REpoirr OFTHE TRUSTEES AND FINANCIAL sfATEMEKfs FOR THE YEAR ENDED 31st DECEMBER 2023 FOR WORCEsfER OPERATIC AND DRAMATIC soaErY Reglstered Charlty Number: 1091564 Cover
Worcester Operatlc And Dramatit Society Contents of the Financial Statements for the Year Ended 315t December 2023 Page Referen and Adminsitrative Details Report of the Trustees 2to4 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t016 Index
Worcester Operatic And Dramatic Society Reference and Administrative Details forthe Year Ended 31st December 2023 TRUSTEES M Astles (President) A Turner (Secretary) A Hasnip Ilmmediate Past President) R Price Icommercial Manager) L Berryman P Brown J Field S Gilhooly C Holloway C Hooper Ajakeman {appointed 27 April 20231 PRINCIPAL ADDRESS St Mary's Hall Northfield Street Worcester WRI INS REGISTERED CHARITY NUMBER 1091564 INDEPENDENT EXAMINER The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester wOrStershIre WRI IRU SOUCITORS HalmarkwhatleY Hulme 4-5 Sansome Place Worcester WRI IUQ BANKERS Santander PIC Bootle Merseyside L30 4GB Barclays Bank I Churchill Place London E14 5HP Page I
Worcester Operalk And Dramatic Soclety Report of the Trustees forthe Year Ended 31st December 2023 The trustees present their report with the financial statements of the Society for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effective I January 2019}. OBJECTIVES AND ACTIVITIES The object of the Society is to educate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said arts, to assist and further such charitable institution5 and charitable purposes as the committee shall from time to time determine. Si8nificant Actlvities The object of the Society is to educate the public in the dramatic and operatic arts. to further the development of public appreciation and taste in the said arts, to assist and further such charitable institutions and charitable purposes as the committee shall from time to time determine. The principal activities continue to be the performance of three full-scale musical productions per annum in local theatres and other smaller scale musical and dramatic works in other venues in the Worcester and Malvern area. Productions are carefully chosen fortheir educative value and their potential to broaden the Scope of the theatrical and artistic provision available to the local community. The Society particularly values its involvement with young people, organised through itsyouth Section, to Publlc Benefft The trustees confirm that they have complied with the duty in Section 17151 of the 2011 Charities Act to have due regard to guidance on public benefit published by the Charities Commission when reviewing the charivs objectives and in planning future activities. ACHIEVEMENT AND PERA)RMANCE During 2023, the Trustees have focused on continuing the process of stabilising our procedures and annual cycles of activities that we had established over many years before the COVID-19 pandemic hit us. We have continued to stage ourtraditional three shows a year- two by WODS and one by our Youth Section WODYS. These shows were staged in April 2023 (The Sound of Music) and October 2023 {The Wedding Singer) with ouryouth Section show in August 2023 {Carousell. The hesitancy of post COVID audiences to return in 2022 has now been replaced by financial pressures on our customers, domestic budgets. In setting our show budgets, we have been tightly squeezed between the relentless increase in our production costs (theatre, set and costurne hire) and the extent to which we can increase ticket prices to compensate without scaring away our audiences. A continuing concern has been the above-inflation annual increases In the cost of hirin8 our main venue the Swan Theatre, exacerbated by the deterioration in some of the theatre facilities, necessitating more hiring-in of equipment. This has pushed our break-even points even higher, We have recently analysed our show finances over the past 10 to 15 years to try and look for areas where we could make savings on our non-fixed costs. This has identified some areas where we can make savings without compromisingthe quality of our shows, such as Programme costs, professional fees and the use of more in-house costumes, sets and props. The income on hiring out our Hall has continued to recover in this past year due to the increased number of enquiries through our own web-site. The income from the hire of our car-parking spaces has continued to be stable and we normally have a waiting list for spaces to hire. Throughout the year, the Trustees have placed great importance on communication with our membership by means of regular Facebook postings and Newsletters. We have also continued to hold New Member evenings at the Hall to talk to small groups of potential new members about the Society, the future shows we have planned, offer refreshment5 and give them a tour of the Hall facilities. This has continued to be very successful in converting expressions of interest into signed-up Membership. Page 2
