THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 COMPANY NO: 04919401 REGISTERED CHARITY NO: 1108951
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY (A company limited by guarantee} FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Contents Pages Lcgal anij IKdminitrtrative Information Report of the Directors and Trustees Independent Examinels Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-10 Appendix
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY (A company limited by guarantee) COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 Directors & Trustees.. Mr P pry (Chairman) Mrs M L Raymond (Treasurer) Miss S Morris Mrs J E Smith Mr J K Gordanifar (Resigned 21 Sepiember 2023) Ms A H G Pilcher Mr C J Fowler {Appointed 21 September 20231 Mr T Sharksmith (Appointed 21 September 2023) Secretary". Mrs J Smith Registered Office.. 88 Hill Village Road Four Oaks Sutton Coldfield West Midlands B75 5BE Charity Number. 1108951 Company Number: 04919401 Bankers: HSBC PI 67 The Parade Sutton Coldfield Wesl Midlands B72 IPU Independent Examiner.. Thomas Haslehurst FCA Haslehursts 88 Hill Village Road Four Oaks Sutton Coldfield West Midlands B75 5BE
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY IA company limited by guarantee) REPORT OF THE DIRECTORS AND TRUSTEES For the Year Ended 31 December 2023 The directors and trustees present their annual report and financial statements for the year ended 31 Decembp.r ?O?l Thp. directors and trustees have adopted the Provisions of the Statement of Recommendpd Prartir2 IqnPP} "Att.r.niinting And Reporting by Charities IFRS 102) in preparinq the annual report and financial statements of the charity. The Charity is a charitable Gornpany limited by guarantee, registered in England and Wales and was set up on 2 October 2003 and became a registered charity on 11 April 2005. GOVERNING DOCUMENT The Charity is controlled by its governing document, the Memorandum and Articles of Association and constitutes a limited company, limited by guarantee as defined by Ihe Companies Act 2006. ORGANISATIONAL STRUCTURE The trustees govern via the full board of trustees in accordance with the governing document. RISK REVIEW The trustees have conducted a review ofthe major risks to which the Charity is exposed and systems have been established to mitigate those risks. Other than as disclosed below, no significant external risks to funding have been identified. Internal risks are minimised by the personal involvement of the Irustees in all transactions of the company. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity. OBJECTS AND ACTIVITIES FOR PUBLIC BENEFIT Obj8Ctives and Aims Our aim is to promote, organise and produce musical shows, and lo encourage the multicultural communities of Birmingham and the West Midlands into the Arts, particularly those who are disadvantaged and have limited opportunities to take part in large scale amateur productions or seeing professional productions because of thé high price of professional companies, lickel prices. PUBLIC BENEFIT The Trustees confinn that they have paid due regard to the guidance given by the Charity Commission on public benefit and Gonfirm that the company's purpose is for public benefit. The Birmingham and Midland Operatic Society was established for the public benefit to promote, organise and produce musical, dramatic and associated works for the purpose of fostering and developing physical and mental recreation in the world of Theatre and the Arts. FINANCIAL REVIEW The net movement of funds of £19,278 (deficit) (2022. £9,647 (deficit)) has been transferred to reserves. Accumulated deficit carried forward at 31 December 2023 was {£23,939) (2022.. {£4,661)1.
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY IA company limited by guarantee) REPORT OF THE DIRECTORS AND TRUSTEES (continuod) For the Year Ended 31 December 2023 GOING CONCERN A deficit of £19,278 has been recorded in the financial statements and the charily has net liabilities of £23,939 at 31 DeGember 2023. The Charity plans to continue to raise funds in the forthcoming year through social events, a "Just Giving. page and other fund-raising efforts. Going concern is presumed in preparing the financial slalements based on the measures being taken above and the ongoing support of creditors, although there Can be no guarantee that such measures will be sufficient should creditors demand immediat& payment. RESERVES POLICY The directors and trustees would ideally like to maintain reserves at a level suffi'cient to cover the following yearfs running costs. Any additional surplus made would be used to subsidise the following years, performances, or where a deficit occurs this would reduce Ihe budgel availablè for the following performances. At 31 December 2023 the reserves were £23.939 in deficit. STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees (who are also directors of The Bimingham and Midlands Operatic Society for the purposes of company law) are responsible for preparing Ihe Trustees, Report and Ihe financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial slalements for each financial year. Under company law the trustees must not approve the finan¢ial statements unless they are satlsfied thal they give a true and fair view of the stale of affairs of the charilable company and of the incoming reSoUrS and application of resources, including the income and expenditure, of the charitable company for the year. 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 2019. make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and d8le¢tion of fraud and other irregularilies.
