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2025-12-31-accounts

GREENOCK LIGHT OPERA CLUB

TRUSTEES’ REPORT & ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2025

REGISTERED CHARITY NO. SC028080

page 1 GREENOCK LIGHT OPERA CLUB (ALSO KNOWN AS GLOC)

DIRECTORY

EXECUTIVE COMMITTEE Katie Howlett (President)
Rebecca Keane (Secretary)
Kirsty Campbell (Treasurer)
Jaqueline Haire (Social Media)
Emma Stephens (Club Rep)
Holly Callander (Business Manager)
Ilaria Moretti (Club Rep)
INDEPENDENT EXAMINER Craig Lindsay
Welsh Walker Limited
179A Dalrymple Street
Greenock
PA15 1BX
BANKERS Bank of Scotland
64/66 West Blackhall Street
Greenock
PA15 1XG
REGISTERED OFFICE 99 Eldon Street
Greenock
PA16 7RJ
REGISTERED CHARITY
NUMBER SC028080 
page 2

GREENOCK LIGHT OPERA CLUB

TRUSTEES’ ANNUAL REPORT

for the year ended 31 December 2025

The Trustees present their report along with the financial statements for the
year ended 31 December 2025.

Reference and administration information

Charity name Greenock Light Opera Club
Known name Greenock Light Opera Club
Charity Registration No. SC028080

Trustees

The following trustees have held office since 1 January 2025:

Calum McVittie (President – resigned 29/01/2025)
Katie Howlett (President – elected 29/01/2025)
Rebecca Keane (Secretary)
Kirsty Campbell (Treasurer)
Jaqueline Haire
Aileen McQuillan (resigned – 29/01/2025)
Emma Stephens
Ilaria Moretti
Holly Callander (appointed – 29/01/2025)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Greenock Light Opera Club is governed by a constitution which defines the Objects,
Powers, Procedures and Management of the Society and is an Unincorporated Body.

Recruitment and Appointment of Trustees

The Trustees are appointed by the members at the Annual General Meeting each year in
terms of the Constitution and are selected by the members for their furtherance of
the Society’s aims.

OBJECTIVES AND ACTIVITIES

The objects of the Club are to advance the education of the public in the art of
Light Opera by the presentation of public performances and other related activities.

The Main Activities are:

page 3

GREENOCK LIGHT OPERA CLUB

TRUSTEE’S ANNUAL REPORT for the year ended 31 December 2025

Achievement and Performance

2025 has been a year of continued financial growth and stability for Greenock Light
Opera Club. Over the past three years, the club’s financial position has improved
significantly. We ended 2023 with £17,765 in the bank, £23,872 at the end of 2024, and
£31,936 at the end of 2025. With raffle and programme sales from Charlie and the
Chocolate Factory paid into the bank at the start of January,

the current bank balance stands at £34,058 (not included in the 2025 accounts) — almost
double where we were two years ago.

This improvement is the result of considerable fundraising efforts by both the committee
and the wider club, alongside careful budgeting to ensure our productions remain
financially viable.

We are grateful to The Co-op for their donation of £250, and to Holly’s work – Promedics
Orthopaedics for their donation of £300, which covered the costs of programmes and
advertising banners.

Looking at the last three productions:

Fundraising played a major role in the success of our 2025 production; however, even
without fundraising income, the show still generated a profit of over £4,000.

The Main Theatre capacity is 2,410 seats, and we sold 1,780 tickets. By 20 October —
two weeks before opening night — only 895 tickets had been sold, which caused
considerable concern. We rely on the support of all club members, not just performers,
to help sell tickets for our productions, and this will be increasingly important
moving forward. If the production had sold out, I estimate a potential profit of
approximately £25,000.

While profits will naturally fluctuate depending on the chosen production, We Will Rock
You is a popular show, and with a combined effort from all members, this level of profit
could be a realistic goal for our 2026 production.

A key factor in this year’s success was advance budgeting. I would like to thank Lynsey
Mitchell, who worked extremely hard to deliver a high-quality production while remaining
under budget. Based on the financial performance of the last three shows, it is my
recommendation that future productions are staged in the Main Theatre, as performing
in the Studio Theatre does not make financial sense if ticket sales and budgeting are
managed effectively.

page 4

GREENOCK LIGHT OPERA CLUB

TRUSTEE’S ANNUAL REPORT for the year ended 31 December 2025

Cost Management and Operations

This year, as in 2024, the committee made the decision not to pay the stage crew or
stage manager, as these roles were historically voluntary and supported by friends and
family of club members. We recognise the time-intensive nature of this work, often
continuing into the early hours following the final performance. An offer was made to
cover the cost of dinner for stage crew, but this was not.
taken up.

Moving forward, consideration should be given to how we secure reliable technical
support during show week while recognising the significant time commitment involved in
these roles. Although the club has not been in a position to pay stage crew and stage
management fees, it will be important to explore sustainable options that support
volunteers without creating significant additional costs.

