## **Shared Experience Limited (A company limited by guarantee)**
Trustees’ Report and financial statements For the year ended 31st March 2025
Company registered number 01254833 Charity registered number 271414
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Report of the trustees**
The trustees present their report and the audited financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
## **Trustees of the Charity**
The Directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:
|**Directors and Trustees:**|Richard Humphreys (Chair)|
|---|---|
||Alistair Petrie|
|**Reference and administrative**|**details**|
|**Company number:**|1254833|
|**Charity number:**|271414|
|**Chief Executive**|Conrad Lynch|
|**Bankers:**|CAF Bank Ltd|
||25 Kings Hill Avenue|
||Kings Hill, West Malling|
||ME19 4JQ|
|**Registered Office:**|30 St Giles|
||Oxford|
||OX1 3LE|
|**Independent examiner:**|Wenn Townsend|
||30 St Giles|
||Oxford|
||OX1 3LE|
**1**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Report of the trustees (continued)**
## **Principal Activity**
The charity's principal activity during the year continued to be the production and presentation of theatre.
## **Objectives and activities**
The objects of the company are to promote, maintain, improve and advance education particularly by the production of plays and the encouragement of the arts.
The Trustees are satisfied that the company's activities throughout the year provided public benefit, because:
- Activities were made widely available (the company was active over a long period in several locations).
- Charges were reasonable and not restrictive with discounted tickets available.
- Activities gave the public access to a high standard of artistic work.
## **Achievements and Performance**
2024/5 saw the charity continue to support small scale work through its Shared Experience Local strand of works. These shows toured to theatre venues, village hall and communities across the UK, with a focus on rural locations and urban settings with limited arts provisions
The productions were:
Blizzard by Emily Woof
The company also developed to shows Revolver by Emily Woof and Maiden Voyage by Mindi Dicktsein & Carmel Dean.
Education workshops continued on an adhoc basis with three being delivered in 2024/5.
## **Financial review**
The charity had a surplus of £14,263. Net assets at 31st March 2025 were £31,690.
## **Reserves Policy**
In determining the Company’s reserves policy, the trustees have regard to the Charity Commission’s guidance publication “Charities’ Reserves” (CC19). The Directors regularly review the current finances and future financial trends of the company, and, as part of the process, review its level of reserves and reserves policy annually.
By law, every charity is obliged to differentiate income with reference to the existence of any restriction or limitation placed on them. Following two successful grant applications, two restricted funds exist. The first grant from Arts Council England’s ‘Catalyst’ fund will be used to develop the charity’s fundraising capability. The second, from the Andrew Lloyd Webber Foundation, will be used to provide training opportunities for an apprentice producer and apprentice director over the coming year. The balance of these funds at 31st March 2025 were: Catalyst £1,696 (2024: £1,696); ALW Foundation £5,507 (2024: £5,507); Community Support Service £1,948 (2024: £1,948). Restricted reserves total £9,151 (2024: £9,151).
The Trustees consider that the charity can operate for a period of at least 12 months from the signing date of these accounts, and that the going concern basis of preparation is appropriate.
**2**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Report of the trustees (continued)**
## **Plans for future periods**
Shared Experience continued to develop The Restless Girls by Jessie Burton with the plan to produce this in 2027.
The company also started to scope the return to middle-scale touring in late 2017 with revivals of Mill On The Floss and Anna Karenina.
## **Structure, Governance and Management**
## **Constitution**
Shared Experience Limited is a company limited by guarantee, governed by its Memorandum and Articles of Association adopted 17th March 1976 and amended 20th September 2004. It is a registered charity with the Charity Commission. The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member. At the balance sheet date there were 6 members.
## **Governance**
The appointment and retiring of trustees, the conduct of business, the proceedings of meetings, the management of risk and the general management of the company all took place during the year in accordance with the provisions of the governing documents. The trustees were appointed in accordance with articles 3336 of the Articles of Association which state that the trustees have the power at any time to appoint any person to be a trustee subject to the conditions stated in the articles. There is no other person or body entitled to appoint trustees.
