THE BRITISH SHAKESPEARE ASSOCIATION (LIMITED BY GUARANTEE) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 REGISTERED CHARITY NUMBER: 1123867 COMPANY REGISTRATION NUMBER: 06446230 Henderson Black & Co C"H.4RfF_RF.D AC'('OI'NI.4NTS
THE BRITISH SHAKESPEARE ASSOCIATION (Limiled by Guarantee) REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2023 Reglstered Charlty Numb•r- 1123867 Contents Page Trust8es' Annual R•port Indendent Examinofs Atr[ to the Truste8S Slalemenl ol Financial Adivtlies Ilncluding ItKome and ExperKliture Acojunii Balarog Shogt Stat8mgnl ol Gash Flo No18s lorrning part of Ihe FlnatKlal Statements 10.12
THE BRfTIsH SHAKESPEARE ASSOCIATION (Limited by Guarantee) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Injstees are pleased to present their rewrt together th the tinancial staternenls ol the charity lor the year ended 31 December 2023 whh also pr8pared to mget Ihe requirernenls of a directors, report and accovnts for Companies Act purposes. The financial slalements eomply wth tho Companies Act 2006, Ihe Memorandum and Articles ol Association. and Accounting and ReportirrfJ by Charities." Siaiemtrnt of RecornrnerKled Practice applicable 10 charilies propariro their accounts in accordance with the Finanaal Rep)rtin9 Standard arpl¢able in th8 UK and R&public ol Iraland &ff8¢tive l January 2019 IFRS 1021. Our Purposes and actlvltles The charity'5 objects are lo educat8. promole, and foslor a bettor uThderslanding ol Shakespeare and his wotk in a manner consistent Vh an ¢daDonal d)arity h'rnited by guarant80. The trustees have Pa due r8gard to guklarKe issusd by th& Charty Commtssion in deciding what actiVitS the charity Shou undertake. Achl•v•m•nts and rIorman The charily receNed £8.39012022 - £4,830) in Membefship Fèes and Joumal Subscriptions. Th8 charity so received other irKome of £60312022- £5381, I&udIng Giti Atyj. The Board, the Education, Eveni$, Perlormance & Med42 cornmittee5 and the Edilorial Board ol the Association's academl0rnal Shakosp8are¢onD"nugd to mg91 regularly through the year. rnainly via Zoorn. which has ¢ontinued 10 prove more conv•niont. as well as 6v)nomicaty and envifonmentally more viable than in-person meeilngs. In additKJn to tho Association's publ19 (th& Shakespeare joumal and TeaChg Shakespeare rnaoa2in¥l, a number ol successful online events were organised. whKh attraciad both 8SA members and non-rnemb6rs. The BSA hos18d online ILwndtables on 'filus Andronicus and Social Jusiic8' and on 'Shakespeare's First Folio.. boih ol which l&aiur8d a range of inlernalional particyants. and an event on 'Faniasy ShakeBpeaTe & Women.. A conversati,. whth lealure(l an intefyi&w ¥th btr8t.8e1l1 author Chloe Gong. The Association held ils confenCe at thg UnNersty ol Lerpool in Juty Ilhts lirst in-person conference since the CoviO-19 pandernrl, whh attracted 150 international delegates, iluding many iJcioral $lthYents arKI early career holarS. as well as some schcx)rteachers and creative practiiioners. Thè conlarénca was primarily an in-person w8nt, though several ol Ihe seminars were hosted online lo facililale remote participation and th& earY s8ssions were live-streamed. Tl conlerence received support from Liverpool John Moores Universrty in addition to sUprt from the Unwersity ol LNewl. The event was a greal success, with a rich programmtr of k)aper3. se$$8. ar events, irKludiThJ a Inp to thg Shak&sp&are North Playhouse. The Asscdation hosted its AGM online in November. wh8r8 th8 winnerg ol BSA awards were announced. The Honorary Fellowship %inner was Farah Karim-cooper. Piofessor ol Shakespeare Siudies ai King's College London and Head ol Higher Education & Rèsoar¢h at shakeSare's Globe London. Throughout her career, Professor Karirn-cooper has pursued an aclive commitrnènt io making her fields of stucjy rrore equltablè and inclusive, through her exernplary pioneering woth. activism. and lèadèrship in anti-racist Shakespeare research and tea¢hing. The InrH)vation Award wnner was Robert Myles, who assembled a diverse cornmunity ol creatrves 10 perform all ol Shakèspeare's plays during the earfy stages of the Covid- 19 pandernic. The landrnark online performanc8 kwojeci, 'Thè Show Musi Go Online., helped lo set Ihg agènda lor online digital Shakespeare_ The Board agree(I that the wesentation ol th8 awards would tak& pkce al the BSA'S 2024 conf81e IDe Monlfort UnNersrty, Leicestefl.
