Digitally Signed Document Document ID: A1C4257D710A87
Document Details:
| Filename: | W471A-Charity accounts (draft)-AH-20240103- 122838-697.PDF |
|---|---|
| Client of: | A Hunter & Co |
Signature Details
| Name: | Nicky Brunell |
|---|---|
| Email: | nicky.brunell@gmail.com |
| Date & Time: | 10/01/2024 06:16:12 AM (GMT) |
| IP Address: | 86.150.30.236 |
| Signing Statement: | WOW Youth Musical Theatre CIO confirms that the information is correct and complete to the best of their knowledge and belief. |
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| On behalf of: | A Hunter & Co |
|---|---|
| PDF digital certificate: | IRIS Software Group Limited |
| Digital certificate issued by: | GlobalSign |
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REGISTERED COMPANY NUMBER: CE012800 (England and Wales) REGISTERED CHARITY NUMBER: 1176474
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
WOW Youth Musical Theatre CIO
A Hunter & Co Ltd Chartered Certified Accountants 61 St Thomas Street Weymouth Dorset DT4 8EQ
WOW Youth Musical Theatre CIO
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
WOW Youth Musical Theatre CIO
Report of the Trustees
for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted 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).
OBJECTIVES AND ACTIVITIES
Objectives and activities
In planning activities for the year, we considered the Charity Commission's guidance on public benefit. The core focus of our activities remains to offer young people, aged 10 to 18, opportunities to develop their life skills and talent through the art of musical theatre, performed to the highest standards. We have a limited number of places each year for new members and these are selected at audition, having only regard to their ability to sing, dance and act. We work to ensure that financial circumstances are not a barrier to joining WOW or participating in our activities.
WOW's Trustees give freely of their time to enable rehearsals and productions to happen. Additional volunteers provide invaluable support in areas such as fundraising, costumes and backstage.
WOW continues to be affiliated to the Dorset Youth Association, which provides helpful advice as well as access to the Disclosure and Barring Service for checks on our volunteers.
Main activities
WOW celebrated its 40th anniversary in 2022 with a production of 'Grease the Musical' in April and a compilation 'WOW Show' in November, both directed and choreographed by Martine Burt. The 40th Anniversary WOW Show received four National Operatic and Dramatic Association award nominations for the Southwest region and won the award for Company Movement and Dance.
Bucket collections from these two shows enabled WOW to donate £340 to the United Nations Children's Fund and £300 to the Young Minds mental health charity. WOW's cabaret group also performed in support of local charities including, Weymouth Rotary's Fayre in the Square, Weymouth and Portland Lions' Club Christmas Show and the Multiple Sclerosis Society.
WOW continued to provide free loans of professional sound equipment to schools for their performances, saving them significant hire fees. Current and former WOW members also benefitted from free access to our studio to rehearse and record pieces for their courses and College auditions.
WOW improved ventilation in the building with the installation of four roof lights in the rehearsal space and the repair of the downstairs sash windows. This work was undertaken to reduce the risk of transmission of COVID-19 and other airborne viruses and to help protect everyone's health.
Financial 2022/2023
Income of £84,118 from the two shows accounted for 85 per cent of WOW's incoming resources of £98,478. Spending of £74,053 on core charitable creative activities, principally production costs, including advertising, accounted for 75 per cent of the total expenditure of £95,023. A significant proportion of the £10,385 spent on repairs and maintenance was to improve ventilation in the building for a healthier working environment. WOW's net income for the period was £3,455.
Page 1
WOW Youth Musical Theatre CIO
Report of the Trustees
for the Year Ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE012800 (England and Wales)
Registered Charity number
1176474
Registered office
18 Southill Garden Drive Weymouth Dorset DT4 9UP
Trustees
A McKechan Miss Z Stockley Mrs J Stockley Mrs N Brunell Mrs C Taylor (resigned 28.9.22) Mrs J Hurdiss R Pattinson Mrs K Purnell Ms S Lucken Ms M Moore Ms L J B Baldwin (appointed 8.6.22)
Company Secretary
Independent Examiner
A Hunter & Co Ltd Chartered Certified Accountants 61 St Thomas Street Weymouth Dorset DT4 8EQ
Approved by order of the board of trustees on 3 January 2024 and signed on its behalf by:
A McKechan - Trustee
Page 2
Independent Examiner's Report to the Trustees of WOW Youth Musical Theatre CIO
Independent examiner's report to the trustees of WOW Youth Musical Theatre CIO ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity'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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Alison Hunter
A Hunter & Co Ltd Chartered Certified Accountants 61 St Thomas Street Weymouth Dorset DT4 8EQ
3 January 2024
Page 3
WOW Youth Musical Theatre CIO
Statement of Financial Activities for the Year Ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities General Other trading activities 2 Investment income 3 Other income Total EXPENDITURE ON Raising funds Charitable activities General Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.23 Unrestricted fund £ 10,346 800 87,275 57 - 98,478 989 94,034 95,023 3,455 198,402 201,857 |
31.3.22 Total funds £ 4,759 2,740 14,052 - 14,906 |
|---|---|---|
| 36,457 | ||
| - 20,550 |
||
| 20,550 | ||
| 15,907 182,495 |
||
| 198,402 |
The notes form part of these financial statements
Page 4
WOW Youth Musical Theatre CIO
Balance Sheet
31 March 2023
| Notes FIXED ASSETS Tangible assets 7 CURRENT ASSETS Debtors 8 Cash at bank CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.3.23 Unrestricted fund £ 141,930 7,185 53,333 60,518 (591) 59,927 201,857 201,857 201,857 201,857 |
31.3.22 Total funds £ 142,996 6,682 49,364 56,046 (640) 55,406 198,402 198,402 198,402 198,402 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 5
continued...
