Registered number: N1601681
Charity number". NIC101771
Nl Opera
{A Company Limited by Guarantee)
Trustees. Report and Financial Statements
For the year ended 31 March 2025

Nl Opera
(A Company Limited by Guarantee)
Contents
Page
Reference and Administrative Details of Nl Opera, its Trustees and Advisers
Tru5tees' Report
Independent Auditors. Report on the Financial Statements
10-13
Statement of Financial Activities
14
Balance Sheet
Statement of Cash Flows
16
Notes to the Financial Statements
17-27

Nl Opera
{A Company Limited by Guarantee)
Reference and Administrative Details of the Nl Opera, its Trustees and Advisers
For the year ended 31 March 2025
Trustees
Mr R E Bailie CBE, Chair
Dame F Jay-O'Boyle DBE, Deputy Chair
Mr K G Lindsay, Secretary
Mr S Kingon CBE (resigned 30 June 2024)
Mr R J McBride {Resigned 26 February 2025)
Professor D O'Reilly (resigned 30 September 2024)
Mrs J Wells MBE
Ms M Regan
Mr G Boyd
Ms K Shearer, Treasurer
Mr S M Robinson (appointed 2 December 2024)
Company secretary
Mr K G Lindsay
Company registered
number
N1601681
Charity registered
number
NIC101771
Registered office
Carnegie Building Studio J
121 Donegall Road
Belfast
Northern Ireland
BT12 5JL
Independent auditors
SumerAuditCo Nl Ltd
statutory Auditors
4th Floor
Glendinning House
6 Murray Street
Belfast
BT16DN
SUMER
NORTHERN IRELAND
Page 1

Nl Opera
(A Company Llmited by Guarantee)
Trustees. Report
For the year ended 31 March 2025
The Trustees present theirAnnual Report together with the audited financial statements of Nl Opera for the year
from 1 April 2024 to 31 March 2025. The Annual Report serves thè purposes of both a Trustees, Report and a
Directors, Report under company law. The Trustees confirm that the Annual Report and financial statements of
the Charitable Company comply with the current statutory requirements. the requirements of the Charitable
Company's governing document and the provisions of the Statement of Recommended Practice ISORPI
applicable to charities preparing their accounts in accordance with the Financial 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 (strategic Report and Directors, Report
Regulations 2013} has been omitted.
Objectives and activities
Policies and objectives
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit
when reviewing our aims and objectives and in planning our future activities.
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 public appreciation and taste in opera and the said arts.
Founded in 2010. Northern Ireland Opera is Northern Ireland's award-winning national opera company, widely
acclaimed as one of the most exciting operatic start-ups in UK and Irish history. With a philosophy of artistic
excellence and risk-taking, underpinned by a bold and imaginative approach to programming and productions.
Northern Ireland Opera is committed lo the idea of opera as a uniquely enriching 'tolal' art form and one which
should be open to everyone. Through a modern but accessible production style. an emphasis on local
participation and young people, and inexpensive ticket prices, the Company has broadened the audience for
opera in a region where there has been historic under-provision and where the arts are uniquely placed to foster
relations between communities. In only thirteen years, the Company's energy, ideas and high artistic standards
have led to both national critical acclaim and an international profile.
Mission To provide the highest-quality opera to the widest possible audience.
Vision
Northern Ireland Opera aims to promote the best of Northern Irish talent, engaging with local
communities and young people, closely collaborating with other Northern Ireland arts organisations and using
some of the province's most iconic spaces for its performances. It is determined to build up an intemational
profile for the company, recognising the unique source of pride an opera company can be to any region and the
benefits that are generated in global partnerships.
SUMER
NORTHERN IRELAND
Page 2

