REGISTERED COMPANY NUMBER: 03162429 (England and Wales)

REGISTERED CHARITY NUMBER: 1053434

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Go Live Theatre Projects Ltd

Page

Reference and Administrative Details

1

Chairman's Report

2

Report of the Trustees

3

to

8

Independent Examiner's Report

9

Statement of Financial Activities

10

Balance Sheet

11

to

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

to

30

TRUSTEES

J Burke (resigned 16.6.25)

A J Clare (appointed 16.6.25)

Ms D Dixon

A J Herman

Ms Y L Jarvis

A L Kenwright

Ms E M Myers

C Prideaux

C A Siegel (resigned 17.3.25)

Ms A J Sullivan

T M C Tabor

Ms J Tuffee

R Williams OBE (resigned 16.6.25)

COMPANY SECRETARY

Ms S McIntosh

REGISTERED OFFICE

Fivefields

8-10 Grosvenor Gardens

London

SW1W 0DH

REGISTERED COMPANY NUMBER

03162429 (England and Wales)

REGISTERED CHARITY NUMBER

1053434

INDEPENDENT EXAMINER

Roy Pinnock & Co LLP

Chartered Certified Accountants

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

BANKERS

Royal Bank of Scotland PLC, 49 Charing

Cross, London SW1A 2DX

I'm pleased to introduce Go Live's annual report for the year ending August 31st 2025. This has been a successful and energising year for Go Live Theatre, marked by confident progress under our new Chief Executive, Sita McIntosh. With renewed leadership and clarity of purpose, the charity has strengthened its delivery of theatre education programmes and advanced its core mission: enabling children from disadvantaged backgrounds to experience the joy and inspiration of live theatre.

Our most important indicator of impact is powerful and simple. This year almost 13,000 children and young people attended a live performance through our programmes - an increase of almost 85% on the previous year. Behind this number sits the transformative potential of every single theatre experience, each one offering a moment of imagination, confidence and possibility.

We have also focused on positioning Go Live Theatre for its next chapter. A refreshed brand identity and a new website ensure that our look, feel and digital presence match the ambition and professionalism of our work.

The year ahead looks strong. Feedback from pupils and teachers on our education matinees continues to be exceptional, and our ambition grows in step with the increasing need for our work. While government discussions point toward giving the arts greater prominence in the curriculum, drama remains underserved-despite the well-documented benefits it brings to mental health, self-confidence and personal growth. Our programmes are therefore more important than ever. In response, we are planning to extend our work beyond London for the first time, widening access and deepening our national impact.

I am immensely grateful for the team's energy, creativity and determination, and for the Board's thoughtful engagement in guiding our mission. None of what we achieved this year would have been possible without the generosity of our supporters-corporations, individuals, trusts and foundations-whose contributions sustain and expand our work. My heartfelt thanks go to each and every one of them.

Finally, I remain as excited as ever about Go Live Theatre's mission. We know that it can take just one moment-one performance, one speech-to transform a life. Thank you for helping us create those moments.

Charles Prideaux

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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

What is Go Live Theatre Projects?

Go Live Theatre Projects is a charity that uses the power of theatre to create inspiring experiences and unlock possibilities for young people. We believe that all children and young people should have the opportunity to experience the life-enhancing benefits of seeing and participating in theatre. After all, just one performance can transform a life.

We aim to build the audiences and the workforces of the future by opening up access to live theatre, curating workshops and programmes that develop so-called soft skills including creativity, collaboration, empathy and confidence.

We also help the wider theatre industry, particularly the commercial sector, improve its education and access provision through consultancy and bespoke campaigns to schools and community groups.

We work with schools with a high percentage of students eligible for Free Schools meals (FSM), or with other indicators of disadvantage such as having English as an additional language (EAL) and/or special educational needs or disabilities.

During the financial year 2024/25, we took almost 13,000 children and young people to the theatre, an increase of 85% on the previous financial year.

Our headline programmes are:

Family First Nights - FFN makes London's theatre accessible to families on low incomes at just £10 a ticket. Families are referred by charities, community agencies, local authorities etc. ensuring that we reach the right people.

