EST. 1940 PRODUCTIONS IAfflI1gd toth• Natk*nal Op•Mth DrnmatloA••ocl•tlon ANNUAL REPORT AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2021
CONTENTS Le8al andAdmlnt5tratlve Detslls Management Comrnittee'5Report Statement of Management Ccthmlttee's Ae¥bJnsibiSies INleperMtent Examlns Report Co¥ld 19 Statement Oyrnting Statement BJlanoSheet Notestothe ACcots Page: 2
(Iffi totheNaltyIOp•rI Dr4Th1rAxrKSJSJnl LEGAL AND ADMINISTRATIVE DEfAILS TheoperthoftheietyiscurrenltygrwneO byer¥ttion approved3t kneVsAnnualGerral I cffl IlrtJ4ne 1993. The purpjse cl the Scoety Isto edut* the in the dmatic aThJ oper3tk tytoffvthedevekynentof wMtaPW•tion3Trdtsste in the saidart4 adt0 assistandfurthv9Jch chartkblt OrtutIOnS affld tharttsbje wrpx&TheSwaety 15 recwi5edas a th• bytheScotti5h Charibes 01fft4 IILThberSC0131 Commlttee Members 5ochty (YfK• Ind•p•tht Eumlner Bank•rs kofknlland Upperlhtrlate Dran¢h terthen lyl Ath5er Page., 3
PAQDUCTb¢ti* bth&NalhTd MANAGEMENT COMMITtEE'S REPORT AOC Produrtions were well underway the prc<ess ¢rfpreparingto perfom) Guys oftd Do115 In 2020 a5 well as plannlng a concert to ebrate the 80th anniversary of the Company. Unfortunately, all aCtity was cancelled due to the COVID-19 outbreak and all tickets 5ale5 were refunded to tFh)5e who had already purchased In 8d faith, ahead of the planned June 2020 pErforMan. Iniliallythiswas rescheduled to 2021, howwerhad to be latercancelled dueto uncertalnty Over1 duration of pan(kmlcrestrirtMMs. The Compary kept erwa8ement through weekfy online qulzze5, onllne show scrlpt read thrJgh5 aNI the prodLKlion of a rtUal thoir perfOrmae of a °Peoce und Love Medle¢; which was then iele UEh 31 medla at CMstma5. A huge thank you 8oe5 to nd Rlght Here Prodwtlons for oanisnI and edltlng the video. We were also saddened to leam of the rosslnE was a stalwart of the Company formany years bothon stl8e and in her SUPPDrt forthe Company In her lateryears. will be sorely rrlssed. The Committee asked the permlssk)n farnilyto create an award In her honour to be awarded each year to a Company member whocan demonstrate Sklrlt In the way theycondwtthem5elve A challenOry year for all In the arts, and Atx Produdlons wlll enl(ry a retum to rehearslng and pertormln£ In person as 500n as restrfctlons allow. Pag8:4
PAot*VCTION STATEMENT OF MANAGEMENT COMMITfEE'S RESPONSIBILITIES The Compary Law Refomi Imiscellarthus Provisior61 Iscodandl Att 1990 reqLNres the Management Commltteeto preparefinanclal statements fore7Kh financial year which give a true and fair view of the state of affairs of the AOC Productions (the "Companfl as at the end of the financial year and of the surplus or (kficlt of the Compary for that peilod. In preparfwthose flnancial ststements, thÈ Managernent Committee are required to; 5electsuitable accounlnR pollcks and applythem conslstent makEjudgernents and e51imatesthat are reasonatle and prudent prepare flnanoal ststements onthe going concem basi5 unles5 it 15 liketythat the Qjmpany is not able to realise its assets orsettle itsfinanclal liabl1esastheY fall due. The Management Commtttee ts responsitrde keep1 proper a¢countlng records whlch dlsd05e with reasonakle accuracy atany tltne, of the financial posltlon of the Compary, and whlch enables It to ensure that the financial slatements comply wth the Charitles Accourts (knilandl Regulations 1992. The CntIng records comprSse,' all financial IransacU(ms of monies recefved and expended bythe Company, the rTratters In respect Wh1th the reolpl andexpenditure relateto andtransartiMsaffectiw theas5ets and Ilabilitie5 ofthecompary, The Management Commlttee L$ abo re5ponsitle for safeguardng the assets of the Company and hence for taklng reasonable steps for thè weventlon and detertion of fraud and other Irregularities, Page.. 5
PRC*DUCTIONS INDEPENDENT EXAMINER'S REPORT TOTHE MEMBERSOF THE AeERDEEN OPERACOMPANY PRODUCTIONS I report on the fiianaal ststements and related notes, for the yearended 31 March 2021 set Olrton pages 8 to 12. As described on page S, the Company's Management Committee is responsib for the prepar4ts.on of the financial statements and related noles. It15 my Te5pon5itNlity to carry out procedures deSned to enable me to report rrty oplnlon. My procèdure5 con515ted ofcomparln8 the accounts withthe accountlng records kept the c(PanY and maklng such lImed enqu15 of the Management Committee ol the Compary 85 I c(51dered necessarytoeTrable mèto provide myopinlon In thi5 report.These prdreS only provide the assuran5 wres5ed in my opinion. These PedureS do Mt constitute an audit but take the fomi of a rvlew only. Accordinaty, I do not express an a1r( opinion wllh ard to the financial staternents aThJ related notes for the year ended 31 March 2021. Therefore, my report doe5 not provlde atry a55urance5 that the accountlng records and the nclaI 5tstsments are free from material misstatement. In myopinlon the lance Sheet, Operating Statemert aThJ related notes have been prq)er prepared from the record5 ofthe compary and are in a8reementtherewlth and compty wSth the Charittes Accounts (Scotlandl Regulalons 1992. and the CompanV5 corstitulion. I drdw attention tothe COVIL>19statementaccompanying these financial statements, on page 7, as ppared the Independent Examiner Date: Page: 6
