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← Montage Theatre Arts

2025-03-31-accounts

MONTAGE THEATRE ARTS ANNUAL REPORT 2024/2025

(A company limited by guarantee)

Citibase 67-71 Lewisham High Street London SE13 5JX

Registered Charity No. 1103460 Registered Company No. 5020947 020 8692 7007 www.montagetheatre.com

Montage Theatre Arts Company Limited by Guarantee

Annual Report and Financial Statements

Year ended 31 March 2025

Contents

Trustees Annual Report

Independent Examiner’s Report

Statement of Financial Activities (incorporating the income and expenditure account)

Balance Sheet

Notes to the financial statements

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Montage Theatre Arts Company Limited by Guarantee

Report of the Trustees for the year ended 31 March 2025

The Trustees are pleased to present their report together with the financial statements of the charity for the year ending 31 March 2025.

Reference and administrative details

Charity Number: 1103460 Company Number: 5020947 Principal Office: Citibase, 67-71 Lewisham High Street, London, SE13 5JX Bankers: The Co-operative Bank, Lewisham Branch, 151 Lewisham High Street, London SE13 6AA Independent Examiner: Kathleen Moss ACMA, CGMA

Directors and Trustees

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.

The trustees serving during the year and since the year end were as follows:

Chair Marian Cleary Treasurer Laura de Poitiers Company Secretary Laura de Poitiers Cathryn Hopkins (appointed as Co-Secretary February 2025)

Other Members Matthew Housden Kate Jones (Vice-Chair) Harriet Margolies Sinan Waheed (Vice-Chair) Harriet Darcel (Appointed April 2024) Rajan Joneja (Appointed April 2024)

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STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Montage Theatre Arts (MTA) is a company limited by guarantee, incorporated and registered as a charity 20 January 2004.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its articles of association. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the charity and there are currently 9 trustees, each of whom agrees to contribute £1 in the event of the charity winding up. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in the accounts.

Appointment of Trustees

As set out in the Articles of Association the trustees are appointed by the board. They hold office until the following Annual General Meeting when they will be eligible for re-appointment. One third of the members of the board of trustees resign at each Annual General Meeting and are eligible for re-election. The trustees may appoint any member of the charity as a member of the board of trustees provided that the prescribed maximum is not exceeded. When considering appointing trustees, the board has regard to the requirement for any specialist skills or representation needed.

Trustee Induction and Training

New trustees are provided with information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making process, the business plan and recent financial performance of the charity. They meet key employees and other trustees during the induction process. Trustees are encouraged to attend external training events where these will facilitate the undertaking of their role.

Organisation

The board of trustees, which can have up to ten members, administers the charity. The board meets quarterly and there are sub-groups covering fundraising, marketing and special projects which meet as required.

A CEO is appointed to manage the day-to-day operations of the charity, to whom authority for operational matters including finance, employment and artistic performance related activity are delegated, within terms of delegation approved by the trustees. At the start of the financial year, organisation employees were the General Manager, later appointed as Chief Executive Officer (CEO), Administrator, Marketing and Communications Executive and two Youth Programme Assistants. During the year, the Board appointed two further employees: an Operations Manager (November 24) and Youth Programme Producer (December 24) to help oversee the organisation. A freelance fundraising consultant was also engaged to support the organisation’s fundraising efforts.

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Our Independent Examiner, as appointed by the board, remained Kathleen Moss.

Related Parties

One related party transaction has occurred this year (2024: no related party transactions).

Alexander Margolies, Brother of Trustee Harriet Margolies, was contracted to provide fundraising advice and bid writing services on a freelance basis. Beyond introduction, Harriet was not involved in his recruitment, contract or engagement. Payment was made on an arm’s length basis and agreed with the CEO directly.

Whilst the charity has no formal relationship with ‘related charities’, it values collaboration with fellow theatre and community organisations, and exchanges mutual support and assistance wherever possible. This includes co-productions and partnerships within projects.

Risk Management

The trustees have a risk management strategy that comprises:

PUBLIC BENEFIT STATEMENT

MTA’s main aim is to advance education for the public benefit by the promotion of the arts, but not exclusively, the performing arts.

For over 27 years we have existed to open doors to the performing arts in Lewisham and empower young people to build their self-belief, grow their creative skills, and become thriving members of their community. We foster creativity, confidence, and wellbeing through accessible, inclusive drama, dance and singing programmes.

