Orpheus THE ORPHEUS CENTRE TRUST TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 R•olit•r•d wlth FR FUNDRAISING REGULATOR Charity No.1105213 Companles House no. 05089501 Orpheus Annual r•port Ind IIMniMI st•tsments forthe yew •nd•d 31 August 2021 Pale Contqnts Legal and adrninlstrative Informatlon 4-12 Trustee5' Report 13-14 Statement of Trusteeg Responslbllltle5 15-18 Independent Audltorfs Report and oplnlon 19 Staternent of Flnanclil Actl¥ttles 20 8alance Sheet 21 Cash Flow Statement 22-33 Notes to the Flnlnclal Statement The Orpheus Centre Trust Orpheus Annual report and financial statements for the year ended 31 Au8U5t 2021 Legal and Admlnlstratlve Infomiatlon The Directors and Management Board of The Orpheus Centre Russell Barrow (resigned October 20201 John Beer OBE (Chairl Chris 8urlin8 Gordon Curtis lappointed April 20211 Tony Elias Virginia Fenton Richard Groom MBE Iresigned April 20211 Samuel Ma5slah lappolnted October 20211 Jane Mcsherry Iresigned November 20211 Sir Rlchard HZS Stll8oe OBE Helen Swain Matthew Truelove IresLqned Nov 20201 Howard Webber lappolnted January 20221 Neil White CEO Rachel Black Key Man38ement personnel Nish Chlkhlla Iresigned January 20211 Rlchard Clark lappolnted January 20211 lay Cross (lay Harrls from Aprll 20211 Tom Harrls lappolnted June 20201 james Hunt lappolnted June 20211 Molra Lambert Sam Owen Lynn Reddick Iresi8ned December 20201 Chloe SmSth lappolnted March 20211 Company Number 05089501 Charlty Number IIOS213 Reilslered Offlce and prlnclpal address Orpheus Centre North Park Lane Godstone Surrey RH98ND Audltors Moore Kln8Ston Smlth LLP, Chartered Accountants Betchworth House 57-65 Station Road Redhill, Surrey RHI IDL Bankers Coutts & Co, 440 Strand London. WC2 Orpheus Annu41 report and flnanclal statements for the year ended 31 August 2021 The trustees present their report and accounts for the period end￿ 31 August 2021. Incorporatlon The Trust was Incorporated on 31 March 2CK14 and Is a private company, Ilrnited by 8uarantee and not havln8 a share capital. The company commenced its actlvltles on 6 April 20D4. structure, Governance and Mana8ement Governln8 document The charity Ss governed by its Memorandum and Articles ol Assoclatlon dated 26 February 2004. The trustees are members. each of whom eiiarantpps tn r.tsntribute £1 In the event of the charity being wound up. The Memorandum and Artlcles have been revlewed and updated to reflect our purpose and references to current law. The new Memorandum and Articles were Tevlewed at the AGM In April 2021 and wlll be formally adopted al the April 2022 AGM. Related Partles The Orpheus Centre Is connected to another charity, The Alchemy Foundatlon, wlth whlch It cooperates in the pur5Ult of charitable oblectlves. The Alchemy Foundatlon provlded a grant of £Nil1£44,274 2019120201 to cover the annual salary costs of two members of the FundraSsln8 team. Appolntm•nt ol Trust*es As set out In the Articles of A$50ciatlon, the Board may at any tSme appoint addltlonal members, subject to a maxSmum of 12 mernbers. Any member 50 appolnted retalns hlslher office untll the next Annual General Meetlng and Is then ellglble for re.election. Sir Richard Stllgoe Is a permanent trustee. The method for appolntment and re*le¢tlon of trustee5 ha5 been reviewed and updated Artitles of Assoclation wlll be approved at the Aprll 2022 AGM. The method5 used to recrult new charlty trustees Include advertlsement on our webslte and social media, other advertising and use of speclallst trustee recrultment bodle5. Appllcant5 are 5hortllsted and then Intervlewed by a panel of exSstlng trustees. Trustees are advlsed of thelr respon5ibllltles under charlty law and mandatory tralning opportunitle5 are made avaSlable, both on Ilne and face to face. Individual meeting5 for all trustees wlth the Chalr of the Board take place annually where further indlvidual development opportunitie5 may be Offe￿d. Orianls•tlon The Management Board, made up of the Trustee Directors, meets every three months. Three members must be present for the meeting to be quorate. A representative of the Mark Leonard Tw5t IMLTI attends occaslonal board meetin85 in accordance with that funding agreement. Committees of the Board are: Flnance and HR (also responsible for IT), Quality and Learnin& Domiciliary care. Hou5in8 and Estates, and Fundralsing and Marketing. Committee meetings are every 3 months to ensure account3bllity and compliance in key areas. assure OUT Strateglc objectives and to support staff in every department. A Trustee also attends an operational Health and Safety meeting every three months, 111 15rpheus Annual report and Ilnancial Statements for the year ended 31 August 2021 the mlnutes of which are reported to the Board. A Development Group, with members who are supporters of Orpheus, is now chaired by Gordon Curtls (Trusteel. Its pyrposels to idehtlfy new opportunities for fundraisin8 as well as to work In partnership with the fundraising team to 5trategicallv support their core actlvltles. The commSttees of the Board of Tru5tee5 can include external experts.. thls year, Quality and Learnln& Care, FundraSsln8 and Flnance have had attendees in thls capaclty. Senior managers are also members of each commlttee. Trustees are charged with making de¢l$lons wlth regard to the charlty's business, strateg1¢ dlrectlon and maln areas of pollcy. Trustees delegate day-ttrday leader5hlp to the Chlef Executlve, who constructs bu5ine55 and Strategic plans for scrutlny, amendment and adoption by the Board. The Chlef Exe¢utlve Ss responsible for operational mana8ement. Objectlves and Actlvltles Purposes and Alms Our ¢harltV'5 purposes as Set out In the objects contabned In the memorandum of a550ciatlon are- The rellef of young dlsabled people In partlcular but not Ilrnlted to the fore8olng by the provision of care facllltie5 The advancement of educatlon for young dlsabled people through the provlslon of.. a Structured currltulum, tralnin& learning and other activities which support5 their aspiratlons and progress towards Independent Ilvln8 opportunitles to partlclpate In the performlng arts as creators, performers, technlclans, admln15trators and audlences The Alms of our charlty are.. To support young disabled adults who have interests and talents the performSn8 and vlsual arts to achieve the Preparlng for Adulthood outcomes throu8h partlcipating In incluslve performance and exhibitSon opportunities and a personallsed learnlng pro8ramme To empower our students to Ilve as Independently as p05slble and contrlbute to thelr local communltv To foster relatlonships with local, regional and natbonal communities to brlng young disabled adults into the workplace How we ensure our work dellvers our alms We review our work in relation to our alms, objective5 and activities each year through Trustee and senior