TREASURERS' REPORT FOR THE YEAR ENDED 31ST DECEMBER, 2021
Treasurer: Ian Burrell
Accounts Examined by: Barbara Double
Good evening!
I can’t quite believe that it was three years ago when I tentatively offered to take on the role of Treasurer. Who could have imagined then that it would have been three years before I would be able to give my first “in person” Treasurer’s Report at an AGM!
I thought it might be helpful to give you a brief “tour” through the different sections of the accounts, before giving you a brief summary of the headlines!
Let’s look first at Appendix A. This gives the simplest and clearest breakdown of our Income and Expenditure for 2021 – what came in and what went out between 1 January and 31 December. (As with some of the other sheets, the figures for the previous year, 2020, are provided, simply for comparison.) You will see that, on this sheet, there is one figure for ‘Income from Shows and Concerts’ and one for ‘Expenditure for Shows and Concerts’. The breakdown of these figures is shown in Appendix B, because it would be too complicated to show all of this in the main ‘Income and Expenditure’ sheet – bear in mind that in a “normal” set of accounts, there would be figures for several shows in each year.
We’re now going to work backwards through the “proper” accounts, pages one to five… and don’t worry – I haven’t forgotten Appendix C!!!
Page 5 ‘Debtors and Creditors’. It would be great if all the income and expenses relating to 2021 were settled in 2021 but, of course, it’s not quite that straightforward. There are no hard and fast rules about what should or shouldn’t be included on this page, and I have tried to limit it as much as possible (the more you include, the more complicated it gets!) My rule of thumb has been only to include payments made to us since the start of this year for items or services received in 2021 – listed as ‘Debtors’ – and payments made by us since the start of this year for items or services received in 2021 – listed as ‘Creditors’. It is sometimes the practice to also include ‘payments in advance’ on this sheet, in other words, payments made in one year for items or services to be received in the following year. In our case, these payments are normally related to future shows – licence fees, deposits for scripts, music and royalties, etc. Since these figures are shown clearly in our show accounts, I don’t include them here.
Of course, just to further complicate matters, Debtors and Creditors included in last year’s accounts have to be removed from this year’s accounts, hence the section headed ‘Reconciled Debtors and Creditors 2020’.
Page 4 ‘Assets’. This page gives the full value of all of our assets. It is made up of our ‘Fixed Assets’ – the things we possess – and our ‘Current Assets’ – the money that we have.
The ‘Current Assets’ provide a very clear, simple picture of our financial status. It is made up of the money that we have, either as cash in hand or in the bank, with the figure then adjusted to take account of the Debtors and Creditors – i.e. what we should actually have once those debts and credits have been paid.
Page 3 ‘Show Accounts’. If you compare this sheet with Appendix B, you will see that they are very similar, with just two adjustments. The £42.71 under ‘Christmas Countdown’ is the sum of the two donations listed as ‘Reconciled Debtors 2020’ on Page 5, i.e. that figure was already included in last year’s accounts, so has to be deducted this year. The £80.71 under “Jingle All the Way” is the sum of the two amounts listed as ‘Creditors’ on Page 5. This figure will have to be reconciled in next year’s accounts.
Page 2 is our full reconciled accounts. If you compare this sheet with Appendix A, again you will see that they are very similar. The figures for each item are the same as in Appendix A, unless they have been adjusted for ‘Creditors and ‘Debtors’, in which case this is noted alongside.
The first ‘Overall Balance’ figure is the balance between these reconciled figures for Income and Expenditure. The second ‘Overall Balance’ figure is the balance between the figure for ‘Assets’ last year (‘Assets b/f) and ‘Assets’ this year (‘Assets c/f).
If these two figures match… it means that the figures balance correctly and the accounts are ready to be assessed by our Independent Examiner.
Hence, Page 1 is our Independent Examiner’s Report, which confirms the accuracy of the accounts and that, with your acceptance, that they can be filed with the Charities Commission.
Finally, back to Appendix C. This shows the total figures for each show, regardless of when payments were made or received, so gives the clearest indication of how financially successful each show was (or wasn’t!)
And so to the headlines!
On the face of it, 2021 was a successful year financially. The balance for the year shows an overall profit of £16,531.88 and, therefore, our current assets are in a much healthier position than they were twelve months previously.
