Charity Registered Numbgr.. 1171216 NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION CONTENTS Page Refor¢n¢e and Administrative Detsils of thg Charity. its Trustees and Advisers Trustees. Report Trusteos. Rasponsibilities Staternent 10 Independent Auditors. Report on the Financial SLements Consolidated Statèment of FÉnan¢ial Activlti4$ 15 Consolldated Balanc Sheet 16 Charity Balance Sheet 17 Consolldated Statement of Cash Flows 18 Notes to the Financial Statements 19-44
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Patrons The Lord Lloyd-webber Connle Flsher Tru$tees and Regional Counclllors Gordon Richardson, President from 11 September 2021 Christine Hunter Hugh8s, President lo 11 September 2021 Ni¢k Lawrence, Vice Prgsidenl from 11 September 2021 Gordon Richardson, Vice President lo 11 September 2021 lan G Cox, Chairman from 11 September 2021 Michael Haslilow. Chairman to 11 September 2021 Stuart McCue-Dick, Vice Chairman from 11 September 2021 lan G Cox, Vice Chairman to 11 September 2021 Christine Hunter Hughes, Immtrdiale Past President from 11 Septemb812021 Jacquie Sledman, Immediate Past President to 11 September 2021 John Barnes, Llfe Member Represenlalive Michael Haslilow, Life Member Representative from 11 Septèmber 2021 Jacquie Sledman, Summer School Chair. from 11 September 2021 Tessa Davies. Regional Councillor. East Nigel Hancock. Regional Councillor, East Midlands from 11 September 2021 Nanetle Lovell, Regional Councillor, East Midlands ID 11 September 2021 Pamela Amislrong. Regional Councillor, London Peter Oliver. Regional Councillor, North Leslie Smith, Regional Coun¢illor, North East Andy Mc Nicholas, Regional Councillor. North Vvest Stuart McCue-Di¢k, Regional Councillor. Scotland Kay Rowan. Regional CDuncillor, South East Graham Liverton, Regional Councillor. South West Sharon Davies, Regional Councillor, Wales & Ireland Andy Brown, Règional Counclllor, Wesl Midlands from 11 September 2021 lan G Cox. Regional Councillor, West Midlands to 11 September Principal Staff Dale Freeman, Chief Operating Officer Lisa Scullhorp, PA lo COO and Chairman from 5 July 2021 Chris Cotton. Finance Manager Rob Williams. Marketing and Publishing Executive Jess Simpson. Membership & Marketing Assistant from 23 August 2021 Beverfy Clarke, Administrative Support to 4 January 2021 Richard Hutchinson, Membership SeNlces to 28 February 2021 Natlonal Youth Coordlnator Mike Mullen Page 1
NATIONAL OPEIiATIC AND DRAMATIC ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY, ITS TRUSTEES AND ADVISERS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER2021 Charfty rgglstered number 1171216 Prlnclpal office 15 The Metro Centre Peterborough PE2 7UH Independent auditors MHA Maclntyre Hudson Charterad Accountants & Statutory Auditor 1 The Forum Minetva Business Park Lynch Wood Peterborough PE2 6FT Bankers Unity Trust Bank Four Brindley Place Birmingham B1 2HB Page 2
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THEYEAR ENDED 310ECEMBER 2021 The Council of TrLJslees present their report together with the audited financial slalements of National Operatic and Dramatic Association CIO. the Charity and the Group, for the year ended 31 December 2021. Reference and administrative information set out on pages 1 and 2 form part of this report. Stru¢ture. Governan¢e and Managoment The Charity was conslituled as a Charitable Incorporated Ofganisation ICIOI Regislared on 20 January 2017 as amended on 20 June 2017 and 13 October 2019. Decisions relating to the strategic direction of the Charity, the correct operation of ils constitution by regional committfres, staff salaries and other major financial commitments are the responsibility of the Council of Trustees. Committees are elected by and accountsble to the Trustees.. the Management Committee and the Summer School Commlttee, with further subcommittees andlor working groups Includlng the National Weekend steering group and other sub-groups convened for specific projects andlor lime lirnited reviewslactivilies. Decisions relating lo the day-to-day operation of th8 Association's Head Office and delivery of services are delegated lo the Chalrman of Truslees. NODA is committed to training and development opportunities. During the year, the organisatlon supported attendance by Trustees and staff at various conference, training and development events. as well as organising furtherlraining in strategic pLgnning for all Trustees. Formal induction for new Trustees is normally Carried out by the Chairman of Trustees in advance of each one assuming Offi and encompasses the duties and responsibilities ofserving as a Trustee and a memberofcouncil. Those newly appointed are provided wlh an induction pack Containing a copy of the Association's Conslilulion & Bye-Laws. the Annua5 Report and Accounts, recent minutes of Coun¢il meetings, supporting literature provided by the Charity Commission and other relevant material. Timing has been reslriclive due to the impact of COVID, however. as part of the volunteers tralning programme, this was almost completed by November 2021. Appointment ol the Council of Trustees Eleven Regional Councillors are subjed to annual election by members in the relevant règion and are formally elected and confirmed in their role at the Annual General Meeting of the CIO. The President and Vice•Presidenl are ele¢tsd by the Council ofTTUStee5 from current or past Council members. The Chairman of Trustees is elected by the Council of Trustees from current or past Council mernbers, initially fc a iwo-year term of office. An outgoing Chairman may seek re-election for a terrn of one year bul not for a period longer than six years consecullvely. A Vice Chairman is elected by the Council of Trustees on a similar basi5 10 the Chairman except that the appointment is subject lo annual election. The Council nominates persons as Life Member Representatives, and these are elected al the Annual General Meeting. The Immediate Past President is an ex-officio member of the Council. The Council has the power lo co-opt up lo two additional Trustees. The Trustees have no beneficial interest in the Charity- Page 3
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Risk Statement: A Risk Register is maintsined which describes the risks to which the Charity might be exposed and is reviewed by Trustees with procedures put in place to manage these risks. The Management Committee review the organisation's Risk Register monthly on behalfoflhe Council of Trustees with a further review by all Trustees on a regular basis. Regional Treasurers report their Region's Income and Expenditure on a monthly basis to ensure compliance wh the Association's risk strategy. The principal risks and un¢ertalnlies of the charity relate lo the recruitment of new members and the ¢onllnulng impact of COVID-19. The Trustees have plans in place lo manag& these risks. Compllance: All Trustees continue lo receive training in governance and financial planning, lo ensur8 an understanding of, and compliance with, the roles and responsibilities of charity Iruslees, as well as Improving NODA'S communications with members. Oble¢tlves and Activities: The objects of the Association are to advance education by promoting and improving the art of opera. music and the Ihealre, to stimulate public appreciation of such arts, generally lo cultivate the improvement of public lasle in such arts and for those purposes lo do all or any of the following., To condLFCt schools and courses. To provide a general Bdvisory and advocacy service-, To publish information ak)ut amateur Iheatre.. To hold conferences and meetings.. and To do all such things as are inCKlental or conducive to the attainment ofthe above objects or any ofthem. NODA alms: To give a shared voice to the amateur theatre sector: To help amateur theatre groups and individuals achieve the highest standards of best practice and performance., To provide leadership and advice to enable the amateur theatre sector to tackle the challenges and opportunities of the 21st century. NODA Vl$lon- The vision for the National Opeiali¢ and Dramalic Association is that amateur theatre is successful and sustainable. providing a range of opp¢irtunities foT people lo develop their skills, and enjoy taking part, al all levels. NODA'S mission is to support the education and information needs of individuals and organisalions with high quality services and produ¢ls that Contribute to the success of amateur theatre as well as encouraging appreciation of the sector by participants and audiences allke. Page 4
