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← Casa Theatre Festival Limited

2024-12-31-accounts

CASA Theatre Festival Limited

Unaudited Financial Statements For the year ended 31 December 2024

Charity No. 1152644 Company No. 07284541

CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

________________ ________________
Section Page
Legal and Administrative Information 1
Structure, Governance and Management 2
Objectives and Activities 2
Achievements and Performance 3
Key Evaluation Findings 4
Financial Review 4
Facing the Future 5
Statement of Trustees’ Responsibilities 5
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10

CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

_______________

LEGAL AND ADMINISTRATIVE INFORMATION

Company Number: 07284541 Charity Number: 1152644 Registered Office: Smokehouse Yard, 44-46, St. John’s Street, London EC1M 4DF Trustees: Andrew Wood – Chairman David Martinez Flores Melusine de Chazal (resigned 8th January 2025) Ana Gonzalez Trevino (resigned 1[st] August 2024) Artistic Director: Cordelia Grierson Bankers: The Co-operative Bank Ltd P.O. Box 101 1 Balloon Street Manchester M60 4EP Independent Examiner: Louise Alexander, ACMA 3 Upper High Street Ipswich IP1 3NE

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CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Structure, governance and management

Constitution

The Company is limited by guarantee and has no share capital. It is also a registered charity. The Members of the Board who served at any time during the period and to date are as set out on page 1.

Governance

The charity is administered by the Board of Trustees which is its governing body. The Board meets regularly to discuss and implement policy and to take major strategic decisions whilst delegating day to day authority to the staff team. Trustees are appointed to the Board in accordance with the trust deed. New trustees are inducted by existing members of the Board.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.

Organisation and staffing

In 2024, recognising the need to strengthen organisational capacity and ensure continuity, Artistic Director Cordelia Grierson began the process of nurturing a new senior member of the team. Following an extensive interview process conducted with both the board and Brixton House, we appointed a Head of Programmes, who will work closely with Cordelia over the coming year to gain a deep understanding of CASA’s artistic vision, operational processes, and stakeholder relationships. This investment in leadership development marks an important step towards building greater stability and shared knowledge within the organisation.

Objectives and Activities

Policies and objectives

CASA is an arts organisation whose central goal is to facilitate cultural exchanges between Latin America and the U.K., and to showcase progressive and unique work. By programming a diverse spectrum of work made by artists based in Latin America, as well as those of Latin American heritage based in the U.K., the CASA stage sheds light on theatre, dance, music and film that might otherwise be left unseen by U.K. audiences.

Our charitable objectives are:

To promote, maintain, improve and advance education and appreciation of the arts, in particular the performing arts from Latin America, and;

To relieve the needs of people who are socially and economically disadvantaged by providing support and activities which develop their skills, capacities and capabilities to enable them to participate more fully in society.

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CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Public Benefit

In planning their activities the trustees confirm they have had regard to the Charity Commission’s general guidance on public benefit.

As further explained in our achievements and performance as below we offered a public benefit to the wilder population in programming work from Latin American artists who may not otherwise have had a platform and whose work would otherwise not been seen by the wider public. This work showcases themes and cultures that increase the public’s awareness of and appreciation of a fuller range of artistic expression.

We also deliver a specific benefit to the Latin American communities in London. Firstly, through supporting early career artists, producers and technicians by giving access to artistic opportunities and career development. Secondly, through giving Latin American audiences work that both reflects and challenges their cultures and a space for an engagement with community groups that celebrate more traditional modes of expression.

Reserves Policy

The organisation’s policy is to hold a minimum reserve of £10,000. This represents 4 months of operating costs. This level would allow an orderly winding down of the organisation if necessary, but also permits us the flexibility to programme a work of outstanding artistic merit, if the budget for any particular year is not sufficient and should the trustees feel that the expenditure is justified in pursuing our charitable objectives, or to temporarily bridge any funding gaps that may occur due the changing financial landscape.

Achievements and performance

Summary

2024 was a pivotal year for CASA, marked by significant artistic achievements and important steps in strengthening our curatorial capacity. We developed new work in Mexico as part of a residency with our long-standing collaborators, Cuatroxcuatro, and presented it to Mexican audiences. This project built on our previous British Council International Collaboration and extension grants, deepening the creative relationship between UK and Mexican artists.

Casa became an Associate Company of Brixton House Theatre, establishing a stronger base for future programming and collaboration. Alongside this, we began the process of onboarding a new curatorial voice into the organisation, selected through a rigorous recruitment process with the board and Brixton House. This role will work closely with our Artistic Director to shape future programmes and bring fresh perspectives to CASA’s artistic vision.

Key Achievements

CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

In delivering this programme of activities, we achieved all our principal long standing objectives this year, namely:

Key Evaluation Findings

Artistic

In 2024, CASA’s artistic activity continued to deliver high-quality, distinctive work that aligned with our mission to champion Latinx voices and foster international collaboration.

These developments strengthened CASA’s role as a bridge between UK Latinx artists, international collaborators, and audiences, and laid the groundwork for more ambitious projects in future years.

Developing audiences

We connected with our audiences during performances, free activities and public intervention.