BUT… and it’s a big BUT! We received COVID grants in 2021 totalling £16,897.58. In other words, left to our own devices, we would have come in with a deficit of £365.70. In addition, last year I made a Gift Aid claim which covered the period from 2018-2020. It came to £3,342.92. On the plus side, that’s a terrific amount and it’s great that so many members are signed up for Gift Aid now – more about that in a moment. However, if you average it out, that’s just over £1,100 each year so, for a true reflection of last year’s figures, you probably need to deduct another £2,200, meaning there could have been a deficit of over £2,500.
Fortunately, that’s not the case, but there is good reason for us to be cautious going forward.
First and foremost, we are a Musical Theatre Company. We exist to do Musical Theatre; to put on shows that we can all enjoy being part of, whether on stage, backstage, front of house or in the audience. We simply can’t afford to put on shows that make a loss. We are all looking forward to bringing ‘Calendar Girls’ to the Tomkins Theatre in June… but even if we make it a sellout, we won’t do much more than break even. Our “big shows” at the Courtyard are an even greater risk. Choosing the “right show” is about as scientific as rolling dice – whatever we do, we have to do everything we can to push, plug and promote our shows and sell every ticket that we can. At this point, I have to say a huge thank you to the team behind “Jingle All the Way” for a terrific effort which brought in a profit of nearly £1000. And although it’s strictly not covered by this report, I must say how much I enjoyed “Matilda” last week. Definitely one of the best shows our Youth Group has ever put on and it was great to see so many people enjoying it… I am eagerly awaiting the Box Office figures from TicketSource!
Another, more mundane, but nevertheless essential element in keeping our heads above water is the hire of the hall by external users. PM has managed this aspect for a number of years and the last year has been particularly fruitful in this respect with some very beneficial regular daytime bookings. Please remember that the hall is available for booking for parties, social gatherings, meetings, etc., so do let PM know if you’re interested. Perhaps, at this point, I could also remind you about our “Just Giving” page and that any individual or group can fund-raise on our behalf. Please do think about this if you have the opportunity! If you want to know more, please don’t hesitate to get in touch.
Of course, now that the Tomkins Theatre is back in regular use, our utilities bills have gone up again and they are currently rising exponentially due to the fuel crisis! It’s really important that we keep our use of the heating as low as possible at the moment, so please don’t try to fiddle with the heating controls… just come suitably attired for the prevailing conditions!
I’m pleased to report that subscriptions in all our groups have more or less held their own from last year. We hope that now we can return to producing live shows, we can, once again, attract new members. It would be great if we could also encourage more people to become Friends. Please do consider if there are people that you know who might like to join us. New subscription rates came into effect in January. No changes are proposed for next year. As I said last year, it is incumbent on all of us to do all that we can to attract and retain new members and Friends. Meanwhile, thank you again our Members’ Secretary and our Friends’ Secretary for their continued work coordinating these aspects.
The 50 Club continues to provide valuable additional income thanks to all who continue to support it. GJ has been the driving force behind it for the last three years, but he is now passing the baton on to ML. Thank you GJ for all your energy in this task and we wish ML well in this new role.
Thank you to everyone who has made use of electronic banking to make their payments over the last year, it really does make my life as Treasurer so much easier. Please continue to make your payments in this way if at all possible.
Earlier, I mentioned Gift Aid, and although, as I said, many have signed up, I’m sure that there are others who could do so. It’s worth remembering that just a £60 membership subscription will yield another £15 in Gift Aid – so, for ten members, that’s £150. If you are a tax payer and have not previously filled out a Gift Aid form, please let me know. It is simple to do and we can still claim Gift Aid on any eligible payments made in the last four years. Please also remember that, if you have previously completed a form and any of your details – name, address, etc – have changed, it is important to let me know so that our records can be updated.
The process of transitioning to CIO has been far slower than anticipated. As I said last year, once the transition to CIO is complete, I will need to ask everyone to submit a new Gift Aid declaration. Please do this, so that we can continue to benefit from the extra twenty-five percent that the Government will give us.
Finally, thank you to BD, as always, for examining these accounts for us. She does this so willingly, and makes the process as simple as possible for me!
I hope that I have clarified these accounts as much as I can, but if anyone has a question, I will do my best to answer it. Once any questions have been answered, I propose that these accounts should be formally adopted.
