COMPANY REGISTRATION NUMBER: 05019986 CHARITY REGISTRATION NUMBER: 1114289
Rhubarb Theatre Company Company Limited by Guarantee
Unaudited Financial Statements
For the year ended
31 March 2025
MUMBY HEPPENSTALL
Chartered accountants Wellingore Hall Wellingore Lincoln LN5 0HX
Rhubarb Theatre Company
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and expenditure | |
| account) | 10 |
| Statement of financial position | 11 |
| Notes to the financial statements | 12 |
Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
| Registered charity name | Rhubarb Theatre Company |
|---|---|
| Charity registration number | 1114289 |
| Company registration number | 05019986 |
| Principal office and registered | 7 Queensway |
| office | Leadenham |
| Lincoln | |
| LN5 0PF | |
| The trustees | |
| Michael Harrison | |
| Tracey Delaney | |
| Joanna Dobbs | |
| Olivia Macnab | |
| Patricia Gail Rhodes (appointed 5 June 2024) | |
| Karolyn Lamb (appointed 10 December 2024) | |
| Independent examiner | Clare Heppenstall, MA, FCA |
Structure, governance and management
Governing document
Rhubarb Theatre Company is a company limited by guarantee and not having share capital, governed by its Memorandum and Articles of Association dated 20th January 2004 and amended by special resolutions on 15th November 2005 and 26 March 2024. It is registered as a charity with the Charity Commission for England and Wales. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Structure, governance and management (continued)
Appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. The company's existing board of trustees were individually appointed on the strength of their respective background, the network of contacts of the relevant trustee and an obvious enthusiasm and commitment to support the company on an ongoing basis. As set out in the Articles of Association, the board may from time to time and at any time appoint any member of the Company as a member of the Board of Directors. The decision to elect new trustees to the board is based upon the availability of suitable candidates with a requisite skills base together with an acknowledgement by the board that additional support would be beneficial in order to assist in the company's development.
When considering new trustees, the board reflects on what specialist skills may be needed to enhance the potential pool of trustees. In addition to skills, the board also considers locality and what the new members could bring to the table. With online platforms available, this has made meetings for board members living further afield or with heavy work commitments, able to join us more easily.
This year we inducted two new members to our board of trustees. Gail Rhodes, formally a primary school teacher in Lincolnshire and now a freelance artist and Karolyn Lamb. Karolyn works with the YMCA Lincolnshire Youth Team and brings knowledge of that sector. Both have already been a huge asset to the board.
The Rhubarb Theatre board regularly refer to a Skills Audit Gaps Analysis. Between us we have many skills, however we are aware of areas where we need more support, and approach experts outside of the board when we need advice in these areas.
Trustee induction and training
New trustees are provided with information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the company. During this induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events that will encourage a greater understanding of the undertaking of their role. Trustees are also encouraged to view the work delivered by Rhubarb Theatre Company employees.
Organisation
The board of trustees, which can have up to 7 members, administers the charity. The board meets quarterly and additional meetings of sub-committees can be set up if the need arises. Up to two Artistic Directors can be appointed by the trustees to manage the day-to-day operations of the company. To facilitate effective operations, the Artistic Directors have delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity.
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Objectives and activities (continued)
Risk management
The trustees have a risk management strategy which comprises an annual review of the risks the company may face and the establishment and implementation of systems and procedures to mitigate those risks identified.
Following the pandemic, Rhubarb Theatre’s risk assessment adapted to cover our artists and audience/participants health and safety. Our reserves policy remains high to give the company support should future lockdowns ensue, and for new equipment and vehicles.
Objectives and activities
The objectives of the charity are:
To advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.
Rhubarb Theatre Company has the general aim of contributing to the quality of life of our participants and audiences by expanding their horizons through the provision of exciting, challenging and accessible professional and community arts events.
The main objectives for the year were to generate more work, build client relationships, and to apply for funding to allow us to deliver new projects.
