REGISTERED CHARITY NUMBER: 513219
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
HALIFAX AMATEUR OPERATIC SOCIETY
Sheards Chartered Accountants Vernon House 40 New North Road Huddersfield West Yorkshire HD1 5LS
HALIFAX AMATEUR OPERATIC SOCIETY
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2020
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Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
Detailed Statement of Financial Activities
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HALIFAX AMATEUR OPERATIC SOCIETY
REPORT OF THE TRUSTEES
for the year ended 31 December 2020
a
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the charity are to educate the public in the dramatic and operatic arts and to further the development of public appreciation and taste in the said arts, to assist and further such charitable institution and charitable purposes as the Trustees shall from time to time determine.
Significant activities
The objectives are achieved by producing shows each year and maintaining a junior section.
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives we have set.
Volunteers
Volunteers play a key role in producing the shows and the administration of the society.
ACHIEVEMENT AND PERFORMANCE
Review of the year
This year has been a very unusual and difficult year for the society. Following a very successful 2019, we were looking forward to a busy year with 2 large scale productions along with our usual Junior show. Sadly, all of our plans for productions had to be cancelled due to the Covid-19 pandemic. We continued to keep in touch with our members and held a number of online fundraisers. We have begun the redevelopment of the downstairs part of the rooms, this is something we have been able to undertake in a Covid secure way and has provided a focus for our members and volunteers. We have also spent time updating all our policies and procedures.
We have taken out a new financing loan to enable the renovations. The 100 club has been an essential source of regular income and to keep the society stable during the pandemic. It has been a major achievement in surviving the Covid-19 pandemic and coming out the other side in a good financial position.
FINANCIAL REVIEW
Reserves policy
The reserves of the charity at the period end totalled £98,936 (2019 : £84,851).
The charity is still not in a position to accumulate unrestricted reserves, but the trustees anticipate that once the new mortgage has been repaid in 2035, we will be able to increase the unrestricted reserves to provide greater financial security for the charity.
FUTURE PLANS
Our plans for 2021 will largely be based on the Government Covid restrictions. It is unlikely that we will be able to produce any large-scale shows. We have no show plans for early 2021, however we are currently planning two smaller scale productions and our junior show for the last quarter of the year. We plan to continue, finish and build on the major renovations to the downstairs space in the Rooms to increase our number of productions and to support the wider community.
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HALIFAX AMATEUR OPERATIC SOCIETY
REPORT OF THE TRUSTEES for the year ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is constituted by a Trust Deed, and its objects are to educate the public in the dramatic and operatic arts and to further the development of public appreciation and taste in the said arts, to assist and further such charitable institution and charitable purposes as the Trustees shall from time to time determine.
There were no changes to the constitution during the period to 31 December 2020.
Recruitment and appointment of new trustees
New trustees are to be members of the society and are elected and approved by management. Appointment of new trustees is governed by the Trust Deed of the charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
$13219
Principal address
35 Greenton Avenue Scholes Cleckheaton West Yorkshire BD19 6DT
Trustees G Cowgill
Mrs N Smith
MP Gilroy (appointed 6.10.20)
The trustees hold the title deeds to the property as custodians for the charity.
Independent Examiner Kevin Winterburn Sheards Chartered Accountants Vernon House 40 New North Road Huddersfield West Yorkshire HD1 5LS
Bankers
Barclays Bank Plc PO Box 14 39-47 Commercial Street Halifax West Yorkshire HX1 1BG
Treasurer
H Illingsworth
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HALIFAX AMATEUR OPERATIC SOCIETY
REPORT OF THE TRUSTEES for the year ended 31 December 2020
Approved by order of the board oftrustees on EAth eOtember, 202 | and signed on its behalf by:
G Cowgill - Trustee yj
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HALIFAX AMATEUR OPERATIC SOCIETY
Independent examiner's report to the trustees of Halifax Amateur Operatic Society
I report to the charity trustees on my examination of the accounts of Halifax Amateur Operatic Society (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust 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 and 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 giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do 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.
