Company registration number: 10085558 Charity registration number- 1168484 HGO Trust Ltd (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended )0 June 2025 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL HGO Trust Ltd Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examiner's Report Statement of Financial Activities 6t07 Balance Sheet Notes to the Financial Statements 9t0 15 HGO Trust Ltd Reference and Administrative Details Truslees Stuart Barker Caroline McLaren William English David Conway Philip Sheffield Dame Emma Kirkby Katherine Dallas Patricia Hofherr Howard Williams Charity Registration Number 1168484 Company Registration Number 10085558 Registered Otrice 107 Old Park Avenue Enfield EN2 6PP Independent Examiner Eva Stevens, employee of Community Accounting Plus Unils l & 2 North West 41 Talboi Street Nottingham NGI 5GL Page I HGO Trust Ltd Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended )0 June 2025. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: Michael Harper (deceased 9 March 2025) Stuart Barker Caroline McLaren William English David Conway Philip Sheffield Dame Emma Kirkby Katherine Dallas Patricia Hofherr Howard Williams Structureg governanee and management ature ofgoverning document The charity is a company limiied by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated ?510312016. It has no share capital aTJd the liability of each member in the event of ￿'indIng-Up is limited to £10. Recruilmenl and appoinlmenl oflru51ees The rules governing the appointment of Trustees and the duration of their tenure are outlined in the Articles of Association. In practice. we have sought to recruit trustees by word of mouth. by annouTJcements at our productions, and by the use of services of organizations such as the charity Reach Volunteering. Major risks and managemenl oflhose ri5As The trustees are continually mind￿1 of the risks being run. The principal ongoing risks are seen as being loss of key personnel, poor audience response to a produciion. and not attrdcting sufficient funding. To this end the company's Executive Committee continues to seek sources of funding over and above ticket sales and the subscriptions of Friends of HGO Trust Ltd and of Hampstead Garden Opera Trllst. Objectives and activities Objects and aims To advance the education of the public in the art and science of music and operatic vnusic in particular by encouraging and promoting the study knowledge and understanding and appreciation of Operatic Art and by promoting andlor organising perfortnance5. concert5. lectures and readings of opera operetta and musical works generally to the highest possible standard in Great Britain and elseivhere. Page 2 HGO Trust Ltd Trustees, Report The Company ha5 now been operating since 2016. having taken over from the Previou5 trust which had been in place for thirteen years. The Story ol HaTnpstead Garden Opera is much older, extending back over thirty years to when it began life a5 an evening class for amateur singers who lancied a chance to sing in opera. In these years it has evolved into a high quality organisation. described by a reviewer a5 "an engine of opera development in the UK" with stated purposes consisient with the above objects, but specifically declared as follows.. .To provide opportunities for young sintsers to perforni. in a fully staged production with orchestra. roles which, early in their careers, they would not be given in a major opera company. .To bring high quality live opera at affordable prices twice a year to North London. In following these purposes. the Trustees have been mindful of the guidance of the Charity Commission in respect of public benefit. The Company also seeks new w'ays to cooperate with educational and commLmity organizations. Public benefit As per our objects, as stated in our articles of association. we seek "to advance the education of the public in the art and science of music and operalic music in particular by encouraging and promoting the study know'ledge and understanding and appreciation of operatic art and by promoting anivor organising perfonnances: concerts, lectures and readings of opera operetta and musical works generally to the highest possible sLandard in Great Britain and elsewhere" To these ends we staged during the year two opera productions ("Eugene Onegin" and "La Cenerentola") and an opera concert. We further bore in mind during these activities the support and promotion of young opera singers at the start of their careers and provided them with training and skills support as appropriate. The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance The Company held its annual opera concert at St. Michaels Church Highgate in July 2024. In November 2024 the Company presented ai Jacksons Lane Theatre eight perforn]ances. double-casL of Peter Ilyich Tchaikovsk) s opera 'Eugene Onegin,. perfonned in the original Russian. It was directed by Eleanor Burke and conducted by Oliver Cope in a reduced orchestration. The production was exceptionally well received by both audiences and critics. It received the 2025 Off West End Aiiard for best opera perfonnance, citing both cast and orchestra. In April 2025 the Company presented eight perforn]ances. double-cast. at Jacksons Lane Theatre of Gicaomo Rossini'5 opera 'La Cenerentola,, directed by Finn Lacey. performed in the original Italian, with a reduced orchestra conducted by Jonathan Darbourne. Thi5 production was also well received (and was effectively sold out) with excellent revieH's and a nomination a5 'A55essor s Choice, from the Off West End award5. Both productions received record audiences. Financial review Policy on reserves The company has no specific policy on reserves. e.g. a rdtio between reserves and turnover. The trustees review the reserves each year. At the end of this reporting year reserves were £35,80J compared with £54,419 at the close of the previous year. Of these funds £1 8,960 were restricte