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Volunteers- The Association relies on ils volunteers to deliver its objectives at regional level. There are 201 volunteers In lotsl, including members of Council, Regional Representatives (elected by members in their Dislricll. Regicinal Officers (Secretaries. Treasurers. Membership Secreiaries and Youth Coordinalorsl and co-opted members of Region81 Commillegs such as Editors and Award5 Secretaries. The Regional Committees are responsiblg for the provision of visits by Regional Representative5 and other volunteers lo affiliated societies, regional cOnferenS, as well as being responsible for conlribuling lo magazines and newsletters, workshops, and advice lo members. in line with the objects of the Charity. Head Office Staff The team al Head Office are led by Chief Operating Officer, Dale Freeman. We are 9Teally indebted lo all members of staff for their dedication and support. NODA conlribules to personal defined contribution pension schemes. The salaries of Head Office staff are sel following appraisals and consideration of locally benchmarked salaries. Achiev•ments and Performan¢0 The over-riding strategy for the period was for the Association lo be proactive in contacting members to offer and provide increased direct support, as well as continuing to explore opportunilles forloinl working. Membershlp As of December 2021, the number of Society members was 1.880 compared with 2,004 as at 31 December 2020. Individual and corporate membership was 729 compared wth 781 as at 3lDembeT 2020. NODA continues its strategy of exploring the polentl81 and improved services to members. Membgrshlp Servlcos Membership benefits include.. Personal representation. including regional support through NODA local committees. Excluslve NODA factsheets offering a wealth of information and guidanca. NODA Today magazine published 3 times a year. Pantomime scripts via dedicated website. DBS checking and application servic8. NODA Insurance Ithrough Lloyd & Whyte}- NODA Safe {heallh & safely support and advice). Legal advice provided by Counterculture LLP. NODA Theatre Summer School, a residential course supported by professlonal tutors in a wide-range of amateur theatre activity. Corporate partner product and servlces benefits for members. Long service awards, medals and badges. During 2021. 794 awards were made1763 during 2020}, including youth awards and certlflcates in the year. NODA awards are available to all NODA affiliated Societies lo present lo their own membeTS lo recogni5e their conlributson lo amateur theatre. Each region held its own programme and poster competitions, the winning entries going forward to the national competition. The national awards ceremony was held al the National AGM111 September 20211. Page 5
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 310ECEMBER 2021 Natlonal Conference NODA CIO Fifth National General Meèting. took place on 11ih September 2021 in Durham. Reglonal Conferences and Event$ All Regions held their own Conference andlor AGM either physically or virtually during 2021. Due lo the pandemic, some activities were held online. Sncluding regions holding training workshops and 8ward events. NODA Thaatre Summor S¢hool For a 5e¢ond consecutive year the effects of Covid prevented us from holding an in-person event. The effects of the pandemic meant the 2021 Summer School was held virtually. attended by 159 students. Volunteer Conference Valuing our Volunteers and how we can maintsin and imptove the Servi offering to members rernains a key focus. For all our volunteers a week-long virtual conference totsk place in June 2021. This included a full programme through weekend and evening sessions incorporatlng contributions from in-house and guest speakers, affording the opportunSty forlull interaction beeen volunteers and session leaders. There was a focus on specialisl areas such as finance. marketing, membership development and website tuition. Publishing Magazines.. During 2021. NODA Today saw 3 editions published and Circulated both online and by post. Website.. The website continues lo offer access to a range of information and service5, including the opportunity for members lo publicise their productions in Ihe'whal's On, section as well as online acces5 to pantomimes. The website had 178,305 visits in the 12 rnonlhs to 31 Dec 2021 compared with 252.733 in in the 12 months to 31 Dec 2020. This w8s a decrease of 29.44%. mainly due to minimal show reports and general NODA activity during this period. Fundraising Fundraising is undertaken by the charity and monitored by the Injstees. there are no extemal fundraisers. No national fundraising initiatives look place during 2021. NODA Llmltgd NODA Limited is the trading arm of the NODA. All profits generated by its activity were donated by Glft Aid lo the cio, to support its operation and ils service lo member5. Profft of £30,80412020 - £56.2391 for the year for the year ended 31 December 2021 from NODA Limited has baen Glft ded to the CIO. NODA Insurance continues lo provide coverforamaleurlhealre groups and provides commission income lo NODA Lt(J for the benefit of all members. A significant number of societies benefitted from the abandonment cover on their shows on the cancellation due to the closure ol venues Page 6
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 NODA Limited continues lo act as authors, agent for a very successful catalogue of pantomime Scripts, from a variety of authors. NODA Limited ¢onlinues to provide a range of Long Service Awards, Badges. Commendation Awards and Youth Awards for members of affilialed societies and individual members. The range of Long Service badges covers service from 10 years through to 70 years, service. Publlc Bgnoflt Amateur Theatre not only involves its members on stage bul also involves many others by assisting wllh the backstage a¢livilies and the many thousands of people who attend the various productions as members of audiences. NODA is heavily involved in arranging DBS checks for its members and involves itself in negotiations wilh outside organisalions. The Trustees refer lo the Charity Commission's general guanCe on Public Benefit when Tevlewing the alms and objectives of the Charity and in planning ils future activities. NODA Youth Our youth development programme continues to follow a strategy designed to encourage more young people to gel involved with amateur theatre on a voluntsry basis. This inilialive provides young people with many opportunities to davglop their inter-personal and other transferable skills. Reserves Policy and Financial Posltlon The Association believes it prudent. in order lo provlde reliable services over the longer term, to hold reserves lo absorb possible selbacks and lo take advantage of changg and opportunity. Reserves are required lo: Meet the running costs of the Association for a reasonable period, should any of ils customary soUS of income fall short of expectations or cease entirely.. Absorb any shortfall in income SUlting from a decline in the number of members,. Support any NODA region that requires additional funding lo cope with unforeseen financial difficulties. Explore new opportunities for income generation which might require initial capital investment. Reserves should ideally be equivalent to at leastone year's expenditure of the Assoclalion (parent}. The Reserves Policy, and the level of reserves required to satisfy the Association's objectives, is reviewed by the Management Committee on an annual basis. and any amendments presented to the Trustees for approval. Current levels of reserves are in line with policy. Combined resetves at the year-end for the Group totslled £1.082.776 12020 £1.108,504} Comprised of unrestrtcled funds lotalllng £1,077.29912020- £1.103,0271 and fftslricted funds lolalling £5,477 {2020- £5,477). Page 7
