## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022** ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** **COMPANY REGISTRATION No: 08405111** **CHARITY REGISTRATION No: 1157282** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS 1 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** ||**CONTENTS**| |---|---| |Page 3|Legal & Administrative Information| |Pages 4 to 7|Report of the Directors'| |Page 8|Statement of Financial Activities| |Page 9|Balance Sheet| |Pages 10 to 17|Notes to the Financial Statements| |Page 18|Independent Examiner's Report| 2 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **CHARITY NUMBER** **CHARITY NUMBER** 1157282 **COMPANY REGISTRATION NUMBER** 08405111 **DATE OF INCORPORATION** 15th February 2013 **START OF FINANCIAL YEAR** 1st September 2021 **END OF FINANCIAL YEAR** 31st August 2022 **DIRECTORS AT 31ST AUGUST 2022** Susan Jane Fletcher Fiona Mallin-Robinson Susan Sandle Denise Rawls Nicholas Willoughby Stuart Toyin Okitikpi (Appointed 1st January 2022) Matthew Lloyd (Resigned 27th January 2022) ## **GOVERNING DOCUMENT** Memorandum and Articles of Association incorporated 15th February 2013 ## **OBJECTS** To advance education for the public benefit by the promotion of the Arts, in particular but not exclusively the Art of Drama. ## **REGISTERED ADDRESS** **REGISTERED ADDRESS** Unit 3M1 Camberwell Business Centre 99-103 Lombard Grove London SE5 7HN **PRIMARY BANKERS** Barclays Bank Plc Camden Town Branch 193 Camden High Street London NW1 7PJ **INDEPENDENT EXAMINERS** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS 3 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE DIRECTORS'** ## **FOR THE YEAR ENDED 31ST AUGUST 2022** The Trustees, who are Directors for the purposes of Company Law, present the statutory reporting accounts of the Primary Shakespeare Company (PSC) for the year ended 31st August 2022. The report has been prepared in accordance with Part VIII of the Charity Act 2011 and equates to a Director’s report set out under the Companies Act 2011. ## **Aims and Objectives** The aim of the charity is to work with children in primary and special schools to raise pupil achievement and attainment by engaging with Shakespeare across the curriculum. Since 2009, The Primary Shakespeare Company (PSC) has been sending theatre practitioners into primary schools, investigating and performing Shakespeare’s plays and language with teachers and their pupils. In addition, we have developed work with Special Schools, both in our main festival programme and as bespoke whole school projects. Our experience illustrates the positive impact that sustainable arts-based education has on children – on their attainment across the whole curriculum (especially in literacy), confidence and attitude to learning. PSC's principle objectives are: - To consolidate the work that the PSC has done in primary and Special schools so that the Arts Curriculum is fully embedded as a core part of the whole school curriculum. - To develop the skills of teachers through our programme of training and to build teachers’ involvement with the PSC so as to embed the Arts in primary and Special education - To develop the skills of theatre practitioners and develop their training so that they can work effectively with children. - To build financial security for the charity by combining paid-for services to schools with fund-raising from foundations, individual donations and special events - To promote the work of the charity to showcase the value of an Arts-based curriculum mediated through Shakespeare as a means of raising pupil attainment. - To assess our work continually and to develop methods of evaluating outcomes. ## **Organisational Structure** The Board of Trustees comprises 6 members. It meets at least 4 times a year with the Artistic and Programme Directors and the charity’s Administration and Development Director, who are accountable to the Board for the day-to-day running of the charity. The Trustees are responsible for: - Controlling the administration of the charity. - Agreeing the strategic aims, objectives and direction of the charity. - Ensuring the identification of risks and managing those risks. - Ensuring that the income of the charity is applied as set out in its governing documents. ## **Recruitment and Appointment of Trustees** All members of the Board of Trustees give their time voluntarily and receive no benefits from the charity. During the AGM of the charity in 2022, Matthew Lloyd, a founder member and Chair of the charity, retired after 10 years of leading the Board. Present from the very beginning, when PSC was just an idea, Matthew’s in-depth knowledge of the sector, clarity of thought, calm approach and excellent listening skills have been a vital element of the organisation’s growth and success. The Directors and Board of Trustees expressed their heartfelt thanks to Matthew for his years as a dedicated and expert Chair. Fiona Mallin-Robinson was appointed as Chair of the Board. The Board of Trustees also appointed Toyin Okitikpi to serve as a Trustee and welcomed him to the Board. 