The Shakespeare Globe Trust Annual Review 2009-10

1 2009 2010 November December January February March April

1 First of over 2,500 6 Staged reading of William 6 Shakespeare Theatre 13 First Heaven to Hell 5 Playing Shakespeare with 17 Annual Sonnet Walk schools workshops presented Smeaton’s The Return from Association of America 3-day backstage tour for Friends Deutsche Bank performance 23 Shakespeare’s Birthday by Globe Education Parnassus conference opens at the Globe and Patrons of Celebrations; 2010 theatre throughout the year 9 ‘Some Little Account of 9 First of eleven 21 Staged reading of George 10 Qualifications and season, ‘Kings and Rogues’, 12 ‘Shakespeare’s Sonnets the Man’: a lecture by Charles undergraduate courses at the Granville’s The Jew of Venice Curriculum Development opens with Macbeth & Sex’: a lecture by Professor Nicholl Globe begins 22 Half-term events begin agency launch the new ‘Active 26 Annual Comedy Store Stanley Wells 10 Southwark Schools’ in Shakespeare’s Globe Shakespeare’ learning Players show at the Globe 18 ‘Sounding the Sonnets Concert for Winter Exhibition materials at the Globe 27 First ‘Setting the Scene’ that Shakespeare Spoke’: 22 Footsbarn’s A Christmas 18 Our Theatre production lecture a lecture by Professor David Cracker opens of A Midsummer Night’s Dream 29 The touring production Crystal 21 Festival of A Midsummer Night’s Dream 28 Shakespeare Symposium: for drama schools opens in Greenwich ‘From Rowe to Shapiro’ 26 Rutgers University concludes its annual semester programme with a performance of A Midsummer Night’s Dream May June July August September OCTOber

1 First Childsplay workshop 6 Henry IV Part 1 opens 3 Henry IV Part 2 opens 14 Revival of the 2008 5 World premiere of Nell 7 ‘Shakespeare is German’ 9 Staged reading of Thomas 12 Sam’s Day: the Globe’s 18 Staged reading of John production of The Merry Wives Leyshon’s Bedlam season launches with the Betterton’s King Henry IV annual celebration of the life Banks’ Virtue Betrayed of Windsor opens 10 Issue 46 of Around the launch of Goethe on 15 Henry VIII opens and work of Sam Wanamaker 24 World premiere of 15 Staged reading of John Globe published Shakespeare 25 Presentation of Globe- 17 The touring production of Howard Brenton’s Anne Boleyn Fletcher and Philip 16 Teaching begins for the 11 Neil Constable starts as conceived The Comedy of Errors opens in Massinger’s The Sea Voyage MA in Shakespeare Studies, the new Chief Executive of installation at Evelina Portsmouth 28 Eighteenth ‘Talking ‘Text and Playhouse’, with Shakespeare’s Globe Children’s Hospital, Lambeth 24 Sam Wanamaker Theatre’ event King’s College 14 ‘Shakespeare – A German Fellowship Lecture delivered 19 Staged reading of John Writer’: a celebration with by Professor Peter Holland Fletcher’s The Chances Sebastian Koch 28 The Merry Wives of Windsor opens at the Michael Schimmel Center for the Performing Arts, New York

Contents

Chairman’s Statement 6 Chief Executive’s Statement 8 Theatre 10 Education 12 Exhibition & Commercial Activities 14 Auditor’s Statement 16 Financial Commentary 18 Summarised Financial Statements 22 Income & Expenditure Charts 24 Supporters 25 Governance 26 Chairman’s Statement

It seemed unlikely that the Globe’s 2010 a more handsome collection of spaces season could better last-year’s recession- in which to teach, learn and rehearse? busting performance, but it did! I’m The realisation of the Sackler Studios is delighted to report that in just about every a cause for double celebration, for it has area under review we’ve managed to go ushered in the next phase of our Second one better than 2008/9. At a time in which Stage Campaign – namely the completion the country at large has been fastening its of the Indoor Jacobean Theatre. The shell belt even tighter, the Globe has grown in of this building, so long divided up into the breadth, depth and popularity of all its provisional rehearsal and teaching spaces, activities. In addition, we have made a huge can now be vacated in readiness for its advance in the facilities the Globe can now conversion into the most exciting theatre offer our theatre companies and students. reconstruction in the country. When the This advance is the building now new auditorium opens in 2013, we shall containing the superb new Sackler Studios, be able to offer something approaching which was opened by HRH Prince Philip the kind of year-round programme of in November, just after the reported 12- productions that would have been familiar month period came to an end. The elegant to Shakespeare’s own company in the early exterior, preserving much of the character 1600s. It’s an exciting prospect. of the old premises once occupied by Sam In the meantime, as the reports in this Wanamaker in this project’s early years, review testify, we can look back on a year and the brilliantly conceived interior, of terrific artistic and educational complete with oak walls and state-of-the- achievement. It is always invidious to pick art audio equipment, are a credit to the out highlights – and particularly in such a architects and, more fundamentally, to rich and varied year – but I must mention the faith of all those supporters who the marvellous Henry IV plays, our first understand the value of our work and production of these masterpieces at the could see how much more we might Globe. This gave our audiences not just achieve given the resources to do so. Does a wonderful ensemble performance but any theatre in the country now possess