The strategies employed to achieve the charity's objectives are to:
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Undergo training to broaden our skills and extend what we can offer;
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Offer opportunities for a broad range of participants to get involved in arts activity exploring their own creative powers;
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Concentrate on involving young people in the arts to help encourage a culture in which different age ranges, backgrounds and abilities play a complimentary part;
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Provide placements for volunteers and students to work with the charity in gaining a greater understanding of how an arts company operates and guide them in future employment;
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Build and diversify partnerships to reach all areas of the community;
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Present a broad range of high-quality arts work.
Our major areas of activity are family and community theatre (both indoors and outdoors). Our work includes projects for children with and without additional needs, interactive storytelling, curriculum & arts workshops, residencies, walkabout, touring shows, street shows, voice over work and training.
Rhubarb Theatre Company will continue to work with all areas of the community and our aim is to develop confidence and expression across the range of arts from dance, drama, music and art. From workshops linked to the educational syllabus, to fun and accessible sessions that encourage the participants to ask questions, lead the group and share ideas.
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance
Eco Arts Show: Collection Day – This fantastic project included a show, after show chat, eco crafts, eco storytelling and supplying every school with a link to our online Eco arts activity pack. We partnered with Lincolnshire Wildlife Trust and received funding to take the Project around Lincolnshire into schools and the wider community, reaching some of the most rural and deprived areas – places that are often too small to accommodate Rhubarb Theatre. We were funded by UK Shared Prosperity Grant, West Lindsey Community Action Fund, along with many other supporters. The first part of our year was dominated by this project and our feedback was phenomenal. Rhubarb is seeking additional funding to allow this project to run in other areas.
Touring Show: Airport Alien – This year we created a brand-new family touring show. Rhubarb purchased new lights, sound, projection and Qlab, resulting in new ways of working. We hired a new team, including working with Dan Firth from Lincoln University who trained us on the new systems. We brought Tim Peverill into the rehearsal process to create animation and auditioned Caley Starbuck and Lara de Belder. During the creative process we partnered with Lincolnshire Music Service who have funded 21 shows in Lincolnshire, giving us a fantastic kick start to the project and also helping us with rehearsal space. The show has been receiving fantastic feedback and we are immensely proud of it.
Lincoln Community Fund Storytelling – Rhubarb Theatre applied for funding to work in two Lincoln wards with Moorland children’s centre and The Meadow’s Primary School. Over 3months we delivered 30 sessions of storytelling, craft and training.
Dino Rangers – another fun Easter, partnering with Ben Webb who creates immersive instalments, Ben invited us to be part of his Dinosaur Dig again. We play rangers, bringing dinosaur stories and providing information whilst puppeting a baby T-rex.
Street Theatre – The range of street theatre and walkabout we now offer is large and varied. This year we were able to offer snails, Romans, Victorian bathers, show jumping activities, RAF heroes, Wonderland characters, camels, reindeers and much much more. Range and adaptability is absolutely key for bookers.
This year we added to our walkabout characters, with reindeers created by LUMO. At Christmas we delivered ‘Elves on Reindeers’ as part of our wider walkabout offer and are adapting it for Summer with ‘Woodland fairies’. We are also adding games to our Wonderland experience and starting work on a new Summer Festival show ‘The Soapsud Sisters’.
Halloween was very successful, creating trails for Tattershall Farm Park and extended activities based around ‘Beetlejuice’ for Aldershot and Farnborough. We were also commissioned by City of Lincoln to create a ghost walk for the Arboretum, ‘Sprites and Spirits at Dusk’ which included a lantern parade through the park.
Rhubarb Theatre have had lots of festival bookings this year and we particularly enjoyed Wonderland at Riverlight Festival, Ripon Festival, Lincoln BIG 40’s weekend, Towersey Festival, Canary Wharf Family Event and of course Glastonbury.