THE BRITISH SHAKESPEARE ASSOCIATION {Llmited by Guarantee) TRUSTEES, ANNUAL REPORT FOR ThIE YEAR ENDED 31 DECEMBER 2023 Publlc benellt The Iruslees confirrn that they hav8 referred to the gu#Jae eontaineil in tho Charity Commission's general guidance on public bènèlit when reviewu)g thtr charitys airns and objects and in planning futur8 activit8 and setting policy lor the period. Flnan¢lo1 r•v The Irusleès are ol the opmion thai the resewves Telned are sufficient lo rneot the needs ol maintainirrtJ th objectives of th8 charity goir¥J loard. R6sorvo8 pollcy And golng con¢em 11 is the policy ol the charily that unrestricted luThJs which hav& not been desHJnated lor a 5pecrfic use should be rnainlained al a level equivalenl lo befften thre& arKI six nnth'S expenditure. The Truste88 ¢onsKler that resee5 at this level will ensure that, in the eveni ol a $ignilicani ¢Jrop in lunding, they will b8 at 10 continue Ihe charity's curreni a¢iivities while conshyeratson is gNen to ways in which adlitional funds may b8 raisod. This levgl ol rgserves has t4en maintajneo throughout Ihe year. The unrestricted lund$ carried forward amounted to Els.8 12022 £4,461) and are held lo meei the projacled working capital reQuirnents ol thè Charity. The truslees are salisli8d that the reservas arg sufficient lo m8et th8 luturg no•ds of charty and loi il lo continue as a going ¢on¢em. Plans lor lutur• yrlod$ The British Shakespearè A$)uation ¢ontlnue$ to dw8kJp links with and serve Ihree sets ol stakeholders.. a¢ad8mis, teachers. and praclltbnors, as well as merrt)er$ ol th& public. Trusl•o8' r•apon$lblllll•$ In r•l•llon to the Iln#ncI stalenntS The Iruslees are responsibl8 lor wgparin9 the Tfusi&es' Aeporf aTrJ the financial siatèmènts in accordance wrth applicawe law and Uniled King)M Accounlir4J Standards IUnil•J Kingdom Gen¥ralfy Accepted ¢ouniirrtJ Praai¢el. Company law requires Ihe Trustees to wepare fInatal siat8mènts for ga¢h linan¢Kg1 year wh¢h give a true and lair vlew ol the state Of affairs ol the charitable company, including the incomo and oxpenditur¥ ol the eharilabl8 company. lor thal pericl. In weparing th¢ linanciaj staiernenls the Irustees are rwuired to.. select suitable accountiThJ pSklg$ then arply them consistenty observe the methods and pfincpl89 in th8 Chariii9$ SORP". rnake judgernenls and eslimales that ar8 reasonablè and wdont.. slate whether applicable accounling slandards have been lollow. sut4'8Ct to any mat8rial departur98 disdosed and explained in the financial siatements: and prepare Ihe financial siaiements on thg goin9 teM t1$ unless it is inappropriate to presurne that the chanty vnll continue in operation. The Iruslees are respon&bKg lor mainiaining prorr accountiThJ records which thsclose with reasonable a¢¢ura¢y at any lime the finarKial posrtion of the charity and enaeS them to fynsure that the financial statements corn with Ihè Compan$ Act 2006 and the Chariti'es Act 2011. The trustees are also respOnsle lor safeguarding thè assets ol the <a)arity and hence for taking reaSonae steps loi the prevention and deleclion of IraL#I and oth8r irregularitie$. The trustees arè respons1l for the rnaintenance arKI integrity of the corporate and financial inlomation imluded on the charrtable cornpany's website. Logislation in thè United Kingthjm goveming the pParatIOn and dissemination of financial statements rnay differ from legislation in other Iurisithctions.
