**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
continued...
Page 3
|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
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 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: .............................................
Page 4
## 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
Page 5
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.
continued...
Page 7
## 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.
continued...
Page 8
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|
continued...
Page 9
Page 9
continued...
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|
|---|---|
continued...
Page 10
## Romsey Amateur Operatic and Dramatic Society (RAODS)
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
|**8.**
**TANGIBLE FIXED ASSETS**Plaza 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|
continued...
Page 11
## 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|
Page 12
## 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
Page 13