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2022-10-31-accounts

Trustees’ Annual Report for the period

From 1 NOVEMBER 2021 (Period start date) To 31 OCTOBER 2022 (Period end date)

Charity name: WATERPERRY OPERA FESTIVAL

Charity registration number: 1177966

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 Objects as stated in the Constitution are as
Follows:
1.1 For the public benefit, to promote and
advance the arts, by establishing and
maintaining an Opera Festival to be
held at the Waterperry Estate in
Oxfordshire to improve the public’s
artistic tastes, appreciation of, and
engagement with, opera, music and
related arts.
1.2 For the public benefit, to promote and
advance education, by training young
artists in the presentation of opera,
music and related arts, as part of the
Opera Festival referred to in 1.1 above
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In line with our Mission to create a unique
and innovative Opera Festival based at
Waterperry House & Gardens in
Oxfordshire, we have:
Made our work accessible and inclusive
– by developing new diverse audiences for
opera, producing work in English where
possible and offering affordable tickets to
our audiences
Created socially relevant work –by
making it meaningful to today’s audiences
through an exploration of contemporary
social issues and timeless themes that
touch the very nature of the human
condition
Bridged the gap between artists and
audiences -by offering innovative and site-
responsive work, pushing the boundaries of
the operatic form, and producing talks,
masterclasses and workshops to inform,
encourage and inspire
Supported a diverse community of
artists –by offering equal opportunity for
all, growing a company from a broad
variety of backgrounds and developing
diverse emerging talent on our Young Artist
Programme
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The trustees confirm they have had regard
to the Charity Commission guidance on
public benefit

Additional information (optional) You may choose to include further statements where relevant about:

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SORP reference
Waterperry Opera Company Does not
Para 1.38 make any grants
Policy on grant making
It is. a key objective of our Mission
Para 1.38 Statement to develop and broaden
Policy on social investment knowledge of opera for as wide an
including program related audience as possible by providing
investment accessible opportunity to discover,
experience and participate in the art form
and this is at the heart of planning all future
activities
As always, Waterperry Opera Festival
Para 1.38 could not function without the significant
Contribution made by support it receives from volunteers, many
volunteers of whom return year after year. A wide
range of roles are covered by volunteers
including: kitchen/catering duties for cast
and crew, cleaning’ housekeeping, box
office and stewarding throughout the
Festival itself, the period preceding the
Festival opening and various preparatory
work beforehand. Total volunteer hours
were recorded as 915 and at £11 per hour,
the total volunteer input has been valued at
£10,065 as stated and included in the
CC17 financial report.
Not applicable
Other
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Achievements and Performance

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SORP reference
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Achievements and Performance Achievements and Performance Achievements and Performance
SORP reference
Summary of the main
achievements of the
charity, identifying the
difference the charity’s
work has made to the
circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The 2022 Waterperry Opera Festival took
place on the Waterperry Estate between
Friday 12th and Saturday 20th August 2022.
Our 2022 festival was an evolution of our
successful 2021 festival. As in previous
years, the many and varied spaces available
on the Waterperry Estate were used to
maximum advantage to provide a unique
experience for audiences. With many
pandemic restrictions lifted, we were able to
maximise ticket sales, and return to
producing work indoors and in intimate
settings.
The programme was led by 5 performances
of The Marriage of Figaro (Mozart),
conducted by Festival Musical Director,
Bertie Baigent which was staged in front of
the main Waterperry House façade.
Audiences enjoyed performances on the
front lawn, with many taking their picnics in
our dining pavilion. In the amphitheatre we
produced a new production of Ana
Sokolovic’s Svadba (A Wedding), a UK
professional premier, performed and created
by an all-female group of artists. We revived
our critically-acclaimed production of
Jonathan Dove’s Mansfield Park, performed
in the intimate period setting of the
Waterperry Ballroom. We also toured the
production to a number of different venues
across the UK from May to September 2022.
The ballroom also saw staged performances
of Janacek’s The Diary of One Who
Disappeared. The garden played host to a
number of different performances during the
festival. These included the revival of our
puppetry inspired production of Prokofiev’s
Peter and the Wolf for families, a twilight
concert of music by Richard Wagner, a
dance staging of Dove’s Figures in the
Garden, and a new commission for dancer
and viola called ‘Flora’. The performances of
Peter and the Wolf also incorporated British
Sign Language, signed by Paul Whittaker
who appeared in our 2021 production of
Hansel & Gretel. Figures in the Garden was
performed by dance students from Trinity
Laban Conservatoire of Music and Dance
and musicians from Oxfordshire County
Youth Orchestra.
Our Young Artist Programme returned again
in 2022, where we took on a new cohort of
emerging artists and creatives. The
programme supports promising young

