2025-03-31-accounts

SHAKE8PIARE PIAYHllUSE SHAKESPEARE NORTH TRUST A Company Umlted by Guarantee ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2025 REGISTERED NUMBER: 05923469 CHARITY NUMBER: 1120641 •AEHTQKVV* 2011212025 COMPANIES HOUSE

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SHAKESPEARE NORTH TRUST Annual Report and Financial Statements for the year ended 31 March 202S Contents Pa8e Reference and Administrative Details Chairfs Report CEO'S Report Trustees. Annual Report {Includin8 Directors, Report} 4-10 Independent Auditors. Report 11-15 Consolidated Statement of Flnancial Activities Ilncludin8 Income and Expenditure Account) 16-17 ConsolSdated Balance Sheet 18 Consolidated Statements of Cash Flows 19 Notes to the Financial Statements 20-36

SHAKESPEARE NORTH TRUST Reference and Administrative Details 31 March 2025 Incorporated in England and Wales on 4 September 2006 Company number 05923469 Charlty number 1120641 Chalr of Trustees Max Steinberg Directorsnrustees Max Steinberg Saphena Aziz (Reslgned 26 March 20251 Christopher Brown Coral Cameron Jon Corner Alastair Machray lan Mccarthy Peter Mearns Susan Platt (Resigned l October 20251 Ashley Morgan (Appointed 26 November 2024) Sheena Wri8lev Presldent Edward Stanley, 19, Earl of Derby Honorary Patron Dame Judi Dench Rezlstered offlce Shakespeare North Playhouse Prospero Place Prescot Liverpool Merseyside L34 3A8 Statutory Audttor Mitchell Charlesworth (Audit) Limited Accountants Statutory Audltor Suites C.D.E.F, 141h Floor The Plaza Old Hall Street Liverpool L3 9Qi

SHAKESPEARE NORTH TRUST Chairfs Report For the year ended 31 March 2025 As Chair of the Board. it is a privilege to reflect on another remarkable year for Shakespeare North Playhouse. 2024- 2025 has been a period of resilience, ambition. and transformation. a year in which Shakespeare North has not only continued to inspire its audiences but also strengthened its role as a cultural and community hub for Knowsley and the Liverpool City Region. This year has been marked by bold decisions and a spirit of creative innovation. l-he leadership transition, with Lisa Allen stepping into the role of CEO and Creative Dirertor. has brought both clarity and renewed energy to the or8anisation. Her leadership introduces a refreshed direction that draw5 on the lessons of our formatlve year5 whlle responding thoughtfully to the rapidly evolving soclal and polltlcal landscape. What strikes me most about this year is the organisation's ability .to balance ambition with accessibility. Whether through artist development. learning and engagement programmes. or community initiatlves. the organisation continues to ensure that theatre remains a space for everyone. Sustainability. both in environmental practices and organlsational resilience. has been carefully embedded into our operations. ensurin8 that the organisation thrives for the long term. A5 part of Knowsley Metropolitan Borough Council's cultural strate8y, Shakespeare North Playhouse is at the very heart of the borough's exciting transformation. Knowsley is embracing a new future where creativity, culture, and community come together to drive regeneration and growth. Shakespeare North Playhouse is playing a central role In this; creating job5, nurturing skills. and enhancing well-being. We are helping to shape vibrant spaces that inspire participation. spark imagination. and foster local pride. Through our work. we are continuing to strengthen Knowsley's Identity, open doors to new opportunltie5, and make the borou8h a place where people feel connected, inspired, and proud to belong. As we move into the detailed achievements of the year, I want to acknowledge the extraordinary dedication of our staff, volunteers, supporters. and partners. Their commitment underpins every success and enables Shakespeare North Playhouse to deliver on it5 promise.. to brin8 world-cla55 theatre, inspire crealivity, and create meanin8ful opportunities for artists and audiences alike. I would also like to extend my thanks to our Board of Trustees for their continued commltment, insi8ht and stewardship. Their thoughtful 8overnance has been instrumental In advanclng our goals and shaping another successful year. It is this combination of ambition. care, and communlty that gives me great confidence in the future. The accomplishments outlined in the following pèges are a testament not only to what has been achieved but also to the Vision and resilience that will guide Shakespeare North Playhouse forward. Max Stelnber& Chalr of the Board of Trustees

SHAKESPEARE NORTH TRUST CEO'S Report For the year ended 31 March 2025 As I look back on 2024-2025. 1 am struck by the extraordinary dedication, resilience, and creatlvlty of the entire Shakespeare North Playhouse team. This has been a year of change and the staff, volunteers. and partners have risen to the challenge with remarkable energy and commitment. It's a true testament to every member of the Shakespeare North team that they embrace challenge and change with creativity and are continuously innovative. Our team's achievements this year span every area of the business; artistic, commerclal, and communlty projects. On the commercial side. we have seen stron8 success through building corporate relationships, hosting events, and encouraging audiences to spend more time at the venue, making it their space. Identifying opportunities for strategic investment has been central to this success, evident in the improvements to our kitchen, which now supports venue hire more efficiently and enhances overall visitor experience. Our box oiTice results reflect not only the quality of our productions but 3150 the deep enga8ement we continue to foster across Knowsley and the Liverpool City Region. By listening to our audiences and responding to their need5. we are Seeing sustained audience growth and stronger connertions with our community, resulting in growth in revenue and therefore a stronger future for the organisation. Equally important has been the growth of our education and family programmes, partlcularly for early years audience5. We have welcomed diverse audiences of all ages, offering meaningful creative opportunities. These experiences extend beyond structured, ticketed workshops, our venue has embraced the creation of free. open spaces for imagination and play, where local communities can engage at their own pace and explore their creativity. The new family area is alive with stories and ima8ination from people of all ages. Our future focus will be on deepenln8 and stren8thening the strands of our vlslon, Shakespeare at Home, on the Street. in Schools, in Parks, and through our aspiration to Create an interactive experience. Each represents a commitment to creativity. collaboration. and community, and together they form the foundation for our next chapter. We will continue to animate our spaces, build new partnerships, and take bold steps to ensure that Shakespeare North remains a place where Innovation and heritage meet. 8y expandin8 Opportunities for learning, storytellin8, and connectlon, we wlll further embed Shakespeare North within Knowsley, Insplrlng prlde locally while raislng our proflle reglonally. nationally. and internatlonally. Without the generosity and belief in our vision shown by so many, we simply could not create the extraordinary work we do, nor share the opportunities that inspire, empower, and reach far beyond the sta8e. I would like to take a moment to acknowledge just a few of those whose support has been especially significant this year. Know51ev Metropolitan Borough Council and Arts Council England. for their unwavering commitment to our mission. Our supporters including Lady Dodd, Tritax Bi8Box Oevelopments and the team at City Heart. And our valued education partners. LIPA, Edge Hill. and ULAN. whose collaboration enriches the learning and development opportunlties we can offer. l am also deeply thankful to our individual supporters,. and all our Cockpit Circle members. As we look forward, it is this comblnation of ambition, collaboration, and care for our community that excites me most. To8ether, we will continue to make Shakespeare North Playhouse a space where creativity thrive5. audiences are inspired, and Knowsley's cultural identity continue5 to flourish. Llsa Allen, CEO & Creative Dlrector

SHAKESPEARE NORTH TRUST Tru5tees' Annual Report Ilncludlng Dlrectors, Report) For the year ended 31 March 2025 The Oirectors {who are also the Trustees of the charity, for the purpose of charity lawl present their report and the audited financial statements for the year ended 31 March 2025. The company is a registered charity, Ire8iStered numbe111206411 and company limited by guarantee Ire8iStered number 059234691. The company is incorporated under the Companies Art 2006 and is 8overned by its Articles and Memorandum ofAssociation dated 14 August 2007. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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 published in October 2019. Our Mlsslon We share world-class theatre, activities and conversations inspired by Shakespeare and relevant to all of us. Our Vlslon Inspired by Shakespeare to bring joy to more people in our communities and beyond by telling great stories. democratising spaces and art. creating morè opportunities. expandin8 our partnerships and raising our profile. Shakespeare North continues to drive cultural regeneration. making Prescot an excitln8 destlnation for everyone. Our Charitable Aims and Oblectlves As set out in the charitvs governin8 document the charity's objectives are: To promote the publlc knowledge and appreclatlon of the life and works of Wllllam Shakespeare and the dramatic arts generally. In particular but not exclusively, by the provision of a theatre and facllities for the presentation of public performances. To be a resource for education, learnin8, Outreach, and public enBa8ement. To enable access to arts and culture, In particular theatre. To advance the education of the public in the history and heritage of Prescot and enrSch the local area via means of civic pride. economic growth and placemakin8. To support artist5 and workers within the culture and arts Industries via trainin& development, and opportunltles. Our Or8anlsatlonal Alms Shakespeare North Trust has four key alms for Shakespeare North Playhou5e'. Educatlon, engagement. learning We will ensure people of all ages and backgrounds participate in activities at Shakespeare North Playhouse that are relevant, vibrant, and inclusive. We will engage teachers, artists, school-aged children and the wider cornmunity in the cultural and creative programme at Shakespeare North Playhouse. Thousand5 will learn about the heritage of Shakespeare North Playhouse and Prescot through the delivery of our of ourguided tours, workshops and more. Create an Incluslve and empowerlng place for artists and makers Partnership, co-production, and co.commis5ioning are a key. We will develop strong longstanding relationships with Associate Companies and academic institutions supportin8 pathways into the makin8 of theatre and investing in the local, regional. national cultural eco108V. We will widen access and opportunity for all the artlsts that we engage with. We will invite local arts, crafts, and cultural groups to use the venue a5 their space.

