Registered number: N1601681
Charity number: NIC101771
Nl Opera
(A Company Limited by Guarantee)
Trustees. Report and Financial Statements
For the year ended 31 March 2024

Nl 0￿ra
IA Company Limited by Guarantso)
Contents
Page
Reference and Admlnlstratlve Details of Nl Opera. its Trustees and Advisers
Trustees. Report
Independent Auditors. Report on the Flnancial Statements
10-13
ststement of Financial Actlvltles
14
Balance Sheet
15
Statement of Cash Flows
16
Not8S to the Financial Statsments
17-26

Nl Opera
IA Company Limited by Guarantee)
Reference and Administrative Details of Nl Opera, its Trustses and Advisers
For the year ended 31 March 2024
Trustees
Mr R E Balie CBE, Chair
Dame F Jay-O'Boyle DBE. Deputy Chair
Mr K G Lindsay. Secrelary
Mr S lQngon CBE (resigned 30 June 2024)
Mr R J McBride
Mr J Hunt (resigned 18 September 2023)
Professor D O'Reilly {resigned 30 September 2024)
Mrs J Wells MBE
Ms M Regan
Mr G Boyd (appointed 21 June 2023)
Ms K Shearer, Treasurer (appointed 27 Juty 2023)
Company secretary
Mr K G LirKlsay
Company reglstered
number
N1601681
Charlty reglstered
number
NIC101771
Reglstered office
Carnegie Building Studio J
121 Donegall Road
Belfast
Northem Ireland
BT12 5JL
Independent auditors
Sumer Auditco Nl Ltd
SlatLrtory Auditors
4th Floor
Glendinning House
6 Murray SAreet
Belfast
BT16DN
SUMER
NORTHERN IREL4NO
Page 1

Nl Opera
IA Company Llmlted by Guarantee)
Trustees. Report
For the year ended 31 March 2024
The Trustees present their Annual Report together with the audited financial statements of Nl Opera for the year
from 1 April 2023 to 31 March 2024. The Annual R8POrt serves the purposes of both a Trustees. Report and
Directors, Report under company Law. The Trustees confirm that the Annual Report and financkql statements of
the Charitable Company comply with the current ststutory requirements, the requirements of the Charitable
Companys governing document and the provisions of the Statement of R8commended Practice (SORP)
applicable to charities preparing their accounts in accordan￿ with the Finanaal Reporting Standard applicable in
the UK and Republic of Ireland (FRS102).
Since Nl Opera qualifies as small under section 382 of the Companies Act 2006. the Strategic Report required of
medium and large companies under the Companies Act 2006 (st￿te9￿C Report and Directors. Report
Regulations 2013} has been omFited.
Objectives and activities
a. Policies and objectives
We have referred to the guidance contained in Charity Cormiission's general guidance on public benefit
when reviewing our aims and obJe¢ttves and in planning our future actNities.
The principal objects of the company as per the Articles of Association are to advance the education of the
general public through the presentation of opera and other dramatic, musical and performing arts., and to further
the development of publr appreciation and taste in opera and the said arts.
Founded in 2010, Northem Ireland Op8ra is North8m Irelands a4vard-winning national opera company, widely
acclaimed as one of the most exciiing operatic start-ups in UK and Irish history. With a philosophy of artistic
excellenc8 and risk-taking, underpinned by a bokl and imaginatNE approach to programming and productions,
Northern Ireland Opera is committed to the idea of opera as a unNuely eniithing lotal, art form and one which
should be open to everyone. Through a modem but accessible production style, an emphasis on l¢xal
participation and young people, and inexpensive ticket prices. the Company has broadened the audience for
opera in a regKin where there has been historic under-provision and where the arts are uniquely placed to foster
relattons between communities. In only thirteen years. the Compan5ls energy, ideas and high artistic standards
have led to both national critical acclaim and an intemational profile.
Mission - To provide the huhest-qualty opera to the widest possible audien￿.
Vision
Northern Ireland Opera aims to prorrK)te the best of Northem Irish talent, engaging wth local
communities and young people. closely collaborating with other Northem Ireland arts organisations and using
some of the province's most icontc spaces for its perfomances. It is determined to build up an intemational
profile for the company, recognising the unKiue source of pride an opera company can be fo any region and the
beneffts that are generated in global partnerships.
SUMER
NORTHERN IRELAND
Page 2

