**Charity number: 1112508** ## **THE FIDELIO CHARITABLE TRUST** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2025** ## **THE FIDELIO CHARITABLE TRUST** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 4| |**Independent examiner's report**|5| |**Statement of financial activities**|6| |**Balance sheet**|7| |**Notes to the financial statements**|8 - 19| **THE FIDELIO CHARITABLE TRUST** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025** |**Trustees**|Jennifer Wingate, Trustee| |---|---| ||Robert Boas, Trustee| ||Elizabeth Rantzen, Trustee| ||Patricia Morison, Trustee| ||Barbara Arnold, Trustee| |**Charity registered**
**number**
1112508
**Principal office**
Marine House
151 Western Road
Haywards Heath
West Sussex
RH16 3LH
**Accountants**
GMBC LLP
Chartered Tax Advisers and Accountants
Marine House
151 Western Road
Haywards Heath
West Sussex
RH16 3LH
**Bankers**
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
**Solicitors**
Berwin Leighton Paisner LLP
Adelaide House
London Bridge
London
EC4R 9HA|| Page 1 **THE FIDELIO CHARITABLE TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025** The Trustees present their annual report together with the financial statements of The Fidelio Charitable Trust for the period 1 April 2024 to 31 March 2025. ## **Objectives and activities** ## **a. Policies and objectives** The charity's objects are the advancement of education of the public in the arts and in particular in music, including opera, Lieder, composition and dance. Each year the Trustees review the objectives to ensure they continue to reflect the charity's aims. In carrying out this review the Trustees consider the Charity Commission's general guidance on public benefit and in particular its supplementary public guidance on the advancement of education for public benefit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Activities undertaken to achieve objectives** The charity aims to support individual performers and artists who have been recommended by persons with appropriate expertise. ## **c. Grant-making policies** Financial need and ability are the criteria for awarding grants. ## **Achievements and performance** ## **a. Review of activities** We give priority to those who are still early in their careers in the Arts, and do not generally consider applications for activities involving people under the age of 21, or for course fees or capital items. During 2024-2025, the Trust continued to receive more deserving applications that it can support. Our finances normally allow us to make between 16 and 20 grants at each meeting. We regret that we are unable to tell unsuccessful applicants that we cannot support them. It is stated on our website that we aim to inform those who have been successful within two months of the relevant closing date. Those who do not hear by then should assume that they have been unsuccessful. ## **b. Investment policy and performance** The Trustees' investment policies are governed by the trust deed which permits the funds available to be invested in a wide range of securities and assets. The Trust's quoted securites have been managed by Ruffer LLP and the policy has been to maximise return from a portfolio invested in low risk securities. After the end of the year, in July 2025, the Trust's investments were moved to Troy Asset Management. Page 2 **THE FIDELIO CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** It is the policy of the Trustees to retain a fund of sufficient value to maintain adequate grant making capacity for the future. The Trustees wish to safeguard the charity's ability to support beneficiaries in the future and aim to continue achieving this by judicious management of its resources. ## **Structure, governance and management** ## **a. Constitution** The Fidelio Charitable Trust is a registered charity, number 1112508. The charity was established by A J Wingate, J M Wingate and J R S Boas and was established by a charitable Trust deed on 1 November 2005. ## **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 Trust deed. ## **c. Organisational structure and decision-making policies** The charity has five trustees and one paid administrative assistant. ## **d. Financial risk management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, including financial and cyber fraud and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Page 3 **THE FIDELIO CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** ## **Statement of Trustees' responsibilities** The Trustees 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). The law applicable to charities in England & 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to 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 at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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. 