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 2022
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 2022 | |
| 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 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
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 2022.
FOREWORD
2022 and the Covid-19 Pandemic continues
Once again, we began the season with the thought that we might resurrect our plans for the operas we had been forced to cancel last year, namely Boris Godunov and La rondine . But, with Covid still raging, it soon became clear that we could not attract the chorus numbers we would require in order to do justice to the Mussorgsky. Therefore, for the second year running, we again changed our plans, offering a Puccini (Manon Lescaut) that we hadn’t presented for 32 years and yet another Mozart (The Magic Flute), which was last performed in 1979. It should be noted that in the end, we had to deal with many more Covid issues than in 2021.
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 2021 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, our festival performances. Our Operations Director, Susannah Hubert, and Company Manager, Caroline D’Cruz, ably assisted by Jane and Mike Dempster-Brook and Seymour Adams, co-ordinate activities and schedules while we are on campus at Bryanston. Susannah and Caroline carry out vital duties throughout the year. The Trustees are grateful for their amazing devotion.
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 (many of international renown) fine conducting and an orchestra of high quality, in a ‘Country House’ setting. Dorset Opera actively promotes young and emerging singers and a number of our alumni have gone on to greater things. All operas are sung in the original language where possible and English surtitles are provided (even when the opera is sung in English).
Page 2
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
Dorset 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 2022
One day, we will most certainly complete the objectives we were prevented from achieving in 2020. For 2022 we planned:
-
To mount four performances each of Puccini’s tantalising Manon Lescaut and Mozart’s Die Zauberflöte ( The Magic Flute )
-
To bring more associated or ‘fringe’ festival events to the performance week
-
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
-
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
-
To provide substantial bursaries towards Summer School fees for all UK students in full-time education.
Activities adopted in 2022 to meet objectives:
We looked again at presenting our proposed operas from 2020, having already done a significant amount of preparatory work on our preferred edition of Boris Godunov . However, as in 2021, with Covid still around, it was clear that welcoming a full size chorus (60-80) to Bryanston, would not be advisable so more modest forces were planned.
It was therefore decided that a good Puccini would attract audiences and participants alike, so Manon Lescaut – not performed in Dorset for 32 years – was our choice. The second work should be another ‘blockbuster’ following on from last year’s MozartFest. Looking at our back catalogue, we considered several pieces before alighting on the idea of performing another Mozart and Die Zauberflöte , or The Magic Flute, was the obvious choice for this year’s chorus. Forty-three years after its first and only outing, we again determined that it should be in English, in a new translation that would make its message very clear to understand…
3. ACHIEVEMENTS and PERFORMANCE
We decided to mount four performances of each opera this year. Quite ambitious when our friends at other Country House opera companies were cutting back on the number of shows and reporting substantial declines in audience numbers. Several companies were ‘papering’ the houses for the more obscure operas.
Having auditioned our academy players in 2021, but not used them due to distancing and Covid restrictions, we extended our offer to those same musicians hoping they would take up the opportunity this year – and many of them did.
Page 3
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
Despite taking precautions against Covid and setting strict protocols in place, our preparations suffered more from the virus this year than in 2021. We provided masks and literally hundreds of kits for participants to test every day if necessary. Within two days of our arrival at Bryanston, our guest chorus master Nic Mansfield and his assistant tested positive. Their places were taken by our répétiteurs whenever possible. Nic came back after just five days, but his assistant wasn’t able to return at all. One of the worst-affected was our music director, Jeremy Carnall. He was hit so badly that he had to step down from conducting altogether and we are grateful to the brilliant José Miguel Esandi, who agreed to take to the podium for Die Zauberflöte as well as his planned Manon Lescaut .
Eventually, several members of the chorus contracted Covid and were sent home or quarantined off-campus. Many returned in time to take part in performances – others did not. Even on the days of the dress rehearsals we were losing members of the orchestra. On the day before the Manon Lescaut première we lost two cellists and the principal viola. Luckily, we were able to replace them.
