Coram Shakespeare Schools Foundation Annual Report and Financial Statements 31 March 2025 Company Limited by Guarante Registration Number 09883201 (England and Wales) Charity Registration Number 1164676 Coram Shakespeare Schools Foundation
Contants Reports Reference and administrative infomalion Chair's 51atemenl Tru51ees' report Independent auditor's report 18 Financlal statemonts Statement of financial activities 23 Balance sheet 24 Statement of cash Ilows 25 Principal accounting policies 26 Notes to the ftnancial statements 31 Appendlx Comparative slalemenl of financial activities Comparative notes to the financial slalemenls 39 Coram Shakespeare Schools Foundation
Reference and administrative Infomiation Patron Her Majesty The Queen Trustees Dr James Diay (Chairl Guy Davies Ivice Chair & Treasurer) Dr Glenda Jones Hester Lockley Jill Pay Jeff Tijssen Vicki Wenand Dr Carol Homden CBE Company Socretary Senior Management Team Head ofcoram Shakespeaie Schools Foundation Mike Tucker Registerèd address Coram Campus 41 Brunswick Square London WC1N 1AZ Company rggi$tratlon numbor 0 9883201 Charity reulstration number 1164676 Auditor Buzzacoll Audit LLP 130 Wood Street London EC2V 6DL Bankers National Westminster Bank plc Canton, Cardiff (B) Branch 277 Cowbridge Road East East Cardiff CF5 1WX Coram Shakespeare Schools Foundation 1
Chalr's statement Year to 31 March 2025 This has been a year of momentum and meaningful impact. as we continued lo bring transformative creative experiences lo thousands ofyoung people across the UK and beyond. Almost 10,000 pupils from 40D schools look part in our programmes f¥om primary. secondary and SEND settings in every region. Our mission is to give every child, whatever their background, A Chance to Shine with the opportunity lo grow in confiden. creativity and ambition through Shakespeare. And this year, we saw powerful examples of that mission in action. In 2024125, 9,000 young people performed abridged Shakespeare plays in 58 professional Ihealres, supported by trained educators and our dedicated theatre praclilioners. Over 20,000 audience members allended these celebratory evenings a leslamenl lo the communities we engage and the pride these performances inspirè. Behind the statlstics are deeply personal stories of growth and tiansformation. One student with anxiety initially refused to part¢cipate in the performance. Bul through the support of his teacher and peers, he grew in confidence and eventually stepped onlo the stage- a moment his teacher described as life-changing. For many children, this is notjust a performance night at a theatre- it is a turning point. Our parlnerships have deepened, en8bling more targeted and inclusive opporlunilies. We continued our collaboration with Magdalen College, Oxford, giving students from Nottingham and Sheffield a ur¢ique ohance lo rehearse and perform Shakespeare in a university selling. For some, it was their first exposure to higher education an experien that expanded their sense of possibility. Olsr International Sh8kespeare on Film programme also reached new heights, with participants from eight countries ciealing and submilling short films inspired by Shakespeare's works. Our workshop programme had its strongest year to dale, delivering 28 workshops for nearly 1,000 students across the country. Our partnership with the Criterion Theatre brought technical theatre training lo 140 young people. helping address skills gaps in the sector and broaden career horizons. Tttis year, we also developed our live-year strategy, All the Worfd s Our St8ge, setting a bold vision to reach 25,000 young people in the next 25 months. We submilled evidence lo the Deparlmenl for Education's Curriculum Review and continue to advocate for drama as a core parl of every child's education. 'One of our pupils has had a significant speech and 18ngtJ8g& needs. The Feslival has allowsd her Ihe opportunity to show 'her voice, to a large audience. Her confidence has gone Ihmugh the roofl, Mark Shenton, Teacher-Direclor al Belle Vue Primary School in Carlisle As we begin to mark our 25th anniversary, I want lo thank everyone who makes our work possible.. the dedicated staff, teachers, theatres and freelancers, and our generous fundeTS Coram ShakespeaTe Schools Foundation 2
Chair's statement Year to 31 March 2025 and supporters- in particular The Big Give, Charlotte Ailken Trust and the Sobell Foundation. You are helping young people find their voices, challènge expectations and lake their place in the spollighl. Together, we're building a future where every child has the chance lo shine. Dr James Dray Chair of Trustees Date-. 15 September 2025 Coram Shakespeare Schools Foundation 3
Trustees. report Year to 31 Maroh 2025 The Trustees, who are the directors for company law purposes, present their report and fi'nancial slalemenls of Coram Shakespeare Schools Foundation foi the year ended 31 March 2025. The financial slalemenls have been prepared in accordance with the accounting policies set out on pages 26 to 30 and comply with the charitable company's Memorandum and Articles of Association, applicable law and Accounting and Reporting by Charities.. Slalement of Recommended Practice (the Charities SORPI applicable lo charities preparing their accOnIS in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. Thls report has been prepared in accordance with Part Vlll of the Charities Act 2011. Scope of the financial statements The annual report and financial slalements are in respect lo Coram Shakespeare Schools Foundation as a stand-alone charity only. Coram Sh8kespeare S¢hools Foundation is part of Ihe Coram group and ils ultimate controlling party, The Thomas Coram Foundation for Children (Coram), Registered Charity No. 312278, consolidates the financial statements of Coram Shakespeare Schools Foundation with ils own and those of other group members. Coram is the sole member ol Coram Shakespeare Schools Foundation. Objectives and actlvities The objects of the charity are.. The advancement of education and the advancement of the arts. culture and heritage primariw bul not exclLssively through the promlion and organisalion of the acting of Shakespeare's plays by young people in schools and theatres throughout the UK and elsewhere, theieby developing those young persons, self-confidence and creativity. Ourmission: Coram Shakespeare Schools Foundation ICSSFI 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 prole¢l. Months of preparation culminate in performances of Shakespeare's plays, normally staged in professional Ihealres nationwide., a journey which builds confidence and self-esleem lo last a lifetime. Every year, we give thousands of young people from every nation and region of the UK this unique opportunity. Alongside OLfr theatre festival, the charity runs a collection of specialist inlewentions, digital projects, curriculum resources and standalone in-school workshops. All our programmes are designed lo help young people build their confidence, creakn'vity and wellbeing and develop the essential life skills ol empathy, confidence and teamwork. Our work is delivered in every type of school and with children from every commur¢ity and background. We show that Shakespeare truly is for everyone and give everyone who works with us the confidence lo see that the whole workl Is their stage. Our approach embodies the energetic and ambitious way in which we work lo fulfil our mission.. Aspiralional, Uniting, Experienllal, Diverse, Thrilling and Transformative and is commilled to equality and inclLrsion reaching children and young people from all backgrounds. Coram Shakespeare Schools Foundation 4
Trustees, report Year to 31 March 2025 Statement on public benefit The Trustees review the aim5, objectives and aGlivilies of the charity each year. This report looks al what the charily has achieved and the outcomes of ils work in the reporting period. The Trustees report the success of each key activity and the benefits the charity ha5 brought to those groups of people that il is sel up to help. The review also help5 the Trustees ensure the charity's aims. objective5 and aclivilies iemained focused on 118 Staled 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 obje¢lives and in planning ils future aclivilies. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set. The need for our work 1. Expandlng Access, Unlocking Opportunity A disadvantaged slarl in life continues to limit a child's opporlunilies- and in 2025, the data paints a stark picluo. The Education Policy Institute continues to demonslrale the large 'attainment gap, that exists in attainment bebNeen disadvantaged pupils and their peersl whilst the Cultural Learning Alliance has dèmonslraled another divide-. the enrichment gap. High-qualily arts education remains largely determined by income, geography and school funding. Childien from more affluent families are signifi'cantly more likely lo a¢sS music lessons, creative clubs, and theatre trips. Meanwhile, those from lower-income households- parlicularty in rural or under-iesourced areas face growing barriers to pailicipation, exacerbated by the cost-of-living crisis. Research from Arts Council Sngland shows that pupils with special educational needs and disabilities {SENDI, those in alternative provision. and those from marginalised communities are among the least likely lo access meaningful culbjral experiences. CSSF strives to help change this by bringing inclusive, high-qualily creative opportunities to schools and young people across the country - including those who are too often excluded from the cultural conversation. In 2024, 37% of our partner s¢hools were located in the most deprived areas of the UK, and over 1 Ook were specialist SEND settings. Our programmes create a stage for every child - helping rewrite the story of who gels to take part, and who gels lo thrive, in the arts. 'One of our students has become blind over the last coupl8 ofyears. Previously, he was a little isolated. Performing in the Festival has given him a newfound f8mily where he is Trol just accepted. bul valued 8nd c&lebraled as a vit81 and cherished m8mberof a company ofaclors. He loves performirtg. and his fellow cssl mgmbers love performing with him. Seeing how happy il makes him is qui18 easily my proudest moment in teaGhFng. His 6xperience is a further illustration how import8nt this Fesliv81 is in particular lo frhe development &nd wellbeing of ouryoung people., John Davies, TÈacher-Dire¢lor al Cenydd School in Caerphilly &Pl Annual Report 2024, Educ8tN PoIY Insliluls (Juty 20241 Cultural L8arning AllianGe Report Card 2025 (April 20251 Coram Shakespeare Schools Foundation 5
