**Company number 02059664 Charity number 295547**
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Report and Consolidated Financial Statements**
**for the year ended 31 March 2022**
**Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH**
## **Tara Arts Group**
## **(Limited by Guarantee)**
|**Contents**||
|---|---|
||**Page**|
|Reference and Administrative Details|1|
|Trustees' Report|2 - 8|
|Auditors' Report|9 - 11|
|Consolidated Statement of Financial Activities|12 - 13|
|Consolidated and Charity Balance Sheets|14|
|Consolidated Cash Flow Statement|15|
|Charity Cash Flow Statement|16|
|Notes to the Consolidated Financial Statements|17 - 31|
|Appendix to the accounts||
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Reference and Administrative Details**
## **Constitution**
The charitable Group Company is a Private Company limited by guarantee registered in EW - England & Wales, Company number 02059664, incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The Company is a registered charity, number 295547.
## **Directors and trustees**
The directors of the charitable Group Company (Tara Arts Group) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. As set out in the Articles of Association membership of the Company is open irrespective of political party, nationality, religious opinion, sex, race or colour to full members and group members. Full members are the subscribers and all persons who the management committee shall from time to time admit to membership.
The Trustees during the year and since the year end, were:
Ajay Chhabra appointed 20 September 2021 Anthony Clark resigned 30 July 2021 Anu Giri Andrew Given Javid Hamid appointed 6 December 2021 Neha Jain Helen Jeffreys Lisa Logan appointed 26 September 2022 Sunita Pandya (Chair) Sagar Shah
## **Chief Executives (day to day management)**
Helen Jeffreys, Executive Director Abdul Shayek, Artistic Director
## **Auditors**
Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.
## **Bankers**
Lloyds Bank Plc, 399 Oxford Street, London W1R 2BU.
## **Solicitors**
Harbottle & Lewis, 7 Savoy Court, London WC2R 0EX.
## **Registered office and operation address**
356 Garratt Lane, London SW18 4ES .
## **Name**
“Tara Theatre” is the name used by Tara Arts Group and its trading subsidiaries Tara Productions Limited and Tara Arts Enterprises Limited.
1
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
The Trustees present their report together with the consolidated financial statements of the charity and its subsidiaries for the year ended 31 March 2022 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).
## **Structure, Governance and Management**
The charity is governed by a Board of Trustees, each appointed initially for a term of three years, which is renewable.
The Board meets at least four times a year to consider the affairs of the Company. Trustees are appointed by a combination of recommendation from within the industry and public advertisements. On appointment, they receive a briefing from the Chief Executives, the Company's policies and upcoming programmes and the statutory duties of Trustees.
The Board delegates day-to-day responsibility for the affairs of the Company in the person of the Chief Executives. They furnish the Board and its sub-committees, Finance Committee and Fundraising Committee, with quarterly reports on the performance of the Company.
The Company is principally supported by Arts Council England, as a revenue client on a fixed-term franchise. Arts Council England's current funding agreement for Tara Theatre runs until March 2026.
In 2021-22 Tara Theatre's income was made up of: Arts Council England 59%, Earned Income 3% (box office, fees and commissions & Theatre Tax Relief), Trading Income 2% and Fundraising 36% (donations, trusts and statutory organisations).
In 2020-21 the Company had 7 full-time and 1 part-time staff, 63% of whom identified as Asian, Black and ethnically diverse and 88% of whom identified as female.
All major risks have been reviewed and systems and procedures have been established to manage those risks. The main risk to the Company, in line with other subsidised companies in the theatre sector, stems from core funding being withdrawn. Arts Council England has confirmed funding to 2026.
Tara Theatre produces and presents an artistic programme of excellence that amplifies South Asian voices, communities and creative practitioners. We create hyper-local, national and globally connected theatre which explores new voices, narratives and forms. We are a leading voice in advocating and effecting change to address a lack of diversity and representation within the UK theatre sector.
The charity is committed to providing best organisational and HR practices. We have in place equality and diversity, environmental, health and safety, training and development policies and action plans. Tara Theatre offers flexible, hybrid and part-time working options and has trained mental health first aiders on the staff team.
2
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
Under the Reserves Policy Tara Theatre maintains a general reserve to protect the charity against fluctuations in trading income, funding and donations. Tara Theatre reviewed its Reserves Policy in November 2022, taking into account current operating costs and risks associated with income required to deliver business planning objectives. The Trustees will work towards maintaining a general reserve of £138,099, equivalent to three months current administration, building and staffing costs.
The charity has two trading subsidiaries: Tara Productions Limited and Tara Enterprises Limited. Trading surpluses achieved are transferred back to the main charity.
Both the trading subsidiaries and target Reserves Policy go toward ensuring the Company remains legally compliant and financially resilient over the longer-term.
Our current Board has significant experience in executive arts leadership, fundraising, finance, legal, artistic leadership and communications. We have established a finance sub-committee and a fundraising sub-committee to focus on key areas of governance. The Board and Executive have clear monitoring and evaluation procedures to evaluate the delivery of the objectives and financial stability of the organisation.
## **Relationships with other Connected Charities**
There were no relationships with other connected charities during the year under review.
