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2025-03-31-accounts

PROTEUS THEATRE COMPANY LIMITED Registered Company Number 1742642

ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Charity and Company Number

Registered charity number 291718 Registered company number 1742642

Trustees

Mark Penfold (Chair) Mary Rose Natalie Sweet Terri Reid

Council Representatives

Cllr Gavin James (Hampshire County Council)

Cllr Sam Jeans (Basingstoke and Deane Borough Council)

Funder Observers

Daniel Garnier (Basingstoke and Deane Borough Council)

Kate Offord (Arts Council England)

Chief Executive

Mary Swan

Professional advisors

Bankers

HSBC Bank, 8 London Street, Basingstoke, Hampshire, RG21 7NU

Independent Examiner

Jason Foxwell, FCCA FCIE

Directors and Trustees

The directors of the company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. As set out in the Articles of Association, the Chairman of the board of trustees is elected by the trustees and is required to have at least one year’s board experience. The trustees have the power to appoint any person to be a trustee, in accordance with the recruitment and selection procedures in place. Basingstoke and Deane Borough Council can nominate one councillor as their representative.

The trustees are pleased to submit their report and accounts for the year ended 31 March 2025. The legal and administrative information set out above forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities using FRS 102.

The organisation is a charitable company limited by guarantee, incorporated on 27 July 1983 and registered as a charity on 3 May 1985. The company was established under a Memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association.

1

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities of the charity

To enable all members of society to experience high quality performing art and to promote the advancement of education and understanding, particularly for those who are most disadvantaged, through professional performance work and participatory projects encompassing art forms as diverse as, but not limited to, film, circus, music, literature, photography and new media.

Organisation

The charity was administered by a board of six members during the year, which met quarterly.

Related parties

The Company has a close relationship with Basingstoke and Deane Borough Council who provide funding to enable the company to carry out its charitable objectives.

The company also co-operates with a number of local arts organisations, not-for-profit organisations and forums within Basingstoke and the surrounding area and is a member of the Independent Theatre Council (ITC).

About the charity

Proteus is an organisation full of passion and possibility, acting and reacting in response to its audience, collaborators and communities it is embedded in, creating radical, innovative, varied and excellent theatre-inspired performance art.

Proteus is the only professional producing company of its scale in North Hampshire and runs a wide programme that includes an annual national touring programme of work and co-productions, a wealth of inspiring initiatives for the community that include three youth theatres, activities for adults and children with physical and learning disabilities, specialised workshops for adults with mental health issues and a bespoke programme of workshops and activities that respond to issues pertinent to the County of Hampshire.

The company operates an artist and community development hub known as the Proteus Creation Space, a combined arts centre, central to Basingstoke’s arts and cultural ecology. Audiences and participants can enjoy the programme of events on offer in the building, which hosts artist studios, a performance space, a gallery, a café and meeting spaces. The company has four resident visual and live performance artists based at the Proteus Creation Space and also offers additional artist studio and rehearsal space at Spring Park House, a partially occupied office building located in Basing View, central Basingstoke, which is home to twelve visual artists and a collective of six performance artists.

As an artist-led organisation, under the directorship of Mary Swan, the company challenges conventional thinking, bringing about creative partnerships between professional artists, organisations and individuals, and uses the arts to build relationships with vulnerable segments of society. The company prides itself on its flexibility to react to changing landscapes, dealing with priorities and learn new business models of working.

Proteus’ participatory projects are exclusive to Hampshire and aim to provide isolated or vulnerable individuals with an all-important voice and a creative means of expression, building confidence and offering them a platform for an exchange of ideas. The projects connect people with their communities and encourage joined-up thinking by actively seeking partnerships with other service

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PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

providers. The work is inspiring, challenging and always relevant. Proteus collaborates with artists from different disciplines, such as photography, film, circus, dance, music and the visual arts, in order to make unique performance pieces, not always a traditional piece of theatre. The company makes work for and with diverse communities, from rural villages to socially excluded young people, creating amazing experiences, promoting and advancing education and enriching lives through the power of the performing arts. The work is always outcome-based and fulfils priority needs highlighted by local key stakeholders.

