2023-03-31-accounts - Romsey Amateur Operatic And Dramatic Society (Raods)

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REGISTERED CHARITABLE INCORPORATED ORGANISATION NUMBER: CE003816 (England and Wales)

REGISTERED CHARITY NUMBER: 1161097

Report of the Trustees and

Unaudited Financial Statements for the 11 months Ended 31 March 2023

for

Romsey Amateur Operatic and Dramatic Society (RAODS)

Contents of the Financial Statements for the 11 months Ended 31 March 2023

		Page
Reference andAdministrativeDetails		1

Report oftheTrustees	2	to	3

IndependentExaminer'sReport	4

Statement of Financial Activities	5

Balance Sheet		6
			12
Notes to theFinancialStatements	7	to	12

Detailed Statement of Financial Activities	13

Romsey Amateur Operatic and Dramatic Society (RAODS)

REFERENCE AND ADMINISTRATIVE DETAILS

Registered CIO number

CE003816 (England and Wales)

Registered Charity number

1161097

Registered office

The Plaza Theatre Winchester Road Romsey SO51 8JA

Trustees

Mr N Gwynne - Chair Mr R Theron - Vice Chair Mrs C Backhurst - Treasurer Mrs J Russell - Secretary Mr A Rimmer Mr C Moses Mr B Young Mrs L Butcher Mrs C Egg Mr C Douglas Mr P Green Mr B Bolton

Independent Examiner

David Jerram FFA/FIPA FFTA Jerram Surlis Limited 4 Latimer Street Romsey Hampshire SO51 8DG

Romsey Amateur Operatic and Dramatic Society (RAODS)

REPORT OF THE TRUSTEES for the 11 months Ended 31 March 2023

The trustees, present their report with the financial statements of the charity for the 11 months to 31[st] March 2023.

The accounts have been prepared in accordance with accounting policies set out in the notes to the accounts and comply with the requirements of the Charities Act 2011 and the provisions of 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 2019).

ACHIEVEMENTS AND PERFORMANCE

To ensure that members get the relevant final set of accounts before our AGM, we have moved our year end from the end of April to the end of March. Consequently, this report only covers 11 months. However, those 11 months have seen a continuation of good ticket sales - indeed growth in them. So, we have earned considerably more, both in terms of gross income and operating surplus, than in 2021/22.

However, that was still not enough to compensate for the massive increase in building costs since we planned to undertake our stage house build in the summer of 2023. Consequently, at an Extraordinary General Meeting held in February 2023, it was agreed to postpone this build until summer 2024 and to remove from the scope the installation of powered lighting grid bars. (They can be installed later). In addition, we sought - and obtained - a 50% increase in the size of grant from the Community Infrastructure Levy for the work. The grant now totals £300,000.

The last year has seen some particularly well received shows, as well as increasing popularity of our tribute acts and comedy nights. We anticipate this continuing between now and March 2024, when we will be only a matter of weeks away from the stage house build starting. Amongst other ways of keeping income going during the build, we will be performing our first open-air Shakespeare in some years in 2024 - specifically the Scottish play!

OBJECTIVES

As set out in the Constitution of the CIO:

The object of RAODS is to educate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said arts and to assist and further such charitable institutions and charitable purposes as the Committee shall from time to time determine.

PUBLIC BENEFIT

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

RAOD’s governing document comprises the Constitution and Directives of the Society, which has been established as a Charitable Incorporated Organisation (CIO).

Trustees

Trustees are elected annually at the AGM. There are between 9 and 14 trustees at any one time. After serving for 5 years in one or more roles an individual must stand down but is eligible for re-election after 1 year.

Trustees who served during the year are: Mr N Gwynne - Chair Appointed 22.9.21 Miss F Strange Resigned 28.9.22 Mr R Theron - Vice Chair Appointed 22.9.21 Mr P Moore Resigned 28.9.22 Mrs C Backhurst - Treasurer Appointed 22.9.19 Mr T Smythe Wright Resigned 28.9.22 Mrs J Russell - Secretary Appointed 22.9.21 Ms S Kerrell Resigned 28.9.22 Mr A Rimmer Appointed 28.9.22 Mr C Moses Appointed 22.9.18 Mr B Young Appointed 28.9.22 Mrs L Butcher Appointed 22.9.21

Mrs C Egg Appointed 22.9.21 Mr C Douglas Appointed 28.9.22 Mr P Green Appointed 22.9.21 Mr B Bolton Appointed 22.9.21Romsey Amateur Operatic and Dramatic Society (RAODS) Report of the Trustees For the 11 months ended 31 March 2023 Cont/

Key management remuneration

No members of the key management personnel were paid remuneration during the year.

