Company Registration Number - 08561272
The Charity Registration Number is :- 1155695
## IMPROBABLE
Report and Accounts
31 March 2025
## **IMPROBABLE**
## **Report and accounts for the year ended 31 March 2025**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of directors' responsibilities**||9|
|**Independent Examiner's Report**||11|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||13|
|Statement of total recognised gains and losses||15|
|Movements in funds||15|
|Income and Expenditure account||16|
|**Balance sheet**||17|
|**Cash flow statement**||18|
|**Notes to the accounts**||19|
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
The Trustees present their Report and Accounts for the year ended 31 March 2025, 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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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## **The following persons served as Trustees during the year ended 31 March 2025 :-**
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_**|
|---|---|---|
|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||
|P Mayers|||
|E Murray|||
|Y Subzposh|04 June 2024||
|E Whyman|07 March 2024||
|B Yeoh|||
At the Annual General Meeting P Clarke and N Freedman retire as trustees.
All the trustees are also members of the charity.
## **Chair’s Introduction to the Trustees Report**
Improbable’s activity during the 2024/2025 financial year was extremely busy, with several remounted productions, an impactful residential offer and the development of new programmes of work. Across the year, Improbable reached over 25,000 audience members and participants with their activity across the world. We spent this year learning to balance our commitment to making world-class theatre in national and international partnerships with our determination to put down meaningful roots in our new home in Kent. We navigated some significant ill-health within the team with adaptability, compassion and resilience.
**Production highlights included** : _The Hours_ (Metropolitan Opera and The Philadelphia Orchestra) which was remounted to continued acclaim at Metropolitan Opera, New York. The radically inclusive _Perfect Show For Rachel_ (co-produced with Zoo Co Theatre) was remounted for a significant run at the Brighton Festival and then the Barbican to serious critical success and an audience of over 3000. _PSFR_ included a workshop programme called _Perfect Worlds_ which works with learning disabled people to create their own perfect show. _My Neighbour Totoro_ was re-rehearsed with a new cast for a run at the Gillian Lynne in London’s West End. The production opened with tremendous fanfare and acclaim in late March and is showing promising signs of longevity. Improbable signed a reasonable contract with the RSC, ensuring a modest income if the show does as well as expected.
As part of **European Capital of Culture** , Improbable spent a week in South Estonia (Talin and Tartu) delivering improvisational workshops with mental health practitioners, to explore how improve can be a support tool in environments beyond theatre.
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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
**Residencies included:** _Winter Arts Leaders Residency_ – Improbable held their first ever residency for arts leaders at Bore Place in Kent, using our unique practice to support people to explore alternative leadership models. It was particularly attractive to leaders of small and micro-companies who can feel isolated and unsupported in our sector.
_‘Go on this course, it will change your life!_ ’ - Winter Arts Leaders Participant 2024.
_Summer School_ – Improbable held their second Summer School at Bore Place in Kent, this year with a focus on working from place and your surroundings. Delivered in collaboration with Sarah Wright. _“Improbable's summer school program will feed your body, mind, heart, and soul!”_ – Participant 2024
**Other development activities included:** _Through the Door_ - a weekly workshop programme for women and non-binary people looking to develop
their improvisational practice which was relaunched this year and presented by ClerkinWorks and supported by Shakespeare’s Globe – and _Improbable Sessions_ – Improbable’s improvised music sessions which is part gig, part ‘Ted Talk’ with an expert in their field – all improvised. Improbable presented _Improbable Sessions_ at Tunbridge Wells Puppetry Festival and Folkestone Quarterhouse.
## **Organisational Development**
Improbable’s _Open Space For Hire_ strand has its strongest client base to date and is continuing to deliver experiences both in and beyond the arts.
As of October 2024 and as part of the Arts Council England National Portfolio Organisation’s Transfer Programme, Improbable are now formally based at Bore Place in Kent. This financial year saw the completion of the feasibility funding for this transfer and was a year of discovery and of open conversations between the two organisations to establish whether there is enough mutual interest to pursue a long-term creative partnership. Improbable continues to explore a range of options for a creative home in Kent as well as actively embedding the organisation and its groundbreaking practice within the artistic community of Kent.
## **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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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## _**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 2025. 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.**_
In the short term, Improbable will continue to deliver a programme of productions, and artist skills development opportunities, while laying the groundwork for our new home at Bore Place in Kent. This will include making shows with co-producing partners, expanding our applied improvisation practice, and deepening our work in holding democratic spaces through Open Space Technology. Alongside this, we will focus on building organisational capacity, partnerships, and financial resilience to sustain these activities in a challenging economic and cultural environment.
