OXFORD CHAMBER MUSIC FOUNDATION LIMITED (A company limited by guarantee)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS Year ended 28 February 2025
| INDEX | ||||
|---|---|---|---|---|
| Page | 1 | Legal and administrative details | ||
| 2 | - | 3 | Trustees’ Report | |
| 4 | Independent Examiner’s Report | |||
| 5 | Statement of Financial Activities | |||
| 6 | Balance Sheet | |||
| 7 | - | 9 | Notes to the Accounts |
Registered Charity No. 1080114 Registered Company No. 03925390
OXFORD CHAMBER MUSIC FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE DETAILS
Trustees and Directors
Nicola Brown Clare Harbord Brian Hardy William Pouget Robert Warner FCA, Treasurer Charity Details
| Name of Charity: | Oxford Chamber Music Foundation Limited |
|---|---|
| Registered Charity number: | 1080114 |
| Date of Charity registration: | 30 March 2000 |
| The Charity is a company limited by guarantee, registered in England as company number: 03925390 | |
| Date of incorporation: | 14 February 2000 |
| Registered address: | 30 St Giles |
| Oxford | |
| OX1 3LE | |
| Company Secretary: | Robert Warner FCA |
| Independent Examiner | Lee Baker FCA |
| Wenn Townsend | |
| Chartered Accountants and Statutory Auditor | |
| 30 St Giles | |
| Oxford | |
| OX1 3LE |
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
Objectives and activities
The Company is governed by its Memorandum and Articles of Association.
The principal object of the Company is stated as follows in the Memorandum of Association:
“The Company is established to promote, maintain, improve, and advance education by the encouragement of the arts, in particular but not exclusively music, and to formulate, prepare and establish schemes therefor, provided that all objects of the Company shall be of a charitable nature.”
Activities in the year
The 2024 programme started with a summer concert held on 6 July in Christ Church Cathedral, Oxford, where a full house was treated to the performance of Ravel’s magical Sonata for Violin and Cello alongside Brahms’ Piano Trio No. 1, which is considered one of the greatest piano trios ever written.
The main autumn Festival was then held from 23-28 September, under the theme ‘ These Enchanted Isles’. We welcomed one of the World’s great string quartets, the Quatuor Ébène, who also led masterclasses for young ensembles, together with the Bechstein Trio and one of the giants of the keyboard, Elizabeth Leonskaja. It was also a delight to see the return to the Festival of Hugo Ticciati’s O/Modernt Chamber Orchestra, Natalie Clein, Brian O’Kane, Julius Drake and Reto Bieri, amongst others.
Enthusiastic audiences at Christ Church Cathedral, Holywell Music Room and SJE Arts were treated to a total of twelve concerts, performing works from a wide variety of composers including Adès, Beethoven, Britten, Byrd, Elgar, Frank Martin, Handel, Rebecca Clarke, Samuel Coleridge-Taylor and Vaughan Williams. Attendances were significantly higher than the previous year, although we still have work to do to restore the support from Friends and Angels to pre-pandemic levels. The Trustees are hugely grateful to all our volunteers, without whom the Festival would not be possible.
The 2025 Festival was held in September and will be reported on next year.
OCMF remains immensely grateful to all the Trusts, Foundations, businesses and educational establishments, together with our Patrons, Angels and Friends who continued to support us financially as we continue to emerge from this most difficult period.
The Trustees have had regard to the Charity Commission’s guidance on public benefit in carrying out these objects.
Financial Review
It was pleasing to see income recover to pre-pandemic levels at last. Ticket sales were well up on the previous few years and we were fortunate to receive a significant donation from a new donor, who wishes to remain anonymous. Expenditure budgets continue to be very tightly controlled, although we were able to expand activities in line with the resources available. As a result, total incoming resources for the year increased to £83,488 (2024: £54,542), and total resources expended increased to £82,538 (2024: £56,079). Net incoming resources, as shown in the Statement of Financial Activities, were therefore £949 (2024: outgoing £1,537). The Charity carries forward a reserves balance at 28 February 2025 of £7,579 (2024: £6,630), all of which is considered to be free reserves.
Since the year-end, the Charity has been able to raise sufficient further funds in order to launch a festival in 2025. As a result of these ongoing fundraising efforts by the Trustees, and the Charity’s very low running costs and careful financial management, the Trustees are satisfied that the Charity will continue to operate as a going concern.
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
TRUSTEES’ REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 (continued)
Financial Risks and Reserves Policy
Board meetings continue to be held at least every two months. The Trustees are aware of the financial risks of the Company, particularly in view of the limited reserve funds, and accordingly take great care in assessing all risks before deciding to hold a festival. Their policy is to try to build the reserves to a level equivalent to at least half of the estimated expenditure required to hold the following year’s festival, in order to provide some level of assurance that the successful concert series will be able to continue.
Structure, Governance and Management
The Charity is a company limited by guarantee which is governed by its Memorandum and Articles of Association.
Trustees
The Charity’s governing body is the Board of Trustees, whose members are trustees under charity law and directors of the Company for the purposes of the Companies Act 2006. The Company’s Articles of Association require that, at each Annual General Meeting, all directors who were appointed since the previous Annual General Meeting, together with one third of all other directors, submit themselves for re-election by the Members. New directors are appointed as necessary by the existing board during the year and briefed on the objectives of the Charity, and trustees’ responsibilities and duties in general. The current Trustees are shown on page 1 above and the Trustees who served during the year under review and subsequently were as follows:
Nicola Brown Clare Harbord Brian Hardy William Pouget Robert Warner
The Trustees received no payment from the Charity during the year by way of remuneration. This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.
