COMPANY REGISTRATION NUMBER: 03226828 CHARITY REGISTRATION NUMBER: 1062845 Oxford Contemporary Music Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
Oxford Contemporary Music Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees 13 Statement of financial activities (including income and expenditure account) 14 Statement of financial position 15 Notes to the financial ststements 16
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the direclors for the purposes of company law, present their report and the unaudited financial ststements of the charity for the year ended 31 March 2024. Chair's report At OCM, a crucial element of our work has always been to support people in their creats'vity through talent development, education. commissioning of new work and relationship-building wrth Gommunities around Oxfordshire. OCM has focussed on improving quality rather than numbers in terms of engagement. This has borne fruit in the relevance and value of OCM'S contribution to creating resilient society, nourished and bonded by sound and music. In 2023124 OCM'S events programme delivered 19 performances in venues across Oxford for 1,814 attendees. We reached a further 10,758 people across the country through touring and co- commissioned shows. OCM continued to support innovation by commi55ioning and presenting new work such as 'ln Harmony. by Raheel Khan as part of Jerwood Jazz Encounters and Mark Ander50n's 'Warning Notes, in collaboration with the Oxford University Cultural Programme al the Ideas Festival. OCM'S creative development prograrnme V4WS once agaln supported by the PRS Foundation. We were one of 48 national organisations to be a Talent Development Partner vAth this progressive and impactful organisation. Artist development is woven through all of OCM'S work wth the support and menloring of the artists that we work with. This year's artists for commissions and R&D work were all chosen from open calls. This approach helps the team to discover new artists, offer more opportunits'es to a wder range of artists and especially to work with artists with protected charaGteristlGS who are underrepresented in music and outdoor arts. Environmental Responsibility and Equality, Diversity, Inclusion and Belonging were key themes in our own learning and development. All team members took part in Climate Literacy Training in February 2024, and one of OCM'S Trustees has joined the Arts Council England Board Environmental Champions scheme. As well as placing the environment at the forefront of subjects for commissioning new work (Warning Notes) and artist development (BWMI), we are progressing with reducing our ov organisational impact. Following consultancy from Belonging Pioneers in 2020-21, we placed Gommunlty collaboration at the heart of our EDIB development. In 2023-24 we continued to build relationships th local artists through the Starlings Sessions, musi¢ activists through our Open Space event and grass roots organisations Asylum Welcome, Oxford Community Aclion, Inspire Sounds, YWMP and Inner Peace Records. Towards the end of the year we took the decision to focus most of our Educatlon and
Oxford Contemporary Muslc Company Llmlted by Guarantee Trust•ès' Annual Report (Incorporatlng thè Dlrectorfs Report) (Con Year ended 31 March 2024 Outreath work on th8 district of ol Barton in the fores8eabl8 futur8. This is a priorlty area for the City Cne1 in Oxford, In an oullsfjng area just Wid the ring road with a very diverse Powlation and Ilmfted LW)rtunltles for engaglng In muslc and cultural actlvities. OCM ran some pllot 8clvttles there In March and now plans to deliver a number of workshops in tsie area next year, and then to Gonlinue to work str8tegic4lly, further deVelon9 connection6 vAth Comrnunity represent8tlv66, r88idents and f8mlll8s In Ihe 8roa. In 8ummary, th18 ha8 b88n a y8ar ol li8t8nlng to thé needs of audiences, artl8ts and communlljes, and responding with carefulty con8idered programma8 and collaborativ8 Initiativ88. Rlchard Tooth Chalr 13 Dfjcwnber 2024
Oxford Contemporary Music Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contInU} Year ended 31 March 2024 Refernnce and admlnlstrative details Reglstered charity name Oxford Contemporary Music Charlty rggistration number 1062845 Company reglgtration number 03226828 Principal office and reglstered Room 136 office Headington Hill Campus Oxford Brookes University Oxford OX3 OBP The trusts88 Stuart Fowkes Richard Tooth - Chair Ruth Cadiot Amenah Enayat Maria-Louiza Polymeropoulou Zahra Haji Fath AJ Tehrani Danielle Battigelli (Retlred 31 May 2023) Company secretary Joanna Ross Independent examlnor N J Cadwallader FCCA For and On Behalf Of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Nr Bicesler Oxon OX26 1TD
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conlinued) Year ended 31 March 2024 structure• governance and manag8ment Oxford Contemporary Music is a Gompany limited by guarantee and a registered charity under the Charities Act. The charitable company is governed by its Memorandum and Articles of Association. It was incorporated as a company on 18 July 1996 (registered company number 032268281 and registered by the Charity Commission on 13 June 1997 (chanty number 1062845). Directors are appointed by the Board; the Articles require one third, or nearest to one third, of directors to retire annually, and they may offer themselves for re-election. The board of director5 meet four times year to oversee the running of the charity. The Director. full time Deputy Director handle day-to-day administrats'on. Key Personnel: D1ctor.. Jo Ross Deputy Director.. 2024) Victorla Larkin (on maternity leave from 28th February Deputy DirectorlProducer (Maternity Cover).. Joined in February 2024 Sherrell Perkin I Sarah Mayhew Craddock (J'ob share) - Marketing Coordinator: Isabel de Berrie Events Coordinator.. Sofia Lykou Programme Producer.. Lauren Spiceley Producer, Community & Leaming.. Tessa Cavanna (on sick leave from August 20231 Objectives and activlties The principal activity of OCM 15 to foster, support, promote and develop knowledge, understanding and appreciation of the arts (vAth reference to contemporary musiclnationally by means of event promotion, audience development, educational acts'vities, marketing and fundraising, working wth other bodies both to increase accessibility lo and improve the standards of practice and appreciation of the arts. The Trustees have complied wth the duty in section 17{$1 of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission.