Education Matinees - all-school performances where we fill the auditorium with state school pupils with all tickets priced at £10 each. Last year up to 70% of the young people that enjoyed an Education Matinee with Go Live stepped foot inside a theatre for the first time.

Relaxed Performances - Go Live pioneered the first ever Relaxed Performance back in 2012 which was ground-breaking. These performances are carefully adapted to support neuro-divergent audience members, including those on the autism spectrum and individuals with sensory or communication needs.

Playmakers - Focussed on Primary schoolchildren, Playmakers develops creative writing skills, collaboration and confidence as 90 year six pupils watch a production of The Mousetrap and then working with specialist facilitators, create their own short murder-mystery plays that are then performed by West End actors on the St Martin's Theatre stage for them.

Public benefit

The Objectives and Activities and Achievement and Performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.

Trustees

The Trustees met four times during the financial year. Clifford Segal ended his tenure in March 2025 and Jonathan Sayer and Roy Williams ended theirs on 16 June 2025, the same day that Anthony Clare joined the board.

The Finance Sub-Committee also met four times a year with the Chief Executive and Development Director to review the budget, forecast and investments.

The Strategy Sub-Committee meets annually and that took place in October 2024 with the Chief Executive and Development Director to formulate and shape the strategy for growth for the financial year. The subsequent organisational re-structure was approved at that meeting.

Staff

2024/25 was a year of major transition for Go Live with the relatively recent arrival of the new CEO, Sita McIntosh and Development Director, Michael Berg (who both joined in September 2024).

A major restructure of the entire organisation was embarked upon with eight members of the team leaving via a mixture of voluntary and compulsory redundancies. The team has been rebuilt and streamlined reducing headcount from 13 to eight. The financial deficit for 2024/25 is due to the cost of restructuring.

ACHIEVEMENT AND PERFORMANCE

Fundraising

Go Live is registered with The Fundraising Regulator and is committed to follow the Code of Fundraising Practice. We use all moneys raised for the purposes stated in our charitable objects. We treat donors fairly, enable them to make informed decisions about any donation, do not take advantage of individuals in vulnerable circumstances and do not cause an unreasonable intrusion on a person's privacy.

We make Gift Aid claims only on donations where all Gift Aid conditions are met.

We ensure that all reporting requirements and conditions attached to donations are met in a timely fashion.

Where we enter into 'commercial participator' fundraising relationships, a contract is signed between Go Live and the company, stating the terms of the relationship.

There were no complaints registered regarding our fundraising.

We are hugely grateful to all our funders and donors for their vital role in giving theatre experiences and new opportunities to almost 13,000 children and young people this year.

FINANCIAL REVIEW

Financial Review

The financial position at the period end was considered satisfactory by the Trustees. During the year, Go Live Theatre received income totalling £687,040 (2024 - £1,075,042) a drop of £388,002 or 36%. A significant drop was always expected as 2023/24 was a "Gala Year" during which a major fundraising Gala took place generating almost £200K in revenue.

Expenditure totalled £789,042 (2024 - £1,098,254) a drop of £309,212 or 28%.

The net movement in funds for the year before gains on investments was a deficit of £99,347 (2024 - a deficit of £12,967). Of that, £91K was spent on the restructure of the charity.

After realised gains on investments of £2,655 (2024 - gain of £10,245), this resulted in total funds at 31 August 2025 of £356,570 (2024- £455,917).

Included in total funds is an amount of £169,237 which is restricted. Full details of these restricted funds can be found in note 18 to the financial statements, together with an analysis of movements during the year.

Funds representing the net book value of tangible fixed assets at 31 August 2025 stood at £13,780 (2024 -

£1,170) and therefore free reserves amounted to £173,553 (2024 - £281,427).

As such, free reserves at the year-end fell below the parameters stipulated by the Trustees in the reserves policy set out below. The Trustees are satisfied that there is no immediate concern as a result of this and their strategy for managing free reserves is detailed below.

Due to the substantial decrease in running costs, the stabilisation of the entirely new Development team and the retention of a Commercial Director to increase revenue generation, the Trustees have concluded that the charity remains a going concern.