THE BRITISH SHAKESPEARE ASSOCIATION (Llmlted by Guarantee) TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEAIBER 2023 Referenee and Admlnlstr8tlv• Inlormallon egistered Chariiy number". 1123867 Company number- 06446230 Raaislere<l Ofte.. The ShakesFear8 Contre. Hgnlèy Strggt, Slralford-Upon-Avon. ErnJland, CV37 60W Our odvlsers Indepen¢Jeni Examiner Jonalhan L Adamson CA Henderson Black & Co Chart&red A¢cwnlanl$ St ATrJr8ws, Filg. KY16 9PF Bankers Thè CowratNe Bank Dlr•¢lors •nd Tru$te¥$ The directors ol tre chariiatA8 ctynpany Ilhe charityl are its truslees Igr the purp)s& ol chafity law and throughout this rep)rt are ¢olle¢iively relerred to as the trustees. The trusleas and Offr$ $8rvin9 during the period and sinco the p8ric¥J ond wwo as Idlow$.' Mrs S J 89s1 Mr P C Bowen Dr T Buckley Professor D J Cartmell DrJAPDi&2 Dr P M Edrnonson Professor A Findlay Dr 8 D Grèatl&y-Hirs¢h MrCEJGreen Or C Heijes Dr K J E Hipkiss Prolgssor L Hopkins Dr O E Livingston Jones Dr K M¢Givem Dr O T Rutter Dr M Shmygol Dr A M Smith Dr S C Smith DrADThom Dr M F Thomas CJ Tumer-PAcMullan (resigned 1 January 20241 laFfointed 19 January 20231 lar¢ointed 14 September 20731 lappThnted 14 Septemb8r 20¥JI 1gw)w)ted 14 Septernber 20rJi
THE BRITISH SHAKESPEARE ASSOCIATION (Llrnited by Guarantee) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEAIBER 2023 Stru¢ture, Gov¢m•n¢• •nd M•n•g•m¢nt Governlng document The charity Is a company limid by guaranteè on 5 December 2007. In the •v8nt ol the charity bein9 WOtJnd up. Company mwbers are 8a¢h wuired ¢ontribule £1. Appolntment of Irustees The Board ol Directors antj Trustees comprises AFpointed Directors. Elected Trustees and Ex Offlclo Mèmb8rs. Appoinied Directors are ak)pointed by Ihe Board on Ihe basis oftheir expertise io lullil th8 following roles.. Chair. Treasurer, Membersh'p Secretary aThJ Company S8creiary. Their apwintsnent5 are rnade by the board and artr permanent. The Eleclecl Trustees are esecled by a vol& ol The British Shakèsp8ar8 Association Membership lor a term 013 y&ats but rnay not stand for rnore Ihan 2 consecutive lerrns. The Ex Officio Trustg$s represent the Shakespeartr Insb"lutè. the Journal of the British Shakespeare Association and the Shakespeare &'rthplac8 Trust. Nong ol Ihg truslees hek4 a t4n&1141 interèst in the company during the period. Truste• Inductlon and trnlnlng The charily has procedures lor the induction aThJ trainiNJ ol INSI5 Trthh Include a briefing rneeb with the Chairman and provisK)n ol cwes off the M8morandum & ArtleS ol Association. The Irusleos as$g5s the nggd lo prov9 irainin9 new trustees on an IndivVal basi5. Twstees are sent inlormaiion on an on- gn9 basis ol any chang8s lo charity r8gulations lo gnsurg they are awar8 ol irrpa¢t that this may have on their rtrsponsibilities Organlsatlon As a relatively small organisalMJn ernploying rKJ pemianent stalf, th& trustees are reswrt8iblo lor th governance and running ol the charity. Th8 charity is administ8red by a board ol tru$lees. A Chairman, Tr•asur8r and M•mtrship Secrètary have apm)inted aTrY they have the authority to cornrnission goods and Services in Ihe name ol the British Shak&spearg AsscKiaiion io lumil its charitabltr oblects a1 ensure ils sound govemance, s'eCt to agreed board procedu¥&s. The Association has several 8ub- ¢ommitte&s and Ihg