**REGISTERED CHARITABLE INCORPORATED ORGANISATION NUMBER: CE003816 (England and Wales) REGISTERED CHARITY NUMBER: 1161097**
## **Romsey Amateur Operatic and Dramatic Society (RAODS)**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024**
Romsey Amateur Operatic and Dramatic Society (RAODS)
Contents of the Financial Statements for the Year Ended 31 March 2024
||Page|
|---|---|
|Reference and Administrative Details|1|
|Report of the Trustees|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|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
## **Independent Examiner**
Duncan Rogers MAAT Accounting Hut 4 Latimer Street Romsey Hampshire SO51 8DG
## **Banks**
TSB Bank 6 Market Place Romsey SO51 8YS
Co-operative Bank PLC Business Direct P O Box 250, Skelmersdale, WN8, 6WT
Page 1
Romsey Amateur Operatic and Dramatic Society (RAODS)
## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2024**
The trustees, present their report with the financial statements of the charity for the Year to 31[st] March 2024. 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**
The investment in increased marketing that has taken place over the last 24 months – coupled with a popular programme of RAODS shows and non-RAODS shows – has seen a period of very high tickets sales in this financial year, including several sellout performances. Consequently the higher spend on marketing will continue, with particular focus on distributing a large number of our multi-month programme leaflets to selected post code areas via Royal Mail, at the time that the leaflet includes our annual pantomime.
We faced an unplanned cost of just over £50,000 in this financial year, as rust on supporting bars beneath the surface of the theatre’s fascia was causing rendering to split off and fall. The timing was problematic given the stage house rebuild planned for less than a year later. But a combination of an additional £25,000 grant – and our very high ticket sales – have ensured that we can still go ahead with the stage house rebuild.
Welcome news received during the course of this year was confirmation that we will be welcomed back to perform at the Minack Theatre in Cornwall. The timing of that performance – September 2025 – will provide welcome additional income, as we anticipate paying off the £200,000 loan required for the stage house rebuild in approximately five years. And finally, other news in the year was that the professional career of one of our past members – Joe Slight – continues to flourish, with his taking one of the lead roles in the touring professional production of _Blood Brothers_ .
## **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.
(To this end, it was agreed that each year’s pantomime will support one or more local charities, starting in January 2025).
## **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:
|NAME|ROLE|DATE APPOINTED|
|---|---|---|
|Neil Alan Gwynne|Chair|22/9/2021|
|Russell Mark Theron|Vice Chair|22/9/2021|
|Martin Vines|Treasurer|20/9/2023|
|Jane Russell|Secretary|22/9/2021|
|Paul Sheppard Green|Artistic director|22/9/2021|
|Bryan Bolton|Business manager|22/9/2021|
continued...
Page 3
|Sandra Kerrell|FoH manager|20/9/2023||
|---|---|---|---|
|Carlton Douglas|Technical manager|28/9/2022||
|Barry Young|Estates manager|28/9/2022||
|Caroline Egg|Trustee|22/9/2021||
|Kerry Lilly|Trustee|20/9/2023||
|Lynette Butcher|Trustee|22/9/2021||
|Alan Rimmer|Trustee|21/9/2018|Resigned 20/9/2023|
|Clair Backhurst|Trustee|20/9/2019|Resigned 20/9/2023|
|Chris Moses|Trustee|26/9/2018|Resigned 20/9/2023|
## **Key management remuneration**
No members of the key management personnel were paid remuneration during the year.
## **FINANCIAL REVIEW**
This financial year has seen RAODS gross income break the £300,000 barrier for the first ever time, and by some considerable distance. What is more, one of our members has recently retired as Head of Finance for a worldrenowned professional theatre company, and has therefore identified substantial savings that we can make on our future operational surpluses via claiming Theatre Tax Relief. So despite the fact that we will have a £200,000 loan to repay (following the stage house rebuild) the future looks very secure. Our gross, unrestricted, income in the reported financial year was £345,638 as compared with £244,396 during the 11 months to 31 March 2023.