Despite these challenges, we successfully presented both operas to audiences totalling 3,422 people. They were delighted by The Magic Flute , and our soloist Anna Patalong received critical plaudits for her role as Manon Lescaut.
Costume designer, Stewart Charlesworth, returned to give us some more extraordinary designs. Costumes for the Queen of the Night, Pamina, Sarastro, and others, were stunning - as were the dresses for Manon Lescaut herself.
4. OPERA-IN-EDUCATION
With some 630 pupils between the ages of 7-11 along with 54 teachers, having taken part in full workshop experiences (approx. 94% of the teachers joined in) and a further 360 children having experienced and taking part in ‘whole-school’ opera performances in 2021, it became impossible to replicate such success this year.
We are in the process of recruiting a new Outreach team in order to satisfy the demand for Opera-in-Education that Dorset Opera has created across the county. We hope that our team will be back in schools during the spring and early summer, hopefully with an increased capacity for delivering more workshops and re-visiting some of the schools where our work has been most successful.
These workshops are funded by Dorset Opera largely using donations raised specifically to support our Outreach programme. Those who donated funds in 2022 agreed that their contributions should be held over until 2023, or they may have elected for their support to go towards much-needed bursaries in 2022.
5. OUR INCOME MODEL
Our income model is broken down into 11 streams:
i. Box Office
We continued to run our own box office under the oversight of Felicity Porter. The majority of bookings were made online, with other sales and support being by telephone. As well as Festival tickets, this included cabana hires and catering, together with bookings for fundraising events. Total takings approached £300,000, of which £247,409 was for Festival tickets, significantly more than the Covidaffected sales of £167,186 in 2021.
ii. Course fees
We were delighted to be able to run our full Summer School again this year after two years in which Covid had prevented it. We offered bursaries to conservatoire and music school students under the age of 25 (although discretion was used in offering support to those over this age, who are still in full-time education). Young singers from Dorset received a full bursary through the generous support of a grant of £10,000 from the Steel Charitable Trust. Our net income from course fees was £14,853.
Page 4
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
iii. The Friends of Dorset Opera
FODO were once again able to give us a substantial grant of £35,000. We are most grateful to them for their generosity (£35,000 in 2021).
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 £10,154 (£7,671 in 2021) .
v. Corporate Sponsorship
We were very pleased to welcome Bottriell Adams as a third corporate sponsor of the Patrons’ Lounge at Bryanston alongside Humphries Kirk and Duke’s Auctioneers. We received a total of £7,500 (£5,000 in 2021) .
vi. Events (Fundraising) Committee
This sub-committee, which was chaired by the late Susanne Parkin, is responsible for bluffers’ and celebrity lunches, the annual boat trip, and 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. This was re-energised this year after last year’s Covid-affected hiatus, with 12 events held, raising some £18,060 after costs (£nil in 2021) .
vii. Patrons
Our wonderful Patrons continued with their regular support in 2022, augmented by several new Patrons who have joined our community. Volunteer and chorister, Elspeth Brown, our Patrons’ Secretary, excels in nurturing and caring for these very special supporters.
Our income from Patrons’ subscriptions this year was £78,570, a welcome increase from 2021’s £68,726.
viii. Other Donations
These include specific donations towards support projects and amounted to £5,090 (£6,940 in 2021)
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 £20,338 (£16,540 in 2021) .
x. Charitable Trusts and Foundations
We were most grateful to the following Charities who supported us this year:
The Steel Charitable Trust; The William A. Cadbury Charitable Trust; The Guy Fawkes Trust and The Kirby Laing Foundation.
In total we gratefully received grants totalling £26,000 (2021 £15,805) .
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. 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.
Page 5
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
We are delighted that the Government has recognised the pressure on arts organisations by increasing the level of TTR from an effective 16% to 36% of qualifying expenditure. As a result, this year we are able to claim £139,464 (£ 49,219 in 2021).