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Invostment Policy The investment policy of the Association is that funds in excess of current requirements shall be invested, hamng due regard lo the level of those funds and lo the foreseeable requirements Df the Association as set out in the reserves policy. Investments are lo be made with security and safely being the main crtler¢a', Trustees have a low appetite for risk. A reasonable market return is the secondary obj'ective. Inveslm&nl income received in the year amounted lo £14,234 {2020 £15,844). An unrealised gain on Tevaluatlons of Investments of £20.131 12020 a loss of £27,381) is in¢orporated into the results. The investments of the Association are held in charitable units comprised of holdings with a wide geographlcal spread ovor a variety of sectors. The fair value of the units had ris8n by 3.09% in the year. Overall. the position is much better than we could have envisaged 12 months ago. It is still uncertain lo determine what the impact may be on the investment return in the short lo medium 18rm as a result of the COVID-19 pandemic. Future Plan$ The council continues lo progress its rolllng five-year plan lo ensure that servi5 to members can be both enhanced and be suslalnable in the future. Implementation had slowed in the year due lo restrictions irnposed by the COVID- 19 pandemic. A drNe to recruit new members will be developed in the immediate months ahead. ICT Strategy The website has seen improvements to the home pages, and the pantomimg-orienled web page is now operational and is inlegraled with existing pages. P8ge 8
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 CQVID 19- E)cfENDED IMPACT The Pandemic continued lo curtail a ntjmber of activities of both the Association and its members with several venue5 subject to closure al the last minute for public performances. Where possible. our prograJnme of vi511s10 member societies and the provision of show reports was able lo lake place. The Head Office team were always available lo offer aVe and support when required. We continued to lobby Government departments to champion the cause of awnateur theatre, both nationally and al a local level. Membership subscriptions for 2020 were extended lo 314 March 2021. Consequently, the subscription year ran from lfjl April 2021 to 3151 March 2022. Our Trading subsidiary has been affected by the Pandemic with reduced Income from Royalties and Awards. Insurance commissions have been affected but not as severely as other tradlng aclivilies. Societies are still encouraged lo insure their assets and continue with their public Ilability insurances. NODA Insuran has been positively supportive of insured societies during this difficult time. The year 2021 was a challenging period though we can look forward lo a MO balanced year in 2022. The Trustees still consider the going concern basis of accounting lo be appropriate and this is outlined in more detail in accounting policy 2.2 in these financial statements. Audltors MHA Maclnlyre Hudson has indicated its willingness to be reappointed as slalulory auditor. This report was approved by the Trustees on 2 July 2022 and signed on their behalf by.. lanG Chairman Dale= Page 9
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION STATEMENTOFTRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustggs are responsible for preparing the Trustees. Report and the flnancial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice}. The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for each financial year. which give a true and fair view of the slate of affairs of the Group and the Charity and of their incoming resources and application of resour¢es, including their income and expenditure. for that period. In preparing these financial statements. the Trustees are required to.. select sublable accounting policles and then apply them consistently; observe the methcxls and principles of the Charities SORP IFRS 1021., make judgements and accounting eslimales that are reasonable and prudent., stste whether applicable UK A¢¢ounling Stsndards IFRS 1021 have been followed. subject to any material departures disc105ed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate to presume thal the Group will continue in business. The Trustees are responsible for keeplng adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities A¢1 2011. the Charity IAccounts and Reportsl Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant audit informallon of which the charitable company's auditor is unaware.. and the Trustees have taken all steps that they ought lo have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. y order of the Members of the Board of Trustees and signed on its behalf by.. V* Approved lanGC , Chaimian Date.. Page 10
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION Oplnion We have audited Ihg financial statements of National Operatic arKI Dramatic Assoclalion (the 'parent Charity) and its subsidiaries Ilhe 'Group'l for the year ended 31 December 2021 which comprise the Consolidated statement of Financial Aclivilies, the Consolidated Balance Sheet. the Charity Balance Sheet, the Consolidated ststement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kin9dom Accounting Standards, Including FinancAal Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Pracllcel. The financial statements have been prepared in aecordance with Accountlng and Reporting by Charflbes preparing their accounts in accordance vith the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Statement of Recommended Practice Issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginnSng on or after 1 January 2015. In our oplnion th8 flnancial slatgmenls.. give a true and fair view of the slate of the Group's and of the parent Charity's affairs as at 31 December 2021 and of the Group's incoming resources and application of resources, including its income and expendilufe for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounb"ng practi,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for oplnlon We conducted our audit in accordanc8 with InleTnalional Standards on Audillng IUKI IISAS IUKII and applitxble law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent c>f the Group in accordance with the ethical qUirements that are relevant to our audit of the financial statements in the United Kingdom, includin9 the Financial Reporting Council's Ethical Standard, and we have fuKilled our other ethica5 responsibilities in 8¢cordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provkle a basis for our oynion. Con¢lu$ions relating to going concern In audlting the financial $ts1grnents, we have wncluded that the Trustees, use of the going concgrn basis of accounting In the preparation of the financial stslements is appropriate. Based on the work we have performed, we have not identlfied any materfal uncertainties relating lo events or conditions that, individually or collectively. may cast significant doubl on the Group's or the parent Charity's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the re5PK)nsibililies of the Trustees with respect lo golng conrn are described in the relevant sections of this report. Page 11