26/11/2025 Approved by order of the members of the board of Trustees on and signed on their behalf by: _________________________________________________ Jennifer Wingate Robert Boas **Jennifer Wingate** Trustee **Robert Boas** Trustee Page 4 ## **THE FIDELIO CHARITABLE TRUST** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025** ## **Independent examiner's report to the Trustees of The Fidelio Charitable Trust ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 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 state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: Graham Hole Dated: 25 November 2025 ## **GMBC LLP** Chartered Tax Advisers and Accountants Marine House 151 Western Road Haywards Heath West Sussex RH16 3LH Page 5 ## **THE FIDELIO CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** |**Note**
**Income from:**
Investments
3
**Total income**
**Expenditure on:**
Raising funds:
4
_._ Investment management fees
Charitable activities:
7
Grant funding
_._ Support costs
**Total expenditure**
**Net expenditure before net gains/(losses) on**
**investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**27,417**
**27,417**
**-**
**84,000**
**4,557**
**88,557**
**(61,140)**
**9,985**
**(51,155)**
**889,412**
**(51,155)**
**838,257**|**Total**
**funds**
**2025**
**£**
**27,417**
**27,417**
**-**
**84,000**
**4,557**
**88,557**
**(61,140)**
**9,985**
**(51,155)**
**889,412**
**(51,155)**
**838,257**|_Total_
_funds_
_2024_
_£_
_21,871_
_21,871_
_(49)_
_85,500_
_5,098_
_90,549_
_(68,678)_
_(90,235)_
_(158,913)_
_1,048,325_
_(158,913)_
_889,412_| |---|---|---|---| The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 19 form part of these financial statements. Page 6 ## **THE FIDELIO CHARITABLE TRUST** ## **BALANCE SHEET AS AT 31 MARCH 2025** |**Note**
**Fixed assets**
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Unrestricted funds
14
**Total funds**|**-**
**11,268**
**11,268**
**(1,700)**|**2025**
**£**
**828,689**
**828,689**
**9,568**
**838,257**
**838,257**
**838,257**
**838,257**|_30,101_
_13,261_
_43,362_
_(31,990)_|_2024_
_£_
_878,040_| |---|---|---|---|---| |||||_878,040_
_11,372_| |||||_889,412_| |||||| |||||_889,412_| |||||_889,412_| |||||| |||||_889,412_| The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by: _________________________________________________ ## **Jennifer Wingate Robert Boas** Trustee Trustee The notes on pages 8 to 19 form part of these financial statements. Page 7 ## **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **1. General information** The Fidelio Charitable Trust is a registered charity number 1112508 and the address of the charity is Marine House, 151 Western Road, Haywards Heath, West Sussex, RH16 3LH. The principal object of the charity is the advancement of education of the public in the arts and in particular in music, including opera, Lieder, composition and dance. ## **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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Fidelio Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## **2.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. Page 8 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. Accounting policies (continued)** ## **2.3 Expenditure (continued)** All expenditure is inclusive of irrecoverable VAT. ## **2.4 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.5 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. ## **2.6 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.7 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term 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. ## **2.8 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it 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 at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at 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 at 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. ## **2.9 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 9 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **2. Accounting policies (continued)** ## **2.10 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. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Investment income** |**Unrestricted**
**funds**
**2025**
**£**
Income from UK listed investments
27,063
Income from non UK listed investments
