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2022-09-30-accounts

DRAFT ACCOUNTS (UNAUDITED) 30 SEPTEMBER 2022

COMPANY REG. NO. 2462695

Patron: Sir John Tomlinson CBE President: Edward Van Loock, Artistic Director: Jonathan Butcher Company Limited by Guarantee: Registered Charity No. 1000831 Registered Office: 211, Frenches Road, Redhill, Surrey RH1 2JE

Page 1 of 14

SURREY OPERA LEGAL AND ADMINISTRATIVE INFORMATION

Directors/Trustees R P Cordell (Chairman & Trustee) R Locke (Trustee) J C Butcher (Artistic Director) T C Baldwin (Financial Director & Trustee) Company Secretary (pro tem) Mrs P Locke Charity number 1000831 Company number 02462695 Registered office 211, Frenches Road Redhill Surrey RH1 2JE Independent examiner Countryside Accounting Ltd 1 , Castlehill Cottages Outwood Land Bletchingley Surrey RH1 4LR Bankers The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP

Page 2 of 14

SURREY OPERA – TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

The trustees present their report and accounts for the year ended 30 September 2022. This report is prepared in accordance with the small company regime (Section 416(3) of the Companies Act 2006).

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 memorandum and articles of association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Structure, governance and management

Surrey opera is a non-profit making organisation registered with the Charities Commission (no. 1000831) and a company limited by guarantee (no. 02462695) governed by its Memorandum and Articles of Association dated 24[th] January 1990.

The Company is not registered for VAT and thus all amounts in the financial statements are shown inclusive of any VAT.

The Company understands that it has no Corporation tax liability and therefore no provision has been made for tax payable.

All members pay an annual membership and performing members also pay a performance subscription. Members, where they pay applicable tax, are asked to make a Gift Aid declaration relating to memberships, subscriptions and donations. Gift Aid was last reclaimed in May 2022.

Throughout the year, the Company’s bankers were the Co-operative bank Ltd.

Principal activities and objectives

The Company’s main activity is the promotion and presentation of public performances of opera. It particularly aims to provide opportunities for newly emerging designers, directors, singers and musicians to demonstrate and develop their talents at an early stage in their careers. No significant change in the nature of these activities is planned in the coming year.

The Company's activities in the year under review included most of those planned for 2020, the year of the Company's 50th anniversary, delayed by the Covid-19 pandemic. These included the completion of the premiere performances of the new opera commissioned by the Company to mark its semicentenary, followed by concert performances of the piece, and finally a production of Mozart's "Don Giovanni" during the summer.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr. R P Cordell (Chairman) Mr. R Locke (Trustee) Mr. T C Baldwin (Financial Director)

Page 3 of 14

SURREY OPERA – TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Recruitment and Appointment of New Trustees.

Trustees are appointed for a 3 year term, but may stand for re-election at the next Annual General Meeting. The Secretary will draw up a list of candidates for election at the AGM. The Committee have the power at any time to appoint any person to be a Committee member, either to fill a casual vacancy or as an addition to the existing members but the total number of Committee members shall not exceed ten (10). A Committee member so appointed shall hold office only until the next AGM, when they are eligible for election.

In addition to the trustees, the members of the committee were Miss Louisa Alice-Rose, Mr. Jonathan Butcher, Mrs. Penny Locke, Mrs. Pat Carter, Mr. Ian Goldfinch and Mr. Adam Turner. During the co urse of the year, we were delighted to welcome Mrs. Sarah Wheeldon back onto the committee, and also welcome new members Mr. Toby Scholz, Mrs. Sarah Sidhom and Mrs. Madeleine Quiney.

Grants and sponsorship

Grants and sponsorship provide essential and much appreciated help for the Company. We are most g rateful to the John Lewis Partnershi p, H.R.Ta y lor Charitable Trust and the Sir Edward Lewis Foundation for their continued support during 2021-2022.

Financial Review

The financial year under review started right between the two performances of our 50th anniversary commission "Madeleine" by David Hackbridge Johnson, so the financial results did not give a clear picture of its financial impact. However, my review in last year's accounts was prepared sufficien tly long after the event to give a clear view of its financial outcome.

