## **Taunton Amateur Operatic Society**
Registered Charity no 263430
Callebaut Hall, 15 Kingston Road, Taunton, TA2 7SA
## **Financial Statements for the period ended 31 December 2022**
|**Contents**|**Page**|
|---|---|
|Annual report of the Trustees|1 & 2|
|Independent examiner's report|3|
|Balance sheet|4|
|Statement of financial activities|5|
|Notes to the accounts|6 to 8|
|Summary of production results|9|
|Summary of Callebaut Hall income and expenditure|10|
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Annual Report of the Trustees For the period ended 31 December 2022**
The charity is administered by a General Committee comprising:
President JA Venn Chairman S Tottle P Cox D Carlson R Brakstad B Turner C Alexander C Adkins D Goldsworthy M Webber
All the above are deemed to be Trustees of the Charity and are collectively responsible for its management.
## **Structure, Governance and Management**
The charity was formed in January 1972 as an unincorporated association.
The day to day management of the Charity is governed by the "Rules of the Society - 2016". These stipulate inter alia, that the officers of the Society and the general committee members are to be elected at the Annual General Meeting and will hold office for one year. All are eligible for re-election.
The title to the rehearsal premises (known as the Callebaut Hall) is in the names of the Holding Trustees. The property is maintained to a good standard by the General Committee and the Charity's income is supplemented by hiring these facilities to similar organisations.
## **Objects of the Society**
The principal object of the Society is to educate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said arts and to assist and further such charitable institutions and charitable purposes as the committee shall from time to time determine. In pursuit of this said object the Charity has powers to:
- a) promote operas, operettas and other dramatic works of educative value;
- b) acquire interests in the copyright or secure other rights enabling the performance of the above works; c) purchase or otherwise acquire the necessary assets and effects, including real and leasehold property;
- d) raise funds and receive contributions through subscriptions, donations and otherwise, provided that the Society shall not engage in permanent trading activities;
- e) do all such further lawful activities as further the Society's objects.
## **Activities undertaken for the public benefit**
In planning our activities for the year we kept in mind the Charity Commission's guidance on public benefit at our trustee meetings. Our main activities remain the staging of live theatrical events, of a size and scale that would otherwise be unavailable to the local audiences. We also help our members develop their stage craft skills, by working with professional directors and musical directors.
1
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Annual Report of the Trustees (continued) For the period ended 31 December 2022**
## **Review of Activities**
The period to December 22 has seen the society finally back on the stage with three shows following the enforced quiet period due to Covid.
‘Elf the Musical” performed at the Tacchi Morris Arts Centre was a pre Christmas sell out and enjoyed by both cast and audience.
“Barnum” was finally performed at the Tacchi Morris Arts Centre in April 22 having been postponed by Covid.
“Gypsy the Musical” was performed at the Brewhouse Theatre in October 22 again postponed by Covid.
Audience numbers have been disappointing for the latter two shows but we are hoping that picks up in 2023.
## **Financial Review**
The principal reserves of the Society are held in the form of unrestricted funds. At 31 December 2022 the latter amounted to £78,366 (2021 - £124,109). It is the policy of the Trustees to retain sufficient liquid funds to meet normal cash flow requirements and to fund capital projects, hence a significant proportion of the Society's current assets are represented by funds held on deposit. The society generated a net deficit for the year of £45,743 but retains a healthy cash position.
## **Risk policy**
Any significant risks are regularly reviewed by the Trustees, including an annual review of the controls over key financial systems and other areas of operation. The Trustees confirm that procedures have been established to mitigate such risks.
## **Future plans**
Future shows are yet to be announced and the society are carrying out a financial review of the prospect of future shows to enable and prevent them generating significant deficits going forward.
## **For and on behalf of the General Committee**
## **S Tottle (Chairman)**
**Date .......................................................................**
2
## **Taunton Amateur Operatic Society**
## **Registered Charity no 263430**
## **Independent Examiner's Report to the Trustees For the period ended 31 December 2022**
## **Independed examiner's report to the trustees of Taunton Amateur Operatic Society**
I report to the charity trustees on my examination of the accounts of the Taunton Amateur Operatic Society for the period ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in acordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts did not accord with those records; or
3. the accounts do not comply with the applicable requirements conrerning 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.