Worcester Operatic And Drnmatlc Soclety Notes to the Financial Statements-continued for the Year Ended 31st December 2023 ACHIEVEMEMf AND PERFORMANCE continued. Our premises, St Maivs Hall, is a great asset for the Society but one which requires constant upkeep. During the past year, we have commissioned a structural survey of the building together with a drone survey of the roof. These showed no major concerns but a small number of minor stonework issues that need attention overthe next 12 months. A team of volunteers has continued to meet weeklyto carry out minor repairs and cleaning. We have recently reviewed our Buildings Insurance policy with NFU to ensure it accurately rneets our needs. Finally, the Trustees have started to plan forthe future to ensure the Society is re- structured to address the changing ethos of the Society from a social group to a production-oriented enterprise. Changes tothe Constitution and the waythat key decisions are made by the Trustees will be introduced over the next year. Overall, this year has been one where the Society consolidated its operations and finances, but with an increasing emphasis of planning ahead for the future to enable us to continue to provide high-quality entertainment while maintaining a sound financial position. FINANCIAL REVIEW Total Funds amounted to£118,059 at 31 December 20231£118,713 at 31 December 20221 of which £4,988 was held in Restricted Fund51£7,048 at 310ecember 20221. Unrestricted incoming resource5 for the year amounted to £117,21412022: £108.9551 and Unrestricted out80ing resources amounted to £117,16312022'. £119,997) resulting in net income, after 8ains and losses on investments, of £1,406 {2022: deficit £14.6941. Restricted Incoming resources for the year amounted to £2,799 12022: £0) and restricted outgoing resources amounted to £4,859 {2022'. £0) resultin8 in net expenditure of £2,060 12022.. £01. Reserves Pollcy In normal years not disrupted by unforeseen events beyond the Charivs control cashflows do not happen evenly month by month, but are heavily skewed around the months before, during, and after the main Charitable Activities which are always bud8eted to be cash neutral. Typically this is between the months of March to May and July to November. Other cashflows in respect of the Charity's Support Activities are regarded as happening evenly month by month. The strategy agreed by the trustees is to maintain an unrestricted reserve fund equivaSent to approximately 9 months expenditure of Support Costs. The Charivs general unrestricted reserves excluding fixed 355ets were £54,887 at 31 December 202312022: £55,6221, representing approximately 32 months of unrestricted supporting expenditure, therefore the strate8y is currently being achieved. The Trustees recognSse the importance of rigorous financial control. and they are pleased to report that unrestricted reserves continue to be maintained at an acceptable level despite a year of significant inflationary pressure. Audience levels continued to be acceptable whilst it is clear the general theatre going public are becoming increasingly discernin8 regarding which productions they can afford to support. Admission ticket prices continue to be difficult to maintain as the financial pressure on break even points continue to rise. The Trustees critically review every element of production expenditure whilst ensuring that the quality of what Is being offered is maintained. Accordingly, the ongoing challenge to the Society is to continue to present a varied and attractive programme to the theatre going public whilst controlling its costs within its agreed budgets and thereby maintsin its reserves at an acceptable amount. Page 3
