Reglstered number: 06548321 Charity numb8r: 1125342 NEW ADVENTURES CHARITY (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NEW ADVENTURES CHARITY IA company Ilmlted by guarantee) CONTENTS Page 30 Chalr's Introductlon and Trustses. ￿POrt - 800 attachod Chalrfs Introductlon Tru8taa8' raport 3-29 Indopondont auditors. roport on tha financial statements Consolidatsd statoment of financial activitles 35 Consolidated balance sheet Charlty balance sheet 37 Consolidated statsmant of cash flows 38 Notss to tha financial 8tstemeni8 39-63 NEW ADVENTURES CHARITY (A company Ilmtted by guaranto01 CHAIR'S INTRODUCTION FOR THE YEAR ENDED 31 MARCH 2026 As I look back ov8r the past y8ar with New Adventure8, l am remlnded once again of the Iransformative power of art to bind us together, Dan￿, in ils purest form, is both fleeting and etèrnal - a moment of movement, light . and sound that vanishes a8 Soon as it arrives yet lingers in memory long after the curt4in falls. It is this duality- the fragile and the tlmeless- that continues to defin6 our journey. New Adventures has n&var baen content simply to perform. Our mission has always been to invite people Sn- to creat8 work that resonates with audiences of every age and background. that spark8 Conversation, provokes thought and offers joy. Thi8 year, through bold touring, digital innovation and communty connection. we have r8ached further and touched more lives than ever before. Yet what makes me most proud is not only the scale of our achi8v8m8nts but th8 spirit in which Ihey were awomplish8d.' with re8ilienc8, indusivity and an unwaveTing belief that dance is for everyone. This ha8 been a yèar when New Adventures has once again demonstrated the breadth of Its ambition and the depth of our artistry. Our stages have beèn fi118d with familiar favourite8, bold r&vivals and intematlonal journeys that carried thè company'g unique voice tts new audlences across the globe, Edward Scissorhands returned to our repertolre after a nine-year absen￿, and the respons8 was extraordinary. Across 42 performanc8s in six venues, more than 42,000 peop18 W6re captivated by thls haunting, tender story. Half of the dancers in the company came through our development programmes - a powerful r8minder that investment in talent today shape8 the das8iC8 of tomom)w. Additional rehearsa5 weeks ensured wellbelng, mental health. and EDIA training were not an afterthought bul a cornerston8 of the production's success. Romeo and Juliet travelled further afleld, ￿sitIng nine cities across Asia. including Tokyo. Seoul, Shanghai and Beijing. Over the cours6 of 70 performances, more than 30,000 audlence members experfenced Shak8speare's tale reframed through Matthew's radical lens. Once again, new talent took centre stage with a signlflcanl percentage of th8 cast progressing through their own pathways. And of course, Swan Lake - our signature production, reaffirmed its place in the h8arts of our audiences. Th8re was so muth to celebrate beyond the 30th anniversary of this wild and wonderful show, including record box office and more than half of the Company coming through our talent developm8nl initlatlves, a proud testament to our enduring commitment to nurturing dancers who will shape the future of Brltish theatre and dance.. These productions were,not only successful in terms of numbers. Our impact and insight surveys confinned that aUdIen￿S consistently rated their experien￿$ be￿een 80 and 900k on key m88sures such as qualty, r8levance and emolional impact. While there is always more to learn, these results afflm that N8w Adv6nlures contlnues to deliver worf( thal 18 distinctiV8, r8sonant and deeply meaningful. But beyond reviews and data, what ling8rs most are the moments.. the hush before a curtain rises, the collective awe at the magical scenes on stsge, the slanding ovations and more pérsonally overhearing inspiring audience reactions a8 they leave the theatre, watching the brillian¢e of the teams in action and the excitement and inspiration that I get from my anTrzing Broup of f811ow trust&es -- equally committed to-the cause. These are the reminder84hat-while 8tatistiC8 tell part-of.th&8tory.. the true impact.of-our-work lies in the mamorles we. create and the ¢onne¢tions we forg8. If our mainstage productions showcase the s¢ale of New Adventures, artistry, then our community and access work r8veal its soul. This year we have worked tirelessly lo bring dance to n8w places. new people, and cr8at6d new possibilities - ensuring that the transformative power of movement is fell far beyond the theatre. Through Doorstep Duets, now in its fourth year, we brought worfd-class dance into the everyday lives of communilies across the Southeast. From care homes tc community gardens, libraries to shopping centres. Our work in schools and with young people also de8pen8d. We delivered workshops to more than 700 puplls. many of whom had never experIen￿d ballet before. These moments and memorles mean as much to our Page 1 NEW ADVENTURES CHARITY (A company Ilmlted by guarantee) CHAIR'S INTRODUCTION (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 teams who facilitate them as we hope Ihey do to those young pBopl8 who bravely give themselves to these experiences. We constantly hope that these Yirst times. are never the lasl times. Accessibility remains a core priority for the company. We provided free tickets, audio descriptlon In eiiery v8nu8, and BSL interpretation for multiple performan￿8. our work and engagement with diverse communities refiects our wnslstent and Buthentic commvcment to a bold and inclusive vision securing Slr Matthew BDum8's outstanding18gacy not only by entertaining and inspiring audiences worldwid6, but by ensuring that his work Continues to evolve, resonate and welcome. At the heart of this vlslon is Matthew's cr8ative brilliance and our.dancers wh088 8Xtraordinary skill, 8tamina and artl8try bring Matth￿'S stories to life with humanlty and for￿. l am filled wilh gralitude to them, alongslde the countless individuals who make this company what It Is., the creatlve teams, our d8dicat8d administrative staff and ex8CUtIV8 t8am, our patrons and partners and of Course, our audien￿8 - whose loyalty and passion breathe life into every pefft)rmance. Despite a shlftlng and economic landscape, ourjoumey ahead will ask us, once again to be ambitioljs, inventive and bold. W8 will continue to nurtute tal8nt, expand our reach both at home and abroad and ensure thal every stage we step into is more inclusive, more welcoming and mor8 representative of the worfd araund us. Art at its best is notjust a perfomance, but a communion and collective search for mèaning. This ig the gift that New Adv8ntur6s gives, and the promise we will Carry forward. Let's all look forward to an exciting next tha'pter B￿nda Emmanus OBE Chalr of the Board of Trustee8, New Adiientures. Page 2 NEW ADVENTURES CHARITY (A Gompany Ilmltsd by guarantsa) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES REPORT The Trustees present their annual report together with audited financial statements for 1 April 2024 to 31 March 2025. The Trustees conflrm that the Annual Report and flnancial statements of the company comply with the current statutory requirement$, the r8quir8m8nts of the company's governing document and thé provisions of the Ststement of Recommended Practice {SORP), applicabl8 to charities prèparing th8ir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffectlve 1 January 2019). Since the charity and the group quallfles as Small und6r sectlon 383, the stratsgic report required of medlum and large companies under The Companies Act 2006 {Stralegic Report and Director's R8POrt) Regulations 20131s not required. Page 3 NEW ADVENTURES CHARITY IA company limited by guarantee) PUBLIC BENEFIT STATEMENT In setting objectives and planning for activities, the Trustees have given due consideration to the general guidance published by the Charity Commlssion relating to public benefiL GOVERNANCE & MANAGEMENT Constltutlon The Charity is controlled by its governing document, a deed of trust, and constitutes a limited companyi Ilmlted by guarantee, as defined by the Companies Act 2006. The charity is a company limited by guarantse and not having a share capital, incorporated on 29 March 2008, and governed by the Memorandum and Artlcles of Associatlon as amended on 2 May 2019. In accordance with the Memorandum and Articles ofAssoclation, there must be at least three Truste85. Method of appointment or election of Trustees The Charity's TNstees are appointed at quarterly trustee meetings following an open recruitment procèss based on relevant attributes including personal competence, Specialist skllls and availability. Each Trustee serves a three-year temi wlth the option to stand for a second term, with a maximum tenure of slx years. This ensures r9gular, renewal of skills and expertise on the Board. Before appolntment, potential Trustees must complete a Register of Interests form. Policies adopted for the Inductlon and contlnued tralning of Trustee5 New Trustees are pmvided with comprehensive induction materia15 including Charity Commission guidelines on Tnjstee Responsibilities, the Charity's governing document, recent annual reports and accounts, and other essential information. All Trustees participate in a formal Induction process to ensure sufficient understanding of the Charity s activities and resources to fulfil their duties effectively. We work to ensure that our Trustees have the relevant skills and experience and carry out a trustee skllls,audit on an annual basis. We recognise the importance of advocacy and work closely with our trustees to equip them with the right tools to promote and represent our work as well as training opportunities. Trustees are encouraged to undertake training both where gaps in knowledge and experience are identified and to maintain collective expertise in good govemance. None of the Trustees has any beneflclal Interest in the charitable company. All the Trustee5 are members of the charltable company and guarantee to contribute £1 in the event of winding up. Page4 NEW ADVENTURES CHARITY (A company Ilmlt8d by guaranteo) Organisational Structure and Declslon Maklng The Trustees meet quarterly and ar6 responsible for ensuring the charitable alms, objectives and programme of actlvity are delivered by the Senlor Leadership Team as set out In fundlng agreements and the three-year budget. The TNstees determine bhe Charity's general policy and are legally responslble for overall management. Day-to-day operations delegated to the Senior Leadership Team comprislng the Artistic Director, Associate Artist1¢ Dlrector, Group Managing Director and Executive Director. The Trustees havetwo SutFCommittees supportto supportthe Board'swork: the Finance & Audit Sub- Committee and the Development Sub£ommittee. Both currently include external members with relevant experience and skills and meet four times annually prior to full Board meetings. Pay Policy for Senlor Staff Annual remuneration for all staff isapproveé at trustee level. Management salarles are set appropriat2ly for the level and responsibility withln the Charity, considering job descrlptlons and industry standards and practice. Trustees do not recelve any remun8ration. Appointment and R8tiremenl of Trustees Trustees are appointed lor elected) at quarterly trustee meetings. Each twstee signs up to serve a threewyear temi with the option to stand for a Second term, the maximum time any trustee can serve is six years12 x three- year terms) whlch means the trustees are refreshed with new skills and expertise on a regular bas1S. RISK MANAGEMENT The Trustaes maintain a comprehensive approach to rlsk management, examining major strategic, financial, reputational and operational risks facing the Charlty. Systems are in place to enable regular reporting and monitorlng, allowing timely action to Thitigate identified risks, The risk register is reviewed quarterly bythe Finance and Audit Stsb-committee and updated by the Executlve Team as an active management tool. The Trustees are satisfied that appropriate systems and contn)Is are in place to mitigate exposure to major rfsks. Prlnclpal Rlsks and Mitigations The Trustees have identified the following principal risks and mitigating actions: FinancSal Sustslnablllty: The challenglng funding environment presents a rlsk that fundraising targets may not be met, requiring adjustments to budgeted incorne. The Charity mltigates this by bulldlng contingencies into b￿dgets, Maintaining réseNes in accordance with the feserves policy, implementing a comprehensive fundraislng strategy, and consistently revlewing the impact of extemal economic factors on operations. Safeguardln&. Given the Charity's extenslve work with schoo5s, young people and communities, safeguarding remains a key priority. A safeguarding working group comprising Executive and Trustee members monitors and reports on the action plan. All projects undergo risk assessment with appropriate measures implemented and clear reporting mechanisms in plac@. The Charlty has an excellent track record in this area and continues to adapt practice in response to changing circumstances and best practice guidance. Page 5 NEW ADVENTURES CHARITY IA company Ilmlted by guarantse) Economic Pressures: Increased inflation and cost of Ilvlng irnpacts affect multlple aspects of operatlons including audience disposable income, production costs, salaries and staffing16vels. The Charity manages this through regular budget reviews Wlth all budget holders, protecting reserves, and maintaining f inancial oversight through the Chief Operating Officer who ensures robust tracklng and flnanclal responsibility. The Leadershlp Team maintains regular communication to monit'or the evolving situation. Both the Leadershlp Team and Trustees maintain onEoing awareness of these principal risks alongside Other identified risks facing the organisation, with regular monltoring and review processes embedded in governance stnjctures. GOING CONCERN The audited accounts for 2024125 reflect a healthy reserve position in line with the Charity's reserves policy, demonstrating continued financial resilience and stability. The year-end closed in surplus, and the current reseNes position combined with robust financlal forecasts provide the Trustees wlth confldence that the Charlty can continue to deliver its charitable impact for a minimum of 24 months. Durlng this period, priorfties include strengthening relationships wlth new and longstanding trusts and foundations to secure future funding. malntalnlng audience and venue confidence in the Charity's worK" and developing strateglc partne￿hIpS to sustaln thls posjtive financial posluon beyond 2024125. The Trustees have reached thi5 concluslon based on the current cash posltlon, sound financial forecasting proce5se5, and regularcommunlcation between the Executive Team and the Flnance and Audit Sub-committee. Following this assessment and after making appropriate enquiries, the Trustees have a reasonable