We did a lot of outreach in partnership with Brixton House, particularly to connect with the Latin American community of Lambeth, the borough with the highest population in the country.

Financial Review

As this was a transitionary year, with staff re-structuring and recruitment and new partnerships developed, there was no project expenditure in year - all of the spend for Mexico was accounted for in the prior year and delivery came early in the year with the spend running through the partner organisation. We also had a reduced overhead spend as Cordelia’s hours reduced in October and Gabriela started in December, so the planned breakeven budget actually posted a small surplus of £2,496 (2023: deficit of £41,147). This meant we ended the year with reserves of £19,244 (2023: £16,747), giving us a comfortable level of reserves above base reserves of £10,000 to allow Gabriela and Cordelia the time and space to work on new concepts, funding applications and partnership building in 2025, particularly with a secured support of £10,000 from Brixton House to spend on artistic activity, that can serve as seed funding for a wider project.

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CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Organisation and staffing

Our artistic director, Cordelia Grierson carried into her seventh year supported by our team of freelancers. We have been supported by the in-house production team at Brixton House as we move to the associate model and recruited for a new position, head of programmes by visual arts curator Gabriela Roman Gonzalez. We were supported by Felix Andrew, our long standing finance director.

Concluding Thoughts

We are so excited and happy to be able to connect with our audiences in Mexico, support UK based Latinx artists to grow, become an associate company and give CASA a physical home in south London.

Facing the Future

Looking ahead, CASA will expand our year-round presence at Brixton House, building on our Associate Company status to deliver more consistent programming and deepen our relationship with audiences. A key step will be the onboarding of a new curatorial position, bringing fresh perspectives to our artistic vision and enabling greater capacity for programme development.

We will use this next phase to explore the intersection of process and creation, ensuring that our work not only produces compelling outcomes but also values and shares the journey of making. CASA will continue to act as a hub for the UK Latinx community, a place for connection, artistic exchange, and mutual support, while fostering relationships that strengthen our role locally, nationally, and internationally.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of CASA Theatre Festival Ltd for the purpose of the company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that 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.

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CASA THEATRE FESTIVAL LTD

TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions relating to small companies within Section 415A of the Companies Act 2006.

This report was approved by the trustees on and signed on their behalf: 11th September 2025

Andrew Wood Chairman

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CASA THEATRE FESTIVAL LTD

I report to the charity trustees on my examination of the accounts of CASA Theatre Festival Ltd for the year ended 31 December 2024, which comprise the Statement of Financial Activities (incorporating an income and expenditure account), Balance Sheet and related notes.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner's Statement

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

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.

Louise Alexander, ACMA

Louise Alexander Ltd 3 Upper High Street Ipswich IP1 3NE

Date: 26th September 2025

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CASA THEATRE FESTIVAL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted Restricted Total
Note Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Income from:
Donations and legacies 3 33,250 - 33,250 33,350 - 33,350
Charitable activities 4 - - - 9,648 29,000 38,648
Investments 51 - 51 - - -
Total Income 33,301 - 33,301 42,998 29,000 71,998
Expenditure on:
Charitable activities 5 30,805 - 30,805 58,545 54,600 113,145
-
Total Expenditure 30,805 30,805 58,545 54,600 113,145
-
Net (Expenditure)/Income before transfers 2,496 2,496 (15,547) (25,600) (41,147)
Transfers between funds - - - - - -
-
Net (expenditure)/income for the year 2,496 2,496 (15,547) (25,600) (41,147)
Reconciliation of funds
-
Total funds brought forward 16,748 16,748 32,295 25,600 57,895
Total funds carried forward 19,244 - 19,244 16,748 - 16,748
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year and all income and expenditure derive from continuing activities.

The accompanying notes on pages 9 to 13 form an integral part of these financial statements.

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CASA THEATRE FESTIVAL LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024

Note
Current assets
Debtors
8
Cash at bank and in hand
Liabilities
Creditors falling due within one year
9
Net current assets
Net assets
The funds of the charity:
Unrestricted funds
Restricted funds
11
Total charity funds		 2024
£
-
21,750
21,750
(2,506)		 2024
£
19,244
19,244
19,244
-
19,244		 2023
£
9,650
17,657
27,307
(10,559)		 2023
£
16,748
16,748
16,748
-
16,748

For the year ending 31 December 2024 the charitable company was entitled to exemption from audit under section 477 Companies Act 2006 relating to small companies. No member of the charitable company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.

The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Board of Trustees on 11th September 2025 and signed on its behalf by:

Andrew Wood

The accompanying notes on pages 10 to 13 form an integral part of these financial statements.

Company registration no: 07284541

9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

CASA THEATRE FESTIVAL LIMITED

1 Accounting Policies

a) Basis of preparation

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), and the Companies Act 2006.

The principal accounting policies adopted in the preparation of the financial statements are set out below:

b) Going concern

The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken account of pressures on fee income. The trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future and for at least 12 months from the date of approval of these financial statements. The charitable company continues to adopt the going concern basis in preparing its financial statements.

