Company number: 07287464 Charity number. 1144025 curfous dlrnctive (Llmltod by Guarants•) Group R•port and unaudlt•d Flnanclal Statements for the ygar onded 31 Mah 2024 Fordham Flnanco Group LTD Certmed Publoc Accountants 8640 Paul Streèt London EC2A 4NE AD1827PK 1811212024 COMPANIES HOUSE A35
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curlou• dlr8ctlv• (Llmlted by Guarnntse) Contents Reference and Administrative Detsils Dlrector l Tru8lees' Report Independent Examiners Report Statement of Flnancial Actlvltles (Includlng Incom8 and Expendlturn Account) 9-12 Balance Sheet 13 Cash Flow Statèment 14 Notes to the Financial Slatements 15-24
Constltullon The company is a private company limited by guarantee registered in EW - England and Wales, company number 07287464 and its governing document is its Memordndum and Articles of Association. The company is a reglstered charlty, number 1144025. DlrKtorn and trustees As set out in tJ)e Arts'cles of Association membership18 open to Indlviduals and organlsatlons who apply to the charity in the fomi required by Ihe directors and who are approved by the directors. The minimum numb8r of members is th. Policies and procedures adopted for Ihe induclion and trnining of trustees are ongoing and incorporated indirectly into the regular trustees meetings. The Trusleesldirectors during the year and since the year end, were: stephen Crnck•r Tbrnan Fitrglbbon Joana Gana Ollver H08ter Kumlko M•ndl qchalr) Pella Tzanova resigned as Chair 13 M8rch 2024 (6 y88nJ' seNice) appointed as Chair 13 March 2024 Arfl•llc Dlrethx and Chlof Execuuvo Jack Lowe Indop•nd•nt •xamln•rn Fordham Finance Group LTD Bankorn Barclays Bank, 5 - 7 Red Lion Street, Norwlch NR13QH. R•g18t•rod offlce and operatlon addre88 St Sitrth and St Jude Church, 49 Elm Hill, Norwich NR3 1 HG.
curlous dlrectlve (Llmlted by Guarantee) Trustees, Report The director and trustees present their annual report together with the financial Ststements of the charity for the period ending 31 March 2024 which are also prepared to net the quIreMents for a directors, report and accounts for Companies Act purposes. Tho reference and adrninistralive details set out on page I fomi part of this report. The financial statements comply wth Charities Act 2011. Ihe Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charits'es preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). curlou• dlrn¢tlv• - Prln¢lp•l a¢llvlty curious directive's principal aGtivty was the delivery of an annual programw* of theatre and science projects, with a particular focus expanding the local, nats.onal and intemational impact of the charity - based in a theatre- making space in central NoThvich. Since 2008, curious diTecb've's core mission has been lo create W0dClasS theatre exploring life through the lens of science. 'curious directive are at the top of their game, - Lyn Gardner. Tho Stsg• (2024) curlou8 dlrecllv•- our MIMlon curious direclive's misslon is to explore theatre through the lens of 8clence. curlous dlrncllvo- Our 6 core valu•8 Our core values have been iterats'vely discovered. They have emerged from decision-making within govemance, recruitrnent, rehearsal rooms and interaction wilh our communities. Our core values gulde us to make decislon8 wlth accuracy and Integrity. CURIOUSITY Curloslty is the hand that connects audiences to our work. Wthout curlo81ty, we are lost. CurIlty is at the epicenter of our organisab'on. Curloslty encapsulates the infinrte possibility of our work; a cullure of inquiry and exploration. Our organisational culture is founded on the search for (new) knowledge. and Science. the scients.fic rnethod, would also be lost without curiosity. 2 COLLABORATION Our theatre productions are created with large teams, over long peiiods of time. Our skills become interdependent. A collaboraove culture, which is highly cnmmunicative, honest and open, has given rise to our highly respected portfolio of theatre producttons and progommes of worf( spanning 15+ years. Our process start8 With a 'Science Club,, where we invite our community into our process from the very beginning. Science Club is a callingard for our collaborative culture and belief that rnany voices are rnore representalNe of an idea than one. 3 AUTHEKficiTY Every creation process at curious directive is different - it requires new approaches and skills, responding in a highly dynamic and inclusive way. offering up new sets of principles. However, it is vital to us that the people we work with are authentlc to themselves and their beliets. There is space for everyone and every moderate idea in our organisational culture. Our authentlc approach dlrectly links to our audien and our expectations of shared experien together.