6. PUBLIC BENEFIT
Dorset Opera returned 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.
We encourage young people to attend performances of opera by offering tickets at heavily discounted prices to under-26s.
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.
7. AIMS and OBJECTIVES FOR 2023
For 2023 we plan to:
-
Mount three or four performances each of Massenet’s Le Roi de Lahore - featuring a chiefly South Asian cast of principal singers with a chorus of 65 - alongside Mozart’s classic romantic comedy Le nozze di Figaro
-
Build up a Golden Fund to support the special projects planned for our 50[th] anniversary year in 2024
-
Continue to enhance our production values
-
Expand our partnerships with the Guildhall School of Music & Drama, the Royal Birmingham Conservatoire and the Royal Welsh College of Music & Drama
-
Re-kindle our relationship with Dorset schools by bringing our Opera-in-Education projects back to life through a new outreach team. We intend to reconnect with schools already visited as well as making new contacts
-
Encourage greater corporate support for Dorset Opera and the Festival as a whole
-
Reconnect and develop greater support from charitable trusts and foundations in the post-Covid world
-
Welcome more Patrons and Friends to our vital support community
-
Create greater awareness and uptake of our reduced-price ticket schemes for school-age children, students and other young people under 26
-
Continue to provide substantial bursaries towards our 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.
Page 6
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Board’s committee structure remains as follows:
-
a) Audit, Risk and Governance Committee: to monitor all financial matters and risks associated with the Charity
-
b) Nominations Committee: to consider all statutory and honorary appointments
-
c) Remuneration Committee: to consider relevant consultancy fees
-
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 resigned during the year) had received payment for her past 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.
People who are invited to join the Board usually already have considerable knowledge of Dorset Opera, having visited performances over the years. For their induction, 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
-
Past programmes, newsletters and copies of press reviews.
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 9 years. The Artistic Director is vital to the running of Dorset Opera and is an essential Board member. 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 receding 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.
Page 7
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 our Charity - particularly for the benefit of the young attending our Festival and Summer School.
Our Events’ Committee organises functions and events in order to raise funds to support the Festival.
We have a diligent group of volunteers, under Board member Steven 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). Fees for engaging high quality artists and technicians are 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.
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.
Page 8
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
viii. Operational Continuity
The COVID pandemic highlighted the risk to the Festival’s operations and that it cannot always be foreseen or mitigated in full. However the removal of government restrictions on audience sizes has reduced the financial risk to ticket sales. We remain aware that other similar risks may arise and the Board continually monitors the environment for such risks.
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.
The Trustees have reviewed the risks which could affect Dorset Opera, and the level of general reserves required to enable scheduled performances to be completed during the coming season. Various scenarios were investigated including:
-
An event making our performance venue unavailable
-
Absence of key professionals or performers requiring extra costs to cover
-
Shortfall in income from ticket sales or other sources, prompted by economic conditions or resistance to prices
-
Unforeseen inflationary or other cost increases.
The Trustees consider that a prudent general fund reserve of £120,000, as previously determined, remains sufficient.
While there was some operational disruption caused by COVID this year, the financial effect was minimal. The designated fund for COVID risks has therefore been released.
The Charity is mindful that it should meet its core objectives in the event of financial strain, and therefore holds designated funds for Young Performers (including fees for emerging artists and academy players, and bursaries for Summer School students) which includes the previous Bursaries fund, Wider Access (for subsidised tickets for young people) and Outreach projects in local schools. The Board has reviewed these funds and considers that they should support these activities for the two years ahead, taking account of existing restricted funds and expected donation income for these activities. The Board therefore considers that these funds should be strengthened as follows:
- i. Young Performers: £40,000 ii. Wider Access: £15,000 iii. Outreach: £20,000.
Page 9
DORSET OPERA
(A company limited by guarantee)
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Board also intends to commission a new opera to mark the 50[th] anniversary of the founding of Dorset Opera (in its precursor form to the current Charity). The Board has therefore designated a further fund of £50,000 to support this and other Golden Anniversary projects.
