Charlty reglstratlon number 1171216
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Patrons
The Lord Lloyd-webber
Connie Fisher
Truslees and Regional Counclllors
Christine Hunter Hughes. President from 16 Seplembei 2023
Nick Lawrence, President until 16 September 2023
Graham Liverton, Vice President from 16 September 2023
Chrisline Hunter Hughes, Vice President until 16 September 2023
Nick Lawrence. Immediate Past President from 16 September 2023
Goidon Richardson, Immediate Past President until 16 September 2023
lan G Cox, Chairman
Stuart McCue-Di¢k, Vice Chairman
John Barnes, Life Member representslive
Gordon Richardson, Life MeTnber representative from 16 September
2023
Michael Ha5tilow, Life Member represenlalive until 16 September 2023
Jacqueline Sledman, Chairman NODA Theatre Summer School
Tessa Davies, Regional Counc411or. East
Jules Jones. Regional Councillor, East Midlands
Pamela Armstrong, Règional Councillor, London
Peter Oliver, Regional Councillor, North
Leslie Smith, Regional GouncillDr, North East
Andy M¢Ni¢holas, Regional Councillor. North Wesl
SILJart McCue-Dick, Regional Councillor, Scotland
Kay Rowan, RegiDnal Councillor, South East
Giahaw Liverton, Regional Councillor. South West
Sharon Davies. Regional Councillor. Wales and Ireland
Andy Brown, Regional Councillor, West Midlands
Charity number
1171216
Prln¢lpal address
15 The Metro Centre
Woodslon
Peterborough
Cambridgeshire
United Kingdom
PE2 7UH
Auditor
Azets Audit Services
Weslpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
Bankers
Unity Trust Bank
Four Brindley Place
Birmingham
B1 2HB

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Prlncipal staff
Dale Freeman, Chief Operating Officer
Rob Williams, Markeling and Publishing
Michelle Callicott. Finance Manager
Liam Nixon, Marketing & Membership Se￿I￿s Assistant lJoined 8
August 20231
Heathei Knapp, SecrelarylAdminislralor (Joined 21 November 20231
NODA Limlted
NODA Ltd, a wholly owned subsidiary of the Association. Registered Number 00241572
Registered office- 15 The Metro Centre. Pelerborough. PE2 7UH
Directors - Eric Smart Ichaiimanl. Michael Haslilow. lan G Cox. Christine Hunter Hughes, Pamela Amislrong, Fred
Piggford IRe5igned 16 October 20231. Neil Maidman IResigned 17 August 20231

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
CONTENTS
Page
Trustees, report
Stalèmenl of trustees, responsibilitie5
Independent auditor's report
8-10
Statement of financial activities
11- 12
Balance sheets
ststement of c85h flows
Notes lo the financial slalemenls
15-36

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Board of Tmslees present their report together with the audited fi'nancial statements of National Operatic and
Drarllalic Association CIO, the Charity, and the Group, for the year ended 31 December 2023.
Reference and adminislralive Information sel out on the previous pages form part of this rèport.
The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial sl8lements and comply with the CIO'S governing document, the Charilies Act 2011 and 'Accounting and
Reporting tiy Charities". Slalemenl of Recommended Practice applicable to charities preparing their accounts In
accordance with the Financial Reporting S18ndard applicable In the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 20191.
Oblectlves and a¢tlvltl¢$
The objects of the association are to advan￿ education by promoting and improving the art of Mus￿, theatre
and drama lo stimulat¢ public appre¢ialion ol such arts, generally lo cullivale the improvement ol wblic taste in
such arts ancl lor those purposes lo do all or any of the following..
To organise and arrange schools and coijrses.
To provide a general advisory and advocacy service
To publish information about amateur theatre.
To hold conferences and meetings. and
To do all such things as are in¢idenl81 or conducive lo the attainment of the above objects or any of them.
NODA alms
To give a shared voice to the amateur theatre secloi.
To help amateur theatre groLJPS and individuals achieve the highest sl8ndarLYs of best practice and
performance
To provide leadership and advice lo enable the amateLJr theatre sector to tackle the challenges and
Dpportunities ol the 21st Century.
NODAVision
Following the culmination of two years, work, In 2024, we have developed a new vision for NODA of the future Al
the heart ol our new strategy 15 a challenge, and il is one io embrace il we are to ensur& that NODA, in the fuluie,
fuifilg its potènti31 and has thè graatèst In)p3Ct going forwards. That challenge is to make sure that NODA is - and Is
known for and respected for being - relevant, visible and valued.
Relevant.. If we are to thrive. we must make SLJre that we celebrate. support 8nd champion all of arymleur theatre
and that. as well as providing the SLJPPOrt and services our members need, we are al the centre ol conversatlQnS
about amateur theatre and Its many benefits By supporting members, championing thè sector and rèsp(nding lo
issues and opportunities on their behalf. we can continue to inspire and lo create opportunity for i ndividuals. groups
and their communities.
Visible.. we are going to take a leading role in promoting the unique benefits and positive impacts of this wonderful
pastime, as well as 5UPPOrtin9 our members lo spread the word. Together, we will continue lo inspiie all the
audiences and stakeholders who can help our members, and NODA, lo Ihiive.
Valued NODA must recognise that we are here for the benefit of our members and volunteer community. So we will
always provide support and services ol the highest quality and effectiveness for them. as well as helping lo create
opportunity., so that we can help them lo be the best they can be and lo thrive.
)elher Il Is lobbying govemment on current issues affecting our sector. or continuing lo support member5 to put
on the best shows in their communities. NODA is here for amateur theatre al every stage.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Voluntee
The As50cialion relies on ils volunteers to deliver ils objectives al regional level. There are 196 volunteers in total,
including members Df council, regional representatives (elected by members in their dislficII, regional officers
Isecrelaries, treasurers membership se¢relaries and youth coordinalorsl and c¢>OPted members of règional
committees SLJch as editors and awards secretaries.
Regional comrnittees across 11 regions are responsible for the provision of vi51ts by regional represenlalives an(1
other volunteers lo affiliated societies and regional confeiences, as well as being responsible lor ¢onlribuling lo
mag?zines and newsletters, workshops and advising members, in line with the objects of the charity.