Trustees, réport Year to 31 March 2025 The need for our work (continu8d) 2. Building Wellbeing and Skills for Lrfe AI CSSF, we believe the arts are not a luxury- they are a vital parl of every child's education. Our programmes build skills that maller.. oracy, confidence, empathy, resilience and teamwork. Through performance and rehearsals, Children discover not just Shakespeare's words, bul their own volce, potential and a sense of wellbeing When a pupil steps on stage, they are taklng a creative risk. In doing so, they develop confidence and lasting self-belief.4 Teachers consistently report improvements in attendance. focus and classroom engagement. For children who are disengaged or at risk of exclusion, this kind of immersive, erealive experience can be a turning point a foule back into learning and corsneclion. 'A child with previous persislenl absence h88 now got 100% attendance for the currenl academic year as sh8 was given a main rol8 in the plèy- her confidence 8nd Sense of belonging has greatly increas6d.' Kalte Mccafftey, Teacher-Directoi at Sacred Heail Catholic Primary in Manchester Vve also prepare young people for the future. According lo the Skills Builder Partnership. higher levels of essential 5ki11s lik8 communication and collaboration lead to beller life salisfaclion, higher earnings, and a significantly lower likelihood of being NEET INot in Education, Employment or Trainingl5 The World Econotnic Forum consistently projects that creativity, curiosity, colkboration and resilience are skills that will be rrx)sl in demand by employers in the 2181 cenlury.S Our programmes help young people develop the skills the future demands. 3. Embeddlng CreatlviTty ITn Education Participation in drama and the wider ar15 doesn'tjusl support wellbeing and skills, it supports attainment, social mobility and Civic parlicipalion. It builds social capital, nurtures idenlily, and enables children to imagine beller futures- noljusl for themselves, bul for their communities. Yel in England, this kind Df learning is increasingly under threat. 41 % of schools no longer enter any students for Drama GCSE and in the past decade the number of performing arts teacheis in slate schools declined by 200B A narrowing curriculum and stretched resources have made il harder for schools to priorilise creativity- despite strong evidence of ils value. 'Arts in SGhools'. Fovndalions for the Future- Purposes, princlpl&$ 8nd practice,, Calouste Gulbonkian Foundation and A New Direclion120231 'Atts engagem8nl and sell-este8m In chiklren.. results from a propensity score matchlng 8n¥lysi5' Hei Wan Mak and Daisy Fancourt Iuniversity Cdleye Londonl, AnnaL% of the New York Academy of Sciences IApril 20191 Impact R8POrt 2024, Skllls Builder Part118rship 6 Tae Future of Jobs Report 2025. World Economic Forum 'Im8gyneNJtion- The Value ofculltsral Learnlng,. Cultural L8arnlng AlliantÈ120171 uIILEi41 L8aFning Alllance Report Caro 2025 (April 20251 Coram Shakespeare Schools Foundation 6
Trustees, report Year lo 31 March 2025 The need for our work (continued) 3. Embedding Creativlty In Educatlon [continued) We work alongside the brave" school leaders who are striving lo keep the arts alive. We provide the support they need.. through high-quality training, creative resources, and the looks to embed drama across the cuiriculum. We champion the role of the 8rts not as an add-on, bul as a core part of how children learn. grow and belong. 'Ono of our students does not communicate verbally, using a board to write down th8ir answers/ideas. She spoke during auditions and was 8llocat8d 8 speaking rol8 as one of thg walchmen. Shg spoke 2 lines loudly on stage, which was an am8zing achievementl, Emily Landells, Teacher-Director al Barbara Prieslman Academy in Sunderland Because when every child has the chance to shine, all the wortd really is their stage. Beneficiarigs of ourservices Participants across our programmes 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 lo inspire, thrill, challenge and empower. Across our programmes. 9.795 children from 397 schools took lo 58 stages, screens and rehearsal rooms acToss the country, We trained 301 leachets in our active and ambitious ¢realive pedagogy. Of our parlicipanls: 164 were primary sch(x)Is, 192 secondary schools and 41 were SEND or SEMH settings 37 % were mission priority schools 28Qh had more than 300kn of pupils eligible for free school meals Of the students who we worked with this year.. 946 childrèn were eligible for pupil premium., 906 children were eligible for free school meals., 91 S children with English as an Additional Language IEAL),, 864 children qualifying for SEN support, and 518 who had an EHCP in pla¢e', 47 looked after childien., 0 27 children with refugee s12tus Methodology & Improvenpents To evaluate our impact against our theory of change, we use a robust mixed-methods approach. combining large-scale participant surveys, data capture, and in-depth case studies. Our evaluation framework is underpinned by the Skills Buildei Universal Framework, and we are proud to hold Impact Organisation Level 3 status. All data 15 subject to detailed analysis, with our methodology and findings independently reviewed and validatèd by Coram's Impact and Evaluation team. 'Arts in S¢hook.' Foundations foi the Future- Purposes, prin¢iples and practice,, Calov5te Gulbenkian Foundatio and A New DireGtlon120231 10 Classified as a SGhool whose poslcode falls in deG11 1-3 on the Multiplé Index of Deprivation, exoludlng fee- paying Schooh. or provides a SEND. Allemative or ¢Aher$peclalisl provision Coram Shakespeare Schools Foundation 7
Trustees. report Year lo 31 March 2025 The need for our work (continued) For a full report, including case studies, see our separately published Impact Report al shakes eaieschools.or act Goal l.. To pmmote Ilf6 skllls, soci81 cohesion and ambition.. giving childron confiden, resili8nce, aspiration and teamwork skills, helping them to make frierp(Is, grow in 8mpathy and become the ciliz8ns ourS0ctY needs.. 0 99Yo of leachers said their students had exceeded their expeGlalions Q 100'/o of teachers told us their studen15 grew in confi.dence Q 100Q/o of teachers told us their students developed their teamwork skills Q 990h said that students, ability to empathise with one another increased,. and 0 98 /0 told us that they now have a stronger relationship with their students Goal 2.- Topromote eduGation8lattainmenl, especially in litgracy, literatu and the performing arts,. &ngaging children with Shakespeare in an active, experienfrial way and giving children and teachers th8 tools they need to do belterin the classroom Q 90Qkn of leachers say their students, academic attainment has improved 0 940/0 of teachers fell that their teaching had improved through participating in the project.. and Q 89OA told us that as a result of the festival their students are more enthusiastic about schwl and learning Goal 3.. To proVe a unlque cullural and cre81ive experience lo young people from disadvanlaggd b8ckgmunds,- giving chikjren Iho opportunity lo widen Iheircullural horizons.- Q 990% of teachers told us their sludellls had improved their creative skills., and Q 98¥0 felt that their pupils were more ambilious Achievements and pèrformance 2024125 This has been a year of momentum, consolidation and achievetnent across Coram Shakespeare Schools Foundation. During the year, close to 10,000 pupils from 400 primary, secondary and SEND sellings were given Ihe Ghance lo shine and develop their skills and confidence across our programmes. Shakespeare Schoo15 Theatre Festival Acioss the year, our annual Theatre Festival enabled 9.000 pupils from 348 schools across the UK to perform an abridged Shakespeare produciion on their local professional stage. The programme again ran across phases, with 122 celebratory performance evenings taking place in 58 partner Ihealres in front an audience of over 20,000 parents, gu2rdian8, paers, famity and friends. Coram Shakespeare Schools Foundation
