Charlty reglstrallon number 1121416 (England and Wales) Company reglstrallon number 03591772 TALL STORIES THEATRE COMPANY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 • xeinadin TALL STORIES THEATRE COMPANY LIMITED LEGALAND ADMINISTRATIVE INFORMATION Trust888 P Daly Mr W R Mauchline Ms Z Wilson Ms P Garfand Ms S J Novoiny Bond (Appolnted 23 Aprll 2024) Senlor management Tara Wllklnson Toby Mllchell Clare Lewls (reslgned 17 January 2025) Executlve Dlrector Artlsilc Dlreclor Markeung Dlreclor Charlty number (England and Wal08) 1121416 Company number 03591772 Audllor Xelnadln Audlt Llmlted 4&48 East Street Epsom Surrey Uniled Klngdom KT17 1HQ TALL STORIES THEATRE COMPANY LIMITED CONTENTS Pago Trustees, report Statement of truste8s' responslbllitlès 10 Indep8nd8nt audllorfs report Statement of financial activlll8S 14 Balanc8 sheet 15 Slalemenl of cash flow8 16 Notes to the financlal statements 17-26 TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The IfUStee5 present Ihelr annual report and financial slatements for th8 year ended 31 March 2025. The financlal slalements have been prepared In accordance with Ihe a¢¢ountlng policles sel oul In note 110 the rsnancial slatements and comply y￿¢h the ch8ritVs governing documenl. the Companies Act 2006, FRS 102 Yh8 Financial Repartlng Standard applicable In the UK and Republic of Ireland" and the Charities SORP "Accounting and Reportlng by Charilles: Slalement of Recommended Practice applicable lo charltles preparlng Ihelr accounts In accordance wllh Ihe Flnanclal Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102)". 1 Raferenc88 and Admlnl8tratlva Infomiatlon Tall Slorfes Theatre Company Llmiled was Incorporaled on 2 July 1998 as a eAimpany Ilmlted by guarantee, (company number 3591772). On 30 Octob8r 2007. th8 company was règlslered 88 a charity (number 11214161 with the Charity Commisslon. It Is govemed by Ils Memorandum and Artlcles of Associallon, as amended by speclal resolullons on 20 June 2007, 07 D8¢ 2021 and 17 2021. Related partles and Co-operatlon wlth other organl8atlon8 None of the companys Iruslees recelve remuneratlon or other benefit from thelr y￿rk wllh the charlly. Any Connecllon between a Iwslee and senlor employee of the charlty wlth a producllon company, contracled actor, p6rform8r or exhlbltor musl b8 dlsdosed to the full l)oard of trustees In the same way as any other conlraclual r81alionshlp with a related party. TALL STORIES THEATRE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2 A¢hlevements 2024-2025 2.1 Producllon$ Thls year was packed wilh activity for Tall Slortes. We pr(MJuced 9 dlfferent shows wlth 891 p8rfomian¢es In thè UK and 390 perforfflances internallonally across 4 conllnenls. Of thes8 93 w8r8 accesslble performances. We are particularly proud to hav8 reached a total UK audlence of 215.080 wlth a total Internallonal audlenco of 193,259. Our successes this year include: Th8 Smeds and Th• Smoos belng nomlnaled for The Ollvler Awards 2024 In Best Family Show category. Th8 show also returned to The Edinburgh Frlng8 Fesllv81 In August. The productlon Is a remarkable demonstratlon of sklll, wmh hlgh productlon values. from Ihe well-crafted puppetry and vivld set deslgn ¢0 the lovely coslumes and choreography. - One4review.co,uk Thè Elmgr Advonture based on Davld Mckee's Elmer books whlch had Its world premler8 sl Lowry S8lford followed by 8 Second week 81 Soulhbank Centre London Sn Oclober half term. Th8re werè 20 performances across o weeks wlth a total audience of 9093. We were delighted to work wllh long slandlng Tall Storles ¢reallvos such as Yvonn8 Ston8 {Pupp8t Dlreclor) as well as forming new creative collaborallons with Amanda Mascarenhas (Designer), Rajiv Pattanl (Llghllng DeslgnBr). Hattie North (Sound De81gner), Matthew Floyd Jones (Composer) and Sundeep Salnl (Movement Dlreclor). Thls company c8r88 81)oul Ils shows and Ils 8ud18nc8S. Frost Magazine Thg 8Ctors were 8mazlng 8nd I realty Ilked Ihal Iher8 wa8 diversity 8mongst Ihe aclors. It W8s all beautifvlly P8rform8d. The Int8r8cllve element m8de it v&ry fun. - Audlence Member Our Chrl8tma8 Productlons Increased thls year conslstlng of our family offering over the fesllve perlod wllh four 81t down runs of our shows across the UK; Warwlck Arts Centre, Arlsoepol Barnel. The Walermlll Theatre Banbury and Lyrlc Theatre West End. I took my klds to Sa8 The Gruffalo yeslerday and Ilusl wan18d to 8sk you to pass my thanks to the 8clors and cr&w. If was excellent (as your produclions nonnally arel). My 7 ye8r old had earlierpronounced himselftoo grown up for It, bu¢ loved 11, My 4 year old (shy. aullsllc. barely verb81) was ullerfy Ir8nsfixed, p8rchgd on the edgg of hls s88t from Ihe momgnt lh8 8Ctors walked oul.. A wonderful start lo the Christmas season ... - Aud18nce M8mb8r, The WatermS11 Banl)ury TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ObJa¢tlvg8, maln actlvltl88. and publlc benèfit Tall Stories brings great stories to life for audi8nc8s of all ages. The award.winning Iheatre company is a reglst8red charity which tours the UK and the wortd