OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Company number 11103657 Charity number 1186473

Wayward Productions Ltd

(Limited by Guarantee)

Report and Financial Statements

for the year ended 31 March 2025

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2 - 3
Independent Examiner's Report 4
Statement of Financial Activities (including Income and Expenditure Account) 5 - 8
Balance Sheet 9
Notes to the Financial Statements 10 - 17

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee registered in EW - England and Wales, company number 11103657 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1186473. The company obtained charitable status on 20 November 2019.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association, the minimum number of trustees shall be 3 and is not subject to any maximum. The charity may by ordinary resolution appoint any person who is willing to act as a trustee. Trustees will serve a maximum term of 3 years in the first instance, after which they can serve another 3 years and then a subsequent further 3 years if carried in a vote at a general meeting. After a trustee's 3rd term they must retire.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The directors and trustees during the year and since the year end, were:

Directors and trustees

Prof Marcus du Sautoy Elizabeth Loudon Keerthi Kollimada

Chief executive/day to day management

Judith Dimant

Independent Examiners

Breckman & Company Ltd, 49 South Molton Street, London W1K 5LH.

Bankers

NatWest, 12 The Broadway, Southgate, London N14 6QF.

Operation address

8 Highwood Road, London N19 4PN.

Registered office

49 South Molton Street, London W1K 5LH.

1

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Trustees' Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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).

Objectives and activities

Wayward is a charitable production company, working primarily in theatre. Our charitable objectives are:

Wayward's mission is to transform the UK's theatrical landscape by bringing work from the fringes into the UK's most prestigious venues. Wayward develops work from unexpected sources, creating artistic work of excellence and of the utmost relevance, reaching the broadest cross section of the public.

Wayward will develop an imaginative Engagement Programme working with groups not usually involved with the creative arts and challenging social and financial barriers to arts access through education work and subsidised and free ticket schemes.

Our programme incorporates performances, workshops, pre and post show talks, large scale engagement projects and other training and education-based activity.

This work is created using the following overarching programming principles:

The programme aims are to present work which:

in order to develop art from understanding and appreciation and provide opportunities for education for the public benefit.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2).

2

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Trustees' Report

Achievements and performance

In Spring 2024, we finally produced PRINCESS SMARTYPANTS co-produced with the Wardrobe Ensemble which had been delayed due to the pandemic. Following rehearsals in Bristol, we toured to the Watermill Theatre Newbury, Wardrobe Theatre Bristol, ArtsDepot Finchley, and a week at the Lyric Studio Hammersmith during May Half Term 2024. The show was very successful and subsequently toured in 2025. Workshops alongside performances took place in primary schools.

Following this intense activity during the first half of the year, the second half of the year was quiet, concentrating on developing a new piece with the Royal Court Theatre, written by Armando Iannucci, and initial conversations with Sh!t Theatre about EVITA TOO for later in 2025.

Financial review

At the year-end to 31 March 2025 Wayward held reserves totalling £269,254 (2024: £307,772). The company is therefore able to fulfil our designated reserves policy, setting aside funds towards future productions and as a contingency towards overheads. The budget for the following financial year to 31 March 2026 has been agreed by the trustees to be a deficit year, as the Company develops and creates new work for future presentation.

The Reserves policy has been set by the trustees to be reviewed on an annual basis. Currently, aside from Restricted Reserves (£nil), funds are held in a designated Production Reserve of £140,000 to underwrite future production expenditure commitments for projects in development, and a designated fund of £45,000 as a contingency representing six months of budgeted overhead expenditure. The contingency fund will be held on an ongoing basis and reviewed annually by the trustees against the following year's budget.

Plans for future periods

Development of a new play by Armando Iannucci at the Royal Court, with workshops planned for 2025/26 with full presentation planned for 2027. We've identified director Daniel Raggett (Macbeth RSC) who will lead a workshop in November 2025 at the Royal Court. Themes to be explored are freedom of speech and censorship.

