## **Company number: 02059664 Charity number: 295547** 

## Tara Arts Group 

Report and financial statements For the year ended 31 March 2025 



**Tara Arts Group (Limited by Guarantee)** 

## **Reference and administrative information** 

## **For the Year Ended 31 March 2025** 

## **Constitution** 

The charitable Group Company is a private Company limited by guarantee registered in 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 Company (Tara Arts Group) trading as “Tara Theatre” 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: 

Anu Giri Andrew Given Javid Hamid Neha Jain Helen Jeffreys Resigned 9 June 2025 Natasha Kathi-Chandra Appointed 9 June 2025 Lisa Logan Sunita Pandya (Chair) Sagar Shah 

## **Chief Executives (day to day management)** 

Helen Jeffreys, Executive Director (until 23 May 2025) Alys Beider, Executive Director (from 4 August 2025) Natasha Kathi-Chandra, Artistic Director 

## **Auditors** 

Sayer Vincent, 110 Golden Lane, London, EC1Y 0TG 

## **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 Enterprises Limited. 

1 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

The Trustees present their report together with the consolidated financial statements of the charity and its subsidiaries for the year ended 31 March 2025 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 recommendations from within the industry and public advertisements. On appointment, they receive a briefing from the Chief Executives on 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. 

In 2024/25 the Company had 6 full-time and 2 part-time staff, 83% of full-time staff identified as from global majority backgrounds and 75% of all staff identified as female. 

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 one member of the team is trained in mental health first aid. 

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. 75% of our Board is of South Asian heritage and 63% identify as female. 

## **Relationship with other Connected Charities** 

There were no relationships with other connected charities during the year under review. 

2 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

## **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 2024/5: 

_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 principal objectives and activities of the charitable company are as per our Business Delivery Plan for the year: 

- Produce and present an artistic programme of excellent that amplifies South Asian voices and communities 

- Be a leading voice in advocating and effecting change to address a lack of diversity and representation within the UK theatre sector/create local artistic hub for all our communities and a destination venue for the South Asian community in London 

- Continue to increase Tara’s profile and expand number of audience members, participants, visitors, stakeholders and supporters 

- Continue the growth of a resilient and thriving company by developing opportunities for generating income that are realistic and sustainable and ensure robust financial procedures and risk management systems are in place 

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 March 2024 Natasha Kathi-Chandra took on the role of Artistic Director and Joint Chief Executive. 

_As a country defined by its colonial history and migration, stories from global majority and migrant artists are important now more than ever. The country needs a re-education, or a reminder of its history and identity. We call on arts organisations to invest more meaningfully in their artists, to commit to expanding the canon of voices and to stage more diverse stories._ Natasha Kathi-Chandra, Tara Theatre’s Artistic Director 

With a robust 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 has been catalyst and agent for change within the national theatre landscape, addressing the widespread lack of diversity and inclusivity and changing our sector. Our work has explored the complexities of our world through a South Asian lens, championing South Asian voices and artists, identifying new narratives, new ideas and new forms. 

3 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

## **Highlights over the year include:** 

- Our production of _Silence_ toured to the Queen’s Theatre in Hornchurch; Curve Theatre, Leicester; Birmingham Rep and HOME Manchester in Spring 2024 (previously premiered at the Donmar Warehouse in 2022). Iqbal Khan, Associate Director of Birmingham Rep directed the touring version of the production 

- We presented A Practical Guide on How to Save the World when No-One F***ing Else Is **…,** a devised performance by Tara Theatre’s Young Company, our fully paid young company initiative 

- We supported 2 research and development weeks for emerging South Asian artists 

- We ran 20 weeks of artistic projects for our local Wandsworth Community, including our Sanctuary Seeking communities 

## **Silence National Tour** 

In April and May 2024, we produced a national tour of _Silence_ , 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. The original 2022 production directed by Abdul Shayek played for 3 weeks at the Donmar Warehouse and 2 weeks at Tara Theatre, reaching almost **6,000** people at **98%** and **96%** audience capacity in each venue respectively. 

We secured an Arts Council England touring grant for projects of national significance to present _Silence_ across the UK and took the touring production, directed by Iqbal Khan, to Leicester Curve, Birmingham Rep, Home Manchester and Queens Theatre Hornchurch in. We reached over 6,000 people across the tour with an average of 33% of audiences being new bookers the venues. 

100% of the cast and 78% of our creative team were of South Asian heritage. 89% of creative freelancers who worked on the project were from global majority backgrounds. 

_‘A moving and immensely powerful piece of theatre’_ Financial Times 

_‘Powerful docu-theatre show giving voice to those caught up in the chaos of the Partition of India’_ Time Out, 

_‘This production is a monumental piece of theatre, one that conveys a painful truth about the effects of generational trauma, and how a few weeks of work in 1947 can still has ramifications for millions of people to this day_ ’ – The New Current ★★★★★ 

## **Tara Theatre Young Company – A Practical Guide on How to Save the World when No-One F***ing Else Is…** 

In Spring 2025 we presented a devised performance by the Tara Theatre Young Company with writer Nicole Latchana and director Gavin Joseph. 13 young people aged 18-25 formed the company, taking part in skills-building workshops across creative, technical and backstage teams and devising a professional show together. The play explored eco-colonialism and climate change as the Global South continues to suffer the consequences of environmental decline. 

