HGO TRUST LIMITED Registered Charity No. u68484 Company No. ￿85558 107 Old Park Avenue, Enfield EN2 6PP Trustees. Report- Istjuly 2020 to 30th June 2021 Trustees David Conway. Chaimian RoBer Sainsbury Alastair MacBeorge Martin Musgrave Patrlcia cab￿d0 Philip Sheffield Kathy Dallas Wllliam English Emma Kirkby DBE lappolnted 14 Decembèr 20201 Howard Williamslappointed 14 December 20201 Secretary- William English Treasu￿r- Susannah Finth CIMA TRUSTEES REPORT 2020-2021 Governln8 1)o¢ument The 8overnln8 document is the Articles of A550ciatlon as recognised wtthln the registration of the company on 25 March 2016. Trustees We regret to report the continuing illness of Aiastslr Mac8eorge at the time of wrlting. HGO is a small organisation. There are no formal policies for the appointment and training of trustee5. People have typicalfy been irwited to become trustees after they have already been known to, and have been working on behalf of, the company for some Considerable time. or betause they have special attributes beneficial to the company. The company has a necessary relationship with Hamp5tead Gar￿n Opera Trust. That trust receNes monies from time to time, typically donations set up under standing order5 made prior to 12 September 2016. Such monies a￿ transferred at frequent intervals into the account of the company. The trustees are continually mindful of the risks being run. The principal ongoing risks are seen as belng loss of key personnel, poor audien￿ reswn5e to a production, and inabilityto attract nece55ary funding. To this end the company's Executive Committee continues to seek sour￿5 of funding over and above ticket sales and the subscriptions of Friends. The Board has set up a speual panel to review the Compan￿$ Rules with the intent of clarifyin8 the scope ar7d responsibilities of the cOrnpan￿$ Execu￿Ve C4ynmittee. The Member5 of the Company will be consulted for thèir views Addltional risks arose with the COWD uisis throughout the period. All our activities were carried out in accordance wrth government advice and regulations ￿lats"n8 to the pandemic. Oblertlves and Acthilt5es The declared objects ofthe company a￿. o advance the education of the publlc in the art and sclence of music and operatlc music in particular by encoura8ing and promoting the study knowled8e and understandln8 and appreciatlon of OperatSc Art and by promoting andlor organising performances, concerts. lertures and readings of opera operetta and musical works generalty to the hi8hest w)ssible stsndard in Great Britain and elsewhere.. These objects have been pursued mainfy by the perforniance each year oftwo operas, In sprin8 and autumn. The company has now been trading forju5t over five years. having taken over from the previous trust whlth had been in place for thirteen years. The story of Hampstead Garden Opera Is much older, extending back thlrty years to when it began Ilfe as an evening class for amateur sln8ers who fancied chance to sln8 in opera. In these years It has evts￿ed Into a hi8h qualty organi5atton. descrlbed by a revtewer as"a little gem of an opera companf. wth ststed purposes conslstent with the above objerts, but specTfically declared. These are.. To brin8 hi8h qualty live opera at affordable prices twite a year to r￿rth London. To provide opportunities for young singers to perfom, in a fully staged production with orchestra. role5 which. early in their car4er5, th•y would not be 8iv¢n in a major opera cortipany. In following these purposes. the trustees have been mindful of the guidance of the Charity Commission in respect of public benefft. The company Is also seekin8 new Wa￿ to cooperate with educatlonal and community organizations. Company operatlon The company has no paid staff or premises. The TreaSU￿r. Susannah Finch. a Chartered Management Accountant, receives a modest fee for preparation of the accounts. We a￿ very grateful to herfor work and advice in keeping the compan￿5 fiTran￿5 in order. All other administrdtr¥e work is carried out by volunteers. The ExecLrtive Committee. which is the regular managing body of the C(Jmpany. met re8ularly during the year. The Committee consists of David Conway, Roger