Charity number: 1188117 THE HANDLEBARDS CIO UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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 8-18 THE HANDLEBARDS CIO REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Kathryn L Jones, Trustee Harry A B Bresslaw, Trustee Hilary J Wynter, Trustee Charity reglstered number 1188117 Prlnclpal offlce 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 2025 The Trustees present their annu81 report together with the financi81 statements of the Charity for the year ending 31 March 2025. Objectives and activities a. Polieies and objectives The Charity's objectives are lo promote, maintain, improve and 8dv8nce education and appreciation of the arts, in p8rb'cu18r but not exclusively, the performing arts of theatre, dram8 and music. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidanee 'Public benefit." running a charity IPB21'. Achievements and performance a. Main achievements of the Charity During the year, the company successfully toured two Shakespeare productions". The Comedy of Errors and A Midsummer Night's Dream. The Comedy of Errors toured widely across the UK, performing predominantly 8t outdoor venues. A Midsummer Night's Dream was toured using an electric van as part of our commitment lo ducing its environmental impact and included 8 week-long run at Shakespeare North Playhouse. The performances at Shakespeare North Playhouse sold exceptionally well. We p18n to eontinue to develop our relationship with shakespea￿ North Playhouse and will co-produce brand-new produelion with the venue next year. Across the summer season, the productions toured lo over 100 venues throughout the UK, bringing high-qU81ity theatre to 8 diverse range of cities, towns, and villages. In the autumn, we toured a two-hander adaptation of Macbeth to schools across the UK. This production offered a light-hearted and accessible introduction to the p18y, SUPPOrted by accompanying Shakespeare workshops. The schools tour was parti811y subsidised by donations received from audiences during the summer tours. Feedback from both teachers and students was overwhelmingly positive, and we p18n to make a schools tour regular part of our annual programme. Financial review a. Going coneem After making appropriate enquiries, the Trustees have a reasonable expec18tion 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 suslainabilily and public trust by holding f￿e reserves equivalènt lo six months of annual expenditure. The current position 8t the reporting d8te of £237,043 means the charity is Cur￿n11Y achieving this aim. The trustees are working to secure 8 consistent level of fund retention going forward. Page 2 THE HANDLEBARDS CIO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 c. Financial results In the Charity's financial results for the current year, it ￿te1Ved donations plus gift aid lotalling £2,050 12024". £26,042), as well as a grant income of £30,15412024." £16,000). Total income was £291,94712024". £277,266) and expenditure during the period was £57,90412024". £476,9111, leaving a surplus of £234,04312024". deficit of £199,6451 and £237,527 carrièd forward in funds. Al funds earried forward were unrestricted. The decrease in costs is due lo an accrual for the eslim8ted total value of uninvoiced fees in the previous financial period. Structure, govemance and management a. Constitution The Handlebards CIO is 8 registered charity, number 1188117, and is constituted under a CIO Foundation constitution. It has been ￿gIStered with the Charity Commission since 21 February 2020. b. Methods of appointment or election of Trustees The man8gemenl 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 mitigate exposu￿ to the major risks. Plans for future periods We plan on continuing lo lour HandleBard shows to outdoor venues and small sc81e theatres across the UK in the eoming years. We will continue building ￿lationShipS new partners with the aspiration of securing 8 CO- production with a Ihe8tre building and touring to midsc81e 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 ye8r. Page 3 THE HANDLEBARDS CIO TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the fin8nci81 statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Aecepled Accounting Practice). 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 stale 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 financi81 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 estimates that are reasonable and prudent", stale whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial statements., 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. Approved by order of the members of the board of Trustees and signed on their behalf by.. Signer ID". NQWQIB3BHI... Signer ID. IDS5NTLBZL.