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← Orchestras Live

2025-03-31-accounts

Registered Company Number: 5988211 (England and Wales) Registered Charity Number: 1117211

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ORCHESTRAS LIVE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 3
Report of the Independent Auditors 25
Statement of Financial Activities 28
Balance Sheet 29
Statement of Cash Flows 30
Notes to the Financial Statements 31

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Charities Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ in accordance with the applicable Financial Reporting Standard FRS 102, effective January 2019.

INCORPORATION

The charitable company was incorporated on 3 November 2006 and commenced trading on 1 April 2007.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

5988211 (England and Wales)

Registered Charity number

1117211

Registered Office

3 Sheaf Street Leeds LS10 1HD

During the year a secondary administrative presence was retained at: The Music Base, Kings Place, 90 York Way, London N1 9AG

Trustees

Musician and Educator NHS Chief Medical Officer (executive director) Hospital Arts Manager Conductor and Music Director Finance and Arts Community Engagement Consultant Commercial Vice President Investment Banker Governance and Compliance Consultant Projects and Partnership Manager Broadcasting Academic BBC Orchestra Director Arts Manager Chartered Accountant

Company Secretary Nancy Buchanan

Chief Executive Sarah Derbyshire

Auditors

DJH Audit Limited St George’s House 56 Peter Street Manchester M2 3NQ

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Our vision is that ‘Orchestras are for Everyone’ and that everyone has the opportunity to enjoy the life-enhancing benefits of orchestral music.

Our mission is to engage people of all ages and backgrounds, particularly those in historically under-invested, non-metropolitan communities in England, in creating work that harnesses the transformative power of orchestral music to inspire, bring joy and support wellbeing; and advocate for the personal and social value of these experiences for people and communities facing hardship and exclusion.

We have 60 years’ experience developing creative partnerships between communities and orchestras to co-produce joyful, inclusive, high quality orchestral experiences through Creative Partnerships, Workforce Development, Evaluation and Impact, and as a thought leader and convener. Our approach supports resilience and secures a legacy for the innovative work that we undertake, leaving lasting impact in the communities with whom we work and leading positive change in the sector.

Our primary beneficiaries are audiences and participants, i.e. those with whom we engage in live orchestral experiences through projects, workshops and performances with a focus on children and young people, families, older people, vulnerable people and marginalised groups. Our co-productions provide frameworks for collaboration and co-creation. Our inclusive approach ensures that all involved have a creative voice; our projects respond to the priorities of under-invested communities.

In turn, this work brings direct and distinctive benefits to our stakeholder partners: the country’s leading professional chamber and symphony orchestras, promoters (including venues both traditional and unexpected), local authorities, Music Hubs, academic institutions, Local Cultural Education Partnerships (LCEPs), community organisations, museums, heritage and cultural organisations libraries, public sector/cultural consortia, health and social care providers amongst others. Through their work in partnership with us they develop new models, reinforce their own organisations, support inclusive practice and skills development within their workforce and help drive best practice in the orchestral sector to break down barriers where historic structural inequities have perpetuated barriers to access.

Our Objects, taken from the Memorandum and Articles of Association as incorporated 3 November 2006, are to:

This report covers our Business Plan for 2024/25, the second year of a multi-year funding period as a National Portfolio Organisation (NPO) of Arts Council England.

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OUR WORK DURING 2024/25

Public Benefit

The trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding what activities the charity should undertake, a summary of which is given below.

In 2024/25 Orchestras Live continued to play a vital role in bringing excellent orchestral music to culturally under-served audiences and communities throughout England. We continue to think how things could be done differently to develop new kinds of creative and artistic collaborations, and to broaden audiences and cultural participation.

We focus on excellent, live orchestral experiences whilst remaining live to the opportunities of a hybrid approach, blending digital and live platforms. In this way our high quality, inclusive orchestral experiences and events engage a wide range of people in under-invested locations. Responses illustrate the power of music to connect people across divides and in uncertain times.

During the year we maintained our relationships with 39 locally based partners. In collaboration with other stakeholders, together we delivered 46 projects and concerts engaging people in 30,936 orchestral experiences across England. Our events featured 18 professional orchestras through a combination of creative workshops, live performances, live streams, digital/hybrid productions and online interactions.

In addition, we reached 4,652 users during the year via our website, which recorded 7,816 sessions. Our monthly e-news was sent to an average of 660 subscribers, while our topical Tea Break films had 3,055 views across the year.

69% of our activity partners said that they would not have produced their coproduced activity in 2024/25 without us. 95% of activity partners in 2024/25 said Orchestras Live had positively impacted their practice.

