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← The Primary Shakespeare Company

2024-08-31-accounts

ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE) COMPANY REGISTRATION No: 08405111

CHARITY REGISTRATION No: 1157282

Castle View Accounting Ltd Ground Floor Offices

53 High Street Arundel West Sussex BN18 9AJ

1

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page 3 Legal & Administrative Information
Pages 4 to 11 Report of the Directors'
Page 12 Statement of Financial Activities
Page 13 Balance Sheet
Pages 14 to 23 Notes to the Financial Statements
Page 24 Independent Examiner's Report

2

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1157282 COMPANY REGISTRATION NUMBER 08405111 DATE OF INCORPORATION 15th February 2013 START OF FINANCIAL YEAR 1st September 2023 END OF FINANCIAL YEAR 31st August 2024 DIRECTORS AT 31ST AUGUST 2024 Susan Jane Fletcher Susan Sandle Fiona Mallin-Robinson Toyin Okitikpi Denise Rawls Nicholas Willoughby Stuart

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 7th Floor The Dutch House 307-308 High Holborn London WC1V 7LL PRIMARY BANKERS Barclays Bank Plc Camden Town Branch 193 Camden High Street London NW1 7PJ INDEPENDENT EXAMINERS Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

3

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS'

FOR THE YEAR ENDED 31ST AUGUST 2024

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 2024. The report has been prepared in accordance with Part VIII of the Charity Act 2011 and public benefit reporting requirements and equates to a Director’s report set out under the Companies Act 2011.

----- Start of picture text -----
INSPIRE
JULIUS CAESAR PROFESSIONAL
DEVELOPMENT
TOURING PRODUCTION AND
TRAINING TEACHERS AND
SENSORY SHOW ARTS PRACTITIONERS
CREATE
BESPOKE CURRICULUM & SPECIAL EDUCATIONAL
RESOURCES
NEEDS
SPECIALIST LESSONS AND
RESOURCES FOR KEYSTAGE WHOLE SCHOOL PROJECT
2 AND FESTIVAL
ACHIEVE
14 PERFORMING ARTS FESTIVALS
EVALUATION
REACHING OVER 2000 CHILDREN
95% RETENTION OF PARTICIPATING
AND THEIR FAMILIES
SCHOOLS
100% REPORT POSITIVE IMPACT ON
CHILDREN’S ATTAINMENT
----- End of picture text -----

A Foreword from our Board of Trustees

2023-2024 marked the beginning of our 15th Anniversary Year and, as such, it was an exceptional year for The Primary Shakespeare Company. Exceptionally successful, as we further developed our specialist work for children with special educational needs and disabilities, and extended our Annual Festival Programme to more schools across London than ever before. Exceptionally exciting, as we launched our new Musical Theatre strand with its initial pilot project. And exceptionally busy, as our small executive team planned a programme of 15th Anniversary celebrations and fundraising, whilst continuing to deliver our work to the highest standard.

It was back in 2009 that The Primary Shakespeare Company (PSC) delivered its first project in Camden, when it was founded by our Directors Neil Carter and Luke Hollowell-Williams. Since then, PSC has broadened its reach, developing its Shakespeare Festival programmes every year, benefiting over 33,000 children since its inception. We have seen firsthand the positive impact that sustainable arts-based education has on children - because children learn best when engaged, creative and playful, and PSC delivers the perfect environment for that learning to take place.

Our Annual programme employs teams of arts professionals whose deep expertise spans both education and the performing arts equally. We work hard to foster a sense of creative community – amongst the children and schools we work with, our network of skilled teachers and head teachers, and with our talented arts professionals: directors, actors, composers, musicians and choreographers. Our executive team of Directors, comprising Neil Carter, Luke HollowellWilliams, and Kirsty McCreadie, lead the charity not only with great energy and commitment, but also with a genuine understanding of what’s needed to support the education of every single child that we work with.