4 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **Risk Management** The Trustees have reviewed and identified the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate and manage the risks. Looking ahead to 2023, a priority will be to ensure we maintain and develop the number of schools able to participate in our programme, even when they are under significant budgetary pressure. Our detailed plans to mitigate this risk include keeping our prices under review and implementing practices (and associated fundraising) to help prevent cost being a barrier to participation. Safeguarding of children to participate in Primary Shakespeare Company (PSC)’s projects is secured through implementation of the charity’s Child Protection Policy, which is reviewed annually. All those employed by the PSC are required to have an up-to-date DBS certificate. ## **Public Benefit** The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit in reviewing the charity’s aims and objectives and in planning future activities. They consider that the PSC’s work is demonstrably for the public benefit in that its main activities all contribute to the delivery and promotion of an Arts-based curriculum for Primary and Special school pupils through engagement with Shakespeare. This year, over 2100 pupils, aged between 5-11 years old in Key Stages 1 and 2 took part in our theatre programmes, 150 pupils took part in our new dance project and 260 children were involved in our opera project. We worked across 10 inner London boroughs, with 41 participating Primary schools and 2 Special Schools, including Wyvern Special School in Kent. ## **Activities for the year** 2021/22 saw The Primary Shakespeare Company return to delivering live performances, after a period where the Covid-19 pandemic had made this impossible. PSC presented performances across theatre, opera, dance and film. Working with our directors on the play Macbeth, children engaged in a genuine collaboration to create their final pieces, shaping a programme of compelling performances with their own ideas. When performing, the children could see and feel the impact of what they had achieved, not only through their own experience but also through the reaction of their audience. In addition to their performances, participants also produced an impressive body of classroom work right across the curriculum. As schools have adapted their practices to deal with the continued presence of Covid in our lives, so have we continued to think creatively about how best to deliver our programme. One of the most positive outcomes of this has been the development of a new format of our touring productions. In pre-covid years, schools across boroughs have come together in a single space to watch this production. This year, working with Rose Bruford College’s MA student programme, PSC created three musical versions of Macbeth, which then toured to all the schools in our network individually, creating a more intimate performance experience for the children. Rose Bruford also helped us to develop an outstanding immersive version of the story, which toured to the Special Needs Schools in our network. PSC’s work with Special Schools has become a cornerstone of our delivery, creating fully inclusive participatory arts projects involving children with a range of complex disabilities. We are continuing to work with Wyvern Special School in Kent. The project has now expanded throughout the whole school including the sixth form and FE pupils. Every pupil in the school has some form of engagement with the project. We are also starting project work with Riverside Special School in Bexley, using techniques developed in our Wyvern Projects. Because of the success of the projects so far we are hoping to include mainstream primary schools in Kent in the Special schools performances. ## Other activities included: • Over 70 teachers participated in our in-person training sessions, consistently and universally rating them as either very good or outstanding: “Great training, resources and support” and “The art workshop on the training day was spectacular… the best art CPD I've ever had”. • Online resources were developed and provided free to schools, including lesson plans written exclusively by teachers from withi the PSC network with clear learning objectives and outcomes, in line with the National Curriculum. “The English Planning is brilliant!” “The children really enjoyed it” “Lesson plans are really clear and detailed”. • Our Opera project, now in its final year, was delivered in two London Boroughs and learning from the project will inform t development of a new musical theatre programme. 