Spectra Ensemble
Trustees’ report for the year ended 5 April 2021
The Trustees present their report and financial statements for the year ended 5 April 2021.
Reference and administrative details
Charity name: Spectra Ensemble Charity registration number: 1185940 Registered office address: 7 Blenheim Drive Oxford OX2 8DH
Trustees: Ms Florence Carr Ms Giulia Sartori Conte Mr Jonathan Cross Mr Mark Galtrey Ms Cressida Peever (chair) Ms Susanna Stranders
Structure, governance and management
The charity is an Association Model CIO governed by articles of association adopted on 20 March 2019. Spectra Ensemble was registered as a charity on 22 October 2019.
Objectives and activities
The purpose of the charity, as set out in the governing document, is:
To promote and foster for the benefit of the public the understanding and appreciation of opera, as well as associated aural and visual arts, through the provision of public performances and related educational events.
Our activity generally consists of operatic performances and educational workshops through which we challenge traditional definitions of opera and open opera up to new audiences.
The charity trustees have complied with the duty in section 4 of the 2006 Act to have due regard to guidance on public benefit published by the Charity Commission.
Achievements and performance
Spectra Ensemble was scheduled to revive its production of The Boatswain’s Mate in 2020 for a further run in London followed by a regional tour. Unfortunately the COVID-19 pandemic prevented this from going ahead. However, during the winter and spring of 2019-20, the charity ran a successful fundraising campaign for the production, meaning that the vast majority of the budget is already in place for a postponed London run, now scheduled to take place in 2022.
In the spring of 2020, Spectra Ensemble ran a pilot programme of workshops in secondary schools inspired by its 2019 production of Treemonisha . We went to Harris Academy Bromley and Mill Hill County High School, where we delivered workshops to a combined total of 220 students.
During lockdown in 2020, Spectra Ensemble started a podcast, ‘Performance in Progress’, hosted by directors Cecilia Stinton and Jessie Anand. This has been an excellent way to keep the organisation’s profile up whilst other activity has been impossible, and has also enabled us to network with other people in the opera industry who have joined us as guests.
Financial review
At the end of its first full financial year, Spectra Ensemble’s reserves are low. Opportunities to build up reserves have been limited in a year characterised mainly by the COVID-19 pandemic.
The charity trustees wish to build a higher level of reserves in due course. Spectra Ensemble has no core operating costs as it runs on a project-by-project basis. These projects vary in scope, but a production could cost anywhere between £20,000 and £60,000 at Spectra Ensemble’s current stage of development. As a rule of thumb, the charity trustees would like to hold reserves equivalent to 10% of an average production budget, which at the moment would be £4,000.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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 issued in October 2019.
This report was signed on behalf of the Board of Trustees by
Cressida Peever, Trustee 2 February 2022
Spectra Ensemble 1185940
Receipts and payments accounts For the period 10/22/2019 4/5/2021 To from
Section A Receipts and payments
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Unrestricted Restricted Endowment
Total funds
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Donation from predecessor organisation on its 900 - - 900
winding-up
Donations from individuals 2,200 - - 2,200
Grants for production (The Boatswain's Mate) 17,575 17,575
Grants for engagement work - 1,000 - 1,000
Fees for engagement work 1,050 - - 1,050
- - - -
- - - -
- - - -
- - - -
Sub total (Gross income for AR) 4,150 18,575 - 22,725
A2 Asset and investment sales, (see
table).
- - - -
- - - -
Sub total [ - ] - - -
Total receipts 4,150 18,575 - 22,725
A3 Payments
Arcola Theatre - deposit to secure slot 1,000 - 1,000
Fees for engagement work 200 1,000 - 1,200
Repayment of loan 2,000 - 2,000
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Sub total 2,200 2,000 - 4,200
A4 Asset and investment purchases,
(see table)
- - - -
- - - -
Sub total - - - -
Total payments 2,200 2,000 - 4,200
Net of receipts/(payments) 1,950 16,575 - 18,525
A5 Transfers between funds - - - -
A6 Cash funds last year end - - - -
Cash funds this year end 1,950 16,575 - 18,525
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Section B Statement of assets and liabilities at the end of the period
Categories
B1 Cash funds
B2 Other monetary assets
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Unrestricted Restricted
Details funds funds
to nearest £ to nearest £
Barclays current account 1,950 16,575
- -
- -
Total cash funds 1,950 16,575
(agree balances with receipts and payments
account(s)) OK OK
Unrestricted Restricted
funds funds
Details to nearest £ to nearest £
Remaining 10% of grant from Arts Council 1,064 -
England
Deposit refund from Arcola 1,000 -
- -
- -
- -
- -
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B3 Investment assets
B4 Assets retained for the charity’s own use
B5 Liabilities
Signed by one or two trustees on behalf of all the trustees
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Fund to which
Details asset belongs Cost (optional)
-
-
-
-
-
Fund to which
Details asset belongs Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which Amount due
Details liability relates (optional)
Repayment of loan from Jessie Anand Unrestricted 1,500
-
-
-
-
Signature Print Name
Mark Galtrey MARK GALTREY
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CC16a Last year to the nearest £
Endowment funds
to nearest £ - - - -
OK
Endowment funds
to nearest £
Current value (optional)
-
Current value (optional)
-
When due (optional)
Repayment due on a flexible basis as and when the financial position of the charity allows
Date of approval
4/15/2021