_‘A blunt and thought provoking show that fearlessly makes a statement. It isn’t all talk, it’s action’ -_ West End Best Friend ★★★★★ 

4 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

Feedback from participants: 

_‘I was able to explore different aspects of theatre making and learnt new skills and made new friends and connection through the process.’_ 

_‘It provided a wide range of skills and people for me to chat to and get to know, therefore helping me access my place in the industry / world_ ‘ 

_‘All I want to express is genuine gratitude - the process, the people, and these workshops have been absolutely everything’_ 

Participants in the programme reported improved interpersonal skills and increased confidence; they also said they felt a greater willingness to participate in arts and culture activities and a sense that arts were relevant to them. All participants were paid the London Living Wage to ensure equality of access to the programme. The production played to audiences of 470 at Tara Theatre. 

## **NOVA** 

Nova is Tara Theatre’s seed commission programme for writers of South Asian heritage and connections. This new writing programme commissions three writers per year to expand the canon of South Asian voices and uncover stories of how contemporary narratives around current themes affect our communities. The writers are offered dramaturgical support and masterclasses throughout their commission period, with their pieces presented as rehearsed readings at Tara Theatre. 

## **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 predominantly from the South Asian community. 

## **Research and Development** 

Within this year we undertook research and development weeks for the following new plays by South Asian writers: 

_Permission_ by Hunia Chawla _Azzad_ by Mohit Mathur 

## **Financial Review** 

The Company made a surplus in year of £18,241 (2023: surplus of £37,811). 

The Board and the Finance Committee continued to exercise due diligence over the financial transactions of the charity in the year under review. 

As a national portfolio organisation (NPO) the Company is principally supported by Arts Council England (ACE) and our current funding agreement for Tara Theatre runs until March 2026 with an extension agreed to March 2027. We are incredibly grateful to receive this vital source of funding from ACE as it enables the Company to achieve its principal objectives. 

In 2024/25 Tara Theatre’s income of £833,358 (2023: £831,329) was made up as follows: ACE 51% Fundraising (donations, trusts and statutory organisations) 35% Earned income (box office, fees, commissions, Theatre Tax Relief) 10% Trading income 4% 

5 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

We were awarded grants from: 

Esmée Fairbairn Foundation, Garfield Weston Foundation, John Ellerman Foundation, Vogue World London Fund, Portal Trust, Fenton Arts Trust, 29[th] May 1961 Charitable Trust, Maria Bjornson Memorial Fund, Noel Coward Foundation, Garrick Charitable Trust, London Borough of Wandsworth Grant Fund (for Community and Outreach activities), National Lottery Community Fund, Arts Council England National Lottery Project Grant (for _Silence_ ). 

We thank all our funders for their generous support during the year. 

The charity has two trading subsidiaries: Tara Productions Limited and Tara Enterprises Limited. Trading surpluses achieved are transferred back to the main charity under Gift Aid. Neither Subsidiary traded in the year however they are expected to trade in future years. 

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 addition, there is also a floating charge on behalf of the London Borough of Wandsworth included in the accounts. 

All our staff, including Front of House, Bar and Box Office staff, are paid at least the London Living Wage. 

In March 2024, the trustees applied to the Charity Commission for authorisation under Section 106 of the Charities Act 2011 to make an application of property application of property (ex-gratia payment) to the family of Abdul Shayek (Tara Theatre’s late Artistic Director), regarding themselves to be under a moral obligation to do so. In July 2024, the Commission issued an order of authorisation for the trustees to make the application of property (ex-gratia payment). 

## **Future Plans** 

In Autumn 2025 we will present _I Dream of Theresa May_ by Vivek Nityananda at Tara Theatre. In early 2026 we will produce _Sweetmeats_ by Karim Khan in a co-production with the Bush Theatre. 

We will continue with our artist development and community engagement programmes, as well as presenting discrete events. 

## **Risk Management** 

The Trustees consider the risks to the charity at each quarterly Board meeting and ensure that systems and procedures are established to mitigate the risks identified. A Risk Register is prepared by the executive which outlines key risks around productions, health and safety, financial and strategic and external risks. 

The principal 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 2027. 

6 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

## **Reserves Policy and Going Concern** 

At the balance sheet date, Tara Theatre's reserves were: 

|||£|
|---|---|---|
|FixedAssets|Restrictedfunds|2,529,554|
|(capitalreserves)|Designatedfunds|521,654|
||**Total**|**3,051,208**|
|CurrentAssets|Restrictedfunds|63,501|
|(liquid reserves)|Unrestrictedfunds|306,194|
||(generalreserve)||
||**Total**|**369,695**|



Tara Theatre maintains a general reserve to manage timing variations in operating cashflows, and to protect the charity against a fall in trading income, funding or donations or an unexpected increase in costs. 

Tara Theatre reviewed its Reserves Policy in December 2025, considering current operating costs and risks associated with income required to deliver business planning objectives. The Trustees believe that a general reserve of £149k - £299k is an appropriate target range for general reserves, equivalent to 3-6 months of core operating costs. 