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION {CONTINUEDI Other Informatlon The other information comprises the infomalion included in the Annual Report other than the financial slalemenls and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance concluslon Ihereon. Our spOnsIbl11ty is to read the other inforrnalion and, in doing so, ¢onsid8r whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsislencles or apparent material misstatements, we are required to determine whether this gives rise lo a materi81 misslalemenl in the financial statements themselves. If, based on the work we have perfomed. we conclLHJe that there Is a material MisstatenI of this other information. we are required to report that fact. We have nothing lo report in this regard. Matters on whlch w8 arg raquired to report by oxception We have nothing lo report in respect of the following matters where Ihe Charilies (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the Trustees, Report is inconsistent in any material respect with the financial ststemenls., or the parent Charity has not kept sufficient accounting records; or the parent Charity financial statements are not in agretsmenl wilh the accounting racords and retums. or we have not r8ceived all the infomalion and explanallons we require for our audit. Responslbllltles of Trustees As explained more fully in the Statement of Trustees, ReSpOnbillI1es the Trustees are responsible for the preparation of the financial slalements which give a true and fair view. ané for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement. whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charills ability lo continue as a going concern, disclosing, as applicable, matters related to going concern 8nd using the going concern basis of 8QUntIng unless the Trustees either intend lo liquidate the Group or the parent charity or to Cease operations, or have no realistic altemalive but to do so. Page 12
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION (CONTINUED) Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstatement, whether due to fraud or error, and lo issue an Auditors. Report that includes our opinion. Reasonable assurance Is a high level of assurance, bul is not a guarantee thal an audit conducted in a¢cordan¢8 with ISAS IUKI will always detect a material misstatement when it exists. Misslalemenls can arise frorn fraud 01 error and are considered rnaterfal if, individually or in the aggregate, they could reasonably be 9xpecled to influencg the gconomic decisions of users taken on the basis of these financial slatemenls. IrgUlaritIes. including fraud, a instances of non-cornplianee with laws and regulations. We design prOdureS in line th our responsibilities, outlined above. lo delect material misstaternenls in respect of irregularities. including fraud. The extent lo which our procedures are capable of delecling irregularities, induding fraud is detailed below. Enquiry of management and those charged with governance around actu818nd potential litigation and Claims., Enquiry of entity staff lo identify any instances of non-comp5iance with laws and regulations,. Performing audit work over the risk of management overrlde of controls, including testing of journal entries and other adjustments for appropriateness. evaluating the business rationale of significant transactions outside the normal course of business and reviewing accovnling estimates for bias.. Reviewing minutes of meetings of those charged with govemance., Reviewing finanaal ststement disclosUS and testing lo supporting documentation to assess compliance with applicable laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities, including those leading lo a material misslalement in the financial statements or non-compliance with regulation. This risk Increases the more that compliance Tmth a law or regulation is removed from the events and transa¢tions reflected in the financial statements, as we wll be less likely lo become aware of instances of non-complianee. The risk is also greater regardin9 irregularities OccUrrng due to fraud rather than error, as fraud involves intentional concealmenL forgery, collusion, omission or misrepresenlatlon. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or .ukJauditorsres onsibililies. This descriptson forms part of our Auditors. Report. Page13
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION (CONTINUED) Use ofour report This Teport is made solely lo the Charills Trustees, as a body, in accordance wlh Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the Charills Trustees those matters we are required lo slate to them in an Auditors, Report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the Charity and ils Trustees, as a body, for our audit work, for this report. or for the opinions we have formed. Rebecca Hughes Bsc {Hons} FCCA {Senlor ststutary auditor) MHA Maclntyre Hudson Chartered Accountants & Statutory Auditor P&terborough, United Kingdom Date.- 9 September 2022 MHA MaclntyTe Hudson are eligible to act as auditors in tems of section 1212 of the Companies Act 2006. Page 14
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 Unrestri¢t¥d funds 2021 Rgstrict8d funds 2021 Total funds 2021 Total fvnds 2020 Nots Income from: Donations 3,263 185,126 144,889 14.234 7.398 3,263 185,126 144,889 14,234 7,398 1.529 352,435 155,974 15,844 14, 750 Charitable activities Other trading activities Investments Other income Total incoma 354,910 354,910 540,532 Expendlture on: Ralsing funds Charitable activities 114,085 286,684 114,085 286,684 99.735 375,374 Total expenditure 400.769 400,769 475,109 Nel gainsl{losses} on investrnenls 2Q.131 20,131 f27,381) Net movement in funds 125.728} 125,7281 38,042 Reconciliation of funds: Total funds brought fotward Nel movement in funds 1,103,027 125,728) 5,477 1.108,504 125,7281 1,070,462 38,042 Total funds carried forward 1,077.299 5,477 1,082,776 1.108.504 The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derfve from continuing activities. Th8 notes on pages 19 to 44 form part of these financial statements. Page 15
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2021 2020 2020 Note Fixed asset$ Intangible assets Tangible assets Investments 14 15 16 20,000 130.490 670.905 24,000 138,266 650.774 821.395 813,040 Current assots St¢xks Debtors.. Amounts falling due within one year Cash al bank and in hand 17 18 14,496 143.569 304.812 12,967 51,208 357,611 462,877 415,786 Creditors.. Amounts falling due thin one year 19 1201,4961 (120.322J Not current assets 261,381 295,464 Total nèt assets 1,082,776 1, 108,504 Group funds Reslricled funds Unreslricled funds 20 5.477 1.077.299 5,477 1.103,027 20 Total funds 1.082,776 1. 108,504 The financial statements were approved and autt)orised for issue by the Trustees and signed on IheiT behalf by.. lanG£o Chairman Dale.. e • ' o(.> The notes on pages 19 10 44 form part of these financial statements. Page 16
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION CHARITY BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2021 2020 2020 Note FixÈd assets Intangible assets Tangible assets Investments 14 15 16 20,000 130,490 671,005 24,000 138,266 650.874 821,495 813.140 Current assets Debtors.. Amounls falling due within one year Cash al bank and in hand 18 141.488 279.7YO 56,712 319.084 421.258 3T5, 796 Creditors.. Amounts falling due wlhin one 19 1181.608} (102, 747) Net ¢urrent a$s¢t$ 239,650 273,049 Total net a55ets 1,061,145 1,086, 189 Charity funds Restricted lunds Unrestricted funds 20 5.477 1.055.668 5,477 1,080, If 2 20 Total funds 1,061,145 1,086, 189 The financial statements were approved and authorised for issue by the Trustees and signed on their behall by= lanG ox Chairman The notes on pages 19 10 44 form part of these flnancial statements. Page 17
