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Charity number: 1003836
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
PIMLICO OPERA
Docusign Envelope ID: E0C4B1CD-D596-451E-9312-F41B43ECA269Docusign Envelope ID: CE136B62-A707-8289-8311-3190F82C92DD
PIMLICO OPERA
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Trustees' responsibilities statement | 7 |
| Independent examiner's report | 8 - 9 |
| Consolidated statement of financial activities | 10 |
| Consolidated balance sheet | 11 |
| Charity balance sheet | 12 |
| Consolidated statement of cash flows | 13 |
| Notes to the financial statements | 14 - 24 |
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PIMLICO OPERA
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025
The organisation is a charity, which was registered on 8 August 1991, governed by a deed dated 3 June 1991.
Trustees G Meagher, Chair R Anderson JG Derrick J Farr HCH Munro (appointed 24 February 2026) Lady IMA Murray A Sparrowhawk (resigned 28 April 2025) AJ Uttley N Zeman Charity registered number 1003836 Principal office Sutton Manor Farm Bishops Sutton Alresford Hampshire SO24 0AA Secretary E Cranmer Founder W Kani Bankers Barclays Bank plc Kingsland PO Box 3628 London E8 2JK Independent Examiner Janice Matthews FCA Menzies LLP Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
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PIMLICO OPERA
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025
The Trustees present their report and the consolidated financial statements of the charity and its subsidiary Pimlico Opera Productions Limited for the year ended 31 July 2025.
Reference and administrative information set out on page 1 forms part of this report.
Objectives and activities for the public benefit
The objects of the charity are to advance education through the promotion, support and encouragement of the art of music and drama and in particular opera and musical theatre. The charity's goal is to build confidence through teamwork, education and music.
Pimlico Opera has two strands of activity: in prison and in primary schools. The charity has worked in prisons for 37 years (since 1989) and in primary schools for 13 years (since 2013).
We are fortunate to have generous support from many donors including The Mila Charitable Organisation , The Linbury The Trust, The Ingram Trust, The Underwood Trust and The Michael Bishop Foundation.
The prison work began in Wormwood Scrubs. The first large-scale fully-staged collaboration took place in 1992 and since then tens of thousands of the public have been taken into prison and thousands of prisoners have been involved. Former prisoners have been employed by a sister charity after release.
The musical Hairspray in March 2020 was completed days before the first COVID lockdown. Further lockdowns and high levels of infection prevented projects taking place in FY21 or FY22. In November 2022 (FY23) the charity returned for Betty Blue Eyes , based on the Alan Bennett film, A Private Function, about illegal pork supplies during World War 2. In March 2025, the charity staged Made in Dagenham at HMP Bronzefield.
These large-scale collaborations take place over six weeks. Prisoners participate in full-time rehearsals resulting in a truly excellent piece of musical theatre performed with live orchestra before a paying public. Building towards such a goal is ambitious. Many prisoners have never been to the theatre, some cannot read, for some English is a second language. Prisoner families attend. The evidence is that prisoners, the prison itself and the public gain immeasurably from these collaborations. There is personal, social and familial approbation for participants and a change in attitude amongst fellow prisoners, prison staff and the public who are astonished by the talent they see.
These projects now cost around £200,000 which comes from three sources: public donations, trust donations and ticket sales. Raising funds had become more difficult and it was decided to present these large-scale musicals every two years and add a new stream of activity: a weekly class throughout the year. Since January 2024 we have offered weekly music and dance classes to the Bronzefield residents, and thus the ladies honed their skills and built their confidence to prepare for the intensive 4 weeks of full–time rehearsals with the professional cast for the large scale musicals and public showcases.
The Primary Robins programme was launched in September 2013. Fifty years ago, every primary school had children sitting around a piano learning songs. In 2013, Primary Robins was introduced to four Hampshire schools, giving 430 Robins a weekly half-hour singing class.