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report {continued}
For the year ended 31 March 2025
Objectives and activities (continued)
b. Strategies for achieving objectives
Nl Opera have the following aims..
AIM 1 (ARTISTICI REPERTOIRE & PRODUCT DEVELOPMENT
Maintain and develop our unique production aesthetic and identity whilst expanding our product range across
scale and repertoire.
AIM 2 (ARTISTIC) TALENT DEVELOPMENT
Continue to promote and develop young and Irish talent whilst integrating this function into wider business
objectives.
AIM 3 {ARTISTIC and ORGANISATIONAL) AUDIENCE DEVELOPMENT
Identify and nurture core supporters, and build awareness, loyalty and engagement amongst a broader network
of supporters.
AIM 4 (ORGANISATIONAL) RESOURCE DEVELOPMENT
Develop and expand current and future revenue streams with a particular emphasis on fundraising and box
office revenues.
AIM 5 (ORGANISATIONAL) SUSTAINABILITY AND GOVERNANCE
Strenglhen and stabilise the company's structures, policies and practices to deliver a more secure and
sustainable financial and operational model.
c. Activities for achieving objectives
Nl Opera will achieve ils objectives by continuing to provide artistic excellence, community engagement and an
artist training and development programme for Northern Ireland and the island of Ireland as a whole. The
programme will be delivered throughout each calendar year centred on the opportunities created by Nl Opera
Creative Skills Development and Chorus Development training programme for young singers. the annual
Festival of Voice vocal competition in Glenarm, Co. Antrim. the outreach and educational projects, the
Hydebank Prison Choir Project and the main scale production in the Grand Opera House.
d. Main activities undertaken to further the charity's purposes for the public benefit
Cultural provision in Northern Ireland has been hugely underfunded compared to other UK regions. However,
current circumstances offer Nl Opera a once in a generation opportunity to address social, regenerative. cultural
and economic imperatives via the medium of opera through unique educational experiences, training schemes
and career pathways for potential artists, musicians and theatre practitioners.
SUMER
NORTHERN IRELAND
Page 3

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report {continuedl
For the year ended 31 March 2025
Achievements and performance
Review of activities
Northern Ireland Opera has had another busy year and we are delighted to have once again engaged so many
freelance musicians and crew to make it a successful year.
In April 2024 Nl Opera started off the year with an exciting week of outreach and education for Senior Music
Students to participate in an exciting week of learning. Including sessions to explore acting. singing, staging,
directing and linguistics unveiling the multifaceted world of opera. Expert-led workshops were held in the Grand
Opera House Studio space where a performance showcase was held at the end of the week for parents and
school teachers.
The highly successful Salon Series began a run at the MAC Belfast on 13 April 2024. This is a six part series
where audiences were able to immerse themselves in the world of song, opera and music through storytelling.
Starting off with the salon performance of Bewitched, Bothered and Bewildered starring Rulh McGinley and
Wendy Ferguson. Other Salon pieces were perfomied from April onwards throughout 2024. Including La Voix
Humaine by Poulenc starring soloist Mary Mccabe and David Quigley. Sea Wrack with Frasier Hickland, Jenny
Bourke and Susie Gibbons. Sea Wrack also saw a collaboration on costume with Nl Artist Sarah O'Neill.
The Salon Serie5 was then appearing in DerrylLondonderry at The Playhouse Derry for a weekend of Musical
Melodies. The Lost Boy starring Conor Quinn and Greg Airowsmilh on piano was performed along with Ruth
McGinley and Wendy Ferguson performing Bewitched, Bothered and Bewildered. Alongside these two
performances over the weekend Nl Opera ran a series of free workshops in creative and skills development
along with pre-show talks with director Cameron Menzies on the Salon Series and in particular the IMO shows
that were being performed.
In May Northern Ireland Opera with their Chorus Development Programme singers performed al the Ulster Hall.
The singers performed works by Wagner, Purcell, Puccini Verdi and Tchaikovsky including works by John
Adams. This concert was prepared and conducted by the esteemed James Gross Smith and accompanied on
piano by Tristan Rusccher. This concert also included a section for our Nl Opera Artist in Development
CondLtctor Margaret Bridge to conduct sections of Purcell's The Fairy Queen. This concert gave Margaret a
performance credit and a real opportunity to conduct on the professional concert platform. Soloist Mary Mccabe
performed her aria from Eugene Onegin as part of this concert and to promote the mainstage opera work for
2024.
Our very popular Morning Melodies series continued in 2024. This 11am Wednesday morning concert series is
an opportunity for our singers to work on new and developing repertoire and to present a varied array of musical
genre to an intimate audience. Each Moming Melodies has sold out and we mostly hold these concerts in the
Studio Space al the Grand Opera house. They are always at 11am and contain 50 minutes of varied music
from Opera, Song to Music Theatre. They are proving very popular with audiences who do not like to travel al
night.
We released our main stage opera for 2024 which was the Tchaikovsky masterpiece Eugene Onegin to be
performed at the Grand Opera House on Sept 14, 17, 19 and 21. We were very happy to announce that the
cast consisted of an all female cast from the island of Ireland, a first for the company. Mary Mccabe made her
principal role debut at the lead 50prano Tatyana, Sarah Richmond played the role of Olga, Caroline Dobbin the
role of Madame Larina and Jenny Bourke also making her principal role debut as Filipevna. European opera
conductor Dominic Limburg was engaged to lead the premiere of the Orchestra of Northern Ireland Opera to
great acclaim. The Chorus singers, all working throughout the year on skills and a huge amount of language
hours lo sing in Russian (the majority of them for the first time}, appeared in the production to great acclaim.
SUMER
NORTHERN IRELAND
Page 4

