## **Trustees' Annual Report for the period**
Period start date Period end date Day Day 1 January 2023 31 December 2023 **From To**
## ~~ee~~ Section A Reference and administration details
**Charity name**
## WORTHING MUSICAL COMEDY SOCIETY
**Other names charity is known by**
W M C S
**Registered charity number (if any)** 1043845
**Charity's principal address**
The Studio
2A the Drive WORTHING, West Sussex **Postcode BN11 5LL**
**Names of the charity trustees who manage the charity**
**Dates acted if not for whole Name of person (or body) entitled Trustee name Office (if any) year to appoint trustee (if any)** ~~es es es~~ 1 Wendy Dunn ~~eees ee~~ 2 Victoria Emerson Chair ~~ee es es~~ 3 Denis Fuller ~~rs~~ 4 Lynn Fuller Secretary ~~ee esGses~~ 5 James Re ~~rs~~ ynolds 6 Nikki Reynolds ~~ee esGses~~ 7 Natalie Stone ~~rs~~ 8 Heather Roberts Treasurer 28/06/23 – 31/12/23 ~~ee es~~ 9 Amy Hart ~~ee ee es~~ 10 Nicole Henman Treasurer 01/01/23 – 28/06/23 ~~ee es es~~ 11 ~~ee esGs~~ 12 ~~ee eses~~ 13 ~~ee eeGs~~ 14 ~~ee eses~~ 15 ~~ee esPs~~ 16 ~~ee eses~~ 17 ~~ee tsGs~~ 18 ~~ee ee es~~ 19 ~~ee tsGs~~ 20 ~~ee eeesPses~~
**TAR**
**2023**
1
## **Names and addresses of advisers (Optional information)**
**Type of adviser Name Address**
**Name of chief executive or names of senior staff members (Optional information)**
## **Section B Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document
Constitution
- (eg. trust deed, constitution)
How the charity is constituted
Association
- (eg. trust, association, company)
Trustee selection methods Elected at AGM
- (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
**Summary of the objects of the charity set out in its governing document**
The Charity is established to advance the education of the Worthing public in dramatic arts, particularly the art of music and drama, by the production of musical plays and to advance such charitable purposes as the Board of Management shall determine.
Regular workshops for the youth company, supporting their learning in preparation for performance and participation in the local music festival.
**TAR**
**2023**
2
Meeting regularly twice each week to rehearse and instruct members in readiness for planned performances.
Attending local institutions – church, convalescent homes, hospices – to provide entertainment for residents/members and to promote the profile of WMCS.
**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
## **Additional details of objectives and activities (Optional information)**
**TAR**
**2023**
3
You **may choose** to include further statements, where relevant, about:
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
**TAR**
**2023**
4
## Section D Achievements and erformance p
**Summary of the main achievements of the charity during the year**
In 2023 we had two highly successful productions at The Connaught Theatre - _Joseph and the Amazing Technicolor Dreamcoat_ and _Legally Blonde_ - both performed to sell-out houses As in previous years, we took part in the Worthing Summer Carnival, which is a charity event to provide a boost to funds for local charities and highlight the various organisations
**TAR**
**2023**
5
**Section E Financial review** The Charity operates on a non-profit making basis. Any surplus for a **Brief statement of the** financial period is retained to be utilised by WMCS for the benefit of the **charity’s policy on reserves** society and its members. **Details of any funds materially** None **in deficit** ~~—_—~~ **Further financial review details (Optional information)** You **may choose** to include additional information, where relevant about: the charity’s principal sources of funds (including any fundraising); how expenditure has supported the key objectives of the charity; investment policy and objectives including any ethical investment policy adopted. ~~_L~~ **Section F Other optional information Section G Declaration** ~~_~~ **The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s) Full name(s)** Lynn Fuller **Position (eg Secretary, Chair,** Secretary **etc)** 28/10/24
**TAR**
**2023**
6
REGISTERED CHARITY NUMBER: 1043845
## REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
WORTHING MUSICAL COMEDY SOCIETY
Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
WORTHING MUSICAL COMEDY SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|||Page|
|---|---|---|
|Report of the Trustees|1|to 2|
|Independent Examiner's Report||3|
|Statement of Financial Activities||4|
|Balance Sheet||5|
|Notes to the Financial Statements|6|to 10|
|Detailed Statement of Financial Activities|11 to 12||
WORTHING MUSICAL COMEDY SOCIETY
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financialstatements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions ofAccounting and Reporting by Charities:Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITIES Objectives and aims
## ACHIEVEMENT AND PERFORMANCE
## Charitable activities
The Company usually produces and performs atleasttwo shows a year atthe localConnaughtTheatre.In addition additional Concert programmes may be produced from time to time.
