2022-12-31-accounts - Magnificat

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Trustees’ Annual Report for the period

From 1 Jan 2022 Period start date To 31 Dec 2022 Period end date Charity name: Magnificat

Charity registration number: 1147219

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The promotion of the performing arts principally choral music, in particular but not exclusively choral music in the last six centuries, culture, heritage and science (of music) for all age groups and throughout the UK.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Public concerts, musical workshops, and audio recordings.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have been mindful of the guidance on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference N/A Para 1.38 Policy on grant making N/A Para 1.38 Policy on social investment including program related investment N/A Para 1.38 Contribution made by volunteers N/A Other

Achievements and Performance

SORP reference Through its musical performances, its coaching in music history, social context, and performance practice, its presence on public radio, and in making available recordings and printed Summary of the main Para 1.20 commentary, Magnificat has continued to bring achievements of the charity, music, culture, and the science of music to many identifying the difference the communities. charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	N/A
Performance of fundraising activities against objectives set	Para 1.41	N/A
Investment performance against objectives	Para 1.41	N/A
Other		N/A

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	As of 31 December 2022, our liquid assets totalled GBP 7896.28, against zero liabilities.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Magnificat maintains sufficient assets to cover its operating expenses, but does not set aside a specific amount as a reserve
Amount of reserves held	Para 1.22	None
Reasons for holding zero reserves	Para 1.22	Our costs are episodic and are funded on a per- project basis. We do not undertake a project without first raising adequate funds to cover its costs. We do not run any general overhead (e.g., real estate, capex, labour). As such, reserves are not necessary to mitigate fluctuations in income.
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	N/A

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	Private donations and fees for concert performances.
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	N/A
Other		N/A

Structure, Governance and Management

Description of charity’s trusts:		None
Type of governing document (trust deed, royal charter)	Para 1.25	Trust deed
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	By recommendation of professional musicians, discussion with fellow trustees, and then invitation. New trustees must be appointed by a majority of the existing trustees.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	N/A
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	N/A
Relationship with any related parties	Para 1.51	N/A
Other		N/A

Reference and Administrative details

Charity name	Magnificat
Other name the charity uses	none
Registered charity number	1147219
Charity’s principal address	36 Florence Park Road, Oxford OX4 3PJ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Office (if any)
Sarah Dunkley	Secretary
PhilipCave	Executive Director


















Corporate trustees–names of the directors at the date the report was approved Director name N/A Name of trustees holding title to property belonging to the charity Trustee name Dates acted if not for whole year N/A
Director name
N/A






Trustee name		Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity

Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and	addresses of advisers (Optional information)	addresses of advisers (Optional information)
Type of adviser	Name Address
N/A

Name of chief executive or names of senior staff members (Optional information)

N/A

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Philip George Cave

Position (eg Secretary, Executive Director Chair, etc)

Date

26 October 2023

Magnificat 1147219 Receipts and payments accounts CC16a For the period 1-Jan-22 31-Dec-22 To from

Section A Receipts and payments

Section A Receipts and payments
A1 Receipts 33,154 - - - - - - - 33,154 - - Sub total - Total receipts 33,154 A3 Payments 25,517 - - - - - - - - Sub total 25,517 - - Sub total - Total payments 25,517 Net of receipts/(payments) 7,637 A5 Transfers between funds - A6 Cash funds last year end 259 Cash funds this year end 7,896 Unrestricted funds to the nearest £ *Sub total*(Gross income for AR) A2 Asset and investment sales, (see table). A4 Asset and investment purchases, (see table)	to the nearest £ Restricted funds	to the nearest £ Endowment funds	Total funds to the nearest £	Last year to the nearest £
	- - - - - - - - -	- - - - - - - - -	33,154 - - - - - - - 33,154
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	- - - - - - - - - -	- - - - - - - - - -	25,517 - - - - - - - - 25,517	-
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	- - - -	- - - -	7,637 - 259 7,896	-
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Section B Statement of assets and liabilities at the end of the period

Categories B1 Cash funds B2 Other monetary assets B3 Investment assets B5 Liabilities B4 Assets retained for the charity’s own use Signed by one or two trustees on behalf of all the trustees	Details Details Details Details Details Signature *Total cash funds* (agree balances with receipts and payments account(s))	to nearest £ to nearest £ 7,896 - - - - - 7,896 - OK OK to nearest £ to nearest £ - - - - - - - - - - - - Cost (optional) - - - - - Cost (optional) - - - - - - - - - - - - - - Print Name Unrestricted funds Restricted funds Unrestricted funds Restricted funds Fund to which asset belongs Fund to which asset belongs Fund to which liability relates Amount due (optional)	to nearest £ Endowment funds
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			OK
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			Date of approval

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Rèport to the tntsteesl members of IL4. tv Na- i(- Magntfiot On accounts for the year ended 2022 Charlty no (ff any) 1147219 I report to the trust8es my examination of the accounts of the above charity ('the Trust") for the yearended 3 t 112 1 2022. Raspon8lblllt10s and As the charity trustees of the Trust. y¢)u are responsible for th8 basls of report preparation of the accounts in accordance with the reqUIrents of the Charities Act 2011 (kne A(a'). I report In respect of my examinati( of the Trusfs accounts carried out under section 145 of Ihe 2011 Act and in ryIng out my examinatlon, I have followed the applicable Directlons given by the Charlty Commission und8r se¢ti)n 145(5)(b) of the Ad. Independent I have completed my examination. I confinn that no materfal matters •xaminerf8 Statement hav8 to my attention In connection with the examination which glves me cause to belleve that in. any material respecL' accounting recon18 were not kept in 8ox)rdance'Ith section 130 of the Act or the accx)unts do not acrd th the accountlrKJ records I have no concems and have rne auoss no other matters in connection with the examination to which attention should b8 drawn In .order to enable a proper understanding of the acunts to be rea¢hed. Slgned: 26 October 2023 Nam•: Peter M. Currie Relevant professlonal qualification(s) or body (If any): censed attomey Address: 116 Glendale Drive Chapel Hill, NC 27514 USA IER October 2018