REGISTERED COMPANY NUMBER.. 03402769 (England and Wales) REGISTERED CHARITY NUMBER: 1095069 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2022 FOR NEW CHAMBER OPERA Bronsens Chartered Cerbfied Accountants 6 Langdale Court wrtney Oxfordshire OX28 6FG
NEW CHAMBER OPERA CONTENTS OF ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Page Reference and Administrative Details Report of the Trustees Statsrnent of Financial Activities Balance Sheet Notes to the Financial Statsments 6 to 8 Detsiled Ststement of Financial Activ¥ties
NEWCHAMBER OPERA REFERENCE AND ADMINISTrATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2022 TRUSTEES Prof M J Burden Mr G Cooper COMPANY SECRETARY Ms C Athinson REGISTERED OFFICE 4 Mansfield Road Oxford OX13TA REGISTERED COMPANY NUMBER 03402769 (England and Wales) REGISTERED CHARtTY NUMBER 1095069 BANKERS HSBC 65 Commarket Street Oxford OX13HY Page 1
NEWCHAMBER OPERA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2022. The trustees have adopt the provisions of Accounting and Reporting by Chari(ies'. St8tement of Recommended Practice applicable to charities preparing their a¢¢ounls in accordan with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS 1021 leffectNe 1 January 20191. Background The Charity was founded in 2002 as a company limited by guarantse to prowde high qualty perfornian5 of work from the neglected Chamber 0ra repertoire. In 2002 il was thought desirable lo update its trust deed and register as a Charity which rf( did on 17th December 2002. The Charity has been run by tis two trustee5 and meetings held on a regular basis betsveen them. M. Burden has been responsible for looking after the Financial Administrion including the bookkeeping and the day to day nagernenL The Trustees, majoT policy decisions are made at Trustees meetings. The charty is staffed by volunlrs. Any new Trustee wll be mentored by the two trustees and prowded with the latest Annual Report and financial ststements of the Trust. The new Trustèe wll be verbally instruded on the Trust's administration, organisation, financial procedures and Trsk assessment. The new Trustee will be issued with Charity Commission leafiel CC318l or the latest update. OBJECMVES AND ACTlVtTIES Objectives and aims The object of New Chamber Opera is to provide high quality performances of works from negle¢led chamber oper8 pert0[re. The trustees, policy is lo ensure that this is done through recordings as well as perf0mlans, and they have a commf(ment to their singers whom they promote through a rec((al service. The charity is staffed by volunteers. Significant activities During the year 2021-2022, the Company staged a number of productTons plu5 enty-fOUr recitals. The Company's orchestra, founded to ensure that the high qualty of the 0ra produetions were maintained, also undertook a number of outside engagements and remains the UnNersty of Oxford's Earfy Music Ensemble in residence. New Chamber Opera is a rrmber of the Opera and Music Theatre Forum. Investrnent Policies The charty has no specnlc powers of investment and does not hold any investments. ACHIEVEMENT AND PERFORMANCE Charitable activities The normally high stsndard of production has been achieved once more thts year. The audpnces for the Sltmmer opera and the attendance at other events was excèllent. The company's policy of working with young singers during the University terms has produced some excellent resuf(s, and has given a number of singers a very good start to their careers. Public benefit The Trustees have referred to the guidelines contained in the CharFty Commission's general guidance on publie benefrt when rewewing their aim and objections and in planning the tUre activities. In partieul8r the Trustees ¢onsider how planned 8Ctivty will contribute lo the aims and objectwes they have sel. The achievement and performances of the charity are shown in this report and it stsles that the performances gNe the singers a very good start lo their careers. Volunteers are used lo help stage the perfomanS and they re1ve valuable experience and training from this Ljnder experienced and expert management guidance. The public gain great enjoymerst from the high standard of production and to have new edi(ions of old works being perfomied. Page 2
NEW CHAMBER OPERA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022 FINANCIAL REVIEW Reserves policy The trustees cary out regular reviews of the charity's activities and risks irjvolved al each meeting. This is for the purpose of planning for the future and assessing major risks to which the charty is exposed. The company is currently reliant on loans from New Collegè, Oxford not lo demand repayment rf there was a deficierbcy of a5sels. The charity would hope to have sufficient reserves to Gover administration costs and frJnding for the next performance. The trustees contsnue to seek sponsors lo cover the costs of these and to cover deficf( frjnding. The Iruslees have continued to meet the charty's liabilities since the Balance Sheet date. Financial position and funds available The gross income in the year from conrtS and tours continued to increase after the effect of the CoMd-19 pandemic to £41,258 12021.. £24,447). The charity reported an overall deficrf£ for the yeaT of £5,639 (2020-. surplus of £22,718). The Trustees are confident that sufficient funding will be avaitable for the next 12 months to Cover the costs of staging productions and perfomiances. FLrfuRE PLANS The trustees of New Chamber Opera wish lo achieve greater financial stability in future year5 through sponsorship and perf0mlan ticket sales. This will ensure that they can continue to expand the repertoire and bring to the audience new edKtions of old works. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by rts goveming document, a deed of trust, and constf(ules a limited company, limited by guarantee, as defined by the Companies Act 2006. This report has been prepared in accordance wth the special provisions of Part 15 of the Companies Act 2006 relating lo sm811 companies. Approved by order of the board of trustees on ...... ...... and signed on ils behaLf by.. rof M J Burde slee Page 3
