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2025-03-31-accounts

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

REPORT AND FINANCIAL STATEMENTS

31ST MARCH 2025

REGISTERED NUMBER: 01472949

CHARITY NUMBER: 279458

Frank Lachman Chartered Accountant

31 Fairview Way Edgware Middlesex HA8 8JE

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

FINANCIAL STATEMENTS

for the year ended 31st March 2025

Pages
CONTENTS
Legal & Administrative Information 3
Report of the Committee of Management 4-11
Independent examiner's report to the members 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 19

ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) for the year ended 31st March 2025

LEGAL AND ADMINISTRATIVE INFORMATION

Directors and trustees

The directors of the charitable company (Actors Touring Company (London) Limited) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees are non-executive and unpaid.

As set out in the Articles of Association the trustees can be appointed at any time throughout the year and stand for re-election at the AGM. Rotation of directors is by one third of the longest serving directors retiring at the AGM with no disbar to reappointment.

The Board provides guidance on, and formally approves, appropriate policies for the company. An induction process for new trustees and ongoing training for trustees supports our aim to embody best practice in governance.

The trustees during the year and since the year end, were:

Laila Alj Appointed 30 June 2025 Sudha Bhuchar Geraldine Brodie (Chair) Maria Delgado David Alan Evans (Vice Chair and Chair of Finance Committee) Eleni Gill Appointed 30 June 2025 Sarita Godber Appointed 30 June 2025 Sarah Grochala (Chair of Artistic Evaluation Group) Sanpreet Janjua (Chair of Development Committee) Vincent Keaveny Resigned 30 December 2024 Margherita Laera Feeroza Patel Appointed 30 June 2025 Nick Tyler Christiaan-Willem Van Der Sluijs Appointed 30 June 2025 Company Secretary Andrew Smaje to April 2024 Juliana Bearse from 26 April 2024 Artistic Director Matthew Xia Executive Director Amber Massie-Blomfield Interim April 2024 to September 2024 Jo Royce October 2024 to June 2025 Helen Jeffreys Interim from June 2025

Independent Examiners

Frank S Lachman & Co, 31 Fairview Way, Edgware, Middlesex HA8 8JE

Bankers

Barclays Bank plc, Soho Square Business Centre, 27 Soho Square, London W1A 4WA (all transactions) Shawbrook Bank Ltd, Lutea House, Warley Hill Business Park, Great Warley, Essex CM13 3BE (savings, limited access)

Registered office and operation address

3.04 Carlton Mansions, 387 Coldharbour Lane, London SW9 8QD

Name

"Actors Touring Company" and "ATC" are the trading names used by Actors Touring Company (London) Limited.

Page 3

DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

Overview of the year

2024-25 was an exciting and ambitious year for ATC as we have actively pursued our artistic ambitions to tour extensively across England, build audience engagement with Global Majority audiences and commission new work from artists of global heritage.

Amongst our successes, we have:

Challenges and mitigations

The landscape in which ATC works continues to be increasingly challenging. Across the theatre sector, rising costs set against cuts to funding or standstill funding means that producers and venues are feeling the strain. Similarly, audiences are having to make difficult choices about where they spend their money and box office trends indicate lower than anticipated capacity and lastminute bookings. The cost of living and producing has meant that we have experienced higher costs on Tambo & Bones and more recharges from venues, set against lower than anticipated sales due to the box office patterns that are prevalent across the sector.

We have mitigated the risk of the current sector landscape through negotiation of guarantees and co-producing fees and employing robust financial controls. ATC holds 6 months’ operating costs in reserves and designated funds to invest in productions and organisational development.

Financial performance

ATC closes the year in a strong financial position, ending with a surplus of £7,265 and holding £172,092 in reserves.

Thanks

I would like to thank my fellow Board of Trustees, along with the ATC team and our many creative freelancers, whose dedication and hard work across the year means that ATC continues to go from strength to strength.

