Trustees Annual Report and Unaudited Financial Statements Year ended 31 March 2021
Charity registation - 1143406 Company number - 05079495
Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
Contents
| Contents | |
|---|---|
| Reference and administrative details | 4 |
| Trustees annual report | 5 |
| Objectives and activities | 5 |
| Achievements and performance in the year | 5 |
| Structure, governance and management | 7 |
| Financial results | 9 |
| Statement of board of trustees’ responsibilities | 9 |
| Independent examiner’s report | 11 |
| Statement of fnancial activities | 13 |
| Balance sheet | 14 |
| Notes to the fnancial statements | 15 |
Charity number 1143406 Company number 05079495
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Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
Reference and administrative details
Charity number
1143406
Company number
05079495
Registered offce
33 Raynham Street Hertford SG13 7DE
Trustees
Rebecca Allen Catherine Boyd Mouhammed Choukeir Rae Leaver Catherine Stephen Sophie Watson Michael Webb
Chair (resigned 8 February 2021) (appointed 26 November 2020)
Company secretary
Alyson Jones
Independent examiners
Andy Nash Accounting & Consultancy Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU
Principal Bankers
Lloyds Bank Plc 1 Silver Street Enfield EN1 3EE
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Trustees annual report
The Board of Trustees, who are also directors of the Charity for the purposes of the Companies Act, and trustees for charity law purposes, submit their annual report and the financial statements of Tangled Feet Limited for the year ended 31 March 2021. The Board of Trustees confirms that the annual report and financial statements of the Charity comply with current statutory requirements, including the Charity Act 2011, as well as the requirements of the Charity’s governing document and the provisions of 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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006.
Objectives and activities
Tangled Feet (TF) aims to increase access to, and participation in high-quality, industry-leading theatre. We endeavour to make unique opportunities for young people to engage with our work and aim to share our work with people that rarely, if ever, visit the theatre. Tangled Feet is proud to be an artist-led ensemble, with the founders of the company still involved in all aspects of the artistic activity.
The principal activities of the charity in the year under review were delivering an artistic programme of theatre productions and a participation programme for disadvantaged young people to engage with theatre. These activities included non-ticketed, free-to-access performances, educational workshops, training sessions, mentoring programmes for young and emerging artists, and paid work placements and internships.
The Trustees confirm that they have complied with the duty in section 4 of the Charities act 2006 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.
Achievements and performance in the year
2020-21 was Tangled Feet’s third year as an Arts Council National Portfolio Organisation. Like all those working within the creative industries, Tangled Feet’s activity was affected by the effects of the Coronavirus pandemic. Our Co-Artistic Directors’ month-long residency at the University of the Arts Reykjavik was suspended after just one week. Following Nathan and Kat’s return to the UK the company responded quickly to set up remote working. We immediately identified an urgent need to support our ensemble of artists – all freelancers who faced uncertain futures owing to the closures enforced on the profession.
As the first lockdown began TF quickly developed a project called Devolution Evolution that responded to the urgent needs - and power - of our broad family of freelance artists. We commissioned over 30 artists from our network and asked them to step on board for an experiment. Responding to the theme of ‘Catalyst: the moment of change’, the art works those artists created included sound installations, short films, video art, podcasts, recipes, performance, open rehearsals and a unique immersive projection space. We were delighted to bring performances to audiences in Luton in July 2021 and will continue to work with the artists involved to continue developing projects throughout 2021 and beyond. Some feedback from the artists involved:
“It was a welcome validation in a time when all artists are questioning their work, and how to fit into the restrictions of current society. On a personal level, it also brought me immense joy, and the sharings along with their sense of collective ambition were incredibly uplifting”
“(it gave me) space and time to think about my creative practice and where I am now, where I might be heading. It made me question my artistry, the industry, the work I’m making and why. It was really amazing and I feel my whole practice shift because of it.”
In the early stages of the pandemic, we offered support to our freelance family by helping people prepare applications to the individual artist support funds that were launched in response to Covid, including Arts Council England’s Covid Response funding. We were delighted with the overall success rate achieved.
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In summer 2020 we continued creative research and development on Rave New World, our large scale outdoor production inspired by rave culture and commissioned by Without Walls to be presented in summer 2021. During the R&D we extensively prepared a narrative structure, script and design/technical solutions. In Autumn 2020 as festivals began to programme their 2021 seasons it became clear that coronavirus was changing the outdoor theatre market. Producers were not taking risks on large scale work in terms of expense and risk of cancellation. The framework is shifting towards smaller works, with less performers, more installation/visual art which all allow work to be moved, cancelled or postponed more easily. In discussion with Without Walls we postponed the presentation of Rave New World in 2021 until a point where the show could work within the new parameters or the parameters changed. The NPO resource we had earmarked for the work was redistributed to new creative projects and the support of the freelance community. There is much food for thought on how coronavirus is changing programming models and attitudes to risk.