6 also, in , a truly unforgettable, of Peter Kyle, who, after leading the Olivier-award-winning Falstaff. And I must Globe through twelve exciting, sometimes also mention the world premiere of Howard turbulent years, stepped down as Chief Brenton’s gripping Anne Boleyn – richly Executive at the close of the year. He well deserving of the whatsonstage award for deserved the OBE given him in the recent best new play and further proof, if it was New Year’s Honours. I join all the Trustees needed, of the wonderful contribution and indeed everyone involved in the contemporary playwrights are making running of the Globe in thanking Peter to the artistic life of the Globe. On the for his wonderful work and in welcoming education side, the Playing Shakespeare his successor, Neil Constable. production of Macbeth marked the fourth I extend thanks, too, to my fellow Trustees year of our collaboration with Deutsche and in particular to Professor Sue Robertson Bank and brought over 14,000 students to and Lord Howell, who stepped down from see a play at the Globe at no cost, courtesy the Trust just before and during the period of Deutsche Bank’s generous sponsorship. under review. It is difficult to think of a more inspiring (or straightforward) way of bringing Founded on one man’s vision, driven by Shakespeare to so many young people. a small team of enthusiastic and committed Very different, but equally exciting, was professionals, supported by an army of ‘Shakespeare is German’, the mischievously devoted volunteers and over 6000 loyal titled series of imaginative public events Friends, sponsored by the generosity of which began towards the end of the year. individual donors and corporations, serving It was a season of which our late founder, a broad audience with a wide range of devoted as he was to the international services and run without a penny of public importance of Shakespeare, would have subsidy, Shakespeare’s Globe has been been proud. for many years an exemplar of what an energetic coalition of professionals and All these things and – as the following volunteers can deliver. Long may it continue. reports suggest – far, far more have been accomplished under difficult economic conditions, for which congratulations are Roger Parry due to the Globe’s hugely dedicated and Chairman skilled staff. And here I must also pay tribute to the magnificent stewardship

7 CHIEF EXECUTIVE’S STATEMENT

It is a rare thing indeed to inherit a miracle has presented its most successful year ever, and to be charged with the task of looking not only in financial terms, but also in the after it, but that is precisely what happened extraordinary breadth and quality of its to me in 1998 when I was appointed the artistic and educational work. Globe’s first General Director. The Exhibition was completed in 2000 and Writing in September 1997, at the close of the Education and Rehearsal Centre was the Globe’s opening season of plays in the completed this year. Attention now turns completed theatre, Sir Michael Perry, then to the creation of the Indoor Jacobean Chairman of the Shakespeare Globe Trust, Theatre, which will provide a glorious new wrote, ‘I believe that achievement is one of addition to London’s theatrical landscape, the artistic and educational miracles of our and the completion of a Library and time’. He also cautioned, however, that, Research Centre in which to house the ‘The completion of this remarkable theatre remarkable collection of books gifted and the wonderful success of the Globe to the Globe by John Wolfson. The Trust’s Company’s 1997 season, though, must not fundraising task still has some way to go! be allowed to obscure the fact that the It has been my privilege and pleasure over Shakespeare Globe Trust still has a long the past twelve years to be the Globe’s distance to go. Plans for the Exhibition and Chief Executive and to work with a the Education Centre are not yet realized. remarkably talented group of executives The Trust’s fundraising task is a little over and non-executives, including of course half finished.’ a legion of dedicated staff members too Over the course of the next 13 years, Sir numerous to mention. But in addition to Michael and his successor as chairman, Sir Michael and Roger, I must pay special Roger Parry, have recorded in their Annual tribute to Robert Brooke, Chairman for Review statements an increasing sense of so many years of the International pride and wonder as the achievements of Shakespeare Globe Centre Ltd and now that first season have been exceeded in Deputy Chairman of the Trust, to other each successive year. It is no small miracle officers of the Trust, the committee chairs, that at the end of 2010 and in the face of the Trustees and to the members of The world wide economic recession, the Globe Shakespeare Globe Council. I am indebted

8 to them all for their support, encouragement expect of education departments in and guidance. Throughout the period, the theatrical institutions. Globe has been enriched by the dedication All of this has been achieved with a sense of those serving with the Shakespeare of playfulness which lies at the very heart Globe Centres overseas and by its quite of all that the Globe does. remarkable and ever expanding army of volunteers, without whom we could not If I have been a reasonable steward and present our full programme of activities. ‘care-taker’ of this remarkable organization, Those who serve the Globe in a voluntary I am content and I wish my successor as capacity are the treasures that underpin Chief Executive, Neil Constable, great joy our miracle. in leading the company through the challenges and undoubted pleasures that The work that the Globe presents – lie ahead. whether it be at our home on Bankside, through the work of our touring companies, the appeal of the exhibition, the wide array Peter Kyle OBE of educational activities or through a range ChIEF EXecutive 1998-2010 of online and digital media – plays to an increasingly large, enthusiastic and international audience, engaging with all ages and many nationalities. That work has been created, supported and nurtured by highly gifted colleagues. I consider myself fortunate indeed to have worked alongside some of this country’s most gifted artists and educators. The Globe has benefited from two exceptional artistic directors, both of whom in their own styles have been hugely successful, pioneering, innovative and daring, while the Globe’s Director of Education and his teams have raised the bar and redefined what we have come to

