## **OPUS 48** **REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] AUGUST 2021** **Charity number 1179938** ## **OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2021** ## **LEGAL AND ADMINISTRATIVE DETAILS** ## **TRUSTEES:** ||AGM 12thJuly 2021|AGM 12thJuly 2021| |---|---|---| ||Dr Eleri Adams|re-elected| ||Mrs Joanna Crown|| ||Dr Richard Green|re-elected| ||Mrs Elizabeth Greenlaw|| ||Ms Alison Haill|| ||Dr Andreas Leidenroth|newly elected| ||Dr Angus McLellan|| ||Mr Michael Schofield|| ||Mr Philip Snelling|| ||Mr Ivor Spackman|stood down| ||Mr Brian Tibbels|newly elected| |**PRINCIPAL OFFICE ADDRESS:**|57 Plater Drive|| ||Oxford|| ||OX2 6QU|| |**CHARITY NUMBER:**|1179938|| |**INDEPENDENT EXAMINER:**|Felicity McCallum ICAEW Chartered Accountant|| ## **OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2021** ## **INTRODUCTION** The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31[st] August 2021. The financial statements comply with the Charities Act 2011 and 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) issued in 2019. The legal and administrative information set out below forms part of this report. ## **OUR OBJECTIVES, VALUES AND ACTIVITIES** The objectives of the charity are to advance, improve, develop and maintain public education in, and appreciation of, the art and the science of music in all its aspects by any means the trustees see fit, including the presentation of public concerts and recitals. Our core values in developing the choir include providing high quality, ambitious and adventurous music making for singers and orchestra, fostering a spirit of enjoyment, and taking classical music to all. The charity relies principally on membership subscriptions, income from ticket sales and the support of ‘friends’ to cover operating costs. In pursuing our objectives for the year and planning our activities, the trustees take account of the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The programme of events is designed to appeal to a broad range of musical tastes, encouraging everyone to take part and attend our activities and performances. We aim to present a range of choral concerts for the enjoyment of the community, provide occasional workshops open to all to join in and give a platform for amateur and professional singers and orchestral players to grow. We undertake a concert at Christmas to raise money for a local charity. In pricing subscriptions and events, we give particular attention to creating affordable opportunities for young musicians under 30. In 2020 -2021 our activities have been much constrained due to the Covid-19 pandemic. ## **GOVERNANCE AND MANAGEMENT** Opus 48 was registered as a charity (CIO) on 14[th] September 2018. The charity is governed by the policies made from time to time by the trustees, delivered through a delegated committee. The committee is structured to support a collaborative approach, with teams taking responsibility for tasks and a team leader reporting back at committee meetings. Procedures for the appointment, retirement and removal of trustees are set out in the Constitution. None of the trustees have received remuneration or other financial benefit from their work. ## **OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2021** To meet the requirements of the Charity Commission, three trustees resigned at the AGM in July 2021. Those wishing to stand offered themselves for re-election and both were reelected by the membership. One trustee stood down and two new trustees were elected. ## **ACHIEVEMENTS** Opus 48 is a medium sized chorus for Oxfordshire and beyond. We strive to promote the delivery of high-quality choral works whist managing the constraints that ensure financial security. The supreme challenge for 2020 -21 was the safe pursuit of progress in the context of Covid-19 and as a minimum, the protection of the status quo to enable a bright future. Attempting to plan for the 2020-2021 season during the summer months, the choir committee was faced with an ever-changing ‘covid’ landscape in which it proved impossible to crystallise a definitive way ahead. Our driving ambition was to recommence some form of in-person rehearsing whilst ensuring the safety of the choir members through detailed risk assessments and strict rehearsal protocols. The chosen work, the Pärt Magnificat, lent itself to small group rehearsals and potentially an exciting multimedia project. With venue secured, group timetables in place and cleansing kits prepared, hopes were cruelly dashed as covid numbers rose through the autumn and the government implemented a further lockdown. Undeterred by events, the committee resumed Zoom planning meetings. A return to regular on-line rehearsals was ruled out for fear of virtual fatigue. Attention switched to planning, should guidance allow, for a one off outside carol singing event in an Oxford park in December, preceded by two on-line rehearsals. On the day the weather was fine and the event thoroughly enjoyed, by both choir members and passing pedestrians. Being able to sing together again raised morale and demonstrated that, after nine months of no collective singing, the choir community spirit remained. Sadly, as 2021 dawned, a further lockdown was implemented. The prospect of live rehearsals went into retreat, in all likelihood for the whole term. Virtual meetups presented the only avenue to keep the choir together, working with members to improve the quality of future public performances. A programme including ‘Star Performer’ sessions was launched. This consisted of showcasing the individual performance of highly regarded professional singers, and observing volunteer choir members in an on-line masterclass with the choir conductor. As the spring term ended, hopes and expectations were raised that mid May 2021 would at last enable a masked choir to rehearse together in small groups and deliver a summer concert. The planned repertoire focused on Handel ‘The Ways of Zion do Mourn’, being the first part of ‘Israel in Egypt’, which the choir had been within days of performing in Spring 2020! Two joyous pieces, Parry ‘I was Glad’ and Vaughan Williams ‘Serenade to Music’ ## **OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2021** completed the programme. Strict rehearsal protocols, compliant with venue and choir requirements, were set out once more in a comprehensive risk assessment. Alas, another twist in the tale cast plans into the abyss; meetings were limited to six people. Determined to find some way in which the choir could again rehearse together, the committee engaged with a school close to Oxford willing to hire out its large outside covered sports area, no walls but with roof. Individual members brought a chair to place on their designated spot, or stood throughout. The regulations permitted multiple groups of 30 to meet outside, suitably