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directovs Report) (¢ontiftued) Year ended 31 March 2024 Achievements and perfornianco OCM, its audiences and supported artists were able to enjoy a plethora of live events in 2023-24. OCM'S staff have worked hard to respond with programmes that reach those in most need, to bring communities together through music, support music creators in their development and offer an uplifts-ng, inspiring and affordable live events programme of groundbreaking new music for audiences. We have done this through programmes including talent development, music education provision and the creation and presentation of brand new yrk. Relationship building and VrkIng with communities around Oxford has also been key. For audiences, we have been as focussed on improving the accessibility and quality of audience engagement as much as numbers of audience members. The result has been a year rich with joy and community cohesion through music and exciting new sonic creations that have and V*ill continue to reach audiences around the UK and beyond. A year of optimism and learning. OCM in 2023-24: Employed 70 artists., Gave 885 children and 181 adutts a chanGe to participate in courseslworkshops ' Received valuable support from 36 volunteers. Presented 19 performances Supported 4 new commission8lco-commission5 ', Supported 4 artists in residencies., 1814 audience members enjoyed OCM'S in-person events In Oxford., 4 OCM C¢>Gommissions toured: Warning Notes, Hack-Poets Guild, Colony, Congregation,. 4 Community events attended by a total of 153 people this includes the open spaces, venue discussions, and Open House with Raheel Kahn., Touring or additional performances of OCM'S commissions (from Basildon to Belfastl) included 20 eventslperformances enjoyed by 10,758 people. Innovation, Collaborailon and Public Space PARTNERSHIPS AND PROJECTS Contemporary Collectlve InltlatiV0 OCM and Sound UK agreed to collaborate to lead the PRSF Talent Development Network'contemporary Collective,. This aims to be a neork of like-minded organisations supporting artists in cr05s-genre. cross-disciplinary work to share ideas, knoedge, ideas for collaboration and discuss strategy. The group, vthich so far comprise5 OCM, Sound UK, Opera North. Drake Music, T? Cerdd. Britten Pears, Sound and Music and Cryptic, wll meet twce a year and wll have an open agenda to which any organisation can contribute. Nurturfng a resilient music scene In Oxford Following the series of events OCM organised to help nurture a resilient and flourishing music scene in Oxford {Open Space, 25th Feb,. Community Run Venues Workshop 1 & 2, May., open Space 2, 1st July), some attendees of these meetings organised further meetings on a voluntary basis. This led to the foundation of Causing A Scene, a Community Benefit Society lo act as a collective voice for Oxford's music scene, advocate for the scene, interface with institutions like Oxford City Council and University of of Oxford, and support the development of new independent venues. This new organisation is being set up by volunteers. with a co-operative structure, and OCM has expressed interest in becoming a member of the CBS.
