Charity no. 1206672
## **MAYK Theatre Report and Unaudited Financial Statements**
**31 March 2025**
## **MAYK Theatre**
## **Reference and administrative details**
|**For theyear ended 31 March 2025**|**For theyear ended 31 March 2025**||
|---|---|---|
|**Charity number**|1206672||
|**Registered office and**|St. Annes House||
|**operational address**|St. Annes Road||
||St. Annes Park||
||Bristol||
||BS4 4AB||
|**Trustees**|The trustees who served during the year and up to the date of this report||
||were as follows:||
||Matthew Austin||
||Harshadha Balasubramanian||
||Jonathan Dovey|(resigned 20 March 2025)|
||Becki Haines||
||David Hall||
||Dr Myles Linton||
||Katherine Yedigaroff||
|**Bankers**|The Co-operative Bank||
||PO Box 101||
||1 Balloon Street||
||Manchester||
||M60 4EP||
|**Independent examiners**|Godfrey Wilson Limited||
||Chartered accountants and statutory auditors||
||5th Floor Mariner House||
||62 Prince Street||
||Bristol||
||BS1 4QD||
1
## **MAYK Theatre**
## **Report of the trustees**
## **For the year ended 31 March 2025**
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).
## **Structure, governance and management**
MAYK Theatre is a Charitable Incorporated Organisation with a governing constitution.
New trustees are recruited through a combination of direct invitation and open call. Open calls are shared publicly via our website, newsletter, and social media channels to encourage a broad and inclusive range of applicants. Prospective trustees are asked to submit a CV and a covering letter outlining their interest and relevant experience. All applicants are invited to meet with members of the existing board and senior leadership team prior to any appointment. New trustees are formally appointed by resolution of the board, in accordance with our governing document.
## **Objectives and activities**
To promote, maintain, improve and advance appreciation and understanding of the arts, particularly, but not limited to, theatre, performance, dance, visual arts, digital media and music.
To fulfil our charitable objectives, we curate, produce and present contemporary arts projects that engage diverse audiences and artists across Bristol, the UK, and internationally. Our work spans theatre, performance, dance, visual arts, digital media and music, with a focus on innovative and experimental practice. We deliver public events, artist development programmes, residencies, and workshops, often in partnership with other cultural and community organisations. Through this work, we aim to deepen public engagement with the arts, support artists to make ambitious work, and contribute to a vibrant, inclusive cultural ecology.
## Public Benefit
The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit in carrying out their duties and in planning the charity’s activities.
The charity delivers public benefit by creating opportunities for people to experience and participate in high-quality, thought-provoking arts experiences, regardless of their background or prior engagement with the arts. We present performances and events that are often free or offered on a Pay What You Can basis, removing financial and social barriers to attendance. We also support artists to develop new work, often in dialogue with local communities, and provide accessible routes for emerging practitioners to enter and sustain careers in the arts. Our work aims to foster understanding, imagination and connection through cultural activity that is inclusive, relevant, and rooted in public life.
## Activities
Over the past year, MAYK has delivered a rich programme of activity aligned with its mission to deepen public engagement with the arts and support the development of innovative artistic practice.
2
## **MAYK Theatre**
## **Report of the trustees**
## **For the year ended 31 March 2025**
**Mayfest 2024** brought 15 performances and events to venues and public spaces across Bristol over ten days. The programme featured a dynamic mix of local, national and international artists, encompassing theatre, installation, live performance and dance. All events operated on a Pay What You Can basis, ensuring accessibility, and the festival welcomed an audience of over 5,000 people. Free events included Broad Meadow, an outdoor installation and gathering space in the city centre. The festival also offered opportunities for emerging creatives through a young curators' programme at Bristol Old Vic Studio. We collaborated with partners including Bristol Old Vic, Trinity, and The Mount Without to bring the programme to life. Artists presented included: Dan Daw, Tania El-Khoury, BERLIN, Patrick Blenkarn and Milton Lim, Tim Crouch, Bertrand Lesca and Nasi Voutsas and Kaleider.
“ _Thank you for this beautiful experience. So precious, so inspiring. I will remember for the rest of my life_ ” Audience member, Mayfest 2024.
We continued to develop **Confluence** , our public realm residency programme exploring the changing centre of Bristol, commissioned by Ginkgo Projects. The year included the presentation of an interactive photographic exhibition by Esther May Campbell and Kitchen Table Photo Club at St Anne’s House, as well as the commissioning and development of new projects that will unfold in the coming year.
