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2021-05-31-accounts

REGISTERED COMPANY NUMBER: 03168893 (England and Wales)

REGISTERED CHARITY NUMBER: 1050103

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 May 2021

for The International Schools Theatre Association

Atkins Ferrie Services Limited Chartered Accountants and Statutory Auditors Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwail TR13 OSR

The international Schools Theatre Association

Contents of the Financial Statements for the Year Ended 31 May 2023

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The international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2021

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 34 May 2021. 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).

The trustees! report also contains a directors’ report as required by company faw.

OBJECTIVES AND ACTIVITIES Objectives and aims The purpose of The Internationa! Schools Theatre Association (ISTA} (as per the Memorandum and Articles of Association) are: i. To advance the education of school pupils and teachers throughout the world by developing their understanding, knowledge and appreciation of theatre and the dramatic tradition through non-competitive and collaborative activities. it. To advance the education of young people and their teachers in global issues and cultural diversity through theatre and drama.

Vision, mission and vatues ISTA believes that the future of our world depends on confident, internationally minded, collaborative and culturally literate young experience.people who are empowered to engage with and change the world responsibly. iSTA believes that this is achieved through the ISTA Educators play a key role in the fulfilment of the {STA mission. ISTA therefore offers educators worldwide the opportunity to come throughtogethertheatre.to develop themselves, their pedagogy and their skills, equipping and empowering them to bring about this change learnISTA drawsabout theatre.together young people, artists and teachers from different countries in different settings to experience, create and

ISTA passionately values diversity and collaboration, celebration and play, friendship and collegiality.

ISTA’s objectives are met through the provision of a range of festivals and training programmes, as well as the publication of resources. ISTA now produces over 70 events per year. The following list summarises this current offer:

  1. Primary {LPS/PS}, Middle (MS) and High (HS} school festivals for children and young people aged 7 - 18.

  2. TaPS (Theatre arts Programme Symposium) - workshops for students of the International Baccalaureate Diploma theatre course,

  3. 1B workshops for teachers of Diploma Programme Theatre. ISTA is the global provider for the International Baccalaureate for DP Theatre training. 4. Professional Development and Learning opportunities that, outside of our formal [B provision, includes professional development and learning sessions for teachers at festivals and TaPS, and one-day/three-day Studio workshops. 5. An Artist in Residence programme that brings ISTA into schools by way of bespoke residences for children, young people, theatre teachers and wider school faculty. This is conducted via in-person or virtual workshops.

  4. A Consultancy programme which delivers INSET to specific departments of faculties within schools.

7, Manthly resources through our online Scene publication including articles and resources focussing on: a. Curriculum b. Theatre c. An inspiration

&.resources. An online resaurce centre for theatre artists and teachers. This now includes support materials for teachers as well as teaching

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The international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2021

  1. A growing range of ‘new streams of work’ such as: a, local festivals (for member schools in one city}; b. hybrid and virtual festivals, TaPS, PD&L, IB workshops and spotlights for students; c. festivals for particular regional educational groups, d. a year round after school Academy; e. a range of bespoke ‘in-house’ events commissioned by member schools; f. regional partnerships with organisations. such as Yew Chung Education Foundation to co-produce festivals; g. the creation of a small number of global partner schools with key member schools in order to develop new projects.

ISTA seeks to advance the education of young people and teachers through theatre as outlined in its Articles of Association.

Through the ISTA experience young people become more confident, internationally minded, collaborative and culturally literate through its immersive theatre experience. In this way young people are encouraged to engage with and change the world responsibly. ISTA provides experiences for international educators to develop themselves and their practice to facilitate this change in young people. ISTA achieves its aims and objectives by providing immersive three day experiences, bringing young people, artists and teachers together to learn about theatre and themselves. Alf participants leave the ISTA experience inspired and changed in some way. Detailed surveys gleaned from all our stakeholders show consistently that ISTA events change people’s lives and have a strong impact on how young people see themselves, what they learn about theatre, and how empowered they are to effect change. The surveys ISTA produces are both qualitative and quantitative providing us with a balanced and detailed overview of how our young people, educators and artists are impacted by the ISTA event. Social investments and Public Benefit The Trustees have given regard to the Charity Commission guidance on public benefit. Our Connect festivals directly address our responsibility to provide public benefit. These events seek to bring young people from disadvantaged backgrounds together with young people from international schools to work collaboratively through theatre. These experiences are approached with the utmost care to ensure the sustainability and effectiveness of the experience for all participants. We work with the service learning departments in our member schools ensuring the organisations we involve already have a lasting relationship with our festival community. Much work goes into the preparation of the event and the careful selection and training of our Scholars (young people from disadvantaged backgrounds} in order to maximise the experience. Bue to COVID-19 no Connect festivals were produced in 2020-2021. !t is our intention to build our Connect programme in the coming years to work with more scholars on an annual basis. We also have a designated Connect coordinator who will ensure the impact from these events is as strong as possible and that the events are produced with the highest levels of consistency. With no live events currently being produced we are researching ways of developing our Connect work on a more local basis. Rather than Connect taking place at one of our festivals, we are exploring ways to develop festival experiences with one school and one local partner organisation. Aims ISTA Connect is designed to use theatre and the ISTA experience to: - connect diverse yaung people from different communities and backgrounds; + connect ISTA to a range of communities and young people worldwide that it has not worked with before and who would benefit from the offer; « connect ISTA member schools to their communities through already established service learning programmes. The Connect programme has, to date, been initially financed by ISTA with a view to applying for funding in the future. Connect festivals now constitute a core body of our work and we are fine tuning and improving the Connect offer year on year. Volunteers ISTA recognises and would like to thank all volunteers for their contribution in enabling the charity to run so many events throughout the world, including our host teachers, individuals and their school communities for volunteering their time and facilities. Without this contribution ISTA would not be able to function in the manner we do, benefitting the education of so many young people.

