COMPANY REGISTRATION NUMBER: 03226828 CHARITY REGISTRATION NUMBER: 1062845 Oxford Contemporary Music Company Limited by Guarantee Unaudited Financial Statements 31 March 2025
Oxford Contemporary Music Company Limited by Guarantee Financlal Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the directovs report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position 11 13 14 Notes to the financial statements 15
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporaling the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charty for the year ended 31 March 2025. Chalr's report At OCM, a crucial element of our work has always been to support people in their creativity through talent development, education, commissioning and the presentation of new work. The companls primary objective is lo build relationships with audiences and communities around Oxlordshire, whilst also maintaining a national and international profile for showcasing new work. OCM aims lo contribute to creating a resilient sociely, nourished and bonded by sound and music, and most importantly to making high quality musi¢ accessible to as many people as possible. In 2024-25 OCM presented 14 performances., Supported 4 new commissions I r&d. Supported 19 artists supported in residencies,. 1042 audience members enjoyed OCM'S in-person events,. 5 OCM co-commissions toured: Warning Notes, Hack Poets Guild, Colony, Congregation and Chorus, reaching 14.641 people in England, Wales and China. Worked with 42 artists and 11 workshop leaderslguest speakers. Had 310 music workshop attendances with young people and adult participants,. Engaged 130 people at community events; Our collaborative project 'The Starling Sessions, with Tandem Collective held 37 regular sessions for around 33 regular attenders, plus 17 workshopslperformances in the community engaging 1071 people. OCM continued to support innovation by commissioning and presenting new work such as the sell-out presentation of 'Wlld Mix, by Jenny Moore, performed at No. 80, a new festival produced by YWMP in partnership with other local organisalions. OCM also commission8d 'The Inventlon ol Wonder,, a new music-thealre performanca by internationally acclaimed sound artist Flay Lee, presented within Ideas Festival Oxford. OCM'S creative development programme, BOOM, was once again supported by the PRS Foundation and we continue lo be embedded in th8 invaluable Talenl Development Network. Artist development is woven through all ol OCM'S work and we know that the work we are undertaking is having an impact. An example of success in this area is highlighled by the progress ol Ellie Wilson, one of our BOOM participants. Ellie look part in BOOM during 2023124 where she began developing the idea lor a new work exploring biodiversity Ihrough sound. Since then, Ellie has been commissioned by OCM through funds from PRSF to create Moth x Human, lo be performed as part ol the New Music Biennial 2025.
Oxford Contemporary Music Company Limlted by Guaranlee Trustees. Annual Report (Incorporatlng the Director's Report) feonllnued) Year ended 31 March 2025 We continue to tour successful commlsslons and thls year OCM secured Withoul Walls support lor 'Waming Noles, by Mark Anderson. This installationlperlormance toured to two of the consortium's festivals: Timber Festival Ico-commissioneys) and Stockton International Riverside Festival. leadirYJ to further bookings both in the UK and internationally. We have continued to build relationships with local artists through our collaboration with Tandem's Starfings Sessions, which are weekly during term limes with 30-40 people. This global folk community orchestra explores iraditional music from around the world Ihrough Ihe people of Oxford. OCM has established a partnership with Barton Neighbourhood Centre and Barton Library to deliver Ihree stinls of our family learning sessions, 'Music Matters,, which nurtures communication skills belween pre-school infantslchildren and their parentslcarers through song. We delivered further holiday workshops for early teens wilh 'Listen Upl, in collaboration with Oxfordshire County Music Service and Inspire Sounds, supported by Barton Community Association. We participaled in other Barton community even15 throughout the year, including a DJ at Love Barlon event, Barton Bonanza, and Christrnas Llghl Festival with Inspire Sounds and Junk Orchestra, "She's dancing when She hears music now. lik8 we're here" Father of 1.2 year old Barton is a priority area for the City Council in Oxford, In an outlying area with a very diverse population and limited opportunities for engaging in music and cultural activities in general. As well as placing Environmental Responsibility al the forefront of subjects for commissioning new work (Moth x Human) and artist development, we are progressing with reducing our own organisational impacl. Following on from the work undertaken in 23124 OCM continue5 to place Equalily, Diversty, Inclusion and Belonging at the heart ol learning and development along with our community collaboration programmes. In summary, this has been another year of lislening to the needs af audiences, developing artists. embedding with communities, and presenling carefully considered programmes and collaborative initiatives to reach as wide a range of audiences as possible locally, nationally and internationally. Richard Tooth Chair
Oxford Conlemporary Music Company Limited by Guaranlee Trustees, Annual Report (Incorporallng the Director's Report) {conHnued) Year ended 31 March 2025 Reference and administrative delall8 Reglstered charlty namè Oxford Contemporary Music Charfty regl8tratlon number 1062845 Company reglstratlon number 03226828 Prlnclpal off Ice and reglstered Room 136 olflce Headingion Hill Campus Oxford Brookes University Oxford OX3 OBP The truslees Stuart Fowkes Flichard Tooth - Chair Amenah Enayat Maria-Louiza Polymeropoulou Zahra Haji Falh Al Tehrani Danielle Battigelli Lisa Brionne-Gray Paul Whilty (Retired 1 October 20241 (Appointed 20 May 2024) (Appointed 20 May 2024) Company gecretary Joanna Ross Independent examlner N J Cadwallader FCCA For and On Behalf Of David Cadwallader & Co Limited Suite 3 Bignell Park Barns Chesterton Nr Bicester Oxon OX26 1TD
