Friends of Opera North Trustees, report and unaudited fmancial statements for the year ended 31 March 2023 Charity registered number 507574
Frid$OforN0rth Cbayity Tegist¢T&I numbff 507574 Contents Legal and admini*r4tive infornlation R¢port of the Trustees for the Y elld 31 MaTch 2013 lud¢p¢ndent Examiner's Report Ststcment of financial activiti&S Balance shcet Notes (forming part of the ftnaDciai statcmcnts)
FTi¢nds ofOmNoTth TrUseS. ter unaudit¢d fjnaucial statettents (Tharityrtwsttted Thumb¢r 5Q7574 Legal and admlnlstrative informAtion The BD&rd of Trusttes and Eieeudve Cojllmlttet EdAnderson HcnriettaJOitt Paul Lee OBE Sir RichaTd Mantle OBE Peter ManiLLfd Rosie Millard OBE Cllr Jonathen Pryor lrying Warnett to l DCE*r2D23 Ch4r(ty Number: 507574 Re$(tred Offiet loward oPa Centr¢, 8 Harrison Stycrf LSI 6PA Independent Eiamlner Luey Robson, RSM UK T&x and AcunI1ng Limittsl Chartered ACOWntan I Si James G8t4 N¢wAstl¢ Upon Tyrt4 NEI 4AD HSBC, 33 Park Row. Ixeds LSI ILD Solldto Wrigl¢y$ LLP, 19 Cookrid8¢ Str¢¢4 Lttd4 LS2 3AG
FricniLsof Optsa Nonh TnKs' aod Wlld]led financial Statellts Chrity rysta¥J ttthnbLY 5(17574 Report of the Trustees for Ihe year ended 31 March 2023 Thc Trustees prcscnt th¢ir report Otsg with the financial $e4ntlS of the Charity for the year tndcd 31 March 2023. The fll)ancial stztements hav¢ been prwed in a¢cDYdanec with the aecounting policies set out on page 8 and ¢omply with the Charity's trust deaL the ChaTiti¢s Act 2011 and A¢¢ounting and Rq)orting by Charitics: Ststemeni of R¢commendcd Pncticc appIlble to Clwities prtP3ring their fJThaneial statements in accoidance with th¢ Finaneia] Rep)rring Standard applicable in the UK and Republic of Ireland (FRS 102) published on l6 Ju]y 2014 and as arncnded on l January 2019. Legal & /drniTListrativc infornlaiion is set out On P2ge l. StructUT4 C¥overnan¢¢ And MtngemeDt 'Ihe friends of Opcr4 North was estsblishcd by Deal of TTll aDd is a re8i#e7tsJ e]wity, 507574. On 4 Novembcr 2014, the Managing Cotnmittee proposuj to the membcrship Frierth of Op¢ra North should change its con51itution arld that th¢ of 03 North Limited should be the sole membcrs of thc Mawing Committe4 renarn the ExCllY¢ Commiltee. This arneent was duly acccptoj. Rtsk TrfAnAgalleDt The Trugttts consider that lequate controls in place to conthict 15f10n7Y the bustDW of the charity. The Trustees ¢on5ider tbe risks T¢lating ¢0 inflation and iL)t¢rest rstcs to be rninimal in relation to th¢ business of the fri¢n¢Ls of Opera North du¢ ts th¢ wy low level of dirrft eost& but will continue to kccp thi¥ and other areas of risk und¢r review. Trust¢¢ tring A5 the Charity is now by the individuds who are also Tntstee5 of (¢A North Limited it falls within estabLiSh pro8T8mrne of inducrion and trainin8. In the ev¢nt of an appointm&i( new TN#e¢s undcr80 a programme of induetion, which is planned to allow a thOrgh insigh¢ iDto the activities of the chIly. At ihe time of appointment ¢ach Trustee receives an Indu¢¢ion Pack which includ¢5 a copy of the TnLSi the dales of scheduled Meetin m¢)st recettt finAn¢i4] sry¢m¢nts and other appwpriate lit¢ratLLrc detailin8 events and fOrthmIng 8Ctiwtie& Tnwees are sent Charity C•mmiwt)n ncwslcttcrs alld other publitsh Jnaterial re)Ing to CQTFK)rate 8overnanc¢ and leg#] obligations to keep them abr¢w of their T¢SP0115ibiliiies. ObJe¢tlvu and Acti18 The objects of the Charity are to pwrnote. main. fostu and advance in th¢ North of England and particularly in Yorkshire the &ueation of thc general public in the appreciation of opera chordl works in a]1 Ih¢ir &spe¢ts and rela¢ed orchc5Tr1 work& and to CW)¢Tate with local &uthoritie& ucational institutlons and cultural societies relatin¥ io the practiK pr&1(atIon and study of opxya to promotc bctter and rnorc desprcad pcrfonnallces of op¢r4 chora] aDd tsrthcs works. The Charity continued to pursue its charitable objcctivcs during the ye4r by providing finam¢ial wistanee towards the Nnning and prndurlion corts of Opcrd North by orga)isiDg operd tal concert5 w)d rwitals and by publictsing opcra events ir¢ the region. The Executive Corn]nittee has the N)wer tD invest the as5¢ts of the Clwity ID accordance with the conthtution ofthe Charity.
