Company registered number: 2266134
Charity ￿gIStered number.. 299698
THE TACCMI-MORRIS CENTrE
TRUSTEES REPORT AND
UNAUDITED FINANCIAL WATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

The Tacchl4lorrfs Centre
Trustees Report and ilnaudited Anandal Statsnwts
For The Year Ended 31 March 2025
Pa9•
Charty Infomwtton
Trustee< ReFK)rt
Independent Examlnerfs Rep(wt
ststement ￿ Flnancial AthV[￿e$
Balan￿ Sheet
Notes to the Finanaal stateTh￿ts
8-11

For The Y••r End￿ 31 Mar(* 2025
John Fl&cher (Chabr)
JIM Baker
Helen Elliott
Jlll Venn
Mike HolrrE5
Graeme Ryan
Patn"dK West
Company Secretsry
john Fletd
Company P4umb•r
2266134
Ch•rfty Numljer
April Fbint
Pickeridge H￿1
Taunt
TA3 7BY
Indèpendent Examlner
Gavin Brown FCGI
Brunel Chartered Certif*d kcDuntants
3 Mam Polo House
CLM)k Way
Taunton
TA26

Company No. 2266134
Trust••s' R•port for The Year Ended 31 March Z025
The trustees, who a￿ also dlrEdors for the w¥poses of the C£¥npanies Art 2¢￿, present thelr annual re￿rt with the financial
statements of the chartty forthe year endaj 31 March 2024. The trustees have adoptal ￿ provlst¢ns ofAccoUn￿nQ and Reporting
by Charttle5: Statement of Recommended prattl￿ app16cabte to charity.es ￿parIng their a(rounts in accordan￿ wlth the Fsnanaal
Reporting Standard applicabk in the UK and Republic of Ireland {FRS 102}.
CHARThABLE OBJECTS
To promote, maintsin and advance eduoti¢)n part]￿lath by er￿Ul￿gIng the Art5 and Crafts and the use exchange and
understsn¢Jing of arttstic skills and taknts in a S￿rit of peKe and Mu￿al undetstsnding among all pery)le wlthwt distincbon of
natlon or ra￿ or polltlcal rellgious or other opintons and a￿uIre and 8￿pt property and rf and when it is available Sn particular
the house and property known as North Curry. Taunton, So[n￿￿ and endeavour to estsbjish and maintain there an Jntemational
Centre, Memorial Ilbrary. Craft Workshop. Theatre and ancillary educational raalrt￿s.
CHAR￿ABLE ACTIVITIES
The charlty provldes flnantial SUp￿rt￿* theTacchi-Morris Arts CenlTe at Monkton W￿1 Academy {previously known as Heathfield
CommunSty Sthooll and is party to a joint use agreement wlth sO￿￿rset County Cour￿1 arHJ John Cabot Venture knmlted (on behalf
of Monkton Wood Ac&Jemyl. In accordan￿ with that agre￿￿ent the ￿ntre is operated by a Manageryrnt Committee comprising
the trustees. three members aprw)inted by the County Council. one member apwnted by Taunton Deane Distrtt Coundl, the
Headteacher of the School and the cent￿ Dirthr.
ACHIEVEMEt4TS AND PERFORfvIANCE
The Tacchl Moms Trust continues to Sup[￿ the Centre through its Annual EndtswrT￿nt contributions.
Underpinning thls is a very careful ongoing rrK)nftoring rftheTrvsYs investments whith indudes an Annual Revlew wlth Ptytfollo
Managers to ensure optlmum r*rfOrman￿ wlthln an a(xeptable risk fvamewort( whith meets the targets necessary to fulfill the
Trust's commithent to the Centre. cUrren￿Y this 15 £72,(XIO ￿ annum. In a vohitile economtc global env5ronment thls
presents significant challenges.
Thi5 essential funding strdnd Is an Integral part ￿ the Centre's bu(W that indL¥Jes numerDu5 tnajme streams Includlng bcket
sales, bar sales etc- set against the oists of runnlng a very s￿LesSfUl Perf￿rning Arts Centre which reache5 Out to communities