Oxford Contemporary Music Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlmmd) Year ended 31 March 2025 Structure, governance and management Oxford Contemporary Music is a company limited by guaranlee and a registered charity under the Charities Act. The charitable company is governed by its Memorandum and Articles of Association. It was incorp)raled as a company on 18 July 1996 (registered company number 03226828) and regislered by the Charity Commission on 13 June 1997 (charity number 1062845>. Directors are appointed by the Board,. Ihe Articles requir8 one third, or nearest to one Ihird, of direclors to retire annually, and they may offer Ihemselves for re-election. The board of directors meet four times a year to oversee the running of Ihe Charity. The Director, full time Deputy Director handle day-to-day administration. Key Personn81: Director- Jo Ross Interim Director.. Emma Dunton (from Nov 2024) Deputy Direclor.. 20251 Victoria Larkin {returned from maternity leave March Deputy DirectorlProducer Imalerniiy Cover).. Sherrell Perkln & Sarah Mayhew Craddock {conlracts finished in March 20251 Marketing Coordinator.. Isabel de Berrie Evenls Coordinator.. Sofia Lykou Programme Producer: Lauren Spiceley (until 20 Sepiember 2024} Kerry Priest (from 3 March 2025) Producer, Community & Learning.. Tessa Cavanna Oblectlves and acllvltleg The principal activity of OCM is to foster. support, promote and develop knowledge, understanding and appreciation of the arts Iwilh reference to contemporary musiclnationally by means ol event promotion, audience development, educational activities, marketing and fundraising, working with other bodies both lo increase accessibility lo and improve the slandards of practice and appreciation ol the arts. The Trustees have complied with Ihe duty in section 17{51 of the 2011 Charilies Act lo have due regard to public benefit guidance published by the Charily Commlsslon.
Oxford Contemporary Music Company Limited by Guarantee Truslees, Annual Report (Incorporaling the Dlrector's Report) (conllnued) Year ended 31 March 2025 Achievements and performance This year OCM has continued to connect meaningfully with audiences and communilies. We have commissioned and showcased a diverse range of artisls and produced impacllul work, and have laid exciting foundations for next year's activity- Our artist development wrK has continued lo support under-represented artists to explore and experimenl in working beyond Iraditional perlorrnan spaces. Wee toured shows to more people in priority areas in England and continue lo commission work on the theme ol the climate crisis and environmental sustainability. With partnership working across cuftural and other Sectors we've achieved more and ensured our work is relevant to our beneficiaries. Innovatlon, Collaboration and Publlc Space Our commissioning work Ihis year explored Ihem&s of communal songslsinging. arKI the intersection of science and sound, focussing on diverse audi8nc8s, communities, and places. In May, OCM partnered with the Young Women's Music Prolecl lo support Wlld Mix by Jenny Moor8 - an immersive choral punk musical performed by F"Cholr and kickboxers al the debut No. 80 festival. Blending communal singing, drumming, and kickboxing, the piece explores themes of solitud8 and iogetherness. Later in the year, OCM began the development of another project employing communal singing, thls time for communities in South Somerset la Priority Place lor Arts Council England). Working with Sweet Track Productions (Emma Dunton and Andrea Brown), we undertook a first phase of R&D for 'People Songs, Wlth writers, composers and musicians. The project aims to create a contemporary performance piece that has touring potential. inspired by lolk songs from Somersel and Ihe South West using collective singing lo create a sense of belonging and community. OCM commlssioned The Invenllon ol Wonder, pres8nled at Ideas Festival Oxford - a new music- theatre perfomiance by internationally acclaimed sound artist Ray Lee. Inspired by the Enlightenment. era Philosophical Table, Ray created a purpose-built soni¢ version to generate sound through ten ele¢iro-magnetic sculptural experlmenls. "It was inventive and humorous, fulfilling my expectation of having a wondrous experience.. (audience member) OCM commissioned Ellie Wilson's Moth x Human for the New Music Biennial 2025, funded by the PRS Foundation. The idea for this began during her time in OCM'S BOOM scheme120231241. The work sonilies moth data from the UK Centre for Ecology and Hydrology to explore biodiversity loss. Combining acoustic instrument5. field recordings, and electronics, the piece offers an emotive, immersive experience. The Northern School of Art contributed an impactful animation lor the live performance, created by sl udents working with Ellie. OCM produced Warnlng Notes, supported by Without Walls. which toured major UK festiva15 including Timber and Slocklon International Riverside. Created by Mark Anderson and Liam Walsh, the outdoor show creates a captivating sound-world through inslallation instruments and live performance to evoke urgent social and ecological themes. 11 also appeared at three Welsh festivals- Oriel Plas Glyn Y-wedchv Pwllheli. Wye Valley River Festival, Blaenavon Ironworks "Wowl The best thing at Timber - we came back 3 times over the evening to experience it at different times ol the evening.. (audience. Warning notes)
