Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **Shakespeare Link Report & Unaudited Financial Statements**
## **31st March 2025**
**Contents** For the year ended 31[st] March 2025
Reference & AdministraAve Details page 2 Report of the Trustees pages 3 - 15 Independent Examiner’s Report page 16 Statement of Financial AcAviAes page 17 Balance Sheet page 18 Notes to the Financial Statements Pages 19 - 28
Page 1
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **Reference and AdministraAve Details**
|**Reference and AdministraAve Details**|**Reference and AdministraAve Details**||
|---|---|---|
|For the year ended 31stMarch 2025|||
|**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||
||Gavin Hooson||
||Marie-Therese Gibson-WaY||
||Penelope Lewns||
||Richard Rathbone||
||Barbara Stow|Chair|
||Jessica Tyler||
||Carole Walsh||
|**Independent**|Davina Hutchinson ACMA FCIE||
|**Examiner**|Garden CoYage||
||Brynwern Hall||
||Llanfgangel Brynpabuan||
||Builth Wells||
||Powys||
||LD2 3SE||
Page 2
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
**Report of the Trustees** For the year ended 31[st] March 2025
The trustees present their annual report together with the financial statements of the charity for the period ended 31 March 2025.
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 whilst 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 24-25 was a good year for Shakespeare Link with audience numbers approaching preCovid figures. The CIO continued its annual programme of developmental workshops and performance live within its local community and beyond. Joyous community events continued at Willow Globe along with visits from professionals. In-person Have-A-Go sessions have continued and expanded to include trial sessions in Hay-on-Wye. 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 2024**
After two false starts due to inclement weather, our wonderful volunteers came together to put up the Circus Tent on 20th April just in time for the opening of the season on April 21st - **Shakespeare’s Birthday Bash** :
Page 3
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
As usual, we had contributions from all across the community including many of our **Have-A-Go** participants and Community Theatre members:
On 2nd May we hosted a celebration of the life of one our volunteers who had died whilst travelling in Africa. Mick was a member of community theatre’s band and he was a regular at the Willow Globe, volunteering to help run the bar at our events over the summer. Friends from all over Wales who had connected with him through his love of the arts, music, and drumming in particular, assembled in the tent for a musical evening of remembrance and celebration:
Page 4
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
The 4th May brought the first visit to Willow Globe by **Edward Derbyshire** with his musical antics, as he told us the story of Bottom from ‘A Midsummer Night’s Dream’. The timeless words of Shakespeare, interspersed with piano classics, told and played live in this one-person show.
Our very own **Willow Globe Company** were next up with their brilliantly cast ‘Twelfth Night’ highlighting the enormous talents of our local community. Beautifully directed by Sue Best and Phil Bowen, they played three shows at the Willow Globe two of which were sell-outs on the Saturday and Sunday:
“ _It was wonderful. Pure joy. I've been waiting a long time to be able to return to the Willow and was not disappointed. I brought my children 10 & 13 to their first Shakespeare play, hopefully the first of many. Sitting still for long periods is not always easy for my youngest, but he was engaged throughout most of the performance. We all decided Sir Toby was our favourite character. We also particularly enjoyed the music, and singing in the rain at the end of the play was an enchanting moment._ ” Audience member
Page 5
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
The season continued with the incredibly talented storyteller **Debs Newbold** who spent a whole weekend at the Willow on 22nd and 23rd June. Part of her Kings and Queens tour, on Saturday she retold the heart-wrenching story of ‘ **King Lear** ’ and on Sunday we learned the fascinating story of **Grace O’Malley - Pirate Queen.** No one tells a tale quite like Debs, who had us all on tenterhooks throughout.
“ _Inspiring, mesmerising, engaging, thought provoking, funny, exciting, emotional, movement content was hugely effective, just absolutely glorious, thank you, and diolch to Debs Newbold a consummate performer! Really was amazed at the dragonfly's entry and exit almost perfectly on cue - how did you manage that!?! Reflective of the nature all around us - and how we're all connected…_ ”
Audience member - Grace O’Malley
The bonkers and brilliant **The School of Night** returned to us on June 15th. Sadly it was raining in the evening so we took cover in the (tea) cosy ambience of the barn. Once again, with plenty of audience participation, we were dazzled with their quick witted rhymes and rhythms as they i m p r o v i s e d a n o t h e r o f Shakespeare’s lost plays.