Trustees. report Year lo 31 March 2025 Achievements and performan¢¢ 2024125 Icontinuedl Shakespeare Schools Thgatre Festival Iconlinuedl The Shakespeare Schools Festival journey begins as teachers select a play and access our extensive online resources lo prepare their production. All participating educators attend a full day of training, led by a CSSF-Irained actor or director. gaining practical tools and techniquès lo go from page lo stage. For leacheis in SEND settings, we offer an addilional Inclusive Practice Workshop, supporting tailored approaches for diverse learners. Rehearsals begin with games and exercises that bLJild teamwork. explore language, and shape the world of the play. Midway through the process, a CSSF theatre practitioner visits every school to deliver 2 dynamic Company Workshop, giving students a Chance to share their progress, and support each Teacher-Direclor with creative consultancy. The process culminates in Performance Day.. a technical and dress rehearsal followed by a livè performance in a professional theatre, alongside local schools and in front of a supportive community audien. 'A sludenl with anxiety Bt8fed that he was not going lo do th& pl8y. He agreed to go along lo Ihe rehearsals because the team were relying on him, but he would NOTbe gelling on the stage. His confidenGe grew and in the end, he performed in fmnt ofan audience. We have had manydiscussions 2bouthim feeling fearanddoing it anyway. He agrees this will help him enormou51y in the futu when he wants fro run away from things Ihat make 17im anxious., Laura Fleckney. Teacher-Direclor al Gislingham Primary SchDoI in Suffolk Shakespeare remains a vital pail ol the UK'S cultural legacy, and Coram Shakespeare Schools Foundation sets itself apail through an active, immersive approach to his woiks. Rather than reading the plays passively, young people explore language. character and sloTy through peTformance, supported by a cfealive, experimental environment for l)oth students and teachers. OLtr Ihree-year creative initiative, the Season of Roimagining. Continu to shape the Theatre Feslival this year. Through workshops held in eh1 hub cities, teachers were trained in our creative pedagogy and rehearsal room techniques, with opportunities lo shale practice and adapt approaches lor their own c18ssrooms. These workshops were developed in consultation with notable directors Danielle Kassaiaté and Adele Thomas, alongside a focus group of returning Teacher-Directors, ensuring the programme remains collaborative, rigorous, and artistically ambitious. Creativo routes into highgr education We Continued our collaboratlon with Magdalen College Oxford, supporting schools from priority areas Greater Nottingham and Sheffi'eld lo stage Shakespeare productions al the college. We partnered with Leicester Cutve once more to support Leicester City Virtual School pupils with a production of Com&dy of Errots. The four companies experienced a lasle of life al the College,. a three-day residential which included lectures and seminars with University academics. Coram Shakespeare Schools Foundation
Trustees, rèport Yearlo 31 March 2025 Achievements and pèrformance 2024125 Iconlinued) CreatiTve routes into hlghw educatiTOn (continuedj "For hvo of our students, fhey have not had. and may nol have gone on to have, any experienc& of university life or even visil a city like Oxford. This experience has massively opened their 8yes to a whole different wortd.. Cath Agius. Teacher-Diiector at Bramcole College In Nollingham Intemational Shakespeare on FITIM Our Film Festival expanded, with schools from eight nations joining the challenge. Young people and teachers from China, Hungary, Belgium, Spain, Norway, the UAE, USA and the United Kingdom created their stories from Shakespeare. Pupi15 the movie-making process from $1grl lo finish - plotts"ng. shooting and editing theii own thrilling short films. "A child arrived at our school frhis year with less English than their peers. His confidenco and oracy skills have grown so n7uch through project.. Matthew Driscoll, Tea¢her-Director at BASIS International School in GLEangzhou, China Film Director Workshops covered all the how-to's. of fi'lmmaking.. from shooting and running 8 set to lighting and sound. through lo editing and adding special effects, wilh a ma51erclass from academy-award winning director Phyllida Lloyd. We hosted a 'Best of the Fest, scieening at Coiam Campus, showcasing moments from all submilled films. The highlights film, hosted by CSSF Patron Alfred Enoch Can be watched on our dedicated International Shakes eare Schools Film F stival website. rransformatlvo Workshop experlences OL¢r standalone workshops had their strongest year lo dale. We delivered 28 workshops reaching 987 pupils across key stages, from Hebden Bridge lo Hertfordshire, Lewisham lo Liverpool, Telford to Twickenham. This comprised a variety of KS213 sessions and GCSE workshops with our'Play in a Day, and Slorylime sessions continuing to be popular forschools who want lo immerse their pupils in Shakespeare's plays. Our partnership wilh the Criterion Theatre expanded, allowing us lo reach more young people with high-qualily leaining experiences in the Wesl End. bringing theatre lo lrfe. This innovative partnership, addressing a slowing pipeline of talent in technical thealTe, pul 140 young people trom London backstage and 'in the box. to workshop, design, programme and operate the technical elements of a production. "The students loved ill So many of Ihem had never cc)nsidered lighting, sound, sloggcrafl. They learnt loads and il rgally opeiied their eyes. I was so iffipressed with how well resourced and planned the workshop was. The kids were 8ble fro mak& any id8a or creglion a reality- what sn am8zlng expgriencel. Anna Hughes, teacher al William Ellis School in Camden Coram Shakespeare Schools Foundation 10
Trustees. report Year to 31 March 2025 Achievements and performance 2024125 Icontinuedl Advancing practice and capBcity We up8killed over 200 educators through presentations, conferences including a masterclass al the Drama & Theatre Expo, as well as tailored CPD content foi teaching staff like our work with Lancashire Grid for Learning. Each session helped to build knowledge of a particular play, communication skills, and team building and the conlenl and approach wntinues lo be validated by the Skills Builder Partnership. Looklng to the future This year, we added our voice lo calls for change, submilling evidence lo the DepaTlrnent for Education's Curriculum and Assessment Review. We championed drama as a foundational subject and supported the case for an Arts Premium in schools. While we await the outcome, our commitment lo the transformative power of arts participation remains unwavering. We believe that every child should perform in a play before they leave school. Il's a simple, achrevable commilmenl- and one that can unlock confidence, character and pos5ibilily. This year we took major steps towards the fulÈJre with the development of our 2030 strategy, All Ihe World's Our Stage- a bold five-year vision that sets the sc&ne for our 25th anniversary in 2025126. 11 will sel out our ambition lo reach 25,000 young people over the next 25 months, extend our work in unolerserved communilies, and invest in the teachers who make il all possible. In June 2025 we launched the slralegy and celebrated our Sllver Jubilee al a Parliamentary Reception hosted by Chair of the Shakespeare APPG, Manuela Perteghella MP. PTincTpal risks and uncertalnties The charity maintains an up to dale Risk Register. The register is discussed and reviewed al monthly Management Meetings and circulated to Trustees prior to each Board meeting. The key risk in 2024125 was the uncertainty surrounding the education and arts sectors, performance and priorities in the face of financial pressures created by national and local funding cuts and a cost of living crisis. )Ne await the results of the ongoing Curriculum and As5es8ment Review led by the Department for Education, recognising ils potential implications for the future of creative and cultural learning. The charity's work has slabilised as changes to operational models balanced the challenging financial climate for schools and theatres. Activity on the flagship annual Theatre Festival maintained al previous year levels. After a period of strategic review with stakeholders across the second half of 2024. Trustèes have decided to plan for a consolidated schools participation levels in core progiammes for the next 5 years, supporting with new work targeting young people facing structural di5advanlage. Costs will continue to be closely managed as our aspirations and operations develop. Coram Shakespeare Schools FoLfndalion 11