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Note Cash flows from opgratlng a¢tlvltlgs Nel cash provided by l {used inl operating activities 22 152,4081 1,445 Cash flows from investing activities Investment income Pur¢has8 of tangible fixed assets 14.234 18.5651 15,844 (9,267) 15 Net cash provided by investing activities 5.669 6.577 Change In cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 146.7991 351,611 8.022 343.589 Cash and ca$h equivalents at the end of the year 23 304.812 351,611 The notes on pages 19 10 44 form part of these financial statements. Page 18
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 General informatlon National Operatic and Dramatic Association is a Charitable Incorporated Organisation {'CIO"l and is registered wlh the Charity Commission Icharity Registered Number 11712161 in England and Wales. In the event of the Charlty belng wound up. the liabllity of the guarantee is limlled lo £1 per Member of the Charity. The address of th8 registe(j office is given in the Charity information on pag8 1 of these financial slalements. The nature of the Group's operations and principal activities are detailed in the Trustees Report. A¢counting pollcles 2.1 Basls of preparatlon of flnanclal stat&m8nts The financial statements have been prepared in accordan with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordan¢e with the Finanryal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Flnancial RetK)rtlng Standard applicable Sn the UK and Republic of ITe18nd IFRS 1021 and the Charities Act 2011. National Operatic and Dramatic Association CIO meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevent accounting policy. The financlal slalements are presented in 8teding which is the functional currency of the Group and amounts are rounded to the nearest pound. The Consolidated Ststement of Financial Artivilies ISOFAI and Consolidated Balance Sheet consolidate the financial statements of the Charity and ils subsidiary undertaking. The results of the subsidlary are consolidated on a line by line basis. 2.2 Going conc8m The financial slalements have been prepared On 8 going concern basls. The TrusleeslDirecloTs have considered felevanl information including annual budgets, forecast future cash flows and the Impact of subsequènl events in making their assessment. Based on these assessments and hawng regard to resources available to the entty th8 TrusteeslDirectors have concluded that they can continue lo adopt the going concern basis in preparing the annual report and accourbts. Page19
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 Accounting policies (continued) 2.3 Income All income is recognised once Ihg Group has enliuement to the income. il is probable that th8 income will be received and the amount of income receivable Can be measured reliably. Subscriptions were payable by members on a calendar year basis. However. following the COVID- 19 pandemSc, the subscripllon perlod was adlusled lo a 15 month period from 1 January 2020 to 31 March 202188 a gesture of goodwill to ils members. The subscrlpllon period then reverted back to being annual thereafter with the next subscription period being for the period 1 April 2021 10 31 March 2022. Renewals received in advance for the next subscription period are included in deferred income. Related gift aid on subscriptions is credited on a tax year basis. Summer School and conference income is recognised on a receivable basis when the Group is entitled to the income. Amounts received in advance of events are recognised in deferred income. Royalties are in respect of pantomimes and are recognised in Ihg accounts with refergnce to the date when the Group is enliued lo the income. Voluntary income is received by way of donations and gifts, including lated glft-ald, and is included in full in the Consolidated Statement of Financial Activities when receivable. Volunteer time is not included Sn the flnancial slalemenls. Interest on funds held on deposit and distributions on investments are included when received by the Group. Distributions Irom shares in group undertakings are included when receivable by the Charity. Legacy income is recogni5ed when the Group 15 entitled lo the income, with enb'llemgnl being the eadier of the Group being notified of an impending distribution or the legacie5 being received. Other income is recognised in the period in which it is receDiable and lo the extent the goods have been provided or on wmpletSon of the service. Page 20
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting poli¢ies {¢ontinuedl 2.4 Expenditure AJI expenditure is accounted for on an aTualS basis and has been classified under headings that aggregate all costs related lo the category. Expenditure is recognised once there is a legal or con51ruclive obligation lo transfer economic benefit lo a third paty. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation Can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaknng each actSvlty. Direct costs attributable to a single activity are allocated directly lo that a¢tivity. However, the Cost of overall direction and admini5tsalion of each activity, comprising the salary an(1 overhead costs of the central function, is apportioned on the following basis. These are an eslirnale, based on staff lime. of amount attributable lo each activity. Membership National conference l AGM Regional events Summer School Publishing Support costs Governance costs 2021.. 45.5Yo 2021: 2.OVD 2021.. 0.4V. 2021.. 8.1°1. 2021.. 14.6Q/o 2021.. 19.2°/0 2021.. 10.2Yo 2020= 45.5* 2020= 2.DY. 2020: 0.4Yo 2020: 8.10/0 2020= 14.60 2020= 19.20 2020= 10.2% Support costs are those functions that assist the work of the Group bul do not directly undertake harilable activities. Such costs are reallocated lo each of the activiles on a staff lime basis. Governance costs are those incurred in connection with administration of the Group and compliance with constitutional and slalulory requirements. Expenditure on raising funds comprise the costs of trading of the wholly owned subsidiary, NODA Limited. Expenditure on charitable activities Is Incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs. All expenditure is inclusive of iirecoverable VAT. 2.5 Taxation The Group is exempt from corporation lax as all of ils income is charitable and is applied for ¢haritsble purposes. The Group's trading subsidiary. NODA Limited. gift aids all taxable profits to the Charity by rneans of a distribution. Page 21
