EAST LONDON SHAKESPEARE FESTIVAL LIMITED REPORT AND FINANCIAL STATEMENTS 29th February 2024 OMPANY REOISTRATION NUMBER.. 12459062 CH￿RITy REOISTRATION NUhlBER 1203349 Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 8JE East London Shakespeare F•stlval Limlted Legal and Administrative Informatlon 29th February 2024 Company Registered Number 1245go62 Registered Charity Numb 1203349 Regislerad Office Flat 4 Endlebury Court Endlèbury Road London E4 6QE Diractors and Tmstees Elizabeth Mary Shaw Danielle Elise Moseley Anna Ruth Jordan Examiner Frank S Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE Page I East London Shake5pear• Festival Llmited Dlrectors and Trust•è$ Report The tnJst6e$, who arè also dir￿tOrS for the purposes of the Companie8 Act, have pleasure in piesenling thèir report and thè finanaal statements of the charty forthe year ersding 29th February 2024. Director5 Responsibilitles Company Law which is also applieaL)le lo tharllable companies in England and Wala$ requires th& directors. who are also trustees of the company, to prepare financial statements for each finèncial year whi¢h give a true and fair view of the statè of affairs of the ￿MpanY and of the results of company lor that partod. In preparing those finanual stalemants, the directorsltrustees are required to." 8elect $urtable accounting policies and then 8pply Iham ￿nSIStentIy. observe the mèthods and prin¢iples in the Charitie8 SORP make judgernents and estimates that are r08sonable and prudent state whether applicable UK accounting $landards have been fdlowed, subject to any matori81 departures diselosed and èxplained in the financial statements- prepare the financial statements on the uoing COn￿M basis unless il is inappropri818 to presume that tha company will continue in business. The direclor8llruste&$ are responsible for keeping proper aco)untino records which disclose w+th reasonable 8￿uracY 91 any time the financial position of the company and to enable them tts ensure that the Iinancial ststemènls comply wlh thè Companias Act 2006. They are also responsible for 8afeguaiding the ass6ts of the company and hence for taking Teasonable steps for the prevention and detection ol fraud and other iiregularitifrs. Prfn¢lpal Aetlvity and Charitablè Objects To advance the art5 in East London and surrounding areas and other areas the trustees deèm fil, in parttcular thè dramatic and performing arts, by producing and staging perforrllan￿8 of th& works ol William Shakespeare. To advance publ1¢ edueafyon and appreciation of the dramatic and performing arts, including skge perfom)ance and Product￿￿. by providing apwentice8hip and training schemes and workshops. and by providing opportunthes for people of all age8 to participate in th8 production of amateur performan￿$ and creah.ve engagement activities. including acting, directs"ng, music performants. movemènt performance, craft-maknng, and producing of the*rical performan¢es and 'back Stage. glements of $lagecraft. Organlsation and Constitution The Company w88 inc0rwra￿ on 12th Febuary 2020 and is wverned by Ils Memorandurn and Articles of Assoastion. Company R•gi*artion number 124sooe2 Th8 ￿rnpanY is limited by guarantge and has Share tsprtal. The guarantees of individual members ar8 limit￿ to £1. The company is a reg+stered charity, number 1203349. The directors of the company fomi its Commrttee of Managernent and Goveming Body and arè empowered to act as necessary in order forthe o)rnpany to fulfil its obj8¢b"ves. Directors may be apwnted by the members of the company or fdlow directors at any lime. Registèred Off￿6.. Flat 4, Endlelxtry Court, Endlebury Road, LorKlon E4 6QE In February 2024 th& company bècam& a Registered Charity. Publlc Benefit The Truste85 wnfirm that in compiling this rèport they have had due royard lo the guidan￿ on public benefit issued by the Charity Cornmisslc￿ in compliance with the duty set out in section 4 of the Charitiés A¢t 2006. Page 2 East London Shakespeare Festlval Limited Dlrectors and T￿￿teeS Report Key Adivltles.. Perfomiances.. In the year, ELSF successfully toured Rorneo and Juliet, presenting live theatre to audiences acrcés 14 outdoor parks and community venues throughout East London. This in((iatwe providaj acce55ible arts experiences to communities with limited exposure to live theatre. Key metrics Include-. Total Performances". Audien¢e Reached.- 3,800 attendees Workshops.. Mask-making sesslons engaged 560 children (ages 3-1 ti. School Matinees and pre-shows workshops.. 600 students (ages 7-161 attended heavily reduced shows Community Ensemble.. 