## **Trustees' Annual Report for the period** **----- Start of picture text -----**
Period start date Period end date
Day Month Year Day Month Year
From 01 04 2021 To 31 03 2022
**----- End of picture text -----**
Section A Reference and administration details **Charity name The Leatherhead Operatic Society CIO** **Other names charity is known by LOS, Leatherhead Musical Theatre** **Registered charity number (if any) 1153904** **Charity's principal address Redlands Mount** **Redlands, Holmwood, Dorking** **Surrey Postcode RH5 4LE** **Names of the charity trustees who manage the charity** **----- Start of picture text -----**
Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
Robert Jordan Chairman of Appointed by trustee body
Trustees
Philippa Stone Treasurer Appointed 18-Jan-22 Ex Officio Treasurer of the
Society
Richard Coveney Chairman of the Ex Officio Chairman of the
Society Society
Laura Barnes Secretary Appointed 01-Dec-21 Appointed by trustee body
Ian Watson Trustee Resigned 22.8.2021 Appointed by trustee body
Miranda Harris Trustee Appointed 14-Feb-22 Appointed by trustee body
Louise Wilson Trustee Appointed by trustee body
**----- End of picture text -----**
**Names of the trustees for the charity, if any, (for example, any custodian trustees)** **Name Dates acted if not for whole year** ## **Names and addresses of advisers (Optional information)** 1 Internal Use - Confidential **Type of adviser Name Address** ## **Name of chief executive or names of senior staff members (Optional information)** ## **Section B Structure, governance and management** |**Section B Structure, governance and management**|**Section B Structure, governance and management**| |---|---| |**Description of the charity’s trusts**|| |Type of governing document|Constitution of the CIO adopted on 5 May 2015 and effective as of
registration on 4 June 2015| |How the charity is constituted|A Charitable Incorporated Organisation (CIO) established on the
Foundation model whereby the Trustees are the only Members.| |Trustee selection methods|The elected Chairman and Treasurer of the Society are ex officio trustees
plus up to four other trustees appointed by the body of trustees.| |**Additional governance issues (Optional information)**|| |You**may choose**to include
additional information, where
relevant, about:|Arrangements are in place to provide a personal briefing to any newly
appointed trustees and to provide them with a pack of information about
the duties of a charity trustee (if the appointee is not already experienced)
and about the CIO, its constitution, aims and activities.| |policies and procedures
adopted for the induction and
training of trustees;
the charity’s organisational
structure and any wider
network with which the charity
works;|The Trustees have established a set of ‘Membership Rules’ to create a
class of associate membership that has certain rights to meet to elect a
Management Committee (under the supervision of the Trustees) and to
decide on certain matters concerning the administration of rehearsals and
performances. The Chairman and Treasurer, subject to their suitability and
acceptance of the associated duties, are automatically ex officio Trustees
of the CIO.| |relationship with any related
parties;|The elected Management Committee has devolved responsibility for the
day to day running of the CIO which is largely for the production of musical| |trustees’ consideration of|and theatrical performances. The body of charity trustees has| |major risks and the system|responsibility for the CIO’s adherence to legal, charitable and financial| |and procedures to manage|laws and regulations and for the longer term well being of the charity.| |them.|| ||The Tugwell Trust Fund is a restricted charitable fund to be used for the| ||benefit of the Leatherhead Operatic Society. The Trustees have opened a| ||special deposit account in which to retain its cash balances separate from| ||day to day monies. The Trustees as a whole are responsible for the| ||management of the investments but under the terms of the Restriction,| ||only appointed trustees may vote and decide on dispensation of its funds.| ||The Trustees have adopted an Investment Policy which is kept under| ||review.| ||The Trustees have considered the risks faced by the CIO and have| ||documented their conclusions in a Risk Register.| 2 Internal Use - Confidential ## **Section C Objectives and activities** |**Summary of the objects of the**
**charity set out in its**
**governing document**
**Summary of the main**
**activities undertaken for the**
**public benefit in relation to**
**these objects (include within**
**this section the statutory**
**declaration that trustees have**
**had regard to the guidance**
**issued by the Charity**
**Commission on public**
**benefit)**|The objects of the CIO are the Advancement of the Arts for public benefit,
in particular the study and performance of musical and operatic works
and theatrical productions, and for the benefit of the public to make
donations out of surplus funds from time to time as the CIO in general
meeting shall consider warranted by the size of the surplus for such
charitable purposes whether connected with the amateur stage or not as
the CIO shall determine in general meeting.| |---|---| ||The CIO’s activities centre on staging near professional standard
performances of light opera and musical shows using a professional
theatre venue and musical production.