Page 6
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
The 29th June marked the return to the Willow Globe of **The Factory Theatre Company** . They ran a free workshop before their sell out performance of ‘ **The Tempest** ’. On Sunday 30th they put on a well attended fundraising event to help arts and medical aid organisations around the world.
The annual Play Wales takeover followed on 2nd, 3rd and 4th of July. Every year, around 50 delegates from all across Wales come to the Willow Globe for their annual conference, taking full advantage of the natural and manmade facilities we have onsite. An open fire pit, wild camping, big top circus tent, nature trails, woods, Rhos Pasture, and the Willow Globe itself.
We welcomed **Sun and Moon Theatre** back to the Willow Globe on Saturday 20th July who brought ‘ **The Winter’s Tale** ’ to us this year. Said to contain one of the most famous exit stage directions - “Exit, pursued by a bear” unusually this time, brought us a fearsome one footed polar bear!
“ _We loved Sun and Moon's performance, it was full of charm, wit and the type of enthusiasm and energy that captivates you in the performance. We were also really pleased at the clarity this_
_performance brought to the play making a tale that can be meandering easy to follow and fully engrossing_ .”
Drawing on the international connections Shakespeare Link have made over the decades, Monday 22nd July saw the exciting arrival of **Woodshed Arts** all the way from North Carolina in the USA. Twelve 13-18 year olds plus five adult chaperones made the Willow Globe their home for the week - eating, sleeping, playing and working here for seven nights, culminating in a lively contemporary musical interpretation of ‘ **As You Like It** ’ which they named ‘ **Arden** ’.
“ _A spirited, confident performance of their own script by a group of personable American teenagers. The audience, despite being neither American nor teenagers themselves, got the contemporary take on Shakespeare's tale and responded warmly._ ”
Cross collaboration between continents commenced on Sunday 28th July, as the twelve students from **Woodshed Arts** met around 22 students from Cardiff’s **Everyman Youth Theatre** . After sharing warm up exercises from both companies, the Everyman team played a touching ‘ **Romeo and Juliet’** and then sat down to watch ‘ **Arden** ’. All the young people were blown away by each other’s work. Much singing and dancing ensued as the young creatives swapped notes - and
Page 7
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
addresses! - and made plans for the future, whilst enjoying a barbecue feast together in the courtyard.
Our thanks go to Creighton Irons from Woodshed Arts and Sarah Bawler from Everyman Youth Theatre for their vision and guidance in enabling this happy talented melting pot and adding to this summer’s magic at Willow Globe.
**----- Start of picture text -----**
Page 8
**----- End of picture text -----**
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Just when we thought the summer couldn’t get any better, and as we bid a fond farewell to **Woodshed Arts** , **The Wet Mariners** arrived! 2024 marked their twelfth consecutive year visiting us, and they were more extraordinary than ever. True to form, they transformed the theatre space and delivered two stunning performances of _**Pericles**_ , leaving audiences utterly delighted and captivated:
_“It is wonderful to have the calibre of acting you would expect at the RSC here in rural mid Wales. We are so privileged to have this group come back every year.”_
_“I was very moved by The Wet Mariners' performance….it spoke so directly to us the audience and presented such a compassionate portrayal of the human condition…Pericles and each one of us.”_
Audience Member at The Wet Mariners’ ‘Pericles’
Page 9
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Following on from **The Wet Mariners** was a first time visit to Willow Globe by the renowned **Folksy Theatre** all the way from Scotland who brought with them a lively ‘ **As You Like I** t’. Some audience members travelled from afar specifically to see them.
_“The venue is beyond lovely and the troupe were having such a fun time on stage delivering the story it was impossible not to leave without a big smile...Really enjoyed the performance. Very good music and singing.”_
Audience Member at Folksy Theatre’s ‘As You Like It’
On 18th August, our community company **The Willow Globe Company** performed ‘ **Twelfth Night** ’ to a delighted audience at Hay Castle, Hay-on-Wye.
On the 31st we were visited by **Sweet Sorrow Theatre Company** for the second year running. This young and enthusiastic company charmed the audience with two fun performances of ‘ **Much Ado About Nothing** ’
“ _Loved it. Brings Shakespeare to life, so entertaining and such a treat to have such a quality performance here in the middle of nowhere and accessible to us rural dwellers. Thank you._ ”
(Audience member at Sweet Sorrow’s ‘Much Ado About Nothing’)
Page 10
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Finishing up the summer season here at Willow Globe was an exclusive performance by the Willow Globe Theatre Company for Radnor-Powys Women’s Institute.