NEW CHAM8EROPERA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022 31.7.22 Unrestricted fund 31.7.21 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 164 5,073 Charitable activities General 41,258 24,447 Total 41,422 29,520 EXPENDITURE ON Raising funds 36,352 4,168 Charrtable activities General 10,709 2.634 Total 47,061 6,802 NEf INCOMEI{EXPENDITURE) {5,6391 22,718 RECONCILIATION OF FUNDS Total funds brought forward 5,662 {17,0561 TOTAL FUNDS CARRIED FORWARD 23 5,662 The notes fomi part of these financial slalements Page 4
NEW CHAMBER OPERA BALANCE SHEET 31 JULY 2022 31.7.22 Unrestricted fund 31.7.21 Totsl funds Notes CURRENT ASSETS Cash at bank and in hand 14,754 20,467 CREDITORS Amounts falling dLze wf(hin one year 114,731) (14,8051 NET CURRENT ASSETS 23 5,662 TOTAL ASSETS LESS CURRENT LIABIUTIES 5,662 NET ASSETS 23 5,662 FUNDS unsti1Cted funds 23 5,662 TOTAL FUNDS 23 5,662 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022. The members have not required the company lo obtain an audit of ts financial statements for the year ended 31 Juty 2022 in accordance wf(h Section 476 of the Companies Art 2006. The trustees acknowledge their responsibilities for {al ensuring that the Gharitable company keeps accounting records that comply with Sections 386 and 387 of the Cornpaniès Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charf(able company as at the ènd of each financial year and of ils surplus or deficf( for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requiremen15 of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. {b) These financial stalernents have been prepared in accordan with the provisions applicable to charEtable companies subject to the small companies regime_ The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. rof M J Burden The notes fomi part ofthese financial statements Page 5
NEWCHAMBER OPERA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of the charrtable company, which is a public benefft enlty under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reportlng by Ch8r((ies.' Ststemenl of Recommended Practice applicable to charTties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102 The Financial Reporting Slaridard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been pPared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities On the Charity has enlidemenl lo the funds, it is probable that the in¢ome will be received and the amount can be measured reliably. Expènditure Liabilities are recognised as expendf(ure as soon as there is a legal or ¢onstructNe obligation committing the charty lo that expendrture, f( is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation can be measured reliabw. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to parbcular headings they have been allocated to activities on a basis consistent wl(h the use of resources. Taxation The charTty is exempt from corwratson tax on rts charilablg activits"es. Fund accounting unstriCted funds can be used in accordanee WTth the charitable objectwes at the discretion of the trustees. Reslricled funds can only be used for p8rticular $tricted putposes ¥Mthin the objects of the charity. Restrictions arise when speefied by the donor or when funds are raised for particular restricted purposes. Further explan*ion of the nature and PL(rpose of each fund i8 included in the notes to the financial slatgmenls. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefts for the year ended 31 July 2022 nor for the year ended 31 July 2021. Trnstees. expenses There were no trustees. expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021. Page 6 continued..
NEW CHAMBER OPERA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022 CREDITORS: AMOUNTS FALLING DUE WH1N ONE YEAR 31.7.22 31.7.21 Other credf(ors 14,731 14,805 MOVEMENT IN FUNDS Net movement in funds At 31.7.22 At 1.8.21 Unrestricted funds General fund 5.662 15,6391 23 TOTAL FUNDS 5.662 15,6391 23 Nel movement in ftjnds, induded in thè above are as folbws.. Incoming resources Resources expended Movement in funds Unrestricted funds General fun(J 41,422 {47,0611 15,8391 TOTAL FUNDS 41,422 (47,0611 15,639) Comparatives for movgmant in funds Net movement in funds At 31.7.21 At 1.8.20 UnStricted funds General fund 117,056) 22,718 5.662 TOTAL FUNDS 117,056) 22,718 5,862 ComparatNe net movement in funds, included in the abgve are as follows: Incoming resour¢g$ Resources expended Movement in funds Unrestricted funds General fund 29,520 {6,8021 22,718 TOTAL FUNDS 29,520 {6,8021 22,718 Page 7 continued...
NEW CHAMBER OPERA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022 MOVEMENT IN FUNDS- continued A cutrenl year 12 months and prior year 12 months combined position is as follows. Net movement in funds At 31.7.22 At 1.8.20 Unrestricted funds General fund 117,0551 17,079 23 TOTAL FUNDS 117.0561 17,079 23 A current year 12 months and prior year 12 months combined net movement in funds, indudèd in the above are as follows". Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 70,942 153,8631 17,079 TOTAL FUNDS 70,942 153.8631 17,079 RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 July 2022. Page 8
NEW CHAMBER OPERA DETASLED STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 JULY 2022 31.7.22 31.7.21 INCOME AND ENDOVIMENTS Donations and legacies Donations 164 5,073 Charitable activities Concert and tour income 41,258 24,447 Total incoming resources 41,422 29,520 EXPENDITURE Raising donations and legacie5 Fees and expenses Costumes Stsge and lighting Hire and licen fees 32,871 462 274 2,745 4,188 36,352 4,168 Supportcosts Finance Bank charges 24 Govemance costs Insurance Sundries Accountsncy and legal fees Conferen¢e expenses Repetiluer Fund 616 695 1,423 8,269 298 2,018 10,685 2,634 Totsl resour expended 47,061 6,802 Net lexpenditureifincome 15,6391 22.718 This page does not fom part of the statutory fin8n¢ial slalements Page 9