Registered number: 05170704 Charity number: 1105318
DORSET OPERA
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND STATUTORY ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
DORSET OPERA
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and Advisers | 1 |
| Trustees' report | 2 - 11 |
| Independent examiner's report | 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 |
| Notes to the statutory accounts | 15 - 22 |
DORSET OPERA
(A company limited by guarantee)
COMPANY INFORMATION FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Directors/Trustees | Mr G P Batt (Chairman) |
|---|---|
| Ms L Docherty (resigned 20 October 2021) | |
| Mr G C W Harvey | |
| Mr P M Jenner | |
| Mr R I M Kennedy | |
| Mrs J M Lang | |
| Mr S D Norman | |
| Mrs S M Selby Bennett | |
| President Emeritus | Dame Dione Digby |
| Vice Presidents | Mr & Mrs A du Boulay |
| Mr & Mrs A Frost | |
| Mr T Lee | |
| Mr N Mansfield | |
| Miss R A Miller | |
| Company registered number | 05170704 |
| Charity registered number | 1105318 |
| Registered office | Dorset Opera |
| Cheselbourne | |
| Dorchester | |
| Dorset | |
| DT2 7NP | |
| Accountants | Edwards & Keeping |
| Unity Chambers | |
| 34 High East Street | |
| Dorchester | |
| Dorset | |
| DT1 1HA | |
| Bankers | Lloyds Bank plc |
| High Street | |
| Gillingham | |
| Dorset | |
| SP8 4AQ | |
| Solicitors | Humphries Kirk LLP |
| 40 High West Street | |
| Dorchester | |
| Dorset | |
| DT1 1UR | |
| Website | www.dorsetopera.com |
Page 1
(A company limited by guarantee)
DORSET OPERA
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
The Trustees, who are also Directors of Dorset Opera for the purposes of company law, present their annual report together with the financial statements of the Charity for the year ended 30 September 2021.
FOREWORD
2021 and the Covid-19 Pandemic continues
We began the 2021 season with the announcement that we would present the operas we had been forced to cancel last year, namely Boris Godunov and La rondine . Yet again, with Covid raging, it soon became clear that if lockdown was to be lifted, it would still not permit us to welcome a chorus of 60 to 70 singers from around the world. The only way that a Festival could take place was if we created a bubble at Bryanston and involved much-reduced orchestral forces and a small chorus of elite emerging artists, all of whom could be distanced during rehearsal and performance if necessary. This enabled us to perform works associated with Mozart that Dorset Opera would never normally entertain – Don Giovanni, Cosi fan tutte and Acis and Galatea – and thus our first MozartFest came about.
1. REFERENCE and ADMINISTRATION
Dorset Opera is a registered company limited by guarantee (No 05170704) and a registered charity (No 1105318) governed by a constitution adopted on 28 June 2004.
The Trustees, who are also Directors for the purposes of company law, are set out in the table below and have all held office for the whole of the period from 1 October 2020 unless otherwise noted.
Mr G P Batt (Chairman) Ms L Docherty (Director, Outreach) (resigned 20 October 2021) Mr G C W Harvey (Marketing Director) Mr P M Jenner (Director, Finance) Mr R I M Kennedy (Artistic Director) Mrs J M Lang (Legal Duties) Mr S D Norman (Director, Charitable Trusts) Mrs S M Selby Bennett (Director, Operations)
Our extensive volunteer network provided valuable support during the period of the preparation for, and running of, the opera performances. Our Company Manager, Caroline D’Cruz, co-ordinates activities and schedules whilst we are on campus at Bryanston, as well as carrying out vital bookkeeping duties throughout the year. The Trustees are grateful for all their efforts.
2. OBJECTIVES and ACTIVITIES
Our mission
Our charitable objectives are:
"To promote, maintain, improve and advance the education of the public, especially young people, in opera, in particular but not exclusively by: organising Summer Schools and other activities for the benefit of aspiring singers, musicians and production and technical personnel based in Dorset and further afield; and presenting high quality opera productions involving, where possible, significant roles and opportunities for choristers."
Summary of Activity
Established in 1974, Dorset Opera is a pro-am company, based at Bryanston near Blandford Forum in Dorset. It has established a reputation for its large thrilling chorus famed for its ‘wall of sound’, combined with excellent professional principals of international renown, fine conducting and an orchestra of high quality, in a ‘Country House’ setting. Dorset Opera actively promotes young singers and a number of our alumni have gone on to greater things. All operas are sung in the original language where possible and surtitles are provided. Dorset
Page 2
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
Opera plays an ever-expanding and full a role as possible within its means and capabilities in the local community and in Dorset schools.
Aims and Objectives for 2021
We originally adopted the objectives set out in our 2020 Report, chiefly to mount three performances each of Puccini’s La rondine and Mussorgsky’s Boris Godunov , and to present another opera gala concert. The continuing Covid pandemic required us to revise our objectives, as explained in further detail below, resulting in the following updated set:
-
To mount four performances of Mozart’s Don Giovanni and three performances of his Cosi fan tutte
-
To present a single, semi-staged performance of Händel’s Acis and Galatea in the Mozart orchestration, instead of an opera gala concert
-
To partially address aspects of previous production underfunding, primarily for costumes, principals and an uplift in orchestra fees
-
To renew our partnership with the Guildhall School of Music & Drama and to audition and acquire wind, brass and percussion academy students to play in our orchestra
-
To further develop our partnership with The Royal Birmingham Conservatoire in our search for first-rate academy-based string players
-
To explore and develop a partnership with the Royal Welsh College of Music & Drama in our search for singers who want to gain opera experience through being part of our chorus
-
To develop our Opera-in-Education projects and build upon the links with schools already visited
-
To encourage more corporate support for Dorset Opera as a whole
-
To develop further support from charitable trusts and foundations
-
To welcome more Patrons and Friends to our vital support organisations
-
To promote access to performances specifically for young people
-
Not to increase the price of tickets for 2021 performances.