Voluntary income and donations are accounted for on an accruals basis. All income in the Statement of Financial Activities is shown gross of the associated costs and is accounted for where there is entitlement to the income, it is probable that the benefits associated with it will flow to the charity and it can be reliably measured. Income from charitable activities is recognised as it is earned. Where amounts are billed in advance of the activity being carried out, the income is deferred. Legacy income is recognised when its amount and receipt is probable.

d) Resources expended

All expenses are accounted for on an accruals basis. Wherever possible, costs are allocated directly to the appropriate activity; other overhead, support and governance costs common to all activities are apportioned between those activities based on their relative output. Expenditure in connection with the specific objects of the charity is included under the heading 'Charitable Activities'. The irrecoverable element of VAT is included with the item of expense to which it relates.

e) Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

f) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

g) Funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

h) Taxation

The Charity is an exempt approved charity in accordance with the Income and Corporation Taxes Act 1988.

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are cased on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

2 Critical accounting estimates and areas of judgement

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

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CASA THEATRE FESTIVAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3
Donations and legacies
Donations
Appeals & donations
Donations
Appeals & donations
4
Income from Charitable Activities
Grants
Sale of goods
Grants
Arts Council of England: Casa Lab
Sale of goods
Box office takings
Producer fees
Merchandise sales
5
Total resources expended
Charitable activities:
Marketing & communication
Production costs
Staff costs
Travelling
General administration
Professional & legal		 Governance
2024
£
-
-
-
-
-
1,520
1,520		 Funds
2024
£
33,250
33,250
Funds
2023
£
33,350
33,350
Funds
2024
£
-
-
-
Funds
2023
£
-
1,150
8,348
150
9,648
Charitable
Activities
2024
£
666
-
27,925
-
694
-
29,285
Unrestricted
Unrestricted
Unrestricted
Unrestricted		 Funds
2024
£
-
-
Funds
2023
£
-
-
Funds
2024
£
-
-
-
Funds
2023
£
29,000
-
-
-
29,000
Total
2024
£
666
-
27,925
-
694
1,520
30,805
Restricted
Restricted
Restricted
Restricted		 Total
2024
£
33,250
33,250
Total
2023
£
33,350
33,350
Total
2024
£
-
-
-
Total
2023
£
29,000
1,150
8,348
150
38,648
Total
2023
£
6,587
71,963
30,327
1,500
730
2,038
113,145

The Independent Examiner's remuneration amounts to a fee of £950 for the Independent Examination (2023: £950).

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

CASA THEATRE FESTIVAL LIMITED

6
Staff Costs
Wages and salaries
Wages and salaries
Pension costs
Recruitment		 2024
£
27,100
610
215
27,925		 2023
£
29,625
702
-
30,327

The average number of staff employed during the year was 1 (2023: 1).

Key management personnel comprise the Trustees, the Festival Producer and the Artistic Director. The total employee benefits of the Key Management Personnel were £27,710 (2023: £30,327).

No employees received emoluments in excess of £60,000 (2023: nil).

7 Trustees

No remuneration was made to trustees during the year (2023: nil).

No expenses were reimbursed to trustees during the year (2023: nil).

8
Debtors
Trade debtors
Accrued Income		 2024
£
-
-
-		 2023
£
6,750
2,900
9,650

Trade debtors disclosed above are classified as loans and receivables and are therefore measured at amortised cost.

9
Creditors: amounts falling due within one year
Trade creditors
Social security and tax
Accruals
Other creditors		 2024
£
94
335
950
1,127
2,506		 2023
£
8,591
-
950
1,018
10,559

10 Related Party Transactions

An unrestricted donation of £26,600 was made to the charity by Charles Wilson, uncle of the Artistic Director (2023: £26,600). A donation to cover the salary of the Artistic Director is pledged annually, while she remains in post.

There have been no other related party transactions in the year that require disclosure.

12

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

CASA THEATRE FESTIVAL LIMITED

11[Restricted funds for the year][ - no restricted funding was received in 2024]

Restricted Funds for previous year 2023

Arts Council of England: Casa Lab
British Council: collaboration grants: Saltar		 Brought
Forward
£
-
25,600
-		 Incoming
Resources
£
29,000
-
29,000		 Resources
Expended
£
(29,000)
(25,600)
(54,600)		 Transfer from
Unrestricted
Fund
£
-
-
-		 Carried
Forward
£
-
-
-

Arts Council of England project grant to fund CASA PRESENTS, a four days takeover of Brixton House presenting cutting-edge Latinx art.

Arts Council of England project grant to support CASA Lab event at Brixton House.

British Council grant to support collaboration with Mexican artists in 2023.

12 Analysis of Net Assets between Funds

At 31 December 2024
Current assets
Creditors due within one year
At 31 December 2023
Current assets
Creditors due within one year		 2024
Unrestricted
funds
£
21,750
(2,506)
19,244
2023
Unrestricted
funds
£
27,307
(10,559)
16,748		 2024
Restricted
funds
£
-
-
-
2023
Restricted
funds
£
-
-
-		 2024
Total
funds
£
21,750
(2,506)
19,244
2023
Total
funds
£
27,307
(10,559)
16,748

13