Nl Opera
(A Company Llmlted by Guarantee)
Trustees, Report (contlnued)
For the year ended 31 March 2024
Objectlves and adlvltles {continued)
b. Strategies for achlevlng oblectlv
Nl Opera have the following aims:
AIM 1 (ARTISTIC) REPERTOIRE & PRODUCT DEVELOPMENT
Maintain and develop our unique prOd￿tIOn aesthetic and identty whilst expanding our product rang8 across
scale and repertoire.
AIM 2 IARTISTIC) TALENT DEVELOPMENT
Continue to promote and develop young and Irish tslent whikt integrating this function into wider business
objectives.
AIM 3 (ARTISTIC and ORGANISATIONAL) AUDIENCE DEVELOPMENT
Identfy and nurture core supporters. and build awareness. loyalty and engagement amongst a broader netr￿rk
of supporters.
AIM 41ORGANISATIONAL) RESOURCE DEVELOPMENT
Develop and expand current and future revenue streams with a particular emphasis on fundraising and box
office revenues.
AIM 5 IORGANISATIONAL) SUSTAINABILITY AND GOVERNANCE
Slrengthen and stabilise the companws structures, policies and practices lo deliver a more secure and
sustainable financial and operational m¢Jdel.
c. Activities for achieving objeclives
Nl Opera will achieve its objectpies by continuing to provKle artistic ex￿llen￿. ccxnmunty engagement and an
artist training and devek)pment prograrnme for Northem Ireland and the island of Ireland as a whole. The
programme wll be delivered throughout each calendar year centred on the opportunities created by Nl Opera
studio training programme for young singers. the annual Festival of Voice vocal competrtion in Glenami. Co.
Antrim. the outreach and educatiorkql project5. and the main scale production in the Grand Opera House.
d. Main actlvltles undertaken to further the charity's purposes for the public benefit
Cullural provision in Northem Ireland has been hugety underfunded compar8d to other UK règions. However.
current circumstances offer Nl Opera a once in a generation opportunty to address soaal, regenerative. cultural
and economic imperatives via the medium of opera through unique educational experiences, training schemes
and career pathways for potential artists, musicians and Ih8atre practitioners.
SUMER
ORTHERN IRELAND
Page 3

Nl Opera
IA Company Llmlted by Guarantee)
Trustees. Report (continued)
For the year ended 31 March 2024
Achlevements and perforniance
a. Revlew of actlvltles
Northern Ireland Opera has had another busy year and y￿ are delghted to have once again engaged so many
freelance musicians and uew to make it a successful year.
In April 2023, the Northem Ireland Opera Chorus began their season with rehearsals for our main produdion
'Tosca' and other upcoming chorus event5. The chorus enjoyed sessions wtth renowned conductor Jac van
Steen, Coach Bryan Evans and Nl Opera's Artist in Development, Matthew Quinn. Soloists Mary Mccabe and
Catherine Donnelfy plus the female voices from the chorus were invited to perfonn in Mendelssohn's Midsummer
Nighys Dream alongside the Ulster Orchestra in May 2023 at the Ulster Hall. The Chorus then perfomied their
own sold-oul concert a week later in the beautiful surroundings of the Harbour Commissioneff s Room. This was
a showcase concert where the audience could enjoy opera chorus, throughout the ages.
We were once again delighted to be able to perform in the Throne Room at Hillsborough Castle. The Salon
Series, Les Nulls d'Été and A Chloris and other melodies by Hahn were performed by soprano Mary Mccabe
and accompanied by Bryan Evans.
The summer season started with a performan￿ at Flowerfields Arts Centre in Portstewart wtth soprano Anna
Gregg, mezzo Jenny Bourke accompanied by Frasier HicklarKI. The company were once again inwted to take
part in a series of Sunday perfomianc8s on the Mariiime Mile 0￿r th8 summor period and this also included
main stage perfomances across the weekend of the Marltime Festtval. All these events were free tc the general
public to attend. As a fundraiser for Tosca, we hosted a trivia quiz night called 'Tosca and a Tipple, in The Black
Box, Belfast which was great fun for all who t(x>k part. The Rosemary Street Presbyierian Summer Recital Series
retumed once again and we were delighted to participate in two these concerts.
Throughoui the summer months, we were delighted to host a series of workshops for those in school years 8-14
at Duncaim Arts Centre. The 6 y￿ek workshops were to gNe an insight to the different elements of an opera
Company from singing to niake up, dance to set design. Wth thanks to the Arts Council of Northem Ireland, we
were able to offer these workshops free of charge and with thanks to the Garfield Weston Foundation, we were
able to provide breakfast, snacks and lunch ftjr those who attended.
Rehearsals for our main stsge opera, Tosca, began in August 2023 with cast coming from Northem Ireland and
also further afield and we were delighted to have many international perfomiers making their Northern Ireland
debut. Our Tosca Chorus Y￿re also invited to perfonn at the Ulster Rugby Gala Dinner in the ICC Belfast.
Our annual Festival of Voic6 retumed at the end of August to the village of Glenami On￿ again. This included
the masterclasses and finale for fNe singers and also thre8 BBC Radio 3 recitals.
September 2023 saw rehearsals ramp up towards Tosca taking to the Grand Opera Housé stage. We were once
again delighled to be abje to hire the Ulster Orchestra to perform this alongside with us and it was wonderful to
see the auditorium sold out for all ft>ur perfonnances. Alongside the main opera, we held our ouireach week at
the Grand Opera House with a varied programme of song. dance, recitals and a v8ry popular Come and Sing.
We opened our dress rehearsal up to around 600 audience members made up of communty groups. schools
and yOLrth music organi&3tions.
In late September. soloists Mary Mccabe, ManJaret Bridge, Aaron O'Hare and Brendan Collins perfomied
alongside pianist Tristan Russcher as part of the Merchanfs Gala Dinner. Guests were treated to soothing haTP
on arrival. brass fanfare a5 a call to dinner and opera in between ￿)urSeS.
SUMER
NORTHERN IRELAND
Page 4

