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2025-03-31-accounts

Trustees Annual Report and Unaudited Financial Statements Year ended 31 March 2025

Charity registation - 1143406 Company number - 05079495

Front cover:

Rave New World performance, Marsh House, Luton, 2025

Photo credit: Great Zabulyte

Year ended 31 March 2025

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 8
Future plans 9
Statement of board of trustees’ responsibilities 10
Independent examiner’s report 13
Statement of fnancial activities 15
Balance sheet 16
Statement of cash fows 17
Notes to the fnancial statements 18

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

Reference and administrative details

Charity number

1143406

Company number

05079495

Registered offce

33 Raynham Street Hertford SG13 7DE

Trustees

Adeyinka Akinrinade Rebecca Allen (Chair - resigned as Chair and Trustee 26 September 2024) Alessandro Forte Rae Leaver (appointed Chair 2 October 2025) Catherine Stephen (Co-Chair - appointed 26 September 2024, resigned as trustee on 2 October 2025)

Sophie Scull (Co-Chair - appointed 26 September 2024, resigned as trustee on 2 October 2025) Binita Walia (resigned 2 October 2025) Olamide Davies (appointed 26 September 2024) Matthew Trustman (appointed 26 September 2024)

Company secretary

Alyson Jones

Independent examiners

Enaid Accountancy Ltd 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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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 2025. 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 – as they were when the company was formed in 2003.

The principle activates of the charity in the year under review were fourfold:

The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 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

In 2024-25 we worked to build and strengthen from our unique position as a company based in Luton and touring nationally.

We continue to lead the Artist Led Network of over 40 arts organisations working across the UK, and we remain a leading voice in the Luton Cultural Strategy Group.

Some of highlights from our year:

Performance works

We have made progress in devising our long-term creative development Deep Adaptation, a project that has brought together a cohort of 15 artists to explore how they have adapted through complex trauma, and what adaptions we make to our lives when things don’t go to plan. Two research and development periods in the year focused on both developing material through a range of artistic approaches, and refining the methodology and rationale behind why and how we make the work. We are evolving the idea of working in an academic/research partnership and viewing the project as a 5 year piece of practice evolution but we will start to bring Deep Adaption, in some form, to public audiences in the next year.

Deep Adaptation, Research & Development, Cornwall

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

Belongings, performance, National Tour, 2024

Belongings completed its 23-24 Spring tour on a high after celebrating at the Offie Awards. The show was features as a centrepiece at a children’s festival straddling both Northern Ireland the the Republic of Ireland in the autumn, and then retoured the UK for the third time in Spring 25, demonstrating its durability. Additionally, this year we began devising a new piece of therapeutic theatre for young people. Set to premiere in October 2026 at The Polka Theatre in Wimbledon and The Hat Factory, Luton, we are exploring young peoples’ experiences of exclusion from school.

With a grant from the Bedfordshire & Luton Community Foundation we launched ‘Ignite’, a project to support young and emerging artists in Central Bedfordshire. We recruited a Community Producer to lead this project and 8 artists are now

involved in the project. The cohort is part-way through 12 months of training and mentoring. Workshops to date have explored devising performances, fundraising, and governance and management of an arts organisation. The project endows the artists with some paid days with which to expand and enhance their practice as we wind up our mentorship together. The impacts of this project have already been profound.

We collaborated with Central-Bedfordshire artist Lucas Keen on his musical play A Waltz For New Orleans which was also mounted as a free-to-access event in Dunstable Library in April ‘25. This project was also funded by The Bedfordshire & Luton Community Foundation, enabling Tangled Feet to provide mentoring, producing support and helping Lucas devise and deliver wrap-around participative activities.

Our final performance of the year, Rave New World was a newly devised coproduction with Revoluton Arts featuring Pirates of the Carabina, in which almost 50 artists collaborated together. RNW was a spectacular outdoor show told through lyrics, music, aerial theatre, and moving cars. The production is a celebration, provocation, and call-to-action inspired by the history of Luton’s infamous Exodus Collective and delving into Luton’s rebellious rave music heritage. Performed in Marsh Farm across two nights in March 2025, Tangled Feet asked our audiences: What can the revolutionary spirit of the 90s DIY free party movement offer us as we face the challenges of 2025? Following the success of the show — which delivered economic benefits to Rave New World, premiere, Marsh House, Luton, 2025 the local community by supporting local tradespeople, catering organisations, independent retailers, security firms, accommodation providers, community bars and other local businesses, alongside wider cultural and artistic collaboration — we are now exploring a national tour of the production in a range of indoor and outdoor formats. We are also preparing to release an album featuring the show’s music.

