Ch#rlty Ya91stratlorb number 1196603 (England and Wa￿￿) Cmi￿nY rggF8tration numb•r 06858142 ADVERSE CAMBER PRODUCTIONS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 *AEHJKIIYQ' 1&112r2tr25 ¢oMPANIES tr￿lsE *191 ADVERSE CAMBER PRODUCTIONS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Nicholas Cults Carol Tayl Erica Hesketh Yeahyea Khan Anthony Jones Steph￿Ie Harn Naomi Ihllds Chaity numb•r (England and Wal•s) 1196603 Company numb¢1 06858142 R¢gist•r¢d offi¢• Ausbn House 43 Poole Road Boumemouth England BH4 9DN Independent examlner Streets Ru•Aands V4Èbsl Austsn HOL 43 Poole Road rh)rset Er¥Jland BH4 9DN ADVERSE CAMBER PRODUCTIONS CONTENTS Page Tru$lees' rei Independent examinefs report Statement of finarrial actiwlies Balance sheet Notes to the fmancial stalemerts 10-15 ADVERSE CAMBER PRODUCTIONS TRUSTEES. REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Thg Iwstges present their annua report arKI financra state￿￿nts lor the year ende(131 Mwch 2025. The financial staternents have been prnpared in acwdan¢e wilh the accountry pglicies set out in note 1 to the financial statements and compty wrth Ihe chamls governing dooJment. thè Compan*s Act 2006, FRS 102 "The Financial Reporting Standard ap￿iCat￿e in UK arKI Republ￿ of Ireland" the Charrhès SORP 'Attounth"ng and Reporting by charit￿.. Staternent of Recommended Pra¢ts"ce ar¥)￿Gab￿ to charrties prepanng their 3ccourrts in awdance ￿￿th the Financia ReF¥Nb'ng Standard aFWicat4e in the UK wd RepublK of IrelaThJ (FRS 1021" Obj¢¢tiVgs and a¢tivit*s Advers• Camberfs charitable obJ"ect. as set out in its gOVe￿￿￿j docJJment. is Yor the public benefit. to promote the arts. in part￿lar not exc￿$1¥¢1Y tre afls of df*na, Iheatre. music. literature and storytelling." C)Jr VIS￿ is that we believe that other worlds are possit)le. c￿1 mission is to listen to sloryteljers and communrties. Togelher, ￿ discover the stories that need lo be told, shay'n9 and sharing these in theatres, neighbwrhood5 and publK spaces across the UK and the wortd. We nurture the power of people's imag1r￿tionS to open horEcm. Public benefi1 In shaping Atfverse Camber's obj'eciives for the year WKI in planniry a(*ivthes. the TnJstees hwe referred to the Charity Commission's guidance on pU￿1C ￿r￿fit. The main public beneffts 0fAd¥e￿e Camter's Wofk are.. . To enrich and deepen aud¢nces' U￿r$tanding. enpyiytht and appreciation of stories aThl music from a ronge of ¢ullural tradib"on$ . To participants from atmss aLW cOmmun￿￿s, parh"cukrty whose stories are kss often h8ard, to share stories wrth a wider se¢lion of Ihe wtli¢ To improve peoKle's F*50n* wial v*ll beirvJ thrtyffjh i¥kirY4 part in sttyelling actiwlies To work towards beirffJ an equitable soryety. by becom¥¥J a morE empathetic society. with a greater understandirrfJ of the worfd live in, aThl IKM to affect P05rtr4e %)cial change through telling and sharing ol stories. music and the related arts . To enhance storytellers. artistic waclice and skilL8 . To add￿$ obstades to pr(¥Jression. ensLWry a fi￿re the￿e r•rb3e of $loryiellw¥ can make SUstsinaWe ￿reeTs. prwidir¥J wder to rn0￿ peo ADVERSE CAMBER PRODUCTIONS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Main Ac1•vil A(fverse Camber's prc4Jramrne lake5 F4ace across th￿ slrwkts: . Socially eryaged practice, with a pwtuilar fcrf)Js M y¢wng pecole. ensuring partiupar)ts' ¥oi¢es arKI interests shaFe and infomi the stories being