“The progress witnessed by the teacher and parents was excellent. All parents commented that they had never seen their child so engaged and involved. They were really impressed with the high standard of learning and the enriched oracy. Children, who some may have had perceptions of ‘low ability’, were producing in depth sustained learning both at home and at school.” (Teacher survey 2023)

We take real delight in receiving such feedback and seeing these results for the children and schools participating in PSC’s programmes. As we begin to celebrate our birthday year, we’d like to thank everyone who has worked with us and supported us in 2023-24, and across all our 15 years.

4

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

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 charity has done in Primary and Special schools so that the arts are 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 to embed the Arts in Primary and Special education.

• To build financial security for the charity by combining paid-for services to schools with fund-raising from foundations, individual donations and special events.

Organisational Structure

The Board of Trustees 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:

The charity’s Directors not only have a background as performing arts professionals, they also have a combined 50 years of experience as qualified teachers. This specialist knowledge informs our child-centred planning: every single decision we make is based on what we know works in the classroom.

This year Primary Shakespeare Company focussed on developing our staff resource, formalising the roles of our pool of specialist arts practitioners, including Jeremy Harrison as Special Schools Advisor and Tim Yealland MBE for the Opera Project.

Recruitment and Appointment of Trustees

All members of the Board of Trustees give their time voluntarily and receive no benefits from the charity. This year we welcomed Susan Lawrence, an experienced Head Teacher and education specialist, to The Board of Trustees, which now comprises of 7 members. It was agreed that no further Board recruitment was needed this year.

Our AGM was held in March, at the charity’s offices: 7th Floor, The Dutch House on High Holborn, London.

5

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

Our Patrons and Volunteers

Primary Shakespeare Company is proud to have the support of our Patrons – leaders in the fields of theatre and education – who volunteer their time to help us raise awareness of, and funds for, the charity. Our current Patrons are Hugh Bonneville, Baroness Estelle Morris of Yardley, Billie Piper and Adrian Lester OBE. This year, we were saddened at the loss of our long-standing Patron and supporter Eric Bolton CB MA. Eric had been one of our Patrons since the charity’s inaugural year in 2013. He will be much missed, and we send our sincere condolences to his family.

Our volunteer Patrons have supported the charity in several ways across the year: featuring in films about the charity that are on our website and supporting our fundraising efforts as we plan for our 15th Anniversary year ahead.

Baroness Estelle Morris of Yardley hosted PSC’s annual prize giving ceremony at the House of Lords, recognising outstanding work and achievement from our participating schools. This annual event is a highlight of the PSC calendar, providing a wonderful opportunity to celebrate the work of children and their schools and teachers and we are grateful to Estelle for her support of our Annie Williams Prize Awards event (details of this year’s winners are below).

Safeguarding and Risk Management

The safety and welfare of the children and young people for whom we provide activities is paramount. In line with the Children Act 1989, we are committed to providing safe, participatory and creative opportunities for all the children who take part in PSC’s programmes. Safeguarding of children to participate in our programmes is secured through the implementation of the charity’s Child Protection Policy, which is reviewed annually. This policy and related procedures are for the use of all individuals, whether they are directly employed by Primary Shakespeare Company, employed as contractors on behalf of PSC or are volunteers. All those employed by the PSC are required to have an up to date, enhanced DBS certificate.

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.

One risk that PSC keeps under close review is the significant budgetary pressures that schools currently face. Our aim is to understand such pressures and ensure we maximise accessibility to our programme by keeping our programmes affordable for schools, so that cost is not a barrier to participation.

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, with all our charitable activities being delivered in the United Kingdom.

All of PSC’s main activities contribute to the accessibility, delivery and promotion of an Arts-based curriculum for Primary and Special school pupils, raising attainment and achievement through engagement with Shakespeare through the performing arts. Our work with Special Schools is both in our main Shakespeare Festival programme and as bespoke, whole school projects.

This year, 2370 pupils, aged between 7-18 years old took part in our Festival programmes: 1670 children took part in our theatre project, 150 in our dance project, 130 were involved in our opera project, 120 took part in our new musical theatre project and 300 in our Wyvern project. We worked across 10 inner London boroughs, with a total of 69 participating Primary school classes and 4 Special Schools, including Wyvern Special School in Kent.