Investment policy

The Trustees' investment powers are governed by its constitution which permits the funds available to be invested in a wide range of securities and assets. The overall financial objective is to at least maintain the real value of the sums invested, to generate a sustainable return to support charitable activities and to reduce inflation erosion. Investments are made in line with the full policy's ethical considerations. The charity aims to produce a stable return on investments with a minimum of risk. The performance of the investments is reviewed by the Finance Committee quarterly. The Investment Policy is reviewed every other year by the Trustees. The Trustees have agreed to maintain in our current account the minimum amount needed to cover expenses each month and for the remainder to be invested, primarily in short-term, low-risk instruments, given the improved risk-free interest rate return backdrop.

Reserves policy

Go Live Theatre Projects' general reserves represent funds of the charity that are freely available, excluding designated funds and restricted funds. In order to provide a quality, effective and efficient service to its beneficiaries, the Trustees have set a reserves level that in the event of funding not being sufficient to cover expenses in the future, a smooth transition can be made to a lower level of service. The reserves target is approximately six months of budgeted operating expenses, being £321,421 (2024 - £569,013). Free reserves, excluding fixed assets, at 31 August 2025 are £173,553 (2024 - £281,427).

The level of free reserves is still below the desired level of six months of budgeted operating expenses. The charity plans to address this by staging several fundraising events but more importantly plans to increase commercial activity in 2025/26 and beyond to shore up the unrestricted reserves and redress the 80/20 funding/revenue generation ratio in favour of more income generation.

FUTURE PLANS

The Strategy Sub-Committee of the charity (incorporating the Chair, selected Trustees and the Executive) met at the beginning of September 2025 to review and establish the Strategic Plan for 2025/26. The top five goals are:

1) Increase the number of children and young people we work with to 16,000 - representing an increase of 3,000 or 23%

Given the reduced headcount this year, an exponential increase of 85% in the number of children and young people we worked with is amazing but that level of growth is unlikely to be maintained for 2025/26 without ramping up staffing. Given that our short-term mission is to keep operational costs as low as possible as we bed in with an entirely new team, we have set that target at a more realistic 23%.

2) Take the work of Go Live Theatre national

For 28 years, Go Live Theatre has only worked in London's West End. We believe passionately in the importance of regional theatre - our CEO is Chair of Curve Theatre in Leicester - and or many children and young people, it's their first taste of live theatre. An immediate aim is to broaden our reach across the UK and 2025/26 will see the launch of our first programmes outside of the capital.

Additionally funders are increasingly looking to support work outside of London which is perhaps a reflection of Arts Council England's similar stance. We believe that Go Live Theatre has proven, successful programmes that can easily be replicated in local theatres and we are perfectly placed to provide these to any venues that would like to work with us.

3) Streamline the number of programmes offered and provide deeper data on the impact of our work

This year we have already reduced the number of programmes that Go Live Theatre offers from 27 to 17 (whilst still increasing our reach) as want to focus on quality rather than quantity so short-term programmes with minimal impact have been paused. We intend to broaden and deepen our long-term impact and provide robust data to funders demonstrating that, so will also change our reporting procedures.

4) Increase our Development activities to include Legacy Giving and more HNWI

Many Trusts and Foundations are closing/winding up and the competition for decreasing funds is ever more intense so we need to expand our fundraising efforts to keep the charity viable and continue our work. Our Development Team will undergo training to launch a Legacy Giving campaign in 2025/26 and we will set up a Development Sub-Committee with external participants who will hopefully help us expand our network of HNWI through personal contacts and introductions.

A successful T&F application has enabled us to invest in a market leading CRM system, Beacon CRM (rated #1 by Fundraising Magazine) which we intend to use to streamline, simplify and develop our fundraising efforts.