In the longer term, our objectives are centred on the creation and development of The Gathering, a new permanent base for our work at Bore Place. The Gathering will enable us to transition from a focus on project delivery to providing spaces, opportunities, and skills for others, supporting a new model of leadership and collaboration in the arts.
These aims are underpinned by a commitment to remaining responsive to the wider social and economic context, including the cost-of-living crisis, changes in cultural policy, and other ongoing social, political and economic factors having an impact on audiences and practitioners.
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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## _**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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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## _**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 2024/2025 financial year was extremely busy, with several remounted productions and the development of new programmes of work. Across the year, Improbable reached over 25,000 audience members and participants with their activity across the world.
## **Key activity**
• _The Hours_ (Metropolitan Opera and The Philadelphia Orchestra) was remounted at Metropolitan Opera, New York.
• _Perfect Show For Rachel_ (Zoo Co Theatre) was remounted at Brighton Festival and the Barbican to critical success and an audience of over 3000 across a three week run. _PSFR_ included a workshop programme called _Perfect Worlds_ which works with learning disabled people to create their own perfect show.
• As part of European Capital of Culture, Improbable spent a week in South Estonia (Talin and Tartu) delivering improvisational workshops with mental health practitioners, to explore how improve can be a support tool in environments beyond theatre.
• _Winter Arts Leaders Residency_ – Improbable held their first ever residency for arts leaders at Bore Place in Kent, using our world class practice to support people to explore alternative leadership models. _‘Go on this course, it will change your life!_ ’ - Winter Arts Leaders Participant 2024
• _Summer School_ – Improbable held their second Summer School at Bore Place in Kent, this year with a focus on working from place and your surroundings. Delivered in collaboration with Sarah Wright. _“Improbable's summer school program will feed your body, mind, heart, and soul!”_ – Participant 2024
• _My Neighbour Totoro_ spent January – March in rehearsals for a run at the Gillian Lynne in London’s West End. The production opened in late March to critical success and continues today.
• _Through the Door_ is a weekly workshop programme for women and non-binary people looking to develop their improvisational practice. This programme was relaunched this year and was presented by ClerkinWorks and supported by Shakespeare’s Globe.
• _Improbable Sessions_ – Improbable’s improvised music sessions in which is part gig, part Ted Talk with an expert in their field – all improvised. Improbable presented _Improbable Sessions_ at Tunbridge Wells Puppetry Festival and Folkestone Quarterhouse.
## **Ongoing**
• Improbable’s Open Space For Hire strand has its strongest client base to date and is continuing to deliver work both in and externally to the arts.
• As of October 2024 and as part of the Arts Council England National Portfolio Organisation’s Transfer Programme, Improbable are now based at Bore Place in Kent. This financial year saw the completion of the feasibility funding for this transfer and Improbable continues to develop plan for a home in Kent as well as embedding the organisation within the artistic community of Kent.
## _**Resources used in the activities undertaken during the year.**_
During the year, resources were allocated across various activities to support our mission. £347,208 was dedicated to Projects and Productions, emphasizing our commitment to making excellent theatre. Marketing and PR expenses totalled £11,716, focused on raising awareness and engaging with our community. Salaries, amounting to £234,832, reflect our investment in skilled staff who drive our programs forward. Additionally, £48,627 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.
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## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## **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 members 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. In the 2024/2025 AGM, we welcomed five new trustees to Improbable, all of whom have a variety of skills to support our mission moving forward.
## _**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.
## _**The charity's organisational structure.**_
Improbable is led by Co-Artistic Directors and Co-CEOs Phelim McDermott and Lee Simpson. The Senior Leadership consists of Artistic Directors, 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 management team report to the Trustees at quarterly Board meetings, which are minuted by the Administrator.
## _**How the charity makes decisions and how decisions are delegated.**_
Improbable is governed by a Board of Trustees, who hold ultimate responsibility for strategy, finance, and compliance. Day-to-day management is delegated to the Co-Artistic Directors and CEOs, supported by the Executive Director and staff. Trustees approve major financial and strategic matters, while operational decisions are taken by the leadership team and delegated staff, guided by the company’s collaborative ethos.
## _**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
## _**Setting pay and remuneration of key management personnel**_
Pay is reviewed annually, proposed by the CEOs and Executive Team, benchmarked against sector norms, and approved by the Board of Trustees.