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The International Schools Theatre Association

Report of the Trustees for the Year Ended 31 May 2021

OBJECTIVES AND ACTIVITIES

Partnerships To strengthen our work ISTA has established a range of partnerships with organisations and institutions. Partnerships either (primarily) bring us money as part of our income stream or help us develop our educational work/services. During 2020-2021 we established four global partner schools with the aim of developing, collaboratively, new programmes of work: - Atlanta International School and festivals focusing on civil rights. - Dulwich College, Singapore and festivals focusing on cross-arts experiences, - International School of Phnom Penh and festivals focusing on integrating and training new artists. - St Julian’s School and creative learning events.

We also worked with the following schools/organisations on specific projects: ~ Hong Kong International School and the ISTA Hong Kong Academy. ~ Near West Group (HK) Ltd. in Guangzhou and developing ISTA events in China for Chinese schools. - Nord Anglia, China and festivals for Nord Anglia schools in China. - Prem Tinsulanonda International School in Thailand

ACHIEVEMENT AND PERFORMANCE

Charitable activities Achievementbelow. and performance will be noted primarily through the list of celebrations and challenges/areas of learning, listed June 2020-May 2021 saw the on-going challenges associated with the pandemic as the world handled the outbreaks in different ways affecting schools and the [8 in different ways.

June 2020-May2020-May 2021 saw thethe on-going challenges associated with the pandemic as thethe world handled thethe outbreaks in different
ways affecting schools and the [8affecting schools and the [8schools and the [8and the [8the [8[8 in different ways.different ways.ways.		 different
DespitetheimpactofCOViDthere areanumberofachievements to.celebrate:
~Newvirtual TaPS and Discover DPtheatre courses
-AsuitofvirtualPD&Lexperiencesacross arangeoffocuses
~Student spotlightscovering allaspectsofthe 1BDPTheatreprogramme
-ThefirstGlobal digital productionfocusingonVerbatimwithfundingfromtheZichTrust
~ Launch ofthe ISTAshop
-Appointment ofISTA’s firstEngagementCoordinator.: |
-WelcomedanewChairandVice-Chairof theboardaswallasnewTrusteeswithspecialismsacross education,fundraisingand
alumni
:
~ New virtual festival model
-Launchof theeBook, Identity: 30 Ista inspirationand resource packs
~ Firstever virtual iBworkshops are launched
~TogetherTowardsTomorrowsessionsforteacherstodiscusschallengesand celebrations isintroduced
-AiR bookingsandincomeexceedsexpectationsasvirtual sessionsbecomehugelypopular
-ISFAchroniclesarelaunched.

Challenges and areas of learning Challenges this year were primarily due to COViD-19. Namely the loss of event income and a deep dive into our 2020-2021 budget in order to ensure (STA did not go under. Creating budget forecasts for a number of different scenarios was key this year; as was reviewing all our overheads and reducing where possible as part of an emergency plan. Creating new operational systems for cancelling events by way of internal structures and ensuring we kept on top of the huge increase in communication from schools took a great deal of energy from all team members involved. The major areas of learning have been by way of exploration and development of new ways of working online, Assessing teacher needs and commissioning new services including:

MEMBERSHIP AND EVENTS

Membership

ISTA closed the year with 232 member schools - a decrease of 7% on the previous year and 37 individual members, an iricrease of 37% on the previous year. ISTA produced 12 festivals, 30 TaPS, 3 18 workshops, 4 Studios, 26 PD&L sessions, 1 Verbatim project, 2 Discover DP Theatre sessions and 7 spotlight sessions. A total of 85 events so an increase of 38 events from last year. Due to the COVID-19 pandemic, all of these events were online.

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the international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2021 Festivals 505 students attended attended festivals, a decrease of 69% from 69% from from the previous year. year. Verbatim project 80 students attended the Verbatim project. TaPS and iB workshops workshops 1. TaPS and other events for students of IB theatre : 270 students attended TaPS, a decrease of 62% from the previous year. 35 students attended Discover DP Theatre. 407 students attended the scheduled Spotlight sessions plus there were 10 additional bookings for Bespoke Spotlight sessions (an additional 139 students). 2. 1B workshops 31 teachers attended IB training, a decrease of 81% from the previous year.

Festivals 505 students attended attended festivals, a decrease of 69% from 69% from from the previous year. year. Verbatim project 80 students attended the Verbatim project.

TaPS and iB workshops workshops

AiR programme

ISTA delivered 272 AiR workshops and 5 sessions of school wide consultancies. There. were also 14 bookings for bespoke masterclass sessions, and 5 bookings for mentoring sessions Professional Development and Learning (PD&L) 42 teachers attended the Online studios and 810 teachers attended the monthly PD&L sessions.

Engagement ISTA worked with 1,436 students and 883 teachers during the year. A 38% decrease from the previous year for students, and a 57% increase for teachers. Fundraising activities The charity, while not currently undertaking any fundraising activities, is preparing a 501-C3 application to be a non-profit recognized charity in the United States, The board has added a member, Caroline Hutchinson, specifically to support us in this endeavor. FINANCIAL REVIEW Reserves policy ISTA's reserves policy states that: The GBP £65,000 in designated reserves includes amounts put aside for 1 - equipment and website, 2 - research, 3 - long term sickness, 4 - emergency - and 5 - deputisation. We have increased it to GBP £70,000 In June 2020, and are lookingto increase It further over the next three years, as soon as we start making surpluses again. We would like It to be a minimum of GBP £100,000 by 31st May 2024, Finance The charity's finances are carefully controlled each year by the setting of an annual budget and projected income target. Tri annual management accounts are prepared by the Finance Director. These are shared with the board of trustees and used to monitor current year accounts as well as creating accounts for future years. The projected deficit for the year was £20,921 and the actual deficit was £22,440 (2020: £31,649 deficit).

We had 113 school bookings cancelled due to the Covid-19 pandemic, resulting in 1,457 student places, This had a huge impact on our festival surpluses for the year. The actual festival surpluses were down by £134,795 from the budgeted surpluses, £118,881 of which was due to Covid-19. We did however mitigate the loss made during the year due to the pandemic by reducing overheads, cutting staff hours, and also taking advantage of the furlough scheme put in place by HMRC.

