## Treasurer’s Report (2023 Accounts) to BCS AGM April 24th 2024 This report should be read in conjunction with the figures contained in the 2023 BCS accounts spreadsheet which details the accounts and adds comparison with 2022 financial year accounts. The surplus over the year, although significantly less than recent years, does mean that the BCS reserves now sit over £60,000 built up through surpluses over the past 4 years – a “comfortable” level to maintain financial stability for the Society. We planned and delivered two “high cost” concerts in 2023, the magnificent Verdi Requiem event in March and the Carmina Burana event in the smaller surroundings of St Matts, Widcombe. 2023 was the first year that we didn’t hold our “banker” Messiah concerts in December – despite that a strong financial performance from the Bach Christmas Oratorio in December enabled us to rein back some of the losses from concerts over the year. The majority of concerts lose the Society money so the planning and budget setting season to season continues to be important and the balance of performing rewarding choral works v audience appetite v cost of performance will always be a tricky one and will impact the reserves. However, more positively speaking, the choir has grown in terms of membership (maintaining levels over 100 strong) with still more people interested in joining – the membership income assists us in terms of matching costs of rehearsing and performing; in addition, we are still indebted to individual donations that were apparent to minimise losses for the Verdi concert for instance. The other regular “lifeline” is the HMRC Gift Aid tax rebate on choral membership income that we apply for and receive each year. In terms of the costs incurred, there were increases in professional costs in staging of concerts together with rises in the room hire and other “general” costs. 2024 is proving already to be financially challenging – we have retrospectively been charged a Performing Rights Society fee (over £700) from the Christmas Oratorio libretto – this charge is an unwelcome cost burden to the Society – we will need to factor these charges into future concert events. Although the recent Haydn and Mozart concert was a success musically, the loss on this concert was well over £3,000 – attributable to lower audience and increased costs. We are seeing new cost increases from April 2024 to factor into budgets and planning and despite the welcome Messiah concerts at the end of the year which will hopefully attract a decent surplus in line with previous events, then the 2024 financial performance is predicted to be only a modest surplus. As a result of this, and in order to maintain the reserves at a “baseline” position, we are proposing to increase the choral membership fees by approximately 5% from September 2024. As well as countering the “general” cost increases from outside the choir, we are proposing to raise the fees for our musical professionals (Music Director and Accompanist) from September 2024 - their fees have not increased during times of high overall inflation. In practical terms, the increase is £3 per term per member. However, the proposal is to freeze this level of membership fees for three years pending the membership levels being maintained and financial performance of the Society during this period matching appropriate level of reserves – this can be reviewed annually at the AGMs if exceptional financial circumstances determine a change to this approach. I wanted to use this opportunity to thank the Society membership for their cooperation to make my job so much easier in terms of payments and response to queries. Online banking has made information much more readily available to provide account details and updates, pay bills and to spot any issues to be rectified. As someone who is still working full time, the “24 hour access” and very limited need to enter a bank branch is a real benefit! The independent auditor also can be supplied with the relevant information digitally to ease the process of the Charity commission annual examination. I will be exploring ways to improve things with the relevant committee approvals – considering purchase of a second card reader