OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Registered number: 05088552 Charity number: 1129199

NEW INTERNATIONAL ENCOUNTER

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

NEW INTERNATIONAL ENCOUNTER

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 9
Trustees' responsibilities statement 10
Independent examiner's report 11 - 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 30

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Taruna Dookhee (appointed 12 February 2025)
Gwen Hanauer
Claire Hardy (appointed 10 June 2024)
Deborah Hayman-Nkhoma
Marie Kennedy (appointed 12 February 2025)
Isabel Morgan (appointed 12 February 2025)
Brigita Petrova
Sarbjit Rana
Rowena Russell
Jacob Zorenti-Nakhid (resigned 12 August 2024)
Sara Garnham (resigned 12 August 2024)
Company registered
number
05088552
Charity registered
number
1129199
Registered office
Cambridge Junction
Clifton Way
Cambridge
Cambrigeshire
CB1 7GX
Company secretary
Lisa Elmer
Accountants
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL
Bankers
Barclays Bank
28 Chesterton Road
Cambridge
CB4 3AZ

Page 1

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the financial statements of New International Encounter for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees’ report and a Directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

OBJECTIVES AND ACTIVITIES

Charitable Objective

The objects of the charity are to advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.

Our Vision

Playful stories that connect us all.

Our aims

We achieve our charitable objectives and vision through bringing together diverse theatre artists from around the world and different backgrounds to work in three key areas:

  1. Shows : creating excellent high-quality performances and projects that provide joy and transformational experiences, especially to young people and their families.

  2. Creative Learning : inspiring young people (particularly those not normally engaged in creative activity) as co-creators, through storytelling and place-making projects, allowing culture to transform their lives.

  3. Talent Development : sharing our expertise, and providing training in the sector, to enhance the quality and diversity of work created for younger audiences. We provide opportunities for artists based in England to internationalise their work and develop sector specific leadership skills.

New International Encounter (NIE) is one of the UK’s leading theatre companies producing work for and with young people. We deliver high quality creative projects across the UK with an international outlook, working in a way that allows people of all abilities to access our work as audience, participants, collaborators, and creative artists.

NIE’s programme of local, national, and international projects reflects, responds to, and celebrates the diversity of contemporary England with a global backdrop.

In planning the activities for the year, the Trustees have given due consideration to guidance published by the Charity Commission relating to public benefit.

Page 2

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

What we achieved and what we created

In 2024-25 our key achievements included:

This programme of work was achieved in partnership by:

Public Benefit

The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aim and objectives and in planning future activities. This report describes the charity's activities delivering public benefit.

Monitoring our aims

NIEs major funder is Arts Council England. We monitor our work against the outcomes and investment principles from the ‘Lets Create’ strategy, embedding these into our project aims and evaluation.

Live Performance

Legends of the Fen

This show, co-created with young people during 23/24, toured to Ramsey, March, Wisbech and Cambridge during the summer of 2024. Performing a combination of school and community performances and reaching over 900 children and adults with the NIE Yurt set up in school halls and playing fields, and the grounds of Wisbech castle.

25 performances, total audience 959.

Hansel & Gretel

We returned to Tobacco Factory Theatres, Bristol for 7 weeks across December and January, with our large scale Family show, Hansel & Gretel. The run was artistically successful and got close to its target audience figure. It reconfirmed a close collaboration with a key partner and reached a wide and varied audience with work of excellent quality.

77 performances, total audience 13,181.

Page 3

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Tales

This was show was co-created with young people, who were inspired by local history and objects from local museums. Their stories were woven into a professional performance by the NIE ensemble, which shared with school and community audiences in March 2025.

4 performances, total audience 170.

Grand Soft Day

This show, an international co-production with Branar, a key partner in Ireland, toured to Brighton Festival and London’s Southbank Centre in Spring 2024.

8 performances, total audience 1,381.

Shakespeare in a Suitcase; Macbeth

In May 2024 this 55 minute production toured to the international Maifest Weisbasden, reaching an international audience of c360.

In Autumn 2024 the production opened at world class Children’s theatre venue, Polka in Wimbledon before touring to schools, libraries and studio venues across the UK. This tour reached total audience of 1905 comprising of children and a wider mix of generations in the libraries and studio venues.

22 performances, audience of over 2,200.

