REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Opera Omnibus |
(A Company Limited by Guarantee) |
Trading as |
Opera South |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
Opera Omnibus |
(A Company Limited by Guarantee) |
Trading as |
Opera South |
Opera Omnibus |
Trading as Opera South |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Statement of Financial Position | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 12 |
Opera Omnibus |
Trading as Opera South |
Reference and Administrative Details |
for the Year Ended 30 June 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | Mulberry & Co |
Chartered Certified Accountants |
& Chartered Tax Advisers |
C/O Mulberry & Co |
Eastgate House |
Dogflud Way |
Farnham |
Surrey |
GU9 7UD |
Opera Omnibus (Registered number: 03243724) |
Trading as Opera South |
Report of the Trustees |
for the Year Ended 30 June 2023 |
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 30 June 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 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity is established to bring high quality opera of a professional standard to local audiences at affordable |
prices. |
The combination of high quality opera with reasonable ticket prices is insufficient to cover production costs. |
Some of the difference is made up from membership subscriptions and fund-raising events and the generosity of Patrons and the Betty Whitbread Trust. |
Significant Activities |
The principal activity of the company in the year under review was that of an operatic society. |
Following the success of the August 2021 open-air performances of "Rita" it was decided to mount a "Double bill" of open-air performances (at the same locations) in July 2022. |
The operas performed were Bastien & Bastienne by Mozart, and An Incomplete Education by Chabrier. |
Production was as ever led by James Hurley (Director) and Mark Austin (Musical Director). The productions were well supported and the weather was kind! |
However financially Opera South found it difficult to perform any further works during 2022-23. A review of the current position was undertaken, and a number of Trustee changes were also agreed during the year. |
Mark Austin has been appointed Chairman to succeed Anthony Ramsden who has stepped down, having steered the Company for over 15 years. |
Mark and the new Trustees are now planning the Company activities for 2023-24. |
Volunteers |
In addition to the directors the following also served in other capacities during the year: |
Isabel Morgan | General Manager |
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 & directors |
The Company Articles of Association provides for a minimum of 3 directors and where there is a requirement for new directors these would be identified and appointed by the board. |
A new director would receive a copy of the previous year's annual report and accounts and a copy of the Charity commission leaflet 'The Essential Trustee: What You Need to Know'. |
Opera Omnibus (Registered number: 03243724) |
Trading as Opera South |
Report of the Trustees |
for the Year Ended 30 June 2023 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Opera Omnibus |
Independent examiner's report to the trustees of Opera Omnibus ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023. |
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. |
Mark Mulberry |
Mulberry & Co |
Chartered Certified Accountants |
& Chartered Tax Advisers |
C/O Mulberry & Co |
Eastgate House |
Dogflud Way |
Farnham |
Surrey |
GU9 7UD |
20 November 2023 |
Opera Omnibus |
Trading as Opera South |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 3 |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 27,608 |
Opera Omnibus (Registered number: 03243724) |
Trading as Opera South |
Statement of Financial Position |
30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds: |
General fund | 19,928 | 27,608 |
TOTAL FUNDS | 27,608 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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. |
Opera Omnibus (Registered number: 03243724) |
Trading as Opera South |
Statement of Financial Position - continued |
30 June 2023 |
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 |
Opera Omnibus |
Trading as Opera South |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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. |
Incoming resources from charitable activities represents ticket sales for operas, concerts, lectures and other events. Income is deferred where the event takes place after the year end. |
Voluntary income is receivable from annual subscriptions, income from patrons and donations. |
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. |
Support costs have been included as part of total production costs. |
Governance costs |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fee and costs linked to the strategic management of the charity. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. |
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are those funds which are only available for use for the purposes specified by the donor. |
Reserves policy |
The directors have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on productions and events and receiving resources through admission charges and grants that provide funding. |
No commitment to present any opera or recital is entered into without reserves being adequate to cover all associated costs, regardless of any expected revenue from the event. |
Opera Omnibus |
Trading as Opera South |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | INCOME FROM CHARITABLE ACTIVITIES |
30.6.23 | 30.6.22 |
Activity | £ | £ |
Rita | Production & Fundraising | - | 15,243 |
Recital | Production & Fundraising | - | 1,096 |
Troy | Production & Fundraising | - | 723 |
Double bill | Production & Fundraising | 4,654 | - |
Grants | Production & Fundraising | 5,000 | - |
Grants received, included in the above, are as follows: |
30.6.23 | 30.6.22 |
£ | £ |
County Council Grant | 5,000 | - |
3. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 4) | Totals |
£ | £ | £ |
Production & Fundraising | 18,500 | 1,613 | 20,113 |
4. | SUPPORT COSTS |
Governance |
Management | Other | costs | Totals |
£ | £ | £ | £ |
Production & Fundraising | 802 | 61 | 750 | 1,613 |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Total |
EXPENDITURE ON |
Charitable activities |
Opera Omnibus |
Trading as Opera South |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 29,101 | - |
TOTAL FUNDS CARRIED FORWARD | 27,608 | - | 27,608 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Accruals and deferred income |
Accrued expenses |
8. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 27,608 | (7,680 | ) | 19,928 |
TOTAL FUNDS | (7,680 | ) | 19,928 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,433 | (20,113 | ) | (7,680 | ) |
TOTAL FUNDS | ( |
) | (7,680 | ) |
Opera Omnibus |
Trading as Opera South |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
8. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.21 | in funds | 30.6.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 29,101 | (1,493 | ) | 27,608 |
TOTAL FUNDS | 29,101 | (1,493 | ) | 27,608 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 24,186 | (25,679 | ) | (1,493 | ) |
TOTAL FUNDS | 24,186 | (25,679 | ) | (1,493 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.7.21 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 29,101 | (9,173 | ) | 19,928 |
TOTAL FUNDS | 29,101 | (9,173 | ) | 19,928 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 36,619 | (45,792 | ) | (9,173 | ) |
TOTAL FUNDS | 36,619 | (45,792 | ) | (9,173 | ) |
. |
Opera Omnibus |
Trading as Opera South |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
9. | RELATED PARTY DISCLOSURES |