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2024-03-31-accounts

Babbling Vagabonds Limited Report and financial statements For year end 31st March 2024

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Contents

Contents 3
Reference & Administrative Details 4
Trustees annual report 5
Objectives & Activities 5
Achievements & Performance 6
Structure, governance and management 10
Financial Review 12
Future Plans 13
Independent Examiner's Report 16
Statement of Financial Activities 17
Balance Sheet 18
Notes to the financial statements 19

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Reference & Administrative Details

Charity Number: 1200574
Company Number: 04116275
Registered Office: Unit 6, Heritage Business Centre
Derby Road
Belper
Derbyshire
DE56 1SW
Trustees: Richard Coggins Chairperson
Mark Hornsey Treasurer (resigned Jan 2024)
Tara Hornsey-Saunders Secretary
Phil Coggins (resigned Jan 2024)
Liz McGregor
Susan Stones
Matt Vale
Independent Examiner: Robert Cooper,
WIllis Cooper Accountants
Unit 6, Heritage Business Centre
Derby Road
Belper
Derbyshire
DE56 1SW
Bankers: Natwest - National Westminster Bank plc
Alfreton Branch
1 Chesterfield Road
Alfreton
DE55 7ZR
Website: www.babblingvagabonds.co.uk
Social accounts: Facebook - Babbling Vagabonds Storytelling Theatre
Twitter - @BabVagabonds
Instagram - babblingvagabonds

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Trustees annual report

The Trustees (who are also directors of Babbling Vagabonds Limited for the purposes of company law) are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

Objectives & Activities

The objects for which the Company is established are for the public benefit to advance education in the dramatic and visual arts, in particular (but not exclusively), Drama, Mime, Dance and similar Choreographic Arts, Singing and Music by the production, promotion, performance and training.

Babbling Vagabonds is a storytelling theatre company based in Buxton, Derbyshire. We make theatrical experiences and deliver workshops for all the family. Our work is underpinned by the belief that live theatre and high quality participatory events have the

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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power to create memorable, life-changing moments for everyone, regardless of age or experience. Central to our mission as a charity is to ‘reconnect art with its social function and promote art as a tool for changing the world.’

Achievements & Performance

We have been creating high quality family theatre experiences and community celebration events across Derbyshire since we were founded in 2000. Originally constituted as a not-for-profit limited company, we have recently made the transition to full charitable status, and are delighted to be presenting our first annual report at the beginning of this new chapter in our organisation’s life.

This report covers the activities of the charity for the first 18 months from our registration with the Charity Commission for England and Wales in October 2022, up to our financial year end on 31st March 2024. NB : The financial figures presented, however, are just for the period 1st April 2023 - 31st March 2024.

During the 18 months since our charitable registration there has been a huge amount of development activity as well as artistic output. Our first 6 months (October to year-end 2023) were about the following work:

During the 2023-24 financial year we have implemented a new way of planning our strategic vision and programme of work, with an integrated financial model to support its delivery. We have also brought in a grant application pipeline, and we have been developing our impact measurement process and evaluation.

Who our work helps and how: Babbling Vagabonds tell life affirming stories for all the family. We do this in imaginative ways using our skills as theatre makers. We collaborate with performers, artists, musicians, makers, technicians, smarty pants and clever clogs from all walks of life, to create the very best work we can.

Our figures for the past 18 months demonstrate the breadth of impact our work has had:

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Our work is underpinned by the belief that live theatre and high quality participatory events have the power to create memorable, life-changing moments for everyone, regardless of age or experience. The work we create celebrates, educates, engages, enthrals, excites, informs and helps to make sense of ourselves, others and the world we find ourselves in. Central to our mission as a charity is to ‘reconnect art with its social function and promote art as a tool for changing the world.’

Our artistic programme: over the past 18 months we have continued to produce interactive family theatre shows. Performance and story are at the very heart of everything we do, mixed in with mischief, fun and wonder. We still love the impact we have on all the family from little children who are experiencing their first live theatre event to grandparents who look on fondly both at their family and the magic of the show unfolding before them.