Activities adopted in 2021 to meet objectives:
2021 began with the hope and expectation that Dorset Opera would be able to present the operas planned for 2020 – having already done a significant amount of preparatory work on our preferred edition of Boris Godunov . However, it soon became clear that we were going to have to completely re-think the whole of our 2021 season to take account of Covid restrictions.
We continued to closely monitor the performance situation with arts organisations and opera companies both here in the UK and elsewhere in the world. We had already established a ‘Covid budget’ in 2020, and we proceeded with caution during the early part of 2021. We did not contract anyone, nor did we open the box office until the Covid exit was clear to us.
In consultation with our host campus, we put together plans offering eleven options for a partially-covered open-air festival. We also looked at the possibility of performing in a Big Top – so determined were we that some form of performance should take place.
When it became clear that an indoor performance at 50% capacity would be possible, albeit with reduced orchestral and chorus forces, we concluded that we could present Mozart’s Don Giovanni and Cosi fan tutte , together with his orchestration of Händel’s Acis and Galatea, and so have a full Festival programme within the constraints of Covid.
When the government’s Covid advice started to change and there was talk of ‘opening up’, we knew we had adopted the correct approach. Nothing could have pleased us more than when the Prime Minister announced (on 12[th] July) that his Freedom Day would go ahead as planned on Monday 19[th] July, the first night of the 2021 Dorset Opera Festival.
3. ACHIEVEMENTS and PERFORMANCE
We did go ahead with auditions to select academy players to join our orchestra, but in order to allow for sufficient distancing in the pit, we decided to postpone their participation until 2022.
Page 3
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
Many of our Elite Chorus did come to us from the Royal Welsh College, where our chorus director, Stephen Harris is a member of the teaching staff.
We had to quarantine a conductor, an assistant conductor and two singers who came from abroad. We are extremely grateful to two very special ladies who provided the necessary accommodation for these vital team members. They were kept in constant touch with the rehearsal room via video link which led to a seamless transition for all concerned when their quarantine came to an end.
Several members of the orchestra pulled out before coming to Dorset after testing positive for Covid.
There can be little doubt that Stewart Charlesworth’s costumes for Don Giovanni were certainly striking. He is very sought-after in the industry. We just hope that he might have some time for us in future years.
In feedback, many opera-goers thought 2021 was our most successful Festival. Not only did we increase the number of opera performances on offer – eight altogether – but we were also able to present a matinée recital of Schubert’s Die Winterreise given by Dorset Opera alumnus, Benjamin Hewat-Craw.
4. OPERA-IN-EDUCATION
With Covid restrictions in place, there appeared to be little we could do to take our opera workshops into Dorset schools this year. However, in May, the national Covid Recovery Curriculum suddenly offered a window of opportunity which permitted us to visit six primary schools located within the Blandford Schools Network.
Briefly, some 630 pupils between the ages of 7-11 along with 54 teachers, took part in full workshop experiences (approx. 94% of the teachers joined in) and a further 360 children experienced and took part in whole-school opera performances. As news of our workshops spread, more and more schools contacted us in the hope of securing a visit from our team, but sadly, there simply wasn’t the capacity to deliver more workshops before schools broke up.
The feedback on our visits has been astonishing. As is often the case, these sessions have a profound effect on SEN children. One staff member reported that, ’Children high on the autism spectrum were completely engaged, giving them freedom to step outside their normal pattern of shy behaviour.’
These workshops are fully funded by Dorset Opera using donations raised specifically to support our Outreach programme.
5. OUR INCOME MODEL
In a normal year, our income model is broken down into thirteen streams:
i. Box Office
For the first time since our move to Bryanston in 2005, we ran our own box office in conjunction with the ticketing organisation, Monad. We engaged Felicity Porter (former manager of the Regent Centre, Christchurch) to oversee the operation and Alice Couling, a regular chorus member, to assist. Tickets were sold online through our website, and the box office could be accessed as usual by telephone. This proved a very efficient method of sale and received high praise from ticket-purchasers. It was also a most cost-effective alternative to our previous arrangements.
ii. Course fees
It was clear to the Board that the global pandemic would not allow us to perform the operas we had postponed from 2020 – it would have been impossible to house and distance a chorus of 70 along with everyone else that needed to join our campus bubble. As a result, there was no Summer School and we did not receive any income from fees during the year.
Page 4
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
iii. The Friends of Dorset Opera
The Friends had accrued a substantial sum from two years’ worth of subscriptions. Knowing that we were working to a deficit this year, FODO kindly offered us a larger grant than had been expected - in the sum of £35,000. We are most grateful to them for their generosity (£nil in 2020).
iv. Advertising
We carry some advertising in our bi-annual newsletters as well as our Festival programme. The total income from advertising this year amounted to £7,671 (£2,482 in 2020) .
v. Events’ (Fundraising) Committee
This sub-committee, chaired by Susanne Parkin, is normally responsible for bluffers’ and celebrity lunches, the Ritzy Tea Party, the annual boat trip, a great deal of friendship, affection and joy for many people over the years. The Board is grateful to EvCom and its members for the much-appreciated hard work they put into their fundraising.
