**THE GILBERT and SULLIVAN SOCIETY** Charity number 1062970 **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024** a
**THE GILBERT and SULLIVAN SOCIETY**
## **CONTENTS FOR THE YEAR ENDED 31 MARCH 2024**
||Page|
|---|---|
|Statement of Trustees Responsibilities|1 - 2|
|Independent Examiner's Report|3|
|Income & expenditure account|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 8|
## **THE GILBERT and SULLIVAN SOCIETY**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024**
The Gilbert and Sullivan Society, which is governed by the rules adopted at the Annual General Meeting on 8th July 1925, incorporating revision subsequently approved up to and including 4th November 2019 was registered as a charity on 20 June 1997.
The trustees of the charity during the year ended 31 March 2024, all of whom are members of the executive committee were:
John Penn John Tritton Robert Gray Angela Penn Alan Parfitt Christine Parfitt Stuart Box Katie Barnes Vic Golding Celia Lyons Peter Mountsteven Zena Wigram
## **PRINCIPLE OBJECT**
The principal object of the society is to advance public education by the promotion of Gilbert and Sullivan's works. In particular, but not exclusively by the provision of lectures, concerts, the maintenance of a Gilbert and Sullivan library and museum, and the production of a regular Gilbert and Sullivan publication for members and the public.
## **REVIEW OF THE YEAR**
The activities of the Society are reviewed by the appropriate members of the executive committee in a separate report attached here to.
## **FINANCIAL REVIEW**
The financial statements are presented in a format consistent with the statement of recommended practice (SORP) for charities.
## **ADMINISTRATIVE INFORMATION**
(a) Bankers: Barclay's Bank Plc, 355 Station Road, Harrow, Middlesex, HA1 2AN
- (b) Investment Advisers: Cave & Sons, Lockgates House, Rushmills, Northampton, NN4 7YP (c) Independent Examiner: Community360, Winsleys House, High Street, Colchester, CO1 1UP
**1**
## **THE GILBERT and SULLIVAN SOCIETY**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024**
The elected committee members in their capacity as trustees of the charity are required by the law applicable to charities in England and Wales to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the financial year and of the surplus or deficit for the financial year
In preparing these financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistently;
Make judgments and estimates that are reasonable and prudent; state whether applicable accounting standard and statements of recommended practice have been followed subject to any 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 proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act and the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities
On behalf of the Committee and Trustees
J Penn
J Tritton
**2**
## **THE GILBERT and SULLIVAN SOCIETY**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024**
I report on the accounts of The Gilbert and Sullivan Society for the year ended 31st March 2024 which are set out on pages 4 to 8.
## **Respective responsibilities of trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. The charities gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Accounting Technicians.
It is my responsibility to:
- Examine the accounts under section 145 of the Charities Act,
- To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and
- To state whether particular matters have come to my attention.
## **Basis of independent examiner’s Statement**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes considerations of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no material matters have come to my attention 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 accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of the 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 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.
Shelley-Marie Rudling FMAAT AATQB for and on behalf of:
Community360 Winsley’s House, High Street, Colchester, Essex Date
30/01/2025
**3**
## **THE GILBERT and SULLIVAN SOCIETY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Note**
**Income**
Donations
**2**
Charitable activities
**3**
Investment activity
**4**
Other income
**Total income**
**Expenditure**
Charitable activities
**5**
**Total expenditure**
**Net income before investments**
Profit(loss) on investments
**Net income**
**Total funds brought forward**
**Total funds carried forward**|**2024**
**Unrestricted**
**Funds**
**£**
262,302
26,974
6,016
283|**2024**
**2023**
**Total**
**Total**
**Funds**
**Funds**
**£**
**£**
262,302
1,054
26,974
7,268
6,016
2,504
283
-
**295,575**
**10,826**
24,638
16,768
**24,638**
**16,768**
**270,937**
**(5,942)**
12,558
(2,999)
**283,495**
**(8,941)**
180,012
188,954
**463,507**
**180,012**|
|---|---|---|
||**295,575**
24,638||
||**24,638**||
||**270,937**
12,558||
||**283,495**
180,012||
||**463,507**||
The notes on pages 6 - 8 form an integral part of these financial statements.
