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2021-03-31-accounts

Coram Shakespeare Schools Foundation (formerly known as Shakespeare Schools Foundation)

Annual Report and Financial Statements

31 March 2021

Company Limited by Guarantee Registration Number 9883201 (England and Wales) Charity Registration Number 1164676

Contents

Reports

Reports
Reference and administrative information 1
Trustees’ report 3
Independent auditor’s report 20
Financial statements
Statement of financial activities 25
Balance sheet 26
Statement of cash flows 27
Principal accounting policies 28
Notes to the financial statements 33
Appendix
Comparative statement of
financial activities 41
Comparative notes to the
financial statements 42

Coram Shakespeare Schools Foundation

Reference and administrative information

Trustees James Dray (Chair) Guy Davies (Vice Chair & Treasurer) Suba Das Petrina de Gouttes James Hadley Glenda Jones Jill Pay Chloe Surowiec-Allison Vicki Wienand Company Secretary Carol Homden (appointed 1 April 2020) Key management personnel Managing Director Ruth Brock Head of Operations Mike Tucker Registered address Coram Campus 41 Brunswick Square London WC1N 1AZ Company registration number 9883201 Charity registration number 1164676 Auditor Buzzacott LLP 130 Wood Street London EC2V 6DL Bankers National Westminster Bank plc Canton, Cardiff (B) Branch 277 Cowbridge Road East Cardiff CF5 1WX

Coram Shakespeare Schools Foundation 1

Chair’s statement Year to 31 March 2021

On 1 April 2020 in the midst of a national lockdown, Shakespeare Schools Foundation joined the Coram group of charities to become Coram Shakespeare Schools Foundation.

This strategic amalgamation was planned well before the impact of the pandemic on schools and theatres so that the benefits of the largest youth drama festival in the world could strengthen reach and impact for vulnerable and marginalised children and improve sustainability of the charity.

It is as a result of this step - and the support of the government’s Job Retention Scheme and Arts Council emergency funding – that we have been able to continue to achieve results for children even in the face of the challenges of 2020-21 with schools and theatres closed as part of the measures to manage the COVID-19 health crisis.

Some 5,600 children and young people took part in our workshops and performances in 202021. This featured the reinvented One Night of Shakespeare, held virtually on World Children’s Day that celebrated and recognised the determination and talent of this generation of children, who have experienced the greatest discontinuity in their attendance at school since the second world war.

Thanks to the adaptability and commitment of our staff, theatre practitioners, Trustees, Coram group colleagues and supporters, Coram Shakespeare Schools Foundation is now able to offer a year-round programme to schools including Play in a Day workshops, Autumn Film Festival and the iconic theatre festival which will return to the stage in Spring 2022.

“It is not in the stars to hold our destiny, but in ourselves”. Together we will strive to enable children and young people to find in Shakespeare their own confidence, talent, cultural capital and inspiration to be all that they can be.

James Dray, Chair

Coram Shakespeare Schools Foundation 2

Trustees’ report Year to 31 March 2021

The Trustees, who are the directors for company law purposes, present their report and financial statements of Coram Shakespeare Schools Foundation (formerly Shakespeare Schools Foundation) for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out on pages 28 to 32 and comply with the charitable company’s Memorandum and Articles of Association, applicable law and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).

This report has been prepared in accordance with Part VIII of the Charities Act 2011.

Scope of the financial statements

The annual report and financial statements are in respect to Coram Shakespeare Schools Foundation as a stand-alone charity only.

Coram Shakespeare Schools Foundation is part of the Coram group and its ultimate controlling party, The Thomas Coram Foundation for Children (Coram), Registered Charity No. 312278, consolidates the financial statements of Coram Shakespeare Schools Foundation with its own and those of other group members. Coram is the sole member of Coram Shakespeare Schools Foundation.

Objectives and activities

The objects of the charity are: The advancement of education and the advancement of the arts, culture and heritage primarily but not exclusively through the promotion and organisation of the acting of Shakespeare’s plays by young people in schools and theatres throughout the UK and elsewhere, thereby developing those young persons’ self-confidence and creativity.

Our mission: Coram Shakespeare Schools Foundation (CSSF) transforms lives through the unique power of Shakespeare.

CSSF is an award-winning cultural education charity that gives young people of any ability and background the skills they need to succeed in life. Our flagship project is our annual theatre Festival - the world’s largest youth drama project. Months of preparation culminate in performances of Shakespeare’s plays, normally staged in professional theatres nationwide; a journey which builds confidence and self-esteem to last a lifetime. Every year, we give thousands of young people from every nation and region of the UK this unique opportunity.

Alongside our theatre festival the charity runs a collection of specialist interventions, curriculum resources and standalone in-school workshops. All our programmes are designed to help young people to improve their literacy and develop crucial life skills in empathy, confidence and teamwork. Our work is delivered in every type of school and with children from every community and background. We show that Shakespeare truly is for everyone and give everyone who works with us the confidence to see that the whole world is their stage.

Our values Aspirational, Uniting, Experiential, Diverse, Thrilling and Transformative.

Coram Shakespeare Schools Foundation 3

Trustees’ report Year to 31 March 2021

Structure, governance and management

How the charity is constituted

Coram Shakespeare Schools Foundation (formerly Shakespeare Schools Foundation) was incorporated on 23 November 2015 and registered with the Charity Commission in December 2015. The organisation is a charitable company limited by guarantee under a memorandum of association which established the objects and powers of the charitable company and is governed under its Articles of Association. Following the decision by the Trustees to become part of the Coram group, the Articles of Association were amended on 31 March 2020.

On 1 April 2020 Shakespeare Schools Foundation amalgamated with The Thomas Coram Foundation for Children, a registered charity (Charity Registration Number 312278), known as Coram. From this date Coram became the sole member of the CSSF and CSSF became a direct subsidiary of Coram. The company’s name from this date changed to Coram Shakespeare Schools Foundation.

Since becoming part of the Coram Group, CSSF now operates in line with the group approach with Trustees now participating in sub-committees to the parent Trustee board including membership of the Audit Committee by the CSSF Treasurer.

As a result of CSSF becoming part of the Coram Group, the Managing Director and all support functions are provided by Coram (with costs recharged to CSSF) and CSSF operates to group-wide policies and procedures.

All Trustees give their time voluntarily and receive no benefits from the charity. The Charity holds a minimum of four meetings of Trustees each year, with additional meetings as necessary.