9 Theatre

Flying in the face of growing economic Macbeth was followed by the rarely played Our two tours continued to prove popular strain, and news of cuts in the arts world, Henry VIII, which had last been seen when across the country and Europe; audiences 2010 saw the Globe produce its most the first Globe burnt down in 1613. We turned out in all weathers for a hilarious successful season ever. The theme of the arrived at this anniversary with some slap-stick Comedy of Errors and a sexy romp season was Kings and Rogues and we had trepidation but thankfully the show passed of a Midsummer Night’s Dream. We visited a grand flourish of both. From despots and with no use for our sprinkler system. Mark eight new venues in the UK and continued dictators to the kindly and kingly, the Rosenblatt’s production turned the much- on our now well-tread path across Poland, theatre was crammed full of characters maligned text into a political thriller and Norway, Austria, Malta and Germany. We divine and debauched. packed the theatre full of the glamour and pushed forward with plans to film as many glory of the Tudor court. This was followed productions as possible, extending the The year began earlier than usual, with a by the Henry IV plays. Roger Allam’s season by a week in order to accommodate long tour of the US with Love’s Labour’s Lost, irrepressible Falstaff charmed the crowds the sell-out popularity of the two Henry IV which made many new and exciting friends and earned him an Olivier award as well productions and enable us to document the for the Globe across the States. It was so as an Evening Standard award nomination, performances on film (due for worldwide rewarding that we are now determined to and the heavyweight cast of , release in May 2011). Henry VIII was also try and make the touring of North America William Gaunt and amongst recorded as was the tremendously popular a regular part of what we do. others, made for a great showcase of talent Merry Wives of Windsor, back for its second Innovation continued with our first held within our great national pageant. season from 2008, before embarking on experiment in winter playing. The a US and UK tour. The new writes were again successful, with renowned international touring company Howard Brenton’s Anne Boleyn selling out As always, the deluge of atmosphere, Footsbarn came with a specially created even before the reviews came out. When audience and exhilaration which floods show, the Christmas Cracker, which played the show did finally open it was received this site through the summer months over the two weeks surrounding Christmas with raves for play and production, and will seems to enable the team here to achieve and the New Year. Packed with stunts, be revived in 2011. Our other piece of new tremendous things, year in year out. wonderful music, and clowning, it filled the writing in 2010 heralded another important house up in chilly weather, and proved Globe first. Bedlam, by Nell Leyshon there is a winter audience for the Globe. Dominic Dromgoole was the first piece penned by a female Artistic Director The season proper opened with a visceral playwright in any of the Globe’s histories. Macbeth staring Elliot Cowan and Laura It was a terrific piece of writing which Rogers, with an innovative design that embodied the chaos and cruelty of stretched a cloth across the yard Augustan London. transforming it into the ‘ninth level of hell’.

10 Anne Boleyn Macbeth ‘The strongest opener to a Globe season ‘Brenton’s inventive new play... The Globe I have seen.’ The Times is a brilliant forum for intellectual debate.’ Henry VIII The Independent ‘If the Globe had a roof, this production would surely have blown it off... Represents the theatre at its very best and makes for a joyous spectacle.’ Sunday Telegraph

Henry IV ‘One of this popular theatre’s finest achievements... Roger Allam strikes me as the best Falstaff for 20 years.’ Daily Telegraph

The Comedy of Errors ‘Skilfully bring the ambience of 17th-century theatre into the 21st century… The energy of the cast is truly electric.’ whatsonstage.com

A Midsummer Night’s Dream ‘Summer is all the sweeter for a Shakespeare road trip.’ Daily Telegraph

The Merry Wives of Windsor ‘This is an absolute joy... Sure to spread sunshine wherever it goes... The timing and attention to detail are impeccable. Bliss.’ Time Out

Bedlam ‘Turning the Globe into a chaotic madhouse and filling it with slapstick energy and blackly gleeful exuberance.’ The Independent 11 Education

The building of the Globe Education and Outreach courses for teachers took Globe All 22 accredited UK drama schools Rehearsal Centre (the Sackler Studios) may Education practitioners across the UK as participated in the 2010 Sam Wanamaker have limited a growth in the number of well as to Italy, the Lebanon and Germany. Festival. Both King’s College and Queen students visiting us for workshops this year The Globe Education Academy for Teachers Mary University sent undergraduates to the but we were still able to develop our work in association with UC Davis, California Globe for lectures and workshops as part of with local, national and international secured funding for a further three years. their degree courses and Globe Education audiences. and King’s College celebrated the 10th Shakespeare’s Globe hosted the 2010 anniversary of their joint MA in A Midsummer Night’s Dream was the play conference for the Shakespeare Theatre Shakespeare Studies. chosen for the annual Our Theatre Association of America with over 80 production with a cast of over 450 Shakespeare Festivals represented. A highlight among a score of lectures given Southwark primary and secondary school by leading Shakespeare scholars was James 20,000 German school students visited the students. We are enormously grateful to Shapiro’s visit to talk about his new book, Globe for workshops and lectures during PricewaterhouseCoopers for this, the Contested Will. Library and Archive staff the year. Shakespeare is German was the fourteenth year of their support for Our began digitizing VHS and DVD archive chosen theme for the Autumn 2010 Events Theatre, the Globe’s flagship community recordings of Globe productions and the programme. It began with the launch of a project. PWC’s generosity is helping us Architecture Research Group continued new book of translations of Goethe on raise educational achievement and to test published research regarding the Shakespeare commissioned by Globe employment skills throughout Southwark. Worcester College, Oxford plans for a Education and included a special evening Beyond our borough, a ten-week residency 17th-century theatre. This will inform the ‘Shakespeare – A German Writer’, starring at the Evelina Hospital School in Lambeth building of the Indoor Jacobean Theatre Sebastian Koch. ended with a site-specific performance of on the Globe site that will follow the As You Like It. Globe Education was accredited by the completion of the Sackler Studios. British Accreditation Council and thus 80% of the bookings for our Learning In September we said a fond farewell to fulfilled UK Border Agency Requirements programme at the Globe for school Deborah Callan, Globe Education’s Head that will allow us to welcome international students and teachers were repeat visits. of Department and Events, who left the students for our wide range of The fourth annual Playing Shakespeare with Globe after 18 years of dedicated service. undergraduate and graduate courses. Deutsche Bank production was extended by These include BFA acting students from a week which allowed over 14,000 students Rutgers University who spend their entire Patrick Spottiswoode from across London to receive free tickets third year studying at the Globe. Director, Globe Education for Macbeth at the Globe. Students from over 57% of London secondary schools Sixteen summer schools were offered this have now participated in the Playing year for school students, undergraduates Shakespeare project. and MFA students as well as for international teachers. 12 13 Exhibition & Commercial Activities

