Company Registration Number 05050868
Registered Charity Number 1117029
NO SIZE FITS ALL PRODUCTIONS LTD TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE)
REPORT AND ACCOUNTS For the year ending 31 March 2025
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
The Trustees, who are also 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 No Size Fits All Productions Limited Charity registration number 1117029 Company registration number 05050868 Registered office Yorkshire Dance, 3 St Peter’s Square, Leeds LS9 8AH
Trustees
For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.
The Trustees of No Size Fits All Productions Limited during the period and to the date of signing this report are as follows:
- Appointed 2 June 2025
Dermot Daly - Appointed 2 June 2025 Philippa Hough Nicola Miles-Wildin David Nicholson Peter Robinson Tania Mahmoud - Resigned 30 October 2024
Company Secretary
Independent Examiner
Sarah Oliver-Webb Pete O’Hara FCA, Chartered Accountant, 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF
2
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
CHAIR’S STATEMENT
The Board of Trustees present this report as an accurate representation of the company’s activities and work. The 2024/25 period marked the first full year of implementation under Unlimited’s new artist support legacy model, and I am pleased to report that significant progress has been made in both delivery and sustainability of our activity. Whilst the outlook for sustained funding remains a challenging one, we are convinced of the need to provide this support to artists and aware of the unique value that Unlimited brings to this space.
We have successfully delivered two funding rounds, continually learning and streamlining our processes to enhance efficiency and quality in future activity. We are pleased to offer robust support to artists while capturing clear evidence of demand and impact of this largely unstructured funding opportunity.
Led by our freelance Programme Manager, the Board of Trustees has developed and begun implementing a new fundraising and development strategy tailored to the revised support model. This strategy embraces a diverse range of grant opportunities and seeks to foster new partnerships to support the future delivery of artist-centred work. Getting increased funding involves significant work for limited chances of success, and we are grateful for the work done by the team to ensure that all applications are of a high standard and have the best chance of success.
Importantly, the structure of the support model allows for critical reflection and financial planning ahead of each funding round. We have also been mindful of running costs, ensuring that the majority of funds are directed toward artist activity.
The unAwards programme lies at the heart of our new approach, creating inclusive opportunities for emerging and mid-career companies of artists. With a focus on collaboration, experimentation, and inclusivity—particularly for organisations based in the North of England— unAwards was initially structured around three unique strands: Starting Out – supporting early career artists with vital equipment purchases to enhance their practice or organisational capacity; unLab – providing retreat-style funding for artists to explore and imagine new projects collaboratively; and unLock – enabling mid-career artists to secure further backing for ambitious projects ready for final production.
Whilst this first round was successful in terms of the number of high calibre applicants across the three awards, we realised that the demand was centred around unLab, and the unique offering of time for artists to work, create and collaborate together. The second round concentrated funds in this area, whilst still offering support for largely projects in the science space.
Whilst the challenging funding environment has made it difficult for both unLock recipients to get matched funding, we remain committed to these exciting projects and look forward to what Ransack and Polite Rebellion will produce.
3
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2025
CHAIR’S STATEMENT (CONTINUED)
In a significant and symbolic act this year, we transferred ownership of Unlimited’s archive collection to the Brotherton Library at the University of Leeds. Curated with support from artist Alex Kelly, the archive spans 27 years of live performance work. We are proud that this collection will be preserved and made publicly accessible in the city where Unlimited began its journey in 1997.
Looking to the future, Trustees have endorsed a plan to evolve the unAwards programme into a more structured, scalable project delivery model. This will include enhanced wraparound support, responding directly to the clear demand evidenced in the initial rounds. Our fundraising strategy is now focused on securing the resources necessary for this expanded vision.
We remain committed to managing risk with agility and care, ensuring that Unlimited can continue to support artists with purpose, creativity, and integrity in the years ahead.
On behalf of the Board of Trustees, I would like to thank all of our freelance team, those who have helped with panel conversations, partners, funders and supporters who make this work possible. Our mission continues to fuel a vibrant, inclusive, and resilient future for performance in the UK.
David Nicholson Chair of Unlimited Theatre June 2025
4
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Documents
No Size Fits All Productions Limited is a charitable company limited by guarantee, incorporated on 20 February 2004, registered in England and Wales under company number 05050868 and governed by its memorandum and articles of association. The charity was registered with the Charity Commission on 28 November 2006 under charity number 1117029.
