## Northampton Gilbert and Sullivan Group
( A company limited by guarantee)
Report and financial Statements
Year ending 31st July 2023
Charity Number: 1039705
Company Number: 2948199
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 JULY 2023**
||**Page**|
|---|---|
|Independent Examiner's report|2|
|Report of the trustees|3 - 6|
|Statement of financial activities|7|
|Balance sheet|8|
|Statement of Cashflows|9|
|Notes to the financial statements|10-14|
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## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **REPORT OF THE COUNCIL OF MANAGEMENT ( The Trustees) for the year ending 31st July 2023**
The trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ending 31st July 2023 which are also prepared to meet the requirements for a directors'report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of association, the Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland ( FRS 102 ) ( effective 1st January 2015).
## **Chair's report**
Ruddigore being one of the less well known of the Gilbert & Sullivan Operetta's to sell and in the event this proved to be the case.
The production itself was very well received by our audiences, but with fewer people buying tickets we ended the show in a position where we owed money to the theatre rather than receiving a surplus, and we remain eternally grateful for the very kind donation from the Strauss Charitable Trust and other donors who have stepped in to enable the group to continue to perform.
We look to our next performance being the Mikado to help put our finances on a better level.
Simon Crask Chair
## **Our purposes and activities**
As a musical society solely dedicated to the works of W.S.Gilbert and Sir Arthur Sullivan, we have a duty to present as wide as possible a selection of their output. We have presented all fourteen of the duo's collaborations in Northampton since the group was formed 70 years ago. However, some of these Victorian-era productions have stood the test of time better than others, so we have a conscious policy of subsidising less popular productions with a more regular presentation of known favourities.
## **Achievements and performance**
As stated above the Group having worked hard to put on a good show in April 2020 were prevented from all activity from the first lockdown onwards. In the meantime a concert has been held in November 2021 at Hardingstone church, which was very well received.
Page 3
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **Report of the trustees for the year ended 31st July 2023**
## **Financial review**
The accounts show a surplus of income over expenditure of £247 (2022 deficit £1,868) This breakeven situation has only been achieved through the generousity of our donors who contributed £12,375 to our revenue stream.
## **Our pricing policy**
Full ticket prices for our productions ranged from £16.50 to £19. There is a special rate of £15 for Schools
## **Investment powers and policy**
As far as the trustees have had opportunity, surplus funds have been lodged in a COIF Charities Deposit Fund.
## **Reserves policy and going concern**
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency expenditure. The trustees consider that the ideal level of reserves is a sum to cover the cost of putting on the next years production, a minimum amount of £15,000.
## **Plans for future periods**
The results from our current production will largely determine the direction that the group will take.
## **Reference and administrative details**
Charity registration number - 1039705
Company registration number - 2948199
## Registered office
7 Ashworth Street Daventry Northants NN11 4AR
## Bankers:
Barclays Bank plc PO Box 23 St Giles Square Northampton NN1 1DB
Page 4
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **Report of the trustees for the year ended 31st July 2023**
## Solicitors:
Hewitsons 7 Spencer Parade Northampton NN1 5AB
## Trustees and Directors
The committee of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees serving during the year were as follows:
S N Crask Chairman & Acting Treasurer Ms H Crockatt Hon. Secretary Mrs S Crask Hon. Social Secretary Mr C Morley-Smith
Mrs J Pearson
Ms A Woods
Mr V Collins Business Manager
## **Structure, governance and management**
## **Governing document**
Northampton Gilbert and Sullivan Group is a company limited by guarantee governed by its Memorandum and Articles of Association dated 13th July 1994. It is registered as a charity with the Charity Commission. There are currently 31 members (31members in 2022) each of whom agrees to contribute £10 in the event of the charity winding up.
## **Appointment of Trustees**
The trustees shall consist of not less than 6 members but not more than 9 and may appoint additional members to fill casual vacancies.
All trustees are subject to annual re-election by the membership in General meeting. A retiring Trustee is eligible for re-election.
Page 5
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **Report of the trustees for the year ended 31st July 2023**
## **Risk management**
The trustees have a risk management strategy which comprises
an annual review of the principal risks and uncertainties that the charity faces.
the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
the implementation of procedures designed to minise or manage any potential impact on the charity should those risks materialise.
