It’s astonishing to me that, in the light of some of the organisations that are granted precious Arts Council funds, the delightful Little Angel Theatre gets nothing on a regular basis. This admirable Islington venue will celebrate its 50th anniversary next year, and heaven only knows how many children, school parties and indeed adults it will have charmed with its lovingly crafted puppet shows by then. If he gets weary of puppet colleagues during his first few days in office, new Culture Secretary Jeremy Hunt could do worse than pop over to N1 to take a look for himself.

It’s attention-to-detail business as usual with The Fabulous Flutterbys, aimed at ages three and up, whose book and lilting songs have been written by acclaimed cabaret vocalist Barb Jungr.

Scottish caterpillar Hamish has lost his friend Fiona in the rush to avoid the diggers, and sets out to find her again. He’s accompanied by Grace, an imperious and glamorous foreign caterpillar, and if this were a different sort of show we wouldn’t place any money on Hamish and Fiona living happily ever after. But it isn’t, so we do, as the pair of searchers encounter all sorts of weird and wonderful bugs, plus a patch of most pugnacious strawberries, en route to the ultimate goal of transforming into beautiful flutterbys.

Peter Glanville’s production sees Roger Lade’s exquisite puppets, all soulful expressions and glittery eyes, expertly manipulated by two puppeteers, who also sing Jungr’s songs. I particularly liked the two stately snails who croon the love ballad Maureen and I, and there’s jolly work from ant leader Adam. The schoolchildren with whom I watched the show were entranced. At just £5 for a 5pm Friday performance, this is surely one of the best-value tickets in town.

Until July 4. Information: 020 7226 1787. littleangeltheatre.com