The year saw two exciting new appointments made to the Tangled Feet staff team: Debo Adebayo joined the team as Senior Producer, and Aimee Gomez enhances our reach as Community Producer.

Participation

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. Tangled Feet’s Mindfulness Project (originally created in 2018) supports children experiencing mental health problems in schools has been delivered in 6 schools and at holiday camps to over 175 participants. 11 professional paid internships on

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Tangled Feet Limited Annual report and financial statements

all of our productions and projects have been rewarding and successful.

Case Study: LR begun their relationship with Tangled Feet, 8 years ago whilst studying for GCSEs at a Luton school, participating in workshops and then through their work with Next Generation Youth Theatre. LR joined the Rave New World production team in March as an intern, taking on an Assistant Director role. LR was then invited by Tangled Feet to work alongside Nathan on our R&D week at Polka theatre developing our new therapeutic theatre piece, in an Assistant Director role.

“I really enjoyed being in such a huge production with so many creatives, I learned so much about communication between production departments and the depth a director has to go to.” LR, Directing Intern

Mindfulness programme, Sommeries School, Luton, 2024

Our in-school residency at Luton College saw students create unique performances that were performed to invited audiences and formed part of their assessment for their BTEC qualification.

“Tangled Feet have created invaluable experiences for our students being able to create work and perform with professional actors but also directors, stage managers and designers. This has contributed significantly to their wider understanding of the professional world of the performing arts industry as well as being incredibly inspirational.” Steve Crayon, Head of Acting, Luton Sixth Form College.

We also started work on a project with Cardinal Newman School’s (Luton) newly formed Drama Company. Working with 30 students to create an original piece of theatre over the summer term 2025 which will be performed at the Hat Factory, Luton in July ‘25.

We worked with the University of Bedfordshire to deliver ‘devising original theatre’ workshops as part of their Cultural Careers Day and led sessions for around 20 visiting students. We also worked with 3 local authorities’ (Surrey, Luton and Kent) Virtual Schools departments to deliver an edited performance of Belongings with accompanying workshops and presentations at their respective conferences (June,

Creative Therapies, umbrella making, A Second Line for Dunstable - Waltz for New Orleans at Dunstable Library, 2025

November and March).

Creative Therapies

Tangled Feet’s therapy service was delivered by a team of 17 therapists: 12 Dramatherapists, two Music therapists, one Art Psychotherapist, a Psychodynamic Psychotherapist and an EFT Therapist during this period, with their contracts ranging from ½ a day to 5 days a week.

During the year 2,431 sessions took place across 21 settings: including PRUs, mainstream secondary, primary schools, and home visits. We remain committed to the professional development and support of our therapy team, and ran six CPD trainings for the therapists and two away days. The centralised Government task force funding was renewed for another year due to the overwhelming success of the programme. We set up a new task force service

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Tangled Feet Limited Annual report and financial statements

for five PRUs in Sutton. All contracts were renewed for the following academic year and we appointed a therapy coordinator and a Clinical line manager, each for one day a week, which has contributed to the ongoing robustness of the service.

As always, we are immensely grateful to the funders who make our Performances and our Participation programme activity possible. This year, The Hanley Trust, The Odin Charitable Trust, The Steel Charitable Trust, Bedfordshire & Luton Community Foundation and The Million Dollar Round Table Foundation made generous contributions.

Indeed, Tangled Feet’s work is only possible thanks to the generosity and kindness of all our supporters. 2024-25 was Tangled Feet’s seventh year as an ACE Portfolio Organisation (NPO) and we remain humbled by this status, the level of support it brings, and are mindful of the responsibilities that come with our role as a member of the National Portfolio.

A Second Line for Dunstable - Waltz for New Orleans, perfomance, Dunstable Library, 2025

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 and 27 November 2024.

Day-to-day management of Tangled Feet Limited is delegated by the Trustees to a Senior Management Team of part-time staff:

This team report to the Board of Trustees at quarterly meetings.

A project-based group of freelance staff including workshop leaders and associate artists deliver activities for Tangled Feet 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.