Fri¢r¥ts (rfOrnNortb Charity reKisttrèJ Lumber 807574 Trustees, Report (cop2tinued) Acbieyements 8nd Perforni4n¢¢ The Chariiy has gene fun¢Ls frwn ldividual8 cknithble fouDdl0tt$ and ¢01Tte &)nors in th¢ rn of gEnernl donation4 legxie8 and membeIllP SLthcriOÉODS. Whue appr(yriate t&T re]icf iu the form of gift aid has been claimcd. Flu¢181 Revlevl During the cours¢ of th¢ last l2 months the Clwiry h&8 seen a decY¢w in its donation and legacy in¢cm¢. Thc financial results for the yrdr aTe sumrnarised on page 6. During the year ¢Dded 31 Mar¢h 2023 a grant of £65,(X)O was made to OperaNonh Limitcd (2022: £140.(K)O). R£9erYe4 Polley The Charity'$ policy OD Testtves is W TtsiD a small SUTplus wffiLy¢xLt to CO administrativ¢ thus enabling it to maximis¢ its 5UPWrt for OpcrdN4)rth's TeveJ]ue 8etivitie& Ail funds ate held in Tisk fre¢ current bank ¢0lts. Cash and bank baknes held at 31 March 2023 tots11 £13,682 (2022.. £166.004). Administrative costs are kept to a minimum genenl office gjpport is being provided by Opera Nonh Limited. At 31 March 2023. free Kserves t(¢a]IJ £6,699 (2022: £24.421). Taking of the 8V8il¥bility of wthing e41itsi 8Dd low l¢vel of fixoj co&& the Tt£S have nClUdj that thc Charity will be able io c£ffltinue rneet its fina1?1 obli8ations as they fau due for at least twdve rnonihs from the date of approval of the6e financial Statemen CoTrwuently. thes¢ financia] 5tatrments hav¢ been prwed on the basis th8t ¢he chlty is 8 going wjca FI for the fvture For the time beitt8 It 15 &ill ttdvantsgty)us io retain the No S¢PaTate ehities bui luJinisti*ive will be proviikd by OperaNort]L This will kept unthrreview. Publk Benefit The Th$tse5 are aware of the Charity Commission's advice on awities and blIC Benefit. The Thlstees confimi that they have ref¢rred to the guidance ¢ontsined in the Chatity Comtnission's general guidan¢e on public bencfit when rewewin8 the Charity'5 airns and (t•je¢uves and in planning future actiwitic5 for the year. Grdnts awarded to Owa North to pport P8ni¢u]4r &sp#ts of its WO in particular en¢ouTaging audiences to acctss unfamili8r piec£s and providiog supporting tslks and UcatI1xkal events for thrther in.dcpth cllgagernent Ix)th witb the p¢rfornJcr5 and ptsform. Key.Mxn#gement PersoDne] Remuneration The trustees ¢onsidcr the of trustecs compri&ng the kcy Ttlanagement personnel of thr ¢harity io chargt of directing and controlling the charity and Tulltitng and gperatsDg thc rhariry QD a day-ti>day basi l rnste£s 8ivc of their tirnc freely and no trusfe¢ entiOn was pd it) the ycar. Details of ttw#ee eXpSeS and related pary tranSalon5 are di10 in notes 10 2nd 11 to the accoun
Friends Of0ra North Trosic¢5' Wortsnd Unaudit fiLÈncial ststements Trustees, Report (continued) Statement of Th, responslbllltles respett of the Trwt¢es' anllual report and the finandal 5tatement$ Th¢ chaTity tN5te¢s are responsible for prcparitlg a Trustees. annual rqkn and farCial staterttents ift accordance with applicable law and United Kingdom Accounting Standar<Ls (Lnitl "ngdoM Gertery Ac¢epied Acwunling Prdctice). The law 2pplicable io cbariti&% in Enyjand and Woles requires the chariry ust¢es to prq)are finan¢ial swtements for each ycar which give a thje and fair view of th¢ stat¢ of affai f the charity and of the IT5]nIn¥ resource$ WMI 8ppli¢ation of resource% of ihc charity for that period. lft preparing the financ1 sYatement4 the trustvs requiytd to.. select suitable accountin8 poli¢i¢s and then apply them eonsteDdy' observe the methods and principle in the 8pplicÈbl¢ Charities SORTr: make judgements and estimat&% that are reasonable and prudurt" state whether applicable w)untin& Stsnilards have been followe& gjbject t() gny mat¢Tial departur that rnust bc disclosed and explainejj in the fin8rtia] st8t¢rn prepare the financial staieroents on the goirt8 eoneern basi$ unless it IS iTwn¥riate to prewrle that the ¢hartty will Continue in busines Thc trustees are