Head Office Staff
The team al Head Office are led by Chief Operating Offi￿r. Dale Freeman. We are oreatly indebted to all
members of staff for their dedication and support. NODA contributes to personal defined contribution pension
schemes The salaries of Head Office staff are set following appraisals and consideration of locally
benchmarked salarie5.
Achlevements and perfomian¢e
The overriding strategy for the period was for the Association lo be proactive in contacting members lo offer
and provide Increased direct support. as well as continuing to explore opportunities for joint working.
Metnbership
As ol December 2023. the number ol society members was 1,945. compared with 1,992 as of 31 December 2022.
Indiviclual and corporate membership was 586 with 690 as of 31 December 2022.
NODA continues its strategy of exploring the potential and Improved services lo members.
Membership Services
Membership benefits include.
Personal represenlalion. including regional support through NODA local committees.
Exclusive NODA factsheels offering a wealth of information and guidance.
NODA Tocjay magazine published 3 times a year.
Pantomime scripts via a dèdicatèd wèbsite.
DBS ¢he¢king and application service.
NODA Insuiance Ilhrough Lloyd & Whytel.
NODA Safe Iheallh & safely support and advice).
Legal advice provided by Counterculture LLP.
NODA Theatre Summer SGhool, which is a residential course supported by professional lulors,
delivering a wde-range of amateur theatre skills and aclivilies.
Corporate partner product and 5etvices benefits for members.
Long service awards. meclals and badges.
NODA awards are available to all NODA IndividLJal members and affiliated societies to present to their own
members to recognise their contribution to amateur Ihealre.
During 2023, 1.452 awards were made11,624 during 20221, including youth award5 and certificates in the year
Annual regional Posler and Programme Competitions are held, with winning entries going forward to the national
competition. National awards for the 2022 winners were presonled on Saturday 16th September 2023 at the
National AGM In Preston.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT (CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2023
National Conference
The seventh National ConferÈncè and AGM lor the NODA CIO took place on 16 September 2023 In Preston.
Regional Conference5 and Event5
All regions held their own conference andlor AGM physically during 2023
NODA Theatr& Summer School
This look place in August 2023 al Yarnfield Training C8nlré. aitracting an attendance of 178 students.
Volunteer Training
Valuing our volunteers is of paramount importance, and designed lo ensure we relain the ability lo deliver
improvements in our service offer lo NODA members. This Is achieved via regional forums, addressing specific
training needs at a local level, including specialist areas such as finance. marketing. membership ￿Velopment and
website tuition A comprehensive published Volunteers Handbook is subject to regular updates.
Publishlng
Magazines.. During 2023, 3 editions of NODA Today were published and circulated both onliné and by post.
Website.. The website continues lo offer eccess lo a range of information and services. including the opportunity for
members to publicise their productions in the 'Whal's On, section as well as online access lo pantomimes. The
website had 223.260 visits In the 12 months to 31 December 2023 compared with 189,389 in the 12 monlh5 10 31
December 2022 This was an increase of 17 90/0 reflecting the increase in show reports and general NODA activity
during this period as things were recovering after the pandemic.
Fundraising is undertaken by the charity and monitored by the Iruslees. there are no external fundraisers. The CIO
has however enjoyed the support DI the Benefact Group with a donation lo support a youth development
programme.
NODA Limited
NODA Limited is the trading arm of the NODA. All profits generated by Ils activity were donated by Gift Aid to
the CIO, to support its operation and its service to members. Profil of £51.468 12022 - £43,416) for the year lor
the year ènded 31 December 2023 from NODA Limited has been Gift Aided lo the CIO
NODA Insurance continues to provide cover for amateur theatre groups and provides commission
income to NODA Ltd for the benefit of all members.
NODA Limited continues lo act as the authors. agent for a very suecessful cal810gue of pantomime
scripts. from a variety of authors.
NODA Limited continues lo provide a range of long service awards, badges, eommendalion awards
and youth awards lor members of affiliated societies and individual members. The r8nge ol long
Service badges covers service from 5 years through to 70 years. setvice.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Public Benefit
Amateur Theatre attracts on stage opportunities and a potential lor many others to be engaged behind the
scenes, including In stage management, marketing. and adminislralion. NODA are able as51sI in this
involvement for the many Ihous8nds of people who attend various productions as members of audiences.
NODA Is also heavily involved in arranging DBS checks for Its mernbers and Interacts in negotiations with
outside organisalions.
The Trustees refer lo the Charity Commission'5 general guidance on Public Benefit when reviewing the aims
and objectives of the Charity and in planning ils future activities.
NODA Youth
Our youth development programme continues to follow a strategy designed lo encourage more young people
to gèt involved with amateur theatre on a voluntary basis This initiative provides young people with many
opportunities lo devclop their inter-personal and other transferable skills
Financial revièw
The Association believes It prudent. in order lo provide reliable sèNices over the longer term. lo hold ￿SerVeS lo
absorb possible setbacks and to take advantage of changè and opportunity. Reserves are required lo..
Meet the running costs of the Association for a reasonable period, should any of its customary
sources of income fall shori ol expectations or cease entirely.
Absorb any shortfall in income resulting from a decline in the number ol members
Support any NODA region that requires a(Idilional funding lo cope with unforeseen financial difficulties.
Explore new opportunitiès for income generation which might require Initial capital investment.
Reserves should ideally be equivalent to al least one year's expenditure of the As50cialion Iparentl. 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 reserves al the year-end for the group totalled £929,848 12022- £928.1351 comprising of unrestricted
funds lolalling £928,65912022- £923,328) and restricted funds totalling £98712022 £4,807).
Investment Policy
The investment policy ol the associatlon Is that funds in excess of current requirements shall be invested,
having due regard lo the level ol those funds and to the foreseeable requirements of the association as sel out
in the rèserves poli¢y. Investments are ID be made, with security and safety being the main ciileria, Trustees
have a low appelile for risk. A reasonable market return Is the secondary objective.
Investment income received in the year amounted to £25,367 12022 £19,748) An unrealised gain on
revaluation of investments of £6.94812022 a loss of £58.4611 is incorporated into the results.
The investrnenls of the association are held in charitable units compri51ng holdings with a wide geographical
spread over a variety of sectois The fair value of the units had Increased by 20/0 in the year The p051tion is
much affe¢led by the econornic uncertainties currently with which we are being faced and the Inslabilily this is
having on investment markets.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Risk Statement
A Risk Register Is mainl8ined which describes the risks lo which the Charity might be exposed and is reviewed by
Trustees with procedures pul in place lo manage these iisks.
