EXETER MUSICAL SOCIETY
TRUSTEES REPORT FOR THE YEAR TO 30 JUNE 2024
This year the Committee voted to stage the Rogers & Hammerstein Musical Carousel.
Casting began in November and rehearsals started in earnest in December.
Despite a wonderful, talented and engaged cast the audience numbers were disappointing resulting in an overall loss of £23,288.
Looking to the future, the Committee is concerned about the financial position of the Society and has decided to take a break from staging productions and concentrate on fundraising activities.
Trustee: Tina Blaker
Date: 15th July 2024
EXETER MUSICAL SOCIETY
STATEMENT of ACCOUNTS
YEAR END TO 30/06/2024
1
EXETER MUSICAL SOCIETY
ACCOUNTS YEAR END TO 30/06/2024
CONTENTS:
EXAMINER’S REPORT Page 3 BALANCE SHEET Page 4 GENERAL INCOME & EXPENDITURE Page 5 NOTES Page 6
2
EXETER MUSICAL SOCIETY 2024 EXAMINER’S REPORT:
I have examined the financial statements and notes to the accounts on the following pages. From the information supplied, in my opinion the financial statements show a true and fair view of the state of financial affairs of the Exeter Musical Society as at the 30[th] June 2024 and of the loss for the period ended on that date.
…Tony Macan………………………….. Dated: 15/7/2024
3
EXETER MUSICAL SOCIETY
– BALANCE SHEET YEAR END 30/06/2024
| _Notes_20242023 | _Notes_20242023 | |
|---|---|---|
| FIXED ASSETS | ££ | |
| Radio Mics | _3_0 1,367 | |
| CURRENT ASSETS | ||
| National Westminster Bank | 48,150 63,236 | |
| TOTAL CURRENT ASSETS 48,150 63,236 |
||
| DEBTORS & PREPAYMENTS | ||
| Gift aid & deposits _4_1,844 8,079 |
||
| LESS CREDITORS & DEFERRED INCOME 5 -600 0 | ||
| TOTAL NET ASSETS | 49,394 72,682 | |
| GENERAL FUND | ||
| Balance at beginning of year | 72,682 77,264 | |
| General Fund | -23,288 -4,582 | |
| BALANCE AT YEAR END | 49,394 72,682 |
4
EXETER MUSICAL SOCIETY GENERAL INCOME & EXPENDITURE ACCOUNT YEAR END TO 30/06/2024
| 2024 INCOME £ Show Income 49,259 Subscriptions/Donations from members 3,375 Interest Received 713 Refund Rights deposit (Shrek, 9 to 5) 0 Income from Rental of Radio Mics 695 54,042 EXPENDITURE Show Expenditure 73,989 Stationery, Postage, Printing 40 Noda Subscription 245 Insurance 449 Depreciation 1,367 IT Expenses 586 Meeting room hire 0 Other Expenses 654 77,330 TOTAL **-23,288 ** |
2023 £ 152,628 5,070 130 0 1,235 159,063 161,143 138 230 596 702 194 50 592 163,645 -4,582 |
|---|---|
5
EXETER MUSICAL SOCIETY
1 ACCOUNTING POLICIES
1.1 Accounting convention
The financial Statements are prepared under the historic cost convention.
1.2 Investment Income
Investment income is accounted for on the basis of cash received.
1.3 Depreciation
The radio mics , being obsolete, have been fully written off in the year. 1.4 Membership Fees Membership fees are accounted for when cash received.
