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2023-03-31-accounts

Trustees Annual Report and Unaudited Financial Statements Year ended 31 March 2023

Charity registation - 1143406

Company number - 05079495

Front cover:

Murmurations, Hartlepool Water Front Festival, 2022

Year ended 31 March 2023

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
Future Plans 8
Statement of board of trustees’ responsibilities 9
Independent examiner’s report 11
Statement of fnancial activities 13
Balance sheet 14
Statement of Cash Flows 15
Notes to the fnancial statements 16

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

Reference and administrative details

Charity number

1143406

Company number

05079495

Registered offce

33 Raynham Street Hertford SG13 7DE

Trustees

Adeyinka Akinrinade Rebecca Allen (Chair) Alessandro Forte Rae Leaver Catherine Stephen Sophie Scull Binita Walia (appointed 11.01.2023)

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

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

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 2023. 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 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 the 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

Some of the highlights from our year include:

A successful nationwide tour of Butterflies (first performed in 2017) to audiences of over 1,000 young people in a mixture of theatres and community/school settings. The piece helped support many children (and parents) affected by lockdown/COVID anxieties.

“ I brought my 5 and 3 year old to see Butterflies yesterday. They both absolutely loved it but my 5 year old especially. He is quite sensitive and sometimes nervous about doing new things, especially since COVID. We talked a lot after about it and he has been practising making a butterfly with his hands. I hope it is now a tool he can use going forward. It was a wonderful performance and so refreshing to see something a bit different for children - such a great message. The three performers were brilliant. Thank you.” Audience

After two years of planning, research and development, we were delighted to bring Belongings to audiences in Luton, Canterbury, London and Stockton-on-Tees in the production’s inaugural national tour. Co-produced with Rowantree Dramatherapy, Belongings explores the complex stories of children passing through the care system and we’ve been humbled by the feedback the production has received.

“So much more than theatre, Belongings is an outlet for therapy, a joyful celebration of childhood play, an articulation of resilience and a message that children in care can find their place in the world.” Review from everything-theatre.co.uk

“It’s brilliantly done, managing to be extremely relatable for children with no experience of the care system while giving them a rare insight into the reality of life in foster care.” Review from TheFamilyStage.co.uk

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

Nominated for two OFFIE Awards (Off West End Awards), Belongings will continue its development with national tours in Spring 2024 and beyond.

Tangled Feet’s Pop-Up Performance shop, featuring a series of short productions and events that TF nurtured during the early stages of the COVID-19 pandemic, opened to audiences in Luton in August 2022 (following its debut in summer 2021). We are continuing to work with several members of our wider ensemble to develop close to 40 projects we commissioned in summer 2020.

Belongings, Gulbenkian Theatre (Spring Tour), March 2023

Murmurations, by Steve Waters, continued its development with a performance at the Hartlepool Waterfront Festival in Summer 2022. Originally launched in 2021, Murmurations, an outdoor production that explores what we need from nature, and what nature needs from us during a time of recovery, will re-tour in autumn 2023.

“Congrats Tangled Feet for terrific Murmurations at Hartlepool Waterfront Festival – creative, contemporary, relevant work.. one of the best sitespecific/promenade shows I’ve seen.” Audience

“Feel very lucky to have experienced Tangled Feet’s Murmurations – a beautiful, story-filled journey through Teesmouth National Nature Reserve and a chance to contemplate our relationship with our local landscape.” Audience

We continued to support our wider ensemble of freelancers with our Devolution Evolution project. Across 22/23 short film PICK IT was screened in London and entered into short film competitions across the UK. Stardust, a piece to be experienced on VR headsets, and outdoor theatre piece A Series of Attempts to Take Up Space (both development via Devolution Evolution) continued to be developed into full pieces.

Tangled Feet continues its Task Force project, commissioned by the Department for Education,

delivering a comprehensive and varied therapy programme for students in Pupil Referral Units (PRU) in Croydon. We employ eight therapists in the Task Force and are providing creative therapeutic interventions to 62 students who are at risk of peer violence and have experienced significant trauma. We deliver this complex, challenging and rewarding project across five sites, and in addition to working with young people, we deliver training for PRU staff supporting children experiencing developmental trauma, bereavement and suicide.

Our Participation Programme continues to reach children, young people and emerging artists in our home town of Luton, and across the country, in an exciting range of activities. TF’s Mindfulness Project (originally created in 2018), that supports children experiencing mental health problems in educational settings has been delivered in 4 schools to over 60 participants in the last academic year. We have also delivered two Mindfulness Project camps as part of Active Luton’s Energise camp programme and delivered a performative version of the programme at the Imagine Children’s Festival, Southbank Centre.

