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 alS￿hoTo 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 adVan￿MerIt 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 bc*th intellectually and ernotionally.
Working from an officé at The Bruntr)n in Mu55elburgh, which ig generous￿ provided in kind by East Lothian
Council, C*herine 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& cent￿1 to a robust sector accessible lo di￿158
audiences.
Critles Awards ft)r Theatrn In Scotland2024 (CA TS)
POBB'I DINGI,.,
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I:RITIL5 AWART
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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 fO￿e Cent￿1 to a robust sector accessible to diveTre
audiences.
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The Last ForeGast ran at the Edinburgh Festival Fringe as part of the Made in Scotland Programme from 3 - 18
A￿gust 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 Techni￿1 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 S￿liand, 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 Cre*ive 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 ¢xe*es 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 fO￿e 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 freelan￿TS 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 M￿gate 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
en￿lronmenta1 sustainabilty and a need lo diversify the practitioners we work with, to rep￿sent 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 De￿mber 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 S￿kS 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 inf0M￿tion
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 reStr￿tionS 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 be￿een 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.
Depreci*ion is recognised $0 as to write off the o)st or valuation of assets less their residual values over Ihetr
useful lives on the following basas..
Website
Computer Equipment
Fixtures, fittings & equiprnerrt
Produdion equipment
12.50h Straight line
33.3°k straight lina
20% straight line
12.5 QA Straight line
The gain or loss arising on the disposal of an asset is detemiined as the drfference beiwetsn the sa
prO￿ed$ and the carryng value of the 8$$et, and is re¢ognised in net incomel{expendilurèl for the yeai.
1.7 Impaim*nt offixed a$$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 e51im*ed 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 r*e 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 a￿Uired 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 r*es of exchange ruling at the b8lance sheet
datè, with resullanl exchange dIffe￿nceS 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 a￿oUnting 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 ac￿UntIng 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 adVan￿Ment, 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?
un￿81￿Cted 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) re￿iVed 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&$1gn4todfundB
Th• ofthèthaltyintbAeihef￿￿l1￿g &*llnattsIfU￿5￿th1Ch h&vebe8n sel trrtol unrestr¢tfjdfuld$ bythe wJ•8sfar$peC￿*
MDvtment
MovArnqntlnfi)nds
Ir*win9 IMM¥•ry
IwlllnH R•¥¢vr
f¢••urEns *Apend¢d
IAprf12023
tAprf12024
31 1025
G￿er41¢￿￿Titsbk1th￿s
F￿dA$￿et%
Dyrtal DeV￿O￿￿￿t
or9￿n￿alonal De¥do￿￿ni
East L01h￿￿ DevekorfentFund
Audi8nce DÈveknpmM & M¥ketfftg Fwd
staff Devebpmgnl
irtegr*JAccess Research Prop
siurtlo, Equipmprt and Rette¥￿￿
siudioand Eouipnwrni
Enwronm#tt Re$ponseFU
Fra￿￿m¢ D8veloprnÈrt
st Dgveiopm&nt
Soundshapes If&inetSy ￿￿tr￿1vj1
Bndk Rese* &
unlik+￿ FriBndship
Apnl Imayln*
ThB ￿ Fo￿￿$t atthe Fik
￿l￿p￿u￿$
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
IContinL*dl
8ssets rEw¢xDl¥lh¢tyndslKd up knthe thei*yst8nyibieftfed assets
Slutho. Equipment& Reh￿r5￿cOmI¥jtSt0 reFla¢&￿￿￿l￿l￿*￿￿￿TrfntuP]rndV1 Ihatxe Rquired ar￿a$S[5tthe rnln
StafOw*prM* an&prtyJrdmm8 refibxbrt•iJ tewnsNets opPtr￿nrf￿S Iwndthe
lorthe oIMuM￿ye*rFuMinO from cre￿￿leSCo14allrt.

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$trf¢trd Restricted
funds
fvnds
2025
2025
Total Unrestricted
funds
2024
Restricted
fvnd3
2024
Total
2025
2024
Fund balances al 31
Ma￿h 2025 are
represented by".
Tangible assets
Current asselsllli8bililies}
3,e54
149,291
3,654
152,565
5,996
174,613
5,996
187,928
3,274
13,315
152,945
3,274
158,219
180,609
13,315
193,924
17 Restri¢tsd funds
The income funds of the charity induda restricted funds (xjmprising the following unexpended balances of
donations and grants held on trust for spe(ific purpose5'.
Movemènt In funds
Balance at 1
Ineoming Resources 8#lance at 31
April 2024 resour¢e$
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 s￿tland.
18 Operatlng lèase commitm•nts
At 31 March 2023 the charity had totsl future minirnum (x)mmitments under n0￿Can￿lIable operating leases
as follows.
2025
2024
Imthin one ye8r
1,200
1.200
-22-

CATHERINE WHEELS 2025 ACCS
Final Audit Report
2025-12-10
C￿aled.
2025-12￿9
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
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