Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
Company Registration Number - 08561272
The Charity Registration Number is :- 1155695
## IMPROBABLE
Report and Accounts 31 March 2024
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Report and accounts for the year ended 31 March 2024**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of directors' responsibilities**||7|
|**Independent Examiner's Report**||9|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||11|
|Statement of total recognised gains and losses||12|
|Movements in funds||12|
|Income and Expenditure account||13|
|**Balance sheet**||14|
|**Cash flow statement**||15|
|**Notes to the accounts**||17|
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
The Trustees present their Report and Accounts for the year ended 31 March 2024, which also comprises the Directors' Report required by the Companies Act 2006.
## **Reference and administrative details**
_**The charity name.**_
The legal name of the charity is:- IMPROBABLE.
## _**The charity's areas operation and UK charitable registration.**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1155695.
. The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
## **The principal operating address, telephone number, email and web addresses of the charity are:-**
Bore Place Bore Place Road, EdenBridge, TN8 7AR Telephone * 02072404556 Email Address: office@improbable.co.uk Web address: www.improbable.co.uk The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
## **The Trustees in office on the date the report was approved were:-**
H Anglim S Daldry H Davenport F Girard P Handley N Idnani P Mayers E Murray Y Subzposh E Whyman B Yeoh
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## **The following persons served as Trustees during the year ended 31 March 2024 :-**
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:-.
|**_Name_**|**_Appointed_**|**_Resigned/Retired_**|
|---|---|---|
|P Anderson||01 July 2023|
|H Anglim|04 June 2024||
|G Bourne||13 August 2024|
|P Clarke||04 June 2024|
|S Daldry|||
|H Davenport|04 June 2024||
|N Freedman||04 June 2024|
|F Girard|||
|P Handley|||
|N Idnani|04 June 2024||
|D Knott||01 July 2023|
|P Mayers|||
|E Murray|||
|Y Subzposh|04 June 2024||
|E Whyman|07 March 2024||
|B Yeoh|||
At the Annual General Meeting P Anderson and D Knott retire as trustees.
All the trustees are also members of the charity.
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document.**_
The object for which 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.
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## _**The main activities undertaken in relation to those purposes during the year.**_
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, using Open Space technology, 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 materially 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 agency while creating and nurturing community and collective action. It creates a conversation between the tangible and the intangible, between ‘hard’ and ‘soft’ 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 political spheres.
Improbable is led by Phelim McDermott and Lee Simpson, who for over thirty years (and since 1996 with Improbable) have been developing and sharing their improvisational practice. 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 philosophies and practice of improvisation 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 business plan was updated in Summer 2024. Improbable is the only National Portfolio Organisation of Arts Council England that is solely dedicated to improvisation.
## _**The main activities undertaken during the year to further the charity's purpose for the public benefit.**_
The principal activities of the charity 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 trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public Benefit: Running a Charity (PB2)’.
## _**The short term and longer term aims and objectives.**_
* Improbable’s Open Space For Hire strand has returned to full in-person delivery and has its strongest client basis to date.
* Our annual Devoted and Disgruntled event took place at Slung Low in Leeds in March 2023 with the programming running on an ongoing basis throughout the year. * Improbable are part of Arts Council England National Portfolio Organisation’s Transfer Programme. We received £25,000 in funding in October 2023 to undertake a year long feasibility study for our move to Bore Place in Kent. This includes reviewing the company's business model, fundraising and financial planning and the feasibility of developing a capital campaign and managing the operations of a building.
* Memorandum of Understanding with Bore Place was put in place in March 2023 and consists of a 2 year period of Research and Development around the working relationship and capital project. This comes to an end in March 2025 and at the time of writing there remains a strong intention to make BP Improbable’s lasting home, but also a suite of strategic and practical risks to doing so. Improbable will need to decide if this long-term partnership is both desirable and achievable during 2025.
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## _**The charity's strategies for achieving its aims and objectives in the future.**_
Improbable’s Strategic Aims are:
* Develop improvisation as a positive tool for social change through new applications for improvisation beyond theatre. Connect people to their agency and to meaning in their lives, thereby nurturing creative communities.
- Make remarkable shows that make a difference to people’s lives, working in partnership with coproducers, audience, participants, and collaborators.
- Create and hold diverse and deeply democratic spaces that bring communities together to work on urgent issues, using Open Space Technology (OST)
* Advocate improvisation as a tool that empowers creative people so that they can in turn affect powerful change.
* Practice and share new models of leadership rooted in the ethos of improvisation that supplant the divisive, oppressive, and hierarchical structures that are in crisis.
We do this by:
* Making shows - from studio productions to outdoor spectacle, new operas to classic texts, touring the UK and internationally – all celebrating the vitality of theatre and communicating the power of improvisation. * Nurturing skills - engaging with communities, businesses and individuals through workshops and mentoring to offer skills, techniques and tools that enable and empower. Supporting our associate artists to develop their creative practice, develop their own work and find artistic autonomy.