Oxford Contemporary Muslc Company Limited by Guaraniee Trustees. Annual Report (Incorporating the Dlreclor's Report) (¢ontlnu•d) Year ended 31 March 2025 "Slunning! Haunting, thought provoking...incredible experience" (audience, Warning Notes) OCM commissions continued to tour this year, reaching audiences all over the country and internationally. Ray Lee's 'Congregation' toured to Ansan Street Arts Festival and Shekou Theatre Festival in China, and he took 'Chorus' to Light Up Leicesler. Th8 Hack Poets Guild performed at Cambridge Folk Festival and WOMAD, and 'ColonV was presented in Crewe and London. Showcaslng new muslc We continued to showcase the best new musi¢ In a wlde range of genres, using venues across Oxford lo reach a diversity ol audiences. Through our ongoing partnershlp wlth Artsllnk INHS Oxford) we off 8r8d Warneford Hospital service users the opportunity to experience live music from Senegelise masler kora player Jali Fily Cissokho and then violinist Maya Kadish. We partnered up with Fusion Arts to present An-Tlng and lan Gallagher's 'Lost Communlcallons, in a 'meanwhile space, venue in the centre of Oxlord, "This is probably the most imaginative use of Al in an artistic sense I've 8e8n.. It's just.,,cosmic." (Daily Info review) With the North Wall Arts Cenlre. we brought Ghant éleclronique to the city, an international collective of singers and musicians blending ancienl song and electronic music. And in a special late op8ning of the Museum of Natural History, vocal group HOWL sang about night creatures in a collaboration with writer and naturalist Robert Macfarlane. "Please put on more of these amazing evenls. They work on so many levels and are such an important contribution to the cultural fabric of Oxford. They really stand out as unique and inspiring., (audience, HOWL with Robert Macfarlanel "Exemplary OCM offering unusual and high quality" (audience, HOWL wilh Robert Maclarlanel As we headed towards spring, percussionist Bex Burch and violinist Laurel Pardue performed an inventive and unique set in the intimate setting of Caper bookshop in East Oxford. We wrapped up ihe year with a collaboration with The Spin jazz club to present Elliot Galvin, Ruth Goller, Seb Rochford and Mandhira Oe Saram to a sell out crowd. Listening Parties punctuated the year in collaborations with Marmalade Festlval, Arts al the Old Fire Station and Common Ground, glving us a chance to connect with audiences and Ihe music they're passionate about. Learnlng and communlty OCM Is committed to invesling in long term programmes of connection and support wilhln ils learning and community activilies. Our focus continues in the collaborative project with Tandem Collective - The Starling Sessions - and a variety of WrkshopS and community events in the Barton area of Oxford (a priority area for the City Council), Starling Sessions continued term-time weekly sessions with 30-40 participants who shared their traditional music from around the world with the group. They performed across the city at ten communily events during the year and live community workshops. They've connected with Asylum Welcome lo extend Ihe project's reach to asylum seekers in the cily. A 'storytelling evaluation, of the project was also produced, using interviews wilh the participants, to reflect on the profound impacl of the Starling Sessions work..
Oxford Contemporary Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu•d) Year ended 31 March 2025 httpsjldrive.google.comlfileld11 cqKvpCbwyqu88Lbh8u1 urCelRwFMyYPYfview "Your performance was truly uplifting and in my book that is so much better than any prescription a GP can hand out. especially when thinking about people's mental wellbeing, and we want you backl" (audience member, Barton Food Feslivall. Within Barton we established a partnership wilh 8arton Neighborhood Centre and Barton Library to deliver three sts'nts of our family learning sessions. 'Music Matters,, nurturing communication skills between pre-school infantslchildren and their parentslcarers through song. "It's so great to have something Ilke this in Barton. Parent 'She's dancing when she hears music now, like we're here. Father of 1.2 year old "He slngs 'helloooooo" since joining the sessions" Father of 3 year old We delivered more holiday workshops for early leens with 'Listen Upl, In collaboration with Oxfordshire County Music Service and Inspire Sounds, supported by Barton Community Association. "Are you coming back? I want lo do more muslc. workshop participant, age 9'Music supports me cause11 helps me express myself" _ workshop participant, age 14 We supported communlty events in Barton throughout the year, including a DJ at Love Barton event and Barton Bonanza, a musiclavatar creation workshop in collaboration with Dancin Oxford, Inspire Sound5 and Junk Orcheslra for the Christmas Light Festival, and carollers lor the Barton Chrislmas Community Dinner. Artist development OCM ran three artist development initiatives this year: CODI BWMI, BOOM, and Climate Lab 2, supporting artists to build the skills and knowledge needed to work beyond conventional performance sellings, engage large and diverse audiences, and respond to Ihe climate crisis within their work. CODI BWMI continued, led by Ty Cerdd (music centre Wales} in collaboration with OCM and Articullure. The second year ol the scheme focusecl on project development lor the four artists on the scheme, working towards a work-in-progress sharing in 2025126. The 2024125 BOOM artists were Antonio Roberls, KlangHaus, Liz Hanks, and Tel Adeleye. All of the artists said that the scheme met their expectations and that Ihey could foresee long term impactsloutcomes from taking part. "Our confidence, permission to create OLrtdoor vffjrk, expertise to do so and support system has grown. We feel we have an enriched network of opportunities to develop work outside." In October collaborated wilh 101 Outdoor Arts and the University ol Oxford's Environmental Change Instilute and Environmental Humanities Hub to hold a second Cllmate Lab. Twelve artists from a range of disciplines took parl in five days of supported exploration of how to use their creative practice to communicate the climate crisis, blending expert insights from university researchers and international guest speakers, hands-on activities, and collaborative reflection. Building resillence OCM has made further progress and maintained good practice in areas of financenunding, operations, environmental sustainability, and EDIB (equality. diversity, inclusion and belonging).
