**Opera’r Ddraig** (A Charitable Incorporated Organisation)
## **Trustee’s Annual Report and Financial Statements For the Year Ended 5 April 2023**
**Charity Number: 1189255**
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## **Opera’r Ddraig**
- (A Charitable Incorporated Organisation)
**Financial Statements For the Year Ended 5 April 2023**
|**Contents**|**Page**|
|---|---|
|Legal and Administrative Information|3|
|Charity Structure and Activities|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
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## **Legal and Administrative Information**
## **Reference and Administrative Information**
Charity Name: Opera’r Ddraig (A Charitable Incorporated Organisation) Registration Number: 1189255 Principal Office: 33 Eyre Street Splott Cardiff CF24 2JS
## **Trustees**
Trystan Francis Charity Trustee Jennifer Ruth Adams Charity Trustee (Chair)
## **Senior Management Team**
Jana Holesworth Artistic Director/Producer/Administrator
## **Bankers**
Lloyds Bank 25 Gresham Street London EC2V 7HN.
## **Independent Examiner**
Naomi Cummings
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## **Charity Structure and Activities**
## **Charity Structure**
Opera’r Ddraig is a small organisation with two trustees currently appointed, both of whom were involved in the organisation prior to its Charitable Incorporated Organisation (CIO) status (it was previously a student-run organisation). These trustees were appointed due to their understanding of the company and its objectives, as well as for their skills, knowledge and experience in the operatic industry, which allows for the effective administration of the CIO.
The CIO currently runs on a project-by-project basis, facilitated by Artistic Director/ Producer/Administrator, Jana Holesworth, who, like all other staff hired, works on a freelance, project-by-project basis.
## **Charity Activities and Achievements**
Opera’r Ddraig’s charitable purpose, as set out in the objects contained within the company’s Constitution, are:
To advance education in and promote public appreciation of the art of opera for the public benefit in Wales, in particular through:
- (a) public performance of innovative, thought-provoking and high-quality opera;
- (b) supporting young emerging artists by developing their operatic education and encouraging performance.
This financial year, Opera’r Ddraig produced a live tour of ‘Bhekizizwe’, an operatic monodrama by composer Robert Fokkens and Librettist Mkhululi Mabija. The piece starred emerging baritone Themba Mvula, was designed by emerging designer Brad Caleb Lee, and was directed by Benjamin Davis. The production toured to four different venues around Wales, with workshops and outreach conducted alongside each performance. The piece was previously recorded as a digital production which premiered as part of Gwyl 2021 with BBC Wales and Festival of Voice.
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## **Statement of Financial Activities**
## **Financial Review**
At the end of the financial year, ending 5 April 2023, after all payments, Opera’r Ddraig carried over a profit of **£2,169.03.** This income consisted of remaining funds from those received from ACW (£27,803.00), remaining funds from those received from Cardiff University (£2,400.00), funds from ticket sales (£1,429.26), as well as funds carried forward from the previous financial year (£6,413.37). The total remaining funds have remained in the Opera’r Ddraig bank account to covering outstanding expenses and to facilitate projects continuing into the 2023/2024 financial year.
## **Principal Funding Sources**
The principal funding sources for Opera’r Ddraig are currently by way of grants, donations and ticket sale income. This financial year (ending 5 April 2023) Opera’r Ddraig’s sources of funding income was received via prescribed grant funding from Arts Council Wales (£27,803.00), Cardiff University (£2,400.00), and via ticket sales from performances of Bhekizizwe (£1,429.26).
## **Investment Policy**
Aside from retaining a prudent amount in reserves each year, most of the charity’s funds are to be spent in the short term. Therefore, there are currently few funds for long-term investment.
## **Reserves Policy**
As Opera’r Ddraig works on a project-by-project basis, there is no official reserves policy for the CIO. However, profits made from productions are kept in reserve for future projects, in hopes of building a more substantial reserve, at which point, policy documents will be amended to include an official reserves policy.
## **Independent Examination of Accounts**
Naomi Cummings was appointed as the CIO’s independent examiner for the financial year ending 5 April 2023. Mrs. Cummings was selected in accordance to the 2011 Charities Act and is an independent person who is reasonably believed by the trustees to have the requisite ability and practical experience to carry out a competent examination of the accounts.