Bankers
HSBC, 240 Lavender Hill, Clapham Junction, London, SW11 1LH
**Financial review**
7
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## _**The charity's financial position at the end of the year ended 31 March 2025**_
The financial position of the charity at 31 March 2025 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|Restricted Revenue Funds
**Total Funds**
**Net income**
Unrestricted Revenue Funds available for the
general purposes of the charity|**2025**
**£**
10,910
224,040
3,200
227,240|**2024**
**£**
57,513
196,132
20,198
216,330|
|---|---|---|
## _**Financial review of the position at the reporting date, 31 March 2025 .**_
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. In the last financial year, we readdressed our minimum reserve levels to reflect our current activity and staffing. Therefore as of March 2025, the reserves level sits at £235,540.
In 2024/2025, we received our second year of funding in the NPO 2023-2026 agreement with Arts Council England totalling £220,517, and raised a further £70k through donations and including Gift Aid. A further £90k was secured through box office income, producing and management fees, workshops and other sources. After confirming our move to Bore Place and completion of the NPO Transfer Programme, we confirmed our final year of funding in the 2023-2026 round. Turnover was lower than the previous year due to extended staff illness, which required a reshaping of the programme to accommodate the absence of key personnel.
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. The trustees have overall financial responsibility for the charity but delegated responsibility sits with the CEOs and Executive Director. The 25/26 Financial Year will see Improbable continue to develop their income streams to ensure a robust organisation who can continue to deliver their mission.
## _**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. In the last financial year, we readdressed our minimum reserve levels to reflect our current activity and staffing. Therefore as of March 2025, the unrestricted reserves level sits at £235,540.
8
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
## _**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), .
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 :-
9
## **IMPROBABLE**
Company Registration Number - 08561272
## **Trustees' Annual Report for the year ended 31 March 2025**
- 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 13 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 7 November 2025.
ERICA WHYMAN OBE Director and Trustee
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## **IMPROBABLE**
## **Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 March 2025**
I report to the Trustees on my examination of the financial statements of the charitable company on pages 13 to 31 for the year ended 31 March 2025 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by 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 under the historical cost convention and the accounting policies set out on page 19.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 9, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
Since the charitable company's gross income exceeded £250,000, the charitable company's examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am an authorised member of CIPFA, which is one of the listed bodies.
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
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## **IMPROBABLE**
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
The gross income of the charitable company in the year ended 31 March 2025 appears to exceed the sum specified in Section 145(3) of the Act, namely £250000, and that I am qualified to act as Independent Examiner in accordance with that section by virtue of my being a qualified member of CIPFA;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination;
have not been prepared in accordance with the methods and principles set out in 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).
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 financial statements to be reached.
## **Signed:-**
Matthew Brown - Independent Examiner
CIPFA
Studio 6 Bluecoat Chambers School Lane Liverpool L1 3BX
This report was signed on 7 November 2025
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## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2025**
## _**Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 March 2025, as required by the Companies Act 2006)**_
|**Income & Endowments from:**
Donations & Legacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
Charitable activities
Theatre tax relief
**Total expenditure**
**Net income for the year**
**Net income after transfers**
**Reconciliation of funds:-**
**Total funds brought forward**
**Total funds carried forward**
**Net movement in funds**|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
296,650
188,721
1,021
**486,392**
511,484
(53,000)
**458,484**
**27,908**
**27,908**
**27,908**
196,132
**224,040**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
62,500
-
-
**62,500**
79,498
-
**79,498**
**(16,998)**
**(16,998)**
**(16,998)**
20,198
