## WESSEX MUSICAL THEATRE
“STRATHMORE”
53 BOWLEAZE COVEWAY PRESTON WEYMOUTH DORSET DT3 6PL
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## WESSEX MUSICAL THEATRE
## 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 REFERENCE AND ADMINISTRATIVE DETAILS
PAGE I
## **President**
Mrs Hilary Langmead
## **Trustees**
Mrs Stella Brading (Chairman) Mrs Zoe Bamford (Secretary)
## **Treasurer**
Mrs Christine Mould
## **Committee Members**
Darrell Hounsome Tom Howden Shakira Beresford Mrs Hilary Langmead Michelle Tamplin Jon May Paul Brewster Mrs Sue Greenman Cate Steel Franz Atkinson
## **Press and Publicity Manager**
Angela Elliott (Publicity Manager) Graham Elliott (Production Manager)
## **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
WESSEX MUSICAL THEATRE
PAGE II
## TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
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 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 staged the Addams Family at Weymouth Pavilion in May, which was well received by the members of the public that came to watch. Unfortunately, the show did not contribute to the fundraising for the society, and we made a loss of approximately £18,000, one of the biggest losses that the society has ever made.
Fundraising over the summer was helped by performing at local events for which we received a fee. To try and recuperate some of the losses made by the Addams Family, it was decided by the committee that a lot of the expenditure for the annual Christmas Show would be scaled down. And again, by utilising booking sites such as Eventbrite, purchase of Sum Up to aid transactions and through targeted advertising on Facebook made a fantastic profit of £4,378, the highest ever profit achieved for a Christmas show. The show like always was well received by the Weymouth community.
AGM took place face to face and the Chairperson, Secretary and Treasurer remained in post.
It was decided, due to rising costs and to allow the society to remain buoyant, membership fees would be increased to £12 per month. As at December 2023 we had 64 subscribed members and this is expected to rise as the society is taking on the popular musical ‘Sister Act’, to be performed on the stage at ‘The Thomas Hardye School’ in 2024.
In September Anne Douglas stepped down from her post as Treasurer, I would like to thank her for all her hard work over the years. I hope that I can maintain all the good work that she has done.
## **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 ………………………2024 and signed on their behalf by:
…………………………….STELLA BRADING (CHAIRMAN) TRUSTEE
## WESSEX MUSICAL THEATRE PAGE III ACCOUNTANTS REPORT TO THE TRUSTEES ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
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 Taxation Advisers (FTA) 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 2023 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/28 February 2024/W600WCH400/LGD/KTSW
|WESSEX MUSICAL THEATRE
STATEMENT OF FINANCIAL ACTIVITIES FOR|THE YEAR|ENDED 31 DECEMBER 2023|PAGE IV
Total
Total
Funds
Funds
31.12.23 31.12.22|
|---|---|---|---|
|**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
12229
22840
727
13405
----------------
49201
----------------
-
44803
2639
----------------
47442
----------------
1759
125275
---------- ------
£127034
======= ====||
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
BALANCE SHEET AS AT 31 DECEMBER 2023|PAGE V
**As at**
**31 December 2022**
Notes
£
£
£
£
9
1037
1214
10
132904
121489
----------
----------
133941
122703
11
-
-
11748
21227
---------
---------
11748
21227
12
1000
1000
--------
---------
10748
20227
----------
---------
£144689
£142930
======
======
12448
21893
132904
121489
(663)
(452)
----------
----------
132241
121037
----------
----------
£144689
£142930
======
======|
|---|---|
|FIXED ASSETS
Tangible Assets
Investments
CURRENT ASSETS
Debtors
Cash at Bank and in Hand
CREDITORS:Amounts falling due
within one year
Net Assets
NET ASSETS
**The funds of the charity**:-
Restricted funds
Unrestricted funds
Other Reserves
Unrestricted Income Funds
Total Unrestricted Funds
TOTAL CHARITY FUNDS||
Approved by the Board on …………………………..2024 and signed on its behalf by:-
………………………………TRUSTEE
## WESSEX MUSICAL THEATRE
## INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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
WESSEX MUSICAL THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