## **Charitable Objectives**
The charity was established in 1977 to promote, maintain and advance public education particularly by the production of Asian cultural, Asian origin or Asian influenced plays and the encouragement of the Arts. This is represented in the charity's artistic mission for 2021-22:
_Tara Theatre's vision is for a world where equity and social justice is the new normal. We are the beating creative heart of our communities, exploring the world through a South Asian lens. We make politically charged innovative theatre which creates ripples from the hyper-local to the global. We embed ourselves in local communities identifying new narratives, new ideas and new artists._
## **Objectives and Activities for the Public Benefit**
In shaping their objectives for the year and planning their activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'Public Benefit: running a charity (PB2)'.
The Trustees' focus over the course of the year has been the reopening of the theatre following the closures due to COVID-19, implementation of the new business and financial plan and development of the first season under the new artistic leadership, beginning in June 2021.
Since its inception, Tara Theatre has occupied the political and activist space. We continue to promote social change and inclusion through telling stories from the unique lens of South Asian experiences and heritage. In today's world, with the global pandemic, climate emergency and the Black Lives Matter movement, things urgently need to change.
3
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
_"We understand our sector and society is in the midst of challenging times. We will rise to this challenge. We will seize this moment of opportunity to listen to the needs of our sector, our community, our audiences, our artists and we will support and nourish them."_
## **Abdul Shayek, Artistic Director**
With a new financial, business and artistic model we have created a contemporary and democratic space; the centre of a community of artists (including emerging talents, professional artists and community artists) and audiences in South Wandsworth and beyond. Tara Theatre is a catalyst and agent for change within the national theatre landscape, addressing the widespread lack of diversity and inclusivity and changing our sector. Our work explores the complexities of our world through a South Asian lens, championing South Asian voices and artists, identifying new narratives, new ideas and new forms.
After a period of consultation and listening we launched the new Tara Theatre in Spring 2021, which included a rebrand, new website and the announcement of a new season of work Disproportionately Affected.
We have increased access to and participation in our work for our communities of audiences, participants and co-creators.
Highlights over the year include:
- 5 co-created productions with 13 local residents and 81 elder women from diaspora communities in Leeds, Manchester, Walsall, Kings Cross.
- Co-created productions with 21 young people, 76% from global majority backgrounds.
- 56% of audiences from global majority backgrounds, 45% of total audiences from South Asian backgrounds.
We are committed to supporting South Asian practitioners to begin and build sustainable careers. In autumn 2021 we ran an artist consultation programme, The Listening Space, to understand their needs and inform the planning of our national artist development programme. We consulted 119 artists and freelance practitioners, 77% global majority backgrounds, 64% South Asian backgrounds. We have since:
- Commissioned 25 writers of whom 22 are South Asian.
- Secured £60k in funding to engage two female South Asian Artistic Associates to develop artistic leadership skills and experience in a producing theatre.
- Delivered Cultivate and Change Your Lens, a season of cross-discipline paid artist development opportunities reaching 84 artists, 87% global majority, 79% South Asian.
- Engaged 157 freelance creatives, performers and production teams, 82% global majority backgrounds, 65% South Asian backgrounds.
We are making an impact on the sector with our Artistic Director sitting on 16 national panels, 5 international panels and 6 grant making panels. He is part of the organising committee of ISPA 2023 and Horizons Edinburgh International Showcase.
Our recent partners include: Touchstone Sikh Elders Service (Leeds), Ananna (Manchester), Witton Road Ladies (Walsall), Donmar Warehouse, BBC Radio 4, Project Dastaan (India), National Theatre Immersive Storytelling Studio, Britto Arts (Dhaka), Royal Docks, London Borough of Newham, Without Walls, Greenwich and Docklands International Festival.
4
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **The Listening Space**
The Listening Space was a major consultation programme, delivered with the support of Paul Hamlyn Foundation. The programme included a series of consultation workshops with artists and freelancers, a consultation with senior South Asian leaders in the arts sector and fundraising support surgeries and seminars for artists and practitioners.
The Listening Space identified the following issues to address for South Asian artists: lack of a network of South Asian artists and practitioners; dearth of mentoring and leadership development opportunities; insufficient opportunities for South Asian artists - inadequate in scale and scope; opacity of commissioning structures; the need for support in connecting with/approaching gatekeepers; and support with fundraising for projects.
## **Disproportionately Affected**
We reopened Tara Theatre and opened the first season with an original performance co- created by local young people with writer Guleraana Mir and director Natasha Kathi-Chandra. Beyond Lockdown put the voices of Year 9 students from Southfields Academy centre stage with their stories, hopes and the change they want to see. The prospects of our young people have been disproportionately affected by the pandemic; Beyond Lockdown was a powerful work inspired by the past year. Part reflection and part call to action, it was a joyful exploration of the here and now and imagining of the future.
For the second production in the season, 2020, Tara Theatre commissioned twelve writers across England and from India, China and the US to write monologues responding to the challenges of 2020 and 2021, from a perspective hyper-local to them. The twelve pieces were presented in three collections of four, each with a different director.
The commissioned writers were: Hassan Abdulrazzak; Shahid Iqbal Khan; Amina Atiq; Erinn Dhesi; Reginald Edmund; Hanif Kureishi; Asif Khan; Yuqun Fan; Abhishek Majumdar; Sumerah Srivastav; Sonali Bhattacharyya and Shreya Sen-Handley.The pieces were directed by Gitika Buttoo, Pooja Ghai, Iqbal Khan and Abdul Shayek.
