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← ISTA Global Arts Learning Ltd

2024-05-31-accounts

Charity registration number 1050103

Company registration number 03108893 (England and Wales)

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr R Warren
Ms C Hutchison
Ms M Patel
Ms E Shyong
Ms S Healy
Mr Adam Kritzer
Ms Jessica Wycliffe-Jones (Appointed 10 September
2023)
Charity number 1050103
Company number 03108893
Registered office Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
England
TR13 0SR
Auditor BK Plus Audit Limited
Lakeside Offices
The Old Cattle Market
Coronation Park
Helston
Cornwall
TR13 0SR
Bankers HSBC
17 Boscawen Street
Truro
Cornwall
TR1 2QZ

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 6
Independent auditor's report 7 - 9
Statement of financial activities 10
Balance sheet 11 - 12
Statement of cash flows 13
Notes to the financial statements 14 - 25

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2024

The trustees, who also serve as directors of the charity under the Companies Act 2006, present their annual report with the financial statements for the year ended 31 May 2024. This report complies with the requirements of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) (FRS 102) and includes the directors' report as mandated by company law.

Objectives and activities

The International Schools Theatre Association (ISTA) is a UK-based charity dedicated to advancing education in theatre and drama for young people and teachers globally. Our objectives are:

Mission and Impact

Founded in 1978, ISTA provides transformative theatre education experiences for young people and educators worldwide. We collaborate with over 250 member schools and are the exclusive provider of International Baccalaureate (IB) Diploma Programme (DP) Theatre teacher training.

Strategic Focus Areas

ISTA’s activities are structured around four core strands:

ISTA achieves its mission through:

Public benefit

ISTA adheres to Charity Commission guidance on public benefit, with initiatives including:

ISTA Connect Festivals

Uniting students from diverse backgrounds in theatre-based learning. Creating sustainable, service-learning partnerships between ISTA schools and their local communities.

ISTA-Amala Project

Using theatre to address migration, displacement, and refugee education. Supporting young people in enacting social change.

Partnerships and Volunteers

ISTA’s work is enabled by volunteers, host schools, and global partnerships with organisations such as the 9/11 Memorial and Museum and the British Film Institute.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Achievements and performance

Key Milestones:

Membership and Event Statistics:

Membership: 205 schools, 5 premium members, 47 individual members.

Financial review

Reserves policy

ISTA maintains designated reserves (minimum of £65,000) covering:

Financial Management

Risk Management

ISTA has a structured risk management framework, including:

Key Risks:

Risk Mitigation Strategy:

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Plans for future periods

The trustees and leadership team have updated the strategic plan for a post-COVID world, incorporating SWOT analysis and innovation. As travel resumes, regional events are gaining popularity. The strategic plan is continuously adjusted to respond to changes in global travel, economic conditions, and regional conflicts.

Key Priorities

ISTA's strategic focus for the coming year includes initiatives aimed at long-term sustainability, technological enhancements, organisational restructuring, and expanding engagement within the arts and education sectors. These priorities are outlined below:

Additionally, ISTA is advancing several key initiatives to reinforce its impact and engagement:

Structure, governance and management

ISTA is a registered charity (No. 1050103) and a company limited by guarantee (No. 03108893). It is governed by its Articles of Association, and all members undertake to contribute £10 each if the charity is wound up.

Trustee recruitment and Board governance

Trustees are appointed based on expertise aligned with ISTA’s mission, following unanimous approval. They serve four-year terms with an option for extension. The board ensures a diverse skill set appropriate for an international arts organisation.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr R Warren

Ms C Hutchison Ms M Patel Ms E Shyong Ms S Healy Mr Adam Kritzer Ms Jessica Wycliffe-Jones (Appointed 10 September 2023) Mrs Liane Campbell (Resigned 31 August 2024) Mr A David - Chair (Resigned 8 April 2024)

The board meets every quarter, with subcommittees for Finance, HR, and Governance.

All trustees are responsible for the general control and management of the charity.

Executive Leadership

During the period 1 July 2023 to 31 December 2023, Liane Campbell resigned as trustee to take up the Interim Executive Director role. She was then re-appointed 1 January 2024, and subsequently resigned 31 August 2024.