Revenue funding & grants

Proteus is core funded by Basingstoke & Deane Borough Council and has a funding agreement under the Strategic Grant Partnership model running until at least 25/26. The funding level has remained the same.

The year 24/25 was the second year in the three year agreement with the Arts Council National Portfolio Organisations, which will be running until 25/26. The funding levels remain the same as our previous NPO agreement.

With funding from the council and ACE funding decreasing in real terms by remaining at standstill, the company actively seeks support from trusts, foundations, and other sources to support its broad range of work, to help ensure a sustainable future and allow it to fully realise its artistic and charitable vision. Our abilities to apply for funding has continued to be limited by staff capcitiy with no dedicated role for fundraising this work is split across the Artisitic Direcotr and General Manager. The Creation Space, its car park and additional Artist studios at Spring Park House act as an additional income generator, also helping to ensure stability and sustainability. Further income allows the company to build new audiences and focus participatory opportunities on those communities most at risk.

3

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Project funding and grants were received as follows: -

Basingstoke and Deane Core funding £79,790

Arts Council NPO £68,600

Cultural Compact Shared Prosperity funding for Basingstoke Music Initiative £32,308.00

Community Infrastructure Funding: £26,619.58

Activities review and future developments

Proteus continues to build a loyal audience with its touring shows, some of which are co-produced with other Artists and companies, playing in a wide range of venues from larger theatres and arts centres to village halls and community spaces. The audiences are as diverse as the venues we play - from regular theatregoers to those who, due to geographical location, have little or no contact with the arts.

Proteus aims to bring its theatre work to as many people as possible within the realms of its funding and potential for earned income. The company’s touring productions are designed to reach those who are rurally isolated as well as those who might be living in urban areas of deprivation or identified as ‘Priority Places’ by ACE. Touring theatre nationally is a challenge for any small organisation and, due to the current economic climate, it is particularly hard. The company continues to stay true to its roots as a theatre company and is constantly reviewing its touring models.

The programme of participatory projects and workshops that Proteus delivers is designed to engage with marginalised and excluded sectors of society, reaching people affected by current issues or those with protected characteristics. These projects work directly in the community. The company has a very successful model in place for large-scale projects engaging hard-to-reach groups.

The company’s reach is enhanced through the Creation Space, which has allowed the company to engage wider, more diverse audiences and run more projects.

We have continued to see a real recovery from the pandemic, audiences are still notably booking later for events than before the lockdowns of 2020 and beyond, but we have seen a steady rise in audience numbers both at Creation Space and at the venues we tour to. Our Christmas coproduction is the only thing that bucks this trend with the majority of audiences booking in advance in this year

4

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Participatory
sessions:		 Participants: Produced
theatre
shows:		 Produced
theatre
audience:		 Creation
Space
activities:		 Creation
Space
users:		 Total
activities:		 Total
people:
2020/
21		 118 2,342 51 492 46 310 215 3,0491
2021/
22		 168 1759 111 291522 259 1599 539 32,510
2022/
23		 349 3430 91 4646 27 3188 467 11264
2023/
24		 222 2056 126 4103 215 2887 513 9046
2024/
25		 289 2345 131 4214 236 3568 524 10127

Participatory Programme

Pheonix Class

Proteus continues to help support a programme of work for adults affected by physical disability, learning difficulties and those with mental health issues. Proteus aims to fill the gap in provision resulting from local government cutbacks. Participants have engaged with dance, theatre and music artists through a programmed scheme of work. Prior to the national lockdown Proteus had been able to run the majority of this project in the Creation Space weekly, attracting participants from all over North Hampshire. Classes began again in 2023 led by Becky Kitter and there has been a steady membership and attendance since then.