SHAKESPEARE NORTH TRUST Trustees. Annual Report (Includlng Dlrectors. Report) For the year ended 31 March 2025 Our 018anlsatlonal Alm$1¢gntlnued) Regeneratlon of our pla We will be an active business in Prescot, contributing to the economic prosperty of the town. We will actively promote culture and creativity as part of place making and seek to raise aspirations of the people within our community and enrich life's increasing participation in arts and heritage. A reslllent and sustalnable or8anls•tlon We will artrart a minimum of 140,000 regional, national and international visitors to Shakespeare North Playhouse annually. Enabling us to achieve an annual turnover of at least £2.6m. Our Soclal Impact Shakespeare North Playhouse's impact stretches beyond the walls of the buildlng across Prescot, Knowsley and the North impacting communities, families and individuals through contributing to the regeneration of the area, Improved health and well-being. improved access to education, skills and tralnlng, developlng a more vibrant place to live and broadening access to hi8h quality cultural experiences. The true impact of Shakespeare North Playhouse will be seen in year5 and decades to come as generations of people take different pathways and make different life choices a5 a result of the theatre. Measuring and evaluating thi5 Impact is crucial not just in terms of supporting the case for culture but to increase investment, develop new partnershlps and drlve Income and reslllence for the organlsatlon. Our soclal alm 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 experlences. Soclal Impart oblectlves In order to achieve our Soclal Alm. we will deliver a8alnst our five social objectives: Develop and deliver inspirational cultural experiences, ensuring access to all. Provide opportunities for learning, education, and skills development. Support the health and wellbein8 needs of our communities. Contrlbute towards the place shapin8 of a vibrant, cultural. and well-connected communlty. Support a stronger local economy. Achlevements and performance Throughout the year. Shakespeare North Playhouse contlnued to deliver a bold and ambitious programme of events and activities. attractin8 audiences from across the Liverpool City Region. Notably, 24% of audiences were based in Knowsley. In total, over 140k people visited the Playhouse during the year for shows. workshop. events or to grab coffee, including IO% who had never previously stepped foot in a theatre before. Co-productions remained a central feature of the Playhouse's artistic pro8ramme. Commercial performance was robust despite some audience and ticketing challenges. The festive production Alice in Wonderland welcomed 13.077 audience members. with 35% attending for the first time, supported by the highly successful Pay What You Decide initiative. Studio productions, includin8 Little Penguin's First Christmas and Clementine, achieved record success, attracting substantial first-time audiences and demonstratin8 the stron8 appeal of family and new work pro8ramming. Co-productions remain a strong driver for developing audiences. Twelfth Night attrarted 8,319 audience members, with 37% fir5t-time booker5. Love's Labour's Lost attracted 4,750 attendee5. including 32% first-time booker5. demonstratin8 continued audience growth.

SHAKESPEARE NORTH TRUST Trustees, Annual Report (Including Directors, Report) For the year ended 31 March 2025 Achlevements and perforrnante (¢onthiuedJ Twelfth Night successfully met its revenue target and achieved a 67% capatity. the highest for a co-produttion outside Christmas. A new partnership with Warrington Borough Council broadened audience reach. bringing increased attendance from Warrington and Cheshire alongside core audiences from Liverpool. St Helens, and Knowslev. Across the two "More or Less" productions (Comedy of Errors (more or less) 2023 & Love's Labours Lost (more or less) 20251, Shakespeare North saw IO% attend both productions. demonstratin8 a strong foundation of repeat and returnlng audiences. Hi8h-profile additions to the An Evening With series, including Stephen Graham lintervlewSng Chrlstine Tremarcol and Les Dennis, further enhanced the artistic programme contributing to audience growth in comedy and other genres and further strengthenin8 financial stability. Artist development remained a core priorlty, particularly for underrepresented groups. The Graeae Beyond Programme contlnued to support deaf, disabled, and neurodiverse artists, while the Not Too Tame 8ootcamps offered valuable industry experience to working-class actors. In October 2024, the Global Majority Mentor Creative Programme was launched to strengthen 5UPPOrt for Northwest-based artists from the Global Majority, pairin8 mentees with experienced mentors for long-term professional development. Local talent development was a150 a highlight.. Tia Larsen's role as swing performer in Alice in Wonderland led to her casting in the 2025 festive production of Cinderella, and local director Nlcole Behan was appointed to direct the 2025 festive title. Production and technical achlevements were equally signlflcant, Self-produced work Incorporated sustalnable practices, reusing scenic elements and donatlng surplus materlals to local schools and theatres. Capital improvements included the installation of a retractable seating bank in the Studio. increasin8 capacity from 60 to 87 seats, enhancing both audience experience and revenue potential. Learning and En8a8ement continued to deliver meanin8ful Impact, directly engaging 5,300 children and 3,800 adults through workshops, bespoke projects. early years performances, home educatlon sesslons, and partnerships with schools, colleges. and universities. Teacher forums and CPD sessions strengthened relationshlps with educators, whlle community en8agement initiatives, such as free ticketed Dungeons & Ora8ons sessions, ensured Inclusive participation for socially Isolated audiences and those with low incomes. Events and Hires 15 showing growth - developlng both regular and new bookers. Shakespeare North Bar and Kitchen performed well. with improvements in pre-show dining and additional events such as supper clubs. Shakespeare North Playhouse's commitment to artistic excellence, community engagement, sustalnability. and accessibility has been recognised through multlple awards and nominations, including Entertainment Venue of the Year at the Liverpool Tourism Award5 2025 and a finalist position in the People's Choice Award at the Liver pool City Region Culture and Creativity Awards. In summary, 2024-2025 has been a year of resilience. innovation, and growth. The Playhouse has strengthened its artlstic ambition. expanded audience and community en8a8ement, supported underrepresented artists. and delivered a sustainable commercial and operational performance alongside capital improvements. With co-productions and enhanced engagement strategles planned for the comin8 years, Shakespeare North Playhouse is well-posltioned to continue its trajectory as a leading cultural destination in the Liverpool City Region. Volunteers People are at the heart of Shakespeare North Playhouse and our team have been instrumental in ensuring all we hove achieved so far. Volunteers support all aspects of our operation with over 80 committed volunteer5 givin8 7,342 hours of support durin8 the period. Volunteers run our daily Guided Tour through Shakespeare North Playhouse. divin8 deep into the heritage. the rich history of Pfescot and its links to Shakespeare. The Trustees would like to thank all the volunteers for their time, skills, and enthusiasm. We look fonvard to working with volunteers in the coming year and widening the opportunities available to them.

