REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 FOR WORCESTER OPERATIC AND DRAMATIC SOCIETY Reglstered Charity Number: 1091564 Cover
WOrter Operatic And Dramatic Soclety Contents of the Financial Statements for the Year Ended 31st Detember 2024 Page Reference and Adminsitrative Details Report of the Trustees 2to5 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9t017 Index
Worcester Operatk And Dramatk Soclety Reference and Admlnlstrative Detalls for the Year Ended 31st December 2024 TRUSTEES D Skelton (President from 25.4.241 M Astles (President to 25.4.24 then Immediate Past President} A Turner (Secretary to 25.4.24 then retired) A Hasnip Ilmmediate Past President to 25.4.24 then Trustee) R Price (Commerclal Manager) L Berryman P Brown (retired 25.4.241 J Field S Gilhooly C Holloway C Hooper Ajakeman E Cooke lappolnted 25.4.241 T Edwards (Secretary from 25.4.241 A Hopkins (appointed 09 May 20241 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 Worcestershire WRI IRU SOLICITORS Hallmark Whatley Hulme 4-5 Sansome Place Worcester WRI IUQ BANKERS Santander Pl¢ Bootle Merseyside L30 4GB Barclays Bank I Churchill Place London E14 5HP Page I
Worcester Operatlc And Dramatic Society Report of the Trustees for the Year Endèd 3tst December 2024 The trustees present their report with the financial statements of the Society for the year ended 31 December 2024. The trustee5 have adopted the provisions of Accounting ènd Reporting by Charities.. statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectlve I OBJECTIVES AND AcrivmES The object of the Society is to edutate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said art5, to assist and further such charitable institutions and charitable purposes as the commtttee shall from time to time determine. Slgnlflcant Actlvities The objert 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 produrtion5 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 for their 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 its Youth Sertion, Publlc Benefft The trustees confirm that they have complied with the duty in Section 17151 of the 2011 Charities A¢t to have due regard to guidance on public benefit published by the Charities Commission when reviewing the charitvs objectives and in planninE future activities. ACHIEVEMENT AND PERFORMANCE There are currently 12 Trustees of the WODS Charity. They meet every month eitherface-to- face or on-line to review all aspects of the Societws progress. During 2024, the Trustees have focused on completing the re*stsblishment of our procedures and annual cycles of activities that we had developed over many years before the COVID-19 pandemic hit us. We have continued to stage our traditional three shows a year- two by our adult group IWODS) and one by our Youth Section {WODYSI. These shows were staged in April 2024 (Me & My Girl) and October 20241Sister Act} with our Youth Section show in August 2024 (Addam's Family), with all three shows being critically acclaimed and popular with our audiences and members alike. In setting our Show budgets, we continue to be tightly squeezed between the relentle55 increase in our production costs (theatre, set and costume hlre} and the extent to which we can increase ticket pricès to compensate without scaring away our audiences. During the p3St year, we have introduced a more rigorous process for choosing our productions, with careful review of the prospective cost of each production against a realistic expectation of audience numbers. A continuing concern for the Trustees has been the cost of hiring our main performance venue- the Swan Theatre- and the deterioration in some of the theatre facilities, necessitating more hiring-in of equipment. This has pushed our break-even points even higher. The Society has committed to supportin8 the Theatre through fund-raising to ensure that new lighting and sound facilities can be purchased in due time. We have recently analysed our show finances overthe past 10 to 15 yearsto 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. The Trustees have also adopted a policy position to use in-house li.e. nil cost) people in appointing our Production Teams by default, and not to engage external directors and choreographer5. Our Musical Directors continue to be paid a professional fee for their services. Page Z
