The Nolungham Oporntk Society Charity Commission Registered Numb•r. 256983 Flnanclal Year Ended 31 Decembpr 2023 Contsnts P•ge LegalAnd Administrative Inform4tion TTUStees' Report Statement (if Financial Acuvtl GenÈr81 Income And Expenditiire Account Balance Sheet ASAI 31 December 2023 Notès To The Accounts Iiidepen(Jent Éxaminers. Repoit Flnanclal Y•ar Endgd 31 Decwnber 2023 The Notlingham OF¢ratic &￿ety [6 a registerèj charty gov￿ ty a set of rules adopted in 1958. Prlneipal address (at prn•ent) clo Mr Simon Th8obald 130 Hillgde Road Bramo)te, Notting￿rn NG9 3BD During the finanwl yearending 31 08certer 2023. the follc*Mng wore Trustee5 ofthe So•. and form￿1 ils General Committee.. Mrs Caroline Havper Mr Simgn Theobald. (Chair & Honorary Treasurer) MrAndiew Dennls, (Honorary Business Manager) Miss Rosanna Posl, (Honorary Seuetaryl Mrs Afflanda DiXon￿mi￿ Mr Frank Nicholson Mr Nick Smith Mr Dan AThnstrong Mr Zak Chailesworth Mrs Janet Wootton Mr Ri¢har(l Kish The Truslees are eleGled from the body irfnEnknrs snnualty. and are responsible for Ihe ￿*￿agement of the Sooety. They T*lve no remuneration for their ro￿ as TNdees. The tharity has rKJ empwees. Th& Trustees rewrt is on page 2. Obiocts To (wltivate the Drarnat￿ and OperaticArts and improve and educate *h& PU￿1¢ tsste in those Arts and to raise funds to be devoted to charitable purFQSe. Bankers HSBC 104 Front StreeL Amold. NO￿nghaM, NG5 7EG Indopendent Exarnin•rs Rogers Spencer, Chartered Acc¥>untanls, Newstead Hou¥e Peinam Road. Noth"ngham. NG5 1AP NODA Tlie Swety is affilialed to the Natsonal Operatic anti Dramab'cAssocialion. NODA House. 58 - 60 Llncoln Road. Peterborough. PE12RZ. IlalKing Music The Society is a'ffiliated to Making Music. 8 Hotyro&a Street, London, SE12EL PAGE 1 The T￿s￿ present their amu* report and th6 vnaudW financld statements for the year eThJecl 31 December 2023. ob￿th and Pubk Roportlng The Trnsté8s of the Noitingham Operatic Society have pavj due regard to the Charity Commission guldance on publ￿ benefft reportlng in deradwu what aclivities thè Charity has undgrtaken this year. To Fxovkle and encour4ge ad¥ancement in the education and eTrtwtalnment of men*er6 ofthe general public by gfvlng a wide rdnge of thealrKal perfOrn￿n￿ and wncerts in the Nottlngham 8rea. These indude singing. dancing and drams. To provide a wide range of Shows. induding from time to tlme those Trroty perfO￿ned To keep costs to tr£ general public as l(w as po3sible ond to grant conc*ssknns to those in rnceipt of bonefits. out of worK students, children and the aged. To offer opportunilt85 to a wide range of pwle t)oth amateur and pvofessional lo Involve thernsefves artists"caNy aThl recregtronally in nurturlng and improving their perfomiing abilrti"e5 on stage. back stage and in supportive activities. To involve children in perfomBnce4 wherever required. Wherever possible, on a yearly basis, to make monetary donalon5 to bcal or nalional charittes or ty givin9 perfom)ances to support them. To devote all monie5 rec£lved. alier Pay￿nt ofthe abov8 items, to 8n6ure qualty pthmanw also ensurww that no payment is mde to any Trustee of the Society. Re8uIts The results of the Society are detsiled on pages 5 to 7 and algo in the ntrtes to the accounts on 8 to 11. Review of the year I'd like io first of all thank everyone on the Comwmttee fortheir 9X￿p*.0nal hard worf( ¢￿er the last year, focused on finding and delivering the hNJhes1 qualty productions for the Soc*ty and for the Theatre Royal. Getb"ng hold of Th￿l0r musical releases is much toug￿rIh8n it ha$ ever been, and l am very gratefvl to ev8ryone who helps to ￿searth. find and pounce on titles frcffl right