At the balance sheet date, the general reserve stood at £306k, which is within this range. 

The charity does not include the value of its freehold building and other fixed assets in calculating its reserves as (i) they are critical for Tara Theatre to deliver public benefit, and (ii) there are charges on them relating to historic funding. The restricted current funds are limited to specific projects (see Note 20). 

Having reviewed the charity’s business plan, funding, reserves and cashflow forecasts, the Trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern and the accounts are prepared on that basis. 

7 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

## **Statement of responsibilities of the trustees** 

The Trustees (who are also directors of Tara Arts Group for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group 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 

- Make judgements and estimates that are reasonable and prudent 

- State whether applicable UK Accounting Standards and statements of recommended practice 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 charity 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 group 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 audit information of which the charitable company’s auditor is unaware 

- The Trustees have taken all steps that they ought to have 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. 

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of its winding up. The total number of such guarantees at 31 March 2025 was 8 (2024: 8). The trustees are members of the charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity. 

8 



**Tara Arts Group (Limited by Guarantee)** 

## **Trustees Annual Report** 

## **For the Year Ended 31 March 2025** 

## **Auditor** 

Sayer Vincent LLP was appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity. 

The Trustees’ annual report has been approved by the Trustees on 15 December 2025 and signed on their behalf 

Sunita Pandya Malik Chair of the Board of Trustees 

9 



**Independent auditor’s 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 2025 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the 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 FRS 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 of the parent charitable company’s affairs as at 31 March 2025 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 

- Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011 

## 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 group 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 

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

10 



**Independent auditor’s report** 

## **to the members of** 

## **Tara Arts Group** 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Tara Arts Group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## Other Information 

The other information comprises the information included in the trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the group financial statements themselves. 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. 

## 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’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements 

- The trustees’ annual has been prepared in accordance with applicable legal requirements 

11 



**Independent auditor’s report** 

## **to the members of** 

## **Tara Arts Group** 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 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 company financial statements are not in agreement with the accounting records and returns; or 

- Certain disclosures of trustees’ remuneration specified by law are not made; or 

- We have not received all the information and explanations we require for our audit; or 

- The directors 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 trustees’ annual report and from the requirement to prepare a strategic report. 

## Responsibilities of trustees 

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent 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 the 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. 

12 



**Independent auditor’s report** 

## **to the members of** 

## **Tara Arts Group** 

## Auditor’s responsibilities for the audit of the financial 

## statements 

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts. 

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. 

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 are set out below. 

## Capability of the audit in detecting irregularities 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: 

- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to: 

   - Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; 

   - The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations. 

- We inspected the minutes of meetings of those charged with governance. 

- We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience. 

- We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. 

- We reviewed any reports made to regulators. 

- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations. 

13 



**Independent auditor’s report** 

## **to the members of** 

## **Tara Arts Group** 

- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. 

- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. 

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 Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## Use of our report 

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 

Judith Miller (Senior statutory auditor) 

16 December 2025 

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG 

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006 

14 



Tara Arts Group 

Consolidated statement of financial activities (incorporating an income and expenditure account) 

For the year ended 31 March 2025 

|For theyear ended 31 March 2025|For theyear ended 31 March 2025||||||||
|---|---|---|---|---|---|---|---|---|
|General<br>funds<br>Note<br>£<br>Income from:<br>2<br>530,164<br>3<br>152,819<br>4<br>Commercial trading operations<br>34,817<br>2,138<br>719,938<br>5<br>Commercial trading operations<br>4,096<br>6<br>646,400<br>650,496<br>20<br>69,442<br>(2,250)<br>67,192<br>Reconciliation of funds:<br>239,002<br>306,194<br>Total funds brought forward<br>Total funds carried forward<br>Transfers between funds<br>Net movement in funds<br>69,442<br>Raising funds<br>Net income / (expenditure) for the year<br>Total expenditure<br>Net income / (expenditure) before net gains /<br>(losses) on investments<br>Charitable activities<br>Theatre<br>Total income<br>Expenditure on:<br>Donations and legacies<br>Charitable activities<br>Other trading activities:<br>Theatre<br>Other Income||Designated<br>funds<br>£<br>-<br>-<br>-<br>-|Restricted<br>funds<br>£<br>-<br>113,600<br>-<br>-|2025<br>Total<br>£<br>530,164<br>266,419<br>34,817<br>2,138|General<br>funds<br>£<br>548,862<br>100,292<br>21,611<br>1,963|Designated<br>funds<br>£<br>-<br>-<br>-<br>-|Restricted<br>funds<br>£<br>2,901<br>155,700<br>-<br>-|2024<br>Total<br>£<br>551,763<br>255,992<br>21,611<br>1,963|
||719,938|-|113,600|833,538|672,728|-|158,601|831,329|
||4,096<br>646,400|-<br>14,738|-<br>150,063|4,096<br>811,201|4,270<br>562,824|-<br>15,436|-<br>210,988|4,270<br>789,248|
||650,496|14,738|150,063|815,297|567,094|15,436|210,988|793,518|
||69,442|(14,738)|(36,463)|18,241|105,634|(15,436)|(52,387)|37,811|
||69,442<br>(2,250)|(14,738)<br>2,250|(36,463)<br>-|18,241<br>-|105,634<br>-|(15,436)<br>-|(52,387)<br>-|37,811<br>-|
||67,192<br>239,002<br>306,194|(12,488)<br>534,142<br>521,654|(36,463)<br>2,629,518<br>2,593,055|18,241<br>3,402,662<br>3,420,903|105,634<br>133,368<br>239,002|(15,436)<br>549,578<br>534,142|(52,387)<br>2,681,905<br>2,629,518|37,811<br>3,364,851<br>3,402,662|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 20 to the financial statements. 

