## **Wexford Festival Opera UK Foundation**
**Financial Statements for the year ended 31 December 2025**
**Wexford Festival Opera UK Foundation**
## **CONTENTS**
||**Page**|
|---|---|
|TRUSTEES AND OTHER INFORMATION|2|
|TRUSTEES' REPORT|3 - 5|
|INDEPENDENT EXAMINER’S REPORT|6|
|STATEMENT OF FINANCIAL ACTIVITIES|7|
|BALANCE SHEET|8|
|NOTES TO THE FINANCIAL STATEMENTS|9 - 10|
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**Wexford Festival Opera UK Foundation**
## **TRUSTEES AND OTHER INFORMATION**
|**Trustees**|Dame Catherine Fiona Woolf (Chair)|
|---|---|
||Mary Mullin|
||John Fingleton|
||Terry Neill|
||Patrick O’Sullivan|
||Christopher Voss|
||Pat Butler|
||Leslie MacLeod Miller|
||Paul Cleary|
||Michael Holley|
||Clara Hamer|
|**Secretary**|Keith Hatchick|
|**Solicitors**|Marshall Hatchick|
||4/6 York Street|
||London W1U 6QD|
|**Bankers**|Bank of Ireland|
||PO Box 2124|
||Belfast BY1 9RS|
|**Independent Examiner**|Coral Hamze|
||114 Merthyr Road|
||Abergavenny|
||Monmouthshire|
||NP7 5DF|
|**Principal Office**|4/6 York Street|
||London W1U 6QD|
|**Charity Number**|1189184|
|**HMRC Charity Number**|ZD16011|
2
**Wexford Festival Opera UK Foundation**
## **TRUSTEES' REPORT**
## **BACKGROUND**
The Charity was formed on 23 April 2020 for the purposes of “the advancement of, and the education of members of the public, in the art of opera (and other performing arts) and in particular by the contribution to the cost of opera (and other productions and concerts) performed under the auspices of Wexford Festival Opera”.
## **STRUCTURE**
The Charity was established as a Charitable Incorporated Organisation. The governing document of the Charity is available on the Charity Commission website. The Charity is registered with the Charity Commission in England and Wales (registered number 1189184).
The Charity is registered with HM Revenue & Customs as being established for charitable purposes (registered number ZD16011).
## **GOVERNANCE**
The Charity is governed by The Trustees. The Trustees who served during the period are listed on page 2. All Trustees are individuals.
The Trustees meet annually to receive the Annual Report and Financial Statements. Other meetings take place as required generally twice to three times a year.
## **MANAGEMENT**
The Trustees are supported in the day- to- day management of the Charity’s affairs by the Charity’s secretary Mr Keith Hatchick, and the executive team at Wexford Festival Opera.
## **INTERNAL CONTROL AND RISK MANAGEMENT**
The Trustees are responsible for providing reasonable assurance that:
- The Charity complies with relevant laws and regulations.
- The Charity is operating efficiently and effectively.
- The Charity’s assets are safeguarded against unauthorised use or disposition.
- Proper records are maintained, and financial information used within the Charity or for publication is reliable.
Control systems are designed to provide reasonable but no absolute assurance against material misstatement or loss. They include consideration of the Charity’s activities, review of the financial results, delegation of authority and supervision structures.
## **OBJECTIVES OF THE CHARITY**
The principal objective of the Charity is more particularly described on the Charity Commission website but is the education of members of the public in the performing art of opera and to provide financial support of opera and concerts carried on under the auspices of Wexford Festival Opera.
3
**Wexford Festival Opera UK Foundation**
## **TRUSTEES' REPORT - continued**
## **ACTIVITIES DURING THE YEAR**
The Trustees continue to support Friends and the Wexford Festival operating team with information about the Festival and activities of the Friends within the UK. A Festival Launch was held at the Ironmongers’ Hall introducing a selection from the rare works being performed at the festival, using singers and a pianist from the Wexford young singers’ academy known as The Factory. A conversation evening was held in the Autumn supported by the Irish Embassy in London. The Trustees wish to thank their fellow Trustee, Leslie McLoed Miller, who supported an evening at his home showcasing the work of the Factory. The Trustees are grateful for a new fundraising initiative proposed and supported by Chair; Dame Fiona Woolf and her friends called the Engine Room focusing on often neglected backstage activities. In the previous year, it focused on wigs and wardrobe but over this year and the next the focus will be on the lighting of productions
## **FINANCIAL REVIEW**
During the year the Charity operated in accordance with its intended purposes. Total income was £37,210 for the year (2024: £45,637) Governance costs amounted to £582 (2024: £974) and an amount of £23,000 was paid to Wexford Festival Opera (2024: £61,000) leaving a balance of £32,095 on funds carried forward (2024: £18,467).
