2022-08-31-accounts - Opus 48

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OPUS 48

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] AUGUST 2022

Charity number 1179938

OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2022

LEGAL AND ADMINISTRATIVE DETAILS

TRUSTEES:

AGM 11[th] July 2022

Dr Eleri Adams Mrs Joanna Crown Dr Richard Green Mrs Elizabeth Greenlaw stood down Ms Alison Haill Dr Andreas Leidenroth Dr Angus McLellan re-elected Ms Julia Middleton newly elected Mr Michael Schofield re-elected Mr Philip Snelling Mr Ben Selby newly elected Mr Brian Tibbels

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 2022

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 2022.

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 include challenging our singers to improve and fulfil their potential, promoting team spirit and enjoyment, and achieving levels of communication between singers, conductor and instrumentalists to produce truly collaborative performances. For income 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)’. We seek to foster good relationships with the local community and to engage many different groups of listeners, through performances and complementary activities such as talks and public events. Part of our remit is to give back to the local community through open rehearsals, ‘come and sing’ events and working with young people in education in inspirational ways. We undertake a concert at Christmas, raising money for a local charity. In pricing subscriptions and events, we give particular attention to creating affordable opportunities for young musicians under 30.

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 team leaders 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 2022

To meet the requirements of the Charity Commission, three trustees resigned at the AGM in July 2022. Those wishing to stand (two) offered themselves for re-election and were reelected by the membership. One trustee stood down and two new trustees were elected.

ACHIEVEMENTS

As a medium sized choral society for Oxfordshire and beyond, we strive to deliver high quality choral concerts whilst managing within the constraints that ensure financial security. The key challenge for 2021-2022 was the re-establishment of our high performance standards in the receding Covid era and rebuilding our audiences.

At the outset of the season in September, the shadow of Covid hung over rehearsals, requiring continuation of the mitigations and protocols from the previous season. Rigorous ventilation and subsequent cold were to be companions for most of the term. A workshop, shortened as a Covid precaution, introduced the works to be tackled; Tallis ‘ Spem in Alium’ and Gluck ‘Orfeo and Euridice ’. The former, a challenging work in 40 parts, was subsequently delivered in a performance full of emotion; the latter brought all parts together, soloists, instrumentalists and singers to great effect. This was reflected in an audience standing ovation. Closely following on, our Christmas concert included Britten’s ‘ Ceremony of Carols ’ along with a selection of others. It raised funds for ‘Restore’, an Oxford based mental health charity. This, however, was an occasion tempered by the rise of Omicron, and singers once more in masks in rehearsals and on the night.

As the Spring Term began, Omicron had yet to peak and mitigations remained in place. A workshop, as near normal as possible, introduced our works for the term - Handel ‘ Dixit Dominus’ and Mozart ‘Great Mass in C Minor’ . Moving through February, Covid precautions eased as the pandemic receded and ‘living with Covid’ became the future. The term culminated with a performance of power and high quality, achieving unity of orchestra, soloists and choir. The audience exceeded estimates as confidence in being together began to return and listeners sought once again the joy of hearing live music.

The Summer Term offered the choir and audience a wholly different musical challenge and experience. An unusual programme of works for choir and solo cello introduced compositions by Enersen, Gjeilo, Nystedt, Richard Rodney Bennett and Tavener. The drama and beauty of the music in performance reflected the interplay of cello and voices, producing a wide range of colours and sounds.

OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2022

RISK MANAGEMENT

The trustees have continued a management approach which ensures that risks are raised and reviewed regularly at committee meetings. The meeting structure requires that team members submit reports prior to the meeting and in doing so, include potential issues. Governance was strengthened at the AGM by the election of an additional trustee.

Operational risks to be managed during the season again stemmed mainly from the Covid pandemic. The changing nature of the virus and consequent guidelines required continual monitoring and updating of arrangements; for example rehearsal protocols. The resilience of singers, Friends and potential audiences was an unknown. A pre-season poll of members intentions was carried out to ensure there would be a sufficiently strong and balanced choir for the chosen works. New members were sourced through a varied range of advertising methods, including ‘come and sing’ opportunities and a strengthened presence of the choir on social media.

An unknown level of return of concertgoers and new audiences posed financial risk through the potential loss of box office revenue. Visitor levels in the city were down, with tourists having previously been a significant number at some concerts. For safe financial planning, audience numbers were estimated at pessimistic levels for concert income. A review of orchestral player and soloist contracts was undertaken to ensure the protection of choir funds should unexpected cancellations be needed.

To ensure the continuance of strong financial governance, trustees undertook the Charity Commission ‘Financial Controls Review’. As an outcome, the trustees implemented a plan to expand and formalise the finance team. Four trustees now operate an ongoing financial oversight.

RESERVES

The trustees have an established policy which incorporates a target level of reserves of £10,000 in normal operating conditions. Given the substantial financial uncertainty at the start of the year when emerging from Covid restrictions, a cautious budget and economical programme for the year were put in place. The trustees had considered a range of trajectories out of the Covid pandemic back to normal operation.

In the event, subscription and concert income turned out better than budgeted and than we might have expected, though Friends income was somewhat less good than hoped. This better than budgeted performance has allowed investment in, for example, our inspiring musical director (mitigating a potential risk) and in promotional activity (eg filming).

OPUS 48

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2022

Reserves at the end of the year are substantially higher than the minimum desirable £10,000. The year to 31[st] August 2022 saw cash reserves increase from £18,526 at the end of the previous season to £23,456. Similarly, net assets increased from £19,617 to £22,361.

It is not trustees’ desire to sit on unnecessarily large cash reserves and so the programme for 22-23 has been designed to make effective use of the available cash.

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 06 JUNE 2023

OPUS 48

Registered Charity number 1179938

ACCOUNTS - 1st SEPTEMBER 2021 TO 31st AUGUST 2022 RECEIPTS AND PAYMENTS


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 and advertising 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 2022	receipts 18675 2056 154 3534		pay -591 -526 -119	ments payments = subscription administration payments = administration + event expenses payments = gift aid administration	1st *rec* 5215 520 2565 241 1159	Previous accou September 2020 to *eipts*	nting period 31st August 2021 *payments* -1104 -165 -18 -14 -49
	77	24419 77 13904	-6273 -2160 -2149 -1387 -672 -202 -74	-1236 includes photography and filming receipts = member contributions -12917 payments = box office commission -1243 Receipts = choir member contributions	618	*9700* *618* *310*	*-1350* -5550 -450 15 -101 -613 -48 -618
	13763 141		-1242 -1		310		*-7365*
	3208		-2100 -2500 -8855 -141 -2830 -3347 -1309 -200				0 -500 -300 -550 -468
		3208 41608 4930 18526 23456		-21282 -36678		0 *10628* 95 *18431* *18526*	*-1818* *-10533*

Note

1 All funds are unrestricted.

OPUS 48

Registered Charity number 1179938

ACCOUNTS - 1st SEPTEMBER 2021 TO 31st AUGUST 2022 ASSETS AND LIABILITIES AT 31st AUGUST 2022

As 23456	sets	Liab	Previous accounting ilities	period - 1st As 18526	September 2020 *sets*	to 31st August 2021 *Liabilities* 0 0 -180 -173 *-353* -175 *-175* *-528*
30	23456 30 0 0	-300	gift aid 53 concert venue hire credit (from March 2020) 1566 0 -300 rehearsal space costs publicity costs -80 PRS fees (maximum liability)	53	*18526* 53 *1566* 0	0
0				) 1566
0				0

		-80				0 -180 -173
		-745				*-353* -175
	23486 22361		-745 -1125		*20145* *19617*

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