-
Income from Government and fixed interest securities
100
Interest on cash deposits
254
**Total 2025**
27,417
_Total 2024_
_21,871_|**Total**
**funds**
**2025**
**£**
**27,063**
**-**
**100**
**254**
**27,417**
_21,871_|_Total_
_funds_
_2024_
_£_
_20,941_
_502_
_185_
_243_| |---|---|---| |||_21,871_| |||| ## **4. Investment management costs** |**Unrestricted**
**funds**
**2025**
**£**
Investment management fees
-
_Total 2024_
_(49)_|**Total**
**funds**
**2025**
**£**
**-**
_(49)_|_Total_
_funds_
_2024_
_£_
_(49)_| |---|---|---| |||| Page 10 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **5. Analysis of grants** |Advancement of education of the public in the arts
_Total 2024_|**Grants to**
**Institutions**
**2025**
**£**
84,000
_85,500_|**Total**
**funds**
**2025**
**£**
**84,000**
_85,500_|_Total_
_funds_
_2024_
_£_
_85,500_| |---|---|---|---| ||||| Page 11 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **6. Analysis of grants awarded** ||**2025**| |---|---| ||**£**| |Waterperry Opera Festival|**2,000**| |Bampton Classical Opera|**1,000**| |Brecon Beacons Music Trust|**1,000**| |Brecon Choir Festival|**1,000**| |Chamber Music Tours Scotland|**1,000**| |ChamberStudio|**3,000**| |Charles Wood Festival Of Music|**1,500**| |Clonter Farm Music Trust|**1,500**| |English National Opera|**3,000**| |English Touring Opera|**2,000**| |Ex Cathedra|**2,500**| |Garsington Opera|**2,000**| |Gustav Mahler Society UK|**2,000**| |Halle Concerts Society|**2,500**| |Two Moors Festival|**1,500**| |HGO Trust|**2,000**| |Highgate International Chamber Music Festival|**2,000**| |International Guitar Foundation|**1,500**| |Lake District Music|**2,000**| |Leeds International Piano Festival|**2,500**| |Leicester International Music Festival|**1,000**| |London Handel Society|**1,500**| |Longborough Festival Opera|**2,000**| |Manchester Collective|**1,500**| |National Opera Studio|**3,000**| |Opera Holland Park|**3,000**| |Oxford Lieder|**2,000**| |Presteigne Festival|**1,500**| |Royal Liverpool Philharmonic|**1,500**| |Samling Institute for Young Artists|**3,000**| |RNCM Awards Fund|**-**| |Scottish Chamber Orchestra|**1,500**| |Scottish Opera|**2,500**| |Sinfonia Smith Square|**1,000**| |SongEasel|**2,000**| |Southwell Music Festival|**2,500**| |Tertis & Aronowitz International Viola Competitions|**2,500**| |Tete a Tete Productions Ltd|**2,500**| Page 12 ## **THE FIDELIO CHARITABLE TRUST** |**NOTES TO THE FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**|| |---|---| |The Mozartists
Topsham Music Festival
Whittington Music Festival
Wild Arts
Winchester Chamber Music Festival
Wye Valley Chamber Festival
Northern Ireland Opera
**Sub-total**
**Total**|**2,000**
**500**
**2,000**
**2,000**
**1,000**
**1,500**
**3,000**
**84,000**
**-**
**84,000**| Page 13 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **7. Analysis of expenditure on charitable activities** ## **Summary by fund type** |**Unrestricted**
**funds**
**2025**
**£**
Advancement of education of the public in the arts
88,557
_Total 2024_
_90,598_|**Total**
**2025**
**£**
**88,557**
_90,598_|_Total_
_2024_
_£_
_90,598_| |---|---|---| |||| ## **8. Analysis of expenditure by activities** |Advancement of education of the public in the
arts
_Total 2024_|**Grant**
**funding**
**activities**
**2025**
**£**
84,000
_85,500_|**Support**
**costs**
**2025**
**£**
4,557
_5,098_|**Total**
**funds**
**2025**
**£**
**88,557**
_90,598_|_Total_
_funds_
_2024_
_£_
_90,598_| |---|---|---|---|---| |||||| Page 14 ## **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **8. Analysis of expenditure by activities (continued)** ## **Analysis of support costs** |Website
Administration
Subscriptions
Accountancy
Bank charges
**Total 2025**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|**Total**
**funds**
**2025**
**£**
**315**
**3,275**
**47**
**860**
**60**
**4,557**
**2025**
**£**
**840**|_Total_
_funds_
_2024_
_£_
_488_
_3,675_
_35_
_840_
_60_| |---|---|---| |||_5,098_| |||_2024_
_£_
_840_| ## **9. Independent examiner's remuneration** ## **10. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ . During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ . Page 15 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **11. Fixed asset investments** |**Cost or valuation**
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025|**Listed**
**investments**
**£**
**1,101,411**
**27,163**
**(100,997)**
**(198,888)**
**828,689**| |---|---| ## **Investments at market value comprise:** |Listed investments
All the fixed asset investments are held in the UK.