with ils exciting blend of storytelling Ihealre, original music and 1018 of laughs. Tall Stories shows have played in the West End, on Broadway 8nd in Sydney Opera House - as well a8 In all kSnds of venues and counlries In between. Tall Stories was founded In 1997 by Ollvla Jacobs and Toby Mltchell. Slnce 1997 Tall Storles has c￿Created and staged 31 producllons. In 5 languages, In 15 countries. over 6 conlinenls. The company's most noted and popular productions Include." The Gruffalo; The Srneds and Tho Smoos; Room on the Broom; The ElmerAdvenlure; Futur8 Perfect; The Snow Dr8gon and Wilde Cfealures. More detalled Informatlon on our WOFk can ba found here %W•VW.lallstories.org.uk Tall Slorles sets th8 benchmark for chlldreTr's theatre (Th8 Sunday Tlmes) Our Brand Promlses We keep il slmple. do try thls al home Wg put a pau58 on Ilfe to transport you Into 8nolh8r worfd EveNhlng we do Is In lechnlcolour W8 Invlle people (blg and small) lo feel and talk W8 encourage play and slllines5 We open LSP the maglc of Tall Slorfes for all chlldren W6 valve and care lor one another We are commllt8d to maklng Tall Storie8 a stable, safe, and fair organlsatlon for all Ils staff. 8takeholder8, and beneficiaries. Al polI￿e8 are revlewed and updated regvlady. We are developlng an Inclu$lon Pollcy wllh our Staff es well as havlng an Incluslon Sub Commlllee In placa to d8monslr8te our commllmenl to dlversrfying who we work wlth 8nd how we work. Publlc boneflt The maln obl8cIIv8 of tho charlty Is to advance education for the public benefit by the promotlon of Ihe arts. In particular but not excluslvely the art of (Irama. The charity tours on Ihe mldscale lo brlng hlgh quality drama to audlences from 811 walks ol Ilf8, worklng Mth our partners to remove baTrl8rs lo allèndance where posslble. The charlly confirms Ihat Ihe trustees have consld8r8d th8 Charlty Commlsslon's guldance on public benefit as roqulred by the Charilies Act 2011, The trustees conslder Ihat the work of Tall Storles provldes considerable benoflt to Ihg publlc as IIIu8tr818d by the actlvllles and achievément8 descrlbed In this report. Incluslon In 2024-25 w8 contlnu8d lo bulld on our access and Incluslon offer and presenled 93 performances wlth dedlcated access provlslon Includlng relaxed, BSL Interpreted and audio-descAibed performances ￿th accompanylng touch tours. We are passlonate alx)ul creating opportunllies to excite young Imaglnallons and Insplre a Ilfe-long love for thealre. We belleve that everyone should have access to culture. regardless of geographical, structural and soclal and economic barriers. As such, Inlegraled BSL p8rformancès. touch lours. resource packs. meet and greets. wotkshops wilh chlldren, famllles and teachers all remaln vllal to the wraparound of our shows, to deepen the engagernent with the work and wlden our access. We have continued lo nurture and grow partnerships lo enable more children and familles who might olherwise not have access to arts and cullure to h8v8 m8mor8ble positive experiences. TALL STORIES THEATRE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2.2 Crèatlva Programm88 DlreGlor8 Short Course My lime on Iho T811 Slorles course was dlsllngulsh8d by Joy, conslwctlve play. Insplring Ideas and guldanGe, and w&s incrediblyben8fici81 to my developmenl as a dlreclor. In FebN8ry 2025 we ran the Dlrectors Short Course over thre8 cons8CUtlve Saturdays. Th18 Is the 88cond Ilme w8 have offered this course. and places are offered fre8 of charge Ihrough applicallon process. Elght dlrectors were selected to lake part. We had five Tall Stories performers on the second and Ihlrd day to allow the Dlreclors lo work wllh performers as opposed lo dlrecllng each other, allowlng them to focus on thelr dlrecting technlque. This d8vèlopm8nl from the first course wè rdn followlng fèedback from partlclpants. The T811 Slories Directors Short Cours8 was an inspiring and praclical deep dive Into Ihe beautiful art of 8torylelllng. Th8 sessions wore plamul, Inslghlful. 8nd packed wRh tools I'1118kè Into my own dlre¢llng wo￿. It gave me a fresh perspective on maklng Iheatre for young audlences 8nd 8 re81 confldence boost In my creatlve Cholces. I'd hlghly recommend It Io any dlreclor looklng lo sh8rpon thelr skllls In a lun and supportlve space. Dlrector8 Award I really enjoyed my week as part of Ihe Tall Slortes Dlr8Ctors Award SGhem8. I got to work on a pml8cI Ih8t I wa5 really exclled to bring to Ille. The company 18 ggnemus and supportlve and Ihe scheme Is a great opportunlly for dlrectors to work on thelrldeas and craft. Thls year was our Inaugural year of our Dlreclor8 Award which saw lour direclors spend a week in the studio developlng Ihelr storylelllng Idea with a small budget provlded by Tall Storfes. The dlreclors were selected through an appllcatlon process. The dlreclors and id8as they w8re dev8loplng were as follows: Penny Dy8r by Rach81 Rooney worked on an adaptallon of lh8 book 'Th8 Worr￿ng Worr18s' (15 - 19 Aprll 2024) • Falzal Abdullah worked on adapllng slortes from 'Malay Sketches, by Allfian Sa'at (22 - 26 Aprtl 