Sadly, because of lockdowns and other matters outside our control we were unable to hold any fundraising events during the year (£4,884 net contribution in 2020) .
vi. Patrons
The majority of our wonderful Patrons generously paid their Circle subscriptions throughout 2020 and continued with their regular support in 2021. Volunteer and chorister, Elspeth Brown, our Patrons’ Secretary, excels in nurturing and caring for these very special supporters.
Several Patrons kindly make extra donations in support of our Outreach programme - which did go ahead this year in a late window when schools were able to open up to extra-curricular activities.
Again, efforts have been made to encourage all Patrons to pay their subscription by Standing Order each October (at the current appropriate amount). We are happy to note that even more Patrons are taking the opportunity to spread their contributions throughout the year by paying through monthly instalments.
Our income from Patrons’ subscriptions this year was £68,726, above 2020’s £67,759. The number of Patrons continues to steadily increase.
vii. Legacies
We were sad to lose one of our most supportive Patrons during the past year. Christopher Ballard, who lived in Sherborne, passed away in October 2020 and kindly remembered Dorset Opera in his will.
viii. Other Donations
These include specific donations towards any identified emergency support projects - including those for Outreach – and amounted to £6,940 (£34,708 in 2020, including ticket donations) .
ix. Gift Aid
Gift Aid is a very valuable addition to the personal donations we receive, whether on Patrons’ subscriptions or otherwise, and amounted to £16,540 (£20,405 in 2020) .
Page 5
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
DORSET OPERA
(A company limited by guarantee)
x. Charitable Trusts and Foundations
Once again, we acknowledge the enormous support of the Jeniam Foundation (USA) whose substantial grant assists with the funding of artists from the Americas.
Whilst we did not expect to receive grants from most of our regular benefactors - especially as many of them had diverted their funds to worthy causes associated with the fight to eradicate Covid-19 - we were grateful to the following who continued to support us:
The Anthony du Boulay Charitable Trust; The William A. Cadbury Charitable Trust; The Fitton Trust and The Kirby Laing Foundation.
In total we gratefully received grants totalling £15,805 (2020 £7,500).
A member of the Board is focusing on this important source of income, ably supported by a select team of volunteers, whose continuous aim is to improve our income results in this area. We are exceedingly grateful to our benefactors and to those volunteers.
xi. Corporate Sponsorship
We gratefully acknowledge the return of two regular corporate sponsors of the Patrons’ Lounge at Bryanston from whom we received a total of £5,000 (£nil in 2020) .
xii. Arts Council England
As with Charitable Trusts, the Arts Council’s priorities were still elsewhere this year and we received £nil (£nil in 2020) .
xiii. Theatre Tax Relief
Theatre Tax Relief (TTR) was introduced in the Finance Act 2014 to mitigate the risk for production companies engaged in qualifying film and theatre productions. The relief is designed to recognise the unique cultural value the Arts bring to the UK and encourage greater and more diverse productions.
Last year, we were able to claim a small amount of TTR on certain costs incurred prior to the cancellation of the Festival. In this full year, the claim amounts to £49,219 (£5,821 in 2020)
6. PUBLIC BENEFIT
Dorset Opera continued to provide an opportunity for the rising young singers who formed our Elite Chorus. Covid restrictions prevented us staging works with a full chorus, hence this was a lower level of activity than normal. We intend to return to a full Summer School in 2022 providing experience to aspiring singers, orchestral academicians and technical theatre students as in past years.
A bursary scheme is available to anyone in full time education up to the age of 25 and in exceptional circumstances awards can be made to those over that age. Bursaries are for those who can prove financial need.
The Trustees confirm that they have given due consideration to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and objectives. ‘In kind’ computations are an intrinsic part of our application for Arts Council funding.
Page 6
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
7. AIMS and OBJECTIVES FOR 2022
One day, we will most certainly complete the objectives we were prevented from achieving in 2020. For 2022 we plan:
-
To mount four performances each of Puccini’s tantalising Manon Lescaut and Mozart’s Die Zauberflöte ( The Magic Flute )
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To bring more associated or ‘fringe’ festival events to the performance week
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To continue to address aspects of previous production underfunding. This may include sets, costumes, and principal costs
-
To grow our partnership with the Guildhall School of Music & Drama and to audition and thus to acquire wind, brass and percussion academy students to play in our orchestra
-
To further develop our partnership with The Royal Birmingham Conservatoire in our search for first-rate academy-based string players
-
To develop our partnership with the Royal Welsh College of Music & Drama in our search for singers who want to gain opera experience through being part of our chorus
-
To further develop our Opera-in-Education projects with schools throughout the county. We also hope to build upon the links with schools already visited
-
To encourage greater corporate support for Dorset Opera and the Festival as a whole
-
To re-connect and develop further support from charitable trusts and foundations, post-Covid
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To welcome more Patrons and Friends to our vital support organisations
-
To create greater awareness of our reduced-price ticket initiative for school-age children and students in further education
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To provide substantial bursaries towards Summer School fees for all UK students in full-time education.
