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Report of the trustees FOR THE YEAR ENDED 5 APRIL 2025 nr eer eeeeneeeneeeee 


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Report of the Trustees and Unaudited Financial Statements for the Financial Year Ended 5™ April 2025 

Period of Accounts ° 

Start Date: 6" April 2024 End Date: 5" April 2025 

Company Number: N1676327 

Registered Charity Number: NIC108049 


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Table of Contents ——— ese 

## Contents 

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|Report ofthe Trustees|||3 to 6|||
|Statement ofTrustee’s Responsibilities|||7|||
|Independent Examiners Report|‘||8|||
|Statement ofFinancial Activities|||9||.|
|Balance Sheet|||10 to 11|||
|NotestotheFinancialStatements||.|12to14|-||



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Report of the trustees FOR THE YEAR ENDED 5 APRIL 2025 

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## COMMEDIA OF ERRORS 

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## Commedia of Errors 

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 5 April 2025. 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 company exists for the benefit of the public to: produce performances in the UK and Ireland; promote and develop the performing arts for the benefit of the public; encourage appreciation and participation in performing arts activities, encourage and stimulate artistic creativity and present, promote, organise, manage and produce work of cultural and educational value. 

Commedia of Errors creates art that responds to, challenges and questions the changing times in which we live. It aims to grow, develop and inform audiences, beneficiaries and the arts sector and to broaden and deepen engagement by overcoming barriers to arts participation. 

## List of Trustees 

Chairperson: Sally Campton Secretary: David Gould Treasurer: Neill Cauwood Member: . Jenny Cooke (resigned 19/02/2025) Fiona McAnespie . Mark Francos Michael Weir (resigned 24/07/2024) Rebecca Mairs (joined 29/04/2024) 

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COMMEDIA OF ERRORS . Report of the trustees : FOR THE YEAR ENDED 5 APRIL 2025 — OBJECTIVES AND ACTIVITIES Significant Activities . : In 2024/25 Commedia of Errors continued to showcase its diverse range of[creative][activities][through][the][production][of] a new play, the revival of two productions and beginning a major expansion of Plays Aloud. During this time the company also welcomed two new staff members and a move in premises. 

This year marked many firsts. In September we premiered Rose+Bud at the Dublin Fringe Festival, followed by a successful run in the Lyric Belfast and two shows at the Derry Playhouse. Rose +Bud has also secured a place on the Pleasance National Partnership programme, and will enjoy a run at the Pleasance Edinburgh in August 2025. The production marked the first professional work as both playwright and performer for Rose Coogan. A revival of Shakespeare 's Women also hit the road in November, marking the first time we have programmed two plays in the same season. Following a sold out run at the Grand Opera House Studio, the tour was also the first time working with arts centres in Ireland in Roscommon, Cavan and Mullingar. 

Following receipt of funding from the National Lottery Community Fund we brought on board a new staff member in a brand-new position, as Project Coordinator for Plays Aloud. Hitting the ground running, they maintained our usual output of performances but also began our new workshop programme with eight workshops being delivered across ten schemes. Feedback for this new work has been excellent. 

Towards the end of the year our Artistic Director and Co-Creative further developed their relationship with the Lyric Theatre, remounting the highly successful 2022 production of The Gap Year, selling over 9,000 tickets across three weeks. Finally in March we staged our inaugural Creative Arts in Care settings event as part of Belfast Learning Festival. Offering learning and networking opportunities, artists, care staff and the public enjoyed a day-long.event in Clifton House. 

- 2024/25 was a positive year for both funding and output despite the ever more challenging funding climate and the ongoing issues the arts sector faces. : Public Benefit Commedia of Errors is established predominantly (but not exclusively) to produce performances in the UK and Ireland and in particular to: e Promote and develop the performing arts for the benefit of the public. e Encourage appreciation of and participation in performing arts activities. . e Encourage and stimulate artistic creativity by the provision of artistic performances, training, support and facilities for artistic expression. Present, promote, organise, manage and produce work of cultural and educational value, including (but not limited to) dramas, comedies, operas, operettas, burlesques, films, broadcasts, television shows, concerts, musical pieces, puppet shows, ballets, procure to be written and printed, published, issued, distributed and circulated, reports or periodicals, books, pamphlets, leaflets or other documents or information. 

   - e Recruit, train and employ volunteers with relevant skills, for the furtherance of the above aims. 

   - e Promote and carry out, or assist in promoting and carrying out, research, surveys and investigations provided the useful results are published. 

   - e Co-operate to such an extent as may be necessary with the statutory authorities and voluntary organisations engaged in the furtherance of the above objects or ofany of them. . 