The final production in the Disproportionately Affected season, Final Farewell, was created in collaboration with our local Wandsworth community. Writer Sudha Bhuchar crafted first person stories of local people lost to, or during, the COVID-19 pandemic by speaking and listening to memories and accounts from their loved ones. Directed by Abdul Shayek, the final piece was an audio performance with audiences taking a walking tour around Wandsworth. Final Farewell was a moving theatrical experience culminating in an installation event in the main house at Tara Theatre.
During the reopening season we commissioned 14 writers, employed 28 freelance artists and 22 freelance production staff. We worked with over 20 local participants as co-creators. 80% of people we worked with are from Asian, Black or ethnically diverse backgrounds.
## **Embrace the Space**
Embrace the Space focused primarily on artist and audience development activity and included:
## **Cultivate:**
A series of workshops and in conversation events with leading artists and practitioners including Atiha Sen Gupta, Nish Kumar, Vinay Patel, Pooja Ghai, Amaka Okafor and Balvinder Sopal.
5
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **Change Your Lens:**
A week-long lab giving ten artists the opportunity to engage in a programme aimed at supporting the development of individual creative practice. The artists were chosen through a process of submission of interest followed by random selection of ten names.
## **Bangladesh 50 Season**
## **Dawaat**
Dawaat was a site-specific outdoor production with poetry, performance, live music and the sharing of food performed in Queen's Market, Newham, Devonshire Square, Tower Hamlets and at Tara Theatre. The piece explored home, identity and migration and was devised and created in response to conversations with Bangladeshi women in Birmingham, Manchester, Walsall and London.
The production was free to Newham residents, produced in partnership with LB Newham, Royal Docks and GLA's Let's Do London. We reached 404 people across all three sites, 75% South Asian backgrounds, 83% global majority backgrounds.
## **Artists Make Space**
A major international collaboration, pairing seven Bangladesh based artists and seven UK artists to co-create new exploratory works. Artists Make Space was commissioned by the British Council and led by Tara Theatre in partnership with Britto Arts Trust in Dhaka. The artists' specialties spanned art forms including playwriting, visual art, music, poetry and film. The final exhibition was shown at Tara Theatre, Birmingham Rep and Contact Theatre, Manchester before moving to Dhaka, Sylhet and Chittagong in Bangladesh.
## **Other work**
## **Final Farewell on Tour**
We revived our critically acclaimed production, Final Farewell touring to Greenwich and Docklands International Festival, Hat Fair, Certain Blacks and Brighton Festival. The tour was commissioned by Without Walls in partnership with GDIF.
## **Silence**
A co-production with the Donmar Warehouse, based on Kavita Puri's book and BBC Radio 4 series Partition Voices. Silence is a new play adapted from the testimonies and stories of people who lived through partition by Sonali Bhattacharyya, Gurpreet Kaur Bhatti, Ishy Din, and Alexandra Wood.
## **Tara Theatre Young Company**
Our Streets was a co-creation theatre project that engaged 12 young female and non-binary people aged 14-18 in the borough of Wandsworth with the processes of Urbanism. Over 12 weeks the young people had space to discuss, reflect on and express their feelings about their experiences as young women and non-binary people navigating and occupying public spaces in London, and specifically Wandsworth. The project culminated in performances at Tara Theatre.
We engaged the group with the local council city planning and consultation teams, so that their voices were heard by local decision makers and they could start shaping a legacy for the project. In particular, the content and outcome of the performance has become instrumental in Wandsworth's 'Nighttime Strategy'.
6
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **Constellations Artist Development**
Constellations is a national artist development programme supported by Foyle Foundation and Noel Coward Foundation. Early career artists are given paid masterclasses and research and development space and time to generate work supported by dedicated producers.
## **Spoken Space**
Spoken Space is our quarterly evening of spoken word, music and monologues which features curated as well as open mic performances from a range of artists.
## **Financial Review**
The Company made a surplus in the year of £109,190. Total unrestricted general funds carried forward were £145,411, £571,502 in unrestricted fixed assets and £102,720 in unrestricted designated funds while £2,677,284 was carried forward in restricted funds. Of restricted funds £2,583,787 is held as fixed assets.
The Board continued to exercise due diligence over the financial transactions of the charity in the year under review.
The charity's principal funding source remains Arts Council England. Its subsidy in the current year enabled the charity to achieve its principal objectives.
It has been Board policy to review the fixed assets on a regular basis (at least biennially) principally for impairment purposes. Tara Theatre owns the freehold asset of the charity's base at 356 Garratt Lane, London, SW18 4ES. Accordingly, this is reflected in the accounts. Arts Council England has taken a Legal Charge over the property in respect of its investment in the capital project.
In the year under review, the company's income was from the following sources: 59% Arts Council England 5% Earned income
36% Contributed income (donations, trusts and statutory organisations)
We were awarded revenue grants from Garfield Weston Foundation, Oak Foundation, Esmée Fairbairn Foundation and project grants from National Heritage Lottery Fund, Genesis Foundation, Foyle Foundation, Maria Bjornson Memorial Fund, London Community Fund, Wandsworth Grant Fund, D'Oyly Carte Charitable Trust, Noel Coward Foundation, 29th May 1961 Charitable Trust, Teale Trust and L & Q Foundation.
Ian Parlane continued in a freelance role as Head of Finance until February 2021 after which Hilary Walls took over the freelance role. Helen Jeffreys continued in the role of Executive Director and Joint Chief Executive.