Trustees. report Year lo 31 March 2025 Princlpal risks and uncertaintios Iconlinuedl In light of inflation. rising costs and the effects of National Insurance increases, we must continue to streamline opeiations antj ensure our offer remains relevant and compelling for all schools. We musl also adapt lo changing pressures in the classmom.. the growing needs of SEND learners, the impacts ofAI, 2nd issues around pupil wellbeing and teachèr relenlion. Following a period of consolidation In 2024125, our StratlC priority is lo increase access through funded provision in underserved areas, adapting delivery to meet the needs of carè- experienced and adopted children. We will ensure schools can access our programmes afft)Tdably. support teachers lo embed creative learning, and focus our resources where impact is greatest. Digital delivery will remain key to scale, equity, and national reach. With the support of Coram and the central fundraising team, we will pursue opportunities to extend our reach, diversify our delivery. and engage new beneficiary groups. This will include.. • Securing fvjlly funded programmes that evolve our pedagogy. complement core activity, and expancl access across new geographies, delivery models, and priority cohorts., Strengthening capacity across Sales and Marketing. with a strategic locus on partnerships with local authorities, Mulli Academy Trusts (MATS), and influenbal sector stakeholders lo support programme growth., + Demonstrating parlicipanl outcomes in essential skills and social and emotional wellbeing through robust evaluation, research, consultancy, and maintained represenlatiorb On Coram's Mission Priority programme. Flnanclal review In the year ending 31 March 2025, CSSF had income of £995,69812024 £1,090,2131 and expenditure of £1,028,383 {2024- £1,101.6661, resulting in a deficit of £32,68512024- def1t of £11,453}. This represents a 9¥0 decrease in income and a 7°A decrease in expenditure. The principal funding sources for 2024125 were.. income from s¢hools taking parl in our programmes., and • philanthropic donations from charitable trusts & foundations and individuals. More delalls are included in the Fundraising section below. CSSF ha8 again materially benefitted from Theatre Tax Relief, a corporation tax relief aimed at helping the creative industries. The credit recognised as income in the year ended 31 March 2025 amounted lo £175,54512024 £241,354). See Note 18 to the financial 51alemenls for furthe¥ details. Coram ShakespeaT8 Schools Foundation 12
Trustees, report Year to 31 March 2025 Reserves policy and going concern CSSF aitn5 to hold a reserve of three months, budgeted expènditure as ils general reserve. This will., * Allow us to provide a level of working capital that protects the continuity of the charity's core work., + Bridge cash flow challenges resulting from delays in receiving promised income, slow paytnent by customers or bad debt., Allow continued operation in the event of aloss of a major source of funding while a new source of income is securecl 01 while costs are Cul in a considered manner., Provide a buffer in the event of making an Dperalional loss in a given financial year Ilhis use should be exceptional rather than plannedl,. and Allow investment in specific projects or opportLfnities which will increase our operational effecliveness andlor sustainability General reserves, currently sland al a surplus of £297,981 {2024'. £330,666) compared to a minimum target of £306,345. Trustees recognise the need lo rèview reserves each year to ensure an adequate level of reserves is maintained. The Trustees believe that, given the current volatility in the sector, the current level of resetves is satisfactory. This policy is reviewed annually alongside Ihe production of the annual a¢Unts in order to: + Ensure that the reserves held are equal to or greater than the minimum level identified.. • Check that the assumptions underlying the policy are still valid and the minimum amount is still sufficient lor ils purpose.. and + Agree any action which may be required to ensure adequate reserves are maintained, General reserves are marginally below the largel level as set out in the reseives policy. However, the Trustees consider that there are no material uncertainties affecting the charity's ability to continue and are able to conclude that it has reasOll8ble expectation that il will be a going concern fr)r the foreseeable futLtre, deemed to be al least 12 months from approving these accounts. Plans lol the futur¢ The main focus for the Trustees and Executive Team in 2024125 has been to establish a sustainable, diversified pathway for the charity. Whilst positive steps have been made against this goal. il remains clear that both the education and arts sectors still face considerable uncertainties and volatility in parl due lo funding challenges, inflation and the national cost of living crisis. Coram Shakespeare Schools Foundation 13
Trustees. report YeaT to 31 March 2025 Plans for the future leonlinuedl In this conlexl, we believe that schools, teachers, and pupils will benefit from the continued diversification of sellings and delivery methods and we aim lo evolve our multi-programme model and seek new partners to ensure our active pedagogy reaches those who stand lo benelil the most. Celebratlng 25 Years of Shakespeare Schools Festlval At the lime of writing the charity is beginning lo mark celebrations of ils 25th Anniversary a qualler of a century working with schools and Ihealres to achieve our mission for young people. From midsummer to twelfth night, we will celebrate with activities, events and a national campaign amplifying the voice ofour alumni and demon51taling the impact ofa quarter ntury of our programmes. Launch 'AII the World's Our Stage, Drawing on consullalion with young people, educators, supporters. and partners, end shaped by the urgent needs in education today, All the World's Our Stage will outline our strategic vision for the next 5 years and affirms our unwavering commitment-. Every young person, whatever their background, deserves access lo creative oppoilunilies. Development of targeted and standalone projects Working closely with the Coram fundiaising team. following successful pilots with Virtual Schools and Coram Ambitious for Adoption, we will grow our programmes tailored for young people who face sliuclural disadvantage including care-experienced chilclren, pupils in Virtual Schools, learners with special educational needs and disabilities {SEND), and those from underserved cotnmunilies. Supporting teachers to embed creativity narrow curriculum and emphasis on EBacc subjects has resulted in scaled back provislon for drama and expressive arts subjects al school. Through dedicateLI professional development OpportnitIeS including events, neOrking, partnership and onsultancy-we will support educators lo embed creativity in their classrooms and boost the validity and visibility of creativity al school. Investment and extenslon of existing partnership5 Working with colleagues lo extend leach and resources including Cambridge Schools Shakespeare {paTI of Cambrtdge University Press & Asses5menll, Skills Builder Partnership, Criterion Theatre, Shakespeare North Playhouse, Cieative LIK, GLtildhall Schools of Music and Drama. Splaal Photo, Arts Award, Tripllco Plus. structure, governance and management Coram Shakespeare Schools Foundation (formerly Shakespeare Schools Foundalionl was incorporated on 23 November 2015 and registered with the Charity Commission in December 2015. The oiganisalion is a charitable company limited by guarantee under a memorandum of association which established the objects and powers of the eharilable company and is govemed under its Ailicles of As50Gialion. Coram Shakespeare Schools Foundation 14
Trustee5' report Year to 31 March 2025 Structure, governance and management Icontinuedl On 1 April 2020 Shakespeare Schools Foundation amalgamated with The Thomas Coram Foundation for Children. a registered charity {Charity Registration Number 3122781, known as Coiam. From this date Coram became the sole member ofthe CSSF and CSSF became direct subsidiary of Coram. The company's name from this date changed to Coram Shakespeare Schools Foundation. Since becoming parl ol the Coram Group, CSSF now operates in line with the group approach with Trustees now participating in sub-commillees lo the parent Trustee board including membèrship of the Audit Committee by the CSSF Treasurer. As a result of CSSF becoming parl of the Coram Group, all support functlDns are provided by Coram Iwilh costs recharg8d lo CSSF} and CSSF operates lo group-wide policies and prOdUles. Key management personnel Key management personnel are defined as the Trustees, the Coram Group CEO and the Head of CSSF. Details of the remuneration of key management personnel and other information on staff Costs is sel out in Note 6 to the financial slalemenls. The remuneration of key management personnel is based on an internal assessment of thè scope of the individual role and an individual'5 performance within that role. Internal benchmarking is conducted to ensure that remuneration levels within the Coram Group are consistent for the level of responsibilities. Remuneration is agreed by the Coram Group Directors consisting of the Chief Executive. Chief Finance Officer and the Director of People and Compliance. None of the Trustees received any remuneration in connection with their duties as Trustees or key management of the charity. Recrultment and tralnlng of trustees Trustee5 are appointed via the Coram Nominations Committee for a four-year term which is renewable for one further term. The Chair 15 appointed by the Coram board from amongst their number. All new Trustees undergo an induction programme which incorporates a history of the charity, review of ils work including the current challenges faced by the charity, its governance structure. and their individual role5 and responsibilities and have access to development training, Coram Shak8speaFe Schools Foundation 15