* Research and applied practice - our ongoing research exploring improvisatory processes as tools for creative practice; and connecting our work with global improvisational practice in science, business, medicine and education through the Impro Research Labs
* Holding space - including Open Space events such as Devoted and Disgruntled and Worldwork events: creating spaces with local, national and international communities, bringing people together in deep democracy to work on urgent issues within the arts sector and beyond it.
Each strand of work underpins Improbable’s journey towards The Gathering and our new home at Bore Place. 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. Since 2008 Improbable has been the only improvisation company in Arts Council England’s National Portfolio.
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## _**How the activities undertaken during the year contributed to the achievement of the aims and objectives and the main achievements and performance of the charity.**_
Improbable’s activity during the 2023/24 financial year was extremely busy, with several new productions created and staged due to postponements from pandemic years. Improbable won Producer Of The Year at The Stage Awards 2023.
## Key activity:
* Akhnaten (ENO, LA Opera with Improbable) was remounted at Metropolitan Opera, NY which record sales for a remount production including two sold-out performances. Alongside this Improbable supported an engagement project, RA, led by Anthony Roth Costanzo with Bronx Arts Ensemble engaging young people across four boroughs in a co-created public performance series. Akhnaten was remounted again at English National Opera in Spring 2023 to sold-out shows.
- My Neighbour Totoro was remounted at the Barbican, produced by RSC and Joe Hisaishi with Improbable and Nippon TV to a sold-out run and critical and award success.
- Tao of Glass delivered performances in New York and Hong Kong in Autumn 2023.
* Improbable’s Summer School – Improbable held its inaugural Summer School at our new home of Bore Place in West Kent. This two week programme brought together a group of individuals from within and outside the arts sector to immerse themselves in a programme designed to foster creativity and leadership within their respective fields. "The process felt wholesome, and authentic - a true unfolding of how Improbable works. A display of your ways of working on show, as you told us about them. Brilliant."
* Improbaband delivered performances at Gulbenkian Arts Centre in Spring 2024.
## _**Resources used in the activities undertaken during the year.**_
During the year, resources were allocated across various activities to support our mission. £307,902, was dedicated to Projects and Productions, emphasizing our commitment to making excellent theatre. Marketing and PR expenses totalled £4,648, focused on raising awareness and engaging with our community. Salaries, amounting to £276,814, reflect our investment in skilled staff who drive our programs forward. Additionally, £55,124 was allocated to Overheads and Administration, ensuring we have the infrastructure needed for effective operations. This allocation demonstrates our commitment to responsible financial management and maximizing our impact.
## **Structure, governance and management of the charity**
## _**The methods used to recruit and appoint new charity trustees.**_
The management of the company is the responsibility of the Trustees, who are appointed under the terms of the Articles of Association and Terms of Reference. They shall be no less than three and no more than fourteen. 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 Trustees shall be eligible for re-election unless it is expressly resolved otherwise. New Trustees are proposed by the company’s Executive Team and elected with a majority vote by the Trustees. A search was undertaken in early 2024 (Q4) for new Trustees to strengthen the Board's financial, political, digital and communications skillsets. Four new Trustees and a new Chair, Erica Whyman, were appointed shortly after the end of this financial year (june 2024).
## _**The policies and procedures for the induction 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 Memorandum and Articles of Association and current company business plan. Specific training and development opportunities offered by external bodies will also be offered to individual Board members or the Board as and when appropriate.
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## _**The charity's organisational structure.**_
During 2023/2024 financial year Improbable embedded an additional team member to the Senior Leadership Team, Rachel Grunwald as Strategic Lead for The Gathering, which came into effect in June 2023. The Senior Leadership Team now consists of two Artistic Directors (who are also joint Chief Executives of the organisation), an Associate Director, an Executive Director, an Executive Producer and a Strategic Lead for The Gathering. The senior team was supported by an Open Space Producer (part time), a Fundraising Officer (part time), a Research Associate (part-time), a Finance Manager (part-time) and an Administrator (part time). The Senior Leadership Team report to the Trustees at quarterly Board meetings, which are minuted by the Administrator.
## _**The Chief Executive Officer and other senior management personnel to whom day to day management is delegated**_
Phelim McDermott & Lee Simpson, Artistic Directors and joint Chief Executives Eleanor Claughton, Executive Director Kathryn Bilyard, Executive Producer
Bankers HSBC, 240 Lavender Hill, Clapham Junction, London, SW11 1LH
## **Financial review**
## _**The charity's financial position at the end of the year ended 31 March 2024**_
The financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|Restricted Revenue Funds
**Total Funds**
Unrestricted Revenue Funds available for the
general purposes of the charity
**Net income**|**2024**
**£**
57,513
196,071
20,198
216,269|**2023**
**£**
(4,805)
158,756
-
158,756|
|---|---|---|
## _**Financial review of the position at the reporting date, 31 March 2024 .**_
In 2023/2024, we received our first year of funding in the NPO 2023-2026 agreement with Arts Council England totally £220,517, and raised a further £78k through donations and including Gift Aid. A further £309k was secured through box office income, producing and management fees, workshops and other sources. As a participant of the NPO Transfer Programme, we will be required to apply for our final year of funding in the 2023-2026 round in late 2024.
