Cornpanv registration nutnber." 09327941 Charifv registfdiion numbtr.. 11661?1 Operasonic Cyf IA companv limiied by guarantee) A[￿U&l Report and Financial Statements for the Year Ended 5 .4pTiI ?0?5 HSJ .4ccountsnts Limited Severn House Hazell DrI￿c PIO 8FY Operasonic Cvf Contents Trusi¢es' Report I to8 Independent Examinerfs Report Statement of Finatkcial.4clLVities Ioio 11 Balanc¢ Sheei Noies to the Fin3n¢ial Stat¢menLS 13to 23 Operasonie Cyf Trustees, Report The trustee5. who are di￿[￿r$ for the purposes of ¢ompwJy laiv. present the a[￿Ual report togeih¢r wilh the financial statements of the tharitable company for the Jear end¢d 5 April 20?5. Objectii'es snd actiYitie5 Objec'ls cims Objecis and aiffl5 To advance education for th¢ public benefit by the promotion of tb¢ arts, in pani¢vlar but not exclusively oper4 and for su¢h other ch2ritable purposes a5 the company njay from tim¢ to titne d¢cid¢. Vision Operasonic s vi510tI 15 of a diverse ¢ommunity who come tooeth¢r through S￿rI and music 10 create, celebrate, atid groiy. Purpose Operdsonic exisis to inspire people lo sccess. develop and shar¢ their creati%'ity' through mLlSlC so thai everyone living. workin8 or a￿1villg in our city knows they are a welcotn¢ and valued pan of S'ewTort life and of Il'elsh Culture. lission Our niission 1$ 10 ireaie opponunilies for people io use their creative power to tell stories atld celebrate their comn)unities and open up music as a mLans of 5elf-¢xpression. Hoii. we do our work 'e belies"e creatiYitK' is a hurnan right. It enables imagtJthrio#. curiositv. and agenc￿. and en¢ourages us ￿ think diff¢r¢ntly and be empathetic. Our Work has parii¢ipation at its heart. Il'e are passionate abou¢ the power and potential of our wonderful, di￿er5e and co]nplex local ¢oinmuniTr. Il'e want music io be ther¢ for eweryone in our communiti, to give voice, to tell 5tOTi¢5. Its b¢ jL)i"fvl. lo b¢ emotional. to be loud and proud We understand that wnrking in the comtnunitv needs deep understsnding which takes titnt. and that, as a s￿all or¥anisalivn. we ¢annoi have lived experiencc of tv¢Th ioniexi we work in. We pledg¢ io offer authentic exchangts with our parth¢r5 aTLd partiiipanis based on hoiitsty and genuin¢ GollaboTatioo. Theory of Change Our Theory of Chang¢ has set the folloi%in¥ ou¢iomes for pani¢ipants. the ivorkforct and for the oruanisation. Participants hav¢ greater 5¢1f-¢onfidence. agency. tsteetn. and moiivaiioo • Parricipants have increased lit¢ra¢N' and oracy ski115 Panieipanis have an increased sense of belonging to the community that they live in Panieipanis have increased musical and ¢reative ski115 The local free12nce workforie 15 increas¢d both in numbers and the quality of Iheir delivery Op¢rasoni¢ is better connected rht Newiort community and are a catalyst for cuIwTal exchange Op¢rasonic ha$ inl￿a$¢￿ fiiiancizl resilTtnce and 5tabilits' To support ihtsc long-term out¢omes the following short-tem outcomes ar¢ su4g¢si¢d.. Parti¢iP8nts have improved their pe￿O￿al. sorial and rnusical skills An ¢mc￿l￿g workforce is ideniified Links in Newport art further strengih¢rt¢d Operasoni¢ li￿ a clear three-NeaT financial plart Page I Opera$onie Cyf Trustees, Report Obje¢iives, straiegies ond ac¢iviti¢S KeN. Operasonic projeLt5 delivered this year were.. Il'orld Choir- sinying projtLt Developmetii of Roma band The Newport Bu￿S The G&rne Opera Film eyploring rugby in a Ioc21 rn¥b¥ club and ￿orking w'ith a French ensemble Running music ei'enls at local lestivals and parks includiiic the Big Splash Festi￿al. Beeehw'ood Park. Si Dai'ids Day. Intemational W'omens Da Catju C&newydd - a Welsh lanouige choir project 'eekl%' mu52c creation for Homeless attd Vulnerablv Housed people in Nemport eN￿ort Youth Arts Panel ei%port Liillab> Projects Harnionious Sen5es- development project exploring musi¢ w'ith families with a Deaf member OperJsoDi¥ Cohort.4ctiiity- deN"elopiiitnt opportunities for voung rn￿1￿ m8L¢rs in South W'ale5 Brake5. Beat5 and Slates liorkshops delivered in N'¢wyort and Cardiff Trip to iht