Despite a continuing challenging economic scheme. The guided tour of the theatre in of 37 watercolours inspired by the plays demonstrations, activity weekends and context, all the Globe’s major income- particular continued to represent a highly of Shakespeare and paintings from the story-telling sessions covering topics such generating activities performed vigorously attractive proposition to both domestic National Gallery, and Patients & Psychiatrists, as sword-play, costume-dressing, printing in 2009/10. and overseas visitors with survey data featuring etchings of staff and patients techniques and woodworking; all consistently demonstrating very high at Bethlem Royal Hospital, which contributing to our mission of promoting The Exhibition and Theatre Tour, which satisfaction levels. Within the Exhibition we complemented the 2010 production the understanding and enjoyment of is offered all year round to visitors, for continued to deliver a vibrant programme of Bedlam. In addition, we continued Shakespeare in performance. In 2008/9 a second year welcomed over 300,000 of small temporary exhibitions. These to enhance the overall visitor experience we ran some 800 events in the Exhibition; visitors, thereby putting it in the top ten included Shakespeare’s Treasure, a collection with an extensive range of displays, in 2009/10 this was increased by some visitor attractions on the London Pass

14 50%, to over 1,200 events. The financial customers with what they want. We bar and restaurant business continues to graphic identity which we started to roll out performance of the Exhibition & Tour was have always offered a relatively high show substantial growth on the back of in the latter part of the year. The new similarly impressive with the bottom-line proportion of Globe-branded merchandise buoyant theatre audiences but also as a identity provides a strong and consistent contribution outstripping budget by 18%. (circa 80%) within the shop and we consequence of the continually improving design framework for all future printed continued throughout 2009/10 to develop reputation of the Swan Bar and Brasserie collateral and communications activity and Our secondary income-generating activities attractive bespoke ranges linked to theatre as a destination drinking and dining will be reflected across new digital formats of retail and catering also fared very well productions and to create more experience. As a result of more vigorous including a totally new Globe website despite a difficult trading year for these merchandise which reflects the Globe’s PR activity by Swan over the year, the which will be launched early in the next sectors in general. The Globe shop once unique architecture. The latter part of the restaurant in particular has enjoyed some financial year. again exceeded all income, margin and year saw intense preparations being made very positive national press and broadcast bottom-line contribution expectations and for the launch of a new online shop in media coverage. A pilot for a major TV turned in a net contribution for the year Mark Sullivan Spring 2011, which we believe will lead series based on Elizabethan cooking 10% ahead of budget. Although the year Commercial Director to a step-change in our retail performance techniques has already been filmed and started slowly, principally due to adverse and, very importantly, provide us with an is being marketed to major television weather and travel disruptions, the very opportunity to further expand the product- channels. successful – and extended – theatre season offering and cater for a more diverse provided a strong visitor trading base on We have long recognised that the real audience than that which currently which we were able to capitalise. A wide commercial potential for the Globe exists patronises the on-site shop. range of improvements were made to the beyond our Bankside site via the shop’s lighting, merchandising and general Concession income from the catering and exploitation of the Globe brand. In order product-offering over the year. The greatly events operation, managed by Swan, grew to ensure that the brand (and particularly increased average transaction values by 14% on last year with hospitality events its visual manifestations) is suitable for such clearly demonstrate that we are providing performing well in a difficult market. The exploitation, we have developed a new

15 AUDITOR’S STATEMENT

Independent Auditor’s statement to Members of The Shakespeare Globe Trust

We have examined the summary financial Our report has been prepared pursuant to Opinion statement for the year ended 31 October the requirements of the Companies Act In our opinion the summary financial 2010 set out on pages 18 to 24. 2006 and for no other purpose. No person statement is consistent with the full annual is entitled to rely on this report unless such financial statements and the Trustees’ Respective responsibilities of trustees a person is a person entitled to rely upon Report of The Shakespeare Globe Trust for and auditors this report by virtue of and for the purpose the year ended 31 October 2010 and of the Companies Act 2006 or has been complies with the applicable requirements The trustees are responsible for preparing expressly authorised to do so by our prior of section 427 of the Companies Act 2006, the Annual Review in accordance with written consent. Save as above, we do not and the regulations made there under. applicable United Kingdom law. accept responsibility for this report to any other person or for any other purpose and Our responsibility is to report to you our we hereby expressly disclaim any and all opinion on the consistency of the summary such liability. BDO LLP, Statutory Auditor financial statement within the Annual Epsom Review with the full annual financial statements and the Trustees’ Report, Basis of opinion United Kingdom and its compliance with the relevant 21 March 2011 We conducted our work in accordance with requirements of section 427 of the Bulletin 2008/3, ‘The auditor’s statement Companies Act 2006 and the regulations on the summary financial statement in the made there under. BDO LLP is a limited liability partnership United Kingdom’ issued by the Auditing registered in England and Wales (with We also read the other information Practices Board. Our report on the charity’s registered number OC305127) contained in the Annual Review and full annual financial statements describes consider the implications for our report the basis of our opinion on those financial if we become aware of any apparent statements and on the Trustees’ Report. misstatements or material inconsistencies with the summarised financial statement. The other information comprises only the information contained in pages 1 to 15 of this Annual Review. 16 17 FINANCIAL commentary