Oxford Contemporary Muslc Company Limited by Guaraniee Trustees, Annual Report (Incorporallng the Dlr8Ctor's Report) (conllnu•d) Year ended 31 March 2025 Envlronmental sustainabillty OCM continued its commitment to commission and support the development of work thal reflecls on the impact of the climate crisis (Ellie Wilson's Molh x Human, Codi BWMI. Climate Lab). We ensured that all staff had Climate Literacy training and achieved certification, and one of our Trustees (Danielle Battigellil signed up to Arts Council England's Board Environmental Champions initialive. Other prc*Jress includes switching to environmentally responsible banking, improving the environmenlal rating on the OCM websile, and proactive messaging to audiences for every event around transport options thal help to reduce th8 carbon footprint of our activities. Annual data was again uploaded to Ihe Julie's Bicycle Creative Climale Tools lo help us assess our carbon footprint and progress on sustainabilily, which is now 50V. less than In 2018119. EDIB We continue to gather data and commlt to long term, ongoing change to improve the organisation's equality, diversily, and inclusion across its activities and work practices. We have worked on expanding our pool, and diversity ol mLJSiC leaders in collaboration wlth Music at Oxlord. We exceeded our aim that young people engaged within our outreach work should be more diverse than Ihe Oxford population in general. We've continued to improve visual accessibility and clarity of the OCM websit8, ensured our social media posts were more dyslexia-friendly, and made accessibility information lor all venues available on our website and in communication with audiences. All recruitment ol artists is founded upon principl85 of ensuring diversity and a minimum of 50 % identifying with protected characteristics (usually more). Stalf recruitment was planned to ensure best practice in how we advertlS8 vacancies and shorllist candidates and worf( with external experts whenever practicable. OCM is an active member ol of OCARA (Oxford Cultural Anti-Flacist Alliance).
Oxford Contemporary Music Company Limited by Guaranlee Truslees. Annual Report (Incorporaling the Dlrector's Report) (contlnued) Year ended 31 March 2025 Financlal revlew Financlal & Operatlons We finished this financial year with a surplus. most of which is ringfenced for activity that spans Ihe two financial years of 202415 arKI 202516. OCM has secured a solid financial foundation for ils ongoing operations. 2024125 is the second year ol our three year Arts Council England National Portfolio Organisation agreement and we secured an extension for a fourth year12026127 conlinned in June 2025} after ACE postponed a new funding round. 2024125 is the final year of our Oxford City Council Big Ideas granl agreement and we will apply to this again in 2025. We secured a grant from a new funder, Well Together, and once again secured PRS Foundation Talent Developmenl Network funding Iwith an increase on last year), Oxford Cily Council Christmas Light Festival lunding, PRSF New Music Biennial 2025 grant (last secured in 20171, a grant from Slanton Ballard Charitable Trust, and a donation from Merton College. With OCM'S support, funding from Awards for All was secured for the Starling Sessions project. Operationally, we have also sustained the organisation's resilience by continuing to.. Maintain a robust level of reserves to include winding up costs and contingencies for the organisalion and larger projects- Ensure staff retention is strong through annual performance and job reviews with staff members and by supporting iheir 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. A new overarching employee handbook was created, encompassing all ol OCM'S HR policies, which were updated and added lo in line with recent and forlhcoming changes lo Employment Law. Staff training included IOSH Managing Safely at Evenls training course for several members of staff, a Fire Marshall training course lor our Events Coordinator. Several members ol staff are 1 st Aid trained at the highesl level lor the workplace. The Income and Expenditure account shows a surplus of £18,173 {2024 deficit.. £25,307) making the balance carried forward al 31 March 2025 of £143.726. The balance was in line with Ihe budgel for the year and the Trustees expectations and strategy for the Charity. The closlng position at the end of the flnancial year is that the company retains £27,401 In free reserves in addition to a ring-lenced amount equivalent lo 3.5 tull months ol winding up costs, as prolected lor the 2025126 financial year. The Trustee directors consider that the position of the company as at 31 March 2025 is satisfactory. Re8erve$ The charily aims to hold cash reserves at the level of between 3 and 5 months of operating costs in order to cover fluctuations in cash Ilow and winding down costs in the circumstance that the charity ceases trading. This is shown under the Unrestricted Funds - 'General Funds,. and the currenl shown is sufficient to cover 3.5 months of projected costs in fiscal year 2025126. The charity also holds cash reserves for Organisational Contingency to include higher risk events and