## **Plans for Future Periods**
In 2022-2023 the charity plans to:
- Develop a new business plan and artistic programme to build a resilient and sustainable future for Tara Arts.
- Champion South Asian artists and be a leading voice in furthering diversity and representation in the arts.
- Build collaborative relationships with local, national and international partners and communities.
7
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Trustees' Report**
## **Statement of Trustees' Responsibilities**
The trustees (who are also directors of Tara Arts Group for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair review of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## In so far as the trustees are aware:
- there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charitable company's auditor is unaware; and
- the trustees, having made enquiries of fellow directors and the charitable company's auditor that they ought to have individually taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Small company exemptions**
This report is prepared in accordance with the Provisons of the companies Act 2006 relating to small companies.
This report was approved by the Board of Trustees on 19 December 2022 and signed on its behalf by
JS PANDYA (Dec 19, 2022 12:16 GMT)
**Sunita Pandya Chair of the Board of Trustees**
8
## **Independent Auditors' Report to the Members of Tara Arts Group**
## **Opinion**
We have audited the financial statements of Tara Arts Group (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **In our opinion the financial statements:**
- give a true and fair view of the state of the group's and parent's charitable company's affairs as at 31 March 2022, and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's or parent charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
9
## **Independent Auditors' Report to the Members of Tara Arts Group**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report (incorporating the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies' regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement set out on page 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
10
## **Independent Auditors' Report to the Members of Tara Arts Group**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:.
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the parent charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charitable company and the parent charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Mr Richard Nelson FCCA (Senior Statutory Auditor) For and on behalf of Breckman & Company Ltd**
## **Statutory Auditors Chartered Certified Accountants**
49 South Molton Street London W1K 5LH
19 December 2022
11
## **Tara Arts Group and its Subsidiaries (Limited by Guarantee)**
## **Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2022**
|**General**
**Deisgnated**
**Restricted**
**funds**
**funds**
**funds**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
**2**
Donations and legacies
**3**
678,153
-
-
Charitable activities:
Theatre
**4**
26,856
-
167,400
Other trading activities:
Commercial trading operations
**5**
22,303
-
-
**Total**
727,312
-
167,400
**Expenditure on:**
Raising funds:
Commercial trading operations
**6**
4,796
-
-
Charitable activities:
Theatre
**7**
621,368
50,000
109,358
**Total**
626,164
50,000
109,358
**Net income carried forward**
101,148
)
(50,000
58,042|**2022**
**Total**
**£**
678,153
194,256
22,303
894,712
4,796
780,726
785,522
109,190|**General**
**Deisgnated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
379,789
50,000
-
336
-
43,886
2,058
-
-
382,183
50,000
43,886
3,153
-
-
333,490
12,203
27,431
336,643
12,203
27,431
45,540
37,797
16,455|**2021**
**Total**
**£**
429,789
44,222
2,058|
|---|---|---|---|
||||476,069|
||||3,153
373,124|
||||376,277|
||||99,792|
12
## **Tara Arts Group and its Subsidiaries (Limited by Guarantee)**
## **Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2022**
|**General**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**Notes**
**£**
**£**
**£**
**Net income brought forward**
101,148
)
(50,000
58,042
Transfers between funds
**19, 20**
)
(63,459
90,654
)
(27,195
**Net movement in funds**
**8**
37,689
40,654
30,847
**Reconciliation of funds:**
**Total funds brought forward**
107,722
633,568
2,646,437
**Total funds carried forward**
**19, 20**
145,411
674,222
2,677,284|**2022**
**Total**
**£**
109,190
-
109,190
3,387,727
3,496,917|**General**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**£**
**£**
**£**
45,540
37,797
16,455
27,195
-
)
(27,195
72,735
37,797
)
(10,740
34,987
595,771
2,657,177
107,722
633,568
2,646,437|**2021**
**Total**
**£**
99,792
-|
|---|---|---|---|
||||99,792
3,287,935|
||||3,387,727|
The notes on pages 17 to 31 form an integral part of these financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
13
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Consolidated and Charity Balance Sheet 31 March 2022**
|**Notes**
**Fixed assets:**
Tangible assets
**13**
Investments
**14**
**Current assets:**
Debtors
**16**
Cash at bank and in hand
**Liabilities:**
Creditors: amounts falling
due within one year
**17**
**Net current assets**
**Total assets less current**
**liabilities**
**The funds of the charity:**
General funds
Designated funds
**Total unrestricted funds**
**19**
Restricted income funds
**20**
**Total charity funds**|**2022**
**Group**
**£**
3,155,289
-
3,155,289
127,399
304,563
431,962
)
(90,334
341,628
3,496,917
145,411
674,222
819,633
2,677,284
3,496,917|**2021**
**Group**
**£**
3,194,550
-
3,194,550
8,464
204,761
213,225
)
(20,048
193,177
3,387,727
107,722
633,568
741,290
2,646,437
3,387,727|**2022**
**2021**
**Charity**
**Charity**
**£**
**£**
3,155,289
3,194,550
2
2
3,155,291
3,194,552
128,040
8,585
303,920
204,638
431,960
213,223
)
(90,334
)
(20,048
341,626
193,175
3,496,917
3,387,727
145,411
107,722
674,222
633,568
819,633
741,290
2,677,284
2,646,437
3,496,917
3,387,727|
|---|---|---|---|
The Trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the Company.