Continuing our response to the pandemic, Tangled Feet began research and development on a project with playwright Steve Waters. The catalyst for Murmurations’ was a shift in all social activity in the UK moving outdoors. Many people started to see their local environments in new ways, noticed nature in the urban cracks for the first time, and the incredible vistas and wildlife (sometimes more visible and closer than ever) in the countryside. Murmurations is a site-specific piece of theatre that will take place at Wicken Fen in Cambridgeshire run by the National Trust and Strumpshaw Fen in Norfolk run by the RPSB that will explore the relationship between nature and the climate emergency and will reach audiences in September 2021.
Tangled Feet, alongside Upswing Aerial, began a new collaborative working group of Artist Led independent companies to support and advocate for the needs of such groups in lockdown. Artist-led NPOs represent a significant number of core funded organisations that play a key role in the arts ecology. We (alongside our freelance art-maker colleagues and the many non-NPO artist-led organisations) are the content makers – creating work, which fills the venues, arts centres and outdoor spaces across the country. Public dialogue during the lockdowns focused on the needs and immediate risks to venues, however; many artist led organisations (without buildings) will be left in long term vulnerability long after venues return to capacity. The collaborative group now has over 40 group members and we commissioned independent researcher to evidence our impact on the sector.
Tangled Feet joined a strategic group of Luton based arts and cultural organisations to support each other during the pandemic. The group met fortnightly to support each other and prioritise resources to support local creatives and communities.
Our Participation Programme adapted successfully to the constraints of lockdown-working. Whilst tours of productions were cancelled, we are proud that our participation programme was able to continue by offering many of our projects online, including our successful Mindfulness Project. We recorded ten Mindfulness sessions which were free to watch on TF’s YouTube channel. These were shared with our school partners and other arts organisations to distribute through their networks. Luton Cultural Education Partnerships (LCEP) distributed links to all sessions and supporting resources to local Luton schools. Many schools sent out the videos and resources in their weekly home learning packages and also used in school with vulnerable children and the children of key workers. TF was asked by Half Moon Children’s Theatre to lead a CPD session on the programme and benefits of Mindfulness with teachers from schools in Tower Hamlets. To accompany the training, a resource pack for teachers on introducing the project and creative practices into the classroom was created.
TF recently completed a tour of Butterflies (https://tangledfeet.com/productions/31-butterfies), visiting eight schools and the Half Moon theatre. Over 1,000 children watched a performance of Butterflies. Our Participation Director was embedded in the creation process and also led follow-up mindfulness workshops
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in schools. We created a resource pack which has been shared with all the schools that experienced the production. This can be used as a legacy document within the schools for staff to use with classes to open up discussion on wellbeing and introduce mindfulness practice into the classroom.
“This was a lovely performance. Very relevant to the children and provided them with good strategies to support their worries and fears. The children were very engaged and enjoyed the interaction with the cast. Thank you!” Classroom teacher, Ramsay Manor Lower School
“After a very difficult year of lockdowns and restrictions, it was wonderful for the children to have the opportunity to experience a live performance. For many it was their first experience of theatre and they were captivated. The children really identified with the concept of being lost or alone and shared many personal stories of being lost.” Classroom teacher, Highgate Primary School
We completed two periods of R&D for a new production: But When? working with local Luton teenagers. In Autumn 2020 we led consultations with mental health organisations Sorted, Chums CAMHS, and youth organisation NGYT (all in Luton and central Bedfordshire). We liaised and consulted with secondary school partners on this project.
The landscape for artists is stark, particularly for young and emerging ones. Those wishing to take the first steps in a professional career face an exceptionally difficult task as the sector is in state of paralysis. There is a real lack of funding for new work and partnerships will be harder to build as venues are becoming more risk averse. Despite the pandemic, TF’s NPO funding from Arts Council England continued as planned, and we were delighted to secure additional multi-year
grants from The Esmee Fairbairn Foundation and The Steel Charitable Trust. Our work is dependent on the goodwill and generosity of our supporters to continue, and we are grateful to all those who make their contributions to our work.
Structure, governance and management
Tangled Feet Limited is a company limited by guarantee, number 05079495, and a registered charity in England and Wales, number 1143406.
The organisation’s Governing Document is its Articles of Association, incorporated 22 March 2004, and additional articles adopted by special resolution on 2 February 2011.
Day-to-day management of Tangled Feet Limited is delegated by the Trustees to a Senior Management Team of part-time staff:
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Co-Artistic Directors, Nathan Curry and Kat Joyce
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General Manager, Alyson Jones
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Participation Director, Emily Eversden
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Director of Fundraising, Jonathan Ellicott
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• Finance Director, Mario Christofides
This team report to the Board of Trustees at quarterly meetings.
