# INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

# FINANCIAL STATEMENTS 

# FOR THE YEAR FROM 1 JANUARY 2020 TO 31 DECEMBER 2020 



## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## FINANCIAL STATEMENTS 

## 31 DECEMBER 2020 

## CONTENTS 

|Charity reference& administrative details|3|
|---|---|
|Trustees” annual report|4-5|
|Independent examiner's report|6|
|Statementoffinancial activities|7|
|Balance sheet|8|
|Notestothefinancialstatements|9-12|



## Registered charity number: 1103178 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## CHARITY REFERENCE AND ADMINISTRATIVE DETAILS 

## Reference and administrative information 

## Charity name: 

## International Gilbert and Sullivan Association 

Charity registration number: 

1103178 

Registered office and operational address: 

The Old Vicarage All Souls Road Haley Hill Halifax HX3 6DR 

## Trustees/Executive committee 

N Smith (Chairman from |4 August 2020) P Barton 

Heather Fitzgerald B Lockett Mrs J L Smith (Secretary) Susan Overvoorde Gert Venghaus 

## Independent examiner 

AcCounting Sheep Limited Reservoir House Ogden Water Halifax HX2 8YA 

## Bankers 

Lloyds Bank ple Commercial Street Halifax HX1 1BB 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## TRUSTEES’ ANNUAL REPORT 

The trustees present their report and the financial statements of the charity for the year ended 31 December 2019. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reportby Charit **i** es”ng(FRS 102) in preparithe an **n** ualg reportand financial statementsof the charity. 

## Trustees 

The trustees who have served during the year and since the year end were as follows: 


**----- Start of picture text -----**<br>
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|N Smith|(Chairman|from|14 August 2020)|
|P|Barton|
|Heather|Fitzgerald|
|B|Lockett|
|Mrs|J|L|Smith|(Secretary)|
|Susan|Overvoorde|
|Gert|Venghaus|
|All|of|the|trustees|served|upon|the|Executive|Committee|during|the year.|

**----- End of picture text -----**<br>


## Statementof trustees’ responsibilities 

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Thefinanciallaw applicableyear whichtogivecharitiesa true inandEnglandfair viewandofWalesthe staterequiresof affairsthe trusteesof the charityto prepareand financialof the incomingstatementsresourcesfor eachand application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

* Select suitable accounting policies and then apply them consistently 

* Observe the methods and principles in the Charities SORP 2015 (FRS 2015); 

* State whether applicable accounting standards have been followed, subject to any material departures disclosed and explainedin the financial statements; * Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continuein operation. The trustees are responsible for keeping accounting records that disclose with reasonableaccuracy at any timethe Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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## Structure, governance and management 

The charity is registered as a charity with the Charity Commission. The affairs of the charity are governed by its constitution which was adopted on 24 March 2004. All major decisions concerning the charity are made by the executive committee. 

The principal activity of the charity is to advance the education of the public in general and young people in particular, about the works of W S Gilbert & A Sullivan and to raise funds to support the annual International Gilbert & Sullivan Festival. 

## Review of activities and achievements 

2020 was a very challenging year following the cancellation of the 27" International Gilbert & Sullivan Festival and all other related events due to[COVID-19.] The Trustees and the Festival team remained focussed on raising funds to help secure the future of the Festival through to 2021 when it was expected that the event would be able to take place. The Trustees are very grateful for 

## Financial review 

The attached accounts show the results for the period with a surplus of income over expenditure of £20,567 (period ended3] December 2019 (£2,281 )) 

## Reserves 

During the year the trustees have considered in line with Charity Commission guidelines, what the reserve Therequirementscharity hasof thea set charitypolicy are.which reflects the wish to maintain and develop its programme of services. In this regard, the trustees consider that reserves of £3,000 are sufficient for the charity’s requirements. 

## Risk management 

The trustees have reviewed the major risks to which the charity is exposed and consider suitable systems are in place 

This report was approved by the trustees on 10] 06] Zo24 and signed on their behalf by: 

JANET SMITH Trustee 

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## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

I report to the charity trustees on my examination of the accounts for the charity for the period ended 3] December 2020 which are set out on pages 5 to 11. 

## Responsibilitiesand basis of report 

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the CharitiesAct 2011 (the Act’). 

| report in respect of my examination of the charity’s accounts carned out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## Independent examiner's statement 

I have completed my examination. | 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: 

1. Accounting records were not kept in respect of the charity 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 concerning the form and content of 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. 

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached 

SARAH CARTER AfilCB For and on behalfof: AcCounting Sheep Limited 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## STATEMENT OF FINANCIAL ACTIVITES 

## For the year ended 31 December 2020 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|Total|funds|Total|funds|
|Year ended|Year ended|
|31|December|31|December|
|2020|2019|
|£|£|
|Notes|
|INCOMING RESOURCES|
|2|Donations|37,690|18,879|
|3|Subscription|income|21,281|19.405|
|4|Fundraising|activities|6,793|1,112|
|5|Sponsorship income|.|-|
|6|Gift Aid|13,653|_|6,935|
|Total|incoming resources|79,417|46331|
|RESOURCES EXPENDED|
|7|Activities|in furtherance of|the charity’s objects|58,089|42,938|
|Accountancy|fees|350|350|
|General expenses|234|4,566|
|Interest and charges|177|758|
|Total|resources expended|58,850|48,612|
|Net income for the year|20,567|(2,281)|
|Total|funds brought|forward|10,094|whdadle|
|12|Total funds carried|forward|30,661|10,094|

**----- End of picture text -----**<br>


The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. 

