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← Forced Entertainment Limited

2025-03-31-accounts

Charity registration number 1049574 (England and Wales)

Company registration number 02170819

FORCED ENTERTAINMENT LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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

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 2025

I’m delighted to introduce the company Annual Report for the year ended 31[st] March 2025 - a year in which the company celebrated 40 years as one of the UK’s most exciting, experimental and enduring contemporary makers of theatre.

The company’s anniversary year culminated in the London premiere of Signal to Noise, an extraordinary new large-scale piece for six performers, at the Southbank Centre. It was presented as part of a season of work curated by Forced Entertainment across three venues including- If All Else Fails, L’Addition (with Associate Artists Bert and Nasi) and smaller pieces from Tim Etchells. Following a sell-out opening night, playing to over 900 people, the company threw a party to celebrate four decades of a collaborative practice that has influenced artists in the UK and on the international scene.

Signal to Noise is the work of a company at the very top of its game - continually innovating, addressing from unexpected angles the contemporary preoccupations and uncertainties of our modern world, playing with form and content in ways that constantly surprise and engage. There’s no resting on laurels here - no returning to tried and tested tropes or dusting off actions or approaches that might have worked before. This is a company mining a 40 year collaboration to create work that appears utterly fresh, completely contemporary.

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 support helps unlock a highly developed network of coproducers across the EU. Partners in Greece, France, Germany and Holland who invest in this work and maintain our ability to develop productions at scale that continue to engage and grow audiences.

But despite this - and first-class support from a small and brilliant team based in Sheffield, and a committed board of trustees - making and touring work is becoming increasingly difficult. Levels of funding from ACE have seen real-terms cuts, year-onyear, for over a decade. And these cuts have impacted UK theatres, whom we rely on for fees and co-producing support. Over the same period the costs of making and touring have skyrocketed. Other sources of funding are harder too to secure - trusts and foundations, local authorities, individual giving - as on-going austerity continues to bite. Artistically, this has been one of the richest years in the company’s 40-year history. And one of the most challenging as the economics of touring become harder to sustain.

The company continues to make some of its very best work. Long may it continue.

==> picture [74 x 48] intentionally omitted <==

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

24th July, 2025 Date: .........................

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

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.

Forced Entertainment’s 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.

Achievements and performance

Programme of activity

Forced Entertainment had a busy and productive 40[th] year.

With 5 collaborators, we presented 6 shows, performing 37 times in 8 countries to an audience of over 12,500. We presented 72 workshops and talks to over 850 participants.

Key achievements this year:

Signal to Noise

This new show to mark the company’s 40th anniversary was supported by seven international co-producers. The work of Executive Director, Eileen Evans and Artistic Director, Tim Etchells in raising these funds was comprehensive and tenacious with the result that their efforts achieved £82,000 in co-production funds, the highest level of support for six years.

Signal to Noise toured to the Netherlands, Greece, Italy, and Ireland before its UK premiere at London’s South Bank Centre in October as part of a 4-week London season that celebrated the company’s 40[th] birthday. Repertoire in the season also included, If All Else Fails (FE), L’Addition (Bert&Nasi), Shown & Told (Etchells & Stuart), and Go On Like This (Etchells & Buck).

The show then toured to Lancaster, Brighton, Cambridge as well as Belgium, France in autumn 2024. Feedback was very positive and has been captured in audience surveys, reported to the board and ACE in February 2025.

‘Experiencing a seminal work by probably the most significant theatre artists of a generation, certainly who have changed my life, on the day Trump was re-elected, it all felt so resonant, so sad, weirdly hilarious, deeply consoling.’

FORCED ENTERTAINMENT LIMITED

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

FOR THE YEAR ENDED 31 MARCH 2025

There were 36 performances of Signal to Noise in 2024-25 (3 in 2023-24).

Other Shows

Other shows that toured outside of the London birthday season were:

Other Productions

As well as producing the English version of L’Addition by Bert&Nasi, directed by Tim Etchells, which did two sold out weeks in both Edinburgh and London, Forced Entertainment supported a Turkish language version of Tomorrow’s Parties in a collaboration with Beykoz Kundura in Istanbul with members of the artistic and management teams supporting the production.

Feedback from our partner in Turkey was very positive;

‘Our free public performances at Beykoz Kundura, in particular, created a wonderful atmosphere—bringing together diverse audience profiles, sparking new conversations, and inspiring us with the lively exchanges in our post-show Q&A sessions. It’s been an incredible experience to see the audience in Turkey engage with this work in such a meaningful way.’