As noted in my last report, a run of concert performances were planned for February this year, and these went ahead at St. Mary Magdalene Church on the 17th and 18th. These performances were recorded and edited together to provide a studio-quality sound recording as part of a portfolio intended to promote the piece to other companies (including some of national standing) in the hope one or more may take it on and give it further exposure.

The overall financial results for "Madeleine" are sobering, representing by far the greatest loss in the Company's history: the overall income was £30,222.05, but the overall expenditure (including commissioning costs) was £61,101.37, giving a nett loss of £30,879.32. It is a tribute to the robustness of the Company's finances, together with the enormous support provided by our biennial productions at the Minack Theatre, without which we would never have survived this long, that not only has the Company weathered this loss, it ends the year in better financial shape than we ever have done. A final note: the one figure associated with "Madeleine" that I could not report last year was the income from recording sales (to the cast and Company), which I can now report yielded £98.50.

On the subject of the Minack, our summer show, Mozart's "Don Giovanni", was both great fun and a grea t success. Gi ven rs fi t i n th ree per f ormances over th e 24th an d 25th o f J une thi s year a t St . M ary Magdalene Church, then seven performances over the week of the 11th to the 15th of July at the Minack Theatre, it made a gross income of £61,448.78 for an expenditure of £41,148.67, yielding a nett income of £20,300.11.

Our final event of the year, and the final element of our 50th anniversary celebrations, was our gathering at Clyde Hall, entitled "Surrey Opera At Home". Attended by our Patron Sir John Tomlinson (who stayed throughout), many friends and members, old and current, managed to come, as well as

Page 4 of 14

SURREY OPERA – TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

directors, designers and cast members from our many productions over the years. Food and refreshments cost £427.53.

During the year, further sales of 50th anniversary memorabilia made £202.00 (mugs only), and online purchases through EasyFundraising yielded £51.67.

Supporter’s subscriptions received during the year raised £2,000 (2021: £1,775; 2020: £1,855; 2019: £2,445), and general donations £563 (2021:£185; 2020: £469; 2019: £510) which included £120 cash donations received at our "Surrey Opera At Home", and £250 from Louisa McAlpine who generously donated her fee as Choreographer for "Madeleine" back to the Company. Gift aid of £2,600 was reclaimed in 2022.

Finally, the company has received dividends totalling £1,475.56 (2021: £1,459.90; 2020: £355; 2019: £825) from the Joyce & George Hooper Memorial Fund, which has been invested in the CCLA COIF Charities Ethical Investment Income Fund since June 2020. No dividends were received from the company's shares in Clyde Hall (Addiscombe) Ltd.

Apart from expenditure on productions and events noted above, expenses included:

The company's holdings as at 30/9/2022 were as follows:

Note that, due to turbulence in the markets particularly in the run up to the year end, the value of the Joyce and George Hooper Memorial Fund has declined by over £4,428 over the year, constituting the bulk of the loss on the Company balance sheet. Owing to uncertainties in Government economic policy and market response thereto, as well as global economic factors, further decline over the coming year is most likely.

Reserves Policy

To give the company some financial security, the Joyce and George Hooper Memorial Fund was established in 2000 with the aim of building a reserve to subsidise productions, and in the longer term to provide bursaries by way of financial assistance to young performers who work with the company to aid them in launching their careers. The fund was reinvested in June 2020 in the CCLA COIF Charities Ethical Investment Income Fund, since when it has yielded quarterly dividend payments.

Public Benefit statement

The trustees consider that they have complied with Section 4 of the Charities Act 2011 amended by FRS 102 2015, with regard to the guidance on public benefit published by the Charity Commission.

