IMPROBABLE REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Registered Charity No. 1155695 Crmnpany No. 08561272 "ACIHSJAO. 1611212023 C&MPANIES HOUSE A14
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IMPRO8A8LE ConteThtsol the Fin•rlal ststefflefits thè¥ Ended 31 Marth 1013 Page Report of the Yrnstees Independent Examiner's Report Sratemeni of Finah£i31 Actibilies ealance Sheet Notes to the Financial StaterTrents
IMPROBABLE Trustees, Re rt for the Year End 31 March 2023 The Trustees Iwho are also direttors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of Improbable (the harityl for the year ended 31 March 2023. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements. the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice Charities FRS 102 ISORPI 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 leffective January 20151. Charity N3me= Improbable Charity registration number: 1155695 Company registration number.. 08561272 Registered office: do PopHub 1st Floor. 41 Whitcomb Street, London WC2H 7DT Board of Trustees: The trustees in office during the year were as follows Paul Anderson Phil Clarke Stephen Daldry Natasha Freedman (chair) Francoise Girard (appointed December 20221 Patrick Handley lappointed March 2023) David G. Knott (resigned Oecember 20221 Elspeth Murray Benjamin Seng-Loong Yeoh lappointed August 20221 Griselda 8ourne Pauline Mayers Company Secretary: Victoria Grace Key Management Personnel: Phelim McDermott & Lee Simpson. Artistic Directors and joint Chief Executives Vidoria Grace, Executive Director Kathryn Bilyard. Executive Producer
Accountants: Moore Kingston Smith LLP, 9 Appold Street. London. EC2 2AP. Stfurture overnan¢e and mana Constitution Improbable 15 3 company limited by guarantee, incorporated on 7 June 2013. governed bv its Memorandurn-& Articles of A550Ciation. The company wa5 registered 35 3 charity by.the Charity Commission in England and Wales on 7 February 2014. ement The object for whith the charity was established is to advance education for the public benefit by the promotion of the arts. in particular but not exclusively the art of drama. Recruitment and Appointment of Trustees The management of the company is the responsibility of the Trustees. who are appointed under the terms of the Articles of Association. They shall be no less than three and no more than ten. One-third of the Board of Directors, or, if their number is not a multiple of three then the number nearest to one third, shall retire from office each year at the Annual General Meeting. The retiring members shall be eligible for re-election unless it is expressly resolved otherwise. New Trustees are proposed by the cornpanws Executive Team and elected with a majority vote by the Trustees. Indurtion and Training of Trustees All new Trustees will attend a meeting with the Executive Team and. separately* the Chair of the Board. They will also be issued the Mefflorandum and Articles of A55OClation and current company business plan. Specific training and development opportunities offered by external bodies will also be offered to individual Board members or the 8oard as 3 whole as and when appropriate. Organisational Structure During 202212023 financial year Improbable embedded an additional team member to the senior management, incorporating Matilda Leyser as Associate Director, which came into effect in August 2022. The senior management team now consists of two Artistic Directors (who are also joint Chief Executives of the organisationl, an Associate Director. an Executive Director and Executive Producer. The senior team was sUPPOrted by an Open Space Producer Ipart timel, a Fundraising ¢)fficer (part timel, and an Administrator (full timel- The senior management team report to the Trustees at quarterly Board meetings, which are minuted by the Administrator. Related Parties Nothing to declare. Ai5k Management The Trustees have assessed the major risks to whith the charity is exposed, and have included a risk register detailing these in their latest business plan.