Other quick mentions – This year Rhubarb Theatre had some beautiful projects, too many to mention. However here’s a quick round up of some we have to:
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Future of the Past – new heritage and arts initiative through soundLINCS
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The Magic Toyshop – Rhubarb worked with Starlight Circus to create a Christmas show for young performers
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Children in Need Summer Holiday Clubs
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Participation, engagement and public benefit
It is the trustees’ view that the requirement to demonstrate public benefit is met by its charitable objective, and by the means of delivery and provision of the opportunity for engagement and participation. Specific examples of relevant modes of operation include considerable amounts of work with state schools in areas of rural deprivation, residencies and festivals offering free and low-cost access to performances, lectures and workshops, concessionary rate tickets in association with various venues, and the provision of placements for students and others within the company.
Rhubarb Theatre benefits the wider community through its development and delivery, making a difference to hundreds of people throughout the year. From creative and interactive storytelling with young children, that improves communication, imagination and motor skills, to working with elderly participants. Some of our projects have encouraged people with dementia to share memories, be part of a creative process of making, singing, playing theatrically, working with each other, and making new friends. Rhubarb Theatre also works with children and adults with a wide range of special needs. The charity develops their skills and builds their confidence, often taking them out of their comfort zone and allowing them to accept and relax in new situations. Our Eco Arts Project encourages the participants to live healthier lives and look after their environments. The touring shows and street theatre reach so many people in the most rural places where arts often struggle to connect, to urban cities in the most deprived areas where for some it is often the only theatre they have seen. Rhubarb Theatre know that they are making a difference because people tell them that they are.
Estimated number of participants worked with from April 2024 - March 2025 = 13,820 (2024: 10,415) (includes storytelling sessions and workshops) Estimated number of live audiences from April 2024 - March 2025 = 33,540 (2024: 16,840) (includes storytelling sessions and workshops) Estimated number of online audiences from April 2024 - March 2025 = 50,700 (2024: 10,000) Total engagement: 98,060 (2024: 37,225) Number of artists participating over the year (days) = 307 (2024: 444)
Funding received in this financial year:
| Tesco Bags of Hope | Collection Day Eco Project | £500 |
|---|---|---|
| NK Business Grant | Projector | £1,960 |
| Children in Need | Holiday Clubs | £5,000 |
| Postcode Places Trust | Core / Airport Alien / new street show | £25,000 |
| Arts Council England | Airport Alien touring show | £30,000 |
| UK Shared Prosperity Grant Fund | Collection Day Eco Project EL/BB/SH | £18,375 |
| WLDC Community Action Fund | Collection Day Eco Project | £3,000 |
| SoundLINCS | Future of the Past | £3,590 |
| Lincolnshire County Council | Airport Alien | £12,000 |
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Financial review
Rhubarb Theatre increased payments to our freelance artists, and our own charges, in line with the rises to cost of living. To ensure we are continuing to provide a service to areas least able to afford the arts and most in need, we have focused on our fund-raising strategy. This allows us to undertake projects that meet our charitable aims and offer the most rurally isolated and deprived areas, projects for free or at a reduced rate.
Where possible, we reuse or adapt our props and costumes. Our large cart that was created for us in 2017 is utilized in 3 different street shows. Most of our walkabout characters have a summer and a winter adaptation.
This year we were very successful with our fundraising, allowing us to deliver a good-sized Eco project that reached many rural and deprived areas around Lincolnshire. We have been applying to other organisations to continue this worthy project, but at present have not been successful.
We are also in the early stages of applying for a community storytelling project, that if successful, will allow us to work throughout East Lindsey with the children centres for over a year. This was brought about due to a concern from Arts Council England about the lack of provision for early years children in the area.
This year we purchased new touring lighting, sound and Qlab equipment from our own funds. We did seek funding but were unsuccessful. A small business grant from North Kesteven went towards half of our projector costs. We also needed to purchase a new van when the current one became unreliable. Parts for ordering were taking so long to arrive and hiring vans became expensive. We needed to take the van over to Guernsey, many hire companies do not allow you to take your hire vehicles onto ferries, so having agreed with the board that it was time to renew, we purchased another van.