for concert purposes (to maximise programme sales as cash availability seems to be diminishing generally); also exploring “deposit account” options to incur better interest income for the Society. The accounts have been independently and expertly examined and I commend them to you for your perusal and approval before submission to the Charity Commission in due course. I am, of course, willing to answer any questions you may have – please be so kind as to e-mail me at michael_ledbury@yahoo.co.uk, phone me on 07899 717572 or catch me in person if you would like anything more specific. ## 2024 AGM Motions to be voted on: 1. To accept the annual BCS financial accounts for 2023 2. To approve the Committee’s proposal that the subscription for choral members be increased from £171 to £180 for the 2024-2025 season and maintained at this level until the end of the 2026-2027 season. 3. To approve the following options for payment: - a. One payment of £180 if paid in full (cheque or preferably bank transfer) by 30[th] September 2024 - b. Instalments of either: - i. 3 x post-dated cheques of £60 presented upfront - first to be dated before or latest 30[th] September 2024, second dated 1[st] Dec 2024, final dated 1[st] Mar 2025 - ii. 3 x ebank transactions of £63 to be paid into the BCS Unity Bank Account on or before the following dates: 30[th] September 2024, 1[st] Dec 2024, 1[st] Mar 2025 Mike Ledbury Hon. Treasurer April 2024 ## **Bath Choral Society Accounts for the year ending 31st December 2023** |**Income and Expenditure**
**Concerts**
see details below
**Music/folders**
**Tour 2024**
deposit #1
**Social events**
2022 meal - June 2022 (inc donations)
Deposit for 2023 meal
2023 meal
Welcome back socials (Sept)
**BCS Workshop events**
**Bach B minor workshop (St Matts) - Mar 22**
hire charge
professional costs - guest conductor,
accompanist, MD
Income - Admission/donations
**Verdi Requiem workshop (St Matts) - Nov 22**
hire charge
professional costs - guest conductor,
accompanist
other costs
Income - Admission/donations
**Bach Christmas Oratorio workshop (St**
**Swithins) - Nov 23**
hire charge
professional costs - conductor, accompanist
other costs
Income - Admission/donations
**Subscriptions**
Choral Members
Gift Aid tax refund
**Other Income**
Bank Interest (NSI account)
Donations to BCS
Other
**Incomes total**
**General expenditures**
**Promotion**
Flyers and posters inc design
Electronic advertising
Web site
**Other**
**Rehearsal related costs**
Music Director fees
Guest conductor fees
Accompanist fees
Room hire - masterclass
Rehearsal room hire||**2023**|||**2022**|| |---|---|---|---|---|---|---| ||Income
£38,564
£1,187
£2,500
£1,670
£90|Cost
-£41,047
-£1,400
-£2,400
-£1,686
-£60|**Net**
**-£2,483**
**-£213**
**£100**
-£16
£29|Income
£41,341
£1,270
£1,190
£470
£114|Cost
-£37,475
-£1,348
-£1,150
-£470
-£58|**Net**
£3,866
**-£78**
£40
£0
£56| ||£1,760
£1,300|-£1,746
-£305
-£700|**£13**
**£295**
**£21,465**
**£501**|£1,774
£845
£1,593|-£1,678
-£175
-£860
-£225
-£600
-£18|**£96**
**£560**
**£18,226**
**£1,532**| ||£1,300
£18,396
£3,069|-£1,005
-£538
-£350||£2,438
£14,863
£3,363|-£1,878
-£300
-£487
-£403|| ||£21,465
£8
£493
£0|||£18,226
£1
£1,526
£5||| ||£501
_£67,276_|||£1,532
_£66,580_||| |||||||**£24,202**
**-£1,190**
**-£10,817**| ||||||-£1,190
-£6,167
-£2,230
-£2,420|| |**Recruitment of new MD - July to Oct 2022**
Hire of rooms
Professional costs - W Dawes/G Bevan
candidate expenses/other
Bank charges (Unity)
NFMS subscription
NFMS insurance
Gifts given by BCS
Miscellaneous costs
Bursary related costs (singing lessons)
**Expenditure total**
**Total Outcome**
**Supported by Reserves**
Opening Bank balances
Surplus / Deficit for the year
Closing Bank balances|-£72
-£392
-£151
£0
-£76
-£300|**-£991**
**-£14,431**
**£5,260**
£56,155
£5,260
**£61,415**|-£444
-£480
-£381
-£72
-£365
-£143
-£250|**-£1,305**
**-£830**| |---|---|---|---|---| ||-£991
_-£62,029_||-£830
_-£56,520_|| |||||**-£14,142**| |||||**£10,061**| |||||£46,094
£10,061| |||||**£56,155**| Page 2 of 4 ## **Notes to the accounts** The Society reports its financial position using Receipts and Payments Its main asset is an upright piano with an estimated value of £2,500. The Society do not believe it is appropriate to make any provision for depreciation of the piano. |**Bank balances by account**