8. STRUCTURE, GOVERNANCE and MANAGEMENT
Board and Committee Structure
The Artistic Director, the Operations Director, the Company Manager and the Front-of-House Manager oversee the volunteers responsible for specific functions in support of each Summer School and are consulted as required. The committee structure remains as follows:
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a) Audit, Risk and Governance Committee: to monitor all financial matters and risks associated with the Charity
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b) Nominations Committee: to consider all statutory and honorary appointments
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c) Remuneration Committee: to consider relevant consultancy fees
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d) Events Committee: to initiate and organise fundraising and other events.
Remuneration Policy
The Trustees receive no remuneration in that role. Mr Kennedy, as Artistic Director, has a consultancy agreement with Dorset Opera. Ms Docherty (who has resigned after the year end) received payment for her organisation of Opera-in-Education (Outreach) projects.
Legal Status
Dorset Opera is a company limited by guarantee (company number: 05170704) and a registered charity (number: 1105318) and is administered under its Memorandum and Articles. It is not liable to Corporation Tax on its charitable activities.
Trustees
The Trustees have the power to appoint, with a simple majority, any person to be a Trustee of Dorset Opera who is deemed to have the necessary attributes and expertise to assist with the effective running of the Charity. All key decisions affecting the direction of the opera company are made by the Trustees. Trustees are required to retire by rotation every three years.
Page 7
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
From time to time a review of Board performance is undertaken by the Chairman and members of the Board. Refreshment of the performance of the Board and its membership is essential. The average tenure of board members is 8 years. The Artistic Director is vital to the running of Dorset Opera and is an essential Board member. Following the year end, one Trustee has resigned. The Board remains content with the progress in recent years.
Risk Management
The Trustees continue to keep the Charity’s activities under review, particularly in respect of the major risks (including the Covid pandemic) that may arise from time to time and, to monitor the effectiveness of the system of internal controls. The Audit, Risk and Governance Committee of the Board was formed to create and monitor the company’s risk mitigation programme and to ensure best practice in its accounting and auditing activities.
We have identified several risks, which are discussed below.
i. Reputation
Our reputation for providing performances at a quality ‘on a par with the top five main UK opera companies’ and other Country House opera venues is crucial for retaining our audience, many of whom come time and again. Any diminution in our reputation would reduce our ticket income which in turn would reduce our ability to deliver high quality performances. The Board is fully aware of this and is resolved to provide the resources required to maintain our quality and reputation.
ii. Pricing
Our charitable status requires us to benefit the community by enabling the maximum number to attend, while our ticket pricing must make a major contribution towards the costs of the performances. Overpricing will restrict audiences while underpricing will reduce our income. The Board takes care to strike this balance.
iii. Voluntary & Other Income
Voluntary income is always a major source of funds, primarily from our Patrons. This support is not taken for granted, and the Board continues to ensure that Patrons are respected and benefit from excellent communication and recognition as well as receiving priority booking and invitations to specific events.
We also have an enduring relationship with the Friends of Dorset Opera whose charitable objective is to raise subscriptions in support of the Charity - particularly for the benefit of the young attending our Festival and Summer School.
When Covid permits, our Events’ Committee organises functions and events in order to raise funds to support the Festival, and we also have a diligent group of volunteers, under Board member, Steve Norman, who specialise in raising funds from grant-making charitable trusts and foundations.
The Board ensures that the contribution of all these groups is recognised and encouraged.
iv. Expenditure
The Board is conscious that its funds must be used to the best effect and hence costs must be controlled, while ensuring that production quality is maintained (see i. above). Engaging high quality artists and technicians is subject to market pressures, and costs generally are subject to inflation. The level of voluntary support ensures that administration costs are minimised. The Board sets realistic budgets and monitors the level of spend during the year.
v. Volunteers
Dorset Opera employs no staff but relies upon an extensive group of volunteers who are vital to the continued success of the organisation. The volunteers provide a cheerful and skilled input to the Festival and maintaining this is a key objective. Any reduction in this support would hamper the smooth running of the Festival. The Board recognises their contribution and communicates with them through regular newsletters, team briefings and reviews.
Page 8
DORSET OPERA
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
(A company limited by guarantee)
vi. Social Media
The Trustees realise the importance of social media in promoting Dorset Opera. If we do not use it effectively it will limit our reach to new and younger audiences. Additionally, we recognise the importance of promoting the Festival to potential participants - be they Summer School, creative and technical participants or professional singers. Although many of our followers and supporters belong to a presocial-media era there is a considerable and growing number who do use it and, unsurprisingly, nearly all the young Summer School students and professional singers are avidly connected. Each group tends to use different social media platforms. At the present time, a typical audience member may use Facebook while the younger participants lean towards Instagram. Our communications’ team is focused on being aware of these trends and keeping pace with them.
vii. Key People
Dorset Opera is dependent on the contribution of a core of key individuals. Their skills, knowledge, contacts and experience are essential for our continued operation. Where maintaining cover from existing resources is impractical, the Board is ready to engage external support to provide continuity, if necessary.
viii. Operational Continuity
The COVID pandemic has highlighted that the risk of the Festival’s cancellation is real and that risk cannot always be foreseen or mitigated in full. As effective insurance cover for pandemic risks is not available (the new £750m insurance scheme fashioned between the government and Lloyd’s of London does not go far enough) it is essential that we continue to strengthen our resilience by keeping our reserves at a high level, as detailed in the Reserves Policy below.
