TAYSIDE OPERA
For the Financial Year Ending 30" June, 2025.
## Treasurer’s Report
## Presented at the Annual Gencral Mecting— 14" September, 2025
## 1. Introduction
As Treasurer of TAYSIDE OPERA, I am pleased to present the financial report for the year ending 30" of June, 2025. This year has been both challenging and rewarding, as we negotiated the technical, operational and artistic resources needed to performa fully staged production in a era of relatively high inflation, while also continuing to fulfill our gencral mission of promoting opera and supporting access to high-quality performances in our community.
## 2. Overview
The Society is currently in a generally stable financial position as result of careful budgeting and generous support from members, donors, and grant organizations. There was a modest surplus recorded at the end of our accounting year before our final expenses for the Nabucco performance season were debited (see concluding notes on page 4). Our charitable status continues to facilitate tax-efficient giving and strengthen relationships with those trustees, patrons and individuals who financially support our collective activities and aims.
## 3. Statement of Balances
The following summary denotes the income and expenditure during Tayside Opera’s 2024 and 2025 accounting years. Our main events comprised a winter concert and a patrons event in 2024 and fully staged performances of Verdi’s Nabucco in May/June 2025, the latter was presented in both Brechin and Dundee.
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Opening Balance £28,498 £24,061 Po
Total Payments £26,417 £25,279 £1138
Closing Balance £29,139 £641
Surplus/(deficit) £641 £4,437 - £3796
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## 4. Income Summary
Income from membership fees and ticket sales increased in the 2024-25 scason, indicating continued community support for our activities. There were fewer donations from patrons and trusts in this period, perhaps reflecting challenges in the wider cconomy. Ticket sales increased, however, and is an encouraging endorsement of our programming choices and performance standards. Our fundraising has shown improvements as our membership has increased and, once again, Gift Aid has been an important contributor, having also increased in the 2024-25 season.
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|Income|
|Events|Income|
|Box|Office|Sales|9,000.86|
|Events|Income|-|Other|875.01|
|Total|Events|Income|9,875.87|
|Fundraising|Activity|
|CD|/ DVD|Sale|45.00|
|Fundraising|Activity|- Other|432.50|
|Total|Fundraising|Activity|477.50|
|Gift|Aid|1,000.65|
|Gifts|and|Donations|Income|9,827.00|
|Membership|Dues|3.170.50|
|Patron|Membership|1.260.00|
|Programme|Sponsorship|425.00|
|Rehearsal|Refreshments|111.00|
|Score|Resale|910.50|
|Total|Income|27,058.02|
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## 5. Summary of Expenses
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|---|---|---|---|---|---|
|,|
|Expense|
|Books|and|Publications|1,020.40|
|Costumes|&|Props|
|Costume|Hire|569.80|
|Costumes|&|Props|- Other|740.03|
|Total|Costumes|&|Props|1,309.83|
|Equipment|Rental|
|Orchestral|Scores|550.00|
|Equipment|Rental|- Other|20.00|
|Total|Equipment|Rental|570.00|
|Gifts|and|Donations|-70.00|
|Insurance|274.09|
|Office|Supplies|33.63|
|Postage|and|Delivery|35.10|
|Printing|and|Reproduction|
|Programme|Printing|617.87|
|Printing|and|Reproduction|- Other|500.97|—|
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Total Printing
1,118.84
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## Summary of Expenses continued