Our work continued into the autumn with a new project working in partnership with Powys Teaching Health Board and local dance company Impelo. We ran a pilot series of drama workshops for people with speech impairments due to various conditions such as strokes, Parkinson’s and head injuries. All of our practitioners received Continuing Professional Development training from speech therapist Ceinwen Douglas who also attended the sessions. She and the participants have been delighted to take part in the sessions and, subject to funding, we look forward to continuing them next year.
Page 11
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
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, Llanidloes and here at Willow Globe, and have expanded by providing sessions in Hay-on-Wye with a taster session on 10th December. Regular sessions in Hay began in January 2025.
“ _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_ ”
Participant of online Have-A-Go
_“I really look forward to my morning with Shakespeare. it is great fun, lighthearted, lots of laughs and we learn a lot about the play and Shakespeare’s world.”_
Participant at Builth Have-A-Go
_“Involvement in the local community has greatly improved my mental health, giving me positivity through difficult times.”_
Community Theatre participant
_“Being part of Willow Globe Theatre Company has improved my mental and physical health in a myriad of ways. Being part of such a supportive and committed team has brought me a sense of purpose, confidence in myself to achieve positive things in my life, rich friendships and opportunities to meet people I never would otherwise. WGTC appeared in my life at a time when I was really confused, distressed and struggling with my anxiety and it has been vital in getting me back on my feet.”_
Community Theatre participant
Page 12
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Looking ahead to 2025, we are thrilled to be collaborating with Radnorshire Wildlife Trust to present our community play at their Pentwyn Farm site, as part of an exciting one-day arts and nature festival, _Midsummer Revels_ . In the autumn, we aim to build on the success of our _Express Yourself_ sessions, continuing this enriching initiative in partnership with Powys Teaching Health Board and Impelo. Additionally, we have been in discussions with the Fathom Trust to explore a partnership for their innovative _Making Well_ project. These collaborations reflect our ongoing commitment to fostering creativity, well-being, and community connection through the arts.
VOLUNTEERS: We continued to provide a warm welcome for our volunteers. In this rurally
isolated area, they greatly appreciated the chance to spend time on our open-air site, engaging in familiar routines such as wardrobe care, technical checks, and the maintenance of both the theatre and the Nature Trail.
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. We also had the pleasure of a visit from a TV company who came to film at the site one day in May.
RADNORSHIRE WILDLIFE TRUST: Our working relationship with RWT is flourishing. We have been planning a project with them and have already received approval for one of our grant applications in connection with it. We are very excited about the project - a one day arts and nature festival at the trust’s Wilder Pentwyn site, 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.
Volunteers working on props and costumes Page 13
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **Shakespeare Link’s charitable remit has been well served during 2024-2025**
- 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 our continued relationship Radnorshire Wildlife Trust.
- 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 connection with Community Theatre in other countries. One of the highlights of the season being the visit by Woodshed Arts from North Carolina and their interaction with Cardiff’s Everyman Youth Theatre
- Ongoing provision of our popular Have-A-Go Shakespeare series of workshops for senior citizens, both in person and online.
## **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.
Page 14
Shakespeare Link Report & Unaudited Financial Statements 3151 March 2025
SFIAKESPF.ItRE I,INK
ststement of responsibilities of the Tn
The trustees are responsible lor preparing the Trustees, Report and the Financial Statements in
accordance wrth applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102: The Financia Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounling Practice).
The law applicable to charitiès in England and Wales requires the trusteés 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
expenditLJre, of the charity for the year. In preparing thosè financial statements the trustees are
required to..
Select suitable accounting policies and then apply them consistently.
. Obsetve the methods and principles in the Charities SORP;
Make judgements and accounting estimates that a reasonable and prudent.
State whether applicable accounting standards and Statemènts of Récommended 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 &counting 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 lor
thè prevention and detection of fraud and other irregularitles.
The trustees are responsible for the maintenance and integrity of thè corporate and financial
information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of linancial statements may differ frorn 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 chanty but this entides them only to voting r¢ghts.
The Trustees have no beneficial interest in the charity.
Approved by the Truslees on 31 gJA 2•2pnd signed on their behalf by..
ara Stow- Chair of Trustees
Page15
Shakespeare Link Report & Unaudited Financi31 Statements 31st March 2025
%14I.Kf.qF F.I,KE LINK
Independent Examiner's Report to the Trustees of
Shakespeare Link
For the year ended 31st March 2025
I report to the Trustees on my examination of the accounts of Shakespeare Link for
the year ended 31st March 2025.
