**REGISTERED CHARITY NUMBER: 1187346**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2024**
## **for**
## **Lung Productions CIO**
Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW
**Lung Productions CIO**
## **Contents of the Financial Statements for the Year Ended 31 March 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 11|
|**Detailed Statement of Financial Activities**|12 to 13|
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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).
## **Chair's report**
As Chair I would like to record my sincere appreciation to my fellow trustees as they continue to engage in the governance of the charity, fulfilling the charities aims and objectives and supporting the charity to grow during the second year as an Arts Council National Portfolio Organisation. Thanks to the Executive Team of Helen Monks and Matt Woodhead (Co-Directors) who continue to strive for excellence and ambition as the charity continues to develop.
Page 1
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2024**
## **OBJECTIVES AND ACTIVITIES Objectives and aims and future plans**
The objects of the CIO are:
1) We ran our Woodhill Families Group, a space for 5 families who have been bereaved by prison suicide. We ran 21 sessions, in partnership with the University of Nottingham we co-created three training resources and we ran training for social workers and staff at the Howard League;
2) We premiered our new production Woodhill, a Verbatim dance piece made with and about people who have experienced the bereavement of a loved one in prison. We performed the show at Oxford North Wall (381 audience members) in July, Summerhall Edinburgh (2,085 audience members) in August and Shoreditch Town Hall (1,107 audience members) in September / October. The show received 5 star reviews in the Guardian, What’s On Stage and The Evening Standard.
3) We continued our work as Creative Associates at the National Theatre in their Learning department on the project Speak Up. This was the second year of a three year project which sees young people co-create work with local artists in 55 schools across 9 areas of England. As part of our role we delivered artist training in each area and supported the curation of the end of year sharings.
4) We continued to run our Young Carers Creative Makers programme which saw us partner with local theatres and local young carers services in Barnsley, Wakefield and Huddersfield and run free, creative workshops for young carers during the school holidays.
5) LUNG continued to partner with Harrow Arts Centre and ran two terms of ‘Harrow Young Creatives’ - an artist development opportunity for young people 18 - 25 to experience masterclasses in different aspects of theatre and lead an intensive make week where they create their own pieces
6) From January 2024 we relaunched our weekly ‘True Stars’ groups - sessions for care experienced young people in Havering and Essex, who are co-creating a Verbatim musical with us: ‘The Children’s Inquiry’.
7) We ran an r&d of our new production ‘The Children’s Inquiry’ which will premiere next financial year. This involved working with the creative team to finalise the composition, movement and casting process
8) Three new members of the core team were recruited: a Development Manager; a Producer (Communities and Campaigns); a General Manager. These three new roles have been embedded across all company programmes throughout the year and have contributed to the significant growth in output of the company
## **Future Plans**
The main activities and achievements planned for the next financial year are;
- To continue our monthly Woodhill families group, working closely with those bereaved by prison suicide
- To continue our role as Creative Associates on the National Theatre’s Speak Up programme, supporting in the training of artists and design of end of year sharings
- To continue to run our Young Carers Creative Makers programme during school holidays across Barnsley, Wakefield and Huddersfield
- To continue to partner with Harrow Arts Centre, but in a consultation role, supporting the theatre to run the programme independently of LUNG
- To continue our weekly True Stars group, working with care experienced young people in Havering and Essex and to co-create our new Verbatim musical about the social care system for children
## **Public benefit**
The charity trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Page 2
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2024**
## **FINANCIAL REVIEW**
## **Financial position**
During the year ended 31 March 2024 income resources was £349,406 (2023: £151,350) and expenditure was £287,556 (2023: £74,750). An in year surplus of £61,850 was reported for the year ended 31 March 2024 (2023: £76,600).
At the end of the financial period (31 March 2024) the CIO held £148,726 in closing reserves, with £125,066 allocated as unrestricted funds and £23,660 as restricted funds.
Activity is budgeted and planned as per successful funding applications and venue contracts, and so reserve levels needed are low. The CIO has modest overheads to budget for, and financial commitments for overheads or staff costs do not extend beyond three months months and therefore the level of reserves, when factoring in reserves that earmarked for future projects, is appropriate against this commitment. Having reviewed future plans, the Trustees are satisfied that the company holds sufficient cash reserves to meet ongoing activity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity may by ordinary resolution appoint a person who is willing to act to be a trustee, and determine the rotation in which any directors are to retire.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1187346
## **Principal address**
4 Old Cubley Penistone S36 9AQ
## **Trustees**
Ms Z Rasheed Chair Dr S Amin Trustee Ms I J Hirst Trustee Ms G E Roche MA Trustee Ms D B Rees Trustee
## **Independent Examiner**
Ian Bragger ACA Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW
## **FUNDS HELD AS CUSTODIAN FOR OTHERS**
The charity does not hold any funds as custodian trustee for other persons or organisations.
