2023-12-31-accounts

Registered number.. 05294373 Charity number.. 1109758 CHROMATICA ORCHESTRA LIMITED (formerly Bath Festival Orchestra) (A company limited by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers Trustees. report Independent examlner's report ststement of financial activitlOS Balance sheet ststement of cash flows Notes to the financial statements

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees Amanda Nevill lan James Slockley Thomas Charles Lewinglon Company registered number 05294373 Charity registered number 1109758 Registered office Clo BKL 35 Ballards Lane London N3 1XW Independent Examiner lan Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW Page 1

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report together with the financial statements of the Charity for the year 1 January 2023 10 31 December 2023. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confimi that the Annual report and financial statements of the charitable company comply with the current slatulory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their awounts In accordance with the Financial Reporting Stsndard applicable In the UK and Republic of Ireland IFRS1021 leffective 1 January 20191. Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Reporti Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The objectives of the charity as per ils governing document are lo advan￿ and promote the education of the public In the knowledge, understsnding and appreciation of music. In selling objectives and planning aclivilies, the Trustees have given due regard to general guidance published by the Charity Commission, relating to public benefit , from the aclivilie5 that the trust should undertake. The charity is dedicated to nurturing the next generation of musical lalenl, whilst developing inclusivity and accessibility to orchestral music. At ils heart is crealivily, musicianship and innovation leading lo dynamic, high quality performances and recordings displayed through, themed programmes, arresting and professional production values, use of non-traditional venues, Immersive experiences and our community work with schools In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Strategies for achieving objectives 2023 saw the first full season of orchestral concerts for the charity and a continuation of our community work in schools being the key strategy of the charity lo achieve il's objectives. c. Activities undertaken to achieve objectives February, April and June concerts staged in Cadogan Hall London were repeated in St George's Brandon Hill in Bristol. We deepened our partnership with the David Ross Education Trust, allowing our work with the Bobby Moore Academy lo continue lo grow, with students performing side by side with the orchestra in the June concert at Cadogan Hall. In May, the partnership with the Bath Festival continued with a sell out performance of Mozart Requiem in Bath Abbey. In September. as part of our national expansion, we announced the orchestra'5 participation in the cultural regeneration across the Wirral, which was to launch In April 2024. working with an array of cross-seclor delivery partners from the region, bringing orchestral music lo grass-roots venues, classrooms, and Iconic landmarks of the North-vvest. In December we performed at EartH Theatre Hackney, London, as we start to broaden the audien￿ profile of the orchestra. d. Volunteers The Charity does not currently rely on volunteers other than the Trustees. Page 2

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and activities {continuedl e. Main activities undertaken to further the Charity's purposes ft>r the public benefit Investing in music education and taking live orchestral music lo broader audiences enriches lives and communities, instilling valuable life skills, creating both social and economic value. Achievements and performance a. Main achievements of the Charity 2023 saw a significant increase in activity on 2022 with income increasing by over 90'/o and expenditure by 55'/0, as we increased the number of concerts and community work projects. We were able to pul on a number of ¢on¢erts in London, Bristol and Bath as well as announcing our plans to expand the orchestra's participation in cultural regeneration across the Wirral. b. Key performance indicators Increased activity resulted in reaching both a larger audience and wider audience profile. However the numbers did not reach targets and has led to a high focus on ev0￿1ng the positioning and values prior lo investing in brand and marketing as part of our 2024 activity. c. Review of activities The Trustees are pleased with the achievements of 2023 and are looking fonmard lo continuing this success with the re-launch of the orchestra in 2024. d. Factors relevant to achieve objectives Executive leadership and inspired artistic programming will be in place for the 24125 season. The headline events will include the combination of inspired venue choices, arresting production values and outstanding quality in dynamic programming content. Developing existing and introducing new partnerships will be key lo both our education and concert programmes. Early career classically trained 0￿heStral players with an energy and social purpose lo inspire and open doors for diverse communities through the power of music will deliver, as we build the long term artistic, educational and financial success of the orchestra. e. Fundraising activities and income generation Funding lo date has been loo dependent on a narrow base of hugely generous arts philanthropists and trust grants. Over the next years there are clear fundraising plans In plaTr lo broaden and deepen the income sources. Match funding will be a core part of this plan. Ticket sales Income will also grow as we see the return on the investment Into the lighter definition of our positioning in the orchestral market, brand development and marketing activity. Page 3