Nl Opera
(A Company Llmited by Guarantee)
Trustees. Report Icontinued)
For the year ended 31 March 2024
Achi8Voments and perfomiance {continu8d)
From October 2023, the company partnered with the MAC Theatre. Beffast and The Playhouse, Dery to perform
the six Salon Series events (which premiered in early 2023) over a period of at least 6 months. This was an
amazing opportunty for the music and performers to be heard in different parts of Northem Ireland.
We were delighted to send facilitator. Connie McGrath. to deliver a workshop on stsge make up with members
from Springboard in North Belfast. This workshop Ivas held close to Halloween so the theme of the make up was
very easy to establishl
In early November, we were tnvtied to perform at the Synagogue in North BeWast. This included a lunchlime
performance for the older members and then an evening Cabaret dinner. These events were very successftjl
and brought all genres of music together.
Christmas began early in Belfast with a Chrislrnas Sing-Along at the MAC Theatre V￿th members of our chotus.
This was a very popular event and put audien￿ member5 in the Christmas spirit early in the season. The
company also had a visii to the offices from the Minister for Northem Ireland. Minister Stéve Baker. who was
treated to a perf0rrnan￿ from soloists and m8mbers of the chorus.
2024 began with our annual perfonnance at the annual 'Out lo Lunch. festival at The Black Box This was
cabaret style event to a fvll house who also enjoyed th8ir lunch.
Rehearsals also began in early January 2024 for Iwo chamber SIZ￿ events which would be performed in
February 2024 in the Grand Operd House Studio. The first chamber event called 'CupKI's Bow, was based
around the heartache and loves of opera and then the second chamber event was a rarely perfom18d piec8 by
Philip Glass and Robert Moran called 'The Juniper Tr8e'. This piece to giv8 choru5 members a solo role in a
smaller scale production to help devebp thair Sk￿lS and singing. The Juniper Tree was rehearsed and conducted
by Artist in Development répétiteur, Frasier Hickland and he did a wonderful job with the whol8 production and
his 6-piece orchestra.
b. Factors relevant to achleve objectlves
Nl Opera have a small dedicated team and a committed Board of Twstees who are passionate aboul the art
fonn of opera.
Financial review
a. Going concern
The net surplus for the year was £152.022 which resulted in positNe trjtal funds at the year end of £168,591.
Appropriate enquiries have been made of Ihe Trustees in regards adopting the going con￿rn basis. Due to the
continued grant support of the Arts Council of Northem Ireland, Trusts plus anticipated further Theatre Tax Relief
credits, tha Trustees have a reasonable expectation that the company has adequate reSoUr￿S to continue in
operational existence for a period of at least 12 months fr<)m the date when the financial statements ar8
authorised for issue. For this reason, the company continues to adopt the going concern basis in preparing the
financial ststements.
SUMER
NORTHERN IRELAND
Page 5

Nl Opera
(A Company Limited by Guarantse)
Trustees, Report Icontsnued)
For the year ended 31 March 2024
b. Reserves policy
FLrture reserves held by the charty are for the use of achieving objective of advancing the education of the
general public and furthering the development of public appreciation in opera through the presentation of operd
and other dramatic, musical and perfonning arts.
c. Prfnclpal rlsks and uncertainties
As Nl Opera's main funder, the Arts Council of Northem Ireland continue to 5UPPOrt the company f1nancially.
Partnerships wrth key stakeholders, the Ulster Orchestra and the Grand Opera House, continue to devdop.
structure, governance and management
a. Constitution
The company is registered as a chariiable company limited by guarantee and was set up by a Memorandum of
Association on 17 December 2009.
The company is a registered charity number NIC1017T1.
The Trustees are responsible ft)r the strategic management of the company.
Trustees ar6 not paid and generally do not receive out of pocket expenses.
b. Methods of appolntment or election of Trustees
The management of Nl Opera rs the responsibilty of the Trustees who are elected and cwited under the terms
of the Memorandum of Association.
c. Risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the
operations and finan￿ of the company, and are satisfied that systems and procedures are in pla￿ to mrtigate
our exposure to the majcy risks.
SUMER
NORTHERN IRELAND
Page 6