15 



Tara Arts Group 

Company no. 02059664 

## Balance sheets 

## As at 31 March 2025 

|As at 31 March 2025<br>Balance sheets|As at 31 March 2025<br>Balance sheets|As at 31 March 2025<br>Balance sheets|Company no. 02059664|Company no. 02059664|
|---|---|---|---|---|
|2025<br>2024<br>Note<br>£<br>£<br>Fixed assets:<br>13<br>3,051,209<br>3,089,248<br>14<br>-<br>-<br>3,051,209<br>3,089,248<br>Current assets:<br>16<br>108,716<br>75,321<br>308,101<br>304,296<br>416,817<br>379,617<br>Liabilities:<br>17 & 18<br>(47,123)<br>(66,203)<br>369,694<br>313,414<br>3,420,903<br>3,402,662<br>3,420,903<br>3,402,662<br>20<br>306,194<br>239,002<br>521,654<br>534,142<br>Total unrestricted funds<br>827,848<br>773,144<br>2,593,055<br>2,629,518<br>3,420,903<br>3,402,662<br>Net current assets<br>Debtors<br>Creditors: amounts falling due within one year<br>Total assets less current liabilities<br>Funds:<br>Total net assets<br>Restricted income funds<br>Total funds<br>General funds<br>Designated funds<br>Investments<br>Cash at bank and in hand<br>Tangible assets<br>The group|||2025<br>2024<br>£<br>£<br>3,051,209<br>3,089,248<br>2<br>2<br>The charity||
||3,051,209<br>108,716<br>308,101|3,089,248<br>75,321<br>304,296|3,051,211<br>109,109<br>307,706|3,089,250<br>76,022<br>303,593|
||416,817<br>(47,123)|379,617<br>(66,203)|416,815<br>(47,123)|379,615<br>(66,203)|
||369,694|313,414|369,692|313,412|
||3,420,903<br>3,420,903|3,402,662<br>3,402,662|3,420,903<br>3,420,903|3,402,662<br>3,402,662|
||306,194<br>521,654|239,002<br>534,142|306,194<br>521,654|239,002<br>534,142|
||827,848|773,144|827,848|773,144|
||2,593,055|2,629,518|2,593,055|2,629,518|
||3,420,903|3,402,662|3,420,903|3,402,662|



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 

Approved by the trustees on 15 December 2025 and signed on their behalf by 

Sunita Pandya Chair of the Board of Trustees 

16 



Tara Arts Group 

## Consolidated statement of cash flows 

## For the year ended 31 March 2025 

|For theyear ended 31 March 2025|For theyear ended 31 March 2025|For theyear ended 31 March 2025|||
|---|---|---|---|---|
|Note<br>£<br>£<br>Net income/(expenditure) for the reporting period<br>18,241<br>(as per the statement of financial activities)<br>Depreciation charges<br>40,289<br>(Increase)/decrease in debtors<br>(33,394)<br>Increase/(decrease) in creditors<br>(19,081)<br>Net cash provided by / (used in) operating activities<br>6,055<br>(2,250)<br>(2,250)<br>3,805<br>304,296<br>a<br>308,101<br>Analysis of cash and cash equivalents and of net debt<br>At 1 April<br>2024<br>Cash flows<br>£<br>£<br>Cash at bank and in hand<br>304,296<br>3,805<br>a Total cash and cash equivalents<br>304,296<br>3,805<br>Cash and cash equivalents at the beginning of the year<br>Cash and cash equivalents at the end of the year<br>Change in cash and cash equivalents in the year<br>2025<br>Cash flows from operating activities<br>Net cash (used in) investing activities<br>Cash flows from investing activities:<br>Purchase of fixed assets|||£<br>£<br>37,811<br>41,245<br>(9,290)<br>12,271<br>82,037<br>-<br>-<br>82,037<br>222,259<br>304,296<br>Other non-<br>cash<br>changes<br>At 31 March<br>2025<br>£<br>£<br>-<br>308,101<br>2024||
|||6,055||82,037|
|||(2,250)||-|
|||3,805<br>304,296||82,037<br>222,259|
|||308,101||304,296|
|||<br>Cash flows<br>£<br>3,805||<br>At 31 March<br>2025<br>£<br>308,101|
||304,296|3,805|-|308,101|



17 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 1 Accounting policies 

## a) Statutory information 

Tara Arts Group is a charitable company limited by guarantee and is incorporated in the UK. The registered office address 356 Garratt Lane, London, SW18 4ES. 