ereated and heard Strategic and sector support propcts, sup￿>rtIrWj storytel￿r skill$ deveEopmènl. and increasing underslat)ding of storytelliThJ's role and potentral to support individual, sorial and ￿anetary well-￿Ing Commissionirtg. tounro and faon9 ever￿. which aim to re￿ the w*Jest and most dNerse rarvJe ol public aud4en¢e$ qualrty arts"sts¢ Wofk The tmpact of this work is evaluated usirbj theory of ¢harwe and logic mth*ls. to ensure Ihe organisab.on ¢ontinually improves its pra¢tice and delivery. Achievements and Perfomiance Review of 2024-2025 Adverse Camber continued to eV0￿e ils ixMine5s model and •tsb¢ yo91￿me wth swtficant prog￿$9 in driving forward its mission and goals while responding lo wKler ¢haNJes in and arts provison and community need. across Ihe MidlaThJs region and nationally. Across the year our work engaged wilh 2604 in person aUd￿nCeS at prciect sharirrfjs arKI wbli¢ events. a 38% increase on the prevK)us year IQ02 digital audiences at online ￿ents. sharlngs aryl Fodcasts. a 44% increase on the previous year . 1029 ￿a￿ve wttupanls. in ￿￿kShopS and engageTh*nl acbvibe5. an 84% increase on the Previous year SUPF*Xted 632 paid days for *lisls. wcxILK￿8. ¢xew, fac4litat(¥5 aThJ team memters. a 9% decrease on the previ(HJs year. A central thread of this year's aciivty has teen a stronger emphasis on a national sector support role, achieved through a new project Slorylejling Pathways. funded byArts Council England. the Foyk Foundation aTrl the Garrick Tru51. Th¢ goals of Ihis proJ¢d ar¢ to ir￿rease th¢ dNewW ￿$111enCe of the storytelJ&r sector in Englar¢d and to strengthen practrtwws éaming Potential. an essentsal Comp¢¥￿nI in a wmler diversity of pracirticners being able to sttp into and stay within cultural and ueative sedors. Storytèlling Pathways offits"a15y laur￿ Hl June 2024 at the F￿erat￿ for EuroFean Storytelltng IFEST) 8nrwl conlerence in Glasgow. a gathering whth Adverse Camber ¢￿hoSted with wr Four Nation5 Strategic partner5 Village Stories ISco#andl. the Arm51rorwJ Stotyelling Trust {Northem Irela[￿ and storytel￿TS acr055 Wales. Through these projects, and by offerirg call 0￿$ for new OFP)rtunths assooated wrth 'Palhways'. we conne￿ett with many Pract$t￿)nerS who We￿ new to our netwo￿ and ￿ nth0￿ed individijals wilh or9anisations and Pfaclilioners who were to them. le•*TrJ into our pxlot ffwloriwy Fwme. strenglhened our partnerships and reach across tkrby5hi￿ aThJ the Mkllwds region in this finarrial year through preparations for tkntyshir8 Makes, an inntivative three year programme of curtural events across the county, and also part￿IpatIon in Collaborate and Innovate. a p'or*ering initkative supporting Virtual $ch¢)ols and 28 sèlected arts and ¢Lrllural organisations from across Ihe Vkst and East m￿larth to makg actrvities altrathe afid accessible for carwpenenced young pe¢Jple. A key hyhlight of our growiThJ socially ￿ed strand of was Lincoln5Iure Folktdes, part of a wider AHRC funded projecl exploring the rich cultural heritage of Lincc4nshire's folkiales. Irs each project, brOL￿ht ensembles of storytellers and MuS￿anS together to c￿create work Tpnth young peopk. exploring Iheir cOn￿ms, dreams. hopes ar)d stofies. underptnned by research and evaluab.on which are eviA¥iNJ Ouf own processes and pr8¢tice as an organi$ats"on. ADVERSE CAMBER PRODUCTIONS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 We partnered several times