**3,200**|**Current year**
**Total Funds**
**2025**
**£**
**359,150**
**188,721**
**1,021**
**548,892**
**590,982**
**(53,000)**
**537,982**
**10,910**
**10,910**
**10,910**
**216,330**
**227,240**|**Prior Year**
**Total Funds**
**2024**
**£**
311,944
319,053
1,124
**632,121**
632,598
(57,990)
**574,608**
**57,513**
**57,513**
**57,513**
158,817
**216,330**|
|---|---|---|---|---|
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 activities derive from continuing operations
## **The notes attached on pages 19 to 31 form an integral part of these accounts.**
13
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2025**
## **IMPROBABLE - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP**
|**Income & Endowments from:**
Donations & Legacies
Charitable activities
Investments
**Total income**
**Expenditure on:**
Charitable activities
Theatre tax relief
**Total expenditure**
**Net income for the year**
**Net income after transfers**
**Reconciliation of funds:-**
**Total funds brought forward**
**Total funds carried forward**
**Net movement in funds**|**Prior Year**
**Unrestricted**
**Funds**
**2024**
**£**
289,444
319,053
1,124
609,621
581,872
(57,990)
**523,882**
85,739
85,739
**85,739**
138,619
**224,358**|**Prior Year**
**Restricted**
**Funds**
**2024**
**£**
22,500
-
-
22,500
1,401
-
**1,401**
21,099
21,099
**21,099**
20,198
**41,297**|**Prior Year**
**Total Funds**
**2024**
**£**
**311,944**
**319,053**
**1,124**
**632,121**
**632,598**
**(57,990)**
**574,608**
57,513
57,513
**57,513**
**158,817**
**216,330**|
|---|---|---|---|
A Statement of Total Recognised Gains and Losses is included in these accounts as a separate primary statement
14
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2025**
## **Statement of Total Recognised Gains and Losses for the year ended 31 March 2025**
|**2025**
**£**
**Surplus for the year :-**
(42,090)
**_Income from operations before tax in the Statement of Financial Activites_**
**(42,090)**
**Net Movement in funds before taxation**
**(42,090)**
Theatre tax relief
53,000
**Funds generated in the year as shown on Statement of Financial Activities**
**10,910**
**2025**
**£**
Funds generated in the year as detailed in the SOFA
(42,090)
Resources applied on functional fixed assets
(1,083)
**Net resources available to fund charitable activities**
**(43,173)**
Net excess of income over expenditure from operations before tax
**IMPROBABLE - Resources applied in the year ended 31 March 2025 towards fixed**
**for Charity use:-**|**2025**
**£**
(42,090)
**(42,090)**
**(42,090)**
53,000
**10,910**|**2024**
**£**
(477)
**(477)**
**(477)**
57,990
**57,513**
**2024**
**£**
(477)
-
**(477)**
**assets**|
|---|---|---|
||||
## **Movements in revenue and capital funds for the year ended 31 March 2025**
## **Revenue accumulated funds**
|**Unrestricted**
**Funds**
**2025**
**£**
Accumulated funds brought forward
196,132
27,908
**224,040**
**Closing revenue funds**
**224,040**
**Summary of funds**
**Unrestricted**
**and**
**Designated funds**
**2025**
**£**
Revenue accumulated funds
224,040
Recognised gains and losses before
transfers|**Restricted**
**Funds**
**2025**
**£**
20,198
(16,998)
**3,200**
**3,200**
**Restricted**
**Funds**
**2025**
**£**
3,200|**Total**
**Funds**
**2025**
**£**
216,330
10,910
**227,240**
**227,240**
**Total**
**Funds**
**2025**
**£**
**227,240**|**Last year**
**Total Funds**
**2024**
**£**
**158,817**
57,513
**216,330**
**216,330**
**Last Year**
**Total Funds**
**2024**
**£**
216,330|
|---|---|---|---|
**The notes attached on pages 19 to 31 form an integral part of these accounts.**
15
## **IMPROBABLE - Statement of Financial Activities for the year ended 31 March 2025**
## **IMPROBABLE**
## **Income and Expenditure Account for the year ended 31 March 2025 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
**Total expenditure in the year**
Theatre tax relief
**Retained surplus for the financial year**
All activities derive from continuing operations
**Net income after tax in the financial year**
**Net income before tax in the financial year**
Investment income|**2025**
**£**
543,871
4,000
1,021
**548,892**
**548,892**
587,556
226
3,200
**590,982**
**(42,090)**
(53,000)
**10,910**
**10,910**|**2024**
**£**
627,372
3,625
1,124
**632,121**
**632,121**
629,398
-
3,200
**632,598**
**(477)**
(57,990)
**57,513**
**57,513**|
|---|---|---|
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 19 to 31 form an integral part of these accounts.**
16
## **IMPROBABLE - Balance Sheet as at 31 March 2025**
||**Notes**||**2025**||**2024**|
|---|---|---|---|---|---|
||||**£**||**£**|
|**Fixed assets**||||||
|Tangible assets|10||918||61|
|**Current assets**||||||
|Debtors|11|157,095||138,184||
|Cash at bank and in hand||165,303||180,858||
|**Total current assets**||322,398||319,042||
|**Creditors: amounts falling due within**||||||
|**one year**|12|(96,076)||(102,773)||
|**Net current assets**|||226,322||216,269|
|**The total net assets of the charity**|||**227,240**||**216,330**|
**The total net assets of the charity are funded by the funds of the charity, as follows:-**
|**Restricted funds**||||||
|---|---|---|---|---|---|
|Restricted Revenue Funds|16|3,200||20,198||
|**Unrestricted Funds**|||3,200||20,198|
|Unrestricted Revenue Funds|16|224,040|224,040|196,132|196,132|
|**Total charity funds**|||**227,240**||**216,330**|
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 12.