Approved by order of the board of trustees on 29 January 2025 and signed on its behalf by:
................................................................. Ms Z Rasheed - Trustee
Page 3
## **Independent Examiner's Report to the Trustees of Lung Productions CIO**
## **Independent examiner's report to the trustees of Lung Productions CIO**
I report to the charity trustees on my examination of the accounts of Lung Productions CIO (the Charity) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention which gives me reasonable cause to believe that, in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Ian Bragger ACA
Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW
Date: 30 January 2025
Page 4
## **Lung Productions CIO**
## **Statement of Financial Activities**
## **for the Year Ended 31 March 2024**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
46
**Charitable activities**
Charitable Activities
319,900
**Total**
319,946
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
281,756
**NET INCOME**
38,190
**RECONCILIATION OF FUNDS**
Total funds brought forward
86,876
**TOTAL FUNDS CARRIED FORWARD**
125,066|Year Ended
31/3/24
Restricted
Total
fund
funds
£
£
-
46
29,460
349,360
29,460
349,406
5,800
287,556
23,660
61,850
-
86,876
23,660
148,726|Period
1/6/22
to
31/3/23
Total
funds
£
43,581
107,769
151,350
74,750
76,600
10,276
86,876|
|---|---|---|
The notes form part of these financial statements
Page 5
## **Lung Productions CIO**
## **Balance Sheet 31 March 2024**
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
6
1,470
Cash at bank
127,050
128,520
**CREDITORS**
Amounts falling due within one year
7
(3,454)
**NET CURRENT ASSETS**
125,066
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
125,066
**NET ASSETS**
125,066
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
23,660
23,660
-
23,660
23,660
23,660|2024
Total
funds
£
1,470
150,710
152,180
(3,454)
148,726
148,726
148,726
125,066
23,660
148,726|2023
Total
funds
£
-
89,076
89,076
(2,200)
86,876
86,876
86,876
86,876
-
86,876|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 29 January 2025 and were signed on its behalf by:
............................................. Ms Z Rasheed - Trustee
The notes form part of these financial statements
Page 6
**Lung Productions CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements have been prepared on a going concern basis under the historical cost convention.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a true and fair view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following Account and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Critical accounting judgements and key sources of estimation uncertainty**
No significant judgements or estimates have had to be made by the trustees in preparing these financial statements other than as described in the following accounting policies.
## **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.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid relating to prior years at the balance sheet date.
## **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.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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.
Page 7
continued...
**Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the period ended 31 March 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the period ended 31 March 2023.
## **3. STAFF COSTS**
|**STAFF COSTS**||
|---|---|
|Year Ended
31/3/24
£
Wages and salaries
95,308
Social security costs
4,282
Other pension costs
1,703
101,293|Period
1/6/22
to
31/3/23
£
4,548
-
-|
||4,548|
The average monthly number of employees during the year was as follows:
|Year Ended
31/3/24
Executive Team
2
Producer
1
3|Period
1/6/22
to
31/3/23
-
-
-|
|---|---|
No employees received emoluments in excess of £60,000.
The total amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the CIO for the year was £72,677 (2023: £nil).
Page 8
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
|**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
43,581
**Charitable activities**
Charitable Activities
107,769
**Total**
151,350
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
74,750
**NET INCOME**
76,600
**RECONCILIATION OF FUNDS**
Total funds brought forward
10,276
**TOTAL FUNDS CARRIED FORWARD**
86,876|Restricted
fund
£
-
-
-
-
-
-
-|Total
funds
£
43,581
107,769
151,350
74,750
76,600
10,276
86,876|
|---|---|---|
## **5. INDEPENDENT EXAMINERS REMUNERATION**
The trustees have decided an independent examination should be undertaken and not an audit. The charges for the independent examination during the year was £1,200 (2023: £1,200). Other services totalling £3,058 were charged by the independent examiners during the period (2023: £nil)
## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors|2024
£
353
1,117
1,470|2023
£
-
-
-|
|---|---|---|
Page 9
continued...
**Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Taxation and social security
Other creditors
There is no deferred income at the year end.
