Charity number: 1188117
THE HANDLEBARDS CIO
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE HANDLEBARDS CIO
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-17

THE HANDLEBARDS CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Kathryn Jones, Trustee
Harry Bresslaw, Trustee
Hilary Wynter, Trustee
Charity registered
number
1188117
Principal office
9 St. Lukes Drive
Orrell
Wigan
WN5 7AU
Accountants
Nyman Libson Paul LLP
124 Finchley Road
London
NW3 5JS
Page 1

THE HANDLEBARDS CIO
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annu81 report together with the finanei81 statements of the Charity for the year ending
31 March 2024.
Objectives and activities
a. Polieie$ and objectives
The Charity's objectives a￿ lo promote, maintain, improve and advance education and app￿cIatIon of the arts,
in p8rb'cul8r but not exclusively, the performing arts of theat￿, drama and music.
In setbng objectives and planning for activities, the Trustees have given due consideration lo general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit". running
charity IPB21'.
Achievements and performance
a. Main achievements of the Charity
This year has been good for The HandleB8rds as we successfully toured A Midsummer Night's Dream to over
70 venues across the UK, bringing highsualily theatre lo both urban and rural communities. This year also saw
us have our first ever extended run at an indoor theatre venue, with Much Ado About Nothing being hosted at
Shakespeare North Playhouse for a week. Tickets sold well and we will repeat this indoor run at SNP again next
year. The response from audiences both new and old continues lo be overwhelmingly positive, highlighting the
excellent work of our cast and creative teams and reminding us that there is still high demand for The
HandleBards irreverent and accessible versions of Shakespearean plays.
Financial review
a. Going coneem
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going COn￿M basis in preparing the financial statements.
b. Reserves policy
The Iruslees of the Charity aim lo maintain financial sustainability and public trust by holding free reserves
equivalent to six months of 8nnu81 expenditu￿. The current position al the reporb'ng dale of £3,484 means the
charity is not yel close lo achieving this aim, moslly due to its relatively short history of full activity. The Iruslees
are working to secure a higher level of fund retention going forward in order lo achieve this target in the future.
c. Financial results
In the Charity's financial results for the current year, il received donations plus gift aid tol811ing £26,04212023".
£33,796), as well as a grant income of £16,00012023. £55,815). Total income was £277,26612023. £288,737)
and expenditure during the period was £476,911 12023". £115,472>, leaving 8 deficit of £199,64512023." surplus
of £173,26518nd £3,484 carried fotward in funds. All funds We￿ unrestricted. The rise in costs is due to an
aecrual for the estimated total value of uninvoiced fees for activity up to the reporting date.
Page 2

THE HANDLEBARDS CIO
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
a. Constitution
The Handlebards CIO is a registered charity, number 1188117, and is constituted under a CIO Foundation
constitution. It has bèen ￿gIstered with the Charity Commission since 21 February 2020.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and under the terms of the
constitution.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related lo the
operations and finances of the Charity, and are satisfied that systems and procedures are in place to mib'gale
exposu￿ to the major risks.
Plans for future periods
We plan on continuing lo lour HandleBard shows to outdoor venues and small seale theatres across the UK in
the eoming years. We will continue building relationships new partners with the aspiration of securing a co-
production with a theatre building and touring lo midscale theatre venues. We are now aiming to have a
reserves policy of 6 months expenditure and will be working towards securing this over the next financial year.
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with
applieable law and United Kingdom Accounting Standards Iunited Kingdom Generally Aeeepled Accounting
Practieel.
The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for
each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources
and application of resources, including its income and expenditure, for that period. In preparing these financial
statements, the Trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021",
make judgments and accounting eslimales that are reasonable and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any
material departures disclosed and explained in the financial stalemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain
the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity
and 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 Trust deed. They 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.
Page 3

THE HANDLEBARDS CIO
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Approved
by
order
of
the
members
of
the
board
of
and signed on their behalf by".
Trustees
on
0113012025 PST
ewL£glAMJ
Swner ID.. DGPQOLDJ5G...
Kathryn Jones
Signer ID.. MF4XXMZONO...
Harry Bresslaw
Page 4