Excluding funds received in respect of its purposes in the form of admission charges 350,000 theatre attendees and played to The Lively Action programme of workshops Capital Campaign and net of associated to the theatre and exhibition, together with 91% attendance capacity overall, up 4% designed specifically for children from the costs, the Trust generated an operating fees for educational services. Secondary on the previous year. Approximately 40% ages of 5 to 18 welcomed over 80,000 surplus of £0.327 million (2009: £0.063 revenue is generated largely from visitor of our audience paid only £5 to stand as students to the Globe for half or one-day million) for the year to 31 October 2010 spending in the on-site shop and catering ‘groundlings’ to watch our performances. workshops from over 2,500 schools, of (2009: 55 weeks to 7 October 2009) on and facilities hire. Recurring annual We estimate in the region of 50% of our which 70% were repeat visits. Education consolidated operating income of £14.645 sponsorships, corporate support and audience is under 35 years of age. work within the Southwark community million (2009: £13.833 million). In sum, and general donations make up less than 10% included a production of A Midsummer Two small-scale Shakespeare productions including funds received in respect of its of the group’s annual incoming resources. Night’s Dream, which involved over 400 played to approximately 38,000 people Capital Campaign, the Trust reported a students on stage and was again supported at over 30 venues across the UK and in surplus of £2.224 million (2009: £1.536 by PricewaterhouseCoopers. Excellence Result for the year Europe, and regularly achieved full houses. million) in its statutory accounts for the year in Southwark funding enabled Globe In addition there was a full-scale tour to 31 October 2010 (2009: 55 weeks to 31 Consolidated operating income at £14.645 Education to actively engage with schools across North America of our production October 2009) on consolidated income million (2009: £13.833 million) was up 6% in the community and included the of The Merry Wives of Windsor. It played of £16.615 million (2009: £15.530 million). on the previous year, mainly due to an development of three Southwark youth to substantial houses and helped to develop exceptionally successful theatre season at theatres. We need to find alternative new and existing relationships. Principal funding sources the box office. Trading income continues funding for our work in Southwark schools to provide much-needed support to our Education fees were down 9% on the now that Excellence in Southwark funding Shakespeare’s Globe receives no direct charitable activities, contributing 19% of previous year, reflecting a loss of available has run its course. annual government subsidy for its core total operating income in 2010 (2009: 19%). studio spaces whilst the new Education and The Exhibition & Theatre Tour attracted artistic and educational work. We rely on Rehearsal Studios were being created. This The 2010 Kings and Rogues theatre season 307,000 paying visitors (2009: 309,000) and our own ability to generate income, income was boosted by the generous included nine productions, seven played generated income of £1.993 million (2009: supported by fundraised income from a support received in respect of this year’s at the Globe’s home on Bankside, one of £2.004 million). The Exhibition was attended number of sources including friends and Playing Shakespeare project (Macbeth) from which then toured to the USA, and two free of charge by 5,352 visitors as part patrons, corporate partnership funding and Deutsche Bank. This provided free theatre were presented on tour in the UK and of our policy to provide free access on the sponsorship, grants and donations, as well tickets for over 14,000 12-16 year olds from Europe. These productions comprised Sunday (18 April) preceding Shakespeare’s as a significant contribution from across London boroughs and a series of seven of Shakespeare’s plays (including Birthday (23 April). volunteers to carry out some of our workshops in schools and at the Globe for one revival) and two new plays. activities. over 1,200 London students. Deutsche Trading income of £2.740 million The Globe’s theatre season at Bankside Bank has pledged finance towards similar represented an improvement of 4% on the Around three-quarters of the Trust’s comprised 255 performances compared projects for the next two years. previous year (2009: £2.633 million). Income incoming resources derive from primary to 273 in the previous year, attracted over from the Trust’s catering facilities grew by