   - e Raise and accept money by way of grants, donations, bequests, legacies or other lawful method and give, donate or disburse grants and loans to such related organisations or projects as are by law deemed charitable, provided that in the exercise thereof Commedia of Errors shall not engage in any form Of permanent, non-primary purpose trading. 

   - e Purchase, take or lease or in exchange, hire or otherwise acquire any property and any rights and privileges necessary for the attainment of the said objects. Subject to such consents that may be required by law to sell, let, mortgage, dispose or turn to account all or any of the property or assets of Commedia of Errors which shall be deemed necessary for the furtherance of Commedia of Errors. All such other lawful things as are necessary for the attainment of the said objects. : 

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Report of the trustees . FOR THE YEAR ENDED 5 APRIL 2025 _ FINANCE REVIEW The Trustees are extremely grateful for the continued financial support provided by the following on general and project funding: Df{C-Future Screens NI, ACNI, Halifax Foundation, National Lottery Community Fund, Garfield Weston, Belfast City Council and Radius Housing. 

## Financial Results 

At the end of the financial year the company’s assets totalled £90,294 (£40,204 in 2024) with liabilities of £2,986 (£583 in 2024), giving net assets of £87,308, an increase of £47,691 from 2024. As at 5 April 2025 total funds were £87,308 comprising unrestricted funds of £34,505, £11,802 of designated unrestricted funds and ‘general unrestricted funds of £22,703, plus restricted funds of £52,803. 

## Reserves Policy 

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The company’s Reserves Policy sets out details of the purpose, reasons and management of its Designated Unrestricted Reserves in accordance with the five broad categories specified in the Charity Commission’s CC19 document, principally the risk of unforeseen emergency or unexpected need for funds. The balance on the Designated Unrestricted Reserves at 5 April 2025 was £11,802. Despite the challenges, the company’s reserves remain comfortably positive (see above), facilitating an eventual total reserves target equivalent to six months’ core outgoings. i 

## Principal Risks and Uncertainties 

The company’s paper on Risk Assessment Policy and a sub-group have established a Risk Framework to identify and address major risks. . 

The Trustees are of the view that financial sustainability is the major risk for the company, in particular: e = The termination ofa major source of funding e A negative change in funding policy on the part of government or any major funding body Risks of a non-financial nature include: 

e Changes in law pertaining to charities or the arts sector e A substantial decline in demand within the theatrical sector . 

## 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. 

## Trustee Induction and Training 

New trustees attend an induction session at which.they are issued with a “Board Induction Information” brochure setting out detailed data explaining the duties and responsibilities of the Board Member under charity and company law. Trustees are regularly given the opportunity and are encouraged to attend a variety of external training events relevant to their role. 

## REFERENCE AND ADMINISTRATIVE DETAILS 

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Report of the trustees FOR THE YEAR ENDED 5 APRIL 2025 re eee rs Registered Company Number NI676327 

Registered Charity Name Commedia of Errors Errors 

Registered Charity Name : Commedia of Errors Errors Registered Charity Number . NIC108049 : Registered Office ‘ 21 Ormeau Avenue, Belfast, BT2 8HD, Northern Ireland Staff Benjamin Gould Gould — Artistic Director ; Clare McMahon — Co-Creative Co-Creative Director Carrie Neal Neal — Project Project Assistant (joined 29/04/2024) 29/04/2024) Charlotte Smith — Project Coordinator — Project Coordinator Project Coordinator Coordinator (joined (09/09/2025) , Independent Examiner Daniel McFaul ACA Chartered Accountants Ireland 41 Castleburn Road Carrickfergus BT38 7NY : 

Registered Charity Number . NIC108049 : 

Registered Office ‘ 21 Ormeau Avenue, Belfast, BT2 8HD, Northern Ireland 

## Staff 

Benjamin Gould Gould — Artistic Director ; Clare McMahon — Co-Creative Co-Creative Director Carrie Neal Neal — Project Project Assistant (joined 29/04/2024) 29/04/2024) Charlotte Smith — Project Coordinator — Project Coordinator Project Coordinator Coordinator (joined (09/09/2025) , 

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## Approved a Febrtas2h by order of the Board of Trustees on A. EA bo 2 and signed on its behalf by: 

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Statement of the Trustees’ Responsibilities § FOR THE YEAR ENDED 5 APRIL 2025 a 

The trustees (who are also the directors of Commedia of Errors for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- — Select suitable accounting policies and then apply them consistently; 

- Observe the methods and principles in the Charity SORP; 

- * Make judgements and estimates that are reasonable and prudent; * — Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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Independent Examiner's Report to the Trustees of 

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## Independent examiner’s report to the charity trustees of Commedia of Errors. 