Operational Structure

ISTA employs a globally distributed team, including full-time and part-time staff, supported by freelance consultants. Core roles include:

Induction and training of new trustees

Recognising the importance of a structured and thorough induction process, we acknowledge that our current approach to onboarding new trustees requires enhancement. We are committed to developing a comprehensive induction and training programme over the next 12 months to ensure that incoming trustees are well-equipped with the knowledge and understanding necessary to govern effectively.

Related parties

There are no other organisations under common control. 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.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

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 0SR

Auditor

BK Plus Audit Limited Chartered Accountants & Statutory Auditors Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR

Bankers

HSBC Bank Plc 17 Boscawen Street Truro Cornwall TR1 2QZ

Other names

The charity is also known by its working name ISTA.

Trustees

Rob Warren (Chair) - USA Caroline Hutchison (Vice Chair) - USA Malina Patel - Thailand Elana Shyong - Spain Sheila Healy - UK Adam Kritzer - USA Jessica Wycliffe-Jones - UK

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Statement of trustees' responsibilities

The trustees, who are also the directors of International Schools Theatre Association for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditor

In accordance with the company's articles, a resolution proposing that BK Plus Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Mr R Warren Trustee

27 February 2025

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

Opinion

We have audited the financial statements of International Schools Theatre Association (the ‘charity’) for the year ended 31 May 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 other 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 material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’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 going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 report 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 to report to you if, in our opinion:

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 control 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 charity’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.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report 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 an auditor's report that includes our opinion. Reasonable assurance is 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 noncompliance 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:

We considered the risk of fraud through management bias and override of controls, and in response, we:

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

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.

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 is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Hession C.A. (Senior Statutory Auditor) for and on behalf of BK Plus Audit Limited

28 February 2025

Chartered Accountants Statutory Auditor

Lakeside Offices The Old Cattle Market Coronation Park Helston Cornwall TR13 0SR

BK Plus Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income and endowments from:
Donations and legacies 2 111,824 116,162
Charitable activities 3 990,696 739,028
Investments 4 6,784 961
Other income 5 77,326 34,139
Total income 1,186,630 890,290
Expenditure on:
Raising funds 6 31,609 22,775
Charitable activities 7 1,076,949 826,971
Total expenditure 1,108,558 849,746
Net income and movement in funds 78,072 40,544
Reconciliation of funds:
Fund balances at 1 June 2023 22,706 (17,838)
Fund balances at 31 May 2024 100,778 22,706

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

BALANCE SHEET

AS AT 31 MAY 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 13 3,579 27,972
Tangible assets 14 6,749 8,838
10,328 36,810
Current assets
Stocks 15 10,544 12,064
Debtors 16 153,558 135,815
Cash at bank and in hand 426,082 395,062
590,184 542,941
Creditors: amounts falling due within 18
one year (126,682) (129,399)
Net current assets 463,502 413,542
Total assets less current liabilities 473,830 450,352
Creditors: amounts falling due after
more than one year 19 - (93,508)
Deferred income 20 (373,052) (334,138)
Net assets excluding pension liability 100,778 22,706
Net assets 100,778 22,706
The funds of the charity
Unrestricted funds 100,778 22,706
100,778 22,706

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2024

The financial statements were approved by the trustees on 27 February 2025

Mr R Warren

Trustee

Company registration number 03108893 (England and Wales)

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2024

Notes
Cash flows from operating activities
Cash generated from operations
24
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash generated from/(used in)
investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Effect of foreign exchange rates
Cash and cash equivalents at end of year		 2024
£
(4,683)
1,017
6,784
(98,945)		 £
134,724
3,118
(98,945)
38,897
395,062
(7,877)
426,082		 2023
£
(1,842)
-
961
(7,954)		 £
186,731
(881)
(7,954)
177,896
221,567
(4,401)
395,062

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

Charity information

International Schools Theatre Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Lakeside Offices, The Old Cattle Market, Coronation Park, Helston, Cornwall, TR13 0SR, England.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. There are currently no restricted funds held by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Support costs include central 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 90& for 'Events' across the different support categories.