6

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

Activities for the Year

Activities for the Year

PSC's artists are inspiring, creative forces bringing a cultural world into our partner schools - their superpower is in unlocking each child’s unique creative force. We deliberately set difficult challenges: write an opera, perform a Shakespeare play, dance for an audience of 200. In succeeding at these difficult tasks, children experience a profound sense of achievement with many teachers describing a big shift in engagement with learning.

Schools report this effect time and time again (and they do; our retention rate is just over 95% over the 15 years that PSC has been operating).

We are proud to have introduced primary school children to a hugely rich and diverse Shakespeare repertoire. From our very first play in 2009, Macbeth, to our more recent Festivals: the famously tragic Romeo and Juliet (2021) and romantic comedy, Twelfth Night (2023) – children actively engage with the themes and ideas the plays present. This year our chosen play was Julius Caesar.

We toured our specially adapted version of the play to every school participating in the festival project. Our Programme Director, Neil Carter, worked with Actor Musician MA students from Rose Bruford to create a bespoke, musically based Julius Caesar performance suitable for 7-11 year olds. To kickstart the Festival programme the show toured to all participating classes so that children’s first experience of the play, and its themes, was watching a carefully conceived 40minute version of the story.

In addition, we worked with Theatre for Young Audience MA students, alongside other specialist practitioners, to create a Sensory Show specifically designed to tour to the special educational needs schools we work with. Children and teachers alike loved the result, and we then filmed a version of this performance which we uploaded to our website so that it could be used as a classroom resources.

We ran a total of 14 Julius Caesar Festivals, including 11 Theatre Festivals, 1 Opera Festival, 1 Dance Festival and new Musical Theatre Festival. Children from mainstream and SEN primary schools worked with our arts professionals - directors, choreographers, musicians, composers, and writers - to devise their own performances based on Julius Caesar. Each school performed their work in our Festivals, alongside other participating schools from their Borough. These Festival performances were presented at local theatres for the local schools’ communities. Working with extraordinary creativity and enthusiasm, the children produced outstanding pieces of theatre, dance, musical theatre, and opera, as well as fantastic classroom work.

Whilst the work delivered in schools and classrooms successfully drives educational attainment, it is the children’s performances in the festivals that embody their hard work and achievement, creating lasting memories for them and their families. Our Julius Caesar Festivals saw standing ovations from every audience as they celebrated what the children had created - performances of high artistic value. The power of applause is always undeniable – in that moment the children know that they have done something remarkable, and it is a feeling that remains with them for years to come.

We know this not just because we see it, but because teachers tell us about the effect that PSC performances have: “It is an incredible experience which unites children, teacher, parents and wider community. I think every year group should have the chance to participate and explore the arts”. (Westminster teacher Julius Caesar Theatre Project, July 2024)

“This mix of the arts is irresistible to our pupils; many of whom are non-verbal, preverbal or in the early development of verbal communication, eliciting the most beautiful impactful responses & leaving a long-lasting legacy of the power of the arts” (Chantal Cook, Head of Expressive Arts, Riverside School, Kent)

PSC’s work with Special Schools continues to be a cornerstone of our delivery, creating fully inclusive participatory arts projects involving children with a range of complex disabilities. This is an ever-growing strand of our work, where we recognize there is significant need.

7

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

Our work with Wyvern Special School in Kent, is an entirely bespoke, whole-school project, tailored to the diverse needs of the students. This year it spanned across a whole term and worked with children with profound and multiple learning disabilities to culminate in a week of showcases, including a promenade performance with a real-life market and a joint performance with children from a local mainstream school, Repton Manor. The project was an overwhelming success.

Our partnership with Rose Bruford continued and, as well as producing our mainstream storytelling show, also created an immersive, sensory storytelling appropriate for children with special needs.

Other activities included:

Evaluation

Success, for us, is having a positive effect on a child’s ability to learn, achieve and attain. We are committed to our own continuous improvement and use evaluation of our work to measure the impact of PSC’s programmes.