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the year ended 31 March 2024
Plans for future periods
Our plans for th8 2024r25 year and bepnd are detailed below.
Chorus Concert at the Ulster Hall
May 2024
In May we showcased the new intake ￿ chorus members in a cdebration of the great choruses from opera
through the ages. The singers worked wrth acclaimed condudor and language coach James Grossmith. The
chorus presented all of the chorus momenls in concert format frorn our opera for 2024 Eugene Onegin. Mary
Mccabe, who was cast as the lead soprano in the mainstage opera. Tatyana, perfomied a part of her famous
letter scene aria for audiences as way of exposing them to t1￿ musical world of Onegin. This concert also
featured the chorus singing in Russian. as they are Tequired to perfomi in the full production later in the year
from memory for the fully staged production.
Music and Creativ8 Skills Workshops
June 2024
In June 10-14 we hosted and created education events for secondary schtsjl music students. We invited Senior
music students to participate in an outreach week at the Grand Opera House. We provided a unique educational
experience tsilored for students and included vmrks by Tchaikovsky, Mozart. Hump8rdinck. Puccini, BEet. Verdi
and Britten. These sessions are d8sign8d for students.
Arniagh - Salon Event, Palace Demesne. Arnwgh
June 2024
As part of the S￿Ond round of The Salon Series. we presented as a premiere at the Bishops Palace in Amiagh,
a nevly curated salon event called The Stars. The Moon and The Georgian Sky. We performed two
P8rformanc8s at the Palace showcasing music composed in the Georgian era and about Ihe heavens above.
Starring Downpatrick's Mary Mccabe arKI Holywood's Anna Gregg. This VRS a premiere of the new series of
salon events.
Springtime, Summertlme and Mlschlef - Red Sams Festlval - Flowetheld
Juty 2024
We presented an hour of arias and songs on a theme of 'Springtime. Summertime and Mischiefl., performed by
soprano Petra Wells. mezzo Jenny Bourke and pianist Frasier Hickland. Nl Opera appeared at th8 Saturday
Lunchtimes al Flowerfield Park where Nl Opera soloists Serenaded in the beauirful surroundings of the park as
part of The Red Sails Festival.
The 14th Glenami Fe$￿Val of Volce
August 2024
Nl Opera presented the 14th fests'val from August 23rd - 25th. This included three free BBC Radbo 3 recitals to
experience, recorded live at the festival for national broadcast in September as four 'Lunchtimè Concerts,, an
afternoon recital in The Londonderry Ams in Camlough, and the weekend culminated in a Ihrilling vocal
competition featuring fve young opera singers selected from across the island of Ireland. Our Competition
Finale. which was again hosted by our Patron, BBC Radio 3 broadcaster Sean Rafferty. showcased five singers
selected from entrants from across the island of Ireland who competed in front of a live jury panel to win the
Deborah Voigt Opera Prize and become the Nl Opera Young Opera Voic8 of 2024. There was also a Song Priz8
award and the Kathryn Harries Audience Priz8, Voted for by the audience during a short intetV81 on the night.
Eugene Onegln - Grand Opera House BelFast
Sept 2024
For the mainstage season, produced a wonderful Tchaikovsky opera called Eugene Onegin at Ihe Grand
Opera House. This saw the casting of the four main female roles ￿1th all singers from Northern Ireland. a first for
th8 company. In another first for the company. we also launched our own orchestra made up of players all from
the island of Ireland. We taunched the Orchestra of Northem Ireland Opera. these 43 amazing local
SUMER
NORTHERN IRELAND
Page 7

Nl Opera
IA Company Limited by Guarantee)
Trustees, Report (contlnued)
For th8 year 8nded 31 MarGh 2024
Plans for future periods Icontlnued)
instrumentalists were led by the Kapellmeisler from the Deutsche Oper Bèdin. Dominic Limburg. This was a very
pivotal production for the company and allowed us to exlend on our already much acclaimed work and keep
being abl8 to premiere new grand opera in Northern Ireland.
Pop up and reglonal events for 24125
The next year will see the company also remain open and flexible to being able to respond to the sector and to
continue working with our community partners and sectoral partnets such as Derry Play House, The MAC. Big
Telly Theatre Company. This will also allow us to produ￿ and perfom residencies at Stunning venues across
Northern Ireland such as the Palace Demesn8 wi Am)agh, The Merchant Hotel. The Harrison Chambers of
Distinction and to present pop up works across Northem Ireland from the Marttime Mile to the Botanic Gardens
and to regional festivals in Newry and along the North Coast from Castlerock to Glenami.
Statement of Trustees. responsibilities
The Trustees (who are also the Directors of Nl Opera for the purposes of coffpany law) are responsib18 for
preparing the Trustees. Report and the financial statements in accordan￿ with applicable and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare fin￿¢la1 statements for each financial . Under company law. the
Trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of
the state of affairs of Nl Opera and of ils incoming resources and application of resources, including its income
and expenditure. for that period. In preparing these f￿ancIal statements, the Trustees are required to:
S81ect suttable accounting policies and then apply them consistently.
obseNe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that aTe reasonable and prudent"
state whether applbcable UK Accounting Standards (FRS 102) have been followed, subject to any material
departures disdosed and explained in the financial statements" and
prepare the financial ststements on the going concem basis unless it is inappropriate to presum8 that Nl
Opera will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain Nl
Opera's transactions and disdose with reasonable accuracy at any time the financial poSit￿n of Nl Opera and
enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also
responsible for safeguarding the assets of Nl Opera and hence for taking reasonable steps for the prevention
and d8tection of fraud and other irregularities.
Disclosure of infomiation to audltors
Each of the persons who are Trustees at the time when this T￿￿tees, Report is approved has confirmed that:
so far as that Trustee is ￿re. there is no rdvrfant audit inf0M￿tion of ￿lch the charivs auditors are
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charivs auditors are aware of that infomation.
SUMER
NORTHERN IRELAND
Page 8

