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 ExamIne￿S 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.. 33Fl3C3￿7FOA4SF7-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