We have also led residencies with two Luton Sixth Forms (Cardinal Newman and Luton College) combining student cohorts with professional actors, designers, technicians and a director to create new performance pieces. We continued to be involved in the Luton Cultural Strategy Group, convened by Luton Council, to help support and shape Luton’s Cultural offer.

In 2022/23 we added Binita Walia to our Board, who brings a wealth of PR expertise and previous young Trustee Adeyinka Akinrinade, actress and producer, became a full Trustee.

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

All professional paid internships on our productions have been rewarding and successful and we are grateful to funders such as The Hanley Trust, The Odin Charitable Trust, Bedfordshire & Luton Community Foundation and The Million Dollar Round Table Foundation who have supported our Participation Programme throughout the year.

Tangled Feet’s work is only possible thanks to the generosity and kindness of all our supporters. 2022-23 was Tangled Feet’s fifth year as an ACE Portfolio Organisation (NPO) and we were delighted with the news that our application to remain an NPO during the period 2023-26 was successful. At a time when ACE is making significant changes and cuts to its National Portfolio, Tangled Feet’s annual NPO grant will increase to £291,000 (from £196,000). We remain incredibly grateful to ACE for their long-term support of our work, and our other key strategic funders including The Esmee Fairbairn Foundation, and The Steel Charitable Trust.

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:

Wellbeing Wind Down, Mindfulness Workshops, Southbank Centre 2022

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 has no employees on permanent contracts.

Selection and appointment of Trustees

The Trustees may appoint new members by general agreement, where specialist skills are required.

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.

Risk management

Inflation and a cost-of-living crisis are negatively influencing the arts and cultural organisations whose resources were already stretched due to the COVID-19 pandemic. Tangled Feet is a dynamic and resourceful

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited

Annual report and financial statements

organisation and we are proud of our ability to evolve and adapt, and manage risk, to continue delivering our impactful.

With core funding in place as an Arts Council England NPO (and confirmed until March 2026) the charity is in a healthy position operating as a going concern. Tangled Feet has no debts, and no staff on permanent contracts.

Commissioning fees continue to be impacted because of the coronavirus pandemic and inflation, and therefore Tangled Feet must remain 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 engage with those who have been impacted by the pandemic.

Butterflies, The Albany (Autumn Tour) October 2022

The Trustees have considered the major risks to which the charity is exposed and established procedures to manage those risks in a risk register. 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.

Future Plans

Going forward, the trustees’ intention is to continue running the charity along similar lines to those carried out in recent years, to meet the charity’s objectives. Tangled Feet will resume delivering high quality artistic programmes (incl. retouring the Devolution Evolution project – ‘Pop Up Performance Shop’ in Rochdale and Hull, retouring ‘Murmurations’ at two new locations in Essex and Perthshire, and an extensive retour of OFFIE nominated ‘Belongings’). Alongside targeted participation work (incl. established artistic residencies at Luton Colleges and Sixth Forms) there will also be commencement of our Dramatherapy provision at pupil referral units in Croydon, with new site Melbury coming on line in September 2023. Both the mindfulness in schools project and the Department for Education’s – Taskforce programme have also been renewed from then and will carry over into the next accounting period (2024-2025). Other assigned activity (2023-2024) will also include a small autumn retour of the children’s production ‘Butterflies’, more R&D work (incl. working titles ‘Deep Adaptation’ and ‘Stardust’) plus the creation of a freelance steering group. Further training will be initiated for the Core team and trustees on Strategic planning, employee wellbeing and more enhanced training in diversity, equity and inclusion.

Financial results

During the current financial year the Charity achieved a deficit of £4,059 (2022: surplus of £35,883), decreasing total reserves at year end to £226,596 (2022: £230,655).

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. Tangled Feet is a lean organisation delivering significant value for money.

Reserves policy

Tangled Feet’s reserves (policy and designated) 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 £50,000. This target is equivalent to 3 months ‘core costs’, estimated to be at £40,000 plus £10,000 available for any discretionary expenditure. The Charity aims to achieve this reserve level by the end of March 2026 and has initiated a plan to allocate £5,000 per year, plus frequent additional funds made from fees and commissions in order to meet this target. The Trustees review the reserves

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

policy every year to make relevant adjustments.