10. FINANCIAL REVIEW
This year we were delighted to run a full Festival programme with no restrictions on audience size. Ticket sales were a record at £247,409 (2021: £167,186) , and the short-term increase in the Theatre Tax Relief (TTR) rate increased our claim substantially to £139,464 (2021: £49,219) , contributing to our total income of £651,967 (2021: £436,603) . A range of pressures on the creative industries had increased costs and our spend on the production of the Festival increased to £421,178 (2021: £327,208) , within our total costs of £621,617 (2021: £466,664) . The overall result is a surplus of £30,350 (2021: £30,061 deficit) .
We are very conscious that the TTR rate will fall back to its past level over the next two years and repeating this year’s surplus will not be possible. The Board recognises that our core programmes of support for young people – as performers and through subsidised tickets and Outreach – need to be maintained and have therefore set aside reserves to support them over the next two years, as set out in 9. Reserves Policy above.
The General Fund now stands at £126,092 (2021: £127,773) , above our requirement of £120,000, within our total Reserves of £265,167 (2021: £234,817) .
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 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.
11. 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.
All individuals will be treated fairly and equally, and all relevant legislation will be complied with during the Festival and associated activities.
Confidentiality of information is maintained at all times The Board will also endeavour to ensure that buildings are accessible to all or that a suitable alternative is provided wherever possible.
The Board regularly reviews its policies on Bursary Awards; Complaints Procedure; Conflicts of Interest; Data Protection; Equality and Diversity; Fee and Accommodation Waiver; and Health & Safety.
12. GRANT-MAKING POLICY
The Charity provides funds for bursaries to reduce the fees charged to qualifying participants in our Summer School. This is the primary purpose of the Patrick Shelley restricted fund, which is supplemented by the designated Bursaries fund (see Note 14 to the Accounts). The Charity does not normally disburse grants to individuals or other organisations.
Page 10
DORSET OPERA
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022
| 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 INCOME/(EXPENDITURE) 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 2022 £ |
Total 2021 £ |
|---|---|---|---|
| 160,260 - 19,750 337,026 - (17,250) 11,601 - - 1,116 - - 139,464 - - |
180,010 319,776 11,601 1,116 139,464 |
178,011 208,023 - 1,350 49,219 |
|
| 649,467 - 2,500 |
651,967 | 436,603 | |
| (10,234) - - (611,383) - - - - - |
(10,234) (611,383) - |
(564) (465,982) (118) |
|
| (621,617) - - |
(621,617) | (466,664) | |
27,850 - 2,500 |
30,350 | (30,061) |
|
| (29,531) 29,531 - |
- | - | |
(1,681) 29,531 2,500 127,773 95,469 11,575 |
30,350 234,817 |
(30,061) 264,878 |
|
| 126,092 125,000 14,075 |
265,167 | 234,817 |
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
TJfMLt
DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
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. The COVID-19 pandemic, while having operational impacts, had no material financial impact and 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 Note 14.
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 make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
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.
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
2. NET INCOME
2022 2021 £ This is stated after charging: Depreciation of tangible fixed assets owned by the Charity 738
3. EMPLOYEES
The Charity had no employees during the year (2021: nil).
No Trustees were in receipt of remuneration in that role in the year (2021: nil) .
4. INCOME FROM CHARITABLE ACTIVITIES
Opera Festiva l
| Chorus Summer School Fees _less:_Bursaries Granted Tickets Advertising and Sponsorship Programmes and Merchandise Bars and catering Marquee and pavilion income |
2022 £ 2021 £ 45,203 - (30,350) - 247,409 167,186 17,654 12,671 10,826 8,602 22,149 14,829 6,885 4,735 |
|---|---|
319,776 208,023 |
£17,750 of Bursaries allowed as discounts against Summer School fees were through the restricted Patrick Shelley Bursary fund in accordance with the purpose of the fund. All other income from charitable activities relates to unrestricted funds.
