Chaty roglstrdtlon numbor SC041217 Company reglstratlon number SC362457 {S¢tsllandl ARTICULATION ARTS LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ARTICULATION ARTS LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trugts•s Jennrfer Paler50n (Chair to August 20251 Ruxandra Canlir Lynne McDonald-Smith Rebecca Anson Navid Foroulan Icwhair from August 20251 Juszth'na Hemann Nicola Lawton (cchair from August 20251 Gemma Simpson Shirfey Alexander IAppointed 12 May 20251 (Appointed 5 April 20261 Charity number SC041217 Company numb•r SC362457 R9gIstsr offlco Studio G17 Out of The Blue Drll Hall 3&38 Dalmeny Street Edinburgh EH6 8RG Indèpondont oxamln¢r McFadden Associates Limited 19 Rulland Squ8re Edinburgh EH12BB
ARTICULATION ARTS LIMITED CONTENTS Pag• Trustees. report Independent examlnefs report Statement of financial activities Balance sheet Notes to tho finan¥1 stslements 8.16
ARTICULATION ARTS LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their annual report and finanaal statèn*nts for the ye8r ended 31 December 2025. The financial statemants have beèn prepared in accordance with the accounting policies set out in note 1 to the finanaal statements and ¢ompty with the charty's Igoverning documentl, the Companies Act 2006 and 'Accountin9 and Reporting by Charits'e5.' Slalernent of Recommended Practice applicab19 to charthes preparing their ac¢ounts in accordance wlh the Financial Reporting Standard applicablè in the UK and Republic of Ireland {FRS 1021" (effective 1 January 2019). Objeclives and act5vities The Company's rnain charitable objective is 'to support thè advancément of the art5 and cutture, by ¢heir promotion, irnprovemenl and encouragement, particularly Physical Perfoman¢e - a term used lo cLJver the arts.. physical theatre, outdoor performance and circus. Artlation Arts Lirniled doe5 thi5 princApalty through resaarch, advocacy, and slratogi¢ dtrveloprnenl actiVTties. A¢hiev&ments and porfornianco In 2025 key Articulallon activilles were.. l. Staffing & oryanisatlonal dovelopmont ncrè The increased capaaty of the Director role to 3.5 days per week from June 2¥ to Dec 25 has been beneficial . The Comrnunication and Marketing Lead 4s one full day per week and we recruited a PTogramrne and Membership Coordinator at one full day a wèèk- increasing those houT5 as required during the busiest summer rnonlhs and in order to furthar inuaase our ¢ap8¢ity lo successfully deliver our expanding prograrnme, it was agreed lo increase this freelance role 1¢ two full day5 per week al the end of 2025 . Articulation Membershi & NeOrk '. An important element of the 2025 development of the Articulation membership has been to build communication with our rnembers and enable them to have a say on key $e¢tor issues. irnpacls and needs, in order to inform and shape sector development . We have worked together strategically with OUT partners, sharing best practi and a wealth of knowledge, skills and experience.The ArtUlatIon Membership neOrk is currently free of charge and is lor everyone involved in ciieus, outdoors arts or 5pectade in Scotland. The membership has grown to over 100 and we continue lo engage with the sector, enhance our member offer and grow our membership. Our monthly nsletter remains an Important means of cornrnunication with our broadèr sector network and subscnber numbers remain 51e8dy. with the most recent neW$tter issuing to 576 usèrs. Reported open rale5 for the monlhly dige51 remain stable al 4448°A, Our click-through rates have In¢reased. ranging from 10.7-11.6%. indir2ting that we continue lo share relevant content. rn ". In Autumn 2025 Jennifer Paterson, All or Nothing Artistic Director stepped d¢)wn frorn the role of Articulation Chair. She agreed to stay-on as a trustee and in an admsory capacty for the new Co-chairs. Nicola Lawton an(t Navid Foroutan As part of the ongoing Articulation govemance planning to ensure we continue to have the skills and expertise there was a board re¢wrtmenl call-out in Decernber. We were delighted to be able to recrurt 4 new trustees to the Articulation Board of Director5. The new Board Members brg considerable cross-sector experience and indude three new Trustee5 and the appointrnent of our first Treasurer- a vital and much-needed rolg for us as wg continue lo grow. Z. Profos$lonal Development & Trllnlng Progranwne Our nehvorking and professional development events offer practical infomiation on best pra¢tice across outdoor arts, circus. spectacle and physical performance and offer advice frir emerging and Èslabli5hed artists. In 2025 Articulab"on delivered a lailored programme of training, events and initiatives to support the needs of practitsoners through a range of opportunities lor skills devèlopmgnl and tsigeted professional support.
