DocLtsign Envelope ID.. 33F13C38-7FOA45F7-A087-65935A9EOCC3 Registered number.. 02966897 Charity number= 1134077 Theatre Absolute Limited Trustees, Report and Finonciol Stolements for the year ended 31 Morch 2024 rfJDAINS
AUDIT
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A08745935A9EOCC3 Theatre Absolute Limited (A compony limited by guarantee) Contents Page Reference ond odministrative detalls of the company. its Trustees and odvisers Trustees. report Independent examiner's report Stotement of financial octivities 8olance sheet Notes to the financial stotement5 9-23
Docusign Envelope ID.. 33F13C3&7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limitèd (A company limited by gvarontee) Reference and Administrative Details of the Compony. its Trustees and Advlsers for the year ended 31 Morch 2024 Trustees Ms F Swonn, Choir Mr P Wollers Ms M Smith Mr J Neelonds Mr J Potel Ms B Kiddie Compony registered number 02966897 Charity registered number 1134077 Registered office 59 Oldfield Rood Chopelfields Coventry West Midlonds CV5 8FU Company secretory Mrs J C O'connell Independent exominer Doins Audit Limited 2 Chomberloin Square Porodise Circus Birminghom 83 3AX Poge I
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limited (A compony Ilmited by guarantee) Trustees, report for the yeor ended 31 Morch 2024 The Trustees present their annuol report together with the finoncial 5tolements of the compony for the 1 April 2023 to 31 Morch 2024. The onnual report serves the purposes of both o Trustees, report and a directors, report under company low. The Trustees confirm thot the onnuol report ond financiol stotements of the choritable compony comply with the current stotvtory requirements, the requirements of the choritable compony's governing document and the provisions of the Stolement of Recommended Practice (SORP) opplicoble to charities preporing their occounts in occordonce with the Finonciol Reporting Stondard opplicoble in the UK and Repvblic of Ireland (FRS102) (effeclive 1 Jonuoru 2019). Since the componu qualifies as small under section 382 of the Companies Act 2006. the strotegic report required of medium and lorge componies under the Companies Act 2006 (Strotegic Report ond Directors, Report) Regulotion5 2015 hos been omitted. Strurture. governonce and monogement a. Constitvtlon Theatre Absolute Limiled is registered os o charitable company limited by guorontee. The compony is constituted vnder 0 Tr4emorondum of Associotion ond is o registered chority number 1134077. The compony wos incorporated on 12 September 1994 ond commenced octivities on Ihol dole. b. Method5 of appointment or election of Trustees The monogement ot ihe compony Is the responsibility of the Trustees who ore elected ond co-opted under the terms of the Article of Association. c. Risk manogement The Trvstees hove ossessed the major risks to which the company is exposed. in parlicvlar those reloted to the operations ond fir)onces of the compony. ond ore sotisfied thot systems ond procedures are in ploce to mitigole exposure to the major risks. d. Members, liabllity The Members of the compony guorontee to contribute on omount not exceeding £1 to the ossets of the compony in the event of winding up. Poge 2
Doeusign Envelope ID.. 33F13C3&7FOA45F7-A087-65935A9EOCC3 Theotre Absolute Limited (A company limited by guarantee) Trustees, report (continued) for the yeor ended 31 Morch 2024 Objectives and activities a. Poll¢les and objectives To encouroge and advonce :he educolion of the public In the oppreciarion ond proctice of the orts. by increasing access to the orts, in porticulor through the production ond provision ol contemporory theotre ploy5, ond ossocioted porticipotory performonce. literocy ond educolionol activities delivered principally for the benefit of. but not limited to. young people ond other persons who require help with liierocy. communicotion. behoviour or self-help skills. sociol development. self-esteem ond confidence building, with a view to empowering and educoting them in such oreos ond integroting them into the community and ossisting their development os full members of society. b. Activities vndertoken to achieve objectives The objectives of the company ore ochieved through the production ond provision of contemporary theotre plays ond performonces by