2024) Sofia Galluccl worked on 'HuSS￿ a cabaret 8how that fealures aclor-muslclans and explores the hlslory of the Ladles ol Covenl Garden (29 April- 3 May 2024) Ozloma Ihesiene with her collaboralor Dalu worked on an autobiographic81 show called IZWI based on Dalu's experience of mlgration to the UK (1- 5 July 2024) Thg T811 Storlas Dlr8¢1ors Aw8rd has b88n so Instnimenlal In supporting my own artlsll¢ evolution 8nd the d8velopmgnl ofmy own worf( as a crgallvg. As 8n 88rfy care8r Ihe8lr8 dlreclor Im constanlly $l￿ddI1n9 pushlng my own career development fomard wtth also lrylng to make R 8 Ilnanclal stable Gareer whlGh often leads to lols of creallve Jobs whlch don¥ support my own creative development... Thls opportunity was purely 8bout giving my own Ideas Ihe space to bTrath9 and live... Any creative. aclor. dirgctor Ihgalro maker wilh an ilch to mak8 Ihelr own work and develop Iheir own practlce bul feels reslncled to do so in our arts environment, APPLYI TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2.3 Local Communlty Studlo Performances We reached an addillonal 655 young people. teachers and thelr families across 14 performances as part of our free preview Initiative which saw us partner with 12 local primary schools in Islington Including 1 spe¢lallsl school for chlldren with autism and different leaming profiles as part of the Islington 11 by 11 programme,. and 1 school for Deaf children for our The Elmer Adventure BSL pr8Vi8w performan¢e. We also worked with Th8 Parent House, All Change Arts, Glngerbread Isllngton and Isllngton Foslaring Servlce to reach famllles who would not olh8rwlso go lo Ihealre. The Patchwork Elephant Story Adv8nture Project Today I mad8 my first P8lchwork, ils 8m8zingl In November Tall Slorles and St Luke's Communlty Centre Jolned logelher to hold the Patchwork Story Adventure Project workshop led by Amanda Mascarenhas {Deslgner. The Elmer Adventure). This Intergenerational workshop involved younger and older members ¢onne¢ting with ea¢h other by playing games and sharlng slorles about Ihelr blggesl adv8nlura. They wrote their stories down and drew a picture represenlation of the story. They Ih8n recreated th8 plcture using felt square bas8, other material and fabric pens. These squares wlll b8 put tog81h8r to mak8 a story qullt. Th8 partlclpants Went lo s88 th8 show at th8 Elm8rAdventure Show at Iha South Bank Centre. The team was am8zing. very friendly wami + welcoming. I Ihink Ihis conlribuled immensely to the aclivily. We enjoyed crealing ourpatchwork + also the interaclive games. It was a very well organised day wilh lots of creallvity. Thank you very much. Empathy Fe8tlval Tall Slorl8s worked wlth Empalhy L8b lo record a vldeo of Fellcla Akln-Tayo readlng the first Elmer Book. Elmer Is Empalhy Lab's empalhy symbol. Empalhy Lab encourages chlldren lo learn empathy skllls and to put them Into 8cllon through readlng books. Th8 vldeo was played as part of the empathy day programme on 6 June 2024. Th8 vld80 can be found here.. hll s:IfvMw. ulube.comhvatch?v=ObdZio-P2Rk More delalled Infomiallon on Empathy Lab can be found here: https:Ilempathylab.uklrfel 2.4 Audlences We continued lo work with Fly A Kite by sending surveys to our audlences through a nelwork of slx UK wide venu8S as well as Tunnlng five focus groups between June 2024 and March 2025. The purpose of Ihls Is to understand who our audlenc8 is and how Ihay perceive our work and the company itself. Following feedback from our audiences. together wllh Input from our staff, we hav8 worked with them to develop our Brand Promises and a company tag Iln9. Thls wlll allow us to d6velop a network of core audlence who book for Tall Stories rather than show lilles. We wlll also understand who we are not reaching and. plan to create an audience development strategy from thls. 2.5 Slrateglc Revl8W We started working with Sandeep Mahal and Gregory Nash from People Makej It Work to r8fl8Ct on Tall Storles. nearly 30-year history. lo inform our future. The process included a slrategy day with all Trustees in January which led to defining four areas of work for Tall Stories, to focus on for ils future. TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2.6 Organlsatlonal Dèvelopment and Future Plans (2025-2026) We will finalise our five-year slralegic, plan uslng the Strategic Review as a basis, and develop yearly action plan for each year. There are four key Ambltlons in lh8 Stralegic plan which wlll Continue to uphold and enrich our public benefit: 1. Broadenlngthe Artlstlc Programme of Work through Increaslng the br8adlh of slori8s b8lng told, belng Innovative in our creatlve practice and form. and expanding our pool of collaborators and partners to wlden Ihe scop8 and publi¢ experience of the arts. 2. Relnvlgorallng our Tourlng and Partnershlps model through meanlngful engagement wllh th?alre venues, both nationally and Inlemetlonally. worklng together to ensure Ihe art of drama reaches diverse communitles. The V8nu8s we work wlth wlll b8com8 long term partners. Thls will ensura an Increased and regular provlslon of the arts beyond London. 