The Management Committee on behalf of the trustees conducts a monthly review of the orgafjisalion's Risk
Register Including the principal risk reg151er These are subject lo further review by all Trustees on a regular
basis
Regional Treasurers report their Region's Income and Expenditure monthly to ensure compliance with the
Association's risk strategy
The principal risks and un¢ertainlies of the charity relate lo the recruitment and retention of members. These are
included in the priority risk register and monitore<J ¢108ely.
Compliance
All Trustees continue lo receive trainin9 In govèrnance and financial planning, to ensure an Ljnderstanding of, and
compliance with, the role5 and iespon5ibililies of charity Iruslees. as well as improving NODA'S communications
with member5
Plans for future periods
As we celebrate our 125th anniversary. the final phase ol an original 5-year rolling plan has been superseded
by a major project that has been developed over the last 18 months. This will Improve the service offered lo our
existing members and provide an ideal platform fiom which to launch a more focu5sed membership drive.
During the coming 12 months and beyond, increased Inveslwenl In resource5 and technology will create an
exciting, vibrant, visible, rebrand Including a fully Integrated Interactive website that Is both relevant and highly
inlormalive. Thèsè elements will provide greater value and easier access lor current NODA members, and are
designed to attract new members Details of the rebrand and new website will be launehed al the AGM
weekend.
The adverse Impact ol COVID diminished significantly during 2023, as amateur theatre across the UK and our
trading position retLJrned to normal and Is showing strong signs of returning lo pre-pandemic levels.
structure. governance and management
The Charity was consliluled as a Charitable Incorporated Organisalion ICIOI Registered on 20 January 2017
Bs amended on 20 Junè 2017 and 13 October 2019. Decisions relating to the strategic direction of the Charity,
the correct operation of ils ¢onslitution by regional committees, staff salaries and other major financial
commitments are the responsibility of the Council of Trustees Cornmittees are elected by. and aocountable lo
the Trustees The Management Committee and the Summer School Commitlee, with further subcommittees
andlor working groups including the National Weekend steering group and other SU￿groupS convened for
specific project5 andlor lime limited reviewslaclivilies. Decisions relating lo the day-to-day operation of the
Association's Héad Office and delivery of services are delegated to the Chairman of Trustees.
NODA is committed to training and development opportunities. Formal inductions for new Trustees are carried
out by the Chairman of Trustees in advance of each one assuming office. This details the duties and
responsibilities of serving as a Trustee and a member of Council. Those newly appoinied are provided with an
Induction pack containing a copy ol the Association's Constitution & By&Laws, the Annual Report and
Accounts. recent minutes ol Council meetings, supporting Iileralure provided by the Charity Commission and
other relevant material.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Appolntment of the Council of Trustees
Eleven Regional Councillors are subject to annu21 election by members in the relèvant region and are formally
elected and confirmed in their role at the Annual General Meeting of the CIO.
The President and Vice-Presidenl are elected by the Council of Trustees from current 01 past Council members.
The Chairman ol Trustees Is elected by the Council of Trustees Irom current or past Council Members, initially
foi a two-year letm of office. An outgoing Chairman may seek re.election lor a term ol one year but not for a
period longer than six years consecutively. A Vice-chairman is eleGled by the Council of Trustees on a similar
basis lo the Ghairman except that the appointment is SLJbject lo annual election.
The ￿UnCIl nominates up to two people as life member representatives, and these are elected at the annual
general meeting.
The Immediate Pa$1-P￿Sident Is an ex.officio member of Council.
The Chairman of NODA Theatre Summer School is appointed annually from the body of trustees to serve as a ¢ts-
opted mernber Df council.
The Council has the power lo co-opt up lo Nvo additional Trustees.
The Trustees have no beneficial interest in the Chaiity.
ICT Strategy
The web5I1e has seen further improvements to the home pages The alkimportant volunteers pagè continues lo be
updated and a pantomime oriented web page is attracting increasing expressions of interest
Audltor
In accordance with the company's articles, a resolutlDn proposing that Azels Audit Services be reappointed as
audiloi ol the company will be put al a General Meeting.
The trustees, report was approved by the Board ol Trustees.
Mr lan G Cox
Chalmian of Trustees
Date".

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 310ECEMBER 2023
The Iruslees are responsible for preparing the Trustees, Report and the finJn¢ial slatemènls in a¢¢ordanTr with
applicable law and United Kingdom Accounting Standards IUnile(J Kingdom Generally Accepted Accounting
Practice).
The law applicable to chaiilies in England and Wales iequires the trustees lo prepare financial 51alemenls for each
financial year which give a true and fair view of the Stale of affair5 of the CIO and of the incoming resources and
application of resources of the CIO lor that year.
In preparing these financial slalemenls the IrLJslees are required lo.
select suitable accounting policies and then apply them consistently..
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent",
slate whether applicable accounting standards have been followed, subject to any material departure5 disclosed
and explained in the financial slatemenls". and
prepare the financial statements on the going concern basis unless il Is inappiopriale lo presume that the charity
will continue in operation.
The tiustee5 are responsible for keeping sufficient accounting records that disc105e with reasonable accuracy at any
lime the financial position of the CIO and enable them to ensure that the financial slalemenls corllply with the
Charities Act 2011, the Charity (Accounts and Reportsl Regulation5 2008 and the provisions ol the trust deed. They
are also responsible lor safeguarding the assets of the CIO and hence for taking reasonable steps for the
prèvèntion and detection ol fraud and other Irregularities.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
Oplnlon
Vve have audited the financial slalemenls ol National Operatic and Dramatic Association Ilhe parent 'CIO'I and ils
subsidiary Ilhe 'Group'l for the year ended 31 December 2023 which comprise the Group statement ol financial
aclivilies, the Group and Parent CIO balance sheets. the Group statement of cash fiows and notes to the financial
statements. Including significant accounting policie5. The financial reporting framework that has b&n applied in
their preparation Is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Financial Reporting Standard spplic8ble iii the UK and Republfc of Ireland (United Kingdom
Generally Accepted Accounting Praclicel.
In our opinion, the financial slalemenls.
give a true and fair view of the stale of the Group and Parent CIO affairs as al 31 December 2023 and of its
incoming resources 2nd application of resources. for the year Ihen ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Acceptèd Accounting Practi￿,.
and
have been prepa￿￿ in accordance with the requirements of the Charities Act 2011.