In the new financial year, we will continue to apply for more funding and find new partners within our projects, which seems to be the most sensible approach. Artistic quality is important to us. We continually seek to improve and find new ways in which to be creative and original.
We have taken the decision to run our family touring shows for longer. Schools find it trickier to fund the medium scale shows, and we get less bookings from them. However, we still get work from theatres, art centres and rural touring circuits, so the touring shows give us an alternate client base.
Rhubarb Theatre gets bookings for storytelling, workshops and projects in schools, nurseries, farm parks and more. Combined with our festival work, seasonal walkabouts, street theatre, voice over work and bespoke projects, the company offers plenty of choice to a broad clientele.
Rhubarb Theatre Company sits comfortably in the organisational status of a charity and financially it suits us to run in this manner. Rhubarb Theatre Company continues to venture into exciting new directions adding a more sustainable and substantial framework to the business.
Rhubarb Theatre Company has strong policies in place and has recently added a Finance Policy. We have updated our Business Plan and have met with our accountants Mumby Heppenstall to review financial forecasts. As we work closely with Mumby Heppenstall, our charity regularly reviews its financial controls during the reporting period.
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Reserves policy
The trustees have asked Rhubarb Theatre Company to keep the level of reserves (that is those funds that are freely available) at around £52K. This amount covers employees’ wages for a year. This is part of our Risk Management strategy, to cover any eventualities. Reserves are needed to bridge the funding gaps between spending on productions and workshops and receiving resources through income and grants that provide funding. We have set up a higher rate bank account (on recommendation from the bank), we will use this before draining the reserves.
In the coming year we need to improve two of our storage areas in the Rhubarb Theatre base’s garage and loft space. Both have started to let in water, and we need to address that. Cost of living continues to rise. Now that we have purchased a new van, we will need to rebuild our main account as we had a large spend this financial year. We cover a huge amount of mileage during the year and having a reliable vehicle is a must. The company account is at present healthy; however, we will have to closely monitor our spend over the coming months.
On 31 March 2025 the Business Continuity designated reserve was £52,831 (2024: £51,570). Other unrestricted cash reserves on 31 March 2025 were £83,776 and £52,859 in our higher interest account (2024: £89,246 and £51,596 in our higher interest account).
Plans for future periods
Rhubarb Theatre Company will continue to seek funds from a variety of sources, and we intend to continue to strengthening links with the community, local businesses and broadening our ideas of delivery content.
We are continuing to apply for funding for the Collection Day Eco Arts Project. It is such a successful package that we want to bring it to more areas around the East Midlands.
We are also applying for early years funding for a large storytelling project in the East Midlands.
Discussions about an intergenerational project are also being discussed, but very early stages.
We are continuing to work with soundLINCS as Cultural Facilitator role on ‘The Future of the Past’. This 3-year heritage and arts project focusses on bringing young people from 11-25yrs onto heritage sites.
RESPONSIBILITIES OF THE TRUSTEES
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Rhubarb Theatre Company
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
The trustees (who are also the directors of Rhubarb Theatre Company for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period.
In preparing these financial statements, the trustees are require to:
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select suitable accounting policies and then apply them consistently;
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observe methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Tracey Delaney Signed on 18 August 2025 @ 20:01
Tracey Delaney Trustee
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Rhubarb Theatre Company
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Rhubarb Theatre Company (continued)
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of Rhubarb Theatre Company ('the charity') for the year ended 31 March 2025.
Responsibilities and basis of report
The trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under
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section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Independent examiner's statement - matter of concern identified
Since I am a partner in the firm which provides the charity with book-keeping services, I can confirm that I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies, and I have applied the FRC's Revised Ethical Standard 2016.