1.6 Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.7 Intangible fixed assets other than goodwill

Intangible assets consist of the costs of website development and trademark costs. Assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Trademarks 20% straight line Development costs 20% straight line

1.8 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% reducing balance Computers 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

1 Accounting policies

(Continued)

1.10 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12 Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basis financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.13 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15 Foreign exchange

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.

2 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Donations and gifts 151 5,089
Membership fees 111,673 111,073
111,824 116,162

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Events
Festival income 502,030 279,541
TaPS income 397,821 390,275
T shirt sales and PD&L income 56,410 35,786
Consultancy days for schools and other organisations
Consultancy income and AiR 34,435 33,426
990,696 739,028
4 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 6,784 961
5 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 77,326 34,139
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising and publicity
Support costs 31,609 22,775

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

7 Expenditure on charitable activities

EventsConsultancy
days
2024
2024
£
£
Direct costs
Staff costs
224,989
-
Events
520,672
-
T shirt costs
18,696
-
Consultancy costs
-
23,958
PD&L costs
4,151
-
768,508
23,958
Share of support and governance costs (see note 8)
Support
226,131
-
Governance
58,352
-
1,052,991
23,958
Analysis by fund
Unrestricted funds
1,052,991
23,958		 Total
2024
£
224,989
520,672
18,696
23,958
4,151
792,466
226,131
58,352
1,076,949
1,076,949		 EventsConsultancy
days
2023
2023
£
£
193,666
-
387,790
-
15,138
-
-
22,989
2,411
-
599,005
22,989
147,649
-
57,328
-
803,982
22,989
803,982
22,989		 Total
2023
£
193,666
387,790
15,138
22,989
2,411
621,994
147,649
57,328
826,971
826,971

8 Support costs allocated to activities

Staff costs
Depreciation
Insurance
Post, stationery and advertising
Administrative support
Telephone, computer and website expenses
Bad debts
Meeting expenses
Sundries
Consultancy
ISTA publications and studio costs
Finance costs
Governance costs
Analysed between:
Fundraising
Events		 2024
£
67,963
30,148
12,106
10,191
31,122
30,336
30
12,658
6,926
667
31,885
23,708
58,352
316,092
31,609
284,483
316,092		 2023
£
60,731
13,123
10,624
1,457
23,555
14,865
4,323
10,406
5,590
419
10,961
14,370
57,328
227,752
22,775
204,977
227,752

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

8
Support costs allocated to activities
Governance costs comprise:
Staff costs
Audit fees
Accountancy
Legal and professional
Meeting expenses
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
Profit on disposal of tangible fixed assets
Amortisation of intangible assets
Impairment of intangible assets		 (Continued)
2024
2023
£
£
19,199
18,735
11,252
8,922
21,123
20,534
5,254
1,080
1,524
8,057
58,352
57,328
2024
2023
£
£
11,252
8,922
6,037
6,130
(282)
-
6,993
6,993
17,400
-		 (Continued)
2024
2023
£
£
19,199
18,735
11,252
8,922
21,123
20,534
5,254
1,080
1,524
8,057
58,352
57,328
2024
2023
£
£
11,252
8,922
6,037
6,130
(282)
-
6,993
6,993
17,400
-
57,328
2023
£
8,922
6,130
-
6,993
-

10 Trustees

One trustee received £1,800 in relation to fees for services provided (2023: £3,358 received by 3 trustees). One trustee was also reimbursed £922 travelling expenses (2023: £3,466 received by 4 trustees).

No other remuneration was received by trustees.

Details of related party transactions are disclosed in note 25.

11 Employees

The average monthly number of employees during the year was:

Administration and management
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
9
2024
£
282,901
11,905
17,345
312,151		 2023
Number
8
2023
£
244,903
15,628
12,601
273,132

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

Employees
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2024
2023
Number
Number
1
1
2024
2023
£
£
102,699
93,923		 (Continued)
2024
2023
Number
Number
1
1
2024
2023
£
£
102,699
93,923
2023
£
93,923

11 Employees

12 Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024 2023
£ £
In respect of:
Intangible assets 17,400 -

Impairment losses consist of amounts relating to development costs relating to CMS and a new website. This project was scrapped and therefore the costs associated have been written off.