8asls for opinion
We conducted our audit in accordance wlh International S18ndards on Auditing IUKI IISAS IUKII and applicable
law. Our ￿sPOnSibl1111&S under those standards are further described in the Audilorfs responsibilili&s lor the audit ol
the finantrial slalefflenls section of our report We are independent of the Group and Parent CIO in accordan￿ with
the ethical requirements that are relevant to our audit ol the financial slalements In the UK, including the FRC'S
Ethi¢21 Standard. and we have fulfilled our olher elhi¢al responsibilities in sccordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appiopriate lo provide a basis for our opinion.
Con¢lusion5 relatlng to going concern
In auditing the financial statements, we have concluded th81 the Iru5tees' use of thè going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on thè work we have performed, we have not identified any material uncertainties relating lo events or
conditions that. individually or collectively, may cast significant doubl on the CIO'S ability lo continue as a going
concern for a period of al least twelve months from when the financial statements are aLJthorised lor Issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant seGlion5 of this report
Other Infomiatlon
The other information comprises the Information Included in the annual report other than the fina￿181 slalemenls
and our auditor's report thereon. The Iruslees are responsible for the olher information contained within the annual
report. Our opinion on the financial stslemenls does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is lo read the other information and. in doing so, consider
whether the other infomiation is materially inconsislenl with the financial slalemenls or our knowledge obtained in
the course of the audit, or otherwise appears lo be maleiially misstated. If we identify su¢h malenal Inconsistencies
or apparent material misstalements. we are required lo determine whether this gives rise lo 8 material misstatement
in the financial statements themselves If. based on the work we have performed, we conclude that there is a
material mi5Statemenl of this Dlher Information. we 8re required to report that fact.
We have nothing to report in this regard.
Matters on which we are ￿qU1rÈd to report by exception
We have nothing lo report In respect ol the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if, In our opir)ion'.
the inlorrnalion given in the financial 5talemenls Is Inconsislenl in any material respect with the Iruslees.
report, 01
sufficient accounting record5 have not been kepl, or
the financial statemènts arè not in agreement with the accounting records". or
we have not received all the information and explanations we require for our audit.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
Responslbilities of trustees
As explained more fully In the statement of trustees, responsibilities, the Iruslees are responsible for the preparation
ol the financial slalements and lor being satisfied that they give a true and lair view. and for such Internal control as
the Iruslees determine Is necessary to enable the preparation of financial 5talements that are free from material
misstalemenl, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for
assessing the Group and Parent CIO'S ability lo continue as a going concern, disclosing. as applicable, matters
related lo going concern and using the going concern basis of accounting unless the Iruslees either Intend lo cease
operations. or have no realistic alternative bul to do so
Auditor's responsibilities for the audit of Ihe financial statements
We have been appointed as auLlitor under section 144 01 the Charitiès Act 2011 and report in ac¢ordan¢e with the
Act and relevant regulations made or having effect Ihereundei.
A further description ol our responsibilitie5 is available on thé Financial Reporting Council's website at. https.11
www.frc.org.uklaudilor5responsibilities. This desciiplion foTm5 Part of our auditor's report.
Extent to which the audit was considered capable of Iletecting irregularitie5, including fraud
Irregularities. including fraud, are instances of non-compliance with laws and regulation5. We design procedures In
line with our responsibilities, outlined above and on the Financi81 Reporting Council's website. lo detect material
misslalements in respect of irregLJlarities. Induding fraud.
We obtain and update our understanding of the entity its activities, its control environment, and likely future
developments, including in relation to the legal and regulatory framewoik applicable and how the enlily is complying
with that framework Based on this understanding, we Identify and assess the risks ol material misslatemenl of the
financial statements. whether due to fraud or error, design and perform audit procedures responsive lo those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes
Gonsideralion of the risk of acts by the enlily Ihal were contrary to applicable laws and iegulalions, Including fraud.
In response lo the risk ol irregularities and non-¢omplian¢e with laws and regulations, including fraud. we designed
procedures which included.
Enqviry of management and those charged with governance around actual and potential Iitigalion and
claims as well as actual, suspe¢ted and 211eged fraud..
ReviEwins rninutc¥ vf mcctingJ Trf IhDJc with sovernanEe',
Assessing the exlenl ol compliance with the laws and regulalions considered to have a direct material
effect on the financial slalemenls or the operations ol the entity through enquiry anLI Inspection.,
Reviewing financial statèmént disclosures and testing to supporting documentation lo assess compliance
with applicable laws and regulation5",
Performing audit work over the risk of management bias and override of controls, Including tesling ol
journal entries and other adjuslmenls for appropriateness, evaluating the business rationale of Significant
Ir8nsaclions outside the normal course of business and reviewing accounting estimate5 for Indicators of
potential bias
Because of the inherent limilalions ol an audit. there is a risk that we will not delect all Irregularities. Including those
leading to a material misstatement in the financial slatements or non-compliance with iegulalion This r15k
Increases the mole that compliance with a law or regLJlalion Is removed from the events and transactions reflected
in the financial slatemenls, as we will be less likely to become awaie of Instances ol noTrcompliance. The risk ol
not delecling a material misstatement resulting from fraud is highei than foi one resulting from Érror, as fiaud may
involve collusion. forgery. intentional omissions, misrepresentations, or the override of inleinal control

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
Other matters
Your attention is drawn to the fact that the Group and Parènt CIO has prepared financial stalernenls in accordance
with "Accounting and Reporting by Charities Slalement of Recommended Practice applicable lo charities preparing
their accounls in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland
IFRS 1021 las amended) in preference to the Accounting and Reporting by Gharities. Slalement ol Re(xJrnmended
Practi￿ Issued on 1 April 2005 which is referred lo in the e*canl regulations bul has now been withdrawn
This has been done in order for the financial statements to provide a true and lair view in accordance wlh Current
Generally Accepted Accounting Practice.
Use ofour report
This report Is made solely to the ¢harily's Iruslees, as a body, In accordance with part 4 of the Charities IAccounts
and Reportsl Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees
those matters we are required to state to them in an auuitors. report an(J for no other purpose To the fullest extent
permitted by law, we do not accept Of assume responsibility lo anyone other than the charity and the charity's
trustees as a body, lor our 8uéil work. for this report, or for the opinions we have formed.