Worcester Operntic And Dramatlc Soclety Report of the Trustees- Continued forthe Year Ended 31st December 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The charity is controlled by its governing document, a deed of trust. and constitutes an unincorporated charity. Rlsk Management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and ern)r. Durin8 2023 the trustees continually monitored the exposure of the Society to ongoing risk in accordance with their adopted Risk Policies, including Child Protection, Equal Opportunities and Health & Safety. CONSTITUTION Worcester Operatic and Dramatic Society {"the Sociev) became a registered charity on 8 April 2002 and is governed by its constitution adopted on 24 April 2020. Charity number 1091564. TRUSTEES The members of the Society's committee are its trustees for the purpose of charity law and throughout this report are collectively referred to as its trustees. As set out in the constitution the Annual General meeting elects the trustees comprising up to ten members of the Society. two of whom retire by rotation. and are eliBible for re*lection. In addition, the Immediate Past President and the Chairperson of the Youth Section sub- committee are co-opted to the committee as a members. ORGANISATION The tru5tee5, who meet monthly. administerand managethe dayto day affairs. There is a sub-committee that administers the Youth Section. INVESTMENf POWERS Under the constitution, the trustees have the power to invest funds in the name of the Society, as they deem appropriate. Approved by order ofthe board oftrustees on....ZAI.I..l.w........................ and signed on its behalf by. d Skelton PresidenVTrustee Page 4
Independent Examiner's Report to the Trustees of Worcester Operatic And Dramatic Soclety Independent examiner's report to the trustees of Worcester Operatic And Dramatic Society I report to the charity trustees on my examination of the accounts of Worcester Operatic And Dramatic Society Ithe Trust) for the year ended 31st December 2023. Responsibilities and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'}. I report in respert of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llbl of the Independent examlner's statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respert.. accounting records were not kept in respect of the Trust as required by section 130 of the Act: or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any reqUirnent that the accounts give a true and fair view which is not a matter conSided 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 understsndin8 of the accounts to be reached. Melissa Godwin ACAACCA The Richards Sandy Partnershlp Thorneloe House 25 Barbourne Road Worcester Worcestershire WRI IRU Date: ..... 2&1.1..J.2s¥............... Page 5
Worcester Operatic And Dramatic Society Statement of Financial Activities forthe Year Ended 3tst December 2023 2023 Total Funds 2022 Total Funds Unrestricted Restrirted Funds Funds Notes INCOME AND ENDOWMEPS FROM Donations and legacies 10,679 2,799 13N78 12.161 Charitsble actbvitles Productions Workshop and cabaret 95,702 95.702 430 85,722 195 Other trading activities Investment income Other income 9.211 1,089 103 9,211 1,089 103 10,303 412 162 Total 117.214 2,799 120,013 108,955 EXPENDITURE ON Raising funds Charitable activitles Productions Workshop and cabaret 206 116.291 633 4,859 121,150 119,353 438 Total 117,163 4.859 122,022 119,997 Net gains on Investments 1,355 1355 3,652 NET INCOME 1,406 2,060 14,694 RECONCILIATION OF FUNDS Total funds brought forward 111,665 118,713 133,407 TOTAL FUNDS CARRIED FORWARD The notes form part of these financial statements Page 6
Worcester Operdlic And Dramatic Society Balance Sheet 3tst December 2023 2023 Totsl Funds 2022 Total Funds Unrestricted Restricted Funds Funds Notes FIXED ASSErs Tangible Assets Investments 23,798 34,386 23,798 34,386 24,499 31,544 13 58,184 58,184 56,043 CURRENfASSErs Debtors Cash at bank and in hand 14 14.871 44.564 16311 13,790 48.lll 54,640 3.548 59,435 4,988 64,423 68,430 CREDITORS Amounts falling due within one year 15 4.548 5,760 NET CURRENf ASSETS TOTAL ASSEfs LESS CURRENT LIABILMES 113,071 4,988 118,059 118,713 NET ASSETS FUNDS 16 Unrestrlcted funds: Generalfund WODS Youth Section Armstrong Youth Fund 104,449 6,822 94,609 15,216 1,840 113,071 111,665 Restrlcted funds 4.988 7,048 TOTAL FUNDS The financial staternents were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: *712 Dr M Astles- Trustee Page 7