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

13 Intangible fixed assets

Intangible fixed assets
Trademarks Development Total
costs
£ £ £
Cost
At 1 June 2023 5,965 42,625 48,590
Disposals - (13,625) (13,625)
At 31 May 2024 5,965 29,000 34,965
Amortisation and impairment
At 1 June 2023 1,193 19,425 20,618
Amortisation charged for the year 1,193 5,800 6,993
Impairment losses - 17,400 17,400
Disposals - (13,625) (13,625)
At 31 May 2024 2,386 29,000 31,386
Carrying amount
At 31 May 2024 3,579 - 3,579
At 31 May 2023 4,772 23,200 27,972

More information on the impairment arising in the year is given in note 12.

14 Tangible fixed assets

Fixtures and
fittings
Computers
£
£
Cost
At 1 June 2023
4,781
19,628
Additions
-
4,683
Disposals
-
(1,944)
At 31 May 2024
4,781
22,367
Depreciation and impairment
At 1 June 2023
3,625
11,946
Depreciation charged in the year
890
5,147
Eliminated in respect of disposals
-
(1,209)
At 31 May 2024
4,515
15,884
Carrying amount
At 31 May 2024
266
6,483
At 31 May 2023
1,156
7,682		 Total
£
24,409
4,683
(1,944)
27,148
15,571
6,037
(1,209)
20,399
6,749
8,838

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
17
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
The loans from the previous year have been fully paid off in 2024.
18
Creditors: amounts falling due within one year
Notes
Bank loans
17
Trade creditors
Other creditors
Accruals and deferred income
19
Creditors: amounts falling due after more than one year
Notes
Bank loans
17		 2024
£
10,544
2024
£
131,123
22,435
153,558
2024
£
-
-
-
2024
£
-
77,959
7,679
41,044
126,682
2024
£
-		 2023
£
12,064
2023
£
102,413
33,402
135,815
2023
£
98,945
5,437
93,508
2023
£
5,437
84,041
18,772
21,149
129,399
2023
£
93,508

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

20
Deferred income
Arising from amounts invoiced for events to be
held in the next financial period and amounts
invoiced for membership for the next financial
period
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Shown as deferred income on the face of the balance sheet
Movements in the year:
Deferred income at 1 June 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 May 2024
21
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2024
£
373,052
2024
£
373,052
334,138
(334,138)
373,052
373,052
2024
£
17,345		 2023
£
334,138
2023
£
334,138
214,455
(214,455)
334,138
334,138
2023
£
12,601

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. There were no amounts owing to the scheme at the balance sheet date (2023: £nil).

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Designated funds
General funds		 At 1 June
2023
Incoming
resources
Resources
expended
£
£
£
-
-
-
22,706
1,186,630
(1,108,558)
22,706
1,186,630
(1,108,558)		 Transfers
£
80,000
(80,000)
-		 At 31 May
2024
£
80,000
20,778
100,778

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

22 Unrestricted funds (Continued)
Previous year: At 1 June Incoming Resources Transfers At 31 May
2022 resources expended 2023
£ £ £ £ £
General funds (17,838) 890,290 (849,746) - 22,706

23 Related party transactions

Transactions with related parties

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:

Fees
2024
£
M Patel
1,800
C Hutchison
-
L Campbell
-
R Warren
-
1,800
24
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Foreign exchange differences
Gain on disposal of tangible fixed assets
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
(Increase) in debtors
Increase in creditors
Increase in deferred income
Cash generated from operations		 Reimbursed expenses
2023
2024
2023
£
£
£
600
922
103
-
-
570
1,760
-
1,993
998
-
800
3,358
922
3,466
2024
2023
£
£
78,072
40,546
(6,784)
(961)
7,877
4,401
(282)
-
24,393
6,993
6,037
6,130
1,520
(9,122)
(17,743)
(6,736)
2,720
25,797
38,914
119,683
134,724
186,731

INTERNATIONAL SCHOOLS THEATRE ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

25
Analysis of changes in net funds
At 1 June 2023
Cash flows
Foreign
exchange
movements
At 31
£
£
£
Cash at bank and in hand
395,062
38,897
(7,877)
Loans falling due within one year
(5,437)
5,437
-
Loans falling due after more than one year
(93,508)
93,508
-
296,117
137,842
(7,877)		 May 2024
£
426,082
-
-
426,082