Registered Charity Number 511436
STOURBRIDGE AMATEUR OPERATIC SOCIETY
Trustees’ Report and Financial Statements
for the Year Ended 31st December 2023
STOURBRIDGE AMATEUR OPERATIC SOCIETY
Trustees’ Report and Financial Statements
for the Year Ended 31st December 2023
CONTENTS
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|Page|
|Trustees’|Report|1|
|Independent|Examiner's Report|2|
|Statement of Financial|Activities|3|
|Balance|Sheet|4|
|Notes|to|the Accounts|5-8|
|Production|Account|9|
|(Not part of|the Statutory Accounts)|
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| | STOURBRIDGE AMATEUR OPERATIC SOCIETY
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TRUSTEES' REPORT
The Trustees have pleasure in presenting their report and independently examined financial statements for the year ended 31st December 2023. STATUS Stourbridge Amateur Operatic Society is a registered charity (No. 511436) governed by its constitution. Its address for correspondence is 125 Vicarage Road, Wollaston, Stourbridge, West Midlands DY8 4QZ.
OBJECTIVES OF THE SOCIETY The objectives of the society are to educate the public in the dramatic and operatic arts, to further the development of public appreciation and taste in the said arts; to assist and further such charitable institutions and charitable purposes as the Committee shall from time to time determine.
ORGANISATION STRUCTURE
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|The|Society|is|managed|by|a|committee|of members who|are|elected|at|the|Annual|General|Meeting.|During|the|year|that|
|committee|was|as follows:|
|Prof L|Davies|- Chairman|Mrs|E-L Clifton|
|Mrs V Simpson|- Secretary|Miss|B Hemmings (appointed|14th March,|2023)|
|Mr D Gregory|- Treasurer|MrJ Hunt|
|Mrs A Hough|- Vice-Chairman|MrsJ|Hunt|
|Miss K|Berrington|(appointed|14th March,|2023)|Mrs E|Miles (appointed|14th|March,|2023)|
|Mr|A|Chester|MrB|Shaw|(resigned 14th March, 2023)|
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No members of the committee received remuneration. Trustees’ expenses are detailed in Note 5 of the accounts.
REVIEW OF ACTIVITIES
The results for the year are set out on page 3. The Youth production of "Everybody's Talking About Jamie" was a huge success both financially and critically with 91% ticket sales and a NODA nomination for best youth musical in Region 8. Whilst the main production of “Made in Dagenham" fell short on ticket sales, with only 69% sold, it still had a very enthusiastic response from its audience, with standing ovations every night. It also received a NODA nomination for the best musical in Region 8 and we will find out in April whether we were successful, along with that for the Youth section. Fingers crossed! Thankfully, the loss of £3,396 on “Made In Dagenham” was covered by the surplus of £3,621 on “Everybody's Talking About Jamie". There was a £2,334 surplus on other activities, mainly generated by bank interest and Gift Aid receipts, resulting in an overall surplus for the year of £2,559, compared with a deficit of £9,707 for 2022. The society made total charitable donations of £600 in the year, split equally between Mary Stevens Hospice, West Midlands Air Ambulance and The Leukaemia Unit Appeal Fund (supporting the Georgina Unit, Russells Hall Hospital).
The committee has secured the rights for "Les Miserables - School Edition" for the Youth section in July and "West Side Story" for the main production in October 2024, which it feels will be both popular with members and the public. It will continue to closely scrutinise costs and ensure the necessary steps are taken to encourage the public to support its productions.
POLICY ON RESERVES The Committee has a policy of keeping reserves at a level sufficient to cover the net annual cost of productions. Should reserves fall below this level the committee explores other fundraising possibilities to cover the shortfall.
GOVERNANCE AND INTERNAL CONTROL
The Committee actively reviews the major strategic, business and operational risks, which the charity faces and confirms that it has established systems to mitigate the significant risks
COMMITTEE'S RESPONSIBILITIES
The constitution of the Society requires the committee to ensure the keeping of a true account of the Society’s income and expenditure and to submit accounts for an independent examination at least once a year. The committee is responsible for ensuring that proper minute books, accounts and other relevant records are kept.
