**REGISTERED COMPANY NUMBER: 01305975 (England and Wales) REGISTERED CHARITY NUMBER: 273859**
## **STAMFORD SHAKESPEARE COMPANY**
**REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
**STAMFORD SHAKESPEARE COMPANY**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Statement of Financial Position**|7 to 8|
|**Statement of Cash Flows**|9|
|**Notes to the Statement of Cash Flows**|10|
|**Notes to the Financial Statements**|11 to 18|
**STAMFORD SHAKESPEARE COMPANY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principal activity and objects for which the company was established continue to be to promote, maintain, improve and advance public education, particularly by the production of educational plays and the encouragement of the arts, primarily through performing the works of William Shakespeare to the public during the summer months.
The company aims to achieve this objective through the continuing refurbishment of Tolethorpe Hall and the programme of theatre activities. It is considered that the market value of the property does not differ materially from its carrying value in the financial statements and the trustees are reluctant to involve the company in the expense of an open-market valuation. Trustees use two criteria to assess the charity's success in meeting its aims: annual attendance figures and audience feedback.
## **Public benefit**
The company has given due regard to the guidance published by the Charity Commission on public benefit and considers that these requirements are adequately met by its principal and subsidiary activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
This year has been successful and eventful, with many changes to navigate and challenges to overcome, including the first year of operating our new box office at Tolethorpe Hall.
This year we performed two plays by William Shakespeare, 'Measure for Measure' and 'As You Like It' and the third play was Alan Bennett's 'The Lady in the Van.' It was disappointing that the Shakespeare plays did not attract the audience numbers that we had anticipated, and ticket sales dropped by just over 6,000 to 26,372 compared to the previous year.
- "As You Like It" directed by Diane Watson was originally reimagined with vibrancy and humour. The cast and crew delivered a production filled with joy and love featuring some truly captivating performances.
- "Measure for Measure" directed by Ken Walsh showcased the incredible talent of our actors and the dedication of our production team. The performance was very well-received and left a lasting impact on the audience.
- "Lady in the Van" directed by Caroline Stephenson and David Fensom was a remarkable production that brought both laughter and tears to the audience. The direction and performances were exceptional. The audience remained blissfully unaware of just how challenging this production had been given all the literal moving parts!
- "Blue Stockings" performed by Tolethorpe Youth Drama students and directed by Mary Benzies was a thought-provoking and powerful production that highlighted important social issues. The cast delivered outstanding performances, belying their age and experience.
We would like to honour the members we have lost during this year. We mourn the passing of Steve Osborne on 3rd April 2023, John Nolan on 12th June 2023 and Carol King on 31st July 2023. Steve helped with many tasks backstage and in the grounds and enjoyed front of house duties. John played many leading roles on our stage over the years. Carol was the principal of Tolethorpe Youth Drama school for many years and became artistic director when our founder Jean Harley retired. She was also a highly accomplished play director. All will be greatly missed, and their contributions will always be remembered.
Special appreciation goes to our dedicated staff. Their hard work and commitment are instrumental in keeping Tolethorpe Hall and our theatre up and running.
Page 1
**STAMFORD SHAKESPEARE COMPANY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023**
## **ACHIEVEMENT AND PERFORMANCE Charitable activities (continued)**
We would also like to extend our gratitude to Miriam Spring Davies for her incredible costumes. Her attention to detail and creative vision have brought our characters to life on stage. Additionally, we would like to thank Nick Carlton for his exceptional sets that perfectly complemented the costumes.
We are also indebted to Mary Benzies and Rachel Lewis for their dedication to Tolethorpe Youth Drama that enthuses an increasingly inclusive and diverse range of young performers with the love of theatre whilst challenging them to think, question and grow.
We are immensely grateful to all those who have generously given their time and expertise to the running of our theatre company. This includes the play directors and actors, the backstage managers and light and sound technical crews, our wardrobe assistants and the front of house volunteers led by the indomitable Sandie Parsons. It is due to the collective effort and dedication of each of these individuals that we can put on successful productions that we are proud of, year after year.
