Charity Registration No. SC029808 IS¢otland) Company Registration No. SC203436 (Scotlandl CATHERINE WHEELS THEATRE COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CATHERINE WHEELS THEATRE COMPANY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Tru$tse$ Tanatsei Gambura Emma Robertson-wemer Peter Sparkes Helen Chomczuk Secretary Gillian Robertson Charity numbeT Iscodandl SC029808 Company number SC203436 Registered offic• 22b High Street East Linton East Lothian EH40 3AB Independent examiner M¢Fadden A5soryates Limited Chartered Accountsnts Edinburgh EH12BB Bankern Royal Bank of Sethland 32 Court Street Haddington EH41 3NS
CATHERINE WHEELS THEATRE COMPANY LIMITED CONTENTS Page Trustees, report Independent examinerfs report statement of financAal activities Balance sheet 10 Notes to the finanaal statements
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report and finanaal statements for the year ended 31 March 2025. The finanaal ststemenls have been prepared in a¢u)rdance with the a¢(x)unling poliaes set out in note 1 to the financial stslemenls and cornply wrfLh the charity's memorandum and articles of association, the C¢mpaniés Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practi applirnble lo ¢h8ri1ies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubSic of Ireland IFRS 1021 (Effective 1 January 20151. Objectives and activitiès As slated in the Memorandum ofAssocAation120001 Catherine Vvheels Theatre Company's objecb.ves are.. 'The education of the public in the arts, induding the arts of the drama, ballet, music, singing, lrterature. puppetry, sculpture and painting, In furtherance of the stated objects, the MpanY shall-. 'Carry on in Scotland and alShoTo all or any of th& business of a children's theatre company, 'Present, promote, manage and produce such plays and all other arts fomis as conducive to the prornolion, maintenance and adVanMerIt of education or the encouragernent of the arts, Intended impact Catherine Vvheels Theatre Company's intended impact is to produce theatre that is a valued part of the lives, development and education of all children and young people in Scotland. Catherine Wheels creates theatre that engages, inspires and stimulates its audien. By presenting new worfds, ideas and experiences the company aims to support the development ol young people bcth intellectually and ernotionally. Working from an officé at The Bruntr)n in Mu55elburgh, which ig generous provided in kind by East Lothian Council, Cherine Vvheels tours high qualty theatre lo theatres. schools and ctsmmunity venues throLsghout Scotland. The company producès a variety of produ¢tions, tsrgètèd at sp8afic aga ranges and tours nationally and intemalionally. Aims The cornpany knows that to remain relevant, world-cla55 producers of theatre ftsr young audiences it is essential to leam. evolve and collaborate. While committed to maintaining lis current programme of national & intemalional touring Catherine Vvheels is an ambitious organisatM?n determined to seek new art15tic Challenges, forge new creative partnerships and str¢ve to ensure as many children as possible are able to acces5 high-qualty theatre. The cornpany recognises the challenges of the COVID pandemic, the need for greater diversity in our work and the need to make positive steps with regards to our carbon output. UR COREAIMS to create world class theatre for our work to bè accessibl& to diverse audionces to be a leading forGe centsal to a robu$t sector to be globally connected internationalty successful
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and parfomiance Catherine Wheels Theatre Company werè dèlighted lo creatè and tour new work a6Yoss Scotland bringing new voices to our audience. We are also delighted to continue to deepen our relationship in our home of East Lothian. Productions Lightning Ridge Meeting our 8ims." wortd-class the31,. to be a leading ft>rc& cent1 to a robust sector accessible lo di158 audiences. Critles Awards ft)r Theatrn In Scotland2024 (CA TS) POBB'I DINGI,., kEW4P.D Image by Murdo Macleod LRI I li % A.AD8 I:RITIL5 AWART It)R T14[E IN, IlTL4ND . CP0 We weie delighted that Lightning Ridge won awards for Best Production ft)r Children and Young People and Outstanding Perforrnance. If s a first for an Oulslanding Performance award to be made for a show for younger audiences. A great and proud day and ¢x)ngratulations lo Gill and the team.
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Th• Last Forèeast Meeting our aims.. wortd-class theat,. to be a leading fOe Cent1 to a robust sector accessible to diveTre audiences. rlP1,rifi rifi rif1 rqr. r1".plf1 p1fi r1ffj rlfi trqfry Iri rifi. rif1 rlr. ',il, .1r+'trryr. Ir1 p1r4 Image by Sally Jubb The Last ForeGast ran at the Edinburgh Festival Fringe as part of the Made in Scotland Programme from 3 - 18 Agust at Dancebase. The perforn)ance was presented 14 times to an audience of 515. We were delighted with the response, from audience and critics alike, and the new cast, with addèd timè for Bridlè, allowèd thè production to mature and develop. Vve are currently in discussions to look at the possibilth.es for future touring and The Last Forecast is happily part of our repertoire moving forward.