Tracey Richardson Bsc IHonsl FCA (Senior Statutory Auditorl
for and on behalf of Azets Audit Seryiees
Chartered Accountsnts
Statutory Audltor
Westpoint
Lynch Wood
Peterborough
Cambridgeshirè
United Kingdom
PE2 6FZ
Azels Audit Services is eligible for appointment as auditor of the CIO by virtue DI its eligibility for appointment as
auditor of a company under section 1212 of the Companies Act 2006.
10

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Current financial year
Unrèstricted Restricte
funds
funds
2023
2023
Total
Total
2023
2022
Notes
Donations and lègacies
Charitable activities
Other trading activities
Investments
Other Income
6.652
551.209
179,937
32,519
8,688
6,652
551,209
179,937
32,519
8.688
3,056
376,155
168.102
21,111
5,201
Total Income
779.OQ5
779.005
573,625
Rai51ng funds
124.528
124.528
120,686
Charitable activities
656,094
3,820
659,914
539.562
Total expendlture
780,622
3,820
784.442
660,248
Nel gainslllossesl on investments
6,948
6,948
158.4611
Net Incomellexpenditurel for the yearl
Net movement in funds
5,331
13.8201
1.511
1145,0841
Fund balances at 1 January 2023
923,328
4,807
928.135
1,073,219
Fund balances at 31 December 2023
928.659
987
929,646
928 135
The slalemenl ol financial activitiès includès all gains and losses recognised in the year.
All income and expenditure cjerive from continuing activities
11

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Prlor flnanclal year
Unrestricted Restricted
funds
funds
2022
2022
Total
2022
Notes
Income and endowments from..
Donations and legacies
Charitable activities
Other trading aclivilies
Investments
Other income
3.056
376.155
168,102
21,111
5,201
3,056
376,155
168.102
5,201
Total Income
573,625
573.625
Ex
enditure on-
Raising funds
12Q.686
120.686
Charitable activities
538.892
670
539,562
Total expendlture
659,578
670
660,248
Nel gainslllossesl on investrnents
16
158,4811
158,4611
Net InGomellexpendilurel for the yearl
Net movement in funds
1144.4141
16701
1145,0841
Fund balanTrs al 1 January 2022
1,067,742
5,477
1,073,219
Fund balances at 31 December 2022
923,328
4.807
928,135
12-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
BALANCE SHEETS
ASAT31 DECEMBER 2023
Group
2023
Group
2022
cio
2023
10
2022
Notes
Fixed assets
Intangible assets
Tangible assets
Investments
12,000
120,224
630.747
16,000
128,624
618.541
12,000
120,224
630,847
16,000
128.624
618.641
19
20
762.971
763.165
763,071
763,265
Current assets
Stocks
Debtors
Cash al bank and In hand
21
22
12.453
148.052
301.287
15.321
123.418
258.930
135,729
278.029
109.980
236,209
461,792
397,669
413,758
346,189
CrediloTS'. amounts falling due within
one year
23
1295,1171
1232,6991
1269,4981
1203.6341
Nel current assets
186,675
184,970
144.260
142,555
Total assets less current Ilabllitles
929,646
928,135
907.331
905,820
Income funds
Reslricled funds
Unreslricled funds
Oesignaled funds
General unreslricled funds
25
987
4,807
987
4,807
26
26
143,910
784,749
152,310
771,018
143.910
762.434
152,310
748.703
929.646
928,135
907,331
905,820
As permitted by section 408 of the Companies Act 2006. the charitable company ha5 not presented Its own
statement of financial activities and related notes. The charitable company's surplus lor the year was £1,511 12022
deficit for the year of £145,084).
The financial slatements were approved by the board of directors and aLJthorised for issue on
are signed on Ils behalf by..
and
Mr larrGCox
Chairman of Trustèès
13-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Cash flows from operating activities
Cash generated fromllabsorbed by)
operations
31
17.022
153,5361
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Proceeds from olisposal of investments
Investment Income received
11,9261
17,3601
16.0971
15,2581
32,519
21,111
Net cash generated from Investing
activitiès
25.335
7.654
Net cash used In financlng actlvltles
Net increaselldecreasel in cash and Gash
equivalènts
42,357
145.8821
Cash and cash equivalents al beginning of year
258,930
304.812
Cash and cash equlvalents at end of yèar
301,287
258.930
14

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng polici8S
Charity information
National Operatic and Dramatic Association is a Charitable Incorporated Organisalion I'CIO'I and is registered
with the Charity Gommission Icharily Registration Number 11712161 In England and Wales
In the event ol the CIO being wound up, the liability ol the guarantee is limited lo £1 per Member of the CIO.
The address of thè registered office Is given in the Legal and Administrative Information page ol these
financial statements. The nature ol the Group's operations anLI principal activities are detailed in the Trustees
Report.
1.1 Accounting convention
The financial siatemenls have been prepared in accordance with the CIO'S governing document, the
Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable In the UK and Republic ol
Irelarnd" I'FRS 102.1 and the Charities SORP "Accounting 2nd Reporting by Charities. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The
CIO Is a Public Benefit Enlily as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only lo
the extent required to provide a true and lair view. This departure has Involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement ol
Recommended Practice which Is referred to in the Regulations but which has since been withdrawn.
The financial slatements are prepared in sterling, which is the functional currency of the CIO. Monetary
amounts In these financial statements are rounded lo the néarèst £.
The financial statements have been prepared under the historical cost convention. The principal aecounting
policies adopted are sel out below.
The consolidated statement of financial activities ancl consolidated balance sheet consolidate the financial
statements ol the CIO and its subsidiary undertaking. The results ol the subsidiary are consolidated on a line
by line bas1S.
1.2 Going concern
The financial slaletllent5 have been prepared on a going concern basis. The Trustees have considered
relevant Information Including annual budgets, foréc351 future cash flows and the impact of subseqLJent events
in making their 355e55menl.
Based on these assessments and having regard lo resources available to the entity the Trustees have
concluded that they can continue lo adopt the going concern basis in prepaiing the annual report and
accounts.
1.3 CharSlable funds
Unrestricted funds are available foi use 8t the discretion ol Ihe trustees in furtherance ol their charitable
obieclives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific
purposes. The purposes 8nd uses of the designated funds are set oul in the notes to the financial statements.
