Paisley Musical & Operatic Society
Report of the Trustees and Financial Statements for the Year Ended 30 June 2025
Registered Charity No: SC 051476
Paisley Musical & Operatic Society Contents of the Financial Statements for the Year Ended 30 June 2025
| Page | |
|---|---|
| Report ofthe Trustees | 1to3 |
| IndependentExaminer'sReport | 4 |
| Statement ofFinancial Activities | 5 |
| Balance Sheet | 6 |
| NotestotheFinancialStatements | 7to10 |
Paisley Musical & Operatic Society
Trustees’ Report
Year ended 30 June 2025
The trustees present their annual report and financial statements of the charity for the year ended 30 June 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102.
Objectives and Activities
The objects and activities of PMOS are the advancement of the arts by:
(i) The Study and Production of Musical and/or Dramatic Works.
(ii) Providing opportunities through rehearsals and/or workshops to assist Members to develop their skills in the musical and dramatic arts.
(iii) Developing public appreciation, education and enjoyment of musical and dramatic arts. (iv) Raising funds which can be applied in furtherance of any charitable purpose.
Our main activity is to present at least one theatrical production each year. This involves several months of study and rehearsal to develop our members' skills to produce a high quality production for the enjoyment of our cast and members of the public who come to watch and enjoy the performances. New members are regularly gained from people who have seen our previous productions. During our productions, we also raise funds for another charity nominated by our members.
Achievements and Performance
One production was staged during the period of this report.
Our production of Guys and Dolls was staged in The King's Theatre, Glasgow from 5-8 March 2025 over 6 performances. This attracted an audience of 4125 people from various locations across the central belt of Scotland. Although the audience numbers were disappointing and unexpected, we received excellent feedback on the standard of performance and the enjoyment this had brought to those attending.
In line with our aim to encourage and develop talent and enjoyment of the arts, we recruited 13 new members for Guys and Dolls who all benefitted from the experience immensely.
Workshops were held to develop Members' skills and to give others the chance to experience our activities in a safe, non-judgemental environment.
Financial Review
Our income for the year was down significantly from the previous year, primarily due to the level of ticket sales for our production in the year. Despite research into the popularity of the recent professional production of Guys and Dolls in London, and undertaking a substantial marketing campaign, our ticket sales were very much lower than expected, resulting in a disappointing deficit. Ticket income less show costs, contributed towards a deficit for the year of £24,558. Normal operating costs were only slightly increased from last year.
Reserves Policy
It is the Trustees’ policy to endeavour to hold reserves at a level to cover all general management, running and anticipated production costs against expected ticket income. The Trustees are confident that the level of reserves will be sufficient to meet these requirements.
Our unrestricted funds at the end of the financial year represent around 90% of normal production costs. The Society also held £1,896 of restricted funds which have been provided for the purposes specified in note 13.
Structure, Governance and Management Governing Document
The Society is administered in accordance with its Constitution and is a Scottish Charitable Incorporated Organisation.
Recruitment and appointment of new Trustees
The office bearers and committee members of PMOS are the Charity Trustees. They are appointed annually by the full members of PMOS at the AGM. Each is selected to serve for a period of 3 years, on a rotational basis, and is eligible for re-election after their initial term of office is complete.
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Paisley Musical & Operatic Society Trustees’ Report
Year ended 30 June 2025
Reference and Administrative Details
Registered Charity number $C051476
Principal address
27 Sherwood Avenue Paisley PAI 3SJ
Trustees
Paisley Musical & Operatic Society operates under a constitution under which Office Bearers and Committee Members comprise the Trustees.
Our Trustees have a broad range of skills and experience to cover all required areas e.g. administration, finance, marketing, technical knowledge.
A full list of the Trustees is set out at the end of this report.