We have faced several challenges over the past year, including attracting new acting members, adapting to changes in audience habits following Covid, staying relevant to the next generation of theatre goers, and the need for continued investment in our ageing theatre. During the year we were fortunate to purchase six LED stage lights and flight cases at a reasonable cost and these are the same age as the new lights we purchased in 2018 and will further reduce our electricity consumption.
Change can be difficult, but it is essential for our theatre company to embrace it to thrive and continue to provide high-quality productions to our audiences.
## **FINANCIAL REVIEW**
## **Financial position**
The charity recorded a net surplus on unrestricted funds for the year of £7,385 in comparison to a net surplus of £48,846 in 2022.
Total expenditure reduced by £21,049 from £627,198 to £606,149
Net current assets were £100,773 (2022 - net current assets £132,891) at the balance sheet date, a decrease of £32,118 from 2022.
## **Reserves policy**
The reserves are controlled in such a way that there are sufficient funds to meet ongoing expenditure, especially over the winter period when no productions are taking place. The current level of reserves is considered sufficient to meet all liabilities in full as they fall due and the trustees believe that this target will continue to be met.
The trustees are aware of the major risks to which the charity is exposed and have put in place systems to mitigate those risks. The trustees consider the biggest risk to be the cancellation of performances due to extreme weather conditions. Although this is a rare occurrence, a period of inclement weather forcing cancellation of several performances would affect the company's income.
Page 2
**STAMFORD SHAKESPEARE COMPANY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The company's objectives and powers and other constitutional matters are set out in its Memorandum and Articles of Association.
## **Recruitment and appointment of new trustees**
The trustees are appointed by the members at the Annual General Meeting and serve for a period of three years after which time, by rotation, they put themselves forward for re-election. The existing trustees also have the power to co-opt other members on to the board, such appointments to be approved by the members at the next Annual General Meeting.
New trustees are members of the company and actively involved for at least two years. Usually they have been members for much longer and are well acquainted with the theatre activities. They are made aware of their responsibilities as trustees of a charity and are encouraged to be involved in the various sub-committees.
## **Organisational structure**
The board of trustees meets at regular intervals. There is no designated Chief Executive Officer. Day to day administration is delegated to the company administrator. Financial management is outsourced to a local firm of accountants.
## **Decision making**
The trustees make all the key decisions and delegate to the administrator, who reports back. The trustees are actively involved in the charity and the chair spends a lot of time on company matters at Tolethorpe Hall. The administrator is visited by trustees on a regular basis and keeps everyone informed of ongoing matters.
## **Key management remuneration**
The trustees receive no remuneration from the company, other than the reimbursement of necessary expenses. The pay structure of key personnel is set by the trustees. It is based on the responsibility and expertise of each employee in their respective duties and agreed by the trustees in the Annual Budget.
It is company policy that persons appointed to the board have had at least two years' experience within the company and have been members for two years. The board encourages transparency in the running of the company and therefore members will have been involved in the various aspects of the running of the theatre, from directing and acting to the technical side and front-of-house duties. Newly appointed trustees are acquainted with the management of the charity and are appointed to the various sub-committees where their talents will be put to the best use. Attendance at the regular board meetings ensures that the trustees are involved in decision making.
Page 3
**STAMFORD SHAKESPEARE COMPANY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 01305975 (England and Wales)
**Registered Charity number** 273859
**Registered office** Tolethorpe Hall Little Casterton Stamford Lincolnshire PE9 4BH
**Trustees** Mrs N L M J Andrew Miss H S Beasley R Byron White T D Johnson Mrs S G Parsons Mrs C J Rayner (appointed 24.3.23) Mrs C L Stephenson Miss L C Thornton-Reid P J Turnham E J Cullum (resigned 25.6.23) T Westall (resigned 27.2.23)
**Company Secretary** Mrs S G Parsons **Independent Examiner** Alistair Main FCA Duncan & Toplis Limited 5 Resolution Close Endeavour Park Boston Lincolnshire PE21 7TT
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 26 May 2024 and signed on its behalf by:
Mrs S G Parsons - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAMFORD SHAKESPEARE COMPANY (REGISTERED NUMBER: 01305975)**
## **Independent examiner's report to the trustees of Stamford Shakespeare Company ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of 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 charity's accounts as carried out under Section 145 of the Charities Act 2011 ('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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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:
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.