Nl Opera
IA Company Limited by Guarantee)
Trustees, Report (continued)
For the year ended 31 March 2025
Achievements and performance {continuedl
Nl Opera were engaged to perform at the Belfast City Hall to celebrate the 40th Anniversary of Belfast Exposed,
Northern Ireland's leading centre for photography. Soloists Mary Mccabe and Jenny Bourke appeared with the
full forces of the Nl Opera Chorus.
Our schools outreach programme commenced in May and throughout the year, led by India Chapman-webb.
has been travelling across Nl to help support or to introduce music into school classrooms. India has provided
12 months of outreach to a mix of schools across Nl.
2024 saw us launch a new initiative to see how we might help support local artists and art sector workers. We
were delighted to be able to provide a very limited number of Complimentary tickets to anyone in these seclors.
This programme was launched as part of the Chorus performance at the Ulster Hall and was also a way of
getting people who may not usually attend such events to give it a try and see what they thought. All we asked
for in return was some feedback about what they had seen. This programme has worked well to engage with
new audiences for Nl Opera.
Nl Opera performed in Armagh at The Palace Chamber, Palace Demesne a programme of Georgian delights
called The Stars, The Moon and the Georgian Sky. Soloists Anna Gregg and Mary Mccabe performed
concerts with pianist Bryan Evans to two sold out performances.
Again, Nl Opera provided a full summer series programme of free events across Nl, performances were held al
Warrenpoint, Armagh, Flowerfields, Bangor, DerrylLondonderry, Bankmore Square and Maritime Mile. These
performances across Nl enable us to reach new audiences and to consolidate our loyal following.
The 14th Glenarm Festival of Voice was held from Friday 23 to Sunday 25 August in Glenarm Co. Antrim. The
annual Festival of Voice returned at the end ofAugust to the village of Glenarm On￿ again. This included
the masterclasses and finale for five singers and also three BBC Radio 3 recitals.
August 2024 saw rehearsals ramp up towards Eugene Onegin taking to the Grand Opera House stage.
Alongside the main opera, we held our outreach week at the Grand Opera House with a varied programme of
song, dance, recitals and a very popular Come and Sing. We opened our dress rehearsal up to around 600
audience members made up of community groups, schools and youth music organisations.
As part of our outreach work we held a week long series at the Grand Opera House working with students from
a variety of secondary schools including St Genevieve's, Rathmore Grammar, Hunterhouse college, The Royal
Belfast Academical Institution, Bangor Grammar and Dominican College where these students took part in
expert-led sessions in Music and Creative Skills with an open performance at the end of the week for invited
family and guests.
Nl Opera Choru5 performed as part of a charity event at the Ulster Hall for Solas which is a special needs
charity which 5UPPOrts children and young people with a broad range of needs including Autism.
Nl Opera performed across the festive holiday season in December at The Merchant Hotel, we hosted our
Christmas- Sing a Long with a packed audience all there to hear Christmas music and then to join in a big sing
along together with the Nl Opera Chorus.
We saw another sold out events for the start of 2025 with a showcase of local and young talent at Opera for
Tea at the Blackbox as part of the Cathedral Arts Festival in January.
SUMER
NORTHERN IRELAND
Page 5