5) Move the dial from 80:20 funded/earned income to 70:30 to improve our financial resilience

We have identified a number of income-generating initiatives for 2025/26 designed to increase our earned revenue, for example a series of specially curated events that we hope will raise our profile within the UK theatre industry, increase our reach into non-supporters and raise much needed funds. A modest target of £10,000 has been set for the coming financial year as we step tentatively into this new sphere of activity with limited resources

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Go Live Theatre Projects is a registered charity and a company limited by guarantee, registered in England and Wales, and governed by a Memorandum and Articles of Association. In the event of the company being wound up the maximum amount which each Trustee (Director) is liable to contribute is £10.

Governance & Management

The governance of the charitable company is the responsibility of the Trustees (also known as Directors) who are elected and co-opted under the terms of the Articles of Association. None of the Trustees has any beneficial interest in the company. The Trustees of the charitable company (the charity) are its Directors for the purpose of company law and throughout this report are collectively referred to as the Trustees.

The Trustees who served during the period and on the date the report was approved are listed on page 1.

Recruitment, Induction & Training of Trustees

Go Live Theatre Projects selects Trustees with a range of relevant skills, knowledge, experience and backgrounds to achieve the effective oversight and support of the charity.

The Charity identifies potential new Trustees, interviews candidates and makes recommendations to the full Board. After interview and approval by the Nomination Committee, candidates are invited to observe a Board meeting. The Board must approve the new appointment by ordinary resolution or by a decision of the Trustees.

The Chief Executive meets with new trustees to give a more in-depth understanding of the charity's activities and provides an information pack. Trustees are encouraged to see Go Live Theatre Projects "in action" by attending programmes and events and join a Board subcommittee or working group.

Structure & Decision-making

The charity's employees manage Go Live Theatre Projects' programming under the supervision of the Chief Executive, without the need to refer to the Board for day-to-day day decisions and operations. Decisions of greater importance and impact are referred to the Board at meetings, or in-between times to the Chair.

One Trustee, Yvette Jarvis is designated as the Board's Safeguarding Lead.

In between board meetings, the Chief Executive and Development Director maintain frequent contact with the Chair and all Trustees.

Key Management Personnel & Pay

The Trustees consider that they, together with the Chief Executive, the Development Director and Commercial Director comprise the key management personnel in charge of directing and controlling, running and operating the charity on a day-to-day basis. Staff pay is reviewed annually with pay rises given with reference to industry standards, workload, quality of work and length of service. The overall salary budget is approved by the Finance Committee as part of the budgeting process. The Chief Executive's salary is set by the Chair.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Go Live Theatre Projects Ltd for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 15 May 2026 and signed on its behalf by:

C Prideaux - Trustee

Independent examiner's report to the trustees of Go Live Theatre Projects Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Natalie Coleman FCCA (Senior Statutory Auditor)

Roy Pinnock & Co LLP

Chartered Certified Accountants

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

18 May 2026

31.8.25

31.8.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

229,003

373,317

602,320

693,573

Charitable activities

5

Theatregoing

-

-

-

136,861

Creative Skills

-

-

-

10,643

Fundraising

-

-

-

217,592

Personal Development

-

-

-

4,971

Programmes

46,843

20,929

67,772

-

Other trading activities

3

14,194

-

14,194

-

Investment income

4

2,754

-

2,754

11,402

Total

292,794

394,246

687,040

1,075,042

EXPENDITURE ON

Raising funds

6

166,267

46,893

213,160

299,644

Charitable activities

7

Theatregoing

-

-

-

373,109

Creative Skills

-

-

-

172,690

Personal Development

-

-

-

207,825

Programmes

217,287

351,436

568,723

-

Other

7,159

-

7,159

44,986

Total

390,713

398,329

789,042

1,098,254

Net gains on investments

2,655

-

2,655

10,245

NET INCOME/(EXPENDITURE)

(95,264

)

(4,083

)

(99,347

)

(12,967

)

RECONCILIATION OF FUNDS

Total funds brought forward

282,597

173,320

455,917

468,884

TOTAL FUNDS CARRIED FORWARD

187,333

169,237

356,570

455,917

31.8.25

31.8.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

13

13,780

-

13,780

1,170

Investments

14

203,433

-

203,433

353,512

217,213

-

217,213

354,682

CURRENT ASSETS

Debtors

15

105,381

-

105,381

61,945

Cash at bank

(90,387

)