practitioners (singers, directors, designers, musical directors) who are given the opportunity to gain experience in a professional environment together with coaching, mentoring and careers advice. The YA Programme was led by Rebecca Meltzer, supported by Head of Music Ashley Beauchamp. As well as taking part as the chorus in The Marriage of Figaro, there was a Young Artist Gala of material from the opera repertoire also presented in the ballroom. As in previous years, there was also a series of Pre- Show Talks by industry professionals and prominent artists. More details are available on the website including quotations from various sources in support of the Festival and its achievements. (http://www.waterperryoperafestival.co.uk). A total of 4126 attendees came to the festival in 2022; concessionary discounted ticket prices were made available to unwaged, disabled, students and NHS staff to support our objective and commitment to accessibility.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41 The key objective of Waterperry Opera
Festival is to produce a successful, good
quality and financially sound Festival which
meets our constitution’s ‘Objects’ and
‘Mission Statement’ as referred to above.
The trustees are satisfied this was clearly
achieved. The Festival is now well
established on the national opera calendar
and has attracted much positive comment
and support from all quarters including the
opera community nationally and local
institutions together with positive feedback
from audiences and all those involved in
curating the Festival
Performance of fundraising
activities against objectives
set		 Para 1.41 Fundraising was continuous throughout the
year, and overall delivered in line with the
budget. Several new approaches were
used in the year, a majority with reasonable
success, some with good success
Investment performance
against objectives		 Para 1.41 Not applicable, there are as yet insufficient
funds to consider investment separate from
the current account
Other

Financial Review

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Review of the charity’s Para 1.21 Income - £426.1k, comprised as follows
financial position at the end Donations/Grants - £105.1k
of the period (Including gift aid of £13.4)
Charitable Activities - £233.6k
(Including TTR of £51.9k)
Other Trading Activities - £11.0k
In Kind Support Valuation - £76.4k
Expenditure - £420.4k, comprised as
follows
Fundraising - £3.9k
Charitable Activities – 266.3k
Other Trading - £3.5k
Core Support Costs – £70.3k
In Kind Support Valuation - £76.4k
Net Income 2021/2022 - +£5.6k
Total Funds Carried Forward was £20.6k
(Including £5.8k restricted funds)
Cash Balance – at the end of the financial
year, the combined cash balance in the two
bank accounts (Virgin Money and Metro)
was £26.1k
Statement explaining the Para 1.22 The current policy on this (last agreed in
policy for holding reserves February 2021) identifies a target Financial
stating why they are held Reserve of £20,000. The budgets and
financial plans take account of this as best
possible.
In line with this policy and regardless of the
level of reserves/surplus funds, the trustees
review the financial situation at each board
meeting, and in the early months of the
calendar year make a call on the viability of
that year’s festival, with the option to cancel
unless the financial situation, both actual
and expected, is acceptable to all
Amount of reserves held Para 1.22 The level of reserves on the Balance Sheet
at the end of the Financial Year was £21.6k
Reasons for holding zero Para 1.22 Not applicable
reserves
Details of fund materially in Para 1.24 Not applicable
deficit
Explanation of any Para 1.23 Based on the agreed budgets for the
uncertainties about the financial year, along with regular monitoring
charity continuing as a going of the current and expected outcomes, as
concern mentioned earlier, the trustees have no
uncertainty regarding the charity as a
‘Going Concern’
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Additional information (optional) You may choose to include further statements where relevant about:

The primary funding sources are:

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Donations – individual and in the form of
The charity’s principal Para 1.47 sponsorship
sources of funds (including Ticket Sales
any fundraising) Grants
HMRC support via Gift Aid and Theatre Tax
Relief (TTR)
All funds are held currently in a non interest
bearing current account and an interest
Investment policy and bearing deposit account
objectives including any Para 1.46
social investment policy
adopted
The principal risks facing the charity are
A description of the principal Para 1.46 Low level of ticket sales
risks facing the charity Insufficient fund-raising
Delivery of poor audience/customer
outcomes at the Festival, which could lead
to a more challenging environment for ticket
sales at the following year’s festival
Bad weather which causes cancellation(s)
of the open air productions at the Festival
(but the ticket sale conditions advise of the
actions which can be taken to mitigate the
financial impact of this)
Not applicable
Other
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Structure, Governance and Management

Description of charity’s
trusts:		 Not applicable
Type of governing document
(trust deed, royal charter)		 Para 1.25 Constitution (revise din October 2018)
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 The charity is constituted as a Charitable
Incorporated Organisation (CIO)
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Trustees are selected via open
advertisements followed by interviews. The
existing trustees make the new
appointments
Additional information (optional)
You may choose to include further statements		 Additional information (optional)
You may choose to include further statements		 where relevant about:
Relationship with any
related parties		 Para 1.51 John Meltzer (trustee) has declared himself
to be a connected Person, being the parent
of Rebecca Meltzer (Director of the Young
Artist programme) and a member of the
governing body of SPES, who own
Waterperry House
Other

Reference and Administrative details

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Charity name WATERPERRY OPERA FESTIVAL
Other name the charity uses NONE
Registered charity number 1177966
Charity’s principal address WATERPERRY OPERA FESTIVAL
C/O Orchard Barn
Ilmer
Buckinghamshire
HP27 9RA
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Names of the charity trustees who manage the charity

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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Judith Tew Chair WOF Board of Trustees
2 John Meltzer Trustee As above
Mark Wilde Trustee (resigned As above
3
Feb 2023)
4 Howard Gatiss Trustee As above
5 Sue Wilkinson Trustee As above
Roger Dix Trustee, Treasurer As above
6
and Secretary
7 Jeremy Young Trustee As above
8
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– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets
held in this capacity		 NONE
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 Not applicable
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets		 Not applicable

