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2021-12-31-accounts

North Staffs Operatic Society Ltd Charity No. 1118404 Company No. 05904833 Trustees' Report and Unaudited Accounts 31 December 2021

North Staffs Operatic Society Ltd Contents

Pages
Trustees' Annual Report 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Summary Income and Expenditure Account 7
Balance Sheet
Notes to the Accounts
Detailed Statement of Financial Activities		 8
9 to 16
17 to 18

Page 1

North Staffs Operatic Society Ltd Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 05904833

Charity No. 1118404

Principal Office

41 Ramage Grove Lightwood Stoke-on-Trent Staffordshire ST3 4QZ

Registered Office

41 Ramage Grove Stoke-on-Trent Staffordshire ST3 4QZ

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

G. Brian J. Cronin M. Jones S.F. Lawton P. Morris V.E. Waddell

Company Secretary

S.F. Lawton

Key Management Personnel

Chair

President Secretary Treasurer Costume Designer Marketing Director

Mr P Morris

Mr M Jones Mrs S Lawson Mrs G Brian Mrs J Cronin Mr R Shepherd

Accountants

Dingle Lane Dingle Lane Farm

Page 2

North Staffs Operatic Society Ltd Trustees Annual Report

Dingle Lane Hilderstone Stone ST15 8SG

Bankers

HSBC Crown Bank Hanley Stoke-on-Trent Staffordshire ST1 1DA

OBJECTIVES AND ACTIVITIES

The purpose of the charity as set out in its governing document is the promotion of musicals, concerts, and other social activities.

The main activities undertaken in relation to those purposes during the year were the presentation of the musical "Priscilla, Queen of the Desert".

The production was delayed as a result of the COVID-19 epidemic. The trustees confirm that they have given due consideration to the Charity Commission's guidance on the public benefit requirement.

The charity relies significantly on the work of volunteers, both inits administration and in its productions. The use of professionally paid staff is limited as far as possible and generally includes the Musical Director.

FINANCIAL REVIEW

The charity has managed financially through the COVID-19 pandemic, assisted by a successful insurance claim and by various government support initiatives such as the Theatre Tax Relief. The trustees are delighted that the insurance policies underwrote the effects of the pandemic. However the policies have since been substantially rewritten to exclude pandemic related events.

Government grants and insurance claims regarding the impact of COVID-19 have substantially strengthened the charity's financial position.

The principal funding for the charity s through donations, legacies, and the sale of tickets to its performances. In addition we receive an amount of money from Lotto sources.

PLANS FOR FUTURE PERIODS

For 2023, the charity intends to undertake a presentation of the musical "Kinky Boots".

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is managed under its Articles of Association.

Members' meetings are held each year, and potential new Trustees are actively encouraged to become involved with the organisation and management of the Charity.

None of the Trustees or Directors receive remuneration for their roles in the Charity.

Page 3

North Staffs Operatic Society Ltd Trustees Annual Report

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of information included on the company's website.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

G. Brian Trustee 30 April 2022

Page 4

North Staffs Operatic Society Ltd Independent Examiners Report

Independent Examiner's Report to the trustees of North Staffs Operatic Society Ltd

I report to the charity trustees on my examination of the financial statements of North Staffs Operatic Society Ltd for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns 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 financial statements to be reached.

David Nicoll Independent Examiner Dingle Lane Dingle Lane Farm Dingle Lane Hilderstone Stone ST15 8SG 30 April 2022

Page 5

North Staffs Operatic Society Ltd Statement of Financial Activities

for the year ended 31 December 2021

for the year ended 31 December 2021 for the year ended 31 December 2021
Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Total
Expenditure on:
Charitable activities
7
Other
8
Total
Net gains on investments
Net income
9
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2021
£
4,383
1,927
22,831		 Restricted
funds
2021
£
-
-
-		 Total funds
2021
£
4,383
1,927
22,831		 Total funds
2020
£
46,201
10,881
25,684
7
8
ts
9
ds
er
s
s:
ward
ward
29,141
3,443
8,743		 -
-
-		 29,141
3,443
8,743		 82,766
25,490
11,693
12,186
-		 -
-		 12,186
-		 37,183
-
16,955
971		 -
(971)		 16,955
-		 45,583
-
17,926 (971) 16,955 45,583
17,926
91,333		 (971)
3,069		 16,955
94,402		 45,583
48,819
109,259 2,098 111,357 94,402