3. Conlinulng to cenlre Audlenc83 and Ac¢e88 In our stfalegy, we remain committed to ensurSn9 ihal all chlldren and famllles can be offered the Joy of theatre. We wlll bulld on pasl 8ch18vament$ and wlden and deepen our rèach by worklng to reduce barrlers for polent1818udlences so that mor8 chlldren can benent {both In short 8nd long term) from early years experlence of the arts. 4, Wldenlng our Impact both wlthln the Industry (Talent Development) and outslde of Ihe Industry (Advocacy and Pollcy Development} we ensure that we promote the arts as fully as possible. We also 8nsur8 W8 ar8 creating meanlngful change for and withln the sector's workforce as well as keeping arts on Ihe Educallon agenda for public benefit. 3.0 FlnBnclal Revlèw, Résèrve8 and Rlsk The charlly ended the year In a posllive financlal posillon. The Income for lh8 flnanclal y8ar wa8 £2,945,627 (2024: £2,576,065), with expendllure of £2,642.579 (2024: £2.138.567). Th8 charity malnt8ln$ 8 strong level of reserves and has 8ullSclent funds lo cover its overhead expenditure for a P8rlod of slx months. Reserves pollcy In d8t8rmlnSng the charitys reserves pollcy, the Dlrectofs have had reg8rd to th8 Charity Commission's guidance publlcallon °Charllles' Reserves. {CC19), The tnjslees regularfy review Currenl finance5 and fulure financ181 trends of the charlty, and, as paty of thls process, revlew Ils level of reserves and Ils resep4es pollcy 8nnually, These are described as below.. Unrestrlcled reserves (Ihat Is, funds whlch are not reslrfoted but whl¢h mlght be deslgnaledl tolaling £2,193,339 were held at 31 March 2025 In the lunds described below. 1) Capllal Fund wllh a balance of £150.000. A desbgnated fund for any capSlal 8xpendllur8 connectlng lo our offlce and sludlo, 2) Creallve Development Fund wlth a balance of £500.000. A deslgnated fund for future productlon and davelopment. 3) Artlsl Development Fund wllh a b8lance of £200,000, A deslgnaled fund for development of underrepresented artlsls 4) Education Fund wlth a balanc8 01 £100,OIM). A d8signated fund for supportlng schools to allend productlons 8nd ancillary workshops (oracy and Ilteracy). 5> Fixed Assets Fund wlth a balance of £210.143. A designated fijnd represenllng Ihe net book value of tanglble fixed 85sels. 6) Produclion C8ncellatlon Fund wilh a balanca 01 £250.000. A designated fund lo cover all cosls If we had Io cancal our runnSng productlons. 7) Staffing Fund ￿th e balance of £100,000, A deslgnated fund to cover exceptlonal costs for our 5laff team. 8) General Fund with a balance of £683,196 whlch amounts to the balance of unrestricted funds after the Company's designations. The reseN8s policy aims lo hold th8 equivalent of six months. core Nnnlng costs. The Iruslees have concluded that Ihe balance of thls fund Is adaquato. TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rlsk Managoment We have a Risk Regisler which iijenlifies and assesses Potenlial risk. Risks are classed in temis of low lo high. Thay are assessed In categorles Including Slrategic, Flnan¢ial. Operalional. and Repulallonal. In response lo any rlsks Idenllfled, pollcles are esiabllshed wllh systems and procedures lo mlllgate and manage rlsks. Rlsk management Is a slandlng item at all quarterly Board meetlngs, alongslde quarterly revlews of management and company accounts. FoGused task groups aro a150 form8d as required if dedicalgd plannlng Is required for a particular area of risk. 4 Structure, Governance and Management Congtltutlon The charfly Is governed by a Board of Tnjslees. wlth a mlnlmum of 3 and a maxlmum of 7, 88 81ated In our Artlcles ofAsso¢lallon. The power of 8ppointlng Trustees rests wlth the Trustees In office. The Bo8rd meets qU8rierly durlng the year, The Board has two submmercial slde of the industry. We are also part of the Coundl's Cultural Leads strategy group. We want to build on Ihls base and create even stronger links Into the community and wilh local schools. The aim over Ihe coming years 18 to use our Studio to connect wllh the local community more an(1 Increase our Impact on Ihe IIv8s of local children and famllias. Audltor In accordance with Ihe company's artides, a resolulion proposlng Ihat Xelnadin Audlt Limlled ba rèappolnted a8 audilor of th8 companywill be put al a General Meeting. TALL STORIES THEATRE COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Dlsclosur8 of Informatlon to audltor Each of the Iruslees has conflmied that there Is no Information of whlch Ih8y are awar8 whlch Is relevant to the audlt. but of whlch th8 audllor Is unaware. They have furiher confirmed that they hav8 laken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Irustees, report was approved by Ihe 8oard of Twslees. P Daly Tru8t80 TALL STORIES THEATRE COMPANY LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 Th8 trust88s. who are also the dlreclors of Tall Slorles Theatr8 Company Llmited for the purpose of company law, are responslble for preparlng Ihe Trustees, Report and the financial slalements in accordance wlth appllcable law and Unilod Kingdom Accounllno