expectation that the Charity ha5 adequate.resources to continue in operational exlstence for the foreseeable future. For thls reason, they continue to adopt the going concern basis in preparing thB financial statements. Page 8 NEW ADVENTURES CHARIPI (A company limlted by guarant80) Charltsblè Objectlves Our Charitable objectives as set out in the Memorandum and Articles are: To advance the education of young people, Dance Artist and the public paitlcularly, but not exclusively, through the provision of workshops and classes with specific, but not exclusive, referenceto the dance choreography of Matthew Bourne. To advance the arts for the b8n6fit of the general public by encouragement of access to and engagement with the art of dance. OVERVIEW For nearly 40 years, Matthew Bourne's New Adventures has been an iconic, ground-breaking British dance-theatre company. famous for telling stories with a unique theatrical twisL Since 1987 New Adventures has changed the popularity of dance in Britsin, creating works that have altered the public perception of what is possible when It comes to telling stories without words. Our artistlc director, Matthew Bourne, has been a pivotal force in the evolution of contemporary dance, having pioneered dance-theatre as a distinct genre in England and internatlonally. W8 contlnue to be choreogr8pher-led by Matthew Bourne, and we are proud to present ourwork in more large-and mid-scale venues than any other dance company in Britain. In 2024-25, we toU￿d for over 50 weeks with 3 productions, consistently offering more performances than anyoth¢r NPO fundeddance touringorganisation in England (source.. Ivpo Metrics report, Data Culture Change, 2025). As well as creating world-class productions on-stage, we firmly believe in investing In the future talent and leadership of ourcompany and ofthewiderdance and creative ecology ol the UK. We offer an extensive range of pathways into thecompanyand wider industryfor promising young dancers, as well as nurturing backstage and off-stage careers. Our flagship talent development programmes, Cygnet School, Swan School and Overture, continue to flourish and provide opportunities to engage with our methodology and ourwork and to meet newtalent. During 2024-25, we delivered 158 talent development sessions to 19Q9 attendees. We also have an ongoing commitment to supporting, developing and investlng in exi5tinE members of the New Adventures and dance communities: perFormers, creatives, crew, staff, dance artists and participants. Through investment in our existing talent, we will build a resllient organisation for the fvture. In ourschools and community programmes, uslng our bespoke methodology, we deliver creatively ambitious and inclusive participatory projects. We work with a range of partners such as schools and colleges, local authorities and venues, introducing people of all ages to the joy of creativity and the wonder of 5ive theatre. We seek to support the diversification of audiences for dance through activities focused on reaching groups who traditionally have le5S Opportunity to engage with dance, leveraglng our reputstlon for introducing people to dance for the first time. Page 7 NEW ADVENTURES CHARITY (A company limited by guarantee) We continue to Strengthen our organlsatlonal resilience to enable our relatively small team to deliver an extenslve programme of perfom]ances and projects efficiently with maximum impact. In 2024125, we continued to align with our Mission and Goals, to Insplre our work, focus our strateglc ambition and strength@n our unique business model: MISSION Openlng a world ofjoy, wonder, connection, and creatlvity GOALS, which are mutually reinforcing I, Staging world class performances, In Matthew Boumg's signature danc&-theatre style, In usual and unusual places 2. Widening access to the arts 3. Nurturlng and supporting talent that represents UK soclety Collaboration remains key to our operating model and this year we have continued to develop strategic partnerships that enable us to support local arts ecologle5, work with communities and widen access to our work across the UK and beyond. Proudly based in the SoutheasL we deliver extensively in this region and beyond alongside our Placemakingvenue partners. In 2024125,. 290,399 people (previous year 401,990) attended 336 New Adventures performances (previous year3971 as an audience member. We had over 375 Take Part activity sessions, with 7,657 attendances. 1,912,517 people (previous ye_ar 1,643,736) engaged with our work online through REEL Adventures. We supported 105 dancers via paid employment on a tour for a total of 5,460weeks Page 8 NEW ADVENTURES CHARITY (A company Ilmlted by guarantee) PERFORMANCE ON STAGE In 2024125, we toured 3 of our world-class, large-scale dance theatre productions, Romeo & Juliet, Edward Scissorhands and Swan Lake to every region of England, plus th8 rest of the UK and internationally for a total of 35 week5. Romeo andJullet Remount, Intematlonal Tour The production contlnued its international tour in 2024. The show toured to 9+ venues in Asla (Tokyo, Seoul, Busan, Shanghai, Beijing, Guangzhou, Macao, Taipei and Kaohsiung) overa period of 11 weeks, deliverlng 70 performances and reachlng 3Q,710 aLidiences internationally. Edward Sclssorhands Remount, UKTour Edward Scissorhands continued its tour to UK theatres in Sprlng 2024. Theshowtoured to 5venuesoverapetiod of5weeks, delivering 35 performances and reaching32,916 audiences nationwide. It featured 32 dancers and engaged 35 offstsge workers and crew and provided over800weeks of employmentacrossthetour. Over50% ofthe dancerscame through oneofourtslent development programmes. 9,714 people also saw Edward Scissorhands in Am5tefdam across 7 performances. Tre show received an average rating of 75% for'Distinctiveness' from audiences in Bradford, Ivewcastle and Norwich who respondecl to the post-showsurvey sent uslng Arts Councll England's Impact and Insight Toolklt. Swan Lak8 Remount, UKTour "The showthat changed the dance landscape FOREVER ***** The Observer Matthew Bourne'sswan Lake retumed forlts30th anniversarytourthisyear. Thisaudacious reinvention of Tchaikovsky's masterpigce caused a sensation when It premiered almost30years a8oand has since become the most successful dance theatre production ot all time. First staged at Sadler's Wells in London in 1995, Matthew Bourne's Swan Lake took the dance theatre world by storm becoming the longest runningfull-length dance classic in the West End and on Broadway. It has since been performed acr05S the globe, collecting over-thirty-internatlonal-8cc6lades includingthe Olivier Award for Best New Dance Production and three Tony Awards.for Best Director of a Musical, Best Choreography and Best Costume Design. Swan Lake took f light once more in this major revival for the next generation, touring to 10 venue5 over a period of 20 weeks, delivering 149 performances and reaching 212,748 audiences nationwide. It featured 43 dancers and engaged 21 offstage workers and crew and provided over 2,159 weeks of employment across the tour. 5610 of the dancers came through one of our talent development programmes. Dan￿r5 were supported by additlonal rehearsal week to support well-being, mentsl health and EDIA training: Page 9 NEW ADVENTURES CHARITY (A company limited by guarants8 Self-care and managing anxlety on tour, with Crystal Nichols Neurodiversity Refresher, with Lucy and Luke from Access All Areas Dlsability Equality with Michele Taylor Trans and Non-Binary Allyship with Global Butterflies Unconscious Bias with Antoinette Wilcox 3,500 audience members from Salford, Birmingham, Nottingham, Norwich and Southampton tsvlewed Swan Lake well above 89% (most above 90%) across all k&y outcome measures, except for Distinctiveness f76% Birmingham - lowest on this measure) and Understandlng (77% at all venues, except for Nottingham 78%). Access Performances In January 2025, New Adventures produced its thlrd Sensory Adapted Performance ISAPI performance, this timeof Swan Lake. An SAP is an extension of a Relaxed Performanc8, creating a less formal and more supportive theatre environment and includlng some modlfications to the show. SAPS are sultable forthose who may be on the autism spectrum. have sensory sensitivities, epllepsy, learning disabiliti8s andlor difficulties, experience neurodiversity. and anyone that might benefit from a more supportive environment. There were 1,311 total bookers, with 20% attending forfirsttime Ipreviously36%1. 27Yo of the audience identified as Dldeaf or disabled and 80% of the audience said they would attend a relaxed or SAP at Sadler's Wells again. Throughout all our productions, we offered 28 Audio Described performances and touch tours with 126 audience members attending an audio described performance, advertised vla a dedlcated Access page on our website and that of partner venues. A Vlsual Guide, Sonlc Story and Sensory Introduction film of Swan Lake were made available foranyonewho would benefit from familiarising themselves with what to expect before attending a performance. We continued toworkwith presentingvenuesto allocate30 free audience developmenttickets at each venue la total of 1,185 tickets for 2024-251, specifically ring-fenced for targeted groups includingthose who have not prevlously attended the theatre, young people, as well as participants in our engagement projects. 9 post-show events Iprev.iously 11) offered the general audienc6 unique insight into the making of the show, with all these events being BSL interpreted 8nd over 1,500 (previously 3000) people attending "It was the best sensory adaptedperf0rfflan￿ I've been to." Swan Lake SensoryAdapted Performance Audience Member 2024125 Totsl Attendances by Region Southeast North Southwest Mldlands London TOTAL England RestofUK TOTAL UK 20,600 -58,021 36,089 29,979 90,123 234812 15,163 249,975 .Pag8 10 NEW ADVENTURES CHARI IA company Ilmltod by guarant80) ON SCREEN: REEL ADVENTURES We continue to engage audiences in spectacular dance through film, broadcast and dlgitsl platforms, extending our reach and access to our work nationally and Internatlonally. There a￿ multiple ways in which audiences can watch our shows online, includingon BBC iPlayer, Marquee TV and Sky Arts and on the big scre6n worldwide through Trafalfar Releaslng. In 2024125, 205,000 people saw our productions In Cinema, broadcast orvia streaming platforms,. when you Include dlgltal engagement with our YouTube content and views of our Edward Scissorhands resources on Sky's Access All Arts platrorm, that figure rises to 1.91m people. Sleeping Beauty continues to be streamed on BBC iPlayer in the UK and had an estimated 10,DQO views. Edward Scissorhands was screened on Sky TVINOW and had 60,600 viewers. It continues to be streamed on Sky TV/Now In the UKand on Marquee TV in some regions intematlonally, wlth estlmated views of 10,000. Working alongside multiple internatlonal partners Ibroadcast networks and online plattormsl, a total af eight productions streamed and broadcast across the worfd (The Car Man, Clnderella, Nutcrackerl The Red Shoes, Romeo and Juliet, Sleeping Beauty, Swan take, Edward Scissorhandsl. W6 estimate 179,760 views either via broadcast or streaming across the world. Clnema Screenl The were 710 screenings of Edward Scissorhands In cinemas across the UKto 15,182 people and 529 screenlngs of Edward Sclssorhands in cinemas across the rest ofthe worfd to 10,115 people. Therefore, streaming, broadcast and cinema screenings glves an estlmated total of approximately 205,000 views of our productions on screen. nline En ement On our dlgltal platforms, we focus on giving audiences an opportunity to connect with the joy, wonder and creativity of New Adventures wherever they are in the world..We have introduced a three-pillar 5trateEYI communicating our what, our why and our how across soci81 platforms. Our strategy puts the audience first (rather than the platform), places dance at the forefront and prloritlses quality over quantity. We have increased time spent on community management to nurture our relationship with loyal fans and make stronger conne¢tions wlth audiences and future talent. In 20241/25, Eclwardscissorhands was featured in StyArts'Access AIIArts programme, and was seen by estimated276,830. children..In.¢lassrooms. The Car Man and Swan Lake were featuredin materlal included in Rambert Grades seen byan estimated 350-400 students Iwith 66 teachers trained in materlal delively). In 2024125, we have had net audience growth of 19,795. On our core platforms (Facebook and Instagram), we posted 652 times and had 767,097 engagements with New Adventures content. We also had 771,000 website views and 251,000 newwebsite users during th6 period. Page11 NEW ADVENTURES CHARITf (A company limited by guarantee) 2024125 Totsl DiEltal Content Broadcast and streaming Iv￿eWs) Cinema Screening Itickets sold) Access All Arts learning resource YouTube content views Social media content engagement TOTAL 179 760 25,927 276,830 1430000 767,097 2,679,614 TAKE PART TALENT DEVELOPMENT New Adventures contlnues to commit to discovering and nurturing raw and emerging talent across the UK and continues to develop New Adventures company members, careers both on and off stage. We protride on-going development opportunitles for f reelancers, Industry professionals and aspiring dancers. Pre.Vocational In residence at The Marlowe, Canterbury, our pre-vocatlonal training programme for young people, Cygnet School, launched in July 2021 to provid@ a much-needed pathway between New Adv8ntures' existing participation work and Talent Development opportunities. This year's Cy8net'sSchool cohort is comprised of 16younE people aged 12-18, each passionateabout dance, developing new skills and exploring dance as a professional pathway. The programme Is fully subsidised for all the participants ensuring that there are no barriers to access. Qverthg course of 12 months thisgroup came togethertor monthly residential weekeDds and aweek's summer residency, exploring and performing the unique aspects of New Adventures, work, style, and trainin& The Cygnets spent the year developing their musicality, character, technique and expression within each monthly session. Having watched and studied Matthew Bourne'5 Swan Lake at Sadler's Wells, they worked on creating a curtain raiser piece to perform on Marlowe Theatre's main stage, Cygnet School also collaborated with Jasmin Vardimon Company to exchange storytelling movement styles and connect with other like-mlnded dancers. Through Shine a Light sessions with Marlowe Theatre departments, participants gained insight into the inner worklngs of theatre5 and the dance industryi leamlng about dlfferent career pathways in the arts. The New Adventures team t&aching and workingwith the young people include Resldent Dance Artists Glenn Graham, Dance Artlst Sophia Hurdley and Isaac Bowryi Overture alumni Grace Black and Canterbury Chrlst Church Student Caterina Giannotti. We have contlnued working with Professor Angela Pickard from Cantert)ury Christ Church UrTiiiersity to evaluate the programme, ThAs Talent Development programme received average ratings of 93% for 'Artistic Skills, and 94A for 'Achlevem@nt' from participants via the survey sent using Arts Council England s Impact and Insight foolkit. 