It is important to recognise that the club must pay theatre hire and show-running costs
regardless of audience numbers. Once performances are scheduled, these costs are fixed
whether the theatre is full or not.

Typical running costs per performance are approximately:

With tickets priced at £23.50, we need to sell approximately 77 tickets per performance
to break even. This demonstrates that if there is consideration about reducing the
number of performances, it is almost always financially better to perform more shows
rather than fewer, even if every

performance cannot be sold out, as the fixed production costs have already been
incurred. Although there were mixed reactions to the choice of production, including
children in the cast generated £2,400 in additional subscription income. Future
committees should carefully consider subscription pricing to ensure production costs
are adequately covered. Fundraising must also continue in earnest to offset rising
production expenses.

It was originally the intention for the 2025 production to introduce a single ticket
price for all adults, with no concessions. However, the Beacon applied a concession
ticket price, meaning this approach was not implemented as planned. Moving forward, my
recommendation is that the club adopts one adult ticket price. Based on the 2025 pricing
structure, this would be £23.50 for all adult tickets, with no senior citizen
concessions, which would have generated approximately £918 in additional income.
Simplifying ticket pricing will help maximise income and make financial planning more
predictable.

We also saved £554 this year by giving up our storage facility lease.

page 5

GREENOCK LIGHT OPERA CLUB

TRUSTEE’S ANNUAL REPORT
for the year ended 31 December 2025

Grants and Additional Income

In 2024, we secured a grant of £810 from Inverclyde Council to support increasing
membership and promoting access to the Arts among 16–18-year-olds. This funding was
secured to sponsor three youth memberships (£120) and provide reduced-price tickets
for local school pupils. Due to the content of Sweeney Todd and timing constraints with
Charlie and the Chocolate Factory, this funding has not yet been used, and an extension
has been agreed until August 2026. The future committee should plan for how this funding
can be utilised for We Will Rock You.

I also applied for a grant from Arnold Clark, but unfortunately this application was
unsuccessful.

Grant applications are time-consuming and I would again encourage any members who have
time, or access to workplace volunteering days, to support the club by researching and
completing grant

applications. Future funding opportunities may require more creative approaches than
simply supporting production costs.

We also raised £202 through Easyfundraising this year. This initiative allows members
to generate funds for the club through everyday online shopping and requires very
little effort to participate.

Currently, 68 people are registered to support GLOC through Easyfundraising, but only
a small number regularly generate contributions. Members are encouraged to sign up and
use the platform where possible, as this provides valuable additional income for the
club at no cost to you.

Thank you to Mary Goodwin for investigating Gift Aid on subscriptions. A form has now
been

created, which all members must complete to allow the club to claim back tax on
subscriptions (up to four years) from UK taxpayers. Future committees should ensure
this form is completed by all new members.

Community Support

We remain extremely grateful to St John’s Church for providing rehearsal facilities.
As a result of this year’s improved financial position, the club will make a £750
donation, covering the last two years of support.

Future Considerations

The financial recovery and growth of the past three years demonstrate what can be
achieved

through strong fundraising, careful budgeting, and the commitment of our members. The
future sustainability of the club depends on continued support from members both on
and off the stage.

Fundraising will remain essential to offset rising production costs, and future
committees should

explore the relaunch of our Patrons Programme alongside the development of advertising
packages for local businesses, building on the support we received this year from
donors and sponsors. These initiatives could provide valuable and sustainable
additional income streams for the club.

  page 6

GREENOCK LIGHT OPERA CLUB

TRUSTEE’S ANNUAL REPORT

for the year ended 31 December 2025

Treasurer’s Closing Remarks

Regrettably, due to recent changes in my family circumstances, I will be resigning
from my role as Treasurer with effect from the 2026 AGM and temporarily taking a step
back from the club. I have served on the committee in this role for the past three
years. Although I have not achieved everything I hoped to, I believe the club is now
in a stronger financial position, and I wish the next committee every success going
forward.

Reserves Policy

It is the policy of the charity to retain free reserves equal to 5 months expenditure,
not including show specific costs. Currently the charity is operating within this
reserves policy.

Risk Management

The Trustees have examined the major strategic, business and operational risks, which
the charity faces and confirm that systems have been established so that the necessary
steps can be taken to lessen these risks.

Trustees responsibilities in relation to the financial statements

Law applicable to charities in Scotland requires the Trustees to prepare financial
statements for each financial year, which give a true and fair view of the state of
the charity as at the balance sheet date and of its incoming resources and application
of resources, including income and expenditure for the financial year.  In preparing
those financial statements, the Trustees should follow best practice and:

The Trustees are responsible for keeping proper accounting records which disclose
with reasonable accuracy at any time the financial position of the charity and which
ensure that the financial statements comply with the Charities and Trustee Investment
(Scotland) Regulations 2006.  They are also responsible for safeguarding the assets
of the charity and for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf on 25[th] February 2026.

