2025-03-31-accounts

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 2025

Romsey Amateur Operatic and Dramatic Society (RAODS)

Contents of the Financial Statements for the Year Ended 31 March 2025

	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 2025

The trustees, present their report with the financial statements of the charity for the Year to 31[st] March 2025. 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 major investment undertaken in this financial year was the most expensive project that RAODS has ever undertaken – and that includes the purchase and initial conversion of the Plaza. Namely the rebuilding of the stage house, at a cost of over £800,000. This necessitated the closure of our main stage from mid-May to November 2024 as well as – for much of that time – closure of our dressing rooms. Delays on the steel sections that formed the core of the build – coupled with one of the wettest summers on record – meant that water damage was more extensive than had been anticipated, and hence costs (and timeline) increased. But the end result has been worth the effort, and provides (in terms of an increased, watertight(!) performance space, and much improved electrics) a stage house that will take us into the future.

Despite this major impact on our ability to earn, we plugged the gap very effectively with shows in our greenroom and outdoors. And, on re-opening of our main stage, increased the number of non-RAODS shows beyond what we would normally do, in order to recoup funds. We are confident that we will be in a position to repay the £200,000 loan taken out in under ten years, whilst continuing to undertake investments to further improve our infrastructure and equipment.

As noted in last year’s accounts, our main marketing tool is now the over 6,500 individuals on our e-mailing list – all of whom are people who have previously bought tickets to see a performance at the Plaza. This group is emailed every month with details of the shows coming up, and this is proving extremely effective. So much so that our spend on other marketing channels – particularly hard copy posters and leaflets – is being reduced. Whilst % occupancy at performances – both RAODS and non-RAODS – is averaging close to 90% with many 100% sellouts.

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.

Re the final objective, it was agreed that each year’s pantomime will support one or more local charities - this began (very successfully) 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 Neil Alan Gwynne Chair Simon Parsonage Treasurer

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Jane Russell	Secretary
Alan Paul Rimmer	Vice Chair
Paul Sheppard Green	Artistic director
Bryan Bolton	Business manager
Sandra Kerrell	FoH manager
Carlton Douglas	Technical manager
Barry Young	Estates manager
Caroline Egg	Trustee
Lisa Holmes	Trustee
Martin Vines	Trustee
Russell Mark Theron	Vice Chair	Resigned 15/11/24
Lynette Butcher	Trustee	Resigned 15/11/24
Kerry Lilly	Trustee	Resigned 15/11/24

Key management remuneration

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

FINANCIAL REVIEW

During the year major work on a stage house rebuild a cost of £860k. Of this £310k was covered by a grant from Test Valley Borough Council and £200k by a loan from Charity bank. The reminder was financed from RAODs own funds.

As a result of the closure of the theatre for six months between July and November 2024 our gross unrestricted income in the reported financial year was £261,430 as compared with £345,638 during the year to 31 March 2024.

Despite the theatre being closed for this major capital work, income from our own produced shows was strong at £121k which matched that of last year even though there were fewer productions.

One income stream that suffered from the closure of the Plaza for this length of time was external bought in shows (£75k down from last year). The impact was a loss in contribution of around 20k. Bar & Kiosk income was also adversely affected by the closure.

In April 2024 RAODS formed a production subsidiary called RAODS Production Company Limited. RAODs entered into an agreement with the company for it to open, run and close all of the RAODS internal productions and thus enable them to claim Theatre Tax Relief (TTR) on the eligible costs. The value in the current year is £14,340.

The overall effect on the year is a loss on ordinary operations of £9,457 (last year surplus £51,097). In addition the £310k grant means that overall funds increased by £292,929.

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 2025 were £53,043 which is above the minimum level set by the Trustees.

Future Plans

The Business Plan for RAODS and the Plaza was reviewed and updated in March 2025. It covers the period 2026 to 2046 and will be reviewed/updated every five years (the next review is due in 2030). During the plan period there will be centenary celebrations for both the Plaza (2031) and RAODS (2034). The Business Plan includes three prioritised lists of ‘project’ expenditure (i.e. capital investments re infrastructure and/or equipment). Each list is for a different level of spend (<£20k, £20k£100k, £100k+).

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

........................................................................ Neil Gwynne - Chair

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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 2025.

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: .............................................