OBJECTIVES

Our objectives include reducing barriers to participation, nurturing local talent, celebrating diversity, and using the arts to support wellbeing, personal growth and social cohesion.

With a strong focus on supporting disadvantaged communities, we are committed to making the transformative power of participatory arts accessible to all children and young people across the borough.

“I would like to send my gratitude and thanks to the amazing team of teachers who are leading my daughter at those classes for their passion, dedication, time and energy. It is making me so happy to see her coming back home so excited, inspired and full of new ideas. It is the most beautiful thing to see [child]’s spirit BEING LIGHTEN UP”

MTA BURSARY PARENT, NOVEMBER 2024

Academic Benefits:

Research consistently demonstrates that children who participate in performing arts excel academically. A DCMS study stated that students involved in arts education are significantly more likely to achieve higher grades and attend school more regularly. Lewisham is the 4[th] lowest scoring borough in London for

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attainment in GCSE English and Maths[1] , and below the national average, making the benefits of arts education especially meaningful. Furthermore, The Cultural Learning Alliance reports that students from low-income families who engage in the arts are three times more likely to get a degree.[2]

Social and Emotional Benefits:

Beyond academic impact, the performing arts play a pivotal role in developing social and emotional competencies. A study by the University of Oxford found that children who engage in arts activities are more likely to develop strong social skills and show greater emotional resilience[3] .

Participation in the arts helps young people build transferable life skills - communication, creativity, critical thinking, collaboration and empathy. It also supports the development of self-worth and confidence, creating formative experiences that raise aspirations. For young people facing greater challenges, developing these skills can help them to overcome barriers to achievement. MTA provides a safe and inclusive environment where young people can thrive both individually and as part of a community. Students of all ages come together through their shared love of performing arts, helping to break down social barriers related to race, sexuality, and socio-economic background.

Furthermore, as the youth mental health crisis intensifies, the Mental Health Foundation highlights that engagement in creative activities can significantly reduce anxiety, depression, and other mental health issues[4] . All senior staff are trained in Youth Mental Health First Aid and have worked with a drama therapist to introduce mental health, wellbeing and resilience techniques into sessions providing essential pastoral support.

GOVERNANCE

Each year, the trustees review the aims, objectives, and activities of the charity, assessing the outcomes achieved and the impact of our work. This report outlines how our activities have benefited the communities we serve and how they align with our charitable purposes.

The trustees have followed the Charity Commission’s guidance on public benefit when reviewing aims and planning future activities, ensuring that all work continues to support our stated mission.

ACTIVITIES

MTA provides a year-round programme of classes, workshops and projects rooted in dance, drama and music, giving participants opportunities to develop new skills, grow in confidence, and express themselves creatively.

Our activities have been shown to raise aspirations, support educational progress, encourage critical and empathetic thinking, and create safe, supportive spaces for young people. Participants form a cohesive community rooted in shared interest, helping to break down barriers across gender, sexuality, race, and socio-economic background. MTA also champions youth voice, involving young people and families in planning and decision-making, and strengthening our identity as a community organisation.

30% of regular students receive financial support through concessionary rates or free places. Many participants are referred through schools, social care teams, young carer networks, and other community partners. We aim to increase opportunities for young people facing disadvantage, often supporting them over several years providing stability for those experiencing challenging circumstances at home. Additionally, we run projects focused in Lewisham’s most disadvantaged areas with young people who can benefit most from opportunities to co-design, respond to and share their creativity with others.

1 DFE (https://data.london.gov.uk/dataset/gcse-results-by-borough-20pd9) 2 CLA (https://www.culturallearningalliance.org.uk/wp-content/uploads/2024/01/CLA-key-findings-2017.pdf)

3 Thompson, I., & Tawell, A. (2017). Becoming other: social and emotional development through the creative arts for young people with behavioural difficulties. https://doi.org/10.1080/13632752.2017.1287342

4 https://www.mentalhealth.org.uk/explore-mental-health/blogs/how-arts-can-help-improve-your-mental-health

“Montage is a great place to bring your child to help them build up their skills and improve their confidence. The teachers are fantastic and lovely to approach with anything. I will always recommend Montage for everyone that wants to build up their dreams.”

MTA BURSARY PARENT, JULY 2024

Core activities, excluding stand-alone projects, delivered during the 24/25 financial year:

MTA worked in partnership with several local organisations, including:

Lewisham Council, Youth First, NHS-SLAM, Lewisham CAHMS, The Albany, The Quaggy Development Trust, Wash House Projects, Brindishe Federation, Lewisham Arts Education Network, Prendergast School, Two Mindful Bees, Brockley Jack Theatre, Broadway Theatre (Catford) and several other local nurseries, primary and secondary schools.

