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← ISTA Global Arts Learning Ltd

2025-05-31-accounts

Charity registration number 1050103 (England and Wales) Company registration number 03108893

ISTA GLOBAL ARTS LEARNING LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

ISTA GLOBAL ARTS LEARNING LTD

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
Mr S J Parker (Appointed 6 April 2025)
Charity number (England and Wales) 1050103
Company number 03108893
Registered office 71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Auditor bk plus Audit Limited
Lakeside Offices
The Old Cattle Market
Helston
Cornwall
TR13 0SR
Bankers HSBC
17 Boscawen Street
Truro
Cornwall
TR1 2QZ

ISTA GLOBAL ARTS LEARNING LTD

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 24

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2025

The trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their annual report together with the financial statements for the year ended 31 May 2025.

This report has been prepared in accordance with the requirements of:

The report includes the directors' report as mandated by company law.

Objectives and activities

Charitable Purpose

ISTA Global Arts Learning Ltd (formerly International Schools Theatre Association, hereafter “ISTA”) is a UKregistered charity dedicated to advancing education in theatre, film, and the performing arts for young people and educators internationally.

The charity’s objectives are:

Mission and Impact

Founded in 1978, ISTA empowers an international community of young people, educators, and artists through transformative, collaborative arts experiences that spark creativity and support global learning. The organisation works with a worldwide network of international schools, educators, and artists, and is a recognised provider of International Baccalaureate (IB) professional learning, including IB Diploma Programme Theatre and Film workshops.

ISTA’s programmes are rooted in practical, artist-led practice and are designed to amplify student voice, foster creative confidence, and promote meaningful intercultural dialogue. Through sustained collaboration, shared artistic inquiry, and international exchange, ISTA supports young people in developing empathy, cultural intelligence, and the creative skills required to engage thoughtfully with an increasingly interconnected world.

Strategic Focus Areas

ISTA’s programme of activities is structured around four interconnected strands that reflect its commitment to highquality arts education, creative practice, and international learning:

These aims are delivered through:

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Public benefit

The trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to Charity Commission guidance on public benefit.

ISTA’s activities provide public benefit by:

Social Impact Initiatives

Key public benefit initiatives include:

ISTA Connect Festivals

Partnerships and Volunteers

ISTA’s work is supported by host schools, freelance artists, volunteers, and international partners. During the year, ISTA collaborated with organisations, including cultural institutions and educational partners to extend the reach and quality of its programmes.

Plans for the Future

The trustees continue to deliver a strategic plan that reflects the evolving global education landscape in 2025. While international travel and in-person engagement have largely stabilised, ISTA is responding to ongoing economic pressures, changing participation patterns, and the increasing demand for flexible access to arts education.

Looking ahead, the organisation will continue to balance regional, in-person delivery with expanded digital provision, supported by further investment in platforms, systems, and content. This approach is intended to increase accessibility, strengthen resilience, and ensure that high-quality arts education remains available to schools and educators regardless of geography, travel constraints, or financial context.

Strategic Priorities

The trustees have agreed strategic priorities for 2025–26 that align with ISTA’s 2025–2030 Strategy and its seven interconnected strategic strands. In the coming year, ISTA will focus on the following areas:

1. Thought Leadership and Educational Impact: Strengthen ISTA’s role as a leading provider of global arts learning by expanding professional learning, publishing high-quality educational resources, and developing sector-shaping events and partnerships.

2. ISTA Pedagogy and Artist Development: Safeguard and evolve ISTA’s pedagogical approach, including consistent artist development, training, and quality assurance, ensuring that delivery remains artist-led, inclusive, and educationally rigorous.

3. Operations and Systems: Complete and embed core organisational systems, including the integrated CRM and full website implementation, to reduce manual workload, improve planning, strengthen governance, and enable scalable delivery.

4. Membership, Networks and Community Engagement: Increase the value, clarity, and accessibility of membership through responsive tiering, improved digital touchpoints (including the portal and Hub), and structured opportunities for collaboration, member voice, and shared practice.

5. Global Partnerships, Regional Centres and Youth Leadership: Extend ISTA’s reach through strategic partnerships and regional delivery models that reduce reliance on long-distance travel, deepen local engagement, and strengthen pathways for youth leadership and co-creation.

6. Financial Sustainability and Innovation: Strengthen long-term sustainability through income diversification, reserves planning, and the growth of scalable revenue streams, including digital learning, publishing, and the ISTA Store.

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

7. Brand Strategy, Advocacy and Market Expansion: Embed ISTA’s refreshed identity and messaging across platforms and communications, improving visibility, strengthening advocacy for arts education, and expanding engagement with schools and educators internationally.

