**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. 

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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** 

## **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 

2 



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



- 1) The cancellation of Katie Smith’s classes and the March 2020 shutdown of the venue detailed above, led to a reduction of Creation Space users. 

- 2) This number is in part due to large scale outdoor performances (Protopia, Walk of the Dandelion) which had combined audiences of 23,000. The remaining 6,152 audience members are a mix between Proteus Creation Space and touring shows. 

## **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. 

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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** 

## **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_ 

7 



**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: 

- An annual review of the risks faced 

- The establishment of systems and procedures to mitigate those risks identified 

- The implementation of procedures designed to minimise any potential impact on the charity should any of the risks be realised 

- Due to the global pandemic, additional risk management was undertaken 

## **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: 

- select suitable accounting policies and then apply them consistently 

- make judgements and estimates that are reasonable and prudent 

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** 

- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operational existence. 

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**<br>**Income**<br>Donations and legacies<br>4<br>PTC Productions Limited<br>8<br>Charitable activities<br>5<br>**Total Income**<br>**Expenditure**<br>Fundraising costs<br>Charitable activities<br>**Total expenditure**<br>6<br>**Net (expenditure)/income for the year**<br>3<br>Fund balances at 1 April 2024<br>**Fund balances at 31 March 2025**|**Unrestricted**<br>**funds**<br>**£**<br>149,652<br>20,448<br>174,104|**Restricted**<br>**funds**<br>**£**<br>26,620<br>26,620<br>-<br>26,620<br>26,620|**2025**<br>**Total**<br>**£**<br>176,272<br>20,448<br>174,104|**2024**<br>**Total**<br>**£**<br>168,940<br>54,119<br>132,344|
|---|---|---|---|---|
||344,204||370,824|355,403|
||-<br>298,439||-<br>325,059|-<br>341,097|
||298,439||325,059|341,097|
||45,765<br>24,057||45,765<br>24,057|14,306<br>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**<br>**Income**<br>Donations and legacies<br>4<br>PTC Productions Limited<br>8<br>Charitable activities<br>5<br>CJRS Income (furlough)<br>**Total Income**<br>**Expenditure**<br>Fundraising costs<br>Charitable activities<br>**Total expenditure**<br>6<br>**Net (expenditure)/income for the year**<br>3<br>Fund balances at 1 April 2023<br>**Fund balances at 31 March 2024**|**Unrestricted**<br>**funds**<br>**£ **<br>163,972<br>54,119 <br>132,344 <br>350,435 <br>- <br>334,439 <br>334,439 <br>15,997<br> <br>8,060 <br>24,057|**Restricted**<br>**funds**<br>**£ **<br>4,967 <br>4,967 <br>- <br>6,658<br>6,658 <br>(1,691)<br> <br>1,691<br>0|**2024**<br>**Total**<br>**£ **<br>168,940 <br>54,119 <br>132,344 <br>355,403 <br>- <br>341,097 <br>341,097 <br>14,306<br> <br>9,751 <br>24,057|**2023**<br>**Total**<br>**£**<br>171,406<br>20,112<br>109,130|
|---|---|---|---|---|
|||||300,648|
|||||-<br>349,270|
|||||349,270|
|||||(48,622)<br>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. 

- b) **Income** 

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: 

- The donor specifies that the grant or donation must only be used in future accounting periods; or 

- The donor has imposed conditions which must be met before the charity has unconditional entitlement. 

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: 

- Admission fees or performance related grants are received in advance of the performances or event to which they relate. 

## 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)** 

- Costs of generating funds are those costs incurred in attracting voluntary income. 

- - Charitable activities include expenditure associated with the staging of productions and educational programmes and include both the direct costs and support costs relating to these activities. 

- Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. 

- Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating staff costs by the time spent and other costs by their usage. 

## 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. 

- g) 

## **Fund accounting** 

Funds held by the charity are either: 

- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. 

- Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. 

- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

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** 

|**3**|**Net income for the year**|||
|---|---|---|---|
|||**2025**|**2024**|
||Net income for the year is stated after charging:|**£**|**£**|
||Depreciation|||
||Audit / Independent examination fee<br>|5,109<br>1,045|1,008<br>995|
|**4**|**Donations and Legacies**|||
||_Local authority grant_|**2025**|**2024**|
||- Basingstoke & Deane Borough Council|79,790|79,790|
||- Arts Council England National Lottery<br>- Community Infrastructure|69,862|69,862<br>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|



