## **AYLESBURY OPERA** **REGISTERED CHARITY NO. 1192416 TRUSTEES’ ANNUAL REPORT AND ACCOUNTS REPORTING PERIOD: 1 AUGUST 2021 – 31 JULY 2022** AYLESBURY OPERA Trustees’ Report and Accounts For The Year Ended 31 July 2022 ## **CONTENTS** ||**Page**| |---|---| |Trustees’ Annual Report|1| |Independent Examiner’s Report|4| |Accounts|5| ## **TRUSTEES REPORT 2021-22** ## **Trustees** Philip Hayes, Chairman Jennie Bruce Gillian Liddell Neil Henderson Nick Heritage Eileen Robinson Fenella Vieceli ## **Legal Status** Aylesbury Opera is a Charitable Incorporated Organisation (‘CIO’), charity number 1192416. Aylesbury Opera became a CIO in November 2020, having previously been an unincorporated entity (with charity status from August 2015). The society was formed in 1979 and, until February 2016, was known as ‘Aylesbury Opera Group’. ## **Governing Document** The governing document is the ‘Aylesbury Opera Constitution’ (October 2021). ## **Objectives and Activities** The declared objects of the company are: ‘The advancement of the arts through the presentation of opera to the highest possible standard to the local community, and to advance the education of the public in opera and young performers in the early stages of their careers.’ ## **Public Benefit** We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. ## **Structure, governance and management** Under the charity’s constitution, at each AGM a third of elected trustees retire and are eligible for re- election up to a fixed number of three-year terms. The trustees meet formally at least four times a year. There will also be informal meetings of smaller groups of trustees and managers to discuss specific issues as the need arises. 1 ## **TRUSTEES REPORT 2021-22** ## **Operation** The company has no paid staff or premises. All other administrative work is carried out by the trustees, all volunteers. The trustees meet regularly to address the short- and medium-term activities of the group, which revolves around its ongoing programme of mounting live concerts and staged productions. The trustees work closely with the Musical Director and Stage Director, both professionals engaged in a freelance capacity, in delivering the group’s programme of public performances. ## **Activities in the year** Our 2021-22 programme comprised, thanks to the pandemic, the postponed 2020-21 programme. We performed Handel’s dramatic oratorio _Saul_ at Holy Trinity, Bledlow on 13th November 2021. This was with a strong cast and chorus, accompanied by orchestra. We had a packed house, and the church was keen to have us back for a future performance. We staged Janáček’s opera _Jenůfa_ at the Court Theatre, Tring on 4th and 5th March 2022, led by Stage Director Louise Bakker and Musical Director Kelvin Lim. This production was a huge challenge because of the complexity of the music. We had lost some of the principals since the original auditions in June 2020, but the singing was still of a high standard. It was an expensive production to mount, with a large orchestra and a significant rise in other production costs. Following _Jenůfa,_ Kelvin Lim stood down as Musical Director, having led us since September 2016 through six staged productions, four Autumn concert presentations of whole works and numerous other concerts. We thank him for his huge contribution in raising our standard of performance and inspiring us to sing repertoire in the original language. Sam Laughton has agreed to be our new MD, and he took us for a very pleasant summer social evening on 25th June 2022. After principal auditions in June, we now look forward to preparing for the 2022-23 season, with rehearsals already underway for a concert performance of Rossini’s _La Cenerentola_ on 15th October 2022 with the main production, Stravinsky’s _The Rake’s Progress_ , on 24th and 25th February 2023, directed once again by Louise Bakker. In 2021 it was with great sadness we lost both David Hayes and Geoffrey Heath. David founded the group in 1979 as Aylesbury College Opera Group and was Musical Director until 2011, effectively acting as general factotum until a committee was formed in 1999. Geoffrey was also involved from the start, often in the orchestra and regularly accompanying rehearsals at the piano, not to mention turns directing, conducting and singing (chorus and principal) and Chairman. 