FINANCIAL REVIEW

Following the lifting of Covid restrictions RAODS has seen increased income during the period from its activities with £229,657 income from charitable activities during the 11 months to 31 March 2023 compared to £176,586 in the year to 30 April 2022.

Reserves

The trustees consider unrestricted funds should be sufficient to cover at least 3 months expenditure (excluding show expenses). Unrestricted reserves on 31[st] March were £302,795 which is comfortably above the minimum level set, which allows the charity to invest in the ongoing refurbishment of the building.

Future Plans

The Stage House build work is scheduled for the summer of 2024. The costs will be no more than £775,000. A grant of £300,000 has been agreed with Test Valley Borough Council from the Community Infrastructure Levy (CIL) to assist with the costs. It is anticipated that a loan of up to £250,000 will be needed to cover costs that cannot be covered by reserves.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................

Neil Gwynne - Chair Independent Examiner's Report to the Trustees of Romsey Amateur Operatic and Dramatic Society (RAODS)

Independent examiner's report to the trustees of Romsey Amateur Operatic and Dramatic Society Charitable Incorporated Organisation (RAODS) ('the CIO')

I report to the charity trustees on my examination of the accounts of the CIO for the 11 months ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011

I report in respect of my examination of the CIO's accounts 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

The CIO’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Financial Accountants.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or

the accounts do not accord with those records; or

the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) 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.

David Jerram FFA/FIPA FFTA Jerram Surlis Limited 4 Latimer Street Romsey Hampshire SO51 8DG

Date: ............................................. Romsey Amateur Operatic and Dramatic Society (RAODS)

Statement of Financial Activities for the 11 months Ended 31 March 2023

INCOME AND ENDOWMENTS FROM	INCOME AND ENDOWMENTS FROM	INCOME AND ENDOWMENTS FROM	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	11 months to 31 Mar 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £	Year to 30 Apr 2022 Total funds £ 11,794 66,244 72,516 2,565 28,754 6,507	Year to 30 Apr 2022 Total funds £ 11,794 66,244 72,516 2,565 28,754 6,507
Donations andlegacies2			1,343		5,000		6,343		11,794
Charitable activities
Internalshows andProgramme sales			103,259		-		103,259		66,244
Externalservices-Outside bookings			78,560		-		78,560		72,516
External services - Facility, equipment & costumehire		1,832			-		1,832		2,565
Bar and Kiosk MembershipFees			41,620 4,386		- -		41,620 4,386		28,754 6,507

Other trading activities –Car parking Income				10,862		-		10,862		10,500
Other income			2,534		-		2,534		36,303

Total			244,396		5,000		249,396		235,183
EXPENDITURE ON									167,640
Charitable activities	5		170,953		-		170,953		167,640

NET INCOME	73,443	5,000	78,443	67,543

Transfer of funds	5,000	(5,000)	-	-


NET INCOME	78,443	-	78,443	67,543

RECONCILIATION OF FUNDS											980,738 1,048,281 30.4.22 Total funds £	980,738 1,048,281 30.4.22 Total funds £
Total funds brought forward		1,048,281			-			1,048,281			980,738


TOTAL FUNDS CARRIED FORWARD		1,126,724			-			1,126,724			1,048,281

Romsey Amateur Operatic and Dramatic Society (RAODS) Balance Sheet 31 March 2023 FIXED ASSETS		Notes		31.3.23 Unrestricted Restricted Total funds fund funds £ £ £
Tangible assets	7		823,929			-			823,929			818,828
CURRENT ASSETS
Stocks	8		1,651			-			1,651			402
Prepayments and accruedincome		9,668			-			9,668			8,652
Cashat bankandin hand		302,751			-			302,751			223,132

CREDITORS				314,070				-	314,070			232,186
Amountsfalling duewithinone year	9		(11,275)			-			(11,275)			(2,733)


NETCURRENT ASSETS		302,795			-			302,795			229,453


TOTAL ASSETS LESS CURRENT LIABILITIES		1,126,724			-			1,126,724			1,048,281


NET ASSETS		1,126,724			-			1,126,724			1,048,281




FUNDS	11
UnrestrictedFunds
General Fund							302,795			229,453
Capital ReserveFund							823,929			828,828

TOTAL FUNDS							1,126,724			1,048,281

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Neil Gwynne - Chair Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements for the 11 months Ended 31 March 2023

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the CIO, 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 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 and on a going concern basis. There are no material uncertainties about the CIO’s ability to continue.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the 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.