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report {continuedl
For the year ended 31 March 2025
Achievements and performance (continued)
b. Factors relevant to achieve objectives
Nl Opera have a small dedicated team and a committed Board of Trustees who are passionate about the art
fomi of opera.
Financial review
. Going concern
The net deficit for the year was £111,374 which resulted in positive total funds at the year end of £57.216.
Appropriate enquiries have been made of the Trustees in regards adopting the going concern basis. Due to the
continued grant support of the Arts Council of Northern Ireland, Trusts plus anticipated further Theatre Tax
Relief credits, the Trustees have a reasonable expectation that the company has adequate resources to
continue in operational existence for a period of al least 12 months from the date when the financial statements
are authorised for issue. For this reason, the company continues to adopt the going concern basis in preparing
the financial statements.
b. Reserves policy
Future reserves held by the charity are for the use of achieving the objective of advancing the education of the
general public and furthering the development of public appreciation in opera through the presentation of opera
and other dramatic. musical and performing arts.
Principal risks and uncertainties
As Nl Opera's main funder, the Arts Council of Northern Ireland continue to support the company financially.
Partnerships with key stakeholders, the Ulster Orchestra and the Grand Opera House, continue to develop.
Structure, governance and management
Constitution
The company is registered as a charitable Company limited by guarantee and was set up by a Memorandum of
Association on 17 December 2009.
The company is a registered charity number NIC101771.
The Trustee5 are responsible for the strategic management of the company.
Trustees are not paid and generally do not receive out of pocket expenses.
b. Methods of appointment or election of Trustees
The management of Nl Opera is the responsibility of the Trustees who are elected and co-opted under the
terms of the Memorandum ofAssociation.
SUMER
NORTHERN IRELAND
Page 6

Nl Opera
(A Company Limited by Guarantee)
Trustees, Report {continuedl
For the year ended 31 March 2025
Structure, governance and management (continued)
c. Risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the
operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate
our exposure to the major risks.
Plans for future periods
Our plans for 2025126 year and beyond are detailed below.
Seven Last Words of Christ
In April we showcased the Northern Ireland Opera Chorus and four soloists Mary Mccabe, Jenny Bourke, Euan
McDonald and Seamus Brady to perform Haydn's The Seven Last Words of Christ in with the Ulster Orchestra
at the Ulster Hall for Ihe Music for Good Friday programme.
Music and Creative Skills Workshops
April 21 to 25 Nl Opera hosted and created creative skills and education week events for children. This is a free
holiday scheme for children to be held at st John the Evangelist on the Falls Road. We provide a unique tailored
week of sessions all themed around Easter for children aged from 9-11 where they experience different creative
skills used to bring an opera to life and onto a stage, including singing, choreography, costume, props and
acting all led by our expert facilitators.
La Voix Humaine- The Everyman Theatre, Cork
Our production of Poulenc's one woman opera La Voix Humaine was produced with the Everyman Theatre in
Cork. This is the company's first time since before covid being invited to perform in the republic. The piece
starred Mary Mccabe and pianist David Quigley.
Feline Intimate- Meow Meow
International Singing Sensation Meow Meow returned to Belfast for one night only with Nl Opera direct from her
triumph at the Soho Theatre in London. Nl Opera's Artistic Director directs this one night only concert of
repertoire from Kurt Weill, Spoliansky and originals by Meow Meow at the Deers Head in Belfasl.
The 15th Glenarm Festival of Voice, August 2025
Nl Opera presented the 15th Festival of voice from 22 to 24 August. This included three free BBC Radio 3
recitals to experience, recorded live for national broadcast in September, an afternoon recital held at Glenarm
Castle and the weekend culminated in a vocal competition featuring four young singers from the i51and of
Ireland. Our competition Finale, which was hosted by our Patron, Sean Raffety. The singers compele lo win the
Deborah Voigt Opera Prize and become the Nl Opera Young Opera Voice of 2024. There was also a Song
Prize award and the Kathryn Harries Audience Prize, voted for by the audience during a short interval on the
night.
SUMER
NORTHERN IRELAND
Page 7

