Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Shakespeare Link Report & Unaudited Financial Statements 31st March 2024 Contents For the year ended 31[st] March 2024 Reference & AdministraAve Details page 2 Report of the Trustees pages 3 - 16 Independent Examiner’s Report page 17 Statement of Financial AcAviAes page 18 Balance Sheet page 19 Notes to the Financial Statements Pages 20 - 31
Contents
Charity number 1185804
1
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Reference and AdministraAve Details
For the year ended 31[st] March 2024
| Charity Number | 1185804 | |
|---|---|---|
| Registered | Penlanole | |
| Ofce | Llanwrthwl | |
| Llandrindod Wells | ||
| Powys LD1 6NN | ||
| Trustees | The Trustees who served during the year and | |
| up to the date of this report were as follows: | ||
| Andrew Cresswell | ||
| Marie-Therese Gibson-WaX | ||
| Gavin Hooson | ||
| Penelope Lewns | ||
| Richard Rathbone | ||
| Barbara Stow | Chair | |
| Jessica Tyler | ||
| Carole Walsh | ||
| Independent | Cymryd Rhan | |
| Examiner | Davina Hutchinson ACMA FCIE | |
| Balcony Ofce First Floor | ||
| Town Hall | ||
| Great Oak Street | ||
| Llanidloes | ||
| Powys SY18 6BN |
Charity number 1185804 2
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Report of the Trustees For the year ended 31[st] March 2024
The trustees present their annual report together with the financial statements of the charity for the period ended 31 March 2024.
Reference and administrative information above form part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP - effective from January 2019).
Structure, governance and management
Shakespeare Link has been a Charity since 1994, but in October 2019 we became a Charitable Incorporated Organisation (CIO). The assets of the Charity were transferred to the CIO on 4th April 2020, and the Trust was removed from the register of charities on 20th April 2020. Trustees are appointed by invitation based on appropriate skills and experience and we are fortunate in having attracted a high calibre Board. Business and planning is carried out by our Artistic Directors and our Office Administrator.
Objectives and activities
The objectives of the Charitable Incorporated Organisation Shakespeare Link are the advancement of the education of the public through the use of Shakespearean and other drama and in particular, but without prejudice in the generality of the foregoing, to promote their mental, moral and physical development and improvement.
Public benefit
The Trustees confirm that they have referred to the general guidance issued by the Charity Commission regarding public benefit when reviewing the Charity’s aims and objectives when planning activities. The activities undertaken to further the Charity’s purpose for the public benefit are outlined above and further described in the report below.
Achievements and performance
March 23-24 was a celebratory year for Shakespeare Link - being the 400th anniversary of the First Folio. Audience numbers have still not reached pre-Covid figures but have grown significantly. The CIO continued its annual programme of developmental workshops and performance live within its local community and beyond. Joyous community events returned to normal at Willow Globe along with visits from professionals. In-person Have-A-Go sessions have continued and expanded to include sessions in Llanidloes. Due to the demand of our members, we have continued the additional on-line Have-A-Go sessions via Zoom, which are an invaluable lifeline for less mobile Have-A-Go Shakespeare enthusiasts.
THE PERFORMANCE SEASON at WILLOW GLOBE 2023-2024
Our wonderful volunteers came together to put up the Circus Tent on 15th April in time for the opening of the season on April 23rd - Shakespeare’s Birthday Bash:
Charity number 1185804 3
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
As usual, we had contributions from all across the community including many of our Have-A-Go participants and Community Theatre members.
Spring was in full flow when the bonkers and brilliant The School of Night returned to us on May 13th and treated us to another workshop on iambic pentameter verse. Many of our Community Company attended along with other members of the public who came to the subsequent performance in the evening. Once again they dazzled their audience with their quick witted rhymes and rhythms as they improvised another of Shakespeare’s lost plays.
Charity number 1185804 4
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Next up were long time favourites with a timely performance of ‘Julius Caesar’. The Factory returned with a lean and hungry look at Shakespeare's tragedy of political and personal conflict. A fresh Factory take on this story for our times, thought to be the first play performed at the Globe Theatre, and one of those that would have been lost without the First Folio.
“ Moving, gripping performances as always from this excellent company, enhanced by the most magical of theatre spaces imaginable - a treat and a privilege. ”
Continuing our relationship with Radnorshire Wildlife Trust , we hosted their youth camp here on 31st May/1st June.
