**CHARITY REGISTRATION NUMBER** : **1200177**
## **RAOS MUSICAL THEATRE COMPANY**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2024**
**RAOS MUSICAL THEATRE COMPANY**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
## **CONTENTS**
||**Page**|
|---|---|
|**Reference and administrative details**|**1**|
|**Trustees’ annual report**|**2 - 4**|
|**Independent Examiner’s report to the trustees**|**5**|
|**Statement of financial activities**|**6**|
|**Balance sheet**|**7**|
|**Notes to the financial statements**|**8- 13**|
**RAOS MUSICAL THEATRE COMPANY**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2024**
**REGISTERED CHARITY NAME**
RAOS Musical Theatre Company
**CHARITY** 1200177 **REGISTRATION NUMBER**
**REGISTERED OFFICE** Ripon Arts Hub **AND OPERATIONAL** Allhallowgate **ADDRESS** Ripon HG4 1LQ
## **TRUSTEES**
The trustees who served during the year and since the year end were as follows:
Linda Aikman Michelle Freeman Nadia Murrell Tina Salden (appointed 8 August 2024) Colin Fine (appointed 8 August 2024) Eleanor Holroyd (appointed 8 August 2024)
## **BANKERS**
Virgin Bank 7 Gold Street Northampton NN1 1EN
## **INDEPENDENT EXAMINER**
Neil Adshead FCA Creative Tax Reliefs Ltd Image House Farm, Sandy Lane, Lathom nr Ormskirk L40 5TU
1
**RAOS MUSICAL THEATRE COMPANY**
## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The RAOS Musical Theatre Company is a charitable incorporated organisation (CIO) and a registered charity, number 1200177. The governing constitution was adopted on 6[th] June 2022.
## **OBJECTIVES AND ACTIVITIES**
To educate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said arts, to assist and further such charitable institutions and charitable purposes as the executive committee shall from time to time determine.
The CIO consists of acting and non-acting members, junior members, patrons and life members and is heavily dependent on a significant number of volunteers, most of whom are acting or nonacting members and parents of children who are past or current members of the society.
The CIO owns its own hall in Ripon (Ripon Arts Hub) and uses this to further promote arts to the public, hosting a variety of arts events, which are open to all.
The trustees have had regard to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charity and in planning future activities.
## **ACHIEVEMENTS AND PERFORMANCE**
We began our 2023/24 season with performances of Matilda by the Youth Theatre Group at the Hub. The adult production of Sister Act was performed at the Harrogate Theatre in April and our final performance of the year was SIX, by some of our older Youth Theatre members.
Although our Youth productions are performed in the hub, which has limited audience capacity, both productions were able to make a small profit, which considering the escalating costs for organisations generally, this is no mean feat. Our production of Sister Act, albeit more expensive than some of our previous adult productions, was well attended and received, resulting in a healthy profit, in comparison to previous shows.
We have also seen an increase in bookings the Hub, as the awareness of the venue and its facilities has increased around Ripon District. This has resulted in an increased income, which supports the running and maintenance of the building. In addition we were able to reduce our operating costs for the Hub, through a change in utilities suppliers.
Our new status of CIO has enabled us to secure some grant funding and submit our first TTR claim, which was successful. This additional funding and income has put us in a position to be able to initiate the renovation works required, to the backstage area, to support our Youth and Disabled performers. This work will be commencing in February 2025.
2
**RAOS MUSICAL THEATRE COMPANY**
**TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024**
## **FINANCIAL REVIEW**
Our financial security has increased, throughout the year, due to increased regularity of bookings at the venue, 3 successful productions, grant awards and TTR funds. The CIO will continue to keep sufficient funds from previous activities to fund the working capital required for future shows, together with a minimum of 3 month’s overheads and maintenance expenses of our hall.
## **Reserves policy**
The reserve figure will be increased to £40,000 in consideration of continued increases in production and operation costs, to ensure we continue to have sufficient working capital to protect the company. The remainder of the funds we have raised this year will be used to invest in the venue, to improve the facilities for Young and Disabled performers.
