Company number 07287464 Charity number 1144025 ¢urlous dlro¢tlvo {Llmltsd by Guaranioo) Group R•port and Uiiaudlted Flnanclal Statements for the Year End•d 31 IAarch 2025 Fordham Flnanc• Group LTD Certifled Publlc Accountants 86-90 Paul Street London EC2A 4NE 'AEGCD3fv1A* 2911112025 COMPANIES HOUSE A10
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curlous dlrectlve (Llmlted by Guaranteo) Contents Page Reference and Administrative Details Director l Trustees, Report Independent Examlnerfs Report ststement of Financial Activities (including Income and Expenditure Account) 8-11 Balanc8 Sheet 12 Cash Flow Ststement 13 Notes to the Financial Statements 14-21
Reference and Admlnlstratlve Detalls curlous dlrectlvo (Llmlted by Guarantse) Constitutlon The company is a private company limited by guarantee registered in EW - England and Wales, company number 07287464 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1144025. Dlrectors and trustees As set out in the Articles of Assoclatlon membershlp Is open to indivlduals and organisations who apply to the charity in the form required by the directors and who are approved by the directors. The minimum number of members is three. Policies and prOdureS adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees, meetings. The Trusteesldlrectors during the year and slnce the year end were: Stephen Crock•r Tlornan Fltzglbbon Joana Gana Ollver Hest•r Kumlko Mendl {Chalr) Potla Tzanova resigned as Chair 13 March 2025 (6 years, seNlce) appointed as Chair 13 March 2025 Artlstlc Dlrector and Chlof Executlv• Jack Lowe Indepondent oxamlnern Fordham Finan Group LTD Bankers Barclays Bank, 5 - 7 Red Lion Street, Norwich NR13QH. R•glstered offlce and operatlon address St Simon and St Jude Church, 49 Elm Hill. Norwlch NR3 1HG
Director l Trustees, Report The director and trustees present their annual report together with the financial statements of the charity for the period ending 31 March 2025 which are also prepared to meet the requirements for a directors, report and accounls for Companies Act purposes. curlous dlrective - Prfn¢lpal activity The principal activity of the charitylcompany was the delivery of an annual programme of theatre and science projects, with a parb'cular focus expanding the local, national and intemational impact of the charity- based in a theatre-making space in central NoDNiCh. The company aotivity Is CA)r&.supportod locally by Norwlch City Councll, Norfoll( County Council and Norwich contr011datcd Charits'es. Further national core grants from Garfield Weston foundation & The Fenton Arts Trust support the activities nationally. 'curious directive are at the top of its garne, Lyn Gardner, The Stage (2024) curlous dlrectbve - our Mlsslon curious directive's misslon is to explore theatre through the lens of science. curfous dlrOGtlv• - Our 5 core values Our COTe values drive everything we do, guiding curious directive's decision maklng. Our core values help us chart a direction of travel with as much accuracy as possible. CURIOUSITY Curiosity is embedded within the very narne of the company. The question 'why?' has always driven curious directive. Without inquisitivene&8 and curiosity. we are lost. At curious directive, we are often In search of new knowledge and. as with the scientific enquiry, we are prepared to improve with each attempt. We also think of curiosity as a guiding value because It Is filled wrth infinite posslbilthes. Curiosity also encourages a culture of inquiry and oxploration. This aligno artiotic and scientific mcthodologicJ ond inspires curioug directive (and our audiences) to engage deeply wilh our programme. Curiosity leads to change. it leads to hope. it leads to a better future. COLLABORATION Our collaboration Is born from a highly communicative, honest and open approach to our mission. Our programme is created through sophisticated (and often challenging) collaboration. over long periods of time. Focussed, specific skill sets are important. as is the ability for all collaborators to remain fl8xible. Wo octivcly 0ek ¢ollaborotlVO aouls to work wlth us. Wovcn into collaboratlon 13 an ernpathy for the deep history of the company, the heritage and the integrity with which collaboratlon has led the company lo such a trom0ndou PO4Pbltion within culturc arKI cl0cO. AUTHENTICITY Each time we begin any of our Programmes, we on-board new approaches and skills. 'What we've done before, doesn't necessarily work. So, we are nol monotheistic in our methodology. But it is core to our values to work with people who live their artistic and scientific lives Ihrough authentr'city. There is space for everyoi)e and every moderate idea in our organisation. An authentic approach directly links to our audience. We ask for authentic responses to our work. This leads to the robust core following enjoyed by curious directive. GRAFT & CRAFT Our CEO has spent 25,000 hours worklng in theatre. We work hard. We work smart. Due to the new ground we pcok. thoro an oxpectation that graft will bo needed to achieve our goal. Whethcr drivcn by economic challenges or the new ground of the production, it is a core value to work hord. Craft 13 al4>0 an important part of our delivery beliefs. We understsnd thal whilst we ask questions and propose a hypothesis, the answer or response will take craft. Even rf it feels like the answers are dear, we will still craft and work, as it is never finished.