Page 6

North Staffs Operatic Society Ltd Summary Income and Expenditure Account

for the year ended 31 December 2021

Income
Gross income for the year
Expenditure
Total expenditure for the year
Net income before tax for the year
Net income for the year		 Income
Gross income for the year
Expenditure
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2021
£
29,141
29,141
12,186
12,186
16,955
16,955		 2020
£
82,766
82,766
37,183
he year
for the year
r		 12,186
16,955
16,955
37,183
45,583
45,583

Page 7

North Staffs Operatic Society Ltd Balance Sheet

at 31 December 2021

Company No.
05904833
Notes
2021
£
Fixed assets
Tangible assets
11
-
Current assets
Debtors
12
729
Cash at bank and in hand
111,476
112,205
Creditors:Amount falling due within one year
13
(848)
Net current assets
111,357
Total assets less current liabilities
111,357
Net assets excluding pension asset or liability
111,357
Total net assets
111,357
The funds of the charity
Restricted funds
14
Restricted income funds
2,098
2,098
Unrestricted funds
14
Designated funds
109,259
109,259
Reserves
14
Total funds
111,357		 2020
£
-
1,200
96,427
97,627
(3,225)
94,402
94,402
94,402
94,402
3,069
3,069
91,333
91,333
94,402

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 30 April 2022

And signed on its behalf by:

G. Brian Trustee 30 April 2022

Page 8

North Staffs Operatic Society Ltd Notes to the Accounts

for the year ended 31 December 2021

Basis of preparation

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 of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 9

North Staffs Operatic Society Ltd Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and Machinery 20%% reducing balance

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 10

North Staffs Operatic Society Ltd Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

Page 11

North Staffs Operatic Society Ltd Notes to the Accounts

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

3
Statement of Financial Activities - prior year		 3
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Other trading activities
Other
Total
Expenditure on:
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Legacies
Grants
Donations
5
Income from charitable activities
Priscilla, Queen of the Desert		 Unrestricted
funds
2020
£
46476		 Restricted
funds
2020
£
-
-
-
-
-
-
-
-
-
3,069
3,069
Total
2021
£
937
2,667
779
4,383
Total
2021
£
1,927
1,927		 Total funds
2020
£
46,476
16,850
19,440

ities
er
:
s
s:
ward
ward
tions and legacies		 ,
16,850
19,440
82,766
37,183
37,183
45,583
45,583
45,583
45,750
91,333
Unrestricted
£
937
2,667
779		 -
-
-
-		 82,766
37,183
- 37,183
- 45,583
- 45,583
-
3,069		 45,583
48,819
3,069 94,402
Total
2021
£
937
2,667
779		 Total
2020
£
35,947
8,321
1,933
4,383
Unrestricted
£
1,927
1,927
46,201
Total
2020
£
10,881
10,881

Page 12

North Staffs Operatic Society Ltd Notes to the Accounts

6
Income from other trading activities
General Income
Lotto
Show Abandonment
Insurance
Theatre Tax Relief		 6
Income from other trading activities
General Income
Lotto
Show Abandonment
Insurance
Theatre Tax Relief		 Unrestricted
£
4,406
214
-
18,211
22,831		 Total
2021
£
4,406
214
-
18,211
22,831		 Total
2021
£
4,406
214
-
18,211
22,831		 Total
2020
£
6,059
185
19,440
-
25,684
During the year, th e Charity received a small business grant from Stoke-on-Trent Council of £2667.
7
Expenditure on charitable activities
Expenditure on charitable
activities
Priscilla, Queen of the Desert
Governance costs
8
Other expenditure
Employee costs
Premises costs
General administrative costs
Legal and professional costs
9
Net income before transfers
This is stated after charging:
Independent Examiner's fee		 aritable activities
ritable
he Desert
tive costs
nal costs
transfers
charging:		 Unrestricted
£
3,443
3,443
Unrestricted
£
1,021
4,173
3,136
413
8,743
2021
£		 Total
2021
£
3,443		 Total
2020
£
25,490
3,443 25,490
Total
2021
£
1,021
4,173
3,136
413		 Total
2020
£
2,331
3,910
4,520
932
8,743 11,693
2020
£
432
400

10 Staff costs

No employee received emoluments in excess of £60,000. None of the directors/trustees were remunerated for their work.