Kevin Winterburn
Sheards
Vernon House
40 New North Road
Huddersfield HD1 5LS
Date: uf OCRBYL Zoe /
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HALIFAX AMATEUR OPERATIC SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2020
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||||||
|---|---|---|---|---|
|a|
|2020|2019|
|Unrestricted|Total|
|funds|funds|
|Notes|£|£|
|INCOME AND|ENDOWMENTS FROM|
|Donations|and|legacies|5,480|6,181|
|Other trading activities|2|6,309|86,919|
|Investment|income|3|4379|8,635|
|Other income|14,136|-|
|Total|30,304|101,735|
|EXPENDITURE|ON|
|Raising funds|14,179|102,283|
|Other|2,040|1,080|
|Total|16,219|103,363|
|NET INCOME/(EXPENDITURE)|14,085|(1,628)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|84,851|86,479|
|TOTAL FUNDS CARRIED FORWARD|98,936|84,851|
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The notes form part of these financial statements
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HALIFAX AMATEUR OPERATIC SOCIETY
BALANCE SHEET
31 December 2020
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||||||||||
|---|---|---|---|---|---|---|---|---|
|eee|
|2020|2019|
|Unrestricted|Total|
|Notes|funds£|funds£|
|FIXED|ASSETS|
|Tangible|assets|6|104,277|101,312|
|CURRENT|ASSETS|
|Stocks|7|-|300|
|Debtors|8|3,968|6,048|
|Cash|at bank|and|in|hand|34,551|13,163|
|38,519|19,511|
|CREDITORS|
|Amounts|falling due|within|one|year|9|(5,185)|(13,832)|
|NET CURRENT ASSETS|33,334|5,679|
|TOTAL|ASSETS|LESS CURRENT|
|LIABILITIES|137.611|106,991|
|CREDITORS|
|Amounts|falling|due|after more|than one year|10|(38,675|)|(22,140)|
|NET ASSETS|98,936|84,851|
|FUNDS|13|
|Unrestricted|funds:|
|General|fund|88,436|74,351|
|Revaluation|reserve|10,500|10,500|
|98,936|84,851|
|TOTAL FUNDS|98,936|84,851|
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The financial statements were approved by the Board of Trustees and authorised for issue on Fie sothepllutnn.. 22.2)... and were signed on its behalf by:
N Smith - Trustee
G Cowgill - Trustee
The notes form part of these financial statements
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2020
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1. ACCOUNTING POLICIES
Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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 (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided Improvements to property - not provided Fixtures and fittings - 10% on reducing balance Computer equipment - 20% on cost
Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 December 2020
| 2. | OTHERTRADING ACTIVITIES | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Fundraising | 4,727 | 5,992 | |
| Production income | 1,861 | 76,785 | |
| Bar profit | (279) | 4,142 | |
| 6,309 | 86,919 | ||
| 3. | INVESTMENT INCOME | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Rents received | 4,375 | 8,625 | |
| Bank interest | 4 | 10 | |
| 4,379 | 8,635 |
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees’ expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019,
| 5. | COMPARATIVESFORTHE STATEMENT OF FINANCIALACTIVITIES | COMPARATIVESFORTHE STATEMENT OF FINANCIALACTIVITIES |
|---|---|---|
| Unrestricted | ||
| funds | ||
| £ | ||
| INCOME ANDENDOWMENTSFROM | ||
| Donations and legacies | 6,181 | |
| Othertrading activities | 86,919 | |
| Investment income | 8,635 | |
| Total | 101,735 | |
| EXPENDITURE ON | ||
| Raising funds | 102,283 | |
| Other | 1,080 | |
| Total | 103,363 | |
| NET INCOME((EXPENDITURE) | (1,628) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 86,479 | |
| a _, |
_, |
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 December 2020
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
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Unrestricted
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| funds | ||||||
|---|---|---|---|---|---|---|
| £ | ||||||
| TOTALFUNDSCARRIED FORWARD | 84,851 | |||||
| TANGIBLE FIXEDASSETS | ||||||
| Improvements | Fixtures | |||||
| Freehold property |
to property |
and fittings |
Computer equipment |
Totals | ||
| £ | £ | £ | £ | £ | ||
| COST | ||||||
| At 1 January 2020 | 60,000 | 41,553 | 7,855 | 415 | 109,823 | |
| Additions | - | 3,078 | - | - | 3,078 | |
| At31 December 2020 | 60,000 | 44,631 | 7,855 | 415 | 112,901 | |
| DEPRECIATION | ||||||
| At 1 January 2020 | - | 1,364 | 6,732 | 415 | 8,511 | |
| Charge foryear | - | - | 113 | - | 113 | |
| At 31 December2020 | - | 1,364 | 6,845 | 415 | 8,624 | |
| NET BOOKVALUE | ||||||
| At 31 December2020 | 60,000 | 43,267 | 1,010 | - | 104,277 | |
| At31December2019 | 60,000 | 40,189 | 1,123 | - | 101,312 |
TOTAL FUNDS CARRIED FORWARD
Freehold property was valued on an open market basis by Sanderson Weatherall Chartered Surveyors on 1 February 2015.
The trustees are not aware of any material changes in the valuation that is currently shown in the accounts.
The carrying value of freehold property at cost would have been £49,500.