Town Musician of Bremen

A remounting of a co-produced project with ACO Okinawa. Shared with festival audiences at the RiccaRicca* Festa in Okinawa, Japan as part of their international show case. Supported by funding from the GB Sasakowa Foundation

Talent Development

Board Bursary

The programme:

Purpose of the role: The Board appoints external co-opted members to strengthen the breadth of experience and skills available. The role of the co-opted member is to independently assist the NIE Board to effectively discharge its role by providing advice and scrutiny on matters relating to the artistic and inclusivity policies of company development.

Rosy Pigott took up position in this role in September 2024; bringing with her expertise as a practising artists and working with young people.

ASSITEJ Babel Project

NIE Artistic Director Alex Byrne is commissioned as one of the 2 leaders of the ASSITEJ managed, EU funded BABEL project – a series of talent development workshops at children’s theatre festivals across Europe until Autumn 2025.

Page 4

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Artistic Director Alex Byrne delivered a series of workshops for the project this year, reaching 45 artists from across Europe and beyond with a fully funded, on-going, international talent development opportunity.

Assistant Director

NIE worked with Assistant Director, Megan Vaughan-Thomas, during the Hansel and Gretel rehearsal and production phase. Sharing skills and providing a career development opportunity for this emerging director.

Skills Sharing workshop

NIE delivered a skills sharing workshop in December 2024. This workshop shared NIEs approach to our work with 15 artists, giving insights into our work and expanding and amplifying connections with artists in our wider community.

FINANCIAL REVIEW

NIE continued to have strong and financially supportive relationship with Arts Council England (ACE) during 2024-25.

The year overall saw NIE achieve a surplus of £21,605 (2024: £38,970 surplus) with total funds carried forward to 2024-2025 of £182,653 (2024: £161,048) 2024-25 turnover was £413,671 (2024: £398,166) with ACE National Portfolio funding totalling 38% of turnover (2024: 39%). We finished the year with total funds to carry forward of £182,653 (2024: £161,048).

In early 2024 ACE announced a further year extension to the portfolio, which now confirms core annual funding of £156,144 through until end of March 2027. While this continued funding is significant in sustaining NIE’s ongoing operation, and financial security, it represents standstill funding for the organisation. In March 2025 ACE announced a 1.61% uplift to National Portfolio funding for 2025 – 26 onwards, and a further extension of the portfolio to March 2028, subject to application.

NIE continues to work hard in diversifying its income and consolidating its programme to achieve greater resilience - we continue to identify ways to reduce reliance on the NPO grant.

Fundraising

In 2024-25 we made successful grant bids to: Cambridge City Council and the GB Sasakowa foundation. We continue to explore other fundraising models, and significantly a first successful Big Give Arts for Impact campaign raised £10,022 this year. The 23/24 Arts Council NLPG award continued to support delivery of the Legends of the Fen project this year and the Friends Scheme received support totaling £946. At the end of the year we were successful in a second application to the Big Give Arts for Impact match funding campaign, which we will use to lay the foundations of our 2025-26 fundraising.

Earned income

We received £82,363 towards the joint venture co-production of Hansel and Gretel from Tobacco Factory Theatres, and received box office / programming income through touring Macbeth and Grand Soft Day. income was also received through the external commissioning of Artistic Director Alex Byrne to create a new touring show for Batida, Copenhagen and to support further development of work at the RiccaRicca festival in Japan, development of a new show at Batida, Copenhagen. Additional income was also earnt through our Talent Development strand and delivery of workshops in the ASSITEJ International Babel workshops

Page 5

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Theatre Tax Relief

Theatre Tax Relief (TTR) is a creative industry tax relief incentive, funded by the UK government. It offers a tax rebate against the money invested by us in a production of the theatrical piece made for touring. NIE has successfully claimed Theatre Tax relief retrospectively for a number of new works. For 2024-25 £88,392 of Theatre Tax relief will be claimed on our projects.

Investment Policy

NIE have no current investments.

Direct charitable expenditure

Project expenditure included Hansel & Gretel, Grand Soft Day, Shakespeare in a Suitcase touring, legends of the Fen project, creative learning sessions and Talent Development.

Going Concern

The Trustees have reviewed the financial position of the Trust and have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the future. Accordingly, the financial statements continue to be prepared on the going concern basis. More information is included in Note 2.2 to the financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is dependent on external grant funding to support its activities but has active controls in place to manage the risks associated with a shortfall in funding, and closely monitors development. Financial systems are reviewed annually, and the board is kept informed of the financial position of the company through quarterly management reports and actively managed through the Finance and Risk Sub Committee (FRSC).