both near and far - a wide rdnge of interest groups - that hdp to delÉver the Centre's Miss¥)n Statement. 'ExcetlerKe in the
Perfom)ing Arts..
The Centre's Dlrector, An¢Jy ￿JlIeYn and his suprAlrt team tr>Jether with our many invaluable volunteers contsnue to demonstrate
on a dally basis their excepb'onal commitment to the work of the Centre and on ￿hair of all the Trustees I extend our Sin￿
thanks to them.
As rewjrted In last Yearfs Revlew the Centre is now w(xknrvJ wlth the CatA)t Leaming Foundation and alongslde Monkton WOCKI
Acailemy (formerty Heathfield Communlty Schcd) with whtth the Centre shares the same Campus.
The Centre provides ¢rudal currfculum spKes to MWA for drama. dan￿ and must aThJ the Centre is availabje as a venue fvr
wlde rèThJe ofother sdKK>I activit￿s. The Centre DirthAThty Pullyn is availabje to all scknl stsff WIK) woutd like to take advantage
of the opportunities available.
In thls rEspect the Centre is embarknng on a era In twThs rf a wfjder managerrwt strutt￿re whilst maintainlng Its absolute
aLStonomy in pUtsuIr￿ tts missiork within the Perfornilng Arts. As ￿p)rtaI in last yearfs wlew a JUA has been successfvlly agweed
by the CLF and the Tacthi Morris Trust whKh is ￿.￿dIng on parves.
In thls last year a new Arts Pollcy has èlsj t￿1 agre&l that ernbTr￿ the values, works and Opportunt￿e5 offeretl by the Centre
and wtll hopefully encouTrge and ena￿e all the sdKxJs and other Interested groups wlthln the CLF to partake in the Ilfe of the
Centre. The potential is enormous.
Transitioning to the CLF administrative 5tnJctures requlres d05e communication wtth Senior Managanent. It Is particularty
Important to ensure the (x)mpibbility of the Centre's finarKSal wuire￿*nts akjngsde CLF prct8Jvresthu5 rnaintaFning the Centre's
Independence in all budgeting and accountin9 mattws. The Trustees firtarKlal c(Mnmlbnent are dosety tra(knl.
The Tacthl Morris Centre and Tru*es ￿lebrate 25 years SIr￿ the c￿tre or￿. It has gone frDFn strength to strength and we
look forward to the next quarter of a century.
TherE wlll be many Challeng￿ ahead, r￿t least flnandal ones. The Tacthi Mrxris team and the Trustees wlll endeavour to UpI￿ld
the valves that define u5 and which will conts"n¢Je to pn)vlde OLrtstanding ex[v￿1￿ for young people in the Perfomilng Arts.
Alongslde thls we aim to tYovKle imaginab.ve and Innovatlve Fwramming for the wider community
FINANCIAL REVIEW
The charity saw a Surplus of £34,367 {2024 - £98,097) on ￿ Investsmatt ￿}rtfolIO durfng the year. After grdntyng £30,LNJO (2024
- £100,234) to the Tatrhi-morris Arts Centre Management Commtttee arKJ paying supp)rt costs of £4,520 {2024 ~ EIO,0021 the
charity achiev*J a surplus of £575 (2024 - É12.139 deftcit>.

Company fio. 2266134
TTUgtees' Report for Th• Year Ended 31 Mawth 2025
The chartty held reseThes of £1.484,647 {2024 - £1.484,072) at the year end. or wh*h (£29.473) (2024- (£37,08911 wa5 held
In general funds and £1,514,120 (2024- EI,521.161) was hekl bn ￿rn￿￿ent en(k>wrrent.
The charitles F*m)aneftt endowment is held In an Investsnent wrtr(Ak> man&Jed by HSBC. Thetnjstees meetthe wrtfolio manager
annually to review the profile of the FM)rtfollo to ensu￿ that earnings will meet the ongoing cc4nmitment to contslbute to the
running of the arts ￿ntre.

