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Laidlaw Opera Trust

Registered charity 1175245 · accounts filings on the Charity Commission register · also known as LAIDLAW FOUNDATION, THE IRVINE LAIDLAW FOUNDATION, THE LAIDLAW FOUNDATION

Laidlaw Opera Trust champions live music as a uniquely thrilling art form accessible to all. We invest in opera companies and houses who believe that opera should be part of everyones cultural capital. Through strategic support and grants, we aim to expand Operas reach and self-sufficiency.

Causes: General Charitable Purposes · Education/training · Arts/culture/heritage/science · Grant history (this charity is a funder) · Get email alerts

Latest income
£5.3m
Latest spending
£2.4m
Registered
2017
Accounts read
FY2022

Financial health, per its FY2022 accounts

The accounts state that the charity has negative unrestricted reserves of £4,680,746 due to future grant commitments. However, the Trustees confirm that these commitments will be met by donations from the sole sponsor, Lord Laidlaw of Rothiemay, and sufficient funds are available to continue trading until the charity is wound up in 2023.

Automated summary of the FY2022 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Largest income source: Highland Group Holdings Ltd (100% of income)
“Donations and gifts Highland Group Holdings Ltd 8,085,230”
Per its FY2022 accounts as filed with the Charity Commission.
Reserves position: below the charity's own stated reserves policy (held: £-4.7m; policy: minimal reserves)
“The Foundation holds minimal reserves as all its funding is derived from its sole donor, Lord Laidlaw of Rothiemay, and this is provided as the Foundation's pre-agreed commitments arise.” — page 12
Per its FY2022 accounts as filed with the Charity Commission.
Going concern: accounts NOT prepared on a going-concern basis (closing, merging or winding up)
“It is the intention of the Trustees to set up a Swiss Foundation in 2023. The trade and assets of Laidlaw Foundation will be transferred to the new Foundation in 2023 at which time this charity will be wound up and struck off.” — page 13
Per its FY2022 accounts as filed with the Charity Commission.
Related-party transaction: Donations received from Highland Group Holdings Ltd, a company wholly owned by Trustee Lord Laidlaw of Rothiemay.
“During the year the Foundation received donations of £8,085,230 (2021: £10,249,163) from Highland Group Holdings Ltd, a company wholly owned by Trustee Lord Laidlaw of Rothiemay.” — page 29
“At the year end, a balance of £67,660 (2021: £67,660) was owed to the Foundation by Specialised Transportation Ltd.” — page 29
Per its FY2022 accounts as filed with the Charity Commission.
Related-party transaction: Balance owed to the Foundation by Specialised Transportation Ltd.
“During the year the Foundation received donations of £8,085,230 (2021: £10,249,163) from Highland Group Holdings Ltd, a company wholly owned by Trustee Lord Laidlaw of Rothiemay.” — page 29
“At the year end, a balance of £67,660 (2021: £67,660) was owed to the Foundation by Specialised Transportation Ltd.” — page 29
Per its FY2022 accounts as filed with the Charity Commission.

Accounts audited by Azets Audit Services. Discloses 3 of 6 completeness components.

Year-over-year changes

Comparing this charity’s FY2021 and FY2022 accounts as analysed by this site.

Structured financials (annual return, FY ending 31/07/2024)

Total income
£5.3m
Total spending
£2.4m
Reserves (reported)
£0
Employees
2

Reported reserves equal ~0.0 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Trustees · trustee networks

Trustee list from the Charity Commission register (current, not historical).

Operates in: Canada · Hong Kong · Ireland · Monaco · Rwanda · Scotland · Singapore · South Africa · Throughout England · United States

Income and spending

Financial year endIncomeSpending
31/07/2024£5.3m£2.4m
31/07/2023£10.9m£9.6m
31/07/2022£8.2m£7.8m
31/07/2021£10.2m£16.4m
31/07/2020£13.3m£5.3m

Common questions

Is Laidlaw Opera Trust financially healthy?

Per its FY2022 accounts: The accounts state that the charity has negative unrestricted reserves of £4,680,746 due to future grant commitments. However, the Trustees confirm that these commitments will be met by donations from the sole sponsor, Lord Laidlaw of Rothiemay, and sufficient funds are available to continue trading until the charity is wound up in 2023. Its FY2022 accounts were audited by Azets Audit Services.