We have several ways of harvesting information about the impact of our projects.

Key Statistics from our 2023-2024 annual evaluation survey:

Annie Williams Prizes

2024 marked the 10th year of the Annie Williams Awards, funded by the John Lyon’s Charity. This year, we were thrilled to once again be invited to hold the prize-giving ceremony at the House of Lords, hosted by our Patron, Baroness Estelle Morris of Yardley, on Thursday 26 September 2024.

The ceremony is a wonderful opportunity to celebrate the work that the children have achieved, and share learnings between teachers, pupils and arts practitioners. The children of each of the winning schools present a speech at The House of Lords about their experiences of the Primary Shakespeare Company.

In 2023/24, the winners were:

8

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

PRIZE CRITERIA
Awarded for a class’outstanding
immersion
in the play and
curriculum
Work and engagement across the curriculum, classroom/school displays,
demonstrating the impact on the teacher, wider school community as well
as the class
The Annie Williams Ensemble Prize
Class working together, this could be in workshops/final
performance/supporting each other in curriculum work/creating
displays/noticing that they’ve grown together as a class/team during the
project
£600 towards a theatre trip
Awarded for a class’collaborative
approach across the project.
Awarded to an individual whose teacher/workshop practitioner have
identified
Solo prize x 2
The Annie Williams Prize
£600 towards a theatre trip
Awarded for a class where the teacher has noticed significant
increase in an individual, group or class’ attainment and
achievement during the project.
Work and engagement across the curriculum, classroom/school
displays/relationships. Children’s journey across the project (e.g. in the
past a school noticed specifically how the project had brought the
confidence out in very quiet/shy girls)
Primary Shakespeare Excellence in
Engagement Prize
£300 towards a theatre trip
Awarded for a class where the teacher has noticed great
engagement across the project and curriculum
Engagement in the project/growing/becoming more enthused and
engaged in school/positive change in attitude/extra curricula work/ self-
motivation etc
£40 book token
School Submissions
All classes who submit a presentation will receive an individualised school
canvas to show recognition of engagement in the project
The Annie Williams Attainment and
Achievement Prize
£400 towards a theatre trip		 outstanding

PSC’s Annual prize-giving ceremony is named in memory of the Head Teacher, Annie Williams, whose passion for using the Arts, particularly drama, to inspire and engage young children helped form The Primary Shakespeare Company. Annie was our first champion.

Resources

As a small charity, we are reliant on philanthropic support and our ongoing programme of fundraising continues to attract major donors and individual support alike. This is vital to our programme development. This year, for the first time, PSC took part in ‘The Big Give’ exceeding our campaign target of £10,000. This was a successful new stream of income for us that we hope to repeat in future years.

The value of support from our long-term partners John Lyon’s Charity, the Wellington Foundation, the Thompson Family Trust, Mercers’ Company and Garfield Weston cannot be underestimated. We have also received generous funding from the Wingate Foundation as well as from other foundations and private donors. We are grateful to everyone who generously supports the charity’s work.

We are grateful to GMS Estates and Avire, for providing PSC with a reduced office rent for our head office on High Holborn, where we only need cover the costs of utilities.

Multi-year funding continues to provide us with valuable predictability to assist our forward planning. At the end of the 2023-24 financial year, the charity held a total of £165,601 in unrestricted funds and £37,543 in restricted funds.

9

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

Pricing Policy

Primary Shakespeare Company has a commitment to accessible pricing, and we prioritise working with schools with demonstrable need in areas of deprivation. All the projects we deliver for schools are heavily subsidised by our funders. In 2023/24, this meant that schools paid just one third of the actual cost of the Festivals projects, allowing over 45 schools to participate.