4 GRAFT & CRAFT Our CEO has spent c.22.000 hours working inlonffor theatre, progressing curious directive, but also the value of theatre in 21" century society. Thinking deeply about why theatre matters tolay. We work hard. We wort( smarL th very Ile resour¢e, we must. Due to the new ground we seek to explore. there is an expectation. wilhin our organisational cutture. that graft will be needed to achieve our goals. New ideas feel risky to those who haven't lived through them. To others. like the people in our organisats'on who explore thern, new ideas feel vibrant and lif&affimiing. Interlocked with gra in rhyme and need. is crafL Theatrical shape. Structure. tone and rteration are splinterj of craft. Like collaborative sculptures. we pull away at our material, revealing a new beauty. S DIRECTIVE We define a dlrectlv• as an utterance. powerful as it is, that tells someone to do something. Dlr•ctlve is about delivering the ambition and quality of our work. A rigorous. inventive and high standard of delivery since 2008. Dlrectlve is also a founding principle. When we created the concept of our mission 'curious dlr•ctlv•', we were working With a neuroscientist who explained that the entire human brain, as far as we know, Can be defined by 'curiosity' and 'direth'on', or 'dlrectlv•'. It's what the human brain does, to absorb and then make meaning, lo achieve purpose in life. Our first core value 18 thernfore Curioslty, and our final value is Dlreellv•; curious directive is a dream. and an utterancé. 'curious directive are theatre pioneers, . The Telegraph curlous dlr8ctlv•- our Hypot11$ What? Everything we do within our programme engages and explores narratfve theatr8 can reveal the wonders of science. How? We work in ambitious. dynamic. and unexpected ways. We introduce audiences to science, theatre and new technology to build our communty. WI7 We always prioritise unheard voices within our ever*rowing cultural community. Where? We work across a spectrum frorn hyper-local to intematlonal - as part of an interconnected approach to our nats'on81 presence. Why? We believe science can help us all navigate 21 •1 ntury Ilfe- and that theatre is the besi way to communicate these ideas. curfou• dlr•ctlvg curlous dlrectlve Is the only theatre company In tho UK solely offerlng a year-round theatre programme exclusively focused on lenCe & society. Since 2008, curious dItive'S Core mission has been to create world- dass theatre exploring life through the lens of sclence. In 2023, we celebrated our 15th birthday paty wlth fomer, current and future collaborators - spannin9 freelance theatre-makers, funders, science instrtutions, audiences and mora. In 2023-24, with our flexible 417rn2 theatre-making space in Nolch. we have the engin8 room for our mission, explorlng lopics from astrophysics to zoology. Our productions have toured to 125 venues reaching 250,000+ audience members regionally, nats"onally, and internationally. Our 11 major produth'ons have received 17 awardslnominations {including Iwo Scotsman Fringe Firsts) with an international touring track-record across 11 countsies, including world-renowned contemporary theatre festivals; frorn Melboume to Hong Kong. Eight of our plays are published by Methuen, and our work is regularfy described as 'cutting-edge' andlor 'ground-breaking'. We Start all our productions with our fvture audiences, via our cornmunity4ed, Science Club model. Our work takes Norwich to the wortd. Our 2023-24 prograrnme of activity, summarised below. showcases our core programme of activity, which reaches 12,000+ people a¢ross the year.
In shaping our activities for the year. the t(ustees have considered the Charity Commission's guidance on public benefi( indudin9 the guidance 'Public Benefit Running a Chanty {PB2)'. curlou8 dir•ctivo- OUR 2023-24 CALENDER OF AcHIEVEMErS Our calendar of achievements exemplifies the diverse range of work curious directive delivern. In 2023-24, we delivered fKience inspired learnlng for ages 8-98- offering genuinely unlque ackn"vlties. APRIL 2023: Curious Cultures hands on, chemistry in Care Homes continued across Norfolk; from perfume making, natural ink rnaking to 3D printing. In partnership with Black Swan Care Group. Beneficiaries.. 230 mAYULy 2023: Gastronomlc. a revival about Gastrophysics. ran for 7 weeks in our Main House theatre in Norwich. We extended the run of the show twice - wtth a total of 47 performancm. breaking the record for the longest professionally running show in Norwich. A team of 16 delivered the show across Front of House, acb'ng company. creative team and culinary team, delivering the 7<ourse tasting menu which fomis the central drive of the narrative. B•n•fftlarlo•: 4,890 AUGUST 2023: Botanical Garden Bar & Kitchen ran all summer in the garden via an 'Events based model, We independently managed the enterprise, focusing on local produce, great food, and storytelling. 8•n•ficlarlM.' 