Charity reglstratlon number 1171216
NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
LEGALAND ADMINISTRATIVE INFORMATION
Patrons
The Lord Lloyd-webbef
Connie Fisher
Trustees and Reglonal Coun¢lllors
Graham Liverton. President from 28 September 2024, Vice President
from 16 September 2023 until 28 September 2024
Christine Hunter Hughes, President from 16 September 2023 until 28
September 2024
Nick Lawren￿, President until 16 September 2023
Christine Hunter Hughes, Vice President until 16 September 2023
Nick Lawrence, Immediate Past President from 16 September 2023
Gordon Richardson, Immediate Past President until 16 September 2023
lan G Cox. Chairman
Sluart McCue-Dick, Vice Chairman
John Bames, Life Member represenlative
Gordon Richardson. Life Member representative from 16 September
2023
Michael Hastilow, Life Member representative until 16 September 2023
Jacqueline Stedman, Chairman NODA Theatre Summer School
Tessa Davies, Regional Councillor, East
Jules Jones. Regional Councillor. Easl Midlands
Pamela Armstrong, Regional Councillor, London
Peter Oliver, Regional Councillor, North
Leslie Smith, Regional Councillor, North East
Andy McNicholas, Regional Councillor, North West
Stuart McCue-Dick, Regional Councillor, Scotland
Kay Rowan, Regional Councillor, South East
Matthew Heaton. Regional Councillor, South West
Sharon Davies, Regional Councillor, Wales and Ireland
Andy Brown, Regional Councillor, West Midlands
Charity number
1171216
Principal address
15 The Metro Centre
Woodston
Pelerborough
Cambridgeshire
United Kingdom
PE2 7UH
Audltor
Azets Audit Services
Westpoint
Lynch Wood
Peterborough
Cambridgeshire
United Kingdom
PE2 6FZ
Bankers
Unity Trust Bank
Four Brindley Place
Birmingham
B12HB

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Principal staff
Dale Freeman, Chief Operating Officer
Rob Wlliams, Marketing and Publishing
Michelle Callicolt, Finance Manager
Liam Nixon, Marketing & Membership Services Assistant
Heather Knapp, SecretarylAdministrator
NODA Limlted
NODA Ltd. a wholly owned subsidlary of the Association. Registered Number 00241572
Registered office - 15 The Metro Centre, Peterborough, PE2 7UH
Directors- lan G Cox. Dale Freeman (Appointed 1 October 2024), Eric Smart (Resigned 1 October 2024). Michael
Hastilow {Resigned 1 October 2024), Christine Hunter Hughes (Resigned 1 October 2024}, Pamela Amislrong
(Resigned 3 April 2025)

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
CONTENTS
Pag•
Trustees, report
Statement of trustees, ￿spOnsibl1111eS
Independent auditorfs report
8-10
Stslement of financial activities
Balance sheets
Statement of cash flows
14
Not8S to the financial ststements
15-36

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Board of Trustees present their report together with the audited financial statements of National Operatic and
DramaticAssociation CIO, the Charity. and the Group, for the year ended 31 December 2024.
Referen￿ and administrative infomiation set out on the previous pages form part of this report.
The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial statements and comply with the CIO'S governing document, the Charities Acl 2011 and "Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102)" (effective 1 January 2019).
Objectives and activities
The objects of the association are to advance educalion by promoting and improving the art of musr. theatre
and drama lo slimulate public appreciation of such arts, generally to cultivate the improvement of wblic taste in
such arts and for those purposes to do all or any of the following..
To organise and arrange schools and courses.
To provide a general advisory and advocacy servi￿.
To publish information about amateur theatre.
To hold conferences and meetings,. and
To do all such things as are incidental or conducive to the altainment of the above objects or any of them.
NODA aims
To give a shared voice to the amateur theatre sector.
To help amateur thealre groups and individuals achieve the highest standards of best practi￿ and
performance.
To provide leadership and advi￿ to enable the amateur theatre sector to tackle the challenges and
opportunities of the 21st century.
NODA Vision
Following the culmination of two years, work, in 2024. we have developed a new vision for NODA of the future. At
the heart of our new strategy is a challenge,. and il is one to embrace if we are lo ensure that NODA. in the future,
fulfils its potential and has the greatest impact going fowards. 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 musl make sure that we celebrate, support and champion all of arroteur theatre
and that, as well as providing the support and services our members need, we are al the centre of conversations
about amateur theatre and its many benefits. By supporting members, championing the sector and respfflding to
issues and opportunities on their behalf, we can continue lo inspire and to create opportunity for i ndividuals, groups
and Iheir communities.
Visible.. we are going lo take a leading role in promoting the unique benefits and positive impacts of this wonderfvl
pastime. as well as supporting our members to spread the word. Together, we will continue to inspire all the
audiences and stakeholders who can help our members. and NODA, to thrive.
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 of the highest qualily and effectiveness for them. as well as helping to create
opportunity,. so that we can help them to be the best they can be and lo thrive.
Whether il is lobbying government on current issues affecting our sector, or continuing to support members 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 2024
Volunteers
The Association relies on its volunteers to deliver its objectives at regional level. There are at any one time around
200 volunteers in total, induding members of council, regional representatives (elected by members in their dislrict),
regional officers (secretaries, treasurers, membership secretaries and youth coordinators) and co-opted members
of regional committees such as editors and awards secretaries.