“Our Orchestras Live Partnership is an integral part of our outreach delivery. Helping facilitate the development of new and ongoing partner relations, sharing expertise around new and emerging artists, and underpinning programmes of activity with rigorous evaluation frameworks that enable us to develop more ambitious and relevant creative projects.” Katie Lucas, Sinfonia Viva (2024 Partner Survey feedback)

All of our work is about making the incredible music, artistry and skills of renowned British professional orchestras accessible to all sectors of society. Community and artistic partners benefit from our distinctive focus on community consultation and engagement, enabling them to consider how orchestras can best contribute to community cohesion and wellbeing. Orchestras can play a role in building confidence amongst people of any age to engage with each other, with their locality and with cultural activity.

This level of quality, inspiration and creativity has a profound effect on the participants in Orchestras Live’s events and projects as well as bringing related societal benefits to their locations.

Measuring social value

Over the past year, social value has become central to Orchestras Live’s business innovation work, directly supporting our mission to ensure that orchestral music reaches communities and individuals who would not otherwise experience it.

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Through our sector-leading Social Value Pathfinders programme, we are equipping organisations with the tools and skills to capture, evidence and communicate the full public benefit of their work. This not only helps them to strengthen their own advocacy and sustainability in a changing funding environment but also enables us to articulate more clearly how orchestral activity contributes to wellbeing, social cohesion, education and local economies.

This year, we have built new partnerships and expanded the practical application of social value across our programme. Examples include: Philharmonia Orchestra, exploring the wellbeing impacts of participatory music-making through their Hear & Now project; Moving Music Concerts, supporting people living with dementia and their carers; Citizens of the World Choir, offering creative community for displaced people and their allies; Rochford District Council, who are embedding music into local health and wellbeing initiatives; and the National Centre for Early Music, focusing on inclusive participation opportunities. Reflecting on this work, Rochford District Council has said:

“Orchestras Live's invaluable evaluation and partnership with Social Value Engine has enabled us to better understand the health, wellbeing and social impact of our project. This insight will be crucial to demonstrate the social return on investment to funders as we seek to secure further funding to move the project forwards.”

This work would not have been possible without the long-standing partnership with East Riding of Yorkshire Council through Classically Yours. East Riding, as co-developers of the Social Value Engine with Rose Regeneration, provided an ideal setting to pilot our first full Social Return on Investment (SROI) calculation within a live Orchestras Live project. Throughout this work, we continue to build the confidence of our partners to take ownership of their social value narratives. As one recent webinar participant commented:

“As long as we have identified our own outcomes as an organisation, we can use this tool to measure against these.”

We are strengthening Orchestras Live’s role as a national leader by showing how orchestral music can make a positive difference in people’s lives. This further supports our partners to access new funding and influence policy. Our work in social value is gaining wider recognition, with regular invitations to speak at major events like the ABO Conference 2025, and through requests for our support in measuring impact – such as our role as evaluation partner for Wandering Minstrels , a year-long creative health project at Derby Hospitals. Demonstrating the social value of our work helps us tell a more powerful story and is increasingly important for attracting support and extending the reach of our national programme.

Cultural communities

The following examples show the wide range of musical experiences we and our partners developed with people across England in 2024/25.

Evidence[1][2] shows that inherent inequalities experienced by individuals and groups prevent them from accessing high quality orchestral experiences as participants and audiences. Through a nationally significant network of sustainable local and regional partnerships, we prioritise work with people whose communities have suffered historic under-investment, one of

1 Fancourt D, Mak HW (2020) What barriers do people experience to engaging in the arts? Structural equation modelling of the relationship between individual characteristics and capabilities, opportunities, and motivations to engage. PLoS ONE 15(3): e0230487. https://doi.org/10.1371/journal.pone.0230487

2 Brook, O., O'Brien, D., & Taylor, M. (2020). Culture is Bad for You: Inequality in the Cultural and Creative Industries . Manchester University Press.

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the consequences of which is a lack of infrastructure or context to realise their full creative potential. Arts Council England’s 2019 publication on Arts, culture and rural communities states that ‘predominantly rural’ areas have experienced the greatest decline in cultural spend, at 32.7%[3] In 2024/25, 35% of Orchestras Live’s activity budgets and 44% of our Production team’s time targeted local authority areas within Arts Council England’s designated Levelling Up for Culture Places, identified using data relating to Arts Council investment, public engagement with culture and creativity, deprivation, children and young people, ethnicity, and disability.