At year-end Tangled Feet had unrestricted reserves of £191,743 (2022: £178,509) assigned as follows:

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:

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,

• prepare the financial statements on the going concern basis unless it is inappropriate to presume 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

Belongings, ARC Stockton (Spring Tour) March 2023

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 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

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

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 29 November 2023 and signed on its behalf by:

REBECCA ALLEN

CHAIR

The financial year 22/23 was a busy year of multiple projects (re-touring old work, staging new work, award nominations and a continued increase in our work with young people). We were really pleased to get so much work in front of young people with Butterflies re-touring widely and Belongings having its premiere. That work, coupled with our participation work in Luton and our Dramatherapy work in Croydon, demonstrate our commitment to young people. We are very proud that in 22/23 the investment in our Dramatherapy work was equal to the investment in our artistic practice and that we are now recognised as an industry leader in Dramatherapeutic practice. We were pleased to be able to continue to support our freelance community through the continued development of their projects and the celebration and protection of their value to the arts sector. 2023 saw us re-enter the Arts Council’s National Portfolio of core regularly funded companies with an increased settlement for our work. In squeezed financial times we are humbled by this support of our artistic practice and valued output. We continued to champion artist led practice in Luton and the paid and consistent development of young people in Luton alongside a cultural strategy that meets its audience and participants in local, meaningful and relevant activity.

Nathan Curry & Kat Joyce, Tangled Feet Co-Artistic Directors

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

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 2023 which are set out on pages 13 to 32.

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:

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:

• 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,

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited

Annual report and financial statements

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: 7 DECEMBER 2023

Andy Nash Accounting & Consultancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

Charity number 1143406 Company number 05079495

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Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

Statement of financial activities

Incorporating the Income and Expenditure Account & Statement of Realised Gains and Losses

For the year ended 31 March 2023

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
Productions
Making & touring new work
5 & 8
Retouring existing work
5 & 8
Research & development
5 & 8
Productions
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 2023
31 Mar 2023
31 Mar 2023
31 Mar 2022
£
£
£
£
`
205,735
68,500
274,235
330,457
227,785
-
227,785
170,484
35,140
-
35,140
28,548
468,660
68,500
537,160
529,489
12,636
-
12,636
7,658
193,560
11,047
204,607
127,983
44,306
33,017
77,323
51,410
237,866
44,064
281,930
179,393
75,044
20,057
95,101
202,817
96,553
19,071
115,624
72,805
33,327
2,601
35,928
30,933
204,924
41,729
246,653
306,555
442,790
85,793
528,583
485,948
455,426
85,793
541,219
493,606
13,234
(17,293)
(4,059)
35,883
178,509
52,146
230,655
194,772
191,743
34,853
226,596
230,655

The notes on pages 16 to 32 form part of the financial statements.

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

Balance sheet

As at 31 March 2023

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		 £
62,062
168,836		 Total
funds
31 Mar 2023

£
2,870



223,726



£

43,083
192,477		 Total
funds
31 Mar 2022

£
-



230,655
230,898
(7,172)		 235,560
(4,905)
53,342
138,401


44,437
134,072
226,596 230,655
34,853


191,743		 52,146


178,509

226,596 230,655

The notes on pages 16 to 32 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 2023, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 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 29 November 2023 and signed on their behalf by:

REBECCA ALLEN CHAIR

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Statement of Cash Flows

For year ended 31 March 2023

Cash fows from operating
activities:
Net income/(expenditure) for
period (as per SOFA)
Adjustments for
Depreciation charges
Loss on disposal of fxed assets
(Increase)/decrease in accounts
receivables
(Increase)/decrease in accrued grant
income
(Increase)/decrease in accrued theatre
tax relief
(Increase)/decrease in prepayments and
other debtors
Increase/(decrease) in accruals
Increase/(decrease) in HMRC & pension
payable
Increase/(decrease) in pension payable
Increase/(decrease) in VAT payable
Net cash used in operating activities
Cash fows from investing activities
Purchase of fxed asset
Sale of fxed assets
Net cash used in investing activities
Change in cash and cash equivalents in
period
Cash and cash equivalents at the beginning
of the period
Cash and cash equivalents at the
end of the period		 £
650
-
(14,467)
10,001
(13,530)

(983)
3,270
90
31
(1,124)		 Total
Funds
Year ended
31 Mar 2023
£
(4,059)






(16,062)




£
-
417
(2,555)
681
(28,548)
1,001
-
(1,322)
28
1,822		 Total
Funds
Year ended
31 Mar 2022
£
35,883







(28,476)
(3,520)
-		 -
437
(20,121)

(3,520)		 7,407


437

(23,641)
192,477		 7,844
184,633
168,836 192,477

The notes on pages 16 to 32 form part of the financial statements.