writers ond ortists, ond associated porlicipotory events. tolks, debotes, literacy ond educolionol octivities Currently the moin oclivities involve working with other port•ers and organisotions In the city of Coventry ond the West Midlonds region. c. Maln activities undertoken to further the compony's purposes for the public benefit The main octivities ore the creation of new contemporary theotre ploys. norrotives. educotionol ond community workshops and performance events with professional writers, directors, oclors ond emerging ortists/performers. students ond members of the locol community. d. Pvbllc Beneflt The Trustees hove each received copies of the Chority Commission Guildonce on Public Benefit and this forms port of the Induction Pac for new Trustees. Theolre Ab501ute maintains the offer of access to high quolity live theotre ond porticipatory orts activities to the general public ol on affordoble price. Achievements ond performonce o. Review of activities This lost yeor hos been onother one of significont change for Theatre Absolute. Following our post Covid emergence. in which we began to find our feet ond our confidence ond explore woys to reconnect ourselves bock to both our ortistic mission and our audiences ond porticiponts. we left our Shop Front Theatre spoce due to Its impending demolition by Coventry City council os the whole orea we were bosed in Is to be redeveloped. Thus. the yeor in question for thi5 report hos been about finding our feet in o post venue londscape, where remoining visible and relevont hos been o challenge, 0$ we Imogine whot our work might be going forword. Poge 3
Docusign Envelope ID.. 33F13C3&7FOA45F7-A08745935A9EOCC3 Theatre Absolute Limited (A company Ilmited by guarontee} Trustees, report (continued) for the yeor ended 31 March 2024 Achievements and performance (continued) Thot being sold. we feel we hove hondled the tronsition well, ond hove stoyed connected io ond oware of our environment, ond worked closely in the last yeor to nurture reloiionships with city bosed ortists. much in the sctme woy we did the previous yeor, when WÈ creoted o series of residencies for writers. In porticulor, we have begun o new work called Proiecl.'Public. which in the some woy os some of our previous worked like Humoniston ond Are Where We Are. is obout colloboration and individuol commissions lo eventuolly creote a whole piece The project wos begun in Spring 2023, os we commissioned Adele Mory Reecj. o city bosed photogropher ond video moker to create o series of works vio film, ond podcost. to explore her relot..onship to the public and the built environment, More specifically. our provocation to her wos "Whot ore you currently Ihinking/obsessed obout?" The work olso sow Theatre Absolute commission it's core member5 Chris O'connell ond Julio O'connell. so thot they might respond vio their practice of writing ond textiles over the cou,"se of 2024, and into 2025. Alongside this. in the spring, Chris undertook on intensive period of writing focusing on short story form, which wos part of R&D towords o different future Theotre Absolute work in 2025. JJIY sow the premiere of Adele's work, entitled Poloroids. Podcasts. ond Perombulolion5. ond is viewoble on Theotre Abgolute's website. We have been keen lo retoin our ploce at the toble regaroing holistic question obout orls ond culture in the city. and in October we met with o senior leodersnip :eom and civil servonts from Whiteholl. who were in the city exploring the work of Coventry bosed artists. In the some month os well os continuing her place on the West Nidlonds Culturol Leadership 8oard. Julia continued to mentor emerging locol ortisls. olongside meeting with the ortistic directors of Oddsocks Theotre who os o compony were looking for guidance in diversif uing their proctice, and ways to work from disused spaces. Ju,io has extended her mentorship proctice and connected with on internotionol ortist from the US, offering support and guidonce as the 0rtISt looks to diversify her proclice. We hove also continued our suDport of locol wriiers ond in December attended on FI&D reoding of new work by Amhoro Spence. In oddition, Julio held o second mentoring session with Oddsocks Theolre to see their progression os they establish on independent arts spoce in Derbyshire. In the new