5 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **Evaluation** We used two different methods of evaluation to measure the impact of PSC’s work. Firstly, a straightforward survey. Secondly, observation and monitoring of the engagement of selected children. ## Looking at the teachers’ feedback survey first: - “Writing outcomes were excellent as children were so immersed and motivated. The project really captured their imagination, and they became more adventurous with their vocabulary choices.” - “More confident, more engaged with their learning - they are still singing their songs now!”. ## And, from our observations: - Child D: at the start of the programme is very quiet. Participates in whole class activities but doesn’t put his hand up or contribute. During subsequent sessions, he becomes progressively more confident. In the second session he surprises everyone - possibly even himself - by singing out loud an idea for a lyric. Afterwards he is overcome by shyness, but is still clearly very pleased with himself and, by the third session, has placed himself in the front row of the class, and is, from this point onward, keen to contribute. This year we were also able to carry out detailed evaluations of the impact of our Devised Opera Project in Harrow. This project has had a marked effect on the children who took part. As one of our teachers stated in our evaluation “An incredible project that has enabled each child in my class to find out something new about themselves and be a part of a once in a lifetime opportunity that they will remember forever!”. ## **Annie Williams Prizes** 2022 marked the eighth year of the Annie Williams Awards, funded by the John Lyon’s Charity and named in memory of the head teacher whose passion for using the Arts, particularly drama, to inspire and engage young children helped form the PSC. She was our first champion. This year, due to Covid-19 restrictions, we were unable to hold the prize-giving ceremony in person. However, we still awarded the prizes which encourage and celebrate all the work that the teachers and their classes do as part of the theatre project. The winners were as follows: - Gladstone Park Primary School, Brent: Annie Williams Prize. - St George The Martyr Primary School, Camden: AW Ensemble Prize. - St Anselm’s Primary School, Harrow: AW Attainment and Achievement Prize - Beaconsfield Primary School, Ealing. ## **Resources** The financial position of the charity remains healthy. Costs have been prudently controlled and our fundraising continues to be successful. Our work is made possible thanks to the continuing generous support of our principal funders – John Lyon’s Charity, the Wellington Foundation, the Thompson Family Trust, the St James’ Place Foundation and the Haberdashers’ Foundation. We have also received generous funding from, the Mercers’ Company and the Wingate Foundation, as well as from other foundations and private donors. These funds will enable us to sustain all of our activities - from our opera project to our festivals to our work in Special Schools – creating opportunities for over 2,100 children to engage with the arts. It is encouraging, in such challenging times, to be able to report that our fundraising efforts continue to meet the objectives set for our income generation. We are grateful to all those who support the charity’s work. At the end of the 2021-22 financial year, the charity held a total of £240,610 in unrestricted funds and £37,997 in restricted funds. ## **Reserves** In the light of the risks identified, and the changeable economic climate, the Trustees have decided to retain reserves that equate to at least 6 months of operating costs. The balance of any surplus funds is held in 1-year fixed term bonds and in the charity’s savings account to be deployed in support of the charity’s projects and a continuation of the Development and Administrative post, which has played a crucial role in the growth of the charity’s work. ## **Plans for Future Years** The Trustees annually review our performance against our Strategic Plan and, in addition, will be updating the Plan in Autumn 2023 to cover the next five years. We would expect to extend our existing level of Key Stage 2 Borough Festivals to incorporate some new schools; grow our work with Special schools; develop ideas for our film, musical theatre and dance projects; and continue to write and deliver ‘best-in-class’ teacher training and resources for schools 6 THE PRIMARY SHAKESPEARE COMPANY IAC014PANYLIMITED BYGUA￿AN￿ REPORT OF THE DIRECTORS. (contr￿1) FOR THEYEAR EIIDED31ST AUGIISY 2022 oflraud W rAhu Wu￿r￿e$. rtylme. m•Je Wrfal￿￿1e *1 1nfUrnth￿e￿ Approved by the Olrectors On tr Sv41￿ tyi beh•it DY D#eaor tsj Name.. ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2022** |**(Incorporating Income and Expenditure Account)**