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Statement of Financial Activities for the Year Ended 31 March 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Grants 2 Charitable activities RAODS productions Other shows External services - Facility, equipment & costume hire Front of house Membership Fees Other trading activities –Car parking Income Other income Total EXPENDITURE ON Charitable activities 6 Less credit for Theatre Tax Relief Fundraising costs Donation of collections Other expenditure NET INCOME / (EXPENDITURE ) 3 Transfer of funds NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD		Unrestricted funds £ 7,602 - 121,160 57,151 2,088 46,821 10,835 7,896 7,877 261,430 284,227 (14,340) - 1,000 - 270,887	Restricted fund £ - 310,352 - - - - - - - 310,352 - - - - 7,966 7,966	Year to 31 Mar 2025 Total funds £ 7,602 310,352 121,160 57,151 2,088 46,821 10,835 7,896 7,877 571,782 284,227 (14,340) - 1,000 7,966 278,853	Year to 31 Mar 2024 Total funds £ 4,057 28,248 121,625 132,193 ,1,875 64,158 5,665 12,000 4,065 373,886 293,837 - 54 - 28,898 322,789 51,097 -
		(9,457) 302,386	302,386 (302,386)	292,929 -
		292,929 1,177,821 1,470,750	- - -	292,929 1,177,821 1,470,750	51,097 1,126,724 1,177,821

The notes on pages 7 to 12 form part of these financial statements

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Balance Sheet 31 March 2025

Notes FIXED ASSETS Tangible assets Investments 8 9 CURRENT ASSETS Stocks 10 Prepayments and accrued income Amount due from Subsidiary Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS-bank loan falling due after one year NET ASSETS FUNDS 12 Unrestricted Funds General Fund Fixed Asset Reserve Fund TOTAL FUNDS	Unrestricted funds £ 1,617,707 1 1,977 31,115 14,340 18,011 65,443 (14,626) 50,817 1,668,525 (197,775) 1,470,750	Restricted fund £ - - - - - - - - - - - -	31.3.25 Total funds £ 1,617,707 1 1,977 31,115 14,340 18,011 65,443 (14,626) 50,817 1,668,525 (197,775) 1,470,750 53,043 1,417,707 1,470,750	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

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 2025

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.

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

INCOME Gifts and donations Legacies Grants	£ Unrestricted 2,602 5,000 - 7,602	£ Restricted - - 310,352 310,352	Year to Year to 31 Mar to 31 Mar 2025 2024 £ £ 2,602 4,057 5,000 - 310,352 28,248 317,954 32,305

2. INCOME

Grants of £310,352 were received from the Test Valley Borough Council for building works and Green Room refurbishment.

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation - owned assets	61,520	9,863
Savings Interest	(3,300)	(3,375)

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

Trustees

During the year purchases of £8,714 (2024:£1,175) 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.

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

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 & card charges Loan interest licences & subscriptions bookkeeping & accountancy Legal and professional depreciation Surplus for the period from charitable activities	RAODS productions Other shows costume & equipment hire Front of House membership Year to 31 Mar 2025 total Year to 31 Mar 2024 total 121,160 57,151 2,088 46,821 10,83 5 238,055 325,516 - 39,209 - - - 39,209 85,252 46,346 - - 16,813 - 63,159 56,422 6,067 898 105 2,345 543 9,957 7,107 10,871 1,610 187 4,201 972 17,841 15,299 201 30 3 78 18 330 376 4,241 628 73 1,639 379 6,961 14,076 - - - - - - 1,422 21,484 3,181 370 8,302 1,921 35,258 73,148 9,708 1,438 167 3,752 868 15,933 8,786 179 26 3 69 16 293 925 2,341 347 40 905 209 3,842 - 9,817 1,454 169 3,794 878 16,112 15,371 3,090 458 53 1,194 276 5,071 4,920 5,326 789 92 2,058 476 8,741 870 37,485 5,551 646 14,486 3,352 61,520 9,863
	157,156 55,619 1,908 59,636 9,908 284,227 293,837
	(35,996) 1,532 180 (12,815) 927 (46,172) 31,679

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies Grants 4,057 - Charitable activities RAODS productions 121,625 Other shows External services - Facility, equipment & costume hire 132,193 1,875 Front of house Membership fees 64,158 5,665 Other trading activities 12,000 Other income 4,065 Total 345,638 EXPENDITURE ON Charitable activities Internal shows 102,054 External shows-outside bookings External services - Facility, equipment & costume hire 114,981 1,187 Bar and Kiosk 72,027 Subscriptions 3,588 Fundraising costs 54 Other Expenditure 650 Total 294,541 NET INCOME 51,097 Transfer of funds - RECONCILIATION OF FUNDS Total funds brought forward 1,126,724 TOTAL FUNDS CARRIED FORWARD 1,177,821