3,300 SEPTEMBER 2023: Following on frorn our highty successful 'An Introduction to Water Wars, Science Club in 2022, we delivered a week4ong Research and Development at the National Theatre in London for our new show BLACK SHEEP. We also celebrated our 15th Birthday Party in our garden in Norwith, and at New Diorarna Theatre in London. B•n•ftlarl•8: 40 OCTOBER 2023: curious directive was in residence at the Hopkins Center for the Arts in USA, touring our show FROGMAN and developing a new production for 2026. Beneficlarlo•: 2.450 NOVEMBER 2023: curlous dlrectlve began worf( on a new Sclence. Art and Technology festival by launching our first 'Tomorrow'8 World, event. We also toured our show DECIPHERING to three Norfolk schoo18 acros8 King's Lynn. Norwich and Great YaMUth. Beneficlarle8: 300 DECEMBER 2023: Our annual theatre wothshops in the communty included working wlth local asylumlrefugee charities. Care Homes and St Martin's Housing Trust sharing and building participanfs interest in ScAence. Ben•flclarfes: 30 JANUARY 2024: The second year of our three, week-kjng residencies called HYPOTHESIS retreats for three independent theatre companies. We offered £1,000 grants, industry training surgeries and space to dream. Our 2023-24 companies were KlangHaus, In Bed with My 8mtherand Emma and PJ. Beneficiarios: 35 FEBRUARY 2024: Science Club. a night out in science. Intriguing afeas of science were infonnally shared by a research scientist wth a Pizza, Pint (or non-alcoholic drink) - for £10. 2024 topics were 'An Introducts"on to
Omithology, with the RSPB & 'An Introduction to Exoplanets, with Prof. Ruth Angus from New York Museum of Natural History, cfrhosted wilh Cty of London Sinfonia. 8enefieiarles: 830 MARCH 2024: Rehearsals began for the premiere of our show BLACK SHEEP. 8en•llclarl•s: 40 (ahead of public performan¢xs in April 24, as part of 24-25 financial year.) Totsl boneficlarles 2023-24: 12,145 Total aUdIen Idlgltall 2023-24: 76,000 (44.000 webpage views) SOCIAL MEDIA FOLLOWING We post regularty about our athlkn'es, partbcularfy in Nomlch. Inslagram: 2,300 followers X: curious directive took the decision to pause posting on 'X' during the 23-24 financial year. We werè one of Ihe very first to do so. The values of X have increasingly becoTh misaligned with our core values- as outlined above. ENVIRONMENTAL RESPONSIBILITY curious directive has continued ts sector-leading work in pursuit of net zero. Our creation space became a Julie's Bicycle 4" rated building led by our CEO who himself holds an Msc In Environmental Science. Our wo engage8 with the Theatre Green Book but also works to explore the gaps in the top4lown thinking offered from this approach. Our accredrtatK>ns Include Cart)on Charter accreditation and our historical Capital Works have induded installing air-source heat pumps and purchasing (and now hiring out) our electric van. We have therefore supported our Environmental Policy with a clear, delivered action plan. The inclusion of environmental themes within the work itseff is also cornmendable. In 23-24 we have been working directly with fam)ers, who are at the razor4dge of climate change in England. There's hardly a group more in need of amplification when tt comes to these tOPiC8. We have a180 provided, inthind, consultancy to NPOS, In need of Some creativity and guldance in the exploration of the8e toplc8 and them88. POLICIES We review our Policies at our AGM. These FKJlicies provide us wilh operalional documents for a robust delivery of our programme. They lower risk for all involved In dellverlng our Charitable a1vIties. Policies for the 2023124 year include (revlewed at AGM).. 1. Piivacy Policy. 2. HR Policy (Disciplinary and Grievance Procedure). 3. Digrtal Policy and Acts'on Plan. 4. Sexual Harassment - Code of Behaviour. 5. Environmentsl Policy and Action Plan. 6. Safeguarding Code and Practice. 7. Health and S8fety Policy for all freelancers. 8. Creative Case for Dpiersity and Equalities Action Plan. 9. Updated Reserves Policy. 10. Data Collection Policy (intemal). 11. Dignity and Respect at Work Policy. 12. Recruitment Policy. 13. Training and Development Pollcy. 14. Procurement Method Ststement. 15. Matemity I Paternity I Shared Parental Leave Policy.
FINANCIAL REVIEW As of 31 March 24, curious directive holds £60.000 in cash reseNe (designated funds). This amounts to just under 9 months of Core operatr'ng costs. This figure of £60,000 'designated funds, has been accumilated from significant intemational activity and made possible by diligent and shrewd financial management from our founder and CEO, Jack Lowe. Our core fvnder5 (locally and nationally) underpin our signfficant core activty. 'CORE' FUNDING The 23-24 annual charitable actsvity is financialty 'core'4UPPOrted by local authorities (Norwich Cty Council and Norfolk County Council) . as well as by Norwich Ffeeman's Chanty, Garfield Weston Foundation & The Fenton Arts Trust. This is a significant addition to curious directive's fundr8i8ing achieveThnts. This adjustment has been vitsl as curious directive was, between 2018-23, an Arts Council England National Portfolio {NPO). Whilst our NPO grant was a rrndest £91,471fyear during that tenure (and only around 20% tumover). the continuation and flourishing of curious directive's programme of work, poStP0. in this 23-24 year, cannot be underestimated. Ouractivities conb'nue to align with the Core strategy of Arts Council England's 10-year Strategy. 