Company registration number: 07126012 Charity registration number: 1134535
ICARUS THEATRE COLLECTIVE & CULTURAL SERVICES LTD TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
Accounting4Actors Ltd Suite LP61812 20 Wenlock Road London N1 7GU
Icarus Theatre Collective & Cultural Services Ltd Contents
| Page | |
|---|---|
| Trustees' Report | 1—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Comparative Statement of Financial Activities (including Income and Expenditure Account) | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8—12 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities (including Income and Expenditure Account) | 13 |
Icarus Theatre Collective & Cultural Services Ltd Company No. 07126012 Trustees' Report For The Year Ended 30 June 2025
The trustees present their report and the financial statements for the year ended 30 June 2025.
Change of Charity Name
On 30 June 2025 the charitable company changed its name from Icarus Theatre Collective to Icarus Theatre Collective & Cultural Services Ltd.
Objectives and Activities
Aims and Objectives
The charity's objects are specifically restricted to the following:
To advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.
Significant Activities
The Trustees note a further successful year in the furtherance of the Objectives and have made a full report to the Charity Commissionwhich can be viewed in the Commission's public record.
Public Benefit
The Trustees have made a full statement about public benefit to the Charity Commission and this can be viewed in the Commission's public record.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Financial Review
Financial Position
At year end, there was a surplus in the reserves of £467,428
Reserves Policy
Reserves will be held at the conclusion of every project to cover production costs on the next project. The charity's Reserves policy is presently subject to regular review by the Trustees.
Structure, Governance and Management
Governing Document
a. Governing Document: The charity is a company limited by guarantee governed by its Memorandum and Articles of Association as well as published Health and Safety, Child Protection, and other documents to protect the vulnerable. Anyone over the age of 18 can become a member and there are currently four members.
b. The Charity functions at our registered office as well as in schools and theatres across the UK and Ireland. c. Appointment of trustees: As set out in the Articles of Association, the chair of the trustees is nominated by vote of the trustees. Trustees are nominated by any members and elected by a vote of the Trustees at the AGM and serve for three years. All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM.
d. Trustee Induction and Training: New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Memorandum and Articles of Association, the business plan, and recent financial performance of the charity. During the induction day they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
e. Organisation: The board of trustees administers the Charity. The day-to-day running of the company is managed by:
- The Artistic Director, Max Lewendel who shapes the type of projects worked on, overseas all employment, approves possible avenues of funding, and makes all major financial decisions in consultation with the Trustees. 2. The Producer is responsible for administration, production management, and marketing in close liaison with the Artistic Director.
f. Accounting is managed by Max Lewendel and all financial documents are produced in accordance with applicable law and United Kingdom Accounting Standards.
Page 1
Icarus Theatre Collective & Cultural Services Ltd Trustees' Report (continued) For The Year Ended 30 June 2025
Reference and Administrative Details
Trustees
Mr Max Lewendel Mrs Michelle Lewendel Ms Sally Franks Mr Keith Gould Mr Daniel Schumann Ms Stella Pe Win
Company Secretary
Mr Max Lewendel Charity Number 1134535 Company Number 07126012
Registered Office
62 Gordon Road High Wycombe HP13 6ER
Independent Examiner
Jon Harris CIMA Accounting4Actors Ltd CIMA Suite LP61812 20 Wenlock Road London N1 7GU
Bankers
Virgin Money Plc Jubilee House Gosforth
Page 2
Icarus Theatre Collective & Cultural Services Ltd Trustees' Report (continued) For The Year Ended 30 June 2025
Statement of Trustees' Responsibilities
The trustees (most of whom are also the directors of Icarus Theatre Collective & Cultural Services Ltd for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Max Lewendel Trustee 10/11/2025
Page 3
Icarus Theatre Collective & Cultural Services Ltd Independent Examiner's Report to the Trustees of Icarus Theatre Collective & Cultural Services Ltd For The Year Ended 30 June 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.
Responsibilities and Basis of Report
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
==> picture [161 x 78] intentionally omitted <==
Jon Harris CIMA
10/11/2025 Suite LP61812 20 Wenlock Road London N1 7GU
Page 4
Icarus Theatre Collective & Cultural Services Ltd Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 30 June 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 EXPENDITURE ON: Raising funds 7 Charitable activities 7 NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17 |
Unrestricted funds £ 38,190 - 1,441 |
Restricted funds £ - 4,346 - |
2025 Total funds £ 38,190 4,346 1,441 |
2024 Total funds £ 30,872 88,204 12,319 |
|---|---|---|---|---|
| 39,631 | 4,346 | 43,977 | 131,395 | |
| - 8,646 |
- (19,587) |
- (10,941) |
(4,691) (24,968) |
|
| 8,646 | (19,587) | (10,941) | (29,659) | |
| 48,277 | (15,241) | 33,036 | 101,736 | |
| 48,277 279,872 |
(15,241) 154,520 |
33,036 434,392 |
101,736 332,656 |
|
| 328,149 | 139,279 | 467,428 | 434,392 |
The notes on pages 8 to 12 form part of these financial statements.