**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
Investment Income
**3b**
Activities for Generating Funds
**3c**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Cost of Generating Funds**
Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/ (OUTGOING) RESOURCES**
Balance Brought Forward
Transfer Between Funds
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
68,560
192,000
260,560
245,112
797
-
797
1,223
55,250
-
55,250
42,570
**124,607**
**192,000**
**316,607**
**288,905**
98,286
189,246
287,532
272,467
1,675
-
1,675
1,900
**99,961**
**189,246**
**289,207**
**274,367**
**24,647**
**2,754**
**27,401**
**14,538**
216,152
35,055
251,207
236,669
(188)
188
-
-
**240,611**
**37,997**
**278,608**
**251,207**| |---|---| Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing. The notes on pages 10 to 17 form part of these financial statements. 8 THE PRIMARY SHAKESPEARE COMPANY IACOMPANYLIMITED BY GIJARANTEEI ASAT315T AUG￿ 2022 Totsi Jl-Aug-11 Totsl Ji.AwJ.2X Tangl￿e A55ets 1,366 Cyrr•nt Cath at Bank In 21￿511 37,W7 278, 250,516 T•t•lCumrtA#• 278. Crndltors: lallrq due 1,675 1,675 1.675 NET CURRENT ASSITS 37,SW17 27&833 248.841 cr￿*￿T*. hi rrK¥T th•n YOTALA4Ets ￿¢￿Tent￿l 140,611 37,997 278,108 251,207 NET ASSETS li Ful￿1 of th¢ ¢h•rlly r￿èrA1 Fiinrf4 240,611 37,9)7 216,152 35,055 37,937 Total FiIM• requlrem•)t to (ttain an t• IM tThnprt5 ty rnmbv5 hwe requked the coMp￿Y ro o)￿n aty audk Kwjnts geL*m Id. Htrhwer, In ￿cordinee [re￿r* IPRSIOZI. ¢heend Of¢￿ finaro* the wrln *¢cwd￿e￿knlts reQU*en￿$￿s￿￿tspts 391 ano 395 whkh (themse reqwvnents crf re￿ $0 far * 4pOlcab* io the ApproY•J by ￿ Dtr*tDr5 ￿ Ihe .................................... on thdr tyy t*ector ....... . pr￿ H4rne'. ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of Preparation & Assessment of Going Concern** ## **Basis of Preparation** The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1st January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes. ## **Assessment of Going Concern** Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. ## **Incoming Resources** ## _**Recognition of Incoming Resources**_ These are included in the Statement of Financial Activities (SOFA) when: ▪ the charity becomes entitled to the resources; ▪ the Directors are virtually certain they will receive the resources; and ▪ the monetary value can be measured with sufficient reliability ## _**Incoming Resources with Related Expenditure**_ Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. ## _**Grants and Donations**_ Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. ## _**Tax Reclaims on Donations and Gifts**_ Incoming resources from tax reclaims are included in the SOFA in the same financial period as the gift to which they relate. ## _**Contractual Income and Performance Related Grants**_ This is only included in the SOFA once the related goods or services has been delivered. ## _**Gifts in Kind**_ Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. ## _**Donated Services and Facilities**_ These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received. ## _**Volunteer Help**_ The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report. ## _**Investment Income**_ This is included in the accounts when receivable. ## _**Investment Gains and Losses**_ This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 10 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **1. ACCOUNTING POLICIES (Continued)** ## **Expenditure and Liabilities** ## _**Liability Recognition**_ Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## _**Governance Costs**_ Include costs of the preparation and examination of statutory accounts, the costs of the Directors' meetings and cost of any legal advice to Directors on governance or constitutional matters. ## _**Changes in Accounting Policies and Previous Accounts**_ There has been no change to the accounting policies (variation rules and methods of accounting) since last year, and no changes to the previous accounts. ## _**Grants Payable without Performance Conditions**_ These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity. ## _**Unrestricted funds**_ These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities. ## _**Restricted funds**_ These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes. ## _**Taxation**_ The charity is exempt from tax on its charitable activities. ## _**Legal Status of the Charity**_ The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## _**Fixed Assets**_ These are capitalised if they can be used for more than one year, and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. ## _**Investments**_ Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value. ## _**Depreciation Expense**_ Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied per annum are as follows: |**_on Expense_**
n is calculated at a rate to write off the