The main beneficiaries of the CIO’s work are its audiences and its
members, who develop their skills and gain opportunities to perform on
stage in the chorus and to audition for lead roles. Numerically, it is the
audiences that receive the most public benefit and as interest in live
theatre, especially musical shows, wanes, the work of the CIO is
increasingly important in providing outlets for those that wish to perform
and quality entertainment for those that wish to watch.
The CIO intends to support other local charities, whatever the cause,
through performances where the profits are pledged to the charity
concerned.| ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; - contribution made by volunteers. 3 Internal Use - Confidential ## Section D Achievements and performance **Summary of the main achievements of the charity during the year** In mid-2021 Covid restrictions were eased, and LOS were allowed to restart rehearsals etc. Having had a period of no activity and due to the continued uncertainties of the pandemic, we decided not to stage a full musical, and chose a ‘review’ style show which we called ‘Raise the Curtain’. The style of the show enabled us to include a larger number of cast members to make this a more inclusive production and had approximately 800 audience members across the 3 performances. We also decided to make this a charity fund raiser and raised £1,250.00. We donated this money to Yorda Adventures, a local charity for handicapped children. Early 2022 showed that things were better on the pandemic front, so we were able to go ahead and stage ‘Evita’ at the Epsom Playhouse, a show with a cast of all ages which was very well received and supported. We had 991 audience members across the 5 performances. 4 Internal Use - Confidential ## **Section E Financial review** **Brief statement of the charity’s policy on reserves Details of any funds materially in deficit** At 31 March 2022, the CIO’s free reserves stood at £2,942 and given a typical cost of around £30,000 to stage a show and the uncertainty of ticket income, it is the CIO’s policy to increase that level of reserves. None ## **Further financial review details (Optional information)** You **may choose** to include additional information, where relevant about: - the charity’s principal sources of funds (including any fundraising); - how expenditure has supported the key objectives of the charity; - investment policy and objectives including any ethical investment policy adopted. The CIO’s main income stream is ticket sales and other show income (£8,939 in this period) - the CIO does not undertake separate fundraising activities. Membership fees (£850 in this period) cover just a portion of the CIO’s administration costs and are not significant when compared to ticket sales. The Tugwell Trust Fund was valued at £106,032 as at 31 March 2021 and its value at 31 March 2022 was £101,752 of which £47,134 was held as cash and the remainder in a short dated bond fund. Restricted interest was received and amounted to £719 in the 12 months ending 31 March 2022. Almost all of the CIO’s expenditure is on the staging of its shows (£16,829 in this period). Small sums, normally about 4% of total costs are used for administration, including insurance and information technology – the figure for this year was £937. The CIO only holds investments within The Tugwell Trust Fund and seeks to produce the best financial return within an acceptable level of risk. The investment objective for the short to medium term reserves is to preserve the capital value with a minimum level of risk while generating a return that inflation-proofs the capital - assets should be readily available to meet unanticipated cash flow requirements. The CIO has no long-term reserves. 5 Internal Use - Confidential ## **Section F Other optional information** ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**|