The Directors of the company are also Trustees of the charity.
Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
Charitable Purpose, Aims & Objectives
No Size Fits All Productions Limited’s charitable objects are to advance the arts for the public benefit through the promotion of, in particular, but not exclusively, the art of drama.
We are committed to enabling and empowering marginalized voices and the exploration of how personal experience can illuminate wider debate. Through our grant programme unAwards , we aim to create more opportunities for emerging and mid-career companies of artists to tell stories and embark on inspirational journeys that they might not otherwise have been able to. In supporting greater collaboration, experimentation and inclusive practice among artists, we are working towards enhancing cultural experiences for wider audiences throughout the UK and internationally.
Structure and Governance
The charity currently has a Board of five non-executive Trustees.
The Board meets a minimum of four times per year.
Detailed written Board reports and an agenda are prepared and circulated in advance of meetings.
5
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Recruitment and Appointment of Board of Trustees
The Trustees of the charity have the authority to appoint new Trustees either to fill a casual vacancy or as additional Board members.
Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the organisation, as well as through a range of advertising channels.
Any Trustee appointed by the Board will retain their office only until the next Annual General Meeting but will then be eligible for re-election.
Trustee Induction and Training
New Trustees are given information including a range of resources and publications to support their understanding of the charity’s activities, including the latest annual report and accounts, a full role description and information on current and past productions.
They also have the opportunity to see productions and are kept informed on an ongoing basis around developments in both the theatre and wider charity sectors.
Organisational Structure
The Board delegates day-to-day management of the charity and its grant-giving activity to a team of freelance specialists. Core freelance roles are Programme Manager, General Manager and Digital Communications Manager. Additional freelance support for charitable activities is contracted as required.
Risk Management
The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.
No Size Fits All Productions Limited has a risk management strategy in place which comprises:
-
quarterly update of the Risk Register approved by the Trustees
-
the establishment of systems and procedures to mitigate those risks identified
-
the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place, enshrined in a Financial Controls Policy.
6
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Risk Management (Cont.)
The Trustees consider the key specific risk facing the charity at this time and the mitigating actions taken to be as follows:
Sustaining the new artist support model
-
Systems have been established following two rounds of funding to improve efficiency and quality of future activity.
-
Clear evidence on demand and impact of the grants collated for circulation to existing and prospective supporters.
-
Led by the freelance Programme Manager, the Trustees implemented a new fundraising and development strategy unique to the new model which pulls on support from a variety of grant sources and considers new partnership prospects.
-
The structure of the artist support activity is set to allow sufficient exploration time and confirmation of income sources ahead of each round.
-
Charity running costs have been significantly minimised to maximise funds available for activity.
The Trustees also manage the general financial risks arising by ensuring that:
-
Prudent budgets have been set for the next financial year.
-
The charity maintains a low-cost base adapted to the new model.
-
Management accounts, including a revised projected out-turn for the year, cash flow forecast and a Balance Sheet, are provided to the Trustees on a quarterly basis.
-
Contingency plans are in place for the actions which would be taken if income appears unlikely to reach its target.
-
Reserves policies have been adopted which provide an appropriate amount of uncommitted reserves which will always enable the charity to meet all its liabilities even if income targets are not achieved.
Reserves Policy
The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.
The Trustees aim to hold a level of Unrestricted Reserves which enables the charity to have sufficient financial resources to meet various liabilities which would crystalize if essential income targets were not realised and/or it were unable to continue operating. Following the winding down of producing functions and transition to an artist support model, the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £7,300, based upon the equivalent of 3 months of operational/wind down costs.
The charity’s total ‘free’ unrestricted Reserves at 31 March 2025, defined as non-designated, unrestricted funds, net of the value of Fixed Assets are £44,752 (2024: £90,126), thereby providing a modest amount of additional contingency above the optimum level of Unrestricted Reserves to deliver further artist support activity should fundraising efforts be unsuccessful. This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.
7
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Grant Making Policy
In 2023/24, the charity began to operate its new grant programme, unAwards . Aimed at creating more opportunities for emerging and mid-career companies of artists and enabling greater collaboration, experimentation and inclusive practice, the first round was made up of three award strands each inspired by key moments in Unlimited’s history.
