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2025-07-31-accounts

REGISTERED COMPANY NUMBER: 05572204 (England and Wales) REGISTERED CHARITY NUMBER: 1158681

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025

FOR

MANASAMITRA LIMITED

MANASAMITRA LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17

MANASAMITRA LIMITED

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period ended 31 July 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Manasamitra's ambitious work, rooted in classical Indian traditions, is inspired by an intercultural vision which merges the best musicianship, vocals, dance and storytelling from diverse cultures, into dynamic artistic collaborations. These collaborations respect and challenge the ideas, forms and aesthetics of each genre whilst producing performances representative of the artistically rich, melting point world we are privileged to inhabit.

These include classical Carnatic concerts; individual, cross discipline, artist to artist collaborations; small ensemble productions; whole company/intercompany shows; and inter/national performances. Manasamitra is privileged to work with cross-genre artists of inter/national repute.

The company's mission is clear; to be brave enough to produce excellent artistically and commercially successful performances which explore, explain and entertain audiences; doing so by travelling to unfamiliar territory and crossing artistic boundaries whilst maintaining artistic integrity and telling stories relevant to many cultures and peoples.

As a producing company, Manasamitra is strongly committed to creating new, quality productions and bringing innovative audience/participant experiences to venues inter/nationally. The company champions and encourages social cohesion as it performs in premium venues, theatres, festivals, cathedrals and community spaces and by delivering community based workshops/educational sessions in schools.

Public benefit

The trustees have complied with their duty under section 17 (5) of the Charities Act 2011 to pay due regard to Charity Commission guidance concerning public benefit in deciding what activities the charity should undertake.

Equal Opportunities Statement

Diversity/Equal Opportunities in all its formats is vitally important in the day to day work of Manasamitra and is core to its vision. We celebrate and value the diversity of individuals and do not discriminate on the grounds of race, faith, disability, gender, sexuality, age or any other. As the cultural landscape around us shifts we recognise the benefits to be gained by utilising the potential and strengths in all social groups.

As an arts organisation we fully understand the need to have a cultural diversity/equal opportunity approach at the root of our working practices and principles and we have in place an Equal Opportunities Policy, Diversity Policy and a Cultural Diversity Action Plan to be reviewed and developed this year.

In our work we try wherever possible to ensure that our artists and staff are representative of the community within which we operate. We support emerging artists from diverse communities wherever possible and practical.

All individuals involved with Manasamitra and using its services are expected to adhere to Manasamitra's Equal Opportunities Policy and Diversity policy and to ensure that their activities reflect this commitment.

Page 1

MANASAMITRA LIMITED REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2025

ACHIEVEMENT AND PERFORMANCE

Charitable activities

2024-25 has been a year of change for Manasamitra. Although we had some successful commissions and also received ACE funding for the “Waterfall of Kites” project, due to lack on ongoing revenue it was decided at an Extraordinary AGM on 28 December 2024, that the charity would downsize and several options were considered.

After a lot of deliberation, the trustees decided to make the existing two employees (General Manager and Artistic Director) redundant and for the charity to become dormant until any suitable projects or opportunities arise. Artistic Director Supriya Nagarajan continues to engage with the company on a voluntary basis for the foreseeable future.

On 31st March 2025, the company offices at Dewsbury Business Centre were vacated, staff made redundant, and the assets sold or donated.

It was decided to extend the accounting period until the end of July so as to receive the final instalment of funding from ACE for the Waterfall of Kites project and settle the outstanding bills.

FINANCIAL REVIEW

Financial Review and Reserves

The income for the financial year was £69,687 (2024: £111,698) and expenditure was £95,200 (2024: £108,551). The expenditure included the employee redundancy costs. This resulted in an overall decrease in the charity's reserves of £25,513 (2024: surplus of £3,147). The general reserves were at the year end were in deficit by £1,508 (2024: £24,005 reserves held).

The reserves deficit has been rectified since the year end, with additional income allowing the trustees to settle all the charity debts.