To ensure financial robustness, Improbable have replaced their previous financial systems and hired a Finance Manager dedicated to the financial administration and management of the organisation. 24/25 Financial Year will see financial systems develop further in preparation for the anticipated capital campaign.
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
## _**Policies on reserves.**_
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. During Covid-19, trustees identified an ‘absolute minimum’ level of reserves necessary for the healthy function of the organisation as £45,000, equivalent to 8 weeks’ operational costs and in line with changing guidance in the sector during the pandemic. This ‘minimum’ will be readdressed in line in 2024/2025 to account for increase in activity and staffing. As of March 2024, the reserves level sits at £196,071.
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## _**Significant events which have affected the financial performance and the financial position.**_
There were no significant events.
## _**The major risks to which the Charity is exposed and reviews and systems to mitigate them.**_
The Trustees have assessed the major risks to which the charity is exposed, and have included a risk register detailing these in their latest business plan.
## _**Factors likely to affect future financial performance .**_
There were no factors the Trustees consider likely to affect future financial performance.
## **Details of The Independent Examiner**
Matthew Brown Member of CIPFA Studio 6 Bluecoat Chambers School Lane Liverpool L1 3BX
## **Statement of the Directors' and Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2024**
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate
- to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of
- recommended practice have been followed, subject to any material
- departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
## **Method of preparation of accounts - Small company provisions**
The financial statements are set out on pages 11 to 31.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 4 December 2024.
ERICA WHYMAN OBE Director and Trustee
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2024**
## _**Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 March 2024, as required by the Companies Act 2006)**_
|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
**Income & Endowments from:**
Donations & Legacies
A1
289,444
Charitable activities
A2
319,053
Investments
A4
1,124
**Total income**
**A**
**609,621**
**Expenditure on:**
Charitable activities
B2
630,296
Theatre tax relief
B3
(57,990)
**Total expenditure**
**B**
**572,306**
**Net income for the year**
**37,315**
**Net income after transfers**
**A-B-C**
**37,315**
**37,315**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
158,756
**Total funds carried forward**
**196,071**
**SORP**
**Ref**
**Net movement in funds**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
22,500
-
-
**22,500**
2,302
-
**2,302**
**20,198**
**20,198**
**20,198**
-
**20,198**|**Current year**
**Total Funds**
**2024**
**£**
**311,944**
**319,053**
**1,124**
**632,121**
**632,598**
**(57,990)**
**574,608**
**57,513**
**57,513**
**57,513**
**158,756**
**216,269**|**Prior Year**
**Total Funds**
**2023**
**£**
312,816
236,156
220
**549,192**
576,670
(22,673)
**553,997**
**(4,805)**
**(4,805)**
**(4,805)**
163,561
**158,756**|
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts. All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations
## **The notes attached on pages 17 to 31 form an integral part of these accounts.**
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2024**
## **Statement of Total Recognised Gains and Losses for the year ended 31 March 2024**
|**Surplus for the year :-**
Net excess of income over expenditure from operations before tax|**2024**
**£**
(477)|**2023**
**£**
(27,478)|
|---|---|---|
|**_Income from operations before tax in the Statement of Financial Activites_**|**(477)**|**(27,478)**|
|**Net Movement in funds before taxation**
Theatre tax relief|**(477)**
57,990|**(27,478)**
22,673|
|**Funds generated in the year as shown on Statement of Financial Activities**|**57,513**|**(4,805)**|
|**2024**
**£**
Funds generated in the year as detailed in the SOFA
(477)
**IMPROBABLE - Resources applied in the year ended 31 March 2024 towards fixed**
**for Charity use:-**||**2023**
**£**
(27,478)
**assets**|
|**Net resources available to fund charitable activities**|**(477)**|**(27,478)**|
## **Movements in revenue and capital funds for the year ended 31 March 2024**
## **Revenue accumulated funds**
|**Unrestricted**
**Funds**
**2024**
**£**
Accumulated funds brought forward
158,756
37,315
**196,071**
**Closing revenue funds**
**196,071**
**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2024**
**£**
Revenue accumulated funds
196,071
Recognised gains and losses before
transfers|**Restricted**
**Funds**
**2024**
**£**
-
20,198
**20,198**
**20,198**
**Restricted**
**Funds**
**2024**
**£**
20,198|**Total**
**Funds**
**2024**
**£**
158,756
