Registered Company Number . 510482 (England and Wales) Registered Charity Number '. 219947 Report of the Trustees and Unaudited Financial Statements for the year ended 31st July 2025 for TAVISTOCK REPERTORY GUARANTORS LTD
TAVISTOCK REPERTORY GUARANTORS LTD. Contents of the Flnanclal Statements for the Year ended 31st July 2025 Pages Report of the Trustees 3to6 Report ofthe Independent Examiner Statement of Financial Activities Balance sheet 9-10 Notes to the Financial Statements 11to18
TAVISTOCK REPERTORY GUARANTORS LTD Report of the Trustees (including Directors, Report) for the year ended 31st 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 year ended 31 July 2025. Tavistock Repertory Guaranlors Limited was incorporated as a company limited by guarantee on 11 Augusl 1952. OBJECTIVES AND ACTIVITIES Objectlves and Alms The charity's objects are specifically restricted to the following.. {1) To promote, maintain. improve, disseminate and advan education of the public, particularly in the production of educational plays, and olher stage presentations and the encouragement of the dramatic arts and other arts. including the arts of drama, mime, dance, singing and music: (2) To give opportunity for persons interested in the fields of dramatic and musical theatre to participate, whether on or off stage, in theatrical productions of high quality,. and to formulate prepare and establish schemes for the aforesaid objects provided that all objerts of the Company shall be of a charitable nature. In shaping our objectives for the year and planning our activities, Ihe directors have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. Actlvltles Undertaken to Further the Charlty's Purposes for the Publlc Benefit The main activities undertaken are as follows.. Community Theatre This activity includes the producing and receiving of theatre shows in our 120 seat theatre and our 50 seat studio. Skills Development We provide opportunities for all to gain skills in producing theatre shows including.. direction, stage management, set design, costume design, lighting and sound. We have a youth work-experience scheme. Venue Operation We provide a cultural centre for the local community as well as rehearsal and perfomiance spaces for a wide variety of professional and community uses. Achlevement and Performance The principal activily of the company is organising and presenting theatrical perfomiances under the trading name of the Tower Theatre Company. The activities of the company have been funded by surpluses on theatrical perfOrmanS, operating a bar, membership fees. hire of facilities and donations made by supporters.
TAVISTOCK REPERTORY GUARANTORS LTD Report of the Trustees (including Directors, Report) for the year ended 31st July 2025 In 2024 12025 we have produced a full calendar of productions. Our audiences are ontinuing to grow as we establish ourselves within the Stoke Newington community, invest in marketing and awareness of our activities grows. We continue to hire theatre and rehearsal facilities to other companies and we welcomed several visiting productions. All the aclivities of the company are carried on by volunleers (note 61, except for one member of staff who is Theatre Manager and two part time marketing managers and t0 part time bar managers. The majority of the company's funds are held in a deposit account and a low-risk portfolio of shares, bonds and cash managed by Rathbone Investment Managemenl Ltd. The directors consider the results achieved and the stste of affairs during the year which is the subject of this report to be satisfactory. FINANCIAL REVIEW The results for the year are shown in the statement of financial activities reported on page 8. Net movement in total funds after gainsllosses on investments amount to net income £22,251 12024.. £190,846). Of the total. the net movement in unrestricted funds after gains on investments amount to net income of £22,251 12024= net income £189,146). There was no restricted funds income this year12024.' £1,700). Detail is provided in Note 18 to the accounts. Realised and unrealised gains on investments are £15,373 {2024'. £17.912). There are tangible fixed assets valued at £2,594,32512024'. £2,496,306}. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The charily is controlled by its governing document - its Articles of Association and is a company limited by guarantee, as defined by the Companies Act 2006. The Articles of Association were updated and revised in 2015 with further minor revisions in 2019, both to comply with the Charity Commissioners, guidelines and to reflect certain changes in Ihe operation and management oflhe Company. Related Parties Payments were made to the directors (or persons connected to them) only by way of reimbursement of expenses incurred on behalf of the company. Remuneration was paid to one trustee for providing Theatre Manager services. No other trustees received any remuneration during the year.
