## Worcester Musical Theatre Company ## Report of the Trustees and Financial Statements For the Year Ended 31[st] December 2021 Registered Charity Number 1186651 **Worcester Musical Theatre Company CIO** ## **Report of the trustees for the year ended 31[st] December 2021** ## **Governance and Management** ## **Governing Document** The Charity is governed by a constitution registered on 28[th] November 2019. ## **Recruitment and Appointment of the Trustees** At every subsequent annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office and are eligible for re-election. ## **Related Parties** The Charity is guided by both local and national policy in so far as it follows the Charity’s objectives. ## **Objectives** The objects of the CIO 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 further such Charitable Institutions and Charitable purpose as the trustees shall time to time determine. ## **Chairs Report** In its previous incarnation as a registered charity, Worcester Musical Theatre Company had staged its show “Celebrate the Season” at The Swan Theatre, Worcester from 12[th ] to 16[th] November 2019, and, in its new incarnation as a CIO, it was intended to stage the next one, “Happy Together,” at The Swan from 3[rd ] to 8[th] November 2020. This proved impossible due to the Coronavirus lockdowns, however, slightly revised, it was finally staged between 9[th] and 14[th] November 2021, having, during the transition out of lockdown during May 2021 been partly rehearsed in the car park of the Perdiswell Young Peoples Leisure Club, to the interest of passing motorists, and, after two years apart, the show was aptly named. In anticipation of smaller audiences due to Covid, grants were sought from various sources and were kindly provided by several Worcester City councillors and by the Claines United Charities Fund. In the event the show generated a financial surplus, enabling donations of £1,000 each to be made to the two sponsored charities, Perdiswell Young People’s Leisure Club Inclusion Club and The Royal British Legion. The show was an artistic success, with a cast of 38 plus 24 dancers from Harlequin Stage School, guest appearances by the 25 strong cast of “Titanic the Musical” in memory of a past member, and standard bearers from the Royal British Legion in the Remembrance section, and it enabled 37 children from the Claines C.E. and Wilden All Saints Primary Schools to experience performing live in a theatre. With 5 members of the band, and about 60 people backstage and front of house this will have been one of the largest shows to have taken place at The Swan, and it also won a special NODA award. The company’s next show “Don’t Stop Believing” will be staged at The Swan from 8[th] to 13[th] November 2022, and there is a provisional booking at The Swan for the period 5[th] to 12[th] November 2023, possibly the last one at this venue if a mooted move of the theatre to a city-centre location takes place. David Rippe David Rippe Chairman of Trustees, 27 June 2022 ## **Public Benefit** In planning our activities for the year, the trustees kept in mind the Charities Commission guidance on public benefit. ## **Financial Review** The Charity continues to be dependent upon sales of ticket fees with no guaranteed income stream and this has been identified as a major risk area for the CIO continued existence. ## **Core Reserves Policy** The Trustees aim to accumulate sufficient restricted reserves to cover normal operating expenses for six months should funding cease. It is, however, anticipated that this reserve will be depleted on occasions such that shorter period of expenses would be covered. Use of core reserves: - 1. To support funds, grants until expected monies are actually cleared. 2. To cover unexpected costs on a one-off basis. All decisions regarding the use of the core fund will be made by the trustees with a minimum attendance of 3 people and a majority decision. ## **Trustees’ responsibilities in evaluation to the financial statements.** The trustees are responsible for preparing the Trustees’ report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the CIO and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - _select suitable accounting policies and then apply them consistently_ - _observe the methods and principles of the Charities SORP_ - _make judgements and estimates that are reasonable and prudent_ - _state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements_ - ● _prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue to operation._ The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Reports Regulations 2008) and the trust deed. They are also responsible for safeguarding the assets of the CIO and hence for taking responsible steps for the prevention and detection of fraud and other irregularities. Statement of Financial Activities For the Year to 31[st] December 2021 ## **Worcester Musical Theatre Company Registered Charity: 1186651** ## **PRODUCTION ACCOUNT** ||**PRODUCTION ACCOUNT**|| |---|---|---| |Year ended||Year ended| |31st December||31st December| |2020||2021| |||**"Happy**| |**"No Show"**||**Together"**| |£||£| ||**INCOME**|| |0|Ticket sales|28,883| |0|Programme Sales|841| |0|Programme advertising|100| |0|Sponsor a Song|725| |0|Scripts|132| ||Donations and miscellaneous|| |0|income|126| |0||| |**0**||**30,807**| ||**EXPENDITURE**|| |0|Theatre hire|5,620| |0|Box office commission|2,889| |0|Band|3,906| |0|Performing rights|1,213| |0|Costumes|985| |0|Scenery|929| |0|Lighting|1,314| |0|Sound|1,803| |0|Properties|91| |0|Rehearsal room|775| |0|Publicity|1,344| |0|Choreography|500| |0|Hospitality|176| |0|Programme costs|1,110| |0|Insurance|625| |0|Photocopying|431| ||Storage|1,130| |**0**||**24,841**| Surplus before donations 5,966 ## **Main Account** ||**Main Account**|| |---|---|---| |Year ended||Year ended| |31st December 2020||1st December 2021| |£|**INCOME**|£| |0|Production surplus after
donations|**5,966**| |0|Members subscriptions|950| |0|Grants|200| |0|HMRC Charities|686| ||Show Raffle|1,656| |**0**||**9,458**| ||**EXPENDITURE**|| |244|Insurance|887| |0|Other donations|100| |0|NODA subscription|72| |54|Bank charges|77| |0|Data protection|40| |0|Lottery License|40| |30|Miscellaneous expenditure|341| ||Charity Donations|2,000| |**328**||**3,557**| |**-328**|**SURPLUS FOR THE YEAR**|**5,901**| ## **BALANCE SHEET** As at 31st December 2021 ## **CAPITAL ACCOUNT** |18,948
Transferred from registered
charity
Balance brought forward
-328
Surplus for the year
18,620
Balance carried forward
**REPRESENTED BY**
18,620
Cash at bank
(Un-presented Charity
Donations)
Total current assets
0
Advance ticket sales
18,620
**NET CURRENT ASSETS**|18,620
5,901
24,521
26,521
-2,000
24,521
24,521| |---|---| I can confirm that, having examined the various vouchers and records kept, the above statement of receipts and payments presents an accurate picture of the financial activities of Worcester Musical Theatre Company CIO: 1186651 Hayley Tally Independent Examiner Dated :4[th] February 2022