SHAKESPEARE NORTH TRUST Trustees, Annual Report {Includlng Dirertors, Report) For the year ended 31 March 2025 Structure. Governance and Management The company was incorporated on 4 September 2006 and is limited by guarantee Iregistratlon no. 059234691. The company is also a registered charlty (registration no. 11206411. The Oirectors. who are the Trustees of the charity for the purposes of Charity Law, are listed on page l. During the financial year, Lisa Allen was the Chief Executive Officer and Creative Director of the Company and of the charity and has responsibility for the day-to-day management. The Board of Trustees meet at least four times a year to review developments. activities, and achievements. The responsibility for appointin8 new Trustees lies with the Chair and existing Trustees. Any training requirements are identified durin8 the appointment process, and relevant courses will be arranged as needed. Durin8 the reporting period, one Trustee. Saphena ￿11. stepped down from thelr position and one new Trustee, Ashley Morgan, was recruited. Sue Platt stepped down from their position on l October 2025. The 8overnance of the charitable company is the responsibility of the Trustees. Day-to-day management is by the Chief Executive Officer. supported by the leadershlp team and draws from the expertise of the 8oard of Trustees. The Board of Trustees have created and agreed a formal Scheme of Delegation policy which sets Out the respective responsibilities of the Board of Trustees and its Executive team. Shakespeare North Playhouse Is committed to increasing its efforts towards a sustainable. low-waste future. We will 5trlve to continue Improving our environmental sustainability and waste reduction over time and to initiate additional projects and activitles that wlll further our goal of reducing our overall impact. Related party relatlonshlps The charlty has consldered the dlsclosure requirement5 of the SORP for related party relationships and believes there are no related party relationships other than the Trustees and thelr close connections. There were no reportable transactions wlth related parties In the year ended 31 March 2025. Risk management The Trustees have examlned the major strate8lc, business. and operatlonal rlsks whlch the charlty faces and conflrm that systems have been establlshed to enable re8ular report5 to be produced 50 the necessary steps can be taken to mltigate these risks. Publlc benefit The trustees have paid due regard to the Charity Commlssion's guldance on publlc beneflt In decldlng what actlvltles the charity should undertake. The trustees consider that they have acted in the public benefit. Flnancial perforfflante In 2024125 Shakespeare North Playhouse generated Income of £3.293.12812024: £2.967,9161 an overall increase of £325.212 being a Il% increase on the previous year. This increase is due to growth across the business including a successful Trust and Foundation application (National Lottery Heritage Fund). a growing events and hires business and growing artistic programme. Out of total income 30%12024.. 32%) was raised through ticket sales, 61%12024.. 58%> via fundraised income and 9% {2024.. 11%) through commercial activity. The total outrun for the financial year was a deficit £494,827 {2024.' deficit £463,062}. Trusts and foundations applications and donations brought in funds of £274.883 12024: £176.8441, Gift aid £8.120 12024: £22.0621 and restricted grants £566,77212024- £567,875). Charitable income for ihe 12 months ending March 2025 was £2.084.31312024: £1.860,2491 and trading income from commercial activities was £359,04012024.. £340.8861, The total income for engagement activities includin8 workshops, events and schools, partnerships for the 202412025 financial year was £274,62212024: £181.0811.

SHAKESPEARE NORTH TRUST Trustees, Annual Report (Including Directors, Report) For the year ended 31 March 2025 Flnanclal performance Icortinutdj At the year-end 24125 Events and Hires income was £78,41312024: £47,455}. Total expenditure for the year was £3,7B7,95512024.. £3,430,978), being an increase of £356.977 representing a 10% increase on the previous year. The increase on expenditure this year was more than the increase on income due to rising cost of sales and staffing costs. In April 2023, we were welcomed into Arts Council England's National Portfolio. having applied before opening and becoming the first NPO (National Portfolio Organisationl in Knowsley. This vital revenue fundin8 will bring in £400.000 annually until 2028. Theatre tax relief has been an important part of the business plan. bringing in £ £150,953 for 2024125 compared to £144.133 for 2023124. Amongst the £494,827k deficit for the year. is an amount of £224,94912024-. £129,981) for irrecoverable VAT. This is a significant increase on prior year due to taxable turnover in year bein8 less than that of previous periods. Therefore wlth partial exemption rules this results in a lower percenta8e that could be reclalmed against expendlture resultlng In a higher value for irrecoverable VAT. Reserves poll¢v The Board of Trustees has consldered the level of financial reserves requlred to enable the organlsation to meet Its obll8ations on an on-going bas15. The Tru5tee5 con51der that they should alm to hold, as unrestricted funds, a level of reserves equivalent to at least two months. out8oin8 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 a5 envisa8ed. The budgeted expendlture for the year ending 31 March 2026 is £3,138,984 and the target level of reseNes Is set at £1,51YJ,000 which equate5 to approximately six months of Eeneral funds expenditure. The strategy is to build sufficient reserves throu8h operatin8 surpluses. The Trustees and senior leadership team are aware of the urgency to react to any shortfall in income. There was a deficit on unrestricted reserves as at 31 March 2025 of £ 757,784 12024.. £272,896). Excluding fixed assets, the deficit on unrestricted reserves as at 31 March 2025 wa5 £1,021,77012024'. £497.4301. Golng concern The trustees have considered the going concern basis of preparation for the Charity and as previously outlined, income is increasin8 year on year with many areas of the business growing and wlth further future opportunities. There is significant appetite for Events and Hires both in terms of diversifyin8 the offer (which now includes weddin85I and 8rowin8 both the regular and new customer base. Food and Beverage have seen positive growth with a new brand and menu with a significant uptake in pre-show dining in 2025. Throu8hout the current financial year, testing of new types of events has fed into future programme including an increase in music events in the Cockpit and family programme across all Spaces, particularly at Chri5trnas. A challengin8 landscape for fvndraisin8, in particular Trusts and Foundations which are all heavily over-subscribed, has meant that new targets are realistic and focus on Indlvidual glving and growing corporate support. Three years on from opening. 360,000 visits to the building, 197,000 tickets booked and over 48,000 customers on the database, bookin8 data is ensurin8 that the projections for the artistic programme are accurate and based on detailed and nuanced audience marketing campaigns.

SHAKESPEARE NORTH TRUST Trustees, Annual Report (Includln8 Dlrectors, Report) For the year ended 31 March 2025 Goln8 Concern (e¢MtlnuedJ Following the financial year end, a three-year financial plan was created by the Senior Leadership Team. This plan will deliver increasing income year on year with increased and more diverse programming (tested in 2025 including more music events and family oriented programmingl across all three spaces. maximising co-producing tncome, increases on trading income via the opportunities presented to grow income in Events and Hires as well as the naming rights commercial sponsorship project which will increase fundraised income. In particular, the 2026 budget shows a total increase in income of £566k on the current financial year. In addition. over the forthcomln8 3 years, Shakespeare North's new'vision strands of work will be8ln, some of which will deliver income to core, including Shakespeare in Parks and Shakespeare in Schools. As part of the reconciliation of the VAT account in the 12 months to March 25, there is a better understanding moving forward of the potential amount of irrecoverable VAT that it is not possible to claim. The two largest stakeholders and financial supporters have committed their ongoin8 financial sUPPOrt to the Charity for a period of at least 12 months from the date of signing of these financial statements. Taklng all of thls Into conslderatlon the trustees have reviewed the revised budgets for a period of 12 months from signin8 these financial statements and expect that the Charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. As a result of this they continue to adopt the going concern basis in preparin8 the financial statements. Further details Te8ardin8 the adoption of the going concern basis can be found In note l. Slatement of Trustees. responsibllltles The trustees, who are also directors of Shakespeare North Trust for the purposes of company law, are responsible for preparing the Trustees. Annual Report and the financial statements in accordance wSth applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which 8ive a true and fair vlew of the state of affairs cf the charity and of the incoming resources and applicatlon of resources. including the income and expendlture. of the charitable company for that year. In preparing these financial statements, the trustees are required to: 5elert sultable accountln8 pollcies and then apply them consistently observe the methods and principles in the charlties SORP 2019 IFR51021: make judgements and estimates that afe reasonable and prudent,. state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at ar)y time the financial position of the charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable step5 for the preventlon and detection of fraud and other Irregularities. In so far as the trustees are aware- there is no relevant audlt informatlon of whlch the charitable company's auditor Is unaware: and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information, and to establish that the auditors are aware of that information.

SHAKESPEARE NORTH TRUST Trustees, Annual Report Ilncluding Dlrectors. Report) For the year ended 31 March 2025 Auditors Mitchell Charlesworth (Audit) Limited are deemed to be re-appointed under section 487(21 of the Companies Act 2006. Thlg report was approved by the Board of Trustees on 26 November 2025 and si8ned on its behalf by: Max Steinberg Chalr of Trustees 101 Page

Mitchell Charlesworth (Audit) Limited Accountants Sultes C,D,E,F, 14th Floor, The Plaza, Old Hall Street. Llverpool. Merseyslde. L3 9QJ SHAKESPEARE NORTH TRUST Independent Auditorfs Report to the Members of Shakespeare North Trust Year ended 31 March 2025 Oplnlon We have audited the financlal statements of Shakespeare North Trust {the 'parent charitable compan¢) and its subsidiaries (the '8roup'l for the year ended 31 March 2025 which comprlse the Consolidated Statement of Financial Activities, the Consolidated Balante Sheet, the Charlty Balance Sheet, the Consolidated Statement of Cash Flows and the notes to the financial statement5, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accountlng Practlce). In our opinlon the financial statements: give a true and fair view of the state of the group's and the parent charitable company's affairs as at 31 March 2025, and of the group's incoming resources and application of resourees, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Aecepted Accountlng Practlce.. and have been prepared in accordance with the requirements ofthe Companies Act 2006. 8asis for oplnlon We conducted our audit In accordance wlth Internatlonal Standards on Audltlng IUKI IISAS IUKII and appllcable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, includin8 the FRC'S Ethical Standard and the provisions avallable for small entities, in the clrcumstances set out in note 26 to the financial statements, and we have fulfilled our ethical responsibilltles In accordance wlth these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Materlal uncertalnty related to golng concern We draw attention to note 1.4 headed golng concern In the financial statements. which indicates that the charity has made a deficit for the year, which has resulted in a net liability position. As stated in note 1.4 and the Trustees report. these events or conditions, along with other matters as set forth in note 1.4, indicate that the Charity has relied upon funding and sUPPOrt from external organizations in reaching their going concern conclusion. Our opinion is not modified in respect of this matter. Concluslons relatlng to golng concern In auditing the financial statements we have concluded that the board's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our responsibilitie5 and the respon5ibilitie5 of the trustees with respect to 8oin8 concern are described in the relevant sections of this report. 111 Page

