Wells Operatic Society Limited - Charities report

REGISTERED COMPANY NUMBER: 01377655 (England and Wales)

REGISTERED CHARITY NUMBER: 276308

Wells Operatic Society Limited

Company Limited by Guarantee

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

11

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. 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 primary purpose of the charity is to promote, maintain, improve and advance education by the production of educational plays, and the encouragement of the arts.

Public benefit

The trustees are mindful of the Charity Commission guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Our four main productions for the year were the two plays, Equally Divided and Little Women, a musical, Carousel and a pantomime, Sleeping Beauty. These were all extremely successful with almost 100% ticket sales.

We also staged a much smaller event in the rehearsal room with performances of two of Alan Bennett’s Talking Heads.

Subscriptions and bar sales have decreased but, together with donations and a considerable increase in theatre hire, they continue to make valuable contributions to the running costs of the theatre. Show sponsorship has also helped towards the ever-increasing costs of staging successful productions.

We have continued to undertake the necessary safety improvements that we began last year. A new fire alarm system has been installed and considerable work has been undertaken in the auditorium to lights and rigging. The shed in the car park has been re-roofed and will be used to store flammable items. Improvements have also been undertaken to improve our current heating system.

The tree in the car park has become increasingly problematic and we have been granted permission to fell it after soil tests have taken place.

The Trustees were notified that a bequest had been made to the Charity in the will of Mrs M Rice. The monies were received on 19th March 2026 and have been included in these accounts.

Overall the charity reported a net surplus of £24,335 (2024 - surplus £4,608).

FINANCIAL REVIEW

Financial position

The trustees consider that the unrestricted reserves of £278,866 (2024 - £254,531) are adequate to meet the future requirements of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The trustees review the needs of the charity to ensure that new trustees are recruited with the necessary skills.

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.

They have reviewed the Safe Guarding policy of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01377655 (England and Wales)

Registered Charity number

276308

Registered office

Little Theatre

Chamberlain St

Wells

Somerset

BA5 2PS

Trustees

R E Bass

T E Creswick (Chair)

K Edmonds (Chair) (resigned 28/3/2025)

J R Hartley Scammell

N J Hope

P Perrin

M J Scammell

C S Tatar

S Marshall

E Hardy

C Munckton

V Orman

J Holwill (resigned 28/3/2025)

A Watts

A Checchi (appointed 28/3/2025)

A Hutton (appointed 28/3/2025)

Independent Examiner

Barry Davidson - FCA, FCCA

Webb & Co Ltd

Accountants and Business Advisers

One New Street

Wells

Somerset

BA5 2LA

Approved by order of the board of trustees on 28 March 2026 and signed on its behalf by:

P Perrin - Trustee

Independent examiner's report to the trustees of Wells Operatic Society Limited Company Limited by Guarantee ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Barry Davidson - FCA, FCCA

Webb & Co Ltd

Accountants and Business Advisers

One New Street

Wells

Somerset

BA5 2LA

7 April 2026

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

25,806

-

25,806

13,846

Charitable activities

Box Office

61,323

-

61,323

59,163

Theatre hire

5,000

-

5,000

2,285

Other trading activities

3

8,241

-

8,241

9,705

Investment income

4

2,353

-

2,353

2,665

Total

102,723

-

102,723

87,664

EXPENDITURE ON

Raising funds

8,607

-

8,607

9,417

Charitable activities

Box Office

23,523

-

23,523

40,702

Theatre costs

9,221

-

9,221

14,229

Support costs

12,260

-

12,260

10,674

General costs

24,777

-

24,777

8,034

Total

78,388

-

78,388

83,056

NET INCOME

24,335

-

24,335

4,608

RECONCILIATION OF FUNDS

Total funds brought forward

254,531

-

254,531

249,923

TOTAL FUNDS CARRIED FORWARD

278,866

-

278,866

254,531

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

8

150,950

-

150,950

142,443

CURRENT ASSETS

Stocks

9

1,807

-

1,807

1,645

Debtors

10

23,890

-

23,890

5,701

Cash at bank and in hand

110,590

-

110,590

114,845

136,287

-

136,287

122,191

CREDITORS

Amounts falling due within one year

11

(8,371

)

-

(8,371

)

(10,103

)

NET CURRENT ASSETS

127,916

-

127,916

112,088

TOTAL ASSETS LESS CURRENT
LIABILITIES

278,866

-

278,866

254,531

NET ASSETS

278,866

-

278,866

254,531

FUNDS

12

Unrestricted funds

278,866

254,531

TOTAL FUNDS

278,866

254,531

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 28 March 2026 and were signed on its behalf by:

P Perrin - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared in sterling, rounded to the nearest £, which is the functional currency of the entity

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

-

2% on cost

Plant and machinery

-

33.3% on cost and 10% 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 corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

3.	OTHER TRADING ACTIVITIES

2025

2024

£

Bar takings

8,241

9,705

4.	INVESTMENT INCOME

2025

2024

£

Deposit account interest

2,353

2,665

5.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

Depreciation - owned assets

6,614

5,537

Surplus on disposal of fixed assets

(29

)

-

6.	INDEPENDENT EXAMINER'S REMUNERATION

2025

2024

£

Independent examiners fee

2,974

2,272

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

8.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

COST

At 1 January 2025

136,135

101,847

237,982

Additions

-

15,192

Disposals

-

(400

)

(400

)

At 31 December 2025

136,135

116,639

252,774

DEPRECIATION

At 1 January 2025

22,349

73,190

95,539

Charge for year

2,126

4,488

6,614

Eliminated on disposal

-

(329

)

(329

)

At 31 December 2025

24,475

77,349

101,824

NET BOOK VALUE

At 31 December 2025

111,660

39,290

150,950

At 31 December 2024

113,786

28,657

142,443

9.

STOCKS

2025

2024

£

Stocks

1,807

1,645

10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

120

-

Other debtors

17,439

-

VAT

133

106

Prepayments and accrued income

6,198

5,595

23,890

5,701

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

3,125

6,752

Accruals and deferred income

5,246

3,351

8,371

10,103

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1/1/25

in funds

31/12/25

£

Unrestricted funds

General fund

254,531

24,335

278,866

TOTAL FUNDS

254,531

24,335

278,866

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

102,723

(78,388

)

24,335

TOTAL FUNDS

102,723

(78,388

)

24,335

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1/1/24

in funds

funds

31/12/24

£

Unrestricted funds

General fund

249,923

3,263

1,345

254,531

Restricted funds

Refurbishment fund

-

1,345

(1,345

)

-

TOTAL FUNDS

249,923

4,608

-

254,531

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

86,319

(83,056

)

3,263

Restricted funds

Refurbishment fund

1,345

-

1,345

TOTAL FUNDS

87,664

(83,056

)

4,608

The unrestricted fund is to be used to meet the charity objectives, as the trustees see fit, in accordance with the Memorandum and Articles of Association and the trust deed.

13.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.