57,513
**216,269**
**216,269**
**Total**
**Funds**
**2024**
**£**
**216,269**|**Last year**
**Total Funds**
**2023**
**£**
**163,561**
(4,805)
**158,756**
**158,756**
**Last Year**
**Total Funds**
**2023**
**£**
158,756|
|---|---|---|---|
**The notes attached on pages 17 to 31 form an integral part of these accounts.**
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Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2024**
## **IMPROBABLE**
## **Income and Expenditure Account for the year ended 31 March 2024 as required by the Companies Act 2006**
|**_Income_**
Income from operations
Refunds from HMRC on gift aided donations
Interest receivable
**Gross income in the year before exceptional items**
**Gross income in the year including exceptional items**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Governance costs
Realised losses on disposals of social investments which are programme related
**Total expenditure in the year**
Theatre tax relief
**Retained surplus for the financial year**
**Net income after tax in the financial year**
**Net income before tax in the financial year**
Investment income|**2024**
**£**
627,372
3,625
1,124
**632,121**
**632,121**
629,398
-
3,200
-
**632,598**
**(477)**
(57,990)
**57,513**
**57,513**|**2023**
**£**
548,972
-
220
**549,192**
**549,192**
570,859
61
5,750
-
**576,670**
**(27,478)**
(22,673)
**(4,805)**
**(4,805)**|
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 17 to 31 form an integral part of these accounts.**
11
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE - Balance Sheet as at 31 March 2024**
|||**SORP**|||||
|---|---|---|---|---|---|---|
||**Note**|**Ref**||**2024**||**2023**|
|||||**£**||**£**|
|**Current assets**||B|||||
|Debtors|11|B2|138,184||84,122||
|Cash at bank and in hand||B4|180,858||131,605||
|**Total current assets**|||319,042||215,727||
|**Creditors: amounts falling due within**|||||||
|**one year**|12|C1|(102,773)||(56,971)||
|**Net current assets**||||216,269||158,756|
|**The total net assets of the charity**||||**216,269**||**158,756**|
|**The total net assets of the charity are**|**funded**|**by the**|**funds of the**|**charity, as follows:-**|||
|**Restricted funds**|||||||
|Restricted Revenue Funds|16|D2|20,198||-||
|**Unrestricted Funds**||||20,198||-|
|Unrestricted Revenue Funds|16|D3|196,071||158,756||
|**Designated Funds**||||196,071
-||158,756
-|
|**Total charity funds**||||**216,269**||**158,756**|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 10.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
ERICA WHYMAN OBE
Trustee
Approved by the board of trustees on 4 December 2024
**The notes attached on pages 17 to 31 form an integral part of these accounts.**
12
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Cash Flow Statement for the year ended 31 March 2024**
|**Cash flows from operating activities**
**A**
**_Cash flows from investing activities_**
Interest received
**_Cash flows from financing activities_**
Net cash provided by operating activities as shown below|**2024**
**£**
48,129
1,124|**2023**
**£**
(4,964)
220|
|---|---|---|
||||
|**Net cash provided by financing activities**
**C**
**Overall cash provided by all activities**
**Cash movements**
Change in cash and cash equivalents from activities in the
year ended 31 March 2024
Cash and cash equivalents at 1 April 2023
**A+B+C**
**Cash at bank and in hand less overdrafts at 31 March**|**-**
**49,253**
49,253
131,605
**180,858**|**-**
**(4,744)**
(4,744)
-
**(4,744)**|
13
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Cash Flow Statement for the year ended 31 March 2024 IMPROBABLE**
## **Cash Flow Statement for the year ended 31 March 2024 - Continued**
## **Reconciliation of net income to net cash flow from operating activities**
|Net income as shown in the Statement of Financial Activities
**_Adjustments for :-_**
Depreciation charges
Dividends, interest and rents from investments
Decrease in debtors
Increase in creditors, excluding loans
**Net cash provided by operating activities**
**A**
**Analysis of cash and cash equivalents**
Cash in hand at for the year ended 31 March 2024
Notice deposits - (less than 3 months)
**Total cash and cash equivalents**
**_At start_**
**_of year_**
Cash
131,605
Movement in deferred income
-
**Total**
131,605
**Analysis of change in net debt**|57,513
-
(1,124)
(54,062)
45,802
**48,129**
**2024**
**£**
180,858
-
**180,858**
**_Cash_**
**_Flows and_**
49,253
49,253
(16,119)
33,134|(4,805)
61
(220)
-
-
**(4,964)**
**2023**
**£**
131,605
-
**131,605**
**_At end_**
**_of year_**
180,858
49,253
(16,119)
33,134|
|---|---|---|
14
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **1 Accounting policies**
## _**Policies relating to the production of the accounts.**_
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2019, applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **Going Concern**
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 March 2024, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
## **Risks and future assumptions**
The charity is a public benefit entity.