Mitchell Charlesworth (Audit) Limited Accountants Suites C,D,E,F, 14th Floor. The Plaza, Old Hall Street, Liverpool, Merseyslde, L3 9Ql SHAKESPEARE NORTH TRUST Independent Auditor's Report to the Members of Shakespeare North Trust Year ended 31 March 2025 Other Informatlon The other information comprises the information included in the Trustees, Annual Report, other than the financlal statements and our Auditorfs Report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other informatlon and, except to the extent otherwise expllcltly stated In our report, we do not express any form of a$5urance conclusion thereon. Our responsibility is to read the other information and, In doing so. consider whether the other information Is materially inconsistent with the financial statements or our knowled8e obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconslstencies or apparent material mlsstatements. we are required to determlne whether this glves rise to a material misstatement In the financlal Statements themselve5. If. based on the work we have performed. we conclude that there Is a materlal mlsstatement of this other informatlon, we are required to report that fact, We have nothing to report in this regard. Oplnlons on other matters preKrlbed by the Companies Act 2006 In our opinion. based on the work undertaken In the course of the audit,. the information 8iven in the Trsjstees. Report for the financial year for which the financial statements are prepared, which includes the directors. report prepared for the purposes of company law, Is consistent wlth the financial statements- and the Directors, Report included wlthin the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by ex¢•ptlon In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit. we have not identified material mi5Statements in the Directors, Report included within the Trustees, Report. We have nothlng to report in respect of the following matters in relation to whlch the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us: or the parent charitable company's financial statements are not in agreement with the accounting records and feturns: or certain disclosures of directors, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit.

Mitchell Charlesworth (Audit) Limited Accountants Sultes C.D E F 14th Floor, The Plaza, Old Hall Street. Llverpool, Merseyside, L3 9QJ SHAKESPEARE NORTH TRUST Independent Audltorfs Report to the Members of Shakespeare North Trust Year ended 31 March 2025 Responslbilltles of trustees As explained more fully in the trustees, responsibilities statement set out on page 9. the trustees, who are also the directors of the parent charitable company for the purposes of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determSne is necessary to enable the preparation of flnanclal statements that are free from rnaterlal mlsstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and parent charitable companrfs abillty to continue as a goin8 concern. disclosin& as applicable, matters related to 80ing concern and using the going concern basis of accountin8 unless the trustees either Intend to liquidate the group or the parent charitable company or to cease operations, or have no realistlc alternative but to do so. Audltorfs responsibllltles for the audlt of the financlal Statements We have been appointed auditor under the Companles Act 2006 and report in accordance with this Act. Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materlal if, Individually or In the a88re8ate, they could reasonably be expected to Influence the economic declslon5 of u5er5 taken on the basis of these flnancial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, outlined above, to detect material misstatements In respect of irre8ularities, includin8 fraud. The extent to which our procedures are capable of detectin8 Irre8ularities, Including fraud, is detailed below. Extent to whlch the audit was consldered Capable of deterting Irregularltles. IncludSn8 fraud We identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, and then design and perform audit procedures responsive to those risk5, includin8 obtainin8 audit evidence that is sufficient and appropriate to provide a basis for our oplnion. 13 | Page

Mitchell Charlesworth (Audit) Limited Accountants Suites C,D,E,F. 14th Floor, The Plaza, Old Hall Street, Llverpool, Merseyslde, L3 9QJ SHAKESPEARE NORTH TRUST Independent Audltor's Report to the Members of Shakespeare North Trust Year ended 31 March 2025 Identifyln8 and aSSe￿Ing Potentlal rlsks related to Irre8ulaTltles In identifyin8 and assesslng risks of material mlsstatement In respect of Irregularities. Including fraud and non- compliance with laws and regulations, we considered the followin8'. the nature of the Industry and sector, control environment and business performance,. the charit￿$ own assessment of the risks that Irregularities may occur either as a result of fraud or error; the results of our enquiries of management and members of the Board of Trustees of their own identif ication of and assessment of the risks of Irregularlties; any matters we identifled havlng obtained and reviewed the charitvs documentatlon of their pollcles and procedures relating to: identifying,. evaluating and complyin8 Wlth laws and re8ulations and whether they were aware of any instances of non-compliance,. dÈtectlng and respondin8 to the rlsks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations: and the matters discussed amon8 the audlt engagement team regarding how and where fraud might occur in the financlal statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the followin8 areas: lilThe presentation of the charity's Statement of Financial Actlvltles, (li) the charity's accounting policy for revenue recognition. liiil the overstatement of salary and other cost5. and livl the understatement of creditors. In common with all audits under ISAS IUKI, we are also required to perform specific procedures to respond to the risk of mana8ement override. We also obtained an understanding ol. the legal and regulatory framework that the charlty operate5 In, focusin8 on provision5 of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Statement of Recommended Practice - 'Accountin8 and Reporting by Charities. issued by the jolnt SORP making body. In addition, we considered provisions of other laws and Tegulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charivs ability to operate or to avoid a material penalty. These included Safeguarding and Data Protection Regulations. 141 Page

Mitchell Charlesworth (Audit) Limited Accountants Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ SHAKESPEARE NORTH TRUST Independent Audltorfs Report to the Members of Shakespeare North Trust Year ended 31 March 2025 Audit response to risks Idenllfled In addition to the above, our procedures to respond to risks identified included the following.. reviewing the tinancial statement disclosures and testing to supportlng documentation to assess compliance with relevant laws and re8ulations described above as having a direct effect on the financial statements; enquiring of management and members of the 8oard of Trustees concerning actual and potential litigatlon and claSms,' performin8 analytical procedures to identify any unusual or unexpected relationships that may Indicate risks of material misstatement due to fraud,. readin8 minutes of meetln8s of those char8ed wlth 8overnance and reviewln8 correspondence wlth relevant authorities where matters Identlfied were 51gniflcant,, in addressin8 the risk of fraud throu8h management override of controls. testing the appropriateness of journal entries and other adjustments,. asse55in8 whether the jud8ements made in makin8 accounting estimates are Indlcative of a potential blas,. and evaluating the business rationale of any significant transattions that are unusual or outside the normal course of busine55. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non<ompliance with laws and regulations throughout the audit. Because of the inherent limitatlons of an audlt, there is a rlsk that we will not detect all irre8ularitle5, including those leadin8 to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be le55 likely to become aware of instances of non-compliance. The risk is also greater regardin8 irregularities occurrin8 due to fraud rather than error. a5 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibllltSes is available on the Financial Reportin8 Council's webslte at https.'l/www.frc.or auditorsres onsibilities. This description forrns part of our auditorfs report. Use of our report This report Is made solely to the charitable Company's members. as a body, in accordance with Chapter 3 of Part 16 01 the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable companvs members those matters we are required to State to them in an auditorf5 report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charltable company's members as a body, for our audlt work, for this report, or for the oplnlons we have formed. Loulse Casey (Senior Statutory Auditor) for and on behalf ol MStchell Charle5WOrth (Audlt) Umlted Accountants Stalutory Audltor th Sultes C.D,E,F. 14 Floor The Plaza Old Hall Street Merseyside L3 9QJ 26 November 202S

