Charity Registration No. 1123986
Company Registration No. 4625212 (England and Wales)
RIFCO ARTS
TRUSTEES, REPORT AND UNAUDITED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2025

RIFCO ARTS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
R Beeston
V. Menon (resigned Sep 25)
G Kanagathurai
N Shea
K Soni (appointed Feb 251
B Watling (appointed Jan 251
Secretary
P Kumar
Charity number
1123986
Company number
4625212
Principal address
Building 3 Suite 13,
Second Floor,
Croxley Green Business Park.
Hatter5 Lane, Watford,
Hertfordshire. England.
WD18 8A5
Registered office
Building 3 Suite 13,
Second Floor,
Croxley Green Business Park.
Hatters Lane, Watford,
Hertfordshire. England.
WD18 8AS
Independent examiner
Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG

RIFCO ARTS
CONTENTS
PAGE
Trustees, report
14
Independent examinerfs report
Consolidated Statement of financial activities
Balance sheet
Statement of cash flow
Notes to the accounts
9-18

RIFCO ARTS
Trustees, Report
For the year ended 31" March 2025
The Trustees present their report and accounts for the year ended 31 March 2025.
The accounts have been prepared following the accounting policies set out in note I to the accounts and
comply with Rifco's governing document, the Companies Act 2006 and the Statement of Recommended
Practice, "Accounting and Reporting by Charities" issued in March 2005.
Structure
overnance and mana
ement
Rifco Arts is a company limited by guarantee (4625212) and a registered charity {11239861. The Trustees,
who are also the directors for company law, who served during the year, were:
R Beeston
V Menon
N Shea
B Watling
K Soni
G Kanagathurai (Chairl
Trustees are recruited through word of mouth, professional networks, and targeted advertising, with the
key driver being the maintenance of a strong skills base. The Chair has been in post since January 2020,
Ganan Kanagathurai, who brings extensive leadership, business and organisational development
experience. Initial contact for prospective Board members is with the Executive Producer and Artistic
Director/CEO, followed by a meeting with the Chair and Deputy Chair. Candidates then submit a formal
letier of application, after which interviews are conducted with the Chair and Deputy Chair or an
additional Board Member. Recruitment is ongoing for additional skills, specifically finance and digital. In
relation to representation, the 50Yo diverse membership target is currently met. However, this
membership balance will continue to be under review.
Trustees are members of the company and guarantee to contribute £1 in the event of winding up the
company. The Board meets quarterly. takes part in Board Away Days and attends performances, events
and other meetings associated with the companvs activities. Their role is to set the strategic direction of
the company, provide expert advice and guidance to the Executive and monitor and evaluate progress
against Business Plan targets. The Artistic Director/CEO and Executive Producer lead the day-to-day
management and operation of the company.
The Executive has continued to recruit additional staff throughout this financial year, adding a Producing
Associate role in October 2024. Recruitment challenges have lessened in comparison to the previousyear,
and a new Marketing and Communications Manager joined in March 2025.
In early 2025 our key funding partner. Arts Council England, announced an additional extension of the
current funding period from 2023 - 2026 to 2028. This gives the organisation the added security of an
extra two years of guaranteed funding with which to plan.