The total funds hetd by the charity are £96,162 (2020: £118,602), all of which are unrestricted. Free reserves total £83,015 (2020: £104,565). Designated reserves of £3,000, that were received in the 2029-20 year for the Zich Archive Project, have alt been utilised during 2020-2021. Restricted funds of £8,500 were also received and allocated to the Zich Project (see Note 22). These were all utilised in 2020-2021. Our remaining reserves are used for operating purposes.

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The international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2021

FINANCIAL REVIEW Principal risks and uncertainties includeThe principala: risks faced by ISTA are articulated ina variety of dacurnents within our managing risk programme. These documents - Managing risk overview, ~ Managing risk matrix. - Health and safety policy. - SANs {Safety Advisory Notes). - Various policies (outlined elsewhere in this report}. - Risk assessment templates. - Letters of agreement for all stakeholders. All such documents are regularly reviewed and updated by our Safety Manager and include plans and strategies for managing risks within the organisation as a whole as well as. at specific events. We constantly monitor future risks. The Executive Director aims to identify risks ahead of time: these are then discussed by the board of trustees and appropriate research and action is put into play in order to ensure the longevity of the organisation. We seek to protect the aims and objectives of the organisation, protect our history, stick to our core activities while being mindful of the current cultural and financial climate. One example of the above js our event review process whereby we seek to ensure that our events remain relevant, informed by the latest in arts and educational research leading to maximum participation by our members. The festival event review process was completed during 2019-2020, work.The organisation did not anticipate the impact of a global pandemic and we are currently adding this to our ongoing managing risk FUTURE PLANS Over the last year, the trustees with the ED & staff, have worked extensively on reviewing and revising our strategic plan to ensure ISTA is in the best position in a post-Covid work. SWOT analysis and innovation are at the heart of new elements of the strategic plan. Many of the virtual programmes that were developed, out of necessity over the 2020-early 2021 year, will morph into a new ways and models of working with remote members and stakeholders to expand our face2face offerings with hybrid and virtual event offerings. As the world slowly opens up, regional events are proving popular to members with opportunities for new growth areas and regions as well. The strategic pian is stil being finalised, and the longer term strategies are stif! developing as the post-Covid dynamics start to shift. Trustees have identified these priorities: - Long term financial planning and strategy. - Sustainable income development through establishing fundraising opportunities & structure within (STA globally - Development of a fully integrated CRM - A review of our organisational structure as a virtual organisation with the core competencies of theatre, education and event management. - Broadening reach across the arts and beyond. STRUCTURE, GOVERNANCE AND MANAGEMENT Gaverning 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 international Schools Theatre Association is governed by its Articles of Association. It is registered as a charity with the Charity Commission. Every member of the charity undertakes to contribute to the assets of the charity, in the event of it being wound up while they are still members and fora year after ceasing to be a member, to the maximum of £10 each. Recruitment and appointment of new trustees Trustees are appointed to the board. Appointments are made to individuals who come from within the ISTA community and/or are Seen to uphold the organisation's vision, mission and values. New trustees are appointed normally when existing trustees terms of office expire. All trustees are invited to join the board according to their individual skills and experiences and the current needs of the organisation. Any new members must have the full vote of the existing trustees. before appointments are formalised, At any one time it is considered important for trustees as a collective to have a broad base of skills and experiences that can meet the needs of an international arts organisation.

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The international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT At the end of their term, trustees may stand down or request to stay on for a further term. Should trustees wish to extend their term, this must be deemed appropriate and formally approved by the remaining trustees. An informal annual review of individual trustees work is carried out by the chair. This review provides a forum for trustees to discuss their work in an open and honest manner. As of 2015 and the adoption of the new Articles of Association, a trustees’ term of office is now four years.

A document called ‘Guidance for trustees’ exists to clarify the roles and responsibilities of the board, as individuals and collectively. it also outlines the job description for the chair and vice-chair of the board as well_as the decision-making process for the board.

Organisational structure ISTA is a registered charity (No. 1050103) and a limited company, limited by guarantee (No. 03108893). Its objects and powers and other constitutional matters are set out in its Articles of Association. ISTA is governed by a board of trustees and managed on a day-to-day basis by a number of full time and part time staff.

At the beginning of 2020-2021, there were 5 trustees.

1} Emily Ross (acting chair}, United States of America 2) Jitfian Campana, Egypt. 5) Anne Drouet, Hong Kong. 6) Alan Hayes, Belgium. 7) Rob Warren, United States of America.

During the year there were a number of changes to the board.

1) In June 2020, we appointed Christina Decu, as a new member of the board 2) Emily Ross tended her resignation and resigned from the board 30 November 2020. 3) Alan Hayes resigned from the board 30 November 2020 as he came to the end of his 8 year terrn. 4) Following a recruitment and interview process ISTA appointed a new chair (Agustin David) and vice chair (Liane Campbell} who joined the board as of ist September and assumed their appointed roles as of 26th September 2020. 5) In April 2021, three new trustees were appointed for their specific experience and roles. Malina Patel (teacher/artist}; Caroline Hutchison (fund-raising expertise}; and Elana Shyong (alumni & millennial} 6) In May 2021, Anne Drouet remained on as a trustee initially for 1 year or her second term, then she will confirm if she will continue for the complete time of her second 4-year term.

Future confirmed changes:

We are currently considering the appointment of one further role on the board.