## _**Policies relating to categories of income and income recognition.**_
## **Nature of income**
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
## **Categories of Income**
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
**Income from exchange transactions** is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
**Income from a non-exchange transaction** is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
15
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **Income recognition**
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
## **Accounting for deferred income and income received in advance**
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
## **Membership subscriptions**
The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
## _**Policies relating to expenditure on goods and services provided to the charity.**_
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
16
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **Allocating costs to activities**
Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.
## _**Policies relating to assets, liabilities and provisions and other matters.**_
## _**Tangible fixed assets**_
All tangible fixed assets are fully depreciated
## **Debtors**
Debtors are measured at their recoverable amounts at the balance sheet date.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Financial instruments including cash and bank balances**
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no designated funds
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or as implied by law.
There are no endowment funds.
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
## **3 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **4 Significance of financial instruments to the charity's position**
There are no significant implications of such matters.
17
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
|**5**
**2024**
**£**
The net surplus before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets
-
Pension costs
3,210
**6**
**Taxation**
**2024**
**£**
Theatre tax relief
(57,990)
**7**
**Staff costs and emoluments**
**_Salary costs_**
**2024**
**£**
Gross Salaries excluding trustees and key management personnel
158,796
Employer's National Insurance for all staff
9,727
Employer's operating costs of defined
contribution pension schemes
3,210
**Total salaries, wages and related costs**
**171,733**
The estimated full time equivalent number of all staff employed in the year was
7
**_The estimated equivalent number of full time staff deployed in different activities in the year was:-_**
Engaged on charitable activities
2
Engaged on fundraising activities
1
Engaged on management and administration
4
**_The estimated full time equivalent number of all staff employed as above_**
7
**Net surplus before tax in the financial year**|**2023**
**£**
61
4,263
**2023**
**£**
(22,673)
**2023**
**£**
154,459
9,467
4,263
**168,189**
6
2
-
4
6|
|---|---|
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum. (2023:none)
|Chief Executive Officer
The remuneration in the year year was
Pension contributions paid by the employer
**_Total remuneration package included in_**
**_total salaries above_**|32,204
596
32,800|-
-
**-**|
|---|---|---|
## **8 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
18
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **9 Deferred income - Unrestricted and Designated funds**
|**_Current Year_**
**Total**
**These deferrals are included in creditors**|**Opening**
**Deferrals**
**£**
-
-|**Released**
**from prior**
**years**
**£**
-|**Received**
**less released**
**in year**
**£**
(16,119)
(16,119)
**2024**
**£**
16,119|**Deferred**
**at year end**
**£**
16,119
16,119
**2023**
**£**
-|
|---|---|---|---|---|
The deferrals included in creditors relate to funding specified by the funders as relating to specific periods and represent those parts of unrestricted funds which relate to periods subsequent to the accounting year end and are treated as grants in advance, or, alternatively, where there are conditions which must be fulfilled prior to entitlement or use of the unrestricted funds by the charity .
## **10 Tangible fixed assets**
|**_Current Year_**
**Cost**
At 1 April 2023
**At 31 March 2024**
**Depreciation**
At 1 April 2023
**At 31 March 2024**
**Net book value**
**At 31 March 2024**
**At 31 March 2023**
**Debtors**
Trade debtors
Prepayments and accrued income
Other debtors|**Equipment**
£
2,385
**2,385**
2,385
**2,385**
**-**
-|**2024**
**£**
15,739
52,729
69,716
**138,184**|**Total**
£
2,385
**2,385**
2,385
**2,385**
**-**
-
**2023**
**£**
57,750
3,699
22,673
**84,122**|
|---|---|---|---|
## **11 Debtors**
19
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **12 Creditors: amounts falling due within one year**
|**12 Creditors: amounts falling due within one year**
Trade creditors
Accruals
Deferred Income - Unrestricted & designated funds
PAYE, NIC VAT and other taxes
Other creditors
**13 Income and Expenditure account summary**
**At 1 April 2023**
Surplus after tax for the year
**At 31 March 2024**|**2024**
**£**
36,060
43,857
16,119
3,920
2,817
**102,773**
**2024**
**£**
158,756
57,513
**216,269**|**2023**
**£**
28,195
5,750
-
18,341
4,685
**56,971**
**2023**
**£**
163,561
(4,805)
**158,756**|
|---|---|---|
## **14 No related party transactions**
There were no transactions with related parties in the year.