TAVISTOCK REPERTORY GUARANTORS LTD Report of the Trustees (including Directors, Report) for the year ended 31st July 2025 Payment was made in the year to the son and daughter of a director in both cases for bar lending. Risk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees believe the business, with its limited fixed costs due to its largely volunteer workforce, is strong. The board of directors manages risk through.. Reviewing financial performance Ihroughoul the year Reviewing suitability of insurance cover annually Requiring dual authorisation on expenditure Appointing a health and safely officer Maintaining sufficient reserves Reserves Policy The company aims to maintain liquid reserves in bank deposits and investments of at least £150,000. Legal Status of Charity The company is limited by guarantee and does not have a share capilal. At the year-end there were 505 members ofthe company, each ofwhom has undertaken to contribute up to £1 in the event of the liquidation of the company. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 0510482 (England & Wales) Registered Charity number 219947 Registered office 16 Northwold Road London N16 7HR Directors and Trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers seNing during the year and since the year-end were as follows.. Mr M. Mulgrew- Appointed 27 January 2025 Mr R. Ellis- Resigned 29, October 2024 Ms O. Belo- Resigned 14 October 2024 Ms S. Burbidge Ms J. Chalk {chair)
TAVISTOCK REPERTORY GUARANTORS LTD Report of the Trustees (Includlng Director5, Report) for the year ended 31st July 2025 Mr N. Insley- resigned 9th June 2025 Mr S. Ley Ms S. Ley- appointed 14, October 2024 hAs J. Nevin - Resigned dth August 2024 Mr R. Pedersen - Resigned 24" October 2024 Mr L. Tuerk - Appointed 14th October 2024, Resigned 26 September 2025 Mr M. Ibbotson - Appointed 14 Odober 2024 Company SeGretsry Ms A M Watchom - Appointed 14 October 2024 Independent Examlner Nick Paladina, FCA Creative Tax Reliefs Suile 8, Wesl Lancashire Inveslment Centre Maple View, White Moss Business Park Skelmersdale WN8 9TG EVENTS SINCE THE BALANCE SHEET DATE There have been no event5 5inGe the balanGe sheet date thal malerially affect this position. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatinq to small companies. Approved by order of the board of trustees on . by: 2025 and signed on its behalf Date=
Independent Examiner's Report to the Trustees of Tavistock Repertory Guarantors Ltd. I report lo the charity trustees on my examination of the accounts of the Company set out on pages 8 to 18 for the year ended 31" July 2025. Responsibilities and basis of report As the charily's Irustees of the Company land also its directors for Ihe 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'l. Having satisfied myself that the accounts of the Company are nol required lo be audiled under Part 16 of the 2006 AGt 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 20111'the 2011 Act'}- In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 (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- 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 wilh 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 'lrue and fair, view which is nol a matter considered as part of an independent examinalion; or 4. the accounts have nol been prepared in accordance with the methods and principles of the Stslement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 10211. 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 understan f the accounts to be reached. Signed= Nick Paladina, FCA Creative Tax Reliefs Suite 8. West Lancashire Investment Centre Maple View, White Moss Business Park Skelmersdale WN8 9TG Date.. 7 October 2025
TAVISTOCK REPERTORY GUARANTORS LTD Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31" July 2025 Unr•strict•d Rèstrictad Endowm•nt Total Funds Fund Fund Fund 2025 Total Funds 2024 Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Other trading activities Investment Income 46,903 168,849 118,517 12,839 347,109 46,903 168,849 118,517 12,839 347,109 215,736 131,791 100,981 10,181 458,689 Total EXPENDITURE ON Charitable activities Other 255,472 84,759 340,231 255,472 84,759 340,231 225,149 60,606 285,755 Total Net gainslllossesl on investments NET INCOME 15,373 22,251 15,373 22,251 17,912 190,846 RECONCILIATION OF FUNDS Total funds brought forward 3,149,760 1,7(KJ 3,151,460 2,960,614 TOTAL FUNDS CARRIED FORWARD 3,172,011 1,7 3,173,711 3,151,460 CONTINUING OPERATIONS The slalemenl of financial activilies includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The notes on pages 11 18 form part of these financial statements
