REGISTERED COMPANY NUMBER: 02966897 (England and Wales)

REGISTERED CHARITY NUMBER: 1134077

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

THEATRE ABSOLUTE LIMITED

Page

Report of the Trustees

1

Independent Examiner's Report

2

Statement of Financial Activities

3

Balance Sheet

4

to

5

Notes to the Financial Statements

6

to

11

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 March 2026. 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).

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02966897 (England and Wales)

Registered Charity number

1134077

Registered office

59 Oldfield Road

Chapelfields

Coventry

CV5 8FU

Trustees

Ms B E Kiddie Director

Professor J Neelands Director

J S Patel Director

Ms M J Smith Director

Ms F I Swann Director

P C Walters Director

Independent Examiner

HB&O Ltd

Chartered Accountants

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

Approved by order of the board of trustees on 13 May 2026 and signed on its behalf by:

Ms F I Swann - Trustee

Independent examiner's report to the trustees of Theatre Absolute Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2026.

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

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.

Mark Ashfield

The Institute of Chartered Accountants in England and Wales

HB&O Ltd

Chartered Accountants

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

13 May 2026

2026

2025

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Activities undertaken directly

1,230

-

1,230

-

Investment income

2

560

-

560

1,847

Total

1,790

-

1,790

1,847

EXPENDITURE ON

Charitable activities

3

Activities undertaken directly

66,334

1,192

67,526

27,570

Support costs

7,750

-

7,750

9,862

Total

74,084

1,192

75,276

37,432

NET INCOME/(EXPENDITURE)

(72,294

)

(1,192

)

(73,486

)

(35,585

)

RECONCILIATION OF FUNDS

Total funds brought forward

73,658

1,192

74,850

110,435

TOTAL FUNDS CARRIED FORWARD

1,364

-

1,364

74,850

2026

2025

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

7

-

-

-

1,038

CURRENT ASSETS

Debtors

8

-

-

-

609

Cash at bank

2,564

-

2,564

74,903

2,564

-

2,564

75,512

CREDITORS

Amounts falling due within one year

9

(1,200

)

-

(1,200

)

(1,700

)

NET CURRENT ASSETS

1,364

-

1,364

73,812

TOTAL ASSETS LESS CURRENT LIABILITIES

1,364

-

1,364

74,850

NET ASSETS

1,364

-

1,364

74,850

FUNDS

10

Unrestricted funds

1,364

73,658

Restricted funds

-

1,192

TOTAL FUNDS

1,364

74,850

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 13 May 2026 and were signed on its behalf by:

F I Swann - Trustee

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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

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.

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.

Tangible fixed assets

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

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.

2.	INVESTMENT INCOME

2026

2025

£

£

Deposit account interest

560

1,847

3.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs

costs

Totals

£

£

£

Activities undertaken directly

67,719

(193

)

67,526

Support costs

-

7,750

7,750

67,719

7,557

75,276

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2026

2025

£

£

Depreciation - owned assets

1,038

1,039

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Investment income

1,847

-

1,847

EXPENDITURE ON

Charitable activities

Activities undertaken directly

23,097

4,473

27,570

Support costs

9,862

-

9,862

Total

32,959

4,473

37,432

NET INCOME/(EXPENDITURE)

(31,112

)

(4,473

)

(35,585

)

RECONCILIATION OF FUNDS

Total funds brought forward

104,770

5,665

110,435

TOTAL FUNDS CARRIED FORWARD

73,658

1,192

74,850

7.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2025 and 31 March 2026

14,351

DEPRECIATION

At 1 April 2025

13,313

Charge for year

1,038

At 31 March 2026

14,351

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

1,038

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

VAT

-

147

Prepayments

-

462

-

609

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Accruals and deferred income

1,200

1,700

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.25

in funds

31.3.26

£

£

£

Unrestricted funds

General fund

73,658

(72,294

)

1,364

Restricted funds

Esmee Fairbairn Foundation

1,192

(1,192

)

-

TOTAL FUNDS

74,850

(73,486

)

1,364

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

1,790

(74,084

)

(72,294

)

Restricted funds

Esmee Fairbairn Foundation

-

(1,192

)

(1,192

)

TOTAL FUNDS

1,790

(75,276

)

(73,486

)

Comparatives for movement in funds

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted fund

104,770

(31,112

)

73,658

Restricted fund

Esmee Fairbairn Foundation

5,665

(4,473

)

1,192

TOTAL FUNDS

110,435

(35,585

)

74,850

Comparative net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

1,847

(32,959

)

(31,112

)

Restricted fund

Esmee Fairbairn Foundation

-

(4,473

)

(4,473

)

TOTAL FUNDS

1,847

(37,432

)

(35,585

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.4.24

in funds

31.3.26

£

£

£

Unrestricted fund

104,770

(103,406

)

1,364

Restricted fund

Esmee Fairbairn Foundation

5,665

(5,665

)

-

TOTAL FUNDS

110,435

(109,071

)

1,364

Net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted fund

3,637

(107,043

)

(103,406

)

Restricted fund

Esmee Fairbairn Foundation

-

(5,665

)

(5,665

)

TOTAL FUNDS

3,637

(112,708

)

(109,071

)

11.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2026.

12.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.