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2024-01-31-accounts

WILD ARTS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

Charity Registration Number 1158366

WILD ARTS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

CONTENTS

Page
Charity Reference and Administrative Details 1
Trustees' Annual Report 2 - 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 – 14

WILD ARTS

CHARITY REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 JANUARY 2024

Charity registration number 1158366
Trustees Caroline Compston
Clare Dobie (resigned 24 May 2024)
John Kennedy
Kate May
Silvia Melchior
Jill Pellew
Emma Stenning (resigned 10 September 2024)
Principal address South Green Farmhouse
Fingringhoe
Colchester
Essex
CO5 7DP
Independent examiner Miss J A Richardson FCA FCCA DChA
32 Award Road
Wimborne
Dorset
BH21 7NT
Bankers Santander Business Banking
Bridle Road
Liverpool
Merseyside
L30 4GB
Lloyds Bank
PO Box 1000
BX1 1LT

WILD ARTS

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2024

The trustees present their report and the financial statements of the Charity for the year ended 31 January 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ (FRS 102) in preparing their Annual Report and Financial Statements of the Charity.

Status

Wild Arts (previously Roman River Music) is a Charitable Incorporated Organisation (CIO), registered charity number 1158366, and is governed by a constitution dated 11 November 2014. Prior to this it was an Unincorporated Charity, registered charity number 1126395.

National Location

The principal address of the Charity is in England, at South Green Farmhouse, South Green Road, Fingringhoe, Colchester CO5 7DP.

Trustees of the Charity

The trustees who served during the year and up to the date of signing are as follows:

Caroline Compston Clare Dobie (resigned 24/5/24) Giles Job (resigned 21/6/23) John Kennedy (appointed 8/2/23) Kate May (appointed 8/2/23) Silvia Melchior (appointed 8/2/23) Jill Pellew Emma Stenning (appointed 8/2/23, resigned 10/9/24)

Appointment and recruitment of charity trustees

In selecting individuals for appointment as charity trustees, the charity trustees have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

New trustees are recruited by invitation following recommendations from trustees and officers, based on matching candidates’ skills, knowledge, experience and commitment to the current identified needs. New trustees are mentored by experienced members and given access to on-line and/or direct training in appropriate areas.

Objects and activities

The Charity’s objects are to advance, improve, develop and maintain public education in, and appreciation of, the art and science of music in all its aspects by any means the trustees see fit, including through the presentation of live music events.

We aim to promote the best in music and the arts for the enjoyment of all members of the community, and alongside this to promote awareness of the environmental impact of human activity.

To meet these aims, the activities of the Charity typically include:

WILD ARTS

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

Public benefit statement

The trustees have given due consideration to the Charity Commission’s published guidance on the Public Benefit requirement under the Charities Act 2011, and are satisfied that the Charity’s main activities described above are for the public benefit.

Activity Report

Overview

The charity changed its name on 31 October 2023 to Wild Arts, which is now the unifying brand for all its artistic activities. The Roman River Festival name and activities continues as before, now as a part of Wild Arts.

Artistic review

The main strands of the Charity’s public activity are Wild Arts opera performances at Layer Marney and on tour, opera evenings, the Roman River Festival and other activities.

The amount of activity in 2023/4 significantly increased, mainly as a result of incorporating a full year of Wild Arts opera activity, but also an increase in number of performances of both our main opera production and opera evenings.

Old Library series (Roman River spring concerts). Three well attended and received concerts by professional musicians were held in Spring 2023 in the Old Library, Colchester.

Opera evenings. Our opera evenings are dramatically linked selections from a wide range of operatic works. Thirty-one performances were held this year.

Elixir of love. Our new production this year was Donizetti’s Elixir, adapted by Orlando Jopling for 8 singers and chamber orchestra. We gave nine performances at Layer Marney and on tour, including our debut at Thaxted and Hever music festivals.

Cosi fan tutte . We took an opportunity to revive last year’s production of this well-loved Mozart opera.

