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2021-08-02-accounts

REGISTERED CHARITY NUMBER: 1190703

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 2 August 2021

for

Gothic Opera CIO

W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU

Gothic Opera CIO

Contents of the Financial Statements for the Year Ended 2 August 2021

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 9

Gothic Opera CIO

Report of the Trustees for the Year Ended 2 August 2021

The trustees present their report with the financial statements of the charity for the year ended 2 August 2021. The trustees have adopted the provisions of 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

Objectives and aims

The objective of the CIO is for the advancement of the art of opera by the provision of artistic projects including performances of rare works related to supernatural and/or gothic subjects.

In support of our aims and objectives, we have

The trustees have paid due regard to the Charity Commission's guidance on public benefit when reviewing their aims and objectives and planning future activities.

ACHIEVEMENT AND PERFORMANCE

In the period between August 2020 and August 2021, the work of the charity was significantly impacted by COVID-19. Gothic Opera traditionally performs on and around Halloween, which has shown to attract audience members who are not traditional opera goers. The tight UK-wide restrictions of 2020 meant that the charity had to take the difficult decision to postpone the intended fully-staged performances of Bluebeard's Castle (from summer 2020 to summer 2021) and La Nonne Sanglante (The Bloody Nun - from Halloween 2020 to Halloween 2021, which will be included in next year's report).

Despite these challenges, the charity achieved a range of successful activities:

  1. An outdoor gala event called "A Gothic Festival", which took place in the gardens of St Paul's Church in Covent Garden in the afternoon and evening of the 31 October 2020. The event was divided into three hour-long concerts, each attended by around 100 audience members. Overall, the event saw the paid participation of 16 singers, all of whom had been due to perform for Gothic Opera in the intended 2020 performances. They sang a variety of gothic-themed songs and arias to piano accompaniment, with narration by Karl Lutchmeyer.

  2. The launch of the Gothic Opera Friends scheme, which continued to grow throughout the year.

  3. A series of concerts in Kensal Green Cemetery, in collaboration with the London Month of the Dead. These concerts also provided paid performance opportunities for singers who had been cast in the 2020 projects.

  4. Work with students from Ravensbourne University on a series of animated videos, which were released online during the lockdown, and ultimately used in the live performances of Bluebeard's Castle.

  5. Bluebeard's Castle, a fully staged opera which took place in July 2021 at Porchester Hall in London. This successful production was a unique multi-disciplinary interpretation of Bartok's opera, which was created by Gothic Opera working with director Julia Mintzer and choreographer Carmine de Amicis. A brand new orchestral arrangement by Leon Haxby was played by the Halcyon Quartet and organist Thomas Ang. The conductor was Thomas Payne and there were five singers in the cast.

All activities were carried out in accordance with government advice and healthcare regulations related to COVID-19.

Despite the challenging circumstances given by COVID-19 and the need to change the plans for the season at short notice, the trustees are satisfied that the Charity worked towards and achieved its objectives - creating high-quality events that attracted new audiences to opera.

Page 1

Gothic Opera CIO

Report of the Trustees for the Year Ended 2 August 2021

FINANCIAL REVIEW

Attached is the statement of financial activities, which provides more details on the income and expenditure of the charity.

The overall income in the reporting period is £50,572. This is constituted primarily of ticket sales and donations from private donors and Gothic Opera Friends.

The overall expenditure in the reporting period is £48,955.

(In normal trading activities, the trustees would not expect the charity to end a financial year on profit. The unforeseen circumstances linked to COVID-19 restriction and the postponement of activities meant that, exceptionally, the charity has ended its financial year with a net income of £1,617. The additional funds have been redirected towards the delayed performances of Bluebeard's Castle and La Nonne Sanglante, which Gothic Opera performed in late 2021).

We currently do not have a policy on reserves.

At the time of reporting, there are no funds materially in deficit, thanks to the fundraising efforts of the charity. At present, there are no uncertainties regarding the charity continuing as a 'Going Concern'. Regular donations have been secured and plans for the 2021/22 season are underway.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Gothic Opera was established as a limited company in May 2019. The company was registered as a Charitable Incorporated Organisation (CIO) on 3 August 2020. This is the first full trading year for the company as a charity.

