SIR ARTHUR SULLIVAN SOCIETY
(Registered Charity No. 274022)
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
Page 1
SIR ARTHUR SULLIVAN SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
Committee Elaine Richardson Stephen Turnbull William Parry Doreen Harris Robin Gordon-Powell Christopher O’Brien Christopher Richardson Steve Skinner Lisa Wenmouth (Appointed 1[st] April 2023) Patrick Dittamo Colin Jagger (Appointed 1[st] April 2024) Stephen Hartland (Appointed 1[st] April 2024)
Independent Examiner
Mr J S Holland-Leader Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD
Bankers Barclays Bank plc Leicester LE87 2BB
CCLA Investment Management Ltd 85 Queen Victoria Street London EC4V 4ET
Investment Manager
Standard Life Dundas House 20 Brandon Street Edinburgh EH3 5PP
Investment Adviser
121-Advice Limited Rodney House Clifton Down Road Bristol BS8 4AL
Principal address Crossways 1 Tremeddan Lane Liskeard PL14 3DR
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SIR ARTHUR SULLIVAN SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
The trustees present their annual report and financial statements of the charity for the year ended 31st March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s Constitution, the Charities Act 2011 and 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).
Objectives and activities for the public benefit
The purpose of the Society is to advance the education of the public in, and promote the performance of, the music of Sir Arthur Seymour Sullivan (1842-1900) and other contemporaneous British composers, by means of the presentation of publications, recordings, lectures, concerts and other activities. The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the Society’s aims and objectives, in planning future activities, and setting the grant making policy for the year. The Society furthers its charitable purposes for the public benefit through its grant-making policy, recording projects, and promotion of the work of Sir Arthur Seymour Sullivan and other contemporaneous British composers for the education of the public.
Review of achievements and performance
A more or less total return to normality following the Covid pandemic allowed the Society to hold its first residential weekend since 2018. This took the form of a conference held at the Alma Lodge Hotel, Stockport, from 6-8 October. Whilst the major focus of activity was on a series of talks by various experts, there was also live music from Matthew Siveter (baritone) and the Lydian String Quartet, who gave the first known performance of the String Quartet in A by Sullivan’s colleague Hamilton Clarke, as well as the composer’s own String Quartet in D. A memorabilia auction generated more than £1,000 for Society funds. It was one of life’s little ironies that the weekend clashed with a performance in London of Sullivan’s Henry VIII incidental music. The even rarer suite from King Arthur was to have been performed in Bexhill-on-Sea that same weekend, but this was postponed until February 2024.
Progress with our planned recordings of The Chieftain and The Martyr of Antioch continued to be hampered by the after-effects of the pandemic, in particular non-availability of choirs and recording venues. Discussions continued with record companies and artists, but by the end of the year only limited progress had been made. Work will continue into 2024-25.
The Society became involved in public campaigning during 2023. The continued existence of the BBC Singers, the UK’s only full-time professional chamber choir, was threatened. The Singers have been a key part of several of our recording projects and we encouraged members to sign petitions and to lobby against the closure - which was, indeed, averted in the light of a huge outcry from across the classical music world. The other campaign was less successful. The National Portrait Gallery reopened in June after a long refurbishment, but the famous Millais portrait of Sullivan was not on display (nor was the portrait of W. S. Gilbert). Official protests on behalf of the Society, as well as lobbying from individual members, from the UK and overseas, drew only bland responses from the Gallery’s management. We have also expressed concern about the construction of a children’s playground adjacent to the Sullivan memorial in London’s Embankment Gardens.
Despite some problems around delivery (printing and distribution take place three hundred miles apart), the Society published the customary three issues of its Magazine during the year. The year’s major publishing event was the appearance of The Untold Story of Herbert Sullivan , a biography of the composer’s nephew by our Chairman, Elaine Richardson. Elaine’s many years of research completely changed the perception we have of Herbert and also shed much light on his relationship with his uncle and, after Arthur’s death, with W.S. Gilbert and the D’Oyly Carte organisation. The Amber Ring published a new full score of The Grand Duke , edited from the autograph by Colin Jagger, as well as a companion vocal score. The latter is available for free download from the Society’s website www.sullivansociety.org.uk.