Page 13

North Staffs Operatic Society Ltd Notes to the Accounts

11 Tangible fixed assets

Cost or revaluation
At 1 January 2021
At 31 December 2021
Depreciation and
impairment
At 1 January 2021
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020
12 Debtors
Trade debtors
Prepayments and accrued income
13 Creditors:
amounts falling due within one year
Trade creditors		 Cost or revaluation
At 1 January 2021
At 31 December 2021
Depreciation and
impairment
At 1 January 2021
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020
12 Debtors
Trade debtors
Prepayments and accrued income
13 Creditors:
amounts falling due within one year
Trade creditors		 Plant and
Machinery
£
-
-		 £
3,084
3,084
3,084
3,084
-
-		 Total
£
3,084
3,084
3,084
21
21
20
ccrued income
e within one year		 -
-
-
-
2021
£
155
574
729
2021
£
848
848		 3,084
3,084 3,084
- -
- -
2020
£
-
1,200
1,200
2020
£
3,225
3,225

Page 14

North Staffs Operatic Society Ltd Notes to the Accounts

14 Movement in funds

At 1 January
2021
3,069		 Incoming
resources
(including
other
gains/losses)
£
-		 Resources
expended
£		 Gross
transfers
£
(971)
(971)
971
-
-
971
-		 Gross
transfers
£
(971)
(971)
971
-
-
971
-		 At 31
December
2021
£
2,098
-
3,069
-
:
72,559
26,451
18,774
763
-
1,927
91,333
29,141
94,402
29,141
ictions in relation to the funds:		 -
(7,664)
(1,079)
(3,443)
(12,186)
(12,186)
(971) 2,098
92,317
18,458
(1,516)
971
-
-
971 109,259
- 111,357
nd
Grants for young people studying performing arts.
to manage general expenditure.
to enable reporting on the financial performance of each sho w.
ets between funds Unrestricted
funds
£
111,357		 Total
£
111,357
111,357 111,357
At 1 January
2021
£		 At 31
December
2021
£
96,427 15,049 111,476
96,427
96,427		 15,049
15,049		 111,476
111,476

Page 15

North Staffs Operatic Society Ltd Notes to the Accounts

17 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 16

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

for the year ended 31 December 2021

for the year ended 31 December 2021 for the year ended 31 December 2021
Income and endowments from:
Donations and legacies
Legacies
Grants
Donations
Charitable activities
Priscilla, Queen of the Desert
Other trading activities
General Income
Lotto
Show Abandonment Insurance
Theatre Tax Relief
Total income and endowments
Expenditure on:
Charitable activities
Priscilla, Queen of the Desert
Total of expenditure on charitable
activities
Employee costs
Staff welfare
Premises costs
Rent
Rates
Light, heat and power
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Plant and
Machinery
Bank charges
General insurances		 Unrestricte
d funds
2021
£
937
2,667
779		 Restricted
funds
2021
£
-
-
-		 Total funds
2021
£
937
2,667
779
4,383
1,927
1,927
4,406
214
-
18,211
22,831
29,141
3,443
3,443
3,443
1,021
1,021
2,785
1,133
155
100
4,173
-
20
2,642		 Total funds
2020
£
35,947
8,321
1,933
Desert

nsurance
wments
Desert
n charitable
r
 4,383
1,927
1,927
4,406
214
-
18,211
22,831
29,141
3,443
3,443
3,443
1,021
1,021
2,785
1,133
155		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,383 46,201
1,927 10,881
1,927 10,881
4,406
214
-
18,211		 6,059
185
19,440
-
22,831 25,684
29,141
3,443		 82,766
25,490
3,443 25,490
3,443
1,021		 25,490
2,331
1,021 2,331
2,785
1,133
155		 3,910
-
-
-
100
4,173
-
20
2,642		 -
-
-
-
-
3,910
-
-
-

Page 17

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

Software, IT support and related
costs
Subscriptions
Sundry expenses
Legal and professional costs
Audit/Independent examination
fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Software, IT support and related
costs
Subscriptions
Sundry expenses
Legal and professional costs
Audit/Independent examination
fees
Other legal and professional
costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income
Transfers between funds
Net income before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 200
72
202
3,136
400
13
413		 -
-
-
-
-
-
-		 200
72
202
3,136
400
13
413
8,743
12,186
-
16,955
-
16,955
-
16,955
94,402
111,357		 -
163
4,357
4,520
932
-
932
f other costs
ents
ds
er
s
s:
ward
ward		 8,743
12,186
-
16,955
971
17,926
-
17,926
91,333
109,259		 -
-
-
-
(971)
(971)
-
(971)
3,069
2,098
8,743 11,693
12,186
-		 37,183
-
16,955
-		 45,583
-
16,955
-		 45,583
-
16,955 45,583
94,402 48,819
111,357 94,402

Page 18