## **15 Particulars of how particular funds are represented by assets and liabilities**
|**At 31 March 2024**
**Unrestricted**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Current Assets
298,844
20,198
Current Liabilities
(102,773)
-
-
**196,071**
**-**
**20,198**
**At 1 April 2023**
**Unrestricted**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
Current Assets
215,727
-
-
Current Liabilities
(56,971)
-
-
**158,756**
**-**
**-**
**Change in total funds over the year as shown in Note 15 , analysed by individual funds**
**Funds brought**
**forward from**
**2023**
**Movement in**
**funds in 2024**
**£**
**£**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
158,756
37,315
**-**
**Total unrestricted and designated funds**
**158,756**
**37,315**
**-**
**_Restricted funds:-_**
Arts Council England Feasibility Funding
-
20,198
-
**Total restricted funds**
**-**
**20,198**
**-**
**Total charity funds**
**158,756**
**57,513**
**-**
**Transfers**
**between**
**funds in 2024**|**Total**
**Funds**
**£**
**319,042**
**(102,773)**
**216,269**
**Total**
**Funds**
**£**
**215,727**
**(56,971)**
**158,756**
**Funds**
**carried**
**forward to**
**2025**
**£**
**196,071**
**196,071**
**20,198**
**20,198**
**216,269**|
|---|---|
## **16 Change in total funds over the year as shown in Note 15 , analysed by individual funds**
20
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2024**
## **17 Analysis of movements in funds over the year as shown in Note 16**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
**_Restricted funds:-_**
Arts Council England Feasibility Funding|**Income**
**2024**
**£**
609,621
22,500
**632,121**|**Expenditure**
**2024**
**£**
(572,306)
(2,302)
**(574,608)**|**Other**
**Gains &**
**Losses**
**2024**
**£**
-
-
**-**|**Movement**
**in funds**
**2024**
**£**
**37,315**
**20,198**
**57,513**|
|---|---|---|---|---|
## **The purposes for which the funds**
## **18 as detailed in note 16 are held by the charity are:-**
## _**Unrestricted and designated funds:-**_
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and , subject to charity legislation, are free from all restrictions on their use.
## _**Restricted funds:-**_
Arts Council England Feasibility Funding
These funds are for work completing a feasibility study.
-
## **19 Ultimate controlling party**
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
21
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **20 Donations, Grants and Legacies**
|**Donations and gifts from individuals**
**Total Donations, Grants and**
**Legacies**
**A1**
Refunds from HMRC on gift aided donations
Small donations individually less than £1000
**Total public sector revenue grants**
Arts Council of England
**Total donations and gifts from**
**individuals**
**Revenue grants from government and**
**public bodies**
Donations £1000 or more from 5 donors
(2023: 3)|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
5,840
3,625
59,462
**68,927**
**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
220,517
**220,517**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
-
-
**-**
**Current year**
**Restricted**
**Funds**
**2024**
**£**
22,500
**22,500**|**Current year**
**Total Funds**
**2024**
**£**
**5,840**
**3,625**
**59,462**
**68,927**
**Current year**
**Total Funds**
**2024**
**£**
**243,017**
**243,017**|**Prior Year**
**Total Funds**
**2023**
**£**
36
-
38,129
**38,165**
**Prior Year**
**Total Funds**
**2023**
**£**
274,651
**274,651**
**312,816**|
|---|---|---|---|---|
||||||
||**289,444**|**22,500**|**311,944**||
22
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
## **21 Income from charitable activities - Trading Activities**
|**_Current year_**
**Primary purpose and ancillary trading**
**22**
**_Current year_**
Total income from charitable trading
**Total from charitable activities**
**A2**
**23 Investment income**
Bank Interest Receivable
**Total investment income**
**A4**
Reimbursed expenses
Corporate events and workshops
Commissions and management fees
Producing and management fees
Other income
Patrons
**Total Primary purpose and ancillary**
**trading**
Venue fees and guarantees
Membership income
Box office income
Facilitation fees
**Total Income from charitable activities**|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
110,781
87,273
37,500
36,866
34,609
5,500
3,798
1,346
1,380
-
**319,053**
**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
319,053
**319,053**
**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
1,124
**1,124**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
-
-
-
-
-
-
-
-
-
**-**
**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
**-**
**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
**-**|**Current year**
**Total Funds**
**2024**
**£**
**110,781**
**87,273**
**37,500**
**36,866**
**34,609**
**5,500**
**3,798**
**1,346**
**1,380**
**-**
**319,053**
**Current year**
**Total Funds**
**2024**
**£**
**319,053**
**319,053**
**Current year**
**Total Funds**
**2024**
**£**
**1,124**
**1,124**|**Prior Year**
**Total funds**
**2023**
**£**
33,822
8,903
162,600
22,667
2,139
-
494
3,000
1,500
1,031