Alistair Main FCA Duncan & Toplis Limited 5 Resolution Close Endeavour Park Boston Lincolnshire PE21 7TT
Date: 29 May 2024
Page 5
**STAMFORD SHAKESPEARE COMPANY**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
5
Incoming resources from charitable activities
Activities for generating funds
3
Investment and other income
4
**Total**
**EXPENDITURE ON**
Cost of generating funds
6
**Charitable activities**
7
Costs of charitable activities
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|2023
Unrestricted
funds
£
10,520
515,582
82,185
5,247
613,534
70,320
270,240
265,589
606,149
7,385
1,674,058
1,681,443|2022
Total
funds
£
5,156
580,578
85,457
4,853|
|---|---|---|
|||676,044|
|||73,674
314,708
238,816|
|||627,198|
|||48,846
1,625,212|
|||1,674,058|
The notes form part of these financial statements
Page 6
**STAMFORD SHAKESPEARE COMPANY (REGISTERED NUMBER: 01305975)**
## **STATEMENT OF FINANCIAL POSITION 31 AUGUST 2023**
|Notes
**FIXED ASSETS**
Tangible assets
13
Heritage assets
14
**CURRENT ASSETS**
Stocks
15
Debtors
16
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
17
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
18
**NET ASSETS**
**FUNDS**
21
Unrestricted funds
**TOTAL FUNDS**|2023
Unrestricted
funds
£
204,391
1,548,933
1,753,324
1,837
56,881
118,145
176,863
(76,090)
100,773
1,854,097
(172,654)
1,681,443
1,681,443
1,681,443|2022
Total
funds
£
194,178
1,548,933
1,743,111
2,345
59,034
164,255
225,634
(92,743)
132,891
1,876,002
(201,944)
1,674,058
1,674,058
1,674,058|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
**STAMFORD SHAKESPEARE COMPANY (REGISTERED NUMBER: 01305975)**
## **STATEMENT OF FINANCIAL POSITION - continued 31 AUGUST 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 May 2024 and were signed on its behalf by:
N L M J Andrew - Trustee
The notes form part of these financial statements
Page 8
**STAMFORD SHAKESPEARE COMPANY**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
**Cash flows from financing activities**
Loan repayments in year
Net cash used in financing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|2023
£
31,272
(14,454)
16,818
(34,085)
-
447
(33,638)
(29,290)
(29,290)
(46,110)
164,255
118,145|2022
£
119,720
(9,623)
110,097
(78,101)
917
53
(77,131)
(29,290)
(29,290)
3,676
160,579
164,255|
|---|---|---|
The notes form part of these financial statements
Page 9
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**|||
|---|---|---|---|---|
||||2023|2022|
||||£|£|
||**Net income for the reporting period (as per the Statement of Financial Activities)**||7,385|48,846|
||**Adjustments for:**||||
||Depreciation charges||23,872|21,909|
||Profit on disposal of fixed assets||-|(917)|
||Interest received||(447)|(53)|
||Interest paid||14,454|9,623|
||Decrease/(increase) in stocks||508|(893)|
||Decrease in debtors||2,153|27,691|
||(Decrease)/increase in creditors||(16,653)|13,514|
||**Net cash provided by operations**||31,272|119,720|
|**2.**|**ANALYSIS OF CHANGES IN NET DEBT**||||
|||At 1.9.22|Cash flow|At 31.8.23|
|||£|£|£|
||**Net cash**||||
||Cash at bank and in hand|164,255|(46,110)|118,145|
|||164,255|(46,110)|118,145|
||**Debt**||||
||Debts falling due within 1 year|(29,290)|-|(29,290)|
||Debts falling due after 1 year|(201,944)|29,290|(172,654)|
|||(231,234)|29,290|(201,944)|
||**Total**|(66,979)|(16,820)|(83,799)|
The notes form part of these financial statements
Page 10
**STAMFORD SHAKESPEARE COMPANY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Plant and fixtures - 20% on cost and at variable rates on reducing balance
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
## **Heritage assets**
The freehold property, Tolethorpe Hall, is a Grade Two* listed building, originally dating from 1088 and as such it has immense historical significance, both in its own right and as a repository of ancient artefacts.
It is also maintained and insured to a very high standard, with an annual insurance value many times higher than the original cost and the professional valuation in 1990.