2 OPERATING SURPLUS/DEFICIT
Operating loss (2024) is stated after charging depreciation of Radio Mics at £1,367
3 TANGIBLE ASSETS
Radio Mics –
| Total Cost up to 2024 | £22,574 |
|---|---|
| Depreciation up to 2023 | (£21,207) |
| Depreciation 2024 | (£1,367) |
| Net Book Value at 30/06/2024£NIL | |
| 4 DEBTORS & PREPAYMENTS | |
| Deposits re future productions £750 |
|
| Insurance £621 |
|
| Gift Aid Due from HMRC £473 |
|
| Total Debtors & prepayments | £1,844 |
| 5 CREDITORS & DEFERRED INCOME | |
| Production of 2025 Show £550 |
|
| Score Deposits not returned £50 |
|
| Total Creditors & Deferred Income £600 |
6
EXETER MUSICAL SOCIETY
STATEMENT of ACCOUNTS
YEAR END TO 30/06/2024
1
EXETER MUSICAL SOCIETY
ACCOUNTS YEAR END TO 30/06/2024
CONTENTS:
EXAMINER’S REPORT Page 3 BALANCE SHEET Page 4 GENERAL INCOME & EXPENDITURE Page 5 NOTES Page 6
2
EXETER MUSICAL SOCIETY 2024 EXAMINER’S REPORT:
I have examined the financial statements and notes to the accounts on the following pages. From the information supplied, in my opinion the financial statements show a true and fair view of the state of financial affairs of the Exeter Musical Society as at the 30[th] June 2024 and of the loss for the period ended on that date.
…Tony Macan………………………….. Dated: 15/7/2024
3
EXETER MUSICAL SOCIETY
– BALANCE SHEET YEAR END 30/06/2024
| _Notes_20242023 | _Notes_20242023 | |
|---|---|---|
| FIXED ASSETS | ££ | |
| Radio Mics | _3_0 1,367 | |
| CURRENT ASSETS | ||
| National Westminster Bank | 48,150 63,236 | |
| TOTAL CURRENT ASSETS 48,150 63,236 |
||
| DEBTORS & PREPAYMENTS | ||
| Gift aid & deposits _4_1,844 8,079 |
||
| LESS CREDITORS & DEFERRED INCOME 5 -600 0 | ||
| TOTAL NET ASSETS | 49,394 72,682 | |
| GENERAL FUND | ||
| Balance at beginning of year | 72,682 77,264 | |
| General Fund | -23,288 -4,582 | |
| BALANCE AT YEAR END | 49,394 72,682 |
4
EXETER MUSICAL SOCIETY GENERAL INCOME & EXPENDITURE ACCOUNT YEAR END TO 30/06/2024
| 2024 INCOME £ Show Income 49,259 Subscriptions/Donations from members 3,375 Interest Received 713 Refund Rights deposit (Shrek, 9 to 5) 0 Income from Rental of Radio Mics 695 54,042 EXPENDITURE Show Expenditure 73,989 Stationery, Postage, Printing 40 Noda Subscription 245 Insurance 449 Depreciation 1,367 IT Expenses 586 Meeting room hire 0 Other Expenses 654 77,330 TOTAL **-23,288 ** |
2023 £ 152,628 5,070 130 0 1,235 159,063 161,143 138 230 596 702 194 50 592 163,645 -4,582 |
|---|---|
5
EXETER MUSICAL SOCIETY
1 ACCOUNTING POLICIES
1.1 Accounting convention
The financial Statements are prepared under the historic cost convention.
1.2 Investment Income
Investment income is accounted for on the basis of cash received.
1.3 Depreciation
The radio mics , being obsolete, have been fully written off in the year. 1.4 Membership Fees Membership fees are accounted for when cash received.
2 OPERATING SURPLUS/DEFICIT
Operating loss (2024) is stated after charging depreciation of Radio Mics at £1,367
3 TANGIBLE ASSETS
Radio Mics –
| Total Cost up to 2024 | £22,574 |
|---|---|
| Depreciation up to 2023 | (£21,207) |
| Depreciation 2024 | (£1,367) |
| Net Book Value at 30/06/2024£NIL | |
| 4 DEBTORS & PREPAYMENTS | |
| Deposits re future productions £750 |
|
| Insurance £621 |
|
| Gift Aid Due from HMRC £473 |
|
| Total Debtors & prepayments | £1,844 |
| 5 CREDITORS & DEFERRED INCOME | |
| Production of 2025 Show £550 |
|
| Score Deposits not returned £50 |
|
| Total Creditors & Deferred Income £600 |
6