Oxford Contemporary Music Company Limiled by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (¢onllnuedJ Year ended 31 March 2025 projects. It also holds additional funds that the Trustees have agreed will be used for development funding such as updating of otfice equipment and project development. This is shown under the Unrestric18d Funds 'Project funds,. R13ks The major risks to which the charity is exFX)sed, as identified by the truslees, have been reviewed and systems have been established io mitigale Ihose risks. Plan8 for luture p?rlods A robust 3 year plan was put together as part of OCM'S application process for Arts Council England's National Portfolio Organisation funding 2023-26. OCM secured this lunding and delivery of Ihis programme has continued as planned inlo year 2 across all 4 strands of activity of this new plan. which includes events programme, commissioning, artist developrnent. and educalionloutreach and adclresses ambition and quality of our work, dynamism of the organisation, inclusivity and relevance. and environrnental responsibility. These plans are reviewed regularly by the staff and Board of Trustees, and are integrated into OCM'S operational work and policies. Small company prov181on8 This report has been prepared In accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on Irustees by.. oql.i&l)S.... and signed on behalf of the board of Richard Tooth Chair 10-
Oxford Contemporary Music Company Llmlted by Guarantee Independenl Examlner's Report lo the Trustees of Oxford Contemporary Muslc Year ended 31 March 2025 I rewrt to the trustees on my examination of the financial statements of Oxford Contemporary Music ('the charity'i lor the year ended 31 March 2025. Responsibilities and basls of report As the trustees of the company (and also its directors for the purposes ol company law) you ar8 responsible for the preparation ol the financial stat8ments in accordance with Ihe requirements of Ihe Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounls of the company are not required to be audiled under Part 16 of the 2006 Act and are eligible lor 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 {'Ihe 2011 Act,). In carrying oul my examination I have followed the Directions given by the Charity Commission under section 14515)Ibl ol the 2011 Act. Independent examlner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body Ilsted in section 145 of the 2011 Act. I confirm that l am qualified lo undertake Ihe examination because l am a member of the Association ol Chartered Certified Accounlanls, vthich is one of the listed bodies. 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.. accounting records were not kept in respect ol the charity as required by Section 386 of the 2006 Act., or the financial statements do not accord wilh those records., or the financial statements do not comply with the accounting requiremenls of secllon 396 of Ihe 2006 Act other than any requirement that the accounts giv8 a 'true and fair. view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordanGe with Ihe Financial ReF)Orting Slandard applicable in the UK and Republic of Ireland IFRS 102)- 11
Oxford Contemporary Music Company Limited by Guarantee Independent Examiner's Report to the Truslees of Oxford Conlemporary Music (wiVnu•d) Year ended 31 March 2025 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 underslanding of the accounts to be reached. N J Cadwallader FCCA For and On Behalf Of David Cadwallader & Co Limited Independent Exarniner Suite 3 Bignell Park Barns Chesterton Nr Bicester Oxon OX26 1TD 12-
Oxford Contemporary Music Company Llmlted by Guarantee Slatement of Financial Aclivllles (Includlng income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted lunds Nole Income and endowments Donalion5 and legacies Charitable activilies 189,729 44,710 39,850 229,579 44.710 274,289 234,354 13.921 Total Income 234,439 39,850 248,275 Expendlture Expendilure on charltable aclivitles Total expendlture 227,086 227,086 29,030 256,116 273,582 29,030 256,116 273,582 Net Incomel(expendllure) and net movement In funds 7.353 10,820 18,173 (25,307) Reconclllatlon of fund3 Total fund5 brought forward Total funds carrled forward 125,553 125,553 143,726 150,860 125,553 132,906 10,820 The Statement of financial activilies includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities. The not88 on pages 15 10 25 form part of these Ilnanclal slalemonls. 13-
Oxford Contemporary Muslc Company Limiled by Guarantee Statement of Financlal Posltlon 31 March 2025 2025 2024 Flxed assets Tangible fixed assets 14 1.664 3,203 Current 888el¥ Debtors Cash at bank and in hand 15 11.233 137,040 148,273 12.750 131,699 144,449 Credltors: amoun18 falllng due wlthln one year Not Current assetg 16 6,211 22,099 122,350 142,062 143,726 143,726 Total assots les8 current Ilabllltles 125,553 125,553 Net agsels Fund8 of the charlty Restricted funds Unrestricted funds 10,820 132,906 143,726 125,553 Totsl charlty funds 18 125,553 For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Acl 2006 relating to small companies. Direclors, responsibilities: The members have not required Ihe company to (Jbtain an audit of its financial statements lor the year in question in accordance with section 476., The directors acknowledge their responsibilities lor complying with the requirements ol the Act with respect to accounting records and the preparation ol financial slaiemenls. Thes8 financial statements have been prepared in accordance wSth the provisions applicable to companies subject to th8 small companles. regime. Thes flnanclal statements were approved by the board of Irustees and authorised for issue on oql and are signed on behalf of the board by: Richard Tooth Chair The notes on pagos 15 to 25 form part ol these flnan¢ial gtatements. 14-
