KING'S LYNN OPERATIC AND DRAMATIC SOCIETY
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
Charity Number 1057866
STEPHENSON SMART (EAST ANGLIA) LIMITED Chartered Accountants 22-26 King Street King's Lynn Norfolk PE30 1HJ
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ Annual Report | 2 to 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to financial statements | 6 to 10 |
| Independent Examiner's report to the Trustees | 11 |
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 30 APRIL 2024
Registered Charity No: 1057866 Address: 6 - 8 St Georges Courtyard King Street King's Lynn Norfolk PE30 1ET Telephone: 07786 548481 Trustees: David Nash Margaret Fox James Morgan Officers: Margaret Fox (Vice President) David Nash (Chair) Hayley Dennis (Vice Chair) Paul Howe (Honorary Members/Patrons Secretary) Jennifer Coleman (Honorary Treasurer) Abbey Johnson (Honorary Secretary) Alex Kendal (Business Manager) Grace Burton Rowan Fox-Noble Bankers: Barclays Bank Plc King's Lynn Leicestershire LE87 2BB Scottish Widows Bank 67 Morrison Street Edinburgh EH3 8YJ Independent examiner Mr Dan Jastrzebski ACA CTA Stephenson Smart (East Anglia) Limited 22-26 King Street King's Lynn Norfolk PE30 1HJ
Page: 1
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
TRUSTEES' ANNUAL REPORT YEAR ENDED 30 APRIL 2024
The Trustees present their Report and the Financial Statements of the Charity for the year ended 30th April 2024.
PRINCIPAL OBJECTIVES
The principal objectives of Kings Lynn Operatic and Dramatic Society are to educate the public in the dramatic and operatic arts, and to further the development of public appreciation and taste in the said arts. These objectives were agreed in the first Annual general Meeting and agreed with the Charity Commissioners.
We aim to achieve these objectives by organising operatic and dramatic performances.
The Charity is an unincorporated Association governed by a Trust Deed dated 22nd May 1972.
REVIEW OF EVENTS AND RESULTS
The performances that took place during the current year were One Man, Two Guvnors and Little Mermaid
Amateur actors and dancers all contribute to the performances and they do not receive any remuneration.
The Society has lost a financial deficit in the year. The deficit has decreased from a £5,333 surplus in the year ended 30th April 2033 to £1,187 deficit in the current year.
The trustees have complied with their duty within the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
RESERVES AND RISKS
King's Lynn Operatic and Dramatic Society defines its Reserves as the value of those assets over and above those which are required for it to meet its current commitments and planned expenditure. The current level of Reserves is £52,558 and is considered to be adequate.
These reserves are held for the purpose of future events and performance expenditure.
The trustees consider the most significant risk to the charity is the legal liability to the actors and public. Although this risk only extends to the charity's own premises. The charity mitigates the risk by way of an insurance policy that covers all discernible risks.
Page: 2
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
TRUSTEES' ANNUAL REPORT
YEAR ENDED 30 APRIL 2024 (continued)
TRUSTEES AND ORGANISATIONAL MATTERS
The Trustees who served during the year were : - David Nash Margaret Fox James Morgan
The charity is managed by the Committee which is re-elected every 2 years on a rolling basis, with 50% being eligibile for re-election each year.
RESPONSIBITIES OF THE TRUSTEES
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for the period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and accounting 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 Charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Jennifer Coleman - Honorary Treasurer
Date: 26th February 2025
Page: 3
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 30 APRIL 2024
| Notes Incoming Resources Incoming resources from generated funds: Voluntary income 2a Activities for generating funds 2b Investment income 2c Incoming Resources from charitable activities: Activities in furtherance of charity’s objectives 2d Total Incoming Resources Resources Expended Costs of generating funds: 3 Charitable activities 4 Governance costs 5 Total Resources Expended Net Incoming Resources/(Resources Expended) before transfers Transfers between funds Net income resources/(resources expended) for the year (income / (expenditure)) Total funds at 1 May 2023 Designated funds Total funds at 30 April 2024 Fundraising trading: cost of goods sold and other costs |
Social One Man, General Headquarters Committee Two Guvnors Little Mermaid Revenue Total Total Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Funds Funds Fund 2024 Fund 2024 Fund 2024 Fund 2024 Fund 2024 2024 2023 £ £ £ £ £ £ £ - - - - 4,867 4,867 1,075 - - 440 1,160 - 1,600 2,758 - - - - 44 44 12 - - 5,672 14,764 - 20,436 21,535 - - 6,112 15,924 4,911 26,947 25,379 Social General Headquarters Committee Two Guvnors Little Mermaid Revenue Total Total Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Funds Funds Fund 2024 Fund 2024 Fund 2024 Fund 2024 Fund 2024 2024 2023 £ £ £ £ £ £ £ - - - - 4,166 4,166 2,900 - - 6,424 17,544 - 23,968 17,147 - - - - - - - - - 6,424 17,544 4,166 28,134 20,047 - - (312) (1,620) 745 (1,187) 5,333 - - - - - - - - - (312) (1,620) 745 (1,187) 5,333 53,745 48,412 - - 52,558 53,745 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All of the above amounts relate to continuing activities. None of the above funds are designated or restricted.
