2025-08-31-accounts - The Orchestra Of The Swan

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Charity Registration Number: 1068570 Company Registration Number: 03458051

orchestraoftheswan.org

==> picture [463 x 42] intentionally omitted <==

----- Start of picture text -----
2 Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025
/ j : i 4 ¥ \ : 4 % \
----- End of picture text -----

Index to Annual Report and Financial Statements

31 August 2025

Page Report of Strategy and Activity 5 - 25 Trustees and O ffi cers 26 Trustees’ Report 27 - 29 Independent Examiner’s Report 30 - 31 Statement of Financial Activities Including Income and Expenditure Account 32 Statement of Financial Position 33 - 34 Accounting Policies 35 - 36 Notes to the Accounts 37 - 40

Cover Photograph: Eugene Mclaughlin Pictured Left: James Northcott

orchestraoftheswan.org

4 Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Report of Strategy and Activity for the year ending 31 August 2025

2024-2025 was Orchestra of the Swan’s 29th season. Our steady shift in programming focus towards cross-genre ensemble work continued this season, driven by our desire to better re fl ect the shifting cultural landscape – the rise of the internet and music streaming, which has fundamentally changed how people discover and engage with music, broadening their taste and expectation. Our Artistic Director David Le Page’s response over the last few years, has been to honour our timeless classical works by placing them in fresh, dynamic contexts – programming them alongside not only contemporary classical, but reimagined arrangements from adjacent genres such as pop, rock, folk, jazz and electronica. Central to this new direction has been his desire to dismantle the Victorian-era rituals surrounding classical concerts – the sense of exclusivity, the notion that one must possess specialised knowledge to participate. Le Page fi rmly believes that no prior knowledge or experience of classical music is necessary to enjoy it. This approach has been exempli fi ed this season, creating an inclusive, vibrant concert experience, rede fi ning what it means to attend a classical concert in the 21st century – open, accessible and deeply connected to the cultural heartbeat of our time.

Our main orchestral residencies in Warwick, in Stratford-upon-Avon and at the Hereford Courtyard continued this season, but by January 2025 we had witnessed the closure of the Stratford Playhouse (for the 2nd time in 9 years) requiring the relocation of one Spring concert and the cancellation of another, and the announcement of the cessation of orchestral concerts at the Courtyard, driven predominantly by economic circumstances. Just three of eleven concerts that took place in these towns featured a conductor and soloist and an ensemble of more than twelve players, all of which took place in Warwick Hall: Stories & Dreams (conducted by Rebecca Miller, with guest narrator Anton Lesser and 23 players), Elements (conducted by Rebecca Miller, with guest soloists Tim Whitehead and David Gordon, featuring 24 players) and Interstellar (conducted by Bruce O’Neil, with Anton Lesser and 24 players). As with last season, David Le Page recognised the opportunity to perform arrangements of symphonic works for chamber orchestra, carefully positioned this season alongside fi lm and contemporary soundtracks - works which would otherwise not be heard in the Midlands beyond the con fi nes of Symphony Hall: Rimsky Korsakov Scheherazade (arr. Fradiani) performed alongside Herrmann Psycho ; Grieg Peer Gynt Suite (arr. Fradiani) and Debussy La Mer (arr. Farrington) alongside a new commission by jazz artists Tim Whitehead and David Gordon; and Holst Planets (arr. Moreton) alongside Hans Zimmer Interstellar . Warwick rehearsals were open to visiting schools, with 151 pupils attending from seven schools.

In our third full year at our Warwick base, we welcomed 1,830 audience members to fi ve concerts in Warwick Hall and St Mary’s Church (81% capacity), while our three concerts at the Hereford Courtyard achieved 77% capacity (962). By contrast, our three Stratford concerts dropped to 37% capacity due to uncertainty around the venue.

This season showed a marked increase in our ‘Words & Music’ touring output in partnership with

orchestraoftheswan.org 5

theatre producers Hambletts Productions with 30 shows performed across the country fronted by leading actors to a 9,874 audience. These included our established show Red Sky at Sunrise (based around the autobiographical writings of Laurie Lee, interwoven with a carefully curated musical score by David Le Page fronted by leading actors Anton Lesser and Charlie Hamblett), which was performed on eleven occasions from London to Buxton; alongside a further four newly created shows:

A Beautiful Thread celebrates Thomas Hardy in his own words, poetry and novels with a script devised by Deirdre Shields, and a musical programme arranged by David le Page that combines West Gallery Music from the village churches of the 1840’s with Holst, Finzi and contemporary folk. Premiered at the Hereford Courtyard in September 2024, this show was performed on nine further occasions narrated by actors Anton Lesser and Lucia Bonbright;in Warwick, Longborough, at Stonehenge, Stinsford, Malvern Theatres, Painswick Rococo Gardens and Mercury Colchester.
GEORGE – celebrates the life of George Eliot with a script by Deirdre Shields interwoven with music arranged by David Le Page of contemporary singer-songwriters from Kate Bush to Florence Welch featuring the Eurovision singer SuRie. Premiered at St Mary’s Guildhall, Coventry in November 2024, GEORGE was performed a further six times at Wilton’s Music Hall, Oxford Playhouse, Belgrade Coventry, Salisbury and Beam Hertford fronted by actors Dame Harriet Walter, Hermione Norris and Sally Phillips.
A Christmas Carol , with a script extracted from Dicken’s novel and a curated musical score by Le Page, performed at the Sheldonian, Oxford narrated by Anton Lesser.
Winter Solstice was our Christmas show at the Malvern Theatres narrated by actor Sunny Ormonde with a script devised by producer Judy Reaves supported by a seasonal musical score compiled by David Le Page.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Huge thanks go to Hambletts Productions for their determination and drive to place these shows in theatres across the country.

Critical Reviews:

“It is extraordinary how complete Lee’s story and character feels, in such short moments. But each is amplified by the music between…the orchestral arrangements by Le Page – from Vaughan Williams to Rossini and Britten – are careful, fitting every moment….Altogether it’s a lovely thing. If you can catch it, do”

Libby Purves, theatreCat on Red Sky at Wilton’s

"So engrossing, entertaining, and intelligently put together, this production was, like both Eliot and the English language themselves, a brilliant creation that was greater than the sum of its parts."

