## **REGISTERED COMPANY NUMBER: 02170819 (England and Wales) REGISTERED CHARITY NUMBER: 1049574**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR**
## **FORCED ENTERTAINMENT LIMITED**
Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|6|
|**Independent Examiner's Report**||7||
|**Statement of Financial Activities**|8|to|9|
|**Balance Sheet**|10|to|11|
|**Cash Flow Statement**||12||
|**Notes to the Cash Flow Statement**||13||
|**Notes to the Financial Statements**|14|to|24|
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report and the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principal activity of the company in the year under review was that of the advancement of education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama, and to present, promote, organise, provide, manage and produce dramas, dance, operas, films, broadcasts, concerts, musical pieces, entertainments, exhibitions, tutorials, seminars, courses and workshops, whether on any premises of the company or elsewhere.
The object for which the company is established is "to advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama". Forced Entertainment's aims and objectives in its current three-year plan are:
## **Artistic programme and practice**
- Make new original devised performance works.
- Tour new and existing performance works nationally and internationally, developing new markets and partnerships alongside existing ones to sustain its practice.
- Create the best possible conditions for the process of artistic dialogue, creation and exchange within the group and with guest collaborators.
- Nurture new, diverse and emerging talent.
## **Participation and audience development**
- Develop the range and depth of audiences for contemporary theatre with ambitious audience development objectives for both live and online audiences.
- Produce a targeted and content rich marketing and communications strategy to build audiences, foster debate and encourage engagement with the group's work.
- Open up creative opportunities for people outside the context of the regular company, develop new ideas and pass on the ways of working and thinking that come from our practice.
## **Management, finance and governance**
- Secure investment for the planned programme of activity.
- Maintain a sustainable business model to deliver the planned programme to audiences.
- Maintain and develop appropriate infrastructure and management and governance best practice to support the artistic work.
Page 1
## **FORCED ENTERTAINMENT LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRATEGIC REPORT**
## **Achievement and performance Charitable activities**
## **Programme of work**
2020-21 was a devastating year for the arts sector, with the COVID -19 pandemic rendering live performance all but impossible both in the UK and internationally. This report outlines our experience and achievements in this very exceptional year.
Over March and April 2020 all the Company's touring and participation work for the year was cancelled and we had to postpone the creation of the new group performance piece 'Under Bright Light' twice, first to March 2021 and again to March 2022. Our key participation project with marginalised young people in Sheffield, "Subject to Change', was put on hold.
The response at Forced Entertainment was to reach out to partners, stakeholders and audiences immediately, acknowledging the unprecedented circumstances and making the necessary contingency plans and actions. Artistically we set about creating opportunities to keep a strong connection with audiences remotely and were successful in engaging substantial audiences at home and internationally with our digital work in a crowded market place.
Close collaborations with UK and international partners also helped to maintain our network, and thanks to their financial support our online offer was made free for audiences.
Over the year we:
- Created a new online work 'End Meeting For All' supported by our German Co-producer network, which was presented in three episodes over April-May 2020.
- Collaborated with the British Council to deliver 'Table Stories', a workshop and mentoring offer for women-identifying and queer-identifying people in Nepal and Sri Lanka, inspired by Complete Works: Table Top Shakespeare project.
- Re-staged 'Complete Works Table Top Shakespeare' in a new 'At Home' series broadcast 'live' over nine weeks from September to November 2020, bringing together 10 international partners to secure £52,784 in co-production income and raising £7,360 in individual donations. The series was accompanied by a raft of workshop and engagement opportunities across the nine weeks, delivered face to face with communities in Sheffield and elsewhere to teachers, students and artists online.
- Initiated an Instagram series of 'Empty Stages'; the photographic project created by Tim Etchells and Hugo Glendinning, through March and April 2020.
- Produced a smaller-scale internet performance by artistic director Tim Etchells - 'King of the Ventilators' with writer Chris Thorpe and performer Jim Fletcher (financially supported by Forest Fringe, Cambridge Junction, Colchester Arts, Onassis Cultural Centre NY, Teatro Bario Alto, Lisbon).
## **Audiences**
In audience and engagement terms the impact of our online activity over the year was strong. We received very positive feedback whilst learning a lot about creating and presenting work for digital audiences:
- 'End Meeting For All' attracted over 22,000 YouTube views over April-May 2020; there was an increase of over 100% in visits to our website in the same period, whilst new followers increased steadily on all social media channels with reach and engagement on Twitter almost doubling from the previous quarter.
