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2024-03-31-accounts

Charity registration number 1049574

Company registration number 02170819 (England and Wales)

FORCED ENTERTAINMENT LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FORCED ENTERTAINMENT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees I Hirst
F H Babbage
D J Kok
R Kalsi
D C Micklem
T Norwood
Dr T S Payne
L N Whitter
Secretary E Evans - Secretary
Charity number 1049574
Company number 02170819
Registered office Unit 502 The Workstation
15 Paternoster Row
Sheffield
South Yorkshire
United Kingdom
S1 2BX
Independent examiner Sedulo London Limited
Office 605 Albert House
256 - 260 Old Street
London
United Kingdom
EC1V 9DD

(Appointed 5 June 2023) (Appointed 5 June 2023) (Appointed 9 October 2023) (Appointed 9 October 2023)

FORCED ENTERTAINMENT LIMITED

CONTENTS

Page
Chairman's statement 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11 - 21

FORCED ENTERTAINMENT LIMITED

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2024

I’m delighted to introduce the company Annual Report for the year ended 31[st] March 2024 – my first year as Chair of this longstanding theatre ensemble. 2024 marks the company’s 40[th] anniversary. Since 1984 six extraordinary theatre makers have been engaged in a creative collaboration that’s generated a huge repertoire of highly original performance pieces and participatory projects offering significant reach and depth, locally, nationally, internationally and online.

None of this would be possible without the on-going support of our principal funder – Arts Council England – with whom we continue to enjoy National Portfolio Organisation status. This commitment enables the company to unlock other resources including fundraised income and fees from stakeholders in the UK and internationally.

The year has been marked by an incredible run of new performance pieces - If All Else Fails, Complete Works Online version, and the expanded group piece Signal to Noise – as well as a participation programme that’s increasingly integrated in the core creative thinking and practice of the ensemble. Few performing arts companies can match the group’s commitment to change and artistic innovation, a resilience which sees them producing some of their most exciting work in their 40[th] birthday year.

The work is supported by a dedicated, hard-working, expert team comprising Eileen Evans and Deb Chadbourn (co-Executive Directors), Jim Harrison (Touring Producer and Production Manager), and Jessica Matthews (Participation Producer) with marketing and communications support from Caroline Griffin.

This year, we welcomed three new trustees to the board, bringing further diversity, fresh perspectives and complementary skills to our organisation. We also bid farewell to long-term board members Annie Lloyd and Adrian Friedli, whose support and commitment over the years made a significant contribution to the company’s ongoing success. Heartfelt thanks also to Deb Chadbourn for her exemplary six year tenure as Chair. Her wisdom and expertise have steered the company through two periods of ACE NPO funding, a global pandemic and an on-going cost-of-living crisis. Despite the ongoing challenging landscape, the company is in good health and well-prepared for the opportunities and challenges ahead.

.............................. D C Micklem Chairman

9th September 2024 Date: .........................

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 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 charity's governing document, 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)".

Objectives and activities

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.

Our vision is that our work creates a space which allows people of all backgrounds to rethink the world and their potential in it. Our mission is to explore the possibilities of playful, complex and provocative art, its power to ask questions and to connect people; our interactions with colleagues, partners, audiences and participants are guided by our values - generosity, rigour and a commitment to collaboration.

Public benefit

With reference to the duty in section 17(5) of the Charities Act 2011, the trustees confirm that they have referred to the Charity Commission's guidance on public benefit - including 'Public benefit: the public benefit requirement (PB1)' and 'Public benefit: running a charity (PB2)' - when reviewing the charity's aims and objectives and in planning its current and future activities. The achievements and activities outlined in this report demonstrate the public benefit arising from the charity's activities.

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Programme of activity

In 2023-24, considerable efforts by the Artistic Director, Tim Etchells and Executive Director, Eileen Evans secured record levels of co-production support for the new show, Signal to Noise, which marks Forced Entertainment’s 40[th] Anniversary. The distinguished list of international partners consists of: Athens Epidaurus Festival, GR; Centre Pompidou, Paris; Festival d’Automne à Paris; HAU Hebbel Am Ufer, Berlin; Holland Festival Amsterdam; Kunstler*innenhaus Mousonturm, Frankfurt; PACT Zollverein, Essen and Theatre Garonne, Toulouse.

The company’s evolving collaboration with Seke Chimutengwende including the two-hander If All Else Fails with Cathy Naden, and his involvement in the making and performance of Signal to Noise, as well as Tim Etchells’ work with Bertrand Lesca and Nasi Voutsas, demonstrated the importance and generosity of our collaboration with younger artists, and provided opportunities for Forced Entertainment to learn from these creative partnerships.

