2022-03-31-accounts

Tangle

Company Limited by Guarantee

Unaudited financial statements

For the year ended 31 March 2022

Registered in England & Wales number 07496780 Charity registration number 1161690

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Tangle Company Limited by Guarantee Unaudited financial statements

Contents

Trustees' annual report (incorporating the directors' report)	2 - 6
Independent examiner's report to the trustees	7
Statement of financial activities (including income and expenditure account)	8
Statement of financial position	9
Notes to the financial statements	10 - 17

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022

Directors’ and Trustees’ Annual Report for the year to 31 March 2022

Tangle is a Charity, registered in England number 1161690 and a Company Limited by Guarantee, registered number 07496780.

Registered and Principal Office

Prime Theatre, The Wyvern Theatre, Theatre Square, Swindon, Wiltshire SN1 1QN

Patron

Yinka Shonibare CBE (RA).

Directors and Trustees

The Directors and Trustees at the date of approval of these financial statements were: Jude Akuwudike Kofi Ohene-Djan (Chair) Christopher Rodriguez (Treasurer) Mary Wild Chloë Sylvestre

There were no appointments or resignations of Directors and Trustees during the year.

Structure, Governance and Management

Tangle was incorporated in 2011 and became a charity in 2015. It is a National Portfolio Organisation of Arts Council England.

The company is ultimately controlled by the Board of Directors and Trustees which delegates responsibility for the company’s management to the Artistic Director (Chief Executive). The Artistic Director is appointed by the Board and is accountable to them.

The Management Committee is formed of the Board of Directors and Trustees with the Artistic Director always in attendance in an ex officio capacity. Other staff attend regularly by invitation. Meetings are held at least four times a year and receive comprehensive reporting including on artistic and financial matters.

Members of the Board offer themselves up for re-election according to the terms of the Memorandum and Articles. The Chair is elected every three years at the company’s AGM. When a gap in skills or experience is identified amongst the membership of the Board the most usual process for recruiting new Board members is headhunting of potential candidates. An open call would be considered should the need arise.

Staff

The Artistic Director is responsible for line-management of all other staff.

The core staff team during the year comprised the following individuals, all of whom work part-time for the Tangle.

Anna Coombs (Artistic Director) Thomas Kell (Consultant, Producing and Finance) Ariane Oiticica (Marketing and Communications Manager) Milan Govedarica (Administrative Producer)

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Directors’ and Trustees’ Annual Report continued

The company’s work is assisted by a group of Associate Artists who deliver ad hoc work, principally to support the Artistic Director:

John Pfumojena Mark Dakin Lau Batty

Registered Office and Base

Tangle is resident at the Wyvern Theatre in Swindon, hosted by Prime Theatre which is also resident there.

Tangle works closely with Prime Theatre and with MAST Mayflower Studios in Southampton where it is an associate company.

Objectives

Tangle has been established with the charitable objective to advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama.

Activity Summary and Performance Review

During 2021-2022 the company delivered an impressive range of new and ongoing projects, upgraded its IT systems, and endeavoured to secure future funding from Arts Council England.

Supporting Global Talent

AMPLIFY is Tangle’s off-stage skills development scheme featuring mentoring and work placements. It was usefully refreshed during the year, especially through the building of a an ‘Amplify Community’. This includes industry experts who can guide AMPLIFY and its participants. AMPLIFY was chosen by Genesis Kickstart Foundation to receive a £10,000 grant which will help immeasurably to strengthen and widen this initiative.

Tangle’s formal support was crucial for two Zimbabwean artists in their desire to come to the UK on the Global Talent Scheme: Tawanda Mapanda and Takudzwa Mashonganyika. These two outstanding artists will be an asset to the sector and to Tangle and we are excited about plans to work with them in the coming years. Both artists were featured in Tangle’s digital film THE STRANGER’S CASE created for Refugee Week 2021.

Tangle Café

An event was held in April 2021, hosted by Lucian Msamati and chaired by John Pfumojena, with a recorded interview offered from the actor Cathy Tyson and three artists offering ‘bring and share’ contributions. As with previous Tangle Café online events, a significant amount of time was spent in

both organising and managing the evening. Whilst it was a success and won praise, we will now be undertaking an evaluation of the online model to consider the longer-term impact of events of this kind and appraise our objectives with online networking activities now that more physical activities are proving possible.

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Directors’ and Trustees’ Annual Report continued

Kukura

Tangle’s Kukura inclusivity programme really took off in 2021-2022 with three organisations piloting the methodology: Pegasus Theatre, Oxford; Mayflower, Southampton; MAST Mayflower Studios, Southampton. Each received a carefully curated set of opportunities to talk, to listen and to reflect, led by Tangle freelancers of diverse heritages. Kukura seeks to establish long-term change and has been valued by participant organisations as a crucial tool to affect long term change around embedding and actioning equality and inclusivity awareness.

