Registered Charity 500738
THE LEEDS GILBERT AND SULLIVAN SOCIETY
Trustees’ Report and Financial Statements
For the year ended 31 March 2025
1
The Leeds Gilbert and Sullivan Society Trustees’ Annual Report For the year ended 31 March 2025
Contents
Trustees Annual Report ..................................................................................................................................... 3 Reference and administration details ........................................................................................................... 3 Structure, governance and management ..................................................................................................... 3 Objectives and activities ................................................................................................................................ 3 Achievements .................................................................................................................................................... 4 Key achievements in year include: ............................................................................................................ 4 Financial review ................................................................................................................................................ 4 Independent Examiner’s Report to the Trustees of The Leeds Gilbert and Sullivan Society ............................ 6 Balance Sheet at 31 March 2025 ...................................................................................................................... 7 Statement of Financial Activities for the Year Ending 31 March 2025 .............................................................. 8 Notes to the Financial Statements for the Year Ending 31 March 2025 ........................................................... 9
2
Trustees Annual Report
Reference and administration details
The Leeds Gilbert and Sullivan Society is registered with the Charity Commission under reference number 500738. The address registered with the Commission and the address for correspondence is 19 Chestnut Drive, Leeds LS16 7TL.
Website: www.leedsgands.org.uk
E-mail: committee@leedsgands.org.uk
The trustees of the charity, and their dates of appointment or resignation if they didn’t serve throughout the year, are:
Judith Smith Daryl Pickthall Katie Lister
Officers
Chair: Janet Johnston Secretary: Hannah Faulkner Treasurer: Vacant
The charity’s main advisers are:
| Banking | HSBC Bank, Park Row, Leeds |
|---|---|
| Investments and deposits | Charity Official Investment Funds (COIF), Angel Lane, London |
| Insurance | Lloyd and White Ltd (NODA Insurance), Taunton |
Structure, governance and management
The charity is governed by the Society’s Rules dated 15th February 1971 as amended 18 June 2007. The trustees and the charity’s officers are elected annually at the Annual General meeting and they, together with a committee elected by the members, manage the affairs of the charity.
Objectives and activities
The objects of the charity are 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. The charity achieves these objects by public performances in various forms by its volunteer members.
3
Achievements
Key achievements in year include:
-
Critical success with the Society’s main production, Titanic: The Musical, which yielded good ticket sales, excellent reviews, increased membership and received 15 Leeds Community Arts Network award nominations, winning Best Director and Best Supporting Actor.
-
Fundraising via various internal and public events across the year, including an afternoon tea/history of Leeds G&S event and a very successful winter concert with City of Bradford Brass Band and Leeds Youth Opera. Members also supported fundraising efforts via a variety of initiatives.
The Trustees, by encouraging people of all ages to attend these performances and events, and/or participate in them, consider that the Charity was able to fulfil its objectives in full.
Financial review
Total incoming resources for the year amounted to £37,975 (PY: £33,836), a substantial improvement on the prior year. A detailed breakdown of income can be seen in note 6.
Incoming resources from charitable activities increased to £30,175 (PY: £25,271) due to over £3,000 of concert ticket sales of a winter concert with City of Bradford Brass Band and Leeds Youth Opera. Additionally improved sale of tickets, and a moderate increase in member performance fees.
Other activities, including fundraising, slightly declined to £4,109 (PY: £4,552) due to the winter concert, there wasn’t a standalone concert this year as part of fundraising efforts but a series of smaller events which were still successful both financially and socially.
The Trustees wish to place on record their appreciation for the various fundraising efforts by members which helped fund the production deficit and thank the individuals who made donations to the society.
Total resources expended for the year were £39,337 (PY: £33,754). A detailed breakdown can be seen in note 7.
Production expenditure on Titanic increased from the prior year £33,027 (PY: £29,113). Increases in theatre hire prices and royalty fees account for most of the increase.
Concert expenses of £2,266 (PY: £0) included the cost of distributing a share of profits with City of Bradford Brass Band and Leeds Youth Opera.
Overall, the net loss for the year was £1,362 (PY: net profit of £82). The majority of this relates to charitable activities. While the concert contributed £765 of gain, the increases in production ticket sales were not enough to offset the increases in production cost.
The unrealised loss on the revaluation of investments was £2,103 (PY: £3,746 gain) making the total outgoing movement in funds for the year £3,465 loss (PY: £3,829 gain).
The total funds of the Society at the year end, all of which are unrestricted, were £62,508 (PY: £65,973) made up of the Braime Fund £43,040 (PY: £45,143), the Sharman Fund £2,500 (PY: £2,500) and the General Fund £16,968 (£18,330).