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting poli¢ie$ l¢ontinuedl 2.6 Intangible assets and amortisatlon Intangible assets costrng £1,000 or more are capltalised and recognised when future economic benefits are probable and the cost or valug of the asset can be measured reliably. Intangible assets ar6 initially recognised at cost. After recognition. under the cost model, Snlanglble assets are measured al cost less any accumulated amortSsatlon and any accumulated irnpairmenl losses. Amortisalion is provide(l on intangible assets al rates calculated lo write off the cost of each asset on a slraight-line basis over ils expected useful life. Amortisalion 15 provided on the following basis.. P8ntomime script rights 10 Yts amortised on a straight line basis 2.7 Tangible fixed assets and d¢pre¢latlon Tangible fixed assets costing £1,000 or more are ¢apitalised and recognised when future economlc benefits are probable and the cost or value of the asset can be measured rellably unless their economic life is estimated al 12 months or less and are then expensed in the Consolidated ststemenl of Flnanclal Aclivilies. Tangible fixed assets ale initially recognised at cost. After recognllion, under the cost model, tangible fixed assets are measured at C05t less accumulated depreciation and any accumulated irnpairment losses. Al costs incurred lo bring a tangible fixed asset into ils intended working condFtion should be included in the measurement of cost. Depreciation is charged 50 as lo allocate the cost of tsngible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Freehold property Property improvements Fixtures and fittings Cornputer equipment 29/0 slraighl line 200k straight line 25 /0 Straight line 20Yo and 33.33% straight Ilne Freehold land is nol depreciated. 2.8 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value al the Balanc& Sheet date, unless fair value cannot be measured reliably in which Case it 5s measured at cost less impairment. All gains and losses are taken lo the Consolidated Statement of FinancSal Activities as they arise. The Consolidated Statement of Financial Activities includes all net gains and losses arising on revaluation and disposals throughout the year. As investments are valued to falr value continuously. no realised gains or losses arise. Investments in subsidiaries are valued al Cost less provision for impairment. Page 22
NATIONAL OPEIiATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies (continued) 2.9 Stocks Stocks are valued al the lower of cost and net realisoble value after making due allowance for obsolete and slow-moving slockg. 2.10 Debtors Trade and other debtors are re¢ognis8d al the settletnenl amount after any tradg discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.11 Cash at bank and In hand Cash at bank and in hand includes cash and short-lerm highly liquid investments wilh a short maturity of three months gr less from the dale of acquisition or opening of the deposit or similar account. 2.12 Liabiliti8s and provisions Liabilities are recognised when there is an obligation at the Balance She@1 date as a result of a past event, it is probablg that a transfer of economi¢ benefit will be requir8d in settlement. and the amount of the settlement bè eslimaled reliably. Liabilities are recognised al the amount that the Group anticipates it will pay to sewe the debt or the amount it has reiVed as advanced payments for the g¢x)ds or seryices it must provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect of the lirne value of money is material, the provision is based on the present value of those amounts. discounted al the pre-tax discount rate that reflects the risks speciflc lo the liability. The unwinding of the discount is recognised in the Consolidated Slalement of Financial Activities as a finance cost. 2.13 Financlal Instruments The Group only holds basic Financial Instruments. The fin8nclal assets and financlal Ilabilltles of the Group are as follows.. Debtors trade and other debtors (including accrued Sncomel arg basic financial instrumgnts and are debt instnjments measured at amortised cost as detailed in Note 18. Prepayments are not financlal instruments. Cash at bank- is classiffied as a basic financial instrument and is measured at face value. trade creditors. ac¢ruals 8nd other creditors will be classified as financial instruments. and a measured at amortised cost as detailed in Note 19. T8xalion and social securty are not Included in the financial instruments disclosure. D8f8rred income is not deemed lo be a financial liability, as in the cash settlement has already taken place and there is simply an obligation lo deliver charitablè services rather than cash or another financial instrument. 2.14 Branches All branch transactions are accounted for gross in the Group's accounts. Page 23
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies Icontinuedl 2.15 Operating l¢as¢s Rentals paid under Dperaling leases a charged to the Consolidated Statement of Financlal Activities on a slraighl line basis over the lease term. 2.16 Pensions The Company operates a defined contribution plan for ils employees. A defined contribution plan is a pension plan under which the Company pays fixed conlributlons into a separate entity. Once the conlrlbullons have been pald the Company has no further payment obligallons. The contributions are recognised as an expense in profil or loss when they fall due. Arnounts not paid are shown in accruals as a liability in the Balance Shegt. The assets of Ihe plan are held separately from the Company in independently administered funds. 2.17 Fund accounting General funds ar8 unreslricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other PUTpose5. Designated funds comprise unreslrbcled funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial stalemenls. Restricted funds are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and adminislering such funds are charged against the specific funtj. The aim and use of each reslricled fund is set out in the notes lo the financi21 statements. Investment income, gains and losses are allocated to the appropriate fund. Critical accountlng estlmatos and areas of judgement Eslimales and judgements are continually evaluated and are based on historical expedence and other factors. induding expedalions of future events that are belifyved to be reasonable under the circumstan¢&s. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions cx)ncernlng the future. The resuming accounting estimates and assumptions will. by definition, seldom equal the related aGlual results. The eslirnates and assumptions that have a signili¢ant risk of causing a material adjustment lo the carrwng amounts of assets and liabilities wlhin the next financial y&ar are discussed below. Basis of valuation of f¢xed assets- Intangibles Expected life of freehold property Support cost allocation Page 24
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from donations Unrestricted funds 2021 Total fund$ 2021 Donations 3,263 3,263 Unrestricted funds 2020 Total fvnds 2020 Donations 1.529 1,529 Analysis of incom¢ from ¢harftable actlvities - by activity Unrestricted funds 2021 Total fund$ 2021 MembershSp National conference Regional events Summer school 162,290 14.346 987 7,503 162,290 14,346 987 7,503 Total 2021 185,126 185,126 Unrgstri¢18d funds 2020 Restricted funds 2020 Total funds 2020 Membership National confergnce Regional events Summer school 197,543 121 191,543 121 142,571 8,700 142,571 12,200 3.500 To(al 2020 348.935 3,500 352,435 Page 25
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Trading activities 2021 2020 Charity trading income Tiading subsidiary 144,889 155,974 144,889 155.974 Fundraising trading expenses Trading subsidlary- Dlrecl costs 1114,0851 (99,735) 1114,0851 (99.735) Net income from trading activities 30,804 56,239 The wholly owned trading subsidlary, NODA Limited, is incorporated in England and Wales, rggistered office 15 The Metro Centre, Woodslon. Pelerborough, PE2 TUH (Company Registration Number 002415721 and pay5 all of its profits lo the Charity under the gift aid scheme as a distribution. NODA Limited undertakes the trading activities of ils charitable parent. National Operatic and Dramatic Association (Charity Registered Number 11712161. A summary of the financial perfomiance of the subsidiary in isolation is above. In 2021 and 2020, all income and expenditure from trading activities was lo I from unrestricted funds. The transfer under gift aid of the trading profits of NODA Limited as a distribution to the Charity was £30.804 (2020- £56,239). Amounts owed to NODA Limited from the Charity as al 31 December 2021 was £4,892 (2020- £19.884). Page 26