Objertive5 The principal activities of the company throughout the year are to advance the arts for the public benefit. by the promotion in particular, but not exclusively, of the art of drama. When planning activities the trustee5 have considered the Charity Commission's guidance on public benefit. Including the guidance 'Public 8enefit- Running a Charity IPB21'. Improbable is "one of the brilliant faces of British theatre" (The Observer). and exists in order to expand and deepen the practice and application of improvisation. For Improbable, "Improvisation" might mean onstage improv, Open Space. Worldwork or any other emergent practice that brings awareness to each unfolding moment. Our view is that developing this awareness through improvisational practice has the capacity to rnaterially change the world. It creates models of leadership, collectivity and collaboration that are more effective than systems based on hierarchy or command and control. It awakens the individual's sense of their own aEenc¥ while creating and nurturing communitv and collective action. It Cfeètes a conversation between the tangible and the intangible. between'hard, and '50 power. It opens the possibility of a society where art. culture and the dreaming world are not treated as an add-on to be entertained after the important conversations have been had - they are central to decision making in social, organisational, legislative, economic and politic31 spheres. Improbable is led by Phelim MtDermott and Lee Simpson. who for over thirty year5 land since 1996 with Improbable) have been developin8 and sharing their improvisational prattice. Their journey began by performing improv onstage and devising shows: developed further as they found ways to bring improvisation into other theatre forms such as text- based plays and opera,. and then expanded beyond performance to bring the philosophie5 and practice of irnprovisation to community and societal issues. The breadth of Improbable's knowledge of improvisation and its application is unrivalled and means we occupy a vital space in the landscape of international theatre. Improbable's busine55 plan wa5 updated in May 2022. Improbable is the only National Portfolio Organi5ation of Arts Council England that is solely dedicated to improvisation. Activities and achievements Improbable's activity during the 2022123 financial year was extremely busy, with several new productions created and staged due to PostnementS from pandemic years. Improbable won Producer OfThe Year atThe Stage Awards 2023. Key actiwty= • Akhnaten IENO. LA Opera with Improbable) was remounted at Metropolitan Opera. NY with record sales for a remount produrtion including two sold-out performances. Alongside this Improbable supported an engagernent project, RA, led by Anthonv Roth Constazo with Bronx Arts Ensemble engaging young people across four boroughs in a (Created public performance series. Akhnaten was remounted again at English National Opera in Spring 2023 to sold-out shows. Phelim McDermott and Kathryn 8ilyard worked with LA Opera as they mounted 8ambinO for the first time in the LA area which will tour annually for five years. Too
Of Gloss was performed at Ruhrfestspiele Recklinghausen and Memorial Hall. University of Carolina Iboth co-commissioners of the workl. My Neighbour Totoro premiered at the Barbican, produced by RSC and Joe Hisaishi with lrnprobable and Nippon TV to a sold-out run and critical and award success. Winner of six Olivier Award5 including= Best Set Design - Tom Pye, Best Costume Design - Kimie Nakano. Best Director- Phelim McDermott. Best Entertainment or Comedy Play, Best Lighting Design- Jessica Hung Han Yun. Best Sound Design - Tony Gayle. Winner of five Whatsonstage Awards including: 8est Direction- Phelim McDermott. Best Musical Dirertion/Supervision- Bruce O'Neil and Matt Smith, Best LiEhtinE Design - Jessica Hung Han Yun, Best Set Design - Tom Pye and Basil Twist. Best Sound Design- Tony Gayle. Critics, Circle Theatre Awards.. Best Designer- Tom Outside The Frome continued development with a R&D period in collaboration with Telepresence Stage at Brighton University. The Hour5 premiered at the Metropolitan Opera, NY and has been reprogramrned for 2024. An Improboble Musicol toured to Exeter Northcott and Hackney Empire. and