Trustees, report Yearto 31 March 2025 Structurej governance and managemont Iconlinuedl Trustees are also directors for thè purposes of company law. The Trustees who served durtng the period and up lo the dale on which this report was approved were as follows.. Trustee AppDintedlResigned Dr James Dray (Chair) Guy Davles (Vice Chaif & Treasurer) Suba D8S Dr Glenda Jones Hester Lockley Jill Pay Jeff Tijssen Vicki Wienand Resigned July 2D25 Equality, Diversity and Inclusion We realise that being an organisalion that is equal, diverse and incluslve is something lo constantly woik towards. The commitment to diversity was a strong Gharaclerislic in the results of the Investors in People reaccreditalion, which was awarded al Gold Award standard in 2023, recognising the high level of engagement of staff with strategy and the oiganisational values, and ils leadership. EDI remains a key piiority in our development. Fundraising CSSF is parl 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 lo the Fundraising Code of Practice. OL¢r Privacy Policy can be found on our website at www.coram.or rivac There were no complaints made lo CSSF in the year. If you have any comments or concern, please contact fundraising@coiam.org.uk. statement of Trustees, responsibilities The Trustees (who are also directors of Coram Shakespeare Schools Foundation for the purposes of company lawl are responsible lor preparing the Trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Tfustees to prepare firFancial slalements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that pertod. In prepar¢ng these financial slalemenls. the Trustees are required lo.. Coram Shakespeare Schools FoLJndalion 16
Trustees. report Year lo 31 March 2025 statement of Trustees. responsTbilitSes Iconlinuedl select suitable accounting policies and then apply them consistently. observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charib'es preparing their accounts in accordance with the Financial Reporting Sland8rd applicable lo the United Kingdom and Republic of Ireland (FRS 1021., + make judgements and estimates that are reasonable and prudent.. * stalg whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial slalements.. and + prepare the th'nancial statements on the going conrn basss unless it is inappropriate lo presume that the charity will continue in operatlon. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime the fir¢ancial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable cotnpany and hence for taking reasonable steps for the prevention and detection of fr8ud and other irregularities. Each of the Tluslees confirms that.. so far as the Trustee is aware, there is no relevant audit informatlDn of which the charitable company's auditor is unaware., and the Trustee has taken all the steps that helshe ought to have taken as a Trustee in order to make himselflherself aware of any relevant audit information and to establish that the charilable company's auditor is aware of that inlormation. The Trustees afe responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the Uniled Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This confirm21ion is given and 5houlé be interpreted in awordance with the provisions of s418 of the Companies Act 2006. The Trustees, Annual Report was approved by the Trustees on and signed on their behalf by-. Dr James Dray Chair Dale.'15 September 2025 Coram Shakespeare Schools Foundation 17
Independpnt auditor's report 31 March 2025 Independent auditoy's report to the membor of Coram Shakespeare Schools Foundation Opinion We have audited the financial statement8 of Coram Shakespeare Schools Foundation (the 'charitable company'l for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accountiny policies and the notes lo the financial slatemenls. The financial reporting framework that has been applied in their preparation is applicable law and United KingdorN 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 slalements-. give a true and fair vlew of the slate of the charitable Company's affairs as al 31 March 2025 and of its income and expenditure for the year then ended., + have been properly prepared in accordance with United Kingdom Generally Accepted A¢¢ounling Pra¢tice'. and • have been prepaTed in accordance with the requirements of the Comp8nies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the auditor's iesponsibilities for the audit of the financial statements section of our report. We are independer¢l of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fltlfilled 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. Concluslons relating to going concern In auditing the financial slalemenls, 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 n7aterial uncertainties relating to events or conditions that. individually or collecb'vely, may cast 5ignilicanl doubl on the charitable company's ability lo continue as a going concern for a period of at least twelve months from when the financial slalemenls are aulhorised for issue. Our fesponsibililies and the responsibilities of the Tiuslees with respect lo going concern are described in Ihe relevant sections of this report. Coram Shakespeare Schools Foundation 18
Independent auditor's report 31 March 2025 other infom)ation The othe¥ information comprises the infoifflalion 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 Slalements. Our opinion on the financial statements does not cover the other information and, except to the exlersl otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether Ihe 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 lo 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 malerial misslatemenl of Ihis other information. we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. • the information given in the Trustees, report, which is also the directors. report for the purposes of company law, for the financial year for which the financial stslemenls are prepared is consistent with the financial slatemenls., and • the Trustees, repoTI, which is also the directors, report for the purposes of company law, has been prepared in accordance with applicable legal requirements. Mattors on which we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its envlronmenl obtained in the course of the audit. we havè not identtlied material misslalemenls in the Trustees, report. We have nothing to report in respect of the following mallers in relalion lo whlch the Companies Act 2006 requires us to report to you if, in oui opinion.. adequate a¢¢ounling records have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or + the finaneial statements are not in agreement with the accounting records and returns.. or certain disclosures of Trustees, remuneration specified by law are not made., or we have not fftceived all the information and explanations we req¢Jire for our auditor., or • the Trustees were not entitled lo prepare the firkancial statèments in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a stfalegic report. Coram Shakespeare Schools Foundation 19
Independent auditor's report 31 March 2025 Responsibilities of Trustees As explained more lully in the slalemenl of Tru51ees' responsibilities contained within the Trustees, report, the Trustees (who are also the directors of the charitable company for the purposes ofcompany lawl are responsible for the preparation of the financial slatemenls 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 preparaliot) of financial statements that are free from material misstatement. whether due lo fraud or error. In preparing the financial slalements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, mallers related lo going Concern and using the going concern basis of accounting unless the Trustees either intend to liquidale the charitable comp8ny or lo ase operations, or have no realistic alternative but to do so. Auditor's re5ponsibi1Sties for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the tinancial slalemenls as a whole are free from maleiial misslatemenl, whether due lo fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not 8 guarantee that an audit conducted in accordance with ISAS IUK) will always deteGI a material misslatemenl when il exists. Misstalemenls 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 tsken on the basls of these financial slalements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedur&s in line with our responsibilities, outlined above. lo deleGt material misstatements in respect of irregularities, inclLJding fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below- Our approach to identifying and assessing the ¥isks of Tnalerial misstalemenl in respect of ITregularilies, including fraud and non-compli8nce with laws and regulations, was as follows.. the engagement team collectively had the appropriate competence, capabililies and skills lo identify or recognise non4ompliance with applicable laws and regulations., we obtalned an understanding ofthe legal and regulatory frameworks that are applicable lo the charitable company and determined that the most significant frameworks which are directly relevant to specifsc asserbons in the finan¢ial statements are those that relate to the reporting Iramework (Slalement of Recommended Practice.. Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 10211, Charities Act 2011, the Companies Act 2006, and those that relate lo safeguarding.. and we assessed the exlenl Of compliance with the laws and regulations identified above through making enquirtes of management and inspecting legal correspondence,. and identified laws and regulations were communlcated within the audit team regularty and the team remained alert to instances of non<ompliance throughout the audit. Coram Shakespeare Schools Foundation 20