## Fundraising activities
promoted from time to time.
## Investment performance
The Committee has the power to invest the Society's funds in any way the trustees wish. The trustees have regard for the liquidity requirement of operating the society and the reserves policy. They have operated a policy of keeping fund with recognised High Street Banks.
## FINANCIAL REVIEW
## Reserves policy
The Charity operates on a non-profitmaking basis.Any surplus for a financialperiod is retained to be utilised by the Charity for the benefit of the Society and its members and to fund the main activity of the society namely the producti of theatrical performances.
## Funds in deficit
There are no funds in deficit. It is the financialaim of the Board to strive to have in cash reserves the estimated cost of one entire production.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing document
The Charity was established on 2nd February 1995 by the members of Worthing MusicalComedy Society. The Charity is not incorporated but is governed by a written constitution available to all members.
## Recruitment and appointment of new trustees
All members are circulated with an invitation to nominate managementcommittee members/trustees prior to the next
AnnualGeneralMeeting (AGM). They are advised of retiring board members/trustees and requesting new nominations for the AGM. Current Trustees have the right to invite new trustees with their appointment confirmed at the next AGM.
The officers and board members are elected or appointed on an annualbasis.The AGM is held in the month of June each year.
## Organisational structure
The Committee can have up to 12 members and administers the charity/society.The committee meets monthly. A chairman is appointed atthe AGM and oversees day to day operations of the charity. To facilitate effective operations the Chairman can delegate authority for operational matters.
## Induction and training of new trustees
the Society.
## Related parties
The Society owns the entire share capitalof Worthing MusicalProductions Limited.This does nottrade butowns the freehold to the company headquarters/rehearsals facilities.The society is looking to transfer the freehold ownership back to the charity so long as to do so does not create any tax liabilities.
All Trustees are also members of the Society and can use the Society's facilities accordingly.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1043845
Page 1
WORTHING MUSICAL COMEDY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Principal address 2a The Drive Worthing West Sussex BN11 5LL
Trustees Mrs V M Emerson Mr D Fuller Mrs L Fuller Miss A Hart Mrs W K Dunn Mr J W Reynolds Ms N Reynolds Ms N M Stone E Wilcock (appointed 28.6.23) H E Roberts (appointed 28.6.23) L Webb (appointed 28.6.23)
Independent Examiner Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
Bankers Santander Bank
Approved by order of the board of trustees on 27 September 2024 and signed on its behalf by:
H E Roberts - Trustee
Page 2
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORTHING MUSICAL COMEDY SOCIETY
Independent examiner's report to the trustees of Worthing Musical Comedy Society I reportto the charity trustees on my examination of the accounts ofWorthing MusicalComedy Society (the Trust) for the year ended 31 December 2023.
