## CAMBRIDGE HANDEL OPERA COMPANY DIRECTORS / TRUSTEES ANNUAL REPORT FOR THE PERIOD ENDING 31 AUGUST 2024 (Charity Number – 116600 / Company Number – 09717878) ## OBJECTIVES AND ACTIVITIES The objects of the charity are the advancement for the public benefit of education in the field of music, with particular reference to the music of the Baroque period. The principal activity is to stage productions of Baroque operas, with a particular emphasis on works by Handel. In addition, educational activities are organized to facilitate learning associated with each production, including partnerships with a number of schools within Cambridge. ## ACHIEVEMENTS AND PERFORMANCE The highlight of the year was the performance in the chapel of Trinity College Cambridge of John Weldon’s The Judgment of Paris. This was a highly successful performance with a packed audience, receiving a glowing review in the Times newspaper and the Cambridge Independent. The partnership with the Academy of Ancient Music here continues to highly effective and included a separate recording of this rarely heard gem. Prior to the performance, a Colloquium focused on The Judgement of Paris was held on 25[th] October as part of the officials series at the Music Faculty. In parallel to delivering The Judgement of Paris, the trustees continued to debate at length what the future of the charity should be and what it would need to prioritize to continue thriving in future. This culminated in the securing of cored funding for the following three years from two organizations (Maria Bjӧrnson Memorial Fund and the Kathleen Hannay Memorial Charity), a plan to recruit a new more senior colleague to take ownership of the week to week running of CHOC and a prioritization both of the educational aspects of our work and the Cambridgefocused nature of the charity. ## FINANCIAL REVIEW CHOC reported a deficit of £22,984 for the year (2023: Surplus of £13,590) which reduced our Reserves to £23,436 (2023: £46,420), all unrestricted. Total income for the period was £29,443 (2023: 31,750), made up of £18,000 grant income, £4,971 donations received, £6,245 from charitable activities and £159 bank interest received. ## Reserves Policy: The staging of productions gives rise to substantial costs, thus needing reserves in place to ensure that the charity is able to meet all its expenses when committing to a production and associated educational programme. As a recently formed small charity we are at a stage of needing to build reserves for the longterm benefit of the charity. Our target is to reach a level where the reserves held after a production and associated educational programme is completed would be sufficient to entirely fund the next production and educational programme. This will vary based on the planned events, but we typically would be looking to reserves of around £70,000 after each production has been staged. It is expected that it will take many years and several productions to build up to this level of reserves. Therefore, whilst seeking to maximise reserves and ensure sufficient funding is in place, our focus when considering reserves currently is to carefully review planned expenditure and ensure the charity will be capable of meeting the cost prior making commitments. STRUCTURE, GOVERNANCE AND MANAGEMENT ## Governing Document: Cambridge Handel Opera Company is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29th July 2015. It is registered as a charity with the Charities Commission. The directors and trustees are also the members of the company, each of whom agrees to contribute £1 in the event of the charity winding up. ## Appointment of trustees: All trustees are also directors of the company. The members may appoint any person willing to act as a director and trustee, subject to a minimum of three directors and a maximum of nine. Directors are appointed for a term of three years, although the term of appointment for the first directors ranged from two to four years. Any director reaching the end of their term may be re-elected by the members, although he or she may not serve more than three consecutive terms except where it is considered to be in the best interests of the charity for a director to serve an additional term. Organisation: The board of directors administers the charity. The board meets regularly. A Company Manager assists in the administration of the charity. ## REFERENCE AND ADMINISTRATIVE DETAILS |CharityNumber:|1166000| |---|---| |CompanyNumber:|09717878| |Registered office:|38 Rustat Avenue,Cambridge,CB1 3PF| |Directors and trustees:
-
Chair
-
Treasurer (and trustee)
-
Trustees
-
Artistic Director|Mr Seth Williams
Mr Liam Findlay
Professor Peter Holman MBE
Mr Michael Darvell
Ms Amy Khlor
Mr Ian Maconochie (appointed 24 October 2024)
Professor David McKitterick (resigned 6 September
2023)
Mr Richard Perkins (resigned 28 October 2024)
Mr Julian Perkins| APPROVED BY THE TRUSTEES ON: 15 MAY 2025 Cambridge Handel Opera Company (A company limited by guarantee) Report and Financial Statements Period ending 31 August 2024 Charity number 1166000 Company number: 09717878 Cambridge Handel Opera Company Period ended 31 August 2022 ## **Cambridge Handel Opera Company** ## **Report of the trustees for the year ending 31 August 2024** The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 August 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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) (effective 1 January 2015). ## _**Our purposes and activities**_ The objects of the charity are the advancement for the public benefit of education in the field of music, with particular reference to the music of the Baroque period. The principal activity is to stage productions of Baroque operas, with a particular emphasis on works by Handel. In addition, educational activities are organized to facilitate learning associated with each production, including partnerships with a number of schools within Cambridge. ## _**Achievements and performance**_ The highlight of the year was the performance in the chapel of Trinity College Cambridge of John Weldon’s The