Chris Parkinson-Brown, Salisbury Journal reviewing GEORGE

".. the most beautiful & sublime performance last night. The words & the music were in such harmony in terms of the emotions & the story. What an outstanding voice SuRie has and Sally … can convey pathos brilliantly. A simple glance or expression from her conveys so much. She and SuRie were just wonderful together and the whole concept was outstanding” Peter Ferguson ( GEORGE BEAM)

“Quite simply, it's the best thing I have ever done" Anton Lesser

orchestraoftheswan.org

" George Eliot is an inspiration and I loved being part of your beautiful production, thank you!" Hermione Norris

"Thank you so much. It's my favourite thing to do on this planet!" SuRie

Sample audience response from GEORGE, Salisbury, June 6th

“The quality of the Ensemble and Singing were mind-blowing!”

“If I could give it 10/5 I would! This was an absolutely wonderful show; a deceptively simple presentation, involving such creativity and top-notch performances, which made for an absorbing, entrancing and v. moving experience.”

Our Digital Impact

The 2024-2025 season saw a satisfying increase from 13.4 million audio streams to 17.5 million following the release of our 6th cross-genre album Light & Shadow in June 2025, preceded by three singles. This album includes 12 fi lm tracks arranged by David Le Page – including American Beauty (Thomas Newman), Chi Mai (Morricone), Miserlou (trad), Truman Sleeps (Philip Glass), Exit Music for a Film (Radiohead), Twin Peaks Theme (Badalamenti), Solsbury Hill (Peter Gabriel), and Merry Christmas Mr. Lawrence (Sakamoto); consciously moving away from notions of ‘epic’ fi lms and instead exploring intimacy, closeups and the subtle textures of a chamber ensemble. On release, the album was Magic Classical’s ‘Album of the Week’ and it featured on the BBC Radio 3 Breakfast show . American Beauty alone has generated 1.11 million streams at the time of writing this report (October 2025).

“Orchestra of the Swan AD David Le Page can always be relied upon to throw new light on music we thought we knew and to create revealing juxtapositions between works on their albums….” Gramophone

The 24/25 season saw a disappointing 3% rise in our social media following, but a signi fi cant improvement in regional media coverage, with 115 regional and 16 national pieces (including BBC Radio 4 Woman’s Hour , BBC Radio 3 In Tune , The Stage, The Guardian and Gramophone), compared to 76 regional and 24 national the previous season. All national pieces focused on our Words & Music productions apart from Gramophone & BBC ‘Breakfast’.

New in 24/25 was the release of the fi rst two episodes in our Swan podcast series, produced by Martin Head of Cloudscape Media who very generously provided his expertise for free. The series o ff ers an exclusive behind-the-scenes look, shining the spotlight on our players and the team who bring the Swan to life, whilst providing exclusive rehearsal sneak peaks.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

The Orchestra of the Swan podcast o ff ers an exclusive behind-the-scenes look as we shine a spotlight on our incredible players, supporters, and the team who bring the Orchestra of the Swan to life.

Our Work in the Community

The need we are addressing through our activity:

The lack of opportunity for young people to engage with orchestral repertoire and instruments due to the relegation of music to an ‘optional extra’ in the National Curriculum after KS1 and 2; resulting in reduced prioritisation and funding to support the next generation of orchestral instrumentalists.
The loneliness and isolation felt by people living with dementia, visual impairment, special needs and complex disabilities (including their family and carers) providing them with the opportunity to interact and engage with orchestral music and musicians, improving their wellbeing and prospects.

9 O

orchestraoftheswan.org

Between September 2024 and August 2025, we delivered 290 half day workshops reaching 10,001 participants, making a signi fi cant impact on their understanding and appreciation of orchestral music.

Our work for people living with complex disabilities

and for children with special needs

Accessible music-led workshops were delivered by Swan players in Birmingham and Warwick at Priestley Smith Specialist School for the visually impaired, at Sense TouchBase Pears (a centre that specialises in working with people with multi-sensory disabilities particularly the Deafblind), at Fox Hollies SEN School, Hallmoor SEN School, Evergreen SEN School, and at Acorns Children’s Hospice.

Priestley Smith School for the Visually Impaired

Following an initial inspirational concert to the full school on May 1st 2025 alongside 360 pupils from neighbouring Beeches Junior and Infant School, nine full day workshops took place across nine weeks, with fi ve sessions per day reaching 72 visually impaired children per day, culminating in a shared concert on July 10th 2025 of pieces prepared over the workshop sessions.

Themed around Stories & Dreams and Interstella r, pupils created songs around their dream jobs (including becoming an astronaut!) supported by tactile graphic scores to ‘write down’ the music using sensory aids. Working towards a fi nal performance was key to this project as over ‘1/3rd of disabled music-makers feel there are no suitable performance opportunities available to them when surveyed’ (Youth Music).

Sense TouchBase Pears community Café

This season we delivered 22 forty- fi ve-minute community cafés with 283 participants, with two back-to-back sessions per month, one for early years children, and one for adults who access Sense day or residential services.

There was a lovely atmosphere in both sessions - everyone was really engaged and enjoyed the music. Esme was beside herself when we played Disney Princess music for her. At one point, everyone who was able, were up on their feet with their carers dancing to the different jigs and dancing tunes - it was great to see. They were also keen to use their arms for YMCA - it was great fun. All the carers were supportive, as was Charlotte (from the Conservatoire) who thoroughly enjoyed the session and was able to make lots of notes for her major project. Michael's Mum joined us at the front to sing 'Make me a Channel of your Peace" which was lovely. A boy has just started to track movement with his eyes. Amy saw him tracking the flute in some of the songs when I had the tune. It was special to see that. Diane Clark, Flute Nov’2024

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

SEN schools

Four half-day workshops were delivered to Fox Hollies pupils with 141 participants as part of our partnership with Sense TouchBase Pears; six sessions took place at Evergreen School in Warwick involving 36 primary pupils per session; and a pilot workshop day was delivered to 80 pupils at Hallmoor School in Birmingham.

“The session went down amazingly well, thank you…and feedback was great from everyone involved. Class 1 loved the music. They recognised most of the songs that were played and really enjoyed dancing and moving their scarves to the music. Not all of them followed the story but they clearly enjoyed the music by smiling and interacting with the musicians. Class 2: Pupil engagement was really good; enjoyment was high with lots of smiling and engagement.”

Mark Williams, Fox Hollies staff 27.11.24

“Students were fantastic, it started off very noisy but became completely quiet when the music started. The players were great at bringing up the energy but also bringing it back down again. Staff said they had never heard them sit still and listen like this before. One student even laid down and closed his eyes after running around the space at first. Some students found the noise too much, so it was stripped back to just the harp, and students were invited to put their hands on Claire’s double bass to feel the vibrations. More energetic pupils were encouraged to get up and dance. It was honestly amazing! Jodie (head of Primary) and their head (Nicky) loved the sessions and were so eager to share with the rest of the Trust. It is not often that the senior leadership team come down and introduce themselves!”