In this context the property is considered to be a heritage and appreciating asset and therefore no depreciation is charged.
## **Stocks**
Stocks are valued at the lower of cost and estimated selling price less costs to sell and after making due allowance for any obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 11
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
|**2.**
**DONATIONS AND LEGACIES**
Miscellaneous donations
Membership subscriptions
**3.**
**ACTIVITIES FOR GENERATING FUNDS**
Drama school
Hire of equipment, costumes and sundry income
**4.**
**INVESTMENT AND OTHER INCOME**
Rents received
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Ticket sales
Incoming resources from charitable activities
Programme sales
Incoming resources from charitable activities
Tuck shop
Incoming resources from charitable activities
Blanket sales
Incoming resources from charitable activities
Programme sponsorship
Incoming resources from charitable activities
Rent of facilities
Incoming resources from charitable activities
**6.**
**COST OF GENERATING FUNDS**
Drama school expenses
Hall and licences|2023
£
7,820
2,700
10,520
2023
£
78,613
3,572
82,185
2023
£
4,800
447
5,247
2023
£
464,691
14,252
10,404
370
5,765
20,100
515,582
2023
£
69,336
984
70,320|2022
£
2,956
2,200
5,156
2022
£
81,050
4,407
85,457
2022
£
4,800
53
4,853
2022
£
522,638
20,268
15,650
567
6,455
15,000
580,578
2022
£
72,816
858
73,674|
|---|---|---|
||||
continued...
Page 12
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
## **7. CHARITABLE ACTIVITIES COSTS**
|**7.**
**CHARITABLE ACTIVITIES COSTS**|||
|---|---|---|
|Costs of charitable activities
**8.**
**SUPPORT COSTS**
Other resources expended
Costs of charitable activities|Support
Direct
costs (see
Costs
note 8)
£
£
246,211
24,029
Governance
Other
costs
£
£
265,589
-
1,241
22,788
266,830
22,788|Totals
£
270,240|
|||Totals
£
265,589
24,029|
|||289,618|
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Depreciation - owned assets
Surplus on disposal of fixed assets|2023
£
23,872
-|2022
£
21,909
(917)|
|---|---|---|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Support staff|2023
£
134,383
3,254
2,291
139,928
2023
7|2022
£
94,963
1,866
1,379|
|---|---|---|
|||98,208|
|||2022
5|
No employees received emoluments in excess of £60,000.
continued...
Page 13
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**12.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**||
|---|---|---|
|||Unrestricted|
|||funds|
|||£|
||**INCOME AND ENDOWMENTS FROM**||
||Donations and legacies|5,156|
||**Charitable activities**||
||Incoming resources from charitable activities|580,578|
||Activities for generating funds|85,457|
||Investment and other income|4,853|
||**Total**|676,044|
||**EXPENDITURE ON**||
||Cost of generating funds|73,674|
||**Charitable activities**||
||Costs of charitable activities|314,708|
||Other|238,816|
||**Total**|627,198|
||**NET INCOME**|48,846|
||**RECONCILIATION OF FUNDS**||
||Total funds brought forward|1,625,212|
||**TOTAL FUNDS CARRIED FORWARD**|1,674,058|
|**13.**|**TANGIBLE FIXED ASSETS**||
|||Plant and|
|||fixtures|
|||£|
||**COST**||
||At 1 September 2022|774,207|
||Additions|34,085|
||At 31 August 2023|808,292|
||**DEPRECIATION**||
||At 1 September 2022|580,029|
||Charge for year|23,872|
||At 31 August 2023|603,901|
||**NET BOOK VALUE**||
||At 31 August 2023|204,391|
||At 31 August 2022|194,178|
All the fixed assets are held for charitable purposes. Additions during the year were financed by the company's own accumulated resources and by bank funding.
continued...
Page 14
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
## **14. HERITAGE ASSETS**
|**HERITAGE ASSETS**||
|---|---|
|**DEEMED COST**
At 1 September 2022 and 31 August 2023
**NET BOOK VALUE**
At 31 August 2023
At 31 August 2022|Total
£
1,548,933|
||1,548,933|
||1,548,933|
The freehold property, Tolethorpe Hall, was valued by the directors at open market value on 31 August 1990 at £247,859. The historical cost of the property, including additions since the revaluation, is £1,548,933 and the value of the land was estimated as the date of valuation to be £30,000. A policy of revaluation has not been adopted and the carrying amount of freehold land and buildings reflects previous valuations retained.
