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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Charity, Its Trustees and advisers||
|Trustees'
report|||2-18|
|Independent
auditors'|report|on the financial statements|19-22|
|Statement offinancial|activities||23|
|Balance sheet|||24-25|
|Statement
ofcash flows|||26|
|Notes to the financial|statements||27-41|
##
|Trustees||||||||
|---|---|---|---|---|---|---|---|
||||R Bernays|||||
||||D C Firth|||||
||||E M BGraham|||||
||||L M R Graham|||||
||||M Graham|||||
||||J P R Green|||||
||||A J Mackesy|||||
||||B G Muirhead||(resigned||31 August 2021)|
||||A Clinton
(appointed|||8|October 2020)|
|Company|registered|||||||
|number|||04119186|||||
|Charity registered||||||||
|number|||1087303|||||
|Registered||off)ce|New Banks Fee|||||
||||Longborough|||||
||||Moreton
in Marsh|||||
||||Gloucestershire|||||
||||GL56 OQF|||||
|Company|secretary||E M BGraham|||||
|Independent||auditors|WR Partners|||||
||||Belmont House|||||
||||Shrewsbury|Business||Park||
||||Shrewbsury|||||
||||SY2 6LG|||||
|Solicitors|||Taylor Vinters|||||
||||Merlin Place|||||
||||Milton Road|||||
||||Cambridge|||||
||||CB4 ODP|||||
|Senior Management|||Jennifer Smith,||Executive Director|||
|Team|||Polly Graham,||Artistic Director|||
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||||Unrestricted|Restricted|Total|Toia/|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2021
6|2021
F|2021
6|2020f|
|Income from:|||||||
|Donations
and legacies||4|820,993|87,723|908,716|1,214,061|
|Charitable
activities||5|602,071|1,850|603,921|27,411|
|Other trading
activities||6|114,067||114,057|660|
|Other income||7|160,977||160,977|8,340|
|Total income|||1,698,098|89,573|1,687,671|1,250,472|
|Expenditure
on:|||||||
|Charitable
activities|||1,809,064|167,650|1,966,714|795,730|
|Other expenditure||9|59,064||59,064|81|
|Total expenditure|||1,868,118|167,660|2,025,768|795,811|
|Net movement
ln funds|||(270,020)|(68,077)|(338,097)|454,661|
|Reconciliation
offunds:|||||||
|Total funds
brought|forward||1,276,734|68,077|1,344,811|890,150|
|Net movement
in funds|||(270,020)|(68,077)|(338,097)|454,661|
|Total funds carried forward|||1,006,714||1,006,714|1,344,811|
##
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##
|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||6||L|
|Fixed assets|||||||
|Tangible assets||12||6,166||11,680|
|||||6,166||11,680|
|Current assets|||||||
|Stocks||13|1,740||3,480||
|Debtors||14|223,468||32,594||
|Cash at bank and in hand|||900,698||1,422,562||
||||1,126,906||1,458,636||
|Creditors: amounts|falling due within one||||||
|year||15|(109,670)||(103,005)||
|Net current assets||||1,016,236||1,355,631|
|Total assets less current liabilities||||1,021,402||1,367,311|
|Creditors: amounts|falling due after more||||||
|than one year||16||(14,688)||(22,500)|
|Net assets||||1,006,714||1,344,811|
|Total net assets||||1,006,714||1,344,811|
||Note|2021|2020f|
|---|---|---|---|
|Charity funds||||
|Restricted funds|17||68,077|
|Unrestricted
funds|17|1,006,714|1,276,734|
|Total funda||1,006,714|1,344,811|
##
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##
||||||2021|2020|
|---|---|---|---|---|---|---|
|||||Note|6|6|
|Cash flows from operating|activities||||||
|Net cash provided
by operating
activities||||19|(622,046)|518,873|
|Cash flows from investing|activities||||||
|Dividends,
interests
and rents from investments|||||181|1,308|
|Net cash provided
by investing
activities|||||181|1,308|
|Change
In cash and cash|equivalents|in|the year||(621,864)|620,181|
|Cash and cash equivalents|at the beginning||ofthe year||1,422,662|902,38f|
|Cash and cash equivalents|at the end|of|the year|20|900,698|1,422,562|
|The notes on pages 27 to 41 form part ofthese financial statements|||||||
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||Unrestricted|Restricted|Total|Tots/|
|---|---|---|---|---|
||funds|funds|funds|funds|
||2021|2021|2021|2020|
||6|6|6||
|Membership|506,955||506,955|543,255|
|Donations|188,931|87,723|276,654|109,939|