ARTICULATION ARTS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2025 2026 Artl¢ul•tion Webinar Programme.. il Funding 101.. Arts funding session with Truffl Pi ill Pitching Your Work with Phil Hargreaves- 20th MARCH iiil Outdoor Specl8cl&.' From Ideas to Reality- with All or Nothing 8 DAT Events iiil B8yond Borders- International Touring for CifCUS with Yellow Eve thin - 20th NOV iv) OutdoorArts Suslainathlitywith Thea re en Book.- 27th NOV . 13th MARCH 3rd APRIL 2025 Articulation Trnining & Prof•ssrtsnal Dèvelopment Programme: Articulatlon N•lworklng Event @ M&nipulate Festival, Traverse Theatre , Edinburgh- 8th FEB 2025 Outdoor Arts, Circus & Spectacle Ambitions for th• soettsr & a manifesto for Scolland Artl¢ulalion Summer Gathering @ Merchant City Festival * Surge . The Soci81 Hub, Glasgow. This event shaied sector researctt findings and explored our common ambitions and wsions for Outdoor Arts, Circus and Spectacle in Scolland. Breakout sessions explored the next steps for these arrfomis and ambthons for a rnanifesto for OutdoorArts, Circus and Spectade in Scotland. 18th JULY. Articulation Edinbur hFrin l. Contèmporary Clreu$ & Outdoor Arts - Beyond Bord•rs.' Part of the Fring8 Centr81 Progrnmme 2025. This session was delivered in partnetship wlth Artists fronp globalty nOWn Co en Collective and Ima inate . We 8xplor&d ¢n)ss lJord&r partnerships, 8xèmffning some of the ctiVe, cultural and lingthstic diffèrnn¢es, ouei$tioning how these arp ov8rco)me, ¢018br4t8d and ernbrad and how these infomj Ih8 ¢.Ve process of intemafv'onal ¢oireation. 5th AUG 2025 2. Articulation Fringe Fair .' ArticUlatn was ffnvolvgd in x2 sessions, these infom7al, drop-in sessions were an opporturrity for individual$ and organisalions to meet key fundefr3, membgrship ooanftsations, tranirtg providers and perfom7ing arts agenci&s. Fiinge C&ntral, Grassmart(et Commurrity Pn)ie¢t. Edinburgh, 8th + 7&h AUG 2025 Articulation The S ace Between - Creatwe Leamin Exchan • Findhorn Ba Arts Creative Leamin Eychan Anyèla Ad8ms-Gr8y Articulation Director delivered a keynote speech that explored how creativè work in the public realm changes the way people expeiien¢e place. Articulation delivered an afternoon workshop wlh multi-disciplinary artist and Arts'culation member Jideofor Muotune This interactive session explored how creative interventions can transform public spaces, lostering identty. aulonorny. and belonging. Through varied activitiès. thé session exarnined how ouidoor arts can shift 8 place's narrative, incorporats'ng multiple contemp)rary perspectives. Fri 26 SEPT. 3. Advocacy Progrnmme: A key part of the sector development Arti¢xJlatlon delbvers is the advocacy work with partner organisations aeJoss Scotland, the UK, Ireland and intèinationally. In 2025 our advocary programme èxpanded our UK 8nd Irish partnerships and we increased our International focus. InvVernent in and attÈndancÈ at a series of events throughout tha year induded Equity In Action- The Power ofDiverse NaalveS OAUK confèrènce, Stoke-on-Trenl. 5+6 FEB 2025. Fresh StTrel International Showcase Circostrada Out There Festival Great Yarmouth , 2&20 MAY 2025. (Articulation Director attend8d with 5x Scottish Based ouldoorAits practthoners , fijndgd by Greatwe Scotlandl. SPRAOI Intemational Str&8lArts Fesb"v81. Waterford, Irelance. 14 AUG 2025. MOMENTUM , British Council & Creative Scotland Intemational Exchange NetWking E1$ Edinburgh. Pr16 AUG 2025 . Firn Taffega Intefflallonal StreatArts Showcasg . Articulation shared a sland wllh S¢ottish performance company Moonslide in La Llolja Professional Area. Catalunya. Spain , SEPT 2025.
