Friends of Opera North Trustees, report and unaudited fmancial statements for the year endcd 31 March 2022 Charity registered number 507574
Fri¢llth of OwaNorth CIMrity Tew&et&lLvmb¢r507374 Contents Ixgal and admiDistr*ive inforniatio Report of the Tntres for theyear entsj 31 MayclA 222 Independent Exsrniner's Report Statemcjjt of finart¢ial &c4ivilies Bat8nce she¢¢ Notes (fornJin8 t of the fu¢1•1 staternajts)
Fiiends of OF¢TaNorth Cknity Wistered nwnb¢r507574 Legal and administrative infonnation Th¢ Board of Trustees and Exeelltfvt Comrnittte Ed Allde Mark Armour IresigDed 16 Dec¢mir2021) Hcnrietta Jowitt Paul Lee OBE Rithard Mantle OBE PeterM8niura Rosie Millard OBE Cllr JoTMthan Pryor Irving Warnett Charlty Nymber. X17574 RegRered Offlce Howard Opera Centre, 8 Harrison Stree4 LSI 6PA Independent Exmln¢r Riehard Lewis FCC& RSM UK Tax and Accoun¢ing Lirnit4 Charts[ AC4>)uM. Two Humber Quay¥ Wellington Strcct Hull, Hill 2BN Binkerl HSBC, 33 Perk Row. Leeds LSI ILD Solldtors Wrigl¢ys LLP. 19 Cookrid8e Strrt Leed& LS2 3AG
Frientstsf Op2raNortb TDJaees' uttaudirttl fiTLqnci81 sratements Cknity reKist¢red numL%r 507574 Report of the Trnstees for the year ended 31 March 2022 The Tru5te¢5 prwat thefftr Tep)rt along Wtth Ihe fiDaDciai srallLents of the Cbarity for th¢ year eEMled 31 Marrh 2022. The final121 stceLS have been prepared itt accordance with the ac£¥I)bS wlicies sct out ort pa8¢ 8 #nd comply with th¢ Charity'5 trust dee( the Chartlies Act 2011 and Acc4)unting and Reportin8 by Charities." $tent of RoLm¢dCd Practice applicable to charities preparin8 their fmauciat statements ia aCrdanCe with the Financial Reporting Sdd applicable in the UK and R¢public of treland (FRS 102) publibhed OD 16 Juty 2014 and &$ amendgj on l Jallvary 2019. Legal & administrativ¢ infomatioD 1$ Set0 on pag¢ l. StruCtll Governanee nd MaDagemtht The Friends of Opcra North was established by Dttd of TnLSt #nd is a rcgistcxed charity. numb¢r 507574. On 4 Novemb¢r 2014. the Managing Committ¢¢ pmpo%d to th¢ membeJ5hip that Friend5 of Opern North should ¢b8n8e tts cot)stitution and that the lThses of Op¢ra North Limitd should be the [d members of thc.Mana8ing Committ¢¢, r¢named thc EXC¢1ve Como)ittee. This amendm1 duty yt¢d. Risk Mn8¥emeDt The Trustees consider th¥ adequate LSMtro]s are in place to satisfattorily the business of the Charity. Th¢ Trustees consid¢r the risks relatin8 to Covid-19, inflation and itrterw ratrs to be minimaI in relation to the bustness of the Friends of Opern North duc to th¢ very low l¢v¢l of dire¢t osts. but will continue k¢ep thi5 and other areas of risk under review. TTUSt¢e traAnS#8 As th¢ Chariry is now managed by the indiiduals who are also TtU5¢5 of Owa North Limit&J it faIl$ within an estsblishcd progrdtnnje of induthRon and tratning. In the crt of an 4)poinkn¢D( new 'fnL515 uttdergo a pro8rarnm¢ of induction. which is planned to a thorough ill5ight into th¢ activtlies of th¢ Charity. At th¢ time of 8ppoiu))nent ca¢h TTUStee rKeives an Induclion Pack whi¢h includc5 a copy of the Trust Deed, the dates of s¢hcduled roeetinw mo# r¢ceM fuwicial ststements and otb¢r appropriate lit¢ratrJre detoilin8 Cvtnts and forthcoming activtl?e6. Truste¢5 8T¢ settt Charity Commission D¢wsletter$ 2nd other published material relatin8 to 8s)vernw and le8al obligations to keep them abreast of thur r¢SnSibIlitIes. Objectives 8nd AetiTritle9 The objects of the Charity are to promot4 maint#in. fost¥ aDd advance in the North of England and parti¢ularly in Yorkshire the ¢du¢ation of the genernl publi¢ im the appreciation of opern choral works in all their aspects and relalcd orchestral w¢)rk% and to cwra with locai aJJthoritie4 educational insti110n3 and ¢ultura] societirs relating thc practic¢. presentation aDd study of opera to pYDmote better and more wtd¢spread pcrforniances of chorai a1 Orchestr works. The c.harity Lx)ntiDued to pursue its charitsble objectives during the y¢ar by providing financial y55islance towards the running and production costs of Nonh by organising opera talk& conccrts and recitals and by publicisin8 opera events in the regic. The Ex¢¢utive Conunittee has the P)W to invest th¢ assds of the Chartty in ¢ord8nce with the coostilulion of th¢ Ch2rity.