## **TRUSTEES**
The trustees during the period and at the date of signing this report are listed below:
Dame Catherine Fiona Woolf (Chair) Mary Mullin Terry Neill John Fingleton Patrick O’Sullivan Christopher Voss Pat Butler Leslie MacLeod Miller Paul Cleary Michael Holley Clara Hamer
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The Trustees are responsible for the preparation of the financial statements of the Charity in accordance with generally accepted accounting practice in The United Kingdom including the accounting standards issued by the Accounting Standards Board and published by the Institute of Chartered Accountants in England and Wales.
The Trustees are required to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Charity and fund movements for that period. In preparing the financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Charities SORP and FRS 102.
- make judgements and estimates that are reasonable and prudent.
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees confirm that they have complied with the above requirements in preparing the financial statements.
4
Wexford Festival Op¢ra UK Foundatlon
TRUSTE, REPORT- tODtinued
STATEMENT OF TRUSTEE'S RESPONSIBILrrIE Contlnxed
Th¢ Tn 8JE responsible for keeping proper FN)oks of ac40Uttt that disclose wlth re850nable accura¢y at 8ny tirne thc
fin8n¢ial posilioll of the Charity and for ensuring that the financial staternents are prepared in accordance with accounting
staDdard5 generdlly accepted in Th¢ Ullited Kingdom. They are a180 responsible for safeguardingthe A&sets of the Charity
and hence for tsking reasonable 8tep5 for the prevention and detection of fraud and other iTre8ui4Tities.
Approval of Trllsteu Report
This report was approved by th¢ TnL8t¢¢s oll
Dame C4¢herlne Flona Woolf
**Wexford Festival Opera UK Foundation**
## **INDEPENDENT EXAMINER’S REPORT**
Simply Accountancy Ltd 114 Merthyr Road Abergavenny Monmouthshire NP7 5DF Registered in England. Company Number: 07588329 www.simply-accountancy.co.uk Phone: 0800 6123 078 E: coral@simply-accountancy.co.uk
**----- Start of picture text -----**
Section A Independent Examiner’s Report
Report to the Trustees / Members Wexford Festival Opera UK Foundation
of
On accounts for the year ended 31 December 2025
Charity no (if any) 1189184
Set out on pages Six (6)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”)
for the period ended 31 December 2025
Responsibilities and basis of As the charity's trustees, you are responsible for the preparation of the accounts in
report accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’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.
Independent examiner’s I have completed my examination. I confirm that no material matters have come to my
statement 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.