Our very own Willow Globe Theatre Company came next with three fabulous performances of Shakespeare’s controversial play ‘The Merchant of Venice’. Tackling many subjects still relevant today such as anti-semitism and racism
“ A really diverse cast of first rate actors brought this fast moving and highly entertaining play to life. I loved every minute of it. The whole production was excellent, not only the acting, but the costumes, the music, the use of the lovely Willow Globe Stage, were all wonderful. ”
“ I loved the dancing singing and tomfoolery that went on to balance the serious topic at the heart of the play. ”
The season continued with the brilliant and now Willow Globe regular Debs Newbold . Her stunning retelling of ‘ Macbeth ’ was thoroughly captivating.
“ This was hands down the best Shakespeare I have ever seen (I’ve seen a lot!) and the best storytelling I’ve ever witnessed. The story of Macbeth came alive and I understood it in ways I hadn’t before. I shall be back year after year to see Debs’ performances! ”
Charity number 1185804 5
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
May 4th saw the arrival of ITV Wales’ ‘ Coast and Country ’ team who filmed an episode here - including interviews with our artistic directors, members of our community theatre and our Have-A-Go members.
Schools’ Week last year began on the 19th of June as we played host to around 60 pupils from Llanelwedd and Dolau Schools . Our annual cross-arts project lasted for five days and culminated in a unique telling of ‘A Midsummer Night’s Dream’ on the Friday. Once again, the site was alive with the joy and creativity of these enthusiastic youngsters. Sadly, this was Dolau’s last visit as the school has now been closed. It was great to be able to celebrate the creativity, skills and energy the young brought to their Shakespeare Week.
----- Start of picture text -----
Schools’ Week showing some of the upgraded
benches we had made in 2022.
----- End of picture text -----
Charity number 1185804 6
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
In July we were thrilled and honoured to be invited to Windsor Castle to join King Charles III’s ‘Reception to Celebrate the Contribution of William Shakespeare’s Works to the Literary Culture and Society of the United Kingdom’ The Reception also provided an opportunity to recognise the 400th Anniversary of the publication of Shakespeare’s First Folio, and to celebrate the work and contributions of current Shakespeare performers, academics and practitioners.
From left to right: Scott Brooksbank from The Factory, Phil Bowen - Shakespeare Link Artistic Director, Jamie Wilkes from The Wet Mariners, Sue Best, Artistic Director, Shakespeare Link
Shakespeare Link Administrator, Jacquie Blake tried to convince the King to visit the Willow Globe
Phil Bowen and Jamie Wilkes shake hands with the King
Charity number 1185804 7
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
First time visitors to Willow Globe, Shakespeare Circus followed Schools’ Week with their own ‘A Midsummer Night’s Dream’. This eight-person version of Shakespeare’s popular play had the audience laughing enchanted with the magic and mystery of the forest.
“ What a truly amazing evening. A first experience of live Shakespeare for our 8 year old grand daughter. I just loved watching her face as she concentrated, mused and laughed out loud. A magical and memorable experience ”
We welcomed Sun and Moon Theatre back to the Willow Globe on Saturday 8th July with their unusual take on ‘Romeo and Juliet’ reimagining the feud between the Montagues and Capulets as a rivalry between two family-run movie studios in the 1930s.
From Stratford-upon-Avon, Sweet Sorrow Theatre Company brought us ‘The Comedy of Errors’. A family-friendly 90-minute take on Shakespeare’s classic comedy. Featuring buffoonery leading to ludicrously improbable situations, this young company proved very popular with our audiences:
“ The plot is so unlikely and ridiculous but Sweet Sorrow did it brilliantly! It was slapstick and funny and full of energy! ”
“ Energetic, nuanced and fun! Hope to see them back at Willow Globe next year. ”
From 31st July to 4th August, the site was filled with young nature enthusiasts who came here for the Wildlife and Climate Change Summer Camp led by Radnorshire and Montgomery Wildlife Trusts . With outdoor activities, campaigns workshops, creative writing and improvisation workshops, the camp provided around twenty 14-18 year olds with a safe space to express their feelings and worries about nature and climate issues and to develop their skills and knowledge around them.
----- Start of picture text -----
Participants of the RWT Wildlife and Climate
Change Summer Camp
----- End of picture text -----
Charity number 1185804 8
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
----- Start of picture text -----
The circus tent lit up using our
renewable solar power
----- End of picture text -----
Willow Globe regulars the Everyman Youth Theatre from Cardiff were here on Sunday 6th August with two performances of a magical and powerful interpretation of ‘Macbeth’.
Old friend Christopher Hunter visited us on Friday 18th August with his acclaimed one man show ‘Venus and Adonis’. It was remarkable to see how it had developed since his initial visit with this show before taking it to the Edinburgh Festival a few years ago.