Participation Programme

Fundraising from national trusts has proved challenging, despite the ongoing efforts of Jessica Matthews, our Participation Producer. We achieved a success rate of 25%, being awarded 4 grants out of 16 applications, raising £11,000 for the participation programme, mainly from local trusts and foundations.

A programme of workshops in term time and during the school holidays saw FE extend the range of young people it supports across Sheffield. Our dedicated freelance participation workers Ethel Maqeda and Ali Pidsley, led by Terry O’Connor from the Artistic Team delivered taster workshops for schools and youth groups alongside regular workshops with three long term partners whose mission is to support disadvantaged young people.

Our Days Out programme, which introduces young people from diverse backgrounds to theatre performances in Sheffield, providing food and post-show talks with visiting artists, has continued to be popular. We took groups to see 4 performances. Post-show talks accompanied performances in most venues throughout the year, supporting young people to engage with the productions’ artistic teams in more depth. Feedback has been informative as well as positive, with one reflecting that;

"I think [the Q&A] was good because you get an insight into the play that you wouldn’t normally get from watching it.

Mentoring by members of the Artistic Team and Management Team has been consistent throughout the year, supporting younger artists to develop their artistic and business practice and established companies to enhance their environmental responsibility through practical, scalable advice from Jim Harrison, our Touring Producer and Production Manager.

Our participation team reflected on their work with young people regularly, learning from every encounter and from each other in reflexive sessions and creative exchange days.

Digital Work

As part of the 40[th] birthday celebrations, we invited a wide range of collaborators, colleagues and friends to recall one of their favourite Forced Entertainment memories for the Error in formula ->#FERECALL<- project; 26 images and recollections were posted across Forced Entertainment’s social media channels to widespread sharing and liking reaching over 13,000 engagements. These personal insights spanned 40 years of the company’s work and remain accessible on Forced Entertainment’s website.

FORCED ENTERTAINMENT LIMITED

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

FOR THE YEAR ENDED 31 MARCH 2025

Short, creative digital films featuring performers from Signal to Noise were released direct to social media channels in autumn 2024, helping engage online audiences and draw new audiences to the show on tour. These proved extremely effective and sparked an idea for a creative project that was submitted to The Space commissioning fund in May 2025 and will also feed into other online creative projects.

A short film about collaboration, a central tenet of Forced Entertainment’s practice and a key value, was made by one of our longest-standing collaborators, filmmaker and photographer, Hugo Glendinning. The film has been viewed 1,000 times. The trailer for Signal to Noise has been viewed 5,700 on YouTube.

Also on our website is the full collection of Complete Works: Table Top Shakespeare recordings that was launched as part of the 40th Birthday celebrations in January 2024. In 2024-25 the plays achieved a total of 3,800 views (861 unique views) and 1,037 viewing hours, with Hamlet as the most viewed play.

Access

All the online video work now has captions thanks to the sustained efforts of Jim Harrison. Advice was sought about how to make FE’s live work more accessible in response to feedback in Birmingham from a deaf audience member. Surtitles for Signal to Noise and other works are routinely provided.

Financial review

The statement of financial activities included in this report presents a turnover of £724,213 for 2024-25 (2023-24: £500,032) against expenditure of £707,563 (2023-24: £581,753). Income and expenditure for charitable activities generated a surplus of £16,650 (2023-24: deficit of £81,721).

The statement shows the consolidated position for all funds of £316,402 (2023-24: £299,752), 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 2025, total reserves represented by unrestricted funds were £301,915 (2024: £279,838). Of these, designated funds were £Nil (2024; £17,276) and general funds £301,915 (2024: £262,562). Restricted funds are £14,487 at 31 March 2025 (2024: £19,914).

The policy is to hold general funds equivalent to a minimum of three months' general expenditure, sufficient funds to cover the cost of redundancy payments in the event of winding up the company, and 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. The current cost of this at 31 March 2025 is £211,250. The charity is holding the equivalent of 4.5 months reserves at the year end.

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. 2024-25 was year two of our current (2023-26) NPO agreement with Arts Council England, which is likely to be extended to 31 March 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.

In addition to funding bids submitted to support the Participation Programme, we also submitted unsuccessful applications to Bloomberg Digital Arts Project, to support digital infrastructure development, and to Cultural Bridge for a project to develop our socially engaged skills and practice with our partners in Essen.