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2021 Income from Investments Unrestrictèd funds 2021 Total funds 2021 M&G Investments and Charities Property Fund Bank Interest receivable 14,220 14 14,220 14 Total 2021 14.234 14,234 Unrestricted funds 2020 Total funds 2020 M&G Investments and Charities Property Fund Bank interest receivable 15,389 455 15,389 455 Total 2020 15.844 15,844 Page 27
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Other incom9 Unrestricted funds 2021 Total funds 2021 Other income Email newsletter advertising income Royalties 592 592 2.806 4.000 2,806 4,000 Total 2021 7,398 7,398 £NIL (2020 - £8,793) was received from the Govemmenys CJRS grant scheme in the year in respect of furloughed stsff and Is included In other Income. Unrestricted funds 2020 Total funds 2020 Other income Email newsletter advertising income Royalts'es 9,650 1, 100 4,000 9,650 1, 100 4,000 Total 2020 14,750 14,750 Page 28
NATIONAL OPEIiATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Analys1$ of expendmure on charitable activities - by activity Activitlès undertaken directly 2021 Support Costs 2021 Total funds 2021 Membership National conference Regional events Summer school Publishing 85,846 31,025 13.449 25,798 36.635 60,480 2,703 489 10,807 19,452 146,326 33,728 13,938 36,605 56.087 Total 2021 192,753 93,931 286,684 Activities undertaken directly 2020 Support costs Tot81 funds 2020 2020 Mgmbetship National conference Regional events Summer school Publishing 90.7T5 5, 146 154,470 21, 771 34,118 44,488 1,987 361 135,263 7.133 154,831 29,720 48,427 7,949 14,309 Total 2020 306.280 69,094 375,374 Page 29
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. Analysls of ¢xp•nditure orb charitable activitl85- by activity Icontinu8d} Analysls of dlred cost$ Natlonal ¢onferenco R8glonal ovAnts Summer School 2021 Total funds 2021 Mernber5hip 2021 Pubfi$hing 2021 2021 2021 Stalf costs Other staff Ixjsts Travd and meelng expense5 Venue and meeting expenses Postage, prinlng, slallonery and Idepnts Computer consultancy and maintenance Website Insurance Repaiis and renewals Professional fees Publislyng and adv8rtisir 53,994 4.416 13.248 2.412 197 449 36 6,221 9,648 789 17.367 1.420 83.860 6,858 19,469 28.337 6.739 15.045 $0,121 1,769 79 14 316 2.747 2.860 6,014 203 1.532 2,339 2,B60 6.014 203 1,532 2,339 16.750 16,750 Totaj 2021 Nalional Reg01 ev&nts 20ZO Sufflmer school 2020 Tolal runds 2020 M8mbtrrship Ptsblishin9 2020 2020 2020 Staff COSIS Other staff costs Trgvel and meeting expenses Venue and meeting 8XP8nses Postage. Fyinting, 8tatknnery and telephone Compuler consultancy and rnainlenance Website Repairs and renewals Bad d8bls PrOfeSonal fees Publlshing and adverhsirrfj 54,653 1.291 13,792 2,442 444 io 5,289 9,766 231 17,579 416 84,884 2,Q06 19.081 5.527 148,706 11,309 168,072 2.768 1?6 21 465 837 4.207 2.913 3.590 1,832 2,913 3,590 1,832 7.428 2,981 400 18.267 tS,286 T¢ta12020 Page 30
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. Analysis of expendtturo on charitable activitle$- by aetlvlty leorttinuedl Analysls of support co¥ts National eonfét¢n¢e 2021 Reglonal events 2021 summer school Total funds 2021 Membershlp 2021 Publishing 2021 2021 Staff costs Depredation and amorlisalion Travel and tngeling 8xp8n$es Postage, printiTrJ. statsonery and telèphone Compul8r consultancy and maintenance Ral85 and power Insurance Repair8 and renéwa15 Professional fees Bank charge5 and inlorest payable Training and r8trui1rn8nt Sundry expenses Sponsorship Governance Partial exerntknon VAT 4djuslment 7.764 347 63 1.388 2.498 12,060 13.098 16 585 108 2,340 4,212 20,341 25 22 155 1,842 1,401 4.820 3,421 797 329 250 861 611 143 592 451 1,550 1.101 256 2,860 2.176 7,48S 5,314 1,238 63 215 153 39 2.718 3,060 1,660 1.28S 14.423 22 25 486 547 297 229 2.577 874 984 534 413 4,639 4,221 4,753 2,578 1,994 22,4 137 74 57 644 10 117 3,695 165 30 660 1,188 5,738 Total 2021 R8081 Èvents Summw school 2020 Tot&1 funds Membership 2020 conferCe 2020 Publlshlng 2020 2020 2Q20 staff costs DepcIall0ft and amortisation Travel an¢J meeting expense$ Postage, printing. slalionery and telephone Computer consultancy 8nd maintenance Rates and tK>wer Insurance Repaifs and renewals PrOfessial fees Bank charg8s and Intoro$1 payable Tralning and recruitment Sundry expenses Sponsorship Govemance costs 7.860 351 64 1.405 2,529 12,209 12,829 97 573 104 2,292 17 4,126 31 79.924 150 709 32 127 228 1.102 1,876 1.403 4.709
.S70
2,062 84 63 210 T5 92 Is 335 257 847 603 451 1,515 537 663 2.913 2.179 7,313 2,594 3.203 38 14 369 1,863 145 270 200 10,014 83 15 33 26 48 36 1,789 599 47 87 64 3,221 2.893 225 419 571 15.552 12 447 81 Tolal 2020 Page 31
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 10. Governance costs 2021 2020 Auditorfs remuneration Travel and meeting expenses Postage, printing stationery and telephone other staff costs 16.172 4,847 398 17,538 1,821 581 289 983 22,400 15,552 Total Governance costs for the year exclude Governan staff costs of £12,060 (2020 - £12.209) which have been allocated lo Support 51aff costs (see Note 91. In 2021 total Governance Costs, including Governance glaff ¢osls, were £34,460 (2020- £27,761). 11. Audltoff$ rèmuneration 2021 2020 Fees payable to the ChaTity's auditor for the audit of the Charity's and its subsidiarvs annual accoun15 Fees payable to the Charitys auditor in respect of.. All other non•audil services not included above 11,672 14,350 4.500 3.188 Page 32
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 12. Staff costs Group 2021 Group 2020 Charlty 2021 Charity 2020 Wages and salaries Social security costs Pension costs 142,071 10,233 7.439 144,432 9,893 7.197 85,342 6,105 4,473 86,659 5,936 4,498 159,743 161,522 95,920 97,093 The average number of persons employed by the Charity during the year was as follows: Group 2021 No. Group 2020 No. Trading INODA Lirnitedl Membership Support costs No employee received remuneration amounting lo more than £60.000 ellher year. 13. Trustees. remuneratlon and expenses The Trustees, who comprise all the Key Management Personnel ol the Group. nelther received nor waivedany remuneration or other benefits during the year (2020- £NIL). During the year ended 31 December 2021, travel expenses lotslling £13.759 were reimbursed or paid directly to 18 Trusteess (2020- £8, 770 to f 2 Trusl8es). Page 33
NATIONAL OPERATIC AND DRAMAllC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. Intanglble a55ets Group and Charity Pantomime script rights Cost At 1 January 2021 40,000 At 31 December 2021 40,000 Amortl$ation At 1 January 2021 Charge for the year 16,000 4,000 At 31 December 2021 20,000 Net book value At 31 December 2021 20,000 Al 31 December 2020 24,000 Page 34
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 15. Tanglble flxed assets Group and Charlty Property Improvo- Flxtures and ments flttlng$ Freehold property Computer equlpment Total Cost Al 1 January 2021 Additions 124.899 7,677 1,350 5,392 51,963 7.215 189.931 8.565 At 31 December 2021 124,899 9.027 5,392 59,178 198.496 Depreciatlon Al 1 January 2021 Charge for the year 10,028 2.735 4.194 1.527 4.299 338 33.144 11.741 51,665 16,341 At 31 December 2021 12.763 5,721 4,637 44,885 68,006 Net book valu¢ At 31 December 2021 112,136 3.306 755 14,293 130,490 At 31 December 2020 114,871 3,483 1.093 18,819 138,266 Page 35
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 16. Fixed asset Investments othor inv8slm¢nts Group Cost Al 1 January 2021 Revaluations 650,774 20,131 At 31 December2021 670,905 Nèt book value At 31 December 2021 670.905 At 31 December 2020 650. 774 Invostmènts In subsidiary Other company investments Total Charlty Cost or valuatlon Al 1 January 2021 Revaluations 100 650,774 20.131 650.874 20.131 At 31 December 2021 100 670,905 671,005 Nel book value At 31 December 2021 100 670.905 671,005 At 31 December 2020 100 650, 774 650,874 The wholly owned subsidiary, NODA Llmited, is included in the consolidated financial slatemenls. Its net assets at 31 December 2021 were £22.415 (2020- £22,415). As at 31 December 2021. £4,892 was owed to NODA Limited and is included in creditors {2020'. £19,884 owed by NODA Limited and is included in debtors). Page 36
