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2022-12-31-accounts

Olympias Music Foundation Trustees report and financial statements for the year ended 31 December 2022

Olympias Music Foundation

Trustees report and financial statements for the year ended 31 December 2022

Contents

Trustees and advisors..........................................................................................................................1 Trustees report.....................................................................................................................................2 Statement of financial activities for the year ended 31 December 2022..............................................7 Balance sheet as at 31 December 2022..............................................................................................8 Notes to the financial statements for the year ended 31 December 2022............................................9

Olympias Music Foundation

Trustees and advisors

Trustees

Jo Yee Cheung (resigned on 20[th] April 2023) Rick Eling – Chair (appointed on 20[th] April 2023) Yana Eskandari Aziz Ibrahim Helen Krizos Joseph Markus (resigned on 20[th] April 2023) Suki Pardesi Keisha Thompson (appointed on 20[th] April 2023)

Registered office

7 Brundretts Road Manchester M21 9DA

Bankers

Lloyds Bank plc Blackheath London Branch

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Olympias Music Foundation

Trustees report

The Trustees present their annual report and financial statements covering the year to 31 December 2022. OMF was established in 2015 to carry out various activities in the Manchester area, focusing on the provision of access to music and music education to disadvantaged groups including, in particular, children and vulnerable adults.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

OMF was established as an unincorporated association, governed by its constitution dated 23 June 2017 (as amended on 10 January 2018). On 23 April 2021, OMF resolved to dissolve itself for the purpose of incorporating as a charitable incorporated organisation (‘CIO’). The CIO was established on 23 April 2021 and is governed by its constitution of the same date. These accounts concern the CIO, which succeeded the association and operated from 23 April 2021. The charitable purposes of the CIO, its objectives and activities mirror those of its predecessor organisation.

Appointment of Trustees

The Trustees are appointed in accordance with the constitution and are listed on page 1. The minimum number of Trustees is three; there is no maximum number. The method for appointment of trustees and the duration over which they hold office is described in the constitution.

OBJECTIVES AND ACTIVITIES

The objectives of the charity are to advance the education of the public in the subject of music by providing opportunities for active engagement and participation in music-making. This is done by providing choirs, music workshops, concerts, music lessons and other musical opportunities for children and adults – with a particular focus on reaching communities in the areas of Ardwick, Longsight, Rusholme and Moss Side.

The Trustees seek to achieve those objectives by establishing services in Manchester which provide access to music education for children, vulnerable adults (including refugees, asylum seekers and victims of domestic violence) and individuals with special educational needs, and to seek to advance community integration and social empowerment of those groups.

STATEMENT OF PUBLIC BENEFIT

The Trustees have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The Trustees believe that the activities carried out benefit the public by providing music education and access to music to members of the community in disadvantaged parts of Manchester that would not ordinarily enjoy that sort of education or access.

ACHIEVEMENTS AND PERFORMANCE

2022 marks Olympias Music Foundation’s (OMF’s) 7[th] year in Longsight and a year of growth and transformation for the charity. In previous years, the charity relied heavily on partnerships with local schools to deliver free music lessons through its Maingot Violin Scholarship Programme and SEND music workshops for children with additional needs at St John Vianney school. The charity also maintained two community children’s choirs after-school (Children’s Voices for primary school-aged

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children and Youth Voices for secondary school-aged young people) and a singing group for female refugees and asylum seekers (Voices of Hope) alongside these school-based music lessons.

The consequences of the 2020/21 coronavirus pandemic, and its impact on young people’s mental and physical health and well-being, made it clear that OMF needed to be able to communicate with families directly and make decisions about how to deliver its programmes independently of schools. Moreover, OMF teachers felt that what was best for their students from a music pedagogy perspective (e.g., one-to-one or small group lessons in a quiet classroom) was often at odds with what was possible within the structures of school timetable and the spaces available, with children missing out on classroom teaching to attend music lessons and/or having their lessons in less than ideal venues (e.g., storage cupboards, school corridors or gyms in which PE lessons are also taking place).