Statement on public benefit

The Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Governance structures

As part of the Coram group, CSSF’s Senior Management is supported through membership of additional committees which consult and advise in key areas of the business. In 2020-21 these were:

Coram Shakespeare Schools Foundation 4

Trustees’ report Year to 31 March 2021

Structure, governance and management (continued)

Governance structures (continued)

A summary of these groups’ activity is included in the group Chief Executive’s report to Trustees included in the pack for each full Board meeting.

Appointment of Trustees

Trustees are appointed via the Coram Nominations Committee for a four year term which is renewable for one further term. The Chair is appointed by the Coram board from amongst their number.

The Trustees who served during the period and up to the date on which this report was approved were as follows:

Appointed/Resigned
James Dray (Chair)
Guy Davies (Vice Chair & Treasurer)
Geraint Davies Resigned 12 February 2021
Suba Das Appointed 20 January 2021
Petrina de Gouttes
James Hadley
Glenda Jones Appointed 20 January 2021
Laura King Resigned 9 March 2021
Jill Pay Appointed 1 April 2020
Chloe Surowiec-Allison
Vicki Wienand

Trustee induction and training

All new Trustees are encouraged to undergo an induction programme which includes the history of the charity and a review of its operations including the strategy, current strengths and challenges, its finances and individual roles and responsibilities.

Delegation of day to day running of the charity

The Trustees delegate day to day management of the charity to the Managing Director. In turn, she works with Senior Managers who are accountable for the financial and operational management of the charity: in the reporting period these were Chris Stead, Director of Finance (resigned 5 March 2021), Mike Tucker, Head of Operations and Francesca Ellis, Head of Creative as well as Hannah Watson, Director of Income Generation & Communications (resigned 3 May 2020). The responsibilities of the former Director of Finance and Director of Income Generation and Communications have transferred to Coram Group support functions.

Coram Shakespeare Schools Foundation 5

Trustees’ report Year to 31 March 2021

Structure, governance and management (continued)

Remuneration policy for key management personnel

All matters concerning the performance management, salary management or termination of staff contracts is the responsibility of Coram in accordance with the budget approved by Coram.

Achievements and performance 2020-21

“Our students aren’t scared of Shakespeare anymore – it’s not a scary word for them.”

Sarah Baird, Teacher-Director, Highfield School in Hampshire

Trustees' responsibility, and the key task of the Executive Team in 2020/21, has been to maintain the financial sustainability of the charity against an uncertain educational landscape during the Coronavirus pandemic, whilst continuing to provide vital support for teachers and pupils to engage with the arts through the national lockdowns.

Shakespeare Schools Foundation became part of the Coram group on 1 April 2020. This amalgamation came just days after the UK entered the first national lockdown and over the course of the year, we have integrated our systems and services with the Coram group. Going forward it is a key area of development for us to continue this amalgamation and to identify opportunities for strategic growth, developing new work that will build CSSF’s practice and reach new beneficiaries.

The national lockdowns led to a radically revised landscape for our programmes: the number of pupils attending school in person was severely restricted and our partner theatres closed their doors. In response, CSSF’s work adapted to a digital space, and we maintained effective in-person workshop delivery with social distancing measures in place. At the time of writing school pupils have returned to school sites and are engaging in recovery curricula at all ages and levels. CSSF will continue to support schools with this recovery in the provision of our high-quality arts and literacy interventions.

Coram Shakespeare Schools Foundation 6

Trustees’ report Year to 31 March 2021

Achievements and performance 2020-21 (continued)

Because of the impact of the pandemic on our beneficiaries, for 2020/21 Trustees believed that adaptation of our flagship Festival would provide the most effective means of supporting young people with wellbeing and life skills, attainment, and recovery. A large proportion of our resource was committed to this programme and to fulfil this adapted programme of work, with 8 members of staff (FTE) dedicated to this operational activity and 37% of our total expenditure in the year.

Beyond 2020/21, Trustees and the Executive Team are focused on re-establishing our flagship Festival on a sustainable basis and taking a decisive step towards a year-round model of programme delivery. This will support a balanced portfolio of work that is relevant and accessible to more beneficiaries. We will build on the learnings and successes of this most challenging year – embracing the possibilities of digital learning for our teacher and pupil audiences.

Why Is Our Work Needed?

“As a lesson in resilience this year’s participation and performance has truly proven to us that: ‘It is not in the stars to hold our destiny, but in ourselves.’ ”

Katrina Humphries, Teacher-Director, Fulwell Junior School in Sunderland

It has been an immensely difficult year for some young people. In an educational setting, the loss of classroom learning, daily routines and structure, and limitations to the opportunities for social and emotional growth will have long lasting impact. More broadly, children in the UK reported feeling isolated, an increase in concern for the future, and decreased levels of emotional wellbeing[.1] It is projected that 1.5 million more[2] children and young people will require mental health support as a direct impact of the pandemic during the next three to five years.

As the country’s schools support pupils’ recovery, it is imperative that children’s mental health, wellbeing, social and life skills are a priority. There is a clear link between participation in highquality arts activity and increased levels of wellbeing. Participatory arts programmes help to alleviate anxiety and stress and improve children’s cognitive, linguistic, social and emotional development.[3] Drama builds:

1 Understanding the impact of Covid-19 on children and young people, BBC Children in Need (July 2020)

Coram Shakespeare Schools Foundation 7

Trustees’ report Year to 31 March 2021

Achievements and performance 2020-21 (continued)

High quality arts education experiences are crucial for creating empathetic, collaborative, and adaptive citizens. Research[4] demonstrates how taking part in the arts at school improves children’s life chances by building social and emotional capital. Children with special educational needs and disabilities (SEND) are also much less likely to access these life changing opportunities. Children from disadvantaged backgrounds who access the arts are:

The charity's main activities and who it tries to help are described below. All its charitable activities focus on children and young people, their teachers and communities and are undertaken to further CSSF’s charitable purposes for the public benefit.

Keeping Shakespeare and the arts at the heart of learning

Shakespeare is a fundamental part of our cultural heritage. CSSF’s active, experiential approach to the Works sets us apart. By encountering Shakespeare through drama, rather than just reading the plays, children have the chance to discover his language, spoken and heard, and to explore how the themes raised by his plays have relevance to their own lives and the world around them.

We encourage our teachers and children to experiment and to be creative – plays are written to be performed and when it comes to Shakespeare, there is not one ‘correct’ way to stage his texts. Shakespeare himself retold famous stories, recycled plots and created shows for the actors he had in the room. Through discovering his works ‘on their feet’, children are inspired to take their own creative approach, developing their own ideas and talents and telling the stories that are relevant to them. By working collaboratively, children have opportunities to gain important social skills and support and inspire each other in their learning.