Restricted Total fund funds £ £ - 28,248 4,057 28,248 - 121,625 - 132,193 1,875 - - - 64,158 5,665 - 12,000 - 4,065 28,248 373,886 - 102,054 - 114,981 1,187 - 72,027 - 3,588 - 54 28,248 28,898 28,248 322,789 - 51,097 - - - 1,126,724 - 1,177,821

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. TANGIBLE FIXED ASSETSPlaza building Stage & & improvements lighting £ £ COST At 1 April 2024 858,261 20,848 Additions 558,462 306,016 At 31 March 2025 1,416,723 326,864 DEPRECIATION At 1 April 2024 46,443 18,600 Charge for year 14,165 47,184 At 31 March 2025 60,608 65,784 NET BOOK VALUE At 31 March 2025 1,356,115 261,080 At 31 March 2024 811,818 2,248 9. INVESTMENTS Ordinary shares of £1 each in RAODS Theatre Production Company Ltd

Plant & equipment Totals £ £ 7,326 886,435 683 865,161 8,009 1,751,596 7,326 72,369 171 61,520 7,497 133,889 512 1,617,707 - 814,066 2025 2024 £ £ 1 -

RAODS Theatre Production Company Limited was Incorporated in England and Wales on 15[th] April 2024 and is wholly owned by RAODS.

A summary of the results and closing balances of the production company are shown below: Turnover 44,739 Cost of sales (59,079) Theatre Tax relief credit 14,340 - Current Assets 14,341 Current Liabilities (14,340) Net Assets 1 Share Capital and Reserves 1 10. STOCKS 2025 £ Stocks 1,977 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Accruals 12,401 Bank Loan 2,225 14,626	- - -
	-
	- -
	-
	-
	2024 £ 1,075
	2024 £ 15,217 - 15,217

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. MOVEMENT IN FUNDS

At 1.4.24 £ Unrestricted funds General fund 363,755 Fixed Asset reserve fund 814,066 Restricted Funds - TOTAL FUNDS 1,177,821	Net movement in funds £ 52,063 (61,520) 302,386 292,929	Transfers between At funds 31.3.25 £ £ (362,775) 53,043 665,161 1,417,707 (302,386) - - 1,512,849

The Fixed Asset Reserve fund represents the book value of the tangible fixed assets less associated loans.

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

Unrestricted funds General fund Fixed Asset reserve fund Restricted Funds TOTAL FUNDS	Incoming resources £ 261,430 - 310,352 571,782	Resources Movement expended in funds £ £ (209,367) 52,063 (61,520) (61,520) (7,966) 302,386 (278,853) 292,929

Comparatives for movement in funds

At 1.4.23 £ Unrestricted funds General fund 302,795 Fixed Asset 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

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	373,886	(312,926)	60960
Fixed Asset reserve fund	-	(9,863)	(9,863)
TOTAL FUNDS	373,886	(322,789)	51,097

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Romsey Amateur Operatic and Dramatic Society (RAODS)

Detailed Statement of Financial Activities (unrestricted funds) for the Year Ended 31 March 2025

INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Other trading activities Car parking income Charitable activities RAODS productions Other shows External services - Facility, equipment & costume hire Front of house Membership fees Other income Interest received Miscellaneous income Gift Aid reclaimed 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 Cleaning Bank charges Credit card charges Bank loan interest Licenses and subscriptions Bookkeeping and accountancy Legal and Professional fees Depreciation of tangible fixed assets Other costs: Donation of bucket collection Fundraising costs Training Total resources expended Less: theatre tax relief credit Net expenditure Net income	Year to 31 Mar 25 £ 2,602 5,000 7,602 7,896 121,160 57,151 2,088 46,821 10,835 238,055 3,300 126 4,451 - 7,877 261,430 102,368 9,957 17,841 330 6,961 - 35,258 15,933 103 190 3,842 16,112 5,071 8,741 61,520 1,000 - - 285,227 (14,340) 270,887 (9,457)	Year to 31 Mar 24 £ 4,057 -
		4,057
		12,000 121,625 132,193 1,875 64,158 5,665
		325,516
		3,375 40 - 650
		4,065
		345,638
		141,674 7,107 15,299 376 14,076 1,422 73,148 8,786 66 859 - 15,371 4,920 870 9,863 - 54 650
		294,541 -
		294,541 51,097

This page does not form part of the statutory financial statements

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