Roman River Festival. The Festival comprised 8 chamber music concerts between 26 September and 1 October across Wivenhoe, Fordham, Colchester Arts Centre, Wissington and Coggeshall. All were well attended and received popular and critical praise.

Messiah . We devised a new semi-staged performance of Messiah, and gave 3 performances, as well as a fund-raising event.

Schools programme. Four primary schools were involved in a 6-week project, which led to 324 primary school pupils attending the dress rehearsal of Elixir at Layer Marney Tower.

Community programme . A number of community events were associated with the Roman River Festival in 2023, including a masterclass, a Bach to Baby event at Layer Marney and outreach activities at Lexden Primary School Music Festival.

Young Artists Programme . Four young singers participated in our first Young Artists Programme, in which musicians have the opportunity to understudy a principal role in our Summer Opera, perform a new role as part of the ensemble, work with our outreach team and receive vocal and acting support from an eminent coach or patron.

Audience . Events were well received and well attended. Across our opera performances, we estimate we reached an audience of over 6,000, where 36% of our audience were going to opera for the first time. Our ticket prices ranged from £20 to £85 with over half the tickets sold for under £40.

Management review

The Charity’s core activities are carried out by a small team of appropriately skilled persons, including an artistic director, paid producers and a core team of volunteers. Their work is overseen by the board of trustees. This team is supplemented,

WILD ARTS

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

for performances and work with schools and other groups, by a larger team of volunteers who give generously of their time and expertise.

Orlando Jopling continued as Artistic Director for Wild Arts throughout the year.

Much of the administrative and financial work of the charity continued to be undertaken by highly qualified volunteers, though we engaged paid finance assistance in January 2024 as long-standing and valued volunteers retired.

Financial review

Overall, despite the significant growth, the finances of the Charity remain on a viable footing. Reserves are in line with the current reserves policy which is designed to ensure that sufficient reserves are in place to meet contractual commitments in the event of unforeseen circumstances and can only be used in mitigation with Board agreement. The Board reviews the reserves policy annually, and in the light of the expanded range of activities of the charity, changed the policy in July 2024. The current policy set by the Board calls for ‘accumulated reserves of a minimum of 3 months (or a quarter of the annual) expenditure budgeted for the current year, which should be unrestricted, held in cash and available throughout the year’. The outcomes for 2023/24, with free reserves of £81,855, were broadly in line with this policy, though the Board will be looking to focus on building reserves in future years, to ensure they continue to track exp. Risks and uncertainties are reviewed regularly. Current key risks identified are: insufficient or reduced funding from government or public sources, funding and sponsorship; uncertain financial climate; loss of key personnel (staff, trustees and volunteers) and gaps in Board knowledge or experience. Action has been taken to mitigate all identified risks.

The trustees are indebted to the generous support of the Supporters, Patrons and Benefactors of Wild Arts. We also acknowledge with grateful thanks the following bodies: which made the year’s activities possible: Essex County Council Arts & Cultural Fund, Essex Community Foundation, Colchester City Council, Hervey Benham Charitable Trust, FSJ Charities, Garrick Charitable Trust, Suffolk Community Fund (Orpheus Fund), The Iris Rose Holley Charitable Trust, The Charman Family Charitable Trust, and the Fenton Arts Trust.

Plans for future periods

The Charity plans to continue its work in accordance with its existing aims and objectives, including:

Governance

Trustees come from a variety of public and private sector backgrounds. The range and balance of trustees’ skills and experience are regularly reviewed to ensure full coverage of governance responsibilities. Each trustee takes the lead in overseeing an area of the Charity’s activities appropriate to their skills and experience. New trustees receive induction and training in their roles.

Trustees’ responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which

WILD ARTS

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.

In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the board of trustees

John Kennedy Trustee

Date: 16 October 2024

WILD ARTS

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WILD ARTS

Independent Examiner's Report to the Trustees of Wild Arts

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 January 2024 which are set out on pages 7 to 14.

This report is made solely to the charity's trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity's members as a body for my independent examiner's work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the Charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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 accounts to be reached.