Coram Shakespeare Schools Festival is our charity’s flagship project. We encourage schools of every type and from every nation and region of the UK to join us and take on the challenge of performing an abridged Shakespeare play in the original language.

In June 2020 it became clear that our traditional Festival model would not be viable; theatres closed, and schools opened their classrooms only to children of critical workers and vulnerable pupils. In response to this new and challenging set of circumstances, we radically redesigned our flagship programme to operate within a new world of social distancing restrictions and digital, remote learning. The result was our 2020 Festival, One Night of Shakespeare .

4 Imagine Nation study, Cultural Learning Alliance (2017)

Coram Shakespeare Schools Foundation 8

Trustees’ report Year to 31 March 2021

Achievements and performance 2020-21 (continued)

Keeping Shakespeare and the arts at the heart of learning (continued)

“When in the spring the email pinged into my inbox from CSSF with one really simple, single message, ‘We can do this’, honestly, my heart soared”

Jill Strath, Teacher-Director, Priestlands School in Lymington, Hampshire

How we delivered One Night of Shakespeare

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Trustees’ report Year to 31 March 2021

Achievements and performance (continued)

CSSF's curriculum resources

Underpinning the One Night journey for participants were our curriculum and rehearsal resources. Written by our Schools and Resources Manager, a former teacher, CSSF’s curriculum-linked resources support teachers with their workload, deepen students’ learning and embed the rehearsal process in and out of the classroom. Schemes of work range from in-depth explorations of Shakespeare’s plays to topic-based learning. In 2020, we added to our catalogue of ‘Big Question’ resources, which support PSHE learning by inspiring children to think deeply about modern ethical questions, tackling an issue in the play they are rehearsing.

In April, to celebrate Shakespeare’s birthday week, CSSF ran the #5Plays5Days social media challenge. We encouraged teachers, parents/guardians and pupils to present innovative and playful representations of 5 of Shakespeare's plays on Twitter through photos or videos. We received a total of 156 submissions (and a total of 81.5k impressions) from 56 participating schools and strong positive public feedback on how the project provided a creative outlet during the first month of lockdown.

Feedback from our network of schools during the first national lockdown demonstrated a need for activities and approaches to learning that were suitable to online learning and the ‘digital classroom’. To help teachers and families navigate this transition, Coram SSF ran the #SummerOfShakespeare project online, free to all schools wishing to join. We sent 10 weekly emails to 234 participating teachers, each with a week's worth of activities which explored a different Shakespearean story and its characters through a series of fun, active exercises. The exercises were designed to be used with students either digitally, face to face or via parent/guardians at home.

CSSF Workshops

We delivered 6 standalone workshops in 2020-21. This comprised a variety of KS2/3 sessions and GCSE workshops as well as CPD training for teachers which included events at the Shakespeare Institute and the Museum of London. Each session helped to build knowledge of a particular play, communication skills and team building for both students and teachers.

“CSSF took great care to create a really useful and enjoyable workshop resulting in very positive feedback from teachers.”

Beth Crosland, Senior Programme Manager, Culture Mile Learning

Dozens more student workshops were scheduled to be delivered in schools during the final quarter of 2020/21. These sessions have been postponed to the summer term (Q2 of 2021/22) due to the third national lockdown and subsequent partial close of school sites between January and mid-March 2021. More detail on these workshops will be included in the 2021/22 Annual Report.

Coram Shakespeare Schools Foundation 10

Trustees’ report Year to 31 March 2021

Achievements and performance (continued)

CSSF Workshops

During the third national lockdown, CSSF piloted a digital after-school drama club for KS2 and early KS3 pupils called Shakespeare@Home . The project ran weekly for six sessions and CSSF facilitated character, text and improvisation exercises for the group through the Zoom conference meeting platform. 16 young people from 10 schools in London, Liverpool, Birmingham, Kent and Peterborough participated in the project, which culminated in a recorded showcase.

Beneficiaries of our services

“Before, I was just in my room all the time with nothing to do. Being part of The Tempest helped me to make friends and keep busy.”

Sam, Year 6 Pupil, Heronsgate Primary School in Woolwich, London

The organisation continues to adapt to the challenges it faces because of the Covid-19 pandemic, and of running a smaller sized theatre festival in targeted areas of the UK. The amalgamation with Coram at the beginning of this financial year provided great support in tackling these challenges.

Our adapted programme, although not able to bring school groups together in workshops and theatres, continued the inclusive ethos that runs through our work. Participants were from every background, ability level and a vast geographical area, demonstrating that Shakespeare is a tool that can be used in a multitude of contexts to inspire, thrill, challenge and empower.

Focused planning and support for Teacher-Directors ensured that the inclusive mix of our beneficiaries remained strong and feedback from our comprehensive impact evaluation gives Trustees confidence that the impact of the 2020 Festival in advancing education and the arts for our target beneficiaries and the quality of our work more than fulfil our charitable purpose.

Who Do We Work With?

In 2020, through One Night of Shakespeare we worked with 5,600 children from 224 schools from England, Wales and Scotland. 48% were primary schools, 38% secondary schools and 14% were SEND schools. Of the students we worked with:

Coram Shakespeare Schools Foundation 11

Trustees’ report Year to 31 March 2021

Beneficiaries of our services (continued)

Who Do We Work With?

Through our various standalone workshop sessions, Coram SSF reached:

Diversity and inclusion are at the heart of CSSF’s ethos. In a year where educational inequalities have been exacerbated by lockdown, we want to reach more EAL children, students in receipt of Pupil Premium and children who are eligible for free school meals. We want to raise the percentage of students from BAME backgrounds that make up our school companies, following the social and racial inequities brought into sharp focus by the Black Lives Matter campaigns of Summer 2020.

Methodology & Improvements

To assess our successes and challenges against our theory of change, we take a thorough and large-scale approach based on participant surveys, data capture and case studies. We carry out detailed analysis on all data received and our findings and methodology have been interrogated by a partner at Bain & Company.