Worcester Operdtk And Dramatic society Notes to the Financial Ststements- continued for the Year Ended 31st December 2024 ACHIEVEMENT AND PERFORMANCE continued. The cost of producing our show programmes have been significantly reduced and we are morevigorously pursuing advertising. Bolstering our team organising wardrobe, building sets and props has all led to a steadily increasing use of in-house resources and reducing our dependency on hired items wherever possible. The Trustees intend to continue pursuing additional opportunities and carefully considering realistic show budget5. whilst seeking to maintain the quality of our productions and audience appeal. 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 website, and promoting the hire of our premises on external local sites. Additionally, 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. We regularly benchmark our parking rentals with other local venues. Throughoutthe 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 refreshments and give them a tour of the Hall facilities. This has continued to be very successful in converting expressions of interest into new Members. It is howevera concern for the Trustees that the number of general supporters (Patrons) continues to reduce slightly each year, and this will be a further point of reflection in future planning of our membership strategy. Our premises, St Marfs Hall, is a great asset forthe Society but one whlch requires constant upkeep. Last year, we commissioned a struttural survey of the building togetherwith a drone survey of the roof. This showed no major concerns for the next 5-10 years, but highlighted a small number of minor stonework issuesthat have now been addressed and fully-funded using grants from a local charitable trust. The Trustees have determined to plan ahead and are compiling repair and development projects for St. Mary's Hall with a view to pursuing larger grant-funding. The intention will be to proactively mitigate maintenance and development costsforthe charity. A team of volunteers has continued to meet weekly to carry out minor repairs and cleaning. We regularly review our utility suppliers where possible to ensure best value-for- money. Finally, the Trustees have started to plan for the future to ensure the Society is re-structured to address the changing ethos of the Society from a social group to a more production-oriented enterprise. Changes to the Constitution and the way that key decisions are made by the Trustees will be explored over the next year. We plan to review how our membership structures and fees, and potentially explore per show membership as well as general membership opportunities. Overall, this year has been one where the Society has sought to consolidate its operations and finances, but with an growing emphasis of planning ahead for the future to ensure more control over our cash-flow and future financial health. Our main aim, in accordance with the charitvs stated intent, 15 to continue to provide high-quality entertainment while maintaining a sound financial position. Page 3
Worcester Operatlc And Dramatic Society Notes to the Financial Statements- continued for the Year Ended 31st Dember 2024 FINANCIAL REVIEW Total Funds amounted to £122,608 at 31 December 20241£118,059 at 31 December 2023} ofwhich £4,892 was held in Restricted Funds1£4 988 at 31 December 20231. Unrestricted incoming resources for the year amounted to £134,33712023: £117,214) and Unrestrlcted outgolng resources amounted to £131,75812023- £117,163} resulting in net income, after gains and losses on Investments, of £4,64512023: £1.4061. Restricted incoming resources for the year amounted to £2,784 12023: £2,799) and restricted outgoing resources amounted to £2,88012023: £4,859) resulting in net expenditure of £9612023.. £2,060). Reserves Policy In normal years not dlsrupted by unforeseen events beyond the Charitvs 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 Charitws Support Activities are regarded as happening evenly month by month. The strategy agreed by the trustees is to maintain an unrestricted reserve fund equivalent to approximately 9 month5 expenditure of Support Costs. The Charity's general