Director l Trustees, Report DIRECTIVE When we created the idea of 'curious directive,. we were working with a neuroscientist who explained that the entiro hurnan condition. far wo l<now, oan bo dcfincd by 'curio*PJity' ond dircction, or 'dircctivc'. Our directive gives us purpose. a direction of travel. We dream. but we deliver. In our 16 year of curious directive, our core values have never been more important to fdlow. curious dlrective - our Hypothesis 1. What? Everything within our programme engages and explores how theatre can reveal the wonders of science. 2. HO We work in ambitious, dynamic. and unexpected ways. We introduce audiences to science. theatre and technology and to build our community. 3. Who? We always prloritise unheard voices within our ever-growing cultural community. 4. Where7 We work across a spectnjm of hyper-local, nalional to intemational. 5. Why? We believe science can help us all navigate 21 century lrfe - and that theatre is the best way to communicate these ideas. curlou• dlrectlve - our blueprlnt curious directlve is the only theatre company in the UK solely offerlng a year-n)und theatre programme exclusively focused on science & society. Since 2008, curious directive's core rnission has been to create worfd-class theatre explorlng lrfe through the lens of science. In 2024-25, with our llexlble 417m2 theatre-maklng space In Norwich. we have the engine room for our mission, exploring topics from astrophysics to zoology. These productions have toured to 125 venues reachlng 250,000+ audience members reglonally, natlonally, and intematlonally. Our 12 major productlons have recelved 17 awardslnomlnatlons (includlng Scotsman Fringe Flrsts) with I i i1iteiTldtiori<il touiiiig track-rewiLI aLIDSS 11 wuiitries, iiiLludii Ig world-reriowried Loi)leriipuidly Ilieatie festivals; frorn Melbourne to Hong Kong. Our work takes Norwich to the worfd. Ton of our playG aro publlchod by Bloomcbury and our work IG rogulorly described 'cutting.odgo' ondlor 'ground-breaking', We start all our productions with our future audlences, via our community-led Science Club model. Our 2024-25 prograrnme of activty summarised below, showcases our core actlvty. benerIng 5.000+ people across the year. In shaping our activities for the year, the trustees have considered the Charty Commission's guidance on public benefit, induding thc guldancc 'Public Bcncfrt: Running a Charity (PB2)'. OUR 2024-25 CALENDER OF ACHIEVEMENTS APRIL 2024: Black Sheep. our new production about farming In Norfolk, opened acTo- -evcn showr• in our theatre in Nop•vich. Sold out performances and invitations from venues across the UK to tour during 2025-26. Beneficiaries., 890 mAYULy 2024: Work begk]ii vil Tli¥ Exuplaiiets, a co-yrLKluLlivri witli Ihe City of London Sinfuiiid, Norfolk
Director l Trustees, Report and Suffolk Music Hub. NASA and 7 composers. Beneficlarl•8: 300 AUGUST 2024: Botanical Garden 8ar & Kitchen ran all summer in the garden via an 'EveniS based model. We independently managed the enterprise. foSIng on local pr<xluce, great food. and storytelling. Beneficlaries: 3.300 SEPTEMBER - OCTOBER 2024: Curious Cultures," 'hands on, chemistry in Care Homes conlinues across Norfolk; from perfume making, natural ink rnaklng to 3D prlnting. In partnership with Royal Society of Chemistry. Beneflclarle•'. 