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.

Fixed assets are stated at cost or valuation less depreciation. depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows: Plaza building and improvements 1% straight line Stage and lighting 15% straight line Plant and equipment 25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes 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.

Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the 11 months Ended 31 March 2023

					11 months Year to to 31 Mar 30 Apr 2023 2022 £ £ 742 385 10,6 67 - 11,7 94
2.	DONATIONS AND LEGACIES
			£	£
		Unrestrict ed	Restrict ed

	Gifts and donations	1,343	-	1,343	742
	Legacies	-	-	-	385
	Unrestricted Grants	-	-	-	10,6 67
	Restricted Grants	-	5,000	5,000	-

		1,343	5,000	6,343	11,7 94

A grant of £5,000 was received from the Theatres Trust Charitable Fund in September 2022 for work on a new electric distribution panel. The work was completed in September 2022 at a cost of £10,279 and is shown as a capital addition within note 7 to the financial statements.

3.	NET INCOME/(EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):	2023 £
	Depreciation - owned assets SavingsInterest	9,168 (1,280)	4,682 (543)


4.	TRUSTEES' REMUNERATION AND BENEFITS

No member of the management committee nor any person connected with them, has received or is due to receive any remuneration from the charity's funds.

Trustees' expenses

During the year Trustees did not receive any expenses, only reimbursement of costs incurred on behalf of the charity.

Romsey Amateur Operatic and

Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the 11 months Ended 31 March 2023

CHARITABLE ACTIVITIES

5. CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.

5.	5.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.	CHARITABLE ACTIVITIES Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.
			internal shows & progra mmes	outside bookin gs	costum e & equipm ent hire	bar & kiosk	memb ership	11 months to 31 Mar 2023 total	Year to 30 Apr 2022 total



Income		103,25 9	78,560	1,832	41,620	4,386	229,65 7	176,58 6



Expenditure

External share of ticket sales		-	54,977	-	-	-	54,977	51,057

costs directly allocated		18,241	-	-	14,835	-	33,076	33,646



sup	port costs:



Insurance		4,197	958	74	1,691	178	7,098	7,560

L&H		5,405	1,235	96	2,179	230	9,145	6,960

phone		406	92	7	163	17	685	590

administration & publicity	8,648	1,975	153	3,485	367	14,628	7,526

generalexpenses	600	137	11	242	25	1,015	1,780

backstage, maintenance & workshop	12,135	2,771	215	4,891	515	20,527	32,288

cleaning	4,095	935	73	1,651	174	6,928	7,654

bankcharges	41	10	1	17	2	71	62

credit card charges	447	102	8	180	20	757	1,353

licences & subscriptions	4,946	1,130	88	1,994	210	8,368	7,562

bookkeeping & accountancy	2,666	609	47	1,075	113	4,510	4,920

depreciation	5,419	1,238	96	2,185	230	9,168	4,682

	67,246	66,169	869	34,588	2,081	170,95 3	167,64 0



Surplus for the period from charitable activities	36,013	12,391	963	7,032	2,305	58,704	8,946

Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the 11 months Ended 31 March 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total

INCOME AND ENDOWMENTS FROM	INCOME AND ENDOWMENTS FROM	funds fund £ £	funds fund £ £	funds £
Donations andlegacies		11,794	-	11,794
Charitable activities
Internalshows		66,224	-	66,224
External services-outside bookings External services - Facility, equipment & costumehire	72,516 2,565		-	72,516 2,565
Bar and Kiosk Programme sales Membershipfees		28,754 20 6,507	- - -	28,754 20 6,507

Othertrading activities		10,500	-	10,500
Other income		36,303	-	36,303

Total		235,183	-	235,183
EXPENDITUREON Charitable activities
Internalshows		62,875	-	62,875
External shows-outside bookings External services - Facility, equipment & costumehire	68,852 2,434		-	68,852 2,434
BarandKiosk		27,299	-	27,299
Subscriptions		6,180	-	6,180

Total		167,640	-	167,640


NET INCOME		67,543	-	67,543
RECONCILIATION OF FUNDS
Total funds brought forward		980,738	-	980,738


TOTAL FUNDS CARRIED FORWARD		1,048,281	-	1,048,281

Romsey Amateur Operatic and Dramatic Society (RAODS) Notes to the Financial Statements - continued for the 11 months Ended 31 March 2023

TANGIBLE FIXED ASSETS
COST	Plaza building Stage & & improvements lighting £ £		Plant & equipment £
At1 May2022	843,992	20,848	7,326	872,166
Additions	14,269	-	-	14,269

