## **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: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the financial statements did not accord with the accounting records; or - the financial statements do not comply with the applicable requirements concerning the form and content of financial - 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 ## **Virtual Cabinet Portal Digital Signatures** ## **Digital Signature Verification** You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page: https://www.virtualcabinetportal.com/VerifySignedDocument ## **Signature Dates and Times** All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page: http://www.virtualcabinetportal.com/WhatIsUTC ## **Signature 1** 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.