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the year ended 31 March 2025
Plans for futurè periods (continued)
Follies - Grand Opera House Belfast, Sept 2025
For the mainstage season, we present a Sondheim Musical- Follies. This piece will be performed in the Grand
Opera House Belfast. The cast of 38 performers in a mix of Wesl End leading artists, local stars and young
local artists making their professional theatre debuts with the company. Follies sees the return of the Orchestra
of Northern Ireland Opera now in its second year. The orchestra draws its players from the island of Ireland. We
launched the orchestra in 2024 on the production of Eugene Onegin to great acclaim. West End Music director
Greg Arrowsmith joined as the Music Director and Conductor of Follies. This production was a very important
piece for the company to present as we have not presented a musical since 2022 with the award-winning
production of Into the Woods. The company remains set up to produce opera, operetta and music theatre and
to explore the art of storytelling through music.
Pop Up Events and regional events 25126
The next year will see the company remain open and flexible to being able to respond to the sector and to
continue working with partners and sectoral partners such as Big Telly Theatre Co. Derry PlayHouse and
looking to collaborate with new partners such as Diva Opera lo provide more touring capabilities. We will
continue to create and produce pop up events and free summer concert series events al stunning and
unexpected venues across Northern Ireland such as the Palace Demesne in Armagh, The Merchant Hotel,
Glenarm Castle in Co. Antrim, The Harrison Chambers of Dislinclion, The First Church Belfasl and Bangor
Court House. We will also be creating pop up events foi the Maritime Mile to the Botanic Gardens.
Statement of Trustees, responsibilities
The Trustees (who are also the Direclors of Nl Opera for the purposes of company law) are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Truslees must not approve the financial statements unless they are satisfied that they give a true and fair view
of the state of affairs of Nl Opera and of its incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial statements, the Twslees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP {FRS 102}',
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, Subject to any
material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume 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'5 transactions and disclose with reasonable accuracy at any time the financial position of Nl Opera
and enable them to ensure that the financial statements comply with 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 detection of fraud and other irregularities.
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NORTHERN IRELAND
Page 8

Nl Opera
(A Company Limited by Guarantee)
Trustees. Report (continued)
For the year ended 31 March 2025
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit infomiation of which the charitls 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 audtt information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sumer Auditco NE Ltd, have indicated their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at 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 2025
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NORTHERN IRELAND
Page 9

Nl Opera
(A Company Limtted 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 2025 which comprise the
Slalement of Financial Activities, the Balance Sheet, the Slatement of Cash Flows and the related notes,
including a summary of significant accounting policies. The financial reporting framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its
incoming resources and application of resources, including its income and expenditure for the year then
ended,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audtt in accordance with International Standards on Auditing {UK) (ISAS (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charitable company in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriale to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
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NORTHERN IRELAND
Page 10