FUTURE PLANS

The trustees expect that Manasamitra will stay dormant for the foreseeable future, unless any suitable projects arise.

Page 2

MANASAMITRA LIMITED REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The company was established on 23 September 2005 as a not for profit company limited by guarantee, becoming a registered charity on 25 September 2014. As a charitable company the governing document is the Memorandum and Articles of Association.

Recruitment and appointment of new trustees

Trustees are recruited by the existing trustees and management. The trustees have an ongoing commitment to seeking out individuals who could strengthen the board by bringing complementary skills to the team. New trustees are given an induction into the aims and objects of the charity and training on the roles and responsibilities of trustees. The training needs of the trustees are continually evaluated by the board and skills gaps within the board are regularly reviewed.

Organisational structure

Manasamitra no longer employs any staff. Decisions as to the future of the charity will be taken by the Board of Trustees.

Volunteers & supporters

We would like to express our sincere thanks to all of our staff, commissioners and supporters for their hard work throughout the year. We are very grateful for their time and support.

Risk management

A risk assessment is carried out by the trustees each year. The risk assessment identifies the major risks faced by the charity and reviews the systems and procedures in place to manage those risks.

Page 3

MANASAMITRA LIMITED REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 JULY 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05572204 (England and Wales)

Registered Charity number

1158681

Registered office

8 Birkdale Road Dewsbury West Yorkshire WF13 4HH

Trustees

A Bowman - Chairperson

S Nagarajan K Padmanabhan P Hema S Manohar D Leary

Independent Examiner

Laura Brain FCA 4 Windermere Rise Bailiff Bridge Brighouse West Yorkshire HD6 4FH

Approved by order of the board of trustees on 11 March 2026 and signed on its behalf by:

A Bowman - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MANASAMITRA LIMITED

Independent examiner's report to the trustees of Manasamitra Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period ended 31 July 2025.

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:

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

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

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

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

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.

Laura Brain FCA 4 Windermere Rise Bailiff Bridge Brighouse West Yorkshire HD6 4FH

11 March 2026

Page 5

MANASAMITRA LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
10,000
Charitable activities
4
Performances & workshops
23,917
Mentoring
-
Investment income
3
390
Total
34,307
EXPENDITURE ON
Charitable activities
Performances & workshops
57,570
Mentoring
-
Total
57,570
NET INCOME/(EXPENDITURE)
(23,263)
Transfers between funds
12
-
Net movement in funds
(23,263)
RECONCILIATION OF FUNDS
Total funds brought forward
21,755
TOTAL FUNDS CARRIED FORWARD
(1,508)		 Period ended Year ended
31/7/25
31/3/24
Restricted
Total
Total
funds
funds
funds
£
£
£
-
10,000
65
35,380
59,297
111,254
-
-
-
-
390
379
35,380
69,687
111,698
37,630
95,200
108,551
-
-
-
37,630
95,200
108,551
(2,250)
(25,513)
3,147
-
-
-
(2,250)
(25,513)
3,147
2,250
24,005
20,858
-
(1,508)
24,005

The notes form part of these financial statements

Page 6

MANASAMITRA LIMITED BALANCE SHEET

31 JULY 2025

Unrestricted
Restricted
fund
funds
Notes
£
£
FIXED ASSETS
Tangible assets
9
-
-
CURRENT ASSETS
Debtors
10
-
-
Cash at bank and in hand
1,173
-
1,173
-
CREDITORS
Amounts falling due within one year
11
(2,681)
-
NET CURRENT ASSETS
(1,508)
-
TOTAL ASSETS LESS CURRENT LIABILITIES
(1,508)
-
NET ASSETS
(1,508)
-
FUNDS
12
Unrestricted funds
Restricted funds:
Terrarium
Culture on your doorstep
TOTAL FUNDS		 2025
Total
funds
£
-
-
1,173
1,173
(2,681)
(1,508)
(1,508)
(1,508)
(1,508)
-
-
(1,508)
(1,508)		 2024
Total
funds
£
839
12,269
19,681
31,950
(8,784)
23,166
24,005
24,005
21,755
-
2,250
2,250
24,005

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 7

MANASAMITRA LIMITED BALANCE SHEET - continued 31 JULY 2025

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

The financial statements were approved by the Board of Trustees and authorised for issue on 11 March 2026 and were signed on its behalf by:

A Bowman - Trustee

The notes form part of these financial statements

Page 8

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JULY 2025

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

continued...

