Company registratlon number.. 01058397
Charlty reglstratlon number.. 264359
The Bubble Theatre Company Limited
IA company limlted by Buaranteel
Annual Report and Financlal Statements
for the Year Ended 31 March 2024
Field Sullivan Limited
9 Hare & Blllet Road
81a¢kheath
SE3 ORB

The Bubble Theatre Company Limited
Contents
Reference and AdministTative Details
Trustees, Report
2toll
Independent Examiner's Report
12to13
Statement of f inanclal Actl¥Atle5
14to15
Balance Sheet
16to17
Note5 to the Financlal Statements
18to28

The Bubble Theatre Company Limited
Reference and Admln15trative Detalls
Chief Executive Officer
L R Bradshaw
M A L Vickers
Tvustees
A O Ap3lar3
G Arogundade
G G Bower5
T Chelrenham
E J D Holden
O P Marand05
K Ntumba
A M Shields
T Sithole
M J Webber
Secretary
V8rznd
Charlty Reglstration Number
264359
CDmpany Reglstratlon Number
01058397
The Gharlty Is Intorporated in England & Wales.
3&5 Elephant Larie
London
SE16 4JD
Registered Otlice
Independent Emaminer
9 Hare & Billet Road
Blackheath
SE3 OR8
Bankers
National Westminister Bank
London Bridge IA) Branch
PO Box 35
10 Southwark StrÈet
London
SEIS 4JD
Page I

The Bubble Theatre Company Limited
Trustees, Report
The trustees, who are directOT5 for the purpose5 of company law, present the annual report together wlth the
financial Statements and audltors. report of the charltable company lor the year ended 31 March 2024.
Chalrfs Report
Rellectlng on the past year, l am proud of London Bubble Theatre's continued resilience and unwaverlng
commitment to creating inclusive and communlty-driven theatre. The financial challenges, particularly the
ongoing cost-of-living crisis, have tested our mettle, Yet, it is precisely Sn 5u¢h times that our mlssion to bring
theatre to underserved communities and give voice to those often unheard, becomes even more critltal.
In 2023-24, we dellvered an Impressive array of participatory sessions and performances, engaglng over 7,400
attendees, S5% 01 whom came from our homE borough of Southwark. This robust local engagement
nderscores the importance of London Bubble as a safe, creative space where individuals from all backErounds
can expres5 themselves and connect with others.
This year, we also achieved a 51gnificant mSlestone with the addltSon of a Youth Engagement Officer, funded
through the Jack PetchÈy Foundation internship scheme, Addltionally, our newly formed Oldei Adults, Touring
Company su¢cesslully brought live theatre directly to community and resldentlal setting5, providing many
residents with their flrst experience tsf theatre. Their dÉbut production, Beneath the Papers, captured the very
essence ol what London Bubble stands for.. thÈatre that re50natos with and empowers communitie5.
Our cornrnitment to incluslvlty was further demonstrated through the success of our Young Theatre Makers
programme, which celebrated Its 19th cohort. It was particularly inspiring to see past graduates take on
leadership Yole5 wlthin the proEramme, such as directing their own productions and mentorlng new
participants, highlightlnE the transfortnatlve Impact of our work, This progre551on from participant to leader
reflects our unwavering commitment to fosterlng a moTe dlverse and representative arts workforce.
Flnanclalw, It has been a challenging year. The ongoing cost-of-INing crisls ha5 slgnlflcantly impacted our
operations. leadlng to increased nEed alongside a reduction in our income to £346,324. Nonetheless, we h3ve
comrnitted to recoverlng sufficient re5È1VÈS to ensure the stability of our operations. In difficult times. we
rem3in resolute in our goal to keep our programmes actt55ible and to support those who would otherw15e be
excluded from cultural experlences.
Looklng ahead, we approach the future with cautious optimism. Together wlth my fellow Trustees, our
dedlcatod te8rn, and the talented practitioners who make London Bubble what Itls, we will continue to bulld
on our achlevements. We are particularly excSted about the potentlal of diEltal platforms to expand our reach
and eng3ge new audiences. We a150 p13n to further develop our communlty outreach programmes. l am
excited to see where the next yezr wlll take us, and l am hopeful that, @ven In dlfficult tlmes, London Bubble
wlll rernain a beacon of connection and hope through the arts.
REPORT OF THE YRUSTEES
The trustees present thelr report with the financlal ststements of the charlty for the year ended 31 March
2024. The financial statements have been prepared in accordance with the accounting policie5 Set out In note
I to the account5 and comply with the charity'5 trust deed, the Charitie5 Act 2011 and Accounting 3nd
Reportlng by charitie5.' Statement ol Recommended Pra¢ticÈ appllc8ble to charltles preparfng thelr accounts in
accordantE wlth the Flnanci31 Reporting Standard for Smaller Entltles publlshed on 16.07.2014.
Page 2

The Bubble Theatre Company Limlted
Tru5tees' Report
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity Is controlled by its governing document, a deed of trust, and constltutes a Ilmlted company, limited
by guarantee, as defined by the CompanlÈs Act 2(KJ6.
Co-CEOs: Lucy Bradshaw and Marie Vickers
Bankers
Natlonal Westminster Bank London Bridge IA) Branch PO 8tkx 35 10 Southwark Street London SE16 4JD
*****
Thls report explores the charit¢s a¢hiovement5 during this perlod and the benefits of Its work for the groups of
people it sets out to support.
VISION AND MISSION
In shaplng our activities and Dbjective5 for the year the trustee5 have consldered the Charity Commission, 5
guidance on public benefit. This year we have sought to better deflne our mission and commitments as a
charity, supporting us to reassess our ongoin8 PfojÈCts to ensure they are meetlng those commltments and
assess whether potentlal future projects or commissioned work are In line with our values.
We aye ¢ommltted to:
Making theatre acce551ble to undÈrserved and low soclo-economic communlties
Advancing diverslty, InclusSon and equity
Making positive social impact
Increaslng social 8nd emotlonal wellbeing through theatre
We do thls bv:
Exploring the storles that matter to our mÈmbers and communitie5
Ernploying zrt15ts who represent the communltles we work with
Shafin8 theatre in non-theatre spaces
Supportin8 our members to See profes51onal theatre
Promoting 5elf-expre55ion and creativity
Worklng Wlth small Efoups over a perlod of tlme
Ensuring our projects are free to attend and rernovlnE Other cost associated barrlers
OBJECTIVES AND ACTIVITIES
Purposes and Actlvltles
The Company is a Reglstered Charlty and it5 principal object, as detailed in the Memorandum and Articles of
A550ciation, continues to be the advancement of the education ol the public through the promotion 3nd
support of the art of the theatre and mu51C.
We are passionate about making cultural activlty accessible and are proud to be a hlgh-qu£lSty art5
organlsation with a strong sociallustiie agenda.
Page 3