RL.SEO L onferences in Porto, Portugal Il'e haie had a bu5N year olmu5ic workshop5 across Neivport and it has been especially exciting a5 this l'ear we have celebrated l O yeaT5 of oper￿Onic. M'e hEld our 10 year r¢l¢br2tion ¢v¢tti In Xo¥ember 20?4 ai ihe c.om Exchange wtth perfomiances from young ¢ohort members. Regular Community ivorkshops and projects are a realls important part of Mhat Operasonic pro&id¢s. and ￿¢ have continued lo d¢liN"er th"¢ekl J sessions for homeless and ￿lnerabIv_h0Used people. run regular sessions for our W"'elsh language choir. ongoing Lullaby projects for moihers %viih voung childret) in the comrnunitv. and sonic SinJn longs for rnothers and toddl¢rs. We also laun¢hrd ihe Sing Tog¢iher In1¢mation￿ Choir. We have also been providing open access trtusic stages and workshops at fesrivals and parks a¢ross the city Connecting with th¢ Big Splash Festii'al. Betchwood Park. T%a Dreigiau a DatTs for St Da￿ld5 Daj, Ncwport Festival of Ilord4. XeNport Frinire Festival and ￿'e￿pOrt Klusic Trail. Follo￿]ng on frorn the Sileni Lullaby Proje¢l. we wejr su¥¢¢ssful in gainine fundin8 from the .4ns Council Wales_4rts and I lealth Fiind. The new projett. Ham)onious Senses, will dev¢lop the ¢onfiden¢e of families from the Deaf lommunity to work with music. Our work ￿1th the RoTna Cvmrttunitv in N'ewpon contjllued with the deielopmeni of a Roma band . The ￿t￿POrt Bo)"s. OUT Roma Iiitern supported the project. helped io develop a brand for them, and organised opponuniiies for them to play. The Operasonic Cohort ha5 continued to with a ran¥¢ of WQTk5hop5 being d¢livcr¢d a¥FOSS ihe year e¥plvrin¥ a range prn¥ti¢e in¢liJding workiniT in facilitatloll. de21 awareness and p¢rfomian¢¢ tIP5. Cohnrt metnber5 haTr¢ sUPPOrt¢d th¥ ￿nn10* of the Dock Stage ai the Big Splash f¢stiTral and ha￿¢ also started to d¢Nelop ideas for a babi. opera projeLI. W"e dlso Lollaborated with Nemport N1115¢11rn and Art Gall¢ry to corntniS5ioTh ihrtt of our Cohort m¢inbers io create new. pieces inspired bj pieces ot art troTn the Gallery. Partnerships liave been crucial to ihc deliverv of 5ULL¢ssful proj¢¢t5 this )'ear and our work in Ihe Nei¥port ¢ommuntTh' is always depeiidtnt on the man¥ g¢n¢Tous thiTd Sector partners who 2150 see the ben¢fii of music proj¢¢is. and out 8ns panners across South ￿al¢S who undeFStanO Ihe pou'er of ¢ollaboraiion. Operasonic continues to grow as an organisation, and this year we have WOTk¢d with a rdngt of fre¢lanc¢ Artists and project Manage￿ lo deliver our projects. Our core staff team was joined b). a project rnanauer and a freelance marketino officcr helpinir us to deliver more proj¢it ￿ork a¢ross Ihe fNewpon conmiiwt!. li lembers of the staff ieatn attended the RESEO confereMLe in Porto. Page ) Operasonic Cyf Trustees, Report Public benefii Oper2sonic has provided a¢¢ess io the art5 for voung people and communiiies this year in a wde range of contexts and with mani different Lommynities in Ni emport. Il'e focus oil our be¥J¥fi¢iaries gainin£ new creative experiences and music ski115, ￿ M'ell a$ developing social and eniotional skills including focus. aiiention contToI. ¢mpathv. emotional expTe$5ion. social problem solitng. critical thinking and coiiftdence. We also work in partneTship atross Ntw'port ivsth oth¢r ¢haritie5, arts organisations. schoo15 and community groups. The twstee5 confirn that ih¢N h&￿t Complied with the requirtrnents of 5¢Ction 17 of Ih¢ Charities Act 2011 to have due regard io the public benefit cuidanLe published by the Char2tv Cotnmissioll for Englsnd >Jnd Il"ales. .4¢hÉevements and performgtt¢e Ko, non-financialperformunce indil'lltors ?0?4_?i delivery stats.. 