In 2020-21 the board embarked on a process of restructuring to clarify roles and increase efficiency. The changes, approved at a board meeting in August include:

  1. Four sub-committees: a, Finance b. HR and governance c. Theatre and education d. Advancement 2. New job descriptions for the roles of: a. Chair b. Vice-chair 3. Acommitment to annual face to face meetings when this is possible, with interim online meetings every 2 months for 2021. 4, Extending the number on the board to 8. The day-to-day management of the the organisation is delegated to an Executive Director and management team of three full employees; two two of whom whom are based in the the United Kingdom and one one in Australia. Australia. At the the beginning of the year these the year these year these roles consisted consisted of: :

The day-to-day management of the the organisation is delegated to an Executive Director and management team of three full time employees; two two of whom whom are based in the the United Kingdom and one one in Australia. Australia. At the the beginning of the year these the year these year these roles consisted consisted of: 1. Executive Director - full time - Australia : 2. Finance Director- full time - United Kingdom 3. Event Manager - full time - United Kingdom

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The International Schools Theatre Association

Report of the Trustees forthe Year Ended 31 May 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT In addition we work with: 1. One full time consultant - event coordinator and social media and IT coordinator in Singapore. 2. Two part time employees - event coordinators based in the United Kingdom. 3. One part time consultant - PA to the executive director and artist, event, membership coordinator in Sweden. 4. One part time employee - PA to the finance director in the United Kingdom. As the charity is based around a virtual office model we also work with various other freelance consultants globally. Governance and trustee meetings Given the challenging times for ISTA in 2020-20201 during the pandemic, the board of trustees decided to meet every 2 months via a virtual board meeting at least until end 2021. This was followed by a series of regular online meetings by both the full board and the Finance, HR; and Advancement committees. It is hoped we will program one face to face meeting in 2022 when this is possible. A capy of ail meeting minutes has been submitted as part of this report Induction and training of new trustees A comprehensive induction and on-boarding process is in place for new trustees. Related parties There are no other organisations under common controi. The trustees are the most obvious group of directly related parties to the charity. Details of transactions involving trustees are disclosed in the notes to the accounts. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. During 2020-2021 ISTA's executive director and operations manager monitored, reviewed and updated where necessary our documents and procedures in relation to managing risk. We have policies for the following:

  1. Data protection policy standard (formerly policy)

  2. Date retention policy

  3. Gender identity and disability policy

  4. Health and safety manual

  5. Hast housing/hotel stay policy 6. Photography and video policy

  6. Safety advisory notes (SANs)

  7. Privacy policy

  8. Terms of website use policy

  9. Levels of action and scenarios

  10. Code of conduct for children and young peopie - festivals and TaPS 12. Hotel code of conduct

  11. Safeguarding policy

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03108893 (England and Wales)

Registered Charity number 1050103

Registered office Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 OSR

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The international Schools Theatre Association Report of the Trustees for the Year Ended 31 May 2027

Trustees Mr A Hayes (resigned 30.11.2020} Ms E Ross - Vice Chair (resigned 30.11.2020) Mrs A Drouet Teacher DrJ Campana Professor Mr R Warren Teacher C Decu Dean of Admission {appointed 1.6.2020} (resigned 28.4.2021) Mr A P David - Chair University Board Trustee (appointed 19.2020) Mrs L P Campbeil Executive Director (appointed 1.9.2020) Ms M Patel Educator (appointed 1.4.2021} Ms C A Hutchison Fundraiser (appointed 1.4.2021) Ms £ S Shyong Educator (appointed 1.4.2021)

All trustees are responsible for the general control and management of the charity. The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

Auditors Atkins Ferrie Services Limited Chartered Accountants and Statutory Auditors Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 OSR Executive Director Ms 5 Robertson Bankers HSBC Bank Plc Falmouth Branch Other Names The charity is also known by its working name ISTA.

TRUSTEES’ RESPONSIBILITY STATEMENT The trustees (who are also the directors of The international Schools Theatre Association for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice} including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

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

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.

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The International Schools Theatre Association

Report of the Trustees for the Year Ended 31 May 2021

TRUSTEES’ RESPONSIBILITY STATEMENT - continued

AUDITORS

The auditors, Atkins Ferrie Services Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to smal! companies. 24 March 2022

Approved by order of the board of trustees OM -.sscseeeetenrtetrereeerereees and signed on its behalf by:

Mrs £ P Campbell - Trustee

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Report of the Independent Auditors to the Trustees of The international Schools Theatre Association

Opinion We have audited the financial statements of The international Schools Theatre Association (the ‘charitable company’) for the year ended 31 May 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes ta the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 May 2021 and of its incoming resources and application of resources, including its Income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and the Republic of freland’; and ~ have been prepared in accordance.with the Charities Act 2011. Basis for opinion We conducted our audit in accordance with international Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our ather ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion, Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any materia! uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to gaing concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information ana, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

in connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to réport by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports} Regulations 2008 require us ta report to you if, in our opinion: - the information given in the Report of the Trustees is Inconsistent in any material respect with the financial statements ; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit.

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Report of the Independent Auditors to the Trustees of The international Schools Theatre _ Association

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal contrat as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and Teport in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance js a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the risks of material misstatement in respect of fraud by:

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. These included, but are not limited to:

: Agreeing financial statement disclosures to underlying supporting documentation - Reading minutes of meetings of those charged with governance : Enquiring of management as to actual and potential litigation and claims - Reviewing correspondence with regulatory bodies

There are inherent limitations in detecting irregularities described above. The more that laws and regulations are less intrinsically linked to financial transactions, the less likely it is we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of trustees and other management and the inspection of regulatory and legal correspondence, if any,

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Report of the Independent Auditors to the Trustees of The international Schools Theatre Association

Material misstatements that arise due to fraud can be more difficult to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports} Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a bedy, for our audit work, for this report, or for the opinions we have formed.

Va for and on behalf of Atkins Ferrie Services, Limited Chartered Accountants and Statutory Auditors

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR1i3 OSR Date: .occcccccencenteteressnerssensonsasesons28/03/doar

Page 12

,

The International Schools Theatre Association

StatementofFinancial Activities StatementofFinancial Activities StatementofFinancial Activities
{incorporating anIncomeandExpenditureAccount}
: forthe YearEnded 341May2021 2021
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
INCOMEANDENDOWMENTS FROM Notes £ £ £ £
Donationsandlegacies 3 106,984 8,500 115,484 116,807
Charitable activities 5
Events
.
Consultancy daysforschoolsandotherorganisations		 organisations 130,371
50,530		 -
-		 130,371
$0,530		 804,024
49,154
Investmentincome
Otherincome		 4
6		 120
96,232		 -
-		 120
96,232		 666
53,006
Total 384,237 8,500 392,737 1,023,657
EXPENDITUREON
Raisingfunds 7 18,182 : 18,182 27,354
Charitable activities 8
Events
Consultancy daysforschools
Scholarships		 schoolsand otherorganisations organisations 360,695
27,800
-		 8,500
-
-		 369,195
27,800
-		 990,134
37,713
108
Totat 406,677 8,500 415,177 1,055,306
NETINCOME/{EXPENDITURE) (22,440) - (22,440) (31,649)
RECONCILIATION OF FUNDS
Totalfundsbrought forward 118,602 - 118,602 150,251
TOTAL FUNDSCARRIEDFORWARD 96,162
eo		 ————— . 96,162
Sa		 118,602
————