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 7 November 2025
**The notes attached on pages 19 to 31 form an integral part of these accounts.**
17
## **IMPROBABLE**
## **Cash Flow Statement for the year ended 31 March 2025**
|**2025**
**£**
**Cash flows from operating activities**
**A**
(15,493)
**_Cash flows from investing activities_**
Interest received
1,021
Purchase of property, plant and equipment
(1,083)
**Net cash provided by investing activities**
**B**
**(62)**
**_Cash flows from financing activities_**
**Net cash provided by financing activities**
**C**
**-**
**Overall cash provided by all activities**
**(15,555)**
**Cash movements**
Change in cash and cash equivalents from activities in the
year ended 31 March 2025
(15,555)
Cash and cash equivalents at 1 April 2024
180,858
**165,303**
Net income as shown in the Statement of Financial Activities
10,910
**_Adjustments for :-_**
Depreciation charges
226
Dividends, interest and rents from investments
(1,021)
Decrease in debtors
(18,911)
Increase in creditors, excluding loans
(6,697)
**Net cash provided by operating activities**
**A**
**(15,493)**
**Analysis of cash and cash equivalents**
**2025**
**£**
Cash in hand at for the year ended 31 March 2025
165,303
**Total cash and cash equivalents**
**165,303**
Net cash provided by operating activities as shown below
**A+B+C**
**Cash at bank and in hand less overdrafts at 31 March**
**Reconciliation of net income to net cash flow from operating activities**|**2024**
**£**
56,389
1,124
-
**1,124**
**-**
**57,513**
57,513
-
**57,513**
57,513
-
(1,124)
-
-
**56,389**
**2024**
**£**
180,858
**180,858**|
|---|---|
18
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
## **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.
19
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
## **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.
20
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
## **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**_
Tangible fixed assets are depreciated at 25% reducing balance.
## **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.
21
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025 5 Net surplus before tax in the financial year**
|**2025**
**£**
The net surplus before tax in the financial year is stated after charging:-
Depreciation of owned fixed assets
226
Pension costs
4,942
**6**
**Taxation**
**2025**
**£**
Theatre tax relief
(53,000)
**7**
**Staff costs and emoluments**
**_Salary costs_**
**2025**
**£**
Gross Salaries excluding trustees and key management personnel
226,019
Employer's National Insurance for all staff
11,812
4,942
**Total salaries, wages and related costs**
**242,773**
The estimated full time equivalent number of all staff employed in the year was
9
**_The estimated equivalent number of full time staff deployed in different activities in the year was:-_**
Engaged on charitable activities
4
Engaged on fundraising activities
1
Engaged on management and administration
4
**_The estimated full time equivalent number of all staff employed as above_**
9
Employer's operating costs of defined contribution pension schemes|**2024**
**£**
-
3,210
**2024**
**£**
(57,990)
**2024**
**£**
158,796
9,727
3,210
**171,733**
7
2
1
4
7|
|---|---|
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. (2024:none)
