J richardson swift REGISTERED CHARITY NUMBER: 1157981 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024 for BATH LIGHT OPERATIC GROUP RiGhardson Swift Audit Limited 11 Laura Place Bath BA2 4BL
BATH LIGHT OPERATIC GROUP Contents of the Financial Statements for the year ended 31 December 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements DetallÈd Statement of Financial Activities
BATH LIGHT OPERATIC GROUP Report of the Trustees for the year ended 31 December 2024 The trustees present Iheir report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The object of the Group is". "To advance the education of the public in the Arts of Music, Drama and Dance." This was refined and approved by the Charity Commission and agreed by members on 14 April 2024. Significant activities Thig has beèn an exnp.Ilpnt year for BLOG. Not only has it continued to deliver against ts objectives, it also delivered some quality productions that continued to engage the public. In 2024. the charity undertook the following core activities in pursuit of its objectives: Musical Melodies - Showiopia - Songs From The Shows - Charity Concert for Weston All Saints Church - My Fair Lady at The Theatre Royal Bath Bath Light Operatic Group has delivered solid financial results that ensure the group continues to operate with a sure foundation and it has some excellent plans for the next two years. The Trustees have reviewed and generated over 20 policies and procedures. The first issues of a complete suite of policies and procedures appropriate for the CIO are now all accessible on the group's website. Tnls was communicated to members in January 2025. These policies and procedures ensure a framework of G0Veman and Compliance aligned to The Charity Commission Guidelines. Public Benefit The Trustees confimi they have complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to the Chariiy Commission's guidan on public benefit. Princlpal Risks Facing the Charity The current minimumlmaximum number of Trust*s is set al 3, which could potentially pose a risk to the continuation of the Charity. The current Trustees advise that the current structure is reviewed so that the risk is minimised and that a suCsSion Plan is put in place to mitigate the risk. The Trustees are conscious that a huge amount of work falls on a relatively small number of volunteers shoulders and that this remains a potential risk to the continuation of BLOG alongside the annual retirement of the Management Committee as detailed in The Code of Practice. FINANCIAL REVIEW Financial position The Group has had a solid year, although the main show did make a loss. Again, a very healthy tax rebate was also achieved which also contributed to this position. It is important that show choices strike the balance belween audienc and member appeal, and that fundraising activities continue. ReseNes policy Reserves are needed to bridge the gap betWn the spending and receiving of resources and to cover unplanned emergency expenses. The Trustees consider that the ideal level of reseNes to be £60k. This is based on TRB show loss of £30k and this level would protect us for 2 poor shows. Page 1
BATH LIGHT OPERATIC GROUP Report of the Trustees for the year ended 31 December 2024 FINANCIAL REVIEW Going concern The Trustees have reviewed the position and confinn the charity is and is fully expected to continue as a going concem. Summary BLOG has delivered an excellent year of activilies and financial results. The Trustees alongside the Management Committee have also improved its g0Veman arrangements through the produclion of a complele suite of relevant policies and procedures. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming document, a deed of trust and constitutes an CIO. Organisational structure Bath Light Operatic Group (BLOG) is structured at three levels: Tnjstees, Management Committee and Group Membership. As articulated in the Group's constitution. the Twstees are accountable for ensuring the Group delivers its stated purpos8. The day to day operation of the Group is delegated to a Management Committee that operates in accordan with a membership agreed Code of Practi. The Group is primarily focused in the delNery of theatrical productions and so some key acliviiies are further delegated to teams focused on aspects of these productions. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1157981 prinr.ipal address 6a Kelston Road Bath BA13QN Trustees R D Canning H Feierabend Mrs L Matson Independent Examiner Catherine Edwards Richardson Swift Audit Limited 11 Laura Place Bath BA2 4BL 2010512025 Approved by order ofthe board of trustees on ................. . and signed on its behalf by.. R D Canning - Trustee Page 2