Our long-form artist residency strand, **I Like It. What Is It?** , supported artists Malaika Kegode and Haninda Durita, Malik Nashad-Sharpe, Kit Hall, and Luca Rutherford to explore new creative directions. Each artist was offered time, space and resources to develop early-stage ideas without the pressure of public presentation, nurturing bold experimentation and process-led practice.
“ _The support I have received from MAYK has been transformative. Kate, Matthew and the team have given me the space, attention, encouragement and time to really sit in my own artistry, to trust it and to challenge myself within. My confidence has really grown in the best kind of way, a quiet embedded and here to stay kind of way. I feel simultaneously grounded and uncertain (as in full of exciting unknowns) and it's really a beautiful context to be making from and growing within_ ” Luca Rutherford, Residency Artist.
As part of our commitment to supporting independent artists, we continued to produce and codevelop work by Bristol-based artists including Jo Bannon, Verity Standen and Raquel Meseguer Zafe. Highlights included the premiere of _Sleight of Hand_ by Jo Bannon at Mayfest 2024, followed by a tour to Theaterformen in Germany; the research and development of Verity Standen’s new piece _And Then_ ; and the creation of a radio play version of _A Crash Course in Cloudspotting_ by Raquel Meseguer Zafe.
“ _AMAZING. Lovely experience listening to the detailed assistance for my visually impaired daughter_ ” On Sleight of Hand by Jo Bannon.
We also delivered **The Well** , a series of community workshops for over-65s at St Anne’s House, exploring local history through creative activity and storytelling, and fostering intergenerational connection as part of the development of a future co-created live performance work in St Anne’s.
3
## **MAYK Theatre**
## **Report of the trustees**
## **For the year ended 31 March 2025**
Our **international activity** continued to grow, including the presentation of Sleight of Hand in Germany, and the delivery of Tales of Two Cities, a collaboration with Cork Midsummer Festival and The Everyman Cork supporting artistic exchange between emerging artists in Bristol and Cork. We also undertook research trips to China and Canada to build international relationships and knowledge, and provided ongoing mentorship to Canadian artist Davey Calderon as part of Theatre Replacement’s Accelerator programme.
## **Achievements and performance**
Over the past year, MAYK has continued to deliver a bold, artist-led programme of contemporary performance that brings audiences and artists together in unexpected and meaningful ways. Through festivals, residencies, new commissions, and international partnerships, the charity has supported the development of new work and created opportunities for people from all walks of life to engage with ambitious, high-quality artistic experiences.
In 2024, we reached over 5,000 people through live performances and public programmes, with 100% of our festival events offered on a Pay What You Can basis. This commitment to financial accessibility removed barriers for audiences and ensured that cost was never a reason not to attend. Our work spanned traditional theatre spaces, repurposed venues, outdoor public realm, and community settings – broadening the definition of where and how culture can happen.
Our artist support programmes provided space, time and care for independent artists to explore ideas at their earliest stages of development. Through long-form residencies like _I Like It. What Is It?_ , public realm commissions such as _Confluence_ , and bespoke producing support for Bristol-based artists, we helped artists make work that is deeply rooted in their values and lived experience. These projects often engaged communities as co-creators or witnesses, ensuring that the work remained porous, relevant, and relational.
Beyond individual projects, the wider benefit of MAYK’s work lies in the civic, imaginative, and social infrastructure it helps build. We model new ways of working that prioritise trust, care, and experimentation. We offer pathways for emerging talent, create international connections that raise the profile of Bristol artists, and provide space for creative exchange across difference. At a time of immense pressure on the cultural sector, our work continues to champion the importance of joy, risk, and collective experience — helping to sustain a vibrant and equitable cultural ecology.
## **Financial review**
At the end of the reporting period, MAYK is forecasting an overall deficit, with no free reserves carried forward.
Mayfest 2024, whilst being creatively very successful, placed significant financial strain on the organisation, and this combined with an exceptionally fundraising landscape for small arts organisations nationally, combined with a reduced level of core funding, contributed to an extremely challenging year for MAYK.
The charity has a Reserves Policy in place, which sets out the aim to hold a minimum of three months' core operational costs as unrestricted reserves to provide financial stability and support future planning. At present, the charity does not meet this target. Trustees continue to monitor the situation closely and are taking active steps to rebuild reserves over the medium term.