## **Mrs Fiona Westwood FCA DChA**
## **Monahans**
Chartered Accountants Suite B Blackdown House Blackbrook Park Avenue Somerset TA1 2PX
**Date .......................................................................**
3
## **Taunton Amateur Operatic Society**
## **Registered Charity no 263430**
## **Balance Sheet As at 31 December 2022**
|Notes
**Fixed Assets**
Tangible Assets
2
**Current Assets**
Stocks
Debtors and prepayments
3
Virgin Charity Deposit
Cambridge & Counties Deposit account
Centenary Education Endowment Fund
Bank current account
**Current Liabilities**
Creditors and accruals
4
**Net current assets**
**Net assets**
**Funds**
5 & 6
Centenary Education Endowment Fund (permanent)
Centenary Education Endowment Fund (expendable)
Unrestricted income fund (general)|**£**
**£**
31,438
1,478
1,616
737
43,348
1,216
3,844
52,239
4,108
4,108
48,131
79,569
1,140
63
1,203
78,366
79,569
**31/12/2022**|**£**
**£**
28,076
-
9,382
15,721
42,395
1,204
32,655
101,357
4,121
4,121
97,236
125,312
1,140
63
1,203
124,109
125,312
**31/10/2021**|**£**
**£**
28,076
-
9,382
15,721
42,395
1,204
32,655
101,357
4,121
4,121
97,236
125,312
1,140
63
1,203
124,109
125,312
**31/10/2021**|
|---|---|---|---|
||52,239|101,357||
||4,108|4,121||
||4,108|4,121||
|||||
||||125,312|
||||1,140
63|
||||1,203
124,109|
||||125,312|
## **Approved by the General Committee on ..................... and signed on its behalf by**
**S Tottle (Chairman)**
4
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Statement of Financial Activities For the period ended 31 December 2022**
|Notes
**Income and endowments from:**
**Donations & legacies**
Subscriptions
**Other trading activities**
Spring and Autumn productions income
page 9
Callebaut Hall income
page 10
**Investment income**
Arising from UK cash deposits
**Other income**
Prop hire
**Total**
**Expenditure on:**
Spring and Autumn production costs
page 9
Callebaut Hall expenses
page 10
**Total**
**Net income/(expenditure)**
**Reconciliation of funds:**
**Total funds brought forward**
**Total funds carried forward**
page 4|**Unrestricted Permanent Expendable**
**Total**
**Total**
**Funds**
**EndowmentEndowment 31/12/2022**
**31/10/2021**
**Fund**
**Fund**
**£**
**£**
**£**
**£**
**£**
735
-
-
735
493
56,590
-
-
56,590
-
9,934
-
-
9,934
7,700
1,038
-
-
1,038
12
594
-
-
594
100|**Unrestricted Permanent Expendable**
**Total**
**Total**
**Funds**
**EndowmentEndowment 31/12/2022**
**31/10/2021**
**Fund**
**Fund**
**£**
**£**
**£**
**£**
**£**
735
-
-
735
493
56,590
-
-
56,590
-
9,934
-
-
9,934
7,700
1,038
-
-
1,038
12
594
-
-
594
100|
|---|---|---|
||68,891
-
-|68,891
8,305|
||108,138
-
-
6,496
-
-|108,138
1,905
6,496
4,245|
||114,634
-
-|114,634
6,150|
||(45,743)
-
-
124,109
1,140
63|(45,743)
2,155
125,312
123,157|
||78,366
1,140
63|79,569
125,312|
5
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Notes to the Accounts For the period ended 31 December 2022**
## **1 Accounting Policies**
## **1.1 Basis of accounting**
Taunton Amateur Operatic Society is an unincorporated charity. The principal address of the charity is Callebaut Hall, 15 Kingston Road, Taunton, TA2 7SA. The nature of the charity's operations and its principal activities are set out in the Trustees report on pages 1 and 2.
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **1.2 Capitalisation of fixed assets**
All fixed assets are initially recorded at cost.
## **1.3 Depreciation**
- Land and Buildings No depreciation of the original cost of the Callebaut Hall and subsequent improvements has been provided on the grounds that, in the opinion of the Trustees, the residual market value of the freehold land exceeds the current book value of £26,875. It is the charity's policy not to revalue land and buildings. - Fixtures, fittings and 20% per annum on a reducing balance basis. equipment
## **1.4 Income**
All income is recognised once the charity has entitlement, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
## **1.5 Expenditure**
Liabilities are recognised as expenditure 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.
## **1.6 Value Added Tax**
Value Added Tax is not recoverable by the Charity and as such is included in the relevant costs in the accounts.
## **1.7 Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. These costs include governance costs and have been allocated equally between productions.
## **1.8 Stocks**
Are held at the lower of cost and net realisable value.
6
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Notes to the Accounts For the period ended 31 December 2022**
## **1.9 Debtors**
Trade and other debtors are recognised at the settlement amount and prepayments are valued at the amount prepaid.
## **1.1 Cash at bank and in hand**
Cash at bank and in hand comprise cash and short term highly liquid investments with a short maturity of 120 days or less from the date of opening the deposit account.
## **1.11 Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated readily. Creditors and provisions are recognised at their settlement amount.
## **1.12 Tax status**
Under Section 505 ICTA 1988 the Charity is exempt from certain taxes. Full account is taken of tax credits attaching to gifts and qualifying donations.