No funds are in deficit from our previous reserve positions.
3
RAOS MUSICAL THEATrE COMPANY
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGU 2024
STATEMENT OF TRUStEES' RESPONSIBIUTIES
The chartty trustees are responsible for preparing a trustees. annual report and financial statements
in accordance wwth applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial
statements foreach year which give a true and fairview of the state of affairs of the charity and of the
incoming resources and application of resOUrs. of the charity for that period. In preparin8 the
financial statements, the trustees are required to=
select surtable accounting poliaes and then apply them consistentty-
observe the methods and pritxiples in the applicable CharitiesSORP-
make judgements and estimates that are reasonable and prudent-,
• state whether applThble accountin8 stsndards have been followed, subiect to any material
departures that must be disclosed and explained in the financial statements;
prepare the financial statements on the going COnM basis unless it is inappropriate to
presume that the chartty will continue in business.
The trustee5 are responsible for keeping proper accounting records that disclose with asonable
accuracy at any time the financial posttion of the charity and to enable them to ensure that the
financial statements comply with the Charities Art 2011, the applicable CharÈties IAccounts and
Reports) Regulations, and the provisions of the trust deed. They are also responsible for safeguarding
the assets of the charty 3nd taking reasonable steps for the preventton and detection of fraud and
other irregutartties.
By order of the board of trustees
Linda Aikman
Trustee
Dated: 16 December 2024
**RAOS MUSICAL THEATRE COMPANY**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES RAOS MUSICAL THEATRE COMPANY**
**On accounts for the year** 31 August 2024 **Charity no** 1200177 **ended Set out on pages** 6 to 13
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the period ended 31 August 2024.
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
**Responsibilities and basis of** I report in respect of my examination of the Trust’s accounts carried out under **report** section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
**Independent examiner's** I have completed my examination. I confirm that no material matters have come **statement** to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- 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.
**Signed: Date:** 16 December 2024 **Name:** Neil Adshead **Relevant professional FCA. Institute of Chartered Accountants in England and Wales qualification(s) or body: Address:** Creative Tax Reliefs Ltd Image House Farm, Sandy Lane, Lathom nr Ormskirk L40 5TU
5
**RAOS MUSICAL THEATRE COMPANY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 AUGUST 2024**
||||||Unrestricted
funds
£||Restricted
funds
£||Total funds
2024
£||Unrestricted|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||and Total
funds|
|||Notes|||||||||2023|
||||||||||||£|
||**INCOME FROM:**|||||||||||
||Donations and legacies|2|||600||4,000||4,600||278,943|
||Charitable activities|3|||93,662||-||93,662||67,163|
||Other income|4|||10,449||-||10,449||-|
||Bank interest||||620||-||620||38|
|||||||||||||
||**Total**||||105,331||4,000||109,331||346,144|
|||||||||||||
||**EXPENDITURE ON:**|||||||||||
||Charitable activities|5|||54,879||-||54,879||37,365|
||Support and governance|7|||25,069||-||25,069||34,094|
|||||||||||||
|||||||||||||
||**Total**||||79,948||-||79,948||71,459|
|||||||||||||
|||||||||||||
||**NET INCOME**||||25,383||4,000||29,383||274,685|
|||||||||||||
||TOTAL FUNDS BROUGHT
FORWARD||||274,685||-||274,685||-|
||TOTAL FUNDS CARRIED FORWARD||||300,068||4,000||304,068||274,685|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
6
RAOS MUSICAL THEATRE COMPANY
BAIANCE SHE
AS AT 31 AUGUST 2024
Note
Unrestricted
funds
Restricted
funds
Totsl
funds
Total
fund5
2023
FIXED ASSETS
Tangible assets
216,187
216.187
216,187
216.187
221.261
221,262
CURRENT ASSEfs
stock
Debtor5
Cash at bank and in han
Total wrrent assets
3C
5.035
84.232
89.567
21K)
3,760
50.123
54,083
io
5.035
80.232
85,567
LIABIUMES
Crèditors:
Amounts tdllingdue within one year
NET CURRENT ASSETS
li
1.686
83.881
87,881
53.423
TOTALASSETS LESS CURREKf LIABIUTIES
274.685
YOTAL NET ASSErs
3(.(kn8
304.068
274.685
THE FUND5 OF THE CHARITY
FUNDS
12
Itest¥LCted funds
unrestritted funds
General funds
3(K),068
274,685
Total charlty fvnds
304,068
274,685
These financial statements were approved by the trustee5 and authorised for issue on 16
December 2024, and are slgned on behalf of the board bv:
Nadia Murrell
TNstee
The notes on pages 8 to 13 fomi part ofthese accounts
**RAOS MUSICAL THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2024**
## **1. Accounting Policies**
## **General information**
RAOS Musical Theatre Company is a charitable incorporated organization (CIO) registered with the Charity Commission in England & Wales. The office address is Ripon Arts Hub, Allhallowgate, Ripon HG4 1LQ.
