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2022-03-31-accounts

DocuSign Envelope ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5

SHAKESPEARE NORTH TRUST

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE 18-MONTH PERIOD ENDED

31 MARCH 2022

REGISTERED CHARITY No. 1120641

REGISTERED COMPANY No. 05923469 (England and Wales)

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SHAKESPEARE NORTH TRUST

CONTENTS

Page
1. Legal and administrative information 2
2. Trustees’ report 4
3. Independent examiner’s report 11
4. Statement of financial activities (including the income and expenditure) 12
5. Balance sheet 13
6. Notes to the financial statements 14

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LEGAL AND ADMINISTRATIVE INFORMATION

Directors/Trustees Ian McCarthy
Susan Platt
Christopher Brown
Michael Harden
Leann Hearne
Mark Bolland Resigned 28 May 2021
Kathleen Dacre Resigned 28 May 2021
Elspeth Graham Resigned 28 May 2021
Andrew Rowlands Resigned 28 May 2021
Richard Wilson Resigned 28 May 2021
Coral Cameron Appointed 28 May 2021
Julie Sanders Appointed 28 May 2021
Nicola Winn Appointed 28 May 2021
Jon Corner Appointed 1 April 2022
Faye Dyer Appointed 1 April 2022
Alastair Machray Appointed 1 April 2022
Peter Mearns Appointed 1 April 2022
Chair of Trustees Max Steinberg
Company Secretary Peter Scott Resigned 1 September 2022
Honorary Treasurer Roger Hughes Resigned 1 September 2022
President Edward Stanley, 19thEarl of Derby
Honorary Patron Dame Judi Dench
Chief Executive Officer Melanie Lewis Appointed 1 September 2021

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LEGAL AND ADMINISTRATIVE INFORMATION (CONTINUED)

Charity number 1120641 Company number 05923469 (England and Wales) Registered office Shakespeare North Playhouse Prospero Place Prescot Merseyside L34 3AB Independent examiner Butterworth Barlow Chartered Accountants 10 Derby Street Prescot Merseyside L34 3LG

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022

The Directors (who are also the Trustees of the charity, for the purpose of charity law) present their report and financial statements for the 18-month period ended 31 March 2022. The company is a registered charity, (registered number 1120641) and company limited by guarantee (registered number 05923469). The company is incorporated under the Companies Act 2006 and is governed by its Articles and Memorandum of Association dated 14 August 2007. In the reporting period the Charitable Company changed its accounting reference date from 30 September to 31 March. The prior year comparatives represent 12-months to 30 September 2020 whereas the current period represents 18-months to 31 March 2022 accordingly.

These financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) and provisions applicable to charitable companies subject to the small companies’ regime. The Board of Trustees have taken advantage of the small companies' exemption from preparing a strategic report.

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED)

On 1 April 2022 Shakespeare North Trust entered into an agreement to become the operator of Shakespeare North Playhouse. From this date Shakespeare North Trust operates under the trading name of Shakespeare North Playhouse.

OUR VISION

Inspired by Shakespeare. Bringing Joy: Together, we tell stories that feel like our own, that change the way we see the world - opening doors, inviting debate, inspiring a love of learning, and bringing joy to this place; Our Shakespeare North Playhouse.

OUR MISSION

We share world-class theatre, activities and conversations inspired by Shakespeare and relevant to all of us.

OUR OBJECTS AND ACTIVITIES

As set out in the charity's governing document the charity's objectives are:

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED) OUR ORGANISATIONAL AIMS

Shakespeare North Trust has four key aims for Shakespeare North Playhouse:

1. EDUCATION, ENGAGEMENT, LEARNING

Ensuring people of all ages and backgrounds participate in activities at Shakespeare North Playhouse that are relevant, vibrant, and inclusive.

2. CREATE AN INCLUSIVE AND EMPOWERING PLACE FOR ARTISTS AND MAKERS

3. REGENERATION OF OUR PLACE

Prescot has a fascinating history and heritage that resonates at a local, national, and international level. There is substantial potential to promote an iconic new venue in a town that is being positively transformed.