I am also grateful to our key stakeholders, to Arts Council England for their continued support of ATC as a National Portfolio Organisation, to our co-producing partners (Royal & Derngate, Northampton, Liverpool Everyman & Playhouse, Belgrade Coventry, Theatre Royal Stratford East, Leeds Playhouse and Greenwich + Docklands International Festival) to our funders (Esmee Fairbairn Foundation, John Ellerman Foundation, Wates Foundation, Stanley Thomas Johnson Foundation and 29 May 1961 Foundation) for their support and commitment. Without you, we would not be able to make the bold, innovative and ambitious work that we do.

And to our audiences, for whom we make the work, and who tell us how important it is to see a range of global stories told in their local venues, we look forward to bringing you a programme of extraordinary shows in 2025/26 and beyond.

Geraldine Brodie Chair of Trustees

Page 4

DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

REPORT OF THE COMMITTEE OF MANAGEMENT

Principal Activity and Charitable Objective

The company's principal activities and charitable objectives are to promote, maintain, improve and advance education, particularly by the production of educational plays and the encouragement of the Arts.

Misson Statement

Actors Touring Company is a portable portal to the world. Through our work, we connect global artistic voices to local communities. ATC has an unrivalled track record in commissioning, producing and touring contemporary international plays that amplify and celebrate global artists from both within and beyond the UK. Our work explores ideas of intersectionality, identity and belonging – opening conversations across borders both geographic and cultural. We tour to venues of all scales and sizes, and to places the length and breadth of the UK. We engage with communities whose experiences are under-represented on our stages, and we invite traditional theatre audiences to share the journey. Since 1980, we have premiered over 200 new plays and translations from the Middle East, South & South East Asia, Eastern, Northern and Central Europe, Australia and North America – bringing global stories to UK audiences from Scotland to Cornwall, from Merseyside to Suffolk. Our international touring includes Turkey, Finland, Spain, USA, and we’ve licensed our productions in Australia, France, Belgium and Denmark. We are recognised as a leading commissioner of plays by writers from the global cultures within the UK.

Structure, Governance & Management

Leadership

Matthew Xia is Artistic Director and Chief Executive of ATC. Matthew Xia is a leading figure in the cultural sector and is a multi-awardwinning theatre director. Awards include an Olivier Award, Genesis Directors Award and an honorary doctorate (UAL) for promoting accessibility and diversity in the arts. Alongside his artistic leadership of ATC he is Vice Chair at Cardboard Citizens and Get Into Theatre. Matthew is a regular panelist, advisor and judge on initiatives to improve equity and representation in the arts and offers mentoring and support to emerging artists and directors.

Matthew works alongside ATC’s Executive Director to lead the organisation strategically, financially and operationally. In January 2025, Matthew Xia and Jo Royce were named in the Stage 100 list of influential people in British Theatre.

Governance

Actors Touring Company is a charity and a company limited by guarantee. It has a committed Board of Trustees which monitors the company’s activities, oversees its financial viability, sets policy and fulfils the fiduciary and legal requirements of charities and limited companies.

The Board approves annual budgets and quarterly management accounts and reviews the Risk Register each quarter. Trustees review all policies and procedures and key monitoring data.

All Board reports and monitoring of progress against targets have been done through the lens of Arts Council England (ACE) Let’s Create Investment Principles since the implementation of ACE’s new 10-year strategy in 2021.

ATC’s Board meets quarterly, as do 3 subcommittees:

The Chair and Executives meet fortnightly, discussing:

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

We have an active Conflict of Interest Policy. COI is a standing item for update and review at Board meetings. Skills Audits and Equality and Diversity Monitoring data is updated annually, to inform Board recruitment needs.

Current trustees have experience in arts leadership, the environment, fundraising, finance, governance, law, playwriting, directing, human resources, producing, acting, teaching, translation, research and inclusive practices.

Board members are appointed for a three-year term, with the longest-standing retiring at AGM and eligible for re-election. The Board reviews its membership periodically, seeking to identify underrepresented groups and skills and address those in trustee recruitment.

Board members are recruited externally. In-depth interviews with Chair and Executive management make clear the roles and responsibilities of trustees and seek to understand the qualities that potential trustees would bring to the organisation. A detailed Induction Pack is provided prior to appointment of new trustees, making clear the legal obligations as well as the Board’s expectations of a trustee. This includes embedding the values of the organisation and registering conflicts of interest. New trustees are allocated a board 'buddy', annual trustee appraisals are carried out and trustee training is reviewed and discussed at board meetings.