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|||
|---|---|
|**Statement of Financial Position as at 5 April 2023**||
|**Funds Carried Over from Previous Financial Year**||
|Lloyd’s Bank Balance as of 06/04/2022|**£6413.37**|
|**Incoming Funds**||
|Grants and Donations (ACW)|£27,803.00|
|Grants and Donations (Cardif University)|£2,400.00|
|Ticket Sales (Bhekizizwe Tour)|£1,429.26|
|**TOTAL INCOMING FUNDS**|**£31,632.26**|
|**TOTAL FUNDS**|**£38,045.63**|
|**Resources Expended**||
|Freelance Staf Fees (Bhekizizwe)|£28,391.42|
|Production Specifc Costs
(Props, Set, Costume, Insurance, PPE, Marketing)|£5,493.48|
|**TOTAL RESOURCES EXPENDED**|**£33,884.90**|
|**TOTAL FUNDS CARRIED FORWARD**|**£4,160.73**|
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## **Approved by the CIO’s Trustee’s**
The trustees declare that they have approved the trustee’s report above.
|**Name:**|Jennifer Ruth Adams|**Name:**|Trystan Francis|
|---|---|---|---|
|**Signautre:**||**Signautre:**||
|**Date:**|28/01/2023|**Date:**|28/01/2023|
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||**Charity Name**|**Charity Name**|**Charity Name**|**Charity Name**|**Charity Name**|**No (if any)**|**No (if any)**||**CC16a**|
|---|---|---|---|---|---|---|---|---|---|
||**Opera’r Ddraig**|||||**1189255**||||
||**Receipts andpayments accounts**|||||||||
||**For the period**
**from**||**Period start date**||**To**||**Period end date**|||
||||**April 6th, 2022**||||**April 5th, 2023**|||
|||||||||||
|**tion A Receipts and payments**||||||||||
||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**||**Total funds**||**Last year**|
||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**|
|**A1 Receipts**||||||||||
||**61**||**1,200**||**-**||**1,261**||**-**|
||**709**||**5,056**||**-**||**5,765**||**-**|
||**660**||**1,200**||**-**||**1,860**||**-**|
||||**22,747**||**-**||**22,747**||**-**|
||||||||**-**|||
||||||||**-**|||
||||||||**-**|||
|**_Sub total_**_(Gross income for AR) _|
**1,429**||**30,203**||**-**||**31,632**||**22,747**|
|||||||||||
|**A2 Asset and investment sales,**
**(see table).**||||||||||
||**- 0**||**- 0**||**- 0**||**-**||**- 0**|
||**- 0**||**- 0**||**- 0**||**-**||**- 0**|
|**_Sub total_**|
**- 0**||**- 0**||**- 0**||**-**||**- 0**|
|||||||||||
|**_Total receipts_ **|
**1,429**||**30,203**||**- 0**||**31,632**||**22,747**|
|||||||||||
|**A3 Payments**||||||||||
||**245**||**1,660**||**-**||**1,905**||**-**|
||**60**||**2,000**||**-**||**2,060**||**-**|
||||**2,500**||**-**||**2,500**||**-**|
||||**31**||**-**||**31**||**-**|
||||**109**||**-**||**109**||**-**|
||||**109**||**-**||**109**||**-**|
||||**84**||**-**||**84**||**-**|
||||**1,259**||**-**||**1,259**||**-**|
||||**500**||||**500**|||
||||**1,250**||**-**||**1,250**||**-**|
||||**1,700**||**-**||**1,700**||**-**|
||||**1,910**||**-**||**1,910**||**-**|
||||**1,660**||**-**||**1,660**||**-**|
||||**755**||**-**||**755**||**-**|
||||**1,705**||||**1,705**|||
||||**162**||||**162**|||
||||**2,250**||**-**||**2,250**||**-**|
||||**350**||||**350**|||
||||**1,700**||**-**||**1,700**||**-**|
||||**100**||**-**||**100**||**-**|
||||**70**||||**70**|||
||||**3050**||**-**||**3,050**||**-**|
||||**905**||||**905**|||
||||**97.21**||||**97**|||
||||**625**||||**625**|||
||||**873.60**||||**874**|||
||||**1440**||||**1,440**|||
||||**45**||||**45**|||
||||**120**||||**120**|||
||||**1250**||||**1,250**|||
||||**2900**||||**2,900**|||
||||**289.01**||||**289**|||
CCXX R1 accounts (SS)
2024-01-26
1
||||**120**||||**120**|||
|---|---|---|---|---|---|---|---|---|---|
|**_Sub total_ **|
**305**||**33,580**||**-**||**33,885**||**19,171**|
|||||||||||
|**A4 Asset and investment**
**purchases,(see table)**||||||||||
||**- 0**||**- 0**||**- 0**||**-**||**- 0**|
||**- 0**||**- 0**||**- 0**||**-**||**-**|