Worcester Operatlc And Drdmatic Society Notes to the Flnanclal Statements for the Year Ended 3tst December 2023 AcCOU1NG POLICIES BASIS OF PREPARING THE FINANCIAL sfATEMEKrs The financial statement5 of the charity, which is a public benefit entity under FRS102. have been prepared in accordance with the Charities SORP {FRS1021 "Accounting and Reporting by Charities- Statement of Recommend Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {Financial Reporting Standard 1021 (effective l January 2019) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The accounts are prepared in sterling, thich is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The charity is exemptfrom preparing a statement of cashtlow on the ground5 that it is not a large charity. INCOME Income from grants {including government grants) and donations is recognised on a performance basis in the period In which the charity is entitled to receipt and the amount can be measUd with reasonable certainty. Income from charitable activities mainly relates to ticket sales and this is recognised when the service is provided to the ustomer. Merchandise sale5 are recognised on exchange of goods. Income from trading artivities, including rents reived, is recognised on an accruals basis. I nvestment income Is recognised when the relating investments issue notice of distribution to Its investors. I nterest income is recognised for all interest bearlng investments on an accrual basis. Membership subscriptions, rental income and ticket income received for periods commencing after the balance sheet date are treated as deferred income, as the charity does not yet have entitlement to the funds. EXPENDITURE Llabilities are recognised as expenditure as soon as there 15 a legal or constructive obligation commltting the charity to that expenditure, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that a88regate all cost related to the category. Where costs cannot be direttly attributed to particular headings they have been allocated to activities on a basls consistent with the use of resour5. CHARITABLE AcrivtriES Costs of theatre productions and the costs of running the charity'5 premises are treated as charitable activities in the accounts. TANGIBLE FIXED ASSErs Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold Property Improvements to property Fixtures an fittings 2Yo on cost - 20% on cost - 20Yo on cost Tangible fixed assets are induded at cost less depreciation. Purchases are capitalised and depreciated when it can be demonstrated that the item retained a holding value atthe financial year end, and the purchase price was greaterthan £5,OCO. TAXATION The charity is exempt from tax on its charitable activities. Page 8
Worcester Operatic Arml Dramatic Society Notes to the Financial Statements- continued for the Year Ended 31st December 2023 Accouf4TING POLICIES- contlnued FUND ACCOUNTING The charity maintains an Unrestritted Fund for its day to day activities. Designated funds are maintained for the activities of the charity's Youth Section "WODYS" and the future maintenance and upkeep of the charity's premises. Transfers are made to or from the WODYS Fund so that the Youth Section has sufficient working capital to stage future performances prior to ticket sales being received. Grants received are credited to specific Restricted Funds as detemiined by the terms of their donation and expenditures are charged accordingly against these funds. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. INVESTMENTS Investments are included at market value at the balance 5h&t date. Any increase or decrease in market value is recognised in the statement of financial activities. The charity has elected to apply the provisions of Section 11 "Baslc Flnancial Instruments" and Section 12 "Other Financial Instruments Issues of FRS 102 to all its finanaal instruments. Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument. Financial a55ets are offset, with the net amounts presented in the accounts where there 15 legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc Flnanclal Assets B35ic financial assets which include trade and other receivables and cash and bank balances. are initially measured at transaction pri including transattion costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the transattion is measured at the present value of the future receipts discounted at a market rate of interest. Basic Flnanclal Llabilities Basic financial liabilites, Including trade and other payables, are initially reco8nised at transattion price unless the arrangement constitutes a financial transattion, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cosL using the effective interest method. Page 9