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 14515llb) 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:
l. Accounting records were not kept in respect of the Charity as required by
section 130 of the Act,. or
2. The accounts do not accord with those records; or
3. The accounts do not comply with the applicable requirements concerning the
form and content of the accounts set out in the Charities IAccounts 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.
T) C
Date". 3ic* Ock)PtsTr Joas
Davina Hutchinson ACMA
Garden Cottage
Brynwern Hall
Llanfihangel Brynpabuan
Builth Wells
LD2 3SE
Page 16
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **Statement of Financial AcAviAes**
## For the year ended 31[st] March 2025
||||**2025**|2024|
|---|---|---|---|---|
||Restricted|Unrestricted|**Total**|Total|
||£|£|**£**|£|
|**Income**|||||
|Grants2|16,135|4,500|20,635|35,000|
|DonaAons|-|9,368|9,368|7,286|
|Charitable acAviAes3|-|28,234|28,234|25,653|
||________|________|**________**|________|
|**Total Income**|16,135|42,102|58,237|67,939|
||________|________|**________**|________|
|**Expenditure**|||||
|Charitable acAviAes4|12,085|37,753|49,838|62,664|
|Governance|-|288|288|2,178|
||________|________|**________**|________|
|**Total Expenditure**|12,085|38,041|50,126|64,842|
||________|________|**________**|________|
|**Net Income/(Expenditure)5**|4,050|4,061|8,111|3,097|
||________|________|**________**|________|
|**Transfers between funds**|-|-|-|-|
||________|________|**________**|________|
|**ReconciliaAon of funds**|||||
|Funds brought forward|13,910|16,997|30,907|27,810|
||________|________|**________**|________|
|Funds carried forward|17,960|21,058|39,018|30,907|
||========|========|**========**|========|
All of the above results are derived from conAnuing acAviAes. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 12 to the accounts.
Page 17
Shakespeare Thk Report & Unaudited Financial Statements 31st March 2025
}ih.V.F%l F.AP.E LINK
tatement of Assets and Liabilities
Forthe year ended 31st March 2025
2025
2024
Fixed Assets8
10.433
13,910
Current Assets
Cash at bank and in hand
Debtors
Books
29.165
114
120
19,760
114
120
Total Current Assets
29.399
19,994
Current Liabllltleslo
Trade creditors
Accruals
16141
12(K)I
12,7971
121)01
Total CUrnt Llabllltles
18141
12,9971
Total Current Assets
28,585
16,997
Total Assets
39,018
30,907
Charity Fundsll
Restricted funds
Unrestricted funds
17,960
21,058
13,910
16,997
Total Charlty Funds
39,018
30.907
Approved by the Trustees on 31 &4?5 and signed on their behalf by:
Stow
Chair of Trustees
PwJe18
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **Notes to the Financial Statements**
For the year ended 31[st] March 2025
## **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 aYached 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 aYached 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**
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.
Page 19
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Gil Aid receivable is included in income when there is a valid declaraAon from the donor. Any Gil Aid amount recovered on a donaAon is considered to be part of that gil and is treated as an addiAon to the same fund as the iniAal donaAon unless the donor or the terms of the appeal have specified otherwise.
## **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 seYlement 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**
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 fiongs – 15 years straight line
Solar panels – 5 years straight line
Page 20
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
Items of equipment are capitalised where the purchase price exceeds £500.
## **j Debtors**
Trade and other debtors are recognised at the seYlement 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 seYle the obligaAon can be measured or esAmated reliably. Creditors and provisions are normally recognised at their seYlement 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 seYlement 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.
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.
Page 21
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **2 Income from Grants**
|**2**
**Income from Grants**|||||
|---|---|---|---|---|
||Restricted|Unrestricted|**2025 Total**|2024 Total|
||£|£|**£**|£|
|Mid Wales Music Trust|-|-|**-**|2,000|
|Llysdinam Trust|-|3,000|**3,000**|-|
|Gibbs Grant|-|1,500|**1,500**|-|
|ACW Express Yourself|14,135|-|**14,135**|-|
|CFW Midsummer Revels|2,000|-|**2,000**|-|
|People’s Postcode||||10,000|
|Foyle FoundaAon||||5,000|
|WAG Community FaciliAes||||18,000|
||________|________|**________**|________|
|**Total income from grants**|**16,135**|**4,500**|**20,635**|35,000|
||========|========|**========**|========|
|_Total 2024_|_25,000_|_10,000_|||
||_========_|_========_|||
All income from donaAons was unrestricted in the current and prior year.
