REGISTERED CHARITY NUMBER: 1089254 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Au st 2024 for Bndgw.atererat1C Society Mlxwells C,bartered Accountants 4 Killg Square Bridgwater Somerset TA6 3YF
Brid ater O eratic Socie Contents of the Financial Statemer]ts for the Year F.nded 31 Au&yusr 2024 Page Report of the Truslees Independ¢nt F.xaminer's Report Statement of Trinancial Aclivities Balance Sheet Notes to the Financial Slatements 7 to 11 Detailed Stalement of Financial Activities 12 to 13
Brid e rt of the Trustees for the Year Ended 31 Au t 2024 The trustees present their report with the fmancial statements of the chartty for the year ended 31 August 2024. The tees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicabl¢ to charities pr¢paring their accounts in accordance with the Financial Reportincy UK and Republi¢ of Ireland (FRS 102) (effective l January 2019). Standard applicable in the ORIECTIVES AND ACTIVITIES Objectives and aims The Society's objectives are to advance the education of the public in dTamatic and operaiic arts and to further the development of public appreciation and taste in the said arts. Public benefit The Society provides opportunities for metnbers to ¢xperience trainino and also perforniance opportunities in the theatrical arts. The public benefit from having the opportunity to experience live theatiical art perforniances in th¢ local area. ACHIEVEMENT AND PERFORMANCE Charitable activities Bridgwater Operatic society h&$ been able to continue its run of goi)d fortune being privilcged to be able to stage Ian Flemings tamous stage show 'Chity Chitty Bang Bang, as our Spring production. It sold well and was well received by both our audiences and critics alike, it was howcver an expensive show to stage and desptte strong ticket sales we were unable to recoup all of the large outlay and made a modest loss on the overall production. We were however able to take great pleasure in staging such a prestigious perfornlance that few other amateur companies would be able to stage kmd to such a high standard and reminded ourselves that our primary 'raison de etre, was to produce art, and not to make money. That said, no company can survive for long on dwindling revcnues and it was therefore decided prudent to put on a srnaller budget AUrnn pr(Kluction at the recently refurbished Bridgwater Town Hall and a proposal was put to the committee to stage 'Elf, the musical, in December 2024. Shows at this time of year in Bridgwater are always a challenge as there is competition from not only carnivals and carnival concerts, but also a professional and local pantomim¢ gmups perforniing in the tOWT]. The show therefore did not sell quite as well as we had hoped but nevertheless was again very well received and should hav¢ made th¢ society a small profjt once the accounts are fully reconciled. Our next big Spring production will be the Andrew Lloyd Webber smash hit 'Cats' with auditions due to take place shortly and rehearsals starting soon after Christmas for staging at the Macrnillan in May of next ye. In other news, we again privileged to receive not one. but two Rosebowl nominations for our production of Chity, and were very fortunate indeed to win the category 'best child in an adult production, for Ileidi IsSS, a rising S of the future undoubtedly for her perfonnance as Jemima Potts. We have had a total of 4 resignations from the committee throU)0Ut the year from longstanding members and are very sony to lose th¢m, though all 4 remain as committed society members and friends. We are hoping to fill these vacancies at tlie AGM and will, I'm sure, be a huge asset to the society. In conclusioAL I Temain confident that the society is in safe hands and fmancially stable for the foreseeable future. FINANCIAL REVIEW Reserves poliey All monies received by the treasurer shall be paid into the Society accounts as direrted by the committee. All funds which in the opinion of the committee are available for investment shall be transferred or paid into the account of the Society at such bank or building Society as the committee direct. The account shall hold a sufficient reserve so that any possible loss on future productions cart by fully funded and that in addiiion, the society is abl¢ to meet its fanCial conllnitments for the following twelve months. The reserves held at the year-end were £104,886 (2023 £116,563) Page I
Brid .uater O eratic Society ort of the TteeS for the Year Ended 31 Au ust 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing doeument The Society is governed by its constitution. which was adopted on 24 Ortober 2001. The society is a registered charity nltmber 1089254.The charitable status of the society was established on 7 November 21M)I. The Society is njn by th¢ committee of management. All p¢tsons ¢lect¢d to the committee at the AGM become trustees of ihe Society. Further m¢mbers may b¢ co-opted but would not b¢come trustees. REFERENCE AND ADMINISTRATIVE DETAILS Rcgistered Charity numbcr 1089?54 Principal address CIO 16 Esplanade Burnham On Sea Somersct TA8 IBG Trustees M E Peters Chair Miss (T A Mear Truslee A M F.dwards Trustee L White Truslee J Tuckcr Trustee Miss O Handal Trustee (resigned I l.12.23) D R Baker Trustee Mrs S l Baker Trustee Miss L F. FAlwards Trustee (resigned 20.2.24) A Pomeroy 'I'rustee {dece&sed 6.10.23) Ms K Williams Trustee Mrs C Creedy Trustee (resigned 31.8.24) Mrs S Creswick Trustee Mrs J Baker Tstee (resigned 31.8.24) Ms K Warren Trustee T Louisiopoulos Trustee (resigned 2.10.23) J Flolliday (appointed 19.12.24) Mrs R J Dolding (appoinled 19.12.24) N Priddle ((wpointed 19.12.24) M J Dodden (appointed 19.12.24) S R l.ewin (appointed 19.12.24) Independent Examiner Maxwells Chartered Accountants 4 King Square Bridgwater Somersel TA6 3YF Bankers Lloyds Bank plc 25 Cornhill Bridgwater Somerset TA6 3AY Page 2