169,237

78,850

105,254

14,994

169,237

184,231

167,199

CREDITORS

Amounts falling due within one year

16

(44,874

)

-

(44,874

)

(65,964

)

NET CURRENT ASSETS

(29,880

)

169,237

139,357

101,235

TOTAL ASSETS LESS CURRENT LIABILITIES

187,333

169,237

356,570

455,917

NET ASSETS

187,333

169,237

356,570

455,917

FUNDS

18

Unrestricted funds

187,333

282,597

Restricted funds

169,237

173,320

TOTAL FUNDS

356,570

455,917

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 15 May 2026 and were signed on its behalf by:

C Prideaux - Trustee

Cash flows from operating activities

Cash generated from operations

1

(162,474

)

6,985

Interest paid

(3,581

)

(251

)

Finance costs paid

-

(6,353

)

Net cash (used in)/provided by operating activities

(166,055

)

381

Cash flows from investing activities

Purchase of tangible fixed assets

(13,548

)

(1,276

)

Purchase of fixed asset investments

(22,266

)

(489,732

)

Sale of fixed asset investments

175,001

466,255

Interest received

464

-

Dividends received

-

1,969

Net cash provided by/(used in) investing activities

139,651

(22,784

)

Change in cash and cash equivalents in the reporting period

(26,404

)

(22,403

)

Cash and cash equivalents at the beginning of the reporting period

105,254

127,657

Cash and cash equivalents at the end of the reporting period

78,850

105,254

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.8.25

31.8.24

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(99,347

)

(12,967

)

Adjustments for:

Depreciation charges

937

12,022

Gain on investments

(2,655

)

(10,245

)

Interest received

(464

)

-

Interest paid

3,581

251

Finance costs

-

6,353

Dividends received

-

(1,969

)

Increase in debtors

(43,436

)

(4,363

)

(Decrease)/increase in creditors

(21,090

)

17,903

Net cash (used in)/provided by operations

(162,474

)

6,985

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24

Cash flow

At 31.8.25

£

£

£

Net cash

Cash at bank

105,254

(26,404

)

78,850

105,254

(26,404

)

78,850

Total

105,254

(26,404

)

78,850

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates.

The areas in the financial statements where these judgements and estimates have been made include:

- the allocation of support costs;

- the estimation of the useful economic life of tangible fixed assets; and

- the estimation of future income and expenditure for the purpose of assessing going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income comprises donations, grants, receipts from charitable activities (including discounted ticket sales, programme fees and workshop fees), rental income, and income from fundraising events such as gala evenings.

Donations received under Gift Aid, including Theatre Guardians' donations, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Grants have been included as income from charitable activities where these amount to a contract for services, but as donations where the money is given in response to an appeal or with greater freedom of use, for example monies for core funding.

Income from the sale of discounted theatre tickets is recognised on the date of the performance to which the tickets relate.

Fees receivable for programmes and workshops are recognised on the date the workshop or programme event occurs.

Studio rental income is recognised on the provision of the rental space.

Ticket and auction income from galas and fundraising events is recognised on the date the event takes place.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings as described below. The classification between activities is as follows:

Expenditure on raising funds includes all expenditure associated with raising funds for the charity. This includes staff costs associated with fundraising (including time spent by the director on fundraising activities) and the rental of the third floor studio, all direct costs associated with fundraising and allocated support costs.

Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charity through the provision of its charitable activities. These costs include all expenditure directly attributable to programmes, such as directly attributable staff costs, the cost of workshop practitioners and the cost of theatre tickets, as well as allocated support costs.

Allocation and apportionment of costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity, it is necessary to provide support in the form of personnel development, financial procedures, PR and marketing, provision of office services and equipment, and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including independent examination/ audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs and governance costs are apportioned based on the ratio of time spent working on the charity's various programmes by staff.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

During the year, the charity changed its depreciation method for computer equipment from reducing balance method to the straight line method. This change in estimate was applied prospectively and has no significant effect on profit/loss and financial statements.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Contributions to the personal pension schemes of the charity's employees and the charity's defined contribution employer pension scheme are charged to the statement of financial activities when they are payable to the scheme. The charity's contributions are restricted to the contributions disclosed in the staff costs note. The charity has no liability beyond making its contributions and paying across the deductions for

the employees' contributions.