## **3 Income from Charitable AcAviAes**
||Restricted|Unrestricted|**2025 Total**|2024 Total|
|---|---|---|---|---|
||£|£|**£**|£|
|Ticket sales|-|17,244|**17,244**|13,797|
|Workshops|-|3,786|**3,786**|4,156|
|Bar and cafe|-|4,871|**4,871**|3,885|
|Venue hire|-|1,700|**1,700**|2,580|
|Other revenue|-|633|**633**|1,235|
||________|________|**________**|________|
|Total income from charitable|||||
|acAviAes|-|28,234|**28,234**|25,653|
||========|========|**========**|========|
|_Total 2023_||_25,653_|||
||_========_|_========_|||
Page 22
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **4 Expenditure from Charitable AcAviAes**
||||**Total**|Total|
|---|---|---|---|---|
||Restricted|Unrestricted|**2025**|2024|
||£|£|**£**|£|
|Touring & producAon costs|6,371|7,564|**13,935**|18,286|
|Project management|2,000|-|**2,000**|-|
|Equipment purchases|-|850|**850**|1,939|
|Professional performers fees|-|5,250|**5,250**|7,642|
|Staf costs|-|5,494|**5,494**|6,903|
|Premises costs|-|4,395|**4,395**|5,888|
|MarkeAng|237|3,027|**3,264**|5,447|
|Bar & cafe|-|2,565|**2,565**|2,676|
|Repairs & maintenance|-|3,834|**3,834**|4,962|
|Insurance|-|1,112|**1,112**|1,988|
|Travel & subsistence|-|278|**278**|784|
|Phone, post & staAonery|-|1,122|**1,122**|904|
|Website & solware|-|1,211|**1,211**|690|
|Bank fees|-|460|**460**|469|
|Other expenses|-|591|**591**|609|
|Independent examinaAon|-|288|**288**|2,178|
|DepreciaAon|3,477|-|**3,477**|3,477|
||________|________|**________**|________|
|**Total expenditure**|**12,085**|**38,041**|**50,126**|64,842|
||**========**|**========**|**========**|**========**|
|_Total 2023_|_13,625_|_51,217_|||
||_========_|_========_|||
## **5 Net Movement in Funds** - this is stated aler charging:
||**2025**|2024|
|---|---|---|
||**£**|£|
|DepreciaAon|**3,477**|3,477|
|Trustees’ reimbursed expenses|**-**|-|
|Independent examiner’s remuneraAon|**288**|2,178|
||**========**|========|
Page 23
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **6 Staff Costs and Numbers**
The charity had no employees during the year.
The key management personnel of the charity comprise the Trustees, the two Directors and the AdministraAon Manager. None of the Trustees received any remuneraAon during the year (2024 nil). The Charity’s two Directors invoiced for their services during the year on a freelance basis and were paid £1,200 (Phil Bowen) and £1,200 (Sue Best). The AdministraAon Manager also invoiced for her services on a freelance basis and was paid £4,600 (2024 £4,300).
## **7 TaxaAon**
The charity is exempt from corporaAon tax as all its income is charitable and is applied for charitable purposes.