Additional information (optional)

Names and addresses of advisers (Optional information)

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Type of Name Address
adviser
TTR Graham Suggett Creative Tax Reliefs Ltd, Chorley New Road, Bolton, BL1
adviser 4QZ
Independe Tom Wilcox Counterculture Partnership LLP, Unit 115 Ducie House,
nt Ducie Street, Manchester, M1 2JW
Examiner
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Name of chief executive or names of senior staff members (Optional information)

Guy Withers (CEO and Artistic Director)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Not applicable

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)
Full name(s)
Position (eg Secretary,
Chair, etc)
Date
Judith Tew

Chair

28 April 2023

28 April 2023

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ WATERPERRY OPERA FESTIVAL members of On accounts for the year 31 October 2022 Charity no 1177966 ended (if any) Set out on pages

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/10/2022.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Signed: Date: 28 April 2023
Name: Tom Wilcox
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Relevant professional Fellow Member of the Institute of Chartered Secretaries

Oct 2018

1

IER

qualification(s) or body (if any):

Address: Counterculture Partnership LLP Ducie House Unit 115, 37 Ducie Street, Manchester, England, M1 2JW

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

Oct 2018

2

IER

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Waterperry Opera Festival Charity No
(if any) 1177966
Annual accounts for the period
Period end
Period start date 01/11/2021 To date 31/10/2022
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Section A Statement of financial activities

Recommended categories by
activity
Guidance Notes
Incoming resources (Note 3)
Income and endowments from:
Donations and legacies
S01
Charitable activities
S02
Other trading activities
S03
Investments
S04
Separate material item of income
S05
Other
S06
S07
Resources expended (Note 6)
Expenditure on:
Raising funds
S08
Charitable activities
S09
Separate material item of expense
S10
Other
S11
S12
S13
Net gains/(losses) on investments
S14
S15
Extraordinary items
S16
S17
S18
Other gains/(losses)
S19
S20
Reconciliation of funds:
S21
S22
Total
Net movement in funds
Total funds brought forward
Total funds carried forward
Total
Net income/(expenditure) before investment
gains/(losses)
Net income/(expenditure)
Transfers between funds
Other recognised gains/(losses):
Gains and losses on revaluation of fixed assets for the charity’s own use		 Unrestricted
funds
Restricted
income
funds
Endowment
funds
Total funds
Prior year
funds
£
£
£
£
£
F01
F02
F03
F04
F05
75,168
106,275
-
181,443
136,980
226,615
7,000
-
233,615
84,606
11,032
-
-
11,032
7,811
-
-
-
-
-
-
-
-
-
-
-
-
-
-
312,815
113,275
-
426,090
229,397
3,911
-
-
3,911
4,193
305,654
107,435
-
413,089
233,553
-
-
-
-
-
3,448
-
-
3,448
7,756
313,013
107,435
-
420,448
245,502
198
-
5,840
-
5,642
16,105
-
-
-
-
-
-
198
-
5,840
-
5,642
16,105
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
198
-
5,840
-
5,642
16,104
-
14,943
-
-
14,943
31,047
14,745
5,840
-
20,585
14,943

Section B Balance sheet

Fixed assets
Intangible assets (Note 15)
Tangible assets (Note 14)
Heritage assets (Note 16)
Investments (Note 17)
Total fixed assets
Current assets
Stocks (Note 18)
Debtors (Note 19)
Investments (Note 17.4)
Cash at bank and in hand (Note 24)
Total current assets
Creditors: amounts falling due within
one year (Note 20)
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
one year (Note 20)
Provisions for liabilities
Total net assets or liabilities
Funds of the Charity
Endowment funds (Note 27)
Restricted income funds (Note 27)
Unrestricted funds
Revaluation reserve
Total funds
Signed by one or two trustees on behalf of all
the trustees		 Guidance Notes
B01
B02
B03
B04
B05
B06
B07
B08
B09
B10

B11
B12
B13
B14
B15
B16
B17
B18
B19
B20
B21
 Unrestricted
funds
£
F01
-
2,660
-
-
Restricted
income
funds
£
F02
-
-
-
-		 Endowment
funds
Total this
year
£
£
F03
F04
-
-
-
2,660
-
-
- -		 Total last
year
£
F05
-
825
-
-
2,660 - -
2,660		 825
-
42,785
-
20,285		 -
-
-
5,840		 -
-
- 42,785
-
-
- 26,125
-
10,607
-
14,219
63,069 5,840 -
68,909		 24,826
50,984 - - 50,984 10,708
12,085 5,840 -
17,925		 14,118
14,745 5,840 -
20,585		 14,943
-
-		 -
-		 - -
-
-		 -
-
14,745 5,840 -
20,585		 14,943
-
14,745		 5,840 -
5,840
- 14,745
-
-
-
14,943
14,745 5,840 -
20,585		 14,943
Signature Print Name
Judith Tew		 Date of
approval
dd/mm/yyyy
28/04/2023