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2024 Starling Sessions OCM conts'nued its partnership with Music in Tandem to run the Starling Sessions, regular music making session5 where participants Share traditional music from around the world by teaching each other the music. The project aims to build connection and understanding through music making. Funding was secured from Oxfordshire Community Foundation, Swan Mountain Trust, and Stanton Ballard Charitable Trust to continue core yeklY sessions wth Music in Tandem as the delivery partner. Pilot sessions were also held with asylum seekers lch led to funding Secured by Asylum WelGome to continue running activities for residents at the hotel in Blackbird Leys ere they are residing. Priorlty Places Areas - South Somerset Associate Producers Emma Dunton and Andrea Broym developed feasibility of 'PeopleSongs' in the village of Aller, South Somerset. The workshop confirmed for 24125 will test the feasibility and initiate ideas around community project that will become a show aiming to tour in 26127.The project, working title 'People Songs, will take as its starting point the folk songs collected by Cecil Sharp in the area which tap into the rich history of the Somerset Levels. Produclng, commisslonlng and tourlng This year's arts'sts for commis5ion5 and R&D work were all chosen from open calls. This approach helps the team to discover new artists and offer opportunities to more artists and artists wth proteGted characterlstics wfio are underrepresented in music and outdoor arts. Raheel Khan's 'ln Harniony. with Jerwood Jazz EnGounters OCM continued its participation in the Jerwood Jazz encounters Scheme, mentoring Raheel Khan and producing his new Yrk In Harmony. It was presented in OVADA Warehouse space and was part of audiograft festival {in collaboration with the Oxford Brookes Sonic Art Research Unit) on 7-8th October. Raheel described the piece as "Inspired by traditions of Islamic architecture and musique concrete. A customised sound-system will be installed in the space, central to which is a new sound )Nork that combines recordings from the building's own sound features with electroacousts'c composition." Live performances were added to the inslallalion, including musicians from a diverse range of Oxford's music communities. OCM supported Raheel to secure Arts Council England funding to take the piece on tour in 2024. For the second day of Audiograft, we invited with Raheel Khan other artists to respond to the sound installation in an Open Day, thich resulted in a 5-hour experimental Improvisation session where up to 25 musicians collaborated and brought new sounds to life. "It is magical. Difficult to communicate how good until you seelhear it in the flesh" Lovely to play alongside my @theborderless music pal in today's improvisation session in Oxford - wthat an amazing event! Thanks so much to @ocmevents Mark Andorson's Warning Notes In October 2023 we presented Mark Anderson's Warning Notes in collaboration with The Cultural Programme and Cowpromoted yth the Ideas Festival. The show gives a voice to the social and ecological alarm rippling across our planet and is made up of a collection of sculptural instruments that are played in an improvised performance by Mark and his Collaborator Liam Walsh. The Cultural Programme commissioned poet Selina Nwulu to Write some spoken word that was recorded and included in the performances. The show was presented in Florence Park (Oxford) as a free event relaxed slots and a touch tour available for the audience. An 'ln Conversation, event with Mark and Selina, and a sound recording workshop were also held. We had poor vRather on the second evening but we were impressed by the number of people vtho still attended. Overall there were around 765 people came to the events over two days. It went on a tour of 4 dates in Wales in O¢tober-November (supported by Arts Council Wales), as Y11
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conlinued) Year ended 31 March 2024 as the show in Oxford. We also applied to Without Walls for support for future touring and were successful. This will fund some additional development of the show and includes a tour to three festivals in 2024.. Timber festival (midlands), Greenwch & Docklands Intemational Festival (London), and Stockton Intemational Festival. "It was brilliant. Totally immersed in sound scape and amazed at how long children remained fascinated by performance. Also the relaxed performance was perfect as felt relaxed to bring them and for them to interact in their own way." Audience "l enjoyed the event. Great to have somelhing like this on the doorstep and use of public park for arts." Audience "The otherworldly sounds of bells, whistles, bursts of flame, sheets of metal, drums and a Cold War siren greeted passersby as Oxford played host to a remarkable musical Installation... It was a very powerful reminder that ecological disaster does not take days off. The Oxford Times Emlly Peasegood R&D Emily Peasgood was suGcessful in securing development money from the PRS Composers Fund for Eversong, her installation work where it is possible to hear the entire lifespan of a person in a song. It blends human experience with Al and is experienced in tunnel-like environments (tunnels, alleyways, underpasses), with human voices that age and become young again as visitors move through it. Eversong interfaces humanity with technology by ulilising artificial intelligence technologies for modelling, generating and conditioning vocal audio. It references the fragility of life and the importance of celebrating It. The project was in the very early R&D stages this year, with some seed funding from OCM and other sources. CONCERT PROGRAMME OCM'S programme of live events took place throughout the year, wth a broad range of outstanding and diverse artists and genres. A mix of venues were used to reach a variely of audiences, from public and community spaces to top quality concert halls. The programme included free and concession ticketed events to allow access for people with low incomes. We built on partnerships with organisation$ and venue5 in the city. Accesslble and communlty spaces A Listening Party was held in Flo's Cafe, a space that lies in the heart of the south Oxford Florence Park, an area housing a real mix of communities and backgrounds, including a South Asian community, low income families, people VrkIng in the third sector, and middle class families. "More pleasel" (audience member, Listenlng Party #12 at Flo's Café) OCM worked with Tap Social at the Covered Market to bring music to their new late night openings. This event, wth Midori Jaeger and Marie Bashiru, was run as a free event with no bookings required, and we estimate attendance was around 130 people,. the space was full and the welcome wa5 warm. "FantastiG event well donelll (audience) "Brilliant chill safe and friendly vibe. Great music., (audience) Eliane Correa & La Evolucion supported by local band Ran Kan Kan were presented at the 02 Academy in east Oxford. This was cprOmOted Oxford Salsa SoGiety, with a free salsa class before the band5. 'It Iiia5 a really really fun event, Audience, Eliane Correa
