HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY TRUSTEES, REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY NDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Page General Information Annual Report of the Trustees 24 Independent Exarniner's Report Statement of Financial Activities Statement of Financial Position Notes to the Flnancial Statements 8-13
HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MAY 2024 GENERAL INFORMATION HOLDING TRUSTEES: Mrs N C Diamond J C Luker W Willis loeased August 20231 A Taylor (Deceased September 20241 PRESIDENT: Simon William5 MANAGEMENT COMMIThEE: (TRUSTEES OF THE CHARITY) Jake T.Wlllett julie Huntington Mrsj E Smith Samantha Riley Bryan Villars FCA Harriet Jamieson Ann Jenkin Alex Staunton Hugh Legh Chair Vice-chalr Secretary Membership secretary Treasurer (Resigned July 20241 INDEPENDENT EXAMINER.. N M Smith BFP, ACA. CTA Villars Hayward LLP Chartered Accountanis, Registered Auditors and Chartered Tax Advisers Boston House Henley-on-Thames RG9 IDY REGISTERED CHARITY NO: 259404 PRINCIPAL OFFICE: clo Mrs J E Smith 13 Singers Close Henley-on-Thame5 RG9 IHD BANKERS: Barclay5 Bank plc leicester LE87 2BB CCLA Investment Management Limited COIF Charlty Fund5 85 Queen Victoria Street London EC4V 4ET Page I
HENLEY AMATEUR PERATIC & DRAMATIC SOCIETY ANNUAL REPORTOFTHETRUSTEES FOR THE YEAR ENDED31 MAY 2024 The Trustees present thelr report with the flnancial statements of the Charlty for the year ended 31 May 2024. Reference and Administration Information This information is provided on page l. Structure Governance and Mana ement Governing Document The society is a registered tharity. The charitws Initial trust document was amended on the 13 September 1995, and this sets out the objectives, constitution, membership, 5Jb5¢riptions, election, management and productions procedures. A new updated Constilution was approved at an EGM called for that purpose on 23 May 2011. Method5 tsf Recruiting undAppointing New fru5tees Under the governing amended trust document, the section relating to the Trustees determines that- lil up to four Holdin# Trustees shall be appointed by thè Chairman and Committee presently in office,. lill the Trustees ol the Charity (the Management Committee) shall be appointed annually by the Members of the Society at the Annual General Meeting, and the maximum number including Officers shall not exceed 14. Risk Man(7gement Major risk5 to which the charity is exposed have been identified. The Trustees regularly assess production budget controls and the financlal risks associated with any niajor expenditure for refurbishment and repair of property. Ob'ects and Artivities for the Public Benefit The objects of the Society are: to further the Operatic and Dramatic Arts. and to assist, by making donations, such charitable institutions as the Society shall frorn time to time dechde. Ibl The society seeks to fulfil its objectives by staging a variety of shows in which many amateurs and volunteers are involved, thus encouraging a variety of people into acting. The socSety also undertakes fundraising ventures both to support the productions undertaken and to obtaln money io pass to miscellaneous charitable causes. The members at the AGM detèrmlne the charitable causes and the amounts to be donated. The activities and management of the affairs and property of the Society by the Trustees shall be reviewed annually by the committee and a report submitted to the Members of the Society at the Annual General Meeting. Section 4 of the Charities Act 201112006 requires the charity trustees to comply with their duly to have due regard to the public benefit guidance published by the Charity Commission in exercising their power5 or duties. The trustees confirm that they have referred to this guidance when reviewlng the or8anisation's aims and objectives and in planninB future activities. Membership of the Society Is open to all member5 01 the community with an annual Subscription of £15. Acting members pay an additional fee for any productlons in which they are cast. Auditions are open to all and larger productions are normally staged al the Kenton Theatre. Henley-on-Thame5, Wlth tlckets available to all from the theatre box office. oiher Society activities and Smaller productions take place in the HAODS studio adjoining the Kenton Theatre. Page 2
ENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY ANNUAL REPORT OF THE TRUSTEES CONTINUED FOR THE YEAR ENDED 31 MAY 2024 Achlevements and Performancè The soclety had two disappointing year5 01 results after the CovSd lockdown with losses arising due io the large increase in costs, both in connection with the operation ol the Studio and in staging productions in Kenton Theatre. Action was taken with respect to running costs and hire rentals of the Studio, and it was deaded that ihe Soclety's financial situation should be stabilised before any more production5 were put on elsewhere. Three Studio productions were accordingly staged in thi5 financial year. Financial R Rents charged to hirers of the 5tudi9 5pBce were increased as forecast last year to a more economit level, although this has resulted in a temporary increase in the amounts due from some of our hirers, which they are clearing in the current period. The Studio productions were all profitable thi5 year and produced an overall surplus of £4,318, not including the bar profits whlch are always a bonus in the case of the dinner theatre, which this year was an episode of "Allo Allo- Plans for the Future In addition to more Studio produerions in the current year, the committee felt confldent enough to plan for a hire of the Kenton in November when they are planning to put on "Hairspray" It is also intended to improve the facllltles in the Studio by updating the equipment etc as soon as finance5 perrnit. Statement of Trustees, Res onsibilities The Trv5tee5 are requlred by the Charities Act 2011 to prepare financial statements for each finanoal year, whith give a true and lair view of the charlty's financial activities during the year and of Its financial position at the end of the year. In preparing those finarbcial statements. the trustees are required to.. to select suStable accounting policies and then apply them consistentlv,. make judgement5 and estimates that are reasonable and prudent,. state whether applicable accounting standards and statement5 of recommended practlce have been followed subject to any departures disclosed and explained in the financial statements,. and prepare the financial statements on the going Concern basis unless it is inappropriate to presume that the charity will Continue to operate. The TIu5tees are ¥esponsible lor keeping proper accounting records which disclose with reasonable accuracy at any time the linanclal position of the charity and enable them to ensure that the financial statement5 comply with the Charities Act 2011. They are also responsible for safeguarding ihe assets of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Page 3
HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY ANNUAL REPORT OF THE TRUSTEES CONTINUED FOR THE YEAR ENOED 31 MAY 2024 Rèserves Pollc It is the policy of the charity where possible to maintain unrestricted funds at a level which allows advance expenditure for each production prior to the receipt of ticket sales and the day-to-day admini5tratlon costs and chaiitable donations which may from time to time be agreed by the Trustee5. Inde endent Examiner The Trustees intend to ask the existing independent examiner to undertake the independent examination of the Charity in the followlng year. On behalf of the Board of Trustees.. Signed.. IHolding Trustee) Slgned.. Date: . 2024 B R Villar5 FCA (Treasurer) Page 4
HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF HENLEY AMATEUR OPERATIC & DRAMATIC SOCIETY I report on the financial 5taternents of the Trust lor the year ended 31 May 2024 which are set out on pages six to thirieen. Respectlve Responsibilities of Trustees and Examlner5 The charity's trusteès are responsible for the preparation of the financial statements. The charit(s trustees consider that an audit is not requlred for this year under section 144121 of the Charities Acl 2011 Ithe 2011 Act) and that an independent examination is needed. It is my responsibility to: examine the financial Statements under section 145 of the 2011 Act,. to follow the procedures laid down in the General Directions given by the Charity Commission under section 14515llbl of the 2011 Act. and to state whether particular matters have come to my attention. Ba515 of Independent Examlnerfs Report My examination was carried out in accordance with ihe General Dlrections given by the Charity Commlssion. An examination Sncludes a review of the accounting record5 kept by the charity and a comparison of the linancial statements presented wlth those records. It also includes consideration of any unusual items or disclosure5 in the linancial statement5, and seeking explanations from you as trtjstees concerning any su¢h matters. The procedure5 undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given a5 to whether the financial statement5 present a "true and fair view" and the report is limited to those matters set out in the statement below. Independent Examlnerfs Statement In connection with my examinatlon. no matter has come to my attention: which 8ives me reasonable cause to believe that in any material respect the requlrementS'. to keep accountlng records in accordance wlth section 130 of the 2011 Act,. and to prepare financial statements which accord with the actountlng records and to comply wlth the accounting requirement5 01 the 2011 Act have not been rnet: or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. N M Smith BFP, ACA CTA Villars Hayward LLP Chartered Accountants, Registered Auditors and Chartered Tax Adviser5 805ton House Henley-on-Thames RG9 IDY &FP, A-(4 cr* Date: 21 2?2f Page S