spaced. Rehearsals began in the barn with views of open country, at least on those rare days on which it was actually warm and not raining. As the planned concert day in July came ever nearer, optimism increased that an event would be able to go ahead in the University Church, subject to mitigations. Principal amongst these was the requirement that all singers wear masks in rehearsal and performance, and restriction of the audience numbers to allow for appropriate spacing. Nevertheless, the choir was singing together again in a concert! In the words of the choir director, finally in live performance, participants and audience experienced a ‘powerful, uplifting and emotional evening’. ## **RISK MANAGEMENT** The trustees have a risk management strategy which ensures that major risks are raised and reviewed regularly at committee meetings. Significant time and effort have been spent this year in ensuring the Covid-19 risk assessment is relevant and up to date. Financial uncertainty continued throughout the year, though Opus 48 commenced the year with a solid cash reserve. Because of Covid uncertainty it was not practical to prepare a conventional budget for the year and the trustees reviewed financial performance and planned ahead on a term-by-term basis. One particular risk was that, because of loss of income from conventional paid activity, Opus 48 might lose the services of its inspirational conductor. Trustees determined that to maintain his services and because of a duty of care his remuneration should, so far as the cash position allowed, be maintained as close as possible to a normal level. In fact, the substantial amount of planning, background work, rehearsals (on-line as well as in-person) and performances within the year substantially justified his remuneration. A second particular risk was maintaining an income stream when there was little participative member activity of a conventional nature and very little income from performances. A formal request for member subscription payments was not made until the third term, when relatively normal rehearsals recommenced. Even then, an opt-out or reduced rate was given for those choosing not to sing. In the second term, members had ## **OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2021** been encouraged to make a non-Gift Aid donation in lieu of subscription to help sustain the financial position; a good proportion of members did this. ## **RESERVES** The trustees have an established policy which incorporates a target level of reserves of £10,000 in normal operating conditions. The disruption from the Covid pandemic means that operations have continued to be far from normal and the level of financial uncertainty has remained greater than normal. In particular it has been (and will continue to be) important for trustees to ensure, firstly, the continued viability of the choir if collective singing is not possible and secondly, when normal singing resumes, that uncertainties (possible shortfalls) in both membership subscription income and box office revenue do not create cashflow difficulties. Levels of reserves above £10,000 are therefore required. As a result of careful balancing of income and expenditure, the trustees have maintained a stable reserves position through an uncertain year. The year to 31[st] August 2021 saw cash reserves change only slightly from £18,431 at the end of the previous season to £18,526. Similarly, net assets increased marginally from £19,558 to £19,617. The trustees have considered a range of trajectories out of the Covid pandemic back to normal operation. Even with pessimistic subscription and box office revenue assumptions, the reserves at 31[st] August 2021 are sufficient to ensure ongoing liquidity, although trustees recognised a small chance that they could fall below the £10,000 target by the end of the first year of resumed normal activity (assumed to be 31[st] August 2022). ## **DECLARATIONS** The trustees declare that they have approved the trustees’ report above Signed on behalf of the charity’s trustees Signature Full name Joanna Crown Position Trustee Date 24 JUNE 2022 ## **OPUS 48** ## **Registered Charity number 1179938** ## **ACCOUNTS - 1st SEPTEMBER 2020 TO 31st AUGUST 2021 RECEIPTS AND PAYMENTS** |**ACCOUNTS - 1st SEPTEMBER 2020 TO 31st AUGUST 2021**
|||||| |---|---|---|---|---|---| |**RECEIPTS AND PAYMENTS**
**General income**
loans
member subscriptions
Friends scheme
gifts and sponsorship
fundraising
gift aid
**General running costs**
Conductor - fees (rehearsal, audition, etc)
accompanist - rehearsal fees
venue hire - rehearsals and auditions
printing and publicity
professional support and insurance
IT
purchase of assets
other
**Event income**
ticket sales/attendance fees
programme sales
event sponsorship
**Event costs**
conductor
soloists
orchestra/accompanists
instrument hire
PRS fees
venue hire
music score hire/purchase
printing and publicity
charity donation
travel
other
**TOTALS**
**SURPLUS OF RECEIPTS OVER PAYMENTS**
**Funds at start of period**
**CASH FUNDS AT 31st AUGUST 2021**|5215
520
2565
241
1159
**9700**
618
**618**
310
**310**
**10628**
**95**
**18431**
**18526**
**receipts**|-1104
repayment of loans
-165
payments = subscription administration
-18
payments = administration/event expenses
-14
payments = donation administration
-49
payments = gift aid administration
**-1350**
-5550
-450
15
-101
-613
-48
-618
**-7365**
-500
-300
-550
-468
**-1818**
**-10533**
**payments**|_Previous accounting period_
_1 st September 2019 to 31st August 20_
_16660_
_-562_
_3639_
_-820_
_1669_
_-11_
67
_4203_
_-149_
**_26238_**
_-5385_
_-1800_
_-1528_
_-365_
_-613_
_-177_
-618
_73_
_-5_
**_73_**
_5555_
_-279_
_117_
**_5672_**
_-2700_
_-600_
_-530_
-69
_-2879_
_444_
_-778_
_-839_
_-250_
_61_
_-5_
**_505_**
**_32488_**
**_11526_**
**_6906_**
**_18431_**
**_receipts_**
**_pay_**||_20_
**_ments_**| ||618|-5550
-450
15
-101
-613
-48
-618|_73_|_-5385_
_-1800_
_-1528_
_-365_
_-613_
_-177_
-618
_-5_|**_-1542_**
| ||310|-500
-300
-550
-468|_5555_
_117_|_-279_|**_-10491_**| ||||_444_
_61_|_-2700_
_-600_
_-530_
-69
_-2879_
_-778_
_-839_
_-250_
_-5_|**_-279_**
| ||||||**_-8651_**| ||||||**_-20962_**| **Note** **1** All funds are unrestricted. **Registered Charity number 1179938** ## **OPUS 48** ## **ACCOUNTS - 1st SEPTEMBER 2020 TO 31st AUGUST 2021 ASSETS AND LIABILITIES AT 31st AUGUST 2021** |**Cash funds**
Lloyds current account
**Other monetary assets**
income not received by 31.8.21
gift aid
expenditure in advance for 2021-22
concert venue hire credit (from March 2020)
**Fixed assets**
concert music folders
no longer considered a fixed asset
**Liabilities**
loans
general running costs not paid by 31.8.21
rehearsal space costs
publicity costs
event costs not paid by 31.8.21
PRS fees (maximum liability)
**TOTALS**
**NET ASSETS**
**Notes**|18526
**As**|**18526**