Restricted funds are subject lo specific conditions by donors as to how they may be used. The purposes and
uses of the restricted funLYs are sel out In the notes lo the financial statements

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Iconllnuedl
1.4 Income
In¢ome is recognised when the CIO is legally entitled lo it after any performance conditions have been mel.
the amounts can be measured reliably, and It Is probable that in¢ome will be re¢eive¢J.
Voluntary income is received by way of (*onalions and gifts. IncluLYing related gift aid, and is included In full in
the consolidated statement of financial activities when receivable. Volunteer time is not Included In the
financial stalemenls.
Interest on funds held on deposit and distributions on inve51menls are Included when received by the Gioup.
Distributions from shares in groLJP undertakings 8re included when receivable by the CIO.
Legacies are recognised on receipt or othe￿ise if the CIO has been notified of an impending dislribulion, the
amount is known, and receipt Is expected.
Subscriptions were payable by members on a yearly basis lo 31 March Renewals received in advan￿ for the
next subscription period are included in deferred income. R&laled 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
in¢otne. Amoun15 received In advance ol events are recognised in deferred income.
Royalties are in respect of pantomimes and are recognised in the accounts with reference to the dale when
the Group is enlilled lo the income.
Other income Is recognised in the period in which it is ￿CeiVable lo the extent the goods havè beèn
provided or on completion of the service.
1.5 Expgndlture
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probablè that a Iransler of econornic benefits will be required in settlement and the amount ol
the obligation can be measured reliably. Expenditure 15 classified by activity The tosts of each aolivily are
made up of the lotal of direct costs and shared costs. including support costs involved in undertaking each
activity
Direct costs attributable to a single activity are allocated directly lo that activity. However. the cost of overall
direction and administration of each a¢livily, comprising the salary and overhead costs of the cent￿1 function,
is apportioned on the following basis. These are an estimate, based on staff time, of amount attributable lo
each activity.
Membership
National conference l AGM
Regional events
Summer School
Publishing
2023.. 64.40/0
2023.. 2 90/0
2023". 0.50/0
2023. 11.50/0
2023" 20 7Q/o
2022 64.4Y¢
2022. 2.9D/o
2022. 0.50/.
2022. 11.50
2022 20.7°/0
16-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policiès
(Continued)
Support costs are those functions that assist the work ol the Group but do not directly undertake charitable
aclivilies. Such costs are reallocated lo each of the activities on a staff time basis.
Governance costs are those Incuired in connection with administration of the Group and compliancé with
¢onstilulion41 and slatulory requirements.
Expenditure Dn 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'5
objectives. as well as any asso¢ialed support cosls.
All expenditure is inclusive ol irrecoverable VAT.
1.6 Intangible fixed assets other than goodwill
Intangible assets costing £1.000 or more are capilalised and recognised when future economic benefits are
probable and the ¢osl or value of the asset can be measured reliably.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured
al cost less ac¢umLJlated amortisation and accumulated impairment losses.
Amortisalion is recognised so as to write off the cost or valuation of asse15 less their iesidual values over their
usefu1 lives on ine following oases..
Pantomime script nghts
1 OQ/o Straight line
1.7 Tangible fixed assets
Tangible fixed assets coBting £1.000 or more are capitalised and rectsgnised when future economic bènelits
are probable and the cosl or valLJe of the asset can be measured ieliably unless their economic life Is
estimated at 12 months or less and are Ihen expensed in the consolidated slaletnenl of financial activities
Tangible fixed assets are initially measured al cost anLI subsequently measured al cost or valuation. nel ol
depreciation and any impairment losses.
Depreciation is recognised so as to write off the c051 or valuation of as5els less their residual values over their
useful lives on the following bases.
Freehold property
Leasehold Improvements
Fixtures and fittings
Computers
20/0 slraighl line
20Q/ll Straight line
25,10 slraighl line
200/0 and 33010 slraighl line
Freeholcs land is noi depreclale
The gain or Ios5 arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and Is recogni5ed In the statement ol financial a¢livilies
1.8 Flxed asset investrnents
Fixed asset Inveslmenls are initially measured at transaction price excluding transaction cos15, and are
subsequently measured at fair value at each reporting date. Changes In fair value are recognised In nel
incomellexpendilurel for the year. Transaction cost5 are expensed as Incurred.
Invesltllenls in subsidiaries are valued at cost less prov15ion for impairment.
17-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢counllng polScles
(Continued)
1.9 Impalrment of fixed a55ets
Al each reporting end dale, the CIO reviews the carrying amounls of its tangible and intangible assets to
determinè whèthèr thèrè ig any Indication that those 3sset5 have suffered an Impairment loss. 11 any SUGh
indication exists. the recoverable amount ol the asset is eslimaled in order to determine the e*cenl of the
impairment 1055 (if any)
1.10 Stocks
Stocks are stated al the lower of Cost and estimated Selling price less costs lo complete and sell. Cost
comprises direct mateiials and, where applicable. direct labour ¢0g1s and those overheads that have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no or
nominal consideration are measured the lower ol replacement Cost and cost.
Net realisable value is the estimated selling price less all &slimaled costs of completion and costs to be
incurred in marketing, selling and distribution.
1.11 Cash and cash èquivalènts
Cash and cash equiv21enls Include cash in hand. deposits held at call with banks, other short-lerm liquid
investments with original maturities of three months or less, and bank overdrafts Bank overdrBfts are shown
within borrowings in Current liabilities.
1.12 Flnanclal Instruments
The CIO has elecled to apply the provisions of Section 11 'Basic FinanGial In5tiuments' and Section 12 '0ther
Financial Instruments Issues. ol FRS 102 to all ol its financial instruments
Financial instrLJments are recognised in the CIO'S balan￿ sheet when the CIO becomes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amoLJnts and there is an intention lo settle on a net
basis or lo realise the asset and settle the liability simulianeously.
Basic financlal assets
Basic financial assèts, which in¢lude dèbtors and cash and bank balances, are Initially measLJred at
transaction price in¢luding Iran5aclion c051s and are subsequently carried at amortised cost using the effective
interest method Ljnless the arrangement conslilules a financing transaction, where the transa¢tion 15
measured al the present value of the future receipts discounted al a m8rkel rate of interest Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basi¢ finan¢ial liabilities, Including creditors and bank108ns are initially recognised at transaction price unless
the arrangement conslilutes a financing transaction. where the debt instrument Is measured at the present
value of the future payments discounted at a market ratè of inleiesl Fin8nc181 liabilities classified as payable
within one year are not amortised
Debt instruments are subsequently carried at amortised cost, using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ol
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. 11 not, they are presented as non-curienl liabilities Trade creditors are recognised initially al
transaction price and subsequenlly measured at amortised cost using the effective Interest method.