The notes on pages 6 to 10 form part of these financial statements
Page: 4
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
BALANCE SHEET
YEAR ENDED 30 APRIL 2024
| Notes Fixed Assets Tangible fixed assets 9 Current Assets Debtors 10 Bank current account Petty cash Creditors Amounts falling due within one year 11 Net Current Assets Net Assets Funds Unrestricted accumulated surplus brought forward (Deficit) / Surplus for year Unrestricted Funds Restricted Funds Designated Funds Total Funds 12 |
£ £ 15,030 1,189 44,756 73 46,018 8,490 8,490 37,528 52,558 53,745 (1,187) 52,558 - - 52,558 2024 |
£ £ 15,030 13,856 29,112 - 42,968 4,253 4,253 38,715 53,745 48,412 5,333 53,745 - - 53,745 2023 |
|---|---|---|
These financial statements were approved by the Trustees on and signed on their behalf by:
Jennifer Coleman Honorary Treasurer
Date: 20th February 2025
The notes on pages 6 to 10 form part of these financial statements
Page: 5
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2024
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
1. Accounting Policies
Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, 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) issued on 16 July 2014, and the Charities Act 2011.
Incoming resources
Incoming resources are apportioned to the category most appropriate for their class. Incoming resources from ticket sales are included when performance takes place. Donations and subscriptions are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
No income is shown net of expenditure.
Resources expended
All expenditure is included on an accruals basis and is recognised when there is legal or constructive obligation to pay for expenditure. The Trust is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.
Expenses are apportioned where necessary. Charitable activities costs are those costs incurred directly in respect of expenditure on the objects of the Charity. These are allocated directly to each project on an actual cost basis. Governance costs are those incurred in connection with administration of the Charity.
Tangible fixed assets and depreciation
Individual assets costing £100 or more are capitalised at cost.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:-
Freehold Property
Nil
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page: 6
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024 (continued)
| Social | One Man, | General | |||||
|---|---|---|---|---|---|---|---|
| Headquarters | Committee | Two Guvnors | Little Mermaid | Revenue | Total | Total | |
| Unrestricted | Unrestricted | Unrestricted | Unrestricted | Unrestricted | Funds | Funds | |
| Fund 2024 | Fund 2024 | Fund 2024 | Fund 2024 | Fund 2024 | 2024 | 2023 | |
| 2. Incoming resources a) Donations, legacies and similar Donations Subscriptions Grant |
£ - - - |
£ - - - |
£ - - - |
£ - - - |
£ 3,467 1,400 - |
£ 3,467 1,400 - |
£ - 1,075 - |
| - | - | - | - | 4,867 | 4,867 | 1,075 | |
| b) Activities for generating funds Programme advertisements Refreshments Room hire received Other receipts |
£ - - - - |
£ - - - - |
£ 440 - - - |
£ 360 - - 800 |
£ - - - - |
£ 800 - - 800 |
£ 940 60 1,123 635 |
| - | - | 440 | 1,160 | - | 1,600 | 2,758 | |
| c) Investment income Interest |
£ - |
£ - |
£ - |
£ - |
£ 44 |
£ 44 |
£ 12 |
| - | - | - | - | 44 | 44 | 12 | |
| d) Activities in furtherance of of charity's objectives Ticket sales Programme sales |
£ - - |
£ - - |
£ 5,512 160 |
£ 14,344 420 |
£ - - |
£ 19,856 580 |
£ 20,855 680 |
| - | - | 5,672 | 14,764 | - | 20,436 | 21,535 | |
| - | - | 6,112 | 15,924 | 4,911 | 26,947 | 25,379 |
Page: 7
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024 (continued)
| 3. Cost of generating funds Insurance Gas Electricity Water and sewage Maintenance and replacement Subscriptions |
Social One Man, General Headquarters Committee Two Guvnors Little Mermaid Revenue Total Total Unrestricted Unrestricted Unrestricted Unrestricted Unrestricted Funds Funds Fund 2024 Fund 2024 Fund 2024 Fund 2024 Fund 2024 2024 2023 £ £ £ £ £ £ £ - - - - 951 951 1,074 - - - - 2,150 2,150 1,000 - - - - 522 522 395 - - - - 96 96 166 - - - - 447 447 50 - - - - - - 215 - - - - 4,166 4,166 2,900 |
|---|---|
4. Cost of activities in furtherance
of charitable objectives