Youth Theatre

Growing the hearts and minds of young people in Basingstoke & North Hampshire 3 weekly groups reaching young people aged 8 – 21 Over 2,500 opportunities for engagement

The Youth Theatres continued to develop and grow through this period, with all groups working towards a presentation at the end of term.

The Proteans

Community adult drama group and workshop company 30 North Hampshire members

In June The Proteans presented ‘Hay Fever’ at the Walled Garden, Down Grange and in October three sold out performances of ‘Round the Twist’ at Creation Space.

5

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Proteus Creation Space

A programme of events, classes, workshops and exhibitions

A dynamic and creative hub in the heart of Basingstoke

Over 10,000 visitors in 24/25 with almost 500 opportunities to experience art

The Creation Space is open to everyone, whether creating, experiencing or enjoying an activity. The building opens Monday to Friday and offers a café/licensed bar, a gallery, artist studios, art and craft rooms, meeting rooms and a performance space which can serve as an aerial/circus centre as well as a performance space. Activities in the year have been focused on the following areas, which form part of the business plan for the Creation Space:

Performance Lab - the development of new British Theatre, in Basingstoke, from national artists. Supporting less-established local theatre makers – Scratch Built Productions have been given space to develop new work and use Proteus to produce touring productions .

Circus & aerial – creating a hub for circus arts in North Hampshire .

Puppetry – the development of a puppet centre in North Hampshire, in collaboration with Scratch Built Productions.

Resident artists – supporting local artists, helping them to grow their businesses.

Cabaret – supporting the development of cabaret in Basingstoke through Late Night Assembly events. Family-based workshops – developing storytelling and work for the very young.

Disability arts – projects in art and theatre for young people and regular art-based activities for adults with additional needs including learning difficulties, mental health issues or physical disabilities.

Immersive theatre – for under 5s.

National campaigns & movements in support of the arts – hosting regional meetings for the What Next movement

Exhibitions – displaying affordable visual art by local and regional artists

Installations – hosting and creating art installations, supporting wider community projects. Art classes and workshops – including ceramics, watercolour, drawing and painting for adults as well as art classes specifically for children.

Wellbeing classes and workshops – including mental health workshops, Tai Chi and several forms of Yoga.

Basingstoke Firsts – a series of programmed performances showcasing brand-new work, by cuttingedge artists from the world of cabaret, comedy and circus, never seen before in the borough.

On-site café

Open Monday to Thursday, the café offering includes a range of quality teas and coffees and cakes all at reasonable prices. We are working with Basingstoke based suppliers Street Bake Shop, MoonRoast Coffee and Longdog Brewery. The fully licensed café transforms in to an intimate bar for evening events, offering a range of beers, wines and selected spirits.

Productions

The Christmas Elf Inspector

In December we co-produced with Scratchbuilt our annual Christmas immersive, promenade experience for under-fives; this year called ‘The Christmas Elf Inspector’ – the show sold out for the majority of the run, and had 42 performances with a total audience of 1,5130 in attendance.

6

PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Audiences were still booking later than in pre-pandemic periods, but overall we have seen a slow recovery of predictable audience behaviours.

Hayfever and Round The Twist

In June and October The Proteans presented two shows with 169 audience members at The Walled Garden for Hayfever and 117 audience member at Creation Space for Round The Twist

Indestructible

Catherine Shaw spent the 90’s shocking the art world with her provocative performance art, she’s always called herself a feminist, but looking back through the lens of #MeToo, she’s questioning how much she enabled the culture she now sees called out. An ambitious Curator approaches her to curate an exhibition of female Artists at a major new gallery; a scandal breaks, unwittingly caught in the centre, she begins to question everything.

When men behave in unacceptable ways, why do we always point to the women close to them and ask why they did nothing?

Can we, and should we, separate the art from the artist? How far do the ripples of consequence spread? And why is it always women who must hold the moral space?