As detailed in OMF’s 2021 Financial Statements, this led to the creation of the Learn to Play free instrumental lesson programme in September 2021, which is open to all children aged 6-16 in receipt of free-school meals, income support or who are refugees and asylum seekers irrespective of school or where they live in Manchester. Following the successful launch of the programme and the recruitment of 46 children onto the programme in 2021, our priority in 2022 was to now secure core funding to stabilise the charity and the sustainability of Learn to Play in future years. On 24[th] February 2022, OMF was awarded £115,028 over three years from the Oglesby Charitable Trust (the charitable arm of the Manchester property development company, Bruntwood) towards salaries for OMF’s Programmes Coordinator (0.4FTE) and Chief Executive (0.6FTE). In May 2022, the charity was contacted by the Matthew Nicholls Foundation about the possibility of donating a major gift. The Matthew Nicholls Foundation is small family charity created by Rob and Rachel Nicholls to commemorate their son, Matthew, a talented musician from Cheshire who tragically took his own life in 2017. Having been connected with OMF through Forsyth’s Music Shop (who had recently held a fundraiser for OMF), the Foundation were looking now to make a final ‘legacy’ grant to a local music charity before winding down their own organisation on what would have been Matthew’s 30[th] birthday. On 22[nd] July, after months of relationship-building and negotiations, the Matthew Nicholls Foundation confirmed that they would award OMF a grant of £80,000 to support the recruitment of a full-time Development Director, and part-time Programmes and Finance Administrator. A portion of this money was also ear-marked for the Chief Executive’s salary over the next three years which, combined with core funding from the Oglesby Charitable Trust, enabled OMF’s Chief Executive to receive her first ever salary from OMF in September 2022 after 7 years of being OMF’s only unpaid worker.

Other funding successes in 2022 include a grant of £49,728 from Arts Council England in March towards a month-long artist residency with 34 members of Migrant Voices (OMF’s network of migrant musicians living in Manchester, developed through an Emergency Response Grant from Arts Council England in 2020); as well as successful applications to the Garfield Weston Foundation, D’Oyly Carte Charitable Trust, and National Lottery Community Fund, amongst others. These grants were invaluable in stabilising the charity and giving OMF the breathing space to plan for the future. By September 2022, OMF had raised enough to not only recruit two new members of staff, but also to fully fund all of the OMF’s programmes for 12 months from September 2022 to August 2023 – the first time OMF had ever managed to raise a full year’s programme and core costs in advance, and a precedent we hope to maintain.

Alongside the fundraising and development work taking place internally, OMF teaching staff continued to deliver a large number of music projects including the Learn to Play instrumental scheme; SEND workshops; and our Children’s Voices, Youth Voices, and Voices of Hope choirs – all with their own termly concerts, social gatherings and (in the case of the children at St John Vianney SEND school) a video-performance project based on Maurice Sendak’s story ‘Where the Wild Things Are’, with original music created by participating pupils.

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In May, five musicians from Migrant Voices collaborated with art students from Manchester Metropolitan University as part of a multi-disciplinary module called Unit X, in which students from across the arts department to create artistic responses (films, illustrations, zines, sculptures etc) on a theme or stimulus from outside of the university. In June, 34 Migrant Voices musicians from 27 different countries took part in a month-long artist residency (funded by Arts Council England) culminating in a performance of 4 new musical works at Stoller Hall. 263 people attended the final performance (53 OMF families), and reported feeling ‘excited’, ‘inspired’, ‘joyful’, energised’ and ‘less broken’. Manchester Cultural Partnership tweeted “what an extraordinary concert! Migrant Voices led by @OlympiasMusic @StollerHall a beautiful expression of the creativity of our city’s musicians”. 925 attended a restaged performance at John Rylands. The project was subsequently shortlisted for the ‘Made in Manchester’ Prize at the Manchester Culture Awards 2022.

In July, our first Learn to Play student successfully sat and passed his Grade 2 cello exam, achieving a Merit.

In September, 40 additional children joined our Learn to Play programme, bringing the total number of children receiving weekly instrumental lessons to 85. We also took the decision to relocate Learn to Play from the 422 Community Hub to Dean Trust Ardwick school in Longsight. As part of a support in kind offer negotiated with the school, OMF agreed to provide free music lessons (singing, piano and violin) to a number of Dean Trust Ardwick students and start a new school choir, in exchange for use of the school’s classrooms in the evenings by OMF for Learn to Play. The partnership has been a great success and has saved OMF thousands of pounds in rent, as well deepening our relationship with local partners and our community in Longsight. During this year, we also successfully recruited a Programmes and Finance Administrator, who joined us in October, and Development Director, who joined us in January 2023 – funded by the Matthew Nicholls Foundation grant. We ended the year with our annual Christmas Concert at Longsight Library, which was attended by over 300 people comprising all 85 Learn to Play instrumentalists and their families and culminated in a Christmas feast of extra-large takeaway pizzas and halal mince pies.