4. BUILD A RESILIENT AND SUSTAINABLE ORGANISATION

Shakespeare North Playhouse will be a place where people want to work, build a career, volunteer, socialise, and create together. This is connected strongly to ensuring the commercial elements of Shakespeare North Playhouse are successful in supporting the wider cultural offer and sustainability helping put Prescot on the map locally, nationally, and internationally. Sustainability is a key thread throughout the business, this encompasses the climate emergency, working practices and ethical policies, and business efficiencies.

Shakespeare North Playhouse has already captured the hearts of local communities and the engagement work to date has revealed a huge appetite for this place-making and place-shaping project. Importantly this work is embedded in the community and brings people from diverse backgrounds together in a positive way.

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED)

OUR SOCIAL AIMS

To establish Shakespeare North Playhouse as a place for all, committed to supporting the local economy and providing opportunities within our communities through delivering quality, ambitious and inspirational arts and cultural experiences.

OUR SOCIAL OBJECTIVES

STRUCTURE, GOVERNANCE, AND MANAGEMENT

The company was incorporated on 4 September 2006 and is limited by guarantee (registration no. 05923469). The company is also a registered charity (registration no. 1120641). The Directors, who are the Trustees of the charity for the purposes of Charity Law, are listed on page 2. Melanie Lewis is the Chief Executive Officer of the company and of the charity and has responsibility for the day-to-day management. The Board of Trustees who are listed above meet at least four times a year to review developments, activities, and achievements.

The appointment of new Trustees falls within the responsibilities of the existing Trustees. Any training needs will be identified during the appointment process and appropriate courses will be arranged where necessary. Since the beginning of the reporting period five Trustees resigned and seven new Trustees appointed.

Shakespeare North Trust appointed its first Chief Executive Officer on 1 September 2021. During the reporting period the Trust has further extended its senior leadership team with the appointments of:

Creative Director & Programmer Laura Collier Director of Finance Kerry Bibby Director of Marketing & Commercial Claire Will

The governance of the charitable company is the responsibility of the Trustees. Day-to-day management is by the Chief Executive Officer, supported by the senior leadership team and draws from the expertise of the Board of Trustees.

The company holds, in addition to its regular Board of Trustee meetings, four individual sub committees. Membership of the committees comprises of Trustees, Advisers, and Officers of the Charity. The Chair of each committee updates at each Board of Trustee meeting on actions and strategy. The committees are:

Development and Fundraising Finance, Risk and Governance Learning and Engagement Remuneration and Appraisals

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED) RELATED PARTY RELATIONSHIPS

The charity has considered the disclosure requirements of the SORP for related party relationships and believes there are no related party relationships other than the Trustees and their close connections. There were no reportable transactions with related parties in the 18-month period ended 31 March 2022.

RISK MANAGEMENT

The Trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so the necessary steps can be taken to mitigate these risks.

PUBLIC BENEFIT

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. The trustees consider that they have acted in the public benefit.

RESERVES POLICY

The Board of Trustees has considered the level of financial reserves required to enable the organisation to meet its obligations on an on-going basis. The Trustees consider that they should aim to hold, as unrestricted funds, a level of reserves equivalent to at least two months' outgoing resources increasing to six months' outgoing resources held in reserve over the longer term. In the coming years it is the intention of the Trustees to implement a reserves policy and commit to a level of reserves which will enable the charitable company to continue to be able to operate as envisaged.

The budgeted expenditure for the year ending 31 March 2023 is £3,304,000 and therefore the targeted level of reserves is in the region of £550,000. The strategy is to build sufficient reserves through operating surpluses and fundraising. The Trustees and senior leadership team are aware of the urgency to react of any shortfall in income. Unrestricted general reserves on 31 March 2022 totalled £33,071 (2020: £5,660). Excluding fixed assets, the unrestricted free reserves on 31 March 2022 were £2,932 (2020: no free reserves).

GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in note 1.

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED) REVIEW OF ACTIVITIES, MAJOR DEVELOPMENTS AND ACHIEVEMENTS

On 1 September 2021 the Trust was delighted to appoint Melanie Lewis as Chief Executive Officer. Melanie brings a wealth of strategic and executive experience and expertise within arts and culture.

Throughout her career she has worked in iconic venues and on a wide array of projects and initiatives. Her passion lies with shaping and enriching the whole visitor experience and bringing lifelong learning to the people we serve, be that in our local community, our city, from across the UK and around the world.