RIFCO ARTS
Trustees, Report
For the year ended 31" March 2025
Pro
ramme
2024-25 was an exceptionally busy and rewarding year for Rifco Arts. The organisation saw record
attendance, launched its most ambitious production to date, returned to the Edinburgh Fringe for the
first time in fifteen years, and further deepened its commitment to developing and platforming new
British South Asian talent across multiple disciplines.
Frankie Goe5 to Bollywood
Rifco premiered its largest ever production, Frankie Goes to Bollywood, written by Pravesh Kumar {bookl,
composed by Niraj Chag, with lyrics by Tasha Taylor Johnson. The show opened at our long-standing
partner venue, Watford Palace Theatre, and toured nationally across England and Wales during May-
June 2024. Inspired by true stories of British and other European women brought into the world's largest
film industry, Frankie Goes to Bollywood drew over 35,(M)O paying audience members and was an
outstanding success from an audience engagement perspective.
Pali and JaJ/5 Ultimate Asian Wedding DJ Roadshow
In partnership with Soho Theatre, Rifco returned to the Edinburgh Festival Fringe with Pali & Jay's
Ultimate Asian Wedding DJ Roadshow, a new piece exploring male friendship, music, and cultural
identity. The show was warmly received in its London previews and sustained positive word of mouth
across a full August run in Edinburgh. followed by a short regional tour. This marked a significant moment
in Rifco's renewed commitment to Studio-scale work and festival presence.
Artist Development: Associates Programmes
Rifco launched Rifco Ragas, a new development programme supporting the creation of diverse British
musicals. The scheme draws on multidisciplinary talent already active in the arts and selected three
groups in this initial cohort, who will receive long-term support over a two-year development cycle. In
parallel. we piloted a Young Associates programme for school-age participants, laying the groundwork
for early engagement with creative careers.
Digital Shorts
Rifco completed post-production on two Digital Shorts commissioned through our 2023 Associates
scheme: Brown Skinhead and Pink or Blue. Both projects represent bold, contemporary voices and will be
released digitally in the coming year, strengthening Rifco's growing portfolio of screen-based work.
V&A Museum Acquisition
The V&A Museum invited Rifco to contribute to its permanent collection. Costume designer Andy Kumar
donated an original hand-drawn costume design, marking the company's inclusion in one of the world's
leading institutions for the arts and design. This recognition reflects Rifco's cultural impact and
contribution to British theatre and visual storytelling.

RIFCO ARTS
Trustees, Report
For the year ended 31" March 2025
Future
lans
Much of the following year will be focused on producing Surinderella. a new British South Asian twist on
the Cinderella story, which is set to premiere in September 2025. Planning has also begun for a second
national tour of Frankie Goes to Bollywood in 2026, supported by an additional £260,000 in project
funding. Historic Royal Palaces has also commissioned Rifco to create a series of short original plays about
Indian soldiers, to be performed at Hampton Court Palace in November 2025. Alongside this programme
of work, Rifco will continue to support its Rifco Rogas and Associate artist development schemes, release
two new digital shorts, and deliver its second fundraising gala.
Financial review
Fundraising and Income Generation
The Board and Executive set revised fundraising targets for the year ending 31 March 2025, based on
programme expansion and the outcomes of previous fundraising efforts. Overall income generation was
strong, particularly through earned income. Box office and co-production income from Frankie Goes to
Bollywood significantly exceeded projections, and when combined with Pali & Jay's Ultimate Asian
Wedding DJ Roodshow, total earned income reached £682,000. This represents a substantial return on
investment and a positive shift in audience engagement.
However, fundraising from trusts. foundations. and individuals remained below target. Non-box office
income totalled £180,000, with trust and foundation income continuing at the lower levels seen since the
Covid-19 pandemic. The same structural factors remain in place- many funders have adjusted their
priorities toward crisis recovery and essential services, and Rifco's healthy reserves, following the
pandemic, continue to present a challenge when demonstrating relative need. Additionally, several key
trusts reported ongoing reductions in grant-making capacity due to lower returns on investment and
decreased donations. The Board continues to monitor the external fundraising environment closely and
is exploring new fundraising strategies to diversify and grow contributed income in the coming year.
Reserves Policy
In determining the company's Reserves Policy. the Board has considered the Charity Commission's
guidance publication Charities ond Reserves. The Board reviews current finances, financial forecasts, and
risk exposure regularly, and assesses the reserves position accordingly.
An appropriate reserve level is crucial when producing at scale, as significant upfront costs must be
covered in advance of receiving income from touring and partnerships. Reserves also ensure:
That essential capital items, such as office IT systems and touring equipment, can be stored
or replaced in a planned cycle
That the companvs financial commitments can be honoured if a production is cancelled and
planned income cannot be realised, including obligations to venues, suppliers, freelance
artists, and creative teams

RIFCO ARTS
Trustees, Report
For the year ended 31" March 2025
As the organisation does not currently have a large-scale production planned for the immediate
future, the Board has set the reserves target at £130,0(M), equivalent to four months of core
operating costs.
211212025
Approved by the trustees on................
And signed on their behalf by
G Kanagathurai
Trustee

