directors' and trustees' report and accounts

FUTURES THEATRE COMPANY (A company limited by guarantee)

DIRECTORS' AND TRUSTEES' REPORT AND ACCOUNTS


REPORT AND ACCOUNTS

C O N T E N T S

Page

Directors' and Trustees' Report 2 - 9

Independent Examiner's Report 10

Statement of Financial Activities 11

Balance Sheet 12

Notes to the Accounts 13 -20

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FUTURES THEATRE COMPANY

(A company limited by guarantee)

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31ST JULY 2016 The trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ended 31st July 2016, which are also prepared to meet the requirements for a directors' report and Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charity SORP (FRS 102) Revised). The Charity has opted to early adopt Charity SORP (FRS 102) Revised..

OUR PURPOSE AND ACTIVITIES

Futures Theatre Company creates new theatre that has been inspired and informed by the stories and life experiences of women and young people. Futures' work both celebrates the authentic lives and illuminates the barriers of disadvantage, injustice and prejudice faced by women and young people; in doing so it challenges the perceptions of both audiences and participants.

New writing is developed through a collaborative process with artistic partners and is informed by in-depth research and engagement programmes. Productions tour London and take theatre to new and often non-traditional audiences. Through performances, engagement and training programmes Futures motivates positive change.

Futures Theatre engages with audiences and participants to explore the world through imaginative plays and engagement programmes, and to develop an understanding of wellbeing, moral, and social issues while developing and enjoying creative potential and theatre experiences.

The principal activity of Futures Theatre is the production of inspiring and challenging plays, engagement programmes and training. In planning its activities, it keeps in mind the Charity Commission's guidance on public benefit. Each year the continuing development of Futures Theatre activities ensures that its objectives are met and that it achieves its aims for public benefit.

Our volunteers

Futures Theatre's Trustees volunteer their time to the company, attending four Board Meetings a year, joining our audience for all performances and events, as well as being a point of contact throughout the year for guidance and support. For the tour of Underwater Love, Futures took on three volunteers to support the development of the tour. Each volunteer contributed one day a week for six weeks.

Achievements and performance

Offside - The Play Offside co-writers, Sabrina Mahfouz and Hollie McNish, have continued to develop the script, with Futures creating new relationships with venues in order to tour this production in spring 2017. This project has grown from autumn 2014 when research was conducted with players and professionals involved in women's football in partnership with Manchester City Women's FC, The Football Museum, IWM and Millwall Lionesses FC.

The recorded interviews and further research informed the writing for Futures' new mainstream production Offside. Diane Mitchell joined the artistic team in November 2014 as Choreographer during a week's rehearsal leading to readings at Manchester's Royal Exchange Theatre, The Albany and Cambridge Junction Theatre.

In July 2015 readings took place at the Hotbed Festival, Cambridge Junction, LFest and Jerwood Space with a developed script and sound track composed within the week's rehearsals by Lillian Heniey, Composer, who joined the artistic team. From these readings Futures' established a connection with the Traverse Theatre, who agreed to be the dramaturgical partner, offering script support ahead of a 2017 tour.

Futures plan to tour 'Offside' from 24 t h March - 29 April to key theatres across the nation, as well as a handful of site specific performances at local football clubs. Joining the creative team is Beth Oppenheim, as Set and Costume Designer, and Tom Adams, as Composer, with Lillian Henley remaining involved as a consultant.

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DIRECTORS' AND TRUSTEES' REPORT (Cont/d)

FOR THE YEAR ENDED 31 ST JULY 2016

Underwater Love - Forum Play Following on from consultations held in July 2015, Futures' delivered further workshops with secondary school groups exploring the issue of pornography and sexual imagery. This informed Flair May's second play and Forum Theatre Production, Underwater Love. The play toured schools and theatres across London from 23 r d May - 8 t h July 2016. The production was performed by four actors along with a Company Stage Manager/Facilitator who led the post-show Forum workshops. To increase the theatre experience for our youth audiences Futures commissioned a Designer, Jennifer Lee, to produce a mobile set for the tour. Futures also contracted Composer Lillian Henley to create an original score for the production. The Stage Manager plotted a detailed lighting design which elevated the standard of the production/The tour reached an audience of 4,246 over 46 performances in 32 schools across 17 London boroughs.