Page 5 of 14

SURREY OPERA – TRUSTEES’ REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Trustees’ responsibilities in relation to the financial statements

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011 amended by FRS 102 2015. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board of trustees

T.C.Baldwin, Treasurer , 16/10/2022

Page 6 of 14

SURREY OPERA FOR THE YEAR ENDED 30 SEPTEMBER 2022

Balance Sheet

Notes
Fixed Assets
Tangible assets
4
Investments
5
Total fixed assets
Current assets
Debtors
6
Cash at bank and in hand
Total current assets
Creditors:amounts falling due within one year
7
Net current assets (liabilities)
Total assets less current liabilities
Creditors:amounts falling due after
more than one year
8
Total net assets (liabilities)
Fund balances
Restricted fund
11
Unrestricted fund
12
Total fund balances
-
12,149
12,149
(250)
2022
6,097
77,888
83,985
11,899
95,884
-
95,884
77,888
17,996
95,884
2,100
11,751
13,851
(250)
2021
6,097
82,316
88,413
13,601
102,014
-
102,014
82,316
19,698
102,014

The financial statements were approved at a meeting of the Directors held on

Date: 23rd October 2022

DIRECTOR …………………………………………… (R P Cordell – Chairman)

For the year ended 30[th] September 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006, relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Page 7 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

Incoming resources from generated funds
Donations and membership subscriptions
Activities for generating funds
Investment income
Grants and Sponsorship
Resources from charitable activities
Total incoming resources
Resources expended
Costs of generating funds
Charitable activities
Production costs
Insurance
Governance/Support costs
Total resources expended
Net incoming/(outgoing) resources
Gross transfers between funds
Net (outgoing)incoming resources before
recognised gains and losses
Other recognised gains and (losses)
Unrealised gains/(losses) on investments
Realised gains/(losses) on investments
Appreciation/(depreciation) of fixed assets
Net movement in funds
Fund balances at 1st October 2021(0)
Notes
10
9
5
5
Unrestricted
funds
£
4,043
352
1,476
7,000
63,769
Restricted
funds
£
Total 2022
£
4,043
352
1,476
7,000
63,769
Total 2021
£
3,430
421
1,460
8,500
0
79,240
427
79,587
712
216
79,240
427
79,587
712
216
13,811
0
15,580
655
314
80,942
(1,702)
-
(1,702)
-
-
-
-
(1,702)
19.698
-
-
-
(4,429)
-
-
(4,429)
82,316
80,942
(1,702)
-
(1,702)
-
(4,429)
-
-
(6,131)
102,014
16,549
(2,738)
-
(2,738)
-
6,066
-
-
3,328
98,687
Fund balances at 30th Sept 2022(1) 17,996 77,888 95,884 102,014

Notes: The statement of financial actives also complies with the requirements for an Income and Expenditure Account under the Companies Act 2006.

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

This financial statement was approved at the Annual General Meeting held at Clyde Hall on 23[rd] January 2023

Signed by the Trustees …………………………………………………… R.P.Cordell, Chairman …………………………………………………… T.C.Baldwin, Treasurer

Page 8 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. Accounting policies

The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice “Accounting and Reporting by Charities” issued in March 2005 and the Companies Act 2006.

All income receivable is recognised on an accruals basis.

All expenditure where not governance costs is allocated to charitable expenditure, as all relates to the organisation and staging of performances.

Governance costs include only those expenses directly related to meeting the statutory requirements of the Charity.

Until the year 2010-11, the tangible fixed asset values were stated at cost less depreciation. However, this approach has proven inappropriate given that it does not reflect the true value of the assets concerned, and there is no benefit to the company in applying d eprec a i ti on. Th ere f ore, n eep ng w i k i ith th e approac h spec ifi e d i n sec ti on . 1 1 a b ove, asse t values are currently given based on their projected second-hand resale value, which must be updated at not more than five year intervals.

The tangible fixed assets of the company at the beginning of the year were:

Timpani Surtitle display 180cm clothes rail

No such assets were acquired or disposed of during the year.

2. Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

3. Employees

There were no employees during the year.