4
## **MAYK Theatre**
## **Report of the trustees**
## **For the year ended 31 March 2025**
The trustees recognise the importance of acting swiftly to stabilise the organisation’s financial position. A financial resilience plan and a revised fundraising strategy have been developed and approved by the board. These are already being implemented, with early signs of progress including some secured project funding for the year ahead and significant organisational changes – including a leadership transition – to reduce overheads and support a more sustainable operating model. MAYK also launched a public fundraising campaign in Autumn 2024 which generated almost £13k of donations, and the trustees and executive continue to explore other new avenues for fundraising.
The charity has a fundraising working group and a finance subcommittee, reflecting the importance of income generation in securing the charity’s future.
No funds or subsidiaries were materially in deficit at year-end. The trustees remain confident that with continued board oversight and delivery of the resilience plan, MAYK will be able to navigate this difficult period and continue to deliver significant public benefit.
## **Statement of responsibilities of the trustees**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- ▪ state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
5
## **MAYK Theatre**
## **Report of the trustees**
## **For the year ended 31 March 2025**
Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
## **Independent examiners**
Godfrey Wilson Limited were appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 15 August 2025 and signed on their behalf by
## Matthew Austin
Matthew Austin - Trustee
6
## **Independent examiner's report**
## **To the trustees of**
## **MAYK Theatre**
I report to the trustees on my examination of the accounts of MAYK Theatre (the CIO) for the year ended 31 March 2025, which are set out on pages 8 to 24.
## **Responsibilities and basis of report**
As the charity trustees of the CIO 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 CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement - matter of concern identified**
Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- (1) accounting records were not kept in respect of the CIO 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.
My examination identified a material uncertainty in relation to the charity's ability to continue as a going concern. At 31 March 2025, the charity had unrestricted net assets of £572. This figure is contingent on the Theatre Tax Relief claim which has been accrued but not yet received, as set out in note 1(p). Whilst this presents a material uncertainty in relation to the charity's ability to continue as a going concern, for the reasons set out in accounting policy 1(b), the trustees consider it appropriate to adopt the going concern basis for the preparation of these accounts.
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.
## William Guy Blake
Date: 19 August 2025 **William Guy Blake ACA Member of the ICAEW** For and on behalf of: **Godfrey Wilson Limited** Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
7
## **MAYK Theatre**
## **Statement of financial activities**
## **For the year ended 31 March 2025**
|Restricted Unrestricted
Note
£
£
**Income from:**
Donations and legacies
3
-
17,783
Charitable activities
4
96,158
394,436
Other trading activities
5
-
7,270
**Total income**
96,158
419,489
**Expenditure on:**
Raising funds
-
6,715
Charitable activities
159,059
415,716
**Total expenditure**
6
159,059
422,431
7
(62,901)
(2,942)
**Reconciliation of funds:**
Total funds brought forward
105,442
3,514
**Total funds carried forward**
42,541
572
**Net (expenditure) / income and**
**net movement in funds**|**2025**
**Total**
**£**
**17,783**
**490,594**
**7,270**
**515,647**
**6,715**
**574,775**
**581,490**
**(65,843)**
**108,956**
**43,113**|Restated
2024
Total
£
3,101
375,721
5,605|
|---|---|---|
|||384,427|
|||16,665
304,176|
|||320,841|
|||63,586
45,370|
|||108,956|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.
Prior period comparatives have been reclassified to reflect the requirements of the Charities SORP (FRS 102) as set out in note 17 to the accounts.