‘You have given my daughter the gift of enjoying theatre’ Audience member

During the 18 month period, our productions have included:

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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‘Justwatchedthis anditwas absolutely brilliant!My cheeks are aching now from laughing so much.’ Audience member

‘Fabulous show today. We lovedit. Thankyou.’Audience member

In addition, to the theatre productions, we have delivered a full programme of workshops and community participation. Making space and time to discover new ways in which we can tell stories that matter. We specialise in creating work with primary aged children and their families. But this is not exclusive. For example, the ‘ Meet and Make ’ programme has been created in response to our community requests in three specific age groups:

Specific projects have included:

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Planning & development: This period has also seen strong development of the activities that we are planning. We have a new partner for our Christmas Theatre offer - The Brewhouse Arts Centre in Burton-On-Trent, and have built stronger relationships with Buxton Civic Association and Buxton Crescent Heritage Trust.

Since August, we have been working closely with a local nonprofit consultancy to develop our strategic plan and fundraising approach. Luke Wilkinson from For Goodness Sake Consulting has helped us adapt our existing models of community engagement to suit our new status as a charity, and to find and apply for suitable funders whom we previously were not eligible for. We have also continued to work with Theatre Producer Darren Walter who has supported our theatre touring work for nearly two and a half years.

Staff training: we take very seriously the new demands that the governance of a charity places on us, and over the past 18 months, Trustees and Artistic Directors have undertaken a wide range of training in various areas to support our organisational development:

Strategy and governance

Evaluation

Marketing

Fundraising

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Inclusion

In summary: Our work continues to capture the imagination of family audiences around Derbyshire. Drawing on our extensive experience, we are thrilled by the opportunities that our new charitable status brings. This transition will allow us to expand the reach and impact of our work throughout the county. Working with various local partners, we will continue to co-create work that nurtures social cohesion, lifelong learning, and well-being, enriching family and community life.

Structure, governance and management

Babbling Vagabonds was established as a company limited by guarantee (04116275) in November 2000, and registered as a charity (1200574) in England & Wales on 5th October 2022.

The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the Company being wound up directors are required to contribute an amount not exceeding £1.

The directors of the company are also charity Trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

All members of the Management Committee give their time voluntarily and receive no benefits from the charity.

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Day-to-day management of Babbling Vagabonds is delegated by the Trustees to a Senior Management_Team:

Mark Hornsey Co-Artistic Director with responsibility for Company Management, Finance and Governance Tara Hornsey-Saunders Co-Artistic Director with responsibility for Marketing, Community Engagement and Volunteering

Phil Coggins Co-Artistic Director with responsibility for Artistic Projects, Theatre Production and Training

This team reports to the Board of Trustees at quarterly meetings. At other times during the year, the company employs project based staff, including actors, workshop leaders and associate artists.

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Financial Review

Now that Babbling Vagabonds has become a Charity we are open to more funding avenues. We have spent time and resources raising our profile and gathering data on the funding opportunities that are before us. We are committed to keeping our work accessible to all who need it and have been working creatively to structure the finances of our activities accordingly. Charitable status affords us the opportunity to offer reduced and free activities.

We have spent time restructuring and planning how we move forward, this has included developing a fundraising pipeline - a project management system to help manage all aspects of identifying and applying for funding and grants.

Our theatre productions continue to offer additional financial support to the Company but the current economic climate is such that it is more challenging than ever to generate significant finance through this alone.

We have good financial management in place, and have been moving to a new system of reporting to align our activities with the charities SORP (the Charities- Statement of Recommended Practice).

Babbling Vagabond's income for the financial year 2023-24 was £115,000. This reflects an 185% increase from the previous year.

As at 31st March 2024, Babbling Vagabonds has written off a historical debt of £13,021 from Babbling Productions Limited (now ceased trading). This is in agreement that all the ownership of work, artistic rights for productions, props and scripts created by Babbling Productions is handed over to Babbling Vagabonds in its entirety.