COMPANY PERFORMANCE AND ACHIEVEMENTS

Achievements: Performance & Financial Review

The Board of Trustees and Senior Leadership Team identified two priorities for the 24/25 financial year: - Strengthening MTA’s charitable outreach; and

As part of this transition, Emma Hobday (formerly General Manager) was appointed CEO, and the organisation restructured roles to introduce an Operations Manager and a Creative Programme Producer.

MTA ended the 24/25 financial year with a net deficit of £12,249 (23/24: £16,940 surplus). This figure is largely comprised of £8,502 (23/24: £9,072 surplus) of mandatory restricted income expenditure against funds received in the 23/24 financial year where project activity spanned the two financial years. The deficit on unrestricted funds was of £3,747 (23/24: £7,868 surplus) following a strong surplus position in the prior year. Please refer to Note 2D (page 15) of this report for MTA’s policy regarding fund accounting for more information.

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Total income for the year was £270,232 (23/24: £279,696), of which £9,987 (23/24: £31,572) related to restricted income funds. Expenditure totalled £282,481 (23/24: £262,756), of which £18,489 (23/24: £22,500) related to restricted income funds, reflecting continued investment in the charity’s activities and delivery of its objectives.

Charitable reserves now stand at £87,041 (23/24: £99,290) of which £86,471 (23/24: £90,218) represents general reserves and £570 (23/24: £9,072) represents restricted income funds where expenditure is due in the 25/26 financial year.

In line with MTA’s Reserves Policy, the charity maintains a minimum of three months’ expenditure, including direct costs, fees, and overheads. The trustees are satisfied that the reserves held at year end meet this requirement.

Achievements: Widening Participation

MTA’s core aim is to remove financial and perceived social barriers that prevent young people from accessing the transformative benefits of performing arts. In September 2024, the application criteria for means-tested reduced-rate and free places were adjusted to reflect the ongoing cost-of-living crisis and London Living Wage. Special dispensation also continued to be available for applicants able to demonstrate need despite not meeting standard criteria.

“Thank you so much he looks forward to his classes every week and wished he could do it every day! [Child] has made so many friends and just seems so much happier than before, so a very big thank you to the MTA team”

MTA BURSARY PARENT, JULY 2024

The combined efforts of the MTA team have revitalised outreach work, resulting in an increase in financially assisted students to 30% (23/24: 22%). In total, MTA provided 591 financially assisted places (23/24: 439). Further growth is anticipated in 25/26.

Affordable access remains central to MTA’s charitable mission. Reduced-rate places allow low-income families to access sessions for as little as £4, while standard fees remain highly competitive and contribute to cross-subsidising assisted places.

MTA’s free place programme continues to provide fully funded training for some of the borough’s most talented and disadvantaged young people - opportunities they would not otherwise be able to access. These bursaries range from £96 to £454 per term per student.

Achievements: Core Youth Programme

MTA conducted several satisfaction surveys throughout 24/25, achieving an overall 85% satisfaction score with over 75% of participants showing notable improvements in confidence and skills, while over 50% of parents noticed an improvement in behaviour, engagement and focus.

Participants engaged in a wide range of performing arts, including ballet, street dance, contemporary dance, drama, singing, tap, and musical theatre. MTA also continued preparing students for accredited examinations with the Royal Academy of Dance and the London Academy of Music and Dramatic Art.

Ofsted-registered holiday programmes were delivered at two sites throughout the year, providing essential respite for both working and non-working parents. Now in its 24th year, the holiday programmes continue to demonstrate the need for safe, supportive environments, particularly for young people from turbulent home situations or with limited access to positive leisure activities.

“Just wanted to say how fabulous your staff are. My daughter had such a lovely time and can see each time her confidence growing and growing.”

MTA BURSARY PARENT, APRIL 2024

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Widening Offer

To accommodate demand within our growing Saturday programme, MTA launched two new classes— Sparks (Year 1) and Spotlights (Year 2). These two-hour sessions combine dance, drama, and singing, and provide a stepping stone towards the three-hour Saturday School for students in Years 3–9.

Performances

Performance remains at the heart of MTA’s ethos, and every child and young person is empowered to find their talent and shine. Both informal in-class performances and larger-scale productions are integral to the programme, celebrating achievement, building confidence, creating lasting memories, and inspiring aspiration.