Three performances were held at the Areola Theatre in Dalston, following a successful day there last year with Sugar & Spice, and a new relationship was brokered with the Omnibus Theatre, Clapham, enabling Futures to present two performances. This development provided the opportunity to present an evening performance and thereby invite an adult audience as well. Underwater Love will be touring again in autumn 2017.

Evaluation of the tour revealed the following:

> 98% of young people questioned enjoyed Underwater Love a lot > 2% of young people questioned liked it a little, giving the reason they wanted it to be longer > 100% of young people questioned believed drama was a good way of addressing the issues of sexting,

pornography and sexual coercion > 91% of young people questioned found the forum workshop useful > 73% of young people questioned identified sexting or being pressured to do something sexual by somebody else

as a problem for them or their friends > 67% of young people questioned said they knew where to go for support > 73% of young people questioned go to the theatre once a year or not at all

Professional Training Futures Theatre delivered theatre based training for social work professionals throughout the year:

• A half day's training at Brunei University with student social workers. • Two half day's training in Tower Hamlets for social workers in their first assessed year of practice. • A half day's training with North Central London boroughs (Camden, Enfield, Haringey, Islington and Barnet) for

social workers in their first assessed year of practice.

Futures will continue to market the work to existing contacts, new contacts and take bookings through word of mouth.

An Alternative Life Futures are midway through the three year creative engagement programme for disadvantaged women in Lambeth, 'An Alternative Life'. At the end of 2015, delivery was completed on the first year of engagement with Trust Women's Project, working with the women that access their project, who work in street based prostitution. 40 sessions were delivered with women at Trust, reaching a total of 30 women over the year. At the end of Year 1, evaluation revealed:

• 21 women felt less isolated after sessions • 26 women felt supported by their peers during sessions • 30 of all participants (100%) felt supported by Futures staff • 16 women self-reported the ability to make positive changes. • In external evaluation 100% of women stated that it had helped them visualise an alternative lifestyle.

During 2016 Futures are working with women who have survived domestic abuse, in partnership with The Gaia Centre (run by Refuge) in Lambeth. Mid-year monitoring reveals the project has reached 17 women and they have fed back the positive impact the sessions are having:

• 96 % feel more confident • 98 % feel less isolated

In Year 3 Futures will be working at The Beth Centre run by Women in Prison (who support women affected by or at risk of the criminal justice system).

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FOR THE YEAR ENDED 31ST JULY 2016

A Cracked Plaster Sky As part of the first year of 'An Alternative Life', Futures commissioned Kay Adshead to write a play inspired and informed by the stories encountered in the weekly workshops. In December 2015, Futures shared a rehearsed reading of her script, A Cracked Plaster Sky, at the Ovalhouse and received an extremely positive response. Futures are now planning a future life for the production in the summer of 2017.

Public Benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity's activities.

FINANCIAL REVIEW

The Statement of Financial Activities showed net surplus of £19,785 (2015 - surplus £3,664) for the year and reserves stand at £41,593 (2015 - £21,808).

Futures have successfully raised funds for projects from Trusts & Foundations, ensuring that all earned income, from ticket sales and training, could be directed towards building the reserves to the level in line with the Company's Policy. The ambition moving forward is to further diversify income streams to ensure this level of reserves can be sustained and projects can be funded from a healthy number of different sources. Taking a production (Offside) on tour provides Futures with an opportunity to increase earned income and generate greater exposure to support the efforts of sourcing income from elsewhere.

Principal funding sources

Futures Theatre has a successful track record of raising funds from a diverse range of grant making authorities and trusts and foundations.

Trust, Foundation and Grant Funders for 2015/2016 • Arts Council England • Awards for All England • Big Lottery Fund - An Alternative Life • Aldgate & Allhallows Foundation • Buzzacott Stuart Defries Memorial Fund • Igen Trust • John Lyon's Charity • Kerbascol Trust • Lloyds Bank Foundation • Newcomen Collett Trust • SE Franklin Charity Trust No 3 • Sir William Boreman's Foundation • Southwark Council • Sylvia Waddilove Foundation UK • The Arsenal Foundation Ltd • The John Thaw Foundation • The Woodward Charitable Trust • Tottenham Grammer School • Truemark Trust • Westminister Amalgamated Charity

Investment powers and policy

The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity. The Trustees have the power to invest in any way that they see fit.