A project-based group of staff including workshop leaders and associate artists deliver activities for Tangled Feet Limited throughout the year.
Tangled Feet Limited has no employees on permanent contracts.
Selection and appointment of Trustees
The Trustees may appoint new members by general agreement, in particular where specialist skills are required. The Board wishes to thank Mouhammed Choukeir for his expert input into Tangled Feet’s affairs during his six-and-a-half year tenure as a Trustee.
New members are fully briefed on their obligations under charity and company law, and are given information on the decision-making processes, the financial performance of the charity and the business plan. The Board is delighted to report Sandro Forte will become a Trustee in the next financial year.
Risk management
At the time of preparing this report the Coronavirus pandemic continues to have significant impact across the world. Arts and cultural organisations and their activities came to a virtual standstill in Spring 2020 as UK society was ordered into lockdown. Those in the profession, including in Tangled Feet, have had to evolve and adapt to continue to deliver creative projects.
Tangled Feet’s Trustees have carefully considered the company’s situation in response to the pandemic. With corefunding from Arts Council England (ACE) still in place, the charity is in a robust financial position. ACE has announced an additional year of core funding, meaning Tangled Feet’s National Portfolio will be extended until April 2023 (subject to application). With core funding in place, no debts, and no staff on permanent contracts, Tangled Feet continues as a going concern.
Looking forward, it is highly likely that commissioning fees in future years will be significantly impacted because of Coronavirus, and therefore the company will have to be creative, flexible and responsive to ensure we continue to achieve our aims and objectives. We’ll continue to work in partnership with others to seek out new opportunities to
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engage with those who have been impacted by the pandemic.
The Trustees have considered the major risks to which the charity is exposed and established procedures to manage those risks. The Trustees consider the variability of income to be a significant risk in the short to medium term. Long term risks include the loss of the Senior Management Team and key creative members of the wider ensemble.
Financial results
During the current financial year the Charity achieved a surplus of £91,324 (2020: surplus of £27,161), increasing total reserves at year end to £194,772 (2020: £103,448).
The Trustees are satisfied with the financial performance of the charity throughout the year. No Tangled Feet project is ever delivered without the budget being secured, and the charity has never taken on any debt. Fundraising activity aims to support the core costs of the charity – the salaries of the Senior Management Team and towards project costs. As per previous years, governance costs remain commendably low.
Reserves policy
Tangled Feet’s reserve policy aim is to target a sum of funds as ‘designated reserves’ that is separate to any allocated expenditure commitments. These funds would support the Charity in case of unexpected changes in funding and to meet any unplanned expenditure. The target level of designated reserve is calculated at £37,000. This target is equivalent to 3 months ‘core costs’, estimated to be at £27,000 plus £10,000 available for any discretionary expenditure.
The Charity aims to achieve this reserve level by the end of March 2022 and has initiated a plan to allocate £6,000 per year, plus frequent additional funds made from fees and commissions in order to meet this target. The Trustees review the reserves policy every year to make relevant adjustments.
At year-end Tangled Feet had unrestricted reserves of £149,280 (2020 - £101,886) assigned as follows:
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£32,371 (2020: £25,486) designated to general reserves (meeting our reserves target).
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£117,909 (2020: £76,400) designated to creative projects expenditure in 2022 and 2023.
Statement of board of trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law they are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material
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departures disclosed and explained in the financial statements; and,
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prepare the financial statements on the going concern basis unless it is inappropriate to presume
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that the charitable company will continue its activities.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open
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Annual report and financial statements
to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In addition, the trustees confirm that they are happy that content of the annual review in pages 5 to 10 of this document meet the requirements of both the Trustees’ Annual Report under charity law and the Directors’ Report under company law.
They also confirm that the financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
Preparation of the report
This report has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006, and the exemptions available for smaller charities under the Statement of Recommended Practice.
This report was approved and authorised for issue by the Board of Trustees on 23 November 2021 and signed on its behalf by:
R V Allen
REBECCA ALLEN
CHAIR
The 2020-21 financial year was an unprecedented one, which saw significant damage wreaked on the UK theatre industry and to the livelihoods of our freelance workforce. As seismic shifts took place around us socially and politically, it was also an opportunity for fresh analysis and deep-thinking about our place and purpose as artists and as an organisation.
We felt very lucky that our core funding enabled us a place of security from which to operate during this tumultuous time, and we were able to provide significant support to our freelance family. Guided by our values, our flexibility and fleet-of-foot nature as an organisation stood us in good stead. Our low overheads and the fact that we rely so little on box-office income means we suffered no financial losses. The challenge to us was one of needing to quickly reallocate resources in response to need and opportunity in a fast-moving pandemic situation. Devolution Evolution, which began as a seed of an idea and a way to empower our cohort of freelancers, developed into a really significant ongoing tranche of activity which has seen a fundamental shift in the diversity of artistic leadership and how our ensemble is creatively powered.