40 NOVEMBER 2024: curlous directive began work on a new Sclence, Art and Technology fesllval by18unching our first 'Tomorrow's World. event. We also began planning to tour our show DeGiphering to five schools across the UK, in line with a national tour ot Black Sheep. Beneflclarles= 300 DECEMBER 2024: Our annual theatre workshops In the community included working with local asylumlrelugee charities. Care Homes and St Martin's Houslng Trust sharlng and bullding partiClP8nts' Interest In Science. Benefi¢larl•8: 30 JANUARY 2025: The third year of our 3-week-long residencies called Hypothesis retreats for 3 independent theatre companles. We offered £1,000 grants, industry training surgerles and space to dream. Our 2024-25 companies included MeGhanimal, Saksi Bisou and Emballage Ensemble. Benoflclarloj: 35 FEBRUARY 2024: Science Club; 8 nlght out In sclence. Intriguing areas of science are informally shared by a research scientist with a pint (or non-alcoholic drink) - for just £10. 2025 topics were 'An Introduction to Fungi, with Merlin Sheldrake, 'An Introduction to the Microbiome of Wild Animals, with Bushra Schuitemaker, 'An Introduction to Al. with Dr. Kate Devlin and 'An Introduction to Rock Pools, with Peter Barry (CEFAS). 8•nofl¢larles: 330 MARCH 2024: Development began on a new show HEARTWOOD. with NHS England. New Earth Theatre, The Lowry and Queen's Theatre Homchurch. Beneficlarles: 70 Total beneficlarles 2024-25.. 5,295
Director l Trustees, Report SOCIAL MEDIA FOLLOWING We post regularly about our activities, particularty in Norwich. Instagram: 2,300 followers POLICIES Policles for the 2024125 year include {reviewed on a rolling basis): 1. Privacy Policy. 2. HR Policy (Disciplinary and Grievance Procedure). 3. Digital Policy and Action Plan. 4. Sexual Harassment - Code of Behaviour. 5. Environmental Poliw and Action Plan. 6. Safeguarding Code and Pr8Clice. 7. Health and Safety Policy for all freelancers. 8. Creative Case for Diversity and Equalities Action Plan. 9. Updated Reserves Policy. 10. Dats COlle10n Policy (internal). 11. Dignity and Respect at Work Policy. 12. Recruitment Policy. 13. T.raining and Development Policy. 14. Procurement Method Statement. 15. Matemity I Paternty I Shared Parental Leave Policy. FINANCIAL REVIEW As of 31 March 25, curious directive holds £63.000 in cash reseThe. This amounts to just over 6 months of Core operating costs, a company now outsidc of Arts Council England (ACE) National Portfolio (a position we held 2018-2023). this has been accrued from significant intemats'onal activity and made possible by diligent and shrewd financial management from our founder and CEO. Jack Lowe. It is noted reseNes have become particularly Important Ginco thc charity mado tho dcci4•ion to reduce staffing costs in Septcmbcr ?OQ? Our continued core funders (locally and nationally) underpin our significant core activity. Given that our previous 5 year8. turnover has been bolstered by core ACE funding. it is a tremendous feat to deliver a turnover of around £200,000. This was a quieter year (in tems of theatre production) and thus represents a year with a full wder programme, but only one theaire production in fu51 delivery. STRUCTURE. GOVERNANCF. AND MANAGEMENT The charity is a cornpany limited by guarantee. The charity has a Chair and a further four Trustees who follow our Articles of Association as our governan document (updated in 2020). Recruitment of Trustees takes place after open discusslon between the Artistlc Director and the Board of Twstees during quarterly Doard meetings about gaps in our skillset. An Opan Call is then published across diverse channels. Al candidates are nolified as to whether their application will be taken forward or not. For candidates who we fe81 fulfil Ihe criteria, we initially approach with the offer of an informal meeting, followed by an invitstion to observe a Board meeting. The appointment is then put to a vote in the Board meeting, followed by a oignaturo and a numbcr of documcnts sharcd with thc new Board member. CAPACITY In 2024125, our team reduced to 1.7 fte to ensure a robust. but slimline delivery team.