Page 9

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

1. ACCOUNTING POLICIES - continued

PENSION COSTS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Performance & workshop
income
Performances & workshops
Other income & recharges Performances & workshops
Grants
Performances & workshops
Grants received, included in the above, are as follows:
Arts Council England
Kirklees Metropolitan Council
Calderdale Council
WeAreIVE		 2025
£
10,000
2025
£
390
2025
£
22,699
1,218
35,380
59,297
2025
£
29,950
-
5,430
-
35,380



2024
£
65
2024
£
379
60,000

continued...

Page 10

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging:

Net income/(expenditure) is stated after charging:
2025 2024
£ £
Depreciation - owned assets 239 281
Other operating leases 1,673 643

6. TRUSTEES' REMUNERATION AND BENEFITS

During the year Mrs S Nagarajan, wife of Dr S Nagarajan, Trustee, received remuneration of £20,819 (2024: £15,176) and pension contributions of £7,754 (2024: £10,041) and was reimbursed expenses totalling £2,547 (2024: £3,656). The charity satisfied the conditions laid out in Section 185(2) of the Charities Act 2011 for the remuneration and expenses to be paid out of the funds of the charity.

During the year Lucy Nolan (wife of Mr D Leary, trustee) received artists fees of £1,864 (2024: £3,500) for work on various projects. The transactions were on an arm’s length basis and for the benefit of the charity.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the period ended 31 July 2025 nor for the year ended 31 March 2024.

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

Management and Artistic
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
65
Charitable activities
Performances & workshops
51,254
Investment income
379
Total
51,698		 2025
2
Restricted
funds
£
-
60,000
-
60,000		 2024
2
Total
funds
£
65
111,254
379
111,698

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 11

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

EXPENDITURE ON
Unrestricted
funds
£
Charitable activities
Performances & workshops
50,801
Mentoring
-
Total expenditure
50,801
NET INCOME/(EXPENDITURE)
897
Transfers between funds
(33)
Net movement in funds
864
RECONCILIATION OF FUNDS
Total funds brought forward
20,891
TOTAL FUNDS CARRIED FORWARD
21,755
9.
TANGIBLE FIXED ASSETS
COST
At 1 April 2024
Disposal
At 31 July 2025
DEPRECIATION
At 1 April 2024
Disposal
At 31 July 2025
NET BOOK VALUE
At 31 July 2025
At 31 March 2024		 Restricted
funds
£
57,750
-
57,750
2,250
33
2,283
(33)
2,250		 Total
funds
£
108,551
-
108,551
3,147
-
3,147
20,858
24,005
Fixtures
and
fittings
£
4,798
(4,798)
-
3,959
(3,959)
-
-
839

continued...

Page 12

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
-
Prepayments and accrued income
-
-
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade creditors
-
Credit card
-
Social security and other taxes
(160)
Pension creditor
-
Net wages
2,091
Accruals and deferred income
750
2,681
12.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.4.24
in funds
funds
£
£
£
Unrestricted funds
General fund
21,755
(23,263)
-
Restricted funds
Waterfall of kites
-
-
-
Culture on your doorstep
2,250
(2,250)
-
2,250
(2,250)
-
TOTAL FUNDS
24,005
(25,513)
-		 2024
£
5,673
6,596
12,269
2024
£
870
146
257
931
-
6,580
8,784
At
31.7.25
£
(1,508)
-
-
-
(1,508)

The reserves deficit has been rectified since the year end, with additional income having been received which allowed the trustees to settle all the charity debts.

continued...