PAGE VI
## 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
WESSEX MUSICAL THEATRE
PAGE VII
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## **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
£
3025
8654
550
--------------
£12229
==== ====
Unrestricted
Funds
£
22840
-----------------
£22840
===== ====
Unrestricted
Funds
£
£727
=== ====
Unrestricted
Funds
£
1990
11415
-----------------
£13405
===== ====|RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
3025
283
-
8654
7530
-
550
2234
------------------------------------------
£ -
£12229 £10047
======== ===============
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
22840
16082
-----------------------------------------
£ -
£22840 £16082
========================
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
£-
£727
£400
========================
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
1990
2160
-
11415 (12245)
-----------------------------------------
£-
£13405 £(10085)
========================|RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
3025
283
-
8654
7530
-
550
2234
------------------------------------------
£ -
£12229 £10047
======== ===============
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
22840
16082
-----------------------------------------
£ -
£22840 £16082
========================
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
£-
£727
£400
========================
RestrictedTotal Funds
Total
Funds 31.12.23 31.12.22
£
£
£
-
1990
2160
-
11415 (12245)
-----------------------------------------
£-
£13405 £(10085)
========================|
|---|---|---|---|
|||-----
===|Funds 31.12.23|
PAGE VIII
## WESSEX MUSICAL THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
|6.|TOTAL RESOURCES EXPENDED|||||
|---|---|---|---|---|---|
|||Investment|Shows & Governance Total|||
|||Income Performances||||
||||Etc.|||
|||£|£|£|£|
||**Direct costs**|||||
||Charitable Expenses|-|37618|-|37618|
||Establishment costs|-|5100|-|5100|
||Office expenses|-|-|71|71|
||Subscriptions and Licence fees|-|-|90|90|
||Donations|-|-|575|575|
||Advertising|-|-|220|220|
||Accountancy fees|-|-|1299|1299|
||Depreciation of tangible fixed assets|-|-|177|177|
||Insurance|-|2085|-|2085|
||Card Machine|-|-|-|-|
||Clothing Costs|-|-|-|-|
||Repairs|-|-|54|54|
||Sundry|-|-|102|102|
||Gifts|-|-|51|51|
|||--- ---------------------------------------- -------||||
|||£-|£44803|£2639|£47442|
|||== ============================||||
|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):-|||||
|||||2023|2022|
|||||£|£|
||Depreciation of owned assets|||177|214|
||Profit/Loss on disposal of investments|||11415|(12245)|
|||||=====|=====|
|9.|TANGIBLE FIXED ASSETS|||||
||||Furniture and Equipment|||
||||||£|
||**Cost**|||||
||As at 01 January 2023 and 31 December 2023||||7494|
||||||-------|
||**Depreciation**|||||
||As at 01 January 2023||||6280|
||Charge for the year||||177|
||||||-------|
||As at 31 December 2023||||6457|
||||||-------|
||**Net book value**|||||
||As at 31 December 2023||||£1037|
||||||====|
||As at 31 December 2022||||£1214|
||||||====|
PAGE IX
## WESSEX MUSICAL THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## 10. INVESTMENTS HELD AS FIXED ASSETS
|
**Market value**
As at 01 January 2023
Revaluation
As at 31 December 2023
**Net book value**
As at 31 December 2023
As at 31 December 2022
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|
|---|---|
||£
121489
11415
----------
132904
----------
£132904
======
£121489
======
2023
2022
£
£
£-
£ -
==
==
2021
2020
£
£
£1000
£1000
====
=====|
|**General Funds**
Unrestricted income fund
**Restricted Funds**
Investment Drawn Down
|At 01 January
2023
£
132930
10000
-----------------
£142930
==========|Incoming
Resources
£
49201
-
----------------------
£49201
=============|Resources
Expended
£
(47442)
-
--------------- -
£(47442)
=========|At 31
December
2023
£
134689
10000
--------------
£144689
========|
|---|---|---|---|---|
PAGE X
## WESSEX MUSICAL THEATRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
## 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
£
37
132904
300
(1000)
-----------------
£132241
==========|Restricted||Total Funds
Total
2023
2022
£
£
1037
1214
132904
121489
11748
21227
(1000)
(1000)
------------- ------------
£144689 £142930
= ======= =======|Total|
|||Funds
£
1000
-
11448
-
---------------
£12448
========|Funds||2022|