Judgment of Paris. This was a highly successful performance with a packed audience, receiving a glowing review in the Times newspaper and the Cambridge Independent. The partnership with the Academy of Ancient Music here continues to highly effective and included a separate recording of this rarely heard gem. Prior to the performance, a Colloquium focused on The Judgement of Paris was held on 25th October as part of the officials series at the Music Faculty. In parallel to delivering The Judgement of Paris, the trustees continued to debate at length what the future of the charity should be and what it would need to prioritize to continue thriving in future. This culminated in the securing of cored funding for the following three years from two organizations (Maria Bjӧrnson Memorial Fund and the Kathleen Hannay Memorial Charity), a plan to recruit a new more senior colleague to take ownership of the week to week running of CHOC and a prioritization both of the educational aspects of our work and the Cambridge-focused nature of the charity. ## _**Financial review**_ CHOC reported a deficit of £22,984 for the year (2023: Surplus of £13,590) which reduced our Reserves to £23,436 (2023: £46,420), all unrestricted. Total income for the period was £29,443 (2023: 31,750), made up of £18,000 grant income, £4,971 donations received, £6,245 from charitable activities and £159 bank interest received. 1 Cambridge Handel Opera Company Period ended 31 August 2022 ## _**Reserves policy**_ The staging of productions gives rise to substantial costs, thus needing reserves in place to ensure that the charity is able to meet all expenses when committing to a production and associated educational programme. As a recently formed small charity we are at a stage of needing to build reserves for the long-term benefit of the charity. Our target is to reach a level where the reserves held after a production and associated educational programme are completed would be sufficient to entirely fund the next production and educational programme. This will vary based on the planned events, but typically would be looking to reserves of around £70,000 after each production has been staged. It is expected that it will take many years and several productions to build up to this level of reserves. Therefore, whilst seeking to maximise reserves and ensure sufficient funding is in place, our focus when considering reserves currently is to carefully review planned expenditure and ensure the charity will be capable of meeting the proposed expenditure prior to committing to the expenditure. ## _**Reference and administrative details**_ Charity number: 1166000 Company number: 09717878 Registered Office: 38 Rustat Avenue, Cambridge CB1 3PF ## _**Directors and trustees**_ The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows: Chair: Mr Seth Williams Treasurer: Mr Liam Findlay Trustees: Professor Peter Holman MBE Mr Michael Darvell Ms Amy Klohr Mr Ian Maconochie (appointed 24 October 2024) Professor David McKitterick (resigned 6 September 2023) Mr Richard Perkins (resigned 28 October 2024) **Artistic Director:** Mr Julian Perkins ## _**Structure, Governance and Management**_ Governing Document: Cambridge Handel Opera Company is a company limited by guarantee governed by its Memorandum and Articles of Association dated 4 August 2015. It is registered as a charity with the Charities Commission. 2 Cambridge Handel Opera Company Period ended 31 August 2022 The directors and trustees are also the members of the Company, each of whom agrees to contribute £1 in the event of the charity winding up. ## Appointment of trustees: All trustees are also directors of the company. The members may appoint any person willing to act as a director and trustee, although there must be a minimum of three directors and a maximum of nine. Directors are appointed for a term of three years, although the term of appointment for the first directors ranged from two to four years. Any director reaching the end of their term may be re-elected by the members, although he or she may not serve more than three consecutive terms except where it is considered to be in the best interests of the charity for a director to serve an additional term. ## Organisation: The board of directors administers the charity. The board meets regularly. A Company Manager assists in the administration of the charity. ## _**Trustees’ responsibilities in relation to the financial statements**_ The directors and trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - ● prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of any corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 3 Cambridge Handel Opera Company Period ended 31 August 2022 By order of the board of trustees S Williams (Chair) 15 May 2025 4 Cambridge Handel Opera Company Period ended 31 August 2022 ## **Cambridge Handel Opera Company** ## **Statement of Financial Activities (including income and expenditure account) for period ending 31 August 2024** |Note
Income:
Donations and
legacies
3
Charitable activities
Investments
Total
Expenditure:
Raising funds
Charitable activities
Other
Total
Net
income/(expenditure)
and net movement in
funds for the year
Reconciliation of
funds:
Total funds brought
forward
Total funds carried
forward|Unrestricted
Funds
2024
£
Restricted
Funds
2024
£
Total
Funds
2024
£
Total
Funds
2023
£
22,971
-
22,971
31,591
6,245
-
6,245
-
227
-
227
159| |---|---| ||29,443
-
29,443
31,750
-
-
-
-
36,410
-
36,410
650
16,017
-
17,510
17,510| ||52,427
-
52,427
18,160| ||(22,984)
-
(22,984)
13,590| ||46,420
-
46,420
32,830| ||23,436
-
23,436
46,420| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 5 Cambridge Handel Opera Company Period ended 31 August 2022 ## **Cambridge Handel Opera Company** ## **Balance Sheet as at 31 August 2024** ||Note|Total|funds 31|Total funds 31| |---|---|---|---|---| |||August 2024||August 2023| |||£|£|£| |Current Assets:||||| |Debtors & Prepayments|5||564|564| |Cash at bank and in hand|||22,872|45,856| |Total Current Assets|||23,436|46,420| |Liabilities:||||| |Creditors falling due within one|6||-|-| |year||||| |Net Current Assets|||23,436|46,420| |Total assets less current liabilities|||23,436|46,420| |Net Assets|||23,436|46,420| |The funds of the charity:|8|||| |Unrestricted income funds|||23,436|