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 White- Slngaporg M&gling our aims." wortckGlass thèat,. to be 8 18&ding force centr81 to a rohust sector accessible to div& audiences. The collaboration with The Ground Co Limitèd in Sing8pc>re was a huge success. Gill Robertson, Artistic Directtsr, along with Techni1 Manager Yvonne Buskie travelled to Singapore in July to Teheatse a double Singaporean - one male and one female - cast of White. The company is The Ground Go Limited, who run the children's spa Thè Artground in Singapore. The show opened in late July al The Artground in Singapore and ran through August. This is the kind of intematlonal project we can pursue in the luture, as rf( has a much smaller enwronmental impact and alk)ws us to wntinue lo focus on work in East Lothian and S¢))tland. Funding Update Muth of 2024r25 was consumed wth our bid for MsJlli-Ye8r Funding from Creatsve Scodand. Like every other funded organisalion in Sliand, thi5 did have an impact on thè amount of wotk we weie able to produce through the year, but we were happy to meet our funding requirements in tems of output and also work inlemalionally. WÈ were delighted to receiv8 the news on 301h January that the company had been successful in ils Multi-year Funding application to Creive Scotland. Our bid was for 309,000 a year, and we wère awaidgd £294,416 a year for three years. This is a 37.74% rise on our prevTOUS fvnding level. We are in the fortunate position of rnowng ahead wlth the progiamme outlined in our business plan. However, as we are collaborating with several organisations that received dtfferent levels of awards, we will now discuss whether some of our plans 12n go ahéad as proposed. The award ¢xees a stable finanaal base to dellver on our three-year plan.
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Company Move Al the end of Septemb8r 2024 Catherine Vvheels cornpleted it's move from Ihe Rehearsal & Storage Studio al Inveresk Industrial Estatè. This move allowed for an audit of all our sèts, props, costumès and equipment with around 75°A baing r8cyded through a variety of sourTrs, inrjuding East Lothian cx)mmunrty groups. The company now has a new stOTa9e space in East Linton with an overall ongoing saving of around £20,000 a year on OUT previous costs. In tems of core staff, the team work trom home wrfÈh regular in-person and tsnline meetings. Artlst & Se¢tor Development Meeting ouraims.. leading fOe centtsl to a n)bust $8¢tor Catherine Vvheels Thèatre Cornpany devote5 much of ts year as a revenue fvndad company providing hglp and support to a diverse range of artists and organisations and continues to represènt the Scottish se¢tor home and abroad. Thls year we continued to support Bridle Gane to tske The Last Forecast to The Edinburgh Fringe Festival and ¢ontinued development with Vee Smith and Sadiq Ali lo develop a new circus-based work. We continue to support and produce Shona Reppe and Alice Mary Cooper. Staff continue to SLJPPOrt indeFEndenl artists and freelanTS in the sector, through fomial mentoring and infomal advi, plus subsidised or free use of company rehearsal space and equipment. Louise Gilmour Wills and Lauren Desjardins a on the board of ASSITEJ UK Tony Reekiè is on the ¢ommrttee CYAA {Children's and Youth Arts Advo¢acyl and Catherine Wheels are member Catherine Wheels Theatre Company are part of a Young Audiences Scotjand group wothng for the development ofthe pèrfoming 8rts in Scotland Tony Reèkie sits on theAdvisory BoaTd of SparkArts for Children, Lèicèstèr Catherine Vlheels are a partner in the Meitheal Programme. an affjst development Programme run by The*te Branar, Galway, Ireland Financial rgviow Full details of the income generated and expenditure incurred are provided within the Stalernent of Financial Activities on page 10, together with thè Notes Ihereon. This shows a decrease in unrestricted funds of £27,664. Thè nolos to the financial statements (Notes 4 & 7) dis¢lo8e a shortfall in project funding for charitable actiwties of £266,037 for Theatre & Education Productions which illustrates our continued reliance on the core fvnding and other grants shown in Not6 3. This redu¢tion in gfant funding, combined with essential investment in productions for the future and maintaining Core (x)sts ha5 resulted in the deficit this year. While the charity has had ieserves in place to cope with such a deficf(, long temi this would not be sustainable, thereforè the rèsutt of the irnpending Creativè Scoliand funding application is important in the context of the eharity's ability lo wntinue its good work as in pievious yea. The management and Trusteès have detsiled scenario plans for the upcoming funding de¢ision to enable the charity to continue as a going concem. The management and Trustees continue to make concerted efforts to make OUT charitable a¢fjvthes mtsve towards breaking even. The Balancè Sheet al 31 March 2025 shows an decrease in net assets lo £156219. Reserves Policy The Trustees aim to maintain a Cumulative surplus on unrestricted reserves which equates lo three months of annual core costs, plus a fund of £20.000 in case of redundancies and a Contingency of 10OA. In assessing the quantum of this ieserve. consideration was given to the effect that short-tèm) adverse economic or trading ¢ondilion5 could have on the charity and its ability to Sustain ils operation5 until matters improved. Therefore, according to current year core costs, the reserves are set at £108,523 for 2024251202&24- £108,523).
