## Worcester Musical Theatre Company 


## Report of the Trustees and 

## Financial Statements 

For the Year Ended 31[st] December 2022 



## Registered Charity Number 1186651 

## **Worcester Musical Theatre Company CIO** 

## **Report of the trustees for the year ended 31[st] December 2022** 

## **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** 

I would just like to thank you for your attendance tonight and before we commence the rest of our procedures, I would like you all to take a few moments to think about friends that we have lost since our last AGM and thank them all for their contributions to this group over the years. 

Let’s start with our last show “Don’t Stop Believing this proved to be another great success. We managed to donate £1,600 towards our chosen charity Guide Dogs. 

“It didn’t matter how little or how much of the show you did, or what you did, whether it be being a director, chorus, crew, front of house, dancer, singing, musical director or band member, you were still part of a fantastic team that produced such an amazing and emotional rollercoaster of a show and brought Val Knights dream to life” Congratulations. 

Congratulations to you all and thank you for being a part of it. 



May I also take this opportunity to thank our President, this role is outside the formal Charity appointment’s and are purely voluntary but essential to the success of the group, our auditor Hayley Tally for all her efforts and our Life Members. They all deserve recognition for their achievements, and I propose that they continue in their roles. 

Finally, may I express my personal thanks to the Trustees of the committee for their dedication towards the success of Worcester Musical Theatre Company. 

We now we look forward to our next show “Movin On Up” Welcome 

Chairman of Trustees, 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 2022 

## **Worcester Musical Theatre Company Registered Charity: 1186651** 

## **PRODUCTION ACCOUNT** 

||**PRODUCTION ACCOUNT**||
|---|---|---|
|Year ended||Year ended|
|31st December||31st December|
|2021||2022|
|**Happy**||**Don’t Stop**|
|**Together**||**Believing**|
|£|||
||**INCOME**||
|28,883|Ticket sales|30,712|
|841|Programme Sales|797|
|100|Programme advertising|550|
|725|Sponsor a Song|800|
|132|Scripts|70|
|126|Miscellaneous income|150|
|**30,807**||**33,079**|
||**EXPENDITURE**||
|5,620|Theatre hire|5,850|
|2,889|Box office commission|3,039|
|3,906|Band|4,028|
|1,213|Performing rights|456|
|985|Costumes|2,041|
|929|Scenery|1,109|
|1,314|Lighting|2,110|
|1,803|Sound|2,209|
|91|Properties|238|
|775|Rehearsal room|1,418|
|1,344|Publicity|1,355|
|500|Choreography|1,200|
|176|Hospitality|50|
|1,110|Programme costs|1,385|
|625|Insurance|0|
|431|Photocopying|499|
|1,130|Storage|1,440|



**24,841** 

**28,427** 



## **Main Account** 

||**Main Account**||
|---|---|---|
|Year ended||Year ended|
|31st December 2021||1st December 2022|
|£|**INCOME**|£|
|**5,966**|Production surplus|**4,625**|
|950|Members subscriptions|1,035|
|200|Grants/Donations|4,380|
|686|HMRC Charities|0|
|1,656|Show Raffle|1,562|
||Fundraising|853|
||Noda Badges|682|
|**9,458**||**13,137**|
||**EXPENDITURE**||
|887|Insurance|622|
|100|Other donations||
|72|NODA subscription/badges|702|
|77|Bank charges|72|
|40|Data protection|35|
|40|Lottery License|20|
|341|Miscellaneous expenditure|478|
|2,000|Charity Donations|1,600|
|**3,557**||**3,529**|
|**5,901**|**SURPLUS FOR THE YEAR**|**9,508**|





## **BALANCE SHEET** 

As at 31st December 2021 

## **CAPITAL  ACCOUNT** 

|24,521<br>Balance brought forward<br>Surplus for the year<br>Balance carried forward<br>**REPRESENTED BY**<br>Cash at bank<br>**NET CURRENT ASSETS**|24,521<br>9,508<br>34,502<br>34,129<br>34,129|
|---|---|



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 :6[th] February 2023