Lesser risks, such as failures of suppliers, are also recognised and contingency plans established to minimise such impacts.
ix. Regulatory Compliance
We are subject to regulation by the Charity Commission and must comply with the requirements both of HMRC for Gift Aid and Corporation Tax returns and of Companies House for filing accounts and annual returns. Shortcomings may result in penalties or further sanctions. The Audit, Risk and Governance Committee is charged with monitoring compliance, implemented by review of practice against the Charity Governance guidance and oversight of the Accounts’ production and their Independent Examination. Board members are aware of their responsibilities and are confident that they are discharged correctly.
x. Information Security
The General Data Protection Regulation (GDPR) requires us to keep the personal information we hold secure, and not misuse it. Failings can lead to penalties. We take great care to ensure that such information is not disclosed improperly, and our electronic communications offer the recipient the opportunity to unsubscribe.
9. RESERVES POLICY
The reserves are detailed in notes 14 and 15 to the accounts.
In 2019 the Trustees considered the risks then foreseen which could affect Dorset Opera, and endeavoured to establish a level of financial reserves which would enable scheduled performances to be completed during the season. Various scenarios were investigated including:
-
An event requiring a shift in the performance venue
-
Resistance to ticket price increases resulting in less revenue, and resistance to chorus fee increases requiring further subsidies to some members
-
Absence of key professionals or performers requiring extra costs to cover
-
Unforeseen inflationary or other cost increases.
Page 9
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021
At that time the Trustees formed the opinion that a prudent general fund reserve of £120,000 was required.
In 2020, the COVID-19 pandemic and associated restrictions resulted in a higher level of risk. A complete cancellation of the Festival immediately before the start of performances would require all ticket sales to be refunded with no insurance protection available, while the majority of the Festival costs would have been incurred. The Trustees therefore decided to hold a designated fund for COVID risks of £100,000 at end-2020. In the event we were able to present a full Festival in 2021 despite the continuing presence of COVID, but the constraints on audience size restricted ticket sales resulting in a deficit of £25,961 (excluding Outreach – attributable to specific Funds). This deficit has been applied in full to the COVID fund leaving a balance of £74,039. As a result there is no movement in the General Fund which remains at £127,773.
The designated and restricted funds now total £107,044 (2020: £137,105) , the majority of which can be drawn upon for relevant expenditure. Our total funds stand at £234,817 (2020: £264,878) including all Restricted and Designated Funds which the Board considers to be sufficient to cover continuing COVID risks.
The level of the COVID Risk designated fund will be regularly reviewed in the light of the pandemic status.
10. INDUCTION PROGRAMME
People who are invited to join the Board usually already have considerable knowledge of Dorset Opera, having visited performances over the years. In addition to briefing meetings with the Chairman, Artistic Director and appropriate volunteers, new Trustees are given the necessary information to equip them to take on a given role including:
-
Minutes of previous Board meetings
-
Copies of Dorset Opera’s Accounts for the previous years, and
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Past programmes, newsletters and copies of press reviews.
11. FINANCIAL REVIEW
Dorset Opera successfully overcame the constraints and risks of the COVID pandemic to complete a full Festival programme. The Board expected at the outset that we would incur a deficit for the year, but considered it essential to go forward with plans for the Festival in order to continue to meet our charitable objectives. A second successive cancellation would cause great difficulty in resuming the Festival after a long hiatus.
Ticket sales were limited by the Government restrictions to half-full houses until a relaxation was announced the week before the Festival: that allowed little time for further sales. However with total sales reaching 56% of capacity, continued support from our Patrons and the receipt of a generous legacy we limited our overall deficit to £30,061 (2020: £35,863 surplus), a better result than had seemed achievable at the start of the year. Of this, £4,100 was in respect of our Outreach programme, with £25,961 being attributable to the Festival itself. This is being charged to the COVID Risk designated fund (as noted in 9. above).
The General Fund remains at £127,773, above our ongoing Reserves requirement of £120,000.
Investment powers, policy and performance
The Trustees have power to invest the money of the Charity not immediately required for its purposes in such investments or property as they think fit. Currently cash reserves are required to meet the day to day needs of the Charity, and in the current COVID environment security and ready availability of our reserves is a priority. Cash is therefore generally held in low risk deposit accounts which give short-term access to these funds.
12. BOARD POLICIES
Dorset Opera is committed to equality of opportunity for all and to removing barriers to equal opportunity. The Board fully recognises and accepts its responsibility to ensure that there is no discrimination on the grounds of a person's gender, marital status, race, religion, colour, age, disability or sexual orientation.