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment Policy The cash reserves of the organTsation are held Tn interest bearing accounts. The Trusteas kaep this arrangement under regular rewew and pay particular attentlon to the requiiernent to ensure that stfficienl liquidty is maintained lo enable the organisalion to manage ils commitments. The trustees has assessed the major risk5 to which the charty is exposed, and are satisfied that systems are in place lo Mgate exposure to the rnajor risks. PLANS FOR THE COMING YEAR Our plans continue lo èmbrace a focus on engagement with East Lolhian, a need to play our role in enlronmenta1 sustainabilty and a need lo diversify the practitioners we work with, to repsent and reflect our communty and audience.. The Unllkely Friendship of Feathèr Boy and Tentacle Girl The culmination of our work with Vee Smith and Sadiq Ali, The Unlikety Friendship of Fealhgr Boy and Tentsda Girl will run at thè 2025 Edinburgh Fringe Festival Met Tidtrn Imth Timel Our collaboration with Teater Refièksion, Denmark, will begin its lrfe in April 2025 wth a Tun Sn Denmark and then lour to Scotland at dales to be confimied. Soundshapes Soundshapes, a production for children with multiple learning disabilities, will run at Lyra, Artspace in Craigmillar in the first week of De¢èmber 2025. Home i¥ East Lothian Home is East Lothian is the name of our prograrnrne. which shows our commitment to the communrty we live in and the artists we want lo support. Make Space is a long-running progTamme that allows artists lo davelop ideas with the support of Catherine INheels. Make Space always seeks lo ensure proper representstion and include individuals who have been historicalty underrèpresented. In 2025 our Make Space will have a fo¢us on projeds made for, or with, young peoplè in schools in East Ltslhian and will take place in thrèa Primary Schools and one Secondary S¢hool. Playground: Collaboration with Playwrrghts Studio, Scotland In November, in collaboration with Playwrights Studio. Scotland we F4an to run the first part of a programme exploring writing for young audiences. Llghtning Ridgè Reheaisals for a school's production will begin in September in readinèss for a Theatre in Schools Scodand (riSS} and Small venues tour early 2026.
CATHERINE WHEELS THEATRE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2025 Structure. governance and management Thè tharity is a wmpany limited by guarantee ISC2034361 and a registered chaity ISC0298081. The directors of the charilable company (the charity} are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Board of Trustees Meets quarterly and is responsible for setb'ng the policies that direct Catherine Wheels actiwties and to keep up to date wrth changes in legislatura. All Trustaas are axpactgd lo attend one tralning day per year. The Trustèes who setvgd during the yeai an¢J slnce the year end wtr as follows: Tanatsei Gambura Donna Laing Emma Robertson-werner Peter Sparkes Helen Chomczuk (Resigned 6 June 2025} Trustees are currently recruited for their understanding and support of the work of the company and specialist skills and thowledge. Currentty the Trustees have skills in the areas of fundraising. public funding for arts organisations, education, financial management. m8rkeb.ng and audieneè dèvelopment. The company runs a devèlopment day for the Trustees each year lo address training and skills development and to add$$ Changes in rolevant legislative and regulatory changes as well as changes within the sector. The Trustees are committed to developing a board of Trustees which refie¢ts the diverse soclety In whlch the ¢harity operates. Oryanisational Management The Board of Trustees meets quartèrly and is rasponsiblè for setting th6 poliaes that direct Catherine Wheels activvties and to keep up to dale wrth d)anges in lÈgislalurè. Catherine Wheels Theatre Company has a team of experien¢ed staff. Gill Robertson is the founder and artistic director of Catherine VVh8els Theatre Company and makes