|**_Sub total_ **|
**- 0**||**- 0**||**- 0**||**-**||**- 0**|
|||||||||||
|**_Totalpayments_ **|
**305**||**33,580**||**- 0**||**33,885**||**19,171**|
|||||||||||
|**_Net of receipts/(payments)_ **|
**1,124**||**-**
**3,377**||**-**||**-**
**2,253**||**3,576**|
|**A5 Transfers between funds**|**- 0**||**-**||**-**||**-**||**-**|
|**A6 Cash funds lastyear end**|**2,837**||**3,576**||**-**||**6,413**||**2,837**|
|**_Cash funds thisyear end_ **|
**3,961**||**199**||**-**||**4,160**||**6,413**|
|||||||||||
|||||||||||
|**of assets and liabilities at the end of the period**||||||||||
|**Categories**|**Details**||||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**|
||||||**to nearest £**||**to nearest £**||**to nearest £**|
|**B1 Cash funds**|||||**4,021**||**139**||**-**|
||||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
||**_Total cash funds_**||||**3,961**||**199**||**-**|
||**(agree balances with receipts and payments**
**account(s))**||||**OK**||||**OK**|
||||||**Unrestricted**
**funds**||**Restricted funds**||**Endowment**
**funds**|
||**Details**||||**to nearest £**||**to nearest £**||**to nearest £**|
|**B2 Other monetary assets**|||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
||||||**-**||**-**||**-**|
|||||||||||
||**Details**||||**Fund to which asset**
**belongs**||**Cost (optional)**||**Current value**
**(optional)**|
|**B3 Investment assets**|||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
|||||||||||
||**Details**||||**Fund to which asset**
**belongs**||**Cost (optional)**||**Current value**
**(optional)**|
|**B4 Assets retained for the**
**charity’s own use**|||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
CCXX R2 accounts (SS)
2024-01-26
2
||||||||**-**||**-**|
|---|---|---|---|---|---|---|---|---|---|
||||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
||||||||**-**||**-**|
|||||||||||
||**Details**||||**Fund to which**
**liability relates**||**Amount due**
**(optional)**||**When due**
**(optional)**|
|**B5 Liabilities**|||||||**-**|||
||||||||**-**|||
||||||||**-**|||
||||||||**-**|||
||||||||**-**|||
|||||||||||
|Signed by one or two trustees on behalf
of all the trustees|**Signature**||||**Print Name**||||**Date of**
**approval**|
||||||**Jennifer Ruth Adams**||||28/01/2024|
||||||**Trystan Francis**||||28/01/2024|
|||||||||||
CCXX R3 accounts (SS)
2024-01-26
3
**Independent Examiner's Report on the Accounts**
|**Report to the trustees of**|Opera’r Ddraig|Opera’r Ddraig|Opera’r Ddraig|
|---|---|---|---|
|||||
|**On accounts for the year ended**|5 April 2023|**Charity No.**|1189255|
|||||
|**Responsibilities and basis of**
**report**|I report to the trustees on my examination of the accounts of the above charity
(CIO) for the year ended 05 April 2023.
As the charity's trustees, you are responsible for the preparation of the accounts
in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the CIO’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**
**statement**|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:
•
the accounting records were not kept in accordance with section 130 of
the Charities Act; or
•
the accounts did not accord with the accounting records; or
•
the accounts did not comply with the applicable requirements concerning
the form and content of accounts set out in the Charities (Accounts and
Reports) Regulations 2008 other than any requirement that the accounts
give a ‘true and fair’ view which is not a matter considered as part of an
independent examination.
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:**||**Date:**|30/01/2023|
|---|---|---|---|
|||||
|**Name:**|Naomi Cummings|||
|||||
|**Relevant Experience(s) and**
**Requisite Ability:**|Company Manager - Tin Shed Theatre Company|||
|||||
|**Address:**|11 Oakfield Muse|||
||Cardiff|||
||CF24 1DA|||