Where new trustees are appointed the charity's policy is to engage in various indication and training activities as necessary. Trustees are provided with a variety of information about the charity and meet members of staff to become properly informed and to consider further training needs.
## **Management**
Major strategic decisions are taken by the trustees who met five times during the year. General management of the charity is delegated by the trustees to the Chief Executive.
**3**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Report of the trustees (continued)**
## **Risk Management**
The trustees are responsible for the management of risks faced by the organisation. A formal review of the charity’s risk management processes is undertaken on an annual basis and a risk register maintained on an ongoing basis.
In essence this process encompasses risk identification, analysis, and assessment of likely impact, quantification of these impacts, monitoring, ownership, response and control. It is inevitable that unforeseen risk events will occur but by a systematic and regular review of project risks it is anticipated these will be kept to a minimum.
This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.
## **By order of the trustees**
**Richard Humphreys Date: ……………………………………………. March 2026**
**4**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## I **ndependent Examiner's Report to the Trustees of Shared Experience Limited**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2025 which are set out on pages 6 to 13.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of the company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 Act (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
In 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 company as required by section 386 of the 2006 Act; or 2.the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
## **Lee Baker FCA**
**Wenn Townsend Chartered Accountants 30 St Giles Oxford OX1 3LE**
**……………………………….…. March 2026**
**5**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Statement of Financial Activities (including income and expenditure account)**
|**Note **
**Income from**
Donations and legacies
2
Charitable activities
3
Investment Income
4
**Total Income**
**Expenditure on:**
Charitable activities
5
**Total Expenditure**
**Net income / (expenditure)**
Total funds brought forward at 1st April 2024
Total funds carried forward at 31st March 2025|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2025**
**2024**
**£**
**£**
**£**
**£**
8,001
-
8,001
109,310
48,000
-
48,000
34,644
61
-
61
45|
|---|---|
||55,312
-
55,312
143,999|
||41,799
-
41,799
145,769|
||41,799
-
41,799
145,769|
||14,263
-
14,263
(1,770)|
||8,276
9,151
17,427
19,197|
||22,539
9,151
31,690
17,427|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
**6**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Balance sheet**
|Note
**Current Assets**
Debtors
8
Cash at bank and in hand
**Creditors: Amounts falling due**
**within one year**
9
**Net Current Assets**
**Net Assets**
**The funds of the charity**
Restricted Income Funds
Unrestricted Income Funds
**Total Charity Funds**
10|**2025**
**2024**
**£**
**£**
12,103
9,200
21,538
12,910|
|---|---|
||33,641
22,110|
||(1,950)
(5,201)|
||31,691
16,909|
||31,691
16,909|
||9,151
9,151
22,539
8,276
31,690
17,427|
For the year ending 31st March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees’ responsibilities:
- the members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476;
- the trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with Section 386 and for preparing accounts which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of section 393 and which otherwise comply with the requirements of this Act relating to accounts, so far as applicable to the charity.
The accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
These financial statements were approved by the trustees on ………………………….. March 2026 and were signed on their behalf by:
Trustee Richard Humphreys
Company Registration Number: 01254833 Charity Registration number: 271414
**7**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Notes to the financial statements**
## **1 Accounting Policies**
## a) **Basis of Accounting**
Shared Experience Limited is a company limited by guarantee, governed by its Memorandum and Articles of Association adopted 17th March 1976 and amended 20th September 2004. It is a registered charity with the Charity Commission in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## b) **Going concern**
The accounts have been prepared on a going concern basis.
## c) **Funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost 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 to the financial statements.
## d) **Income recognition**
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
**8**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Notes to the financial statements (continued)**
## **Accounting policies (continued)**
## d) **Income recognition (continued)**
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Investment income is all earned from cash holdings in bank deposit accounts.
## e) **Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Costs of raising donations and legacies includes salaries and the costs of fundraising events and promotional material;
Expenditure on charitable activities includes production costs and fees paid to visiting companies, along with salaries and costs of providing educational experiences to schools and the public; and Costs of trading to generate funds represents those items not falling into the categories above.