Sainsbury, Kathy Dallas, William English and Philp Sheffield. In addition. Martin Musgrave has assisted at some meetings at the invitation of the Chaimian. Maln achlevem•nts thr1￿ the peflod of thb reporL The COVID crisis inevitably dominated the year. The company has sought to continue activities throuBhout the period, always bearin8 in mind and meeting the stsndards and regulations required. We had intended a produttion of Moiarfs Figaro at Jacksons Lane Theatre In November 2020. When it became clear that this would not be feasible because of the pandemic re8ulations. in August 2020 the company staged a critlcally acclalmed open-air production of Holstrs opera Sovitri at Lauderdale House, Highgate. This produttion marked the return of live opera to the capital after the initial COVID surge. We were a150 able to hold our annual COn￿rt In October at St. Michael's Church Highgate. An intended UK premiere performance of Lldarti's 1774 oratorio Ester in earty 2021 lalready postponed by reason of COVID from 20201 had again to be p05tponed.' it is currentty scheduled for March 2022. Jacksons Lane Theatre remalned closed throughout the first half of 2021 for refurbishment. In June 2021 the company staged a production of Cavalll's L'Eqi5to at a new venue, The Cockpit Theatre In Marylebone. Thls was also crltlcally well-received. and received a nomination for an Off West End Award I'offle'l. We are returnlng to Jacksons Lane Theatre In November 2021 for the postponed production of Flguro. In 2022 we are presently plannlnB a doubleqblll in May of John Blov/s Venus ondAdonis and Purcell's Dldo ondAene05 at The Cockplt Theatre in May. and of Janaceys The Cunninq Llttle Vlxen at Jacksons Lane In November. The nearest the compary has to guaranteed income is the subscriptions recefved from Friends who have committed to annual giwng by standing order. The rate of recruitment of new Friends has been slow,. efforts will be made to re(Jress this situation. The charity embarked on a campaign to attract major sponsors early in 2020: this has resulted in support for ly)th L'Egi5to and the forthcomin8 Figoro. Flnanclal Actl¥llles Attached is the Statement of Financlal AttNityes of the Company. It will be seen that the company reports a small net loss. As the Company develops its range of activities and its strategies for support and sponsorship. the traditional headings in the statement of financial activtties may no longer be the most appropriate way of making the financial sources and expendttures ot the Company ideally clear. In the present year we have stated separately Friends Subscriptions and Friends t)onations with the intention of indicating support from Friends which is on a regular subscription basis. We have a150 SOU8ht to indicate donations which are Specifical￿ undertaken to support production5 or other causes of the Company. We shall be reviewing this format durin8 the present year and rffvrther changes are made we will rekKJrt the 202012021 figures on both the present and any revised basis. so that comparisons can be clear. In 202(h21 the cl￿paI￿ recei￿* generous svpp¢xtfrom a donorfor Its production of Lfglsto but no support from arts insr1lu￿ orcharitable fouThlatrans. We r￿lIVed lastyear donor yjpport for 14 202L The Company has rrfendy embarked on a futhrcampaign wrth tharitable institutions whith has started erKouTrdirety. It will be de￿opl￿ fUrt￿r strategEs to attratt funding from private and The Comparry regrettabty Imwred a bad debt from the f4llure of Its tkket pro¥&ler. Brown Paper Tickets. ￿presenting much ofthe woceeds from our 2020 CorKerL Thls amount has been wrltten off. oEthough we a￿ still at the tkne ofwrlb Monwabhl ￿￿[ of our Rodolfos in La Bohème {20191. Members mty rÈ(all that Monwa was Éfdnted a place as a Young Artist at the National Operd Studio for 202￿2021. Unfortuftatety this wasfollotNed both by a resurBence ot the COVID epid•Bic (which st￿lied of the NOS'S acbvlt*5) and bythe Illne￿ of Monwa's father, whlch necessitsted his return to South Afr￿a. Howeverthe NOS has renewed his place for 202112022. and has sourced grdnts for hls ma1ntrna￿e thrO￿￿t tr* course. At the tlme ofwritin8 HGO is ¥A)rki￿ to ass15t Monwa's rebjm to UK. Polkyon ReseT4*5 review the reserves eath ￿ar. At the end of this reportlr* year reserves were £17.893, compared with £18,161 at the close ofthe prewJs ytar. These l*ure5 are historxalty high. The t￿￿eS wlll be Sourr•s of FUNII Eèth productlon kn5es monÈyon a trddlry bth. What in nomal drcuniskrw otherwlse be a contlnual and growl￿ deftit, is made8ood by grants. donations and fundraisin8 activitie& ned on behalfof Roger Salnsbury__ ## **HGO TRUST LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **For The Year Ended 30 June 2021** **----- Start of picture text -----**
