TIATA FAHODZI LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) REPORT AND FINANCIAL STATEMENTS 31ST MARCH 2023 REGISTERED NUMBER: 03440596 CHARITY NUMBER: 1108416 Frank Lachman Chartered Accountant 168 North End Road Golders Green LONDON NW117PH Iiiiiilliiii •ACA0757C' 2510812023 COMPANIES HOUSE A22 M2 TIATA FAHODa LIMITED IA COMPANY LthWTED BY GUARANTEE AND HAVING NO SHARE CAPITAL FINANCIAL STATEMENTS for the year ended 31st March 2023 Pag•s CONTENTS Legal & Admlnlstrat•ve Infomiation Report of tl* Committee of Manag•mert Independent examlnerfs report to the m•fflbtrs 10 Slatement of finan¢i•l acbvities 11 8alance sheet 12 Notes to the financial slatefflents 13-15 TIATA FAHODZI UMITEO {A COMPANY UMITED BY GUARANTEE AND HAVING NO SHARE CAPITALI LEGAL AND ADMINISTRATNE INFORMATION 31STIAARCH 2023 Compary Register￿ Numb8r Registered Charity Number 1108416 Roglstered Offlce 16b North End Road Golders Green London NW11 7PH Examiner Frank Laclwnan Chart8rnd Ac¢ountart 16B North End Road Golders Green LoThlon NW11 7PH Directors and Trustees Edward Thom•s Kemp Mwizakunyuma Mkandawir• Elouise West Deborah Titilola Sawyeffr Adebo Adebayo Alisha Artry Sherma Al•xandrirn Polidor&PerTinS Dinah Arny Rockson Caroline Frances Routledge Hinds Samantha Louise Willbourne Sam•nua Sesh•r Resigned 7th November 2022 Resigned 4th May 2022 Patrons Jocelyn Jee Esi•n Lenny Henry Jenny Jules Hugh Quarshie Danny Sapani Olivette Oto 8ankers TSB Bank 40 High Street Watford WD17 28S CAF Bank 25 Kings Hill Avenue Kirys Hill West Malli Kent E194JQ Page 1 TL4TA FAHOOJ LIN•TED IA COAPANY LVIITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES. REPORT forthè y•ar e¢Nled 31st Mor¢h 2023 Rèport ol the Tntstee¥ Thè trL￿teÈs presènt lJ*ff reF￿rt and fina￿￿￿ slat8m￿ forthe ypar 315t March 2023. Stsluiory Informab.￿ on pay? 1 forn5 part oftris RepryL StnKture. govornane• and management The Chartywa5 ￿OrpOrated uTrJer ts Comparmes kt 1985 as a Lwpary Irnrted byguarantee on 26th September 1997, and its objects and regulat￿[￿ are go%emed by ts A￿e5 oFAsKt4?bon foknThJ adopb.on on 11th May 2022. Company nwnb•r 3440S96. Tr guarantees of lTrJMdU￿ mwnbers a￿ lo £1. Th Ccxnpany 6 a wistered chanty. Charity numb•r 1108416. Th• company dlr•ctor8 and eh•rity trustee8 os of the date of this Repori E¢Ywa(d Thynas Kemp Pfv4ttakuryuma MkarKlwe Ebuise West Adebo Adebayo Samantha Wik)0 Ahsha Artry St*Yma PokJore-Perrir Dwrh kn)y Rcdson caroliT￿ Fran￿ ROW& Hu¥Js chaNJ&s in compwry dyeclus ate on page 1 to t￿ Dlr•¢tOT5' respo￿1bIlhkn8 Company Laww*¢¢h ￿ a&0 to charitablè COrnpan￿$ in ErKJLaTrJ Wa￿S reqvirè5 the directors. who arè aLso trustees oftt* company, to pware financial statements lor each fin**4al yearTrAth￿h w a true a￿1 fair v*w of thè stste of allairs of tht compary aTrJ of ts results of Ihe rA)mpany for that per*>J. In pr•parrrrfJ Ihose f￿a￿al siat8m8rt5. ￿ dyedrythtees are reqwed lo". • seleci surtable acccyJrrtty polr*s arm1 tr*n apptytlw eon5tstertlf, obser¥E the methods aThJ prirop*s y) ￿ Charit¢s SORP", • mak*jw19ernents accounbry •stmate5 that ar• reasonabk aThJ pnpjrt • state vthethef appl￿b￿ UK accouw star)Jards ha%E beèn folb*ed. S￿].8￿ to matenal depwtures disdosed aThJ ewlaned in ts financi31 statements", prepare ts finarloal statements on tt* tortem basi5 rt is wwprtpriate to Fyesume that fv company wll The d￿ectorS￿￿OI￿e5 are respo￿ for keeprg prc%er accx)untiro ￿¢￿r¢S kthich dtsck)se wth reasorwble accuracy at any ts'me financ4al po$rt￿n tsfthe cornpany and lo enable I￿rn to ertswe that t￿ rfftarrial statements comply with CompaThgs Act 20(%. are akn ￿$porS￿￿ for safegt4rdng the assels Oft￿ company and Igr taking ￿asonabl• sw pr*￿nknn a￿1 detedtyjn of frauj a￿1 0￿r KtegukrrtEs. DiKk>syrn