'Let's Create,, as evidenced by the onoing support for the company via the National Lottery Project Grants nding stream. The Trustees note that CUriOU8 directive is unique in the England art8 8ector as one of very few remaining independent professional theatre companl8s who have weathered three fvnding landscapes wilh Arts Council England- all with diverse challenges. (1) 2008-2017 supported solely via NLPG; (2) 2018-2023 via NPO and {3) 23-24 again as NLPG. Since 2008, the accrued eXperiere of governance, leadership and delivery- knowledge has enabled curious directive to flourish, despite the challenging circumstances. The charities, dynamism cannot be underestimated or ernphasised enough. The trustees note how ACE have lost a regional beacon; an independent theatre company wth distinct and notable integrity, and much respected across the cultural sector and with our audiences. The trustees also note the peculiar situation that the onoing support for curious directive from ACE is almost at the same levels of investment as when the charity was an NPO. The ally8hip is clearfy there in both directions between curious directive and ACE. In the fvture, there will be more opportunities for curious directive to support ACE in their evolving vision for 'LeVs Create.. Equally, ACE will have the opportunity lo offer security to curious directive, one of Ihe East of England's leading lights in theatre - and we look loard to a continued forenslc analysis of Ihls In due cour8e. TURNOVER The trustees note that, given our previous S years, turnover have been supported by core ACE ndlftg, it is tremendous feat to deliver a turnover approaching £400,000. This is, in part, due to the phenomenal success of our revival produGtion of Gastronornic, playing for 47 sold-out shows in Nolch. This production. from an initial investment of £30,000 from ACE in 2018-19, has now turned over £380.000 in arts incomelexpenditure. There Is a similar story across numerous curious directive productions sinrA 2008. This ob8erv8tbon evidences how ACE'S seed-support for curious directive Can generate significanl arb'sts'c and financial benefits in retum. In 23- 24, not only did this secure our year of activity. but the susS of Gastronomic also dearfy eVenceS the pride held in the company by our rnmmunitylaudiences across Nomich, Norfolk and Iwond. Customers were willing to go to the theatre to support curious directive specificalty - in a landscape too often painted as difficult and challenging. FINANCIAL CONTROLS Financial management is cleaty defined at operattonal and board level. Global budgets {core and projects) are set and approved by the Board in the Q4 Board meets'ng. Our finance sU¢0MMittee interrogates Management Accounts quarterly and delNer reports for each board ff*ting. Our CEO works closety with freelance Book keeper, Kate Sarfey, to interrogate our position. STRUCTURE, GOVERNANCE AND MANAGEhlENT The charity is a company limrted by guarantee.
The charity has a Chair and a futher four Trustees who follow our Articles of Association as our governance document (updated in 2020). Recruitment of Tfustees takes place after open discussion between the CEO and the Board of Trustees during quarterty Board meetings following an annual skills audit. An Open Call then is published across diverse online media channels. The process of recruitment begins with an initial approach to an individual who has applied, followed by an infomal meeting (R1) with the CEO and iwo Trustees, followed by further meeting with the CEO again and a different Trustee (R2). Finally, on the offer of a place as a Trustee, candidales are invited to observe a Board rneeting. The appointment is then put to a vote in the Board meeting, followed by a signature and a number of documents shared with the new Board member including numerous 'Welcome' packs, previous papers and training (where required). The trustees are delighted to take this opportunity lo thank our out4Joing Chair, Stephen Crocker, for his selfless and robust dedication to curious direclive's mission since 2018. Stephen helped steer curious directive through the tremendously the difficult times of Covid-19, eno)uraging the leadership to continue lo think In new, entrepreneurial ways. A heartfelt thanks to Stephen. We also welcome Kumiko Mendl, who steps up as Chair of curlous directive. Kumiko has served on the Board of curious directive for a number of years. She has previously been ADICEO of New Earth Theat. As such. her welcome guidance to Jack, also an ADICEO, has offered new perspectives on the delivery of our charitsble aims. There have been robust and exhilaratr'ng discussions around re-igniting our touring practice {funding dependent). continuing to celebrate our cornrnunity4riven creation process and much more. Jack Lowe and Kumiko Mendl look fowrd to a visionary chapter together as they explore fvture programmes and Twstses. RISK MANAGEMENT A 'Risk Registerf document has been proposed and installed by our new Chair, Kumiko Mendl. Our board of Trustees conslders all our activty through this thoughtlul and pracb'cal lens. Thls Is an Intemal document whlch, linked with our CA)re