## **Reserves**
The trustees consider unrestricted funds should be sufficient to cover at least 3 months expenditure (excluding show expenses). Unrestricted general fund reserves on 31st March 2024 were £363,755 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 are targeted for no more than £775,000 – assuming no additional extra work arises when the work begins. A grant of £300,000 has been agreed with Test Valley Borough Council from the Community Infrastructure Levy (CIL) to assist with the costs, as has a further grant of £25,000 from the Community Asset Fund (in recognition of the unplanned costs faced in this financial year re the repair and painting work on the theatre fascia). It is anticipated that a loan of £200,000 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
continued...
Page 3
## 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 year ended 31 March 2024.
## 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 Association of Accounting Technicians.
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:
1. the accounting records were not kept in accordance with section 130 of the Charities Act; or
2. the accounts do not accord with those records; or
3. 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.
Duncan Rogers MAAT Accounting Hut Romsey Hampshire SO51 8DG
Date: .............................................
Page 4
Romsey Amateur Operatic and Dramatic Society (RAODS)
Statement of Financial Activities for the Year Ended 31 March 2024
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies 2
**Charitable activities**
Internal shows and Programme sales
External services - Outside bookings
External services - Facility, equipment &
costume hire
Bar and Kiosk
Membership Fees
**Other trading activities –**Car parking Income
**Other income**
**Total**
**EXPENDITURE ON**
Charitable activities 6
Fundraising costs
Other expenditure
**NET INCOME**3
**Transfer of funds**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
4,057
121,625
132,193
1,875
64,158
5,665
12,000
4,065
345,638
293,837
54
650
294,541
51,097
-
51,097
1,126,724
1,177,821|Restricted
fund
£
28,248
-
-
-
-
-
-
-
28,248
-
-
28,248
28,248
-
-
-
-
-|Year to
31 Mar
2024
Total
funds
£
32,305
121,625
132,193
1,875
64,158
5,665
12,000
4,065
373,886
293,837
54
28,898
322,789
51,097
-
51,097
1,126,724
1,177,821|11 months
31 Mar
2023
Total
funds
£
6,343
103,259
78,560
1,832
41,620
4,386
10,862
2,534|
|---|---|---|---|---|
|||||249,396
170,953
-
-|
|||||170,953|
|||||78,443
-|
|||||78,443
1,048,281|
|||||1,126,724|
The notes on pages 7 to 12 form part of these financial statements
Page 5
Romsey Amateur Operatic and Dramatic Society (RAODS)
Balance Sheet 31 March 2024
|Notes
**FIXED ASSETS**
Tangible assets
8
**CURRENT ASSETS**
Stocks
9
Prepayments and accrued income
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted Funds
General Fund
Capital Reserve Fund
**TOTAL FUNDS**|Unrestricted
funds
£
814,066
1,075
21,767
356,130
378,972
(15,217)
363,755
1,177,821
1,177,821|Restricted
fund
£
-
-
-
-
-
-
-
-
-|31.3.24
Total
funds
£
814,066
1,075
21,767
356,130
378,972
(15,217)
363,755
1,177,821
1,177,821
363,755
814,066
1,177,821|31.3.23
Total
funds
£
823,929
1,651
9,668
302,751
314,070
(11,275)
302,795
1,126,724
1,126,724
302,795
823,929
1,126,724|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
The notes on pages 7 to 12 form part of these financial statements
............................................. Neil Gwynne - Chair
Page 6
Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements for the Year Ended 31 March 2024
## **1. 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.
continued...