Approved by the committee of management and signed on behalf of the committee:
V SIMPSON Secretary 27th February, 2024
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| | STOURBRIDGE AMATEUR OPERATIC SOCIETY ] INDEPENDENT EXAMINER'S REPORT
Independent Examiner’s report to the members of Stourbridge Amateur Operatic Society (Registered Charity Number 511436) on the accounts for the year ended 31st December 2023 set out on pages3 to 8.
Respective responsibilities of the trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act;
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- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act); and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with 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 the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the Charities Act;
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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signed...
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AArtaelonFee A
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M. Taylor, FCCA 122 Bridgnorth Road Wollaston STOURBRIDGE DY8 3PB
pate... 28/2124...
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, STOURBRIDGE AMATEUR OPERATIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31st December 2023
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|Unrestricted|
|Funds|2023|2022|
|£|£|£|
|INCOMING|RESOURCES|3|
|Incoming Resources from Generating Funds|
|Voluntary Income|2,740|2,740|1,794|
|Activities for generating funds|1,762|1,762|2,061|
|Investment Income|1,324|1,324|632|
|Incoming|Resources from Charitable Activities|
|Production Account|64,082|64,082|59,222|
|Total Incoming resources|69,908|69,908|63,709|
|RESOURCES EXPENDED|4|
|Costs of Generating|Funds|
|Costs of generating voluntary income|17|17|-|
|Fundraising Trading Costs|207|207|923|
|Charitable|Activities|
|Production Account|63,857|63,857|69,592|
|Donations|600|600|600|
|Governance|Costs|2,668|2,668|2,301|
|Total Resources expended|67,349|67,349|73,416|
|Net movement in funds|2,559|2,559|(9,707)|
|Total Funds brought forward|49,905|49,905|59,612|
|Total Funds carried forward|52,464|52,464|49,905|
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STOURBRIDGE AMATEUR OPERATIC SOCIETY
BALANCE SHEET
As at 31st December 2023
:
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2023 2022
£ £ £ £
FIXED ASSETS
Tangible Assets 6 3,361 3,946
CURRENT ASSETS
Debtors rj 2,469 3,718
Cash at Bank and in hand 47,233 42,442
49,702 46,160
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR 8 599 201
NET CURRENT ASSETS 49,103 45,959
NET ASSETS 52,464 49,905
FUNDS OF THE CHARITY
Unrestricted Funds 9 52,464 49,905
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These financial statements were approved by the Committee of the Society on 27th February, 2024
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Signed on behalf of all the trustees
\ —
—Oitfp ~ DGREGORY
Chairman Treasurer
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A
STOURBRIDGE AMATEUR OPERATIC SOCIETY
for the Year Ended 31st December 2023
NOTES TO THE ACCOUNTS
] 1. BASIS OF PREPARATION These accounts have been prepared on the basis of historic cost in accordance with: ) - Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005); ) - Accounting Standards; and - The Charities Act 2. ACCOUNTING POLICIES Recognition of incoming resources These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to resources; - the trustees are virtually certain they will receive the resources; and - the monetary value can be measured with sufficient reliability.
Tax Reclaims on donations and gifts Incoming Resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Investment Income This is included in the accounts when receivable.
Liability Recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out the resources. Tangible Fixed Assets for use by charity These are capitalized if they can be used for more than one year and are depreciated to their estimated residual values over the period of their estimated economic lives. The rate used is 10% ona straight line basis.