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY (A company limited by guarantee> REPORT OF THE DIRECTORS AND TRUSTEES Icontinued) For the Year Ended 31 December 2023 STATEMENT OF TRUSTEES RESPONSIBILITIES (continued In so far as *he triistp.eq are gwarp... there is no relevant information of which the charitable company's independent examiner is unaware.. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. APPROVAL This report was approved by the DirectorslTrustees on 4 September 2024 and signed on their behalf. MRS M L RAYMOND Director and Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY IA company limited by guarantee) 31 December 2023 I report to the charity trustees on my examination ofthe accounls ofthe company forthe year ended 31 Dember 2023 which are sel out on pages 6 to 10. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 A¢t and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried OLrt under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151(b) of the 2011 Act. Independent examiner'$ statement I have completed my examination. I confirm that no matters have come to my attention in connertion with the examination giving mè cause to believe that in any material respect.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records.. or the accoLJnls do not comply with the accounting requiremenls of section 396 of the 2006 Act other than any requirement that Ihe accounts give a 'lrue and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to ¢harities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS102)1. I have no COnrnS 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. Thomas Haslehurst FCA Institute of Chartered Accountants in England and Wales 88 Hill Village Road Four Oaks Sutton Coldfield West Midlands B75 5BE Date.'4 September 2024
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY {A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES For the Year Ended 31 December 2023 Unrestricted Funds Notes 2023 2022 Income and endowments from Donations and legacies Charitable activities Other income 9,878 81,086 483 1,150 48,074 164 TOTAL INCOME AND ENDOWMENTS 91,447 49,388 EXPENDITURE Char.'ta' ,e actiVltI2S 110.725 59,035 TOTAL EXPENDITURE 110,725 59,035 NET DEFICIT AND NET MOVEMENT IN FUNDS FOR THE YEAR (19.278) {9.647) Reconciliation of Funds Total Ideficitl I surplus brought fotward {4,661) 4,986 TOTAL DEFICIT CARRIED FORWARD {23,9391 14,661)
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY {A company limited by guarantee) BALANCE SHEET As at 31 December 2023 Registered Number 04919401 2023 2022 Note CURRENT ASSETS Debtors 5,379 1,020 5,379 1,020 CREDITORS: Amounls falling due within one year 29,318 5,681 NET CURRENT LIABILITIES (23,939) 14.661) TOTAL NET LIABILITIES 123,939} 14,661) FUNDS Unrestrided fund 10 123,9391 14,661) TOTAL DEFICIT 123,939) 14,661) For the year ending 31 December 2023, the company was entitled to exemption from audit under section 477 of the Companies A¢t 2006 relating to small companies. Directors, rèsponsibilities.. The members have not required Ihe company to obtain an audit of its accounts for the year in question in accordance with section 476.. The directors a¢knowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements were approved by the directors and the trustees on 4th September 2024. MRS M L RAYMOND Director and Trustee
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2023 ACCOUNTING POLICIES Summary of significant accounting policies GENERAL INFORMATION AND BASIS OF PREPARATION The Birmingham and Midland Operatic Society is company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to a sum nol exceeding £10 per member of the charity. The address of the registered office is given in the charity informalion on page 1 of these financial statements. The nature of the charity's operations and principal activities are to promote, organise and produ musical shows. 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 Reporr.rr.ended Practice applicable tn phari+jos preparing their announls in arcordqD.ce with INe Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) issued on 18 July 2014 (as updated through Update Bulletin 1 published on 2 February 20161, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and United Kingdom Generally Accepted Accounting Practice. The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cashflow statement on the grounds thal it is applying FRS 102 Section 1A. The financial statements are prepared on a going concern basis on the assumption that Ihe company's credrtors, in particular the company's bankers and trustees ¢ontinLte to support the company. 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. INCOME RECOGNITION Income received for productions is accounted for in the Statement of Financial Activities in the period in which the production is performed. Other income and interest received is brought to the credit af the Statement of Financial Activities when it is received by the Charity. EXPENDITURE AND IRRECOVERABLE VAT All expenditure is accounled for on an accrual basis and has been Classified under the headings that aggregate all costs related to the calegory. The Charity is not registered for VAT, therefore irrecoverable VAT is charged against the relevant costs.