“The Kukura sessions supported the developing confidence of newer, younger members of staff to contribute to discussions about the organisation.”

“Having a consistent space over several months to discuss, and reflect on, our organisation's progress in relation to race, diversity, inclusion and representation kept staff engaged with challenges. Individual targets helped turn reflection into action. Tangle staff, both in sessions and in administration, were attentive, flexible and responsive.” Pegasus Theatre Oxford

“The Kukura programme has been incredibly helpful to MAST. We have been able to explore with our leadership team our understanding and focus on diversity throughout our organisation. Kukura gives space to ask questions, share experiences and devise actions, it is invaluable to us in achieving the change we want to see.” Sara Scott, Executive Director, MAST Mayflower Studios

The programme is charged-for and Tangle has been able to achieve a small surplus on sales, which has been ploughed into the company’s creative programme.

Following the Kukura work with the inaugural partners, Tangle will assess the programme thoroughly and intends to offer it to more partner organisations.

Supporting our Sector

Tangle is a valued member of the wider theatre and performance sector and makes a positive contribution to the work of many other organisations and for a. Tangle continues to have a positive dialogue with Stage Sight and has links to other sector support organisations. The Artistic Director serves on the National Theatre’s Technical Theatre forum, UK Theatre’s Anti-Racism and Inclusion working group, and national forum What Next?

Swindon

Tangle’s ‘home’ in Swindon is an ACE ‘priority place’ and a new cultural quarter has been commissioned for 2027. Building up our profile, network and connections is a strategic imperative. Tangle is, with Prime, establishing a bigger activity programme in Swindon, participates in in crucial fora (including with the local authority) around the cultural quarter and has included a raft of proposals for Swindon in applications to ACE.

Richard The Second

Tangle’s next major production will be a new adaptation by Anna Coombs of Shakespeare’s Richard The Second. This will be created and toured between mid-September and late November 2022.

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Directors’ and Trustees’ Annual Report continued

During 2021-2022 important pre-production activity took place:

• recruitment of MAST Mayflower Studios as an associate producer, financial investor and host for tech week and opening;

• extensive R&D activity to develop design and music concepts and, through a three-day residency at MAST involving five actors, a through testing of the script;

• booking of a three-week tour in the south west and a three-week London run.

• conceptualisation of an accompanying participation project for young people SEIZE THE CROWN;

• planning for a Discovery Pack to assist educators;

• fundraising including a successful bid to Cockayne / London Community Foundation (£10,000).

Volpone Playtext

Volpone was produced and published as a physical book showcasing the play-text, songs and photographs from the show. The book has received praise and we have sold a number of copies to people both known and new to Tangle. Building on this success we hope to publish the adapted text of Richard the Second as part of our show offer.

Arts Council England

During the early part of the year the company learned it had been unsuccessful in its application for a project grant for new touring productions. Whilst frustrating the process had helped to develop a future artistic programme for the company spanning theatre and opera genres.

Tangle applied for the extension year of NPO offered by ACE and, through submission of a comprehensive Business Plan generated with the help of Trustees and Directors, was successful in gaining funding for 2022-2023. This enabled it to confirm the plans for the autumn 2022 touring production.

Towards the end of the period staff members had begun to write the application for ACE NPO funding for 2023-2026. Attaining this funding would be crucial to the company’s long-term survival.

Amidst the various funding matters the Artistic Director and Trustees invested time in bolstering Tangle’s general relationship with Arts Council England. This has informed the decision to apply for an Uplift in NPO funding from 2023.

Management and Finance

Tangle’s position as an Arts Council England NPO provides security and stability.

Tangle delivered a surplus of £15,560 at the end of the 2021-2022 financial year. This will be invested into future programmes as part of the company’s multi-year planning cycle.

Reserves and Reserves Policy

At 31 March 2022, Tangle had £90,2458 in unrestricted reserves ( £74,688 at 31 March 2021 ).

The company operates a reserves policy which requires the maintenance of a Designated Continency fund (within unrestricted reserves) to the ongoing value of £10,000. Plans to increase this were placed on hold due to the uncertain outlook for Trusts and Foundations fundraising and the need to preserve substantial financial resources to support a major forthcoming production (Richard The Second) in autumn 2022.