The trustees would like to thank Vincent Keaveny, who stepped down after 10 years on the Board. A Board recruitment took place in early 2025 and we were pleased to welcome 5 new board members in June 2025, bringing extensive expertise in theatre, education, law, HR and inclusion, and communications.

Team Structure

Our team in 2024-25 comprised:

We were thrilled to receive funding from Esmee Fairbairn Foundation, John Ellerman Foundation and Wates Foundation in year. This funding has supported the recruitment of a 12-month fixed-term Associate Director post, for an emerging creative from the Global Majority to work with ATC and gain extensive experience of working within a producing and touring organisation. Ongoing funding will allow us to maintain this role for three years.

More about the team and the ATC Board can be found at www.atctheatre.com/about

ATC is committed to providing the best organisational and HR practices. We have in place equality and diversity, environmental, health and safety, training and development policies and action plans. We offer flexible, hybrid and part-time working options. One member of our team is training in mental health first aid.

In 2024-25 ATC employed 60 freelancers, reflecting the fact that 80% of all theatre workers are employed on short-term contracts. Production and stage managers, actors, designers, and playwrights are all employed by ATC according to the needs of each individual project.

ATC remains committed to representation in our core staff team and the freelancers we engage across our programme, ensuring that we reflect the work we make on stage and the audiences we seek to reach. In 2024/25, 65% of our freelancers came from global majority backgrounds.

Best Practice in Employment

ATC is fully committed to the principles of PIPA (Parents in the Performing Arts) https://pipacampaign.org and is a PIPA Charter Partner. Allied to this, we have discrete policies to support Flexible Working and Working from Home.

ATC is a long-standing member of the Independent Theatre Council (ITC). The company is an ITC Ethical Manager which means that we are committed to paying at least the ITC/Equity minimum salary rates to actors and stage management, as well as using pre-negotiated ITC contracts. We are also committed to paying above Living Wage to hourly paid staff.

Employment and Recruitment practices

We strive to lead the field in equitable employment and recruitment practices, working alongside initiatives such as the Antiracism touring rider, Open Hire and Back Stage Niche when reviewing our internal policies and recruiting. ATC undertakes open recruitment for all part-time, full-time and permanent posts, and stage management and technical freelance roles.

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

Funding & Business Model

Actors Touring Company operates with a mixed revenue model, with income generated from a variety of sources: Arts Council England (ACE) funding, co-production partnerships, financial deals with venues and festivals (including fees, guarantees and share of box office), philanthropic support and grants from charitable trusts and foundations.

Arts Council England is our principal funder. ATC is a National Portfolio Organisation (NPO), which means that we have regular annual funding, which can be renewed by a new application to the Portfolio that takes place typically every 3 years. ATC has been successfully sustained by support from ACE throughout its history, with our current investment confirmed until March 2027.

This year we have received two sizeable three-year grants from Esmee Fairbairn and John Ellerman. We are also grateful to the Wates Foundation for supporting the organisation with a three-year grant commitment.

Since its introduction in 2014, Theatre Tax Relief has become a vital part of our income model. Theatre Tax Relief is accounted for in the financial year the associated production takes place and is accrued in the accounts until it is received by the company, often the following tax year when accounts have been submitted to HMRC. For 2024/25, ATC is accruing £135,204 of TTR against productions of Bodies of Water and the tour of Tambo & Bones.

In 2024/25 the split of revenue funding was:

Collaboration and co-production are central to ATC’s business model. To mount our productions, we require investment from venue and producing partners; as co-producers or presenting partners to enable us to realise our work. We are funded to produce 1-2 productions/tours per year. The main reach of our work is across England (as per our Arts Council England funding agreement); we have previously worked in Wales, Scotland, Northern Ireland and outside the UK.

Risk Management

The Trustees and Senior management review risk on a regular basis.

We maintain and review a detailed Risk Register, allowing us to monitor and record risk. The Board and staff work together in reviewing the Risk Register. Further in-depth financial analysis is undertaken by the Finance sub-committee in advance of each Board meeting, with the sub-committee presenting its findings to the full Board.