Page 13

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Waterfall of Kites
Culture on your doorstep
TOTAL FUNDS		 Movement
Income
Expenditure
in funds
£
£
£
34,307
(57,570)
(23,263)
35,380
(35,380)
-
-
(2,250)
(2,250)
69,687
(95,200)
(25,513)

Waterfall of Kites was a project jointly funded by Arts Council and Calderdale Council within which workshops in the community were delivered and a soundscape created. A central kite sculpture was commissioned, and the installation was located at Halifax Minster in Feb/March 2025.

The Culture on your doorstep schools project, running throughout 2023, was an EVOKE project, funded by IVE, a now-defunded Arts Council England Bridge Organisation. Manasamitra was acting as fund-holder for this project and was the project manager and main creative lead.

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Terrarium
Culture on your doorstep
TOTAL FUNDS		 Net
Transfers
movement
between
At 1.4.23
in funds
funds
£
£
£
20,891
897
(33)
(33)
-
33
-
2,250
-
(33)
2,250
33
20,858
3,147
-		 At
31.3.24
£
21,755
-
2,250
2,250
24,005

Page 14 continued...

MANASAMITRA LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD ENDED 31 JULY 2025

12. MOVEMENT IN FUNDS - continued

Unrestricted funds
General fund
Restricted funds
Festival of Conversations
Culture on your doorstep
TOTAL FUNDS		 Movement
Income
Expenditure
in funds
£
£
£
51,698
(50,801)
897
40,000
(40,000)
-
20,000
(17,750)
2,250
60,000
(57,750)
2,250
111,698
(108,551)
3,147

Terrarium was delivered in 2022, culminating in a performance of MELTWATER. This was an Arts Council England funded project with match funding from Kirklees Council through the Festival of Conversations and 'in-kind' support from Kirklees Libraries.

The Culture on your doorstep schools project, running throughout 2023, was an EVOKE project, funded by IVE, a now-defunded Arts Council England Bridge Organisation. Manasamitra acted as fund-holder for this project and is the project manager and main creative lead.

13. RELATED PARTY DISCLOSURES

There were no related party transactions in the year, except as disclosed in note 6.

14. COMPANY LIMITED BY GUARANTEE

Manasamitra Limited is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such an amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

Page 15

MANASAMITRA LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations including gift aid
Investment income
Deposit account interest
Charitable activities
Performance & workshop income
Other income & recharges
Grants
Total income
EXPENDITURE
Charitable activities
Wages
Pensions
Production costs
Artist fees
Management fees
Travel
Postage and stationery
Advertising
Sundries
Consultancy fees
Support costs
Management
Rent
Property service charges
Insurance
Repairs & maintenance
Telephone
Carried forward		 2025

£
10,000
390
22,699
1,218
35,380
59,297
69,687
38,506
7,980
6,929
16,110
1,050
2,619
-
2,222
300
1,750
77,466
1,673
721
791
150
669		 2024
£
65
379
51,052
202
60,000
111,254
111,698
30,280
10,575
5,487
26,662
567
3,577
29
6,929
239
6,900
91,245
643
1,856
756
75
1,244		 2024
£
65
379
51,052
202
60,000
111,254
111,698
30,280
10,575
5,487
26,662
567
3,577
29
6,929
239
6,900
91,245
643
1,856
756
75
1,244
4,004 4,574

This page does not form part of the statutory financial statements

Page 16

MANASAMITRA LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JULY 2025

Management
Brought forward
Postage & stationery
Website and promotion
Travelling expenses
Computer costs
Sundry expenses
Depreciation of fixtures, fittings &
equipment
Finance
Bank charges
Governance costs
Independent examination, payroll and
legal fees
Total expenditure
Net (expenditure)/income		 2025
£
4,004
81
5,855
4,865
102
399
239
15,545
112
112
2,077
95,200
(25,513)		 2024
£
4,574
121
5,725
4,383
-
303
281
15,387
92
92
1,827
108,551
3,147

This page does not form part of the statutory financial statements

Page 17