2024-12-31-accounts - North Staffs Operatic Society Ltd

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North Staffs Operatic Society Ltd

Charity No. 1118404

Company No. 05904833

Trustees' Report and Unaudited Accounts

31 December 2024

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	16
Detailed Statement of Financial Activities	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 2024.

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.

During 2024, the Charity's main activity was a production of Sister Acts. Looking forward, the Charity has continued to work on preparatory activities which will enable it to deliver a new production of Everybody's Talking About Jamie in 2025. 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 continued its long history of contributing to the artistic and cultural life of North Staffordshire during 2024. With our first performance dating back to 1893, 2024 has represented the 131st year of supporting our community.

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 2025, the Charity intends to make a presentation of Everybody's Talking About Jamie.

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

28 February 2025

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 2024.

Responsibilities and basis of report

As the charity's trustees of the company (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:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 28 February 2025

Page 4

North Staffs Operatic Society Ltd Statement of Financial Activities

for the year ended 31 December 2024

Unrestricted funds 2024 £ 27 32,121 4,690 -	Restricted funds 2024 £ - - - 45	Total funds 2024 £ 27 32,121 4,690 45	Total funds 2023 £ 2,296 31,423 7,602 31
36,838 - 33,581 7,415	45 - - -	36,883 - 33,581 7,415	41,352 361 32,646 7,451
40,996 -	- -	40,996 -	40,458 -
(4,158) -	45 -	(4,113) -	894 -
(4,158)	45	(4,113)	894
(4,158) 107,409	45 2,132	(4,113) 109,541	894 108,647
103,251	2,177	105,428	109,541

Page 5

North Staffs Operatic Society Ltd Summary Income and Expenditure Account

for the year ended 31 December 2024

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	2024 £ 36,838 45 36,883 40,005 991 40,996 (4,113) (4,113)	2023 £ 41,321 31
		41,352
		40,046 412
		40,458
		894
		894

Page 6

North Staffs Operatic Society Ltd Balance Sheet

at 31 December 2024

Company No. 05904833 Notes 2024 £ Fixed assets Tangible assets 13 4,753 4,753 Current assets Debtors 14 912 Cash at bank and in hand 100,604 101,516 Creditors:Amount falling due within one year 15 (841) Net current assets 100,675 Total assets less current liabilities 105,428 Net assets excluding pension asset or liability 105,428 Total net assets 105,428 The funds of the charity Restricted funds 16 Restricted income funds 2,177 2,177 Unrestricted funds 16 Designated funds 103,251 103,251 Reserves 16 Total funds 105,428	2023 £ 811
	811 2,313 106,817
	109,130 (400)
	108,730 109,541
	109,541
	109,541
	2,132
	2,132 107,409
	107,409
	109,541

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 2024 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 28 February 2025

And signed on its behalf by:

P. Morris Trustee

28 February 2025

Page 7

North Staffs Operatic Society Ltd Notes to the Accounts

for the year ended 31 December 2024

1 Accounting policies

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

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

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 8

North Staffs Operatic Society Ltd Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.

Other expenditure These are support costs not allocated to a particular activity.

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% straight line

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 9

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 10

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

Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Total Expenditure on: Raising funds Charitable activities 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 Donations	Unrestricted funds 2023 £ 2,296 31,423 7,602 - 41,321 361 32,646 7,451 40,458 863 863 863 106,546 107,409 Unrestricted £ 27 27	Restricted funds 2023 £ - - - 31 31 - - - - 31 31 31 2,101 2,132 Total 2024 £ 27 27	Total funds 2023 £ 2,296 31,423 7,602 31
			41,352 361 32,646 7,451
			40,458
			894
			894
			894 108,647
			109,541
			Total 2023 £ 2,296
			2,296

Page 11

North Staffs Operatic Society Ltd Notes to the Accounts

5 Income from charitable activities

Everybody's talking about Jamie Kinky Boots Workshop Sister Act 6 Income from other trading activities General Income Lotto 7 Income from investments Bank Interest 8 Expenditure on raising funds Costs of generating voluntary income Donations	Unrestricted £ 943 - 2,169 29,009 32,121 Unrestricted £ 4,545 145 4,690 Restricted £ 45 45	Total 2024 £ 943 - 2,169 29,009 32,121 Total 2024 £ 4,545 145 4,690 Total 2024 £ 45 45 Total 2024 £ - -	Total 2023 £ - 28,934 - 2,489
			31,423
			Total 2023 £ 7,375 227
			7,602
			Total 2023 £ 31
			31
			Total 2023 £ 361
			361