Page 9 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

4. Tangible Fixed Assets £
Fixtures and Equipment
Brought forward at 1 October 2021 6,097
NBV 30 September 2022 6,097
Change in NBV 0
5. Fixed Asset Investments £
Listed Investments
Carrying value (market value) at 1 October 2021 52,316
Additional Investment 0
Disposals at carrying value 0
Unrealised gain/loss on revaluation (4,428)
__
Carrying value (market value) at 30 September 2022 47,888
(Listed investment consisted of units of the CCLA COIF Charities Ethical Investment Income Fund, purchased 4th & 11th June 2020) (Listed investment consisted of units of the CCLA COIF Charities Ethical Investment Income Fund, purchased 4th & 11th June 2020) (Listed investment consisted of units of the CCLA COIF Charities Ethical Investment Income Fund, purchased 4th & 11th June 2020)
Unlisted Investments
Brought forward at 1 October 2021 30,000
Additions 0
Disposals 0
__
Carried forward at 30th September 2022 30,000
(Unlisted investment consists of 3000 shares in Clyde Hall (Addiscombe) Ltd., purchased and valued at £10 each)
Total investments at 30 th September 2021 82,316
Total investments at 30 th September 2022 77,888
6. Debtors 2022 2021
£ £
Prepayments made 0 2,100
Outstanding receipts 0 0
7.
Creditors due in less than 1 year
2021 2020
£ £
Prepayments received 0 0
Outstanding payments 250 250
8. Creditors due in more than 1 year 2021 2020
£ £
Medium Term Loan 0 0

Page 10 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

9. Support Costs

Support Costs 2022 2021
£ £
Independent examiner’s fees 216 210
Piano Tuning 0 70
Postage and Stationery 0 7
Clyde Hall maintenance 0 27
216
___
314
___

10. Insurance

Insurance cover for the company is provided by the Eagle Star “Amateur Theatrical Societies Combined Policy” renewable in January 2023. Insurance for the timpani is provided by Brass Band Insurance Services, renewable in May 2023.

11. Restricted funds

These consist of the company’s shares in Clyde Hall (Addiscombe) Ltd., and units invested in the CCLA COIF Charities Ethical Investment Income Fund, held on behalf of the Joyce and George Hooper Memorial Fund.

12 . Unrestricted funds

Comprise the balance in the Company Cooperative Bank Community Directplus Current Account and petty cash, also including undischarged prepayments and debtors, less all creditors, and the values of tangible assets.

Page 11 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

13. Full Breakdown of Income and Expenditure

FOR THE YEAR ENDED 30 SEPTEMBER 2022
Restricted
INCOMING RESOURCES
2022
£
Membership and Donations
Bronze Membership Gift Aided (GA)
Bronze Membership Non GA
Silver Membership GA
Silver Membership Non GA
General Donations GA
General Donations Non GA
Show 1 (Madeleine) Subscriptions
Show 2 (Don Giovanni) Subscriptions
Show 1 Chorus Sundries (Refreshments, Score Hires, etc.)
Show 2 Chorus Sundries (Refreshments, Score Hires, etc.)
Fund-raising
Sale of 50th Anniversary Mugs
Donation through online sales (EasyFundraising)
Recording sales (Madeleine)
Charitable Activities
A
d ti
t th
Mi
k Th
t
ccommo a on a
e
nac
ea re
Income from Shows
Theatre Ticket Sales Show 1 (Madeleine)
Theatre Ticket Sales Show 2 (Don Giovanni)
Programme Income Show 1 (Madeleine)
Programme Income Show 2 (Don Giovanni)
Refreshment Income Show 1 (Madeleine)
Refreshment Income Show 2 (Don Giovanni)
Grants and Sponsorship
The Sir Edward Lewis Foundation
H.R.Taylor Charitable Trust
The John Lewis Partnership
Gift Aid Tax Rebate (to May 2022 inclusive)
Investment Income
Dividend Income
Total Incoming Resources
Unrestricted
2022
2022
£
£
Charity
Commission
Figures
1,020.00
180.00
500.00
300.00
382.00
181.00
450.00
850.00
80.00
100.00
4,043.00
202.00
51.67
98.50
352.17
300 00
.
10,039.00
51,479.60
202.30
1,232.00
147.25
369.18
63,769.33
3,000.00
3,000.00
1,000.00
7,000.00
2,599.60
2,599.60
1,475.56
1,475.56
79,239.66 79,239.66