Nl Opera
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of Nl Opera (¢ontinued>
Other information
The other information comprises the infomiation included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial ststements does not Cover the other information and,
except to the extent othetwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing $0, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or othemise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that facl.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course ofthe audit:
the information 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 accordance 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 its environment obtained in Ihe
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit-, or
the Trustee5 were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the Trustees,
Report 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 Opera (continued)
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the Trustees (who are also the directors of
the charitable tompany for the purposes of company law) are responsible for the preparation of the financial
slalements and for being satisfied that they give a true and fair view. and for such internal control as the
Trustees determine 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 charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Trustees either intend to liquidate the ¢haritable company or to
cease operations, or have no realistic alleinative but to do so.
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that include5 our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISA5 {UKI will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial slatemenls.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to delect material misstalemenls in respect of
irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities.
including fraud is detailed below..
We considered the opportunities and incentives that may exist within the organisation for fraud and identified
the greatest potential for fraud in the following areas.. timing of recognition of income,. and posting of unusual
journals along with complex transactions. We discussed these risks with client management, designed audit
procedures to test the timing of income. lested a sample of journals to confirm they were appropriate and
reviewed areas of judgement for indicators of management bias to address these risks.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: www.frc.or
-uklauditorsres
Auditors, Report.
onsibilities. This description forms part of our
Use of our report
This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those malters we are required to state to them in an Auditors, Report and for no
other purpose. To the fullest extent permitted 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 report, or for the opinions
we have formed.
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NORTHERN IRELAND
Page 12

Nl Opera
(A Company Limited by Guarantee)
Independent Auditors. Report to the Members of Nl Opera (continued)
Brian Clerkin (Senior Statutory Auditor)
for and on behalf of
Sumer Auditco Nl Ltd
statutory Auditors
4th Floor
Glendinning House
6 Murray Street
Be￿ast
BT16DN
2 December 2025
SumerAuditCo Nl Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
SUMER
NORTHERN IRELAND
Page 13

Nl Opera
{A Company Limited by Guarantee)
Statèment of financial activities (incorporating income and expenditure a¢count)
For the year ended 31 March 2025
Unrestricted
funds
2025
Rèstricted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Donations and legacies
Charitable activities
Investments
Other income
101,910
110.336
2,108
82,108
602,566
704,475
110,336
2,108
82,108
789,514
170,179
2,524
109,575
Total income
296.462
602,566
899,028
1.071,792
Expenditure on:
Charitable activities
202,229
814.936
1,017,165
919,770
Total expenditure
202.229
814,936
1,017,165
919,770
Net incomel{expenditure)
Transfers between funds
94,233
1226,7301
(212,370)
226.730
{118.137}
152,022
12
Net movement in funds
{132.497)
14,360
(118,1371
152.022
Reconciliation of funds:
Total funds brought fO￿ard
Net movement in funds
168,591
{132,497)
168.591
1118,137)
16,569
152,022
14.360
Total funds carried forward
36,094
14,360
50,454
168,591
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 17 to 27 form part of these financial statements.
SUMER
NORTHERN IRELAND
Page 14

Nl Opera
(A Company Limited by Guarantee)
Registered number: N1601681
Balance Sheet
As at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
17,200
17,429
17,200
17,429
Current assets
Debtors
Cash at bank and in hand
10
8.138
70.496
110,350
91,701
78,634
202.051
Current liabilities
Creditors.. amounts falling due within one
year
11
{45.380)
(50,889)
Net Current assets
33,254
151,162
Total assets less CUTrent15abilities
50,454
168,591
Total net assets
50,454
168.591
Charity funds
Restricted funds
Unrestricted funds
12
14,361
36,093
12
168,591
Total funds
50,454
168,591
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparalion of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small Companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Mr R E Bailie CBE
Chair
Date: 2 December 2025
The notes on pages 17 to 27 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 2025
2025
2024
Cash flows from operating activities
Nel cash from operating activities
{11,7321
33,162
Cash flows from investing activities
Purchase of tangible fixed assets
(9,473)
(1,581)
Net cash used in investing activities
{9,4731
{1,581)
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(21.2051
91,701
31,581
60,120
Cash and cash equivalents at the end of the year
70,496
91,701
The notes on pages 17 to 27 form part of these financial statements
SUMER
NORTHERN IRELAND
Page 16