Managing risk

NIE has a live risk register and matrix which is reviewed at every FRSC and board meeting. The FRSC is well established and provides a further level of scrutiny and review for the organisation.

Reserves Policy

The Trustees review the company's reserves policy in detail on an annual basis. In doing so, they seek to make a realistic assessment of the company's requirements in the light of planned future activities and expenditures, likely income levels and the major operational risks outlined in the risk register. They then balance this against the need to consider the importance of ensuring the delivery of the maximum value from an organisation in receipt of public funding.

Charity Free Reserves

Currently, the total Charity Free reserves held are £167,473 (2024: £135,283), excluding fixed assets and designated funds. These are to be used to support future projects and NIE activities, vital at a time of uncertainty. There are no restricted reserves for the financial year ending 2025.

The board have approved a minimum unrestricted reserves equivalent to a minimum of three months core operating costs at £60,000.

Page 6

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Designated Reserves

The Board of Trustees takes the decision to designate a proportion of funds for the specific purpose of investing in the future development of the organisation in line with current strategy. For the year ending 2025 there will be the following designated funds:

Designated funds will be reviewed annually and future funds created as appropriate.

PLANS FOR THE FUTURE

Our focus is to continue creating high-quality projects with and for young people and, through talent development, support training and development in the sector. We will deliver local projects working with children where there is the most need. Alongside this, we are continuing to rebuild the national and international elements of our programme.

We will further exploit existing family work and find new partners for an expanded touring circuit, mindful of the current challenges for touring. Our NPO Funding, now through until at least 2027, puts us in a strong position to build new partnerships and refresh existing connections post-pandemic. These plans must balance risk and opportunity in a difficult financial climate.

Our core plan for the year ahead is to:

STRUCTURE, GOVERNANCE AND MANAGEMENT

New International Encounter (NIE) is a company limited by guarantee and incorporated on the 30th March 2004. It is governed by its Memorandum and Articles of Association, amended by a special resolution on the 30th January 2009.

NIE is a charity registered with the Charity Commission since 17 April 2009.

Decision making

The board of Trustees, which currently has 9 members, administers the Charity. In addition the Board Bursary holder is appointed as an observer to the board. The Chief Executive/ Artistic Director and Executive Director have delegated authority for operational matters including finance, employment and general management. The Chief Executive/ Artistic Director proposes the company’s creative direction which is reflected in the overall strategy for the organisation.

Page 7

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Alongside the board meetings, we have champions for the specific areas of Environmental and Fairness, Diversity and Inclusion and our sub-committees are:

Task and finish groups are created as needed.

Delivery and operational decisions for individual projects are managed by the staff team, whilst strategic decisions on annual and longer-term planning, capital and fundraising strategy are decided at board level.

Pay and remuneration

Pay levels are reviewed, by our Human Resources sub-committee, alongside any benefits packages. NIE is keen to recruit, develop and retain a skilled staff team, making new posts as accessible as possible. NIE offers an attractive work package which includes pension, flexible working, CPD opportunities and sabbatical time. Salary bands are benchmarked against industry levels. Appraisals to review performance take place once a year.

Selection and appointment of Trustees

NIE regularly undertake a skills audit with the board, identifying any skills gaps. New Trustees are appointed after a thorough and open recruitment process - during 2024/25 we appointed 4 trustees including a new chair.

New Trustees are fully briefed on their obligations under charity and company law through induction training with the organisation. This includes briefing on the structure, finance, operational and strategic activities of the company. As of 31 March 2025, NIE had 9 trustees and a Board Bursary member.

Professional training

New International Encounter offers additional professional training opportunities for its Trustees. In the past, this has included fundraising training through Achates Philanthropy and environmental training via Julies Bicycle, as well as access to trustee governance resources.

Staff professional development

Training needs are identified through NIE’s annual appraisals and can include formal training courses, mentorship or attendance at festivals and conferences.

Personnel

NIE has a permanent staff team of 4.0 FTE to support artistic, producing and financial delivery. A creative team of freelancers are recruited for individual projects, with contracts based on the Independent Theatre Council’s conditions of employment.