Oxford Contemporary Music Company Limiled by Guarantee Notes to the Financial Slalemenls Year ended 31 March 2025 General Informallon 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 OBP. Statement of compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charitios preparing iheir accounls in accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP IFRS 102)) and the Companies Act 2006. A¢countlng pollcies Ba8ls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al lair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concem The accounts have been prepared on a going concern basis. There are no mal8rial uncertainties about the charity's ability to continue. Arts Council England have offered a National Porlfolio Organisation grant agreement for 2023-2027, giving the charily core funding security for four years. PRSF Talent Development Network funding agreement is for three years 2023-2026. Other grant funding is applied for annually. Judgements and key sources of estlmallon uncertalnty The preparation of the linancial stalements requires management to make ludgemenls, estimates and assumptions that allect the amounts r8POrted. 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 estlmates and assumptions are made concerning the future and, by their nature, will rarely equal the relaled aclual outcome. The key assumptions and other sourc8s of estimation uncertainly that have a significant risk of causing a material adju5tmenl to the carrwng amounts of assels and liabilities within the next financial year are as follows-. Deferred income has been calculated to reflect the elemenl of grant income which was unspent on projects at the year end. 15.
Oxford Contemporary Music Company Limlted by Guarantee Not8S to the Financial Slalements (contlnuadj Year ended 31 March 2025 Accounting policies feontlnued) Fund accountlng Unrestricted funds are available for use at Ihe discretion of the trustees to further any of the charilys purposes. Designaled lunds are unrestricted funds earmarked by the trustees for particular fulure proj8Ct or commitment. Restricted funds are subjected to restrictions on Iheir expendSture declared by the donor or through the terms of an appeal. and fall into one ol two sub.classes: restricted income funds or endowment funds. Incomlng r?8ourceg All incoming resources are Included in the statem8nt of financial activities when enlillement has passed lo the charity., it 15 probable that Ihe economic benefits associated with the Iransaction will flow to the charity and the amount can be reliably measured. Th8 followlng specific policies are applied to particular categories ol income.. income from donations or grants is recognised when there is evidence of enlitlement to the gift, rec8lPt 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 seniices are recognised in the accounts when received if the value can be reliably measur8d. No amounts are included for the conlribution of general volunteers. income from contracls for the supply ol services is recognised with the delivery of the conlracted 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 11 may be regarded as restricled. 16-
Oxford Contemporary Music Company Llmiled by Guarantee Notes to the Financial Statements Iconllnuodj Year ended 31 March 2025 Accounllng policies (contlnuad) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slalement of financial activities to which il relat8S: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading aclivilies, and the sale of donated goods. expenditure on charitable aclivilies Includes all costs incurred by a charity In undertaking aclivilies that further its charilable aims for Ihe benefit of ils beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expendlture Includes all expenditure that is neither related to raising funds lor the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categorie5 reflectlng the use of the resource. Dlrect costs attribulable lo a single activity are allocated directly lo that activity. Shared casts are apportioned between the activities they Contribute lo on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequently stated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the lair value at the date of revaluation less any subsequ8nt accumulated depreciation and subsequent accumulated impairrnent losses. An increase in the carrying amounl of an assel as a result of a revaluation, is recognised in other recognised gains and losses, unless il r8verses a charge for impairment that has previously been recognised as expenditure within th8 Statemenl of financial aclivities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which it off sets any previous revaluation gain, in which case the loss is shown within olher recognised gains and losses on the slat&ment of financial activities. Doprnclatlon D8preciation is calculaled so as lo wrlte off the cost or valuation ol an asset, less ils residual value, over the useful economic lrfe of thal asset as follows: Equiwent 25¥0 straight Ilne Impalrnienl of flxed assets A review for indicators of impairment is carried out at each reporting date, wilh the recoverable amount being estimated where such indicalors exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for wssible reversal at each reporting date. 17-