What’s the Result? Impact on CSSF’s Beneficiaries

“This year’s company had almost a greater sense of achievement at their performance, because they were aware of the odds they had faced in putting it together.” Sofia Dimoglou, Teacher-Director, Priory School in Lewes

Our impact evaluation tests how far the charity is fulfilling its mission for the children and teachers it is set up to serve. This year was no different. The mission is captured in our objectives and evaluation data and qualitative evidence is set out against those objectives, below. For a full report, including case studies, see our separately published Impact Report at shakespeareschools.org/impact

Coram Shakespeare Schools Foundation 12

Trustees’ report Year to 31 March 2021

Beneficiaries of our services (continued)

What’s the Result? Impact on CSSF’s Beneficiaries

Financial review

In the year ending 31 March 2021, CSSF had income of £893,855 (2020 - £1,630,568) and expenditure of £828,500 (2020 - £1,799,283), resulting in a surplus of £65,355 (2020 – deficit of £168,715). This represents a 45% reduction in income and a 54% reduction in expenditure. External risks and mitigations arising from the Covid-19 pandemic and changes in education funding are discussed in the Impact on our Beneficiaries section above and in the Principal Risks and Uncertainties section below.

The principal funding sources for 2020-21 were:

CSSF was a grateful recipient of Arts Council England’s emergency Culture Recovery Fund, supported by Department for Culture, Media and Sport. More details on this grant are included in the Fundraising section below.

CSSF has also materially benefitted from Theatre Tax Relief, a corporation tax relief aimed at helping the creative industries, for which it became eligible on its incorporation in April 2016. The credit received relating to the year ended 31 March 2020 was £97,717. The claim for the year ended 31 March 2021 is under review.

Principal risks and uncertainties

The charity maintains an up to date Risk Register. The register is discussed and reviewed at monthly Senior Management Meetings and circulated to Trustees prior to each Board meeting.

The key risk has been the closure of schools and theatres and the limitations on schools as they have re-opened. The charity’s 2020 work therefore flexed to focus on the innovative One Night of Shakespeare to curate an evening of online theatre created by pupils and schools from around the country. This was partnered with our facilitated workshops in school, including our Play in a Day and GSCE offers. Costs will continue to be closely managed until circumstances allow the operations to be re-grown.

In the coming year, the pace and nature of the education and arts sectors’ recoveries from the coronavirus pandemic present the most substantial risk to the charity’s future. The charity has worked tirelessly to mitigate this risk, embracing digital opportunities to connect with our beneficiaries and diversifying our portfolio of programmes to expand our reach.

Coram Shakespeare Schools Foundation 13

Trustees’ report Year to 31 March 2021

Principal risks and uncertainties (continued)

Risks and mitigations under our usual operating conditions that Trustees consider to be the most pertinent are set out below:

most pertinent are set out below:
Risk Mitigation
Safeguarding and child protection is always
considered to be the highest-rated risk on our
register (reflecting the impact of such an
incident, as opposed to its likelihood).		 As part of amalgamation with the Coram group
of charities, CSSF has revised procedures and
adopted a new Safeguarding policy. Our new
Safeguarding and Child Protection Procedures
are distributed to and signed by all staff and
Trustees and we continue to run DBS checks at
an enhanced level for our staff.
The business model underpinning the theatre
Festival depends on signing up a minimum
number of schools every year and being able to
perform in theatres and earn box office revenue
from the theatre performances.		 CSSF has run 20 highly successful Festivals,
and this provides a strong operational basis for
our recovery, recognition with schools and re-
entry to theatres post Covid-19.
Fundraising is required each year to subsidise
the running of the theatre Festival,
supplementing the fees that schools pay to
make up the unit cost of each Festival place		 The charity has proactively diversified its
income streams and amalgamated our
fundraising efforts with the highly experienced
team at Coram. It is also continuing to work on
generating our own income, for example
through workshop and curriculum resource
sales.

Reserves policy and going concern

Coram SSF aims to hold a reserve of three months’ expenditure as its general reserve. This will:

At the end of the 2020/21 financial year our total funds stood at £63,676 which included restricted funds of £52,000 for expenditure on specific projects and funds representing the charity’s tangible fixed assets of £12,057. General reserves currently stand at a deficit of £381 compared to a target of £270,000.

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Trustees’ report Year to 31 March 2021

Reserves policy and going concern (continued)

Trustees recognise the need to review reserves each year to ensure an adequate level of reserves is maintained. The Trustees believe that, given the current volatility in the sector, forecast total expenditure is the appropriate measure to set the targeted level of reserves. Progress continues to be made towards achieving the targeted level of reserves through grant income, individual giving and careful cost management.

This policy is reviewed annually alongside the production of the annual accounts in order to:

CSSF was delighted to receive an award of £250,800 from the Culture Recovery Fund via Arts Council England in October 2021 for the reflation of reserves. Coram SSF’s Trustees are also in receipt of a letter of comfort from Coram, the parent charity of CSSF, indicating that it will provide support to CSSF for at least 12 months from the date of approval of these financial statements. The Trustees consider therefore that there are no material uncertainties affecting the charity's ability to continue and are able to conclude that it has reasonable expectation that it will be a going concern for the foreseeable future, deemed to be at least 12 months from approving these accounts.

Fundraising

Approach to fundraising

On 1 April 2020, as part of the amalgamation arrangements, CSSF’s fundraising activity transferred to the Coram group fundraising team. The charity contributed £36k towards fundraising for its activities. The contribution towards fundraising represented 4.3% of our expenditure in the year.

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Trustees’ report Year to 31 March 2021

Fundraising (continued)

CSSF was delighted to benefit from Arts Council England’s emergency Culture Recovery Fund, supported by Department for Culture, Media and Sport. It was established to support for arts organisations placed at risk by the closure of theatres and other performance venues. In 2020/21, we received £207k from this source.

Fundraising policy

CSSF is part of the Coram charitable group, and fundraising activities are undertaken and assured by the central fundraising department. As the parent charity, Coram is registered with the Fundraising Regulator and adheres to the Fundraising Code of Practice. Our Privacy Policy can be found on our website at www.coram.org.uk/privacy. There were no complaints made to CSSF in the year. If you have any comments or concern, please contact fundraising@coram.org.uk.

Next steps

The charity’s immediate priority is to continue adapting its programmes and operational structure to meet the needs of children and teachers in a post-Covid-19 landscape. We will begin delivering our in-person training, workshops, performances and events on a larger scale and we will return to our regional partner theatres once they are permitted to reopen without restrictions. With the support of Coram and the Coram fundraising team, we will seek opportunities to increase our reach, collaborate and work with new groups of beneficiaries.