will continue touring in 2024. Perfect Show For Rachel. created by Zoo Co and supported by Improbable, premiered at the Barbican and won an Off West End Award for Access. This will tour in 2024. • Improbable won Producer OfThe Year at The Stage Awards 2023. Ongoing Improbable's Open Space For Hire retumed to in-person spaces for the majority of events. The annual Devoted and Disgruntled event took place at Gulbenkian Arts Centre in Jan 2023. Satellite Devoted and Disgruntled events took place around the country throughout the year. Organisational review of the Compan5 Strengths, weaknesses and opportunities as the industry slowly emerged from the pandemic, with parti¢ular consideration of the shift in business model towards a more place-based organisational structure, with sustainability and financiallpersonnel resilience at its heart. This included the successful search for a new Improbable home at Bore Place in Kent and the start of activity onsite including collaborating on Arts Award delivery. This relationship has developed throughout the financial year. and exploration of the partnership and the feasibility of transitioning to Kent will continue throughout 2023124. Flnanclal & Organlsatlonal Revlew Having operated as a partnership since 1996. Improbable was incorporated as a limited company in 2013 and received charitable status in 2014. At that point trustees resolved to build reserves, having not held any while operating as a partnership. A target was set to allocate £5.0- £IO.000 per financial year towards a charitable resenrfe. working towards on end goal of £63,700, or three months. organisational running costs. in line with Charity Commission recommendations by the end of the 2018- 2022 business plan cycle. During Covid-19, trustees identified an 'absolute minimum, level of reserves necessary for the healthy function of the organisation as £45,OCM). equivalent to 8 weeks, operational costs
and in line with changing guidance in the sector during the pandemic. As of March 2023, the reserves level sits at £158,462. In 202212023 we received a l year extension on our NPO funding agreement with Arts Council England totalling £274.651, ond raised a further £38,659 through donation. A further £234.631 was secured through box office income. producing and management fees. workshops and other 50urce5. Approved by the Board of Trustees and signed on behalf of the Boafd= Natasha Freedman Trustee and Chaif 08ie' 13th DeIr¥ 2023
Independent Examiner's Reportto the Trustees ollMPRO8ABLE Forthe Year Ended 31 Mar<h 2023 I repm io thecharity trystees on my examination of the accounts of the Company for the year ended 31 March 2023. ResponbIlItIeS and basis otreport As the chariWs trustees of the Cormpany lond also its direcrors for The purpose5 of company lawl you are responsible for the preparation of ihe account5 in accordance wtth the requirements of the Companie5 Act 20061.the 2006 Att'l. Having satisfied myself thai ihe accounts of the Company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. l ieport in respert of rny exarnination of your charity's accounts as carried out kjnder sertion 14S of the Charitie5 Att 20111'the 2011 Act'l. In carryin8 OLIt rny examination I have followed the Direttions given by the Charrty Commission under section 145151 Ibl of the 2011 Act. Indepefident examinerfs statement Since the Companrfs gross income eKeeded E2SO.¢XXJ your examiner musi be • member of a body listed in section 145 of the 2011 Att. I confirm that l am qualified to undertake the examination because l am rnember of the Inttitute of Chartered Accountants of England and Wales, t*4hKh is one of ihe listed bodies. I have completed my examinarion. I confirm that no matters have corne to my attention in connection wilh the examination giwng me cause to believe= l. accouniinB records were not keo in respect of the Company a5 required by seuion 386 01 the 2C¥)6 Act," or 2. the accounts do not accord wirh those record5- or 3. the occounts do not cornply with the accountin8 requirements o15ection 396 of the 2C#J6 Act other than any requirement that the accovnts give a'tiue and fair eW which ts not a matter considered as part of an independenr examination.. or 4. the accounts have not been prepared in accordance with the rnethods and principles of the Statemeni of fteiommended Practice for accounting and reporting by charities (applicable to thantiES preparing their accovnts in actordan<e with the Financial Reporting Standard applicable in rhe UK and Republic of Iland IFRS10211. I have no concerns and have come across no other matters in connertion with the examination to whh ttention should be dra¥m in this report in order to enable a proper understanding of the accounts to be feached. Karen WardÈll. Fc lThdepÈndÈnt E¥miner For and on behalf of Moore Kingston Smith LLP. ChartgJed Actountants 6th Floof 9 Appold Street London EC2A 2AP Dale". 15 Oecember 2023 Page 6