ARTICULATION ARTS LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Evaluatlon & R¢s¢•r¢h . In January 2025 we stsrted a 6-month Outdoor Arts,Circu$ and Spectacle IOACSI sector research project in partnership wrth Queen Margaret Universrty. Thi5 research included 1-2-1 interviews, focus group5 and surveys with a wide range of artis15. organisations , arts agencies from acros5 Scotland, the UK, Ireland and selected International represenlatives This research project culminated at the end of the year with the publication of Scotland's fiF5tver Outdoor Arts, Circus and Spectade sector report Be ond the St£ 8ringing together voices, data and stories frorn acloss the country, ihis report helps us to evidenca the importance of OACS in terms of creating accessible cultural experiences and the sector's role helping to strengthen eommunities and support Scotland's wellbeing and national identity . By do¢umenling Scodand's OACS landscape for the first Ilme this research lays the groundwoik for bettèr support. clèarer wsibility and a stronger futur8 for our sector. 2026 Artleulatlon dèllvèry- summary: In 2025 we continu8d to mget our organi$alional objectives and we successfully advocated foi our 58ctor, via enhanung our relationships with key decision-makers, increasing the wsibilty of our artfomis al National and International level. and Championing the importance and wn5iderable impacts of outdoor arts, circu5 and spèctade. The development of strategic relationship5 acr05S the sector building on existing partnerships and forging new ones is vital lo ensuring we meet our ambitions and objectives. Articulation's national focus is combined with an inlemalional outlook and in 2025 we expanded our work to help our sectors work internationally and increase our support for indiwduals and organisations in our nehyorks. Our focus Is on supporting artists and organisations based in Scotland, however we also recognise the importance of raising the profile of Scottish Outdoor Arts, Circus and Spectacle Intèmats'onally to hèlp to build sustainable careèrs for artists and organisations based in Scodand. In 2025 we worked closely wf(h our sister organisations across the UK and Ireland , induding Outdoor Arts UK Iwhieh has an English lo¢us dug to its prirnary fvnding from Arts Counal England I, ArtiCLklture in Wa16s and Irish StreetArt5, Cricu5 alld Sp8Ctade IISACSI and Internationally via the European Cl$ n8fv40rf( Circostrada and wrth Fira Tar98 Inlemallonal SlreetArts Festhv81 in Spain. Financial review All grants received in yearnd 2025 werè awarded lor $pecifi¢ projed delivery 8rtd as suth are das5ffied as restricted income, including.. 1) Cr8atlV8 Seotland Lottéry Funding Open Fund first inslallmenll £68.112 - 75¢A of the total grant award ) was re¢e*vefl in October 2025 for delivery in 2026r27. 21 Creative Scotland Extended Progfr7mme Fund activtty timeline was extended lo allow for dek'very of the Beyond the Stagg Parliament Reception in January 2028 and lo enable Articulation lo host an Industry AfteTnoon at Manipulate Festival on 9th February 2026. End of piojed reporting 15 due mid-M8y 2026 and the final inslalment of £10,000 is due upon receipt and approval of the end of project monltorfng rt. Th6 Qu8&n MargaftE)t Univotsity funding was 8 ¢ontribulion towards addrtional research team fy'rne and for the graphic design oflhe 8eyond the Stag& sector report which was fully expended by December 2025. The majority olArticulalion's funding is restricted and musl be spent as per tems of funding agre&mant,'Ihèrèlorè our reserves are low at equivalent lo approximately three months expenditure . This is mitigated by the fart that the Company continues to have very fèw core costs as it is currentty rent-freè and employs one part lime member of staff on a Ied tem) part-time contiact. Thè afrm is lo in¢r$ase the level ol reserve5, 8fKI Iheiefore the resilience of Ihe organisation. It is the policy of the charity that unfestricted funds which havè nol been designated lor a specifie usé should be maintained at a level equivalent to beeen Ihrèe and six month's expenditure. The Iruslees consider Ihal reNe$ at this lovèl will ènsuré that, in the event of a signthcanl drop in fvnding. they will be able lo continue the charity's current activitie5. while ¢onsider3lion is given lo way5 In which addrtion81 fund5 may be raised. This level of reserves has not been maintained to that level throughout this year, in the rnain due to increased Programme delivery and our project funded Status. Current fundraising plans are addressing this in order lo increase reserves again to the desired level. The trustees are assessin9 the major risks to whh the tharity is exposed, and are actively working lo put systems in place lo miligale exposure lo the major risks.