As stated above, no depreciation is charged on the freehold property as it is regarded as a Heritage Asset.
In the opinion of the directors, if the property were to be sold at its valuation, no liability to taxation on the surplus would arise due to the company's charitable status.
|**15.**
**STOCKS**
Stocks
**16.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income|2023
£
1,837
2023
£
2,443
36,086
18,352
56,881|2022
£
2,345
2022
£
5,693
35,771
17,570|2022
£
2,345|
|---|---|---|---|
|||59,034||
## **17.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Bank loans and overdrafts (see note 19)
Other loans (see note 19)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income|2023
£
19,290
10,000
17,697
1,943
3,376
9,418
14,366
76,090|2022
£
19,290
10,000
25,097
1,643
3,653
14,281
18,779|
|||92,743|
continued...
Page 15
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
|**18.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 19)
Other loans (see note 19)|2023
£
154,320
18,334
172,654|2022
£
173,611
28,333|
|---|---|---|
|||201,944|
|**19.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Other loans
Amounts falling between one and two years:
Bank loans
Other loans
Amounts falling due between two and five years:
Bank loans
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans|2023
£
19,290
10,000
29,290
19,290
18,334
37,624
57,870
77,160|2022
£
19,290
10,000|
|---|---|---|
|||29,290|
|||19,290
28,333|
|||47,623|
|||57,870|
|||96,451|
The other loan is a 'bounce back loan' and this is repayable in equal instalments of £833 per month and interest is charged at 2.5%.
## **20. SECURED DEBTS**
The following secured debts are included within creditors:
||2023|2022|
|---|---|---|
||£|£|
|Bank loans|173,610|192,901|
The bank loans and any overdrafts are secured by a fixed charge on the freehold property at Tolethorpe Hall. The bank loan is repayable in equal instalments (five per year for the remaining nine years) of £3,858 and interest is charged at base rate plus 3.5%.
continued...
Page 16
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
## **21. MOVEMENT IN FUNDS**
|At 1.9.22
£
**Unrestricted funds**
General fund
1,674,058
**TOTAL FUNDS**
1,674,058
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
613,534
**TOTAL FUNDS**
613,534
**Comparatives for movement in funds**
At 1.9.21
£
**Unrestricted funds**
General fund
1,535,212
Revalutaion reserve
90,000
1,625,212
**TOTAL FUNDS**
1,625,212
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
676,044
**TOTAL FUNDS**
676,044|Net
movement
in funds
£
7,385
7,385
Resources
expended
£
(606,149)
(606,149)
Net
movement
in funds
£
48,846
-
48,846
48,846
Resources
expended
£
(627,198)
(627,198)|At
31.8.23
£
1,681,443
1,681,443
Movement
in funds
£
7,385
7,385
At
31.8.22
£
1,584,058
90,000
1,674,058
1,674,058
Movement
in funds
£
48,846
48,846|
|---|---|---|
||||
||||
||||
continued...
Page 17
**STAMFORD SHAKESPEARE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023**
## **21. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Revalutaion reserve
**TOTAL FUNDS**|At 1.9.21
£
1,535,212
90,000
1,625,212
1,625,212|Net
movement
in funds
£
56,231
-
56,231
56,231|At
31.8.23
£
1,591,443
90,000
1,681,443
1,681,443|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,289,578|(1,233,347)|56,231|
|**TOTAL FUNDS**|1,289,578|(1,233,347)|56,231|
|**CAPITAL COMMITMENTS**||||
|||2023|2022|
|||£|£|
|Contracted but not provided for in the financial statements||-|1,675|
## **22. CAPITAL COMMITMENTS**
## **23. RELATED PARTY DISCLOSURES**
During the year purchases were made from the Rose Group amounting to £15,879 (2022 - £12,251), Ms NLH Andrew is the group managing director of the Rose companies. There were no outstanding balances as at the year end. During the previous year a one-off donation was received from the Rose Group, There were no conditions placed upon this donation
Page 18