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Reserves policy

The Company's policy on reserves has been set, at the request of the Trustees, to aim for a minimum of three months running costs with the ambition to reach six months running costs. Futures current level of reserves is £41,593, of which the £24,701 is unrestricted and £3,736 can only be realised by disposing of tangible fixed assets. Therefore, this leaves £20,965 as unrestricted and undesignated funds. The total level of unrestricted reserves provides Futures with three month's running costs, in line with the Company's reserves policy. The aim, moving forward, will be to sustain this level and begin building towards six months running costs.

Future developments

Moving forward Futures aim to continue building and sustain relationships with key artists and venues that can cross all strands of the company's work. The training program will remain an exception to this but will continue to fulfil the desire to work through theatre to support vulnerable women and young people while financially contributing to Future's program of work.

Over the next few months, Futures will be finalising plans for the national tour of their production Offside. Offside will be touring theatres across the country, including a handful of site specific performances, from 24 t h March - 29 t h April 2017. The full creative team includes: Co-writers: Sabrina Mahfouz and Hollie McNish; Director - Caroline Bryant; Designer - Beth Oppenheim; Composer - Tom Adams (with support from Lillian Henley); Movement Director -Diane Alison-Mitchell.

An Alternative Life weekly engagement workshops will continue, culminating in rehearsed readings in December 2016, with the first draft of Alexandra Wood's script. Year 3 will start in January 2017, working at The Beth Centre run by Women in Prison, a safe confidential space providing support for women at risk of, or affected by the criminal justice system living in Lambeth. Following a successful first half of the project, plans are being made for the future life of the project, beyond 2017. Futures plan for the script from Year 1of An Alternative Life, Kay Adshead's A Cracked Plaster Sky, to go to full production in 2017/18.

Underwater Love will tour London school theatres again in the autumn of 2017 so the next year will be used to develop the production, including the script, design and workshop, ahead of that tour.

Futures' training program will continue to be rolled out across Universities and boroughs throughout London, training professionals who work in front line services with young people and vulnerable women.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Futures Theatre Company is registered as a company limited by guarantee and not having share capital. Its operations are governed by its memorandum and articles of association (M&AA). In the event of the Company being wound up, each member is required to contribute an amount not exceeding £1.

The company was incorporated on 23 r d January 1996 and registered as a charity on 12 t h February 1996. The charity registration number is 1052890 and the company registration number is 03149687.

Futures was founded four years prior to its incorporation, gaining charitable status in January 1992

Recruitment and appointment of Trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated by Futures Theatre Company. The Directors of the organisation are also the charity Trustees for the purposes of charity law.

Trustees can be nominated by members of the charity, by other Trustees or by another organisation. Upon appointment, Trustees receive information outlining a history of the charity and a copy of the charity's governing document, its Memorandum and Articles of Association. Trustees are then invited to attend an induction meeting with the Chair and Artistic Director to understand how the Company operates and to learn more about its short and long term aims and objectives.

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The Trustees have no beneficial interest in the company other than as members. The Trustees are also the Directors of the company.

Trustee induction and training

The Trustees maintain a good working knowledge of charity and company law and best practise by regular reading of charity press articles and scrutiny of Companies House, Charity Commission, other Government and voluntary organisation advisory websites. New Trustees are given copies of the Memorandum and Articles of Association and copies of previous year's minutes and attend an induction session given by an experienced Trustee.

Organisation

Futures Theatre's organisational structure is headed by the board of Trustees, who attend quarterly meetings and contribute artistic advice, business expertise and practical help.

As Artistic Director, Caroline sets the artistic vision for the Company as well as the business strategy and reports to the Board. Artistically, her duties include forming new artistic relationships with writers and other theatre makers, research and development of new projects alongside overseeing current projects. Caroline supports script development and directs productions. Within the business Caroline sets budgets, oversees the accounts, line manages permanent staff and contributes to fundraising and developing partnerships. Decisions within the Company are made by Caroline in consultation with permanent staff and members of the Board.

Reporting to the Artistic Director is the Engagement Director, Flair May. Her responsibilities include leading on the creative engagement programme for vulnerable women, the creation and development of Forum Theatre training sessions for professionals, script writing for young audiences and training sessions, training actors / facilitators on Forum Theatre and writing resources for engagement work with women and young audiences.

