BICESTER CHORAL & OPERATIC SOCIETY (BCOS)
Income & Expenditure Account Year to 31[st] December 2022
BICESTER CHORAL & OPERATIC SOCIETY (BCOS)
Income & Expenditure Account Year to 31[st] December 2022
| £ | £ | |
|---|---|---|
| Income | ||
| Subscriptions | 8,437 | |
| Ticket Sales | 10, 811 | |
| Sponsorship/Grants | 2,121 | |
| Advertising | 670 | |
| Sale of Merchandise | 787 | |
| Front of House | 3,125 | |
| Fundraising inc Hire | 646 | |
| Gift Aid | 2,044 | |
| ______ | ||
| Total Income | 28,644 | |
| Expenditure | ||
| Music Director | 7,185 | |
| Accompanist | 1,600 | |
| Professionals Fees(includes soloists, orchestral players, show director) 6,724 | ||
| Music Hire & Purchase | 1,453 | |
| Venue Hire | 3,253 | |
| Equipment & Repairs | 509 | |
| Properties & Sets(includes part costs of 2023 show) | 2,605 | |
| Front of House | 1,238 | |
| Promotions | 2,003 | |
| Merchandise | 549 | |
| Costume, Hair, Makeup | 652 | |
| Insurance & Fees | 687 | |
| Gifts, Subsistence & Sundry items | 489 | |
| _____ | ||
| 28,950 | ||
| ______ | ||
| Net Loss | £(306) | |
| ===== |
BICESTER CHORAL & OPERATIC SOCIETY (BCOS) Registered No.1109779 ANNUAL REPORT for the year to 31[st] December 2022
The Charity is governed by a constitution adopted by an Extraordinary General Meeting held on 16 March 2005.
The objects of the Society are to educate the public in the choral, orchestral, dramatic and operatic arts, and to further the development of public appreciation and taste in the said arts.
Activities and Achievements
General: The Society had 68 membership subscriptions across the year, including several new members. Despite the ongoing challenges of Covid at the start of the year, the society managed to meet to rehearse and present public performances.
Productions: The Trustees are mindful of their duty to ensure that the charity's activities exist for the public benefit. They have considered Charity Commission guidance and are satisfied that the performance aims and achievements of the charity during the year, as outlined below, are consistent with this duty.
The society presented five public performances in 2022. Originally scheduled for 2021, pushed out by a year due to the pandemic, Little Shop of Horrors was performed over three nights in June. This year’s accounts show a small loss on the production of just £98. The true loss figure is £1021 as some £923 was paid out during 2021. Given the costs of the production of over £13K, the ongoing audience uncertainty about Covid, the clash with the Royal Jubilee bank holiday weekend, and the additional cost of £1500 for professional director, this loss was deemed less than anticipated. In October the society presented a concert of the music of Vivaldi , supported by full orchestra. This event made a small loss of £182. Concerts of this nature have significant costs to cover in one performance (orchestra costs of ~£1000), and historically losses on orchestral events have been significantly higher. The third event, and fifth performance, was Sleigh Bells Ring , delayed from last year due to Covid, making a profit of £996, after selling out in just five hours.
Fund-Raising: Give As You Live continued to generate income generating £279 income this year. Amazon Smile generated £81. The society’s continued participation in the Cherwell Lottery generated £281 of additional income. The society benefited from a grant from Bicester Town Council of £750 towards the staged production.
Overall, the year's activities resulted in a reduction in the Society's cash reserves of just £306 at yearend, the cash reserve at year-end being £11,763.
The Trustees are conscious that the society is not a profit/loss-making organisation. The society made planned for purchases of additional lighting kit, cables and new mics totalling approx. £500, as well as almost £2600 towards next year’s show (£1335 in relation to rights/hire, £861 in respect of the set hire, and £400 relating to promotional materials).
Trustees
Trustees are elected each year at the AGM. The elected trustees for 2022 were: Ian Muddle, Chairman Elizabeth Stiff, Vice-Chairman Caroline Graham, Treasurer Nikki Fine, Secretary
Executive Committee
Additional Executive Committee members for 2022 were: Emily Brown Jan Hartley (stepped down mid-year) Laura Hudson Alan Twigg Meg Tapp (co-opted mid-year)
Address
Bicester Choral & Operatic Society c/o Caroline Graham 8 Violet Close Ambrosden Bicester Oxon OX25 2DJ
Bankers
HSBC 1 Sheep Street Bicester Oxon OX6 7JA
Policy on Reserves
The Trustees have adopted a policy of maintaining a financial Reserve to ensure the Society does not become insolvent as a consequence of income in any year falling significantly below expenditure. In years when the Reserve exceeds the target figure the Society will be able to consider staging more adventurous works or using more expensive techniques and equipment which might be more likely to result in a loss, but which might be more artistically justified. In years when the Reserve falls below the target figure greater consideration will be given to conserving funds in order to increase the Reserve. The target figure for the Reserve has been set at £8,500 for 2023
The Society has no investments other than bank account balances and currently does not award grants.
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Caroline Graham (BCOS Treasurer)
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF BICESTER CHORAL AND OPERATIC SOCIETY
I report on the profit and loss account of the society for the year ended 31 December 2022, which are attached hereto.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the general Directions given by the commission under section 145(5)(b) of the 2011 Act
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the records and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiners’ statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act and
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to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
A P Jeffrey (ACA), 6 New Road, Shotteswell, Banbury, OX17 1HT Date: