Caledonian Opera Company - Charities report

REGISTERED COMPANY NUMBER: SC135913 (Scotland)

REGISTERED CHARITY NUMBER: 019844

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 January 2026

for

CALEDONIAN OPERA COMPANY

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Notes to the Financial Statements

6

to

9

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 January 2026. 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 principal activity of the charity is the promotion of an appreciation of musical drama to a wider audience through performances in venues which are smaller than those used by larger opera companies.

STRATEGIC REPORT

Achievements and performance

Charitable activities

During year year ended 31 January 2025 the charity did not promote the performance of an opera.The deficit for the year on unrestricted funds of £790 was the result of ongoing administrative costs (2023 - deficit £424).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Caledonian Opera Company is a company limited by guarantee, governed by its Memorandum and Articles of Association and is registered as a charity by the Office of the Scottish Charity Regulator in accordance with the provisions of the Charities and Trustee Investment (Scotland) Act 2005. In accordance with the Memorandum of Association, every member is liable to contribute a sum of £1 in the event of the company being wound up.

Recruitment and appointment of new trustees

The company's Articles of Association provide for directors to appoint additional members as and when they deem it appropriate to do so.

Organisational structure

The charity is administered by its trustees.

Induction and training of new trustees

Whilst there is currently no formal induction and training of trustees, steps are in place to prepare a formal programme to replace the current informal arrangements.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC135913 (Scotland)

Registered Charity number

019844

Registered office

House Of Schivas

Ythanbank

Ellon

Aberdeenshire

AB41 7TN

Trustees

The Lord I G Catto

C Phillips Concert Agent (resigned 8.10.25)

A Bennett Company Director (appointed 8.10.25)

Company Secretary

The Lord I G Catto

Independent Examiner

A T Jones ATT

Grosvenor Tax Practice Limited

7 Larksfield Road

Kingscourt

Stroud

Gloucestershire

GL5 3PL

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 16 October 2026 and signed on the board's behalf by:

The Lord I G Catto - Trustee

I report on the accounts for the year ended 30 January 2026 set out on pages four to nine.

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's 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 the independent examiner's report

My examination was 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 seeking explanations from you as 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 connection with my examination, no matter has come to my attention :

(1)	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; and

-	to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations

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.

A T Jones ATT

Grosvenor Tax Practice Limited

7 Larksfield Road

Kingscourt

Stroud

Gloucestershire

GL5 3PL

Date: .............................................

30.1.26

30.1.25

Unrestricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

5,001

-

EXPENDITURE ON

Charitable activities

Grants

6,200

-

Other

613

790

Total

6,813

790

NET INCOME/(EXPENDITURE)

(1,812

)

(790

)

RECONCILIATION OF FUNDS

Total funds brought forward

9,508

10,298

TOTAL FUNDS CARRIED FORWARD

7,696

9,508

30.1.26

30.1.25

Unrestricted

Total

fund

funds

Notes

£

CURRENT ASSETS

Cash at bank

8,324

10,719

CREDITORS

Amounts falling due within one year

4

(628

)

(1,211

)

NET CURRENT ASSETS

7,696

9,508

TOTAL ASSETS LESS CURRENT LIABILITIES

7,696

9,508

NET ASSETS

7,696

9,508

FUNDS

5

Unrestricted funds

7,696

9,508

TOTAL FUNDS

7,696

9,508

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 2026 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 small charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2026 and were signed on its behalf by:

I G Catto - Trustee

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.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 January 2026 nor for the year ended 30 January 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 January 2026 nor for the year ended 30 January 2025.

3.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

EXPENDITURE ON

Other

790

NET INCOME/(EXPENDITURE)

(790

)

RECONCILIATION OF FUNDS

Total funds brought forward

10,298

TOTAL FUNDS CARRIED FORWARD

9,508

4.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.26

30.1.25

£

Accrued expenses

628

1,211

5.	MOVEMENT IN FUNDS

Net

At

movement

At

31.1.25

in funds

30.1.26

£

Unrestricted funds

General fund

9,508

(1,812

)

7,696

TOTAL FUNDS

9,508

(1,812

)

7,696

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

5,001

(6,813

)

(1,812

)

TOTAL FUNDS

5,001

(6,813

)

(1,812

)

Comparatives for movement in funds

Net

At

movement

At

31.1.24

in funds

30.1.25

£

Unrestricted fund

10,298

(790

)

9,508

TOTAL FUNDS

10,298

(790

)

9,508

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted fund

-

(790

)

(790

)

TOTAL FUNDS

-

(790

)

(790

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

At

movement

At

31.1.24

in funds

30.1.26

£

Unrestricted fund

10,298

(2,602

)

7,696

TOTAL FUNDS

10,298

(2,602

)

7,696

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted fund

5,001

(7,603

)

(2,602

)

TOTAL FUNDS

5,001

(7,603

)

(2,602

)

6.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 January 2026.

7.	ULTIMATE CONTROLLING PARTY

The charity is under the control of the trustees who are also the directors of the company.