hoklers the ￿MIng they are released, so that the Society has the opportunity to perfomi shows ofvtht End quality. È were all very excoted to get the rights for Chltty Chltty Bang Bang. knowing that this wouhj bp a rg318ttraCt￿n for our audiences. Drew and I were Ix)th ￿er￿uS about the lik&ty cosls for Ihis show, as ft invofved CoM￿eX S￿nery, props, lightlng- and ofcourse the fft)sl expensive flylng we h8ve used, wth Chitty h&rself. Our earfy budget estlm*s (£168.0001 We￿ not as Curate as we would have liked, and I will explain the rEasons for these e¥tTa costs. 1888m to say thi5 every year, but th8 audience and critThl reaction wa8 one of the best wa've had, as you will have seen Ih our social media accounts. The TNstees are gratefvl to the whole PToducllon team, led byAndrew. Justine and Gaz. for manajing the staging ￿)m￿exI)￿ and also abty dealing with the demands of ¢kJuble ¢3sling and so many children on stagg. EveryorE working backstage. from Stage ManagerrEnt, Chaperones, lthrdrobe, Props. Lighbng, Wgs & Makeup provided superb techfjieal 611PPOrt to mak• th* ch8llen9ing show run SD *moothty, 2nd without Inddont were also plea*J to be able to showcaselhe Society s muslcal strengths wrfh one an¢)ther busy charity fundraislng carol singing season. irKluding sUppO￿￿j the Aif Hostess in their pre£hristrna5 musiol event The Society will L* pleased to m8ke a donation of £2,OL)O lo Dementia IUKI and we a￿. grgteful to everyone who helped with carol singing this year. and il was great to welcome b¢ick Morven. Drew will explain more abDUtthe box office pertormance IreThJs and the impact of infl8tiDn on our incrgased expendilure- aTr rn0￿ imwrtanty about luture plans to manage these trends in his report. PAGE 2 had excellent houses lor Ihe eighi bac* to back perfo￿nan￿$. taknJ over£182,000 (alnThl beatirvJ the recxjrd trThe Sound of MUS￿ and Joseph). Additional Income grew this year, mainty from pr(>Jramme sales: subscrfpts"ons, annual toll., memb8r sale¥ and wig hire totslling £23A04 (2022- £7,551.. 2019- £9.200). thrtotal income oKludin9 donatio￿S and intwest recwved was £182A94 (2022- £104.339," 2019- £171,150). V4È urrtl*d members at last yearfs AGM aboth both Increash)g rFsks and 8 plan lo restruC*u￿ to enable the Scaety to benefft fffjm Theatre Tax R81i8firrR). Men*ers will te pleaseLI to hearthat the Goyemn￿t mant3ined a ￿MMit1￿ent to TfR in the 2￿3 budget, confimiing that tha rat8 v)crea8e. to 45% ￿vJina1jY exp&cled to tsper down from 1 April 2023, wll c￿ntinUe fDr 2 years until 1 Aprll 2025. The rates ￿￿11 then taper down frDm 1 April 2025 to 35% t*ire reluming to original levels of20% trom 1 )nl 2026. lkn been Trea6ur8r slne£ 2012. and thi$18 treyond dO￿t the nK)st o)mplex set of a1￿Urtts, made nKJre cyjrnplex ty the Produclion Company's first reporting year belng 31 March 2024. In consultstion wllh our Intemal audit team and external advise￿, we have decided that producing a set of accounts foi th8 AGM woukl not L* helpful. until we have been Ihtough the Pr￿esS of claim and yc¥luc8d dr8ft accounts with Making Muslc and R￿er$ Spencer. All expeThYiture related to the show now C(Xr￿ underthe Production Company's bank account. Tecorded in a format proposed by Making Music, who will make the claim to HPJiRC on our behalf. This expendilure has been examined by our intemal audit So- an expensive, high qu￿lty prcxluction means that Ihe production rxists for Chltty were £157,30912022- £139.731.' 