## Responsibilities and basis of report
As the charity trustees ofthe Trustyou are responsible forthe preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
my examination Ihave followed allapplicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no materialmatters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do notcomply with the applicable requirements concerning the form and contentof accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention sho be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Laura Clark FCCA
Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
27 September 2024
Page 3
WORTHING MUSICAL COMEDY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
316
Charitable activities
General
2,960
Other Charitable Activities
917
Spring Show
55,772
Autumn Show
37,340
Youth Company
28,679
Other trading activities
2
13,660
Investment income
3
20
Total
139,664
EXPENDITURE ON
Raising funds
8,511
Charitable activities
Other Charitable Activities
4,111
Spring Show
49,960
Autumn Show
30,698
Governance Costs
2,554
Youth Company
24,874
Other
7,191
Total
127,899
NET INCOME
11,765
RECONCILIATION OF FUNDS
Total funds brought forward
149,521
TOTAL FUNDS CARRIED FORWARD
161,286|2022
Total
funds
£
1,865
-
-
39,869
30,825
18,165
11,185
-
101,909
7,198
1,181
49,041
17,931
1,200
18,192
5,402
100,145
1,764
147,757
149,521|
|---|---|
The notes form part of these financial statements
Page 4
WORTHING MUSICAL COMEDY SOCIETY
## BALANCE SHEET 31 DECEMBER 2023
|2023
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
6
14,778
Social investments
7
3
14,781
CURRENT ASSETS
Stocks
8
300
Debtors
9
78,788
Cash at bank and in hand
72,681
151,769
CREDITORS
Amounts falling due within one year
10
(5,264)
NET CURRENT ASSETS
146,505
TOTAL ASSETS LESS CURRENT LIABILITIES
161,286
NET ASSETS
161,286
FUNDS
11
Unrestricted funds
161,286
TOTAL FUNDS
161,286|2022
Total
funds
£
15,892
3
15,895
300
79,540
58,498
138,338
(4,712)
133,626
149,521
149,521
149,521
149,521|
|---|---|
The financialstatements were approved by the Board of Trustees and authorised for issue on 27 September 2024 and were signed on its behalf by:
H E Roberts - Trustee
The notes form part of these financial statements
Page 5
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## 1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatements ofthe charity,which is a public benefitentity under FRS 102,have been prepared in accordance with the CharitiesSORP (FRS 102) 'Accounting and Reporting byCharities:Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102) (effective 1 January 2019)', FinancialReporting Standard 102 'The FinancialReporting Standard applicable in the UK and Republic of Ireland'and the Charities Act2011.The financialstatements have been prepared underthe historical cost convention.
## Income
All income is recognised in the Statement of FinancialActivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legalor constructive obligation committing the charity to that expenditure,it is probable that a transfer of economic benefits willbe required in settlement and the amountof the obligation can be measured reliably.Expenditure is accounted for on an accruals basis and has been classified underheadings thataggregate allcost related to the category.Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the us of resources.
## Tangible fixed assets
Depreciation is provided atthe following annualrates in order to write offeach assetover its estimated useful life.
Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
No depreciation is provided for on the property held by the Society as the trustees consider the historic cost reflects the value of the property to the Society.
## Stocks
Stocks are valued a **t** he lower ofcost and netrealisable value,after making due allowance for obsolete and slow moving items.
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of th R **e** charstrict ons **i** ty. 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.
## 2. OTHER TRADING ACTIVITIES
|Members Subscriptions
Hall Hire
Patrons Subscriptions
Dinner Dance Tickets
Sundry Income
Social Income|2023
£
4,554
2,941
645
3,158
35
2,327
13,660|2022
£
3,545
2,953
468
2,688
77
1,454
11,185|
|---|---|---|
continued...
Page 6
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
3. INVESTMENT INCOME
|INVESTMENT INCOME||||
|---|---|---|---|
||2023|2022||
||£|£||
|Bank interest received|20||-|
## 4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
No trustee receives expenses otherthan to be reimbursed forany amountagreed to be expanded on the Society's behalf.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
||Unrestricted|
|---|---|
||funds|
||£|
|INCOME AND ENDOWMENTS FROM||
|Donations and legacies|1,865|
|Charitable activities||
|Spring Show|39,869|
|Autumn Show|30,825|
|Youth Company|18,165|
|Other trading activities|11,185|
|Total|101,909|
|EXPENDITURE ON||
|Raising funds|7,198|
|Charitable activities||
|Other Charitable Activities|1,181|
|Spring Show|49,041|
|Autumn Show|17,931|
|Governance Costs|1,200|
|Youth Company|18,192|
|Other|5,402|
|Total|100,145|
|NET INCOME|1,764|
|RECONCILIATION OF FUNDS||
|Total funds brought forward|147,757|
|TOTAL FUNDS CARRIED FORWARD|149,521|
continued...