“I’m tired, I’m tired of trying to play the system, I’m tired of trying to fight the system and I’m tired of feeling tired about it.”

‘Indestructible’ takes in uncompromising female Artists from Lee Miller to the Guerrilla Girls via Sinead O’Connor and Taylor Swift to ask; why is it still so difficult for female Artists to succeed? And why are we always the Muse, never the Artist?

‘Indestructible’ was created with a formidable creative team of Designer Sam Pine, Lighting Designer Joe Hornsby, Digital Projection Artist and Animator Christopher Harrison, Dramaturg Saul Jaffe, Dramaturg and Website content Creator Paula Varjack, Producer SJ Watkinson and Musician Paul Wild. The cast were also Proteus stalwarts; Mary Rose, Danny Charles and Paul Huntley-Thomas. Created throughout 2023, we had a scratch preview at Proteus Creation Space on November 30[th] 2023, with more previews at Proteus on 11[th] 12th January 2024 and opened at Clapham Omnibus in London on January 18[th] for a residency until 3[rd] February. The show then toured the Uk across September ’24 and October ’24. The show was well received by critics and audiences alike:

“ Indestructible is an unflinching examination of the nauseatingly complex, and just plain nauseating interplay between gender and power in the contemporary Art world” North West End

“Indestructible makes for a hugely entertaining, important and engaging piece of Theatre. It’s a play audiences will take with them long after the house lights have come up” Reviews Hub

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PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

We created a website for the fictional MOCA North Gallery featured in the show, and invited Basingstoke based female Artists to contribute work to this virtual gallery that audiences could visit for an enhanced experience. We also created a podcast series to accompany the show and subsequent tour exploring the questions raised by the script with artists, actors, curators and directors. The series also examined the challenges of building a career in the theatre industry, and champions creative women from a range of disciplines whose work may not have enjoyed the exposure it deserves.

Knight Time

Our Summer co-production with Scratchbuilt was ‘Knight Time’ which broke even across the week long run of 21 performances. This is a strand of work that has been gathering momentum and audiences over the last three years, and is fast becoming a key event for Basingstoke families - as the Christmas production has become.

The Smallest Festival In The World

In July we ran ‘The Smallest Festival In The World’ for the third time, a chance for audiences of all ages to have the experience of attending a Festival in one hour! A day long event, with music and theatre, we had 3 sessions and was well attended.

Music

The newly formed Basingstoke Cultural Compact was charged with creating projects to be funded via the Government’s Shared Prosperity Fund over three years. Following workshops and discussions amongst Cultural Compact partners, a gap in cultural provision for young people aged between 1425 was identified. We then partnered with fellow Cultural Compact organisation RB Music Promotions to create Basingstoke Music Initiative.

The project is due to run initially over three years and sees Proteus and RB Music management working together to establish opportunities at a grass roots level for musicians and bands to develop in Basingstoke. We are in the second year of this project which is enabling the development of Basingstoke based music artists as performers via the offering of paid performance slots, mentoring and training opportunities, marketing/branding support and free rehearsal space. The ambition will be to engage up to 16 musicians/bands in each year..

Over the life of the project we will link to venues and partners further afield to increase the opportunities for participants beyond Creation Space; these will include small venues who have a reputation for hosting high profile musicians & bands at the start of their careers; South Street Arts in Reading, The Lounge Bar in Alton, The Boiler Room in Guildford & The Wedgewood Rooms in Portsmouth amongst others. The ambition will be to build a regional circuit of grassroots venues that bands and musicians working with us can benefit from in the future.