Regional committees across 11 regions are responsible for the provision of visits by regional representatives and
other volunteers to affilialed societies and regional conferences. as well as being responsible for contributing to
magazines and newsletters, workshops and advising members. in line with the objects of the charity-
Head Office Staff
The team at Head Office are led by Chief Operaling Officer, Dale Freeman. We are greatly indebled to all
members of staff for their dedicalion 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 salaries.
Achievements and perfom)an¢e
The overriding strategy for the period was for the Association to be proactive in contacting members to offer
and provide increased direct support. as well as continuing to explore opportunities for joint working.
Membership
As of December 2024, the number of society members was 1,943, compared wilh 1.945 as of 31 December 2023
Individual and corporale membership was 597 with 586 as of 31 December 2023.
NODA continues tts strategy of exploring the potential and improved services to members.
Membership Services
Membership benefits incltJde-
Personal representation, including regional support through NODA local committees.
Exclusive NODA factsheets offering a wealth of information and guidan￿.
NODA Today magazine published 3 times a year.
Pantomime scripts via a dedicaled website.
DBS checking and application service.
NODA Insurance (through Lloyd & Whyte).
NODA Safe {heallh & safety support and advice).
Legal advice provided by Counterculture LLP.
NODA Theatre Summer School. which is a residential wurse supported by professional lutors.
delivering a wide-range of amateur theatre skills and activrties.
Corporate partner product and services benefits for members.
Long Se￿1￿ awards, medals and badges.
NODA awards are available to all NODA Individual members and affiliated socielies lo present to their own
members to recognise Iheir contribution to amateur thealre. During 2024, 1,309 awards were made (1 ,452 during
20231, including youth awards and certificates in the year. NODA Limited continues to acl as the authors, agent for
a very successful Catalogue of pantomime scripts, from a variety of authors.
NODA Continues to provide a range of long Servi￿ awards. badges. commendation awards and youth awards for
members of affiliated societies and individual members. The range of long Service badges covers service from 5
years through to 70 years, service. Annually, regional poster and programme Compettlions are held, with winning
entries going forward to the national competition.
National awards for the 2023 winners were presented on
Saturday 28th September 2024 at the National AGM.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
National Conference
The eighth National Conference and AGM for the NODA CIO took place on 28 September 2024 in Plymouth.
Regional ConforenGes and Events
All regions held their own conference andlor AGM physically during 2024.
NODA Theatre Summer School
This look place in August 2024 at Yamfield Training Centre, attracting an attendance of 178 students.
Volunteer Training
Valuing our volunteers is of paramount importance. and designed lo ensure we retain the ability lo deliver
improvements in our service offer to NODA members. This is achieved via regional forums, addressing specifi
training needs at a local level, including specialisl areas such as finance, marketing, membership tsvelopment and
website tuition. A Gomprehensive published Volunteers Handbook is subject to regular updates.
Publishing
Magazines.. During 2024. 3 editions of NODA Today were published and circulated bolh online and by post.
Website.. The website conlinues to offer access to a range of information and servI￿s, including the opportunity for
members lo publicise their productions in the 'What's On, section as well as online access to panlomimes. The
website had 306,000 visits in the 12 months to 31 December 2024 compared with 223.260 in the 12 months lo 31
December 2023. This was an increase of 37°/o reflecting the increase in general NODA activily including show
feports and wider interest in the rebranded, refreshed site.
Fundraising is undertaken by the charity and monitored by the trustees, there are no external fundraisers. The CIO
has however enjoyed the support of Ihe Benefact Group with a donation to support a youth development
programme.
NODA Limited
NODA Limited is the trading arm of the NODA. All profits generated by its activity were donated by Gift Aid to
the CIO. to support its operation and its service to members. Profit of £117,818 {2023 - £51,468} for the year for
the year ended 31 December 2024 from NODA Limited has been GiftAided to the CIO.
NODA Insurance continues to provide cover for amateur theatre groups and provides commission
income to NODA Lld for the benefit of all members.
Al 1 January 2024, the following activities were transferred to the parent CIO - National Operatic and Dramalic
Associalion..
Acting as an authors, agent for a very successful catalogue of pantomime scripts, plays, melodramas,
musicals and reference books from a variety of authors.
Providing a range of Long Setvice Awards. Officials Badges, Commendation Awards and Youth Awards for
members of affiliated societies.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Public Benefit
Amateur Theatre attracts on stage opportunities and a potential for many others to be engaged behind the
scenes, including in stage management, marketing, and administration. NODA are able assist in this
involvement for the many thousands of people who attend various productions as members of audiences.
NODA is also heavily involved in arranging DBS Checks for its members and interacts in negotiations with
outside organisalions.
The Trustees refer to the Charity Commission's general guidan￿ on Public Benefit when reviewing the aims
and objectives of the Charity and in planning its future adivilies.
NODA Youth
Our youth development programme continues to follow a strategy designed lo encourage more young people
to get involved with amaleur theatre on a voluntary basis. This initiative provides young people with many
opportunities to develop their inter-personal and other transferable skills.
Financial review
The Association believes it prudenl, in order to provide reliable seNices over the longer term, to hold reserves to
absorb possible setbacks and to take advantage ol change and opportunity. Rese￿eS are required to=
Meet the running costs of the Association for a reasonable period, should any of its customary
SOLtrces of income fall short of expectations or cease entirely.
Absorb any shortfall in income resulting from a decline in the number of members.
Support any NODA region that requires additional funding to cope with unforeseen financial difficulties.
