OPUS MUSIC COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07900221 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

OPUS MUSIC COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

OPUS MUSIC COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The company's principal activity during the year continued to be the delivery and training for music-making in a variety of healthcare and social care settings.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

N Cutts
N J S Wilds
J Cutts
F L Watt


The director shown below has held office during the period of
12 December 2023 to 31 March 2024

J M Schneider


The director shown below has held office during the period of
30 June 2023 to 31 March 2024

S R Gilby


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
4 December 2024

And signed on behalf of the board by:
Name: N Cutts
Status: Director

OPUS MUSIC COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2024

2024 8 months to 31 March 2023


£

£
Turnover: 222,411 62,062
Cost of sales: ( 125,601 ) ( 60,272 )
Gross profit(or loss): 96,810 1,790
Administrative expenses: ( 91,465 ) ( 5,705 )
Operating profit(or loss): 5,345 (3,915)
Interest receivable and similar income: 728 43
Profit(or loss) before tax: 6,073 (3,872)
Profit(or loss) for the financial year: 6,073 (3,872)

OPUS MUSIC COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 2024 8 months to 31 March 2023


£

£
Fixed assets
Tangible assets: 3 4,707 6,711
Total fixed assets: 4,707 6,711
Current assets
Debtors: 4 3,900 6,063
Cash at bank and in hand: 85,458 39,419
Total current assets: 89,358 45,482
Creditors: amounts falling due within one year: 5 ( 53,403 ) ( 17,604 )
Net current assets (liabilities): 35,955 27,878
Total assets less current liabilities: 40,662 34,589
Total net assets (liabilities): 40,662 34,589
Members' funds
Profit and loss account: 40,662 34,589
Total members' funds: 40,662 34,589

The notes form part of these financial statements

OPUS MUSIC COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 4 December 2024
and signed on behalf of the board by:

Name: N Cutts
Status: Director

The notes form part of these financial statements

OPUS MUSIC COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixture, fittings, and equipment (Pre 2023) over 4 years Fixture, fittings, and equipment (Post 2023) over 3 years

OPUS MUSIC COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 8 months to 31 March 2023
    Average number of employees during the period 1 0

OPUS MUSIC COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 14,562 14,562
Additions 1,868 1,868
Disposals
Revaluations
Transfers
At 31 March 2024 16,430 16,430
Depreciation
At 1 April 2023 7,851 7,851
Charge for year 3,872 3,872
On disposals
Other adjustments
At 31 March 2024 11,723 11,723
Net book value
At 31 March 2024 4,707 4,707
At 31 March 2023 6,711 6,711

OPUS MUSIC COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 8 months to 31 March 2023
£ £
Trade debtors 3,625 5,930
Other debtors 275 133
Total 3,900 6,063

OPUS MUSIC COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 8 months to 31 March 2023
£ £
Trade creditors 15,314 0
Taxation and social security 725 0
Other creditors 37,364 17,604
Total 53,403 17,604

COMMUNITY INTEREST ANNUAL REPORT

OPUS MUSIC COMMUNITY INTEREST COMPANY

Company Number: 07900221 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

OPUS Music CIC has continued to deliver music-making practice in a variety of health, social care and community settings. Through funding obtained from Arts Council England, Youth Music and others, the CIC continues to develop and support programmes of training for musicians and health and care professionals. The CIC continues to improve the health and care environments in which it operates to the benefit of the health and wellbeing of patients, their visitors, carers and health and staff. The CIC increasingly partners with numerous other organisations with similar goals, ensuring maximum reach and efficiency.

Consultation with stakeholders

The company’s stakeholders are members of the communities in which it works, patients, their carers and visitors and health and care staff, alongside the many people reached through its training programmes. The CIC is committed to Co-Design and Co-Production of programmes of practice wherever possible, ensuring mutual benefits are realised for all stakeholders. The CIC strategically develops its programmes in consultation with its main funder, Arts Council England through its position with their National Portfolio, alongside other National and Local stakeholders including the Culture, Health and Wellbeing Alliance, the National Centre for Creative Health, the Derby and Derbyshire Integrated Care Board VCSE Alliance, Sherwood Forest Hospitals Foundation Trust and the Bolsover District Council Tourism and Place Partnership

Directors' remuneration

N Cutts a director has become an employee of the company. Last year he provided services to the company as a musician which were invoiced by his existing business. The value of the services provided in the prior year was £14,825.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 December 2024

And signed on behalf of the board by:
Name: N Cutts
Status: Director