3? Canu Casneisydd Choir sc551Vll5 and 3 perfomances eckl￿ sessions wilh 40 Trulntrably housed and homeles5 P&rtiLipant5 17 sessions run as parr of the 11.'tsrld c.hoir project in parnier5hip with a local Primary s¢hool and local theatr¢ i6 Imusic sessions iyith Roma part&cipatLts plus large eveni with 2?0 attendees 14 Lullabv sessions and I tamil¥' sharin(P E*etLI 7 Nlusic Sessions with Dldeaf families Over 37 s¢ssioiis in Trariou5 school and iommvnit>' s¢ttings rarli iar¢er musicians attending se*siOrts across the Jear accessing perfomiance opportunities including fesiivals and shoiv iases 3 soni¢ ¢omft)isstons resultins ill ? perfomian¢es l Deal awareness tratning se%5ion -3 masterclass sessions l European cottference trip FÉrJgnci#l r¢%'iew In¢ome of £204.788 (previous y¢aT." £90.18£1 funded an operating surplus of £71,828 Iprevious year.. deficit £4? $891. Poliiy on resernes Op¢TaSOOl¢'S reserye5 Stood at £40.13) iunresrricied funds) and £70.4?3 Ire5tricted funds) ai ihe year-end. It is one of our key aims going fonTrard to g¢1 reserves in plac¢ to cover anv shortfall of futsding and ellsure that delivery can ¢ontinue tn rhi5 tN'entuality for 2 months. Operasonic Cyf Tru5tee5' Report PrinL'ipulfuNding sources Operasonic 15 extr¢m¢lv grate￿1 to the following partne￿ and ￿nderS for funding this year.. Anthem. Imusic Fund Wale5 Ans Coun¢il of W ales An on thc Hill Ballet C)'mru British Council CELF - National Coniemporary. Art Gallery for Wales Comic Reliel-communiry Foundaiion Con)munitN' Housc, Eion Road Did)'mus D'oyly Carte Charitable Trusr Ed¢n CJate Fljiug Bridge Theatre Gwfnt AsstiLtaiion of Voluntary Org3Jisations Gwent Education NIinofitys excited aboul creating new projects partnerships as thry ¥ive us th¢ opportunity to extend our work and ￿nClude fftore communiry m¢mber5 in our work. N¢wport is always ai th¢ heart of our work and influences ev¢Ththing we develop. W¢ also want to Thank Ans Council of W'ales and N¢wyort Council for supponillg our work across ihe year. Pase 5 Operasonic Cyf Trustees, Report R¢ference Ind Administrative Detsils Chsrity. Re¥istralion iNumber'. Cotnpan). Registration Number= 09317941 The charity is in¢orporat¢d in Wales. Regisiered Office.. Suite 6.6 6th Floor. Clarence House Clarence Place NP19 7AA Independent ExaTllSner'. HSJ Accountants Limit¢d Sei'em House H￿ell Drive PIO 8FI- Bank¢T5- Untty Trust Bank 9. Briiidle). Place Binninoham BI ?HB Trllstee5 And offletrs Th¢ Irus¢¢es and offJcer5 5erviniT durin¥ the year 8nd since the vear end were as follows= Trnstees., R C Hvichinos S fvlahabir O T Muhlanga (appointed 5 June 20241 J Tucker (appointed 5 lune ?0?41 C Tut]J¢r J S Voyl¢ Iresigned Juls ?0?41 S¢Gr¢tary: Rhian HLtrchings Staff Team.. Daniell¢ Rowland5 - Executi3'e PToducer Emma Edwards l Elisha Djao- Project NlanageT Charlie N'ichols Ilarketing Officer laria Kandrakova- Intern Page 6 Operasonic Cyf Trustees, Report Strncture. governAnce and rngnagernent .Walurg ofgt>vernihg docupNeNI OperdSOniC Cyf was fornied as a company IiTllit¢d by guarant¢¢ or] 26th November 2014 8nd a registered clwiry on 18th Mar¥h 2016, The charity is also Kno￿￿ as OperasoMÉe. RÉL'rNitnieAt oppoinlmenl ofiru51ees The charity 15 led b* a buard uf trustees I direciors. wlio are recruited Èhrough a p(Tbli¢ recTUitment process. All Irusites giNe their time volunrarily and r¢¢eive no benefiis from ihe charsty. There weye no expenses Teclaitned bv trustees during ihe year. Ncw truslets appuinted bv the Board of Trustees at meetinu5 throuohout the vear. based on sel¢rt50n against a Tegularl}' updated ski115 audit. OrgaRisalional slruclure Op¢ra50nic a number of poli¢ies in pl&e to support the acttvities of the charity which are r¢vieM'ed regularly by the Board of Tru5tees'. Chtld Protecrion Poliey Equal OpporDJnitie5 Policy Gen¢r41 Dara Proteciion Policy and Privacy Notice Equality. and Equal Opportunil) Policy Eni'ironmental Policy Welsh Language Policb. OpeT2sonie ernplovs a freelance Executive Producer and Trainee Producer and ? Tange of fFeelan¢e artists ivho are pri)jeci based Disclosure and Barring Chec￿ are carried out for all Staff Tnembets before they COTnmen¢e employineni. Poge 7 Operasonic Cyf Trustees, Report s￿tsment of Trust¢es' R&sponsibilities The I￿￿te¢S (who are also Ihe dir¢ctor5 of Operasoni¢ Crf for th¢ purposes of Company lawl are responsible for preparing the trustees. report and the finanLial staiemen15 in accordanie the