ARTICULATION ARTS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 structurè. govarnanco and managèment The charity is a company limited by guarantee. The trustees, who are also the dire¢lors for the purpose of company law. and who s8d during the year and up to the datè of signature of the finanaal statements were.. Jennifer Paterson (Chair lo August 20251 Ruxandra Cantir Andiew Simp50n Lynnè M¢Donald-Smilh Rebecca Anson Navid Foroutan {Cwhair from August 20251 Jusztina Herrnann Nicola Lawton IC(p¢hair from August 20251 Gemma Simpson Shirley Alexander (Resigned 5April 20261 (Appointed 12 May 20251 (Appointed 5 April 20261 None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contiibute £1 in the event of a winding up. As part of our future planning in anlicipalion of some of the board who Mll be stepping down in 2025126 we had another Board recruilrnenl drive in December 2025 { appointsng four new Iiuslees al the beginning of 20261 . As a sm811 leam, Articulation's Board is essenb'al to our success, prowding slr8legic expertise and challenging questions that help us fulfil our goals and hold us accountable. Following a recent recruitment process, our new members represent a diverse group of artists. producers, and urcu5 5peciali515 from across Scotland. They bring extensive experien not only in outdoor arts and spectacle but a150 in rnulti-artlorm and cross-sector work. The Board are the employers of the director and dele9ate the opefalional running of Articulation lo the director and 51aff. They act in an advisory capacity to the director, responsible for supporting their 5upervisionlappraisal and 8150 give guidance and support in all aspects tsf the ofgani58lion. This includes the govemance, strategy. nance and running of the organisation. The board is responsible for ensuring thatArticulation is run with suitable policies and procedures in plaeè, including an EDI Plan and EDI Policy. They are expected to adhere to thè Articulation Code of Conduct and ensure that operations are run in line with the appropriate legislation. To help with this. external spe¢iali515 are bioughl in as required for specific matters such as HR, lègal and finance. The trustees. Teport was approved by the Board of Trustees. hidey AIExaDdef illay 29. 2026 12 31 4Y GPAT+11 Shirfay Alèxandar Trustee Dated.. 15 May 2028
ARTICULATION ARTS LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTICULATION ARTS LIMITED I report on the ffinancial statements of the charity for the year ended 31 December 2025. whh are sel out on pagas 6 10 16. Re¥pectlve responsibilities ol trustees and •xamln•r The ¢hairty's trustees Iwho are also directors of the company for the purposes of company law) are responsib for the preparation of the accounts in accordance wih the tems of the Charities and Trustee Inv8slment (Scollandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006, and thèy consider that the audrt fequiremenlof Regulats'on 1011lla) to Icl of the Accounts Regulations does not appty. 11 Is my responsibility lo examine the accounts as required und6r section4411llcl of the Aet and lo slate whether particular matters have come to our attention. Basls of indèpèndènt èxamine8 report My examination was carried out in accordance with the Statement of Standards foT Reporting Ac£ounlanls and Regulation 11 of the Charities Accounts Iscodandl Regulation5 2006. An examination indudes a review of the accounting records kept by tho chaiity and a ¢omparison of the accounts presented wf(h those records. It also includes consideration of any unusual items or dtsc105ures in the accounls, and seeks explanatsons from the trustees conceming any such matters. The procedures undertaken do not provide all the ewdence that would be required in an audit and consequently I do not express an audit opinion on the wew given by the accounts, Independent examinerfs statement In connection with my exarninalion. no matter has corne lo my attention.. lal which gives me reasonable cause lo be"eve that in any material respect the requirements-. to keep accounting records in accordance wth section 4411118) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations., and lil) to ppare accounts which accord with the accounting records and comply wrth the a¢counting requirement5 of Regulatson 8 of the 2006 Accounts Ragulations and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charf(ies', have not been mel or Ibl to whith, in my opinion. attention should be drawn in order lo enable a proper understanding of the financial slalements lo be reached. DavKI Stewart CA 79 Rutland Square Edinburgh EH12BB Dated.. 29 May 2026
ARTICULATION ARTS LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unmtricted Restricted fund* funds 2025 202$ Total Unr¢$tri¢ted Restrictsd funds funds 2024 2024 Total 2025 2024 Notes In¢ome from.. Charitsble 8ctivib.es 92.2fj6 92,343 96 122,380 122.476 Charitable actiwties 68,568 68,568 66,207 66,207 Nèt ineome and movement in fund$ 23,698 23.775 56,173 56,269 Reconciliation of funds: Fund balan5 al 1 January 2025 9,005 78.498 87,503 8,909 22,325 31,234 Fund balances at 31 Dgcemb8r 2025 9,082 102,196 111,278 78.498 87,503 The statement of finan¢ial activrtie5 indudes all gains and losses recognisèd in the year. All incDme and expendrtLFre derive from continuing aclivilies.