In the first year of the project we have reached over 400 live music fans across 15 live gigs. Age range of audience has typically been 16 – 60 years with the majority under 30 years. Average

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PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

attendance has steadily risen for each gig from 46 at the start of the project and capacity has been raised from 60 to 80 standing We have had several sell out gigs - confirming the appetite for accessible live music locally. We have supported over 20 local bands & Artists to experience performing a professional paid live gig alongside experienced headliners. The pedigree of our headliners have included bands like Carsick - played Reading Festival this year, and the lead singer of another headline band; Masca tours as a guitarist with Mercury Prize nominated band Idles playing headline gigs at major Festivals including Glastonbury. Our acoustic gigs were kicked off with a set from Mercury Prize nominated Jazz drummer Corrie Dick and his trio. We have started to get repeat customers to gigs – indicating that it’s not just band followers attending. Rehearsal space has been reserved and an online easy to use booking system has been developed enabling bands to book and use Creation Space for rehearsal. Two music videos have been shot at Creation Space following bands appearing on the line up. Mentoring relationships have been established. Connections with the music industry have been established and a presentation on the project presented at the UK Music Summer conference with Sir Chris Bryant, Minister of State for the Creative Industries, in attendance.

Financial Review 2024/25

The charity ended the year with a surplus of £45,765, which has been added to funds brought forward. Total funds at the Balance Sheet date are represented by unrestricted reserves of £69,822 of which £93,417 is bank balances. We have achieved the prior years aim of ensuring at least £50,000 in reserve by the end of this year. This is reviewed annually to ensure, as far as is practical, it provides for at least three months’ operating costs.

Risk Management

The Board carries out an annual review of the charity’s activities and monitors progress against the targets set out in the business plan.

The risk management strategy includes the following:

Statement of Trustees’ Responsibilities

The Trustees are responsible for the preparation of the annual report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year, which show a true and fair view of the state of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to:

9

PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not having a share capital)

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

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

So far as the trustees are aware, there is no relevant information (information needed by the company's independent examiners in connection with preparing their report) of which the company's independent examiners are unaware.

Each trustee has taken all the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

10

PROTEUSTHEATRE COMPANY LIMITED (Company limited by guarantee and not having a Share capital) TRUSTEESANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Auditor The trustees wlsh to extend their thanks to Jason Foxwell, FCCA FCIE for acting as Independent Examiner. These financlal statements have been prepared in accordance with the speclal provisions relating to small companies Within Part 15 of the Companies Act 2W6. Signed on behalf of the trustees Mark Penfold Date.. Z4- Afri I ZO L Trustee li

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR

ENDED 31 MARCH 2025

(Including Income and Expenditure account)

Notes
Income
Donations and legacies
4
PTC Productions Limited
8
Charitable activities
5
Total Income
Expenditure
Fundraising costs
Charitable activities
Total expenditure
6
Net (expenditure)/income for the year
3
Fund balances at 1 April 2024
Fund balances at 31 March 2025		 Unrestricted
funds
£
149,652
20,448
174,104		 Restricted
funds
£
26,620
26,620
-
26,620
26,620		 2025
Total
£
176,272
20,448
174,104		 2024
Total
£
168,940
54,119
132,344
344,204 370,824 355,403
-
298,439		 -
325,059		 -
341,097
298,439 325,059 341,097
45,765
24,057		 45,765
24,057		 14,306
9,751
69,822 69,822 24,057

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The restricted fund represents fixed assets.

12

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

PRIOR YEAR CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

(Including Income and Expenditure account)

Notes
Income
Donations and legacies
4
PTC Productions Limited
8
Charitable activities
5
CJRS Income (furlough)
Total Income
Expenditure
Fundraising costs
Charitable activities
Total expenditure
6
Net (expenditure)/income for the year
3
Fund balances at 1 April 2023
Fund balances at 31 March 2024		 Unrestricted
funds
£
163,972
54,119
132,344
350,435
-
334,439
334,439
15,997

8,060
24,057		 Restricted
funds
£
4,967
4,967
-
6,658
6,658
(1,691)

1,691
0		 2024
Total
£
168,940
54,119
132,344
355,403
-
341,097
341,097
14,306

9,751
24,057		 2023
Total
£
171,406
20,112
109,130
300,648
-
349,270
349,270
(48,622)
58,373
9,751

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The restricted fund represents fixed assets.