Page 5
Icarus Theatre Collective & Cultural Services Ltd Comparative Statement of Financial Activities (including Income and Expenditure Account)
For The Year Ended 30 June 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 EXPENDITURE ON: Raising funds 7 Charitable activities 7 NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17 |
Unrestricted funds £ 30,872 - 12,319 |
Restricted funds £ - 88,204 - |
2024 Total funds £ 30,872 88,204 12,319 |
|---|---|---|---|
| 43,191 | 88,204 | 131,395 | |
| (4,691) - |
- (24,968) |
(4,691) (24,968) |
|
| (4,691) | (24,968) | (29,659) | |
| 38,500 | 63,236 | 101,736 | |
| 38,500 241,372 |
63,236 91,284 |
101,736 332,656 |
|
| 279,872 | 154,520 | 434,392 |
The notes on pages 8 to 12 form part of these financial statements.
Page 6
Icarus Theatre Collective & Cultural Services Ltd Balance Sheet As At 30 June 2025
| Notes FIXED ASSETS Tangible Assets 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 14 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 15 NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 17 |
Unrestricted funds £ 32,498 |
Restricted funds £ - |
2025 Total funds £ 32,498 |
2024 Total funds £ 13,492 |
|---|---|---|---|---|
| 32,498 456,040 69,558 |
- 4,346 - |
32,498 460,386 69,558 |
13,492 440,874 104,452 |
|
| 525,598 - |
4,346 - |
529,944 - |
545,326 (401) |
|
| 525,598 | 4,346 | 529,944 | 544,925 | |
| 558,096 | 4,346 | 562,442 | 558,417 | |
| (95,014) | - | (95,014) | (124,025) | |
| 463,082 | 4,346 | 467,428 | 434,392 | |
| 139,279 328,149 |
154,520 279,872 |
|||
| 467,428 | 434,392 |
For the year ending 30 June 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Max Lewendel Trustee 10/11/2025
The notes on pages 8 to 12 form part of these financial statements.
Page 7
Icarus Theatre Collective & Cultural Services Ltd Notes to the Financial Statements For The Year Ended 30 June 2025
1. General Information
Icarus Theatre Collective & Cultural Services Ltd is a company limited by guarantee, incorporated in England & Wales, registered number 07126012 and registered charity number 1134535. The registered office is 62 Gordon Road, High Wycombe, HP13 6ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Incoming Resources
Donations, legacies, grants etc. are accounted for when due to the charity, where applicable, with their associated tax recoverable element. The Charity benefits from investment income. Production income is credited to the statement of financial activities for the period in which the related production takes place. Fees received in advance of future produtions are deferred. All other income is recognised when it is receivable.
No income is recorded net of expenses except where these are beyond the control or knowledge of the trustees.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT
2.3. Resources Expended
Resources expended are recognised in the period in which they are incurred except that production expenses are recognised in the period in which the production takes place. Governance costs are those necessary for the charity to meet constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance Motor Vehicles 20% reducing balance
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3. Income from Donations and Legacies
| Donations and gifts . Income from Charitable Activities Charitable activities |
2025 Unrestricted funds £ 38,190 |
2024 Unrestricted funds £ 30,872 |
|---|---|---|
| 2025 Restricted funds £ 4,346 |
2024 Restricted funds £ 88,204 |
4. Income from Charitable Activities
- Investment Income
Page 8
Icarus Theatre Collective & Cultural Services Ltd Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
| Interest from investments 6. Net Income/(Expenditure) The net income is stated after charging/(crediting): Depreciation of tangible fixed assets - owned 7. Analysis of Expenditure Charitable activities Raising funds Charitable activities 8. Support Costs Employee costs General administration Depreciation Interest payable Raising funds £ Employee costs - General administration - Depreciation 3,373 |
2025 Unrestricted funds £ 1,441 |
2024 Unrestricted funds £ 12,319 2024 £ 3,373 2025 Support costs (see note 8) £ 10,941 2024 Support costs (see note 8) £ 4,691 24,968 29,659 2025 Charitable activities £ 19,587 9,560 (19,006) 800 10,941 2024 Total £ 13,632 11,336 3,373 ...CONTINUED |
|---|---|---|
| 2025 £ - |
||
| Charitable activities £ 13,632 11,336 - |
Page 9
Icarus Theatre Collective & Cultural Services Ltd Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
| Interest payable Governance costs |
1,068 250 |
- - |
1,068 250 |
|---|---|---|---|
| 4,691 | 24,968 | 29,659 |