We will continue to seek emergency funding to help the organisation navigate through this recovery period. CSSF was delighted to receive an award from the Culture Recovery Fund via Arts Council England in October 2020 and was grateful to be awarded a further two grants in the second and third rounds of the scheme in 2021/22, covering operational costs and the reflation of reserves.

Plans for the future

In 2021/22, CSSF will run three different programmes, building on the learnings from our work and innovations in 2020/21:

♦ Summer of Shakespeare Workshops

This season of workshops is focused on social reconnection, experiential learning, and opportunities for play. We will offer a choice of three workshop options through the summer term, all fully facilitated by Coram SSF staff members. Aimed principally at Key Stages 2 and 3, these fun, participatory sessions develop communication, empathy and teamwork whilst exploring one of Shakespeare’s plays.

♦ Shakespeare Schools Film Festival

Our new Film Festival will run from June to November, supporting young people to develop key social and technical skills, engage with a classic text in a new way, and build confidence, resilience and creativity. In partnership with Into Film, teachers will be guided through the process with a series of online CPD sessions giving them all the skills they’ll need to produce a short, filmed Shakespeare production with their pupils. We will showcase the finished films on our website and host a ‘Best of the Fest’ digital event, celebrating schools’ creativity.

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Trustees’ report Year to 31 March 2021

Plans for the future (continued)

♦ Shakespeare Schools Theatre Festival

Our flagship Theatre Festival will return in a new spring timeslot. This programme will see hundreds of groups of students each form a theatre company to rehearse and perform abridged Shakespeare productions at local professional theatres. CSSF will support participating schools with CPD training, curriculum and rehearsal resources, a student workshop led by a CSSF facilitator, as well as the climactic performance evening hosted at a regional UK venue.

Related parties and relationships with other organisations

CSSF works with a range of other charities and companies who help us to fulfil our mission and deliver our objectives.

Social Business Trust: The Social Business Trust (SBT) supports high growth potential social enterprises to scale up their impact through investing cash grants and professional support from its partner organisations (Bain & Company, Charles Russell Speechlys, Clifford Chance, EY, Refinitiv, Permira and Thomson Reuters). SBT has continued to support CSSF this year with a variety of pro bono offers including:

Arts Award: Now in our sixth year of partnership, together we have created clear step-bystep mapping resources enable students to achieve Arts Award (at Discover, Explore, Bronze or Silver level) through participation in our programmes and workshops.

Shakespeare North: Situated in Prescot and representing the third area of the UK with a strong historical connection to Shakespeare, Shakespeare North has partnered with CSSF to develop our relationship with schools in and around the Knowsley area. Scheduled to open its doors in 2022, Shakespeare Schools Festival will be proud to take the stage at the new Playhouse in its inaugural season. We are working closely with the new Creative Director and the local Council as the project develops.

Splaat Photo (formerly Splaat Media ) ensures that a schools’ performances and workshops are captured by professional photographers. In our theatre festival, they give audiences and performers the chance to buy t-shirts, pens and other souvenirs to remember their experience.

Streaming Tank provided the vital video and streaming services that underpinned our successful One Night of Shakespeare broadcast on 20 November 2020. The team will continue to enable CSSF to broadcast live events to a digital audience.

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Trustees’ report Year to 31 March 2021

Related parties and relationships with other organisations (continued)

Hopster is a curriculum-based entertainment platform which is aligned with the UK early years foundation stage (EYFS) framework. Hopster partnered with CSSF to support One Night of Shakespeare by providing free access to their Two Minute Tales series and accompanying activity packs for families and parents.

Triptico Plus is an online provider of educational activities and games for teachers and educators. We have partnered with them to incorporate digital content and interactive online resources within our education products. CSSF teachers have free access to these activities. Triptico also agreed for us to make our existing content free to any teacher who would like to use it during lockdown as part of our Summer of Shakespeare.

Statement of responsibilities of the Trustees

The Trustees (who are also directors of Coram Shakespeare Schools Foundation - formerly Shakespeare Schools Foundation - for the purposes of company law) are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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Trustees’ report Year to 31 March 2021

Statement of responsibilities of the Trustees (continued)

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees’ Annual Report was approved by the Trustees on 8 December 2021 and signed on their behalf by:

James Dray

Chair

Date: 8 December 2021

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Independent auditor’s report 31 March 2021

Independent auditor’s report to the members of Coram Shakespeare Schools Foundation

Opinion

We have audited the financial statements of Coram Shakespeare Schools Foundation (the ‘charitable company’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Coram Shakespeare Schools Foundation 20

Independent auditor’s report 31 March 2021

Other information

The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Coram Shakespeare Schools Foundation 21

Independent auditor’s report 31 March 2021

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Coram Shakespeare Schools Foundation 22

Independent auditor’s report 31 March 2021

Auditor’s responsibilities for the audit of the financial statements (continued) We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Coram Shakespeare Schools Foundation 23

Independent auditor’s report 31 March 2021

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Amanda Francis (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

17 December 2021

Coram Shakespeare Schools Foundation 24

Statement of financial activities (including income and expenditure account) Year to 31 March 2021

Notes Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Total
funds
2020
£
Income from:
Grants and donations
1
Charitable activities
. Festival
2
Other trading activities
3
Bank interest
Other – theatre tax relief
18
Other – Coronavirus Job Retention
Scheme
Total income
Expenditure on:
Raising funds
4
Charitable activities
. Festival
4
Total expenditure
Net income (expenditure) and
movement in funds
5
Reconciliation of funds:
Funds brought forward at 1 April 2020
Funds carried forward at 31 March 2021		 371,606
196,428
31,130
26
12,716
112,904		 169,045
—
—
—
—
—		 540,651
196,428
31,130
26
12,716
112,904		 346,283
1,041,585
147,690
323
94,687
—
724,810 169,045 893,855 1,630,568
143,179
568,276		 —
117,045		 143,179
685,321		 375,305
1,423,978
711,455 117,045 828,500 1,799,283
13,355
(1,679)		 52,000
—		 65,355
(1,679)		 (168,715)
167,036
11,676 52,000 63,676 (1,679)

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

Coram Shakespeare Schools Foundation 25

Balance sheet 31 March 2021

Notes 2021
£		 2021
£		 2020
£		 2020
£
Fixed assets
Intangible fixed assets
9
Tangible fixed assets
10
Current assets
Stock
11
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due
within one year
13
Net current assets (liabilities)
Total net assets
The funds of the charity
16
Restricted funds
Unrestricted funds
. General funds		 283
159,295
213,657		 8,264
3,793		 3,723
473,121
188,435		 9,182
23,186
12,057
51,619		 32,368
(34,047)
373,235
(321,616)		 665,279
(699,326)
63,676 (1,679)
52,000
11,676		 —
(1,679)
63,676 (1,679)