13

PROTEUS THEATRE COMPANY LIMITED (Company limited by guarantee and not havin8 a share capital) CONSOLIDATED BALANCE SHEEf AS AT 31 MARCH 2025 Group {Totsl chaiity including rc Productions Ltd) 2025 Charfty (Totsl ex¢ludin8 PTC Productions Ltd) Notes Fixed assets Tangible fixed assets Investments 19,975 11,951 10,168 509 io 19,975 11,951 10,169 510 Current asgets Debtors Cash at bank and in harKI li 73.793 93,417 167,210 64.767 13,887 78.654 100.731 94.311 195,041 12,065 13,714 25.779 Credftors: amounts falling due within one year 1117.3631 166,5481 {85,345) 151,8551 Net current assets 49,847 12,105 109,696 126.076) Net a55ets 69,821 24,057 119.865 (25.5661 Funds Unrestricted funds Restricted fund5 14 14 69,821 24.057 119,865 (25,5661 Totsl fvnds 69,821 24,057 119.865 125.kn51 The accounts have been prepared In accordance with the provisions applicable to companles subject to the small companies, regime in Part 15 of the Companie5 Act 2iJ)6. Approved by the Trustees on and signed on Its behalf by Date 2q./￿￿1 M Penfold Trustee 14

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

a) Accounting convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity meets the definition of the public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The accounts have been prepared on the going concern basis.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Voluntary income including grants and donations that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:

Investment income is recognised on a receivable basis.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when:

c)

Expenditure

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.

15

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 Accounting policies (continued)

d) Value Added Tax

As the majority of the charity's activities are classified as exempt or non-business activities for the purposes of value added tax, Proteus Theatre Company Limited is unable to reclaim the value added tax which it suffers on its purchases. Expenditure in these financial statements is therefore shown inclusive of value added tax, except for the transactions consolidated from its subsidiary, Proteus Theatre Company Productions Limited, which is registered for VAT.

e)

Tangible fixed assets and depreciation

Individual fixed assets costing £500 or more are capitalised at cost. Depreciation has been provided at the following rates in order to write down the cost or valuation, less estimated residual value, of all tangible fixed assets over their expected useful lives.

Plant and equipment 25% straight line Motor vehicles 33% reducing balance Website 33% straight line

f) Operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities as incurred over the period in which the cost is incurred.

Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

16

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 Accounting policies (continued)

Taxation

No provision has been made for corporation tax or deferred tax as the company is a registered charity and is exempt, as agreed with HM Revenue & Customs. Its subsidiary, Proteus Theatre Company Productions Ltd, is subject to corporation tax and to that extent a provision will be recognised as appropriate.

2

Legal status

The charity is a company limited by guarantee and has no share capital. The charitable company was incorporated on 27 July 1983 in England and Wales and was registered on 3 May 1985 with the Charity Commission in England and Wales. The charity's registered number with the Charity Commission is 291718. The charity is a public benefit entity.

The registered office of the charitable company is Proteus Creation Space, Council Road, Basingstoke, Hampshire, RG21 3DH.

Net income for the year

3 Net income for the year
2025 2024
Net income for the year is stated after charging: £ £
Depreciation
Audit / Independent examination fee
 5,109
1,045		 1,008
995
4 Donations and Legacies
Local authority grant 2025 2024
- Basingstoke & Deane Borough Council 79,790 79,790
- Arts Council England National Lottery
- Community Infrastructure		 69,862 69,862
4,967
- Cultural Recovery Fund 6,500
- Other donations 7,820
- Other funding (Building works) 26,620
176,272 168,940
2025 2024
**5 ** Income from charitable activities
£ £
Workshop & show fees 174,104 132,344