Company No. 2Z66134
Trust¢es' Ryort for The Y￿r Ended 31 March 2025 (continued)
ConstltutloD
The chanty is consty"tuted as a company limrted by guarantee with(Mrt Sha￿ L3wtsI arKI is govern8J by mewmndum arK1 articl£
of aS￿CIatiOn incorporated 9 June 1988.
TTUStees holding office
The trustees who held office durlng the were as fdlows:
John Fletcher {Chalr)
JIM Baker
Helen Elllott
Jlll Venn
Mike Holme5
Graeme Ryan
Patrick West
statement on publlt bendlt
In shaping our objectives fvr the year and planning our adivi)es. the have co1￿k￿•1 the Charfty Comm6ssion s guldan
on publlc benefit, including tr￿ gUidan￿.pUb1IC benefit.. runnlng a chaffity {PB2)'.
The trustees are responslble for preparSng the Trustee¢ Re￿Xt atMI financfjal statema)ts In accordan￿ wrth appllcable law and
ulations.
Company law requlres the Inj5￿ to prepare flnandal statements for financlal year. Under that law the dlrectors have
elected to prepare the financtal statements In acc(Kdan￿ with Unit￿j ￿ngdorn Generally I￿pted Accounting prdttl￿ (United
Klngdom Attounting Standards aETrd appIta￿e law). Under company law the direLtors mvst not approve the finanoal statements
unless they a￿ satlsned that they grve a trne and fair view of the stste c* affair5 of the company and d the pr&ft or loss of the
company for that period. In preparing the financial ststements the d￿rert￿5 are requir￿1 to:
Sel￿t suitable acmunting policies and then appty them consistentjy,.
make judgments and accounting e5tsmates that are rea￿nable and wudent;
preparp the financTral statements on the Wng concern basis unless It 15 Inapwo￿ate to presume that the corrI￿nY wlll
contSnue In btsslness.
The thjstees are resFThsible for kewng adequate accounting rectjrts that a￿ sufficfjwt io show explaln the ￿MPan*S
transact(ons and disclose with reasonable accuracy at any Vme the fina￿tal ￿tion of the company and enable them to ensure
that the finanoal ststements compW with the Companies 2(￿￿. They are also reswjnsible for safeguarding the assets of the
company and hence for takong reasc¥Mble step5 for the kKevenb"on and ¢Jetecli￿ of fraud and othw Irrojulariues.
Small Com￿nY rules
This ￿{K)rt has been p￿pared In aCcOrdar￿ with the Sp￿al t￿0VIsIonS relatiThJ to (K*npanles subJ&t to the small companle
Ime wlthln Part 15 of the Companles Act 2(#J6.
On behalf of the txjard
John Retcher
Chabr
Date
Page 4

For Th• Year Efided 31 Marth 2025
I report to the charlty on my examination of the ac£wnts ￿ The Tac£hi-Morris Centre ts the year en(kd 31 March 2025.
Responslbllltles and Imsb of reportr.
As the charity's tnjstees of The Tacchi-morris Centre {wlK• are also the d1￿ of the crynpany for the purposes of tompany law),
you are reswnsible for the pre￿ratIon ofthe &counts in accordan￿ with the ￿UIreMents rKthe Companles Act 20c6 fthe 2006
AcV}.
HavSng satisfied myself that the accounts of the Company are requlred to L* audlW for thts year under Part 16 of the 2LK)6
Act and art ellglble for I¥MIe￿ndent examlnation, I rew)rt in respect of my examination of your cha￿ty,$ accounts as carrid out
under sethon 145 of the Charities Att 2011 ("the 2011 Acr. In carrying out my examination, I have followed the dlrecuons given
by the Charlty Commission (under sertfion 145{5)It*l of the 2011 Att.
I have completed my examlnatlon. I confirwn that fKb matetsl matters have to my attentlon vA)ith gNe5 me cause to believe
that..
Ac£ounting reo)rds were not kept in aLt(xdanry with section 386 c* the Companies Act 2(i16; or
The accounts do not accord with suth rKon1s: or
The accounts do not (DmrAy with ￿evant aLrounting requirements uThJu settion 396 of the Companies Art 2006 other
than any ￿ul￿ement that the acwunts gNe a 'true and fvirf vlew whkh is not a matter considered as part of an
Inde￿ndent examlnation; or
The accounts have not t*en preparvj In aLr0rdan￿ with the Charities SORP (FRS102>.
I have no con￿m5 and have come across no other matters in conneLtion with the examinatk)n to whlth aitenkn S￿1￿ tE drawn
In thls ￿pOrt in order to enable a pr4Er understandlng of the accounts to be r63th8J.
11[1212ts?r
Gavln Brown FCCA
3 Marco Poktr H¢)use
Cook Way
Taunton
TA2 6BJ