Director l Trustees. Report SMALL COMPANY EXEMPTIONS This report is prepared in accordance with the provisions of the Companies Act 2006 relating to srnall companies. This report was approved by the Board of Twstees on signed on their behalf by Kumiko Mendl Chair, curious directive
Independent Examiner's Report I report to the trustees on my examination of the financial slatemenls of Curious Directive. ('the company,) for the year ended 31 March 2025. which are set out on pages 2 to 13. Responslbllitles and basls 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 flnancial statements in accordance with the requirements of the Companies Act 2006 ('tha 2(K)6 Act.). Having satisfied myself that the financial 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 SpeCt 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 sects'on 145 (5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and conseqLAently does not cover all the matters that an auditor considers in giving their oplnion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently. l express no opinlon as to whether the financial statements present a 'true and fair view, and my report is limited to those specific matters set out in the independent examiner's statement. Independont ¢xamln•r's statement I have completed my examination. I confim that no material matters have come to my attentlon In connection wrth the examination giving me reasonable cause to believe that in any material respect: accountlng records were not kept in respect of the company as required by sectlon 386 of the 2006 Act: or 2. Ihe financial statements do not accord wilh those records; or 3. the financlal statements do not comply with the accounting requirements of sectlon 396 of the 2006 Act other than any requirement that the financial ststements give a 'true and fair view, which is not a matter considered as part of an independent examination: or 4. the financial ststements have not been prepared in accordance with the methods and princlples of the statement of Recommended Practice: Accounting and Reporting by Charities applicable to charities preparing their financial statements In accordance with the Financial Reporting Standard applicable in the UK and 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 financlal statements to be reached. Signed: 7hfr Name., James Fordham Name of applicable listed body: Certlfied Public Accountant's Associatlon (CPAA) ON BEHALF OF Fordham Finance Group LTD Address: 86-90 Paul Street London, EC2A 4NE Date: 2611112025
Curlous Olr•cllv• IUrnll•d by Guar•ntq•) Unaudlt¢d Con•olldatod Statemontof Flnancbal Actlvlti Ilncludlng InGom• and exp•ndlturo Account) forth• Y•ar End•d 31 March 2025 Unrn•trlGl•d R••trlcl•d fvr fund• Non4harltbl• 2D2SYatd Iknr•IL RMtri¢i•d fur trnthnq fvnd• •uIMldl•ry 24 Ch•rfty ¢h•rtty In¢om• •nd •ndomnl• frtyTh' DonaOnS, gronl$ ond le9gdes-p8gg 11 Chaiitabk8 ac8$ 13,951 110,543 110,543 220,251 10,820 231,071 52,648 52,648 52,648 $6.914 58,914 Tr•dlng A¢tyvil• ITw8StffffjntB 903 32,OTrJ 32,0 32,000 57,578 57,578 Totll 182,143 13,951 198,094 196,094 335,403 10,820 348,223 Exp•ndlturn . Th•atr•- pBg• 12 Trndlng Actti 179,751 11.057 1,808 190,808 27S,241 19.969 295.210 449 Totsl 179,751 11,037 IW.8e8 449 191,257 275,241 19,969 29S,210 N•t InGryn•l l•xp•nthtur•l TranSfer8beAen fLmd$ 5,286 11491 4,837 60,182 19,1491 51.013 13. 14 Not mov•rMnt In knd•.' 2,392 5,286 14491 4,837 80.162 19,1491 51,013 R•conGHl•llon oflund•'. Total funth broughtforArd 212,675 12. 225.680 234,575 1$2,513 22,055 174,588 Tot•1 funds urrl•d forld 13, 14 215,066 15.8 230,886 239,412 212.675 12.9J6 225,5eo Thenole8onpBgeJ 16to24 lonn on Int•gr41 01 Iho•• rmoncl8t4i•ThW. Th• siaiemonl ol In•rdil ¥C¥bl Induu* il gakna and c09rdSed hi lh• y•w. hjl •rO •wndlbJr•OAfvé frcffi contynulry
curious dlrectNe (Limited by Guarant) Unauditsd Consolldated Ststement of Financial Activities (including Income and Expendlture Account) for the Year Ended 31 March 2025 2025 Charity 2024 Charity Income from donatlon8, grants and legacl•s Grants ACE NLPG funding Other grantslfunding 76.229 (12.968) 123,511 110,543 154,842 231,071 Total Income from charStabl• actlvStle8 Th•atre Theatrn Income and proJ•ct 8poclfl¢ fvndlng Box officelfeeslgu8rantees SSSJ earned Income Other incomelreimbursed expenses 32,689 39,560 1.500 15,854 56.914 19,959 52,648 Total