Norway and Czech Republic

New International Encounter co-operates with NIE Norway and NIE Czech Republic (registered Charity Stiftelsen NIE Teater in Brønnøysund Register Centre (BRC) in Norway no. 991979727, and registered company Divadlo NIE z.s. no 17685834 in Czech Republic. We share a website and meet regularly to discuss longer term planning on artistic shows. No funds are sent to the Norway or Czech Republic companies. All delivery of activities as detailed in the annual account is undertaken through New International Encounter.

Page 8

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ Claire Hardy Trustee Date:

Page 9

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

The Trustees (who are also the directors of the Charity 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, 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 Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on its behalf by:

................................................ Claire Hardy Trustee Date:

Page 10

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent examiner's report to the Trustees of New International Encounter ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.

Responsibilities and basis of report

As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

Other than the matter described below, there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Emphasis of matter

I draw attention to note 15 of the financial statements, which describes a contingent liability relating to the VAT treatment on co-productions. As described in the note, the trustees estimate any further liability to be immaterial and these accounts contain no provision for any further cost, however there is uncertainty as to the outcome. My opinion is not modified in respect of this matter.

Page 11

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 3 December 2025 Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants Ipswich

Page 12

NEW INTERNATIONAL ENCOUNTER

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2025
£
5,000
-
-
5,000
26,563
26,563
(21,563)
21,563
(21,563)
-		 Unrestricted
funds
2025
£
173,380
235,953
1,139
410,472
365,503
365,503
44,969
139,485
44,969
184,454		 Total
funds
2025
£
178,380
235,953
1,139
415,472
392,066
392,066
23,406
161,048
23,406
184,454		 Total
funds
2024
£
227,306
169,946
914
398,166
359,196
359,196
38,970
122,078
38,970
161,048

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 30 form part of these financial statements.

Page 13

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee) REGISTERED NUMBER: 05088552

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
12
Net current assets
Total net assets
Charity funds
Restricted funds
13
Unrestricted funds
13
Total funds		 131,813
57,768
189,581
(8,307)		 2025
£
3,180
181,274
184,454
-
184,454
184,454		 122,165
44,780
166,945
(10,099)		 2024
£
4,202
156,846
161,048
21,563
139,485
161,048

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

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

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ Claire Hardy Trustee Date:

The notes on pages 15 to 30 form part of these financial statements.

Page 14

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

1. General information

New International Encounter is a private company limited by guarantee and incorporated in England and Wales, registration number 05088552. The registered office is Cambridge Junction, Clifton Way, Cambridge, CB1 7GX.

The members of the company are the Trustees named on page 1. In the event of New International Encounter being wound up, the liability in respect of the guarantee is limited to £1 per member of New International Encounter.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

New International Encounter 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.

There were no significant estimates or judgements made by management in preparing these financial statements.

2.2 Going concern

Arts Council England have confirmed a further three years of investment at £156,144 per annum from April 2024 to March 2027. This has subsequently been extended to 2028, subject to application. The Trustees have reviewed the financial position of the charity and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.

Page 15

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably.

Income on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Grants are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

The grant receivable from The Arts Council England is unrestricted and has been recognised in the accounts on an annual basis. Although a grant had been awarded for multiple periods, the full grant is not recognised in the accounts on commencement because it is implicit in the grant award agreement that time-related conditions apply and therefore the funding should be received and costs incurred on an annual basis.

Income received for charitable activities (performance fees, box office fees and workshop fees) is recognised in the period to which it relates. Income received in advance is carried forward as deferred income on the balance sheet. Any amounts owing to the charity for performances which have occurred during the accounting period are included as debtors.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

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

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Page 16

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

2. Accounting policies (continued)

2.4 Expenditure (continued)

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

2.8 Debtors

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

2.9 Cash at bank and in hand

Cash at bank and 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.

Page 17

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

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.