bowd has the aulhorFty 10 delegate lirniled budgets to these. The Association has agreed financial procedures aThJ thg Treasurer is reswjnsible for ¢omplian¢ts with these in the firsl instance. The toard lakes fvll responsknlty and acCLntatlitY lor Ihg operatKJn ol ihg90 procgdures. Related porty and COwop•ratlon wlth other org•n[lI0rt8 None ol our trustees receive remuneration or Otr bènèlit from thelr woltt with Chatity. The trustees have a lorrnally approved Cmflicl ol Inleresl Policy lor The British Shakespeare AssocialKJn. Thgrg are no organitrOn5 to whth Th& BINish Shakespearè Asgc¢iatK)n is relaled, nor organisalions wrth whh it has formal or informal rL-operalions. The shakeSare Inslrtute. the Joumal ol the Brilish Shakespeare Asso¢iaiion and the Shakespeare BIrthaCe Trust have Ex Officio TnJstees on the board with transactv)n$ carrS8d at arm's lengih. Tax gl#tu$ The company has chantatr49 sta$ arKI is exemw Irom ¢orpyaDon tu on irorne arising from its actwthes.
THE BRrrisH SHAKESPEARE ASSOCIATION (Limlted by Guarantee) TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEAIBER 2023 Rlsk Management The trustees have assessed the Mal' risks lo which the charty is exposed. in particular those felaling 10 the opèration$ and finan¢es Oftt charity. aTrJ ar& sati$fied th* sysi8ms a in pjace to mitigate the charrty'$ exposure to the major risks. Small company ex•mpllo Thè Irusloes have $pared this rert in aCcOrdae with Ihg sF4¢ial wovisions relating to small cofflpank8S within Part 15 01 the Companies Act 2C%)6. Byor erof Ih board of trustees DrCH Trust 16Sep mb8r 2024
INDEPENDE EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH SHAKESPEARE ASSOCIATION FOR THE YEAR ENDED 31 DECEMBER 2023 I report on the account$ ol th& charrty lor thg year to 31 De¢erthr 2023 which ar8 set out on pages 7 to 12. A•sp•ctlvo RO$ponbIlItIo$ of Ihe Trustees and Exam11 The Irustees Iwho ara also the directors of the company for the purposes ol cornpany lawl are responsi8 lor the preparation ol th8 accounis. Th$ chanty's Irusiees consider that an audit is nol required lor this year Ljnder section 144 of the Charities Act 2011 (the Charrties Aai and that an itx1gpendeni examinati¢)n is ne8ded. It is my responsibility lo.. examine the accounts under section 145 of th& Charities A¢1 follow pro¢edufes laky down tn the general Directi9 gNen by the Charity Commission undor Seelion 14515llbl ol the Charities A¢t. and stalg wh&iher particul matters have ¢ome io my attention Thls report is made to Ihe tru8tèts8, as a t)oy. in aco)rdanc8 Wrth Ihe t8frns ol rny •ngao8mgnt. My w has be8n undertakan so that I mvJht state io the trusl&&s Ihoge ma¢ters l am required to stale to thern in an independent 8xarnin8r's report and lor no other purpose. To lh& lulle$t exlenl permitted by law, I do not accept or as8um8 18sp)nsitality lo anyone other Ihan th8 charity and thg iwslees lty my work or lor Ihl8 rewrt. B8911 ol Independent Examlnerfs Slat•m•nt My examination was carned out in accordancè wilh the general directions gfv&n by the Charity Commission. An examinalK)n includ8$ a rewew ol Ihe accounting records kept by the charity and a cornparison ol the accounts presented wrth thos8 racords. 