- **4** 

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**<br>Direct costs of charitable activities:<br>Wages and salaries (see note 7)<br>Production costs<br>Workshops and events<br>PTC Productions Limited (see note 7 and 8)<br>TOTAL DIRECT COSTS<br>Allocation of support costs:<br>Freelance costs (see note 7)<br>Premises costs<br>Marketing and public relations<br>Repairs and computer consumables<br>Printing, postage and stationery<br>Insurance<br>Accommodation, subsistence and travel<br>Miscellaneous expenses<br>Bad debts<br>Subscriptions and memberships<br>Board expenses<br>Accountancy and bookkeeping<br>Bank charges<br>Depreciation<br>TOTAL SUPPORT COSTS|**Theatre**<br>**Education Fundraising**<br>**The**<br>**Creation**<br>**2025**<br>**2024**<br>**productions**<br>**Projects**<br>**& publicity**<br>**Space**<br>**Total**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>121,952<br>121,952<br>119,794<br>40,197<br>6,579<br>4,674<br>51,449<br>41,720<br>30,493<br>30,493<br>86,705<br>45,288<br>45,288<br>40,546|
|---|---|
||237,929<br>6,579<br>0<br>4,674<br>249,182<br>288,766|
||0<br>0<br>1,418<br>32,027<br>32,027<br>10,530<br>13,491<br>13,491<br>15,827<br>970<br>970<br>153<br>311<br>311<br>349<br>2,421<br>2,421<br>4,200<br>434<br>434<br>1,680<br>839<br>839<br>240<br>1,942<br>1,942<br>0<br>638<br>638<br>785<br>85<br>85<br>30<br>16,680<br>16,680<br>15,204<br>2,567<br>2,567<br>3,607<br>3,473<br>3,473<br>190|
||43,851<br>32,027<br>75,877<br>54,211|
|||
||281,779<br>6,579<br>0<br>36,700<br>325,059<br>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**<br>**Employed staff costs and numbers**<br>**2025**<br>**£**<br>Staff costs were as follows:<br>Wages and salaries<br>114,940<br>Social security costs<br>4,600<br>Pension costs<br>2,412<br>Freelance fees<br> <br>121,952|**2024**<br>**£**<br>113,060<br>4,363<br>2,371<br>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<br>Administration<br>Freelance|**2025**<br>3<br>2<br>5|**2024**<br>3<br>2<br>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:<br>Turnover<br>Rent from parent charity<br>Creation Space grant receipts<br>Production grant receipts<br>Cost of sales<br>Gross profit<br>Administration expenses<br>Taxation<br>Net loss|**2025**<br>**£**<br>**2024**<br>**£**<br>14,448<br>14,448<br>6,000<br>6,000<br>(6,550)<br>-<br>-<br>(1,101)|
|---|---|
||13,898<br>19,347<br>(38,738)<br>(39,446)<br>  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**<br>**Tangible fixed assets**<br>**Group**<br>**Cost**<br>At 1 April 2024<br>Additions<br>At 31 March 2025<br>**Depreciation**<br>At 1<br>April 2024<br>Charge for year<br>31 March 2025<br>**Net boo**k value<br>31 March 2025<br>At 1 April 2024<br>**Charity**<br>**Cost**<br>At 1 April 2024<br>Additions<br>Disposals<br>At 31 March 2025<br>**Depreciation**<br>At 1 April 2024<br>Charge for year<br>Eliminated on disposals<br>At 31 March 2025<br>Net book value<br>At 31 March 2025<br>At 1 April 2024|**Leasehold**<br>**improvements**<br>**£**<br>23,598<br>-|**Leasehold**<br>**improvements**<br>**£**<br>23,598<br>-|**Website &**<br>**Plant &**<br>**equipment**<br>**Motor**<br>**vehicles**<br>**Box Office**<br>**system**<br>**Group**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>29,618<br>22,158<br>27,281<br>102,655<br>13,132<br>13,132<br> <br>-<br>-|
|---|---|---|---|
||23,598||42,750<br>22,158<br>27,281<br>115,788|
||12,155<br>1,636||29,109<br>22,158<br>27,281<br>90,704<br>3,473<br>5,109|
||13,791||32,582<br>22,158<br>27,281<br>95,813|
||9,807||10,168<br>-<br>19,975|
||11,443||509<br>11,951|
||||**Plant &**<br>**Motor**<br>**Charity**<br>**equipment**<br>**vehicles**<br>**Website**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>18,720<br>13,132<br>-<br>19,658<br>-<br>-<br>7,000<br>-<br>-<br>45,378<br>13,132<br>-|
||||31,852<br>19,658<br>7,000<br>58,510|
||||18,211<br>19,658<br>7,000<br>44,489<br>3,473<br>-<br>-<br>3,473<br>-<br>-<br>-<br>-|
||||21,684<br>19,658<br>7,000<br>48,342|
||||10,168<br>-<br>-<br>10,168|
||||509<br>-<br>-<br>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<br>Donations and legacies<br>Charitable activities<br>CJRS income<br>**Total income**<br>Expenditure<br>Fundraising costs<br>Transfer Creation Space grant to subsidiary<br>Rent payable<br>Charitable activities<br>Provision against intercompany debtor<br>**Total expenditure**<br>**Net income for the year**|**2025**<br>**£**<br>176,272<br>174,104<br>350,376<br>-<br>6,000<br>273,771<br>81,114<br>360,884<br>(10.509)||**2024**<br>**£**<br>168,940<br>132,344|
|---|---|---|---|
|||301,284<br>-<br>6,000<br>294,551<br>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