- 'Complete Works Table Top Shakespeare At Home' attracted 54,873 unique views across all partners (for premieres and catch up combined), and 4,340 new viewers to Forced Entertainment's website. Through data analysis we calculated that at least 11,523 viewers watched a full play to the end; this was 21% of all views and an average of 320 views per play; a good benchmark for future projects.
- In both the online projects approximately 35% of online audiences were drawn from the UK, and the remaining with strong representation from partner countries including the US, Italy, Germany along with wider Europe, South Korea and Japan.
Page 2
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
- Recognising the extreme difficulties of practice teaching during lockdown, as faced by colleagues and students of theatre, we delivered 13 free sessions to university and secondary schools teachers exploring models of our online theatre practice. In total across the year over 700 engagement, participation and mentoring sessions were delivered to a range of UK and international participants.
## **Management and Governance**
The management team currently comprises three employees. The Office Manager and Marketing & Communications Manager left in 2020 and recruitment to their roles was suspended because of the ongoing uncertainty of the pandemic. To support activity and to keep our profile and communication with audiences strong we have:
- Drawn on the skills of freelancers Sarah Cockburn (who led the campaign for the 'Complete Works' at home project) and Sam Scott Wood (consulting on data analysis and reporting).
- Extended our relationship with Nicki Hobday who provides social media services on a monthly retainer; Nicki's in-depth knowledge of the work and her playful approach to the social media communications is a huge benefit as we work mostly online currently.
- Utilised the wider skills and experience of the Executive Director and Production Manager to take on other responsibilities.
Over 2020-21 we have supported the freelancers that are vital to our organisation - keeping performer Jerry Killick and performer/social media marketing Nicki Hobday on paid retainer arrangements, as well as finding ways to employ other artists where possible on digital and other projects.
A review of the management team will form one of the actions in our 2021-22 business plan as we seek to understand the resource implications of the ongoing COVID-19 situation on our business. We have allocated budget to increase staffing in the second half of the year, and will ensure that our recruitment process is designed to help diversify our workforce.
Alongside our artistic work for online audiences and participants we also continued our planning and organisational development work.
- We undertook a further board recruitment process and have recruited one new board member Lauren Nicole Whitter, who brings a range of skills and knowledge to the board from her own practice, work as a lecturer and connection to Sheffield. - Board membership in 2021-22 comprises 67% women and 33% Black and people of colour.
- We held a series of five strategic planning conversations with the artistic and management team and board, to interrogate our practice relation to the themes of environmental sustainability, diversity, distribution, impact and legacy and the COVID-19 pandemic. Actions arising from and building on these discussions will feed into our planning over the next five years.
- Our ongoing strategic planning process will continue with a Board awayday in May 2021, in which we will use the ACE Investment Principles to help create a planning framework. This will be followed, in summer 2021, with the production of our 2022-23 business plan and later in the year with our application to ACE's National Portfolio 2023-26.
After 36 years of influential, artist-led practice steeped in the culture and politics of the times, this strategic review was a timely reflection on significant societal changes that have taken place in the last year, and how relevant and compelling an impact Forced Entertainment is able to make going forwards. Feedback from peers, audiences, partners and other stakeholders - both from within and outside the company's orbit will play an important part in our planning for the coming years.
Page 3
## **FORCED ENTERTAINMENT LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **STRATEGIC REPORT Financial review**
## **Financial position**
The financial impact of the cancellation of our planned programme due to the COVID-19 was the loss of £275,000 of earned income which represented 51% of total forecast income in 2020-21. As a dynamic and resourceful organisation, able to adapt and respond to changing circumstances, the company has been able to remain on a secure financial footing through: - ACE NPO regular funding of £254,000.
- Access to the government's job retention scheme which has provided approximately £171,000 in furlough grants.
- Staff agreeing a temporary 20% reduction in salary from April - August 2020.
- Raising £71,469 international co-production income for the digital projects we created and produced.
- Launching our first major online fundraising call alongside the new digital performances which raised over £9,000 in individual donations across all projects.
- A recruitment freeze for the posts of Marketing & Communications Manager and Office Manager.
The statement of financial activities included in this report presents a turnover of £683,007 for 2020-21. Income and expenditure for charitable activities generated a surplus of £243,769; £98,100 is unrestricted and £145,669 is restricted income.