CC17a (Excel)

03/05/2023

2

Section C Notes to the accounts

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

• and with
• and with
The charity cons
FRS 102.
• and with the C
Where accounts
concern basis, p
together with the
prepared the ac
charity is not reg
1.2 Going con
If there are mat
charity's ability
applicable", if a
Disclosure of an
going concern a
 -Tick as appropr
An explanation a
the conclusion th
concern;

titutes a public benefit entity a
harities Act 2011.
are not prepared on a going
lease disclose this fact
basis on which the trustees
counts and the reason why the
arded as a going concern.
cern
erial uncertainties related to
to continue as a going conc
ppropriate:
y uncertainties that make the
ssumption doubtful;
iate
s to those factors that support
at the charity is a going
the Statement of R
preparing their acc
in the UK and Rep
the Financial Repo
Ireland (FRS 102)		 s defined by

events or co
ern, please p
The Waterpe
Concern and

ecommended
ounts in accord
ublic of Ireland
rting Standard
NONE
nditions that cast significant doubt on the
rovide the following details or state "Not
rry Opera Festival is considered to be a Going
there are no Material Uncertainties.
NOT APPLICABLE
Practice: Accounting and Reporting by Charities
ance with the Financial Reporting Standard applicable
(FRS 102) issued on 16 July 2014
applicable in the United Kingdom and Republic of

1.3 Change of accounting policy

The accounts present a true and fair view and the accounting policies adopted are those outlined in note { }.

Yes
No
Please disclose
(i) the nature of
(ii) the reasons
provides more
and
(iii) the amount
in the current p
the aggregate a
periods before		 * -Tick as appropriate
:
the chan
why app
reliable a
of the ad
eriod, ea
mount o
those pr		 NOT APPLICABLE
NOT APPLICABLE
NOT APPLICABLE
ge in accounting policy;
lying the new accounting policy
nd more relevant information;
justment for each line affected
ch prior period presented and
f the adjustment relating to
esented, 3.44 FRS 102 SORP.

1.4 Changes to accounting estimates

Yes
No
No changes to a		 ccounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
* -Tick as appropriate
Please disclose:
(i) the nature of any changes; NOT APPLICABLE
(ii) the effect of the change on income and expense or
assets and liabilities for the current period; and		 NOT APPLICABLE
(iii) where practicable, the effect of the change in one or
more future periods.
NOT APPLICABLE

1.5 Material prior year errors

No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).

Yes
No
Please disclose
(i) the nature of
(ii) for each pri
amount of the
affected; and
(iii) the amount
earliest prior p		 * -Tick as appropriate
:
the prio
or period
correctio
of the co
eriod pre		 NOT APPLICABLE
NOT APPLICABLE
NOT APPLICABLE
r period error;
presented in the accounts, the
n for each account line item
rrection at the beginning of the
sented in the accounts.

CC17a (Excel)

03/05/2023

3

Section C Notes to the accounts (cont)

Note 2 Accounting policies

2.2 INCOME

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This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a
different or additional policy has been adopted then this is detailed in the box below.
Recognition of income These are included in the Statement of Financial Activities (SoFA) when:
 the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and
Yes
No N/a
 the monetary value can be measured with sufficient reliability. 
Yes No N/a
There has been no offsetting of assets and liabilities, or income and expenses, unless required

Offsetting or permitted by the FRS 102 SORP or FRS 102.
Yes No N/a
Grants and donations are only included in the SoFA when the general income
Grants and donations recognition criteria are met (5.10 to 5.12 FRS102 SORP). 
In the case of performance related grants, income must only be recognised to the
extent that the charity has provided the specified goods or services as entitlement to Yes No N/a
the grant only occurs when the performance related conditions are met (5.16 FRS 102
SORP). 
Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has
been grant of probate, the executors have established that there are sufficient assets Yes No N/a
in the estate and any conditions attached to the legacy are either within the control of 
the charity or have been met.
Yes No N/a
Government grants The charity has received government grants in the reporting period

Gift Aid receivable is included in income when there is a valid declaration from the
Tax reclaims on donor. Any Gift Aid amount recovered on a donation is considered to be part of that Yes No N/a
donations and gifts gift and is treated as an addition to the same fund as the initial donation unless the 
donor or the terms of the appeal have specified otherwise.
Contractual income and This is only included in the SoFA once the charity has provided the related goods or Yes No N/a
performance related services or met the performance related conditions. 
grants
Donated goods are measured at fair value (the amount for which the asset could be Yes No N/a
Donated goods
exchanged) unless impractical to do so. 
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
the fair value of those gifts at the time of their receipt and they are recognised on Yes No N/a
receipt. In the reporting period in which the stocks are distributed, they are recognised

as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in Yes No N/a
'Income from other trading activities' with the corresponding stock recognised in the

balance sheet. On its sale the value of stock is charged against 'Income from other
Yes No N/a
Goods donated for on-going use by the charity are recognised as tangible fixed assets

and included in the SoFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SoFA as income from donations Yes No N/a
when receivable.