83% of them said they would participate again, 100% said they experienced joy, and they described thelr experien￿ with the following three words - fun, exciting andsupportive. Page 12 NEW ADVENTURES CHARITY (A company limlted by guaranteo) 'The Cygnetschool team utilise theirexperience as professional DanceArtists with NewAdventures and apply enabling pedagogy (the choices ol methods of teaching and learnlng), to develop a studio environment where the cygnets experience joy, connection and creativlty, and£￿ motivated to achieve high quality artistic outcomes. Cygnet School is maldng a difference to the lives ol these young people Inside and outside of the studio it is opening doors to new worlds of creative possibilities and adventures.. Cygnet School Evaluatlon Report Pre-Professlonal and Vocatlonal nservat I We work closelywith dance Schools and conservatoiresto help nurtur@, develop, and support the next generation of talent. This work includes workshops, mock auditions. residencies, career talks an¢ Q&A5. In 2024125, our DanceArtistsdelivered69workshops Ipreviousyear 171 and workedwlthyoung peopk from 17 institutions (previous year 141 Including Royal Ballet School, The BRIT School, Tring, Italia Conti, Liverpool Institutefor Performing Arfs, Laine Theatre Arts, Elmhurst Ballet School, Northern Ballet School, London Contemporary Dance School and Rambert. 'The workshop was brilliant. The Dance Artist deliveredsuch an informative and supQDrtive session and the student feedback has been great., Careers Manager, Performers College, Essex Durlng 2024Q5, 3,253 people took part in 132 Talent Development sessions. A Seasonal Adventure Over three days, 30 graduates of vocational dance training courses were introduced to our repertoire and invited to explore New Adventures, trademark creative processes. Days are made up of class, repertoire and creative tasks with emphasis on areas unique to thg company which could include duet work, storytelling.through movement and character work. This year also Included sessions on Navigating the Industry, Performance and Characterisation, Freelance Tips for Self-Promotion and an Audition Wothshop. This Talent Developmentprogramme received average ratings of 96% for 'lnsight' and 97% for 'Artistic Skills, from 29 participants that took part in the sUr￿eY sent using Arts Council England's Impact and Inslght Toolkit. 98% of them Said they wouldparticipate again, 96% said theyexperiencedjoy, and they descrlbed their experience with the following three words - inspirlng, informative and insightful. '1 learnt aboutnavigating the industry through a psychological lens which was inslghtful, as ithas given me ways to handle audition nenEs.' A Winter Adventure_par.ti¢ipant This year saw the pilot year of a new Placement Programme to provide paid work experience in technical departments, d@signed to ensure long-term inclusion and remove barriers to accessing a career in the performing arts. The prograrnme around Swan Lake was a huge success, providlng placement opportunitles over a large geographical spread wort(ing with our Placemaking venues and extendlng the offer to other areas ofthe UK. In total in 2024125, we have hosted 31 placements fora total of 217 days which is 1,736 hours of hosted placements. We have also gone on to employ4 of the participants. Page 13 NEW ADVENTURE8 CHARITY (A company limited by guarantee We're contlnulng the programme next year and are establishing and strengthening relatlonships with other partners such as The King's Trust to reach young people who are outside our usual theatre orbit and might not have consldered a career in the performing arts. '1 hadan absolute ball and learned so much from the team. I was able to flt in so w811 with everyone and felt Ilke I belonged, Itexceeded my expectations and solidified my ideas for my future career as a hopeful touring crew member with Alew Arjventures., New Adventures technical placement Twice in 2024, once in April at Lanterns Studio and again In September at Royal Acad@my of Dance, .22 dancers were invited to tske part1n two four-day intensive that gave them an exclusive insight into theworklng practices and repertoire of New Adventures. In addltlon tothis, we ran ourfirst Swan School 2 with 14 dancers, an opportunity tailored towards young aspirlng dancetE between the ages of 16-18, who are still refining thelr crafL This opportunlty locus@s on enhancing their artistry while allowlng space for personal development, creativity and exploring the work of New Adventures. Identified through our ConseNatolre programme, attending shows and annual auditiDns, dancers are Invlted to Swan School because we are interested in their devèlopment and preparatlon for the industry. The dancers are given exclusive insight into the working practices of New Adventures and take part in panelled discussions and workshops with Invlted industry professionals. This residency is designed to broaden the dancers, industry knowledge and provide them with a range of skills to support them as they embatk on th@Ir artistic journeys. The intensive culminates in a sharfng to the senior members of New Adventures, artiStlc team. 36 previous Swan School alumnl have gone on to perform with the company in large-scale productions: '1 learnt so much andgained so much insight into not only the work New A(fventures creates but also the amazing environment anrl rehearsalprocess, which has made me sa exclted for the futurelj Swan School participant Mas In January 2025, we had our open access l-day Masterclass, which focused on Swan Lake and took place at Sadlevs We115. 29 partlcipants had the opportunity to experience a rehearsal day of a New Adventures company dancer. The daywas spentworking through CompanyClass,1earning repertoire and creative tasks and CLJlminated in watching the evenlng performance of the production. For the Swan Lake masterclass in January 2025 we received average ratings of 95% for 'lnsight' and 96% forArtistic Slulls'lrom 11 participants who tookpartin the surveysentusingArts Council England s Impact and Insight Toolkit. 100% of them said they experienced joy ancl wonder, and they described theirexperience with.the following words -.inspiring and fun. '1 had the n￿st amazingdaylearning fromYourex￿pt1Qnal¢ompanY members, who were so welcoming andproylded us with such a safe andinsightful space to woik in.. Swan lake Masterclass particlpant Page 14 NEW ADVENTURES CHARITY IA company Ilmited by guarants8} Professlonal Pro-class took place over a thre@4ay period on two owasions in 2024125 at Royal Academyof Dance in June 2024 and January 2025. A total of 316 dancers took part. Each three-hour session conslsted of technique class followed by explorlng repertoire from a New Adventures production or looking at the creatlve process and methodology of the work. Open sessions were for any dancers in training or graduates and the invited sessions were for selected dancers from con5ervatorie5 and Swan School to support thelr development and stayconnected. This Talent Development pmgramme received average ratings of 88% for 'lnsight' and 93% for 'Experirrienting' from 57 partlcipants that took part In the survey sent using Arts Council England's Impact and Insight Toolkit. 98% of them said they would particlpate agaln, 84% said they experienced joy, and they described their exbetience with the following three words - inspirin& fun and insightfvl. '1 hadan absolutelyamazing timel I learnt so much and fett so inspiredl Pro-class parti¢ipant In 2024125, N8w Adventur8s' Em@rging Artist programme was directed towards Emerging Prlncipal Support for Swan Lake: the Next Generatlon. The programme Supported dancers such a5 Leo, who has taken part In t￿0 Swan Schools in 2023 and madè his professional debut in Matthew Bourn8's Edward Scissorhands. In Swan Lake: The Next Generdtion, Leo took on a principal role for the first time. In recognition of the physical rigour and psychological resillence required for dancers to undertake the principal role of the prince in Swan Lake, Leo was supported through sports psycholo and media training sessions, as well as l-to-l coaching and characterisation sessions With Neil Westmoreland and Glenn Graham (Resident Artist), who firstly met Leo at Tring Part( School. "Havingseen Leo during his time at Tring to now, there has been a significantshift in him, not justas a dancerbut as a person too. His canficlence, workingboth as an ensemble memberand then seeing hlm applywhathe s learntas an ensemble memberln his prlncipalrole, $hows thathe's capable of delivering in both fields. Managing the pffssure ol leading the company in such an Iconic role can be a daunting prospect, but Leo has managed to deliver night after night. As always there is still room to grow, but that's something that never stops when delivering a physical and narratlve lead stoiy." Resident Artist "Rehearsals were tough, there is a lot to learn choreography-wise. Glenn really helped me to make it big enough for the whole audience to undefstandit and feel it with me.. Leonardo Mccorklndale AILOur_pr.￿.QuS Emerging Aitists havo Continued to perform with the company in Rom&0 and J.uliet, Edwards Scissorhands and Swan Lake in 2024125, Page 15 NEW ADVENTURES CHARITY (A company limited by guarants8) Sustaln Careers Through profe55ional guidance and bursaries, Spring Forward supports company members both on stsge and offstage to learn new skills, access tralning, personal development or spend tim9 in research and development for choreographic projects. Spring Forward offers bursarie5 UP to a maxlmum of £2,000 and In 2024 we had a totsl number of 13 successful applications. The support and tralnln8 are being undertaken in a variety of different areas of the sector including.. Coaching in Leadership A participatory performance project for older people In resldential care and the community- Research and Development City & Guild5 Sound Course Video Project Presentation of own Choreography Intimacy and Violent Scene Trainlng 4Polnte Teacher Certification Tutu Making Course City & Guilds Core Electrlcal Tralnlng Acting for Camera for Beginners Acting Fundamentsls Course Barberin8 Public Speaking Course Access bursary for a hearing aid 'The course was pwotal to mypersonal developmentin becoming an artistK leader for New Adventures. It enabled me togain confidence and to strengthen myown values along with promotlng the values and ethos of the company.'_ Spring FoKwaKd Recipient In October 2024, the Swan Lake company took part in a fitness and trainingweekthatwas scheduled prior to the rehearsal period. The week included morning company class, with afternoon sessions focusing on a curated training programme that included: Safeguardlng, Disability Equality, Unconscious Bias, Allyship & Anti-Racism, Trans and Non-Binary Allyship and Neurodiversity in the WDrkplace. Members of both companies benefitted from s@S5ions from a sports psychologist to assist with rehab after injuries and from both management and peer-to-peer support during long absences. We a150 offered tailored support to indlvidual dancers around strength and conditioning, Pilates programmes and counselling. Page 16 NEW ADVENTURES CHARITY {A company Ilmlted by guaranteo) vert Our Iotb year of the Overture programme consisted of a mix of resldential and online professional development opportunltles across 2024125 for Dance Artist and dance teachers from a variety of genres who have been worklng In community or education settings for fewer than five years. The 14 artists were chosen for their diverse range of work and experience within the community dance sector acros5 England. Facilitated by our Take Part Creatlve Director and an external facilitator, the cohort of Dance Artist5 participate in residential weekends at the New Adventures base In Famham MaltinBS, Surrey over an eiBht-month period, alongside digital sessions, and a vlsit to the current New Adventures production on tour. Each residential consists of practical workshops, dlscussions, and skills-sharing as well as Inspirational guest teachers from a variety of industry backgrounds. With workshops in areas such as personal development, coaching and networkin& New Adventures aim to provide the cohort with a range of skills to support them in reachingthe next level oftheir careers as community Dancé ArtlsL '1 learnt, absorbed and experienced so much yet I feel so open, like a clean blank slate, full of POS5ibilities, fpelffng excit8dandencourageiJ.' Overture participant Page 17 NEW ADVENTURES CHARITY (A company limited by guarantse) YOUNG PEOPLE, SCHOOLS. ANDCOMMUNITIES New Adventures contlnues to commit to delivering creatively ambitlous and Inclusive projects in our, signature dance-theatre style, working with a rang8 of partners such as schools and colleges, local authoritles, and cultuRI institutions. Young People n Lake Take Fli Our fiagshlp project around promoting wellbeing in young people through movement delivered 54 workshops across England. Our 6 Regional Dance Ambassadors- trained and recruited speclflcally to déliver these w(Irlfshops in their own communlty - vlslted 35 community groups, from refugees to young carers, teaching a total of 358.younE people aged 5-25 years, In addition, we have delivered 13 Take Flight Days these are more Intenslve days of movement creation and include a vlslt to see a performanGe of Swan Lake with a parent or carer to 291 partlclpants. We are working on what the legacy ofthls project mlght be with our Placernakingvenues, and an evaluative study on Swan Lake Take Flight led by Brunel University and Dr Louise Mansfield with PhD student Hannah Filer. In our own SUTvey, outotthe 31% of partlcipants that gave usfeedback, 98% of these participants said they would want to do more activities like thls, involving moving or dancing and 15% of participants had never visited their local theatre before and 40YoVlSit once, or less than once a year. 