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2023-11-30-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

RANDOM OPERA COMPANY LTD (A company limited by guarantee) Charity Registra�on Number: 1205003 Company Registra�on Number: 13431277

RANDOM OPERA COMPANY LIMITED

CONTENTS

Reference and Administra�ve Details 1
Trustees' Report 2 to 5
Independent Examiner's Report 5
Statement of Financial Ac�vi�es 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13

RANDOM OPERA COMPANY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Richard Tegid Jones Rebecca Madden (appointed 15 August 2023) Michael Dewis (appointed 15 August 2023) Secretary Richard Tegid Jones Charity Registra�on Number: 1205003 Company Registra�on Number: 13431277 This charity is incorporated in England Registered Office 2 Spicer Place Rugby Warwickshire CV22 7EA Independent Examiner Mr W H Robinson 261 Bilton Road Rugby CV22 7EQ Bankers Cashplus Bank PO Box 5255 Manchester M61 0QS

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RANDOM OPERA COMPANY LIMITED

TRUSTEES’ REPORT

The trustees, who are directors for the purposes of company law, present the report together with the financial statements and auditors' report of the charitable company for the period 01 July 2023 to 30 November 2023.

Change of accoun�ng period

This accoun�ng reference date for Random Opera Company Limited has been changed to 30 November, as permi�ed by the Companies Act 2006 sec�on 392. This is to enable the charity to be�er align accoun�ng periods with charitable ac�vi�es in the future. As a result, this accoun�ng period has been shortened to four months (July – November 2023); compara�ve accounts for the prior financial year are not en�rely comparable.

Objec�ves and ac�vi�es

Objects and aims

of the Arts, in par�cular but not exclusively the Art of Opera by the provision of opera�c performances for the general public.

Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Use of volunteers

�me. Without the free will gi� of �me by many people, much of the work of the charitable company would not func�on.

Structure, governance and management

Nature of governing document

Random Opera Company Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Associa�on. The company was incorporated on 01/06/2021, and became a registered charity on 03/10/2023.

Recruitment and appointment of trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Ar�cles of Associa�on. The trustees look for persons of proven integrity who share the vision and objec�ves of the charity and who have the relevant skills and experience to contribute to the running of the company. Induc�onandtrainingo�rustees Each new trustee is provided with the relevant Charity Commission publica�ons, a copy of the Ar�cles of Associa�on and at a mee�ng with the General Director fully briefed on the opera�on of the company and the responsibility of the trustees.

Organisa�onal structure

The charitable company is run by its trustees who exercise day to day control.

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RANDOM OPERA COMPANY LIMITED

TRUSTEES’ REPORT

Achievements and performance

During the period July – November 2023, the company completed our largest produc�on to date; a world premiere of the 1823 opera Elena e Gerardo by the Italian composer Marianna Bo�ni. The produc�on took place at the Temple Speech Room in Rugby, and was supported by Arts Council England. This produc�on also saw the company’s first use of a live orchestra on stage (rather than piano accompaniment). Audience feedback was overwhelmingly posi�ve, and demonstrated the value of bringing this previously unperformed work to the stage. The produc�on received both a preview ar�cle and a review in Opera Magazine.

This period also saw the company complete the process of registra�on as a charity, which enables us to access a much greater range of funding opportuni�es. The company also completed Gi� Aid registra�on.

Financial Review

Income for the period totalled £53,810, of which £30,000 related to prior year Director’s Loans from Richard Tegid Jones now wri�en off & converted into a dona�on. Expenditure totalled £27,816, of which £24,434 related to the produc�on of Elena e Gerardo. The unrestricted funds at the end of the period were £111.

Plans for future periods

Now that Random Opera Company has been successful in achieving charitable registra�on, the trustees are working to develop plans in conjunc�on with local venues, schools and other performing arts organisa�ons in the local area. This will include a new produc�on of La Serva Padrona in spring 2024, to be performed in non-tradi�onal venues such as village pubs, and plans for a larger produc�on in Autumn 2024.

More broadly, the trustees will consider the best way to deliver the charitable aims of the company, in a financially prudent manner.

Investment policy and objec�ves

include the payments made to singers, musicians and stage management, and the promo�on through social media and adver�sing of the opera produc�ons.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in par�cular those related to the opera�ons and finances of the charity, and are sa�sfied that systems and procedures are in place to mi�gate our exposure to the major risks.