Flair is responsible for Future's Safeguarding (relating to the protection of children, young people, vulnerable adults and Futures' employees); including updating the safeguarding policy and inducting new members of staff (including freelancers); assessing risk when working with vulnerable groups; being the first point of contact for Futures' staff and external partner agencies when concerns are raised (for example: a disclosure made by a young person to an actor working in a school).

The General Manager, Lizzie Vogler, deals with general administration, fundraising, commissioning, marketing, tour booking, managing relationships with schools and venues, evaluation, budgeting day to day accounts, and managing volunteers. Lizzie reports to the Artistic Director.

Training

Staff have received training in:

• Directing with Dominic Cooke • Social Media lecture - professional development • Disadvantage and Women involved in prostitution Seminar • Business Planning • Creating theatre in the 'home' - Conference • Getting the best from Press - training • An introduction to Playwriting - Euphoric Ink

Other training and professional networking has been attended by staff at the Independent Theatre Council (ITC) and national conferences.

Related Parties

Futures Theatre is a member of the Independent Theatre Council (ITC). The ITC is the UK's leading management association for the performing arts, representing over 400 organisations and producers across the country. The ITC provides a comprehensive package of advice services, training and professional development opportunities, networking meetings and exclusive service discounts

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Pay policy for senior staff

Permanent loyal staff is essential to the success of Futures Theatre. There are three members of core staff, two of which are long serving to the organisation. The Company is keen to find ways to retain their level of stability and dedication. As a small charity, it has been difficult to offer the financial rewards and employment packages that may be attractive and possible in other organisations. Futures Theatre recognises that there are other rewards and benefits to staff, such as being part of a company dedicated to the ideals of shared social responsibility and, as individuals, staff are recognised for making a tangible difference to the lives of Futures Theatre audiences and participants. The Trustees keep under review ways to improve staff employment terms.

Risk Management

The trustees have a risk management strategy which comprises:

• An annual review of the risks the charity may face; • The establishment of systems and procedures to mitigate those risks identified in the plan; • Implementation of procedures designed to minimise any potential impact on the charity should those risks

materialise.

In addition, steps have also been taken in the following areas to mitigate risks:

' Staff There is an identified risk that the board addressed towards the end of 2015, to manage a situation where key staff are unable to work, or have to leave without notice. Futures worked with the Board to identify the appropriate Trustee to oversee the responsibilities of an absent member of staff, in coordination with the Chair and remaining team. Futures' staff have also worked to maintain a clear document trail for all ongoing projects and key negotiations. The Board are presented, at the quarterly meetings, with a risk register, tracking the identified risks and outlining strategies to mitigate against these. The risk register is reviewed annually.

J Finance It is the Company's policy not to borrow to fund work and most trust funds and grants are project specific. This means the financial risk is limited, because the level of available funds is known at the outset and the budget adjusted as necessary.

S Earned Income Earned Income depends on continued demand for Futures Theatre services and clients' ability to fund such purchases. The Company has devoted considerable time to avoiding the risk of a reduction in demand by developing and packaging training programmes tailored to clients' needs. Our six week tour of Underwater Love earned an income of £13,397 at 83% capacity this equals the income earned on our 4.5 week tour of Sugar & Spice of £13,368 at 82% capacity. Futures have addressed the difficulties in earning income during the last tour by moving future tour dates to the autumn, a point at which schools are better placed to apply funding to external projects.

s Grants from trusts and foundations The current financial climate carries an obvious risk that this important source of income will be reduced. This risk has been addressed in consultation with the Company's part-time fundraiser and the funding strategy adopted involves not only applications to grant-making trusts, but also explores support from other sources, including arts organisations, health and education bodies, training bodies and sponsorship. The Company continues to invest substantial time in building productive relationships in all these areas.

s Premises Futures Theatre office and rehearsal space in the Crypt at St John's is subsidised, as the Company contributes to the running and development of 'Creative St John's Waterloo'. It has a strong partnership with the other resident arts companies in the Crypt and with the Church. Over the last year the rent has increased. Futures Theatre has budgeted for a further reasonable increase in rent in our future financial planning.

St John's church is fundraising and applying for planning permission for the Crypt and Church to be developed. Futures Theatre has been allocated office space within the development and is a key partner in their funding bids. There potentially will be less availability (at no fee) of the rehearsal space but this is an opportunity for Futures to budget and plan to rehearse in venues which are more artistically satisfying to work in, while positioning ourselves better within the arts world.