Bndwv.ater Operatic Society Re ort of the Tntstees for the Year Ended 31 Au ust 2024 Approved by order of tbe board of trustees on ..2 ts F. b ru..#02 kd signed on its behalf by: ete Page 3
Indepe.ndeut Examin¢rf8 Re . art to the Trustees of Brid ater O eratic Society. ndependent examiner's report to the trustees of Bridowater Operatic Society I report to the charity tteeS on my examination of the accounts of Bridgwater Operatic Society (the Trust) for the year cnd¢d 31 August 2024. Responsibilities and basis of report As the cllarity trnstees of the Trust you are responsible for the prepardtion of the accounts in accordance with the requiremeiits of the Charities Act 2011 ('the Act,). I report in respect ofmy examination of the Trust's accounts carried out under Section 145 ot.the Act and in canylng out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5}(b) of the Act. Independent examiner's ststement I have completed my examination. I confinn that no material matters have come to my attention in connection with the ¢MInatiOn giving me cause to believe that in any material respect: accounting Tecords were not kept in respect of the Trust as required by Section 130 of th¢ Act; or the accounts do not accord with thos¢ rccords; or th¢ accounts do not comply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 oth¢r than any Tequirement that the accounts give a true and fair view which is not a matter considered as part of an ind¢pendent exaTnination. 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. QTavin Roberts (ACA FCC:A) i axwells Chartered Accountants 4 King Square Bridgwaler Somerset 'rA6 3YF Date.. Pag¢ 4
Brid ater O eratic Socie Statement of Financial Activities for the Year Ended 31 Au ust 2024 31.8.24 Unrestricted funds Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 30 15 Charitable activities Presentation of musical shows General F'undraising 49,831 1264 35,628 Other trading activities Investment income 4,180 342 3,705 173 Total 55,647 40,376 EXPENDITURE ON Charitable activities Presentation of musical shows tiencral Fundraising 5&973 8,352 38,407 11,835 Total 50,242 NET IIYCOME/(EXPENDITURE) {11,678) (9,866} RF.CONCILIATION OF FUNDS Total funds brought forward 116A63 126,429 TOTAL FUNDS CARRIED FORWARD 104,885 116,563 Tbe notes forni part of these financial statements Page 5
Bridgwaler Operatic Society Balance Sheet 31Au ust ?024 31.8.24 Unrestricted funds Tolal funds Notes FIXED ASSETS Tangible assets 73,205 74,307 CURRENT ASSETS Stocks Debtors Lash at bank ?50 4,710 37,881 12,227 27,685 39,912 42,841 CRF,DITOIL%' Amounts falling due within one year (8,232) (.$85) NET CURRENT ASSETS 31,680 42,256 TOTAL ASSETS LESS CURRENT LIABILITIES 104,885 116,fj63 NET ASSETS 104,885 116,$63 10 lJnrestricted llds 104,885 116,563 TOTAL FUNDS 104,885 116,563 The fanCIal statements were approved by the Board of TNstees and authorised for issue and were signed on its behalf by: on A M Edwards - Trustee The not¢s fonn part of these financial statements Page 6
water BrideratiC Society Notes to the Financial StatemenL8 for the Year End u%t 2024 ACCOUNTINC POLICIES Basis of preparing the fmancial statements The financial statements of the charity, which is a public benefit entity under FRS 102. have been pr¢pared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recomrn¢nded .Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Stalldard 102 'The Financi<il Reporting Standard applitabl¢ in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Ststement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be r¢ceived and the amount can be measured reliably. Expenditure Liabilitics are recognised as expenditute as soon &8 there is a legal or constructive obligation commilling the charity to that expendilure, it is probable that a transfer of economic benefits will be required in settlernent and the amount of the obligation can be measured reliably. F.xpenditure is accounted for on an accruals basis and has been classified under headings that aggre&Tate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocatcd to actlVLties on a basis consistent with the use of resources. Tangible fixed assets l)epreciation is provided at the following annual rates in order to write oly each asset over its estimated useful life. Improvements to property Plant and machinery Tr ixtUTes and fittings I 00/0 on reducing balance 12.50/0 on Cost IOO/o on reducing balance Slock's are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is ¢x¢mpt from tax on its charitable activities. Fund accounting Lnrestrict¢d funds can be used in accordance with the charitable objectives at the discretion of the ttijstees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when sp¢¢ifi¢d by the donor or when funds are raised for particular restricted purposcs. Further explanation of the nathre and purpose of each fund is included in the notes to the financial statements. Page 7 continued...