The net costs of individual projects are approved in the annual budget-setting process, clearly identifying any financial risk to the company on all artistic activities. For major projects and productions, a greenlighting process is in place, to ensure the board can review the feasibility and risk level of projects before the company commits to full production.

The Trustees are satisfied that the company has strategies and policies that effectively mitigate against risk and these form part of our reporting to Arts Council England.

Public Benefit

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

The company's wide-reaching touring programme allows for the distribution of dramas that audiences would not otherwise experience, particularly premieres of international or new plays. We engage national audiences with plays that originate from across the globe.

Diversity, Equality, Equity, and Representation

ATC wholeheartedly embraces the intersectional nation and world in which we operate. Global and intersectional perspectives are in the DNA of our mission, our values and our work.

We connect with a range of communities locally, nationally and internationally and we seek to actively reflect this diversity in our artistic activities, our employment practices and our governance.

ATC believes that words are only effective if they are followed up by actions and so our approach to Diversity, Equity, Equality and Representation (DEER) is embedded throughout our policies, practice and governance. Regular training is undertaken by

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

the Board, executive and team in areas such as anti-racism and disability awareness.

ATC’s DEER policy is reviewed by the Board every two years (with the next review due in March 2026). The values and actions it represents is supported by an accountable working group of the Board to whom members of the staff and creative teams can connect with at any point to raise questions, concerns or bring forward ideas and opportunities. This may include new approaches or training opportunities.

Environmental

We recognise that the nature of touring is such that there can be unavoidable environmental impacts. We seek to minimise our environmental impact in our office use, business travel, and productions. We aim to minimise wastefulness in our productions and encourage recycling of all materials – from scripts to design - throughout a project’s lifetime.

We are committed to using the Theatre Green Book parameters and Julie’s Bicycle reporting tools to direct our approach and guide our ethical practices. We have a dedicated Green Rider in all our contracts with venues, creative teams and freelancers, confirming our commitment to reducing our environmental impact.

Nick Tyler acts as a specialist Environmental Champion on the Board, supporting the development and delivery of the organisation’s Environmental Action Plan (review due December 2025). This approach has been commended by the Arts Council as an example of best practice around sustainable Board engagement.

Achievements and Future Plans

Main Achievements – Artistic Productions

Reach and scale of work

During 2024/25, ATC:

Bodies of Water

“no one leaves home unless home is the mouth of a shark”

– Warsan Shire

ATC’s exciting and evocative new production, Bodies of Water, brought together outdoor performance and community cocreation, in an approach that was the first of its kind for ATC. Co-produced with and presented at Greenwich and Docklands International Festival, Bodies of Water was the third time ATC has participated in the renowned celebration of outdoor arts and performance.

Over 10-weeks, ATC facilitated a participation program with members of the sanctuary-seeking community across Southeast London, resulting in an evocative and powerful piece of theatre staged on the banks of the Thames in August 2024.

The production showcased the testimonies of those with lived experience of the asylum system, woven together with Warsan Shire’s soul-stirring poem HOME performed by professional actor Laila Alj, and live music by one of the UK’s leading oud players, Rihab Azar.

Bodies of Water humanised the headlines, offering real stories of belonging, home, and joy - told by those who had lived them.

Dramaturg and facilitator Francesca Beard supported over 40 participants from Deptford and Greenwich to explore themes of “home”. Through workshops, they developed performance skills, confidence, and connections across participating groups, creating their own responses to the poem. This process culminated in a two-week rehearsal period at the Ahoy Centre in Deptford, where Director Matthew Xia shaped the participants’ work into a professional production – ready for a live audience.

The final performances featured 18 community members. The professional rehearsal environment ensured that community performers felt respected and valued as artists.

“We made our stories into one story, as one, through cooperation, teamwork, trust and love”. - Community performers

This ethos and approach resulted in an exceptional quality of performance that was witnessed by over 1,200 audience

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

members during its weeklong run, with capacity increased due to high demand.