The TacchI￿Orrf9 Centre
For The Y•ar Endod 31 Mar(* 2015
Totsl
funds
2025
Totsl
fundg
2024
funds
funds
INCOME
Ineomt and endqhyrnnts from:
Dividends
Bank compensatson payment
Donatr"ons
Bank Inte￿St
39.576
39,576
37,785
729
Total
729
39,576
40,305
37,785
EXPENDrnIRE
Ra151ng fvnds:
Investment portfolio management costs
AIIoG4ted support costs..
Bank charges
Accountsncy fees
Other costs
9.766
9.766
10,4T/
73
73
900
1,287
1,287
4,068
1260
9.766
11026
15h78
charItab￿ *Ovltle&'
Arts &ntre grant
Allocated supkxrt (x)sts'.
Bank charges
Accountancy fees
other costs
30,000
100,234
73
73
33
1.288
4,068
105,235
261
32,261
T¢)tsl
34.521
9.766 44,287
120.713
NET INCOME/(EXPENDrnIRE) BEFORE INv￿rmENT
GAINS/(LOSSES)
Net galnsl(tosses) on I￿V￿trnents
{33.792)
29￿10
(3,982) (82,928)
4,557
4,557
70,789
NET INCOME/(EXPENDrniRE)
Trdnsfers between fund5
(33,792)
34367
575 (12,139}
41,4
(41,408
NET MOVÈMENf IN FU14DS
7,616
(7,041)
575 (12,139}
RECOP4CILZAT1014 OF FUP4DS:
Total fijnds brought forward
(37.089)
1.521,161 1,484,072 1,496.211
TOTAL FUNDS CARRIED FORWARD
(29Mn) 1.514120 IW,647 IM84.072
The notes on pages 8 to 11 fcrn part cl the* finaThJal ststements.
Page 6

Balance Sheet
As at 31 March 2025
2025
2024
FIXED ASSErs
Tangible assets
Investments
35
1 519 120
35
1.526,161
1.519,155
1,526,196
CURRENT ASSErs
Debtor5
Cash at bank
7.389
Creditors". Arnounts falllng due wlthln one
(41W7)
{41124)
NET CVRREln UABILfnES
(34,508)
42,124
72
1,484,647
1.484,on
FUNDS
UnrestriLted funds
EndowEtEnt funds
(29,473)
1.514,120
(37,0891
1,521,L61
TOTAL CHARrrY FUNDS
1884,647
1084072
For the year endlng 31 March 2024 the company was entitl*J io exemk*pJk from audit UFNler saxion 477 of the Companles Art
2006 rela￿ng to small companie￿.
Trustees. re$ponslbiliti•s:
The rremtrers have not Nuired the ccfflpany to obtsln an a￿lt In acCtrthn￿ wlth seckn 476 of the Companks Act
2006.
The trustees ad(nowledge th￿"r res￿)n$￿.11tieS for c(ffi)￿YOThj with ￿ ra]ulrema)ts ￿ the ALt with resrn to
accounting ènd the preparation rf accounts.
These accounts have been prepared in accordan￿ with the pro¥lslons aWiLable to companfjes Sub￿ to the gn811
companleg re91￿* and In accordan￿ wlth FRS102 SORP.
On t*half of the board
John Fletcher
Chair
Date
The note5 on 8 to 11 fomi part of these finanoal siatements.

