The Trustees present their report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charitable company's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)".

The objectives of the Charitable company are the advancement of education and the promotion of the Argentine Tango for the public benefit by way of financial or material assistance, encouragement and support for the music and dance of the Argentine Tango, to individuals and groups, whether in the UK, USA, Argentina or elsewhere, as the Trustees shall from time to time in their absolute discretion think fit.

The aims of the Charitable company are for the public benefit, as the intention of the Charitable company is to positively impact on the lives of individuals and community groups, in the UK, USA, Argentina or elsewhere.

The Trustees have confirmed that they have given due regard to the Charity Commission's public benefit guidance in deciding what activities the charitable company should undertake.

Achievements and Performance

The year to 31 December 2024 saw donations received of £921,208 (2023: £nil). The donations came in the form of an expendable endowment from a company under the ownership of trustee, Dr. Elmaleh.

The charitable expenditure for the year amounted to £355,126 (2023: £362,901).

During the year to 31 December 2024, The Argentine Tango Society (ATS) continued its firm commitment to preserving, promoting and disseminating the traditional Argentine tango. Through the institutional and logistical support of ATS, a broad program of artistic, academic and social activities was developed in the City of Buenos Aires, consolidating the Salón Marabú as an epicenter of contemporary tango culture.

The following activities were carried out by ATS during the year:

1. Throughout the year, Radio Marabú, the first online milonguera radio station, remained active, broadcasting music 24 hours a day and special programs dedicated to disseminating tango in all its forms.

2. The Salón Marabú opened its doors year-round, offering milongas organised by leading figures of the scene. This included live orchestras, tango classes and performances, consolidating a space of excellence and high artistic quality.

3. Held the International Tango Studio Congress, a week long of intensive classes followed by a Gala performance.

4. The "Ladies Tango Week" congress was held, bringing together renowned maestros, orchestras and dancers.

5. A celebration of 30 years of Graciela González's seminars was held with master classes and special tributes.

6. Presentation of "Milongueando," the Marabú's first Inter-Milonga Championship, aimed at promoting and preserving ballroom tango.

7. Start of the Tango and Parkinson Workshop, every Tuesday afternoon, reaffirming the space's social and inclusive commitment.

8. Celebration of the Milongueando Championship. The event, voted for by the public, significantly revived the off-season of Buenos Aires tango.

9. The Salón Marabú was used as the official venue for the Buenos Aires Tango Festival and World Cup.

12. The Salón Marabú officially obtained the CocinAR Seal of Tourism Excellence, becoming the first tango hall to receive this distinction from the Ministry of Tourism, following exhaustive evaluations.

13. Second edition of the D'Arienzando Festival was held, with more than 20 artists on stage, a duel of milonguera orchestras, and exhibitions featuring music from the "King of Compás."

The Statement of Financial Activities set out on page 5 of the financial statements shows how ATS's incoming resources have been expended in the year ended 31 December 2024.

Total incoming resources amount to £932,324 (2023: £12,793) which comprised donations of £921,208 (2023: £nil) and interest receivable of £11,116 (2023: £12,793). The donations came in the form of an expendable endowment from a company under the ownership of trustee, Dr. Elmaleh.

Expenditure amounted to £355,126 (2023: £362,901) with £323,333 (2023: £332,514) having been defrayed on direct charitable expenditure and £31,793 (2023: £30,387) on governance costs. An analysis of resources expended is provided in notes 3 to 7 of the financial statements.

The resulting surplus for the year was £577,198 (2023: deficit of £350,108).

The Statement of Financial Position set out on page 6 of the financial statements shows the financial position of ATS at 31 December 2024.

Current assets are represented by cash at bank of £703,608 (2023: £106,189) and other receivables of £18,543 (2023: £55,794).

Total assets less current liabilities amount to £709,851 (2023: £132,653), which is represented by the accumulated balances on the expendable endowment funds of £700,000 (2023: £129,979) and the unrestricted income fund of £9,851 (2023: £2,674).

The endowment funds are held to generate sustainable income in order to support ATS’s activities, although they may be spent if the trustees so determine. The net assets of the unrestricted income fund are to be applied towards ATS’s grant making activities and to meet ongoing overheads and administrative expenses. During the year, £351,157 was transferred to the unrestricted income fund from the expendable endowment funds to defray charitable expenditure for the year.

Reserves Policy

ATS is committed to using its resources in pursuit of its charitable objects. It is also committed to maintaining a level of free reserves which is prudent to meet on-going liabilities sufficient to ensure that its grant making commitments can be met and to protect the long-term future of its activities. The trustees consider that the year end closing balance on all funds of £709,851 is adequate for the size of ATS’s activities.