curlous directive (Limbted by Guarantee) Unaudlted Consolldated Statement of Financlal Actlvities (includlng Income and Expenditure Account) for the Year Ended 31 March 2025 2025 Charfty 2024 Charity Expandlture on charltable actlvltl•s TAtre Produ¢tlon costs Salaries Wages Fees Social security costs Pension costs Production sts sssJ Travellaccomrnodationlsubsistence Marketinglpromtion Production researchldevelopment 40.000 10.908 33.793 4.264 1.949 12,926 32.520 8,117 40,000 59,822 39,166 4.264 1.013 37.897 39,216 23,891 3.903 125 911 145,389 249.297 Support costs- page 11 Governance Costs - page 11 43,687 1,732 43.031 2.882 190,808 295,210 10
curlou8 dlrectlve (Limited by Guarantee) Unaudited Consolldated Statement of Financlal AGt•vltles (includlng Income and Expenditure Account) for the Year Ended 31 March 2025 2025 Charlty 2024 Charlty Support and governance costs Support costs Offl¢• oveth¢ads Telephonelintemet Insurance Repairslmaintenance Depreciation of production equipment Depreciation of fixiureslfittingslequipmenl Depreciation of vehicles 704 6,219 1.286 5.348 13.258 2,145 700 5,577 1,086 7,500 12,196 2,145 28,960 29,204 Admlnlstratlon costs Fees Trainingldevelopmenl Travelltransport ComputerllT costs PrIntinpOst8ge/stat1onery Advertising Subscriptionsllicences Sundries 1.978 3.921 1,304 5,163 1.133 723 542 20 1.658 582 1,031 1,112 9,928 9,704 Prof•sslonalffinan¢lal BookkeepinglaCUntancY sofbNare Bank charges 4,274 525 3,591 532 4,799 4,123 43,687 43,031 Governance costs Legallprofessional Accountsncylconsultancy 436 1,296 74 2.808 1,732 2,882 45.419 45,913
curlous dlrectlve (Llmlted by Guaranteo) Unaudlted Group and Charlty Balanc? Sheet at 31 Paarch 2025 Group 2025 Charlty 2025 Group 2024 Charty 2024 Fixed assets Tangible assets 18,682 18,682 39,433 39.433 Total fixod assets 18,682 18.682 39,433 39,433 Current a88ets Debtors Cash at bank and in hand 10 106.286 122.606 105,988 122,606 141,734 110.170 141.436 110.170 Total current assets 228.892 228,594 251.gm 251.606 Credltors: amounts falllng du• wlthln one year 11 (8,163) (16,411) {56,763) (65,459) Net Current assets 220.729 212,184 195,140 186,147 Credltors: amounts falllng due After moro than ono yoar Total n•t a$s•t8 239.412 230,866 234.575 225,580 The funds of th• ¢harfty Unrestrlcted funds General fund Designated fund Non-charitable trading subsidiary Restrl¢ted funds 13 152,066 63.000 152,066 63.000 152,675 60.000 8,994 12.906 152,675 60,000 14 15,800 15.800 12.906 Totsl funds 239.412 230,866 234.575 225,580 For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have requi the charitable company to obtain an audit of its accounts for the year in queslion in accordance with section 476 of the Companies Act 2008. However, in accordance with section 145 of the Charities Act 2011 the accounts have been exarnined by an independent examiner whose report appears on page 9. The Trustees acknowledge their responsibility for complying with the requirements of the Act wrth regard to accounting records and for the preparation of accounts. These flnancial statements have been prepared In accordance with the provisions applicable to companies subjecl to the small companies. regime. The unaudited financial ststements on pages 10-24 were approved and authorised for issue by the trustees on 2711112025. Kumlko Mendl Chalr The notes on pages 1410 23 form an integral part of these financial statements. 12
curious directive (Limited by Guarantse) Charlty Cash Flow Statement for th• year ended 31 March 2025 2025 2024 Notes Cash Ilows from oporatlng actlvltles 19 (35,254) (5,560) Cash flows from investbng activitiès: Dividends. interest and rents from investments 903 660 Purchase of propety, plant and equipment Net ca•h provlded by Inv•$tmont adlvltl•s 903 660 Change In cash at bank and in hand in the reporting period 12,436 33.644 Cash at bank and in hand at the beginning of the reporting period Cash at bank and In hand al the end of the reporting period 110.170 76.526 122,606 110,170 13
Curlous directlve (Llmlted by Guarantee) Notes to the Flnanclal Stalemenls for th• year ended 31 March 2025 Accountlng policles 1.1. Basls of preparlng the flnancial ststements The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (issued October 2019) 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) - (Charitles SORP (FRS 102)), and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise ststed in the relevant accounting policy notes. 1.2. Preparatlon of the accounts on a golng concern basls. The company is dependent on the continued support of grant aiding bodies. The trustees believe that the company will continue to receive this support and accordingly consider that it is appropriate to prepare the financial stalements on the going concern basis. 