I confirm that no other matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Clare Heppenstall, MA, FCA Independent Examiner
Mumby Heppenstall Wellingore Hall Wellingore Lincoln LN5 0HX
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Rhubarb Theatre Company
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 25,873 | 66,094 | 91,967 | 28,745 |
| Charitable activities | 6 | 79,169 | – | 79,169 | 84,973 |
| Investment income | 7 | 2,550 | – | 2,550 | 1,717 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 107,592 | 66,094 | 173,686 | 115,435 | |
| ============================ | ============================ | ============================ | ============================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 8 | 1,166 | – | 1,166 | 984 |
| Expenditure on charitable activities | 9,10 | 76,359 | 65,763 | 142,122 | 107,089 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 77,525 | 65,763 | 143,288 | 108,073 | |
| ============================ | ============================ | ============================ | ============================ | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net income | 30,067 | 331 | 30,398 | 7,362 | |
| ============================ | ============================ | ============================ | ============================ | ||
| Transfers between funds | 1,961 | (1,961) | – | – | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Net movement in funds | 32,028 | (1,630) | 30,398 | 7,362 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 184,215 | 7,699 | 191,914 | 184,552 | |
| --------------------------------- | ---------------------------- | --------------------------------- | --------------------------------- | ||
| Total funds carried forward | 216,243 | 6,069 | 222,312 | 191,914 | |
| ================================= | ============================ | ================================= | ================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 22 form part of these financial statements.
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Rhubarb Theatre Company
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 16 | 30,282 | 5,509 | |
| Current assets | ||||
| Debtors | 17 | 15,528 | 11,114 | |
| Cash at bank and in hand | 189,467 | 192,412 | ||
| --------------------------------- | --------------------------------- | |||
| 204,995 | 203,526 | |||
| Creditors: amounts falling due within one year | 18 | 12,965 | 17,121 | |
| --------------------------------- | --------------------------------- | |||
| Net current assets | 192,030 | 186,405 | ||
| --------------------------------- | --------------------------------- | |||
| Total assets less current liabilities | 222,312 | 191,914 | ||
| --------------------------------- | --------------------------------- | |||
| Net assets | 222,312 | 191,914 | ||
| ================================= | ================================= | |||
| Funds of the charity | ||||
| Restricted funds | 6,069 | 7,699 | ||
| Unrestricted funds | 216,243 | 184,215 | ||
| --------------------------------- | --------------------------------- | |||
| Total charity funds | 21 | 222,312 ================================= |
191,914 ================================= |
For the year ended 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
i[eat] Tracey Delaney Signed on 18 August 2025 @ 20:01 Tracey Delaney Trustee
The notes on pages 12 to 22 form part of these financial statements.
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Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales (company number 05019986) and a registered charity in England and Wales (registered number 1114289). The address of the registered office is 7 Queensway, Leadenham, Lincoln, LN5 0PF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Rhubarb Theatre Company is a public benefit entity as defined by FRS 102.
Going concern
There are no material uncertainties about the charity's ability to continue.
Income tax
These financial statements are prepared on the basis that as a charity, the activities of Rhubarb Theatre Company are exempt from income tax and corporation tax.
Fund accounting
Unrestricted funds comprise those funds which the Directors are free to use for any purpose in furtherance of the charitable objects. Designated funds are unrestricted funds which have been earmarked for use for a particular purpose in the future. Restricted funds are subjected to restrictions on their expenditure imposed by the donor. Expenditure subject to such restrictions is charged to the fund, together with a fair allocation of management and support costs.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Income is stated net of VAT. aThe following specific policies are applied to particular categories of income:
- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources (continued)
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 15% reducing balance |
|---|---|---|
| Motor vehicles | - | 25% reducing balance |
| Equipment | - | 33% straight line |
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Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Limited by guarantee
The company is limited by guarantee and does not have a share capital. In the event of the company being wound up the liability of the members is limited to £1.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 873 | – | 873 |
| Grants | |||
| Local Authorities | – | 16,961 | 16,961 |
