Company registration number: 03639339 Charity registration number: 1075134
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
GNS Associates Limited Chartered Accountants
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2|
|Independent Examiner's Report|3|
|Statement of Financial Activities (including Income and Expenditure Account)|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6—9|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities (including Income and Expenditure Account)|10|
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Reference and Administrative Details For The Year Ended 31 August 2025**
**Trustees** Mr Roger John Lawrence Bramble Lady Tessa Brewer OBE Mr Iain Gibbs Prof. Ian Jones Mr Simon Christopher Gervis Melluish MBE Mr Benjamin John Frederick Pateman - Secretary 1075134 **Charity Number** 03639339 **Company Number** Lekh N Ghimire **Independent Examiner** GNS Associates Limited Chartered Accountants Boundary House Cricket Field Road Uxbridge UB8 1QG
Page 1
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Company No. 03639339 Trustees' Report For The Year Ended 31 August 2025**
The trustees present their report and the financial statements for the year ended 31 August 2025.
## **Objectives and Activities**
## **Aims and Objectives Charitable Objectives**
The principal objective of the charitable company is the provision of a national orchestra giving coaching and performing opportunities to music students and particularly those that have graduated and need to maintain their skills until they acquire a position in one of the country's professional orchestras.
## **Structure, Governance and Management**
## **Trustee Selection Methods**
The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
## **Review of Activities and Future Developments**
The results of the year’s operation are set out in the financial statements. The net movement in funds for the year amounted to £13,631 compared to £60,601 in 2024. The retained surplus on 31 August 2025 amounted to £116,893. 2024 - £103,262. The main reason for this was the reduction in the amount of donations and grants received. The Trustees expect a decrease in the surplus over the next financial year due to increased costs of rehearsal space and concert venue. Donations have decreased from £201,576 to £175,771. The Trustees are grateful for the support of all donors including the Garfield Weston Foundation (£10,000) and will maintain their fundraising activities.
In May, the orchestra returned to Smith Square Hall to celebrate Europe Day and on this occasion were joined by dancers from the Royal Ballet School. In October, the orchestra took part in another successful side-by-side rehearsal day with the English National Ballet Philharmonic and expects this to become a yearly event. The Trustees continue to develop relationships with Conservatoires and Universities throughout the United Kingdom.
## **Risk Management**
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company and are satisfied that systems are in place to mitigate the Company's exposure to major risks. Trustees' responsibilities Company and charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company of that period. In preparing those financial statements the Trustees have:
i.Selected suitable accounting policies and applied them consistently.
ii.Made judgments and estimates that are reasonable and prudent.
iii.Stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. iv.Prepared the financial statements on a going concern basis.
The Trustees have overall responsibility for ensuring that the charitable company has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. This report was approved by the trustees and signed on its behalf.
## **Small Company Rules**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Benjamin John Frederick Pateman Trustee
21/01/2026
Page 2
## **THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Independent Examiner's Report to the Trustees of THE YOUNG MUSICIANS SYMPHONY ORCHESTRA For The Year Ended 31 August 2025**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
## **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 satisfied 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 charity’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 confirm that I am qualified 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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).
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.