WOW Youth Musical Theatre CIO
Balance Sheet - continued
31 March 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 3 January 2024 and were signed on its behalf by:
A McKechan - Trustee
The notes form part of these financial statements
Page 6
WOW Youth Musical Theatre CIO
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
Page 7
continued...
WOW Youth Musical Theatre CIO
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
2. OTHER TRADING ACTIVITIES
| Fundraising events Shop income The WOW Show Grease 3. INVESTMENT INCOME Deposit account interest 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.3.23 £ 2,100 1,057 28,361 55,757 87,275 31.3.23 £ 57 31.3.23 £ 1,066 |
31.3.22 £ 17 - 14,035 - |
|---|---|---|
| 14,052 | ||
| 31.3.22 £ - 31.3.22 £ 1,255 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 4,759 |
| Charitable activities | |
| General | 2,740 |
| Other trading activities | 14,052 |
| Other income | 14,906 |
| Total | 36,457 |
EXPENDITURE ON
Page 8
continued...
WOW Youth Musical Theatre CIO
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Charitable activities General NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. TANGIBLE FIXED ASSETS COST At 1 April 2022 and 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Freehold property £ 135,433 - - - 135,433 135,433 |
Fixtures and fittings £ 12,335 5,227 1,066 6,293 6,042 7,108 |
Computer equipment £ 455 - - - 455 455 |
Unrestricted fund £ 20,550 15,907 182,495 198,402 Totals £ 148,223 5,227 1,066 6,293 141,930 142,996 |
|---|---|---|---|---|
Page 9
continued...
WOW Youth Musical Theatre CIO
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 10. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 198,402 TOTAL FUNDS 198,402 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 98,478 TOTAL FUNDS 98,478 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 182,495 TOTAL FUNDS 182,495 |
31.3.23 £ 7,185 31.3.23 £ 591 Net movement in funds £ 3,455 3,455 Resources expended £ (95,023) (95,023) Net movement in funds £ 15,907 15,907 |
31.3.22 £ 6,682 31.3.22 £ 640 At 31.3.23 £ 201,857 201,857 Movement in funds £ 3,455 3,455 At 31.3.22 £ 198,402 198,402 |
|---|---|---|
Page 10
continued...
WOW Youth Musical Theatre CIO
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 36,457 | (20,550) | 15,907 |
| TOTAL FUNDS | 36,457 | (20,550) | 15,907 |
| A current year 12 months and prior year 12 months combined position is as follows: | |||
| Net | |||
| movement | At | ||
| At 1.4.21 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 182,495 | 19,362 | 201,857 |
| TOTAL FUNDS | 182,495 | 19,362 | 201,857 |
| A current year 12 months and prior year | 12 months combined | net movement in fund | |
| included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 134,935 | (115,573) | 19,362 |
| TOTAL FUNDS | 134,935 | (115,573) | 19,362 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Page 11
continued...
WOW Youth Musical Theatre CIO
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 12
WOW Youth Musical Theatre CIO
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (1) | - |
| Donations | 3,447 | 1,174 |
| Subscriptions | 6,900 | 3,585 |
| 10,346 | 4,759 | |
| Other trading activities | ||
| Fundraising events | 2,100 | 17 |
| Shop income | 1,057 | - |
| The WOW Show | 28,361 | 14,035 |
| Grease | 55,757 | - |
| 87,275 | 14,052 | |
| Investment income | ||
| Deposit account interest | 57 | - |
| Charitable activities | ||
| Hall Hire | 800 | 905 |
| Grants | - | 1,835 |
| 800 | 2,740 | |
| Other income | ||
| Theatre Tax credit | - | 14,906 |
| Total incoming resources | 98,478 | 36,457 |
| EXPENDITURE | ||
| Other trading activities | ||
| Purchases | 989 | - |
| Charitable activities | ||
| Show Production costs | 69,274 | 5,898 |
| Rehearsal Pianist | 1,749 | 2,318 |
| Music Scores and Costumes | 127 | - |
| 71,150 | 8,216 | |
| Support costs |
This page does not form part of the statutory financial statements
Page 13
WOW Youth Musical Theatre CIO
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Support costs | ||
| Management | ||
| Advertising | 168 | - |
| Finance | ||
| Bank charges | 145 | 35 |
| Human resources | ||
| Depreciation of tangible fixed assets | 1,066 | 1,254 |
| Other 2 | ||
| Rates and water | 77 | 175 |
| Insurance | 2,273 | 2,682 |
| Advertising | 2,903 | 500 |
| Light and heat | 2,033 | 1,596 |
| Telephone | 309 | 343 |
| Postage and stationery | 597 | 32 |
| Hall Cleaning | 512 | 793 |
| Repairs and Maintenance | 10,385 | 1,355 |
| Rent | 360 | 555 |
| 19,449 | 8,031 | |
| Other 3 | ||
| Sundries | 687 | 399 |
| Gifts and Donations | 970 | - |
| 1,657 | 399 | |
| Governance costs | ||
| Accountancy and legal fees | 399 | 395 |
| Legal fees | - | 2,220 |
| 399 | 2,615 | |
| Total resources expended | 95,023 | 20,550 |
| Net income | 3,455 | 15,907 |
This page does not form part of the statutory financial statements
Page 14