IMPR08A8LE STATEMENT OF FINANOAL AcnvThiES torthe year ended 31 March 2011 Ilncffjioring Income and Epenll¥re Ac(•Antl Unrostrirted Aestrirted Fund5 Funds 71kn1 2013 Total 2022 Incorne Irom: Grants and donations 312.815 312,815 231,323 Charitable attivities 226.223 226.223 166.750 Other trading activities 10.154 10.154 339 T¢>tal Incivne 549,192 545.192 398,412 Expendlture ¢- Rai5in8 fund5 Charitable arti¥ities 5?6.670 576.670 455.361 Tot41 Expenditure 576.670 575.670 455,361 Net IÉMpenthturel I Income 127.4781 127,4781 156.9491 Theatre tax rdief 22,673 22,673 Net rn01ent in fumds 14.BOSI 14,80SI 156,9491 Fund balances at 1st pri1 2022 163.561 163,561 220.510 Fund balances at 31st Mh 2023 12 158,7 158,756 163,561 All dtsclosures relate only to continuing trationS. TherÈ are no recogni5ed gains oi losses other than the net exper[re for thÈ year a5 laid out ibo¥e. Page 7
IMPROBABLE ANCE SHEEr as * 31 P•larth 2023 2013 2022 FIXED A55ETS Tangible assets 61 CURRENT ASSErs DEbtOTS Cash on sh(rt terrn depD51t at bank and in h•rKI io 84.122 131.605 215.727 11.537 185.519 197.C56 CREDITORS.. Amountsfa411fi8 du within one yr li 156.9711 133.5561 NET CUARENT AssErs 158.756 . 163,561 TOTAL ASSETS LE CiIRRENT LIIBILMES 158.7 163.%1 TOTAL NEf ASSÉTS 158,7S6 163.561 FUNOS Ufirestricted Funds-. General funds 158.756 163,561 Restricted Funds TOTAL FUND5 158.756 163.561 For the ye3r ended 31 March 2023 the charity was entiileLI to exemptrcm fvom autht under sec0 477 of ihe Companies Act 2006 relating to 5rnall companies. The members have not required the cLYnpany to obtsin •n audit of its&C¢nIS for the ye¥ in qItion tn attordance with Section 476 of the Crmpanie5 Act 2(. The directors icknowledge thetr rew5ibility lor comp*.nE wAth the requirements of the Att ¥Ath respecrto accountinE record$ and for the preparation ol ihe accounts. The financial staiements have beer• wepared in acc£¥dance with the w0s1O$ appliCatt0 crKnpanies subjett tothe srnall cort7ponies re&iffle. The financial statements were apwoved bythe Trustees •nd authwised for issue on 13 Oecember 2023 SIEned on thwr behalf bv.. and were Trustee-. Company No. P4atasha Freedrnan 08561272 Page 8
140TE5 TOTHE HNANOAL STATEMEPITS foiihe ye¥ ended JI M¥th 202J I. ACCouNN6 POUOES alAc(ouniin¢ (Lvenon Basfjs ol Preparati Improbable 15 a ¢harity incorporated In En8lènd and Wales. The address at W(h the ¢haiityis tty'#ered can be found on page l ol this report. The chariV5 coThststulioll ian bE fvufid at I$addres& The financial statements hove been prepared in accordae with ihe Finanoal Reporting Standard aN1cable in the UK and Republit of Ireland IFRS 1021. wt4ished on 16July2014_ The Charitae Company is a wblic benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial 5tstements in accudènce wth the Statement of Recornrnended Practice iPF4i¢atrAeto tharities prepanngtheir accounis in accordènce wth the Financial Reporting Standèrd applicable in the UK and Republic ol Ireland (The FRS 102 ChaTitye5 SORPI. the Companies Act 2006 and the Charities Act 2011. Theflnancial statements are kyepared insterltr% isthe Iwcfi¢Kwl rwrenty of company. Monetary amounts these tinancial Ststernerbtsa rounded 10 the Th0are powd. bl Goini Concern Basis The finontial statements have teen prepared on a ¢oing cwKern bas1> Havin8tarried trjt a detailed review of Charity's resources and the current economic challEnge5 faiing IK)th the Charity and Its Members the Trustee5 are 50ti5hed thatthe Charity has yJffitient cash flowsto meet its liabilities as theyfoll due for at least vear frown the date of apwoval of thefinarKi41 statements. I kubuntinKEstirntes In the view of the tru5tee5 in applwn8 the accountini lIcIeS adopted, no judgements were required that ha¥e a signifitènt effÈrt on the amovnts reColSed in financial staiements. nor th anyesbm4tes or auumptions rnade carry a significant nsk of material adjusirnent in the next finarKi81 year. dl Fixed Assels Fixed assets are recorded at C05t. Am¢)unts incwred on capital items 0¥ £500 arECaltalisvJ. T3ngitdefixed assdsare depreciatd at annual raies to wriieoff the(oOf ihe assets o¥ertheir estimated Usef lives usini the fdlownlmethc4j5é rates".