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REFERENCE AND ADMINISTRATIVE DETAILS

Company Number: 03149687

Charity Number: 1052890

Registered office & operational address: St John's Crypt, 73 Waterloo Road, London SE1 8UD

Directors and Trustees: Mr Donald Stewart - Chair Mr Edward T Rodrigo - Treasurer Mr Kemoh Tarawali Ms Dawn Wrench Ms Lynn Baxter Ms Vanessa Stone Mr Alan Caton

Company secretary: Caroline Bryant

Senior Management Team: Caroline Bryant - Artistic Director Flaire May - Engagement Director Lizzie Vogler - General Manager

Independent Examiner: David Terry FCA Ramon Lee & Partners, Kemp House, 152/160 City Road, London EC1V 2DW

Bankers: HSBC Bank Plc, 5 Wimbledon Hill Road, Wimbledon, London.SW19 7NF. CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Mailing, Kent. ME19 4JQ

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees (who are also directors of Futures Theatre Company for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs ofthe company and of its income and expenditure for that period. In preparing these financial statements, the Directors 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; • state whether applicable UK Accounting Standards have been followed, subject to any material departures

disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

charitable company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

APPROVAL

This report was approved by the Board of Directors and Trustees 5 t h October 2016 and signed on its behalf:

CAROLINE BRYANT SECRETARY

5™ OCTOBER 2016

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF


I report on the accounts of the charitable company for the year ended 31st July 2016 which are set on pages 11 to 20.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 145 ofthe 2011 Act; • to follow the procedures laid down in the general Directions given by the Charity Commission under section

145(5)(b) ofthe 2011 Act; and • to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

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

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

• to keep accounting records in accordance with section 386 ofthe Companies Act 2006; and • to prepare accounts which accord with the accounting records, comply with the accounting requirements of

section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

DAVID TERRY FCA RAMON LEE & PARTNERS CHARTERED ACCOUNTANT

KEMP HOUSE 152/160 CITY ROAD LONDON EC1V 2DW

5 T H OCTOBER 2016

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STATEMENT OF FINANCIAL ACTIVITIES


SUMMARY INCOME AND EXPENDITURE ACCOUNT

Notes Unrestricted

Funds £

Restricted Funds

£

2016

£

2015 As restated

£

Income Grants and donations 2 609 91,868 92,477 58,619

Income from charitable activities 3 4,000 69,914 73,914 42,062

Income from other trading activities 4 25,397 - 25,397 43,446

Investment income 19 - 19 -

Total income 30,025 161,782 191,807 144,127

Expenditure

Cost of raising funds 5 13,781 225 14,006 5,244

Expenditure on charitable activities 5 13,351 144,665 158,016 135,219

Total expenditure 27,132 144,890 172,022 140,463

Net income/(expenditure) 2,893 16,892 19,785 3,664

Transfers between funds - - - -

Net movement in funds 2,893 16,892 19,785 3,664

Reconciliation of funcis Total funds brought forward 21,808 - 21,808 18,144

Total funds carried forward 24,701 16,892 41,593 21,808

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CONTINUING OPERATIONS

None of the company's activities were acquired or discontinued during the above two financial periods.

TOTAL RECOGNISED GAINS AND LOSSES

The company has no recognised gains or losses other than the above movement in funds for the above two financial years.

The notes on page 13 to 20 form part of these accounts.

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BALANCE SHEET AS AT 31 ST JULY 2016

Notes 2016 2015 £ £ £ £

Fixed assets

Tangible assets 9 3,736 4,540

Current assets

Debtors 10 3,090 11,250 Cash at bank and in hand 51,168 23,616 Prepayments and deposits paid 131 2,204

54,389 37,070

Liabilities Creditors falling due within one year 11 (16,532) (19,802)

Net current assets 37,857 17,268

Net assets 41,593 21,808

The funds of the charity

Unrestricted Funds 12 24,701 21,808

Restricted Funds 12 16,892

Total charity funds 41,593 21,808

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The directors acknowledged their responsibilities for ensuring that the company 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 period and of its profit or loss for the financial period in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as is applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.

These accounts were approved by the Board of Trustees on 5 t h October 2016 and were signed on its behalf by:

Donald Stewart - Chair

Tom Rodrigo - Treasurer

Company Registration No: 05800086

The notes on page 13 to 20 form part of these accounts.

