BICESTER CHORAL & OPERATIC SOCIETY (BCOS)
Income & Expenditure Account Year to 31[st] December 2023
BICESTER CHORAL & OPERATIC SOCIETY (BCOS)
Income & Expenditure Account Year to 31[st] December 2023
| £ | £ | |
|---|---|---|
| Income | ||
| Subscriptions | 7,643 | |
| Ticket Sales | 13, 067 | |
| Sponsorship/Grants | 1,350 | |
| Advertising | 459 | |
| Sale of Merchandise | 134 | |
| Front of House | 3,530 | |
| Fundraising | 683 | |
| Gift Aid | 1,734 | |
| ______ | ||
| Total Income | 28,600 | |
| Expenditure | ||
| Music Director | 7,200 | |
| Accompanist | 1,724 | |
| Professionals Fees(includes soloists, orchestral players, sound | engineer) 2,350 | |
| Music Hire & Purchase | 1,802 | |
| Venue Hire | 3,912 | |
| Equipment & Repairs | 2,613 | |
| Properties & Sets(includes part costs of 2024 show) | 2,898 | |
| Front of House | 1,598 | |
| Promotional | 1,463 | |
| Costume, Hair, Makeup | 745 | |
| Insurance & Fees (includes deposit/rights for 2024 show) | 1,580 | |
| Gifts, Subsistence & Sundry items | 878 | |
| _____ | ||
| 28,763 | ||
| ______ | ||
| Net Loss | £(163) | |
| ===== |
BICESTER CHORAL & OPERATIC SOCIETY (BCOS) Registered No.1109779 ANNUAL REPORT for the year to 31[st] December 2023
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 membership subscriptions from 70 individuals across the year, including several new members. 2023 was the first year for a couple of years when events were not impacted by Covid.
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 2023. The Addams Family was performed over three nights in May to sell out houses. Analysing this year’s accounts will indicate a profit in excess of £2500. The true figure is £243 as some £2500 was paid out during 2022. Making a profit over 3 days, however small, on a production with costs of over £14K is an amazing achievement and thanks go to all who put in the effort to achieve this. In July the society presented a concert of the music of Lennon & McCartney. This event made a profit of £760. The third event, and fifth performance, Choral Jazz accompanied by a jazz trio, effectively broke even with a nominal loss of £4.
Fund-Raising: Give As You Live continued to generate income, generating £338 income this year. The society’s continued participation in the Cherwell Lottery generated £278 of additional income. The society benefited from a grant from Bicester Town Council of £750 towards the staged production, and £600 sponsorship from Bicester Village.
Bank Account: Overall, the year's activities resulted in a reduction in the Society's cash reserves of just £163 at year-end, the cash reserve at year-end being £11,763. Following the introduction of monthly service charges by HSBC in 2022 the society transferred its bank accounts to RBS partway through the year.
The Trustees are conscious that the society is not a profit/loss-making organisation. The society made planned-for purchases of assets/equipment totalling approx. £2500, which included additional lighting-kit (moving heads), cables, new mic packs/receivers, mic stands, glasses and storage. In addition, expenditure of approx. £1800 was made towards the 2024 stage show (£500 in relation to rights/hire, £714 in respect of the set hire, £380 in respect of props and £250 relating to promotional materials).
Trustees
Trustees are elected each year at the AGM. The elected trustees for 2023 were:
Ian Muddle, Chairman Elizabeth Stiff, Vice-Chairman Nikki Fine, Treasurer Emily Brown, Secretary
Executive Committee
Additional Executive Committee members for 2023 were: Caroline Graham Laura Hudson Alan Twigg Meg Tapp
Address
Bicester Choral & Operatic Society c/o Nikki Fine The Mole Hole Station Road Launton Oxon OX26 5DS
Bankers
(until 9[th] June) (w.e.f 1[st] May) HSBC RBS 1 Sheep Street Edinburgh St Adnrew Square Branch Bicester 36 St Andrew Square Oxon OX6 7JA Edinburgh EH2 2AD
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 2024.
The Society has no investments other than bank account balances and currently does not award grants.
Nikki Fine (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 2023, 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: 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: 29/01/2024