Derecognition of financial liabiltilies
Financial liabilities are derecognised when the CIO'S contractual obligations e￿Ire or are discharged Dr
cancelled.
18-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Icontinuedl
1.13 Taxation
The Group is exetnpt Iiom corporation lax as all of ils income is charitable and is applied for charitable
purposes. The Group'5 trading subsidiary, NODA Limitéd. gift aids all taxable profits lo the CIO by means ol a
dislribulion.
1.14 Employee benefits
The cost of any unused holiday entillemenl is recognised In the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the CIO Is demonstrably committed ID
lerminale the employment of an employee or to provide termination benefits.
The Group operates a defined pension conliibulion plan for ils employees. A defined ¢onlribulion plan is a
pension plan under which the Group pay5 fixed ¢onlributions into a sèparaté èntity. Once thè contributions
have been paid the Group has no further payment obligations
The contributions are recognised as an expense in the statement of financial activities when they fall due.
Amounts not paid are shown In accruals as a liability in the Balance Sheet The assets of the plan are held
separately from the Group in independently administered funds
1.15 Leases
Rentals payable under operating leases, including any lease Incenlives received. are charged as an expense
on a slraighl line basis over the term of the relevant lease
Critical accounting estimates and judgernents
In the application Df the CIO'S accounting policies, the Iruslees are required lo make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant Actual results may differ from these estimates.
The estimates and Ljnderlying assumptions are reviewed on an ongoing basis. Revisions lo accounting
eslimales are recognised in the period In which the estimate Is revised where the revision affects only that
period, or in the period of the revision and future periods wherè the revision affects both eurrenl and future
periods
The estimate5 8n(l assumplic>ns that have a significant risk of causing a material adjustment to the carrying
amounts of assets and Iiabililies within the next financial year are noted below.
Easis of valuation of fjxed assets- intangibles
Expected Ille of freehold propérty
Support cost allocation.
Donation5 and legacies
Unrestricted Unre5triGted
funds
funds
2023
2022
Donations and gifts
6.652
3.056
19-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitablè activities
Unrestricted Unre$tri¢ted
fund$
funds
2023
2022
Membership
National Conference
Regional events
Summèr school
235.669
8.891
183,135
123,514
168,721
17.230
74,926
115278
551,209
376,155
other trading actlvltles
Unrestrlcted UnrgstrS¢led
funds
funds
2023
2022
Trading subsidiary
179,937
168,102
Investm8nts
Unre$trlcted Unrestricted
funds
funds
2023
2022
M&G Investments and Charities Property Fund
Interest receivable
25,367
7,152
19.748
1.363
32,519
21.111
-20-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Other income
Unre5tTlCted Unrestrictèd
funds
fund5
2023
2022
Other income
Email newslellei advertising income
5.505
3,183
3.851
1.350
8,688
5201
Raising funds
Unrestricted Unrg$tri¢ted
funds
funds
2023
2022
Tra
Trading subsidiary
124,528
120,686
124.528
120,686
21

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NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
11
Audltorfs remuneratlon
Fees payable to the CIO'S audltor and associate$'.
2023
2022
Audit of the CIO'5 annual accounts
6,750
6.500
Other servlces to the group
Audit of the CIO'S subsidiaries
3,150
3,000
Total audlt fees
9.900
9,500
12 Surplus for tho flnanclal ygar
As permitted by section 408 of the Companies Act 2006, the holding company's SLJrplus has not been
Included In these financial slalemenls. The surplus for the financial year is made up as follows.
2023
2022
Holding Company's gross income for the financial year
654,477
452,939
Holding company's surpluslldeficitl for the financial year
1.511
1145,0841
25-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Cornmercial operatlons In tradlng subsidiary
The wholly owned trading subsidiary. NODA Limited, which is incorporated in England and Wales, pays all of
ils profits lo the CIO under the gift aid scheme as a dislribulion. NODA Limited undertakes the trading
activities of Ils charitable parent, National Operatic snd Dramatic Association. The CIO owns the entire Issued
share capital 01100 ordinary shares at £1 each. A summary of the trading results is shown below
2023
2022
NODA Llmlted Proflt & Loss Account
Turnover
Cost of sales
Administration costs
Interest received
179,937
122,7251
1101,8031
59
168,102
126,5591
104,1271
Nel profit
Less" royalties paid to charity
55,468
14,0001
47.416
14.0001
51,468
151,4681
43.416
143.4161
Dividend paid lo charity
Tax on Ioss Dn ordinary activities
Retained in the subsidiary
2022
2022
NODA Limlted Balance Sheel
Current assets
Current liabilities
71,755
149.3401
74,906
152,4911
Total nel assets
22.415
22,415
Aggregate sharè capital and rèserves
22,415
22,415
14 Trustees
Dunng the year travel expenses of £42,533 were reirnbursed or paid direGlly lo 17 Tiuslees12022- £41,265 to
16 Trusleesl.
None of the Trustees lor any persons connected with them) received any remuneration during the year12022
See notè 30 - rèlated party Iransaclions, for details of further transactions with Trustees.
-26-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Employees
The average monthly number of employees during the year was
2023
Number
2022
Numbèr
Trading INODA Limiledl
Membership
Support
Total
Employment costs
Group
2023
Group
2022
cio
2023
cio
2022
Wages and salaries
Social security Costs
Other pension costs
160.740
11.493
8,564
139,186
10,762
8,753
96.444
6.896
5,138
85,020
6,105
4,473
180,797
158,701
108.478
95,598
There were no employees whose annual remLJneraliDn was more than £60,000.
16 Net galnslllossesl on investments
Unrestricted Unrestrlcted
funds
funds
2023
2022
Gainlllossl on sale ol investments
6,948
158.4611
17 Taxation
The charity is exempt from lax on Income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 Its the exlenl that these are applied lo ils charitable objects.