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NOTES TO THE ACCOUNTS


1. ACCOUNTING POLICIES

1.1 Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - Charity SORP (FRS 102) Revised, The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Charity has opted to early adopt Charity SORP (FRS 102) Revised.

Futures Theatre Company meets the definition of a public benefit entity under FRS 102.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

1.2 Reconciliation with previous Generally Accepted Accounting Practices In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.

The opening reserves and the previous year's Net Income and Expenditure are unchanged.

1.3 Preparation of accounts on a going concem basis The Charity's Financial Statements show net income of £19,785 for the year and free reserves of £20,965. The trustees are of the view that these results have secured the immediate future of the Charity for the next 12 months and on this basis the Charity is a going concern.

1.4 Income recognition Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

(a) Income received by way of grants, donations and legacies are included in full in the Statement of Financial Activities when received, unless they relate to a specified future period, in which case they are deferred.

(b) Legacies entitlement is taken as the earlier of the date on which either: the charity is aware that the probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that the distribution is made, or when a distribution is received from the estate. No legacies were received during the year.

(c) Income from charitable activities received by way of revenue grants and donations are credited to restricted incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.

(d) Grants and donations of general nature which are not conditional on delivering certain levels of service are included as part of Grants and Donations as shown under note 2. Performance related grants and donations which have conditions for a specific outcome are include as Income from Charitable Activities as shown in Note 3.

(e) Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Costs relating to fixed assets is charged against the restricted fund.

(f) Income from charitable activities include income recognised as earned (as the related goods and services are provided) under contract, in the form of sessional/membership fees and service level agreement.

(g) Investment income is included when receivable.

(h) Membership fees are credited to income in the year in which they are received, as in practice this represents a receivable basis.

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NOTES TO THE ACCOUNTS (Cont/d)


1.5 Volunteers and donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Charity is not recognised in the main body of the financial accounts but detail is contained in the Trustees report.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. No such services were received during the year.

1.6 Expenditure recognition and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

(a) Cost of generating funds comprises the costs in inducing others to make voluntary contributions to the charity and their associated support costs.

(b) Expenditure on charitable activities includes the costs directly associated with supporting people with disabilities or long-term health conditions to do exercise, to further the purposes of the Charity and their associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.7 Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, management, finance and administration personnel, payroll and governance costs which support the Trust's programmes and activities. These costs have been allocated to expenditure on charitable activities.

1.8 Funds structure The general fund comprises those monies, which may be used toward meeting the charitable objectives of the company at the discretion of the Trustees.

The restricted funds are monies raised for, and their use restricted to, a specific purpose or donations subject to donor imposed conditions.

1.9 Taxation The Charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.10 Tangible Fixed Assets And Depreciation Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £500 or more are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases.

Computer Equipment, plant and machinery - 25% straight line Other equipment - 25% net book value Leasehold improvements - 33% straight line

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1.11 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand Cash at bank and in hand includes cash and short term cash deposits.

1.13 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.14 Financial instruments The Trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.15 Transition to FRS 102 Restatement of opening fund balances or reported net income, at the date of transition was not required. Refer to note 1.2 for further details. The transition date was 1 s t August 2014.

1.16 Judgement and key sources of estimation uncertainty In the application of the company's accounting policies, the charity is required to make judgments, 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 underling 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.

1.17 Operating leases All leases are operating leases, and rentals are charged to the Statement of Financial Activities on a straight-line basis over the lease duration. No assets are held under hire purchase agreements.

2. GRANTS AND DONATIONS

Unrestricted Restricted 2016 2015 £ £ £ £

Arts Council England - 12,320 12,320 15,000 Awards for All England - 10,000 10,000

• -Big Lottery Fund - An Alternative Life - 69,548 69,548 43,556 Donations and sponsorship 609 - 609 63

609 91,868 92,477 58,619

The grants and donations income in 2015 totalling £58,619 was attributed to unrestricted funds of £63 and restricted funds of £58,556

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N O T E S T O T H E A C C O U N T S (Cont/d)