11 also IludeS Consideration of any unusual ilerns or disclosures in the accounts. and seekn'ng explanations from the trusiegs n¢rnIng any such maiters. The proce¢Jur&s undefflaken th) noi provide all the eviderc8 Ihal woulj be T8quired in an audit and consequendy no opinion is gN•n as to whfyiher ihe accounts wesent a'true and lair view, and Ihe report 1$ limited 10 those matters Set out in Ihe staternenl below. Indopondent Examln•r's St•t•m•nt In conneclion with rny examination. no rnat8rial matters have ccYn& lo my allontion wh give m8 USe to believe Ihai in any material respect.. ac¢ouniing re¢ord5 were not Wt in actordar&8 wilh s8Ction 386 01 the Cornpanie$ Act 2LKJ6,' or the accovnts th) not awd with s(Kh rwd$.' Ihe accoun15 do not mplY with fe18vanl accountitYJ f8quiram&nts undèr sg¢1ion 396 01 Ihe Companies Acl 26 other than ary requirement that the accounls gNe a 'trua and lair, view whh is noi a mattèr cons¥re{l as part of an 1ThyendenI examination.. or Ihe accounts have noi bwn praparèd in aOr0)nCe ¥¥rth Ch115 SORP IFRS 1021, I have come across Th) oiher mallers in connection with the exarninatK•n lo whth attention should be drawn in this ieport in order to enable a woper undgrsiaTh1ing of Ihe accounts tts tx reached. Jonalhan L Adamson CA Portner Henderson Black & Co Chartered Accounlants Chéstnèy Hous• 149 Market Stmt Si Andrews Fifè. KY16 9PF 18 S•pt•mr 2024
THE BRITISH SHAKESPEARE ASSOCIATION (Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Total funds 2023 Total lunds 2022 Income: Income from chaiilable activities 50.520 5,368 Total Incom• SO,520 5.368 Expendlture: Expondilure on charitable activities 39,073 5,207 Tot818xpendlture Net Income and not fflo¥•menl In lundg for the year 11.447 161 Reeonelllatlon of fund$ Total funds brought forward 4.461 4,300 Total funds carrled lobward The nolgs on pages 10 10 12 form an integral part ot these accounts. The statement ol financial actiwli8s includgs all gains aNI k)sses in Ihe year. All in¢om¢ and fjxpendilure derive Irom continuing aclivilies. Th8 nel movement in funds equates to Ihg surplus lor the year.
THE BRITISH SHAKESPEARE ASSOCIATION {Limiled by Guarante8) BALANCE SHEET AS A T 31 DECEMBER 2023 2022 Cuiront a$J•l$ Debtors Cash al bank and in hand 1,119 554 17.268 6.941 Llablllll88 Creditors: amounts lalllng du• wlthln one y8ar Creditors and accruals 2,480 N•t current ass•ts 15,908 4,461 Ng14880ts Th• fundg of the charlty: Unrèstricted income funds 15.9)8 4,461 Total charlty funds For tha financial year ended 31 Deeembw Ihe company was entitled io exery)lion Imm audit under s•¢lion 477 Companigs A¢1 2006. No menknr ol ihe company h85 depJsited a nolKe. pursuant lo section 476. requiring an audit ol ih&se financbal statement5 Lbnder the faouirernonls ol thg Gompani¥s Acl 2006. The Iruslees acknowledge their resF¥Jnsitsligs lor gnsuring that the company keeps accounting records which ¢omply with section 386 01 the Aci and for preparing linancial slalem8Dls which giv& a tnjg and lair view ol the siaie of allairs of the company as al the end ol the linancial yaar and ol its surplus or deficit lor the linancial year in accordance with Ihe roquirem8nts ol sg¢tion$ 394 395 and which otherwise comply with the requirements ol th& Companies Act 2006 relaiing to a¢¢ounts, so far as applicable lo Ihe company. The$8 financial siaiemènls have been prepared in accordanco wllh Ihg SP8cial provisions relating to small companies within Part 15 01 Ihe Companies Act 2(K)6. The notos on pagès 10 to 12 form an intggral parl ol th8s9 accounts. Appro stees and authl$e<l lor issue on 18 September 2024. DrCH $ ITwstal Company mb8r: 06446230