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Directors’ and Trustees’ Annual Report continued

Financial Planning, Risk Management and Future Outlook (Going Concern)

Overall financial health is considered on a regular basis by the management team. Projections and management accounts are submitted to the Board every quarter and receive particular attention from a Board sub-committee. Financial risks are considered in terms of severity and likelihood. The Trustees required Officers to prepare plans to ameliorate adverse situations.

Tangle’s Trustees believe that the charity will continue to be a going concern at least for the period of 12 months from the date of signature of this report.

This judgement is primarily founded on the healthy level of Reserves, operating costs continuing to being constrained (including through the use of online working models) and successful efforts to diversify funding sources. At the time of preparing these accounts Tangle’s funding from ACE is assured until 31 March 2023. As previously mentioned, an application has been submitted to continue ACE funding from that point. In the informed judgement of Trustees, that bid stands a good chance of being successful at least at the current level of funding.

The outcome of the bid for NPO funding from 1 April 2023 onwards will be known by the end of October 2022, according to ACE’s published timetable. In the event that this bid fails the company will take steps to secure its short-term survival beyond 31 March 2023. Actions include a potential slimming of the staffing pool, which represents a major overhead for Tangle. Preparation for this have already been taken as three quarters of the staff team have fixed-term contracts until December 2022 or March 2023. Tangle expects to have Reserves in place at 31 March 2023 to provide for a minimal level of operations for at least three months after that date without taking any remedial action. With efforts to slim costs and intense efforts to secure other funding the company would, theoretically, be able to survive – financially at least – the loss of NPO funding for the first two quarters of 2023-2024. Hence the Trustees are able to affirm going concern status, founded on available information (Reserves) and available options to save costs if required. At the time of writing Tangle has no major commitments beyond those associated with the production of Richard the Second (i.e. there is no other activity committed to after 31 March 2023).

The Directors’ and Trustees’ Annual Report was approved on 7 September 2022 and signed on behalf of the Board of Directors and Trustees by:

Kofi Ohene-Djan Director and Trustee

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Independent Examiner’s report to the Trustees of Tangle for the year ended 31 March 2022

I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 8 to 17.

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. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

• examine the accounts under section 145 of the 2011 Act

• follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act

• state whether particular matters have come to my attention.

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 you as 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 next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

• 1 which gives me reasonable cause to believe that in any material respect the requirements:

• to keep accounting records in accordance with section 386 of the Companies Act 2006 and

• to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities SORP (FRS 102)

• have not been met, or

• 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Charles Barker-Benfield FCA

Independent Examiner for and on behalf of

Morchard Bishop & Co.

Chartered Accountants 4 Dene Walk Lower Bourne Farnham GU10 3PL

• 30 September 2022

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Statement of Financial Activities (including income and expenditure account) for the year ended 31 March 2022

Note Income and endowments Charitable activities 4 Total income Expenditure Expenditure on charitable activities 5, 6 Total expenditure Interest and similar income 8 Profit before taxation Taxation credit 9 Net income and net movement in funds Reconciliation of funds Total funds brought forward Transfer of funds Total funds carried forward 15	2022 2022 2022 2021 2021 Restricted funds Unrestricted funds Total funds Unrestricted funds Total funds £ £ £ £ £ 6,500 103,603 110,103 128,304 128,304 6,500 103,603 110,103 128,304 128,304 (8,746) (85,797) (94,543) (76,185) (76,185) (8,746) (85,797) (94,543) (76,185) (76,185) - - - - - (2,246) 17,806 15,560 52,119 52,119 - - - - - (2,246) 17,806 15,560 52,119 52,119 - 74,688 74,688 22,569 22,569 2,246 (2,246) - - - - 90,248 90,248 74,688 74,688	2022 2022 2022 2021 2021 Restricted funds Unrestricted funds Total funds Unrestricted funds Total funds £ £ £ £ £ 6,500 103,603 110,103 128,304 128,304 6,500 103,603 110,103 128,304 128,304 (8,746) (85,797) (94,543) (76,185) (76,185) (8,746) (85,797) (94,543) (76,185) (76,185) - - - - - (2,246) 17,806 15,560 52,119 52,119 - - - - - (2,246) 17,806 15,560 52,119 52,119 - 74,688 74,688 22,569 22,569 2,246 (2,246) - - - - 90,248 90,248 74,688 74,688
		128,304
		(76,185)
		(76,185)
		-
		52,119 -
		52,119
		22,569 -
		74,688

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

The notes on pages 10 to 17 form part of these financial statements.