The award strands were Starting Out, unLab and unLock. Each focussed on areas recognised as being difficult to fund through existing opportunities and sought to enable creatives and audiences to embark on inspirational journeys that they might not otherwise have been able to. Starting Out was for early career artists working within a producing organisation to buy equipment that would contribute to the development of the organisation or artistic practice, that they otherwise would not be able to afford. unLab was aimed at companies of artists to retreat and begin to imagine their next project. unLock focussed on unlocking further support and/or enhancing an ambitious project that was ready for final production by mid-career artists.
Unlimited’s Programme Manager assesses all applications against the grant eligibility criteria and the priorities underpinning each award strand, which for 2023/24 were:
-
Organisations of two or more artists with a collaborative approach
-
Primary artform is live performance
-
Based or working in the North of England
-
[unLock only] Sci-art projects with evidence of contribution from science partners
The Programme Manager’s assessments are then put to a Decision Panel of diverse and highly experienced cross-sector experts, which prepares a proposal for awards within each strand. The proposal is then forward to the Board of Trustees for review, with recommended grants then reviewed and approved and funding agreements issued.
The Contribution of Volunteers
The charity does not currently make significant use of volunteers to support its activities.
Public Benefit
The Trustees understand and have discussed the implications of the provisions of the Charities Act 2011, which state that all charities must demonstrate that they are established for public benefit, and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.
In developing the objectives for the year, and in planning activities, the Trustees have considered the Charity Commission guidance on public benefit.
8
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Public Benefit (Cont.)
Historically, the charity delivered projects to both adult and family audiences, exploring subjects which connect the public to contemporary issues and concerns, particularly around science, technology and the future. A significant part of its programme in the past was delivering and supporting work for children and young people, both within mainstream education and without, many of whom have little access to the arts.
This year, the charity focussed on supporting the development and work of other arts and cultural organisations whose activity speaks to these themes and values, demonstrating clear public benefit and an alignment with the charity’s aims.
ACHIEVEMENTS AND PERFORMANCE
Summary of the main achievements of the charity during the year
unAwards
2024/25 was the first full year under the charity’s new artist support legacy model. unAwards is a project aimed at creating more opportunities for emerging and mid-career companies of artists which enable greater collaboration, experimentation and inclusive practice. The opportunities prioritise collaborative organisations based and/or operating in the North of England who create live performance to explore and tackle themes of inclusivity. It is made up of three award strands each inspired by key moments in Unlimited’s history with a particular focus on areas that are difficult to fund through existing opportunities:
-
Starting Out – aimed at early career artists working within a producing organisation to buy equipment that would contribute to the development of the organisation or artistic practice, that they otherwise would not be able to afford.
-
unLab - aimed at companies of artists to retreat and begin to imagine their next project.
-
unLock – aimed at mid-career artists focussed on unlocking further support and/or enhancing an ambitious project that was ready for final production
Following a Decision Panel meeting in March 2024 and Trustee approval, the beginning of the year saw the announcement of the successful applicants to unAwards’ first round:
-
Hidden Keileon CIC – awarded £2,500 (Starting Out)
-
Part of the Main – awarded £2,498 (Starting Out)
-
Mad Friday Productions – awarded £4,350 (unLab)
-
Polite Rebellion – awarded £5,000 (unLab)
-
Ransack Theatre – awarded £10,000 (unLock)
9
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2025
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
Summary of the main achievements of the charity during the year (Cont.)
The second round of unAwards opened in September 2024 and successful applicants were announced in January 2025:
-
Proto-type Theater – awarded £4,742.20 (unLab)
-
The Herd Theatre – awarded £4,910 (unLab)
-
Time & Again Theatre Company – awarded £5,000 (unLab)
-
Polite Rebellion – awarded £10,000 (unLock)
Payment of both unLock awards are subject to agreed match funding and will be paid out upon confirmation. Until then, the awarded funds are held as designated.
The applications for both rounds were very high in quality and demonstrated a very real and evident need in the industry for access to the grants available. This was especially the case for unLab, receiving a significant majority of total applications.
Archive Collection
Curated and supported by artist Alex Kelly, this year the charity donated ownership of its archive collection to the Brotherton Library, the University of Leeds’ home to research collections for languages and the arts. The archive encompasses the creations and inspirations of 27 years of producing and making live performance. The charity is proud for the works to be held and accessible to view where the company first began in 1997.