Megan Matthews, Head of Community Engagement, attending Hallmoor School

"Swan class really enjoyed their sessions with Orchestra of the Swan. The musicians were

orchestraoftheswan.org

incredibly friendly and understanding of our pupils' needs, allowing them to explore their instruments in a relaxed and supportive environment. By the end of the sessions, even pupils who were initially hesitant or less engaged became excited to try different instruments and fully participate…. We feel very lucky to be able to work with you and enhance the learning opportunities for our students.” Teacher at Evergreen School

Acorns Children’s Hospice

Eight half day workshops took place at the hospice in Birmingham for terminally ill children receiving respite or end of life care, reaching 78 participants.

“I just wanted to say a massive thank you for the two musicians that came and spent the afternoon with some of our children and families. It was such a lovely experience, the joy and relaxation it brought to our children. We really do appreciate it and would love you to visit again.”

Sept’2024, Charlotte Denny, Acorns Children’s Hospice Staff

“I just wanted to send my thanks again to you for your support of our annual Lights Switch on last night. The harpist was so wonderful, and her music truly added to the magic of the evening – the children and families loved it! Please pass on our thanks.” Janine & everyone at Acorns

==> picture [7 x 17] intentionally omitted <==

----- Start of picture text -----
he
----- End of picture text -----

Able Pioneers, Nottingham

An improvisatory project ‘Unlocked’ took place in partnership with Inspire Youth Arts and Orchestras Live, with two Swan players working with six independent disabled young people who form the Able Pioneers over three workshop days, culminating in a performance at the Nottingham Contemporary on 1st April 2025.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

All participants work with Kris and Nicci Halpin of Dyskinetic to create music digitally using a CMPSR (a digital music controller resembling a joystick, designed to make music creation accessible to everyone). Music is activated through the joystick and buttons on their wheelchairs for controlling parameters like sustain, octave etc which connects to music software and apps on an ipad or laptop, enabling them to participate in a live and improvised performance.

“Thank you Orchestras Live, for supporting the connections and making this possible with Orchestra of the Swan. I could see how much the young people got out of working with the musicians and working to combine different genres to make a truly wonderful performance.” Rebecca Streets, Inspire Youth Arts Manager

==> picture [14 x 29] intentionally omitted <==

----- Start of picture text -----
|
----- End of picture text -----

Our work in the community for people living with dementia – Music Cares

Café Muse

Set up in August 2021 and free to attend, Café Muse is a participative and themed music café (including a free lunch) taking place in Stratford-upon-Avon and Hereford. Sessions are led by up to three Swan instrumentalists trained by music therapy charity Mindsong to deliver workshops that are bene fi cial to people living independently with dementia; a pioneering model, now enjoying up to thirty participants per session plus volunteers and players. With twenty seven Swan instrumentalists now trained to deliver these workshops, this season saw delivery of forty three Cafés in Hereford reaching 962 participants and eleven cafés in Stratford reaching 244 participants.

Café Muse aims to increase engagement in musical activities, improve mental wellbeing and improve both relationships and social engagement for people living with dementia. Participants are learning musical instruments, expanding their support networks through socialising and shared activity, boosting self-con fi dence and developing new friendships, with carers given the option to join in with activities, socialise with other carers or take respite for their own health and wellbeing needs.

orchestraoftheswan.org 13 OO

Café Muse Hereford is aimed speci fi cally at the Armed Forces community. The range of additional support needs identi fi ed within this group over and above dementia, include mental health issues, social isolation and loneliness, including food poverty, reduced emotional wellbeing and a need for emotional support. Café Muse supports these needs by providing a friendly, safe space, where participants can improve their emotional wellbeing and feel valued through our co-created musical workshops.

Café Muse Stratford is aimed more generally at people living locally with dementia.

“Dad loved the Wednesday Café Muse sessions. Music was such a big part of his life. He really came to life especially with some of the old songs from way back and anything Scottish! We have so many lovely little video clips of him singing, playing his ‘moothie’ (mouth organ), tapping his feet and clapping to the music. It is a very special session and a lifeline for those whose health is failing, and for their relatives.”

December 2024, Bereaved family of Hereford participant

A participant (whose wife recently passed) said

“When she got her diagnosis, we felt so alone and scared. When we started coming to Café Muse, I couldn't believe it! That people of your calibre would come and play like this, it's wonderful. I can relax and talk to people who are experiencing similar things.” Hereford Participant, Jan’25

"Café Muse has been such a life saver, when my daughter was diagnosed with Alzheimer’s at a very early age. To be able to come and relax, and to meet such lovely people in similar situations, and be able to chat, and be provided with drinks and food by kind people meant so much to us. As I am now in my 80’s with memory problems, it’s a place where I can be myself, and enjoy the wonderful music." Stratford Participant May’2025

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

“We attended our first Cafe Muse session a year and a half ago …it was so well attended that extra chairs were brought in to accommodate the numbers of people attending. We were welcomed in such a friendly manner. The music was fantastic and created such a positive atmosphere, so the response was impressively positive and happy. We continue to be impressed by the quality of the dedicated musicians and volunteers who make this such a worthwhile and happy event each month. We have made some friends because of these monthly meetings and know that it has a positive effect on the partners we care for. The programme is well planned with seasonal themes, and it is a pleasure to see that clients are included to demonstrate their musical talents, as several have been in bands in their previous lives or play a musical instrument! I recommend the sessions to everyone I have met who may benefit from the musical input since my husband was diagnosed with early-stage Dementia. Well done to the team! Stratford Participant May’2025

“I love coming to support Café Muse as a volunteer. It’s such a positive and uplifting experience on many levels and provides a unique opportunity for those with dementia and their carers/family to share their experiences in a safe environment. The musicians are so welcoming and encourage participation through a range of different musical genres. It’s so lovely that refreshments are included and this helps people to feel valued, so overall they look forward to attending.”

Carol Draper, Stratford volunteer

Case Study - Maria Boyle (16th June 2025) Hereford Café Muse Participant

1. How long have you been coming to Cafe Muse?

I started to bring my dad to it around four years ago. I was working fulltime back then so I could only come now and then, but my husband (Ron) accompanied Dad when I wasn't able to. I retired just over a year and a half ago and have been coming regularly since then. Sadly, Dad passed away in November last year (2024), but Ron and I have continued to come to Cafe Muse as we really enjoy it.