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conlinued) Year ended 31 March 2024 Outstanding artists We collaborated with Oxford Festival of the Arts to present the mulit-award winning Joby Burgess at the Jacqueline du Pre Music Building. This was also well attended by a sizeable and enthusiastic audience. We partnered viith local independent promoter Irregular Folks to present The Irrepressibles, supported by pecq, at St Barnabas Church. Honestly, it was incredible - probably the best concert I've ever been to. Seeing the Irrepressibles in that beautiful cosy space can't be beaL" Audience "More than just a gig, it's a genulne privilege to wtness tonight's Spectacle." Nightshift, The IrrepSSIble8 We were delighted to present the tNKJ ts'me Grammy Award Wlnnlng Attacca Quartet at St John's College Auditorium. "Exceptional concert in exceptional surroundings." Audience, Attacca Quartet "The music was fantastic,. of a very high standard and very engaging. It was exciting in a very pleasant intimate venue with good sightline5. A real privilege to be there.2 Audience, Attacca Quartet 'Wonderful performance, great venue, helpful and enthusiastic OCM personnel" Audience, Attacca Quartet Artistlc Innovation We partnered with Arts at the Old Fire Station for an event as part of their Offbeat festival in June, bringing Brazilian artisuresearcher Joanna Burd'5 Electric Daisy multi-sensory installation to Oxford. Pianist Zubin Kanga perfomed a boundary pushing show blending new technology with his piano. including a performance of Philip Venables, Answer Machine Tape, 1987 co-promoted with IF Oxford Science and Ideas Festival, at St John's College. This event was recorded by BBC Radio 3 wtth excerpis broadcast on the New Music Show. The event was part of our link with St John's College who support OCM with 2 free uses of their auditorium each year. Ivor Novello winning composer and musician Martin Green brought 'Lighling the Dark, which blended folk, jazz and story telling, performed by a group of pioneering musicians to explore our ancient need for ritual and renewal in the wnter. Total Audiences attended Concert Programmes.. 1732 LEARNING AND COMMUNITY Listen Upl OCM produced Listen Up! new music making workshops for young teens from Barton, a priority area in the city with little music provision. Delivered in partnership wth Oxfordshire County Music Service their teachers were part of the delivery team for the project. Four days of workshops were held in April and 3 days of workshops were held in February, offering half term activities for families wth low income. The Pitt Rivers Museum brought musical instruments lo the February vrkShopS and the project had support from the Oxford City Council Community Impact Fund and the Universty of Oxford Small Communities Grant Scheme.
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conlinued) Year ended 31 March 2024 Feedback from a Foster Carer of one of the participants: "M was fascinated with the music workshop. His enthusiasm was shared with many as he spoke about the 3 days. To the priest, social care. family and anyone who would listen. The days were perfect and very well organised. He made friends that he has kept since the sessions. M loved leaming how to make beats. "Amazing that you fed all the children that attended. The fact this was all totally free made it accessible to all. Please thank everyone involved for their wami welcome, kindness and patience, such an empathetic group of people. Music Matters This long running project, which nurtures communications skills in pre-school infantslchildren through music making sessions with their carers, evolved through a partnership with the Oxfordshire County Libraries the aim of reaching a broader range of families with the sessions. Having delivered successful and popular sessions at the Central Library (Oxford) in the previous year, we branched out to local libraries, delivering sessions in the Headington, Botley and Blackbird Leys Libraries during the year, and began planning new sessions in the Barton Library for 2024, which currently has events for young people running. "We love the actions and singing., Participant Young Women's Music Project OCM supported YWMP to deliver a course of 6 sessions for women, trans and non-binary people over the age of 14 in sound engineering skills at Makespace, a final sharing on Tuesday 26 March. This is part of a wider projecl to support'safe spaces, in the broader music industy and communities, in this case starting with training a more diverse group of sound engineers to work in venues and support musicians. OCM worked wth YWMP to secure funding to do more work around Safe Spaces from 2024 onwards. Barton - Pl8cemaking Barton is a priority area for the city council in Oxford, In an outlying area beyond the ring road with limited music or music making provision. QCM delivered some workshops in the area this year and are looking to work here in a longer term strategic way. Ideas include community consultation in place5 like schools and community cafes, pop up performances in and around Barton, and community ensemble building opportunities aiming to lead to a performance at the Barton Bash in 2025. Dash Arts workshop - Dare To Speak Up In early October. we collaborated wlh Dash Arts (the theatre company worked with for Dido's Bar) and Aclivate Learning (their Banbury college) to deliver a 1 day workshop with 29 of their perfonning arts students. This 'Dare To Speak Up, workshop led the sludents through the process of speech writing and presentation wtth expertise from the Dash team and a lecturer from the University of Bimiingham. Dash Arts have taken this workshop to many other settings including community groups and prisons. They vlill use the speeches vffitten in these vrkshopS to develop a new music theatre show, starting 1th a development week at the Natsonal Theatre rehearsal studios in early 2024. TV of the Activate Learning students V11 present their speeches at a Dash Arts public event in London in late November.