Page 10
DORSET OPERA (A wnp•ny Imlt•d by guarantwl TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 AJI individuals wll be trealed faity and equally. and all reknnt legiti"(m wil be ccrylied with during the Festival and assoaated aclivrb"es. Confidents81ty of inforniatiL is rnaintsin8d at all tsmes The Board will abo endeavour to ensure that bulldlngs are accessible to al or that a surtat4e attemalve is io¥MJe(I vtherBver posslbl•. The B08rd regul8rty reviews ts polcie5 on Burs8ry Awards: CcthKlaints Procedure., ConflKts of Interest,. Data Protection: Equalty Diversiiy, Fee arKI WaNer. and Heatth & Safety. 13. GRANT41AKING POLICY The Charity provid6s lunds for Imjrsafies lo reduc• lh• fees tharged to Wallng participants in our Summer School. This is the pn'mary purpose of the Palric& Shelley r8strided fund, whith is supplemented by the designated Bursaries fund (see Note 14 lo the Accwntsl. The Charity does not nornalty disburse grani8 to Indlviduals LY other organlsations. 14. PRINCIPAL FUNOING SOURCES The lollowng are the prindpal lunding sources of the Charty Income from J(*et sales., donatlons from Patrons of Dorset Opera.. donations frrmn ihe Friends of CIcSe1 Opera: luTrJravsing income from events held Ihroughoul the year.. ca$lal flnanclal SUPFK¥t from Arts Cwndl England.. a large number of grant4naklng Trusts; and Thgatre Tax Relief. See Sects. 5 above and notes 5 to 7 bdthv Icf m(e delail. MrG MrnJ Lang Chalrman Trustee Page11
DORSET OPERA IA ¢omp•ny limitod by guar•ntg0) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DORSET OPERA I roport lo the trustees on my examination of th8 accounts of Dorset Opera for the ygar ended 30 Seplomber 2021 which compri88 the Statement of Financial Aelivilies, the Balance Sheet and the nol&s lo the accounts. induding a summary of signrficant &counting policies. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER AND BASIS OF REPORT As the trustees of the charbtable company land al80 the diwlors for the purposes of company lawl you are re8pon8ible lor the preparation of the &¢ounts in accordance wrth the requirements of the Companie8 Act 2006 I'th6 Companies Acl'}- Having 8ati8fied my8eW that tho account¥ of the charitabkry company are not required to be audilgd under Part 16 of the Compani88 Act and are oligiblo for indepondenl examination. I report in respect of my examination of the eharty'8 awounls carried out under section 145 of the Chari(ie8 Act 2011 I'lhe Charf(ies Act'l and in carrying out my examination I hav8 followed all the applicable Directions given by thè Charty Commission under Section 14SlSllbl of th8 Charitiès Act. INDEPENDENT EXAMINER'8 REPORT Since the eharilablg mmpany's gross income exceeded £250,000 your examineT must be a member of a body listed in 86Ction 145 of the 2011 Act. I confirm Ihal l am qualrfied lo undgrtako the examination because l am mombor of The In81ilute of Chartered Accounlanls in England & Wales, which18 one of the li$led bodi. I have complaled my oxaminalion. I confirm that no material matter8 have come to my attention in connection with the examination giving me cau88 lo believe th81 in any material rospecl., oc¢ounling record8 were not kept in r88P8Ct of tho ¢haritable company a8 required by Sèction 386 of the Companies Act., or the cOUntI do not a¢¢ord wth those record8,' or the Kcounts do not eomply with Ihg accounting r8quiffjmenls of $oclion 396 of the Comp8nies Act othgr than any requiremonl that the accounts give a true and fair view which is not a matter considered as part of an Ind8p8ndanl examination., OT the accounts have not been prepared in accordance with the method$ ond principle8 of the Statement of Recommended Practicè for accounting and reporting by chariti68 applicable lo charitie8 preparing their 8ccounts in accordance with the Financial Reporting Standard applible in the UK and Republic of Ireland IFRS 1021. I have no wncerns and have come 8cr08s n¢ other matter8 in connection with the examination lo which attèntion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Mrs K Hobbs, FCA Edwards & Keeping Unity Chambers 34 High East Street Dorchester DoT3el DT1 1HA Page 12
(A company limited by guarantee)
DORSET OPERA
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2021
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 5 Charitable activities 4 Other trading activities Investments 6 Other income 7 TOTAL INCOME AND ENDOWMENTS EXPENDITURE ON: Raising funds Charitable activities 8,9 Other expenditure TOTAL EXPENDITURE NET (EXPENDITURE)/INCOME Transfers between Funds 14 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
General funds Designated funds Restricted funds £ £ £ |
Total 2021 £ |
Total 2020 £ |
|---|---|---|---|
| 175,511 - 2,500 208,023 - - - - - 1,350 - - 49,219 - - |
178,011 208,023 - 1,350 49,219 |
134,256 2,905 3,049 1,447 5,821 |
|
| 434,103 - 2,500 |
436,603 | 147,478 | |
| (564) - - (433,421) (28,511) (4,050) (118) - - |
(564) (465,982) (118) |
(4,420) (106,596) (599) |
|
| (434,103) (28,511) (4,050) |
(466,664) | (111,615) | |
| - (28,511) (1,550) |
(30,061) | 35,863 | |
| - - - |
- | - | |
| - (28,511) (1,550) 127,773 123,980 13,125 |
(30,061) 264,878 |
35,863 229,015 |
|
| 127,773 95,469 11,575 |
234,817 | 264,878 |
The notes on pages 15 to 22 form part of these statutory accounts.
All operations are classed as continuing.
All recognised gains and losses are included above.