| Arts Council England | – | 30,000 | 30,000 |
| People’s Postcode Lottery | 25,000 | – | 25,000 |
| UK Shared Prosperity Grant Fund | 10,543 | 10,543 | |
| Children in Need | 5,000 | 5,000 | |
| soundLincs Heritage Project | 3,590 | 3,590 | |
| ------------------------ | ---------------------------- | ---------------------------- | |
| 25,873 | 66,094 | 91,967 | |
| ======================== | ============================ | ============================ |
- 14 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 5,620 | – | 5,620 | ||
| Grants | |||||
| Local Authorities | – | 15,000 | 15,000 | ||
| Arts Council England | – | 2,000 | 2,000 | ||
| UK Shared Prosperity Grant Fund | – | 6,125 | 6,125 | ||
| ------------------------ | ---------------------------- | ---------------------------- | |||
| 5,620 | 23,125 | 28,745 | |||
| ======================== | ============================ | ============================ | |||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Performance Income | 79,169 | 79,169 | 84,973 | 84,973 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 79,169 | 79,169 | 84,973 | 84,973 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 2,550 | 2,550 | 1,717 | 1,717 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and legacies - | |||||
| Grants receivable | 1,166 | 1,166 | 984 | 984 | |
| ======================== | ======================== | ============================ | ============================ |
- 15 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Performance costs | 38,703 | 56,620 | 95,323 |
| Support costs | 37,656 | 9,143 | 46,799 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 76,359 | 65,763 | 142,122 | |
| ============================ | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Performance costs | 59,058 | 10,222 | 69,280 |
| Support costs | 32,605 | 5,204 | 37,809 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 91,663 ============================ |
15,426 ============================ |
107,089 ============================ |
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Performance costs | 95,323 | 45,875 | 141,198 | 106,085 |
| Governance costs | – | 924 | 924 | 1,004 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 95,323 | 46,799 | 142,122 | 107,089 | |
| ============================ | ============================ | ============================ | ============================ |
- 16 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
11. Analysis of support costs
| WLDC | soundLincs | ||||||
|---|---|---|---|---|---|---|---|
| Performance | Collection | Arts Council | Heritage | Children in | |||
| costs | Day | England | Project | Need | Total 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | £ | |
| Staff costs | 14,878 | 2,936 | 3,036 | 2,031 | – | 22,881 | 22,361 |
| Room hire | 247 | – | 443 | 50 | 414 | 1,154 | 230 |
| Repairs | 9 | – | – | – | – | 9 | 686 |
| Storage | – | – | – | – | – | – | 1,931 |
| Pension contributions | 297 | 64 | 62 | 49 | – | 472 | 461 |
| Light, heat and water | 167 | – | – | – | – | 167 | 270 |
| Governance costs | 924 | – | – | – | – | 924 | 1,004 |
| Printing, postage and stationery | 439 | – | – | – | – | 439 | 117 |
| Telephone | 771 | – | – | – | – | 771 | 684 |
| Motor expenses | 5,520 | – | – | – | – | 5,520 | 5,296 |
| Travel and subsistence | 1,360 | – | 18 | 40 | – | 1,418 | 813 |
| Accountancy | 650 | – | – | – | – | 650 | 740 |
| General administration costs | 154 | – | – | – | – | 154 | 116 |
| Bank charges | – | – | – | – | – | – | 35 |
| Depreciation and loss on disposal of fixed | |||||||
| assets | 10,904 | – | – | – | – | 10,904 | 2,164 |
| Computer costs | 1,205 | – | – | – | – | 1,205 | 896 |
| Research costs | 131 | – | – | – | – | 131 | – |
| Interest payable | – | – | – | – | – | – | 5 |
| ---------------------------- | ------------------------ | ------------------------ | ------------------------ | ------------------------ | ---------------------------- | ---------------------------- | |
| 37,656 | 3,000 | 3,559 | 2,170 | 414 | 46,799 | 37,809 | |
| ============================ | ======================== | ======================== | ======================== | ======================== | ============================ | ============================ |
- 17 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
12. Net income
| Net income is stated after charging/(crediting): | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 10,904 | 2,164 | |
| ======================== | ======================== | ||
| 13. | Independent examination fees | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 625 | 575 | |
| Other financial services | 650 | 740 | |
| ------------------------ | ------------------------ | ||
| 1,275 | 1,315 | ||
| ======================== | ======================== | ||
| 14. | Staff costs | ||
| . | 2025 | 2024 | |
| £ | £ | ||
| Wages and salaries | 48,195 | 48,195 | |
| Social security costs | - | - | |
| Employer contributions to pension plans | 1,072 | 1,072 | |
| -------------------------- | -------------------------- | ||
| 49,267 | 49,267 | ||
| ======================== | ======================== |
The average head count of employees during the year was 2 (2024: 2).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
15. Trustee remuneration and expenses
No trustees were paid any remuneration, received any benefits in kind or were reimbursed for expenses during the year (2024: Nil).