## **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.
22
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
**9 Deferred income - Unrestricted and Designated funds**
|**_Current Year_**
Show and event income in advance
**Total**
**These deferrals are included in creditors**|**Opening**
**Deferrals**
**£**
16,119
16,119|**Released**
**from prior**
**years**
**£**
(16,119)
(16,119)|**Received**
**less released**
**in year**
**£**
28,258
28,258
**2025**
**£**
60,496|**Deferred**
**at year end**
**£**
60,496
60,496
**2024**
**£**
16,119|
|---|---|---|---|---|
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 2024
Additions
**At 31 March 2025**
**Depreciation**
At 1 April 2024
Charge for the year
**At 31 March 2025**
**Net book value**
**At 31 March 2025**
**At 31 March 2024**
**11 Debtors**
Trade debtors
Prepayments and accrued income
Other debtors|-
-
**-**|**Equipment**
£
2,385
1,083
**3,468**
2,324
226
**2,550**
**918**
**61**|-
-
**-**
**2025**
**£**
207
32,605
124,283
**157,095**|**Total**
£
2,385
1,083
**3,468**
2,324
226
**2,550**
**918**
**61**
**2024**
**£**
15,739
52,729
69,716
**138,184**|
|---|---|---|---|---|
23
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
|**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 2024**
Surplus after tax for the year
**At 31 March 2025**|**2025**
**£**
19,637
10,060
60,496
3,947
1,936
**96,076**
**2025**
**£**
216,330
10,910
**227,240**|**2024**
**£**
36,060
43,857
16,119
3,920
2,817
**102,773**
**2024**
**£**
158,817
57,513
**216,330**|
|---|---|---|
## **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 2025**
Tangible Fixed Assets
Current Assets
Current Liabilities
**At 1 April 2024**
Tangible Fixed Assets
Current Assets
Current Liabilities|**Unrestricted**
**funds**
**£**
918
319,198
(96,076)
**224,040**
**Unrestricted**
**funds**
**£**
61
298,844
(102,773)
**196,132**|**Designated**
**funds**
**£**
-
-
**-**
**Designated**
**funds**
**£**
-
-
-
**-**|**Restricted**
**funds**
**£**
-
3,200
-
**3,200**
**Restricted**
**funds**
**£**
-
20,198
-
**20,198**|**Total**
**Funds**
**£**
**918**
**322,398**
**(96,076)**
**227,240**
**Total**
**Funds**
**£**
**61**
**319,042**
**(102,773)**
**216,330**|
|---|---|---|---|---|
24
## **IMPROBABLE**
## **Notes to the Accounts for the year ended 31 March 2025**
**16 Change in total funds over the year as shown in Note 15 , analysed by individual funds**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
**Total unrestricted and designated funds**
**_Restricted funds:-_**
Arts Council England Feasibility Funding
**Total restricted funds**
**Total charity funds**|**Funds brought**
**forward from**
**2024**
**£**
196,132
**196,132**
20,198
**20,198**
**216,330**|**Movement in**
**funds in 2025**
**£**
27,908
**27,908**
(16,998)
**(16,998)**
**10,910**|**£**
**-**
**-**
-
**-**
**-**
**Transfers**
**between**
**funds in 2025**|**Funds carried**
**forward to**
**2026**
**£**
**224,040**
**224,040**
**3,200**
**3,200**
**227,240**|
|---|---|---|---|---|
## **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
Zoo Co. Creative Limited|**Income**
**2025**
**£**
486,392
2,500
60,000
**548,892**|**Expenditure**
**2025**
**£**
(458,484)
(19,498)
(60,000)
**(537,982)**|**Other**
**Gains &**
**Losses**
**2025**
**£**
-
-
-
**-**|**Movement**
**in funds**
**2025**
**£**
**27,908**
**(16,998)**
**-**
**10,910**|
|---|---|---|---|---|
## **The purposes for which the funds as detailed in note 16 are 18 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
Zoo Co. Creative Limited
These funds are for work completing a feasibility study.
We managed a grant on behalf of Zoo Co for our co-production of Perfect Show For Rachel.