Page 13
DORSET OPERA IA ¢ompany Imlt•d by guarants•) REGISTERED NUMBER: 05170704 BALANCE SHEEr AS AT 30 SEPTEMBER 2021 2021 FIXED ASSETS Tanglble a888t8 11 3,671 4,328 CURRENT ASSET8 Debtor8 Cash al bank and In hand 12 55,881 214,385 10,862 252,787 Totsl Currnnt A•••t• 270,266 263,649 Credllors.. amounts falung dua wthln one yoar 13 39,120 3,099 NET CURRENT ASSErs 231,146 260,000 NET ASSETS 234,817 204,878 CHARITY FUNDS Re6lrfct•d funds 14 11.575 13,125 De$lgn8tsd fvnds 14 95,489 123,980 fvnds 14 127,773 127, 773 TOTAL FUND8 234,817 261.878 The Tnjstees con$lder th81 the Chadty Is entlugd lo exemptlon from the requlrement lo have an audtt under the provlslons of 8edon 477 of the Companles Act 2006 (kne Act"} and members havo not requlrgd the Charfty to oblakn an audtt lor the year In quegdon In 8CCQTdance V+lth geGtlon 476 of the Act. Tha Tru8t8es acknowledge thelr respon8lbllllle8 for comptylng wilh the requIreM ofthe Compan188 Act 2006 wlth reBpect to ac£Ounn9 record8 and the w8parnCffb of Statytory accounts. The statutory 8ccounts have been prepared In accordance wFth the provlslons appllc8ble to small comp8nl86 within Part 15 of the Companies Ad 201k3 and In aeLordance vAth the Flnancial Reportlng StaThJard 102 a# appllcable In the UK and Republc ol Ireland. The notes on pages 15 to 22 fo art ofth858 st8tulory •¢Gourts. Tha statutory accourts on thr behalf by.. e approved and authorlsed for188ua by the TruBtees on WJanuary 2022 and 81gn8d Mr att jCh8lm78nj MrsJ Lang ruSteel Page 14
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
1. ACCOUNTING POLICIES
1.1 General information
Dorset Opera is a company limited by guarantee and is incorporated in England and Wales. The registered office is Dorset Opera, Cheselbourne, Dorchester, DT2 7NP.
1.2 Basis of preparation of statutory accounts
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in sterling which is the functional currency of the Charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.3 Going concern
The statutory accounts have been prepared using the going concern basis of accounting. While the COVID-19 pandemic continued to impact our operations, our reserves remain fully sufficient to support our activities. The Trustees are of the view that there are no material uncertainties about the Charity's ability to meet its financial liabilities as they fall due and therefore consider it appropriate to prepare statutory accounts on a going concern basis.
1.4 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds are unrestricted funds which the Trustees have designated for a specific purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
The aim and use of each restricted and designated fund is set out in the notes to the statutory accounts.
1.5 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor's intention to
Page 15
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.6 Expenditure
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.
1.7 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Bar and festival equipment - 10 years straight line
When fully depreciated, assets are treated as disposed of. Small items of equipment costing no more than £500 are expensed on acquisition.
1.8 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
1.9 Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Liabilities
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.
Page 16
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
2. NET INCOME
2021 2020 £ This is stated after charging: Depreciation of tangible fixed assets owned by the Charity 657
3. EMPLOYEES The Charity had no employees during the year (2020: nil). No Trustees were in receipt of remuneration in that role in the year (2020: nil) .
4. INCOME FROM CHARITABLE ACTIVITIES
Opera Festiva l
| Tickets Advertising and Sponsorship Programmes and raffles Bars and catering Marquee and pavilion income Merchandise & DVDs All of the income from charitable activities relates to unrestricted funds. |
2021 £ 2020 £ 167,186 - 12,671 2,482 8,097 - 14,829 - 4,735 - 505 423 |
|---|---|
| 208,023 2,905 |
|
5. INCOME FROM DONATIONS AND LEGACIES
| Friends of Dorset Opera Grants from other charities Individual donations and legacies Gift Aid received |
2021 2020 £ £ 35,000 - 15,805 7,500 110,666 106,351 16,540 20,405 |
|---|---|
| 178,011 134,256 |
All of the income from donations and legacies related to unrestricted funds with the exception of £2,500 (2020: £3,813) of donations and associated Gift Aid received.
Page 17
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
6. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Bank interest | 1,350 | 1,447 |
| All of the investment income related to unrestricted funds. |
| 7. | OTHER INCOME | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Theatre Tax Relief | 49,219 | 5,821 | |
| All of the other income related to unrestricted funds. |
8. CHARITABLE ACTIVITY EXPENDITURE
Opera Festival
| Opera Production Cast & Crew Accommodation Emerging Artists Outreach Activities Marketing, Publicity and Hospitality Administration Governance Total |
2021 £ 2020 £ 327,208 69,519 52,682 1,000 11,575 - 6,600 2,970 52,852 18,550 12,387 10,719 2,678 3,838 |
|---|---|
| 465,982 106,596 |
£2,550 of the Outreach expenditure was made through the restricted Opera-in-Education fund ( 2020: £2,970 ) and a further £4,050 ( 2020: nil ) through the designated Outreach fund. £25,961 of the Opera Production expenditure was made through the COVID Risk fund ( 2020: nil ). In each case this was in accordance with the purpose of the fund. The remainder of the expenditure was through the General Fund.
9. GOVERNANCE COSTS
| Accountancy fees Independent examiner's fees AGM expenses |
2021 £ 2020 £ 518 1,800 2,160 1,920 - 118 |
|---|---|
| 2,678 3,838 |
Page 18
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
10. INDEPENDENT EXAMINER'S REMUNERATION
The remuneration of the Independent Examiner was £2,160 (2020: £1,920).