## b) Basis of preparation 

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006/Charities Act 2011. 

These financial statements consolidate the results of the charity and its wholly-owned subsidiaries Tara Productions Ltd, and Tara Arts Enterprises Ltd on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006, A summary of the result for the year is disclosed in the notes to the accounts. 

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. 

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. 

## c) Public benefit entity 

The charity meets the definition of a public benefit entity under FRS 102. 

## d) Going concern 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

## e) Income 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. 

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. 

18 



Tara Arts Group 

Notes to the financial statements 

## For the year ended 31 March 2025 

- 1 Accounting policies (continued) 

- f) Donations of gifts, services and facilities 

   - Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. 

## g) Interest receivable 

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. 

## h) Fund accounting 

Restricted funds are to be used for specific purposes as laid down by the donor.  Expenditure which meets these criteria is charged to the fund. 

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. 

## i) Expenditure and irrecoverable VAT 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose 

- Expenditure on charitable activities includes the costs of theatre activities undertaken to further the purposes of the charity and their associated support costs 

- Other expenditure represents those items not falling into any other heading 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## j) Allocation of support costs 

Resources expended are allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is wholly apportioned to Theatre production Costs. 

Governance costs are the costs associated with the governance arrangements of the charity.  These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities. 

Support and governance costs are wholly  attributable to theatre production costs. 

>  Theatre Production Costs 100% 

19 



Tara Arts Group 

Notes to the financial statements 

## For the year ended 31 March 2025 

- 1 Accounting policies (continued) 

- k) Operating leases 

Rental charges are charged on a straight line basis over the term of the lease. 

## l) Tangible fixed assets 

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. [Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life]. 

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet. 

- Freehold Land and Buildings 

- Studio Fixtures and Fittings  Theatre Fixtures and Fittings  Office Equipment 

100 years 3 years 10 years 10 years 

## m) Investments in subsidiaries Investments in subsidiaries are at cost. 

## n) Debtors 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## o) Cash at bank and in hand 

Cash at bank and cash 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. 

## p) Creditors and provisions 

Creditors and provisions are recognised where the charity has 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. 

## q) Financial instruments 

The charity only has 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. 

## r) Pensions 

The Charitable Group Company operates a defined contribution scheme for the benefit of its employees. Contributions are recognised as expenditure when due. 

20 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

- 2 Income from donations and legacies 

|Income from donations and legacies|||
|---|---|---|
|Grants<br>ACE funding<br>Other revenue funding<br>Donations<br>Individual/sundry<br>-<br>Theatre income<br>Box office/fees<br>Project specific funding<br>Creative Industries Tax relief<br>331,773<br>Income from charitable activities|2025<br>Total<br>£<br>422,000<br>106,932|2024<br>Total<br>£<br>422,000<br>125,000|
||528,932<br>1,232|547,000<br>4,763|
||530,164|551,763|
||2025<br>Total<br>£<br>16,230<br>181,913<br>68,276|2024<br>Total<br>£<br>36,542<br>158,850<br>60,600|
||266,419|255,992|



- 3 Income from charitable activities 

£113,600 of Theatre Income is restricted (2024: £155,700) 

Project specific funding includes restricted grants from Arts Council National Lottery Project, Trusts and Foundations, as well as partnership and production fees. 

21 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

- 4 Income from other trading activities 

|4<br>Income from other trading activities|||
|---|---|---|
|5<br>Commercial trading operations<br>Bar/hire and Merchandise income<br>Bar/hire costs<br>Commercial trading operations<br>Expenditure on raising funds<br>Membership Subscriptions<br>Royalties<br>All income from trading activities is unrestricted.|2025<br>Total<br>£<br>30,352<br>-<br>4,465|2024<br>Total<br>£<br>19,903<br>121<br>1,588|
||34,817|21,611|
||2025<br>Total<br>£<br>4,096|2024<br>Total<br>£<br>4,270|
||4,096|4,270|



22 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

- 6 Expenditure from charitable activities 

|Expenditure from charitable activities|||
|---|---|---|
|Theatre<br>Production costs<br>Direct theatrical/production costs<br>Support costs (see below)<br>Governance costs (see below)<br>£150,063 of Theatre Expenditure is restricted (2024: £206,098)<br>Support costs<br>Office overheads/administration<br>Depreciation of fixed assets<br>Staff costs<br>Professional/financial<br>Governance costs<br>Accountancy/consultancy<br>Audit|2025<br>Total<br>£<br>206,498<br>590,803<br>13,900|2024<br>Total<br>£<br>236,168<br>540,174<br>12,906|
||811,201|789,248|
||184,830<br>40,289<br>321,409<br>44,275|148,273<br>41,244<br>349,657<br>1,000|
||590,803|540,174|
||2,500<br>11,400|2,106<br>10,800|
||13,900|12,906|



23 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 7 Net income / (expenditure) for the year 

This is stated after charging / (crediting): 

|This is stated after charging / (crediting):|||||
|---|---|---|---|---|
||Group||Charity||
||2025|2024|2025|2024|
||£|£|£|£|
|Depreciation of tangible fixed assets|40,289|41,245|40,289|41,245|
|Auditor's remuneration (excluding VAT):|||||
|Audit|11,400|10,800|-|-|
|Other services|3,000|2,000|-|-|



## 8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel 

Staff costs were as follows: 

|Staff costs were as follows:|||||
|---|---|---|---|---|
|Salaries and wages<br>Social security costs<br>Pension costs|2025<br>2024<br>£<br>£<br>286,005<br>314,027<br>26,438<br>25,516<br>8,966<br>10,114<br>321,409<br>349,657<br>Group||2025<br>2024<br>£<br>£<br>286,005<br>314,027<br>26,438<br>25,516<br>8,966<br>10,114<br>321,409<br>349,657<br>Charity||
||321,409|349,657|321,409|349,657|



One employee earned more than £60,000 during the year: £65,000 (2024: 61,713). 