-. Kathryn L Jones Hilary J Wynter Dale.. 28-01-2026 PST 29-01-2026 PST Page 4 ## **THE HANDLEBARDS CIO** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** ## **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 2025. ## **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 2011 ('the 2011 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner's Statement** Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 to my attention in connection with the examination giving me cause to 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 content of 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. 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 state to the Charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Dated: 29 January 2026 Andrew Thomas ACA Nyman Libson Paul LLP 124 Finchley Road London NW3 5JS Page 5 **Document ID: 2ad1ceab38e6667c0116b9fe1dbfdb089ff707724ea2391f3ea86a786b1d5e7f** THE HANDLEBARDS CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Restricted funds 2025 Unrestricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charitable activities Other income 30,000 2,204 259,729 14 32,204 259,729 14 42,042 235,201 23 Total income 30,000 261,947 291,947 277,266 Expgnditure on: Charitable activities 30,000 27,904 57,904 476,911 Total expenditure 30,000 27,904 57,904 476,911 Net movement in funds 234,043 234,043 1199,6451 Reconciliation of funds: Totsl funds brought forward Nel movement in funds 3,484 234,043 3,484 234,043 203,129 1199,6451 Total funds carried forward 237,527 237,527 3,484 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 8 10 18 form part of these financial statements. Page 6 THE HANDLEBARDS CIO BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Intangible assets Investments 10 11 483 1,313 484 1,314 Current assets Debtors Cash al bank and in hand 12 666,846 10,460 402,026 14,767 677,306 416,793 Creditors.. amounts falling due within one year 13 1440,2631 1414,6231 Net current assets 237,043 2,170 Total net assets 237,527 3,484 Charity funds Reslricled funds 14 Unrestricted funds 14 237,527 3,484 Total funds 237,527 3,484 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Si9nei ID." NQWQIB3BH1... s￿n￿r ID.. IDS5NTLBZL... Kathryn L Jones Hllary J Wynter Dale.. 28-01-2026 PST 29-01-2026 PST The notes on pages 8 10 18 form part of these financial statements. Page 7 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General information The Handlebards CIO is a Charitable Incorporated Organisation, registered in England and Wales with the Charity Commission. The address of ils registered office is 9 St Lukes Drive, Orrell, Wigan, WN5 7AU. Accounting policies 2.1 Basis of preparation of financial ststements The financial stslements have been prepared in accordan￿ with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 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 PLJblic benefit entity under FRS 102. Assets and liabilities are Initially recognised at historical cost or transaction value unless olhenNise staled in the relevant accoLJnting 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 con￿rn 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 amoLJnt 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 servi￿. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is recognised On￿ there is a legal or constructive obligation lo transfer economic benefit lo a third party, it is probable that a transfer of economi¢ benefits will be required in settlement and the amount of the obligation can be measured reliably. ExpenditLJre is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs inVo￿ed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Page 8 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 2.4 Expenditure {continued) 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 amortisation and any accumulated impairment losses. Amortisalion is provided on intangible assets al 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 net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi 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 selllemenl, 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. Page 9 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Icontinuedl 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 restricted fund is set out in the notes lo the financial statements. Income from donations and legacies Restricted Unreslricled funds funds 2025 2025 Total funds 2025 Total funds 2024 Donations Grants 2,050 154 2,050 30,154 26,042 16,000 30,000 30,000 2,204 32,204 42,042 Totsl 2024 6,000 36,042 42,042 Income from charitablg activities Unreslricled funds 2025 Total Jnds 2025 Total funds 2024 Theatrical productions 259,729 259,729 235,201 Page 10 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 other incoming resources Unreslricled funds 2025 Total funds 2025 Total funds 2024 Bank interest received 14 14 23 Page11 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Charitsble expenditure 42,621 15,283 57,904 476,911 Total 2024 426,983 49,928 476,911 Anatysi$ of direct costs Tot81 funds 2025 Total funds 2024 Thriving Community programme A Midsummer Nights Dream Production staff costs 900 4,849 6,289 26,391 2,000 386,554 Venue hire costs 41,421 1,200 Venue storage costs Outsour￿d production fees 42,621 426,983 Page 12 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Icontinuedl Analysis of support costs Total funds 2025 Total funds 2024 Staff costs AmortlS8tion 5,047 830 40,165 830 Bank charges Accountancy fees Computer costs Subscriptions Consulting Insuran Bad debts 5,600 2,181 2,800 2,181 105 438 1,619 2,450 950 15,283 49,928 Independent examiner's remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £1,000 (2024 - £900), and accountancy fee of £1,50012024 - £1,500). staff costs 2025 2024 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 5,000 17 39,443 30 722 5,047 40,165 The average number of persons employed by the Charity during the year was as follows.. 