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← Carmarthen And District Youth Opera

2025-05-31-accounts

Charity registration number 1024723 (England and Wales)

Company registration number 02820709

CARMARTHEN AND DISTRICT YOUTH OPERA Annual report and unaudited financial statements

For the year ended 31 May 2025

CARMARTHEN AND DISTRICT YOUTH OPERA

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr M Rogers Mrs H Hughes Mr W Davies Mrs S Rowlands Miss H J Thorogood Mrs R P Lewis

Secretary

Mrs H M Hughes

Charity number (England and Wales) 1024723

Company number 02820709

Registered office

Tremle Idole Carmarthen Carmarthenshire SA32 8DG

, CARMARTHEN AND DISTRICT YOUTH OPERA

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CONTENTS

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Page
Trustees' report 1-3
StatementofTrustees' responsibilities 4
Independent examiner's report 5
Statement offinancial activities 6
Balance sheet 7-8
Notestothefinancialstatements 9-18

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CARMARTHEN AND DISTRICT YOUTH OPERA

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MAY 2025

The Trustees present their report and accounts for the year ended 31 May 2025.

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

Objectives and activities

The company's objects are to promote, maintain, improve and advance education particularly by the encouragement of the art of music and other arts and to the presentation of the performances with an educational and charitable purpose. The organisation adopts policies which ensure it actively pursues any other charitable activity which can usefully be undertaken in support of these objects and there has been no change in these during the year.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.

The Charity organised a production of "Charlie and the Chocolate Factory" during the year.

Achievements and performance

Since 1979 the Company has grown and it has developed an outstanding reputation for the quality of its productions. It has provided opportunities for hundreds of young children to excel in an inclusive environment developing skills such as motivation, commitment, self confidence and discipline. The Company has performed at the Waterford Musical Festival, the Buxton Festival and at a Gala supporting performance at the London Palladium. It is proud to be one of the most highly regarded cultural youth organisations in Wales.

Financial review

The Charity made a loss before grants and donations of circa £20,000 on the production of "Charlie and the Chocolate Factory". The Trustees are aware of the sensitivity grant funding has to the continuity of future productions.

It is the policy of the company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least 12 months of operations, excluding grant funding and sponsorships donated for the main production, which ensures it should be able to continue 12 months while consideration is given to ways in which additional funds may be raised.

The Trustees have assessed the major risks to which the company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The company is a company limited by guarantee. The Board of trustees together with eighty or so volunteers manage the operations and development of the organisation.

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CARMARTHEN AND DISTRICT YOUTH OPERA

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2025

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

Mr M Rogers Mrs H Hughes Mr W Davies Mrs S Rowlands Miss H J Thorogood Mrs R P Lewis

The Board of trustees approach existing volunteers who have shown an interest in becoming a trustee. Individuals are invited to a meeting to discuss their skills. The board subsequently decides if their attributes will add value to the management and development of the association. None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU). The company's current policy concerning the payment of trade creditors is to: * settle the terms of payment with suppliers when agreeing the terms of each transaction; * ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and * pay in accordance with the company's contractual and other legal obligations. Trade creditors at the end of the year are - accountancy services £672.00 bank charges £5.80 and stage manager services £250.00. The Board meets on a regular basis (at least every 2 months). Each trustee has a specific role and will often work with a sub committee of volunteers.

There are no relevant related parties.

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CARMARTHEN AND DISTRICT YOUTH OPERA

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

On behalf of the board of Trustees

WU. Do flmgre Mr Mfe ¢ Date: 30K Noveuker slook o-

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, CARMARTHEN AND DISTRICT YOUTH OPERA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY2025

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The Trustees, who are also the directors of Carmarthen and District Youth Opera for the purpose of company law, 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).

Company law 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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CARMARTHEN AND DISTRICT YOUTH OPERA

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CARMARTHEN AND DISTRICT YOUTH OPERA

I report to the Trustees on my examination of the financial statements of Carmarthen and District Youth Opera (the company) for the year ended 31 May 2025.

Responsibilities and basis of report

As the Trustees of the company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 that in any material respect:

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 financial statements to be reached.

5 August 2025

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~ CARMARTHEN AND DISTRICT YOUTH OPERA

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

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Unrestricted Restricted TotalUnrestricted Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donationsand legacies 3 26,915 500 27,415 30,247 - 30,247
Charitable activities
Investments		 4
5		 55,336
3,310		 -
-		 55,336
3,310		 33,529
2,609		 -
-		 33,529
2,609
Total income 85,561 500 86,061 66,385 - 66,385
Expenditure on:
Raising funds 6 6,584 - 6,584 4,869 - 4,869
Charitable activities 7 75,819 - 75,819 53,807 - 53,807
Other 11 4,555 - 4,555 3,891 - 3,891
Total resources expended 86,958 - 86,958 62,567 - 62,567
Net (expenditure)/income for
theyear/
Netmovementin funds (1,397) 500 (897) 3,818 - 3,818
Fund balances at 1 June
2024 146,221 20 146,241 142,403 20 142,423
Fund balances at 31 May
2025 144,824 520 145,344 146,221 20 146,241

The statement of financial activities includes all gains and losses recognised in the year.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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CARMARTHEN AND DISTRICT YOUTH OPERA

BALANCE SHEET

AS AT 31 MAY 2025

2025 2024
Notes £ £ £ £
Fixed assets
Intangible assets 13 - 161
Tangible assets 14 1,097 1,403
1,097 1,564
Current assets
Debtors 15 - 6,906
Cash at bank and in hand 145,175 138,724
145,175 145,630
Creditors: amounts falling due
within oneyear 16 (928) (953)
Net current assets 144,247 144,677
Total assets less current liabilities 145,344 146,241
Income funds
Restricted funds 17 520 20
Unrestricted funds 144,824 146,221
145,344 146,241

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CARMARTHEN AND DISTRICT YOUTH OPERA

BALANCE SHEET (CONTINUED)

AS AT 31 MAY2025

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2025.