- STOCKS
2020 2019 £ £ Stock - 300
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 December 2020
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHINONE YEAR | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Fundraising | 1,000 | 4,898 | |
| Prepayments | 2,968 | 1,150 | |
| 3,968 | 6,048 | ||
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Bank loans and overdrafts (see note 11) | 2,285 | 5,004 | |
| Othercreditors | 2,900 | 8,828 | |
| 5,185 | 13,832 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Bank loans (see note 11) | 38,675 | 22,140 | |
| 11. | LOANS | ||
| An analysisofthe maturity ofloans is given below: | |||
| 2020 | 2019 | ||
| £ | £ | ||
| Amounts falling due withinone yearondemand: | |||
| Mortgage | 2,285 | 5,004 | |
| Members loan | 2,000 | 2,000 | |
| 4,285 | 7,004 | ||
| Amounts falling between one and two years: | |||
| Mortgage - 1-2 years | 2,188 | 5,004 | |
| Amounts fallingdue between two and five years: | |||
| Mortgage - 2-5 years | 7,050 | 15,011 | |
| Amounts fallingdue in more than five years: | |||
| Repayable by instalments: | |||
| Mortgage-over5years | 29,437 | 2,125 |
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued
for the year ended 31 December 2020
- SECURED DEBTS
The following secured debts are included within creditors:
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|2020|2019|
|£|£|
|Bank|loans|40,960|27,144|
|The|bank|loan|is|secured|against|the|property.|
|13.|MOVEMENT|IN|FUNDS|
|Net|
|movement|At|
|At|1.1.20|in|funds|31.12.20|
|£|£|£|
|Unrestricted|funds|
|General|fund|74,351|14,085|88,436|
|Revaluation|reserve|10,500|-|10,500|
|84,851|14,085|98,936|
|TOTAL FUNDS|84,851|14,085|98,936|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|30,304|(16,219)|14,085|
|TOTAL|FUNDS|30,304|(16,219)|14,085|
|Comparatives|for|movement|in|funds|
|Net|
|movement|At|
|At|1.1.19|in|funds|31.12.19|
|£|£|£|
|Unrestricted|funds|
|General|fund|75,979|(1,628)|74,351|
|Revaluation|reserve|10,500|-|10,500|
|86,479|(1,628)|84,851|
|TOTAL FUNDS|86,479|(1,628)|84,851|
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HALIFAX AMATEUR OPERATIC SOCIETY
NOTES TO THE FINANCIAL STATEMENTS- continued for the year ended 31 December 2020
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
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|||||||
|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|101,735|(103,363|)|(1,628)|
|TOTAL FUNDS|101,735|(103,363|)|(1,628)|
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A current year 12 months and prior year 12 months combined position is as follows:
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||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.1.19|in|funds|31.12.20|
|£|£|£|
|Unrestricted|funds|
|General|fund|75,979|12,457|88,436|
|Revaluation|reserve|10,500|-|10,500|
|86,479|12,457|98,936|
|TOTAL|FUNDS|86,479|12,457|98,936|
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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
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||||||
|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|132,039|(119,582)|12,457|
|TOTAL FUNDS|132,039|(119,582)|12,457|
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NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2020
HALIFAX AMATEUR OPERATIC SOCIETY
14, RELATED PARTY DISCLOSURES
Loans made to the charity by members at 31 December 2020 were £2,000 (2019 : £2,000).
Page 13
HALIFAX AMATEUR OPERATIC SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| z | £ | |
| INCOME ANDENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,579 | 2,653 |
| Gift aid | 1,000 | 1,703 |
| Membership subscriptions | 1,901 | 1,825 |
| 5,480 | 6,181 | |
| Other trading activities | ||
| Fundraising | 4,727 | 5,992 |
| Production income | 1,861 | 76,785 |
| Bar profit | (279) | 4,142 |
| 6,309 | 86,919 | |
| Investment income | ||
| Rents received | 4,375 | 8,625 |
| Bank interest | 4 | 10 |
| 4,379 | 8,635 | |
| Other income | ||
| Miscellaneous | 14,136 | - |
| Total incoming resources | 30,304 | 101,735 |
| EXPENDITURE | ||
| Other trading activities | ||
| Production costs | - | 36,160 |
| Production costs - wardrobe and props | 412 | 11,155 |
| Production costs - sound | - | 11,119 |
| Production costs - royalties andvenue | 1,034 | 23,261 |
| Production costs -advertising and printing | - | 4,751 |
| 100 club | 880 | 1,190 |
| Rates and water | 664 | 627 |
| Insurance | 2,005 | 2,201 |
| Lightand heat | 2,452 | 4,383 |
| Telephone | 554 | 444 |
| Maintenance and cleaning | 1,228 | 1,688 |
| Administration expenses | 351 | 659 |
| Rent | 3,147 | 2,593 |
| Depreciation offixtures and fittings | 112 | 125 |
| Depreciation ofcomputerequipment | - | 62 |
| Bankcharges | 75 | 100 |
| Carriedforward | 12,914 | 100,518 |
This page does not form part of the statutory financial statements
Page 14
HALIFAX AMATEUR OPERATIC SOCIETY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2020
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||||||
|---|---|---|---|---|
|nonenSr|nN|ny|
|2020|2019|
|£|£|
|Other|trading|activities|
|Brought|forward|12,914|100,518|
|Bank|loan|interest|959|1,228|
|Card|machine|costs|306|537|
|14,179|102,283|
|Support|costs|
|Governance|costs|
|Independent examination|fees|900|900|
|Professional|fees|1,140|180|
|2,040|1,080|
|Total|resources expended|16,219|103,363|
|Net income/(expenditure)|14,085|(1,628 )|
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This page does not form part of the statutory financial statements
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