SHAKESPEARE NORTH TRUST Consolidated Statement of Financlal Activities (including Income and Expenditure Account) for the year ended 31 March 2025 Total Year Ended 31 March 2025 Total Yeai Ended 31 March 2024 Unrestrirted Funds Restrlcted Funds Notes Income from: Donations and legacies Charitable activities Other trading activities 256,280 2,084,313 359,040 593,495 849,775 2.084,313 3S9,040 766,781 1.860.249 340,886 Total Income 2,699,633 593,495 3.293,128 2.967,916 Expendltuie on: Raisin8 funds Charitable activities 150.247 3,034,274 150,247 3,637.708 136,558 3.294,420 603.434 Total e¥pendlture 3.184,521 603,434 3,787,95S 3,430,978 Net Intome/lexpendlture} 1484,8881 19,9391 1494,8271 1463,0621 Reconclllatlon of funds.. Total funds brought forward 22 (272,896) 9,939 1262,9571 200,105 Total lunds carrled forward 22 1757,7841 1757,7841 1262.9571 The Statement of Financial Activities includes all 8ain5 and losses recognised in the year. All Income and expenditure derlves from continuln8 activities. The Statement of Financial Actlvltles also complSes with the requirements for an Income and Expendlture Account under the Companies Act 2006. The notes on pages 20 to 36 form part of these flnancial statements 161 Page

SHAKESPEARE NORTH TRUST Consolidated Statement of Flnanclal Artivities lincluding Income and Expenditure Account) for the year ended 31 March 2025 Comparative Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2024 Total Year Ended 31 March 2024 Total Year Ended 31 March 2023 Unrestrirted Funds Restrirted Funds Notes Income from: Donations and legacies Charitable activities Other trading activities 197.956 1,860,249 340,886 568.825 766,781 1.860,249 340,886 831,067 1.689,695 306.871 Total Income 2.399.091 568.825 2,967,916 2,827,633 Expendlture on.. Raisin8 funds Charitable activlties 136.558 2.698,634 136,558 3.294,420 155,057 2,584.416 595.786 Total expendlture 2.835.192 595,786 3,430,978 2,739,473 Net Incomellexpendlturel 1436,1011 126.9611 1463.0621 88,160 Reconclllatlon of funds.. Total funds brought forward 22 163.205 36.900 200,105 111,945 Total funds carrled forward 22 1272.8961 9,939 1262,9571 200,IOS The Statement of Financial Activities includes a118ains and losses recognlsed in the year. All income and expendlture derives from contlnuing activities. The Statement of Financial Activities also complies with the requirements for an Income and Expenditure Account underthe Companies Act 2006. The notes on pa8es 20 to 36 form part of these financial statements 171 Page

SHAKESPEARE NORTH TRUST Balance Sheet 31 March 2025 Notes 2025 2024 Group Charity Group Charity Flx¢d assets Intangible assets Tanglble assets Investments 15 16 17 26,257 237.728 26,257 215,865 39,384 185,150 39,384 164,848 263,985 242,124 224,534 204,234 Current assets Stock Debtors Cash at bank and In hand 18 19 14,671 3S9.700 164,018 14,047 548.952 266.602 262,525 116,101 389,584 264,602 538,389 378.626 829.601 654,186 Credltors Amounts falllng due within one year 20 1.560,158 1.378.532 1.317.092 1,121,373 Net current assets/lliabilitiesl 11.021,7691 {999,9061 {487,4911 1467,1871 Net assetsllllabllltSes) 23 (7S7,7841 1757,782} 1262.9571 {262,9531 Funds Unrestricted funds General funds 22 {757,7841 1757,7821 1272,8961 1272,8921 Restrirted funds 22 9,939 9,939 Total funds 22 {757,7841 17S7,782} 1262.9571 1262,953 The financial statements were approved by the Board of Trustees and authorised for issue on 26 November 2025. and are signed on their behalf bv: Max Steinberg Chair of Trustees Coral Cameron Chair of Flnance Risk and Governance Commlttee Company Registratlon Number: 05923469 The notes on pages 20 to 36 form part ofthese financial statements 181 Page

SHAKESPEARE NORTH TRUST Consolldated Statements of Cash Flows Year ended 31 March 2025 Notes 2025 2024 Cash flow from oper•tln8 artlvltles 24 117.2001 139.604 Cash flow from investing artivitles Payments to acquire fixed assets 185,3841 17.244} Net cash flow from Investin8 actlvltles 185,3841 17,2441 Net Increase / (deciease) In Cash and cash equivalents 1102,5841 132,360 Cash and cash equlvalents at l Aprll 2024 266.602 134,242 Cash and cash equivalents at 31 March 2025 164.018 266.602 Cash and cash equlvalents ¢onslsts of: Cash at bank and in hand 164,018 266.602 Cash •nd cash equlv•lents at 31 March 2015 164,018 266,602 The notes on pages 20to 36 form part ofthese financial statements 191 Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 l. Attounting poll¢les i.ii Trust Informatlon Shakespeare North Trust is a charitable organisation re8iStered in the United Kingdom. The address of the registered office is given in the charity information on page l of these financial statements. The nature of the charity's operations and pr incipal activities are described in the Trustees. Report on page 3. Basis of preparation The financial Statements of the charitable company, which is a public benefit entlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin8 and Reportin8 by Charitie5: Statement of Recommended Practice applicable to charities preparing theif accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive I January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, the Companies Act 2006 and UK Generally Accepted Accountin8 Practice. Basls of consolldatioft The accounts consolidate the results of the charity and its wholly owned subsidiaries, Shakespeare North Playhouse Production Ltd and Shakespeare North Playhouse Trading Ltd, on a line-by-line basis. The trustees have taken advanta8e of $408 Companles Act 2006 regardlng exemptlon from the requirement to prepare a separate Statement of Financial Activities for the charity. The net lexpenditurellincoming resources dealt with in the accounts of the charity is1£494,827112024'. deficit of £463,062). 1.31 A¢countln8 conventlon These financlal statements have been prepared on a going concern basls under the hlstorlc31 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. Monetary amounts in these financial statements are rounded to the nearest É. The principal accountlng policies adopted in these financial statement5 are set out below. These polities have been consistently applied to all years presented unless Otherwise stated. 1.4) Goin8 Concern Notwithstandin8 current net liabilities of £7S7.784 {2024.. £262,957) and forecast outturn for the year endin8 31 March 2026 of £262,63412025'. £175,5471, the Trustee5 consider that the charitable companv will continue as a 80in8 concern for a period of at least 12 months from the si8ning of these financial statements. This assessment has taken into consideration a number of factors including a letter of support dated 26 November 2025 from Knowsley Metropolitan Borough Council in which it commits to provide financièl support for 12 month5 from the date of approval of the accounts. as the charitable company continues to trade as it transitions to a sustainable business plan. This Is coupled with the committed support ofArts Council England for the next 3 year5. The trustees have considered the going concern basi5 of preparation for the Charity and as previously outlined, income is increasing year on year with many areas of the business growing and, as the or8anisation is still in its infancy, there are further future opportunities for growth as audiences develop and profile increases re8ionally and nationally. There 15 $18nificant appetite for Events and Hlres both In terms of diversifying the offer (which now includes weddings) and growing both the regular and new customer base. Food and Beverage have seen positive growth with a new brand and menu with a significant uptake in pre-show dining in 2025. Throughout the current financial year, testing of new types of events has fed into future pro8ramme including an increase in music events in the Cockpit and family programme across all spaces. partlcularly at Chflstmas. In the coming years It Is the intention of the Trustees to build reserves which will improve viability and sustainability for the longer term. Taking all of this into consideration the trustees have reviewed the revised budgets for a period of 12 months from 5ignin8 these financial statements and expert that the Charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. As a result of this they continue to adopt the going concern basis in preparing the financial statements.

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 Attounting policies Icontlnuedl 1.5) Income All income Is reco8nised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the irncome will be received, and the amount can be measured reliably. Income from government and other grants, whether 'capitaf grants or 'revenue' grants, is recogni5ed when the charity has entltlement to the funds, any performance conditions attached to the grants have been met, it Is probable that the incorne wlll 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 servlce Is deferred until the cfiterla for income recognition are met. Donations from Indivlduals and other bodies (not being the nature of a grant) are reco8nised when recelvable. Short term investment Income is received as rental income during the period. Income is reco8nised once the charitable company has entitlement, it Is probable that the income will be received, and the amount can be measured reliablv, 1.6) Expendlture Expenditure Is recognised on an accruals basis as a liabllity is incurred. Charitable expenditure comprises those costs Incurred by the charltable company in the delivery of Its activities. Governance costs include those costs associated with meetin8 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 artivity comprise both costs that can be allocated directly to such actlvities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as an expense a8ainst the activity for which expenditure arose. 1.7) Support Costs allocatlon Support costs are those that assist the work of the charity but do not dlrectly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objectives of the charity. Where support costs cannot be directly attributed to particular headin85 they have been allocated to cost of ralslng funds and expenditure on charitable activities on a basis consistent with use of the resources. The analysis of these costs is included in note 7. 1.81 Tanglble flxed assets Tangible fixed a55ets are initially measured at C05t and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation Is provided on a stral8ht line basis usin8 rates calculated to write down the cost of each asset to its estimated residual value over its anticipated useful life as follows: Fixtures and equiprnent Theatre and produrtion equipment 7 years 7 years