The following week marked the beginning of preparations here for our First Folio Festival - a weekend long celebration of the amazing achievement and publication of Shakespeare’s First Folio. Long time Willow Globe favourites, The Wet Mariners kicked us off with their jaw dropping performances of ‘Coriolanus’. Reorganising the Willow Globe to perform in ‘the round’ they involved the audience at times to achieve an 80 strong cast. We are truly lucky to have them call us their home.
“ Just when you think you have the measure of the Wet Mariners' ability to reach deep into the heart of a Shakespeare play, they raise the bar according to their ever-increasing theatrical expertise. Hence, their imaginative staging of Coriolanus was a triumph, a tour de force that exposed crumbling foundations of proud virility in a manner that not only framed the anti-hero's story with compassion but also offered an immersive acquaintance with mob politics. Truly, this event did credit to the players, the Willow Globe and its enthusiastic audience. ”
Thanks to an award from the Postcode Community Trust, we had a feast of activities over the weekend including:
Talks:
-
Shakespeare and Wales with Dr David Cottis
-
Tim Carroll, Director of Shaw Festival Theatre, Canada
-
Blanche McIntyre, Director at Shakespeare’s Globe, RSC etc
-
Workshops:
-
Letterpress printing with The Letterpress Collective
-
Quill making and calligraphy with local artist Deb Bunker
-
Movement for wellbeing with Jake Nwogu
-
Have-A-Go Shakespeare
-
Nature Trail and Scavenger Hunt
Charity number 1185804 9
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Performances:
- •Musical concert with Simon Fraser
•Shakespeare’s Greatest Hits - excerpts from each of the 21 plays which would have been lost without the First Folio
•Coriolanus by The Wet Mariners •From Stage to Page - Iambic improvisation as The School of Night put The Wet Mariners through their paces
Ecstatic and exhausted by the end, the weekend was a fantastic success with much positive feedback:
“ I thought the activities within the festival
were excellent and of a very high standard. Each event clearly linked to the theme of the festival and were open to participants of all ages and abilities. There was such a great atmosphere, everyone was so friendly and welcoming. It was so exciting to work with artists and actors of such high professional standard, it felt really inclusive and special. I learnt a great deal, made new friends and had a lovely time. The Folio Festival is a really good example of the way Shakespeare can bring people together, feel part of a community and enjoy themselves. I frequently attend events throughout Mid Wales, all of them are good, but Shakespeare Link's First Folio Festival is the best, not only because of the exceedingly warm welcome but because of the very high standard of the actors and artists. ”
----- Start of picture text -----
Charity number 1185804 10
----- End of picture text -----
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
“ the collaboration between the School of Night and The Wet Mariners on the Monday afternoon was jaw-dropping; I was literally on the edge of my seat throughout and am full of admiration for all who participated - boundless talent and energy! ”
The last weekend of the season consisted of a joint workshop with Mid Wales Opera ‘Much Ado About Something’ on the Saturday followed by Milly Jackdaw and Halo Quin ’s exploration “finding the folktale roots of bardic inspiration” on Sunday 17th September.
In December, we celebrated the dedication and support of our wonderful ‘Friends’ and Volunteers with an afternoon of mulled wine, mince pies and Panettone and a playback of exclusive footage from the Festival.
In January, the Willow Globe Community Company were reconvened for rehearsals before a final performance of ‘The Merchant of Venice’ at the Wyeside Arts Centre on January 21st.
We continued our online Have-A-Go sessions, which remain a lifeline for those who are still shielding, as well as to some members of the group who have limited mobility. We are also continuing to run our fortnightly in-person Have-A-Go sessions in Builth and here at Willow Globe and have expanded to run sessions at The Hanging Gardens in Llanidloes.
----- Start of picture text -----
Have-A-Go participants utilising some of our
repurposed older benches outside in the
courtyard
----- End of picture text -----
“ Have-a-Go online has helped us through the pandemic and beyond. We are both chronically sick (one with myeloma, the other with chronic heart disease) and live alone in an isolated location. The regular on-line sessions have been a real lifeline, have kept us occupied and active social beings ”
Charity number 1185804
11
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
----- Start of picture text -----
The boardwalk into our Rhos Pasture. Many
audience members take the opportunity to walk
along here when they attend our performances
Audience members
----- End of picture text -----
Charity number 1185804
12
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
----- Start of picture text -----
Participants in one of Jake Nwogu’s movement
for wellbeing sessions piloted at Willow Globe
last summer
----- End of picture text -----
In December we were incredibly excited and grateful to have our new solar system installed by Powys Solar and funded by Welsh Government’s Community Facilities Programme. This system promises to save us money on our energy bills and make us 100% green on event days.