On 1 April 2022 Shakespeare North Trust entered into a management agreement with Knowsley Metropolitan Borough Council to become the operator of the newly built Shakespeare North Playhouse. The agreement coincides with a 25year peppercorn lease.

Shakespeare North Trust took control of the building following practical completion and fit out. Shakespeare North Trust was able to occupy the building on 30 May 2022 with the venue open to the public on 15 July 2022. Since 1 April 2022 Shakespeare North Trust has operated under the trading name Shakespeare North Playhouse.

Shakespeare North Playhouse is a newly built cultural and educational venue. The ground-breaking cultural attraction is home to the only 17[th] -century style, timber built “Cockpit” theatre outside London.

Housed inside this modern, energy-efficient building, the venue is also home to a fully accessible outdoor performance garden funded by the Sir Ken Dodd Charitable Foundation, exhibition gallery, 60-seater studio theatre, learning centre, events spaces, and a café and bar with outdoor piazza. Built entirely during the pandemic thanks to public funds and donations, it will attract over 140,000 visitors a year to the region.

Shakespeare North Playhouse is inspired by Prescot’s historic connections to William Shakespeare and a love of storytelling. In the 1590s, a remarkable theatre stood in the town and hosted performances made possible by the Earl of Derby, resident at Knowsley Hall. It is thought that it was the only purpose-built indoor playhouse outside of London, and players brought with them new shows from a certain popular playwright of the day... William Shakespeare.

The building opened its doors to the public with a joyful weekend of free festivities in July 2022 (15-17), forming a key part of Knowsley’s Borough of Culture celebrations. Over 7,500 people attended the opening weekend alone, 40% of which were Knowsley residents. Over 30,000 tickets to shows have been sold as at 30 November 2022.

In addition to plays on the stages, Shakespeare North Playhouse will host a programme of regular family and community activities and events including storytelling, spoken word, craft, heritage, art and writing workshops for families, local school children and adults.

In support of the organisation’s commitment to the local community and access to the arts, a proportion of tickets are available on a ‘Pay What You Decide’ basis, with 50% of these reserved for Knowsley residents.

Shakespeare North Playhouse team work with the local community to develop partnerships, to co-create and to raise aspirations. The business model works on a premise of good, ethical trading and partnership with the right companies, suppliers, charities, and communities to ensure a safe, inclusive, progressive organisation for 2022 and many more generations to come. The venue is designed to be successful and vibrant not only because of the cultural programmes but also by attracting patrons to the Playhouse as a financially sustainable visitor attraction and community meeting place.

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TRUSTEES’ REPORT FOR THE 18-MONTH PERIOD ENDED 31 MARCH 2022 (CONTINUED) REVIEW OF ACTIVITIES, MAJOR DEVELOPMENTS AND ACHIEVEMENTS (CONTINUED)

FUNDRAISING

On behalf of the Board of Trustees, the Development and Fundraising Committee will have delegated responsibility to support the senior leadership team in achieving a robust fundraising and development strategy that will support the financial sustainability of the charitable organisation and its core objectives.

The Board of Trustees would like to say a special thank you to all grantors and donors during the reporting period.

Liverpool City Region Combined Authority Arts Council England The Granada Foundation The Duchy of Lancaster Roger Hughes The Millichope Foundation

On 4 November 2022 Arts Council England announced Shakespeare North Playhouse will become a National Portfolio Organisation from April 2023 - the first organisation in Knowsley to be awarded this prestigious status. As part of the 2023-2026 investment programme, Shakespeare North Playhouse will receive a total of £1.2m in financial support. The funding will support the organisation to achieve its aims and objectives.

FUTURE DEVELOPMENTS

The main aim is to execute the Business Plan as defined and continue to be agile in adapting to new opportunities as they arise. This will be achieved whilst continuing to build upon the external relationships with stakeholders, potential collaborators, and funders.

However, to achieve this, the focus for the next 12-months is to embed processes and systems of working so that the organisation can succeed in an effective and efficient way. It is critical that the Charity transitions from one driven by theory and vision, to one which is focused on delivery. The organisation needs to build a rhythm of working that supports the team to flourish and achieve, and by extension enables the achievement of objectives.

The organisation has been working to create a robust toolkit and cohesive masterplan (for internal and external use) and whilst excellent progress has been made already, greater clarity is now required. Over the coming year this structure will enable the opportunities of the Charity to be fully realised.