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 ARTISTS DEVELOPMENT OCM'S creative development programme once again supported by PRS Foundation. We were one of 48 national organisab'ons to be a Talent Development Partner lItt this progressive and impactful organisation. Artist development is woven through all of OCM'S work with the support and mentoring of Ihe artists that we work wth, but our core programme is 'Boom' and 'BWMI' Boom is a UK wide programme that has been running for several years and this year it expanded the sister Welsh Prograrnme BWMI run in partnership with Ty Cerdd and Articulture and supported by Jerwood. The focus of both programmes conts'nues to offer artists the chance to develop and experiment in working outside of the conventional performances spaces (e.g. outdoors, found spaces etcl to reach broad and diverse audiences, with a bursary and regular mentoring support. It has always had the additional focus of nurturing people with protecled characteristic$ who are under represented in outdoor art5, and BWM! has used the theme of clirnate justice. Participants are chosen from an open call process, wth additional support offered for disabled and neurodiverse arts5ts to take part. Three gatherings were held for both schemes, including a gathering in Wales for both groups to meet where they also saw Mark Anderson's Waming Notes installation in Newport and a Q&A vAth the artists. BWMI gave their participants additional online gatherings with guest speaker5. BUILDING RESIUENCE This year OCM continued to build on its organisats'onal development work around Environmental Sustainability and Equality, Diversity, Inclusion and Belonging and other factors as desGribed in Arts CounGil England's Investment Principles. Environmental Rasponsibility As well as placing the environment at the forefront of subjects for commissioning new yrk (Waming Notes) and artists development IBWMI), we are progressing wth reducing our own organisational Impact. OCM has an ongoing, regularly reviewed, environmental action plan where each member of Staff identifies and acts on practical steps that will help to reduce the organisation's environmental impact. All team members took part in Climate Literacy Training in February 2024, and one of OCM'S Trustees is on on the Arts Council England Board Environmental Champions scheme. You can read a Julie's Bicycle Case Study published in 2024 on the Climate Lab that OCM ran in 2022 wilh 101 Outdoor Arts.. https.1ljuliesbicycle.comlresourceloxford-contemporary-music-addressing-the-climate- crisis-in-musicl Equalityg Diverslty, Incluslon and Belonging Following consultancy from Belonging Pioneers in 2020-21, we placed community collaboration at the heart of our EDIB development. In 2023-24 we continued to build relationships with local artists through the Starlings Sessions, music aclivi5ts through our Open Space event and grass roots organisations Asylum Welcome, Oxford Community Action, Inspire Sounds, YWMP and Inner Peace Records. Whilst we are still on a journey wth this work, we recognise good progress this year that can be built upon through ongoing consultation and collaboration. OCM continues to put in place practice learned with Weston JeTwood Creats've Bursary by welcoming and supporting people in it5 team and within its talent development programme from lower socio- economic backgroun(is th training and mentoring. We are a Member of Oxford Culiural Anti-Racism Alliance and signatory of the Oxford Ants'_Racism manifesto, and we are working to share 10-
Oxford Contemporary Music Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnu•d) Year ended 31 March 2024 and apply learning from this network within the organisation. Financial review Financlal & Operations Rising costs and cuts in funding have meant that OCM'S partnership approach has never been more lrnporlant than it Is now, and the organisation has been working smartly to share resources. For example through planning partnerships around education, talent development and co-commissioning ith OCMS, Ty Cerdd and the Schwar2man Centre for the Humanities. OCM'S core funders PRS Foundation and Arts Council England maintained thelr level offunding. Operations Operationally, we have also sustained the organlsatlon's resilience by continuing lo.. Maintain a reasonable level of reserves to Include winding up costs and contingencies for the organisation and larger projects., Ensure staff retention is strong through annual perfomiance and job reviews with staff members and by supporting their training and development according to individual needs. Hold quarterly Board meetings, regular staff team meetings., Regularly reviewing OCM'S policies and providing all staff with relevant training., Invest in fundraising support for existing and new projects. The Income and Expenditure account Shows a deficit of £25,307 (2023 deficit.. £23,176) making the balance carried YOard at 31 March 2024 of £125,553. The balance was in line with the budget for the year and the Trustees expectations and strategy for the Charity. The deficit of £25,307 was drawn down, yth the Trustees, permisslon, against OCM'S pot of free reserves, which had been accumulated over the last few years for agreed contingency and emergency spending and for costs of fundraising. The Trustees have deemed these as acceptable uses of the company's free reserves over the year, falling within the Reserves policy. The Glosing posilion at the end of the financial year is that the company retains £20,248 in free resenies in addition to a ring- fenced amount equivalent to 3 full monlhs of ynding up costs, as projected for the 2025126 financial year. The Trustee director5 consider that the position ofthe company as at 31 March 2023 is satisfactory. 11