Page 12

North Staffs Operatic Society Ltd Notes to the Accounts

9 Expenditure on charitable activities

Expenditure on charitable activities Everybody's talking about Jamie Kinky Boots Workshop Sister Act Governance costs 10 Other expenditure Employee 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	Unrestricted £ 3,948 - 1,188 28,445 33,581 Unrestricted £ 1,915 3,723 991 386 400 7,415 2024 £ 991	Total 2024 £ 3,948 - 1,188 28,445 33,581 Total 2024 £ 1,915 3,723 991 386 400 7,415	Total 2023 £ - 30,059 - 2,587
			32,646
			Total 2023 £ 1,574 3,219 412 1,618 628
			7,451
			2023 £ 412

No employee received emoluments in excess of £60,000. All trustees are unpaid. Remuneration is generally only provided to Music Directors and Show Directors where they are brought in from outside the Charity.

Page 13

North Staffs Operatic Society Ltd Notes to the Accounts

13 Tangible fixed assets

Cost or revaluation At 1 January 2024 Additions At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charge for the year At 31 December 2024 Net book values At 31 December 2024 At 31 December 2023 14 Debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Trade creditors	2024 £ 912 912 2024 £ 841 841	Plant and Machinery £ 4,675 4,933 9,608 3,864 991 4,855 4,753 811	Total £ 4,675 4,933
			9,608
			3,864 991
			4,855
			4,753
			811
			2023 £ 2,313
			2,313
			2023 £ 400
			400

Page 14

North Staffs Operatic Society Ltd Notes to the Accounts

16 Movement in funds

	Resources expended £	At 31 December 2024 £ 2,177
Restricted funds: Restricted income funds: Dorothy Lawton Fund Total Unrestricted funds: Designated funds: General Fund Social Fund
	-
	- (6,632) (1,971) - (28,445) (3,948) (40,996) (40,996)
		2,177
		87,045 19,245 - (34) (3,005)
Kinky Boots
Sister Act Everybody's talking about Jamie Total Total funds
		103,251

		105,428

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. 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. Everybody's talking about for the management of the financial performance of each individual major Jamie production. At the end of each show's reporting period the funds are returned to the General Account.

Page 15

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 £ 4,753 98,498 103,251 At 1 January 2024 £	Restricted funds £ - 2,177 2,177 Cash flows £	Total £ 4,753 100,675
			105,428
			At 31 December 2024 £
	106,817	(6,213)	100,604
	106,817 106,817	(6,213) (6,213)	100,604
			100,604

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 16

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

for the year ended 31 December 2024

Income and endowments from: Donations and legacies Donations Charitable activities Everybody's talking about Jamie Kinky Boots Workshop Sister Act Other trading activities General Income Lotto Investments Bank Interest Total income and endowments Expenditure on: Costs of generating donations and legacies Donations Total of expenditure on raising funds Charitable activities Everybody's talking about Jamie Kinky Boots Workshop Sister Act Total of expenditure on charitable activities Employee costs Staff welfare Premises costs Rent Rates	Unrestricte d funds 2024 £ 27 27 943 - 2,169 29,009 32,121 4,545 145 4,690 - - 36,838 - - - 3,948 - 1,188 28,445 33,581 33,581 1,915 1,915 2,700 1,023	Restricted funds 2024 £ - - - - - - - - - - 45 45 45 - - - - - - - - - - - - -	Total funds 2024 £ 27 27 943 - 2,169 29,009 32,121 4,545 145 4,690 45 45 36,883 - - - 3,948 - 1,188 28,445 33,581 33,581 1,915 1,915 2,700 1,023	Total funds 2023 £ 2,296
				2,296
				- 28,934 - 2,489
				31,423
				7,375 227
				7,602
				31
				31
				41,352 361
				361
				361 - 30,059 - 2,587
				32,646
				32,646 1,574
				1,574
				1,969 701

Page 17

North Staffs Operatic Society Ltd Detailed Statement of Financial Activities

Premises cleaning Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Plant and Machinery Bank charges Equipment expensed General insurances Stationery and printing 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 (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	- - 3,723 991 118 - - - 230 38 1,377 400 - 400 7,415 40,996 - (4,158) (4,158) - (4,158) 107,409 103,251	- - - - - - - - - - - - - - - - - 45 45 - 45 2,132 2,177	- - 3,723 991 118 - - - 230 38 1,377 400 - 400 7,415 40,996 - (4,113) (4,113) - (4,113) 109,541 105,428	492 57
				3,219
				412 73 808 608 129 - -
				2,030
				400 228
				628

				7,451
				40,458 -
				894
				894 -
				894
				108,647
				109,541

Page 18