Approved by the Trustees of Coram Shakespeare Schools Foundation, Company Registration Number 9883201 (England and Wales), and signed on their behalf by:

James Dray

Chair

Approved on: 8 December 2021

Coram Shakespeare Schools Foundation 26

Statement of cash flows Year to 31 March 2021

Note 2021
£		 2020
£
Cash flows from operating activities
Net cash provided by (used in) operating activities
A
Cash flows from investing activities
Purchase of tangible fixed assets
Bank interest received
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
C
Cash and cash equivalents at 1 April 2020
Cash and cash equivalents at 31 March 2021
B		 25,196 (87,174)
25,196 (87,174)
—
26		 (376)
—
26 (376)
25,222
188,435		 (87,550)
275,985
213,657 188,435

A Reconciliation of income (expenditure) to net cash provided by (used in) operating activities

activities
2021
£		 2020
£
Net income (expenditure) for the year (as per the
statement of financial activities)
Adjustments for:
Depreciation and amortisation charges
Bank interest received
Loss on the disposal of tangible fixed assets
Decrease in stocks
Decrease in debtors
Decrease in creditors
Net cashprovided by (used in) operating activities		 65,355
15,574
(26)
4,737
3,440
313,826
(377,710)		 (168,715)
12,277
—
—
877
191,919
(123,532)
25,196 (87,174)

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
2021
£
213,657		 2020
£
188,435
Total cash and cash equivalents: Cash at bank and in hand

C Analysis of changes in net debt

Analysis of changes in net debt
At 1 April
2020
£		 Cash flows
£		 Other non-
cash
changes
£		 At 31
March 2021
£
Total cash and cash equivalents:Cash
at bank and in hand		 188,435 25,222 — 213,657

Coram Shakespeare Schools Foundation 27

Principal accounting policies 31 March 2021

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2021 with comparative information provided in respect to the year 31 March 2020.

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 accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.

Principal accounting policies 31 March 2021

Assessment of going concern (continued)

The Trustees acknowledge and recognise the continuing impact of the COVID-19 pandemic on the charity, its stakeholders and on wider society. The charity continues to work towards achieving unrestricted surpluses in the medium term to increase free reserves. As activity emerges from the COVID-19 pandemic and the associated challenges of lockdown, the charity’s target is reducing costs and adapting operations to facilitate a year-round delivery model. With the support of Coram fundraising, the aim is to generate unrestricted fundraising income to deliver a diverse programme for schools that support their recovery.

Whilst the Trustees acknowledge that COVID-19 has presented challenges, especially in respect to delivery of services to schools, and fundraising, the Trustees do not believe there will be any significant impact on the work of the charity or on its future income and expenditure flows. However, the Trustees will continue to keep both income and expenditure under review. The charity also continues to have the support of its parent entity, Coram, which has given an undertaking to provide financial support if and when needed.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.

Basis of consolidation

Coram Shakespeare Schools Foundation is part of a larger group and its ultimate controlling party, Coram, consolidates the financial statements of Coram Family and Childcare with its own and those of other group members.

Income

Income is recognised in the period in which the charity has entitlement to the income and the amount can be measured reliably and it is probable that the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Income comprises donations and grants, theatrical income and registration fees, income from trading activities and other sundry income.

Donations and grants are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations and grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Theatrical income and registration fees for the festival are recognised as the service is delivered. As at 31 March 2021, work had not started on the following year’s festival. As at 31 March 2020, 15% of the registration fees for the following year’s festival were recognised as income and the remaining 85% were treated as amounts received in advance and included in creditors.

Coram Shakespeare Schools Foundation 29

Principal accounting policies 31 March 2021

Income (continued)

Income from trading activities and other sundry income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income from the Coronavirus Job Retention Scheme is credited to the statement of financial activities once the charity is entitled to the funding and when the amount receivable has been quantified.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

In accordance with the Charities SORP (FRS 102), volunteer time is not recognised

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Coram Shakespeare Schools Foundation 30

Principal accounting policies 31 March 2021

Allocation of support and governance costs

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with the publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity.

♦ Festival 82% ♦ Cost of raising funds 18%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements.

Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Tangible fixed assets

All assets costing more than £1,000 and with an expected useful life exceeding one year are capitalised. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the assets, less their estimated residual value, over their expected useful lives on the following bases:

Intangible fixed assets

Intangible fixed assets comprise internally developed scripts.

Internally developed intangible assets are recognised only if all of the following conditions are met:

Coram Shakespeare Schools Foundation 31

Principal accounting policies 31 March 2021

Intangible fixed assets (continued)

The intangible assets are stated at cost less accumulated amortisation. Amortisation is charged over a five-year period on a straight-line basis, from the date the asset is available for use.

Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Coram Shakespeare Schools Foundation 32

Notes to the financial statements 31 March 2021

1 Grants and donations Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Total
funds
2020
£
Individual donations
Sponsorship
Grants
Social Business Trust
Arts Council
Trusts
Hodge Foundation
Eranda Rothschild Foundation
Four Acre Trust
Postcode Community
The Leathersellers Trust
Rix-Thompson-Rothenberg Foundation
The Sir Knott Trust
The Atherton Family Trust
The Dulverton Trust
April Trust
Esmee Fairbairn
Other small trusts		 113,390
—
—
206,666
—
—
—
—
—
—
—
50,000
—
—
—
1,550		 —
—
—
—
—
34,895
25,000
—
—
—
—
—
30,000
12,000
40,000
27,150		 113,390
—
—
206,666
—
34,895
25,000
—
—
—
—
50,000
30,000
12,000
40,000
28,700		 133,697
2,275
3,466
—
60,318
25,000
25,000
9,377
7,500
5,000
5,000
—
—
—
—
69,650
371,606 169,045 540,651 346,283

2 Income from charitable activities

Income from charitable activities
Theatrical income
Registration fees		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Total
funds
2020
£
6,273
190,155		 —
—		 6,273
190,155		 254,988
786,597
196,428 — 196,428 1,041,585

3 Income from other trading activities

Income from other trading activities
Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Total
funds
2020
£
Merchandise
Workshops and events		 1,854
29,276		 —
—		 1,854
29,276		 44,035
103,655
31,130 — 31,130 147,690