1.3. Incomlng resources AJI incoming resources are included in the Statement of Financial Activities when.. the charity is legally entitled to the funds - any performance condrtions attached to the income have been met or are fully within the control of the charty - there is sufficient certainty that receipt of the income is considered probable - the arnount can be reliably measured Donatlons and legacles Grantsldonations are recognised In Incoming resources in the year in which they are receivable, except as follows: -when donors specify that grantsldonations given lo the charlty must be used in future accounting periods, the income is deferred until those periods. when donors impose conditlons which have to be fulfilled before the charlty becomes entitled to use such income. the income is deferred and not included in incoming resources until the preconditions for use are met. - Charltablo actlvltle8 Theatre income - income from t)ox office, performance fees and sundry other theatrical income is induded in incoming resources in the period in which the relevant show takes place. Proiect specific funding - when donors specify that donations and grants are for particular restricted purposes. vlhich do not amount to pre-cnnditions regardlng entitlernent, thls incorne is Included in incoming resources of restricted funds when receivable. 14
curious directive (Limited by Guarantse) Noles to the Financial Statements for the year ended 31 March 2025 - Donat•d s•rvlces and facllltlés Donated sen4ices or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated Item have been met, the receipt of economic benefit from the use by the charty of Ihe item is probable and that economic benefit can be measured reliably. On receipt, donated sepiices and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. - Investment Income Interest on funds held on deposit is induded when CeiVable and the amount can be measured reliably by the charity; this is nonnally upon notlficatlon of the intsrest paid or payable by the Bank. 1.4. R•sourc•s expendod All expenditure is included on an accruals basis indusive of any VAT which cannot be recovered and is recognised when: there is a legal or constructive obligation to make a payment it Is probable that settlement will be required - the amount of the obligation can be measured reliably - Costs of ralslng funds Costs incurred in attracting donations. and those incurred in trading activities that raise funds. - Charltablo actlvftles Theatre productlon costs- costs Incurred in productSon and running of productions toured in the year. - Support costs The administrative and overhead costs associated with running the office from which the company operates as well as govemance costs. Support are wholly attributsble to theatre production costs. - Governanc• costs Costs associated with the constitutional and ststutory requirements of the chanty. 1.5. Fund accountlng Funds held by the charity are either.. Unrestricted general ndS - these are funds whlch can be used in accordance with the charitsble objects at the discretion of the trustees. Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further exp18n8tlon of the naturo and purpose of each fund is Included in the notes to the flnancial statements. 1.6. Penslons The cnmpany operates a defined contribution scheme for the benefits of its employees. contributions are recognised as expenditure when du8. 15
curlous dlrectlve {Llmit•d by Guarantee) Notes to the Financial Statements for the year ended 31 March 2025 1.7. Tanglble flxfjd assets and deprociatlon Individual fixed assets costing £300 or more are caprtalised at cost. DepCiatIon 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 Fixtureslfittingslequipment otor vehides 5 years straight line 5 y88rs straight Iln8 8 Yea straight Ilne 1.8. Debtors Trade and other debtors are recognised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid after iaking account of and trade discounts due. 1.9. Cash at bank and In hand Cash at bank and in hand indudes cash and short term highly liquid investments with a short malurity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.10. Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably r8suft in the Iransfer of funds to a Ihird paty and the amounl due to settle the obligation can be measured or estlmaied reliably. Credltors and provlsions are normally reco9nised at their settlement amount after allowing for any trade discounts due. 1.11. Flnanclal Instruments The charty only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactlon value. and subsequently measured at their settlement value. 1.12. Slgnlflcant Accountlng Estlmatas and Judgements In detennining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of fulure events aod are reviewed annually. Incomlng resourc•8 The total incoming resources for the year have been derlved from the principal activty undertaken wholly in the UK. 16