The Bubble Theatre Company Limited
Trustees, Report
Our beneficiarie5
In any given week we support people aged 6- 100, increasing their life chances at evEry Stage, Our free dram
projects provide a safe space for people experiencing disempowerment, Èxclusion and inequity. Our building Is
a place of unconditional p051tive regard for all who walk ihrough our doors, to a space many of those who
work with us call 'home'. Thi5 year our actfvities supported..
Chlldren aged 6-11, p3rticularly those with communication need5, referred by soclal 5ervlces or at risk
of serious youth vlolence
12-30-year-Dlds with multiple dlsadvantaees including mental I51-health. neurodlversity,
unemployrnent and expEriente of the care system
Older adults INing in sheltered accommodatlon or alone
Our achlevements
In 2023-24, London Bubble achieved..
7,400 engagements
elthÈr attending p3rtic¢patory arts activities or a5 audience members, a 20%
Increase on the previous year. 55% of these came frorn our home borough ol Southwark 50% were
chlldren aEed 6-12
48 performance5 01 original thÈatro
779 participatory sessions, amounting to 5,581 attendances
49% of the freelance artlsts we employed coming through Bubble's Young Theatre Makers
programme
Acro55 all our work we use theatre as a tool to support the Increased soclal and emotlonal wellbelng of our
beneficiaries.
Our attlvlty and It5 Impact
We delivered Speech Bubbles In 8 schools duilng thls ftnanclal year, cr05slng two academic year5 {AP￿l- Julv
2023 and September 2023 - March 20241. 228 children were referred to the small group, weekly drama
intervention, having been identified by their schools 3s havlng a communlcatlon need, Pre and post project
a55es5ments completed by teachers showed that-
75% of pupils involved in Speech Bubbles Improved their learning, speaklng and1Sstening skllls
77% of pupSls involved In Speech Bubbles improved their ernotlonal behaviour and conduct behaviour
Teachers identlfipd improvements back in clas5 in 92% of Speech Bubbles chlldren with commeThts
In¢ludSnE'.
-j hus impmved with hls communlcorions with stoff und peers. He 15 more wllllng to engage In ttctlvltles In
cla5S.°
-F is much more willin9 to tolk about things thot ore distressing her, and She hos bullt lots more posltlve
rglatlonships with herpeers flndulso odults around her."
Playlng Safe 15 our ploneering drarna-based clime prevention interventlon for year 6 students at risk of
involvement in serlous youth vlolence. The project use5 interattlve theatre technique5 to create opportunities
for young people to talk about threats and safety In their communltv.
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The Bubble Theatre Company Limited
Trustees, Report
163 year 6 students across 5 schools in SES and SE17 saw our origin31 Playing Sc7fe play. which was devised and
Is performed by artists who have completed Bubble Young Theatre Makers. It tells the story of 11-year-old Ali
who 15 under piessure to follow in the footsteps of his older brother by gettlng Involved wlth local 'oldeT5',
known to be involved with drug5 and violence. Uslng Forum Theatre, youne people are encouraged to explore
llctitsnal characters, the 51tuations they find thern5elve5 In and the cholce5 they make.
41 of the most at-rlsk students partlclpated In a week of targeted workshops during which they
explored the themes of the play in more detail and devised a play of their own
95% of these students said that the creative activStie5 in the prolect helped them express themselves.
74% said they felt better able to deal with difficult situations. following taking part In Playing Safe
100% of tÈachers surveyed said they would book the project agaln but that theSr school would not be
able to pay for ￿t, statln8'.
-It's u great project thGtneed5 to contlnue os young peoplefoce these challenges doily. We need more of these
In schools Ifullylundedl to support ourchildre￿.
We delivered our 19th cohort of Young Theatre Makers in early 2024. providing theatre training and
leadership opportunities for 1&25-year-olds with time during the day.
9 young adult5 Started the programme, each completing over IIY) hours ol theatre-making trainin
working collaboratively to devise a piece ol forum theatre about themes affecting young people
today.
Their OTiglnal show, Influenced, exp1or@d themes of soclal medla. trolllng, famlly responslbllltles and
expectations, bullying, friendshlp and re511ience, Across 11 performances, 280 people saw 'lnfluenced'
wSth audlence feedback including..
"The talent, energy* vlbe orthe cost ondcrew wos inspiring. Powerlul Story toldbrilliontly."
75% of beneficiaries stated that they felt more positlve about the future at the end of the project than they
had at the be8innin81 StatinE'.
"I huvefelt 50fe, supported, welcomed, enguged. reinvigorated aftdproudl"
As part of Dur ongoing commitment to supporting the developrnent of artlst5 frorn under-represented
communities. Bubble staff continue tts provide wr3p-around professional and pastoral SLtpport to young èdults
who have taken part in Young Theatre Makers, many ol whorn still turn to us for Informat1on, advice and
guldance,
This was the 10th annivers3ry year for our Older Adults, Programme.
• 112 peoplo aged 55 and older took part across 196 creative particlpatory sesslons.
Our aim to showcase and celebrate the creativity, stories and voices of older adults wès spotlighted by our
10th 3nnlvers3ry Takeover Day whÈre groups from across our programme came together to lill our bulldlng
wSth thelr creative offerings for each other and invited Bue5t5. One of our mEmbeis explalned why event5 like
this are so important..
"We doTr'tleel Invtslble when we're wlth Bubble. On the Tokeover Dtly Insteod of belng lunored, strangers cttme
up to us und congrorulated us on our work. We weren'tpilshed to the side, people sow us."
WÈ delivered The Rotherhlthe Shed in partnership with our neighbouring charity Time & Talents. It Ss the
'shÈd at the bottom of the Barden, that many pÈople in our local community dream ol having. Our workshop
space provides the space, tools and motivatlon lor older people to corne together and create, as a means of
reduclng soclal isolatlon.
Page 5