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SIR ARTHUR SULLIVAN SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
Review of achievements and performance (continued)
The most significant performances of 2023 were in Germany. On 30 April the German première of The Light of the World took place in a packed Christuskirche in Karlsruhe and just over two months later the Irish Symphony received its first public German performance in Stralsund - followed by two repeat performances in the ensuing days. An autumn production of Die Piraten von Penzance in Mainz and a spring one of Der Mikado in Passau underlined the progress that Sullivan’s music continues to make in Germany. The Irish Symphony was also heard in Chur (Switzerland, October).
Sullivan makes strides in less obvious locations, too: The Window was performed in Taiwan (November) and, perhaps most unlikely of all, there were three performances of The Prodigal Son in Havana (Cuba) in October. Nearer home, the Irish Symphony was heard in Liverpool (October), the Overture di Ballo in Epsom (January) and ‘The night is calm’ ( The Golden Legend ) in Chorley (Lancs).
There were plenty of interesting opera productions, both new and revivals, including: Cox and Box : (North West Productions, Buxton); Trial by Jury (Duchy Opera, Cornwall, June); The Zoo (NWP, All Aboard Opera, Aug, tour); H.M.S. Pinafore (Opera della Luna and Opera Anywhere, touring); The Pirates of Penzance (NGSOC, Buxton and Malvern July-September, OA, touring); Iolanthe (English National Opera, London Coliseum, October, OA, touring); The Mikado (NGSOC, Sasha Regan’s all-male production, summer tour; OA, new production, touring; Charles Court Opera, touring); Ruddigore (Charles Court/Holland Park coproduction, August); The Yeomen of the Guard (Kentish Opera, April; NGSOC); The Gondoliers (Forbear! Theatre, Hever Castle, June). Utopia Limited was seen in New York (April). A ten-day G&S festival took place in Adelaide (Australia) in May, including performances of T rial, The Sorcerer, Pinafore and Pirates , as well as the Boer War Te Deum and various songs and short works.
The broadcasting highlight of the period covered by this report was that Sullivan featured as BBC Radio 3’s Composer of the Week during the week of 10-14 April - the first time he had been so treated in over twenty years. The programmes used a large selection of recordings from across the composer’s entire output, including a number sponsored by the Society. These days, short pieces crop up fairly regularly in the network’s magazine programmes. Scottish Opera’s Gondoliers and ENO’s Yeomen were seen on BBC4 and ENO’s Pinafore and Pirates were shown on Sky Arts.
Finally, I note with sadness the death of our long-standing members Paul Ernill and Eddy Stanbrook.
Financial review
In the year ended 31 March 2024, the Society recorded a deficit on unrestricted net income, before investment gains and losses, of some £900 (2023: surplus of £274). After investment losses, there was a deficit on unrestricted activity of £1,352 (2023: £1,240). The Clay Bequest experienced an investment gain of £7,801 (2023: loss of £17,174). After taking account of restricted and endowment fund activity, the overall surplus for the year was £12,111 (2023: deficit of £9,667). The balance on general funds fell in the year to 31st March 2024 from £(3,172) to £(4,524). The Endowment Fund balance increased to £17,978 (2023: £16,103). The designated Gerald Clay Fund balance rose to £197,852 (2023: £187,395), due mainly to the year’s encouraging net investment gain.
Total reserves at 31[st] March 2024 amounted to £222,587 (2023: £210,476), of which £193.328 (2023: 184,223) was unrestricted, £11,281 (2023: £10,150) was restricted, and £17,978 (2023: £16,103) represented endowment funds.
REPORT OF THE TRUSTEES
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SIR ARTHUR SULLIVAN SOCIETY
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
Reserves policy
Where circumstances allow, the Society aims to maintain reserves covering at least 3 months’ non-exceptional expenditure. A large legacy was received in the year ended 31st March 2017; no restrictions were given as to how the bequest should be spent, but the trustees have agreed to designate it. In accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities, this designation has an administrative purpose only and does not legally restrict the trustees’ discretion in how to apply the unrestricted funds that they have earmarked. The trustees note that the designated fund of some £197,852 far outweighs ongoing annual non-exceptional expenditure.
Restricted funds
The restricted funds, all of which relate to funds raised for specific recording projects, are set out in Note 13 to the accounts. The Society’s reserves also include an Endowment Fund: income from this fund is available to spend on Society projects but the endowment itself is not.
Investment policy
Funds for investment comprise the reserve funds not required to support the normal operational cashflow needs (including any operational reserves). Most of the Society’s investments are held in a wrap account with Standard Life. Because the society’s investment strategy is still relatively new, the policy has been to avoid risky investments such as hedge funds, unmatched derivatives, and any other instrument that is volatile in price or illiquid. The Board of Trustees monitors the performance of investments.