THE HANDLEBARDS CIO
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent Examiner's Report to the Trustees of The Handlebards CIO {'the Charity'}
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March
2024.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'lhe 2011 Acl'l.
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 the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Since the Charity's gross income ex￿eded £250,000 your examiner musl be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member
of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come lo my allenlion in connection with the
examination giving me cause lo believe that in any material respect..
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 conlenl of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give
a 'true and fairf view which is not a maller considered as part of an independent examination.
I have no COn￿rn5 and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's
Trustees those matters l am required lo stale lo them in an independent examiner's report and for no other
purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than
the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Dated.. 31 January 2025
Andrew Thomas
ACA
Nyman Libson Paul LLP
124 Finchley Road
London
NW3 5JS
Page 5

THE HANDLEBARDS CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Restricted
funds
2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other income
6,000
36,042
235,201
23
42,042
235,201
23
89,611
199,104
22
Total income
6,000
271,266
277,266
288,737
Expgnditure on:
Charitable activities
6,000
470,911
476,911
115,472
Total expenditure
6,000
470,911
476,911
115,472
Net movement in funds
1199,6451
1199,6451
173,265
Reconciliation of funds:
Totsl funds brought fomard
Nel movement in funds
203,129
1199,6451
203,129
1199,6451
29,864
173,265
Total funds carried forward
3,484
3,484
203,129
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 8 10 17 form part of these financial statements.
Page 6

THE HANDLEBARDS CIO
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Intangible assets
Investments
10
11
1,313
2,143
1,314
2,144
Current assets
Debtors
Cash al bank and in hand
12
402,026
14,767
180,889
45,746
416,793
226,635
Creditors.. amounts falling due within one
year
13
1414,6231
125,6501
Net current assets
2,170
200,985
Total net assets
3,484
203,129
Charity funds
Reslricled funds
14
Unrestricted funds
14
3,484
203, 129
Totsl funds
3,484
203, 129
The financial statements were approved and authorised for issue by the Trustees on
0113012025 PST
and signed on their behalf by..
S￿￿er ID. DGPQOLDJ5G..
Signer ID.. MF4XXMZONO...
Kathryn Jones
Harry Bresslaw
The notes on pages 8 10 17 form part of these financial statements.
Page 7

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The Handlebards CIO is a Charitable Incorporated Organisalion, registered in England and Wales with
the Charity Commission. The address of its registered office is 9 St Lukes Drive, Orrell, Wigan, WN5
7AU.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021-
Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The Handlebards CIO meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated In the
relevant accounting policy.
2.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has
adequate resources to continue in operational existence for the foreseeable future. For this reason,
they continue to adopt the going concem basis in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entillemenl to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Grants and donations are included in the statement of financial activities on a receivable basis.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised On￿ there is a legal or constTuclive obligation lo transfer economic
benefit lo a third party, it is probable that a transfer of economic benefits will be reqLJired in
settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
2.5 Intangible assets and amortisation
Intangible assets are capilalised and recognised when future economic benefits are probable and
the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible
assets are measured at cost less any accumulated amortisalion and any accumulated impairment
losses.
Page 8

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies Icontinuedl
2.5 Intangible assets and amortisation {continued}
Amortisalion is provided on intangible assets at rates calculated lo write off the cost of each asset on
a straighl-line basis over its expected useful life.
Amortisation is provided on the following basis..
Website development
25 Q/0
2.6 Debtors
Trade and other debtors are recognised at the selllemenl amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the dale of acquisition or opening of the deposit or similar
account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation 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 selllement, and the
amount of the settlement can be estimated reliably.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are initially recognised at transaction value and
subsequently measured al their settlement value with the exception of bank loans which are
subsequently measured al amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity lo the fund in respect of the year.
2.11 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Restricted fvnds are funds which are lo be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each reslricled
fund is sel out in the notes lo the financial statements.
Page 9

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Restricted Unreslricled
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
Grants
26,042
10,000
26,042
16,000
33,796
55,815
6,000
6,000
36,042
42,042
89,611
Totsl 2023
55,815
33,796
89,611
Income from charitable activities
Unreslricled
funds
2024
Total
Jnds
2024
Total
funds
2023
Theatrical productions
235,201
235,201
199,104
Other incoming resources
Unreslricled
funds
2024
Total
funds
2024
Total
funds
2023
Bank interest received
23
23
22
Page 10

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Charitsble expenditure
426,983
49,928
476,911
115,472
Total 2023
63,434
52,038
115,472
Anatysi$ of direct costs
Total
funds
2024
Total
funds
2023
Outreach programme
Thriving Community programme
Twelfth Night
Romeo & Juliet
300
18,939
33,333
10,862
900
A Midsummer Nights Dream
Production staff costs
4,849
6,289
26,391
2,000
386,554
Venue hire costs
Venue storage costs
Outsourced production fees
426,983
63,434
Page11