SHAKESPEARE NORTH TRUST Notes to the Flnancial Statements Year ended 31 March 2025 Accountlng poll¢les ICohtlnu•dl 1.8) Tangible fixed assets Icontinuedl The charitable company capitalises fixed assets over a value of £l.000. The gain orloss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carryin8 value of the asset. and is credited or char8ed to the statement of financial activities. 1.9) Intangible Ilxed assets Intangible fixed assets are stated at cost less amortisation. Amortisation 15 provided on a straight-line basis usin8 rates calculated to write down the Cost of each asset to lis estlmated residual value over its anticipated useful life as follows: Intangible assets 3 to 5 years I,ioi Impairmenl of flmed 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 lif anv). i.iii Investrnents Investments In subsidiaries are rneasured at Cost le55 Impalrment. 1.121 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materlals and. where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for dlstribution at no or nominal consideration are measured at the lower of cost and replacement cost. adjusted where applicable for any10$5 of service potential. At each reportlng date. an assessment Is made for Impalrment. Any excess of the carrylng amount of stocks over its estimated sellln8 price less costs to complete and sell is reco8nised as an impairment loss. Reversals of impairment losses are also reco8nised in profit or loss. 1.13) Oebtors Trade and other debtors are reco8nised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.14) Cash and cash equlv•lents Cash and cash equivalents are basic financial assets and 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. 8ank overdrafts are Shown wlthin borrowings in current liabilities. 1.151 Credltors 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. Creditor5 and provisions are normally recognised at their settlement amount after allowing for any trade dlscounts due.

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 Accounting policies Icontlnuedl 1.16) Flnan¢lal Instruments The Charitable company has eletted to apply the provisions of Sertlon 11 '8aslc Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. The charltable company only has financial assets and financlal liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thelr settlement value. 8aslc flnancial 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 usin8 the effectlve Interest method unless the arran8ement constitutes a financin8 transactlon, 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. Bas1¢ flnanclal Ilabllltles Basic financial liabilities. including creditors and loans from fellow group companies 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 arnortised. Debt nstruments are subsequently carried at amort15ed cost. usin8 the effective interest rate method. Trade creditors are obligations to pay for 8oods or servlces that have been acquired In the ordinary course of business from supplier5. Amounts payable are classified as current liabilities if payment 15 due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognlsed Initially at transaction prlce and subsequently measured at amortised cost usln8 the effective Interest method. 1.17) Taxation The charity is exempt from corporatlon tax on Its charitable actlvitles. 1.18) Theatre Tax Rellef Where the tradin8 Subsidiary. Shakespeare North Playhouse Production Ltd, incurs qualifyin8 losses in respect of theatre productions, the company has decided that these will be surrendered for a cash payment from HMRC under the Theatre Tax Credit regime. Where receipt of these tax credits is virtually certain they are included in the accounts in the year in which the qualifying losses were Incurred, 1.191 Employee beneflts The costs of short-term employee benefits are recogni5ed as a liability and an expense, unless those costs are required to be reco8nised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement Is recogni5ed in the period in which the employee's services are received. Termlnatlon beneflts are recognlsed Immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.20) Retlrement beneflts 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.

SHAKESPEARE NORTH TRUST Notes to the Flnancial Statement5 Year ended 31 March 2025 Accounting pollcles IContlnu•dl Fund accounting Unre5trirted funds can be used in accordance with the charltable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity- Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. 1.22) Judgements and key sources of estimatlon uncertainty In the application of the company's accounting policies. the trustees are required to make judgements. estimates and assumptlons about the carrying amount of assets and 1Sabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptlons are reviewed on an ongoing basis. Revlslons to accountin8 estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the perlod of the revision and future periods where the revision affects both current and future perlods. The key accounting estimates of the charity are the amortisation of intangible fixed assets. the depreciation of fixed assets and the accrual and deferral of grant income. Amortisation of Intan8lble fixed assets Is provided on a stralght-line basis using rates calculated to wrlte down the cost of each asset to its estimated residual value over its anticipated useful life of 3 to S years. Tangible fixed assets are'depreciated on a straight line basis using rates calculated to write down the cost of each asset to Its estimated residual value over the anticipated useful lives detailed In note 1.8. Income from 8overnment and other 8rants, whether 'capital' grants or 'revenue' 8rantS, 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 rellably. Income received in advance of the provlsion of a specified servlce Is deferred until the criteria for Income recognition are met. 241 Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 Donatlons and legacles Year Ended 31 March 2025 Year Ended 31 March 2024 Unrestrirted Funds Restricted Funds Donations and 8ifts Gift Aid Donations in kind Grants 200,460 8,120 47,700 26,723 227,183 8.120 47,700 566.772 129,144 22,062 47,700 567,875 566.772 256,280 593,495 849,775 766,781 Donations and legacies in the period ended 31 March 2024 totalled £766,781. of which £567,875 was attributable to restricted grants, £950 to restricted donations and gift and £197,956 to unfestricted funds. Charitable actlvltles Year Ended 31 March 202S Year Ended 31 March 2024 Unrestricted Funds Rèstrlcted Funds Income from charltable activltles 2.084.313 2,084.313 1.860,249 Charitable activities in the year ended 31 March 2024 totalled £1.860,249, all of which was attributable to unrestricted funds. In¢ome from other tradln8 artlvlii•s Year Ended 31 Mar¢h 2025 Year Ended 31 March 2024 Unresl,rlrted Funds Restrlded Funds Other trading activities Room hire 318,674 40,366 318,674 40,366 317,871 23,015 359.040 359.040 340,886 Income from other trading activities in the year ended 31 March 2024 totalled £340,886. all of which was attributable to unrestricted fund5 Ralslng funds Year Ended 31 March 2025 Y•ar Énd•d 31 March 2024 Unrestricted Funds Restricted Funds FundraisinB costs Trading activities 1,063 149.184 1,063 149.184 12,227 124,331 150,247 150,247 136,558 In the period ended 31 March 2024 fundraising c05t was £136,558. of which £nil was attributable to restricted and £136,558 wa5 attributable to unrestricted funds. 251 Page

SHAKESPEARE NORTH TRUST Notes to the Flnancial Statements Year ended 31 March 2025 EJ(penditure on charitable activitie5 Year Ended 31 March 2025 Year Ended 31 Mar¢h 2024 Unrestricted Funds Restrlcted Funds Support costs (Note 71 Governance costs INote 8} Operational costs 1,978.513 151,305 904.4S6 1,978.513 151,30S 1,507,890 2,016.666 108,572 1,169,182 603,434 3,034.274 603.434 3,637.708 3,294.420 In the period ended 31 March 2024 the costs associated with charitable activities were £3,294,420, of which operotlonal costs of £595,786 were attributable to restricted and £2.698,634 were attrlbutable to unrestricted expenditure. Allotation of support costs Year Ended 31 March 2025 Year Ended 31 March 2024 Employment costs Telephone Printing, postage and stationery Computer costs Repairs and maintenance Professional services Offlce costs Rent Travel Training Depreciation Memberships Sundry Insurance Marketing Irrecoverable VAT Bad debts 961,862 12,581 4,585 92,710 163,089 27,490 181,256 47.700 15,620 6,016 45,933 3,247 3,547 82,532 105,396 224,949 956.924 16.723 2,824 81.940 131,250 35.451 361,005 47.7(Kl 15.805 1.882 44.516 7,753 5,241 57,333 107,629 129.981 12,709 1.978.513 2.016,666 In the period ended 31 March 2024 support costs were £2.016,666 of which all was attributable to unrestrirted expenditure.