Louise E Wilson (Jan 24, 2023 11:47 GMT)
PStone (Jan 25, 2023 20:18 GMT)
PStone|
Louise E Wilson (Jan 24, 2023 11:47 GMT)
PStone (Jan 25, 2023 20:18 GMT)
PStone| |---|---|---| ||Louise Wilson|Philippa Stone| ||Trustee|Treasurer| |||| ||
Jan 24,2023|Jan 24,2023| 6 Internal Use - Confidential ## **LEATHERHEAD OPERATIC SOCIETY** ## **THE TUGWELL TRUST** ## **BALANCE SHEET 31st MARCH 2021** Investments: at cost less amounts written of |||||**2,021**|||**2,020**| |---|---|---|---|---|---|---|---| ||||**£**|**£**|**£**|**£**|| |Nominal Value|||||||| ||4,832|M&G Short Dated Corporate Bond Fund|50,000||50,000||| ||20|M&G Short Dated Corporate Bond Fund|207||207||| ||19|M&G Short Dated Corporate Bond Fund|200||200||| ||20|M&G Short Dated Corporate Bond Fund|205||205||| ||19|M&G Short Dated Corporate Bond Fund|193||193||| ||18|M&G Short Dated Corporate Bond Fund|190||190||| ||20|M&G Short Dated Corporate Bond Fund|206||206||| ||23|M&G Short Dated Corporate Bond Fund|233||233||| ||24|M&G Short Dated Corporate Bond Fund|250||250||| ||27|M&G Short Dated Corporate Bond Fund|277||277||| ||28|M&G Short Dated Corporate Bond Fund|291||291||| ||31|M&G Short Dated Corporate Bond Fund|318||318||| ||27|M&G Short Dated Corporate Bond Fund|274||274||| ||24|M&G Short Dated Corporate Bond Fund|250||250||| ||24|M&G Short Dated Corporate Bond Fund|241||241||| ||24|M&G Short Dated Corporate Bond Fund|257||257||| ||18|M&G Short Dated Corporate Bond Fund|191||191||| ||18|M&G Short Dated Corporate Bond Fund|185||185||| ||18|M&G Short Dated Corporate Bond Fund|173||||| ||16|M&G Short Dated Corporate Bond Fund|169||||| |5,250 M&G Short Dated Corporate Bond Fund
Amount in Virgin Money Charity Deposit Account
representing
Accumulated Fund brought forward from last year
Plus/Less Surplus/Defcit for the year|54,310
53,968
54,310
53,968
52,065
52,065
**.**
.
106,374
106,032
104,904
104,904
342
1,128
105,246
106,032|53,968| |---|---|---| |||53,968
52,065
.| |||106,032| |||| |||106,032| **TRUST INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDING 31 MARCH 2022** |Interest on investments and other interest received
Investment income
Operating costs
Distribution to LOS
Surplus/Defcit for year|**2022**
**2021**
**£**
**£**
**£**
**£**
342
1,128
0
0
0
0
0
0
0
0
342
1,128|**2022**
**2021**
**£**
**£**
**£**
**£**
342
1,128
0
0
0
0
0
0
0
0
342
1,128| |---|---|---| |||| |||1,128| |Tugwell Trust from the beginning
Summary
Initial value in 1989
Income
Administration
Given to LOS
Given to others
Net increase in value
Total fund as at 31 March 2022
Tugwell Trust Current Value of Investments
Valuation at 31 March 2022
Nominal Value
£
5,250 M&G Short Dated Corporate Bond Fund
Market value at 31 March 2021
Market value at 31 March 2022|from 1st November 1989
£
£
66,379
223,005
-90
-181,920
-1,000
-183,010
39,995
106,374
Book Value
Price per
Market Value
£100
nominal
£
£
£
54,310
0|from 1st November 1989
£
£
66,379
223,005
-90
-181,920
-1,000
-183,010
39,995
106,374
Book Value
Price per
Market Value
£100
nominal
£
£
£
54,310
0| |---|---|---| ||54,527||