## **UNDERWIRED** The Chimes, 4 Astaire Avenue, Eastbourne, East Sussex, BN22 8UN Mrs Sarah Price SLP Advisory Limited T/A SLP Accountants 126 Wish Hill Eastbourne East Sussex BN20 9HL 15 October 2025 Dear Sirs We confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation, sufficient to satisfy ourselves that we can properly make each of the following representations to you, in connection with your examination and preparation of the charity’s financial statements for the year ended 31 March 2025. - 1 We acknowledge, as trustees our collective responsibility under the Charities Act 2011 for presenting financial statements, which give a true and fair view and confirm that we have approved the financial statements for the year ended 31 March 2025. We also acknowledge our responsibility for making accurate representations to you. All the accounting records have been made available to you for the purpose of your assignment and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all trustee and management meetings, have been made available to you. - 2 We confirm that the charity is eligible for an independent examination of its financial statements, and that there are no circumstances which we should draw to your attention which would invalidate this eligibility. We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK). - 3 We confirm that the accounting policies and estimation techniques adopted for the preparation of the financial statements are the most appropriate to the circumstances in which the charity operates. - 4 All grants, donations and other incoming resources, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions during the period in the application of such incoming resources. - 5 Other than those disclosed in the financial statements we are not aware of any material liabilities, provisions, contingent liabilities, contingent assets or contracted for capital commitments that need to be provided for or disclosed in the financial statements. - 6 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets except as disclosed in the notes to the financial statements. - 7 Other than those disclosed in the financial statements, the charity has not entered into any transactions or has balances outstanding involving trustees, officers or other related parties, which require disclosure under the law or the financial reporting framework adopted, including the Charities SORP. If relevant, appropriate disclosure has been made of the control of the charity. - 8 We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect errors or fraud, and have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud. We are unaware of any irregularities, including fraud and suspected fraud, involving management, employees or others who have significant roles in internal control, or those employed by the charity where the fraud could have a material effect on the financial statements. No allegations of such irregularities or breaches have come to our notice. - 9 We are unaware of any breaches or possible breaches of statute, regulations, contracts, agreements or the charity’s constitution which might result in the charity suffering significant penalties or other loss. No allegations of such irregularities or breaches have come to our notice. We confirm that the charity has had no non-routine communication with Charity Commission during or since the period of which you are unaware. - 10 We have reviewed the affairs of the charity and confirm that no income is subject to income or capital gains tax. We have also reviewed the VAT treatment in relation to contractual services provided by the charity and confirm that VAT has been correctly accounted for - 11 The financial statements have been prepared on the going concern basis as we believe that adequate cash resources will be available to cover the charity’s requirements for working capital and capital expenditure for at least the next twelve months. We are not aware of any other factors which could put into jeopardy the charity’s going concern status during or beyond this period. - 12 There have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly. - 13 We confirm that the charity has adequate procedures in place to identify intangible income and all intangible income has been appropriately valued and included in the financial statements. Yours faithfully Mr P N Martin Signed on behalf of the board of trustees Oct 15, 2025 **REGISTERED CHARITY NUMBER: 1180997** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 March 2025** **for** **UnderWired** SLP Advisory Limited 126 Wish Hill Eastbourne East Sussex BN20 9HL **UnderWired** **Contents of the Financial Statements for the Year Ended 31 March 2025** **----- Start of picture text -----**
Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13