Friends of OpEANorth Ch2Tity 815red oumber 507574 Trustees, Report (continued) Acbitvements and P¢rfortnllte The Charity has g¢nerated fvndi from individval& chgTttsble foundatiODS and wrate thDors in the forni of generni donations, le8a¢ies and mernbership subscrioions. Where apprtyTiate tu relid in the fomi of gift aid h. b¢eD elaime¢L FiDandl R¢e During th¢ etsurse of the l8 12 njonths the Cb8rity h&8 seen att incre•s¢ in its donati¢)n arwj legw inrn The financial rtsults for th¢ year are sumrnarised on page 6. the Y endd 31 March 2022 a gr2nt of £140.000 wa5 m&le to OFCrn North Ltd (2021: £nil}. Reseryeg Poliey The Charity's poliey on reserv¢5 is ty retsin a smail surplws wffi¢i•it to L¥)ver th1nistrn rnsts thu$ ¢Dabling it to rnwmis¢ its SUPPOrt for Opera North's revenue 8thities. All fMThds held in iisk fire cumt bsnk cowits. Caslj and bank balaDces beld at 31 .Wrtb 2022 totsiled £166.004 (2021.. £79,467). Administr&ive Costs are being kew w A Tninimum as general office supp)rt is being Provid by Opera North l.imited. At 31 Mah 2022, free re5¢ryes trtslled £24.42] {2021: £80.413). rakin8 ac£ount of the availability of working witsl and low kvd of fjxed wsts. the TnJste¢g have concluded that the c.harity will be able to continue ty meet its finao¢i81 obliwions as thry fa]1 due for at leLSt tsvelve months from the daw of approvd of firtan¢iai sfatanaits. thJs4u¢t1. th¢5¢ fin181 slatements have E¢en prepard gn the basis that the Charity 15 a 8oing lcern. Plans for the firture Forthe time being 1¢ is slill advanws to retsin the two Charities bui admintstrntiv¢ support will be provided by Op¢r8North. This will be kept UDd¢rr¢view. Publi¢ Benent The Tru#ees are awArc of the Chariry Commission's advice on Chtrities and Public Benefft. The TTU$tees confirnj that thry bave refettryj to the guidance Wntsined in the ChgTity Lommi$sion'5 genernl guidancc on public benefii when reviewing the Clwity's Jims and objectives plannin8 fvture a¢tivities for the year. Gr are awarded to Op¢A North SUPFd)rt P8rti¢u]ar 4Cts of its work in pwticular encouraging audienctt to access unfamiliar picccs and providing 5upfK>rting tslks gnd educationa] ¢vents for fvrther in4l¢pth en888ement with the perfornieTS and wfonn8nce. Key Magetent PersonDel RemutratION The MISLets consider the Frtiard of bUStees comprlsing the key Th8nagcmtrtt pernonnel of the charity in charge of dir¢ctin8 and ¢ontrolling the charity and rujwing and operating the charity on a day-to-day basis. All trustees give of their time freely and no ¢ruse remuner2lion w&5 paid in the ye4r. Detsils of trustee rxpenses and related party trnn5ac¢ions are dis¢lostuI in Rotrs 10 and I I to the accounts.