yeor. Chris was an elected delegate at The Future Works symposium orgor)ised by Talking Birds. and held ot Coventry Colhedral, which sel obout Interrogoting ond seeking onswers with regord to Doth orts ond culture both in the city. and notionolly post City of Culture. The month of Jonuory olso sow the premiere of Chris. commissioned response to Project".Public through his short film Frontier. which explores ideos in relotion to the liminol. ond is viewoble on Theotre Absolute's website. Concluding the yeor in FebrLiary. Julio wos mentoring once ogain. offering careers ar)d ortistic odvice to artist Avlor Kour The core leom ore now preparing to deliver a series of filmed Interviews with porticiponts engoged on Project..Public. Work will begin In Hoy 2024. The rest of the yeor will see Chris returning to a second phose of R & D in relation to future work in 2025 os mentioned previously. Poge 4
Docusign Envelope10.' 33F13C3B-7FOA45F7-A08745935A9EOCC3 Theatre Absolute Limited (A compony Ilmited by guarontee) Trustees, report (continved) for the year ended 31 Morch 2024 Financiol review o. Going concern After moking appropriate enqviries, the Trustees have o reosonoble expectotion Ihol the compony hos adequote resources lo continue in operationol existence for the foreseeoble future. For this reason. they continue to adopt the going concern basis In preparing the financiol stotements. Further detoils regarding the adoption of the going concern basis con be found in the occounting policies. b. Rèserves policu Free reserves ot 31 Horch 2024 ore £60.837 (2023 - £67,226). Th.ese reserves cover ot leost six months running costs os well os covering future strotegic plonnin9 by the Creative Director and Producer. Statement of Trustees, responsibilities The Trustees (who ore a150 the directors of the company for the purposes of compony law) ore responsible for preporing the Tru51ees' report ond the finonciol statements in accordonce with opplicable low ond United Kingdom Accounting Slondords (United Kingdom Generolly Accepted Accounting Proctice). Componu law requires the Trustees to prepore finonciol slotements for eoch finonciol Under company law, the Trustees must not approve the financial stotements unless they ore satisfied thot they give o true ond foir view of the stote of offoirs of the company ond of Its incoming resources ond opplicarion of resources, Including Its Income ond expenditure. for thot period. In preparing these financial stotements. the Trustees ore required to.. select suitable occovnling policies and then opply them consistently.. observe the methods ond principles of the Chorilies SORP (FRS 102).. moke judgments and occounting estimates thol ore reosonoble and prudent.. stote whether opplicoble UK Accounting Stagdords (FRS 102) have been followed. subject to ony moleriol deportures disclosed ond exploined in the finonciol statements.. prepore the finonciol stotements on the going concern basis unless it is inappropriote to presume that the compony will continve in business. The Trustees ore responsible for keeping odequote occounting records thot ore sufficient to show ond exploin the compony's tronsoctions and disclose with reasonable accurocy ot ony time the f Inonciol position of the company ond enoble them to ensure thot the financial 5totements comply with the Componies Act 2006. They ore olso responsible for safeguording the assets of the compony and hence for toking reosonoble steps for the prevention ond detection of froud and other Irregulorities. Approved by order of the members of the board os Trustees ond signed on their behalf by.. Ms F Swann Choir Dote.. 15 October 2024 Poge 5
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limited (A compony Ilmited by guarantee) Independent Exominer's Report for the yeor ended 31 March 2024 Independent ExamIneS Report to the Trustees of Theatre Absolvte Limited ('the company,) I report to the chority Trustees on my exominotion of the accounts of the compony for the yeor ended 31 March 2024. Responsibilities and Basls of Report As the Trustees of the compony (ond its directors for the purposes of compony low) yov ore responsible for the preporotion of the occounis in occordonce with the requirements of the Componies Act 2006 ('the 2006 Act,). Hoving sotisfled myself Ihot the occounts of the compony