2019- £129.053). Note that Ihere are unclaimed royaltbes of£22.191 from 8arlw years written off to prOd￿tiOn costs. Mfith pruduGllon income at £182.294. this has resulted in a produGtion surplus of £25.085. It is tco earty lo confimi how much our su(xessful Theatre Tax Rel￿[ Gtaim will be for Chitty. as th& subrrission to HMRC will not be made until Sprfng 2024. We hope to sGe a payment c. £30,000. This will F￿￿le us with a surplus on production, I￿t thi y not be shown in Ihe xcounts unts"l yle 31 0￿mber 2024. Loo￿ng ahead So, what does the future look like forthe Scciety. as we approach another major anniversary- 100 years of perfoming at Noltingham's Theatre Royol? The tirr* for lowler} cost productions of big li¢ketl large s¢ale shows is almost Gertainly in the past. Perhaps we'd think that a box office certainty like Chltty would bring us a healthy SUTpJus. but this has been the nwt expensive show to date. We ty our bestto keep ticket pri￿S as low as we can. but Tt is no longer possible to producg a show of the quality our audiences expec* and cover these G05ts from box Offi￿ receipts. As we approach this amaztng rEntenary milestone. I'd like to thank Caroline once agaln for her relatronship buildin9 wilh both the Theatre managemenl and box office teams. The benefrt to the kniety should not be underesbmated. as we have access io dates ftjr the next six ye8fS. We thank Jonalhan Savile and team for their help. and Dave Guy and the technical teams for working tso elosely with us to ensure producb'on excellence and safety. I'm sure everyone now knL)ws, buithe hard work of Committee members has paid off once again for 2025 with Charlie and the Chocolate Faetory. wll continug our close cgntsctwith all ri9hts h￿d￿rÈ. and do our bAst to Ilnd •xciting opportunities for So• members over the next fve years. Drew wi51 lead the Committee I Production CDmpany now to actively develop plans to increase ineome anol reduce costs. wilhoul reducing qualily. This includes grants, joinl working with other SO¢￿tIeS. tundraising & sponsorship. There have been several (VP0￿nit1es to tslk to other large soc4ele$ in the UK dlI￿ng 2022, and we expectlhis to Lxjntinue In 2024_25. PAGE 3 Impact of risk on our charliabltr aetivitias The Trustees have continued b meet virtualty and in person during 2023 to review rlsks and plan for the next Ihree years of 6hows and fvndraising. The Twslees h￿e al￿ cornp￿d a more thorDugh revi*w of th8 soc￿6 Risk Register. and *fjll (levelop d*iled mitsgatkn plans ft>r IIM)se hbh r18ks throughout 21)24-S. Drvw will ￿ver0￿r key iisks in brlef." Not getiing to the most powlArl nfflv 8how relea8es In¢rea¥lffj cosls ￿6￿n9 in losses arnl d9Glinlng re5er¥es Restrlctions from tha Council Imp8Ct the Theatre Royal Not ￿CrUItIng I developkng vocal. acting and dandng talent Not developing prodLkCtion support rgsoyrces Failure to im￿eMent safe wothtng procedures We held virtual meetiros, group sessKJns and webinars 8nd have technokngy in place to 8UPPOrt this In 2024-25. The Trustees wothed with Making Mu5iG to seek clarity on how lockdown rules affect nO￿P[OfeSSIonal performing. Our whole Produ#M)n Team proviled opp￿JnI1ieS for musrc leaming. coaching and perfoTming in a Cov¥J-safe envIron￿lL The Trustees thenk all perfomxrs. musicians. Support team and suppliers for their help in making this a posilive experience for all. Htrwever, operattonal expendibjre inGreased to deliver this Covid-safe working environmenL needlng to use larger, well- ventilated rehearsal spxes. WB have adopted a pwtsnt appro8¢h to the Soriety's retserves, seeking availability of Telums in a rising interest rate environment. bul investing mainly with kKal building sooeties. The SocAety has designat￿ fvnds a¥a￿eble theref(Tr for our current and future.perfofming plans. Marknting 14lany thanks loAmanda arxl Richard for leayirtg our print and digital marketing. and