Development of a new version of EVITA TOO by Sh!t Theatre for a winter season at the Purcell Room, Southbank Centre in December 2025.

Recruitment of additional trustees in 2025/26.

Small company exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 5th December 2025 and signed on its behalf by

Keerthi Kollimada Trustee

3

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Independent Examiner's Report to the Trustees of Wayward Productions Ltd

I report on the accounts of the charity for the year ended 31 March 2025, which are set out on pages 5 to 17

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. ꞏ to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. ꞏ to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Graham Berry FCCA Breckman & Company Ltd Chartered Certified Accountants

49 South Molton Street London W1K 5LH

5th December 2025

4

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2025

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 6
15,646
-
Charitable activities:
Theatre - page 6
14,694
28,896
Investments
7,038
-
Other
3
1,128
-
Total
38,506
28,896
Expenditure on:
Charitable activities:
Theatre - page 7
77,024
28,896
Total
77,024
28,896
Net income/(expenditure)
4
)
(38,518
-
Reconciliation of funds:
Total funds brought forward
307,772
-
Total funds carried forward
13 14
269,254
-
2025
Unrestricted
Restricted
Total
funds
funds
£
£
£
15,646
30,304
-
43,590
184,291
7,500
7,038
4,816
-
1,128
62,082
-
67,402
281,493
7,500
105,920
239,964
7,500
105,920
239,964
7,500
)
(38,518
41,529
-
307,772
266,243
-
269,254
307,772
-
2024
Total
£
30,304
191,791
4,816
62,082
288,993
247,464
247,464
41,529
266,243
307,772

The notes on pages 10 to 17 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

5

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31 March 2025
2025
£
Incoming resources
Incoming resources from generated funds
Grants
Donations
Donations
-
Gift Aid on donations
15,646
15,646
Incoming resources from charitable activities
Theatrical income
Box office/performance fees
14,694
14,694
Project specific funding
Grants
ACE - Lottery
26,896
Royal Victoria Foundation
2,000
Donations
-
28,896
2024
£
30,304
-
30,304
184,291
184,291
-
-
7,500
7,500

6

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31 March 2025

Expenditure on charitable activities
Theatre
Production costs
Actors and directors fees
Other fees
Company pensions
Production costs
Production travel/accommodation
Marketing
Hire of equipment
Depreciation of fixtures/fittings/equipment
Support costs - page 8
Governance costs - page 8
2025
£
16,330
7,697
732
8,094
4,010
2,626
292
1,188
40,969
60,928
4,023
105,920
2024
£
85,129
38,983
2,130
35,629
1,300
6,029
7,842
1,188
178,230
66,424
2,810
247,464

7

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31 March 2025

Support and governance costs
Support costs
Office overheads
Telephone
Computer costs
Insurance
Administration costs
Salaries
Social security costs
Staff pension costs
Staff welfare
Travel/accommodation/subsistence
Printing/postage/stationery
Books/journals
Advertising
Subscriptions/licences
Website costs
Sundry expenses
Professional/financial
Legal/professional
Bank charges
Governance costs
Accountancy/consultancy
Independent examination
Board expenses
2025
£
647
490
882
55,600
162
1,294
301
594
57
-
260
83
300
190
68
-
900
2,500
623
£
2,019
58,841
68
60,928
4,023
64,951
2024
£
692
684
1,358
58,810
-
1,294
509
1,213
76
23
120
93
370
1,104
54
24
-
2,250
560
£
2,734
63,612
78
66,424
2,810
69,234

8

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Liabilities
Creditors: amounts falling
due within one year
11
Net current assets
Total assets less current
liabilities
The funds of the charity
Unrestricted funds
13
- General fund
- Designated funds
Total charity funds
Balance Sheet
31 March 2025
2025
£
64,319
209,041
273,360
)
(4,489
£
383
268,871
269,254
84,254
185,000
269,254
2024
£
62,082
266,171
328,253
)
(22,052
£
1,571
306,201
307,772
122,772
185,000
307,772

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

ꞏ The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

ꞏ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 5 December 2025 and signed on its behalf by

Keerthi Kollimada

Trustee

The notes on pages 10 to 17 form an integral part of these financial statements.