responstble for keeping proper aounting ttcords that disclose with Tcasonable accuracy at any time ihe finall¢ial p05ilion of the charity and to eD8ble (hem to ¢nsur¢ ihat the financial statements comply with th¢ Charities Att 2011. the appl)ble Ctrjariues (Accounts and Report8) Regulions. and the provisi¢)ns of the Trust deed. They are also responsible for sa(eguardiftg the &ssets of the ¢barity al tskin¥ re&wnable for the prevention and de¢tion of fraud and othtr irrwlwiTi¢& Trngteej. JttemeDt The Thjsttts who held ¢ifi¢e at the date of approval of tbis Tru5te¢s' report c(mfLml far as they ar¢ ech aware, there is no relevant information of which the Ch¥rity's tndependeni Examiner is umware" 8nd h TTu¢¢ h&8 taken all the step$ thai they ought io have taken as a TruMe¢ ¢0 make themsdves aware of any relevant inforniation and tabliSh the chIty'S Indep¢Dd¢nt Examiner is aw8rc of that irAformation. Approv by the Tr¢S on /&iUII and sipjed on their behalf by: Paul Lee
FrieAdsof QpauNorth Tn. p)rt and unaudited fin8nci81 staternenTS Ckn1tyr¢&rn1 507574 1Tr4DEPENI)ENT EXAMtNER'S REPORT TO THE TRLsfEES OF FRIENDS OF OPERA NORTH I rcport to thc trusttts OD my examitiation of the accounts of Friends of Opera North (Ibe tharity,) for thc yew ded 31 M8rcb 2023. which arc sd (Nrt oll pages 6 to 10. Responsthijiiies basls of report As tlle tsuees of the chaTity you aye responsible for the prepamion of the accounts in with the rffjuiremcnts of thc Charities Act 2011 (Whe 2011 Ad.). I report in Tesp¢¢t of my examination of the cl1,$ cOunts CWTied out und¢r 145 of the 2011 Act end in canying out my examinion T hav¢ followtyj all the applicabl¢ Dir¢¢tion& 8ivcn by the Ctwity Commission under seetion 145 (5Kbl of the 2011 Acl. An independent wmination does Aot involve a)] the evidence that would be required in an audit and conseqLThtly does not eovtt all the matters that aD auditor eonsiders in giving th¢ir ¢)pinion on the accounts. The planning alld conducr of on audit goes b¢yond the litlliied assuranct 1hat an independent examinatitsn can provide. CoDswuently. l expjw no opinion as lo whether the accoullts Present a'true and fair view. and my report is limited to those wific mttttcrs sd out in the indep¢ndeut exarniner's stat¢m¢nl. Independent éxmlDer's stiem¢n¢ have carnp5rfcd my examination. I confinn th& no rnat¢riai matttss have come to my attention in eotffteetion wih lh¢ cx3m]D10n giving me r¢Lsonabl¢ rnLLSe to klicvc ill any ma181 res.. 8ccounlin8 rordS wert not kept in respect of the dwity as r4uired by 10 130 of the 2011 Ihe a¢counts th not aord with tha$¢ recor&s' or the accounts do not eornply with the wlietiiile re4wiralleA concerning th¢ fonn wnt¢nl of accounts sct out in the Charitles {A¢¢ouncs ond Rwrts) Res(10$ 2(Y)8 other than aDy requir¢m¢ntthat the accounts giv¢ a 'tsve and fait view, which is not a Matt con5idcrcd as part of an independent examination. I have no Co¢M8 8nd have come across no oth¢r mattus in eortnecrton with the aamination lo whi¢h atteDtion should be dTawn in this report in OTder enable # proper undeMnding of th¢ acwuntS to be reached. Lucy Robson istitute of Chart¢red A¢¢ountants in EnpJ¥j And Wales RSNI UKT&K and A¢£ounting Limited ChartCTcd Accoumants I St Jam&8 G&e Newcèstle Upot) Tyne NEI 4AD Datc: 15112123
Frtthlsof (eraNorth ChaJity re8iSteK¢d n1ber 507574 ststement of fancIal aCtItieS for1heyt ende431 March 2023 2022 Unr¢strict&J Unrestrict&l Futsds IncOrned EAdoMTheTrts S3010 89J76 Totsl Inwrde $3JiO 89,382 Expelld1t¢ ott: RaisLng funds ChaTitsbiea¢ttvities 3,154 142,220 Tot•lPendIllrt 71J32 145.374 Nrt(exp¢odlfyrey Income (17.7221 (5S.992} To¢ fvndg broulhtfornard 24821 80.413 Tots) t8rr1 forwd 24.421 The charity hAS recognised 8ain$ or losses oth¢r thatt the #et movement in fimds for the cumt and prteedins year. The above results deTtv¢ wholly from continuing op¢raliiJ Notes on page6 8 to 10 fm art integral pAn of th¢ fiDCIal sthtements.
