**REGISTERED CHARITY NUMBER: 1187346**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025**
**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 2025**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 to 14|
|**Detailed Statement of Financial Activities**|15 to 16|
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2025**
The trustees 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).
## **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 charity's aims and objectives and supporting the charity to grow during the third 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 and to their expanding team of incredible and dedicated people, who show incredible care, detail and high quality across all aspects of their work.
Page 1
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **OBJECTIVES AND ACTIVITIES Objectives and aims and future plans**
The objects of the CIO are to advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama.
The main activities and achievements in relation to that purpose for the public benefit during the year ended 31 March 2025, were:
1) We premiered our new production The Children's Inquiry, a Verbatim musical about the children's social care system in the UK. This ran at Southwark Playhouse, receiving critical acclaim (5 stars in The Stage & What's On Stage).
2) Alongside The Children's Inquiry production we engaged with over 2,500 school children in London and Greater Manchester, running assemblies and workshops around the themes of the show. We worked collaboratively with social workers and changemakers to design training and videos which will be created next financial year and we employed 2 alumni of our care experienced group the 'True Stars' as LUNG Creative Associates on a project making a new card game for families of all shapes and sizes.
3) We launched our Calling Barnsley project which saw us work with Barnsley Council and Barnsley College students to create an interactive phonebox, hosting Verbatim monologues sharing stories about Barnsley. We created 30 powerful monologues, employed a freelance Engagement Officer who ran 20 storytelling workshops and 3 community residencies. 1,273 audience members engaged with our interactive exhibition at the Barnsley Civic
4) We continued to run our Woodhill Families Group, a space for 5 families who have been bereaved by prison suicide;
5) We continued our work as Creative Associates at the National Theatre in their Learning department on the project Speak Up. This was the third and final year of the scheme, 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.
6) 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, Huddersfield and Calderdale, running free, creative workshops for young carers during the school holidays.
7) The LUNG team continued to undergo CPD training, enhance systems of working and build infrastructure as a company across all strands of work including Business Planning and Fundraising.
## **Future Plans**
The main activities and achievements planned for the next financial year are;
- To continue working with our Creative Associates on the Children's Inquiry legacy, including the design and delivery of a new family card game
- 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 as well as the National Theatre Symposium
- 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
Page 2
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2025**
- To begin our partnership with The National Theatre as an inaugural Resident Company, from September 2025.
- To begin a period of r&d with the RSC on a commission for a new show Factory. This will be developed throughout 2025/2026, and then performed in Stratford Upon Avon in September 2026.
- To tour our Calling Barnsley phonebox around Barnsley Town, write new monologues for the project and have them published by Faber and Faber
- To produce and perform our production The 56 as part of Bradford City of Culture.
## **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.
## **FINANCIAL REVIEW**
## **Financial position**
During the year ended 31 March 2025 income resources was £370,650 (2024: £349,406) and expenditure was £444,181 (2024: £287,556). An in year deficit of £73,531 was reported for the year ended 31 March 2024 (2024: surplus of £61,850). A deficit was recorded in the year ending 31 March 2025 financial statements as funds that were earned in previous years were spent during the year ended 31 March 2025 due to the timing of the project delivery.
At the end of the financial period (31 March 2025) the CIO held £75,195 in closing reserves, with £70,169 allocated as unrestricted funds and £5,026 as restricted funds.
The board of trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately three months of unrestricted charitable expenditure (£48,756). The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and ensure core staff and overhead costs are covered. Although the reserves at 31 March 2025 are in excess of this target, reserves do include funds already designated.
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 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.