One audience member described Bodies of Water as “a collective antidote to the state of the world,” while The Stage called it “deeply moving.” The piece’s topical nature brought national attention, with Channel 4 News broadcasting a feature on the production.

Our partnerships with local charity organisations All Change Arts, Creating Ground, and Women for Refugee Women were instrumental to the success of the project. ATC ensured all participants were supported throughout the process by covering food and travel costs to eliminate barriers to participation. Additionally, a dedicated wellbeing counsellor provided emotional support, creating a safe space for participants to explore and share their experiences with care and dignity at the centre of the process.

“For refugee women isolated and discriminated against in London, it’s so important to see the creative industries stepping up to welcome and support the women, building their skills and making them feel part of a beautiful artistic community.” Women for Refugee Women

Tambo & Bones

ATC was pleased to open the first national tour of the critically acclaimed Tambo & Bones by Dave Harris, opening at Royal & Derngate Northampton in March 2025. Production and opening week in Northampton took place prior to touring to Leeds, Coventry, Liverpool, Manchester with a return to Stratford East, London, where the show originally opened in July 2023.

Directed by Matthew Xia, the original creative team returned to the production, alongside performers Daniel Ward, Dru Cripps and Jaron Lemmons. The role of Tambo is played by Clifford Samuel, who said of joining: “Stepping into the role of Tambo is both a thrilling challenge and a privilege. Collaborating with such an extraordinary team fuels my passion for the craft. I’m eager to witness how audiences engage with the story and the production we’ve brought to life.”

The tour was ATC’s largest scale tour to date, performing in theatres of 400-700 capacity and demonstrates the artistic ambition of the organisation.

The production opened in Royal & Derngate Northampton, prior to the first venue on the tour, Liverpool Everyman & Playhouse. The remaining tour dates took place in the financial year 2025/26.

Headline statistics for performances occurring in 2024/25 are:

Royal & Derngate:

Liverpool Everyman & Playhouse

Seeking to unite marketing and audience development approaches and make connections across regional venues, ATC hosted two Town Hall sessions to excite and engage venue team members (from Marketing, Programming, Front of House) and to share key insights into the production. We also used a Town Hall session to develop strategies for Community

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

Nights (also known as BlackOut nights), to support venues to make this radical invitation to their local communities and welcome them to the production. We created dedicated FAQ and briefing documents to support the venues and to ensure that they were a positive experience for the audiences, Front of House teams and the cast and creative teams on stage.

ATC also used a centralised Basecamp platform to update all venue teams with the same information and to connect strategies across regional touring venues. The best results came from the venues who actively engaged with this platform, although all venues fed back that working together in this way was incredibly useful in sharing ideas and insights.

We collaborated with Bread & Butter PR on the press and communications strategy for the production. As the show had been extensively reviewed for the opening in Stratford in 2023, Bread & Butter focused on building the show’s profile across new channels and diverse audiences (including music and lifestyle press).

The local press reception (led by venue PR teams) was incredibly receptive, building on the positive reviews from the original run. This includes Manchester Theatres review giving the show 5 stars and claiming: “There is nothing quite like this play anywhere else on earth. You’ll be truly missing out if you don’t go.”

A 5-star review on Reviews Hub said: “Tambo & Bones is a lot of fun and packed full of terrific punchlines, its true brilliance is in the thought it provokes. Harris’s writing runs through time, yet the longing for identity, and for the world to ‘wake up’ to institutional racism, reiterates this work as urgent as it was upon its UK premiere, at this same theatre, two years ago. A shocking and scintillating piece of theatre.”

Prior to opening, Tambo & Bones was listed by many outlets as a “Show to Watch” in the 2025 new year lists, including The Stage, The Guardian, TimeOut. Profile building came in the form of significant BBC Radio coverage including interviews with Matthew Xia on 6Music and BBC London.

Research & Development

Project Development / Future Plans

Financial Review

Financial Performance

ATC closed financial year 2024/25 with a surplus of £7,265, holding £172,092 in reserves.

Its annual turnover was £538,788, compared to £482,173 in 2023/24 (an increase of 11.74%).