Key highlights from 24/25 include:

Parents were invited to watch holiday course performances throughout the year, and all terms ended with parents watching various showcases and in-class performances, including the production of music videos. Performances and our many events are also the opportunity for parents from all backgrounds to build stronger connections with each other, within the supportive community that MTA creates.

MTA also partnered with the Broadway Theatre, Catford and JOY productions for their annual pantomime and supplied the majority of the children’s cast. This offered students the chance to perform in a professional production alongside a professional cast of actors to huge audiences across 22 performances.

Youth Committee

MTA’s youth committee is made up of our Youth Theatre and scholars, providing a valuable platform for young people to contribute their ideas and shape programme development, in turn building life and world-of-work skills in organisation, planning and communication. MTA puts youth voice at the centre of all we do. The youth committee provides an important testing-ground for wider planned youth voice work.

Achievements: Projects

MTA undertook several projects throughout 24/25. Two key highlights include:

Harmful Sexual Behaviour Workshops:

Partnering with Youth First (Lewisham’s youth service), Lewisham Child and Adolescent Mental Health Services and South London and Maudsley NHS Foundation Trust in a joint mental health bid to the ‘Building Brighter Futures’ initiative from the Maudsley Trust (which concluded in 25/26). Our role included action research with a panel of young people, school leaders and parents, leading to workshops with over 100 13–14-year-olds on coping mechanisms to tackle the rise in harmful sexual behaviour Lewisham’s young people and schools are experiencing.

Confidence and Belonging at Brindishe:

MTA created and delivered several workshops at the Brindishe Federation of schools (primary age groups – Reception to Year 6) to deliver confidence building workshops to 215 FSM and PP students encouraging a ‘sense of belonging’ in their students, funded by the Lee Charity of William Hatcliffe

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“From watching the sessions first-hand and feedback from teachers, it is very clear that the sessions had instant impact. Within each session, children that do not normally participate in class and ‘sit back’ were instead, keen, eager, and enthusiastic. School adults were amazed!

Following the sessions, teaching assistants provided very positive feedback and class teachers reported that when the children returned to class, their engagement and participation in learning had increased immensely. The uptake and request for spaces for additional Montage Arts sessions from parents/carers of FSM children and other vulnerable families was overwhelming”

KATIE MATTHEWS, MARCH 2025, HEAD TEACHER OF BRINDISHE GREEN

Achievements: Volunteer programme

MTA continued rebuilding its volunteer programme post-COVID, engaging 20 volunteers over the year. With the Operations Manager now in post, developing and expanding the programme will be a key priority for 25/26.

A significant aspect of the volunteer programme focuses on employability for teenagers aged 14 and above. Volunteers support productions, assist younger students, and contribute to backstage operations. Staff work closely with them to develop confidence, communication, teamwork, and leadership - skills that directly enhance future employability. In return, volunteers gain hands-on industry experience, mentorship, and opportunities to build discipline and responsibility within a real-world creative environment. This reciprocal structure enables meaningful personal and professional growth while enriching the wider MTA community.

Achievements: Funding

Across the financial year 24/25 MTA was successful in receiving money from the following trusts, councils, and organisations. Our thanks and appreciation are extended to all those who have made it possible for MTA to continue our work within the community.

MTA raised over £6,500 through the Big Christmas Give, including more than £3,000 in online donations. An additional £3,500 was raised through community events and website donations.

Looking Forward to 25/26: Potential Risks

The cost-of-living crisis, inflation, and significant needs within socio-economically disadvantaged communities present ongoing challenges as we progress into 25/26.

To ensure operational stability and embed the new staffing structure, MTA's priorities for the coming year include:

Fundraising remains a key risk, with increased competition and shifting priorities among trusts and foundations. To mitigate this, MTA plans to engage fundraising specialists to support strategy development and bid writing.

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Trustees’ Responsibilities

The trustees (who are also directors of Montage Theatre Arts for the purposes 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 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 these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees on 31 March 2025 was nine (2024: six). Trustees are members of the charity, but this entitles them only to voting rights.

Our Independent Examiner, as appointed by the board, Kathleen Moss ACMA, CGMA. The company has taken advantage of the small companies’ exemption in preparing this report. The trustees declare that they have approved the trustees’ report (including directors’ report).