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIErY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME & EXPENDITURE ACCOUN FOR THE YEAR ENDED I MAY 2024 Uftrestricted Fund5 Total Fund5 2024 Total Funds 2023 General Fund Sludlo Fund Notes Income and endowments from: Donatlons and subscrlptlons Charitable activities Charitable actlvltles- prlor perlod Other tradlng activities Fund Rai5inB & Social Evenl5 Studio Investments 1.169 14,555 147 1,169 14,555 147 2,094 31,715 5,538 12,388 502 5.538 12,388 502 4,634 6,896 440 Total 34.299 34,299 45,779 Expenditure on.. Raislng funds Fund Ra1slng & Social Events Studio 2,317 13,230 2,317 16,122 2,213 16,112 2,892 Charitable Activities.. Theatrical Productions Administrative expenses 10.384 3.471 10,384 3,471 41,042 3,398 Total 129,4021 12.8921 132,2941 162,7651 Net lexpenditurelllncome 4,897 12,8921 2,OQS 116,9861 Transfers between fijnds 12,8921 2,892 Net Movement In funds 2,005 2.005 116,9861 ReconcllSatlon of Funds Total funds brought forward 8,979 127,829 136,808 153,794 Total funds carried forward 10,984 127.829 138,813 136,808 Page 6
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY STATEMENT OF FINANCIAL POSITI asat 31 MAY 2024 Notes 2024 2023 Flxed assetg Leasehold Land & Building5 Studlo Equipment io io 114,027 1,514 116,919 2,019 TotulFiMed 055ets 115,541 118.938 Current asset5 Debtors Prepayments- Future Productions Prepayments- Others Cash at Bank and In Hand 8,254 860 1.000 18,317 13.866 1.166 910 10,944 Total Current assets 28,431 26,886 Creditor5.' Amounts falling due within one year Creditors and accruals li 15,1591 19,0161 Net Current ussets 23,272 17,870 Total net assets 138,813 136,808 Fund5 of the charity: UNRESTRICTEO FUNDS General Fund Studio Fund 13 13 10,984 127,829 8,979 127.829 Total charity funds 138.813 136,808 Approved by the Board of Trustees on 2024 and signed on its behalf by Signed: IHolding Trustee) Slgned: (Treasurer) B R Villars FCA Page 7
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAV 2024 Accounting Pollcles lal Basis of Accountln8 The financial statements have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021-ICharitie5 SORP IFRS 10211. Henley Amateur Operatic and Dramatic Society meets the definition of a public benelit entity under FRS 102. Ibl Fund Accountlng Unrestricted funds The eeneral fund 15 available for use at the discrelion of the trustees In furtherance of the general objectives of the charltv. The Designated Studlo Fund is an unrestricted fund originally created by the trustees from donations for the constructlon of the buildlng and Sin augmented by transfers from the General Fund. Icl Intome Recognition Policies Items of income are recognised and included in the statement of Financial Activitie5 when all the followinB criteria are met.. The Charity has entitlement to the funds- Any perlorrnance conditions attached to the item(51 of Income have beèn met or are fully within the control of the Charity,. There 15 Sufficient certainty that the receipt of the income is considered probable, and The amount can be measured reliably. Income tax recoverable on interest recelved is recogntsed on the date the incorne is received. Idl Incomlng Resources All incoming resources other than subscriptions are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categorie5 of income.. Voluntary income is received by way of subscriptions and donations. Subscription income is credited to the statement of financial activities in ihe period when it is received. No adjustment is made in respect of subscriptions outstanding or received In advance. Donatlons are included in the statement of financial activities when receivable. Investment income is credited to income when receivable. Incomlng resources from charitable activities are accounted fo)r in the perlod when the production takes place. Income 15 deferred when admission lees are received in advance of the performances to which they relate. Page 8