The Bubble Theatre Company Limlted
Trustees, Report
As well a5 69 Rotherhithe Shed se5SIOll5, amassing over 650 attendances throughout the year, The
Rotherhlthe Shed's work was exhibited at 5outhwark Park Gallerles, for three weeks in August, Showcasing
some of the work that members have created over the135t ten years. The exhibition 5howc3sed the vzrlety of
mediums and 5ki115 01 Shed membeTS including metalwork, paintlng. woodwork, and electronlcs wlth both
newly cre3ted and up-cycled objects. Member5 told us..
"It mode mefeel ttpprecioted, hovlng thÈ ubility to exhlblt volues of worklng ot the Rotherhlthe Shed."
56 residents of sheltered hou51ng unit5 took part in Tea Break Theatre workshop5. These weekly sessions,
takln8 place In re5Idents' communal lounges, includ2 physical wartnups, voc31 wannups, lrnprovisation
exerclses, character exerclses, writing exerclsÈs, small group and ensemble work, designed to support soclal
and emotional wellbelng. The value Dur beneficlaries place on their involvement In Tea Break Theatre Is
evident, with some having taken part 5in¢e we began the project in 2013. By meeting people where they are
and using everyday object5. 5torles and provocatlons as stimuS1 for creative ideas. thÈ project increases social
connections, physical and ment31 wellbeinE. As one of our regular members explain5'.
-Now I know people and enloy talking to them, they teach us this in Tea Break Theiltre-not to be on your own.
It's helped In every oreo of my life.
The ongoing need lor the project was shown as we piloted Tea Break Theatre In two new older adults. housing
settings.. Jack Jones House, a Southw3rk Council scheme and United Saint Saviourf5 Appleby Blue alms-house.
Both were èt the request of the houslng m3n3ger5 who sought the funding to pilot the project for their
residents.
Case Study
G has b@en a regular Tea Break Theatre rnember slnce 2016. His consistent presence at our Frlday morning
group shows that it'5 a valuable and stable fixture in hls week.
He often refers to the eroup as h15 '8ubble larnllw and we know he meets and soclallses with his fellow
members outside of London 8ubble se55ions. He 15 3 g￿at advocate for the project, bringing friends and
relatives along to try Tea Break Theatre out for themselve5. G described why coming to Bubble ss so Important
to him..
.1 love the yroup. I look JonvGrd to Itevery week. When Igo there, l Meet u lot of differentpeople with different
buckurounds thot I know I'd never have the opportunity to meet anywhere else. If I cun descrlbe the effect
Bubble has on me, I would simply describe it U5 0 mogtc t(7blet that you con toke u5 a s¢Jlution to oll the illne55es
ond weakness&s YDU may huve. Some people's per50nolities huve tiunsformed frorn very shy ond reserved to
bubbllng ond allve. Bubble doe5 all thutfvr you.-
We Introduced èn older Adults, Touring Company for people aged 55+ interested In dev151ng and tourlng a
show. Led by our Artistlc Dlrector, Marie Vicker5, they created Beneoth the Papers, a story about retlred raclng
driver Archle who has kept hlm5ell to h1msell since hls wife mysteriou51y disappeared 18 years ago.
A prirnary alm of this project was tts bring original, Ilve theatre by n(In-prolessional performers into Sheltered
Housing units, removing barriers to experiencing live performance lor Èlderly resident5. As the venue for our
Tea 8reak Theatre group5. these spaces are an important part of London Bubble'5 Identity
we feel
passionately about increasing access to the arts for thelr residents and including them Sn our communlty.
The posltive Impact of seelng a near-peer perftsrming wa5 evldent from resldents. feedback. For some, thls was
their first eXperIen￿ of Ilve theatre.
82% of residents told us thÈy would like to go to the theatre again. havlng seen Beneath the Papers.
Page 6