Donated services and Donated services and facilities are included in the SOFA when received at the value of Yes No N/a
facilities the gift to the charity provided the value of the gift can be measured reliably. 
Donated services and facilities that are consumed immediately are recognised as Yes No N/a
income with an equivalent amount recognised as an expense under the appropriate

heading in the SOFA.
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The charity has incurred expenditure on support costs.

Support costs

Volunteer help The value of any voluntary help received is not included in the accounts but is
described in the trustees’ annual report.
Income from interest, This is included in the accounts when receipt is probable and the amount receivable
royalties and dividends can be measured reliably.
Income from membership Membership subscriptions received in the nature of a gift are recognised in Donations
subscriptions and Legacies.
Membership subscriptions which gives a member the right to buy services or other
benefits are recognised as income earned from the provision of goods and services as
income from charitable activities.
Settlement of insurance
claims		 Insurance claims are only included in the SoFA when the general income recognition
criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other
income in the SoFA.
Investment gains and This includes any realised or unrealised gains or losses on the sale of investments and
losses any gain or loss resulting from revaluing investments to market value at the end of the
year.
2.3 EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or
constructive obligation committing the charity to pay out resources and the amount of
the obligation can be measured with reasonable certainty.
Governance and support
costs		 Support costs have been allocated between governance costs and other support.
Governance costs comprise all costs involving public accountability of the charity and
its compliance with regulation and good practice.
Support costs include central functions and have been allocated to activity cost
categories on a basis consistent with the use of resources, eg allocating property costs
by floor areas, or per capita, staff costs by the time spent and other costs by their
usage.
Grants with performance
conditions		 Where the charity gives a grant with conditions for its payment being a specific level of
service or output to be provided, such grants are only recognised in the SoFA once the
recipient of the grant has provided the specified service or output.
Grants payable without
performance conditions		 Where there are no conditions attaching to the grant that enables the donor charity to
realistically avoid the commitment, a liability for the full funding obligation must be
recognised.
Redundancy cost The charity made no redundancy payments during the reporting period.
Deferred income No material item of deferred income has been included in the accounts.
Creditors The charity has creditors which are measured at settlement amounts less any trade
discounts
A liability is measured on recognition at its historical cost and then subsequently
Provisions for liabilities measured at the best estimate of the amount required to settle the obligation at the
reporting date
Basic financial
instruments		 The charity accounts for basic financial instruments on initial recognition as per
paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17
to 11.19, FRS102 SORP.

----- Start of picture text -----
Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

Yes No N/a

----- End of picture text -----

2.4 ASSETS

£500
Intangible fixed assets
Heritage assets
Tangible fixed assets for
use by charity
These are capitalised if they can be used for more than one year, and cost at least
They are valued at cost.
The depreciation rates and methods used are disclosed in note 14
The charity has intangible fixed assets, that is, non-monetary assets that do not have
physical substance but are identifiable and are controlled by the charity through
custody or legal rights. The amortisation rates and methods used are disclosed in note
9.5
They are valued at cost.
The charity has heritage assets, that is, non-monetary assets with historic, artistic,
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year
end. The same treatment is applied to unlisted investments unless fair value cannot
be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
Stocks and work in
progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
realisable value.
Goods or services provided as part of a charitable activity are measured at net realisable value
based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the
contract.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at
settlement amount after any trade discounts or amount advanced by the charity.
Subsequently, they are measured at the cash or other consideration expected to be received.
Current asset
investments
The charity has has investments which it holds for resale or pending their sale and cash and
cash equivalents with a maturity date less than one year. These include cash on deposit and
cash equivalents with a maturity date of less than one year held for investment purposes rather
than to meet short term cash commitments as they fall due.
They are valued at fair value except where they qualify as basic financial instruments.		 Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Yes
No
N/a

Section C Notes to the accounts (cont)

Note 3 Analysis of income

----- Start of picture text -----
Restricted
Unrestricted income Endowment
funds funds funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 61,406 8,500 - 69,906 46,945
and legacies: Gift Aid 13,391 - - 13,391 8,799
Legacies - - - - -
General grants provided by government/other
charities 372 21,350 - 21,722 22,385
Membership subscriptions and sponsorships
which are in substance donations
- - - -
Donated goods, facilities and services - 76,425 - 76,425 58,851
Other - - - - -
Total 75,168 106,275 - 181,443 136,980
Charitable Theatre Tax Relief 51,944 - - 51,944 3,211
activities: Fundraising 1,300 - - 1,300 -
Festival Productions 115,951 - - 115,951 76,092
Non-Festival Events 11,413 - - 11,413 1,203
External Tour Productions 45,710 - - 45,710 4,100
Young Artist Programme 297 7,000 - 7,297 -
Total 226,615 7,000 - 233,615 84,606
Other trading Catering
activities: 7,810 - - 7,810 3,674
Festival Programme 3,142 - - 3,142 3,977
Waterperry House Bedding & Towel Hire 80 - - 80 160
Other - - - - -
Total 11,032 - - 11,032 7,811
Income from Interest income - - - - -
investments: Dividend income - - - - -
Rental and leasing income - - - - -
Other - - - - -
Total - - - - -
Separate Debtors last year - - - - -
material item - - - - -
of income: - - - - -
- - - - -
Total - - - - -
Total - - - - -
TOTAL INCOME 312,815 113,275 - 426,090 229,397
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Section C Notes to the accounts (cont)