At 31 March 2025, the investments were valued at £43,040 (£45,143), cash held in current and deposit accounts was £21,740 (PY: £18,948), debtors and prepayments amounted to £7,356 (PY: £10,814), whilst creditors, accruals and deferred income were £9,628 (PY: £8,932). The total of net assets was £62,508 (PY: £65,973).
4
Independent Examiner's Report to the Trustees of The Leeds Gilbert and Sullivan Society Responsibilities and basis of report As Trustees of the Society you are responsible for the preparatlon of the accounts in accordance with the Charities Act 20111.the ACVI. I report in respect of my examination of the Societys 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 14515llbl of the Act. Independent examinerfs 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 accordance with section 130 of the 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 IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which 15 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. &l,"/ 25 Loulse Hunter FCA
���� |
���������������������������������������������������������� |
|
|---|---|---|
��������������������� |
������������ |
|
������������� |
||
��������������������� |
����������� |
|
������������������� |
������������ |
|
������������� |
||
� |
||
���������������������������������������� |
�������������� |
|
���������������� |
������������� |
|
�������������� |
������������� |
|
� |
||
����������������� |
��� |
|
������������������ |
||
��������������� |
������������ |
|
�������������� |
������������� |
|
������������ |
||
� |
The Leeds Gilbert and Sullivan Society
Statement of Financial Activities for the Year Ending 31 March 2025
| Statement of Financial Activities for the Year | Ending 31 March 2025 |
|---|---|
| Note INCOMING RESOURCES 6 Income and endowments from: Donations and legacies Charitable activities Fund raising activities Investments Total incoming resources RESOURCES EXPENDED 7 Expenditure on: Charitable activities Fundraising costs Total resources expended Net (expenditure)/income before investment gains/(losses) Other recognised (losses)/gains Losses and gains on revaluation of fixed assets for the charity’s own use Net movement in funds Total funds brought forward Total funds carried forward 5,9 |
Unrestricted funds Unrestricted funds 2025 2024 £ £ 2,025 2,249 30,175 25,271 4,109 4,552 1,666 1,764 |
| 37,975 33,836 |
|
| 39,087 32,699 250 1,055 |
|
| 39,337 33,754 |
|
| (1,362) 82 (2,103) 3,746 |
|
| (3,465) 3,829 65,973 62,144 |
|
| 62,508 65,973 |
8
The Leeds Gilbert and Sullivan Society
Notes to the Financial Statements for the Year Ending 31 March 2025
1. Accounting policies
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. Funds
Unrestricted funds are either general funds which can be used for Society ordinary purposes or designated funds earmarked by the Trustees for particular purposes.
Incoming resources
| Incoming resources | |
|---|---|
| Recognition of incoming | These are included in the Statement of Financial Activities (SoFA) when: |
| resources | • the charity becomes entitled to the resources; |
| • the trustees deem it reasonably probable that they will receive the |
|
| resources; and | |
| • the monetary value can be measured with sufficient reliability. |
|
| Incoming resources with related | Where incoming resources have related expenditure (as with fundraising or |
| expenditure | contract income) the incoming resources and related expenditure are reported |
| gross in the SoFA. | |
| Grants and donations | Grants and donations are only included in the SoFA when the charity has |
| unconditional entitlement to the resources. | |
| Tax reclaims on donations and | Incoming resources from tax reclaims are included in the SoFA at the same |
| gifts | time as the gift to which they relate. |
| Contractual income and | This is only included in the SoFA once the related goods or services have been |
| performance related grants | delivered. |
| Gifts in kind | Gifts in kind are accounted for at a reasonable estimate of their value to the |
| charity or the amount actually realised. | |
| Gifts in kind for sale or distribution are included in the accounts as gifts only | |
| when sold or distributed by the charity. | |
| Gifts in kind for use by the charity are included in the SoFA as incoming | |
| resources when receivable. | |
| Donated services and facilities | These are only included in incoming resources (with an equivalent amount in |
| resources expended) where the benefit to the charity is reasonably | |
| quantifiable, measurable and material_._The value placed on these resources is | |
| the estimated value to the charity of the service or facility received. | |
| Volunteer help | The value of any voluntary help received is not included in the accounts but is |
| described in the trustees’ annual report. | |
| Investment income | This is included in the accounts when receivable. |
| Investment gains and losses | This includes any gain or loss on the sale of investments and any gain or loss |
| resulting from revaluing investments to market value at the end of the year. |
| Expenditure and liabilities | |
|---|---|
| Liability recognition | Liabilities are recognised as soon as there is a legal or constructive obligation |
| committing the charity to pay out resources. | |
| Governance costs | Include costs of the preparation and examination of statutory accounts, the |
| costs of trustee meetings and cost of any legal advice to trustees on | |
| governance or constitutional matters. |
9
Grants with performance Where the charity gives a grant with conditions for its payment being a specific conditions level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.