- Independent Examiner's Remuneration
| Independent examination of the financial statements Other assurance services Tax advisory services Other financial services 0. Staff Costs taff costs were as follows: Wages and salaries |
2025 £ 250 - - 1,048 1,298 2025 £ 19,587 |
2024 £ - - - - |
|---|---|---|
| - | ||
| 2024 £ 13,632 |
| 1 S |
0. Staff Costs taff costs were as follows: |
|---|---|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
11. Average Number of Employees
Average number of employees during the year was: 3 (2024: )
12. Tangible Assets
| Cost or Valuation As at 1 July 2024 Additions Revaluation As at 30 June 2025 Depreciation As at 1 July 2024 As at 30 June 2025 Net Book Value As at 30 June 2025 As at 1 July 2024 |
Plant & Machinery £ 26,000 10,000 6,511 |
Motor Vehicles £ 18,000 - 2,495 |
Total £ 44,000 10,000 9,006 |
|---|---|---|---|
| 42,511 | 20,495 | 63,006 | |
| 18,013 | 12,495 | 30,508 | |
| 18,013 | 12,495 | 30,508 | |
| 24,498 | 8,000 | 32,498 | |
| 7,987 | 5,505 | 13,492 |
Page 10
Icarus Theatre Collective & Cultural Services Ltd Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
13. Debtors
| 13. Debtors |
||
|---|---|---|
| Due within one year Trade debtors Amounts owed by group undertakings Due after more than one year Amounts owed by group undertakings 14. Creditors: Amounts Falling Due Within One Year Trade creditors 15. Creditors: Amounts Falling Due After More Than One Year Bank loans Other loans |
2025 £ 4,346 - 4,346 456,040 460,386 2025 £ - 2025 £ 34,014 61,000 95,014 |
2024 £ 8,282 432,592 |
| 440,874 - |
||
| 440,874 | ||
| 2024 £ 401 |
||
| 2024 £ 39,025 85,000 |
||
| 124,025 |
The Charity's Bounceback loan had a balance at the year-end of £34,014 (2024: £39,025).
The Charity holds debt investment of £61,000 from several investors which is due to be repaid in future years (2024: £85,000).
16. Loans
An analysis of the maturity of loans is given below:
| Amounts falling due between one and five years: Bank loans Other loans 17. Movement in Funds Unrestricted funds General: General unrestricted fund Restricted funds Restricted fund Total funds |
As at 1 July 2024 £ 279,872 154,520 |
Income £ 39,631 4,346 |
2025 £ 34,014 61,000 95,014 Expenditure £ 8,646 (19,587) |
2024 £ 39,025 85,000 |
|
|---|---|---|---|---|---|
| 124,025 | |||||
| As at 30 June 2025 £ 328,149 139,279 |
|||||
| 434,392 | 43,977 | (10,941) | 467,428 |
Page 11
Icarus Theatre Collective & Cultural Services Ltd Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
| Unrestricted funds General: General unrestricted fund Restricted funds Restricted fund Total funds |
As at 1 July 2023 £ 241,372 91,284 |
Income £ 43,191 88,204 |
Expenditure £ (4,691) (24,968) |
As at 30 June 2024 £ 279,872 154,520 |
|---|---|---|---|---|
| 332,656 | 131,395 | (29,659) | 434,392 |
18. Transactions with Trustees
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
| 2025 | 2024 |
|---|---|
| £ | £ |
19. Related Party Disclosures
The Charity wholly owns Icarus' Othello Ltd, a private company limited by shares. The Charity is a Person of Significant Control in relation to the subsidiary. The Charity made loans to the subsidiary in the furtherance of its objects which are governed by a loan agreement between the two companies. During the year the company made a loss of £35,381 after taxation was taken into account and had a net value of -£284,491. The Trustees expect that in due course the subsidiary will trade profitably and will make donations to it.
At 30 June 2025 the balance of Icarus' Othello Ltd's loan to the Charity was £456,040 (2024: £432,592).
20. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 12
Icarus Theatre Collective & Cultural Services Ltd Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 30 June 2025
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts Donations from individuals Charitable Activities: Charitable activities Grants Investments Interest from other current asset investments - unlisted EXPENDITURE ON: Raising funds Depreciation Bank interest payable Accountancy fees Charitable Activities: Charitable activities Wages and salaries Training seminars and workshops Sundry expenses Production costs Production costs B Surplus on revaluation of assets Other interest payable NET INCOME |
2025 Total funds £ - 38,190 |
2024 Total funds £ 30,872 - |
|---|---|---|
| 38,190 4,346 |
30,872 88,204 |
|
| 4,346 1,441 |
88,204 12,319 |
|
| 1,441 | 12,319 | |
| 43,977 - - - |
131,395 (3,373) (1,068) (250) |
|
| - (19,587) (1,900) (7,660) - - 19,006 (800) |
(4,691) (13,632) - (340) (750) (10,246) - - |
|
| (10,941) | (24,968) | |
| (10,941) | (29,659) | |
| 33,036 | 101,736 |
Page 13