Standards (United Kingdom G8n8rally Accepted Accounting PractlC8). Company law requlres the trustees to prepare financial slatemenls for each financial year which olve a tru8 and falr vlew of the stale of affairs of the charity and of the Incoming resources and appllcallon of rÉsources. Including tha Income and 8xp8nditure, of the charllabla company for that y8ar. In preparfng these flnanclal statements. the trustees are requlred to: select sultable accounting polici85 end then apply them conslstently: observe the molhods and principles In the Charities SORP: make judg8m8nls and estlmates that are reasonable and prudenl: and prepare Ihe fin8nclal slalements on the going concem basls unless It Is Inapproprfate to presume that the charity w511 contlnu8 In operatlon. The Irust88s are r8sponslble for keeplng adequate accounling records Ihat dlsdo8e wllh reasonabl8 accuraoy al any lime Ihe flnanclal poslllon of the charily and enable Ihem lo ensure that the financial st818menls comply with th8 Companle8 Act 2006. They are also responslble for saf8guardlng Ihe assets of Ihe charlly and henc8 for laklng reasonablè steps for the prevention and delecllon of fraud 8nd other Irregularities. 10- TALL STORIES THEATRE COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF TALL STORIES THEATRE COMPANY LIMITED Oplnlon We have audited Ihe flnanclal statements of Tall Stories Theatr8 Company Llmlted (the 'charity') for Ihe year ended 31 March 2025 whlch comprise th8 Statem8nl of financial acllv1118S. the balance sheet. the 51alement of cash flows and notes to the flnanclal slatemenls, Includin9 significant accounting pollcles. The financial reporling framework that has been applied in their preparation is applicable law and United Kingdom Accountlng S18ndard$, Includlng Financial Reporting Standard 102 The Financial Repoth'ng Standard applic8b18 In the UK and Republic of Ireland (Unlted Klngdom Gener811y Accepted Ac¢ountlng Pwtic*). In our oplnlon, th8 finan¢lal stalemenis: give a true and falr vlaw of the slate of the charitable companls affalrs 88 at 31 March 2025 and of Its incomlng resources and 8ppllcallon of resource5, Including 118 Income and 6xpendllure, lor Iho year then ended; have been properly prepared In accordance wllh Unlled Klngdom Generally Acc8Pted Accountlng Pr8cllca,' and hav8 been prepared In accordance with the requlremenls of the Companles Act 2006. Basls for oplnlon We conducted our audlt In a¢¢ordance wilh Intemallonal Standards on Audlllng (UK) (ISAS (UK)) and applicable law. Our responslbllllles under those standards are further descrlbed In the Audllorfs responslbllilies for th8 8udll of Ihe Ilnanclal sfatemenls section of our report. W8 8ré Independènl of the charity In accordance wlth the elhlcal requlremenls that are relevant to our audil of tha financlal slalements In the UK. includlng the FRC'S Ethlcal standard, and we have fulfllled our other ethlcal responslbllllles In ac￿rdanCe wllh these requlremenls. We belleve that the audit evldence we have oblalned Is suffidenl and appropriale lo provlde a b8sls for our oplnlon. Concluslons rolatlng to golng concem In auditlng the flnanclal slalemenls, we have Concluded thal the truslees, use of the golng concem bas18 of 8¢counllng In the preparatlon of the financ5al stalemenls is appropr181e. Based on thg work we have performed. we have not identified any materlal uncertalnlles relallng to events or condltions that, individually or collectively, may casl significant doubt on the charity's ability lo continua as a oolng oncern for a perlod of at least hvelve months from when the financial slalemenls are aulhorised for Issu8. Our r8sponslbllltl88 and the r88ponslbllllles of the trustees with respect to golng concem are de8cdbed In th8 relevant secllons of thls r&port. othèr Informallon The other Informallon ¢ompr15es the Informallon Included in the annual report other than the financlal statements and our audltoffs report thereon. The tru51ees are responsible for the other Information contain8d within the annu81 report. Our opinion on the financial slalem8nls does not cover the other Infomiation and, except lo Ihe extent otherwise expllcllly staled In our report, wo do not express any fonn of assurance concluslon thereon. Our responslbility Is lo read Ihe olher Informatlon and, In dolng so. consider wheth8r Ihe other Informatlon Is malerlally Inconslstenl ￿th the fln8nclal Statements or our knowledge obtalned in th8 cours8 of lh8 audlt. or othanwlse appears to b8 materlally mlsstated. If we Identify such material inconsistencies or apparent ma18rlal mlsstalements, we are requlr8d lo dalermlne whethei thls gives rise to a material misstatement In the financlal statements themselves. If, based on the work we have performed, we wnclude that there18 a material mls51alement of this other inlormallon, we are requlred to report that facl. We have nothlng lo report In thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our oplnlon. based on the work undertaken in Ihe course of our audll: the information glven In the truslee8' report for the financial year fw which the financial statements are prepared. which includes Ihe direclors, report prepared for the purpos8s ol company law. Is conslstent wlth tha financlal st818ments' and the dlr8clors' reF)Ort Included withln the truslees, report has been prepared In accordance wlth appll¢abl8 legal requlrements. 