AMBITIONS

By 2026 Shakespeare North Playhouse will be…

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SHAKESPEARE NORTH TRUST

INDEPENDENT EXAMINERS REPORT

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SHAKESPEARE NORTH TRUST (‘THE COMPANY’)

I report to the Charity Trustees on my examination of the accounts of the Company for the period ended 31 March 2022.

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

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.

Gavin Butterworth, FCA Butterworth Barlow Chartered Accountants Prescot Merseyside L34 3LG

24 December 2022

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STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

18-Months ended 31 March 2022

Notes
Incoming from:
Donations and legacies
2
Investment income
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
5,6
Total expenditure
Net income/(expenditure)
Transfers between funds
12,13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
12-14
Total funds carried forward		 Unrestricted
funds
£
11,660
10,500
22,160
4,319
26,022
30,341
(8,181)
35,592
27,411
5,660
33,071		 Restricted
funds
£
346,036
Nil
346,036
9,372
222,198
231,570
114,466
(35,592)
78,874
Nil
78,874		 For the 18-month
period ended
31 March
2022
Total
funds
£
357,696
10,500
368,196
13,691
248,220
261,911
106,285
Nil
106,285
5,660
111,945		 For the 12-month
period ended
30 September
2020
Total
funds
£
5,450
3,527
8,977
Nil
4,649
4,649
4,328
Nil
4,328
1,332
5,660

The Statement of Financial Activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.

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STATEMENT OF FINANCIAL POSITION

18-Months ended 31 March 2022

ESPEARE NORTH TRUST
EMENT OF FINANCIAL POSITION
nths ended 31 March 2022
ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5
Notes
Fixed assets:
Intangible assets
9
Current assets:
Debtors
10
Cash at bank and in hand
Total current assets
Total assets
Liabilities:
Creditors: amounts falling due within one year
11
Net current assets
Creditors: amounts falling due after more than one year
Total net assets
The funds of the charity
Restricted income funds
12-14
Unrestricted funds
12-14
Total charity funds		 As at
31 March
2022
£
30,139
159,903
12,749
172,652		 As at
30 September
2020
£
Nil
Nil
7,419
7,419
202,791
(90,846)
111,945
Nil
111,945
78,874
33,071
111,945
7,419
(1,759)
5,660
Nil
5,660
Nil
5,660
5,660

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the 18-month period ended 31 March 2022. Registered company number05923469 (England and Wales).

The members have not required the company to obtain an audit of its financial statements for the 18-month period ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for;

These financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) and provisions applicable to charitable companies subject to the small companies’ regime.

22-Dec-22

The financial statements were approved by the Board of Trustees on ______.

……………………………………….. Max Steinberg Chair of Trustees

……………………………………….. Faye Dyer

Chair of Finance, Risk and Governance Committee

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NOTES TO THE FINANCIAL STATEMENTS

18-months ended 31 March 2022

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 are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

Under the small entity provisions within Section1a of FRS 102, the charitable company has taken exemption from preparing a cash flow statement.

There are no significant areas of judgements or key sources of estimation uncertainty.

GOING CONCERN

The Trustees have adopted a detailed sustainable business plan and reviewed budgets and cash flow forecasts for the period to 31 March 2024, alongside appropriate sensitivity analysis. The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Trustees are confident that the charitable company, with the support of grant funding and the Theatre’s stakeholders, including the local community at large, can continue in operational existence for the foreseeable future and therefore consider that it is appropriate to continue to adopt the going concern basis in preparing the annual financial statements.

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.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Income received in advance of a theatrical performance or provision of other specified service it is deferred until the criteria for income recognition are met. During the period there was no advanced income relating to theatrical performances.

Donations from individuals and other bodies (not being the nature of a grant) are recognised when receivable.

Short term investment income is received as rental income during the period. Income is recognised once the charitable company has entitlement, it is probable and the income will be received, and the amount can be measured reliably.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

EXPENDITURE

Expenditure is recognised on an accruals basis as a liability is incurred. Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charitable company and include audit fees and costs linked to the strategic management of the charitable company.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity comprise both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

TANGIBLE AND INTANGIBLE FIXED ASSETS

Tangible and intangible fixed assets are stated at cost less depreciation/amortisation.