unrestricted reserves excluding fixed assets were £57,323 at 31 December 202412023: £54,887), representing approximately 33 months of unrestricted supporting expenditure, therefore the strategy is currently being achleved. The Trustees recognise the importance of rigorous financial control. and they are pleased to report that unrestricted reserves continue to be maintained at an acceptable level de5Plte a year of significant inflationary pressure. Audience levels continued to be acceptable whilst it is clear the general theatre going public are becoming increasinglv discerning 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 produrtion expenditure whilst ensuring that the quality of what 15 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 whllst controlling Its Costs within its agreed budgets and therebv maintain its reserves at an acceptable amount. Page 4
Worcester Operatlc And Dramatle SodÈty Report of the Trustees- contlnued for the Year Ended 31st December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. Risk Management The trustees have a duty to identify and revlew the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assuran against fraud and error. During 2024 the trustees continually monitored the exposure of the Society to ongoing risk in accordance with their adopted Risk Policies, including Child Protertion. Equal Opportunities and Health & Safety. CONSTITUTION WOrSter Operatic and Dramatlc kniety 1.the SocIetl became a registered chartty on 8 April 22 and Is governed by its constitution adopted on 24 April 2020. Charity number 1091564. TRusfEES The members of the Societls commlttee are its trustees for the purpose of charity law and throughout thls 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 eligible for re-election. 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 trustees, who meet monthly, administer and manage the day to day affairs. There is a sub-committee that administers the Youth Section. INVESTMENT POWERS Under the constitution, the trustees have the power to invest funds in the name of the Society, a5 they deem appropriate. Approved by order of the board of trustees On ...-... and signed on tts behalf by- Mk C l(oLLoWAY - CKdiklth Page S
Independent Examiner's Report to the Trustees of Worcester Operatic And Dramatic Soclety Independent examiner's report to the trustees of Worcester Opefatlc And Dramatic Society I report to the charity trustees on my examination of the accounts of Worcester Operatic And Dramatlc Society (the Trust) for the year ended 31st December 2024. Responsibllltles and bas15 of report A5 the charity trustees of the Trust you are responsible for the preparation of the accounts In ac¢ordance with the requirements of the Charitie5 Att 20111'the Act'l. I report In respect of my examinatlon of the Trust's accounts carried out under sertion 145 of the Act and in carrylng out my examlnatlon I have followed all applicable Directions given by the Charity Commission under sertion 145151{bl of the Act. Independent examlner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l. accounting records were not kept in respect of the Trust as required by section 130 of the Art; or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2)8 other than any requlrement that the accounts give a true and fair view which Is not a matter considered as part of an independent examlnation. I have no concern5 and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Melissa Godwin ACA ACCA The Richards Sandy Partnership Thorneloe House 25 Barbourne Road Worcester Worcestershire WRI IRU Date: ............................................. Page 6
Worcestèr Operatic And Dramatk Sodety Statement of Financial Activltles for the Year Ended 31st December 2024 2024 Totsl Funds 2023 Total Funds Unrestrfrted Restrirted Funds Funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 11,754 2.784 14.538 13,478 Charftsble actlvltles Productions Workshop and cabaret 108,372 645 108.372 95,702 430 Other trading activities Investment income Other income 11.728 1.069 769 11,728 9,211 1,089 103 769 Total EXPENDITURE ON Raising funds Charitable activities Productions Workshop and cabaret 137 137 239 131,542 79 2,880 134,422 79 121.150 633 Total 131.758 2,880 134,638 122,022 Net gains on investments 2,066 1,355 NET INCOME RECONCILIATION OF FUNDS Total funds brought forward 113,071 4.988 118,059 118,713 TOTAL FUNDS CARRIED FORWARD The notes form part of these financial statements Page 7