The ‘fallow year’ of COVID will cast its shadow across the industry for several years to come. The theatre industry remains in a process of resetting. Productions have been delayed and reimagined, work in schools halted and restarted; commissioning, programming and project delivery timescales are out of sync, suffering from backlogs and log-jams. The new and changing risk profiles for performance are reshaping the landscape and this will take a few years to work itself out.
Coming out of the pandemic year, with financial resources available and able to react swiftly to the new contexts for performance, we have remained incredibly busy, limited only by the upper capacity of the core team. The scale and scope of our participation and Dramatherapy work has increased, and with it the demands of managing this work safely and effectively. With the resources we had been holding for a large-scale outdoor now reapportioned across several creative projects in 21/22 and 22/23, and a brilliant array of creative ideas continuing to bubble away as a result Devolution Evolution, we continue to be able to make good use of opportunities and to evolve at pace.
Nathan Curry & Kat Joyce, Co-Artistic Directors, Tangled Feet Limited
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Independent examiner’s report
I report to the Trustees on my examination of the accounts of Tangled Feet Limited (charity number 1143406, company number 05079495) for the year ended 31 March 2021 which are set out on pages 13 to 31.
Respective responsibilities of trustees and examiner
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’) nor under Part 16 of the 2006 Act, and that an independent examination is needed.
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general directions given by the Charity Commission under
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section 145(5)(b) of the Charities Act; and,
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to state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the Charity’s Trustees as a body. 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 examination work, for this report, or for the statements I have made.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
Since the Company’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 & Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006
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Act; or,
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the accounts do not accord with those records; or,
• 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,
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the accounts have not been prepared in accordance with the methods and principles of the
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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).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
ANDREW PHILIP NASH ACA
MEMBER OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES – 2461833
DATED: 15 DECEMBER 2021
Andy Nash Accounting & Consultancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU
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Statement of financial activities
Incorporating the Income and Expenditure Account & Statement of Realised Gains and Losses
For the year ended 31 March 2021
| Notes Income from: Donations and legacies 3 Charitable activities 4 Other income Total income Expenditure on: Raising funds 5 & 6 Charitable activities Participation Dramatherapy 5 & 7 Other participation activities 5 & 7 Participation 5 & 7 Productions Making & touring new work 5 & 8 Retouring existing work 5 & 8 Research & development 5 & 8 Productions 5 & 8 Total charitable activities Total expenditure Net income/(expenditure) Reconciliation of funds: Total funds brought forward 13 & 14 Total funds carried forward 13 & 14 |
Unrestricted Restricted Total Total funds funds funds funds Year ended Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2020 £ £ £ £ 204,453 72,644 277,097 215,077 74,817 3,810 78,627 121,145 - - - 15,787 |
|---|---|
| 279,270 76,454 355,724 352,009 |
|
| 9,296 - 9,296 9,010 84,990 4,225 89,215 65,523 40,941 22,309 63,250 49,696 |
|
| 125,931 26,534 152,465 115,219 19,027 1,667 20,694 112,524 18,687 1,937 20,624 60,452 58,935 2,386 61,321 27,643 |
|
| 96,649 5,990 102,639 200,619 |
|
| 222,580 32,524 255,104 315,838 |
|
| 231,876 32,524 264,400 324,848 |
|
| 47,394 43,930 91,324 27,161 101,886 1,562 103,448 76,287 |
|
| 149,280 45,492 194,772 103,448 |
The notes on pages 15 to 31 form part of the financial statements.
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Balance sheet
As at 31 March 2021
| Notes Fixed assets: Tangible assets 10 Current assets: Debtors & prepayments 11 Cash at bank and in hand Creditors Amounts falling due within one year 12 Net current assets/ (liabilities) Net assets/(liabilities) The funds of the charity: Restricted funds 13 & 14 Unrestricted funds General funds 13 & 14 Designated funds 13 & 14 Unrestricted funds Total charity funds |
£ 14,360 184,633 |
Total funds 31 Mar 2021 £ 854 193,918 |
£ 14,777 92,417 |
Total funds 31 Mar 2020 £ 1,139 102,309 |
|---|---|---|---|---|
| 198,993 (5,075) |
107,194 (4,885) |
|||
| 32,271 117,009 |
25,486 76,400 |
|||
| 194,772 | 103,448 | |||
| 45,492 149,280 |
1,562 101,886 |
|||
| 194,772 | 103,448 |
The notes on pages 15 to 31 form part of the financial statements.
The financial statements have been prepared in accordance with section 415A of the Companies Act 2006 relating to small companies and FRS 102 Section 1A.
The charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the year ended 31 March 2021, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 under section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
They were approved and authorised for issue by the Board of Trustees on 23 November 2021 and signed on their behalf by:
R V Allen
REBECCA ALLEN CHAIR
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Notes to the financial statements
1. Accounting policies
Basis of preparation of the financial statements
The financial statements have been prepared in accordance with ‘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) second edition (effective 1 January 2019)’, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), including Update Bulletin 1, and the Companies Act 2006.
The effect of any event relating to the year ended 31 March 2021, which occurred before the date of approval of the financial statements by the Board of Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 March 2021 and the results for the year ended on that date.
The functional currency of the Charity is GBP and amounts in the financial statements are rounded to the nearest pound.
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The financial statements have been prepared on the going concern basis as the Board of Trustees is confident that future reserves and future income is more than sufficient to meet current commitments. There are no material uncertainties that impact this assessment, and the ongoing global COVID-19 pandemic has had no material impact on this assessment.
Legal status
Tangled Feet Limited is a charitable company registered in England & Wales and meets the definition of a public benefit entity. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member. The registered address is 33 Raynham Street, Hertford, SG13 7DE.
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 of 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 note 13 of the financial statements.
Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or that have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 13 of the financial statements.
Income
Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
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1. Accounting policies (continued from previous page)
Income (continued from previous page)
Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable.
Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future period, in which case it is deferred.
Income from charitable activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future period or event, in which case it is deferred.
Other income consists of amounts received from HMRC as part of the Theatre Tax Relief system.
Expenditure and irrecoverable VAT
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities.
Direct costs include all costs directly attributable to that activity including freelancers and production or participation costs, as well as the staff time directly attributable to that activity, namely the cost of the two co-artistic directors.
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area, as outlined in note 5 of the financial statements.
Irrecoverable VAT is charged against the category of expenditure for which it was incurred.
Tangible fixed assets and depreciation
All assets costing more than £1,000 are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their useful life, on the following basis:
Motor vehicles 25% reducing balance
Cash at bank and in hand
Cash at bank and in hand includes cash in hand, deposits with banks and funds that are readily convertible into cash at, or close to, their carrying values, but are not held for investment purposes.
Debtors and prepayments
Trade and other debtors are recognised at the settlement amount after any trade discount is applied. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and accruals
Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured or estimated reliably.
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- Accounting policies (continued from previous page)
Critical estimates and judgements
In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The treatment of tangible fixed assets is sensitive to changes in useful economic lives and residual values of assets. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.
Pensions
The Charity operates a defined contribution pension scheme which is administered by an external independent pension provider. Contributions are recognised in the Statement of Financial Activities as they fall due.
Financial instruments
Basic financial instruments are measured at amortised cost other than investments which are measured at fair value.
Charity number 1143406 Company number 05079495
17
Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
2. Comparative statement of fnancial activities
| Notes Income from: Donations and legacies 3 Charitable activities 4 Other income Total income Expenditure on: Raising funds 5 & 6 Charitable activities Participation Dramatherapy 5 & 7 Other participation activities 5 & 7 Participation 5 & 7 Productions Making & touring new work 5 & 8 Retouring existing work 5 & 8 Research & development 5 & 8 Productions 5 & 8 Total charitable activities Total expenditure Net income/(expenditure) Transfer between funds 13 Net movement in funds Reconciliation of funds: Total funds brought forward 13 & 14 Total funds carried forward 13 & 14 |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 202,087 12,990 215,077 121,145 - 121,145 15,787 - 15,787 |
|---|---|
| 339,019 12,990 352,009 |
|
| 8,397 613 9,010 54,515 11,008 65,523 46,540 3,156 49,696 |
|