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

We said a heartfelt thank you and goodbye to Beccy Allen, who served on the Tangled Feet Board for over 13 years, first as a Trustee, and then completed her term as Chair in September 2024. We were incredibly fortunate to call on Beccy’s unwavering support and expertise through so much growth and change at our organisation across two decades. Following Beccy’s retirement from the Board, Catherine Stephen and Sophie Scull were appointed as Co-Chairs, and we warmly welcomed two new Trustees, Olamide Davies and Matthew Trustman.

Risk management and fnancial strategy

Ever increasing inflation and the ongoing cost-of-living crisis are negatively influencing the arts and cultural organisations whose resources remain stretched post-Covid. Touring has been affected by increased travel and accommodation costs, and profound changes in audience behaviour and last-minute booking has affected financial risk taking, commissioning and booking confidence across the sector. Income from trusts and foundations is under extreme demand, and as a result like many other organisations, we are seeing a lower rate of success with our applications.

There is, quite simply, less money to spend on the arts. Therefore, Tangled Feet must remain creative, flexible and responsive to ensure to we continue to achieve our aims and objectives.

Tangled Feet is a dynamic and resourceful organisation and we are proud of the ways we have evolved and adapted in recent years, including 2024-25 to manage risk and continue delivering our impactful work. One of our key strengths is our ability to build strong partnerships to deliver ambitious work and mutual benefits – this was exemplified with Revoluton during Rave New World.

With core funding in place as an Arts Council England NPO (now confirmed until March 2028 following recent extensions) the charity is in a healthy position operating as a going concern.

Tangled Feet has no debts, and no staff on permanent contracts.

As a response to a landscape of increasing financial volatility, the Company develops several projects simultaneously and remains ready for opportunity to bring them to fruition. We retain creative flexibility and scalability with our projects, carefully designing them so they can flex into a number of audiencefacing contexts. As ever, we never commit to expenditure until resources have been secured, giving us a bedrock of financial assuredness as we plan our work. This means we have projects that stretch across multiple financial years. This working methodology means that we maintain a healthy cash flow balance. We continue to claim all eligible Theatre Tax Relief and this is a vital and flexible source of income. We do not cash-flow potential TTR into projects from planning stages, preferring to claim the relief at the end of the project and then use that resource for the next project.

Our Therapies work is budgeted to cover its own costs, and the costs of running the service. We aim to maintain this important benchmark, and this model is working well. We have robust forecasting tools to maintain this financial model.

Monthly reviews of the Company’s entire financial picture are conducted, with scenario planning undertaken to mitigate against any financial shortfalls. This financial prudency enables us to often identify funds to meet the shortfall cost of presenting work in a landscape where commissioning and booking fees are falling.

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

Looking ahead, the trustees intend to maintain the charity’s mission by delivering a diverse programme of artistic and community-focused activities. Tangled Feet will build on its reputation for high-quality theatre by continuing to tour nationally, lead the Artist Led Network of 40+ organisations across the UK, and play an active role in the Luton Cultural Strategy Group. Future development includes further exploration of Deep Adaptation, bringing together more artists to explore individual and collective resilience in the face of change, with public sharing planned in the coming year. The therapeutic theatre production Belongings will continue touring to venues across the UK, while resources will be dedicated to devising a new coproduction with Polka Theatre on young people’s experiences of school exclusion, scheduled to premiere

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

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in 2026.

With support from the Bedfordshire & Luton Community Foundation, Tangled Feet will continue Ignite, a 12-month training and mentoring programme for eight emerging artists in Central Bedfordshire, led by a Community Producer, with tailored follow-on support planned. Plans also include collaboration with Bedfordshire artist Lucas Keen on A Waltz for New Orleans (premiering April 2025), and the development and adaptation of Rave New World, the large-scale outdoor co-production with Revoluton Arts and Pirates of the Carabina set in Luton.

Alongside its productions, Tangled Feet will focus on nurturing local talent, strengthening leadership and governance among trustees and staff, and delivering training on allyship, equity, and menopause awareness to embed a culture of inclusivity and resilience.

Financial results

During the current financial year the Charity achieved a surplus of £20,815 (2024: surplus of £36,551), increasing total reserves at year end to £283,962 (2024: £263,147).

The Trustees are satisfied with the financial performance of the charity throughout the year. No Tangled Feet project is ever delivered without funding 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 project costs. As per previous years, governance costs remain commendably low.

We are proud that Tangled Feet remains a lean, flexible organisation delivering significant value for money.

Reserves policy

Tangled Feet’s reserve policy allocates 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 £95,200. This target is equivalent to 3 months ‘core costs’, estimated to be at £55,200 plus £10,000 available for any discretionary expenditure. Additionally, an extra £25,000 is allocated to cover the potential wind-down costs of charity’s Dramatherapy provision.