Independent audito¥'s report 31 March 2025 Auditor'5 responslbllities for the audit of the financial statements Iconlinuedl We assessed the susceplibilily of the charitable company's financial slalemenls lo material misslalemenl, including obtaining an understanding ol how fraud mi9hl occur, by.. making enquiries of key management as lo where they considered there was susceptibility lo fraud, thei¥ knowledge of actual, suspected and alleged fraud., and considering the internal controls in place to rniligate iisks of fiaud and non-compliance with laws and regulations. To address the risk ol fraud through management bias and override of controls, we: perfortned analytical procedures to identify any unusual or unexp2cled relationships- reviewed journal entries lo identify unusual transactions., • tested the aulhorisation of expenditure, ensuring expenditure was approved in line with the charitablè company's financial procedures., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias., and investigated the rationale behind slgnlfic8nt or Ltnusual transartions, if any. In response lo the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited lo.. * agreeing financial Statement disclosures to underfying supporting documentation., + reviewing the minutes of meetings of those charged with governance., and enquiring of management as lo actual and potential litigation and claims. There are inherent limilations in our audit procedures described above. The more removed that laws and regulations are fiom financial Iransaclions, the less likely it is th21 we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compllance with laws and regulations to enquiry of the Tru51ee5 and other management and the inspeGtion of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be hafder lo delect 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.uklauditorsresponsibililies. This description forms parl of our auditor's report. Coram Shakespeare Schools Foundation 21
Independent auditor's rgport 31 March 2025 Use of our report This report is made solely to the charitable company's members, as a bocly, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those matters we are required lo slate lo them in an auditor's report and for no other purpose. To the fullest exlenl 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, Gumayel Miah (Senior Slalutory Audilorl For and on behalf of Buzzacott Audit LLP, Stalulory Auditor 130 Wood Street London EC2V 6DL Date.. l October 2025 Coram Shakespeare Schools Foundation 22
Statement of financial activltles (including Income and expenditure account) Year to 31 March 2025 Total funds 2025 Total funds 2024 Unrestricted Restricted funds funds Notes In¢ome from.. Donalions, gr8nls, and legacies Chaiitable activities Advancing the 8rts education of childrèn Other tfdding activities Bank inleresl Olher sour¢es Theatre Tax Relief Other incorne Total income 129.591 30.500 160,091 144,567 639,468 18,061 2,533 639,468 18,061 2,533 865,601 38,387 18 175,545 175,545 241,354 304 995,698 1,090,213 965,198 30,500 Exponditure on: Raising funds Charitable aclivilies.. Advancing the arls education ol ¢hikJren Total expenditure 44.912 44,912 36,022 952,971 997,883 30,500 30,500 983.471 1065,644 1,028,383 1.101,666 Net expondlture and movemènt In funds 132,6851 132,6851 111.4531 Reconciliation of funds= Fttnds brought fotward at 1 April 2024 330,666 330,666 342.119 Funds carrled fOard at 31 March 2025 297,981 297,981 330,666 All of the above results are derived frotn continuing activities during the above financial periods. The charity has no other recognised gains or losses other than those ststed above and therefore no separate statement of total recognised gains and losses has been presented. A lull comparative slalement of financial activities in included in the appendix lo these financial statements. Coram Shakespeare Schools Foundation 23
Balance sheet 31 March 2025 2025 2025 2024 2024 Notes Fixed assets Intangible fixed assets Tangible fixed assets Current assets Stock Debtors Cash al bank and in hand to 5.071 611,245 148,087 764,403 2,758 443,452 198,478 644,688 Liabilities Creditors.. amounts falling duo wlthln one year 12 {466,422} 1314,0221 Net current assets 297,981 330.665 Total net assets 297,981 330,666 Thè funds of the charlty Reslricled funds Unrestricted funds General funds 13 297,981 297,981 330.666 330,666 Approved by the Trustees of Coram Shakespeare Schools Foundation, Company Registration NumberfF3883201 (England and Wales), and signed on their behalf by.. Dr James Dray Truste8 Dale.. 15 September 2025 Coram Shakespeare Schools Foundation 24
Statement of cash flows Year lo 31 March 2025 2025 2024 Note Cash flows from operating activities Nèt cash (used in) provided by operating activities 152,9241 152,9241 67,464 67,464 Cash flows from Investing actlvities Bank intèrest received Nèt cash provided by investlng activitie 2,533 2.533 Change in cash and cash equival¥nts In the year 150,3911 67.464 Cash and Cash equivalents at 1 April 2024 198.478 131,014 Cash and cash equivalents at 31 March 2025 148,087 198,478 A Reconclllallon of not expenditure to net cash flows from operating actiVIeS 2025 2024 Nee expenditure for the year (as per the Statement of flnancial activltles) Adjustments for.. Bank ir)lerest received Increase in stocks Increase in debtors Increase in creditors Net cash lused inl provlded by operatlng aclivlties 132.6851 111,4531 12,533} 12.313 1167,7931 152,400 152,9241 11,5601 {64,é121 145,089 67,464 B Analysis of cash and cash equivalents 2025 2024 Total cash and cash equivalents.. Cash at bank arid in hand 148.087 198.478 C Analysis of changes in net debt Atfj April 2024 Other non- cash ch8nges At31 March 2025 Cash flows Total cash and cash equlvalents= Cash at bank and in hand 198,478 150,3911 148,087 Coram Shakespeare Schools Foundation 25
Principal accounting policies 31 March 2025 The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below. Basls of preparatlon These financial statements have been prepared for the year to 31 March 2025 with comparative information provided in respect lo the yeai 31 March 2024. The financial statements have been prepared under the historical cost convention with items Te¢ognised al cost or t¥ansaclK)n value unless otherwise slated in the relevant accounting policies below or the notes to these financial stalementS. The financial statements have been prepared in accordance with Accounting and Reporling by Charities-. Statement of Recommended Practice applicable lo charities preparing their financial slalements in accordance with the Financial Reporlittg Standard applicable in the United Kingdom and Republic of Iieland (Charilies SORP FRS 1021, the Financial Reporting standard applicable in the UK and Republic of Iieland IFRS 1021, the Companies Act 2006 and the Chariliès Act 2011. The charity eonstitutes a public benefit entity as defined by FRS 102. The financial 51alemen15 are presented in sterling and are rounded to the nearest pound. Critical accounting estimates and areas of judgement Preparation Df the financial statements iequires the Trustees lo make significantjudgements and estimates. The key items in the financial slalements where these judgements and estimates have been made include., • assessing the appropriateness of any provision needed against Iloubtful and bad debts,. and • estimating future income and expenditure flows for the purposes of assessing going oncern (see below). Assessment of golng concern The Trustees have assessed whether the use of the going concein assumption is appropriate in preparing these financial stalemenls. The Trustees have made this assessment in respect to a period of al least one yea¥ from the dale of approval of these financial statements. The Trustee5 of the charity have concluded that there are no material uncertainties related lo events or condition5 that may cast signifant doubt on the ability of the charity lo continue as a going concern. The Trustees ale of the opinion that the charity will have sufficient resources to tneet ils 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 Shakespeare Schools Foundation with ils own and those of other group members. Coram Shakespeare Schools Foundation 26