THE BRITISH SHAKESPEARE ASSOCIATION {Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash provlded by operatlng actlvltlos (below) 9.762 864 Change in cash and cash equivalents in year 9.762 Cagh and ca$h equlva10nts •1 the beglnnlng of Ihe year 6.387 S,523 Total ush and c•gh equlvalents at th8 end ol thg year 16.149 6.387 An8lysls ol chang8¥ In ngt debt Cash al 1 January 6.387 5,523 Cash Ik)ws in Ihe year 9.762 864 Cash ai 31 December 16,149 6.387 Reconclllellon ot net mov8m8nt In funds to net cash Ilow from oporatlng octlvltlgs Ng1 movement In funds 11,447 161 Ilncreaselldecrease in dèbtors Dgcroasg in creditors {S651 11,1201 703 Nel cash provided by operating activities 864
THE BRITISH SHAKESPEARE ASSOCIATION {Llrniled by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2023 A¢¢ountlng Pollc 1.1 B•$lg of A¢¢ouDtlng The financial $iai&ments havg Wn lx9par in accordar wth Accountino and Reporting by Charities". Slalemeni ol Agcommonded Praciice aOicabl& to ¢haritie5 wepariThJ their accounts in awordance with the Financial Reporting StarKlariJ in the UK and Repu1¢ ol Ireland IFAS 1021 letteciive 1 January 20191 . Charrties SORP IFRS 1021. the Financial ReF¥)n9 Standard applicable in the UK ol Irdand IFRS 1021 and the CoMpanS Act 2008. The British ShakesFoare Association meets Ihe definrtion of a putyK benefit entity under FRS 102. Assets and Iiabilrties are inilially re¢ognis•d ai htsl0rK cost or transacts'on valu8 unl8ss olh8tWiS8 statod in the lan1 accouniing >1(SI. These accounts ar• prant8d in pounds si1rj. Ihe luncknmt cutsency ol the charty. Houndiry is to the ngar8sl e. The trustees consider that thére are no Materi UrtntIe$ atKSUt Ihg charitys lity lo o)nt4nue as a gn9 concem. 1.2 Logal $l•lu8 ol th• ¢h•dfy The charity is a company lirni18d by guarantge aTrJ has share cal. The liability of each member in th8 8venl ol a wiThJin9 up is limitad IO £1. 1.3 Fund accountlng All ol the ¢harity's lunds ar? unrlri¢1e1. Unresirtted Ivnds are th¢)sè lunds whth the Irust8es are fro8 to use lor any wrw$& In lurtherance ol Ihe ¢haritat4è obiectN8S. 1.3 Taxatlon The company has been crmlirmed io be eyempt from Ccwaliin tax. as hawng charitabl8 statu$. un any surpluses arisiThJ Irorn ils actmties as long as tls• swpluses ara hgkl lor Ihg wrpJsgs ol tho Companls ottyecls. 1.4 In¢om• Donations aTrJ grants receNe are cradit8d to ihg Staiemeni of Fin•Ki Athrtw when the charny becomes entitled to the funds, any perfcman¢g coNYilions aitached to ¢he itemlsl ol income have been mat. rt is wobabl8 that th8 tncomè will be ie¢eNed arKI the amount can be rneasured reliably. Inleresl on funds held on d8POSIt is Included when receivable and the arnounl can be rneasured reliably by the charity,. Ihis 1$ nomially u} nlI1¢ath ol Ihe inre paythe by the Bank. 1.$ Expondlture and Irrecoverable VAT Expendilure is recognised once there is a legal or eon5tructive oblHJalion to make a payTrent to a third party, it is probable Ihat settlement will required and the amounl of Ihe lgatIon can b6 m&asur8d reliably. Irr0vere VAT is charged as a cosl agnst the activity for whth tha èxpenditure was incurred. 1.6 Cash at bank and In hand Cash at bank and cash in haTrJ indtyjes cash and shon tèmi hwjhly I1 investments with a short maturity ol three months or from the ¢Jatè ol auL$ti ty ni[d of th8 dep)srt N sirnilar aoUnt. 10