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review . Going concem After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existen￿ for the foreseeable future. For this rea50n, they continue to adopt the going COn￿M basis in preparing the financial statements. b. Reserves policy 11 remains the policy of the trust that unreslricled funds which have not been designed for a specific use should be maintained al a level between three and six month's expenditure. There are currently no restricted funds, with total funds carried forward as of December '23 of £110, 146. The Trustees consider that reserves al this level will ensure that, in the event of a significant drop in funding. they will be able to continue the Irusl's current acb"vilies, while consideration is given lo ways in which addib.onal funds will be raised. c. Principal risks and uncertainties With funding secured for the 2024125 season, the Trustees have assessed any other risks as minor and are satisfied that systems are in place to miligale them. d. Financial risk management objectives and policies The Trustees deem that the main risk to the Charity is loss of funding and their main objective in this regard is ensuring that funding is secure for the coming period. This is regularly discussed at Trustees meetings lo ensure that il is propedy monitored and addressed. e. Principal funding The key funder of the charity in the current financial year was the Chair of the Board of Trustees. Vve are very grateful to him for his continued support. Structure, governance and management a. Constitution Chromatica Orchestra Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum and Articles of Association on 23 November 2004 as amended on 12 Feb 2020 and 31 May 2024. The name of the Charity was changed from Bath Festival Orchestra to Chromatica Orchestra on 12 August 2024. b. Methods of appointment or election of Trustees The management of the Charity Is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association. Page 4

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, governance and management Icontinuedl Oryanisational structure and decision-making policies Executive Director reports to the Chair of the Board of Trustees. Once strategy and budget is signed off by the Trustees, the Executive Director Is key decision maker, referring back to board for guidance and decision making on mallers various as required. The team working with the Executive Director cover artistic direction and programming, marketing and PR, production, education, finan￿ and development. d. Policies adopted for the induction and training of Trustees The Board of Trustees will be expanded in 2024 and induction and training of Trustees considered al this time. Currently Trustees are given an induction by the Chair as well as being given a copy of the most recent Charity accounts. e. Pay policy for key management personnel A competitive market rate is agreed to attract the best talent for the required roles with key management pay considered by the Board of Trustees. f. Related party relationships In 2023 we partnered with David Ross Education Trust on education projects around introducing and developing orchestras in secondary schools. This programme tilled Orchestrate, will expand in 2024, as we start a partnership with Music in Secondary Schools IMISSTI. g. Financial risk management With the plans for the expansion of the board, a formal risk register will also be signed off defining levels of potential impact of any Identified risk, with mitigation detailed and responsibility for monitoring designated lo appropriate senior manager. h. Trustees. indemnities Insurance covering professional Indemnity has been purchased and covers up lo £1 million. Page 5

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for future periods In 2024 we will have renamed and rebranded the orchestra lo the Chromatica Orchestra as we move away from the previous regional constraints of the name Bath Festival Orchestra. In line with our mission of nurturing the next generation of musical talent we will be introducing an Emerging Conductors, Fellowship. We will be staging our core programme events in wider arts venues as well as traditional COn￿rt halls, as we look to broaden the audience profile attending live orchestra. We will be breaking down the barriers be￿een stages and auditoriums, as we look lo develop more immersive experiences with our productions. The new partnership with MISST will broaden our work with secondary schools. ststement of Trustees. responsibilities The Trustees (who are also the directors of the Charity for the purpose5 of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial stslemenls for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Charity and of Ils incoming resources and application of resources, including Its Income and expenditure, for that period. In preparing these financial stalemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent", state whether applicable UK Accounting Standards IFRS 1021 have been ft)Ilowed, subject lo any material departures disclosed and explained in the financial statements", prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any lime the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Chatles LeK/lktgt017 Thomas Charles Lewington Ichair of Trustees) Dale. 2510912024 Page 6

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Independent Examlner's Report to the Trustees of Chromatlca Orchestra Llmlted Ilhe Charlty'l I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. Responslbllltles and Basls of Report As the Trustees of the Charity land ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Charity 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 the Charity's accounts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l. In carying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent Examlner's Statement Since the Charity's gross income ex￿eded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accounlanls England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attents'on in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Charity 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 fairf 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charity's Trustees those matters l am required lo stste lo them in an Independent examinerfs report and for no other purpose. To the fullest exlenl permitted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. lan Saunderson FCA BKL Audit LLP 35 Ballards Lane London N3 1XW /kU& SA¥Ut3èrRyth Dated.. 2510912024 Page 7