Unity Trust Current account
NS&I Deposit account
**Concerts summary**
**Concerts summary**
**Income**
**Cost**
**Bach - Mass in B Minor April 31st**
Venue charge (Bath Abbey)
Professional costs
Ticket sales (Secretary/door/BBO)
Agency costs - (10% BBO ticket sales)
Agency costs - (printing, ads, email)
Programmes (printing and revenue)
Publicity/printing/gift soloists
Donations - Paragon/anonymous
**2023**|**31-Dec-23**
£53,102
£8,313
**£61,415**|**31-Dec-22**
£47,849
£8,306| |---|---|---| |||**£56,155**| |||| ||**2022**|| ||**Net**
**Income**
**Cost**
**Net**
-£3,355
-£9,986
£10,010
-£751
-£84
£389
-£332
-£305
£3,600|| |**Total**|£13,999
-£14,813
-£814|| |**American Tunes - Summer 22 (CANCELLED)**
Venue charges (St Swithins)
Professional costs
Ticket sales (waiver of refunds)
Agency costs (10% BBO ticket sales refunded)
publicity|-£245
£0
£245
-£25
-£296|| |**Total**|£245
-£566
-£321|| |**Messiah - December 2/3**
Venue charge (Bath Abbey)
Professional costs
Ticket sales (Secretary/door/BBO)
Agency costs - (10% BBO ticket sales)
Agency costs - (printing, ads, email)
Programmes (printing and revenue)
Publicity/printing/gift soloists
Advert(inprogramme - Bath Opera)|-£5,630
-£12,644
£25,777
-£2,367
-£125
£840
-£502
-£343
£40|| |**Total**
£0
£0|£0
£26,657
-£21,611
£5,046|| |**Verdi Requiem - 4/3**
Ticket sales & Publicity costs
£440
-£485
-£45
Venue charge (Bath Abbey)
-£3,475
Professional costs
-£13,857
Ticket sales (Secretary/door/BBO)
£15,310
Agency costs - (10%+VAT comm + ads/printing)
-£1,565
Programmes (printing and revenue)
£594
-£431
gift soloists
-£40
donations - anonymous
£1,400||| |**Total**
£17,304
-£19,368
-£2,064
£440
-£485
-£45||| |**Carmina Burana - 17/6**
Venue charges (St Matt's Widcombe)
-£418
Professional costs
-£4,787
Ticket sales (Secretary/door/BBO)
£3,645
Agency costs (10%+vat + ads)
-£365
programmes (cost and sale)
£151
-£93
publicity/printing/gift soloist
-£530||| |**Total**
£3,796
-£6,193
-£2,396
£0
£0
£0||| |**Christmas Oratorio - 1/12**
Venue charges (Bath Abbey)
-£3,432
Professional costs
-£7,993
Page 3 of 4||| |Ticket sales (Secretary/door/BBO)|£15,766|||||| |---|---|---|---|---|---|---| |advertising revenue|£30|||||| |Agency costs (10% BBO ticket sales)||-£1,481||||| |programmes (cost/sales)|£558|-£419||||| |publicity/printing/gift soloist||-£599||||| |**Total**|£16,354|-£13,924|£2,430|£0|£0|£0| |**Haydn/Mozart March 2024**||||||| |Venue charges (Bath Abbey)- deposit||-£1,028||||| |Professional costs||||||| |Ticket sales (Secretary/door/BBO)|£1,110|||||| |advertising revenue||||||| |Agency costs (10% BBO ticket sales)||||||| |programmes (cost/sales)||||||| |publicity/printing/gift soloist||-£535||||| |**Total**|£1,110|-£1,562|-£452|£0|£0|£0| |**Concert totals**|£38,564|-£41,047|**-£2,483**|£41,341|-£37,475|**£3,866**| Page 4 of 4 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** |**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**
**Responsibilities and**
**basis of report**|**Bath Choral Society**|**Bath Choral Society**|**Bath Choral Society**| |---|---|---|---| ||||| ||||| ||31 December 2023
**Charity no**
**(if any)**
263086||| ||||| ||1 - 2
1 to 2||| ||I report to the trustees on my examination of the accounts of the above
charity (“the Trust”) for the year ended31/12/2023.
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”).
I report in respect of my examination of the Trust’s accounts carried out
under 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** I have completed my examination. I confirm that no material matters have - **examiner's statement** come to my attention in connection with the examination (other than that disclosed below *) 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. * _Please delete the words in the brackets if they do not apply._ |**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body**
**(if any):**
**Address:**|**Date:**|10 January 2024| |---|---|---| |||| |||| ||Richard Robb|| |||| |||| ||Institute of Chartered Accountants|| |||| ||28 Church Street, Bathford, Bath BA1 7RS|| 1 **Oct 2018** **IER** ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . 2 **Oct 2018** **IER**