……………………………………………….
R H Warner – Trustee 24 November 2025
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INDEPENDENT EXAMINER’S REPORT TO OXFORD CHAMBER MUSIC FOUNDATION LIMITED
I report to the charity trustees on my examination of the accounts of the company for the year ended 28 February 2025 which are set out on pages 5 to 9.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Lee Baker FCA Wenn Townsend Chartered Accounts and Statutory Auditor Oxford
24 November 2025
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 28 FEBRUARY 2025
| Note Incoming resources Incoming resources from generated funds: Donations and gifts Friends’ subscriptions Income from charitable activities: Sales of tickets and programmes Total incoming resources Resources expended Expenditure on charitable activities: Festival costs 2 Support costs 3 Governance costs 4 Total resources expended Net incoming / (outgoing) resources for the year Funds brought forward Funds carried forward |
Unrestricted funds 2025 2024 £ £ 38,185 23,063 10,002 10,321 35,301 ______ 21,158 __ 83,488 ______ 54,542 _ 80,374 55,112 1,210 307 954 ______ 660 82,538 ______ 56,079 949 (1,537) 6,630 ______ 8,167 ___ 7,579 ═════ 6,630 ═════ |
|---|---|
None of the Company’s activities was acquired or discontinued during the above financial years.
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
BALANCE SHEET AT 28 FEBRUARY 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 14,535 | 8,241 | |
| Debtors | 5 | 2,185 | 2,210 |
| ______ | ______ | ||
| 16,720 | 10,451 | ||
| Creditors: amounts falling due within one year | 6 | (9,141) | (3,821) |
| ______ | ______ | ||
| Net assets | 7,579 | 6,630 | |
| ═════ | ═════ | ||
| Reserves | |||
| Unrestricted funds | 7,579 | 6,630 | |
| ═════ | ═════ |
For the year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities
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the members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476;
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the Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements are prepared in accordance with the provisions of the Companies Act 2006 subject to the small Companies regime and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and were approved by the Trustees on 24 November 2025 and signed on their behalf by:
………………………………………………….
R H Warner – Trustee
Registered number: 03925390
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1 ACCOUNTING POLICIES
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Company’s accounts:
a) Basis of accounting
The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, accounting and reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015) (Charity SORP FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The company has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Oxford Chamber Music Foundation Limited meets the definition of a public benefit entity under FRS 102.
b) Incoming resources
Donations and grants
Income from donations and grants, including capital grants, is included in incoming resources when these are receivable except as follows:
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when donors specify that donations and grants given to the Charity must be used in future accounting periods, the income is deferred until those periods.
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when donors impose conditions, which have to be fulfilled before the Charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
Income from friends’ subscriptions
Friends’ subscriptions are recognised on a straight-line basis over the life of the subscription
Income from charitable activities
Income from commercial activities is included in the period in which the Company is entitled to receipt, which is normally when a performance takes place.
c)
Resources
Resources expended are recognised when a liability is incurred by either a legal or constructive obligation arising.
Charitable activities include expenditure associated with distributions to projects, including an element of support costs.
Governance costs include those costs involved with the governance of the Charity and are primarily associated with constitutional and statutory requirements.
d)
Funds
All funds are unrestricted as they relate to the Charity’s principal objective.
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 28 FEBRUARY 2025
e) Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
f) Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.
| 2 FESTIVAL COSTS Artists’ costs Festival management Publicity and programmes Concert venues, rehearsal facilities and pianos 3 SUPPORT COSTS General administration 4 GOVERNANCE COSTS Independent examiner’s fee |
2025 £ 31,451 28,672 9,043 11,208 _ 80,374 ═════ 2025 £ 1,210 ═════ 2025 £ 954 ═════ |
2024 £ 17,714 24,289 4,885 8,224 |
|---|---|---|
| _ 55,112 ═════ 2024 £ 307 ═════ 2024 £ 660 ═════ |
The Trustees received no payment from the Company during the period by way of remuneration.
| 5 DEBTORS Gift Aid Tax recoverable Other debtors and prepayments |
2025 £ 1,300 885 _ 2,185 ═════ |
2024 £ - 2,210 |
|---|---|---|
| _ 2,210 ═════ |
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OXFORD CHAMBER MUSIC FOUNDATION LIMITED
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 28 FEBRUARY 2025
| 6 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors and accruals |
2025 £ 9,141 _ 9,141 ═════ |
2024 £ 3,821 |
|---|---|---|
| _ 3,821 ═════ |
7 TRUSTEES’ REMUNERATION
The Trustees received no remuneration or reimbursed expenses during the current or preceding periods.
8 KEY MANAGEMENT PERSONNEL REMUNERATION
The Trustees consider that they comprise the key management personnel of the Charity. As all Trustees give of their time freely, there is deemed to be no key management personnel remuneration payable (2024: £nil).
9 RELATED PARTY DISCLOSURES
There were no related party transactions in the year.
10 LEGAL STATUS OF CHARITY
The Charity is a company limited by guarantee and has no share capital.
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