**Company registration number 06770652 (England and Wales) Charity registration number 1127392 (England and Wales)** # **THE MERRY OPERA COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **THE MERRY OPERA COMPANY LIMITED** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Laura Booty|| |---|---|---| ||Michael De Styrcea|| ||Josephine Glover|(Appointed 20 June 2025)| ||Angela Hill|| |**Secretary**|Matthew Quirk|| |**Country of incorporation**|United Kingdom|06770652| ||(England and Wales)|| |**Charity registration**|England and Wales|1127392| |**Registered office**|Vexour Farm|| ||Chiddingstone|| ||Edenbridge|| ||Kent|| ||TN8 7BB|| |**Independent examiner**|Cadence Accounting Limited|| ||Suite 3|| ||157 Station Road East|| ||Oxted|| ||Surrey|| ||RH8 0QE|| |**Accountants**|Cadence Accounting Limited|| ||Suite 3|| ||157 Station Road East|| ||Oxted|| ||Surrey|| ||RH8 0QE|| ## **THE MERRY OPERA COMPANY LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 11| ## **THE MERRY OPERA COMPANY LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ The trustees present their annual report and financial statements for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)". ## **Objectives and activities** The principal activity of the charity in the year under review was to advance the education and to promote the appreciation and enjoyment of the public in music, theatre and the performing arts with particular but not exclusive attention to opera. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ In 2025 we toured three productions across England: 17 performances of Fledermaus in England in January, February and March, 8 performances of the dramatized Messiah in November and December and 2 performances of Hansel and Gretel in December. We also held two gala performances, one of them in Northern Ireland. In 2026 we will be touring a production of Cosi fan tutte with 18 performances in the Spring and Summer and will be reviving the Messiah production to tour across southern England in November and December. We are looking also at reviving the Hansel and Gretel production. ## **Financial review** The result for the year was a net deficit of £14,404 (2024: income of £25,812) and the funds carried forward amounted to £967 (2024: £15,371) ## _Reserves policy_ It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place providing reasonable assurance against fraud and error. ## **Structure, governance and management** The charity is controlled by its governing document, a deed of Trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Laura Booty Michael De Styrcea Josephine Glover (Appointed 20 June 2025) Angela Hill Helena Woodhouse (Resigned 20 June 2025) - 1 - THE MERRY OPERA COMPANY LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 None of the Im8lees has any benefi¢ièl Int￿est m Ihe company. All of Ihe Tnjstees are n*rtiers of Ihe conwany lind guarAnlep ti> conlrjbule £1 in the evenl ol a ￿nd￿9 up. 7he re.port was pwred In ￿0)rd￿F￿? wth the speoal prov1￿on5 wrth5n Part 16 01 the Act 2C(6 The trus¢ees' rwrt Was ¥PPF¢*¥od by Ih? B￿rd of Truil An9B& k¢HI Trust•• ## **THE MERRY OPERA COMPANY LIMITED** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE MERRY OPERA COMPANY LIMITED** I report to the trustees on my examination of the financial statements of The Merry Opera Company Limited (the charity) for the year ended 31 December 2025. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Ryan Evans Cadence Accounting Limited** Suite 3 157 Station Road East Oxted Surrey RH8 0QE Date: ............................20 May 2026 - 3 - ## **THE MERRY OPERA COMPANY LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **(INCLUDING INCOME AND EXPENDITURE ACCOUNT)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|**3**|54,118|61,325| |Charitable activities|**4**|99,608|108,163| |Other income|**5**|24,547|-| |**Total income**||178,273|169,488| |**Expenditure on:**|||| |Raising funds|**6**|182,196|131,234| |Charitable activities|**7**|10,481|12,442| |**Total expenditure**||192,677|143,676| |**Net income/(expenditure) and movement in funds**||(14,404)|25,812| |**Reconciliation of funds:**|||| |Fund balances at 1 January 2025||15,371|(10,441)| |**Fund balances at 31 December 2025**||967|15,371| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - THE MERRY OPERA COMPANY LIMITED BALANCE SHEET AS A T 31 DECEMBER 2025 2026 2024 urnpnt a84ets Debtors Cash * bHnk and m hand 12 537 5.781 26,296 6.298 35J61 r•dEtors: omounts falllrKa wlthln one year 13 15,3311 119.9WI Not ¢urreTrt 4s3ets 15.371 The fimd8 of lh¢ ¢harlty UnrostrKa&J Iwi(t6 14 15.371 15,371 Tlie conipany L3 enlrtle(J to the ex6mpl￿rt fri)m lh8 audbt r8Quir￿n1 cCdl•'i￿e kn sedkjn 477 ofihe Companes Ad 2￿, for Ihe ye¥ ended 31 Decemb&r 2025 The direa%)ts acknowledge theK tes￿1￿￿.1rtIes for gJmthnG with Ihe re4uir¢mnts of Cryan4e5 Ad 21 Ih ￿Spect lo a￿unlIng Tecor(15 and the pTrpSrat￿n of financjal Stalew￿nts. The mEThTbvts Ilove not requwed Ihe c4)ffyry lu obiaNI an audit ol ts ffinandal staietrnftts yfrar m weslwi in £o¥dance Se￿￿1n 476 These financial #•tewF*nfs have Deon ￿pa{•d In fhe kwo¥L8ions appr1￿bI￿ tu su*t to gmdl colryanies touin* Tht finanoal state￿￿1$ ¥¥ere appioved by the It￿te¢S oft ,..........._.._.... An9ela Hll Trnstee **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **Charity information** The Merry Opera Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Vexour Farm, Chiddingstone, Edenbridge, Kent, TN8 7BB. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up. ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and at least 12 months from the date of these accounts by means of financial support. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 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. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 7 - ## **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Donations and gifts|6,418|39,536| |Grants|47,700|21,789| ||54,118|61,325| ## **4 Income from charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Charitable activities**||| |Theatre productions|99,608|108,163| |**Other income**||| ||**Unrestricted**|**Unrestricted**| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Other income|24,547|-| - **5 Other income** - 8 - ## **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **6 Expenditure of raised funds** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Cost of productions**||| |Productions|174,409|126,261| |Advertising|7,787|4,973| ||182,196|131,234| ## **7 Expenditure on charitable activities** |||**Charitable**|**Charitable**| |---|---|---|---| |||**activities**|**activities**| |||**2025**|**2024**| |||**£**|**£**| ||**Direct costs**||| ||Travel|2,130|1,818| ||General admin expenses|588|473| ||Resources expended|1,238|4,075| ||Accountancy|5,289|5,186| ||Bank charges|150|8| ||Computer costs|335|161| ||Insurance|751|721| |||10,481|12,442| ||**Analysis by fund**||| ||Unrestricted funds|10,481|12,442| |**8**|**Net movement in funds**|**2025**|**2024**| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Fees payable for the independent examination of the charity's financial||| ||statements|1,700|1,700| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 9 - ## **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **10 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Debtors** |**12**
**Debtors**||| |---|---|---| |**Amounts falling due within one year:**
Other debtors
**13**
**Creditors: amounts falling due within one year**
**Notes**
Borrowings
Deferred income|**2025**
**£**
537
**2025**
**£**
5,331
-
5,331|**2024**
**£**
9,065| |||**2024**
**£**
(6,040)
26,030| |||19,990| ## **14 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
15,371
178,273
(192,677)
967
**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
(10,441)
169,488
(143,676)
15,371| |---|---| - 10 - ## **THE MERRY OPERA COMPANY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_ ## **15 Related party transactions** There were no disclosable related party transactions during the year (2024 - none). - 11 -