The CIO was formed on 6 June 2022
## **1.1 Accounting convention**
These financial statements have been prepared in accordance with the charity’s constitution, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Public benefit entity**
The charity meets the definition of a public benefit entity under FRS 102.
## **1.4 Fund accounting**
Unrestricted funds are funds that can be used in accordance with the objectives of the charity at the discretion of the trustees.
## **1.5 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
For donations to be recognised the charity will have been notified of the amounts. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
8
**RAOS MUSICAL THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
Income from government and other grants, whether ‘capital grants or revenue grants’, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. Where a grant is received for a specific purpose, it is included in restricted income and any unexpended portion carried forward as a restricted fund.
## **1.6 Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. All expenditure was incurred in carrying out the charitable activity of the charity, including the costs of operating.
The charity is not registered for VAT and therefore all expenditure is recorded inclusive of VAT.
There were no employees during the year.
## **1.7 Taxation**
The charity is exempt from corporation tax on its charitable activities. The charity is not registered for VAT.
## **1.8 Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Freehold land and buildings Not depreciated Furniture and equipment 20% per annum
Depreciation is not provided on freehold land and buildings as they are maintained to a high standard and have such a long expected useful life that any depreciation charge is not considered material.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
9
**RAOS MUSICAL THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **2 DONATIONS AND LEGACIES**
|**2**
**DONATIONS AND LEGACIES**||||||
|---|---|---|---|---|---|
||Unrestricted|Restricted|Total||Total|
||funds|funds|2024||2023|
||£|£|£||£|
|||||||
|Donation from Ripon Amateur|-|-|-||275,121|
|Operatic Society||||||
|Other donations|100|-|100||3,322|
|Grants (see note 12)|-|4,000|4,000||-|
|Gift aid|500|-|500||500|
||600|4,000|4600||278,943|
|||||||
|**3**
**INCOME FROM CHARITABLE ACTIVITIES**||||||
||||2024||2023|
||||£||£|
|Performance income|||60,480||42,511|
|Subscriptions|||4,727||3,927|
|Merchandise|||2,716||30|
|Hall Income|||25,121||20,320|
|Other|||618||375|
||||93,662||67,163|
|||||||
|**4**
**OTHER INCOME**|||2024||2023|
||||£||£|
|Theatre tax relief claim|||10,449||-|
|||||||
|**5**
**CHARITABLE ACTIVITIES COSTS**||||||
|||||||
||||2024||2023|
||||£||£|
|||||||
|Production costs|||47,471||37,365|
|Bar purchases|||6,978||-|
|Ticket fees|||430||-|
||||54,879||37,365|
|**6**|
**TRUSTEES' EXPENSES**|
|---|---|
||No trustee received remuneration for their services during the year (2023, NIL)|
||One trustee was reimbursed expenses of £32 for costumes (2023, £1336 for bar stock and £24 for hoodies).|