management meetings and Board meetings, and with reference to the Orpheus strateglc plan 2021-2025. which wa5 launched In the spring of 2021. We measure our su¢¢ess through delivery of yearly Operational Plan5, allgned to our strategy, as well as KPIS approved by each Boaid Committee and by ratlngs from regulatory bodie5 and awarding bodies. Student satlsfartlon with our persona115ed Study programme, accommodation and aclivities assoclated wlth the arts is measured throu8h anonymous student surveys, tenant meetings and the student council forum where any Issue can be raised. The Student Council Board Representatives provlde an in-person report to thè Trustee Board Meetlngs concerning 1S5ues the student body wish to Taise with Trustees. Orpheus Annual report and financlal statements for the year ended 31 August 20ZI How our attlvities dellver public benefit The trustées have referred to and have regard forthe Charlty Commlssion's publlc benefit guidance. We have taken it into account throu8h review of our aims and oblectives and ensurlng that decisions arising from our strategbc dlrectlon sustain and Improvè our charitable actlvltles to benefit younB dlsabled adults using vlsual and performing arts. All our charltable a¢tivitle5 are focused on the UK'S vislon to bulld a society whl¢h 55 fully inclusive of dlsabled people ensurlng that they have choice and control over thelr own11ves and are able to Ilve the Ilves they choose to lead. We are actively improving equallty, dlversity and inclusion through implementatlon of our four year plan. We remain a Dlsability Contldent employer, but our progresslon to Dlsability Confident Leader status was precluded by Covld preventing us effe¢tSvely partnerlng wlth an cxternal Disabillly Confident Leader or8anl4atlnn. Th151s hÈln¥ pursued In 2021-22, We raise awareness of disability issues at a local and natlonal level through communi¢atlon with MPS and governrnent mlnlsters, council mayors and inspiratlonal outreach performances. Our students ralse awareness and funds for natlonal charitles and are encouraged to partScipate In volvntary actlvlties to help other5. They are enthusiastic and keen to overcome barrlers to their partlcipation In soclety. A5 alumnl, our students continue to make a difference to awarene55 of dlsabllbty throu8h performance and workshops for other dlsadvanta8ed young adult5 as well as ambassadorlal actlvlty forthe Centre. We support our students. who have talents In performln8 and v15ual arts. to realise thelr potentlal and make a positive contribution to thelr local communlty. We do thls through accredlted qualifications, Engllsh and math5 5kS11s, independent Ilving, travel and work skllls, wlth a focus on employment. Our supported housln8 servlce enable5 Students to transllion from the parental home to Ilvln8 in the communlty as independently as posslble when they are ready to do so. Duilng 2020-21, Covld restrlctions fluctuated, so we continued to deliver a full on-slte currlculum, but wlth students largely restrlcted to set learnln8'bubbles' and wlth severe constraints on work experlence and work placements. Our Iwe performance work was adapted to Ilve-stream Or recorded dellvery, whlch provlded new opportunlties for Snnovation, such as provldin8 a drlve-ln clnema experlence. At tlme5 when students were subject to self-isolation due to extreme vulnerablllty or contact wlth Infection, they were supported to access remote learnlng provlslon. tallored to their spe¢lflc needs and wlth regular and freqlsent check-ins from tutor to home. Contrlbutlon of Volunteer5 2020-21 has been a very successful year for Teenerglilng the interest and retentlon of volunteers. The pandemlc had a negative impact on volunteering the prevlous year a5 we were minimizin8 the number of people on slte. However, this year we have been able lo return our volunteers to slte as well as recruit more than ever before. We have Increased our volunteerin8 OPPOrtunltie5 to include remote, evenin8 and weekend roles, which has a150 meant we have become more appeallng to a more diverse cohort of volunteers, in¢ludlng both young and di5abl*d volunteers. We have Successfully recruited 6 disabled volunteers and made the adjustments needed to ensure they have a p051tive experience wlth us. We are also workin8 Wlth the Young Volunteer Development Manager at Time to Change to get more young volunteers on board. We have 108 volunteers In total who work acr05S the organi5atlon In all departments12019-20: 95 volunteers in total, 71 attlvel. They have donated a total of 7065 hour5 this year12019-20'. 3,452 hours). 11 Orpheus Annual report and financial statements forthe year ended 31 Au8USt 2021 The equivalent cost of this at Ilvlng wage is £67,117.5012019-20.. £30,101 at minimum wage). Retainin8 these wonderful people who make such a diffèrence to the Orpheus Centre has been a hl8h prlorlty thls year. Each volunteer has a dedicated line manager to support them and ensure they are made to feel valued. They each have a comprehensive Induttion into the orgBnisation and complete mandatorv training. They are also requbred to compete a OBS (Disclosure and 8arrin8 Service) check. We value each and every volunteer and we will continue to work hard to retain them and to grow a dlverse and Inclusive 8roup of volunteers. Achlevements and Performance A5 established In the 2019-20 annual report The OrpheLts ARTS Strateey was launched in the sprlng of 2021, provl¢JSn8 S year5 of focused strateglc oblethives and outcomes. ARTS represents Aspire, Renew, Transform and Service Excellence, reflecting our desire to develop hlqh guality team5 to deliver excellent services to our students and societyi whilst ensurln8 our land and bulldlngs are fully Incluslve and fSt for the future. Pro8ress agalnst our maln prlorltle5 for 2020.2021 year Is as follows.. Com Ilance wlth COVID 19 Govemment re ulations whlle our students the besi uc an re to achl veth Irf tur ectatl nd ambitions throu urrlc lum Innovatlon and s aff develo ment.. The number of fulltime EFSA students Increasèd to 4812019- 20.. 461. As in 2019-20, Orpheus ha5 remained open and lully functionln8 throughout the pandèml¢. All students were on site, albelt wlth tlmes of Isolatlon due to vulnerabl1￿Y or infection contact, durSng whlch remote learning and support were provlded. On 51te COVID testln8 was established followed by successful transition to twice weekly self.testin8, Wlth Students supported a5 requlred. We paid staff In full when they had to Isolate due to COVID and SOU8ht prlority access to vacclnatlon as early a5 posslble. Students achleved 100% successful completion of quallflcatlons. Tolm rove and Initiate chan e in the develo ment and dellve of our transition ro ramm such that our enter rise ctlvllles Wofk with cor orate volunteers nd local arts buslness rovlde meanln ful work ex erience for ever student.. Althou8h work placement5 were severely Ilmlted, casting opport(tnlties Increased significantly. In addltlon, we facilitated virtual workshops with employer5, a virtual careers weèks, as well as the development of vlrtual corporate volunteerinB opportunltles, and our 3 student leaver$12019-20..121 were able to acce55 work placement5 prlor to leavlng collè8è. A large cohort of students were 8ranted an addlt5onal year of study in 2021.22. Increaslng the amount of work placement5 and lob coaches required for the ensuln8 years. 