ore not required to be oudlted under Port 16 of the 2006 Act ond ore eligible for independent examination. I report in respect of .Y examinotion of the company's accounts corried out under section 145 of the Chorities Act 2011 ('the 2011 Act,). In corrying out my examinotion I hove followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independènt Exominerfs Statement I hove completed my examinotion. I confirm thot no matters hove come to my otlention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the compony os reovired by section 386 of the 2006 Act." or the occounts da not occord with those records., or the occounts do not comply with the occounting requirements of section 396 of the 2006 Act oiher thon any requirement thot the occounls give o 'True ond 4airf view which is not o matter considered os port of on independent examination.. or the accounts hove not been prepored in ac¢ordonce with the methods ond principles of the Siotement of Recommended Proclice for occounting and reporting by charities [opplicoble to chorities preporing their occounts in accordonce with the Finonciol Reporting Siondord opplicoble in the UK ond Republic of Ireland (FRS 102)] I hove no concerns ond hove come across no other motters in conneclion with the exominotion to which ottention should be drown in this report in order to enoble a proper underslonoing of the occounts to be reoched. This report Is mode solely to the compony's Trustees, as o body. in occordonce with Pan 4 of the Chorilies (Accounts ond Reports) Regulolions 2008. My work hos been underloken so thot I might stote to the compony's Trustees those motters l om required to stote to them in an independent exominer's report and for no other purpose To the fullest extent permitted by law, I do not occept or ossume responsibility lo anyone other thon the compony and the company's Trustees os a body. for my work or for this report. Signed.. Doted.. 15 October 2024 Andrew Morris FCA Doins Audit Limited Birminghom Page 6
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theotre Absolvte Limited (A compony limited by guarontee) Statement of financial octivities (incorporating Income and expenditure account) for the yeor ended 31 Morch 2024 Unrestricted fvnd5 2024 Restricted funds 2024 Totol funds 2024 Totol funds 2023 Note Income from.. Donotions ond legocies Charitable oclivities 369 369 2,175 38,750 38.750 66.752 Other troding octivities 4.650 Investments 2.114 2.114 477 Total income 2.483 38.750 41.253 74,054 Expenditure on.. Charitoble activities 17.387 46.038 63.425 130.931 Totol expenditure 17.387 46.038 63.425 130,931 Net movement in funds (14.904) (7,288) (22.192) (56.877) Reconciliation of funds: Totol funds brought forword Net movement in funds 119.675 12.953 152.628 189.505 (14.904) (7.288) (22.192) (56,877) Total funds corried forward 104.7n 5.665 110.456 132.628 The notes on pages 9 10 23 form port of these financial stotements. Poge 7
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limlted (A compony limited by guorontee) Registered number: 02966897 Bolonce sheet As ot 31 March 2024 2024 2023 Note Flxed 05sets Tangible assets Current OS5ets 1,768 Debtors 12 565 4.157 Cash oi bonk and in hond 110.427 137,335 110.992 141.492 Creditors". amounts folling due within one year 13 (2,524) (8.864) Net current assets 108.668 132.628 Total net ossets 110.436 132.628 Chority f unds Restricted fundg 14 5.665 12.953 Unrestricted funds 14 104.771 119,675 Totol fvnds 110.436 132.628 The compony wos entitled to exemption from audit under section 477 of the Componies Act 2006 The members hove not required the compony lo obtoin on audit for the yeor in queslion In occordonce with section 476 of Companies Act 2006. The Trustees ocknowledge their responsibilities for complying with. the requirements of the Act with respect to occountip,g records ond preporotion of financial statements. The finonciol stolements hove been prepored in occordonce with the provisions opplicable lo entities subject to the smoll componies regime. The finoncial stotements were approved ofjd outhorised for issue by the Trustees ond signed on their behalf by.. $lun*d by.. Ms F Swonn Choir Date. 15 October 2024 The noles on poges 9 to 23 form port of these finoncial statements. Page 8