TAVISTOCK REPERTORY GUARANTORS LTD Balance Sheet At 31st July 2025 Notes 2025 2024 FIXED ASSETS Investments Tangible assets 425,893 401,113 2,594,325 2,496,306 3,020,218 2,897,418 14 CURRENT ASSETS Stocks Debtors and prepayments Cash at bank 75 16 2,308 23,040 139,593 164,941 4,652 20,154 242,761 267,567 CREDITORS Amounts falling due within one year 17 -11,448 -13,525 NET CURRENT ASSETS 153,493 254,042 TOTAL ASSETS LESS CURRENT LIABILITIES 3,173,711 3,151,460 NET ASSETS 3,173,711 3,151,460 FUNDS Unrestricted funds Restricted funds Endowment funds 18 3.172.011 3,149,760 1,700 1,700 TOTAL FUNDS 3,173,711 3,151,460 The charitable company is entitled to exempiion from audit under Section 477 of the Companies Act 2006 for the year ended 31, July 2025. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31, July 2025 in accordance with Section 476 ofthe Companies Act 2006. The trustees acknowledge their responsibilities for.. al ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and bl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes on pages 11 18 form part of these financial statements
TAVISTOCK REPERTORY GUARANTORS LTD Balance Sheet At 31st July 2025 These financial statements have been prepared in accordance with the special provisions of Part 15 of the GoTnpanies AGt 2006 relatsng Io small GhariLable GOTnpanie5. 2g'*r The financial statements were approved by the Board of Trustees on .... .... ........... and were signed on its behalf by: 2025 ee The notes on pages 11 18 fomi part Df these financial statements 10
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 1 ACCOUNTING POLICIES Basis of preparation The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with Ihe Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) leffeclive 1, January 20151, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the Companies Act 2006. The financial slatemenls have been prepared under the historical cost convention with the exception of investments whiGh are included at markel value, as modified by the revaluation of certain assets. The financial ststements have been prepared in accordance with the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16107114, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notels}. Income All incoming resources are included on the Statement of Financial Artivities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Expenditure Expenditure is accounted for on an accruals basis and has been Glassified 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 the cost less estimated residual value of each asset over its estimated useful life. Freehold buildings Fixtures and fittings Machinery and equipment Computer equipment -2 % on cost -10°/o on cost -20°/0 on cost -20010 on cost Taxatlon The charity is exempt from corporation tax on its charitable activities.
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Reslricted funds can only be used for particular restricted purposes within the objecls 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. 2 DONATIONS During the year the company received £46,903 in donations and legacies Unrestricted Restricted Endowment Total Funds Fund Fund Fund 2025 Total Funds 2024 Gift aid donations Other donations Legacies 2,668 664 43,571 46,903 2,668 664 43,571 46,903 5.777 1,524 208,435 215,736 3 ACTIVITIES FOR GENERATING FUNDS Notes 2025 2024 Income from theatre produclions Theatre Tax Credits Youth Theatre grants and income 200 Club Subscriptions other income 22 140,434 25.595 104,450 22,835 1,770 1,177 1,559 131,791 1,536 1,284 168,849 OTHER TRADING ACTIVITIES 2025 2024 Membership fees Bar income Hires and sub-lets 31,540 60,367 26,610 118,517 30.190 41,022 29,769 100,981 12
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 5 INVESTMENT INCOME 2025 2024 Deposit account interest Dividend income 2,409 10,430 12,839 1,075 9,106 10,181 The company's cash reserves are invested in short-temi bank deposit accounts 6 VOLUNTEER TIME Apart from one theatre manager and part time marketing and bar staff, Ihe company is managed entirely by volunleers. This year. the value of time given by volunteers to manage the company is estimated at £60,000. 7 COSTS OF CHARITABLE ACTIVITIES Note Unrestricted Expenditure Restricted Total Expenditure Expenditure 2025 Total Expenditure 2024 Direct costs of theatre productions Youth theatre costs staff costs Insurance Printing and communications Rent Rates Light, heat and water Brokerage charges Depreciation Bank and rArd charges Household 200 Club Prizes & Expenses Fundraising and other expenses 45,914 45,914 23,679 2,460 55,984 4,963 13,963 22,725 2,450 17,895 970 65,475 3,602 10,013 773 197 225,149 11 49,489 5,165 24,235 25,353 2,833 21,789 1,023 61,969 6,066 10,643 518 475 255,472 49,489 5,165 24,235 25,353 2,833 21,789 1,023 61,969 6,066 10,643 518 475 255,472 13