Worcester Operntlc And Dramatlc Sodety Balance Sheet 31st December 2024 2024 Total Funds 2023 Unrestricted Restricted Funds Funds Total Funds Note5 FIXED ASSETS Tangible Assets Investments 12 13 23,097 37.296 23m7 37296 23,798 34,385 cURRETr ASSErs Debtors Cash at bank and in hand 14 13,359 48,438 1,392 3,500 14.751 51,938 16,311 48,113 CREDITORS Amounts fallin8 due within one year 15 4.474 4,474 -4,548 NEf CURRENT ASSErs 59, TOTAL ASSETS LESS CURRENT LIABILrriES 117,716 4,892 122,608 118,059 ASSETS FUNDS 16 Unrestrirted funds: General fund WODS Youth Section Armstrong Youth Fund 107.615 104,449 8,361 6,822 1,740 1,800 Restricted funds 492 4,988 TOTAL FUNDS The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: 2R/(,1101S C HoLLOWrtY - CHAilnAfv Page 8
Worcester Operatic And Dramatlc Soclety Notes to the Financial Statements 4for the Year Ended 31st December 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP IFRS1021 "Accounting and Reporting by Charities: Statement of Recommend Prartice 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 20191" and the Charities Act 2011. The financial Statements have been prepared under the historical cost convention, with the exceptlon of investments which are included at market value. as modified by the revaluation of certain assets. The accounts are prepared in sterling, which is the funrtional currency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The charity is exempt from preparing a statement of ca5hflow on the grounds that it is not a large charity. INCOME Income from grants (including government grant51 and donations is recognised on a performance basis in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income from charitable activities rnainly relates to ticket sales and this is recognised when the service is provided to the customer. Merchandise sales are recognised on exchange of goods. Income from trading artivities, including rents reived. 15 recognised on an accruals basis. Investment income is recognised when the relating investments issue notlce of distribution to its investors. Interest income is recognised for all interest bearing investments on an accrual bas1S. 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 Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committlng 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 ha sbeen classified under headings that aggegate all cost related to the category. Wher costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. CHARITABLE AcfiviTIES Costs of theatre productions and the costs of runnin8 the charity's premise5 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 - 2% on cost - 20% on cost 20% on cost Tangible fixed assets are included at cost less depreciation. Purchases are capitalised and depreciated when it can be demonstrated that the item retained a holding value at the financial year end, and the purchase price was greater than £5,000. TAXATION The charity is exempt from tax on its charitable activities. Page 9
Worcester Operatlc And Dramatic Society Notes to the Financial Statements- contlnued for the Year Ended 3tst December 2024 ACCOUNnNG POUCIES- continued FUND ACCOUNTING The charity maintains an Unrestrricted Fund for it5 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 Resricted Funds as determined by the terms of their donation and expenditures are charged accordingly against these funds. Further explanation of the nature and purpose of each ftjnd is included in the notes to the financial statements. INVESTMENTS Investments are included at market value at the balance sheet 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 "Basic FinancFal Instruments" and Section 12 '0ther Financial Instruments Issues" of FRS 102 to all its financial istruments. Financial instruments are recognised when the charity becomes party to contrartual provisions of the instrument. Financial assets are offset, with the net amounts presented in the accounts where there is legally enforceable right to set off the recognised amounts and there 15 an intention to settle