to Allsopps for their support ￿th printing. Judgiry by our DJrrent tickat sates of£5.700 since we opened the box office in November. Guy8 and Doll* h8s made a good However. although th￿ is a popuL8r musical, we will need to Ynrk extra hard on marketin9. Govomaneè As our Intem81 auditors, Adele, Antony and Louise wim I'm sure r￿te. this h85 been a very ￿Tr￿feated production account with expenditure spread over several yeats. We are very grateful for their supwrL and especialty for the ao)Junting help from Adele. We will be working cloÉely owr thr• eomin9 rnonth$ wilh M¥klng Music for our submis8ion to HMRC 8Dd s￿SeQuentIV ith Melvin Bailey at RcrfJers SF￿n￿r kn guide us on reviewing our xcounts in readiness for reporting to the Charibes Commission and to Companies House. A6 Drew will explain in h1$ report, we will be revi6wsng our banking arran9emnts earty in 2024. folknving HSBC'S Ile￿610￿ to introduce bank charges fol rtharilie& We will Nrfomi member8 and supplers ofthe details of the new bank account Ss soon as this is in place. have updated our records with HMRC for GiftAd, 8nd we are progressing our daim with HMRC, alowdslde our other dalm forTheatre Tax Relief. PAGE 4 Policies The Soctety has adopted the following reseryes Fdry. The trustees will aim to ensure thac at all times, the bgvel of reseThes approproate to the level olthe Charty's &ti¥ilies. The trustees IHcfi Bu$ines6 Managerand Hon.Trea$urnrf) will complete an anrtu￿ revtew of the nature of th8 licor￿ and expenditure strearrs. and the nabjre of the re8epies in order to decide on the level of reserves required for the chty to be man8pJ afficienty. Rwpies 7MII b• held in interest-bearin9 a(xounls. miThltul of current FSCS limits. Furthgr rasefvès can be ￿hIeved through fvndr8tsino, off orants (Inc￿ding Theatre Tax aiid donaknMs. The Trustees are elected from the body of members annualty. and are responsble br the man&aen*nt of the *Kiety. Th8 Trustees meet once a month lo discuss and rnanage the Soryety's affairs. As laid down by th8 rules of Ihe Sthiety all members are fircuFated, pric*r to the AGM. with a list of the currenl Trustees and those retirtng, with requesls for tt)e nomination of any mernber for appointmgnt as a Trust￿ for the ensuing year. The eleven Trustee$ are elected at each AGM by the members ofthe Soctety. From tl•. and by these, the Honorary posts of Secretary, Busbness Manager and Treasurer are appointed for the following year. The Trusiees have the powerlo cmpt members. Sh￿b￿ there be a shortfall in the number of electe{1 merntr￿rS. ￿ernbe￿ with special skills ￿ also be givfrn specrdl tssks by thè Trustees. The TNstees meet Th￿Ththty or ffore freqventy when required to cary out the managemont of the ￿tetyS affairs, keep abreast wrth the latest legal requilements and gnsute Ihat up to date information is ojmmunltzted to the members. None of the Trustees receives remunerath)n or other benafft8 from wort done on behaf olthe Sooety. Risk RÈview The Tfustees have ca￿led out an annual revlew of Ihe slrategtc wld operational risks to which the Society is exwsed, and apptopriate controls have been eslablished to mitigate those rlsks. This includes an annLwI review of govemance b8sed on the framework wowded by the Charities Commission. Don t￿S The arnunt of donations made by Ihe Socpty, and whkh Organisatior￿ are to receive them. are selected eath year by the General Commlttee. The TrLkn" rep4ri apprDve(I by thc ttu8tee• •nd ¥vaned for on tholr bohaw by .' S Theobaki (Honorgry T Trustee PAGE 5 Not•S Unmtrfctad 2023 2022 Incom•: 2,201 2201 20.758 Investment income Income from ¢harlt8ble a¢tlvilie8 Annual production IrKome from