The Bubble Theatre Company Limited
Tru5tees' Report
Produclng Beneoth the Papers epitomisÈd what we stand for. theatre in the community, telling stories that
matter to our members and ernpowering margSnallsed groups. Since the tour in Autumn 2023, we were Invlted
to take the show to the 2024 Perform3nGe Studies Internatlonal conference.
Buildlng a more diverse and repre5entatlve worklorce for the arts sector
For the first tlme, Young Theatre Makers was led and 5UPPQrted by previou5 participants. Ten years after
taking part in the programme himself, facilitator, wrlrer and performer Russeni Fisher led the programme and
directed the final show. Fellow Young Theatre Makers graduate, Abena ObÈng, was employed as project
assistant.
This 15 Qne example of the positive legacy of Young Theatre Makers whlch contlnues to be evldent In our
freelance workforce.
49% of the freelance cDntracts we Issued thi5 year went to art15t5 who have cornpleted the programrne.
including freelance operational staff in producing and administrative roles.
Case study
D took part in Young Theatre Makers in 2012. Since completlng the programme, he has..
Tralned at the Royal Central School of Speech & Drama
Appeared in multiple liltn5 and plays
Worked extensively for London Bubble and Cornpllclté
Worked as a freelance movement teacher
D describes the Impact ol taking part with London Bubble..
"Dolng Young The(rtre Mokers mude u dlfference to my Ilfe becouse it helped glve me the conflclente to 17ppIy
for drc7mu School ondfor¢É my w￿Y Into that world. Before, I didn'tleel thut WCTS o world I could be port of or
had any right to join. Being port of Bubble os a company hos mude fnefeel like it's P055ible. Even olter dr¢7mu
school, in o career where nothing is ever secure, Bubble hos 171ways been a Constont ond helped me keep
developing as a creotive..
We employ D as a freelance artist and this year he has delivered Way Into Work wlth young people engaged In
the Youth Justlce service and Playlng Safe, for year 6 pupils at risk of engaging with serious youth vlolence.
Working in partnership to reach more people experlenclng exclusion and Inequality
Our partner5hlp projects allow u5 to reach more people from underserved and low soclo-economic
communltie5 across more London boroughs. This year they have included.,
Our ongoing relatlonship wlth the Southwark Youth Ju5tlCE Servlte, now In Its 10th year, provldlng creatlve
projects that encourage young people within their service to increase their motlvatlon, self-regulation and
positive self-perception. particularly in relation to career devÈlopment.
Southwark Chlldren & Familie5 who comm15s1oned us to dellver Interactive, performances and creative
consultatlon Sessions for p4rÈntS and children in touch wlth their servlces as part of their Southwark Stands
Together Against Racism carnpaiEn. We are also Tegularly commissioned to provide creative actlvltles which
support the social and emotional wellbeing of children engaged with 5peakerbo& Southwark's childTen in care
council.
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The BubbleTheatre Company Limited
Trustees, Report
An excSting new partnershlp with London Museum IformÈrly Museum of Londonl, tor which we have created a
brand-new play Museum of Me. Parr of the museum's Young Londoner's A¥chlve, the play will tour to 33
schools durlnÉ 2024-26, 5pannlng all 33 London boroughs.
These partnerships provide employment for the professlonal performer-facilitators who began thelr journey
with us as Bubble Young Theatre MakÈrs. Our commissioning partner5 comment on the skill, authenticlty and
diver51ty that thls instils across the companv.
Future alms
The reach of the organisation will intrease by a further IO%, building on the 20% Increase In 2023-24
on the prevlous year and enabllng more people from under-represented communitie5 to partlclpate
the arts
We will develop opportunlties for early career artist5 experienclng barrier5 to the arts to make their
own, original theatre, advancing the diver51ty and inclusion of the industry
At least 50% of the freelance contracts we issue will go to artists who began their Journey as Bubble
YoungTheatre Makers
We will increase the percentage of the organisation's Income ra15ed through partnershlp projects
from 20% to 40%
Acknowledgements
The Trustees would like to express their gratltude to the chlldren, young people 3nd older adults who make
London Bubble what it 15. They would like to a150 thank the staff team for enabllng the charit¢s rnisslon and
vision through this challenging year. It Is a testament to their profe551onallsm, commitment, and hard work.
The Trustees and management would also like io thank the freelance aTtist5 who dellver our projects for thelr
skill, creativlty ond dedication. It is thanks to their shared collaboratlve commltment that the children, young
people and older adults whom we support have experienced increased soclal and emotional wellbelng through
acce55 to theatre.
The Trustees would Ilke to express their gratitude to the lollowlng trusts, foundatlons and partner
organisations for thelr generosity and Support..
Amlcable Society's School. Arts Councll EnESan6, British Land, Charterhouse In Southwark, Chrlstlna Smlth
Foundation, Enterprise Arts Trust, Haberd3shers' Benevolent Found3tion, Jack Petchey Foundatlon, The
Merchant T3ylors' Foundation, Peckhzm Settlement, ThÈ Radcliffe Trust, Rotherhithe Con501idated Charltles,
Southwark Charities, London Borough of Southwark, Sylvla Webber Trust, Team London Bridge, Th& D'oyly
Carte Charitable Trust, ThÈ Henry Smith Charity, The London Museum, The Mertrrs, Company, The Natlonal
Lottery Community Fund, United St Saviours's Charity and the W.G Edwards Charitable Foundation.
Financlal revlew
Income
Total Income for the year (Apr 2023 - Mar 20241 arnounted to £346,32412023.. £365,5411, of which £210,727
12023.. £263,774) related to voluntary incorne recewed.
Expense5
Total expenses for the year amounted to £424,794.12023.. £413,034).
The Company's cash flow remalned sufflcient throughout the year.
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The Bubble Theatre Company Limited
Trustees. Report
Going Concern
The budgets and current management account5 for 2023-24 have been reviewed by the Trustees and the
independent examlner, wlth modelling carried out to include a worst-case scenario.
The external economic climate Contlnues to be extremely difficult. and the Trustees acknowledge the
slgnlllcant flnanclal challenges ahead. In re5pon5e, Trustees are taklng all available steps to re-estab115h
sufficlent resources, IncludinE',
A flnance sub-committee of Trustee5 who meet with the CO-CEOS and Flnance Man38er to monitor
progre55 through management accounts, budget forecasts and 12-rnonth ca5hflow prolettlons
Working c105ely wlth the CO-CEOS to ensure that project plans and programme development Is
reviewed carefully for financial risk before commitments are made
Maintaining a sharp focus on financial risk and planning, with transparent communicatlon between
the CO-CEOS and Trustees. Trustees are confldent In the leadership team's excellent relationships
with funders and other stakeholders. including comm15sionlnE Partner organisations and local
authorities.
As highllghted in last year's report. there are materlal uncertalntie5 re18tlng to the Charllv's abllity to carry on
as a going Concern given its significant dependence on raSsing income from trusts and foundations. In this year,
the Charity has successfully Increased its income from fees and commisslons by 33% ro £91,653 12023..
£60.9461 but the challenging funding environment currentlf facing all arts ch3rlt1es has been shown In the
decrease in grant5 from other ch3ritie5 by 24% to £170,09912023'. £223,174).
Considering the plans outlined, our prudent forECaSts and the multi-year income committed from The
Mercer's Company and cornmlsslonlng p3rtners, including the London Museum, at the point of signing of this
documenL It Is nonetheless the Trustees, oplnlon that the Drganisation can continue to operate a5 a going
concern for the fiext twelve months.
Reserves policy
The Charity aims to malntain suffi'cient unrestricted reserves Equivalent to 3 months, operatTrons including
overheads and salaries Icuriently around £49,700). This reserves t3rget was not tnet at 31 March 2024 and Ss
not m@t at present. as adclltlonal strain5 on the operatlng budget have resulted in drawing deeper than
anticipated on unrestricted reserve5 thls year. Financial plans for the cornlng years will set the Eroundwork for
gradual rebulldinE of reserves to meet the reserves policy.
Our reserves posltion at 31 MarEh 2024 was..
General fund: £18,60712023.. £63,552)
Restricted funds,. £17,99012023.. E163,2021
Designated funds.. £111,685, relating to the depreciation of cèpital buildlng works and which have been
transferred from Restricted funds, and
Capital funds- £212023.. £21, provldlng for the depreciatSon of fixed a$5ets purchased uslnE general funding.
Total funds held E148,284
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The Bubble Theatre Company Limited
Trustees, Report
P05T BALANCE SHEET EVENTS
Chrls Sonnex was appointed 3s a Trustee in July 2024.
Trustees and offlcers
The trustees and officers serving durin8 the year and since the year end were a5 follows:
Trustees..
A O Apalara lappolnted 6 December 20231
G Arogundade
G G Bowers
T ChePtenham
EJDHolde
O P Mar3ndos
K Nturnba
A M Shields
T Sithole
M J Webber
Chalrman..
K Nturnba
Chief Executbve Officer..
L R Bradshaw
M A L Vl£ker5
SeC￿tary..
V Brand
Statement Df trustees, iesponsibllitlÈs
The trustee5 Iwho are also the directors of The Bubble Theatre Company Limited lor the purptsses of company
lawl are responsible for preparlnE the trustpes, report and the financial statements in accordance wlth
applicable law and Unlted Kingdom Accounting Standards (United Kingdom General￿ Accepted Accountlng
Practice). including FRS 102 'The Financial Reporting Standard applicable in the UK and Republlc of Ireland"
Company law requlre5 the trustees to prepare financial Statements for each financial year. Under company law
the trustees must not approve the financial statements unless they are sZtSsfled that they glve 3 true and falr
view of the state of affalrs of the charitable company and of the Incoming resources and appllcatlon of
rEsources. Including It5 Income and expènditure, ol the Lh3ritable company for that perlod. In preparlng these
financial statements. the trustees are requlrÈd to..
select 5ultable accounting pollcles and apply them ¢on515tentlv.'
observe the rnÈthods and principles Sn the Charltie5 SORP,.
make judgement5 and estlmate5 that are reasonable and prudent..
state whether appllcable accounting standards, comprising FR5 102 have been followed, suE7ject to any
material departures dlsc105ed and Èxplained in the financial statetnents., and
prepare the financial 5tatement5 On the going concern basis urile5S It is Inapproprlate to pre5urne that the
charltable company will continue in business.
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The Bubble Theatre Company Limited
Trustees, Report
The trustees are responsible lor keeping proper 3ccounting records that can disclose with reasonable accuracy
at any time the financial posltion ol the rharitable company and enable them to ensure that the Ilnancial
statements comply with thÈ Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence foT taking reasonable steps for the prevention and detectlon of fraud and other
The trustees are responsible for the mzintenance and Integrity of the corporate and financlal information
Included on the ¢harl¢able company's websile. Legislation governing the preparation and di55emination of
fTnancial statements may differ from leei513tion in other jurlsdictlons.
The annual report was approved by the trustees of the Charity on 13 December 2024 and signed on its behalf
by..
E J D Holden
Trustee
Page 11

