The Godalming Operatic Society
Report of the Trustees and Financial Statements
for the Year Ended 31 March 2023 for The Godalming Operatic Society
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |
|---|---|
| Charity Information | 1 |
| Trustees' Report | 2-3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7-8 |
| Show Income and Expenditure | 9 |
| Summer Project Income and Expenditure | 10 |
| General Income and Expenditure | 11 |
| Social Committee Account | 12 |
The Godalming Operatic Society
Trustees and Advisors
for the year ended 31st March 2023
| PRESIDENT: | M Hartnall | |
|---|---|---|
| TRUSTEES: | S Wilson | - Chairman |
| M Bright | - Hon Secretary | |
| A Plummer | - Hon Treasurer | |
| K Bare | - Hon Business Manager | |
| C Howard | ||
| S Lavender | ||
| J O'Regan | ||
| J Parkinson | ||
| S Peacock | ||
| L Scanlon | (Resigned 20/06/21) | |
| C Choi | (Resigned 20/06/21) | |
| REGISTERED CHARITY NO: | 802888 | |
| INDEPENDENT EXAMINER: | A J Bennewith | |
| A J Bennewith & Co | ||
| 3 Wey Court | ||
| Mary Road | ||
| Guildford | ||
| Surrey | ||
| GU1 4QU | ||
| BANKERS: | Lloyds TSB Bank plc | |
| 49, High Street | ||
| Godalming | ||
| Surrey | ||
| GU7 1AT | ||
| PRINCIPAL OFFICE: | Cherrytree Cottage | |
| Woodhouse Lane | ||
| Holmbury St Mary | ||
| Dorking | ||
| RH5 6NN |
Page 1
The Godalming Operatic Society
Trustees' Report
for the year ended 31st March 2023
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 2015).
Reference and administrative information
The charity is registered with the Charity Commission under charity number 802888. The trustees, executive officers, address of the charity and professional advisers are as listed on page 1.
Structure Governance and Management
Godalming Operatic Society was formed in 1925 and by a Deed dated 15 May 1989, was constituted as a registered charity. Its members are comprised of those who have paid the annual subscription or who have been elected honorary members at a General Meeting. All trustees are members themselves and form the General Committee. The General Committee have absolute discretion to reject an application for membership, or to exclude an existing member.
Trustee meetings and conduct
The chairman is in charge of the day to day running of the society. Decisions on day to day matters are proposed by the chairman and voted on by the trustees at trustee meetings but certain key decisions are decided by members vote at the annual general meeting or an extraordinary general meeting. The trustees consider that their combined experience is sufficient to allow them to properly conduct the charity’s affairs.
Appointment and recruitment of new Trustees
All trustees including new trustees are nominated and subsequently voted into office each year at the Annual General Meeting by the members. New trustees are taught their responsibilities at regularly held trustees meetings and receive a copy of the previous year’s annual report and accounts.
Objects and Activities
The charitable 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 and in particular (but without prejudice to the generality of the foregoing) to promote public interest in and knowledge of the works of W S Gilbert and Arthur Sullivan".
In furtherance of the Society’s objects and for the public benefit the Society presents a main show each year, normally at the end of February, featuring one of the works of Gilbert & Sullivan. Ticket prices are kept at a level sufficient to cover costs and concessions are offered to senior citizens, children and wheelchair users.
The Trustees believe that it is important to perform the less well known G&S operas as well as the more popular ones. Thus the aim is to make a surplus on the more popular shows to cover a likely deficit on the less popular ones.
In addition to the main Winter show, the Society normally presents one or more performances on a smaller scale in the Summer months. Sometimes these are free to the Public or are performed at venues such as old people's homes.
Our members volunteer their services as performers for the public benefit without payment. Occasionally it is necessary to employ an outside professional to fulfil a specific role.
The trustees have had due regard to the public benefit guidance issued by the Charity Commission in deciding what activities to undertake.
Page 2
The Godalming Operatic Society
Trustees' Report for the Year Ended 31st March 2023
Achievements and Performance
This financial year has seen a return to normality after the Covid pandemic which severely impacted the previous two years. Our Summer production, A Regular Royal Celebration , was held in June 2022 to celebrate the late Queen's Platinum Jubilee and was judged a great success by members and audience alike, although it made a small defecit.
In September, the Society restarted rehearsals for The Pirates of Penzance, which had been postponed from February 2022 because of rising levels of Covid infections. The production took place in February 2023 attracting good audience numbers and made a surplus £5,429.
During the year, the Society was fortunate to receive a substantial donation of £50,000 from a local charitable trust, which will greatly increast its financial security for the future.
Financial review
The Society had a net surplus of £10,651 from normal activities during the year ended 31 March 2023, plus the extraordinary donation of £50,000, giving a total surplus of £60,651 for the year. As a result of the annual surplus, year-end reserves stood at £122,705.