Depreciation is provided on a straight-line basis using rates calculated to write down the cost of each asset to its estimated residual value over its anticipated useful life as follows:

Fixtures and equipment 7 years
Theatre and production equipment 7 years
Computer and other equipment 3 years
Leasehold improvements 5 to 10 years
Intangible assets 3 to 5 years

The charitable company capitalises fixed assets over a value of £1,000

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.

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

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.

DEBTORS

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

FINANCIAL INSTRUMENTS

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. The charitable organisation 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.

2. DONATIONS AND LEGACIES

ONATIONS AND LEGACIES
Unrestricted
Funds
Restricted
Funds
Total Funds
For the 18-
month period
ended
31 March
2022
£
£
£
Donations and gifts
11,660
5,000
16,660
Grants
Nil
341,036
341,036
11,660
346,036
357,696
onth period ended 30 September 2020 there was no restricted income.
VESTMENT INCOME
Unrestricted
Funds
Restricted
Funds
Total Funds
For the 18-
month period
ended
31 March
2022
£
£
£
Rental income
10,500
Nil
10,500		 Total Funds
For the 12-
month period
ended
30 September
2020
£
5,450
Nil
5,450
Total Funds
For the 12-
month period
ended
30 September
2020
£
3,527

In the 12-month period ended 30 September 2020 there was no restricted income.

3. INVESTMENT INCOME

In the 12-month period ended 30 September 2020 there was no restricted income.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

4. RAISING FUNDS

ISING FUNDS
Fundraising Costs Unrestricted
Funds
£
4,319		 Restricted
Funds
£
9,372		 Total Funds
For the 18-
month period
ended
31 March
2022
£
13,691		 Total Funds
For the 12-
month period
ended
30 September
2020
£
Nil

In the 12-month period ended 30 September 2020 there was no restricted income.

5. EXPENDED CHARITABLE ACTIVITIES

Employment costs
Support costs
IT Support
Governance costs *
Administration costs
Operational costs		 Unrestricted
Funds
£
84
15,058
120
1,417
2,098
7,245
26,022		 Restricted
Funds
£
98,883
70,030
14155
35,187
1,616
2,327
222,198		 Total Funds
For the 18-
month period
ended
31 March
2022
£
98,967
85,088
14,275
36,604
3,714
9,572
248,220		 Total Funds
For the 12-
month period
ended
30 September
2020
£
Nil
Nil
Nil
852
Nil
3,797
4,649

In the 12-month period ended 30 September 2020 there was no restricted expenditure.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

6. GOVERNANCE COSTS

Professional services
Trustee expenses
Strategic support
Legal costs		 Unrestricted
Funds
£
Nil
1,417
Nil
Nil
1,417		 Restricted
Funds
£
26,470
197
8,520
Nil
35,187		 Total Funds
For the 18-
month period
ended
31 March
2022
£
26,470
1,614
8,520
Nil
36,604		 Total Funds
For the 12-
month period
ended
30 September
2020
£
Nil
402
Nil
450
852

In the 12-month period ended 30 September 2020 there was no restricted expenditure.

7. STAFF COSTS AND NUMBERS

Salaries and wages
Social security
Pension		 2022
£
92,336
6,487
144
98,967		 2020
£
Nil
Nil
Nil
Nil

The average monthly head count during the reporting period was 5 staff (30 September 2020 Nil) with the number of employees at the end of the reporting period being 8. The average number of full-time equivalent employees (including casual and part-time staff) at the end of the reporting period is:

Executive
Learning and Engagement
Technical and Facilities
Marketing and Commercial
Audience
Visitor Experience		 2022
1
2
2
1
1
1
8

8. TRUSTEES

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

Two trustees were reimbursed a total of £1,614 for expenses incurred during the period (2020 one trustee was reimbursed £275)

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DocuSign Envelope ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5

SHAKESPEARE NORTH TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

9. INTANGIBLE FIXED ASSETS

Cost
As at 1 October 2020
Additions
Disposals
As at 31 March 2022
Amortisation
As at 1 October 2020
Charge for the period
Disposals
As at 31 March 2022
Net book value
As at 31 March 2022
As at 30 September 2020		 2022
£
Nil
30,139
Nil
30,139
Nil
Nil
Nil
Nil
30,139
Nil