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

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 2023, 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 2023 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.

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 wider economic environment 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.

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.

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

1. Accounting policies (continued from previous page)

Income (continued from previous page)

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:

Computer equipment 5 years staight line

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.

Charity number 1143406 Company number 05079495

17

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

1. 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.

Belongings, Half Moon Theatre (Spring Tour), March 2023

Charity number 1143406 Company number 05079495

18

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

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
Productions
Making & touring new work
5 & 8
Retouring existing work
5 & 8
Research &
development
5 & 8
Productions
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
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
210,463
119,994
330,457
168,934
1,550
170,484
28,548
-
28,548
407,945
121,544
529,489
7,624
34
7,658
114,856
13,127
127,983
27,898
23,512
51,410
142,754
36,639
179,393
137,417
65,400
202,817
63,900
8,905
72,805
27,021
3,912
30,933
228,338
78,217
306,555
371,092
114,856
485,948
378,716
114,890
493,606
29,229
6,654
35,883
149,280
45,492
194,772
178,509
52,146
230,655

Charity number 1143406 Company number 05079495

19

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

3. Income from donations and legacies

Grants
Arts Council England - National Portfolio Organisation
Bedfordshire & Luton Community Fund
Colin Bennett
Esmee Fairbairn Foundation
The Hanley Trust
Million Dollar Round Table Foundation
Odin
Steel Charitable Trust
Grants
Donations
Grants
Arts Council England - National Portfolio Organisation
Arts Council England - Other
BBC Children in Need
Esmee Fairbairn Foundation
The Hanley Trust
Million Dollar Round Table Foundation
Odin
Royal Opera House
Steel Charitable Trust
Grants
Donations
Coronavirus Job Retention
Scheme		 Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2023
31 Mar 2023
31 Mar 2023
£
£
£
196,495
-
196,495
-
4,000
4,000
-
10,000
10,000
-
22,000
22,000
-
2,500
2,500
4,012
-
4,012
5,000
-
5,000
-
30,000
30,000
205,507
68,500
274,007
228
-
228
205,735
68,500
274,235
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
196,495
-
196,495
-
49,707
49,707
-
17,287
17,287
-
20,000
20,000
-
3,000
3,000
3,610
-
3,610
5,000
-
5,000
-
-
-
-
30,000
30,000
205,105
119,994
325,099
359
-
359
4,999
-
4,999
210,463
119,994
330,457

Charity number 1143406 Company number 05079495

20

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

  1. Income from charitable activities
Earned income and fees (incl. particiapation income)
Earned income and fees (incl. particiapation income)		 Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2023
31 Mar 2023
31 Mar 2023
£
£
£
227,785
-
227,785
227,785
-
227,785
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
168,934
1,550
170,484
168,934
1,550
170,484

Pop Up Shop, Luton Mall, 2022

Charity number 1143406 Company number 05079495

21

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

5. Total expenditure

Raising funds
Charitable activities
Dramatherapy
Other particiapation activities
Participation
Making and touring new
work
Retouring existing work
Research and development
Productions
Raising funds
Charitable activities
Dramatherapy
Other particiapation 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 2023
31 Mar 2023
31 Mar 2023
31 Mar 2023
£
£
£
£
-
10,877
1,759
12,636
27,086
161,669
15,852
204,607
27,086
34,386
15,851
77,323
54,172
196,055
31,703
281,930
9,810
75,212
10,079
95,101
9,810
95,735
10,079
115,624
9,811
16,038
10,079
35,928
29,431
186,985
30,237
246,653
83,603
393,917
63,699
541,219
Direct
Direct
Indirect
Total
staff costs
other costs
costs
costs
Year ended
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
£
-
6,693
965
7,658
26,617
93,420
7,946
127,983
26,617
16,847
7,946
51,410
53,234
110,267
15,892
179,393
9,648
181,512
11,657
202,817
9,648
51,500
11,657
72,805
9,649
9,628
11,656
30,933
28,945
242,640
34,970
306,555
82,179
359,600
51,827
493,606

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.

Charity number 1143406 Company number 05079495

22

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

5. Total expenditure (continued from previous page)

An analysis of staff costs can be found in note 9.