Reserves policy: Babbling Vagabonds aims to build up reserves to cover at least 3 months’ operating costs in the event of a drop in income. As at 31st March 2024, our unrestricted reserves were £37,017 which represents 4-5 months’ spending against our 2024-25 budget.

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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The Trustees consider that this is appropriate given the large expansion we have undertaken recently, and gives us the financial resilience to grow sustainably in the long-term. This policy is reviewed annually.

Funding sources: Aside from income generated through ticket sales (theatre activities) and direct sales (workshops and commissions), a significant funding source has been by way of grants from trusts and foundations.

We have had some level of support in the past from Arts Council England and other public funders, but as a new charity we now have access to a whole range of new funding bodies we were previously ineligible for. We are very grateful to those trusts and foundations who have shown faith in our work by supporting us for the first time this year, including The Bingham Trust, Derbyshire Foundation, The National Lottery Community Fund (Awards for All England) and Magic Little Grants.

We have the unique benefit, as a theatre company, of being able to generate a substantial amount of earned income through ticket sales and workshop bookings. Our aim is that this continues to represent a large portion of our income. Income from grants supplements this, and allows us to continue to expand our community offer on an accessible and affordable basis.

We continue to develop a sustainable financial model: in the coming year we will begin exploring other possible avenues of charitable funding, including individual giving (and the associated benefit of Gift Aid registration) through an ‘angel’ or ‘friends’ scheme, as well as exploring potential corporate partnerships.

Future Plans

Going forward, the Trustees’ intention is to continue running the Charity as it has begun. The Artistic Directors continue to clarify the future activity and have shared a document called the ‘North Star Plan’.

The North Star Plan supports our vision in delivering grass roots cultural activities. Using the power of theatre, and engaging creative participation opportunities we aim to nurture social cohesion, lifelong learning and well-being, enriching lives across the county.

All activities will revolve around a central story, with Babbling Vagabonds drawing themes and inspiration from it to develop a program of work. This year's focus will be on the Russian folktale "The Soldier Who Tricked Death."

Babbling Vagabonds community and education projects are aimed at engaging all ages and backgrounds through participatory arts. This year will see the development and continuing delivery of Rural Rhythms (with Taddington and Biggin), Meet and Make (Buxton

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Community) and Bright Futures (Newtown and Thornsett Primary Schools). These projects aim to ignite creativity, challenge isolation and make connections within a community.

Babbling Vagabonds will nurture the next generation of theatre makers as we work towards becoming the artistic drivers within REC Youth Theatre. This is a space where like minded individuals can come together and grow in confidence in a supportive environment. This young people's company will have the opportunity to broaden their theatrical knowledge by becoming involved in Babbling Vagabonds' future productions.

A dynamic marketing plan will strengthen connections with audiences, participants, and supporters. This will attract vital funding and partnerships to propel our artistic vision forward.

Future plans include a welcoming physical space for the Company. A venue for the community, hosting workshops, storytelling sessions, and serving as a home for the Youth Theatre. This hub will be a catalyst for artistic exploration and connection.

The North Star Plan guides Babbling Vagabonds Charity towards a future filled with artistic exploration, growth and a deep connection with the Derbyshire community. With this detailed roadmap, we are excited about the transformative journey ahead.

Approved by order of the board, and signed on its behalf by:

Richard Coggins Chair

Date 24/05/2024

Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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Babbling Vagabonds Company number : 04116275 Charity number : 1200574

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I report to the charity trustees on my examination of the accounts of Babbling Vagabonds Limited for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity’s trustees (and also its directors for the purposes of company law), you are responsible for preparing the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charities accounts as carried out under section 145 of the Charities Act 2011 Act (‘the 2011 Act’). In carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me to believe that in any material respect:

  1. the accounting records were not kept in accordance with section 386 of the 2006 Act, or

  2. the accounts do not accord with those records, or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of the independent examination; or

  4. the accounts have not been prepared in accordance with the methods or principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (frs102)).