5. INCOME FROM DONATIONS AND LEGACIES
| Friends of Dorset Opera Grants from other charities Individual donations and legacies Gift Aid received |
2022 2021 £ £ 35,000 35,000 26,000 15,805 98,672 110,666 20,338 16,540 |
|---|---|
| 180,010 178,011 |
All of the income from donations and legacies related to unrestricted funds with the exception of £19,750 (2021: £2,500) of grants, donations and associated Gift Aid received.
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(A company limited by guarantee)
DORSET OPERA
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
6. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Bank interest | 1,116 | 1,350 |
| All of the investment income related to unrestricted funds. | ||
| OTHER INCOME | ||
| 2022 | 2021 | |
| £ | £ | |
| Theatre Tax Relief | 139,464 | 49,219 |
| All of the other income related to unrestricted funds. |
7. OTHER INCOME
8. CHARITABLE ACTIVITY EXPENDITURE
Opera Festival
| Opera Production Cast & Crew Accommodation Emerging Artists Outreach Activities Marketing, Publicity and Hospitality Administration Governance Total |
2022 £ 2021 £ 421,178 327,208 83,640 52,682 10,500 11,575 - 6,600 78,832 52,852 14,959 12,905 2,274 2,160 |
|---|---|
611,383 465,982 |
All 2022 expenditure was through the General Fund. In 2021 £2,550 of the Outreach expenditure was made through the restricted Opera-in-Education fund and £4,050 through the designated Outreach fund, and £25,961 of the Opera Production expenditure was made through the COVID Risk fund. In each case this was in accordance with the purpose of the fund.
Ledger system costs have been redesignated as Administration from Governance: £518 of prior year costs have been reallocated in the comparatives.
9. GOVERNANCE COSTS
| GOVERNANCE COSTS | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Independent examiner's fees | 2,274 | 2,160 |
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
10. INDEPENDENT EXAMINER'S REMUNERATION
The remuneration of the Independent Examiner for the Independent Examination was £2,274 (2021: £2,160) including £330 for other accountancy services (£324 for 2021 services).
11. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Equipment At 1 October 2020 Additions Depreciation charge for the year Disposals At 30 September 2021 Additions Depreciation charge for the year Disposals At 30 September 2022 |
Cost Depreciation Carrying Amount £ £ £ 6,570 (2,242) 4,328 - - - - (657) (657) - - - |
| 6,570 (2,899) 3,671 1,950 - 1,950 - (738) (738) - - - |
|
8,520 (3,637) 4,883 |
12. DEBTORS
| Trade debtors Prepayments and accrued income CREDITORS: Amounts falling due within one year Trade creditors Expense Accruals Deferred Income Tax Liabilities |
2022 £ 2021 £ 17,886 4,900 140,458 50,981 |
|---|---|
| 158,344 55,881 |
|
| 2022 2021 £ £ 2,339 - 19,129 37,090 4,388 - - 2,030 |
|
| 25,856 39,120 |
13. CREDITORS: Amounts falling due within one year
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
14. STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
| Balance at | Balance at | Balance at 30 | ||||
|---|---|---|---|---|---|---|
| 1 | October | Transfers | September | |||
| 2021 | Income | Expenditure | in/out | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General Funds | 127,773 | 649,467 | (621,617) | (29,531) | 126,092 | |
| Designated funds (unrestricted) | ||||||
| Young Performers incl. Bursaries | 12,000 | - | - | 28,000 | 40,000 | |
| Wider Access Fund | 8,000 | - | - | 7,000 | 15,000 | |
| Outreach | 1,430 | - | - | 18,570 | 20,000 | |
| COVID Risk Fund | 74,039 | - | - | (74,039) | - | |
| Anniversary Fund | - | 50,000 | 50,000 | |||
| Total designated funds | 95,469 | - | - | 29,531 | 125,000 | |
| Total Unrestricted funds | 223,242 | 649,467 | (621,617) | - | 251,092 | |
| Restricted funds | ||||||
| Patrick Shelley Bursary fund_- income_ | 11,419 | 17,250 | - | - | 28,669 | |