Note 5 Donated goods, facilities and services

----- Start of picture text -----
This year Last year
£ £
Use of Property (Auditions) - Note 1 1,750 1,750
Use of Property (Performance Venues) - Note 2 35,035 22,585
Use of Property (Accommodation Cast & Crew) - Note 3 37,400 34,416
Use of Property (Trustee Meetings) - Note 4 800 100
Use of Property (Rehearsals) - -
Bookkeeping Services - Note 5 1,440 -
76,425 58,851
This year Last year
Please provide details of the
accounting policy for the recognition Use Notes below: Use Notes below:
and valuation of donated goods,
facilities and services.
Auditions took place at McClaren Hall, London Auditions took place at McClaren Hall, London
over a total of 5 days; a total of 35 hours @ at over a total of 5 days; a total of 35 hours @
Note 1 - Auditions £50 per hour. £50 per hour.
Total value £1,750 Total value £1750
Waterperry Performance venues were provided Waterperry Performance venues were
free of charge, but their normal fee is 30% of provided free of charge but normal fee is 30%
ticket sales (£115,951). Additionally, McClaren of ticket sales (£75285).
Note 2 - Performance Venues
Hall was used for a supporters event; 5 hours in Total value £22585
total, valued at £250
Total value £35035
Accommodation /Food for Cast and Crew at Accommodation/Food for Cast & Crew at
Waterperry House was subsidised at the rate of Waterperry House was subsidised at the rate
Note 3 - Accommodation/Food £50 per person per day (748 units) of £48 per person per day (717 units).
Total value £37400 Total value £34416
All trustee meetings took place, with no charge Only two Trustee Meetings took place at
made, either in London at the SPES Waterperry House and Gardens free of charge
Note 4 - Trustee Meetings headquarters or at Waterperry House and as others took place on Zoom.
Gardens. There were 8 meetings each of 3 hours Total value £100
duration, in the year, market cost £100 per
Between February and October 2022 (9 months), ti T t l l £800
the equivalent of 8 hours of bookkeeping
Note 5 - Bookkeeping Services services was provided free of charge by Diligent
Accounting Services Limited at a rate of £20 per
hour.
T t l l £1 440
Please provide details of any
unfulfilled conditions and other
contingencies attaching to resources Not Applicable Not Applicable
from donated goods and services not
recognised in income.
Volunteers: Volunteers undertook a variety of Volunteers: Volunteers undertook a variety of
roles including Kitchen Catering duties, roles including Kitchen Catering duties,
Housekeeping, Cleaning, Box Office, Stewarding Housekeeping, Cleaning, Box Office,
and general assistance. Stewarding and general assistance.
Please give details of other forms of Total number of volunteer hours - 915 Total number of volunteers - 25
other donated goods and services not @ £11 per hour, the total volunteer time has Total number of volunteer hours - 954
recognised in the accounts, eg been valued at £10065 @ £10 per hour, the total volunteer time has
contribution of unpaid volunteers. This figure includes time spent by Kitchen Staff been valued at £9540
before the Festival Week preparing meals in This figure includes time spent by Kitchen
advance Staff before the Festival Week preparing
meals in advance
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Section C Notes to the accounts (cont)

Note 6 Analysis of expenditure

----- Start of picture text -----
This year Last year
Restricted
Unrestricted Restricted Endowment Unrestricted income Endowment
Analysis funds income funds funds Total funds funds funds funds Total funds
Expenditure on raising funds: £ £
Incurred seeking donations & grants - - - - 3,000 - - 3,000
Incurred on Fundraising events
3,911 - - 3,911 985 - - 985
Staging fundraising events
- - - - - - - -
Other fundraising costs - - - - 208 - - 208
Fudraising agents - - - - - - - -
Operating charity shops - - - - - - - -
Operating a trading company
undertaking non-charitable trading
activity - - - - - - - -
Advertising, marketing, direct mail and
publicity - - - - - - - -
Start up costs incurred in generating
new source of future income
- - - - - - - -
Database development costs - - - - - - - -
Other trading activities - - - - -
Investment management costs: - - - - -
Portfolio management costs - - - - - - - -
Cost of obtaining investment advice
- - - - - - - -
Investment administration costs
- - - - - - - -
Intellectual property licencing costs
- - - - - - - -
Rent collection, property repairs and
maintenance charges - - - - - - - -
Total expenditure on raising funds 3,911 - - 3,911 4,193 - - 4,193
Expenditure on charitable activities:
Festival Management 44,263 9,335 - 53,598 19,826 - - 19,826
Marketing, Advertising & Publicity 9,148 3,000 - 12,148 5,015 - - 5,015
Waterperry Accommodation & Fees 27,982 - - 27,982 17,719 - - 17,719
Festival Productions 108,597 11,000 - 119,597 68,981 17,694 - 86,675
External Productions 40,773 - - 40,773 2,615 1,703 - 4,318
Ticketing - - - - - - - -
Non-Festival Events 8,819 - - 8,819 - 2,577 - 2,577
Young Artist Programme - 3,447 - 3,447 885 1,502 - 2,387
Core Support Costs (see Note 9) 66,071 4,228 - 70,299 36,185 - - 36,185
In Kind Support Valuation (see Note 5) - 76,425 - 76,425 - 58,851 - 58,851
Total expenditure on charitable
activities 305,653 107,435 - 413,089 151,226 82,327 - 233,553
Separate material item of expense
- - - - - - - -
Total - - - - - - - -
Other
Festival Programme 1,565 - - 1,565 4,605 - - 4,605
Catering 1,675 - - 1,675 2,928 - - 2,928
Waterperry House Bedding & Towels 208 - - 208 63 160 - 223
Other Non-Operating Costs - - - - - - - -
Total other expenditure 3,448 - - 3,448 7,596 160 - 7,756
TOTAL EXPENDITURE 313,013 107,435 - 420,448 163,015 82,487 - 245,502
----- End of picture text -----

