Friends Of Diva Opera Limited - Charities report

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

FRIENDS OF DIVA OPERA LIMITED

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Balance Sheet

6

Notes to the Financial Statements

7

to

9

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with

the financial statements of the charity for the year ended 31 December 2019. The trustees have adopted the provisions

of 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)

(effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objects of the charity as set out in the governing document

To educate the general public in the dramatic and operatic arts and to further the development of public appreciation and

taste in opera particularly through assisting Diva Opera and to assist and further such charitable institutions and

charitable purposes as the trustees shall from time to time determine.

Main activities undertaken in relation to those objects

The charity makes donations to Diva Opera, enabling it to provide opera performances for charitable and other good

causes. It also enables Diva Opera to participate in music festivals, and generally supports Diva Opera in staging

performances.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on

public benefit when reviewing the Society's aims and objectives and in planning future activities and setting the grant

making policy for the year.

POLICY STATEMENTS & FINANCIAL CONTROL

Risk management

The trustees discuss risks informally from time to time.

Written investment policy

The charity considers it needs no policy; all funds are held in the charity's bank accounts and the charity makes no

investments.

Conflict of interest

The charity has no formal policy; the trustees have no financial, business, employment, or similar relationships with Diva

Opera.

Written complaints policies

The charity has no policies as its functions generate little risk of complaints. The charity has never received a complaint.

Written policies on paying staff

The charity has no policies as it does not employ staff.

Data protection

The charity has a written joint data protection policy with Diva Opera, and it may be found on the Diva Opera website.

Review of financial controls during the financial year

The charity has simple financial activities (principally receiving donations and making donations to Diva Opera) and

monitors the charity's controls but carries out no formal reviews. Also see the heading "Financial Review".

ACHIEVEMENT AND PERFORMANCE

Main achievements of the charity during the financial year

The charity supported a number of registered charities and good causes during the year, by buying opera performances

(or partly supporting the cost of those performances) from Diva Opera for those charities and good causes thereby

enabling them to sell tickets to the performances and raise funds for themselves. These were: Lord Laidlaw's schools

project; Pelican Cancer: Fingest Great Barn Opera (Action Medical Aid and Child Bereavement UK; C Llewellyn (Marie

Curie Cancer and Live Music Now); MASIC.

The charities supported Diva Opera by making donations towards the cost of making costumes etc., the storage of props

and costumes, employment of professionals such as directors and costume makers, running Diva Opera's lorry used for

performances.

FINANCIAL REVIEW

Costs

The charity's cost are minimal, comprising almost entirely accounting advice.

The charity has a policy of not remunerating trustees for their services.

The charity has a policy of not reimbursing trustees' expenses, other than occasional minor administrative expenses.

The trustees occasionally accept free tickets to events which the charity has supported by way of donations.

Source of income and acknowledgements

The Charity reports net incoming resources for the year of £22,616 (2018 : £10,312 net outgoing resources) and an

increase in total funds at 31 December 2019 to £32,704 (2018 : a decrease in total funds to £10,088).

The Charity's main source of income was Lord Laidlaw. The trustees would like to express their gratitude for his

generosity.

The trustees are also grateful for the support of the members of Friends of Diva Opera and others for their financial and

practical support.

Financial policy

The charity's policy is not to invest its funds but to hold them in its bank accounts in order to access the funds at short

notice.

The charity does not have a general policy of building up or holding significant reserves long term.

The charity holds over some money in its bank accounts from year to year, to act as a float that Diva Opera may call

upon in the first few months of the following year before the charity's funding comes in.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Details of the governing document

Memorandum and articles of association incorporated 20 September 1999 as amended by special resolution 23

February 2000.

Method of recruitment and appointment of new trustees

At any one time the charity has three trustees.

The charity does not actively recruit new trustees.

The charity has replaced one trustee during the life of the charity.