18 14% and retail activities achieved growth In addition, one of the two remaining £0.3 million of this increase relates to the Total net assets of the group at the balance of 5% on the previous year, both of which external preference shareholders, to whom cost of filming four of our Shakespeare sheet date were £31.607 million (2009: were pleasing results in the current the Trading Company owes a long term productions for subsequent release via £29.070 million). Consolidated unrestricted economic climate. liability, surrendered their shares to the a range of media, undertaken for the assets as at 31 October 2010 were £3.698 Trust during the period, following the second year running but financed for the million, sufficient to meet the Trust’s The Trust’s fundraising activities continue surrender by eight preference shareholders first time from our own resources; it is reserves policy as detailed below. to range from the development of funding in the previous year. This has improved the expected that related future revenue partnerships with the corporate sector and In 2008 the Trust determined to enhance Group’s cash flow by a further £0.005 streams will enable such annual investment grant-making trusts to the promotion of a its facilities to better support its charitable million per annum (2009: £0.040million) and to become self financing over a period range of individual giving and membership activities by creating: reduced its long term liabilities by a further of time. scheme opportunities through the Friends • a custom-built Education and Rehearsal £0.3 million (2009:£2.5 million). of Shakespeare’s Globe (‘the Friends’), The balance of the increase to expenditure Centre Patron Schemes and other on-going The Trust relies on a significant contribution on the previous year relates to greater • a faithfully reconstructed 17th-century appeals, in addition to our Capital from volunteers to carry on its activities, investment in maintaining the Trust’s Indoor Theatre Campaign discussed further below. The mostly in the form of a growing pool buildings and its facilities to ensure they • a Library and Research Centre primary focus through all of these fund- of over 500 enthusiastic and dedicated continue to be ‘fit for purpose’. The combined cost of these three projects raising activities is to generate revenue volunteer stewards who provide essential Capital expenditure amounted to £3.222 was estimated at £20 million and the Trust support for the Trust’s educational and house management support throughout the million over the period (2009: £1.737 million). launched a Capital Campaign in support theatre programmes, with particular summer theatre season and at other public Of this £3.016 million related to the creation of these projects in the same year. Cash emphasis on the community education events from time to time. Other volunteers of the Sackler Studios – the Globe’s new donations and pledges, including £2.6 and outreach work carried out by Globe work on the donations/Friends’ desk in the Education and Rehearsal Centre, as part million committed by the Trust from its Education. theatre foyer, helping with the Trust’s fund- of the overall £6.1 million project – bringing own resources, amounted to £7.4 million raising efforts by accepting donations from Unrestricted donations of £0.384 million the cumulative spend on this project to the at the end of this financial year. tour groups and other visitors to the Globe (2009: £0.501 million) were down 23% on end of October 2010 to £4.296 million. The all year round. Work to create the new Globe Education the previous year. This includes Friends balance of outstanding expenditure relates and Rehearsal Centre, now named Sackler subscriptions and donations which No monetary amount has been included in to the purchase of the freehold for which Studios in recognition of a £1.5 million gift amounted to £0.299 million (2009: £0.372 the Trust’s voluntary income for the period payment is not due until March 2011, from the Mortimer Sackler Foundation, was million), down on the previous year due to a to reflect the value of the ‘in kind’ support contract retentions with the principal all but complete by the end of the financial one off donation that year of £0.075million. provided by the Trust’s volunteers. It contractor and some minor additional year. The Centre comprises four new is estimated, however, that the in kind fitting out works to provide a public café Restricted Donations totalled £2.391 education studios and a rehearsal space contribution from volunteer theatre to be carried out in January 2011. million (2009: £2.013 million), of which with dimensions to reflect the Globe’s stage stewards, many of whom are also members £1.954 million (2009: £1.697million) relates The remaining £0.206 million of capital and is located at 1 Bear Gardens, one block of the Friends’ scheme, exceeded 36,000 to our Capital Campaign. Restricted funds expenditure included a box office system away from the main Globe site. hours over the year, at an estimated value to support our Education and Theatre upgrade, upgrades to our computer backup in excess of £0.235 million per annum. The project was successfully completed by activities totalled £0.275 million (2009: 0.327 systems, replacement archiving equipment our contractor, Durkan Ltd, with one of the million). Other restricted monies received in Consolidated operating expenditure to record each production for research original architects for the reconstructed 2010 include £0.050 million to carry out a amounted to £14.318 million (2009: £13.770 and archival purposes, a new show relay Globe Theatre, Jon Greenfield, responsible Master Planning exercise for the Globe’s million), an increase of 4% on the previous system, and some electrical and fire alarm for the core structure of the building and estate and £0.075 million to support new year. upgrade works. planning, and Eldridge Smerin, architects branding and PR initiatives.

19 responsible for the interior look and feel The Trust’s consolidated unrestricted • Growing visitor numbers (currently of the building. reserves as at 31 October 2010 of £3.698 300,000) and yield to the Exhibition million meet the needs of this policy. The & Theatre Tour. The project was completed on budget, Trust’s designated reserves include £2.6 • Optimising use of the new Globe at £6.1 million; the building was officially million of its own resources allocated to Education and Rehearsal Centre. opened by HRH The Duke of Edinburgh on its Capital Campaign. • Developing a ‘Master Plan’ for the site, 10th November 2010, and will become fully to realise the second and third phase operational in early 2011. The Trust’s reserves policy is subject to of the Trust’s capital development plans: regular review to ensure that its retained The second phase of the Trust’s Capital a 17th-century Indoor Theatre and a reserves meet the long term needs of the Campaign, a £7 million campaign to fund Research Centre and Library, and to organisation on an ongoing basis. the interior fit out of the Indoor Jacobean create new facilities to enable the growth Theatre located on the Globe’s main site, As with last year, the Trust starts this new of our commercial revenue. will commence in early 2011. Subject financial year in an economically uncertain • Raising the balance of the Capital to raising the necessary funds it is hoped environment. This presents significant Campaign funding needed to enable this project might start towards the end of challenges for an organisation committed the completion of the Trust’s capital 2012 with the opening of the new Indoor to the continued development of its development plans outlined above. Jacobean Theatre at the end of 2013. charitable activities but solely reliant on We embrace these challenges with a its own ability and the contribution of its committed team and a highly valued family supporters to generate funds, particularly Financial Management policies of supporters. when also delivering a necessary capital The principal financial management policy programme to better support such continues to be the conservation of long- activities. The main challenges in 2011 are: Liz Fosbury term charitable funds and improving • Maintaining income from commercial Chief Finance and Operating Officer reserves, whilst ensuring that adequate activities and fundraising in the current Shakespeare’s Globe working capital is maintained to undertake economic climate in order to continue 1 February 2011 efficiently the full range of the Trust’s to support the planned level of charitable charitable activities. activities. • Achieving theatre attendance levels Reserves policy of 75% to 85%. The Globe’s unrestricted charitable reserves will be maintained in the following manner: • A minimum level of liquid reserves of £1.6 million to be held by way of operating contingency at all times; • Designation of a £1 million facilities maintenance and renewal fund.

