## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) ## “STRATHMORE” 53 BOWLEAZE COVEWAY PRESTON WEYMOUTH DORSET DT3 6PL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) ## CONTENTS I REFERENCE AND ADMINISTRATIVE DETAILS II TRUSTEES’ REPORT III ACCOUNTANTS’ REPORT IV STATEMENT OF FINANCIAL ACTIVITIES V BALANCE SHEET VI NOTES TO THE FINANCIAL STATEMENTS VII NOTES TO THE FINANCIAL STATEMENTS – Continued VIII NOTES TO THE FINANCIAL STATEMENTS – Continued IX NOTES TO THE FINANCIAL STATEMENTS – Continued X NOTES TO THE FINANCIAL STATEMENTS – Continued WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) REFERENCE AND ADMINISTRATIVE DETAILS PAGE I ## **President** Julie Sheldon ## **Trustees** Mrs Stella Brading (Chairman) Mrs Judie Sheldon (Secretary) Mrs Janet Slate ## **Treasurer** Miss Anne Douglas ## **Committee Members** Paul Beecroft Sally Chittick Jason Hodder Meryl Hodder Darrell Hounsome Tom Howden Mrs Hilary Langmead Emily Mallen David Pickard (Production Manager) ## **Press and Publicity Manager** Angela Elliott Graham Elliott ## **Bankers** Lloyds Bank plc 92 St Mary Street WEYMOUTH Dorset DT4 8PA ## **Accountants** Casterbridge Hardy LLP “Strathmore” 53 Bowleaze Coveway Preston WEYMOUTH Dorset DT3 6PL Website: www.casterbridgehardy.co.uk Email: info@casterbridgehardy.co.uk ## **Independent Investment Advisors** A W D Chase de Vere Wealth Management Limited 11 Seven Dials Bath BA1 1EN REGISTERED CHARITY: 262890 PAGE II ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The officers of the committee shall be elected for a three year period and are eligible for re-election. The Management Committee Members (other than officers) shall serve for a maximum period of three years. One lady and one gentleman of the Management Committee shall retire annually and shall not be eligible for reelection for one year. The Annual General Meeting was held on 09 May 2022. The charity was established by Trust Deed dated 18 August 1971, and is registered with the Charity Commission Number 262890. Its registered address is “Strathmore” 53 Bowleaze Coveway, Preston, Weymouth, Dorset DT3 6PL. ## **Objects 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 donate funds when considered possible or practical for charitable purposes. - (a) To promote plays, drama, comedies, operas, operettas and other dramatic and operatic works of educative value. - (b) acquire and obtain interests in the copyright of, or the right to perform or show, any such dramatic or operatic work. - (c) To purchase or otherwise acquire plant, machinery, furniture, fixtures, fittings, scenery and all other necessary effects. - (d) To raise funds and invite and receive contributions from any person or persons whatsoever by way of subscription, donation and otherwise: provided that the Society shall not undertake any permanent trading activities in raising funds. - (e) To do all such things as shall further the objects of the Society. ## **Review of the year** The Society continued into 2021 with uncertainty due to Covid although it was anticipated that we would stage Oliver at the Pavilion Theatre having had to postpone this in 2020. However continuing restrictions meant that we had to reluctantly cancel the show. As a result, we did recoup the majority of our losses through our insurance but nonetheless there was expenditure for which this was not possible. Our AGM once again took place virtually and we gained additional committee members. The Chairperson, Secretary and Treasurer remained in post. Due to tremendous efforts of our members, we were able to participate in the summer at the Nothe Fort Event which helped to boost our coffers and we were delighted that we could follow this up with our Xmas Show “Very Merry Musicals” in December which was well received. By utilising booking sites such as Eventbrite and through targeted advertising on Facebook we maximised our ticket sales and this enabled our funds to remain buoyant throughout the year. Our membership has dropped during the year and as at December 2021 we have retained 56 subscribed members though this is expected to rise significantly in 2022 due to our ability to do what we all love and perform! ## **Public benefit** As required by section 4 of the Charities Act 2011, the trustees have considered the guidance published by the Charity Commission in respect of public benefit. They believe that the Charity’s objects, as set out above, fall within the definition of the charitable purposes set out in section 2 of the Act and the activities set out above contribute to the meeting of those objectives. Approved by the Trustees on ………………………2022 and signed on their behalf by: …………………………….STELLA BRADING (CHAIRMAN) TRUSTEE ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) PAGE III ACCOUNTANTS REPORT TO THE TRUSTEES ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the Financial Statements of the charity which comprise the Statement of Financial Activities, and the related notes from the accounting records and information and explanations you have given to us. This report is made to the Charity’s Board of Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the Financial Statements that we have been engagement to compile, report to the Charity’s Board of Trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Board of Trustees, as a body, for our work or for this report. We have carried out this engagement in accordance with technical guidance issued by the Institutes of Financial Accountants (IFA), the Association of International Accountants (AIA), the Association of Accounting Technicians (AAT), and Federation of Tax Advisers (FAT) we are subject to its ethical and other professional requirements which are detailed at www.ifa.org.uk and www.aiaworldwide.com and www.aat.org.uk You have acknowledged on the Balance Sheet as at 31 December 2021 your duty to ensure that the charity has kept proper accounting records and to prepare Financial Statements that give a true and fair view under the Charities Act 2011. You consider that the charity is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the Financial Statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the Financial Statements. Casterbridge Hardy LLP Financial and International Accountants, Taxation Specialists and Business Advisors “Strathmore” 53 Bowleaze Coveway Preston WEYMOUTH Dorset DT3 6PL RBW/24 March 2022/W600WCH400/LGD/KTSW |WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021|WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021|WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021|PAGE IV