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 OTHER EXPENDITURE 2025 2024 Legal and professional fees Irrecoverable VAT Repairs and maintenance Facilities management and marketing Bar stock, management and casual staff Independent examiner's fee 4,009 13,251 26,628 2,732 3,137 8,000 21,633 1,200 37,239 900 84,759 25,736 900 60,606 NET INCOMEI(EXPENDITURE) Net resources are stated after chargingllcrediling).. 2025 2024 Depreciation - owned assets 61,969 65,475 10 TRUSTEES, REMUNERATION AND BENEFITS Trustees, Remuneration In the year ended 31 st July 2025 no trustees reiVed payment for their services as trustees. Remuneration was paid to one Iruslee, Nick Insley, who received £18,587 {2024.' £nill in the year, as salary and pension contributions, for providing Theatre Manager services. No other Iruslees received any remuneralion during the year. Payment of £11412024.. £511 } was made in the year to the son of a director,. payment of £482 (2024.. £363) was made in the year to the daughter of a director, in both cases for bar tending. The company provides trustee indemnity insurance for the trustees. No trustee reiVed any other benefits for the year ended 31st July 2025. Trustees Expenses During the year six trustees were reimbursed for expenses incurred by them on behalf of the charity. Reimbursernents amounted to £4,62312024= £3,374) and were for production costs, building maintenance and equipment purchases. 14
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 11 STAFF COSTS The 8ver8ge monthly number of employees during the year was as follows.. 2025 2024 Administrative staff No employee reiVed emoluments in excess of £60,000. 2025 48,422 470 597 2024 56,370 -763 377 Wages and salaries Social security Costs l (rebate) Pension schemes Total staff costs 49,489 55,984 12 INDEPENDENT EXAMINERS REMUNERATION 2025 2024 Independent Examination Fee Tax Advisory Services Total 900 900 3,000 3,900 2,800 3,700 13 FIXED ASSET INVESTMENTS Investments MARKET VALUE As at 1st August 2024 Additions Disposals Revaluations Cash movement As at 31st July 2025 401,112 24,784 425,893 NET BOOK VALUE At 31 st July 2025 425,893 At 31st July 2024 401,112 15
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 14 TANGIBLE FIXED ASSETS Fixtures and Fittings Machinery and Equipment Compuler Equipment Land and Buildings Total OPENING BOOK VALUE At 31 sl July 2024 9,062 2,393,512 82,756 10,976 2,496,306 ADDITIONS Additions in year 14 157,613 630 1,731 159,988 DEPRECIATION Charge for year -2,601 40,510 -14,625 -4,231 -61,969 NET BOOK VALUE At 31st July 2025 6,475 2,510,615 68,761 8,474 2,594,325 15 STOCKS 2025 2024 Bar stock 2.308 2.308 4,652 4,652 16 DEBTORS (AMOUNTS FALLING DUE WITHIN ONE YEAR) AND PREPAYMENTS 2025 2024 Gift Aid repayment from HMRC Pre-paid royalties Accrued Income Other prepayment 1.376 14,755 4,899 2.010 23,040 857 14,993 4,304 20,154 17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals and deferred income VAT Payroll liabilities Pre-paid box office income Third party box office 6,771 2,416 1,603 658 3,235 1,812 111 306 8,061 13,525 11,448 16
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Financial Statements for the Year Ended 315t July 2025 18 MOVEMENT IN FUNDS Balance at 31 July Net movement in 2024 funds Balance at 1 August 2025 Unrestricted fund Restricted fund Endowment fund TOTAL FUNDS 3.149.760 1,700 22,251 3.172.011 1,700 3,151,460 22,251 3,173,711 Net movement in funds, included in the above, are as follows .' Incoming resources Resources expended Gains and losses Movement In funds Unrestricted fund Restricted fund Endowment fund TOTAL FUNDS 347,109 -340,231 15,373 22,251 347,109 -340,231 15,373 22,251 The restricted fund consists of donations from Candida Doyle to support the Company's work to support black female voices. 19 RELATED PARTY DISCLOSURES No director or other person related to the charity has any personal interest in any contract or transaction entered into by the charity during the year other than as detailed in Note 10 to the accounts. 20 POST BALANCE SHEET EVENTS There have been no events since the balance sheet which materially affect the assets ofthe company. 21 COMPANY LIMITED BY GUARANTEE The company is limited by guarantee and does not have a share capital. There are 553 members of the Company, each of whom has undertaken to contribute up to £1 in the event of the liquidation of the Company. 17
TAVISTOCK REPERTORY GUARANTORS LTD Notes to the Flnanclal Statements for the Year Ended 315t July 2025 22 PRODUCTION DETAIL WIP4m LTIL ly IJ WT 1T r z4 1.* 4JM IT P•iP4th T1 18