Lniied Kingdom .4¢couniing Standards (United Kingdom Generall> Accepted .4ccouniin8 Practice) and applicable law and rrgulations. Compaiiy la￿ requires the trustees to prepar¢ financial statements for each linancial year. Under compan) law the tru5tee5 rnust not approve the finan¢tal stateni¢nrs unles.4 the￿ are saristied thst Ihcy ¥iN'e a irut and fair ￿l¢W of the stale of *ffairs of the charitable Lompanj and of 115 incoming resour¢es and applicatloii of resources. inLlUd￿ftg its income aDd expenditure. for that period. In preparing thtse r]nan¢ial St￿Ments, the trusiees are required io.. stlect Suitable accountiTtg policies and apply them con515trntly* obs¢rv¢ the methods #nd principles in the Charities SORP.. rnake jud(P¢Tnents and cstimate5 that ar¢ reasunabl¢ and prudent.. sTaEe ￿hether applicable L& .&ccounring Standards have been followed. subject to aJLy material departures disLlosed and ¢Nplain¢d in th¢ financial stai¢mertts: and prepare the fiiian¢ial 51attments on the going ¢onrtrn basi$ unless It is iDappn)priate to prL'sume that the charitable company will continue in business. The Irusl¢¢s are responsibl¢ for keepittg adequar¢ accounting re¢oid5 that are sufficient to show and explain the chaThiable CQTnpan)'5 tran5athions and di5clos¢ with r¢asonabl¢ arrurali ai an> lime the financial posiii()n of Ihe hariiable compan! and tnablt thetn to ensure that tht financial Staten1¢ni￿ compli iiith the Cumpanies .4rt 2006. The} are also respon5ibl¢ for safeguardÈng the a55tis of tht charitable ¢oinpanfv and heii¢e for iaking reasonable steps for the preveniion and deieciion ot fraud and oiher irregiilaritl¢5. The annual report was approved bj the tru51ees of the chariiv on 17 October 2025 and signed on its behalf by- Hulihings Trusree Pase 8 Operasonic Cyf Independent ExamiDer's Report to the trustees of Operxsonic Cyf ("the Compan)") I repon io the charity trust¢es on m> e￿MInation of the accounts of the Companv for the )'eaT ended 5 April Responsibilities ba515 of report As the charity s tyusiees of Ihe Company land also its directors for the purpose5 of compani, lawl vou are responsibl¢ for the pr¢parntion of the accounts in a¢¢ordaii¢e with di¢ requiremenLS of the Companies Act 7006 l-the 2006 Aci'i. Having sausfted mv5eif that the accounts of Op¢rdSOni¢ Cyf are not required to be aud5t¢d under Part 16 of the 2006 .4ct and are eligible for independent examinatioEJ. l TEPOrt in re5pe¢t of m>. exarllination of vour charitv s account5 as carried out under section 145 01 the Charities Act 2011 l-th¢ 7011 .4ct'l. In carryTn" out tn exarnination I hal'e followed the Directions oiNen b). the Charity Commission under section 1451iMbl of the 2051 Act. Independ¢nt eiaminer's statement I have cornpleted tny examination. I confinn that no rnattcrs have come to MJ attention in connection with th¢ examination oivsng me cause Iv believe". 2ccounling r¢¢ords w'ere not kept in respect of Operdsonic Cyf as requirrd by seciioii 386 of the ?006.4cL or 2. the accounis do noi aCLord with those r¢cord5,' or Lhe accounr5 do not fOTnplJ w'irh Ihe aicouniing requirenienrs of sectson i96 of the ?006 .4¥1 oih¢r Ihan y requiretneni thai the accounts giv¢ a 'tru¢ and lair tri¢w' Ivhi¥h is noi a matter considered as part of an ind¢pend¢ni ¢xaminaiion'. or 4. Ihe account5 hav¢ no¢ been prepkred in accordance with the meihods and priniiples of the Siatenieni of Recomn)ended PraLtice for 8c¢ountin4 aijd repN)rtino bv charities lapplicabl¢ tv Lhariiies preparing iheir acLounis iii accordance Mith the Financial Reporting Siandard appl&cable in the UK and Republi¢ or ITeland IFRS IQ?11. I hav¢ no concerns and have ¢ome across no other matters in connection ￿1th the exarnination to which ati¢ntlOD should be n in this report in tsrdtr to enable a proper understsnding of the accounts iu be reachcd. ndreiv Hill FCCA .4C.A DCh.4 BFP ACL.4 S¢￿ern House H8z¢II DriTre N¢Myort PIO 8FY 17 October ?0?