Docusign Envelope10'. 33F13C3B-7FOA45F7-A08745935A9EOCC3 Theatre Ab501vte Limited (A company Ilmited by guarontee) Notes to the financial statements for the yeor ended 51 Morch 2024 General information Theolre Absolute Limited is o chariloble compony incorporoted in Englond ond Woles and registered with the Chority Commission. The oddress of the regislered office is given in the reference and administrolion details section of these financiol stotements. The nature of ihe Charity's operotions ond principal octivities ure deloiled in the Trustees Report. Accountlng policies 2.1 Bosis of preporotion of finonciol statements The finonciol stotements hove been prepared in occordonce with the Charitles SORP (FFIS 102) Accounting and fieporting by Chorities". Stotement of Recommended Proctice opplicoble lo chorities preporing their occounts in occordonce with the Financiol Reporting Standard applicable in the UK ond Republic of Irelond (FAS 102) (effective 1 Jonuory 2019), the Financiol Reporting Stondard applicable in the UK ond Republic of Ire',ond (FRS 102) ond the Companies Act 2006 Theotre Absolute Lim.ited meets the definition of o public benefit entity under FRS 102. Assets ond liobilities ore iniliolly recognised ot hi51oricol cost or transoction volLJe Ljnless otherwise stated in the relevont occounting policy. 2.2 Income All income is recognised once the company has enti+lement to the income. it Is probable that the Income will be received ond the amount of income receivoble con be measured re'.iobly. Gronts are included In the stotement of financiol activities on o receivoble bosis. The bolonce of income received for specific purposes but not expended during the period Is shown in the relevont funds on the balonce sheel. Where income is ". eceived In odvonce of entitlement of recelpt. its recognition Is deferred ond included in creditors as deferred income. Where entitlement occur5 before income is received. the income is occrued. Donotions ore recognised on o receivoble basis (where there ore no performonce-reloted condit,,ons) where ihe receipt is proboble and the amount con be reliably measured. Other incom.e, including the hire of focilities, is recognised in the year it is receivoble and to the extent the company has provided the goods or services. Income tox recoveroble in relation to donotions received under Gift Aid or deeds of covenont is recognised ol the time of Ihe donotion. Income tox recoveroble in relation to investment income Is recognised ot the time the investment Income is receivoble. Poge 9
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limited (A eompany limited by guorantee) Notes to the finoncial stotements for the year ended 31 March 2024 Accovnting policles (continued) 2.3 Expenditure Expenditure is recognised once there is o legol or constructive obligotion to transfer economic benefit to o third party. it is proboble thol o Ironsfer of economic benefits will be required in settlement ond the omounl of the obligation can be meosured reliobly. Expenditure is clossified by activity. The costs of each octivity ore made up of the lolol of direci costs ond shored cosls, including support costs involved in undertoking eoch octivity. Oirect costs oltributoble to o single octivily ore ollocoted directly to thot octivity. Shored costs which contribute to more thon one octivity and support costs which ore not ottributoble to a single activity ore opportioned between those activitie5 on o bosi5 consistent with the use of resources Central stoff costs ore ollocoted on the bosis of time spent, ond depreciotion chorges allocoted on the portion of the osset'5 use. Expenditure on charitob.'e activities is incurred on directly undertoking the octivities which further the company's objectives. as well as ony associated support costs. 2.4 Interest recesvable Interest on funds held on deposit is included when receivoble ond the omount con be me05ured reliobly by the company." th15 15 normolly upon notificotion of the interest paid or poyoble by the institution with whom the funds are deposrted. 