This work has identified that the financial sustainability is the major risk for the Charity.
## **Trustees' responsibilities in relation to the financial statements**
The trustees are responsible for the preparing a trustees' annual report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice ).
Company law requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the net income or expenditure of the charitable company for the year. 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 Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the at the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Statement as to disclosure to the independent examiner**
In so far as the trustees are aware at the time of approving our trustees' annual report:
- there is no relevant information, being information needed by the examiner in connection with preparing their report, of which the examineer is unaware; and
- the trustees, having made enquiries of fellow directors, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant information that the examiner may need and to establish that the examiner is aware of that information.
By Order of the board of trustees
S N Crask Chairman
Page 6
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023**
|**Notes**
**Income:**
Donations and legacies
3
Income from charitable activies
4
Income from other trading activities
5
Income from investments
6
**Total income**
**Expenditure**
Expenditure on charitable activities
7
**Total Expenditure**
**Net income/(expenditure) and net movement**
**of funds in the year**
**Total Funds brought forward**
**Total funds carried forward**|2023
**2022**
**£**
**£**
12,375
6,500
14,748
15,196
1,907
2,992
62
5
29092
24,693
28,845
26,561
28,845
26,561
247
-1,868
11709
13,577
11,956
11,709
**Unrestricted Fund**|2023
**2022**
**£**
**£**
12,375
6,500
14,748
15,196
1,907
2,992
62
5
29092
24,693
28,845
26,561
28,845
26,561
247
-1,868
11709
13,577
11,956
11,709
**Unrestricted Fund**|
|---|---|---|
|||24,693|
|||26,561|
|||26,561|
|||-1,868
13,577|
|||11,709|
The statement of financial activities includes all gains and losses recognised in the year.All income and expenditure derive from continuing activities.
Page 7
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **BALANCE SHEET AT 31 JULY 2023**
||**Notes**|**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
|**Fixed assets**||||
|Tangible assets|12|178|198|
|**Current assets**||||
|Debtors|13|702|600|
|Cash at bank and in hand||12,116|15,847|
|||12818|16,447|
|**Creditors: amount falling due**||||
|**within one year**|14|1040|4936|
|||||
|**Net current assets**||11,778|11,511|
|||||
|**Total Assets**||11,956|11,709|
|**The funds of the charity:**||||
|Unrestricted income funds||11,956|11,709|
The trustees have prepared the accounts in accordance with the Companies Act 2006, s. 398 and the Charities Act 2011, s 138. These accounts are prepared in accordance with the special provosions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
The notes at pages 10 - 14 form part of these accounts
Signed
Name SIMON NEIL CRASK, Chair of trustees on behalf of the trustees
Approved by the trustees on 16/05/2024
Page 8
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **Year ended 31st July 2023**
**Reconciliation of net movement in funds**
|Net income/ (expenditure)
Add back depreciation charge
Deduct interest income shown in investing activies
Decrease /(increase) in Debtors
Increase (Decrease) in creditors
Net Cash used in operating activities
Interest income
Increase (decrease) in cash in the year
Cash at the beginning of the year
Cash at the end of the year
Movement|2023
£
247
20
-62
-102
-3896
-3,793
62
-3,731
15,847
12,116
-3,731|2022
£
-1,868
22
-5
448
4033|
|---|---|---|
|||2,630
5|
|||2,635|
|||13,212
15,847|
|||2,635|
Page 9
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **Notes to the Financial Statements for the year ended 31st July 2023**
## **(1) Accounting Policies**
The principle accounting policies adopted,judgement and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **(** a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS 102) ( effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS 102) and the Companies Act 2006.
Northampton Gilbert and Sullivan Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## (b) Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. The trustees have concluded that no restatement is required.
## (c) Preparation of the accounts on a going concern basis
The trustees reported a cash outflow of £3,731 (2022 inflow of £2,635). The trustees are of the opinion that with close attention to costs and a popular show booked the immediate future for the next 12-18 months is secure and that on this basis the charity is a going concern.
## **(e) Income**
Income is recognised when the charity has entitlement to the funds.
## **(f) Donated services**
In accordance with the Charities SORP (FRS102), general volunteer time is not recognised.
## **(g) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this normally upon notification of the interest paid or payable by the Bank.
## **(h) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. There are no Designated or Restricted funds. and subscriptions, excluding trade discounts.