The financial statements were approved by the Board of Trustees on 19 December 2022 and signed on its behalf by
JS PANDYA (Dec 19, 2022 12:16 GMT) **Sunita Pandya Chair of the Board of Trustees**
HM Jeffreys HM Jeffreys (Dec 20, 2022 09:56 GMT) **Helen Jeffreys Trustee**
The notes on pages 17 to 31 form an integral part of these financial statements.
14
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Consolidated Cash Flow Statement**
**for the year ended 31 March 2022**
|**Notes**
**Cash flows from group operating activities**
**22**
**Cash flows from group investing activities:**
Purchase of property, plant and equipment
**Net cash provided by group investment activities**
Change in cash at bank and in hand in the reporting period
Cash at bank and in hand at the beginning of the reporting
period
**Group cash at bank and in hand at the end of the reporting**
**period**|**2022**
**£**
101,402
)
(1,600
)
(1,600
99,802
204,761
304,563|**2021**
**£**
141,748
)
(3,065
)
(3,065
138,683
66,078
204,761|
|---|---|---|
15
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Charity Cash Flow Statement for the year ended 31 March 2022**
|**Notes**
**Cash flows from charity operating activities**
**22**
**Cash flows from charity investing activities:**
Purchase of property, plant and equipment
**Net cash provided by charity investment activities**
Change in cash at bank and in hand in the reporting period
Cash at bank and in hand at the beginning of the reporting
period
**Charity cash at bank and in hand at the end of the reporting**
**period**|**2022**
**£**
100,882
)
(1,600
)
(1,600
99,282
204,638
303,920|**2021**
**£**
141,848
)
(3,065
)
(3,065
138,783
65,855
204,638|
|---|---|---|
16
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **1. Accounting policies**
## **1.1. Basis of preparing the financial statements**
The group financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued October 2019) 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) - (Charities SORP (FRS 102)) and the Companies Act 2006.
The charitable group company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **1.2. Group financial statements**
The financial statements consolidate the results of the parent charity and its wholly owned subsidiaries Tara Productions Limited and Tara Enterprises Limited on a line-by-line basis. A separate Statement of Financial Activities and income and expenditure account for the parent charity has not been presented because the charity has taken advantage of the exemption afforded by Section 408 of the Companies Act 2006.
## **1.3. Preparation of the accounts on a going concern basis.**
The charitable group company is dependent on the continued support of grant aiding bodies. The trustees believe that the company will continue to receive this support and accordingly consider that it is appropriate to prepare the financial statemente on the going concern basis.
## **1.4. Incoming resources**
All incoming resources are included in the Statement of Financial Activities when:
- the parent charity (or its subsidiaries) are legally entitled to the funds
- any performance conditions attached to the income have been met or are fully within the control of the charity (or its subsidiary)
- there is sufficient certainty that receipt of the income is considered probable
- the amount can be reliably measured
## **- Donations and legacies**
Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:
- when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
- when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
17
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **- Charitable activities**
Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.
Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
## **- Investment income**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **- Commercial trading activities**
Income from commercial activities is included in incoming resources in the period in which the group is entitled to receipt.
## **1.5. Expenditure**
All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:
- there is a legal or constructive obligation to make a payment
- it is probable that settlement will be required
- the amount of the obligation can be measured reliably
## **- Costs of raising funds**
Costs incurred in attracting donations, and those incurred in trading activities that raise funds, including those of the subsidiary.
## **- Charitable activities**
Theatre production costs - costs incurred in production and running of productions toured in the year.
## **- Support costs**
The administrative and overhead costs associated with running the office from which the group operates as well as governance costs. Support costs are wholly attributable to theatre production costs.
## **- Governance costs**
Costs associated with the constitutional and statutory requirements of the group.
18
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **1.6. Fund accounting**
Funds held by the group and parent charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the parent 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 consolidated financial statements.
## **1.7. Tangible fixed assets and depreciation**
Individual fixed assets costing £500 or more are capitalised at cost.
Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Freehold land/buildings 1% on straight line - Studio fixtures/fittings 33.3% on reducing balance - Theatre fixtures/fittings 10% on straight line - Office equipment 20% on reducing balance
## **1.8. Investments**
Fixed asset investments are stated at cost less provision for diminution in value.
## **1.9. Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of and trade discounts due.
## **1.10. Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.11. Creditors and provisions**
Creditors and provisions are recognised where the group and parent charity have a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.12. Pensions**
The charitable group company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.
19
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **1.13. Financial Instruments**
The group and parent charity only have financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.
## **1.14. Significant Accounting Estimates and Judgements**
In determining the carrying amounts of certain assets and liabilities, the group and parent charity make assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The group and parent charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.