decisions on the artistic programme and directitin of the charity. Tony Reekie manages the company's overall strategy, the people who work for the company and has responsibilty for the financial running and wellbeing of the company. Louise Gilmour-WIL% is the producer for all the MpanY'S productions and projeds. Lauren Desjardins oversee5 all technical and logistiral aspects of the company'5 projects. Trustees develop the str8legi¢ plan for the company in collaboration wrfth the Artistic Director and Executive Dire¢tor. The trustees, r6port was approvèd by thè Board of Trustees. Peter Sparkes Director Dated.. 3 Dember 2025
CATHERINE WHEELS THEATRE COMPANY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CATHERINE WHEELS THEATRE COMPANY LIMITED I report on the finan(x81 staternenls of thè chanty for the year ended 31 March 2025, which are set out on paggs 9 to 22. Respective re$ponsibilities of trustees and 8xaminer The charty's trustees (who are also diie¢tors of (he cornpany for the purposes of comp8ny law) are Tesponsiblè for the preparation of the accounts in accordan with the terms of the Charities and Trust&& Investment {Scolland) Ad 2005 and the Charrties Accounts IScotland} Regulations 2006, and they consider that the audrt requirement of Regulation 10{1llal to (¢1 of the Accounts Regulations dtses not apply. 11 is my responsibility to examine Ihg accounts as ièquired under section 44{11{cl of the Act and lo state whether particular matters have come to our attention. Basis of indepèndent examlnerfs ststement My examination was carried out in accordance wrth the Statement of Standard5 for Reporting A¢¢ountants and Regulation 11 of the Charities Accounts IS¢otland} Regulations 2006. An examination includes a re¥iew of the accounting recxjrds kept by the tharity and a Comparison of the accounts presented with those records. 11 also include5 consideration of any unusual items or disclosures in the arLounls. and SkS explanations from the trustees concèming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequentty I do not express an audit opinion on the view given by the accounts. Independènt exarninerfs statsment In Connection with my exarnination, no matter has comè to my attention.. (al whid) gives me reasonable ¢ause to believe that in any material respèct the requir8mènts'. (l} lo keep accounting records in aceordance with section 44111{al of the 200S Act and Regulkn'on 4 of the 2006 Accounts Regulations., and {ii} to prepare accounts which accord with the accx)unting racords and comply wrth the accounting requirements of Regulation 8 of the 2006 Accounts Regulations and wth thè methods and principles of the Staternent of Recommended Pra¢tice.' Acts)unting and Reporting by Charities., have not been mel-, or have not been met or Ib) to which, in my opinTon. attenllon should be drawn in Order to enable a proper understanding of the accounts lo be reached. David G Stowart CA 19 Rutland Square Edinburgh EH12BB Dated.. 3 December 2025
CATHERINE WHEELS THEATRE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlctsd lund$ fund$ 2026 2025 Totsl Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Incomg and èndowments from.. Grants and Donations Chaiitable activities Investments Other income 292.310 50,244 2,846 3,929 292,310 50,244 2,846 3,929 226,786 37,428 15,995 242,781 37,428 2.fj40 4,499 4,499 Totsl in¢ome 349.329 349,329 271,353 15,995 287.348 enditure on: Charitable 3diMlies 376,993 10,041 387,034 323,885 9,805 333,670 Net 8xp8ndliuro forlho yearl Net movement In funds {27,6641 110,041) {37,7051 152.5121 6,190 146,322} Fund balances al 1 April 2024 180,609 13,315 193.924 233.121 7,125 240,246 Fund balances at 31 March 20215 152.945 3,274 156,219 160,609 13,315 193,924 The statement of financial activities indudes all gains and losses reeognised in the year. All income and expenditurè darivè from ¢ontinuÉng actiwties. The slalemenl of financial activities also complias with the requirements for 8n inwme and exp8ndrtU a)Unt under the Companies Aci 2006.