After COVID, the project had around 2,000 pupils and by September 2021 (FY22) it had grown to 4,110 Robins in 37 schools. Today there are 6,800 Robins (FY24: 6,050 Robins).
The project is startling in its simplicity and in its effectiveness: classes gather every week and learn songs. Each term the Robins have a new specially-prepared songbook of around 10 songs, one of which is in another language. All songs are traditional rather than pop tunes, and often turn out to be familiar to our Robins’ parents and grandparents.
The songbook includes musical notation. It is not intended to teach the children to read music, but some see the pattern of how they sing and what the dots do.
The project takes place in schools that have no music provision and focuses on schools with disadvantaged children, where Key Stage 2 (age 7-11) results are below 70% and they have a high percentage of free school meals. There is no cost to either the schools or the parents.
Over these 12 academic years, we have seen the huge impact that the project has had on so many children. Singing every week for 30 minutes boosts confidence, encourages working as part of a team and gets the brain ready for learning.
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PIMLICO OPERA
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
The Trustees have given due consideration to the Charity Commission's guidance on public benefit and are satisfied that the objectives, strategy and future plans meet the definition as required by the Charities Act 2011.
The charity does not rely on volunteers delivering its charitable activities.
Achievements and performance
On 3 April 2025 Pimlico Opera’s key staff (Helen Sennett and Annabel Larard) were invited to Windsor Castle to celebrate community music across the United Kingdom. They had the great privilege of meeting the King. The evening began with a concert in the Waterloo Chamber including performances by YolanDa Brown and the Sing for Freedom Choir, followed by a reception in St George's Hall where His Majesty King Charles III chatted to guests.
Primary Robins
The project is nationwide in Hampshire (5 schools), Surrey (8 schools), Kent (1 school), Essex (9 schools), Manchester (5 schools), Newcastle (8 schools), Durham (4 schools), Lewisham (8 schools), Staffordshire (4 schools) and Ripon (1 school). Annabel Larard has managed the project since its inception in 2013 which has now expanded into four Sheffield schools.
Besides recruiting the teachers and managing the schools, Annabel is finding ways of deepening their connection with the programme. This has included end-of-term concerts (for Surrey schools, this happens in the Grange Park Opera House) and orchestral workshops;
In the academic year 2024/25 activities beyond the weekly classes were as follows:
-
The Berkeley Ensemble gave workshops to schools in Newcastle, Essex and Lewisham.
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Eight schools had Stories in Sound - children were encouraged to work together and create their own original story, taking inspiration from a variety of chamber music by composers such as Nielsen, Rossini, Grieg and Poulenc played by the Berkeley Ensemble. An illustrator took ideas and suggestions from the children and brought them to life on a large screen.
-
Royal Northern College of Music woodwind quintet gave a performance of Peter & the Wolf at a Manchester school. It was a great success and it is hoped to repeat this at other Manchester schools.
Victoria Collier, Deputy Head, Old Moat Primary, Manchester said: “Our school is in an area of high deprivation. We simply can’t afford to buy in music tuition and something really special happens when a real musician works with children. Now we can’t imagine school life without your teacher Ed Robinson. Staff and children look forward to his visits: the impact on the mood is palpable as the children’s voices fill the air singing with more confidence than we have ever seen at Old Moat.”
Ruth Nutton-Jones, Deputy Head, Medlock Primary, Manchester said: “Our children have learnt so much and the development of their musical understanding and vocabulary has been particularly clear as well as their performance and teamwork skills. One particular benefit has been that our school choir is now a massive 55-person operation, and it is down to the enthusiasm the children now have for singing.”
Beyond the regular classes, the project brings further enrichment in various formats. The teachers are hugely enthusiastic about all these opportunities. The concerts increase the children's self-esteem and confidence and give them the opportunity to perform in a theatre in front of their families.
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PIMLICO OPERA
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Prison
Helen Sennett leads the prison work.
Pimlico Opera continues to work with HMP Bronzefield, one of only 12 UK women's prisons and the only purpose-built private prison for women in the UK.