Page 7
## Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**DONATIONS AND LEGACIES**
Gifts and donations
Legacies
Grants|£
Unrestricted
4,057
-
-
4,057|
£
Restricted
-
-
28,248
28,248|Year to
11 months
31 Mar
to 31 Mar
2024
2023
£
£
4,057
1,343
-
-
28,248
5,000
32,305
6,343|Year to
11 months
31 Mar
to 31 Mar
2024
2023
£
£
4,057
1,343
-
-
28,248
5,000
32,305
6,343|
|---|---|---|---|---|
|||||6,343|
## **2. DONATIONS AND LEGACIES**
A grant of £28,248 was received from the Test Valley Borough Council for first instalment on building works.
## **3. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2024|2023|
|---|---|---|
||£|£|
|Depreciation - owned assets|9,863|9,168|
|Savings Interest|(3,375)|(1,280)|
## **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 for acting as a Trustee, only reimbursement of costs incurred on behalf of the charity.
## **5. RELATED PARTY DISCLOSURES**
During the year purchases of £1,175 (2023:£10,729) were made from BHM Electrical Services Ltd, in which Mr B Young, a trustee, has a business interest, for work undertaken in the normal course of business . There were no outstanding invoices at the year end.
Purchases of £400 (2023:£864) were made from Chris Moses Productions, in which Mr C Moses, a trustee until September 2023, has a business interest, for work undertaken whilst he was a trustee, in the normal course of business. There were no outstanding invoices at the year end.
continued...
Page 8
Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **6. CHARITABLE ACTIVITIES**
Direct costs are allocated to the relevant Charitable activity. Support costs are allocated across Charitable activities in proportion to the income received.
|**Income**
**Expenditure**
External share of ticket sales
costs directly allocated
support costs:
Insurance
L&H
phone
administration &
publicity
general expenses
backstage, maintenance
& workshop
cleaning
bank charges
credit card charges
licences & subscriptions
bookkeeping &
accountancy
Legal and professional
depreciation
Surplus for the period
from charitable activities|internal shows &
programmes
outside bookings
costume &
equipment hire
bar & kiosk
membership
Year
to 31
Mar
2024
total
11
months
to 31
Mar
2023
total
121,625
132,193
1,875
64,158
5,665
325,516
229,657
-
85,252
-
-
-
85,252
54,977
25,028
-
-
31,394
-
56,422
33,076
3,598
1,388
55
1,898
168
7,107
7,098
7,745
2,989
119
4,085
361
15,299
9,145
191
73
3
100
9
376
685
7,126
2,750
110
3,759
331
14,076
14,628
719
278
11
380
34
1,422
1,015
37,028
14,292
571
19,533
1,724
73,148
20,527
4,447
1,717
69
2,346
207
8,786
6.928
32
13
1
18
2
66
71
435
168
7
229
20
859757
7,781
3,003
120
4,105
362
15,371
8,368
2,491
961
38
1,314
116
4,920
4,510
440
170
7
232
21
870
0
4,993
1,927
76
2,634
233
9,863
9,168|
|---|---|
||102,054
114,981
1,187
72,027
3,588
293,837
170,953|
||19,571
17,212
688
-7,869
2,077
31,679
58,704|
continued...
Page 9
Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,343
**Charitable activities**
Internal shows and programme sales
103,259
External services-outside bookings
External services - Facility, equipment &
costume hire
78,560
1,832
Bar and Kiosk
Membership fees
41,620
4,386
Other trading activities
10,862
Other income
2,534
**Total**
244,396
**EXPENDITURE ON Charitable activities**
Internal shows
67,246
External shows-outside bookings
External services - Facility, equipment &
costume hire
66,169
869
Bar and Kiosk
34,588
Subscriptions
2,081
**Total**
170,593
**NET INCOME**
73,443
Transfer of funds
5,000
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
1,048,281
**TOTAL FUNDS CARRIED FORWARD**
1,126,724|Restricted
Total
fund
funds
£
£
5,000
6,343
-
103,259
-
78,560
1,832
-
-
-
41,620
4,386
-
10,862
-
2,534
5,000
249,396
-
67,246
-
66,169
869
-
34,588
-
2,081
-
170,593
5,000
78,443
(5,000)
-
-
1,048,281
-
1,126,724|
|---|---|
continued...
