The Trustees present their report and financial statements for the year ended 30 November 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “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).
The charity's objects are to operate, and seek to attract funding for, a short season of opera normally in the summer of each year for the education of the public. A production of La Traviata took place in July 2015, of Don Giovanni in July 2016, of Un Ballo in Maschera in 2017, and of Il Trovatore in 2018. There are no policies adopted in furtherance of these objects and there has been no change in these during the year.
Public Benefit
The Trustees have referred to and discussed the implications of the provisions of Section 17 of the Charities Act 2011, which state that all charities must demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission.
Winslow Hall Opera receives donations from members of the public, with the aim of promoting the arts in general and of opera in particular. During the year, the charity generated incoming resources of £405 (2020 : £200), and had resources expended of £1,648 (2020 : £12,447).
Reserves Policy
As explained further in the section below "plans for the future", the trustees intend to wind up the charity in due course.
Risk Management
The Trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The charity is a private limited company by guarantee without share capital, and makes use of 'Limited' exemption.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees are planning to dissolve the company, as they are not able to perform the operas any longer.
The Trustees report was approved by the Board of Trustees.
The statement of financial activities includes all gains and losses recognised in the year.
Winslow Hall Opera Development Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Winslow Hall, Winslow, Buckingham, Buckinghamshire, MK18 3HL, United Kingdom.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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 from 1 January 2019).
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
We would draw your attention to the trustees' plan to wind up the charity in due course. Further information can be found in the Trustees' Report. For this reason the accounts have been prepared on a basis other than going concern.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Income from charitable activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and VAT.
Resources expended are recognised in the period to which they relate.
Direct charitable expenditure comprises all the expenditure relating to the activities carried out to achieve the charitable objectives.
Support costs represent costs that cannot be directly attributed to charitable activities but are necessarily incurred in running the charity.
Governance costs include costs payable to the independent examiner and other costs incurred in relation to statutory and constitutional requirements.
The trustees do not believe there to be judgements or estimates that would be considered critical to the financial statements.
Theatrical production costs
Theatrical production costs
Direct expenditure
Other costs
None of the Trustees (or any persons connected with them) received any reimbursed expenses, remuneration or benefits from the charity during the year.
At the year end, creditors included a loan of £40,000 (2020: £40,000) received from O J Gilmour, one of the Trustees. There were no payments made during the year. The outstanding amount is repayable on demand and attracts no interest.
Post year end, the loan of £40,000 has been waived off by the Trustee.
During the year, the charity received donations of £405 (2020: nil) from C Gilmour, one of the Trustees.