of infonnation to exafflk*r So far as each ditsdor at date ofapwo¥rdl ofthE report is awa￿. there is m relevani aLkl(( nfofrna￿On tp* companvs eyamitr s unawaTe.' ar)J Ihè directors have takèn all steps Ihat Ilw OL￿Tht to have taken to make Ihernselves awam of any rethnt rfom)8tion and to e5￿￿1¥h Ihat thè 9￿jitOrS we a*or• ofthat wtimat￿. Prfn¢lpal activity and ehariiablè objects To advanc8 educats"L￿ for bereft by ttE pfmiDn ol ts arts. n pwbxjiqr ex￿￿1￿1 the art ofdrama. Mernbership The rnemberthp ofts cwnL88lk)n B ro• Imited to board memters 0￿. Tr wrent memberslip ol Ihe ck)mpa 15 the cornpany directOr￿Charty tr￿lee$ as tstsd ab￿￿. The tfustses ha%e ro *tsrests oynpary. I directus are members ofthe C(￿parry a￿1 guarantee to cortit)ute to b* assets Of￿ compJry in tre e*nt ol it be*vJ wouThJ up such ￿OUnt$ as may be requr&l rntexceedry £1. Page 2 TIATA FAHOOZI UMITED IA COMPANY LIMITED BY GUARANTEE ANO HAillNG NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES. REPORT {¢ontinuedl lor the year •ndÈd 31st March 2023 Public ￿nefit In Sha￿n9 the Charity, the Iruslees have ¢&)nsidtr&J the Chwity CommissM)ns GUIdar￿ M wblic benefit. (Section 4 Charities Act 20￿). The trustees consider that it is approwiate to prepa￿ Ihese ac£ounls on a going C(M)r￿n basis. They are confidenl that the ¢harity will be able lo continue for at kast 12 months from Ihe date of this report. L•gal and adminlstrallw dotsi Regtstered oific• 16b North End Road, London NW11 7PH Profe¥slonal Advlsorn Frank S La¢hman FCA. 16b North End Road. Gdders Green. LoThJon NW117PH. 8ank8rg TSB Bank, 40 High Street, Watford WD17 2BS. CAF Bank. 25 Kinys Hill Av￿￿e, Kings Hill, West Malling. Kent ME19 4JQ. The accounts ¢omply wth the ¢wrenl ststuttyy reqU￿ements and wth the Artides of Asstri•lion daied 11th May 2022. Pl•nagefftent staffing The Charity is run by Ihe Artisti¢ th"[ectc￿ & CEO aThJ go¥￿￿ by the Board of Trustees who are also Direclors un(ler mpany law. StaffiThJ as of 31 March 2023 Artistic Oirector & CEO (Employee) Interim Executive Producer (Freela￿} Producer (Employee) Developing Tal￿1 Producer IEmployeel Finance Manager IFreel3n¢e) Development Manager {EM￿oYee} General Manager (Employee) Executive Assistant IFreelance) VISION & MISSION Vl$ion tiata fahothi mak¢s theatre that looks arr￿id arKI IoK&s fotward. wrth a mission to tell contemporary stories in suryising and innovative ways. We aim to celebrate and champion artist$ and (xeatives wth an expwience of what It is to bè ol British African hefitage in the Britsin of today. We bdieve that il is possible to see oursdves in our full coMple￿ty and joy. Mlsslon tiata fahodi is an ambilious and g8nwous company that stri¥es to bè an engine and a for many of the conversattons lh* a￿'Sts. audiences and communitie$ from a British African heritage wanl to have. We bdieve our work contributes and leads towards an Arts and Cultural ￿l(￿Y in Britain where evwone feds inwted and welcome lo participatè, and a Iheatre industy that is a morè dynamic and indusivt place for everyone. Pa9e 3 TIATA FAHODZI LIMrrED {A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES. REPORT leontinu•dl fvr the ￿lf •nd•d 31st March 2023 REVIEW OF THE YEAR This year we Celebrat￿ 25 years of a company that has honoufed. entertaine(l. and expressed all that is ￿ul1ft11 and at timès difficult. in the Brilish African hefrtage experience. and even wider Ihan that. the Black British experience. In our Artistic Direct*y & CEO Chinonywem Odimba's inaugural 'Year ol the Arli51' celèbralory programme we supported 80 arti515 and reached 1.533 audiences and participanls as we started lo reali$è OUT Vision of blrildirtrg a better enw1￿m￿t for British Alii¢an hefitage art15ts lo thrive. It was an exciting year of creative inib"atives, apwntmwis. and productions des¥gn8d to treate fresh opportunrties for British artists of African heritage of the future. Ouf Artistic Diredor & CEO ChInonyer￿ explained lurther"2022 is all about how we nurturn. grow, support, and showcase the￿ wo￿. And gNen what art￿1$ have bean Ihrough. particularty lrnelance￿. the last Goupk ofyears. k leets Want that we shKJe a &Jhl on. and campaun for them al every stage of Iheff car8efrs. We want lo ￿￿oMe a PJom8 lorart￿5.. 