F O R T H E Y E A R E N D E D 31ST J U L Y 2016

3. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted 2016 2015

£ £ £ £ Aldgate & Allhallows Foundation - 3,900 3,900 -Buzzacott Stuart Defries Memorial Fund - 500 500 Chapman Charitable Trust 2,000 2,000 -Charles S French Charitable Trust - - - 2,000 Elephant & Castle London Community Foundation Fund - - - 3,000 Goldsmith Company Charity - - - 3,500 I gen Trust - 16,658 16,658 16,658 John Lyon's Charity - 5,000 5,000 -Kerbascol Trust - 200 200 -Lloyds Bank Foundation - 22,323 22,323 -Newcomen Collett Trust - - - 1,500 SE Franklin Charity Trust No 3 4,000 - 4,000 4,000 Sir William Boreman's Foundation - 3,000 3,000 2,500 Southwark Council - 4,733 4,733 -Sports Relief Evening Standards Dispossessed Fund - LCF - - - 6,904 Sylvia Waddilove Foundation UK - 500 500 -The Arsenal Foundation Ltd - 2,500 2,500 -The John Thaw Foundation - 1,000 1,000 -The Woodward Charitable Trust - 500 500 -Tottenham Grammer School - 2,100 2,100 -Truemark Trust - 2,000 2,000 -Westminister Amalgamated Charity - 3,000 3,000 2,000

4,000 69,914 73,914 42,062

Income from charitable activities in 2015 totalling £42,062 was attributed to unrestricted funds of £5,500 and restricted funds of £36,562.

4. INCOME FROM OTHER TRADING ACTIVITIES

Unrestricted Restricted 2016 2015 £ £ £ £

645 - 645 1,050 12,752 - 12,752 13,000 12,000 - 12,000 17,050

12,346

25,397 - 25,397 43,446

The other trading activities income in 2015 totalling £43,446 was attributed to unrestricted funds.

5. ANALYSIS OF EXPENDITURE Raising Project

funds Delivery 2016 2015 £ £ £ £

Salaries and wages 13,703 124,398 138,101 117,324 Marketing expenses 78 255 333 439 Production costs 14,859 14,859 7,285 Support costs (Note 6) - 17,075 17,075 14,615 Governance costs (Note 6) - 1,654 1,654 800

13,781 158,241 172,022 140,463

Of the £172,022 expenditure in 2016 (2015 - £140,463), £27,132 was charged to unrestricted funds (2015 -£48,542) and £144,890 to restricted funds (2015 - £91,921).

Tickets sales, performance & workshop fees School touring Training fees Commissions

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6. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between charity's key activity undertaken (see note 5) in the year. All the general support and governance costs are allocated to activities at different percentages, based on staff time and the number of service delivery hours attributable to each activity.

General Governance support function 2016 2015

£ £ £ £

Rent, premises expenses and insurance 6,476 - 6,476 7,799 Depreciation of equipment - 804 804 559 Office expenses 10,545 10,545 6,225 Bank charges and interest 54 - 54 32 Independent Examiners fee - 850 850 800

17,075 1,654 18,729 15,415

7. NET INCOME / (EXPENDITURE) FOR THE YEAR

Net movement in funds is shown after charging: 2016 2015

£ £ Independent Examiners fee 850 800 Depreciation of equipment 804 559

8. ANALYSIS OF STAFF COSTS, TRUSTEES REMUNERATION AND EXPENSES, AND COST OF KEY MANAGEMENT PERSONNEL

STAFF COSTS 2016 2015 £ £

Salaries 83,982 68,080 Nationallnsurance 4,929 (1,945)

88,911" 66,135"

The average number of employees analysed by function was:

Direct project work 2 2 Administration work 1 1

No employee received remuneration in excess of £60,000 during the year.

No Trustee received any remuneration during the year (2015 - £nil). No Trustees received reimbursed expenses during the year (2015 - £nil)..

The key management personnel of the charity comprise of the Artistic Director. The total employee benefits of the Artistic Director was £35,027 (2015 - £33,853).