Reserves

In the light of the risks identified, and the changeable economic climate, the Trustees have agreed to retain reserves that equate to at least 6 months of operating costs. The balance of any surplus funds is held in fixed term bonds and in the charity’s savings account. These funds may be deployed as necessary and agreed by the Board, in support of our charitable objects and a continuation of sufficient staffing. Within the reserves, the Trustees have also designated £85,000 as a development and spaces fund for costs associated with projects and contribute to the development of PSC’s practice and for rental of spaces of all kinds. In this way, we can maintain the high standard of delivery and development of the charity’s work that PSC is renowned for.

Plans for Future Years

The Trustees annually review our performance against our 5-year Strategic Plan, with PSC’s next 5-year planning cycle commencing in 2025.

Key priorities for the next five years have been highlighted as follows:

We are also committed to producing outstanding educational resources by and for teachers and, next year (24/25), we will again be producing a graphic novel version of the text, that proved so popular this year. As always, the decisions that we make, and the programmes we offer, will be informed by our team’s ongoing experiences as teachers and educators.

10

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THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

(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
5 & 6
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
77,203
-
122,500
199,703
266,573
964
-
-
964
2,084
61,815
-
-
61,815
59,515
139,982
-
122,500
262,482
328,172
226,677
-
122,819
349,496
313,207
1,740
-
-
1,740
1,675
228,417
-
122,819
351,236
314,882
(88,435)
-
(319)
(88,754)
13,290
254,061
-
37,837
291,898
278,608
(85,025)
85,000
25
-
-
80,601
85,000
37,543
203,144
291,898

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 14 to 23 form part of these financial statements.

12

THE PRIMARY SHAKESPEARE COMPANY IA COMPANY LIIAITED BY GuARATr￿EE} REpoiYf OF THE DIRECTORS. (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024 TOTAL 31-AwJ44 31-Aug-23 Furxts Flxad A88ats Tangible Assets 1.331 Debtor5 & PrepaymeF Cash at Ballk aThJ in Hand 1efj.344 37.543 a)3B87 292,242 166.344 37.543 203,887 292.242 1.740 1.740 1.675 NET CURRENT ASSErs 164fA)4 202.147 29).567 Cr•ditor&' Ajy¥￿￿8 falliro in than ey 10 165,601 37.543 203.144 291.898 MET ASSETS 165.601 37.543 203.144 291,898 Funds otth• Clwlty Ggrwal Funds 08signalèd Funds R￿ncLe￿ Furwts 80.￿1 254.061 37.543 37.543 37,837 Totsl Funds 165.601 37.543 203,144 291.898 DirectOfS' Responsibilit The Th"rectCf5 are sats"sfiwJ that kr the year eTrJed on 31st August 2ff24 tharitth company was entiued to exemption Irc¥n requiremerf to £thin an audrt uNJer seC1v￿ 4T1 ofthe C￿￿TreS Act 2(Kt6 a￿1 that no rnem￿r mam￿rS ￿ve required tt to an audit d ils ￿MArrtS for ts year in in vnth the UK and Reput4￿ of Irelw•J (FRS1021. mply with se￿￿ 386 of the arvj for Fryrnj &aterr￿ts wllch give a aNJ fair view of Ule State of affo￿$ of the CL￿n￿ny as ai the ofthe year aThJ of fts F￿Ofit WKI tss for the financial year in with Pmted Name.. 13

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

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 note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 and the Companies Act 2006.

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.

14

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

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.

Designated Funds

These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.

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.

Pensions

The Charity operates a defined contribution pension scheme. Contributions are accounted for as they become payable in accordance with the rules of the scheme.

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.

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.

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.

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:

Equipment Cost 25% - Reducing Balance Basis Fixtures and Fittings 25% - Reducing Balance Basis

15

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

2. TANGIBLE FIXED ASSETS

Cost
01-Sep-23
Additions
Cost at
31-Aug-24
Depreciation
01-Sep-23
Charge
Depreciation at
31-Aug-24
Net Book Value
31-Aug-24
Net Book Value
31-Aug-23		 Equipment
Fixtures &
TOTAL
Cost
Fittings
2023/24
£
£
£
3,312
2,366
5,678
-
-
-
3,312
2,366
5,678
2,536
1,812
4,348
194
139
333
2,730
1,951
4,681
582
416
998
776
555
1,331