Our co-productions place the emphasis on co-creation and co-curation, working with not for local communities, giving people a stake in their cultural programmes and challenging the orchestral sector to be radical and relevant.

We embrace our participants’ creativity and champion the relevance of their work alongside orchestras’ standard repertoire, fostering a broader understanding of new music and digital productions amongst the profession and communities alike.

This approach has been reinforced by the introduction of three regionally based Community Impact Coordinators from 2023/24. Their role is to support the Producer team in deepening impact and growing partnerships in their respective regions. Analysis of the impact of these new roles over their first year has indicated that they bring the following benefits to partners and communities:

Overall, the CICs have enabled:

In 2024/25:

3 AMP and Bloom Arts consultancy (2024) Gone in the Air: musical opportunities in rurally isolated England.

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CASE STUDY

Voices of Bolsover

Now in its second year, Voices of Bolsover exemplifies our long-term commitment to nurturing relationships and amplifying community voice across the Bolsover District. Building on the foundations laid in 2023, this year’s programme expanded both in reach and depth, bringing world-class orchestral experiences directly into former mining villages through a network of trusted local partners.

Working with Music in the Round and ensembles including the Bridge Ensemble and Consone Quartet, we co-created joyful, accessible orchestral encounters with communities in Doe Lea, Glapwell, and New Houghton. A strategic shift to focus on local venues enabled us to meet people where they are, fostering cohesion, participation, and pride.

“Whatever anyone decided to sing or play … was never wrong because everyone[s] opinion is different so everyone was encouraged [in] their own expression which is good for the community.” C ommunity participant

In the first delivery phase, a three-day residency in Doe Lea and Glapwell culminated in a packed community concert and the spontaneous formation of a local choir. In the second phase, we extended our reach to New Houghton, reactivating underused community spaces through inclusive workshops and performances.

“It’s been wonderful to see our centre full of music and laughter again.” Community partner

This year’s outcomes reflect the power of sustained engagement:

“Working with Orchestras Live is opening up the ability to work with new communities who are geographically close to us but with whom we don’t usually engage. Having developed composition training in schools, this has given the opportunity to adapt it to community settings.” Orchestral partner

As relationships evolve and partnerships strengthen, Voices of Bolsover is laying the groundwork for a sustainable creative infrastructure in the East Midlands – rooted in local identity, co-creation, and cultural equity.

Inspiring Children and Young People

We produce first-time and pathway orchestral experiences for children and young people that incorporate young people’s voice. We encourage partners to innovate, and offer progression opportunities that are inclusive and support children to achieve their potential and develop a lifelong love of music.

Our projects engage children and young people in creative activity that supports their wellbeing, adds value to a curriculum in which music is under threat, and enables them to explore contemporary issues in relation to society, wellbeing and environmental responsibility.

In line with our regional development strategy, we build strategic partnerships with Music Hubs, youth-focused charities and organisations, and Local Cultural Education Partnerships to target cold spot areas.

“OL has enabled us to develop a diverse, inspiring and high-quality musical offer for early years audiences, rural communities and online communities. It has motivated us to continue to bring music to often neglected audiences, without compromising on quality” Sarah McWatt, AMP (2024 Partner Survey feedback)

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During the year we collaborated with 14 Music Hubs, engaging with children from the early years in 143 mainstream and 11 special schools, and involving families and carers in their children’s experience.

CASE STUDY

ENERGY: Young voices powering change through music

In East Riding of Yorkshire, young people took centre stage to explore the climate crisis through music and science. ENERGY, a dynamic project conceived by Sinfonia Viva and delivered as part of the Classically Yours programme, empowered students to express their hopes and concerns about the planet in their own words and melodies.

Launched with an inspiration day at Bridlington Spa in September 2024, 128 students co-created five original songs with composer James Redwood. Their music was bold, urgent, and deeply personal. In parallel, 315 students from nine additional schools learned the songs in workshops, preparing for a powerful final performance.

In October, two concerts brought together students and Sinfonia Viva in front of school and public audiences—13% of whom had never experienced live arts before. One young participant said: “We still use fossil fuels and we need to stop – because hope is here.”

The project’s reach extended far beyond the concert hall. A filmed performance streamed nationally via AMP and five Music Hubs reached over 7,500 viewers. One-third of schools engaged with the stream multiple times, using cross-curricular resources to spark further learning. In Nottinghamshire, the stream inspired a new live project, with Suffolk set to follow in 2025.

Teachers and students reported increased confidence, creativity, environmental awareness, and cultural capital. The project contributed to six UN Sustainable Development Goals and generated £7.61 of social value for every £1 spent .