Reserves policy
The Society has a policy of maintaining reserves at a level sufficient to cover expenditure on the following February show. Expenditure on a show can be upwards of £45,000 and the Trustees aim for ticket sales and related income on average to exceed expenditure, covering deficits on historically less popular shows with surpluses on more popular ones. The Trustees also aim to minimise costs and to optimally promote shows so as to maximise the surplus/minimise the deficit on each show. Reserves are monitored throughout the year by the Treasurer through the maintenance of bank records and the preparation of annual accounts prepared on an accruals basis. From time to time the members agree to repeat the February show in a festival later in the year. When this happens the reserves are reviewed to ensure that they are sufficient to cover festival costs and the cost of the subsequent February show.
M Bright Secretary
Date
Page 3
The Godalming Operatic Society
Independent Examiner's Report to the Trustees of The Godalming Operatic Society
I report to the charity trustees on my examination of the accounts of The Godalming Operatic Society (the Trust) for the year ended 31 March 2023.
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 Direct 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
-
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA AJ Bennewith & Co 3 Wey Court Mary Road Guildford Surrey GU1 4QU
Date: .............................................
Page 4
The Godalming Operatic Society
Statement of Financial Activities for the Year Ended 31 March 2023
| Notes INCOMING RESOURCES Incoming resources from generated funds - Activities for generating funds 3 - Investment income 3 Incoming resources from charitable activities 2 Extraordinary donation 2 TOTAL INCOMING RESOURCES RESOURCES EXPENDED - Costs of activities for generating funds 5 -Charitable activities 4 -Other 6 TOTAL RESOURCES EXPENDED NET MOVEMENT IN FUNDS 8 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
2023 2022 £ £ 3,022 248 1,054 395 59,699 7,828 50,000 0 113,775 8,471 603 264 49,989 7,719 2,532 2,634 53,124 10,617 60,651 (2,146) 62,054 64,200 122,705 62,054 Unrestricted funds |
2023 2022 £ £ 3,022 248 1,054 395 59,699 7,828 50,000 0 113,775 8,471 603 264 49,989 7,719 2,532 2,634 53,124 10,617 60,651 (2,146) 62,054 64,200 122,705 62,054 Unrestricted funds |
|---|---|---|
| 8,471 | ||
| 264 7,719 2,634 |
||
| 10,617 | ||
| (2,146) | ||
| 64,200 | ||
| 62,054 |
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
Page 5
The Godalming Operatic Society
Balance Sheet as at 31 March 2023
| Notes CURRENT ASSETS Stocks Ochestral scores (bound) Stamps held Sundry debtors and prepayments Short term investment Cash at bank: Current account total £20,343 Current account (General) Current account (Social Committee ringfenced) Savings account CREDITORS:Amount due within one year Creditors and accruals NET CURRENT ASSETS NET ASSETS UNRESTRICTED FUNDS General Fund Total Unrestricted Funds |
£ £ £ £ 2,400 2,400 693 469 2,767 2,047 95,899 39,840 18,162 15,525 2,181 1,868 1,035 1,033 123,137 63,182 432 1,128 122,705 62,054 122,705 62,054 122,705 62,054 122,705 62,054 2023 2022 Unrestricted Funds |
£ £ £ £ 2,400 2,400 693 469 2,767 2,047 95,899 39,840 18,162 15,525 2,181 1,868 1,035 1,033 123,137 63,182 432 1,128 122,705 62,054 122,705 62,054 122,705 62,054 122,705 62,054 2023 2022 Unrestricted Funds |
|---|---|---|
| 62,054 | ||
| 62,054 | ||
| 62,054 |
These accounts were approved by the Trustees
S Wilson
M Bright
A Plummer
Date
Page 6
The Godalming Operatic Society
Notes to the Financial Statements for the Year Ended 31st March 2023
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 2015)', 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.
a) Accounting convention
The financial statements are prepared on an accruals basis.
b) Incoming resources
Income from productions is included in the period in which the relevant show takes place; investment income is included as receivable; donations and legacies are included as received, subscription income is included in the Statement of Financial Activities in the period to which it relates. Tax credits receivable in respect of Gift-aid donations are included with their respective incoming resource.
c ) Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis; inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Costs associated with the production of shows are included under charitable activities. Other costs comprise those costs incurred in the running of the charity itself as an organisation.