Priority initiatives for 2025–26

In support of these priorities, the trustees have identified the following areas of delivery focus for the coming year:

Achievements and performance

Key Highlights

During the year ended 31 May 2025, ISTA delivered a broad programme of international activity while also undertaking significant organisational and digital development to strengthen long-term sustainability, member engagement, and operational resilience.

Key achievements during the year included:

Participation and Reach

ISTA continued to deliver international programmes for students and educators across multiple regions during the year:

Overall engagement during the year totalled 1,852 students and 388 educators, representing a 22% decrease in student participation and a 7.5% decrease in educator participation compared with the prior year. The trustees consider this reduction to be primarily attributable to ongoing post-pandemic adjustments, regional travel constraints, and changing patterns of international participation.

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Financial review

Reserves policy

The trustees have established a designated reserves policy of £40,000, intended to cover:

Financial position

Total funds consist of material designated reserves of £40,000 relating to the Reserves fund as detailed above.

Budgets and income targets are actively monitored, with management accounts reviewed three times per year by the board.

The charity’s principal funding sources are income generated from programme delivery, including student events, educator professional learning, membership subscriptions, and the sale of educational resources. These activities generate predominantly unrestricted funds which are applied in furtherance of the charity’s objectives. The charity has no borrowings.

Risk Management

The trustees maintain a structured risk management framework, including:

Key risks identified by the trustees include:

Risk mitigation is overseen operationally by the Director of Operations and strategically by the Board, supported by long-term planning by the Executive Director.

Structure, governance and management

ISTA Global Arts Learning Ltd is a charitable company limited by guarantee, governed by its Articles of Association. In the event of winding up, members undertake to contribute up to £10 each towards the liabilities of the charity.

Trustee recruitment and governance

Trustees are appointed based on skills and experience relevant to the charity’s mission and strategic needs. Appointments are subject to board approval. Trustees serve four-year terms, with the option of extension. The board meets bi-monthly and is supported by a finance sub-committee.

Induction and training of trustees

New trustees receive an induction covering the charity’s governing document, strategic plan, financial position, key risks, and governance responsibilities. Trustees are provided with relevant Charity Commission guidance and are encouraged to undertake appropriate governance training. The Board reviews ongoing development needs periodically and is continuing to strengthen and formalise its induction processes over the next 12 months.

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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 Mrs Liane Campbell (Resigned 31 August 2024) Mr S J Parker (Appointed 6 April 2025)

Executive Leadership

The trustees delegate day-to-day management of the charity to the Executive Director, who is supported by the Director of Operations. These roles constitute the charity’s key management personnel.

Pay and remuneration of key management personnel are reviewed and approved by the Board of Trustees. In setting remuneration, trustees consider the performance of the individual and the organisation, the charity’s financial position, and benchmarking against comparable roles within the UK charity and arts education sector.

Operational Structure

ISTA operates with a small core staff team supported by freelance consultants. Roles during the year included:

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.

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Reference and administrative details

Registered company number

03108893 (England and Wales)

Registered charity number 1050103

Registered office

71-75 Shelton Street Covent Garden London WC2H 9JQ

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. The charity changed its name from International Schools Theatre Association to ISTA Global Arts Learning Ltd on 2 July 2025.

ISTA GLOBAL ARTS LEARNING LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Statement of trustees' responsibilities

The trustees, who are also the directors of ISTA Global Arts Learning Ltd 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.

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

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

Mr R Warren Trustee

24 February 2026

ISTA GLOBAL ARTS LEARNING LTD

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF ISTA GLOBAL ARTS LEARNING LTD

Opinion

We have audited the financial statements of ISTA Global Arts Learning Ltd (the ‘charity’) for the year ended 31 May 2025 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 requires us to report to you if, in our opinion:

ISTA GLOBAL ARTS LEARNING LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ISTA GLOBAL ARTS LEARNING LTD

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:

ISTA GLOBAL ARTS LEARNING LTD

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ISTA GLOBAL ARTS LEARNING LTD

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 charity’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 charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

David Hastings FMAAT, ACA (Senior Statutory Auditor) for and on behalf of bk plus Audit Limited 25 February 2026 Chartered Certified Accountants Statutory Auditor Lakeside Offices The Old Cattle Market 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.