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).

FORCED ENTERTAINMENT LIMITED

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

FOR THE YEAR ENDED 31 MARCH 2025

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:

I Hirst F H Babbage D J Kok R Kalsi D C Micklem T Norwood Dr T S Payne 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.

Organisational structure

The Board of Trustees, which currently has eight members, administers the charity. The Board meets quarterly and 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 Co-Executive Directors (Eileen Evans and Deb Chadbourn), Participation Producer (Jessica Matthews), and Touring Producer and Production Manager (James Harrison), to manage the day-to-day operations of the charity. To facilitate effective operations, the Co-Executive Directors have delegated authority, within terms and conditions approved by the trustees, for operational matters including finance and employment. The Marketing and PR functions are undertaken by an experienced freelance contractor, Caroline Griffin.

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. They are given a Trustee Handbook as a guide to their role. During the induction training they meet key employees and the Chair of the Board. 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 Artistic 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 annual organisational plans, a health and safety policy, a staff handbook, a 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.

FORCED ENTERTAINMENT LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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

.............................. E Evans - Secretary Trustee 24th July, 2025 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 2025.

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.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 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

30 October 2025 Dated: .........................

FORCED ENTERTAINMENT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income and endowments from:
Donations and legacies
2
278,810
25,902
Charitable activities
3
377,095
32,035
Other trading activities
4
1,214
-
Investments
5
4,547
-
Other income
6
4,610
-
Total income
666,276
57,937
Expenditure on:
Charitable activities
7
644,199
63,364
Total expenditure
644,199
63,364
Net income/(expenditure) and
movement in funds
22,077
(5,427)
Reconciliation of funds:
Fund balances at 1 April 2024
279,838
19,914
Fund balances at 31 March 2025
301,915
14,487		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
304,712
259,281
481
409,130
228,762
-
1,214
700
-
4,547
6,198
-
4,610
4,610
-
724,213
499,551
481
707,563
580,533
1,220
707,563
580,533
1,220
16,650
(80,982)
(739)
299,752
360,820
20,653
316,402
279,838
19,914		 Total
2024
£
259,762
228,762
700
6,198
4,610
500,032
581,753
581,753
(81,721)
381,473
299,752

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 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Stocks
13
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one year
15
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
16
Unrestricted funds
17		 2025
£
272
108,448
229,757
338,477
(23,540)		 £
1,465
314,937
316,402
14,487
301,915
316,402		 2024
£
7,922
96,647
260,898
365,467
(67,668)		 £
1,953
297,799
299,752
19,914
279,838
299,752

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 2025.

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 ......................... 24th July 2025

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

D C Micklem Trustee

Company registration number 02170819 (England and Wales)

FORCED ENTERTAINMENT LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
20
Investing activities
Investment income received
Net cash generated from investing activities
Net cash generated from 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		 2025
£
4,547		 £
(35,688)
4,547
-
(31,141)
260,898
229,757		 2024
£
6,198		 £
(47,827)
6,198
-
(41,629)
302,527
260,898

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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" 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)". 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.

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.

Income from charitable activities is recognised when the production has taken place. Any income received in advance of a production performance, is deferred until such date.

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.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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.

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.

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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.

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
969
-
Grants
259,091
25,902
Donated goods and services
18,750
-
278,810
25,902		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
969
190
-
284,993
259,091
481
18,750
-
-
304,712
259,281
481		 Total
2024
£
190
259,572
-
259,762

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

2
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Grants receivable for core activities
Arts Council England Core
Funding
254,091
-
Sheffield Culture Collective
City Pledge
5,000
-
D'Oyly Carte Charitable
Trust
-
3,000
JG Graves Trust
-
3,000
Freshgate Trust
-
2,000
Fabric CIO
-
17,902
259,091
25,902
3
Income from charitable activities
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Touring, production and participation
Participation
12,600
-
Royalties
9,115
-
Touring and co-production
290,868
32,035
Theatre tax relief
64,512
-
377,095
32,035		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
254,091
254,091
-
254,091
5,000
-
-
-
3,000
-
-
-
3,000
5,000
-
5,000
2,000
-
481
481
17,902
-
-
-
284,993
259,091
481
259,572
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
12,600
9,067
-
9,067
9,115
6,413
-
6,413
322,903
172,133
-
172,133
64,512
41,149
-
41,149
409,130
228,762
-
228,762		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
254,091
254,091
-
254,091
5,000
-
-
-
3,000
-
-
-
3,000
5,000
-
5,000
2,000
-
481
481
17,902
-
-
-
284,993
259,091
481
259,572
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
12,600
9,067
-
9,067
9,115
6,413
-
6,413
322,903
172,133
-
172,133
64,512
41,149
-
41,149
409,130
228,762
-
228,762
259,572
Total
2024
£
9,067
6,413
172,133
41,149
228,762