|Professional Fees|||
|---|---|---|
|Director / Producer|800.00||
|Graphic Design|250.00||
|Orchestra|8,683.00||
|Stage Managers /ASMs|225.00||
|Surtitling Costs|800.00||
|Talent Fees - Permanent|2,741.00||
|Talent Fees / Exp - Seasonal|914.03||
|Total Professional Fees||14.413.03|
|Publicity & Advertising|||
|Press Advertising|62.06||
|Programme Advert / Flyer|110.00||
|Society Fayre Stall|100.00||
|Total Publicity &Advertising||272.06|
|Staging and Production|||
|Presentations|97.04||
|Projections|75.00||
|Set Hire|150.00||
|Set Materials / Equipment|126.00||
|Set Moving / Stage Handling|810.00||
|Stage Lighting|1.404.36||
|Staging and Production - Other|102.94||
|Total Staging and Production||2.765.34|
|Subscriptions||729.44|
|Supplies|||
|Concert Hospitality Purchases|464.54||
|Raffle Expenses|46.17||
|Total Supplies||510.71|
|Telephone|||
|Mobile|12.50||
|Total Telephone||12.50|
|Venue Hire|||
|Rehearsal Space|1,320.00||
|Venue Hire - Performance|2.102.50||
|Total Venue Hire|3,422.50||
|Total Expense|26,417.47||
|Net Ordinary Income|$40.55||
|NetIncome|640.55||
## Expenses were managed diligently, with the majority directed toward core artistic activities.
We continuc to bring opera to new and diverse audicnces and we provide opportunities for stagecraft / performance experience to student groups, undergraduate and postgraduate musicians and singers, and members of the wider community. a
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## 6. Surplus and Reserves
The Society ended its accounting year with a net surplus of £641, which has been allocated to our general reserves. Our reserves at the end of our 2025 accounting year (June 30") stood at £29,139. Please note that, operationally, a smaller reserve will be carried forward, after late expenses (Brechin venue costs)are deducted. £28,263 will be carried over to the 25-26 season.
This remains in linc with our main reserves objective which is to hold sufficient operating expenses to a) promote wider community engagement through representation at, for example, student society events b) take us successfully to our next ticketed performance event and c) project safely to our main annual production.
## 7. Compliance and Governance
The Society remains compliant with all Charity Commission requirements. Our independent examiner/audito A C18 will review our accounts prior to their submission to OSCR. OSCR reports for our year ending June 2024 were successfully lodged last year.
## 8. Acknowledgements
I would like to thank our members for their continued support, our donors and sponsors for their generosity, and my fellow committee members for thcir diligence in managing the Society’s finances. Special thanks to our president who has carefully logged day to day transactions and tirelessly promoted fund-raising activity at every rehearsal and every performance event.
Our thanks, too, to everyone front of house, including our team of voluntecrs who have assisted behind the scenes with refreshments, ticketing and with box office assistance.
Our costume and props team have done a superb job, within a modest budget. Their creativity and resourcefulness has been vital to the quality of our main production in 2025, Nabucco, which has been widely acknowledged as an artistic success.
The technical and production team also provided us with a highly effective performance environment which fell within the compass of our available resources.
## 9. Conclusion
We are well-placed to continue our activities in the coming year. Under the expert guidance ofour Musical and Artistic Directors, our committee have carefully considered our opera choices for the 2025 season and beyond.
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While we remain cautious, given the ongoing financial commitments associated with live performance generally, and opera in particular, we are confident in the Society’s ability to sustain its mission through prudent financial management and strong community engagement.
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Tayside Opera SC 004938
rad (FA yaa P
Woy ee
ff \ iC ( R Receipts and payments accounts
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Section A Statement of receipts and payments
Unrestricted Restricted «-EXPendable = Permanent =Total funds Total funds last
funds funds funds funds current period period
to nearest £ to nearest E to nearest £ to nearest £ to nearest £ to nearest£
Ai Receipts
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Grants a
Receipts from fundraising activities | | a |
income from investments other than
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Rents from land & buildings Po ee |ee
Grosseamesreceipts from other charitable a
At Sub total| “27.08- | | ee
A2 Receipts from asset &
investment sales
Proceeds from sale offixed assets |
Proceeds from sale of investments | |
A2 Sub total] __-|
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A3 Payments
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AS Sub total EC |
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## APPENDIX 2
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Section B Statement of balances
Categories Details Unresticted Restricted funds Expendableendowmentfunds endowmentPermanentfunds berm ‘Totallast period
to nearest £ to nearest £ to nearest £ to nearest £ to nearest £ to nearest£
paymentlus/ (deficit)eurshownon receipts. and pe|
Cash and bank balances at end of year |29139 - fe | 28498 [-]
(Agree balances with receipts and payments
eccount(s))
Details Fund to which asset betongs Market valuation Last year
to nearest £ to nearest£
- =— —
Total
Details Fund to which asset betongs Cost(Ht avatabiey §— CuTENt value (tt Last year
- to nearest £ to nearest £ to nearest£
= =
Total
Details Fund to which Habiltty relates Amount dua Last year
B4 Liabilities creditor (venue hire outstanding) to nearest £ | to nearest£
Tota To
Details Fund to which (ability relates Amount{ dus) Last year
to nearest £ to nearest£
— — —
Total
Signed by one or two trustees Date of
on behalf of all the trusteesBoSignature* Print Name
* Please note - OSCR will accept digital or typed signatures
Copy of Trust e s AR Ap2 excel.xs / Statement of balances 2 a
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SC 004938
## APPENDIX 2
## Section C Notes to the Accounts
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C1 Nature and purpose of : :
funds (may be stated on All funds held by the charity are unrestricted.
analysis of funds worksheets) |The purpose of the charity is to promote the performance of opera in
the Tayside Region and provide opportunities for musical performance
and stagecraft experience.