It is the largest female prison in Europe, with an approximate roll call of 572 in four house blocks with a mother & baby unit for 12 women and 13 babies up to the age of 18 months. The prison is operated by Sodexo Justice Services.
Contact with a prison is maintained throughout the year with weekly classes every Friday afternoon for 2-3 hours with approximately 20 prisoners.
The stark reporting from this year’s Bromley Briefings highlights the gravity of the situation for women in prison; self-harming is eight times higher than male prisons. Purposeful activity on a regular basis is often lacking in our overcrowded prison system, and our classes help chip away at the challenge.
In March 2025 (FY25) a large scale musical Made in Dagenham was staged, our 28th prison collaboration. Four weeks of intensive rehearsal – all day, every weekday, began in late January 2025, with public performances during the week 5-9 March 2025 and two performances for prisoners.
Having benefitted from the weekly tuition, the quality of singing, including three-part harmony was exceptional. Richard Morrison, Head of Culture at The Times, attended a rehearsal and wrote a substantial piece for his paper.
Musical Theatre review gave the show 5 stars: “Forget the London Palladium, the Garrick and the Gielgud, the place to see theatre at its most inspiring last week was at a 280-seater pop-up in the gymnasium of Europe’s biggest all-women prison not far from Heathrow.
Having now seen all six of Pimlico Opera’s collaborations with Bronzefield, I can confidently say Made in Dagenham, a darn good West End musical full of tears and laughter based on the true story of female sewing machinists at Ford in East London striking for equal pay in the late 1960s, stands right up there with the best.” The ladies that performed were highly commended in the 2025 Koestler Awards. When the performances are over, it can be difficult for the prisoners. However, the weekly classes helped ameliorate this lull.
A few comments are given here:
“Thank you so very much for giving my little sister the chance to perform in the show. I haven’t seen her so happy, healthy and focused as I did last night, and was overcome with pride and emotion all night, I still am this morning! Again, thank you for all the hard work you all do, it truly is amazing. Never forget the difference you make to someone’s life.”
“What makes a great artist is a combination of great talent and great humility and you showed us both. Thank you.” Marlena, prisoner
“What an experience. It has changed my life for sure.” Cast member
“The high point of my entire professional career.” Cast member
“I’ll treasure this forever.” Brenda, prisoner
“Both outstanding and humbling.” Audience member
A lifer from 2012 contacted us: “Just to say I am out now. I took part in Les Miserables as the leader of the Revolution, Enjoras. As a lifer, you gave me hope and acceptance. Thank you.” Garry, HMP Erlestoke, Wiltshire
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PIMLICO OPERA
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Future plans 2025/26
The weekly classes in Bronzefield prison have continued. Music is now a regular part of the lives of the residents there.
In 2026, we will have a smaller scale performance at HMP Bronzefield with tickets on sale to the public. This gives the Bronzefield residents an opportunity to work towards a major milestone as part of a professional production, but without the full production value of the biennial performances. If successful, we plan to move towards a model where we have two performances per year, with one full scale production every other year.
The school year 2025/26 continues with 6,800 Robins in 60 schools. There are four new schools in Doncaster/Sheffield and the remainder are spread over Hampshire, Surrey, Kent, Essex, Manchester, Newcastle, Durham, Lewisham, Staffordshire Yorkshire and Sheffield.
There is no better way of bringing people together than through song. The benefits will be felt for many years to come. It is planned to increase Robins enrichment activities by providing further orchestral workshops during the coming financial year.
Financial review, reserves policy and risk management
The charity’s financial results reflect the biennial cycle of the prison opera production. A full prison production typically costs approximately £200,000 and is staged every two years. As a result, financial performance can vary significantly between years as funds are raised and accumulated ahead of production periods. In the current year the charity recorded net income before taxation credits of £154,012 (2024: £11,034) reflecting fundraising activity ahead of the next production cycle.