Principal accounting policies 31 March 2025 Income recognitlon Income is recognised in the period in which the charity has entitlement lo the income and the amount can be measured reliably and il is probable that the income will be received. Income 15 deferred only when the charity has lo fulfil conditlons before becoming entitled lo il or where the donor Dr funder has specifi'ed that the income is lo be expended in a fuluie accounting period. Income comprises donations and grants. theatrical income and registration fees, Income from trading activitie5 and other sundry income. Grants and donations 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 awrued for where the receipt is considered probable. In the evènt that a donation or grant is subject lo conditions that require a level of performance before the charity 15 entitled lo the funds, the income is deferied and not recognised until either those conditions are fully mel. or the fulfilrnent of those condilioNs is wholly within the control of the charity and it is probable that those conditions will be fulfi15ed in the repoiling period. Theatrical income and registration fees for the festival are recognised as the service is delivered. Income from trading activities and other sundry income is recognised lo the extent that it is probable that the economic benefits will flow lo the charity and the revenue can be measured reliably. 11 is measured at fair value of the conslderalion received or receivable, excluding discounts, rebates. value added tax and other sales taxes. Interest on fvnds 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. Voluntegr$ and donated services and facllltles The value of services provided by volunteers is not incorporated into these financial statements. Where services are provided lo the charity as a donation that would normally be purchased fmm suppliers. this contribution is includ8d in the fi'nancial ststemenls as both income and expenditure at ils estimated fair value based on the value of the contribution to the charity. There were no such donations during the year. Expenditure recognition Liabilities are recognised as expenditure as Soon as there is a legal or conslnjclive obligation committing the charity lo make a payment lo a third party, it is probable that a transfer of economic benefits will be r8quired in settlement and the amount of the obligation can be measured reliably. Coram Shakespeare Schools Foundation 27
Principal accounting pollcigs 31 March 2025 Expendlture recognilion Icontinuedl Expenditure is classified under the ftsllowing activity headings.. Costs ol raising funds relate lo the costs incurred by the charity in inducing third parties lo make voluntary contributions to it, as well as the cost ol any activities with a fltndraising purpose. Expenditure on charitable activities includes the costs of promoting and delivering the Festival, undertaken to further the PLtrposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the acts'vity for which the expenditure was incurred. Allocation of support and governance costs Support costs represent indirect charitable expenditure. In ordei to carry out the primary purposes of the charity it is necessary lo provide support in the fom of personnel development, financial procedures, provision of ottice services and equipment and a suitable woiking environmenL Governance costs comprise the costs involving the public accounlabilily of the charity lincluding audit costs) and costs in respect lo its compliance with regulats'on and good pracb'ce. Support costs and governance costs are apportioned using percentages based on the direct expenditure incurred on the activities of the charity. 7ere information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with the p(Jblicity are allocated lo charitable expenditure. Vvhere such information about the aims, objectives and projects of the charity is also provided lo potential donors, activity costs are apportioned between fijndraising and charitable aclivllies on the basis of area of literature occupied by each activity. Operating leases Rental charges are charged on a straight line basis over the teim of Ihe lease. Tangible fixed assets All assets costing more than £2,500 and with an expected useful life exceeding one year are capitalised Tangible fixed assets are staled at cost less depreciation. Depreciation is provided at rates calculated lo write off the cost of the assets, less their estimated residual value, over their expected useful lives on the following bases.. Fixtures and fillings 250h on a straight line basis Computei equipmonl 25D/o on a straight line basis Coram Shakespeare Schools Foundation 28
Principal accounting policies 31 hAarch 2025 Intangible fixed assets Intangible fixed assets comprise internally developed scripts. Internally developed intangible assets are recognised only if all of the following conditions are mel.. an asset is created that can be separately identified.. il is probable that the asset created will generate future economic benefits., and • the development c051 of the asset can be measured reliably. The intangible assets are slated at cost les5 accumulated amorlisation. Amoilisalion is chaiged over a five-year period on a straighl-line basis, from the dale the asset is available for use. Stocks Slwks are slated at the lower ofcost and nel 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 Gan 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 01 res81e, are recognlsed at fair value which is the amount the charity wouEd have been willing to pay for the items on the open market. Debtors Dèbtors are recognised at their selllement amount, les5 any provision for non-recoverability. Prepayments are valued al the amount prepaid. They have been discounted to the present valuè of the future cash receipt where such discounting is material. Cash al hank and in hand and short term deposit8 Cash al 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 bul 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 Obligat0 al the balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the selllemenl can be estimated reliably. Creditors are recognised at the amount the chaiity anlicipales il will pay lo settle the debt. They have been discounted lo the present value of the future cash payment where such discounting is material. Coram Shakespeare Schools Foundatiorn 29
Principal accountlng policies 31 March 2025 Fund accountlng Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is charged to Ihe fund. together with a fair allocation of management arbd support costs. Unrestricted funds are donations and other income received or generated fo¥ the objects of the charity wilhoul fuilher specified purpose and are available as general funds. Deslgnaled funds comprise monies sel aside out of unrestricted general funds for specific future purposes or projects. Penslon5 CorTtributions to employees, personal pension plans and defined contribution pension schemes are Charged to the statement of financi812ttlivilies when they are payable to the plan or scheme. The charity has no liability beyond making ils contributions and paying across the dedu¢lions for the employees, conlribulions. Coram Shakespeare Schools Foundation 30
Notes to the flnancial ststements Year to 31 March 2025 Income from donations. grants, and legacies Total funds 2025 Total fund5 2024 Unreslricled Reslrtcted fund5 funds Indivldual donatlons 103,591 103,591 103,079 Corporate donatlons 12,233 Trusts Duchy of Lanraslef benevolent Fund Mari8 Bjomson Memorial Fund Catherine Cookson Trust 29th May 1961 Charlotle Aitkin Trust Gowling charitable Irusl Victoria ivood Found*lon Stevenson trust Other small trust5 4,000 5,000 1.000 5,000 5,000 5,000 5.000 20,000 500 5,ODO 20,000 500 2,500 20,000 6,000 20,000 6,000 11,755 129,591 30,500 160,091 144,567 Income from charitable actlvlties: advanclng the arts education of children Total funds 2025 Total funds 2024 Unrestricted Restricted funds funds Theatrieal income Registration lees Anonymous 157,880 481,588 157,880 481,588 186,304 47g,297 20,000 665,601 e39,468 639.46B Income from other trading activities Total funds 2025 Total funds 2Q124 Urkreslrited Resliicted funds funds Merchandise Workshops and events 4,753 13,308 18,061 4.Y53 13,308 18,061 5,542 32,845 38,387 Coram Shakespeare Schools FoundalDn 31
Notes to the financial statements Year to 31 March 2025 4 Expendlturè Charitable Advan¢ing the arts edu¢ation Govern&nc6 of children t0$15 R8islng rund5 Support Costs Total 2025 Total 2024 Staff costs (notè 61 Consvltsnls Staff travel and expenses Festival promotion and evaluation Festival programme and merchandis The?1 hire and p8rforman osls Staff Genlral cost8 Fundraising ¢05t5 Premises Other office costs Audit & Govemance 589,038 589,038 2.058 42,462 10,578 605,244 8,910 40,854 22.131 2,058 42.462 10,578 824 824 1,539 202,358 198,832 196.832 38,350 244 110,004 14B.354 147,746 244 1,836 10.224 9.719 16,594 49.404 11.175 12,125 133.505 1,028,383 1,lOt,666 10,224 11.219 5.375 f1.I75 11,175 38,$94 845,109 Support costs Governance costs 5,830 488 127,675 10,887 1133,5051 44,912 983,471 1,02B,383 1,101,865 5 Net expendlture and net movement in funds This is slated after charging.. Total 2025 Total 2024 Depreciation and amort15ation Operating lease rent81s' Property Olttei Staff costs lllole 61 Auditor8, r2muneration Slalulory audit Olh¢r sotvices- laxalion advice 10,224 9.719 153 805.244 589,038 8.175 3,000 10.125 2,000 6 Staff costs Total funds 2025 Tot81 funds 2024 Sala¥ies and wages Social socurily costs Pension costs 407,256 38,232 11,191 456,679 132,359 589,038 399,489 36,604 10,738 466,831 158,413 605,244 Contractors Coram Shakespeare Schools Foundation 32