2 ## **TRUSTEES REPORT 2021-22** ## **Financial review** A surplus of £6,441 arose during the year (2021 £4,977). This was achieved with the support of several grants which were received in support of the productions. Unrestricted funds increased from £5,228 at 1 August 2021 to £11,669 at 31 July 2022. All restricted funds received in the year were utilised in supporting the specific productions for which they were received **.** Principal funding sources for year (see note 9) were grants received from Arts Council England, The Dvorak Society, Bledlow-cum-Saunderton Parish Council, Making Music Artists and the Aylesbury Vale Community Trust. ## Reserves policy The trustees aim to maintain the charity’s unrestricted reserves at a level equivalent to three months’ running costs ## **Declaration** Signed on behalf of the charity’s trustees. Philip Hayes ............................................... Date …[7] …[th] …[N] …[o] …[v] …[em] ……[be] …[r] …[2] …[02] …[2] … 3 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES AYLESBURY OPERA** **On accounts for the year** 31 July 2022 **Charity no 1192416 ended (if any)** **Set out on pages** 5 to 10 **Responsibilities and basis of** I report to the trustees on my examination of the accounts of the above charity **report** (“the Trust”) for the year ended 31 July 2022. 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 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 **statement** 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:** **Name:** **Date:** 7 November 2022 Neil Adshead **Relevant professional FCA. Institute of Chartered Accountants in England and Wales qualification(s) or body (if any):** **Address:** Creative Tax Reliefs Ltd Room F14A, First Floor, Bolton Arena, Arena Approach, Horwich, Bolton, BL6 6LB 4 Statement of Financial Activities for the year ended 31 July 2022 |Notes
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
3
Charitable activities
4
**Total**
**EXPENDITURE ON:**
Charitable activities
5
Support and governance costs
6
**Total**
**NET INCOME**
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD|420
4,991
6,441
5,228
11,669
Unrestricted
Funds
£
3,945
7,487
11,432
4,571|-
21,225
-
-
-
Restricted
Funds
£
21,225
-
21,225
21,225|420
26,216
6,441
5,228
11,669
Total funds
2022
£
25,170
7,487
32,657
25,796|Total funds
2021
£
6,458
1,982| |---|---|---|---|---| |||||-
8,440
3,463| |||||3,463| |||||4,977
251| ||11|||5,228| 5 |Balance Sheet
as at 31 July 2022
Notes
**CURRENT ASSETS**
Debtors
7
Cash at bank
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
9
Restricted funds
**TOTAL FUNDS**|Unrestricted
&
total funds
2022
£
2,177
10,227
12,404
735
11,669
11,669
11,669
11,669
-
11,669||Total
funds
2021
£
176
5,052| |---|---|---|---| ||||5,228
-| ||||5,228| ||||-| ||||5,228
5,228
-| ||||| ||11||5,228| The financial statements were approved by the Board of Trustees and authorised for issue on 07 November 2022 behalf by: ## _N Henderson_ ## N Henderson N Henderson (Nov 22, 2022 16:23 GMT) and were signed on its 6 Notes to the Financial Statements For the year ended 31 July 2022 ## **1. GENERAL INFORMATION** Aylesbury Opera is a charitable incorporated organization (CIO) registered with the Charity Commission in England and Wales (charity number 1192416). The registered address is Pentewal, Shootacre Lane, Princes Risborough, HP27 9EH. ## **2. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** These financial statements have been prepared in accordance with the charity’s constitution, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **Going concern** The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information in making their assessment. Based on these assessments, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. ## **Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. ## **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. For donations to be recognised the charity will have been notified of the amounts. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. ## **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. Charitable activities are support costs and costs relating to the governance of the company apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. ## **Employees** There were no employees during the period. 7 ## **Taxation** The charity is exempt from corporation tax on its charitable activities. The charity is not registered for VAT ## **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. ## **Debtors** Short term debtors are measured at transaction price, less any impairment. ## **Cash and cash equivalents** Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. ## **Creditors** Short term creditors are measured at the transaction price. 8 Notes to the Financial Statements for the year ended 31 July 2022 ## **3 DONATIONS AND LEGACIES** |Membership subscriptions
Gift aid
Donations
Grants
**COME FROM CHARITABLE ACTIVITIES**
Ticket sales
DVD sales
Programme/merchandise sales
Raffle ticket sales
Workshops
**CHARITABLE ACTIVITIES COSTS**
Production costs
**SUPPORT AND GOVERNANCE COSTS**
Accountancy||Unrestricted
funds
£
2,070
875
-
1,000
3,945
Unrestricted
funds
£
4,571||Restricted
funds
£
-
-
-
21,225
21,225
Restricted
funds
£
21,225||Total
2022
£
2,070
875
-
22,225
25,170
2022
£
5,949
225
492
577
244
7,487
Total
2022
£
25,796
2022
£
420||2021
£
820
-
938
4,700| |---|---|---|---|---|---|---|---|---| |||||||||
6,458
2021
£
1,982
-
-
-
-
1,982
2021
£
3,463
2021
£
-| |||||||7||| |||||||||| ## **4[INCOME FROM CHARITABLE ACTIVITIES ]** ## **5 CHARITABLE ACTIVITIES COSTS** ## **6 SUPPORT AND GOVERNANCE COSTS** Governance costs relating to the independent examination total £420 9 Notes to the Financial Statements – Continued for the year ended 31 July 2022 ## **7 DEBTORS** |**DEBTORS**||| |---|---|---| |Prepayments|2022
£
2,177
2,177|2021
£
177
177| ||
2|| ## **8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Accruals and deferred income|2022
£
735
735|2021
£
-| |---|---|---| |||-| **9 MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
**Restricted funds**
Arts Council England
TheDvorak Society
Bledlow-cum-Saunderton PC
Making Music ArtistsSubsidy|At
01/08/2021
£
5,228
-
-
-
-
-||Income
£
11,432
19,350
1,000
750
125
21,225|Expenditure
£
4,991
19,350
1,000
750
125
21,225|At
31/07/2022
£
11,669
-
-
-
-| |---|---|---|---|---|---| |Total funds|||||-| Arts Council England funding supported the production of 'Jenufa' (£14,750) and 'Saul' (£4,600) The Dvorak Society funding supported the production of 'Jenufa' Funding from Bledlow-cum-Saunderton PC and Making Music Artists Subsidy supported the production of 'Saul' ## **10 TRANSACTIONS WITH TRUSTEES** There were no transactions with trustees in the year (2021, none) 10 ## Aylesbury Opera Accounts for signing Final Audit Report 2022-11-22 Created: 2022-11-22 By: Rachel Lee- Suggett (rachel.lee@creativetaxreliefs.com) Status: Signed Transaction ID: CBJCHBCAABAAjeEoAXC2KmJHrHybp1FfMQU0cySW-PLy ## "Aylesbury Opera Accounts for signing" History - Document created by Rachel Lee- Suggett (rachel.lee@creativetaxreliefs.com) 2022-11-22 - 11:39:33 AM GMT- IP address: 86.140.127.114 Document emailed to neilhenderson@topmail.co.uk for signature 2022-11-22 - 11:43:42 AM GMT - Email viewed by neilhenderson@topmail.co.uk 2022-11-22 - 3:41:11 PM GMT- IP address: 86.113.44.188 - Signer neilhenderson@topmail.co.uk entered name at signing as N Henderson - 2022-11-22 - 4:23:13 PM GMT- IP address: 86.113.44.188 - Document e-signed by N Henderson (neilhenderson@topmail.co.uk) - Signature Date: 2022-11-22 - 4:23:15 PM GMT - Time Source: server- IP address: 86.113.44.188 - Document emailed to neil.adshead@creativetaxreliefs.com for signature - 2022-11-22 - 4:23:17 PM GMT Email viewed by neil.adshead@creativetaxreliefs.com 2022-11-22 - 4:47:47 PM GMT- IP address: 86.133.58.31 - Signer neil.adshead@creativetaxreliefs.com entered name at signing as Neil Adshead FCA 2022-11-22 - 4:48:25 PM GMT- IP address: 86.133.58.31 - Document e-signed by Neil Adshead FCA (neil.adshead@creativetaxreliefs.com) - Signature Date: 2022-11-22 - 4:48:27 PM GMT - Time Source: server- IP address: 86.133.58.31 ## Agreement completed. 2022-11-22 - 4:48:27 PM GMT