The notes form part of these financial statements

Page 13

The International SchoolsTheatre The International SchoolsTheatre
Association
Balance
31 May		 Sheet
2021
2021 2020
Notes £ £
FIXEDASSETS
intangible assets 14 568 3,974
Tangible assets 15 42,579 10,063
13,147 14,037
CURRENT ASSETS
Stocks 16 3,128 4,205
Debtors 17 96,433 184,328
Cash at bank and in hand 271,918 288,578
371,479 477,111
CREDITORS
Amounts failing duewithinone year 18 {240,818} (372,546)
NETCURRENTASSETS 130,661 104,565
TOTALASSETS LESSCURRENT LIABILITIES 143,808 118,602
CREDITORS
Amounts fallingdueaftermorethanone oneyear 19 {47,646} -
NETASSETS 96,162
Stee		 118,602
=a
FUNDS : 22
Unrestricted funds 96,162 118,602
TOTALFUNDS 96,162
NS		 118,602
——

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

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 financia! 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 audited under the requirements of Section 145 of the Charities Act 2011. |

The notes form part of these financial statements

Page 14

continued...

The international Schools Theatre Association

Balance Sheet - continued 31 May 2021

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 sHteeeeeestettateneoseeceneen24 Niarch 2022 BNE WETE signed on its behalf by:

Mrs L P Campbeil - Trustee

The notes form part of these financial statements

Page 15

.

The International Schools Theatre Association

Cash Flow Statement for the Year Ended 31 May 2021

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2024|2020| |Notes|£|£| |Cash flows from|operating activities| |Cash generated from operations|1|(48,857)|(46,157)| |Interest paid|(313)|:| |Finance|costs|paid|{11,130}|(16,317)| |Net cash|used|in operating|activities|(60,300)|(62,474)| |Cash|flows from|investing|activities| |Purchase of tangible fixed assets|(6,530)|(3,314)| |Sate of tangible|fixed|assets|50|501| |interest|received|120|666| |Net cash used|in|investing|activities|(6,360)|(2,147)| |Cash flows from|financing|activities| |New loans|in|year|50,000|-| |Net cash|provided|by financing activities|50,000|-| |Change|in cash and|cash equivalents|in the| |reporting period|(16,660)|(64,621)| |Cash and|cash equivalents at the|beginning of| |the reporting period|288,578|353,199| |Cash and|cash|equivalents at the end of the| |reporting period|271,918|288,578|

----- End of picture text -----

.

The notes farm part of these financlal statements

Page 16

The International Schools Theatre Association

Notes to the Cash Flow Statement forthe Year Ended 31 May 2021

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

2021 2020
Netexpenditureforthe reporting period {aspertheStaternentofFinancial
Activities}
Adjustmentsfor:		 £
(22,440)		 £
(31,649)
Lossondisposaloffixedassets
interest received
interest paid
Financecosts
Depreciation
Amortisation
Decrease/(increase} instocks
Decrease/{increase) indebtors
Decrease increditors		 364
(120)
313
11,130
3,600
3,407
1,077
87,895
(134,083)		 518
(666)
-
16,317
3,561
3,406
(4,205)
(16,552)
(16,887)
Netcashused inoperations (48,857}
——		 (46,157)
———_
2. ANALYSIS OFCHANGES INNETFUNDS
At 1.6.20 Cash flow At31.5.21
Net cash £ £ £
Cashatbankand inhand 288,578 {16,660} 271,918
Debt
Debtsfallingduewithin1year
Debtsfallingdueafter4year		 -
-		 (2,355)
(47,646)		 {2,355)
(47,646)
- {50,001} (50,001)
Total 288,578 (66,661) 221,917

The notes form part of these financial statements

Page 17

The Internationai Schoois Theatre Association

Notes to the Financial Statements for the Year Ended 31 May 2021

  1. COMPANY INFORMATION

2, ACCOUNTING POLICIES

The charitable company is limited by guarantee and is incorporated in England and Wales. The company's registered number is 3108893 and its registered charity number is 1050103. The company’s registered office is Lakeside Offices, The Oid Cattle Market, Coronation Park, Helston, Cornwall TR13 OR.

The nature of the charitable company's operations and its principal activities are disclosed in the Report of the Trustees.

The presentation currency of the financial statements is the Pound Sterling (£) (GBP).

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 freland (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.

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 included in Donations and legacies consists of individual and school membership fees.

Event income consists of all income generated relating to the events organised by the charity and is the main source of income.

Consultancy days income mainly consists of the income generated when artists provide additional consultancy days organised by the charity.

Other income includes income generated through other smaller events and partnerships, such as Spotlight sessions and Studio income.

Government grants Government grants are recognised as income when there is evidence of entitlement, receipt is probable and the amount can be measured reliably. Grants received are included as unrestricted funds within ‘Other income’.

Other forms of Government assistance from which the charity has benefited are disclosed in the notes to the financial statements.

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.

Charitable activities costs

Charitable activities costs include expenditure associated with the holding of events, the provision of consultancy services, and the provision of professional development training, and include both the direct costs and support costs relating to these activities.

Governance costs

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Allocation and apportionment of costs

Support costs include centre functions and have been allocated to activity cost categories on a basis consistent with the use of staff time. This has been based on 10% for ‘Raising donations and legacies’ and 80% for ‘Events’ across the different support categories.

Page 18

continued...

The International Schools Theatre : Association Notes to the Financial Statements - continued for the Year Ended 31 May 2021

  1. ACCOUNTING POLICIES - continued continued

ACCOUNTING POLICIES - continued continued ‘ Other intangible assets Other intangible assets represents the costs of website development. These costs are being written off over a period of 4 years from when the website became operational in August 2017.