The assets of the schemes are held separately from those of the company in independently administered funds

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

Free reserves, excluding fixed assets, at 31 August 2025 stood at £173,553 (2024 - £281,427 which is below the desired level of six months of budgeted operating expenses. The charity's aim is to build its free reserves back up over a 5-year period.

For 2025/26 we plan to focus on generating more unrestricted income streams and expanding our fundraising initiatives. In the light of this and the healthy amount of funds held, the Trustees have concluded that the charity is not in any financial jeopardy, remains a going concern and will have sufficient resources to meet its liabilities as they fall due.

Gifts in kind

Substantial contributions are made to the charity by theatres and producers through the supply of tickets at a discounted price. The fair value of a ticket is considered to be the average open market price, which will not necessarily equate to the ticket's face value and is impossible to reliably estimate due to the variety of ticket vendors in operation. As such, the discount to the charity from the fair value of the tickets cannot be reliably estimated and is not included within income as a gift in kind in the statement of financial activities.

Many items generously donated to the Charity to be auctioned at fundraising events include a 'money- can't-buy element' such as meeting the cast of a show, and therefore no commercial value has been placed on these gifts in kind in the financial statements.

Services provided by volunteers

For the purposes of these financial statements, no value has been placed on administrative and other services provided by volunteers in accordance with the Charities SORP FRS 102.

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised and unrealised gains (or losses) are credited (or debited) to the statement of financial activities in the year in which they arise.

The charity does not acquire put options, derivatives or other complex financial instruments.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains (or losses) are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities within particular sectors or sub sectors.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund structure

Unrestricted general funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects at the discretion of the Trustees.

Restricted funds comprise monies raised for or restricted by donor imposed conditions for a specific purpose.

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the term of the lease.

2.	DONATIONS AND LEGACIES

31.8.25

31.8.24

£

£

Donations

140,844

227,454

Gift aid

6,161

-

Grants

455,315

466,119

602,320

693,573

1.Donations

Unrestricted

Restricted

Total Funds

Funds

Funds

2025

£

£

£

Raise your Hands

17,400

17,400

Anonymous donations

52,000

52,000

Donations < £5,000 and Gift Aid

77,603

77,603

Total funds

147,003

0

147,003

Donations

Unrestricted

Restricted

Total Funds

Funds

Funds

2024

£

£

£

Individual donors

73,026

73,026

Raise Your Hands

32,323

32,323

The Childhood Trust

25,000

25,000

Almacantar Ltd

10,000

10,000

Anonymous donations

58,919

10,000

68,919

Todaytix Group

14,984

3,200

18,184

Total funds

214,252

13,200

227,452

2.Grants Receivable

Unrestricted

Restricted

Total Funds

Funds

Funds

2025

£

£

£

The Garek Trust

20,000

110,000

130,000

John Lyon's Charity

58,500

58,500

Lehman Brothers Foundation Europe

55,000

55,000

The Childhood Trust

32,500

32,500

The Colwinston Charitable Trust

25,000

25,000

Wates Foundation

15,000

15,000

The PWC Foundation

15,000

15,000

Brown Rudnick

8,758

8,758

The Noel Coward Foundation

5,000

5,000

Anonymous Grants

10,000

78,442

88,442

Other grants < £5000

4,500

17,617

22,117

Total Funds

82,000

373,317

455,317

Grants Receivable

Unrestricted

Restricted

Total Funds

Funds

Funds

2024

£

£

£

Lehman Brothers Foundation Europe

83,000

83,000

The Garek Trust

77,000

77,000

John Lyon's Charity

61,500

61,500

The Childhood Trust

25,000

25,000

The Colwinston Charitable Trust

25,000

25,000

Ovingdean Hall Foundation

10,000

10,000

Brown Rudnick Charitable Foundation Corp.

8,371

8,371

Noel Coward Foundation

5,000

5,000