2.5 Tongible fixed ossets ond depreciation Tongible fixed ossels costing £250 or more ore copi:olised and recognised when future economic benefits ore proboble ond the cost or value of the ossel con be meosured reliobly. Tongible fixed ossetg ore initiolly recognised ol cost. After recognition. under the cost model. tangible fixed ossels ore meosured a: cost less accumuloted depreciotion ond ony accumulated impoirmenl losses. All costs Incurred to bring o tongible fixed osset Into its Intended working condition should be included in the meosurement of cost. At each reporting dote the compony assesses whether there 15 ony indico110n of impoirmenl. If such indicotion exists. the recoveroble omount of the osset is determined to be the higher of its foir volue less costs to sell ond its volue in use. An impoirment loss is recognised where the carrying amount exceeds the recoveroble omount. Depreciotion is chorged so as to allocote the cost of longible fixed ossets less their residuol volue over their estimoted useful lives. on o redvcing bolonce bosis. Depreciotion is provided on the following bosls.. Fixtures and fittings Computer equipment 100h reducing bolonce 20/ reducing bolance Poge 10
Docusign Envelope ID". 33F13C3B_7FOA45F7.A087_65935A9EOCC3 Theatre Absolvte Limlted (A compony limited by guarantee) Notes to the financial stotements for the yeor ended 31 March 2024 Accovnting policies (continued) 2.6 Debtors Trode ond other debtors are recognised ot the settlement omount after ony Irode discount offered Prepoyment5 ore valued a; the amount prepoid net of ony trode discounts due. 2.7 Cash at bank ond in hond Cosh ol bonk ond in h,ond includes cash ond short-lerm highly liquid investments with o short moturity of three months or less from the dote of ocquisilion or opening of the deposit or similor occovnt. 2,8 Liabilities ond provisions Liobilities ore recognised when ;here is an obligot',on ol the bolonce sheet dole os o result of o past event. it is probable thot o transfer of economic benefit will be required in settlement. ond the omount of the settlement can be estirno•ed reliobly. Liobilities ore recognised at the omount thot the compony onticipates It will poy to settle the debi or the omount it hos received os odvanced poyments for the goods or services it must provide Provisions ore meosured ot the best estimole of the omounts required to settle the obligation. Where the effect of the time volbe of money is moteriol, the provision is bosed on the present vo'.ue of those omounts. discounted at the pre-lox discount rale that ref lects the risks Specific to the liobllity. The unwinding of the discount is recognised in the stotement of financiol oc:ivities os a finance cosl. 2.9 Financlol instruments The compony only h.os finonciol ossets ond finonciol Iiobilities of o kind Ihot quolify as bosic financiol instrvments. Bosic finonciol ir)strLJments ore initially recognised at Iransoction volue ond subsequently meosured ot their settlement volue with the exception of bank loans which ore subsequently measured ol omortlsed cost using the effective interest method. 2.10 Fund accounting General funds are unreslricted funds which ore avoiloble for use ot the discretion of the Trustees in furtherance of the general objectives of ihe compony and which hove not been designoted for other purposes. Designated funds comprise unrestricted funds thot hove been set oside by ihe Trustees for porticulor purposes. The oim ond use of eoch designoted fund is set out in the notes to the linoncial stotements. Restricted funds ore funds which ore to be used in occordonce with specific restrictions imposed by donors or which hove been roised by the compony for porticulor purposes. The costs of roising ond odministering such fvnds ore chorged ogoinst the specific fund. The oim and use of eoch restricted fund is set out In the notes to the finonciol slotemenis. Poge 11
Docusign Envelope In_. 33F13C3B-7FOA45F7-A087-65935AgEOCC3 Theatre Absolvte Limited (A compony limited by guarantee) Notes to the finonciol statements for the year ended 31 March 2024 Income from donations ond legacies Unrestricted funds 2024 Total funds 2024 Donotions 369 369 Unrestricted f unds 2023 Totol fund5 2023 Donotions 2.175 2.175 Income from choritable octlvities Restricted funds 2024 Totol funds 2024 Grants received 38.750 38.750 Restricted funds 2023 Totol funds 2023 Gronls received 66.752 66.752 Poge 12