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 £142,046. (2024 - £103,289). 

Helen Jeffreys was paid a gross salary of £65,000 (2024: £61,713) for work undertaken as Executive Director and Joint CEO during the year while serving as a trustee of the charitable company. 

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs were £270. (2024: nil). 

## 9 Staff numbers 

The average number of employees (head count based on number of staff employed) during the year was 8 (2024: 9). 

|Productions/support|2025<br>2024<br>No.<br>No.<br>8<br>9<br>8<br>9<br>Group|2025<br>2024<br>No.<br>No.<br>8<br>9<br>8<br>9<br>Group|2025<br>2024<br>No.<br>No.<br>-<br>-<br>-<br>-<br>Charity|2025<br>2024<br>No.<br>No.<br>-<br>-<br>-<br>-<br>Charity|
|---|---|---|---|---|
||8|9|-|-|



24 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 10 Pension costs 

The group and parent operates a defined contribution pension scheme in respect of its employees. Employer contributions are 3% of pensionable earnings. 

The scheme and its assets are held by independent managers. The pension charge represents contributions due 

- 11 Related party transactions 

Aggregate donations from related parties were £0 (2024: £530). 

## 12 Taxation 

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## 13 Tangible fixed assets 

|Tangible fixed assets||||||
|---|---|---|---|---|---|
|Cost/ valuation<br>The group and charity<br>Charge for the year<br>At the end of the year<br>At the start of the year<br>Additions in year<br>Net book value<br>At the end of the year<br>At the start of the year<br>At the end of the year<br>Depreciation<br>At the start of the year|Freehold<br>land/<br>buildings<br>£<br>3,377,021<br>-|Studio<br>fixtures and<br>fittings<br>£<br>46,498<br>-|Theatre<br>fixtures/<br>fittings<br>£<br>39,004<br>2,250|Office<br>equipment<br>£<br>40,568<br>-|Total<br>£<br>3,503,091<br>2,250|
||3,377,021|46,498|41,254|40,568|3,505,341|
||314,391<br>33,770|46,498<br>-|29,144<br>4,125|23,810<br>2,394|413,843<br>40,289|
||348,161|46,498|33,269|26,204|454,132|
||3,028,860|-|7,985|14,364|3,051,209|
||3,062,630|-|9,860|16,758|3,089,248|



There is a legal charge of £1.3 million over the assets of the charitable group company owing to Arts Council There is also a legal charge owing to the London Borough of Wandsworth of £45,000 

All of the above assets are used for charitable purposes. 

25 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 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 

|Tara Productions Limited|||
|---|---|---|
|The aggregate of the assets, liabilities and reserves was:<br>Assets<br>Liabilities<br>Assets<br>Liabilities<br>The aggregate of the assets, liabilities and reserves was:<br>Reserves<br>Tara Arts Enterprises Limited|2025<br>£<br>199<br>(198)|2024<br>£<br>93<br>(92)|
||1|1|
||2025<br>£<br>196<br>(195)|2024<br>£<br>70<br>(69)|
||1|1|



26 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 15 Reserves 

The parent charity's gross income and the results for the year are disclosed as follows: 

|16<br>Gross income<br>Amounts due from group undertakings<br>Result for the year<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income<br>Debtors|2025<br>2024<br>£<br>£<br>17,468<br>3,542<br>7,959<br>8,411<br>2<br>2<br>83,287<br>63,366<br>108,716<br>75,321<br>The group|2025<br>2024<br>£<br>£<br>17,468<br>3,542<br>7,959<br>8,411<br>2<br>2<br>83,287<br>63,366<br>108,716<br>75,321<br>The group|2025<br>£<br>833,538<br>18,241|2024<br>£<br>831,329<br>37,811|
|---|---|---|---|---|
||108,716|75,321|109,109|76,020|



27 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 17 Creditors: amounts falling due within one year 

|Creditors: amounts falling due within one year|||||
|---|---|---|---|---|
|Accruals<br>Other creditors<br>Deferred income (note 18)<br>Trade creditors<br>Taxation and social security|2025<br>2024<br>£<br>£<br>20,068<br>29,831<br>8,318<br>6,616<br>2,632<br>4,093<br>16,105<br>25,271<br>-<br>392<br>47,123<br>66,203<br>The group||2025<br>2024<br>£<br>£<br>20,068<br>29,831<br>8,318<br>6,616<br>2,632<br>4,093<br>16,105<br>25,271<br>-<br>392<br>47,123<br>66,203<br>The charity||
||47,123|66,203|47,123|66,203|