Page 10
Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **8. TANGIBLE FIXED ASSETS**
|Plaza
building
& improvements
£
**COST**
At 1 April 2023
858,261
Additions
-
At 31 March 2024
858,261
**DEPRECIATION**
At 1 April 2023
37,863
Charge for year
8,580
At 31 March 2024
46,443
**NET BOOK VALUE**
At 31 March 2024
811,818
At 31 March 2023
820,398
**9.**
**STOCKS**
Stocks
**10.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income|Stage &
lighting
£
20,848
-
20,848
17,317
1,283
18,600
2,248
3,531|Plant &
equipment
£
7,326
-
7,326
7,326
-
7,326
-
-
2024
£
1,075
2024
£
15,217
15,217|Totals
£
886,435
-
886,435
62,506
9,863
72,369
814,066
823,929
2023
£
1,651
2023
£
11,275
11,275|
|---|---|---|---|
continued...
Page 11
Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **11. MOVEMENT IN FUNDS**
|At 1.4.23
£
**Unrestricted funds**
General fund
302,795
Capital reserve fund
823,929
**TOTAL FUNDS**
1,126,724|Net
movement
in funds
£
60,960
(9,863)
51,097|Transfers
between
At
funds
31.3.24
£
£
-
363,755
-
814,066
-
1,177,821|
|---|---|---|
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:
|**Unrestricted funds**
General fund
Capital reserve fund
**TOTAL FUNDS**|Incoming
resources
£
373,886
-
373,886|Resources
Movement
expended
in funds
£
£
(312,926)
60,960
(9,863)
(9,863)
(322,789)
51,097|
|---|---|---|
## **Comparatives for movement in funds**
|At 1.5.22
£
**Unrestricted funds**
General fund
229,453
Capital reserve fund
818,828
**TOTAL FUNDS**
1,048,281|Net
movement
in funds
£
87,611
(9,168)
78,443|Transfers
between
At
funds
31.3.23
£
£
(14,269)
302,795
14,269
823,929
-
1,126,724|
|---|---|---|
Comparative 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 reserve fund|-|(9,168)|(9,168)|
|**TOTAL FUNDS**|249,396|(170,953)|78,443|
Page 12
Romsey Amateur Operatic and Dramatic Society (RAODS)
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grant
**Other trading activities**
Car parking income
**Charitable activities**
Internal shows and Programme Sales
External services - Outside bookings
External services - Facility, equipment &
costume hire
Bar and Kiosk
Membership fees
**Other income**
Interest received
Miscellaneous income
Insurance claim
Training Income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Direct costs
Insurance
Light and heat
Telephone
Administration, advertising and publicity
General expenses
Backstage, maintenance and workshop expenses
Grant building work
Cleaning
Bank charges
Credit card charges
Licenses and subscriptions
Bookkeeping and accountancy
Legal and Professional fees
Fundraising costs
Training
Depreciation of tangible fixed assets
Total resources expended
**Net income**||Year to 11 months
31 Mar
to 31 Mar
2024
2023
£
£
4,057
1,343
28,248
5,000
32,305
6,343
12,000
10,862
121,625
103,259
132,193
78,560
1,875
1,832
64,158
5,665
41,620
4,386
325,516
229,657
3,375
1,280
40
400
-
854
650
-
4,065
2,534
373,886
249,396
141,674
88,053
7,107
7,098
15,299
9,145
376
685
14,076
14,628
1,422
1,015
73,148
20,527
28,248
-
8,786
6,928
66
71
859
757
15,371
8,368
4,920
4,510
870
-
54
-
650
-
9,863
9,168
322,789
170,953
51,097
78,443|
|---|---|---|
This page does not form part of the statutory financial statements
Page 13