Approved by the trustees on 20[th] January 2026 and signed on their behalf by:

____ ________

Marian Cleary – Chair Person Laura de Poitiers – Treasurer and Company Secretary

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(Limited by Guarantee)

Montage Theatre Arts

Independent Examiner's Report

To the Trustees of Montage Theatre Arts

I report on the accounts of the charity for the year ended 31st March 2025, comprising of the Statement of Financial Activities, Balance Sheet and associated notes.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

KR Moss

Kathleen Moss ACMA, CGMA Kathleen Moss Limited

48 Lawn Terrace London SE3 9LP

Dated: 20���������������

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Montage Theatre Arts Limited

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2025

Total Total
Unrestricted Restricted Funds Unrestricted Restricted Funds
Funds Funds 2025 Funds Funds 2024
Income Note £ £ £ £ £ £
Donations and legacies 3 3,429 5,634 9,063 1,887 5,072 6,959
Charitable activities 4 256,816 4,353 261,169 246,237 26,500 272,737
______ ______ ______ __ __ __
Total income 260,245 9,987 270,232 248,124 31,572 279,696
______ ______ ______ __ __ __
Expenditure: 5
Raising funds 14,466 - 14,466 13,350 - 13,350
Charitable activities 249,526 18,489 268,015 226,906 22,500 249,406
______ ______ ______ __ __ __
Total expenditure 263,992 18,489 282,481 240,256 22,500 262,756
______ ______ ______ __ __ __
Net income for the year 6 (3,747) (8,502) (12,249) 7,868 9,072 16,940
Reconciliation of funds
Total funds brought forward 90,218 9,072 99,290 82,350 - 82,350
Transfer between funds - - - - - -
______ ______ ______ __ __ __
Total funds carried forward £ 86,471
 £ 570
 £ 87,041
 £ 90,218
 £ 9,072
 £ 99,290

All of the above results are derived from continuing activities . There were no other recognised gains or losses, other than those stated above. Movements in funds are disclosed in Note 12 to the financial statements.

The statement of financial activities complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on the following pages form part of these financial statements

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Montage Theatre Arts Limited

Balance Sheet As at 31 March 2025

Note
2025		 Note
2025		 2024
£
£		 £ £
Fixed assets
Tangible Assets 8 2,272 2,290
Current assets
Debtors 9 5,803 4,143
Cash at bank and in hand 93,799 117,446
______ __
99,602 121,589
Liabilities:
Creditors: Amount falling due within one year 10 14,833 24,589
______ __
Net current assets 84,769 97,000
____ ____
Total net assets 11 87,041
£		 £ 99,290
£
____ ____
The funds of the charity: 12
Restricted income funds 570 9,072
Unrestricted income funds
General reserve 86,471 90,218
____ ____
Total charity funds 87,041
£		 £ 99,290
£
____ ____
The charity is entitled to the exemption from the audit requirement contained in section 477 of the Companies
Act 2006, for the year ended 31 March 2025. No member of the charity has deposited a notice, pursuant to Act 2006, for the year ended 31 March 2025. No member of the charity has deposited a notice, pursuant to
section 476, requiring an audit of these accounts.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which
comply with sections 386 and 387 of the Act and for preparing accounts which give a true and fair view of the comply with sections 386 and 387 of the Act and for preparing accounts which give a true and fair view of the
state of affairs of the charity as at the end of the financial year and of its incoming resources and application of state of affairs of the charity as at the end of the financial year and of its incoming resources and application of
resources, including its income and expenditure, for the financial year in accordance with the requirements of resources, including its income and expenditure, for the 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 sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
accounts so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the These financial statements have been prepared in accordance with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
Approved by the trustees on January 2026 and signed on their behalf by
20		 Approved by the trustees on January 2026 and signed on their behalf by Approved by the trustees on January 2026 and signed on their behalf by
Marian Cleary - Chair of Trustees Laura de Poitiers - Treasurer and Company Secretary Laura de Poitiers - Treasurer and Company Secretary
Company number: 05020947 Charity number: 1103460

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with sections 386 and 387 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 accounts so far as applicable to the charitable company.

The notes on the following pages form part of these financial statements

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Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025

1 Statutory information

Montage Theatre Arts is a charitable company, limited by guarantee, registered in England and Wales number 05020947 and is registered with the Charity Commission number 1103460. The charitable company’s registered office address is Citibase, 6771 Lewisham High Street, London, SE13 5JX. The registered office is the principle place of business. The functional currency is sterling.