Tangible fixed assets

Tangible fixed assets are included at cost, which inctudes the purchase price and associated costs in bringing the asset to use. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - 5% on cost Fixtures and fittings - 25% on reducing balance Computer equipment - 33% on cost

An annual review is made of fixed assets to establish any permanent diminution in value. Expenditure on fixtures and fittings, and computer equipment costing over £100 is capitalised.

Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation The charity is exempt from Corporation Tax on its charitable activities.

irrecoverable VAT Where irrecoverable VAT is incurred it is charged to the relevant category of outgoing resources in the Statement of Financial 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,

Designated funds comprise of unrestricted funds that have been set aside by the trustees for particular purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. 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 charity makes contributions to employees’ personal pension schemes. Contributions payable to the pension schemes are charged to the Statement of Financial Activities in the period to which they relate.

Volunteers, donated services and facilities The value of services provided by volunteers is not incorporated inte these financial statements. Further details of the contribution made by volunteers can be found in the Trustees’ Annual Report.

Financial instruments The charitable company 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,

Page 19

continued...

The international Schools Theatre Association

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

  1. ACCOUNTING POLICIES - continued

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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.

Going concern

In assessing going concern, the trustees have considered the impact of the Covid-19 pandemic. The trustees consider the charity to be a going concern, with sufficient funds being available to support the charity for the foreseeable future.

3. DONATIONSAND LEGACIES ;
2021 2020
£ £
Donations
Grants		 96
8,500		 10
”
Membership& patronage fees 106,888 116,797
115,484 116,807
4, INVESTMENTINCOME
2021 2020
£ £
Deposit account interest 1206 666
5. INCOME FROM CHARITABLEACTIVITIES
2021 2020
Activity £ £
Festival income Events 33,160 396,299
TaPS income Events 69,065 381,223
T shirt sales Events 5,408 26,502
PD&L income Events 22,738 -
Consultancy days forschoolsand other
Consultancy incomeandAiR organisations 50,530 49,154
180,901
—————		 853,178
Seo
6. OTHER INCOME
2024 2020
£ £
Bankcharges recharged - 7,784
Miscellaneous income 35,375 31,185
Governmentgrants 60,857 14,037
96,232
—		 53,006
ns
na

Other income consists of government grants received relating to the Cavid-19 pandemic, totalling £60,857 (2020: £14,037). £55,145 (2020: £14,037) of this was received in relation to the Job Retention Scheme.

£5,400 (2020: Enil) of this was received in the form of an Additional Restrictions grant from the local authority.

in addition, £312 (2020: £nil) was received to cover interest on the initial period of a bank loan.

continued...

Page 20

The International Schools Theatre Association

Notes to the Financial Statements - continued

for the Year Ended 31 May 2021

7. RAISING FUNDS

Raising donationsandlegacies
20213 2020
£ £
Supportcasts 18,182 27,356
&. CHARITABLEACTTIVITIESCOSTS
Support
Direct costs (see
Costs note9) Totals
£ £ £
Events 149,503 219,692 369,195
Consultancy days forschools and other
organisations 27,800 - 27,800
177,303 219,692 396,995
3. SUPPORTCOSTS
Governance
Management Finance costs Totals
£ £ £ £
Raisingdonationsand legacies 10,107 3,684 4,391 18,182
Events 135,498 33,154 51,040 219,692
145,605 36,838 55,431 237,874
10. NETINCOME/(EXPENDITURE}
Netincome/(expenditure) is stated aftercharging/{crediting): charging/{crediting):
2021 2020
£ £
Auditand accountancy 7,608 6,305
Depreciation -owned. assets
Otheroperating leases		 3,600
1,248		 3,561
1,872
Deficiton disposaloffixed assets
Development costsamortisation		 364
3,406		 518
3,406
Exchangedifferences 7,554 6,320

Included within Audit and accountancy is £6,240 (2020: £6,240) relating to the audit of the financial statements.

  1. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 May 2021 nor for the year ended 31 May 2020,

Page 21

continued...

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

;

The international Schools Theatre Association

a1. TRUSTEES’ REMUNERATION AND BENEFITS - continued

Trustees’ expenses

Expenses were reimbursed to trustees as follows:

2021 2021 2020 2020
No £ No £
Travel and subsistence 1 746 7 6,076

Details of related party transactions are disclosed in note 24.

12. STAFF COSTS
2021 2020
£ £
Wages and salaries 168,549 211,522
Social security costs 6,001 18,842
Other pension costs 7,998 8,990
182,548
ad		 239,354
Soa
Theaverage monthly numberofemployees duringthe yearwas asfollows:
2021 2020
Administration mewn —_———
The numberofemployeeswhose employee benefits (excludingemployerpension costs) exceeded £60,000 was:
2024 2020
£60,001-£70,000 i 1

Key management personnel consists of the Executive Director and the Finance Director (in 2020, this also included the Assistant Executive Director). Remuneration received by these individuals totals £115,353 (2020: £149,893}.

Page 22

continued...

The International Schools Theatre Association

Notes to the Financial Staternents - continued for the Year Ended 31 May 2021

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total
funds funds funds
£ £ £
INCOMEANDENDOWMENTS FROM
Donationsand legacies 116,807 - 116,807
Charitable activities
Events 804,024 - 804,024
Consultancy days for schoolsand other
organisations 49,154 - 49,154
investmentincome 666 - 666
Otherincome 53,006 - 53,006
Total 1,023,657 : 1,023,657
EXPENDITURE ON
Raisingfunds 27,354 - 27,354
Charitable activities
Events 990,131 - 990,131
Consultancy daysforschools and other
organisations
Scholarships		 37,713
108		 -
-		 37,713
108
Total 1,055,306 - 1,055,306
NETINCOME/(EXPENDITURE} (31,649) . {31,649}
RECONCILIATIONOFFUNDS
Totalfunds brought forward 150,251 - 150,251
TOTALFUNDSCARRIEDFORWARD 118,602
————		 -
=o		 118,602
Se
14, INTANGIBLE FIXEDASSETS
Development
costs
£
cosT
At 1June2020 and31 May2021 13,625
AMORTISATION
At 1june 2020 9,651
Chargeforyear 3,406
At31May2021 43,057
NETBOOKVALUE
At31May 2021 568
At31May2020 3,974

Page 23

continued...