£ Pa8¢ 9 OperasoDiC Cvf Stgtement of Financial Activities for the Year Ended 5 April 2025 (Including Income and Expenditure AcLount and Statement of Total Recognised Gains and L055e51 U￿restrICted funds Re5tritted fynd$ Total 202) ote Income #nd End0￿MEntS frorn.. Donations aIid legacies Charitable acti￿l[leS Other incorne 100.886 88,743 13.714 180 189.629 14.964 19) 15 To¢al in¢om¢ 10?.6 j7 ?04.788 Expenditurt on: Cliaritable aciivitie5 169.?611 16_1.6991 11.7? 9601 Total expendit1￿e 169.?611 163.69()1 Ilj?.9601 el inLome Trnnsfers ben¥'een funds 32.890 14.Oi8 i8.9.; 71,828 et moi'emenr in funds 4?.976 71.8?8 Reconciliation of fund% Total tunds brovehi forward 77.447 Total funds carried forward 16 40.1?i 110.ij6 The nores on pages 13 to )) fonn an integnl part of th¢se financial statemenrs. Pag¢ 10 Operasonic Cyf Statement of Financial ActiTrities for the Year Ended 5 April 2025 (Including Ineome and Expenditure ALLount and Statement of Total Reeognised Gains and Losses) l.'nrtstri¢¢¢d funds Restricted funds Totgl 2024 ote ltttome dnd ElldoThments from: Doiiations and legFa¢ies Charitable actii'ilies 64,609 76.Q*8 l j.?57 Total incomE 64.609 90.18_- Èspenditure on: Charitable actii'ities 144.9891 187.78.$1 1137 7741 Totsl expendiiure 144.9891 187.78)) 113? 7741 Nei e.xpenditure Trnnsfers between fvnds 119.4131 4.090 i?j.1761 14,0901 14?.5891 Nei moN'emenr in funds 127,2661 142.5891 Recon¢ili#tion or runds TOMI funds broutrht foThYard ?6.604 81.317 Total fiinds carrÉed for%¥2rd 16 27.447 38.728 All of ihe ¢harity's a¢iiviti¢s derive from continuing operdtions during the above two periods. Th¢ flmds breakdown for 20?4 És shown ill note 16. The rtorts on p38¢5 13 tr 2J forni an integral part of these financial sratements. Paq¢ll Operasonic Cyf (Re%istration number: 09327941) Balance Sheet as at 5 April 2025 2025 2024 Note Fi.ied a5$ets Tan¥ibl¢ assets 12 846 204 Current IlS5ets Debiors Cash at bank and in hand 13 14 1?.597 99.ii9 5.6i2 39.898 Creditors: .4mounts falling due wiihin one vear et ¢urr¢ni Assets 109.710 et assets I10.￿56 38.728 Funds uf tht ¢haritv: Restricted inCOEne fuDd5 Resirici¢d fvnd5 27.447 Unrestricted iDcomt funds LTnrestricied funds 40.lii Total funds 16 For th¢ finaiicial vear ¢nding 5 April ?O?i the ihariry was entitled to exemptioB from audit under se¢tion 477 of the Companies.4ct 7006 relatitlg to small companies. Directr>rs' responsibililics.. The member5 have not required the cliariN w obtwn a¢) audii of tts accoLtnE5 for the year in qU¢Stion itt a¥iord8n¢¢ witli section 476.. and The directors acknowledge their responsibiliiie5 for cumplying with the requiremenis of lh¢ A¢1 *ith respect io accouniing records and the preparation of accounts. The5¢ financiJ ytaivm¢nis have been prepared in a¢¢ordattce with th¢ special provisions relatin¥ lo Lompanies subject to ihe small companies regime within Part 15 of the Cornpanies Act 2006. The finanrial 5tatement$ 00 Pdg¢s 10 10 ?3 were approved by ihe rrustees. and authorised for issue on 17 October ?0?5 and signed on their beh￿[ by.. R C Hutchin Trustee The notes on pages 13 to 2) forrTr an inte.￿1 part of these linanLial st3iements. Page l? Operasonie Cyf Notes to the Financial Statements for the Year Ended 5 April 2025 I C.harlty $tatliS The chartty is lirnited by guarantee. in¢oTporated in Wajes, and constquenily does noi have share ¢apital. Each of the tn￿teeS is liable io contribute an amount not exceedinu £1 tt>ward5 the assets of the ¢hariiy in the ¢vent of liquidation. The address of its registered office is.. Suite 6.6 6th FIOOT. Clarence House Cl¥ence Place Newport NP19 7AA These financial statemenis authoristd for issue by the trustees on 17 October ?025. 