At 31 March 2023	858,261	20,848	7,326	886,435

DEPRECIATION
At1 May2022	30,002	16,010	7,326	53,338

		Chargeforyear	Chargeforyear	7,861	1,307		-		9,168

		At 31 March 2023		37,863	17,317		7,326		62,506

		NET BOOK VALUE
		At 31 March 2023		820,398	3,531		-		823,929

		At 30April 2022		813,990	4,838		-		818,828


8.		STOCKS
							2023 £
		Stocks				1,651		402


9.		CREDITORS: AMOUNTS FALLING DUE		WITHINONE YEAR
						2023 £
		Bank loans and overdrafts (seenote10)				-		984
		Accruals	and deferredincome			11,275		1,749




10.		LOANS
		An analysis of the maturity of loans is given below: Amountsfalling duewithinone yearondemand:				2023 £
		Bankoverdrafts				-		984


	Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the 11 months Ended 31 March 2023

11. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS	MOVEMENT IN FUNDS	MOVEMENT IN FUNDS	MOVEMENT IN FUNDS	MOVEMENT IN FUNDS	MOVEMENT IN FUNDS
Unrestricted funds	Net Transfers movement between At 1.5.22 in funds funds £ £ £				At 31.3.23 £
General fund	229,453		87,611	(14,269)	302,795
Capital reservefund	818,828		(9,168)	14,269	823,929

		1,048,281 78,443		-	1,126,724

TOTAL FUNDS	1,048,281		78,443	-	1,126,724

The Capital Reserve fund represents the book value of the tangible fixed assets less any unpaid invoices related to those assets at the year end.

Net movement in funds, included in the above are as follows:

Incoming Resources Movement resources expended in funds £ £ £

Unrestricted funds

General fund	249,396	(161,785)	87,611
Capital reservefund	-	(9,168)	(9,168)

TOTAL FUNDS	249,396	(170,953)	78,443

Comparatives for movement in funds

Unrestricted funds	Net Transfers movement between At 1.5.21 in funds funds £ £ £	Net Transfers movement between At 1.5.21 in funds funds £ £ £	Net Transfers movement between At 1.5.21 in funds funds £ £ £	At 30.4.22 £
General fund	160,073	72,224	(2,844)	229,453
Capital reservefund	820,665	(4,681)	2,844	818,828

TOTAL FUNDS	980,738	67,543	-	1,048,281

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds	Incoming Resources Movement resources expended in funds £ £ £	Incoming Resources Movement resources expended in funds £ £ £	Incoming Resources Movement resources expended in funds £ £ £
General fund	235,183	(162,959)	72,224
Capital reservefund	-	(4,681)	(4,681)

TOTAL FUNDS	235,183	(167,640)	67,543

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the period ended 31 March 2023. Romsey Amateur Operatic and Dramatic Society (RAODS)

Detailed Statement of Financial Activities for the Period Ended 31 March 2023

INCOME AND ENDOWMENTS Donations and legacies	11 months to Year to 31 Mar 30 Apr 2023 2022 £ £ 1,343 742 - 385 5,000 10,667 6,343 11,794	11 months to Year to 31 Mar 30 Apr 2023 2022 £ £ 1,343 742 - 385 5,000 10,667 6,343 11,794
Donations	1,343	742
Legacies	-	385
Grant	5,000	10,667

Other trading activities	Other trading activities			10,500	10,500
Carparkingincome		10,862		10,500
Charitable activities
Internalshows andProgramme Sales			103,259		66,244
Externalservices-	Outside bookings		78,560		72,516
External services - costumehire	Facility, equipment &		1,832		2,565
Bar and Kiosk Membershipfees			41,620 4,386		28,754 6,507

229,657

176,586

Other income
Interestreceived	1280	543
Miscellaneousincome	400	746
Insurance claim	854	35,014



Total incoming resources	249,396	235,183
EXPENDITURE Charitable activities
Direct costs	88,053	84,704
Insurance	7,098	7,561
Light andheat	9,145	6,959
Telephone	685	590
Administration, advertising and publicity	14,628	7,526
Generalexpenses	1,015	1,781
Backstage,maintenance andworkshop expenses	20,527	32,288
Cleaning	6,928	7,654
Bankcharges	71	61
Credit card charges	757	1,353
Licenses and subscriptions	8,368	7,563
Bookkeeping and accountancy	4,510	4,919
Depreciationoftangiblefxed assets	9,168	4,681


Net income	78,443	67,543