Coram Shakespeare Schools Foundation 33

Notes to the financial statements 31 March 2021

4 Analysis of expenditure

Analysis of expenditure
Raising
funds
£		 Charitable
activities:
festival
£		 Governance
costs
£		 Support
Costs
£		 Total
2021
£		 Total
2020
£
Staff costs (note 6)
Consultants
Staff travel and expenses
Festival promotion and evaluation
Festival programme and
merchandise
Teacher workshops
Company workshops
Theatre hire and performance
costs
Workshop costs
Cultivation events
Fundraising costs
Premises
Other office costs
Audit
Depreciation and loss on disposal
Support costs
Governance costs		 89,270
—
—

—
3,440
—
—
—
—
—
893
—
—
—

—		 410,779
—
458
17,434
—
235
6,208
315
11,679
—
—
—
—
—
918		 12,604
—
—
—
—
—
—
—
—
—
—
—
—
12,050
—		 128,231
9,529
370
—
—
—
—
—
—
—
—
47,055
62,376
—
14,656		 640,884
9,529
828
17,434
3,440
235
6,208
315
11,679
—
893
47,055
62,376
12,050
15,574		 1,122,669
20,383
21,062
33,515
21,431
28,022
32,461
278,991
24,947
7,352
29,852
62,354
91,067
12,900
12,277
93,603
45,316
4,260		 448,026
216,901
20,394		 24,654
—
(24,654)		 262,217
(262,217)

—		 828,500
—
—		 1,799,283
—
—
143,179 685,321 — — 828,500 1,799,283

5 Net income (expenditure) and net movement in funds

This is stated after charging:

Depreciation and amortisation
Operating lease rentals:
. Property
. Other
Auditors’ remuneration (excluding VAT):
. Audit
. Other services – taxation advice		 Total
2021
£		 Total
2020
£
15,574
17,943
15,848
9,050
3,000		 12,277
27,087
17,714
9,900
3,000

6 Staff costs

Staff costs
Total
funds
2021
£		 Total
funds
2020
£
Salaries and wages
Social security costs
Pension costs
Contractors		 544,289
46,893
14,612		 836,423
68,809
23,350
605,794
35,090		 928,582
194,087
640,884 1,122,669

Coram Shakespeare Schools Foundation 34

Notes to the financial statements Year to 31 March 2021

6 Staff costs (continued)

The average number of employees (head count based on number of staff employed) during the year was 18 (2020 – 54).

Staff are split across the activities of the charitable company as follows:

Headcount
based on
number of
staff
employed
2021
No.		 Full time
equivalent
2021
No.		 Headcount
based on
number of
staff
employed
2020
No.		 Full time
equivalent
2020
No.
Income generation and communications
Festival and creative
Support and governance		 1.5
19.7
3.9		 1.5
13.1
3.8		 7.0
42.0
5.0		 6.7
23.1
4.9
25.1 18.4 54.0 34.7

The number of employees who earned £60,000 or more (including taxable benefits but excluding employer pension costs and employer’s national insurance) during the year was as follows:

2021
No.		 2020
No.
£70,001 – £80,000 1 1

Key management personnel are defined as the Trustees and two members of the senior management team (2020: 5 members). The total remuneration of the key management personnel of the charity (including taxable benefits and employer’s pension and national insurance contributions) was £117,283 (2020 – £286,582).

No Trustee received any remuneration in respect to their services during the year (2020 – none). No expenses were reimbursed to Trustees during the year (2020 – £nil). Donations from Trustees are included in note 7.

7 Related party transactions

The Big Give is the UK's biggest match funding campaign. Shakespeare Schools Foundation takes part in the annual Christmas Challenge raising funds for the charity. Trustees made total donations of £17,140 (2020 – £23,590).

Donations and pledges were received from Geraint Davies (£500), Guy Davies (£4,000), James Dray (£1,800), Petrina de Gouttes (£100), James Hadley (£5,000) Laura King (£1,200), Chloe Surowiec-Allison (£240), Tracy Sherman, the spouse of Guy Davies (£4,000), and Vicki Wienand (£300). Further donations by Trustees under £500 are not listed individually.

Coram Shakespeare Schools Foundation 35

Notes to the financial statements Year to 31 March 2021

7 Related party transactions (continued)

In 2020, donations and pledges were received from Geraint Davies (£1,000), Guy Davies (£12,500), James Dray (£1,500), James Hadley (£3,000), Laura King (£2,500), and Tracy Sherman, the spouse of Guy Davies (£2,500). Further donations by Trustees under £500 are not listed individually.

There were no further related party transactions in the year (2020 – none).

8 Taxation

Coram Shakespeare Schools Foundation is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

9 Intangible fixed assets

Scripts
£
Cost
At 1 April 2020 and at 31 March 2021
Amortisation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 31,650
22,468
918
23,368
8,264
9,182

Coram Shakespeare Schools Foundation 36

Notes to the financial statements Year to 31 March 2021

10 Tangible fixed assets

Tangible fixed assets
Fixtures
and fittings
£		 Computer
equipment
£		 Total
£
Cost or valuation
At 1 April 2020
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
Disposals
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 6,505
—		 77,699
(25,580)		 84,204
(25,580)
6,505 52,119 58,624
2,684
764
—		 58,334
13,892
(20,843)		 61,018
14,656
(20,843)
3,448 51,383 54,831
3,057 736 3,793
3,821 19,365 23,186

11 Stock

2021
£
283		 2020
£
3,723
T-shirts and other festival merchandise

12 Debtors

Debtors
2021
£		 2020
£
Trade debtors
Prepayments
Theatre tax relief (note 18)
Accrued income
Other debtors		 28,038
10,527
97,717
23,013
—		 256,644
26,337
85,000
95,696
9,444
159,295 473,121

Coram Shakespeare Schools Foundation 37

Notes to the financial statements Year to 31 March 2021

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2021
£		 2020
£
Trade creditors
Accruals
Deferred income (note 14)
Amount owed to parent undertaking
Social security and other taxes
Other creditors		 26,954
23,178
175,636
29,007
57,748
9,093		 47,796
109,268
422,607
—
114,348
5,307
321,616 699,326

14 Deferred income

Deferred income
2021
£		 2020
£
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year		 422,607
(422,607)
175,636		 511,357
(511,357)
422,607
175,636 422,607

Deferred income includes £96,307 (2020 – £385,379) of registration fees received from schools in payment for next years’ festival, plus £52,000 (2020 – £28,300) received in relation to other activities taking place in the following financial year.