Miss J A Richardson FCA FCCA DChA

32 Award Road Wimborne Dorset BH21 7NT

Date: 16 October 2024

WILD ARTS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 JANUARY 2024

2024
2024		 2024 2023 2023 2023
Notes Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Income from:
Donations and legacies 2 86,911 25,051 111,962 66,708 24,137 90,845
Charitable activities 3 274,478
-		 274,478 26,506 2,150 28,656
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
Total income 361,389
25,051		 386,440 93,214 26,287 119,501
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
Expenditure on:
Raising funds 19,559
-		 19,559 2,950 - 2,950
Charitable activities 4 322,696
25,051		 347,747 97,055 26,287 123,342
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
Total expenditure 342,255
25,051		 367,306 100,005 26,287 126,292
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
Net movement in funds 19,134
-		 19,134 (6,791)
-		 (6,791)
Reconciliation of funds:
Total funds brought forward 62,721
-		 62,721 69,512 - 69,512
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
Total funds carried forward 81,855
-		 81,855 62,721 - 62,721
––––––– ––––––– ––––––– ––––––– ––––––– –––––––

The notes on pages 9-14 form part of these financial statements.

WILD ARTS

BALANCE SHEET

AS AT 31 JANUARY 2024

2024 2023
Notes £ £
Current assets
Debtors 8 2,116 -
Cash at bank and in hand 109,747 87,833
––––––– –––––––
111,863 87,833
Creditors: amounts falling due
within one year 9 (30,008) (25,112)
––––––– –––––––
Net assets 11 81,855 62,721
––––––– –––––––
Charity funds
Unrestricted funds 11 81,855 62,721
Restricted funds 11 - -
––––––– –––––––
Total funds 11 81,855 62,721
––––––– –––––––

The financial statements were approved by the trustees on

Signed on behalf of the trustees

John Kennedy

Trustee Date: 16[th] October 2024

The notes on pages 9 to 14 form part of these financial statements.

WILD ARTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2024

1 Summary of significant accounting policies

(a) General information and basis of preparation

Wild Arts is a Charitable Incorporated Organisation incorporated in England. The address of the Charity is given in the charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are detailed in the Trustees’ Annual Report on pages 2 - 5.

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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared 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.

(b) Funds

Unrestricted funds 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.

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 aim and use of the restricted funds are set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned from fundraising events to raise funds for the Charity.

WILD ARTS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

(e) Debtors and creditors receivable / payable within one year

Debtors and creditors are recorded at transaction price.

(f) Tax

The Charity is exempt from tax on its charitable activities.

(g) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the Charity to be able to continue as a going concern.

(h) Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

(i) 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.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

WILD ARTS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

2 Income from donations and legacies

2024 2024 2024 2023 2023 2023
Unrestricted
Restricted		 Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Gifts 55,294 5,776 61,070 51,273 - 51,273
Tax recovered under Gift Aid 11,517 - 11,517 10,435 - 10,435
Grants 20,100 19,275 39,375 5,000 24,137 29,137
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
86,911 25,051 111,962 66,708 24,137 90,845
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
ncome from charitable activities
2024
2024
2024
2023
2023		 2023
Unrestricted Restricted Total
Unrestricted		 Restricted Total
Funds Funds Funds Funds Funds Funds
£ £ £
£
£		 £
Box office 271,641
-		 271,641
25,945
-		 25,945
Programme sales 1,680
-		 1,680
520
-		 520
Events 590 - 590
-		 - -
Individual Sponsorship - - - - 2,150 2,150
Advertising - - - - - -
Miscellaneous income 567
-		 567
41
-		 41
––––––– ––––––– –––––––
–––––––		 ––––––– –––––––
274,478
-		 274,478
26,506
2,150		 28,656
––––––– ––––––– –––––––
–––––––		 ––––––– –––––––
Analysis of expenditure on charitable activities
2024 2024 2024 2023 2023 2023
Unrestricted
Restricted		 Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Performance costs 243,140 19,578 262,718 28,850 18,287 47,137
Fees 64,633 5,473 70,106 20,812 8,000 28,812
Grant to Wild Arts Trust - - - 40,900 - 40,900
Administrative expenditure 14,923 - 14,923 6,493 - 6,493
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
322,696 25,051 347,747 97,055 26,287 123,342
––––––– ––––––– ––––––– ––––––– ––––––– –––––––

3 Income from charitable activities

WILD ARTS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

5 Independent examiners’ remuneration

Independent examiners’ remuneration amount to an independent examination fee of £800 (2023 - £800) and a fee of £nil (2023 – £360) for other work.