ARTICULATION ARTS LIMITED BALANCE SHEET AS AT31 DECEMBER 2025 2025 2024 Flxèd a$$ets Tangible assets 3,817 8.200 CurT¢nt a$8•ts Debtors Cash at bank and in hand 10 33,954 75,744 65,980 15.892 109,698 81,872 Creditors: amounts fallln9 duè within on• ygar 11 2,237 2,569 Nel current assets 107,461 79,303 Total assets less curyent liabiliti•$ 111.278 87.503 The funds of the charlty Restricted income funds Unr8striet8d funds 12 102,196 9,082 78,498 9,005 111,278 87.503 The o)mpany is enlilled lo the exemption from the audil requir&m&nl contalned In sectlon 477 of the Companies Ac* 2006. for the year ended 31 Dember 2025. The directors acknowledgè thr rèspon&bilities for ¢ornptying with the requirernents of the Cornpanies Act 2006 with respect to accounting records and the preparation of financjal stalernents. The mernbers have not required the company to obtain an audit ol its finanaal slatemants for tha y8ar in quèstion in accordance with section 476. These finanaal statements have been prepared in accordance with the provisions applicable to companies subject to the small companiès regime. The 17nanci81 statements were appioved by the trustees on 15 May 2026 Shirtey Alexander (May 29. 2026 12"31..49 GMf+ Shirley Ajexander Trustee Company registration number SC362457 (Scollandl
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Charlty Infomiatlon Articulation Arts Limited is a private eompany limited by guarantee incorpoiated in ScAJlland. The registered offu is Studio G17. Out ofThe Blue Drill Hall, 3&38 Dalmeny Street, Edinburgh. EH6 8RG. 1.1 A¢¢ountlng convention The finanual statements have been prepared in accordance with the charity's Igoveming documentl, the Companies Act 2006, FRS 102 'The Finanoal Reporting Standard applicable in the UK and Rèpublic of Ireland. I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities." Stslernenl of Re¢omrlltsnded Practice applicable to charities preparing their accounts in a¢¢ordan¢e wilh the Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS 1021" leffeclive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charty has taken advantage of thè proMsion$ in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of thè ch8rty. Monetary amoun15 in these financial statements are rounded to the nearest £. The financ¢al statements have been preparèd under the historical cost convention, Imodified lo include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair valuel. The principal accounting policie5 adopted are set out below. 1.2 Goln9 eon¢orn At the time ol approving the Ilnancial slatemenls. the Iruslees have a reasonable expectation that the charity has adequate resources to conlirkue in operational existence for the foreseeable future. Thus thè trust continue to adopt the going concem basis ol accounting in preparing the )Inancial statements. 1.3 Charitabl8 funds Unrestricted funds are availabl& use at the di$crelion of the trustees in fvrtherance of their charitable objectives. Restricted funds ale subjected to restrictions on their expenditure imposed by the donor or through the terms of the grant award. Endowment fvnds are subiecl to speafic conditions by donors that the capital rnusl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to il after any performance cOndonS have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are Tecognised on ceIpt. Other donations ar6 recognised once the charity has been notified of the donation, unless perfomance conditions require deferral of the arnounl. Income tax recoverable in Telalion to donations received under Gift Aid or deeds of covenant is tOnISed al the time of the donation. Legacies are reco9nised on receipt or otherwise rf the charity has been notified of an impending distribution, the amount is known, and rgceipt is expected. If the amount Is not known, the legacy is treated as a contingent asset. 1.5 Exp•ndltur8 Expenditure is recognised when a liabilily is incurred.