Support costs consists of the following:

vernance costs includes:
Insurance
Independent examination
Indirect staff costs
Indirect staff overtime
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 2023
31 Mar 2022
£
£
15,558
10,163
909
543
19,081
15,572
7,326
7,277
8,581
5,981
8,532
8,804
3,695
3,391
17
96
63,699
51,827
Total
Total
costs
costs
Year ended
Year ended
31 Mar 2023
31 Mar 2022
£
£
2,095
1,891
1,600
1,500
3,695
3,391

Governance costs includes:

The independent examiners received remuneration for the following services in the year:

Independent examination
Theatre tax relief support		 Total
Total
costs
costs
Year ended
Year ended
31 Mar 2023
31 Mar 2022
£
£
1,600
1,500
425
-
2,025
1,500

Charity number 1143406 Company number 05079495

23

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

6. 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 2023
31 Mar 2023
31 Mar 2023
£
£
£
10,877
-
10,877
1,759
-
1,759
12,636
-
12,636
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
6,693
-
6,693
931
34
965
7,624
34
7,658

Murmurations, Hartlepool Water Front Festival, 2022

Charity number 1143406 Company number 05079495

24

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

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 2023
31 Mar 2023
31 Mar 2023
£
£
£
17,086
10,000
27,086
160,622
1,047
161,669
15,852
-
15,852
193,560
11,047
204,607
17,086
10,000
27,086
11,369
23,017
34,386
15,851
-
15,851
44,306
33,017
77,323
237,866
44,064
281,930
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 2022
31 Mar 2022
31 Mar 2022
£
£
£
16,617
10,000
26,617
90,763
2,657
93,420
7,476
470
7,946
114,856
13,127
127,983
16,617
10,000
26,617
3,420
13,427
16,847
7,861
85
7,946
27,898
23,512
51,410
142,754
36,639
179,393

Charity number 1143406 Company number 05079495

25

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

- 8. 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 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		 Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2023
31 Mar 2023
31 Mar 2023
£
£
£
9,810
-
9,810
55,155
20,057
75,212
10,079
-
10,079
75,044
20,057
95,101
9,810
-
9,810
76,664
19,071
95,735
10,079
-
10,079
96,553
19,071
115,624
9,811
-
9,811
13,437
2,601
16,038
10,079
-
10,079
33,327
2,601
35,928
204,924
41,729
246,653
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
9,648
-
9,648
117,026
64,486
181,512
10,743
914
11,657
137,417
65,400
202,817
9,648
-
9,648
42,854
8,646
51,500
11,398
259
11,657
63,900
8,905
72,805
9,649
-
9,649
5,764
3,864
9,628
11,608
48
11,656
27,021
3,912
30,933
228,338
78,217
306,555

Charity number 1143406 Company number 05079495

26

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

  1. Staff costs
Staff costs
Gross salaries
Employer’s NIC
Employer’s Pension		 Total
Total
costs
costs
Year ended
Year ended
31 Mar 2023
31 Mar 2022
£
£
93,767
87,305
3,330
3,166
2,064
1,871
99,161
92,342

The average headcount during the period was 4 persons (2022: 4 persons).

No employee received employee benefits of more than £60,000 (2022: Nil).

The total employee benefits paid to key management personnel during the year was £56,991 (2022: £56,991).

10. Tangible fxed assets

Cost
At 1 April 2022
Addition
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 1 April 2022
At 31 March 2023		 Computer
Equipment
Total
£
£
-
-
3,520
3,520
3,520
3,520
-
-
650
650
650
650
-
-
2,870
2,870

Charity number 1143406 Company number 05079495

27

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

11. Debtors and prepayments

Trade debtors
Accrued theatre tax relief
Accrued grant income
VAT control account
Prepayments		 Total
Total
funds
funds
Year ended
Year ended
31 Mar 2023
31 Mar 2022
£
£
17,022
2,555
42,078
28,548
68
10,069
865
-
2,029
1,911
62,062
43,083

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 2023
31 Mar 2022
£
£
4,770
1,500
-
1,124
1,993
1,903
409
378
7,172
4,905