17

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

6 Total expenditure
Direct costs of charitable activities:
Wages and salaries (see note 7)
Production costs
Workshops and events
PTC Productions Limited (see note 7 and 8)
TOTAL DIRECT COSTS
Allocation of support costs:
Freelance costs (see note 7)
Premises costs
Marketing and public relations
Repairs and computer consumables
Printing, postage and stationery
Insurance
Accommodation, subsistence and travel
Miscellaneous expenses
Bad debts
Subscriptions and memberships
Board expenses
Accountancy and bookkeeping
Bank charges
Depreciation
TOTAL SUPPORT COSTS		 Theatre
Education Fundraising
The
Creation
2025
2024
productions
Projects
& publicity
Space
Total
Total
£
£
£
£
£
£
121,952
121,952
119,794
40,197
6,579
4,674
51,449
41,720
30,493
30,493
86,705
45,288
45,288
40,546
237,929
6,579
0
4,674
249,182
288,766
0
0
1,418
32,027
32,027
10,530
13,491
13,491
15,827
970
970
153
311
311
349
2,421
2,421
4,200
434
434
1,680
839
839
240
1,942
1,942
0
638
638
785
85
85
30
16,680
16,680
15,204
2,567
2,567
3,607
3,473
3,473
190
43,851
32,027
75,877
54,211
281,779
6,579
0
36,700
325,059
341,097

18

8

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

7
Employed staff costs and numbers
2025
£
Staff costs were as follows:
Wages and salaries
114,940
Social security costs
4,600
Pension costs
2,412
Freelance fees

121,952		 2024
£
113,060
4,363
2,371
9,151
128,945

Payroll costs of £nil (2023: £nil) and freelance fees of £nil (2023: £nil) are included within PTC Productions Limited direct costs.

The Trustees received no remuneration or reimbursed expenses from the company during this or the prior year. No employees had emoluments in excess of £60,000 during this or the prior year.

The average number of employees during the year was as follows:

Management
Administration
Freelance		 2025
3
2
5		 2024
3
2
2
7

Net income from trading activities of subsidiary

The charity owns 100% of the issued share capital of Proteus Theatre Company Productions Limited, a company incorporated in England and Wales. The company runs production shows for Proteus Theatre Company Limited. The company donates any profits to the parent charity.

Proteus Theatre Company Productions Limited prepares its accounts each year to 31 March for filing with the Registrar of Companies. Its company registration number is 7587750, and its registered office address is Proteus Creation Space, Council Road, Basingstoke, Hampshire, RG21 3DH.

The results for the year ended 31 March 2025 are summarised as follows:
Turnover
Rent from parent charity
Creation Space grant receipts
Production grant receipts
Cost of sales
Gross profit
Administration expenses
Taxation
Net loss		 2025
£
2024
£
14,448
14,448
6,000
6,000
(6,550)
-
-
(1,101)
13,898
19,347
(38,738)
(39,446)
33,671
(24,840) 13,573

As at 31 March 2025 the subsidiary had net liabilities of £55,910 (2024: £190,037.29).

19

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

9
Tangible fixed assets
Group
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1
April 2024
Charge for year
31 March 2025
Net book value
31 March 2025
At 1 April 2024
Charity
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
Eliminated on disposals
At 31 March 2025
Net book value
At 31 March 2025
At 1 April 2024		 Leasehold
improvements
£
23,598
-		 Leasehold
improvements
£
23,598
-		 Website &
Plant &
equipment
Motor
vehicles
Box Office
system
Group
Total
£
£
£
£
29,618
22,158
27,281
102,655
13,132
13,132

-
-
23,598 42,750
22,158
27,281
115,788
12,155
1,636		 29,109
22,158
27,281
90,704
3,473
5,109
13,791 32,582
22,158
27,281
95,813
9,807 10,168
-
19,975
11,443 509
11,951
Plant &
Motor
Charity
equipment
vehicles
Website
Total
£
£
£
£
18,720
13,132
-
19,658
-
-
7,000
-
-
45,378
13,132
-
31,852
19,658
7,000
58,510
18,211
19,658
7,000
44,489
3,473
-
-
3,473
-
-
-
-
21,684
19,658
7,000
48,342
10,168
-
-
10,168
509
-
-
509

All fixed assets are used for the furtherance of the charity's objectives.