2 Accounting Policies

A Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP FRS 102) and the Companies Act 2006.

Montage Theatre Arts meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about Montage Theatre Arts' ability to continue as a going concern and no sources of estimation uncertainty at the reporting date.

B Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

C Gifts/intangible income

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

D Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor and expenditure which meets these criteria is charged to the fund. The project year may not match with the financial year of MTA and so there may be a mismatch in the recognition of income and expenditure for these projects. Restricted fund income is recognised in the financial year that the income is received however restricted fund expenditure is recognised in the financial year in which the expenditure is incurred. Any surplus on restricted funds represents monies to be spent in future financial years.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

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Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

E Expenditure and irrecoverable VAT

Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs.

Other expenditure represents those items not falling into any other heading.

F Fixed Assets

Tangible fixed assets are stated at cost, or if donated, at their estimated value at the date of donation, less depreciation.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment - 25% straight line

G Leasing commitments

Rental charges are charged on a straight line basis over the term of the lease.

H Debtors

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

I 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. Cash balances exclude any funds held on behalf of service users.

The charity does not have a material holding in complex financial instruments.

J Creditors and provisions

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

K Pensions

The charitable company has an Auto Enrolment pension with the People's Pension. Contributions are charged to the Statement of Financial Activities as they are incurred.

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Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

Unrestricted Restricted Total
2025
3 Donations and legacies £ £ £
Donations 3,429 3,634 7,063
Hilary and Stuart Williams
Foundation Trust - 2,000 2,000
___ ___ ___
£3,429 £5,634 £9,063
___ ___ ___
Prior year comparative Unrestricted Restricted Total
2024
Donations and legacies £ £ £
Donations 1,887 3,572 5,459
The Childhood Trust -
Hilary and Stuart Williams
Foundation Trust - 1,500 1,500
___ ___ ___
£1,887 £5,072 £6,959
___ ___ ___

17

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

Unrestricted Restricted Total
4 Income from charitable activities 2025
Grant income £ £ £
London Borough of Lewisham - 1,000 1,000
The Lee Charity of William Hatcliffe - 1,308 1,308
The Childhood Trust - 1,145 1,145
Jack Petchey Foundation - 900 900
___ ___ ___
- £4,353 £4,353
___ ___ ___
Classes and events
Core programme income 140,968 - 140,968
Holiday programme income 108,393 - 108,393
Other events and workshop income 2,792 - 2,792
T-Shirts 554 - 554
External services 4,109 - 4,109
___ ___ ___
£256,816 - £256,816
___ ___ ___
4 Total income from charitable
activities		 £256,816 £4,353 £261,169
___ ___ ___
4 Prior year comparative Unrestricted Restricted Total
Income from charitable activities 2024
Grant income £ £ £
London Borough of Lewisham - 1,000 1,000
Foyle Foundation - 19,000 19,000
The Merchant Taylors' Foundation - 4,900 4,900
___ ___ ___
- £26,500 £26,500
___ ___ ___
Classes and events
Core programme income 126,726 - 126,726
Holiday programme income 107,757 - 107,757
Other events and workshop income 3,214 - 3,214
T-Shirts 610 - 610
External services 7,930 - 7,930
___ ___ ___
£246,237 - £246,237
___ ___ ___
4 Total income from charitable
activities		 £246,237 £26,500 £272,737
___ ___ ___

18

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

5 Analysis of expenditure

Expenditure represents the following direct and apportioned costs

Costs of Charitable Charitable Govern- 2025
raising funds activities ance Total
£ £ £ £
Fundraising 1,400 - - 1,400
Staff costs 6,010 108,183 6,010 120,203
Teacher/Course Manager Fees - 70,484 - 70,484
Venue hire - 29,589 - 29,589
Exam fees - 1,261 - 1,261
Other Project costs - 1,030 - 1,030
Youth Prog Manager & Assistant - 20,103 - 20,103
Event/show 2,481 - - 2,481
Recruitment, Consultancy, Legal - 1,929 - 1,929
Independent Examination - - 1,235 1,235
Staff training - 279 - 279
Marketing, Publicity, T Shirts - 3,796 - 3,796
Stationery, Telephone, Subscriptions
& Memberships		 619 2,477 - 3,096
Rent, Rates, Utilities, Premises,
Insurance, Postage		 3,013 10,544 1,506 15,063
Office equipment, Website & IT 943 3,302 472 4,717
Bank and paypal charges - - 3,029 3,029
Petty Cash, Miscellaneous &
Volunteer expenses		 - 1,060 - 1,060
Trustee meeting expenses - - 356 356
Depreciation - 1,370 - 1,370
_ _ _ _
£14,466 £255,407 £12,608 £282,481
_ _ _ _
Of the total expenditure: Unrestricted Restricted Total
2025 £ 263,992 £ 18,489 £ 282,481
2024 £ 240,256
 £ 22,500
 £ 262,756