30th June 2021 30th June 2020
£ £
INCOMING RESOURCES
Friends' subscriptions 10,380
Friends' donations 7,058 10,328
Other donations 7,918 11,588
Income from summer concert 3,466 3,848
Income from Opera 1 (Savitri in Aug 2020, La Boheme in Nov 2019 ) 6,593 27,938
Income from Opera 2 (L'Egisto in June 2021, none in 2020) 11,974 -
Net result of other activities: none 2,297
Theatre Tax Relief 7,727 5,274
Gift Aid recovery 4,819 4,871
TOTAL INCOME 59,935 66,144
OUTGOING RESOURCES
Costs of summer concert 1,752 3,315
Costs of Opera 1 14,944 45,208
Costs of Opera 2 33,463 -
Late costs of Partenope (May 2019) 975
Singer sponsorship (Monwa) 3,813
Consultancy / professional fees 1,663 979
Subscriptions 117 200
Insurance 582 668
Miscellaneous 304 -
TOTAL EXPENDITURE 57,613 50,370
NET INCOMING / (OUTGOING) RESOURCES 2,321 15,774
RECONCILIATION OF FUNDS
Total funds brought forward 18,161 2,386
Net incoming / (outgoing) resources 2,321 15,775
TOTAL FUNDS CARRIED FORWARD 20,483 18,161
REPRESENTED BY
ASSETS
Company bank balance 13,135 12,126
Trust bank balance - -
Prepayments 884 936
Accrued income 11,974
Debtors 8,844 7,599
TOTAL ASSETS 34,838 20,661
LIABILITIES
Accruals 11,575 -
Deferred income 280
Long term loan 2,500 2,500
TOTAL LIABILITIES 14,355 2,500
TOTAL ASSETS LESS TOTAL LIABILITIES 20,483 18,161
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Note: The above statement shows the combined Financial Activities of the Company and its predecessor Trust for each of the two years. 28/03/2023 Company ## **DETAILED INCOME & EXPENDITURE ACCOUNTS** **----- Start of picture text -----**
SUMMER CONCERT Oct 2020 SUMMER CONCERT Aug 2019
£ £ £ £
INCOME
Ticket sales 2,806 3,638
Programme sales & ads - -
Buckets 660 210
3,466 3,848
EXPENDITURE
Church hire 250 398
Fees (including dinner) 800 1,304
Publicity 109 1,245
Other costs 593 368
1,752 2,946
EXCESS INCOME OVER EXPENDITURE 1,714 902
SAVITRI Aug 2020 LA BOHEME Nov 2019
£ £ £ £
INCOME
Ticket sales 6,543 27,331
Programme sales & ads 50 157
Production specific donation - 450
6,593 27,938
EXPENDITURE
Theatre hire 1,335 7,988
Orchestra, condutor and repetiteur 4,250 13,329
Solists and choir 3,261
Rehearsal rooms 980
Production costs 4,938 17,851
Auditions 600
Scores, instrument hire etc 554
Printing and publicity 931 2,897
Sundry Expenses 1,009
14,714 45,208
EXCESS EXPENDITURE OVER INCOME (8,121) (17,270)
L'Egisto - June 2021 CANCELLED DUE TO COVID
£ £ £ £
INCOME
Ticket sales 11,974
Programme sales & ads
Production specific donation
11,974 -
EXPENDITURE
Theatre hire 6,400
Orchestra 5,790
Singers 5,000
Musical staff 172
Rehearsal rooms 1,682
Production costs 12,330
Instrument hire 100
Scores 649
Sundry Expenses 749
Publicity 590
33,463 -
EXCESS EXPENDITURE OVER INCOME (21,489) 0
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28/03/2023 Detailed I & E ## **Independent Examiner’s Report to the Trustees of HGO Trust Limited (the Company).** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30[th] June 2021. ## **Responsibilities and basis of report** As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **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: - (1) accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or - (2) the accounts do not accord with those records, or - (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or - (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Reporting Practice for accounting and reporting by charities. 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. D.R.Tillett, F.C.A. 2, The Drive, Fordington Road, London N6 4TD. 19th September 2021.