Independent Examiner Elizabeth G Gallacher Chartered Accountant 28 Birchwood Drive Paisley PA2 SNE
Bankers
Bank of Scotland The Cross Paisley PA1 1DB
Principal Office-bearers President Robin Cameron-Longden Vice President Holly Goodwin Secretary Pauline Thomson Treasurer Jillian Stewart
Page 2
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Paisley Musical & Operatic Society Trustees’ Report Year ended 30 June 2025
Trustees
Pauline Thomson Alyson Lamond Holly Goodwin Alastair McCall (from 9/11/25) Catherine Park Elizabeth Brown Robin Cameron-Longden Zoe Tennant Laura Shields-Wulff Ryan Wink (to 9/11/25) Jillian Stewart (to 25/1/26)
Approved by order of the Board of Trustees on 30th March 2026 and signed on its behalf by:
P Thomson - Trustee
Page 3
Independent Examiner’s Report to the Trustees of Paisley Musical & Operatic Society
Year ended 30 June 2025
I report on the accounts of the charity for the year ended 30 June 2025 which are set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
The charity’s 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 (as amended).
The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) 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 (as amended). 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 view given by the accounts.
Independent examiner’s statement
In the course of my examination, no matter has come to my attention
- | which gives me reasonable cause to believe that in any material respect the requirements:
. to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended), and : to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations (as amended) 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.
Elizabeth G Gallacher Chartered Accountant 28 Birchwood Drive Paisley PA2 SNE
Date: 30th March 2026
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Paisley Musical & Operatic Society
Statement of Financial Activities
Year ended 30 June 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Note|Funds|Funds|Total|Total|
|2025|2025|2025|2024|
|£|£|£|£|
|Income|and|endowments|from:|Note|
|Donations|and|legacies|2|8,377|0|8,377|9,355|
|Other|trading|activities|3|93,257|0|93,257|138,163|
|Investment|Income|4|0|19|19|22|
|Total|income|101,634|19|101,653|147,540|
|Expenditure|on:|
|Raising|funds|5|111,559|0|111,559|118,826|
|Charitable|activities|6|
|General|activities|14,652|0|14,652|12,472|
|Total|expenditure|126,211|0|126,211|131,298|
|Net|(expenditure)/income|(24,577)|19|(24,558)|16,242|
|Reconciliation|of|funds:|
|Total|funds|brought|forward|124,016|1,877|125,893|109,651|
|Total funds|carried forward|99,439|1,896|101,335|125,893|
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The notes form part of these financial statements
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Paisley Musical & Operatic Society Balance Sheet
At 30 June 2025
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2025|2025|2024|2024|
|Note|£|£|£|£|
|Fixed|Assets:|
|Tangible|assets|9|118|231|
|Current|Assets|
|Debtors|10|702|626|
|Cash|at bank|and|in hand|102,482|126,063|
|Total|Current|Assets|103,184|126,689|
|Liabilities|
|Creditors|falling|due|within|one|year|1|1,967|1,027|
|Net Current|Assets|101,217|125,662|
|Net|Assets|101,335|125,893|
|The funds|of the|charity:|13|
|Restricted|funds|- Training &|Education|Fund|1,896|1,877|
|Unrestricted|funds|- General|Fund|99,439|124,016|
|Total|charity funds|101,335|125,893|
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The accounts were approved by the trustees on 30th March 2026 and signed on their behalf by:
P Thomson - Trustee
R Cameron-Longden - Trustee
The notes form part of these financial statements
Page 6
Paisley Musical & Operatic Society Notes to the Financial Statements Year ended 30 June 2025
1 Accounting Policies
The principal accounting policies, which have been applied consistently in the current and preceding year in dealing with items which are considered material to the accounts, are set out below.
Basis of preparation
The financial statements of the charity 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 (FRS102) (effective 1 January 2015)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities accounts (Scotland) Regulations 2006 (as amended).
Fund accounting
Funds are classified as either restricted funds or unrestricted funds, defined as follows.
Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity.
Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees’ discretion to apply the fund.
Incoming resources
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, 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.
Equipment
- 25% straight line
Taxation
Paisley Musical & Operatic Society 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.
