## |ncia||| |---|---|---| |Legal and administrative
information||01| |Chairman's
Statement||02| |fino||| |Trtustees'
report||| |(i cludi
g Strotegic report)||| |IndependentAuditor's
report||| |to the members
of English
hlational|Opera|1gr| |Consoliclated
statement
of|activities|23| |(including
income and ExpendirureAccounxl||| |Consolidated
and charity baionce sheets||24| |Consolidated
cash ffow statement||25| |Notes to the fina ncia I statements||26| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Year ended 31July|2023|| |---|---|---| |Emission|Total|CaIculated| |Type|Volume|Emissions| ||(kwh)|(Tonnes CO2e)| |Scape) (Direct)|1,597,93B|29B| |Scope 2 (Indirect|2,47I3,76l3|513| |Scope 3 (Indirect)||| |Tata
I|4,076,706|BII| |Yearended31 July2022||| |Emission|Total|CaIculated| |Type|Volume|Emissions| ||(kwh)|(Tannes CO2e)| |Scape) (Direct)|2,036,443|370| |Scope 2 (Indirect|2,143,553|414| |Scope 3 (Indirect)||| |Tata
I|4,179,ci96|| ## ## ## |Yearended31July2022||| |---|---|---| |Energy|Tata I|CaIculated| |Type|Volume|Emissions| ||(kWh)|(Tonnes CO2e)| |Electricity|2,143,553|414| |Emissions from purchased
electricity||| |Toto
I|2,143,553|414| ## |Year|ended 31July 2023|ended 31July 2023|ended 31July 2023|| |---|---|---|---|---| |Emission|||Tata
I|Calculated| |Type|||Volume|Emissions| ||||(kwh)|(Tonnes CO2e)| |Gas|Emissions||1,550,770|286| |from|combustion|ofgas||| |TransportEmissions|||47168|12| |from|combustion|offuel||| |for transport
purposes||||| |Total|||'l,597938|298| |Year|ended 31July 2022|||| |Emission|||Tata
I|Calculated| |Type|||Volume|Emissions| ||||(kwh)|(Tonnes CO2e)| |Gas|Emissions||1,986,722|358| |from|combustion|ofgas||| |TransportEmissions|||49,721|12| |from|combustion|offuel||| |for transport
purposes||||| |Tata|I||2,036, 443|| ## |Year ended 31July|2023|| |---|---|---| |Energy|Total|Calculated| |Type|Volume|Emissions| ||(kWh)|(Tonnes CO2e)| |Electncity|2,4713,768|513| |Emissions from purchased
electricity||| |Tatal|2,478,768|513| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Vl
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8| ## |as at 31Ju|ly|20|23|||||| |---|---|---|---|---|---|---|---|---| ||||||20%||2022|| |||||Note|Group
f'000|Compa
y
0000|Group
0000|Compa
y
f'OOO| |Non-Current
assets||||||||| |Intangiblehxed
assets||||11|498|498|498|498| |Ta
gible fxed assets||||12|8,716|8,716|8,295|8,295| |vestme
ts||||13|10,711|10,711|10,860|10,860| |Long term prepayments|||||375|375|362|362| |Tote)Non-Currentassets|||||20,300|20,300|20,015|20,015| |Currentassets||||||||| |Stocks|||||36|36|26|26| |Trade and other receivables||||14|8,121|8,121|5,128|5,128| |Cash a
d cash equivale|ts||||4,342|4,342|9,984|9,984| |Total currentassets|||||12;499|12,499|15,138|15,138| |Creditors
(amou
tsfalling||duewithin|o eyearl|15|(9,905)|(9,905)|(7,153)|(7,153)| |Netcurren tassets|||||2,594|2,594|7,985|7,985| |Total assets lesscurrent|liabilities||||22,894|22,894|28,000|28,000| |Creditors
(amou
ts falling||due after|~ eyear)|16|(8,895)|(8,895)|(8,730 )|(8,730)| |Total assets|||||1$,999|13,999|19,270|19,270| |The fun de of thecharity||||||||| |unrestncted
funds||||||||| |General funds|||||500|500|4, 157|4,157| |Desig
atedfu
ds|||||1,586|1,586|2,742|2,742| |Total unrestncted
funds||||18|2,086|2,086|6,899|6,899| |Restnctedi
comefu
ds