The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the Trustees on 30k Noy[enh][Laks.]

Mr M Rogers

Trustee

Company Registration No. 02820709

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY2025

Charity information

Carmarthen and District Youth Opera is a private company limited by guarantee incorporated in England and Wales. The registered office is Tremle, Idole, Carmarthen, Carmarthenshire, SA32 8DG.

The financial statements have been prepared in accordance with the company's [books and records], the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The company is a Public Benefit Entity as defined by FRS 102.

The company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. £20 was held at the start of the year for the purpose of helping potential members who may be unable to pay membership subscriptions due to financial hardship. A further £500 was received in the year. Therefore restricted funds at the year end totalled £520.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.

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: CARMARTHEN AND DISTRICT YOUTH OPERA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2025

1 Accounting policies

(Continued)

1.4 Incoming resources

Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website

20% ona Straight Line basis

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY2025

1 Accounting policies

(Continued)

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost.

Plant and machinery

10% on a Straight Line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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8585858588885

; CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2025 Ceeee ee eee eee 1 Accounting policies (Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2 Critical accounting estimates and judgements

In the application of the company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted TotalUnrestricted Unrestricted
funds funds funds
2025 2025 2025 2024
£ £ £ £
Donationsand gifts 18,940 500 19,440 24,072
Membershipfees 7,975 - 7,975 6,175

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

4 Income from charitable activities

Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income analysis
Sales within charitable activities 1,558 1,511
Ancillary trading income 53,778 32,018
55,336 33,529
5 Investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 3,310 2,609
6 ~= Raisingfunds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising trading
Othertrading activities 6,584 4,869
6,584 4,869

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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7 Charitable activities

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|||||||| |---|---|---|---|---|---|---| |Depreciation|Depreciation| |Charge|forCharge|for the| |the Year|Year| |2025|2024| |£|£| |Depreciation|and|impairment|306|306| |Show Expenses|75,513|53,501| |75,819|53,807| |75,819|53,807| |8|Net movement|in|funds|2025|2024| |£|£| |The net movement|in|funds|is|stated|after charging/(crediting):| |Depreciation|of owned|tangible|fixed|assets|306|306| |Amortisation|of intangible|assets|161|160|

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9 Trustees

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

10 Employees

The average monthly number ofemployees during the year was:

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||||| |---|---|---|---| |2025|2024| |Number|Number| |Total|-|-| |There were no employees|whose|annual remuneration was more than|£60,000.|

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

11 Other

2025 2024
£ £
GeneralExpenses 4,555 3,891
4,555 3,891

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13. Intangible fixed assets

Intangible fixed assets
Website
£
Cost
At 1 June 2024 and 31 May 2025 801
Amortisation and impairment
At 1 June 2024 640
Amortisation charged forthe year 161
At 31 May 2025 801
Carrying amount
At 31 May 2025 -
At31May2024 161

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY2025

ees

14 Tangible fixed assets

14 Tangible fixed assets
Plantand
machinery
£
Cost
At 1 June2024 9,802
At 31 May2025 9,802
Depreciation and impairment
At 1 June2024 8,399
Depreciation charged inthe year 306
At 31 May2025 8,705
Carryingamount
At 31 May2025 1,097
At 31 May2024 1,403
15 Debtors
2025 2024
Amounts falling due within oneyear: £ £
Trade debtors - 3,000
Prepaymentsand accrued income - 3,906
- 6,906
16 Creditors: amounts fallingduewithin oneyear
2025 2024
£ £
Tradecreditors 928 953

£928 represents accountancy fees, bank charges and services of a stage manager.

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

17_ Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

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AtiJune Incoming At31 May
2024 ~— resources 2025
£ £ £
20 500 520
Previous year: Atl June Incoming At31 May
2023 ~_—sresources 2024
£ £ £
20 - 20
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18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Ati June Incoming Resources At31 May
2024 resources expended 2025
£ £ £ £
General funds 146,221 85,561 (86,958) 144,824
Previousyear: Ati June Incoming Resources At31 May
2023. ~=sresources expended 2024
£ £ £ £
Generalfunds 142,403 66,385 (62,567) 146,221

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CARMARTHEN AND DISTRICT YOUTH OPERA

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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19 Analysis ofnet assets between funds assets between funds
Unrestricted funds Restricted TotalUnrestricted Unrestricted Restricted Total
funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Fund
balances at
31 May
2025 are
represented
by:
Intangible fixed
assets - - - 161 - 161
Tangible assets 1,097 - 1,097 1,403 - 1,403
Current assets/
(liabilities) 143,727 520 144,247 144,657 20 144,677
144,824 520 145,344 146,221 20 146,241

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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