2. What made you decide to come along?

It was primarily because of Dad. He loved music and as he got older, he became more and more weary and felt quite ill and low mentally. We could all see the change in him when he came to Cafe Muse . He would brighten up and the music and company really lifted his spirits. He would look forward to it each week and I think the range of music invoked lots of lovely memories for him.

He was very accomplished on the mouth organ (completely self-taught) and it was great when the musicians encouraged him to play for the group. He also had a great tenor voice, and he liked to sing along to the old songs from way back. His spirits were always lifted after a session

orchestraoftheswan.org

which made caring for him just that little bit easier.

3. What made you continue coming for as long as you have?

Since coming to Cafe Muse with Dad, Ron and I feel that we have made new friends with the other regulars and with the brilliant musicians who always make everyone feel so welcome. It now feels that we are going to a lovely social gathering with friends each week. It is very humbling to see those who are su ff ering from various illnesses and makes you really appreciate what you have in terms of health.

What can you tell us about the experience of being a part of Cafe Muse and the impact it has had on you and your family?

Retiring after having a really 'full-on' job was quite scary as I felt I had lost my purpose and value to society. Cafe Muse gives us some structure - sounds odd but getting used to not having to rush around all day has been di ffi cult. It is really important to continue to socialise and have structure in your day. I also wanted to learn something new to keep my brain going (!) and get out of my comfort zone. Through Cafe Muse (and Di Clark speci fi cally) I have had lots of encouragement, support and help to learn the ukulele. Di and I learned together last year. We sent each other little clips of progress etc. This was so bene fi cial in terms of support - I don't read music and had never tried to play any instrument before - and having targets to meet made sure that I practised to be ready to 'perform'! I really enjoyed it. It's such a tonic to learn to play songs and to contribute to the group. We are now learning to play the guitar, so I am now on another brilliant journey with Di. It's challenging (and I can get really annoyed and frustrated with myself at times) but having Di's support just keeps me going and she makes everything so much fun. In summary, being part of Cafe Muse has and continues to have such a positive impact on us through friendships, support and continuous learning all of which are proven to have signi fi cantly positive impacts on mental and physical health and wellbeing.

5. What do you enjoy most about Cafe Muse?

The interaction with everyone. It's like a big family and everyone is so friendly and supportive.

6. Any other comments/stories/experiences that you particularly cherish?

The musicians are brilliant, and they always seem to know when it is someone's birthday etc and will make a fuss of the person - it's so lovely. I will cherish the little video clips I have of Dad clapping and singing along to the music. I also have a lovely clip of Di playing Danny Boy to Dad on the fl ute - it still makes me cry.

Cafe Muse is a safe place - you can be yourself. It also allows carers to relax for a short time and to interact with others who are facing similar challenges caring for loved ones. It's like a release of pressure.

I cannot praise the musicians enough. They are so thoughtful with their choice of music, they make it fun and they encourage any budding talent (or otherwise!) to take part. And they are of course such a brilliantly talented bunch!

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Care Home Delivery

This season, between November 2024 and July 2025, we delivered 44 half day workshops in eighteen care homes, reaching 745 participants:

In Birmingham - fourteen sessions at fi ve care homes reaching 228 participants (Aran Court, Edgbaston Barchester Beaumont, The Limes, Lucton House and Crofton Park Manor);

In Stratford-upon-Avon - eighteen-half day sessions at four care homes bene fi tting 306 participants (Cedar Lodge, The Limes, Scholars Mews and Canning Court);

In Herefordshire & Worcestershire - twelve half day sessions at nine Care homes reaching 211 participants (Hawthorns, Cedar Lodge, Perry Manor, Woodland View, Heathlands, Norton Hall, Holmer Court, West Easton and Belmont Care Home).

At each session, pairs of players performed live music, engaged with participants and their families and carers, and played requests from multiple genres including classical, folk, jazz, rock and roll. Participants were encouraged to clap, hum, sing or accompany our players on untuned percussion. Sessions took place in a communal room, giving residents a choice to participate. For residents who were less mobile or at an advanced stage of dementia, players visited individual rooms, to ensure all were included. These activities help with slowing the decline in cognitive function and reducing social isolation, which then further impacts indirectly on the wellbeing of carers and family members.

“The staff were really surprised at how engaged a couple of the residents were, she had not seen them like that before. They were laughing, talking, singing, she was thrilled. We also visited three residents in their rooms, which was really beautiful” Nov’ 2024, The Limes, Diane Clark (Flute)

“When we started playing and singing, they immediately engaged and started smiling. They grew in confidence and sang more and more very quickly. Several spontaneously joined in

orchestraoftheswan.org

with dancing in the chairs - really going for it! There were the most fantastic smiley faces.” Mar’2025, Lucton House, Sally Harrop (Clarinet)

“The Orchestra of the Swan are highly valued visitors to The Limes. All our residents have some form of dementia - some more advanced than others - but everyone enjoys the music and singing during the visits. It's especially lovely the ladies go into the rooms where the residents are bed bound and interact with these residents as well. Any visit is much appreciated by all who attend, including some family members, and we sincerely hope Orchestra of the Swan continue to support our residents going forward in the future. Many thanks for continuing to visit and engage with our residents.” Carol at The Limes

==> picture [33 x 22] intentionally omitted <==

----- Start of picture text -----
jaa
----- End of picture text -----

Our work in regional Primary and Secondary schools

Our hugely important partnership with the Warwick Schools Foundation entered its fourth year this season, with an added urgency attached due to the parlous state of music education in regional state schools and the endemic lack of exposure to orchestral music and instruments that comes from a lack of government funding and investment.

This season we engaged 2,800 pupils across Warwickshire through our various activities. Alongside our 4 mainstream concerts (including a side-by-side performance of Elements, a new commission by David Gordon and Tim Whitehead, performed by twenty three Foundation pupils) supported by open rehearsals (attended by 151 school children), we delivered three conducting workshops for Foundation pupils and a WOW! day to inspire 331 Year 7 Foundation instrumental beginners.

In addition, we focussed on delivering a series of 16 workshops at eight Warwick Primary schools, reaching 2,792 primary school pupils, culminating in a ‘Come & Play Day’, where 66 participating

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

children had a chance to perform together to family and friends.

