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2022-12-31-accounts

North Staffs Operatic Society Ltd

Charity No. 1118404

Company No. 05904833

Trustees' Report and Unaudited Accounts

31 December 2022

North Staffs Operatic Society Ltd Contents

Pages
Trustees' Annual Report 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Summary Income and Expenditure Account 6
Balance Sheet 7
Notes to the Accounts 8 to 15
Detailed Statement of Financial Activities 16 to 17

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 2022.

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 Lightwood 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

M. Jones

S.F. Lawton

P. Morris

R. Shepherd

V.E. Waddell

Company Secretary

S.F. Lawton

Key Management Personnel

Key Management Personnel
Chair P Morris
President M Jones
Secretary S Lawton
Treasurer G Brian
Marketing Director R Shepherd

Accountants

Dingle Lane Dingle Lane Farm

Page 2

North Staffs Operatic Society Ltd Trustees Annual Report

Dingle Lane Hilderstone Stone ST15 8SG

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 is the preparation and presentation of musical theatre productions.

With the impact of the COVID-19 pandemic severely limiting the Charity's ability to prepare and perform productions, the Charity was delighted to have successfully staged Priscilla, Queen of the Desert in 2022. Looking forward, the Charity has continued to work on preparatory activities which will enable it to deliver a new production of Kinky Boots in 2023. The Trustees confirm that they have given due consideration to the Charity Commission's guidance on the public benefit requirement.

ACHIEVEMENTS AND PERFORMANCE

The Charity is pleased to have resumed its purpose, which was of additional importance given the social deprivations and mental health impacts exposed by the lockdown on public gatherings.

FINANCIAL REVIEW

The principal funding for our activities continues to be the sale of tickets, programmes, and advertising for our major productions.

PLANS FOR FUTURE PERIODS

For 2023, the Charity intends to make a presentation of 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 the management of the Charity.

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

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 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

P. Morris Trustee

01 March 2023

Page 3

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 2022 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 Accountant Dingle Lane Dingle Lane Farm Dingle Lane Hilderstone Stone ST15 8SG 01 March 2023

Page 4

North Staffs Operatic Society Ltd Statement of Financial Activities

for the year ended 31 December 2022

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Other
8
Total
Expenditure on:
Charitable activities
9
Other
10
Total
Net gains on investments
Net (expenditure)/income
11
Transfers between funds
Net (expenditure)/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
2022
£
564
27,418
17,008
-
-		 Restricted
funds
2022
£
-
-
-
3
-		 Total funds
2022
£
564
27,418
17,008
3
-		 Total funds
2021
£
4,383
1,927
-
-
22,831
44,990
31,630
16,073		 3
-
-		 44,993
31,630
16,073		 29,141
3,443
8,743
47,703
-		 -
-		 47,703
-		 12,186
-
(2,713)
-		 3
-		 (2,710)
-		 16,955
-
(2,713) 3 (2,710) 16,955
(2,713)
109,259		 3
2,098		 (2,710)
111,357		 16,955
94,402
106,546 2,101 108,647 111,357

Page 5

North Staffs Operatic Society Ltd Summary Income and Expenditure Account

for the year ended 31 December 2022

Income
Interest and investment income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net (expenditure)/income before tax
for the year
Net (expenditure )/income for the year		 2022
£
44,990
3
44,993
47,335
368
47,703
(2,710)
(2,710)		 2021
£
29,141
-
29,141
12,186
-
12,186
16,955
16,955

Page 6

North Staffs Operatic Society Ltd Balance Sheet

at 31 December 2022

Company No.
05904833
Notes
2022
£
Fixed assets
Tangible assets
13
1,102
1,102
Current assets
Debtors
14
574
Cash at bank and in hand
107,386
107,960
Creditors:Amount falling due within one year
15
(415)
Net current assets
107,545
Total assets less current liabilities
108,647
Net assets excluding pension asset or liability
108,647
Total net assets
108,647
The funds of the charity
Restricted funds
16
Restricted income funds
2,101
2,101
Unrestricted funds
16
Designated funds
106,546
106,546
Reserves
16
Total funds
108,647		 2021
£
-
-
729
111,476
112,205
(848)
111,357
111,357
111,357
111,357
2,098
2,098
109,259
109,259
111,357

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 2022 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 01 March 2023

And signed on its behalf by:

P. Morris Trustee

01 March 2023

Page 7

North Staffs Operatic Society Ltd Notes to the Accounts

for the year ended 31 December 2022

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

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 8

North Staffs Operatic Society Ltd Notes to the Accounts

Expenditure

Taxation

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

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.