## 18 Deferred income 

|2025<br>2024<br>£<br>£<br>Balance at the beginning of the year<br>392<br>-<br>Amount released to income in the year<br>(392)<br>-<br>Amount deferred in the year<br>-<br>392<br>Balance at the end of the year<br>-<br>392<br>-<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>306,194<br>-<br>306,194<br>521,654<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>-<br>-<br>306,194<br>-<br>306,194<br>521,654<br>Designated<br>funds<br>Designated<br>funds<br>Group<br>Tangible fixed assets<br>Analysis of group net assets between funds (current year)<br>Net current assets<br>The group<br>Investments<br>Net assets at 31 March 2025<br>Charity<br>Tangible fixed assets<br>Net current assets<br>Net assets at 31 March 2025|2025<br>2024<br>£<br>£<br>Balance at the beginning of the year<br>392<br>-<br>Amount released to income in the year<br>(392)<br>-<br>Amount deferred in the year<br>-<br>392<br>Balance at the end of the year<br>-<br>392<br>-<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>306,194<br>-<br>306,194<br>521,654<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>-<br>-<br>306,194<br>-<br>306,194<br>521,654<br>Designated<br>funds<br>Designated<br>funds<br>Group<br>Tangible fixed assets<br>Analysis of group net assets between funds (current year)<br>Net current assets<br>The group<br>Investments<br>Net assets at 31 March 2025<br>Charity<br>Tangible fixed assets<br>Net current assets<br>Net assets at 31 March 2025|2025<br>2024<br>£<br>£<br>Balance at the beginning of the year<br>392<br>-<br>Amount released to income in the year<br>(392)<br>-<br>Amount deferred in the year<br>-<br>392<br>Balance at the end of the year<br>-<br>392<br>-<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>306,194<br>-<br>306,194<br>521,654<br>General<br>unrestricted<br>£<br>£<br>-<br>521,654<br>-<br>-<br>306,194<br>-<br>306,194<br>521,654<br>Designated<br>funds<br>Designated<br>funds<br>Group<br>Tangible fixed assets<br>Analysis of group net assets between funds (current year)<br>Net current assets<br>The group<br>Investments<br>Net assets at 31 March 2025<br>Charity<br>Tangible fixed assets<br>Net current assets<br>Net assets at 31 March 2025|2025<br>2024<br>£<br>£<br>392<br>-<br>(392)<br>-<br>-<br>392<br>-<br>392<br>Restricted<br>funds<br>Total funds<br>£<br>£<br>2,529,555<br>3,051,209<br>63,500<br>369,694<br>2,593,055<br>3,420,903<br>()<br>Restricted<br>funds<br>Total funds<br>£<br>£<br>2,529,555<br>3,051,209<br>-<br>-<br>63,500<br>369,694<br>2,593,055<br>3,420,903<br>The charity|2025<br>2024<br>£<br>£<br>392<br>-<br>(392)<br>-<br>-<br>392<br>-<br>392<br>Restricted<br>funds<br>Total funds<br>£<br>£<br>2,529,555<br>3,051,209<br>63,500<br>369,694<br>2,593,055<br>3,420,903<br>()<br>Restricted<br>funds<br>Total funds<br>£<br>£<br>2,529,555<br>3,051,209<br>-<br>-<br>63,500<br>369,694<br>2,593,055<br>3,420,903<br>The charity|
|---|---|---|---|---|
||-|392|-|392|
|||£<br>521,654<br>-<br>Designated<br>funds|Restricted<br>funds<br>£<br>2,529,555<br>63,500|Total funds<br>£<br>3,051,209<br>369,694|
||306,194|521,654|2,593,055|3,420,903|
||General<br>unrestricted<br>£<br>-<br>-<br>306,194|£<br>521,654<br>-<br>-<br>Designated<br>funds|()<br>Restricted<br>funds<br>£<br>2,529,555<br>-<br>63,500|Total funds<br>£<br>3,051,209<br>-<br>369,694|
||306,194|521,654|2,593,055|3,420,903|



19a Analysis of group net assets between funds (current year) 

28 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 19b Analysis of group net assets between funds (prior year) 

|Group<br>Net assets at 31 March 2024<br>Tangible fixed assets<br>Investments<br>Net current assets<br>Net current assets<br>Net assets at 31 March 2024<br>Charity<br>Tangible fixed assets|General<br>unrestricted<br>£<br>-<br>239,001|£<br>534,142<br>-<br>Designated<br>funds|Restricted<br>funds<br>£<br>2,555,105<br>74,413|Total funds<br>£<br>3,089,247<br>313,414|
|---|---|---|---|---|
||239,001|534,142|2,629,518|3,402,661|
||General<br>unrestricted<br>£<br>-<br>-<br>239,001|£<br>534,142<br>-<br>-<br>Designated<br>funds|Restricted<br>funds<br>£<br>2,555,105<br>-<br>74,413|Total funds<br>£<br>3,089,247<br>-<br>313,414|
||239,001|534,142|2,629,518|3,402,661|