Independent examinerfs report to the trustees of Rifco Arts, Charitable Company ('the Companv)
I report to the charity trustees on my examination of the consolidated accounts of the Company for
the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company {and also its directors for the purposes of company lawl
you are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 20061'the 2006 Act,).
Having satisfied myself that the consolidated 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 charit¢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{51 (b) of the 2011 Act.
Independent examinerfs statement
Since the Companvs gross income exceeded £250,000, I confirm that l am qualified to undertake the
examination because l am a member of the ICAEW, 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
2. the accounts do not accord with those records- or
3. 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
4. the accounts 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 1021.
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.
Anthony Epton BA FCA cfA FCIE
Goldwins
Chartered accountants
75 Maygrove Road
West Hampstead
London NW6 2E
2010112026

RIFCO ARTS
Consolidated statement of financial activities (incorporating an income and expenditure account)
For the period ended 31 March 2025
Period
ending
March
2025
Period
ending
July 2024
Unrestricted
Restricted
Total
Total
Note
Income from:
Donations and memberships
Other trading activities
-Gross Income from Subsidiary
Charitable activities
13.630
13,630
4,771
12
496,394
371.879
496,394
371,879
1,372.328
86
Investments
Total income
881.904
881,904
1,377.185
Expenditure on:
Raising funds
-subsidiary costs
Charitable activities
12
527.505
496.095
527505
496,095
1,508,430
Total expenditure
1.023.600
1,023,600
1,508,430
Net income / lexpenditurel for the
year
{141,696)
1141,6961
1131,2451
Transfers between funds
Net movement in funds
1141,696)
1141,6961
1131,2451
Reconciliation of funds:
Total funds brought fonNard
Total funds carried forward
242.180
242,180
373,425
100,484
100,484
242,180
All of the above results are derived from continuing activities. There were no other recognised gains or losses
other than those stated above. Movements in funds are disclosed in Note 16 to the financial statements.

RIFCO ARTS
Balance sheet
As at 31 March 2025
Company registration no. 4625212
The Grou
Period
ending
March
2025
The Chari
Period
ending
July 2024
Period
ending
March 2025
Note
Period
endingjuly
2024
Fixed assets:
Tangible assets
Investment in Subsidiary
li
1.957
5.369
1,957
io
5,369
io
1957
5,369
1967
5,379
Current assets:
Stock
13.754
254,567
28,302
296,623
Debtors
13
788.901
58,647
847,548
230,429
23,523
253,952
788,901
58,647
847,548
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within one
year
14
(198,096)
{610,7371
1124,3251
1610.7471
Net current assets
98.527
236,811
129,627
236,801
Total assets less current liabilities
100,484
242,180
131,594
242,180
Creditors: amounts falling due after one year
Total net assets
100,484
242.180
131,594
242,180
Funds
Unrestricted funds-
Designated funds
General funds
16
190,000
52.180
190,000
52,180
100,484
131,594
Total unrestricted funds
100.
242.180
131,594
242,180
Total funds
100,
242.180
131,594
242,180
The Charity's financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime. The Trustees consider that the Charity is entitled to exemption from the
requirement to have an audit under the provision of section 477 of the Companies Act 20061"the Act") and members
have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the act. The
Trustees acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 with
respect to accounting records and the preparation of financial statements.
211212025
Approved by the trustees on ....................................
and signed on their behalf by..
G Kanagathurai
Trustee
The attached notes form part of the financial statements.

RIFCO ARTS
Statement of cash flow
For the year ended 31 Marth 2025
Period
endin8
March
2025
Period
ending
March
2025
Period
endinEJuly
2024
Period
endingJuly
2024
Note
Cash flows from
operating
artivities:
Net cash provided by / (used
inl operating activities
16
(31,8041
1198,9791
Cash flows from
investing
activities:
Sale/ Ipurchasel
of fixed assets
IN59
16331
Cash provided by/ (used in)
investing activities
1,459
16331
Change in cash and cash
equivalents in the year
(30.3451
1199,6121
Cash and cash equivalents at the
beginning of the year
58,647
258,259
Cash and cash equivalents at
the end of the year
17
28,302
58,647