8
## **MAYK Theatre**
## **Balance sheet**
## **As at 31 March 2025**
|Note
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
12
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after 1 year**
13
**Net assets**
14
**Funds**
15
Restricted funds
Unrestricted funds
General funds
**Total charity funds**|**£**
**92,877**
**26,984**
**119,861**
**61,977**|**2025**
**£**
**229**
**57,884**
**58,113**
**(15,000)**
**43,113**
**42,541**
**572**
**43,113**|Restated
2024
£
780|
|---|---|---|---|
||||63,858
59,230|
||||123,088
14,912|
||||108,176|
||||108,956
-|
||||108,956|
||||105,442
3,514|
||||108,956|
Approved by the trustees on 15 August 2025 and signed on their behalf by
## Matthew Austin
Matthew Austin - Trustee
9
## **MAYK Theatre**
## **Statement of cash flows**
## **For the year ended 31 March 2025**
|**Cash used in operating activities:**
Net movement in funds
Adjustments for:
Depreciation charges
(Increase) / decrease in debtors
Increase / (decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Cash provided by financing activities:**
Receipt of loan finance
**Net cash provided by financing activities:**
**(Decrease) / increase in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
**Analysis of changes in net debt**
**Brought**
**forward**
**£**
Cash
59,230
Loans falling due after one year
-
**Net debt**
59,230|**2025**
**£**
**(65,843)**
**551**
**(29,019)**
**47,065**
**(47,246)**
**15,000**
**15,000**
**(32,246)**
**59,230**
**26,984**
**Cash**
**flows**
**£**
(32,246)
(15,000)
(47,246)|2024
£
63,586
905
21,537
(32,307)|
|---|---|---|
|||53,721|
|||-|
|||-|
|||53,721
5,509|
|||59,230|
|||**Carried**
**forward**
**£**
**26,984**
**(15,000)**|
|||**11,984**|
10
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
**1. Accounting policies**
- **a) General information and basis of preparation**
MAYK Theatre is a charitable incorporated organisation registered in England and Wales. The registered office address is St. Annes House, St. Annes Road, St. Annes Park, Bristol, BS4 4AB.
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
MAYK Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
- **b) Going concern basis of accounting**
The accounts have been prepared on the assumption that the charity is able to continue as a going concern. At 31 March 2025, the charity had unrestricted net current assets of £343. The trustees have considered the impact of an extremely challenging environment for small charities on the CIO’s current and future financial position. The charity has sufficient confirmed future funding, including a multi-year agreement with Arts Council England, for the next financial year to be able to continue operating. Over the past 12 months, the organisation has also reduced the staff team by three roles, and have made the decision to pause delivery of Mayfest (a major biennial festival of performance that places considerable risk on the organisation) alongside scaling back in other areas. The trustees therefore consider that the charity is a going concern for a period of at least 12 months from the date on which these financial statements are approved.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
## **d) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
## **e) Funds accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
11
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **1. Accounting policies (continued)**
## **f) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **g) Allocation of support and governance costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities.
## **h) Tangible fixed assets**
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
|Fixtures and fittings|4 years|
|---|---|
|Computer equipment|4 years|
## **i) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **j) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **k) Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **l) Concessionary loans**
The charity has received concessionary loans made exclusively to further its charitable aims. Concessionary loans are recognised when the commitment is entered into and the relevant loan documentation has been completed. The loans are initially recognised and measured at the amount received, with the carrying amount adjusted in subsequent years to reflect repayments.
## **m) Financial instruments**
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
12
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **1. Accounting policies (continued)**
## **n) Pension costs**
The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.
## **o) Foreign currency transactions**
Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.
## **p) Accounting estimates and key judgements**
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are as follows:
## **Theatre Tax Relief**
The charity has estimated the credit receivable under Theatre Tax Relief based on its eligible production expenditure incurred during the period. This amount is £77,743 and is included within income from charitable activities and other debtors at the year end. As this amount is subject to review and approval by HMRC, actual results may differ.
13
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
**2. Prior period comparatives: statement of financial activities**
|**Income from:**
Donations and legacies
Charitable activities
Other trading activities
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**3.**
**Income from donations and legacies**
Donations
**Net income / (expenditure) and net**
**movement in funds**|Restricted
£
£
-
3,101
141,584
234,137
-
5,605
141,584
242,843
-
16,665
75,732
228,444
75,732
245,109
65,852
(2,266)
**2025**
**Total**
**£**
**17,783**
Unrestricted|Restated
2024
Total
£
3,101
375,721
5,605|
|---|---|---|
|||384,427|
|||16,665
304,176|
|||320,841|
|||63,586|
|||2024
Total
£
3,101|
All income from donations and legacies in the current and prior period was unrestricted.