deficit||||18|542|542|713|713| |E dowme
t funds||||18|11,371|11,371|11,658|11,658| |Total funds of the Charity|||||13,999|13,999|19,270|19,270| ## ||||||||20%|2022| |---|---|---|---|---|---|---|---|---| ||ffows|||||||| |||||||Note|f.'000|f.'000| ||Cash
fro operatmg
activities|||||||| ||Net cash provided
by operatmg|activities|||||(4,538)|(3,346)| ||Cash ffows from investing
activities|||||||| ||Divide
ds,
i tercet a
d re ts from|investments||||5|05|96| ||Interest received|||||5|52|19| ||Purchase
of property,
plant and equipment|||||12|(1,108)|(9081| ||Purchase
of inta
gible assets|||||11|(49)|(2201| ||Proceeds from sale of
i vestments
ffows||||||(52)|| ||Net purchases/disposals
of investments|||||||(5,0381| ||Investment
manager
fees||||||(62)|(59)| ||Net cash provided
by mvesting|activities|||||(1,104)|(6,110)| ||Cash
fro finanan
g acuvities|||||||| ||Cash mffow from new borrowmg|||||||| ||Change
in cash and cash equivalents||m the reportmg|pen od|||(5,642)|(9,4561| ||Cash and cash equivalents
at31July 2021||||||9,984|19,440| ||Cash and cash Equivalents
at 31July||2022||||4,342|9,984| ||mcometonetcashffowfro|||||||| |A|Reconcrliauon
ofnet||operaung||activities|||| ||Netincome||||||(5,271)|(2,5371| ||Adjustmentfor|||||||| ||Net losses/(gains)
on investments||||||202|1,187| ||Depreciation
charges||||||687|637| ||Amortisation
charges||||||49|45| ||Net losses/(gains)
on disposal ofAxed assets|||||||4| ||Interest received||||||(521|(19)| ||Investment
income received||||||(115)|(96)| ||vestme
t fees payable||||||62|59| ||Decrease/(increasel
in stock||||||00)|13| ||Decrease/(increasel
in debtors||||||(3,0061|403| ||(Decreasel/increase
in creditors||||||2,916|(3,042)| ||Netcash
(usedin)/providedbyoperaung||artiwties||||(f4,538)|0,346)| |0|Analysis ofCash and Cash Equivalents|||||||| ||Cash at bank and
in hand||||||4,342|9,984| ||Total cash and cash equivalents||||||4,342|9,984| ## ## ||forthe year ended
31July|2|0|2|3||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |1|Accounting
policies (continuedj||||||||||||||||||||||||||| ||Allocation
of support costs||||||||||||||||||||||||||| ||Costs of ce trally provided
services
i
support
of chantable
activities||are allocated||||||directlytofu|||ctional||areas and|||include|||the|||relevant||||| ||proportion
ofpremises costs which compnse of rent, rates and utility||costs The basis of allocation|||||||||involves|||the use||of relative|||||headcounts|||||of| ||staff numbers
and the proportion
of site usage byexpenditure
category.||||||||||||||||||||||||||| ||Tangiblefixed
assets||||||||||||||||||||||||||| ||Tangiblefixed
assets are stated at histonc cost less accumulated
depreaation||||||and||any|impairment|||Costs||of adding|||to and|||improwng|||||the|| ||buildi
ga
dpla
tarecapitaksed
anddepreciatedovertheusefuleco|||omickfeoftheasset
Depreoati||||||||||~|has bee|||provided||||o thecostof|||||| ||such assets, excludi
gfreehold
land, atthefollowing
rates||||||||||||||||||||||||||| ||Freehold
buildi
gs
2gg straight-li
e||||||||||||||||||||||||||| ||Improveme
tstofreeholdbuildi
gs
2SS- IOSS straight
line||||||||||||||||||||||||||| ||Leasehold
property
over remaining
life ofthe|lease|||||||||||||||||||||||||| ||Machinery
and equipment
7% to 33%straight-kne||||||||||||||||||||||||||| ||Intangiblefixed