The Bubble Theatre Company Limited
Independent Examiner's Report to the trustees of The Bubble Theatre Company Limited
I'the Company'l
I report to the charity trustees Iwho are also Directors lor the purpose of cornpany lawl on my examination of
the account5 of the The 8ubble Theatre Company Limited I'the charitable company'l for the year Ènded 31
March 2024 which comprise the Statement ol Financial Activities, the 8alante Sheet and related notes 14 to
28.
Thls report is made solely to the charltls trustÈes, as a body, In accordance with section 145 of the Charltles
Act 2011. My work has been undertaken 50 that I might state to the charSty's trustees those rnatter5 13m
requlred to state to them in this report and for no other purpose. To the fullest extent permltted by12w, I do
not accept or a55urne responslblllty to anyone other than the charlty and the charlty's trustees as a body, for
my work, for thls report, or for the opinlons I have formed.
Re5ponslbllltles and basls of rÈport
As the charity's trustees of The Bubble Theatre Company Limited you are responsible for the preparation of
the accounts in accordance with the requirements ol the Companle5 Act 20061'the 2LYJ6 ACVI.
Having satisfied myself that the accounts ol The Bubble Theatre Company limlted are not required to be
audited under Part 16 of the 2006 Act Ènd are eligible for independent examSnation, I report in rÈsped of my
examinatlon of your charitws accounts as carried out under section 145 01 the Charities Act 20111'the 2011
Act'l. In carrying out my examination I have followed the Directions given by the Charlty Ctsmmlssion under
sectlon 14515llbl of the 2011 Act.
An independent examln3tion does not involve gathe¥lng a11 the evldence that would be requlred an 3udlt
and Consequently doÈs not cover all the matters that an audltor IDn51ders In glvlng thelr oplnlon on the
Inanclal Statements. The plannlng and eonducf of an audlt goes beyond the Ilmlted assurance thar an
Independent examlnation can provlde. Consequently l express no opinion as to whether the flnanclal
statements present a 'true and fair, view and my report is Ilmlted to those speclflc matters Set out in the
independent examinerf5 St3tement.
Independent examlner's statement
Since The Bubble Theatre Company Llmited's gross Income exceeded £250,OtM) your examlner must be a
member ol a body 11sted In sectlon 145 of the 2011 Act. I confirm that l am qv21ified to undertake the
examination because l am a member of ICAEW, which is one of the listed bodles.
I have completed my exatnination. I confirm that no tnatters have come to my attentton in connectlon with the
examination giving me cause to believe..
l. accounting record5 were not kept lft respect of The Bubble Theatre Company Llmlted as required bv
section 396 of the 2006 Act,. or
2. the account5 do not accord wlth those record5,' or
3. the accounts do not ttsmply with the accounting r@quirement5 of section 396 of the 2006 Act other than
any requirement that the account5 give a 'true and fair view, which is not a matter considered as part of
)n indÈpÈndent examination,. or
4. the accounts have not been prepared In accoTdance with the methods and principlÈs of the Statement of
Recommended Practice lor accounting and reporting by charitiÈs applitable lo charities preparlne their
accounts In ac£ord3nce with the Financial Reporting Standard applicable In the UK and Republlc of
Ireland IFRS 1021-
Page 12

The Bubble Theatre Company Limlted
Independent Examlner's Report to the trustees of The Bubble Theatre Company Limited
I'the Company'l
I hava no concerns and have cotne across no other matters In connection with thE examination to which
attention should be dTawn in this report in order to enable a pioper understandlng ol the 3CCOUllts to be
Teached.
T1m Sulllvan FCA
ICAEW
9 Hare & BIIIEt Road
Blackheath
SE3 ORB
13 December 2024
Page 13