14
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **4. Income from charitable activities**
|Grants
Producing and performance fees
Ticket income
Other charitable income
Theatre tax relief
**Total income from charitable activities**
**Prior period comparative:**
Grants
Producing and performance fees
Ticket income
Other charitable income
Theatre tax relief
**Total income from charitable activities**
**5.**
**Income from other trading activities**
Rent and space hire|Restricted
£
£
71,311
112,882
24,247
156,995
-
26,485
600
16,726
-
81,348
**96,158**
**394,436**
Restricted
£
£
111,347
104,256
30,237
98,857
-
5,586
-
7,500
-
17,938
141,584
234,137
**2025**
**Total**
**£**
**7,270**
Unrestricted
Unrestricted|**2025**
**Total**
**£**
**184,193**
**181,242**
**26,485**
**17,326**
**81,348**|
|---|---|---|
|||**490,594**|
|||2024
Total
£
215,603
129,094
5,586
7,500
17,938|
|||375,721|
|||2024
Total
£
5,605|
All income from other trading activities in the current and prior period was unrestricted.
15
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **6. Total expenditure**
|**Total expenditure**||||
|---|---|---|---|
|Staff costs (note 8)
Direct costs
Subcontractor costs
Staff training and welfare
Depreciation
Entertainment
Rent and service charges
Bank charges
Computer and IT
Promotional expenses
Accountancy
Insurance
Subscriptions
Travel
Other office costs
Printing, postage and stationary
Advertising and PR
Legal and professional fees
Foreign exchange losses
Interest
**Sub-total**
Allocation of support and governance costs
**Total expenditure**|Raising
funds
£
6,715
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,715
-
**6,715**|Charitable
activities
£
£
136,461
25,827
123,804
-
234,874
-
-
42
-
551
-
865
-
24,908
-
480
-
2,674
-
370
-
9,445
-
1,592
-
85
-
4,630
-
4,119
-
1,584
-
253
-
450
-
1,558
-
203
495,139
79,636
79,636
(79,636)
**574,775**
**-**
Support and
governance
costs|**2025 Total**
**£**
**169,003**
**123,804**
**234,874**
**42**
**551**
**865**
**24,908**
**480**
**2,674**
**370**
**9,445**
**1,592**
**85**
**4,630**
**4,119**
**1,584**
**253**
**450**
**1,558**
**203**|
||||**581,490**
-|
||||**581,490**|
Total governance costs were £3,300 (2024: £1,900)
16
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
|**6.**
**Total expenditure (continued)**
**Prior period comparative**
Staff costs (note 8)
Direct costs
Subcontractor costs
Staff training and welfare
Depreciation
Entertainment
Rent and service charges
Bank charges
Computer and IT
Promotional expenses
Accountancy
Insurance
Subscriptions
Travel
Other office costs
Printing, postage and stationary
Advertising and PR
Legal and professional fees
Foreign exchange losses
Interest
**Sub-total**
Allocation of support and governance costs
**Total expenditure**|Raising
funds
£
16,665
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16,665
-
16,665|Charitable
activities
£
£
108,054
29,094
42,624
-
75,590
-
-
441
-
905
-
1,115
-
19,380
-
222
-
3,563
-
1,427
-
7,156
-
1,608
-
1,169
-
2,695
-
3,002
-
1,290
-
259
-
3,538
-
665
-
379
226,268
77,908
77,908
(77,908)
304,176
-
Support and
governance
costs|2024 Total
£
153,813
42,624
75,590
441
905
1,115
19,380
222
3,563
1,427
7,156
1,608
1,169
2,695
3,002
1,290
259
3,538
665
379|
|---|---|---|---|
||||320,841
-|
||||320,841|
17
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
**7. Net movement in funds**
This is stated after charging:
||**2025**|2024|
|---|---|---|
||**£**|£|
|Depreciation|**551**|905|
|Trustees' remuneration (note 16)|**83,674**|92,423|
|Trustees' reimbursed expenses|**4,322**|1,861|
|Independent examiner's remuneration (excluding VAT):|||
|Independent examination|**3,300**|-|
|Other services|**-**|1,900|
Two trustees, as detailed in note 15 to the accounts, received renumeration for their employment by the charity as co-directors. They were not paid in relation to their roles as trustees.
Trustees' reimbursed expenses in the current and prior period relate to expense claims for one trustee.
In common with other charities of our size and nature we use our independent examiners to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.
## **8. Staff costs and numbers**
Staff costs were as follows:
|**Staff costs and numbers**
Staff costs were as follows:|||
|---|---|---|
|Salaries and wages
Social security costs
Pension costs|**2025**
**£**
**155,985**
**9,419**
**3,599**
**169,003**|2024
£
141,940
8,519
3,354|
|||153,813|
No employee earned more than £60,000 during the year.
