## **MYCO Treasurer’s Report relating to the ACCOUNTS to July 31[st] 2022** Overall this year MYCO made a surplus of £13,033. Our expenditure also includes a prepayment of £1,024 towards our main show for 2023. We are carrying forward a Fund Balance of £110,463 to the next year. Now that the Charity is in a strong financial position, complies with all Charity Commission regulations (including being able to set aside the required level of reserves), we no longer need to accumulate profit. For the 2022/23 period, we will review whether we still need to retain an increased level of funds to cover any unexpected situations given the unpredictability of theatre-based activities, costs and income in light of the Covid-19 pandemic. This may still be relevant given that insurers are unable to cover any losses incurred due to pandemics going forward. We anticipate that our current fund balance would fully cover our costs for 2022/23 should that need arise. ## MYCO’s normal main income streams include: • Membership subscriptions. This year, we collected fees at two separate times as opposed to our normal April-only schedule as we did not bill for membership subs during the previous year owing to the effects of the pandemic. Membership fees were collected after we held auditions for new members in September 2021 and we resumed our normal annual schedule of collection in April 2022. These two collections of fees (in September 2021 and April 2022) resulted in £32,290 to be used for ongoing expenditure. • Donations and Gift Aid. This amounted to £4,602 this year: £855 in donations from individual supporters and Friends of MYCO towards our ongoing activities and covering outreach show tickets donated to schoolchildren and their families; £3,747 from organisations (including £250 from a local church; £1,000 for MYCO’s Outreach work from the Arnold Clark Community Fund; and £2,497 from the Community Lottery). We delayed collecting Gift Aid until the next financial year. • Ticket sales for our shows. We were thrilled to be able to stage a production of ‘Legally Blonde’ at the Oxford Playhouse theatre, and to enjoy sell out performances and excellent reviews. We achieved record ticket sales of £57,613, an additional £125 in programme advertising income and £383 in respect of sales for costume items and hoodies. We also staged two performances of a summer concert at the Amey Theatre which was also critically well received and achieved £6,731 in ticket sales. ## MYCO’s normal main expenditure includes: - Show costs, including: - venue hire and services - costumes, lighting, sound, equipment, orchestra and sets - rehearsal costs, such as rehearsal venue hire, and pianist fees - expenses to cover travel costs etc for Directors This year these totaled £76,568. - Administrative and professional fees, which cost £5,745. • Training workshops. This year, these were postponed due to the knock on effects of delays caused pandemic but are set to resume in September 2022. • Awards events, which cost £1,898 in total: one was postponed until late summer 2021 due to the pandemic, and one took place as usual in early summer 2022. Both sets of costs were incurred in the same financial year. • Insurance, which cost £1,636. • During the year we incurred storage costs for costumes, props and equipment. This had an in-year cost of £1,061 as the majority of the year’s storage costs were paid for by the previous year’s annual payment, which was covered by an award received last year f rom People’s Postcode Trust, a grant - giving charity funded entirely by players of People’s Postcode Lottery. • Outreach costs: MYCO has established a new programme of activities to make our performances, and musical theatre in general, accessible to young people from all backgrounds. In July 2022, 15 members of MYCO participated in five workshops in four different schools to inspire other young people in the performing arts. The costs included travel and lunch expenses, plus workshop facilitator fees and totaled £454. This was covered by a grant from the Arnold Clark Community Fund. We also distributed free tickets to schoolchildren both for our production of ‘Legally Blonde’ and for our summer concerts. These were kindly provided by individual supporters or were not charged for, in line with our charitable objectives. - Miscellaneous costs, which are covered by three budget lines: - MYCO miscellaneous company costs. These amounted to £810 and included items such as: water dispensers; cups; SumUp machines for electronic sales; flowers and gifts for volunteers and helpers; thermometers (for checking people’s temperatures at reh earsals); storage boxes; and first aid equipment. - Main show miscellaneous costs. These totaled £957 and included: travel expenses; company and crew refreshments and meals; and gifts for volunteers. - Summer concert miscellaneous items. These cost £167 and included: transport costs; props; and the phone bill for the ticket line. Attention should also be drawn in the Accounts to the following: • We organised an online and bucket collection at our summer concert for our designated external charity, which is chosen by the members every year. This year, the collection resulted in a donation of £463 being made to the Great Ormond Street Children’s Hospital • We have spent £1,024 on our forthcoming production of ‘The Addams Family’ which is due to be staged at the Oxford Playhouse in April 2023. MYCO would like to thank all of our supporters including individual donors and the families of our members and the People’s Postcode Trust, the National Lottery Community Fund and the Arnold Clark Community Fund and a local church for their support. JS10712012 150 97.280 1103 Uffj4SS •y 97,430 103.025 .59S1 currthrpw1t￿F1￿￿vDD5Sj FundBa•r￿cWl￿JknY￿d li 97A30 Apwo¥•d A•nW•bb LE.8 2£)il z8.q.LoZL 453 **Registered charity number 1004081 RECEIPTS AND PAYMENTS ACCOUNT FOR YEAR ENDED 31st July** ## **MUSICAL YOUTH COMPANY OF OXFORD** |**Regular activities- Income**
Membership subs