| - applied against income (see below) | - | (17,250) | - | - | (17,250) | |
| - total | 11,419 | - | - | - | 11,419 | |
| Opera in Education | 156 | 2,500 | - | - | 2,656 | |
| Total Restricted Funds | 11,575 | 2,500 | - | - | 14,075 | |
| Total of funds | 234,817 | 651,967 | (621,617) | - | 265,167 | |
| STATEMENT OF FUNDS - PRIOR YEAR | ||||||
| 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 | 123,980 | - | (28,511) | - | 95,469 | |
| Total Unrestricted funds | 251,753 | 434,103 | (462,614) | - | 223,242 | |
| Restricted funds | ||||||
| Restricted Funds - all funds | 13,125 | 2,500 | (4,050) | - | 11,575 | |
| Total of funds | 264,878 | 436,603 | (466,664) | - | 234,817 |
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
14. STATEMENT OF FUNDS (CONTINUED)
Two restricted funds are maintained.
The Patrick Shelley Fund holds donations and grants directed to the award of bursaries to participants meeting necessary criteria at the Summer School. When drawn on this is applied to Bursaries, which, being discounts against our Summer School fees, is reported as negative income, as shown in the table above and in Note 4.
Donations and grants directed to support our Outreach programme are held in the Opera-in-Education Fund.
Three designated funds were set up in 2018 and have now been augmented to ensure that the activities to which they relate can be supported for the next two years. These funds are for the following purposes:
-
Young Performers - £40,000 (2021: £12,000) for Summer School students, including the previous bursaries fund, supplementing the restricted Patrick Shelley Fund.
-
Wider Access Fund - £15,000 (2021: £8,000) to support access to performances for those unable to afford the full ticket price, particularly young people.
-
Outreach - £20,000 (2021: £1,430) for the Outreach programme supplementing the restricted Opera-in-Education fund.
The Board intends to commission a new opera to mark the 50[th] anniversary of the founding of Dorset Opera (in its precursor form to the current Charity). The Board has designated a further fund of £50,000 for this purpose.
The COVID risk fund (£74,039 at end-2021) has been released as the future financial risk is not considered material.
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 2022 £ 2022 £ 2022 £ 2022 £ 4,883 - - 4,883 147,065 125,000 14,075 286,140 (25,856) - - (25,856) |
|---|---|
| 126,092 125,000 14,075 265,167 |
|
| 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 |
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DORSET OPERA
(A company limited by guarantee)
NOTES TO THE STATUTORY ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
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 (2021: £50,000) for consultancy services, and £4,511 (2021: £1,565) for the reimbursement of travel and subsistence expenses. At the year end £4,511 (2021: £27,565) remained in creditors.
Mrs Susannah Selby Bennett, a Trustee, received a gift authorised by the Board at a cost of £100 (2021: £nil) .
Harriet Kennedy, a relative of Mr Roderick Kennedy, a Trustee, received payments of £2,950 (2021: £1,000) for services as Property Master and Assistant Stage Manager, together with accommodation at a cost to the Charity of £726 (2021: £nil) .
Alex Kennedy, a relative of Mr Roderick Kennedy, a Trustee, received a payment of £504 (2021: £nil) for operational support services.
Leigh Rudkin, a connected person of Mr Roderick Kennedy, a Trustee, received a payment of £779 (2021: £nil) for operational support services, together with accommodation at a cost to the Charity of £598 (2021: £nil) .
In 2021 Ms Lynsey Docherty, a Trustee, received payments of £2,550 for consultancy services as part of the Opera-in-Education outreach project.
The Trustees, other than Mr Kennedy, were reimbursed £nil (2021: £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.
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