O Lv
pa

The BubbleTheatre Company Limited
IRegistration number.. 01058397)
Balance Sheet as at 31 March 2024
2024
2023
Note
Flxed assets
Tanglble assets
12
111,684
131,919
Currènt assets
Debtors
Cash at bank and In hand
13
36,818
99,838
18,990
162,026
14
136,656
181,016
Creditors.. Amounts falling due wlthlm one year
15
180,3801
156,6651
Net current assets
56.276
124,351
Total assets less current Ilabllltles
167.960
256.270
Creditor5'. Amounts falllng due after more than one year
16
119.6761
129,5141
Net assets
148,284
226,7S6
Funds of the ¢harlty;
Re5trl¢ted Income funds
Restrlcted funds
17,g90
163,202
Unrestrlcted incorne funds
Deslgnated Funds
General Fund5
111,687
18,607
63.552
Total unrestricted funds
130,294
63,554
Total lunds
17
148,284
226,756
For the Ilnanclal year ending 31 March 2024 the charity was entitled to exemption from audlt under sectlon
477 of the Companies Act 2006 relating to small companie5.
Dlre¢tors' responslbllltles..
The members have not requlred the charity to obtain an audlt of Its ac£ount5 for the year In que5tlon In
accordance wlth sectlon 476,. and
The dlrectors acknowledge thelr responsibilities for cornplying wlth the requirements of the Act wlth
respect ro accountln6 records and the prepar3tion of accounts.
The notes on page$ 18 to 28 form an Inteeral part of these financial statements.
Page 16

The Bubble Theatre Company Limited
(Reglstratlon number: 01058397)
Balance Sheet as at 31 March 2024
The financial statements on pages 14 to 28 were approved by the trustee5, and authorised lor issue on 13
December 2024 and signed on thelr behalf bv..
E J D Holden
Trustee
The note5 on pages 18 to 28 form an integral part ol these financ1315tatement5.
Page 17

The Bubble Theatre Company Llmited
Note5 to the Financial Statements for the Year Ended 31 March 2024
I Charlty status
The charlty is limited by guaiantee, 5ncorporated in England & Wales. and consequently does not have share
capltal. Each of tho trustees is liable to contribute an amount not exceeding £1 toward5 the assets of the
charlty in the event of Ilquidatlon.
The address of its registered office Is..
3&5 Elephant Lane
London
SE16 4JD
These financial statements were authorlsed ftsr Issue by the trustees on 13 December 2024.
2 Accountlns policies
Summary ol signlflcant a¢¢ountln£ policies and liÈy attounting estimates
The principal accounting policies applied in the preparation of these financial statements are set oui below.
These pollcies have been consistently applled to all the years Presented, unless otherwlse stated.
Statement of compliance
The financial ststements have been prepared In accordance with Accountlng and Reporilng by Charltles..
Statement ol Recommended Practlce applicable to chailties preparing thelr 3ccounts in accordance wlth the
Flnanclal Reportlng Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectlve I january 20191
(charities 50RP IFRS 1021- Second edltlon October 20191, the Financlal Reporting Standard appllcable in the
UK and REpublic of Ireland IFRS 1021. They a150 cornply with the Companles Act 2006 and Charities Act 2011.
Ba515 of preparallon
The Bubble Theatre Company Llrnited meets the definition of 3 public benefit entity under FRS 102. Assets and
li3bilities are inltially retognised at historical cost or transactlon v3lue unless otherwise ststed Sn the relevant
accounting pollcy notes.
Golng concern
The trustees consider that the charity is a going concern and th3t there are no significant areas of uncertainty
which affect the c3rrying value ol a55et5 held by the charlty. However. there are materlal uncertaintles relating
to its ability to carry ori ag a goillE concern given its significant dependence on raisine income from trusts and
foundations and other sources, and the challenEin£ funding envlronment currentlyfacing all art5 charities.
Page 18

The Bubble Theatre Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Judgements and key source5 of Estimation uncertainty
In the application ol the charitvs accountinE policSes, the directors are required to make judgements,
estlmates and assumptions about the carrying arnount of asset5 and liabilities that are not readily apparent
from other sources. The estimates 2nd associated assumptions are based on historical Èxperience and other
factors that are considered to be relevant. Actual results may dlffer Irorn these estimates.
The estirnatÈs and underlying a5SUmPtlons are reviewed on an ongoing basis. Revisions to accountlng
estimates are recognised in the perlods in which the estimate is revised where revisions affects only that
period, or In the period ol the revision and future periods where the revlslons affect5 both current and future
perlods.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be
received and the amount of the income receival)le can be measured reliably.
Donottons ond legocies
Donations are recognised when the charity has been notified in writing of both the amount and settlement
date. In the event that a don8tion Is subject to conditions that require a lÈvÈl of performance by the charity
before the charity is entitled to the funds, the income is deferred and not recognised untll either those
conditions are lully met, or the fullilment of those condltions is wholly wlthin the control ol the charlty and It is
probable that these condltlons wlll be fulfilled in the reportln8 perlod.
Grants receivoble
Grants are reco2nised when the charity has an entitlèment to the funds and any conditlons Ilnked to the 8rants
have been met. Where performance condltions are attached to the grant and are yet to be met, the income Is
recognised as a liability and included on the balance sheet as dèferred Income to be released.
Deferred Income
Deferred Income represents arnounts received for future periods and Is released to Incomlng re50ufcES In the
period for whlch, it has been received. Such income is On￿ deferred when-
The donor specllies that the grant or donatlon must only be used In future accountlng period5.' or
- The donor has imposed ¢ondIt￿OnS whlch must be met before the charity has unconditlona5 entitlement.
Investmentln¢ome
Dividends are recognlsed once the dividend has been declared and notiftcation ha5 been received of the
divldend due.
Expenditure
All expenditure Is recognised once there is a leg31 or constructive obligation to that expenditUTe. it Is probable
settlement Is required and the amount can be measured reliably. All costs are allocated to the appllcable
expenditure headiNg that aggregate simi13r costs to that catÈgory. WhEre costs cannot be dlrectly attributed to
particular headlngs they have been allocated on a basis consistent wlth the use of resources, with central staff
cost5 allocated on the basis of time spent, and depreciation charges alloc8ted on the porllon ol the asset's use.
Other support Costs are allocated based on the spread ol staff costs.
Page 19