CATHERINE WHEELS THEATRE COMPANY LIMITED BALANCE SHEET AS AT3q MARCH 2025 2025 2024 Notes Fixed a$$•ts Tangiblg assets Current assets Debtors Gash at bank and in hand 12 3,654 5,996 13 24,045 183,043 181,910 188,258 207,088 Creditors- alnounts falling due within one year 14 135,691} 119,160) Nel current assets 152,565 187,928 Totsl assets le$$ currént liabilitie$ 156,219 193,924 Ineome funds Restrided funds Unrestricted funds Designated funds General unrestricted fun(Is 17 3.274 13.315 IS 80,604 72,341 119,789 80,820 152,945 180.609 156,219 193,924 The company is entitled lo thè exernplion from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 March 2025. The ttuslees acknowledge their responsTbilthes for ensuring that the charity keeps accounting record5 which comply with section 386 of the Act and for piep8ring financial $t3tements which give a Irue and fair view of the stsle of affairs of the company as at the end of tha financial year and of ils incoming re50ur(s and application of resources, induding its income and expenditure, for the financial year in accordance with thè requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Cornpanies Act 20(E relating to financial ststements. so far as applicablè to the company. The Members have not required the company to obtsin an audit of its financial slalernenls for the year in question In accordan¢e with section 476. These financial statèments have been prepared in acLordani with the provisions applicable lo companies subje to the small companies regime. The financial ststements were approved by the Trustees on 3 Decernber 2025 Petgr Sparkes Trustee ompany Registration No. SC203436 10
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policiès Charity inf0Mtion Catherine Wheels Theatre Company Limited is a private MpanY limited by guarantee incorporated in Scotland. The registarad officè is 22b High Street. E8sI Linton, East Lothian. EH40 3AB. 1.1 Accountlng convention The financjal statements have been prepared Sn accordance with the ¢harty's tgovernlng do¢umentl, the Charits'es and Trustee Investmènt (Scotlandl Act 2005, the Charities Accounts Iscoltandl Regulations 2006 las amended) and "Accounting and Reporting by Charities.. Staterllent of Recommended Practice applicable to charities preparing their account5 ill accordan with the Financi Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January 20191". The charity is a Public Benefit Entity as defined by FRS 102. The charty has taken advantsge of the prowsions in the SORP for ch8rthes apptying FRS 102 Update Bulletin 1 not to prapare a Slalement of Cash Flows. The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary arnounts in these financial statements are rounded to the nearest £. 12 Golng ¢on¢¢m The financial statements have been prÈp8red on a going concem b8sis which 8ssurnes contsnued financial support from grant fundèrs. CO grant funding has been secured for 2022r23 and additional project funding 15 continually ing sought. The trustees have assessed the charity's ability to continue as a going concern and have reasonable expectation that the charity has adequate resources to operate for the foreseeabje future. On thi5 basis the trustees consider that the charity is a going con¢em. 1.3 Charitsble funds Uniestrieted funds are available for use al the discretion of the trustees in frjrtherance of their charitable objectives. Restricted funds are Subjected lo reStrtionS on their expenditure imposed by the donor or through the leirns of an appeal. 1A Incoming resources Income is recognised when the charty is lègally gntitlgd lo it aftgr any p¢rforman¢e conditions have boen mgt, the amounts can be measured reliably, and il is probable that incorne wll be received. Cash donations are re¢ognised on re¢eipl. Other donations are recognised once the charity has been notified of the don*on. unless perfotman¢e condition5 require deferral of the amount. Income tax recoverable in relation to donations re¢eived under GiftAid or deeds of covenant is recogni5ed al the lime of the donation. Legaues are recognised on weipl or otherwise if the charity has been notified of an impending distribution, Ihe amount is known, and ieceipt is expected. If the amount is not known, the legacy is treated as ¢orrtingent a5seL 1.$ R¢$ource$ expended ExpÉndilure is recognised on an ac¢Tuals basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered and 15 reported as part of the expenditure to which it relales.. Cost5 of raising funds comprise the costs associated wlh attracting voluntary income.