THE BRITISH SHAKESPEARE ASSOCIATION (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEPABEA 2023 (CONTINUED) 1.7 Financlal Instruments Financial insirumtrnts ar6 recognisetl in th8 balance sh88t when the charity b8COrn8s party lo the contractual prowsions ol the instrument. Baglc Ilnanclal assèts Basic financial assets, which IncIle debtors and cash and bank balances, are initially rneasured al transaction price including Iransaclion cosls and are subsequenlly carried at arnortiS8d cost using tho effective inleresl method unless Ihe arrangem&nl eonslilules a linancin9 Iransaclion, where the transaction is méasure al prgsgnl value ol ihg futu receipts discounied ai markèt rate of interest. cl83$1¢910n ol Iln8ncSal118bllttl•$ Flnancial liabllitie$ are dasslligd aordIng io the sthtance ol the contractud agMentS ent8r8d into. B891¢ fln•ncl81118bllltles Basic linan¢ial liabilitie5, induding ueditors ar• dassili8d as d8bt. and aro intially I(]nise¢l al transaction price. Trad9 credllors ar& obllgallons lo pay lor gotras or sèrvices that have boen acquir8d in lh8 ordinary course ol trAJslness Irom supplièrs. Amounts payabl8 are classili8d a$ ¢uYrgnl liabili11g5 il payment is du8 within one y8ar or less. 11 not they are presgnlg(l as non<urrent liabilities. 1 A Judgoments In applylng •ceountlng poll¢1 and k•y $our¢eJ ol e*tlm8tlon In the application ol the charity's accounting polics&s. thè Iwsi89s are required 10 rnake I19ementS. eslimatos and assumptions about the carying amount ol assets and liabili)e5 that are nol readily avallab19 from other sources. The esiimates and associated assurytions are based on historical experience and other factors that awe ielevanl. Actuaj results rnay dilfer from Ihgse gsbmalgs. In preparing these financ1 stat8mgnts. tho Irusl8es have made lh& lollowing judgements.. Accruals Trustees estimate the requirements fcv accruals using post year end inlormalion. This Klentilies cost8 that are exp8Ct8d lo b9 in¢uired lor semces provide(J by Othèr partitrs. A¢crua15 are only released when Ihgrg is a ieasonable expectation that ihese cosls will not be invoud in the lulure. Trustees and slatl costs No rernuneration was pahd to Irustees in thg ygar 12022 - £nill No expens8s were feimbvrs8d lo Irustges in the yoaf12022- £313 to one tfusteel arKI no ¢Jonation5 were made by ITuslees lo the charity dudng the year12022- £nill. The charity had no employees during the year. Control Control ol the charity li8s in the hands ol Ihg trustees.
THE BRITISH SHAKESPEARE ASSOCIATION (Limlled by Guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED) Income from charhable actlvlt83 2022 Memb&r lees and journal subscriptions Conference incomg Other income 8.390 41,527 603 50,520 4,830 538 5,368 Expgndlture on charllable actlvltles Unrestrict8d Funds Conference cosls Events Fellowship Printing Website Bank charges Indèpèndent ¢xamination leo 2022 33.863 770 825 306 2,435 552 129 960 5.207 1,605 724 1,181 930 39.073 Credltors 2023 2022 Creditors Accruals 250 1,400 1,080 2,480 Commltmènts At thé rIOd ènd the iru$ie8s had not made any commitments lor expeThJiture12022- non¢l. 12