assets||||||||||||||||||||||||||| ||Intangible
fixed assets, such as licensing agreements
and software,||acquired|||from|||third||parties are||capitalised
and|||||amortised|||||over||the penod||| ||dun
g which the Compa
ydenves eco omicbe
efitfromthe
assets||||||||||||||||||||||||||| ||Amortisation
ischarged ~
a straight
k e basis over the estimated|useful|||lives||of|i|ta|gible assets|||Inta|gible assets are|||||amor||||treed||from||| ||the date they are avail
ah le for
use Amorti sat ion is provided
on
i ta||gible||assets|||soastownte off||||the cost, less any||||||residual||value,||||over||their|| ||expected
useful economic life as follows||||||||||||||||||||||||||| ||Computer
software
20% straight
line||||||||||||||||||||||||||| ||Stocks||||||||||||||||||||||||||| ||These co sist ofitems held for resale a
d arevalued
at the lowerof|cost||and estimated||||||selli
gpnce|||less|costst ~sell, which||||||is equivalent||||||t~the|| ||net realisablevalue||||||||||||||||||||||||||| ||Pension costs||||||||||||||||||||||||||| ||The company cont nb utes t~a number
of personal
and aut ~-enr ~Iment|||pension schemes for its employees||||||||||||Contnbuti
one||||are|||charged|||t~the|| ||Statement
of Finanaal Actiwties asthey become payable||||||||||||||||||||||||||| ||Leases||||||||||||||||||||||||||| ||Allleasesareoperati
g leases
and thea
nual re tale arechargedtothegtateme||||||||tof|Fina
cial Activities|||||on a straight-li|||||e|basis overthe||||||lease| ||term||||||||||||||||||||||||||| ||Investment
assets and related income||||||||||||||||||||||||||| ||Investment
assets listed on ~ recognised stock exchange, including|investment|||||and unit||||trusts, are||stated||at|bid market|||value||||Net||investment||| ||gains forthe year, both realised
and unreaksed,
are disclosed
in the|Statement|||||of Financial Act iwt|||||ice|||||||||||||||| ||Funds||||||||||||||||||||||||||| ||The company's
fu
ds consist of u restncted a
d restricted
amou ts||The||compa||||y may||use u restncted||||amounts|||at its|discretion||||||Restncted||| ||funds represe
t incomewhich
is restnctedt ~particular
purposes,
i||accorda||||cewiththe||||do or'swishes||||||||||||||||| ||Expendable
endowments
in respect offreehold
properties are expended|||in linewith|||||thedeprecation||||ofthose properties||||||All||other|||expendable|||| ||endowments
are tobe expended
within
a reasonable
time of receipt||and||the|funds|||are|treated as rest ncted||||||or unrestncted|||||depending|||||upon|| ||whether the onginal donation
stipulates
expe
diture for specific purposes,||||or|otherwise|||||Once expensed|||these funds are|||||transferred||||||to|either|| ||restricted
or u restncted
funds||||||||||||||||||||||||||| ||Taxat
ion||||||||||||||||||||||||||| ||As a chanty,
English National
Opera
is exempt from tax on income|and||gains||falling within Chapter|||||||3of|Part||II ofThe Corporation||||||||TaxAct 2010|||| ||~rs256 ofthe Taxation of Chargeable
Gains Act 1992tothe extent that|||these||are||applied|||t~its chantable||||obfects||N~tax charges|||||||have||an|sen in| ||the Chanty||||||||||||||||||||||||||| ||Theatre
Tax Relief||||||||||||||||||||||||||| ||Amountsduet
~ENOi
respectoftheTheatreTaxRelief,
isincludedi||thefi
ancialyeartowhichtheclaimrelates|||||||||||||||Theseamou|||||tsarei|||eluded|| ||within incomefrom