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Paisley Musical & Operatic Society
Notes to the Financial Statements
for the year ended 30 June 2025
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|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Funds|Funds|Total|
|2025|2025|2025|2024|
|2|Donations|and|Legacies|
|Membership &|Fees|4,680|0|4,680|6,005|
|Donations &|Raffle|267|0|267|3,350|
|Other|Income|3,430|0|3,430|0|
|8,377|0|8,377|9,355|
|3|Income from other|trading|activities|
|Ticket|Sales|92,737|0|92,737|136,080|
|Other Show|Income|520|0|520|2,083|
|93,257|0|93,257|138,163|
|4|Investment|income|
|Bank|interest|received|0|19|19|22|
|0|19|19|22|
|5|Raising Funds|
|Other|trading|activities|
|Show|Costs|111,559|0|111,559|118,826|
|6|Charitable|Activities|Costs|
|2025|2024|
|General|activities|-|14,652|12,472|
|7|Staff|costs and numbers|2025|2024|
|"The|average|number of employees|during|the year was|as|follows:|0|0|
|No employee|received|emoluments|in excess|of|£60,000|(2024:|nil)|
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8 Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees’ expenses
There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
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Paisley Musical & Operatic Society
Notes to the Financial Statements
for the year ended 30 June 2025
9 Tangible Fixed Assets
| Equipment | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Cost | ||||||||
| At 1 July 2024 | 1,637 | 1,637 | ||||||
| Additions | 0 | 0 | ||||||
| Disposals | 0 | 0 | ||||||
| At 30 June 2025 | 1,637 | 1,637 | ||||||
| Depreciation | ||||||||
| At 1 July 2024 | 1,406 | 1,406 | ||||||
| Charge foryear | 113 | 113 | ||||||
| Eliminatedondisposal | 0 | 0 | ||||||
| At30 June 2025 | 1,519 | 1,519 | ||||||
| NetBook Value | ||||||||
| At 30 June 2025 | 118 | 118 | ||||||
| At30 June 2024 | 231 | 231 | ||||||
| 10 | Debtors | |||||||
| = | 2025 | 2024 | ||||||
| £ | £ | |||||||
| Prepayments | 577 | 500 | ||||||
| Other debtors | - | “ | 125 | 126 | ||||
| 702 | 626 | |||||||
| 7 | ||||||||
| 11 | Creditors | |||||||
| a | 2025 | 2024 | ||||||
| - | £ | £ | ||||||
| Other creditors | : | 1,967 | 1,027 | |||||
| 1,967 | 1,027 |
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Paisley Musical & Operatic Society
Notes to the Financial Statements
for the year ended 30 June 2025
12 Analysis of Net Assets Among Funds
| Unrestricted | Restricted | 2025 | 2024 | |||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||||
| Fixed Assets | 118 | 0 | 118 | 231 | ||||
| Current Assets | 101,288 | 1,896 | 103,184 | 126,689 | ||||
| Current Liabilities | (1,967) | 0 | (1,967) | (1,027) | ||||
| Netassets at30June 2025 | 99,439 | 1,896 | 101,335 | 125,893 | ||||
| 13 | Movements inFunds | |||||||
| At 1July | Incoming | At30June | ||||||
| 2024 | Resources | 2025 | ||||||
| £ | £ | £ | ||||||
| Restrictedfunds | ||||||||
| Training&Education Fund | 1,877 | 19 | 1,896 | |||||
| Unrestricted funds | ||||||||
| GeneralFund | 124,016 | (24,577) | 99,439 | |||||
| Totalfunds | - | 125,893 | (24,558) | 101,335 | ||||
| Comparativesformovement offunds | ||||||||
| , | : | At 1July | Incoming | At30 June | ||||
| ee | 2023 | Resources | 2024 | |||||
| £ | £- | FE | ||||||
| Restricted funds | ||||||||
| Training&Education Fund | 1,855 | 22 | 1,877 | |||||
| Unrestrictedfunds | ||||||||
| GeneralFund | ; | 107,796 | 16,220 | 124,016 | ||||
| Total funds | ; | 109,651 | 16,242 | 125,893 |
Purposes of Restricted Funds
Training & Education Fund: This is a legacy set aside to help with training and education of Members, with a maximum spend of £200 per annum allowed.
14 Related Party Disclosures
There were no related party transactions for the year ended 30 June 2025.
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