At 31 July 2025, Pimlico Opera and its subsidiaries ("the Group”) held total consolidated funds of £586,085, comprising unrestricted funds of £278,344 and restricted funds of £307,741. The charity’s subsidiary production company recorded a deficit in the year, reflecting the timing of production-related activity within the biennial cycle. This is expected within the charity’s financial planning and is supported by the charity’s reserves and reflected in the consolidated numbers. The financial position of the parent charity alone is presented separately in the charity's Statement of Financial Position. The Trustees maintain a reserves policy designed to ensure the continuity of core programmes and financial stability between production cycles.
The Primary Robins programme has continued to expand and now operates in over 60 schools. The Trustees aim to hold forward funding sufficient to guarantee delivery of the programme for a full academic year, particularly in disadvantaged schools where continuity of provision is important. With the programme at its current scale, the Trustees estimate this requires approximately £175,000 to cover direct teaching costs including teachers, travel and programme leadership. Where appropriate, these costs may be supported by restricted funds raised specifically for the programme.
In addition, the Trustees aim to hold general reserves equivalent to twelve months of operating expenditure, currently estimated at approximately £120,000. Taken together, the Trustees therefore consider a minimum reserve level of approximately £300,000 to be appropriate.
At the year end, unrestricted reserves provide coverage to meet the charity’s general reserves requirements and, together with restricted funds held for programme delivery, are above the minimum policy level to provide the charity with appropriate financial stability to plan future activity. This includes contracting artists in advance of the next prison production and supporting planned enrichment activities such as orchestral workshops for the Primary Robins project.
The charity receives no government funding and relies primarily on support from trusts, foundations and major individual donors, together with ticket sales from productions. This funding model creates a degree of income volatility, which the Trustees manage through careful financial planning and the maintenance of appropriate reserves.
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PIMLICO OPERA
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Structure, governance and management
The charity is established and governed by a trust. Its activities, assets, and operations are administered in accordance with the terms of the trust deed and applicable charity law, under the oversight of the appointed trustees. The Trustees who served during the year were as follows:
G Meagher (Chair) R Anderson JG Derrick J Farr Lady IMA Murray A Sparrowhawk (resigned 28 April 2025) AJ Uttley N Zeman
New Trustees are appointed by the existing Trustees on the basis that they will provide the board with skills and experience appropriate to the needs of the charity. They are usually already familiar with Pimlico Opera but are also given additional background information by the board and management of the charity by way of induction.
Victoria Sassoon and Ismay Forsyth have been appointed ambassadors to Pimlico Opera. In this capacity they have begun supporting the charities activities and have attended Trustee meetings as observed. The Trustees may consider them for Trustee roles in the future.
The board meets when necessary and at least once a year and is responsible for the strategic direction and policy of the charity. Day to day responsibility is delegated to senior staff and the Founder, Wasfi Kani.
Key management personnel remuneration
The Trustees consider that the board of Trustees and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the trust on a day to day basis. Remuneration decisions are delegated to The Founder.
All Trustees give their time freely and no Trustee received any remuneration in the year. Details of related party transactions are disclosed in note 14.
Connected charities
Pimlico Opera has an associated charity, Grange Park Opera. The two charities share an office and staff, as detailed in the notes to the accounts. George Meagher is also a trustee of Grange Park Opera.
Some Key Management personnel are employed jointly with Grange Park Opera and their costs are recharged to Pimlico Opera based on their time spent working on Pimlico Projects. Overhead costs that are shared with Grange Park Opera in FY25 have been recharged to the charity.
This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities.
Approved by order of the members of the Board of Trustees and signed on their behalf by:
................................................ 2EB89A7980B04BA... E Cranmer Secretary of Trustees Date: 16-Apr-2026
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PIMLICO OPERA ~~nn~~ STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2025
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees and signed on its behalf by:
................................................
