THE LEEDS AMATEUR OPERATIC SOCIETY Registered Charity No. 509915 Annual Report & Financial Statements st For the period I September 2023 to 31 August 2024
THE LEEDS AMATEUR OPERATIC SOCIETY Annual Report and Financial Statements For the period I" September 2023 to 31st August 2024 Contents Page Legal & Administrative Information Trustee's Annual Report 4t05 Statement of Financial Activities Balance Sheet Notes to the accounts Show Income & Expenditure Accounts 9tolO Trustee's Declaration 11 Report and Financial Statements For the Year Ended 31 August 2024 Page 2
THE LEEDS AMATEUR OPERATIC SOCIETY Legal and Admlnlstrative Information GOVERNING OFFICERS Name Posltlon Mrj M Fairfoot Mr M Porter Mrs B Booth IFCCAI Mr A Thomson Mrs G M Ellis President Chairman Honorary Treasurer Honorary Production Manager Honorary Secretary COMMIThEE MEMBERS Miss K O'sullivan Mrsj D Page Mr P Hopkins Mrs Sefton Vice Chairman Method of appolntment The Society was governed by the above Officers, who are elected annually at the AGM, together with committee members, who are elected for three years, two of whom retire annually. Correspondence address Bankers Mfs Beverley Booth (FCCAI 3 Stratton Park Brighouse HD6 3SN Santander Park Row Leeds Tel:. 0800 030 4321 Governing document The Leeds Amateur Operatic Society (LAOS) is a constituted organisation governed by the Rules of Membership dated 2020. It is registered with the Charity Commission number 509915. Rules revised 1966, amended Ottober 1967, October 1976 and October 2005. Report and Financial Statements For the Year Ended 31 August 2024 Page 3
THE LEEDS AMATEUR OPERATIC SOCIETY Trustee's report for the perlod I" September 2023 to 31" August 2024 OBJECTS AND POLICIES The objects of the Society are to fosterthe public knowledge and appreciation of Music and Drama by means of public performances by voluntary but subscription paying members and to donate part of its production surplus to charitable purposes as the Trustees shall from time to time determine. ACTIVITIES AND ACHIEVEMENTS The activities of the Society during the year involved one main production in March 2024, Legally Bonde the Musical, staged once more in the spectacular Leeds Grand Theatre. The production proved to be anotherfinancial successfor the society. Legally Blonde returned a profit of £31,568 attracting an audience of more than six thousand across the seven performances. with 59¥. of the theatre capacity sold compared to 52% for Kinky Boots in 2023. The Society were delighted to welcome some new member5 in principal roles and some as company members, which enabled the Society to maintain high standards and enabling the objects of the Society to be achieved. Aligned with the objects of the Society and the theme of the Legally Blonde production, the Trustees approved the payment of a charitable donation of £3,000 to the Sutton Trust, Leeds. After an unprecedented period in the SoCies financial history, post Covid we saw 2023 production costs for Kinky Boots notably increasing by +22%, in comparison to those incurred previously by our pre-pandemic productions. The Society have been able to manage the 2024 increase in production costs largely in line with inflationary pressures year on year, with an increase of +5.5%. The Leeds Grand theatre rental costs were held flat year on year. We envisage the pressure on production costs to continue to follow an upward trajectory at least in the short term, due to ongoing inflationary and economic pressures. Ticket prices across the top tier pricin8 bands A and B were increased, to mitigate the increased production costs. Pricing for the lower tiers Band C to F were held flat year on year. Ticket sales revenue and the performances of Legally Blonde were strong and propelled the ticket sales revenue for the Society to exceed £190,000 for the first time in the Society history. Thi5 was a +8% inCaSe compared to Kinky Boots in 2023 and +33% increase compared to the pre-pandemic production of West side Story in 2019. The Societvs bank balances remain healthy at £162,443 which the trustees consider adequate to meet the essential workin8 capital to fund the investment in future productions. We will continue to build on our financial position and we are looking ahead with excitement to our next major production, Les Misérables: Let the People Sin& to be performed at the Leeds Grand Theatre in April 2025. We have incurred £872 planning costs in 2024 associated with this production. Several committee member changes were made at the AGM in December 2023. Nicola Brook, Sian Crossley and Christine Rowlands resigned from their roles and were replaced by Kirsty O'sullivan and Steve Sefton. We thank the retiring committee members fortheir contributions and dedication to the Society. Report and Financial Statements For the Year Ended 31 August 2024 Page 4
THE LEEDS AMATEUR OPERATIC SOCIETY Trustee's report for the period lrt September 2023 to 31" August 2024 (continued) TRUSTEE5 RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS Law applicable to charities in England and Wales requires the Trustees to prepare financial accounts for each financial 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, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and apply them consistentlv. Make judgements and estimates that are reasonable and prudent; State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the accounts on a going concern basis, unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial accounts comply with the applicable laws and regulations. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Report and Financial Statements For the Year Ended 31 August 2024 Page 5