Oxford Contemporary Muslc Company Limited by Guarantee Notes to the Flnanclal Statements (contlnuad) Year ended 31 March 2025 Accountlng pollcles (contlnu•d) Impairnient ol flxed assets {contlnuod) For the purposes of impairment testing, when it is not possible to estimate Ihe recoverable amount of an individual assel, an eslimate is made of the recoverable arnount of the cash- generating unit to which Ihe ass81 belongs. The cash-generating unit is the smallest idenlifiable group ol a55ets that includes the asset and generates cash inflow5 that largely independent of the cash inflows from other assets or groups of assets. For impairmenl lesting of goodwill, the goodwill acquir8d in a business combination Is, from the acquisition date, allocated to each of the cash-generating units Ihat are expected lo benefit from the synergies ol the combination, irrespective of whether other assets or liabilities of the charlty are assigned to those unil5. Deflned contrlbutlon plans Contributions to defined conlribulion plans are recognised as an 8xpense in the period In which the related seNice is provided. Prepaid contributions are recognised 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 ol the end of the reporting date in which the employees rerKler 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. Llmltod by guarantee The Company is limited by guaranlee and has no share capital. In the event that the Company is wound up, the liability of the members is limited to one pound. Donatlon8 and legacles Unrestrict8d Funds Restrlcted Total Funds Funds 2025 Donallons Donalions 528 528 Grants Oxford Cily Council grants PRSF grants Arts Council England, South Easi NPO grant The Cultural Programrne Swan Mountain Trust Stanton Ballard Trust Oxfordshire Community Foundation University of Oxford Community Fund Without Walls Consortium Well Together Grant 6.880 28,400 28,400 189,201 189,201 500 500 70 4,000 70 4,000 229,579 189,729 39,850 18-
Oxford Contemporary Music Company Llmlted by Guarantee Noles to the Financial Stalements (contlnued) Year ended 31 March 2025 Donallons and legacles (contlnued) Unrestricted Funds Restricted Total Funds Funds 2024 Donation8 Donations 1,025 1.025 Grants Oxford City Council grants PRSF grants Arts Council England, South East NPO grant The Cultural Programme Swan Mountain Trust Stanton Ballard Trust Oxfordshire Community Foundation University of Oxford Community FLJnd Without Walls Consortium Well Together Grant 5,000 12,500 189.201 1,600 6,600 12,500 189,201 9,000 4,000 500 9,895 1.000 633 9,000 4,000 500 9,895 1,000 633 207,726 26,628 234,354 Charltable actlvltles Unrestricted Total Funds Unrestricted Tolal Funds Funds 2025 Funds 2024 Other income from charitable activilies 44,710 44,710 13,921 13,921 Expendllure on charltable acllvltleg by fund type Unrestricted Funds Restricled Total Funds Funds 2025 Projects Concerts Educalion Overheads 33,583 32,307 19.570 53,153 32,307 7.055 163,601 256.116 7,055 2,405 29,030 161,196 227,086 Unrestricled Funds Restricted Total Funds Funds 2024 PrO1ts Concerts Education Overh8ads 43,494 29,551 8,616 165,293 246.954 24.028 67,522 29,551 11,216 165,293 2,600 26,628 273.582 19-
Oxford Contemporary Music Company Llmlted by Guarantee Notes to tha Financial Ststements (Mntlnu•d) Year ended 31 March 2025 Expendllure on charilable activities by aclivity type Activities undertaken Tolal funds direclly 2025 Total fund 2024 Projects Concerts Education Overheads 53,153 32,307 7,055 163,601 256,116 53.153 32,307 7,055 163,601 256.116 67,522 29,551 11,216 165.293 273,582 Net Incornel(expendlture) Net incomellexpendlturel Is staled after chargingl(creditingl', 2025 2024 Depreciation of tangible fixed assets 1,539 1,802 10. Indep¢ndent examlnatlon lees 2025 2024 Fees payable lo the independent examiner lor: Independent examination of the financial statements 2,340 2,142 11. Staff costs The total staff costs and employee benefits for the reporting perlod are analysed as follows: 2025 2024 Wages and salaries Social security costs Employer contributions io pension plans 116,890 2,680 8,571 128,141 116,152 3,371 9,287 128,810 The average head count of employees durlng the year was 612024: 61. The average number of full-time equivalent employees during the year is analysed a5 follows: 2025 No. 2024 No. Number of staff - charitable No employee received employee benefits of more than £60.000 during the yeaf12024: Nil)-
Oxford Contemporary Music Company Llmlted by Guarantee Notes lo the Financial Statements (conNnued) Year ended 31 March 2025 12. Trustee remuneration and expense8 No Trustees Yre paid expenses in the year12024- £nil). One Trustee reiVed £330 in respect of artists fees. The transaction was at arms length. There was no other remuneration or other benefits from employment with the charity or a related entiiy which were received by the trustees. 13. Transfers between funds Fund transfers represents transfers from unrestrlcted to restricted funds to account for excess expenditure on projects. 14. Tanglble flxed assets Equipment Total Cost At 1 Aprll 2024 and 31 March 2025 Depreclatlon At 1 April 2024 Charge for the year At 31 March 2025 15,348 15.348 12,145 1,539 12,145 1,539 13,684 13,684 Carrylng amount At 31 March 2025 1,664 3,203 1,664 3,203 At 31 March 2024 15. Debtorg 2025 2024 Trade debtors Prepayments and accrued Income Other debtors 10,171 1,062 11,017 1,089 644 11.233 12,750 16. Credltorg.. amounts lalllng du8 wllhln one year 2025 2024 Trade creditors Accruals and deferred income Social securily and other taxes Other creditors 1,792 2.341 1,300 778 11.561 10.537 6,211 22,099 21