|Gift Aid|125,107||125,107|220,471|
|2020 Fund||||340,395|
||820,993|87,723|908,716|/,214,061|
##
|||Unrestricted|Restricted|Total|To/a/|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2021|2021|2021|2020|
|||6|6|6|5|
|Ticket sales/vouchers||465,138||466,138|3,508|
|Programme|sales|8,895||8,895||
|Other income||27,038|1,850|28,888|23,903|
|||502,071|1,850|503,921|27,411|
##
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021|2021
E|2020f|
|Catering|108,377|108,377||
|Advertising|5,680|e,eeo|660|
||114,057|114,057|660|
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
||||E||
|TTR relief||155,690|15e,ego||
|Interest income||161|181|f,308|
|Furlough|income|5,106|5,106|7,032|
|||160,977|160,977|8,340|
##
|||Activities||||
|---|---|---|---|---|---|
|||undertaken|Support|Total|Total|
|||directly|costs|funds|funds|
|||2021|2021|2021|2020|
|||F|E|F||
|Charitable|activities|1,394,465|487,491|1,881,956|795,730|
|Education|6 outreach|69,650|15,108|84,758||
|||1,464,115|502,599|1,966,714|795,730|
##
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##
||||Opera|Education|&|Total|Total|
|---|---|---|---|---|---|---|---|
||||Productions|Outreach||funds|funds|
||||2021
5|2021
E||2021
E|2020f|
|Opera production|||584,846|69,650||ee4,49e|72,227|
|Production|team and|labour|137,479|||137,479|62,006|
|Equipment|hire and transport||65,791|||65,791|1,778|
|Backstage|expenses|and sundries|85,397|||85,397|9,461|
|Site hires|and marquees||317,401|||317,401|8,948|
|Site and theatre costs|||57,514|||67,614|26,091|
|Irrecoverable
VAT|||58,165|||se,tee|30,428|
|Artist ex-gratia payments|||87,872|||87,872|168,504|
||||1,394,465|69,650||1,464,115|379,443|
##
|||||Opera|Education|&|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||||Productions|Outreach||funds|funds|
|||||2021|2021||2021|2020|
|||||E||5|6|5|
|Staff costs||||196,172|15,108||211,280|166,841|
|Depreciation||||9,654|||9,654|11,448|
|Marketing|and|print||28,450|||28,450|27,503|
|Office costs and overheads||||43,898|||43,898|46,821|
|Legal, professional|||and accountancy|99,727|||99,727|74,734|
|Education||||51,005|||51,005|41,908|
|Boxoffice|and|website||32,178|||32,178|33,416|
|Irrecoverable||VAT||24,928|||24,928|12,857|
|Miscellaneous||||1,479|||1,479|759|
|||||487,491|15,108||602,599|416,287|
##
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##
|||||2021|2020f|
|---|---|---|---|---|---|
|Wages and|salaries|||191,103|151,989|
|Social security costs||||13,625|9,536|
|Contribution|to defined|contribution|pension schemes|6,552|5,316|
|||||211,280|166,841|
|2021|2020|
|---|---|
|No.|No.|
|Administration|and|Support|
|---|---|---|
|Management|||
##
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##
|||Fixtures and|Computer||
|---|---|---|---|---|
|||fittings|equipment|Total|
|||6||f.|
||Cost or valuation||||
||At 1 September 2020|46,792||45,792|
||Additions||3,342|3,342|
||At 31 August 2021|45,792|3,342|49,134|
||Depreciation||||
||At 1 September 2020|34,112||34,112|
||Charge for the year|9,647|209|9,866|
||At 31August 2021|43,759|209|43,968|
||Net book value||||
||At 31 August 2021|2,033|3,133|5,166|
||At 31August 2020|11,680||11,680|
|13.|Stocks||||
||||2021f|2020f|
||Bar Stock||1,740|3,480|
##
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|||2021
f.|2020f|
|---|---|---|---|
|Due within one year||||
|Trade debtors||225||
|Other debtors||190,523|8,484|
|Prepayments|and accrued income|32,720|24,110|
|||223,468|32,594|
##
||||||2021f|2020f|
|---|---|---|---|---|---|---|
|Trade creditors|||||4,011|19,374|
|Other taxation||and|social security||6,761|5,050|
|Other creditors|||||11,838|11,976|
|Accruals|||||17,243|26,895|
|Deferred|income||||69,817|39,710|
||||||109,670|103,005|
||||||2021f|2020|
|Deferred|income at start of period||||39,710|101,531|
|Resources deferred|||during the year||69,817|39,710|
|Amounts|released||from previous|periods|(39,710)|(101,631)|
||||||69,817|39,710|
##
|||2021f|2020f|
|---|---|---|---|
|Deferred|income|14,688|22,500|
##
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##