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.

…............................................

Robert Cooper Willis Cooper Limited Unit 6, Heritage Business Centre Derby Road Belper Derbyshire DE56 1SW

Date - 24/05/2024

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Report and financial statements for the Year Ended 31 Mar 2024

Babbling Vagabonds Limited

Statement of Financial Activities

Unrestricted
notes
funds
INCOME
Income and endowments from:
Donations and grants
2, 3
182
Charitable activities
4
71,361
Other
5
-
Total
71,543
EXPENDITURE
Expenditure on:
Raising funds
6
10,485
Charitable activities
7
40,839
Other
9
13,021
Total
64,344
Net income before tax for the
reporting period
7,199
Tax payable
-
Net income after tax for the
reporting period
7,199
Transfers between funds
-
Net movement in funds
7,199
RECONCILIATION OF FUNDS
Total funds brought forward
29,818
Total funds carried forward
37,017		 Restricted
funds
43,869
-
-
43,869
-
18,830
-
18,830
25,039
-
25,039
-
25,039
-
25,039		 Total
funds
44,051
71,361
-
115,412
10,485
59,669
13,021
83,174
32,238
-
32,238
-
32,238
29,818
62,056		 Prior year
funds
70
31,237
16,972
48,279
10,522
50,975
-
61,497
(13,218)
-
(13,218)
-
(13,218)
43,036
29,818

1 7

Balance Sheet

Unrestricted
FIXED ASSETS
notes
funds
Tangible assets
11
2,717
Total fixed assets
2,717
CURRENT ASSETS
Debtors
12
337
Cash at bank and in hand
36,661
Total current assets
36,998
CREDITORS
Amounts falling due within
one year
13
2,698
NET CURRENT ASSETS
34,300
TOTAL ASSETS LESS
CURRENT LIABILITIES
37,017
NET ASSETS
37,017
FUNDS OF THE CHARITY
Restricted funds
-
Unrestricted funds
37,017
TOTAL FUNDS
37,017		 Restricted
funds
-
-
-
25,039
25,039
-
25,039
25,039
25,039
25,039
-
25,039		 Total this
year
2,717
2,717
337
61,700
62,037
2,698
59,339
62,056
62,056
25,039
37,017
62,056		 Total last
year
1,155
1,155
20,864
10,497
31,361
2,698
28,664
29,818
29,818
-
29,818
29,818

The charitable company is entitled to exemption from audit under Section 477(2) of the

Companies Act 2006 relating to small companies, and the trustees also confirm that the members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2024 and were signed on its behalf by:

…............................................

Richard Coggins

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

Notes to the Financial Statements

1 Accounting Policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention with items recognised at cost of transaction value unless otherwise state in the relevant note(s) to these accounts. 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, the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS102), And with the Charities Act 2011.

Public Benefit

The charity constitutes a public benefit as defined by FRS102.

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.

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 s exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which have been raised by the charity for particular purposes. The costs of raising and administrating the funds are charged against the specific fund. The aim and use of restricted funds is set out in the notes to the financial statements.

Tangible Fixed Assets

Depreciation is provided at the following annual rates in order to write off each asset over its useful life.

Computer equipment : 25% on reducing balance Plant and machinery : 25% on reducing balance

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

2
Donations and Grants
Donations
Restricted grants
Unrestricted grants		 2024
182
43,869
-
44,051		 2023
70
-
-
70

3 Analysis of Grants

We have been successful in raising funds from the following grant schemes:

Arts Council England
Awards for All
High Peak Borough Council
Derbyshire Foundation
Bingham Trust
Local Giving - Magic Little Grant
4
Income from Charitable Activities
Performances
Workshops and Educational Outreach		 2024
27,000
9,925
4,194
1,250
1,000
500
43,869
2024
59,065
12,297
71,361		 2023
-
-
-
-
-
-
-
2023
23,797
7,440
31,237