The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st August 2024 : None 31st August 2023 : None

16

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

3. INCOMING RESOURCES

Note
a) Donations, Grants & Legacies
Gift Aid
Gifts & Donations
Grants Received
5
b) Investment Income
Interest
c) Activities for Generating Funds
Fees Received		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
6,433
-
-
6,433
-
6,278
-
-
6,278
15,073
64,491
-
122,500
186,991
251,500
77,203
-
122,500
199,703
266,573
964
-
-
964
2,084
964
-
-
964
2,084
61,815
-
-
61,815
59,515
61,815
-
-
61,815
59,515

17

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

4. RESOURCES EXPENDED

Note
a) Charitable Activities
Administrative Expenses
Advertising & Publicity
Artistic & Programme Directors Fees
Bank Charges
Depreciation Expenses
Equipment Costs
Fundraising Costs
Insurance Costs
Ks2 Opera Project
Office Costs
Photography Costs
Prizes & Awards
Projects Costs
Rent & Rates
Special Needs Project
Staff Costs
Sundry Expenses
Touring Costs
Training Costs
Utility Costs
Website Costs
b) Governance Costs
Independent Examiners Fee
9		 Unrestricted
Designated
Restricted
TOTAL
TOTAL
Funds
Funds
Funds
2023/24
2022/23
£
£
£
£
£
993
-
-
993
836
1,984
-
-
1,984
-
11,828
-
58,588
70,416
72,848
103
-
-
103
-
333
-
-
333
444
1,478
-
-
1,478
1,478
18,544
-
-
18,544
1,035
612
-
-
612
276
675
-
14,923
15,598
33,144
1,980
-
-
1,980
-
3,240
-
-
3,240
2,200
890
-
-
890
1,300
82,631
-
37,718
120,349
108,591
12,752
-
-
12,752
12,285
13,484
-
6,468
19,952
26,165
67,371
-
1,891
69,262
42,155
1,528
-
-
1,528
107
3,510
-
3,231
6,741
7,172
656
-
-
656
1,388
770
-
-
770
-
1,315
-
-
1,315
1,783
226,677
-
122,819
349,496
313,207
1,740
-
-
1,740
1,675
1,740
-
-
1,740
1,675

18

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

5. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

Balance Balance
01-Sep-23 Income Expenditure Transfers 31-Aug-24
£ £ £ £ £
The Wingate Foundation 13 - - - 13
Wellington Management Fund 3,688 40,000 40,066 - 3,622
JLC Main Grant Fund - 60,000 60,025 25 -
St James Place 9 - - - 9
City Bridge Academy 1,144 - - - 1,144
JLC Exceptional Grant Fund 9,998 - - - 9,998
The Mercers Company Trustee to The Charity 22,985 22,500 22,728 - 22,757
of Sir Richard Whittington
37,837 122,500 122,819 25 37,543

PREVIOUS FINANCIAL YEAR

The Wingate Foundation
Wellington Management Fund
JLC Main Grant Fund
St James Place
City Bridge Academy
JLC Exceptional Grant Fund
The Mercers Company Trustee to The Charity
of Sir Richard Whittington		 Balance
Balance
01-Sep-22
Income
Expenditure
Transfers
31-Aug-23
£
£
£
£
£
13
-
-
-
13
3,817
60,000
60,129
-
3,688
-
72,000
72,002
2
-
9
-
-
-
9
1,144
-
-
-
1,144
9,998
-
-
-
9,998
23,016
30,000
30,031
-
22,985
37,997
162,000
162,162
2
37,837

The Restricted Funds held are wholly represented by the Charity's Cash Reserves and are to be expended as specified above.

19

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

6. DESIGNATED FUNDS

CURRENT FINANCIAL YEAR

Development & Spaces Fund Balance
Balance
01-Sep-23
Income
Expenditure
Transfers
31-Aug-24
£
£
£
£
£
-
-
-
85,000
85,000
-
-
-
85,000
85,000

Development & Spaces Fund : For costs associated with projects that contribute to the ongoing and future development of PSC’s practice and for rental of spaces of all kinds required for the delivery of the charity's operations.