Oxford Contemporary Music Company Llmlted by Guaranlee Notes to the Flnancial Ststements (contlnu•dJ Year ended 31 March 2025 17. Penslons and other post retiremont bonafits Dellned contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined Contribution plans was £8,57112024: £9,287). 18. Analysls of charltable lunds Unreatrlcted funds At 1 April 2024 31 March 202 Income Expendlture Transfers General funds Project costs Organisational Contingency 105,305 10,248 234,439 (227,0861 17,153} 7,153 105.505 17,401 10,000 125,553 10,000 132,906 234,439 (227.0861 At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds Projecl costs Organisational Contingency 105,243 25,217 221,647 (227,0151 (10,1991 5,430 14,770) 105,305 10,248 20,400 150,860 (9,7401 1246.9541 1660) 10,000 125,553 221,647 General Funds 3 10 5 months of operating costs in order to cover fluctuations in cash flow and winding down costs in the circumstance that the charlty ceases tradlng. Project Funds Reserves held for project exp6nditure straddling two financial years, plus developmental activities, fundraising (match funds ringfenced from ACE Catalyst Evolve project) and replacement of essential office equipmont. Organlsatlonal Contlngency A conlingency fund to mitigate against organisational and project financial risks and losses. -22-
Oxford Contemporary Music Company Limited by Guarantee Notes lo the Flnanclal Ststements (contlnued) Year ended 31 March 2025 18. Analysis of eharilable lunds {¢onllnued) Restricted funds At 1 April 2024 At 31 March 2025 Income Expenditure Transfers Oxford City Council Christmas Light Festival Granl Swan Mounlain Trust Oxfordshire Community Foundation Stanton Ballard Trusl University of Oxford Community Fund Wilhout Walls consortium funding The Cultural Programme PRS for Music Foundation Talent Development Network Grant OCVA & Community First Well Tog8ther Grant PRS for Music Foundation - New Music Biennial 2025 OCC Big Ideas 1.880 (1,3601 520 500 (500) 70 1701 18,000 (18,0001 4,000 (3,1001 10,400 5,000 (1 ,0001 (5,0001 (29,0301 9,400 39,850 10,820 At 1 April 2023 At 31 March 2024 Income Expenditure Transfers Oxford City Councll Christmas Lighl Festlval Grant Swan Mountain Trust Oxfordshire Community Foundation Stanlon Ballard Trust University of Oxford Community Fund Wilhout Walls consortium funding The Cultural Programme PFIS for Music Foundation - Talent Development Nerk Grant OCVA & Community First Well Together Grant 1,600 4,000 (1 ,6001 (4,0001 9,895 500 (9,8951 15001 1,000 11,0001 633 9,000 1633) {9,000) -23-
Oxford Contemporary Music Company Limlted by Guarantee Notes to Ihe Flnanclal Slalements (contlnuaLIJ Year ended 31 March 2025 18. Analysis of charltable funds (contlnued) PRS for Music Foundation - New Music Biennial 2025 OCC Big Ideas 26,628 (26,6281 Oxford Clty Councll Community Impact Fund Awarded for delivery of Ihe Educalion and Outreach programme. Swan Mountaln Trust Awarded for development of the Starlings project, transferred to Tandem Collectiv8 for project delivery. Oxlordshlre Communlty Foundat5on Awarded for development of the Starlings project, transferred to Tandem Colleclive for project delivery. Stanton Ba118rd Trust Awarded for development of Ihe Starlings project, transferred lo Tandem Collective lor project delivery. Oxford Unlvorslty Communliy Fund Towards the Listen Upl project - part of the Education and Outreach programme. Wlthoul Walls Consortlum Grant toward5 touring Warning Notes by Marf( Anderson. Oxlord Unlverglty Cultural Programme Towards Oxford presentation of Warning Not8s and further development for touring purposes. PAS for Mu8lc Foundatlon - Talent Developmenl Nelwork Awarded to support our talent dev8lopmenl activity. OCVA & Communlty Flrsl Well Together Grant awarded for community and participation work in the Barton area of Oxford, using music making activities and music events lo support the wellbeing and mantal heallh of people, in particular families with pre-school children, and early teens. PRS for Muslc Foundatlon - New Muslc Blennlal 2025 Grant awarded to create and presenl the new commission 'Moth x Human, by Ellie Wilson for the PRSF New Music Biennial 2025 leslivals at Bradford City of Culture 2025 and Ihe Soulhbank Centre. OCC Blg Ideas Awarded lo support a range of activity delivered in Oxford City in line wilh the Ciiy Council's priorities. -24-
Oxford Contemporary Music Company Limiled by Guarantee Notes to the Financlal Statements (eonllnu8dJ Year ended 31 March 2025 19. Analysis ol net a88ets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditor5 le55 than 1 year Net assets 1,664 137,453 (6.2111 132,906 1,664 148.273 (6R11) 143,726 10,820 10,820 Unrestricted Funds Restricted Total Funds Fund8 2024 Tangible fixed assets Current assets Creditors18ss than 1 year Net assets 3,203 144,449 {22,0991 125,553 3.203 144,449 122,0991 125,553 -25-