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Aeeountlng poll¢l (Continued) Charitablè activities include expenditure assoaated with research and strategic actiwty and indude both direfA and support costs relating lo these actiwties. Govèrnancè costs include Ih05e incurred in the governance of the charity and its assets and a primarily assoualed wrth con51((ulional and statutory requirements. Support costs include ¢enlTal functv)ns and have been allocated to the charitable activity on a basis )nsIstenI wrth their use. 1.6 Tangible fixed assets Tangible fixèd assèts are initially measured at C4)st and subsequently measured at wsl or valuation, nel of depre¢ialion and any impaimient losses. Depreciation is rè¢ognised 50 a5 to write off the cost or valuation of assets less their residual values over Ihelr useful lives on the following ba5es'. Wabsit8 33.33% straight line The gain or loss arisin9 on the disposal of an asset is delem7ed a5 the dffterence befvleen the sale prOedS and the carrying valuè of the a$$&t, and is re¢ognised in the slaternent of anCIal activiti. 1.7 Impairment of fixed assets Al each reporting end date, the charity remews the carying amounts of tts tangible assets lo delemiine whether there is any indication that those assets have suffered an impairment 105$. If any such indication exists, the recoverable amount of the asset is estimatèd in ordèr lo determine the extent of the impaimient loss lif any). 1.8 Qsh and cash equivalents Cash and cash equivalents Include cash in hand, deposits held at call wth banks, other short-term liquid investments with original malurrties of three months or less. and bank overdrafts. Bank overdr8fts are shown within borrowings in current liabilities. 1.9 Flnanclal Instrumènts The charity has elected lo apply the provisions of Seclion 1f 'Basi¢ Financial Inslrumen15' and Section 12 'Othef Financial Instruments Issues, of FRS 102 to all of tt$ financial Instrument5. Financial instrurnenls are recognised in the chadty's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilities are offset. with the nel amounts presented in the financial statem8nt$, when there is a lègally enforceable right lo sel off the recognised amounts and there is an intèntion to settl& on a nel basls or lo realbse the asset and settle the lia.1 sirnultaneously. Basic financial assets Basic financ*al assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently ¢amed al amortised cost using the effective interest rnethod unless the arrangement conslilules a financing transaction. where the transaction is measured at the present value ol the fkJtUTe re¢eip15 discounted al a market rate of interest. Financial assets dassified as receivablé within one yeat are not amortised.
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) R?R THE YEAR ENDED 31 DECEMBER 2025 Aeeountyng poli¢ieJ Icontinugdl Ba$1¢ flnan¢lal Ilabllllies Basic financral liabilrt"re5, induding creditors and bank loans are Inilialty recognised al tran5ath.on price unless thè arrangement conslilules a financing transaction, where the debt instrument is measured at the present value of the fulure payments discounted at a market rale of interest. Finanaal liabilities classifted as payablè within one year are not amortised. Debt instruments are subsequèntly carried at amortised cost. using the effective interest rate method. Trade creditors are oblig8lions lo pay for goods or services that havè a¢quired in the ordinary course of operations from suppliers. Amounts payable are dassified as Curn1 liabilities rf payment Is due within one year or lèss. If not. they are presented as non-current liabilitiès. Trade Creditors are recognised initially at transaction price and subsequently measured at amortised ¢ost Using the effectwe interest method. Derecognition of ffnancial liabilltles Finanixal liabilities are derecognised when tha etharity's Contractual otAigalions expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enliuamènt