Charity number 1185804
13
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Once again this year we are feeling excited and ambitious, aiming to build on last year. We wish to repeat the fabulous Shakespeare Schools’ Week - next year with Rhayader Primary School. We have an exciting new partnership forming with Powys Teaching Health Board and local dance organisation Impelo as we develop a project to help people affected by communication challenges such as stroke sufferers, brain tumours, motor neurone disease etc. We are also looking for ways to continue our successful ‘Imagining the Real’ project.
VOLUNTEERS: we continued to provide a welcome focus for endeavour our volunteers. In this rurally isolated area volunteers welcomed the opportunity to be on an open-air site, focussing on familiar routines - wardrobe, technical checks, theatre and Nature Trail maintenance etc.
----- Start of picture text -----
Volunteers helping to put up the tent for the
summer season
----- End of picture text -----
VENUE HIRE: we were happy to host the PLAYWORKERS FORUM for their annual get-together which enables valuable exchange of practice etc. Our accessible position along the A470 makes the site a useful central venue for like-minded groups to convene. Mid Wales Youth Theatre Trustees also use the Stable for meetings as occasionally do Impelo.
COSTUME RESOURCE for local companies: we were glad to be able to source some costumes and props for Mid Powys Youth Theatre, Mid Wales Opera, Builth Wells Community Arts (BWCAS), the Dangerous Community Games project, and some individual borrowers, as well as helping visiting Companies as required.
RADNORSHIRE WILDLIFE TRUST: Our exciting working relationship with RWT is flourishing. This year we have hosted two workshops for them, when attendees have enjoyed the different spaces we can offer on site, including camping for a weeklong climate and arts camp. We look forward to developing another joint project with them during 2023, linking the natural lore to be found expressed in Shakespeare’s plays - ‘books in the running brooks, sermons in stones’ - with the natural lore here in mid Wales.
Charity number 1185804
14
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Shakespeare Link’s charitable remit has been well served during 2023-2024
-
A welcoming and magical creative hub remains alive in this isolated area in difficult
-
times
-
Delivery of local workshop opportunities, as well as online, for all ages and stages within a wider community
-
Continuing to offer volunteer opportunities where folk can develop skills and make friends
-
Supporting climate change initiatives using Shakespeare as the medium for connection and debate, and in particular hosting Radnorshire Wildlife Trust’s Climate Camp.
-
Offering opportunities for local artists to work with visiting professional companies
-
Encouraging and offering a platform to young professional artists, both local and national
-
Supporting local youth/community groups - Mid Powys Youth Theatre, Builth Wells Community Arts and Young Farmers - with a range of professional input and advice;
-
Fostering links with the ‘Community Theatre’ developments in Latvia, originally inspired by Shakespeare Link. Sadly, a planned visit by Latvian students was cancelled due to Brexit resulting in the UK no longer being a part of the Erasmus Scheme
-
Ongoing provision of our popular Have-A-Go Shakespeare series of workshops for senior citizens, both in person and online.
-
Shakespeare Workshops provided at the Children’s Literary Festival in Merthyr Tydfil in April
Fundraising: achievements against objectives
Fundraising was tough again this year in the aftermath of Covid and the recession, with many priorities being shifted away from the Arts. We are extremely grateful to Llysdinam Trust, Ashley Family Foundation, The Gibbs Trust, Mid Wales Music Trust, Foyle Foundation, People’s Postcode Lottery, Arts Council Wales Night Out Scheme as well as to individual donors whose contribution is essential to help with our running costs. Their support has enabled us to provide the wide variety of experience, collaboration and performance that has enriched the lives of everyone involved.
Reserves policy
The Trustees consider the optimum level of unrestricted reserves to be equal to 3-6 months’ fixed expenditure of the Charity, estimated at £15000. This level of reserves would provide adequate funds to enable the Charity to continue its activities in the event of an unforeseen reduction in funding or another significant event.
Charity number 1185804
15
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Statement of responsibilities of the Trustees
The trustees are responsible for preparing the Trustees' Report and the Financial Statements in accordance with 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).
The law applicable to charities in England and Wales 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 charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
Make judgements and accounting estimates that are reasonable and prudent;
-
State whether applicable accounting standards and Statements of Recommended Practice have been followed, subject to any material departures disclosed and explained in the Financial Statements; and
-
Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity are not required to contribute to the assets of the charity in the event of winding up. The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.
Approved by the Trustees on and signed on their behalf 18th January 2025
by:
Barbara Stow – Chair of Trustees
Charity number 1185804
16
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Independent Examiner’s Report to the Trustees of Shakespeare Link
For the year ended 31[st] March 2024
I report to the Trustees on my examination of the accounts of Shakespeare Link for the year ended 31[st] March 2024, which are set out on pages 18 to 31.