In his role as Associate Artist, Tyrone Huggins, contributed enormously to the making of Signal to Noise and meanwhile supported the company to approach Equity, Diversity and Inclusion in more creative ways, engaging artists from diverse backgrounds in a thoughtful exchange of views and ideas with the core Artistic Team.

The participation programme continued with three existing partners in our home base city of Sheffield, building on the findings of our Subject to Change project to engage marginalised young people in the arts, enabling them to develop their selfconfidence, a sense of belonging, and enhanced social and team-working skills.

Key achievements this year:

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Audience development

This year we delivered 27 performances in the UK and internationally, achieving a total of 3,660 audience members. As the company was immersed in making the new show, Signal to Noise, touring was limited. Average attendance per performance increased from 116 in 2022/23 to 136 in 2023/24.

The launch of Complete Works Online in February 2024 enabled the company to increase social media activity at the start of the anniversary year. Levels of engagement continued to be strong through the initiation of the FE Recall campaign, which invited members of the company and long-term collaborators and partners to share their memories of particular shows.

In February 2024 we undertook a further review of our digital activity and assets to provide the basis for an application to the Bloomberg Digital Accelerator Programme which would, if successful, enable us to build a new website and improve our digital infrastructure to build online engagement further.

Participation

The company’s work in Sheffield continued to be delivered with five regular partners; SAYiT (Emotional and Wellbeing Support for LGBTQ+ YP in Sheffield), Handsworth Grange a community college with particular strengths in its care of disadvantaged children, ACCT (Autism Children and Carers Together), youth-led charity Element Society, health and well-being organisation Shipshape and Buzz who work with vulnerable children, young people, adults and older people. Our two key freelance Participation Workers have taken on greater responsibility for running sessions using FE’s Five Principles Methodology, derived from the company’s well-established artistic practice.

In addition to workshops and post-show talks, members of the Artistic Team continued to support younger artists through mentoring.

Financial review

The statement of financial activities included in this report presents a turnover of £500,032 for 2023-24 (2022-23: £519,018) against expenditure of £581,753 (2022-23: £556,325). Income and expenditure for charitable activities generated a deficit of £81,721 (2022-23: £37,307).

The statement shows the consolidated position for all funds of £299,752 (2022-23: £381,743) including the Ibsen Award designated fund that was created in 2016-17 and restricted funds for Participation and Agency projects.

Reserves policy

At 31 March 2024, total reserves represented by unrestricted funds were £279,838 (2023: £360,820). Of these, designated funds were £17,276 (2023; £32,033) and general funds £262,562 (2023: £328,787). The designated funds represent funds earmarked for ongoing projects and are being spent down over a number of years. Restricted funds are £19,914 at 31 March 2024 (2023: £20,653)

The policy is to hold general funds equivalent to a minimum of three months' general fund expenditure and sufficient funds to cover the cost of redundancy payments in the event of winding up the company. The current cost of this at 31[st] March 2024 is £200,000 and can be supported with the unrestricted reserves funds. Furthermore, these reserves are needed to meet significant future uncertainty due to changes in the market for the company’s work, or changes in its funding relationship with Arts Council England.

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

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. This year the ratio was 50/50 ACE subsidy/earned income. 2023-24 was the first year of a new National Portfolio Organisation award, originally for three years, but extended to a four-year agreement in January 2024. The agreement will now run until March 31[st] 2027.

Achievable targets for earned income are set and approached with confidence through a well-established business model, and production income is raised through an established and evolving range of partnerships. 2023-24 saw successful efforts to raise £79,000 in co-production support for the making of the new 40[th] Anniversary show, Signal to Noise.

Income generation from Trusts and Foundations this year was successful with £7,884 raised from Sheffield Grammar School Trust, Sheffield Town Trust, Sheffield City Council Ward Pots and the Church Burgesses. Larger, multi-year applications to the Garfield Weston, John Ellerman and Paul Hamlyn Foundation were unsuccessful.

Structure, governance and management

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).

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A J Friedli (Resigned 5 June 2023)
I Hirst
A E Lloyd (Resigned 5 June 2023)
F H Babbage
D J Chadbourn (Resigned 5 June 2023)
D J Kok
R Kalsi (Appointed 5 June 2023)
D C Micklem (Appointed 5 June 2023)
T Norwood (Appointed 9 October 2023)
Dr T S Payne (Appointed 9 October 2023)
L N Whitter

Recruitment and appointment of 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.