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities Icontinuedl
Analysis of support costs
Total
funds
2024
Total
funds
2023
Staff costs
Amortisation
40,165
830
37,363
831
Bank charges
Accountancy fees
Computer costs
Subseriplions
Consulting
Insuran
Bad debts
Sundry expenses
34
2,400
907
250
2,800
2,181
105
438
500
2,450
950
3,145
6,300
308
49,928
52,038
Independent examinerfs remuneration
The independent examine¢s remuneration amounts to an independent examiner fee of £1,000 (2023
- £900), and accountancy fee of £1,50012023 - £1,500).
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution lo defined contribution pension schemes
39,443
36,400
277
722
686
40,165
37,363
The average number of persons employed by the Charity during the year was as follows..
2024
No.
2023
No.
Employees
Page 12

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
staff costs {continued)
No employee re￿iVed remuneration amounting lo more than £60,000 in either year.
Key management personnel
Total remuneration paid lo key management was £40,16512023.' £37,3631.
Trustees. remuneratlon and expenses
During the year, no Trustees re￿iVed any remuneration or other benefits.
During the year ended 31 March 2024, no expenses were reimbursed or paid direcuy to Trustees.
10. Intanglble assets
Website
development
Cost
At 1 April 2023
3,321
At 31 March 2024
3,321
Amortisation
At 1 April 2023
Charge for the year
1,178
830
At 31 March 2024
2,008
Net l)ook value
At 31 March 2024
1,313
At 31 March 2023
2,143
Page 13

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11.
Fixed asset investments
Investments
in subsidiary
companies
Cost or valuation
At 1 April 2023
At 31 March 2024
The investment represents the book value of 100010 of the share capital of the company Cycling
Shakespeare Limited, registered on Companies House with number 12516789.
12. Debtors
2024
2023
Due within one year
Trade debtors
4,645
397,381
3,950
175,000
1,939
Amounts owed by group undertakings
Prepayments and accrued income
402,026
180,889
13. Credltors: Amounts falllng due wlthln one year
2024
2023
other laxalion and social security
Pension fund loan payable
Other creditors
Accruals and deferred income
3,003
146
20
1,049
413,554
22,500
414,623
25,650
Page 14

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Statement of funds
statement of funds - current year
Balan￿ at
31 March
2024
Balance al 1
April 2023
Income Expenditure
Unrestricted funds
General Funds- all funds
203,129
271,266
1470,9111
3,484
Restrlcted funds
Reslricled Funds- all fvjnds
6,000
16,0001
Total of funds
203,129
277,266
1476,9111
3,484
Restricted funds relates to grants received from Arts Council England. The funding was spent on
productions.
Statement of funds - prior year
Balance at
31 March
2023
Balance at
1 April 2022
Income Expenditure
Unrestricted funds
General Funds- all funds
29,864
232,922
159,6571
203,129
Restricted funds
Thriving Community Programme
55,815
155,8151
Total of funds
29,864
288,737
1115,4721
203,129
Page 15

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15. Analysis of net assets between funds
Analysis of net assets between funds - current period
Unreslricled
funds
2024
Total
funds
2024
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
1,313
1,313
416,793
1414,6231
416,793
1414,6231
Totsl
3,484
3,484
Anatysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
2,143
2,143
226,635
(25,6501
226,635
125,6501
Total
203,129
203, 129
16.
Penslon commltments
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the group to the fund and amounted lo £722 12023.. £6861. £126
12023.. £1461 was payable to the fund at the reporting dale and are included in creditors.
17. Related party transactlons
During the year, the CIO provided a loan of £222,381 12023.. £175,000) to its subsidiary company.
£397,381 12023.. £175,000) was due at the reporting dale. There is no interest accruing on this balance.
The trustees will take measures lo ensure this balance is cleared in the next financial year.
Page 16

THE HANDLEBARDS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18.
Principal subsidiaries
The following was a subsidiary undertaking of the Charity..
Name
Company
number
Registered office or principal Principal activity
place of business
Cycling Shakespeare Limited
12516789
Same as parent
Trading subsidiary
{Theatrical
produclionsl
Class of
shares
Holding
Included in
consolidation
Ordinary
The financial results of the subsidiary for the year were..
Name
Income
Expenditure
Net assets
Cycling Shakespeare Limited
401,815
252,019
4,336
Page 17