Explore new opportunitie5 for income generation which might require initial capital investment.
Reserve5 should ideally be equivalent to at least one year's expenditure of the Association {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 reserves at the year-end for the group totalled £923,023 (2023 - £929,646) comprising of unreslricted
funds tolalling £918,556 {2023 - £928,659) and restricted funds tolalling £4.467 (2023 - £9871.
Investment Policy
The investment policy of the association is that funds in excess of current requirements shall be invested,
having due regard to the level of those funds and to the foreseeable requirements of the association as sel out
in the reserves policy. Investments are lo be made. with security and safety being the main criteria.. Trustees
have a low appetite for risk. A reasonable markel return is the secondary objective.
Investment income received in the year amounted to £24,050 {2023 - £25,367). An unrealised gain on
revaluation of investments of £777 (2023 - £6,948) is incorporated into the results.
The investments of the association are held in charitable units comprising holdings with a wide geographi¢al
spread over a variety of sectors. The fair value of the units had increased by 0.1°/0 in the year. The position is
much affected by the economic uncertainties currently with which we are being faced and the instability this is
having on investment markets.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Risk Statement
A Risk Register is maintained which describes the risks to which the Charity might be exposed and is reviewed by
Trustees with procedures put in place lo manage these risks.
The Management Committee on behalf of the trustees ¢onducts a monthly review of the organisation's Risk
Register induding the principal risk register. These are subject to 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 uncertainties of Ihe charity relate to the recruitment and retention of members. These are
induded in the priority risk register and monitored closely.
Compliance
All Trustees continue to receive training in govemance and financial planning, to ensure an understanding of, and
compliance with, the roles and responsibilities of charity trustees. as well as improving NODA'S communications
with members.
Plans for future period5
Our rebrand continues lo generate a wave of positive feedback from across the membership. The bold new
colour scheme and our energising strapline, "For Every Stage" are making a strong impressiowlearly visible
in posters, programmes, and bulletins. We're especially grateful to our dedicated volunteers, who have
embraced the changes and helped drive their success.
Our new website-vibrant, interactive. and packed with relevant conlent-is already attracting attention from
potential members, fuelling a refreshed and targeted membership campaign built around our new messaging.
Behind the scenes, technology upgrades are empowering our head office team to deliver first-class support to
members, while strengthening the efforts of our regional volunteer network.
Looking ahead. we're set to launch an ambitious youth strategy over the next 12 monlhs, building on strong
foundations to inspire and engage young people right across the performing arts wmmunity.
Structure, governance and management
The Charity was constituted as a Charitable Incorporated Organisation (CIO) Registered on 20 January 2017
as amended on 20 June 2017 and 13 October 2019. Decisions relating to Ihe strategic diredion of the Charity,
the correct operation of its constitution by regional committees, staff salaries and other major finanGial
commitments are the responsibiliiy of the Council of Trustees. Committees are elected by, and accountable to
the Truslees.. The Management Committee and the Summer School Committee, with further subcommittees
andlor working groups including the Nalional Weekend steering group and other suk>groups convened for
specific projects andlor time limited reviewslactivities. Decisions relating to the day-Io•day operalion of the
Association's Head Office and delivery of services are delegated to the Chaimian of Trustees.
NODA is Committed lo training and development opportunities. Formal inductions for new Trustees are carried
oul by the Chairman of Trustees in advance of each one assuming office. This details Ihe dLrties and
responsibilities of serving as a Trustee and a member of Council. Those newly appointed are provided with an
induction pack containing a copy of the Association's Constitution & Bye•Laws, the Annual Report and
Accounts, recent minutes of Council meelings, supporting literature provided by the Charity Commission and
other relevant material.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Appointment of the Council of Trustees
Eleven Regional Councillors are subjed to annual eledion by members in the relevant region and are formally
elected and confirmed in their role at the Annual General Meeting of the CIO.
The President and VIGe-President are elected by the Council of Trustees from current or past Council members.
The Chairman of Trustees is elected by Ihe Council of Trustees from current or past Council members. initially
for a twovyear temi of office. An outgoing Chairman may seek re-election for a term of one year but not for a
period longer than six years consecutively. A Vice-chairman is elected by the Council of Trustees on a similar
basis to the Chairman except thal the appointment is subject to annual eleclion.
The council nominates up to people as life member representalives, and these are elected at the annual
general meeting.
The Immediate Past-President is an ex-officio member of Council.
The Chaimian of NODA Theatre Summer School is appointed annually from the body of trustees. to serve as a co-
opted member of council.
The Council has the power to c(Fopt UP lo two additional Trustees.
The Trustees have no beneficial interest in the Charity.
ICT Strategy
The website has seen furlher improvemenls to the home pages. The alkimportant volunteers page continues to be
updated and a pantomime orienled web page is attracting increasing expressions of interest.
Auditor
In accordance with the Gompany's articles, a resolution proposing that Azets Audit Services be reappointed as
auditor of the company will be put at a General Meeting.
The trustees, report was approved by the Board of Trustees.
Mr lan G Cox
Chaimian of Trustees
Dale=

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for preparing the Trustees. Report and the financial statements in accordan￿ with
applicable law and United Kingdom Accounting Standards (Untted Kingdom Generally AC￿pIed Accounting
Pradice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and
application of resources of the CIO for that year.
