REGISTERED COMPANY NUMBER: 03402769 (England and Wales) REGISTERED CHARITY NUMBER: 1095069 REPORT OF THE TRUSTEES AND UNAUDITEO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 FOR NEW CHAMBER OPERA Bronsens Chartered Certified Accountants Eden House Two Rivers Business Park Wrtney Oxfordshire OX28 48L *AE4DIAFE* 0910612025 COMPANIES HOUSE A9 #70 NEW CHAMBER OPERA CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Page Reference and Administrative Detalls Report of the Trustee$ 2 to 3 Independent Examlnerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnancial Stslements Dotslled Statement of Financlal Activities 10 NEW CHAMBER OPERA REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2024 TRUSTEES Prof M J Burden Mr G Cooper COMPANY SECRETARY Ms C Atkinson REGISTERED OFFICE 4 Mansfield Road Oxford OX13TA REGISTERED COMPAI4Y NUMBER 03402769 (England and Wales) REGISTERED CHARITY NUMBER 1095069 INDEPENDENT EXAMINER Bronsens Chartered Certified Accountsnts Eden House Two Rivers Business Park Wilney Oxfordshire OX28 4BL BANKERS HSBC 65 Cornfnarket Street Oylord OX13HY Page 1 NEW CHAMBER OPERA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the chanty for the year ended 31 July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. Background The Charity was founded in 2002 as a company limited by guarantee to provide high quality performances of work from the ne9lected Chamber Opera repertoire. In 2002 it was thought desirable to update ts tnjst deed and register as a Charity which it did on 17th December 2002. The Charity has been run by its trustees and meetings held on a regular basis be￿n them. M. Burden has been responsible for looking after the Financtal Administration including the bookkeeping and the day to day management. The Tnjstees, major policy decisions are made at Trustees meetings. The charity is slaffed by volunteers. Any new Trustee will be mentored by the trustees and provided with the latest Annual Report and financtal statements of the Trust. The new Trustee will be verbally instructed on the Trust's administration, organisalion. financlal procedures and risk assessment. Th8 new Trustee will b8 issued with Chanty Commission ledet CC3{a) or the latest update. OBJECTIVES AND ACTivrriES Objectives and aims The object of New Chamber Opera is to promde high qualty performances of works from neglected chamber opera (epertoire. The trustees, policy is lo ensure that this is done through recordings as well as perfomiances, and they have a commitment to their singers whom they promote through a recital setvi¢e. The charty is staffed by volunteers. Significant activities During the year 2023-2024, the Company staged a number of productions plus ￿enty-fOUr recitals. The Company's orchestra, founded to ensure that the high quality of the opera prcéuctions wefe maintained, also undertook a number of outside engagements and remains the Universty of Oxford's Early Music Ensemble in residence. New Chamber Opera is a member of the Opera and Music Theatre Forum. Investment PollcSes The charty has no specffj￿ powers of investment and does not hold any investrnents. ACHIEVEMENT AND PERFORf¥lANCE Charitable activities The normally high standard of production has been achieved once more this year, The audiences for the summer opera and the attendance al other events was excellent. The company's policy of Working with young singers during the University terms has produced some excellent results, and has giv&n a number of singers a very good start to their career5. Public benefit The Trustees have referred to the guidelines contsined in the Charity Commission's general guidance on public benefft when reviewing their aim and objections and in planning the future activities. In particular the Trustees consider how planned a￿1Vity will contribute to the aims and objeclives they have sel. The achievement and performances of the charity are shown in this ￿port and it states that the perfom)ances give the singers a very good start to their careers. Volunteers are used lo help stage the perfomiances and they receive valuable experien￿ and training from this under experienced and expert management guidance. The public gain great enjoyment from the high standard of production and to have new edrtions of old works being performed. Page 2 NEW CHAMBER OPERA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024 FINANCIAL REVIEW Reserves policy The trustees carry out regular reviews of the charity's activities and risks involved at each meeting. This 15 for the purpose of planning for the future and assessing major risks to which the charity 15 exposed. The chartty would hope to have Sufficient reserves to cover administration costs and funding for the next perfonTrance. The trustees continue to seek sponsors to cover the costs of these and to cover deficit funding. The trustees have continued lo meet the charity's liabilities since the Balance Sheet dale. Financial position and funds available The gross income in the year from donations. concerts and tours was £42,57512023'. £41,911. The Charty reported an overall deficit for the year of £4,058 (2023: surplus of £10,017). The Trustees a￿ confident that sufficient funding will be available for the next 12 months to cover the costs of staging productions and perfo￿nanCeS. FUTURE PL4NS The trustees of New Chamber Opera wish to achieve greater financial stabilty in fijturè years through sponsorship and perfomance ticket sal85. This will ensure that they can continue to expand the repertoire and bring to the audience new editions of old works. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by rts governing document, a deed of trust, and constitutes a limited ¢ornpany, limrted by guarantee. as defined by the Comp8nie8 Act 2006.. This ￿pOrt has been prepared in accordance with ihe special provisions of Part 15 of the Companies Act 2006 relating lo small companiès. Approved by order of the board of trustees on ... ..... ... 