Axminster Drama Club Financial Statement
for the period From 23[rd] June 2022 To 31[st] March 2023
Prepared by Treasurer
Tim Leat June 2023
Axminster Drama Club Charity Number: 1199423
SUMMARY
On 22[nd] June Axminster Drama Club (ADC) become a Charitable Incorporated Organisation (ADCCIO)and following this change was assigned new charity registration number of 1199423.
ADC started the financial year 2022/23 with total assets of £26,268.21 and no outstanding liabilities. This included a credit of £495.00 for licence paid to perform Mona Jn. This sum cannot now be recovered and if we wished to perform this musical a new licence would have to be applied for. Therefore, for the purpose of these accounts this is being written off as an asset and carry forward figure therefore reduced to £25,773.21 . An omission was made from last years accounts in that at year end a cash float of £55 was held by Treasurer. This was banked during year and is recorded in income receipts. At year end no cash sums were held.
In addition to the above the main asset of Axminster Drama Club is the Plaza and its contents. The premise is currently insured for a sum of £612,570 and contents £10,000 in addition to the club having Public Liability cover of £5 million via policy held with Ansvar Insurance. In addition to this the club holds NODA insurance covering all aspects of show production. The true market value of The Plaza and our extensive collection of costumes, props and scenery is almost impossible to evaluate hence value no longer being shown in accounts. It may however now be worthwhile in attempting assessment of replacement costs of all contents of the Plaza to assess if current cover is sufficient.
The final accounts of ADC show the cash assets of the club being transferred to ADCCIO as
Plaza Account £16,003.59 Technical Account £ 1,017.05 General Account £ 4,720.54
Total £22,741.18
Together with the Plaza and all contents.
During this period ADCIO staged two musicals Elf in December 2022 and Matilda Jr in March 2023 in addition to continuing to maintain and improve The Plaza including much needed replacement of fire doors and door to rear of building to help both security of building and access to the Guildhall (total cost being £1,894.14 with balance paid in April).
These accounts show all general income and expenditure of Axminster Drama Club for period 23[rd] June 2022 to 31[st] March 2023 in addition to the following:
-
Income and expenditure for Elf The Musical
-
Income and expenditure for Matilda The Musical received/paid for the period to 31[st] March 2023.
All show fees are included as general income rather than being allocated against individual shows as part of fee covers cost of NODA insurance and membership and general running costs of club. General “running costs” of club for whole financial year 2022/2023 was £6,000 and income generated from show fees, donations and hire income just under £1,500 leaving a sum of approximately £4,500 to be raised from productions or other income sources with improvements to Plaza being funded from capital resources.
Due to change of status of club and timing of productions, especially postponement of Nativity, income and expenditure has been spilt over several years for productions undertaken. For clarification therefore listed below are net results for each of the above productions in turn
- Nativity The Musical suffered a total loss of £1,839.98.
N.B. Extent of loss was reduced by application of Covid Grant received.
-
Because of Love suffered a small total loss of £50.12.
-
Elf The Musical made a total profit of £166.37.
N.B. This including deposit of £500 paid during 2021/22
- Matilda The Musical (ADC Youth) made a total profit of £478.74.
N.B. This including income and expenditure to be shown in 2023/24 accounts,
but no expenditure for previous year.
The net result of the above is a loss of £1,244.99 on these four productions this, taking into account, grant offset against Nativity costs which otherwise would have led to a larger loss. Disregarding Nativity profit for three productions for year was £594.99.
T.M. Leat Treasurer Axminster Drama Club July 2023
General Income and Payments
Receipts Payments
General
General
Show Fees
Elf The Musical 290.00
Matilda The Musical 585.00 875.00
Donations from hire of costumes Properties and sound and lighting 265.00
Donations in lieu of membership fee received. 40.00
Bank interest 61.73
Plaza Electricity 2,449.50 Plaza Water 178.26 Plaza Insurance 821.70 Administration 65.69 Bank charges 45.82 AGM costs 48.37
Website costs 136.80
Total 1,241.73
Total 3,746.14
Summary of productions for year making proft
| As per summaries below Elf The Musical 666.37 Matilda The Musical 5,569.11 Total 6,235.48 |
Past and Intended Productions Deposit for One Man Two Guvnors paid 102.90 Total 102.90 Unallocated Production Expenses Paint purchases for general use 278.39 Total 278.39 Plaza Improvements for year Skip hire costs 90.00 Replacement fre doors 1,500.00 Total 1,590.00 |
|||
|---|---|---|---|---|
Total 7,477.21
Elf The Musical – Income
Ticket Sales 9,222.95 Raffle Profit 240.51
Total 5,717.43 Profit for year 1,759.78 Total 7,477.21
Elf The Musical - Expenditure Licencing and Scripts 2,480.37 Guildhall Hire 1,185.00 Lighting and Sound 4,021.79 Publicity Costs 255.20 Set Costs 424.61 Costumes 366.72 Misc Costs 63.40
Total 9,463.46
Less show expenditure as shown 8,797.09
Show Profit 666.37
NB Accounts needs to be taken of deposit off £500 for licence paid in previous year.
Total Matilda The Musical – Income 8,797.09 Ticket Sales 7,536.97
Fund Raising – Chocolate Stall 125.00
Matilda The Musical – Expenses Guildhall Hire 1,065.00 Lighting and Sound Nil Publicity Costs 280.80 Set Costs 371.68 Costumes 256.46
Misc Costs 68.57 Raffle Purchases 50.35 Total 7,661.97 Less show expenditure as shown 2,092.86 Show Profit 5,569.11 NB Account needs to be taken of £495.00 paid for licensing and script fee previously paid Summary of Assets as 31st March 2023 Total 2,092.86 Plaza Account 14,561.52 Technical Account 1,245.01 General Account 8,750.52 24,557.05 Summary of Liabilities as at 31st March 2023 Brought forward as per Summary No outstanding liabilities 22,741.18 exist as at year end. Plus Profit for period 1,759.78 Plus unallocated income
56.09 24,557.05 NB Loan to Guildhall of £2,816.04 to be recovered