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 Governance costs Year Ended 31 March 2025 Year Ended 31 March Z024 Unrestrlcted Funds Restrlcted Fund$ Professional services Audltorfs remuneratio Trustee expenses 136,615 13.400 1,290 136.615 13,400 1,290 95.870 12,500 202 ISI,305 151,305 108,S72 In the period ended 31 March 2024 governance costs were £108.572, of whlch all was attrlbutable to unrestricted expenditure. Net Income/{expendlturel lor the year Thls Is stated after charging.. Year Ended 31 Mar¢h 2025 Year Ended 31 March 2024 Audltor's remuneration Depreciation of fixed assets 21,700 45,933 17,750 44.516 io. Audltor's remuneratlon The auditorfs remuneration amounts to an audlt fee of £7,100 for the parent charity12024 - £6.7001. £6.300 for the limited company subsidiaries12024 - £S,8001 and non-audit fees of £8,30012024- £5,250). ii. Group staff costs and numbers Year Ended 31 March 2025 Year Ended 31 Mareh 2024 Salaries and wages Social Security Pension 1,284.155 109.265 22,062 1,158.625 90,624 18.363 1.415.482 1.267,612 271 Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 ii. Group staff costs and numbers [ContSnuedl The average monthly head count during the reportin8 period was 69 staff 12024: 721 with the number of employees at the end of the reporting period being 72. The average number of full-time equivalent employees (including casual and part-time staffl at the end of the reporting period is.. Year Ended 31 March 2025 No. Year Ended 31 March 2024 No. Executive Learning and engagement Artistic programme and production Technical and facilitles Marketing. commercial and vlsltor experience Corporate service5 12 53 Is 51 81 80 The number of employees who received total employee benefits lexcludin8 employer pension costs) of more than £60,000 per annum were as follows:. Year Ended 31 March 2025 No. Year Ended 31 March 2024 No. £60,001- £70,000 £70,001- £80,000 12. Key management personnel remunerailon and expenses The total amount of employee benefits received by key management personnel is £281,99312024 £225,230). In respect of the above periods the trustees consider the key mana8ement personnel to be: Chief Executive Officer Creative Director and Programmer Director of Marketing and Commer¢jal Director of Corporate SeThices 13. Pensions and other post-retlrement benefits The charity operates a defined contribution pension plan for its employees. The athoynt recognised as an expense in the period was £22,06212024 - £18,363). The pension contributions outstanding at the year end and included in other creditors totalled £8,943 12024.. £8.2121. 14. Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the Trust during the year. One trustee was reimbursed a total of £1.290 for expenses incurred during the year12024 one trustee was reimbursed £2021. 28 | Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 15. Intangible fixed assets Gwoup and charltv Webslte Branding Total C05t As at l April 2024 40,639 25,000 65,639 As at 31 March 2025 40,639 25.000 65,639 Amortlsatlon As at l April 2024 Charge for the period 16,255 8,127 10,000 5.000 26,255 13,127 AS at 31 March 2025 24,382 15,000 39,382 Net book Value As at 31 March 2025 16,257 10,000 26,257 As at 31 March 2024 24.384 15,000 39,384 16. Tanglble flxed assets Group Flxtures and Productlon Flttlngs Equlpment Charity FI￿￿reS and Production Flttinis Equlpment Total Total Cost As at l April 2024 Additlons 217.278 5.991 6,115 79,393 223,393 85.384 190,761 6,115 79.393 196,876 79,393 As at 31 March 2025 223,269 85,508 308,777 190,761 85.508 276,269 Depreclatlon As at l April 2024 Char8e for the perlod 37,840 31,682 403 1,124 38,243 32,806 31,625 27,252 403 1.124 32,028 28,376 As at 31 March 202S 69,522 1.527 71.049 58,877 1.527 60,404 Net book Value As at 31 March 2025 153,747 83,981 237,728 131,884 83,981 215,865 A5 at 31 March 2024 179.438 5,712 185,150 159,136 5.712 164,848 291 Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 17. Flxed asset investments Subsldlary undertakiny Charity Cost As at l April 2024 Additions As at 31 March 202S Carrylng amount As at 31 March 202S As at 31 March 2024 Other investments are measured at cost less Impairment on the basis that they represent shares in entities that are not publlcly traded and the falr value cannot otherwise be measured rellablv. Included within other investment5 are two subsidiaries: Shakespeare North Playhouse Tradin8 Ltd ISNPTI company number 14116829 is a wholly owned tradin8 company of the charity. It5 trading activity includes food and beverage IF&61. retail as well as events and hires. The profit generated in the year of £4,29212024'. £32,862) was gift aided to the Trust. Shakespeare North Playhouse Productlon Ltd ISNPPI company number 141739171s a wholly owned company of the charity. It's trading activity is to undertake the production, running and closure of In-house theatrical productions and qualifying exhibitions on behalf of the charity. It subcontracts the production work back to the charity and is eligible to claim Theatre Tax Relief and Museums and Galleries Exhibitions Relief. Where the trading subsidlary. Shakespeare North Playhouse Production Ltd, incurs qualifyin8105ses in respect of theatre productions. the company has decided that these will be surrendered for a cash payment from HMRC under the Theatre Tax Credit regime. Where receipt of these tax credlts 15 Virtually certain they are included in the accounts In the year in which the qualifying105ses were Incurred. 18. Stock Group 1025 Charity 2025 Group 2024 Charlty 2024 Bar stock Retail stock 5,492 9.179 8.736 5,311 14,671 14,047

SHAKESPEARE NORTH TRUST Notes to the Financial Staternents Year ended 31 March 2025 19. Debtors Group 2025 Charity 2025 Group 2024 Charity Z024 Trade debtors Prepayments and accrued income Amounts owed by subsidiary undertaking Other debtors 101,515 63.219 90,696 2S,502 102,383 43,944 80.671 449.498 70,544 118,463 200,577 194,966 18.783 359.700 262,525 548.952 389.584 20. Cred5tors: Amounts falllng due wlthln one year Group 2025 Charlty 202S Group 2024 Charity 2024 Trade creditors Other tax and soclal securlty Accruals and deferred income Amounts owed to subsidiary undertakin8 Other creditors 615,828 441,671 367,839 595,698 314,153 306,115 32,392 130,174 374,470 348,685 471,563 319,055 291,032 376,437 13,396 121,453 134,820 122,374 1,560,158 1,378,532 1,317,092 1,121,373 21. Deferred In¢ome Group 2025 Charitv 2025 Group 2024 Charlty 2024 At l April 2024 Additions during the year Amounts released to income 16.436 198,411 116,4361 16,436 193,534 116,4361 31.881 16.436 131,8811 31,881 16,436 131,8811 At 31 March 2025 198,411 193,534 16,436 16.436 Deferred income relates to advance ticketing income. 22. Fund reconclllatlon Unrestrlrted funds •lan¢e at 31 March 2024 Bal•nee at 31 March 2025 Incorne Expenditure Group 1272.8961 2.699,633 {3,184.5211 1757.7841 Charity 1272,892) 2.021,121 {2,506,0111 1757.782) 311 Page

SHAKESPEARE NORTH TRUST Notes to the Flnanclal Statements Year ended 31 March 2025 22. Fund reconciliation Icontinued) Vnrestrlcted lunds Icontlnued Comparative information in respect of the preceding period is as follows.. Balante at l Ortober 2023 Balance at 31 March 2024 Income Expendlture Group 163,205 2,399.091 12.835,1921 {272.896} Charltv 163,210 2.089,385 12,525.4871 1272.8921 Restrlcted funds The Income funds of the charitable company Include restricted funds comprislng the following unexpended balances of donatlons and grants held on trust for specific purposes: Balance at 31 Mar¢h 2024 Balance at 31 March 2025 Group Income Expenditure Transfers Arts Council England Borough of Culture IKMBCI One Knowsley Warrlngton MBC Ralse Your Voice Community Foundation NHLF Mer5eyside Youth Amya Ltd 400.000 25,000 373 39,500 1400,0001 125,0001 14.1701 139,5001 16.1421 1127,2721 11,3501 3,797 6,142 127,272 1.350 9,939 593,495 1603,4341 Restrlrted funds Balance at 31 March 2024 Balance at 31 March 2025 CharStv Income Expendlture Transfers Arts Council England Borough of Culture IKMBCI One Knowslev Warrin8ton MBC Raise Your Voice Community Foundation NHLF Merseyside Youth Amya Ltd 400,000 25,Ot)O 373 39,500 1400.IMII 125,0001 14,1701 139.5001 16,1421 {127.2721 {1,3501 3.797 6,142 127,272 1,350 9.939 593,495 1603.4341

SHAKESPEARE NORTH TRUST Notes to the Flnanclal Statements Year ended 31 March 2025 22. Fund reconflllatlon IcontinuÈd} Comparative information in respect of the preceding period is as follows,. Balance at 31 March 2023 Balance at 31 March 2024 Group Income Expendlture Transfers Arts Council England Liverpool City Region Combined Authority Duchy of Lancaster John Moores Foundation 8orough of Culture IKMBCI One Know51ey Knowsley Chambers Ralse Your Volce Community Foundation NHLF DWP 13,370 413,948 950 9,118 17,000 8,842 500 12,705 86,579 5,813 113,3701 1413,9481 19501 19.1181 117,0001 {S,0451 15001 16,563) 1123.4791 15,8131 3.797 6,142 36,900 36,900 568,825 1595,7861 9,939 Restrlcted funds Balance at 31 March 2023 Balance at 31 March 2024 Charity Income ExpendSture Transfers Arts Council England Liverpool City Region Combined Authoritv Duchy of Lancaster John Moores Foundation Borough of Culture IKMBCI One Knowsley Knowsley Chambers Raise Yourvoice Community Foundation NHLF DWP 13,370 413,948 950 9,118 17,000 8,842 500 12,705 86,579 5,813 113,3701 {413.9481 19501 19,1181 117,0001 15,0451 Isooi 16,5631 1123.4791 15,8131 3.797 6,142 36.900 36.900 568,825 1595.786) 9,939 Arts Coun¢ll England The 8rant 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 applicatlon. The opening programme started on 15 July 2022. Liverpool City Region Comblned Auihority (LCRCA) The grant funding is paid via Knowsley Metropolitan 8orough Council IKMBCI 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 KM6C in order to draw down 8rant funding. 331 Page