The charity is governed by a Constitution, as amended on 20 February 2021.

The charity is required to have a minimum of three trustees and a maximum of 12. The Constitution of the Charity establishes a quorum of three trustees for meetings and for decision making.

During the reporting period, the charity was run by four trustees, all of whom were appointed when the charity was first established. The existing trustees have been identified by invitation only based on knowledge, experience and ability to contribute to the needs and objectives of the charity.

The Governing Document establishes that new trustees can be appointed by the Board of Trustees, upon appointment, new trustees will be provided with a copy of the current version of the Constitution, a copy of the Charity's latest Trustees' Annual Report and the latest statement of accounts. Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Charity trustees. The composition of the Board of Trustees is reviewed annually to ensure trustees are able to support the work of the charity in the most effective way.

Gothic Opera relies on the work of its three Founders - Alice Usher, Charlotte Osborn and Beatrice de Larragoiti - for the running of its operations. All staff and creatives employed by Gothic Opera, including its Founders, have freelance self-employment status and are employed as required and on a project basis.

Three of Gothic Opera's trustees have declared themselves as related to the Company Founders.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1190703

Principal address

Unit F2 Beehive Yard Bath BA1 5BT

Page 2

Gothic Opera CIO

Report of the Trustees for the Year Ended 2 August 2021

Trustees

E Cesarino (appointed 3.8.20) Dr L Hirst (appointed 3.8.20) Dr D M Usher (appointed 3.8.20) L de Charbonnieres (appointed 3.8.20)

Independent Examiner

R J Lewis ACA W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU

Approved by order of the board of trustees on 27 May 2022 and signed on its behalf by:

E Cesarino - Trustee

Page 3

Independent Examiner's Report to the Trustees of Gothic Opera CIO

Independent examiner's report to the trustees of Gothic Opera CIO

I report to the charity trustees on my examination of the accounts of Gothic Opera CIO (the Trust) for the year ended 2 August 2021.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

R J Lewis ACA W R Frost & Co Riversdale Ashburton Road TOTNES Devon TQ9 5JU

31 May 2022

Page 4

Gothic Opera CIO
Statement of Financial Activities
for the Year Ended 2 August 2021
Unrestricted
fund
Notes £
INCOME AND ENDOWMENTS FROM
Donations and legacies 50,572
EXPENDITURE ON
Raising funds 1,382
Charitable activities
Artistic Projects 47,663
Total 49,045
NET INCOME 1,527
TOTAL FUNDS CARRIED FORWARD 1,527

The notes form part of these financial statements

Page 5

Gothic Opera CIO

Balance Sheet 2 August 2021

Unrestricted
fund
Notes £
FIXED ASSETS
Tangible assets 3 160
CURRENT ASSETS
Debtors 4 2,057
CREDITORS
Amounts falling due within one year 5 (690)
NET CURRENT ASSETS 1,367
TOTAL ASSETS LESS CURRENT
LIABILITIES 1,527
NET ASSETS 1,527
FUNDS 6
Unrestricted funds 1,527
TOTAL FUNDS 1,527

The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2022 and were signed on its behalf by:

D M Usher - Trustee

The notes form part of these financial statements

Page 6

Gothic Opera CIO

Notes to the Financial Statements for the Year Ended 2 August 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 20% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 2 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 2 August 2021.

continued...

Page 7

Gothic Opera CIO

Notes to the Financial Statements - continued for the Year Ended 2 August 2021

3. TANGIBLE FIXED ASSETS
Equipment
£
COST
Additions 200
DEPRECIATION
Charge for year 40
NET BOOK VALUE
At 2 August 2021 160
4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Other debtors 2,057
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Other creditors 690
6. MOVEMENT IN FUNDS
Net
movement At
in funds 2.8.21
£ £
Unrestricted funds
General fund 1,527 1,527
TOTAL FUNDS 1,527 1,527
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 50,572 (49,045) 1,527
TOTAL FUNDS 50,572 (49,045) 1,527

continued...

Page 8

Gothic Opera CIO

Notes to the Financial Statements - continued for the Year Ended 2 August 2021

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 2 August 2021.

Page 9