Friends of C*traNorth Charity registerd 507574 Balance sheet s ot31 March 2023 2022 crr4ets Dthorgdtse within oneyt4r 4.699 11682 3.879 166.(MH 18J81 169,883 Credltors: aitK)untsf4UinsdUewithDIoy• (li.6) (145,462) Trlet ¢vrrthtiuets rtprwentlDg to¢ nrtamets 6,699 24.421 Fun 6.699 24.421 6.699 24.421 Notes on page$ 8 to 10 fomi Irtte part of the financial These finan aietnents were approved by the lThrd of Tntr¢s on/Sli2/ZS weAe signed on its behalf by: Paul Lte Charrty RegisteredNumkr. 507574
FriaMl$of Q)e¥aNohb Cbarity register•J number 507574 Notes (forming part of the ststements) AttountSng P0cieS Aeeowiting conwendon ofpreparAfion The financiai stat¢ments bav¢ been pryed under the histixical CO 1VelOn with items re¢¢)gnigoJ at cost or transaction valuc Unl othetwige stated ru the rclevoni n(rt¢s ro these awunts. The fiTMi¢ial statemcnts hav¢ been prepared in attordance with the Stattmeni of Recommended Practice.. A¢counting and Reporting by Chatities preparing their a¢couots irt ac¢ordance with the Financial Rtyorting Standard applicable in Ihr UK and Republic of Ireland (FRS 102) and th¢ E.inanciai Reporting Standard applicable in the United Kinsdom Irtd Republi¢ of Irdand {FRS 1021 and the Charities Aa 201I and t)K GeILY A£ccpted as it applies from l 2015. Going Concern The financial statements have been prep8red on a going e4)neern basi& Having Carri out a detailed revi¢w of the Cknty's re50urett and th¢ chailcngL% it face5. thr TTuMee$ are sats.sfia that the chlty h8$ suffi¢ieni resources to achieve its objec(ives and Contin lo m¢¢t liabilities as they fajl du¢ foT at least on¢ ycar from ihe date of appruval of the 8¢counts. Regular ov¢rhewl CO are very low at as such only low levels of cash re5cfv&Tr are required Lt afty onc tirne. tnflationary pressLkre% increasing inwest raw8 and cost of living challcnges 8T¢ not expectix£ to have very significant itnpact on the clwity's C1 base but may havc some impact on fuDJrc ineome gcn¢ratio Nonctheless the gr8nt spend of the ctwiry is not fixal and $0 can respond io the levcl of in¢ome receivcd in th¢ year. Reseryts and cash lev¢l$ are alway5 wJtsideI in Jvance ofany grdnt yell ensuring th¢ Clwity is left with surficieni reserves. InctrmthzResowc Ineome is recognised in th¢ y¢ar 05Jce th¢ eharity has enutl¢ment to the incom4 it is probabl¢ that tb¢ incorne wryll be re1ved and tk arnourti of income reLeivable e8rt be measured reliably. Income is deferrol only when the Chanty h&8 to fulfil conditions before becomirt8 entitled io it. Unresrriaed donatiODS ¢r¢ditcd in the ¥&)unting period in which the cL8h is rexeiv¢d. Resow¢es Expehded Liabilitits are rr¢ognised as exp¢ndibJre 8s soon &s there is a legal or cons¢Nctive obli88tion conunitting the charity to ttlai expendiiure, it is probable that s¢ttlement will requirtd and the amount of the obligation can be measured reliably. rants payable are chargtsl in the ytsr when the offcr is conveyed to the rKfftpienr exttpt in those cases wh¢r¢ th¢ offer 15 