“Music is the world’s language – it delivered the message better than the news.” Audience member

“I absolutely whole-heartedly loved every minute. The power of music is amazing.” East Riding teacher

Improving Health and Wellbeing

We create projects that use the power of live music to support individuals to live well and engage fully in their communities. In 2024/25, 82 % of our surveyed audiences and participants said taking part in our projects/attending our events had a positive impact on their mental wellbeing; 90% reported increased feelings of belonging or feeling part of their community. With local and regional partners, we design developmental, bespoke work to address issues including dementia, loneliness, mental health and marginalisation.

“Being around others with the same abilities as myself has given me a feeling that I am not alone and I have done things here that would never have done before. I feel happy with myself and am feeling more positive about my future.” Good Company participant living with dementia.

“For me personally as a carer it's my mental health. Before the project, I felt burnt out and overwhelmed, now I feel refreshed and more like me again.” Good Company participant caring for a loved one living with dementia

During the year we have continued our role as convener of an informal working group to promote better understanding and collaboration between the orchestral and healthcare sectors – Orchestras in Healthcare. The group comprises representatives of the Association of British Orchestras, National Association for Arts in Hospitals (NAHN), BBC Concert Orchestra and Orchestras Live. Its work engages with a network of health and social care providers, national

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bodies including Creative Health and Wellbeing Alliance and the National Centre for Creative Health and government departments.

Our programme in 2024/25 delivered work with many different communities, in small and large-scale care settings and in isolated communities where loneliness is a common and debilitating experience for many.

CASE STUDY

Sudbury Sounds

Sudbury Sounds was designed to meet the needs and aspiration of vulnerable adults and older people. Produced through the partnership between Orchestras Live and Babergh District Council, contributing to the Council’s Health & Wellbeing Strategy, the project focused on developing the creative potential and skills of learning-disabled adults at The Bridge Project CIC whilst engaging and inspiring older people, including those living with dementia, at three care settings.

In June and July 2024, a team of musicians from Sinfonia Viva led by Jessie Grimes held a series of workshops with the participant groups, singing songs, listening and dancing to live music, and cocreating material which Jessie orchestrated for a larger ensemble. The culmination was a joyful celebration concert in which the participants performed their new songs alongside Sinfonia Viva for an audience of more than 90 people at Sudbury Arts Centre.

“Mother has Alzheimer's – this should be happening in every town across the country. Such a joy to see all the participants making music together.” Audience feedback

Crucially, the project empowered staff at the various settings to continue music-making beyond the workshops. This aim for sustainability was enhanced by the inclusion of two locally based community musicians in the workshop team.

Another outcome was that participants formed connections with people outside their usual circle, fostering greater empathy, respect and understanding, valuing individuals’ differences and promoting dignity, equality and inclusion.

100% of participants said “Taking part had a positive impact on my mental wellbeing”

“I liked listening to music I’ve never heard before.” Participant feedback

Sudbury Sounds left a legacy of music, memories, joyful connections and increased confidence for all involved.

Workforce development

We are committed to investing in training for music leaders and musicians, and nurturing new talent entering the sector. We aim to support the development of a diverse orchestral workforce, maximising access and opportunity and retaining local skills for the delivery of orchestral experiences of the highest quality.

In 2024/25, of survey respondents who participated in workforce development-focused projects New Connections (student music leaders) and Able Orchestra, 100% agreed "It contributed to the development of my arts practice or business" and 71% agreed "It opened up new opportunities for me".

“This was valuable experience as there were so many different organisations involved and different methods for working and learning that I was able to experience." Student music leader, New Connections

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Over the past year we have incorporated tailor-made skills development opportunities into project delivery to address a range of issues which vary from project to project. We have deepened our role as a sector leader regarding workforce development and diversity.

CASE STUDY

Developing the orchestral workforce through creative engagement

Orchestras Live continues to play a vital role in shaping a resilient, inclusive orchestral workforce by embedding skills development into project delivery. Over the past year, we have supported emerging and established music leaders, student musicians, and disabled artists to grow their practice in participatory and creative contexts.

In Essex, our Good Company dementia care programme enabled two assistant music leaders to develop specialist skills in collaborative arts. Their progression led to them taking full leadership of the music strand by autumn 2024, contributing to Brentwood Theatre’s emergence as a creative hub for people with dementia.

In Nottinghamshire, we deepened our long-standing partnership with Inspire Youth Arts and Able Orchestra. The new Able Orchestra Pioneers group—comprising founder and new members—co-led a residency with Orchestra of the Swan, culminating in a powerful co-composed piece, Spring Awakened.