19

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

Prior year comparative - Analysis of expenditure

Expenditure represents the following direct and apportioned costs

Costs of Charitable Govern- Govern- 2024
raising funds activities ance Total
£ £ £ £
Fundraising 9,536 - - 9,536
Staff costs - 89,201 9,911 99,112
Teacher/Course Manager Fees - 66,334 - 66,334
Administrator Fees - - -
Venue hire - 29,241 - 29,241
Exam fees - 1,971 - 1,971
Other Project costs - - -
Youth Prog Manager - 22,349 - 22,349
Creative consultant - - -
Apprentices - - -
Recruitment, Consultancy, Legal,
Payroll		 - 711 - 711
Independent Examination - - 1,235 1,235
Staff training - 595 - 595
Marketing, Publicity, Website, T
Shirts		 - 7,499 - 7,499
Stationery, Telephone, Subscriptions
& Memberships		 599 2,394 - 2,993
Rent, Rates, Utilities, Premises,
Insurance, Postage		 3,030 10,604 1,515 15,148
Office equipment, Website & IT 186 650 93 929
Bank and paypal charges - - 3,153 3,153
Petty Cash, Miscellaneous &
Volunteer expenses		 - 320 - 320
Trustee meeting expenses - - 366 366
Depreciation - 1,264 - 1,264
___ ___ ___ ___
£13,350 £233,133 £16,273 £262,756
___ ___ ___ ___
Net income for the year
2025 2024
The net income for the year is stated after charging:
Depreciation of tangible fixed assets owned by the Charity £1,370 £1,087
Independent Examination £1,235 £1,235

6 Net income for the year

20

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

7 Staff costs

Staff costs during the year were: 2025 2024
£ £
Salaries and wages 112,458 97,146
Social Security costs 5,226 (76)
Other pension costs 2,519 2,042
______ ______
£120,203 £99,112
______ ______

At 31st March 2025 Montage Theatre Arts had 6 employees (2024: 4) all other staff are freelancers and invoice the organisation. No employee earned over £60,000 in the year.

Key management personnel are the Trustees, Chief Executive & Operations Manager.

The total benefit of the key management personnel including NIC and pension in the year was £59,340 (2024: £45,248).

The average number of employees during the year was 4.5 (2024: 5).

No remuneration was paid to Trustees in the year (2024 - £ nil), nor were any expenses reimbursed to them (2024 - £nil).

8 Tangible fixed assets

Office Fixtures & Production Wates
Equipment Fittings Equipment Equipment Total
£ £ £ £
Cost at 1 April 2024 3,183 212 3,354 749 7,498
Additions at cost 1,352 - - - 1,352
Write off obselete assets (961) - - (961)
__ __ __ __ __
At 31 March 2025 £3,574 £212 £3,354 £749 £7,889
__ __ __ __ __
Depreciation:
Accumulated Depreciation
at 1 April 2024 2,347 212 1,900 749 5,208
Charge for year 1,034 - 336 - 1,370
Depreciation on asset write off (961) - 0 - (961)
__ ______ ______ ______ ______
At 31 March 2025 £2,420 £212 £2,236 £749 £5,617
__ ______ ______ ______ ______
Net Book Value:
At 31 March 2025 £1,154 - £1,118 - £2,272
__ ______ ______ ______ __
At 31 March 2024 £836 - £1,454 - £2,290
__ ______ ______ ______ __