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
Accounting policies
Basis of preparation
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 IFRS
102- effective l January 20151- (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transattion value unless otherwise stated in
the relevant accounting policy or note.
b)
Going concern
The trustees consider that there are no material uncertainties about the charitable company's
ability to continue as a going concern. The trustees do not consider that there are any sources of
estimation uncertainty at the reporting date that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c}
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions
attached to the income have been met. it is probable that the income will be received and that the
amount can be measured reliably.
Income from government and other grants. whether 'capital' grants or 'revenue' grants, is
recognised when the charity has entitlement to the funds. any performance conditions attached
to the grants have been met, it is probable that the income will be received and the amount can
be measured reliably and is not deferred. Income received in advance for the provision of specified
service is deferred until the criteria for income recognition are met.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware
that probate has been granted, the estate has been finalised and notification has been made by
the executorlsl to the charity that a distribution will be made, or when a distribution is received
from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the
amount can be measured reliably and the charity has been notified of the executor's intention to
make a distribution. Where legacies have been notified to the charity, or the charity is aware of
the granting of probate, and the criteria for income recognition have not been met, then the legacy
is a treated as a contingent asset and disclosed if material.
Donations of gifts. services and facilities
Donated professional services and donated facilities are recognised as income when the charity
has control over the item or received the service. any conditions associated with the donation have
been met, the receipt of economic benefit from the use by the charity of the item is probable and
that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021,
volunteer time is not recognised so refer to the trustees. annual report for more information about
their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis
of the value of the gift to the charity which is the amount the charity would have been willing to
pay to obtain services or facilities of equivalent economic benefit on the open market- a
corresponding amount is then recogni5ed in expenditure in the period of receipt.

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
Accounting policies (continued)
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by
the charity; this is normally upon notification of the interest paid or payable by the bank.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion
to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are
to be solely used for particular areas of the charitws work or for specific projects being undertaken by the
charity.
gl
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings:
Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in
inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a
fundraising purpose.
Expenditure on charitable activities includes the costs of delivering services and other activities
undertaken to further the purposes of the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h)
Allocation of support Costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Support COSts include back ofrice costs, finance, personnel, payroll and governance costs which
support the activities. These costs have been allocated between cost of raising funds and expenditure on
charitable activities. The bases on which support costs have been allocated are set out in note 5.
Tangible fixed assets
Items of equipment are capitalised where the purchase price exceed5 £500. Depreciation is provided at
rates calculated to write down the cost of each asset to its estimated residual value over its expected useful
life. The depreciation rates in use are as follows-
Fixtures and fittings
25% Straight Line
Computer equipment
25% Straight Line
Debtors
Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past
event that will probably result in the transfer of fund5 to a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their
settlement amount after allowing for any trade discounts due.

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
Detailed comparatives for the statement of financial artivities for the year ending 31 July, 2024
Unrestricted
Restrirted
Total 2024
Income from:
Income from donations
4,771
1,372.328
86
4,771
1,372,328
86
Charitable activities
Investments
Total income
1,377,185
1,377,185
Expenditure on:
Charitable activities
1,508,430
1,508,430
737,449
1,508,430
Total expenditure
Net income / expenditure before gains / (1055es) on investments
Net gains / Ilossesl on investments
Net income / expenditure
Transfers between funds
{131,2451
1131,2451
1131,2451
1131,2451
Net income / {expenditurel before other recognised gains and losses
Other gains / Ilossesl
Net movement in funds
{131,2451
1131,2451
(131.245)
373,425
242.180
(131,245)
373,425
242,180
Total funds brought forward
Total funds carried forward
3 Donations and memberships
Period
endin8
March 2025
Total
Period
endingjuly
2024
Total
Unrestricted
Restricted
Donations and memberships
Gifts in kind (office space from Wafford Palace Theatre)
Total Donations and memberships
5.630
8,000
13,630
5.630
8,000
13,630
771
4,000
4,771
4 Income from charitable artivities
Period
ending
March
2025
Total
Period
endingjuly
2024
Unrestricted
Restricted
Total
Income eamedlrom charitable activities
Arts Council
204.789
48,692
16.644
101,754
371.879
204,789
48,692
16,644
101,754
371,879
268,602
Other grants
Live Performance
681,641
422,086
1,372,328
Other income
Total income from charitable activities
io

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
S{a)
Analysis of expenditure for the period
Period
ending
March 2025
Total
Period
endingjuly
2024 Total
Charitable
activities
Support
costs
Staff costs
249.485
72,814
322,299
383,734
Production cost
Support fees
Other production costs
Labour costs
19.260
28.689
3,023
475
19,735
121,198
3,023
258,675
728,559
84,371
92.509
Support C05t
Rent
22,909
316
22,909
316
49,114
55
Internet and website costs
Depreciation
Board Expenses
Governance cost
1,953
195
1,953
195
863
Bank interest and charges
Examiner fees
218
218
190
4.250
4,250
2.870
Total
304.925
191.170
{191,170}
496,095
1,508.430
Support costs
191.170
Total expenditure for
period ending March
2025
496,095
496,095
Total expenditure for the
period ending July 2024
1,508,430
1,508,430
Of the total charitable expenditure. £496.095 was unrestricted12024- £1.508,430} and nil was restricted
{2024.' Nill.
li