curious dlrectlve (Llmlted by Guaranto9) Notes to the FSnanclal Statements for the year ended 31 March 2025 Other Incomo 2025 2024 Theatre Tax Relief (fFR) 32.000 57.578 Net Incomel(expendlture) for the yr bs stated after charglng. 2025 2024 Depreciation of tangible fixed assets Independent Examlners, rernuneralion independent examination - other services 20.751 21.842 1,200 96 1,200 1.608 Tru8t•O8' omoluments and r•lmbur•ed expens•• The trustees received no remuneration dun9 the year (2024 - £nll}. The aggregated amount reimbursed to trustees during the year was £nil (2024 - £nil). 17
curious directive (Limited by Guarantse) Notes to the Financial Statements for the year ended 31 March 2025 Staff costs and numbars 2025 2024 Staff costs Salaries and wages Social security costs Pension costs 50.908 4,264 1,949 99.822 4,264 1,013 57.121 105.099 No employee earned £60.000 or more during the year (2024- nil). The key rnanagernent personnel of the charity comprise the Trustees and the Senlor Management Team. The total employee benefits of the key managernenl personnel of the charity were £35.000 (2024 - £35,000). staff numbors The average numbers of employees (induding casual and part time staff) during the year was made up as follows: 2025 NuMr 2024 Numbor Production P•nslon costs The company operates a deflned ntrIbUtIOn pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £1,949 (2024- £1,013). Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxatlon of Chargeable Gains Act 1992 to the exient that these a applied to its charitable objects. 18
curlous dlrectlve (Llmlted by Guarantee) Notes to th8 Flnanclal Statements for the year •nd•d 31 March 2025 Fixed assets - tanglble assets Fithresl fittlngsl oqulpmont Motor vehlcles Productlon equlpment Total Cost 1 April 2024 Additions 37.504 66.288 17.163 120,955 31 March 2025 37,504 66.288 17.163 120.955 Depreclatlon 1 April 2024 Charge for year 31 March 2025 32,156 40.784 13,258 8.582 2,145 81.522 20,751 37.504 54,042 10,727 102,273 Net book values 31 March 2025 12,246 6.436 18.682 31 March 2024 5,348 25,504 8,582 39.433 10. Debtorn 2025 2024 Trade debtors Other debtors Prepayments and accrued income 7,000 5.492 93,496 24.299 117.137 105.988 141,436 11. Credltors: amounts falllng due wlthln one year 2025 2024 Trade ueditors Other taxationlsocial security Other creditor5 Loans to related parties Accruals 805 3,852 1.105 10.649 28,806 13.917 10,621 12.115 65.459 16,411 19
curlous dlrectlv• (Llmlted by Guarantee) Notes to the Flnanclal Statements for the year ended 31 March 2025 12. Llmlted by guarantee The private limFted 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. to the company should it be wound up. At 31 March 2025 there were 7 members. 13. Unrestrl¢tod lunds Brought forward In¢ome Expendltur• Transferd Carrled Forward General fund 152,675 182,143 179.751 (3,000) 3,000 152,066 Designated Fund 60,000 63.000 Total 212,675 182,143 179.751 215,066 14. Restrlcted Funds Brought Foard tncom• Exp•ndlturn Carrled Forward Fixed Assets NHS8T Sylvia Waddilove Royal Society of Chemistry 12,906 7,149 3.908 5.757 5,931 2,000 2.112 9,839 2,000 2,112 12,906 15.800 Flxod assets 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. Natlonal Health Servlce Blood & Transplant (NMS8T) This grant is to enable a series of community workshops &xplorlng organ donaiion. Sylvla Waddllove Foundatlon UK This grant is towards new 'blackouf blinds. Royal Society of Chemistry This grant is towards Curious Cultures workshops. 20
curlous directNO (Limited by Guarantee) Notes to the Flnanclal Statements for the year ended 31 March 2025 15. Analysls of net assets between funds Unrestrlcted Funds Restrlcted Fund5 Charlty 2025 Tangible Fix8d Assets Net Current Assets Long Term Liabilities 12,925 202,141 5.757 10,043 18,682 212.184 215.066 15,800 230.866 16. Related party tran8actlons During the year, the Charity operated trading activities through a wholly owned subsidiary (CURIOUS DIRECTIVE ENTERPRISES LTD Company number 14098239). At the end of the period the charity owed its subsidiary £10,649 as an interest free loan repayable on demand. 17. Roconclllallon of not Incom•l(•xp•ndlture) to net cashflow from operatlng actlvrtl08 2025 2024 Net incomel(expenditure) for the reporting period (as per the statement of financial activities) Depreciation Dividends, interest and rents from Investments (Increaseydecrease in debtors Increasel(decrease) in creditors 4,837 (56.782) (20.751) (903) 35.448 (49,048) (20,261) (660) {77.839) 38,629 Net cash Inflow from operatlng actlvltl•8 11,085 60.131 21