21

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

9 Debtors 2025 2024
Due within one year: £ £
Accrued income - 783
Prepayments 3,028 585
Rent Deposit 2,775 2,775
_ _
£5,803 £4,143
_ _
10 Creditors 2025 2024
Amounts falling due within one year: £ £
Accruals 4,169 4,139
Income received in advance 6,998 10,422
Creditors - 7,356
Pension 659 800
Social Security and other taxes 3,007 1,872
_ _
£14,833 £24,589
_ _
11 Analysis of net assets between funds Unrestricted Restricted Total
Funds Funds Funds
Fund Balances at 31 March 2025 are represented £
 £ £
by:
Tangible Fixed Assets 2,272 - 2,272
Current Assets 99,032 570 99,602
Creditors: Amounts falling due within one year (14,833) - (14,833)
______ ______ ______
Total net assets £86,471 £570 £87,041
______ ______ ______
Analysis of net assets between funds - prior year comparative
Unrestricted Restricted Total
Fund Balances at 31 March 2024 are Funds Funds Funds
represented by: £ £ £
Tangible Fixed Assets 2,290 - 2,290
Current Assets 112,517 9,072 121,589
Creditors: Amounts falling due within one year (24,589) - (24,589)
__ ______ __
Total net assets £90,218 £9,072 £99,290
__ __ __

22

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

12 Funds

Funds
Fund movements were as follows: At 1st Apr Incoming Outgoing At 31st Mar
2024 2025
£ £ £ £
Restricted Funds
Jack Petchey Foundation 300 900 ( 630) 570
LB Lewisham - 1,000 ( 1,000) -
The Lee Charity of William Hatcliffe - 1,308 (1,308) -
The Merchant Taylors' Foundation 1,860 - (1,860) -
Foyle Foundation 6,912 - (6,912) -
Big Give - 6,779 (6,779) -
______ ______ ______ ______
Total Restricted Funds £9,072 £9,987 (£18,489) £570
______ ______ ______ ______
Unrestricted funds:
General funds £90,218 £260,245 (£263,992) £86,471
______ ______ ______ ______
Total funds £99,290 £270,232 (£282,481) £87,041
______ ______ ______ ______

Restricted Funds - description

Jack Petchey Foundation: Award voted for by students. The award comes with a small grant that is to be spent in accordance with the recipients' wishes.

LBL Small Grant Award: To support running costs as a regularly funded organisation.

The Merchant Taylor's Foundation: To support the cost of the scholarship programme, both annual & holiday.

Foyle Foundation: To support the cost of the scholarship programme the employment costs of managing and marketing the programme.

Big Give: To support the cost of the bursary programmes during school holidays.

The Lee Charity of William Hatcliffe: To provide workshops at Brinishe Federation schools to improve confidence, resiliance, wellbeing, collaboration and engagement among students in receipt of Pupil Premium.

Prior year comparative

Prior year comparative
Fund movements were as follows: At 1st Apr Incoming Outgoing At 31st Mar
2023 2024
£ £ £ £
Restricted Funds
Jack Petchey Foundation - 600 (300) 300
LB Lewisham - 1,000 (1,000) -
The Merchant Taylors' Foundation - 4,900 (3,040) 1,860
Foyle Foundation - 19,000 (12,088) 6,912
__ __ __ __
Total Restricted Funds - £31,572 (£22,500) £9,072
__ __ __ __
Unrestricted funds:
General funds £82,350 £248,124 (£240,256) £90,218
__ __ __ __
Total funds £82,350 £279,696 (£262,756) £99,290
__ __ __ __

23

Montage Theatre Arts Limited

Notes to the financial statements for the year ended 31 March 2025: continued

13 Taxation

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

14 Related parties

One related party transaction has occurred this year (2024: no related party transactions). Alexander Margolies, Brother of Trustee Harriet Margolies, was contracted to provide fundraising advice and bid writing services on a freelance basis. Beyond introduction, Harriet was not involved in his recruitment, engagement or payment

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

15 Trustees

None of the trustees received any remunerations from the charity during the year (2024: Nil). No reimbursements were made to trustees for travelling and other expenses and no payments were made direct to third parties in 2025 (2024: Nil).

16 Pension and other post-retirement benefit commitments

Defined contribution 2025 2024
£ £
Contributions payable by the company for the year £2,519 £2,042

At 31 March 2025 £659 was outstanding, paid in Apr 2025 (2024: £343)

17 Capital commitments

At 31 March 2025 the charity had committed to £nil (2024: £nil) capital commitments

18 Operating lease commitments

The charitable company has a 2 year lease committment that started in December 2023.

Office Office
2025 2024
Less than one year £8,880 £13,320
One to five years - £8,880

19 Contingent assets or liabilities

There are no contingent assets or liabilities at March 2025 (2024:Nil).

20 Liability of members

Montage Theatre Arts is a company limited by guarantee and has no share capital. In the event of the company being wound up, the liability of the members is limited to £1 each.

21 Ultimate controlling party

The charitable company was under the control of the Trustees during the period under review. There is no single ultimate controlling party.

24