The Charity aims to achieve this reserve level by the end of March 2030 and has initiated a plan to allocate £6,600 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 £265,152 (2024: £242,742), of which £69,275 (2024: £66,511) was a minimum reserve accumulated from a range of sources including Theatre Tax Relief, commission fees, and investment income. The remainder of the funds, £195,877 (2024: £176,231) have been committed to production activities and indirect costs post year-end.

A proportion of our reserves is held in an investment portfolio with carefully managed risk profile. This is delivering returns well above inflation, and, with scrutiny from Trustees, we continue to actively research how we can responsibly generate returns from our reserve fund balances.

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:

Charity number 1143406 Company number 05079495

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Tangled Feet Limited Annual report and financial statements

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 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 12 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 2 December 2025 and signed on its behalf by:

RAE LEAVER

CHAIR

Statement from the Co-Artistic Directors and Joint CEOs:

The 2024-25 financial year has been one of deepening connections and new relationships. An exciting new commissioning opportunity late in the year led to us quickly pivoting to make Rave New World and we toured Belongings across the UK. We continued exploring Deep Adaptation, and began R and D on a new co-created children’s show, and welcomed highly skilled new people to the team – Senior Producer Debo Adebayo, and Community Producer Aimee Gomez, alongside new Board members Olamide “Lehni” Lamide Davies and Matthew Trustman.

We had continued high demand for our therapeutic services. The addition of Therapies Coordinator Sally Ellicott to the team has enabled us to deliver a more resilient service and given us the capacity to take on additional contracts. We are proud of the support we offer to the team of therapists who work with us, who in turn are helping effect significant transformations with the young people with whom we work.

This year has also seen closer working between the therapeutic and creative arms of the company, with our arts therapists providing creative supervision to the Deep Adaptation team, and a collaborative approach on the new Polka commission for young people, with rich benefits on all sides.

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Rave New World exemplified the power of both the long-term creative relationships that we’ve built, which enable us to work quickly, adeptly and ambitiously with tight resources, and our success at auguring new partnerships. Together with Revoluton Arts, Pirates of the Carabina, NGYT and Marsh Farm Outreach, we delivered a show that was much greater than the sum of its parts. Received with huge enthusiasm by an audience who came from walking-distance Luton and from across the UK, the show has also excited outdoor arts programmers and festivals. This perhaps speaks to the paucity of new outdoor work of scale, complexity and political and dramaturgical robustness, which has been increasingly difficult to make in recent years.

Touring Belongings (its third tour) in 24/25 demonstrated the long legacy we hope productions can have brokered new relationships in Coventry and Torquay, we also widened our reach by taking the show to several Social Services and Education conferences.

Our work in Luton has seen us work in more schools, continue our talent development work and premiere new work locally. We remain an active voice within the Arts and Cultural Strategy Group - speaking for more opportunities for artists, a fairer and equitable local cultural scene and new programmes than centre inclusion. We’ve broadened our Talent Development strategy into Central Bedfordshire.

Alongside all of this, behind the scenes, the work on a new messaging framework and towards a new website has seen us stop and think about how we present our story, and the rich, broad and complex nature of our offer.

The arts and cultural landscape remains difficult as post covid changes in audience behaviour, programming risk aversion and the cost of living crisis, coupled with challenges in the funding picture mean we remain dynamic and flexible to change and opportunity. Vitally, we continue to make work which we believe is ambitious, urgent, and made with a deep commitment to equality. We continue to explore, to evolve, and to strive constantly to improve and redefine best practice in a changing world.

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

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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 2025 which are set out on pages 15 to 36.

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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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 FCA

MEMBER OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES – 2461833

DATED: 10 DECEMBER 2025

Enaid Accountancy Ltd Units 24 & 25 Goodsheds Container Village Hood Road Barry CF62 5QU

Charity number 1143406 Company number 05079495

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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 2025