Financial Review
The out-turn for the year is an unrestricted deficit of £25,374 (2024: Deficit of £48,751). The deficit will be deducted from Unrestricted Reserves, leaving a balance on Unrestricted Funds, including Designated Funds, at 31 March 2025 of £64,752.
PLANS FOR FUTURE PERIODS
Informed by the outcomes of the two unAwards rounds, a fundraising strategy is being implemented to secure rollout of an evolved version of the awards. Moving towards a project delivery format, the proposed structure responds to evidenced demand and is enhanced with additional wraparound support. Designed to be scalable and responsive in its development, it is hoped the project will secure a financially sustainable future under the charity’s new model. The Trustees will continue a regular review of all risks, upholding Unlimited’s agile approach to opportunities and threats.
10
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 31 March 2025
RESPONSIBILITIES OF THE TRUSTEES
The Trustees (who are also the Directors of No Size Fits All Productions Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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 proper accounting records that 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. The Trustees 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.
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by Section 415A of the Companies Act 2006.
Signed on behalf of the Trustees
David Nicholson Trustee Company Registration Number 05050868
30 July 2025
11
INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE FOR THE YEAR ENDED 31 MARCH 2025
I hereby report to the Trustees/Members of No Size Fits All Productions Limited (Charity Registration Number 1117029) on the accounts for the year ended 31 March 2025 set out on pages 13 to 22.
Responsibilities and Basis of Report
As the charity’s Trustees (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner’s Statement
Since the Company’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountant in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts 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
-
the accounts have not been prepared in accordance with the methods or 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 (FRS102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Pete O’Hara, FCA, Chartered Accountant
Fellow of the Institute of Chartered Accountants in England & Wales
26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF
30 July 2025
12
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Note Income Income from Investments 3 Income from Donations, Grants & Legacies 4 Income from Charitable Activities 5 Total Income Expenditure Expenditure on Raising Funds Expenditure on Charitable Activities 6 Total Expenditure Net Income/(Expenditure) Balance brought forward at 1 April Balance carried forward at 31 March 13 |
Unrestricted Funds Restricted Funds Total 2025 Total 2024 £ £ £ £ 590 - 590 568 25,615 - 21,615 129,872 10 - 10 227,536 |
|---|---|
| 26,215 - 26,215 357,976 - - - - 51,589 - 51,589 416,107 |
|
| 51,589 - 51,589 416,107 |
|
| (25,374) (25,374) (58,131) 90,126 - 90,126 148,257 |
|
| £64,752 £- £64,752 £90,126 |
The notes on pages 15 to 22 form part of the financial statements.
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
13
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 31 MARCH 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible Fixed Assets | - | - | |
| Current Assets | |||
| Debtors | 10 | 1,033 | 4,189 |
| Cash At Bank & In Hand | 65,887 | 87,987 | |
| 66,920 | 92,176 | ||
| Creditors – Amounts Falling Due Within 1 Year | 11 | (2,168) | (2,050) |
| Net Current Assets/(Liabilities) | 64,752 | 90,126 | |
| Total Net Assets | 12 | £64,752 | £90,126 |
| Represented by: | |||
| Unrestricted Funds | 13 | 44,752 | 90,126 |
| Designated Unrestricted Funds | 13 | 20,000 | - |
| Restricted Funds | - | - | |
| £64,752 | £90,126 |
The notes on pages 15 to 22 form part of the financial statements.
The Trustees are satisfied that for the year ended 31 March 2025 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.
The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006
The Trustees acknowledge their responsibilities for:
(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements were approved and signed by a Member of the Board of Trustees on 30 July 2025.
David Nicholson Trustee Company Registration Number 05050868
14
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting Policies
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
No Size Fits All Productions Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant judgements or estimation uncertainty included within the financial statements.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
-
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable
-
Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant
-
Investment income is included when receivable
-
Income from charitable trading activity is accounted for when earned
-
Theatre Tax Relief income is recognised upon receipt
-
Other income is accounted for when receivable.
15
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting Policies (Continued)
Expenditure
All expenditure is accounted for on an accruals basis and is recognised when a liability is incurred.
-
Expenditure on raising funds are those costs of seeking potential funders and applying for funding
-
Charitable activities include expenditure associated with the planning and delivery of artistic productions and associated activities. This includes both the direct costs and support costs relating to these activities.