Donations - corporate and grants
Donations - Friends and private
Gift Aid
Other income
**Regular activities- Expenditure**
Professional services inc administrator, an
CRB/DBS costs
Hall hire
Vocal coaching
Camping workshop costs and expenses
Insurance
Membership Fees
Refreshments
Award events
Computing & Website
Printing, postage, stationery, telephone
Equipment purchases
Previous Show Costs
Storage costs
Bank Charges
Outreach costs
Misc
Net Income from regular activities
Net Profit/Lossfrom Main Show
Net Profit/Lossfrom Summer Concerts
Net Profit/Lossfrom Autumn Concerts
Expenditure on next year's show & concert
Net profit/losson previous year's shows &
Net profit/(loss)for shows & concerts
**Net surplus/(loss) for the year**
Reconciliation of funds
Total funds bought forward
Total funds carried forward|**31/07/2022**
32,390
3,747
855
-
86
**37,078**
d
5,745
6,750
28
23
332
-
300
-
-
300
1,636
1,636
152
137
112
-
1,898
20
-
345
58
-
1,587
-
-
-
1,061
7,493
97
81
454
136
810
940
**14,270**
**17,861**
**22,808**
(9,752)
124
-
s
(1,024)
concerts
878
(9,774)
**13,033**
97,430
110,463|**31/07/2021**
4,511
20,682
2,078
5,091
676| |---|---|---| |||**33,038**| |||| ||**14,270**|| ||s
concerts|| |||**15,177**| |||(19,072)
-
-
(1,700)| |||(20,772)| |||| |||**(5,595)**| |||103,025| |||97,430| ## **MUSICAL YOUTH COMPANY OF OXFORD SHOW ACCOUNT FOR YEAR ENDED 31ST JULY** |**Income**
Ticket sales
Advertising
Sponsorship
Programme sales
DVD sales
Charity Collections
Costume Sales & Hoodies
Subtotal
**Expenditure**
Theatre Costs
Credit card commission
Theatre rental
Services
Ticket agency fee
Technical staff
Lighting hire
Sound hire (inc radio mics)
Projector hire
Canapes
Drinks reception
Programme additional page
Subtotal theatre costs
Set hire
DVDs
Costumes
Pianist fees
Hoodies
Rehearsal hall hire
Design
Publicity
Programmes
Royalty
Licence
Libs and scores
Director/MD fee
Choreographer fee
Makeup and hair
Orchestra
Lighting
Sound
Van Hire
Props
Charity Donation
Printing and postage
Freelance technical staff
Misc inc gifts
Subtotal other costs
Total expenditure
Show Profit/(Loss)|1,440
7,100
3,600
2,022
8,209
2,100
1,440
420
150
180
s
72|**31/07/2022**
57,613
125
-
-
-
-
383|-
-
-
-
-
-
-
-
-
-
-
-
-
-
400
3,230
-
1,600
-
587
203
-
-
-
1,000
-
-
1,530
1,790
12,047
-
310
184
-
520
860
24,261
24,261
(19,072)|**31/07/2021**
4,641
300
-
-
-
248
-| |---|---|---|---|---| |||58,121||5,189| |||||| ||26,733|||| ||4,336
-
3,062
3,190
1,960
3,437
640
1,565
-
11,062
-
1,293
2,000
-
793
5,275
990
335
-
213
-
33
-
957|||| ||41,141|||| ||67,874|||| |**Income Summer Concert**
Tickets
Bar
Charity Collection
DVD Sales
Programmes
**Expenditure Summer Concert**
Theatre Hire
Rehearsal Hall Hire
Pianist fee
Musicians Fees
Director/MD expenses
Printing & Publicity
DVD Cost
Music library
Sound and lighting
Bar
Paypal Ticket Fees
SumUp fees
Donation to Charity
Misc inc gifts
Total expenditure
Total profit/(loss) Summer concert
**SUMM**|1,884
1,070
1,445
600
1,200
61
-
483
400
600
133
24
463
167
**MUSICAL Y**
**ER CONCERT A**|**31/07/2022**
6,731
1,315
463
-
144
8,652
-
-
-
-
-
-
-
-
-
-
-
**OUTH COMPANY OF OXFORD**
**CCOUNT FOR YEAR ENDED 31ST JULY**|**31/07/2021**
-
-
-
-
-| |---|---|---|---| ||||-| ||||| ||8,528||-| ||||| ||124||-| ## **MUSICAL YOUTH COMPANY OF OXFORD Notes to the accounts for the year ended 31st July 2022** 1. The 2021 main show took place in the summer in a barn, rather than a theatre, owing to the effects of the Covid-19 pandemic. Consequently, 2021 finances are recorded under the main show rather than the summer concert. 2. Membership subscriptions were not collected in f/y 2020/2021 owing to the pandemic and the consequent delay in auditioning new members which took place in f/y 2021/2022 instead. The £4,511 in the accounts under membership subscriptions for 2020/2021 year relates to final instalment payments from invoices issued in f/y 2019/2020. Membership fees were requested in September 2021 and April 2022. Both sets of fees paid are represented in the 2021/2022 figures. 3. The licence for the main show is normally paid for in the previous year - please see 'Expenditure on next year's show and concerts' in 'Receipts and Payments'. 4. Figures are rounded up or down to the nearest pound so totals may differ by +/- £1. ## **Independent Examiner's Report to the Trustees of The Musical Youth Company of Oxford** I report to the trustees on my examination of the accounts of The Musical Youth Company of Oxford (The Charity), charity number 100481 for the year ended 31 July 2022 which are set out on pages 1 to 6. ## **Responsibilities and basis of report** As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable directions given by the Charirty Commission under section 145(5)(b) of the Act. My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect: - accounting records were not kept in accordance with Section 130 of the Act, or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Rodney Style Date 31/10/2022 R H Style ACA 3 Danebrook Court Langford Lane Kidlington Oxford OX5 1LQ