CHARITY REGISTRATION NUMBER : 1052798
COMPANY REGISTRATION NUMBER: 03103691
WEST WICKHAM OPERATIC SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
WEST WICKHAM OPERATIC SOCIETY
ANNUAL REPORT AND FINANCIAL STATEMENTS
CONTENTS
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Trustees’ annual report | 2 - 4 |
| Independent Examiner’s report to the trustees | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8- 12 |
WEST WICKHAM OPERATIC SOCIETY
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2022
REGISTERED West Wickham Operatic Society CHARITY NAME
CHARITY 1052798 REGISTRATION NUMBER
COMPANY 3103691 REGISTRATION NUMBER
REGISTERED OFFICE 25 Repton Road, AND OPERATIONAL Orpington, ADDRESS Kent, BR6 9HR
TRUSTEES
The trustees who served during the year and since the year end were as follows:
Mr Terence J Gauntlett Chairman Mrs Elizabeth Hodgson Treasurer Mrs Josie Simpson Business Manager Mrs Vickie E Faint Marketing Manager Mr Jeremy Gauntlett Mr Kevin R Gauntlett Mrs Tracy Leach Mr Jonathan Faint Mrs Michelle Benn Miss Ellen L Gauntlett Miss Danielle K Simpson
BANKERS
Santander (UK) plc
INDEPENDENT EXAMINER
Neil Adshead FCA Creative Tax Reliefs Ltd Room F14A, First Floor, Bolton Arena, Arena Approach, Horwich,Bolton, BL6 6LB
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WEST WICKHAM OPERATIC SOCIETY
Trustees’ Annual Report For the year ended 31 December2022
The Directors submit their Report and the Financial Statements of the Company for the year ended 31[st] December 2022.
West Wickham Operatic Society is a company limited by guarantee (Company No: 03103691) and a Registered Charity No: 1052798.
The Company was formed on 19[th] September 1995 and following the special general meeting of the West Wickham Operatic Society on 8[th] November 1995 subsumed the activities of the previously unincorporated society which was formed in 1935.
The Company is governed by its Memorandum & Articles of Association dated 11[th] September 1997 and the principal activity is to educate the public in the dramatic and operatic arts.
In order to achieve these objects the Directors of the Company ensure that the Company undertakes a number of operatic and related productions each year.
West Wickham Operatic Society is run by a Council of Management, all members of which act as trustees of the charity. The Council of Management take an active role in managing the Company, however decisions relating to individual productions are delegated to the production teams appointed to stage each individual production.
DIRECTORS – During the period, the members of the Council of Management who are Directors, were as follows:
Mr Terence J Gauntlett Chairman (appointed 5[th] June 2019) Mrs Vickie E Faint Secretary (appointed 13[th] July 2022) Mrs Elizabeth Hodgson Treasurer (appointed 13[th] July 2022) Mrs Josie Simpson Business Manager (appointed 13[th] July 2022) Mr Kevin R Gauntlett Marketing Manager (appointed 2[nd] September 2020) Mr Jeremy Gauntlett (appointed 16th June 2021) Mrs Tracy Leach (appointed 2[nd] September 2020) Mr Jonathan Faint (appointed 16[th] June 2021) Mrs Michelle Benn (appointed 2[nd] September 2020) Miss Ellen L Gauntlett (appointed 16th June 2021) Miss Danielle K Simpson (appointed 16th June 2021)
One third of the officers shall retire by rotation each year. Members of the Company are entitled to vote on the reappointment of the Council at the Annual General Meeting and are also entitled to propose Officers for appointment to the Council.
REVIEW OF ACTIVITIES – During the period the Company undertook two productions at the Churchill Theatre, Bromley. The Company is dependent upon considerable input from volunteers. The Company is essentially amateur, however it does make use of professional and semi-professional performers, directors, musical directors, choreographers and stage crews when the need arises.
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WEST WICKHAM OPERATIC SOCIETY
Trustees’ Annual Report
For the year ended 31 December 2022
FINANCIAL RESULTS & TRANSFERS TO RESERVES – After charging all expenses, the Income and Expenditure Account showed a loss of £31,038. The balance carried forward in the Income and Expenditure account was £102,888 this includes receipt of Theatre Tax Credit (less fees) of £6,963.
Two productions were mounted during the year and the details of the surplus or deficit of this production are as follows:
Made In Dagenham - £22,485 Calendar Girls - £16,195
Despite these heavy losses the balance sheet continues to remain strong. Though, given the uncertainty of the financial performance that surrounds each individual production the directors consider it important to maintain the society’s solvency in order to continue its policy of staging operatic works, currently two productions are planned for 2023.
The Society has no investments other than funds held on deposit with the Society’s bankers.
The directors believe that the assets are adequate to meet the Society’s obligations.
DIVIDENDS – The Directors do not propose a dividend.