Respective Responsibilities of Trustees and Examiner
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
Accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
The accounts do not accord with those records; or
-
The accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give “a true and fair view” which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Date: 24th January 2025
Davina Hutchinson ACMA FCIE
For and on behalf of:
Cymryd Rhan Balcony Office First Floor Town Hall Great Oak Street Llanidloes Powys SY18 6BN
Charity number 1185804
17
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Statement of Financial AcAviAes
For the year ended 31[st] March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | |
| £ | £ | £ | £ | |
| Income | ||||
| Grants2 | 25,000 | 10,000 | 35,000 | 30,841 |
| DonaAons | - | 7,286 | 7,286 | 21,273 |
| Charitable acAviAes3 | - | 25,653 | 25,653 | 23,485 |
| __ | __ | __ | __ | |
| Total Income | 25,000 | 42,939 | 67,939 | 75,599 |
| __ | __ | __ | __ | |
| Expenditure | ||||
| Charitable acAviAes4 | 13,625 | 49,039 | 62,664 | 73,627 |
| Governance | - | 2,178 | 2,178 | 1,763 |
| __ | __ | __ | __ | |
| Total Expenditure | 13,625 | 51,217 | 64,842 | 75,390 |
| __ | __ | __ | __ | |
| Net Income/(Expenditure)5 | 11,375 | (8,278) | 3,097 | 209 |
| __ | __ | __ | __ | |
| Transfers between funds | - | - | - | - |
| __ | __ | __ | __ | |
| ReconciliaAon of funds | ||||
| Funds brought forward | 2,535 | 25,275 | 27,810 | 27,601 |
| __ | __ | __ | __ | |
| Funds carried forward | 13,910 | 16,997 | 30,907 | 27,810 |
| ======== | ======== | ======== | ======== |
All of the above results are derived from conAnuing acAviAes. There were no other recognised gains or losses other than those stated above. Net movements in funds are disclosed in Note 12 to the accounts.
Charity number 1185804
18
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Statement of Assets and LiabiliAes
For the year ended 31[st] March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fixed Assets7 | 13,910 | - |
| ======== | ======== | |
| Current Assets | ||
| Cash at bank and in hand | 19,760 | 27,810 |
| Debtors9 | 114 | - |
| Books | 120 | - |
| __ | __ | |
| Total Current Assets | 19,994 | 27,810 |
| __ | __ | |
| Current LiabiliAes9 | ||
| Trade creditors | (2,797) | - |
| Accruals | (200) | - |
| __ | __ | |
| Total Current LiabiliAes | (2,997) | - |
| __ | __ | |
| Total Current Assets | 16,997 | 27,810 |
| ======== | ======== | |
| Total Assets | 30,907 | 27,810 |
| ======== | ======== | |
| Charity Funds10 | ||
| Restricted funds | 13,910 | 2,535 |
| Unrestricted funds | 16,997 | 25,275 |
| __ | __ | |
| Total Charity Funds | 30,907 | 27,810 |
| ======== | ======== |
Approved by the Trustees on and signed on their behalf by:
Barbara Stow – Chair of Trustees
Charity number 1185804
19
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Notes to the Financial Statements
For the year ended 31[st] March 2024
- 1 AccounAng Policies
a Basis of preparaAon
The Financial Statements have been prepared in accordance with AccounAng and ReporAng by ChariAes: Statement of Recommended PracAce applicable in chariAes in preparing their accounts in accordance with the Financial ReporAng Standard applicable in the UK and Republic of Ireland (FRS 102) (effecAve 1 January 2019) - (ChariAes SORP (FRS 102)), the Financial ReporAng Standard applicable in the UK and Republic of Ireland (FRS 102).
Shakespeare Link meets the definiAon of a public benefit enAty under FRS 102. Assets and liabiliAes are iniAally recognised at historical cost or transacAon value unless otherwise stated in the relevant accounAng policy note.
b Going concern basis of accounAng
The accounts have been prepared on the assumpAon that the charity is able to conAnue as a going concern, which the trustees consider having regard to the current level of unrestricted reserves. There are no material uncertainAes about the charity’s ability to conAnue as a going concern.
- c Income
Income is recognised when the charity has enAtlement to the funds, any performance condiAons aXached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether “capital” grants or “revenue” grants is recognised when the charity has enAtlement to the funds, any performance condiAons aXached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income from commissions, or fees, is recognised when earned and is deferred when received in advance.
d Donated services and faciliAes
Charity number 1185804
20
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Donated professional services and donated faciliAes are recognised as income when the charity has control over the item, any condiAons associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the ChariAes SORP (FRS 102), general volunteer Ame is not recognised.