**8.**
**MOVEMENT IN FUNDS**
**Balance at**
**1st April**
**2023**
**Income**
**Expenditure**
**Transfers**
**in/out**
**Restricted funds**
Restricted grants
-
29,460
(5,800)
-
-
29,460
(5,800)
-
**Total restricted funds**
**-**
**29,460**
**(5,800)**
**-**
**Unrestricted funds**
Arts Council England - NPO
-
206,699
(206,699)
-
General
86,876
113,247
(75,057)
**Total Unrestricted funds**
**86,876**
**319,946**
**(281,756)**
**-**
**Total funds**
**86,876**
**349,406**
**(287,556)**
**-**|Taxation and social security
Other creditors
There is no deferred income at the year end.
**8.**
**MOVEMENT IN FUNDS**
**Balance at**
**1st April**
**2023**
**Income**
**Expenditure**
**Transfers**
**in/out**
**Restricted funds**
Restricted grants
-
29,460
(5,800)
-
-
29,460
(5,800)
-
**Total restricted funds**
**-**
**29,460**
**(5,800)**
**-**
**Unrestricted funds**
Arts Council England - NPO
-
206,699
(206,699)
-
General
86,876
113,247
(75,057)
**Total Unrestricted funds**
**86,876**
**319,946**
**(281,756)**
**-**
**Total funds**
**86,876**
**349,406**
**(287,556)**
**-**|2024
2023
£
£
2,254
-
1,200
2,200
3,454
2,200
**Gains/**
**(Losses)**
**Balance at**
**31st March**
**2024**
23,660
-
23,660
**-**
**23,660**
-
-
125,066
**-**
**125,066**
**-**
**148,726**|
|---|---|---|
||-
29,460
(5,800)
-||
||**-**
**29,460**
**(5,800)**
**-**
-
206,699
(206,699)
-
86,876
113,247
(75,057)||
||**86,876**
**319,946**
**(281,756)**
**-**||
||||
||**86,876**
**349,406**
**(287,556)**
**-**||
Page 10
continued...
**Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **8. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Restricted funds**
Restricted grants
**Total restricted funds**
**Unrestricted funds**
Arts Council England - NPO
General
**Total Unrestricted funds**
**Total funds**|**Balance at**
**1st June**
**2022**
**Income**
**Expenditure**
**Transfers**
**in/out**
**Gains/**
**(Losses)**
**Balance at**
**31st March**
**2023**
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**
**-**
**-**
-
-
-
-
-
-
10,276
151,350
(74,750)
86,876
**10,276**
**151,350**
**(74,750)**
**-**
**-**
**86,876**
**10,276**
**151,350**
**(74,750)**
**-**
**-**
**86,876**|
|---|---|
## **9. RELATED PARTY DISCLOSURES**
Lung Theatre Limited is a company controlled by Mr M J Stevens-Woodhead and Miss H C Monks, who are members of the key management personnel of the charity.
There were no transactions with LungTheatre Ltd in the year ended 31 March 2024. During the year ended 31 March 2023 Lung Productions CIO received a donation of £43,580 from Lung Theatre Limited.
There were no balances owed to/due from Lung Theatre Ltd at 31 March 2024 or 31 March 2023.
Page 11
## **Lung Productions CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
|**for the Year Ended**|**31 March 2024**||
|---|---|---|
|||Period|
|||1/6/22|
||Year Ended|to|
||31/3/24|31/3/23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|(2)|1|
|Donations|48|43,580|
||46|43,581|
|**Charitable activities**|||
|Other Income|66,142|66,892|
|Grants|283,218|40,877|
||349,360|107,769|
|**Total incoming resources**|349,406|151,350|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|95,308|4,548|
|Social security|4,282|-|
|Pensions|1,703|-|
|Creative fees|50,062|18,645|
|Producers fees|14,749|24,738|
|Engagement fees|3,800|250|
|Venue hire|13,191|5,100|
|Travel and accommodation|31,283|4,673|
|Workshop fees|15,955|220|
|Actor fees|35,347|400|
|Co-artistic director fees|-|8,000|
|Fundraiser fees|5,100|500|
||270,780|67,074|
|**Support costs**|||
|**Management**|||
|Insurance|586|593|
|Telephone|245|35|
|Advertising|5,279|-|
|Computer costs|3,180|2,446|
|Training|507|409|
|Consultancy|1,266|2,500|
||11,063|5,983|
|**Finance**|||
|Bank charges|-|82|
This page does not form part of the statutory financial statements
Page 12
## **Lung Productions CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2024**
|||Period|
|---|---|---|
|||1/6/22|
||Year Ended|to|
||31/3/24|31/3/23|
||£|£|
|**Finance**|||
|**Other**|||
|Sundries|855|74|
|**Governance costs**|||
|Accountancy and legal fees|4,858|1,537|
|Total resources expended|287,556|74,750|
|**Net income**|61,850|76,600|
This page does not form part of the statutory financial statements
Page 13