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Organisational structure

The Board of Trustees, which currently has seven 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-devisers Robin Arthur, Claire Marshall, Cathy Naden and Terry O'Connor). The board and company appoint an Executive Director (Eileen Evans), Participation Producer (Imogen Ashby to September 2022), 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.

The Executive Director and Production Manager roles were reviewed during the year, with the outcome that the Executive Director’s role was divided into two parts, one to focus largely on touring and finance, the other on fundraising and reporting. Eileen Evans was joined by Deb Chadbourn from September 2023 in a job-share.

The Production Manager’s job description was updated to reflect the increased responsibility undertaken by Jim Harrison. The job title was changed to Touring Producer and Production Manager.

Induction and training of trustees

New trustees 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 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, a quarterly risk register 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.

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

.............................. E Evans - Secretary Trustee

9th September 2024 Date: .............................................

FORCED ENTERTAINMENT LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FORCED ENTERTAINMENT LIMITED

I report to the trustees on my examination of the financial statements of Forced Entertainment Limited (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (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 charity 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 charity’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.

Independent examiner's statement

Since the charity’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 the Association of Chartered Certified Accountants, 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:

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.

Emma Houghton FCCA

Sedulo London Limited

Office 605 Albert House 256 - 260 Old Street London EC1V 9DD United Kingdom

Dated: 24 October 2024

FORCED ENTERTAINMENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
2
259,281
481
Touring, production and
participation
3
228,762
-
Other trading activities
4
700
-
Investments
5
6,198
-
Other income
6
4,610
-
Total income
499,551
481
Expenditure on:
Touring, production and
partipation
7
580,533
1,220
Total expenditure
580,533
1,220
Net expenditure and movement
in funds
(80,982)
(739)
Reconciliation of funds:
Fund balances at 1 April 2023
360,820
20,653
Fund balances at 31 March 2024
279,838
19,914		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
259,762
273,037
2,643
228,762
237,523
-
700
2,949
-
6,198
1,366
-
4,610
1,500
-
500,032
516,375
2,643
581,753
512,355
43,970
581,753
512,355
43,970
(81,721)
4,020
(41,327)
381,473
356,800
61,980
299,752
360,820
20,653		 Total
2023
£
275,680
237,523
2,949
1,366
1,500
519,018
556,325
556,325
(37,307)
418,780
381,473

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FORCED ENTERTAINMENT LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 12 1,953 2,604
Current assets
Stocks 13 7,922 8,376
Debtors 14 96,647 115,893
Cash at bank and in hand 260,898 302,527
365,467 426,796
Creditors: amounts falling due within one year 15 (67,668) (47,927)
Net current assets 297,799 378,869
Total assets less current liabilities 299,752 381,473
Net assets excluding pension liability 299,752 381,473
The funds of the charity
Restricted income funds 16 19,914 20,653
Unrestricted funds 279,838 360,820
299,752 381,473

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 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the trustees on .........................9th September 2024

..............................

D C Micklem

Trustee

Company registration number 02170819 (England and Wales)

FORCED ENTERTAINMENT LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
20
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
6,198		 £
(47,827)
6,198
-
(41,629)
302,527
260,898		 2023
£
£
(140,027)
1,366
1,366
-
(138,661)
441,188
302,527

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Forced Entertainment Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 502 The Workstation, 15 Paternoster Row, Sheffield, South Yorkshire, S1 2BX, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. 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.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% on cost Motor vehicles 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity 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

Basic financial assets, which include debtors 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

Basic financial liabilities, including creditors and bank loans 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

2
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
190
-
Grants
259,091
481
259,281
481
Grants receivable for core activities
Arts Council England Core
Funding
254,091
-
British Council Funding
-
-
Sheffield Theatres Crucible
Trust
-
-
Sheffield Culture Collective
City Pledge
5,000
-
Sheffield City Council
-
481
259,091
481		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
190
346
-
259,572
272,691
2,643
259,762
273,037
2,643
254,091
254,091
-
-
18,600
-
-
-
2,643
5,000
-
-
481
-
-
259,572
272,691
2,643		 Total
2023
£
346
275,334
275,680
254,091
18,600
2,643
-
-
275,334

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Touring, production and participation
Participation 9,067 38,918
Royalties 6,413 2,662
Touring and co-production 172,133 138,351
Theatre tax relief 41,149 57,592
228,762 237,523