8 safe p19ce fo us and Ih8irpTrctre. Artists a￿ aud￿nCeS. arttsts are actNists. art￿lS are colaborators. artxsts arn al the ￿art of whAt we do I" We wwe Successf￿ in our Arts Council England National Portfolio Organisation 202>26 application, 5￿Ur1￿g an uplift in core fvndin9, and built relationships wth nth¥ fvn(Jers and partners lo ddiver on our Shar￿ am￿'tiOns. We are thankful to Genesis Foundation Kickstart Fund. National Lottwy Cornmunity Fund. Watt¢yd Boi¢Jugh Counryl and Watershed Arts Trusl for supporting OUT art151ic programme Ihis year. Operationally we acied as an important talent wpeline. recruiting at eaty to mid-caTew levels and bringing talent in from oth¢r $8dors. We nurtured the growth and devdopment of 7 producers and 9 other slaff M￿nbe1S dlfynng the year, some of whom have since progressad inlo foles across the ihealre industry. Pmgramme Triple Bill: Talkln9 Aboul a R•¥olu¢ion We produced and toured the first of wr annual triple bill of new ￿ayS and wodd prern￿$ in October 2022, commissioning Ihree exating playwriting voices to fespond to the la51 t￿ee years of turbulen￿. trauma. and terror that we've experienced globally. The resulkn"n9 unvarnished. honèst, and storiÈs imagined our playwrights. ¢)wn varsions of revolulion. ranging from a trans woman refusing to leave the wom￿'S changing room, an incel's ¢ousin taking to In$tagram Live. and two 8la¢k lesbi*s kndn¥ping Black celebrity mogul Kewn West. Chang￿g Rooms by Diana Atuona is a play aboLrt a transgender woman who is asked to leave the female changiThJ room a gym. It's an honest disixjssion on a difficult and important subj￿1 that Diana challeThJed hersew to write "I th￿￿ essentsfy the best kind olTrw(AlJlm is pmbabty w#hn onestr￿- the besl k￿¢ of¢h8nge ts to start with yourselr.- Rol by Malaika Kegode is the story of lonely young people who fall into the wrong kind of comfort. Malaika explores how loneliness can push us into the wrong kind ol revolutions. to places where our loneJines$ 1$ exawbale¢J and Ihe negative things we feel about ourSd*￿S are also exacerbated. She talks al￿1 how ugly revolution could be "rt's nol just a b8autffiJlwwerfullhmg, often * coffts from è place olanw. ￿n￿St, dtssalisf8Gtl￿ wrfh yourlrfe and the way th￿g$ are gomg.. 616-DA WN by babirye bukihva is a radic* yece of writiThJ ¢)pening up the rage and ethaustion of the Blac* female experience as we're thrown into the world of A and B- iwo Black lesbians who have kidnapped celebrity mogul Kewn Wesl- just as the police begin to descend. Page 4 TIATA FAHODZI LIMITED IA COMPANY UMITED BY GUARANTEE ANO HAVING NO SHARE CAprrALI DIRECTORS. AND TRUSTEES. REPORT (contin￿dI for the year ended 31st March 2023 TaH(ing About a Revolution pw to a￿J*￿e$ rBlk)nalty across the fo￿￿n9 three knCat￿rts 762 audiences over eight performances.. Wafford Pump House (part of W*ford Fringe FestNal 2022} Lyric Hammefsmith Bristd Old V The shows were supported wrth wtrexh and ac¢essibilty actmties wh￿h irKluded post-slw discuss￿n$, 2 Brrtish Sign Language perfo{ma￿eS and offering a linited number of free tickets lo aLkJiences stn4gling wtth the cost of Imng. Bel￿ is a Snap$￿t of *￿j￿nCe feedback for Ihe prod[KI￿.. -It Was thfte ljaff