Notes to the finan¢ial statemgnts Year lo 31 March 2025 6 Staff costs Icontinuedl The average monthly number of employees during the year was as follows.. 2025 Number 2024 Number Festival and creativ8 Support and governance 13.8 13.9 14.8 14.9 There were no employees who eamed £60.000 or mDre (including taxable benefits bul excluding 8mployer pension costs and employer's national insurance) during the year12024 no employees Key management personnel are defined as the Trustees and one rnember of the senior management team. The remuneration of key management personnel is based on an internal assessment of the scope of the individual role and an individLtal's performance within that role. Internal benchmaiking is conducted to ensure that remuneration levels within the Coram Group are consistent for the level of responsibilities. Remuneration is agreed by the Coram Group Senior Management Team consisting of the Chief Exe¢utive. Chief Finance Officef and the Director of Operations. The total remuneration of the key management personnel of the ¢harity (including laxable enefils and employer's pension and national insurance conlributionsl was £65,32012024 £63,253). No Trustee received any remuneration during the year12024 - £nill. Trustees, expenses representing the payment or feimbursement of travel and subsistence costs tolalled £ 337 12024 - £nill. 7 Taxatlon Coram Shakespeare Schools Foundation is a registered charity and, therefore, is not liable to income lax or corporation lax on income derived from its charitable activities. as it falls within the various exemptions available to r8gisleied charilies. Coram Shakespeare Schools Foundation 33
Notes to the financial staternents Year to 31 March 2025 8 Intanglble fixed assels Scripts Cost Al 1 April 2024 and at 31 March 2025 31,6SO Amortlsatiorh Al 1 April 2024 and at 31 March 2025 31,650 Net book values At 31 March 2025 Al 31 March 2024 9 Tangible fixed assets Computer equlpment Cosl or valuation Al 1 April 2024 Dispos815 Al 31 March 2025 17.285 117.2851 Dèpr8ciation Al 1 April 2024 Disposal Al 31 March 2025 17.285 117,2851 Net book values At 31 March 2025 At 31 March 2024 10 Stock 2025 2024 T-shirts and other festival merchandise 5,071 2,758 11 Debtors 2025 2024 Tiade debtors Other debtors Prèpayments Amount owed by Parent company Theatre lax relief AcErued income 137,49S 11.194 8,709 108.830 1,675 4,223 11,451 150.000 167.273 3,452 325,545 128.302 611,245 Coram Shakespeare Schools Foundation 34
Notes to the financial statements Year to 31 March 2025 12 Credltors: amount5 falling due within one yèar 2025 2024 Exp8nse creditors Accrua16 Deferd incorne Amount owed to parént undertaking VAT Social securily and other taxes Other credilors 56,794 102,809 121,873 13B,405 23,267 56,861 108,635 118,362 19.644 8,014 2,506 314,022 23,274 466,422 Deferred Income relates to funding reiVed which is subject to time related conditions as well as registration fees received from schools in payment for next year's festival. The movement on deferred income during the year was as follows.. 2025 2024 Balance at th2 beginning of Ihe year Amount released lo income in the year AEnounl deferred in the year 118.362 1118,3621 121,873 121,873 14.026 114,026) 118,362 118,362 13 Movements in funds At31 Mah 2025 AI 1 ApTiI 2024 Income Expendilure Rgstricted funds 291h May 19S1 Chadotte Ailken Trust Gowling Charitable Trust Maria Bjoinson Memorial Fund Total restricted fund5 5,(K)O 20.000 500 5.000 30,51Y) {5,0001 {20,0001 {50f)I 15,000) (30,5001 Total unTrstrlcted funds 330,6e6 965,198 1997,883) 297,984 Total funds 330,66fj 995.698 11.Q28,3831 297,981 29th May 1961 Charitable Trust: To support young people in the West Midlands lo participate in the Shakespeare Schools Theatre Festival in 2024. Charlofte Aitkpn Trust: For use in relation to the theatrical prDduclion of Shakespeare by schools. Gowling Charltable trust: To support young people in Birmingham and Coventry to participate in the Shakespeare Schools Theatre Festival in Spring 2025. Marla Bjorrtson Memorial Fund: To contribute towards transforming the lives of young people of all abilities and backgrounds through Shakespeare. Coram Shakespeare Schools Foundation 35
Notes to the flnancial statements Year to 31 March 2025 14 Analysis of net ass8ts hgtween funds Total Funds 2025 Unreslricle¢ Reslricled Fun¢Js funds Nel current assets 297,981 297,981 15 Operating lease commitments Al 31 March 2025, the charity had commitments in respe¢t lo lolal minimum lease payments payablo under operating lease5 as follows.. Equipment 2025 2024 Payable wlthsll.. Less than one y881 Orh8 to five years 986 11,097 12,083 14,056 15,042 16 Related party transactions The Big Give is the UK'S biggest match funding campaign. Coram Shakespeare Schools Foundation takes parl in the annual Christmas Challenge raising funds for the charity. . Trustees made lolal donations of £8,40012024- £16,500) towards this campaign. The financial slalements do not include disclosure of transactions between Coram Shakespeare Schools Foundation and Coram or any fellow subsidiary entities. As a 1000/0 controlled subsidiary undertaking, Coram Shakespeare Schools Foundation is exempl from the requirement to disclose such transactions under Financial Reporting Standard 102 Sectson 32. Other than as disclosed above land within note 61 there were no other related party transactions during the period of report12024: no other Iransaclions). 17 Ultimate parent undertaklng The Thomas Coram FoLJndalion for Children (Coraml, a registered chaFlty {Charity Registration Number 3122781 is the sole member and ultimate parent undertaking of Coram Shakespeare Schools Foundation. The charity Is consliluted as a company limited by guarantee. In the event of the charity being wound up the member is required to contribute an amount not exceeding £1. Coram Shakespeare SGhools Foundation 36
Notes to the financial statements Year to 31 March 2025 18 Theatrg Tax Relief As an incorporated enlily falling within the corporation lax regime. Coram Shakespeare Schools Foundation became eligible for Theatre Tax Relief on core costs directly related to ils productions since ils incorporation on 1 April 2016. Thè following amounts have been claimed and re¢ogni5ed as income within the financial slatemenls.. 2025 2024 Acoiued in the year Under accuf81 in relation lo previous years 150,000 25,545 175,545 150,000 91,354 241,354 Coram Shakespeare Schools Foundation 37
Appendix: Comparative statement ot financial activitles Year to 31 March 2024 Total furids 2024 Unreslflcted Restricled funds funds Notes Income from- Donations, giants, and legacie5 Charitable activities Advancing the arts education of children Other Iiading activities Bank interest Other sources Thoalre lax r81ief Other Income Total Incorne 127,087 17,500 144,567 645,601 38,387 20.000 665.601 38,387 18 241.354 304 1.052,713 241.354 304 37,500 1,Q90,213 Expenditure on- Raising funds Chaiilable activitlB5'. Advancing the arts èducation of thildren Total expenditura 36,022 3S,022 1,023,144 1,059,166 42,500 1.065 644 42,500 1,IQ1.666 Net expenditure and movement in funds 16,4531 15,000) 111.4531 Reconclllatlon of fund8'. Funds biought forward at 1 April 2023 337,119 5.000 342,119 Funfl8 carried fotward al 31 Mar¢h 2024 330.66S 330,668 Coram Shakespeare Schools Foundation 38
Appendix: Comparative notes to the flnanclal statements Year to 31 March 2024 1 Grant$ receivable Total funds 2024 Unreslricted Reslricled funds funds Individual donations 103.079 103,079 Corporate donations 12,233 12,233 Grants Kickslart subsidy Trusts EstHée Fairbairn Foundalion Duchy of Lancaster benevolent Fund Maria Bjornson Memorial Fund Catherine Cookson Twst 29th May 1961 Victoria Wood Foundation Other small trusts 4,000 5,000 1,000 5,000 2.500 4,OQlO 5,000 1,000 5,000 2,500 11,755 11.755 Legacies Denis Shorrock Elisabeth Parker 127,067 17,500 144,567 Coram Shakespeare Schools Foundation 39
Appendix.. Comparative notes to the financlal statements Year to 31 March 2024 2 Income Irom charitable activities: advancing the arts education of chlldren Total lunds 2024 Unrestricled Re511icled funds furids Theatiical income Regislralion fees Esméè Fairbairn Foundalion Anonymous 166,304 479,297 186,304 479,297 20,000 20.000 20,000 665,601 645,601 3 Income from other trading activlties Total fullds 2024 un$t11C1ed Reslricted fund5 funds MerchandSse Wotkshop8 and events 5,543 32,845 38,387 5,543 32,845 38,387 4 Expendlture Charflable Idvancing th& irts education of chien Gov6man¢e costs Support Costs Total 2024 8ising fund5 Slaflcosls Inole 61 Con$ultanls Staff travel and eXnSeS Festival piomolion and evaluation Festiv81 progyamme and m8rch8ndls& Theatr8 hio and performance ¢051s Staff cèntral GD51s Fundraising costs Premisas OlhÈroffice costs Audit & Governance Depredatim and Ios8 on éisposal 605,244 605,244 8,910 40.854 22.131 1,539 202,356 8,910 40,854 22.131 1.539 202,358 28,002 1,636 119,744 147.746 1.836 9,719 49,404 12.125 9.719 44,749 4.655 12.125 29,638 876,781 12,125 183,122 1,101,fj66 Support costs Governance cost$ 5,988 396 177,134 11.729 1183,1221 36,022 1.065,644 1,101,686 Coram Shakespeare Schools Foundation 40
Appendix: Comparative note5 to the flnancial statements Year lo 31 March 2024 13 Movements in funds At31 March 2024 Al 1 Apiil 2023 Income Expenditur6 Restricted funds Anonymous E5mée Fairbairn Catherine Cooksorn Trust 29th May 1961 Victoria Wood Foundation Duchy ol Lancaster Benevolonl Fund Maria Bjornson Mtsmorlal Fund Total reslricled funds 20,(KJO 120,0001 1S,OQlOI (1,0001 {5,0001 {2,5001 14.DOOI 15.0001 142,500) 5,000 1,(KJO 5,000 2.500 4,000 5.000 37,500 5,000 Total unreslricted fursds 337,119 1.052,713 11,059,166) 330,666 Total funds 342,119 1.090,213 11,101,666) 330,666 14 Analysis of net asset5 between funds Total funds 2024 Unreslricled Reslrioled lunds funds N8t current asse18 330.666 330,666 Coram Shakespeare Schools Foundation 41