Charity Registration No. SC029613
Company Registration No. SC200854 (Scotland)
BADAC THEATRE COMPANY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
BADAC THEATRE COMPANY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
M Hosking
S Lambert
A Nairn
M Robb
T Cooper
Secretary
M Hosking
Charity number
SC029613
Company number
SC200854
Principal address
6 Hornbeam House
Hornbeam Road
Buckhurst Hill
Essex
IG9 6JU
Registered office
McFadden Associates Limited
19 Rutland Square
Edinburgh
EH1 2BB
Independent examiner
McFadden Associates Limited
19 Rutland Square
Edinburgh
EH1 2BB
BADAC THEATRE COMPANY LIMITED
CONTENTS
Page
Directors' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 10
BADAC THEATRE COMPANY LIMITED
DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -

The directors present their report and financial statements for the year ended 31 October 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's memorandum and articles, the Companies Act 2006 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) (effective 1 January 2019)".

Objectives and activities

The main objectives set out by the company at the beginning of the year were as follows;

 

1. Finish the filming and editing of ‘ A Sea of Trees’, a short film that explores male suicide

2. Submit ‘A Sea of Trees’ to selected short film festivals

3. Find funding/project partners and begin arts council funding application for ‘What Do We Dream at Ninety Two’ a project that explores the lives and experiences of adult carers

4. Explore ideas for a new theatre/short film/photography human rights project

5. Continuation of the company’s Holocaust awareness work via performances of our play ‘Ashes to Ashes’ and the education workshops/talks that accompany the piece

The company achieved the set objectives for the year as follows:

 

The filming and editing of the ‘Sea of Trees’ film project was completed and the film was submitted to a total of thirteen festivals. Although not accepted into the festivals the feedback on the film was extremely positive from those who did see it and a number of industry professionals have encouraged us to continue to submit it in the future. The company considers the project as hugely beneficial in opening up new creative avenues and allowing company members the opportunity to develop new skills that can be utilised in all future company projects.

 

The company secured venue partnerships for its theatre project focusing on adult carers ‘What Do We Dream at Ninety Two’. Both Norwich Arts Centre and Colchester Arts Centre have pledged financial support for the Research and Development of the project along with offering rehearsal and performance spaces to the company when required. An application for funding from the Arts Council has also been undertaken and will be submitted in 2025.

 

Both previous and new artistic partners have been approached for ideas on a new human rights project. As yet a specific subject matter on which to focus has not been decided on but the project will involve theatre, film and photography in its development and performance and will tackle a current human rights issue. Further ideas will be explored in 2025.

 

Ashes to Ashes, the company’s Holocaust piece, was performed during the year, however performances were still limited due to our school partners rethinking their booking of ‘live’ performances. This is a knock on from Covid where students were granted access to theatre via online resources and the school authorities used facilities for other school purposes. The company will continue to market the piece in 2024 with a view to creating new touring opportunities.

Achievements and performance

Our short film project ‘A Sea of Trees’ has been seen by selected audiences (including current/past artistic partners and other filmmakers) with the feedback being extremely positive and by short film festival committees both in the UK and abroad

 

The company did one performance of its Holocaust piece Ashes to Ashes, along with post show discussion and student workshops, and will look to arrange more school and theatre visits during the upcoming year.

Financial review

The income for the organization this year came from the performance of ‘Ashes to Ashes’ (including post show discussion and student workshops) and loans to the company from Steve Lambert. These were amounts to cover, along with existing company funds, the general day to day running of the company.

BADAC THEATRE COMPANY LIMITED
DIRECTORS' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The directors considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised.

The directors have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management
The Charity is a company limited by guarantee.

The directors who served during the year and up to the date of signature of the financial statements were:

M Hosking
S Lambert
A Nairn
M Robb
T Cooper

The board of the organisation consists of five directors. The recruitment & appointment of these directors is based upon the skills and knowledge they can bring to the organisation from both a business and management perspective and also from an artistic perspective.

 

Three of the directors are appointed on the basis of their experience in all aspects of business management. This includes experience in the running of their own companies, working for other companies, accounting experience and the managing of specific projects.

The remaining two directors will be appointed on an artistic basis for their knowledge, training and experience in mainly the theatre but also other artistic disciplines.

 

The board will always work on the basis of 3 to 2 in favour of management members over artistic members.

