2023-08-31-accounts

OPUS 48

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] AUGUST 2023

Charity number 1179938

OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2023

LEGAL AND ADMINISTRATIVE DETAILS

TRUSTEES:

As of AGM 1 ~~1~~[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 2023

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 2023.

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, primarily through performances of a wide range of choral music in different venues in Oxford. Part of our remit is to give back to the local community through occasional open rehearsals and ‘come and sing’ events, and working with young people in education in inspirational ways. We undertake a concert at Christmas, often raising money for additional local charities. 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 2023

In accordance with the requirements of our constitution, three trustees resigned at the AGM in July 2022 (in the last reported year). Those wishing to stand (two) offered themselves for re-election and were re-elected by the membership. One trustee stood down and two new trustees were elected.

An AGM must be held every 15 months. No AGM was held during the year 2022-23 and no changes to the Trustees were recorded during this reporting year.

ACHIEVEMENTS

As a medium sized choral society for Oxfordshire and beyond, we strive to deliver high quality choral concerts while maintaining the financial security of the choir. In 2022-23 the choir continued to recover strongly from the disruptions of Covid with a return to regular rehearsals and a full programme of concerts and workshops over the year. This was reflected in an increase in members and the steady continued growth in the size of audiences at our concerts over the year.

At the outset of the season in September, a workshop introduced the works to be tackled for the Choir’s November concert, ‘ The Glories of Venice ’. This was a wide-ranging programme of well-known and less familiar music from the Renaissance and early Baroque period. This concert was closely followed by our Christmas concert which featured a performance of Handel’s well-known Messiah .

The spring season began with our second workshop at which the choir started to prepare Verdi’s Requiem . The choir performed this dramatic work to a packed audience in Oxford’s Sheldonian Theatre in March 2023.

We opened the summer season with a ‘Come and Sing’ Beethoven’s Choral Symphony held in St. Andrew’s Church in Oxford that was open to all. This was closely followed by our third workshop and the commencement of rehearsals for our summer concert which comprised Arvo Pärt’s Berliner Messe and the rarely performed Via Crucis by Franz Liszt. We performed these less familiar works to an enthusiastic capacity audience in the University Church in central Oxford in July 2023.

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.

Operational risks to be managed during the season stemmed mainly from the need to ensure that concert venues were booked in advance, music sourced, and workshops and rehearsals scheduled in advance. In addition, the choir continued to audition potential new members through the year to ensure the long-term vitality of the choir. New members were

OPUS 48

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2023

sourced through a varied range of advertising methods, including ‘Come and Sing’ opportunities and social media.

Financial risks stemmed from rising costs for venues, music, and musicians as well as uncertainties about box office revenue. The trustees managed the financial uncertainty at the start of the year by putting in place a robust budget for the choir’s activities for the year that was based on conservative assumptions on ticket sales and costs and potential downside risks such as cancellation costs due to the reimposition of Covid restrictions.

RESERVES

The trustees have an established policy which incorporates a target level of reserves of £10,000 in normal operating conditions. The cash reserve on 31[st] August 2023 was £17,366. This is somewhat lower than the cash reserve of £23,456 on 31st August 2022 but is comfortably above the £10,000 target level. Net assets decreased from £22,361 to £15,514.

It is not trustees’ desire to sit on unnecessarily large cash reserves and so the programme for the 2023-24 season 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 23 JUNE 2024