as follows:|cost of tangible fixed assets over their estimated| |---|---| |Equipment Cost|25% - Reducing Balance Basis| |Fixtures and Fittings|25% - Reducing Balance Basis| ## **2. TANGIBLE FIXED ASSETS** |Cost
01-Sep-21
Additions
Cost at
31-Aug-22
Depreciation
01-Sep-21
Charge
Depreciation at
31-Aug-22
Net Book Value
31-Aug-22
Net Book Value
31-Aug-21|Equipment
Fixtures &
**Total**
Cost
Fittings
**2021/22**
£
£
£
3,312
2,366
5,678
-
-
-
3,312
2,366
5,678
1,932
1,380
3,312
345
247
592
2,277
1,627
3,904
**1,035**
**740**
**1,775**
**1,380**
**986**
**2,366**| |---|---| The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st August 2022 : None 31st August 2021 : None 11 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **3. INCOMING RESOURCES** |**a) Donations, Grants & Legacies**
Gifts & Donations
Grants Received
**b) Investment Income**
Interest
**c) Activities for Generating Funds**
Fees Received
Fundraising Income|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
5,680
-
5,680
9,212
62,880
192,000
254,880
235,900
**68,560**
**192,000**
**260,560**
**245,112**
797
-
797
1,223
**797**
**-**
**797**
**1,223**
55,250
-
55,250
42,160
-
-
-
410
**55,250**
**-**
**55,250**
**42,570**| |---|---| 12 ## **THE PRIMARY SHAKESPEARE COMPANY** **(A COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **4. RESOURCES EXPENDED** |**a) Charitable Activities**
Administrative Expenses
Advertising & Publicity
Artistic & Programme Directors Fees
Bank Charges
Curriculum Costs
Depreciation Expenses
Equipment Costs
Fundraising Expenses
Graduate Programme
Insurance Costs
Ks2 Opera Project
Office Costs
Prizes & Awards
Projects Costs
Rent & Rates
Special Needs Project
Staff Costs
Sundry Expenses
Touring Costs
Training Costs
Website Costs
**b) Governance Costs**
Independent Examiners Fee
Legal & Professional Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2021/22**
**2020/21**
£
£
£
£
1,556
-
1,556
443
-
-
-
5,984
59,799
59,799
62,506
121
-
121
111
-
-
-
5,100
592
-
592
789
1,304
1,304
3,583
784
-
784
-
6,014
-
6,014
910
1,510
1,510
-
31,973
31,973
26,011
1,191
126
1,317
1,917
1,346
-
1,346
1,009
77,112
25,057
102,169
86,029
12,181
12,181
11,000
18,631
18,631
11,984
34,221
34,221
36,451
1,523
-
1,523
2,125
4,279
4,444
8,723
16,500
1,475
-
1,475
15
2,293
-
2,293
-
**98,286**
**189,246**
**287,532**
**272,467**
1,675
-
1,675
1,675
-
-
-
225
**1,675**
**-**
**1,675**
**1,900**| |---|---| 13 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **5. RESTRICTED FUNDS** ## **CURRENT FINANCIAL YEAR** ||**Balance**||||**Balance**| |---|---|---|---|---|---| ||**01-Sep-21**|Income|Expenditure|Transfers|**31-Aug-22**| ||£|£|£|£|£| |The Wingate Foundation|-|5,000|4,987|-|13| |Wellington Management Fund|3,817|-|-|-|3,817| |JLC Main Grant Fund|-|60,000|60,088|88|-| |St James Place|9|-|-|-|9| |Haberdashers Company Fund|-|2,000|2,080|80|-| |Wellington Management Exceptional Grant|-|40,000|40,020|20|-| |City Bridge Academy|1,144|-|-|-|1,144| |JLC Exceptional Grant Fund|10,096|50,000|50,098|-|9,998| |The Mercers Company Trustee to The Charity of Sir|19,989|35,000|31,973|-|23,016| |Richard Whittington|||||| ||**35,055**|**192,000**|**189,246**|**188**|**37,997**| ## **PREVIOUS FINANCIAL YEAR** |The Wingate Foundation
Wellington Management Fund
JLC Main Grant Fund
St James Place
Haberdashers Company Fund
Wellington Management Exceptional Grant
City Bridge Academy
JLC Exceptional Grant Fund
The Mercers Company Trustee to The Charity of Sir
Richard Whittington|**Balance**
**Balance**
**01-Sep-20**
Income
Expenditure
Transfers
**31-Aug-21**
£
£
£
£
£
-
-
-
-
-
3,692
40,000
39,875
-
3,817
25
60,000
60,965
940
-
1,100
3,900
4,991
-
9
36
2,000
2,080
44
-
-
-
-
-
-
4,727
-
3,583
-
1,144
5,260
50,000
45,164
-
10,096
50,000
-
30,011
-
19,989| |---|---| ||**64,840**
**155,900**
**186,669**
**984**
**35,055**| The Restricted Funds held are wholly represented by the Charity's Cash Reserves and are to be expended as specified above. 14 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **6. CASH AT BANK AND IN HAND** ||Unrestricted|Restricted|**Total**|**Total**| |---|---|---|---|---| ||Fund|Fund|**31-Aug-22**|**31-Aug-21**| ||£|£|**£**|**£**| |Cash at Bank and in Hand|240,511|37,997
278,508
