OPUS 48
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31[ST] AUGUST 2024
Charity number 1179938
OPUS 48 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2024
LEGAL AND ADMINISTRATIVE DETAILS
TRUSTEES:
As of AGM 8[th] July 2024
Eleri Adams stood down Joanna Crown Richard Green Mike Schofield stood down Fiona Cuthbertson Sorrel Young Gemma Guest Melinda Kenneway stood down Katherine Roberts newly elected Benjamin Selby Neil Pratt Brian Tibbels Derek Stone
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 2024
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 2024.
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)’. With this in mind, 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. 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 in accordance with its constitution, and by the policies and decisions made from time to time by the trustees. The trustees take a collaborative approach, delegating tasks, where appropriate, to individual teams who report back on those tasks at trustee meetings.
Procedures for the appointment, retirement and removal of trustees are set out in our constitution. None of the trustees receive remuneration or other financial benefit from their
OPUS 48
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2024
work. In accordance with the requirements of our constitution, three trustees resigned at the last AGM. They did not offer themselves up for re-election. One new trustee was elected.
An AGM must be held every 15 months. The most recent AGM took place on 8[th] July 2024.
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 2023-2024 the choir continued to build on its reputation for excellence with regular rehearsals and a full programme of concerts and workshops over the year. The membership of the choir remains steady while audience growth this year was markedly up on previous years.
As is customary, September started with a workshop giving the choir an opportunity to sing some of the pieces scheduled for the November concert. The theme for that performance was the Spanish Renaissance, and included works by Victoria, Lobo, Guerrero and Morales. The concert was followed by a Christmas concert, featuring music by Britten, Tavener, Joubert and Lauridsen, as well as a new piece specially commissioned from Christopher Churcher.
The spring season began with our second workshop at St. Andrew’s Church in Oxford. This focussed mainly on the pieces to be performed at the March concert, the Mozart Requiem and Gjeilo’s Sunrise Mass. After two months of intense rehearsals, the choir performed these stunning (but very different) works in front of a capacity audience at Oxford’s Sheldonian Theatre.
The summer season started with our third workshop. This was followed by rehearsals for our summer concert, featuring works for piano and choir by Lauridsen, Jenkins, Todd and others that we performed to another capacity audience in the University Church in central Oxford in July 2024.
RISK MANAGEMENT
The trustees have continued a management approach which ensures that risks are raised and reviewed regularly at trustee meetings. The meeting structure requires that team members submit reports prior to the meeting highlighting any potential issues to be discussed.
Operational risks, to be managed during the season, relate mainly to ensuring that concert venues are booked in advance, music sourced, and workshops and rehearsals properly scheduled. In addition, the choir continues to audition potential new members throughout the year, to maintain numbers and to ensure the long-term vitality of the choir. New
OPUS 48
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR 31[ST] AUGUST 2024
members are sourced through a range of advertising methods, including ‘Come and Sing’ events, word of mouth and social media.
Financial risks stem from rising costs for venues, music, and musicians, as well as uncertainties about box office revenue. The trustees manage the financial uncertainty at the start of the year by putting in place a robust budget for the choir’s activities for the year . The budget is based on conservative assumptions for ticket sales and costs, and potential downside risks such as cancellation costs due to the reimposition of Covid restrictions or other unforeseen events.
RESERVES
The trustees have an established policy which incorporated a target level of reserves of £10,000 in normal operating conditions. This reserve was increased to £15,000 at the 2024 AGM in recognition of growing costs. The cash reserve on 31[st] August 2024 was £29,289. This is higher than the cash reserve of £17,366 on 31st August 2023 and comfortably above the £15,000 target level. Net assets increased] from £15,514 to £27,069.