Ihioughout the year Midtands based arb.st Pyn Stockman and her musiaan collaborator Ann Jones, plus wsual artistffilmmaker Khadijah Cathry aka Generous Waste and audio producerlsound artist Marc Re Two of It￿se projects were in response to commissions from regional oryanisations, Ihe first from the Natr"Mal Forest as part of t￿1r Caroline Scothem Award. and the second building on our previous C￿labOr￿.0n5 Wrth estat4ished. longstanding community arts organisabon Jundioft Arts in North East Derbyshire. TFEse projects W0￿ed acr055 artfom, tAending traditional and new approaches. rnlegrab'ng environmental trEmes, empowenng young FEQF4e's voKes aThJ buildin9 confidence. TouTr diredy produced by Adverse Camber were less Iryroun￿ this yèar. knugh perfwmances ol The Gods A￿ All He￿ by Phil OkM4edy contirvjed wrthoui subg"dy. nGludmy sold out ￿rtOrnan¢e in the Richard Burton theatre at Royal IA*Esh Cdlege of Music aThJ Drama Cardrff. We prwded m¢ntoring antj production support, wothing in partnership Michael Haryey's rew company Bandg. wthose new cross-artform performance Ltyn y Fan Fach reached Just under 1.000 peO￿e in arts centres, village ha115 arKI sthools across Wales with our support. In addition. Adverse Camberytsjuced events took F4ace in s(*ods. (Krtdoorn and online. using a cornb'nation of forniats. induding audio podcasts ueated WTth and by ywng pe* Schoo￿-baSed or outdoor FerfomiancEs hosted at I￿e public events. We also continued tmorktng to develop and raise the financAal resources to produce tour woduclions in the ftbture. supwiiThJ artists projects arKI OUT cy•m initialsves. Funders Thanks We were pleased to be commis&oned to deli¥er by the Nat￿n￿ Forest. Jlsnctic￿ Arts. Nottingham Trent University (Arts and HUMan￿e5 Research Counul Grant) and in partnership with arttsts, based on syccessful project proposabs, induding through a￿l¢ats.0ns to Arts Counol Wales. We We￿ gralefvl to receive funding from Arts Counal England, Postcode Lottery. The FOY￿ Foundath)n. The Garwick Chantable Trust. We also earned income from k)cal auth￿itIeS. independent arts centres. Iheatres and rur￿ touring organisaty"ons. Project HighlTrghts: Foeus on Sector Support Proiects Storytelling Pathway$ Ilncorporatlng cothostlng of FEST Conference) This projecl represents a sontficant St￿ng￿eni￿j of our role providing national sector role and iwworate Adverse Camber$ ¢trhosting of the FEST annual conference wilh ow Four Nations partners. held in Glasgow In June 2024. The FEST cryrferqrv sold out was alterthd by 135 delegales from across 28 couniries. Adverse Camber gave tsvo major wtsentabons, around themes of rep￿sentats.0n and dNersity In storytelling, c dewsed w¢th storyteller Peter Chand. curalorlpracth.oner Aw"sha de Larwolle. our engagement producer Aorfe O'connor and producerrtounder Naomi Wlds, an￿nd touring. ￿￿fati1rtated by Naomi Wikls vth Alys Torrance and Lucy Lill from LO1￿ Imsed Story Jam. The diversity presentation was informed by lead-vp wowk tsry"litated by our Engagemenl PnKlucer around the experience of sloryteller5 Irom Glotol Alapnty background5 wthm storylelling across the English regions. An anonymised lettef devised from ihese sessions was read to the wder European storytelling cAJmmunity as part of the presentation, followed by a provocation by leadtng storyteller and festNal programmer Peter Chand and a follow up discussion in which responses were aired and