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Statement of Financial Position at 31 March 2022 Note Fixed assets Intangible assets 10 Tangible assets 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand Creditors:amounts falling due within one year 14 Net current assets Total assets less current liabilities Net assets Funds of the charity Designated contingency fund Other unrestricted funds Total unrestricted funds Total charity funds 15	2022 £ 1,513 1 1,514 250 741 116,623 117,614 (28 ,880) 88,734 90,248 90,248 10,000 80,248 90,248 90,248	2021 £ 3,025 317 3,342 250 504 78,665 79,419 (8,073) 71,346 74,688 74,688 10,000 64,688 74,688 74,688

For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees’ responsibilities:

• the members have not required the charity to obtain an audit of its financial statements for the year in accordance with section 476

• the trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements

• these financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with FRS 102 SORP.

The financial statements were approved by the board of directors and trustees on 7 September 2022 and were signed on its behalf by:

Kofi Ohene-Djan

Director and Trustee

The notes on pages 10 to 17 form part of these financial statements

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes

(forming part of the financial statements)

1 General information

The charity is registered in England and Wales under number 1161690 and is a private company limited by guarantee, incorporated in England and Wales with registration number 07496780. The address of its registered office is c/o Prime Theatre, The Wyvern Theatre, Theatre Square, Swindon, Wiltshire SN1 1QN.

2.1 Statement of compliance

The financial statements have been prepared in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland’, The Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and with the Companies Act 2006 and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

2.2 Going concern

For the year ended 31 March 2022 the company had a surplus after tax of £15,560 (2021: surplus £52,119) . At 31 March 2022 the company had net current assets of £88,734 (2021: net current assets of £71,346) and net assets of £90,248 (2021: net assets of £74,688) . The directors have prepared the accounts on a going concern basis as the company has the financial support of the members, who are also directors, and additionally is in receipt of ongoing NPO funding from Arts Council England.

3 Summary of significant accounting policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company’s financial statements.

Basis of preparation

The financial statements have been prepared under the historical cost convention and in compliance with FRS 102, Charities SORP (FRS 102), the Companies Act 2006 and the Charities Act 2011.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.

Designated funds are unrestricted funds earmarked by the trustees for specific future projects or commitments.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity, it is more likely than not that the economic benefits associated with the transaction will flow to the charity and its amount can reliably be measured. The following policies are applied to specific categories of income:

• Grants, donations, and legacy income are included in the statement of financial activities when the above income recognition criteria are met.

• Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised when received if the value can reliably be measured. No amounts are included for the contribution of general volunteers.

• Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes (continued)

3 Summary of significant accounting policies (continued)

Resources expended

Expenditure is recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates:

• Expenditure on raising funds includes the cost of all fundraising activities, events, non-charitable trading activities and the sale of donated goods.

• Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries including those support costs and costs relating to the governance of the charity which have been apportioned to charitable activities.

• Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure activities reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities to which they contribute on a reasonable, justifiable, and consistent basis.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice and include costs of the preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Irrecoverable VAT is included with the cost of the relevant item reported.

Intangible fixed assets and amortisation

Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives, as follows:

Website development - 3.5 years

Costs that are directly attributable to the design and testing of identifiable and unique website developments controlled by the company are recognised as intangible assets when the following criteria are met:

• it is technically feasible to complete the development so that it will be available for use;

• the directors intend to complete the development and use it;

• there is an ability to use the website development;

• it can be demonstrated how the website development will generate probable future economic benefits;

• adequate technical, financial, and other resources to complete the development work and to use it are available; and

• the expenditure attributable to the development can reliably be measured.

Tangible fixed assets and depreciation

Tangible fixed assets are capitalised if they can be used for more than one year. Depreciation is provided to write off the cost or valuation of an asset, less its estimated residual value, over its estimated useful economic life as follows:

Equipment, fixtures, and fittings – 25% straight line

Computer equipment – 33.3% straight line

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes (continued)

3 Summary of significant accounting policies (continued)

Stocks

Stocks of production materials and equipment, including properties and short-life sound and lighting equipment, are valued at the lower of cost and net realisable value.

Financial instruments

Basic financial instruments comprise debtors and creditors, initially recognised at the amount receivable or payable including any related trade discounts and transaction costs, and subsequently measured at the cash or other consideration expected to be received or paid and not discounted.

Taxation

As a registered charity, the company is normally exempt from corporation tax. However, the company claims Theatre Tax Relief (TTR) on qualifying productions and recognises amounts recoverable on claims calculated for the relevant year.