15 Analysis of net assets between funds

Unrestricted
£		 Restricted
£		 2021
£		 2020
£
Fixed assets
Net current assets (liabilities)		 12,057
(381)		 —
52,000		 12,057
51,619		 32,368
(34,047)
11,676 52,000 63,676 (1,679)

Coram Shakespeare Schools Foundation 38

Notes to the financial statements Year to 31 March 2021

16 Movements in funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trusts to be applied for specific purposes:

purposes:
At 1 April
2020
£		 Income
£		 Expenditure
£		 At 31
March
2021
£
Restricted funds
Eranda Rothschild Foundation
Four Acre Trust
The Dulverton Trust
April Trust
Esmee Fairbairn
Other small trusts
Total restricted funds
Total unrestricted funds
Total funds		 —
—
—
—
—
—		 34,895
25,000
30,000
12,000
40,000
27,150		 (34,895)
(25,000)
(30,000)
—
—
(27,150)		 —
—
—
12,000
40,000
—
— 169,045 (117,045) 52,000
(1,679) 724,810 (711,455) 11,676
(1,679) 893,855 (828,500) 63,676

Eranda Rothschild Foundation : To support schools in disadvantaged areas across the UK to experience the festival process.

Four Acre Trust : To support and increase the participation of special schools in the Festival process.

The Dulverton Trust : Support costs for running the Festival with schools in Scotland and the North East.

April Trust : To grow our network and practice with Pupil Referral Units (PRUs).

Esmee Fairbairn: ‘Off-Grid Shakespeare’ project, taking our work to rural schools in English opportunity areas.

Coram Shakespeare Schools Foundation 39

Notes to the financial statements Year to 31 March 2021

17 Operating lease commitments

The charity’s total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Property
2021
£		 Equipment
2021
£		 Property
2020
£		 Equipment
2020
£
Less than one year
One to five years		 —
—		 15,559
925		 20,987
—		 15,559
18,363
— 16,484 20,987 33,922

18 Theatre Tax Relief

As an incorporated entity falling within the corporation tax regime, Shakespeare Schools Foundation became eligible for Theatre Tax Relief on core costs directly related to its productions since its incorporation on 1 April 2016. No amount has been included in these financial statements in respect to 2021 as the amount is not expected to be material.

2021
£		 2020
£
Accrued in the year
Under provision		 —
12,717		 85,000
9,687
12,717 94,687

Coram Shakespeare Schools Foundation 40

Appendix:

Comparative statement of financial activities Year to 31 March 2020

Notes Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Income from:
Grants and donations
1
Charitable activities
. Festival
2
Other trading activities
3
Bank interest
Other – theatre tax relief
18
Total income
Expenditure on:
Raising funds
4
Charitable activities
. Festival
4
Total expenditure
Net movement in funds
Reconciliation of funds:
Funds brought forward at 1 April 2019
Funds carried forward at 31 March 2020		 160,972
1,041,585
147,690
323
94,687		 185,311
—
—
—
—		 346,283
1,041,585
147,690
323
94,687
1,445,257 185,311 1,630,568
375,305
1,232,817		 —
191,161		 375,305
1,423,978
1,608,122 191,161 1,799,283
(162,865)
161,186		 (5,850)
5,850		 (168,715)
167,036
(1,679) — (1,679)

Coram Shakespeare Schools Foundation 41

Appendix:

Comparative notes to the financial statements Year to 31 March 2020

1 Grants receivable

Grants receivable during the year comprised the following:

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Individual donations
Sponsorship
Grants
Social Business Trust
Trusts
Hodge Foundation
Eranda Rothschild Foundation
Four Acre Trust
Postcode Community
The Leathersellers Trust
Rix-Thompson-Rothenberg Foundation
The Sir Knott Trust
Small trusts		 133,697
2,275
—
—
—
25,000
—
—
—
—
—		 —
—
3,466
60,318
25,000
—
9,377
7,500
5,000
5,000
69,650		 133,697
2,275
3,466
60,318
25,000
25,000
9,377
7,500
5,000
5,000
69,650
160,972 185,311 346,283

2 Income from charitable activities

Income from charitable activities
Theatrical income
Registration fees
Total income		 Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
254,988
786,597		 —
—		 254,988
786,597
1,041,585 — 1,041,585

3 Income from other trading activities

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Merchandise
Workshops and events		 44,035
103,655		 —
—		 44,035
103,655
147,690 — 147,690

Coram Shakespeare Schools Foundation 42

Appendix:

Comparative notes to the financial statements Year to 31 March 2020

4 Analysis of expenditure

Raising
funds
£		 Charitable
activities:
Festivals
£		 Governance
costs
£		 Support
Costs
£		 Total
2020
£
243,543
7,344
—
2,178
21,431
—
—
—
—
7,352
29,852
—
—
—
—		 710,847
8,000
16,316
31,337
—
28,022
32,461
278,991
24,947
—
—
1,480
801
—
1,021		 12,746
—
—
—
—
—
—
—
—
—
—
—
—
12,900
—		 155,533
5,039
4,746
—
—
—
—
—
—
—
—
60,874
90,266
—
11,256		 1,122,669
20,383
21,062
33,515
21,431
28,022
32,461
278,991
24,947
7,352
29,852
62,354
91,067
12,900
12,277
311,700
58,989
4,616		 1,134,223
268,725
21,030		 25,646
—
(25,646)		 327,714
(327,714)
—		 1,799,283
—
—
375,305 1,423,978 — — 1,799,283

15 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
£		 Restricted
£		 2020
£
Fixed assets
Net current liabilities
Net assets at 31 March 2020		 32,368
(34,047)		 —
—		 32,368
(34,047)
(1,679) — (1,679)

16 Movements in funds

Movements in funds
At 1 April
2019
£		 Income
and gains
£		 Expenditure
and losses
£		 At 31
March
2020
£
Restricted funds
Postcode Community Trust
Hodge Foundation
Eranda Rothschild Foundation
Regional Trusts and Sponsorship
Department for Education
Total restricted funds
Total unrestricted funds
Total funds		 —
—
—
—
5,850		 9,377
60,318
25,000
90,616
—		 (9,377)
(60,318)
(25,000)
(90,616)
(5,850)		 —
—
—
—
—
5,850 185,311 (191,161) —
161,186 1,445,257 (1,608,122) (1,679)
167,036 1,630,568 (1,799,283) (1,679)

Coram Shakespeare Schools Foundation 43