6ud8ets and recruitment plans have been established to fulf51 thls new need. To contlnue to rovide the hi hest ualit Standard of care and edu ation that maintains and xceed5 the, ades that we hold with fsted nd C Cre ulato bodies.. A su¢tèS5ful Ofsted monltorlnB vlslt was completed virtually In December 2020. A new combined Care and learnln8 SUPPOrt role was introduced along with new managers and training, all of which Improved learning and care collaboration and thus the student experlence. New 8roup sensory diet session5 were introduced at the start of every day and wellbeing sesslons throu8hout the weekly curriculum. We had 10096 retention and our students achleved lOO% success in thebr studies, Includln8 En8llsh and maths. Earlier and grèater student and lamilv 5UPPOrt. careers and IAG services (information, advice and 8uidancel were Introduced to per50nali5e each timetable, enable ¢hoice, and 5UPPOrt transltlon planning. Extracurrlcular activities were dellvered virtually for both day and tenant students through our Act11 PfO8rammes and our weekly student celebration of success. Funky Friday, became a live stream event for all learning bubbles. staff and volunteers. All 5tudent5 participated in performance through the year, either virtually, at our live drive-in carol concert. or in the end of year fllm which was dellvered a5 a drive-in cinema experbence. 11 Orpheus Annual report and financlal statements for the year ended 31 August 2021 Further Invest and develo our COIN faCIl￿leS and resources for exlstin cohort: There were S COIN 5tudents12019-20'. 61, as one student requested to pause their programme due to COVID. The COIN group moved to a bigger learning room, and addltlonal classroom faclllties and lighting were provlded. At the end of the academle year, a new long-term learning space plus sen50ry break out room was prepared for 2021-22 onwards. The COIN tutor tompleted a Makaton train-the-tralner course, wlth wlder staff training dellvered from Au8USt 2021. Two discrete therapy spaces were set up on srte to ensure a wider provision of a range of therapeutlc optlon5 for both COIN and general students, and drama and movement therapy student placement was negotiated with the University of Roehampton. Individval and group therapies were facilitated throughout the year, both planned and in response to evolvln8 student need. To dev•lo • vlrt al oiitrearh rn rammp. m pd to exlstln rk to asslst fund and extend alumnl and student Involvement.. Outreach perfL)rmances were chan8ed to virtual collaboratlons and Ilve stream events followln8 a successful trial in Au8USt of 2020. Son8 writing workshops were held In this way wlth Surrey Cholces and wlth Woodfleld 5Lliuul. To achieve Dlsablllt Confldent L ader Status as art ol our eneral focu to advocate for oun eo le wlth SEND and develo roles for their em ment.. Due to COVID, we were unable to successfully partner wlth a Disabillty Leader OT8anisatlon whlch was requlred to complete our own Dlsabillty Leader application. Instead we focused upon renewln8 our Dlsabillty Confldent status and preparlng for Leader appllcation in 2021-22. We promoted an alumnus to a more senlor job, employed a new alumnus Snto the vacancy, and made a successful appllcation for Kick Starter fundlnB speciflcally for young dlsabled people who had been employment- d55advanta8ed by COVID. Our two receptlonlrepro8raphic and marketln8 Klck-starters were retrulted ready for a 2021-22 start. To nurture a d develo the talents and wellbeln of our staff to ass their retenti act on stu nt and volun ers.. In hrnii h startin our I develo ment ro ramme and ensurin contlnuous rofessional develo ment of all our staff.. The LSCA Ilearnlng 5UPPOrt and care a551Stantl and ISCA team leader roles largely replaced our previous care support worker and learnlng support asslstant functions and provided a hi8her, benchmarked salary. In addltion. salary upllfts In Ilne wlth bcnchmarklng was extended to more roles, IncludSng the senlor management team, and the Llvlng Wage was Implemented, effectlve April 2021. All such changes are recommended to the Board after approval by the Flnance Commlttee. We designed and Implemented è new, whole or8anlsation annual tralnln8 plan, coverln8 both mandatory and organisation specific sublects, and deslgned to Improve standards and provlslon as well as further enhance the unlty of the whole or8anlsation. Across the organlsation, role5, team structures and Ilne management were reviewed $0 that more mangers were available to support Smaller groups of staff. Our leadershlp development programme continued both virtually and in-person, largely focused on good people mana8ement. The launch of our new organisational strategy was 5UPPOrted throughout the year by frequent whole organlsation strategy updates from the CEO as well as whole organisation development of our organisational values and their a550ciated behavlours. Staff retentlon improved slgnificantlyi Wlth all-year turnover reduced by 10.85% to 18.S%12019-20'. 29.35%). Further reorganisation of the learnlng and care team wa5 developed ready for 2021-22 provldln8 additional progresslon opportunitles for staff. Review our networks of feeder schools artner5 and research.. The Impact of COVID restrictions on ways of working and workload limited our capactty for external or8anlsatlon5 avallabillty for tollaboration. Some mapping was completed and we linked wlth a universityto host a drama and movement theraplst for 2021-22. However. th15 work stream has largely transferred to 2021-22. Be in to develo our cam n for Influencin sof oun dlsabled eo le.. Work was commlssioned to understand how our organisatlon Is per￿1Ved by the public and our 11 Orpheus Annual report and financial statements lorthe year ended 31 August 2021 supporters as a tontèxt for future campaigning. The student body completed an intensive week called the D Word, exploring disabillty wlth a variety of disabled artists and campaSgners. We worked with the students throughout the year about our new strategy and thelr role In fulfilling its Outcomes. 2021-22 will see the flrst of our campai8ns. As art of our di ital strate stren then our wifi connection so that it is accessible from all slte locatlons. Purchase a rg riate MIS s stem and hardware so ihat staff can access and disseminate information readil and eve siudent can work remtstel to the same standaid.. Wifi and hardware upgrade across staff and student re50urce5 wa5 completed followin8 the successful transltlon to h05ted data storage. All students now have access to up to date laptops and I-pads whlch were made available for home use as required. A new student management Information system was implemented as well as one for fundraising. Im rov Slte ecurit ndim lement health and safet 5 ear Maintenance lan.. addltional security alarms, 8ates and lightin8 were provlded and work to refine and digitalise the 5 year maintenance plan Contlnued wSth our health and safety consultants Ellis WhSttam. To car out a site review and lan a ca eal to finalise build re uirements for the develo ment of an Arts Centre that includes f 11 acc Ible tea hin es a thea rean c I ture ark Sn line wSth o r five- ear strate lan.. Planning consultancy a￿lSed us on the relative risks of developmenl or refurbishment across the whole 5Ste. On thls basls, Interview5 for Cllent Representatives and a legal team resulted In 5ucce5sful appolntment5 of our flrst two consultancy teams for the development of the Arts Centre. An initial project and programme plan has contlnued to gulde our actlvitV* ready for the recrultment of architects in 2021-22. FUNDRA151NG We would Ilke to thank all those who took part In our events and challenges thls year to ralse funds. For every £1 spent we ralsed £1.0212019-20 £2.2SI. total fundraisln8 Sncomel total fundraisin8 expenditure. With central cost5 removed for every £1 spent we ralsed £1.1912019-20 £2.71), This is a de¢reèse of 56% on last yeai but explalned by our Inablllty to hold external events and the fact that corporate donors were themselves adversely affected by COVID 19. Non-compllance wlth fundralsing re8ulatlOn5 15 a risk mltlgated by our regSstratlon with the Fundraisln8 Regulator. our membershSp of the Instltute of Fundralsln8 and adherence to the hlghest standards of fundraisln8 practice as in the Code of Fundralsln8 Practlce. Orpheus received no complalnt5 about fundrai51ng thls year. The Orpheu5 Centre is committed to providinB a positive donor experience and we enjoy a long-term relationship with our supporters based on trust. FundraSsers workin8 on behalf of Orpheu5, who encounter either vulnerable potentlal donors or those who lack mental capaclty, arran8e approprlate addltlonal support to ensure they make an Informed declslon to donate. Our fundralsers (both staff and volunteers) are familiarised with the Fun¢Jraising Code of Conduct to ensure that It Is applied properly. Individual donors are written to occasionally to ask them to support our work, and applications are made to a number of charitable trusts, foundations and companles for grants as well as holding special events. Occaslonally thSrd partie5 are used to write large grant applications to statutory bodbes or foundatlons. This activity is monitored by the Head of FundraisinB using our Thlrd-Party Fundraisin8 policy which states the standards we expect. Orpheus Annual report and flnancial statements lorthe year ended 31 Auiust 2021 Thanks to the followlng funders The Ofpheus Centr* has been fortunate to recelve funding from several non-statutory sources over the last year. The Board would therefore like to thank the following organi5ations, Individuals, trusts and foundation5 for the generous support that they have glven.. A¥a Assistance, No Fear BTld8e, HDI Global Speclalty. Gatwlck Alrport Communlty Trust, The Perfuwnè Shop, Fairalls, Woodward Menswear, Thlnk Systems, Team Frames Trade & Retall, RR Ellte Wines, Rlckety Brld8e Wlnery, The Spot, Rlcoh. Golf Escapes, Nutfield Priory Hotel and Spa, West Sussex Golf Club, Tandrldge Golf Club, SSlent Pool, Raynèrs Estate Agents, Fèu Dlamonds, Squerryes, Hilton Hotels, EnBli5h National Opera, Intersport, Notre Dame School Cobham Colln and Naoml Hall. Brian and Erlca Flood, Stuart Nassos, Geoff and Flona Squire, The Hallett Farnity, JIM and L12 Madden, marI￿n Fry, Lury Arterton, .Inanna I Iimlpy OBE, Dame Judl Dench CH D6E FftSA, Slr TIM Rlce, Ann Lovelace MBE Alchemy Foundatlon. Arnold Clarke Communlty Fund, B105s Famlly Foundation, Borrows Trust, Commvnlty Foundatlon for Surrey, D'oyle Carte Charltable Trust, Ernmanuel Kaye Foundatlon, Freddle Green Famlly Charltable Trust, Georue Goodsir Foundatlon, GuSld of the nlneteen lubrlcators, Joseph & Lllllan Sulley Foundatlon, Klrkwood Memorlal Fund, Mark Leonard Trust, Pears Foundatlon, St James's Place Foundatlon, Vlctorla Wood Foundatlon, Co-operatlve Communlty Fund Who used and benefltted from our servlces? We contlnue to recrult students with a broad range of dlsabllltle5 from atross the UK, wlth the malorlty OTl8inatln8 from Southeast England and London. 54% of our total 5tuilent were female, 46% male, and 6% from BAME groups. These st•tlstlc5 represent blrth assl8ned sex and not necessarily gender Identities. 16 appllcants were funded to be8Sn thelr studle5 In 2020.21, taklng the total number of students to 48. A Surrey School and a Surrey Learnlng D15ablllty servlte were supported to partSclpate in our son8 wrrtln8 Outreach work, Flnanclal Revlew Investment and Reserves Pollcles Intorne and expendlture Total incoming resources for The Orpheus Centre TTu5t in 2021 were £3,255,68612020.. £3,759,376 as restated) which comprised unrestricted Income £2,736,29612020'. £2,866,571 as re5tat*dl and restrlcted income £519,39012020.. £892,805). Expenditure by the Centre Is domlnated by staff salarles and the malntenance of our facilltles and equipment. The total expenditure for 2021 is £3,097,75812020- £2,945,218) the Increase caused lar8elv by hlgher employment tosts and au8mented staff numbers to meet increased student numbers. The Centre'5 surplu5 for 2021 has decreased to £157,92812020., £814,158 as restated) rellectin8 tighter budget settin8 and control as well as reduced income through the impact of Covid restrlctions upon a range of fundraisin8 income streams. io 11 Orpheus Annual report and financ•al stateme￿$ for the year ended 31 August 2021 Investment pollry Orpheu5 seeks to produce the best financlal return wlthln an acceptable level of risk. The investment objective is to achieve capital 8rowth at least In line with inflation IRPII and a stable 8rowln8 income Stream. The r15k is spread by investin8 in a varlety of low-medium rSsk mandates which are manaBed by three companles wlth whom a further £600,000 was transferred in the year. They rèport annually to the Finance Committee. Investments ale easily accessible when requlred to mltigate unplanned expendlture wlthout affectln8 our reserves. At 31 Au8USt 2021 the Charity held Investments valued at £2,508,83812019-20.. £1,663,123). Our return on Snve5tments was £245,715, an