## **(i) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or consructive obligation to make a payment to a third party, it is probable that settlement will be required and the anount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: expenditure from charitable activities representing the direct costs incurred in the
expenditure from charitable activities includes the costs of performances undertaken to further the the purposes of the charity.
other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Page 10
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **(j) Tangible fixed assets**
Individual fixed assets costing £200 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a reducing balance basis;-
## **Asset category**
Piano - Annual rate 10%.
## (k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid netof any trade discount due.
## (l)Cash at bank and in hand
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## (m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting
from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## (n) Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## (o) Transition to FRS 102
The trustees found no items that required restatement in making the transition to FRS 102.
## **2. Legal status of the trust**
The trust is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £10.
## **3. Income from donations and legacies**
|**3. Income from donations and legacies**
Donations
The group is particularly indebted to the support of the from
Strauss Charitable Trust .
**4.Income from charitable activities**
Production income (net of concessions)
Concerts
Support from Patrons and Friends
**5. Income from other trading activities**
Membership Subscriptions
Sale of DVD's to members
Income from Social events
Other income
**6.Income from investments**
Income derived from COIF Charity Funds|**2023**
**£**
12,375
14,393
0
355
14748
1,927
0
-20
0
1907
62
.|**2022**
**£**
6,500
14,748
150
298|
|---|---|---|
|||15,196|
|||2,920
0
64
8|
|||2,992|
|||5|
||||
Page 11
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **CHARITABLE ACTIVITIES**
**7**
|**Total Unrestricted**
**2023**
£
Theatre hire
12,236
Commission
**2,375**
Set hire and lighting
2,887
Costumes
946
Props expenditure
452
Honoraria
1500
Travelling & hotel
1,264
Orchestra costs (including pianist)
4,389
Room hire
1,483
Transportation and mileage
Photographs and DVDs
Printing, postage and stationery
230
Storage costs
200
Web costs
43
Advertising
**407**
Insurance
187
Subscriptions
188
Sundry expenditure
38
Governance costs
20
**28,845**
**GOVERNANCE COSTS**
**£**
Legal and professional
0
Depreciation
20
20|**2022**
**£**
11,711
2,530
2,804
500
292
750
879
4,040
1149
658
48
383
200
105
29
209
162
90
22|
|---|---|
||26,561|
||**£**
0
22|
||22|
## **8 GOVERNANCE COSTS**
## **9 EMPLOYEES**
There are no employees of the charitable company.
## **10 Related Party transactions**
There were no related party transactions in the year
## **11 Corporation Taxation**
The charity is exempt from tax on income and gains falling within the Taxes Act 1988, s 505 or the Taxation of Chargeable gains Act 1992, s 252 to the extent that these are applied to its charitable objects.
Page 12
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **12 Tangible fixed assets**
|**Piano**
**£**
**Cost**
At 1st August 2022
2,153
**At 31st July 2023**
2,153
**Depreciation**
At 1st August 2022
1,955
Provided in the year
20
**At 31st July 2023**
1,975
**Net book amount at 31st July 2023**
178
Net book amount at 31st July 2021
198
All tangible fixed assets were used for charitable purposes.
**13**
**DEBTORS**
**2023**
**£**
Trade debtors
150
Sundry Debtors
240
Prepayments and accrued income
312
702
**14**
**Creditors: amounts falling due within one year**
**£**
Trade creditors
0
Accruals
0
Deferred income
1040
1040|**Total**
**£**
2,153|
|---|---|
||2,153|
||1,955
20|
||1,975|
||178|
||301|
||**2022**
**£**
300
0
300|
||600|
||**£**
0
4,119
817|
||4936|
The subcriptions year runs from 1st april to 31st march each year, the deferred income represents that proportion of the annual subscriptions collected before the year end which relates to the period after the 31st July.
## **15 CAPITAL COMMITMENTS**
The charitable company had no capital commitments at 31st July 2023 (2022: £nil)
Page 13
## **NORTHAMPTON GILBERT AND SULLIVAN GROUP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **16 CONTINGENT LIABILITIES**
There were no contingent liabilities at 31st July 2023 (2022: nil).
## **17 Post-balance sheet events**
The trustees are not aware of any post balance sheet events which would affect the figures reported in the accounts.
Page 14