HEREFORD MUSICAL THEATRE COMPANY
AUDITED ACCOUNTS 2021
2 HMTC ACCOUNTS 2021
2021
2020
INCOME
| Membership Subscriptions - Adult Company - Youth Group Patrons/Friends/VPs 50 Club NODA Long Service Awards Gift Aid Hall Hire Donations from Bar Bar Takings Donations (Unspecified) Gala Night - Donations - Raffle Government Grants - COVID 19 Bank Interest Sundries - Fundraising - Hire of Mics - Box Office for Starlight Company - Scrap Metal Sale Income from Shows and Concerts TOTAL EXPENDITURE Admin NODA Membership Insurance Bar Licence Website Management CIO Admin Stationery and Postage Photocopier Membership 50 Club Prizes NODA Long Service Awards Musical Director - Jenni Axtell Lockdown - Quiz Prizes Hall Installation of Fire Alarm System Refurbishment of Toilets Cleaning, Maintenance and General Running Costs Services - Electricity/Gas/Water - Phone Line/Broadband - Recycling Rental of Small Hall from Holy Trinity PCC Bar Stock Gala Night - Food and Drink - Hire of Tables and Glasses - Hall Decoration - Programmes - Royalties Sundries - Scenery Storage - Music Stands - Delivery of Dance Floor - Box Office for Starlight Company Expenditure for Shows (and concerts in 2019) TOTAL OVERALL BALANCE ASSETS B/F ASSETS C/F OVERALL BALANCE |
2,896.25 975.00 257.00 2,650.00 - 3,342.92 7,422.00 - 540.00 600.00 245.00 237.00 16,897.58 2.20 170.00 250.00 - 11.20 1,231.54 37,727.69 |
72.00 2,287.11 180.00 240.00 447.00 - - 1,360.00 (crd 2020 75.00 deb 2021 135.00) 76.00 5,400.00 - - - 2,852.05 (deb 2021 275.00) 3,941.22 463.49 103.20 100.00 532.68 764.08 220.00 185.11 (deb 2021 51.58) 55.00 13.77 (deb 2021 13.77) - - - - 1,903.10 (deb 2021 80.71) 21,195.81 16,531.88 105,337.24 121,869.12 16,531.88 (b/f 2020 190.00 crd 2021 546.00) (b/f 2020 42.71) |
2,737.50 1,065.00 297.00 2,500.00 139.00 - 3,043.00 744.07 - 50.00 - - 11,334.00 6.86 329.00 250.00 133.43 - 6,327.71 28,956.57 |
(crd 2020 50.00) 200.00 2,412.88 180.00 200.00 - - - 1,535.00 (deb 2020 125.00) 161.00 5,400.00 30.00 - 6,126.49 2,675.67 (b/f 2019 397.12) 4,497.32 447.90 42.25 100.00 - - - - - - 78.00 - 325.00 133.43 2,802.35 (b/f 2019 4,384.47) 27,347.29 1,609.28 103,727.96 105,337.24 1,609.28 (b/f 2019 1911.00 crd 2020 42.71) (b/f 2019 321.00 crd 2020 190.00) |
|---|---|---|---|---|
3 HMTC SHOW ACCOUNTS 2021
| 3HMTC SHOW ACCOUNTS 2021 | ||||
|---|---|---|---|---|
| INCOME Box Office Takings Donations Show Raffles, etc. TOTAL Less: Debitors 2020 Add: 2021 Creditors EXPENDITURE Licence/Royalties Script Hire Publicity TOTAL Less Creditors 2020 Add: Payments in Advance 2020 Add: 2021 Debtor |
2020 Christmas Countdown - 119.99 - 119.99 -42.71 - 77.28 - - - 0.00 - - - 0.00 |
2021 Jingle All the Way 915.65 60.60 178.01 1,154.26 - - 1,154.26 - - 88.80 88.80 - - 80.71 169.51 |
Matilda Calendar Girls - - - - - - 0.00 0.00 - - - - 0.00 0.00 495.00 1,033.59 160.00 - 45.00 - 700.00 1,033.59 - - - - - - 700.00 1,033.59 2022 |
TOTALS |
| Matilda - - - 0.00 - - 0.00 495.00 160.00 45.00 700.00 - - - 700.00 |
||||
| 1,274.25 | ||||
| -42.71 0.00 |