'Through my role as mentor and facilitator on the Take Flight project. I have seen how every step of this programn7e has been transformative to those involved. As mentor, I have watched the Reglonal Dance Ambassadors grow in confidence in blendlng thelr own practi￿ with the New Advertures approach, strengthen existlngrelatlonshlps wlthin theircommunlties, and built newones that willreach far beycnd the project. As facilitator, Ihave seen how the experiential appmach to the workshops has broken down barriers that can exist arcund accessing dance. Young people have connected through worklng with eath otherin new ways andcreativity has been ignitedthrough flnding their own unique ways of moving. Andjoy has been at the centre of it all., Swan Lake Take Flight Lead Dance Artist 'My daughter has come away so happy, she had an awful week at school freally struggling with her autism and fnendships and feels like she doesn't fit in), theatre is her release, and thls remlnded her she can do anything sheputs hetmlndtth Thankyou formakingherfeelsafe, ac￿pted andln her words 'partof a theatre family: ' Parent of Take Flight Day participant Placemaklng Venues Nèw Adventures continues to develop bespoke partnerships.with seven placemaking venues across England, tailoring our engagement to support each venue's strategic priorities. In Bradford, we focus on audience development for both schools and adult audiences, while in Canterbury our work centres on the Cygnet School partnership and artist development opportunities. During touring periods in Birmingham, we extend our reach into Leicesterto engageyoung people in that area. Our Newcastle partnership prioritises talent development and community programmes, and we are currently awaitins the results of Norwich Theatre's strateglc revlew to shape future collaboration. In Plymouth, Page 18 NEW ADVENTURES CHARITY (A company Ilmlted by guaranteo) we concentrate on youth dance Inltiatlves, and in Southampton our schools programme includes extensive youth engagement and technlcal workshops. Venues collal)orated on creative response pleces for Swan Lake, Includlng performances by Dance United Yorkshire in Bradford and a curtain raiser by Cygnets in Canterbury, alongslde youth group presentations in Newcastle and Plymouth. Southampton hosted a Technlcal Taster workshop to introduce young people to backstage careers. We wlll continue to build on the legacy of The Red Shoes through the'Sn Our Shoes, programme delivered across partnervenues. B. Schools Worksho "tal Resourc We have continued to run successful schoo15' tours, thi5 year around Edward Scissorhands and Swan Lake, with 1,282 attendances across 49 sessions with 29 schools. At Theatre Royal Plymouth, we delivered a Careers Talk to 30 chlldren with a varled panel of speakers f rom across the company. Partner schools Included.. Marine Academy Plymouth, Catton Grove Primary Norwich ISEN), Newcastle College, Oasis Lords Hill. School Southampton, West Bromwich Collegiate Academy, Cornrnunity Colleg8 Leicester, and 23 others. We have continued to produce a bespoke Digital Resource for all our productions. Demystifying how we create movement material and delving into our repertolre, the resource pa.cks are full of exercises and actlvitles adapted for a Primary School level, GCSE, A Level & BTEC student5 and those with a general level of dance experience. During 2024/25, 1282 people took partin 49 Schools sesslons. On average, participants on the Swan Lake Schoots Tour rated the programme 90% for 'Enjoyment', 78% for 'lmaglnatlon'and 79% lor'Experimenting'. This was in response to the post-projectsurveysent usingArts Council England's Impact and Inslght Toolkit. 'Myhighlight was letting myself learn and have fun instead ofgiving up. Schools Workshop participant 'What a wonderful dayl The day was really wellstructured. It was completely inclusive andallages and abilities were able to access. Daisy and Paul were welcomingand lun from the start andallstudents felt at ease andlearntandachieved, in some cases, beyond their capabillties. S¢h¢)ol Teacher C. Communltles In collaboratlon wtth Farnham Maltlngs: Next Adventures We continued to deliver our regular monthly dance session for over 55s, hosting monthly workshops in Farnham. In an Inclusive and encouraglng environment, the participants learn repertoire and are led through creative and improvisatlonal tasks. The sessions are led by Dance Artists Emily Piercy. Page19 NEW ADVENTURES CHARITY (A company Ilmlted by guarantgQ '1 was amazed to discover the opportunityto work with aprofessionalcompanyof this calibre in mylocal town. I look forward to It every month and leave feeling exhllarated every ses5ion,' Next Adventures participant Durlng 2024￿5, 213p8ople tookpait In 22 NextAdventure sessions. Dourstep Duetswas orlglnallycreated in 2021 by New Adventuresand Farnham MaltinEs asa response to social Isolatlon. The aim of the project is to bring dance directly into the community, providing joy, escaplsm and connection and make dance more accessible to communities across the Southeast. In 2024, we created a new short plece for our tourth Doorst8p Duets tour: Hum, created by choreographer and movement director Anjali Mehra with original tnusic by Luke Brady. The creation of this piec8 was overseen by New Adventures Assoclate Artlstlc Dlrector and New Adventures Take Part Creative Director. In association wlth Farnham Maltings, we worked wlth 13 partner organisations, and 2 performances were BSL interpreted and l offered Audio Descrlptlon. The production gave free opportunities for people to enjoy world-class performance in their local neighbouthood, on'their street, in local parks, and through community-based organlsations. Locations included: arts centres,, artgallery, schools, youth clubs, day centres, communitycentres, theatres, care homes, community garden, hospices, public parks, libraries, town centres, shopping centres, cafes, public squares. The project was evaluated with audiences using a feedback post-box (post-show In venue) 241 enjoy&d, I did not enjoy, 135 felt a sen* of connectlon. In addition, 80 cornpleted feedback postcards returned with comments such as 'A moving experlence that touched my soul remlndlng me of the healing gift of connection. Just beautiful! Thank you from the bottom of my heart. 'A wonderful experienc& Very moving and beautiful. I was delighted to watch you perform, I saw childien's faces lit up with enthusiasm and adults IHng very much touchedl You have a grft for biinging the communty togetherll Doorstep Duets audience member Durlng 2024￿5, there were 75 Doorstep Duets performances, seen by4,311 people in 61 locations. LGBT + Swan Lake Res onse Pl In partnership with Famham Maltings and Surrey Libraries, we worked with nlne LGB TQ+ adult particlpants for two weeks to create a response piec& to the themes in Swan Lake and how they relate to the Ilved experience of the participants. The project culminated in.￿0 public perfomiances at Farnham Maltings and Farnham Library seen by 118 people. 'It s very rare to be in a placé where you're held that in mind and that declsions are made that aren't easy. Butyou've done it because you know it will make it easier for some of us to joln in. That's realfy massive. You've given us all wings to fty., LGBTQ+ Swan Lake Response Piece participant 'Incredlbty moving in ways it's hard to descrlbe but connected to the reality of the n3t(Jral world being lost3ndl couldfeel this so effectivelycommunicatsdby the cast... Inspiring ar￿beaUtIfUl￿erf0rmanee., LGBTQ+ Swan Lake Response Piece audience member Pag8 20 NEW ADVENTURES CHARITY {A company limited by guarantse) Organisational Resilience Evaluation Evaluation is key to understsnding and assesslng our impact and making adju5tment5 in our practice which will lead to us b8tt@r delivering our strateglc alms. We have worked embed data into everything we do and to review our evaluation methods, creating a robust CRM system and data dashboard to glve us the raw data we'need to measure impact. Evaluation is baked, into our workwith young people, allowlng us to hear thelr voice in our planning. In 2024125, we have also partnered with academic institutions to provide robust evaluative studies into our practice, including Canterbury Chrlstchurch University's study of Cygnet School and Brunel University's evaluation Df Swan Lake Take Flight. Thls rlgorous approach to continual improvement has proved effective and will be maintained. Our working groups are now well-established and provide an excellent means of revlewlng our worklng practice and policies. We have quarterly meetings for EDIA, Data & Dashboard, Digital and Environmental working groups and they are stsnding items at our Board meeting& We also have excellent trustee Input In thls area, with a trustee chairing each group and brlnglng thelr unique expertise to the groups. Development and Fundralslng New Adventures have been nurturinga small but growing Development team.overth8 last few y@ars. We now have a team of three and have established a Development Sub-committee which is chalred by one of our trustees 2nd is populated by members of the team, tlilStees and external members who generously champion our work with their networks. Their work supports the Drganisation's charitable actlvities Includlng supporting the running costs.of the charity's staff and the programme of projects underthe Talent Development Schools & Communities and Partnership strand5. Together with the other sources of income generation, it also works to support and enhance the SU5tainability of the organisation. In addition to our Arts Council England's National Portfolio granL 48°A of our fundraising activity is through Trusts and Foundatlons, 38% through Individual Givin& and 14% through Corporates. 2024125 saw us ralse £408, 146 in a mixture of restricted and un-restricted funding. Fundèrs During 2024125, ourwork was made possible by the followlngfunders: Arts Council England, Dorfman Foundation, Backstage Trust, Noel Coward Foundation, Weatherall Foundation, The Head Family, Theatre Development Trust, Mackint05h Foundation, Garfield Weston Foundation, Lynne_& La_nd Fo_UD.d?.tion, B.ernar.d_S.llnley F_oundation and.The Garriok Qt]aritabfr.TrllsL_- ..- ..-.....- -. - Our Corporate partnerswere: Edwardian Hotels London, Fortnum & Mason Our Corporate clients were.. Buccellati London, Wedlake Bell, Baker McKenxle, Cltibank, Lee & Thompson and Weil. Page 21 NEW ADVENTURES CHARITY (A company Ilmlted by guarantsel FUNDRAISING COMPLIANCE STATEMENT The charity seeks to comply wlth best practl¢e on fundralsing and is compllant wlth the Code of Fundraising Practice of the Fund￿lSing Regulator. All fundraising actlvitles are monitored and reviewed quarterly by the Development Subcommlttee. New Adventures values the support we receive from a wide range of sources. We are committed to transparency with all donors, provldlng regular updates on how their contrlbutlons enable our charitable activities and th& impact of thelr support. The Charity does not seek to generate funds fromthe public at large, apart from through its sUPPOrter programme via our website and through direct engagementwith trusts, foundations, and corporate partners. The Charity does not use professional fundraisers. Thè Fxecutive Leadership Team refers any concems regardingthe acceptance ofglfts or sponsorships to the Trustees, who make all final decisions. Truste@s are requlred to declare any potential conflicts of Interest relating to funding or partnerships. If there is an issue of concern regarding the acceptance of a glft or sponsorship, New AdverTrture's Executlve Leadership Team will contsct the Trustees. All final decisions will be governed by the Trustees. It Is the duty of the Twstees to adv15e of any potential conflicts of interest with regards to funding or partnerships. Enrfironmental Responslblllty New Adventures considers environm8ntal sustainability a major opportunity to demonstrate good governance, forward-thinklng Sector leadership and organisational resilience. As investors in the next generation, we are dedlcated to ensuring our activities are commensurate with a sustainable future. Reducing envlronmental impact requires a collaborative effort, including fumders, admlnistrative teams, receiving venues, designers, creatives, logistics coordlnators and service providers. We are proud to be working alongside Theatre Green Book, a collectlve Initiative of theatre makers across the world to ensure our work is as sustsinable as possible. By following their guidance and participatlng In their networks we can continually grow our sustainabllity efforts and share our successes and challenges with others in the industry who are also working towards the same goal, The Green Adventures Working Group, which includes a trustee representative, along wlth our Operations Manager, Environmental Sustainability Manager and Green Adventures Arnbassadors, ensure New Adventures Is responsible for its environmental impacL The Environmental Policy and Actlon Plan for 2024-25 wa5 rolled out across all operations. Our Environmental Sustainability Manager Is also a dancer and was on tour with the production, maintaining connections with partner venues on sustainabllity Initiatives, promoting.the Green Rider, and encouraging envlronmentally resp_onsihle practices both on and off stage in line with The Theatre Green book. Two Green Representatives were appointed-to the maln production to ensure environmental considerations are embedded throughout th& production process. We also continued to providè advice and guidante to UK-based arts organisations sharing learning and experience as part of our sector support roFe in sustainable touring. The,Environmental Sustainability Manager spoke at the Theatre Green Book Dance webinarand maintains ongoing connections with organisations including the Dance Association Network and Theatre Green Book communlty. Page 22 NEW ADVENTURES CHARITY (A company Ilmlted by guarantee) Our People Our people are what makes NewAdventures. We are unique amongst the majordance companies in that we don't have a permanent performing company, instead relylng on a team of regular freelancers with a relatively small administrative team facilitsting our work. At the close of 2024-25, the Charlty employed 18 staff members, 28 freelance contractors, 41 dancers and 21 backstage crew. A total of 113 freelancers were supported throughout the year. In 2024-25 we spent over£237,000 on freelancers and are a major employer of freelance artists and technicians across a range of disciplines. We are committed to providing them with exciting, hlgh quality uvork opportunities. W8 place huge value on our Staff and freelancers and recognise the importance of investin8 in them for the future of the dance ecology as well a5 for our own organisational resilience. We are committed to ensuring that NewAdventures is a welcoming and inclusive organisatlon, andwe work hard to make sure the diversity of the workforce: on and off stage, is as reflectlve of the diversity of contemporary British soclety as possible. This 15 driven from the very top of the organisation, by Matthew Bourne, our Senior Leadership Team and Trustees, and extend5 through all members of staff, freelancer dancers, technicians and dance artists. We now have dedicated roles for Access and Inclusion in the core team and work wlth partner organisations to increase our skill-base. We are committed to doing more by listening, learning and deliverlng on making the changes we want to see In the world we live and work in. New Adventures ¢ontSnues to create an environment provlding èquallty of opportunity and support for everyone to do their best work and r@ach their full potential. During 2024-25, the Chantyworked with sector support partnarsto advance these aims, Including Creativ@ Access, Global Butterflies, TIRED