Detailed Statement of Financial Activities 14
**----- End of picture text -----**
**UnderWired** **Reference and Administrative Details for the Year Ended 31 March 2025** **----- Start of picture text -----**
TRUSTEES Mrs V Cooke
Mr M N H Price
Mr P N Martin
Mr G S Cooke
Ms S Hazlewood
Ms M E Garrett
REGISTERED OFFICE The Chimes
4 Astaire Avenue
Eastbourne
East Sussex
BN22 8UN
REGISTERED COMPANY NUMBER 01180997 (England and Wales)
REGISTERED CHARITY NUMBER 1180997
INDEPENDENT EXAMINER SLP Advisory Limited
126 Wish Hill
Eastbourne
East Sussex
BN20 9HL
**----- End of picture text -----**
Page 1 **UnderWired** ## **Report of the Trustees for the Year Ended 31 March 2025** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** During the year we reviewed and redefined our aims and objectives with the Charity Commission to ensure they more accurately reflect the scope and impact of our work. Our updated constitution now highlights our commitment to the advancement of the arts and the promotion of equality and diversity. ## Specifically, our objectives are: - Actively support comprehensive access to live theatre and the arts, particularly in communities where opportunities are limited. - Empower and provide meaningful opportunities for children with disabilities and/or from disadvantaged backgrounds. - Remove both physical and financial barriers that prevent individuals from disadvantaged circumstances accessing live theatre and the arts. - Create pathways into the arts by offering opportunities and experience for people from underrepresented groups who are seeking to develop careers in this field. ## **Public benefit** In shaping our objectives and planning our activities, the trustees have given consideration to the duties laid down by The Charity Commission and set out in section 17(5) of the Charities Act 2011 to have due regard to public benefit. ## **ACHIEVEMENTS AND PERFORMANCE** - Engaged 80 children weekly in two Musical Theatre Club after-school sessions, with new secondary school partnership at Eastbourne Academy. - Successful funding awards totalling £82,600+, including BBC Children in Need (£45,000 over 3 years) and the Postcode Society Trust (£23,000). - Expanded creative experiences for participants, including a trip for 80 children to see Chitty Chitty Bang Bang and provision of branded MTC t-shirts through Asda Foundation support. - Strengthened organisational leadership with the formal appointment of Artistic Director, supported by £5,000 from Comic Relief/Groundwork. - Professionalised financial management, appointing Zoe Davis as bookkeeper and engaging Alpha Payroll for staff payroll. - Advanced Sunnyside Project research, engaging with retirement home residents and specialist dementia wards to inform a new inclusive musical. - Enhanced accessibility and transparency, updating the website with policies, schedules, and joining instructions, and revising the governing document to reflect our inclusive arts objectives. ## Website update Our website was updated to provide clear and accessible information about our after-school club, ensuring families can easily find details about activities, schedules, and joining instructions. In addition, all essential organisational policies have been uploaded, supporting transparency, safeguarding, and compliance with best practice. ## **FINANCIAL REVIEW** Cash in the bank on 31 March 2025 was £60,606 From the 5th April 2024 to 31st March 2025: Expenditure of £35,973 Income of £64,858 ## Income BBC Children in Need - £15,000.00 Postcode Society Trust - £23,000.00 Sussex Community Foundation - £5,000.00 Arts Council England - £3,000.00 Asda Foundation - £400.00 Comic Relief / Groundwork - £2,500.00 Individual donations - 13,428.00 Summer camp - £2,530.00 Page 2 **UnderWired** ## **Report of the Trustees for the Year Ended 31 March 2025** ## **FUTURE PLANS** UnderWired Theatre is committed to building on its successes and addressing key challenges in the coming year. Our priorities for 2025-2026 include: - Sustaining the Musical Theatre Club securing funding to ensure the continuation of our popular Musical Theatre Club for the 2025/26 academic year, providing ongoing opportunities for children and young people to engage in creative performance. - Maintaining the Artistic Director role raising funds to support the continued employment of our Artistic Director, whose role is central to the growth and stability of our organisation. - Producing a New Family Summer Musical generating financial support to develop and stage an exciting, brand-new family summer musical in 2026, broadening our reach and engaging local communities. - Exploring Dedicated Theatre Space continuing our search for suitable premises in the Eastbourne area to establish a permanent, dedicated theatre space, which would enhance our capacity for workshops, performances, and community engagement. Through these strategic initiatives, UnderWired Theatre aims to strengthen its sustainability, enrich creative opportunities for our participants, and increase our presence within the local community. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** UnderWired is a charitable incorporated organisation governed by its constitution dated 9 July 2018, and is registered with the Charity Commission for England and Wales as Registered Charity 1180997. The principal address of the charity is The Chimes, 4 Astaire Avenue, Eastbourne, East Sussex, BN22 8UN. ## **Recruitment and appointment of new trustees** The first Trustees are those listed in its constitution dated 9 July 2018. There must be at least two Trustees and there is no maximum number of the Trustees. Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## **Decision making** Any decision is taken either at a meeting of the charity trustees; or by resolution in writing or electronic form agreed by a majority of all of the charity trustees, which may comprise either a single document or several documents containing the text of the resolution in like form to which the majority of all of the charity trustees has signified their agreement. Approved by order of the board of trustees on ............................................. and signed on its behalf by: Oct 15, 2025 .............................................................................. Mr P N Martin - Trustee Page 3 **Independent Examiner's Report to the Trustees of** **UnderWired** ## **Independent examiner's report to the trustees of UnderWired ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed. Sarah Louise Price ACA SLP Advisory Limited 126 Wish Hill Eastbourne East Sussex BN20 9HL Oct 23, 2025 Date: ............................................. Page 4 **UnderWired** ## **Statement of Financial Activities for the Year Ended 31 March 2025** |**Unrestricted**
**Restricted**
**fund**
**funds**
**Notes**
**£**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
-
15,958
**Charitable activities**
Rainbow Rae
-
1,000
General
3,500
-
Musical Theatre Club
-
44,400
**Total**
3,500
61,358
**EXPENDITURE ON**
**Charitable activities**
3
Sunnyside theatre production
-
-
Rainbow Rae
-
-
General
9,422
-
Musical Theatre Club
-
22,827
Summer camp
-
3,724
**Total**
9,422
26,551
**NET INCOME/(EXPENDITURE)**
(5,922)
34,807
**Transfers between funds**
11
(954)
954
**Net movement in funds**
(6,876)
35,761
**RECONCILIATION OF FUNDS**
Total funds brought forward
11,145
20,064
**TOTAL FUNDS CARRIED FORWARD**
4,269
55,825|**2025**
**Total**
**funds**
**£**
15,958
1,000
3,500
44,400
64,858
-
-
9,422
22,827
3,724
35,973
28,885
-
28,885
31,209
60,094|**2024**
**Total**
**funds**
**£**
4,763
19,169
8,841
14,390
47,163
16
91,528
6,604
10,899
-
109,047
(61,884)
-
(61,884)
93,093
31,209| |---|---|---| The notes form part of these financial statements Page 5 ## **UnderWired** ## **Balance Sheet 31 March 2025** |**Unrestricted**
**Restricted**
**fund**
**funds**
**Notes**
**£**
**£**
**FIXED ASSETS**
Tangible assets
9
-
-
**CURRENT ASSETS**
Cash at bank
4,781
55,825
**CREDITORS**
Amounts falling due within one year
10
(512)
-
**NET CURRENT ASSETS**
4,269
55,825
**TOTAL ASSETS LESS CURRENT LIABILITIES**
4,269
55,825
**NET ASSETS**
4,269
55,825
**FUNDS**
11
Unrestricted funds:
General fund
Restricted funds:
Sunnyside
Musical Theatre Club
**TOTAL FUNDS**|**2025**
**Total**
**funds**
**£**
-
60,606
(512)
60,094
60,094
60,094
4,269
11,284
44,541
55,825
60,094|**2024**
**Total**
**funds**
**£**
217
31,441
(449)
30,992
31,209
31,209
11,145
13,484
6,580
20,064