-
Support or Indirect costs are those costs incurred in support of the charitable objectives. These have been allocated to the resources expended on a consistent basis that fairly reflects the true use of those resources within the organisation, such as allocating staff costs by time spent and other costs by their usage.
-
Governance costs are those incurred in the governance of the charity and its assets and are primarily associated with the constitutional and statutory requirements.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Operating Leases
The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease.
Tangible Fixed Assets and Depreciation
Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:
IT Equipment – 25% straight line basis Office Equipment & Fixtures & Fittings - 25% reducing balance basis Motor Vehicles - 25% reducing balance basis
A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.
16
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting Policies (Continued)
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
The charity only has financial assets and liabilities of a kind which qualify as basic financial instruments. Such instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Pensions
No Size Fits All Productions Limited previously contributed to a defined contribution pension scheme. Further details can be found in Note 9.
For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.
Fund Accounting
General Funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Designated Funds comprise unrestricted funds set aside by the Trustees for a specific purpose.
Restricted Funds reflect income received which a funder or donor requires must be spent on a particular purpose or where funds have been raised for a specific purpose. Such income and associated expenditure is shown as Restricted in the Statement of Financial Activities, whilst any unspent balances at the year-end are carried forward as Restricted Funds.
Taxation
No Size Fits All Productions Limited meets the definition required of a charitable company for UK Corporation Tax purposes. Consequently, the company is potentially exempt from taxation in respect of income or capital gains to the extent that such income or gains are applied exclusively for charitable purposes.
17
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
2. Going Concern
The Trustees have reviewed the circumstances of the charity and consider that adequate resources continue to be available to fund the activities of the charity in 2025/26 and for the foreseeable future under a new grant-making model. The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
3. Income from Investments
| Bank Interest Receivable | Unrestricted Funds £ Restricted Funds £ 2025 £ 2024 £ 590 - 590 568 |
|---|---|
| £590 £- £590 £568 |
The 2024 total of £568 was wholly attributable to Unrestricted Funds.
4. Income from Donations, Grants & Legacies
| Grant Income Arts Council England – Transition Fund Donations |
Unrestricted Funds £ Restricted Funds £ 2025 £ 2024 £ - - - 98,674 |
|---|---|
| - - - 98,674 25,615 - 25,615 31,198 |
|
| £25,615 £- £25,615 £129,872 |
The 2024 total of £129,872 was wholly attributable to Unrestricted Funds.
5. Income from Charitable Activities
| ncome from Charitable Activities | |
|---|---|
| Co-Production Fees Other Earned Income Theatre Tax Relief Venue Fees |
Unrestricted Funds £ Restricted Funds £ 2025 £ 2024 £ - - - 96,331 10 - 10 877 - - - 48,518 - - - 81,810 |
| £10 £- £10 £227,536 |
The 2024 total of £227,536 was wholly attributable to Unrestricted Funds.
18
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
6. Expenditure on Charitable Activities
| Expenditure on Charitable Activities | ||
|---|---|---|
| Artistic Production/Project Costs Grants Awarded Artists & Actors’ Fees Marketing & Press Production Costs Theatre Tax Relief – Partners’ Share Travel & Accommodation Support Costs Loss on Disposal of Fixed Assets Freelance Core Team Other Overheads Rent & Storage Salaries & On Costs Governance Costs Accountancy, Payroll & Independent Examination Legal & Professional Fees Panel Member Fees Trustee Expenses |
Unrestricted Funds £ Restricted Funds £ 29,000 - - - - - - - - - - - |
2025 £ 2024 £ 29,000 - - 56,242 - 7,576 - 112,210 - 20,995 - 40,646 |
| 29,000 - - - 15,400 - 3,115 - 192 - - - |
29,000 237,669 - 4,250 15,400 28,175 3,115 18,191 192 6,592 - 116,021 |
|
| 18,707 - 660 - 53 - 2,175 - 994 - |
18,707 173,229 660 2,300 53 53 2,175 2,250 994 606 |
|
| 3,882 | 3,882 5,209 |
|
| £51,589 £- |
£51,589 £416,107 |
Of the 2024 total of £416,107, £406,817 was attributable to Unrestricted Funds and £9,290 to Restricted Funds.