Brid ater O tic Socie Notes to the Financial Statements - continued for the Year Ended 31 Au ust 2024 OTHER TRADING ACTIVITIES 31.8.24 MembeTShip subscriptions Fundraising 2,289 1.891 1,704 2.001 4,180 3,705 INVESTMENT INCOME 31.8.24 31.8.23 Interest receivable - trading 342 173 TRUSTEES, REMUNERATION AND BENF.FITS There were no trustees, remuncrdtion or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trusttts, expenses There wer¢ no 31 August 202). trustees, expenses paid for the year ended 31 Augiust 2024 nor for thc year ended COMPARATIVFS FOR THF. STATF.MENTOF FINANCIAL ACTIVITIF.S lJnrestricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 15 Charitable activities Prcscntatioii of musical shows Cjeneral Fundraistiig 35,C)28 855 Oth¢r trading activities Inv¢stment income 173 Total 40.376 EXPFNDITURE ON Charitable activities Presentation of musical shows General Fundraising 38,407 11,83S Totsl 50,242 NET IINCOME/<EXPENDITURE) (9,866) RECOP4CRLIATRON OF FUNDS Total funds brouoht fonvard 126,429 TOTAL FUNDS CIIRRIED FORWARD 116,56J continued...
Brid ater O Not_es to the Finan¢ia_I S_tatements - continued_ ust 2024 for the Year Ended 31_All_.. TANGIBLE FIXED ASSETS Improvements to propety Fixtures Freehold propety Plant ad machinery fittings Totals At I September 2023 and 31 Auoust 2024 64,169 10,538 1,745 361 76,813 DEPRF,CIATTON At I September 2023 Charge for year 2,002 854 436 218 68 30 2506 1,102 At 31 August 2024 2,856 98 3,608 NET BOOK VALUE At 31 Augus12024 64,169 7,682 1,091 2L 73,205 At 31 August 2023 64.169 8,536 1,309 293 74,307 STOCKS 31.8.24 31.8.23 Stocks 2.50 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.24 31.8.23 Trade debtors Prepayments and accrued income 180 12,047 160 4.550 12,227 4,710 CREDITORS: AMOUNTS FALLINC DUF WITHIN ONE YEAR 31.8.24 31.8.23 Other creditors 8232 585 io. MOVEMELYT IN FUNDS Net movement in fijnds Transf¢rs between funds At 31.8.24 At 1.9.23 Unrestricted funds General fund AnNthing Goes Chitty Chity Bang Bang 118,331 (1,768) (2,687) 150 (9,141) (10,759) 1,618 9,141 104,885 116,563 (11,678) 104,885 TOTAL FUNDS 116,563 {11,678) 104,885 Page 9 ontinu¢d...
Bridgwater Operatic Society Notes to the Financial 8tatemenL8 - continued io. MOVEMENT IN FUNDS- continued Net moveinent in funds, Included in the above are as follows.. Incoming resources Resources expcnded Movernent in funds Unrestricted funds (ienerdl fund An>rthing CJoes Chitty Chitty Bang Bang 5,665 150 49,832 (8J52) (2,687) 150 (9,141) (58,973) 55,647 {67J25) (11,678) TOTAL FUNDS 55,647 {67J25) (11,678) Comparatives for movement in funds Net movement in funds Transfers between funds At 31.8.23 At 1.9.22 Unrestrieted funds General fund Production - Priscilla An)ohingy (joes Lhity Chitty Bang Bang 122,379 (3,038) (1,020) (1,7.fj8) (4,050) (5,060) 1,020 (10) 4,050 114.281 (1,768) 4,050 4,050 126,429 (9,866) TOTAL FUNDS 126,429 (9,866) 16,.fj63 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movemenl in funds Unrestricted funds (i¢llLral fund Production - Priscilla Anything Goes L,htty Chity Bang Bang 8,797 (1,020) 36,649 (4,050) (11,835) (3,OJ8) {1,020} (1,758) (4,040) (38,407) 40,376 (50,242) {9,866 } TOTAL FUNDS (50,242) (9,866) Paoe 10 continued...