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
5{b) Comparative analysis of expenditure-prior period ending July12024)
Period
ending Julv
2024 Total
Charitable
activities
Support
costs
Staff costs
Production cost
Support fees
Other production costs
Labour costs
Support cost
Rent
Telephone and internet
Depreciation
Board Expenses
Governonce cost
Bank interest and charges
Examiner fees
355.063
28,670
383,734
175,383
507.648
84,371
83,292
220,911
258,675
728,559
84,371
49,114
55
863
49,114
55
863
190
2.870
1,125,526
382.905
190
2,870
1,508,430
382,905
1382.9051
Support costs
Total expenditure Julv
2024
1,508,430
1,508,430
Of the total expenditure, £1,508,430 was unrestricted and Nil wa5 restricted.
12

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
Net incoming resources for the year
This is stated after charging / crediting-
March 2025
July 2024
Depreciation
Independent examiner's
fee5
1.953
863
4,250
2.870
Analysis of staff costs, trustee remuneration and expenses. and the cost of key management personnel
Staff costs were as follows-
March 2025
July 2024
Salaries and wages
Social security costs
Employer pension contribution
Freelance staff costs
Staff travelling
261,765
16,138
7,576
25,189
11,632
301,828
5,817
10,298
47,607
18,184
322,299
383,734
The total employee benefits including pension and national insurance contributions of the key management personnel
were £59,121 (July 2024.. £27,225).
The charity trustees were not paid or received any other benefits from employment with the charity in the period (July
2024: £nill. No charity trustee received payment for professional or other services supplied to the charity (July 2024:
£nill.
No trustees received any payment or reimbursement of travel and subsistence costs.
Staff numbers
The average number of employees during the yearwas as follows-
March 2025
No.
July 2024
No.
24
Charitable activity
Support
Governance
13

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
Related party transactions
Rifco Productions Itd is wholly owned subsidiary. The intercompany balance owed by Rifco Productions Itd at the
period end was £94,607. (July 2024- £73,903}
The charity is a member of the 'Real Resources" a charity registered in England & Wales. The charity received a grant
of Nil (July 2024.. Nill.
There are no donations from related parties which are outside the normal course of busines5 and no restricted
donations from related parties.
Pravesh Royalties:
Prave5h Kumar, Artistic Director and Chief Executive Officer, received £7,219 in royalties for his work as a writer
on Frankie Goes to Bollywood. This writing work was undertaken outside the scope of his employment duties. The
payment represents one third of an 8 percent royalty on box office receipt5 and wa5 made at standard UK Theatre and
Writers, Guild rates.
Investment:
In July 2024 Rifco Arts raised external investment to support the run of Frankie Goes to 8ollywood at the Southbank
Centre. London. Ravleen Beston {Board Member}. Pravesh Kumar (Artistic Director and Chief Executive Officer), and
George Warren IExecutive Producer) each made a risk-bearing investment on exactly the same commercial terms as all
other external investors. Their capital was returned strictly in accordance with those terms and at the same time as all
other investors. No related party received any preferential terms or financial benefit.
10 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable
purpose5.
11 Tangible fixed assets-
Group & Charity
Fixtures,
Fitting &
equipment
Plant and
Machinery
Total
Cost
At the start of the year
Additions in year
Disposals in year
At the end of the year
25,469
10,000
35,469
1,459
24.010
1,459
34,010
10,000
Depreciation
At the start of the year
Charge for the
year
Eliminated on disposal
At the end of the year
20.100
10,000
30,100
1.953
1,953
22.053
10,000
32,053
Net book value
At the end of the year
1,957
1,957
At the start of the year
5,369
5,369
14