Nl Opera
(A Company Llmited by Guarantee)
Trustees. Report (¢ontinuedl
For the year ended 31 March 2024
Auditors
The audrtors. Sumer Auditco Nl Ltd. have indtcaed their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors al a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Mr R E Bailie CBE
Chair
Date: 2 December 2024
SUMER
NORTHERN IRELAND
Page 9

Nl Opera
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of Nl Opera
Opinion
We have audited the financial statements of Nl Opera for the year ended 31 March 2024 which comprise the
ststement of Financial Adivities, the Balance Sheet, the Statement of Cash Flows and the related notes,
including a summary of signiFicant accounting policies. Th8 finanaal reporting framework that has been applied
in their preparation is applicable kaw and Untied Kingdom Accounting Stsndards, including Financial Reporting
Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom
General￿ Accepted Accounting Practice).
In our opinion the financial slatemenls:
give a true and fair view of the state of the charitable companls affairs as at 31 March 2024 and of ils
incoming resources and application of resources, including its income and expenditure for the year then
ended;
have been property prepared n accorda￿￿ WIUI Uniied Kingdom Generalty Accepted Accounting
Practice., and
have been prepared in accordance wfth the requirements of the Companies Act 2008.
Basls for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those stsndards are further described in the Audrtors, responsibililies for the audit
of the financial statements sedion of our report. We are independent of the charitable company in accordance
with the ethical requirements that a￿ relevant to our audit of the financial statements in the United Kingdom,
including th8 FinanGial Reporting Council's Elh￿al Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit ewdence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In audib'ng the financial staternents, have conduded that the Trustees, use of the going concern basis of
accounting in the preparat￿In of the financial statements is appropriate.
Based on the work we have performed, we have not identffied any material Un￿rtaIntieS relating to events or
Conditions th*, individualty or collectively, may cast significant doubt on the charitable companys ability to
continue as a going con￿rn for a period of at least twelv8 months from when the financial statements are
authorised for issue.
Our responsibilities and the responsiblities of the Trustees wilh respect to gcing concern are described in the
relevant sections of this report.
SUMER
NORTHERN IREL4ND
Page 10

Nl Opera
IA Company Llmlted by Guarantee)
Inde￿ndant Auditors. Report to the Membors of Nl Opera (continued)
Other information
The other infonnation compnses the infomiation included in the Ann￿al Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other inf0m1at￿n contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
ex￿p1 to the eyxent Other￿lse explicrtly stated in our report. we do not express any fomi of assuran￿ conclusion
thereon. Our responsibilty is to read the other infonnation and, in doing so, consider whether the other
infonnation is materially inconsistent wtth the financial ststements or our knowledge obtained in the course of the
audit, or otherwise appears to be materialty misstated. If we identTfy such material inconsistencies or apparent
material misstatements. we are required to determine whether this grves rise to a material misstatement in the
financial statements themselve5. If, based on the work we have p8rfonned. we conclude that there is a material
misstatement of this other infomiation, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companles Act 2006
In our opinion. based on the vrfork undertaken in the course of the audit:
the infomiation given in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent with the financial statements; and.
the Trustees, Report has been prepared in accordan￿ with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and ils environment obtained in the
course of the audit, we have not identif￿1 material misstatements in the Trustees. ReporL
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you rf, in our opinion:
18quate accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us" or
the financial statemerrts are not in agreement with the accounting records and retums" or
certain disclosures of Trustees, remuneration specffied by law are not made; or
we have not received all the infomiation and explanations we require frjr our audit. or
the Trustees were not ent￿ed to Fryare the finanaal ststements in accordance wrth th8 small companies
regime and take advantage of the small companies. exeffptions in preparing the Trustees, ReF)Ort and
from the requirement to prepare a Strategic Report.
SUMER
NORTHERN IRELAND
Page11