2 Aceountin% policie5 Summarv of sÉgnificaDt Accounting policies ond kev gccoullting estimates The priiicipal a¢¢tsiinting policies applied in the preparation of th¢se fajiancial statetD¢nts aTe set out below. These poliLies ha%'e been coiJ519tentlfv applied io all the years presented, unless oth¢Tr%-ise SlaEed. Statem*ttt of ciJmplian¢e The ftn&n¢ial ststemtnts hai"¢ been preparL,d in accordance wtth Accountintt and Reporting b). Chariries.. Siattment ot. Recomin¢nd¢d Pra¢iice iapplicable 10 charities preparing their accounts in accordance with th¢ Financial Reporting stand￿ applicable in the L% and Republic of Ireland IFRS 10?11 lissiitd in October ?0191 (Charities SORP IFRS I O?11. the Finaiiciel Reporting Standard applicabl¢ in the UK and Republic of Jreland IFRS 10?) and Ihe Companies Aci ?006. Ba$is ofpr¢p9rstion OperasDnic Ci'f tneet5 th¢ dtfInitiort ora pvblic benefit tntity. under FRS 102. .4ssets and liabilitie5 are initidlly recognised at historical cost OF tran5artion valu¢ urtl¢ss oiherwtse stated in the relevant accounting policy notes. Goin% Concern The m15te¢5 cunsider thai th¢r¢ are no material uncenainties about the charity'5 ability tL) Lonlinue as a going eoncem nor an!. significant aT¢as of uncerrainry that affect the carrying value of a55tts held b). the chaTSty. Exemplton from preparing g cash floTrv state￿¢￿1 The Charl￿ opied lo ¢arl) adopt Bulldin I published on 2 February 2016 and thercfore not included a ¢ash flow statement in these linancial statements. lrt¢ome gnd ¢ndoM'mentS All income is re¢o8nised on¢¢ ihe ¢haritv has entitlement 10 the inLortJt. it is prnbablc ihar Ihe income ivill be r¢¢eiked and the arnouni of the iniom¢ receivable ¢an b¢ m¢25ur¢d reliabl>'. Page li Operasonic Cyf Notes to the Financial Statements for the Year Ended 5 April 2025 Domuiions andlegac'ie5 Dvnaiions art recoutsised when the charits. has been norified in Mrtino of both the amount and settlement date. In the eveni Ihat tt donation is Skibjecl to condilioos that require a level of perforrnanc¢ b} the ¢hariry before the charity is entitled to the funds, the income is dcferred and #ot recoJu 15td uniil eirher those conditions are fijlly meL or the fulfilment of IhL)se ¥ondit&ons is ￿-holI} within ilie coiitrol of the charitk and it is probable that these conditions ￿111 be fullill¢d in th¢ T¢ponit]g period. Gr4KiS receivoblÉ Grttnis ar¢ recognised when the charitv has an eniiilrrneni to the fund5 and an>. condTtion5 linked to Ihe ¥ranrs have b¢¢n met. 11."here performance eonditions art attached to Ihe grant and are lei io bt tnet. the in¢ome is Tecognised as a liabilitv and includcd on the balance she¢t as deterred income to be released. Expenditure All expeiiditure is recognised once there is a leoal OT consiru¢tive oblioation io Ihat expendirure. il is probable settleTnenl 15 required and tlie amounl ran be meaSllTed rcliobly. All costs are alloLaicd to th¢ applicable expendiiure heading that a&nregate sirnilaT Cvsts to thai iatetiory. Il"hLre cosis cannot be directl} attributed lo panicular headings thej have bten allo¢ai¢d on a basi5 ¢OnSlSt¢ni with the us¢ of resources. M'ith cenrral Staff 0Sts allocattd on the b￿lS ol. lim¢ spenr. and depreciation charg¢s allocated on the portion of ihe asset-.s use. Oth¢r support costs are allocated based on the Spread of stsff costs. Chariiuble 4clivities Charitable expenditure ¢ortiprise5 those costs in¢urr¢d by the charity in the delivery of its artiviti¢$ Ond service5 for its benefiliaries. li iDcludes knth cosis that ran be allocated directls io such acrii'irie5 and those tosts of indirect nature necessary to support thern. Support costs Sypport LOSES inilud¢ central fvnttions and have be¢n allocated 10 aciiN'il? rvsi cate£ories on a ba515 con515tenl tth the ust of resourr¢s. for exarnplt. allocating prop¢rty' costs by floor ar¢as. L)r peT capita. staff ¢osts by Ihe titne spent and other costs their usagt. Go>'ernance c05tb These inilud¢ ihe cost5 atrributable to the charitV'5 complianE¢ with Consiiwtional and siaNtory requirements, includiniF audil. Strategic management and trusiees's meeiings and reinlbursed expenses. Tgiation The ¥hariN is ¢onsidered to pas5 th¢ tests sei out in Paragraph I Schedule 6 of th¢ FioattE¥ Act 2010 alld thtr¢for¢ il meets the def¥nirion of a charitable cornpan& for Lorporation iu pwoses. Accordingly. the chaTh￿, is put¢nli•1l￿ exernpi from taxatiort itt respect of in¢ome or capiial gains re¢¢I￿ed within cartS0ri¢5 co%'ered bi. Chapter 3 P8rt 1 l ot the