46,420| |Restricted income funds|||-|-| |Total Charity Funds|||23,436|
43,420| These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. For the year ending 31 August 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The notes at pages 7 to 9 form part of these accounts. L Findlay 15 May 2025 6 Cambridge Handel Opera Company Period ended 31 August 2022 ## **Notes on the accounts** ## **1 Accounting Policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: - a) Basis of preparation - 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Cambridge Handel Opera Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The accounts are prepared on a going concern basis. There are no material uncertainties about the charity’s ability to continue, as the trustees ensure careful management of the charity’s funds to ensure that any projects committed to are within the existing means of the charity. - b) Income Income is recognised when the charity has received, or has entitlement to the funds and it is probable that the income will be received and the amount can be measured reliably. Income received in advance of an operatic performance or provision of other specified service it is deferred until the criteria for income recognition are met. - c) 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. - d) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Costs of raising funds comprise the costs arranging fundraising concerts and other fundraising activities. - Expenditure on charitable activities includes the costs of performances, and other educational activities undertaken to further the purposes of the charity and their associated support costs. - Other expenditure represents those items not falling into any other heading. This includes costs in respect of the Company Manager and Artistic Director, whose roles do involve assisting in fundraising (making grant applications, organizing fundraising events and administering the Friends Scheme), and organizing charitable activities. As proportion of time spent on the different activities 7 Cambridge Handel Opera Company Period ended 31 August 2022 throughout the year varies, the cost of the Company Manager and Artistic Director (except where there is a specific payment in respect of an event or activity) cannot accurately be allocated between the costs of raising funds and expenditure on charitable activities; it is all included within other expenditure. - e) Debtors - Trade and other debtors are recognised at the settlement amount due. - f) Creditors and provisions - Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. ## **2 Legal status of the Charity** The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **3 Sources of Income** |**of Income**|| |---|---| |Donations and legacies
Grants
Donations
Gift Aid
Total|2024
£
2023
£
18,000
-
4,971
31,591
-
-| ||22,971
31,591| The charity benefits greatly from the involvement of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. ## **4 Related party transactions** None of the trustees have been paid any remuneration or received any other benefits for their work as trustees. ## **5 Debtors** |Other debtors
Prepayments
Total|2024
£
2023
£
-
-
564
564| |---|---| ||564
564| 8 Cambridge Handel Opera Company Period ended 31 August 2022 ## **6 Creditors: amounts falling due within one year** |Other creditors
Total|2024
£
2023
£
-
-| |---|---| ||-
-| ## **7 Corporation Tax** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **8 Analysis of charitable funds** Analysis of movements in unrestricted funds |General fund
Total|Balance
at start
of period
Income
Expenditure
Transfers
Balance at
31 August
2024
£
£
£
£
£
46,420
29,443
(52,427)
-
23,436| |---|---| ||46,420
29,443
(52,427)
-
23,436| ## **9 Analysis of net assets between funds** |Tangible fixed assets
Cash at bank and in hand
Other net current
assets/(liabilities)
Total|General
Fund
Designated
Funds
Restricted
Funds
Total
£
£
£
£
-
-
-
-
22,872
-
-
22,872
564
-
-
564| |---|---| ||23,436
-
-
23,436| 9 CHARITY COMMISSION FOR ENGLA￿1 ANO WAIES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Cambridge Handg1 Opera Company On accounts for the year rKled 31 August 2024 Charity no (rfany) 116600 Set out f>n paggs I report to the trustees on my examination of the accounts of the above charty ('the Trusv) for the year ended 3110812024. R￿ponSIbIlItIeS and basls of report As the ¢harty's trustees, you are responsible for the preparation of Ihe acwunts in aC￿rdance with the requirements of the Charilies knt 2011 {Yhe Act.). I report In resped of my examination of the Trust's accounts Carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all th8 applicable Directions given by the Charity Commission under section 145(5Xb) of the Act. Independent I have completed my examination. I confim that no material matters hav8 examinerfs ststsment come to my attention in connection with the examination which gives me cause to believe that in, any material respect- th8 accounting re¢ords were not kept in accordance with section 130 of the Charities Act- or the 8¢¢ounts did not accord with the accounting r8o)rds' or the accounts did not comply with the applicable requlrements concerning the fonm and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf vtevi which is not a matter Considered as part of an independent examination. I hav8 no conc8rns and have come across no other matters in connectlon with the examination to which attention shoukl be drawn in this r8POrt in order to enable a prop6r understanding of the aC￿unts to be reached. Signed: tosr Name: Relevant professlonal quallficatlon{s) or body (If any): Address: IER Oct 2018 Section B Disclosure Only complete if the examiner needs lo highlight material matters of concem (see CC32, Independent examln8tlon of charity accounts: directions and guidance for examiners). Glvo hero brlef details of any items that the oxamlner wishes to disclose. IER Oct 2018