values, helps us navigate all aspects of the charity. CAPACITY As of 31 March 2024. our leadership team has been reduced to 1.5fte for 18 months. Origlnally instlgated to ensure a robust, but slimline delivery team, it is noted by the Trustees how the CEO is now joined, as of February 2023, across all programmes, by a freelance Assistant Producer, Molly Farley. Molly has been provided with an excellent developmental pathway. Molly is an emerging, NoN4ich*ased theatre producer. As such, curious directive. yet again. is a training ground for future arts leaders. The trustees note, as an example, the rise of independent producer Francesca Moody. who was an Executive Producer for curious directs've across two financial years and rernains a friend of th? company, as she excels with her new company. The trustees also note the achievements of Natalie Songer, with the cornpany for over three years, who now works as a Senior Manager in another leading arts instituts'on in Norwich. Aspirations to grow the capacity of the company to a level of 4.ofte are in the pipeline. This increase in capacity does not repsent a desire to inCSe overall activity, but rather to provide a more sustainable framewort( and free up our CEO to focus on future-thinkn'ng ahead of our 20th year. SMALL COMPANY EXEMPTIONS This report is prepared in accordance with the provlsions of the Companles Act 2006 relating to small companies. This report was approved by the Board of Trustees on 11.12.2024 and slgned on their behalf by Kumiko Mendl Chair, curious directive
Independent Examinerf8 Report I report to the trustees on my examination of the financial statements of ajrious directive. (the company,) for the year ended 31 March 2024, which are set out on pages 2 to 14. Respon8lbilltles and ba816 of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requireménts of the Companies Act 2006 ('the 2006 Acr). Having satisfied myself that the financral statements 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 Acr). In carrying out my examination I have followed the Directions given by the Charity Cornmission under sects'on 145 (5)(b) of the 2011 ACL An independent exarnination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequentty. l express no opinion as to whether the financial statements present a 'tnJe and fair vie and my report is limited to those specific matters set out in the independent examinerfs stalement. Ind•p•nd•nt •xamln•r'8 8tat•m•nt Slnce the consolidated gross income did not exceed £250,000 your examiner does not need to bè a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination becau8e l am a member of the Certified Public Accountants AssocAtion, which is one of the listed bodies. I have completed my examination. I nfirni that no material matters have come to my attention in connection with the examIn10n giving me reasonable ¢ause to believe that in any material respect: accounts'ng records We not kept in respect of the company as required by Seclion 386 of the 2008 Act; or 2. the financial Statements do not accord with those records; or 3. the financlal statements do not comply wlth the accountlng requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'tme and fair view, which is not a matter considered as part of an independent examination,. or 4. the financial statements have not been prepared in accordance with tho methods and principle8 of the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to charits'es preparing their financial statements in accordance with the Financial Reporting Stsndard applicable In the UK and Ireland (FRS 102). I have no concems and have come across no other rnatters in conne10n with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial staternents to be reached. Signed: Jhfr Name: James Fordham Name of applicable listed body: Certified Public Accountsnys Association (CPAA) ON BEHALF OF Fordham Finance Group LTD Address: 86-90 Paul Street London. EC2A 4NE Date: 1511212024
curl0 dlrnctlv• ILlmlt•d by 01ntI•l Un•udll•d Con•olld•t•d St•t•m•nt olFlnanclal A¢tl¥ltl Iln¢ludlrng In¢om• •nd Exp•ndltur• Au) forth• y••r •nd•d 31 March 2024 Unl••61•d A••&d fvndl lund• Non4h•rflabl• •¥Totsi tr4dlng •ub•ilb•ry Chr fund• Chw lrt¢•m••nd •ndOwm•nt•frn. Don•tkin•, gr•nts wdWc4•1- pty• 11 220,261 10,820 231.071 231,071 135,&34 29,466 184, Th•atr•. po98 11 Trading Acthttl InlIMentS Olh•r. TfR e8,914 50.914 se.914 22.345 67,421 67.421 ooo 57.578 57.578 67.378 Totsl 335,403 10020 346.223 22,34S 308,508 230,491 29,456 264.883 xwndltyr• •n', Th•alre. pago 12 Tr•Llng Advtt 27S,241 19,189 295.210 295.210 170,087 219,38S 18,578 16.67e Tollll 276.241 I9,9 ,210 18,578 311.78e 170,087 49.298 21è,38S N•tlnGtyn•l l•xp•rdllur•l Tr•rrfl•v•b¢ort1Un eo.f62 ,14 S1,013 58,782 85,410 119,8421 46,6e8 tffiow•m•nl In knth.. aQ.182 <9,149) S1,013 66.782 85.410 119,842) R•IKINItIon olfunth.. Totsl furrfll broughtlorv 152.613 22,066 174,$88 3228 177,793 87.103 41097 129,OCal Total fund•Garrt•d forwwd 212,675 12,9C6 225, 234,575 152,513 22,055 174,S68 Th• tht•nnl olllnBndil In{11 •llyln• t•c4wW In th•>wr. Mllrwm• and •XF•rath dwK•*¢m ••lU