**53**

**1566**

**0**
**20145**
**19617**
**sets**|0
**Liab**|_Previous acco_
_membership subscriptions_
_event income_
_refund of rehearsal venue fees_
_concert venue hire credit (from March 2020)_

**0**

_publicity costs_

**-353**

_PRS fees (maximum liability)_
**-175**
**-528**
**ilities**|_unting period_
_18431_
**_As_**|_- 1 st September 2_
**_18431_**
**210**
**1566**
**618**
**_20826_**
**_19558_**
**_sets_**|_019 to 31st Au_
_-1104_
**_Liab_**|_gust 2020_
**_-1104_**
**_-29_**
**_-135_**
**_-1268_**
**_ilities_**| |---|---|---|---|---|---|---|---|---| ||53
1566
0||||_100_
_20_
_90_
_1566_
_618_|||| |||||||||| ||||-180
-173||||_-29_|| ||||-175||||_-135_|| 1 All funds are unrestricted. **2** No guarantees have been given by Opus 48 **3** No debt has been secured by an express charge on an Opus 48 asset CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the truste mernbers of OPUS LF8 On accounts for the year ended Charity no (If any) 11Trgq 3Y Set out on pages I rep(rt to the trustees th my examination of the counts of the atx)ve charity (-ttE Tnjsf) forthe year erKled 31 / 0% ftsLI . Responsibilities and As the chartty trustees of the Trust you are reSpC￿sIble forthe preparation basis of report ofthe accounts n acc(Kdancewilh the r￿uIrements of the Charitses Act 2011 fthe Acr). I retth in restect crf my examirotwm crf the Trusfs aCC￿nts carried under s&lK)n 145 of the 2011 Act aTrJ in carying oul my examination, I have fc41ow&Y the applicabte Direc1Kr￿ given by the Charity CommBston under section 1495)Ib) of the ACL I have ccthple￿ my examination. I confirm that Th) matertal matters have cc¥neto my attention ") in connection wÈth the examination wh￿h gives me cause to Wieve that in. any material Independent examine¢s statement accountiru recor(Is were ￿t kept in acC(x(la￿Wilh section 130 of the Act or the accounts Ik) not acccffd wilh the accwntirwJ re¢￿dS I have no arKI have comea¢rcA* ￿ other matters in C￿n￿lIOn with the examination to vthich attenti(￿ Sh￿￿1 be drawn in ￿ to enable a prr4)er urKlerstandirKJ ofthe ￿CoUnts to be reached. "p delete the words ￿ the braGkets rfthey do not apply. Signed: Date: oLfr LL Narne: Relevant professlonal qualification(s) or body lrfany): frLÈ( CILtstr4) Address: XL7NY IER October 2018 Section B Disclosure Only complete rf the examinerneets to hWI￿h1 matters of concern (see CC32, ITh1ep￿￿t examinakn of charity acc(xJnts: rfirections and gu￿jan￿ for exam1r￿s). Give here brief details of any items that the examiner wishes to disc1059. IER October 2018