## f) **Support cost allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Overheads have been allocated on a per capita basis.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
The analysis of these costs is included in note 5.
**9**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Notes to the financial statements (continued)**
## **Accounting policies (continued)**
## g) **Tangible Fixed Assets**
- Fixed assets are not capitalised as none have a material cost.
- h) **Debtors and creditors receivable / payable within one year**
- Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **2 Income from donations and legacies**
|**Grants**
Ladies that Dig Grant
SWIM Grant
SWIM income in Kind
R&D Theatre Tax Relief
**Donations & Sponsorship**
Friends & Patrons|**2025**
**2024**
£
£
-
48,470
-
46,280
-
14,500
7,941
-
60
60
8,001
109,310|
|---|---|
In 2025, income from donations and legacies attributable to restricted funds totalled £.
## **3 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**Funds**|**Funds**|
||**2025**|**2024**|
||**£**|**£**|
|Income from Touring productions:|||
|Ladies that Dig|-|**25,264**|
|SHWATD|-|**9,380**|
|Maiden Voyage|**48,000**|**-**|
||______|______|
||**48,000**|**34,644**|
||════|════|
## **4 Income from investments**
All of the investment income arises from interest bearing deposit accounts.
In 2025, no income from investments was attributable to restricted funds.
**10**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Notes to the financial statements (continued)**
## **5 Total expenditure**
|**xpenditure**||
|---|---|
|**Direct Costs**
Production Costs
Workshops
**Support Costs**
Governance
Administration|**Voluntary**
**Income**
**£**
**Productions**
**£**
**TOTAL**
**2025**
**£**
**TOTAL**
**2024**
**£**
-
39,799
39,799
143,895
-
-
-
-
-
1,000
1,000
1,490
-
1,020
1,020
384|
||**-**
**41,799**
**41,799**
**145,769**|
In 2025, expenditure of £nil was attributable to restricted funds.
## **6 Operating Deficit**
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|This is stated after charging:|||
|Independent Examiners Fee|1,000|870|
- **7 Trustees’ and key management personnel remuneration and expenses**
The trustees neither received nor waived any remuneration during the year (2024: £nil).
The total amount of employee benefits received by key management personnel is £nil (2024: £nil). The charity considers its key management personnel comprise:
Chief Executive Trustees
The trustees did not have any expenses reimbursed during the year (2024: £nil)
**11**
**Shared Experience Limited (a company limited by guarantee) Trustees report and financial statements 31st March 2025**
## **Notes to the financial statements (continued)**
## **8 Debtors**
|Other debtors
Prepayments and accrued income
**9**
**Creditors: Amounts falling due within one year**
Trade creditors
Accruals and deferred income
**10 Capital and Reserves**
**Reconciliation of movement in reserves**
Balance at 1st April 2024
Surplus for the year
Balance as at 31st March 2025
The balance of the Unrestricted Fund is made up as follows:
General Fund
The balance of the Restricted Fund is made up as follows:
Arts Council England - Catalyst
ALW Foundation
Community Support Service|**Unrestricted**
**Funds**
£
8,276
14,263|**2025**
**2024**
**£**
**£**
2,903
518
9,200
9,200
12,103
9,718
**2025**
**2024**
**£**
**£**
-
4,251
1,950
950
1,950
5,201
**Restricted**
**Funds**
**Total**
**Funds**
£
**£**
9,151
17,427
-
14,263|
|---|---|---|
||22,539|9,151
31,690|
|||**2025**
**2024**
**£**
**£**
22,539
8,276|
|||22,306
8,276|
|||**2025**
**2024**
**£**
**£**
1,696
1,696
5,507
5,507
1,948
1,948|
|||9,151
9,151|
Restricted funds are represented by cash at bank.
## **11 Taxation**
The charitable company is exempt from corporation tax on its charitable activities.
## **12 Related parties**
- There are no disclosures to make regarding related parties.
**12**