G Meagher Chair
26-Apr-2026 Date:
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PIMLICO OPERA
INDEPENDENT EXAMINERS' REPORT
Independent examiner's report to the trustees of Pimlico Opera ('the Group')
I report to the charity trustees on my examination of the consolidated accounts of the Group comprising Pimlico Opera ('the parent charity') and its subsidiary undertaking for the year ended 31 July 2025.
Responsibilities and basis of report
As the trustees of the parent charity you are responsible for the preparation of the consolidated accounts of the Group in accordance with the requirements of the Charities Act 2011 ('the 2011 Act') and you have chosen to prepare consolidated accounts for the Group. You are satisfied that the accounts of both parent charity and the Group are not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the consolidated accounts carried out under section 152 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 152(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.
Independent examiner's statement
Since the Trustees have opted to prepare consolidated accounts for the Group and the Group's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the Group has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
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:
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accounting records with respect to the parent charity were not kept as required by section 130 of the 2011 Act and with respect to its subsidiaries as required by section 386 of the Companies Act 2006; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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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 (FRS102)].
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PIMLICO OPERA
INDEPENDENT EXAMINERS' REPORT (CONTINUED)
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.
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the parent charity and the charity's trustees as a body, for my work or for this report.
Signed: Dated: 27-Apr-2026
Janice Matthews FCA
Menzies LLP
Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
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PIMLICO OPERA
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments Total income Expenditure on: Charitable activities: 5 Prison project expenses Primary Robins expenses Support costs Governance costs Generating funds Total expenditure Net income before taxation Theatre Tax Relief Tax Credits Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 30,623 32,138 12,089 74,850 - - - 7,066 - 7,066 67,784 31,473 99,257 179,087 99,257 278,344 |
Restricted funds 2025 £ 528,226 35,683 - 563,909 199,125 164,873 91,011 - 22,672 477,681 86,228 - 86,228 221,513 86,228 307,741 |
Total funds 2025 £ 558,849 67,821 12,089 638,759 199,125 164,873 91,011 7,066 22,672 484,747 154,012 31,473 185,485 400,600 185,485 586,085 |
Total funds 2024 £ 257,947 - 8,766 |
|---|---|---|---|---|
| 266,713 | ||||
| 13,145 149,236 65,588 6,203 21,508 |
||||
| 255,680 | ||||
| 11,033 - |
||||
| 11,033 | ||||
| 389,567 11,033 |
||||
| 400,600 |
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PIMLICO OPERA
CONSOLIDATED BALANCE SHEET AS AT 31 JULY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Current assets | |||||
| Debtors | 10 | 123,669 | 93,684 | ||
| Investments | - | 254,433 | |||
| Cash at bank and in hand | 543,435 | 206,477 | |||
| 667,104 | 554,594 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within one year | 11 | (81,019) | (153,994) | ||
| Net current assets | 586,085 | 400,600 | |||
| Total net assets | 586,085 | 400,600 | |||
| Charity funds | |||||
| Restricted funds | 12 | 307,741 | 221,513 | ||
| Unrestricted funds | 12 | 278,344 | 179,087 | ||
| Total funds | 586,085 | 400,600 |
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
[ceo ................................................ 943E6C43CD5543E...by: G Meagher Chair Date: 26-Apr-2026
The notes on pages 14 to 24 form part of these financial statements.
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PIMLICO OPERA
CHARITY STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Investments | 9 | 100 | 100 | ||
| 100 | 100 | ||||
| Current assets | |||||
| Debtors | 10 | 167,059 | 44,340 | ||
| Investments | - | 254,433 | |||
| Cash at bank and in hand | 541,019 | 198,013 | |||
| 708,078 | 496,786 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within one year | 11 | (66,226) | (202,993) | ||
| Net current assets | 641,852 | 293,793 | |||
| Total net assets | 641,952 | 293,893 | |||
| Charity funds | |||||
| Restricted funds | 12 | 504,204 | 223,928 | ||
| Unrestricted funds | 12 | 137,748 | 69,965 | ||
| Total funds | 641,952 | 293,893 |
The charity's net movement in funds for the year was £348,059 (2024: £(172,581)).