250,516||| ||**240,511**|**37,997**
**278,508**
**250,516**||| |**7. DEBTORS AND PREPAYMENTS**||||| |Sundry Debtors|Unrestricted
Fund
£
-|Restricted
Fund
£|**Total**
**31-Aug-22**
**£**
-|**Total**
**31-Aug-21**
**£**
-
-| ||**-**||**-**|**-**
**-**| |**8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||| |Independent Examiners Fee|Unrestricted
Fund
£
1,675|Restricted
Fund
£|**Total**
**Total**
**31-Aug-22**
**31-Aug-21**
**£**
**£**
-
1,675
1,675|| ||**1,675**||**-**
**1,675**
**1,675**|| ## **9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR** The Charity held no long term liabilities during this or the previous financial year. ## **10. NET ASSETS BETWEEN FUNDS** |Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Funds
Funds
**31-Aug-22**
**31-Aug-21**
£
£
£
£
1,775
-
1,775
2,366
238,836
37,997
276,833
248,841
-
-
-
-
**240,611**
**37,997**
**278,608**
**251,207**| |---|---| 15 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **11. RECONCILIATION OF MOVEMENT ON CAPITAL AND RESERVES** The Company is Limited by Guarantee (08405111) and is a Charity registered with the Charity Commission (1157282) and does not have a Share capital and has no income subject to Corporation Tax. |Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds at 31st August 2022
**12. STAFF COSTS AND NUMBERS**
Gross Wages, Salaries & Fees
Employer's National Insurance Costs
Pension Contributions
Employees who were engaged in each of the following activities:
Charitable Activities|**TOTAL**
**2021/22**
**£**
27,401
-
**27,401**
251,207
**278,608**
**TOTAL**
**2021/22**
£
89,866
2,954
1,200
**94,020**
**TOTAL**
**2021/22**
3|**TOTAL**
**2020/21**
**£**
14,538
-
**14,538**
236,669
**251,207**
**TOTAL**
**2020/21**
£
70,366
2,924
1,200
**74,490**
**TOTAL**
**2020/21**
3| |---|---|---| The Charity operate a PAYE Scheme to pay all employed members of staff. The Charity also employs members of staff on a SelfEmployed basis and is not liable for their Income Tax and National Insurance payments. No members of staff received emoluments of over £60,000. (2020/21:None) ## **13. DIRECTORS AND OTHER RELATED PARTIES** No payments were made to Directors or any persons connected with them during this financial period. No material transaction took place between the organisation and a Director or any person connected with them. (2020/21:None) ## **14. RISK ASSESSMENT** The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. 16 ## **THE PRIMARY SHAKESPEARE COMPANY** ## **(A COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST AUGUST 2022** ## **15. RESERVES POLICY** In the light of the heightened risks identified, the Trustees have decided to retain reserves that equate to at least 6 months of operating costs. The balance of any surplus funds is held in 1-year fixed term bonds and in the charity’s savings account to be deployed in support of the charity’s projects and a continuation of the Development and Administrative post, which has played a crucial role in the growth of the charity’s work. ## **16. PUBLIC BENEFIT** The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake. 17 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to th8tNst*g ofThp Prffjery Shak6sp88rg on the enw 31st August2022 86t c¥Ji on pa9gs 8t0 17. Ro*p8ctb¥• rtspon¥lbllitl•¥ oltn*t••**nd •umlrnr Chgrivg trust￿ Iwho 3Te th• of th• ¢ompany for tho of ￿￿) are raapOft*b￿ for th¢ prtrparaii￿ of the fingncial *818rf*nts. The tsyskees are saiw*J that the rwuYem8ffl of ￿K)n 144111 of the charh￿ Aci 2011 (tr* Act) d095 am. and that t1￿ ¥ rrt) WU￿emeM *) the tJocum8ni or constitutw ol the Charity for the condwting of an ¥udL A5 a cOns•w￿. trustees ha￿ el￿￿ ¢hat thfi 5tat8m8ntS 8ubi8Ct to independgnl examinéthin. 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IrKl•p•rKl•nt•x*mln•e• •t•t•ffl•nt The charty's grw Inceme èx¢eoded £25),(th and l lo uthWk• th• •winalh)n m*M￿r nlth A8u0CKgt￿n of Accounttng TrthnKi In in8 eeurna vf my oxarnknaikn. no matw n•$ ¢om•w ry Otten￿)n.. whlch gNe8 me re0￿nIble cau8e 10 b￿￿*th$t in, ￿Y m•wial thè th*t••• ¥•]ulremwts". . to k8ep accounting rK(yd$ in accordarte ¥wth Bthn 386 of CCrfnpw￿& Act 2CQ6.' and . lo prepare acceunis wh￿h With I￿ 8CcCwnw￿ récords. crynpty Wnh thè rwuThnents of a￿tk)n 396 of th Act 2(￿ and *lth the mothod¥ Pr￿p￿S oltho SWom8nt of TKoMMe￿ p￿c**.. Acthjnting and Reporting by Charrt￿. hBve not be•n mot." cr tv whKh, In my att￿ in ord8r to ￿1b1•• ofts•¢¢wn¢¥ ￿ b• rwched. K Coll8ku MMT cast￿ Vitrw Amjntsng Ltsl New Barn Mudberry Lane Bosham ChKhesier West Sussex P018 8TS th Marth 2023 18