**236,156**
**Prior Year**
**Total Funds**
**2023**
**£**
236,156
**236,156**
**Prior Year**
**Total Funds**
**2023**
**£**
220
**220**|
|---|---|---|---|---|
23
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
## **24 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
**B2a**
Space Hire
Defined contribution pension costs -
charitable activities
Fees creative and production
Employers' NI - Charitable activities
Gross wages and salaries - charitable
activities
Access
Other project costs, hire and storage
Wellbeing
Open Space
Hospitality
Production
Travel and Subsistence - Charitable
Activities|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
67,200
4,263
1,642
97,936
123,943
-
30,070
2,795
10,371
6,412
2,576
-
**347,208**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
-
-
356
250
-
-
62
-
831
741
-
**2,240**|**Current year**
**Total Funds**
**2024**
**£**
**67,200**
**4,263**
**1,642**
**98,292**
**124,193**
**-**
**30,070**
**2,857**
**10,371**
**7,243**
**3,317**
**-**
**349,448**|**Prior Year**
**Total Funds**
**2023**
**£**
**-**
**-**
**-**
**31,549**
**137,151**
**31,275**
**-**
**14,835**
**12,092**
**7,254**
**2,520**
**20,409**
**257,085**|
|---|---|---|---|---|
## **25 Expenditure on charitable activities - Charitable trading**
|**_Current Year_**
Reallocated from support costs
**Total charitable trading costs**
**B2b**|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
279,888
**279,888**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
62
**62**|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2024**
**2023**
**£**
**£**
279,950
313,835
**279,950**
**313,835**|
|---|---|---|---|
24
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
## **26 Support costs for charitable activities**
||**Current year**|**Current year**|**Current year**|**Prior Year**|
|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total Funds**|**Total Funds**|
|**_Current Year_**|**Funds**|**Funds**|||
||**2024**|**2024**|**2024**|**2023**|
||**£**|**£**|**£**|**£**|
|**_Employee costs not included in direct costs_**|||||
|Salaries - Administrative staff|91,596|-|**91,596**|**154,459**|
|Defined contribution pension cost -
administrative staff|1,568|-|**1,568**|**4,263**|
|Employers' NI - Administrative staff|5,464|-|**5,464**|**9,467**|
|Training and welfare - staff|5,020|-|**5,020**|**1,056**|
|Travel and subsistence - staff|2,491|54|**2,545**|**5,466**|
|Recruitment expenses|1,660|-|**1,660**|**1,744**|
|Artistic Director fees|98,987|-|**98,987**|**98,459**|
|**_Premises Expenses_**|||||
|Rent and storage costs|11,569|-|**11,569**|**8,912**|
|Cleaning and waste management|446|-|**446**|**350**|
|Insurance|236|-|**236**|**3,091**|
|**_Administrative overheads_**|||||
|Telephone, internet and IT costs|7,835|-|**7,835**|**6,983**|
|Postage, stationery and office sundries|2,556|8|**2,564**|**3,487**|
|Membership and subscriptions|5,578|-|**5,578**|**3,153**|
|Marketing and fundraising|9,521|-|**9,521**|**10,879**|
|Ticket costs|946|-|**946**|**663**|
|Settlement|21,988|-|**21,988**|**-**|
## _**Professional fees paid to the Auditor or Independent Examiner in addition to audit and examination fees**_
|**_fees_**||
|---|---|
|_-_
_-_
**_Professional fees paid to advisors other than the auditor or examiner_**
1,500
-
4,114
-
5,750
-
**_Financial costs_**
1,063
-
-
-
**Support costs before reallocation**
**279,888**
**62**
**_Less support costs reallocated to specific activities_**
To charitable trading costs
(279,888)
(62)
The basis of allocation of costs between activities is described under accounting policies
Bank charges
As detailed in Note 27
Accountancy fees other than examination
or audit fees
Legal fees
Depreciation & Amortisation in total for the period
Other legal and professional|**-**
**1,000**
**1,500**
**-**
**4,114**
**-**
**5,750**
**-**
**1,063**
**342**
**-**
**61**|
||**279,950**
**313,835**
**(279,950)**
**(313,835)**
**-**
**-**|
25
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
## **27 Other Expenditure - Governance costs**
|**_Current Year_**
Independent Examiner's fees
**Total Governance costs**|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
3,200
**3,200**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
**-**|**Current year**
**Total Funds**
**2024**
**£**
**3,200**
**3,200**|**Prior Year**
**Total Funds**
**2023**
**£**
**5,750**
**5,750**|
|---|---|---|---|---|
## _**Professional fees paid to the Auditor or Independent Examiner in addition to audit and examination fees**_
|Fees paid to the examiner's firm
**Total additional fees included in**
**support costs at Note 26**
All the expenditure in the prior year was unrestricted.|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
-
**-**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
**-**|**Current year**
**Total Funds**
**2024**
**£**
**-**
**-**|**Prior Year**
**Total Funds**
**2023**
**£**
**1,000**
**1,000**|
|---|---|---|---|---|
## **28 Total Charitable expenditure**
|**_Current Year_**
Total direct spending
**B2a**
Total charitable trading costs
**B2b**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**
All the expenditure in the prior year was unrestricted.