None of the board of directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up.

Decisions on which artistic and educational projects to undertake are taken by the trustees on a majority basis, at least 3 to 2 in favour, and are put to the trustees by Steve Lambert. They will decide on the financial viability of a project, which festivals and venues to aim the work at and which other organisations and charities to approach for support in the development of the projects.

 

Day to day management of the organisation includes payment of standard bills, general correspondence, planning of future projects, the design and sending of show packs for touring purposes, design of publicity materials, contacting and speaking with other organisations including theatres, arts council departments and other charities regarding future work and funding.

 

The chief officer who manages day to day running of the charity is Steve Lambert.

The directors' report was approved by the Board of Directors.

S Lambert
Director
Dated: 22 July 2025
BADAC THEATRE COMPANY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF BADAC THEATRE COMPANY LIMITED
- 3 -

I report on the financial statements of the Charity for the year ended 31 October 2024, which are set out on pages 4 to 10.

Respective responsibilities of directors and examiner

The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, and they consider that the audit requirementof Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section44(1)(c) of the Act and to state whether particular matters have come to our attention.

Basis of independent examiner's report

My examination was carried out in accordance with the Statement of Standards for Reporting Accountants and Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44 (1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare accounts which accord with the accounting records and comply with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;

 

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

David Stewart CA
19 Rutland Square
Edinburgh
EH1 2BB
Dated: 22 July 2025
BADAC THEATRE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Charitable activities
3
1,300
2,550
Expenditure on:
Charitable activities
4
2,605
2,596
Net expenditure for the year/
Net movement in funds
(1,305)
(46)
Fund balances at 1 November 2023
(7,034)
(6,988)
Fund balances at 31 October 2024
(8,339)
(7,034)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BADAC THEATRE COMPANY LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
4
4
Creditors: amounts falling due within one year
9
(5,565)
(3,587)
Net current liabilities
(5,561)
(3,583)
Creditors: amounts falling due after more than one year
10
(2,778)
(3,451)
Net liabilities
(8,339)
(7,034)
Income funds
Unrestricted funds
(8,339)
(7,034)
(8,339)
(7,034)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2024.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Directors on 22 July 2025
S Lambert
Trustee
Company Registration No. SC200854
BADAC THEATRE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
1
Accounting policies
Company information

Badac Theatre Company Limited is a private company limited by guarantee incorporated in Scotland. The registered office is McFadden Associates Limited, 19 Rutland Square, Edinburgh, EH1 2BB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006 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) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Incoming resources
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Resources expended
BADAC THEATRE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 7 -

Expenditure is recognised when a liability is incurred.

 

Charitable activities include expenditure associated with the staging of productions and include both direct and support costs relating to these activities.

 

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

 

Support costs include central functions and have been allocated to the charitable activity on a basis consistent with their use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line
1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

BADAC THEATRE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 8 -
1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Charitable activities

Theatre Productions

2023
£
£
Ticket income and workshops
1,300
2,550
Analysis by fund
Unrestricted funds
1,300
For the year ended 31 October 2023
Unrestricted funds
2,550
2,550
BADAC THEATRE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 9 -
4
Charitable activities
Theatre Productions
Theatre Productions
2024
2023
£
£

Travelling and accommodation

351
610

Artists' fees

700
840

Food, production and tour costs

597
284
1,648
1,734
Share of support costs (see note 5)
717
622
Share of governance costs (see note 5)
240
240
2,605
2,596
5
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£

Postage and stationery

17
-
17
11
-
11

Sundry expenses

192
-
192
163
-
163

Bank charges

508
-
508
448
-
448
Accountancy
-
240
240
-
240
240
717
240
957
622
240
862
Analysed between
Charitable activities
717
240
957
622
240
862

 

6
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
7
Employees
There were no employees during the year.
BADAC THEATRE COMPANY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 10 -
8
Loans and overdrafts
2024
2023
£
£
Bank loans
2,778
3,451
Directors' loans
4,558
2,878
7,336
6,329
Payable within one year
4,558
2,878
Payable after one year
2,778
3,451
9
Creditors: amounts falling due within one year
2024
2023
£
£
Borrowings
4,558
2,878
Other creditors
767
709
Accruals and deferred income
240
-
0
5,565
3,587
10
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
8
2,778
3,451
11
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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