Going concern

A�er making appropriate enquiries, the trustees have a reasonable expecta�on that the charity has adequate resources to con�nue in opera�onal existence for the foreseeable future. For this reason they con�nue to adopt the going concern basis in preparing the financial statements.

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RANDOM OPERA COMPANY LIMITED

TRUSTEES’ REPORT

Statement of Responsibili�es

The trustees (who are also the directors of Random Opera Company Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce), including FRS 102 "The Financial Repor�ng Standard applicable in the UK and Republic of Ireland".

company law the trustees must not approve the financial statements unless they are sa�sfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applica�on of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accoun�ng records that can disclose with reasonable accuracy at any �me the financial posi�on of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on 22 January 2023 and signed on its behalf by:

......................................... Richard Tegid Jones Trustee

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RANOOM OPERA COMPANY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RANDOM OPERA COMPANY LIMITED I roport to Ihe tharliy trutee% 011 my OXillllllliJtloii lil Ihib aiiniiilts ol the charli¥ lor Ihe perlod 01 lulv 2023 to 31) Novembtr 2023, whicli nro 4111 (Iiil oil lJi1KP$ 7 14 Rtspon$lbllltl•s Ind b4511 ol roport eompany lawl you ar ts5ponilble lor Ihi., i)rcipi1fi1Nori ol lh• oti,'ounts In iiccordanco wlth the rqulremonis ol ih• Comp•ni•s Arl ?OOG I'iliv ?fX)ts Acl'l, ￿ttSfied rnysll that ihv arcounti nl Rhi)doiYi npera I".nmphiiy I Imiied aro not fqLtlfèd to bè •udiied under Part 16 nl Ilie 2CK)li ALI diid 17fLI L¥IIRlblii lor IndepLind£%nl exdmllldiion, I reprjrt In vespect ol my eyinilnatton tsl your rlii)rlly'% dif.CDuiili carrlod oijl ijndpr $vr.￿on 145 of the Charlttés Act 20111.tht 2011 Act'l. In carryin8 Qllt my oxamlnavon I liave lollgwed the Oirecdons gl¥en by the Chirlty CommI5￿ft under secnon 14414llbl ol rhe ?01 l Arl. Ind•p•ndont t¥•mlner s #¥tement I h•ve c¢)mplied my examlnrfirlon. I ctsnhrm that no matter5 have ¢ome to my attentlon In connylon wjth the examinattnn 8ivIIiB me cèuso to bollvvp., l_ Accoun)n¥ focords woro noi kvpt in r¥spect of Random Opera Company Llmitod as rryulred by 386 ul Ihe d006 Act,, or 2. The accounts do noi accord with thosv reLurd%,' ur 3 Thp ar.¢ouniK dii not c'nmply willi Ihe accountrnff rp.qiilrpmoni% ol sectlon 396 ol the Act uthef than any requlrcmè.nt that tho ilCf.ounl4 8ive a 'irue dnd lttir vipw which ts not a matter ¢on5thred as Part ol an indepeiidenl e#atninatlon', or 4. rhe oc£ounti havLb nul bucn prLIpiired In Accordrlti¢e wlili the mothods and princbples ol the Si4tempnl nl figcoiiin>etided Pfaclice loi accounttnR and rpporrinu by ¢harltr'e% lapplicable to tharifj¢s pribpJrlnM iholf 4iccrJunis In accor(lariLv wliii ihe Flnanclal Aepoifjnm Standaid ppliublv In the UK •nd Republic ol Ireland Ir.RSln211, I hèvo no contwns Ind have ¢orne across no other matter4 In conne¢tlon wlth ihe èxamlnattnn lo whkh 4rfeiitlon should bp drAwn In thls rep()It Iii urder lo ¢nab1¢ J proper uiidvrslandlnx of th •¢coun¢i io b• ro4ch•d. Mt W H ktibin￿li 261 Blltoi'i fltsdd Rugby CV22 7EQ

RANDOM OPERA COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 01 July 2023 to 30 NOVEMBER 2023

Change of accoun�ng period

The accoun�ng reference date for Random Opera Company Limited has been changed to 30 November, as permi�ed by the Companies Act 2006 sec�on 392. This is to enable the charity to be�er align accoun�ng periods with charitable ac�vi�es in the future. As a result, this accoun�ng period has been shortened to four months (July – November 2023); compara�ve accounts for the prior financial year are not en�rely comparable.