Of the £145,669 is restricted income this year, £92,005 is for participation projects (£77,005 from Paul Hamlyn Foundation towards delivery of activity with local young people) and £58,654 is for agency artistic project delivery.
The statement shows the consolidated position for all funds of £505,298.
## **Principal funding sources**
To achieve the planned programme, annual budgets are modelled on average predicted levels of 55% earned/contributed income and 45% ACE subsidy. Clearly this year our usual business model has been severely impacted because of COVID-19. We have been able to access a small business rates grant of £10,000 as well as grant finding from the Coronavirus Job Retention scheme of £171,000 which has helped to mitigate against the earned income losses we have suffered in 2020-21.
In 2020-21 Arts Council England National Portfolio Funding represented 37% of turnover (42% in 2019-20) - maintaining a low ratio of subsidy to earned/other income that is exceptional and exemplary in a such a small artist-led organisation.
## **Reserves policy**
At 31 March 2021, total reserves represented by unrestricted funds were £359,629 (2020: £261,529). Of these, designated funds were £72,652 (2020: £85,576) and general funds £286,977 (2020: £175,953). The designated funds represent funds earmarked for ongoing projects and are being spent down over a number of years.
Restricted funds total £145,669; the participation restricted fund comprises trusts and foundations funding totalling £92,005 and the agency restricted fund for external artistic projects is £53,664.
The reserves policy is to hold general funds equivalent to a minimum of three months' general fund expenditure. As at the 2020-21 year end, this has been achieved with the general reserve equivalent to 6 months' expenditure (2020: 3.5). These reserves are needed to meet significant future uncertainty as a result of the coronavirus pandemic, as well as plans and working capital requirements should there be a material deficiency in funding at any point in the future. The financial commitment to fulfilling redundancy payments in the next year 2021-22 is £132,718.
.
Page 4
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Forced Entertainment Limited is a company limited by guarantee (company no. 02170819), governed by its Memorandum and Articles of Association dated 30 September 1987 and amended to allow the current governance on 21 August 1995 and 16 May 2012. It is registered as a charity with the Charity Commission (registered charity no. 1049574).
## **Recruitment and appointment of new trustees**
As set out in the Articles of Association, the Company and Board of Trustees nominate the Chair of the Board. A trustee's term of office terminates if any rules in 6.6 of the Articles of Association apply. When considering recruiting new trustees, the board considers any specialist skills or experience that may be currently under-represented.
## **Organisational structure**
The Board of Trustees, which currently has six members, administers the charity. The Board meets quarterly and the pay and remuneration sub-committee meets annually. Other issue-specific meetings may be convened during the year as required. The artistic policy is decided on by the creative team (Writer/Artistic Director Tim Etchells, Designer/Performer Richard Lowdon and Performers/Co-devisors Robin Arthur, Claire Marshall, Cathy Naden and Terry O'Connor). The board and company appoint an Executive Director (Eileen Evans), Participation Producer (Imogen Ashby) and Production Manager (James Harrison) to manage the day-to-day operations of the charity. To facilitate effective operations, the Executive Director has delegated authority, within terms and conditions approved by the trustees, for operational matters including finance and employment. employment.
## **Trustee induction and training**
New trustees will receive induction training to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the business plan and recent reports on the financial performance of the charity. During the induction training they may meet key employees and other trustees. The trustees have had due regard to guidance published by the Charity Commission on public benefit.
[Note on terminology: when this document refers to 'the company', this includes the creative and management teams of Forced Entertainment Limited. 'Trustee(s)' is shorthand for the members of the board, who are both directors and trustees of Forced Entertainment Limited.]
## **Risk management**
The Company and Board plan for and anticipate risks through a process of artistic, organisational and financial planning which is supported by a three-year business plan, annual organisational plans, a health and safety policy and an annual budget that is reviewed quarterly. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the trustees, combined with internal measures covering the setting and revision of budgets and the authorisation of payments.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
02170819 (England and Wales)
## **Registered Charity number**
1049574
## **Registered office**
Unit 502 The Workstation 15 Paternoster Row Sheffield South Yorkshire S1 2BX
Page 5
## **FORCED ENTERTAINMENT LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021**
**Trustees** F H Babbage D J Chadbourn A J Friedli M K Harvey (resigned 8.7.20) D J Kok A E Lloyd I Hirst **Company Secretary** E Evans **Independent Examiner** Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND **Bank contact details** Unity Trust Bank plc Nine Brindleyplace Birmingham. B1 2HB
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 1st October 2021
.......................................................................... E Evans - Secretary
Page 6
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FORCED ENTERTAINMENT LIMITED**
## **Independent examiner's report to the trustees of Forced Entertainment Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACCA 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts 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 accounts to be reached.