“I wanted to say a huge thank you for arranging for the musicians from the Swan to come into Newburgh yesterday. It was absolutely amazing to watch these wonderful, talented people working with our pupils. The first session allowed six lucky pupils to work in a small string ensemble - something that they have not had the opportunity to do before. To begin, I could see that a few of them were quite nervous but their confidence soon grew and after the final piece you could visibly see how proud they were! The assembly was a real treat for our KS2 children, and to me, it was interesting to watch how the musicians interacted with the children and adapted their ideas as the session grew. Again, it was something that was completely new for many of our children. Most had probably never seen a harp or understood how the sound of the double bass is used in a piece of music or heard the violin being played so beautifully. The main message was that they made music feel fun and full of emotion. Our final session was the group composition and performance with over 30 children who are all currently learning to play an instrument. This was wonderful; we just needed more time! Thank you and see you all again in March for KS1 - what a treat they have in store!”

Sarah Franklin, Newburgh Primary School

Herefordshire Schools

16 workshops took place in seven Herefordshire schools during Autumn 2024 engaging 299 participants – at Bosbury Primary School, Ashperton Primary Academy, Cradley Primary, Barrs Court, The Beacon College, West fi eld School and the Hereford Pupil Referral Service.

“This was a joyous, uplifting, exciting project that grabbed the children's attention. We all loved it and want the three musicians to come back and work with us again! I have never seen the class teachers quite so excited about a music project before, so this really did have an e ff ect on the whole school…..Better than the London Sinfonietta who visited a few weeks ago! Thank you.”

Sue Walker, Bosbury Primary

Swan Youth Orchestra

SYO aims to nurture young talent, shape brighter futures and instil a lifelong passion for orchestral music, cultivating the next generation of orchestral musicians and orchestral audiences, enabling children to fl ourish through learning and playing music together, empowering them creatively and supporting their development and ambition.

Two intensive weekend courses took place this academic year (in October 2024 and February 2025) in partnership with Heart of England Music and the Warwick Schools Foundation, led by conductor Rebecca Miller, comprising improvisation workshops, instrument-speci fi c tuition sessions with fourteen professional Swan musicians, sectional rehearsals, full orchestral rehearsals

orchestraoftheswan.org

and a celebratory end-of-course public performance. Participants worked side-by-side with our professional players, gaining insight and experience in a professional orchestral setting.

Outcomes:

Improved Musicianship: participants enhanced their musical skills by working closely with professional Swan musicians and regional hub sta ff . Key skills developed included listening (playing with other instruments, understanding how they fi t into the orchestra), technique (preparation, improvisation, breathing) and performance (stage presence, physicality and emotional engagement).
Developing future life skills: participation developed individuals’ con fi dence, sense of teamwork, listening and communication skills by taking ownership and personal responsibility for their musical contribution, which can be applied to multiple scenarios in a working environment.

October 2024 Course:

The course welcomed 60 x 11–18-year-olds from 33 schools, of whom 51 had attended the prior course in February 2024 demonstrating sustained engagement, and an environment where participants were building friendships with peers and mentors. Of the 60 participants, 20 were from eight private schools, 38 from 25 state schools and two were home-schooled. Participants learned and performed:

Buffalo Jump by Philip Sheppard, (from our album Echoes arranged by David Le Page)
Medley from Star Wars arranged by Jerry Brubaker
Two movements from Petite Suite de Concert by Sameul Coleridge Taylor
Mars & Jupiter from The Planets by Holst

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

“I’ve learnt that we are changing the world and making it a better place” Clarinet, King Edward VI School, October 2024

“I’ve learnt to listen properly to the rest of the orchestra, as well as just my section” French Horn, Tudor Grange Academy, October 2024

“She loved the repertoire, which was challenging but rewarding to play. The whole atmosphere is very friendly and the balance between working really hard but also having fun is really well struck. The quality of mentoring and conducting is of the highest standard. She also loves playing with other good players. The extra touches like the hoodies and all eating dinner together also add to the experience. Great to have such an inspirational, passionate female conductor!”

Tom Pocock, October 2024

February 2025 weekend course

The February course welcomed 60 x 11–18-year-olds, of whom 16 were from eight private schools, 42 from 22 state schools and two were home-schooled. 34 participants received a 50% bursary as members of regional music ensembles. Participants learnt and performed a programme curated by Rebecca Miller, themed around dance:

Danzón No. 2 by Arturo Márquez
Tango Jalousie by Jacob Gade
FAIYA! by Ayanna Witter-Johnson
Waltz from Masquerade Suite by Aram Khachaturian
S lavonic Dance No.2, Op.72 by Antonín Dvo ř ák
Annen-Polka Op.117 by Johann Strauss II

“I enjoyed playing great music and learning from great artists. I learnt to always listen, and that everyone in the orchestra is important” Violin, Age 14, King Edward VI School

“It was nice getting to play in such a big orchestra, I also got to meet a lot of likeminded new people, as sometimes in schools it feels like playing orchestral music is not the ‘cool’ thing to do. We don't get to play in an orchestra of this level normally and the concert at the end gave me a taste of what it’s like to play in an orchestra where everyone is passionate about the music.”

Clarinet, Age 13, Stratford Grammar,

“I enjoyed being with friends, good music, great opportunity and great inspiration and advice. I learnt to play con fi dently, and that the rest will work out. I liked the theme of dance.” Clarinet, Age 16, Princethorpe College

orchestraoftheswan.org

“I enjoyed meeting other people who play the same instrument as me. I thought the whole thing was inspiring.”

Bassoon, Age 16, King Edward VI Camp Hill

“I enjoyed the tutors and their advice, and reconnecting with friends. I learnt to be aware of what is going on around you.”

Trumpet, Age 17, Stafford Grammar

“I learnt that you can’t make a mistake in improvisation.” French Horn, Age 11, Oak Cottage School

Overall, feedback indicated that the repertoire was at the right di ffi culty level, covered a variety of styles and was interesting to play. Some participants expressed that they would like to do a longer/bigger piece rather than more shorter pieces, and many suggested playing some fi lm music.

“A great course and fantastic programme over the weekend. It was such a pleasure to be able to work with the students on Saturday and then to hear the Orchestra’s perform so well on Sunday. The orchestra and our partnership continue to go from strength to strength!” Richard Hart, Delivery Lead Warwickshire Music Hub, Strategic Lead, Schools & Progression Heart of England Music

Our work in tertiary education

A composition project at Coventry University entitled Mix Up’25 involving fi fteen students and three Swan players took place over three days in Feb’25, with Swan players working with song-writing students to compose instrumental parts and record and fi lm six songs written by fi ve students on the Popular Music Songwriting and Composition course. Some students had already fully notated instrumental parts, but others needed guidance on textures and sound opportunities. Swan players demonstrated the capability of their instruments and shared extended techniques as inspiration.

