2022-12-31-accounts

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SOUTHAMPTON MUSICAL SOCIETY

Trustee’s Report and

Independently Examined Accounts

for the period

01 January 2022 - 31 December 2022

Registered Charity No. 299426

TRUSTEES’ ANNUAL REPORT

REPORT OF THE INDEPENDENT EXAMINER

STATEMENT OF FINANCIAL ACTIVITIES 5

BALANCE SHEET

NOTES TO THE FINANCIAL STATEMENTS

Southampton Musical Society

Trustees’ Annual Report for the period 01 January 2022 to 31 December 2022

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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 published on 16 July 2014.

Objectives and Activities

The objects of the society are:

i. to educate the public in the dramatic and operatic arts; and
ii. to further the development of public appreciation and taste in the said arts; and
iii. to assist and further such charitable institutions and charitable purposes as the committee shall from time to time determine.

The trustees, in making decisions about activities throughout the year, have had due regard to the commission's guidance on public benefit.

The Society aims to stage 2 productions over the course of a year as well as social events for it’s members along with their friends and family.

Achievements and Performance

The Trustees and other members of the committee held 12 meetings throughout the year to discuss the running of the society.

The Annual General Meeting of the Society was held in person on 3[rd] May 2022. Katy Watt was nominated by the membership into the role of President, with no objections received. Both Adrian Jones and Dave Brown were re-elected into the positions of Chairman and Treasurer respectively. Lauren Wilson and Charlotte Mednick were both nominated for General Committee positions filling two vacant positions.

Two new members auditions were held on 26[th] April and 15[th] September resulting in 19 new members being accepted into The Society. The Society once again held a summer BBQ at Royal Victoria Country Park, a karaoke event, a bowling evening and a Christmas curry.

After many delays due to Covid-19 The Addams Family was finally performed on 6[th] -9[th] April followed in the autumn by Sweeney Todd on 5[th] -8[th] October. Both productions were performed at The Point in Eastleigh.

Financial Review

During 2022 Southampton Musical Society achieved a profit of £136.

Total cash at the bank and in hand on 31 December 2022 was £14,609.

Reserves Policy

The Society’s reserve policy for the period ending 31 December 2022 is that enough reserves should be maintained to cover fixed annual expenditure (currently £811) and a

contingency for a loss of up to £3,500 on the next production. The reserves on this date are £14,576, all of which are unrestricted.

Structure, Governance and Management

The Society is an unincorporated association and its governing document is the Constitution adopted April 1985 with the latest amendment dated 18 May 2021.

Trustees are elected by the members at the Annual General Meeting for a term of 2 years. The 4 Trustees serve as Executive Officers on the Committee and hold the posts of Chairman, Treasurer, Business Manager and General Secretary.

Reference and Administrative Details

Charity Name

Southampton Musical Society (also known as SMS)

Registered Charity Number

299426

Registered address:

1 Park View, The Crescent, Netley Abbey, Southampton SO31 5HW

Trustees, role and dates (if not for the full year)

Richard Adrian Jones Chairman David Christopher Brown Treasurer Michael Kurn Business Manager Claire Meehan General Secretary

Declaration

The trustees declare that they have approved the trustees’ report above. Signed on behalf of the charity’s trustees:

Richard Adrian Jones David Christopher Brown Chairman Treasurer Date: 17 Apr 2023 Date: 17 Apr 2023

Independent examiner’s report to the trustees of Southampton Musical Society (Registered charity number: 299426)

I report to the trustees of my examination of the accounts of the above charity (the “Trust”) for the year ended 31 December 2022.

Responsibilities and basis of report

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 Act. 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 which gives me cause to believe that in any material respect:

the accounting records were not kept in 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.

Signed:

Name: R. Earnshaw

Relevant professional qualification(s) or membership of professional bodies: FCCA Address: Fairlawn, Bull Lane, Waltham Chase, SO32 2LS Date: 24 October 2023

Statement of Financial Activities for the period 01 January 2022 – 31 December 2022

	Notes	2022 funds	2021 funds
Income		£	£
Donations & Membership	2.1	5,085	3,268
Production Sales	2.2	22,992	-
Fundraising	2.3	363	89
Sponsorship	2.4	800	-
Other Income	2.5	-	-
Total Income		29,240	3,357

Expenditure
Production Expenditure	3.1	28,081	150
Administration	3.2	940	723
Other Expenditure	3.3	84	154
Total Expenses		29,104	1,027

Net income/ (expenditure)		136	2,329

Total funds brought forward		14,440	12,111
Total funds carried forward		14,576	14,440

Balance Sheet as at 31 December 2022

		2022	2021
Current assets	Notes	£	£
Debtors	4	1,865	1,764
Cash at bank and in hand		14,609	13,243
Total Current Assets		16,473	15,007

Creditors	5
Amounts fallingdue within oneyear		1,897	567

Net Current Assets/ (Liabilities)		14,576	14,440

Unrestricted Funds		14,576	14,440

Total Funds		14,576	14,440

The financial accounts were approved by the trustees on 17 Apr 2023 and were signed on behalf of the charity’s trustees by:

Richard Adrian Jones

Chairman

David Christopher Brown Treasurer

Notes to the Financial Statements for the period 01 January 2022 to 31 December 2022

1. Accounting Policies

1.1. Basis of accounting

The accounts (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 Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) 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 has 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 (FRS 102) 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.

1.2. Going Concern

The trustees have a reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the financial statements.

1.3. Fund Accounting

Unrestricted funds are spent or applied at the discretion of the trustees to further any of the charity’s purposes.

Funds held on specific trusts under charity law are classed as restricted funds. The specific trusts may be declared by the donor when making the gift or may result from the terms of an appeal for funds.

The charity currently holds no restricted funds.

1.4. Recognition of income

All income is recognised once the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources, and the monetary value can be measured with sufficient reliability.

1.5. Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

1.6. Creditors

Creditors are measured at settlement amounts less any trade discounts.

1.7. Debtors

Debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

2. Analysis of Total Income

2.1. Donations & Membership

	Total 2022	Total 2021
	£	£
Member Subscriptions	3,095	2,447
Production Fees	1,391	215
Donations	1	65
Gift Aid	599	542
Total	5,085	3,268
	Total 2022	Total 2021
	£	£
Production Sponsorship	-	-
General Sponsorship	800	-
Total	800	-

2.5. Other Income

	Total 2022	Total 2021
	£	£
Misc	-	-
Total	-	-
	Total 2022	Total 2021
	£	£
NODA Membership	72	54
Website Costs	80	56
Insurance	529	549
Venue Hire	52	40
Accounting	45	19
Card ProcessingFees & Related Expenses	96	-
Bank Charges	65	5
Total	940	723

3. Analysis of Total Expenditure

3.3. Other Expenditure

. Other Expenditure
	Total 2022	Total 2021
	£	£
Postage & Stationary	20	8
Miscellaneous Expenses	-	-
Fundraising& Social Event Costs	64	146
Total	84	154
btors
	2022	2021
	£	£
Debtors
Prepayments	1,837	1,764
Trade Debtors	28	-
Total	1,865	1,764
editors
Creditors: Amounts falling due within oneyear	2022 £	2021 £
Receipts in advance Uncleared Cheques Trade creditors	1,892 - 5	412 150 5
Total	1,897	567

Debtors