Corporation TLX Act ?010 or S¢¢iion ?56 of Ihe T&x(Ilion of Char£eable Gains Aci 199? io rhe extent that such incoffle or gains are applied ¢.KLlusiv¢ly to charitable PUTposes. Tats¥ibl¢ r￿ed assels tlldthvidual fix¢d assets ¢ostin£ £600.00 or more ar¢ initially record¢d at cost. Depreciation and amorti$2tion Dipreciaiion is proi'ided on tangible fLx¢d assets so &% r(> the c05t or valuation: less an>. estirnated residual value. over th¢ir expected useful econvmi¢ lif¢ as follows.. Page 14 OperasoDiC Cvf Notes to the Financial Statements for the Year Ended i April 202) -4sset clA55 Fixtures, fitrings 8nd equipment Depreciation tRethod and rate ?%Q,D reduiing balance Trlde debtor5 Trade debtors are amounis due from Customers for merchandise sold or services perfonned in tb¢ ordinary course of busin¢5S. Trade debtors are r￿QgnISed ini11￿]Y or the transa¢tion Price. They are 5ubsequeEJilv measured at amortised cost using ihe effectiNE interesi method. less provision for iMp￿rMent. A provisiotj foi Ihe itnpairmeni ot. Irdde debiors is established when there is objeitiTr¢ evidence that the charity will not be able to collect all atnounts due according to the original t¢mis of the reccivables. CA5h and e#sh ¢fjMlI'qlents C.85h and cash lqui￿aleThts iomprise cash on hand and call deposits, End other sliort-terni highly liquid in¥esimenis thai are readily ¢onvertibl¢ to a known amount of cash and are subject to an IDSignific￿t risk of hznge in value. Tr#de treditors Trade creditors are obligations lo paj for goods or s¢r¥ices Ihat hai'e been acquired in the ordiner%' course of business from supplie￿. A¢¢oiints payable are ¢las%ified as current liabiliiies if lh¢ ¢haFitI" do¢s not have an uncondition21 right. al the clld of tlie rep)ning period, io def¢r senlemeni of lh¢ cr¢dilor for at least N'elfv¢ Enonths after the retK)rting datt. If thcre 15 an unconditional right io defer seulemellt for at least twelve months after the reporting dare. thev are presented a5 non-curreni liabiliTies. Trade creditors are re¢ognised initially ai the transa¢iion price and subs¢quentlv me3sured at Bmortised cost using the etTeCti￿'e interest tneihod. Fulld 5trndur¢ LTnrestTlkted incotne funds ar¢ general fund5 Ihai are alailable for use at the trustees discreiion in funheran¢e of the obje¢t1￿.es of the charity. Restricted iiiconie fuiids are those donat¢d for us¢ in a panicylar area or for sp¢¢ifi¢ purposes, the llse of which is resiricred ro thai area or purpose. Pa8e 15 Operasonic Cyf Notes to the Finallcial Statements for the Year Ended 5 April 2025 3 Income from donatlort$ #nd l¢ggcies l.'Drtstrt¢ted fund5 General Restricted runds Total 2025 Total 2024 Donations and legacies,. DoiJation5 from indii'iduals Grants, including capital granis; Grants from oih¢r charities 150 150 LUU.7i6 88.743 189.479 LOO.886 88.743 L8l).6?9 76.9)8 4 Ineome from thgritable attiyities l.'nre5trieted runds General Restricted funds Total 2023 Tntal 2024 PromotioTh of Arts.4ctivities ?50 13.714 14.964 S Oth¢r intome Unrestricted funds General RestTlCted funds Fees and supplir5 i¥ 180 194 Page 16 Operasonic Cyf Note5 to the Financial Statements for the Year Ended 5 April 2025 6 Expendsthre on ch#ritable g¢tivities Unrestricted funds General Restricted fund5 Total 2025 Total 2024 1+40te Direct pmje¢t Costs Depreciatioll, amonisaiion and otlier similar c0515 StalT costs Allncated sUPPOrt osts 6,6iO 54.649 84,599 190 50.617 68 3j.S?7 42,?69 8.i48 13.102 7.070 70? 13.804 7.070 9.994 Governance costs 63.699 112.960 13?774 Page 17 Operasollie Cyf Note5 to the Financial Statements for the Year Ellded 5 April 2025 7 Analysis of governance and 5UPPOrt to$ts Support costs 411o¢#ted to Lhxritable Activilit5 -4dministration C05t5 Total Total 2024 B2S15 of allocation Promotion of Art5 .4ctlVLtie5 19.4?9 9.994 BASIS of alloeatlon Reference l¢thod of allotatÉOEI OOQIQ of expeiidiiiire incurred in re13rion to support activities Governance cosls Lnre5tri¢t¢d funds General Total 2025 TDtal 2024 Independent eyarniner fee5 Exarninali¢)n L)f the finaticial sI￿eme11t5 Professional f¢es i,070 2.258 4.000 7,070 7.070 2,)86 8 Niet ineominoJoutgoing resou￿tS et incomin&'lout¥uin¥l rEsvurces for the }ear in¢lude'. 