Kirsty Campbell

Treasurer and Trustee

page 7

GREENOCK LIGHT OPERA CLUB

STATEMENT OF RECEIPTS AND PAYMENTS for the year ended 31 December 2025

Note
RECEIPTS
Receipts from Generated Funds
Voluntary Receipts
2
Receipts from Charitable Activities
3
Grants received in the year
TOTAL RECEIPTS
PAYMENTS
Charitable Activities
4
TOTAL PAYMENTS
SURPLUS FOR YEAR		 Unrestricted
Funds
2025

£
12,694
38,692
-
51,386
43,321
43,321
8,065		 Total
2025
£
12,694
38,692
-
51,386
43,321
43,321
8,065		 Total
2024
£
11,348
11,268
810
23,426
17,319
17,319
6,107 
All funds received and expenses in 2025 and 2024 were unrestricted in nature.

 page 8

GREENOCK LIGHT OPERA CLUB

STATEMENT OF BALANCES as at 31 December 2025

Cash Funds
Cash and Bank Balances at start of year
Surplus for the year
Cash and bank balances at end of year
Liabilities
Independent Examiners Fee
IDC Grant received for 2025 show		 Unrestricted
Funds
2025
£
23,872
8,065
31,967
180
-
180		 Total
2025
£
23,872
8,065
31,967
180
-
180		 Total
2024
£
17,765
6,107
23,872
156
810
966 
Approved by the trustees and signed on their behalf on 25 February 2026.

………………………………………………………

………………………………………………………

………………………………………………………

Kirsty Campbell
Treasurer and Trustee

Katie Howlett
President and Trustee

Rebecca Keane

Secretary and Trustee

 page 9

GREENOCK LIGHT OPERA CLUB

NOTES TO THE ACCOUNTS for the year ended 31 December 2025

1. ACCOUNTING POLICIES

Fund Accounting

Unrestricted funds comprise those funds, which the trustees are free to use in
accordance with the charitable objectives of the charity.

Taxation

Greenock Light Opera Club is recognised as a charity for the purposes of applicable
taxation legislation and is therefore not subject to taxation on its charitable
activities.  The charity is not registered for VAT and resources expended therefore
include irrecoverable input VAT.
2. Voluntary Income
Subscriptions
Fundraising
Programme Income
Other Income		 Unrestricted
Funds
2025
£
5,410
6,000
125
1,159
12,694		 Total
2025
£
5,410
6,000
125
1,159
12,694		 Total
2024
£
4,253
4,373
100
2,622
11,348 
  page 10

GREENOCK LIGHT OPERA CLUB

NOTES TO THE ACCOUNTS (Cont’d)

for the year ended 31 December 2025

3. Incoming Resources from Charitable
Activities
Show Income
4. Analysis of Resources Expended
Charitable Activities
Front of House Costs
Theatre Hire
Orchestra
Production Operators and Sound
Ticket Sales Commission
Insurance and Subscriptions
Scenery, Lighting and Transport
Costumes, Wardrobe and Props
Sundry Expenses
Independent Examiner’s Fee
Royalties and Score Hire
TOTAL		 Unrestricted
Funds
2025
£
38,692
38,692
1,739
7,871
5,050
6,270
4,643
1,094
4,078
2,736
1,059
156
8,625
43,321		 Total
2025
£
38,692
38,692
1,739
7,871
5,050
6,270
4,643
1,094
4,078
2,736
1,059
156
8,625
43,321		 Total
2024
£
11,268
11,268
573
2,174
3,060
3,023
1,352
671
1,087
-
3,167
156
2,056
17,319		 
All expenses in current year and prior year are unrestricted.

5. Trustee Remuneration and Related Party Transactions

No remuneration was paid to the trustees during the year.

page 11

                       WELSH WALKER

179A Dalrymple Street
Greenock
PA15 1BX
Tel. 01475 722233

        Chartered Accountants

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GREENOCK LIGHT OPERA CLUB FOR THE YEAR ENDED 31 DECEMBER 2025

I report on the Accounts of the charity for the year ended 31 December 2025 which are
set out on pages 2 to 10.

Respective responsibilities of trustees and examiner

The charity trustees are responsible for the preparation of the Accounts in accordance
with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the
Charities Accounts (Scotland) Regulations 2006.

The charity trustees consider that the audit requirement of Regulation 10(1)(d) of
the Accounts Regulations does not apply.  It is my responsibility to examine the
Accounts as required under section 44(1)(c) of the Act and to state whether particular
matters have come to my attention.

Basis of independent examiner’s statement

My examination is carried out in accordance with Regulation 11 of the Charities
Accounts (Scotland) Regulations 2006.  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 seeks explanations from the 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 Accounts.

Independent examiner’s statement

In the course of my examination, no matter has come to my attention:

Craig Lindsay
Chartered Accountant
Welsh Walker Limited
Chartered Accountants
179a Dalrymple Street
GREENOCK
PA15 1BX

   Date:25[th] February 2026