## **1.13 Going concern**
The trustees assess whether the use of going concern is appropriate. The trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. The trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern.
|**2 Tangible fixed assets**
**Cost**
At 1 November 2021
Additions
Disposals
At 31 December 2022
**Depreciation**
At 1 November 2021
Charge for the year
On disposals
At 31 December 2022
**Net book values**
At 31 December 2022
At 31 October 2021|**Freehold**
**Property**
**£**
26,875
-
26,875
-
-
-
26,875
26,875|**Fixtures,**
**Fittings &**
**Equipment**
**£**
12,430
4,751
-
17,181
11,229
1,389
-
12,618
4,563
1,201|**Total**
**£**
39,305
4,751
-|
|---|---|---|---|
||||44,056|
||||11,229
1,389
-|
||||12,618|
||||31,438|
||||28,076|
7
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Notes to the Accounts**
**For the period ended 31 December 2022**
|**3 Debtors: amounts falling due within one year**
Production costs, sundry debtors & prepayments
**4 Creditors: amounts falling due within one year**
Production costs, sundry creditors & accruals|**31/12/2022**
**£**
1,616
**31/12/2022**
**£**
4,108|**31/10/2021**
**£**
9,382|
|---|---|---|
|||**31/10/2021**
**£**
4,121|
## **5 Centenary Education Endowment Funds**
The endowment funds comprise two elements:
- a) The permanent (non-expendable) fund represents the proceeds of the Centenary raffle and subsequent fundraising.
b) The expendable fund represents investment income arising on the permanent (non-expendable) fund. This fund may be applied for training purposes in order to develop members' skills in the various stage disciplines.
## **6 Unrestricted fund**
This fund may be used for general purposes to be determined by the Trustees. Prudent management will make due provision for the maintenance and improvement of Callebaut Hall (the Society's principal fixed asset) and for possible losses on future productions.
## **7 Trustees' expenses and remuneration and related party transactions**
No expenses were paid to trustees during the year in respect of expenses
reimbursements and allowances made in the course of carrying out their duties in pursuance of the charity's objectives nor in the preceding year.
No Trustee received any remuneration during the year nor in the preceding year.
There were no related party transactions during the year nor in the preceding year.
|**8 Analysis of net assets between funds**
Unrestricted funds
Expendable endowment
Permanent endowment|**Fixed**
**Assets**
**£**
31,438
-
-
31,438|**Current**
**Assets**
**£**
46,928
63
1,140
48,131|**Total**
**£**
78,366
63
1,140|
|---|---|---|---|
||||79,569|
8
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Summary of Production Results For the period ended 31 December 2022**
|**Income**
Box office
Programme sales
Raffle
Performance fees
Props hire
Other income
**Total Income**
page 5
**Expenses**
**Activities undertaken directly:**
Theatre hire
Playing rights, scores & libretti
Scenery, lighting, sound
Costumes, make-up, wigs
Props
M&A
Professional fees
Administration
Sundry expenses
**Total direct costs**
**Support Costs:**
Depreciation of fixed assets
Administration and sundry expenses
Bank charges
Subscriptions
Website costs
Independent examiner's fees
Printing, postage and stationery
Membership expenses
**Total support costs**
**Total expenses**
**Surplus/(deficit) on productions**|**2022**
**2022**
**2022**
**2022**
**Total 31/12/2022**
31/10/2021
Total 31/10/2021
**Barnum**
**Elf**
**Gypsy**
**Support**
Support
**£**
**£**
**£**
**£**
**£**
£
£
21,350
17,447
13,871
-
52,668
-
-
-
-
-
-
531
375
305
-
1,211
-
-
200
330
880
-
1,410
-
-
-
-
-
-
-
-
-
664
444
193
-
1,301
-
-|
|---|---|
||22,745
18,596
15,249
-
56,590
-
-|
||8,364
6,396
10,986
-
25,746
-
-
8,471
5,944
9,064
-
23,479
-
-
9,659
8,181
11,634
-
29,474
-
-
3,668
2,011
3,148
-
8,827
-
-
590
376
451
-
1,417
-
-
1,281
569
341
-
2,191
-
-
4,760
2,150
5,525
-
12,435
-
-
-
128
-
-
128
-
-
573
335
410
-
1,318
-
-|
||37,366
26,090
41,559
-
105,015
-
-|
||-
-
-
1,389
1,389
300
300
-
-
-
24
24
158
158
-
-
-
153
153
90
90
-
-
-
563
563
318
318
-
-
-
66
66
148
148
-
-
-
828
828
810
810
-
-
-
100
100
7
7
-
-
-
-
-
74
74|
||-
-
-
3,123
3,123
1,905
1,905|
||37,366
26,090
41,559
3,123
108,138
1,905
1,905
(14,621)
(7,494)
(26,310)
(3,123)
(51,548)
(1,905)
(1,905)|
9
**Registered Charity no 263430**
## **Taunton Amateur Operatic Society**
## **Callebaut Hall income and expenditure For the period ended 31 December 2022**
|**Income**
Letting revenues
Hire of chairs
**Total income**
page 5
**Expenditure**
Council tax
Electricity and gas
Cleaning and maintenance
Insurance
Sundry expenses
**Total expenditure**
page 5
**Excess for the year**|**31/12/2022**
**£**
9,894
40
9,934
310
2,155
2,704
1,012
315
6,496
3,438|**31/10/2021**
**£**
7,700
-|
|---|---|---|
|||7,700|
|||-
1,902
1,625
718
-|
|||4,245|
|||3,455|
10