Chantable
Activities rather than as a tax credit|or a||reduction|||||in expenditure|||as|the|natureand||||intention||||ofTheatre Tax|||||| ||Relief is akin to government
grant income||||||||||||||||||||||||||| ## ## ## ||||||||||||20%|20%||||2022| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2|Chantable|acesstres||||||||Unrestricted|Restncted|Endowment|||Total|Tota
I| |||||||||||funds|funds||funds||funds|funds| |||||||||||f'000|E'000||f'000||f'000|E'000| ||Boxofhce|receipts and transaction|||||||fees|7,631|||||7,631|5,677| ||Theatrere|tal a||dthird||partypresentations||||4,604|||||4,604|5,568| ||Bars a
d eaten|||g services||||||2,690|||||2,690|2,556| ||Programme||sales and advertising|||||||139|||||139|100| ||Production|expl ~itati|||~|a|d sundryi||come|1,112|||||1,112|1,521| ||Theatre TaxRelief|||||||||2,295|||||2,295|1,888| |||||||||||18,471|||||18,471|17,310| ||||||||||||2023|||||2022| ||Grants|||||||||Unrestncted|Restncted|Endowment|||Total|Total| |||||||||||funds|funds||funds||funds|funds| |||||||||||f.'000|E'000||f.'000||E'000|E'000| ||Arts Cou|cil|Engla
d|||||||||||||| ||Core funding|||||||||8,405|||||8,405|12,608| ||National
Lottery|||Development||||Fund||3,820|||||3,820|| ||HM Treasury|||||||||||||||| ||Coronavirus||Job|Retention|||Scheme|||||||||108| |||||||||||12,225||||||12,716| ||||||||||||20?3|||||2022| |4|Donationsand|||legacies||||||Unrestncted|Rest ncted|E|dowme|t|Total|Tota
I| |||||||||||fu
ds|funds||fu|ds|funds|funds| |||||||||||f'000|f'000||f'000||f'000|f'000| ||Donations,|legacies, memberships|||||||and events|1,626|825||||2,451|3,296| ||Production|sponsorship||||and support|||||400||||400|253| ||||||||||||I,225||||2, 851|3,549| ||||||||||||2023|||||2022| |5|Investments|||||||||Unrestncted|Restncted|Endowment|||Tote I|Tota
I| |||||||||||tuinds|fi.in ds||tuinds||funds|funds| |||||||||||E'000|f.'000||f'000||E'000|f.'000| ||come ear||ed from||I vestments|||||50||||65|115|96| ||Bank interest|||||||||52|||||52|19| |||||||||||102|||||167|115| ## ||for|t|he|year ended|31July|2023||||| |---|---|---|---|---|---|---|---|---|---|---| ||||||||2023|||2022| |6|Costs ofch||antable|activities|Unrestncted|Designated|Restncted|Endowment|Total|Tota
I| ||||||funds|funds|funds|funds|funds|funds| ||||||f'000|f'000|f'000|f'000|f'000|f'000| ||Production||and performance||29,
I87||947||30,134|26,234| ||Educatio,||outreach|a
d information|1,026||276||1,302|1,450| ||Caten|g and other||sales|2,070||||2,070|1,837| ||Support|and propertycosts|||3,145|186|165|185|3,681|3,865| ||||||35,428|186|1,388|185|37,187|33,386| |||||||||2023|||2022| |---|---|---|---|---|---|---|---|---|---|---|---| |7|Costs of|rarsmg|fun|ds|Unrestncted|Desig|ated|Restncted|E dowment|Total|Tota
I| ||||||funds||funds|funds|funds|funds|funds| ||||||f'000||5'000|f'000|E'000|f.'000|f.'000| ||Event costs||||125|||||125|179| ||Staff and|overhead||costs|1,231|||||1,231|1,240| ||Support|and propertycosts|||151||9|8|10|178|176| ||||||1,507||||10|1,534|1,595| |||||2023|2022| |---|---|---|---|---|---| |||||Total|Tata
I| |||||f.'000|f'000| |8|Netexpenditureis
statedaftercharging.||||| ||Fees p ayah le|t~the Chant y's Auditor|||| ||Audit ofhnanaal
statements|||65|55| ||Amortisation|of intangiblehxed|assets|49|45| ||Depreciatio|oftangiblefixed|assets|687|637| ||~ire of plant|and machinery||24|49| ||Operating