The Bubble Theatre Company Limited
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
Rulsinglunds
These are costs incurred in attracting voluntary Income, the management of Investments and those Incurred
trading actlvltles that raise funds.
ChurAt&ble uctivltles
Ch3ritable expendituie comprlses those costs Incurred by the charity in the dellvery ol Its actlvltles and
seivlces for Its beneficlarles. It Includes both c05t5 that can be allocated dlrectly to such actlvitle5 and those
C05t5 of a# indlrect nature necessary to support them.
Support costs
Support costs Include central functlons and have been allocated to Brtlvltv C05t categorles on a basis
consistent with the use of resources, for exatnple, allocatinE property costs by floor areas, or pei caplta, staff
costs by the time spent and other costs by their usage.
Governanco costs
ThesÈ include the costs attributable to the charity's compliance with constitutional and statutory
requirements, intluding audit. strategic management and trustee5 rneetSngs and relmbursed expenses.
Taxatlon
The charity Is conslderÈd to pa5S the test5 set out In Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meet5 the dèfinition of a charitable company for UK corpor3tion tax purposes. Accordingly, the
charity is potentially exempt from taxation in respect of income or capit31 Ealns received wlthln tatÈgorles
covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992, to the extent that such income or gain5 are applied exclusively to charitable purpose5.
Tanglble flxed asse15
Individual fixed a55etS f05ting £100 or more are initially recorded at cost, less any subsequent accumulated
depreciation and subsequent acrumulated impairment losses.
Depreciatlon and amortlsatlon
Deproc13tion is provided on tan8lblÈ fSxed assets so as to write off the cost or v81u3tion, less any Estlmated
residual value, over their expected useful economic Ille a5 follow5..
Asset class
BulldSnE Improvements
TheatTe and ofllce equipment
Depreciation method and rate
16 year 5tralght line
4 yearstr3ight Ilne
Trade debtors
Trade debtors are amount5 due Irorll tustomers for merchandisÈ sold or servlces perforrlled in the ordinary
course of buslness.
Trade debtors are reCog￿lsed initially at the transaction price. They are subsequently measured at amortlsed
cost U51ng the elfective interest method, less provision lor itnpaiiment. A prov5slon for the impairment ol trade
debtors 15 e5tab115hed when there is objective evidence that the char5ty will not be able to collect all amounts
due according to the orlglnal terms of the receivable5.
Page 20

The Bubble Theatre Company Llmited
Notes to the Financial Statements for the Year Ended 31 March 2024
Cash and cash equlvalents
Cash and cash equivalents comprise Cash on h3nd and call deposlls, and other short-term hlghly Ilquid
investments that are readily convertible to a known amounl of cash and are subject to an Inslgnllicant rlsk of
change in value.
Trade credltDrs
Trade creditors are obligations to pay for goods or se￿iCe5 that have been acqulred in the ordinary course of
business from suppliers. Accounts payable are cla55111ed as cuirent 113bilities 11 the tharlty does not have an
unconditional Tight, at the end of the reporting perSod, to defer settletnent of the CFedltgr for at1ea5t iwelve
months alier the reporting date. If there 15 an unconditional rlEht to defer settlement lor at least twelve
months after the reporting date. they are presented as non-current Ilabllities.
Trad& creditors are recognised initially at the transaction pri￿ and subsequently measured al amortlsed cost
using the effective Inter&st rnethod.
BorrowlnKS
Interest-bearlng borrowings are initially rÈcorded at fair value. net of transèction costs. Interest-bearing
borrowings are subsequently carried at amortised cost. with the differente between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Statement of
Fln3ncial Activities over the period of the relevant borrowing.
Interest eKpen5e Is recognlsed on the b3sls ol the eflectfve Interest rnethod and Is In£luded in Interest payable
and slmilar charges.
Borrowings are classified as current Ilabilitie5 unless the charity has an unconditional rlght to defer settlement
of the Ilability lor at least twelve month5 after the reporting date.
Fund 5tru£tuYe
Unrestrlcted income funds are Eeneral funds that are avallable for use at the trustees dlscretlon In furtherance
of the objectives of the charity.
DesignHtod funds are unrestrlcted funds set aside lor 5peclflc purposes at the discretlon of the trustees.
Restrlcted Income funds are those donated for use in a particular area or for speclfic purposes, the use ol
which Is restricted to that area or purpose.
Page 21

The BubbleTheatre Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Income Irom donations and legacles
Unrestrlcted
funds
fjeneral
Restricted
lunds
Total
2024
Total
2023
Donatlons and legacies,.
Donatlons
35,628
33.000
S,(K>O
137.099
40,628
170,099
40,600
223.174
Grants from other charltles
68,629
142,099
210,727
263,774
Grants
Restrlcted
Unrestrlcted
Total
Amlcable Socioty's School
Arts Council England
Brit15h Land
4,9(K)
4,900
23,106
23,106
5,005
5,005
Charterhouse in Southwark
4,0(M)
4,000
christina Smith Found3tion
14.220
14,220
Enterprlse Art5 Trust
Haberdashers. BÈnelovent Foundation
1,000
1,000
3,054
3,054
1,800
lack Petchey Foundation
The Merchant Taylor5, Foundation
Peckham Settlement
1,800
4,600
4,600
2,500
2,500
The Radcliffe Trust
4,01)0
4,000
Rotherhithe Consolldated Charitles
3,000
3,000
Southwark Cha¥itles
3,000
3.000
London Boroueh of Southwark
Sylvia Webber Trust
Team London BrfdEe
The D'oyly Carte Charitable Trusl
The Henry Smith Charity
The Mercers, Company
The Natlonal Lottery Cornrnunliy Fund
Unlted St Saviours's Charity
W.G Edwards Charitable Foundation
2,500
2,500
1.500
1,500
2,832
2,832
3,000
3,000
17,500
17,SOO
18.500
18,500
4,582
4,582
12.000
31,500
43,500
2,000
2,000
137.099
33,000
170,099
Paee 22

The Bubble Theatre Company Limlted
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Income from charltable actlvltles
Unresirlcted
funds
Geneial
Total
2024
Total
2023
Fees
17,625
74.028
17.625
74,028
60,946
CommSsslon
91.653
91.6S3
60.946
5 Investment Incom
Unrestrl¢ted
funds
General
Total
2024
Total
Z023
Interest receivable and similar income,.
IntÈrest recelvable on bank deposits
37
37
12
6 Other Income
Unrestricted
funds
General
Total
2024
Total
2023
Tradlng
Rental Incotne
I,B24
42.083
1,824
42,083
loo
40,709
43.907
43,907
40,809
7 Expendlture on raisbng funds
I Costs of generatlng donatlons and lega¢lÈs
Total
2024
Yotal
2023
Note
Fundraising costs
IB,132
8,400
Pase 23