David Stansfield ACCA Sedulo Leeds Limited St Paul's House 23 Park Square Leeds West Yorkshire LS1 2ND
3 December 2021 Date: .............................................
Page 7
## **FORCED ENTERTAINMENT LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Grants and awards
2
451,737
**Charitable activities**
5
Touring and production income
63,758
Royalties
-
Participation income
2,000
Agency fees
3,185
Other trading activities
3
11,463
Investment income
4
205
Other income
-
**Total**
532,348
**EXPENDITURE ON**
Raising funds
6
117
**Charitable activities**
7
Direct costs fees wages and expenses
323,872
Production costs
20,140
Premises overheads
16,563
Administration office costs
6,562
Building costs and insurance
10,850
Personnel
1,708
Touring costs
3,756
Retail costs
353
Marketing
19,789
Participation
-
Governance, legal and compliance
6,070
Forced Entertainment award
5,000
Publication
15,572
Organisational development
1,603
Fundraising fees
750
Other
1,543
**Total**
434,248
**NET INCOME/(EXPENDITURE)**
98,100
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
261,529|Restricted
funds
£
92,005
58,654
-
-
-
-
-
-
150,659
-
-
4,990
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,990
145,669
-|31.3.21
Total
funds
£
543,742
122,412
-
2,000
3,185
11,463
205
-
683,007
117
323,872
25,130
16,563
6,562
10,850
1,708
3,756
353
19,789
-
6,070
5,000
15,572
1,603
750
1,543
439,238
243,769
261,529|31.3.20
Total
funds
£
256,750
257,027
2,057
18,755
281
3,621
671
54,837
593,999
-
375,221
36,184
17,525
6,245
11,049
4,136
123,482
944
22,775
27,794
12,895
13,203
2,300
3,955
3,000
2,057
662,765
(68,766)
330,295|
|---|---|---|---|
The notes form part of these financial statements
Page 8
## **FORCED ENTERTAINMENT LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**TOTAL FUNDS CARRIED FORWARD**
359,629|Restricted
funds
£
145,669|31.3.21
Total
funds
£
505,298|31.3.20
Total
funds
£|
|---|---|---|---|
||||261,529|
The notes form part of these financial statements
Page 9
## **FORCED ENTERTAINMENT LIMITED**
## **BALANCE SHEET 31 MARCH 2021**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
4,629
**CURRENT ASSETS**
Stocks
14
3,215
Debtors
15
24,614
Cash at bank and in hand
421,967
449,796
**CREDITORS**
Amounts falling due within one year
16
(94,796)
**NET CURRENT ASSETS**
355,000
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
359,629
**NET ASSETS**
359,629
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
145,669
145,669
-
145,669
145,669
145,669|31.3.21
Total
funds
£
4,629
3,215
24,614
567,636
595,465
(94,796)
500,669
505,298
505,298
359,629
145,669
505,298|31.3.20
Total
funds
£
6,172
3,215
49,176
327,149
379,540
(124,183)
255,357
261,529
261,529
261,529
-
261,529|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
1st October 2021
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
The notes form part of these financial statements
continued...
Page 10
## **FORCED ENTERTAINMENT LIMITED**
## **BALANCE SHEET - continued 31 MARCH 2021**
............................................. D J Chadbourn - Trustee
The notes form part of these financial statements
Page 11
## **FORCED ENTERTAINMENT LIMITED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|31.3.21
£
240,282
240,282
205
205
240,487
327,149
567,636|31.3.20
£
11,651|
|---|---|---|
|||11,651|
|||671|
|||671|
||||
|||12,322
314,827|
|||327,149|
The notes form part of these financial statements
Page 12
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the Statement**
**of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease in debtors
(Decrease)/increase in creditors
**Net cash provided by operations**|31.3.21
£
243,769
1,543
(205)
24,562
(29,387)
240,282|31.3.20
£
(68,766)
2,057
(671)
18,144
60,887
11,651|
|---|---|---|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.4.20|Cash flow|At 31.3.21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|327,149|240,487|567,636|
||327,149|240,487|567,636|
|**Total**|327,149|240,487|567,636|
The notes form part of these financial statements
Page 13
**FORCED ENTERTAINMENT LIMITED**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Trustees believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.
