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 perfOrman￿S, 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 t￿0
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 re￿iVed 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 re￿iVed 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 re￿iVed 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
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ly
IJ
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IT
P•iP4th
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18