hwrs oftnity Ilwhtprovthking drama. kM%xlerf￿1 thematic conlenl, bnlliant storytelling from the 8Ctors and wnre￿. °All three shows We￿ amazing. t￿Y all had￿U at the edge ofyour seat at everypynt. you didny know whth way was gonna go. ..very important themes and m&ssages Éhol talk about entxuh as a communty, il was èmèzw ..il was g￿1 to see myself slwje. not lilernlly, btrtyeah in many w8yS" "Quite often ￿ gel sluck in cvrown bubbles ond I think iys quite nre lo step into otherw*'s wortds and lo see it th81rp￿peCl1ye. "some FIERCE writing to be T￿ndh8￿. A g￿al evening ofKleas andst0tt7es. Feels like each mini play is the beginning ofsometthng INggerf TalkirYJ Ab¢YJt a Revokrtb)n received folk)¥rityJ Wh*9)nSb3e Tr)minalh?rts'. Best New PLav Best ReaKfflal ProdLKtK>n Best PrOfess￿nal Debut Perfonnan¢e- Chbe Lemorn Be51 PTofe5sp)nal Debut PertOnnar￿- Haina Al Saud 2S Blrtlthy Gala We prem*red thè Tripk 8111". TalkirNJ At￿lrt a ReVolu￿n at our 25 Birthday GaL4 aLso h8fvJ at Watford Pump HOLL*. A5 part of the Birthday Gala celebralK)ns, we commisSK)￿ art￿ts, includir¥J sel deS￿rE1 Jo￿e Huntw, Msual artist Suzannah GabrEI, poets Magero Otprtrmagero and Chloe Filani, and ACD-art$ (African Cultural Developmen1} musKians who performed on the ngm. PLAYLAB: Artisl and Creative Assoclates For the first Iwne in our history. we had SEK Bnti5h Afr￿an herrtage artists- three Artist Assock*es three Creatwe AssocAles - across drfferent dISc￿lineS of theatre makiThJ attached to ￿ company. The fitsl cohort included Artist Associates director Montque Touko, souThJ deggnerlcwiposer Esltr*r Kehinde ￿'ay1 and Fteupwryht Yomi Sclle. Th8 Creative A$S￿lateS were dramaturg Zc**4va NY￿)5. climate change e>¥*rt arKI 8BC'5 SprirvJw*h p￿enter Giuian Burke and pkywnght Oladipo AgbolLOje. Page 5 TIATA FAHODZI LIMrrED IA COMPANY UMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES. REPORT Icontinu•dl for the year eThled 31* March 2023 During the year they played wrth hyeas aThJ foms of makirg WO￿ that fed fftto our programrne for 2023124 and beyond. We foslerepbring and kamir¥J drfferent skills. Raphael Dala [mu￿￿diScip￿ary) ar¥J Kari5 Beaumonl (Photograph￿ artist) colFatK>raled to produce a beaut¢ful visual album titled '8lack Bntish Yeathok,. an inlergeneratKJnal expbratK)n of the irnmwrant e>perience of ￿51defits in Watford & Hemal Hampstead th1o￿h portra*we. rnuS￿ & fc(*J. Alexander Willrams (Snger￿Trtef18etorI aTrJ Le>ie Duffry IslrKJer-Son￿rrter) started de￿"n9 a brand new musical e￿knring many facels of race, hjentty & what I means lo be a blackJmi¥e04ace person in Bntain today. Tt*ir worfo in progress was presented as a short vKleo strir¥J of p)ems, spcthen word pEces Mus￿. Stephani8 Stevens {acl0r￿rrterls1ry8r) aThJ Jasmin8 Kahlia (Mutt￿drAWlknnaryl crealed 'FINESSE' together. A ￿r￿h8nder Mus￿1 story told tPIr0￿h tyfics & ￿ rnu5￿ from a bJop rthth. tt eypkjred kJnel¢ness. betrayal. scamming, Insecurit￿ & belonging, •yainst a ngtrrttsfe backdrop. A wa$ hekj Onli￿ in December 2022 and atteThJed by 20 aLhJiences c¢È of whom ￿eete￿ afteThvards 'Loved thisl Thank you fyala f8hc¥tsi. The firt￿￿ ILK*s so kWt-. Developlng Talort As part of our commitment lo ensuring MO￿ eQUrtab￿ furnling for Black Afrtan Theatre Artists, our Devebpment Manger led Nvo seminars e￿lain1r@ Arts Coul￿11 EnglaThJ's DebEbping Yow CreatNe Pfacltr grart appli¢alK)n pr(xess, and offered one to one support and advtt on strategEs The seminars were attended by a totsl of 14 artists and were rn￿h appr￿lated "Thank you so much ftKthg bnlliant thi¢e DCYP. gonna definitefy take a kx)k and appV.". Black Earth: ResisLince. Arti-Racism and the EnviroThnent Black Earth was a research project ab￿th clinate lust￿e. ¢ommunty and joy