At the time of signing these accounts the Trustees are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Allocation and apportionment of costs**
Staff costs are allocated on the basis of time spent.
Direct costs are allocated to the activity to which they directly relate.
Support costs are allocated by direct apportionment where appropriate. Other support costs are allocated based on an estimate of a proportion of total time spent.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Motor vehicles - 25% on reducing balance
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 14
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. GRANTS AND AWARDS**
|Donations
Grants
Grants received, included in the above, are as follows:
Arts Council England Core Funding
British Council Funding
Paul Hamlyn Foundation
James Neill Trust
JG Graves Charitable Trust
Job Rentention Scheme
Sheffield City Council
D'Oyly Carte
Sheffield Town Trust
Church Burgesses
Art Breakers|31.3.21
£
9,282
534,460
543,742
31.3.21
£
254,091
7,200
77,005
-
-
171,164
10,000
3,000
7,000
3,000
2,000
534,460|31.3.20
£
-
256,750|
|---|---|---|
|||256,750|
|||31.3.20
£
249,500
3,750
-
1,500
2,000
-
-
-
-
-
-|
|||256,750|
continued...
Page 15
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
|**3.**
**OTHER TRADING ACTIVITIES**
Retail sales
Publication
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
UK fees etc
Touring and production income
O/S fees etc
Touring and production income
Co-production fees etc
Touring and production income
O/S travel
Touring and production income
Royalties
Royalties
Participation income
Participation income
Agency fees
Agency fees
**6.**
**RAISING FUNDS**
**Other trading activities**
Bad debts|31.3.21
£
1,463
10,000
11,463
31.3.21
£
205
31.3.21
£
-
474
121,938
-
-
2,000
3,185
127,597
31.3.21
£
117|31.3.20
£
3,621
-
3,621
31.3.20
£
671
31.3.20
£
32,502
165,137
17,845
41,543
2,057
18,755
281|
|---|---|---|
|||278,120|
|||31.3.20
£
-|
continued...
Page 16
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **7. CHARITABLE ACTIVITIES COSTS**
|Direct costs fees wages and expenses
Production costs
Premises overheads
Administration office costs
Building costs and insurance
Personnel
Touring costs
Retail costs
Marketing
Governance, legal and compliance
Forced Entertainment award
Publication
Organisational development
Fundraising fees
**8.**
**SUPPORT COSTS**
Management
£
Direct costs fees wages and expenses
113,197
Premises overheads
16,563
Administration office costs
5,829
Building costs and insurance
10,850
Personnel
1,708
Governance, legal and compliance
-
148,147
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|Support
Direct
costs (see
Costs
note 8)
£
£
210,675
113,197
25,130
-
-
16,563
182
6,380
-
10,850
-
1,708
3,756
-
353
-
19,789
-
-
6,070
5,000
-
15,572
-
1,603
-
750
-
282,810
154,768
Governance
Finance
costs
£
£
-
-
-
-
551
-
-
-
-
-
-
6,070
551
6,070
31.3.21
£
1,543|Totals
£
323,872
25,130
16,563
6,562
10,850
1,708
3,756
353
19,789
6,070
5,000
15,572
1,603
750|
|---|---|---|
|||437,578|
|||Totals
£
113,197
16,563
6,380
10,850
1,708
6,070|
|||154,768|
|||31.3.20
£
2,057|
Depreciation - owned assets
continued...
Page 17
**FORCED ENTERTAINMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Creative team
Management team|31.3.21
£
283,201
27,167
13,504
323,872
31.3.21
6
3
9|31.3.20
£
325,992
36,475
12,754|
|---|---|---|
|||375,221|
|||31.3.20
7
4
11|
No employees received emoluments in excess of £60,000.
## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Grants and awards
256,750
**Charitable activities**
Touring and production income
257,027
Royalties
2,057
Participation income
18,755
Agency fees
281
Other trading activities
3,621
Investment income
671
Other income
54,837
**Total**
593,999|Restricted
funds
£
-
-
-
-
-
-
-
-
-|Total
funds
£
256,750
257,027
2,057
18,755
281
3,621
671
54,837
593,999|
|---|---|---|
## **EXPENDITURE ON**
continued...