Signed:
Name: Coral Hamze fmaat
Date 26 [th] February 2026
Relevant professional Association of Accounting Technicians (AAT)
quailifcations(s) or body (if any)
Address 114 Merthyr Road, Abergavenny, Monmouthshire, NP7 5DF
Section B Disclosure N/A
**----- End of picture text -----**
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**Wexford Festival Opera UK Foundation**
## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2025**
|**2025**
**Unrestricted**
**Funds**
**£**
**Income**
Donations and legacies
37,210
Investments
-
**Total income**
37,210
**Expenditure**
Charitable activities
23,582
**Total expenditure**
23,582
**Net income for the year**
13,628
**Transfers between funds**
-
**Net movement in funds**
13,628
**Reconciliation of funds:**
Total funds brought forward
18,467
**Total funds carried forward**
32,095|**2025**
**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-|**2025**
**Total**
**Funds**
**£**
37,210
-
37,210
23,582
23,582
13,628
-
13,628
18,467
32,095|**2024**
**Total**
**Funds**
**£**
45,637
-
45,637
16,975
16,975
(16,338)
-
(16,338)
34,806
18,467|
|---|---|---|---|
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
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Wexford Festiv Opera UK Foundfitio
BALANCE SHEET
Ai at JI December 2025
otes 31 Dectmber 31 Deeember
2025
2024
Cwrrent
tkbtors
Cash at bank and in hand
13.872
18,572
7,063
11,755
Total curr¢ot assets
32,445
18,817
Creditors: 4moullt6 falllllg due withiD One year
Th¢t ¢urr¢nt M8e
350
350
Th¢ to¢a] net amets of th¢ Charity
18.467
The tot41 hnds of the Cbarity are as folloiys:
Restrlcted fullds
Unrestricted fwids
Unrestricied revenue fund5
32.095
18,467
Total ChArlty FuDds
32.095
18.467
Dame Catherine FionA Woolf
**Wexford Festival Opera UK Foundation**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1 Statement of compliance**
The Charity's financial statements have been prepared on a going concern basis and in accordance with UK GAAP (accounting standards issued by the Financial Reporting Council of the UK and promulgated by the Institute of Chartered Accountants in England and Wales). The financial statements comply with Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the UK’ (FRS 102). The financial statements have also been prepared in accordance with the recommendations of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK Charities SORP (FRS 102).
## **2 Summary of significant accounting policies**
## **(a) Basis of preparation**
The preparation of financial statements in conformity with SORP FRS 102 requires the use of certain key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date. It also requires the Trustees to exercise their judgement in the process of applying the entity’s accounting policies.
The significant accounting policies used in the preparation of the Charity's financial statements are set out below. These policies have been consistently applied to all financial years presented, unless otherwise stated.
## **(b) Going concern**
The entity meets its day-to-day working capital requirements. The Charity's forecasts and projections show that the Charity should be able to operate within its means. After making enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Therefore, these Charity's financial statements have been prepared on a going concern basis.
## **(c) Historical cost convention**
The financial statements are prepared under the historical cost convention.
## **(d) Fund accounting**
The Charity maintains various types of funds as follows:
## _**Unrestricted funds**_
This represents unrestricted income that is expendable at the discretion of the Trustees in the furtherance of the objects of the Charity.
## _**Restricted funds**_
These represent funds received which are allocated by the donor for specific purposes. They cannot be used for purposes other than those specified by the donor.
## **(e) Revenue recognition**
## _**Incoming resources**_
Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
## **(f) Foreign currencies**
Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates ruling at the balance sheet date. Transactions in foreign currencies are recorded at the exchange rates ruling at the dates of the transactions.
Gains and losses arising from foreign currency translations and on settlement of amounts receivable and payable in foreign currency are dealt with in the Statement of Financial Activities.
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**Wexford Festival Opera UK Foundation**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **2 Summary of significant accounting policies - continued**
## **(g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of generating funds are those costs incurred in attracting voluntary income.
- Charitable activities include expenditure associated with the mission of the Charity and include both the direct costs and support costs relating to these activities.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **(h) Cash and cash equivalents**
- Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are shown within borrowings in current liabilities. Cash and cash equivalents are initially measured at transaction price and subsequently measured at amortised cost.
Bank deposits which have original maturities of more than three months are not cash and cash equivalents.
## **(i) Provisions and contingencies**
## _(i) Provisions_
- Provisions are liabilities of uncertain timing or amount. Provisions are recognised when the Charity has a present legal or constructive obligation as a result of past events; it is probable that a transfer of economic benefits will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
## _(ii) Contingencies_
- Contingent liabilities, arising as a result of past events, are not recognised as a liability because it is not probable that the Charity will be required to transfer economic benefits in settlement of the obligation, or the amount cannot be reliably measured at the end of the financial year. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.
## **(j) Taxation**
The Charity is exempt from taxation due to its charitable status.
## **3 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the Charity, or any related entity.
|**4**|**Debtors**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||Sundry receivables|6,810|7,063|
|**6**|**Creditors**|**2025**
|**2024**|
|||**£**
|**£**|
||Accruals|350|350|
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**Wexford Festival Opera UK Foundation**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
- **7 Approval of financial statements**
The financial statements were approved by the Trustees on 14th May 2026
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