20

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

10 Fixed asset investments Group Group Charity
2025 2024 2025 2024
£ £ £ £
Investment in subsidiary undertaking - - 1 1
11 Debtors Group Charity
2025 2024 2025 2024
£ £ £ £
Trade debtors 17,964 18,686 15,487 10,748
Other taxation 7,063 39,293 - -
Prepayments and accrued income 14,975 6,787 4,011 1,317
Other debtors 33,791 81,233
73,793 64,767 100,731 12,065
12 Creditors: amounts falling due within one year Group Charity
2025 2024 2025 2024
£ £ £ £
Trade creditors 52,855 44,048 24,866 29,437
Other taxation and social security 1,894 11,839 1,894 11,839
Accruals 62,613 9,864 58,585 9,782
Other creditors 797 797
117,363 66,548 85,345 51,855
13 Analysis of net assets between funds Unrestricted Restricted Total
for Group funds funds funds
£ £ £
Analysis of net assets between funds at 31 March 2025
Fixed assets 19,975 19,975
Current assets 248,204 - 248,204
Creditors: amounts falling due within one year (198,357) (198,357)
69,822 69,822
Analysis of net assets between funds at 31 March 2024
Fixed assets 11,951 11,951
Current assets 78,684 - 78,684
Creditors: amounts falling due within one year (66,548) - (66,548)
24,087 24,087

21

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

13 (cont.) Analysis of net assets between funds Unrestricted Restricted Total
for Charity funds funds funds
£ £ £
Analysis of net assets between funds at 31 March 2025
Fixed assets 10,169 - 10,169
Current assets 195,041 - 195,041
Creditors: amounts falling due within one year (85,345) - (85,345)
119,865 119,865
Analysis of net assets between funds at 31 March 2024
Fixed assets 510 - 510
Current assets 25,779 - 25,779
Creditors: amounts falling due within one year (51,855) - (51,855)
(25,566) (25,566)
14 Funds At 1 April Incoming Outgoing Fund At 31 March
2024 resources resources transfer 2025
£ £ £ £ £
Restricted funds
-
Building Maintenance 26,620 (26,620)
Unrestricted funds
General (Charity) 215,047 323,756 (253,151) 285,652
General (Productions) (190,990) 20,448 (45,288) (215,830)
Designated funds General
consolidated funds 24,057 370,824 (325,059) 69,821
Total consolidated funds 24,057 370,824 (325,059) 69,821

Related party transactions

There were no transactions with related parties during this year or the prior year.

22

PROTEUS THEATRE COMPANY LIMITED

(Company limited by guarantee and not having a share capital)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

15 Parent charity

Below are summarised results for Proteus Theatre Company Limited, excluding the subsidiary company:

Income
Donations and legacies
Charitable activities
CJRS income
Total income
Expenditure
Fundraising costs
Transfer Creation Space grant to subsidiary
Rent payable
Charitable activities
Provision against intercompany debtor
Total expenditure
Net income for the year		 2025
£
176,272
174,104
350,376
-
6,000
273,771
81,114
360,884
(10.509)		 2024
£
168,940
132,344
301,284
-
6,000
294,551
62,745		 301,284
363,295
(62,012)

23

PROTEUS THEATRE COMPANY LIMITED

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF PROTEUS THEATRE COMPANY LIMITED

I report to the trustees on the accounts of the charitable company for the year ended 31 March 2025.

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 statement

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 a member of both the ACCA and ACIE, which are 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 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.

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.

Signed: Name: Jason Foxwell FCCA FCIE Relevant professional body: Chartered Certified Accountant Address: 12 Hillbourne Road, Poole, BH17 7JB Date: 29 April 2026

24