||||
| 1,231.54 | ||||
| 1,822.39 | ||||
| 0.00 0.00 80.71 |
||||
| 1,903.10 |
4 ASSETS
| FIXED ASSETS Land and Buildings New Ceiling Equipment Microphones Chairs Seats Trolley Tables Keyboard Till Sound System CURRENT ASSETS Cash in Hand Cash at Bank - Current Account - Instant Saver Account Debtors and Payments in Advance at 31/12 Creditors at 31/12 TOTAL ASSETS |
2021 52,833.00 6,452.87 1,808.54 3,327.25 200.00 4,953.00 108.00 1,380.00 729.73 54.99 1,090.50 72,937.88 30.00 48,911.30 - 27,012.33 - 21,898.97 546.00 -556.06 48,931.24 121,869.12 |
2020 52,833.00 6,452.87 1,808.54 3,327.25 200.00 4,953.00 108.00 1,380.00 729.73 54.99 1,090.50 72,937.88 30.00 32211.65 - 10,314.88 - 21,896.77 282.71 -125.00 32,399.36 105,337.24 |
|---|---|---|
5 OUTSTANDING DEBTORS AND CREDITORS 2021
DEBTORS
| DEBTORS | |
|---|---|
| PAID 05/01/2022 HALL HIRE PAID 13/01/2022 HALL HIRE PAID 31/01/2022 HALL HIRE PAID 22/03/2022 HALL HIRE CREDITORS PAID 04/01/2022 CLEANING DECEMBER PAID 12/01/2022 50 CLUB PRIZES DECEMBER PAID 13/01/2022 GALA NIGHT FOOD AND DRINK PAID 13/01/2022 JINGLE ALL THE WAY DECORATIONS PAID 18/03/2022 GALA NIGHT ROYALTIES PAID 18/03/2022 JINGLE ALL THE WAY ROYALTIES BALANCE |
36.00 160.00 200.00 150.00 |
| 150.00 | |
| 275.00 135.00 51.58 46.05 13.77 34.66 |
|
| 556.06 | |
| -406.06 |
RECONCILED DEBTORS AND CREDITORS 2020
| DEBTORS | ||||
|---|---|---|---|---|
| PAID | 11/01/2021 | HALL HIRE | 190.00 | |
| PAID | 12/01/2021 | DONATION FOR LOCKDOWN PRODUCTIONS | 35.59 | |
| PAID | 10/02/2021 | DONATION FOR LOCKDOWN PRODUCTIONS | 7.12 | |
| PAID | 02/03/2021 | 50 CLUB | SUBS (2020/21) | 50.00 |
| 282.71 | ||||
| CREDITORS | ||||
| PAID | 01/03/2021 | 50 CLUB | PRIZE (NOV. 2020) | 50.00 |
| 50.00 | ||||
| BALANCE | 232.71 | |||
| UNPAID | Ch. # 3734 | 50 CLUB | PRIZE | 75.00 |
| Unpresented after over 6 months, so cancelled. Shown as credit in Full Accounts. |
2021
2020
Appendix A: HMTC INCOME AND EXPENDITURE 2021
INCOME
| Membership Subscriptions - Adult Company - Youth Group Patrons/Friends/VPs 50 Club NODA Long Service Awards Hall Hire Donations from Bar Bar Takings Donations (General) Grants (COVID19) Gift Aid (2018-2020) Bank Interest Sundries - Fundraising - Hire of Mics - Scrap Metal Sale - Box Office for Starlight Company Gala Night - Donations - Raffle Income from Shows and Concerts TOTAL EXPENDITURE Admin NODA Membership Insurance Bar Licence Website Management CIO Admin Membership 50 Club Prizes NODA Long Service Awards Musical Director - Jenni Axtell Lockdown - Quiz Prizes Hall Refurbishment of Toilets Cleaning, Maintenance and General Running Costs Services - Electricity/Gas/Water - Phone Line/Broadband - Recycling Rental of Small Hall from Holy Trinity PCC Bar Stock Sundries - Scenery Storage - Delivery of Dance Floor - Box Office for Starlight Company Gala Night - Food and Drink - Hire of Tables and Glasses - Hall Decoration - Programmes Expenditure for Shows and Concerts TOTAL BALANCE |