16 local residents joined the professional cast in 10 performances in LO￿lon Borough Wallham Forest ILBWF, actively engaging with theatre produdion. Apprenticeships and Work Exwience.. 3 paKI apprentices and 2 work experience students supported various roles wrthin the lour. Community Partnerships.. ELSF collaborated with over 150 I￿al businesses and organisations. providtng 21 pald professional rdes. Communlty Engagement Programme & Educatlon ELSF'S community engagement induded extenswe partnerships across East London, wth" over 150 b¢al councils, schools, and cultural organisations involved. Highlights ind￿le.. Young Audiences.. 260 young children participated in workshops, and 600 students attended school mab"nees. Community Cast.. Local participants engaged In workshops and performances, fostering deeper communty ties. Professional Development.. 3 paid apprentice Toles and 2 work experience Positions provided practical training in theatre. Launch of ELSPS Young Company (Ages 7-171 The ELSF Young Compar>y launched with 25 young participants. who attended weekly. inclusive workshops designed lo btjild skills in actsng, performance. and Ihealre-making. Performance Opportunities.. Partlcipanls performed an abridged A Midsummer NKJht's tlream as an end-of-term sharing. Professional Conne¢tv)ns- Young Company memters accessed industry connections through apprenliceshlps, rehearsals, and professional events, encouraging growth as young artists and building ¢onneclions within the theatre communty. Financial Revièw Overvlew.. Finan¢lal Overview For the year ending February 29 th 2024, the chartys financial petformance reflects strong engagement with the community successful delivery of ils afts'stic and educatic￿al initia)vets. Income: The ch￿lty generated a total income of £69.844 a lincrease] compared to £67.208 last year. Expenditure.. Total expondilure for the year was £58,645 , rellecling costs associated wlh the production of perfomian¢es, the running ￿)$18 and set-up cif The Youn9 Company,Worksf￿ps. and ¢ommL*nity engagement a¢tiwties. Page 3 East London Shakespeare Fe$￿val Limlted Dlrectors and Trustees Report Net Pc*ltlon." The chartys net assets for 2024 were £19,761 and fly 2023 were £8,562. Our reserves are in line with oui policy, ensuring financial stability for ftjlure projects and initiatives, including, participatory & educatK)nal engagement activiti'es for young people and local residents and Shakspeare prodUCti￿s. ELSF'S funding sources include.. Ticket income from 'Romeo &," Juliet, and Young Company participation LBWF Ward Funding LBWF coundl Fellowship SquaTe funding In-kind support from key community partners. induding free or reduced-cost rehearsal space. outreach, and ma￿etIng support Re$eNes Pollcy.. Our reseNe balan￿ remains strong at £19,761 supportlng our ability to plan for future prt)Juctions, continue our commurMtyeng8gement programmes and outreach, and weather any unexpected challenges. Future Funding Sour¢e$ To ensure long-term growth a￿1 finanaal stability, ELSF is focusing on the following funding strategies- Expansitsn of summer Annual Toui.- ELSF plans to expand the tour to an additional 6 venue8. increasing both in¢xtme potential and audience reach to support our ongoing actNilies. Spon$orship: Positive discussions are ongoing wth local businesses that share ELSF'S values, with several showing interest in sponsoring productions and communrty initiative6 Grant Diverslfication.. ELSF continues to a¢lively pursue a broader range of g￿nIs, specffically those focused on arts education. youth Llevelopmenl. and community arts. from charitable trusts and foundations. Arts Council England Funding.. ELSF anticipal& further support from ACE Strengthening Local Partnershlps.- The Cha￿tY is committed lo developing deeper partnerships wth local ¢ounrils and community organisath.ons to sustain and expand our aclivilies. Risk Management Ri$ks: Re￿vance of Shakespeare and Quality of Productions-. While Shakespeafe is bmdely sludled, it may be perceived as 1 ouldaled or InaC￿ssIble to some audiences. Community Engagement". Engaging diverse underrepresented communities and attraclir¥J new participants to the 2 Young Company could be a challenge Ensuring Quality and Inclusivity of New Youth and Education Activities". It is important to ensure that the Young 3 Company and other educational activities are welcoming, accessible, and inclusNe for new participants. Logistical and Environmental Risks.. OuldoDr performances and expan&on into new venues present risks such as 4 adverse weather, cast morale, and performan¢e endurance. FlndiiLrdi ￿lESs1)Ill￿. Maintaining affordal￿e ticketing and free partioipalory programmes while ensuring the project S remains financially viable. Mitigation Measures: Relevance &,. Quality.. ELSF 's contemporary muM'_disciplined performances have gamered highly positive feedback 1 from audiences. reviewers, schools and award nominations for its professional. high-energy productions. including 'Romeo &,. Juliet, &,. Young Company perf(xmance8. 