Page 18
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**Charitable activities**
Direct costs fees wages and expenses
375,221
-
Production costs
36,184
-
Premises overheads
17,525
-
Administration office costs
6,245
-
Building costs and insurance
11,049
-
Personnel
4,136
-
Touring costs
123,482
-
Retail costs
944
-
Marketing
22,775
-
Participation
27,794
-
Governance, legal and compliance
12,895
-
Forced Entertainment award
13,203
-
Publication
2,300
-
Organisational development
3,955
-
Fundraising fees
3,000
-
Other
2,057
-
**Total**
662,765
-
**NET INCOME/(EXPENDITURE)**
(68,766)
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
330,295
-
**TOTAL FUNDS CARRIED FORWARD**
261,529
-|Total
funds
£
375,221
36,184
17,525
6,245
11,049
4,136
123,482
944
22,775
27,794
12,895
13,203
2,300
3,955
3,000
2,057
662,765
(68,766)
330,295
261,529|
|---|---|
continued...
Page 19
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
|**13.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020 and 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**14.**
**STOCKS**
Stocks
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
VAT
Prepayments and accrued income|Fixtures
and
Motor
fittings
vehicles
Totals
£
£
£
8,103
19,505
27,608
8,103
13,333
21,436
-
1,543
1,543
8,103
14,876
22,979
-
4,629
4,629
-
6,172
6,172
31.3.21
31.3.20
£
£
3,215
3,215
31.3.21
31.3.20
£
£
1,974
31,812
16,997
791
2,185
2,607
3,458
13,966
24,614
49,176|Totals
£
27,608|
|---|---|---|
|||21,436
1,543|
|||22,979|
|||4,629|
|||6,172|
|||49,176|
continued...
Page 20
## **FORCED ENTERTAINMENT LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**17.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Designated fund (IBSEN)
**Restricted funds**
Agency projects
Participation projects
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
Designated fund (IBSEN)
**Restricted funds**
Agency projects
Participation projects
**TOTAL FUNDS**|At 1.4.20
£
175,953
85,576
261,529
-
-
-
261,529
Incoming
resources
£
522,347
10,001
532,348
58,654
92,005
150,659
683,007|31.3.21
31.3.20
£
£
2,535
5,101
10,448
8,365
2,852
7,473
78,961
103,244
94,796
124,183
Net
movement
At
in funds
31.3.21
£
£
111,024
286,977
(12,924)
72,652
98,100
359,629
53,664
53,664
92,005
92,005
145,669
145,669
243,769
505,298
Resources
Movement
expended
in funds
£
£
(411,323)
111,024
(22,925)
(12,924)
(434,248)
98,100
(4,990)
53,664
-
92,005
(4,990)
145,669
(439,238)
243,769|
|---|---|---|
continued...
Page 21
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
## **17. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At 1.4.19
£
**Unrestricted funds**
General fund
207,071
Designated fund (IBSEN)
121,788
Designated fund (Catalyst)
1,436
330,295
**TOTAL FUNDS**
330,295
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
593,999
Designated fund (IBSEN)
-
Designated fund (Catalyst)
-
593,999
**TOTAL FUNDS**
593,999|Net
movement
At
in funds
31.3.20
£
£
(31,054)
176,017
(36,212)
85,576
(1,500)
(64)
(68,766)
261,529
(68,766)
261,529
Resources
Movement
expended
in funds
£
£
(625,053)
(31,054)
(36,212)
(36,212)
(1,500)
(1,500)
(662,765)
(68,766)
(662,765)
(68,766)|
|---|---|
continued...
Page 22
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Designated fund (IBSEN)
Designated fund (Catalyst)
**Restricted funds**
Agency projects
Participation projects
**TOTAL FUNDS**|At 1.4.19
£
207,071
121,788
1,436
330,295
-
-
-
330,295|Net
movement
in funds
£
79,970
(49,136)
(1,500)
29,334
53,664
92,005
145,669
175,003|At
31.3.21
£
287,041
72,652
(64)
359,629
53,664
92,005
145,669
505,298|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,116,346|(1,036,376)|79,970|
|Designated fund (IBSEN)|10,001|(59,137)|(49,136)|
|Designated fund (Catalyst)|-|(1,500)|(1,500)|
||1,126,347|(1,097,013)|29,334|
|**Restricted funds**||||
|Agency projects|58,654|(4,990)|53,664|
|Participation projects|92,005|-|92,005|
||150,659|(4,990)|145,669|
|**TOTAL FUNDS**|1,277,006|(1,102,003)|175,003|
continued...
Page 23
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021**
## **FORCED ENTERTAINMENT LIMITED**
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
Page 24