## **2. Incoming resources**
The total incoming resources for the year has been derived from the principal activity undertaken wholly in the UK.
|**3.**
**Income from donations and legacies**
**Grants**
ACE funding
Other revenue funding
**Donations**
Individual/sundry
**4.**
**Income from charitable activities**
**Theatre income**
Box office/fees
Project specific funding
**5.**
**Income from other trading activities**
**Commercial trading operations**
Bar/hire income|**2022**
**£**
529,136
146,854
675,990
2,163
678,153
**2022**
**£**
26,856
167,400
194,256
**2022**
**£**
22,303|**2021**
**£**
287,662
139,768|
|---|---|---|
|||427,430
2,359|
|||429,789|
|||**2021**
**£**
336
43,886|
|||44,222|
|||**2021**
**£**
2,058|
20
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
|**6.**
**Expenditure on raising funds**
**Commercial trading operations**
Bar/hire costs
**7.**
**Expenditure on charitable activities**
**Theatre**
**Production costs**
Direct theatrical/production costs
Support costs (see below)
Governance costs (see below)
**Support costs**
Office overheads/administration
Depreciation of fixed assets
Staff costs
Professional/financial
**Governance costs**
Accountancy/consultancy
Audit|**2022**
**£**
4,796
4,796
**2022**
**£**
285,794
486,932
8,000
780,726
171,452
40,861
263,704
10,915
486,932
2,750
5,250
8,000|**2021**
**£**
3,153|
|---|---|---|
|||3,153|
|||**2021**
**£**
58,957
306,167
8,000|
|||373,124|
|||119,169
42,463
139,076
5,459|
|||306,167|
|||2,750
5,250|
|||8,000|
21
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
|**8.**|**Net income for the year is**|**Group**||**Charity**||
|---|---|---|---|---|---|
||**stated after charging:**|**2022**|**2021**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
||Depreciation of tangible fixed assets|40,861|42,463|40,861|42,463|
||Auditors' remuneration:|||||
||- external audit|5,250|5,250|3,000|3,000|
||- other services|2,750|2,750|2,000|2,000|
## **9. Trustees' emoluments and reimbursed expenses**
The trustees received no remuneration during the year for their services as trustees (2021 - £nil).
The aggregated amount reimbursed to trustees during the year was £nil (2021 - £nil).
Helen Jeffreys was paid a gross salary of £57,000 (2021 - £49,995) for work undertaken as executive director and Joint CEO during the year while serving as a trustee of the charitable group company.
22
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
|**10.**
**Staff costs and numbers**
**Staff costs**
Salaries and wages
Social security costs
Pension costs|**Group**
**2022**
**£**
237,993
20,372
5,339
263,704|**2021**
**£**
126,932
9,088
3,056
139,076|**Charity**
**2022**
**£**
237,993
20,372
5,339
263,704|**2021**
**£**
126,932
9,088
3,056|
|---|---|---|---|---|
|||||139,076|
No employee earned £60,000 or more during the year (2021 - nil).
The key management personnel of the group and parent charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £114,306 (2021 - £81,469). Benefits paid to trustees are disclosed in note 9.
## **Staff numbers**
The average numbers of employees (including casual and part time staff) during the year was made up as follows:
|made up as follows:|||||||
|---|---|---|---|---|---|---|
||**Group**|||**Charity**|||
||**2022**|**2021**||**2022**|**2021**||
||**Number**
|**Number**||**Number**
|**Number**||
|Production/support|8||4|8||4|
## **11. Pension costs**
The group and parent operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £5,339 (2021 - £3,056).
## **12. Corporation Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
23
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **13. Fixed assets - tangible assets**
|**Freehold**
**Studio**
**Theatre**
**land/**
**fixtures/**
**fixtures/**
**Office**
**Group and Charity**
**buildings**
**fittings**
**fittings**
**equipment**
**£**
**£**
**£**
**£**
**Cost / valuation**
1 April 2021
3,377,021
46,498
35,433
16,628
Additions
-
-
1,600
-
31 March 2022
3,377,021
46,498
37,033
16,628
**Depreciation**
1 April 2021
213,481
39,113
17,641
10,795
Charge for year
33,770
2,462
3,703
926
31 March 2022
247,251
41,575
21,344
11,721
**Net book values**
31 March 2022
3,129,770
4,923
15,689
4,907
31 March 2021
3,163,540
7,385
17,792
5,833|**Total**
**£**
3,475,580
1,600|
|---|---|
||3,477,180|
||281,030
40,861|
||321,891|
||3,155,289|
||3,194,550|
There is a legal charge of £1.3 million over the assets of the charitable group company.
24
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **14. Fixed Asset Investments**
Shares in group undertakings - at cost £2.
The parent charity owns 100% of the share capital of Tara Productions Limited and Tara Arts Enterprises Limited, which are registered in England.
## **Tara Productions Limited**
The principal activity of Tara Productions Limited is production of theatre tours. The total capital and reserves at the balance sheet date were £1 (2021 - £1).
The summary financial performance of Tara Productions Limited alone is:
|Turnover
Cost of sales/administrative costs
Profit for the year|**2022**
**£**
-
-
-|**2021**
**£**
-
-|
|---|---|---|
|||-|
## **Tara Arts Enterprises Limited**
The principal activity of Tara Arts Enterprises Limited is the commercial trading activity of Tara Theatre. The total capital and reserves at the balance sheet date were £1 (2021 - £1).
The summary financial performance of Tara Enterprises Limited alone is:
|Turnover
Cost of sales/administrative costs
Profit for the year|**2022**
**£**
-
-
-|**2021**
**£**
-
-|
|---|---|---|
|||-|
25
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **15. Financial performance of the charity**
The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiaries Tara Productions Limited and Tara Arts Enterprises Limited.