Since its inception in 2017, when £198,000 was invested, £24,000 has been redeemed from the wrap (mainly to cover the recording of Haddon Hall ). At the end of March 2024, the wrap’s value had recovered most of the losses incurred in the prior year due to the market impact of the invasion of Ukraine and stood at £200,495 (2023: £188,442). Overall, however, the wrap has generated a contribution to funds of £26,500 (15.2%) over its life.
Future Plans
The Society plans to continue the promotion of the music of Sir Arthur Seymour Sullivan by means of the presentation of publications, recordings, lectures, concerts and other activities for the foreseeable future.
Going Concern
The Trustees have reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements.
Whilst general unrestricted funds are currently in deficit, the Designated Clay Bequest Fund is free from external restrictions which will allow the Society to meet all liabilities as they fall due, should the need to release these funds present itself.
Structure, governance and management
The Sir Arthur Sullivan Society is an unincorporated society governed by its Constitution of 12 August 2006 as amended on 16 September 2018 and registered with the Charity Commission (registered number 274022). Trustees as at 31 March 2024, elected by the Society’s forty-sixth Annual General Meeting on 7 October 2023, were Robin Gordon-Powell, Doreen Harris, Christopher O’Brien, William Parry (Treasurer), Christopher Richardson, Elaine Richardson (Chairman), Steven Skinner, Stephen Turnbull (Secretary) and Lisa Wenmouth. These individuals form the Committee of the Society, charged with its running under the terms of the Constitution.
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SIR ARTHUR SULLIVAN SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
Structure, governance and management (continued)
Trustees shall retire annually and shall be eligible for re-election. The Officers and elected Committee members shall be entitled to vote at Committee meetings, and in the event of a tie the Chairman may at his discretion give a second or casting vote.
New Trustees are informed of their legal obligations under charity law, the Charity Commission guidance on public benefit, the content of the constitution, the committee and decision-making processes, and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Reference and administrative information
Trustees who served from 1st April 2023 until the date this report was approved are:
Elaine Richardson Chair Stephen Turnbull Secretary and Magazine Editor William Parry Treasurer* Doreen Harris Membership Secretary Robin Gordon-Powell Librarian and Archivist Christopher O’Brien Webmaster Christopher Richardson Sales Officer Steve Skinner Nathan Smith (until 7 October 2023) Patrick Dittamo (Co-opted) Lisa Wenmouth (Co-opted from 1 April 2023, elected 7 October 2023) Colin Jagger (Co-opted from 13 January 2024)
*also Vice Chairman from 13 January 2024
Principal address
Crossways, 1 Tremeddan Lane, Liskeard, PL14 3DR.
Statement of trustees’ responsibilities
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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SIR ARTHUR SULLIVAN SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
Statement of trustees’ responsibilities (continued)
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions
of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
Independent examiner
James Holland-Leader of Knox Cropper LLP has expressed his willingness to undertake the Independent Examination and a proposal for his reappointment will be put before the Trustees at their meeting.
Approved by The Society’s trustees and signed on their behalf.
E Richardson - Chair
Date: 24 January 2025
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
SIR ARTHUR SULLIVAN SOCIETY
Independent examiner’s report to the trustees of Sir Arthur Sullivan Society
I report to the trustees on my examination of the accounts of Sir Arthur Sullivan Society (the Trust) for the year ended 31st March 2024.
This report is made to the Trustees, as a body, in accordance with the terms of my engagement. My work has been undertaken so that I might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charity Commissioners. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s Trustees, as a body, for my work or for this report.