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Retail sales 700 2,949
5 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Deposit account interest 6,198 1,366
6 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 4,610 1,500

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Expenditure on charitable activities

Touring, Touring,
production production
and and
participation participation
2024 2023
£ £
Direct costs
Staff costs 357,404 332,084
Insurance 4,200 9,403
Advertising 19,591 13,060
Travel costs 35,296 64,558
General expenses 9,985 4,009
Production costs 94,539 85,396
521,015 508,510
Share of support and governance costs (see note 8)
Support 45,713 41,663
Governance 15,025 6,152
581,753 556,325
Analysis by fund
Unrestricted funds 580,533 512,355
Restricted funds 1,220 43,970
581,753 556,325
Support costs allocated to activities
2024 2023
£ £
Depreciation 651 868
Building costs and insurance 9,249 9,626
Premises overheads 26,150 20,846
Personnel 3,402 3,373
Administration office costs 6,261 6,950
Governance costs 15,025 6,152
60,738 47,815
Analysed between:
Touring, production and participation 60,738 47,815

8 Support costs allocated to activities

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8
Support costs allocated to activities
Governance costs comprise:
Administration office costs
Governance, legal and compliance
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 (Continued)
2024
2023
£
£
3,158
794
11,867
5,358
15,025
6,152
2024
2023
£
£
651
868		 (Continued)
2024
2023
£
£
3,158
794
11,867
5,358
15,025
6,152
2024
2023
£
£
651
868
6,152
2023
£
868

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, but 2 of them were reimbursed a total of £109 travelling expenses (2023 - £nil).

11 Employees

The average monthly number of employees during the year was:

Creative and management team
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
9
2024
£
314,311
29,206
13,887
357,404		 2023
Number
9
2023
£
295,516
23,227
13,341
332,084

There were no employees whose annual remuneration was more than £60,000.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

11 Employees

(Continued)

Remuneration of key management personnel

The Key Management Personnel in the year ended 31 March 2024 consisted of the Board of Trustees, the Executive Director, and the Artist Director. All trustees give their time freely and no trustee received remuneration in the year.

The total amount of employee benefits (including employer's national insurance contributions) received by Key Management Personnel was £85,786 (2023: £91,123).

12
Tangible fixed assets
Fixtures and
fittings
Motor vehicles
£
£
Cost
At 1 April 2023
8,103
19,505
At 31 March 2024
8,103
19,505
Depreciation and impairment
At 1 April 2023
8,103
16,901
Depreciation charged in the year
-
651
At 31 March 2024
8,103
17,552
Carrying amount
At 31 March 2024
-
1,953
At 31 March 2023
-
2,604
13
Stocks
2024
£
Stocks
7,922
14
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
41,866
Other debtors
3,984
Prepayments and accrued income
50,797
96,647		 Total
£
27,608
27,608
25,004
651
25,655
1,953
2,604
2023
£
8,376
2023
£
40,508
2,035
73,350
115,893

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2024
£
7,105
16,029
8,096
36,438
67,668		 2023
£
7,069
3,954
7,580
29,324
47,927

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
Agency projects 14,631 - (1,527) 13,104
Participation projects 6,022 481 307 6,810
20,653 481 (1,220) 19,914
Previous year: At 1 April 2022 Incoming Resources At 31 March
resources expended 2023
£ £ £ £
Agency projects 14,631 - - 14,631
Participation projects 47,349 2,643 (43,970) 6,022
61,980 2,643 (43,970) 20,653

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
General fund 328,787 499,551 (565,776) 262,562
Designated fund (IBSEN) 32,033 - (14,757) 17,276
360,820 499,551 (580,533) 279,838
Previous year: At 1 April 2022 Incoming Resources At 31 March
resources expended 2023
£ £ £ £
General fund 309,832 514,586 (495,631) 328,787
Designated fund (IBSEN) 46,968 1,789 (16,724) 32,033
356,800 516,375 (512,355) 360,820
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 1,953 - 1,953
Current assets/(liabilities) 277,885 19,914 297,799
279,838 19,914 299,752
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 2,604 - 2,604
Current assets/(liabilities) 358,216 20,653 378,869
360,820 20,653 381,473

18 Analysis of net assets between funds

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).
20
Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Cash absorbed by operations		 2024
2023
£
£
(81,721)
(37,307)
(6,198)
(1,366)
651
868
454
(5,161)
19,246
(77,368)
19,741
(19,693)
(47,827)
(140,027)