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Section C Notes to the accounts

Note 9 Support Costs Please complete this note if the charity has analysed its expenses using activity categories and has support costs.

This year

----- Start of picture text -----
Support cost Raising funds Core Costs Grand total Basis of allocation
(examples) £ £ £ £ £ (Describe method)
Salary Costs - Raising 11,092 - - - 11,092
Funds
- 44,983 - - 44,983
Salary Costs - Core
Planning for Next - 805 - - 805
Year's Festival
Insurance, Storage, IT - 3,651 - - 3,651
costs and Training
- 680 - - 680
Accounting Fees
- 3,480 - - 3,480
Tax Advisory
Independent - 450 - - 450
Examination Fees
- 978 - - 978
Depreciation
Small Asset Purchases [ - 2,324 - - 2,324 ]
- 1,856 - - 1,856
General Expenses
11,092 59,207 - - 70,299
Total
Last year
Support cost Raising funds Core Costs Grand total Basis of allocation
(examples) £ £ £ £ £ (Describe method)
Salary Costs - Raising 3,000 - - - 3,000
Funds
Salary Costs - Core 30,690 - - 30,690
Insurance, Storage, IT - 2,522 - - 2,522
costs & Training
Recruitment Fee 600 - - 600
Tax Advisor Fee 480 - - 480
Independent Examination - 420 - - 420
Fee
Depreciation 275 - - 275
General Expenses 859 - - 859
Small Asset Purchases 339 - - 339
3,000 36,185 - - 39,185
Total
----- End of picture text -----

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Section C Notes to the accounts

Note 10 Details of certain items of expenditure

10.1 Fees for examination of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).

Other fees (for example: financial advice, consultancy, accountancy services) paid
to the independent examiner
Independent examiner’s fees
Assurance services other than audit or independent examination
Tax advisory fees		 This year
Last year
£
£
450 420
- -
1,800 480
- -

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Section C Notes to the accounts (cont)

Note 14 Tangible fixed assets

Please complete this note if the charity has any tangible fixed assets

14.1 Cost or valuation

14.1 Cost or valuation
Freehold land &
buildings
£		 Other land &
buildings
£		 Plant,
machinery
and motor
vehicles
£		 Fixtures, fittings
and equipment
£		 Total
£
At the beginning of the year - - - 1,100 1,100
Additions - - - 2,814 2,814
Revaluations - - - - -
Disposals - - - - -
Transfers * - - - - -
At end of the year - - - 3,914 3,914
14.2 Depreciation and impairments
**Basis Straight Line Straight Line Straight Line Straight Line Straight Line
** Rate 25%
At beginning of the year - - - 275 275
Disposals - - - - -
Depreciation - - - 979 979
Impairment - - - - -
Transfers* - - - - -
At end of the year - - - 1,254 1,254
14.3 Net book value
Net book value at the beginning of the year - - - 825 825
Net book value at the end of the year - - - 2,660 2,660

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Section C Notes to the accounts (cont)

Note 19 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Please complete this note if the charity has any
debtors or prepayments.
Note 19 Debtors and prepayments
19.1 Analysis of debtors
Trade debtors
Prepayments and accrued income
Other Debtors
Total		 This year
Last year
£
£
100
-
42,685 9,090
- 1,517
42,785 10,607

Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.

19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)

Prepayments and accrued income
Other debtors
Total
Trade debtors		 This year
Last year
£
£
- -
- -
- -
- -
- -

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Section C Notes to the accounts (cont)

Note 20 Creditors and accruals

Please complete this note if the charity has any creditors or accruals.

20.1 Analysis of creditors

Accruals for grants payable
Bank loans and overdrafts
Trade creditors
Payments received on account for contracts or
performance-related grants
Accruals and deferred income
Taxation and social security
Deferred Income
Total		 This year
Last year
This year
Last year
£
£
£
£
- - - -
- - - -
2,977 1,026 - -
- - - -
48,008 432 - -
- - - -
- 9,250 - -
Amounts falling due within
one year
Amounts falling due after
more than one year
50,984
10,708
- -

20.2 Deferred income

Please complete this note if the charity has deferred income.