gathered. Followng this, ￿ convened thrèè go minute small group Mlin¢ di%u¥sKJn spaces fLY European wogrammers are $imib*ly motivated to tske action on this issue. The Storytelling Pathways Fwecl tseif was informed by corwltative cTrdewgned workn"n9 w0Ce￿$. induding five praditioners bn"nging lived experience from Global Majorty. femak arKI working class perspectives as 'Co-Designers' to ensure the pathways we sought to develop were t￿ng shaped by relevant lived experiènce. The c￿DeSignerS helped de￿n, put4iase and re(xuit for a ￿10t mentoring scheme. funded by grants from thè Foyle Foundation and GarFick CharitaL4E Trust. The ftrtl results ol the mentonng call out scheme ￿11 be shared in our 25-26 Trustees Reptyt. 0$ Ihe maJNty ot (kkvery fdl th"n Ihis year. ADVERSE CAMBER PRODUCTIONS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Each strand of Storylelling Pathways proieci has infom￿￿ next steps, induding t0￿c$ for ￿￿￿-MonthlY OFen online di5CU$SiOrt spacès, shanng resources and good IYact￿ 9UKlance, indudiThJ presentations by Arts Council England and na11c￿l organbsalions aclive in the krd. Key themes wrthin these conver5ètKMs Y*luded: Audience develo￿0t How to secure and grow your incune Progressing your career and repertoire Peer support and good wacb'ce FindirrfJ a communrty Exèmplary examples of a￿led and commuThty stI￿lIng How to bmach geo9raphical differences Yhe sltyellirw Iwimurrity wtyneeds this... tt is cU￿nNY realty han*¢o establish yoursellas a stowler in England 8rrdrnake a INry from rt. Thffs m8ans th* fh(xse who so￿¢6ed?re morn likely to be firjm a pn"vheg8d 1)8ckgffjund other fonns of irp¢ome arRdlhis leads to a depTrsstng lack ofdivetsity in the sédor.. (Katy Cawkwell, Exeterb8sedst¢yytelts storytelliTr3 Pathways ¢￿tinUeS irto 202&26 finanri¥l year. Project Highlighls: Fo¢u¥ on So¢iilly Eng•ged proJ•¢ts "A Story for thv Trn￿ {¢omrtMsswy*d for the c￿ne Scothem Award) was cweated by Pyn Stockman and Ann Jone5 With Year 4 ar￿ Year 5 PUkx15 from Fairmeadows FouThdalion Primary SchtrJ in Swadlincote. This si¥th- month project culminated in a performance by the 70 wtyGipants. with Pyn arKI Ann for the whole sthool, parents. friends arKI farnity and an e(Ited pgJca5t of the youry ¥ryce5 arKI song5 whith is availalje on OUT websrte. extracts offeedback incI￿le youThJ people rellethy tlw surwtse #t pro￿1 tFEy felt and how they had gr(P￿ in Confttkr￿e through the wojec "So inwredby oury0ungerge1￿ra￿I The passm. and￿lre to proted ourplanet bn'ngs Iwht and hope to us air "A huge well done to the chldren andall invo￿. l enpy8d the presentatM and story.- "Happy and amazed." "Proud ofmysemas well as others." "I would feel more confth next lime." 'Pmtsd bècause w• made the sL¥yg." JtmtllonArts.. Th• JOurnyfn￿n H•rn to Plow Junction Arts, call-oth commission. led by Pyn Stockman and Ann Jones, with ￿Su#l artisufilmmaker Kha(JiJah Cartewry. worked ¢reatsvely wrth two I￿1 s¢hfyYs (Year 1$. Year 415$) and a youth group (aged 11+) to Co-create perfo￿nan￿ shafftd as pwl of Ihe Chesterf￿d Chbldren's Festy"val in July the Tapton Lock Festival in September. "All the Ch￿dren andyoungpewe have engag8dso wfth Ihe artisfs. We commissionedAdv8rse Camberbecause we know how skHled they a￿, encouraging and bringing oul the best in everyone they "Tharjk you $0 muGh for today. Both artists. Pyn and Khadya, wEre abs(￿ulety amazmg and Ihe kids have h8d 8 fantast¢ day." SchMI