29 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 20a Movements in funds (current year) 

|e year ended 31 March 2025<br>Movements in funds (current year)||||||
|---|---|---|---|---|---|
|Group<br>Total restricted funds<br>Total designated funds<br>General funds<br>Abdul Shayek Fellowship<br>Total funds<br>Restricted funds:<br>Fixed asset fund<br>Young Company<br>Silence Tour<br>Sweetmeats<br>GLA / Wandsworth Grants<br>Bloomberg<br>Designated funds:<br>Total unrestricted funds<br>Nova<br>Fixed asset fund|£<br>2,555,105<br>23,799<br>35,120<br>5,000<br>14,874<br>(7,281)<br>-<br>2,901<br>At 1 April<br>2024|£<br>-<br>17,500<br>-<br>-<br>-<br>88,000<br>3,100<br>5,000<br>Income &<br>gains|£<br>(25,551)<br>(21,729)<br>(19,246)<br>(2,818)<br>-<br>(80,719)<br>-<br>-<br>Expenditure<br>& losses|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Transfers|£<br>2,529,554<br>19,570<br>15,874<br>2,182<br>14,874<br>-<br>3,100<br>7,901<br>At 31 March<br>2025|
||2,629,518|113,600|(150,063)|-|2,593,055|
||534,142|-<br>-|(14,738)|2,250|521,654|
||534,142|-|(14,738)|2,250|521,654|
||239,002<br>773,144|719,938<br>719,938|(650,496)<br>(665,234)|(2,250)<br>-|306,194<br>827,848|
||3,402,662|833,538|(815,297)|-|3,420,903|



30 



Tara Arts Group 

## Notes to the financial statements 

## For the year ended 31 March 2025 

## 20b Movements in funds (prior year) 

|Movements in funds (prior year)||||||
|---|---|---|---|---|---|
|Group<br>Total restricted funds<br>Total designated funds<br>General funds<br>Restricted funds:<br>Total unrestricted funds<br>Fixed asset fund<br>Young Company<br>Nova<br>Sweetmeats<br>Bloomberg<br>Aziz Foundation<br>Designated funds:<br>Fixed asset fund<br>GLA / Wandsworth Grants<br>Abdul Shayek Fellowship<br>Total funds<br>Silence Tour|£<br>2,580,914<br>34,930<br>63,770<br>2,291<br>-<br>-<br>-<br>-<br>-<br>At 1 April<br>2023|£<br>-<br>10,000<br>25,000<br>8,700<br>5,000<br>15,000<br>88,000<br>4,000<br>2,901<br>Income &<br>gains|£<br>(25,809)<br>(21,131)<br>(53,650)<br>(10,991)<br>-<br>(126)<br>(95,281)<br>(4,000)<br>-<br>Expenditure<br>& losses|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Transfers|£<br>2,555,105<br>23,799<br>35,120<br>-<br>5,000<br>14,874<br>(7,281)<br>-<br>2,901<br>At 31 March<br>2024|
||2,681,905|158,601|(210,988)|-|2,629,518|
||549,578|-|(15,436)|-|534,142|
||549,578|-|(15,436)|-|534,142|
||133,368|672,728|(567,094)|-|239,002|
||682,946|672,728|(582,530)|-|773,144|
||3,364,851|831,329|(793,518)|-|3,402,662|



31 



Tara Arts Group 

Notes to the financial statements 

## For the year ended 31 March 2025 

## Purposes of restricted funds 

## 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 reduced by an annual depreciation charge. 

## Young Company 

A production devised by Tara Theatre’s company of young artists aged 18-25 years old. 

## Bloomberg 

A programme of work supported by Bloomberg Philanthropies to research and create digital content in order to test and develop a digital audience engagement strategy. 

## Nova 

A seed commission programme for writers of South Asian heritage. 

## Sweetmeats 

A grant provided by Cockayne Grant for the Arts toward the production of Sweetmeats, a play by  Karim Khan. 

## Silence Tour 

An Arts Council England National Lottery Project Grant for Nationally Significant Projects for  Tara Theatre to tour the production of Silence during 2024-2025 

## GLA/Wandsworth Grants 

A grant provided by the London Borough of Wandsworth towards coffee mornings for Sanctuary seekers. 

## Abdul Shayek Fellowship 

The Fellowship is an industry-led training and development programme, set up in the name of Tara Theatre's late Artistic Director, which will equip mid-career directors with the experience and skills they need to take on leadership positions in our theatres. 

## Purposes of designated funds 

## Fixed Asset Fund 

This fund represents the net value of fixed assets held in unrestricted reserves 

## 21 Operating lease commitments payable as a lessee 

The group's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods: 

|<br>the following periods:|||||
|---|---|---|---|---|
|One to five years<br>Less than one year|2025<br>2024<br>£<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>Property||2025<br>2024<br>£<br>£<br>-<br>166<br>-<br>-<br>-<br>166<br>Equipment||
||-|-|-|166|



32 



Tara Arts Group 

Notes to the financial statements 

## For the year ended 31 March 2025 

- 22 Legal status of the charity 

The private limited company is  limited by guarantee, registered in EW - England & Wales and has no 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 2025 there were 8 members (20234 - 8). 

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