Page 7
WORTHING MUSICAL COMEDY SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
|6.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2023 and 31 December 2023
11,439
DEPRECIATION
At 1 January 2023
-
Charge for year
-
At 31 December 2023
-
NET BOOK VALUE
At 31 December 2023
11,439
At 31 December 2022
11,439
7.
SOCIAL INVESTMENTS
MARKET VALUE
At 1 January 2023 and 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
8.
STOCKS
Stocks
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Loan to Worthing Musical Prod
Prepayments|Fixtures
and
Computer
fttings
equipment
Totals
£
£
£
23,449
10,086
44,974
19,648
9,434
29,082
951
163
1,114
20,599
9,597
30,196
2,850
489
14,778
3,801
652
15,892
Programme
related
investments
equity
£
3
3
3
2023
2022
£
£
300
300
2023
2022
£
£
1,380
2,035
-
407
75,833
75,653
1,575
1,445
78,788
79,540|
|---|---|
continued...
Page 8
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
|10.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||£|£|
||Trade creditors|||-|2,657|
||Other creditors|||5,264|2,055|
|||||5,264|4,712|
|11.|MOVEMENT IN FUNDS|||||
|||||Net||
||||movement||At|
|||At 1.1.23||in funds|31.12.23|
|||£||£|£|
||Unrestricted funds|||||
||General fund|149,521||11,765|161,286|
||TOTAL FUNDS|149,521||11,765|161,286|
||Net movement in funds, included in the above are as follows:|||||
|||Incoming|Resources||Movement|
|||resources||expended|in funds|
|||£||£|£|
||Unrestricted funds|||||
||General fund|139,664|(127,899)||11,765|
||TOTAL FUNDS|139,664|(127,899)||11,765|
||Comparatives for movement in funds|||||
|||||Net||
||||movement||At|
|||At 1.1.22||in funds|31.12.22|
|||£||£|£|
||Unrestricted funds|||||
||General fund|147,757||1,764|149,521|
||TOTAL FUNDS|147,757||1,764|149,521|
||Comparative net movement in funds, included in the above|are as follows:||||
|||Incoming|Resources||Movement|
|||resources||expended|in funds|
|||£||£|£|
||Unrestricted funds|||||
||General fund|101,909|(100,145)||1,764|
||TOTAL FUNDS|101,909|(100,145)||1,764|
continued...
Page 9
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
## 11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
|Unrestricted funds
General fund
TOTAL FUNDS|At 1.1.22
£
147,757
147,757|Net
movement
in funds
£
13,529
13,529|At
31.12.23
£
161,286
161,286|
|---|---|---|---|
as follows:
|Unrestricted funds
General fund
TOTAL FUNDS|Incoming
resources
£
241,573
241,573|Resources
Movement
expended
in funds
£
£
(228,044)
13,529
(228,044)
13,529|
|---|---|---|
## 12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 10
WORTHING MUSICAL COMEDY SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Members Subscriptions
Hall Hire
Patrons Subscriptions
Dinner Dance Tickets
Sundry Income
Social Income
Investment income
Bank interest received
Charitable activities
Grants
Funds from Youth Company
Ticket Sales Spring Show
Ticket Sales Autumn Show
Show Fees Spring Show
Show Fees Autumn Show
Programme Income Spring Show
Programme Income Autumn Show
T - shirt Income Spring Show
T - shirt Income Autumn Show
Total incoming resources
EXPENDITURE
Raising donations and legacies
Rates and water
Insurance
Light and heat
Cleaning - 2a The Drive
Repairs to 2a The Drive
Subscriptions
Donations Made
Premises Expenses
Charitable activities
Youth Company Expenses
Costumes & Makeup Spring
Costumes & Makeup Autumn
Production Fees Spring
Production Fees Autumn
Orchestra Costs Spring show
Orchestra Costs Autumn Show
Insurance Spring
Carried forward|2023
£
316
4,554
2,941
645
3,158
35
2,327
13,660
20
2,960
28,679
49,091
31,688
4,670
3,933
2,011
1,719
460
457
125,668
139,664
398
1,949
3,648
1,492
572
246
170
36
8,511
24,874
4,913
766
9,481
11,900
3,815
2,275
1,220
59,244|2022
£
1,865
3,545
2,953
468
2,688
77
1,454
11,185
-
-
18,165
36,011
27,499
2,010
1,800
1,848
1,526
-
-
88,859
101,909
769
1,698
1,386
1,373
1,668
210
-
94
7,198
18,192
3,028
354
9,626
2,378
5,349
1,560
1,233
41,720|
|---|---|---|
This page does not form part of the statutory financial statements
Page 11
WORTHING MUSICAL COMEDY SOCIETY