FTieti& of OF¢f8Nortb Cknyty 1¥£r¢d nub¢r507s74 Trustees, Report (continued) Ststem¢ot of Trustees. r¢sponsilAlitiu in respect of the Tnmlees. report th¢ finaTretsl ststem¢nts The charity trustees are responsible for prepar a ThJstees' annual ret attd fuwcial statements in aceordancc applirAble law United Kingdom Accoumin8 Sthndards (Unid Kingdom Generdlly Aecepted Aecounting Pradiee). The law applieable w cknrities in England and Wai¢s requir¢s the eharity trustees to prep financi stattrnetjts for year which give a true and fair ¢W of the stat¢ of Affairs of the charity and of the incoming resources atld application ofresourw of the charity for that period. In preparitkg the fmanc1 sthternen the trustees are requirnl to: sdect suitable acwunttti8 Folicies and then app]y them wnsisttndy: observe the methods and principle in th¢ a11¢abl¢ Chertties SORP. make judgcmettts and e5timas that we rtawnabl¢ and pwdenL state whcther appliLable a¢counting standords have been foIlowe41 stsbje£t to any matrrial departures that MU be dis¢l0s¢d 2nd explain¢d in the financial swemen prepar¢ the financial statemcnts on the goll)g Conc basR5 unless it is inappropTi8t¢ to pr¢sum¢ that the charity will o)ntinue in busin8. The trustees are Tesponsible fork¢¢pin8 proper ac&)unting rr4th that disclose with reasonable accurney at arty time the fmanLTal p)sition of the charity ond w cnable them to ensure that the fin4n¢ial statements comply with the Charities 2011. the applicable Charitie5 (A¢¢ounL5 and Reports) Regulatiolls. and the provisions of the Trust deed. They are also responsible for safeguarding the w¢ts of the charity and takADg re8sonkbl¢ s¢¢ps for the pr¢v¢ntion and dekrtTon of fraud gnd Oth irre8ularities. Trnst¢t5' ¥tatemeDt Tho Trnstee$ who held office * the date of approval of thTS TnJstte5' report confirn) tha( far as they 2T¢ eAeh aw8r4 ther¢ 15 no relevant inforn]•ion of wbi¢h thc Chartty's Independeni Examintt is unaware" and ea¢h Tntst¢¢ ha5 taken ajl the step5 that they ought to have tsk¢n 8$ a Trustee to mae theD)s¢Ivc5 are of any relevant information e5rablish that the Charity's Lndyndellt Examiner is &waré of that inftimi8Lion. roved by the Tru5t¢¢S OTt /.O/•/z3 artd signed on their behalf by: Richard Mantl¢ OBE
Fry OfOrthNob ChBrity tsUD)bcr507574 INDEPENDEI¥T ExAM1R.s REPORT TO THE TRUSTEES OF FRIEI¥DS OF OPERA Tr40RTH J report to the trUee$ on my examination of the a¢wunts of Friends of Opern North ('the tharity'l for the year ended 31 March 2022, which are set outon pages 6 to 10. Respotsslbuities ADd bLsis of report As th¢ trustees of the Charity you wt respnsible forthe prep8rati of the aounts in xteordÈnLY with the requirem¢nts of the Clwities Ad 2011 (tthe 2011 Att.). I report in respect of my examin10 of the charity's a¢¢ounts carried out under seLtion 145 of the 2011 Act and in carrying out my examination I have followed ail the applicable Dirw¢ion$ given by tbe Charity Commission under seoion 14515Xb) of the 2011 Act. An indep¢nd¢nl examitt*ion does not involve gathering all the ¢videnee that would be Uire1 in an audit
nd consequently does not cover all the matters th8t an auditor cot)siders in giving their opinion on the
a¢wunts. The plannin8 2nd conduct of an audit goes tryond the limited UranCe ihat all independent exatnination can provide. Consequenily. l exprtss Th) opinion as to whether the accounts pr¢sent a 'tru¢ and fair view. and my report 15 li]nited to those slf1¢ matt&S set out irt the independ¢nt ¢x4min¢r'J statement. Independent eximtn¢r'J statemeni I havt complded my examIr]0n. l rImI that no material matters have comc to my attenlityn iti conneuion with the ¢xaminatiOn 8iVin8 me rcasoDabl¢ cause to believe that in any matcrial rcsp¢ct.' a¢¢ountitt¥ records weR not kept in rtsp¢d of the cbffj w required by s¢rfion 130 of the 2011 Ac¢ or 2. the accounts do not atrd with those Ttcords; or the accounts do not comply with the applicable wuir¢m¢tts wrnIng the forni and conteDI of aeeounts set out in the Cbarities (Aceounts and Ren$) Regulations 2008 other than any r¢quiremerti ihat the accounts giv¢ a'true a[ hir view. which is rlt a mailer wnsider¢d os Part of an independent ¢X8min8tio I have no conceins and have come xross no other m¥tt¢rs in ry)Twection with the examination to whieh attention should be drawn in this report in OTder to eMble a proprr underst8ndirtg of the aounts to be Ri6hqrd LeWIS Richard Lewis FCCA '11)¢ Association of chartcd C¢rtificd A¢cotmtants RSM UK aod Ace¢utttin¥ Limtkd. charttt A¢VnI•nts Two Humber Qy$ Wellington Street West Hull Itul 2BN 12101123
Friends of 0ra North Charity r¢gisRdAurntr 507574 Statement of finandal activities ¢lncorporuling the ineome 4vkd&rpenthre 1COUnt) forlheyear ended31 Mrzrch 2022 2022 2021 UnTestrithcd Funds Note Futtds lld Endowmats 89J76 78&24 Tot81 89J82 78.632 EIpdIre tsn: RsitJg funds Cbarirabk artivities 3.154 142220 630 2,172 Total tsptnditsre 145J74 2.80?. Nrt{expellditurey ID¢oty• 15S992} 75.830 Totsl fvDd$ brou8ht forward 13 4,583 To¢¥1 fauth rrIed forn*rd 24h21 80.413 Th¢ ¢hArity hL3 no rKol$ed gains or lo¥es other thau the net mov¢ment in funds for the Current and pr¢cedin8 The above results dertve wholly from eonlinuin8 Opmtions. Notes on pa8¢s 8 10 forni aD integra] part of the finala1 staternents.