## **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.
25
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
## **20 Donations, Grants and Legacies**
|**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2025**
**2025**
**£**
**£**
**Donations and gifts from individuals**
263
-
4,000
-
54,870
-
**59,133**
**-**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2025**
**2025**
**£**
**£**
220,517
2,500
**220,517**
**2,500**
**Revenue grants from government and public bodies - Prior Year analysis**
**Prior Year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2024**
**2024**
**£**
**£**
**Prior Year**
220,517
22,500
Donations £1000 or more from 4 donors (2023: 5)
**Revenue grants from government and**
**public bodies**
**Total donations and gifts from individuals**
Arts Council of England
**Total public sector revenue grants**
Refunds from HMRC on gift aided donations
Small donations individually less than £1000|**Current year**
**Total Funds**
**2025**
**£**
**263**
**4,000**
**54,870**
**59,133**
**Current year**
**Total Funds**
**2025**
**£**
**223,017**
**223,017**
**Prior Year**
**Total Funds**
**2024**
**£**
**243,017**|**Prior Year**
**Total Funds**
**2024**
**£**
5,840
3,625
59,462
**68,927**
**Prior Year**
**Total Funds**
**2024**
**£**
243,017
**243,017**|
|---|---|---|
26
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
-
15,000
2,000
**17,000**
**Total Donations, Grants and**
**Legacies**
**296,650**
**_Prior year_**
**Unrestricted**
**Funds**
**2024**
**£**
**Total Donations, Grants and**
**Legacies**
**289,444**
**21 Income from charitable activities - Trading Activities**
**_Current year_**
**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
**Primary purpose and ancillary trading**
98,000
8,297
10,000
17,600
35,294
6,103
5,247
8,180
**188,721**
Garfield Weston
Box office income
Facilitation fees
**Total Primary purpose and ancillary**
**trading**
Venue fees and guarantees
Community and other income
Producing and management fees
**Total private sector revenue grants**
Garrick Charitable Trust
**Revenue grants and donations from non**
**public bodies**
Zoo Co. Creative Ltd
Reimbursed expenses
Corporate events and workshops
Commissions and management fees|**Current year**
**Restricted**
**Funds**
**2025**
**£**
60,000
-
-
**60,000**
**62,500**
**Restricted**
**Funds**
**2024**
**£**
**22,500**
**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
-
-
-
-
-
-
-
**-**|**Current year**
**Total Funds**
**2025**
**£**
**60,000**
**15,000**
**2,000**
**77,000**
**359,150**
**Prior Year**
**Total Funds**
**2024**
**£**
**311,944**
**Current year**
**Total Funds**
**2025**
**£**
**98,000**
**8,297**
**10,000**
**17,600**
**35,294**
**6,103**
**5,247**
**8,180**
**188,721**|**Prior Year**
**Total Funds**
**2024**
**£**
-
-
-
**-**
**311,944**
**Prior Year**
**Total funds**
**2024**
**£**
110,781
87,273
37,500
36,866
34,609
9,298
1,346
1,380
**319,053**|
|---|---|---|---|
27
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
## **22 Total Income from charitable activities**
|**_Current year_**
Total income from charitable trading
**Total from charitable activities**|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
188,721
**188,721**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
**-**|**Current year**
**Total Funds**
**2025**
**£**
**188,721**
**188,721**|**Prior Year**
**Total Funds**
**2024**
**£**
319,053
**319,053**|
|---|---|---|---|---|
## **23 Investment income**
|Bank Interest Receivable
**Total investment income**|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
1,021
**1,021**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
**-**|**Current year**
**Total Funds**
**2025**
**£**
**1,021**
**1,021**|**Prior Year**
**Total Funds**
**2024**
**£**
1,124
**1,124**|
|---|---|---|---|---|
## **24 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
Open Space
Hospitality and wellbeing
Production
Travel and Subsistence - Charitable
Activities
Space Hire
Defined contribution pension costs -
charitable activities
Fees creative and production
Employers' NI - Charitable activities
Gross wages and salaries - charitable
activities
The Gathering
Other project costs, hire and storage|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
67,569
5,319
1,653
52,811
23,471
6,317
5,208
-
16,671
13,772
1,142
**193,933**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
-
-
-
60,000
9,869
-
-
-
-
-
**69,869**|**Current year**
**Total Funds**
**2025**
**£**
**67,569**
**5,319**
**1,653**
**52,811**
**83,471**
**16,186**
**5,208**
**-**
**16,671**
**13,772**
**1,142**
**263,802**|**Prior 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**|
|---|---|---|---|---|
28
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
|**_Prior Year_**
**Total direct spending**
Travel and Subsistence - Charitable
Activities
Fees creative and production
Hospitality and wellbeing|**Prior Year**
**Unrestricted**
**Funds**
**2024**
**£**
97,936
123,943