11 TALL STORIES THEATRE COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF TALL STORIES THEATRE COMPANY LIMITED Matters on whlch wo are rèqulred to report by 8xcepllon In the Ilght of the knowledge and understanding of the charlty and Ils environmenl obtaln8d In the course of the audlt, we have not Idenlified material misslal8menls In th8 dlraclors, report included wlthln Iha trustees, report. We have nolhlng to report In respect of the followlng Matters In relalion lo whlch th8 Companles Act 2006 requlres us lo report lo you if. in our oplnlon: 8dequate accounllng records have not b88n kept, or returns adequat8 for our audll have not been receSved from branches nol visited by us; or the financial statements are not in agre6m8nt wlth Ihe accountlng records and r8tums; or certaln dlsclosures of Iruslees, remunerallon sp8clfled by law are not mado; or we have nol received all the information and explanalions we require for our audll- or Ihe trus18es were not enlllled to prepare the financlal slalemenls in accordance with th& small ¢ompanles reoim8 and lake advanlage of lh6 small companies, exemptions In preparing the trustees. feporl and from the requlrement to prepare a slr8leglc report. Rgsponslbllltle8 of trustee8 As explalned more fully in the slatem8nt of truste8s' résponslbllllles, the Irust888, who ar8 also the dlrectors of the charlty for the purpo56 of company law, are responslble for the preparallon of the financlal stat8m8nts and for belng satlsfie(I that they give a true and falr vlew, and for such Intemal cA)nlrol as the trustees d&l8rmln8 Is necessary lo enable the preparatlon of financlal siatemenls thal ar8 free from m81érial misslatemenl. whether du8 to fraud or error. In prep8rfng the finan¢l81 statements. the trust88s are responslble for assessing th8 charitl8 ablllty to conllnue 88 a golng concern. dlsclosing, as appllcabl8, matters related to going concern and uslng the golng concern basls of accounting unless th8 trustees elther Intend to liquidate the charftable company or to C88se operallons, or have no realisllc allernallve bul to do so. Audltor's respon8lbllltles for tho audlt of Ihe flnanclal Statements Our oblecllves are lo oblain reasonable assurance about whether th8 financial statemènts as a whole are fre8 from malerlal mlsslalemenl. whether dua lo Iraud or error. and to ISSU8 an 8udllorfs report that Includes our oplnion. Reasonable assurance Is a hlgh lavel of assurance but is not a guarantee Ihal an audlt Mnducted in accordance with ISAS {UK) will aNvays detect a material misst8temenl when It exlsls. Misstatements can arise from fraud or error and are consldered malerlal If, Individually or In the aggregale. they could reasonably be exp8cl8d lo Influence the economlc decl$lons of users taken on the basls of these financlal Statements. The extent lo whlch our procedures are Capable of detecling Irregulafllles. Includlng fraud, Is d8tailed b81ow. Id8ntity and as8e8S the rlsk of malerlal mlsslatemenl ol the flnanclal slatements, whether due to fraud or error, d8slgn and perform audlt procedures responsSve to those Tisks, and obtain audit evidence that is sufficient and approprlate lo provlde a basss for our oplnlon. The risk of not delecting 8 maledal mlsslatement resultlng from fraud 13 hlgher than for one resulting from error, as fraud may Involve collusion. forgery. Inlenllonal omlsslons, mlsrepresenlallons or the override of Internal control. Oblaln an understandlng of Intemal control relevant to the audlt lft order lo deslgn audlt procedures that are appropriate In the cirGumst8nces, but not for the purposes of expressing an opinlon on the effecliveness ol the comp8ny's internal control. Evaluate the approprlateness of accounllng pollcles used and the reasonableness of a¢countlng esllmales and the related dlsclosures made by Ihe dlreclors. Condude on the 8pproprlateness of th8 directors, use of th8 going conc8rn basls of accounling and, based on th8 audit evidence obtained. whether a rnalerial uncertainly 8xisls rola18d to 8venl or conditions that may cast significant doubl on the ¢ompanY5 ability to continue as a going concem. If we conclude that a material uncertainty exlsls. we aro requlred to draw allenlion in our auditors report lo Ihe related disdosure In the financi81 slateTnenls or, if such dlsdosures are inadequate to modify our ijpinion. Our conclusions are based on th8 audit evldence obl8ined up to the dat8 of our audltofs report. However. future events or conditions may cause the company to cease to ¢ontlnue as a going concem. Evaluate Ihe overall presenlalion, struclure and content of the financial stalernents, including Ihe disclosures. and whelher tho financial slatemenis represenl Ihe underlying transactions and evenl$ in a manner that achieves falr presenialion. 