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
[ceo ................................................ 943E6C43CD5543E...by: G Meagher
Chair
26-Apr-2026 Date:
The notes on pages 14 to 24 form part of these financial statements.
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PIMLICO OPERA
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025
| Note Cash flows from operating activities Net cash used in operating activities 15 Cash flows from investing activities Dividends and interest from investments Proceeds from the sale of investments 17 Purchase of investments Net cash provided by/(used in) investing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 16 |
2025 £ 70,435 12,089 254,434 - 266,523 - 336,958 206,477 543,435 |
2024 £ 31,496 |
|---|---|---|
| 8,766 - (254,434) |
||
| (245,668) | ||
| - | ||
| (214,172) 420,649 |
||
| 206,477 |
The notes on pages 14 to 24 form part of these financial statements
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. General information
The organisation is an unincorporated charity, which was registered in England and Wales on 8 August 1991 under number 1003836.
The address of the registered office and principal place of business is Sutton Manor Farm, Bishop's Sutton Road, Alresford, SO24 0AA.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Pimlico Opera meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
2.2 Basis of consolidation
The group financial statements consolidate the financial statements of Pimlico Opera and its wholly owned subsidiary Pimlico Opera Productions Limited for the year end 31 July 2025.The holding represents 100 £1 ordinary shares.
2.3 Going concern
At the time of approving the financial statements, the Trustees have undertaken an assessment of the adequacy of the resources available to the charity. The Trustees have a reasonable expectation the charity has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.
2.4 Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure that meets these criteria is charged to the fund, together with an allocation of management and support costs.
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
2. Accounting policies (continued)
2.5 Income recognition
All incoming resources are included in the statement of financial activities when the charity is unconditionally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to the particular categories of income:
Income from prison opera performances is recognised in the year in which production takes place.
Voluntary income is received by way of donations and gift aid tax. Donations are recognised when received, provided that the conditions attached to them can be met. Prison gifts which are given in relation to a specific production and are recognised in the year the production takes place.
Grants are recognised when the charity becomes unconditionally entitled to the grant. If grants relate to a prison production they are deferred to the year in which the production takes place.
Investment income is recognised in the year in which it is receivable.
2.6 Investments
Investments in subsidiaries are valued at cost less provision for impairment.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.8 Financial instruments
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Expenditure recognition
Expenditure is recognised on an accruals basis as liabilities are incurred. Costs relating to a particular activity are allocated directly, whereas support and governance costs are apportioned in relation to usage.
Charitable expenditure comprises the costs of opera productions for prison performances, workshops and the continuing work in primary schools in relation to Primary Robins.
Investment income, gains and losses are allocated to the appropriate fund.
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
3. Income from donations and legacies
| Donations General donations Individual donations - prison Donations from trusts - prison Primary Robins donations Donations from trusts - Primary Robins Gift aid on donations Grants Core grants from trusts Total 2025 Total 2024 Income from charitable activities Compensation received Prison project tickets Programme sales and other income |
Unrestricted funds 2025 £ 30,623 - - - - - - 30,623 5,100 Unrestricted funds 2025 £ - 29,998 2,140 32,138 |
Restricted funds 2025 £ - 57,415 169,380 47,175 227,600 26,656 - 528,226 252,847 Restricted funds 2025 £ 2,425 3,258 30,000 35,683 |