**4**
## **THE GILBERT and SULLIVAN SOCIETY**
## **BALANCE SHEET AS AT 31 MARCH 2024**
|||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|---|
||**Note**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|**6**||918||918|
|Investments|||357,098||83,715|
|**Total fixed assets**|||358,016||84,633|
|**Current assets**||||||
|Debtors|**7**|845||1,031||
|Cash at bank and in hand||104,925||95,010||
|||105,770||96,041||
|**Current liabilities**||||||
|Creditors|**8**|280||663||
|**Total current liabilities**||280||663||
|**Net current assets**|||105,490||95,379|
|**Net assets**|||**463,507**||**180,012**|
|**Funds**||||||
|Unrestricted funds|||463,507||180,012|
||||**463,507**||**180,012**|
||“hitter||Sof/rs|||
|Signed
Signed
~~gf~~
few||Date
Date|30th January 2025
~~OS~~|||
**5**
## **THE GILBERT and SULLIVAN SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. Accounting policies**
## **1.1 Basis of accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Cash flow**
The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements".
## **Incoming resources**
All material incoming resources have been included on a receivable basis They are included if the date receivable falls within the period covered by these accounts.
## **Resources expended**
These have been analysed using a natural classification.
## **Depreciation**
Depreciation is calculated to write down the cost or valuation, less estimated residual value.
The rates applicable are:
Library Books
These are not depreciated
## **Going concern**
The trustees of the charity deem that there are sufficient funds available to continue operating on a going concern basis for the forseeable future
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **2. Donations**
|**2.**
**Donations**
General donations
Door takings
**3.**
**Charitable activities**
Subscriptions
G & S news
Other events
G & S Day
Convention
Advertising
Sales income|**2024**
**£**
261,706
596
**262,302**
**2024**
**£**
5,628
560
1,410
110
18,545
190
531
**26,974**|**2023**
**£**
724
330|
|---|---|---|
|||**1,054**|
|||**2023**
**£**
5,358
706
-
110
-
367
727|
|||**7,268**|
**6**
## **THE GILBERT and SULLIVAN SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
|**4.**
**Investment activities**
Dividends and interest
**5. Charitable activities**
G and S news costs
Room hire
Artists
Insurance
Sponsorship
Advertising
Convention
Committee
Website
Professional fees
Investment fees
Sundry expenses|**2024**
**£**
6,016
**6,016**
**2024**
**£**
7,115
750
3,980
186
7,384
550
1,368
1,336
1,193
275
-
501
**24,638**|**2023**
**£**
2,504|
|---|---|---|
|||**2,504**|
|||**2023**
**£**
5,951
3,210
3,080
183
1,500
-
-
861
1,149
211
240
383|
|||**16,768**|
No staff were employed by The Gilbert and Sullivan Society during the year ended 31st March 2024 (2023: none).
|**6.**
**Fixed assets**
**Cost**
At 1 April 2023
Additions
At 31 March 2024
**Deprecation**
At 1 April 2023
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Library**
**Books**
**£**
918
-
**918**
-
**-**
**918**
918|**Total**
**£**
918
-|
|---|---|---|
|||**918**|
|||-|
|||**-**|
||||
|||**918**|
||||
|||918|
**7**
## **THE GILBERT and SULLIVAN SOCIETY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024**
|**7.**
**Debtors**
Debtors
Prepayment
**8.**
**Creditors**
Other creditors
Accruals
**9.**
**Investments**
UK investments are held as follows -
Market Value as at 31 March 2023
Additions
Disposals
Unrealised surplus (deficit) on revaluation
Increase(decrease) in cash held
**Market value as at 31 March 2024**|**2024**
**£**
845
-
**845**
**2024**
**£**
5
275
**280**
**2024**
**£**
83,715
260,826
-
10,110
2,448
**357,099**|**2023**
**£**
845
186|
|---|---|---|
|||**1,031**|
|||**2023**
**£**
452
211|
|||**663**|
|||**2023**
**£**
84,450
-
-
(2,999)
2,264|
|||**83,715**|
## **10. Related parties**
There are no related parties
## **11. Trustee remuneration**
No remuneration was paid to any Trustee or to any person or persons known to be connected with any of them.
**8**