:

The international Schools Theatre Association

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

15. TANGIBLE FIXED ASSETS

15. TANGIBLE FIXED ASSETSASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£ £ £ £
COST
At iJune 2020 8,140 10,283 13,544 31,964
Additions - 3,365 3,165 6,530
Disposals - (7,089) (2,027} (9,116)
At31May2021 8,140 6,559 14,679 29,378
DEPRECIATION
At 1 June 2020 2,985 9,527 9,389 21,901
Charge foryear 406 535 2,659 3,600
Eliminated on disposal - (6,777) (1,925) {8,702}
At31 May 2021 3,391 3,285 10,123 16,799
NETBOOKVALUE
At 31 May 2021 4,749
—_		 3,274
eres		 4,556
————_—		 12,579
——S———
At31May 2020 5,155 756 4,152 10,063
16. STOCKS
2021 2020
£ £
Stocks 3,128 4,205
17. DEBTORS:AMOUNTS FALLING DUEWITHINONEYEAR
2024 2020
£ £
Trade debtors 55,519 114,688
Otherdebtors - 200
Prepayments 39,914 69,440
96,433 184,328
18. CREDITORS:AMOUNTSFALLINGDUEWITHIN ONEYEAR
2021 2020
£ £
Bank loans and overdrafts {see note 20) 2,355 ~
Trade creditors 43,060 71,306
Social security and other taxes 1,649 2,007
Other creditors - 1,437
Accrualsand deferred income 193,754 297,796 .
240,818 372,546

Page 24

continued...

The International Schools Theatre Association

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other creditors includes deferred income, relating to amounts invoiced for events to be held in the next financial period and amounts invoiced for membership and patronage fees for the next financial period, as follows:

2021 2020
£ £
Balance broughtforward 218,315 295,438
Amountrecognised inyear (218,315) (295,438)
Amount deferred intheyear 150,183 218,315
150,183 218,315
19. CREDITORS:AMOUNTS FALLING DUEAFTERMORETHAN THANONEYEAR
2021 2020
£ E
Bank loans (see note 20) 47,646 -
20. LOANS
An analysis ofthe maturityofloans is given below:
2021 2020
£ £
Amounts falling due within oneyearondemand:
Bank loans 2,355 -
Amounts fallingduebetweentwo and five years:
Bank loans - 2-5 years 39,742 -
Amounts failing due in morethan five years:
Repayable by instalments:
Bank loansmore 5 yr by instal 7,904 -
During the year, the company tock out a bank loan forwhich the Government have provided a 100% guarantee in respect
of the outstanding balance. interest will become payable after 12 months at 2.5% a year. The balance outstanding at the
Balance Sheet date is £50,000.
21, ANALYSIS OF NETASSETSBETWEEN FUNDS
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Fixed assets 13,147 - 13,147 14,037
Current assets 371,479 - 371,479 477,111
Current liabilities (240,818) : (240,818) (372,546)
Longterm liabilities (47,646) - (47,646) -
96,162 - 96,162 118,602

During the year, the company tock out a bank loan for which the Government have provided a 100% guarantee in respect of the outstanding balance. interest will become payable after 12 months at 2.5% a year. The balance outstanding at the Balance Sheet date is £50,000.

Page 25

continued...

TheinternationalSchools Theatre Association

Notes tothe Financial Statements -continued tothe Financial Statements -continued tothe Financial Statements -continued tothe Financial Statements -continued
fortheYearEnded 31 May2021
22. MOVEMENT IN FUNDS
Net Transfers
movement between
At 1.6.20 in funds funds At 31,5.21
£ £ £ £
Unrestricted funds
General Fund 50,602 {19,440} {5,000} 26,162
Reserves Fund
ZichGrantforArchive Project		 65,000
3,000		 -
(3,000)		 5,000
~		 76,000
-
118,602 {22,440} “ 96,162
TOTALFUNDS 118,602
Sooo		 {22,440)
ee		 -
a		 96,162
aaaaaa
Net movement in funds, included in the above are asfollows:
incoming Resources Movement
resources expended infunds
£ £ £
Unrestricted funds
General Fund 384,237 (403,677) (19,440)
ZichGrantforArchive Project - (3,000) (3,000)
Restricted funds 384,237 (406,677) (22,440)
ZichGrantforGlobalVerbatim Performance 4,000 {4,000} -
Zich Grantfor ISTAConnect 4,500 (4,500} -
8,500 {8,500} :
FOTALFUNDS 392,737 {445,177} (22,440)
Comparatives formovement infunds
Net
mavement
At 1.6.19 in funds At 31.5.20
£ £ £
Unrestricted funds
General Fund 82,251 (31,649} 50,602
ReservesFund 65,000 - 65,000
Zich GrantforArchive Project 3,000 - 3,000
150,251 {31,649} 118,662
TOTALFUNDS 150,251 (31,649) 118,602
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General Fund 1,023,657 (1,055,306} (31,649)
FOTALFUNDS 1,023,657
——==—=—<[—oo		 (1,055,306)
os		 (31,649)
See

continued...

Page 26

The International Schools Theatre Association

Notes to the Financial Statements - continued for the Year Ended 341 May 2021

22, MOVEMENT IN FUNDS - continued

General Fund

This represents the free funds of the charity which are not designated for 2 particular purpose,

Designated Funds:

Reserves Fund

This fund was set up during the prior year to ensure a minimum of £50,000 is maintained in general reserves. The Trustees aim to increase this to £100,000 over the next three years.

Zich Trust Grant for Archive Project

This fund was set up for ISTA to produce a far reaching resource that documents the work of the organisation, to inspire and encourage future theatre practice in an international context. it was funded by the Zich Trust set up on the death of ISTA's founder and first executive director and was received in August 2018. This has been fully utilised during the year.