is COgniSed in the period in whh the employee's seNlc&s are reIVed. Temiination beneffts are recogni5ed irnmedialety as an expense wh&n the charty is d8monslr8EAy commrtted to teminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution relrremenl benefrt schemes are charged as an expense as they fall due. Critt¢al a¢¢ounting estimates and ludgemants In the application of the charity's accounting policies, the Iru51ees are required to make judgements, eslimale5 and assumptions abosjt thè carrying arnounl of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical èxperienoe and other factors that are con$itJered lo be relevant. Actual results may differ from the$& &slimales. The eslimales and underlying assumptions are reM6wed on an ongoing ba515. Revision5 to accounting eslim8les are recogni5ed in the period in which the estimate 15 revised where the revision affects only that period, or in the period ol the revigon and future period5 where the rewsion affects both currènt and futu periods. 10-
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charrtable activities Unrn5tri¢ted Restricted funds funds 2025 2026 Total Unrostrlctsd R8strSet•d funds funds 2024 2024 Totsl 2025 2024 ricket sal Sales 77 77 96 Grant Incom• Performance related grants 92.266 92,266 122,380 122,380 77 92,266 92,343 122,380 122,476 Expenditure on charitable activitigs Research and strdtegic activltlos 2025 Rgsearch and stratèglc actlvltias 2024 Dlr•¢t costs Staff costs Depreciation and impairment Fees Travel expenses Venue hire Other costs 29,307 4.383 24.710 3,172 2.549 157 26,402 4,383 23,213 4,205 3,723 1.500 64,278 63.426 Sharè of $upport and governance costs (see note 5) Support Governance 3,570 720 1,875 9C6 88.568 66,207 AnaTysl$ by fund Resln¢ted ftjnds 68,$68 6fj.207
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEPABER 2025 Support costs allocat•d to zetivitie¥ 2025 2024 3.570 720 1,875 906 Govern8n¢e c08ts 4,290 2.781 Analys•d between: Resèarch and slregi¢ aL#ivilies 4,290 2,781 Trust••$ During the year 3 trustees were paid f88s and travel expenses loiaNing £384 12024 4 were paid £441}. These payments were made at arms length consideration on normal commer¢ial terms. Employeès The average rnonthty number of employaes during Ihe year was.. 2025 Number 2024 Number Director Employmènt CO8ts 2025 2024 Wages and salaries Other pension costs 28,001 1,3C6 25,183 1.219 29,307 26,402 There were no employees whose annual rgmuner8lw)n wa5 more than £60.000. Remuneration of k•y management personnel The rernuneration of key management personnel 15 as follow5. 2025 2024 Aggregate compensalbon 29.307 28,102 T•xatlon The charity is exernpt from taxation on ils actimties because all its incomè is applied for ¢haritabJe purposes. 12
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Tangible fixed a8¥ets Wobslto Cost Al 1 January 2025 13.150 Al 31 December 2025 13,150 Depre¢latlon and Impolmient At 1 January 2025 DepreciatB)n charged in the year 4,950 4,383 At 3108cèmbar 2025 9,333 Carylng amount At 31 Dècember 2025 3,817 Al 31 December 2024 8,200 10 Debtors 2025 2024 Amounts falllng duo wlthln onè y8ar: Other debtors 33.954 65,980 11 Crèdltorn: amounts fallin9 du¢ within one y•ar 2025 2024 Other creditors Accruals and deferred income 1,837 4CX) 2.169 400 2.237 2,569 13-
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 12 R•#tricted fund¥ The restricted funds of the charity comprise the unexpended balances of don1nS and grants held on trust subject to specifL conditions by donors as to how they may be used. At 1 January 202S Incomlng r•soureès Rosoure expended At31 Oecember 2025 Creative Scotland Lottery Funding Open Fund Creative Scotland Targeted The8lre Progr8mme Creative Scotland Extended Programme Fund Queen Margarel University 13,880 90,816 113,880) 90,816 850 63,768 18501 {52,3881 11,4501 11.380 1,450 78.498 92.266 168,568) 102,196 Pr•vlou$ y•ar: At 1 January 