Increase of 9% compared to last year12019-20'. £16,150) reflectin8 a considerable upturn in financial market5 a5 world economies started to recover from the Impact of COVID. Reserves and Reservés Poll¢y The Oipheus Centre relSes on a mixture of Income from a vailely of sources to fund It5 actlvltles and the conllnued Investment In our servlces and facllltles. Our attivlties and the market5 in whlch we operate have a degree of uncertalnty driven by developing Commissioner models and the constraints of publi¢ funding. The reserves policy aims to ensure that the Orpheus Centre has approprlate Ilquldlty to bulld resilience aBainst short term or sudden fluctuatlons In Income or c05t levels, unplanned urgent substantlal repalr5 and malntenance expenditure or the need to transform our services In response to developlng commlssloning strate8les. We are committed to providing services to our students (beneficiaries) and want to be confident that our reserves policy is flt for purpose, partlcularly glven thelr vulnerabllSty. Our reserves are an Inherent part of our stiateglc rlsk mana8ement process and tllJ5tee5 recoBnlse that the need for reserves wlll vary dependln8 on our financlal posltlon and our asse55ment of the rSsks faced at any time. Balanclng the short term need for spendlng on our core pro8rammes wlth the need to maintaln 5tablllty in the lon8ei term Is always consldered. Th55 year the Board continued to adopt the resetves policy to identSfy and deslgnatè reserve5 to lon8 term building funds leavln8 six months of operating costs as general re5erves12021.' £1,548,879,. 2020.. £1,380,037 as restated) notln8 the marBinal Increose In operational costs this year. The policy wlll be reviewed and monitored along with the flnance5 and Should there be any future requlrement to release more reserves, therelg more than 5ufflcient capaclty to do so. Cash plus investments at 31st Au8U5t 2021 was £3,514,208131 August 2020 was £2,911,889). Restrlcted reserves at 31st August 2021 were £548,18612020., £692.2741. The balance at the same date on the expendable endowment fund was £2,179,10112020.' £2,263.4321 with depreciation of £84,331 12020.. £84,331) beln8 ¢har8ed against the fund. unrestricted funds at 31st August 2021 were £4,848,50912020.' £4,216,447 as restated) of whlch £3,299,630 represents designateil fund$12020'. £2.836.4101. The remaining unrestricted reserves of EI,548,87912020-. £1,380,037 as restated) repre5entin8 6 months of operating expenditure. The minimum reserves policy agreed by the trustees is to have at least 6 months, worth of operating expenditure. li 111 Orpheus Annual report and financlal statements forthe year ended 31 August 2021 Risk mana8ement During 202￿21 the Board and executive team revlewed the content and format of the risk register to moTe accurately reflert current circumstsnceg and enable clearly historical analysls and ongolng review. To ensure that both strategic objectlves and operational actlvlty remaln effectlve. compliant and relevant, the rlsk registpr has a 8pr.tinn for each of the Board ¢ommSttee funttion5 ILearninR, Care, Estates Flnance & HR, and Fundraislngl as well a5 Health and Safety, plus Strateglc risks assigned to the whole Board. Both the executlve team and Trustees partl¢lpate In the quarterly reviews of rlsk. The Ilkellhood and impact scores of each rlsk and thelr mltlgatlon are considered and updated as required at each Board l Board Commlttee meetlng, wlth an annual revlew of all r15k5 by the Board, Durlng 2020-21, Covld wa5 managed in accordance with government guldance, wlth early vaccination opportunltles pursued for all staff and Students. Case rates on 51te remained very low, sllghtly Sncreasing as all re5trictlons lifted towards the end of the academlc year. At no tSme durin8 2020-21 dld we have a Covld outbreak on slte and no person was h05Pltallsed due to Covld. S3feguarding h05 been strengthened across the organlgatlon, wlth a further enhanced membershlp of the Designated S8feguardln8 Team effectlve from the start ol the 2021-22 academic year. MembershSp now includes CEO, COO, Princlpal and both Assistant Princlpals, Head of Care and the Quallty and Tralnlng Officer. We contlnue to report 53fe8uardinB matters to local authorlty teams as required and include notlfications to CQC. Charity Commlsslon and key funders where necessary. Future plans Our plans lor 2021-22 are Set out below as they are wrltten In our buslne55 plan and strategy. ASPIRE- Contlnue to Improve our employment, health and wellbelng practices for our workforce RENEW- Progress our plan5 for development of the Orpheu5 slte to dellver future focused premlses for learnln8 and working TRANSFORM- Recrult, achleve external quality mark5, network externally and develop our communication so that we artively influence external groups and transform soclety. We want our activitles wlth and for youn8 digabled people to ensu￿ a better Ilfe experience forthem.. better housin better employment, and better soclal live5. SERVICE EXCELLENCE- Through developlng our Internal audit process, maintaining and improving our exlsting faclllties, and achlevin8 external quality marks, we will work together to promote outstanding standards in all that we do. 12 15rpheus Annual report and flnandal st*tements for the year ended 31 Au8USt 2021 Statement of Trustee Responslbllltles The trustee5 Iwho are also dlrectors of The Orpheu5 Centre Trust for the purposes of company lawl are responsible for preparlng the Trustees, Report and the financlal statements In ac¢ordan¢e wlth applicable law and Unlted Kingdom Accounting Standard5 Iunlted Klngdom Generally Accepted Accountbng Practice, including Ffts 102 The Flnarbcial Reporting Standard applicable in the UK and Republic of Irelandl. Company law requlres trustees to prepare flnanclal stètements for each financial year, which give a trne and fair view of the state of affair5 of the charitable company and of the incominB resources and applicatlon of resource5, includlng the Sncome and expendSture, of the charltable company for that period. In preparing these fSnan¢lal statements the trustees are requlred to: select suitable accountlng pollcies and then apply them consistently; observe the methods and prlnclples In the Charltles SORP,. make lud8ements and estlmates that are reasonable and prudent,, state whether appllcable UK Accounting Standards have been followed, subSecl to any material departures dlsclosed and explained In the flnanclal Statements; and prepare the flnanclal statements on the goin8 concern basis unless It is inappropriate to presume that the charlty wlll continue In bu5Ines5. The trustees are responsSble for keeplng accountln8 records. whSch dlsclose wSth reasonable accuracy at any tlme the flnancial p051tion of the charltable company and to enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taklng reasonable steps for the prevention and detectlon of fraud and ￿her IrregularStles. In so far as the trustees are aware.. therels no relevant audit Informatlon of whlch the ¢harltsble company'5 auditor is unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the audltor is aware of that information. The trustees are responsible for the mainienance and integrity of the corporate and flnancial Inforniation included on the Charitable company's website. Le8islation in the United Kin8dom 8overnin8 the preparation and dissemination of flnancial statements may differ from legislation in other jurisdictions. 