Charity number 1143406 Company number 05079495

28

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

  1. Analysis of charity funds
Unrestricted funds
General fund
Artistic development
Restricted funds
Grants for the Arts
Without Walls
Commission
Devolution Evolution
Project
Grants for the Arts
BBC Children in Need -
Young Carers
BBC Children in Need -
Mindfulness & Wellbeing
Bedfordshire & Luton
Community Fund
Colin Bennett
Esmee Fairbairn Foundation
The Hanley Trust
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 2023 31 Mar 2023 31 Mar 2023 31 Mar 2023 31 Mar 2023
£
£
£
£
£
44,437
468,660
(455,426)
(4,329)
53,342
134,072
-
-
4,329
138,401
178,509
468,660
(455,426)
-
191,743
1,179
-
-
-
1,179
1,301
-
(1,301)
-
-
2,480
-
(1,301)
-
1,179
111
-
-
-
111
9,167
-
(8,982)
-
185
-
4,000
-
-
4,000
-
10,000
-
-
10,000
10,000
22,000
(20,000)
-
12,000
259
2,500
(1,681)
-
1,078
30,129
30,000
(53,829)
-
6,300
52,146
68,500
(85,793)
-
34,853
230,655
537,160
(541,219)
-
226,596

Artistic development

During the prior year the charity designated £138,401 to be carried forward and allocated against artistic activity on projects that will now span tax years 23-24 and 24-25. These funds, which also contain commission fees, funds set aside for storage, capital purchases, participation projects, staff training and Dramatherapy costs (including funds for a new Therapeutic Theatre R&D), were mainly dispersed over 2324, and some assigned to 24-25 spend. A large proportion of the funds have been utilised on cross year touring costs for Murmurations, the Pop Up Peformance Shops, Belongings and on R&D costs for Devolution Evolution projects Star Dust and A Series of Attempts to Take Up Space. The funds will also form the basis of extensive costs on a new R&D project about on trauma recovery, currently titled Deep Adaptation. Additional use of the funds will also go towards further development of Luton school artistic residencies, plus a new ‘Freelance Steering Group’ as part of our ongoing perceptions audit and self-reflective model of analysis.

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).

Charity number 1143406 Company number 05079495

29

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

13. Analysis of charity funds (continued from previous page)

Grants for the Arts – Devolution Evolution Project

This was funding for the development and realisation of the Devolution Evolution project in Luton.

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.

Bedfordshire and Luton Community Fund

This is a grant towards the delivery costs of a Mindfulness project in two Luton schools.

Colin Bennett Fund

This is a grant towards the salary of the Participation Director and costs associated with charity’s work with vulnerable young people.

Esmee Fairbairn Foundation

This is a multi-year grant to support the salary of the Participation Director.

The Hanley Trust

This is a contribution towards the costs of our Dramatherapy work.

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

30

Year ended 31 March 2023

Tangled Feet Limited Annual report and financial statements

  1. Analysis of charity funds (continued from previous page)
Unrestricted funds
General fund
Artistic development
Restricted funds
Grants for the Arts
Without Walls Commission
Devolution Evolution
Project
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 2022 31 Mar 2022 31 Mar 2022 31 Mar 2022 31 Mar 2022
£
£
£
£
£
32,271
407,945
(378,716)
(17,063)
44,437
117,009
-
-
17,063
134,072
149,280
407,945
(378,716)
-
178,509
475
800
(96)
-
1,179
-
49,707
(48,406)
-
1,301
475
50,507
(48,502)
-
2,480
211
-
(100)
-
111
5,030
17,287
(13,150)
-
9,167
10,000
20,000
(20,000)
-
10,000
-
3,000
(2,741)
-
259
587
-
(587)
-
-
579
750
(1,329)
-
-
28,610
30,000
(28,481)
-
30,129
45,492
121,544
(114,890)
-
52,146
194,772
529,489
(493,606)
-
230,655

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.

Charity number 1143406 Company number 05079495

31

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2023

14. Analysis of net assets

gled Feet Limited
ual report and fnancial statements
Analysis of net assets		 Year ended 31 March 2023
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 2023
31 Mar 2023
31 Mar 2023
£
£
£
2,870
-
2,870
196,045
34,853
230,898
(7,172)
-
(7,172)
191,743
34,853
226,596
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2022
31 Mar 2022
31 Mar 2022
£
£
£
-
-
-
183,414
52,146
235,560
(4,905)
-
(4,905)
178,509
52,146
230,655

15. Trustee remuneration

During the year, no trustee received any remuneration in respect of trustee services (2022: £Nil). No members of the Board of Trustees received reimbursement of expenses (2022: £Nil).

During the year no (2022: two) of the trustees were paid for their creative involvement in projects of the charity. Adeyinka Akinrinade was paid £Nil (2022: £300) as an actor for reading days for the Murmurations in the research and development phase. Rae Leaver was paid £Nil (2022: £1,346) for their writing contribution to the Devolution Evolution sharing phase.

16. Related party transactions

During the year there were no related party transactions (2022: £Nil).

Charity number 1143406 Company number 05079495

32

tangled