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) For the Year Ended 31 December 2023 ACCOUNTING POLICIES {continued FUND ACCOUNTING Unless otherwise staled all funds belonging to and generated by the Charity are unrestricted in nature, and Can be expended by the trustees, for the furtherance of the objects of the charity, at their discretion. e. DEBTORS AND CREDITORS RECEIVABLE I PAYABLE WITHIN ONE YEAR Debtors and Greditors re1vable or payable within one year are recorded at transaction pri¢e. 2. INCOME FROM DONATIONS AND LEGACIES 2023 2022 Donations 9,878 1.150 CHARITABLE ACTIVITIES INCOME 2023 2022 Current year productions sponsorship Current year productions Subscriptions BMOS Ball 10,000 61,252 7,480 2,354 10,000 31,573 4,485 2,016 81,086 48,074 4. CHARITABLE ACTIVITIES COSTS Note 2023 2022 Current year productions Concert costs Insurance NODA sub5CriPtion Bank charges and interest Sundries Governance costs Donalions BMOS Ball Travel 105,008 54.232 461 760 72 206 275 1,734 198 1,097 711 209 330 1,966 216 1,630 571 110,725 59,035
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS Icontinuedl For the Year Ended 31 December 2023 GOVERNANCE COSTS 2023 2022 .4ccnLirytaD.r 1 7.74 DEBTORS 2023 2022 Prepayments and Accrued Incom8 5,379 1,020 7. CREDITORS: Amounts falling due within one year 2023 2022 Bank overdraft Accruals and Deferred Income 2,313 27,005 3,645 2,036 29,318 5,681 8. TRUSTEES, REMUNERATION AND EXPENSES The trustees did not re1ve remuneration. benefils or expenses during the year (2022.. £NILI. 9. TAXATION The company is a registered charity, therefore no provision for taxation is considered necessary. 10. FUND RECONCILIATION At 31.12.22 At 31.12.23 Income Expenditure General fund (4,661} 91,447 (110,725) (23,939) All funds are unrestricted and used in pursuan of the Charity's objectives. 11. ULTIMATE CONTROLLING PARTY There is no ultimate controlling party. 12. RELATED PARTIES The Charity has no related parties other Ihan ils direclors and trustees. 10
THE BIRMINGHAM AND MIDLAND OPERATIC SOCIETY {A company limited by guarantee) APPENDIX INCOME AND EXPENDITURE ON PRODUCTIONS For the Year Ended 31 December 2023 Note 2023 2022 Receipts Guys and Dolls tickets 9 to 5 the Musical Peter Pan Programme. T shirt and DVD sales Production sponsorship (Genting) 31,440 28,510 28,818 3,924 10,000 133 10,000 Total receipts for current year productions 71.252 41,573 Direct Costs Rent of Rehearsal Rooms Costumes Props and Scenery Lighting and Sound Sundry expenses Production Team Orchestra Stage Manager Royalties Printing. postage, artwork, posters and logo designs LiGenGe Programme and DVD costs 4.422 4,385 18,461 20,838 39 8,000 12,703 700 24,616 5.009 3,726 2,987 7,882 9,417 10 5,000 7,650 350 11,412 3,768 500 1,530 5,835 Total costs for current year productions 105.008 54,232 Net Deficit (33,756) 112,659) 11