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

5
Other income
HMRC Theatre Tax Credits
6
Raising funds
2024
Direct
costs
Cost of generating donations and
grants
7,100
7,100
7
Expenditure on Charitable Activities
2024
Direct
costs
Programme costs
52,899
52,899
8
Support Costs
Subcontract
Travel
Premises
Insurance
Office costs
Marketing
Accountancy
Bank charges
Depreciation		 2024
-
-
2024
Support
costs
3,385
3,385
2024
Support
costs
6,769
6,769
2024
5,000
339
600
710
1,161
250
1,189
-
906
10,154		 2024
Total
10,485
10,485
2024
Total
59,669
59,669		 2023
16,972
16,972
2023
10,522
10,522
2023
50,975
50,975
2023
7,966
-
600
712
265
-
1,111
4
385
11,043

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Plant and machinery, etc.
COST
At 01 Apr 2023 25,795
Additions 2,468
At 31 Mar 2024 28,263
DEPRECIATION
At 01 Apr 2023 24,641
Additions 906
At 31 Mar 2024 25,546
NET BOOK VALUE
At 31 Mar 2024 2,717
At 31 Mar 2023 1,155
11 Debtors: Amounts falling due within one year
2024 2023
Trade debtors 337 -
Other debtors - 20,864
337 20,864
12 Creditors: Amounts falling due within one year
2024 2023
Other creditors 1,678 1,678
Accruals 1,020 1,020
2,698 2,698

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

13 Analysis of Net Assets between Funds

2024
Unrestricted
funds
Current assets and Fixed assets
39,715
Current liabilities
2,698
37,017		 2024
Restricted
funds
25,039
-
25,039		 2024
2023
Total
Total
funds
funds
64,754
32,516
2,698
2,698
62,056
29,818

14 Movements in Funds

Unrestricted funds
Restricted funds		 Net
At
movement
1-Apr-23
funds
29,818
7,199
-
25,039
29,818
43,869		 Transfers
between
At
funds
31-Mar-24
-
37,017
-
25,039
18,830
25,039

15 Movements in Restricted Funds

Arts council England
Awards for all
High Peak Borough Council
Derbyshire Foundation
Bingham Trust
Local Giving - Magic Litlle Grants		 At
1-Apr-23
-
-
-
-
-
-
-		 Income
Outgoings
27,000
9,050
9,925
4,936
4,194
4,194
1,250
300
1,000
250
500
100
43,869
18,830		 At
31-Mar-24
17,950
4,989
-
950
750
400
25,039

16 Related party transactions

A related production company, Babbling Productions Limited, invoiced the charity £45,000 for Artistic work and delivery. An intercompany debt of £13,021 between the charity and Babbling Productions was written off upon the commencement of charitable status.

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

INCOME AND ENDOWMENTS
Donations and grants
Donations
Grants
Charitable Activities
Performances
Workshops and Educational Outreach
Other income
HMRC R&D Tax Credits
Total incoming resources		 2024
182
43,869
44,051
59,065
12,297
71,361
-
-
115,412		 2023
70
-
70
23,797
7,440
31,237
16,972
16,972
48,279

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Babbling Vagabonds Limited Report and financial statements for the Year Ended 31 Mar 2024

EXPENDITURE
Raising funds
Subcontract
Charitable activities
Materials
Subcontract
Travel
Premises
Marketing
Support costs
Subcontract
Travel
Premises
Insurance
Office costs
Marketing
Accountancy
Bank charges
Depreciation
Other costs
Loan waiver
Total resources expended
NET INCOME		 7,100
7,100
2,045
47,352
1,975
1,060
468
52,899
5,000
339
600
710
1,161
250
1,189
-
906
10,154
13,021
13,021
83,174
32,238		 5,000
5,000
1,123
42,400
99
970
863
45,454
7,966
-
600
712
265
-
1,111
4
385
11,043
-
-
61,497
(13,218)

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vagaDonds babbling

Family theatre Outdoor adventure theatre Community arts Work in schoo