As part of our annual monitoring and evaluation cycle, OMF publishes a yearly Impact Report based on data collected from individual interviews with all children, teachers, and parents involved in our Learn to Play programme. Over the course of 2022, OMF:

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Olympias Music Foundation

Quantitative data taken from interviews with children from our 2022 impact report also indicates that:

Children told us:

Parents have also commented on the positive impact of music on their children’s lives, reporting improvements at school and in social situations because of learning music:

As the OMF enters the next phase of its growth and development, we fully recognise the social, financial, and economic challenges facing both arts organisations and the third sector. We also recognise the importance of developing meaningful musical opportunities for diverse young people from low-income backgrounds, and a sustainable, long-term pathway for progression. Over the coming years, we look forward to continuing to work with new and existing members of the OMF team to nurture our community of young musicians and their families, and to grow our reach and impact in Manchester and the UK.

FINANCIAL REVIEW

Total income for the year was £180,333, consisting of £154,445 of grant income from funders including the Oglesby Charitable Trust, Maingot Charitable Trust, Kinder Charitable Trust and Matthew Nicholls Charitable Trust; £14,289 from contributed income including donations; and £11,599 from earned income. Current assets sat at £162,217 and in fixed tangible assets were £8,673. We are grateful to all funders and supporters for their kindness and generosity.

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Expenditure for the year was £164,634 and included teaching costs, instruments, venue hire and salaries for OMF’s Chief Executive; Development Manager; Programmes Coordinator; and Programmes and Finance Administrator.

By 31 December 2022, the balance of our unrestricted funds was £96,671, and the balance of our restricted funds was £7,283.

RISK REVIEW, FUNDS AND RESERVES POLICY

The Trustees regularly review OMF’s risk management systems, risk register and policies developed to mitigate the key risks identified by the Trustees. The key risks are considered to be:

The Trustees believe that these risks are minimised by holding regular meetings, the level of expertise on the board, monitoring of staff and development of policies. Key staff are child safeguarding trained. The Trustees are satisfied that there are sufficient procedures in place to mitigate these risks to an acceptable level.

The Trustees recognise the need for the association to establish and maintain reserves to enable it to continue to carry out its objectives. The Trustees aim to maintain unrestricted free reserves equivalent to three months running costs. Actual reserves as 31 December 2022 were £96,671.

TRUSTEES RESPONSIBILITIES

Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the charity and of its surplus or deficit for that year. In preparing those financial statements the Trustees have:

The Trustees are responsible for keeping records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the requirements of the Charity Commission. They are also responsible for safeguarding the assets of the charity and hence for taking steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 26[th] October 2023 and signed on their behalf by:

Rick Eling Chair of Trustees

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Olympias Music Foundation

Statement of financial activities for the year ended 31 December 2022

Notes Unrestricted Restricted 31.12.22 31.12.21
funds funds Total funds Total funds
£ £ £ £
Income from 1
Grant income 21,300 133,145 154,445 52,000
Earned income 4,844 6,755 11,599 3,860
Contributed income 14,289 - 14,289 10,844
Transfer from previous - - - 68,427
association
Total income 40,433 139,900 180,333 135,131
Expenditure on
Freelance teaching costs - 44,858 44,858 20,885
Salaries & overheads - 50,242 50,242 16,528
Instruments/maintenance - 1,698 1,698 1,618
costs
One-off events/projects 40 57,511 57,551 347
Other 1,480 8,805 10,285 7,498
Total expenditure 1,520 163,114 164,634 46,876
Net income/(expenditure) 38,913 (23,214) 15,699 88,255
Fund balances bought 57,758 30,497 88,255 -
forward
Fund balances carried 96,671 7,283 103,954 88,255
forward

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Olympias Music Foundation

Balance sheet as at 31 December 2022

Note Unrestricted Restricted 31.12.22 Total 31.12.21
s funds funds funds Total funds
£ £ £ £
Fixed assets
Tangible assets 5 5,096 3,577 8,673 7,952
Current assets
Cash at bank 91,955 70,262 162,217 84,493
Current Liabilities
Tax & social security costs - (5,180) (5,180) (509)
Deferred income - (54,191) (54,191) (3,350)
Other creditors (380) (7,185) (7,565) (331)
Net current assets 91,575 3,706 95,281 80,303
Total assets less current 96,671 7,283 103,954 88,255
liabilities
Net assets 96,671 7,283 103,954 88,255
Total funds 96,671 7,283 103,954 88,255

All amounts are derived from continuing operations and OMF has no recognised gains and losses other than those passing through the statement of financial activities.