The key management personnel of the charity comprise the Trustees and Co-Directors. The total employee benefits of the key management personnel (including employer's national insurance) were £92,423 (2024: £92,423).
|Average head count|**2025**
**No.**
**6**|2024
No.
5|
|---|---|---|
## **9. Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity makes a claim for Theatre Tax Relief based on its eligible production expenditure incurred during the period.
18
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **10. Tangible fixed assets**
|**£**
**Cost**
At 1 April 2024 and at 31 March 2025
800
**Depreciation**
At 1 April 2024
501
Charge for the year
200
At 31 March 2025
701
**Net book value**
**At 31 March 2025**
**99**
At 31 March 2024
299
**11. Debtors**
Trade debtors
Accrued income
Other debtors
**Fixtures and**
**fittings**|**Computer**
**equipment**
**£**
4,460
3,979
351
4,330
**130**
481
**2025**
**£**
**3,674**
**11,460**
**77,743**
**92,877**|**Total**
**£**
**5,260**|
|---|---|---|
|||**4,480**
**551**|
|||**5,031**|
|||**229**|
|||780|
|||Restated
2024
£
4,000
37,473
22,385|
|||63,858|
## **12. Creditors: amounts falling due within 1 year**
|Trade creditors
Other taxation and social security
VAT
Other creditors
Accruals|**2025**
**£**
**31,090**
**15,521**
**11,936**
**130**
**3,300**
**61,977**|Restated
2024
£
8,800
3,086
447
679
1,900|
|---|---|---|
|||14,912|
19
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **13. Creditors: amounts falling due within 1 year**
|Loan (note 16)
**14. Analysis of net assets between funds**
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
**Net assets at 31 March 2025**
**Prior period comparative (restated)**
Tangible fixed assets
Current assets
Current liabilities
**Net assets at 31 March 2024**|£
-
42,541
-
-
**42,541**
£
-
105,442
-
105,442
Restricted
funds
Restricted
funds|**2025**
**£**
**15,000**
£
229
77,320
(61,977)
(15,000)
**572**
£
780
17,646
(14,912)
3,514
General
funds
General
funds|2024
£
-|
|---|---|---|---|
||||**Total**
**funds**
**£**
**229**
**119,861**
**(61,977)**
**(15,000)**|
||||**43,113**|
||||Total
funds
£
780
123,088
(14,912)|
||||108,956|
20
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **15. Movements in funds**
|**Restricted funds**
Blind Magic
Blind Magic - Passing
British Council China Research
Cloudspotting
DIY Network
I Like It. What Is It?
Nisbet
Proper Time
Quartet
Zvizdal
**Total restricted funds**
General funds
**Total funds**
**Unrestricted funds**|At 1 April
2024
£
28,633
-
-
5,232
2,182
56,115
9,000
-
4,280
-
105,442
3,514
108,956|Income
£
37,445
5,600
2,908
17,580
-
-
-
25,218
-
7,407
96,158
419,489
515,647|£
(52,038)
(5,600)
(2,908)
(20,972)
(1,682)
(45,411)
(9,000)
(9,761)
(4,280)
(7,407)
(159,059)
(422,431)
(581,490)
Expenditure|**£**
**14,040**
**-**
**-**
**1,840**
**500**
**10,704**
**-**
**15,457**
**-**
**-**
**At 31 March**
**2025**|
|---|---|---|---|---|
|||||**42,541**|
|||||**572**|
|||||**43,113**|
## **Purposes of restricted funds**
Blind Magic
This funding is restricted to the creation and development of The Dirty Work, a new show by Jo Bannon. The fund is for making and initial presentation and came via the artist, who was funded by Arts Council England.
Blind Magic - Passing
This funding is restricted to the creation and distribution of a short film, _Passing_ , created as part of Jo Bannon’s _Blind Magic_ triptych. The funding was given via The Space as a commission to MAYK.
British Council China Research
This funding was to support a research trip for Matthew Austin to attend Shanghai International Theatre Festival and to connect with industry professionals from East Asia and beyond.
Cloudspotting
This funding is restricted to create the German version of A Crash Course in Cloudspotting for radio. Commissioned and presented by WDR and supported by Mousonturm.
DIY Network
This is money from Bristol City Council to support the management of a network of cultural organisations across the city.