ISTA GLOBAL ARTS LEARNING LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income and endowments from:
Donations and legacies 2 115,608 111,824
Charitable activities 3 1,114,327 990,696
Investments 4 7,875 6,784
Other income 5 43,385 77,326
Total income 1,281,195 1,186,630
Expenditure on:
Raising funds 6 29,080 31,328
Charitable activities 7 1,175,381 1,077,230
Total expenditure 1,204,461 1,108,558
Net income and movement in funds 76,734 78,072
Reconciliation of funds:
Fund balances at 1 June 2024 100,778 22,706
Fund balances at 31 May 2025 177,512 100,778

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

ISTA GLOBAL ARTS LEARNING LTD

BALANCE SHEET

AS AT 31 MAY 2025

2025
Notes
£
Fixed assets
Intangible assets
13
Tangible assets
14
Current assets
Stocks
15
8,564
Debtors
16
149,933
Cash at bank and in hand
364,943
523,440
Creditors: amounts falling due within
one year
17
(385,689)
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
20		 2024
£
£
35,040
4,721
39,761
10,544
153,558
426,082
590,184
(499,734)
137,751
177,512
177,512
177,512		 £
3,579
6,749
10,328
90,450
100,778
100,778
100,778

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 2025.

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.

These financial statements have been audited under the requirements of Section 144 of the Charities Act 2011.

The financial statements were approved by the trustees on 24 February 2026

Mr R Warren

Trustee

Company registration number 03108893 (England and Wales)

ISTA GLOBAL ARTS LEARNING LTD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
22
Investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Investment income received
Net cash (used in)/generated from investing
activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/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		 2025
£
(34,373)
(2,387)
-
7,875
-		 £
(31,926)
(28,885)
-
(60,811)
426,082
(328)
364,943		 2024
£
-
(4,683)
1,017
6,784
(98,945)		 £
134,724
3,118
(98,945)
38,897
395,062
(7,877)
426,082

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

Charity information

ISTA Global Arts Learning Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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.

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

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 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:

Software and website 20% straight line Trademarks 20% straight line Development costs 20% straight line

1.7 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.

1.8 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).

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

(Continued)

1.9 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.

1.10 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.

1.11 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.

1.12 Taxation

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

1.13 Retirement benefits

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

1.14 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
2025 2024
£ £
Donations and gifts 30 151
Membership fees 115,578 111,673
115,608 111,824

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Events
Festival income 678,220 502,030
TaPS income 397,866 442,561
PD&L income 8,480 11,670
Consultancy days for schools and other organisations
Consultancy income and AiR 29,761 34,435
1,114,327 990,696
4 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 7,875 6,784
5 Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 43,385 77,326
6 Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Support costs 29,080 31,328

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

7 Expenditure on charitable activities

EventsConsultancy
days
2025
2025
£
£
Direct costs
Staff costs
232,505
-
Events
647,600
-
T shirt costs
6,431
-
Consultancy costs
-
21,182
PD&L costs
5,948
-
892,484
21,182
Share of support and governance costs (see note 8)
Support
193,808
-
Governance
67,907
-
1,154,199
21,182
Analysis by fund
Unrestricted funds
1,154,199
21,182		 Total
2025
£
232,505
647,600
6,431
21,182
5,948
913,666
193,808
67,907
1,175,381
1,175,381		 EventsConsultancy
days
2024
2024
£
£
224,989
-
520,671
-
18,696
-
-
26,773
4,151
-
768,507
26,773
223,598
-
58,352
-
1,050,457
26,773
1,050,457
26,773		 Total
2024
£
224,989
520,671
18,696
26,773
4,151
795,280
223,598
58,352
1,077,230
1,077,230

8 Support costs allocated to activities

Support costs allocated to activities
Staff costs
Depreciation
Insurance
Post, stationery and advertising
Telephone, computer and website expenses
Bad debts
Meeting expenses
Sundries
Consultancy
ISTA publications and studio costs
Finance costs
Governance costs
Analysed between:
Fundraising
Events		 2025
£
114,148
7,325
13,138
9,071
20,152
110
11,610
2,280
-
30,462
14,592
67,907
290,795
29,080
261,715
290,795		 2024
£
99,086
30,148
12,106
12,189
30,336
30
12,658
2,113
667
31,885
23,708
58,352
313,278
31,328
281,950
313,278

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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
Loss/(profit) on disposal of tangible fixed assets
Amortisation of intangible assets
Impairment of intangible assets		 (Continued)
2025
2024
£
£
25,591
19,199
10,035
11,252
24,021
21,123
4,199
5,254
4,061
1,524
67,907
58,352
2025
2024
£
£
10,035
11,252
4,316
6,037
97
(282)
2,912
6,993
-
17,400		 (Continued)
2025
2024
£
£
25,591
19,199
10,035
11,252
24,021
21,123
4,199
5,254
4,061
1,524
67,907
58,352
2025
2024
£
£
10,035
11,252
4,316
6,037
97
(282)
2,912
6,993
-
17,400
58,352
2024
£
11,252
6,037
(282)
6,993
17,400

10 Trustees

One trustee received £1,800 in relation to fees for services provided (2024: £1,800 received by 1 trustee). Four trustees were also reimbursed a total of £4,043 travelling expenses (2024: £922 received by 1 trustee).