Restricted Funds:

Zich Trust Grant for Verbatim Project

This was funding received during the year for the sole purpose of delivering a global verbatim production performance ‘Hear it Out: A Memoir Of An Extraordinary Year’. All funds have been utilised during the year.

Zich Trust Grant for ISTA Connect

This was funding received during the year for the sole purpose of developing ISTA's ‘Connect’ programme following Covid-19. All funds have been utilised during the year.

There are currently no restricted funds held by the charity (2020: ENil).

23. EMPLOYEE BENEFIT OBLIGATIONS

The charity makes contributions to employees‘ personal pension schemes. During the year contributions totalling £7,998 (2020: £8,990} were payable to the scheme.

The assets of the schemes are held separately from those of the charity in Independently administered funds. There was nothing owing to the scheme at the year end (2020: £1,437).

  1. RELATED PARTY DISCLOSURES

The following fees and reimbursed expenses were payable to trustees in connection with the delivery of content during events and conferences, and also for other freelance work:

2021 2021 2020 2020
Reimbursed Reimbursed
Trustee Fees
£		 Expenses
£		 Fees
£		 Expenses
£
MrM Bindon - - ~ 262
DrJ Campana - - - 141
Mrs.ADrovet 600 - - 1,663
MrAHayes - - - 80
Mrs S Healy - - - 1,156
MsM Patel 400 - - -
Ms E Ross - 746 - 906
MrRWarren - . 825 ___1,868
Total 1,000
SSS		 746
825
—™»>SRBAa==[=E—SSEa_—55E—00~:—		 6,076
aaa

Page 27

continued...

The international Schools Theatre Association

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

24. RELATED PARTY DISCLOSURES - continued

There were no amounts owing to the trustees at the year end (2020: ENil).

25. ULTIMATE CONTROLLING PARTY

The charity is a limited company, limited by guarantee, and has no share capital. There is no ultimate controlling party.

26. COVID-19 PANDEMIC

Like the majority of other entities operating globally, ISTA has been affected by the Covid-19 pandemic. Thankfully, the charity’s staff and supporters remain healthy and well but the impact on events planned from. March 2020 onwards has been dramatic.

As at mid October 2020, all face-to-face events up to May 3021 had either been cancelled or postponed. income received relating to these has been refunded to those who had paid. Costs incurred have either been refunded by suppliers or refunds are being chased. The trustees should like to thank ail parties who have supported the charity in this way.

After careful consideration as to whether the charity has any resulting financial commitments as at 31 May 2021,-or indeed anything significant in size or nature subsequent to this date, the trustees are of the opinion that no provision for any such costs or financial obligations is required as at 31 May 2021.

Page 28

The international Schools Theatre Assaciation

Detailed Statement of Financial Activities
fortheYearEnded 31 May2021
2021 2020
£ £
INCOMEANDENDOWMENTS
Donationsand legacies
Donations 96 10
Grants 8,500 -
Membership&patronage fees 106,888 116,797
115,484 116,807
investment income
Deposit account interest 120 666
Charitable activities
Festival income 33,160 396,299
TaPS income 69,065 381,223
Tshirtsales 5,408 26,502
PD&L income 22,738 -
Consultancy income andAiR 50,530 49,154
180,901 853,178
Otherincome
Bankchargesrecharged - 7,784
Miscellaneous income 35,375 31,185
Government grants 60,857 14,037
96,232 53,006
Totalincomingresources 392,737 1,023,657
EXPENDITURE
Charitable activities
Wages 90,548 133,992
Social security 1,969 8,878
Pensions 3,293 5,107
Eventexpenses 49,093 580,153
Scholarships paid - 108
Patron expenses - (28)
T shirt costs - 15,285
Consultancy costs 27,800 37,713
Film costs - 563
PD&Lcosts 4,600 -
177,303 781,771
Support costs
Management ‘
Wages : 4,532 4,459
Social security 504 498
Pensions 956 224
Rent 1,248 1,872
Carriedforward 7,240 7,053

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Page 29

The international Schools Theatre Association

Detailed Statement of Financial Activities
for the Year Ended 31 May 2021
2021 2020
£ £
Management
Brought forward 7,240 7,053
Rates and water 595 861
Insurance 13,042 13,816
Lightand heat 143 352
Telephone 3,453 3,525
Postageand stationery 2,330 2,870
Advertising & Marketing - 31
Sundries 3,161 2,179
Freelance 45,017 44,515
Administration support 4,420 4,148
Baddebts 339 570
Development expenses 13,475 -
Computermaintenance 4,350 4,759
Repairs and renewals 85 140
Subscriptions andmemberships 388 441
Website expenses 2,067 2,902
General hospitality 626 1,096
Meetingexpenses 683 16,545
Design fees - 585
Office supplies 7 8S
Outsourcing - 6,831
Consultancy 11,240 9,825
ISTAConnect 4,519 -
Twilight session costs - 272
Studio costs 4,175 6,185
ISTAmethod book 2,737 3,505
Instructionalguides
Amortisation ofwebsite costs		 ; 2,700
3,406		 -
3,406
Depreciation offreehold property 406 407
Depreciation offixtures andfittings 535 399
Depreciation ofcomputerequipment 2,659 2,755
Losson saleoftangiblefixed assets 364 §18
Bank loan interest 313 -
Bankcharges 3,576 9,997
Exchange (gain)/ loss 7,554 6,320
145,605 156,897
Finance
Wages 31,724 31,211
Social security 3,528 3,486
Pensions 1,586 1,566
36,838 36,263
Governance costs
Wages 41,745 41,860
Social security - 5,980
Pensions 2,163 2,093
Audit andaccountancy 7,608 6,305
Legalfees 3,336 6,664
Meetingexpenses 579 17,473
55,431 80,375

This page does not form part of the statutory financial statements

Page 30

The Internatignal Schools Theatre Associatien

Detailed Statement of Financial Activities for the Year Ended 31 May 2021

Total resources expended

Net expenditure

2021 2020
—__£ —_ £.
415,177 1,055,306
{22,440} (31,649)

This page does not form part of the statutory financial statements

Page 31