Lekh N Ghimire 21/01/2026 GNS Associates Limited Chartered Accountants Boundary House Cricket Field Road Uxbridge UB8 1QG
Page 3
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Charitable activities
Investments
**4**
**EXPENDITURE ON:**
Raising funds
**6**
NET INCOME
NET MOVEMENT IN FUNDS
**RECONCILIATION OF FUNDS:**
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
**13**
The notes on pages 6 to 9 form part of these financial statements.|**2025**
**Unrestricted**
**funds**
**£**
233,377
22,762
347|**2024**
**Unrestricted**
**funds**
**£**
261,693
18,040
-|
|---|---|---|
||256,486|279,733|
||(242,855)|(219,132)|
||13,631|60,601|
||13,631
103,262|60,601
42,661|
||116,893|103,262|
||||
Page 4
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Balance Sheet As At 31 August 2025**
|||**2025**|**2024**|
|---|---|---|---|
|||**Unrestricted**
**funds**|**Total funds**|
||**Notes**|**£**|**£**|
|**FIXED ASSETS**||||
|Tangible Assets|**10**|131|210|
|||131|210|
|**CURRENT ASSETS**||||
|Debtors|**11**|13,277|18,415|
|Cash at bank and in hand||99,044|86,632|
|||112,321|105,047|
|**Creditors: Amounts Falling Due Within One Year**|**12**|**4,441**|**(1,995 )**|
|**NET CURRENT ASSETS (LIABILITIES)**||**116,762**|**103,052**|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**116,893**|**103,262**|
|**NET ASSETS**||**116,893**|**103,262**|
|**FUNDS OF THE CHARITY**||||
|Unrestricted Funds||116,893|103,262|
|TOTAL FUNDS|**13**|116,893|103,262|
For the year ending 31 August 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees 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 in accordance with the provisions applicable to companies subject to the small companies regime. On behalf of the board
Mr Roger John Lawrence Bramble Mr Benjamin John Frederick Pateman Trustee Trustee 21/01/2026 21/01/2026
The notes on pages 6 to 9 form part of these financial statements.
Page 5
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Notes to the Financial Statements For The Year Ended 31 August 2025**
## **1. General Information**
THE YOUNG MUSICIANS SYMPHONY ORCHESTRA is a company limited by guarantee, incorporated in England & Wales, registered number 03639339 and registered charity number 1075134. The registered office is 11 Gunnersbury Avenue, London W5 3NJ.
## **2. Accounting Policies**
## **2.1. Basis of Preparation of Financial Statements**
The financial statements 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) (effective 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 charitable company is a Public Benefit Entity as defined by FRS 102.
## **2.2. Incoming Resources**
The charity has incoming resources from multiple sources including government tax relief, donations and charitable activities.
## **2.3. Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% RBB
Fixtures & Fittings 20% RBB
## **2.4. Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## **3. Income from Donations and Legacies**
Donations and gifts
## **4. Investment Income**
Bank interest receivable
## **5. Net Income/(Expenditure)**
The net income is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned
|**2025**
**Unrestricted**
**funds**
**£**
233,377|**2024**
**Unrestricted**
**funds**
**£**
261,693|
|---|---|
|**2025**
**Unrestricted**
**funds**
**£**
347|**2024**
**Unrestricted**
**funds**
**£**
-|
|**2025**
**£**
79|**2024**
**£**
79|
Page 6
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## **6. Analysis of Expenditure**
|**6.** **Analysis of Expenditure**||||
|---|---|---|---|
||||**2025**|
||**Activities**|||
||**undertaken**|||
||**directly**|**Support costs**||
||(see note7)|(see note8)|**Total**|
||**£**|**£**|**£**|
|Raising funds|198,159|44,696|242,855|
||||**2024**|
||**Activities**|||
||**undertaken**|||
||**directly**|**Support costs**||
||(see note7)|(see note8)|**Total**|
||**£**|**£**|**£**|
|Raising funds|177,200|41,932|219,132|
|**7.** **Direct Costs**||||
||||**2025**|