The increased turnover can be attributed to:

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

Fundraising and Development

2024/25 saw great success in Trusts and Foundations fundraising, achieving £109,427 of income from grant sources. A decision was made to invest operational funds in resourcing support from dedicated freelance fundraising consultants, which reaped dividends. ATC’s overall fundraising strategy continues to be supported by the Development subcommittee, led by trustee Sanpreet Janjua.

ATC secured three, three-year core operational grants from John Ellerman Foundation, Esmee Fairbairn Foundation, in support of audience development and the roles of Associate Director, and a three-year restricted grant from Wates Foundation for the Senior Producer & Audience Development Lead role.

Additional grants received in year include the Stanley Thomas Johnson Foundation (for Bodies of Water ) and The 29[th] May 1961 Charitable Trust (for Tambo & Bones wraparound activity).

As a registered charity. ATC is hugely grateful for the support it receives through public investment, grants and individual donations and would like to particularly thank the following for their support in 2024/25:

Reserves

ATC closed the year with a free reserves position of £168,492, allocated as follows:

In addition, we hold a restricted reserve of £3,600, following a grant from The 29[th] May 1961 Charitable Trust for Tambo & Bones wraparound activity to be delivered in 2025/26.

ATC conducted its annual review and updated its Reserves Policy in December 2024 in line with best practice and is satisfied that the current reserves along with cashflow forecast support the organisation to be a going concern for 2025/26.

Independent Examiners

The Trustees recommended at their AGM that Lachmann & Co continue as the company’s independent examiners.

Small Company Exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on and signed on its behalf by:

Geraldine Brodie Chair of Trustees

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DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2025 ACTORS TOURING COMPANY (LONDON) LIMITED

INDEPENDENT EXAMINERS REPORT

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2025 which are set out on pages 13 to 19.

Responsibilities and basis of report

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

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

Independent examiner's report

Since the company’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 & Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

(2) the accounts do not accord with those accounting records; or

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

(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Frank S Lachman Chartered Accountant Independent Examiner

31 Fairview Way Edgware Middlesex HA8 8JE

Page 12

ACTORS TOURING COMPANY (LONDON) LIMITED

A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

STATEMENT OF FINANCIAL ACTIVITIES Including INCOME AND EXPENDITURE ACCOUNT

for the year ended 31st March 2025

Note
Income from:
- Legacies and donations
2
Charitable activities
3
Investments
Expenditure on:
Charitable Activity Costs
4
Net income
Total Funds brought forward
Transfers
Total Funds carried forward
12
-
213,940
213,940
-
216,293
216,293
23,477
301,369
324,846
10,513
255,367
265,880
Total
Funds
Total
Funds
2025
Restricted Unrestricted
2024
Funds
Funds
£
£
£
£
Restricted Unrestricted
Funds
Funds
£
£
-
2
2
-
-
-
23,477
515,311
538,788
10,513
471,660
482,173
19,877
511,646
531,523
10,513
528,199
538,712
19,877
511,646
531,523
10,513
528,199
538,712
3,600
3,665
7,265
-
(56,539)
(56,539)
-
164,827
164,827
-
221,366
221,366
-
-
-
-
-
-
3,600
168,492
172,092
-
164,827
164,827

The notes on pages 15 to 19 form part of these accounts.

Page 13

ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

BALANCE SHEET AS AT 31st MARCH 2025

Note
2025
£
£
£
Tangible Fixed Assets
9
-
Current assets
333,809
185,015
20,188
Net current (liabilities)/ assets
172,092
Total assets less current liabilities
172,092
Funds
Total Funds
12
172,092
Creditors: amounts falling due within one
year
11
161,717
Debtors
Cash at bank and in hand
10
251,981
81,828
112,955
72,060		 2024
£
-
164,827
164,827
164,827

For the year ended 31 March 2025 the company was entitled to exemption under section 477(2) of the Companies Act 2006.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for:

i. ensuring the company keeps accounting records which comply with section 386; and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.

The accounts have been prepared in accordance with the special provisions in Part 15 applicable to companies subject to the small companies’ regime under Companies Act 2006 and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

Approved by the board on

and signed on their behalf by Geraldine Brodie

Chair of the Board of Trustees Geraldine Brodie

Page 14

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS for the year to 31st March 2025

Accounting policies

(a) Financial Statements

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 2022) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Actors Touring Company (London) Limited 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 notes.