16. Tangible fixed assets
| Freehold | Fixtures and |
|||||
|---|---|---|---|---|---|---|
| property | fittings Motor vehicles | Equipment | Total | |||
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 April 2024 | 2,726 | 15,194 | 14,750 | 8,602 | 41,272 | |
| Additions | – | – | 26,609 | 9,068 | 35,677 | |
| Disposals | – | – | – | (252) | (252) | |
| - |
-- --------------------- | ---------------------------- | ---------------------------- | ------------------------ | ---------------------------- | |
| 2,726 | 15,194 | 41,359 | 17,418 | 76,697 | ||
| = == ===================== | ============================ | ============================ | ======================== | ============================ | ||
| Depreciation | ||||||
| At 1 April 2024 | 273 | 14,239 | 13,273 | 7,978 | 35,763 | |
| Charge for the year | 272 | 144 | 7,022 | 3,466 | 10,904 | |
| Disposals | – | – | – | (252) | (252) | |
| - |
- | --------------------- | ---------------------------- | ---------------------------- | ------------------------ | ---------------------------- |
| 545 | 14,383 | 20,295 | 11,192 | 46,415 | ||
| = ======================= | ============================ | ============================ | ======================== | ============================ | ||
| At 31 March 2025 | 2,181 | 811 | 21,064 | 6,226 | 30,282 | |
| ============================ | ||||||
| ============================ | ============================ | ======================== | ============================ | |||
| At 31 March 2024 | 2,453 | 955 | 1,477 | 624 | 5,509 | |
| ============================ | ============================ | ============================ | ======================== | ============================ |
- 18 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
17. Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 14,219 | 9,637 | |
| Prepayments and accrued income | 1,309 | 1,477 | |
| ------------------------ | ------------------------ | ||
| 15,528 | 11,114 | ||
| ======================== | ======================== | ||
| 18. | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors | 4,214 | 2,162 | |
| Accruals and deferred income | 6,436 | 5,882 | |
| Social security and other taxes | 1,612 | 4,418 | |
| Credit card | 703 | 850 | |
| Other creditors | - | 3,809 | |
| ------------------------ | ------------------------ | ||
| 12,965 | 17,121 | ||
| ======================== | ======================== | ||
| 19. | Deferred income | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Amount deferred in year | 5,240 ============================= |
5,000 ======================== |
Deferred income relates to invoices issued and funding received before the year end which relate to performances taking place after 31 March 2025.
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,072 (2024: £1,072).
- 19 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April 2024 | Income | Expenditure | Transfers | 31 March 2025 | |
| £ | £ | £ | £ | £ | |
| General Fund | 132.645 | 106,331 | (76,871) | – | 162,105 |
| Business Continuity Fund | 51,570 | 1,261 | – | – | 52,831 |
| Depreciation Fund | – | – | (654) | 1,961 | 1,307 |
| --------------------------------- | ---------------------------- | ---------------------------- | ------------------------ | --------------------------------- | |
| 184,215 | 107,592 | (77,525) | 1,961 | 216,243 | |
| ================================= | ============================ | ============================ | ======================== | ================================= | |
| At | At | ||||
| 1 April 2023 | Income | Expenditure | Transfers | 31 March 20240 | |
| £ | £ | £ | £ | £ | |
| General Fund | 142.550 | 91,817 | (92,647) | (9,075) | 132,645 |
| Business Continuity Fund | 41,077 | 493 | – | 10,000 | 51,570 |
| Depreciation Fund | 925 | – | – | (925) | – |
| --------------------------------- | ---------------------------- | ---------------------------- | ------------------------ | --------------------------------- | |
| 184,552 | 92,310 | (92,647) | – | 184,215 | |
| ================================= | ============================ | ============================ | ======================== | ================================= |
The Business Continuity Fund is a designated fund established by the trustees to meet their target of holding a reserve of £52,000 (2024: £51,000) as detailed in their reserves policy. The Depreciation Fund is a designated fund set up to write off the grants received from North Kesteven District Council and the Arts Council for England for the purchase of equipment over the useful life of the equipment in accordance with the depreciation accounting policy.