11. TANGIBLE FIXED ASSETS
| 11. TANGIBLE FIXED ASSETS |
||
|---|---|---|
| Equipment At 1 October 2019 Additions Depreciation charge for the year Disposals At 30 September 2020 Additions Depreciation charge for the year Disposals At 30 September 2021 12. DEBTORS Trade debtors Prepayments and accrued income 13. CREDITORS: Amounts falling due within one year Trade creditors Expense Accruals Tax Liabilities |
Cost Depreciation Carrying Amount £ £ £ 6,570 (1,647) 4,923 - - - - (595) (595) - - - |
|
| 6,570 - - - |
(2,242) 4,328 - - (657) (657) - - |
|
| 6,570 | (2,899) 3,671 |
|
| 2021 £ 2020 £ 4,900 - 50,981 10,862 |
||
| 55,881 10,862 |
||
| 2021 2020 £ £ - 1,179 37,090 1,920 2,030 - |
||
| 39,120 3,099 |
Page 19
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
14. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at | Balance at | Balance at 30 | ||||
|---|---|---|---|---|---|---|
| 1 | October | Transfers | September | |||
| 2020 | Income | Expenditure | in/out | 2021 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds | 127,773 | 434,103 | (434,103) | - | 127,773 | |
| Designated funds (unrestricted) | ||||||
| Wider Access Fund | 8,000 | - | - | - | 8,000 | |
| Bursaries | 12,000 | - | - | - | 12,000 | |
| Outreach | 3,980 | - | (2,550) | - | 1,430 | |
| COVID Risk Fund | 100,000 | - | (25,961) | - | 74,039 | |
| Total designated funds | 123,980 | - | (28,511) | - | 95,469 | |
| Total Unrestricted funds | 251,753 | 434,103 | (462,614) | - | 223,242 | |
| Restricted funds | ||||||
| Opera in Education | 1,706 | 2,500 | (4,050) | - | 156 | |
| Patrick Shelley Bursary fund | 11,419 | - | - | - | 11,419 | |
| Total Restricted Funds | 13,125 | 2,500 | (4,050) | - | 11,575 | |
| Total of funds | 264,878 | 436,603 | (466,664) | - | 234,817 | |
| STATEMENT OF FUNDS - PRIOR YEAR | ||||||
| Balance at | Balance at 30 | |||||
| 1 | October | Transfers | September | |||
| 2019 | Income | Expenditure | in/out | 2020 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds | 192,753 | 143,665 | (108,645) | (100,000) | 127,773 | |
| Designated Funds | 23,980 | - | - | 100,000 | 123,980 | |
| Total Unrestricted funds | 216,733 | 143,665 | (108,645) | - | 251,753 | |
| Restricted funds | ||||||
| Restricted Funds - all funds | 12,282 | 3,813 | (2,970) | - | 13,125 | |
| Total of funds | 229,015 | 147,478 | (111,615) | - | 264,878 |
Page 20
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
14. STATEMENT OF FUNDS (CONTINUED)
The restricted funds comprise two elements. The Patrick Shelley Fund was created to award bursaries to participants meeting necessary criteria at the Summer School. We also receive donations to support our outreach programme - Opera-in-Education - and these are included within the restricted funds.
Three designated funds were set up in 2018. These funds are for the following purposes:
-
Wider Access Fund - £8,000 has been designated to assist in promoting and supporting access to performances for those unable to afford the full ticket price.
-
Bursaries - a designated fund of £12,000 is to be used to supplement the restricted Patrick Shelley Fund.
-
Outreach - further support for the outreach programme can be provided via a designated fund (£1,430 at end-2021 (2020: £3,980) ) which will augment the restricted Opera-in-Education fund.
In 2020 the COVID Risk Fund was set up in view of the severe risks from an urgent cancellation without insurance mitigation. £100,000 was designated to this fund and £25,961 of expenditure was made through it in the year reflecting the impact of COVID restrictions, leaving a balance of £74,039 to protect against the continuing risk.
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| CURRENT YEAR Tangible fixed assets Current assets Creditors due within one year PRIOR YEAR Tangible fixed assets Current assets Creditors due within one year |
General funds Designated funds Restricted funds Total 2021 £ 2021 £ 2021 £ 2021 £ 3,671 - - 3,671 163,222 95,469 11,575 270,266 (39,120) - - (39,120) |
|---|---|
| 127,773 95,469 11,575 234,817 |
|
| General funds Designated funds Restricted funds Total 2020 £ 2020 £ 2020 £ 2020 £ 4,328 - - 4,328 126,544 123,980 13,125 263,649 (3,099) - - (3,099) |
|
| 127,773 123,980 13,125 264,878 |
Page 21
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2021
16. RELATED PARTY TRANSACTIONS
During the year the following payments were made to Trustees:
Mr Roderick Kennedy, a Trustee and consultant, received payments of £50,000 (2020: £50,000) for consultancy services, and £1,565 (2020: £3,397) for the reimbursement of travel and subsistence expenses. At the year end, £27,565 (2020: £nil) remained in creditors.
Ms Lynsey Docherty, a Trustee, received payments of £2,550 (2020: £1,300) for consultancy services as part of the Opera-in-Education outreach project.
Harriet Kennedy, a relative of Mr Roderick Kennedy, a Trustee, received a payment of £1,000 for services as Property Master.
Maximilian Selby Bennett, a relative of Mrs S Selby Bennett, a Trustee, received a payment of £126 for services in support of the Festival operations.
The Trustees, other than Mr Kennedy, were reimbursed £nil (2020: £nil) for travel and other personal expenditure.
17. LIABILITY OF MEMBERS
The Charity is a company limited by guarantee. A member's contribution to the assets of the Charity in the event of it being wound up while he or she is a member or within one year of ceasing to be a member is limited to an amount not exceeding £10.
Page 22