9

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice, issued October 2019, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2. Preparation of the accounts on a going concern basis.

The Trustees consider the company to have enough resources to continue operating for the foreseeable future and is therefore considered a going concern.

1.3. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

10

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

- Charitable activities

Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

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 and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.4. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Charitable activities

Theatre production costs - costs incurred in production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.5. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

11

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

1.6. Tangible fixed assets and depreciation

Individual fixed assets costing £100 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures/fittings/equipment

1.7. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

1.8. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9. 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.

1.10. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.11. Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.12. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

12

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

2. Incoming resources

The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.

3.
Other income (TTR)
Theatre Tax Relief (TTR)
4.
Net income/(ependiture) for the year is
stated after charging:
Depreciation of tangible fixed assets
Independent examiners fee
- independent examination
- other services
2025
£
1,128
2025
£
1,188
2,500
900
2024
£
62,082
2024
£
1,188
2,250
-

5. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2024 £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2024 £nil).

13

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

6.
Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension costs
2025
£
55,600
162
1,294
57,056
2024
£
58,810
-
1,294
60,104

No employee earned £60,000 or more during the year (2024 - nil).

The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £41,013 (2024 £36,892).

Staff numbers

The average numbers of employees (including casual and part time staff) during the year was made up as follows:

2025 2024
Number Number
Support 2 3

7. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £1,294 (2024 - £1,294).

8. Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The company obtained charitable status on 20 November 2019.

14

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

9.
Fixed assets - tangible assets
Cost
1 April 2024 /
31 March 2025
Depreciation
1 April 2024
Charge for year
31 March 2025
Net book values
31 March 2025
31 March 2024
10.
Debtors
Other debtors
11.
Creditors: amounts falling due
within one year
Trade creditors
Other taxation/social security
Other creditors
Accruals
Fixtures/
fittings/
equipment
£
3,564
1,993
1,188
3,181
383
1,571
2025
2024
£
£
64,319
62,082
2025
2024
£
£
1,080
-
820
19,802
55
-
2,534
2,250
4,489
22,052
Fixtures/
fittings/
equipment
£
3,564
1,993
1,188
3,181
383
1,571
2025
2024
£
£
64,319
62,082
2025
2024
£
£
1,080
-
820
19,802
55
-
2,534
2,250
4,489
22,052
1,993
1,188
3,181
383
1,571
2024
£
62,082
2024
£
-
19,802
-
2,250
22,052

12. Limited by guarantee

The company is limited by guarantee, registered in EW - England and Wales, and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £10, to the company should it be wound up. At 31 March 2025 there were 3 members.

15

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

13. Unrestricted funds Brought Incoming Outgoing Carried
forward resources resources forward
£ £ £ £
General fund 122,772 38,506 )
(77,024
84,254
Designated funds:
Production 140,000 - - 140,000
Overhead 45,000 - - 45,000
307,772 38,506 )
(77,024
269,254

Production

The production fund has been designated to underwrite production expenditure on Princess Smartypants, and any future full productions as needed.

Overhead

The overhead fund represents 6 months of overhead costs.

14. Restricted funds Incoming Outgoing Carried
resources resources forward
£ £ £
Princess Smartypants 28,896 )
(28,896
-
28,896 )
(28,896
-

Princess Smartypants

The fund is to finance the Research & Development and the Full Production phases of Princess Smartypants.

15. Analysis of net assets between funds

General
Designated
funds
funds
£
£
Fund balances at 31 March 2025
are represented by:
Tangible fixed assets
383
-
Net current assets
83,871
185,000
84,254
185,000
Total
£
383
268,871
269,254

16

Docusign Envelope ID: 08B84E86-F371-43B9-BBBC-AC6227628EA7

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2025

16. Related party transactions

During the year there were no related party transactions that required disclosure.

17