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontlnugdl Charitable expendrture comprfse$ those costs in¢urrad by the charity in thè dèlivery of ts acbwtiès and services for its beneficiaries. It includès both cos15 that Isn be allocated directly tr) such activ([5 and those costs of an indirect nature necessary to support them. Production costs are recognised in the SOFA as inojrred. - Goveman( costs indude those costs assock8led wlth meeting the wnsb"lutional and slalutory requirements of the charity and indude the audit feès and costs linked to the strategic management ofthe charity. - All costs are lOCated beeen the expenditure calegoTies of the SOFA on a basis deSIgr to reflect the use of the resource. Costs relating to 3 particular activty are allocated direetly, others are app(brty"oned on an appropriate basis, e.g. 11oor areas. per eapita or eslim8ted usage. 1.6 Tangib flxed assets Tangible fixed assets are inrtially measured at cost and subsequently m&asured al cost or valuation, net of depre¢Salitsn and any impaimenl losses. Tangible fixed assets costing more than £500 are capitalised and included al c4)st in¢luding any in¢Sdentsl expenses of acquisition. Depreciion is recognised $0 as to write off the o)st or valuation of assets less their residual values over Ihetr useful lives on the following basas.. Website Computer Equipment Fixtures, fittings & equiprnerrt Produdion equipment 12.50h Straight line 33.3°k straight lina 20% straight line 12.5 QA Straight line The gain or loss arising on the disposal of an asset is detemiined as the drfference beiwetsn the sa prOed$ and the carryng value of the 8$$et, and is re¢ognised in net incomel{expendilurèl for the yeai. 1.7 Impaimnt offixed a$$éts Al each reporting end date, the charty reviews the carrying amounts of ts tangible assets lo deterrnine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is e51imed in ordei tr) determine the extent of the Impaim)ent loss {rf any). 1.8 Cash and ¢ash equivalents Cash and cash equivalents indude cash in hand. deposits held at call with banks, other 5hort-tem liquid investmen15 wlh original m*LJrities of threè month5 or lèss, and bank overdraft5. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instrumonts Issues, of FRS 102 to all of its financial instruments. Financial instruments are recogni5ed in the charrtls balance sheet when the charity becx)me8 party to the contractual provisions of thè instrument. Finanaal assèts and liabilities are offset, with the net amounts presented in the financial statements, whèn therè is a legalty enforceable right lo set off the reeognised amounts and therè is an intention to settle on a net basis or to realise the asset and setue the liability simultaneously. 12-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Aecounting poli¢ie8 Icontinuedl Basi¢ finan¢ial assets Basi¢ financial assets. whith include debtors and cash and bank balances, are inibally measured at transaction pri including transaction costs and are subseqtjently carried at amortised cost using the effectNe interest method unless the arrangement Constitutes a financing transaction, whère the transaction is measured at the present value of th& fLrture rè¢oipts discounted al 8 market rale of interest. Financi81 assets dassified as receivable within on? y&ar ale not atnottised. Basic financlal Ilabllltles Basic financial liabilities. induding creditors and bank loans are n)itially recognised at transaction price unlèss the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the )irture payments discounted at a market re of interest. Financial liabilili¢s dassffied as payable wthin one year are not amortised. Debt instruments arè subsequendy ¢arriod at amortised cost, using the effective interest tale method. Trade creditors are obligations lo pay for goods or services that have been aUired in the ordinary course of operatitsns fiotn 5upplier5. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade crÈdi(ors arè rècognissd initially at transaction pri and subsequently measured at amotb.sed cost using the effectwe interest method. Derecognition of finanelal liabilitiès Financial liabilities are derecognised when the charity's eontractual obligations expire or are discharged or cancdled. 1.qo Employèè btnèfits The cost ot any unused holiday entrfèmÈnt is rÈ¢ognised in the period in which the employee's senrices are rerEived. Teminalion benefits are recognised immediately as an expense when the charity is demonstrably commrttad lo terminate the employmert of an employgè or lo prr)vldg lemination beneffts. 