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|Charitable activities
Brought forward
Insurance Autumn
Theatre Costs Spring
Theatre Costs Autumn
Programme Expenses Spring
Programme Expenses Autumn
Staging Costs Spring
Staging Costs Autumn
Royalties Spring
Advertising Spring
Advertising Autumn
T - shirt expenses
Other
Miscellaneous
Post and stationery
Flowers & Gifts
Telephone - general
Computer Costs
Website Costs
Dinner & Dance Expenses
Social Expenses
Support costs
Management
Advertising
Finance
Bank charges
Governance costs
Accountancy and legal fees
Depreciation of tangible fxed assets
Total resources expended
Net income|2023
£
59,244
1,220
14,055
5,174
2,728
514
4,413
9,363
9,335
1,457
1,562
460
109,525
211
271
498
467
276
203
3,516
1,749
7,191
115
3
1,440
1,114
2,554
127,899
11,765|2022
£
41,720
1,233
13,765
9,238
976
1,094
6,077
736
6,906
2,081
1,338
-
85,164
243
111
173
356
161
212
2,694
1,452
5,402
-
3
1,200
1,178
2,378
100,145
1,764|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12
REGISTERED CHARITY NUMBER: 1043845
## REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
WORTHING MUSICAL COMEDY SOCIETY
Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
WORTHING MUSICAL COMEDY SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|||Page|
|---|---|---|
|Report of the Trustees|1|to 2|
|Independent Examiner's Report||3|
|Statement of Financial Activities||4|
|Balance Sheet||5|
|Notes to the Financial Statements|6|to 10|
|Detailed Statement of Financial Activities|11 to 12||
WORTHING MUSICAL COMEDY SOCIETY
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financialstatements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions ofAccounting and Reporting by Charities:Statement ofRecommended Practice applicable to charities preparing their accounts in accordance with the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITIES Objectives and aims
## ACHIEVEMENT AND PERFORMANCE
## Charitable activities
The Company usually produces and performs atleasttwo shows a year atthe localConnaughtTheatre.In addition additional Concert programmes may be produced from time to time.
## Fundraising activities
promoted from time to time.
## Investment performance
The Committee has the power to invest the Society's funds in any way the trustees wish. The trustees have regard for the liquidity requirement of operating the society and the reserves policy. They have operated a policy of keeping fund with recognised High Street Banks.
## FINANCIAL REVIEW
## Reserves policy
The Charity operates on a non-profitmaking basis.Any surplus for a financialperiod is retained to be utilised by the Charity for the benefit of the Society and its members and to fund the main activity of the society namely the producti of theatrical performances.
## Funds in deficit
There are no funds in deficit. It is the financialaim of the Board to strive to have in cash reserves the estimated cost of one entire production.
## STRUCTURE, GOVERNANCE AND MANAGEMENT
## Governing document
The Charity was established on 2nd February 1995 by the members of Worthing MusicalComedy Society. The Charity is not incorporated but is governed by a written constitution available to all members.
## Recruitment and appointment of new trustees
All members are circulated with an invitation to nominate managementcommittee members/trustees prior to the next
AnnualGeneralMeeting (AGM). They are advised of retiring board members/trustees and requesting new nominations for the AGM. Current Trustees have the right to invite new trustees with their appointment confirmed at the next AGM.
The officers and board members are elected or appointed on an annualbasis.The AGM is held in the month of June each year.
## Organisational structure
The Committee can have up to 12 members and administers the charity/society.The committee meets monthly. A chairman is appointed atthe AGM and oversees day to day operations of the charity. To facilitate effective operations the Chairman can delegate authority for operational matters.
