## **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 c*wity 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 rert 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 (led 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 aCcdan with serknn 386 of the
Companies Act 2(KJ6,' rx
• the accounts do not ac£ord Vth 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 aCCordare with the Charilies
IFslo2}.
IER
October 2018
I havÈ no cOnmS 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 Undersnll¥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 COnM
(see CC32. Indepent exaMIon of chaiity acc(MJrrts". diredions
guKlm frx examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
October 2018