Nl Opera
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of Nl Operd {contlnued)
Responsibilitles of trustsos
As explained more fully in the Trustees. Responsbi ilities Statement. the TnEtees (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair wiew, and for such intemal control as the
Trustees deterniine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements. the Trustees are responsible for assessing the tharrtable company's abilty
to conkn'nue as a going concem, disclosing, as applicable, matters related to going concern and using the going
concern basis of accountj'ng unless the Trustees erther intend to liquidate the charitable company or to cease
operations, or have no realist￿ altemative but to do so.
Auditors, ￿SPonSibl11t1es for the audit of the financial ststements
Our objectives are to obtain reasonable assurance abotrt whether the financial ststements as a whole are free
from material misstatement. whether due to fraud or error. and to issue an Auditors, Report that indudes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wrth ISAS {UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material rf. individually or in the aggregate. they could reasonably b8
expected to Infjuen￿ the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws arKI regulations. We design procedures
in line with our responsibilities. ouuined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, induding fraud is
detailed below..
We considered the opportunities and incentNes that may exist wilhin the organisation foT fraud and identified the
greatest potential for fraud in the following areas.. timing of recognition of income; and posting of unusual joumals
along with complex transactions. We dis¢up￿ed Ihese risks wrth client management, designed audit pro￿lUreS
to test the timing of income, tested a sample of joumals to Gonfimi they were appropriate and reviewed areas of
judgement ft)r indicators ￿ management bias to address these risks.
A further description of our responsibilities for the ￿dit of the financial slatements 15 locatéd on the Financial
Reporting Council's website at.. www.frc.o
.uklauditorsres
nsibilities. This description forms part of our
Auditors, Report.
Use of our report
This report is made solely to the charitable companvs members, as a body, in accordan￿ with Chapter 3 of Part
16 of the Companies Act 2006. Our aLKIrt work has been undertaken so that we might state to the charitable
companrfs members those matters VR are required to state to them in an Auditors, Report and for no other
purpose. To the fullest extent pemiitted by law. we do not accept or assume responsibility to anyone other than
the charitable Company and its members. as a body. for our audit Work. for this r8POrt. or for th8 opinions we
have fomied.
SUMER
NORTHERN IRELAND
Page 12

Nl Opera
(A Company Limited by Guarantee)
Independant Auditors. Roport to the Members of Nl Opera (continued)
Amanda Mcmaw (Senior Statutory Audltor)
for and on behalf of
Sumer Auditco Nl Ltd
statutory Audrtors
4th Floor
Glendinning House
6 Murray Street
Belfast
BT16DN
2 December 2024
Sumer Auditco Nl Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
SUMER
NCRTHERN IRELAND
Page 13

Nl Opera
(A Company Limited by Guarantee)
Statsment of financial activities (incorporating income and expenditure account)
For the year ended 31 March 2024
Unrestrf¢ted
funds
2024
Restrlcted
funds
2024
Total
funds
2024
Total
funds
2023
Nots
Income from:
Donations and legacies
Charitable activitEs
Investrnents
Other income
88.911
170,179
2,524
109,575
700.603
789,514
170.179
2.524
109,575
1,089,745
133,249
517
Total income
371.189
700.603
1.071,792
1,223,511
Expenditure on:
Charitable activities
172.690
747,080
919.770
1,185,066
Total expendlture
172,690
747.080
919,770
1.185,066
Net Incomel(expenditure}
Transfers between funds
198,499
146.477)
{46A77)
46.477
152,022
38,445
12
Net movement In funds
152,022
162,022
38,445
Reconclllatlon of funds..
Total funds brought forward
Net movement in funds
16,569
152,022
16,569
152,022
(21,876)
38,445
Total funds carried forward
168,591
168.591
16,569
The Statement of Financial Activitses indudes all gains and losses rwnised in the year.
The notes on pages 17 to 26 form part of Ihese financial statements.
SUMER
NORTHERN IRELAND
Page 14

Nl Opera
(A Company Limited by Guarantee)
Registered number: N1601681
Balance Sheet
As at 31 March 2024
2024
2023
Note
Fixed assets
Tangible asset8
17,429
21,658
17A29
21,658
Current assets
Debtors
Cash at bank and in hand
10
15
110,350
91.701
24,867
60,120
202.061
84,987
Creditors: amounts falling due within one
year
11
(50,889)
{90,076)
Nel current assets I Ilabllltes
151.162
(5.089)
Total assets less current Ilablllttes
168.591
16,589
Total n8t assets
168,591
16,569
Charity funds
Restricted funds
Unrestricted funds
12
12
168,591
16,569
Total funds
168,591
16.569
The Trustees acknowledge their responsibilities for complying wilh the requirements of the Act with respect to
accounts'ng records and preparation of financial slatements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements V￿re approved and authorised for issue by the Trustees and signed on their behalf by..
Mr R E Ballle CBE
Chair
Date: 2 D8c8mber 2024
The notes on pages 17 to 26 form part of these financial statements.
SUMER
NORTHERN IRELAND
Page 15

Nl Opera
(A Company Limited by Guarantee)
Statement of Cash Flows
For the year ended 31 March 2024
2024
2023
Cash flows from operating actlvltles
Net cash from operating activities
33.162
49.668
Cash flows from investing activities
Purchase of tangible fixed assets
(1,581)
(21,658)
Net cash used in investing activities
(1.581)
(21.658)
Cash flows from financing adivities
Repayments of borrowing
{50,000)
Net cash provlded byl(used In) financing activities
(50.000)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
31.S81
(21.990)
82,110
60.120
Cash and cash equlvalents at the end of the year
91.701
60,120
The notes on pages 17 to 26 fomi part of these finarKial slatements
SUMER
NORTHERN IRELANO
Pag8 16