Responsibilities and basis of report
As the charity trustees of the Trust 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 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
65 Leadenhall Street London EC3A 2AD
James Holland-Leader, FCA Knox Cropper LLP Chartered Accountants
24 January 2025
SIR ARTHUR SULLIVAN SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| Note Unrestric Funds £ Restric Fund £ Endowm Funds £ Total £ Unrestric Funds £ Restric Fund £ Endowm Funds £ Tota £ |
Note Unrestric Funds £ Restric Fund £ Endowm Funds £ Total £ Unrestric Funds £ Restric Fund £ Endowm Funds £ Tota £ |
Note Unrestric Funds £ Restric Fund £ Endowm Funds £ Total £ Unrestric Funds £ Restric Fund £ Endowm Funds £ Tota £ |
||
|---|---|---|---|---|
| INCOME FROM Donations, Legacies and Co Other Trading Activities Investments 2 4 5 15 1 7 _ 1, 1,7 _ 18 1 7 6 2 5 _ 6, 1, _ 14, 2, 5, TOTAL INCOME 24 _ 1, 1,8 _ 27 14 _ 6, 1, _ 23, EXPENDITURE ON Raising Funds Charitable Activities 6 7 2 19 _ _ 2 19 2 11 _ _ 2, 11, TOTAL EXPENDITURE 22 _ 22 _ 14 _ _ 14, ____ |
||||
| Net Gains/(Losses) on Inves 8 7 _ _ 7 (18,6 _ _ (18,6 _ NET INCOME/EXPENDI NET MOVEMENT IN FU 9 1, 1,8 12 (18,0 6, 1, (9,6 |
||||
| TRANSFERS BETWEEN TOTAL FUNDS BROUGH FORWARD AT 1ST APRI 184 _ 10, 16, _ 210 202 _ 3, 14, _ 220, TOTAL FUNDS CARRIED FORWARD AT 31ST MAR £193 _ £11, _ £17,9 £222 _ £184 £10, _ £16, __ £210, ____ All the activities reported above represent continuing operations. Pa e |
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| _ __ |
____ | |||
| All the activities reported above represent continuing operations. |
Pag e 8
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SIR ARTHUR SULLIVAN SOCIETY
BALANCE SHEET
AS AT 31ST MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Quoted Investments | 8 | 206,807 | 195,206 | ||
| CURRENT ASSETS | |||||
| Stocks | 9 | 2,000 | 2,000 | ||
| Debtors | 10 | 1,556 | 3,910 | ||
| Cash at Bank and in hand | 11 | 19,894 | 13,580 | ||
| ______ | ______ | ||||
| 23,450 | 19,490 | ||||
| CREDITORS: | |||||
| Amount falling due within one year | 12 | (7,670) | (4,220) | ||
| ______ | ______ | ||||
| NET CURRENT ASSETS | 15,780 | 15,270 | |||
| _ | _ | ||||
| NET ASSETS | £222,587 |
£210,476 |
|||
| _ | _ | ||||
| Represented by: | |||||
| RESTRICTED FUNDS | 13 | 11,281 | 10,150 | ||
| ENDOWMENT FUNDS | 13 | 17,978 | 16,103 | ||
| UNRESTRICTED FUNDS | 13 | 193,328 | 184,223 | ||
| _ | _ | ||||
| TOTAL FUNDS | £222,587 |
£210,476 |
|||
| _ | _ |
Approved by the trustees on 24 January 2025 and signed on their behalf.
E Richardson - Chair
W Parry - Honorary Treasurer
Page 10
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
a) Basis of Preparation and Assessment of going concern
The accounts have been prepared under the historical cost convention with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Charity constitutes a public benefit entity as defined by FRS 102.
The Trustees have reasonable expectation that the charity has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements. Despite a small operating deficit in the year, the Trustees have considered the reserves of the charity in making their assessment and given that the majority of reserves are unrestricted (albeit designated), together with the future plans of the charity, are confident that the going concern basis is appropriate in preparing the financial statements.
b) Funds Accounting
Funds held by the Charity are:
Unrestricted Funds – Unrestricted Funds consist of the Designated Clay Bequest and General Funds which can be used for Charity ordinary purposes.
Restricted Funds
Donations or grants received for a specific purpose or invited by the Charity for a specific purpose. The funds may only be expended on the specific purpose for which they were given. Any balance remaining unspent at the end of the year is carried forward as a balance on that fund.
c) Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations, Legacies and Subscriptions
Subscriptions are recognised when banked by or on behalf of the Charity. Income tax recoverable on covenants or Gift Aid donations is recognised in the accounts when the gift is received. Grants and legacies are accounted for when the Charity is notified of their legal entitlement and the amount due is probable.
Other ordinary incomes
Income from festivals and events are accounted for as and when they occur. Income from sales is recognised when the sales are made.
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SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
1. ACCOUNTING POLICIES (continued)
c) Income (continued)
Income from investments
Dividend and interest income are accounted for when received as is any income tax recoverable on such income.
d) Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
e) Grants
- Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the Charity.
f) Fixed Assets Investments
The Charity’s investments consist only of quoted securities. Initially they are recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on the revaluations and disposals throughout the year.
Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value.
The Society does not acquire put options, derivatives or other complex financial instruments.
g) Current Assets
- Amounts owing to the Charity at 31st December in respect of gift aid, events or other income are shown as debtors, less provision for amounts that may prove uncollectible.
Short-term deposits include cash held on deposit either with the CCLA, or at the bank.
h) Cashflow
The Charity has taken advantage of the exemption in the Statement of Recommended Practice from the requirement to produce a cashflow statement.
i) Related party transactions and trustees’ expenses and remuneration
The trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind (2023: £nil). Expenses reimbursed to the trustees in the year totalled £176 (2023: £4,987). These expenses were paid to 2 trustees (2023: 3) reimbursed committee and postage expenses of £126 (2023: £124) and archive costs of £50 (2023: £nil). In addition to the payments made in the year, a total of £4,498 was payable to trustees at 31 March 2024 (2023: £2,790) relating to postage, website, insurance, festival expenses, and costs relating to the collection and storage of David Eden’s archive.
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SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
2. DONATIONS, LEGACIES AND SUBSCRIPTIONS
| 3. DONATIONS 2024 Notes Unrestricted £ Restricted £ Endowment £ Membership subscriptions Donations Festival income Auction income Endowment fund donations Gift aid receivable Legacy 3 4,627 10 9,648 1,100 - 389 - _ - 1,056 - - - 75 - __ - - - - 1,440 285 - _ £15,774 _ £1,131 £1,725 2023 Notes Unrestricted £ Restricted £ Endowment £ Membership subscriptions Donations Festival income Event income Endowment fund donations Gift aid receivable Legacy 3 4,684 10 - 1,071 - 460 - _ - 5,305 - - - 1,326 - - - - - 1,440 285 - £6,225 _ £6,631 £1,725 2024 Unrestricted £ Restricted £ Endowment £ The Chieftain recording Martyr of Antioch recording Other donations - - 10 - 1,056 - - - £10 £1,056 £ - ___ |
Total £ 4,627 1,066 9,648 1,100 1,440 749 - _ £18,630 _ Total £ 4,684 5,315 - 1,071 1,440 2,071 - _ £14,581 _ Total £ - 1,056 10 __ £1,066 ____ |
|---|---|
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SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
3. DONATIONS (Continued)
| 4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
4. OTHER TRADING ACTIVITIES 2023 Unrestricted £ Restricted £ Endowment £ Total £ Martyr of Antioch recording Other donations - 10 __ 5,305 - _ - - 5,305 10 £10 £5,305 £ - £5,315 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ Sales £1,499 £ - £ - £1,499 £2,862 ___ 5. INVESTMENT INCOME |
|---|---|---|---|---|---|---|
| ______ | ______ | |||||
| Unrestricted £ Restricted £ Dividends and Interest £7,098 __ £ - ____ |
||||||
| ______ | ||||||
| 2 Unrestricted £ Restricted £ Endowment £ Total £ Dividends and Interest £5,836 __ £ - _ £17 £5,853 ___ |
||||||
- RAISING FUNDS
Total & Unrestricted Restricted Endowment Total Unrestricted £ £ £ £ £
2024
2023
| Opening stock | 2,000 | - | - | 2,000 | 2,000 |
|---|---|---|---|---|---|
| Purchases | 214 | - | - | 214 | 158 |
| Closing stock | (2,000) | - | - | (2,000) | (2,000) |
| Paypal commissions | 51 | - | - | 51 | 54 |
| Investment advisory fees | 2,568 | - | - | 2,568 | 2,759 |
| ______ | ______ | ______ | ______ | ______ | |
| £2,833 | £ - | £ - | £2,833 | £2,971 | |
| ______ | ______ | ______ | ______ | ______ |
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SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
| 7. | CHARITABLE ACTIVITIES | 2024 | 2024 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | ||||||||||