Independent Examinerfs Report to the Trustees of Bath Light Opèratic Group Independent examinerfs report to the trustees of Bath Light Operatic Group I report to the charity trustees on my examination of the accounts of Bath Light Operatic Group (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('Ihe Act.). I report in respect of my examination of the Trusvs accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the ACL Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. aecounting records were not kept in rpqpoct of the Tnjst as required by Section 130 of the Act. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements Conrning the form and content of accounts set out in the Charities (Accounts and Rerts) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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 accounts to be reached. Catherine Edwards Richardson Swift Audit Limited 11 Laura Place Bath BA2 4BL Date.. ?2JsJ2S............... Page 3
BATH LIGHT OPERATIC GROUP statement of Financial Activities for the year ended 31 December 2024 2024 Unrestricted fund 2023 Tolal funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 9,835 10,479 Other trading activities Investment income 114,587 688 141,047 159 Total 125.110 151.685 EXPENDITURE ON Raising funds 125.351 124.373 Other 4,372 3,650 Totsl 129,723 128,023 NET INCOMEI(EXPENDITURE) (4,613) 23.662 RECONCILIATION OF FUNDS Total fundq brought fonNard 90,641 66,979 TOTAL FUNDS CARRIED FORWARD 86.028 90,641 The notes fom part of these financial statements Page 4
BATH LIGHT OPERATIC GROUP Balance Sheet 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes CURRENT ASSETS Debtors Cash at bank 3,081 86,761 97,538 89,842 97,538 CREDITORS Amounts falling due within one year (3.814) {6,897) NET CURRENT ASSETS 86,028 90,641 TOTAL ASSETS LESS CURRENT LIABILITIES 86,028 90,641 NET ASSETS 86,028 90,641 FUNDS Unrestricted funds 86,028 90,641 TOTAL FUNDS 86,028 90,641 The financial statements were approved by the Board of Trustees and authorised for issue on 2010512025". and were signed on its behalf by: R D Canning - Trustee The notes fomi part of these financial statements Page 5
BATH LIGHT OPERATIC GROUP Notes to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statemenls of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: statement of Recommended Practice applicable to tharities preparing their accounls in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) (effective 1 January 2019),, Financial Reporting Slandard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Adivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Theatre tax relief is recognised on receipt as this is the point at which it mts all of the criieria above. Expenditure Liabililies are recognised as expenditure as sc(*n as there is a legal or constructive obligation committing Ihe charily to that expenditure. li is probable that a transfer of economic benefits will be required in gettlement and the amount nf thp obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exp.mpt from tax on ils charitable activiiies. Fund accounting Unrestricted funds can be used in accordance with the charitabte objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted putP05es within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. OTHER TRADING ACTMTIES 2024 2023 Fundraising events My Fair Lady income Sundry income Oliver Income SFTS Income Theatre tsx relief 7,311 73,256 2,480 7,174 3,363 98,077 11,571 20,862 11,253 20.287 114,587 141,047 Page 6 continued...
BATH LIGHT OPERATIC GROUP Notes to the Financial Statements - continued for the year ended 31 December 2024 INVESTMENT INCOME 2024 2023 Interest receivable 688 159 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 Dernber 2024 nor for the year ended 31 December 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 Docombar 2023. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments 3,081 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and social security Other crp.ditt)rs 2,396 1.418 5,547 1,350 3,814 6,897 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 7
BATH LIGHT OPERATIC GROUP Detailed Statement of Financial Activities for the year ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Patrons donations Gift aid Members subscriptions and donations 288 1,082 8,465 379 1,295 8,805 9,835 10,479 other trading activitles Fundraising events My Fair Lady income Sundry income Oliver Income SFTS Income Theatre tax relief 7.311 73,256 2,480 7,174 3,363 98,077 11,571 20,862 11,253 20.287 114.587 141,047 Investment income Interest receivable 688 159 Totsl incoming resources 125,110 151.685 EXPENDITURE Raising donations and legacies Rent Insurance Subscriptions Sundries 9,194 1,188 483 4.257 8,023 1,332 452 6,398 15,122 16.205 Other trading activities SFTS Expenditure My Fair Lady 2024 and Oliver 2023 Expenditure Fundraising expenses 8.631 6,536 97,395 4,203 97,809 3.823 110,229 108,168 Support costs Governance costs Accountancy and tax consultant fees 4,372 3.650 Total resources expended 129,723 128.023 Net (expendlture)lincome (4,613) 23,662 This page does not fomi part of the statutory financial statements Page 8