In preparing these financial statements, the trustees are required to:
select suitable accounting poliGies and then apply them consistently..
obsetve the methods and principles in the Charities SORP..
make judgements and estimates Ihat are reasonable and prudenl.,
slate whether applicable accounting standards have been followed, subject to any material departures disclosed
and explained in the financial stalemenls.. and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping sufficient accounting records thal disclose with reasonable accuracy at any
time the financial position of the CIO and enable Ihem lo ensure that the financial statements comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe provisions of the Irust deed. They
are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the
prevenlion and detection of fraud and other irregularities.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
Opinion
We have audited the financial statements of National Operatic and Dramatic Association {the parent 'CIO') and its
subsidiary (the 'Group') for the year ended 31 December 2024 which comprise the Group slatemenl of financial
activities, the Group and Parent CIO balance sheets, the Group statement of cash flows and notes to the financial
statements, including significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United lfjngdom
Generally Accepted Accounting Praclice).
In our opinion, the financial statements..
give a true and fair view of the state of Ihe Group and Parent CIO affairs as at 31 December 2024 and of its
incoming resources and application of resources, for the year Ihen ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pradio:
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors msponsibilitigs for the audit ol
the financial statements section of our report. We are independent of the Group and Parent CIO in accordance with
the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S
Ethical Standard, and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audtt eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded Ihat the trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material Un￿rtaInlieS relating to events or
conditions that, individually or collectively, may cast signrficant doubt on the CIO'S ability lo continue as a going
concem for a period of at least I￿e1ve months from when the financial stalements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections of this report.
Other information
The other information Comprises the information included in the annual report other than Ihe finartial statements
and our auditoffs report thereon. The truslees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider
whether the other information is malerially inconsislenl with the financial statements or our knowledge obtained in
the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstalements, we are required lo detemine whether this gives rise to a maleral misstatement
in the financial statements Ihemselves. If, based on the work we have performed, we condude that there is a
material misstatement of this olher information, we are required to report that fact.
We have nothing lo report in this regard.
Matters on whi¢h we are required to report by exception
We have nothing to report in respecl of the following matters in relation to which the Charities (A¢￿unIS and
Reports) Regulations 2008 require us to report to you if, in our opinion..
the information given in the financial statements is inconsistenl in any material respect with the trustees,
report,. or
sufficient accounting records have not been kept: or
the financial statements are not in agreement with the accounting records., or
we have not re￿iVed 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
Responsibilities of trustees
As explained more fully in the statemenl of trustees, responsibilities. the trustees are responsible for the preparation
of the financial slatemenls and for being satisfied that they give a IrLJe and fair view, and for such internal control as
the trustees determine is necessary to enable the preparalion of financial statements that are free from material
misstatement, whether due to fraud or error. In preparing Ihe financial statements, the tru5tee5 are responsible for
assessing the Group and Parent CIO'S ability to continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounting unless the trustees either inlend lo Cease
operations, or have no realistic alternative but to do so.
AuditoVs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https=Il
www.frc.org.uklauditorsresponsibilities. This description fomis part of our audilols report.
Extent to which the audit was considered capable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material
misstatements in respect of irregularities, including fraud.
We oblain and update our understanding of the entity, its activities, its control environment, and likely future
developments, including in relation lo the legal and regulatory framework applicable and how the entity is complying
with that framewoik. Based on this understanding, we identify and assess the risks of material misslatemenl of the
financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence Ihat is sufficient and appropriale lo provide a basis for our opinion. This includes
consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-complian￿ wilh laws and regulations. including fraud, we designed
procedures which included..
Enquiry of management and those charged with govemance around actual and potential litigation and
claims as well as actual, suspected and alleged fraud.,
Reviewing minutes of meetings of those charged wilh governan￿.,
Assessing the extent of compliance with Ihe laws and regulations considered lo have a direct material
effect on the financial slalements or the operations of the entity through enquiry and inspection..
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations.,
Performing audit work over the risk of management bias and override of controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of significant
transactions outside the nomial course of business and reviewing accounting estimates for indicators of
polenlial bias.
Because of the inherent limitations of an audit, Ihere is a risk that we will not detect all irregularities. including those
leading to a material misstatement in the financial stalemenls or non-compliance with regulation. This risk
increases the more that compliance with a law or regulalion is removed from the events and transactions reflected
in the financial statements, as we will be less likely to become aware of instan￿$ of noTrcompliance. The risk of
not delecling a material misstatement resulting from fraud is higher than for one resulling from error. as fraud may
involve collusion, forgery, intentional omissions. misrepresentations, or the override of internal control.

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
Other matters
Your attenlion is drawn to the fact that the Group and Parent CIO has prepared financial statements in accordance
with "Accounting and Reporting by Charities- Slalement of Recommended Practice applicable to ¢harities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities.. Statement of Reo)mmended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance wilh Current
Generally Accepted Accounting Practice.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees
those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent
pemiitted by law, we do not accept or assume responsibility to anyone other Ihan the charity and the charity's
trustees as a body. for our audit work, for this report, or for the opinions we have fomied.
Tracey Richardson Bsc IHons} FCA (Senior Statutory Auditor)
for and on behalf of Azets Audit Services
Chartered Accountants
Statutory Auditor
Westpoint
Lynch Wood
Petertiorough
Cambridgeshire
United Kingdom
PE2 6FZ
Azets Audit Services is eligible for appointment as auditor of the CIO by virtue of its eligibility for appointment as
auditor of a company under section 1212 ofthe Companies Act 2006.