2,576
**347,208**|**Prior Year**
**Restricted**
**Funds**
**2024**
**£**
356
250
741
**1,347**|**Prior Year**
**Total Funds**
**2024**
**£**
**98,292**
**124,193**
**3,317**
**349,448**|
|---|---|---|---|
## **25 Expenditure on charitable activities - Charitable trading**
|**_Current Year_**
Reallocated from support costs
**Total charitable trading costs**
**26**
**_Current Year_**
**_Employee costs not included in direct costs_**
**_Premises Expenses_**
Other fees
Defined contribution pension cost -
administrative staff
Artistic Director fees
Training and welfare - staff
Employers' NI - Administrative staff
**Support costs for charitable activities**
Salaries - Administrative staff
Payroll fees and charges
Recruitment expenses
Cleaning and waste management
Rent and storage costs
Insurance
Travel and subsistence - staff|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
314,351
**314,351**
**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
148,821
3,289
6,493
2,289
503
3,301
-
15,249
76,382
9,399
-
2,863|**Current year**
**Restricted**
**Funds**
**2025**
**£**
9,629
**9,629**
**Current year**
**Restricted**
**Funds**
**2025**
**£**
9,629
-
-
-
-
-
-
-
-
-
-
-|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2025**
**2024**
**£**
**£**
323,980
279,950
**323,980**
**279,950**
**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2025**
**2024**
**£**
**£**
**158,450**
**91,596**
**3,289**
**1,568**
**6,493**
**5,464**
**2,289**
**5,020**
**503**
**-**
**3,301**
**2,545**
**-**
**1,660**
**15,249**
**-**
**76,382**
**98,987**
**9,399**
**11,569**
**-**
**446**
**2,863**
**236**|
|---|---|---|---|
29
## **IMPROBABLE**
## **Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
|**_Administrative overheads_**
9,710
-
2,186
-
7,249
-
11,716
-
200
-
-
-
**_Professional fees paid to advisors other than the auditor or examiner_**
13,473
-
118
-
-
-
**_Financial costs_**
884
-
226
-
**Support costs before reallocation**
**314,351**
**9,629**
**_Less support costs reallocated to specific activities_**
To charitable trading costs
(314,351)
(9,629)
The basis of allocation of costs between activities is described under accounting policies
**_Employee costs not included in direct costs_**
Travel and subsistence - staff
2,491
54
**231,464**
**54**
**(48,486)**
**54**
Settlement
Ticket costs
Other legal and professional
Depreciation & Amortisation in total for the period
Marketing and fundraising
Membership and subscriptions
Telephone, internet and IT costs
Postage, stationery and office sundries
Bank charges
**_Support costs before reallocation_**
Accountancy fees other than examination
or audit fees
Legal fees
**Total support costs - Prior Year**|**9,710**
**7,835**
**2,186**
**2,564**
**7,249**
**5,578**
**11,716**
**9,521**
**200**
**946**
**-**
**21,988**
**13,473**
**1,500**
**118**
**4,114**
**-**
**5,750**
**884**
**1,063**
**226**
**-**
**323,980**
**279,950**
**(323,980)**
**(279,950)**
**-**
**-**
**2,545**
**231,518**
**(48,432)**|
|---|---|
## **27 Other Expenditure - Governance costs**
|**_Current Year_**
Independent Examiner's fees
**Total Governance costs**|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
3,200
**3,200**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
**-**|**Current year**
**Total Funds**
**2025**
**£**
**3,200**
**3,200**|**Prior Year**
**Total Funds**
**2024**
**£**
**3,200**
**3,200**|
|---|---|---|---|---|
30
## **IMPROBABLE**
**Detailed analysis of income and expenditure for the year ended 31 March 2025 as required by the SORP 2015**
**28 Total Charitable expenditure**
|**28 Total Charitable expenditure**|||||
|---|---|---|---|---|
|**_Current Year_**
Total direct spending
Total charitable trading costs
Total Governance costs
**Total charitable expenditure**
**_Prior Year_**
Total direct spending
Total charitable trading costs
Total support costs
Total Governance costs
**Total charitable expenditure**
**29 Taxation**
Theatre Tax Relief
Theatre tax relief - prior year adjustments
**Total taxation costs**|**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
193,933
314,351
3,200
**511,484**
**Prior Year**
**Unrestricted**
**Funds**
**2024**
**£**
347,208
279,950
(48,486)
3,200
**581,872**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
69,869
9,629
-
**79,498**
**Prior Year**
**Restricted**
**Funds**
**2024**
**£**
1,347
-
54
-
**1,401**|**Current year**
**Total Funds**
**2025**
**£**
**263,802**
**323,980**
**3,200**
**590,982**
**Prior Year**
**Total Funds**
**2024**
**£**
**349,448**
**279,950**
**-**
**3,200**
**632,598**|**Prior Year**
**Total Funds**
**2024**
**£**
**349,448**
**279,950**
**3,200**
**632,598**|
||**Current year**
**Unrestricted**
**Funds**
**2025**
**£**
(53,000)
-
**(53,000)**|**Current year**
**Restricted**
**Funds**
**2025**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2025**
**£**
**(53,000)**
**-**
**(53,000)**|**Prior Year**
**Total Funds**
**2024**
**£**
**(58,606)**
**616**
**(57,990)**|
31