10
**RAOS MUSICAL THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **7 SUPPORT AND GOVERNANCE COSTS**
|||||Support
costs
£||Governance
costs
£||Total
2024
£||Support
costs
£||Governance
costs
£||Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||2023|
|||||||||||||||£|
|||Premises costs||2,687||-||2,687||3,955||-||3,955|
|||Insurance||3,500||-||3,500||1,637||-||1,637|
|||Utilities||6,229||-||6,229||13,699||-||13,699|
|||Telephone||509||-||509||591||-||591|
|||Marketing||2,467||-||2,467||2,911||-||2,911|
|||Merchandise||-||-||-||493||-||493|
|||Loss on asset disposal||-||-||-||315||-||315|
|||Depreciation||5,075||-||5,075||4,966||-||4,966|
|||Donations||-||-||-||500||-||500|
|||Professional fees||-||294||294||-||2,151||2,151|
|||Accountancy||1,620||660||2,280||-||660||660|
|||Subscriptions||245||-||245||690||-||690|
|||Website||504||-||504||1,255||-||1,255|
|||Sundry||1,279||-||1,279||271||-||271|
|||||24,115||954||25,069||31,283||2,811||34,094|
## **8 TANGIBLE FIXED ASSETS**
|**8**
**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
||Freehold land|
Furniture
and|||
||and buildings|
equipment||Total|
||||||
|**COST**|£|£||£|
|At 1 September 2023|||||
|and at 31 August 2024|201,582|23,968||225,550|
||||||
|**DEPRECIATION**|||||
|At 1 September 2023|-|4,288||4,288|
|Charge foryear|-|5,075||5,075|
|At 31 August 2024|-|9,363||9,363|
|**NET BOOK VALUE**|||||
||||||
|At 31 August 2023|201,582|19,680||221,262|
|At 31 August 2024|201,582|14,605||216,187|
11
**RAOS MUSICAL THEATRE COMPANY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
|**9**
**STOCK**|**9**
**STOCK**|||2024|||2023
£
200
2023
£
-
995
2,765
3,760
2023
£
-
660
660|
|---|---|---|---|---|---|---|---|
|||||£||||
|||||||||
|Bar stock||||300||||
|||||||||
|**10**
**DEBTORS**||||||||
|||||2024||||
|||||£||||
|||||||||
|Trade debtors||||250||||
|Prepayments||||3,785||||
|Gift aid receivable||||1,000||||
|||||5,035||||
|||||||||
|**11**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||||||
|||||2024||||
|||||£||||
|||||||||
|Deferred income||||1026||||
|Accruals||||660||||
|||||1686||||
|||||||||
|**12**
**MOVEMENT IN FUNDS**||||||||
|||||||||
||At|Incoming||Resources|||At|
||01/09/2023|resources||expended|||31/08/2024|
||£|£||£|||£|
|||||||||
|**Unrestricted funds**||||||||
|General fund|274,685|105,331||79,948|||300,068|
|||||||||
|**Restricted funds**||||||||
|K Hargreaves Trust|-|1,000||-|||1,000|
|Two Ridings CommunityFoundation|-|3,000||-|||3,000|
||-|4,000||-|||4,000|
|||||||||
|**Total funds**|274,685|109,331||79,948|||304,068|
Both restricted funds are restricted to supporting better backstage access for disabled performers and improve changing and toilet facilities
|**For the period ended 31/08/23**||||
|---|---|---|---|
||Incoming|Resources|At|
||resources|expended|31/08/2023|
||£|£|£|
|||||
|**Unrestricted funds**||||
|General fund|346,144|71,459|274,685|
12
**RAOS MUSICAL THEATRE COMPANY**
# **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **13 RELATED PARTY DISCLOSURES**
Michelle Freeman, a trustee, was paid £2,116 (2023, £195) for cleaning services
13