THE LEEDS AMATEUR OPERATIC SOCIETY Statement of Financial Actlvlties for the period I" September 2023 to 31" Au8llSt 2024 (includlng summary income and expenditu account) 2024 Total funds 2023 Total funds Incoming resources Donations Interest Received Members Subscriptions & Show Fees Other Revenue Programme Sales Ticket Sales Total Incoming resources 675 1,530 5,074 1,124 3,387 192,326 204,116 730 599 4,481 1,787 3,255 177,449 188,301 Resources expended Audit & Accountancy Fees Charitable Donations Consulting Fees Costume5 Depreciation Insurance & Subscriptions IT Software & Consumables Marketing, Publicity & Pro8rammes Musical Director Orchestra Producerfs Fee Room Hire Royalties Scenery. Props, Sound & Lighting Stage Manager's Fee Stationery Sundry Expenses Theatre Rent Total resources expended Net incomlng resources Fund balances brought forward Fund balances carrled forward 521 3,000 1,395 2,315 749 1,126 73 15,902 6,530 9,055 6,050 2,769 38,480 26,150 3,450 619 500 2,895 5,650 374 733 253 16,056 6,112 6,824 5,500 2,248 34,527 25,425 1,750 4,468 52,270 174,303 29,813 138,702 168,515 2,589 52,082 {164,137) 24,164 114,538 138,702 Report and Financial Statements For the Year Ended 31 August 2024 Page 6
THE LEEDS AMATEUR OPERATIC SOCIETY Balance sheet as at 31" August 2024 2024 2023 Fixed assets Tangible assets Total fixed assets 1,499 1,499 748 748 Current assets Debtors Prepayments Cash at bank- 271 Cash at bank-480 Total current assets 5,123 2,948 161,364 133,553 1,079 2,008 167,566 138.509 Current liabilities: amounts falling due withln one year 550 555 Net current assets 167,016 137,954 Total Assets less Current Liablllties 168,515 138,702 Funds Unrestricted funds before Add surplus 138,702 114,538 29,813 24,164 Less deficit Total funds 168,515 138.702 Report and Financial Statements For the Year Ended 31 August 2024 Page 7
THE LEEDS AMATEUR OPERATIC SOCIETY St Notes to the accounts for the period I" September 2023 to 31 August 2024 Accounting pollcles Basis of accounting The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities {SORP 2005}, the Companies Act 2006 and Financial Reporting Standard for Smaller Entities (effective April 2008). Incoming resources All incoming resources are included in the Statement of Financial Activities ISOFA) when the charity becomes entitled to the resources, the trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability. Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance. Expenditure and liabilities Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised a5 soon as there is a legal or constructive obSigation committing the charity to pay out the resources. Taxation As a charity, the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those item5 to which it relates. Tangible flxed assets Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows: Project and office equipment- 15%; Computing equipment -25% Fund accountlng Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Further explanation of the nature and purpose of each fund is included in the notes to the accounts. Report and Financial Statements For the Year Ended 31 August 2024 Page 8
THE LEEDS AMATEUR OPERATIC SOCIETY Produrtlon Income & Expenditure Account 2024 2023 Incoming resources Donations Show Fees & Sponsorship Programme Sales ricket Sales 325 3,601 3,255 177,449 184.630 2.778 3,387 192,326 198,491 Expenditure Costumes Insurance Marketing, Publicity & Program Printing Musical Director Orchestra Producerfs Fee Room Hire Royalties Scenery, Props, Lighting & Sound Stage Managerfs Fee Sundry Expenses Theatre Rent 2,315 5,650 55 16,056 6,112 6,824 5,500 2,097 34,527 25,425 1,750 2,134 52,082 {158,212) 15,902 6,530 9,055 6,050 2,464 38,480 26,150 3,450 4,257 52,270 166,923 Surplus/(Deficit) 31.568 26,418 Report and Financial Statements For the Year Ended 31 August 2024 Page 9
THE LEEDS AMATEUR OPERATIC SOCIETY General Expenses 2024 2023 Incoming resources Donations Interest Received Other Revenue Members Subscriptions 675 1.530 76 3,345 5,626 404 599 121 2,547 3,671 Expenditure Audit & Accountancy Fees Charitable Donations Consultancy Depreciation Insurance & Subscriptions Room Hire Stationery & IT Sundry Expenses/Reimburse Officials 521 3,000 619 500 2,895 374 678 749 1,126 120 151 73 253 455 (5,925) 919 (6,508) Surplus/{Deficit) (882) (2,254) Report and Financial Statements For the Year Ended 31 August 2024 Page 10
The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees: Signature(s) Full name{s) . GILLIAN ELLIS Posltion . Honorary Secretary th Date . 12 January 2025 Report and Financial Statements For the Year Ended 31 August 2024 Page 11
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES ON THE FINANCIAL STATEMENTS OF LEEDS AMATEUR OPERATIC SOCIETY We report on the accounts of Leeds Amateur Operatic Society for the year ended 31 August 2024 Respectlve responslbllltl•$ of truste¢s and examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees conslder that an audit is not required for this year {under sections 144 and 145 of the Charities Act 2011 (the 2011 Act)> and that an indep6ndent examination is needed. It is our responsibility to: examine the accounts (under section 146(3) of the 2011 Act): to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5) of the 2011 Act; and to state whether particular matters have come to our attention. Basls of independent examlnerfs report Our examination was carried out in acconlance with the General Directions given by Ihe Charity Commission. An examination includes a review of the accounting records kept by the charlty and comparison of the accounts presented with those records. It also includes consideration of any unusual Items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidenc8 that would be required in an audit. and consequently we do not express an audit opinion on the view given by the accounts. Independent axaminerfs statement In connectlon with our examination, no matter has come to our attention.. (1) which gives us reasonable cause to belleve that in. any material respect, the requirements: to keep accountlng records in accordancè with section 130.and 131 of the 2011 Act. and to prepare accounts which accord with the accounting records and comply with the accoun 'ng requlremenls of the 2011 Act have not been met., or to which, in ur opinion, attention should b8 drawn in order to enable a proper understsnding of the acco ts to be reached. (2) C W Dlx Llmrt•d Accountants & Buslness Advlsors 4 Silkwood Court Wakefield WF5 9TP Report and Financial Statement5 For the Year Ended 31 August 2024 Page 12