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and legacies Charitsble activities 551.034 62.091 551.034 62.091 297,026 24.582 Total income 613.125 613,125 321.608 Expgnditure on: Charitable activities 507.565 507.565 325, 762 Total expenditure 507,565 507,565 325, 762 Net movement in funds 105.560 105.560 (4, 154) Reconciliation of funds: Totsl funds brought forward Nel movement in funds 4.586 105,560 4,586 105,560 8, 740 (4, 154) Total funds carried forward 110.146 110.146 4,586 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 to 23 form part of these financial statements. Page 8

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) REGISTERED NUMBER: 05294373 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note Current assets Debtors Cash al bank and in hand 177.533 48.831 2,070 19,947 226,364 22,017 Creditors.. amounts falling due within one year Total net assets 10 (116.218) (17,431) 110,146 4,586 Charity funds Reslricled funds Unrestricted funds 11 11 110,146 4,586 Total funds 110,146 4.586 The Charity was entiued lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Thomas Charles Lewington Ichair of Trusleesl Dale.. 2510912024 The notes on pages 11 to 23 form part of these financial statements. Page 9

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash flows from operating activities Nel cash used in operating activities 28,884 11,119 Cash flovts from investing activities Net cash provided by investing activities Cash flows from flnanclng actlvltles Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 28,884 19,947 8,828 Cash and cash equivalents at the end of the year 48,831 19,947 The notes on pages 11 to 23 form part of these financial statements Page 10

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General Informatlon Chromatica Orchestra Limited is an incorporated charity established on 2311112004.This was registered with the charity commission 27 May 2005. The Charity was formerly known as Bath Festival Orchestra bul changed it's name to Chromatica Orchestra Limited on 31 May 2024. Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Stslement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Chromalica Orchestra Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise staled in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entillemenl lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of re￿Ipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement lo a legacy exists when the Charity has sufficient evidence that a gift has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be required to satisfy claims in the eslale. ReTript of a legacy must be recognised when it is probable that il will be received and the fair value of the amount re￿1Vable, which will generally be the expected cash amount lo be distributed to the Charity, can be reliably measured. Grants are included in the Statement of financial activities on a re￿1vable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the Balan￿ sheet. Where income is received in advan￿ of entitlement of re￿ipt, Ils recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is re￿ived, the income is accrued. Page11

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, it is probable that a transfer of economic benefi'ts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on direcuy undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.5 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.6 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balan￿ sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the Charity anticipates il will pay to settle the debt or the amount it has received as advanced payments for the goods or setvices it musl provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 2.7 Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. Page 12

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollcles Icontlnuedl 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Income from donatlons and legacles Unrestricted funds 2023 Total funds 2023 Donations and gifts Gift aid Orchestral tax relief 291,806 138,791 120,437 291.806 138,791 120.437 551,034 551.034 Unrestricted funds 2022 Total funds 2022 Donations and gifts 297, 026 297,026 Income from charitable aetivities Unrestrieted funds 2023 Total funds 2023 Income from charitable activities - Promoting the Knowledge, Understsnding and Appreciation of Musi 62,091 62.091 Page 13

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from charltable actlvltles {contlnued) Unrestricted funds 2022 Total funds 2022 Income from charitable activities - Promoting the Knowledge, Understanding and Appreciation of Music 24,582 24,582 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2023 Total 2023 Promoting the Knowledge, Understanding and Appreciation of Music 507,565 507,565 Unrestrictgd funds 2022 Total 2022 Promoting the Knowledge, Understanding and Appreciation of Music 325, 762 325, 762 Analysis of expenditure by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Promoting the Knowledge, Understanding and Appreciation of Music 322,525 185,040 507.565 Page 14

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Promoting the Knowledge, Understanding and Appreciation of Music 204.586 121,176 325, 762 Analysis of direct costs Promoting the Knowledge. Understandi ng and Appreciatio n of Music 2023 Total funds 2023 Artistic Directors costs Rehearsal costs 33,800 17,269 165,305 6,036 98,780 1,335 33,800 17,269 165.305 6.036 98,780 1,335 Musicians, costs- performances Education and Outreach costs Performance costs Other direct costs 322,525 322.525 Page 15