on a net basis or to reali5e the asset and settle the liability simultaneously. Basic Financial Assets Basic financial assets which include trade and other recelvables and cash and bank balances, are inltially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, wher the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Basic Financial Liabtlities Basic financial liabilites, including trade and other payables, are initially recognised at transaction price unle55 the arrangement constitutes a financial transaction. where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instrument5 are subsequently carried at amorti5ed cost, using the effertive interest method. Page 10
Worcester Operatic And Dramatlc 5oclety Notes to the Financlal Statements- continued for the Year Ended 31st December 2024 DONATIONS AND LEGACIES 2024 Totsl Funds 2023 Total Funds Unrestricted Restritted Funds Funds Donation5 Gift Aid Grants Membership Subscriptions 2.666 1,178 2.666 1,178 2,784 7.910 2,188 1,244 2,799 7,247 2,784 7,910 GRANTS RECEIVED 2024 2023 Other grants 2.784 2,799 OTHER TRADING ACTIVITIES 2024 Total Funds 2023 Total Funds Unrestricted Restricted Funds Funds Car Park income Hire income Raffle Income Sale of refreshments Sale of promotional items 6,013 3,334 1,666 600 115 6013 3334 1,666 61x1 115 5,828 973 1,828 299 283 INVESTMENT INCOME 2024 Total Funds 2023 Total Funds Unrestricted Restricted Funds Funds Bank interest Dividends 297 772 297 772 267 822 INCOME FROM CHARITABLE ACTivrriES 2024 2023 Ticket Sales Programme Sales Programme Advertising Sale of Costumes Sale of Promotional Garments Sundry Income 100,979 2,612 3.175 88,409 3,223 2,650 360 990 70 1.466 140 Workshop and cabaret income 645 430 Page 11
Worcester Operatic And Dramatlc Society Notes to the Financlal Statements- continued for the Year Ended 31st December 2024 CHARABLE ACTIVITIES COSTS Direct Costs (see note 71 Support Costs (see note 81 Totals Productions Workshops and Cabaret 110,787 79 23,635 134.422 79 DIREcf COSTS OF CHARITABLE ACTivrriES 2024 6,463 7,758 550 1.572 20,766 5,524 19.772 13,698 2023 7,237 5,580 475 1,768 20,242 5.486 14,952 8,405 7,040 125 25.147 633 Advertising and promotion Costumes and make-up Director and choreographer fees Entertaining and gratuities Musician's fees and rehearsal materials Programme costs and photos Royalties Scenery and properties Sound and lighting Sundries Venue hire Workshop and cabaret 26,834 79 SUPPORT COSTS Governance Costs Management Other Totals ZZ,385 1,250 23,635 All support Costs have been allocated against production activities due to the minimal value attributable to workshop and cabaret activities. Unrestrltted Restritted Funds Funds 2024 Total Funds 2023 Cleaning, laundry and wardrobe Depreciation of tangible and heritage assets Donations Independent Examination Insurance Light, heat and water Membership expenses Postage and stationery Repairs to charity property Subscriptions Telephone 998 701 1,600 1,250 3,820 3,579 1,762 2,141 3,965 245 694 998 701 1,6(10 1,250 3,820 3,579 1.762 2,141 6,845 245 694 1709 701 1540 1140 3,633 3,431 1,068 1,452 9,228 255 536 2,880 Page 12
Worcester Operatlc And Dramatic Society Notes to the Flnan¢lal Statements- tontinued for the Year Ended 315t December 2024 TRUSTEES. REMUNERATION AND BENEFITS During the year ended 31 December 2024 two trustees rece¢ved honoraria totalling £400 in their capacities as production dirertor of one show each.12023- £3751 TRUSTEES, EXPENSES During the year ended 31 December 2024 no expenses were reimbursed to Trustees12023 . £1631 as permitted by the Charity's Governing Document. io. STAFF COSTS There were no staff costs for the year ended 31st December 2024 nor the year ended 31st December 2023. ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcrivrriES Unrestricted Restritted Funds Funds Total Funds INCOME AND ENDOWMENTS FROM Donations and legacies 10,679 2,799 13,478 Charitable artivities Productions Workshops and Cabaret 95,702 430 95,702 430 Other trading activities Investment income Other income 9.211 1,089 103 9.211 1,089 103 Total EXPENDITURE ON Raislng funds 239 239 Charitable activities Productions Workshops and Cabaret 116,291 633 4,859 121,150 633 Total Net galns on Investments 1,355 1,355 NEf INCOME RECONCILIATION OF FUNDS Total funds brought forward 111,665 7,048 118.713 TOTAL FUND5 CARRIED FORWARD Page 13