On receipt, donated professional services and donated faciliAes are recognised on the basis of the value of the gil to the charity which is the amount the charity would have been willing to pay to obtain services and faciliAes of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon noAficaAon of the interest paid or payable by the bank.
f Funds accounAng
Unrestricted funds are available to spend on acAviAes that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discreAon to set aside to use for a specific purpose. Restricted funds are donaAons which the donor has specified are to be solely used for parAcular areas of the charity’s work or for specific projects being undertaken by the charity.
g Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or construcAve obligaAon to make a payment to a third party, it is probable that seXlement will be required and the amount of the obligaAon can be measured reliably.
Irrecoverable VAT is charged as a cost against the acAvity for which the expenditure was incurred.
h AllocaAon of support and governance costs
Support costs are those funcAons that assist the work of the charity but do not directly undertake charitable acAviAes. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with consAtuAonal and statutory requirements and any costs associated with the strategic management of the charity’s acAviAes. These costs have been allocated in full to charitable acAviAes in the statement of financial acAviAes. The charity does not currently expend significant resources on raising funds, and all costs of raising funds have been directly allocated.
i Tangible fixed assets
Charity number 1185804
21
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
DepreciaAon is provided at rates calculated to write down the cost of each asset to its esAmated residual value over its expected useful life. The depreciaAon rates in use are as follows:
Electronic equipment – 4 years straight line
Fixtures and fiqngs – 15 years straight line
Solar panels – 5 years straight line
Items of equipment are capitalised where the purchase price exceeds £500.
j Debtors
Trade and other debtors are recognised at the seXlement amount due aler any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
k Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisiAon or opening of the deposit or similar account.
l Creditors
Creditors and provisions are recognised where the charity has a present obligaAon resulAng from a past event that will probably result in the transfer of funds to a third party and the amount due to seXle the obligaAon can be measured or esAmated reliably. Creditors and provisions are normally recognised at their seXlement amount aler allowing for any trade discounts due.
m
Financial instruments
The charity only has financial assets and financial liabiliAes of a kind that qualify as basic financial instruments. Basic financial instruments are iniAally recognised at transacAon value and subsequently measured at their seXlement value with the excepAon of bank loans which are subsequently recognised at amorAsed cost using the effecAve interest method.
n
AccounAng esAmates and key judgements
In the applicaAon of the charity’s accounAng policies, the trustees are required to make judgements, esAmates and assumpAons about the carrying values of assets and liabiliAes that are not readily apparent from the other sources. The esAmates and underlying assumpAons are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these esAmates.
Charity number 1185804
22
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
The esAmates are underlying assumpAons are reviewed on an ongoing basis. Revisions to accounAng esAmates are recognised in the period in which the esAmate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key sources of esAmaAon uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciaAon as described in note i. above.
2 Income from Grants
| Restricted | Unrestricted | 2024 Total | 2023 Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Schools’ Week | - | - | - | 2,000 |
| Mid Wales Music Trust | 2,000 | - | 2,000 | 3,000 |
| Community Foundation Wales | - | - | - | 4,500 |
| Powys Wales Church Act | ||||
| Community Foundation Wales | - | - | - | 5,720 |
| Ashley Family Foundation | ||||
| PCC Arwain Community Venue | - | - | - | 2,286 |
| PCC/PAVO ICF grant | - | - | - | 6,349 |
| PCC Covid Community Renewable | - | - | - | 3,986 |
| Llysdinam Trust | - | - | - | 3,000 |
| People’s Postcode | - | 10,000 | 10,000 | - |
| Foyle Foundation | 5,000 | - | 5,000 | - |
| WAG Community Facilities | 18,000 | - | 18,000 | - |
| __ | __ | __ | __ | |
| Total income from grants | 25,000 | 10,000 | 35,000 | 30,841 |
| ======== | ======== | ======== | ======== | |
| Total 2023 | 27,841 | 3,000 | ||
| ======== | ======== |
All income from donaAons was unrestricted in the current year.