- % per annL Method 0fficeequlen1 25% StrJ¢ht line el Inca1< re%pJrcts Donotion5 are rectsEnisÈd when thele is ewdenceof efflitlemenL the receipt iswobable andtheamount tèn be measured reliat4y. Grants. where entitlement is t¢ditIonal on thedelibryofa SlfIC pertormarKe by the charty. 3re recogniseil when the<harity becomes uncorJitionallyentstled tothegrani_ Page 9
IhlPROBAeLE NOTES70 ThE FINANCIAL STATEMENTS lor the ¥eai ended 31 Marth 2023 I. ACCOUNT1146 POLICIES IconiinLreill fl Expenditure an41 its basis of allocioft All expenditure 15 dealt with on the accruals basis athd inthde5 value added tsxwhere appropriate. Charitable expenditure comprise5 those costs incurred tsy ihe charity in the delivEry of its acii¥ilies and services. It includes thrert .£osrs of attivities ènd th tosts of an indirett n4lure nece55ary to supportthose arti1•e5. allocated beiween expenditure categories on at) approprrdte basis. Kl Penslon Policy The company provides a defined contribution pensiDn stheme far its employees and contributions yble for the ar re ¢h4rged to the Ststernent of Financial thirieS as incurred hl Fund accoutttini The un$tcted fund5 are other Incorne receivable or ¢enerated forthe objecti¥es ol the charitywithoui fvrther specilied purpllse, and are availa as 8enEral funds. The restricted funds are funds vjhich are to be used in accordance with specific resiritticw)s imposed by donors or which have been iaised by the charity for particular pvrkK)ses. The cost of rai51nE and administering such funds are charged against the specrfit fmd. i)Tax*ion The Charity is exemptfrDm tax on income and gain5 falling within seciions 472489 of the Corporation Tam Act 2010 or sertion 252 01 the Tè¥ation of ChargeableGains Att 1992 to the extent Ihatthe5e are 3pplied to its charitable objerts. )IVAT The Charity is liStered f(¥ Value AddÈd Tax and thaTees and ret¢ tax as •ppwate on it5 Iorne and expendiiure. kl Finandal Instruments Cash and Cash Cash and cash equwalents indude tash at banksand in hand and short tewrn dep05itswith a maturity date of three month5 or less. 84sit Finanrial IIistrum¢nts The charity only holds basic financial Instruments as defined by FRS 102. FinarKial insiruments receivablE or payable within one year of the reporting date a carried at thtir at rransaction price and subsequently at amortised tost. 11 Empl(w Èenefrts The cost of short term ernployee benefits are recognised a5 a liability and expefise. The tost of arty unused hDlidav entitlement 15 fects8nisEd in the peiiod which the ernrAoyees 5errices are receNed. Page 10
IMPROBABLE NOTESTOTHÉ FINANQALSTATEMENTS f4w the ended31 2023 2. Imtcme from DthTrlons restrirted Restricted Funds Funds Tatl Yearto31 PAarth 2023 Donati5 Graryts <breakdrI below) 38.164 274,651 312.815 38,164 274.651 312.815 Unrestrioed Ilesvicted Funds Furtds Totsl 2023 Arts Council of Enlland 274.651 274.651 274,651 274.651 Yotsl 2022 Year to 31 Marth Z02Z FdS Funds Donatirms Grarts Ibread(Mn belL4wI 17.407 213,916 231,323 17,407 213.916 231.323 Unre5trf¢ted Re5trirted Fbds Funds Total 2012 Grants Arts Countil of Enand 213.916 213,916 213.916 213.916 3. Incomefrom Owvttle Ath¥llles Totèl 2021 Year to 31 March 2023 Fufid5 Producing and mènaiement lees Venues fee$ and GuaTrntees Comissions and Management lees Faciliation fees B¢x office incorne Membership intam2 Corporate and 4wkshop fees 162.& 33.822 162.600 33,822 22,667 2.139 495 22,667 2.139 495 I.SOD 226,223 226.223 Pa&e 11