21
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
**15. Movements in funds (continued) Purposes of restricted funds (continued)**
- I Like It. What Is It?
This funding is to support four artists over two years to create new work and is coming to an end in September 2025.
Nisbet
This funding contributed to MAYK’s support of two emerging curators/producers to stage events as part of Mayfest 2024, alongside other professional development activity.
Proper Time These restricted funds from Arts Council England, supports the research and development period of Proper Time, a cocreated project exploring experiences of time from chronically ill perspectives. Quartet This funding is to support the development of The Well, including a series of workshops with over 65's from St Anne’s exploring local history. Zvizdal This funding was given via the Flemish government to support the presentation of the Belgian theatre company BERLIN’s piece Zvizdal at Mayfest 2024.
## **Prior period comparative (restated)**
|**Restricted funds**
Blind Magic
Blind Magic - Passing
Cloudspotting
C'mon In The Water's Lovely
DIY Network
I Like It. What Is It?
Nisbet
Quartet
Unlimited Residency
**Total restricted funds**
**Unrestricted funds**
General funds
**Total funds**|At 1 April
2023
£
5,102
-
3,988
-
-
26,500
-
-
4,000
39,590
5,780
45,370|Income
£
49,845
7,500
12,877
9,860
2,702
43,800
10,000
5,000
-
141,584
242,843
384,427|£
(26,314)
(7,500)
(11,633)
(9,860)
(520)
(14,185)
(1,000)
(720)
(4,000)
(75,732)
(245,109)
(320,841)
Expenditure|£
28,633
-
5,232
-
2,182
56,115
9,000
4,280
-
At 31 March
2024|
|---|---|---|---|---|
|||||105,442|
|||||3,514|
|||||108,956|
22
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
**15. Movements in funds (continued) Purposes of prior year funds**
C’mon In The Water’s Lovely
This was a commission to support the creation of a new show by Dan Bye and Aidan Moesby and supported the first stages of rehearsal and production.
Unlimited Residency
This funding was to support a disabled artist to spend time working in our MAYKING Space on new performance work, and was awarded to artist Jamie Hale.
## **16. Related party transactions**
Two trustees were employed as co-directors of the charity during the year. Their remuneration for their roles as co-directors is shown below. These payments were made with written consent from the Charity Commission.
|the Charity Commission.||||
|---|---|---|---|
|Matthew Austin
Kate Yedigaroff|Salary
£
40,800
40,800
81,600|Pension
costs
£
1,037
1,037
2,074|2025
Total
£
41,837
41,837|
||||83,674|
During the year, David Hall, a trustee, made an interest-free loan of £15,000 to the charity, which is included in full within creditors at the year end. The loan is repayable from April 2026.
During the year ended 31 March 2025, donations totalling £5,390 (2024: £430) were made by 2 trustees to the charity.
23
## **MAYK Theatre**
## **Notes to the financial statements**
## **For the year ended 31 March 2025**
## **17. Transition to the Charities SORP (FRS102)**
On the transition to the Charities SORP (FRS102), the opening funds have been restated to remove the deferral of restricted grant income, and to gross out managed funds previously held on the balance sheet as the charity's restricted income and expenditure. The effect of the restatements on the opening balance sheet are set out below:
|**_Funds_**
Total funds at 31 March 2024 as previously stated
Restated total funds at 31 March 2024
Total funds at 1 April 2023 as previously stated
Restated total funds at 1 April 2023
**_Debtors_**
Adjustment to managed funds (other debtors)
Restated debtors at 31 March 2024
**_Creditors_**
Adjustment to managed funds
Adjustment to deferred income
Restated creditors at 31 March 2024
Creditors at 31 March 2024 as previously stated
Adjustment to reflect opening restricted funds as at
1 April 2023
Adjustment to reflect unspent restricted funds as at
31 March 2024
Debtors at 31 March 2024 as previously stated|Restricted
£
-
105,442
105,442
Restricted
£
-
39,590
39,590|£
3,514
-
3,514
£
5,780
-
5,780
Unrestricted
Unrestricted|2024
Total
£
3,514
105,442|
|---|---|---|---|
||||108,956|
||||2023
Total
£
5,780
39,590|
||||45,370|
||||2024
Total
£
59,411
4,447|
||||63,858|
||||2024
Total
£
115,907
(29,418)
(71,577)|
||||14,912|
24