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.

Page 9

North Staffs Operatic Society Ltd Notes to the Accounts

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.

2 Company status

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

Page 10

North Staffs Operatic Society Ltd Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other
Total
Expenditure on:
Charitable activities
Other
Total
Net income
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
4
Income from donations and legacies
Legacies
Grants
Donations
5
Income from charitable activities
Priscilla, Queen of the Desert
Kinky Boots		 Unrestricted
funds
2021
£
4,383
1,927
22,831
29,141
3,443
8,743
12,186
16,955
971
17,926
17,926
91,333
109,259
Unrestricted
£
-
-
564
564
Unrestricted
£
23,763
3,655
27,418		 Restricted
funds
2021
£
-
-
-
-
-
-
-
-
(971)
(971)
(971)
3,069
2,098
Total
2022
£
-
-
564
564
Total
2022
£
23,763
3,655
27,418		 Total funds
2021
£
4,383
1,927
22,831
29,141
3,443
8,743
12,186
16,955
-
16,955
16,955
94,402
111,357
Total
2021
£
937
2,667
779
4,383
Total
2021
£
1,927
-
1,927

Page 11

North Staffs Operatic Society Ltd Notes to the Accounts

6 Income from other trading activities

General Income
Lotto
7
Income from investments
Bank Interest
8
Other income
9
Expenditure on charitable activities
Expenditure on charitable
activities
Priscilla, Queen of the Desert
Kinky Boots
Sister Act
Governance costs		 Unrestricted
£
16,807
201
17,008
Restricted
£
3
3
Unrestricted
£
28,124
3,006
500
31,630		 Total
2022
£
16,807
201
17,008
Total
2022
£
3
3
Total
2022
£
-
-
-
-		 Total
2021
£
-
-
-
Total
2021
£
-
-
Total
2021
£
4,406
214
18,211
22,831
Total
2022
£
28,124
3,006
500
31,630		 Total
2021
£
3,443
-
-
3,443

Page 12

North Staffs Operatic Society Ltd Notes to the Accounts

10 Other expenditure

Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
11 Net (expenditure)/income before transfers
This is stated after charging:
Depreciation of owned fixed assets
12 Staff costs
Salaries and wages
No employee received emoluments in excess of £60,000.
13 Tangible fixed assets
Cost or revaluation
At 1 January 2022
Additions
At 31 December 2022
Depreciation and
impairment
At 1 January 2022
Depreciation charge for the
year
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021
14 Debtors
Trade debtors
Prepayments and accrued income		 Unrestricted
£
6,462
90
3,898
368
4,442
813
16,073
2022
£
368
2022
200
200
2022
£
-
574
574		 Total
2022
£
6,462
90
3,898
368
4,442
813
16,073
£
3,084
1,470
4,554
3,084
368
3,452
1,102
-		 Total
2021
£
1,021
-
4,173
-
3,136
413
8,743
2021
£
-
2021
-
-
£
3,084
1,470
4,554
3,084
368
3,452
1,102
-
2021
£
155
574
729