## Induction and training of new trustees
the Society.
## Related parties
The Society owns the entire share capitalof Worthing MusicalProductions Limited.This does nottrade butowns the freehold to the company headquarters/rehearsals facilities.The society is looking to transfer the freehold ownership back to the charity so long as to do so does not create any tax liabilities.
All Trustees are also members of the Society and can use the Society's facilities accordingly.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1043845
Page 1
WORTHING MUSICAL COMEDY SOCIETY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Principal address 2a The Drive Worthing West Sussex BN11 5LL
Trustees Mrs V M Emerson Mr D Fuller Mrs L Fuller Miss A Hart Mrs W K Dunn Mr J W Reynolds Ms N Reynolds Ms N M Stone E Wilcock (appointed 28.6.23) H E Roberts (appointed 28.6.23) L Webb (appointed 28.6.23)
Independent Examiner Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
Bankers Santander Bank
Approved by order of the board of trustees on 27 September 2024 and signed on its behalf by:
H E Roberts - Trustee
Page 2
## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORTHING MUSICAL COMEDY SOCIETY
Independent examiner's report to the trustees of Worthing Musical Comedy Society I reportto the charity trustees on my examination of the accounts ofWorthing MusicalComedy Society (the Trust) for the year ended 31 December 2023.
## Responsibilities and basis of report
As the charity trustees ofthe Trustyou are responsible forthe preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
my examination Ihave followed allapplicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no materialmatters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do notcomply with the applicable requirements concerning the form and contentof accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention sho be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Laura Clark FCCA
Galloways Accounting (Hove) Limited The Old Casino 28 Fourth Avenue Hove East Sussex BN3 2PJ
27 September 2024
Page 3
WORTHING MUSICAL COMEDY SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
316
Charitable activities
General
2,960
Other Charitable Activities
917
Spring Show
55,772
Autumn Show
37,340
Youth Company
28,679
Other trading activities
2
13,660
Investment income
3
20
Total
139,664
EXPENDITURE ON
Raising funds
8,511
Charitable activities
Other Charitable Activities
4,111
Spring Show
49,960
Autumn Show
30,698
Governance Costs
2,554
Youth Company
24,874
Other
7,191
Total
127,899
NET INCOME
11,765
RECONCILIATION OF FUNDS
Total funds brought forward
149,521
TOTAL FUNDS CARRIED FORWARD
161,286|2022
Total
funds
£
1,865
-
-
39,869
30,825
18,165
11,185
-
101,909
7,198
1,181
49,041
17,931
1,200
18,192
5,402
100,145
1,764
147,757
149,521|
|---|---|
The notes form part of these financial statements
Page 4
WORTHING MUSICAL COMEDY SOCIETY
## BALANCE SHEET 31 DECEMBER 2023
|2023
Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
6
14,778
Social investments
7
3
14,781
CURRENT ASSETS
Stocks
8
300
Debtors
9
78,788
Cash at bank and in hand
72,681
151,769
CREDITORS
Amounts falling due within one year
10
(5,264)
NET CURRENT ASSETS
146,505
TOTAL ASSETS LESS CURRENT LIABILITIES
161,286
NET ASSETS
161,286
FUNDS
11
Unrestricted funds
161,286
TOTAL FUNDS
161,286|2022
Total
funds
£
15,892
3
15,895
300
79,540
58,498
138,338
(4,712)
133,626
149,521
149,521
149,521
149,521|
|---|---|
The financialstatements were approved by the Board of Trustees and authorised for issue on 27 September 2024 and were signed on its behalf by:
H E Roberts - Trustee
The notes form part of these financial statements
Page 5
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## 1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatements ofthe charity,which is a public benefitentity under FRS 102,have been prepared in accordance with the CharitiesSORP (FRS 102) 'Accounting and Reporting byCharities:Statement of Recommended Practice applicable to charities preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS 102) (effective 1 January 2019)', FinancialReporting Standard 102 'The FinancialReporting Standard applicable in the UK and Republic of Ireland'and the Charities Act2011.The financialstatements have been prepared underthe historical cost convention.