Two projects were delivered to students at the Royal Birmingham Conservatoire – a Side-by-Side composition project involving eighteen students over two days, with student composer’s works being conducted by fellow students, analysed, performed and recorded for their fi nal year portfolios.

In addition, we delivered an improvisatory project over four days during May and June 2025 entitled ‘Burning Swan’ involving three composition students and two Swan players, culminating in a popup performance in the Eastside Jazz Club at the Conservatoire.

Inclusivity & Relevance

We have continued to maintain our EDI goals, which this season resulted in 10 ethnically diverse orchestral players and the retention of eighteen ethnically diverse professional players on our

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

approved extras list. The Board continues to be representative with two ethnically diverse Trustees, and an updated I&R policy statement published on our website. Every concert programme aims to broaden our audience demographic, whether through programming works by black or female composers, featuring diverse guest soloists, or through our ‘Words & Music’ approach that straddles the concert and theatre audiences. Our work in the community addresses issues of visual impairment, disability and older people. Our partnerships are with organisations carefully selected to ensure we could learn from their expertise to reach under-represented and underserved communities.

Challenges of the Last Year

The main challenge was economic, with the closure of a key partner venue four months into the season, rising costs, and the increasing di ffi culty in securing funding support from both Arts Council and from Trusts/Foundations who are carrying the burden of propping up the struggling UK Arts sector following the cessation of funding provision by many town and city councils. This resulted in a necessary contraction of our business, with the very regrettable redundancy of one sta ff member, and the implementation of extensive savings across the organisation. Regardless, we have ended the year with a modest surplus, mainly due to a generous legacy following the death of Richard Farr, a loyal friend of the orchestra and Silver Patron since 2016.

Fundraising

We would like to thank all those involved in the Orchestra of the Swan – players, support sta ff , volunteers, Friends of the Orchestra and the Friends committee (for their fi nancial, o ffi ce and front-of-house support), as well as our partners.

At a time of ongoing fi nancial restraint, we are very grateful to our Corporate Partners - Chris Wheeler Graphic Design, Cloudscapes Media and Quotidian Investments LLP - who have supported our programme this season.

Trust and public funding income remained steady despite the economic turbulence, mainly

29th May 1961 Charitable Trust	Elmley Foundation
Albright Grimley Charity	Eveson Charity
Ammco Charitable Trust	Florence Cohen Charitable Trust
Arts Council England	Garfeld Weston Foundation
Baron Davenport’s Charity	George Fentham Charity
Boshier Hinton	GH Collins Charity
Courtyard Trust	Grantham Yorke Trust
Edward Cadbury Charitable Trust	Hedley Trust
Edward & Dorothy Cadbury Trust	Hereford City Council
Edward Gostling Foundation	King Henry VIII Endowment
Elizabeth Creak Charitable Trust	Lapid Trust

orchestraoftheswan.org

LG Harris Trust	Rowlands Trust
Lillie Johnson Charitable Trust	Saintbury Trust
Linbury Trust	Scops Arts Trust
McLay Dementia Trust	Sheldon Trust
Measures Trust	Stratford Town Trust
Michael Marsh Charitable Trust	W.A. Cadbury Trust
Misses CM Pearson & MV Williams	Warwick Music Education Trust
Charitable Trust	Warwick Provident Dispensary Trust
Orchestras Live	Warwick Schools Foundation
Patrick Charitable Trust	Webb Family Trust
Perry Family Charitable Trust	Worshipful Company of Wheelwrights
R & D Turner Charitable Trust	WPH Trust
Roughley Trust

supporting our community work, rather than our concert activities. We would like to thank the following Charitable Trusts/Foundations and public bodies for their very generous support this season: We would also like to thank the many individual donors who provide not only valuable additional resources, but a personal connection to the local community.

The Future

Performances with a small ensemble of less than twelve players has become a priority as funding for concerts falls o ff a cli ff and performances must now stand on their own feet fi nancially. Accordingly, our Words & Music shows in association with Hambletts Productions are building momentum, with the creation of an exciting new show to be premiered in the summer of 2026 under discussion with a maximum of nine players. A new model of ‘Pay What You Decide’ is being trialled in Warwick during 2026, a simple, inclusive approach that invites an audience to experience the concert fi rst and then decide what it is worth. These Swan Sessions will feature fi ve players or less, ensuring fi nancial viability.

As our audio streaming gathers momentum, we will continue to record an annual mixtape crossgenre album, while funding permitting, we plan to work in partnership with Orchestras Live on a digital installation that will connect our community workshops with our concert performances. Our thriving partnership with the Warwick Schools Foundation, which has led to the founding of the Swan Youth Orchestra in partnership with the Heart of England Music hub, continues to create an incredible opportunity for state and private pupils to learn together from a top international conductor and to be coached by twelve professional Swan players, raising the standard of their ensemble playing in the process. The o ff er of up to thirty- fi ve 100% bursaries ensures this opportunity is open to all.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Final Farewell

This is my fi nal year-end report as I step down as Chief Executive following eight transformative (and sometimes turbulent) years, where the orchestra has managed to thrive in a new digital world, and nimbly manoeuvre through a huge decline in orchestral concert audiences. It has been an absolute pleasure and joy to work alongside Artistic Director David Le Page whose vision puts him in a unique place in the orchestral sector, to have the support and wisdom of inspiring sta ff members, and to have had the privilege of an unbelievably talented group of freelance players. I wish the orchestra every success as a new Chief Executive takes the helm.

Debbie Jagla Chief Executive 21 January 2026

orchestraoftheswan.org

Trustees and O cers ffi

Trustees Simon Littlewood (Chair) John W E Liggins Altaf Kara – Resigned October 2024 Christopher Wheeler Marcus Willett Hilary Evans Sunney Sharma Roger Wilson Carolyn Hodges Caroline Evans – Appointed December 2024 Charity Number 1068570 Company Number 03458051 Principal Address and Warwick Schools Foundation Registered O ffi ce Myton Road Warwick CV34 6PP Solicitors Shoosmiths LLP 2 Colmore Square 38 Queensway Birmingham B4 6JB Independent Examiner Haines Watts Wolverhampton limited Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Trustees’ Report and Financial Review

The Trustees, who are also the directors for the purpose of company law, present their report and the accounts of the charity for the year ended 31 August 2025. These accounts have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102, and the Charities Act 2011.

Objectives

The charity’s objectives continue to be to promote, advance, develop and maintain public education in and appreciation of the art and science of music in all its aspects by the presentation of public concerts, recitals, opera, ballet, musical and dramatic works, displays and entertainments of all kinds involving orchestras, the theatre, variety, stage, musicals, radio and television for the public bene fi t.