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)
Transfers between funds
Net gains/(losses) on
investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
14 & 15
Total funds carried forward
14 & 15		 Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
Year ended
Year ended
Year ended
Year ended
31 Mar 2025
31 Mar 2025
31 Mar 2025
31 Mar 2024
£
£
£
£
299,521
51,000
350,521
342,673
365,365
-
365,365
274,541
51,100
-
51,100
4,906
715,986
51,000
766,986
622,120
8,241
10
8,251
8,937
327,108
7,479
334,587
261,741
90,921
16,825
107,746
83,391
418,029
24,304
442,333
345,131
138,331
29,121
167,452
112,019
95,401
98
95,499
72,241
34,477
36
34,513
51,211
268,209
29,255
297,464
235,471
686,238
53,559
739,797
580,602
694,479
53,569
748,048
589,539
21,507
(2,569)
18,938
32,581
(974)
974
-
-
1,877
-
1,877
3,970
22,410
(1,595)
20,815
36,551
242,742
20,405
263,147
226,596
265,152
18,810
283,962
263,147

The notes on pages 18 to 36 form part of the financial statements.

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Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

Balance sheet

As at 31 March 2025

Notes
Fixed assets:
Tangible assets
10
Investments
11
Current assets:
Debtors & prepayments
12
Cash at bank and in hand
Creditors
Amounts falling due within
one year
13
Net current assets/(liabilities)
Net assets/(liabilities)
The funds of the charity:
Restricted funds
14 & 15
Unrestricted funds
General funds
14 & 15
Designated funds
14 & 15
Unrestricted funds
Total charity funds		 £
110,003
150,641		 Total
funds
31 Mar 2025

£
4,466
45,341



234,155



£


29,915
188,326		 Total
funds
31 Mar 2024

£
5,836
43,464



213,847
260,644
(26,489)		 218,241
(4,394)
69,275
195,877


66,511
176,231
283,962 263,147
18,810


265,152		 20,405


242,742

283,962 263,147

The notes on pages 18 to 36 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 2025, and the members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2025 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 2 December 2025 and signed on their behalf by:

RAE LEAVER

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 2025

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 deferred income
Increase/(decrease) in HMRC and
pension payable
Increase/(decrease) in pension payable
Net cash used in operating activities
Cash fows from investing activities
Purchase of fxed asset
Investments made
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		 £
1,370
-
(27,469)
68
(51,100)

(1,587)
16,792
3,595
1,448
260		 Total
Funds
Year ended
31 Mar 2025
£
18,938







(56,623)




£

360
-
2,619
-
31,195
(1,667)
(3,170)
-
251
141		 Total
Funds
Year ended
31 Mar 2024
£
32,581








29,729
-
-		 (3,326)
(39,494)
(37,685)


-		 62,310
(42,820)
19,490
168,836


(37,685)
188,326
150,641 188,326

The notes on pages 18 to 36 form part of the financial statements.

Charity number 1143406 Company number 05079495

17

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

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 2025, 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 2025 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 14 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 14 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

18

Year ended 31 March 2025

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

19

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

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.

Charity number 1143406 Company number 05079495

20

Year ended 31 March 2025

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)
Transfers between funds
Net gains/(losses) on investments
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 2024
31 Mar 2024
31 Mar 2024
£
£
£
324,973
17,700
342,673
274,541
-
274,541
4,906
-
4,906
604,420
17,700
622,120
8,927
10
8,937
260,893
848
261,741
54,017
29,373
83,390
314,910
30,221
345,131
111,907
112
112,019
69,289
2,952
72,241
51,175
36
51,211
232,371
3,100
235,471
547,281
33,321
580,602
556,208
33,331
589,539
48,212
(15,631)
32,581
(1,183)
1,183
-
3,970
-
3,970
50,999
(14,448)
36,551
191,743
34,853
226,596
242,742
20,405
263,147

Charity number 1143406 Company number 05079495

21

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

3. Income from donations and legacies

Grants
Arts Council England - National Portfolio Organisation
Bedfordshire & Luton Community Fund
Steel Foundation
The Hanley Trust
Odin
Grants
Donations		 Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2025
31 Mar 2025
31 Mar 2025
£
£
£
291,495
-
291,495
-
23,000
23,000
-
25,000
25,000
-
3,000
3,000
5,000
-
5,000
296,495
51,000
347,495
3,026
-
3,026
299,521
51,000
350,521
Grants
Arts Council England - National Portfolio Organisation
Backstage Trust
Bedfordshire & Luton Community Fund
Esmee Fairbairn Foundation
The Hanley Trust
Million Dollar Round Table
Foundation
Odin
Postcode People Places
Grants
Donations		 Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
291,495
-
291,495
-
5,000
5,000
-
7,000
7,000
-
2,700
2,700
-
3,000
3,000
3,164
-
3,164
5,000
-
5,000
25,000
-
25,000
324,659
17,700
342,359
314
-
314
324,973
17,700
342,673