The Ta¢¢hi-Morris Centre
For The Year Erbded 31 2025
l. Accrfwntlng Pollcl¢%
1.1. Basls of prepar￿9￿ of flnanclal statements
Tkse attounts have been prepared under the historical cost cowwthon. as mcélfied fvr the revaluatKJn of flxed agset
investments. with items r&iNJnised at cost ￿ transaction value and have been preparal in accordan￿ with:
the StateF[￿nt of Recommended Practke: Acc(MJnting and Retth"ng by Charities preparing theSr accounts in accordance
wtth the Financial Rerx)rting Stsndard applicable in the UK arKI Republic of Ireland (FRS 102).
the Financial Repo￿"ng Stsndard appli(xbk in the un￿t￿l ￿.￿gdoM èrKI RepubtK of ErdaThJ {FRS 102).
and wlth the Charities Att 2011.
1.2. Xn¢om•
Income Is recognised In the Statement of Flnancfjal Actfjvltles {SoFA) vthen:
the charity b￿￿oF￿ entitled to the resourtes:
It Is more 1Skely than not that the trustees wlll recave the re￿NAr￿.
the monetary value can be nwsurEd with sufficient reliabilty.
1.3. Expendltyre
abllities a￿ reujgnised where (t Is I)K￿e likely than not that there Ls a legal or (Jmstruthve obligation commrtkn.ng the
tharSty to pay out resources and the anw)unt of the obli93tK￿ 13n be nwsuraj with rea$C#￿ble certsinty.
Support Costs
Supwrt costs Indude central functI￿S an(1 have teen allctated to ￿tIvity cr6t categories on a bas(s consistent wlth the use
of resources.
1.4. Tangible fixed arbd depreclatlon
Tangible fixed assets are measured at cxyst less acatMUla￿ deweoabon and any accumulated impairn)ent losses.
Depredation is provideil at rates calculattyj to wrrte off the cost of the fixed assets. less th￿r estimated restdual value. over
thetr expected useful live5 on the following bases."
Orna￿￿nts. bcoks etc
15% ￿ the ra1￿1ng balan
Investrnents are Indtyjed at closing mak*et value in the balan￿ sP￿rt. any 9ain or 105s on InveSth￿fit Is tryltted or tharged
to the Statement of ￿na￿al Actb¥￿e5.
1.6. TaMtio
The charfty is exempt from Ccryratyon Tax osl its djarts￿e actfjvfjtles. Value Added Tax is not recovwable by the charlty
and as suth ts included in the relevant Costs in the ￿nts.
1.7. Fund accounting
Unrestr4cted funds are available for use at the dlmtk)n of the tsustees in fvrthernn￿ of the genernl obfrtlves of chatty
and which have not tvn designated for other purrK)ses.
El￿OWment funds are Invested In order to werate suflkknt irKome annually tr) meet the tharivs commÉtment to
conffibute to the runnlng of the arts centre.
2. Trustees Remun•ratlon and Expens•s
No remuneratlon or other benefits from the charty were received by the trv5tees during the current or pr￿dIng year. The
Charity has not met any indFvidual expenses Incurr￿ by the tnjstees during the ￿rrent or pr￿EdIng year.
3. Employee Numbers and Remuneratlo
The average numter of employees. Indudlng dlrths, during the year was a5 follows: nil {2023'. nil). No em￿oyee re￿[V￿1
emoluments mre than £60.000.
Page 8