The financial statements on pages 7 and 8 were approved by the Trustees at the Annual General Meeting and signed on 26[th] October 2023 on its behalf by:

Rick Eling Chair of Trustees

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Olympias Music Foundation

Notes to the financial statements for the year ended 31 December 2022

1 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below.

Basis of accounting

The accounts have been prepared on a going concern basis in accordance with the historical cost convention and comply with the Statement of Recommended Practice “Accounting and Reporting by Charities (FRS102)” (issued in 2015), the Charities Act 2011 and applicable accounting standards in the UK.

Fund accounting

General unrestricted funds are available at the discretion of the Trustees in furtherance of the general objectives of OMF. Designated funds are those set aside by the Trustees for specific purposes and may be released to general funds at their discretion.

Restricted funds are funds subject to specific restrictions and conditions imposed by funders or by the purpose of the grant. Details of the balances on restricted funds are given in the notes to the financial statements.

Donations, Grants and other income

Income, including donations, capital grants and revenue grants, is recognised in the accounting year in which it is receivable, except in the following circumstances, when the income is deferred and included in creditors:

Expenditure

Costs are defined as follows:

Freelance teaching costs – The costs associated with the teaching time associated with any of OMF’s charitable activities.

Salaries and overheads – The costs associated with employment of OMF staff and other administrative activity associated with performing OMF’s charitable activities.

Instruments/maintenance – The costs involved in purchasing and maintaining instruments required for the purpose of OMF’s charitable activities.

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One off events/projects – The costs involved in staging or executing one off performances or projects as part of any of OMF’s charitable activities.

Other – Other costs not covered by any other category of expenditure, and including depreciation.

Tangible fixed assets

OMF records musical instruments initially valued at £100 or more as tangible fixed assets. OMF records depreciation of tangible fixed assets in the form of musical instruments over a 10-year timeframe, resulting in an annual rate of depreciation of 10 per cent.

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Olympias Music Foundation

2 Reconciliation of movements in funds

For the year ended 31 December 2022

Opening funds 88,255
of which restricted 30,497
of which unrestricted 57,758
Receipts 180,333
of which restricted 139,900
of which unrestricted 40,433
Payments (164,634)
of which restricted (163,114)
of which unrestricted (1,520)
Closing funds 103,954
of which restricted 7,283
of which unrestricted 96,671

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Controlling and related parties

Olympias Music Foundation is controlled by six trustees, each of whom were appointed in accordance with the constitution.

4 Related party disclosures

Pursuant to ‘Condition A’ agreements, made under section 185 of the Charities Act 2011, Jo Yee Cheung was remunerated £10,424 for Chief Executive duties and £3,864 in artist fees as Creative Producer of Migrant Voices during the year. During the year OMF paid £250 of pension contributions in respect of Jo Yee Cheung

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

Nadia Eskandari, who is the daughter of Yana Eskandari, a Trustee of OMF, provided services to OMF in the role Violin and Viola Tutor and received income of £4,985 from OMF. At the end of the year, £539 was owed to Nadia Eskandari.

One trustee, Jo Yee Cheung, was reimbursed expenses incurred on behalf of OMF in the total sum of £2,151. Those expenses related to instrument purchases bought on behalf of OMF; food and drink

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for staff, volunteers, and participants in OMF’s charitable activities; and other costs incurred in connection with OMF’s charitable activities.

5 Tangible fixed assets

Instruments
£
Cost 8,288
At 1 January 2022 1,723
Additions
At 31 December 2022 10,011
Depreciation
At 1 January 2022 336
Charge for year 1,002
At 31 December 2022 2,218
Net book value
At 31 December 2022 8,673
At 31 December 2021 7,952

No tangible fixed assets were donated in the 2022 financial year between 1 January and 31 December 2022.

6 Total staff costs and employee benefits

Within the reporting year, OMF employed an average of three staff (2021: zero), consisting of two part-time members of staff from January to August 2022; and one full-time and three part-time members of staff from September to December 2022. Total staff costs and employee benefits were as follows:

No employee received total employee benefits of more than £60,000.

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Independent examiner’s report to the trustees of the Olympias Music Foundation

I report to the trustees on my examination of the accounts of the Olympias Music Foundation (‘the CIO’) for the period ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the CIO as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Name: William Allen Relevant professional qualification: ACA Address: 49 Michael Road, London, E11 3DY Date: 31 October 2023

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