(ii) Tangible Fixed Assets

Depreciation is calculated to write down the cost less estimated residual value of assets by the reducing balance method over their expected useful lives at the following rates.

Furniture, fixtures and equipment 25% on straight line basis

(iii) Income

Income derived from co-production agreements, performance fees and other sales is credited to the Statement of Financial Affairs (SOFA) in the period to which it relates on the basis of entitlement - excluding value added tax. Grants and donations represent amounts from individuals, corporations, trusts and other funding bodies and are credited to the SOFA in the year in which they are expended.

(iv) Expenditure

All expenditure is accounted for on an accruals basis excluding value added tax.

Costs are allocated to a category in the SOFA either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the SOFA Categories.

Support costs consist of infrastructure costs for salaries, premises and office administration. Such costs are apportioned on a reasonable and consistent basis to the various SOFA categories with a view to determining, as accurately as

possible, the total resources expended for each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each SOFA category of cost.

(v) Debtors

Trade and other debtors are recognised at the net settlement amount. Prepayments are valued at the amount relating to the next financial year

(vi) Cash at bank and in hand

Cash at bank and 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.

(vii) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will in the transfer of funds to a third party and that the amount due can be measured or estimated reliably. Creditors and provisions are recognised at the net amount due.

(viii) Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions are recognised as expenditure when due.

(ix) Significant accounting estimates and judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. These estimates and assumptions are based on historical experience of future events and are reviewed annually.

Page 15

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS for the year to 31st March 2025

3
Charitable Activities
Project Grants and Income
Theatre Tax Relief
Paul Hamlyn
Esmee Fairbairn
John Ellerman Foundation
Stanley Thomas
Wates Foundation
The 29th May Trust
D'Oyly Carte
Earned and other Income
4 Analysis of Charitable Activity Costs
Production and project costs
Acting and Creative Fees
Venue hire and rehearsal space
Set costumes and props
Lighting and production equipment hire
Marketing, promotion and PR
Travel, accommodation and transport
Other production costs
Support and governance costs
5 Analysis of Support and Governance
Rent and rates
Storage
Telephone and internet
Insurance
IT equipment and support
Equipment expensed
Salaries
Social security costs
Staff pension costs
Staff training, recruitment and welfare
Travel, transport and subsistence
Printing, postage and stationery
Theatre tickets and hospitality
Subscriptions and licences
Sundry costs
Bank charges and other fees
Consultancy
Company development
Fundraising
Independent examination
2
Grants and Donations
Grants for General Running Costs
Arts Council England - NPO funding
Donations		 Restricted Unrestricted
2025 Restricted Unrestricted
2024
-
211,596
211,596
-
211,596
211,596
-
2,344
2,344
-
4,697
4,697
-
213,940
213,940
-
216,293
216,293
Restricted
Unrestricted
Restricted
Unrestricted
Funds
Funds
2025
Funds
Funds
2024
-
135,204
135,204
-
104,005
104,005
-
-
-
5,700
-
5,700
-
45,950
45,950
-
-
-
-
40,000
40,000
-
-
-
17,043
-
17,043
2,834
-
2,834
3,600
-
3,600
-
-
-
4,813
-
4,813
-
80,215
80,215
-
151,362
151,362
23,477
301,369
324,846
10,513
255,367
265,880
Restricted
Unrestricted
2025
Restricted Unrestricted
2024
19,877
93,263
113,140
10,513
172,571
183,084
-
4,927
4,927
-
1,392
1,392
-
26,146
26,146
-
11,017
11,017
-
23,984
23,984
-
8,015
8,015
-
4,399
4,399
-
1,295
1,295
-
47,716
47,716
-
57,473
57,473
-
49,980
49,980
-
18,178
18,178
-
261,231
261,231
-
258,258
258,258
19,877
511,646
531,523
10,513
528,199
538,712
Support
Costs
Governance
Costs
2025
Support
Costs
Governance
Costs
2024
costs
16,120
-
16,120
30,595
-
30,595
-
-
-
3,084
-
3,084
1,379
-
1,379
1,041
-
1,041
3,415
-
3,415
2,891
-
2,891
1,386
-
1,386
3,470
-
3,470
977
-
977
1,876
-
1,876
156,914
-
156,914
148,779
-
148,779
10,862
-
10,862
10,511
-
10,511
2,327
-
2,327
3,109
-
3,109
5,920
-
5,920
657
-
657
1,052
-
1,052
2,109
-
2,109
31
-
31
77
-
77
2,554
-
2,554
2,151
-
2,151
4,102
-
4,102
3,897
-
3,897
2,977
-
2,977
1,559
196
1,755
-
210
210
356
-
356
39,682
-
39,682
28,892
-
28,892
2,023
-
2,023
5,698
-
5,698
7,550
-
7,550
5,560
-
5,560
-
1,750
1,750
-
1,750
1,750
259,271
1,960
261,231
256,312
1,946
258,258