Page 13

North Staffs Operatic Society Ltd Notes to the Accounts

15 Creditors:

amounts falling due within one year

Trade creditors
16 Movement in funds		 At 1 January
2022
2,098
2,098
92,317
18,458
(1,516)
-
-
109,259
111,357		 Incoming
resources
(including
other
gains/losses)
£
3
3
10,700
6,872
23,763
3,655
-
44,990
44,993		 2022
£
415
415
Resources
expended
£		 Gross
transfers
£
-
-
824
(824)
-
-
-
-
-		 2021
£
848
848
At 31
December
2022
£
2,101
Restricted funds:
Restricted income funds:
Dorothy Lawton Fund
Total
Unrestricted funds:
Designated funds:
General Fund
Social Fund
Priscilla, Queen of the Desert
-
-
(10,703)
(5,370)
(28,124)
(3,006)
(500)
(47,703)
(47,703)
2,101
93,138
19,136
(5,877)
649
(500)
Kinky Boots
Sister Act
Total
Total funds
106,546
108,647
Purposes and restrictions in relation to the funds: Purposes and restrictions in relation to the funds:
Restricted funds:
Dorothy Lawton Fund
Designated funds:
General Fund for the management of the general unrestricted funds of the Charity.
Social Fund for the management of the Charity's social and community activities.
Priscilla, Queen of the Desert for the management of the financial performance of each individual major
production. At the end of each show's reporting period the funds are
returned to the General Account.
Kinky Boots for the management of the financial performance of each individual major
production. At the end of each show's reporting period the funds are
returned to the General Account.
Sister Act for the management of the financial performance of each individual major
production. At the end of each show's reporting period the funds are
returned to the General Account.

Page 14

North Staffs Operatic Society Ltd Notes to the Accounts

17 Analysis of net assets between funds

17 Analysis of net assets between funds
Fixed assets
Net current assets
18 Reconciliation of net debt
Cash and cash equivalents
Net debt		 Unrestricted
funds
£
1,102
105,444
106,546
At 1 January
2022
£		 Restricted
funds
£
-
2,101
2,101
Cash flows
£		 Total
£
1,102
107,545
108,647
At 31
December
2022
£
111,476 (4,090) 107,386
111,476
111,476		 (4,090)
(4,090)		 107,386
107,386

19 Related party disclosures

Controlling party

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

Page 15

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

for the year ended 31 December 2022

Income and endowments from:
Donations and legacies
Legacies
Grants
Donations
Charitable activities
Priscilla, Queen of the Desert
Kinky Boots
Other trading activities
General Income
Lotto
Investments
Bank Interest
Other
Total income and endowments
Expenditure on:
Charitable activities
Priscilla, Queen of the Desert
Kinky Boots
Sister Act
Total of expenditure on charitable
activities
Employee costs
Salaries/wages
Staff welfare
Motor and travel costs
Vehicles - Leasing and hire costs
Premises costs		 Unrestricte
d funds
2022
£
-
-
564
564
23,763
3,655
27,418
16,807
201
17,008
-
-
-
-
-
-
44,990
28,124
3,006
500
31,630
31,630
200
6,262
6,462
90
90		 Restricted
funds
2022
£
-
-
-
-
-
-
-
-
-
-
3
3
-
-
-
-
3
-
-
-
-
-
-
-
-
-
-		 Total funds
2022
£
-
-
564
564
23,763
3,655
27,418
16,807
201
17,008
3
3
-
-
-
-
44,993
28,124
3,006
500
31,630
31,630
200
6,262
6,462
90
90		 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
-
-

Page 16

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

Rent
Rates
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of
Bank charges
General insurances
Information and publications
Software, IT support and related
costs
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband
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 (expenditure)/income
Net (expenditure)/income before
other gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2,625
1,178
-
25
70
3,898
368
137
1,246
6
440
564
-
1,999
50
4,810
400
413
813
16,073
47,703
-
(2,713)
(2,713)
-
(2,713)
109,259
106,546		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3
3
-
3
2,098
2,101		 2,625
1,178
-
25
70
3,898
368
137
1,246
6
440
564
-
1,999
50
4,810
400
413
813
16,073
47,703
-
(2,710)
(2,710)
-
(2,710)
111,357
108,647		 2,785
1,133
155
-
100
4,173
-
20
2,642
-
200
-
72
202
-
3,136
400
13
413
8,743
12,186
-
16,955
16,955
-
16,955
94,402
111,357

Page 17