W0ester Operatic And Dramatlc Soclety Notes to the Flnanclal Statements- contlnued for the Year Ended 31st December 2024 12. TANGIBLE FIXED ASSErs Improvements Fixtures to and Property Fittings Freehold Property Totals C05r At 1st January 2024 and 31st December 2024 35,015 67,096 9,820 111,931 DEPRECIATION At 1st January 2024 Charge for Year 11.217 701 67,096 9.820 88,133 701 At 31st December 2024 NET BOOK VALUE At 31st December 2024 23,097 23,097 At 31st December 2023 23,798 23,798 13. FIXED ASSET INVESTMENTS Investment5 MARKET VALUE At 1st January 2024 Additions Disposals Revaluations 34,385 1,691 -846 2,066 At 31st December 2023 NET BOOK VALUE At 31st December 2024 37,296 At 31st December 2023 34,385 Page 14
Worcester Operatlc And Dramatic Society Notes to the Flnanclal Statements- continued for the Year Ended 31st Dernber 2024 14. DEBTORS: AMOUNTS FAWt4G DUE WITHIN ONE YEAR Unrestricted Restrirted Funds Fund5 2024 2023 Other debtors Prepayments and accrued income 1,985 11,374 1,985 12.766 1,050 15,261 1.392 15. CREDITORS.. AMOUWtS FALLING DUE WITHIN ONE YEAR 20Z4 2023 Deferred income Accrued expenses 2,329 2.145 2.171 2.377 Deferred income included within the above relates to income received in advance for car park rent, £2,07112023- £2,171> and program advertising, £IOO12023- £0) and sale of promotional clothing, £15812023- £01. 16. MOVEMENT IN FUNDS Net in funds Transfers funds At 1.1.24 31.12.24 Unrestrlcted funds General Fund WODS Youth Section Armstrong Youth Fund 104,449 6,822 1,800 3,146 1,559 -60 20 107,615 -20 8,361 1,740 Restrirted fund Upkeep of Building Fund 4.988 4,988 -96 4,892 TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming Resources Galns and Movement resources Expended losses in funds Unrestricted funds General Fund WOD5 Youth Section Armstrong Youth Fund 98,367 -97,287 35,970 -34.411 -60 2,066 3,146 1,559 -60 Restricted fund Upkeep of Building Fund 2,784 -2,880 -96 TOTAL FUNDS 137,121 -134.63 ,066 Page 15
Worcester Operatlc And Dramatic Society Notes to the Financlal Statements- continued for the Year Ended 31st December 2024 16. MOVEMENT IN FUNDS- contlnued Comparatives for movement in funds Net Transfers movement between in funds funds At 1.1.23 At 31.12.23 Unrestrlcted funds General Fund WODS Youth Section Armstrong Youth Fund 94,609 15,216 1,840 -2,160 3,606 40 12,000 -12,000 104,449 6,822 1,800 Restrlcted funds Instrument Fund WODYS Benefit Fund Upkeep of Building Fund 2,000 48 5,000 -2,000 -48 -12 4,988 TOTAL FUNDS Comparative net movement in funds, included in the above are asfollows: Incoming Resources Gains and Movement resources Expended losse5 in funds Unrestrlrted funds General Fund WODS Youth Sertion Armstrong Youth Fund 82,161 -85,676 35,052 -31,446 -40 1,355 -2,160 3,606 -40 Restricted funds Instrument Fund WODYS Benefit Fund Upkeep of Building Fund 1,199 -3,199 -48 -1,612 -2,000 -48 -12 1,600 TOTAL FUNDS -12 -654 17. RELATED PARTY DISCLOSURES During the year ended 31 December 2024 the Charity received Graphic Design and Advertising services from a business owned and operated by a Trustee of the Charity amounting to £11,447 {2023- £10,027). 18. PURPOSE OF FUNDS UNRESTRICTED FUNDS General Fund The unrestricted general fund can be used for any charitsble purpose within the charity's objetts and approved bv the Trustees. It is largely held to provide for the future development of the Charity. WODS Youth Sertion Fund This fund is held to provide for the future development of the Youth Section of the Charity. Armstrong Youth Fund This fund is held to supportthe education. trainin& and development of theatre skillsfor society members who are underthe age of 18. Page 16
Worcester Operntk And Dramati¢ Society Notes to the Flnancial Statements- contlnued for the Year Ended 31st Dember 2024 PURPOSE OF FUNDS- continued RESTRicfED FUNDS Upkeep of Bulldlng Fund This fund is restricted to cover costs of significant repairs to the building. A contract was entered into during November 2024 wlth Memorials of Worcester Limtted for exterior stoneworks repairs to St. Mary's Hall. The contract, to be completed during 2025, has a value of £2,784 and will be met from this fund. Page 17