tea¢herpwbcpant. ADVERSE CAMBER PRODUCTIONS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AHRC Llncolnshlre Folktales PToie¢¢.' On9in4 Legacie4 Conne¢itrons. Futures Adverse Camber was commissioned lo lead a youth engagement strand of a lJroaderAHRC funded project, led by Dr. Rory Watern)an and Research Fdlrw Dr. Anna Milon Irom the Sdjool of Arts aThJ Humanities at Nottingham Trènt Univefsity, exF4or#vJ the rich cultural herit&Je of the county's folk tale5. In Our strand. young people reimagined folktales from thwr afea. transfomiing them into posters. i1[￿trat￿)ns. creativ¢ wllltng and onlin¢ dcasts. orKJ wreab.ng Ferf¢¥mances, c￿e￿a￿"ng unique qualrt*s ol folktales wlN"ch were weviously unknown lo them. ￿lIe some youn9 peoFAe aimed lo strewn tr*if story-writing skills thiough tskn"rKJ part, they discovered hcwl mLKh they enjoyed ryeatr.ry through Improvisat￿ with mulb"F40 artfomis. "I have enioyed&tyellNJg ￿Stead ofslLyyM#ing as s(rting I h8ve neverdone orthougm ofdoing before.-CYP Partwant. Summer StThlliThJ PTWt. "When we do storytelling. you dony have lo get it every lin￿, you dont have to read off a scnpt, and perf(xyning rt is just magical...so st(¥ylelli￿. and scw ￿lI￿ng as well, has been a really bnlliant expeiience.. CYP Parti¢yant, Summer StorytslliNJ Propd. 'Gffj8t to youngwpw gmw and be part of a c￿at￿e proiectcel8brntMw theirhon County. I w8nl lo w mvths irttyudes aH and losses recogrised in the year. All irwmg anJ expendilLwe d&riv¢ from continuTrng a￿￿￿¢$. ADVERSE CAMBER PRODUCTIONS BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Fixed assets Tangible assets 436 544 Current assets Debtors Cash at b￿k and in haThJ 10 10.887 63.237 14.381 74.124 72.829 CreditoTr: amounts 13lling du• wilhifi onè year 11 12.5501 16.764) Net current 43sets 71.574 66.065 Total assets less current liabllltAe* 72.010 66.609 Dèferred income 12 143,415) {34,395} The funds of the charity Unrestricted fvrTrds 13 28,59S 32,214 28,595 32,214 The company is entiiled to the exempb'on from the aLthJit requirement ((￿"ne0 section 477 01 the Companie5Act 20C6. for the year ended 31 March 2025. The d4￿Clor$ acknovledge thèir resr•)nSt41ths for ¢0M￿y1ng with the requirerr￿ts of ihe Companies Act 2006 with rtsptct to accounting records and wepafats.on of finanual statements. The have not required the CoMp￿Y to otAain ￿ aL#*t of its finan¢i81 sts1err￿ts for tl* year in question in attordance wilh section 476. These financial statements have been tryared in xcordarKe wilh the wcwisions aWicat4e to comwies subject to Ihe small compantes regime. The financial statements apwoved by truslees on 14 October 2025 icholas Cutts Trustee c(￿panY r¢oistraliw numlJ¥r l)6858142 {£￿3nd arvj W*) ADVERSE CAMBER PRODUCTIONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ovniity poli¢i*s Charity infonnation AdveF5e Camber PrfyJuclion$ is a wvate C￿￿panY limited by guarantee incoTpor¥ied In England and Wale5. The ￿9}stered Olf￿ isAusb"n Ho￿. 43 Pocde Road, 8￿Memo￿, Dorset. BH4 9DN. Ewland. 