Total funds 2025 £ 30,623 57,415 169,380 47,175 227,600 26,656 - 558,849 257,947 Total funds 2025 £ 2,425 33,256 32,140 67,821 |
Total funds 2024 £ - - 14,440 55,287 171,750 11,370 5,100 |
|---|---|---|---|---|
| 257,947 | ||||
| Total funds 2024 £ - - - |
||||
| - |
4. Income from charitable activities
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. Analysis of expenditure by activities
| Prison Project Robins Project Administration and governance Total 2024 Analysis of direct costs |
Activities undertaken directly 2025 £ 217,263 169,407 - 386,670 183,889 |
Support costs 2025 £ 40,187 50,824 7,066 98,077 71,791 |
Total funds 2025 £ 257,450 220,231 7,066 484,747 255,680 |
Total funds 2024 £ 51,825 197,652 6,203 |
|---|---|---|---|---|
| 255,680 | ||||
| Performance and teaching fees Director, designer, choreographer and conductor Orchestra fees Sets, costumes and props Venue costs Rehearsal room and music costs Travel and transport expenses Other direct expenses Prison workshop costs Fundraising costs Total 2024 |
Prison Project 2025 £ 53,495 25,760 18,110 26,089 34,371 5,441 11,471 7,128 17,260 18,138 217,263 28,313 |
Robins Project 2025 £ 128,297 - 17,240 - - - 12,771 6,565 - 4,534 169,407 155,576 |
Total funds 2025 £ 181,792 25,760 35,350 26,089 34,371 5,441 24,242 13,693 17,260 22,672 386,670 183,889 |
Total funds 2024 £ 117,661 - 8,699 1,000 - 50 13,116 9,786 12,070 21,507 |
|---|---|---|---|---|
| 183,889 | ||||
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Office costs Examiner's fees and accountancy Printing, postage and stationery Governance costs Total 2024 |
Prison Project 2025 £ 27,822 8,723 3,533 109 - 40,187 23,483 |
Robins Project 2025 £ 36,754 9,243 3,533 1,294 - 50,824 42,105 |
Administration and Governance 2025 £ - - - - 7,066 7,066 6,203 |
Total funds 2025 £ 64,576 17,966 7,066 1,403 7,066 98,077 71,791 |
Total funds 2024 £ 41,959 16,882 4,232 2,515 6,203 71,791 |
|---|---|---|---|---|---|
6. Independent examiner's remuneration
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fees payable to the charity's independent examiner for the independent | ||
| examination of the charity's annual accounts | 4,250 | 3,000 |
7. Staff costs
| Management charge | 2025 £ 37,252 37,252 |
2024 £ 20,898 |
|---|---|---|
| 20,898 |
Staff are jointly employed and paid by Grange Park Opera. Their costs are charged to Pimlico based on time spent working on Pimlico activities.
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
8. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2024 - £NIL) .
During the year, no trustee expenses have been incurred (2024 - £NIL) .
9. Fixed asset investments
| charity Cost or valuation At 1 August 2024 At 31 July 2025 |
Investments in subsidiary companies £ 100 |
|---|---|
| 100 |
Principal subsidiaries
The following is a subsidiary undertaking of the charity:
| Name | Company | **Holding ** | Included in | |
|---|---|---|---|---|
| number | consolidation | |||
| Pimlico Opera Productions Limited | 11137274 | 100% | Yes | |
| The financial results of the subsidiary for the year were: | ||||
| Name | Income | Expenditure | Profit/(Loss)/ | Net |
| £ | £ | Surplus/ | assets/(liabili | |
| (Deficit) for | ties) | |||
| the year | £ | |||
| £ | ||||
| Pimlico Opera Productions Limited | 2,425 | (196,473) | (194,047) | (55,766) |
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
10. Debtors
| Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income Theatre tax relief |
Group 2025 £ 36,000 - - 9,518 78,151 123,669 |
Group 2024 £ - - 40,651 6,355 46,678 93,684 |
charity 2025 £ 36,000 121,541 - 9,518 - 167,059 |
charity 2024 £ - - 40,490 3,850 - |
|---|---|---|---|---|
| 44,340 |
11. Creditors: Amounts falling due within one year
| Trade creditors Amounts owed to group undertakings Other taxation and social security Grange Park Opera Accruals and deferred income Deferred income at 1 August 2024 Resources deferred during the year Amounts released from previous periods Deferred income at 31 July 2025 |
Group 2025 £ 8,266 - 1,247 33,782 37,724 81,019 |
Group 2024 £ 4,961 - - 26,958 122,075 153,994 |
charity 2025 £ 8,659 - 2,955 19,388 35,224 66,226 Group 2025 £ 113,766 24,727 (113,766) 24,727 |
charity 2024 £ 4,960 50,000 - 26,958 121,075 |
|---|---|---|---|---|
| 202,993 | ||||
| Group 2024 £ 25,075 102,266 (13,575) |
||||
| 113,766 |
Deferred Income includes Prison supporter donations and trust donations received in advance of the next Prison show to take place in 2027.