Docusign Envelope ID.. 33F73C3B-7FQA45F7-A087-65935A9EOCC3 Theotre Absolute Limited (A compony limited by gvorantee) Notes to the financiol statements for the yeor ended 31 Morch 2024 Income from other trading octivities Total funds 2024 Events, rent and other income Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Events. rent ond other ir)come 3.825 825 4.650 Investment income Unrestricted funds 2024 Total fvnds 2024 Bank interest received 2,:.14 2.114 Unrestricted funds 2023 Tolol f unds 2023 Bonk interest received 477 477 Page 13
Docusign Envelope ID.. 33F13C3B-7FDA45F7-A087-65935A9EOCC3 Theatre Absolute Limited (A company limited by guorontee) Notes to the financial stotements for the yeor ended 31 Morch 2024 Analysls of expenditvre on charitable activities Summory by fund type Unrestricted funds 2024 Restricted funds 2024 Total 2024 Choritoble octivilies 17.387 46.038 63.425 Unrestricted funds 2023 Restricted funds 2023 Totol 2023 Choritoble activities 11.254 119.677 130.931 Summary by expenditure type Depreciation 2024 Other costs 2024 Total 2024 Choritoble octivities 272 63.153 63.425 Depreciotion 2023 Other costs 2023 Total 2023 Charitoble octivilies 1,081 129,850 130.931 Poge 14
DocLtsign Envelope ID.. 33Fl3C37FOA4SF7-AO87-6S93sA9E0c¢3 Theatre Absolvte Limited (A compony limited by guarantee) Notes to the financial stotements tor the year ended 51 March 2024 Analysls of expendlture by octivities Activitles undertaken dlrectly 2024 Support costs Totol funds 2024 2024 Chariloble activities 56.445 6.982 63.425 Activities undertaken directlu Support costs 2023 2023 Total funds 2023 Choriloble octivities 116.188 14.743 130.931 Analysis of direct costs Total funds 2024 Totol funds 2023 Project Costs 56.445 116,188 Page 15
Docusign Envelope ID.. 33F13C3B.7FOA45F7-A087-65935A9EOCC3 Theotre Absolvte Limited (A company limited by guarantee) Notes to the financiol statements for the year ended 31 Morch 2024 Anolysis of expenditure by activities (continued) Anolysis of support costs Total funds 2024 Totol funds 2023 Depreciolion 272 1.081 Water ond rotes 1.124 Premises expenses Posloge ond stationery Trovelling ond subsistence Telep4one ond iileriet chorges Computer cos15 Accountoncy fees Bonk charges Sundry expenses 2,876 128 323 206 976 597 1.196 1.605 789 2.998 3.613 269 282 238 144 Insvronce 669 1.225 Reseorch ond development expenses 1.114 6.982 14.743 Independent examineVs remvneratlon 2024 2023 Fees poyoble to the company's independent exominer for the independent exomination of the compony's annuol accounts 1,850 1,725 10. Trustees, remuneration ond expenses During the yeor. no Trustees received any remunerolion or other benefits (2023 - £NIL). During the yeor ep.ded 31 March 2024. no Trustee expenses hove been incurred (2023 £NIL). Poge 16
Docusign Envelope ID-. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theotre Absolute Limited (A compony limlted by guarontee) Notes to the finoncial statements for the year ended 51 March 2024 11. Tangible fixed assets Fixtures ond flttings Computer equipment Totol Cost or volvation At 1 April 2025 Additions 5,110 12.002 17.112 2.040 2.040 At 31 Morch 2024 5.110 14.042 19.152 Depreciation At 1 April 2023 Chorge for the year 5.110 12.002 17,112 272 272 At 31 Morch 2024 5.110 12.274 17.584 Net book valve At 31 March 2024 1.768 1.768 At 31 Morch 2023 12. Debtors 2024 2023 Trode debtors 40 VAT repouoble Prepayments and accrued income 44 911 521 3.206 565 4,157 Poge17
Docusign Envelope ID.. 33F13C3B-7FOA45F7-A087-65935AgEOCC3 Theotre Absolute Limited (A company limited by guorontee) Notes to the flnoncial stotements for the year ended 51 Morch 2024 13. Creditors- Amounts folling due within one year 2024 2023 Trode creditors 22 Accrvols and deferred income 2.524 8,842 2,324 8.864 Poge 18
Oocu5ign Envelope 10.. 33F13C38-7FOA45F7-A087*5935A9EOCC3 Theatre Absolvte Limited (A company limited by guorantee) Notes to the finoncial statements for the year ended 31 Morch 2024 14. Statement of funds Statement of funds- current year Balonce ot 1 Aprll 2023 Tronsfers Balonce ot 31 in/out Morch 2024 Income Expenditvre Unrestricted funds Designated funds Artistic Progromme & Copocity Designoled funds Projecr Public Designoted fvnd Reseorch & Development fund 23.563 23.563 (3.955) 15.000 11.045 28.886 (6.328) 05.000) 7.558 52.449 (10,283) 42.166 General funds Generol Funds 67.226 2.483 (7.104) 62.605 Total Unrestrirted funds 119,675 2.483 07.387) 104.771 Restricted funds Orgonisotionol Development 8.853 (8,853) Esmee Fairboirn Core Gront 4.100 38,750 (37.185) 5,665 12.953 38.750 (46.038) 5.665 Totul of funds 132.628 41.233 (65,425) 110.436 Poge 19