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
12 Investments
The charitable company holds IOOYO of the ICM) issued ordinary £1 Share capital of Rifco Production Ltd (Company
Number 156444181, a company incorporated in England and Wales. Rifco Production Ltd develops and produces new
plays and musica15, touring nationally to some of the UK'S most prestigious regional theatres.
Relevant financial information regarding Rifco Production Ltd is as follows:
2025
2024
Box Office income
393,202
103,192
496,394
1520,566)
124,172)
16.9391
Theatre tax relief
Total Income
Direct costs
Gross Ios5
Administrative expenses
Net Ios5
131,1111
Net Assets/liabilities
(31.111)
The results of Rifco Production Ltd have been consolidated on a line by line basis and included under activities for
raising funds both under Income and Expenditure.
13
Debtors
The Group
Period
ending
March 2025
Total
The Charity
Period
ending
March 2025
Total
Period
endingjuly
2024 Total
Period
endingJuly
2024 Total
Trade debtors
75.279
696
7.283
352,863
404,731
24,024
68,278
95,303
41.331
900
7,283
352,863
404,731
24,024
Other debtors
Accrual for tax relief
153.075
Prepayments
Deferred Income accrual
24,617
24,617
254,567
788,901
230,429
788,901
15

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
14
Creditors: amounts falling due within one year
The Group
Period
ending
March 2025
Totsl
The Charity
Period
ending
March 2025
Total
Period
endingjuly
2024 Total
Period
endin8July
2024 Total
Trade creditors
Other creditors
81,462
76715
136,923
313,614
21,891
76.715
136,923
313,624
Loan < one year
Accruals
14,200
25719
2.750
157,450
25719
2,750
157,450
Deferred income.
198.096
610,737
124,325
610,747
Deferred income
The Charity
Period
ending
March 2025
Total
Period
endin8July
2024 Total
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
157,450
(157,450)
137,691
{137,6911
157,450
157,450
15 Analysis of net assets between funds
General
unrestrict
Designated
Restricted
Total funds
Tangible fixed assets
1,957
1,957
Net current assets
98.527
98,527
Net assets at the end of
the year
IOON84
100,484
16

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
16 Movements in funds
At the
Start of
the Period
Incoming
resources
&gains
Outgoing
resources &
losses
At the end of
the Period
Tran5fer5
Restricted funds:
Total restricted funds
Designed funds
Production and Capital
Replacement
190,000
1190,0001
General funds
Unrestricted
Funds
Total unrestricted fund5
52,180
242,180
881.904
881.904
{1,023,600}
11,023,6001
190,000
100,484
100,484
Total funds including
pension fund
242,180
881,904
11,023,600}
100,484
Purpose of the designated funds
The designated funds are to use for production and capital replacement.
17 Reconciliation of net income l (expenditure) to net cash flow from operating artivities
Period
ending
March 2025
Period ending
July 2024
Net income / (expenditure) for the reporting period
Depreciation
Ilncreasel/ decrease in
stock
Ilncreasel/ decrease in
debtors
Increase/ Idecreasel in
creditors
{141,696)
1.953
{131,2451
864
113,754)
534,334
{441,1401
1412,641)
372,542
Net cash provided by l (used in) operating activities
131,804)
{198,9791
18 Analysis of cash and cash equivalents
Atl
August
2024
Other
changes
At 31 March
2025
Cash flows
Cash at bank and in
hand
58.647
130.3451
28,302
Total cash and cash
equivalents
58.647
(30.345)
28,302
17

RIFCO ARTS
Notes to the financial statements
For the period ended 31 March 2025
19 Operating lease commitments
At the balance sheet date, the charity had no financial commitment under non-cancellable operating leases.
20 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of
winding up is limited to £1.
21
Analysis of net assets between funds- prior period ending July (20241
General
unrestricted
Total
funds
Designated
Restrirted
Tangible fixed assets
5,369
5,369
Net current assets
46,811
190,000
236,811
Net assets at the end of the
year
52,180
190,000
242,180
At the
start of
the
year
Ib)
Movements in funds (20241
Incoming
resources &
gains
Outgoing
resources &
105ses
At the
end of
the year
Transfers
Restricted funds:
Total restricted funds
Designed funds
Production and Capital
Replacement
190.000
190,000
General funds
Unrestricted Funds
Total unrestricted funds
183.425
373,425
1.377,185
1,377,185
11,508,430)
{1,508,430)
52,180
242,180
Total funds including
pension fund
373.425
1.377.185
{1.508,430)
242.180
Purpose of the desi8nated funds
The designated funds are to use for Production and Capital Replacement.
18