| £ | £ | £ | £ | ||||||||||
| Grants (Note 7a) | - | - | - | - | |||||||||
| Activities directly related to work of | |||||||||||||
| the Society (Note 7b) | 15,429 | - | - | 15,429 | |||||||||
| Society sponsored recording projects | |||||||||||||
| (Note 7c) | - | - | - | - | |||||||||
| Administrative costs (Note 7d) | 2,953 | - | - | 2,953 | |||||||||
| Governance Costs (Note 7e) | 1,400 | - | - | 1,400 | |||||||||
| ______ | ______ | ______ | ______ | ||||||||||
| £19,782 | £ | - | £ - | £19,782 | |||||||||
| ______ | ______ | ______ | ______ | ||||||||||
| 2023 | |||||||||||||
| Unrestricted | Restricted | Endowment | Total | ||||||||||
| £ | £ | £ | £ | ||||||||||
| Grants (Note 7a) | 500 | - | - | 500 | |||||||||
| Activities directly related to work of | |||||||||||||
| the Society (Note 7b) | 6,346 | - | - | 6,346 | |||||||||
| Society sponsored recording projects | |||||||||||||
| (Note 7c) | - | - | - | - | |||||||||
| Administrative costs (Note 7d) | 2,712 | - | - | 2,712 | |||||||||
| Governance Costs (Note 7e) | 1,814 | - | - | 1,814 | |||||||||
| ______ | ______ |
______ |
______ | ||||||||||
| £11,372 |
£ |
- |
£ | - | £11,372 | ||||||||
| ______ | ______ |
______ |
______ | ||||||||||
| 2024 | 2023 | ||||||||||||
| Total & | |||||||||||||
| Unrestricted | Restricted | Endowment | Total | Unrestricted | |||||||||
| £ | £ | £ | £ | £ | |||||||||
| (a) | GRANTS | ||||||||||||
| Recording projects | - | - | - | - | 500 | ||||||||
| David Eden bursary | - | - | - | - | - | ||||||||
| ______ | ______ | ______ | ______ | ______ | |||||||||
| £ - | £ | - | £ - | £ - | £500 | ||||||||
| ______ | ______ | ______ | ______ | ______ |
Page 15
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
7. CHARITABLE ACTIVITIES (Continued)
| 7.CHARITABLE ACTIVITIES (Continued) | 7.CHARITABLE ACTIVITIES (Continued) | 7.CHARITABLE ACTIVITIES (Continued) | 7.CHARITABLE ACTIVITIES (Continued) |
|---|---|---|---|
| 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (b)ACTIVITIES DIRECTLY RELATED TO THE WORK OF THE SOCIETY Magazine and newsletter printing Postage Festival expenses Event expenses Library and music creation 4,123 1,581 9,675 - 50 __ - - - - - _ - - - - - 4,123 1,581 9,675 - 50 3,715 1,568 - 1,063 - £15,429 £ - £ - £15,429 £6,346 ___ |
|||
| - - - - - __ £ - ____ |
- - - - - __ 4,123 1,581 9,675 - 50 _ £ - £15,429 ___ |
3,715 1,568 - 1,063 - __ £6,346 ____ |
| 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Restricted £ (c)SOCIETY SPONSORED RECORDING PROJECTS Ballet disc - __ - _ - - - £ - £ - £ - £ - £ - 2024 2023 Unrestricted £ Restricted £ Endowment £ Total £ Total & Unrestricted £ (d)ADMINISTRATIVE COSTS Publicity Website costs Bank charges Miscellaneous Insurance 632 1,740 201 100 280 - - - - - - - - - - 632 1,740 201 100 280 - 144 193 2,095 280 £2,953 £ - £ - £2,953 £2,712 ___ |
|---|---|---|---|---|---|
| (e)GOVERNANCE COSTS |
| Independent Examination | 1,400 | - | - | 1,400 | 1,400 |
|---|---|---|---|---|---|
| Committee meeting expenses | - | - | - | - | 414 |
| ______ | ______ | ______ | ______ | ______ | |
| £1,400 | £ - | £ - | £1,400 | £1,814 | |
| ______ | ______ | ______ | ______ | ______ |
Page 16
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Investment | |||||||
| 8. | FIXED ASSET INVESTMENTS | Equities | Wrap | Total | Total | ||
| £ | £ | £ | £ | ||||
| Market value at 1st April 2023 | 6,764 | 188,442 | 195,206 |
210,924 | |||
| Additions | - | 12,777 | 12,777 |
1,058 | |||
| Share Accumulation | - | 3,424 | 3,424 |
2,719 | |||
| Disposal Proceeds | - | (11,916) | (11,916) |
(932) | |||
| Realised Gains/(Losses) | - | (265) | (265) |
68 | |||