2 Engagement Strategies.. ELSF'S extensive outreach & collabc¥alions. alongside inclusivity ITaining for staff, ensure that dNerse communities and new Young Corllpany participants are welcomecl & supported. New Youth &Education activities." ELSF priorilises indusiwtythrough acces&ble workshops, c¥Jlreach lo under- represented communrties, and targeted marketing Strateg￿S. 4 Logistical Plar>ning.' to manage expansion and logistics of. ELSF ukn"lises experienced teams and ffexilme set design5. Financial Accessibility.. ELSF continues to offer Pay What You Can performan(ts, Iow-COSt participation fees for the 5 Young Company, free communty activ￿"es, and concession b"okels for studènts, over 65's and low-lncorne families. ELSF also bring culture to commuriities. doorstep: lo￿1 venues, reducing travel costs. Page 4 East London Shakespeare Festival Limitod Dlroctors and Trustees Report InGlu$ive Rehearsal, Classes Workshop Practlces: ELSF experienced al running inclusive community pr(¥e¢ts- Community Casts and The Young Company- wlh many prior CC memberslApp Actors having addttional needs in¢l.- dyslexa, autism. ADHD, Tourette's, rewvering alcohdic. ELSF champion &- put adjuslmenls in place for piegnanl performers.. 3 pregnanl women in prodLfcti'ons since launch in 2021 In¢lusivty training for teams to ensure safelwelcoming environment for audienceslcommunity partKipanls Collaborative Engagement- ELSF engages in continuous feedback and collaboration with o)rnmunity partners, pr(4ect participants. councils, Cultural organisalions. schools and lunding bodies. This engagement ensures that programming is respDnsive to community needs and preferences. Future Plans, Community Benefits &," Stratèglc Growth.. Expanded Tour Reach wth an emphasis on areas wlh limited access to live perfomian¢e and under-represented (x)mmunilies'. ELSF increased its tr)ur footprint in 2024 by bringing Much Ado AboLrt Nothing lo 17 venues, including parks anLY communrty spaces In other areas of London, this expansion was supported by ACE, new areas included.. Newham and Bromley and London. enhancing a¢¢essibilty and broadening rts audience reach. Extended Reach in 2025". By 2025, the lour is expected to grow lo 20 outijoor venues, including ￿ tEyond London, focusing on underserved areas with limited access lo live theatre Expansion of ELSF'S successful Apprentice Scheme by securing funding to add apprenticeships in stsge management and technical roles, increasing skill-building opportunities for young participants in diverse areas of theatre production. Apply for funding lo addrtDnal Trust and foundations to support community projects Lega¢y and Feedback Collection: Posl-project reviews. community feedback (via Jotforms and consullatronsl. and ongoing dialogue with partners will ensuie that ELSF'S projects continuously evolve lo align with community needs. maximising long-leim benefits and engagement. Dlrectors and Trust•es The direclDrsllrustees sel out below have held office during the ￿ole year of thi8 report unless otherwise slated-. Elizabeth Mary Shaw Danielle Elise Moseley Anna RLrth Jordan Ac¢ountsnts A resolution prtsposiny the rè-appaintmont of Frank S L*chman a¥ Inde￿nd&Tht Examiner v¢ill be aubmitted at Ihtr Annual General Nleeting. Relatèd Parties The charity has relationships with other chaiilies on a project-by-proiect basvs. Going Concern The dire¢lors ￿nfIrM thal= A going con¢ern basis is appropriate for these a¢ixJunls. The Company has sufficient fftserves to continue for at least 12 months afterthe date of signing these accounts. This ieport has been prepared in accordan￿ with the provisi0r￿ in Secttor$ 419121 of the Companies Act 20[￿ appl￿ble to companies subject lo the small ojmpanies regime. Approval This report approved by ihe board of trustees on the 13th November 2024 and *gTred on Ils behalf by. Ellzabeth Shaw, Chair of Trustees Page 5 East London Shakespeare FestNal Limlted ACCOUNTANTS REPORT Independent Examinerfs Report on the Accounts I reFK>rt to the charity Iruslees on my exarninallon of the a￿oUntS of the company for the year ended 29th Fe￿Uary 2024 which are sel out on pages 7 to 11 Responsibikties and basis of report As the chartys trust&s of the mmpany (and also ts directors for the purposes of company lawl you arfy responsible for the preparabon of the accounts in aecordance ¥Mlh the requirements of the Companies Act 2006 1.the 2006 Act'i. Having satisfied myself that the accounts of the compony are not required lo be audited under Part 16 of the 2006 Act and are eligible for in(lepenclenl exarninalion, I report in respect of my examination of your ¢harWs accounts as carried out under section 145 of the charit.es Act 2011 Ilhe'2011 A¢l'l. In Car￿ng Dul my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner'8 fftport I have completed my examInat￿)n. I confimi that no matters have come lo my attention in connection the examinab'on giving me c2use to bdieve". 