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS CONTIN ED FOR THEYEAR ENDED 31 MAY 2024 lel Resources expended Liabilities are recognised as expendlture as 500n as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer ol economlc benefits will be required in settlement and the amount of the obligation tan be measured reliably. Expenditure is recognised on an accruals basis and Include5 VAT, which cannot be recovered, and Is reported as part ol the expenditure to which it Yelates.. Costs of generating funds compfise the costs associated with attracting voluntary income and the costs of fundraising. Charitable activities include the expenditure incurred in mounting theatrical productlons durin8 the vear and amounts donated to other charities as agreed by members at the AGM. (Q Tanglble Fixed Assets and Depreciation Fixed assets are slated at cost les5 accumulated depreeiation. The costs of minor additions are not capitalised. Depreciation is provlded at ihe following annual rates in order to write off each asset over it5 estimated useful life. Leasehold land Studio building Studio equipment over 50 year5 25% on the reducing balance No depreciation is deemed necessary by the trustees on leasehold land as it is considered that its residual value is higher than cost. The term of the lease was 999 years from 24 August 1982. Related party transactions and trustees. rernuneratlon No trustee received any remuneration as trustee5 during the year12023 £Nill. The Studio cleaning charges of £6,14812023- £5,229) were paid to a company owned by a Trustee- S Riley. Taxatlon The charity is exempt from Corporation Tax its charitable actlvlties. Donatlons & Subxrlptlons General Fund Studio Fund 2024 2023 Subscriptions Donations 669 500 669 500 2.094 1,169 1,169 2.094 Page 9
HENLEY AMATEUR OPERATICAND DRAMATI IETY NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 MAY 2024 Net IncomellExpenditurel 5. Fund Ra15in8 & Soclal Events Funds Expense5 2024 2023 Fund Ralsln Wardrobe Hire & Sales 160 160 265 Bar Sales 5,378 12,3171 3,061 1,805 Totol Fund Rui5ing 5,538 12,3171 3,221 2,070 Soclal Events Christm35 Partv 351 Toto15ocicfl Events 351 Total Fundraisin8 & Soci31 Events 5.538 12,3171 3,221 2,421 6. The Studio General Fund Studlo Fund 2024 2023 Income Rent/Hifings Equipment hlre 12,373 15 12,373 15 6,066 830 12,388 12.388 6,896 Ex enditure Cleaning Repairs & Renewa15 Insurance 6,383 890 970 2.214 434 138 1,696 505 6,383 890 970 2,214 434 138 1,696 505 2,892 5.229 3,334 925 1,537 500 175 847 673 2.892 Ga5 and Water SODC Rates Sundrie5 lincluding rubbish clearance) Depreciation of Equipment Depreciation of Studio Building 2.892 113,2301 12,8921 116,1221 116,1121 Net IDeficltl/Surplu5 18421 12.8921 13,7341 19,2161 Page 10
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY NOTE TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED31 MAY 2024 7. Studio Productions Excludln Bar Sal Death & The Malden Backstage Aladdin Allo Allo Total Income Ticket sales Production fees 1,579 1.554 9,915 1.507 13,048 1,507 1,579 1.554 11,422 14,555 Expenditure Commission. Toyalties and scripts Wardrobe & make-up Staging props Printing & publicitv Programmes Admin expenses 374 510 937 475 324 884 937 1,029 815 202 360 434 103 90 120 388 112 360 11,ooii 16201 12,6061 14.2271 C05t of catering 6,157 6,157 ii.ooii 16201 18.7631 110,3841 SurplusllDeficitl before adjustment 578 934 2,659 4,171 Further Income from earlier year. less sundry festival and irrecoverable costs 147 SurplusllDeflcltl after adjustment 578 934 2,659 4.318 8. In nt Ineome 2024 2023 Derived fTOm'. Interest on Dep051t Fund 502 440 9. Admlnlstratlve ex enses 2024 2023 Administration and Sundrie5 Subscriptions, Licentes & Insurances Independent Examiner's Fee5 Website Costs 591 800 1,777 303 468 901 1,789 240 3.471 3,398 Page 11
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 MAY2024 10. Tan Ible Fixed A55ets Leagehol(I Land and Building5 Studio Equlpment Totals COST At l June 2023 Additions/lDisposa151 in year 155,365 23,607 178,972 At 31 May 2024 155,365 23,607 178,972 DEPRECIATION At l June 2023 Charge lor the year 38,446 2,892 21,588 505 60,034 3,397 At 31 May 2024 41,338 22,093 63,431 NET BOOK VALUE At 31 May 2024 114.027 1,514 115.541 At 31 May 2023 116,919 2.019 118,938 All of the above assets are used in the furtherance of the Charity's objects. 11. Creditor5 and Accruals 2024 2023 Creditors Accruals 2,909 2,250 7.260 1,756 5,159 9,016 Page 12
HENLEY AMATEUR OPERATIC AND DRAMATIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 MAY 2024 12. Anal sls of Net Asset5 LlabSlltles between Fun Unrestrltted Funds Deslgnated Fund General Fund Studlo Fund Total Tangible Fixed Asset5 Cash at Bank and in Hand Debtors and prepayments Creditors and Accruals Interfund Indebtednes5 1,514 8,317 10,114 15,1591 13,8021 114,027 10,000 11S,S41 18,317 10,114 15,1591 3,802 Balante of fvnds at 31 May 2024 10,984 127,829 138.813 13. Funds At l June 2023 Transfers between Funds At 31 May 2024 Income Expenditure Unrestrlrted Funds General Fund5 DesSgnated Funds studio Fund 8,979 34,299 129.4021 12,8921 10,984 127,829 12,8921 2,892 127.829 136,808 34,299 132,2941 138,813 Pa8e 13