| Unrealised Gains/(Losses) | (452) | 8,066 | 7,614 |
(18,688) | |||
| Movement in Cash | - | (33) | (33) |
57 | |||
| ______ | ______ | ______ |
______ | ||||
| Market Value at 31st March 2024 | £6,312 | £200,495 | £206,807 |
£195,206 | |||
| ______ | ______ | ______ |
______ | ||||
| The Investment Wrap with Standard Life was invested | on 23 November 2017 and returned 6.4% (net of fees) | ||||||
| in the | year to 31 March 2024. In the equivalent period the M&G | Charifund Sterling Accumulating Class | |||||
| returned 4.3%. The wrap is invested in a mix of UK and overseas equities, bonds and other asset classes. | |||||||
| 2024 | 2023 | ||||||
| 9. | STOCKS | £ | £ | ||||
| Stocks | £2,000 | £2,000 | |||||
| ______ | ______ | ||||||
| 10. | DEBTORS | ||||||
| Other Debtors | 749 | 2,972 | |||||
| Prepayments and accrued income | 807 | 938 | |||||
| ______ | ______ | ||||||
| £1,556 | £3,910 | ||||||
| ______ | ______ | ||||||
| 11. | CASH AT BANK AND IN HAND | ||||||
| Barclays | 19,235 | 12,951 | |||||
| CCLA Charities Deposit Fund | 659 | 629 | |||||
| __ | __ | ||||||
| £19,894 | £13,580 | ||||||
| _ | _ | ||||||
| 12. | CREDITORS | ||||||
| Amounts due within one year | |||||||
| Accruals and deferred income | 7,670 | 4,220 | |||||
| Other creditors | - | - |
The Investment Wrap with Standard Life was invested on 23 November 2017 and returned 6.4% (net of fees) in the year to 31 March 2024. In the equivalent period the M&G Charifund Sterling Accumulating Class returned 4.3%. The wrap is invested in a mix of UK and overseas equities, bonds and other asset classes.
__ _ £7,670 £4,220 ___
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024
(Continued)
| 13.FUNDS | 13.FUNDS | |||
|---|---|---|---|---|
| 2024 202 2024 Unres Haddon Fun £ Songs V Fun £ Marty Antioch £ Sub Tot £ Endow Fun £ Design Clay Be £ Gene Fun £ Tot £ Balance Brought 10 1 1 (3 210 |
2024 202 2024 Unres |
|||
| Income Expenditure Realised Gai Unrealised G Transfers Balance Carr |
( 17 (18 __ 27 (22 7 ___ £ £1 £1 _ £1 £(4 __ £222 |
|||
| _ |
Pa
Restricted Funds:
The Songs Volume 2 and Martyr of Antioch Funds represent amounts collected via funds are paid to recording companies upon the recording of the discs.
Endowment Funds:
This fund was set up during the year ended 31st March 2015 as an initiative to yield
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
- FUNDS (C
| Balance Brought | 2 (1 22 |
||
|---|---|---|---|
| Income Expenditure Realised Ga Unrealised G Transfers Balance Car |
- __ (1 (8 (1 __ 2 (14 (18 ___ £1 £16 _ £1 £(3 __ £21 Pag |
Page 19
SIR ARTHUR SULLIVAN SOCIETY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31ST MARCH 2024 (Continued)
14 . ASSETS BETWEEN FUNDS
| 14. ASSETS BETWEEN FUNDS Unrestricted Fund £ Fixed Assets Investments Current Assets Creditors falling due within one year 191,215 9,783 (7,670) _ £193,328 _ |
2024 Restricted Fund £ Endowment Fund £ Total £ 11,206 75 - __ 4,386 13,592 - _ 206,807 23,450 (7,670) _ £11,281 £17,978 £222,587 ____ |
|---|---|
| Unrestricted Fund £ Fixed Assets Investments Current Assets Creditors falling due within one year 182,650 5,793 (4,220) _ £184,223 _ 15. OPERATING LEASES |
Unrestricted Fund £ Fixed Assets Investments Current Assets Creditors falling due within one year 182,650 5,793 (4,220) _ £184,223 _ 15. OPERATING LEASES |
2023 Endowment Fund £ 3,806 12,297 - __ £16,103 ____ 2024 £ |
Total £ 195,206 19,490 (4,220) _ £210,476 _ 2023 £ 216 738 £954 |
||
|---|---|---|---|---|---|
| Restricted Fund £ 8,750 1,400 - __ £10,150 ____ |
|||||
| The future minimum payments under non-cancellable operating leases are as follows: |
|||||
| within one year within one to five years |
216 522 |
||||
| £738 | |||||