2,896.25 975.00 257.00 2,650.00 - 7,066.00 - 540.00 600.00 16,897.58 3,342.92 2.20 170.00 250.00 11.20 - 245.00 237.00 1,274.25 37,414.40 |
72.00 2,287.11 180.00 240.00 447.00 1,300.00 76.00 5,400.00 - - 2,577.05 3,941.22 463.49 103.20 100.00 532.68 - - - 764.08 220.00 133.53 55.00 1,822.39 20,714.75 16,699.65 |
2,737.50 1,065.00 297.00 2,450.00 139.00 3,174.00 744.07 - 40.00 11,334.00 - 6.86 329.00 250.00 - 133.43 - - 8,196.00 30,895.86 |
200.00 2,412.88 180.00 200.00 - 1,400.00 161.00 5,400.00 30.00 6,126.49 3,072.79 4,497.32 447.90 42.25 100.00 - 78.00 325.00 133.43 - - - - 7,186.82 |
|---|---|---|---|---|
| 31,993.88 | ||||
| -1,098.02 |
Appendix B: HMTC INCOME AND EXPENDITURE 2021 - SHOWS
| INCOME Box Office Takings Donations Show Raffles, etc. TOTAL EXPENDITURE Licence/Royalties Script Hire Publicity TOTAL |
2020 Christmas Countdown - 119.99 - 119.99 - - - 0.00 |
2021 Jingle All the Way 915.65 60.60 178.01 1,154.26 - - 88.80 88.80 |
Matilda Calendar Girls - - - - - - 0.00 0.00 495.00 1,033.59 160.00 - 45.00 - 700.00 1,033.59 2022 |
TOTALS |
|---|---|---|---|---|
| Matilda - - - 0.00 495.00 160.00 45.00 700.00 |
||||
| 1,274.25 | ||||
| 1,822.39 |
Appendix C: HMTC SHOW TOTALS
| Appendix C:HMTC SHOW TOTALS | ||||||
|---|---|---|---|---|---|---|
| Imaginary Chicago (Cancelled) Virtually Viral INCOME Box Office Takings 2,047.04 - - Refund (Cancellation) - 2,081.57 - Donations - - 1,006.54 Programme Sales ) 259.00 - - Show Raffles, etc. ) - - Bar Takings 381.50 - - TOTAL 2,687.54 2,081.57 1,006.54 EXPENDITURE Licence/Royalties 900.00 1,275.60 - Scenery 25.33 - - Props 18.98 - - Costumes 55.47 - - Band 600.00 - - Script Hire - - - Sheet Music - 805.97 - Publicity 243.60 - - Hall Decoration - - - Bar Licence 21.00 - - TOTAL 1,864.38 2,081.57 0.00 PROFIT/LOSS - TOTAL 823.16 0.00 1,006.54 TOTAL PROFIT/LOSS - 2020 SHOWS TOTAL PROFIT/LOSS - 2021 SHOWS 2020 |
2020 | Christmas Countdown - - 629.34 - - - 629.34 - - - - - - - - - - 0.00 629.34 2,459.04 |
2021 Jingle All the Way 915.65 - 60.60 - 178.01 - 1,154.26 34.66 - - - - - - 88.80 46.05 - 169.51 984.75 984.75 |
Matilda Calendar Girls - - - - - - - - - - - - 0.00 0.00 - - 495.00 1,033.59 - - - - - - - - 160.00 - - - 45.00 - - - - 700.00 1,033.59 -700.00 -1,033.59 2022 |
TOTALS | |
| 7,559.25 | ||||||
| 5,849.05 | ||||||
| 1,710.20 | ||||||
1
HEREFORD MUSICAL THEATRE COMPANY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31ST DECEMBER, 2021
Report to the Trustees of Hereford Musical Theatre Company on the accounts for the year ended 31st December, 2021
Respective responsibilities of trustees and examiner
As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a 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 evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(i) which gives me reasonable cause to believe that in any material repect the requirements to keep accounting records in accordance with section 41 of the Act; have not been met; or
-
(ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Barbara Double Hargate BADouble Millway Sutton St. Nicholas Hereford Date: 19/03/2022