- ANALYSIS OF INCOMING RESOURCES
| ANALYSIS OF INCOMINGINCOMING RESOURCES | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| VoluntaryIncome | |||
| Subscriptions Tax reclaimed underGiftAidScheme |
1,590 1,131 |
1,425 363 |
|
| Donations | 19 | 6 | |
| 2,740 | 1,794 | ||
| =o | —_—— | ||
| ActivitiesforGeneratingFunds | |||
| HireofPropsetc. SundryIncome |
755 1,007 |
765 1,296 |
|
| 1,762 | 2,061 | ||
| oO | ;ee | ||
| Investment Income | |||
| Bank interest | 1,324 | 632 | |
| 1,324 | 632 | ||
| Production Account | |||
| TicketSales | 57,361 | 54,037 | |
| ProgrammeSales ProgrammeAdverts ProgrammeSponsors Sale ofLibsandScores |
1,341 1,220 - 85 |
975 1,130 100 50 |
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| SundryIncome Rehearsal Fee |
355 3,720 |
30 2,900 |
|
| 64,082 | 59,222 | ||
| ———————————————— | ————ee— | ||
| =e |
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STOURBRIDGE AMATEUR OPERATIC SOCIETY
NOTES TO THE ACCOUNTS
for the Year Ended 31st December 2023
4. ANALYSIS OF RESOURCES EXPENDED
j
)
| 4. | ANALYSIS OF RESOURCES EXPENDED | ||
|---|---|---|---|
| 2023 | 2022 | ||
| 2 | £ | ||
| CostsofGeneratingVoluntary Income | |||
| Trustee Expenses | 17 | - | |
| FundraisingTradingCosts | |||
| Sundry Expenses | 207 | 923 | |
| eae | i SS |
||
| 207 | 923 | ||
| S—————_ | See | ||
| Production Account | |||
| Royalties | 10,392 | 11,334 | |
| HireofRooms | 14,645 | 11,654 | |
| Costumesandproperties | 3,309 | 6,006 | |
| Scenery, lighting,sound etc. | 16,151 | 19,055 | |
| Advertising, printingetc. | 1,427 | 2,082 | |
| Orchestra and music | 9,070 | 10,466 | |
| Printing programmes | 765 | 782 | |
| Honoraria | 7,880 | 7,960 | |
| Ticketsand promotion | 140 | 30 | |
| Sundry Expenses | 78 | 223 | |
| 63,857 | 69,592 | ||
| Ss———————: | _————— | ||
| Governance Costs | |||
| NODA Medals | - | 22 | |
| NODA subscriptions& meetings | 230 | 163 | |
| Insurance | 1,698 | 1,342 | |
| Sundry Expenses | 75 | - | |
| BankCharges | 80 | 97 | |
| Depreciation | 585 | 677 | |
| 2,668 | 2,301 | ||
| SS | ———— | ||
| 5. | TRUSTEE EXPENSES | ||
| Numberof Trusteeswhowere paid expenses | 1 | = | |
| oe | —<—————————F | ||
| Total amountpaid | 17 | - | |
| ——o | ———————— |
Nature of Expenses
Trustees are reimbursed for postage, stationery and telephone costs incurred on behalf of the Society.
ef =
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| STOURBRIDGE AMATEUR | NOTES TO THE ACCOUNTS
STOURBRIDGE AMATEUR OPERATIC SOCIETY
:
for the Year Ended 31st December 2023
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6. TANGIBLE FIXED ASSETS Fixtures &
Fittings
£
Cost as at 1st January 2023 10,076
Additions ss
Disposals -
Cost as at 31st December 2023 10,076
Depreciation as at ist January 2023 6,130
Charge for the Year 585
Disposals =
Depreciation as at 31st December 2023 6,715
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NBV at 31st December 2023 3,361
NBV at 31st December 2022 3,946
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7. DEBTORS 2023 2022
£ £
Prepayments & Accrued Income 2,469 3,718
2,469 3,718
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8. CREDITORS: AMOUNTS FALLING DUE 2023 2022
WITHIN ONE YEAR £ £
Accrued Expenses 599 201
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STOURBRIDGE AMATEUR OPERATIC SOCIETY
:
NOTES TO THE ACCOUNTS
for the Year Ended 31st December 2023
9. UNRESTRICTED FUNDS
| UNRESTRICTED FUNDS | General | Designated | TOTAL | |
|---|---|---|---|---|
| Fund | Fund | |||
| £ | £ | £ | ||
| Tangible Fixed Assets | 3,361 | - | 3,361 | |
| CurrentAssets | 48,695 | 1,007 | 49,702 | |
| Current Liabilities | (599) | . | (599) | |
| 51,457 | 1,007 | 52,464 | ||
| iJan | Incoming | Resources | 31 Dec | |
| 2023 | Resources | Expended | 2023 | |
| £ | £ | £ | £ | |
| General Fund | 48,898 | 69,908 | (67,349) | 51,457 |
| Designated Fund | 1,007 | - | - | 1,007 |
| 49,905 | 69,908 | (67,349) | 52,464 |
The designated fund represents amounts set aside in respect of educational bursaries available.
ais