“The collaboration helps network with other artists… this will give me more opportunities in the music industry.” Able Orchestra Pioneer

Our Culture Sounds action-research project with Sinfonia Viva and Leicestershire Virtual School focused on trauma-informed practice with Unaccompanied Asylum-Seeking Children. Music leaders explored nonverbal communication and inclusive methods of engagement, enriching their practice and organisational awareness.

“It has helped challenge us… to reflect on power dynamics, cultural relevance, and the role of music in identity, healing, and belonging.” Sinfonia Viva Project Manager

Finally, New Connections, our partnership with Leeds Conservatoire and Manchester Camerata, gave students access to a hands-on experience working with young people. Students benefitted from training and real-world experience in orchestral community music-making and co-creation, working closely with highly skilled and experienced professional musicians.

“I feel so much more confident in leading children, communicating with them and working alongside other leaders…. I have made so many connections through this that I fully intend to make the most of to further progress towards my career.” Trainee Music Leader, New Connections 2025

These initiatives demonstrate our commitment to nurturing a diverse, skilled workforce equipped for the orchestras of the future.

Driving inclusion

As a national producer, Orchestras Live is in a unique position to engage orchestras, promoters and investing partners in new approaches to address inequalities of access and opportunity. 74% of partners responding to our 2024 Partner Survey reported that OL has had ‘some’ or ‘significant’ impact on their practice relating to diversity and inclusion over the last 2 years.

“Our feelings around bringing creative opportunities to young people in our area who may be underrepresented in the classical sector or whose lives may be disadvantaged are aligned. This is leading to increasingly ambitious ideas to provide for this group and to question and challenge accepted models of delivery and explore alternatives.” Partner feedback (small arts organisation), 2024 Partner Survey response

“Engagement with BLIM [Black Lives in Music] & Orchestras Live has helped us shape our EDI policy & recruitment practice.” Partner feedback (orchestra), 2024 Partner Survey response

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We are committed to embracing diversity and eliminating discrimination as an employer, as a provider of opportunities and services and within the wider orchestral sector. We aim to create and promote a culture that respects and values individuals’ differences, that promotes dignity, equality, inclusion and diversity, and that encourages individuals to develop and maximise their true potential. This means reflecting critically on issues of diversity and inclusion within all that we do, identifying and taking appropriate action to reduce inequality and improve equity of opportunity.

Our Diversity, Inclusion and Relevance Committee meets quarterly and reports direct to the Board.

Initiatives taken during the year include:

Digital Innovation

Digital technology and its use in the cultural sector was transformed by the response to Covid19. Rapid change continues to offer new opportunities for distribution and extending the reach of live performances, as well as innovative ways to engage with diverse participants. Orchestras Live brings a creative and innovative approach to the creation of digital content and explores presentational approaches, including the combination of live and digital in ‘hybrid’ performances, that can engage new audiences.

CASE STUDY:

Using technology to remove barriers to music-making for disabled people

At Woodlands Secondary School in Luton, digital innovation opened new doors for young people with severe learning disabilities to express themselves through music.

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Through our long-standing partnership with Luton Music Hub, which has focussed on supporting young musicians at different levels of their musical development, a project was designed to support music work at Woodlands Secondary School, the largest community special school in Luton. Orchestras Live brought in City of London Sinfonia (CLS) to deliver a bespoke creative project, drawing on the orchestra’s considerable expertise in working with vulnerable young people. The CLS team was led by composer Gawain Hewitt who designs and incorporates new electronic instruments and tablet apps that help remove limitations in music-making and creativity for disabled people.

Building on the school’s existing work with accessible/electronic instruments such as the Clarion, and introducing acoustic instruments into the blend, Gawain and the CLS players worked with 18 young learners in music making, listening and interaction. The orchestral musicians used improvisation and intuition to connect with and play alongside the learners, whose creative initiatives took the lead.

A culmination performance was presented to an audience of approximately 50 learners and families in the school hall. The CLS ensemble performed the co-created music and also played orchestral pieces that shaped moments of listening. The whole school community was delighted to experience the performance and celebrate the achievements of those involved.

“SLD (Severe Leaning Disabilities) learners...were able to work with CLS musicians, playing with them on their instrument of choice on iPad. Some enjoyed listening, some took the lead and allowed our guests to play along with them, others took part in call and response ensemble playing, while others composed their own melodies where our musical journey evolved into their performance piece. Being able to play with and create a musical journey with such established musicians, where our learners took the lead throughout, was just incredible.” Woodlands School music lead

During the year we adopted a policy on the operational use of AI. We currently allow staff to use AI tools to support and enhance organisational operations and communications. We do not allow AI tools to be used to replace creative production e.g. writing music, creating artwork.