2024 Incomlng rnsour¢ Rèsour¢e$ •xpended At31 December 2024 Creative Scotland Targeted Sector Development Creab"ve S¢olland Lottery Funding Open Fund Creative Scotland Tar9eted The8lre Programme Creative Scotland Extended Proglamme Fund 1.250 21.075 11,250) 121.075} 13.880 13,880 8.500 100,000 17.6501 {36,2321 850 63.768 22,325 122,380 166,2071 78,498 Creatlve Scolland Targeted Sector Developmont-Thoatrè Programme Ref No.. CS 22.03995 Total funding of £5000 towards the cost of an •v8nt lo connect indoor prograrnmer5 and outdoor a'st$l organisations. Creative Scotland Lottéry Funding from the Open Fund Ref No: CS 22.03812 Funding offered towards the cost of Ath"¢ulalion. Scotland's advocacy and Theork organisatson for physic81 perfoimance loutdoor arts, cir¢us and physical Ihealrel to deliver a programme including transitioning lo a member organisabon. developrnenl of a fit for purpose website, conducting a mapping èxercise to demonstrate the reach and impact of the of the sector and deliver an advocacy and communication strategy to increase profile and programming of the sector. Creative Scotland Targoted Thaatrè Programma Rgf No; CS-24054J5165 Funding offered towards the cost tsf supporting Articulation, Scotland's advocary and neOrk organisation for physical performance louldoor arts, circus and physical theatre) will Tun eventlsl to Connect ind(M)r programmers and outdoor artistsloryanisations. Cr¢3tsvo Scolland Extended Programme Fund Ref No: CS-EPF-23218 Funding for advocacy programme for Outdoor Arts, Circus and Phy5i¢al Perforrnance extended lo allow for delivery of the Beyond the Stage Parfiamenl Re¢epb'on and en8ble Articulation to host an Industry Aftemoon at Manipulate Festival. 14-
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 12 R•strlctsd fund$ Icontlnuodl Quèèn Mar9aret University Funding being a ¢xTrnliibulion towards additional research learn time and for the graphic design ol th8 B&yond the Stage sector report. 13 Unrgstrlct9d funds The unrestrictèd funds of the ¢h8rity comprise the unexpended balances of donations and grants which are not subject lo $pefyfi¢ ¢ondttions by donor5 and grantors as to how they may be used. These include de$i9naled fvnds whKh have been sel aside out of unrestricted funds by the trustees for specific purpos6S. Atl January 2025 Incoming re30urce> At31 December 2025 General funds 9,1)05 77 9,082 Provlous yaar. At 1 January 2024 Incoming resources At31 DeceMr 2024 General funds 8.9 9,005 14 AnJtysi8 of net as¥ets between funds Unrestrlcted fvnd¥ 2025 Restrlcted funds 2025 Totsl 2025 Fund balane•8 at 31 D•cgmb¢r 2025 are represented by: Tangible assets Current asse1511liabililies) 3.817 5.265 3,817 107,461 102.196 9,082 102,196 111,278 Unrèstrfet•d funds 2024 R•strlctsd funds 2024 Totsl 2024 Fund balan¢#s at 31 Oecernber 2024 are represented by: Tangible assets Current assetsllliabilities} 567 8,438 7.633 70,865 8,200 79,303 9,IXIS 78,498 87,503 15-
ARTICULATION ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 15 Relatsd party transaction¥ There wete no disclosable related party transactions during the year12024- none). 16-
ARTICULATION 2025 ACCS Final Audil Report 2026-05-29 2025-29 By.. David St8wartldawd.5tewart rndFJ.o)ml stabJ¥." si9d TransarlK)n ID.. CBJcMBCA4BA7RVb1MG8MQ¢pfqWMx1gNHaDJ0a "ARTICULATION 2025 ACCS" History Document created by David Stewart ldawd.stewart@mcfal.coml 20264-29- 11..07".44 AM GMT Documgnt emalled lo shid8y@communltycircus.co.uk for signature 2026-05-29- 11'.08'.08 AM GMT Email viewed by sh1rfey@communitycircus..uk 2026-0>29- 11..24..24 AM GMT h Signor shirley@communitycircus.co.uk entered name al signing as Shirfey Alexandar 20264>5-29- 11".31."47 AM GMT tho Document awsignad by Shirtay Mèxander 1shidgy@Mmunityclr¢us.CO.ukI snalure Dale.. 20264)&29. 11..31.'49Ak4 GMT- Tlmo &)urce.' server- SignatureAppearance Selectsd." DPAW 0 Agreement completed. 2026-05-29- 11..31."49 AM GMT IJ Adobe Acrobat Slgn