Nl Opera
(A Company Llmited by Guarantee)
Notes to the Flnanclal Statements
For the year ended 31 March 2024
Accountlng pollcles
1.1 Basls of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) -
Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance wikh the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102), the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland (FRS 102) and the Companies Act 2006.
Nl Opera meets the definrtion of a wblic beneff( entty under FRS 102. Assets and liabilrttes are
initialty recognised at historical cost or transaction value unless Othe￿¥1$e stated in the relwant
accounting policy.
1.2 Golng concern
The trustees of Nl Opera have reviewed the appropriateness of the going concern assumption in light
of the financial position at the year end.
Due to the continued grant support of the Arts Council of Northern Ireland, Trusts, plus further
Theatre Tax Relief credits. the Trustees have a reasonable expectation that the company has
adequate resources to continue in operational e￿Stence for a period of at feast 12 months from the
date when the financial statements are authorised for issue.
Accordingly, the trustees believe that it is approprtate lo continue to adopt the going concern basis in
preparing the financial statements.
1.3 Income
All income is recognised once Nl Opera has entttlement to the income. it is probable that the income
will be received and the amount of income receivable can be measured reliabty.
Grants are included in the Statement of Financial ActiV5ties on a receivable basis. Th8 balanc8 of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balants Sheet. Where income is re￿iVed in advance of entiuement of receipt. its
reccKJnrtion is deferred and included in creditors as defeThed income. Where enlitlement occurs
before income is received. the income is accwed.
SUMER
NORTHERN IRELAND
Page 17

Nl Opera
(A Company Llmlted by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2024
Accounting policie5 (contlnued)
1.4 Expenditure
Expenditure is recognis8d once there is a legal or ¢onstru¢tive obligation to transfer economic benefrt
to a third party, it is probable that a transfer of economic benefts will be required in settlement and
the amount of the obligatK)n Can be measured reliably.
Expenditure on charitable actiwlies is InCu￿ed on directy undertaking the aGtivities which further Nl
Opera's objectrves, as well as any associated support costs.
Expenditure is anatysed between restricted and unrestricle(l experKltture.
1.5 Tangibl8 fixed assets and depreciation
Tangible fixed assets are caprtalised and recognised when future economic benefits are probable
and the cost or value of the asset can be measur8J reliabty.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at C05t less accumulated depreciation and any accumulaled impairment
losses. All costs incurred to bring a tangible r￿ed asset into tts intended working condition should be
induded in the measurement of cost.
Deprecialion is provided on the follo*ving bases:
Fixtures and fittings
Offica equipment
250A slTaight line
25% straight line
1.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade d￿coUThl offered.
PrepayTnents are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bank and In hand
Cash at bank and in hand includes cash and short-tetm highty liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or sinwlar account.
1.8 Liabllltles and provlsions
Liabilities are recognised when there is an ct)ligation at the Balance Sheet date as a result of a past
event. it is probable that a transfer of economic benefii will be required in settlement. and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount thal Nl Opera anticipates rt will pay to settle the debt or the
amount it has receNed as advanced paJThents for the g(X)ds or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that refiects the risks specific to the liabilty. The
unwinding of the discount 15 recognised in the St*ment of Financial Activities as a finan￿ cost
SUMER
NORTHERN IRELAND
Page 18

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2024
Accounling policie5 Icontinued)
1.9 FinanGial instruments
Nl Opera only has financial assets and financial liabilrties of a kind that qualfy as basic financial
instruments. Basic financial inslruments are initially recognised at transaction value and subsequent
measured at their settlement value.
1.10 Fund accounting
General funds are unrestrictad funds which are available for use at the discretion of the Trustees in
fijrtherance of the general objectives of Nl Opera and which have not been designated for other
purposes.
Restricted funds are funds vthich are to be used in accordance with specific restrictions imposed by
donors or which have been raised by Nl Opera for particular purposes. The costs of raising and
administering such funds are Charged against the specific fund. The aim and use of each restricted
fund is set out in th8 notes to the financial statements.
Grants. donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Totsl
funds
2024
Total
funds
2023
Grant incorre
Partnership fundinglcontributions
Donations
Trusts
700,603
700.603
1.152
13.759
74,000
994.167
2.157
3,421
90,000
1,152
13.759
74.000
Total 2024
88,911
700.603
789.614
1,089,745
Total 2023
93.421
996,324
1,089,745
SUMER
NORTHERN IRELAND
Page 19

