Charity number SC047792 ## The Polar bears SCIO ## REPORTS AND ACCOUNTS 31 OCTOBER 2024 ## Contents Report to the Trustees for the Year Ended 31 October 2024 ............................................... 2 The Polar Bears SCIO Charity Statement of Financial Activities 31 October 2024 ........... 6 The Polar Bears SCIO Balance Sheet 31 October 2024 ...................................................... 7 Notes to The Financial Statement at 31 October 2024 ........................................................ 8 ## **Report to the Trustees for the Year Ended 31 October 2024** The trustees are pleased to present their annual report together with the consolidated financial statements of the charity for the year ending 31 October 2024 The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Note the Trustees have not received any compensation for carrying out their duties as trustees. ## **Our Purpose and Activities** The charitable purposes of the Charity are - To advance the arts and culture, particularly by creating high quality professional performances for children. - To advance education in the arts, through creativity-based educational workshops. - To promote equality and diversity through the arts. ## **Plans for future Periods** The amended constitution reflecting the new name will be submitted to OSCR along with the Trustees approval as signed by . Social media will be changed to reflect the new name of the charity and a new website encompassing the charity’s previous work will be constructed. Plans are underway to adapt a children’s book, The Runaway Pea, with a view to making and touring the production in 2026/27. ## **Activities, Achievements and performance** The main activities of the charity were: ## **Touring in China** - The Polar Bears Go Up performed a two week run in November 2023 in Suzhou, via our promoter, the Art Space for Kids (ASK) - Undergoing a period of organisational development, identifying aims, artistic ideas and purpose. It has been identified that the name of the charity has proved to be a barrier for the core creative team, in all productions being “The Polar Bears” and that changing the name so that all creative endeavours can be undertaken under this organisation would allow for greater creative freedom. The name Bear Hug has been chosen, as a connection to the previous name and activity of the charity. The change has been requested and approved with OSCR. ## **FINANCIAL REVIEW** ## **Going concern** At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least the next twelve months. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is a Scottish Charitable Incorporated Organisation ## **REFERENCE AND ADMINISTRATIVE DETAILS** Registered Charity number SC047792 ## **Registered office** Studio F43, Out of the Blue, 36 Dalmeny Street Edinburgh EH6 8RG ## **Contact telephone number** 07947 259 868 ## **Email** info@thepolarbears.org ## **Website** thepolarbears.org ## **Social media** instagram.com/polarbearstheatre twitter.com/polarbearsgoup facebook.com/PolarBearsTheatre ## **Trustees** ## **Independent examiner** Lacey Accounting Havjllg sat15fiedm)￿If￿t the of & Cknity areThrt reqWnXlto￿ thPart 16 ofthe 21A)6Act It￿Hre bythe cI￿lty Cottu]￿onUder Sects(￿￿ 14515)Ibl of the2011 Att. I confirni that l qualified tts un(lertakethe examination beca1￿e l am a rt8lsle￿d meMber0fb￿ri￿Iit of FiJJallci21 Accountanrs u'bicb xs one of lisied FKMlies I hai'e coJw)Ided xny exatllinarion. I cot)finn that no n]atters have come io ory attention in coone£tionMth the exatDinaiion nie caiise to beheve: l. ae¢ountiri8 record5 wert llotkept iti rew of theCouwanya5 T4uNed by ￿l￿tt 386 of the 2(*)6Aei,' or 2. the ac¢ountsdow ac¢ordwththose tttords: 3. the 8c¢owit$donot ￿r￿plyWlth th¢ ofs¢rticffl 396 of the 2￿6Act0th¢[ than Bny reqiiirement that the accounts 8ii'e a tNe and laiT iiew Ththich is Dot a matter considered as part of a indepthdeni examination.. or 4. the a¢counts hai'e not been prwred in x¢wdan¢¢ the meth(Kts and PTin¢iplw of the Statement of RttonJJnended Practice for aecountin8 and reportln8 by c1￿111e5 lapphcable 10 c]witie5 prepanll8 their acco1￿1$ in accordance with the FiDaJKial Reportin8 Siandard applicable ID the UK atKI Republic of IRland (FRS 102)]. I haie no ¢on¢ems and hai'e con)e across no other miners in Connection￿1th the examin81ion 10 which affentson shoiild be A in Ihi4 TI 1P f*T￿r ￿￿ble a PToper wthrsianthn8 of Ihe ac£oullts to ￿ reached 0110712025 ## **The Polar Bears SCIO Charity Statement of Financial Activities 31 October 2024** The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. ## **The Polar Bears SCIO Balance Sheet 31 October 2024** The trustees have prepared group accounts in accordance with section 44 of the Charities and Trustee Investment (Scotland) Act 2005. These accounts are for circulation to members of the company. The notes at pages 16 to 32 form part of these accounts > Signed 04/07/25 Name Chair of trustees on behalf of the trustees Approved by the trustees on ## Notes to The Financial Statement at 31 October 2024 ## 1. Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: - a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Arts Theatre Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). - b) Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. - c) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Trust’s work or for specific artistic projects being undertaken by the Trust. - d) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. - e) Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. - f) Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |2
Income
0
Total Income from Grants
3
Income
Box officeincome
Fees
Royaltyincome
Total Income from operating Activities
4
Creative andProductionFees
StaffTraining
Travel-National
Royalties
TotalExpenditure on CharitableActivities
5
Audit&Accountancyfees
Storage
IT Software and Consumables
GeneralExpenses
TotalExpenditure on OperatingActivities|Unrestricted
£
Restricted
£
Total 2024
£
Total 2023
£7,262.00| |---|---| ||£
£
£
£7,262.00
Unrestricted
Restricted
Total 2024
Total 2023
£
£
£
£
117.32
£ 4,300.00£
£4,300.00
£8,850.00
£
£
£
£
65.86| ||£ 4,300.00£
£ 4,300.00
£ 9,033.18
Unrestricted
Restricted
**Total 2024**
Total**2023**
£ 2,150.00£
£ 2,150.00
£ 4,740.00
£
68.00£
£
68.00
£
81.32
£
36.70£
£
36.70
£
227.60
£
£
90.00 £
90.00
£ 2,122.97
£ 2,254.70£
90.00£ 2,344.70
£ 7,171.89
Unrestricted
Restricted
Total**2024**
Total 2023
£
595.00 £
£
595.00
£
552.50
£1,500.00£
£1,500.00
£ 1,560.00
£
106.00 £
£
106.00
£
112.00
£
55.00£
£
55.00
£1,833.76
£ 2,256.00 £
£ 2,256.00
£ 4,058.26| ll