| 101,055 14,164 115,219 104,567 7,957 112,524 60,452 - 60,452 27,379 264 27,643 |
|
| 192,398 8,221 200,619 |
|
| 293,453 22,385 315,838 |
|
| 301,850 22,998 324,848 |
|
| 37,169 (10,008) 27,161 (969) 969 - |
|
| 36,200 (9,039) 27,161 65,686 10,601 76,287 |
|
| 101,886 1,562 103,448 |
Charity number 1143406 Company number 05079495
18
Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
- Income from donations and legacies
| Grants Arts Council England - National Portfolio Organisation Arts Council England - Other BBC Children in Need Esmee Fairbairn Foundation The Hanley Trust Steel Charitable Trust Grants Donations Donations in kind (see note 15) Coronavirus Job Retention Scheme Grants Arts Council England - National Portfolio Organisation Arts Council England - Other BBC Children in Need Garfeld Weston Foundation The Hanley Trust The Odin Charitable Trust Grants Donations Donations in kind (see note 15) |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 196,495 - 196,495 - - - - 21,644 21,644 - 20,000 20,000 - 1,000 1,000 - 30,000 30,000 |
|---|---|
| 196,495 72,644 269,139 910 - 910 3,710 - 3,710 3,338 - 3,338 |
|
| 204,453 72,644 277,097 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 192,945 - 192,945 - 490 490 - 5,000 5,000 - 7,500 7,500 1,000 - 1,000 3,000 - 3,000 |
|
| 196,945 12,990 209,935 992 - 992 4,150 - 4,150 |
|
| 202,087 12,990 215,077 |
Charity number 1143406 Company number 05079495
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Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
4. Income from charitable activities
| Earned income and fees (incl. participation income) Earned income and fees (incl. participation income) |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 74,817 3,810 78,627 |
|---|---|
| 74,817 3,810 78,627 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 121,145 - 121,145 |
|
| 121,145 - 121,145 |
Charity number 1143406 Company number 05079495
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Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
- Total expenditure
| Raising funds Charitable activities Dramatherapy Other participation activities Participation Making and touring new work Retouring existing work Research and development Productions Raising funds Charitable activities Dramatherapy Other participation activities Participation Making and touring new work Retouring existing work Research and development Productions |
Direct Direct Indirect Total staff costs other costs costs costs Year ended Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ £ - 6,783 2,513 9,296 19,634 54,282 15,299 89,215 19,634 28,317 15,299 63,250 |
|---|---|
| 39,268 82,599 30,598 152,465 9,144 4,774 6,776 20,694 9,144 4,704 6,776 20,624 9,143 45,401 6,777 61,321 |
|
| 27,431 54,879 20,329 102,639 |
|
| 66,699 144,261 53,440 264,400 |
|
| Direct Direct Indirect Total staff costs other costs costs costs Year ended Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ £ - 7,438 1,572 9,010 13,446 44,385 7,692 65,523 13,445 28,559 7,692 49,696 |
|
| 26,891 72,944 15,384 115,219 8,964 93,474 10,086 112,524 8,964 41,402 10,086 60,452 8,963 8,594 10,086 27,643 |
|
| 26,891 143,470 30,258 200,619 |
|
| 53,782 223,852 47,214 324,848 |
Direct costs include all costs directly attributable to that activity including freelancers and production or participation costs, as well as the staff time directly attributable to that activity, namely the cost of the two co-artistic directors.
Indirect costs, including governance costs, which cannot be directly attributed to activities, are allocated proportionate to total direct costs allocated to each project area.
An analysis of expenditure on raising funds can be found in note 6.
An analysis of expenditure on charitable expenditure by participation and production can be found in notes 7 & 8 respectively.
An analysis of staff costs can be found in note 9.
Charity number 1143406 Company number 05079495
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Tangled Feet Limited
Year ended 31 March 2021
Annual report and financial statements
5. Total expenditure (continued from previous page)
Support costs consists of the following:
| Indirect staff costs Finance and administrative support Hire of offce and spaces for activities Administrative and general expenses Marketing and development Governance costs Bank charges |
Total Total costs costs Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ 9,528 11,006 16,344 15,073 6,638 8,194 5,518 3,810 11,728 4,506 3,596 4,526 88 99 |
|---|---|
| 53,440 47,214 |
Governance costs includes:
| Total | Total | |
|---|---|---|
| costs | costs | |
| Year ended | Year ended | |
| 31 Mar 2021 | 31 Mar 2020 | |
| £ | £ | |
| Insurance | 2,096 | 3,026 |
| Independent examination | 1,500 | 1,500 |
| 3,596 | 4,526 | |
| e independent examiners received remuneration for the following services in the year: | ||
| Total | Total | |
| costs | costs | |
| Year ended | Year ended | |
| 31 Mar 2021 | 31 Mar 2020 | |
| £ | £ | |
| Independent examination | 1,500 | 1,500 |
| Theatre tax relief support | 311 | 300 |
| 1,811 | 1,800 |
The independent examiners received remuneration for the following services in the year:
Charity number 1143406 Company number 05079495
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Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
- Expenditure on raising funds
| Direct other costs Indirect costs Direct other costs Indirect costs |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 6,783 - 6,783 2,513 - 2,513 |
|---|---|
| 9,296 - 9,296 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 6,825 613 7,438 1,572 - 1,572 |
|
| 8,397 613 9,010 |