Charity number 1143406 Company number 05079495

22

Year ended 31 March 2025

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 2025
31 Mar 2025
31 Mar 2025
£
£
£
365,365
-
365,365
365,365
-
365,365
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
274,541
-
274,541
274,541
-
274,541

Rave New World, performance, Marsh House, Luton, 2025

Charity number 1143406 Company number 05079495

23

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

5. Total expenditure

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 2025
31 Mar 2025
31 Mar 2025
31 Mar 2025
£
£
£
£
-
7,178
1,073
8,251
46,378
265,477
22,732
334,587
46,377
38,637
22,732
107,746
92,755
304,114
45,464
442,333
13,571
142,750
11,131
167,452
13,571
70,797
11,131
95,499
13,571
9,812
11,130
34,513
40,713
223,359
33,392
297,464
133,468
534,651
79,929
748,048
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 2024
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
£
-
7,573
1,364
8,937
34,749
205,964
21,028
261,741
34,749
27,614
21,028
83,391
69,497
233,578
42,056
345,131
12,033
89,846
10,140
112,019
12,033
50,068
10,140
72,241
12,034
29,037
10,140
51,211
36,100
168,951
30,420
235,471
105,597
410,102
73,840
589,539

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.

Charity number 1143406 Company number 05079495

24

Year ended 31 March 2025

Tangled Feet Limited Annual report and financial statements

5. Total expenditure (continued from previous page)

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.

Support costs consists of the following:

vernance costs includes:
Insurance
Independent examination
Investment fees
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 2025
31 Mar 2024
£
£
14,756
18,168
23,173
18,489
8,779
7,503
19,606
14,246
9,040
10,987
4,455
4,353
120
94
79,929
73,840
Total
Total
costs
costs
Year ended
Year ended
31 Mar 2025
31 Mar 2024
£
£
2,855
2,248
1,600
1,600
-
505
4,455
4,353

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 2025
31 Mar 2024
£
£
1,600
1,600
315
315
1,915
1,915

Charity number 1143406 Company number 05079495

25

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

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 2025
31 Mar 2025
31 Mar 2025
£
£
£
7,178
-
7,178
1,063
10
1,073
8,241
10
8,251
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
7,573
-
7,573
1,354
10
1,364
8,927
10
8,937

Deep Adaptation, Research & Development, Lamledra Barns, Cornwall, 2024

Charity number 1143406 Company number 05079495

26

Year ended 31 March 2025

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 2025
31 Mar 2025
31 Mar 2025
£
£
£
46,378
-
46,378
258,364
7,113
265,477
22,366
366
22,732
327,108
7,479
334,587
41,377
5,000
46,377
26,865
11,772
38,637
22,679
53
22,732
90,921
16,825
107,746
418,029
24,304
442,333
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 2024
31 Mar 2024
31 Mar 2024
£
£
£
34,749
-
34,749
205,374
590
205,964
20,770
258
21,028
260,893
848
261,741
12,749
22,000
34,749
20,276
7,338
27,614
20,993
35
21,028
54,018
29,373
83,391
314,910
30,221
345,131

Charity number 1143406 Company number 05079495

27

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

- 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 2025
31 Mar 2025
31 Mar 2025
£
£
£
13,571
-
13,571
113,826
28,924
142,750
10,934
197
11,131
138,331
29,121
167,452
13,571
-
13,571
70,797
-
70,797
11,033
98
11,131
95,401
98
95,499
13,571
-
13,571
9,790
22
9,812
11,116
14
11,130
34,477
36
34,513
268,209
29,255
297,464
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
12,033
-
12,033
89,846
-
89,846
10,028
112
10,140
111,907
112
112,019
12,033
-
12,033
47,179
2,889
50,068
10,077
63
10,140
69,289
2,952
72,241
12,034
-
12,034
29,037
-
29,037
10,104
36
10,140
51,175
36
51,211
232,371
3,100
235,471

Charity number 1143406 Company number 05079495

28

Year ended 31 March 2025

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 2025
31 Mar 2024
£
£
139,559
115,658
5,461
5,454
3,204
2,653
148,224
123,765

The average headcount during the period was 6 persons (2024: 4 persons).

No employee received employee benefits of more than £60,000 (2024: Nil).

The total employee benefits paid to key management personnel during the year was £81,426 (2024: £72,200).

