Cha￿ty 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 (c￿chair 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.
Art￿￿lation 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
& Ne￿Ork '.
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 $e¢tor issues. irnpacls and needs, in order to inform
and shape sector development . We have worked together strategically with OUT partners, sharing best practi
and a wealth of knowledge, skills and experience.The Art￿UlatIon Membership ne￿Ork is currently free of charge
and is lor everyone involved in ciieus, outdoors arts or 5pectade in Scotland. The membership has grown to over
100 and we continue lo engage with the sector, enhance our member offer and grow our membership.
Our monthly n￿sletter remains an Important means of cornrnunication with our broadèr sector network and
subscnber numbers remain 51e8dy. with the most recent neW$￿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 br￿g 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 c￿￿tiVe, cultural and lingthstic diffèrnn¢es, ouei$tioning how these arp
ov8rco)me, ¢018br4t8d and ernbra￿d and how these infomj Ih8 ¢￿￿￿.Ve process of intemafv'onal
¢oireation. 5th AUG 2025
2. Articulation
Fringe Fair .' ArticUlat￿n was ffnvolvgd in x2 sessions, these infom7al, drop-in
sessions were an opporturrity for individual$ 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. Inv￿Vernent in and attÈndancÈ at a series of events
throughout tha year induded
Equity In Action- The Power ofDiverse Na￿al￿veS 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 NetW￿king E￿￿1$
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 fiF5t*ver 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 Tar￿98 Inlemallonal SlreetArts Festhv81 in Spain.
Financial review
All grants received in year*nd 2025 werè awarded lor $pecifi¢ projed delivery 8rtd as suth are das5ffied as
restricted income, including..
1) Cr8atlV8 Seotland Lottéry Funding Open Fund first inslallmenll £68.112 - 75¢A of the total grant award ) was
re¢e*vefl in October 2025 for delivery in 2026r27.
21 Creative Scotland Extended Progfr7mme Fund activtty timeline was extended lo allow for dek'very of the
Beyond the Stagg Parliament Reception in January 2028 and lo enable Articulation lo host an Industry AfteTnoon
at Manipulate Festival on 9th February 2026. End of piojed reporting 15 due mid-M8y 2026 and the final
inslalment of £10,000 is due upon receipt and approval of the end of project monltorfng ￿￿rt.
Th6 Qu8&n MargaftE)t Univotsity funding was 8 ¢ontribulion towards addrtional research team fy'rne and for the
graphic design oflhe 8eyond the Stag& sector report which was fully expended by December 2025.
The majority olArticulalion's funding is restricted and musl be spent as per tems of funding agre&mant,'Ihèrèlorè
our reserves are low at equivalent lo approximately three months expenditure . This is mitigated by the fart that
the Company continues to have very fèw core costs as it is currentty rent-freè and employs one part lime
member of staff on a I￿ed tem) part-time contiact. Thè afrm is lo in¢r$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 be￿een Ihrèe and six month's expenditure. The Iruslees consider Ihal
re￿Ne$ 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 wh￿h 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 s8￿d 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. wh￿h 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 èxamine￿8 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 p￿pare 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 balan￿5 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 De￿mber 2025.
The directors acknowledgè th￿r 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 cOnd￿onS 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 ￿tO￿nISed 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 delem7￿ed a5 the dffterence befvleen the sale prO￿edS
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$1¢ flnan¢lal Ilabllllies
Basic financral liabilrt"re5, induding creditors and bank loans are Inilialty recognised al tran5ath.on price unless
thè arrangement conslilules a financing transaction, where the debt instrument is measured at the present
value of the fulure payments discounted at a market rale of interest. Finanaal liabilities classifted as payablè
within one year are not amortised.
Debt instruments are subsequèntly carried at amortised cost. using the effective interest rate method.
Trade creditors are oblig8lions lo pay for goods or services that havè a¢quired in the ordinary course of
operations from suppliers. Amounts payable are dassified as Cur￿n1 liabilities rf payment Is due within one
year or lèss. If not. they are presented as non-current liabilitiès. Trade Creditors are recognised initially at
transaction price and subsequently measured at amortised ¢ost Using the effectwe interest method.
Derecognition of ffnancial liabilltles
Finanixal liabilities are derecognised when tha etharity's Contractual otAigalions expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday enliuamènt is ￿COgniSed in the period in wh￿h the employee's seNlc&s are
re￿IVed.
Temiination beneffts are recogni5ed irnmedialety as an expense wh&n the charty is d8monslr8EAy commrtted
to teminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution relrremenl benefrt schemes are charged as an expense as they fall due.
Critt¢al a¢¢ounting estimates and ludgemants
In the application of the charity's accounting policies, the Iru51ees are required to make judgements, eslimale5
and assumptions abosjt thè carrying arnounl of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical èxperienoe and other factors that
are con$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 slr*egi¢ 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 don1￿nS 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 The￿ork 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 ne￿Ork 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
DeceM￿r
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
202￿5-29
By..
David St8wartldawd.5tewart
rndFJ.o)ml
stabJ¥."
si9￿d
TransarlK)n ID..
CBJcMBCA4BA￿7RVb1MG8MQ¢pfqWMx1gNHaD￿J0a
"ARTICULATION 2025 ACCS" History
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