No other remuneration was received by trustees.

Details of related party transactions are disclosed in note 21.

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		 2025
Number
8
2025
£
328,815
22,585
20,844
372,244		 2024
Number
9
2024
£
310,412
13,852
19,010
343,274

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

11
Employees
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000
£100,001 to £110,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2025
2024
Number
Number
1
1
1
-
2025
2024
£
£
163,427
102,699		 (Continued)
2025
2024
Number
Number
1
1
1
-
2025
2024
£
£
163,427
102,699
2024
£
102,699

12 Impairments

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

2025 2024
£ £
In respect of:
Intangible assets - 17,400

Impairment losses in the previous year consisted of amounts relating to development costs relating to CMS and a new website. This project was scrapped and therefore the costs associated were written off.

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

13 Intangible fixed assets
Software and Trademarks Total
website
£ £ £
Cost
At 1 June 2024 - 5,965 5,965
Additions 34,373 - 34,373
At 31 May 2025 34,373 5,965 40,338
Amortisation and impairment
At 1 June 2024 - 2,386 2,386
Amortisation charged for the year 1,719 1,193 2,912
At 31 May 2025 1,719 3,579 5,298
Carrying amount
At 31 May 2025 32,654 2,386 35,040
At 31 May 2024 - 3,579 3,579
14 Tangible fixed assets
Tangible fixed assets
Fixtures and Computers Total
fittings
£ £ £
Cost
At 1 June 2024 4,781 22,366 27,147
Additions 898 1,489 2,387
Disposals (1,160) - (1,160)
At 31 May 2025 4,519 23,855 28,374
Depreciation and impairment
At 1 June 2024 4,515 15,885 20,400
Depreciation charged in the year 733 3,583 4,316
Eliminated in respect of disposals (1,063) - (1,063)
At 31 May 2025 4,185 19,468 23,653
Carrying amount
At 31 May 2025 334 4,387 4,721
At 31 May 2024 266 6,483 6,749

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

15
Stocks
Finished goods and goods for resale
16
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
18
Trade creditors
Other creditors
Accruals
18
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:
Current liabilities
Movements in the year:		 2025
£
8,564
2025
£
104,844
45,089
149,933
2025
£
2,589
256,720
69,710
5,491
51,179
385,689
2025
£
256,720
2025
£
256,720		 2024
£
10,544
2024
£
131,123
22,435
153,558
2024
£
2,317
373,052
77,959
5,362
41,044
499,734
2024
£
373,052
2024
£
373,052

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

18
Deferred income
Deferred income at 1 June 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 May 2025
19
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 (Continued)
373,052
334,138
(373,052)
(334,138)
256,720
373,052
256,720
373,052
2025
2024
£
£
20,844
19,010

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 (2024: £nil).

20 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.

Reserves fund
Dinos Global Legacy fund
General funds
Previous year:
Reserves fund
Dinos Global Legacy fund
General funds		 At 1 June
2024
Incoming
resources
Resources
expended
£
£
£
80,000
-
-
5,143
1,617
(1,095)
15,635
1,279,578
(1,203,366)
100,778
1,281,195
(1,204,461)
At 1 June
2023
Incoming
resources
Resources
expended
£
£
£
-
-
-
-
5,143
-
22,706
1,181,487
(1,108,558)
22,706
1,186,630
(1,108,558)		 Transfers
£
(40,000)
-
40,000
-
Transfers
£
80,000
-
(80,000)
-		 At 31 May
2025
£
40,000
5,665
131,847
177,512
At 31 May
2024
£
80,000
5,143
15,635
100,778

ISTA GLOBAL ARTS LEARNING LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

21 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
2025
£
M Patel
1,800
E Shyong
-
R Warren
-
A Kritzer
-
1,800
22
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Foreign exchange differences
Loss/(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 in stocks
Decrease/(increase) in debtors
Increase in creditors
(Decrease)/increase in deferred income
Cash (absorbed by)/generated from operations		 Reimbursed expenses
2024
2025
2024
£
£
£
1,800
1,529
922
-
197
-
-
1,416
-
-
901
-
1,800
4,043
922
2025
2024
£
£
76,734
78,072
(7,875)
(6,784)
328
7,877
97
(282)
2,912
6,993
4,316
23,437
1,980
1,520
3,625
(17,743)
2,289
2,720
(116,332)
38,914
(31,926)
134,724

23 Analysis of changes in net funds

The charity had no material debt during the year.