2025 No. 2024 No. Employees Page 13 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 staff costs {continued) No employee re￿iVed remuneration amounting lo more than £60,000 in either year. Key management personnel Total remuneration paid to key management was £5,04712024'. £40,165). Trustees. remuneratlon and expenses During the year, no Trustees re￿iVed any remuneration or other benefits. During the year ended 31 March 2025, no expenses were reimbursed or paid direcuy to Trustees. 10. Intanglble assets Website development Cost At 1 April 2024 3,321 At 31 March 2025 3,321 Amortisation At 1 April 2024 Charge for the year 2,008 830 At 31 March 2025 2,838 Net l)ook value At 31 March 2025 483 At 31 March 2024 1,313 Page 14 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Fixed asset investments Investments in subsidiary companies Cost or valuatlon At 1 April 2024 At 31 March 2025 The investment represents the book value of 100% of the share capital of the company Cycling Shakespeare Limited, registered on Companies House with number 12516789. 12. Debtors 2025 2024 Due within one year Trade debtors 1,965 664,881 4,645 397,381 Amounts owed by group undertakings 666,846 402,026 13. Creditors: Amounts falling due within one year 2025 2024 Other laxalion and social security Pension fund loan payable Other creditors Accruals and deferred income 904 20 1,049 413,554 439,352 440,263 414,623 Page 15 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Statement of funds statement of funds - current year Balan￿ at 31 March 2025 Balance al 1 April 2024 Income Expenditure Unrestricted funds General Funds - all funds 3,484 261,947 127,9041 237,527 Restrlcted funds Reslricled Funds- all funds 30,000 130,0001 Total of funds 3,484 291,947 157,9041 237,527 Reslricled funds relates to grants received from Arts Council England. The funding was spent on productions. Statement of funds - prior year Balan￿ 8t 31 March 2024 Balan￿ at 1 April 2023 Income Expenditure Unrestricted funds General Funds 1 203,129 271,266 1470,9111 3,484 Restricted funds Restricted Funds- all funds 6,000 16,0001 Total of funds 203,129 277,266 1476,9111 3,484 Page 16 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. Analysis of net assets between funds Analysis of net assets between funds - current year Unreslricled funds 2025 Total funds 2025 Intangible fixed assets Fixed asset investments Current assets Creditors due within one year 483 483 677,306 1440,2631 677,306 1440,2631 Totsl 237,527 237,527 Anatysis of net assets between funds - prior year Unrestricted 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 Total 3,484 3,484 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 lo the fund and amounted lo £3012024.. £7221. £6 12024.. £1261 was payable to the fund al the reporting date and are included in creditors. 17. Related party transactlons During the year, the CIO provided a loan to its subsidiary company. £664,881 12024.. £397,381) was due at the reporting date. There is no interest accruing on this balan￿. The Iruslees will take measures to ensure this balance is cleared in the next financial year. Page 17 THE HANDLEBARDS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 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 22,809 293,972 {266,8271 Page 18 Signature Certificate Enveknpe Ref..1b56b91•82¢d424636dlCff3¢59da36236•330a(l) Athhor.. Graham Lynn Creation Date.. 28 Jan 2026. 06..36..48. PST Com￿e￿on Dale 29 Jan 2026. 04..11.'46. PST Document Delails: Name: Handlebards- Leuer of Representsuon Type.. Docurnent Ref.. 3fcObed39c9c91048eb87d49fdc7aeb5ea94e05a52b0479b974cb99dof11 a6da Document Total Pages.. Name: The HandleBards accounts 31.03.25 Ifor signing) Type.. Documeni Ref.. 2a￿1￿ab3Be6667cOl16bgfe1drjfdb08gff7Q7724ea239l13ea86a786b1d 5e7f Documeni Total Pages., 20 Document Signed By.. Name.. Lindsay Jones kljones193@gmail.com Ernail.. Signer ID.. NQWQIB3BH1... 2a12..f41..1446..b700..34d4..4cf1.'ae07..3133 Location.. LONDON, ENG IGBI Date.. 28 Jan 2026, 12..22.50, PST Consent.. es￿nature Consent Accepted Security Level.. Email Name.. Hilary Wynter hilarywynter@yahoo.co.uk Email.. 92.40.169.111 Signer ID.. ID$5NTLBZL.- Location.. LONDON, ENG IGBI Date.. 29 Jan 2026, 04..11..46, PST Conseni.. eSHJnawre Conseni Accepted Security Level.. Email Document Hisw.. Envelope Create