Impact and Insight

Orchestras Live has an outcomes-based approach to its work which is driven by the data we collect and analyse to measure impact, learn from results and share insight. In 2024/25 we further embedded the role of Impact and Insight analysis. Data informs us how effectively our partnerships deliver on business plan objectives, provides the Board with impact analysis and ensures stakeholders benefit from our insight.

In response to our 2024 Partner Survey:

To inform our strategic and project planning, we draw on external sources and internal data:

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We monitor the effectiveness of our activities against planned outcomes through:

We undertake robust internal evaluation and reporting of every project’s performance against its objectives, using detailed reports and analysis to help improve the effectiveness and increase the impact of our work.

CASE STUDY

Building a Social Value Offer for the Sector

Orchestras Live has invested in building our data and evaluation capabilities over several years. This has enhanced our ability to make evidence-based decisions, demonstrate public benefit, and support strategic development. In 2024/25, social value became a particular area of focus, offering a new way to articulate the difference orchestral activity makes to individuals and communities.

What began as an effort to better understand and evidence the impact of our own programmes has developed into a distinctive sector-facing offer as part of our business innovation activities. Drawing on our skills and experience, we now support partners and clients to capture and communicate their social value in ways that strengthen advocacy and unlock funding. The National Centre for Early Music say it has “empowered [them] to make bolder claims about the quality, value, and reach of the work that the NCEM undertakes.”

In line with our values, this work has been shaped through collaboration. Our long-standing relationship with East Riding of Yorkshire Council, co-developers of the Social Value Engine (SVE Ltd), enabled us to pilot our first full Social Return on Investment (SROI) analysis through the Classically Yours programme. Testing the tool in a live project gave us the confidence to offer this to the sector, from the Philharmonia Orchestra to Rochford District Council:

“Orchestras Live’s invaluable evaluation and partnership with the Social Value

Engine has enabled us to better understand the health, wellbeing and social impact of our project.”

Looking ahead, our Social Value Pathfinders programme will further support organisations to embed impact thinking in their work, which in turn will strengthen the case for orchestral music as well as the wider arts and culture sectors.

Communications and Advocacy

Communications is an integral part of all our delivery, from highlighting the profile and impact of our partnership projects to raising our profile within and beyond the orchestral sector and championing the needs of our beneficiaries to national and local decisionmakers.

We maximise the potential of our networks and stakeholder groups – locally, regionally, nationally and internationally – to promote the impact, value and learning from our work.

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In response to our 2024 Partner Survey:

Our advocacy plan aims to raise our profile outside of the immediate orchestral and performing arts sectors. During the year we have continued to build active links with stakeholders and networks in the broader charity sector, national and local government, as well as the health and wellbeing sectors.

Our Communications and Insight & Impact functions are inter-related so that internal and external communications build on impact measurement to support advocacy and business development.

We use a range of communication tools to strengthen Orchestras Live’s brand position, extend and deepen impact through digital distribution and champion under-represented audiences.

Our communications strategy has challenging targets for increasing engagement and reach across our online platforms. Our ebulletin list maintained a relatively stable subscriber base at 1,762 (2023/24: 1,801) subscribers, we had 3,107 Twitter / X followers (2023/24: 3,326) and increased our reach on Instagram with 1,243 followers (2023/24: 1,106) and LinkedIn with 1,668 followers (2023/24: 1,331). Our website reach for the year was 7,816 sessions (2023/24: 10,147) and analytics demonstrate a higher percentage of our website traffic coming from our social media channels and referrals from our regular ebulletins.

Following the launch of our informal Tea Break series in 2020/21, three episodes were produced and published in 2024/25, achieving a total of 3,055 views. Tea Break interviewees included:

Performance Management

We maintain a bespoke IT system to record and analyse all data arising from our work in an integrated reporting format.

The Board of Trustees has access to all governance information through a dedicated intranet.

The Orchestras Live ‘Dashboard’ –measuring our performance against performance indicators related to our Business Plan – is updated quarterly for Board review.

We measured performance against Key Performance Indicators and Progress Indicators in the following areas: Programme Delivery, Impact and Insight, Communications, Income Generation, Governance and Operations (Ambition & Quality; Diversity, Inclusion & Relevance; Dynamism; Environmental Responsibility). Progress has been generally good across all areas; any areas below target/forecast at year end are taken into consideration in planning for the following year.