Nl Opera
(A Company Llmlted by Guarantee)
Notes to the Financial Ststements
For the year ended 31 March 2024
Income from charltable activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Box office re￿iptS
Programmes
Miscellaneous income
I(￿.700
106,700
92,005
4rJo
40,844
63,479
63.479
170,179
170,179
133,249
Investment income
Unrestricted
funds
2024
Totsl
funds
2024
Total
funds
2023
Bank interest receivable
2.524
2,524
517
Analysis of expenditure on chartlabl8 activiti89
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Core costs
Support costs
Other support costs - staff
572,242
174.838
572.242
198.603
148.925
702.333
321,983
160,750
23.765
148.925
Total 2024
172.690
747.080
919.770
1,185.066
Total 2023
164.889
1,020,177
1,185.066
SUMER
NORTHERN IRELAND
Page 20

Nl Operd
IA Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 hlarch 2024
Auditors. remuneration
2024
2023
Fees payable to Nl Opera's auditor for the audit of Nl Operd's annual
accounts (including VAT>
Fees payable to Nl Opera's auditor in respect ofr.
All non-audit services not included above
6,000
5.700
7,200
7,100
Staff costs
2024
2023
Wages and salaries
Social securty costs
Pension contributicms
134,692
12,586
1,647
142,180
16,346
2,224
148,926
160,750
The average number of persons employed by Nl Opera during the year as fdlows..
2024
2023
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration paid to key management personnel totalled £52.500 (2023 - £50,000>.
SUMER
NORTHERN IREL4ND
Page 21

Nl Opera
(A Company Llmlted by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2024
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefts (2023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL>.
Tangible r￿ed assets
Fixiures and
fittings
Office
equlpment
Total
Cost or valuation
At 1 April 2023
Addttions
275
33.909
34,184
1,581
At 31 Ma￿h 2024
275
35,490
35,765
Depreciation
At 1 April 2023
Charge for the ye2*
275
12,251
5,810
12,526
5,810
At 31 March 2024
275
18.061
18.336
Net book value
At 31 March 2024
17.429
17.429
At 31 March 2023
21.658
21.658
SUMER
NORTHERN IRELAND
Page 22

Nl Opèra
(A Company Limited by Guardntee)
Notes to the Financlal Statements
For the year ended 31 March 2024
10. Debtors
2024
2023
Due within one year
Other debtors
Prepayments and ac¢nEd inco￿£
24.867
110,350
110,350
24.867
11. Creditors= Amounts falling du8 within one year
2024
2023
Trade credrtors
Other taxation and social security
Other credttors
Accruals and deferred income
40.624
257
3,768
6,240
83,927
549
5,600
50.889
90,076
SUMER
NORTHERN IRELAND
Page 23

NE Opera
(A Company Limlted by Guarantee)
Notes to the Financial Ststements
For the year ended 31 March 2024
12. Ststement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Unrestricted funds
General Funds - all furyjs
Other income - theatre tax relief
credit
16,569
261,594
(172,690)
(46.477)
58.996
109,595
109.595
16.569
371,189
(172,690)
(46.477)
168,591
Restricted funds
R8Stricted Funds- all funds
700,603
1747,080)
46,477
Total of funds
16.569
1.071.792
{919,770)
168.591
Statement of fund5 - prlor year
Balance at
31 March
2023
Balance at
1 April 2022
Transfers
inlout
Income Expendrture
Unrestricted funds
General Funds - ai furKIs
(13,547}
227.187
{164,889)
(32,182}
16.569
Restricted funds
R8Stricted Funds - all funds
(8,329)
996.324 (1,020,1
32,182
Total of funds
{21,876)
1.223,511
(1.185,066)
16,569
SUMER
NORTHERN IRELAND
Page 24

Nl Opera
IA Company Llmlted by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2024
13. Analysis of net assets between funds
Analysls of net assets between funds - current period
Unrestrlcted
funds
2024
Total
funds
2024
Tangib￿ r￿ed assets
Current assets
Credttors due within one year
17,429
202.051
(50,889)
17.429
202,051
{50.889)
Total
168,591
168,591
14.
Reconclllatlon of net movement in funds to net cash flow from operating activities
2024
2023
Net income for the period (as per Statement of Financpl ActMti8s)
152,022
38.445
Adjustments for:
Depreciation charges
Increase in debtors
Decrease in creditors
5.810
{85A831
(39,1871
2,000
TT,536
(68,313)
Net cash provided by operallng actlvltles
33,162
49.868
16. Anatysis of cash and cash equivalents
2024
2023
Cash in hand
91,701
60,120
Total eash and cash equivalents
91,701
60,120
SUMER
NORTHERN IREL4ND
Page 25

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For Ihe year ended 31 March 2024
16. Anatysis of changes in net debt
At 1 Aprll
2023 Cash flows
At 31 March
2024
Cash at bank and tn hand
60,120
31,581
91.701
60,120
31,581
91.701
17.
Related party transactions
The Nl Opera has not entered into any rel*d party transaction during the year, nor are there any
outstanding balances owing belween related parties and th8 Nl Opera at 31 March 2024.
SUMER
NORTHERN IRELAND
Page 26