The notes on pages 8 to 12 form partof these financial statements. 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## BALANCE SHEET 

31 December 2020 

|||2020|2019|
|---|---|---|---|
|||£|£|
|Notes||||
||Fixed assets|||
|9|Tangible assets|-|.|
||Current assets|||
|lec per<br>Cash at bank||3,477<br>ye|6,935<br>ee|
|||31,011|10.444|
|11|Creditors: amounts fallingduewithin oneyear|(350)|(350)|
||Netcurrent assets|30,661|10,094|
||Netassets|30,661|10,094|
||Funds|||
|12|Unrestrictedfunds|30,661|10,094|



The financial statements were approved by the trustees on \0[o€/t021 and signed on their behalf by: 


**----- Start of picture text -----**<br>
)<br>J _<br>JANEToust SMITHvl Z<br>Trustee<br>**----- End of picture text -----**<br>


The notes on pages 8 to 12 form part of these accounts. 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## NOTES TO THE FINANCIAL STATEMENTS 

## 31 December 2020 

## 1 Accounting policies 

a) General information and basis of preparation 

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 ofIreland (FRS 102) issues on 16 July 2014 (as updated through Update Bulleting | published on 2 February 2016), the financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. 

The financial statementsare prepared on a going concern basis under the historical cost 

convention. 

The financial statements are presented in sterling which is the functional currency of the charity. 

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

## b) Fund accounting 

Unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

Restricted funds are funds which are used for a particular purpose as required by the funding bodyor donor or which have been raised by the charity for particular purposes. 

## c) Incoming recognition 

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: 

- Income received by way of donations and sponsorship is included in incoming resources when notified and the amount is known. 

- * calculated.The financial value to the charity of volunteers in the day to day runningis not e Bank and other deposit interest are credited to the accounts on an accruals basis. 

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- e Incoming resources from grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to a grant. 

## d) Resources expended 

Expenditure is recognised on an accrual basis as a liability is incurred. The charity is not registered for VAT and accordingly expenditure is shown gross off irrecoverable VAT; 

- e Costs of activities in furtherance of the objects of the charity are those incurred by the charity in the delivery of its activities and services for its beneficiaries. 

- « Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. 

- # Management and admmistration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 

## e) Tangible fixed assets 

Tangible fixed assets are included at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. 

Depreciation is provided at the following rates in order to write off the assets over their estimated useful lives. In the year of acquisition tangible assets were depreciated from | January. 

Fixtures, fittings and equipment 

- 10% on a straight line basis 

- f) Taxation 

As a registered charity, the charity is generally exempt from corporation tax but not from VAT. 

## g) Financial instruments 

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 

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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (continued) 

## 31 December 2020 

|2|Donations|2020|2019|
|---|---|---|---|
||Unrestricteddonations|37,690|18,879|
|3|Subscription income|||
||Membershipincome|21,281|19,405|
|4|Fundraisingactivities|||
||Fundraising|6,793|1,112|
|5|Sponsorship income|||
||Sponsorship|~||
||||“|
|6|Otherincoming resources|||
||Taxreclaimable|13,653|6,935|
|7|Costsofactivitiesinfurtheranceoftheobjectsofthecharity|||
||Donations|58,089|42,938|
|8|Managementand administration|||
||Accountancy fees<br>General expenses<br>Interestandcharges|350<br>234<br>ee si|350<br>4,566<br>__758|
|||761|5,674|



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## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## NOTES TO THE FINANCIAL STATEMENTS (continued) 31 December 2020 

## 9 Tangible fixed assets 

||||Fixtures,||||
|---|---|---|---|---|---|---|
||||Fittings and||||
||||Equipment|Total|||
||||£||£||
||Cost:||||||
||As at | January 2020and31 December2020||1,095|1,095|||
||Depreciation:||||||
||As at | January2020and31 December2020||1,095|1,095|||
||Net book value:||||||
||As at 31 December 2020||-||-||
||Asat31December2019||-||:||
|10|Debtors||||||
||||2020|2019|||
||||£||£||
||GiftAiddue||3,477|6,935|||
||||-|6,935|||
|11|Creditors: amountsfallingduewithin|within oneyear|||||
||Other creditors||-||-||
||Accruals||350|350|||
||||350|350|||
|12|Unrestricted funds||Incoming|Outgoing|||
|||At I Jan|resources|resources|31|Dec|
|||2020|forthe year|fortheyear|2020||
||Membershipand general||||||
||unrestricted fund|10,094|79,417|58,850|30,661||
|||||||12|





## INTERNATIONAL GILBERT AND SULLIVAN ASSOCIATION 

## NOTES TO THE FINANCIAL STATEMENTS (continued) 

## 31 December 2020 

## 13 Transactions with trustees and connected persons 

No trustees or connected person received any remuneration or were reimbursed for expenses either directly or indirectly of the current or the preceding year. 

|14|Analysisofnetassetsbetweenfunds|2020|2020||2019|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||Funds|Funds|Funds|Funds|
|||£|£|£|£|
||Tangible fixed assets|-|-|.|-|
||Current assets|31,011|-|31,011|10,444|
||Currentliabilities|(350)|-|(350)|_(350)|



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