Brid warer O ratic Socie Notes to the Financial Statements- continued for the Year Ended 31 Au ust 2024 io. MOVEMENT IN FUNDS - continued A current year12 months and prior year 12 months combined position is as folloivs: Net movement in tunds Transfers between fiLnds At 31.8.24 At 1.9.22 Unrestricted funds CJeneral fund Production - Triscilla Anirthing QrO¢S Chity Chity Bang Bang 122,379 (5,725) (1.020) (1.608) (13,191) (15,819) 1,020 1.608 13,191 100,835 4,050 4,050 126.429 (21,544) 104,885 TOTAL FUNDS 126.429 (21,544) 104.885 A Cuent year 12 months and prior year 12 months combined net movem¢nt in funds, included in the above are as follows.. Incoming resourccs Rcsources exp¢nded Moveinent in funds L nrestricted funds Lieneral fund Produ¢tion - Priscilla Ai)ything Gocs Lhity Chitty Bang Bang 14,462 (1,020) 36,799 45,782 (20,187) (5,725) (1,020) (1,608) (13,191) (38.407) (58,973) 96,023 (117,567) (21,544) TOTAL FUNDS 96,023 (117,567) {21,544) RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 August 2024. Pagell
Brid ater O ratic Socie Detailed Statement of Financial Activities for the Year F.nded 31 Au(YUSt 2024 31.8.24 31.8.23 INCOME AND ENDOWMENTS Donations and legaeies Donations 30 15 Other trading aelivities Membership subscriptions Fundtaising 2,289 1,891 1,704 2,001 4,180 3,70.f Investment income Int¢r¢st re¢¢ivable- trading 342 173 Charitable aciivities Production income Flire of clubroom 49,831 1264 855 51,095 36,483 Total incoming resources 55,647 40,376 EXPENDITURE Charitablc Activities Katcs and wat¢r Insurance Light and hcat Production costs I,eual fees NOI)A Admin A ward F.xpenses Donalion C'leaning Fquipment Repair5 and maintenance Stock purchased Ilospitalily M¢mbcrship Newslctters Website Depreciation of tangible fixed assets 240 ,667 1,917 258 1,966 1,451 38,407 120 492 21 240 260 530 10 202 2,588 432 25 56 1,250 1,199 303 304 185 405 204 25 66,712 49,507 Support costs Governance e05ts Accountancy and legal fees 613 735 This page does not forni part of the statutory f]nancial statements Page 12
Brid water O ratic Sociel Detailed Ststement of Financial Activities for the Year Ended 31 Au ust 2024 31.8.24 31.8.23 Total resources expended 67J25 50,242 Net expenditure (11,678) (9,866) This page does not forni part of the statutory financial statements Page 13
Notes to the FinanciaL Statements forthe year ended 31 August 2024 Production Account Chittychltty Bang Bang Total 2023 Income Box off ice 42.768 931 3,155 2.025 952 42.768 931 3,155 2,025 952 29,673 1,023 2.683 1,850 1130 400 Raffle prolit Programme sales and adverts Showfees Sponsorship Set Wardrobe Prop5 loo 30 Total production income 49,831 49,831 35,629 Expenditure Expenseslcontlngency Props Lighting Insurance Banklorchestra Royalties Musical director expenses Hire of haliltheatre Publicity and advertising Sound 279 798 4,551 3,086 240 4,800 8,202 2,570 8,676 1,135 2,712 1,589 13,230 4.462 392 252 579 4.551 3.086 240 4,800 8,202 2,570 8,676 1,135 2,712 1,589 13,230 4,462 392 252 579 2,869 238 5.355 4,748 1,610 6.672 1.821 2,200 913 Hlrelpurchase of books Set Wardrobe Wigs and make-up Audition material Castlgreen room refreshments Ticket sales commission Choreographer Costumes Programmes 3,680 2,811 2,248 141 1,538 1,538 1,424 300 300 959 959 Total production costs 58,972 58,972 38,407 Netincome {expenditure} on productlon {9,141) {9,141) 12,778)