¢urlou• dlr•ctfvo (Llmltod by Guaranteo Unaudited Consolldated Statement of Flnancial Activities (Including Income and Expenditure Account) for the year ended 31 March 2024 2023 Char Charfty Incom• from donatlom. grants and l•gacl•• Grants ACE NLPG fvnding Other grantpJfunding 76,229 91,471 154,842 231,071 73,519 164,990 Totsl Income from charttable actlvttl Th•atr• Theatr• Incom• and project 8pKlfic fundong Box officelfeeslguarantee8 SSSJ eamed Income Other income 39,560 1,500 15,854 56,914 83,060 981 Total 67,421 10
curlou8 dlrecllvo ILlmltod by Guarantee) Unaudited Consolldated Statement of Flnanclal Actlvltles (including Income and Expenditure Account) for the year ended 31 March 2024 2024 Charfty 2023 Charlty Expendlturn on charftable acUvld•• Theatre Producllon costs Salaries 40,000 59,822 39,166 68,255 19,548 12,458 7.553 Social security ¢ts Pension costs Production $ts sssJ TraveVaccommodation18ub8isler mafketinglpromb.on ProduGtion researchldeveloprrent 1,013 37,897 39,216 23,891 3,903 125 18,270 37,078 4,631 535 411 249,297 170,183 Support costs - page 13 Governance costs - p8ge 13 43,031 46,228 2,978 295,210 219,385 11
curi¢> dlroctive IUmlt•d by Guarantee) Unaudlted Consolidated Statement of Financlal Actlvttles (includlng Income and Expenditure Account) for the year ended 31 March 2024 2023 Charfty Support and govornance Support Costs offi ovarh•ad• Telephonefintemet Insurancè Repairslmaintenance Depreciation of production equipment Depreciation of fixtureslfjttingslequipment Depreciation of vehicle8 774 5,577 2,888 7,500 12,196 2,145 7,500 12,196 2,145 29,204 31,137 Admlnlstrallon coots 5.163 4,253 Trainingldevelopment Trdvevtrdnsport ComputerllT costs PrSnting1pc*tagelstatiery Advertising Subscriptionsllicences Sundries 1,133 723 2,581 234 1,031 1,112 1,022 250 9,704 8,528 ProfeI0n41fflNnClal Bookkeepinglaccountancy softwarn Bank charges 3.591 532 5,270 1.291 4,123 6,561 43.031 46.226 Gov•rnanc• c¢ Legallprofessional AOUnncY1cOnSultancY 74 2,808 2,568 2,882 2,976 45,913 49,202 12
curlou8 dlrectlve ILlmfted by Guarante8) Reglstration number 07287464 Unaudited group and charty balance sheet at 31 March 2024 Group 2024 Charlty 2024 Charity 2023 Flxed •8¥0ts Tangible assets 39,433 39.433 61,275 Totsl flxod a68ets 39,433 39,433 61,275 Curr•nt a888ts Debtor8 Cash at bank and in hand 10 141,734 110,170 141,436 110,170 63,597 76,526 Total eurrnnt a88•ts 251,904 251,606 140,123 Credltorn: amounts falllng du• wlthln om y•ar 11 (56,763) (65,459) {26,830) N•t curr•nt amots 195,140 188,147 113.293 Credltorn: amounts falllng du• After mor• than one year 12 Total n•t a8B•ts 234,575 225,580 174,568 Th• fund• of th• charlty Unrestrlcted funds General fund Designated fund Non<haritable tradlng subsldlary R08tr1cted funds 15 152.675 60,000 8,994 12,906 152.675 60,000 101.513 51,000 16 12,906 22.055 Tolal fund• 234,575 225,580 174,588 For the year ending 31 March 2024 the company was entitled to eX8mption from audlt under seth'on 477 of the Cornpanies Act 2006 relating to small companies. No members have required the charitable cnmpany to obtain an audit of its accounls for the year in question in accordance with section 476 of the Companies Acl 2006. However, in accordance wilh section 145 of the Chaiities Act 2011 the accounls have been examined by an independent examiner whose report appears on page 9. The Trustees acknowledge their responsibility for complying wth the requirements of the Act with regard to accounts'ng records and for the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small cornpanies, regime. The unaudited financial statements on pages 10-24 were approved and authorized for issue by the trustees on 11112 12024. (Cau Kumiko Mondl Chalr The notes on pages 15 to 24 fomi an inlegrnlpartof these financialstatements. 13
CUriOU8 dlr¢clive (Limited by Guarantse) Charlty Cash Flow Statement for tho year ended 31 March ¥J24 2024 2023 Cash flow8 from oporallng acllvltle8 19 (5,560) 18,310 Cash flow8 from Invesllng actlvltle8: DivKlends, InteSt and rents from investments 660 Purchase of property, plant and equiprnent Net cash provlded by Inv•8tm•nt a¢tlvlll•8 Change in cash at bank and in hand in the reportlng perlod 33,844 73,451 Cash at bank and in hand at the beglnnlng of the reporting pertod Cash at bank and in hand at the end of the reporting period 78,526 3.075 110,170 76,526 14
curlous dlrectfve (Llmfted by Guarantee Notes to the Financlal Statements for tho year ended 31 March 2024 AccountAng pollclo5 1.1. Basls of preparing the flnanclal statements The financial statements have been ppared in accordance with Accounting and Reporting by Charfts'es". Statement of Recommended Practice (issued October 2019) applicable to charits'es preparing their accounts in aCrdance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019) - (Charilies SORP {FRS 102)), and the Companies Act 201A. The chaiity meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheMi88 ststed in the relevant accounting policy notes. 1.2. Preparatlon of th• accounts on a golng concern ba81$. The company is dependent on the CAintinued support of grant aiding bodies. The tNstees believe that the company will continue to receive this support and aGcordingty consider that it is appropriate to prepare the financial seffts on the going concem basis. 