- | report on the accounts of the Charity for the period ended Sth April 2025, which are set out in the company accounts. Respective responsibilities of charity trustees and examiner - As the charity’s trustees you are responsible for the preparation of the Accounts in accordance with the Charities Act (Northern Ireland) 2008. ‘ It is my responsibility to: » Examine the accounts under section 65 of the Charities Act ; * — Follow the procedures laid down in the general Directions given by the Commission under section 65(9\(b) of the Charities Act . 

- « — State whether particular matters have come to my attention. . 

- Basis of independent examiner’s report a I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concemning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached 

Independent examiner’s statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connectionrequire drawing with followingto your attention. the Directions of the Charity Commission for Northern Ireland, I have. found no matters that 

Name: [App/ie@ V4Fal hh CG.A ; Relevant professional qualification or body: addres €( CASTLEBMMA Rapd, CHUMCKFENGUS , BT3E WX Date: l /2J6 

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Statement of Financial Activities FOR THE YEAR ENDED 5 APRIL 2025 

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||Unrestricted|Unrestricted|Restricted|Restricted|Total<br>Total|Total<br>Total|Total<br>Total|
|---|---|---|---|---|---|---|---|
|||Funds|Funds||Funds<br>Funds|||
||||||2024/25<br>2023/24|||
|||£||£|£||£|
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|INCOME AND||||||||
|ENDOWMENTS FROM||||||||
|Donations and legacies||5||.||-|22|
|Charitable Activities||||||||
|Governmental Funding||||||||
|DfC-Future Screens NI||si||21,039|21,039||21,273|
|Arts Council ofNorthem Ireland,||ss||16,458|16,458||21,059|
|Belfast CityCounci:||.||, 500||5690|a<br>%|
|HMRC Statutory Payments||9,230||-|9,230||15,245|
|Trusts and Foundations||||||||
|Allen Lane Foundation||-||-|:|-|5,000|
|HalifaxFoundation||-||24,408|24,408||4,000|
|Arts Society<br>—|||.|-||.|3,000|
|Lord andLadyLurgan|||-|-||-|1,500|
|GarfieldWeston|||.|20,000|20,000||<|
|National Lottery Community Fund|||-|56,789|56,789||.<br>-|
|Ticket Sales and EamedIncome||51,002||=|51,002||18,296|
|Total||60,232||139,194|199,426||89,395|
|EXPENDITURE ON||||||||
|Charitable Activities||||||||
|DfC-Future ScreensNI|||2|23,877|23,877||21,273|
|ArtsCouncil ofNorthernIreland<br>BelfastCityCouncil|||-<br>.|12,760<br>"500|12,760<br>500||21,059<br>”|
|HMRC StatutoryPayments|||-|-||s|7,708|
|Trusts and Foundations<br>AllenLaneFoundation|||.|5,000|:|5,000|5,000|
|Halifax Foundation|||-|7,360||7,360|4,000|
|Arts Society|||-|-||«|3,000|
|Lord andLady Lurgan|||-|-||-|1,500|
|Garfield Weston|||-|20,000||20,000|-<br>.|
|National LotteryCommunity Fund|||~|43,841||43,841|-|
|General Charitable Activities||38,401||-||38,401|24,963|
|Total||38,401||113,338|151,739||88,503|
|Surplus/(deficit) fortheyear||21,831||25,856||47,687|892|
|RECONCILIATIONOFFUNDS||||||||
|Total Funds brought forward|:|18,723||20,898||39,621|38.729|
|TOTALFUNDSCARRIEDFWD||40.554||46.754||87,308|39,621|
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Balance Sheet 5 APRIL 2025 

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||||||Unrestricted<br>Funds|Restricted<br>Funds|Total<br>Funds|Total<br>Funds|Total<br>Funds|
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|Fixed Assets|.|||||||||
|Tangible Assets|||5||239|4,736||4,975|4,314|
|Current Assets||||||||||
|Cash atbank|||||31,105|41,552||72,657|18,797|
|Debtors|||6||11,162|1,500||12,662|17,093|
|Total Assets|||||42,506|47,788||90,294|40,204|
|Current Liabilities||||||||||
|Creditors payable||||||||||
|withinoneyear|||7||(1,952)|(1,034)||(2,986)|(583)|
|NetAssets|||||40,554|46,754||87,308|39,621|
|FUNDS||:||||||||
|Unrestricted Funds:||||||||||
|Unrestricted||||||||28,751|7,503|
|Designated Funds|||||||:|11,803|11,803|
|||||||||40,554|19,306|
|Restricted Funds||||||||46,754|20,898|
|TOTALFUNDS|||||.|||87,308|39,621|




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Balance Sheet - continued 5 APRIL 2025 . 

## a enn SS 

Commedia of Errors is a charitable company limited by guaranteed. It is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024. 