er¢ompassirg artist commissK)ns, workshops. nature walks and Green Care PackwJes for meM￿r$ of hxal communrties in Watford arKf the South East, and the Bristol and Bath regions. Tr* project eypbied the mental ke8lth mpacts lo Bkck BrrtL8hlAfrican heriiage and other Glthl M4ority people as well as tr* l*Jw creatNe re$￿at￿e can play pat li we resp￿d. Page 6 TIATA FAHODZI LIMITED IA COMPANY UMtrED BY GUARANTEE AND HAVING NO SHARE CAPITALI DIRECTORS. AND TRUSTEES, REPORT l¢ontinued} for the year ended 31st Maich 2023 StartirwJ with an cpen Town Hal meeting in May 2022, f￿1&131ed by Samk? DLmbaya ar￿ Selir0 ￿Wu￿ and INe I1￿$trated by Jasmi￿ Thompson, a kcal and c(￿ml￿￿4￿Sed steer was wught. Based on ltrese discusston4 f￿1¢￿¥ (p wor*slw ￿ by Zakrya M¢KenzE aTrJ Kaysha Provost and Irve illustrated by Camille Aubry. were hekj wrth comrnunty members in Brislol e4)lonrg three main identtfwl dwing the T¢)wn Hall.. What dces'tlwnate iust¢ce" mean to us? E)X>lOri￿ our rebt￿)nsh￿ with aThJ mert* heakh ActK)ns of creative ￿$1S￿rre The CArtcomes and di$￿￿S￿)n$ from these wothslws g￿ed LL% tr) ueate Green Care Pack&ys in partrershp with Communty Apothecary arKI the afrofuturists apothecary. The learnings and ￿gaCY from the Interactive booklet inclijded in the package wll he￿ gU￿e communrt*s an¢J arts organts8tll)ns in IKw lo create sw and joy for people of colour when dtsCu￿ng, learning. organisirKJ for climate justre. Six free decolcffiial nature walks akn took pkgce in Leigh W(yJJ5, Bftstd aThJ Cassiobury Path natLre reseNe, Wat[￿d as part of Great Big Green Week. As the final part of the project, d￿rtaI artist Ama Dogbe and wnter Joshua ArnleTson-Grey received ccAmmbssiors. Ama created an iteracttrve cnline game featuring a dam that'p(Mers' the worhj and Joshua ￿019 a play 'Pack M8nlality'. A showcase of Iheirwork and panel discussion was IEkl at Arcola Theatre in March 2023. Some of the feedback receNed durir¥J IPE proiecl: 'Thets a￿ not many spaces BlackenvinxNnent&isls can gEt r¢yJelher. talk and be in communrty swlh eaclj other- that ompletely made the day. l also think the thshop was Usef￿ for ￿tting us lo think deeper al)oul what clim8le jusbcg looks like but also ouraclitins and st￿tegY forcao7pa￿nl￿Q for rt. l enjoyed the Rsources given in the presentalion. 8$ W911 as the spa¢0 to decompress and Trcognise diff￿￿11 the ¥%tyk is.- GovLYnancelhlanagement To clarify arnl smplrfy our govemance, Artic￿ of A55Ctralion of the Company were adopted by way of a S￿claI resolutKJn in May 2022. in subslrtutK?n for to ex¢lusK)n ol Ik previous Memorandum and Art￿leS of Association of the Company. Two tnjslees stepped (*)wn during the year. irt1￿￿1￿ Deborah Sawyerr was replaced by an e>istirrfJ trustee Debo Adebayo as our new Co-chair. The Board mel fomalty ea¢h quarter thrO￿￿LIt the year and were supported by 11 Finance & Resources Subecffnmrttee wh￿h Scrut￿lSe5 fina￿la1 managemert arbj OicEs. prcte55e5 ￿ contm15 related lo fundraisirvj and per￿ne7 at quartwty meeti￿￿5. wnpanYs organiSat￿nal strLKture was amerbjed fdkMirvJ the resljna¢r￿ ar¥J departure of our part time ExKutwe Director in July 2022. T￿5 key role was ￿P￿ced by an ExeculNe Prc*Jucer {EPI lo alvJn our structLtre more closely to our re arttstK purpose and ambrtKJns. After a penod of support from a free￿￿ Inteiim Executive Prc#Jw, a pemianent EP joM)ed us in May 2023. To prtsv￿e mofft stabilty arnl continurty lo our operations, several roles weve moved from fredance lo payroll In¢￿jdIng our Producer, Oevthpiry Ta￿nI Producer atxl FuThJrarAng Manager. OINette Olele. the UK'S first Black female History Professor, Woild-rencM￿ expert on Cobnial and poSt￿￿nY&1 hi510ry and listed in 100 Gieal Black 8ritons was also Unvei￿ as a new