20 21 Summarised Financial Statements

These summarised financial statements are a summary of information extracted from the statutory Annual Report and The annual accounts were approved on 21 March 2010. Accounts for the year ended 31 October 2010. They may not contain sufficient information to allow for a full The accounts have been audited by a qualified auditor, understanding of the financial affairs of the charity. For further information, the full annual accounts, the auditor’s report BDO LLP, who gave an audit opinion which was unqualified on those accounts and the Trustees' Annual Report should be consulted. Copies of these can be obtained from the Chief and did not include a statement required under section 237 Finance and Operating Officer, Shakespeare’s Globe, 21 New Globe Walk, Bankside, London SE1 9DT. (2) and (3) of the Companies Act 1985. Roger Parry Summary consolidated operating income and expenditure account Chairman For and on behalf of the Board of Trustees, 21 March 2011 52 weeks to 55 weeks to 31 October 2010 7 October 2009 £'000 £'000 Income Theatre & Exhibition Admissions, Educational Services and Touring net income 10,947 10,246 Other trading receipts 2,740 2,633 Partnership funds, including donations, legacies and other gifts 804 817 Bank interest receivable 154 137 Total operating income 14,645 13,833 Expenditure Fundraising costs 143 353 Personnel costs (including theatre performers and education practitioners) 5,457 5,339 Primary purpose charitable trading expenditure (non-staff related) 4,054 3,327 Other trading costs 837 979 Marketing costs 318 410 Facilities, property and other support costs 2,150 1,974 Net depreciation 1,319 1,349 Governance 41 40 Total operating expenditure 14,318 13,770 Operating surplus 327 63 Capital campaign funds received 1,970 1,697 Capital campaign direct costs (73) (224) Operating income comprises all income received during the year excluding funds received in respect of the Trust’s capital Net capital campaign funds received 1,897 1,473 campaign, shown separately below; total incoming resources Total surplus 2,224 1,536 within the Trust’s statutory accounts include capital campaign income. Similarly, operating expenditure excludes direct Subsidiary company share transfer 312 2,565 fundraising costs in respect of the capital campaign, shown Adjusted surplus 2,536 4,101 separately below; total resources expended as per the statutory accounts include such costs. 22 Summary consolidated balance sheet At 31 October At 31 October 2010 2009 £'000 £'000 Fixed assets 24,723 22,702 Current assets 10,027 8,913 Creditors: amounts due within one year (2,275) (1,421) Net current assets 7,752 7,492 Total assets less current liabilities 32,476 30,194 Creditors: amounts due after more than one year (869) (1,124) 31,607 29,070

Capital and reserves Accumulated funds Designated 18,850 14,077 Unrestricted 3,698 5,025 Restricted 8,894 9,808 31,442 28,910

Capital redemption reserve 165 160 31,607 29,070

Consolidated cash flow statement 52 weeks to 55 weeks to 31 October 2010 31 October 2009 £'000 £'000 Net cash inflow from operating activities 2,951 2,720 Interest received 153 137 Decreases in cash on deposit (1,000) (3,000) Purchase of tangible fixed assets (3,222) (1,737) Net cash inflow before financing (1,118) (1,880) Increase in cash and cash equivalents (1,118) (1,880) 23

Income & Expenditure Charts 2010 2009

5% 1% 6% 1% The Shakespeare Globe Trust Consolidated Income theatre & exhibition admissions, educational services & touring net income 19% 19%

other trading receipts

partnership funds, including donations, legacies & other gifts

bank interest receivable 75% 74%

The Shakespeare Globe Trust Consolidated Expenditure fundraising costs 0% 1% 0% 3% 9% 10% personnel costs (including theatre performers & education practitioners) 38% 39% 15% 14% primary purpose charitable trading expenditure (non-staff related)

other trading costs 2% 3%

marketing costs 6% 7% facilities, property & other support costs net depreciation

governance 29% 24% 24

Supporters

MAJOR PARTNERS CORPORATE MEMBERS INDIVIDUALS Deutsche Bank Bates Wells & Braithwaite London LLP Director’s Circle Courtiers PricewaterhouseCoopers Chubb Insurance Company of Europe SE Bruce Carnegie-Brown Runa Alam Mizuho International plc Martin Clarke Kirsty Jane Anson MEDIA PARTNERS SAGE Publications Iraj & Eva Ispahani David & Beverley Banks Financial Times Sapphire Systems plc Clive Lampard John Callaghan Mark & Liza Loveday Stephen Cattell CORPORATE SUPPORTERS TRUSTS & FOUNDATIONS Brian Mitchell The Cielinski Family The Arden Shakespeare The 29th May 1961 Charitable Trust Danny Witter Angel Collado-Schwarz SJ Berwin LLP Anonymous Neil Constable & Chris Martin Nobles Commerzbank AG The Bernard Sunley Charitable Foundation Sheila Davis Credit Suisse The Boris Karloff Charitable Foundation Adrian Babbidge & Rosemary Ewles William Davis Manchester University Press The Boshier-Hinton Foundation Michael Capp Mary Jane Donaldson Maviga International (Holdings) Ltd Coutts Charitable Trust Nicholas Craig Liz Fasciana Old Mutual plc The Eranda Foundation David & Olga Dalton Nick Grewal Reed Elsevier The Eric Anker-Petersen Charity Robert & Sara Erith John & Pauline Hunter S-E-T Studienreisen The Fidelio Charitable Trust Martin Gill Peter King Spotlight Fidelity UK Foundation James Harvey Stephen Lucas Standard Chartered Bank The Garfield Weston Foundation Andre Hoffmann Darren Newman Sumitomo Corporation Europe Ltd The Golsoncott Foundation David & Eleanor Holloway Martin Payne The Gosling Foundation John Holser Colin Pearson IN-KIND SUPPORTERS The Harold Hyam Wingate Foundation Sir Michael & Lady Perry Alison Reeve Ford Motor Company Ltd The John Coates Charitable Trust Dyrk & Margaret Riddell Michael & Janice Rich Hurtwood Press John Lyon's Charity Susan Robinson Ladislaus von Hoffmann John Good The Leche Trust Teresa Satterthwaite Gail Wiegman The Leverhulme Trust Stephan & Rosamund Shakespeare Dr Mortimer and Theresa Sackler Dr David Speller THE FRIENDS OF SHAKESPEARE’s GLOBE Foundation Brian Symons The Peter Harrison Foundation John & Madeleine Tucker The Royal Victoria Hall Foundation Joan Weberman The Sidney E Frank Foundation The Steel Charitable Trust The Thompson Family Trust The Wates Foundation The Wolfson Foundation