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Companies Act 2006.
Nl Opera meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy.
1.2 Going 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 existence for a period of at least 12 months from the
date when the financial statements are authorised for issue.
Accordingly, the trustees believe that it is appropriate to continue to adopt the going concern basis in
preparing the financial statements.
1.3 Income
All income is recognised once Nl Opera has entitlement to the income, it is probable that the income
will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advan¢e of entitlement of receipt. its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income 15 accrued.
Olher income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably.
Expenditure on charitable activities is incurred on directly undertaking the activities which further Nl
Opera's objective5, as well as any associated support costs.
Expenditure is analysed between restricted and unrestricted expenditure.
SUMER
NORTHERN IRELAND
Page 17

Nl Opera
{A Company Limited by Guarantee)
Notes to the Financial Statements
For the year endèd 31 March 2025
Accounting policies (continued)
1.5 Tangible fixed assets and depreciation
Tangible fixed assets are capitalised and recognised when future economic benefits are probable
and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model.
tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible fixed asset into its intended working
condition should be included in the measurement of cost.
Depreciation is provided on the following bases..
Plant and machinery
Fixtures and fittings
Office equipment
259/0 Straight line
25Q/o Straight line
25 % straight line
1.6 Debtors
Tiade and other debtors are recognised at the settlement amount after any Irade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.7 Cash at bank and in hand
Cash al bank and in hand includes cash and short-term highly liquid investments with a short
malurily of three months or less from the date of acquisition or opening of the deposit or similar
account.
1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that Nl Opera anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods 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 15 based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
1.9 Financial instruments
Nl Opera only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
subsequently measured at their settlement value.
SUMER
NORTHERN IRELAND
Page 18

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
Accounting policies {continued)
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of Nl Opera and which have not been designated for other
purposes.
Restricted funds are funds which 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 the notes to the financial statements.
Grants, donations and legacies
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Grant income
Partnership fundinglcontributions
Donations
Trusts
602,565
602,565
700
23,210
78,000
700,603
1,152
13,759
74,000
700
23,210
78,000
Total 2025
101,910
602.565
704,475
789,514
Total 2024
88,911
700,603
789,514
Income from charitable activities
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Box office receipts
Miscellaneous income
95,479
14,857
95,479
14,857
106,700
63,479
110,336
110,336
170,179
SUMER
NORTHERN IRELAND
Page 19

Nl Opera
(A Company Limited by Guaranteel
Notes to the Financial Statements
For the year ended 31 March 2025
Investment income
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Bank interest receivable
2,108
2.108
2.524
AnalysTs of expenditure on charitable activities
Unrestricted Restricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Core costs
Support costs
Other support costs- staff
620,727
229,640
620.727
229.640
166,798
572,242
198,603
148,925
166,798
Total 2025
166,798
850,367
1.017,165
919,770
Total 2024
172,690
747,080
919,770
Auditors, remuneration
2025
2024
Fees payable to Nl Opera's auditor for the audit of Nl Opera's annual
accounts (including VAT)
Fees payable to Nl Opera's auditor in respect of..
All non-audit services not included above
5,200
6,000
7,200
7,200
SUMER ::
NORTHERN IRELAND
Page 20