6 Trustees and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration or expenses during the year (2023 - £Nil). Orlando Jopling, as Artistic Director, received a fee of £10,900 (2023 - £2,500). In addition, he received fees in respect of musical performances of £11,075 (2023 - £1,613) and expenses of £4,115 (2023 - £Nil).

7 Staff costs and employee benefits

The average monthly number of employees and full-time equivalents (FTE) during the year was as follows.

2024 2024 2023 2023
Number FTE Number FTE
Charitable activities & fund-raising - - 1 0.8
––––––– ––––––– ––––––– –––––––
The total staff costs and employee benefits were as follows.
2024 2023
£ £
Salaries - 20,000
Defined contribution pension costs - -
––––––– –––––––
- 20,000
––––––– –––––––
No employee received total employee benefits of more than £60,000.
8 Debtors
2024 2023
£ £
Other debtors 2,116 -
––––––– –––––––

WILD ARTS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

9 Creditors: amounts falling due within one year
2024 2023
£ £
Deferred income (note 10) 26,592 24,222
Other creditors 3,416 890
––––––– –––––––
30,008 25,112
––––––– –––––––
10 Deferred income
2024 2023
£ £
At 1 February 2023 24,222 21,645
Additions during the year 26,592 24,222
Amount released to income (24,222) (21,645)
––––––– –––––––
At 31 January 2024 26,592 24,222
––––––– –––––––

Income is recognised at fair value when the Charity has entitlement after any performance conditions have been met.

11 Fund reconciliation

Unrestricted funds

Unrestricted funds
Balance at Income Expenditure Balance at
01.02.23 31.01.24
£ £ £ £
Unrestricted 62,721 361,389 342,255 81,855
––––––– ––––––– ––––––– –––––––
Restricted funds
Balance at Income Expenditure Balance at
01.02.23 31.01.24
£ £ £
£
Essex County Council Arts & Cultural Fund - 6,000 6,000 -
Essex Community Foundation - 1,600 1,000
-
Hervey Benham Charitable Trust - 6,000 6,000 -
FSJ Charities - 3,175 3,175 -
Garrick Charitable Trust - 2,500 2,500 -
Sundry donations - 5,776 5,776
-
––––––– ––––––– ––––––– –––––––
Total restricted funds - 25,051 25,051 -
––––––– ––––––– ––––––– –––––––

Funders contributed funds to the implementation and development of the Charity’s Young Artists, Schools Opera and Education and Community programme with children, young people and other community groups.

WILD ARTS

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2024

12 Analysis of net assets between funds Analysis of net assets between funds
2024
2024		 2024 2023 2023 2023
Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £
Cash 111,863
-		 111,863 63,611 24,222 87,833
Debtors 2,116
-		 2,116 - - -
Creditors (30,008) - (30,008) (890) (24,222) (25,112)
––––––– ––––––– ––––––– ––––––– ––––––– –––––––
81,855
-		 81,855 62,721 - 62,721
––––––– ––––––– ––––––– ––––––– ––––––– –––––––

13 Related party transactions

Aggregate donations and ticket sales of £5,989 were received from 4 trustees without conditions on an arm’s length basis. There were no further transactions with related parties in the year. There were no amounts due from Trustees or related parties at the year end date.

14 Contingent asset

An application is in progress for theatre tax relief. There is uncertainty regarding the amount and timing of the relief and an asset has not been recognised in the financial statements to 31 January 2024.