| 2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Annual show Income Summer production income Members annual subscriptions Tax recoverable Donations Extraordinary donation 3. ACTIVITIES FOR GENERATING FUNDS Social Committee Interval raffles Investment income 4. CHARITABLE ACTIVITIES Show expenditure Summer production expenditure |
2023 £ 47,006 5,557 1,660 1,472 4,004 50,000 109,699 2023 £ 916 2,106 1,054 4,076 2023 £ 43,175 6,814 49,989 |
2022 £ 0 471 1,485 1,192 4,680 0 |
|---|---|---|
| 7,828 | ||
| 2022 £ 248 0 395 |
||
| 643 | ||
| 2022 £ 7,056 663 |
||
| 7,719 |
Page 7
The Godalming Operatic Society
Notes to the Financial Statements for the Year Ended 31 March 2023
| 5. COST OF ACTIVITIES FOR GENERATING FUNDS Social Committee 6. OTHER Insurance Subscriptions Stationery & comms Independent Examiner Bank charges Publicity Gifts & gratuities Sundries |
2023 £ 603 603 2023 £ 1,009 102 835 480 19 70 0 17 2,532 |
2022 £ 264 |
|---|---|---|
| 264 | ||
| 2022 £ 981 230 780 480 57 20 61 25 |
||
| 2,634 |
7. TRUSTEES REMUNERATION AND EXPENSES
None of the Trustees received any remuneration in the year. Expenses totalling £2,650 (2022: £2,527) were reimbursed to six (2022: six) of the trustees for sundry expenses during the year.
| 8. NET MOVEMENT IN FUNDS Net surplus/(deficit) from annual shows Net surplus/(deficit) from summer productions Net surplus/(deficit) on general activities Net surplus on extraordinary donation Net surplus/(deficit) on Social Committee Brought forward funds Carried forward funds |
2023 2022 £ £ 5,429 (7,056) (749) (192) 5,658 5,118 50,000 0 313 (16) 60,651 (2,146) 62,054 64,200 122,705 62,054 |
|---|---|
Page 8
The Godalming Operatic Society
Income and Expenditure from Annual Shows for the Year Ended 31st March 2023
| INCOME Ticket sales Show subscriptions Programme sales Programme advertising DVD sales Interval raffles EXPENDITURE Costumes and wardrobe Scenery and props Lighting, sound and video projection Hire of halls Stage Director Musical Director Accompanist Orchestra Publicity Programme printing Communications Ticket commission DVD purchases Music stand hire Bank charges Piano hire and tuning Gifts and gratuities Orchestral score Performance fee Catering Sundries SURPLUS / (DEFICIT) |
Pirates 2023 £ 42,409 1,435 1,833 620 709 1,598 48,604 2,763 2,002 960 12,327 1,650 2,500 2,135 13,075 852 1,082 13 1,936 693 355 56 75 257 0 138 272 34 43,175 5,429 |
Covid 2022 £ 0 0 0 0 0 0 |
|---|---|---|
| 0 | ||
| 350 945 0 2,306 1,000 825 1,140 0 412 0 0 0 0 0 0 0 0 78 0 0 0 |
||
| 7,056 | ||
| (7,056) |
N.B. Because of the Covid pandemic, the Annual Show in February 2022 was not able to take place although considerable expenditure was incurred.
This page does not form part of the statutory financial statements
Page 9
The Godalming Operatic Society
Income and Expenditure from Summer Productions for the Year Ended 31st March 2023
| INCOME Ticket sales Show Subs DVD sales Raffle Donations EXPENDITURE Orchestra Hire of Halls Scenery & Props Costumes & Wardrobe Musical Director Performers fees Accompanist Score Hire Catering Bank Charges Lighting Publicity Ticket commission Sundries SURPLUS / (DEFICIT) |
2023 £ 4,667 580 60 508 250 6,065 2,400 1,464 180 74 550 0 960 277 27 47 504 215 84 32 6,814 (749) |
2022 £ 471 0 0 0 0 |
|---|---|---|
| 471 | ||
| 0 266 0 0 0 250 100 0 0 0 0 0 0 47 |
||
| 663 | ||
| (192) |
This page does not form part of the statutory financial statements
Page 10
The Godalming Operatic Society
General Income and Expenditure Account for the Year Ended 31st March 2023
| INCOME Members annual subscriptions Patrons annual subscriptions Donations Extraordinary donation Interest received Tax recoverable EXPENDITURE Gifts and gratuities Insurance Subscriptions Stationery & comms Publicity Bank charges Independent Examiner Sundries SURPLUS / (DEFICIT) |
2023 £ 1,660 3,382 622 50,000 1,054 1,472 58,190 0 1,009 102 835 70 19 480 17 2,532 55,658 |
2022 £ 1,485 3,495 1,185 0 395 1,192 |
|---|---|---|
| 7,752 | ||
| 61 981 230 780 20 57 480 25 |
||
| 2,634 | ||
| 5,118 |
This page does not form part of the statutory financial statements
Page 11
The Godalming Operatic Society
Social Committee Account for the Year Ended 31st March 2023
| INCOME Event income Social subscriptions EXPENDITURE Venue hire Accompanists Bank Charges Catering Gifts & gratuities Sundry expenditure SURPLUS / (DEFICIT) |
2023 £ 576 340 916 90 75 7 296 30 105 603 313 |
2022 £ 248 0 |
|---|---|---|
| 248 | ||
| 110 0 0 131 0 23 |
||
| 264 | ||
| (16) |
This page does not form part of the statutory financial statements
Page 12