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9. TANGIBLE FIXED ASSETS

2016 2015 Net book value: £ £ Leasehold Improvemnets - -Fixtures, fittings and equipment 3,736 4,540

3,736 4,540 Movements in the period:

Cost: Opening Closing Balances Additions Disposals Balances

£ £ £ £ Leasehold Improvemnets 7,617 - - 7,617 Office equipment 32,732 - 226 32,506

40,349 - 226 40,123

Depreciation: Opening Charge Closing Balances For Period Disposals Balances

£ £ £ £ Leasehold Improvemnets 7,617 - - 7,617 Office equipment 28,192 804 (226) 28,770

35,809 804 (226) 36,387

10. DEBTORS 2016 2015

£ £ Accounts receivable 3,090 11,250

3,090~ 11,250"

11. CREDITORS: Amounts falling due within one year

2016 2015 £ £

Trade creditors 2,287 1,175 Taxation and social security 1,588 2,650 Deferred income 11,687 15,177 Accruals 970 800

16,532 19,802

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12. MOVEMENT IN FUNDS

Purpose of restricted funds: The restricted funds represent income funds expendable at the discretion of the trustees in furtherance of the charity's pursuits in accordance with the conditions imposed. The purpose of each fund is set out below:

Balance Incoming Outgoing Balance at 01.04.15 Resources Resources Transfers at 31.03.16

£ £ £ £ £

Restricted funds: Arts Council England - 12,320 12,320 -Awards for All England - 10,000 10,000 -Big Lottery Fund - An Alternative Life - 69,548 . 69,548 -Aldgate & Allhallows Foundation - 3,900 • 3,900 -Buzzacott Stuart Defries Memorial Fund - 500 500 -Chapman Charitable Trust - 2,000 2,000 -I gen Trust - 16,658 16,658 -John Lyon's Charity - 5,000 5,000 -Kerbascol Trust - 200 200 -Lloyds Bank Foundation - 22,323 5,581 16,742 Sir William Boreman's Foundation - 3,000 3,000 -Southwark Council - 4,733 4,733 -Sylvia Waddilove Foundation UK - 500 500 -The Arsenal Foundation Ltd - 2,500 2,500 -The John Thaw Foundation - 1,000 1,000 -The Woodward Charitable Trust - 500 500 -Tottenham Grammer School - 2,100 2,100 -Truemark Trust - 2,000 2,000 -Westminister Amalgamated Charity - 3,000 3,000 -

General funds

Total funds

- 161,782 145,040 16,742

General funds

Total funds

21,808 30,025 26,982 24,851 General funds

Total funds 21,808 191,807 172,022 41,593

Description, nature and purpose of funds:

General funds:

General fund represents funds available to spend at the discretion of the Trustees after allowing for all the designated funds.

Restricted funds:

Arts Council

Awards for all

Big Lottery Fund - An Alternative Life

Aldgate & Allhallows Foundation

Buzzacott Stuart Defries Memorial Fund

To fund the project of Underwater Love tour

To fund the project of Underwater Love Research

To fund the project of An Alternative Life - 3 year project for vulnerable women in Lambeth

To fund the Tour of 'Underwater Love' to schools in Tower Hamlets

To fund the Tour of Sugar & Spice Interactive Theatre Production

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N O T E S T O T H E A C C O U N T S (Cont/d)

F O R T H E Y E A R E N D E D 31ST J U L Y 2016

12. MOVEMENT IN FUNDS (Cont/d)

Chapman Charitable Trust

Igen Trust

John Lyon's Charity

Kerbascol Trust

Lloyds Bank Foundation

Southwark Council

Sir William Boreman's Foundation

Sylvia Waddilove Foundation UK

The Arsenal Foundation Ltd

The John Thaw Foundation

Tottenham Grammer School

Truemark Trust

Westminister Amalgamated Charity

The Woodward Charitable Trust

- To fund the Tour of 'Underwater Love' to London secondary schools

- To fund the project of An Alternative Life - 3 year project for vulnerable women in Lambeth

- To fund the Tour of 'Underwater Love' to schools in Barnet and Brent


- To fund the project of An Alternative Life - 3 year project for vulnerable women in Lambeth

- To fund the Tour of 'Underwater Love' to schools in Southwark

- To fund the project of Tour of 'Underwater Love' to schools in Greenwich and Lewisham


- To fund the Tour of 'Underwater Love' to schools in Hackney, Islington and Camden


- To fund the Tour of 'Underwater Love' to schools in Haringey


- To fund the Tour of 'Underwater Love' to schools in Westminster

- To fund the Tour of 'Underwater Love' to schools in Lambeth and Southwark

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Current assets

Total net assets

General Funds

£

3,736 20,965

24,701

Restricted Funds

£

16,892

16,892

Total £

3,736 37,857

41,593

14. LIABILITY OF MEMBERS

The charity is constituted as a company limited by guarantee and does not have a share capital divided by shares.

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directors' and trustees' report and accounts

Documents