ATS is a private limited company by guarantee without share capital, with company registration number 08346355, and is governed by its Memorandum and Articles of Association. ATS is also a registered charity, with charity registration number 1151438. The registered office is 5th Floor, 3 Dorset Rise, London, EC4Y 8EN.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Membership is open to any organisation or individual who possesses the necessary knowledge and skills to act as a Trustee of ATS. At the present time, ATS has three Trustees, which is considered adequate for its purposes.

Trustees are expected to identify their own training needs and to take measures to ensure that these needs are met.

ATS's policy is set by the Board of Trustees and its meetings are chaired by the elected Chairman, Dr Joseph Elmaleh. The Board meets at regular intervals to discuss and review the Charitable company's activities and other related matters.

ATS has two registered sister charities, in the States of New York and Vermont in the USA. The New York sister charity acts alongside the UK based charity in promoting and supporting Argentine Tango. The Vermont sister charity is presently dormant. Both sister charities have Dr Joseph Elmaleh as a Trustee.

The Trustees have assessed the major risks to which the Charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Charitable company has entered into qualifying third party indemnity arrangements for the benefit of all trustees in a form and scope which comply with the requirements of the Companies Act 2006.

ATS is to review its work annually and plans to continue its support and promotion of Argentine Tango for the foreseeable future.

The Trustees' report was approved by the Board of Trustees.

I report to the Trustees on my examination of the financial statements of The Argentine Tango Society (the Charitable company) for the year ended 31 December 2024.

As the Trustees of the Charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Since the Charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:true

accounting records were not kept in respect of the Charitable company as required by section 386 of the 2006 Act; or

the financial statements do not accord with those records; or

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Use of this report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My independent examination work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my independent examination work , for this report, or for the opinions I have formed.

Investments

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The Argentine Tango Society is a private limited company by guarantee without share capital, incorporated in England and Wales, with company registration number 08346355, and is governed by its Memorandum and Articles of Association. ATS is also a registered charity in accordance with the Charities Act 2011, with charity registration number 1151438. The registered office is 5th Floor, 3 Dorset Rise, London, EC4Y 8EN.

The financial statements have been prepared in accordance with the Charitable company's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)". The Charitable company is a Public Benefit Entity as defined by FRS 102.true

The financial statements are prepared in sterling, which is the functional currency of the Charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The unrestricted income fund consists of funds to be used for the purposes of the trust's objectives at the discretion of its trustees, and to meet ongoing overheads and administrative expenses.

The trust has expendable endowment funds, created by donations from the trust's principal donor, Dr. Elmaleh and a company under his control. The terms of the endowments allow the capital of the fund to be spent if the trustees so determine. The income generated by the funds held on endowment are unrestricted and are, therefore, included as part of unrestricted income for the year.

Donations and any associated gift aid claims are recognised as incoming resources in the statement of financial activities on a receivable basis.

Interest on bank deposits is included on a receivable basis.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charitable company to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Resources expended are included in the statement of financial activities on an accruals basis.

Direct charitable expenditure consists of expenses incurred directly in pursuance of the Charitable company's principal activity and support costs relating to this activity.

Grants payable to The Argentine Tango Society (New York) are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants.

Governance costs include those incurred in connection with running the Charitable company that enables the charitable activity to be undertaken.

Support costs have been allocated to the Charitable company's primary purposes of supporting the Argentine Tango community.

Expenses include VAT where applicable as the Charitable company cannot reclaim it.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

The Charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charitable company's statement of financial position when the Charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, which include other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the Charitable company’s contractual obligations expire or are discharged or cancelled.

Direct charitable expenditure

Music and video production, commissioning of artwork,

hosting of shows and events and related expenditure,

including refurbishment of dance hall

(Profit)/Loss on foreign exchange

None of the Trustees (or any persons connected with them) received any remuneration or were reimbursed expenses during the year.

Bank charges

Insurance

There were no employees during the year.

During the year, £140,708 (2023: £63,142) was donated to The Argentine Tango Society (New York), a US charity of which Dr Elmaleh is also a Trustee.

During the year donations totalling £921,208 (2023: £nil) were received from a UK company which is under the ownership of Dr Elmaleh.

During the year, a trustee advanced £98,000 on an interest free basis to support the Charity and cover its short term expenditure. The loan was was repaid before the year end (2023 : £17,330).