It is not the trustees’ desire to sit on unnecessarily large cash reserves , and so the programme for the 2024-2025 season has been designed to be prudent while making 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 Chair of the trustees
Date 13 June 2025
Registered Charity number 1179938
OPUS 48
ACCOUNTS - 1st SEPTEMBER 2023 TO 31st AUGUST 2024 RECEIPTS AND PAYMENTS
| ACCOUNTS - 1st SEPTEMBER 2023 TO 31st AUGUST 2024 |
||||||
|---|---|---|---|---|---|---|
| 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 |
19895 2672 265 4458 27291 25563 0 25563 4284 246 4530 57384 11954 17336 29290 receipts |
pay | 0 -14366 -2595 -28469 -45430 ments |
Previous accoun 1st September 2022 to 18450 2282 258 3928 24918 82 82 21853 21853 1134 70 1204 48057 -6120 23456 17336 receipts |
ting period 31st August 2 -589 -685 -130 pay |
023 payments = subscription administration payments = administration + event expenses payments = gift aid administration -1404 includes photography and filming receipts = member contributions -13575 payments = box office commission -1826 Receipts = choir member contributions Receipts = choir member contributions -37372 -54177 ments |
| -7914 -2703 -2385 -150 -731 -483 |
82 | -7258 -2220 -3003 -30 -688 -189 -187 |
||||
| 25563 0 |
-2595 | 21853 | -1826 | |||
| 4284 246 |
-2940 -2100 -9750 -540 -4938 -4327 -2015 -1859 |
1134 70 |
-3000 -3840 -20650 -5765 -1802 -2314 -1 |
|||
Note
1 All funds are unrestricted.
OPUS 48
Registered Charity number 1179938
ACCOUNTS - 1st SEPTEMBER 2023 TO 31st AUGUST 2024 ASSETS AND LIABILITIES AT 31st AUGUST 2024
| Cash funds Lloyds current account Other monetary assets income not received by 31.8.24 Fixed assets Liabilities income general running costs not paid by 31.8.24 event costs not paid by 31.8.24 PRS fees (maximum liability) TOTALS NET ASSETS |
29290 As |
29290 0 0 29290 27069 sets |
-96 Liab |
Previous accounting period - 1st 17336 gift aid 55 0 overpayment of subscriptions -96 rehearsal space costs -750 PRS fees (maximum liability) -1375 -2221 ilities As |
Previous accounting period - 1st 17336 gift aid 55 0 overpayment of subscriptions -96 rehearsal space costs -750 PRS fees (maximum liability) -1375 -2221 ilities As |
September 2021 t 17336 55 0 17391 15514 sets |
o 31st August 0 Liab |
2022 ilities |
|---|---|---|---|---|---|---|---|---|
| 0 0 |
55 0 |
|||||||
| -750 | 0 | 0 |
||||||
| -1375 | -1877 | 0 -1877 |
||||||
| -1877 |
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
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Exatniner s Report Roport to the trust6MI OPUS IFY On accounts for the year £1 ¢ufi DS I %A)£LF Charlty no Ilf any lit993 Sot out on pag I report to the trustees on my examlnatlon of the ants (4 the above arlty (Ihe TnBf) for tho year ended S l O Y 211P Ro•ponslbllltles and As the dwlty crf the Trust. y>U are responslbl8 for the proparation basls of rnport of the a(wunts In acCnC with tha requirements of the Charities Act 2011 fthe Acr}. I refKwt In respec of my 8xamlnatlon of the TNSt's acJ))unts canl8d out under section 145 of the 2011 Act and in caryng out my examination, I have fdlowed the appllcat)le DlrectkM glven by the Charty Commls81on under se¢tk)n 145(5)(b> of the Act. 1ftd0ndont I have c•t8d my examlnath)n. I confimi Ihat no materlal matt8r8 hav8 •xamlnerf• 8tatsment c¥)me to my 8tt8ntbJn (beb.} In connection wilh th8 eXaminatn vthich gives me cause to b81iav8 that in. any materi81 accountlry records not kept In a(rxdance wth 88ctbon 130 of the Act or I h8V8 no concems and have come acmss no other matters in connection with the examlnation to attenth)n should be drawn in order to enab18 8 prop8r urKl8r5tsndlry d the accounts to b8 re8ch•d. ' Please dele rds In the brnd(8ts rfthey do not apply. OE TY LLOOE MQLOLLU Relevant profosslonal quallllcallon(s) or body (If any): fvGJt LILrtE Addrnss: OYADLJ OYL 7 IER OCtoT 2018
Section B Disclosure Onty ccmwe If the examlner needs to hBhkght mattefs of (¥xKem {see CC32. Independent exAmInati( of charlty aCcInts. direclions and guidance for examlners). Glve hare brfof dotalls of any Items that th8 examlner wlshes to di8¢10M. IER October 2018