The BubbleTheatre Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Expendlture on charltable activlties
Total
2024
Total
2023
Note
Project costs
Marketing and communications
Consulting and Freelance
Staff costs
18,785
10,701
108.446
191.203
77.529
17,228
2,187
92,435
209,876
82,908
io
Allocated support cos
406,664
404,634
In addition to the expenditure analysed above, there are a150 SUPPOrt C05t5 of E77,52912023 £82.9081 whlch
relate directly to charltable actlvltles. See note 9 for further detsils.
9 Anatysls of support costs
Support costs
Total
2024
Total
2023
5undries
Rent and rates
25,ODO
566
25.ODO
1,109
7,114
4,760
ID,346
3,576
3,103
1,555
28
Water rates
Light, heat and power
Insurance
7,020
4,726
10,850
1,644
2,263
576
General maintenance
Computer software and maintenance
Prlnting. postage and stationery
Trade subscriptlons
Cost of trustee meetings
Independent ex3mlner
Bank charges
Depreciation of freehold property
ltrecoverable VAT
1,900
1,479
20,234
1,270
2,350
2,004
20,234
1,729
77,529
82,908
Page 24

The Bubble Theatre Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Staff cost5
The a8Bregate payroll c05ts wÈre ès follow5..
2024
2023
staff cost5 durlnE the year were..
Wages and s313ries
Soclal security c05t5
Pen51on costs
170,557
12,029
5,631
2,986
186,199
12,674
5,744
5,259
Other staff costs
191.203
209,876
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key rnanagement personnel of the charity were £103,06012023- É79,1341.
11 Taxatlon
The charity Is a reglstered charity and 15 therefore exempt from taxatlon.
12 Tangible fixed assets
Land and
bulldings
Furniture and
equlpment
Theatre
equipment
Total
Cost
At l April 2023
323,750
33.607
86,777
444,134
At 31 March 2024
323,750
33,607
86,777
444,134
Depreciatlon
At l April 2023
Charge lor the year
191,832
20,234
33,607
86,777
312,216
20,234
At 31 March 2024
212,066
33,607
86.777
332,450
Net bool( value
At 31 March 2024
111,684
111,684
At 31 March 2023
131,918
131,918
Page 25

The Bubble Theatre Company Limited
Note5 to the Financial Statements for the Year Ended 31 March 2024
13 Debtors
2024
2023
Trade debtors
31,608
2,169
3.041
16,365
Prepayments
Accrued income
2.625
36,818
18,990
14 Cash and cash equlvalents
2024
2023
Cash on hand
Cash at bank
492
853
99,346
161,173
99.838
162,026
15 Credltors.. amount5 falling due wlthln one year
2024
2023
Bank loans
9,837
20,686
4,505
8,643
3,430
3,092
30,187
9,837
18,436
4,663
4,801
1,534
3,489
13,905
Trade creditors
Other taxatlon and 50clal security
VAT
other credlttsrs
Accruals
Deferred Income
80,380
56,665
16 Creditors: amounts falllng due after one year
Z024
2023
Bank loans
19,676
29,514
Page 26

The Bubble Theatre Company Limited
Note5 to the Financial Statements for the Year Ended 31 March 2024
17 Funds
B81ance al
31 March
2024
Balance at I
Aprll 2023
Incoming
resources
Resource5
expended
Transfers
Unrestricted lunds
General fund
53,552
204,225
1249,1701
18,607
Capital fund
Building fund
111,685
111.685
111,685
111,687
Total unresirlcted funds
63,554
204,225
1249,1701
111,685
130,294
Restrlcted funds
Building fund
Proloct fund
131,919
31,283
120.2341
1155,3921
1111,6851
142,099
17,990
163,202
142,099
IL75,6261
1111,6851
17,990
Total fund5
226,756
346,324
1424,7961
148,284
Balance at
31 March
2023
Balance at I
ApTII 2022
IncomlnB
resour￿$
Resources
expended
Transfers
Unrestrirted lunds
General fund
113,295
186,742
1187,0431
149,4421
63,552
Capital fund
Total unrestricted fuNd5
113.297
186,742
1187,0431
149,4421
63,554
Restricted funds
Bullding fund
Project fund
152,152
8.800
120,2331
1205,7581
131.919
31,283
178,799
49,442
160,952
178,799
1225,9911
49,442
163.202
Total iunds
274,249
365,541
1413,0341
226,756
Page 27

The Bubble Theatre Company Llmited
Notes to the Financial Statements for the Year Ended 31 March 2024
The specific purpose5 foi whlch the funds are to be applied are 35 follows..
Capltal fund The balance wlll fund future depreciatlon of fixed assets which were originally purchased uslng
general funds.
Project reserve fund The trustees have ¢reated this fund to provlde the charity with the means to maintain a
level of actitivites while sourcing new funds on a conllnuing bas15. Thls will be revlewed and an amount
designated at thp beginning ol each year.
Project fund- Thls is a fund ol donatiorss and eamed Income from comrnlsslons and fees, deslgnated to speclflc
Bullding fund This fvnd was established to raise monies lor capital improvements to the Bubble Theatre
Bullding, especially for access to the theatre.
Projectfvnd Thls is a fund of restrlcted grant funding that is recelved lor specillc artlstlc activity projects.
18 Analysls of net assets between fur¥ds
Total funds at
31 Marth
2024
Unrestricted funds
Gèneral
Designated
Restricted
funds
Tangible fixed a55et5
Current assets
111.684
111,684
136,656
180,3801
119.6751
118,663
180,3801
119,6761
17,990
Creditors over l year
Total net assets
18,607
111,687
17,990
148,284
Unrestrlcted
fund5
General
Total funds at
31 March
2023
Restrlcted
funds
Tangible fixed assets
CL¢rrent assets
131,919
31,283
131,919
181.016
156,6651
129,5141
149.733
156,6651
129,5141
CreditOf5 over l year
Tot31 net as5et5
63,554
163,202
226.756
Page 28