leasepayments||||| ||Plant and machinery|||25|49| ||Rentals|||1,048|672| ## ## |||||||||Total 2023||||Total 2022| |---|---|---|---|---|---|---|---|---|---|---|---|---| |9|Allocation ofsupport costs|||(continued)|Ma ageme||t Ik|Premises|Gover|a ce|Total|Total| ||||||admi|istration||cost s||costs|f'000|f'000| ||Charitable
activities|||||||||||| ||Production
a
d performa||ce|||2,|671|756||56|3,483|3,633| ||Educati~,outreach
and|i|formati ~||||153|42||3|198|231| ||Costs ofraising funds||||||137|38|||178|176| ||Forthe year ended 31 July||2023|||2,961||||62|3,859|4,040| ||Forthe year ended 31July||2022|||3,197||776||67|4,040|| ||employment|||||||||||| |10|Porticulars
ofstaff|||||||||||| ||||||||||||2023|2022| ||The aggregate|||costs were|||||||4'000|f'000| ||Wages and salanes||||||||||13,744|13,376| ||Socia
I secunty costs||||||||||1,509|1,459| ||Redundancy/termination||||||||||365|123| ||Pensi ~ costs (see
ote (iii)l||||||||||311|297| ||Staff costs (see
ote (i) and|||(ii))|||||||15,929|15,255| ||||||||||||2023|2022| ||Avu age
umber of perso||s|uttpl eyed by category|||||||No|N~| ||Opera company
performi|||gikproductio|||||||232|246| ||Theatre operation||||||||||47|42| ||Finance, administration|andmarketing|||||||||46|44| ||||||||||||325|| |||||||||2023|2022| |---|---|---|---|---|---|---|---|---|---| |The numberotGraupemployeeswhose|||emoluments,||exdudmgpen|sion|||| |contnbutions
and em ployers'
nau an el msuranca,
kind were in excess off60,000was.||||but|mcludm g benefits||m|12m on the
No.|12months
N~.| |f60,000-|f69,999||||||||| |f70,000|f79,999||||||||| |f80,000|f89,999||||||||| |f90,000|f99,999||||||||| |f150,000|f159,999||||||||| |f160,000|f169,999||||||||| |f170,000- f179,999|||||||||| ## ## ## |11|Intangible
fixed assets||||| |---|---|---|---|---|---| ||||Lice ces|Software|Total| ||||E'000|0000|E'000| ||Group a
d Company||||| ||Cost||||| ||At 1August2022||166|406|572| ||Additions|||49|49| ||At 31July 2023||166|455|621| ||Depreciation||||| ||At 1August
2022||48|26|74| ||Charge forthe year||24|25|49| ||At 31July2023||72|51|123| ||N et book value:||||| ||At 31July 2023||94|404|| ||At 31July 2022||118|380|498| |12|Tangiblefixed
assets|Freehold|Leasehold|M achinery8r|Total| |||Land
Er|Land@|Equipment|| |||Buildings
f'000|Bu ildin gs
f'000|E'000|T.'000| ||Group and Company||||| ||Cost||||| ||AtlAugust2022|15,749|348|3,631|19,728| ||Additi ~ s|406||702|1,108| ||Disposa
Is||||| ||At 31July 2023|16,155|348|4,333|20,836| ||Depreciation||||| ||At1 August 2022|8,523|274|2,636|11,433| ||Chargefortheyear|340|6|341|687| ||Disposals||||| ||At 31July 2023|8,863|280|2,977|12,120| ||Net bookvalue:||||| ||At 31July 2023|7,292||1,336|8,716| ||At 31July 2022|7,226||995|8,295| ## ## |13|Investments|Investments||||||| |---|---|---|---|---|---|---|---|---| |A|FixedAssetlnvestmentsatcostorvaluation||Equities|Bonds|Alter|atives|Crisis
I|Total| |||||||ErOther|portfoli ~|| ||At 1August 2022||5,632|2,498||2,235|495|10,860| ||Additi ~ s||2,350|2,416||1,613|(6,379)|| ||Valuatio
changes||259|(66)||(197)||(4)| ||Investment
income||||||115|115| ||Investment
management|fees|||||(62)|(62)| ||Disposals||(2,777)|(2,145)||(1,476)|6,200|(198)| ||At31 July2023||5,464|2,703||2,175|369|10,711| ||Carrying