2025 2024 Depreci8tion of fixed assets 190 68 9 Trusiee$ remuneration and expenses .0 trust¢¢5. nor ativ persons ionnecied with them. have re¢¢ived anj remunerdiion from the charity during the w¢ar. o trustees have received 3JLy Teitnbursed ¢xpens¢s or any other benefits from the charity" durirtg Ihe >e8r. Paee 18 Opera50llic Cyf Notes to the Financial StgtemeDts for the Year Ended i April 2025 10 Staff costs Th¢ aggregate pajroll costs were as ft>llow5'. 2024 Staft¢05t5 during the yeir *¢re'. Waoes ajid salaries- includin¥ fr¢eloo¢e staff Pension ¢osts 49,894 79i 35.?71 50.617 The Enonthly awerage number of per50n5 (Èncludinn senior manaEemtnt .. leadership ￿arnI employed bv the chants during th¢ y¢ar ¢xpresstd as ￿11 iitn¢ equi*alents ￿a5 as follows.. 2025 2024 Promotion of Arts o employee r¢c¢ived emoluments of more than £60.000 dunno the year. Page 19 Operasottie Cyf Note5 to the Financial Statements for the Year Ended 5 April 2025 I I TAx2tion The charitN is a registered ehariry and i5 th¢r¢fore exempt from ts%ation. 12 Tangible r￿ed asStt$ Furttiture and equipment Total Cost At 6 April ?0?4 Additions 1.065 8i2 1.06) 832 .41 i April ?02) 1.897 1.897 Depreciatio At 6 April ?0ti4 Charge for rhe J'ear 861 190 861 190 At S April 20?5 1.051 i et book vglue Ai 4 .4pril ?074 846 846 Ai 5 April 2024 204 ?04 13 Debtors 202£ 2024 TTad¢ d¢btors A¢crJ¢d incorne Other debton 11.7iO 2,iOO 2.784 848 847 14 Cash #nd e4sh ¢quivalent5 2025 2024 Cash ai bank 99.ii9 Page ?0 Operasollie C)'f Notes to the Financial StatemeJ)ts for the Year Ended i April 2025 IS Creditors: grnounts falling due within one year 2024 Other raxation and social se¢uritv Other creditt>rs Pension schem¢ creditor A¢cruals 12i 846 123 722 1.374 2024 Deft￿ed income at 6 .4pril ?0•4 Amaunts released from preTriou5 periods 15.0701 5.070 Deferred in¢ome at vear end Pag¢?1 Opera$onic Cyf Notes to the Financial Statements for the Year Ended S April 2025 16 Funds Bg1gtEce at 6 April 2024 Incoming resources Re50urees eTpended Balsnce at 5 April Z02.$ Transfers Unrestricted fund5 Gerterdl Cor¢ 10? 151 169.?611 14.OJ81 40.133 Resiriotod funds Cohort 'orkshop, Canu Cas Eden Gale Silent L The Garne Gvpsi Stars Roma Teens Lullabies Creall￿e Hubs Beats Break Harmonious Senses Didymu5 'orld Choir l'outh Management Other projec15 16.900 iO.144 10.500 i,000 2.2iO 17.6871 l?0.?6il 11?.29il 15.77?) i?Troi 11.3941 11561 15 ?831 105 2.J17 1?.0501 47 11,0881 9,057 Festivals 1.690 i.760 378 l.i47 1.088 790 3.809 178 3.175 11.6561 17221 6.)89 i.40i 12441 ?,4ill 14.971} 15.8081 19.068 4.000 6.000 14151 1.808 19751 8.19? {6.6? jl 13.68• 5.0? j i.569 7.600 19751 Tot#1 restricted funds ?7.447 10?.6j7 163.6991 4.038 Totsl fund5 38.728 ?04.788 1137.9601 110.5)6 Page ?) Oper2sonic Cvf Note5 to the Financial Statements for the Year Ended S April 2025 BgIAttce gt 6 April 2023 IDcoming resources Resource5 expended Balanfe #t 5 April 2024 Transfer5 Ilnre5tritted fund5 Getterttl Core 26,604 144.989) 4.090 Restritted Cohort W'orkshop, Fcstivals Canu Ca5 Ed¢n Gale Silent L 8.244 9,698 990 4.962 19.357 189 941 14501 582 18.044) 230 10.130 1.690 3.760 378 1.347 1.088 790 11.8001 19.8 j?) 1?0,604 11?.014} 8.650 1.625 Th¢ Game G! Stars Rotna Teens Lullabies Creali¥e Hubs Beats Bre2k I'ou¢h Mana¥emeni Oth¢r projects i.070 16.160 15001 1.800 6.000 10.000 Ili 3701 15.49?) 4.7QO 1.:.5491 14.4) I I 2,451 5.469 Total resirict¢d funds i4.713 64,609 187.78i I 14.0901 ?7.447 Total funds 81.i17 90.18) 11.lty 7741 38.7?8 17 Amalvsis of net #ssei$ betiveen fuuds iiDre5tricted fund5 Gener21 To1￿1 fund5 at 5 April 202.- Restricted funds Tangible fixed Lsset5 Curreni assets Curret)i liabiliiits 846 846 1?.4461 1?.4461 Total nei assets I10.i56 nrestritted fund5 Gener￿1 Total funds gt >.4pril 2024 Restricted funds Tangible fi.xed assets Current as5tlS Current liabilities ?04 28.617 204 i9.898 Il.i741 Total nei asStt5 38.7?8