There has been no change in the objectives during the year.

Structure, Governance and Management

Orchestra of the Swan (the Orchestra) is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26 February 1997 and is registered as a charity with the Charity Commission.

The Trustees, who are also directors for the purposes of company law, who served during the year and up to the date of this Report are listed on page 20.

The Board has delegated responsibility for the day-to-day operations of the charity to the executive team, including the Chief Executive and the Artistic Director.

The Chief Executive is responsible for the day-to-day business and fi nancial operations of the charity, sta ff management and the appointment of new sta ff , subject to Board approval.

The Artistic Director is responsible for developing the Orchestra’s artistic vision, ensuring the continued delivery of high-quality, interesting and innovative programmes, and communicating this vision clearly to funders, sta ff , Trustees, Friends and other stakeholders. The Artistic Director also appoints the core players of the Orchestra.

The titles of Chief Executive and Artistic Director denote executive roles within the company and do not confer on the holders any of the primary responsibilities of Trustees and statutory directors of the company. The Trustees are wholly independent of the executive, do not receive any remuneration as Trustees, and are not accustomed to act in accordance with their wishes and directions.

orchestraoftheswan.org

The Trustees meet approximately four times per annum to receive reports from both the Chief Executive and the Artistic Director and to consider these reports alongside the short-and longterm plans for the charity. They also undertake a regular review of the fi nancial risks faced by the charity and maintain a risk register. This register is intended to:

Identify the material risks facing the charity
Establish systems and procedures to mitigate those risks
Implement procedures to minimise potential liability to the charity should those risks materialise

In addition, the charity maintains policies covering Health and Safety, Child Protection and Vulnerable Adult Safeguarding, and Equal Opportunities, along with a Statement of Inclusivity and Relevance available in full on our website.

Board Changes

We were also delighted to appoint Caroline Evans as a Trustee on 18 December 2024. Caroline comes from a legal professional background. After graduating in Law from Oxford University, she practised at the commercial bar, specialising in banking and fi nancial markets cases involving complex analysis and close collaboration with other lawyers and accountants. She brings to the Board the professional expertise gained during those years. A committed supporter of the performing arts, Caroline enjoys orchestral music, opera, ballet and theatre, and has a strong interest in music education and the transformative power of music. Her enthusiasm for the Swan’s mission to make orchestral experience accessible to all makes her a welcome addition to the team.

The Board saw one resignation during the period covered in this report, namely Altaf Kara (resigned 23 October 2024). We would like to extend our sincere thanks to Altaf for his valuable support and guidance throughout his tenure.

Financial Review

Income

Total income for the year amounted to £672k, representing an 8% decrease from £729k in the previous year.

The most signi fi cant change was a reduction in grant income from Trusts and Foundations, which decreased by 34% following an increasingly di ffi cult funding landscape and challenging economic conditions currently a ff ecting the wider arts sector. Public Grant income remained relatively stable. These reductions were o ff set by notably strong performances in Box O ffi ce and Fees, which grew by 20%, and a substantial increase in income from individuals, which more than doubled compared to last year. This growth was primarily driven by a very generous legacy donation, for which the orchestra is truly grateful.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Income for the year was made up as follows:

Trusts and Foundations: £172k (26%)
Box O ffi ce and Fees: £258k (38%)
Public Grants: £69k (10%)
Tax Relief - Gift Aid and Orchestra Tax Relief: £58k (9%)
Individuals: £97k (14%)
Other: £18k (3%)

Expenditure

Total expenditure for the year was £668k (2024: £727k), remaining broadly consistent with the activity delivered. There were no signi fi cant changes in cost structure during the year.

Surplus / Reserves

The resulting net position was a surplus of £3,374 (2024: £1,801), increasing total reserves at 31 August 2025 to £87,827, all of which are unrestricted.

Reserves Policy

The Trustees have again reviewed and rea ffi rmed the charity’s reserves policy, which is to retain su ffi cient funds to ensure the continued sustainable operation of the Orchestra.

The Orchestra requires reserves to provide for contingencies that may arise due to the nature of long-term artistic programming and its reliance on sponsorship and donations, both of which can vary year by year due to economic conditions and other factors.

The Trustees remain committed to building unrestricted reserves over future years to achieve a target level equivalent to three months’ running costs, estimated at £100,000. Current reserves of £87,827 fall short of this target, but the Trustees are encouraged by steady progress and continue to work towards strengthening the charity’s fi nancial position.

The Trustees consider the current reserves to be su ffi cient to support the planned level of activity for 2025/26.

Signed on behalf of the Board of Trustees Simon Littlewood Chair of Trustees, 21 January 2026

orchestraoftheswan.org

Independent Examiner’s Report to the Trustees of Orchestra of the Swan (Limited by Guarantee)

I report to the charity trustees on my examination of the fi nancial statements of the company for the year ended 31 August 2025 which are set out on pages 32 to34.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satis fi ed myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I con fi rm that I am quali fi ed to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

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.

Names atta Welrurhampten Limital

Haines Watts Wolverhampton Limited Independent Examiner Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA

Date: 21 January 2026

31 O

orchestraoftheswan.org

Statement of Financial Activities including Income and Expenditure Account for the year ending 31 August 2025

Unrestricted Restricted Total Total Funds Funds 2025 2024 Income Notes £ £ £ £ Donations and legacies 1 82,354 14,500 96,854 43,886 Investment Income 2 291 - 291 618 82,645 14,500 97,145 44,504 Income from charitable activities 3 280,434 234,561 514,995 561,853 Other incoming resources 4 59,661 - 59,661 122,469 Total income 422,740 249,061 671,801 728,826 Expenditure Charitable activities Costs relating to staging performances 419,366 249,061 668,427 727,025 Total expenditure 5 419,366 249,061 668,427 727,025 Net surplus 3,374 - 3,374 1,801 Total funds brought forward 84,453 - 84,453 82,652 Total funds carried forward 13 87,827 - 87,827 84,453

The statement of fi nancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 37 to 40 form part of these accounts.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Statement of Financial Position at 31 August 2025

2025 2024 Fixed assets Notes £ £ Tangible assets 9 295 1,680 295 1,680 Current assets Debtors 10 141,074 149,068 Cash at bank and in hand 90,116 75,332 231,190 224,400 Creditors: Amounts falling due within one year 11 (143,658) (141,627) Net current assets 87,532 82,773 Net assets 87,827 84,453 Funds of the charity Restricted Funds 12 - - Unrestricted Funds 13 87,827 84,453 Total charity funds 87,827 84,453

orchestraoftheswan.org

Statement of Financial Position at 31 August 2025

For the fi nancial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

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

These accounts were approved by the Board of Trustees for issue on 21 January 2026 and are signed on behalf of the board by:

Simon Littlewood Trustee

Hilary Evans Trustee

The notes on pages 37 to 40 form part of these accounts

34 ©

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Accounting Policies

Basis of preparation

The fi nancial statements of the charitable company, which is a public bene fi t entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (e ff ective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The fi nancial statements have been prepared under the historical cost convention.