1.1 Basis of preparation The financial statemen15 have been prepared fft accordance with the charity's goveming docLKnent, the Companies Act 2006. FRS 102 Yhe FinanckAI Repjrting Standard applicabke in the UK and Republt¢ of I￿land. and the Chanb'es SORP 'A￿￿Unts"rw3 and Rewting by Chaiities". Statement ol Recommended Practice applicable to Charit￿ preparing their a¢couftts in accordance witli th• Finanaal Reportln9 Standard applicable in the UK ￿ Republ￿ of Irdand {FRS 102)-. The charrty ts a Public eenefit Entity as thfined by FRS 102. The chafrty has l*n advantage of Ihe w0vi￿n$ in ihe SORP ¢h¥nt*s rh)t lo prepare 8 St8lffnenl of The financF•l statements We prepargd in sterfry. is the funclional currency of ihe charity. Monetary amoLmts in these financial statements ￿ rouTrJed 10 th8 nearest £. The finanaal stalements have LEen prepared un(l¢r th• histor￿1 cost convention. (M￿￿￿*d to inclLth the revaluation of frethdd Propert￿ ar¥J to indude invèsbmnt propeths ar#Y certain finafic￿l instnments at fair valuel. The pn'ncipal accovnty"r¥J w)liries adoFrted are set below. 1.2 Golng concern At the time of approving the fvwKaal slater￿nts. trustees have a reasonatrfe exF*Ctation that th• ¢harTrty has adequate re%)urce5 to Contin￿ in operational existence for the foreseeable fuiure. Thus the tr￿1•eS continue to adopt the going cOr￿ern basis of accounting in prepariThJ the finanaal statements. 1.3 Charitabl• funds Unrestricted funds are available for use at the diSryet￿ of Its Iruslees in fvrtheT•n￿ ol their tharilable objecti¥es. Restricted fvrKls we sutyect to specific ¢(￿dIE10n5 by dorw or ￿ant0ts as to Iw they may Used. Th? purposes and ￿e$ of the restricted funds are set out Mi the n¢)tès to It* financial ststen*nts. Endowment fiJrbts are 5ubJe¢t to speofic by dcmrs that th• captsl must b& maintsined by th* charity. 1.4 In¢¢me Income is recojnised when the chanty is legally enttt￿d to il after any perf0rnan￿ conthiions have been met, the amounts can te measured rdiabty. and it i% wobabte that income will be recEived. Cash donations are rec(wised an rec•ipt. Other donations are recoymsed Or￿ the charity has been notif￿6 of the donatsan. Un￿ performano condib.gns require deferral of the amount. Income tax ￿Coverable in relalJ"on lo donal￿n$ fecwved under GrtIA￿ L¥ deeds ol covenant K% re¢c4Jn*sd al Ihe b.me of Ihe donatson. Legao¢$ are re¢ognised on re¢eipt or chanty has notified of an impending d61ributK)n. the amount is arKI receipt is exF*ded. If tr* amtxml ts not kr)own, the legacy LS treated as contingent assel. 10- ADVERSE CAMBER PRODUCTIONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies lcontinu•d) 1.5 Expenditu Expenditu￿ is recogni5ed or￿* there is a *al or conslwsxive obligab.on to t¥ansfer ectsnomi¢ tenefil to a . Ihird party. rt is probable that a transfer of ecornmK beneffts wdl be in settIen￿nI. and Ihe amount of the obligab.on can be measured r￿la￿y. ExpendituTe is daSsffj￿d by adrwty. The cc6ts of each athity are m* up of the totsl of dIT￿t costs and sharetl cos13, induding supFrf( costs invofved in undertaking eath aclivity. Dire¢t ¢¢sts attributat4e to a single aclivity are allo¢*ed directly tu that adivity. Shared ctsts W1￿ch ¢ontn"bute lo MO￿ than one acb"v*ty and support costs which are not attn"lyJtalJe to a single a￿"VIty are apptirtior*d beh¥een those adivit*s on 8 basis consistent wrth Ihe use of resources. Central staff costs are alk￿1￿ on the basis of bme spenL and depreaalion charges are allocated orb Ihe rxylion of the a55el'5 Use. 1.6 Tang5ble fixed assots TangitrAe r￿ed assets are inilialty n￿￿red at cost aThJ sthjsequenty measured * cost or valuation, ￿ of deprecialion and any Impalm￿nI losses. Depreciab"on is recognised so as to write off the cost or vauation of assets less their res*Jual value5 over their useful li￿$ on the follo4¥ry bases.. Plant and equyr*nt Computers 20% on cost gairt ot loss arising on Ihe disposal of an asset i8 determined as the drffere[￿ beNveen the sale proceeds and the carrying value of the asset. and is recognised in the statement ol finanoal activrtw. 