10-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Current flnancial year
Unrestricted Restrictsd
funds
funds
2024
2024
Total
Totsl
2024
2023
Notss
wm
Donations and legacies
Charitable activities
Other trading activities
Investments
Olher income
7,924
678,811
123.899
31,997
49,689
5,910
13,834
678.811
123,899
31,997
49,689
6,652
551,209
179.937
32.519
8,688
Totsl income
892.320
5,910
898,230
779,005
enditure
Raising funds
6.081
6.081
124,528
Charitable aclivilies
897,119
2,430
899,549
659,914
Total expenditure
903,200
2,430
905,630
784,442
Net gainsl{losses) on investments
16
777
777
6,948
Net {expenditure)lincome for the yearl
Net movement in funds
(10,103)
3,480
(6,623)
1,511
Fund balances at 1 January 2024
928,659
987
929,646
928.135
Fund balances at 31 December 2024
918.556
4,467
923,023
929,646
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
11

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF FINANCIALACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Prlor financlal year
Unrestrlcted Restricted
funds
funds
2023
2023
Total
2023
Notes
Donations and legacies
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
8,888
Total Income
779,005
779,005
Raising funds
124,528
124,528
Charitable activities
8￿,094
3,820
659,914
Total expondlture
780,622
3,820
784,442
Net gainsl(losses> on Investments
16
6,948
6.948
Net lexpendlture)Ilncome for the yearf
Net movement In funds
5,331
(3,820)
1,511
Fund balances at 1 January 2023
923.328
4.807
928,135
Fund balance8 at 31 December 2023
928,659
987
929.646
12-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
BALANCE SHEETS
AS AT 31 DECEMBER 2024
Group
2024
Group
2023
cio
2024
cio
2023
Notes
Fixed assets
Intangible assets
Tangible assets
Investments
18
19
20
8,000
152,179
631,524
12,000
120,224
630,747
8,000
152,179
631,624
12,000
120,224
630,847
791,703
762,971
791,803
763,071
Current assets
Stocks
Debtors
Cash al bank and in hand
21
22
11.878
143,098
237.475
12.453
148,052
301,287
11,878
183,503
169,441
135,729
278,029
392.451
461.792
364.822
413,758
Creditors: amounts falling due within
one year
23
(261,131)
(295.117)
(255.917)
1269,498)
Net current assets
131,320
166,675
108,905
144,260
Total assets less current liabilities
923,023
929,646
900,708
907,331
Income funds
Restricted funds
fun
Designated funds
General unrestricted funds
25
4,467
987
4,467
987
26
26
175,865
742,691
143,910
784,749
175.865
720,376
143.910
762,434
923,023
929.646
900,708
907,331
As permitted by section 408 of the Companies Act 2006, the charitable company has not presented its own
statement of fi'nancial activities and related notes. The charitable company's deficit for the year was £6,623 (2023 -
surplus of £1,511).
The financial statements were approved by the board of diredors and authorised for issue on
are signed on ils behalf by..
and
Mr lak
ox
Chairnian of Trustees
13-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operallng acllvltles
Cash (absorbed by)Igenerated from
operations
31
(46,637)
17,022
Investing actlvitles
Purchase of tangible fixed assets
Proceeds from disposal of investments
Investment income received
(49.172)
(1,926)
(5.258)
32,519
31,997
Net ¢a$h (used in)Ig8naratsd from
Investlng actlvltles
{17,175)
25,335
Not cash used in finan¢lng actlvlties
Net (de¢rease)Iln¢rea8e In cash and ¢ash
equlvalents
(63,812)
42,357
Cash and cash equivalents at beginning of year
301.287
258,930
Cash and Cash oqulvalents at end of year
237,475
301,287
14-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infomiation
National Operatic and Dramalic Association is a Charitable Incorporated Organisation ¢CIO') and is registered
with the Charity Commission {Chariiy Registration Number 1171216) in England and Wales.
In the event of the CIO being wound up, the liability of the guarantee is limited to £1 per Member of the CIO.
The address of the registered office is given in Ihe Legal and Administrative Information page of these
financial statemenls. The nature of the Group's operations and principal activities are detailed in the Trustees
Report.
1.1 Accounting Convention
The financial statements have been prepared in accordance wrlh the CIO'S goveming document. the
Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland" {"FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their aGcounls in accordance with Ihe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effective l January 2019). The
CIO is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities {Accounls and Reports} Regulations 2008 only io
the extent required lo provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial ststemenls are prepared in sterling, which is Ihe functional currency of the CIO. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial slatements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
The consolidated statement of financial activities and consolidated balance sheet consolidate the financial
statements of the CIO and its subsidiary undertaking. The results of the subsidiary are consolidated on a line
by line basis.
1.2 Going concern
The financial statements have been prepared on a going concern basis. The Trustees have considered
relevanl information including annual budgets, forecasl future cash flows and the impact of subsequent events
in making their assessment.
Based on these assessmenls and having regard to resources available to the enlity the Trustees have
concluded that Ihey can continue to adopt the going concern basis in preparing the annual report and
accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Irustees in furtherance of their charitable
objectives.
Designated funds comprise funds which have been set aside al the discretion of the trustees for specific
purposes. The purposes and uses of the designated funds are sel out in the notes to the financial statements.
Restricted funds are subjecl to specific conditions by donors as to how they may be used. The purposes and
uses of the restricled funds are set out in the notes to the financial statements.
