REGISTERED COMPANY NUMBER: CE023373 (England and Wales) REGISTERED CHARITY NUMBER: 1190762
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 6 AUGUST 2020 TO 1 APRIL 2021
FOR
GREEN OPERA
Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
GREEN OPERA
CONTENTS OF THE FINANCIAL STATEMENTS for the Period 6 August 2020 to 1 April 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 | 8 |
| Detailed Statement of Financial Activities | 9 |
GREEN OPERA
REPORT OF THE TRUSTEES for the Period 6 August 2020 to 1 April 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 6 August 2020 to 1 April 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).
Green Opera is a sustainable theatre and educational charity. Green Opera has a vision for making music and drama in a way that is environmentally sustainable.
INCORPORATION
The charitable company was incorporated on 6 August 2020 and commenced trading on the same date.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Objects of the CIO (Charitable Incorporated organisation), for the public benefit, are:
-
To Promote and advance the arts, by establishing and maintaining an opera company to promote the understanding and appreciation of Opera, music and related arts by providing educational workshops and talks.
-
The Conservation, protection and improvement of the physical and natural environment, particularly, but not exclusively, by
A) Encouraging good practice among the arts industry in creating performances in an environmentally friendly way which demonstrates the benefits of the physical and natural environment.
B) Raising awareness by providing information in the preservation, conservation and improvement of the environment.
Significant activities
The Trustees met quarterly throughout the period, during the pandemic, the decision was made to meet biannually as operations were reduced. All meetings were minuted.
As the trustees' meetings, the trustees agree the broad strategy and areas of activity for the charity, including, reserves and risk management policies and performance.
Green Opera is a charity with a vision for making music and drama in a way that is environmentally sustainable. As an organisation taking a stand on the impact of arts on the environment, we are dedicated to inspiring others both to engage with this wonderful art-form and to take care of the world around them. We programme a variety of works from both the mainstream operatic repertoire in addition to lesser known or contemporary works. We hope to introduce the public who may be unfamiliar with opera as an art-form to the full spectrum of music and drama that it has to offer. Over the past year we premiered two new works, Eleanor Burke’s Fillu and Karolina Csáthy’s Gesualdo.
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
As a non-profit organisation, we rely on the generosity of individuals to make the creative and environmental endeavours that go hand-in-hand at Green Opera possible, especially during these uncertain times for the arts. We are grateful for donations of any size.
As a sustainable company, we are always looking to prevent waste so we also accept donations in kind of items such as costumes, sets or technical equipment that are no longer required by others.
FINANCIAL REVIEW
Financial position
Incoming resources during the first financial period were £2,398 and related to various sized donations. £1,200 of this related to income from a filming & recording fee as an arts organisation.
Total expenditure was £1,907.
The above factors resulted in a surplus of £491 for the current financial period.
Principal funding sources
Donations have been used to assist with the company's charitable aims.
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GREEN OPERA
REPORT OF THE TRUSTEES for the Period 6 August 2020 to 1 April 2021
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year.
The trust's reserve policy is to keep reserves to a minimum, whilst ensuring it has sufficient reserves to cover anticipated expenditure for a three month period.
The reserves currently stand at £491 and the Trustees are considering a number of projects to support this.
FUTURE PLANS
We are committed to educating the next generation of artists and audiences. We plan to start delivering educational workshops at schools to introduce children to opera and also encourage to take care of the world around them. We also aim to work with vocational training establishments and young artist programmes to deliver workshops in being an environmentally-friendly performer and sustainable production design.
Green Opera (GO) is working towards accurately measuring our carbon footprint; by creating and adopting an environmental policy, sustainability will be integrated into all aspects of our work
GO pledges to communicate our green choices with consistency, transparency and intention.
Since the year end we have performed various environmentally sustainable staging performances during the financial year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a charitable incorporated organisation.
It is registered as a charity with the Charity Commission and received charitable status on 6 August 2020.
Recruitment and appointment of new trustees
The trustees are elected by the members of the organisation at Board meetings. It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
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.