Self-evaluation takes place on a regular basis through staff meetings and annual appraisals which result in a structured year-round work plan with objectives for each team member. During the year we also surveyed staff regarding their experience of Wellbeing and Development within the organisation. Results have informed initiatives to support a dynamic, resilient staff team and inform our Staff Wellbeing and Development Framework.

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Funding Development and Income Generation

We are delighted to be part of Arts Council England’s National Portfolio, which recognises organisations playing a vital role in making creativity and culture accessible to communities. The initial three-year funding period has been extended to 2026/27.

Whist ACE remains our principal funder, we are still heavily reliant on an array of other sources of public and private income. Support from our trust and foundation partners is particularly critical. Like many other small-medium sized arts organisations, we found the funding climate in 2024/2025 extremely challenging, particularly for core funding. However, we have been grateful for vital funding towards our project costs from trusts and foundations including the East Coast Community Fund, Goole Fields Wind Farm Community Foundation, Hays Travel Foundation, Hull and East Riding Charitable Trust, The BNA Charitable Incorporated Organisation, The Hadfield Trust, The Joseph Boaz Charitable Trust, The Samuel Gardner Memorial Trust and the Woodsmith Foundation. We were also delighted to secure UK Shared Prosperity funding towards our creative health work.

The Orchestras Live team also supported and advised partners on a number of their own fundraising bids for joint work, levering £125,692 of extra local investment into local communities.

Despite the challenging economic environment, we take heart that many local authorities and other investing partners continued to prioritise their relationship with us, with net investment and management fees from partners both well above anticipated levels.

Maximising and diversifying income to support long-term organisational sustainability and resilience continues to be an imperative. To this end, we have developed and adopted a Business Innovation Strategy to support our Business Plan objectives. A Business Innovation Manager was appointed in mid-July 2024 in line with the Business Plan. The role encompasses the design of products and services from the assets and capabilities within Orchestras Live, and the sales and business development work required to bring these to market. Year one focused on designing and testing a service offer around the impact and evaluation expertise, especially social value measurement. Initial targets were modest and growth is expected to be incremental whilst the strategy beds in.

Throughout 2024/25, our senior management and Board of Trustees continued to actively monitor our financial and operational position.

Our sincere thanks go to all our supporters over the past year, without whom our work would not be possible.

Environmental Sustainability

As a charity with a national remit, Orchestras Live recognises its responsibility both to embed and to promote best practice in carbon friendly emissions policies.

Our business model is built on the ethos of collaboration: we work with a network of partners to enhance local orchestral activity that supports shared priorities for social impact, including environmental sustainability. We seek to develop a national infrastructure in which high quality, innovative and engaging orchestral provision thrives, with an orchestral sector that is relevant to its communities and audiences, and environmentally responsible.

As well as these social motivations, we are committed to comply with regulations as they apply to our organisation, and to ensure that we have the capacity to do so.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

In recognition of the current climate crisis, led by our Environmental Responsibility Working Group, we have strengthened our commitment to environmental responsibility across the organisation to take focused action and achieve greater impact.

During 2024/25 key environmental initiatives undertaken included:

Organisation: staff and operational structure

During 2024/25, the appointment of the Business Development Manager increased our staff team to fifteen (12.1 FTE), building on the previous year’s addition of three full-time fixed-term roles resulting from specific funding support. The team is led by the Chief Executive, who reports to the Board of Trustees.

Our structure aims to:

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Our registered office is in Leeds and we have two co-working spaces there and one desk at Kings Place in London. Our cloud-based systems have continued to provide a stable base for OL’s operations. Since April 2022 we have operated a home working/hybrid staff working arrangement designed to maximise economies whilst factoring in environmental considerations, efficient use of time and our premises and staff wellbeing and resilience.

The accountancy firm Lindeyer Francis Ferguson acts as Orchestras Live’s financial managers. They have tailored an accountancy system to Orchestras Live’s needs, enabling a high degree of clarity on the financial affairs of the charity.

We engage the independent company Citation to provide HR and employment advice.

FUTURE PLANS

Orchestras Live has refreshed its Business Plan to cover the period 2025/26 to 2027/28. Over the next three years, we will build on our recent successes in measuring and communicating our impact and providing leadership for orchestral initiatives that bring public benefit.

Strengthening our organisation’s resilience remains a priority, and we will achieve this through a diversified approach to income generation, drawing on the progress made in our previous business plan.

We will focus on three strategic areas:

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Creative Communities

Leadership

Organisation

PRINCIPAL RISKS AND UNCERTAINTIES

The risks and uncertainties faced by Orchestras Live are reviewed on an ongoing basis by the trustees. In addition, the Finance Committee reviews the status of the financial risks at its quarterly meetings, and the full Board reviews the status of all the risks at each meeting. Scenario planning and a related programme of policies, actions and timelines is undertaken regularly.