111 accountin9 records were not kept in respect of (he company as requI￿d by seCt￿n 386 of the 2006 Act.. or 121 the a￿ount$ do not accord with those accounting reLX)rds,' or 131 the accounts do not complywilh the accoLTrnling requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair wew which is not a matter Considered as part of an indepttndent examination-, or 141 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounb'ng and reporting by charith.es applicable to ¢harilies preparing their a¢￿untS In accordan￿ with the Financial Repo￿ng Standard appli¢able in the UK and Republic ol Ireland IFRS 1021. I have no concerns and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Frank S Lachm8n FCA Member Inslilule of Chartered Accountants in England and Wales Chartered Accountant Independent Examiner 31 Fairview Way Edgware Middlesex HA8 8JE Dated.. 13th November 2024 Page 6 East London Shakespeare Fesllval Limlted statement of Flnancial Activities Forthe Year Ended 29th February 2024 Unrestricted Funds Totsl Unrestrfjcted Funds Funds 2024 Total Funds 2023 Notes Income Char(table activities 69,844 67,208 67,208 Total Income 69,844 69.844 67,208 67,208 Exp•ndlture Charltable Actlvlty Costs Total expenditurÈ 58,645 58.645 58,141 58.141 58.645 S8,645 58,141 58,141 Surplus for the year 11,199 11.199 9.067 9,067 Fun¢ls brought forward 8,562 15051 {5051 Funds carried forward 19,761 11,199 8,562 8.562 The ststemenl of Financial Activities reffects the results of continuing aclivib.es for the year. The18 were no reccgnk8ed gains or losses other than the nel oirtgoing resources for the year. The net oulg)ing resoUr￿S forthe year have been calculated on the historical cost basis. The notes on pages 9 to 11 form part of these accounts. Page 7 East London Shakespearè Festival Limited Balance Sheèt at 29th February 2024 Notes 2024 2023 Current assets Debt¢)rs Cash al bank and in hand 20,511 20,511 15,271 Totsl current assets 18,070 Crtditors falling due within onp year 750 Net Cu￿ent assets 19,761 8.562 Net assets 8.562 The Funds of the Charity UnrestTlct8d Funds 19,761 8,562 Total Charity Funds 19,761 8,562 al For the year ended 29th February 2024 the company was entitlèd to exèmpth'on under section 477121 of the Cotllpanies Act 2006. Ibl No members have required the company to obtain an audit of f£8 accounts for the yaar in question in accordan￿ with section 476 of the Companies Act 2006. Ic} Thè direclors ad(noM4edge thgii responsibility for.. i. ensuring the company keeps accounting records which comply with section 386. and ii. preparing accounts whi¢h givè a true and fair view of the state of affairs of the company as at the ol the financial ye3r and of Its profit and loss for the financial year in accordanee with thè section 393, and which otherwase comply with thè requirements of tha Companiès Act relab.ng to aceounls. so faras appiicatsk io ine company. Idl Tha a¢counts"have beèn preparèd in accordance wth the specL41 provisions in Part 15 of the Companiès Act 2006 applicable lo companies subject to thè small companies regime, and consb'tute the annua5 accounts required by the Compan￿8 Act 200fj and ara for ¢i￿￿allOn lo members of the . company Approvwl by the directors on 13th November 2024 , and signed on their behalf by Ellzabeth Shaw. Chair of Trustees SL_ 20.11.. ILI The notes on pages 9 to 11 forni part of thes& accounts. Page 8 East London Shakespeare Festival Lwnited Notes to the Financial Statement For the Year Ended 29th February 2024 1 Aeeotinting Polices lal The finanoal slalements have been prepared in accordance wth Accounting and Reporting by Charthes- Statement of Recommendèd Practic6 applicable to charities preparing their accounts in accordance with the Finan￿al Reporting Standard applicable in the UK and RepL¢blic tsf Ireland IFRS 102116ffective 1 January 20221- Icharilies SORP IFRS 10211. the Finan¢ial Reporting Standard applicable in the UK and Republ1¢ of Ireland IFRS 1021 and the Companies Act 2008. East London Shakespeare Fe5tNal Limited meats the definitton of a public benefit entity L¢nder FRS 102. Assets and liabilities are initially