12- TALL STORIES THEATRE COMPANY LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF TALL STORIES THEATRE COMPANY LIMITED A further descriptlon of our r8sponslb111118s Is avallabl8 on the Flnanclal Reporting Councll's w8bsll8 at,, https,'Il www.fr¢.org.ukJauditOTsresponsibllilles. Thls descrlptlon loms part of our audilorfs report. Use of our report Thls report Is made solely lo the chari18ble companys members, as a body, In accordance with Chapter 3 of Part 16 of Ihe Companles Act 2006. Our audll work has been undertaken so that W8 mlght slate to the charilable company's members those matters wa 8re requlred lo stale to them in an auditor's report and for no other purpose. To Ihe fullest ext8nt P8rmltt8d by law. we do not accept or assume responslbllity to anyone other than th8 charilabl8 company and the charitable compan￿5 members as a body. for our audit work, for this r8POrt, or for the oplnlons we have formed. Hazel Day Bsc (Hons) FCA DChA (Senlor Slalutory Audllor) For and on behalf of Xelnadln Audll Llmlled, Slalulory Auditor Chartered Accountanls 46-48 Easl Street Epsom Surr8y KT17 1HQ United Kingdom 13- TALL STORIES THEATRE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unr•strlctod Unreslrlcted funds fund8 2025 2024 Not•s Incomo from: Donations and legacles Charitable aclivilies Merchandlse Income Inveslmen18 5,315 2,494,842 72,604 3.304 2,851,293 79,390 14,944 Tolal Income 2,945,627 2,576,065 Expandllur6 On: R8lslng ftJnds Charllable actlvltles 53.133 2,589,445 46.814 2.091,753 Total expendlture 2,642,578 2,138,567 Net Incom8 and movement In funds 303,049 437,498 Reconclllatlon of funds: Fund balances al 1 Aprll 2024 1,890,290 1,452,792 Fund balancgs al 31 March 2025 2.193.339 1,890,290 The slatemenl of financlal acllvltles Includes 811 gains and losses recognlsed In Ihe year. All Income and 8XP8ndltur8 derive from conllnulng actlvllles. 14- TALL STORIES THEATRE COMPANY LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 15 210,143 236,685 Current assets Stocks Deblors Invoslmenl8 Cash at bank and in hand 17 18 19 14,302 1,940,809 14,655 722.323 500,000 753,598 703,454 2,658,565 1,990,576 Crodltors: amounts falllng due wlthln one yoar 20 {675,369) {336.971) Net currant asset8 1,983,196 1,653,605 Total 888el81088 current Ilablllt108 2.193,339 1.890.290 Th6 funds of Iho charlty Unreslricted funds 21 2,193.339 1.890.290 2,193.339 1,890,290 The financlal statements were approved by the truslees on ...11.Iw3kthA>q P Daly Tru8180 Company reglstration number 03591772 (England and Wales) 15- TALL STORIES THEATRE COMPANY LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng actlvltles Cash (absorbed byygenerated from operations 23 {563,250) 410.912 Investlng acllvltl88 Purchase of tanglble flxed assets Proceeds from disposal of inveslments InveBlment Income recelved (1.838) 500,000 14,944 (6,065) (500,000) 3,304 Net cash generated froml(u8ed In) Investlng actlvltle8 513,106 (502,761) Not cash generated from flnanclng acllvlllos Not dgcrease In cash and cash equlvalenls (50.144) (91,849) C88h and cash 8qulva18nts 8t beglnnlng of year 753,598 845,447 Cash and cash equlvalents at end of year 703,454 753,598 16- TALL STORIES THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charlty InfomialSon Tall Slorles The8lre Company Limlled Is a private company limited by gu8rantee incorporated In England and Wales. The registered office Is . 1.1 Accountlng conventlon Th8 flnanclal statements have be8n prepared in accordance with thg charity's governlng document, th8 Companles Act 2006, FRS 102 Yhe Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland" and the Charltles SORP 'Accounling and Reportlng by Charities: Statem8nl of Recommended Practice applicable to charities preparin9 thelr a¢¢ounls In a¢¢ordance with th& Flnanclal R8POrtlng Standard applic8ble Sn the UK and Republic of Ireland (FRS 102)". The charily Is a Publi¢ Benefit Enllly a8 defined by FRS 102. The flnanclal statements are prepared In sltsrllng. whlch Is the funcllonal currency of th8 charfty. Monelary amounts In Ihgse financial statements are rounded to the nearest £. The financlal slalemenls have been prepared under the hlstorlcal cosl convenlion. The principal 8ccounling pollcies adopted are set out below. 1.2 Golng concèrn At the lime of approvlng the ffinandal slalemenls, the Irusle88 h8V8 a reasonable exp8Ctalion that the charity has adequ8te resour¢es lo continue In operallonal exlslence for the foreseeabl8 future. Thus Ihe trustees contlnu8 lo adopt th8 going concem basls of accA)untlng in preparlng the fjnanclal 81atemenls. 1.3 Charltable fundB Unreslricled funds are available for use al the d5scr8tlon of the tru8t8è8 In furth8ranc8 01 Ih81r charilable objectives. Deslgnaled fund8 represènl amounts set asld8 by th8 trustees for sp8cific purposes and are accounted for 88parately from unrestrlcted general funds. Restrlcted funds are subJect lo specific condltlons by donors or grantors as lo how th8y may b8 used. The purposes and uses of the r6stricled lunds are sel out In the notes lo lh8 finandal slatemenls. Further explanation of the natur8 and purpos8 of 88ch fund is included In the notes of the financlal statements. 