Patron. P&Je 7 TIATA FAHODZI UMITED {A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITALI DIRECTORS. AND TRUSTEES. REPORT Icontinuedl ft>r tr* year ended 31st March 2023 FINANCIAL REVIEW liala fahcxlzi is an Arts Council ErrfJTrarKI Naltonal Portfolio OTgani8aliDn (ACE NPO} and ieceNes the majority175% in 2¢)22123) of ts Nwme from ACE. The origitKql >year ￿re luThJing prc¥Jramme ran until March 2022, and considering Cowd, ACE annourted a ¢)￿-year exten￿On for Ihè fina￿la1 year 2022123. During the year we applied for the 2023- 2026 ACE NPO fund#vJ programme a￿1 We￿ successful. securiNJ a vtsl uplrft in fur¥Jin9. We focussed on deVe￿Ir￿j and dNetsfy"rg our income, resuttirg In 13°A of our 2022123 inwme comir¥J from first time fur*Jers. Funds were rece￿ from Genesis FoundatKJn Krkstart Furnl. NatKyhql Lottery Community Fund, Walford Borough Council aTrJ Watershe¢J Arts Trust, ar¥J lo support our MatchlPlay and Black Earth projects. Overall. income was ￿g￿r thts year al £283.9701£248,164 w) 2021r22) driben ty r*w fur￿lr￿j ￿lat￿*￿IlS eStabl￿hèd. Ejpenditwe this year was much hgtr*r at £331.173 {£245,801 in 2021r221 as we increased our artst outwt to ¢e￿brate our 25 annNersary year. Th planned de[￿t for the year was fuThJed by feseryes trustees had deswJnated specrfically lor thjs pwpose. Al year end, the ¢ompan*s reserves are $￿Vir￿j £186.141. of which £lC4).C￿Q is ¢Jesignated and £86.141 is unreslncte(l. Of the designated furKls, £70.000 ts for the companW5 Spring 2024 Tryle BUI prOduCt￿n and a hjrther £30,QXJO 15 designated for PL4YIA8. alt1K•￿h we avn to se¢ure grant fuThJirvJ for both a¢ts'vit*s in future. RISK The board Teviews fts risk register ts¥ice a year. taking a pro-active approach to mit￿atIr1j risks whereverthis is possble. A major risk is Jack of sLKce55 in fuThJraiwng". this is rnrtoated by havirrfJ a deduted development Manager workirg lo rnplemenl a dear fuTrlraL8iro slralegy wrth progress moni(ored thterrcgated regulady by trustee5. To further mrtKJate this rtsk. IrKcffne and Eyndrture are clearfy linked against specrfic act￿rt￿S IW wiu erther happen on a smaller Sca￿ or will be defer￿ to tl* followirYJ year to al￿￿ more time for fundraTrsirKJ. Tre impact of irllation and hvJh energy PTW on theatre %Rnues rs a I￿k for ts sector, whth 1$ eyacefbated by wnpact the cost of Imfo CTiSi$ has ￿ aLKlen¢es loo. To m(Ib3ale this. we are working collaboratrvely lo understand theatres. limitattsns at an eafty stage of planning, bJilJiNJ evctst￿nS of box offi.ce Y￿h the need to offer pay what you ￿nIdisCOunted I￿ketS to our aud￿nCes. ContingencEs are tsjilt into btys to mit*Jate ftsks. Our y)lry LS lo a ProductK)n ContirvJerw equal lo 100A of prcxluclion lyJdgels and a General conti￿de￿ equal to st)￿ of total eypendrture excluding the Arttslic Programme. Each Arti8tie Prcgranme straThJ has rts rylvn cortirffJency bu* inlo rts blhdget in line with ts riskiness of the wo RESERVES Rese￿e$ polry." The Trustees cons*Jer minmnum reserye level lo be equIVa￿￿t to four rnorrttr6' operatiru costs, held to strerolhen resi1￿rKe against unforeseen events. a fall In incorne and any FQtential term def￿(($ in our cash budget. This polty i% revithve(l annualty. Tre knl 15 currently £78,000 based on forecasted eyThJiturè for 2023124. FUTURE PLANS Throughout April and May we have erv4aged audiences in Watford with MuseLNn Lates. a series of 5 rehearsed readiThJs and convers*KJrB hekl at Warford Musemi. eypk)ring the Black BritL%h Canon from 1970-2010. In each, a cast of emefgirvJ actors perfcwied a play frun a drfferenl decade by a wnler who ha5 m8de a notsbie contribution to B*k stor￿3. introjwry the thal commLmty aThJ twnd to an i77POrtarrt ethent in Black British IhealTe. Page 