2.12 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 18

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

3. Income from donations and legacies

Donations
The Big Give Trust
Friends Scheme
Donations under £5,000 (including bucket collections)
Gift aid
Grants
Arts Council England - National Portfolio Organisation
Cambridge City Council - Community grant
The Great Britain Sasakawa Foundation - The Town
Musicians of Bremen
Grants
Donations
In-kind donations
Friends Scheme
Donations under £5,000 (including bucket collections)
Gift aid
Grants
Arts Council England - National Portfolio Organisation
Talking Together in Cambridgeshire - Tales
Arts Council - Legends of the Fen
Cambridge City Council - Legends of the Fen Festival
Bridge - Moving IT
The Great Britain Sasakawa Foundation - The Town
Musicians of Bremen		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
-
10,022
-
946
-
2,022
-
1,746
-
156,144
(5,000)
-
-
2,500
10,000
-
5,000
173,380
Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
10,120
-
994
1,200
3,729
-
1,446
-
156,144
1,400
-
46,000
-
4,500
-
1,773
-
54,873
172,433		 Total
funds
2025
£
10,022
946
2,022
1,746
156,144
(5,000)
2,500
10,000
178,380
Total
funds
2024
£
10,120
994
4,929
1,446
156,144
1,400
46,000
4,500
1,773
227,306

Page 19

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

4. Income from charitable activities

Performance and commissioning fees
Workshop fees
Co-Production income
Other income
Theatre Tax Relief
Performance and commissioning fees
Workshop fees
Co-Production income
Theatre Tax Relief		 Unrestricted
funds
2025
£
41,220
14,525
82,364
7,651
90,193
235,953
Restricted
funds
2024
Unrestricted
funds
2024
£
£
8,749
10,153
-
3,134
-
53,235
-
94,675
8,749
161,197		 Total
funds
2025
£
41,220
14,525
82,364
7,651
90,193
235,953
Total
funds
2024
£
18,902
3,134
53,235
94,675
169,946

5. Investment income

Unrestricted
funds
2025
£
Bank interest
1,139
Deposit account interest
-
1,139		 Total
funds
2025
£
1,139
-
1,139		 Total
funds
2024
£
837
77
914

Page 20

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

6. Analysis of expenditure by activities

Promotion of the arts
Promotion of the arts
Analysis of direct costs
Production costs
Artists' fees
Marketing
Travel, subsistence and accommodation
Workshop costs
Temporary staff
Transport and freight
Project costs		 Activities
undertaken
directly
2025
£
175,810
Activities
undertaken
directly
2024
£
168,648		 Support
costs
2025
£
216,256
Support
costs
2024
£
190,548
Total
funds
2025
£
46,208
84,754
898
40,680
-
-
3,270
-
175,810		 Total
funds
2025
£
392,066
Total
funds
2024
£
359,196
Total
funds
2024
£
36,967
76,800
4,354
34,879
86
8,060
705
6,797
168,648

Page 21

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Office rent and storage
Travel and subsistence
Insurance
Telephone and internet
Subscriptions and sundry expenses
Office costs
Training and advocacy
Pension admin charges
Board costs
Difference on foreign exchange
Legal, professional and consultancy fees (governance)
Accountancy fees (governance)
Independent Examiner's fees - examination (governance)
Independent Examiner's fees - taxation (governance)		 Total
funds
2025
£
186,224
1,730
5,580
583
2,635
1,960
1,536
1,240
2,659
840
732
1,058
1,305
3,274
3,450
1,450
216,256		 Total
funds
2024
£
157,847
3,764
5,400
610
2,416
1,158
2,930
505
822
432
1,038
(67)
158
8,085
1,950
3,500
190,548
7. Independent examiner's remuneration
2025 2024
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 3,450 1,950
Fees payable to the Charity's independent examiner in respect of:
All taxation advisory services not included above 1,450 3,500

Page 22

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
169,034
12,331
4,859
186,224		 2024
£
144,419
9,657
3,771
157,847

The average number of persons employed by the Charity during the year was as follows:

2025 2024
No. No.
Charitable activities 5 4

No employee received remuneration amounting to more than £60,000 in either year.

The charity considers its key management personnel to be the Trustees, the Chief Executive, Mr A Byrne and the Executive Director, Ms L Elmer.

During the year, the key management personnel received total remuneration including employer's national insurance contributions and pension contributions of £106,285 (2024: £90,534 including a vacancy period) .

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, expenses totalling £ 141 were reimbursed or paid directly to 2 Trustees (2024 - £427 to 2 Trustees) in respect to travel expenses incurred on the charity's behalf.