In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Organisational structure
There must be at least three charity trustees. If the number falls below this minimum, the remaining trustee or trustees may act only to call a meeting of the charity trustees, or appoint a new charity trustee.
The maximum number of charity trustees is 10. The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum.
Decision making
Any decision may be taken either: at a meeting of the charity trustees; or by resolution in writing or electronic form agreed by all of the charity trustees, which may comprise either a single document or several documents containing the text of the resolution in like form to each of which one or more charity trustees has signified their agreement.
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GREEN OPERA
REPORT OF THE TRUSTEES for the Period 6 August 2020 to 1 April 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
The charity trustees will make available to each new charity trustee, on or before his or her first appointment: (a) a copy of the current version of this constitution; and
(b) a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts
Key management remuneration
The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year.
Related parties
None of the Trustees receive any remuneration for their services or reimbursement of expenses. Initially when the charity was formed and before a bank account had been set up E Burke the daughter of S Burke was maintaining the receipts and payments and then transfered over the remaining balance once a bank account was functional.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE023373 (England and Wales)
Registered Charity number
1190762
Registered office
4 Leinster Road London N10 3AN
Trustees
J Fieldsend (appointed 6.8.20) S Burke (appointed 6.8.20) R A Thomas (appointed 6.8.20)
Independent Examiner
A S Bradstock Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
Approved by order of the board of trustees on 14 January 2022 and signed on its behalf by:
S Burke - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GREEN OPERA
Independent examiner's report to the trustees of Green Opera ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the period 6 August 2020 to 1 April 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
A S Bradstock Accura Accountants Ltd Langley House Park Road East Finchley London N2 8EY
14 February 2022
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GREEN OPERA
STATEMENT OF FINANCIAL ACTIVITIES for the Period 6 August 2020 to 1 April 2021
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 1,198 | |
| Other trading activities | 2 | 1,200 |
| Total | 2,398 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| General fund | 1,907 | |
| NET INCOME | 491 | |
| TOTAL FUNDS CARRIED FORWARD | 491 |
The notes form part of these financial statements
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GREEN OPERA
BALANCE SHEET 1 April 2021
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Cash at bank | 1,391 | |
| CREDITORS | ||
| Amounts falling due within one year | 4 | (900) |
| NET CURRENT ASSETS | 491 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 491 | |
| NET ASSETS | 491 | |
| FUNDS | 5 | |
| Unrestricted funds | 491 | |
| TOTAL FUNDS | 491 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 1 April 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 1 April 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 January 2022 and were signed on its behalf by:
S Burke - Trustee
The notes form part of these financial statements
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GREEN OPERA
NOTES TO THE FINANCIAL STATEMENTS for the Period 6 August 2020 to 1 April 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees are of the opinion that the charity will receive incoming funds and structure it costs over the next 12 month. They are therefore of the opinion that the charity is a going concern.
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.
Taxation
The charity is exempt from corporation 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. OTHER TRADING ACTIVITIES
Filming & recording fee
£ 1,200
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 1 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the period ended 1 April 2021.
continued...
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GREEN OPERA
NOTES TO THE FINANCIAL STATEMENTS - continued for the Period 6 August 2020 to 1 April 2021
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accrued expenses
£ 900
5. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||
|---|---|---|
| Net | ||
| movement | At | |
| in funds | 1.4.21 | |
| £ | £ | |
| Unrestricted funds | ||
| General fund | 491 | 491 |
| TOTAL FUNDS | 491 | 491 |
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 2,398 | (1,907) | 491 |
| TOTAL FUNDS | 2,398 | (1,907) | 491 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 1 April 2021 other than those noted in the trustees report.
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GREEN OPERA
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Period 6 August 2020 to 1 April 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Filming & recording fee Total incoming resources EXPENDITURE Charitable activities Advertising Subscription Studio hire Orchestral arrangement Support costs Governance costs Accountancy fees Website hosting Total resources expended Net income |
£ 1,198 1,200 |
|---|---|
| 2,398 50 50 150 750 |
|
| 1,000 900 7 |
|
| 907 | |
| 1,907 | |
| 491 |
This page does not form part of the statutory financial statements
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