## Income
All income is recognised in the Statement of FinancialActivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legalor constructive obligation committing the charity to that expenditure,it is probable that a transfer of economic benefits willbe required in settlement and the amountof the obligation can be measured reliably.Expenditure is accounted for on an accruals basis and has been classified underheadings thataggregate allcost related to the category.Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the us of resources.
## Tangible fixed assets
Depreciation is provided atthe following annualrates in order to write offeach assetover its estimated useful life.
Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
No depreciation is provided for on the property held by the Society as the trustees consider the historic cost reflects the value of the property to the Society.
## Stocks
Stocks are valued a **t** he lower ofcost and netrealisable value,after making due allowance for obsolete and slow moving items.
## Taxation
The charity is exempt from tax on its charitable activities.
## Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of th R **e** charstrict ons **i** ty. 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.
## 2. OTHER TRADING ACTIVITIES
|Members Subscriptions
Hall Hire
Patrons Subscriptions
Dinner Dance Tickets
Sundry Income
Social Income|2023
£
4,554
2,941
645
3,158
35
2,327
13,660|2022
£
3,545
2,953
468
2,688
77
1,454
11,185|
|---|---|---|
continued...
Page 6
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
3. INVESTMENT INCOME
|INVESTMENT INCOME||||
|---|---|---|---|
||2023|2022||
||£|£||
|Bank interest received|20||-|
## 4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
No trustee receives expenses otherthan to be reimbursed forany amountagreed to be expanded on the Society's behalf.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
||Unrestricted|
|---|---|
||funds|
||£|
|INCOME AND ENDOWMENTS FROM||
|Donations and legacies|1,865|
|Charitable activities||
|Spring Show|39,869|
|Autumn Show|30,825|
|Youth Company|18,165|
|Other trading activities|11,185|
|Total|101,909|
|EXPENDITURE ON||
|Raising funds|7,198|
|Charitable activities||
|Other Charitable Activities|1,181|
|Spring Show|49,041|
|Autumn Show|17,931|
|Governance Costs|1,200|
|Youth Company|18,192|
|Other|5,402|
|Total|100,145|
|NET INCOME|1,764|
|RECONCILIATION OF FUNDS||
|Total funds brought forward|147,757|
|TOTAL FUNDS CARRIED FORWARD|149,521|
continued...
Page 7
WORTHING MUSICAL COMEDY SOCIETY
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
|6.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1 January 2023 and 31 December 2023
11,439
DEPRECIATION
At 1 January 2023
-
Charge for year
-
At 31 December 2023
-
NET BOOK VALUE
At 31 December 2023
11,439
At 31 December 2022
11,439
7.
SOCIAL INVESTMENTS
MARKET VALUE
At 1 January 2023 and 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
8.
STOCKS
Stocks
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Loan to Worthing Musical Prod
Prepayments|Fixtures
and
Computer
fttings
equipment
Totals
£
£
£
23,449
10,086
44,974
19,648
9,434
29,082
951
163
1,114
20,599
9,597
30,196
2,850
489
14,778
3,801
652
15,892
Programme
related
investments
equity
£
3
3
3
2023
2022
£
£
300
300
2023
2022
£
£
1,380
2,035
-
407
75,833
75,653
1,575
1,445
78,788
79,540|
|---|---|
continued...
Page 8
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
|10.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|---|---|---|---|---|---|
|||||2023|2022|
|||||£|£|
||Trade creditors|||-|2,657|
||Other creditors|||5,264|2,055|
|||||5,264|4,712|
|11.|MOVEMENT IN FUNDS|||||
|||||Net||
||||movement||At|
|||At 1.1.23||in funds|31.12.23|
|||£||£|£|
||Unrestricted funds|||||
||General fund|149,521||11,765|161,286|
||TOTAL FUNDS|149,521||11,765|161,286|
||Net movement in funds, included in the above are as follows:|||||
|||Incoming|Resources||Movement|
|||resources||expended|in funds|
|||£||£|£|
||Unrestricted funds|||||
||General fund|139,664|(127,899)||11,765|
||TOTAL FUNDS|139,664|(127,899)||11,765|
||Comparatives for movement in funds|||||
|||||Net||
||||movement||At|
|||At 1.1.22||in funds|31.12.22|
|||£||£|£|
||Unrestricted funds|||||
||General fund|147,757||1,764|149,521|
||TOTAL FUNDS|147,757||1,764|149,521|
||Comparative net movement in funds, included in the above|are as follows:||||
|||Incoming|Resources||Movement|
|||resources||expended|in funds|
|||£||£|£|
||Unrestricted funds|||||
||General fund|101,909|(100,145)||1,764|
||TOTAL FUNDS|101,909|(100,145)||1,764|
continued...