**_Prior Year_**
Total direct spending
**B2a**
Total charitable trading costs
**B2b**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
347,208
279,888
3,200
**630,296**
**Prior Year**
**Unrestricted**
**Funds**
**2023**
**£**
257,085
313,835
(25,165)
5,750
**551,505**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
2,240
62
-
**2,302**
**Prior Year**
**Restricted**
**Funds**
**2023**
**£**
-
-
-
-
**-**|**Current year**
**Total Funds**
**2024**
**£**
**349,448**
**279,950**
**3,200**
**632,598**
**Prior Year**
**Total Funds**
**2023**
**£**
**257,085**
**313,835**
**-**
**5,750**
**576,670**|**Prior Year**
**Total Funds**
**2023**
**£**
**257,085**
**313,835**
**5,750**
**576,670**|
|---|---|---|---|---|
26
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2024 as required by the SORP 2015**
|**29 Taxation**
Theatre Tax Relief
Theatre tax relief - prior year adjustments
**Total taxation costs**
**B3c**
All the expenditure in the prior year was unrestricted.
**30 Total of other expenditure**
**_Current Year_**
Theatre Tax Relief
**Total other expenditure**
**B3**
All the expenditure in the prior year was unrestricted.
**_Prior Year_**
Theatre Tax Relief
**Total other expenditure**
**B3**|**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
(58,606)
616
**(57,990)**
**Current year**
**Unrestricted**
**Funds**
**2024**
**£**
(57,990)
**(57,990)**
**Prior Year**
**Unrestricted**
**Funds**
**2023**
**£**
(22,673)
**(22,673)**|**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
-
**-**
**Current year**
**Restricted**
**Funds**
**2024**
**£**
-
**-**
**Prior Year**
**Restricted**
**Funds**
**2023**
**£**
-
**-**|**Current year**
**Total Funds**
**2024**
**£**
**(58,606)**
**616**
**(57,990)**
**Current year**
**Total Funds**
**2024**
**£**
**(57,990)**
**(57,990)**
**Prior Year**
**Total Funds**
**2023**
**£**
**(22,673)**
**(22,673)**|**Prior Year**
**Total Funds**
**2023**
**£**
**(22,673)**
**-**
**(22,673)**
**Prior Year**
**Total Funds**
**2023**
**£**
**(22,673)**
**(22,673)**|
|---|---|---|---|---|
27
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
**Activity analysis of Income and expenditure for the for the year ended 31 March 2024**
_**This analysis is classsified by activity and not by conventional nominal descriptions.**_
## **31 Analysis of income by activity**
|**SOFA ref**
Artistic Programmes
**_Summary of Total Income, including the items above_**
Charitable activities
**A2**
Donations & Legacies
**A1**
Investment income
**A4**
**A**
**_Categories of income_**
Income from exchange transactions
**Analysis of charitable expenditure by activity**
**Direct**
**costs**
**Support**
**costs**
**Grant**
**funding of**
**activities**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**_Artistic Programmes_**
Direct costs
349,448
-
-
Employee costs not included in direct cos
-
206,840
-
Premises expenses
-
12,251
-
Administrative overheads
-
48,432
-
Professional fees
-
11,364
-
Financial costs
-
1,063
-
**349,448**
**279,950**
**-**
**Income from charitable activities**
**Activity**
**Total Artistic Programmes**
**Activity**
**Total income as shown in the SOFA**|**2024**
**£**
319,053
319,053
311,944
1,124
**632,121**
632,121
**Total**
**2024**
**£**
**349,448**
**206,840**
**12,251**
**48,432**
**11,364**
**1,063**
**629,398**|**2023**
**£**
**236,156**
236,156
312,816
220
**549,192**
549,192
**Total**
**2023**
**£**
-
-
-
-
-
-
**-**|
|---|---|---|
## **32 Analysis of charitable expenditure by activity**
28
Docusign Envelope ID: 8472C8B6-55F0-4E9B-9C20-F7C55668E439
## **IMPROBABLE**
## **Activity analysis of Income and expenditure for the for the year ended 31 March 2024 Summary of charitable costs by activity**
|**Direct**
**costs**
**Support**
**costs**
**Grant**
**funding of**
**activities**
**2024**
**2024**
**2024**
**£**
**£**
**£**
Total Artistic Programmes
349,448
279,950
-
-
3,200
-
**349,448**
**283,150**
**-**
**Analysis of support and governance costs by charitable activities**
**Governance**
**Finance**
**Human**
**Activity**
**Resources **
Artistic Programmes
3,200
1,063
206,840
**33 Analysis of non charitable expenditure by activity**
**Artistic Programmes**
**_Governance costs_**
Other Expenditure - Governance costs as detailed in Note 27
Total Governance costs as detailed in
Note 27
**Total charitable expenditure**|
**Total**
**2024**
**£**
629,398
3,200
**632,598**
**Other**
**Overheads**
72,047
**Governance**
**costs**
**2024**
**£**
3,200|**Total**
**2023**
**£**
570,920
5,750
**576,670**
**Total**
283,150
**Governance**
**costs**
**2023**
**£**
5,750|
|---|---|---|
29