10. Tangible fxed assets

Cost
At 1 April 2024
Addition
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 1 April 2024
At 31 March 2025		 Computer
Equipment
Total
£
£
6,846
6,846
-
-
6,846
6,846
1,010
1,010
1,370
1,370
2,380
2,380
5,836
5,836
4,466
4,466

Charity number 1143406 Company number 05079495

29

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

11. Investments

Market value brought forward
Additions at cost
Net (losses)/gains in period
Market value carried forward
Cash held as part of investment portfolio
UK equities and funds
Cash and cash equivalents		 Total
Total
funds
funds
Year ended
Year ended
31 Mar 2025
31 Mar 2024
£
£
43,464
-
-
39,494
1,877
3,970
45,341
43,464
-
-
45,341
43,464
Total
Total
funds
funds
Year ended
Year ended
31 Mar 2025
31 Mar 2024
£
£
26,253
43,464
19,088
-
45,341
43,464

12. 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 2025
31 Mar 2024
£
£
41,872
14,403
61,983
10,883
-
68
2,559
1,716
3,589
2,845
110,003
29,915

Charity number 1143406 Company number 05079495

30

Year ended 31 March 2025

Tangled Feet Limited Annual report and financial statements

  1. Creditors: amounts falling due within one year
Accruals
Deferred income
PAYE control account
Pension control account		 Total
Total
funds
funds
Year ended
Year ended
31 Mar 2025
31 Mar 2024
£
£
18,392
1,600
3,595
-
3,692
2,244
810
550
26,489
4,394

IGNITE, a project to support emerging artists in Central Bedfordshire, Ampthill, 2025

Charity number 1143406 Company number 05079495

31

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

14. Analysis of charity funds

Unrestricted
funds
General fund
Artistic
development
Restricted funds
Grants for the
Arts
Without
Walls
Commission
Grants for the
Arts
Backstage
Trust
Bedfordshire
& Luton
Community
Fund
Bedfordshire
& Luton
Community
Fund - Ignite
Bedfordshire
& Luton
Community
Fund - Waltz
for New
Orleans
Esmee
Fairbairn
Foundation
The Hanley
Trust
Steel
Charitable
Trust		 Balance
Income Expenditure
Transfers
Net gain/
Balance
brought
for the
in the
between
(loss) on
carried
forward
period
period
funds investments
forward
Year ended
Year ended
Year ended
Year ended
Year ended
Year ended
31 Mar 2025 31 Mar 2025 31 Mar 2025 31 Mar 2025 31 Mar 2025 31 Mar 2025
£
£
£
£
£
66,511
715,986
(694,479)
(20,620)
1,877
69,275
176,231
-
-
19,646
-
195,877
242,742
715,986
(694,479)
(974)
1,877
265,152
1,179
-
-
-
-
1,179
1,179
-
-
-
-
1,179
5,000
-
(5,000)
-
-
-
10,581
3,000
(6,092)
-
-
7,489
-
15,000
(8,160)
-
-
6,840
-
5,000
(5,223)
223
-
-
1,006
-
(1,006)
-
-
-
2,639
3,000
(6,390)
751
-
-
-
25,000
(21,698)
-
-
3,302
20,405
51,000
(53,569)
974
-
18,810
263,147
766,986
(748,048)
-
1,877
283,962

Charity number 1143406 Company number 05079495

32

Year ended 31 March 2025

Tangled Feet Limited Annual report and financial statements

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

Designated fund

During the previous financial year, the charity designated £195,877 to be carried forward for use across artistic, participatory, and therapeutic initiatives scheduled for the 2025–26 and 2026–27 financial years. These designated funds include allocations from commission fees, for website development, participation projects, staff training, and Therapies-related costs. The Therapies designation covers enhanced hours for Therapist coordination, a contribution to 2025–26 overheads, clinical supervision, and a suspense fund to support therapist-led projects delivered outside core SLAs. The majority of expenditure is planned for 2025–26, with the remaining balance earmarked for 2026–27.

A substantial portion of the funds supports multi-year touring and production costs, including:

Designated funds also contribute to ongoing research and development for the trauma-recovery project Deep Adaptation, and to the delivery of Second Line for Dunstable – A Waltz for New Orleans in April 2025. Additional allocations support the IGNITE programme for local artist development in Central Bedfordshire, the Freelance Steering Group, continuing artistic residencies in Luton schools, and the ongoing Mindfulness project. Carry-forward funds will additionally support international therapeutic theatre partnership work with Al Harah Theatre in Beit Jala, Bethlehem, scheduled for October 2025.