Page 16

ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2025

5 Analysis of Support and Governance costs

Restricted costs
Unrestricted costs
6 Net income for the year after charging:
7 Staff costs and numbers
Independent examiners' fees
- Independent examination
Salaries and wages
Social security costs
Pension costs		 2025
2024
-
-
261,231
258,258
261,231
258,258
2025
2024
1,750
1,750
1,750
1,750
2025
2024
156,914
148,779
10,862
10,511
2,327
3,109
170,103
162,399

There were no employees with emoluments above £60,000 in the year. (2024 - none)

Staff numbers
The average number of employees during the year was made up as follows:
2025 2024
Support 4 4
Trustees' interests

During the year, none of the trustees received any remuneration from the trust and no expenses were paid for or reimbursed to any of them.

Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £2,327 (2024 - £3,109)

8 Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that applies to its charitable objects.

Page 17

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2025

9 Tangible Fixed Assets
As at 31st March 2024
Income
Expenditure
Opening funds
Transfer
Net Book Value
As at 31st March 2025
12 Reconciliation of movements
in members funds
Cost
As at 31st March 2024
As at 31st March 2025
Depreciation
As at 31st March 2024
As at 31st March 2025
10 Debtors
Trade debtors
Other debtors
Prepayments and accrued income
11 Creditors: amounts due within one year
Trade creditors
Deferred revenue
Taxes and other creditors
Accruals		 Furniture,
fittings &
equipment
-
-
515,311
-
(511,646)
-
144,361
20,466
-
-
Unrestricted
Designated General
7,898
7,898
7,898
7,898		 Furniture,
fittings &
equipment
7,898
7,898






2025
16,604
5,871
229,506		 Total
-
-
2024
538,788
482,173

(531,523)
(538,712)
164,827
221,366
-
-

2025
7,898
7,898
7,898
7,898

2024
1,430
5,000
106,525
112,955

2024
20,343
-
(6,393)
6,238
20,188
7,898
7,898
-
-
251,981
2025
48,112
74,170
7,214
32,221
161,717
23,477
(19,877)
-
-
Restricted
148,026
20,466		 3,600 172,092
164,827

The above funds are represented by net current assets

Unrestricted Funds comprise:
Unrestricted Operating Reserves £127,722
Designated Production Investment Fund £20,000
Designated Strategic Development Fund £10,000
General Reserves £10,770

Page 18

ACTORS TOURING COMPANY (LONDON) LIMITED

(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2025

13 Limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2025 there were 9 members.

14 Unrestricted funds

Operating Reserves

This reserve is intended to provide sufficient flexibility to cover temporary shortfalls in incoming resources due to any timing differences that would incur problems for cash flow, adequate working capital to cover core costs, and would allow the charitable company to cope with, and respond to, unforeseen emergencies whilst specific action plans are implemented. It is sufficient for 6-months operational costs and/or the costs associated with an enforced orderly wind up.

This fund exists to allow the company to respond to unforeseen opportunities and costs during the year.

15 Designated Funds

Designated Unrestricted Funds

The trustees have designated funds for production investment and organisational development.

Designated Restricted Funds

Restricted by grant terms from Trusts and Foundations for use on designated projects or core expenditure.

Page 19