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Ststements
For the year ended 31 March 2025
Staff costs
2025
2024
Wages and salaries
Social security costs
Pension contributions
153,946
9,974
2.877
134,692
12,586
1,647
166,797
148,925
The average number of persons employed by the Nl Opera during the year was as follows..
2025
2024
No employee received remuneration amounting to more than £60,000 in either year.
Remuneration paid to key management personnel lotalled £56,000 (2024- £52.500).
SUMER
NORTHERN IRELAND
Page 21

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12024- £NIL).
During the year ended 31 March 2025, no Trustee expènses have been incurred {2024 - £NIL}.
Tangible fixed assets
Fixtures and
fittings
Office
equipment
Total
Cost or valuation
Al 1 April 2024
Additions
275
35,490
35,765
9,473
9,473
At 31 March 2025
9,748
35.490
45,238
Depreciation
Al 1 April 2024
Charge for the year
275
18.061
8.872
18,336
9,701
829
At 31 March 2025
1,104
26,933
28,037
Net book value
At 31 March 2025
8.644
8.557
17,201
At 31 March 2024
17,429
17,429
SUMER
NORTHERN IRELAND
Page 22

Nl Opera
{A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
10. Debtors
2025
2024
Due within one year
Trade debtors
Prepayments and accrued income
Tax recoverable
990
110,350
7.148
8,138
110,350
Creditors: Amounts falling due within one year
2025
2024
Trade credilors
other taxation and social security
other creditors
Accruals and deferred income
26,298
4.960
7,163
6,959
40,624
257
3,768
6,240
45,380
50,889
SUMER
NORTHERN IRELAND
Page 23

Nl Opera
IA Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
12. Statement of funds
Statement of funds - Current year
Balance at
31 March
2025
Balance at 1
April 2024
Transfers
inlout
Income Expenditure
Unrestricted funds
General Funds all funds
168,591
296,461
{202,229} (226,730)
36,093
Restricted funds
Restricted Funds - all funds
602,566
(814,935)
226.730
14.361
Total of funds
168,591
899.027 (1,017,164)
50,454
NORTHERN IREL4ND
Page 24

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
12.
Statement of funds (continued)
Statement of funds - prior year
Balance at
31 March
2024
Balance at
1 April 2023
Transfers
inlout
Income Expenditure
Unrestricted funds
General Funds- all funds
16,569
371,189
(172,690)
{46,477)
168,591
Balance at
31 March
2024
Balance at
1 April 2023
Transfers
inlout
Income Expenditure
Restricted funds
Restricted Funds - all funds
700,603
{747,080}
46,477
Total of funds
16,569
1.071,792
{919,770)
168,591
SUMER
NORTHERN IRELAND
Page 25

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restricted
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Current assets
Creditors due within one year
17,200
64,273
145,380)
17,200
78,634
{45,380)
14.361
Total
36.093
14,361
50.454
14. Reconciliation of net movement in funds to net cash flow from operating activities
2025
2024
Net incomelexpenditure for the year {as per Statement of Financial
Activities)
1118,137)
152,022
Adjustments for:
Depreciation charges
Decrease in debtors
Decrease in creditors
9,701
102.212
{5,508)
5,810
185,483)
139,187)
Net cash provided byl(used in) operating activities
(11,732}
33,162
15. Analysis of cash and cash equivalents
2025
2024
Cash in hand
70.496
91.701
Total cash and cash equivalents
70,496
91,701
SUMER
NORTHERN IRELAND
Page 26

Nl Opera
(A Company Limited by Guarantee)
Notes to the Financial Statements
For the year ended 31 March 2025
16. Analysis of Changes in net debt
At 1 April
2024 Cash flows
At 31 March
2025
Cash at bank and in hand
91,701
(21,205)
70,496
91,701
(21,205)
70,496
17.
Related party transactions
The Nl Opera has not entered into any related paty transaction during the year. nor are there any
outstanding balances owing be￿een related parties and the Nl Opera at 31 March 2025.
SUMER
NORTHERN IRELAND
Page 27