re¢ogniséd al historical cost or transaction value unless olhemise stsled in the relevant accounb.ng policy notelsl. Ibl Income Income is recognised whèn the Charity has enlillement to the funds, any performan￿ condits.ons atta(*ed to thè items of income have been met, il is prtsbable that the income will be received and the amount oan be measured reliably. Income from grants, whether capital or r6venue grants, is recogn15ed when the charity has entitlement to the funds, any performance condrtions attached to th8 grants has been met, it is probable that the income VAII be received and the amount can be rneasured reliably and ts not deferred. lel Expenditure l expenditure is accounted for on an accruals basis. Expenditure is rècognised once there is a legal or constructive bligalion to make a payment to a third party. It is probable that 5etUement ￿￿1[ be required and the arnount of the obligation can be rlleasurad r81iably. Costs are allocated to a category either because such costs tr8 directly incurred in relation to such categi)ry, or because they are suppixi costs in respect ofwhich an apportionment has been made belween the categoiies. Support costs consist of infrastructurè costs for salaries, prer17ises, office administration. Such costs are apportioned on a reasonable and consistent basis lo the various categories wth a Iqew to detemiining, as accurately as possible. the total rèsources expended lor each category. The basis of apportionment used is either a function of staff time applied to a given act4vity, or an estimate of th& proportion of costs associated with the same, or 8 combinalron of both. Direct and Support costs are separately shown by natural classrfi¢alion in Notè 5 to thesè accounts for each category of cosl. {d) Taxatlon Thè company as a registered charity I number 12033491 is exèmpl from taxabon on most investmènt inc4)m6 in50far as it is applied for charitable purposes. The company is also exempt from taxation on capital gains. {el Debtors Tradè and otheT debtors are recognised at thè settlement 8mount duè 8fter any trdde discount offered. Pr6paywEnts valued at the amount prepaid nel of any trade discounts due. (Q Creditors and provlsl¢ns Creditors and provisions are recognised ￿er￿ the charty has a presÈnl obligation resulting fiom a past 8vent that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be rneasurèd or estimated reliably. Creditors and provisFons are normally recognised at thèir settlement arnount after allowng for any trade discounts due. PJJe 9 East London Shakespeare F•$tival LimFted Notes to the Financial Statements For the Year Endèd 29th February 2024 2 Charitable activity Unrestrleted Funds Unrestrlcted Funds Project Gf3nts and donations Sundry 2024 2023 Young Company fees Ticket sales, fees. commissions. Co-productions 1,572 1,572 68,272 69,844 68,272 89.844 67,208 e7,208 3 Charltable a¢tivlty costs Charitable A¢tivty Costs Unr•strlcted Support Costs Unrestrictsd Governance Costs Total 2024 Charfjtablè Activity Costs Tr8vel, hotels and PDS Young Company Dir6ctors feas Creative fees Merchandise 36 1.200 47,367 3.260 1,200 47.367 3,260 Support eosts Examination fe9 Rent and utilities Statutory fèes Accountancy Administr81ion 750 750 5.742 13 5.742 13 277 277 Totsl 2024 6,019 51,863 763 58,645 Charltable Support Actlvity Costs Costs Unrestricted UnrestrFcted Governance Costs Total 2023 Ch•rithbl• Aotivity Coat• Travel. hotsls and PDS Young Company Directors fees Creative fees Merchandiso 120 120 43,508 6,338 43,508 6,338 Support costs Examination fee Rent and ulililies Statutory fees Aecountancy Taxab"on Administration 500 500 3,465 13 2,122 2.008 67 3,465 13 2,122 2,008 67 Total 2023 5,667 49,966 2,508 58,141 The eornpany did not emplay any staff during the year. 12023 None) Page 10 East London Shakespeare Festival Llmited Notes to the Financial Statements For the Year Endgd 29th February 2024 4 Debtors 2024 2023 Accrued income Other debtors and prepayments 799 5 Credltors due withln one year 2024 2023 Deferred income Other creditors Accruals 2,008 500 7.508 750 7SO 6 Recon¢iliation of movement ol fund$ Funds at 28th February 2024 Funds at 1st March 2023 Unrestricted Funds Income Expenses Transfers Designated 8,562 69,844 {58,6451 19,761 8,562 69,844 58,645 19,761 The above funds ¢ompri$e- Dgsignated Fund.. These are funds rlesignaled for future proje¢ts in the follow'ng year. 7 Anatysis of assets over fund$ Net Currant Assets Total 2023 Total 2024 Unre$trictgd Funds: Designated 19,761 19,761 8,562 19,761 8,562 8 Trustees During the year, none of the trustees recewed any remuneration from the charity and no expenses were reimbursed lo any of them. Page11