8 TIATA FAHODZI UMITED {A COMPANY UMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL DIRECTORS, AND TRUSTEES. REPORT (continued) for the year ended 31st March 2023 A new d￿rtaI init￿tNe IwJrKhl￿ ow th8 s(vnmer Trs Laugh k OFf. DeswJr*d lo IXth￿ the ne>1 ge￿rat￿9n of comedy writing talent rt will fc¢us specffjicalty on our commr(ment lo younger t￿atre makers. We're also beyond extrted to be pr￿l￿r0. akJThJsKle partnets Bnslol v￿ aThJ Beh3rade Theatte Coventry, the European premiefe of a new pjay Ih's Autumn. C1￿kY L￿le Brown by Papatarw Prize-winnirwJ plwrKJhl Nkenna Akunro will be a mid-scate seNir¥J our aLK4*rKes and commuNtps nat￿naL￿ as I I￿¥S the UK kter ￿ the year. Approved by the board on 31sl Juty 2023 aThJ sgr*d on the* bthaw by ￿t￿￿akunylrna Mkar¥Jawire. - Director and Treasurer fvhvEakunyuma Mkandavme. P4e9 TIATA FAHOOZI LIMITED (A COMPANY LNITED BY GUARANTEE AND HAVING NO SHARE CAPITALI DIRECTORS. AND TRUSTEES. REPORT (contin￿dI for thè year ended 31st Marth X123 Ind•pendent Examin•rfs Report on the Accounts I report lo the charty trustees on my ey3ninatNJn of the a￿Urts of company for ￿ year ended 31st March 2023 which are sel oul on pages 1110 15. ReSponsIb￿lI￿S and b8&s of As the charty's trustees of the comparry land akn its dire¢trKs for the purposes of Cfxnpany lawl y￿1 are reswnsible for the p￿paratIOn of Ihe accounts in accordance with the wuwnents ol the Ct)mpanies Act 20061'the 2006 Ael'l. Hamng sa1*f￿d myseff that the accounts of ￿ compaw are Th)t required to be audrted urnjer Part 16 of 2006 Act and are eligible for independent e￿rnInat￿n, I report in respecl of my e¥Aminat¥)n of youi charty's a￿oUnt5 as carr*d out under section 145 of the Charit￿$ Act 2011 Ilhe .2011 Aefl. In car￿r￿￿ crtrt my eyAmiroton I haNe followed Direcl gNen by the Charty Comrnission under Sect￿ 14515llb) of 2011 Aci. Independgnt examinerfs Since the mmpany's gross In￿ne exceeded £250.000 your eYaMi￿r rnust be a member of a bc*Jy ILSted in sectton 145 of the 2011 Act. I confim that l am quaIrf￿d to undertake the eyaminat￿n because l a member ol the Institute of Charteren 386 of tr* 20C6 Act.. or (21 the accounts do rL)t accord with those &country records,. or 31 the accounts do not compty wth the ￿untr"r4J requirements of seCt￿n 396 of Acl other than any requirement that the gwe a'trLbe aThJ fairf view wh￿h 1$ rnt a rnatter coThsthred as part of an irbjependent examination., or 141 the accounts have mt been prepared ￿ accordarKe wrth the rnet￿$ arKI pFirKvples of the Slatemerrt of Rewmmended practice for accounting and ￿pOrtIr￿j by chanties appl¢ab￿ lo charirEs P￿panr¥j th2ir accounts in accordance with Ihe Financial Repcxliry Standard appI￿a)￿ in the UK Republ￿ of IrelaThY IFRS 1021. I have no concems and have come across rn) other rnatte￿ in conre¢l￿n wrth the eyarinati)n to whth attartion Shou be drawn in this feport in order lo eftab￿ a proper uThJer5tar*JiTrJ d the xcounts lo be reached. Frank S Lachman Chartered Accountant Independent Eyzmir*r 31st Juty 2023 16b North EThJ Road LoTrJon NW117PH Page 10 TIATA FAHODZI LIPthTED IA COMPANY LIMTEO 8Y GUARANTEE AND HAVING NO SHARE CAPTrALI . STATEWENT OF FINANCIAL ACTMTES In¢knlwv4 INCOAE AND EXPENDITURE ACCOUNT forth• ye¥r ended 31st March 2023 Totsl Total Funds Funds Regtrlcted Oesignated Unrestrtted 2023 Restrkted De*nated Unrestrkted 2022 Funds Funds Fund$ Fund$ Funds Incorn• from". Clwrllablg •ctr¥itles 41,CLK) 242.970 283.970 27.CKXI 221,164 248.164 41,lJ 242 970 283,970 2Z1 164 248 184 Expenditure on: Charltable Actmty Cogts 41.436 289.737 331.173 24.C(t) 195.237 245,801 41.436 289.737 331.173 26.564 24,000 19S,237 246.801 Net In¢omel(expendilure) 14J6) {46.7671 147.203) 124,000 25,927 2.383 Totsl Fund5 brouglrt fo￿ard 176.IX(I 56.9)8 233.344 150,L 80.981 230.981 Trdnsl• 176.cml . 