The summary financial performance of the parent charity alone is:
|Income and endowments
Expenditure on charitable activities
Net incoming resources
Total funds brought forward
Total funds carried forward
**Represented by:**
General reserves
Designated funds
Restricted income funds|**2022**
**£**
894,712
)
(785,522
109,190
3,387,727
3,496,917
145,411
674,222
2,677,284
3,496,917|**2021**
**£**
476,069
)
(376,277|
|---|---|---|
|||99,792
3,287,935|
|||3,387,727|
|||107,722
633,568
2,646,437|
|||3,387,727|
|**16.**
**Debtors**
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|**Group**
**2022**
**£**
19,456
-
150
107,793
127,399|**2021**
**£**
747
-
5,688
2,029
8,464|**Charity**
**2022**
**£**
19,456
641
150
107,793
128,040|**2021**
**£**
747
121
5,688
2,029|
|---|---|---|---|---|
|||||8,585|
26
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
|**17.**
**Creditors: amounts falling due**
**within one year**
Trade creditors
Other taxation/social security
Other creditors
Accruals|**Group**
**2022**
**£**
35,046
8,737
4,162
42,389
90,334|**2021**
**£**
5,408
3,716
1,924
9,000
20,048|**Charity**
**2022**
**£**
35,046
8,737
4,162
42,389
90,334|**2021**
**£**
5,408
3,716
1,924
9,000|
|---|---|---|---|---|
|||||20,048|
## **18. Limited by guarantee**
The private limited company is limited by guarantee, registered in EW - England & Wales, and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2022 there were 8 members.
27
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
|**19.**|**Unrestricted funds **|**Brought**|**Incoming**|**Outgoing**||**Transfers**||**Carried**|
|---|---|---|---|---|---|---|---|---|
|||**forward**|**resources**|**resources**||||**forward**|
|||**£**|**£**|**£**||**£**||**£**|
||**Group**||||||||
||**General fund**|107,722|727,312|)
(626,164||)
(63,459||145,411|
||**Designated funds:**||||||||
||Fixed asset fund|583,568|-|-||(12,066|)|571,502|
||Garfield Weston fund|50,000|-|(50,000|)|-||-|
||Operating costs fund|-|-|-||102,720||102,720|
|||741,290|727,312|)
(676,164||27,195||819,633|
||**Charity**||||||||
||**General fund**|107,722|727,312|)
(626,164||)
(63,459||145,411|
||**Designated funds:**||||||||
||Fixed asset fund|583,568|-|-||(12,066|)|571,502|
||Garfield Weston fund|50,000|-|(50,000|)|-||-|
||Operating costs fund|-|-|-||102,720||102,720|
|||741,290|727,312|)
(676,164||27,195||819,633|
## **Fixed asset fund**
This fund represents the net value of fixed assets held in unrestricted reserves.
## **Garfield Weston fund**
A fund that was set aside for activity in the 2021/22 year.
## **Operating costs fund**
This fund has been designated for operating costs in 2022/23.
28
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **20. Restricted funds**
|**Group and Charity**|**Brought**|**Incoming**|**Outgoing**||**Transfers**||**Carried**|
|---|---|---|---|---|---|---|---|
||**forward**|**resources**|**resources**||||**forward**|
||**£**|**£**|**£**||**£**||**£**|
|Fixed asset fund|2,610,982|-|-||(27,195|)|2,583,787|
|Amma|-|59,950|(30,853|)|-||29,097|
|Artistic Associate project|20,000|-|(20,000|)|-||-|
|Our Streets|-|14,500|)
(14,500||-||-|
|Artists Make Space|-|65,450|)
(28,550||-||36,900|
|Constellations|-|27,500|-||-||27,500|
|Tara Theatre Programme|15,455|-|(15,455|)|-||-|
||2,646,437|167,400|)
(109,358||)
(27,195||2,677,284|
## **Fixed asset fund**
This fund represents the total funds raised for the capital development of the company's theatre, completed in April 2016. Grants were awarded by Arts Council England, trusts, foundations and companies, in addition to donations from individual Tara supporters.
The balance in this fund is transferred to the general fund over the lifetime of the assets.
## **Amma**
A grant from National Lottery Heritage fund for a virtual reality project exploring the experiences of women in the Bangladeshi War of Independence.
## **Artistic Associate project**
A grant of £20,000 from Maria Bjornson Memorial Fund was awarded to enable the appointment of an Artistic Associate and support work across our young creatives and community programmes.
## **Our Streets**
A theatre project working with 12 young women and non-binary people from Wandsworth, exploring their experiences of occupying public spaces in London.
## **Artists Make Space**
An international collaboration between UK based and Bangladeshi artists supported by the British Council.
## **Constellations**
A national artist development programme funded by the Foyle Foundation and the Noel Coward Foundation.