31,209| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. Oct 15, 2025 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Mr P N Martin - Trustee The notes form part of these financial statements Page 6 **UnderWired** **Notes to the Financial Statements for the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Financial reporting standard 102 - reduced disclosure exemptions** The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **Going concern** At time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations are recognised in the year in which the charity is entitled to and certain of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year. Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services of equivalent economic benefit on the open market; a corresponding amount is the recognised in expenditure in the period of receipt. Grants are recognised on an accruals basis, accounted for in relation to the period to which they relate. Where grants are received during the period under review but relate to a later period, the amount is deferred under the grants in advance in the Balance Sheet. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 25% on reducing balance Tangible fixed assets are included at cost less depreciation and impairment. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. continued... Page 7 **UnderWired** **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Financial instruments** The charity has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments" of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously. ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **2. DONATIONS AND LEGACIES** |Donations
Admissions|**2025**
**£**
15,958
-
15,958|**2024**
**£**
839
3,924
4,763| |---|---|---| ## **3. CHARITABLE ACTIVITIES COSTS** |General
Musical Theatre Club
Summer camp|**Support**
**Direct**
**costs (see**
**Costs**
**note 4)**
**Totals**
**£**
**£**
**£**
7,645
1,777
9,422
22,827
-
22,827
3,724
-
3,724
34,196
1,777
35,973| |---|---| continued... Page 8 **UnderWired** **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** ## **4. SUPPORT COSTS** **----- Start of picture text -----**
||||| |---|---|---|---| |Governance| |Finance|costs|Totals| |£|£|£| |General|217|1,560|1,777| **----- End of picture text -----**
Governance costs include £516 (2024: £475) payable to the independent examiner for examination of the accounts. ## **5. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): **----- Start of picture text -----**
|||| |---|---|---| |2025|2024| |£|£| |Depreciation - owned assets|217|317| **----- End of picture text -----**
## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **7. STAFF COSTS** **----- Start of picture text -----**
|||| |---|---|---| |2025|2024| |£|£| |-| |Wages and salaries|2,028| |-| |2,028| |The average monthly number of employees during the year was as follows:| |2025|2024| |Staff|1|-| **----- End of picture text -----**
No employees received emoluments in excess of £60,000. ## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** **----- Start of picture text -----**
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |fund|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|158|4,605|4,763| |Charitable activities| |Rainbow Rae|-|19,169|19,169| |General|8,841|-|8,841| |Musical Theatre Club|-|14,390|14,390| |Total|8,999|38,164|47,163| |EXPENDITURE ON| |Charitable activities| |Sunnyside theatre production|-|16|16| **----- End of picture text -----**
continued... Page 9 **UnderWired** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** **----- Start of picture text -----**
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£ £ £
Rainbow Rae - 91,528 91,528
General 6,604 - 6,604
Musical Theatre Club - 10,899 10,899
Total 6,604 102,443 109,047
NET INCOME/(EXPENDITURE) 2,395 (64,279) (61,884)
Transfers between funds (25,811) 25,811 -
Net movement in funds (23,416) (38,468) (61,884)
RECONCILIATION OF FUNDS
Total funds brought forward 34,561 58,532 93,093
TOTAL FUNDS CARRIED FORWARD 11,145 20,064 31,209
9. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 April 2024 and 31 March 2025 949
DEPRECIATION
At 1 April 2024 732
Charge for year 217
At 31 March 2025 949
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 217
**----- End of picture text -----**
continued... Page 10 **UnderWired** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| |---|---|---|---| |Accruals and deferred income||**2025**
**£**
512|**2024**
**£**
449| |**11.**
**MOVEMENT IN FUNDS**
**At 1/4/24**
**£**
**Unrestricted funds**
General fund
11,145
**Restricted funds**
Sunnyside
13,484
Rainbow Rae
-
Musical Theatre Club
6,580
Summer camp
-|**Net**
**movement**
**in funds**
**£**
(5,922)
(2,200)
1,000
36,961
(954)|**Transfers**
**between**
**funds**
**£**
(954)
-
(1,000)
1,000
954|**At**
**31/3/25**
**£**
4,269
11,284
-
44,541
-| |20,064|34,807|954|55,825| |**TOTAL FUNDS**
31,209|28,885|-|60,094| |Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Sunnyside
Rainbow Rae
Musical Theatre Club
Summer camp|**Incoming**
**resources**
**£**
3,500
-
1,000
57,588
2,770|**Resources**
**expended**
**£**
(9,422)
(2,200)
-
(20,627)
(3,724)|**Movement**