15-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting poliGies
{Continued}
1A Income
Income is re¢ognised when the CIO is legally entitled to it after any perfomiance conditions have been met.
the amounts can be measured reliably, and it is probable that income will be received.
Voluntary income is received by way of donations and gifts. including related gift aid, and is included in full in
the consolidated stalement of financial activities when re￿1Vable. Volunteer time is not included in the
financial statements.
Interest on funds held on deposit and distributions on investments are included when received by the Group.
Distributions from shares in group undertakings are included when receivable by Ihe CIO.
Legacies are recognised on receipt or otherwise if the CIO has been notified of an impending distribution. the
amount is known. and receipt is expected.
Subscription5 were payable by members on a yearly basis to 31 March. 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.
Royatties are in respect of pantomimes and are recognised in the accounts wilh reference to the date when
the Group is entitled to the income.
Other income is recognised in the period in which it is re￿1vable and to the exlent the goods have been
provided or on completion of the service.
1.5 Expenditure
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 probable that a transfer of economic benefits will be required in settlement and Ihe amount of
the obligation can be measured reliabty. Expenditure is dassified by activity. The costs of each adivity are
made up of the total of direct costs and shared costs. including support costs involved in undertaking each
aclivity.
Direct costs attribulable to a single activity are allocated directly to that activity. However, the cost of overall
direction and administration of each activity. comprising Ihe salary and overhead costs of the central function,
is apportioned on Ihe following basis. These are an estimate, based on staff time. of amount attributable to
each adivity.
Membership
National Conferen￿ IAGM
Regional events
Summer School
Publishing
2023.. 64.4 /0
2023.. 2.9/
2024.. 5/
2024. 5/
2023.. 11.50/0
2023.. 20.7/
16-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting poli¢ies
(Continued)
Support costs are those functions that assist the work of the Group but do not direclly undertake charitable
a¢tivilies. Such Costs are reallocated to each of the activities on a staff time basis.
Governance costs are those incurred in connection with administration of the Group and compliance with
constilulional and statutory requirements.
Expenditure on raising funds comprise the costs oftrading of the wholly owned subsidiary, NODA Limited.
Expendilure 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 irrecoverable VAT.
1.6 Intangible fixed assets other than goodwill
Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are
probable and the cost 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 accumulated amortisation and accumulated impaimient losses.
Amortisation is recognised so as lo write off the cost or valuation of assets less their residual values over their
useful lives on the following bases-.
Panlomime script rights
1 OOA straight line
1.7 Tangible fixed assets
Tangible fixed assets costing £1.000 or more are capitalised and recognised when future economic benefits
are probable and the cost or value of the asset can be measured reliably unless their economic life is
eslimaled al 12 months or less and are Ihen expensed in the consolidaled statement of financial activities.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to wrile off the cost or valuation of assets less their residual values over their
useful lives on the following bases-
Freehold property
Fixtures and fittings
Computers
2OA straight line
25O/b Straight line
20 /• and 33•/0 Straight line
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the differen￿ between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction Costs are expensed as incurred.
Investments in subsidiaries are valued at cost less provision for impairment.
17-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies
(Continued)
1.9 Impalrment of fixed assets
Al each reporting end date. the CIO reviews the carrying amounts of its tangible and intangible assets to
determine whether there is any indication thal those assets have suffered an impaimienl loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to delermine the extent of the
impairment loss (if any}.
1.10 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
omprises direct materials and, where applicable, direct labour costs 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 consideralion are measured the lower of repla￿ment cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be
incurred in marketing, selling and distribution.
1.11 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in cu￿ent liabilities.
1.12 Financial instruments
The CIO has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the CIO'S balan￿ sheet when the CIO becomes party to the
ontractual provisions of Ihe inslrument.
Financial assets and liabilities are offset, wrth the net amounts presented in the financial statements, when
there is a legally enforceable right to sel off the recognised amounts and there is an inlenlion to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price induding transaction costs and are subsequenuy carried at amortised cost using the effective
interest method unless the arrangement constitules a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a markel rate of interest. Financial assets
classrfied as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless
the arrangement conslitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a markel rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective inlerest rate method.
Trade creditors are obligalions to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured al amortised cost using the effective inlerest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the CIO'S contractual obligations expire or are discharged OT
can¢elled.
18

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continuedl
1.13 Taxation
The Group is exempl from Corporation tax as all of ils income is Gharitable and is applied for charitable
purposes. The Group's trading subsidiary, NODA Limited, gift aids all taxable profits to the CIO by means of a
distribLrtion.
1.14 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which Ihe employee's services are
received.
Temiination benefits are recognised immediately as an expense when the CIO is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
The Group operates a defined pension contribution plan for its employees. A defined contribution Fdan is a
pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions
have been paid the Group has no fvrther payment obligations.
The contributions are recognised as an expense in the slalemenl of financial activities when they fall due.
Amounts not paid are shown in accruals as a liability in Ihe 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 incentives received, are tharged as an expense
on a straight line basis over the lerm of the relevant lease.
Critical accounting estimates and judgements
In the application of the CIO'S accounting policies, the trustees are required to make judgements. estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from olher
sources. The estimates and associated assumplions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from Ihese estimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling
estimates 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 where the revision affects both current and future
periods.
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying
amounts of assets and liabilities within the next financial year are noted below..
Basis of valuation of fixed assets - intangibles
Expecled life of freehold property
Support cost allocation.
Donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted
funds
2023
2024
Donations and gifts
7.924
5,910
13,834
6,652
19-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charltable actlvlties
Unrg$trf¢tsd Unrestri¢ted
funds
funds
2024
2023
Membership
National conference
Regional evenls
Summer school
276.204
7.115
281.701
133.791
235.669
8.891
183,135
123,514
678,811
551,209
Other tradlng actlvltles
Unrestrfcted Unrostrlcted
funds
funds
2024
2023
Trading subsidiary
123.899
179.937
Invesknents
Unrn$tricted Unr•8trict•d
funds
funds
2024
2023
M&G Investments and Charities Propety Fund
Interest receivable
24,050
7,947
25,367
7,152
31,997
32,519
-20-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Other Income
Unr•8tricted Unrestricted
funds
funds
2024
2023
Royalties
Other income
Email newsletter advertising income
34,407
5,310
9,972
5,505
3,183
49,689
8,688
Ralsing funds
Unre$trl¢tsd Unrestrfcted
funds
funds
2024
2023
Trading subsidiary
6,081
124,528
6,081
124,528
21

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NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Audltorfs remuneration
Foes payable to the CIO'S audltor and a$$o¢lates:
2024
2023
Audit of the CIO'S annual accounts
7,100
6,750
Other Serv1¢￿ to the group
- Audit of the CIO'S subsidiaries
4,020
3,150
Total audlt fees
11,120
9,900
12 Surplus lor the financlal year
As permitted by section 408 of the Companies Act 2006, the holding company's surplus has not been
included in these financial statements. The surplus for the financial year 1$ made up as follows:
2024
2023
Holding Company's gross income for the financial year
892,149
654,477
Holding company's surplusl{deficit) for the financial year
(6,623)
1,511
-25-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Commercial operations in trading subsidiary
The wholly owned Irading subsidiary. NODA Limited. which is incorporaled in England and Wales, pays all of
its profits to the CIO under the gift aid scheme as a distribution. NODA Limited undertakes the trading
activities of its charitable parent, National Operalic and Dramatic Association. The CIO owns the entire issued
share capilal of 100 ordinary shares at £1 each. A summary ofthe trading results IS shown below.
2024
2023
NODA Limited Profit & Loss Account
Turnover
Cost of sales
Administration costs
Inleresl received
123,383
179,937
{22,7251
{101,8031
59
{6,081)
516
Nel profit
Less.. royalties paid to charity
117,818
55,468
(4.000)
117.818
{117,818)
51.468
(51,468)
Dividend paid to charity
Tax on loss on ordinary activities
Retained in the subsidiary
2024
2023
NODA Limited Balance Sheet
Current assets
Current liabilities
81,863
(59,448)
71,755
(49,340)
Total net assets
22.415
22,415
Aggregale share capital and reserves
22,415
22,415
14 Trustees
During the year travel expenses of £51,886 were reimbursed or paid directly to 16 Trustees {2023- £42,533 to
17 Trustees).
None of the Trustees {or any persons connected with them) received any remuneration during the year (2023
£nil).
See nole 30 - relaled party Iransaclions, for details of further transaclions with Trustees.
-26-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Employees
The average monthty number of employees during the year was..
2024
Number
2023
Number
Trading (NODA Limited)
Membership
Support
Total
Employment ¢08ts
Group
2024
Group
2023
cio
2024
cio
2023
Wages and salaries
Social security costs
Other pension costs
198,416
15,033
10,102
160,740
11,493
8,564
198.416
15,033
10,102
96,444
6,896
5,138
223,551
180,797
223,551
108,478
The number of employees whose annual remuneration was more than £60.000
is as follows:
2024
Number
2023
Numb•r
£60,001- £70,000
Contribulions totalling £3,131 were made to defined contribution pension schemes on behalf of employees
whose emoluments exceed £60,000.
16 N•t gainsl{108$es) on investments
Unre$trl¢tsd Unrestricted
funds
funds
2024
2023
Gainl{loss) on sale of investments
777
6,948
17 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the exlent Ihat these are applied to its charitable objects.
-27-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Intanglble flxed assets
Group and CIO
Pantomlme 8crfpt rfghts
Cost
At 1 January 2024 and 31 December 2024
40,000
Amortlsatlon and impairnwnt
At 1 January 2024
Amortisation charged for the year
28,000
4,000
At 31 December 2024
32.000
Carylng amount
At 31 December 2024
8.000
Al 31 December 2023
12,000
19 Tangible fixed assets
Group and CIO
Frnehold land Flxtur9s and
and bulkllngs
flttlngs
Computsrs
Tot•1
Cost
At 1 January 2024
Additions
Disposals
136,989
3.944
5,220
10,794
52,236
34,434
{2,672}
194.445
49,172
(2,672)
At 31 December 2024
140,933
16,014
83,998
240,945
Dopreclatlon and Impalmient
At 1 January 2024
Depreciation charged in the year
Eliminated in respect of disposals
26,969
4,050
4,143
2,988
43,109
10,199
{2,672)
74,221
17,217
(2,672)
At 31 December 2024
31.019
7.111
50,636
88.766
Carrying amount
At 31 December 2024
109.914
8,903
33,362
152,179
At 31 December 2023
110,020
1,077
9,127
120,224
-28-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Flxed asset Investments
Group
2024
Group
2023
cio
2024
cio
2023
Investments in subsidiaries
Listed investments
100
630,747
631,524
630,747
631,524
631,524
630,747
631,624
630,847
21 Stocks
Group
2024
Group
2023
cio
2024
cio
2023
Goods for resale
11,878
12,453
11,878
22 Debtors
Group
2024
Group
2023
cio
2024
cio
2023
Amounts falling due wlthln one year:
Trade debtors
Amounls owed by subsidiary undertakings
Olher deblors
Prepaymenls and accrued income
103,618
98.699
103,618
54,234
8,499
17.152
98,581
8,499
30,981
24,158
25,195
24,158
12,990
143,098
148,052
183,503
135,729
23 Crnditorn: amounts falllng due wlthln ono year
Group
2024
Group
2023
cio
2024
cio
2023
Deferred income
Trade creditors
Amounts owed to subsidiary undertakings
Other creditors
Accruals
24
216,411
10,035
198.319
32.583
216,411
10,035
198,319
31.559
23,721
2,739
31,946
48,336
15,899
2,739
26,732
15,899
261.131
295,117
255,917
269,498
-29-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24 Deferred income
Group
2024
Group
2023
cio
2024
cio
2023
Other deferred income
216,411
198,319
216,411
198,319
Deferred income is included in the financial statements as follows..
