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 Inde￿ndent 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 wh￿h 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 V￿h an ¢d￿aDonal d)arity h'rnited by guarant80. The trustees have Pa￿ due r8gard to guklarKe issusd by th& Charty Commtssion in deciding what actiVit￿S 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 academ￿l0￿rnal 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 publ￿1￿￿9 (th& Shakespeare joumal and TeaCh￿g 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 confe￿nCe at thg UnNersty ol L￿erpool in Juty Ilhts lirst in-person conference since the CoviO-19 pandernrl, wh￿h attracted 150 international delegates, i￿luding many i*Jcioral $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& ￿e￿arY s8ssions were live-streamed. Tl* conlerence received support from Liverpool John Moores Universrty in addition to sUp￿rt 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 shakeS￿are'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#Ja￿e eontaineil in tho Charity Commission's general guidance on public bènèlit when reviewu)g thtr charitys airns and objects and in planning futur8 activit￿8 and setting policy lor the period. Flnan¢lo1 r•v The Irusleès are ol the opmion thai the resewves Tel￿ned are sufficient lo rneot the needs ol maintainirrtJ th objectives of th8 charity goir¥J lo￿ard. 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 n￿nth'S expenditure. The Truste88 ¢onsKler that rese￿e5 at this level will ensure that, in the eveni ol a $ignilicani ¢Jrop in lunding, they will b8 a￿t 10 continue Ihe charity's curreni a¢iivities while conshyeratson is gNen to ways in which adlitional funds may b8 raisod. This levgl ol rgserves has t4en maintajneo throughout Ihe year. The unrestricted lund$ carried forward amounted to Els.￿8 12022 £4,461) and are held lo meei the projacled working capital reQui￿rnents 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#nc￿I stalen￿ntS 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 fIna￿tal 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 peric*l. 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 ￿t￿eM t￿1$ unless it is inappropriate to presurne that the chanty vnll continue in operation. The Iruslees are respon&bKg lor mainiaining pror*r accountiThJ records which thsclose with reasonable a¢¢ura¢y at any lime the finarKial posrtion of the charity and ena￿eS them to fynsure that the financial statements corn with Ihè Compan￿$ Act 2006 and the Chariti'es Act 2011. The trustees are also respOns￿le lor safeguarding thè assets ol the 1￿(SI. These accounts ar• pr￿ant8d in pounds si￿1r￿j. Ihe luncknmt cutsency ol the charty. Houndiry is to the ngar8sl e. The trustees consider that thére are no Materi￿ U￿￿rt￿ntIe$ atKSUt Ihg charitys *lity lo o)nt4nue as a g￿n9 concem. 1.2 Logal $l•lu8 ol th• ¢h•dfy The charity is a company lirni18d by guarantge aTrJ has share c*al. The liability of each member in th8 8venl ol a wiThJin9 up is limitad IO £1. 1.3 Fund accountlng All ol the ¢harity's lunds ar? unr￿lri¢1e1. Unresirtted Ivnds are th¢)sè lunds whth the Irust8es are fro8 to use lor any wrw$& In lurtherance ol Ihe ¢haritat4è obiectN8S. 1.3 Taxatlon The company has been crmlirmed io be eyempt from Ccwaliin tax. as hawng charitabl8 statu$. u￿n any surpluses arisiThJ Irorn ils actmties as long as t￿ls• swpluses ara hgkl lor Ihg wrpJsgs ol tho Companls ottyecls. 1.4 In¢om• Donations aTrJ grants receN￿e are cradit8d to ihg Staiemeni of Fin•Ki￿ Athrtw when the charny becomes entitled to the funds, any perfc*man¢g coNYilions aitached to ¢he itemlsl ol income have been mat. rt is wobabl8 that th8 tncomè will be ie¢eNed arKI the amount can be rneasured reliably. Inleresl on funds held on d8POSIt is Included when receivable and the arnounl can be rneasured reliably by the charity,. Ihis 1$ nomially u￿￿} n￿lI1¢ath￿ ol Ihe in￿re￿ 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. Irr￿0ver*￿e VAT is charged as a cosl ag￿nst 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 I￿￿￿1 investments with a short maturity ol three months or ￿ from the ¢Jatè ol a￿uL$ti￿ ty ￿ni[￿d of th8 dep)srt N sirnilar a￿oUnt. 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 IncI￿le 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 a￿ordIng io the sthtance ol the contractud ag￿MentS 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