1.3. Incomlng re8ource8 All incorning resources are induded In the statent of Flnancial Activitie8 when: - the charity is legally entitled to the funds - any perfomiance conditions attached to the incorne have been met or are fully within the control of the charity - there is sufficient certainty that receipt of the income is conSered probable - the amunt can be reliably measured - Donatlon• and legacl Grantsldonations are recognised In incoming resources in the year in which they aR receNable, except as follows: -when donors specify that grantsldonations given to the charity must be used in future accounting periods. the income is deferred until those peiiods. - when donors impose condth'ons which have to be fulfllled before the charlty becomes entftled to use such income, the incorne is deferred and not included in incoming resources unb'l the preconditions for use are met. - Charltable actlvltles Theatre income - income from Ix)x office. perfomiance fees arKI sundry other theatrical income is Included in incoming resour5 in the period in which the relevant show takes place. Project speclfic fundlng - when donors specify that donations and grants are for parts'cular restricted purposes. which do not amount to pre<onditions regardin9 entitlernnc this income 18 included in incoming resources of restricted funds when receivable. 15
curlous dlr8ctfv• {Limit•d ty Guarant•è) Notss to the Flnanclal Ststem•nts for the year end¢d 31 March 20 - Donated 8orvlce8 and facilitlo8 Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been me( the receipt of economic benefit fr¢)m the use by the charity of the item is probable and Ihat economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the arnount the tharity would have been willing to pay to obtain seNices or frdcililies of equivale economic benefit on the open market., a corresponding arnount 18 then recognlsed in expenditure in Ihe period of receipt. - InvlMent Income Interest on funds held on deposit is included when re1vable and the amount can be asured reliably by the charity., this is normally upon notification of the interest paid or payable by the Bank IA. Rosourcm •xpnd•d All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when: - there is a legal or constwctlve obligatlon to make a payment it is probable Ihat Settlemenl will be required - the amount of the obligakn'on can be measured reliabty - Costs of ral•lng lund• Costs incurred in attracting donations, and those incurred in trading act•vilies that raise funds. Charltablo actlvltleB Theatre production costs - costs incurred in production and running of productions loured in the year. . 8upport co•ts The administrative and overhead costs associated wlth Nnnlng the offlce from whth the company operates as well as govemance costs. Support are wholly attn'butable to theatre produth'on costs. . Governance costs Costs associated with the constitutional and statutory requ1reThnts of the charity. 1.5. Fund accountlng Funds held by the Charity are either. unstn'Cted general funds - these are funds which can be used in accordance with the charitsble objects at the discretion of the trustees. - Restricted funds - these are funds Ihat can onty be used for particular restricted purposes within the objects of the charity. Restrictions arise when specffied by the donor or when funds are raised for particular restricted purposes. Further explanatlon of the nature and purpose of each fvnd is included in the notes lo the financlal stalem8nts. 1.6. Ponslons The company operates a defined contribution scheme for Ihe beneffts of ts employee5. contributions are recognised as expenditure when due. 16
curlous dlreclfve ILlmtted by Guarnntee) Notes to the Flnanclal Statements for the year ended 31 March 2024 1.7. Tanglble fix assots and depreciatlon Individual fixed af•sets costing £300 or more are capitalised at cosL . Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life. as follows: Plant and machinery Flxtureslfittlngslequipment Motor vehicl88 5 years straight line 5 years straight line 8 years straight line 1.8. D•biors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayrrents are valued at the amount prepaid after taking account of and trade discounts.due. 1.9. Cash at bank and In hand Cash at bank and in hand includes cash and short term highly IUld inveslments with:a short matunty of the months or less from the date of acquisition or opening of,the.deposit or similar'accounL 1.10. Credltorn and provl8lon8 Creditors and provisions are reojgnised where the charfty. has 8 present'obligation resultlng from past event that will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or esttmated reliably. Creditorsond ptovisions are nomially recognised at their settlement amount after allowing for any trade discounts due. 1.11. Flnanclal In8trum•nts The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are inrtially recognised at transaction value, and subsequent measufed at their settlement value. 1.12. 8lgnlll¢ant Accountlng E8tlmatM and Judg•m•nts In determining the carrying amounts of certain assets and liabilits'es, the charity makes assumptions ol the effects of uncertain fvture events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experien¢& and expectation of future events and are reviewed annually. Incomlng re8ourc•s The total incoming resources for the year have been derived frorn the principal activity undertaken wholly in the UK. 17