10. DEBTORS

0. DEBTORS
Prepayments
Accrued income		 Total
2022
£
40,718
119,185
159,903		 Total
2020
£
Nil
Nil
Nil

11 . CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Payroll creditors
Accruals		 Total
2022
£
60,256
4,120
26,470
90,846		 Total
2020
£
Nil
Nil
1,759
1,759

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DocuSign Envelope ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5

SHAKESPEARE NORTH TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

12. ANALYSIS OF CHARITABLE FUNDS

Unrestricted fund
Restricted fund
Total		 Funds
Funds
1 October 2020
Income
Expenditure
Transfers
31 March 2022
£
£
£
£
£
5,660
22,160
(30,341)
35,592
33,071
Nil
346,036
(231,570)
(35,592)
78,874
5,660
368,196
(261,911)
Nil
111,945

The transfer between funds has occurred when the conditions of the grant have been met but have not yet been recognised in the income and expenditure statement. See note 13 for further details.

Unrestricted fund
Restricted fund
Total		 Funds
Funds
1 October 2019
Income
Expenditure
Transfers
30 September
2020
£
£
£
£
£
1,332
8,977
(4,649)
Nil
5,660
Nil
Nil
Nil
Nil
Nil
1,332
8,977
(4,649)
Nil
5,660

13. RESTRICTED FUNDS

The income funds of the charitable company include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Arts Council England
Liverpool City Region
Combined Authority
Granada Foundation
Duchy of Lancaster
Total		 Funds
1 October
2020
Income
Expenditure
Transfers
Funds
31 March
2022
£
£
£
£
£
Nil
66,851
Nil
(5,453)
61,398
Nil
269,185
(231,570)
(30,139)
7,476
Nil
5,000
Nil
Nil
5,000
Nil
5,000
Nil
Nil
5,000
Nil
346,036
(231,570)
(35,592)
78,874

The restricted funds held by the charitable company comprise (see next page);

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DocuSign Envelope ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5

SHAKESPEARE NORTH TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

ARTS COUNCIL ENGLAND

The grant was awarded following an application for funding towards the Shakespeare North Playhouse opening programme. The terms and conditions of the award specify the grant must be used exclusively for the activity described in the application. The opening programme started on 15[th] July 2022.

LIVERPOOL CITY REGION COMBINED AUTHORITY (LCRCA)

The grant funding is paid via Knowsley Metropolitan Borough Council (KMBC) and was awarded to fund initial operational set up costs of the newly built Shakespeare North Playhouse. The LCRCA will pay 43.06% of the costs claimed to the sum of £504,000. Shakespeare North Trust must provide evidence of spend to KMBC in order to draw down grant funding.

GRANADA FOUNDATION

The £5,000 revenue donation was awarded for activities relating to the education and community engagement programme. Activities will reach deprived young people across the borough and beyond.

DUCHY OF LANCASTER

The donation was given with the sole purpose of supporting the very first production in the new state of the art Cockpit Theatre. Shakespeare North Playhouse hosted a national playwriting competition, run in conjunction with BBC’s The One Show, as part of the theatre’s mission to nurture new talent.

The transfer of £5,453 relates to prepayments made in advance of project related expenditure. The transfer of £30,139 relates to the value of intangible assets purchased from restricted funds. The conditions of the grants have been met. The asset is held for general use and not for a restricted purpose.

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DocuSign Envelope ID: 3ECA6BC8-FA9F-4F47-815D-2A646A92E4E5

SHAKESPEARE NORTH TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

18-months ended 31 March 2022

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current Period
Fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year
Total
Previous Period
Fixed assets
Cash at bank and in hand
Other net current assets/(liabilities)
Creditors of more than one year
Total		 Total
Unrestricted
Fund
Restricted
Funds
Funds
31 March 2022
£
£
£
30,139
Nil
30,139
Nil
12,749
12,749
2,932
66,125
69,057
Nil
Nil
Nil
33,071
78,874
111,945
Total
Unrestricted
Fund
Restricted
Funds
Funds
30 September
2020
£
£
£
Nil
Nil
Nil
7,419
Nil
7,419
(1,759)
Nil
(1,759)
Nil
Nil
Nil
5,660
Nil
5,660

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