Assets
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or a reasonable value on receipt.
2. Fixed Asset investments
| Market Value 1 April Unrealised revaluation gain/(loss) Market Value 31 March |
2025 2024 £ £ 45,143 41,397 (2,103) 3,746 |
|---|---|
| 43,040 45,143 |
Some years ago, the society was gifted 4,200 non-voting shares in T.F. & J.H. BRAIME (HOLDINGS) P.L.C. which were eventually sold and the net proceeds of sale, £29,188 (the historical cost), were reinvested in COIF Investment Fund shares - representing the entirety of the unrestricted designated Braime Fund.
3. Debtors and prepayments
| Other debtors Prepayments and accrued income |
Amounts falling due within one year 2025 2024 £ £ 175 314 7,181 10,500 |
|---|---|
| 7,356 10,814 |
4. Creditors and accruals
| Creditors and Accruals Deferred Income |
Amounts falling due within one year 2025 2024 £ £ 3,076 3,054 6,552 5,878 |
|---|---|
| 9,628 8,932 |
10
5. Unrestricted Funds
| 5. Unrestricted Funds | |
|---|---|
| Fund Purpose of fund Designated Funds: Braime Fund General unrestricted purposes of the society. Maintained as a separate designated fund to maintain the historical connection with the donor. Sharman Fund General unrestricted purposes of the society but with a donor expressed preference to be used for activities connected with the works of Gilbert & Sullivan. Maintained as a separate designated fund to maintain the historical connection with the donor. General Reserves General unrestricted purposes of the society 6. Analysis of incoming resources Donations and legacies Members' subscriptions Donations Charitable Activities Friends' subscriptions and tickets Tickets sold through the Theatre Members’ performing fees Programme Sales Concert receipts Fundraising Activities Sale of production merchandise 500 Club Fundraising Income Raffle Income Investment income Bank interest received Dividends TOTAL INCOMING RESOURCES |
2025 2024 £ £ 43,040 45,143 2,500 2,500 |
| 45,540 47,643 |
|
| 16,968 18,330 |
|
| 62,508 65,973 |
|
| 2025 2024 £ £ 1,954 2,097 71 152 |
|
| 2,025 2,249 |
|
| - - 21,002 19,864 5,148 4,683 1,003 724 3,022 - |
|
| 30,175 25,271 |
|
| 881 - 994 1,090 1,947 3,134 287 328 |
|
| 4,109 4,552 |
|
| 431 257 1,235 1,507 |
|
| 1,666 1,764 |
|
| 37,975 33,836 |
11
| 7. Analysis of resources expended Charitable activities Affiliation fees Insurance Admin expenses Credit card and bank charges Theatre ticket sale commission NODA badges - net cost to society Website costs Storage facilities Cost of production merchandise sold Production expenditure Programme costs Concert expenses NODA rep and other free tickets Raising funds Fundraising costs TOTAL RESOURCES EXPENDED |
2025 2024 £ £ 288 249 752 734 207 49 969 960 0 0 77 0 128 388 480 900 570 0 33,027 29,113 323 306 2,266 - 0 0 |
|---|---|
| 39,087 32,699 |
|
| 250 1,055 |
|
| 250 1,055 |
|
| 39,337 33,754 |
8. Analysis of Net Assets by Fund
| Fund Braime Fund Sharman Fund General Reserves |
Fixed Asset Investments 43,040 - - |
Debtors and prepayments Cash - - - 2,500 7,356 19,240 |
Current liabilities Total - 43,040 - 2,500 (9,628) 16,968 |
|
|---|---|---|---|---|
| 43,040 | 7,356 21,740 |
(9,628) 62,508 |
9. Unrestricted Funds Current year – 31 March 2025
| 9. Unrestricted Funds Current year– 31 March 2025 |
||||||
|---|---|---|---|---|---|---|
| Fund name Type of unrestricted fund Braime Fund Designated Sharman Fund Designated General Reserves Unrestricted Previous year–31 March 2024 Fund name Type of unrestricted fund Braime Fund Designated Sharman Fund Designated General Reserves Unrestricted |
Balance brought Forward 45,143 2,500 18,330 |
Income - - 37,975 |
Expenditure Gains and Losses - (2,103) - - (39,337) - |
Balance carried forward 43,040 2,500 16,968 |
||
| 65,973 | 37,975 | (39,337) (2,103) |
62,508 | |||
| Balance brought Forward 41,397 2,500 18,247 |
Income - - 33,836 |
Expenditure - - (33,754) |
Gains and Losses 3,746 - |
Balance carried forward 45,143 2,500 18,330 |
||
Fund name Braime Fund Sharman Fund General Reserves |
||||||
| 62,144 | 33,836 | (33,754) | 3,746 | 65,973 |
The purposes of each fund are detailed in note 5.
12