Total
Total
Funds
Funds
31.12.21 31.12.20| |---|---|---|---| |
STATEMENT OF FINANCIAL ACTIVITIES FOR|
THE YEAR||| |**Income Resources**
Incoming resources from generated funds
- Voluntary income
- Activities for generating funds
- Investment income
Other incoming resources
Total incoming resources
**Resources expended**
Costs of generating funds
- Investment management costs
Charitable activities
Governance costs
Total resources expended
Net movements in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|Notes
2
3
4
5
6
6
6|Unrestricted
Funds
7801
11638
454
15938
----------------
35831
----------------
1794
6088
2559
----------------
10441
----------------
25390
115811
---------- ------
£141201
======= ====|| All incoming resources and resources expended derive from continuing activities. The charity has no recognised gains or losses for the year other than the results above. ## **The notes on pages VIII to XII form an integral part of these financial statements.** |WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH|WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH|OPERATIC SOCIETY)|PAGE V|PAGE V| |---|---|---|---|---| |BALANCE SHEET AS AT 31 DECEMBER 2021||||| |||||**As at**| ||||**31 December 2020**|| ||Notes|£
£|£|
£| |FIXED ASSETS||||| |Tangible Assets|9|1428||1680| |Investments|10|133734|
|118976| |||----------|
|----------| |||135162|
|120656| |CURRENT ASSETS||||| |Debtors|11|-|-|| |Cash at Bank and in Hand||24554|13670|| |||---------|---------|| |||24554|13670|| |CREDITORS:Amounts falling due||||| |within one year|12|860|860|| |||--------|---------|| |Net Assets||23694||12810| |||----------|
|---------| |NET ASSETS||£158856|
|£133466| |||======|
|======| |**The funds of the charity**:-||||| |Restricted funds||22393||11396| |Unrestricted funds||||| |Other Reserves||133734|118976|| |Unrestricted Income Funds||2729|3094|| |||----------|----------|| |Total Unrestricted Funds||136463|
|122070| |||----------|
|----------| |TOTAL CHARITY FUNDS||£158856|
|£133466| |||======|
|======| Approved by the Board on …………………………..2022 and signed on its behalf by:- ………………………………TRUSTEE ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. ACCOUNTING POLICIES 2. VOLUNTARY INCOME 3. ACTIVITIES FOR GENERATING FUNDS 4. INVESTMENT INCOME 5. OTHER INCOMING RESOURCES 6. TOTAL RESOURCES EXPENDED 7. TRUSTEES’ REMUNERATION AND EXPENSES 8. NET (OUTGOING)/INCOMING RESOURCES 9. TANGIBLE FIXED ASSETS 10. INVESTMENTS HELD AS FIXED ASSETS 11. DEBTORS 12. CREDITORS: Amounts falling due within one year 13. RELATED PARTIES 14. ANALYSIS OF FUNDS 15. NET ASSETS BY FUND PAGE VI ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ## 1. ACCOUNTING POLICIES **Basis of preparation** The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice ‘Accounting and Reporting by Charities (SORP2005)’, issued in March 2005, applicable accounting standards and the Charities Act 2011. ## **Fund accounting policy** Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Further details of each fund are disclosed in note 14. ## **Incoming resources** Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income derived from events is recognised as earned (that is, as the related goods or services are provided). Investment income is recognised on a receivable basis. ## **Resources expended** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of generating funds are investment management fees. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Governance costs** Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional or constitutional matters. ## **Fixed assets** Individual fixed assets costing £0 or more are initially recorded at cost. ## **Depreciation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:- Furniture and equipment 15% per annum Reducing Balance method PAGE VII ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ## **Investments** Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end. ## 2. VOLUNTARY INCOME |**Donations and legacies**
Donations
Subscriptions
Other income
3.
ACTIVITIES FOR GENERATING FUNDS
**Shows and performances**
Charitable Activities
4.
INVESTMENT INCOME
Investment income
5.
OTHER INCOMING RESOURCES
Gift Aid Grant with Interest
Unrealised profit/(loss) from revaluation|Unrestricted
Funds
£
187
7170
444
--------------
£7801
==== ====
Unrestricted
Funds
£
11638
-----------------
£11638
===== ====
Unrestricted
Funds
£
£454
=== ====
Unrestricted
Funds
£
1180
14758
-----------------
£15938
===== ====|RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
187
-
-
7170
7895
-
444
660
------------------------------------------
£ -
£7801
£8555
======== ===============
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
11638
624
-----------------------------------------
£ -
£11638
£624
=================== ====
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
£-
£454
£545
=================== ====
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
1180
-
-
14758
(560)
-----------------------------------------
£-
£15938
£(560)
=================== ====|RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
187
-
-
7170
7895
-
444
660
------------------------------------------
£ -
£7801
£8555
======== ===============
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
11638
624
-----------------------------------------
£ -
£11638
£624
=================== ====
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
£-
£454
£545
=================== ====
RestrictedTotal Funds
Total
Funds 31.12.21 31.12.20
£
£
£
-
1180
-
-
14758
(560)
-----------------------------------------
£-
£15938
£(560)
=================== ====| |---|---|---|---| |||-----
===|Funds 31.12.21| ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) PAGE VIII NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |6.|TOTAL RESOURCES EXPENDED||||| |---|---|---|---|---|---| |||Investment|Shows &Governance||
Total| |||Income Performances|||| ||||Etc.||| |||£|£|£|£| ||**Direct costs**||||| ||Charitable Expenses|-|2688|-|2688| ||Establishment costs|-|2357|-|2357| ||Office expenses|-|-|406|406| ||Subscriptions and Licence fees|-|-|668|668| ||Donations|-|-|25|25| ||Advertising|-|-|473|473| ||Accountancy fees|-|-|987|987| ||Legal and professional fees|1794|-|-|1794| ||Depreciation of tangible fixed assets|-|252|-|252| ||Insurance|-|791|-|791| |||------ ---------------------------------------- -------|||| |||£1794|£6088|£2559|£10441| |||==== ======================= ====|||| |7.|TRUSTEES’ REMUNERATION AND EXPENSES||||| ||No trustees received any remuneration during the year.||||| |8.|NET (OUTGOING)/INCOMING RESOURCES||||| ||Net (outgoing)/incoming resources is stated after charging/(crediting):-||||| |||||2021|2020| |||||£|£| ||Depreciation of owned assets|||252|297| ||Profit/Loss on disposal of investments (Loss 2020)|||14758|(560)| |||||=====|====| |9.|TANGIBLE FIXED ASSETS||||| ||||Furniture|and Equipment|| ||||||£| ||**Cost**||||| ||As at 01 January 2021 and 31 December 2021||||7494| ||||||-------| ||**Depreciation**||||| ||As at 01 January 2021||||5814| ||Charge for the year||||252| ||||||-------| ||As at 31 December 2021||||6066| ||||||-------| ||**Net book value**||||| ||As at 31 December 2021||||£1428| ||||||====| ||As at 31 December 2020||||£1680| ||||||====| ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) PAGE IX NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |10.
INVESTMENTS HELD AS FIXED ASSETS