29
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **Restricted funds continued**
## **Tara Theatre Programme**
We were awarded grants from Cockayne Grants for the Arts, Paul Hamlyn Foundation, National Heritage Lottery Wimbledon Community Fund, London Community Fund and Wandsworth Grant Fund towards Tara Theatre's artistic and artist development programmes.
|**21.**
**Analysis of net assets between funds**
**General**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**Group**
**£**
**£**
**£**
Fund balances at 31 March 2022
are represented by:
Tangible fixed assets
-
571,502
2,583,787
Net current assets
145,411
102,720
93,497
145,411
674,222
2,677,284
**General**
**Designated**
**Restricted**
**funds**
**funds**
**funds**
**Charity**
**£**
**£**
**£**
Fund balances at 31 March 2022
are represented by:
Tangible fixed assets
-
571,502
2,583,787
Investments
2
-
-
Net current assets
145,409
102,720
93,497
145,411
674,222
2,677,284|**Total**
**£**
3,155,289
341,628|
|---|---|
||3,496,917|
||**Total**
**£**
3,155,289
2
341,626|
||3,496,917|
30
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Notes to the Consolidated Financial Statements for the year ended 31 March 2022**
## **22. Reconciliation of net income to net cashflow from group and charity operating activities.**
|**Group**
Net income for the reporting period (as per the statement
of financial activities)
Depreciation
Decrease/(increase) in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash inflow from group operating activities**
**Charity**
Net income for the reporting period (as per the statement
of financial activities)
Depreciation
Decrease/(increase) in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash inflow from charity operating activities**|**2022**
**£**
109,190
40,861
-
)
(118,935
70,286
101,402
**2022**
**£**
109,190
40,861
-
)
(119,455
70,286
100,882|**2021**
**£**
99,792
42,463
3,000
13,207
)
(16,714
141,748
**2021**
**£**
99,792
42,463
3,000
13,307
16,714
141,848|
|---|---|---|
## **23. Intercompany transactions and balances**
Advantage has been taken of the exemption not to disclose related party transactions with wholly owned subsidiaries.
## **24. Related party transactions**
There were no other related party transactions in the year other than those disclosed in note 9.
31
Appendix to the accounts
32
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Year ended 31 March 2022**
|**Income from donations and legacies**
**Grants**
ACE Business Plan funding
ACE Intervention funding
ACE Culture Recovery funding
Local authority funding
Trusts/foundations - revenue
HMRC Job Retention Scheme funding
**Donations**
Sundry donations/Gift Aid
**Income from charitable activities**
**Theatre**
**Theatre income**
Box office/fees
Workshop fees
Other income
**Project specific funding**
**Grants**
Trusts/foundations - revenue|**2022**
**£**
211,006
180,000
138,130
75,000
71,854
-
2,163
25,241
1,307
308
167,400|**£**
675,990
2,163
678,153
26,856
167,400
194,256|**2021**
**£**
107,662
180,000
-
72,000
65,000
2,768
2,359
336
-
-
43,886|**£**
427,430
2,359|
|---|---|---|---|---|
|||||429,789|
|||||336
43,886|
|||||44,222|
33
## **Tara Arts Group**
## **(Limited by Guarantee)**
|**Year ended 31 March 2022**
**2022**
**£**
**Income from other trading activities**
**Commercial trading operations**
Bar sales
4,893
Merchandise sales
1,587
Hires
15,823
22,303|**2021**
**£**
-
1,358
700|
|---|---|
||2,058|
34
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Year ended 31 March 2022**
|**Expenditure on raising funds**
**Commercial trading operations**
Opening stock
Bar costs
Mechandise costs
Hire costs
Closing stock|**2022**
**£**
-
4,796
-
-
4,796
-
4,796|**2021**
**£**
3,000
153
-
-|
|---|---|---|
|||3,153
-|
|||3,153|
35
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Year ended 31 March 2022**
|**Expenditure on charitable activities**
**Theatre**
**Production costs**
Commissions payable
Fees
Set/costumes/props
Hires
Light/sound/production costs
Travel/transport
Accommodation/subsistence
Publicity/marketing/website
Get ins/outs
Other production costs
Support and governance costs - pages 37 - 38|**2022**
**£**
14,812
147,641
24,818
7,755
15,194
3,122
740
67,161
3,075
1,476
285,794
494,932
780,726|**2021**
**£**
-
53,982
-
-
-
-
-
4,975
-
-|
|---|---|---|
|||58,957
314,167|
|||373,124|
36
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Year ended 31 March 2022**
|**Support and governance costs**
**Support costs**
**Office overheads**
Rates/utilities
Storage
Light/heat
Telephone/fax
Insurance
Repairs/maintenance
Cleaning
Hire of equipment
Computer support costs
Premises costs
Depreciation of studio/theatre/office
Depreciation of freehold property
**Administration costs**
Salaries/pension costs
Freelance fees
Social security costs
Recruitment/staff training
Travel
Printing/postage/stationery
Subscriptions/licences
Sundries
**Professional/financial**
Legal/professional
Bank charges and fees
Bad debts
**Carried forward**|**2022**
**£**
1,375
9,853
1,542
2,949
16,289
2,218
11,517
-
14,199
26,356
7,091
33,770
243,332
69,961
20,372
6,512
967
1,497
1,167
5,050
7,650
2,645
620|**£**
127,159
348,858
10,915
486,932|**2021**
**£**
541
9,079
14,352
1,755
13,030
633
2,161
1,026
12,619
7,534
8,693
33,770
129,988
44,034
9,088
8,920
184
649
1,776
876
1,126
913
3,420|**£**
105,193
195,515
5,459|
|---|---|---|---|---|
|||||306,167|
37
## **Tara Arts Group**
## **(Limited by Guarantee)**
## **Year ended 31 March 2022**
|**Brought forward**
**Governance costs**
Accountancy/consultancy
Audit|**2022**
**£**
2,750
5,250|**£**
486,932
8,000
494,932|**2021**
**£**
2,750
5,250|**£**
306,167
8,000|
|---|---|---|---|---|
|||||314,167|
38