27-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Intangible fixed assets
Group and CIO
Pantomime scrlpt rlghts
Cost
Al 1 January 2023 and 31 December 2023
40,000
Amortisation and impairment
Al 1 January 2023
Amortisalion Charged for the year
24.000
4.000
At 31 December 2023
28,000
Carrylng amount
At 31 December 2023
12,OflO
At 31 December 2022
16,000
19 Tangible fixed assets
Group and CIO
Fr8ehold land Fixtures and
nd building5
fitting5
Computers
Toial
Cost
Al 1 January 2023
Additions
135,498
1,491
5,220
51,801
435
192,519
1.926
At 31 December 2023
136.989
5.220
S2.236
194.445
Depreciation and impairment
At 1 January 2023
Depreciation charged in the year
22.979
3.990
3.783
360
37,133
5,976
63.895
10.326
At 31 December 2023
26,969
4,143
43,109
74.221
Carrylng amount
At 31 December 2023
110,020
1,077
9,127
120,224
Al 31 December 2022
109,401
1,437
14,668
128,624
-28-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
20 Fixed asset investments
Group
2023
Group
2022
cio
2023
cio
2022
Investments in subsidiaries
Listed investments
100
630,747
100
618,541
630.747
618,541
630,747
618,541
630,847
618.641
21 Stocks
Group
2023
Group
2022
cio
2023
cio
2022
Goods lor resale
12.453
15.321
22 Debtors
Group
2023
Group
2022
cio
2023
cio
2022
Amounts falllng due wlthln one year=
Trade debtors
Other debtors
Prepayments and accrued income
98,699
24,158
25.195
80,008
13,409
30,001
98,581
24,158
12.990
78,132
13,409
18.439
148,052
123.418
135.729
109.980
23 Creditors.. amount$ falllng due wlthln ona yèar
Group
2023
Group
2022
cio
2023
cio
2022
Other laxalion and social security
Oeferred Income
Trade creditors
Amounts owed to SLJbsidiary undertakings
Other creditors
Accruals
2,798
168,907
16,456
24
198,319
32,563
198.319
31,559
23,721
159,932
11,830
23,426
48,336
15,899
36,092
15.899
8,446
295,117
232,699
269.498
203.634
-29-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
24 Deferred income
Group
2023
Group
2022
cio
2023
cio
2022
Other deferred income
198.319
168.907
198,319
159.932
Deferred income is included in the financial slalemenls as follows..
Group
2023
Group
2022
cio
2023
cio
2022
Deferred Income is Included within.
Current liabilities
198,319
168,907
198,319
159,932
Movements in the year..
Defeired Income at 1 January 2023
Released from previous periods
Resources deferred in the year
168,907
1168,9071
198,319
159.664
1159,6641
168,907
168,907
1168,9071
198,319
159,664
1159,6641
159,932
Deferted income at 31 December 2023
198.319
168,907
198,319
159.932
Deferred income CL)mprises income received in advance relating lo..
Subscriptions
Regional conference income
Panlomine COTllmissions due
Summer school income
25 Restricted funds
Group an(J CIO
The income ftjnds of the charity include reslricled fund5 comprising the following unexpended balances of
donations and grants held on trust for specific purposes".
Balante at
1 January 2022
R￿auree$
Balance at
Èxpended1 January 2023
Resources
Balance at
oxpgnded 31 December
2023
Rene Deardèn Mèmorial Training Fund
Stephanie Sorgo-Hudson Benevolent
Fund
1,927
1,927
19601
967
3,550
16701
2.880
12,8601
20
5.477
16701
4,807
13,8201
987
Rene Dearden Memorial Training Fund- To finance further training In the NODA North region.
Stephanie Sorgo-Hudson Benevolent Fund - To assist SLJmmÈr school studènts in cases of financial hardship.
-30-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
26 Designated funds
Group and CIO
The income funds of the charily include the following designated funds which have been set aside out ol
unrestricted funds by the trustees for specific purposes"
Balance at
1 January 2022
RÈsources
expendèd
Transfers
Balance at
1 January 2023
Resources
exp?ndAd
Transfers
Balance at
31 December
2023
Kenneth
Barnes
Bursary Fund
John
Richards
Training Fund
Fixed Assels
Fund
1,026
1,026
1.026
22,660
22,660
22.660
130,490
19.2261
7,360
128.624
110.3261
1,926
120.224
154.176
19,2261
7.360
152,310
110,3261
1.926
143.910
The Kenneth Barnes Bursary Fund and the John Richards Training Fund were clesignaled by the Trustees.
These amounts have been invested in the listed investments portfolio. Income arising frorn the capital held in
Investments lor thesé funds is credited lo Ihe general fund.
The purpose of the Kenneth Barnes Bursary Fund is lo finance summer school buisaries.
The purpose of the John Richards Training Fund is to finance training In the dramatic arts
Fixed Assets Fund This represen15 the value ol general funds Invested in land and buildings and other fixed
assets and 15 therefore not readily available for othér purposes.
31

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NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
29 Operating lease commitments
Al the reporting end dale the CIO had oulslanding cornmilmenls for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
2023
2022
Vvithin one year
Between two and five years
In over five years
1.978
7,910
336
10.224
30 Related party transactions
Remuneration of key management personnel
The total amount of employee benefits (including employer's pension conlribulionsl received by key
management personnel is £61,740 12022 - £61.2231. The charity considers its key management personnel
comprises of the Trustees and the CEO
Transactlons wlth related partles
During the year a gift aided donation of £51,46812022 - £43.4161 was received from NODA Limited.
Included within creditors is £23,721 12022 £23,426) due to NODA Limited
During the year £nil12022 - £3.OOQI was paid to S McCue-Dick, a Trustee, for accountancy support work. No
amounts are outstanding al the year end.
31 Cash generated from operatlons
2023
2022
Surpluslldeficill lor the year
1145,0841
Adjuslmenls lor
Investment Incorne recognised In slalement ol financial activities
(Gainllloss on disposal of investmen15
Depreciation and impairment of tangible fixed a55els
132,5191
16,9481
14,326
58.461
13,228
Movements In working capital".
Decressèllincreasèl in stocks
Ilncreaselldecrease in debtors
Increase in creditors
Increase in deferred income
2.868
124 6341
33,006
29,412
18251
10,594
21.960
9,243
Cash generated fromllabsorbed byl operations
17,022
153,5361
35-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
32 Analysis of changes in net funds
The CIO had no éebl during the year.
33 Controlling party
The Trustees do not consider there Its be a single controlling paty.
36-