Notss to the Flnandat Stat¢meTrts {contInU￿)
For Tht Year Ended 31 M•rth 2015
Tanglbk Assets
OrnaEneTrts,
As at l April 2024
5,275
As at 31 March 2025
5,275
Dtprecigtlon
As at l April 2024
5,240
As at 31 Marth 2025
5.240
Net Book Value
As at 31 March 2025
35
As at l April 2024
35
2025
2024
Market Value at l Aprfl 2024
Income receSveJ
Management charges
Wlthdrawals
Revaluation gatnsl{k6ses)
1,526.161
39,576
(9.7661
I41,4(￿)
4.557
1,501,720
37,785
(10.477)
(73,6561
70.789
Market value at 31 March 2025
1.519,120
I￿26,161
Inve5trnents at mat*et value comkvlse:_
lftve5tment propety - land at White Street North Cuny
HSBC managaj Investment wrtfolio- Lfstey shares aThJ unit trusts
HSBC manaoed investment ￿)rtfoliO - Qsh
1.495.505
18,615
1,482,615
38,546
1,519,120
1,539,024
1,526,161
1,539,024
Hlstortcal C05t as at 31 Marth 2025
6. Debtors
2025
2024
TMAC repayment
Prepayments accrued irKome
7. Credltors: Amounts Falllng Due One Year
2025
2024
Bank overdraft
Grant payable to arts ￿ntre
Accn•ls and deferred Income
227
40.097
1,800
40.097
1,800
41W7
41124
dge9

The Tacch141orrls Centre
Not•s to the Flnanclal Statsments {eorbtlnyed)
For Th• Yéar Ended 31 MaY¢h 2025
. An•tysls of charItab￿ Funds
8.1 Mowmert In fvmls
G•lns/{losseg)
n•1￿ At 31 Mar
2025
General fund
Rev8luati¢)n reserve
(41.103)
4.014
729
(34,521)
41,408 (33,4871
4,014
UnreStfiC￿ funds
(37.089)
729 (3*5ZI)
41A08 (29,473)
Ta(rhl-Mcfrfs Arts Centre Fu￿1
1.521.161
39.Y16
9.766
4 557 (41.408
l 514,E20
IA21.161
39.576
(9,766
4,557
41 408) 1.514.120
Totsl Charlty fvnd8
1884,072
40.305
44287
4,557
1,484,647
8.2 Analysls of not a6s¢ts between fvnds
UnreStrIrt￿ Endowmenf At 31 Mar
lunds
funds
2025
Year ended 31 fvlprch 2025
Tangible assets
Investments
Current assets
Creditors less than l year
35
35
1.514,120 1.519,120
7.389
41,897}
7,389
41,897
29h73) 1,514120 1,484m7
Vnrestricted Endowm•rt At 31 Mar
funds
funds
2024
Year énded 31 March 2024
Tttngible assets
Investments
Current assets
Credltors ￿ than l year
35
35
1,521,161 1.526,161
42.124
42,1241
(37.809
1,521,161 1 484.072
.3 Detalls of funds
Tawhl-morrls Arts Centr¢ Fund:_ This fvwKI vms establlshed to ￿erate IrKome ad￿uate to meet the dwrfty's ongoing
¢xMnmrtrnent to the running costs of the arts cth a￿1 Is Inves￿￿ in a manag&J Investment portrollo wtth HSBC.
Page 10

Not•s to the Financial Slatements {¢ortlnu•d)
For The Y•aT Endèd 31 March 2025
9. Commltmonts
The chaiity's contributlon b) the cc6ts of o￿Oting the arts wtre are agfeaj in the Managerrent Commritee budyet annually
and paid quarterty. The arnount committed for the year endlng 31 March 2026 19 £72,1￿. Nldrtlonally, the trust may be
requlrvj to contribute to any defidt over the ￿ntre'S b￿1get.
10. R•lat•d Party TransxtloTrs
The charlty awar￿1 grdnts of £30,{￿ (2024- £100.234) to the T￿ch1-MOrrIS Arts Centre manag￿nt Comm6ttee, a Jolnt
venture between the charity, Monkton W0C￿ Acadany and the cat￿ L&irning FounL1atron.
11. Company Limit•d by Guarartee
The charfjty Is a o)mpany Ilmlted by guardntee and dces ￿t have share (Jpital. Each memberfs guaraFttee 15 lirnlted to £1.
Page li