76.1 1S0,(Q)I Total Funds carrfod forwawd 100.000 86.141 186,141 436 176,000 56,908 233 344 The notes on page$ 13 to 15 fonn part ofthts• aeeowts. Page11 TIATA FAHOOJ LIMITED IA COMPANY UMITED BY GUARANTEE AND HAVING NO SHARE CAprrALI BALANCE SHEET AS AT 31st MARCH 2023 Nots 2023 2022 Tawible Fix•d Assets Currenl assets 23.174 189.329 Cash at bank a￿j n hand 267,081 212.503 269,581 Creditovs.. amounts fallnJ due within ¢ 26.362 36,237 Net current Iliabilitiesy assets 186,141 233,344 Total assets lfjss curr•nt liabilili•s 186.141 233,344 Funds Total Funds 186.141 233.344 For the yeai ended 31 March 2023 the company was entrt￿ to exemplDn ur*Jer sectb)n 477(21 of I compan￿ 2006. No members have reqUI￿d the ￿mpary to ct*lain an of ts accounts forthè year in quest¥)n in accordance wrth sect¥Jn 476 of ts Comparries Act 20(E. The directors ackiK)wledge ther resp0rfy.bi￿Y for.. i. ensuriry the company keeps records which c(xnpty with Secti￿ 386", aThJ ii. p￿paring accounts which give a true aThJ fair vivN of the slate of affairs of the company as at the eThJ of financial year and of its profrt and kJs5 for financol year In accordance wrth the sectKJn 393. and wh￿h ot￿nN￿e wrth the requirements of Companies Act rekqtsng lo acccAJnts, 50 far as licable to eompany. The ￿count$ Pwe been prepared n acCcmdar￿e wilh the special provwrts in Part 1S appluble to ¢¢mpanies subject to the sm811 eompanEs' regime under c￿panIES Act 20C6 aTrJ constrtLrte the annual accounts required by the Companies Act 20C6 and are for ¢ArculalK)n to members of the company. Approved ty the board on 31st JLty 2023 ar#J s￿ned behalT by Mwizakurtym Mkandavfft. )Irector and Twsurer akunyuma MkaThJawit. Page 12 TIATA FAHODZI LIMITED {A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FIN￿K￿L STATEMENTS for the year tr* 31st IA•r¢h 1 ACCOUn￿n9 policies lal Financial Statements The financial statements have been prepared in accordance with AccountiThJ and Reporting by Charities.. Statement of Recommended Practi¢e applicable to charitses preparjng their accounts in accordance *Mth the Financial Reporting Standard applicab￿ in the UK and Republic of Ireland {FRS 1021 (effective 1 January 2019)- (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. riata Fahodzi Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. (ill Tan9ible Fixed Assets Depreciation is calculated to write down the cost less estimated residual value of assets by the reducing balance method over Iheir ey¢ted useful lives at the fdlow¢ng rates. Fumilure. fixtures and equipment Computer e￿1pMent 25% on reductng balance 100% (iii) Incom• Income derived from co-production agreements, perforniance fees and olher sales is credited to the Statement of Financial Affairs ISOFAI in the period to which tt relales on the basis of enbtlement- excluding value added tax. Grants and donai¢ons represent amounts from individuals. corp(ntions. trusts and other funding bodies and are credited to the SOFA in the year in which they are ejpended. Ilv) Expèndltur• All eypenditure is a¢¢wnted for on an a¢¢ruals bass t￿ludIng value added tax. Costs are allo¢aled lo a category in the SOFA either because ajch costs a￿ directly In￿rred in relation to such ¢alegory, or be¢ause they are support costs in respect of which an apporbonment has been made between the SOFA categories. Support costs consist of infrastructure cosls for salaries. premises. office administration. Such costs ale apports.oned on a reasonable and consistent basis to the vanous SOFA catÈgones with a ￿eW lo detemining, as accurately as possible, the totsl re$ouices expended for ea¢h ralegory. The basis of apportionment use