conditional, such graDts bctng Tcwgniwl &8 expellditurc when the WDdiLions atth]llg are fulfilla. CTrants offered subject to ¢onditions which have not been at the Y notoj a5 a wrnmitma)L but not ac¢rueAI &$ ¢xpendtturc. Cost5 of 8etfftting fijnds are those incuffed in ¥tts8ctitig volunty income. Governance costs comprise ail ¢osts involNing th¢ public ac¢ountsbiEity of the Chsrity and ¢omplian¢e with rcgulatioll and good practice. Unrutrict¢dlunds The waTiOUS fvnds of th¢ Charity arc account¢d foras follo Unresrrided fun(L¥ are expendable at the dimtiOD of the Trllstce5 in furtherall¢e of the objects of the Chwity. Unre¥Trioed hnds earmarked foT particular pwp0s¢5 by thc TnetS arcdthi8lla¢eAi as sepaTate fithds. The Friends of Owa North ig considered to the tests set out in Paragraph I S¢bthle 6 Fin3n¢e Act 2010 and therefor¢ it meets the definition of a charitable trust fcff UK income tsx purposcs. A¢corth'ngly, the Charity is exempt from taxation in resrd of irKomr or c4its] gains ]V] within fAtegtiries covered by Part 10 In¢ome T&K Act 2007 or Section 256 of the TatIOn of ChaJEeable GaiTJ$ A¢(1992, to the exicnt that such inwme orgzills ar¢ applied exclusively to charitsble purw)ses. No charge has arisen in theytsx.
FriendsofcTrpnNorth (knity nuDJbty 507574 Notes to the aecounts (conlinued) 2021 2022 Donatitrtsxd logades rk)nRtions and legacies M¢bShIp fees GiftAid iDa)rne 3,310 41.727 &TY3 33.476 47.775 8.125 53110 89?76 Otheriu¢om¢ OtheriJ)¢orn¢ re]atts to HMRC inters4 £nil (2022: £6) 2023 2022 Bankthvrg&4 Evmttsptyj 573 3A17 652 1502 3.154 EndItUre on ch1#ble aettvld 20 2022 Gwts awaftlul kn itL#itittiOL* Le8a] 8t Profeson-1rt¢k[dent1¢r,5 f¢¢18oV¢Tr¢¢) 6SO 2.M2 140.IXK) 122Q 07.442 141220 Debton 2023 2022 4.699 3.879 699 3.879
Friends Of NoTth Ch4Tity y¢st nujnk 507574 Notes to the accounts (lAed) 7 Credltor5: amounts fill8 due thin one ytsr 2011 2022 1?62 9.720 Amounts owed b) Opua North tAd 143242 11.682 145.462 2023 2022 BalRnc• at l April 21r22 ID¢fi¢iiVSuolus forthe y 24A21 (17,722) 80.413 (SS,9921 BalAnceat 31 March2023 24.421 All are hetd bD]anr rpJ ¢wut¥trtLX Th¢Te ar¢ no eAPit81 cotrJmitmen¢s at 31 Mh 2023 for whith provision has not beell m (2022: £nJ). io None of the me¢S holding office durillg the year payment for theiT services tru5tces or reitnbursemeni of expenx8 (2022.. £nil). li Rel#ttd Party TrM¢tlo TNsreE$ cTrf Friend8 of Opera Nortll were are also tsusrees of Opua North L1rnii. During thc year, thc Friends of Open North made a cotttribjtion lo Opera North Limited of £65,tKKI P022.. £14P.000). Opera North Limited paid cosE5 of £6217 (2022.. £4.578) on behalf of Friends of Opcrd Nollh. Thr b2]ance due lo QperaNorth Limitcd at 31 March 2023 was £9,720 (2022.. £J43.242). DOnl0S llLeuLbership fees from Tnweas totalled £60 (9022.. £ni4. Tncomc received into Friends of Opera North OD behalf of Opeta North w&4 £R.5(K) (2022: £8.5(X)). Incom¢ eiv¢d into Operd North on bchatfof ¢h¢ Fria]ds of OperaNorth w&% £8238 (2022: £10,691). io