1.4 Income Incom8 Is rocognlsed when the charity Is legally entltled to St after any performance conditlons have been mèl, the amounts can be measured rellably. and It Is probable that incom8 will be received. Income from Ihe sale of merchandlse Is recognlsed al the date of th9 sale. Income from Ih8alrtcal porformances is recognlsed based on Ihe date of tha perfomiance. 17- TALL STORIES THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcl08 {Contlnued) 1.5 Expendlture Expenditure Is re¢ognlsed once there is a legal or constnjctlve obligation lo transfer economlc benefit to 8 third party, it is probab18 that a transler of economic ben8fits will be requlred In settlemanl, and the amount of the obllgallon can be measur8d rellably. Expendlture Is classlfied by actlvlty. The costs of each acllv5ty ar8 made up of th8 lolal of dir8ct costs and sh8r8d cos18. Includlng support costs involv8d In undertaklng each activity. D5r8Ct costs allributable to a slngl8 acllvity are allocated directly to Ihal activity. Shar8d Costs whlch contribute to more than one aclivlty and support costs whlch are not allribulabl8 lo a single activity are apportloned betsveen those acllvllles on 8 basls conslslent wilh the use of resource8. Cenlral staff costs ara allocatèd on the basls of lime spent, and depr8cialion Charges are allocated on the portlon of the 88sel's use. 1.6 Tanglble flxed assets Tangible fixed assets are Inltlally measured at cost and subsequently measured al cost or valuation, net of depreclallon and 8ny Impalrmenl losses. D8preclatlon 1$ recognlsed so as to wrfte off the cost or valuatbn ol assets less theSr residual valu88 over thelr usèful Ilves on the following bases: Long le8sehold Planl and equlpment FSxlures and fillings Motor vehlcl88 Slreighl Ilne over 20 years Stralght Ilne over 3 years Straighl line over 15 years arKI Slralght Ilne ov8r 10 years Slralght lin8 Over 6 years The galn or Ioss 8rislng on Ihe dlsposal of an asset Is d8termlned 8$ Ihe difference be￿een th8 S818 proceeds and the cafrylng value of Ihe asset, and Is recognlsed In the statement of finanrial acllvilles. 1,7 stocks Stocks are slated at the lower of cost and esllmaled selllng prlce less cosls to complete and sell. Cost mprlses direcl malerials and, where applicable, difecl labour fA)$l$ and those overhe8ds that have been Incurred In brlnglng the 8lock8 lo thelr present location and condition. Items held for d18tr5bullon at no or nomlnal conslderatlon are measured the lower of replacÈment cost and cost. Nel realisable value Is the esWmaled selling price less all esilmaled costs of compleuon and costs to be Incurred In rnarkeling. selling and distribution. 1.8 Cash and cash equlvalent8 Cash and cash equivalents inctude cash In hand, dèposlts held at call with banks, other short-lerm liquid Inveslmenls with orlglnal maturllles of three months or less, and bank overdrafts. Bank overdrafts are shown wilhln borrowings In current Ilabllllles. 1.9 Flnanclal In8trumèntB The charity has elecled lo apply the provlslons of Secllon 11 '8aslc Flnanclal Instruments, and Secllon 12 'Olher Flnancl81 Instruments Issues. of FRS 10210 all of Its financial Instruments. Financial inslrumenls are r8cognlsed In the charitys balance sheet vthen the charlty becomes party lo the conlraclual provislons of tha Instrumonl. Financial assets and liabilities are offset. with th8 net amounls presanted In th8 Ilnanclal statements. when there Is a legally enforceable right to set off Ihe recognlsod amounts and thare Is an Intentlon to settle on a net basls or lo realise the assel and settle the liability simultaneously. 18- TALL STORIES THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Contlnuod) BaslG Ilnan¢lal assels Baslc flnancial assets, which include debtors and Cash and bank balances, are Inltlally measured at trans8cllon prlce including transactlon cosis and are subsequently carrted at amortlsed cost uslng the offecllve Interosl method unless tho arrangement constltutes a flnanclng transactlon. where th8 transacllon Is measured al tho present value of the future receipts dlscounied al 8 market rate of Interest. Flnanclal assels classlfled as receivable wilhln one year are not amortised. Baslc flnanclal Ilabllltles Baslc financial Ilabilllies, Including creditors and b8nk loans are Initlally recognised at Iransacllon prfce unles8 the arrangement constllutes a financing transactlon. where the debt Instrument Is measured al th8 present value of the future payments discounted at a market rale of Interest. Financial liabililies classified a8 payable wllhln one year are not amortlsed. Debt Instrumen18 are sUbseqUen￿Y Carfled at 8mortlsed Cost. uslng the effecUve Interest rate mathod. Trade creditors are obligatlons to pay for goods or services that have been acqulred In the ordlnary course of operations from suppliers. Amounts payable are classified as ¢urffjnt liabilities if payment Is due wilhln one year or less. If not, they are presented as non