||||**Raising funds**|
||||**£**|
|Fundraising activities|||55,215|
|Cost of goods sold|||125,417|
|General administration|||17,527|
||||198,159|
||||**2024**|
||||**Raising funds**|
||||**£**|
|Fundraising activities|||24,644|
|Cost of goods sold|||138,454|
|General administration|||14,102|
||||177,200|
|**8.** **Support Costs**||||
||||**2025**|
||||**Raising funds**|
||||**£**|
|Employee costs|||16,173|
|General administration|||28,444|
|Depreciation|||79|
||||44,696|
Page 7
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## **9. Average Number of Employees**
Average number of employees during the year was: NIL (2024: )
## **10. Tangible Assets**
|**Cost**
As at 1 September 2024
As at 31 August 2025
**Depreciation**
As at 1 September 2024
Provided during the period
As at 31 August 2025
**Net Book Value**
As at 31 August 2025
As at 1 September 2024
**11.** **Debtors**
**Due within one year**
Other debtors
**12.** **Creditors: Amounts Falling Due Within One Year**
Trade creditors
Accruals and deferred income|**Plant &**
**Machinery**
**£**
19,021|**Plant &**
**Machinery**
**£**
19,021|**Fixtures &**
**Fittings**
**£**
6,065|**Total**
**£**
25,086|
|---|---|---|---|---|
||19,021||6,065|25,086|
||18,954
17||5,922
62|24,876
79|
||18,971||5,984|24,955|
||50||81|131|
||67||143|210|
||||**2025**
**£**
13,277
**2025**
**£**
536
(4,977)
(4,441 )|**2024**
**£**
18,415|
|||||**2024**
**£**
1,995
-|
|||||1,995|
Page 8
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## **13. Movement in Funds**
|**3.** **Movement in Funds**|||||
|---|---|---|---|---|
|**Unrestricted funds**
General:
General unrestricted fund
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Total funds**|**As at 1**
**September 2024**
**£**
103,262|**Income**
**£**
256,486|**Expenditure**
**£**
(242,855)|**As at 31 August**
**2025**
**£**
116,893|
||103,262|256,486|(242,855)|116,893|
||**As at 1**
**September 2023**
**£**
42,661|**Income**
**£**
279,733|**Expenditure**
**£**
(219,132)|**As at 31 August**
**2024**
**£**
103,262|
||42,661|279,733|(219,132)|103,262|
## **14. Transactions with Trustees**
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
|**2025**|**2024**|
|---|---|
|**£**|**£**|
## **15. Related Party Disclosures**
## **16. Company limited by guarantee**
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 9
**THE YOUNG MUSICIANS SYMPHONY ORCHESTRA Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025**
|**2025**
**Total funds**
**£**
**INCOME AND ENDOWMENTS FORM:**
**Income, Donations and legacies**
4000
Income from Functions
22,762
4001
Donations and legacies
175,771
4003
Orchestra tax relief
52,206
4002
HMRC Charities
5,400
256,139
**Investments**
4100
Bank Interest Received
347
347
256,486
**EXPENDITURE ON:**
**Raising funds**
5000
Function Cost
-10,625
5001
Adverts & Publicity
-8,225
5002
Hire of Halls for Concert
-16,168
5003
Hire of halls for rehersals
-22,284
5004
Hire of Instruments
-9,699
5005
Hire of Music
-2,677
5007
Auxillary Staff / Organisers Ren- Fixing
-5,970
5008
Tutor
-43,336
5009
Auditions
-750
5010
Soloist
-5,760
5011
Recording and Virtual performance costs
-6,188
5012
Conductors Fees
-11,520
5013
Players Exp
-32,333
5014
Concert Expenses & Instruments transport
-5,174
5015
Programmes
-3,377
7000
Management Fees
-17,280
7400
Travel & Accomodation
-16,173
7501
Computer software costs
-2,424
7502
Telephone Expenses
-1,451
7601
Accountancy & Bookkeeping
-4,900
7604
Admin & Secreterial Work / General Exp
-14,151
7807
Licences
-102
8201
Trade Subscription
-793
8205
Insurance
-317
7901
Bank Charges
-429
7905
C/C Charges
-748
3400
Depreciation
-79
-242,933
NET INCOME
13,552|**2024**
**Total funds**
**£**
18,040
201,576
54,288
5,829|
|---|---|
||279,733
-|
||-
279,733
-8,305
-7,999
-14,605
-15,235
-4,045
-2,983
-6,550
-36,990
-12,344
-2,900
-5,750
-11,520
-29,520
-4,893
-2,923
-17,280
-11,348
-1,322
-1,373
-4,873
-14,102
-190
-692
-310
-400
-602
-79
-219,133|
||60,600|
Page 10