Charity number 1143406 Company number 05079495
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Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
- 7. Expenditure on charitable activities participation
| Dramatherapy Direct staff costs Direct other costs Indirect costs Other participation activities Direct staff costs Direct other costs Indirect costs Dramatherapy Direct staff costs Direct other costs Indirect costs Other participation activities Direct staff costs Direct other costs Indirect costs |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 17,134 2,500 19,634 52,557 1,725 54,282 15,299 - 15,299 |
|---|---|
| 84,990 4,225 89,215 |
|
| 17,134 2,500 19,634 10,008 18,309 28,317 13,799 1,500 15,299 |
|
| 40,941 22,309 63,250 |
|
| 125,931 26,534 152,465 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 13,446 - 13,446 33,377 11,008 44,385 7,692 - 7,692 |
|
| 54,515 11,008 65,523 |
|
| 13,445 - 13,445 25,403 3,156 28,559 7,692 - 7,692 |
|
| 46,540 3,156 49,696 |
|
| 101,055 14,164 115,219 |
Charity number 1143406 Company number 05079495
24
Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
-
- Expenditure on charitable activities productions
| Making and touring new work Direct staff costs Direct other costs Indirect costs Retouring existing work Direct staff costs Direct other costs Indirect costs Research & development Direct staff costs Direct other costs Indirect costs Making & touring new work Direct staff costs Direct other costs Indirect costs Retouring existing work Direct staff costs Direct other costs Indirect costs Research & development Direct staff costs Direct other costs Indirect costs |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 7,477 1,667 9,144 4,774 - 4,774 6,776 - 6,776 |
|---|---|
| 19,027 1,667 20,694 |
|
| 7,477 1,667 9,144 4,434 270 4,704 6,776 - 6,776 |
|
| 18,687 1,937 20,624 |
|
| 7,477 1,666 9,143 44,681 720 45,401 6,777 - 6,777 |
|
| 58,935 2,386 61,321 |
|
| 96,649 5,990 102,639 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 8,964 - 8,964 85,517 7,957 93,474 10,086 - 10,086 |
|
| 104,567 7,957 112,524 |
|
| 8,964 - 8,964 41,402 - 41,402 10,086 - 10,086 |
|
| 60,452 - 60,452 |
|
| 8,963 - 8,963 8,344 250 8,594 10,072 14 10,086 |
|
| 27,379 264 27,643 |
|
| 192,398 8,221 200,619 |
Charity number 1143406 Company number 05079495
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Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
- Staff costs
| Gross salaries Employer’s NIC Employer’s pension |
Total Total costs costs Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ 72,881 61,620 1,815 1,883 1,531 1,285 |
|---|---|
| 76,227 64,788 |
The average headcount during the period was 4 persons (2020: 3 persons).
No employee received employee benefits of more than £60,000 (2020: NIL).
The total employee benefits paid to key management personnel during the year was £54,863 (2020: £53,782).
10. Tangible fxed assets
| Cost At 1 April 2020 At 31 March 2021 Accumulated depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 1 April 2020 At 31 March 2021 |
Motor vehicles Total £ £ 3,600 3,600 |
|---|---|
| 3,600 3,600 |
|
| 2,461 2,461 285 285 |
|
| 2,746 2,746 |
|
| 1,139 1,139 |
|
| 854 854 |
Charity number 1143406 Company number 05079495
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Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
- Debtors and prepayments
| Accrued theatre tax relief Accrued grant income Accrued Coronavirus Job Retention Scheme VAT control account Prepayments |
Total Total funds funds Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ - 12,872 10,750 203 1,194 - 698 - 1,718 1,702 |
|---|---|
| 14,360 14,777 |
12. Creditors: amounts falling due within one year
| Accruals VAT control account PAYE control account Pension control account |
Total Total funds funds Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ 1,500 2,160 - 1,241 3,225 1,234 350 250 |
|---|---|
| 5,075 4,885 |
Charity number 1143406 Company number 05079495
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Tangled Feet Limited Annual report and financial statements
Year ended 31 March 2021
13. Analysis of charity funds
| Unrestricted funds General fund Artistic development Restricted funds Grants for the Arts Without Walls Commission Grants for the Arts BBC Children in Need - Young Carers BBC Children in Need - Mindfulness & Wellbeing Esmee Fairbairn Foundation The Hanley Trust National Lottery - Awards for All Royal Opera House Steel Charitable Trust |
Balance Income Expenditure Transfers Balance brought for the in the between carried forward period period funds forward Year ended Year ended Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ £ £ 25,486 279,270 (231,876) (40,609) 32,271 76,400 - - 40,609 117,009 |
|---|---|
| 101,886 279,270 (231,876) - 149,280 |
|
| 475 - - - 475 |
|
| 475 - - - 475 - 13,000 (12,789) - 211 - 8,644 (3,614) - 5,030 - 20,000 (10,000) - 10,000 - 1,000 (1,000) - - 1,087 - (500) - 587 - 3,810 (3,231) - 579 - 30,000 (1,390) - 28,610 |
|
| 1,562 76,454 (32,524) - 45,492 |
|
| 103,448 355,724 (264,400) - 194,772 |
Artistic development
During the prior year the charity redesignated £117,909 to be carried forward for the artistic programme in order to realise projects unable to be produced in 20-21 due to the pandemic. These funds, which also contain commission fees, funds set aside for storage, capital purchases and participation, were imarily dispersed over 21-22 on the development of ‘Rave New World’ (outdoor show), ‘Butterflies’ (Schools Tour), the Teenage Anxiety inspired production ‘But When’ and the outdoor play ‘Murmurations’ with writer Steve Waters (premiered in September 2021).