25 Governance

The Shakespeare Globe Trust Executive Committee HRH The Prince Philip Neil Constable Christina Blair Barbara Gaines Hon. OBE Norbert Kentrup John Rodwell Patron Chief EXecutive (from Lyle Blair Peter Gill OBE Alan King Anne Rowley Trustees November 2010) Lord Blair of Boughton Anne Gilmour Geoffrey King Rudi Bogni Emma Gilpin-Jacobs Nancy Knowles-Kolden Dawn Sanders QSM Roger Parry Dominic Dromgoole Chairman Artistic Director Liz Brewer Julian Glover Peter Kyle OBE Prunella Scales CBE Tony Britton Charles Goldman Jane Lapotaire Stuart Sessions MBE Liz Fosbury Robert Brooke Robert Brooke Kenneth Grange CBE Robert Leaf Barry Shaw Deputy Chairman CHIEF FINAnCE & OPERATING OFFICER CBE Jon Greenfield Jerome Link OBE Jack Shepherd Stephen Dingle Alan Butland Professor Andrew Gurr James Lister Robert D Smith CMG Honorary Treasurer Anthony Hewitt Lord Butler of Brockwell Daniel Hahn Chris Luscombe Tom Stephens DIRECTOR OF DEVELOPMENT Spencer Wigley GCB CVO Jackie Haighton Joseph Marcell Jeanne Strickland Honorary Secretary Patrick Spottiswoode Audre Carlin Patrick Haighton Charles Marowitz Director, Globe EDucation Patrick Tucker Lord Bichard of Nailsworth Bruce Carnegie-Brown Sir Peter Hall Dawn McCormick Dean Claire van Kampen Lord Blair of Boughton Mark Sullivan Jeremy Child Rosemary Harris John McEnery Yolanda Vazquez Bruce Carnegie-Brown Commercial DIRECTOR Martin Clarke Sue Harrison Dr Gordon McMullan Abby Wanamaker Martin Clarke Alan Cox Sandra Hepburn Valerie Mitchell OBE Zoë Wanamaker CBE Neil Constable The Shakespeare Globe Council CBE John Hignett Lady Belinda Morse Matthew Warchus Dr Diana Devlin Sir Michael Perry GBE Professor Frank Hildy Dominic Muldowney Ann Ward Andrew Fraser CMG Chairman Jonathan David Valerie Hill-Archer Philip Murphy Professor Stanley Wells Iraj Ispahani Gordon Davidson Anastasia Hille Heather Neill Lyn Williams CBE Valerie Mitchell OBE Barry Day OBE Thelma Holt CBE Lady Rupert Nevill Convenor Martin Westwood Sir Michael Perry GBE Sir Evelyn de Rothschild Polly Hope Yukio Ninagawa Sheila Allen Professor Martin White David Pickard Professor Alan Dessen Jeffrey Horowitz Richard Olivier Gene Andersen John Whitney Dame Mary Richardson Tom Deveson Lord Howell of Guildford Roger Parry Lucy Bailey Dr Diana Devlin Lady Clare Howes David Pickard Spencer Wigley In attendance at Board Merrick Baker-Bates CMG Stephen Dingle Iraj Ispahani Ian Plenderleith CBE Alan Williams meetings Robert Banks Joe Dowling Graham Jackson Professor Richard Annie Wolfe Zoë Wanamaker CBE Keith Baxter Mark Engelman Lennie James Proudfoot Michael York OBE Honorary President Linda Beaney Robert Erith Jean Jayer Velma Pursehouse Franco Zeffirelli Lucy Beevor Faith Evans Peter Jolly Dr Martin P Read Henry Beltran Paul Farnsworth Michael Kahn Dame Mary Richardson Lord Bichard of Nailsworth Anton Franks Ken Kelling Nelson Skip Riddle Lord Birkett Andrew Fraser CMG Peter Kent CMG Professor Sue Robertson

26 Shakespeare’s Globe 21 New Globe Walk London SE1 9DT 020 7902 1400 shakespearesglobe.com Design C&C Design Ltd The Shakespeare Globe Trust, a limited company registered in England Photography Elliot Franks, Manuel Harlan, John Haynes, Ellie Kurttz, Pete Le May, Lee and Wales No.1152238 and registered charity No. 266916. Shakespeare Mawdsley, Graham Michael, Fiona Moorhead, Keith Pattison, John Tramper Globe Trading Limited registered in England and Wales No. 997433.