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Retail sales 1,214 700

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Deposit account interest 4,547 6,198
6 Other income
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Other income 4,610 4,610

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities

Touring, Touring,
production production
and and
participation participation
2025 2024
£ £
Direct costs
Staff costs 371,154 357,404
Insurance 3,789 4,200
Advertising 31,824 19,591
Travel costs 111,684 35,296
General expenses 6,256 9,985
Production costs 121,508 94,539
646,215 521,015
Share of support and governance costs (see note 8)
Support 45,497 45,713
Governance 15,851 15,025
707,563 581,753
Analysis by fund
Unrestricted funds 644,199 580,533
Restricted funds 63,364 1,220
707,563 581,753
Support costs allocated to activities
2025 2024
£ £
Depreciation 488 651
Building costs and insurance 9,928 9,249
Premises overheads 26,013 26,150
Personnel 788 3,402
Administration office costs 7,317 6,261
Bad debt 964 -
Governance costs 15,850 15,025
61,348 60,738
Analysed between:
Touring, production and participation 61,348 60,738

8 Support costs allocated to activities

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets		 (Continued)
2025
2024
£
£
5,789
3,158
10,061
11,867
15,850
15,025
2025
2024
£
£
-
-
488
651		 (Continued)
2025
2024
£
£
5,789
3,158
10,061
11,867
15,850
15,025
2025
2024
£
£
-
-
488
651
15,025
2024
£
-
651

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 £336 travelling expenses (2024 - £109).

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		 2025
Number
10
2025
£
324,744
31,839
14,571
371,154		 2024
Number
9
2024
£
314,311
29,206
13,887
357,404

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 2025

11 Employees

(Continued)

Remuneration of key management personnel

The Key Management Personnel in the year ended 31 March 2025 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 £77,689 (2024: £85,786).

12 Tangible fixed assets

Fixtures and
fittings
Motor vehicles
£
£
Cost
At 1 April 2024
8,103
19,505
At 31 March 2025
8,103
19,505
Depreciation and impairment
At 1 April 2024
8,103
17,552
Depreciation charged in the year
-
488
At 31 March 2025
8,103
18,040
Carrying amount
At 31 March 2025
-
1,465
At 31 March 2024
-
1,953
13
Stocks
2025
£
Stocks
272
14
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
32,899
Other debtors
2,438
Prepayments and accrued income
73,111
108,448		 Total
£
27,608
27,608
25,655
488
26,143
1,465
1,953
2024
£
7,922
2024
£
41,866
3,984
50,797
96,647

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

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		 2025
£
5,187
7,687
3,927
6,739
23,540		 2024
£
7,105
16,029
8,096
36,438
67,668

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 2024 Incoming Resources At 31 March
resources expended 2025
£ £ £ £
Agency projects 13,104 49,937 (50,854) 12,187
Participation projects 6,810 8,000 (12,510) 2,300
19,914 57,937 (63,364) 14,487
Previous year: 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

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 2024 Incoming Resources Transfers At 31 March
resources expended 2025
£ £ £ £ £
General fund 262,562 666,276 (629,253) 2,330 301,915
Designated fund (IBSEN) 17,276 - (14,946) (2,330) -
279,838 666,276 (644,199) - 301,915
Previous year: At 1 April 2023 Incoming Resources Transfers 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

During the year, a transfer of remaining designated funds were transferred into general reserves as this designated fund is no longer needed due to the project coming to an end.

18 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
1,465
-
Current assets/(liabilities)
300,450
14,487
301,915
14,487		 Total
2025
£
1,465
314,937
316,402

FORCED ENTERTAINMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

18 Analysis of net assets between funds (Continued)
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

19 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

20
Cash absorbed by operations
Surplus/(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 in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Cash absorbed by operations		 2025
£
16,650
(4,547)
488
7,650
(11,801)
(44,128)
(35,688)		 2024
£
(81,721)
(6,198)
651
454
19,246
19,741
(47,827)