Page 3
## **Lung Productions CIO**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **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 R McKay-Smith Ms G E Roche MA Trustee Ms D B Rees Trustee
## **Executives/Key Management**
Helen Monks Matt Woodhead
## **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 9 January 2026 and signed on its behalf by:
................................................................. Ms Z Rasheed - Trustee
Page 4
## **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 Trust) for the year ended 31 March 2025.
## **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 Trust'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 FCA
Harris & Co Limited Chartered Accountants Marland House 13 Huddersfield Road Barnsley South Yorkshire S70 2LW
Date: 9 January 2026
Page 5
## **Lung Productions CIO**
## **Statement of Financial Activities**
## **for the Year Ended 31 March 2025**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
3,128
**Charitable activities**
3
Charitable Activities
292,295
**Total**
295,423
**EXPENDITURE ON**
**Charitable activities**
4
Charitable Activities
350,320
**NET INCOME/(EXPENDITURE)**
(54,897)
**RECONCILIATION OF FUNDS**
Total funds brought forward
125,066
**TOTAL FUNDS CARRIED FORWARD**
70,169|Restricted
fund
£
-
75,227
75,227
93,861
(18,634)
23,660
5,026|2025
Total
funds
£
3,128
367,522
370,650
444,181
(73,531)
148,726
75,195|2024
Total
funds
£
46
349,360
349,406
287,556
61,850
86,876
148,726|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **Lung Productions CIO**
## **Balance Sheet 31 March 2025**
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
11
7,485
Cash at bank
70,320
77,805
**CREDITORS**
Amounts falling due within one year
12
(7,636)
**NET CURRENT ASSETS**
70,169
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
70,169
**NET ASSETS**
70,169
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
5,026
5,026
-
5,026
5,026
5,026|2025
Total
funds
£
7,485
75,346
82,831
(7,636)
75,195
75,195
75,195
70,169
5,026
75,195|2024
Total
funds
£
1,470
150,710
152,180
(3,454)
148,726
148,726
148,726
125,066
23,660
148,726|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 9 January 2026 and were signed on its behalf by:
............................................. Ms Z Rasheed - Trustee
The notes form part of these financial statements
Page 7
## **Lung Productions CIO**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **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) effective from 2019 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) effective from 2019 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 8
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **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. DONATIONS AND LEGACIES**
|Gifts
Donations
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Other Income
Charitable Activities
Grants
Charitable Activities
**4.**
**CHARITABLE ACTIVITIES COSTS**
Charitable Activities
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Creative fees
Producers fees
Engagement fees
Venue and equipment hire
Travel and accommodation
Workshop fees
Actor fees
Fundraiser fees|Direct
Costs (see
note 5)
£
397,537|2025
£
1
3,127
3,128
2025
£
52,546
314,976
367,522
Support
costs (see
note 6)
£
46,644
2025
£
149,655
57,169
36,881
2,400
15,249
20,709
40,782
69,292
5,400
397,537|2024
£
(2)
48
46
2024
£
66,142
283,218
349,360
Totals
£
444,181
2024
£
101,293
50,062
14,749
3,800
13,191
31,283
15,955
35,347
5,100
270,780|
|---|---|---|---|
Page 9
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **6. SUPPORT COSTS**
|**SUPPORT COSTS**||||||
|---|---|---|---|---|---|
|||||Governance||
||Management|Finance|Other|costs|Totals|
||£|£|£|£|£|
|Charitable Activities|29,398|19|3,839|13,388|46,644|
Support costs, included in the above, are as follows:
## **Management**
|2025
Charitable
Activities
£
Insurance
834
Telephone
460
Advertising
12,963
Computer costs
6,707
Training
566
Consultancy
200
Subscriptions
2,790
Printing, postage & stationery
918
Storage costs
3,960
29,398
**Finance**
2025
Charitable
Activities
£
Bank charges
19
**Other**
2025
Charitable
Activities
£
Sundries and general resources
3,839
**Governance costs**
2025
Charitable
Activities
£
Accountancy and legal fees
13,388|2024
Total
activities
£
586
245
5,279
3,180
507
1,266
-
-
-
11,063
2024
Total
activities
£
-
2024
Total
activities
£
855
2024
Total
activities
£
4,858|
|---|---|
Page 10
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **7. 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.
## **8. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs|2025
£
139,407
7,334
2,914
149,655|2024
£
95,308
4,282
1,703|
|---|---|---|
|||101,293|
The average monthly number of employees during the year was as follows:
|Executive Team
Producer
Development Manager
General Manager|2025
2
2
1
1
6|2024
2
1
-
-|
|---|---|---|
|||3|
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 £77,187 (2024: £72,677).