Oxford Contemporary Muslc Company Llmftéd by Guarantee Trustees. Annual Report (Incorporating the Dlrnctorf• Report) (¢0ndnO Year •ndod 31 March 2024 R••erv•• The charity aim8 to hold cash raserves at the level of beiween 3 and 5 month8 of operating in order to cover fluctuallons In cash flow and wSndlng down costs In the clrcumstance that the Lthdrlty ceases trading. Thls 1% Shown under the unl118d Funds - 'General Funds,, and the current Shown Is sufficlent to cover 3 months of projecleil costs in fiscal year 2025126. The charity al80 holds ¢45h r•geNes for Orgenisational Conttngency lo includ¢ hlghor risk ovont8 and projects. 118180 hold8 addltlonal fund8 that the Tru8t888 have agrééd wlll bo u8ed for developrnent Ivndlro Such as urmlatlng of offlce equlpment 8nd project development, Thls IB shown under the Unrestrtcted Funds 'Pro}ect fund8'. Rtsk• The major rl8k8 to the chaty Is expos8d, @s Id8ntlfi8d by the tru8t888, have been •Wed and syBt8ms have been eslabllshed to mldgate Iho88 rlsk8. Pl•n• lor futur• p•rfod• A robu8t 3 year plan wa8 Put together as Part of OCM'8 appllcatlon proce88 for Arts Councll England'8 Nallonal PortfoUo.Organ15ation fundlna 2023-26. OCM secured th1$ fuhdlng and dellvery of thls programme has conlinuad as plsnnod into y04r 2 across 8114 strands of acti¥lty of this new plan, ¥thlch indud88 events programme, comm18s1onw, artlst developm•nt, and educatlonloutreach and addro8s8s ambltion and quality of our vA)rk, dynamism ol the organi8ation, indu8ivty and relevance, and environmental réspon81blllty. These plan8 are reviewed r8gulatty by the ataff and Board of Trustees, and ar8 Intsgrated Into OCM'S operatlonal work and polldes. Small company provl•lon• This report h89 be8n prepared in accordance wrfth tho provi8ion8 8ppllcable to companie• entilled to the Small cornpanl88 exgmption. The tr8, annual report was approved on tru8t888 b . and 8Igned on beh•lf ol the board of Rlch8rd Tooth Ch8lr -12-
Oxford Contemporary Music Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Oxford Contemporary Music Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Oxford Contemporary Music {'the charity,) for the year ended 31 March 2024. Responsibilities and ba$ls of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the 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 Commisslon under section 145{5)(b) of the 2011 Act. Independent oxamlner's statement I have Gompleled my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial ststement5 do not accord wth those records; or the financial ststements 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 18 nat a matter Gonsidered as part of an independent examination,. or the fi'nancial statements have not been prepared in accordance vAth the methods and principles of the Statement of Recommended Practice for accounting and reporting by charits'es 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 wtth the examination to vthich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached, Cadwallader FCCA For and On Behalf Of David Cadwallader & Co Limited Independent Examiner Suite 3 Bignell Park Bams Chesterton Nr Bicester Oxon OX26 1TD 13-
Oxford Contemporary Music Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total fund8 Total funds 2023 Unrestricted funds Note Income and andowmentS Donations and legacies Charitable activities 207,726 13,921 221,647 26,628 234.354 13,921 207,739 21,072 Total Income 26,628 248,275 228,811 Expenditure Expenditure on charitsble activities Total expenditurg 246.954 26,628 26,628 273.582 273,582 251,987 246,954 251,987 Net expendlture and net movement in funds <25,307> 125,307) (23,176) Reconciliotion of fundB Total funds brought forward Total funds carried forward 150,860 125,553 150,860 125,553 174,036 150,860 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note¥ on page5 16 to 26 fomi part of these flnancial sLitsm8nts. -14-
Oxford Contemporary Music Company Llmlted by Guarantéè Statement of Flnanclal Posltlon 31 March 2024 2024 2023 Not• Flx•d a•uts Tangible h'xed &%ets 14 4203 5.005 Cuff•nt a•••ts Debtors Ca8h at bank and in hand 15 12,750 131,699 144.449 13.419 143,561 166,980 Cr•dftor•.' •mounts falllng du• wthin on• y••r N•t cuff•nt as••t• 16 2&099 11,126 145.855 1 SO.880 150.850 122.350 125,553 125,553 Tot•1 a•••t• l••• curnl Ilabllltl Not aM•ts FundB of th• Charfty Unre8tr1cted fund8 125,553 125,553 150,860 150.860 Tot•1 ch•rlty fund• 18 For the s•ar Ondlng 31 March 2024 th• charty wa6 tIll•d to oxbmptlon from audtt undor 88ction 477 of the Companles Act 2006 releting to small ccmpaThe8. Dlrectorn, re8pon8lbithtles: Th8 members have not rryqulred th8 C£rnP8ny to olrtaln an audlt ol Its fin&ndo18tatemeni8 lor the r In qUe10n in accordanc8 vlth 8ethon 476; The directors acknowledge thoir re8ponsibilties for c(xnplying with the requirement3 of the Act Ih ie8ped to accountlng recofds and Ihe preparath)n ot IlnandAI 8tatement8. Thage flnancl81 gt8tom8nt8 have bean prapared In oceordance vAth the pro¥l8lons apFdlcable lo MpanI subjact lo tho 8m811 companle8' r•glm•. These financial statefflents re approved by the board ol trusté66 and authoris*J for 188ue on and are 8lgned on behalf ol the bogrd by. Rlchard Tooth Chair Th• nol•• on page• 16 to 28 forni p•rt olthe•e flnanelal Atthm•nt•.