Please explain the reasons why income is deferred.
Movement in deferred income account
Balance at the start of the reporting period
Amounts added in current period
Amounts released to income from previous periods
Balance at the end of the reporting period		 This year This year
Last year
£
£
- -
- 9,250
- -
Last year
Income from tickets sold by
Eventbrite for The Messiah
(17th & !8th December 2021)
but not paid to Waterperry
Opera before End of Year -
£9090 recorded as Debtor
(N19)
- 9,250

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Section C Notes to the accounts (cont)

Note 24 Cash at bank and in hand
Other
Cash at bank and on hand
Total
Short term cash investments (less than 3 months maturity date)
Short term deposits		 This year
Last year
£
£
-
-
-
-
26,125
14,219
-
-
26,125
14,219

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Section C Notes to the accounts (cont)

Note 27 Charity funds

27.1 Details of material funds held and movements during the CURRENT reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

----- Start of picture text -----
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
General Fund UR All Festival issues 14,943 314,255 - 314,453 - 14,745
Restricted Fund R Young Artist Programme - 36,850 - 31,010 - - 5,840
Restricted Fund R In-Kind Support - 76,425 - 76,425 - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Other funds N/a N/a - - - - - -
Total Funds 14,943 427,530 - 421,888 - - 20,585
----- End of picture text -----*

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Section C Notes to the accounts (cont)

Note 27 Charity funds (cont)

27.2 Details of material funds held and movements during the PREVIOUS reporting period

Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.

* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds

----- Start of picture text -----
Fund Fund
balances balances
Type PE, EE Purpose and Restrictions brought Gains and carried
R or UR
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
General Fund UR All other Festival issues 30,047 147,910 - 163,015 - - 14,943
- - - - - -
Restricted Fund R Festival Productions - 15,275 - 15,275 - - -
Restricted Fund R External Productions - 1,703 - 1,703 - - -
Restricted Fund R Non-Festival Events - 2,577 - 2,577 - - -
Restricted Fund R Waterperry Bedding/Towels - 160 - 160 - - -
Restricted Fund R Young Artist Programme 1,000 1,502 - 2,502 - - -
Restricted Fund R In-Kind Support - 58,851 - 58,851 - - -
Restricted Fund R ACE Outstanding - 1,419 - 1,419 - - -
Sub Total Restricted - £81,487
Other funds N/a N/a - - - - - -
Total Funds 31,047 229,397 - 245,502 - - 14,943
----- End of picture text -----*

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Section C Notes to the accounts (cont)

Note 28 Transactions with trustees and related parties

If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.

28.1 Trustee remuneration and benefits

This year

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)

TRUE

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

NOT APPLICABLE
Please give details of why remuneration or other
employment benefits were paid.
Where an ex gratia payment has been made to a trustee,
provide an explanation of the nature of the payment.
Name of trustee
Legal authority (eg
order, governing
document)		 Remuneration
Pension
contribution
Redundancy
(including
loss of
office)/ex
gratia
Other
TOTAL
£
£
£
£
£
- - - -
-
NOT APPLICABLE
NOT APPLICABLE
Amounts paid or benefit value

Last year

None of the trustees have been paid any remuneration or received any other benefits from an employment TRUE with their charity or a related entity (True or False)

In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.

NOT APPLICABLE
Legal authority (eg
order, governing
document)
Name of trustee		 Remuneration
Pension
contribution
Redundancy
(including
loss of
office)/ex
gratia
Other
TOTAL
£
£
£
£
- - - -
-
Amounts paid or benefit value

Please give details of why remuneration or other NOT APPLICABLE employment benefits were paid. Where an ex gratia payment has been made to a trustee, NOT APPLICABLE provide an explanation of the nature of the payment.

28.2 Trustees' expenses

If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".

No trustee expenses have been incurred (True or False) TRUE

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28.3 Transaction(s) with related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.

----- Start of picture text -----
There have been no related party transactions in the reporting period (True or False) FALSE
Amounts
written off
Name of the trustee Relationship Description of the Balance at Provision for bad
Amount during
or related party to charity transaction(s) period end debts at period end
reporting
period
£ £ £ £
Guy Withers Son of Paid Remuneration for position 2022: £33,275 N/A N/A N/A
(CEO/Artistic Director) Trustee held (agreed by other Trustees without involvement of ‘Connected (2021: £15,000)
Robert Persons’) plus a number of
Withers reimbursements in respect of
purchases to support the Festival
(declared as Productions (not included above).
Connected Contract runs from 1 October 2020
Person) to 30 September 2023. Freelance
Self Employed status.
Rebecca Meltzer Daughter of Rebecca was engaged as a 2022: £3,920 N/A N/A N/A
(Associate Artistic Trustee John freelance with self employment status in the year, on terms (2021: £3,990)
Director) Meltzer commensurate with her role and
(declared as with others holding similar
positions at the company. Her
Connected employment terms, including
Person) remuneration, were determined by
the CEO and Artistic Director, as is
normal.
Howard Gatiss Trustee Income and Expenditure for 2022: £0 N/A N/A N/A
(only for 2021) Personal Performance event (2021: £1,041)
----- End of picture text -----

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