Movement, Ac¢ess All Areas, Ramps on the Moon, George Perrin Coaching, Alleyne&, Leadersmlthlng LLP, Ithalia Johnson, Isabel Mortlmer, Applaus& for Thought, Carrle Taylor Johnson, Crystal Nicolls, Lily Norton, Talking Theatre, Tourettes Hero, Sound Induction Systems Ltd and Go Live Projects. Freelancers, staff and Trustees are activelyengaged In Equity, Diversity, Inclusion and Access work, and anyone joining New Adventures is 6xpected to support and promote the EDIA policy. As part of the EDIA commitment, mandattjry trainlng in Trans Allyship, Unconscious Bias, Disability Awareness and Neurodiversity is delivered to everyone onjoining the company or starting a new contracL All staff and freelancers working for New Adventurps undertake this training on a regular basis alongside compulsory Safeguarding training. The recruitment and annual auditions process Includes regu.lar non-binary audition sessions with improved inclusivity and excellent *eedback. In 2024125, the Charity provided opportunlties for people of all ages, backgrounds and abilities to participate in hlgh quality dance experiences, working to increase workforce diversity both on Stage and off stsge to reflect the diverslty of contemporary British society. Our key initiatives included subsidised or free places offered on all talent development projects, with ongoing review of subsidy levels to ensure accessibility. The Overture programme was also fully subsidised for participants, wlth additlonal support provided to meet caring or acce55 needs. The Charity collaborated with Conservatoires, Centre for Advanced Tralning scheme5 and the wlder dance community.to support emerging diverse tslent and break down barrieTS that may prevent careers In dance. The Charity contlnued to provide tralnlng and'professional development opportunities for staff, dancers and the wider New Adventures freelance workforce. Mental health and wellbeing support is provided through accpss to a counselling service, sports psychologlst service, and an Employee Assistance Programnle offerlng 2417 confidential support and free coun5elling. Page 23 NEW ADVENTURE8 CHARITY (A Company Ilmlted by guarantee) The Charity places signlficant value on its Staff and freelancers, recognising the importance of professional development. The training budget supports first aid and safeguarding training alongslde professional and personal development opportunities including coachlng, fundratsing, di8ital and marketing skllls. New Adventures is a signlficant employer of artists and arts professionals. The CharSty Is Committed to paying In line with or exceeding recognised codes of practice and union agreements. No indlwldual Is asked to work without payment, and any training undertaken is either paid or forms part of an education or professional development programme. Roles and responslbilltles requested from freelancers beyond their contracted scope are recognised and remunerated accordin¥y. The Charity supports flexible working ond job shares where appropriate and continues to develop and review policies In this area. Board Composltlon The 2024125 Board is made up of 11 Trustess: 27Y> global majority trustees, 73Yo female trustees Including the Chair, and 27% LGBTQIA+ trustees. COMPANY STRUCTURE New Adventure5 Charity is the parent company and wholly owned trading subsidiaries are set up for all our productions. Creatives, dancers, crew, and tour management are'engaged on fixed term contracts for each show. We also have a subsidiary for New Adventures, partnèrs includlnE sponsor5 and film istrtbution. The financlal results of the trading subsidiaries are consolidated Into those of the charity in these statements. The subsldiarycompanies forth8year 2024125 were- New Adventures Red Shoes Limited New Adventures Bell Limited (incorporated 13 November20241 N A Swans Limited New Adventures Partnerships Limited New Adventures Verona Limited New Adventures Scissors Limited Pag8 24 NEW ADVENTURES CHARiff (A company Iimlted by guarantee) FINANCIAL OVERVIEW New Adventures is a registered charity. The subsidiaries and charity received a combined Income of £13,766,455 in the flnancial year20241251202£k. £14,777,089). Of this, £1,765,984 1310 (2D24.. £1,515,031 IOY.) was grant and donation income from Arts Councll England and other funders and'supporters. £271,693 2% 12024.. £202,627 1%) was income from charitable activities. £10,591,575 7710 (2024: £11,747,407 80%) was earned income, including from our productions of Romeo and Juliet, Edward Scissorhands and Swan Lake. £58,096 12024.. £79,839 1°Al was bank interest earned. £1,079,107 8%12024: £1,232,185 8%) was received through the Theatre Tax Relief scheme. Ofthls Income, £10,479,939 82°A12024: £12,289,93687%1 was spent on developing, producing, and touring our productioni £1,746,134 14%12024: £1,136,398 8°A) was spent on charitable activities including Talent Development, Schools and Young People and Communities projects and REEL Adventures projects, £134,839 IY. (2024: £281,356 2%) was spent on fundraislng costs, with the remaining £392,129 3%12024.. £385,878 3%) spent on support costs including access provislon for our activity. At year-end the Charity held total consolidated funds of £5,417,30112024: £4,403,887) comprfsing restricted funds of £103,393 (2024: £124,573), deslgnated funds of £4,645,50012024- £3,737,500) and unrestricted general funds of £668,90812024: £541,814). We have five restricted reserves at the end of 2024-25, to be used towards Year Three and Year Four of Cygnet School, the Wigs Hair and Makeup Placement, the Swan Lake Take Flight projett, the Doorstep Duets Inltiative and the Schools Workshop Tour. We have designated funds from our resetves for our forthcoming productions and artistic work, a designated fund for Capital, a designated Digital fund for our ambltlons with our futu￿ REEL Adventures digital work and assoclated filming costs, a Resilience and Risk ReseNe to safeguard the company against any unforeseen risks or risk we are mltlgating on our Risk Register, and an Offstage Projects reserve. The operational reseNe of the charity is set at an agreed level of £668,908, Our Arts Council England annual, NPO grant of È1,317,810 enabled us to achieve 2,210,573 engagements nationally and internationally in 2024125 resulting in a per engagement subsidy of just £0.60 or 1.68 people per £1 of subsidy spent. RESERVES POLICY STATEMENT It is the policy of the Charlty that unrestricted funds whlch have not been designated for a specific use should be maintained at a level equivalent to 6-months recurring core expenditure. The Trustees conslder that reseNes at thls level wlll ensure that in th& ovent of a signiflcant drop In funding,they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. This General Fund is retained at the agreed £500,000 minimum but is calculated more accurately on a quarterly basis. It is also forecast to be maintained through current financial plans to 202& Pag8 25 N.EW ADVENTURE8 CHARITY (A company Ilmlted by guarantee) At year end the Charlty held Iree reserves (calculated as unrestrlcted funds less fixed assets and any capltal and grant commltment51 totaling £660,607, thereby meeting the reserves policy. In addition, the charity holds a balance of Designated Funds to support investment in future strategic development and proj'ects. These funds are currently belng used to support the company in its next phase of development at a level that the twstees perceive as the n8cessary and realistic scale of investment required to achieve our future activities and plans over a 12-24-month perlod. The use of Designated Funds to support the charitywill be carefully monitored by the Trustees to ensure ongoing viabillty informs all decision making. FUTURE DEVELOPMENTS As an Arts Council Natlonal .Portfollo organisation, we are continuing to look to the future whilst investing in the delivery of our Mission and Goals that Include: l. retaining our position as Fritain's most prolific touring dance company continulng to widen access to dance for audiences 3. Inve5tlng in the future talent of the dance ecology 4. continuing to deepen our bespoke Placemaking relationships around the UK 5. continuing to strengthen our organlsational reslllence On stage, we have 59 week5 oftourlng to large and mid-scale Venues planned In 2025126. The start of the year will see Swan Lake continue its UK tour and then begin its intemational tour into the autumn wlth dates in China and Europe. The Mldnight Bell returns for a UK tour in May 2025. Inspired by the work of the great English novelist Patrick Hamilton (Twenty Thousand Streets Under the Sky, Hangover Square), The Midnight Bell tskes u5 back to 1930s London, where ordinarypeople efflerge from cheap boardinghouses nightty to pourout theirpassions, hopes and dreams in the pubs and fog-boundstreets of Soho and Fitzrovia. The Red Shoes returns for a UK tour In Noveiiiber 202& A timeless fairytale andAcademyA ward- winning movie, The Red Shoes has captivated audiences and inspiredgenerations of dancers with its powerful tale of obsession, possession and one girl's dream to be the greatest dancer in the world. Victoiia Page Ilves to dance but herambitions become a fierce struggle between the two n￿n who inspire her passion. Matthew Bourne's magical double OlivierAward-winning production of the legendary Powell ahd Pressburger film is set to a score orchestrated by Terry Davies, featuring the mesmerizing music of golden-age Hollywood composer Bernard Herrmann, with sumptuous designs by Le2 Brotherston (set and costurnesl, Paule Constable Ilighting) and Paul Groothuis (soundl and was last revived in 2019 before being halted bythe_pandemic in March 2020. We will continue to strive to make our productions accessible to all through our access provision, includingaudio described and BSL-interpreted post show events, touch tours, digital resources and our annual Sensory Adapted Performance. We will work with extemal agencies to focus on increasing our visibility and conversion among existing or easily accessible audience segments In each of our Placemaking venues. Page 26 NEW ADVENTURES CHARITY (A company Ilmlted by guarantse On screen, w@ will malntain cur digital reach through broadcasts, Screenin￿, and onllne streaming, as well as explorlng other opportunities for digltal exploitation and access. Alongside our main productlons, we will contlnue to> Deepen our Placemaklng work with our key venue partners acros5 England, building on the legacy of Swan Lake Take Flight and ¥vorking In partnership wlth venues and local organi5ations to deliver against our shared strateglc aims through our multl-strand bespoke actlvlty, including our programme based around The Redshoes tout, In Our Shoes. Maintain our delivery of community-based actlvity to the Southeast region, through strengthening our ties with our home venu6. Farnham Maltings and building on the contlnued success of Doorstep Duets, which brings world-cla55 live performance to audiences who would not othe￿iSe be able to access dance. We wlll also continue our work with the LGBTQ+ community in thls region, a5 well as our regular class for over 55s, Next Adventures. Maintsin our commltment to the talent development of dancers, both pre-professlonal and vocational, through our extensive programmes that Including Cygnet and Swan Schools, as well a5 our investment in our people, in sustaining freelance careers and In future sector leadership, through our Emerging Leadershipi Placements and the flagship Overture programmes. Invest in our organlsatlonal reslllence through systemisation of our evaluation and impact measurement, continuing our partnership with external academic institutions such as Brunel and Canterbury Chrlstchurch universities and maintaining our excellent quarterly worf(ing groups to ensure regular review of our working pract'ice and policies. We are now finalislng our business strategy for the period 2026-30, which includes the rnilestone year of 2027 for the organlsation. This marks 40 years of genre,-defying, WOrld￿lasS work from Matthew Bourne and offers us an opportunity to look back at the herltage that he has created since 1987 and to celebrate hls enormous legacy. It also offers us the chance to look forward to the next 40 years of the organisation taking our sector-leadinLorganisation into a future which sees it thrivlng and vltsl in the dance and touring ecology. We continue to be excited by the wealth of cultural opportunities offered to the public by the charity through the framework set out in Let's Create, Arts Council England's 10- year strategy and are energised and ready to realise our strntegic aims and ambitions Into the future of this wonderlul organisation. Page 27 NEW ADVENTURES CHARITY (A company limitod by guarantsa) DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Trustees at the tlme when thlsTmstees' report is approved have confirmed that.. So far as that Trustees is aware, th8re is no relevant audit information of whlch the charitable group's auditor5 are unaware, and That Trustees has taken all the steps that ought to have been taken as a Trustee in ord@r to be aware of any information needed .by the charltable group's auditors in connection with preparing their report.and to estsblish that the charitable group's auditors are aware of that information, The auditors, Nyman Libson Paul LLP, have Indlcated their willingness to contlnue in office. The designated Trustees will propose a motion reappointing the auditots at a meetlng of the Tnjstees. Page 28 NEW ADVENTURES CHARITY IA company limtted by guarantso) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Approved by order of the members ofthe board of Trustees and signed on their behalf by. B A Emmanus (Chalr of Trustees) Page 29 NEW ADVENTURES CHARITY (A company limlted by guarantee) REFERENCE AND ADPdllNISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 Trustees .B A Emmanus, Chalr J M Brunjes, Director L J Caldow, Director (appointed 2 December 2024) J V Cordeiro, Director (appointed 2 December 2024) S M Harman, Director (appointed 2 December 2024) P H Llndsay, Director (appointed 2 De￿mber 2024) H Morri8. Director V Ozoagu. Dlre¢tor (appointed 2 D8cemb8r 2024) N Stolz, Director (appointed 2 December 2024) J A A Ward. Director P J M Wllllams, Director Company reglstered number 06548321 Charity registsred number 1125342 R8gl8tarad offlce Famham Mallings Brldge Square Famham GU9 7QR Independent audltors Nyman Libson Paul LLP Chart6r6d Accountants statutory Auditors 124 Finchley Road London NW3 5JS Page 30 NEW ADVENTURES CHARITY (A Gompany Ilmlted by guarantea) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEW ADVENTURES CHARITY Opinion We have audited the financial statements of New Adventures Charity (the 'parent chaiitable company) and ils subsidiaiies {th8 'group') for th8 y8ar end8d 31 'March 2025 which comprise the consolidated statement of financial a￿1vitIeS, Ihe consolldated balance sheet, Ihe charity balanc8 sheel, th8 consolidated statement of cash flows and the related