FIietids or0raNOrth ChaTity isred ThUnLbEr507574 Balance sheet t3] MtTrch 21122 Nore 2021 Curr¢Rt uets Debtors duewithin Ca8h atband in hsTh1 3079 164fAM 3.817 79.467 169J 83.284 Cr¥Jiiors: arUnts hlliJ¥dtthjll ottyettT (145.462) (1871) NÈteurrent aM¢ts ryiresutwl total D¢tAwts 24021 80,413 Ftsftds 24A21 80.413 24321 80,413 Noies on pages 8 to 10 forn inte8r81 of the financial slaiement& 9¢ f(nan¢ial ststements wer¢ approved by the b)wd of Tn&¢es on mli/z¥ wer¢ S4¥n on its behElf by: Rlehxrd Mall Chwity R¢tred Number. 507574
Fritll(ts of OFraNorth Chsrity registered 507574 Notes (forming part ofthe financial statements) Accgunting wjlicks Acc¢wndngconvendon andbas£5 ofpreparadt>n The fmattcial stai¢m¢nts have been prepared under the historic1 Cost c<)nvention with itrms recognised at cost or tr8nsa¢titsn value unless otherwise st¢d in the reledDi rK>tes to these accounts. Tr finauGial stateEnents have been p¢rpar¢d ill aecordan¢e with the Ststemeni of RewThm¢nd¢d Practice.. Accounting and Reporting by Charities preparing their a¢wunts in accoTdan¢e with the Financial RewTrrttng Standard applicable Tn the UK and Republic of Treland (FRS 102) and the Financial Rwrtins Stsndard applicable in the United Kizygdom #Jjd Rcpubli¢ of Ir¢leJ)d IFRS 102) and the Chariues Act 20118nd UK GetheIlY Acceptsj Pn¢ttce as it applie5 from l January 2015. Golnx Concern The financial s¢at¢ments have been prepojrd on a goiDg concern b&sis. Having ¢arried out a detailtd review of the Charity's resouTce$ and the challenges it face5, the Tnstees are tIsfIed the Charity h&5 suffi¢ieni resourets ttTr achieve its obje¢tives and c4)ntinue to meet liabiliti¢s as they f811 due for at leall one year from the dute of approval of the Lceounts. R¢gu12r overhead Costs are v¢ry low and as such only low levels of Jrserves are rquired at any ne ti]ne. inflationary pressures, iDcre&sing ini¢rest r8ies and cost of living challenges not expttted to have a Si8nificant impact on the eharity's wst base b MAY have som¢ imp¥t on furure inciMn¢ g¢n¢ration. Non¢thel¢s$ the grant spend of the charity is fixed and so can respond to the level c>f incom¢ r¢¢eived in the year. Rserve$ and ¢ash levels always Consider in advance of )y #gr1 grani paymenty ensuring the Charity is left with sufficient reserves. Resourr Ineome is reL0[sed in the ye4r once the charity h&$ ¢ntiilement to the incom< li is probable that the incom¢ will be received End the amount of irKome receivable be measured reliably. Inrne 15 defetted only when the Charity ha5 10 fulfIl ¢x)nditions before becoming cntitled to it. Unrestri¢t¢d donations are crtditrd in the aewunting periLxJ in which th¢ is ret¢iv¢d. Resourcu Ey¢nded Liabilities are rttognised &$ ¢xpendittnr &$ soon as there 15 a Icgai or constructive obli8ation committing the charity to that expenditurty it is probable that s¢tti¢meDt will be required &nd the amount tsf the obligation c4n be measured r4liably. Grants payable are chaT¥ed in the year when the offer is wnveyed to the r¢¢ipient ex¢¢pt in those