COVID-19 STATEMENT The COWD.19 pandern developed rdpId in 2020 and tecause of the puMOn5 and measures trn by the health athhorities In conjunctTon ¥th the kottish Parllatmt, t pact on thescotbsh population wascontsined as much as possible. The resulting impact of Ihe virus on the activilies of Ihe PlU10nS (the 'Comparfl has caused a material negative affect dutirva thefnandal year ded 31 Maich 2021. The Company has Incurred a complete ce5satlon in the Serv1 It ofvs as a clbarftyand thi5 hastontributed to a finarKlal Impairment in its accounts lor yearended 31 Marth 2021. Because of the strength of the CompHnyts bank balae and the deterMInaon, (kdication, and support of those Involved with the charrty there is no material untertsinty that may cast *nificant dwbt upon the Company's abllltyto Cnue as a 8dn8 concern. There are M events or condlllon5 arf51ni that may cast sigrificant doubt upM whether the Compary will reilise its assets or settle Its liatiiitles In the ordlnary course of buslness at the amounts recorded kn the financial Statements. Based on the clrcumstsnces desulbed abo¥E. the linancial statements are prepaRd on the basis thatthe Company is a Gc4n8 Concem. P8g8: 7
pprDIS¢TIONb ABERDEEN OPERA COMPA14Y PRODUCTIONS OPERAnN6 STATEMENr For12 monthsended 11 Mavch 21Ql Iye¥kn53I Marth l)Xll Sppnsorg toThtributiDn5lrelunWrtteipts riCket1[Wls11rQC•pts mr$,55ipknn$ fvnd raisia¢bel muchntse&Proys (refLdedre¢Qts 58,191 155 1056 14.W) 1.697 75
•koDucTIOWS ABERDEEN OPERA COMPANY PRODucfioNS BPIAIKESHEEr as•t31 Marth 2021lyev1omr3I Matth Cash In bank Debtors Totsl(unent•mts 57,452 $6,649 1,196 52 CUknENfuABllmES Totsl(uThentlknbllltt•i NETCURRENTASSETS 57,452 Funded by. RESERVES OpeNn8 Resenw DEffi0ttranerdfrncra1Ifig Stslement 57,845 13931 IL9811 Date: tsL2024 Page: 9
•DDUCTIOM5 NOTES TO THE HNANaAL STATEMENTS L AtIrPol Th? financial statements are prepared in accordance wlth applicable accoun8 stsndards. The partIcularaOunllng polic adopted are described lfA¥. The financlal statements are prepared Under1 hlstorkal aist convenlion. Dwreclutlop oftonalbkfvedossets ljeprecldtion is provided on all fixed assets ata Rteof 25%straight Ilne. 2. C•th tn tsnk Cash heldln bank 57,452 56.649 nk totsl 57A52 5&649 Cash hdd In the bank acc(ntI$ wlth a AQA related tOUntearty. The Cornpary holds Its Ilquid funds in a busIsS current account. The Compary does t operate an interest. bearingdepot1ccCUIt ftylts surplus cash. 3. D•btorJ Tradedebiors L196 Cbtorstotsl Ll96 A trade debt falling due In the year ended 31 Marth 2020 but uncollected at that date, has been written back agairLSt Sponsorf5 Contribjtions in the cuirent year. Due to the covld pandemicthls debt wa5 uncollectable duringthe yearended31 Maich 2021. Pag8:10
PAODlbC71011S NOTES TO THE FINANCIAL STATEMENTS {Continuedl 4. Fun& R¢¢¢Pnd The covid wndemic resubted in a complete sSatIon of OFeratiOn5 for the Company In the yearerKled 31 March 2021.5ome monies receSved in 2020forevents (k*to bestaged in 2021 were refunded. The Cornpanyhad nosOUr of Tevenuedurlngthe Èntlrety of yearernled31 March 2021. Thetrtal amount refLmded in the year amounted to£3,14412020 £64525 7ved) Prcduthonc05ts repTesentthosecost5 IrKurredtoprepareforandexecute mu51calevents durlngthe year.Thesecosts can include, but are not limitedto, item5 such as: wardrobe5, 0Stume5, sound system4 hlre of venues, acqulTlng muslcal scffes, refre5hmentS, C05ts to produce wogrammes and mettharrflise, video productlons, technlclarb. The coyldpandenc resulted IDtheCompany bdng unable, bylaw,to prowde any musital service5 duringthe year. Some prlurt1(¥j related tosts were unavo1dab3nd inltablY incurredfoi prewanned prcductions, as follows: Shk AOCP &JhAnri¥otsary ball, G5 & Ddl$lfanlledI Hire of rehearsa5 hal GeneTal- unallocated L278 511 541 38 3078 Totalfothdprovldlw Prnduthnslnth• he Carnpww celebratEd it58rth ann[sary r8 2020 Ir(anld an Annwsdy Oal th rte¥Ènt PagB: 11
P*OOUCTIOMS NOTES TO THE FINANCIAL STATEMENTS (Continued) & Athnln15tratknCos15 inistrntio 14,8071 L697 Admlni8tratron costjtotsl L697 Duringtheyearended31 Marth 20211 su¢xe55hd insurancedalm resulted ina cashcredlt of £6,302.25 belng recelved lrto tts bank acts)unt. The claim was against damages sustalned by the Company in the year arlslng fromthe effect of the cov119 pandem14 and Mt bwng ableto provideany muslcal emrIenceS. 7. Rd•tsd PatyTTrnsaths Therewere no related partytTansactionsduringtheyearended 31 fvlarch 2021131 March 20ZO £0) Page:12