Worcester Operatic And Drdmatlc Soclety Notss to the Financial StateMts- contlnued for the Year Ended 31st December 2023 DONATIONSAND LEGACIES 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Fun¢ts Donations GIftd Grants Membership Subscriptions 2,188 1,244 510 1,264 2,667 7,720 2,799 7,247 7,247 10,679 2,799 GRANTS RECEIVED 2023 2022 Other grants Worcester City Council - Covid19 Business Support Grant 2,799 2,667 OTHER TRADING ACTivrriES 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Funds Car Park income Hire income Raffle Income Sale of "History of WODS book Sale of refreshments Sale of promotional items 5,828 973 1,828 5,828 973 5,846 904 2,070 583 465 435 299 283 INVESTMENT INCOME 2023 Total Funds 2022 Total Funds Unrestricted Restricted Funds Funds Bank interest Dividends 267 822 267 28 INCOME FROM CHARITABLE AcrivrriES 2023 2022 ricket Sales Programme Sales Programme Advertising Grant from Worcester Arts Council Sale of Costumes Sale of Promotional Garments Sundry Income 79,178 2,483 2,600 5(XJ 3,223 2,650 961 70 Workshop and cabaret income 430 195 Page 10
Worcester Operatic And Dramatlc Society Notesto the Financial Statements- continued for the Year Ended 31st December 2023 CHARftABLE ACtivrriES COSTS Dirert Costs Isee note 7) Support Costs {see note 8) Totals Productions Workshops and Cabaret 96.457 633 24,693 121,150 633 DIREcr cosrs OF CHARtrABLE AcfMtIES 2023 7,237 2022 6,138 8,691 1,350 1,367 19,694 5,316 14,713 8,809 6,624 255 24,294 438 Advertising and promotion Costumes and make-up Director and choreographer fees Entertaining and gratuities Musician'5 fees and rehearsal materials Programme costs and photos Royalties Scenery and properties Sound and lighting Sundries Venue hire Workshop and cabaret 475 1,768 20,242 5,486 14,952 8,405 7,040 125 25,147 633 SUPPORT COSTS Governance Costs Management Other Totals 23,553 1,140 24,693 All support costs have been allocated agatnst production activities due to the minimal value attributable to workshop and cabaret activities. Unrestricted Restricted Fund5 Funds 2023 Total Funds 2022 Cleanin& laundry and wardrobe Depreciation of tangible and heritage assets Donations History of WODS production costs Independent Examination Insurance Light, heat and water Membership expenses Postage and Stationery Repairs to charity property Subscriptions Sundries Telephone 1,709 701 1,540 1,709 701 1,540 1,254 701 1,909 14 7CQ 3,739 2,741 752 2,151 7,056 97 210 778 1,140 3,633 3,431 1,020 1,452 4,417 255 1,140 3,633 3,431 1,068 1,452 9.228 255 4,811 536 536 Page 11
Worcester Operallc And Dramatic Society Notestothe FinantialStatements- continued for the Year Ended 3tst December 2023 TRUSTEES, REMUNERATION AND BENEFITS During the year ended 31 December 2Q23 two trustees received honoraria totalling £375 in their capacities as produrtion director of one show each.12022.' £1901 TRUSTEES, FAPENSES During the year ended 31 December 2023 two trustees were reimbursed a total of £163 for stationery costs These are as permitted by the Charity's Governing Document STAFF COSTS 12022 .' £1191. io. Therewere no staff costsforthe yearended 31stDecember 2023 northe year ended 31st December2022. ii. COMPARATIVES FOR THE sfATEMENT OF FINANaAL AcllviTIE5 UnStrICted Restricted Funds Funds Total Funds INCOME AND ENDOWMENTS FROM Donations and legacies 12,161 12,161 Charitable activities Productions Workshops and Cabaret 85,722 195 85,722 195 Othertrading activities Investment income Other income 10,303 412 162 10,303 412 162 Total EXPENDITURE ON Raising funds 206 206 Charitable activities Productions Workshops and Cabaret 119,353 438 119,353 438 Total Net galns on investments -3,652-------------------- 3,652 NET INCOME RECONCILIATION OF FUNDS Total funds brought forward 126,359 7,048 133,407 TOTAL FUNDS CARRIED FORWARD Page 12