**Net (losses)/gains on investments**
Unrealised investment gains/losses
Realised investment gains/losses
**Total**|**2025**
**£**
**828,689**
**828,689**
**2025**
**£**
**24,483**
**(14,498)**
**9,985**|_2024_
_£_
_878,040_
_878,040_
_2024_
_£_
_(161,745)_
_66,909_
_(94,836)_| |---|---|---| Page 16 ## **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **12. Debtors** |**Due within one year**
Other debtors|**2025**
**£**
**-**
**-**|_2024_
_£_
_30,101_| |---|---|---| |||| |||_30,101_| ## **13. Creditors: Amounts falling due within one year** |Accruals
Grants accrued - institutional|**2025**
**£**
**1,700**
**-**
**1,700**|_2024_
_£_
_1,890_
_30,100_| |---|---|---| |||| |||_31,990_| Page 17 ## **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **14. Statement of funds** ## **Statement of funds - current year** ||||||**Balance at**| |---|---|---|---|---|---| ||**Balance at 1**|||**Gains/**|**31 March**| ||**April 2024**|**Income**|**Expenditure**|**(Losses)**|**2025**| ||**£**|**£**|**£**|**£**|**£**| |**Unrestricted funds**|||||| |General Funds|**889,412**|**27,417**|**(88,557)**|**9,985**|**838,257**| |**Statement of funds - prior year**|||||| ||||||_Balance at_| ||_Balance at_|||_Gains/_|_31 March_| ||_1 April 2023_|_Income_|_Expenditure_|_(Losses)_|_2024_| ||_£_|_£_|_£_|_£_|_£_| |**Unrestricted funds**|||||| |General Funds|_1,048,325_|_21,871_|_(90,549)_|_(90,235)_|_889,412_| Page 18 **THE FIDELIO CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2025**
**£**
Fixed asset investments
828,689
Current assets
11,268
Creditors due within one year
(1,700)
**Total**
838,257|**Total**
**funds**
**2025**
**£**
**828,689**
**11,268**
**(1,700)**
**838,257**| |---|---| ## **Analysis of net assets between funds - prior year** |Fixed asset investments
Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_878,040_
_43,362_
_(31,990)_
_889,412_|_Total_
_funds_
_2024_
_£_
_878,040_
_43,362_
_(31,990)_
_889,412_| |---|---|---| ## **Signature:** Bob Boas (Nov 25, 2025 13:56:04 GMT) **Email:** boasb1@outlook.com ## **Signature:** Jennifer Wingate Jennifer Wingate (Nov 25, 2025 18:51:05 GMT+1) **Email:** jenniferwingate@me.com Page 19 ## Fidelio Charitable Trust 2025 Accounts Final Audit Report 2025-11-25 Created: 2025-11-25 By: Graham Hole (graham@gmbc.uk) Status: Signed Transaction ID: CBJCHBCAABAACHb96USHiHERweTa8gZm4TuHsR6xFk4- ## "Fidelio Charitable Trust 2025 Accounts" History Document created by Graham Hole (graham@gmbc.uk) 2025-11-25 - 10:45:40 AM GMT Document emailed to Bob Boas (boasb1@outlook.com) for signature 2025-11-25 - 10:45:45 AM GMT Document emailed to Jennifer Wingate (jenniferwingate@me.com) for signature 2025-11-25 - 10:45:45 AM GMT - Email viewed by Bob Boas (boasb1@outlook.com) 2025-11-25 - 1:53:21 PM GMT - Document e-signed by Bob Boas (boasb1@outlook.com) Signature Date: 2025-11-25 - 1:56:04 PM GMT - Time Source: server Email viewed by Jennifer Wingate (jenniferwingate@me.com) 2025-11-25 - 5:47:24 PM GMT Document e-signed by Jennifer Wingate (jenniferwingate@me.com) Signature Date: 2025-11-25 - 5:51:05 PM GMT - Time Source: server Agreement completed. 2025-11-25 - 5:51:05 PM GMT