Note
Income from:
Donations
3
Charitable Activities
4
Total Income
Expenditure on:
Charitable Activities
5
Net Income / (Expenditure)
Transfers between Funds
Net Movement in Funds
Funds Brought Forward
Funds Carried Forward
10		 07-2022
to 06-2023
Unrestricted
Restricted
Total
Total
43,500
13,491
56,991
5,275
14,189
-
14,189
11,165
57,689
13,491
71,180
16,439
(2,132)
(24,434)
(26,566)
(36,110)
55,556
(10,943)
44,613
(19,671)
(10,943)
10,943
-
-
44,613
-
44,613
(19,671)
(49,623)
-
(49,623)
(29,953)
(5,010)
-
(5,010)
(49,623)
07-2023 to 11-2023

Charity Registra�on Number: 1205003 Company Registra�on Number: 13431277

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RANDOM OPERA COMPANY LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023

Fixed Assets
Note
Tangible Assets
7
Current Assets
Cash at bank and in hand
Creditors:
Amounts falling due within one year
8
Directors Loan
9
Net Current Assets / (Liabilities)
Net Assets
Restricted Funds
Unrestricted Funds
Total Funds		 30 November 2023
30 June 2023
1,667
2,009
1,667
2,009
111
239
111
239
(558)
(14,891)
(6,230)
(36,980)
(6,677)
(51,632)
(5,010)
(49,623)
-
-
(5,010)
(49,623)
(5,010)
(49,623)

under sec�on 477 of the Companies Act 2006 rela�ng to small companies.

Directors' responsibili�es:

The members have not required the charity to obtain an audit of its accounts for the year in ques�on in accordance with sec�on 476; and

The directors acknowledge their responsibili�es for complying with the requirements of the Act with respect to accoun�ng records and the prepara�on of accounts.

companies subject to the small companies regime within Part 15 of the Companies Act 2006.

22 January 2023 and signed on their behalf by:

......................................... Richard Tegid Jones Trustee

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

1 Charity status

The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquida�on.

2 Accoun�ng policies

below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Statement of compliance

Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS102) (effec�ve 1 January 2019). They also comply with the Companies Act 2006 and Chari�es Act 2011.

Basis of prepara�on

and liabili�es are ini�ally recognised at historical cost or transac�on value unless otherwise stated in the relevant accoun�ng policy notes.

Going concern

The trustees consider that there are no material uncertain�es about the charity's ability to con�nue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has en�tlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Dona�ons and legacies

se�lement date. In the event that a dona�on is subject to condi�ons that require a level of performance by the charity before the charity is en�tled to the funds, the income is deferred and not recognised un�l either those condi�ons are fully met, or the fulfilment of those condi�ons is wholly within the control of the charity and it is probable that these condi�ons will be fulfilled in the repor�ng period.

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

Grants receivable

Grants are recognised when the charity has an en�tlement to the funds and any condi�ons linked to the grants have been met. Where performance condi�ons are a�ached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Gi�aid

Income tax recoverable in rela�on to dona�ons received under Gi� Aid or deeds of covenant is recognised at the �me of the dona�on.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon no�fica�on of the interest paid or payable by the ins�tu�on with whom the funds are deposited.

Expenditure

All expenditure is recognised once there is a legal or construc�ve obliga�on to that expenditure, it is probable se�lement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Charitable ac�vi�es

Charitable expenditure comprises those costs incurred by the charity in the delivery of its ac�vi�es and services for its beneficiaries. It includes both costs that canbe allocated directly to such ac�vi�es and those costs of an indirect nature necessary to support them.

Taxa�on

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the defini�on of a charitable company for UK corpora�on tax purposes. Accordingly, the charity is poten�ally exempt from taxa�on in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corpora�on Tax Act 2010 or Sec�on 256 of the Taxa�on of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 NOVEMBER 2023

Fixed assets cos�ng £200 or more are ini�ally recorded at cost, less any subsequent accumulated deprecia�on and subsequent accumulated impairment losses.

Deprecia�on and amor�sa�on

es�mated residual value, over their expected useful economic life as follows:

Asset class Deprecia�on method and rate Furniture & equipment Straight line basis over 5 years Stage equipment Straight line basis over 5 years Computer equipment Straight line basis over 3 years

Debtors

Prepayments are valued at the amount prepaid net of any trade discounts due.