Worcester Operatic Ar Dramatic Society Notesto the Financial Statements- continued for the Year Ended 31st December 2023 TANGIBLE FIXED ASSETS Improvements Fixtures to and Property Fittings Freehold Property Totsls COST At 1st January 2023 and 31st December 2023 35,015 67.096 9,820 111,931 DEPREaATION At 1st January 2023 Charge for Year 10,516 701 67.096 9,820 87,432 701 At 31st December 2023 11, 88,13 NEf BOOK VALUE At 31st December 2023 23,798 23,798 At 31st December 2022 24,499 24,499 13. FIXED ASSEf INVESTMENTS Investments MARKETVALUE At 1st January 2023 Additions Disposals Revaluations 31,544 27,735 -26,248 1,355 At 31st December 2023 NET BOOK VALUE At 31st December 2023 At 31st December 2022 Page 13
Wortester Operatic And Dramatic Society Notesto the Flnancial Statements-continued for the Year Ended 3tst December 2023 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Unrestricted Restricted Funds Funds 2023 2022 Otherdebtors Prepayments and accrued income 1,050 13,821 1,050 15,261 1,800 11,990 14, 15. CREDITORS:AMouMfs FALUNG DUE WITHIN ONE YEAR 2023 2022 Othercreditors Deferred income Accrued expenses 255 2,079 3,426 2,171 2,3TI Deferred income included within the above relates to income received in advance for car park rent. 16. MOVEMENT IN FUNDS Net In funds Transfers funds At 1.1.23 31.12.23 Unrestricted funds General Fund WODS Youth Section Armstrongyouth Fund 94,609 15,216 1,840 2,160 3,606 12,OCK) 12,0 104,449 6,822 1,800 Restrlcted funds Instrument Fund WODYS Benefit Fund Upkeep of Building Fund 2,000 48 5,000 12 4,988 TOTAL FUNDS Net movement in funds, included in the above are as follows., Incoming resources Resources Expended Gain5 and losses Movement in funds Unrestricted funds General Fund WODS Youth Section Armstrongyouth Fund 82,161 35,052 85,676 31,446 40 117,162 1,355 2,160 3.606 117,213 1,355 1,406 Restricted funds Instrument Fund WODYS Benefit Fund Upkeep of Building Fund 1,199 3,199 2,OCM) 48 12 1,612 TOTALFUNDS 120,012 122,021 1,355 654 Page 14
Worcester Operatic And Drdmatic Society Notesto the Financial Ststements- continued for the Year Ended 3tst Dember 2023 16. MOvEMEIN FUNDS-continued Comparatives for movement in funds Net Transfers movement between in funds funds At 1.1.22 At 31.12.22 Unrestrirted funds General Fund WODS Youth Section Building Repairs Armstrong Youth Fund 111,992 10,243 2,124 2,000 -17,383 4,973 -2,124 -160 94,609 15,216 Restrlrted funds Instrument Fund WODYS Benefit Fund Upkeep of Buildin8 Fund 2,lJJO 48 Comparative net movement in funds, included in the above are as follows: Incoming Resources Gains and Movement resource5 Expended losses in funds Unrestrfrted funds General Fund WODS YoLSth Section Building Repairs Armstrong Youth Fund 64,925 44,030 -78,656 -39,057 -2,124 -160 -3,652 -17,383 4,973 -2,124 -160 TOTAL FUNDS 108,955 -119,997 -3,652 -14,694 17. RELATED PARTY DISCLOSURES None during the year ended 31 December 2023. PURPOSE OF FUNDS UNREsfRICTED FUNDS General Fund The unrestricted 8eneral fund can be used for any charitable purpose within the charity's objects and approved by the Trustees. It is largely held to provide for the future development of the Charity. WODS Youth Section Fund This fund is held to provide forthe futuredevelopment of the Youth Section of the Charity. Armstrong Youth Fund This fund is held to support the education. training. and development of theatre ski115 for society members who are under the age of 18. Building Repair Fund This fund is held to cover significant repairs to the building contracted in 2021 and which was fully expended during 2022. Page 15
Worcester Operalic And Drnmatic S¢xiety Notesto the Financial Statements- continued for the Year Ended 31st December 2023 PURPOSE OF FUNDS-continued RESTRICTED FUNDS Instrument Fund This fund comprises grants and donations received by the Society specifically for the purpose of replacing the rehearsal instruments when the time arises in future. and was fully expended during 2023. WODYS Benefit Fund This fund comprises the remaining unspent balance received by the Society from the Will of the late Mr Ray Portman which specified that it should be used for the benefit of WODY'S members generally. This fund was fully expended during 2023. UpkeepofBuildin8 Fund This fund is restricted to cover costs of si8nificant repairs to the building. History ofWODS Book Fund This fund comprises a donation from the Ken Dodd Foundation given specifically towards the production costs of a book about the history of the Society written by a former President, Mr B C Wyatt. Page 16