1.11 Retirement beneffts Payments to defined contribution retirement benefrt schemes are charged as an expense as they fall due. 1.12 Foreign exchang• Transactions denominated in foreign oJrrenciÈs arè translated at the rates of exchange prevailing at the dal& ol each transaction. Assets and liabilitiès are restsled al the res of exchange ruling at the b8lance sheet datè, with resullanl exchange dIffenceS induded in the Statement of FinanrAal Activities. 1.13 Taxation The company is a charitsbl8 MpanY wtthin the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the cornpany is potentially exempt from taxation in respect of income or capital gains ceiVed within the categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and sectlon 256 of the Taxation of Chargaable Gains Act 1992 to the extent that suth coMe 01 gains are 8pplied for charitable purposes only. 13-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltl¢al aoUnting estimates and judgomonts Estimates and judgements are ntInUallY evaluated and are based on hi510ri(31 experience and other factors, including exp&ctalions of futurè events that arè believed lo be reasonable under the ¢ircumslance5. The charity makgs éstimates and assumptr'ons conceming the future. The résulting acUntIng estimates will. by definition, seldom equal the related actual results. The estimate5 and assumptions that have a significant risk of ¢ausing a rnalerial adjustrnenl lo the carrying arnounts tsf assets and liabilrties wf(hin the next financial year are addigssed below. Useful economic lives of tangible a55ets The annual depreciation d)arge for tangible asset5 15 sensitive to changes in the eslimaled useful economi¢ lives and residual values of the assets. The useful economic lives and ressdual values are re- assessed annually. They are amended when necessary lo reflect current estimates, based t>n technological adVanMent, future investments. eeonomic utilisalion and the physical condition of the assets. See note 12 for carrying amounts of tangible assets. Impairment of debtors Tha charity makes an estimate of the recoverable value of trade and other debtors. When a55essing irnpaiment of irade and other debtors. management considers factors including the current credit rating of the debtor, the agelng profile of dabtors and historical experience. See note 13 for ¢arwng amount of debtors. Gr•nts and Donations Unrestricted Unrestricted Restricted fvnds funds fvnds Total 2025 2024 2024 2024 Donalions and gtfts Corè Grant Other grants 54,902 213,750 23,658 50 213,750 12,986 50 213,750 28.981 15,995 292.310 226,786 15,995 242,781 Charitable a¢tlvities Box Office & Hlre Incoffl• Totsl Box Ofnce & Hirn incomo 2025 Totsl 2024 202S 202S 2024 2024 Sales wrthin charitab19 actiwlies 50,044 200 50,244 3e,188 1,240 37,428 14-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Inv•stmÈnts Unr¢strieied Unrestrirted funds funds 2025 2024 Interèst ieceivable 2,640 Other incom? un81Cted Unrestiicted funds funds 202S 2024 Other income Contributions to costs 3,695 234 3.711 3,929 4,499 15-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable aetlvltlos Theatrical Theatrical Productions Productions 2025 2024 Staff costs Depreciation and impaimienl Production sts Travel, Accommodation and Subsistonce Royaltie5 Marketing and Advertising 171.475 2,342 115.585 17,241 3,470 6,168 155,234 2,481 76,404 13,192 1,800 9,741 316.281 258,852 Share of support costs (see noto 81 Share of govemance costs (see note 81 69,637 1.116 73,754 1,064 387,034 333,670 Analysls by fund Unrestricted fvnds Restricted funds 376,993 10,041 323,86S 9,805 387,034 333,670 16-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Supportcosts Support Govemance costs costs 202SSupport costs Goveman costs 2024 Exchange Losses Rent Water Insuran Light 8nd heat Repairs and maintenance Postage and station6ry Telephone Travelling expenses Consultsn¢y fees Sundry expenses 82 82 8,100 8.100 404 2,896 1,363 9.750 815 2.805 1.808 9,750 815 2.805 1,808 2.896 1,363 20,611 53 1.552 1,600 25,686 7,372 20,611 53 1.552 1,600 25,686 7.372 5,302 717 1,353 1,307 45,773 4,124 5,302 717 1,353 1,307 45,773 4,124 Accountancy L8gal and professional 1,000 1.000 950 108 950 108 69.837 1.116 70.753 73.754 74.818 Analysed betwee Charitsble a¢tivrties 69,637 1,116 70,753 73,754 74,818 Trustees None of the ttustees lor any persons o)nnected wf(h them) reiVed any rernuneration or reimbursement of expenses during the year. 17