13 11 Orpheus Annual rewt and flnanclal statements for the year ended 31 August 2021 Audltors statement Moore KSnBston Smith LLP have Indlcated thelr wllllngness to contlnue in office and, In accordance wrth the provisions of the Companies Act, it is proposed that they be reappolnted auditors for the ensvlng year. The Trustees, Annual Report Is approved by the Trustees of the charlty on 19 Aprll 2022. The Strategic Report, which forms part of the Annual Report, is approved by the Trustees in thelr capaclty as Dlrectors of the charity under company law and Is SiBned on Its behalf bv.. John Beer, Chalr of the Board of Trustees 14 ## **The Orpheus Centre Trust Independent Auditor’s Report to the members of The Orpheus Centre Trust** ## **Opinion** We have audited the financial statements of The Orpheus Centre Trust (‘the charitable company’) for the year ended 31 August 2021 which comprise the Statement of Financial Activities including the Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 August 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 15 Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ annual report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees’ remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees’ annual report and from preparing a strategic report. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s Responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, 16 they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. 17 Our approach was as follows: - We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. - We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. - We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. - We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. - Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 22 April 2022 ## **David Montgomery (Senior Statutory Auditor)** for and on behalf of Moore Kingston Smith LLP, Statutory Auditor Betchworth House 57-65 Station Road Redhill, Surrey RH1 1DL 18 Thoiph•w(qnErnTruit 0fFIMndil•AlS￿kn1fVrth•YM￿￿l•d 3IA¥au112021 PasirfA•d IhthJ¥Jrn•Nt Y•ir•rAW JI Auiu#2Q201 Fund Fund U#2021 335 141,Xt 476.571 Chirhabkn Klivtt 133L9 3?7￿81 1,709,941 1835,390 fj9.134 69.134 SI057 14D 140 1,246 Jx•J•o 464,862 461,862 361,923 ¢hirttibl• 1,974.411 65&478 Totstownthlwr• 14x1 •7.751 949211 1139,0 157,9 114,151 145 715 Nrtln(orn1 Y2,731 403,648 89331 15.Lb>Jl 184,3311 i32.￿1 1443311 lo3.￿5 130, Funds browmlorward 4216,447 691274 l261432 7.172,153 7ts75,YY6 7J?1159 r•wwe mayln5¢x105s•Ad￿r1Wthè¥l•rDIherfh3n￿tssI Wud•d Int￿$111￿￿TrIo1￿n￿Cr4¥￿bQ$. The Iknheus Centre Trurt Balance Sheet at 31 Auiust 2021 2021 zozo l•$ restatedl No*eJ Flxed usets Tanglble flxed assets Investments 4.106,556 2.508,838 4.167,788 1.663,123 Totsl Ilxed •ssets 615394 S,830,911 Current Debtors Cash at bank and In hand 157,539 L005.370 211,961 1.248.767 Totsl curr•ftt ￿lets L162,W9 IA60,718 Ll•bllltles Credltors: amounts falllng due wlthln one year li 202.507 119,486 I,3￿,242 cutr•rt•Jxts 960A02 Totsl •ssets IMS current Il•blllti 7.575,796 7.171153 Tgtsl n•t •M•ts 7.575,796 7,171153 Repr￿￿￿ed by: Endowment funds Restrkted fund5 Unrestrkted funds 2,179,101 S48,186 4,848,509 2,263,432 692,274 4,216,447 J3 13 7J75.796 7.171153 Companles House no.. 050B950 Approved by the Board on 1111* . and 51gned on its behalf bv John Beer, Chalmian 20 The 0￿he￿I Centre Tnot stst•m•nt vfCa5h Flows for the ended 31 August 2021 Ye•r ended 31 Auius12021 Ye•r ended 31 August 2020 1•5 re5tit•dl N•1 c•th pffovlded by oper•dni •rtl¥lll•s C•ih from In¥estI￿ att￿ltI•l Purchase of tanglble thed as5el$ Pur¢ha5e of Investments 015posal proceeds 549,608 1,058.894 1196,2371 1600,0001 3,232 171,1461 I550,￿)) Chan1• In ush ind £Mh •qulv•lents Cash and cash •qul¥•lents ￿ the boilnnlni ol the r•portlh¥ perlod 1243,3971 437.748 1.248,767 811,019 C•sh and CAih •qul¥al•nts •t the end ol ih• r•portln8 perlod 1,005,370 1,248,767 . R•¢on¢lll•tlDn olnrf In￿￿¢ to fi•t ¢•sh Inflow frorn operatlni actMts•i Net In¢ome before 8alns on Inve5trnents 157,928 Adjustments for.. Depreclallon and wrlte-off of fixed assets Loss on dlspo5al of flxed assets De¢￿ase/ Ilncreasel In debtors (Decrease) I In£￿aSe In credltors 814,158 252,119 2,118 54,422 83,021 277.279 155,9951 23,452 Nrt Ash provldod by ¢w•rntlry •c114111 549,608 L058,894 21 The 0￿￿e￿I CentreTrn Notes to th• Flmndal Statern•ntsforthe year to 31 Au8ust 20ZA IACCOUNTIIIG pouaES alsb of •ccourtlby The Orpheus CentreTfiJStlsa ch3rltablecomp•ny Ilmlted ￿ 8uarantee domSclled and I￿￿r￿)rated In Wales. The retystered offlce Is Orpheus Centre, North Park Lane. Godstone, ￿rr•¥. RH9 8ND. Every membcw of the chJrltable cornp•nyund•rtak8% to contribut• toihÈ asseis of the charitable tnmwny Inthp event of It be1n8w￿fid up but not eKcetdln8 £1. flmncial staiemtntsore prepared Insterllnfv whkh Is thq fvnctlonèl currerKy of the charlty. Mofwry aftwwnts In theseflDpn¢lal Staternet￿ are rouTh*dto the near•stpo¥nd. The chBrlty meets the definitlon of a publlc tenefltentity under FIIS lol. The Ilnancial Jtatements h4ve been prepared In •ccord•fice wrth the accountlni pollc1¢5 set out Sn notes to the flnanclal statements and complywSth the chaflty's 8overnln8 document, the Companles Art 2006, the Charltle5 Act 2011 and In accordance ￿th the Statement ol Re£ommended Pra£tlEE opplkable to charltles preparlng thelr accounts In accodrallce wlth the Flnanclal Reportlni Standard applIcab￿ In the UK and Republlc of Irel•nd (The FRS 102 Chaf11*5 SORPI. Golry (orK•m ThE trust¢e5 have isses*d whetherthe use of the goln8con¢Ern basls Is •pproprf4te and has* conslderéd poJJlble events or condltlon51h•t mlght cast 618nlllunt doubt on thw ablllty of the charttatrAecompany tn rmtlniip a> o 8olnB concem.Th¢ trustees have mbde thls a55e55rnent for a Ferlod ol at le35t one year Irorn the date of approv•1 olthe flnincl•l st•tements. In partlcular the irustees have ¢onsldered rhe Charltable companVI forecasts and prolecthin5. After m•klni enqulrle5 the trustees h￿e concluded th•t therels I feownable •xpectatlon thitthe charltable company has adequgte resourtes tocontlnue In operatlonal exlsterKe lor the foreseeable future. rtsour¢esto contlnut operatlonjl exljtence forthe