**Market value**
As at 01 January 2021
Income from Revaluation
As at 31 December 2021
**Net book value**
As at 31 December 2021
As at 31 December 2020
11.
DEBTORS
Prepayments and accrued income
12.
CREDITORS: Amounts falling due within one year
Trade creditors
13.
RELATED PARTIES
**Controlling entity**
The charity is controlled by the trustees.
14.
ANALYSIS OF FUNDS|Listed Investments|Listed Investments|Listed Investments| |---|---|---|---| |||£
118976
14758
----------
133734
----------
£133734
======
£118976
======
2021
2020
£
£
£-
£ -
==
==
2021
2020
£
£
£860
£860
===
===|| ||||£
£ -
==
2020| ||||£
£860
===| |**General Funds**
Unrestricted income fund
**Restricted Funds**
Investment Drawn Down
|At 01 January
2021
£
123466
10000
-----------------
£133466
==========|Incoming

Resources
£
35831
-
----------------------
£35831
=============|Resources
Expended
£
(10441)
-
--------------- -
£(10441)
=========|At 31
December
2021
£
148856
10000
--------------
£158856
========| |---|---|---|---|---| ## WESSEX MUSICAL THEATRE (FORMERLY THE WEYMOUTH OPERATIC SOCIETY) PAGE X NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ## 15. NET ASSETS BY FUND |NET ASSETS BY FUND|||||| |---|---|---|---|---|---| |Tangible assets
Investments
Current assets
Creditors: Amounts falling due within one year
Net assets|Unrestricted
Funds
£
43
133734
3546
(860)
-----------------
£136463
==========|Restricted||Total Funds
Total
2021
2020
£
£

1428
1680

133734
118976

24554
13670

(860)
(860)
------------- ------------
£158856 £133466
= ======= =======|Total| |||Funds
£
1385
-
21008
-
---------------
£22393
========|Funds||2020|