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Room 136, Headington Hill Campus, Oxford Brookes University, Oxford, OX3 08P. ststement of compllance These financial staterrents have been prepared in compliance wth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 10211 and the Companies Act 2006. Accounting policies Basls of proparatlon The financial statements have been prepared on the historical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The finanGial Statements are prepared in sterling. which is the functional currency of the entity. Going concern The aGcounts have been prepared on a going concern basis. There are no material uncertainties about the charity's ability to continue. Arts Council England have offered a new National Portfolio Organisation grant agreement for 2023-2026. giving the charity core funding security for three years. The Oxford City Council Big Ideas core grant is secured again for 202314, Other grant funding 1$ applied for annually. Judgements and key sourceg of estlmation uncertainty The preparation of the financial statements requires management to rnake judgements, estimates and assUmpton$ that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities )Mthin the next financial year are as follows.. Deferred income has been calculated to reflect the element of grant income which was unspent on projects at Ihe year end. 16-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (continuod) Year ended 31 March 2024 Accounting polici8S (cé)ntlnts•d) Fund accounting Unrestricted funds are available for use at the discretion of the trLJStees to further any of the charitys purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of iwo sub-clas8es.' restricted income funds or endowment funds, Incoming resourc8S All incoming resource5 are Included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefit$ associated with the transaction will flow to the charity and the amount can be reliably measured. The follwing specific policies are applied to particular categories of income.. income from donations or grants is recognised then there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably, legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts en received if the value can be reliably measured. No amounts are included for the ontribution of general volunteers. income from contracts for the supply of services Is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 17-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (eontlnu•d) Year ended 31 March 2024 Accounting pollcles (conlinued) Resources expended Expenditure is recognised on an accruals basis as a liabilily is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of Ihe ststement of fi'nancial activitie5 to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further it5 charitable aims for the benefit of its beneficiaries, including those support costs and costs relatin9 to the governance af the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. AII costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocaled directly to that activity. Shared costs are apportioned between the activities they Gontribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent aGcumulaled depreciation and subsequent accumulated impairment105ses. An Increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless It reverses a charge for impaiment that has previously been recognised a5 expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreclation is calculated so as to write off the Cost or valuation of an asset, le8S Its residual value, over the useful economic life of that asset as follows.. Equipment 250A straight line Impairment of fixed as$ot5 A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceed5 the recoverable amount, the asset is impaired accordingly. Prior impairment5 are also reviewed for possible rever581 at each reporting date. 18-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (e0ntlftdj Year ended 31 March 2024 Accountlng policies {Gon¢lnu•dJ Impaimient of fixed assets (contlnu•dJ For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual a53et, an estimate is made of the recoverable amount of the cas generating unit to whith the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwll, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recogni5ed as an asset to the extent that the prepaymenl will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmited by guaranteo The Company is limited by guarantee and has no share capital. In the event that the Company is wound up, the liability of the members is limited to one pound. Donatlong and1ogacie¥ Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations 1,025 1,025 19-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Donations and legacles (continued) Unrestricted Funds Restricted Total Funds Funds 2024 Grants Oxford City Council grant PRSF grant Arts Council England, South East NPO grant The Cultural Programme Swan Mountain Trust JeTwood Arts stanton Ballard Trust Oxfordshire Community Foundation University of Oxford Community Fund Without Walls Consortium British Council 5,000 12,500 189,201 1,600 6,600 12.500 189,201 9,000 4,000 9,000 4,000 500 9,895 1,000 633 500 9,895 1,000 833 207,726 26,628 234,354 Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 440 440 Grants Oxford City Council grant PRSF grant Arts Council England, South East NPO grant The Cultural Programme Swan Mountain Trust Jery0d Arts Stsnton Ballard Trust Oxfordshire Community Foundatlon University of Oxford Community Fund Without Walls Consortlum British Council 7,000 500 189,201 7.000 7,250 189,201 6,750 1,248 1,248 2,600 10,598 2,600 197.141 207,739 Charitable actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income from charitable activities 13,921 13,921 21,072 21,072 -20-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements l¢onttnuedJ Year ended 31 March 2024 Expenditure on charitabl8 actlvltles by fund typa Unrestricted Funds Restricted Total Funds Funds 2024 Projects Concerts Education Overheads 43.494 29,551 8,616 165,293 24,028 67,522 29,551 11,216 165,293 273,582 2,600 246,954 26,628 Unrestricted Funds Restricted Total Funds Funds 2023 Projects Concerts Education Overheads 24.835 35,963 14,069 168,452 241,319 9,420 34,255 35,963 14,069 167,700 1,248 10,668 251,987 Expenditure on charitable activitieg by activity typo Activitses undertaken Total fund5 direct 2024 Total fund 2023 Projects Concerts Education Overheads 67,522 29,551 11,216 165,293 67,522 29,551 11,216 165,293 34,255 35,963 14,069 167,700 251,987 273,582 273,582 Net expendltur• Net expenditure is stated after charglngl(crediting): 2024 2023 Depreciation of tangible fixed assets 1,802 1,440 10. Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statement5 2,142 2,088 21