curlous dlrectlv• (Llmlted by Guarantee Notes to the Financial Statements for tho year ended 31 March 2024 Other Income Theatre Tax Relief (rrR) 57,578 Net incom(exP8ndltur8j for th• year Is stst•d aft•r charylng: 2024 2023 Depreciation of tangible fixed assets Independent Examiners, remuneration - independent examinab'on - other seTvices 21,842 21,842 1,200 1,200 Ttu•t•M' •molum•nts and r•lmbur8ed •xp•Mo0 The trustees received no remuneration during the year (2023- £nil). The aggregated amount reimbursed to trustees during the year was £nil (2023- £nil). 18
curious directive (Umttod by Guaranle•) Notss to the Flnanclal Statements for the year ended 31 March 2024 Staff costs and nufflbers 2024 Stsff costs Salaries and wages Social security c#)sts Pension costs 99,822 4,264 1,013 87,803 7.553 1.446 105,099 96,902 No employee eamed £60,000 or more during the year (2023 - nil). The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee beneffts of the key managemenl personnel of the charity were £35.000 {2023 - £35.000). Staff numb•r8 The average numbera of employees (including casual and part tirne staffj during the year was made up as fo11tr. Numb•r Numb•r Core {Fte) Penslon costs The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent rnanagers. The pension charge represents contributs.ons due from the company and amounted to £1,013 (2023 - £1,446). Taxallon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 19
curlou8 dlMctlv• (Umlted by Guarantse) Not•8 to th• Flnanclal Statements for the year ended 31 March 2024 Flxed assets - tanglble assets Flxtur681 Producllon Mngsl •qulpment oqulpmont Motor v•hlclo8 Total 1 April 2023 Addits'cs 37,504 66,288 17,163 120,955 31 March 2024 37,504 68,288 17,163 120,955 Depreclaiion l April 2023 Charge for year 31 March 2024 24.656 7,500 28,588 12,196 6,436 2,145 59.680 21,841 32,158 40,784 8,582 81,522 N•t book values 31 March 2024 5,348 25,504 8.582 39,433 31 March 2023 12,848 37,700 10,727 61,272 10. Dobtorn 2023 Trade debtors Other debtors Prepayments and accrued income 1,143 7,047 55,407 24,299 117.137 141,438 63,597 11. Cr•dltorn: amounts fJlllng due Wlthln on• year 2024 2023 Trade creditors Othertaxationlsocial security Other creditors Loans to related parties ruals Deferred income (note 13) 28.806 13,917 10,621 4,119 4,902 1,110 4,584 12,115 12,115 65,459 26.830 20
curlous dlr•cllve ILlmlted by Guarantse) Notes to the Flnanclal Statements for the year ended 31 March 2024 12. Cr•dltors: amounts falllng due aft•r morn than one year 2023 11 Deferred income Balance at 1 Aprll 2023 Amunt deferred In Ihe year Balance at 31 March 2024 Deferred income relates theatre income recelved in advance. 1& Llmltod by guarnnteè The private limited company is registered in EW- England & Wales, is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £10, 10 the cornpany Should it be wound up. At 31 Mar¢h 2024 theR were 7 merntse. 16. Unrestrlcted fund8 Brought foThvard Income Expendrture Transfers Carried FOrd General fvnd 101,513 51,000 335,403 275,241 {9,000) 9,000 152.675 D88lgnated Fund 60,000 Total 152.513 335.403 275,241 212.675 21
curlous dlr•ctlv• ILlmlted by Guarantee) Notss to the Flnanclal Statements for the y•ar ended 31 March 2024 16. Restrlcted funds Brought Foard Income Expenditure caled Foard Flxed Asset8 Fenton Art Feudal R&D Gastronomic 20,055 7,149 3,000 7,820 12,908 3,000 7,820 Flx•d a•8ot8 This fund consists of grantsldonations received specifically for the purchase of fixed assets. The funds are transferred to the general fund over the expected useful life of the assets. The balance at 31 March 2024 is attributable to: PrOdtiOn equipment 12.908 12,906 F•nton Art Tru•t Funds received t¢)wards Hypothesis retreats. Ga•tronomlc Fund8 received towards wothshops with asylum seekers & refugees.
curlouB dlr•ctlve ILlmltod by Grantee) Notss to the Flnanclal Statemelrts for the year end•d 31 March 2024 17. Analy81s d net a880ts b•twwn lund8 Unrestricted Funds Restricted Funds Charity 2024 Tangible Fixed Assets Net Currenl Assets Long Tenn Liabilities 26,527 188,148 12,906 39.433 186,148 212 675 23
curlou8 dlrec (Limfted by Guarantee Notes to the Flnanclal Statsments for the year ended 31 March 2024 18. Related party transactlons During the year, the Charity operated trading aclivities through a wholty Q•vned subsidiary (CURIOUS DIRECTIVE ENTERPRISES LTD Company number 14098239). Al the end of the Pe0d the charity ed its subsidiary £4.584 as an Interest free loan repayable on dernand 19. R•conclllatlon of not Incom(0XPend1IUy•) to net ca8hllow from oporallng actlvlt508 2024 2023 Net incomel(expenditure) for the reporting period (as per Ihe stateffont of financial activities) Depreciation Dlvidends, interesl and rents from Investrrngnts {Increaseydecrease in debto Increasel(decrease} in credito (6,566) 11.455 (20,261) (660) (77,839) 38,629 (21,842) (3) 76,584 (36,429) Net cash Infiow from op•ratlng actlvhl•• 24