notes, induding a summary of significant accounting policles. The financial reporting framework that has been applled In thelr preparation is applicab18 law and Unit@d Kingdom Accounting Standards, including Financial Reporting St8ndard 102 'The Financial Reportlng Stsndard applicable in the UK and Republic of Ir81and' (Uniled Kingdom G8n8rally Acceptsd Accounting PractiC8}. In our opinion the financial statements.. give a true and fair rfiew of the state ofthe group's and ofthe parent charltable company's affairs as at 31 March 2025 and of th8 group's incoming r8sourc8s and application of resources, includlng fts Income and 8xpenditure for the year then ended., have been properly prepared in accordance with Unitsd Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companles Aot 2006. Basls for oplnlon We conducted our audit in accordanc8 With Intemational Stsndard8 on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibllltles for the audlt of the financial Statements section of our report. We are indep8ndent of the group in accordance with the ethical requlrements that are relevant to our audit of the financial slatements In the United Kingdom. including the Financial Reporting CouncÉl's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audll evidence we hav8 obtained is sufficient and appropriate to provide a basis far our opinion, Conclusions relatlng to golng concem In auditing the financlal statements, we have concluded that the Trustees. us8 of the going concern basis of a￿)Unting in the preparation of the financial statements is appropriate" Based on the work we have perfomed, we have not identified any material uncertainties relatlng to events or conditions that. individually or collectively, may cast significant doubt on the gnjup's or the parent charitable company's ability to conlinue as a going con￿rn for a period of at least ￿e1ve months from when thè financlal stalemenl8 are authortsed for issue. Our responsibilities and the responsibililies of the Trustees with respect to going concern are described in the relevant sèctions of this report. Other information The other information comprises the information induded in the annual report other than thè financial statements and our auditors, report thereon. The Tru8t8es are responsible for Ihe other information contained within the annual report. Our opinion on the financial statements does not Cover the olher information and, .except to the ext8nt olherwise 8xplicitly stated in our report. we do not express any form of assurance concEusion thereon. Our responslbillty is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained In the course of the audlt, or othenmise appears to be materially misstated. If we identify such materlal inGon8iStencies or Page 31 NEW ADVENTURES CHARITY (A company limited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NEW ADVENTURES CHARITY {CONTINUED) apparent material misstatements, we are required to d&tsrmine whether this gives rise to a mat8rial mi8Statement in the financial stat8m8nts themselves. If, based on Ihe work we have performed, we concluda that there Is a materlal mlsstatsment of this other infonnation, we are required to report that fact. We have nothlng to report In th1$ r6gard. Opinion on other mattars pre8crlbed by th8 Compan168 Act 2006 In our opinlon, based on Ihe work undertaken in the cours@ of th8 audit: Ihe infomiation given in the Trustees, Report Including the Strategic Report ft)r the financial year for which Ihe financlal statements are prepared is conslstent with the financial stalem&nt8. the Trustee8' Report and the Slrategic F18POrt have been pr8p8red in accordan￿ wilh applicable legal requiremerjts. Mattors on whlch w8 are required to raport by exception In the, light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatem8nts in Ihe Trustees, Report including th8 Strategic Report. W8 have nothing to report in respect of the followlng. matters in relation to which Companies Act 2008 requlres us to report to you if, in our opinion, the parent charitable company has not kept adequate and sufficient accounting records. or relums adequale for our audit have not been received from branches not Vislted by us" or the parent charitable company fsnancial ststements are not in agr8em8nt with the accounting r8cord8.and returns., or certain di8dosure8 of Trustees, remuneration specified by law are not mad8', or we hav8 not r8C8iV8d all the information and explanations we require for our audift. Responsibilities of trustees As explained more fully In the trust&8s' responsibilities statement. the Trustees (who are also the directors of Ihe charitable Company for the purposes of company law) are responsible fcr the preparation of the financlal statements and for being satisfied that they give a true and fair view, and for such internal control as the Trust88s determine is necessary to enable the preparation of financial statements that ara free from material misstatement, whether due to fraud or error, In preparing tii@ financial statements, th& Twstees are responsible for assessing the group's and the parent charitable company's abillty to continue as a going concern, di8closing, as applicable, matters related to going concern and using the going con￿rn basis of accounting unless the Trustees either intsnd to liquidate the group or the parent tharitable Company or to cease operation5, or have no realistic altemative but to do 80. Pag8 32 NEW ADVENTURES CHARITY {A company Ilmlted by guaranteo) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEW ADVENTURES CHARITY (CONTINUED) Auditors, re8ponslbllltles for the aiidlt of the finan¢lal statements Our objectives are to obtain reasonable assurance about wheth6r tha financlal statements a8 a whol8 are free from mat8rial misstatemenl, whether due lo fraud or error. and to Issue an audit(yrs' report that Includes our opinion. Reasonable assuran￿ is a high level of assurance, but 18 not a guarante8 that an audit conducted in accordance with ISA8 (UK) will always detect a materfal misstatement when it exists. Misstatements can arise from fraud or error and are consid8r8d matsrial If, individually or in th8 aggr8gate, they could reasonably be expected to influence the economic dedslons of users taken on the basis of these financial stst8m8nts. Irregularities, indudlng fraud, are instances of non-complianc8 with laws and regulation8. We d8sign procedures in line with our r85ponsibiliti8S, Outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to whl¢h our .proc8dures ar8 capable of deteciing irr8gularitl8S, including fraud is detailed below: Wa gained an understanding of the legal and regulatory framework applicable to the charity and the group and the industry in which it OP8ral8s and consid8red the risk of acts by the charity and the group that were contrary to applicable laws and regulatlons, Includlng fraud. We designed audit procedures to respond lo tha rl8k, recognising Ihat th8 risk of not d8t8cling a material misstatem8nt duè to fraud is higher than the risk of not detecting one resultlng from error, as fraud may involve dellberate con￿alment ty, for examp18, forgery or intèntional misrepresentations, or thrDLJgh collusion. We focu888d on laws and r8gulations which could give rise to a. material mlsstatement in the finanGÉal statemenls, Including. but not Ilmlted to, the Companies Act 2006, UK tax I￿ls18tiOn, Charit188 Act and Charity Commission guldelines. Our tests included agreeing the financial statement dlsclosures to underlying supporting documentstion and enquiri8s with manag8m8nt. Th6re are inherent limitations in Ihe audit procadures described above and, the rther removed non-complian￿ with laws and regulations is from the events and transactions reflected in th& financial statements, the less likely we would become awar6 of it. We did not identify any key audit matters relatlng to irregularities, including fraud. As in all our audits, we also address8d the risk of management override of internal controls, induding testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud We also communicated relevant Identlfied laws and regulations and potential fraud risks to all engagèment team m8mbers an(1 remained alert to any indications of fraud or noncompliance with laws arid regulations throughoLrt the audit. A further description of our respon8ibilities for the audit of ,Ihe financial statements is IoGated on the Flnandal Reporting Council's website at: IAww.frc.o .uklauditorsr onsibili ies. Thls d8SCriPtion forms part of our auditors, report. Page 33 NEW ADVENTURES CHARITY (A company limitsd by guaranteo INDEPENDENT AUDITORS. REPORT TO THE MEMBER8 OF NEW ADVENTURES CHARITY (CONTINUED) U80 of our r8port Thls report18 made Solely to the charitable company's m8mbars, a8 a body, In accordance with Chapt8r 3 of Part 16 of the Compani88 Act 2006. Our audit work has been undertaken so that we might state to tha charitable companV8 member5 those matters we are required to state to them in an auditors, report and for no 0th8r purpose. To the fu118St extent permitted by law, we do not accept or assume responsibility to anyone othar than the chatitable company and its members, as a body, for our audll worf(, for this r8POrt, or for the opinions we hava fomied. Andrew Thoma8 (80nior statutory audltor) for and on behalf of Nyman Llb80n Paul LLP Chartered Accountants St8tulory Audltors 124 Finchley Road London NW3 54S Date.. 2 December 2025 Page 34 NEW ADVENTURES CHARITY IA company Ilmlted by guarant89) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds. 2025 Restricted funds 202S Designated funds 2025 Total funds 2025 Total funds 2Q24 Note . Incoma from: Donation8 Charitable activities Trading activities Investmen18 1,408,959 271,693 10,591,,575 58,096 1,079,107 357,025 1,765,984 271,693 10,591,575 58,096 1,079,107 1,515,031 202,627 11,747,407 79,839 1,232,185 0th8r incom8 Total income and endowments 13,409,430 357,025 13,766,455 14,777.089 Expendlture on: Raising funds: Voluntary incom8 Troding activities Charltable activities.. other charitable activilies 134,839 10.479,939 134,839 10,479,939 281,356 12,289,936 1,769,058 369,205 2.138,263 1,522,276 Total expendlture 12,351,711 378,205 23.125 12.753,041 14,093,568 Net incomel {expenditsirel Transf8rs b8￿￿en nds 1,057,719 (21.180) {23,125) 1.013,414 683,521 19 (930,625) 930,625 Not movement In funds 127,094 (21.180) 907,500 1,013,414 683,521 Reconciliation of Total funds brought 20 341,8T4 -124.573 3,737,-500 - 4-,403,887 3,720,388 Net movement In funds 20 127,094 (21,180) 907,500 1.013,414 683,521 Total funds carriod foNard 668,908 103,393 4,645,000 5,417,301 4,403,887 Page 35 NEW ADVENTURES CHARITY (A company Ilmlted by guarant881 REGISTERED NUMBER: 06648321 CONSOLIDATED BALANCE SHEET AS AT 31 MAR¢H 2026 2025 2024 Note Flxerl assots Tangible assets 14 8,301 3,884 Curr8nt assets Production costs Debtors Cash at bank and in hand 16 17 178,585 4,015,642 6,479,422 2,845.439 8,386,023 10,671,649 9,231.462 Cr8ditor8'. amounts falling due wlthln one year 18 (5,262,649) {4,831,459) Net current assets 5,409,000 4,400.003 Totsl net assets 5,417,301 4,403.887 Charlty funds Deslgnatsd funds Restrtcted funds Unreslricted funds 19 4,645,000 3,737.500 1S 19 103,393 668,908 124.573 541,814 Total fvnds 5,417,301 4,403,887 The Trustees acknowledge their responslbililies for ¢omplying with the ￿qUirements of the Act with respect to accounting r8cord$ and preparation of financial statements. The financial stat8ment$ were approved and authorised for issue by the Trust8es and slgned on Iheir behalf by.. Brenda Emmanus OBE (Chair of Trustees) Date.. The notes on pages 39 to 83 fomi part of these financial statements. Page 38 NEW ADVENTURES CHARITY (A company limlted by guarantee) REGISTERED NUMBER: 06548321 CHARITY BALANCE SHEET AS AT 31 MARCH 2026 2025 2024 Nole Flxed as80ts Tangible assets Investments 14 8,301 3,884 15 8,307 3,890 Current assets Debtors Ca8h at bank 17 1,878,262 3,769,201 1,500,961 3,190,3Q6 5,847,463 4,691,267 Creditors: amounts falling due Wlthin one year 18 (238,476) (229,713) Nat current a88ets 5,408,987 4,461,554 Total net assats 5,417,294 4,465,444 Charity funds D8signated funds R88tricted funds Unrestricted funds 4,645,000 3,737.500 103.393 668.901 124.573 603,371 Total funds 5,417,294 4,465,¢144 Th& charity's net mcvernent in funds for the year was £951,85012024 - £745,085). Th8 Trustee8 acknowledge their responsibilities for complying wllh the requirements of the Ad with resped to ac¢ountlng records and preparation of financial stat8ments. Th8finanual stat8m&nts were approved and authorised for issue by the Trustees and signed on Ihelr behalf by., Brenda Emmanus OBE {Chalr of Trust88s) Date: The notes on pages 39 to 63 form part of these financial statémènis. Page 37 NEW ADVENTURES CHARITY (A company limitsd by guarante8) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THÉ YEAR ENDED 31 MARCH 2025 2025 2024 Note . Cash flows from operatlng actlvltl88 Nèt cash used in op6fdting actlvltias 22 100,387 1,639,663 Ca8h flow8 from investing actlvities Purchase of tangible fixed a88et8 (e,988) Nèt cash {u80d inyprovid•d by invostlng a¢tlvltl88 (6,988) Change in cash and cash equlvalents In thg year Cash and i￿sh equivalents at the beginning of the year 93.399 1,639,663 6,386,023 4,746,360 Cash and cash equivalènts at tho end of the year 23 6,479.422 6,386,023 The notes on pages 39 to 63 form part of these flnancial slaternents Pag8 38 NEW ADVENTURES CHARITY (A Gompany limited by guarantsg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Company status New Adventures Charlly is a charitable company limited by guarantee and is incorporated in England. The members of the company ar8 th8 Trustees named on page 22, In the event of the charity being wound up, the liabillty In respect of the guarantee 18 limited to £1 per member ofthe charity. The Charlty's aims and objectives are detalled In Ihe Trustees report of the financial statements, The charity's registered office 18 Famham Maltings. Bridge Squar&, Famham, England, GU9 7QR. Accounting pollcias 2.1 Basls of proparatlon of financial statsment8 The financial ststements have been prepa￿d.in accordance with the Charities SORP {FRS 102) . A(xounting and Reporting by Charities: Stal8m8nt of R8commended Practi￿ appll¢able to charities preparlng thelr accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ir8land (FRS 102) (effective 1 January 2019) and th8 Compani8s Ad 2006. New Advenlures Charity m8ets th8 definition of a public benefit entily under FRS 102. Assets and liabilitl8s are initially recogni$ed at historical cost or transacltcn value unless otherwise stated in the relevant accounting policy. The consolidated statemenl of financial activities (SOFA) and consolidated balance sheet consolidate8 the financial statements of the charity and tts subsldlary undertakings. The results of the subsidiaries are consolldated on a line by line basis. The results of subsidiaries a¢quired durlng the year are included from the effectiv8 dat8 of acquisition. The results of subsidiaries