Charity number 1185804
23
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
3 Income from Charitable AcAviAes
| Restricted | Unrestricted | 2024 Total | 2023 Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Ticket sales | - | 13,797 | 13,797 | 15,542 |
| Workshops | - | 4,156 | 4,156 | 2,564 |
| Bar and cafe | - | 3,885 | 3,885 | 4,205 |
| Venue hire | - | 2,580 | 2,580 | 990 |
| Other revenue | - | 1,235 | 1,235 | 184 |
| __ | __ | __ | __ | |
| Total income from charitable | ||||
| acAviAes | - | 25,653 | 25,653 | 23,485 |
| ======== | ======== | ======== | ======== | |
| Total 2023 | 1046 | 22459 | ||
| ======== | ======== |
4 Expenditure from Charitable AcAviAes
| Support & | ||||
|---|---|---|---|---|
| Charitable | Governance | Total | Total | |
| AcAviAes | Costs | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Touring & producAon costs | 18,286 | - | 18,286 | 18,417 |
| Equipment purchases | 1,939 | - | 1,939 | 15,746 |
| Professional performers fees | 7,642 | - | 7,642 | 10,930 |
| Contractor costs | 6,903 | - | 6,903 | 9,034 |
| Premises costs | 5,888 | - | 5,888 | 5,888 |
| MarkeAng | 5,447 | - | 5,447 | 3,138 |
| Bar & cafe | 2,676 | - | 2,676 | 2,969 |
| Repairs & maintenance | 4,962 | - | 4,962 | 2,163 |
| Insurance | 1,988 | - | 1,988 | 1,853 |
| Travel & subsistence | 784 | - | 784 | 1,504 |
| Phone, post & staAonery | 904 | - | 904 | 859 |
| Website & solware | 690 | - | 690 | 477 |
| Bank fees | 469 | - | 469 | 98 |
| Other expenses | 609 | - | 609 | 551 |
| Independent examinaAon | - | 2,178 | 2,178 | 1,763 |
| __ | __ | __ | __ | |
| Total expenditure | 62,664 | 2,178 | 64,842 | 75,390 |
| ======== | ======== | ======== | ======== | |
| Total 2023 | 73,627 | 1,763 |
Charity number 1185804
24
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
======== ========
5 Net Movement in Funds - this is stated aler charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| DepreciaAon | 3,477 | - |
| Trustees’ reimbursed expenses | - | - |
| Independent examiner’s remuneraAon | 2,178 | 1,763 |
| ======== | ======== |
6 Taxation
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
Charity number 1185804
25
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
7 Tangible Fixed Assets
| Solar Panels | ||
|---|---|---|
| Total | ||
| £ | £ | |
| Cost | ||
| At 1stApril 2023 | - | - |
| AddiAons in year | 17,387 | 17,387 |
| Disposals in year | - | - |
| __ | __ | |
| 17,387 | 17,387 | |
| __ | __ | |
| DepreciaAon | ||
| At 1stApril 2023 | - | - |
| Charge for year | 3,477 | 3,477 |
| On disposals | - | - |
| __ | __ | |
| 3,477 | 3,477 | |
| __ | __ | |
| Net Book Value | ||
| At 31st March 2024 | 13,910 | 13,910 |
| ======== | ======== | |
| At 31stMarch 2023 | - | - |
| ======== | ======== | |
| Debtors | ||
| 2024 | 2023 | |
| £ | £ | |
| Trade debtors | 114 | - |
| Accrued income | - | - |
| __ | __ | |
| 114 | - | |
| ======== | ======== |
8 Debtors
Charity number 1185804
26
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
9 Creditors: amounts due within 1 year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 2,797 | - |
| Accruals | 200 | - |
| Deferred income | - | - |
| __ | __ | |
| 2,997 | - | |
| ======== | ======== |
10 Analysis of Net Assets Between Funds
| Restricted | Designated | General | Total | |
|---|---|---|---|---|
| Current Year | Funds | Funds | Funds | 2024 |
| £ | £ | £ | £ | |
| Tangible fxed assets | 13,910 | - | - | 13,910 |
| Current assets | - | 509 | 19,485 | 19,994 |
| Current liabiliAes | - | - | (2,997) | (2,997) |
| __ | __ | __ | __ | |
| Net assets 31 March 2024 | 13,910 | 509 | 16,488 | 30,907 |
| ======== | ======== | ======== | ======== | |
| Restricted | Designated | General | Total | |
| Prior Year | Funds | Funds | Funds | 2023 |
| £ | £ | £ | £ | |
| Tangible fxed assets | - | - | - | - |
| Current assets | 2,535 | - | 25,275 | 27,810 |
| Current liabiliOes | - | - | - | - |
| ____ | ____ | ____ | ____ | |
| Net assets 31st March 2023 | 2,535 | - | 25,275 | 27,810 |
| ======== | ======== | ======== | ======== |
Charity number 1185804
27