The Designated Funds held are wholly represented by the Charity's Cash Reserves and are to be expended on particular purposes or projects as specified by the Trustees.

20

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

7. CASH AT BANK AND IN HAND

Unrestricted Restricted TOTAL TOTAL
Fund Fund 31-Aug-24 31-Aug-23
£ £ £ £
Cash at Bank and in Hand 166,344 37,543
203,887		 292,242
166,344 37,543
203,887		 292,242
8. DEBTORS AND PREPAYMENTS
Sundry Debtors Unrestricted
Fund
£
-		 Restricted
Fund
£		 TOTAL
31-Aug-24
£
-
-		 TOTAL
31-Aug-23
£
-
- -
-		 -
9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Independent Examiners Fee Unrestricted
Fund
£
1,740		 Restricted
Fund
£		 TOTAL
31-Aug-24
£
-
1,740		 TOTAL
31-Aug-23
£
1,675
1,740 -
1,740		 1,675

10. 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.

11. NET ASSETS BETWEEN FUNDS

Fixed Asset Investments
Net Current Assets
Long Term Liabilities		 Unrestricted
Restricted
TOTAL
TOTAL
Funds
Funds
31-Aug-24
31-Aug-23
£
£
£
£
998
-
998
1,331
164,604
37,543
202,147
290,567
-
-
-
-
165,601
37,543
203,144
291,898

21

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

12. 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.

TOTAL
2023/24
£
Profit / (Deficit) for the financial year
(88,754)
Other Recognised Gains
-
(88,754)
Balance Brought Forward
291,898
Closing Funds at 31st August 2024
203,144
13. STAFF COSTS AND NUMBERS
TOTAL
2023/24
£
Gross Wages, Salaries & Fees
134,685
Employer's National Insurance Costs
3,794
Pension Contributions
1,200
139,678
Employees who were engaged in each of the following activities:
TOTAL
2023/24
Charitable Activities
4		 TOTAL
2022/23
£
13,290
-
13,290
278,608
291,898
TOTAL
2022/23
£
112,925
1,178
900
115,003
TOTAL
2022/23
3

The Charity operate a PAYE Scheme to pay all employed members of staff. The Charity also employs members of staff on a Self-Employed basis and is not liable for their Income Tax and National Insurance payments. No members of staff received emoluments of over £60,000. (2022/23:None)

22

THE PRIMARY SHAKESPEARE COMPANY

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS' (Continued) FOR THE YEAR ENDED 31ST AUGUST 2024

14. 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. (2022/23:None)

15. 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. 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.

17. 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.

23

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

Report to the trustees/ members of The Primary Shakespeare Company on the accounts for the year ended 31st August 2024 set out on pages 12 to 23.

Respective responsibilities of trustees and examiner

The Charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The trustees are satisfied that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the governing document or constitution of the Charity for the conducting of an audit. As a consequence, the trustees have elected that the financial statements be subject to independent examination.

Having satisfied myself that the charity is not subject to audit, and is eligible for independent examination, it is my responsibility to:-

a) examine the accounts under section 145 of the Act;

b) to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and;

c) to state whether particular matters have come to my attention.

Basis of independent examiner's statement

I conducted my examination in accordance with the General Directions given by the Charity Commissioners for England & Wales in relation to the conducting of an independent examination, referred to above. An independent examination includes a review of the accounting records kept by the Charity and of the accounting systems employed by the Charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of the Charities legislation and that the financial statements comply with the SORP, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements.

The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the trustees in the course of the examination is not subjected to audit tests or enquiries, and consequently I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.

I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtain written assurances from the trustees of all material matters.

Independent examiner's statement

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Accounting Technicians.

In the course of my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the trustees requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

· to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of recommended Practice: Accounting and Reporting by Charities.

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ

Zp[bh] Date: 24th March 2025

24