The trustees present their annual report and financial statements for the year ended 31 March 2026.
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 governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Tramshed is an inclusive performing arts organisation and charity offering workshops, performances and training to children, young people and adults. We deliver activities across Blackpool, Wyre, Fylde and surrounding geographical areas. The opportunities we provide are open to everyone, irrespective of health, social diversity, ethnic background or ability. We aim to bring individuals together to create outstanding, original and beautiful theatre which inspires and celebrates everyone.
The charity has continued to deliver a programme of inclusive theatre workshops and live performances, alongside a range of time-limited, externally funded projects designed to broaden participation, develop skills and increase engagement in inclusive performing arts. Shed Stories has continued to develop and expand its reach, enabling TramShed to engage with the wider community and provide accessible, inclusive creative opportunities to children, young people and families beyond its core workshop programme. The charity has continued to offer the Gold Arts Award, providing young people with opportunities to develop their creative practice, leadership skills and understanding of the wider arts sector while working towards a nationally recognised qualification. TramShed’s inclusive training programme has continued to develop, creating accessible opportunities for participants to build skills, confidence and experience, while supporting the growth and development of the charity’s volunteer team. Across all areas of its work, TramShed has remained committed to removing barriers to participation and ensuring that people of all abilities and needs are able to access, contribute to and benefit from its creative opportunities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Throughout 2025/26, TramShed continued to make positive progress towards its charitable objectives by providing inclusive performing arts opportunities that enable children, young people and adults of all abilities and backgrounds to participate, develop skills, build confidence and express themselves creatively. During the year, 118 members accessed inclusive activity, with the charity delivering 285 inclusive workshops across its core programme. These workshops provided regular opportunities for members to participate in a range of creative activities within an accessible and supportive environment, encouraging creativity, social interaction, personal development and meaningful participation. Performance remained an important part of TramShed’s work. During 2025/26, the charity delivered two inclusive performances, reaching a combined audience of 1,080 people. These productions provided members with opportunities to showcase their creativity and achievements, develop their performance skills and contribute to high-quality shared productions alongside their peers. TramShed also continued to extend its reach beyond its regular membership through Shed Stories. During the year, 179 individuals were reached through Shed Stories outreach delivery, providing accessible creative opportunities within the wider community and enabling more children, young people and families to engage with inclusive performing arts. The charity continued to support progression and personal development through the Gold Arts Award, with five participants successfully achieving their Gold Arts Award during 2025/26. This provided participants with opportunities to develop their artistic practice, leadership skills, independence and understanding of the wider arts sector. Alongside its core programme, TramShed successfully delivered four externally funded projects during the year. These projects enabled the charity to broaden participation, develop new opportunities and extend the reach and impact of its inclusive work.
TramShed also continued to develop its inclusive training programme, creating opportunities for participants to build skills, confidence and practical experience while supporting the continued development and growth of the charity’s volunteer team. Across all areas of delivery, TramShed remained committed to reducing barriers to participation and creating an environment in which individuals are supported to contribute according to their own strengths, interests and needs. The levels of participation, outreach and engagement achieved during the year demonstrate the charity’s continued progress towards its objectives and its commitment to providing accessible and inclusive creative opportunities. The Trustees express their sincere gratitude to all donors, funding organisations, partners, volunteers and supporters who contributed to TramShed’s work during the year. Their continued belief in and support of the charity has enabled TramShed to develop its provision, reach more people and continue working towards its charitable objectives.
The Trustees continue to closely monitor the charity’s financial position through regular management accounts, cash-flow forecasting, budget monitoring and review of income and expenditure. Financial performance and reserves are reviewed by the Board throughout the year, enabling emerging pressures to be identified and appropriate action to be taken. As part of the agreed action plan to strengthen the charity’s financial resilience, TramShed is continuing to develop its Engagement Strategy, with an increased focus on building relationships with individuals, businesses, community partners and supporters and creating sustainable opportunities for engagement, fundraising and longer-term support. The charity is taking a more strategic approach to funding applications, with an increased focus on securing unrestricted and core funding alongside restricted project funding. Where appropriate, TramShed is engaging with existing and prospective funding bodies to communicate the importance of contributing towards the organisation’s core operating costs and longer-term sustainability. TramShed is also strengthening its communications and fundraising activity to increase awareness of the charity’s work, demonstrate its impact and encourage wider financial support. This includes developing its digital and social media communications, sharing participant and organisational achievements and creating clearer opportunities for individuals and organisations to support the charity. The Trustees are seeking to further diversify income and reduce reliance on restricted grant funding. This includes increasing private fundraising and developing the role of TramShed Voice in generating additional support for the charity, alongside exploring individual giving, community fundraising, corporate support, sponsorship and other appropriate unrestricted income opportunities. Alongside income generation, the Trustees continue to maintain oversight of expenditure and seek value for money across the organisation, ensuring resources are used effectively while protecting the quality, accessibility and inclusivity of TramShed’s charitable activities. Budgets and financial commitments are regularly reviewed against available and anticipated income, with expenditure managed carefully in response to the charity’s financial position. The Trustees will continue to review the effectiveness of these measures and adapt the charity’s approach where necessary, with strengthening unrestricted income, rebuilding reserves and improving longer-term financial resilience remaining key priorities for the Board.
Reserves policy
The charity aims to maintain sufficient unrestricted reserves to support its day-to-day operations and provide an appropriate level of financial resilience. The Trustees recognise that the current level of unrestricted reserves is below the level they would wish the charity to maintain and are actively taking steps to address this. An agreed action plan is in place to strengthen unrestricted income and rebuild reserves over a sustainable period. This action includes the continued development of TramShed’s Engagement Strategy; an increased focus on unrestricted and core funding opportunities; strengthened communication and relationship-building with funding bodies, businesses, supporters and the wider community; and increased private and community fundraising, including activity through TramShed Voice. The charity is also working to diversify its income streams to reduce reliance on restricted project funding, while continuing to carefully manage expenditure and ensure resources are used effectively in delivering its charitable objectives. The Trustees will regularly review progress against the agreed action plan, alongside cash flow, budgets and financial forecasts, and will continue to assess the level of reserves required in light of the charity’s activities, commitments and financial risks. Rebuilding unrestricted reserves remains a priority for the Board as part of its commitment to the charity’s longer-term financial sustainability.
The charity is controlled by it's governing document, a deed of trust, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
In keeping with its size, the charity has no formal policies or procedures for recruitment, appointment, induction and training of new trustees.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Tram Shed Theatre Company Limited for the purpose of company law, are responsible for preparing the Trustees' 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Tram Shed Theatre Company Limited (the charity) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The notes on pages 10 to 18 form part of these financial statements.
The notes on pages 10 to 18 form part of these financial statements.
Tram Shed Theatre Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 17 St Peters Place, Fleetwood, Lancashire, FY7 6EB, United Kingdom.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". 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 not to prepare a statement of cash flows.
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. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors 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.
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.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items.
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The charity is exempt from corporation tax on its charitable activities.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2025 - none).