**in funds**
**£**
(5,922)
(2,200)
1,000
36,961
(954)| ||61,358|(26,551)|34,807| |**TOTAL FUNDS**|64,858|(35,973)|28,885| continued... Page 11 **UnderWired** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Net**
**Transfers**
**movement**
**between**
**At**
**At 1/4/23**
**in funds**
**funds**
**31/3/24**
**£**
**£**
**£**
**£**
**Unrestricted funds**
General fund
34,561
2,395
(25,811)
11,145
**Restricted funds**
Sunnyside
13,500
(16)
-
13,484
Rainbow Rae
45,032
(70,843)
25,811
-
Musical Theatre Club
-
6,580
-
6,580| |---| |58,532
(64,279)
25,811
20,064| |**TOTAL FUNDS**
93,093
(61,884)
-
31,209| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Sunnyside
Rainbow Rae
Musical Theatre Club
**TOTAL FUNDS**|**Incoming**
**Resources**
**Movement**
**resources**
**expended**
**in funds**
**£**
**£**
**£**
8,999
(6,604)
2,395
-
(16)
(16)
20,685
(91,528)
(70,843)
17,479
(10,899)
6,580
38,164
(102,443)
(64,279)
47,163
(109,047)
(61,884)| |---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Sunnyside
Rainbow Rae
Musical Theatre Club
Summer camp|**At 1/4/23**
**£**
34,561
13,500
45,032
-
-|**Net**
**Transfers**
**movement**
**between**
**At**
**in funds**
**funds**
**31/3/25**
**£**
**£**
**£**
(3,527)
(26,765)
4,269
(2,216)
-
11,284
(69,843)
24,811
-
43,541
1,000
44,541
(954)
954
-| |---|---|---| ||58,532|(29,472)
26,765
55,825| |**TOTAL FUNDS**|93,093|(32,999)
-
60,094| continued... Page 12 **UnderWired** ## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Sunnyside
Rainbow Rae
Musical Theatre Club
Summer camp|**Incoming**
**resources**
**£**
12,499
-
21,685
75,067
2,770|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(16,026)
(3,527)
(2,216)
(2,216)
(91,528)
(69,843)
(31,526)
43,541
(3,724)
(954)| |---|---|---| ||99,522|(128,994)
(29,472)| |**TOTAL FUNDS**|112,021|(145,020)
(32,999)| The purpose of each restricted finding was was as follows: Sunnyside - a new musical set in a retirement home. Funding from Arts Council England. Rainbow Rae - a new musical staged in the summer of 23 in three venues supported by the National Lottery. Musical Theatre Club - originally began Sept 23 with funding from Arts Council England. Now funding is secured from BBC Children in Need for three years (£15,000.00 per year) and £23,000.00 from the Postcode Society Trust. Summer Camp - this was a one week summer holiday club paid for by the parents of the children attending. ## **12. RELATED PARTY DISCLOSURES** During the period, key management personnel received £10,888 (2024 - £Nil) for services rendered to the charity. ## **13. DISSOLUTION** As provided by the Dissolution Regulations, the CIO may be dissolved by resolution of its members. Any decision by the members to wind up or dissolve the CIO can only be made by a resolution agreed in writing by all members of the CIO. Subject to the payment of all the CIO's debts: (a) Any resolution for the winding up of the CIO, or for the dissolution of the CIO without winding up, may contain a provision directing how any remaining assets of the CIO shall be applied. (b) If the resolution does not contain such a provision, the charity trustees must decide how any remaining assets of the CIO shall be applied. (c) In either case the remaining assets must be applied for charitable purposes the same as or similar to those of the CIO. Page 13 **UnderWired** ## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Admissions
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Insurance
Postage and stationery
Advertising
Sundries
Set, props and costumes
Actors payments
Licences
Stage venue hire
Donated tickets costs
Website costs
Travel expenses
Staff refreshments and meals
Cash float and payments
Fund raising
Research and development fees
**Support costs**
**Finance**
Depreciation of tangible fixed assets
**Governance costs**
Accountancy and legal fees
Subscriptions
Staff training
Total resources expended
**Net income/(expenditure)**|**2025**
**£**
15,958
-
15,958
48,900
64,858
2,028
429
94
102
35
1,325
22,560
16
3,932
920
151
-
404
-
-
2,200
34,196
217
1,010
446
104
1,560
35,973
28,885|**2024**
**£**
839
3,924
4,763
42,400
47,163
-
391
912
4,570
504
12,123
61,740
72
14,060
-
462
5,582
277
500
6,975
-
108,168
316
563
-
-
563
109,047
(61,884)| |---|---|---| This page does not form part of the statutory financial statements Page 14 The charitable company, UNDERWIRED, is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The financial statements were approved by the Board of Trustees and authorised for issue on OCTOBER 15[th] 2025 and were signed on its behalf by: ............................................. Mr P N Martin - Trustee