20..2)-. . and signed on its behalf by.. rof M J Burden- Tr Page 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW CHAMBER OPERA Independent examinerfs report to the trustees of New Chamber Opera {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2024. Responsibilities and basls of report As the charity's trustees of the Company {an(J also its directors for Ihe purposes of company law) you are responsible for Ihe preparation of the accounts in accordan￿ with Ihe requirements of the Companies Act 2006 (Ihe 2006 Act'}. Having satisfied myself thal the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 Ilhe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145{5} (b) of the 2011 Ad. Indep?nd8nt examlnerfs statement I have completed my examination. I confirm that no matters have come'to my attenb'on in connection with the examination giving me Cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do nol accord with those records., or the accounts do not comply wtih the accounting requirements of Section 396 of the 2006 Aci other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independènt examination., or the accounts have not been prepared in accordance with the methods and principles of Ihe Statement of Recommendeé Practice for accounting and repcsrting by charities (aPpl￿ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come 8cross no other matters in ¢onne¢lion with the examination to which attention should be drawn in this report in order lo enable 8 proper underslanoing of the accounls to be reached. Philip J Burton Bronsens Chartered Certified Accountants Eden House Two Rivers 8usiness Pa Wilney O>fordshire OX28 48L S Jw202f Page 4 NEW CHAMBER OPERA STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 31.7.24 Unrestricted fund 31.7.23 Total fijnds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6,111 178 Charitsble activities General 36,464 41,733 Total 42,575 41,911 EXPENDITURE ON Raising fvnds 41,901 28,029 Charitable actlvities General 4.732 3.865 Total 46,633 31,894 NET INCOMEIIEXPENDITURE) {4,058) 10,017 RECONCILIATION OF FUNDS Totsl funds brought forward 10,040 23 TOTAL FUNDS CARRIED FORWARD 5.982 10,040 The notes form part of these financial statements Page 5 NEW CHAMBER OPERA BALANCE SHEET 31 JULY 2024 31.7.24 Unrestricted fund 31.7.23 Total funds N¢)tes CURRENT ASSETS Cash at bank and in hand 16,151 26,031 CREDITORS Amounts falling due within one year (10,1691 (15,991} NET CURRENT ASSETS 5.982 10,040 TOTAL ASSETS LESS CURRENT LIABILITIES 5,982 10,040 NET ASSETS 5,982 10,040 FUNDS Unrestricted funds 5,982 10,040 TOTAL FUNDS 5,982 10,040 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 lor Ihe year ended 31 July 2024. The members have not required the company to oblain an audit of ils financial stalements for the year ended 31 July 2024 in accordance with Sedion 476 of the Companies Act 2006. The trustees acknowledge Ihelr responsibilities for la} ensuring that the charrtable company keeps ac¢ounting records that compty with Sectlons 386 arKI 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable ompany as at the end of each financial year and of its surplus or deficit for each financial year in a¢cordance with the requirements of Sections"394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relaling to financial statements, so far 8$ applicable to the charitable company. {b> These financlal statements have been prepared in accordan￿ with the provisions applicable lo charitable companies subject to the small companies regime. The ancial statements were approved by the Board of Trustees and authorised for issue on ..io&'r..... and were signed on ts behalf:by.' Prof M J Burden - Trustee The notes fom part of these financial statements Page 6 NEW CHAMBER OPERA NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES Basis of preparing the financial slatements The financial statements of the charitable company, which is a public benefrt 8ntity under FRS 102. have been prepared in accordan￿ with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities= Statement of Recornmended 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 20191,, Financial Reporting Standard 102 'The Financial Reporting Stsndafd applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entrtlement lo the funds, It Is probabl8 that the Income will be received and the amount can be measured reliably. Expenditure Liabilities a￿ recognised as expendilure as soon as there is a legal or constructive obligation committing the charity lo Ihat expenditure, it is probable Ihat a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measufed reliably. Expendrture is accounted for on an accruals basis and has been classffied under headings that aggregate all cost related to the category. whe￿ costs cannot be directly attfibuled to particular headings they have been allocated to activities on a basis consislenl with the use of resources. Taxation The charity is exempt from corporation tax on its Gharitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the tnjstees. Restricted funds can only be used for partirular restricted purposes within the objects of the charity. Restrictions arise when specrfied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial ststernents. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 July 2024 nor for the year ended 31 Juty 2023. Page 7 continued... NEW CHAMBER OPERA NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.24 31.7.23 Other creditors 10.169 1 S,991 MOVEMENT IN FUNDS Net movement in funds At 31.7.24 At 1.8.23 Unrestrfcted funds General fund 10,040 (4.058) 5,982 TOTAL FUNDS 10.040 (4.058) 5,982 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 42,575 146.633) (4,058) TOTAL FUNDS 42,575 {46,633) (4,0581 Comparatlves for movement In funds Net movement in fvnds At 31.7.23 At 1.8.22 Unrestricted funds General fund 23 10,017 10,040 TOTAL FUNDS 23 10,017 10,040 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 41,911 131,894) 10,017 TOTAL FUNDS 41,911 (31,894) 10.017 Page 8 continued... NEW CHAMBER OPERA NOTES TO THE FINANCIAL.STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024 RELATED PARTY DISCLOSURES There were no related paty transactions for thè year ended 31 July 2024. Page 9 NEW CHAMBER OPERA DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 31.7.24 31.7.23 INCOME AND ENDOWMENTS Donatlons and legacies Donations 6.111 178 Charitable activities Concert and tour income 36.464 41,733 Total incoming resources 42,575 41,911 EXPENDITURE Ralslng donatlons and legacies Fees and expenses Stage and lighting Hire and licence fees 38,146 519 3,236 24,719 273 3,037 41,901 28,029 Support costs Flnance Bank charges 81 Governance costs Insuran Sundries Accountancy and legal fees 1,351 1,917 1,378 1,246 1,278 1,260 4,646 3,784, Total resources expended 46.633 31,894 Net (expenditure}fincome {4,0581 10,017 This page does not fom part of the statutory financial statements Page 10