value|||||||| ||At31 July2023||5,464|2,703||2,175|369|10,711| ||At31 July2022||5,632|'2,498||2,735|495|10,860| ## |Investment|in subsidiary|in subsidiary| |---|---|---| |Cost||| |At 31July2023a||d 31July2022| ## ||forth|e y|ea|r|en|d|ed|31July 2|023|||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||20%||2022|| |14|Debtors||||||||Group|Company|Group|Company| ||||||||||E'000|f.'000|E'000|f.'000| ||Amounts
falling due within||||one year:|||||||| ||Trade debtors||||||||213|213|1,029|1,029| ||Other debtors||||||||1,271|1,271|674|674| ||Theatre Tax Relief receivable||||||||4,181|4,181|2, 018|2,018| ||Grants receivable||||||||1,241|1,241||| ||Prepayments|and accrued|||income||||1,215|1,215|I,407|1,407| ||||||||||8,121|8,121|5,128|5,128| ||Costs offuture|productions|||included|within||P repayments:||||| ||Opening
within
Iyear||||||||96|96|288|288| ||Opening
after|more than||Iyear|||||5|5|27|27| ||||||||||101|101|315|| ||||||||||20%||2022|| |15|Creditars. amounts||fallmg||duewithm||oneyear||Group|Company|Group|Company| ||||||||||E'000|f'000|E'000|f'000| ||Trade creditors||||||||290|290|387|387| ||Other creditors||||||||6,295|6,295|3,935|3,935| ||Taxation and soaal secunty||||||||326|326|376|376| ||Accrual s and deferred||income||||||2,994|2,964|2,455|2,425| ||Amounts
due|to subsidiaryundertaking||||||||30||30| ||||||||||9,905|'2,905|7,153|7,153| |0/ithi
accruals a|0/ithi
accruals a|d deferred|i come is i eluded thefollowi|g amou|t of deferred|i come relati|gto box ofhce receipts a|gto box ofhce receipts a|d other income| |---|---|---|---|---|---|---|---|---|---| |received|i
adva|ce|||||||| |Brought|forward||||151||151|159|159| |Released|in the year||||(151)||(I51)|(159)|(159)| |Received|in the year||||358||358|151|151| |Cerned|forward||||358||358|151|151| ||||||||20%||2022|| |---|---|---|---|---|---|---|---|---|---|---| |16|Creditars|duein||more|than|aneyear|Group|Company|Group|Company| ||||||||E'000|f.'000|E'000|f.'000| |||lvcM|A.||||R AOA|R ROA|R 7xn|A 730| ||||||||8,895|8,895|8,730|8,730| ## ## |17|Analysis ofnetassetsbetween|Analysis ofnetassetsbetween|funds|Unrestncted
funds|Restricted
funds|E dowme
t
funds|Total
funds| |---|---|---|---|---|---|---|---| |||||5'000|f'000|5'000|f'000| ||Consolidated
fund bala|ces'|||||| ||No
curre t assets|||8,760|169|11,371|20,300| ||Current assets|||12,126|373||12,499| ||Current
liabihties|||(9,905)|||(9,905)| ||N on Current
h abilities|||(8,895)|||(8,895)| ||Total net assets as at 31|July|2023|2,086|542|11,371|13,999| ||Non-current
assets|||8,053|342|11,620|20,015| ||Current assets|||14,729|371|38|15,138| ||Current
liabihties|||(7,153)|||(7,153)| ||Non Current
habilities|||(8,730)|||(8,730)| ||Total net assets as at31|July|2022|6,899|713|11,658|19,270| ||||MQ||oa|O
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Ol| ||||||||||||||||||||||||||||||||||0Z| ## |forthe year ended|31July||2023||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Movem ent in funds (continued)|||||||||||||||||||| |Summayy
(continrfed)|||||||||||||||||||| |The transfer to Capital Reserve fund represents
hued asset addrtions|||dunng the penod||||||||||||||||| |Designated
funds|||||||||||||||||||| |Maintenance
Funds|||||||||||||||||||| |Maintenancefunds
are designated
for specficfuture
prolectsto||maintain