Docusign Envelope ID.. 33F13C38-7FOA45F7-A087*5935A9EOCC3 Theatre Absolvte Limited (A company limited by guarantee) Notes to the financial statements for the year ended 51 March 2024 14. Statement of funds {continued) DESIGNATED FUNDS Artistic Programme & Copocity designated funds The brought forword5 designoled fund of £23.563 remoins in ploce for future plonning ond delivery of work in 2024125 financial yeor. Research & Development deslgnated fund The brought forwords funds of £28.886 for future reseorch ond development of orlistic concepts ond activities. to protect the compony goin9 forwords were portiolly utilised in the finonciol yeor. with £15k designoted for work on Project Public. Remoining FI&D funds held at 31 March 2024 were £7.558. Project Public designated fund A fund of £1S.000 was creoted in the finonciol yeor and wos partially spent. with funds held of £11,045 at 31 Morch 2024 for fvlvre work on this project. RESTRICTED FUNDS Esmee Foirboirn Foundation The cost of living grant uplifi received from the Esmee Foirboirn Foundolion in Feb 2023 wos fully spent in the yeor with no restricted funds held ut 31 Norch 2024. The core gronl of £38.750 wos received from the Esmee Foirboirn Foundotion in April 2023 ond was partially spent with o restricted fund bolonce of £5,665 held ai 31 Morch 2024. Orgonisational Development This project wos completed In the finoncial yeor with no restricted f unds held at 31 Morch 2024. Poge 20
Docusign Envelope ID_. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolute Limited (A company limited by guorantee) Notes to the f inancial stotements for the year ended 31 March 2024 14. Stotement of funds (continued) Statement of fvnds- prior year Balonce al 31 Morch 2023 Bolonce ot l April 2022 Income Expenditure Unrestrlcted funds Designated funds Artistic Programme & Copoc'"ty Designoted funds Project Public Designated fund Research ond development fund 23,563 23.563 9.560 (9.560) (1,114) 30.000 28.886 63.125 (10,674) 52.449 Generol funds Generol Funds 61.329 6.477 (580) 67.226 Totol Unrestricted f unds 124,452 6,477 (11,254) 119.675 Restricted funds Humonislon Fund 56,200 2.586 (58.786) Orgonisotional Development Esmee Foirboirn Core Gront City Voices Others - Cov Opens Coventry City Council Art Progromme 8,853 8,855 46.500 (42,400) 13.000) (825) (14,666) 4.100 3.000 825 14,666 65.053 67.577 (119.677) 12.953 Total of funds 189.505 74.054 (130,931) 132.628 Poge 21
Docusign Envelope ID.. 33F13C3B.7FOA45F7-A087-65935AgEOCC3 Theatre Absolute Limited (A company limlted by guarantee) Notes to the financial stotements for the yeor ended 31 March 2024 15. Summary of funds Svmmary of funds- current year Balance ot I April 2023 Transfers Balance ot 31 in/ovt Morch 2024 Income Expenditure Designoted funds General funds 52.449 00.283) {7.104) (46.038) 42.166 67.226 2.483 Restricted funds 62.605 12.955 38.750 5.665 132,628 41.233 (65.425) 110.436 Svmmary of funds - prior year Balonce ot 31 Morch 2023 Bolance ot l April 2022 Income Expenditure Designated funds Generol funds 65,123 (10.674) (580) {119.677) 52,449 67,226 61.329 6.477 ftes:ricted funds 65,053 67.577 12.953 189.505 74,054 (130,931) 132.628 16. Analysis of net assets between funds Analysis of net ossets between funds - current period Unrestricted funds 2024 Restricted funds 2024 Totol funds 2024 Tangible fixed 055ets Current ossets 1.768 1.768 104 727 6,265 Creditors due within one year 110.992 (1,724) (600) (2,324) Total 104.771 5.665 110.436 Poge 22
Docusign Envelope ID-. 33F13C3B-7FOA45F7-A087-65935A9EOCC3 Theatre Absolvte Limited (A company limited by gvarontee) Notes to the financial stotements for the year ended 31 March 2024 16. Analysis of net ossets between funds (continued) Analysis of net assets between funds - prlor period Unrestricted f unds 2023 Restricted funds 2025 Total funds 2023 Current assets Creditors due within one yeor 121.439 20.053 141.492 (1.764) (7.100) (8.864) Totol 119.675 12,953 132.628 17. Reloted party tronsactions The compony hos not entered into ony relo:ed party transoctions during the year. nor ore there any outstanding bolonces owing between reloted porties ond the company ot 31 March 2024. Poge 23