Previous accounting period	1st September 2021 to 31st August 2022	receipts payments	18675 -591	2056 -526	154	3534 -119	24419 -1236	-6273	-2160	-2149	-1387	-672	-202		77 -74	77 -12917	13763 -1242	141 -1	13904 -1243	-2100	-2500	-8855	-141	-2830	3208 -3347	-1309	-200		3208 -21282	41608 -36678	4930	18526	23456
			payments = subscription administration	payments = administration + event expenses		payments = gift aid administration					includes photography and filming				receipts = member contributions		payments = box office commission								Receipts = choir member contributions			Receipts = choir member contributions
		payments	-589	-685		-130	-1404	-7258	-2220	-3003	-30	-688	-189	-187		-13575	-1826		-1826	-3000	-3840	-20650		-5765	-1802	-2314		-1	-37372	-54177
		receipts	18450	2282	258	3928	24918								82	82	21853		21853						1134			70	1204	48057	-6120	23456	17336
RECEIPTS AND PAYMENTS			General income member subscriptions	Friends scheme	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 costs conductor	soloists	orchestra/accompanists	PRS fees	venue hire	music score hire/purchase	printing and publicity	charity donation	other		TOTALS	SURPLUS OF RECEIPTS OVER PAYMENTS	Funds at start of period	CASH FUNDS AT 31st AUGUST 2023	Note	1 All funds are unrestricted.

		Previous accounting period - 1st September 2021 to 31st August 2022	Assets Liabilities	23456	23456	gift aid 30	0 30	overpayment of subscriptions -300 0	rehearsal space costs -80 -300	PRS fees (maximum liability) -745 -80	-745	23486 -1125	22361
			Liabilities					0	0 0	0 -1877	-1877	-1877
			Assets	17336	17336	55	55 0	0				17391	15514
ACCOUNTS - 1st SEPTEMBER 2022 TO 31st AUGUST 2023	ASSETS AND LIABILITIES AT 31st AUGUST 2023			Cash funds Lloyds current account		Other monetary assets income not received by 31.8.23 gift aid	Fixed assets	Liabilities income	general running costs not paid by 31.8.23	event costs not paid by 31.8.23 PRS fees (maximum liability)		TOTALS	NET ASSETS	Notes	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

IHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner s Report Report to the trusteesldlrectorsl OPUS 4-S On accounts forthe year ended 31 Charity n￿. CrAnpany no.: I reportto the cwity trustees on my examinaion of the arxounts of the Company ts the year eThJed 31 o g lo13 As the trustees of the Company (Twho are akn the directors of the (x)mpany fcK the purKM)ses of company law). you are r&spK)nsible for the preparation of the accourts in accordance with Ihe ￿UIreMents of Ihe C(wanies Act 2(N)6 (Ihe 20[￿ A(f). Responsibllhies and basls of report Hawng satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2(K16 Act and are eli9ibl8 for independent examination. I re￿rt in respert of my examination of your charivs accounts as (rried out under section 145 of the Charities Act 2011 2011 Acf). In 12rrying (Krt my examinatM)n. I have followed the Direclions given by ￿ Charity Cornmiss￿ (under section 145(5Xb) ofthe 2011 A( Independent examine¢s statement -appli$￿￿ll. Delete [ ] rf not applicable. I have (￿l￿ed my examination. I confirrn thal rn material matters have come to my attention {olher than that disclosed bek)w") which gives me use to believe that" ' accounting records not kept in aCc￿dan￿ with serknn 386 of the Companies Act 2(KJ6,' rx • the accounts do not ac£ord V￿th records. or . the accounts do not ¢cmply with relevant accounting requirements under section 3% of the ComFonies Act 2006 other than any requirement that the a¢o)unts give a Inje arKI fairf Mew which is not a matter considered as part of an independent examinatÉon" or .the accourrts have not LEen prepared in aCCordar￿e with the Charilies IF￿slo2}. IER October 2018

I havÈ no cOn￿mS and have come a(yoss rro other matters in connectlon with the examinaticm to which attenti￿ should be dravm in this rep￿￿ in (Kder to erHble a sxr4)er Unders￿n￿ll¥J ofthe accounts to be reached. . Please delete the wonls in the brackets rftheydo not apply. Signed: 01 06 Zoz Relevant professlonal qualifi¢ationls) or body frfany): 316 (¥fiAI c¥L Section B Disclosure Onty (x)mplete rf the examiner nee(ts to hv3hlight material matters of COn￿M (see CC32. Indepen￿t exaMI￿￿on of chaiity acc(MJrrts". diredions guKlm frx examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018