and||enhancethe||||fabnc ofthe|||London||Coliseum||based||on|a long|term| |maintenance
plan forthe building|||||||||||||||||||| |Capital ReserveFunds|||||||||||||||||||| |The Capital Reserve represents
the net book|value of Fixed assets|funded
from||EN0 s unrest|||net ed||fun ds||||||||||| |Strategic Investment|||||||||||||||||||| |The Strategic Investment
fun d represents
funds allocated to strategic protects||||to be earned||||out|in future||years|These||protects||may be artistic,|||| |operational
or capital
in nature
but are anti apated to enh ance the|||public beneht||or efficiency|||of|the Company||||||||||| |Reetnated
income
funds|||||||||||||||||||| |London Coliseum
Redevelopment|||||||||||||||||||| |An amount
off6,000 is carried fone ard on this fund, representing||the book value|||of properties
acquired||||||||||||||| |London Coliseum
Restoration|||||||||||||||||||| |The balance isto be utilised
in respect ofthe|restoration
ofthe London Coliseum||||||||||||||||||| |Production
Gprafect Support|||||||||||||||||||| |Funding
is received fmm time to time
byway|of specrfic donations|and grants||in|respect|of|a|variety of||artistic and infrastructural|||||||prolects||in| |furtherance
ofthe cam pony's
ch anta hie aim|s including
education||and outreach||work|Th ese||fun|de are|treated||as rest||~cted income||||on receipt|| |Income is denved
from vanous
indwiduals,
educational
trusts
and||foundations|||||||||||||||||| |ACE Capital
Fu
d|||||||||||||||||||| |ENO has received support
from ACE in respect of capital investment|||The fund|represents||the||proportion|||ofthe|net book value||||of|assets purchased||| |funded
by the grant and is am ortised
in line|with the depreciation|policies
in respect ofthese||||||assets|||||||||||| |Coro
avirus Job Retrsstro
Scheme|||||||||||||||||||| |This fund presents the grant received from
HM Treasury to cover
sal aces paid by EN0||eligible sal ance|||under the||Coronawrus|||Job Retention||||scheme||and|the related||| |Endowment
funds (ercpendable)|||||||||||||||||||| ## ## |||||||2023||2022|| |---|---|---|---|---|---|---|---|---|---| ||five||||||||| |||||||Land B|Other|Land B|Other| |||||||Buildings||Buildings|| |||||||E'000|f'000|E'000|f'000| |Operating|leaseswhich|||expire:|||||| |not later than oneyear||||||954|25|715|46| |later than|o|eyear a|d|not latertha|fiveyears|1,802||1,794|16| |later than||year||||108||308|| |||||||2,864||2,817|62| ## |||2023|2022| |---|---|---|---| |The assets and liabilities cfthe subsidiary|as at 31July 2023were:||| |Fixed assets||8,966|44,822| |Current assets||2|2| |Current
liabilities||(64,392)|(60,985)| |Total net assets||(55,4241|(16,162)| ## ||||2023|2022| |---|---|---|---|---| |The assets and liabilities|ofthe subsidiary|as at 31July 2023were||| |Current assets|||30,371|30,371| |Current
liabilities|||(30,370)|(30,370)| |Total net assets||||| ## ## ## |24|Analysis ofchanges
in Netfunds|Analysis ofchanges
in Netfunds|At|31July 2022
f.'000|Cashffows
E'000|Othernon
cash
changes
f.'000|Othernon
cash
changes
f.'000|At|31July 2023
E'000| |---|---|---|---|---|---|---|---|---|---| ||Cash and Cash Equivalents||||||||| ||Cash|||9,984|(5,641)||||4,343| ||Borrowings||||||||| ||Debt due after oneyear|||(8,7301|||(165)||(8,895)| ||Totalnet (debts) /assets|asat31July 2022||1,254|(5,641)||(165)||(4,552)|