cases where the offcr is conditior1, 5u¢h gr8Jhts being reCOlSed as expujdintre when th¢ nditionS atta¢hing are fulfill¢d. Gr8mts offtred $ubjett to ronditions which hav¢ not been mei at the year end noted as & commitmcni but not &ccrued as expenditure. Costs of genernting fithds are those costs in¢urMI in attracfing voluntary income. Governanee costs compris¢ ail costs involving the pyblic aoUnbIlIty of the Chaw 8J)d its eompIianc¢ with regUl10Th aud good practi¢¢. Unrestridedfunds The various funds of Chanty are ullIed for&5 follows: Unrestricted fiutds are expo]d#ble at the dis¢ffetton ofthe TnJsts in furth¢ran(e of the Obj of th¢ Chan"ty. Unr¢s¢ri¢ted funds eamiark¢d for particular purp)scs by the Tnjstees tte deS1ted separate fun&. Th¢ Friends of Opera North is considernl to pass the tests set out in Paragraph I Schedule 6 Finwjre Act 201Q and therefore it meets the definihon of a tharitsble trust for LK income tax purposes. Accordingly. the Cbaity is ex¢mpt from taxatiott in 5Pt of income or tapAtal 8ains rTYed within catC8ories covrred by Part 10 Lncome Tax Act 2007 or Section 256 of the TatIOn of Chargeablc Gatns Act 1991 to the ex1¢hat such incomeor gains aTr applied exclusively to ¢harttable PUTP05C& No tsx Gharge h&5 arisen in the year.
FTietrd50fOFANorth clrity reyter¢dTtumlr507574 Notes to the accounts (copthnued) Incom¢ 2022 2021 Iktn2tlonsaDd l¢E¥l Donwors and legs9 3JA76 47.775 8,125 28,644 41 J65 8.415 GiftAidinwme 89J76 78.624 Other iMcom• Cnber inwm¢ rtlates to HFARC inrtst £6 {2021: £8) &3ptttdlture on R#idng fuDdg 2•22 2021 651 2J02 630 Evetlt ¢xtttnxs 3,154 630 ExptDdxture on ClkTltbk Aclfvltkl 2022 2021 Grnnts Awgrded to ilrtionS- OtmNorth 140,wo 2,220 2.172 14U20 2.172 2022 2021 3079 3.594 r23 3.879 3.817
Friends of Op¢r&Notth Chartfv rt8iStered number507574 Notes to the accounts (copulnued) 7 Credit(bTS." dut Thithin one year 2022 2021 knountsowtyj to OmNoTth Ltd 2.220 14W2 2,076 795 14W2 L871 Funds 2022 2021 B810JJC¢ at l April 2021 (Deficirllsurplus fortb¢y¢aT 80A13 (3&9921 4,383 75,830 Balance 31 Marth 2022 24A21 80,415 All ftmds Ire held8s<uh Edancesatxl •Itld Comrnitm¢ots There are no Capital Commithtr at 31 March 2022 tswhith provision has not been m#de (2021: £nil). io Remunention ortntte1 None of th¢ tswtees holding offi¢¢ dury the ye4r ree¢ived any payment for th¢tr service5 &$ trustees or reiJnbur5¢m¢nt of ¢xpeAtsE5 Q02].. £nd). li ReJted Party Trnnsactions Thr Truste¢s of Friends of Opera Nortll were also ttU5tec5 of 0ra North Limit&l. During thc year. Ihe Friends of Opera North rnade a rontribution w Opera North Limite4 of £140,OIK) 12021.. £ntlJ. Owa North Lilted paid cosis of £4J78 G021." £2,646) on beba]f of Fri¢D(Ls of0pd North. The baJallc¢ due to Opera North Limited at 31 Mar¢h 2022 was £143242 (2021." £795). L)DDl05 aud mernba5hip fees TDJ5tees totsjled £nil (2021.. £JOQI. Income received ioto of (era North OA beba]f of Opm h'orth was £8,500 (2021.. £nil). In¢ome received into OwaNorth ct behalf of the Friends of ceTa North was £10.691. io