- 20 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April 2024 | Income | Expenditure | Transfers | 31 March 2025 | |
| £ | £ | £ | £ | £ | |
| West Lindsey District | |||||
| Council – Collection Day | 7,087 | 3,000 | (10,087) | – | – |
| UK Shared Prosperity | |||||
| Fund- Collection Day | 612 | 10,543 | (11,155) | – | – |
| North Kesteven District | |||||
| Council | – | 1,961 | (1,961) | – | |
| Arts Council England | – | 30,000 | (30,000) | – | – |
| Lincs County Council | – | 12,000 | (5,931) | – | 6,069 |
| Children in Need | – | 5,000 | (5,000) | – | – |
| soundLincs Heritage | |||||
| Project | – | 3,590 | (3,590) | – | – |
| ------------------------ | ---------------------------- | ---------------------------- | ------------------------ | -------------- | |
| 7,699 | 66,094 | (65,763) | (1,961) | 6,069 |
|
| ======================== | ============================ | ============================ | ======================== | ============== | |
| At | At | ||||
| 1 April 2023 | Income | Expenditure | Transfers | 31 March 2024 | |
| £ | £ | £ | £ | £ | |
| West Lindsey District | |||||
| Council – Collection Day | – | 15,000 | (7,913) | – | 7,087 |
| UK Shared Prosperity | |||||
| Fund- Collection Day | – | 6,125 | (5,513) | – | 612 |
| Finding Chester | – | 2,000 | (2,000) | – | – |
| ------------------------ | ---------------------------- | ---------------------------- | ------------------------ | -------------- | |
| – | 23,125 | (15,426) | – | 7,699 | |
| ======================== | ============================ | ============================ | ======================== | ============== |
Funding has been received specifically for the purpose of creating and touring the above shows and storytelling and so they have been treated as restricted funds. Where the costs have exceeded income a transfer has been made from unrestricted funds to meet the shortfall. The North Kesteven District Council grant was for the purchase of equipment. Once the equipment has been purchased, its use is unrestricted and so the grant has been transferred to unrestricted funds, to be written off over the life of the assets in accordance with the depreciation accounting policy.
- 21 -
Rhubarb Theatre Company
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
22. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Tangible fixed assets | 30,282 | – | 30,282 |
| Current assets | 196,661 | 8,334 | 204,995 |
| Creditors less than 1 year | (10,700) | (2,265) | (12,965) |
| --------------------------------- | -------------- | --------------------------------- | |
| Net assets | 216,243 | 6,069 | 222,312 |
| ================================= | ============== | ================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 5,509 | – | 5,509 |
| Current assets | 192,400 | 16,126 | 208,526 |
| Creditors less than 1 year | (13,694) | (8,427) | (22,121) |
| --------------------------------- | -------------- | --------------------------------- | |
| Net assets | 184,215 | 7,699 | 191,914 |
| ================================= | ============== | ================================= |
23. Related parties
£2,230 was paid to P Mead and £1,500 was paid to K Mead, both employees of the charity, for artistic fees which were not part of their duties as an employee. These were invoiced at normal market rates.
24. Going concern
The trustees consider that the current and future sources of funding and support, along with the reserves held at 31 March 2025, are adequate to enable it continue for the foreseeable future.
- 22 -