social activities Stage Fees & maMbersh￿ sutsGrip￿onS Wg hire irthme Refunds 1.073 1.073 897 182,394 4.566 7,421 4.878 182,394 4,566 7.421 4,878 1(b,291 435 4.640 2.818 100 Tolal Incomo 202I33 2fj2￿3J 135,939 Expendlture: Costs of ¢harftable •¢tivitks G￿nts and donations payable Annual production costs Costs Df srtial activities Supp(xt costs g Hire costs DepsEciat¢on GoVernar￿ cr￿3 1,000 135,118 5105 3,030 1,364 162 3.090 135.118 5,105 3,030 1.364 162 3.090 139.731 400 6.039 1.142 196 2,460 Total exp•nditure 148,869 148￿69 149,968 Movomènl In total funds for the year 53.664 53,664 -14029 Reconclllallon of funds Total IiJnd5 brought forwar(I 187.394 187,394 201,423 Total funds carried foTwArd 241,058 241,058 187,394 PAGE 6 2023 Incom• Patrons Don8tlons Other Donattons Unclaimed creditor written off Membership Subscriptions Interest Received Income from Social ActNities g hire income Refunds Profit on Produthon 1.794 407 18 2.001 18,739 4,640 897 435 7,421 1,073 4.878 2.818 100 47276 67A15 expendlture Insuranc8 NODWM8klng Music Webslle and digilal subscriptions B8nk Charges AccountanV8 Fees Donations to Charths l Gifts Sundries DVD costs Ilthg hlre costs Depreciation Cost of Social Aetrvit LO￿ on ProductDn 536 307 810 122 1,332 122 3,090 1.000 365 179 1,364 857 2,101 1,142 5.105 400 33,440 13.751 43,677 SuTpluslDeficlt ForThe Year {PAovement In Funds) 53.664 -14,029 PAGE 7 BALANCE HEEr ber2 23 2023 2022 Foxed Assets Keyboard I ￿ stcrks 10 163 CurrentA8sèts Debtors Investrnents (Short Term Deposits} Cash & Bank 11 13 44.147 103,195 96,957 14.348 93,562 166,515 244,599 27V25 Currenl Llabllluos Creditors 12 3.541 3,541 87,194 87.194 Net CurrertAssets 241,058 187331 241,058 187.394 Resems Rest￿ Funds Unrestricted Funds 15 241,058 187,394 16 241,1)58 187￿84 These accounts are approved by the tnjsteps and signed for on the6r behalf ty '. Trustee S Theobakl (Hon￿ary Treasuieil Tnjslee Date PAGE R Charlty Infornyatk Thè Nottingham OK*fo1i¢ So¢igty 18 a ¢haiity rewkred with CIArity Commission on 3 OctobeT I￿. Accourrtlng conventloTr The financlal statements halt beM prepared in al￿rdall￿ wth th8 d￿rty3 goveming dcojment the ChaTlllesAct 2011 an Ace4)untirYJ and Rep(xUng by Chartti￿ Statement of Re(J)mmendeil Pract1￿ apFAic£ble to charllies preparK)g thetr accounts In The chafity has ta￿ advanlage of the provisK)n$ In ihe SCIRP forthartlies apptytng FRS 102 Update Bulletrn 1 notto prepwe 8 Slatewent ofcash RIY￿￿. The financral slater￿nts are prepared In sterfin9, which is the functional curr8ncy of the tharrty. Monetary anKsunts in these financial stat8m&nts arg rounded to the n&ara3t £. The financial ¥tatements have been prepared undar the historiGal cosl cOn￿bOn. The prindpal actountr.ng p)l￿e5 adopt8J are sel out below. Golng contern At the time of approvlng the financial Statem￿ the trnstees have a reasonable expectation th* the chaAty has adequate Charitsble fund$ Unrestricted funds ar8 avaiFable for use at the dwetion of the tmstees in Iurtherar￿e of theirGharitalJk obrecbve8. Restricted frjnds are subject to specific ￿nditiOnS ty do[￿r$ as to lknv tPw may bp used. The purwses and us88 of the restrfcted funds are set out in the notss to Ihe financlal statements Intoming rnsour¢o• Income from theatre ticket sales is induded in iicomiTrJ resour¢¢s in the period in which th8 ￿leVant show take6 r)lace. ResourGBs expgnded Expenditure is inctuded on an ￿rualS ba¥is. under headinos that aAqreoate all ¢0sts re18ttno to the cateoory. FIx8d aB8ets Fixed assets are Ca￿11s￿d where they can be used f(Y more than (me vear arbj have a cost of at W £250. These items are 2023 Other donatlon8 Fundtaising 2022 407 407 2,001 2,001 NOTE 2 Annual productlon Box Office S8ley PrDgraTrmfr. 