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
11 Movement in Funds
| Transfers | |||||
|---|---|---|---|---|---|
| Current Year | At 1 April | between | At 31 March | ||
| 2023 | Income | Expenditure | funds | 2024 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | |||||
| Ashley Family FoundaAon | 1,507 | - | (1,507) | - | - |
| Powys Social Value Forum | 1,000 | - | (1,000) | - | - |
| Mid Wales Music Trust - Schools’ Week | 57 | 2,000 | (2,057) | - | - |
| ACW – HAG Online | (29) | - | 29 | - | - |
| CAPITAL WAG Community FaciliAes | - | 18,000 | (4,090) | - | 13,910 |
| Foyle FoundaAon | - | 5,000 | (5,000) | - | - |
| __ | __ | __ | __ | __ | |
| Total Restricted Funds | 2,536 | 25,000 | (13,625) | - | 13,910 |
| __ | __ | __ | __ | __ | |
| Unrestricted Funds | |||||
| Designated Funds | |||||
| Tchad Blake donaAon | 450 | - | - | (450) | - |
| Have-a-Go | 1,237 | - | (728) | - | 509 |
| __ | __ | __ | __ | __ | |
| Total Designated Funds | 1,687 | - | (728) | (450) | 509 |
| __ | __ | __ | __ | __ | |
| General Funds | |||||
| Arts Council for Wales | (283) | - | - | 283 | - |
| 6 month running costs | 15,000 | - | - | - | 15,000 |
| PCC – WOW | (296) | - | - | 296 | - |
| Night Out ACW | 439 | - | - | (439) | - |
| Postcode LoXery | - | 10,000 | (10,000) | - | - |
| General | 8,727 | 32,939 | (40,489) | 310 | 1,487 |
| __ | __ | __ | __ | __ | |
| Total Unrestricted Funds | 25,275 | 42,939 | (51,217) | 16,997 | |
| __ | __ | __ | __ | __ | |
| Total Funds | 27,810 | 67,939 | (64,842) | 30,907 | |
| ======== | ======== | ======== | ======== | ======== |
Charity number 1185804
28
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
Purposes of Restricted Funds
Ashley Family FoundaOon AdministraAon costs Powys Social Value Forum Imagining the Real project Mid Wales Music Trust Schools’ Week Schools’ Week 2023 WAG Community FaciliOes Upgrade to solar system Foyle FoundaOon Core costs
Charity number 1185804
29
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
11 Movement in Funds (conAnued)
| Transfers | |||||
|---|---|---|---|---|---|
| Prior Year | At 1 April | between | At 31 March | ||
| 2022 | Income | Expenditure | funds | 2023 | |
| £ | £ | £ | £ | £ | |
| Restricted Funds | |||||
| Ashley Family FoundaOon | - | 5,720 | (4,212) | - | 1,507 |
| Arwain Community Venue | - | 2,286 | (2,399) | 113 | - |
| Ben Jorgensen Green Room | - | 10,686 | (10,904) | 218 | - |
| Ben Jorgensen Fund (AYLI) | 4,987 | 1,026 | (5,877) | (136) | - |
| Gwendoline & Margaret Trust | 1,656 | - | (1,496) | (160) | - |
| PAVO ICF Benches | 1,139 | - | (1,230) | 91 | - |
| Powys Social Value Forum | - | 6,349 | (5,349) | - | 1,000 |
| Mid Wales Music Trust - Schools’ Week | - | 9,500 | (8,993) | (450) | 57 |
| ACW – HAG Online | - | - | (29) | - | (29) |
| Refreshment Shelter Fund | (3,986) | 3,986 | (211) | 211 | - |
| ____ | ____ | ____ | ____ | ____ | |
| Total Restricted Funds | 3,796 | 39,553 | (40,700) | (114) | 2,536 |
| ____ | ____ | ____ | ____ | ____ | |
| Unrestricted Funds | |||||
| Designated Funds | |||||
| Tchad Blake DonaOon | - | 1,000 | (550) | - | 450 |
| Bench Fund | 3,925 | - | - | (3,925) | - |
| Have-a-Go | 919 | 3.839 | (3,521) | - | 1,237 |
| ____ | ____ | ____ | ____ | ____ | |
| Total Designated Funds | 4,844 | 4,839 | (4,071) | (3,925) | 1,687 |
| ____ | ____ | ____ | ____ | ____ | |
| General Funds | |||||
| Art Council Wales | - | - | (283) | - | (283) |
| 6 month running costs | 10,000 | (3) | - | 5,003 | 15,000 |
| PCC WOW | - | - | (296) | - | (296) |
| Night Out ACW | - | 4,368 | (3,929) | - | 439 |
| General funds | 8,961 | 26,843 | (26,112) | (965) | 8,727 |
| ____ | ____ | ____ | ____ | ____ | |
| Total Unrestricted Funds | 23,805 | 36,046 | (34,691) | 114 | 25,275 |
| ____ | ____ | ____ | ____ | ____ | |
| Total Funds | 27,601 | 75,600 | (75,390) | - | 27,810 |
| ======== | ======== | ======== | ======== | ======== |
Charity number 1185804
30
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2024
12 Related Party TransacAons
There were no related party transacAons in the current or prior period.
Charity number 1185804
31