Page 9
WORTHING MUSICAL COMEDY SOCIETY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
## 11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
|Unrestricted funds
General fund
TOTAL FUNDS|At 1.1.22
£
147,757
147,757|Net
movement
in funds
£
13,529
13,529|At
31.12.23
£
161,286
161,286|
|---|---|---|---|
as follows:
|Unrestricted funds
General fund
TOTAL FUNDS|Incoming
resources
£
241,573
241,573|Resources
Movement
expended
in funds
£
£
(228,044)
13,529
(228,044)
13,529|
|---|---|---|
## 12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 10
WORTHING MUSICAL COMEDY SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Members Subscriptions
Hall Hire
Patrons Subscriptions
Dinner Dance Tickets
Sundry Income
Social Income
Investment income
Bank interest received
Charitable activities
Grants
Funds from Youth Company
Ticket Sales Spring Show
Ticket Sales Autumn Show
Show Fees Spring Show
Show Fees Autumn Show
Programme Income Spring Show
Programme Income Autumn Show
T - shirt Income Spring Show
T - shirt Income Autumn Show
Total incoming resources
EXPENDITURE
Raising donations and legacies
Rates and water
Insurance
Light and heat
Cleaning - 2a The Drive
Repairs to 2a The Drive
Subscriptions
Donations Made
Premises Expenses
Charitable activities
Youth Company Expenses
Costumes & Makeup Spring
Costumes & Makeup Autumn
Production Fees Spring
Production Fees Autumn
Orchestra Costs Spring show
Orchestra Costs Autumn Show
Insurance Spring
Carried forward|2023
£
316
4,554
2,941
645
3,158
35
2,327
13,660
20
2,960
28,679
49,091
31,688
4,670
3,933
2,011
1,719
460
457
125,668
139,664
398
1,949
3,648
1,492
572
246
170
36
8,511
24,874
4,913
766
9,481
11,900
3,815
2,275
1,220
59,244|2022
£
1,865
3,545
2,953
468
2,688
77
1,454
11,185
-
-
18,165
36,011
27,499
2,010
1,800
1,848
1,526
-
-
88,859
101,909
769
1,698
1,386
1,373
1,668
210
-
94
7,198
18,192
3,028
354
9,626
2,378
5,349
1,560
1,233
41,720|
|---|---|---|
This page does not form part of the statutory financial statements
Page 11
WORTHING MUSICAL COMEDY SOCIETY
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
|Charitable activities
Brought forward
Insurance Autumn
Theatre Costs Spring
Theatre Costs Autumn
Programme Expenses Spring
Programme Expenses Autumn
Staging Costs Spring
Staging Costs Autumn
Royalties Spring
Advertising Spring
Advertising Autumn
T - shirt expenses
Other
Miscellaneous
Post and stationery
Flowers & Gifts
Telephone - general
Computer Costs
Website Costs
Dinner & Dance Expenses
Social Expenses
Support costs
Management
Advertising
Finance
Bank charges
Governance costs
Accountancy and legal fees
Depreciation of tangible fxed assets
Total resources expended
Net income|2023
£
59,244
1,220
14,055
5,174
2,728
514
4,413
9,363
9,335
1,457
1,562
460
109,525
211
271
498
467
276
203
3,516
1,749
7,191
115
3
1,440
1,114
2,554
127,899
11,765|2022
£
41,720
1,233
13,765
9,238
976
1,094
6,077
736
6,906
2,081
1,338
-
85,164
243
111
173
356
161
212
2,694
1,452
5,402
-
3
1,200
1,178
2,378
100,145
1,764|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12