Liabili�es

Liabili�es are recognised when there is an obliga�on at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in se�lement, and the amount of the se�lement can be es�mated reliably. Liabili�es are recognised at the amount that the company an�cipates it will pay to se�le the debtor the amount it has received as advanced payments for the goods or services it must provide.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discre�on in furtherance of the objec�ves of the charity.

donors or which have been raised by the company for par�cular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted

Financial instruments

instruments. Basic financial instruments are ini�ally recognised at transac�on value and subsequently measured at their se�lement value with the excep�on of bank loans which are subsequently measured at amor�sed cost using the effec�ve interest method.

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

3 Income from Dona�ons

4 Income from Charitable Ac�vi�es
5 Expenditure on Charitable Ac�vi�es
Donations
Donations
Directors Loans waived
Gift Aid
Grants, including capital grants
Income from Charitable Activities
Income from Productions
Theatre Tax Relief (TTR) Claims
Expenditure on Charitable Activities
Artist Costs
Artist Accommodation Costs
Music Preparation Costs
Production Costs
Marketing & Advertising
Accountancy - TTR Claim support
IT Software & Consumables
Bank Fees
Other General Admin Costs
Depreciation		 07-2022
to 06-2023
Unrestricted
Restricted
Total
Total
4,800
-
4,800
5,275
30,000
-
30,000
-
8,700
-
8,700
-
-
13,491
13,491
-
43,500
13,491
56,991
5,275
07-2023 to 11-2023
07-2022
to 06-2023
Unrestricted
Restricted
Total
Total
3,878
-
3,878
5,385
10,310
-
10,310
5,780
14,189
-
14,189
11,165
07-2023 to 11-2023
07-2022
to 06-2023
Unrestricted
Restricted
Total
Total
-
(17,675)
(17,675)
(12,528)
-
(1,656)
(1,656)
(2,142)
-
(117)
(117)
(11,410)
-
(4,373)
(4,373)
(5,582)
-
(614)
(614)
(2,117)
(1,500)
-
(1,500)
(864)
(253)
-
(253)
(568)
(38)
-
(38)
(79)
-
-
-
(107)
(342)
-
(342)
(713)
(2,132)
(24,434)
(26,566)
(36,110)
07-2023 to 11-2023

4 Income from Charitable Ac�vi�es

5 Expenditure on Charitable Ac�vi�es

6 Trustees remunera�on and expenses

During the period, no trustees received remunera�on (2022-23 £4,000 (prior to charitable registra�on)). During the period, no trustee expenses have been incurred (2022-23 £NIL).

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

7 Tangible Fixed Assets

7 Tangible Fixed Assets 7 Tangible Fixed Assets
Stage Equipment Computer Equipment Total
Cost
As at 30 June 2023 949 2,000 2,949
Additions - - -
As at 30 November 2023 949 2,000 2,949
Depreciation
As at 30 June 2023 (81) (859) (940)
Charge for period (79) (263) (342)
As at 30 November 2023 (160) (1,122) (1,282)
Net Book Value
As at 30 November 2023 789 878 1,667
As at 30 June 2023 868 1,141 2,009
8 Creditors: amounts falling due within one year
30 November 2023 30 June 2023
Accruals (558) (1,400)
Deferred Grant Income - (13,491)
(558) (14,891)

8 Creditors: amounts falling due within one year

9 Directors Loan

Company Limited, as a loan to support the cashflow of the company during its startup phase. In October 2023, subsequent to the successful registra�on of Random Opera Company as a Charitable Company, Richard Tegid Jones agreed to waive £30,000 of the loan, which has now been recognised as a dona�on. A balance of £6,230 remains payable. No interest is charged on the loan.

Opening loan Balance
Additional funds loaned
Loan amounts repaid
Loan amounts waived (recognised as income)
Loan balance at end of period		 30 November 2023
30 June 2023
36,980
31,213
250
5,767
(1,000)
-
(30,000)
-
6,230
36,980

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RANDOM OPERA COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2023

10 Funds

Unrestricted Funds
General Funds
Restricted Funds
Grant Income
Total Funds
Unrestricted Funds
General Funds
Restricted Funds
Grant Income
Total Funds		 Balance at 01
July 2023
(49,623)
-
(49,623)
Balance at 01
July 2022
(29,953)
-
(29,953)		 Incoming
Resources
57,689
13,491
71,180
Incoming
Resources
16,439
-
16,439		 Resources
Expended
Balance at 30
November 2023
(13,075)
(5,010)
(13,491)
-
(26,566)
(5,010)
Resources
Expended
Balance at 30
June 2023
(36,110)
(49,623)
-
-
(36,110)
(49,623)

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