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Sto¢k5 Group 2021 Group 2020 Pantomime scripts and gocxls for resale 14.496 12,961 18. Debtors Group 2021 Group 2020 Charity 2021 ChariÉy 2020 Due wlthln one year Trade debtors 98.907 12.642 95.282 9, 731 19,884 7T2 26.325 Amounts owed by group undertaking5 Other debtors Prepayments and accrued income VAT recoverable 772 28.899 15.763 37, 794 30.443 15.763 143,569 57,208 141.488 56. 712 19. Creditors.. Amounts falling due within one year Group 2021 Group 2020 Charity 2021 Charity 2020 Trade creditors Amounts owed to group undertakings other tsxation and social security Other creditors Accruals and deferred income 9.390 9.196 7,776 4,892 8,221 314 2,151 189,641 1,672 29.899 79.555 6,142 28,943 59,441 1.213 167,727 201.496 120.322 181.608 102,747 Page 37
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Group 2021 Group 2020 Charity 2021 Charty 2020 Deferr&d Income Deferred income at 1 January Rasources deferred during the year Amounts released from previous PerdS 51,789 159,664 151.7891 285.011 51,789 (285.07 lj 49,263 154,827 149.2631 275, 123 49,263 (275,t23J Deferred income at 31 D8¢gmb&r 159,664 51, 789 154.827 49,263 Deferred Income comprises income relating to.. Subscriptlons Regional conference income Pantomime commissions due Summer school InMe 20. Statement offunds- Group statsment of funds - ¢urr¢nt year Balance at 31 Galn$l December {Lossesl 2021 Balance at 1 January 2021 Transfers Inlout Income Expendlturg Designated funds Kenneth Bames 8tJrsary Fund John Richards Training Fund Fixed Assets Fund 1.026 1.026 22,660 22,660 138,266 {16,341} 8,565 130.490 161,952 116,3411 8,565 154,176 Page 38
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Statement of funds Icontinuedl Statement of fund$ - Current year (continued) Balan¢e at 31 Gainsl Decgmbar (Losses) 2021 Balance at 1 January 2021 Transfers inlout Incoma Expendlture G8noral funds Ggneral Funds Trading Subsidiary Revaluation Reserve 936.400 210.021 {238,8S51 {9.249) 898,317 22,315 144,889 (145,573) 684 22.315 {17.640} 20,131 2,491 941,075 354.910 1384,4281 18,5651 20,131 923,123 Total Unrestricted funds 1.103.027 354,910 (400,769) 20.131 1,077.299 Restricted fund$ Rene Dearden Memorial Training F(Jnd stephanie SDrgo-Hudson Benevolent Fund 1,927 1,927 3,550 3,550 5,477 5.477 Total of funds 1,108,504 354,970 {400,7691 20,131 1,082,776 Page 39
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Statement of funds l¢ontinuèdl Stslament of funds- prior year- Group Balance at 31 BalanGe at l January 2020 Transfers in/oul Gain (Lossesj December 2020 Income Expendilu Doslgnated funds Kenneth Barnes Bursary Fund John Richards Training Fund Fixed Assets Fund 1.026 1.026 22,660 22,660 t44.924 (15,924) 9,266 t38.266 168.610 (15,924) 9.266 161.952 General funds General Funds Trading Subsidiary Revaluation Reserve 867,819 381,058 (359,450) 46,973 936.400 22.315 155.974 (99. T35) (56.239) 22.315 9,741 (27.381) (17,640J 899,875 537.032 (459, 185) (9.266) (27,381) 941.075 Total Unrestrictod fund$ 1.068,485 537,032 (475,109) (27.381) 1, 103.027 R&strl¢ted funds Rene Dearden Memorial Training Fund Stephanie Sorgo-Hudson Benevolelll Fund 1.927 1.927 50 3,500 3.550 Page 40
NATIONAL OPERATIC AND DFiAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 20. Staternenl of fund$ {¢ontlnued) statement of funds - prior year {continued) Balance ar Balance af 1 January 2020 31 Dernber 2020 rr8nsfers in/oul Gain (Losses) Income ExpendAture 1,977 3,500 5.477 Total of fund$ 1.070,462 540,532 (475, 109) (27,381) 1, 108,504 20. Statament of funds Icontlnued) Purposes of D?signat•d funds Kenneth Barnes Bursary Fund - To finance summer school bursaries. John Rlchards Training Fund - To finan training in the dramatic arts. Fixed Assets Fund This represgnts the value of general funds investèd in land and buildings and other fixed assets and ts therefore not readily available lor other purposes. Purposes of General funds General Funds The 'frge' reservgs after all designations and restrictions which can be usgd in accordanc8 with the charitable objects at the discretion of the Trustees. A transfer of £8.565 was made lo the Designated Fixed Asset fund lo reflect the fixed as5el additions during the year. Trading Subsidiary- Reseryes in relation to the performance of the trading subsidiary. NODA Limited. Revaluallon Reserve - Being the difference between the historic cost value antj the year erMI fair value of investments a5 per Note 16. Purposes of Restrictèd funds Rene Dearden Memorial Fund - To finance further training in the NODA North region. Stephanie Sorgo-Hudson Ben8volant Fund To assist summer school students in cases of financial hardship. Page 41
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2021 21. Analysis of net assets between funds Analysi5 of net as5et5 between funds - current yaar Unrestricted Restricted funds fund$ 2021 2021 Total funds 2021 Tangible fixed assets Intangible fixed assets Fixed asset investments Cuent assets Creditors due within one year 130,490 20,000 670,905 457.400 {201.4961 130,490 20,000 670,905 462,877 (201,496} 5.477 Total 1,077,299 5,477 1.082,776 Analysis of not assets b&tween funds - prior year Unrestricted funds 2020 Restricted fvnds 2020 Total funds 2020 Tangible fixed assets Intangible fixed assets Fixed asset inveslmenls Current assets Creditors due within one year 138.266 24.000 850,774 410,309 (120.322) 138,266 24,000 650, 774 415,786 (120,322) 5,477 Total 1, 103,027 5,477 1, 108,504 Page 42
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 22. Roconciliatlon of net rnovement in funds to net cash flow from operatlng actlvltles Group 2021 Group 2020 Nel lexpenditureyincome for the year las per Slalemenl of Financial A¢Uviliesl 125.7281 38,042 Adlustments for. Depreciation charges AmorUsation charges {Gainsylosses on investments Investment income Ilncreaseydecrease in stocks Ilncreaseydecrease in debtors Increasel{decreasel in creditors 15 16,341 4,000 120,131} {14,2341 {1,5291 192.3611 81.174 15,924 4,000 27,381 (15,844) 6,309 1T7, 795 (252, 162) 14 16 17 18 19 Net cash provlded (used inllby operating a¢tlvltlos 152.4681 1,445 23. Analysls of cash and cash equlvalents Group 2021 Group 2020 Cash in hand 304.812 351.611 Total cash and ¢ash equivalents 304.812 351,611 24. Analysls of changes in net debt At31 Dec9mber 2021 January 2021 Cash flows Cash at bank and in hand 351,611 {46,7991 304,812 351.611 {46,7991 304,812 Page 43
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 25. Pension commKments The Group operates a defined conliibufjon pen&on scheme. The assets of the scheme are held separately from those of the Group In an independently administered fund. The pension cost charge during the year represented contributions payable by the Group lo the fund and amounted to £7,439 (2020- £7, f 97). Contributions lotalllng £938 (2020 - £956) were payable to the fund at the Balance Sheet dale and are included within other creditors falling due within one year. 26. Operating 18a$o Commitments At 31 December 2021 the Group and the Charity had commitments to make future minimum lease payments under non-¢ancellable operating leases as follows.. Group 2021 Group 2020 Not later than 1 year Later than 1 year and not later than 5 years 1,169 1,559 1, 169 1.169 2,728 27. Related party transactions The National Operatic and Dramatic Association has not entered into any other related party transactions duringthe year, other than those disclosed in notes 13 and 16. 28. Controlllng party The Trustees do not consider there lo be a single controlling party. Page 44