Grants for the Arts – Without Walls Commission
This was a research and development funding award restricted to the initial creation phase of a large-scale outdoor production (initially titled Eyes on Stalks but later titled Rave New World).
BBC Children in Need
Funding for continuation of various participation projects and residential trips for young carers or young people who may be looked after.
Charity number 1143406 Company number 05079495
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Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
13. Analysis of charity funds (continued from previous page)
Esmee Fairbairn Foundation
This is a multi-year grant to support the salary of the Participation Director.
National Lottery – Awards for All
This was a one off grant towards Tangled Feet’s SIBS2019 programme. The main work body of work took place in April 2019.
Royal Opera House Bridge
A Learning Offer Development Fund from ROHB used to gain a greater understanding of how to create authentic and relatable theatrical experiences with and for teenagers. To develop a better understanding of the mental health issues that face this age group in the Luton area. The funds support TF in building relationships and gain insight from a range of youth organisations in the region, to use their wealth of knowledge and understanding to contribute to our working processes with teenagers. The fund helps Tangled Feet develop a set of strategic aims for work with this age group over the next 4 years. The fund also allows the Tangled Feet team to gain insight from a range of educational leaders, teachers and support staff in a variety of educational settings and to develop an online safeguarding strategy for working with this age group.
Steel Charitable Trust
Funding supporting three strands of activity, all based in Luton, over a 3 year period. The first strand is to create a new piece of theatre bringing artistic excellence to Luton and its audiences. The second is to tour a piece of work to Luton schools, alongside accompanying post show workshops and supporting resources. The third strand is to create career pathways in the Arts for early stage career artists based in Luton through mentorship, work placements and internship on Tangled Feet projects over the 3 years.
Charity number 1143406 Company number 05079495
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Tangled Feet Limited
Year ended 31 March 2021
Annual report and financial statements
13. Analysis of charity funds (continued from previous page)
| Unrestricted funds General fund Artistic development Restricted funds Grants for the Arts Without Walls Commission Grants for the Arts The Andrew Lloyd Webber Foundation BBC Children in Need Garfeld Weston Foundation National Lottery - Awards for All |
Balance Income Expenditure Transfers Balance brought for the in the between carried forward period period funds forward Year ended Year ended Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ £ £ 14,286 339,019 (301,850) (25,969) 25,486 51,400 - - 25,000 76,400 |
|---|---|
| 65,686 339,019 (301,850) (969) 101,886 |
|
| - 490 (15) - 475 |
|
| - 490 (15) - 475 1,516 - (1,819) 303 - - 5,000 (5,666) 666 - - 7,500 (7,500) - - 9,085 - (7,998) - 1,087 |
|
| 10,601 12,990 (22,998) 969 1,562 |
|
| 76,287 352,009 (324,848) - 103,448 |
The Andrew Lloyd Webber Foundation
These funds contribute to the continuation of the Charity’s mentoring and training scheme for young artists with specific funds intended for the creation of internships and placements for young people on projects.
Garfield Weston Foundation
This was a one off grant towards Tangled Feet’s production of Half Life.
Charity number 1143406 Company number 05079495
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Year ended 31 March 2021
Tangled Feet Limited Annual report and financial statements
14. Analysis of net assets
| Fixed assets Current assets Current libilities Fixed assets Current assets Current libilities |
Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2021 31 Mar 2021 31 Mar 2021 £ £ £ 854 - 854 153,501 45,492 198,993 (5,075) - (5,075) |
|---|---|
| 149,280 45,492 194,772 |
|
| Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 Mar 2020 31 Mar 2020 31 Mar 2020 £ £ £ 1,139 - 1,139 105,632 1,562 107,194 (4,885) - (4,885) |
|
| 101,886 1,562 103,448 |
15. Donated goods and services
During the previous year the charity was support by a number of organisations through donated goods and services. The income is reflected in note 3, with the matching expenditure allocated as follows:
| Storage space Accommodation and travel |
Total Total funds funds Year ended Year ended 31 Mar 2021 31 Mar 2020 £ £ 3,710 3,710 - 440 |
|---|---|
| 3,710 4,150 |
16. Trustee remuneration
During the year, no trustee received any remuneration (2020: £Nil). No members of the Board of Trustees received reimbursement of expenses (2020: £Nil).
17. Related party transactions
During the year there were no related party transactions (2020: £Nil).
Charity number 1143406 Company number 05079495
31
tangled