| Direct costs allocated to activities Venue hire Royalties and licences Costumes Props Production costs |
£ £ £ £ £ £ £ - - 3,009 4,762 - 7,771 6,407 - - 1,179 4,500 - 5,679 4,278 - - 335 1,757 - 2,092 1,160 - - 36 246 - 282 80 - - 1,334 5,081 - 6,415 3,857 |
|---|---|
| - - 5,892 16,346 - 22,238 15,783 |
|
| Support costs allocated to activities Publicity Programme printing |
- - 421 875 - 1,296 752 - - 112 323 - 435 612 |
| - - 532 1,198 - 1,730 1,364 |
|
| Total costs of furtherance of charitable activities |
- - 6,424 17,544 - 23,968 17,147 |
Page: 8
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024 (continued)
| Social One Man, Headquarters Committee Two Guvnors Little Mermaid Unrestricted Unrestricted Unrestricted Unrestricted Fund 2024 Fund 2024 Fund 2024 Fund 2024 5. Governance costs £ £ £ £ Auditors fees - - - - Legal fees - - - - - - - - 6. Net incoming/(outgoing) resources for the year 2024 This is stated after charging: £ Depreciation - Auditors’ fees for audit services - - 7. Staff Costs and Numbers Salaries - Social Security - Pension costs - - Trustees are not remunerated. No expenses are reimbursed to Trustees. All performers are volunteers and therefore do not receive remuneration. |
General Revenue Total Total Unrestricted Funds Funds Fund 2024 2024 2023 £ £ £ - - - - - - - - - 2023 £ - - - - - - - |
|---|---|
8. Pension costs
The charity has no employees and therefore no pension scheme.
9. Tangible fixed assets
| Cost: At 1 May 2023 Additions Disposals At 30 April 2024 Depreciation: At 1 May 2023 Provision for the year On disposals At 30 April 2024 Net book value at 30 April 2023 Net book value at 30 April 2024 |
Freehold Property £ 15,030 - - 15,030 - - - - 15,030 15,030 |
Total £ 15,030 - - 15,030 - - - - 15,030 15,030 |
|---|---|---|
Page: 9
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024 (continued)
| 10. Debtors Debtors Prepayments |
2024 £ 420 769 1,189 |
2023 £ 12,122 1,734 13,856 |
|---|---|---|
11. Creditors - amounts falling due within one year
| Creditors Taxes and social security costs Accruals and deferred income |
2024 £ 8,490 - - 8,490 |
2023 £ 4,253 - - 4,253 |
|---|---|---|
12. Analysis of Net Assets between Funds
| Tangible fixed assets Current assets Current liabilities |
Restricted Designated General Funds Funds Funds Total £ £ £ £ - - 15,030 15,030 - - 46,018 46,018 - - (8,490) (8,490) - - 52,558 52,558 |
|---|---|
| Restricted Fund Designated Fund General Fund |
Balance Income Outgoing Balance at 1.5.2023 Resources Resources Transfers at 30.4.2024 £ £ £ £ £ - - - - - - - - - - 53,745 26,947 28,134 - 52,558 53,745 26,947 28,134 - 52,558 |
|---|---|
13. Ultimate Controlling Party
The committee are responsible for the running of the charity and consider themselves to be the controlling party.
Page: 10
KINGS LYNN OPERATIC AND DRAMATIC SOCIETY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES/MEMBERS OF KINGS LYNN OPERATIC AND DRAMATIC SOCIETY ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 CHARITY NO: 1057866 SET OUT ON PAGES 4 to 10
I report to the trustees on my examination of the financial statement of the above charity ("the Trust") for the year ended 30 April 2023.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of financial statements in accordance with the requirements of the Charities Act 2011 ("the Act").
I report in respect of my examination of the Trust's Financial statements 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 Examiners' Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the financial statements did not accord with the accounting records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial
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statements set out in 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 financial statements to be reached.
Mr Dan Jastrzebski ACA CTA Stephenson Smart (East Anglia) Limited Chartered Accountants and Registered Auditors 22 – 26 King Street King’s Lynn Norfolk PE30 1HJ
Date: 26th February 2025
Page: 11
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Signed by Jennifer Coleman using authentication code U2xZwqNXMXRVckQueA== at IP address 212.139.187.78, on 2025/02/26 12:56:55 Z.
Jennifer Coleman's e-mail address is: jennifer-coleman@hotmail.co.uk.