Grants Awarded
In the year to 31 March 2025, 7 grant award of between £2,498 and £5,000 were made to 7 institutions, totalling £29,000.
19
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
8. Staff Costs & Trustees’ Remuneration
| Gross Salary Costs Redundancy Costs Employer’s National Insurance Employer’s Pension Contributions |
2025 £ 2024 £ - 77,618 - 33,489 - 2,991 - 1,923 |
|---|---|
| £- £116,021 |
No employee received remuneration of more than £60,000 during the year (2024 - Nil).
The average number of staff employed during the year, calculated as full-time equivalents, was as follows:
| equivalents, was as follows: | ||
|---|---|---|
| 2025 | 2024 | |
| No. | No. | |
| Artistic Production and Support | - | 3 |
Key Management Personnel are defined by the organisation as the senior management team. Remuneration of £Nil (2024: £75,195) was paid to Key Management Personnel in the year.
In the year to 31 March 2025 £175 (2024: £250) was paid to a Trustee, Nickie Miles-Wildin, as an artist for services as a Panel Member for our grant programme.
No other remuneration has been paid to any Trustees/Directors in the year (2024: £Nil).
In the year to 31 March 2025 reimbursement of £96 has been made to 1 Trustee for Travel and Subsistence expenses incurred in respect of their attendance at meetings of the charity (2024: £104 to 1 Trustee).
20
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
9. Pension Scheme
In the year to 31 March 2024 pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme were held separately from those of the company in a separately administered fund. In the year to 31 March 2024 the charity made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.
These amounts are paid over to the scheme on a monthly basis.
No contributions were outstanding at 31 March 2025 (2024: £Nil).
10. Debtors
| 10. Debtors |
10. Debtors |
||
|---|---|---|---|
| Trade Debtors Accrued Income Other Debtors Other Taxes & Social Security Costs Prepayments 11. Creditors – Amounts Falling Due Within 1 Year |
2025 £ 2024 £ - - 133 3,193 - - - - 900 996 |
||
| £1,033 £4,189 |
|||
| Trade Creditors Other Creditors Accruals |
2025 £ 2024 £ 1,503 250 5 - 660 1,800 |
||
| £2,168 £2,050 |
| Creditors – Amounts Falling Due Within 1 | Year | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Trade Creditors | 1,503 | 250 |
| Other Creditors | 5 | - |
| Accruals | 660 | 1,800 |
| £2,168 | £2,050 |
12. Analysis of Net Assets between Funds
| Debtors Cash at Bank and In Hand Creditors – Amounts Due Within 1 Year |
Unrestricted Funds Restricted Funds Total 2025 Total 2024 £ £ £ £ 1,033 - 1,033 4,189 65,887 - 65,887 87,987 (2,168) - (2,168) (2,050) |
|---|---|
| £64,752 £- £64,752 £90,126 |
21
NO SIZE FITS ALL PRODUCTIONS LIMITED TRADING AS UNLIMITED THEATRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
13. Analysis of Charitable Funds
| Unrestricted Funds General Funds Designated Funds – Conditional Grant Awards Total Unrestricted Funds Total Funds Name of Designated Fund Conditional Grant Awards |
Fund at 1 April 2024 £ Income in Year £ Expended in Year £ Fund at 31 March 2025 £ 90,126 6,215 (51,589) 44,752 - 20,000 - 20,000 |
|---|---|
| 90,126 26,215 (51,589) 64,752 |
|
| £90,126 £26,215 £(51,589) £64,752 Description, Nature & Purpose of the Designated Fund Towards the cost of grant awards contingent upon the recipient attracting match funding |
14. Related Party Transactions
The charity previously had a close working relationship with Arts Council England which is a registered charity and has provided significant project funding which enables the charity to carry out its charitable objectives. In the year to 31 March 2024 grant funding of £98,674 from Arts Council England was recognised in the year.
At 31 March 2025, £Nil was owing from Arts Council England (31 March 2024: £Nil).
15. Taxation
The company is a registered charity and no provision is considered necessary for taxation.
16. Financial Commitments
Other than conditional grant awards, for which a Designated Fund has been created, no other material financial commitments have been made in respect of future financial periods.
17. Company Limited by Guarantee
The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter. There are currently 5 members of the company (2024 - 5 members).
22