STATEMENT OF DIRECTORS’ RESPONSIBILITIES – Company and charity law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and of the surplus or deficit of the Company for that period. In preparing these financial statements, the Directors are required to:
Select suitable accounting policies and then apply them consistently
-
Make judgements and estimates that are reasonable and prudent
State whether applicable 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 Company will continue in business.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time that the financial statements comply with the Companies Act 1985 and the Charities Act 1993. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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WEST WICKHAM OPERATIC SOCIETY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES WEST WICKHAM OPERATIC SOCIETY
| On accounts for the year | 31 December 2022 Charity no 1052798 |
|---|---|
| ended | |
| Set out on pages | 6 to 12 |
| I report to the trustees on my examination of the accounts of the above Company | |
| for the year ended 31 December2022. | |
| As the charity's trustees of the Company (and also its directors), you are | |
| responsible for the preparation of the accounts in accordance with the | |
| requirements of the Companies Act 2006 (“the Act”). | |
| Responsibilities and basis of | Having satisfied myself that the accounts of the company are not required to be |
| report | audited under part 16 of the 2006 Act and are eligible for independent |
| examination, I report in respect of my examination of the charity’s accounts | |
| carried out under section 145 of the 2011 Act and in carrying out my examination, | |
| I have followed all the applicable Directions given by the Charity Commission | |
| under section 145(5)(b) of the Act. | |
| Independent examiner's | I have completed my examination. I confirm that no material matters have come |
| statement | to my attention in connection with the examination which gives me cause to |
| believe that in, any material respect: |
-
the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of 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 should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Date: 6 June 2023 Name: Neil Adshead
Relevant professional qualification(s) or body: FCA. Institute of Chartered Accountants in England and Wales Address: Creative Tax Reliefs Ltd
Creative Tax Reliefs Ltd Room F14A, First Floor, Bolton Arena, Arena Approach, Horwich, Bolton, BL6 6LB
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WEST WICKHAM OPERATIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022
| Unrestricted | ||
|---|---|---|
| and Total funds | Total funds | |
| Notes | 2022 | 2021 |
| £ | £ | |
| INCOME FROM: | ||
| Donations and legacies 2 |
332 | 450 |
| Charitable activities 3 |
71,873 | 59,273 |
| Other 4 |
7,079 | 1,572 |
| Total | 79,284 | 61,295 |
| EXPENDITURE ON: | ||
| Charitable activities 5 |
107,423 | 65,864 |
| Other 6 |
2,899 | 5,950 |
| Total | 110,322 | 71,814 |
| NET INCOME | (31,038) | (10,519) |
| Transfer between funds | ||
| TOTAL FUNDS BROUGHT FORWARD | 133,926 | 144,445 |
| TOTAL FUNDS CARRIED FORWARD | 102,888 | 133,926 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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WEST WICKHAM OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting Policies
General information
West Wickham Operatic Society Limited is a charitable company registered with the Charity Commission in England & Wales. The office address is 25 Repton Road, Orpington, Kent, BR6 9HR
1.1 Accounting convention
These financial statements have been prepared in accordance with the charity’s constitution, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
1.4 Fund accounting
Unrestricted funds are funds that can be used in accordance with the objectives of the charity at the discretion of the trustees.
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WEST WICKHAM OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1.5 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
For donations to be recognised the charity will have been notified of the amounts. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from government and other grants, whether ‘capital grants or revenue grants’, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. Where a grant is received for a specific purpose, it is included in restricted income and any unexpended portion carried forward as a restricted fund.
1.6 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. All expenditure was incurred in carrying out the charitable activity of the charity, including the costs of operating.
The charity is not registered for VAT and therefore all expenditure is recorded inclusive of VAT. There were no employees during the year (2021 Nil)
1.7 Taxation
The charity is exempt from corporation tax on its charitable activities. The charity is not registered for VAT.
1.8 Basic financial instruments
The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102 SORP.
2. Donations and legacies
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Gift aid | 332 | 450 |
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WEST WICKHAM OPERATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
3. INCOME FROM CHARITABLE ACTIVITIES
| Operatic production income Membership subscriptions Other |
2022 £ 68,743 3,130 - |
2021 £ 57,844 1,105 324 59,273 |
||
|---|---|---|---|---|
| 4. OTHER INCOME Creative industries tax relief Interest income |
2022 £ 6,963 116 71,873 |
|||
| 2021 | ||||
| £ | ||||
| 1,559 | ||||
| 13 | ||||
| 7,079 | 1,572 |
5. CHARITABLE ACTIVITIES COSTS
| 2022 £ |
2021 £ |
|
|---|---|---|
| Operatic productions | 107,423 | 65,864 |
6. SUPPORT AND GOVERNANCE COSTS
| Support costs £ 220 1,020 759 |
Governance costs £ - 900 - |
Total 2022 £ 220 1,920 759 |
Support costs £ 92 228 4,730 |
Governance costs £ |
Total | |
|---|---|---|---|---|---|---|
| 2021 | ||||||
| £ | ||||||
| Subscriptions | - | 92 | ||||
| Accountancy fees | 900 | 1,128 | ||||
| Sundry expenses | - | 4,730 | ||||
| 1,999 | 900 | 2,899 | 5,050 | 900 | 5,950 |
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WEST WICKHAM OPERATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
7. DEBTORS
| Prepayments | 2022 £ 4,655 |
2021 |
|---|---|---|
| £ | ||
| 19,296 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accruals | 2022 £ 5,718 |
2021 |
|---|---|---|
| £ | ||
| 900 |
9. MOVEMENT IN FUNDS
These are the unrestricted funds which are material to the charity’s activities, and are made up as follows:
| At | Incoming | Resources | At | |
|---|---|---|---|---|
| 01/01/2022 |
resources | expended | 31/12/2022 | |
| £ | £ | £ | £ | |
| 133,926 | ||||
| Unrestricted funds | ||||
| General fund | 79,284 | (110,322) | 102,888 | |
| Balance at 01/01/2021 £ 144,445 |
||||
| For the year ended 31 December 2021 | Incoming | Resources | Balance at | |
| resources | expended | 31/12/2021 | ||
| £ | £ | £ | ||
| 61,295 | (71,814) | 133,926 |
Unrestricted funds comprise income granted or donated to or earned by the charity to be used at the discretion of the trustees to fund any activity in furtherance of the charity’s objectives.
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WEST WICKHAM OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
10. RELATED PARTY DISCLOSURES
No trustee received remuneration for their services as a trustee during the year (2021 NIL).
Seven trustees were reimbursed for production and miscellaneous expenses totalling £2,280 (2021 £415)
There were no related party transactions for the year ended 31 December 2022.
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