Page 24
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **8 Tangible Fixed Assets**
||**Solar Panels**||
|---|---|---|
|||**Total**|
||£|**£**|
|**Cost**|||
|At 1stApril 2024|-|**-**|
|AddiAons in year|17,387|**17,387**|
|Disposals in year|-|**-**|
||________|**________**|
||17,387|**17,387**|
||________|**________**|
|DepreciaAon|||
|At 1stApril 2024|3,477|**3,477**|
|Charge for year|3,477|**3,477**|
|On disposals|-|**-**|
||________|**________**|
||6,954|**6,954**|
||________|**________**|
|**Net Book Value**|||
|**At 31st March 2025**|**10,433**|**10,433**|
||**========**|**========**|
|At 31stMarch 2024|13,910|13,910|
||========|========|
## **9. Debtors**
|**9. Debtors**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Trade debtors|**114**|114|
|Accrued income|**-**|-|
||**________**|________|
||**114**|114|
||**========**|========|
Page 25
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **10 Creditors: amounts due within 1 year**
|**10 Creditors: amounts due within 1 year**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Trade creditors|**614**|2,797|
|Accruals|**200**|200|
|Deferred income|**-**|-|
||**________**|________|
||**814**|2,997|
||**========**|========|
## **11 Analysis of Net Assets Between Funds**
||Restricted|Unrestricted|**Total**|
|---|---|---|---|
|**Current Year**|Funds|Funds|**2024**|
||£|£|**£**|
|Tangible fxed assets|10,433|-|**10,433**|
|Current assets|7,803|21,596|**29,399**|
|Current liabiliAes|(276)|(538)|**(814)**|
||________|________|**________**|
|**Net assets 31 March 2025**|**17,960**|**21,058**|**39,018**|
||**========**|**========**|**========**|
||_Restricted_|_Unrestricted_|_Total_|
|_Prior Year_|_Funds_|_Funds_|_2023_|
||_£_|_£_|_£_|
|_Tangible fxed assets_|_13,910_|_-_|_13,910_|
|_Current assets_|_-_|_19,994_|_19,994_|
|_Current liabiliMes_|_-_|_(2,997)_|_(2,997)_|
||__________|__________|__________|
|_Net assets 31st March 2024_|_13,910_|_16,997_|_30,907_|
||_========_|_========_|**========**|
Page 26
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **12 Movement in Funds**
|||||Transfers||
|---|---|---|---|---|---|
|**Current Year**|At 1 April|||between|**At 31 March**|
||2024|Income|Expenditure|funds|**2025**|
||£|£|£|£|**£**|
|**Restricted Funds**||||||
|ACW Express Yourself|-|14,135|(8,503)|-|**5,632**|
|CFW Midsummer Revels|-|2,000|(105)|-|**1,895**|
|CAPITAL WAG Community|13,910|-|(3,477)|-|**10,433**|
|FaciliAes (solar panels)||||||
||________|________|________|________|**________**|
|Total Restricted Funds|13,910|16,135|(12,085)|-|**17,960**|
||________|________|________|________|**________**|
|**Unrestricted Funds**||||||
|Have-a-Go Fund|509|-|-|-|**509**|
|6 month Running Costs|15,000|-|-|-|**15,000**|
|Other General Funds|1,488|42,102|(38,041)|-|**5,549**|
||________|________|________|________|**________**|
|**Total Unrestricted Funds**|16,997|42,102|(38,041)|-|**21,058**|
||________|________|________|________|**________**|
|**Total Funds**|3,097|58,237|(50,126)|-|**39,018**|
||========|========|========|========|**========**|
Page 27
Shakespeare Link Report & Unaudited Financial Statements 31[st] March 2025
## **12 Movement in Funds (conAnued)**
|||||Transfers||
|---|---|---|---|---|---|
|**_Prior Year_**|_At 1 April_|||_between_|_At 31 March_|
||_2023_|_Income_|_Expenditure_|_funds_|_2024_|
||_£_|_£_|_£_|_£_|_£_|
|**_Restricted Funds_**||||||
|_Ashley Family FoundaMon_|_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_||||||
|_FaciliMes_|_-_|_18,000_|_(4,090)_|_-_|_13,910_|
|_Foyle FoundaMon_|_-_|_5,000_|_(5,000)_|_-_|_-_|
||__________|__________|__________|__________|__________|
|**_Total Restricted Funds_**|_2,536_|_25,000_|_(13,625)_|_-_|_13,910_|
||__________|__________|__________|__________|__________|
|**_Unrestricted Funds_**||||||
|_TB Fundraising Fund_|_450_|_-_|_-_|_(450)_|_-_|
|_Have-a-Go Fund_|_1,237_|_-_|_(728)_|_-_|_509_|
|_Art Council Wales_|_(283)_|_-_|_-_|_283_|_-_|
|_6 Month Running Costs_|_15,000_|_-_|_-_|_-_|_15,000_|
|_PCC WOW_|_(296)_|_-_|_-_|_296_|_-_|
|_Night Out ACW_|_439_|_-_|_-_|_(439)_|_-_|
|_Postcode Lobery_|_-_|_10,000_|_(10,000)_|_-_|_-_|
|_General Funds_|_8,728_|_32,939_|_(40,489)_|_310_|_1,489_|
||__________|__________|__________|__________|__________|
|**_Total Unrestricted Funds_**|_25,275_|_42,939_|_(51,217)_|_-_|_16,997_|
||__________|__________|__________|__________|__________|
|**_Total Funds_**|_27,810_|_67,939_|_(64,842)_|_-_|_3,097_|
||_========_|_========_|_========_|_========_|_========_|
## **13 Related Party TransacAons**
There were no related party transacAons in the current or prior period.
Page 28