4 Charitable activities

	Restricted	Unrestricted	Total funds	Unrestricted	Total funds
	funds	funds		funds
	2022	2022	2022	2021	2021
	£	£	£	£	£
Subscriptions	-	572	572	878	878
Arts Council England NPO grant	-	102,858	102,858	102,858	102,858
Arts Council England emergency grant	-	-	-	23,317	23,317
Fees for performances and workshop events	3,500	160	3,660	850	850
Trust / Foundation income	3,000	-	3,000	-	-
Gift aid	-	13	13	401	401
	6,500	103,603	110,103	128,304	128,304

5 Expenditure on charitable activities by fund type

		Restricted	Unrestricted	Total funds	Unrestricted	Total funds
		funds	funds		funds
		2022	2022	2022	2021	2021
		£	£	£	£	£
Touring	productions, workshops, training, strategic
research,	research & development, and fundraising	8,746	85,797	94,543	76,185	76,185

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes (continued)

6 Expenditure on charitable activities by activity type

6 Expenditure on charitable activities by activity type
	Activities	Total funds	Total funds
	undertaken
	directly
	2022	2022	2021
	£	£	£
Fundraising	11,002	11,002	13,290
Touring productions, workshops, training, strategic research, and research &
development	83,541	83,541	62,895
Total	94,543	94,543	76,185

Fundraising: a proportion of the Artistic Director / Chief Executive’s remuneration has been allocated to fundraising, in recognition of the increasing demands of this element of her responsibilities within her overall workload.

7 Trustee remuneration and expenses

There was no trustee remuneration and no trustee claimed reimbursement of expenses (2021: none) .

8 Interest receivable

Interest receivable is as follows: Other interest receivable 9 Taxation Theatre tax relief recoverable	2022 £ - 2022 £ -	2021 £ -
		2021 £ -

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes(continued)
10 Intangible fixed assets
	Other intangible
	assets
	£
Cost
At beginning and end of year	5,168
Amortisation
At beginning of year	2,143
Charge for year	1,512
At end of year	3,655
Net book value
At 31 March 2022	1,513
At 31 March 2021	3,025

11 Tangible fixed assets: property, plant, and equipment
	Equipment,
	fixtures & fittings
	£
Cost
At beginning and end of year	1,215
Depreciation
At beginning of year	898
Charge for year	316
At end of year	1,214
Net book value
At 31 March 2022	1
At 31 March 2021	317

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Notes(continued) 12 Stocks Production properties, sound, and lighting stocks 13 Debtors Prepayments and accrued income All debtors fall due within one year. 14 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Taxation and social security Other creditors	Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780 2022 2021 £ £ 250 250 2022 2021 £ £ 741 504 2022 2021 £ £ 5,993 3,825 20,490 1,574 2,084 2,419 313 255 28,880 8,073	Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780 2022 2021 £ £ 250 250 2022 2021 £ £ 741 504 2022 2021 £ £ 5,993 3,825 20,490 1,574 2,084 2,419 313 255 28,880 8,073
		2021 £ 504
		2021 £ 3,825 1,574 2,419 255 8,073

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes (continued)

15 Analysis of charitable funds

At 1 April 2021 Income and recoverable tax Expenditur e Transfer between funds £ £ £ £ General funds (unrestricted) 74,688 103,603 (85,797) (2,246) Restricted income funds - 6,500 (8,746) 2,246 Total funds 74,688 110,103 (94,543) - At 1 April 2021 Profit/(loss) for year Transfer between funds Designated as contingency £ £ £ £ Held as ordinary funds 64,688 17,806 (2,246) - Held as restricted funds - (2,246) 2,246 - Held as designated contingency 10,000 - - - Total general funds (unrestricted) 74,688 15,560 - -

At 31 March 2022 £ 90,248 - 90,248 At 31 March 2022 £ 80,248 - 10,000 90,248

16 Donated services

There were no services donated to the company in 2022 or 2021.

17 Related party disclosures

There were no related party disclosures in 2022 or 2021.

18 Staff numbers

There was an average equivalent to 2 full time staff employed by the company in 2022 (2021: 1) .

19 Pension scheme

The company maintains a defined contribution auto enrolment pension scheme for eligible staff. The employer pension contributions made during the year totalled £983 (2021: £930) . Unpaid contributions totalling £313 were included with Other creditors outstanding at 31[st] March 2022 (2021: £255) .

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Tangle Company Limited by Guarantee Unaudited financial statements 31 March 2022 Registered number 07496780

Notes (continued)

20 Remuneration of key management

Fees paid to senior management (comprising the Artistic Director and the Consultant Producer for the year to 31 March 2021 totalled £51,751 (2021: £47,971) .

21 Accountancy and independent examiner’s fees

Fees payable to the independent examiner were as follows:

Fees payable to the independent examiner were as follows:
Independent examiner’s fees for accounts preparation Independent examiner’s fees for reporting on the accounts	2022 £ 690 600 1,290	2021 £ 600 600
		1,200

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