foreseE•ble luture. The charltable ornpanytherèfore conttnue5 to •dopt the ioln6 corKern b•sls In Pfeparlnl Its flnincljl st4temenrJ. Incom• All ￿nCOMe li reco8nlsed wheré thtre kn •n entr(￿rnent to tmfvnds, the recelptls probabl• and the •mount be m••iured reliab￿. Oeferred Incorne representsarnouTrts re¢el¥ed lor lutuie perkjds 8nd1s r•￿Ised to In¢om• foi the Feriodlor whlch It h•$ bqen rec¢l¥ed. Governrnent arantscompilw amount4 rece￿9d durln¥ theye•r ad￿lI•d for Income whkh rel•t•i to future perbd5. Expondltu Expenditure Is Included on an aetrnal basls. Costj tsf y￿ratIng funds are those Incurr•d In ittractin8¥olunt•ry Incorne. Expendlture on tharitsble Ictiwtles tomprlsesthose cogts Incwrmd on th8 It¥rnlni prograrnme, the pro¥l$lon of domltlll•rycare and SUPPDrte¢J houslng. It Includes bothcosti tht cin be•lbc4ted dlrecttyto th0￿ ictfvltlv5 Ind these costs of an Indlrect natureto SUPPOrt them, Governance costs Ire aswrlated wlth the 8overn•n¢e 8rriniements of the char￿¥ and Include the cost of e￿er￿alaUdbt IEes. These have been Inclvded In suppurt costs. Centr•l Jtrvlces Staff costs. adffllnlstrnfve expenses ind Dverhe•ds awe illoutedtoth• coms of rilsln8fundyand charltablo actlvltles onthe basl$of tlme Spent by on theSe3ct￿lt￿oS. Fund •C¢ount￿ Llnre5tr1cted funds arE donotlons Ind othEr Income recelvableor 1onÈrated forthe objects ol the charfty wlthout furt￿r speclw puiw$e and are avallable as ienerol funds. De5*nited lunds are UnTeJtrlcted fund5 whl¢h hove Leen de51gnated for5pedlk purpDses by the truste•s. Ilestridtdfvtsds are to be used lor 5pe¢lfi¢ purposes a5 laid (bwn bythe donor. ExpenditLWe whlch Tr￿ets these rlterh Is thorg4d to lund, iogetherwfth a fblr*llocatknn of rnanayment and supportC05ts. 22 T￿orPheU$ Cejhtre Trn Notes tothe Fbn*ntFaiststsment&forthe yMr to 31 Auysi 2021 I.ACCOUNTIN6 POLICIES ICONTINUEDI Ta￿ltsI•ll￿•d I￿•￿ Tangible fijted assets are stated at Cost le55 depreclatlon. Depreclatlon Is provlded on a stral8ht line basis Ot rates calculated to writeoff the c05t le55 estimated resldual value of each asset ovér its experted Ilfe. The depreciatlon rates are as follows.. Freehold bulldln8S Buildin¥ improverr*nts MusKal Instruments Furnlture and equlpment Computer 8qulpment and rnuslc t￿hn0￿ Motorvehlcles 50 years Ioyears S years 5 years 3 years 4years Land Is not depreclated. Th• thr•shold for capltallslna tan6lble Ilxed assets IJ £250. Opernt1￿ l••ies Rentals appllcable to operatln6 leases are charBed agalnst expendI￿reOVer th• perlod In whl¢h the¢ost 15 Incurred. P•niloM The Charlty operates a dellned ¢ontrlbutSon penslon scheme. Contributk￿5 payable for theyear are ch8r8ed In the Statement ol Flnanc581 Ac￿vItieS. Fln•nd•l IMtrum•Ats . Cuh ind c•5h equlvalents C•5h Jnd Cash eoulvalents Includ* tash at b•nks and In hand ind short term doposlts wlth a matur6ty date ol three months or le55. b, Debtor5 and credltors Debtors and credi¢ors recelvable or payablèwlthln one yejr of the rep)rtln8 dot4 are￿￿1•￿ atthelr Iransartlon prlo. c. Foxed Asset Investrnents Investments are a lomi of baslc financlal Instrument and are In￿tIalty recogn15ed gtthelr transattlon value and subsequently measured at thelr f?Ir value as It the balance sheet date uslng the closln8 quoted market Pflce. The statement of financlal actmtles Indudes the net galnj and losses arlsiw on rev)luatlgn Bnd dlsp0501s thTOU8hout the year. Crldc•l account5￿ eitlm•tes •nd •reM Of1￿1nt In thevlew of the trustee5 appIWng the account5ng poll¢les adopted, no lud8ernent$ woie requlred tha¢ hav? a slgnificant effect on the arnounts recogn15ed In the Ilnancial staterneThts nor do any e5rlmates or 155umptions madecarry si8nlfic3nt rosk ol mat•rl•l adjustment In the ne¥t flDanclal year. 23 ThelknheusCqntr•Tru•i p￿05 tothe Nnir*lilSt4l•m•nl¥ fvrthe ye•rended 11A￿￿¥¢2012 2 INCOME FROM DONAnoN5ANO GRAPlf5 Ye•rended 31 Auyjii 20Zi Unrejtrkled FUT R•5tr1rt•d Funds Fun 2021 2021 Dorwtlon5 Grants 335,062 141.360 150 476A22 150 Totsldonlllo 145m2 141.510 476J71 y1•r•nd￿ JI Au￿st 1010 Unmtt*l Fundi R•stdrt•d End￿￿ent Puhdi Tot*1 Fun 2020 20 io 343,233 462,392 49JJ58 805,625 49,058 Gr•fits 343,131 511h50 24 Th• ￿h￿¥S Trurt 14otsstoth• FITrvK￿1Stst•￿•llts y•irqnd•d31 2011 leOME FROM (*ARITABLEAcfMTIES Yw1nd•d￿A¥Ws1 zoii U*rutrkted Endo*yn• rat•1 Funds Learnlwtees Box Grintsand do￿￿0 1,232,375 377.881 1.610,256 206 J77J L61W mlEIIIwyw•: Dumklll•rycar¢lw5 qa4J S•rt*l houdr4: R•nt Grnnt 214,381 214.381 iv60 $77,1 1709041 Y￿1￿0•0 JIW1020 Lknr•wlr¢•d Fwdi Ruivkt•d fndllwm￿t F￿d5 Tot•1 Fundi •t•dl 2020 •rnlrydfeei Box ofFlie Gi•nts •nd dor410 1.383,703 6,40Z 3￿355 1,765.058 6,102 IW55 &Y71J60 OomklL•ryuw• le 833,781 lJJ.7 831.781 5upport•d IHW*: A•nl Grants 231149 230,149 I￿.149 IJO.A49 2m5.A) 25 The Olph￿C•n￿•TrYJt Noiwto the FIMnd•l S1*•n￿nts1OrthO¥qIr1￿O￿ 31 OTHEII TRADING AcnvmES Ye4r end•d 31Iy8yit1021 UnMStr1rt￿ R•rtAtt•d Endowm•nt T￿•1 FUTh •nds Fundi Hlreof facllkles leJ Of￿￿5 andxeThl Other ￿¢0m? 6,993 10,376 11,765 46,993 10,376 IL765 Y••r•rthdJl Auiuit Z02a UnrtgtylGt•d R•llthd Erav4nMnt TOMI Pundi Fundi n& 2010 Hlr•of l•ciif(*s SHl*sof ￿adI and ieThl¢es Other Inwrn 44992 18,152 2,914 46.992 1914 57 0&057 26 Tho Orph•us C•nii•TNIt 14c*es toth• Hn•ndil 5tat•rn•ntyfor they••r •nd•d 91 AU￿￿t2011 EXPENDITURE Y••e•nded 31 AuiuAt 2021 Aifac4ttoTh 1021 Trtil dlrert Costof rilslng fundi C05¢ of charltable JYEES Numb•rof•mpW fhèa¥era8e monthly number olfull tlme equlv•lent•mploy¢•s dufln8 ihe pedod w•$ 7612020- 751. Y•ar•nd•d JI it 2021 Efflpl•yffl•rtcoits S*l•r5es and wa8e5 Soclal securlty costs Penskjn Costs 2,CQ4,606 16&612 37,286 1.919.576 151666 34,306 Tot•1 •mpknNntt05t• 1210.SIM IiOS.541 OM empkjyee recelved emoluments for the perbd In ex￿$ of E60,oLKI Iyearended 31 August 2020-three o¥•f £60,000) and one employee recelved emoluments lor the ptrlod In exEe5s of E80.000 Iyear ended 31 AuKurt 2020- one over £70,000>. The centre made E2,637 Iyear ended 31 Auiust 2020: £5,205) Sn pensknn ￿nI1}bul￿n5, The key mana8emtrt pergonnel of Ihe Include the trustees. The Trustee5 recefved no remunerntlon DI beAeflts In klnd from the Charfty. TDt81 reimbursed exwnses forthe trustees wère £NII Iyear ended 31 August 2020-£6121. 