The directors have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the CompaniesAct 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 charitable company as at the end of the financial year and of its surplus or deficit for the 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 the financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. al The financial statements were approved by the Board of Trustees and authorised for, issue on cy _Febjuay LOrUp and signed on its behalf by: 

AL Gul ; Chairperson 

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Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2025 

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1. ACCOUNTING POLICIES Basis of Preparation 

These financial statements have been prepared on the accruals basis under the historical cost convention. Revenues and expenditures have been recognised in the year in which the transactions occurred. 

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 (RS 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 | January 2019)’, Financial Reporting Standard 102 ‘The ‘Financial Reporting Standard applicable in the UK and Republic of Ireland’, including the provisions of Section la “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## The charity’s registered number-is NIC 108049. 

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Going Concern : Having considered the state of the performing arts industry in Northern Ireland, the company’s resources and current financial position, the Directors consider it appropriate to continue to prepare the financial statements under the going concern convention. 

## Income 

Grant income is recognised in the Statement of Financial Activities once there is substantial certainty of receipt and the income can be quantified with reasonable accuracy. 

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## Expenditure 

Expenditures are recognised at the point at which the company has become legally committed to the transaction. All resources are accounted for on an accruals basis. 

## Tangible Fixed Assets 

The company’s equipment, furniture and fittings are capitalised at cost and depreciated on a straight -line basis of 20% per annum calculated to reduce them to their estimated net realisable value over the course of their useful economic lives. 

## Taxation 

The company is exempt from Corporation Tax on the basis of its charitable status. It does however submit a tax return as a company limited by guarantee in order to facilitate a claim for Theatre Tax Relief. An application for Theatre Tax Relief was submitted in 2024/25, the income was received after the year end and has been recognised in the financial statements. 

In the financial year 2024/25 the company voluntarily registered for Value Added Tax. 

2. FUND ACCOUNTING Particular restricted purposes 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. 

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Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2025 

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3. NET EXPENDITURE Net expenditure is stated after charging: 2025 2024 £ £ Depreciation of tangible assets 1,950 2,023 

4. 

a. TRUSTEES’ REMUNERATION AND BENEFITS : There were no trustees’ remuneration, benefits or expenses paid for the year ended 5 April 2025. 

||b.<br>StaffNumbers and Costs<br>Nomemberofstaffreceivedemoluments(excludingpensioncontributions) inexcess of£60,000.Theaverage<br>numberofstaffduringtheyearwas4(2023/24: 3). Staff costs fortheyearwereas follows:<br>2024/25<br>- 2023/24<br>£<br>£|
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||Salaries<br>69,910<br>51,241<br>Employer’sNationalInsurance _<br>5,439.<br>3,794<br>Employer’sPensionContributions<br>1,885<br>1,537<br>‘<br>71,233<br>56,572|
|5.|TANGIBLE FIXEDASSETS|
||Equipment,FixturesandFittings|



|Cost||||||||
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|||||||Equipment||
||||||||2024/25|
||||||||£|
|At6April2024|||‘||||12,394|
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|Purchases for the|Year||||||2.614|
|Disposals forthe|Year||||||094|
|At 5 April 2025||.|||||12.914|
|Depreciation|.|||||||
|At 6April2024|||||||8,079|
|Disposals forthe|Year||||||(2,090)|
|Charge for the Year|||||.|#|1.950|
|At 5 April 2025|||||||1,939|
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|Net Present Value||||||||
|At6 April 2024|||||||4,315|
|At5April2025|||||-||4.975|



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Notes to the Financial Statements FOR THE YEAR ENDED 5 APRIL 2025 

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|6.|DEBTORS:|AMOUNTS FALLING DUE WITHIN ONE YEAR|
|05/04/2025|05/04/2024|
|f|£|
|Debtors|12,662|17,093|
|7.|CREDITORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR|
|05/04/2025|05/04/2024|
|£|£|
|Creditors|2.986|"$83|
|8.|MOVEMENT|IN|FUNDS|
|Unrestricted|Restricted|Total|
|.|Funds|Funds|Funds|
|£|£|£|
|At|6|April|2024|;|18,723|20,898|39,621|
|Movement|for|Year|21.831|___ 25,856|47.687|
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|At|5|Aprilpn|2025|___ 40,554|= -__46.754|____87,308|

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9. LEGALSTATUS 

The company is limited by guarantee not having a share capital. ‘ In the event of the company being wound up each member is liable to contribute a sum not exceeding £10 in settlement of the company’s liabilities. 

## 10. RELATED PARTY TRANSACTIONS 

The company had no related party transactions for the year ended 5 Apmil 2025. 

11. POST BALANCE SHEET TRANSACTIONS 

There have been no significant transactions impacting the company since the balance sheet date. 

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