The charity has a policy of not appointing anyone who has been adjudged bankrupt, has been convicted of a criminal

offence involving dishonesty or is otherwise disqualified from holding a position as an officer of the company, or who has

a professional conflict of interest with the charity or with Diva Opera.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03844156 (England and Wales)

Registered Charity number

1079878

Registered office

1st Floor

Puerorum House

26 Great Queen Street

London

WC2B 5BL

Trustees

Mr P H Gillard Chairman & Trustee

Mr A J Nickels Trustee

Ms W L Verco Company Secretary & Trustee

Company Secretary

Ms W L Verco

Independent Examiner

Jeremy Hyde FCCA FCA

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

Approved by order of the board of trustees on 2 May 2020 and signed on its behalf by:

Mr P H Gillard - Trustee

Independent examiner's report to the trustees of Friends Of Diva Opera Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2019.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for

the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act

and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried

out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the

Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the

examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should

be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jeremy Hyde FCCA FCA

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

10 July 2020

2019

2018

Unrestricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

190,947

195,260

Other income

23

17

Total

190,970

195,277

EXPENDITURE ON

Charitable activities

3

Opera performances

166,300

203,500

Governance costs

2,054

2,089

Total

168,354

205,589

NET INCOME/(EXPENDITURE)

22,616

(10,312

)

RECONCILIATION OF FUNDS

Total funds brought forward

10,088

20,400

TOTAL FUNDS CARRIED FORWARD

32,704

10,088

2019

2018

Unrestricted

Total

fund

funds

Notes

£

CURRENT ASSETS

Cash at bank

34,684

12,068

CREDITORS

Amounts falling due within one year

8

(1,980

)

(1,980

)

NET CURRENT ASSETS

32,704

10,088

TOTAL ASSETS LESS CURRENT LIABILITIES

32,704

10,088

NET ASSETS

32,704

10,088

FUNDS

9

Unrestricted funds

32,704

10,088

TOTAL FUNDS

32,704

10,088

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act
2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 2 May 2020 and were
signed on its behalf by:

Mr P H Gillard - Trustee

Ms W L Verco - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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) (effective 1 January 2019)', Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is

probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the

charity to that expenditure, 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 is accounted for on an accruals basis and has

been classified under headings that aggregate all cost related to the category. Where costs cannot be directly

attributed to particular headings they have been allocated to activities on a basis consistent with the use of

resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment

but not accrued as expenditure.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

2.	DONATIONS AND LEGACIES

2019

2018

£

Donations

152,364

191,402

Gift aid

38,583

3,858

190,947

195,260

3.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

(see note

costs (see

4)

note 5)

Totals

£

Opera performances

166,300

-

166,300

Governance costs

-

2,054

166,300

2,054

168,354

4.	GRANTS PAYABLE

2019

2018

£

Opera performances

166,300

203,500

The total grants paid to institutions during the year was as follows:

2019

2018

£

Diva Opera

166,300

203,500

5.	SUPPORT COSTS

Governance

costs

£

Governance costs

2,054

6.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2019

2018

£

Independent Examiner's fees

360

Independent Examiner's fees - other services

1,620

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2019 nor for the year

ended 31 December 2018.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2019 nor for the year ended

31 December 2018.

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Accruals and deferred income

1,980

9.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.19

in funds

31.12.19

£

Unrestricted funds

General fund

10,088

22,616

32,704

TOTAL FUNDS

10,088

22,616

32,704

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

190,970

(168,354

)

22,616

TOTAL FUNDS

190,970

(168,354

)

22,616

Comparatives for movement in funds

Net

movement

At

At 1.1.18

in funds

31.12.18

£

Unrestricted funds

General fund

20,400

(10,312

)

10,088

TOTAL FUNDS

20,400

(10,312

)

10,088

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

195,277

(205,589

)

(10,312

)

TOTAL FUNDS

195,277

(205,589

)

(10,312

)

10.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2019.

11.	COMPANY LIMITED BY GUARANTEE

The liability of the members is limited. Each member undertakes to contribute such amounts as may be required

(not exceeding £10) to the charity's assets if it should be wound up during or within one year of cessation of

membership to meet the company's liabilities.

Friends Of Diva Opera Limited - Charities report - 20.1.6

Friends Of Diva Opera Limited - Charities report - 20.1.6