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
12. Statement of funds
Statement of funds - current year
| Unrestricted funds Group general reserve Restricted funds Primary Robins fund Prison project Total funds |
Balance at 1 August 2024 £ 179,087 221,513 - 221,513 400,600 |
Income £ 74,850 281,200 282,709 563,909 638,759 |
Expenditure £ 24,407 (220,231) (257,450) (477,681) (453,274) |
Balance at 31 July 2025 £ 278,344 |
|---|---|---|---|---|
| 282,482 25,259 |
||||
| 307,741 | ||||
| 586,085 |
General Reserve
The Trustees aim to hold a general reserve to cover 12 months operating costs equivalent to £120,000.
These include the reserves of the trading subsidiary which amount to (£55,766) (2024: £106,808).
Prison project fund
The majority of funding given specifically for the purpose of our Prison work comes from individual donors, Trusts, and Foundations. The Project maintains contact with the prison throughout the year with weekly sessions and produces a large scale musical production once every two years. During FY25, there were no transfers between unrestricted and restricted funds (FY24 £37,027 was transferred from the general fund to fund the work in Prison).
Primary Robins fund
Funding for Primary Robins is received from individual donors, ad hoc fundraising initiatives, Trusts and foundations. The project provides a half hour singing lesson every week of the school year. The trustees aim to hold funds in reserve to cover the direct teaching costs for a full academic school year amounting to £175,000.
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
12. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Group general reserve Restricted funds Primary Robins fund Prison project Total funds |
Balance at 1 August 2023 £ 208,451 181,116 - 181,116 389,567 |
Income £ 13,866 238,051 14,796 252,847 266,713 |
Expenditure £ (6,203) (197,654) (51,823) (249,477) (255,680) |
Transfers in/out £ (37,027) - 37,027 37,027 - |
Balance at 31 July 2024 £ 179,087 |
|---|---|---|---|---|---|
| 221,513 - |
|||||
| 221,513 | |||||
| 400,600 |
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 359,363 (81,019) 278,344 |
Restricted funds 2025 £ 307,741 - 307,741 |
Total funds 2025 £ 667,104 (81,019) |
|---|---|---|---|
| 586,085 |
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 333,081 (153,994) 179,087 |
Restricted funds 2024 £ 221,513 - 221,513 |
Total funds 2024 £ 554,594 (153,994) |
|---|---|---|---|
| 400,600 |
14. Related party transactions
At 31 July 2025 Pimlico Opera owed Grange Park Opera £33,782 (2024: £26,958).
During the year Grange Park Opera charged Pimlico Opera £60,873 for shared staff and office costs (2024: £50,148).
During the year donations from related parties totalled £44,260 (2024:£7,350) .
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PIMLICO OPERA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
15. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Interest Receivable Increase in debtors (Decrease)/increase in creditors Net cash provided by operating activities 16. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 17. Analysis of changes in net debt Cash at bank and in hand Liquid investments |
At 1 August 2024 £ 206,477 254,433 460,910 |
Group 2025 £ 185,485 (12,089) (29,985) (72,976) 70,435 Group 2025 £ 543,435 543,435 Cash flows £ 336,958 (254,433) 82,525 |
Group 2024 £ 11,033 |
|---|---|---|---|
| (8,766) (39,925) 69,153 |
|||
| 31,495 | |||
| Group 2024 £ 206,477 |
|||
| 206,477 | |||
| At 31 July 2025 £ 543,435 - |
|||
| 543,435 |
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