Group
2024
Group
2023
cio
2024
cio
2023
Deferred income is included within..
Current liabilities
216,411
198,319
216.411
198,319
Movements in the year..
Deferred income at 1 January 2024
Released from previous periods
Resources deferred in the year
198.319
{198,319)
216,411
168.907
{168,907)
198,319
198.319
(198,319)
216,411
168,907
(168,907)
198,319
Deferred income al 31 December 2024
216,411
198,319
216,411
198,319
Deferred income comprises income received in advance relating to..
Subscriptions
Regional Gonference income
Pantomine commissions due
Summer school income
25 Restricted funds
Group and CIO
The income funds of the charity include restricled funds comprising the following unexpended bala￿eS of
donations and grants held on trust for specific purposes=
Movement in funds
IncomSng
R8sourcos
Balanc• at
resour¢
•xpended 31 Drtember
2024
Balan¢¢ at
1 January 2023
R•sourc•s
Balanc• at
txpend•d1 January 2024
Rene Dearden Memorial
Training Fund
Stephanie Sorgo-Hudson
Benevolent Fund
1,927
{960)
967
967
2,880
(2,860)
20
5.910
(2,430)
3,500
4,807
(3,820>
987
5,910
12,430)
4,467
Rene Dearden Memorial Training Fund - To finano further training in the NODA North region.
Stephanie Sorg¢>Hudson Benevolent Fund- To assist summer school students in cases offinancial hardship.
-30-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
26 Designated funds
Group and CIO
The income funds of the Gharity include the following designated funds which have been sel aside out of
unrestricted funds by the trustees for specific purposes..
Balance at
1 January 2023
Resources
•xp•ndod
Transffrrs
Balan¢¥ at
1 January 2024
Resources
gxpgnded
Transfgfs
8alan¢È at
31 Docember
2024
Kenneth
Barnes
Bursary Fund
John
Richards
Training Fund
Fixed Asset5
Fund
1.026
1.026
1,026
22,660
22,660
22,660
128.624
(10,3261
1,926
120.224
{17,217}
49.172
152,179
152.310
(10.326)
1,926
143,910
(17,217)
49,172
175,865
The Kenneth Barnes Bursary Fund and Ihe John Richards Training Fund were designated by the Trustees.
These amounts have been invested in the listed investmenls portfolio. Income arising from the capital held in
investments for these funds is crediled to the general fund.
The purpose of the Kenneth Barnes Bursary Fund is to finance summer school bursaries.
The purpose of the John Richards Training Fund is to finance training in the dramatic arts.
Fixed Assets Fund This represents the value of general funds invested in land and buildings and other fixed
assets and is therefore not readily available for olher purposes.
31

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NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
29 Operating lease commitments
At the reporting end date the CIO had outstanding commitments for future minimum lease payments under
non-cancellable operating leases, which fall due as follows..
2024
2023
Within one year
Between two and five years
In over five years
4,138
13.288
4,138
16,550
886
17,426
21,574
30 Related party transactions
Remuneration of key management personnel
The total amount of employee benefils (including employer's pension contributions) received by key
management personnel is £65,116 {2023 £61.740). The charity considers ils key management personnel
comprises of the Trustees and the COO.
Transactions with related parties
During the year a gift aided donation of £117,81812023- £51,468) was received from NODA Limited.
Included within debtors is £54,234 {2023 - £23,721 included wilhin creditors) due to NODA Limited.
31 Cash generated from operations
2024
2023
(Defictl)Isurpus for the year
16.623)
1.511
Adjustments for..
Investment income recognised in statement of financial aclivities
Gain on disposal of investments
Depreciation and impairment of tangible fixed assets
131,997)
(7771
15,994
{32,519)
{6,948)
14,326
Movements in working capital=
Decrease in stocks
Decreasel(increase} in debtors
{Decrease)lincrease in creditors
Increase in deferred income
575
4,954
(46,855)
18,092
2,868
124,634}
33,006
29,412
Cash (absorbed by)Igenerated from operations
{46,63n
17.022
32 Analysis of changes in net funds
The CIO had no debt during the year.
-35-

NATIONAL OPERATIC AND DRAMATIC ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
33 Controlllng party
The Trustees do not consider there to b8 a single controlling party.
36-