sold are included up to the effective dat8 of di8p08al. The fun￿Onal and presentational currency of the charity is GBP. The charfty has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own stat8m8nt of financial activities in these financial stat&m8nts. 2.2 Golng con¢ern The audited a¢¢ounts tor 2024125 continue to reflect a healthy rese￿8 Posilion for the ¢ompany. in lino with our re8ervps policy and demonstrating th8 company's continued resllien The year-6nd closèd in 8urplu$, and the reserv6S PQSltion and future for8¢asts and plans enable the . Charity-ttr be Confident that it can conttThue itr delifJeT-Impact for the nexl 24. monUi8 at a minimurri during which time building new and longstanding relationship Mth Trusts and Foundations for future fundraising, conilnued audien￿ and venue confidence in our work and new strategic partnerships will be the priorFty to maintain this positlV8 Position beyond 2024125. The Trustees haiie reached this conclusion bas8d on the current cash posltion. sound finandal forecasting and r8gular contact between the executive and the finance committee. Following this assessment and after making appropriate enquiries. the Trustees hav8 a r8asonable expectation that the Charity has ad8quats rèsources to contlnue in operatlonal existence for the foreseeable future. For this reason, they Continue fo adopt the going concem basis in preparing the financial 8tatem8nts. Page 39 NEW ADVENTURE8 CHARITY IA company limited by guarantsa) NOTES TO THE FINANCIAL STATEPJlENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (contlnuedl 2.3 Incorno All income is recognised once the charity has an entlllement to the income, it18 probab18 that th8 income will b8 received and the amount of incom8 r8c&ivable can be rneasu￿d reliably. Income relating to venu8 fees is r8cognised at the end of the week In whith the show Is slaged and Is exclusive of VAT. Revenue from admission is r8POrted as the amount r8C8iV8d by Ihe producer after the theatres hav8 deducted relevant commission and banklng tharge¥. Incom8 relating to grants from the Arts Council England Is recognised In accordance with the agr8ed funding in the year. Other incom& is r8cognis8d in the period In whith it is receivabl8 and to the extent the goods have been provided or on completion of the service. 2.4 Expenditure Expenditure is accounted for on an accruals basls and has b88n included under exp8nse categories that aggregate all costs for allocation to activities. Ifilhere costs cannot be directly attrfbuted t¢ particular activities they have been allocated on a basis consistent with the US8 of the resources. Governance costs are thos8 incurred in connection with the administration of the charily and compliance wlth constitutional and ststutory requirements. Grants payable are Charged in the year when the offer Is made excepl in those case8 where the offer is conditional, such grants being recognised as expenditure when the Conditions attaching are fujfilled. Grants offered subject to conditions which have not be8n met at the year-end are not8d as a commiknent, but not accrued as an expenditure. Fundraising costs are those inCu￿ed in seeking voluntary contributions and do not include the Costs of disseminatlng Infomiation in support of charilable activities. Support cosfis are those costs incurred directly in support of expenditure on the. objects of the charity and include project'management costs. 2.5 Taxatlon The charlty is exernpt from corporation tax on its charitable activiti8S. Pag8 40 NEW ADVENTURES CHARITY (A company Ilmltod by guarantO0) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Accounting polici88 Icontinued 2.6 Fund accountlng General funds are unrestricted funds which are availab18 for usa at the discretion of tha Trustees in furtherance of the gen8ral objectiV8s of the group and whlch have not been designated for other purposes. Designated funds comprise unrestricted funds that have been 88t asid8 by the Trustees for particular purFJoses. The aim and use of each deslgnaled fund is 8et out in, the notes to th8 financial statements. Restricted funds ar8 fvnds which are lo b8 used in accordance with specific restrictions Imposed by donors or which have been ralsed by the group for particular purposes. Th& costs of raising and arJminist8ring such funds are charged against th8 specific fund. The aim and use of each restricted fijnd Is set out In the notes to the financial statemenls. Investment income, gains and losses are allocated to the appropriat8 ￿nd. 2.7 Tanglble fixed assets and depraclatlon All assets C0s￿ng more than £1,00'0 are capitslised. A review for impairment of a fixed asset j8 Ca￿led out if ev6nts or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls b8twe8n the carying value of fixed assets and Iheir recov8rable amounts are recngnised as impairments." Impalrment losses are recognised in the statement of financlal aotlvlties. Tangible fixed assets are carfed at cost, n8t of depr8ciation and any provision for ,impaimient 08preciation is provided at rale8 calculated to write off the wst of fixed assets, less thelr estlmated residual value. over their expected useful lives on the following basis- Office 8quipm8nl 25% straight line 2.8 Investments Investments in subsidiaries are valued at Cost less provlslon Yor impaiment. .2.9 Interestrecelvable Interest on funds held on deposit is Included when receivable and the amount can be measured reliably by the charity: this is nomially upon notification of the Inte￿5t paid or payable by the Bank. Pag8 41 NEW ADVENTURES CHARITY (A company limited by guarantO8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting poll¢ie8 {COn￿nUed} 2.10 Productlon costs Produdlon costs comprise all costs incurred in the slaging of th8 ballet perfomiances of The Red Sh08s, Swan Lake, Midnight Bell, Romeo & Juliet and Eoward Sclssorhands. These costs are recognlsed in the Statement of Financial Activities in the period the production cOmmen￿s. If the production is yet to commence at the reporting date, all costs are carriad forward in the balancé sh88t as Worf( in Progress. 2.11 D8btr>rs Trade and other debt0￿ ar8 recognised at the settlement amount after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discount8 dué. 2.12Cash at bank and In hand Cash at bank and in hand indudgs cash and 8hort-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or simi18r account. 2.13 Crodltors Creditors are normally recogni88d at their settlement amount after allowing for any Irade discounts due. 2.14 Hollday pay accrual A 51ability is r8cognised to Ihe exl8nt of any unused holiday pay entitlement which is accrued al the reporting date and-carried forward to future periods. This Is measur8d at the undi8counted 8alary Cost of the future holiday entitlement so accrued at the reporting date. 2.15 Financial in8trument8 The tharity only has financial assets and financial liabilities of a kind that qualify as basic fin8ncial instruments. Basic financial Instruments ar8 initially recognised at transaction value . and 8ub8equently measured at their 8etllernent value. The subsidiaries only enter into basic financlal Instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts re￿1vable and payable, loans from other third parties. Th& subsldlarfes have no. material. exposures to Interest..ral8-,-credit. or foreign exGhange risk by virtue that there are no external borrowings. The ticket pro￿der bears all the risk with thg tick@t holder and all material foreign exchange transactions ar8 denominated in sterling whereby the counterparty bear all the risk. 2.16 Pension8 The charity contributes to defined contribuuon pènsion schemes. Contribution8 payable tcs th8 charitys penpion sch8m8s are charged to the Statement of Flnancial Activtties in the period to which they relate. Page 42 NEW ADVENTURES CHARITY {A company limitod by guarantso NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Judgement8 in applying accounting policles and key Sources of estlmailon uncerlalnty The preparalion of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reporied for assets and liabiliO8s as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of thè estimation means that actual outcomes could differ from th088 8Stimat88. The 88timal8s and underlying assumptions are reviewed on an ongoing basi8. Revisions to accounting estimates are recognised in the perlod in whlch the estlmate Is revlsed wheré lh8 revision affects only that pariod. or in th& period of the revision and future periods where the revision affects both ￿￿ent and future perlods. The Trustees do nol believe there to b8 judgem8nts or estimates thal would be considered critical to th8 financial statements. Incomo from donations and legacies Unrestricted funds 2025 R8Strictsd funds 2025 Total funds 2025 Other donations Grants from The Arts Council 91,14a 1,317.810 357,025 448,174 1,317,810 1,408.959 357,025 1,765,984 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Other donation8 Grants from The Arts Council 40,601 1,317,810 156,820 197,221 1.317,810 1,358,411 156,620 1,515,031 Page 43 NEW ADVENTURES CHARITY {A company litnited by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Incomg from charltable activities Unrestricted funds 2025 Totsl funds 2025 Project Income Other In￿Me 194,587 77,106 194,587 77,106 271,693 271,693 Unrestricted frjnds 2024 Totsl funds 2024 Proj6Ct incom8 Other income 179,018 23,609 179.018 23.609 202,627 202.627 Income from trading activities Unrèstricted funds 2025 Total funds 2025 Show venue fee8- UK Show other income 10,462,771 10,462,771 128,804 128,804 10,591.575 10,591.57& Page 44 NEW ADVENTURES CHARITY (A company Ilmlt8d by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from tradlng actlvllle8 (Con￿nUed) (contlnued) Unre8trf¢ted funds 2024 Total funds 2024 Show venu8 f88s- UK Show other income Storage fee income 11,726,432 11,726,432 4,172 4,172 16,803 16,803 11,747,407 11,747,407 Investment inGome Unrestrtcted funds 2025 Total funds 2025 Interest recelvable 58,096 58,098 Unrestricted funds 2024 Total funds 2024 Interest receivable 79,839 79.839 Page 45 NEW ADVENTURES CHARITY (A company limited by guaranto?) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Other Income rasource8 Unre8tricted nds 2025 Totsl funds 2025 Theatre tsx credits 1,079,107 1,079,107 Unrestrlcted funds 2024 Totsl nds 2024 Theatre tax credits 1,232,185 1,232,185 Expendiiure on ralslng funds Unr8strict8d funds 2025 Total funds 2025 Consuttsncy fees and other dlrect costs Staff cost8 73,859 60,980 7¥,859 80,980 Total 2025 134,839 134,839 Unrestrided funds 2024 Totsl funds 2024 Consultancy fees and other direci cost8 staff costs 202,785 78,591 202,765 78,591 Total 2024 281,356 281,356 Paga 46 NEW ADVENTURES CHARITY IA Gompany Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raising funds (conllnued) Tradlng expen8es Unrestricted funds 2025 Total funds 2025 Show producer fee8 Show production Costs Show runnlng Costs staff costs 2,071,040 2,236,941 3,492.829 2,679,329 2,071,'040 2,23S,941 3,492.629 2,679,329 Total 2025 10,479,939 10,479,939. Unr8strict8d nds 2024 Totsl funds 2024 Show produc8r fees Show production costs Show running costs staff costs 1,423,290 2,681,672 5,805,403 2.379,571 1.423,290 2,681,672 5,805.403 2,379.571 Total 2024 12,289,9% 12,289.936 10. Expendituro on charltable actlvities Support costs 2025 Total funds 2025 Direct costs 2025 Various ¢h8ritabl6 activities 1,746.134 392,129 2.138,263 Page 47 NEW ADVENTURES CHARITY (A company limlt8d by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Ex￿ndItUre on charltablg actlvltles (contlnued Support costs 2024 Total funds 2024 Dir8Ct costs 2024 Various charitable activitles 1,136,398 385,878 1,522,276 Analys18 of dlrect costs Total funds 2025 Tolal funds 2024 Wag8s and salaries Offsiag8 activily costs storage Set up Merchandise costs Advertlsing and marketing Storage costs Other staff cosls Green adventures 739,947 625.597 13.390 2.181 91.998 146.078 119,473 7.470 540,482 281,07Q 1,503 43',37S 126,375 118,686 7,818 1,748,134 1,136,398 Analysis of 8UPPOrt costs Total funds 2025 Tctal funds 2024 Wages and salaries Other staff costs Ganeral office costs Depreciation Rent Governan￿ co8ts - Accountsncy and audit C08ts 113,060 94.576 110,152 2.571 58.076 13.694 1e4,8B8 62,217 90,809 3,227 52,475 12,264 392,129 385,878 Page 48 NEW ADVENTURES CHARITY IA company Ilmited by guarantsa) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Audltors, remuneration 2025 2024 Auditorfs remun8ration 7,250 7,000 12. Staff costs Group 2025 Group 2024 Charity 2025 Charity 2024 Wages and salaries Soclal securkty costs Penslon costs 3,401,123 130,918 e1,275 2.963,983 130,233 69,313 792.486 92,099 2S,402 888,908 74,499 22,554 3,593,316 3,163,529 S13,987 783,959 The av&rag& number of persons employed by the charlty durlng the year was as follows.. Group 2025 No. Group 2024 No. Employees 170 138 Th8 number of employ8es whose 8mploye8 benefits (excluding employer penslon costs) exceeded £60,OOD was.. Group 2025 Group 2024 In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 In the band £110.001- £120,000 The total employment ben8fits rec8ived by key management personnel including employevs nafjonal Insuran￿ and employels pension conlrfbutlons were £395,810 (2024.. £375,550). 