SHAKESPEARE NORTH TRUST Notes to the Flnancial Statements Year ended 31 March 2025 22. Fund refonflllation IContlnued} 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 ro nurture new talent, The condltions of the grants have been met. The asset 15 held for general use and not for a restricted purpose. 8orou8h of Culture (KMBCI In 2022 Liverpool City Reglon awarded Knowsley 'The Borough of Culture,. Fundin8 of £83,7k was awarded vla KMBC for the openin8 programme celebrating culture within Knowsley. One Knowsley Grant to dellver HAF (Holiday actlvity fund). This fund provides young people wlth the opportunity to take part in activities during the School holiday5 and provides each youn8 person with a free hot meal every time thev attend. Young people take part in creative activities ranging from DJ workshops, to creative writing and artist led workshops. Knowsley Chambers This grant was part of the Chambers Working Well Scheme. Successful organisations are given the opportunity to consult with staff around areas in which they feel funding would improve the workplace through either physlcal or mental wellbein8. The team at Shakespeare North Trust voted for trainin8 for mental health first alders. This training took place and there are now mental health flrst aiders trained for all staff and volunteers to speak to if they wish. ftalse Your Volte Communlty Foundation Thls grant was 8lven by Mersey51de Vlolence Reductlon and wa5 almed ot young people ased 11 to 18 who Ilve in Prescot. The participants will work on a project to reinvigorate the piazza space outside by the building, learnin8 new ski115 and developing confidence by working with artists, desi8ners and architects. Raise your voice was designed to be an early intervention framework seekin8 to provide developmental and diversionary actlvities for young people. John Moores Foundation The grant was awarded to SUPPOrt local residents who may be lonely or suffering from social isolation. The grant wa5 awarded to support staff time. resources. refreshments and activity resource c05ts for those attending our Chatty Café sessions. and for those attending sessions for Ukrainlan refugees. NHLF This grant has been paid vla KM8C and wa5 awarded to support the creation of heritage tours, digital engagement and filming for exhibition space. DWP An Access to Work grant funded practical support costs for a cast member of the production 'A Midsummer Night's Dream,, The cast member was AFAF as well as BSL interpretation. The award was provided to train the cast and stage management team Merseyslde Youth AMYA Ltd The fund given was for a facilitator lead on delivering Sessions to young people across the period frorn December 2024 to March 2025. Warrington MBC The grant was awarded to support a production in year, engaging with the residents in Warrin8ton area with tickets and workshops.

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 23. Analysis of net assets between funds Funds balances are represented bv- Year Ended 31 March 2025 Unrestrlcted Funds Restrirted Funds Group Tangible assets Intan8lble assets Cash at bank and In hand Other net current assetsllllabilitiesl 237,729 26,257 164,018 11,185,787) 237,729 26,257 164,018 11.185,7871 Total {7S7,7841 1757,7841 Year Ended 31 March 2025 Unrestricted Funds Restrlrted Funds Charity Tangible assets Intangible assets Investment Cash at bank and in hand Other net current a5sets/lliabilitiesl 215.86S 26,257 215.865 26,257 116,101 11,116,007> 116,101 11,116,007) Total 1757,7821 1757.7821 Comparative information In respect of the precedin8 period is as follows: Year Ended 31 March 2024 Unrestricted Funds Restrlrted Funds Group Tangible assets Intangible assets Cash at bank and in hand Other net current assetsllliabilitlesl 185,150 39,384 256.663 1754,093) 185,150 39,384 266,602 {754,0931 9.939 Total 1272,896) 9,939 (262,9571 Year Ended JI March 2024 Unrestricted Funds Restrlrted Funds Charity Tanglble assets Intangible assets Investments Cash at bank and in hand Other net Cuf rent assetsllliabilitiesl 164.848 39,384 164.848 39,384 254,663 1731.7891 9.939 264,602 (731,7891 Total {272,8921 9,939 1262.9531 351 Page

SHAKESPEARE NORTH TRUST Notes to the Financial Statements Year ended 31 March 2025 24. Reconciliation of net incomellexpendlture) to net cash outftow from operatln8 actlvitles Yearto 31 March 2025 Year Ended 31 March 2024 Net lexpenditure) lincome for the year Depreciation Ilncreasell decrease in stock Decreasellincreasel in debtors Increase in creditors 1494,8271 45,933 1623) 189,251 243,066 1463,0621 44,516 7,306 1222,7961 773,640 Net cash loutflowllinflow from operatin8 activities 117,2001 139,604 25. Related pafty transartlons The charity received donations-in-kind from Knowsley Metropolitan Borough Council in the year for the occupation of the Prescot premises and for the provision of resources of £47,70012024: £47,700). The charity recelved fundin8 toward5 Its operatin8 activities of £700,000 from Knowsley Metropolitan 8orou8h Council during the year {2024'. £600,000}. Interest-free loans totalling E125.000 were due to Knowsley Metropolitan Borou8h Council at the year end 12024.. £Nill. Details of the subsidiary companies are 8iven in note 17. At the year end, the charity was owed £102,383 by Its subsidlary company, Shakespeare North Playhouse Production Ltd12024- £200,577). At the year end, the charity owed its subsidiary company, Shakespeare North Playhouse Trading Ltd, £32.392 12024: £13.3961. The charity paid a mana8ement fee of £221,809 to Shakespeare North Playhouse Production Ltd durlng the year 12024.. £397,208). The charity received a distribution under 81ft aid of £90,729 from Shakespeare North Playhouse Production Ltd durln8 the year12024: £267,966). The charity received a distribution under gift aid of £4,292 from Shakespeare North Playhouse Trading Ltd during the year12024: £32,862}. 26. AP8 ethlcal standards In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, assist with the preparation of the financial statements and to provide tax advice. 361 Page

SHAKESPEARE NORTH TRUST Statement of Financial Activities (includln8 Income and Expendlture Account) For the year ended 31 March 2025 Total Year ended 31 March 2025 Total Year ended 31 March 2024 Unrestricted Funds Restrirted Funds Income from: Donations and legacies Charitable actlvlties Other trading activities 351.300 1.6S9,128 10,693 593.495 944.795 1,6S9,128 10,693 1.067,610 1,590,600 Total Income 2,021,121 593.495 2.614.616 21È58"310 Expendliure on:. Raislng funds Charitable activlties 1,062 2.504,949 12,227 3,109,046 603.434 Total empendlture 2,506,011 603,434 3,109,445 3,121,273 Net Income {484,8901 fi 1494,8291 {463,063) Reconclllatlon of funds,, Total funds brought forward {272,4921 9.939 1262.9531 200,110 Total funds carrled forward .57,7821 1757.7821 1262,9531 All activities relate to continulng opera Ions.

SHAKESPEARE NORTH TRUST Schedule to the Statement of Financial Artlvltles For the year ended 31 March 2025 Total Year ended 31 March 2025 Total Year ended 31 March 2024 Unrestrirted Funds Restilrted Funds Incomln8 resources Donations and gifts Donations in kind Grants 306.600 44.700 26,723 333,323 44,700 566,772 360,046 &i4.700 1,133,544 566.772 351,300 593,495 944,795 In¢omin8 resources from ¢harltable artl¥ltles Income from charitable activities Contribution from local government 959.128 700,000 990,600 600,000 1.659,128 1.659.128 1,590.600 Income from other tradln8 artlvltles Other trading activities 10,69 10,693

SHAKESPEARE NORTH TRUST Balance Sheet At 31 March 2025 Year Ended 31 fvlarch 2025 Year Ended 31 March 2024 Fixed assets Intangible assets Tangible assets Investments 26,2S7 215,865 39,384 164,848 242,124 Current assets Debtors Cash at bank and in hand 262.525 116.101 389,584 264,602 Total current assets 378,626 Llabllltles Creditor5'. amounts falllng due within one year 11,378,532) {1,121,373) Net cuffent assetsl(Ilabllltlesl 061 1467,1871 Total net •ssets 1757.7821 1262,9531 The funds of the Charlty Unrestricted funds Restrlcted funds 1757.7821 1272,8921 9,939 1757,7821 1262,9531