27 The Orph•Js Cgrtr• Tmt Notes th lh• NMncI•lStateffl•ntiforth•y•ar*nd￿ 31A4usl 2021 NETINCOMlNGI(OUTG￿6}RE5oVRcES Y•arend¢d JA AUBU 2021 YQBT ended ai Au6u5t Net Incornlni resourctt tefore tr•rwfers are stated afttrcharOn4'. Depreclatlon Bank Interest Invegtment rnanayment fe hJJdltors' remuneratlon Audltor5' non4udlt remuneTatlon Z52,119 107 9,108 12,lJCIJ 14,40Q 277,279 1.246 7,818 12,OC 3.775 O TINGWLE FIXED I55Ers Fr¥•hukl l•nd & bulldlry P4lu•5Lal lrttium•n Furnlt4w*• equlprn•rrt Mrtar v•hld Tot•1 Coit At 31August 2020 A￿d￿lOn$ 5,482,562 6,068 51,244 1,743 826,160 188.426 72,171 157,113 6.517,07Y 196.137 134,7411 1615701 At 31 ￿J￿$t 2021 54987 942 15 94A43 1570.SYS At 31 August 2020 Chawe for the year Dlspos•ls 1,586.508 134.953 30.U9 6,053 606,761 LOL,633 68,291 l25,573 9,480 61,lQ) 2,349,291 252,119 129,391 At 31 Auwjt 2021 I,nL461 .103 1411019 At 31 Ats8ust 2021 3.767.169 302.312 20Jg) 4,104556 At 31 Auwjit 2020 219,399 4167.7BB g INVESIMEPIWS 2020 Miwketvaluq a$ at 31 August 2020 Add.. addltlon5 to InVeSt￿nIS at C05t Add.. net ylnlloss on revilu•tion 1,663.123 600,OLV) 245,715 Mar*eivalueas at 31 August 2021 2J08IJB 2021 SpHt• Flxed asset In¥e5trnents Curfentasset Inve5tment$ 2,508,838 1.663,123 Compr1J￿ ot.. I15ted equRks Cash held wlthln the Irbve5tment portfollo 1422,639 86.IY9 L663,123 663.123 28 The Orpheus Centre Trust Not•s tothe Flnpndal Statom•nts fortheyear ended 31 Auiust W21 10 DFBTORS 31 Au8Urt 2021 115 r•stotedl Student Income Other debtofs, prepaymlnts ind accrued Income 29,803 127.736 19,479 ZM2 157,539 21L961 11 CRiIXTO•S: AMIXINTSFA(IWIG DUI IvmiiN ONE YEAA JJAuiwf 2021 31 Au&￿t othert1￿j and ￿(1￿1 se¢vdty Wapj Other credltors ifid Jc¢iu•is 57,498 8,342 136,667 40,309 7,198 7L978 119M06 12 ANANCIAL IMSTIIUMENTS JI A41U# 20 FInanc￿l assets mo•$uied atfalrvalu¢ through the 50FA FlnarKl•l •M•ii m•aiured It ¥mortl*d cost-d•btors kn prepayn*nts 2.508,838 111,170 1,663,123 iao,ts6 1041.269 C•tr*thi ￿l0￿￿t￿l lkn•nd•l lthblltl Flninclal IlabllltlÉs mi•sured •tamothsed coit 79,175 29 Th•TrPh•￿c￿ty•TN1t NDlato the RnMcWSt&temÈiitsf0rtPA￿lr￿déd 3IAl¥UIt 2DZI 13 MOVTMENT IN FLINDS JJ*LwrtZOZI Atl S•pt•Trth•r 2020 AtAuDMtJi rejoumi 8ulhlln85 qqulpnrnt 2.263.432 184J311 1179.101 ft•rtrfct•d lundi Gorton Fund Outreach Pro8wimmo Le•rnln4 Prrfrlmr AlchEmy Fwndatknn COIN Tran￿lIonS Fu￿1 Mlnlbus Fund Mu8a Gamqs equ7p￿nI oUt￿￿r ly Musk I¢siMs ITproie¢t Ofvt ¥lMY¢5 5,4U6 163.629 15971 117,407) 1377,8811 13581 125,4121 1156,30Di 141222 377.881 55,C¥Jl 251979 2.527 65,971 116 8L816 14.145 IIB,n7 41733 1.312 1.527 4,056 116 123,7311 81816 5,WO ISJXVI 56.234 156,2341 TotAI Mitrtctqdfunrfl 691274 519,390 1658A781 15ml 541116 L1nN#rki•dl￿di Ge￿r•I lunds Desl8nJr4d ltrnds Loniterm Fund Mu51c IE550ns e*buiidlrwsuppc¢ted fund Minor Hou5p Fund Al￿t Fund 1,3eoA37 2,981011 IIN39,2801 13nM891 L541879 434,772 I,3￿,606 46,220 301,793 47,677 1,583,334 46,220 509,33Z 63,569 IJ31N55 115.0921 5L879 Tot•1 421&447 2.981011 Il439,2WI 89,331 4,841505 Total fvTrds 7,172,153 3JO&401 I3￿9?,7581 7,575,796 E¥pthid•bl• Endowrn•rtFytyd The EMp•Thdable Endowffjenl Fund iepreseni$ dona¥MsrprEwEd ipeclfi¢BIty lorbulldlni ind egulppln8th• orpIwu5 Contre. In ￿2fy21 deprecl•tlcnon bulK11ty5 èrnounww to £84,331w•schar8qd to th• fund12019-3Q.. £84.3311. R•strkwdfuRdi Gortonfvnd The Gorton Fwnd r¢pre$4rf5 • don3￿¢fi In the rnemoryola form•ripprenii¢e w be used Iw4￿¥5¢￿jen1 w1$N￿ to undertake •n •d¥etttrJrou5acthlty. Outrerych Progrommt Thispro8r•mme eNlststozhe ¥ounRdlsabled odutts th• oppryvjrfryto 5UPWrt and me￿Other￿l￿dyaTr>1•d4r d15Bffeft8d 8rwpsacrw5 th• VK. Leorning pmgrgmme Th9194rnkn8 wowamme fthd con$15t$ ofbwsllvies ar￿ Irnntstofund k•m1ryic¢thtiesdurf￿ the year. 30 Theolphus C•htr•Trn Not•sto th• FIn•th¢￿1 St•l¢m4ntsforlh•V￿T •nded 31 A￿￿￿t2011 ia MOVEMEf4TS IN FUhD5 ICONTINUEDI AlchemyFoundqNon The Alch•rny Foundatlon 8rart15 toWa￿S sal•ry costs lfi the FuThlrnlskns Department co A plloi Communiution knlal IMeractK)n Hub lor students vtho ha%* communlr4tion •r¥J sod41 IntorKtlon dlflkultles pw55lon for the creathe •nd performlns •rt& Tmnsltlons Th15 project support50ur students to-m￿ on. fiorn the collerfe ènd Ilve Indepondently orKe they leive u5 th an establ&hed iupport structure And a¢tlvltl•4 and rnaklnga posMI%* COfitr+butlon to thElr cornmunlty. Fvnd The Mlnlbu5 Fund upto buy • mlnlbusfor studenttransport. Muqv Thls fund15 forth ¢reatlon of i Muhl Use G4m¢sA•e• IMUGAI lor rtudents •nd staff ai the Orpheus Centre. Gamesequlpment Thls fund wli trn•t•d to 5uprpJrt the putthJ5e of iamos equlprnent fof by ourstudents. ITpmJert Thls fvnd wusset upJOllo￿nll lott•ry fvndlno 5ecur•d to Improvtthtchwldts ITsyst•ms ondtv purthose t7ew equlpment Oth•rtKtlvlfles These relète to mlK•ll•n•ousamountsir•oted tow•rdsfundln8 wrhyJsJm•ller Ktlvltej. Unr•Mrkt•d lunth 6•n•mlfvn General fund5 fepr•sent those fvndi that •1• unr•s¢rlEt•d. The Ftsed A%set Fund, tlew Bulldlni Supported Houslni Fund and the Manor House Fund h•¥e been Ir¢m Re5trkted Funds Into the Desl8n•ieil Funds. The re•50n forthe transfer Is thatthe ￿set1 hwe been consrrutted and there Ire no ortlolng restrictlons In pl¥cE and they •re avall•ble to use by the Centre to fulfil1ts6ener•l. ch•rft*blo •Ctlvltle5. In 20194 E50,1N]O lewy Irom the ell•tE of Joyce Hoyes w45 plaE8d Intoi furKI formusk lessons In reco£n￿lan of the dortorfs prolessb)n 0$ a muslc ieacher. In 2020 1 new dES*n•ted lund ILongTerm eulldln61 w•¥ •stsbllshod to 1yjd8etfor￿P1tll •xp•ndlture on • knn¢ t•rm b￿S13-S year51. 31 The0￿$ Centr•Trurt Nrt•Stothi FIR•￿￿￿ Strt¢m•ntslorth• Ye4rqThd￿ 31A4ust 1021 ANALYS150FNÉT A￿ET$ DETWEEN FLIMDS Ye•r •Trd•d JI 2021 UnrrtflcEÈd Fundi Renrtctod Endowrnem Furn Fun Toi•l Fyn xed assets CUr￿￿t•s1et5 Current Ikbllltlo5 4,436,293 614,723 12015071 2.179,101 6,615,394 1,162,909 1202,5071 548,186 4.e48J09 514106 7.574796 Yaar•nd•d 11 2020 UnMrtrlEtsd R•wkMd Fndvwrmrt Fynth T•tsl Fundi Funth {•1 185 r￿¢￿E•d) Fl¥•d aisets 3,567,479 768,454 119 486 2,263.432 5,850.911 IMS0,728 119,486 CUr￿￿t assets 692,274 Current llibl1t￿ 216 7 69l274 7.172.153 15 OPERATrIIG LIASE (1￿mIlM£11Ts Th• chjrlty's future mlnlmum opefitlni leaje pwyrnerfi are as lollows- 3iA¥ 2021 11A¥￿1 Iprnnt Wllhln oney•Jr 8etwe¢n two •nd fv• ye•rs L049 I,Q49 RELATED p￿TRANSAcT￿)￿S Included In In¢on* ￿ ÉNII Iyurendod 31Au8U5t2020- £44,274lfrom the ￿ch¢mY Founda￿01￿ to ¢o¥erthe costof 5o1•r* In the Fundrilslfvgtearn. Two tsl the trusEees ofThe Orpmus C•ntr• Tnjsl •f• •lio trustees glThe Alchemy Foundatlon. 17 At the yeaf end. Ihe charfty had entered knto contractual comm￿mentsfor caplt•l expend￿ure totallln8 £230.141. Other debtorj Include5 £33,587 In respett ol depJ$lts p•ld a8•lnstthese tommmments. 32 The￿￿•￿scentr*T￿j0f Notw toth•AnandAlSW•m•ntslw¢h•￿ •nd•d31 2021 PRIOR YEARADJUSTMENT The th•rlty Avlowed its r•wnuo reco8nltbn wlryacross 5tsvarfous Income Streams and deddid t￿t an elementof Its learnlrw fees should rnt haw I￿n •ccN•d fvf In the prfor year lI￿n￿oI si•tsments, leadln8 to a pdor •dlu5tment In the current flnarKlol 5tatefflents. The prfor ytsrodlustment hji ￿$t￿ed thecomp•fMtr4e ft8ures wlthln t￿sOFI Balance ShÈt¢ ststernentof Cash Flows and Note$ 3, 10, 12, 13 and 14. Atgl Autyit 20x1 Al pr•¥lguily AdJurtm•nt A¥ rnrt#•d Mportad N•t M￿ment In lunds 7g4693 31.615 830.308 th•ni•i toth sh••t At IOXI As Pr*￿oU* AdTrAtNrt M r•#•t•d r•pDrt•d D•btorn Other d•btors* prepayrnents ind accNed I￿ornI 310,375 1117.8931 192.482 Urrntrfct•d Fundi Gener•1 fundj 1.497.930 1117,8931 1,380,037 33