13. Trustees, remuneration and expenses Durlng the year, no Trustees received any remuneration or other benefits {2024 - £NIL). During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 49 NEW ADVENTURES CHARI (A company limite(I by guaranto8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Tanglble fixed a880ts Group and Charlty Office equipmenl Cost At 1 April 2024 Additions 30,446 6.988 At 31 March 2025 37.434 Deproclatlon At 1 Aprfl 2024 Charge for the year 26,562 2,571 At 31 March 2025 29,133 Net book value At 31 March 2025 8,301 At 31 March 2024 3,884 Page 50 NEW ADVENTURES CHARITY {A company limited by guarantse} NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2026 15. Flxed a8set Inve8tmonts Investments in subsidiary companles charlty C08t or valuatlon At 1 April 2024 Additions Disposals (2) At 31 March 2025 Net book valua At 31 March 2025 At 31 March 2024 Principal sub8idiaries The following w8r8 subsidiary und8rtaking8 of the charity.. Company Name Holding Included in consolldatlon N8w Adv&ntU￿8 R8d Sho8s Ltd New Adventures Sleeplng Beauty Ltd New Adventures Partnerships Ltd New Adventures Verona Ltd New Adventures Sci880rs Ltd N A Swans Ltd New Adventures Bell Ltd 100% Y6$ 100% Yes 1 OOTrA Yes 100¥o Yes 100% Yes 100% Y88 Pag8 51 NEW ADVENTURE8 CHARirY (A compony lknltsd by guaronteo) NOTES TO THE FINANCIAL STATEMENTS FOR TbIE YEARENDED 31 MARCH.2026 16. Flxed asset I￿ve￿I￿ents IGontlnu8dl The fiaaniial results of the Sub￿dIar1e9 forth? yearwere.. $Lthsldlari8s Inc0rn8 Exp8nrllur8 Prorrtl (L08sI for thgy94r Net ass8t8 N￿lA(ha￿Urefj Red Shoes Lld NwA(fvènturès PathiershlpÉ Ltd N6WAt￿Ur88 V8rona Lld NewAd¥*nttsre8 Scls8or8 Ltd N A Swans Ltd N8wArtvantur88 B811 LIO 249,98¥ 1,648,928 1,243,690 8,297,136 185,Q281 11,814.Q461 11.173.498> (1,1n,3581 164,941 134.341 S9.707 1,1TJ,778 Fag& 52 NEW ADVENTURES CHARITY (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 P4lARCH 2025 16. Production costs Group 2025 Group 2024 Production 008ts 176,585 17. Debtorg Group 2025 Group 2024 Charlty 2025 Charity 2024 Due within ono y8ar Trade debtors Amounts owed by group undertakings Other debtors Prepaym8nts and accrued incom& 2,296,941 965,956 167,995 209,832 863 1,499,572 93,168 87,085 700 1,320,008 1,208,791 509.910 1,685,470 194,013 4,015,642 2,845,439 1,878,282 1,500,961 18. Creditors: Amounis falling due within one year Group 2025 Group 2024 Charfty 2025 Charity 2024 Trade creditors Other taxation and so¢ial security Pension fund loan payable other ¢reditor8 Accruals and d8ferred income 306,440 863.489 5,184 940.466 3,147,070 1,247,285 580,110 98,925 40,266 49,383 33,105 71,908 2,932,156 61,662 37,623 24,170 123.055 5,262,849 4.831,459 238,476 229,713 Pag8 53 NEW ADVENTURES CHARI (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2025 19. Ststomant of funds Stst•mont of fund8 . curront yoar Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expendlture Unrestrlcted funds General Funds 541,814 13,409,430 (12,351,711) (930,625) 688,908 D881gnated funds Production and Artlstic Fund Capitsl Fund Digital Fund Resillence and Rlsk Fund Off8tag8 Proj8Cts Swan Lake Prvduciion Future Large-scale ProductÈon 350,000 300,000 117,500 200,000 70,000 650,000 350,000 {100,000) 180,625 700,000 200,000 275,000 200,000 100.000 {23,125) 30,000 {650,0001 800.000 800,000 Fulure Large-scale Production 500,000 70,000 570,000. Future Large-scale Production 850,000 850,000 Future Mid-Large Scale Productlon 1 Future Mld-Large Scale Production 2 450,000 450,000 300,QOO 20D,000 500,000 3,737,500 (23,125) 930,625 4,645,000 Page 54 NEW ADVENTURES CHARITY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Statement of funds (contlnued) Restricted fund8 Magic Me Cygnet School Sensory Adaptsd Performance Wlgs Halr and Makeup Placement Swan Sthool Emerging Principal Em8rging Artist Swan Lake Take Flight Doorstep Duets Schools Workshop Tour 400 89.335 6.928 {4CtOI (97,635) (6,9281 30,800 22,500 27.910 64.000 20.000 5,500 5.000 170,725 60,000 1.000 (57,017) 120,ODO) (5,500) (5,0001 1180,725) (25,0001 34,893 10.000 35,000 1,000 124,573 357,025 1378,205) 103,393 Balan￿ al 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expendlture Total of funds 4,403,887 13,766,455 (12,753,041) 5,417,301 Statement of fund8 . prior year Balance at 31 March 2024 Balan￿ al 1 April 2023 Transfers inlout Inccme Expenditure Unreslrlcted funds Ganeral Funds 650,392 14,820,489 113,988,547) {740,500) 541,814 Page 55 NEW ADVENTURES CHARITY IA company Ilmltad by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. 8tstsmgnt of funds (contlnuedl Balance at 31 March 2024 Balance at 1 April 2023 Transfers inloul Income Expenditure Deslgnatod funds Productlon and Artlstlc Fund Capital Fund Digital R88etV8 R&J Legacy Reserve Resilience and Risk Offstsge and Placemaking Edward Sci8sorhand8 Production Swan Lake Production Future Larg￿scale Production 250,000 500,000 200,000 27,000 200,000 170,000 100,000 (200,OOQI (82,500) (27,000) 350,000 300.000 117.500 200,000 70,000 (100,000) 800,000 (800,000) 650,000 650,000 800,000 800,000 Future Large's￿le Production 500.000 500,000 Future Mid-Large Scale Production 1 Future Mid-Large Scale Production 2 850,000 (400,000) 450,000 300,000 300,000 2,997,000 740,500 3,737,500 Balance at 31 Mar¢h 2024 Balan￿ at 1 April 2023 Transfers inlout Income Expenditure. Rostrlctsd funds Restri¢ted Funds - all funds Sensory Adapted Performance Wigs Hair and Mak6up Placement Swan School Em8rging Principal Emerging Art18t Swan Lake Take Flight 2.100 80,000 {1,700) <43,639) 400 89,335 72,97_4 5.000 15,000 30,520 34,000 10,000 {5,000) {8,072) <30,520) {6,090) {10,000) 6,928 27,910 Page 56 NEW ADVENTURES CHARITY (A company limltsd by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Ststoment of fvnds (contlnuod) statementof fund8 - prloryèar (¢onunu6d) Balance at 31 March 2024 Balan￿ at 1 April 2023 Transfers inlout Income Exp8nditur8 72,974 156,620 (105,021) 124,573 Tolal of funds 3,720,366 14,777,089 114,093,568) 4,403,887 Page 57 NEW ADVENTURES CHARITY (A company Ilmltod by guarants8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Statement of funds {continued} Deslgnated funds Productlon and Artl8tlc Fund A d8signated.fund for future productions and development work on n8w shows or new artistic ambitions. £350,000 transferred in to increase designated fund as conversallons begln around fulure productions. Capital Fund A de8ignated fund for any arising capital expenditure cA)nnecting to our office and storage facility. £100,000 transferred oul to reduce designated fund. Digital A deslgnated fund for our ambitions wtth future creatlon of REEL Adveniures digitsl work and associated filming costs. £23,125 spent down in 2024125 for Digital Productlon Content and Take Part project. £180,625 transferred in at the end of 2024125 for future filmlng ambitions for The Midnight Bell. Resilien￿ and Risk A designated fund to Safeguard the charity against any unforès8èn ri8ks or risks w8 ar8 mitigating on our Risk Register. Offstage Projects A designated fund for future costs in relation to the developrnent of our Offstage projects and deliverlng Plac8making aciivity with our partnership venu8s. £30,000 transferred in to increase designated ftjnd as this activlty continue5. Swan Lake Productlon A designated fund for our future 2024125 production and tour of Swan Lake. £650,000 transferred in and spent dcwn within 2024125. Future Large Scale Production 1 A d&signat6d fund for a future larg&scale production induding UK and possible international tours. Future Large Scale Production 2 IThe Red Shoes Production) A d8signat8d fund for our fvtur8 2025126 production and tour of The Red Shoes. £70,000 transferred In. Future Large Scalè Productlon 3 A designated fund for a future large-scale PrOdu￿10n including UK and possible inlemational tours. £850,000 transferred in. Future Mid- Large Scale Production 1 (The Car Man Produ¢tSon) A designated fund for our future 2025126 produotion. attdts.ULQ.f Tho_¢AtMaL........._.._. Future Mld- Large Scale Productlon 2 (The Midnight Bell Production) A designated fijnd for our futurè 2025126 production and tour ofThe Midnight Bell. £200,000 transferred in. Rèstrict8d Fund8 Magic M6 Funds to be used towards the project, Magic Me. New Adventures Dance Artisls ran a s8ries of workshops Wth a group of residents from St Fillans Care Home in Colchester. The aim was to leam about the residents, discover stories about thèir lives and 8xplor8 Storyt811ing through movement. New Adventure$ then directed and choreographed a short film insplred by the Ilves and storles of the residents, which was dgvised with professional dancets from the company. Page 58 NEW ADVENTURES CHARITY IA company limited by guarantse) NOTES TO THE FINANCIAL 8TATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. Statomant of funds Icontinuadl Cygnel School Funds to be used towards Year Three and Year Four of Cygnet School. In resldence at The Marlowe, Centerbury, our pre-vo¢ational tralning programme for young peop16, Cygnet SchrJoI, launched in July 2021 to provide a much needed pathway between New Adventures,, exlsting participation work and Talént D8V8lopment opportunities. Sensory Adapt8d P8rformanc8 Funds to be used towards the slaglng a sensory adapted performance of Swan Lake. Wigs. Hair and Make Up Placement Funds to be used to continue to offer a. placement to a mi&career WHAM technician with New Adventures on its productions. This is the second year of a iwo-year ¢ontra¢t Swan School Funds to be used for our talent development programme providing opportunifjes for asplrlng dan￿r9 to refin8 Iheir craft and prepare for professional careers, Emerging Princip81 Funds to be used for New Adventures, new initiative, designed to support, mentor and develop dan￿rS through thelr first principal rol88 within our production8. Emerging Artist Funds to be used towards the Em8rging Artist Project. Designed to support and d8velop dancers through their final year of training via mentoring and residency opportunities, leading to a paid contract on an upcoming p.roduclion. Swan Lake Take Flight Funds to be used for a flagship initiative promoting wellbelng in young people through movement and dance. The project trained R8gional Dance Ambas88dor8 who delivered workshops across communty groups in England, alongside intensive Take Flight Days that, incorporated movement creation and theatre visits to performances at Swan Lak8 Wlth New Adventures. An evaluative study led by Brunel University examined thè programme's impact on participants, with feedback demonstrating strong demand for increased frequency and 8ccessibility of s6ssions. Th6 proJ8ct includes ongoing work to establish a sustainabl8 legacy ihrough Placemaking Venues and ￿ntInued evaluation of ils long-tem Impact. Doorstep Duets Funds to be u8ed toward8 our production of Doorstèp Du8ts and in particular for touring costs (including accommodation), marf(eting costs to promote the proJ2ci to hard-to-reach ￿MmunItieS and our monitoring and evaluation tool8. Schools Workshop Tour Funds to be used towards a comprehensive educational initiative providing schools wilh access to New Adventures, work through tours, workshops, and digital resources. The programme delivered sessions acros8 multiple schools, including careers tslks featuring panel discussions with company professionals. .A bespoke Digital Resource was produced to support all productions, demystifying the creative process and r8P8rtoir8 through 8xercis88 and activities adapted for Primary School, GCSE, and A Leval students. The programme continues to broaden ac￿SS to dance education and inspire young people's engagement with the art fomi. Page 59 NEW ADVENTURES CHARITY (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Summary offund8 Summary of funds . ¢urrent yaar Balanc8 at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Exp8nditura General funds D88ignated funds R8Stricted fund8 541.814 13,409.430 (12,351,711) (930,625} 3,737,500 (23,1251 930,625 124,573 1378,2051 688,908 4,645,000 103,393 357.025 4,403,887 13,766,455 (12,753,041) 5,417,301 Summary of funds- prioryear Balan￿ 8t 31 March 2024 Balan￿ at 1 April 2023 Transfer8 Inlout Income Expendlture General funds Designatsd funds Restrtcted funds 650,392 14.620,469 (13,988,547) 2,997,000 72,974 (740.500) 740.500 541.814 3,737,500 124,573 156,620 1105,0211 3,720.366 14,777,Q89 (14,093,568) 4,403,887 21. Analysis of nèt assets between funds Analysls of net assets between funds - current year Unrestricted ftjnds 2025 Restricted Designated funds funds 2025 2025 Total funds 2025 Tangible fixèd assets Cuffent assets Cr8dilors due within one year 8,301 5,923,256 15,262,649) 103,393 4,645,000 10,671,649 (5,262,649) Total 668,908 103,393 4,645,000 5,417.301 Page 60 NEW ADVENTURES CHARITY {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 21. Analysis of not assats betweon funds Icontlnuadl Analysls of not asgots botweon funds - prfor y￿r Unreslri¢tsd funds 2024 Restricted D8signat8d funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current ass8ts Cr8ditors du8 Within on8 y8ar 3,884 5,369,389 (4,831.459) 3,884 9,231,462 (4,831.459) 124.573 3,737,500 Total 541,814 124.573 3.737,500 4,403,887 22. Reconciliation of not movemont In funds to not cash flow from opgrnting activities Group 2025 Group 2024 Net inmme for the year (as per Stalement of Financial Activities} 1,013,414 683,521 Adjustment8 for: Depreciation charges {Increase)Idecrease in debtors Increasel(decrease> in creditors 2,571 3,227 (1,346.788) (795,202) 431.190 1,748,117 Net cash provided by operating activities 100,387 1,639,663 23. Analysls of cash and cash equlvalents Group 2025.. Group 2024. Cash in hand 6,479,422 6,386,023 Total cash and cash equlvalents 6,479,422 6,386,023 Page 81 NEW ADVENTURES CHARITY (A company limitod,by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 24. Analysis of changes In not debt At 1 Aprll 2024 Ca8h flow8 At 31 March 2025 Cash al bank and In hand Debt due wtthin 1 year 6,386,023 93,399 (5,184) 6,479,422 {5,184} 6,386.023 88,215 6,474.238 25. Penslon commllments The group operates a d8fined contributions pension scheme, The assets of the scheme are held separaleiy from those of the group in an independently administered fvnd. The pension cost Gharge represents contributions payable by the group lo the fund and amounled to £61,275 (2024.. £69,313). Contribution8 lotalling £5,218 (2024.. £11.645) were payable to the ftjnd at. the reporting dgte and are included in credltors. Page 62 NEW ADVENTURES CHARITY (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 26. Related party transactions During the year the charity paid a production grant of £650,000 (2024: £Nil) to its subsidiary NA Swans Ltd and re￿iVed various fees'totslling £111,349 (2024.. £Nil) and donations under the deed of covenanls totalling £1,123,778 (2024.. £Nill from NA Swans Ltd. At the reporting date, the charlty owed £22.100 (2024., £NlI) to NA Swans Ltd. and was owed £83,484 (2024: £NII) by NA Swans Lt¢. At the reporting date the charity was owed £5,578 (2024.. £5,578) by New Adventures Sleeping Beauty Ltd. During the year tha charity rec&iv6d donations under the deed of covenants lotalling £Nil (2024- £13,702) from its subsldiary New.Adventutps Nutcracker Lld. During the year the charity paid a production grant of £Nil (2023.. £350.OQO) to its subsidiary N8W Adventures Verona Ltd and received various fees totalllng £87,333 (2024.. £171,500) and donafjons und&r th8 d8ed of ¢ov8nants totalling £134,341 (2024: £690.711) from N8w Adv8ntur8s Verona Ltd. At the reporting date. the charity was owed £1 (2024.. £729,343) in aggregate by New AdVen￿re8 Verona Ltd. During the year the charily paid a production grant of £Nil (2024,. £800,000) to its subsidiary New Adventures Scissors Ltd and r8c8ived various fee8 totalling £33.000 (2024.. £192,SOO) and donations under the deed of covenants totalling £69,707 {2024'. £601',036) from New Adventures Sclssors Ltd. At th8 reporting datè, the charity was ow8d £1 (2024: £628,620) in aggregats by New Adv8ntures Sclssors Ltd. At the repcrtlng date the char￿Y was owed £1,731 (2024: £Nil)) by subsidlary New Advenbjres Red Sho8s Ltd. At the r8porting dat8 the charity was owed £100,877 (2024.. £81,508) by subsidiary New Adv8ntures Partnership Limited and re￿iVed a donation under the deed of covenants totalling £164,941 (2D24.' £Nil) from New Adventures Partner8hip Limited. During the year the charity re￿iVed donations in aggregate of £3,180 (2024.. £Nil) from its Irustses. During the year the charity received fees Elmhurst Ballet School, a connected enlity that shares a common trust88 With New Adventures Charity. tolalling £1,919 (2024: £Nil). During th8 year Ihe charity paid f88S to Great Leap.Forward, a related party, toialling £10&,125 (2024.. £454 74.)-.-" Page 63