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**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|Restricted
fund
£
-
29,460
29,460
5,800
23,660
-|Total
funds
£
46
349,360
349,406
287,556
61,850
86,876|
|---|---|---|
Page 12
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|Unrestricted
fund
£
**TOTAL FUNDS CARRIED FORWARD**
125,066|Restricted
fund
£
23,660|Total
funds
£|
|---|---|---|
|||148,726|
## **10. 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 £1,512 (2024: £1,440). Other services totalling £6,816 were charged by the independent examiners during the period (2024: £3,058)
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors|2025
£
7,485
-
7,485
2025
£
600
3,080
3,956
7,636|2024
£
353
1,117
1,470
2024
£
-
2,254
1,200
3,454|
|---|---|---|
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
There is no deferred income at the year end.
## **13. MOVEMENT IN FUNDS**
|**Restricted funds**
Restricted grants
**Total restricted funds**
**Unrestricted funds**
Arts Council England -
NPO
General
**Total Unrestricted**
**funds**
**Total funds**|**1st April**
**2024 B/F**
**Income**
**Expenditure**
**Transfers**
**in/out**
**Gains/**
**(Losses)**
**31st March**
**2025 C/F**
23,660
75,227
(93,861)
-
5,026|
|---|---|
||23,660
75,227
(93,861)
-
-
5,026|
||**23,660**
**75,227**
**(93,861)**
**-**
**-**
**5,026**
-
206,699 (206,699)
-
-
-
125,066
88,724 (143,621)
70,169|
||**125,066 295,423 (350,320)**
**-**
**-**
**70,169**|
|||
||**148,726 370,650 (444,181)**
**-**
**-**
**75,195**|
Page 12
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **13. MOVEMENT IN FUNDS - continued**
Restricted income in the year ended 31 March 2025 has come from a number of grant providers with the largest ones during the year being £15,000 from Garfield Weston and £10,000 from the Rayne Foundation. The Garfield Weston and The Rayne Foundation restricted income were both to be used for our Children's Inquiry project, which saw us work with care experienced young people across the country in workshops, assemblies creating a verbatim musical and an interactive card game.
## **Comparative for movement in funds**
|**Restricted funds**
Restricted grants
**Total restricted funds**
**Unrestricted funds**
Arts Council England - NPO
General
**Total Unrestricted funds**
**Total funds**|**1st April 2023**
**B/F**
**Income**
**Expenditure**
**Transfers**
**in/out**
**Gains/**
**(Losses)**
**31st March**
**2024 C/F**
-
29,460
(5,800)
-
23,660
-
29,460
(5,800)
-
-
23,660
**-**
**29,460**
**(5,800)**
**-**
**-**
**23,660**
-
206,699
(206,699)
-
-
-
86,876
113,247
(75,057)
125,066
**86,876**
**319,946**
**(281,756)**
**-**
**-**
**125,066**
**86,876**
**349,406**
**(287,556)**
**-**
**-**
**148,726**|
|---|---|
Page 13
continued...
## **Lung Productions CIO**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
Page 14
## **Lung Productions CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
Donations
**Charitable activities**
Other Income
Grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Creative fees
Producers fees
Engagement fees
Venue and equipment hire
Travel and accommodation
Workshop fees
Actor fees
Fundraiser fees
**Support costs**
**Management**
Insurance
Telephone
Advertising
Computer costs
Training
Consultancy
Subscriptions
Printing, postage & stationery
Storage costs
**Finance**
Bank charges
**Other**
Sundries and general resources|2025
£
1
3,127
3,128
52,546
314,976
367,522
370,650
139,407
7,334
2,914
57,169
36,881
2,400
15,249
20,709
40,782
69,292
5,400
397,537
834
460
12,963
6,707
566
200
2,790
918
3,960
29,398
19
3,839|2024
£
(2)
48
46
66,142
283,218
349,360
349,406
95,308
4,282
1,703
50,062
14,749
3,800
13,191
31,283
15,955
35,347
5,100
270,780
586
245
5,279
3,180
507
1,266
-
-
-
11,063
-
855|
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
## **Lung Productions CIO**
## **Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2025**|||
|---|---|---|
|**Other**
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|2025
£
13,388
444,181
(73,531)|2024
£
4,858|
|||287,556|
|||61,850|
This page does not form part of the statutory financial statements
Page 16