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Analysls of dlrect costs {contlnued} Promoting the Knowledge, Understandi ng and Appreciation of Music 2022 Total funds 2022 Artislie Directors costs Rehearsal costs Musicians, costs - performances Education and Outreach costs Performance costs Other direct costs 39,600 3.555 76,069 18.439 66,851 72 39,600 3,555 76,069 18,439 66,851 72 204.586 204.586 Page 16

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Promotlng the Knowledge, Understandi ng and Appreciatio n of Music 2023 Total funds 2023 Insuran 127 127 IT expenses Audit & accountancy Advertising and marketing Travel costs 265 8,972 72,389 11,686 1,033 659 265 8.972 72,389 11,686 1,033 659 Website costs Sundry expenses Subscriptions Consultancy Bank fees VAT Adjustment 616 616 59,377 389 59,377 389 29,527 29.527 185,040 185,040 Page 17

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Icontlnuedl Promoting the Knowledge, Understandi ng and Appreciation of Music 2022 Total funds 2022 Insuran Legal expenses IT expenses Audit & accountsncy Advertising and marketing Travel costs Website costs Sundry expenses Subscriptions Training Consultancy Bank fees 564 564 1.250 158 2.905 54, 762 7.553 3,408 1,722 515 1,250 158 2,905 54,762 7,553 3,408 1,722 515 760 760 47,523 56 47,523 56 121. 176 121,176 Independent examiner's remuneration 2023 2022 Fees payable lo the Charity's independent examiner for the preparation and Independent examinabon of the Charity's annual accounts 2,250 1.750 Trustees. remuneration and expenses During the year, no Trustees re￿iVed any remuneration or other benefits (2022- £NIL). During the year ended 31 December 2023, no Trustee expenses have been incurred (2022- £NILJ. Page 18

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Debtors 2023 2022 Due within one year Trade debtors Other debtors 9,596 2,070 Prepayments and accrued income 167,937 177,533 2.070 10. Credltors: Amounts falllng due wlthln one year 2023 2022 Trade creditors 81,489 19,159 15,570 15,731 Other taxation and social security Accruals and deferred income 1.700 116,218 17.431 Page 19

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Statement of funds Statement of funds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expendlture Unrestricted funds General Funds - all funds 4,586 613,125 {507,5651 110.146 Page 20

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Statement of funds (contlnuedl Statement of funds - prlor year Balance at 31 December 2022 Balancg al l January 2022 Income Expenditure Unrestricted funds General Funds - all funds 8, 740 321,608 (325, 762) 4,586 12. Summary offunds Summary offunds - current year Balance at 31 December 2023 Balance at 1 January 2023 Income Expenditure General funds 4.586 613,125 {507,5651 110.146 Summary offunds - prior year Balan￿ at 31 December 2022 Balance at l January 2022 Incon7e Expenditure General funds 8. 740 321,608 (325, 762) 4,586 Page 21

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13. Analysls of net assets between funds Analysls of net assets between funds - current year Unrestrlcted funds 2023 Total funds 2023 Current assets Creditors due within one year 226,364 226.364 1116,2181 1116,2181 Total 110,146 110.146 Anatysls of net assets between funds - prlor year Unrestricted funds 2022 Total funds 2022 Current assets Creditors due within one year 22,017 (17,431) 22,017 {IT.431) Total 4, 586 4.586 14. Reconeiliation of net movement in funds to net cash flow from operating aetivities 2023 2022 Nel incomelexpendilure for the year {as per Statement of Financial Acb"vities1 105,560 (4. 154) Adjustments for: Decreasellincreasel in debtors Increase in creditors 1175,4631 98,787 723 14,550 Net cash provided by operating activities 28,884 11.719 Page 22

CHROMATICA ORCHESTRA LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Analysls of cash and cash equlvalents 2023 2022 Cash in hand 48,831 19,947 Total cash and cash equivalents 48,831 19.947 16. Anatysls ofchanges In net debt At1 January 2023 Cash flows At31 December 2023 Cash al bank and in hand 19,947 28,884 48.831 19,947 28,884 48,831 Page 23