NOTES TOTHE FINANCIAL STATEMENTS forthe year ended 31 Mar¢h 2023 J. lThtomefrcth (lItble A¢tfj¥rbes ICI•)tirwedl Total 2021 Yearto 31 Marth 2022 Fumd5 Funds Produ£irw and managementfees VErwe contributions Faclliatoi fees 8ox office income Mtmber5hip incorne 131.250 5.104 ?7.01 2.835 561 166,750 131.250 5,104 27.(MN) 2.835 166.750 4. Othertradfj •ttiNities Total Z023 Ye*F to 11 Mth X113 Funds Other 10.154 10.154 i0.iS4 10.154 UnreAvicMd RellriLd Fu•ds Funds Totsl 20Z2 Yearto 31 March 2022 Other we 339 339 339 339 S.Total Resourtes E•ehded Year to31 Mar<h 2023 Direct To1 2023 chari1¢ Arti¢•t5 ArtISlic proErarnme 238.572 238.572 338.098 338.098 576,670 576,670 RaislnE Funds Marketini and wess 238.572 338,098 576.670 Support C( Fees Salaries Overheads Dep¥ecwtion Amounts paid to Independeni Emarniner Independefit Examinati Corporotion tax 103,fA)S 154.459 73.223 61 5.750 338.098 P•Je 12
NOTES TO THE FINANUAL STATEME14TS lorthe year ended 31 March 2013 5.Ttsial Reswrces Expmded Continue Yearto31 Marth 2022 rotal 2022 CharLe AnitlS Artlstic pro8rarnme 242.427 242,427 212.935 212.935 455.361 455.361 Ilai5inRFund5 Markètingènd wess 242,427 212.935 455.361 Supptrt Costs Fees and Salane5 Overheads Depreciation Amounts paid io Independent Exaffliner Independtnt Examinabon Corporation t•x GrantAudit 179.994 24.327 5.750 1.401 212.935 Z02Z Net incornin8 resources are stated after thawng". Arnovnts paid io Independent Exarniner Independent Examination Corpofaticxl tax DepcIall0n 5.750 4.850 650 63 61 7. stsff Costs 2022 Wages and Salaries Social sÈturity£osts P2nsion Costs 154.459 9.467 4,263 168,189 122,721 6,866 3,682 133,269 There were no ernpl05 durin8the yearwhose emaluments, exclLMlinB pefisi Costs. were £60.CO) orgreat2r 12022.- nonel Expenses wwe paid tothe trustee direcw5duringthe ye4rof £nil12022.. Enll. The avera8e weekly number ofernpltyftes theyearwa5.' pport Kry Mana¢ement PersIne1 Key rnanagernent pe¥50nnel include the Trusteesand senior m¥w8ernerrt. ThÈtotal M0ve bEnEfits. irt(ludin8 pension costs. of the charity's key management pErsoMel were £175.36212022." £138,7381. Page13
IIIPROBABLE NOTES TO THE FINANOAL STATEMENTS lor theyeai ended 31 March 2023 8. TalOn The Theatre Tam Relief ¥eco8nise(l in the Statementof Fin•ncial kti¥ities represents £22,673 rdating to qualifyin¥ shows in the current year. 12022.. £nill 9. Tan8ible fixed Assets Offio Eqyiprnerrt Yotl At l April 2022 Additions 2.385 2,38S At 31 March 2023 2385 385 Oepredatlon.. At l April 2022 Charge for ¥ear 2,324 61 2,324 61 At 31 March 2023 2,385 2385 Net bookvalue-. At 31 Marth 2023 A5 at 31 Marrh 2022 61 61 10. Debtors 1023 20ZZ Trade debtor5 Prepayments and accrued income oiher debtors Theatre tax relief re¢•¥4ble 57.750 3.699 300 10,450 787 22.673 84.112 11,537 11. Creditors: Amnts1ll1£ due wtlhin one yew 2023 Z022 Trade creditor5 Accru315 and defefred income Pension. oihertaxes and sooal security tosts oihei creditOfS 28.195 5,750 21.113 1.913 56.971 20.811 6.760 5,985 33.556 Included wtihin pension. other taxes and social se£uYity costs paYae abDve 15 an amount of £2,77212D22.. £1.7411 of ouistandiDB pension coniribuiions ai year end. Page 14
IIIPROBABLE NOTES TO THE FINANaAL STATEMEpirs for theyelr endeil 31 Marth 2023 12. fteserye5 Ye¥ to 31 M•r¢h 2023 At 1st Aprd IOZ2 Inwn¥nK Resources Ae¥ouru5 Ewnded Iraxati¢)hl I Rel1 At 315t Marth 2023 Untestri¢ted Fund General re5er¥e 163,561 S45.192 1576.6701 22.673 158.756 Total unrestrfrted lunds 163.561 549,192 1576.6701 22,673 158.756 Re5trirfed Fund5.' Tot•1 rem¢d progrmme lunds Total funds 163.561 549.192 1576.6701 22,673 158.7S6 Year to JI Marth 2022 At Isi 4april 2021 Irbtomim¢ Re50ur¢es (raM*ionl/ Relief At 31st Marth 2022 ExpEnd¢d Unrestrided Funds: General reserve 12Q.510 398.412 1355.3611 163.561 Total unie#rieted fuftds 120.510 398.412 1355.3611 163,561 Re5trirted Funds: 111 Garfield Weston Foundatic I.000 li).)0) Total r¢stricled proBrarnme lund5 I.000 IIiK),0001 Totsl fvnd5 220,510 398.412 1455.3611 163.561 111 This grant relates to a number of different specific projetts and the the costs related io these project5. The projects include Improbable the Mysic41, Bambino di8ltal producti. P48 15
IMPROBABLE NOTES TOTHE FINANOAL STATEMENTS for the ytar ended 31 Mtth 2023 IJ. Anyy5 01 net assets between fvnd5 Umre51rided Funds Aestrkted Funds Totsl 2023 Fixed assets Net current a$5ets 158.7S6 158,756 IS8.756 158,756 Funds Ae5tri(ted Funds Total Z021 Fixed assets Net current 35sets 61 61 163.500 163.srKI 163,561 163.561 14. Related PartyTr4n5adions In the year to 31 March 2023 there wete no related party transactKffiS. In 2022. there were also no related party transactions. P4e16