Page 23

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

10. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Fixtures and
fittings
£
24,253
-
24,253
23,072
391
23,463
790
1,181		 Computer
equipment
£
5,633
707
6,340
2,612
1,338
3,950
2,390
3,021		 Total
£
29,886
707
30,593
25,684
1,729
27,413
3,180
4,202

Page 24

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

11. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Theatre Tax Relief		 2025
£
17,708
965
22,947
90,193
131,813		 2024
£
1,800
1,870
31,469
87,026
122,165

12. Creditors: Amounts falling due within one year

Trade creditors
Pension fund loan payable
Accruals and deferred income		 2025
£
2,508
1,399
4,400
8,307		 2024
£
1,649
1,355
7,095
10,099

Page 25

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

13. Statement of funds

Statement of funds - current year

Balance at 1
April 2024
£
Unrestricted funds
Designated funds
Talent development
-
Show development
-
Project grants match funding
-
-
General funds
General Funds
139,485
Total Unrestricted funds
139,485
Restricted funds
Creative learning
1,159
Legends of the Fen
20,404
Tales
-
21,563
Total of funds
161,048		 Income
£
Expenditure
£
-
-
-
-
-
-
-
-
410,472
(365,503)
410,472
(365,503)
-
(1,159)
-
(20,404)
5,000
(5,000)
5,000
(26,563)
415,472
(392,066)		 Transfers
in/out
£
1,000
3,000
8,000
12,000
(12,000)
-
-
-
-
-
-		 Balance at
31 March
2025
£
1,000
3,000
8,000
12,000
172,454
184,454
-
-
-
-
184,454

Page 26

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

13. Statement of funds (continued)

Restricted Funds

Tales - This restricted grant is from the local authority to support a co-creation activity within a Cambridge School.

Creative learning - This restricted fund is to support the creative learning 'Magic of Story Telling' project.

Legends of the Fen - This is a creative learning co-creation and performance project focusing on the Fenland area of Cambridgeshire, working with schools, community groups, cultural partners and our cast of professional actors and musicians.

Designated Funds

The Trustees have designated £12,000 from the charity's free unrestricted reserves to the following designated funds.

Talent development - this is to support the current Board Bursary position in 2025/26.

Show development - this is to support research and development of a new show in 2025/26 with The Egg, Theatre Royal Bath.

Project grants match funding - this is match funding for an application to National Lottery Project Grants to further extend the charity's work in Fenland.

Page 27

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Covid-19 Response for live
work presented to an audience
Talent and development
Education
General funds
General Funds
Total Unrestricted funds
Restricted funds
Board Bursary
Musicians of Bremen Japan
Creative learning
Legends of the Fen
Total of funds		 Balance at
1 April 2023
£
10,000
15,000
15,000
40,000
82,078
122,078
-
-
-
-
-
122,078		 Income
£
-
-
-
-
334,544
334,544
1,200
9,022
1,400
52,000
63,622
398,166		 Expenditure
£
-
-
-
-
(316,837)
(316,837)
(1,500)
(9,022)
(241)
(31,596)
(42,359)
(359,196)		 Transfers
in/out
£
(10,000)
(15,000)
(15,000)
(40,000)
39,700
(300)
300
-
-
-
300
-		 Balance at
31 March
2024
£
-
-
-
-
139,485
139,485
-
-
1,159
20,404
21,563
161,048

Page 28

(A company limited by guarantee)

NEW INTERNATIONAL ENCOUNTER

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

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
3,180
Current assets
189,581
Creditors due within one year
(8,307)
Total
184,454		 Total
funds
2025
£
3,180
189,581
(8,307)
184,454

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
£
-
21,563
-
21,563		 Unrestricted
funds
2024
£
4,202
145,382
(10,099)
139,485		 Total
funds
2024
£
4,202
166,945
(10,099)
161,048

15. Contingent liabilities

The Charity has reviewed the VAT treatment of co-productions and has identified a possible liability to output VAT. The opinion of the Trustees is that any liability is likely to be immaterial. However, review and discussions with partners are ongoing and there is uncertainty as to the outcome. Any further potential liability cannot be estimated reliably. Therefore, these accounts contain no provision for any additional cost.

16. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,859 (2024: £3,771). Contributions totalling £1,399 (2024: £1,355) were payable to the fund at the balance sheet date and are included in creditors.

Page 29

NEW INTERNATIONAL ENCOUNTER (A company limited by guarantee)

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

17. Related party transactions

Unrestricted donations include £660 from two Trustees (2024: one trustee £3,600). All donations were given free of any external conditions. There were no other related party transactions during the current or previous years.

Page 30