8ales A Royalties {2017 prfMJuction) Accountsncy NODA 6U.iYO 22,691 2.310 2,700 23D Deferred Income 135 1,173 87.194 3,541 PAGE 11 12 NOTE 13 lnve8lff￿ (short terni depos￿} Virgln Money Chartty Dèposit BS Ccrfnmunty D8p05il 18.195 85.IXIO 8,562 85,000 2023 2022 NOTE 14 Opening Reserves Net movement in fvnds Closing ReSeTr￿s 187,394 53,664 241,058 201,423 -14,029 187A94 NOTE 15 Brought For•ard Carrled Forward Incom• Expendiwre Rgstrlctsd Funds Bequest NOTE 16 Anatysis of net 3889ts b•twwn lund8 Tangknlg Flxed Nat current Calrled Forward un￿StrICted Restrthd 241.058 241,058 241.058 241.058 NOTE 17 other Infomiatlon Trustee No remuneration was paid to thu Trustees (2022: £nil). Expenses of£7,002 were reimtrwrsed to 4 trustees 13111212022". £6.376) during the year. These at? p8yments to sUpp￿erS wherè only credit or debit ¢artl can be used. It Is becoming diftull to use theques for suppliers, and the HS8C charity bank a¢￿Unt does not havo a debit card to facilitstfr Trustees inderThity insurance is part of our Insurance c￿VerthroUgh Making 141usic. The Socw has no employee813111212022'. £niQ and therefore has no staff costs. Uttlmate control olthe Soc*ty rtes wtth the Trustees who are re¥on&ble forthe Societys affairs. As menttoned in the tN8tees ￿port through its Ir•Je body. Making Music, the Society stsrted the pnK*5S to claim Theatre Tax Relief for tts 2￿.3 product￿. This requlred us to set up a sepaT8te limited company {Noth"ngham OFeratic ProdLiclIDDs L.+iil lo m3kp Ihp rlaim with HMRC.. Fouf nl the Iruslees ale diiectors of this cr)mpany This company was incorpo￿ted in March 2023. As a result. scxne productyon expendituTe was incurred pmr to thal d*e, is not part of the TfR cJaNn. Production costs charged by Nottingham Oper8tK Productiorts Llmited to Nottingham orerati￿ Sodety were £145,131 and there is a closing amunt owed to Nollfingham Operatlc StsSety by Nottingham Operatic Produciions Llmited of £43,673. PAGE 12 13 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NOTTINGHAhl OPERATIC SOCIETY l to th8 charSty tru51886 on rny examination ofthe accounts ofthe Charity for the year 8TrJed 31 Decernber 2023, a set out on w398 6 to 12. Re8ponsibrlib8• and ￿8[8 of report As th9 c*arity's trustees you 80 respon81￿e forthg preporaoon of thg aC￿unts in accordan￿ wAlh th• rnquirements of the Charit￿ Act 20111.the Adl. I rewt In r•sFedofmy •xarninatvn ol the charitys aceounts carried under sedon 145 01 the Act and in carrying LMJt my examiftat￿n I have folkw￿1 all the appTh'cab18 0lr8ctions gwen by the Chèrity Commi55ion under Sectlon 14515llbl of th8 A Indo￿nd•￿t examkn•fs stttt•rnent I have ¢omplet8d my examination. I CLJnfim that no material matters have L¥)m8 to my attontion In u)nnecb"on wilh the exarnination givi￿ ma cause to believe that in any materi81 respect.. 1 accounting f•cord5 were Th)t kept in respect of thè ehanty as required ty sec*on 130 of thè Act.. or 2 the ar￿Unts do Mt ac￿r￿ wth thos& ￿¢L)Ill. or 3 th8 arxounts do comptybth the appllcable ￿quI￿men15 conc8mirvJ the form and contgnt of accounts set Qui In the Charities IAcLX)untS 8nd Reports) Regul8tioThs 2008 Olher than any requlrem8nl that the a¢rnurts gIV8 8 'tr￿ and fair view, whth is not ¥ matt•r considered as part of an Indapendent examination. I have rK* CA)ncerns and have coffle across no other matters in connedon with the 8xaminatK)n to vthlch 8ttenth)n sho¢Jld be drawn in tkis repDrt in orderto enab18 8 proper und8rstandlng of the a¢o)unts to te reath•Y. Melvln Bailey FCCA.DChA Rogers Spencer Chart8r8d Accountants Newstead House Pelham Road NottirKJham NG5 1AP Dat￿. 30110124 PAGE 13