Page 12 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

RESOURCES EXPENDED
Production Costs (activities undertaken directly)
Costumes & Makeup
Stage setup
Set
Props
Lighting
Programmes
Printing
Publicity
Posters and Handbills
Advertising
Banners
Reception for Surrey Opera Supporters
Auditions and Rehearsals
Accompanists
Rooms
Miscellaneous
Accommodation
Travel/Transport
Expenses
Director
Music Director
Designer
Lighting Designer
Choreographer
Cast
Orchestra
Players
Music
Food & Rehearsal Refreshments
Theatre Charges
Theatre Hire
Use of Box Office/Ticket Printing
Box Office Commission
Technical Support
Rights
Front of House
Total Expenditure on Productions
2021-22
2022
£
£
£
Show 1
Show 2
Total
954.39
785.09
1,739.48
2,117.07
41.77
44.49
125.33
230.00
693.00
3,251.66
227.00
471.87
698.87
113.06
178.26
589.00
100.00
30.00
1,010.32
320.00
320.00
1,800.00
1,150.00
1,000.00
51.00
4,001.00
11 715 00
11 715 00
,
.
,
.
636.27
955.50
1,591.77
2,500.00
1,000.00
2,000.00
500.00
750.00
500.00
650.00
250.00
3,124.42
6,139.75
17,414.17
20,155.00
10,119.00
60.00
200.00
155.45
52.62
30,742.07
1,753.00
874.00
128.00
851.13
219.80
2,160.00
19.00
1,000.00
25.44
71.88
7,102.25
38,744.72
40,841.87
79,586.59

Page 13 of 14

SURREY OPERA - NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

Costs of Generating Funds
SO At Home
Support/Governance Costs
Insurance
Accountancy
Total Expenditure
427.53
427.53
711.92
216.00
927.92
80,942.04

Page 14 of 14

Countryside Accounting Ltd L R Baharier FMAAT Li cense d & regu ate l d b y t h e A ssoc at on o i i f A ccount ng ec i T h n c ans ii to provide services in accordance with

Licence 2385

Report to the trustees/
members of
On accounts for the year
ended
Set out on pages
Respective
responsibilities of
trustees and examiner
Surrey Opera Surrey Opera Surrey Opera
30/09/2022 Charity no (if any) 1000831
1 to 3
(remember to include the page numbers of additional sheets)
The charity's trustees are responsible for the preparation of the accounts. The charity’s
trustees consider that an audit is not required for this year under section 144 of the
Charities Act 2011 (the Charities Act) and as amended by FRS effective and that an
independent examination is needed.
It is my responsibility to:

Basis of independent My examination was carried out in accordance with general Directions given by the examiner’s statement Charity Commission. 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

www.countrysideaccounting.com Telephone: 07815842133 Fax: 01883 742336 E-mail lrbaharier@yahoo.co.uk 1, Castlehill Cottages, Outwood Lane, Bletchingley, Surrey RH1 4LR Company House Registration 6870960

Independent examiner's statement

Date: 25/02/2023 Signed: Linda Baharier FMAAT Name: Linda R Baharier FMAAT Relevant professional Fellow Member of the Association of Accounting Technicians qualification(s) or body (if any): Address: 1, Castlehill Cottages, Outwood Lane Bletchingley, Redhill, Surrey RH1 4LR

Section B Disclosure

Only complete if the examiner needs to highlight material problems.

www.countrysideaccounting.com Telephone: 07815842133 Fax: 01883 742336 E-mail lrbaharier@yahoo.co.uk 1, Castlehill Cottages, Outwood Lane, Bletchingley, Surrey RH1 4LR Company House Registration 6870960

Give here brief details of Sorry to see that the Madelaine been very large loss & hopefully the future

any items that the productions will be more profitable. examiner wishes to disclose . With the Joyce & George Hooper fund, now invested the COIF – Charities Ethical Fund; quarterly income will be useful. I am glad to see the Charity has been able to survive despite the loss & hope it continues to do so.

www.countrysideaccounting.com Telephone: 07815842133 Fax: 01883 742336 E-mail lrbaharier@yahoo.co.uk 1, Castlehill Cottages, Outwood Lane, Bletchingley, Surrey RH1 4LR Company House Registration 6870960

www.countrysideaccounting.com Telephone: 07815842133 Fax: 01883 742336 E-mail lrbaharier@yahoo.co.uk 1, Castlehill Cottages, Outwood Lane, Bletchingley, Surrey RH1 4LR Company House Registration 6870960