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employees Number of gmployee$ Thtr average morrthty number of employees during the year was.. 2025 Number 2024 Number Core Staff Performers Employment costs 2025 2024 Wages and salaries Social secuFty costs other pension costs 159,531 7,821 4,123 145,213 6,448 3,573 171,475 155,234 There were no employees whose annual rernuneralN)n was £60,000 or more. 11 Key management personnel Tha key m8r4agemenl personnel ofthe charity, wmprise the Trustees, the Chief Execuiive. Executwe Director and Producer. The total employee benefrts of the key management personnel of the charity were £116,347 12024. £106,606). 12 Tangible tlxod assets Web5it• Computèr Equipment Fixtures. fftlings & oquipment PTodu¢tlon Oquipmènt Totsl Co$t Al 1 April 2024 Disposals 17.000 17,741 2,078 {1,500} 50,772 87.591 11.5001 Al 31 March 2025 17,000 17,741 578 50,772 86,091 DepreeKation and impairn*nt Al 1 April 2024 Depreciation charged in tha year Eliminated in respect of disp05als 14,031 625 16,150 1,702 116 11,5001 49.712 905 81,595 2,342 11,5001 Al 31 MaTch 2025 14,656 16,846 318 50.617 82,437 Carrying amount At 31 March 2025 895 260 155 3,654 Al 31 March 2024 2,969 1,592 375 1.060 5,996 18-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Debtors 2025 2024 Amounts falllng due within one year. Trade debtor5 Other debtors Prepayments and accru income 21,245 63 2,737 6,345 24,045 14 Creditors: amounts falling due within one year 2025 2024 Other taxation and social sacurity Trade Greditors Other uedilors Accruals and deferred income 3,399 11.770 5,319 15,203 1,267 4.821 1.708 11,364 35,691 19,160 19-
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE NNANCIAL STATEMENTS ICQNTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 160&$1gn4todfundB Th• ofthèthaltyintbAeihefl1g &llnattsIfU5th1Ch h&vebe8n sel trrtol unrestr¢tfjdfuld$ bythe wJ•8sfar$peC MDvtment MovArnqntlnfi)nds Irwin9 IMM¥•ry IwlllnH R•¥¢vr f¢••urEns Apend¢d IAprf12023 tAprf12024 31 1025 Ger41¢Titsbk1ths FdA$et% Dyrtal DeVOt or9nalonal De¥doni East L01h DevekorfentFund Audi8nce DÈveknpmM & M¥ketfftg Fwd staff Devebpmgnl irtegrJAccess Research Prop siurtlo, Equipmprt and Rette¥ siudioand Eouipnwrni Enwronm#tt Re$ponseFU Fram¢ D8veloprnÈrt st Dgveiopm&nt Soundshapes If&inetSy tr1vj1 Bndk Rese & unlik+ FriBndship Apnl Imayln* ThB Fo$t atthe Fik lpu$ 108,523 6,55e 249. 1291,eW) (2.4B11 13.4701 1,919 62.820 5.996 238,863 P41.1861 12.3421 12.344 72.341 3,654 5.ODO 5.000 25.775 15.5331 (2.2421 18.WO 184n 117.35al 12.CWI 12,348 I4.0) IW21 18,352 4,0 (8.7L¥4 4.677 5.323 14.9S21 21,950 10.0 15.000 36.950 20.316 13.978 (10.0001 20n 6.816 6.671 9.383 142,5581 119,SYI 10.0 io,( a0,r 140.C( 1.049 1,049 12.986 1D.( 12,574 (35.5&)1 233.121 271.353 {3.e$s1 349.329 1376,9931 152.94S
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 16Dwiignatsdfun IContinLdl 8ssets rEw¢xDl¥lh¢tyndslKd up knthe theiyst8nyibieftfed assets Slutho. Equipment& Rehr5cOmI¥jtSt0 reFla¢&llTrfntuP]rndV1 Ihatxe Rquired ara$S[5tthe rnln StafOwprM an&prtyJrdmm8 refibxbrt•iJ tewnsNets opPtrnrfS Iwndthe lorthe oIMuMyerFuMinO from creleSCo14allrt.
CATHERINE WHEELS THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Analysls of ngt assets betsveen funds Unre$trf¢trd Restricted funds fvnds 2025 2025 Total Unrestricted funds 2024 Restricted fvnd3 2024 Total 2025 2024 Fund balances al 31 Mah 2025 are represented by". Tangible assets Current asselsllli8bililies} 3,e54 149,291 3,654 152,565 5,996 174,613 5,996 187,928 3,274 13,315 152,945 3,274 158,219 180,609 13,315 193,924 17 Restri¢tsd funds The income funds of the charity induda restricted funds (xjmprising the following unexpended balances of donations and grants held on trust for spe(ific purpose5'. Movemènt In funds Balance at 1 Ineoming Resources 8#lance at 31 April 2024 resour¢e$ expended March 202S Youth Audience Sector Research 13.315 (10,0411 3,274 13,315 {10,0411 3,274 YA Audien¢e Sector Research.. Catherine ltheels are holding funds for a sectoral researth funded by Creative stland. 18 Operatlng lèase commitm•nts At 31 March 2023 the charity had totsl future minirnum (x)mmitments under n0CanlIable operating leases as follows. 2025 2024 Imthin one ye8r 1,200 1.200 -22-
CATHERINE WHEELS 2025 ACCS Final Audit Report 2025-12-10 Caled. 2025-129 By.. Davhy S18wart Ida¥hJ.stewart@ffdal.coml Status.. Slgr*d Transaction ID.. C8JCHBCAABAATvd7ufvVgPFWXNsfNPTUmbqQOP8t3_71 "CATHERINE WHEELS 2025 ACCS" History Document creatgd by Davld Stewart ldavld.slewart@mcfal.coml 2D25-12.09- 1020.'45 GMT * Document ernailed to pelesparkes@drakemusicwtland.org for signature 202>12-09- 10..21.'16 AM GMT Email viewed by petesparke5@drakemusicscotland.org 202&12.10- 3.'21.'55 PbA GMT &o- Signer pelesparkes@drakemusicscodand.org enterèd nama at signin9 as Pèter John Sparkès 2025-12-10- 3."35..15 PK4 Document e-signed by Peter John Sparkes 1pelesparkes@drakemusicscottand.orgl Si9natura Date.. 2025-12-10-3..35..17 PM Gr- Tirne Source.. server O Agreement completed. 2025-12-10- 3..35..17 PM GMT Adobe Acrobat Sign