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 116,152 3,371 9,287 128,810 118,283 3.777 8,712 130,772 The average head counl of employees during the year VAS 6 (2023.. 61. The average number of fulktlme equivalent employee8 during the year Is analysed as follows.. 2024 2023 Number of staff - charitable No employee received employee benefits of more than £60,000 during the year (2023.. NII). 12. Trustee remuneratlon and axpènse• No Trustees were paid expenses in the year {2023.' One Trustee was paid a fee of £480 plus £70 travel expenses). There was no other remuneration or other benefits from employment with the charity or a related entity which were received by the trustees. 13. Transfers between funds Fund transfers represents transfers from unrestricted to restricted funds to account for excess expenditure on projects. 14. Tanglble flxed a8sot8 Equipment Total Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 15,348 15,348 10,343 1,802 12,145 10,343 1,802 12.145 Carrying amount At 31 March 2024 3,203 3,203 At 31 March 2023 5,005 5,005 -22-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2024 15. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 11,017 1,089 644 12,449 879 91 12,750 13,419 16. Creditors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and deferred Income Social security and other taxes Other creditors 11,561 10,537 6,845 1,530 2,154 596 22,099 11,125 17. Ponslons and other p09t retlrement bonefils Daflned contrlbutlon plans The amount recognised in income or expenditure as an expense In relation to defined contribution plans was £9,287 (2023.. £8,712). -23-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2024 18. Analysis of charltable funds Unrestrlcted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds Project costs Organisational Conts'ngency 105,243 25,217 221,647 (227,015) (10,199) 5,430 14,770) 105.305 10.248 20,400 (9,7401 (246,9541 (660) 10.000 125,553 150,86Q 221,647 At 31 March 202 At 1 April 2022 Income Expendlture Transfers General funds Project Costs Organisational Contingency 101,773 51,793 218,213 {241,319) 26,576 {26,576) 105,243 25,217 20,400 20,400 173,966 218,213 (241,319) 150,860 General Fund8 3 to 5 months of operatlng costs in order to cover fluctuations in cash flow and winding dovdn costs in the circumstance that the charity ceases trading. Project Funds Reserves held for developmental activities including Arts Councll England Catalyst Evolve fundraising, Education projects, contingency for lost incomel additional expenditure due to Covid 19 adjustments in the 21122 programme and replacement of essential office equipment. Organlsatlonal Contingency A contingency fund to mitigate against organisational and project financial risks and1083e8. -24-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 18. Analysis of charltable funds (conlinuedj Restrlcted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers PRS Foundation TDP grant Oxford City Council Community Impact grant CEP Engaging Young People Grant Jerwood Arts British Council Swan Mountain Trust Oxfordshire Community Foundation stanton Ballard Trust University of Oxford Community Fund Without Walls consortium funding The Cultural Programme 1,600 (1 ,600) 4,000 (4,0001 9,895 500 (9,895) (500) 1,000 {1,000) 633 9,000 16331 (9,0001 (26,628) 26,628 At 31 March 202 At 1 April 2022 Income Expenditure Transfers PRS Foundation TDP grant Oxford Clty Council Community Impact grant CEP Engaging Young People Grant Jep4vood Arts British Council Swan Mountain Trust Oxfordshire Community Foundation Stanton 8allard Trust University of Oxford Community Fund Without Wa115 consortiurn funding The Cultural Programme 6,750 (6,750) 70 (701 (1,2481 (2,6001 1,248 2,600 70 10,598 (10,6681 25-
Oxford Contemporary Music Company Limited by Guarantee Notes to the Financial Statements (contlnu8dJ Year ended 31 March 2024 18. Analysls of charitable funds (wntlnueo) Oxford City Councll Communlty Impact Fund Awarded for delivery of the Education and Outreach programme. Swan Mountain Trust Awarded for development of the Starlings project, transferred to Tandem Collective for project delivery. Oxfordshire Community Foundation Awarded for development of the Starlings project, transferred to Tandem Collective for project delivery. Stanton 8allard Trust Awarded for development of the Starlings project, transferred to Tandem Collective for project delivery. Oxford Univers5ty Communlty Fund Towards the Listen Upl project- part of the Education and Outreach programme. Wlthout Walls Consortium First part of grant towards touring Warning Notes by Mark Anderson. Oxford Unlversity Cultural Programme Towards Oxford presentation of Warning Notes and further development for touring purposes. 19. Analysls ol net assots between fund8 Unrestricted Totsl Fund8 Funds 2024 Tangible fixed assets Current assets Creditor5 less than 1 year Net assets 3,203 144,449 122,099) 125,553 3,203 144,449 122,099) 125,553 Unrestricted Total Funds Funds 2023 Tangible fixed a55ets Current assets Creditors less than 1 year Net assets 5,005 156,980 (11,125) 150,860 5,005 156,980 (11,125) 150,860 -26-