|Statement
of funds|- current|year|||||
|---|---|---|---|---|---|---|
|||Balance at 1||||Balance at|
|||September|||Transfers|31 August|
|||2020
6|Income|Expendituref|in/out
6|2021
6|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Operational
Contingency|||||||
|Reserve||450,000|||(60,000)|400,000|
|Capital Reserve||300,000||||300,000|
|2020 Fund||144,886||(88,172)|(56,714)||
|Ring Cycle 2024||220,000|||80,000|300,000|
|||1,114,886||(88,172)|(26,714)|1,000,000|
|General funds|||||||
|General Funds||161,848|1,598,098|(1,779,946)|26,714|6,714|
|Total Unrestricted|funds|1,276,734|1,598,098|(1,868,118)||1,006,714|
|Restricted funds|||||||
|Pot of Gold Donations||9,533|8,215|(17,748)|||
|Education
Workshops||23,826|45,443|(69,269)|||
|Emerging
Artist Programme||20,898|21,416|(42,313)|||
|Orchestra
Sponsorship||7,000|3,000|(10,000)|||
|Youth Chorus||6,820|10,000|(16,820)|||
|Walk ure|||1,000|(1,000)|||
|Ulysses|||500|(500)|||
|||68,077|89,573|(157,660)|||
|Total offunds||1,344,811|1,687,671|(2,025,768)||1,006,714|
##
##
|Statement offunds|- prior ye|ar|||||
|---|---|---|---|---|---|---|
|||Balance at||||Balance at|
|||1 September|||Transfers|31August|
|||2019f|Income
f|Expenditure
5|81/out
f|2020
f|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Operational
Contingency|||||||
|Reserve||300,000|||150,000|450,000|
|Capital Reserve||300,000||||300,000|
|2020 Fund|||415,362|(184,576)|(85,900)|144,886|
|Ring Cycle 2024|||||220,000|220,000|
|||600,000|415,362|(184,576)|284,100|1,114,886|
|General funds|||||||
|General Funds||90,150|753,377|(597,579)|(84,100)|161,848|
|Ring Cycle||200,000|||(200,000)||
|||290,150|753,377|(597,579)|(284,100)|161,848|
|Total Unrestricted|funds|890,150|1,168,739|(782,155)||1,276,734|
|Restricted funds|||||||
|Pot of Gold Donations|||9,533|||9,533|
|Education Workshops|||27,482|(3,656)||23,826|
|Emerging
Artist Programme|||20,898|||20,898|
|Orchestra
Sponsorship|||7,000|||7,000|
|Youth Chorus|||16,820|(10,000)||6,820|
||||81,733|(13,656)||68,077|
|Total offunds||890,150|1,250,472|(795,811)||1,344,811|
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|18.|Analysis
of net assets between|Analysis
of net assets between|Analysis
of net assets between|Analysis
of net assets between|funds (continued)|funds (continued)||||
|---|---|---|---|---|---|---|---|---|---|
||Analysis
of net assets between||||funds - prior year|||||
||||||||Unrestricted|Restricted|Total|
||||||||funds|funds|funds|
||||||||2020|2020f|2020
2|
||Tangible
fixed assets||||||11,680||11,680|
||Current assets||||||1,390,559|68,077|1,458,636|
||Creditors
due within|one year|||||(103,005)||(103,005)|
||Creditors
due in more||than one year||||(22,500)||(22,500)|
||Total||||||1,276, 734|68,077|1,344,811|
|19.|Reconciliation
of net||movement||in funds|to net cash flow from operating||activities||
|||||||||2021|2020|
||||||||||6|
||Net income/expenditure||for the year (as per|||Statement|of Financial|||
||Activities)|||||||(338,097)|454,661|
||Adjustments
for:|||||||||
||Depreciation
charges|||||||9,856|13,226|
||Purchase
oftangible|fixed assets||||||(3,342)||
||Decrease/(increase)|in stocks||||||1,740|(3,480)|
||Decrease/(increase)|in debtors||||||(166,865)|137,837|
||Decrease
in creditors|||||||(25,156)|(82,063)|
||Interest received|||||||(181)|(1,308)|
||Net cash provided|by/(used||in)|operating|activities||(522,045)|518,873|
|20.|Analysis
ofcash and||cash equivalents|||||||
|||||||||2021|2020|
|||||||||6||
||Cash
in hand|||||||900,698|1,422,562|
||Total cash and cash||equivalents|||||900,698|1,422,562|
##
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|||||||At 1|||
|---|---|---|---|---|---|---|---|---|
|||||||September||At 31|
|||||||2020|Cash flows
f.|August 2021
f|
|||||||F|||
|Cash|at|bank|and|in|hand|1,422,662|(521,864)|900,698|
|||||||1,422,662|(621,864)|900,698|
##
##
||||2021f|2020f|
|---|---|---|---|---|
|Not later than||1 year|669|849|
|Later than|1 year and not later than 5years||669|1,338|
||||1,338|2,187|
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