The use of designated funds aligns with our touring model, the timing of commission income across tax years, and the multi-year structure of our creative partnerships and project development cycle

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).

Backstage Trust

This is a grant towards the salary of the Participation Director.

Bedfordshire and Luton Community Fund - Luton Rising (Mindfulness Programme)

‘Luton Rising’ Small Grant - contribution to the continuation of Tangled Feet’s Mindfulness in schools programme in Luton and Bedfordshire from April 2024.

Bedfordshire and Luton Community Fund - Ignite

‘IGNITE’ – Grant funding for a 12-month project (to December 2025) to strengthen the creative sector in Central Bedfordshire. The grant supports a Community Talent Development Producer working with nine local artists and companies through skills workshops and mentoring, helping to upskill and connect local creatives and build a more resilient artistic community.

Bedfordshire and Luton Community Fund - Waltz for New Orleans

Grant for A Second Line for Dunstable: Waltz Fore New Orleans – Funding to support Lead Artist Lucas Keen in delivering a one-day takeover at Dunstable Library, including a performance of A Waltz in New Orleans, workshops, and a New Orleans–style parade. The project celebrates Black excellence, offers inclusive community engagement around themes of loss and resilience, and supports Keen and his ensemble in reaching new audiences and developing future work.

Charity number 1143406 Company number 05079495

33

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

14. 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.

The Hanley Trust

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

Steel Charitable Trust

A one-off grant will support Tangled Feet’s charitable mission in Luton, contributing to access and production costs for Rave New World while also investing in a new Community Producer role, nurturing local creative talent, and providing arts internships for Lutonians.

Charity number 1143406 Company number 05079495

34

Year ended 31 March 2025

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
Grants for the
Arts
BBC Children
in Need -
Young Carers
BBC Children
in Need -
Mindfulness &
Wellbeing
Backstage
Trust
Bedfordshire
& Luton
Community
Fund
Colin Bennett
Esmee
Fairbairn
Foundation
The Hanley
Trust
Steel
Charitable
Trust		 Balance
Income Expenditure
Transfers
Net gain/
Balance
brought
for the
in the
between
(loss) on
carried
forward
period
period
funds
investments
forward
Year ended
Year ended
Year ended
Year ended
Year ended
Year ended
31 Mar 2024 31 Mar 2024 31 Mar 2024 31 Mar 2024
31 Mar 2024 31 Mar 2024
£
£
£
£
£
£
53,342
604,420
(556,208)
(39,013)
3,970
66,511
138,401
-
-
37,830
-
176,231
191,743
604,420
(556,208)
(1,183)
3,970
242,742
1,179
-
-
-
-
1,179
1,179
-
-
-
-
1,179
111
-
(111)
-
-
-
185
-
(185)
-
-
-
-
5,000
-
5,000
4,000
7,000
(419)
-
-
10,581
10,000
-
(10,000)
-
-
-
12,000
2,700
(13,694)
-
-
1,006
1,078
3,000
(1,439)
-
-
2,639
6,300
-
(7,483)
1,183
-
-
34,853
17,700
(33,331)
1,183
-
20,405
226,596
622,120
(589,539)
-
3,970
263,147

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

35

Tangled Feet Limited Annual report and financial statements

Year ended 31 March 2025

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

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.

15. 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 2025
31 Mar 2025
31 Mar 2025
£
£
£
49,807
-
49,807
241,834
18,810
260,644
(26,489)
-
(26,489)
265,152
18,810
283,962
Unrestricted
Restricted
Total
funds
funds
funds
Year ended
Year ended
Year ended
31 Mar 2024
31 Mar 2024
31 Mar 2024
£
£
£
49,300
-
49,300
197,836
20,405
218,241
(4,394)
-
(4,394)
242,742
20,405
263,147

16. Trustee remuneration

During the year, no trustee received any remuneration in respect of trustee services (2024: £Nil). No members of the Board of Trustees received reimbursement of expenses (2024: £Nil).

During the year no trustees (2024: one) were paid for their creative involvement in projects of the charity. Rae Leaver was paid £nil (2024: £600) for their creative work on Deep Adaptation.

17. Related party transactions

During the year there were no related party transactions (2024: £Nil).

Photo Credits

All pictures of Rave New World: Greta Zabulyte

All other pictures: Members of the core team

Charity number 1143406 Company number 05079495

36

tangled