1.7 Impalfment of fixe(l a￿ts At each reporting end date, the rev*ws cawrywwj anb)￿ts of ts tangible as￿ts to dètemin• whether there is any inditation ItTrat those assets have suffered an impair¥nent loss. If any such ind£alion exists. the recoverable amixmt of the asset is estimated in orfer to delerniine the extent of the impairment loss (rfanyl. 1.8 Cash and cash eqyi¥alents Cash and cash equivalents include cash in hand, dep￿ts held at cal with banks, other short-term liquid investm•nts c¥iginal maturities of three months or less. and bank overdrafts. Bank overdiafts are shown wthin borrcmings in currerrt liabArties. 1.9 Fin*rb¢i•l instrumwts The chanty has elected to ap￿Y the wovssions of Sedion 11 '8asi¢ Finanoal Ir￿trUMents, Sedion 12 'Ot￿r Financial InstNm*nts Issuès. of FRS 102 to 41 of finanual Ir￿trUMents. Financi81 Instrumer￿ are re¢ognised in Ihe Wance sheet when the charity becomes party to the contractual provisions of the instwment. Financial assels and liabiliiies are offsrt with Ihe net ¥noLYrts ￿eSented in the fin**ial statements. when there is a legally enforceable rwht to set off the recr)Jnwd amounts ar¥J there is an intention lo seltle on a n8t basis of io realise the asset al￿ s¢tt* the Ith"￿ SiTnultaneryJsty. Bask financial assets Basic ffinancial assets, i￿vde debt0￿ cash arKI bank balances. ar• initially rneasu￿ at transaction pnce incluth.ng tran5aCtM)n costs and are sub5equenly camed at amortised etsst using the effective interest method unless the affangement constiiutes a fina￿Ing Iransa¢b"on. Wthe￿ the transaction is ffleasu￿d al the present ¥￿Ye of Ihe futurè re¢eipts di%ounted at a market rate of inlefest. Financial assets ¢lassifi8d as receNaL4e wlhin on• year are not anKxlised. 11 ADVERSE CAMBER PRODUCTIONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accovnting polkies (Continued) Ba$1¢ finan¢ialliabilili•s Basic financial liabilits"es, induthng cxefthloTr and bank loans are initkilty iecognise(l al transacb'on pri￿ unless the affangement constrtutes a financarrfj transaction. where the debt instrU￿ent ￿ measured at the present value of the luturè payments dkscounted at a martet rate of interest. Finanryal liabtlitie5 classified as paya￿? vthin one year arg not amort&sed. Debt instruments are Subseq￿ carried at am&11￿ cosL usitvJ the effective interest rate method. Trade C￿ditorS are 0￿￿at¢on$ to pay for goods ¢y services that have been acquired in the ordtnary ex)urse of operations from supplieTS. Amtyjnts paYa￿e afe classified as current liabilities rf paymÈnt 15 due within one year or less. tl not. they are presented as non-current liab"litEs. Trade ¢￿itorS are recognised initially al transaction pri￿ and subsequenuy al arnort￿ cost usiThJ ts eft¢¢*"ve interest method. Derncognltlon of finanelal Ilablllties Financial liabilities are derecognised when charty'$ C￿tractUal oblyb.orts exsyrty or #Te discharged or cancelled. 1.10 Employee benefits The cost of any unused holKlay enlIUw￿ is recowised in the Fenad in *thi¢h th* empfoyee's services a receNed. Termination benefits are recognisèd Mnmtdthly as art experw when the chanty 1$ demmStra￿Y committe