Type of activity or project supported neve —oe £
— a—<= Total
C3a Trustee remuneration If no remuneration was paid during the period to any charity trustee or person connected to a
trustee cross this box (otherwise complete section 3b)
Authority under which paid £
C3b Trustee remuneration - Repetiteur and accompanist - rehearsal and concerts
details ee
C4a Trustee expenses If no expenses were paid to any charity trustee during the period then cross this box
(otherwise complete section 4b)
Number of £
trustees
C4bdetalles Trustee expenses - WebsiteBar supplies subs / concert costs and and showspublicity rere aee
Performance
Costumes week raffle ee
and props 2
Printer ink, stationary, music & program print i | 740
Transaction Balance
Nature of relationshi Nature of transaction amount (£) outstandingriod end at
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C5 Transactions with trustees and connected persons 7 Be
APPENDIX2
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## Additional analysis (1}
Analysisof receipts and payments
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1 Grants
Unrestrictedfund
fund
to nearest £ £
_
| 1500
[2000 |
[1000 _|
i000
|__ 1000 1000
a
Total Grants
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Unrestrictedfund Total current Totallast period
to nearest £ £ to nearest £ to nearesté£
_ eS 5 ee eee
| 1500 a |
[2000 | [2500
[1000 _| [1000|
i000
|__ 1000 1000 P1000 |__toco|
a | [1000
Total Grants ed | 11700 -
2 Donations (see Patrons below) and (3) Gross receiptsfrom other charitable activities
Unresticted Restricted funds. Expendableendowmentfunds endowmPermanfunds en tt ed Totaltast period
to nearest £ to nearest £ to nearest £ to nearest £ to nearest £ to nearest£
Psi
[310 ee
a -| [sat
| ee |ee
| soot |ed [sor] | |
ptr ae
a p77
Total 17231 - 17231 =}- | 16216 ~*~
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4 Payments relating directlyto charitable activities Expendable Permanent
Unrestrictedfunds = Restricted funds © endowmentfund: endowmentfunds —«“ otalperiod current” yastest poriod
to nearest £ to nearest £ to nearest é to nearest £ to nearest £ to nearest£
ps es |ee |
| ee | ee ee
1310 a | |__|
ee es |ee
| 2708 a |ee eee
st es |ee | eee
ee ee ae
| a8 Pp |
| SS a |ee |ee
Total a ae |es |eee | [25279]
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Copy of Trustees AR Ap2 excel xdsAdditional notes (1)
APPENDIX2
sc 004938
## Additional analysis (2)
§ Breakdownof unrestricted funds
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|---|---|---|---|---|---|---|
|Total|Total|
|unrestricted|unrestricted|
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|Net receipts /(payments)|[| [IC|Ide|oe]|
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|Surplus|/(aeticiy) for|yar|[TT)(Cded|ee)|
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Copy of Trustees AR Ap2 excel.xisAdditionalnotes (2)
0109/25
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## Tayside Opera Balance Sheet As of June 30, 2025
||Jun 30, '25.|
|---|---|
|ASSETS||
|Current Assets||
|Current/Savings||
|Tayside Opera c/a|29,139.07|
|Total Current/Savings|29,139.07|
|Total CurrentAssets|29,139.07|
|TOTAL ASSETS|29,139.07|
|LIABILITIES&EQUITY||
|Equity||
|Opening Bal Equity|28,498.52|
|Net Income|640.55|
|Total Equity|29,139.07|
|TOTALLIABILITIES&EQUITY|29,139.07|
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## **Tayside Opera**
## **External Scrutiny Report for Accounts 2024-25**
Accounting reports for the year ending June 30, 2025 were submitted to FCIB following the Society AGM on 14 September 2025.
All documentation was examined and no irregularities were identified. Each item of paperwork was physically signed off by on 09/11/2025.
The examined accounts were presented at EGM on 16/11/2025 and duly adopted by the membership of Tayside Opera at that meeting.
This report has been submitted with all examined documents to OSCR on 2/12/25
Signed