The fi nancial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash fl ows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts

The accounts are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the accounts requires management to make judgements, estimates and assumptions that a ff ect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Funds

General Funds – these are unrestricted funds that are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and have not been designated for other purposes.

Designated Funds – these are unrestricted funds that the Trustees have set aside for a particular purpose. The aim and use of each designated fund is set out in the notes to these fi nancial statements.

Restricted Funds – these are funds received where the donors have imposed speci fi c restrictions on the use of those funds or which have been raised by the charity for speci fi c purposes. The costs of raising and administering such funds are charged to the speci fi c fund.

orchestraoftheswan.org

Incoming resources

All incoming resources are included in the statement of fi nancial activities when entitlement has passed to the charity; it is probable that the economic bene fi ts associated with the transaction will fl ow to the charity and the amount can be reliably measured.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classi fi ed under headings of the statement of fi nancial activities to which it relates.

Taxation

As a registered charity The Orchestra of the Swan is exempt from taxation on income and gains to the extent that these are applied to its charitable objects. No taxation charges have arisen in respect of the charity during the period.

Fixed Assets

Tangible assets are stated at cost less accumulated depreciation. Investments in unlisted equity shares are initially recorded at cost and subsequently measured at fair value.

Depreciation

Depreciation is calculated so as to write o ff the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment (including website) 25% straight line Fixtures 10% straight line

Operating lease

Assets held under fi nance lease are included and depreciated in accordance with the company’s normal accounting policies. The present value of future rental is shown as a liability. The interest element of rental obligations is charged to the statement of fi nancial activities over the period of the lease in proportion to the balance of capital repayments outstanding.

Rentals payable under operating leases are charged to the statement of fi nancial activities on a straight line basis over the period of the lease.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Notes to the Accounts year ended 31 August 2025

Donations and legacies 2025 2024 £ £ Donations and legacies 96,854 43,886 2. Investment income 2025 2025 £ £ Interest receivable 291 618 3. Income from charitable activities Unrestricted Restricted Total Total Funds Funds 2025 2024 £ £ £ £ Orchestral performances 280,434 234,561 514,995 561,853 280,434 234,561 514,995 561,853 The income for orchestral performances includes tickets, programme sales, as well as grants and funding in respect of speci fi c performances and the commissioning and creation of new music for those performances. Further details are set out in the Trustees’ Report that accompanies these accounts.
Other incoming sources 2025 2024 £ £ Orchestra Tax Relief 53,682 106,274 Other income 5,979 16,195 59,661 122,469

After a review by the Trustees in 2024, it was decided that Orchestra Tax Relief should be recognised in the fi nancial period in which the performances took place. This has increased income in 2024 by £42,322 compared to what it would have been under the previous accounting policy. This change of policy brings treatment in line with that already used for Gift Aid.

orchestraoftheswan.org

Expenditure Staff Other Total Total Costs Costs 2025 2024 Charitable activities £ £ £ £ Costs relating to staging performances – activities undertaken directly 199,746 468,681 668,427 727,025 199,746 468,681 668,427 727,025 Included in other costs is depreciation of £1,385 (2024 £3,492) 6. Activities undertaken directly 2025 2024 Other costs relating to costs staging performances comprise: £ £ Players fees 268,305 269,561 Conductor fees 12,079 18,675 Music 5,396 4,232 Event management 182,901 201,519 468,681 493,987

Event management includes direct and indirect costs for orchestral performances, other artistic and community projects including hall hire, promotion, advertising, printing, and a proportion of the day-to-day costs of running the Orchestra.

Trustees

None of the Trustees (nor any persons connected with them) received any remuneration or bene fi ts from the charity during the year.

Employees Number of employees The average number of monthly employees during the year was: 2025 2024 Number Number Marketing 1 1 Administration 7 8 8 9 Employment costs 2025 2024 £ £ Wages and salaries 181,759 217,811 Social Security costs 13,649 15,227 Employer pension contributions 4,338 4,812 199,746 237,850

There are no employees who received total employee bene fi ts of more than £60,000.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

Tangible assets £ Cost At 1 September 2024 21,201 Additions - At 31 August 2025 21,201 Depreciation At 1 September 2024 19,521 Charge for the year 1,385 At 31 August 2025 20,906 Carrying amount At 31 August 2025 295 At 31 August 2024 1,680 10. Debtors 2025 2024 £ £ Trade debtors 57,182 5,022 Prepayments and accrued income 83,892 144,046 141,074 149,068 11. Creditors: amounts falling due within one year 2025 2024 £ £ Trade creditors 2,191 832 Taxes and social security costs 8,426 5,960 Accruals and deferred income 133,041 134,835 143,658 141,627

12. Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for speci fi c purposes:

Balance Balance at 1 September at 31 August 2024 Income Expenditure 2025 £ £ £ £ Other Speci fi c Projects - 249,061 249,061 - - 249,061 249,061 -

Other speci fi c projects are outlined in the Trustees’ Report and re fl ect speci fi c grants and donations received which are to fund particular activities that the Orchestra undertakes and where the grant or donor speci fi es that the funds are to be used for that purpose.

orchestraoftheswan.org

Analysis of net assets between funds Unrestricted Restricted Funds Funds Total Fund balances at 31 August 2025 are represented by: £ £ £ Fixed assets 295 - 295 Current assets 231,190 - 231,190 Creditors: amounts falling due within one year (143,658) - (143,658) 87,827 - 87,827 14. Operating leases The total future minimum lease payments under non-cancellable operating leases are as follows: 2025 2024 £ £ Not later than 1 year 11,301 10,763 Later than 1 year and not later than 5 years 17,944 29,245 29,245 40,008
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered o ffi ce Warwick Schools Foundation, Myton Road, Warwick, Warwickshire, CV34 6PP.
The Orchestra of the Swan is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a member.

Orchestra of the Swan Trustees’ Report and Financial Statements for the year ending 31 August 2025

orchestraoftheswan.org Charity number 1068570 Orchestra of the Swan is a member of the ABO