Risks – and the strategies in place for managing those risks – are assessed for their strategic, financial and operational impact over the next 12 months and in the longer term. The principal risks and uncertainties have been identified as:

Regarding maintenance of long-term funding from our major stakeholder, Arts Council England (ACE), the Board closely monitors performance and how we articulate the close alignment of Orchestras Live’s strategic priorities with ACE’s Investment Principles. Arts Council England currently rates Orchestras Live’s risk to them as a grant-holder as ‘moderate’.

The risks associated with Orchestras Live’s membership of the defined benefit local government pension scheme are primarily managed by forward budgetary provision to accommodate the cash flow implications of addressing any deficit. Members of the specialist pensions team at EY provide us with bespoke advice on all matters relating to our membership of the Essex Pension Scheme, including provision of assumptions to be used under FRS 102 reporting.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Total incoming resources amounted to £1,142,167 (2023/24: £1,134,424) and total resources expended were £1,094,698 (2023/24: 1,114,138) so that there were net incoming resources before tax and other gains/losses of £47,469 (2023/24: net incoming resources of £20,286).

Total funds carried forward at the balance sheet date amounted to £613,672 (2023/24: £618,273, split as follows:

The FRS 102 report at 31 March 2025 identified a surplus in Orchestras Live’s pension fund reserve but incorporates an asset ceiling which leads to a nil value asset on the balance sheet. This aligns with Charity Commission guidance that any surplus or deficit in the pension fund should be excluded when calculating the charity’s free reserves.

During the year, funds not required for short-term working capital purposes were held in deposit accounts with notice periods varying from instant access to 95 days. At 31 March 2025, funds were held with the following institutions: CAF Bank Ltd, Cambridge & Counties Bank, Charity Bank, Hampshire Trust Bank, Hinckley & Rugby Building Society, Redwood Bank and United Trust Bank.

In addition, a deposit of £60,000 is lodged in escrow with Essex County Council in respect of any pension deficit accrued by Orchestras Live.

Orchestras Live has no property or material assets other than cash on deposit.

Reserves Policy

Orchestras Live is a registered charity and does not attempt to generate a surplus. The majority of Orchestras Live’s income is raised through payments for services (charged to local authority and other promoter partners), through grants or contributions from Arts Council England and various Trusts and Foundations and other private and public funding, and from consultancy and commissions.

The majority of this funding is received in advance of expenditure and the interest derived from investment of these funds is a further source of income for Orchestras Live. However, OL is reliant on income streams over which it has limited control and therefore needs to ensure that its core operational costs can be covered for an appropriate period, should any of the income streams be unexpectedly reduced or delayed.

As an ongoing policy, Orchestras Live will therefore aim to maintain unrestricted Reserve Funds sufficient to cover a minimum of the next three months’ operational activity. (budgeted at £183,074 for 2025/26). This figure varies from year to year, is forward looking, and is calculated by dividing by four the total allocation to Overhead expenses in the approved budget for any given year. Free unrestricted funds (funds excluding restricted funds, designated funds and fixed assets) of £178,738 at 31 March 2025 (2024: £186,379) did not quite meet this policy objective, being £4,336 (2.4%) below the level required. The trustees do not consider this to be material and expect to meet the Reserves Policy going forward.

In addition, the trustees continuously assess the risk relating to the financial context in which Orchestras Live operates and its potential impact on the organisation. They have identified the

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

need to ensure that the charity can not only cover its operational expenditure for three months but can also carry out its charitable activities for the same period, while noting that Orchestras Live does not provide essential services to vulnerable beneficiaries. Trustees actively manage the finances of the charity: forecast figures are monitored and financial risks are reviewed formally on a quarterly basis to inform forward financial planning and ensure that a sufficient level of reserves is held.

Trustees have considered Charity Commission guidance on charity reserves and building resilience (CC19 – updated June 2023).

Orchestras Live and its financial services provider Lindeyer Francis Ferguson continue to proactively manage income, expenditure and cash flow projections at a very detailed level. These are reviewed by the Board and the Finance Committee at least quarterly.

Designated Funds

Unrestricted reserves may be classed as ‘designated’ for a specific purpose and are in addition to those required to cover three months’ operational activity.

Partnership Investments made to Orchestras Live by partners are payments for services and therefore unrestricted income. Orchestras Live designates a proportion of this income, whether from the current financial year or previous years, as Partnership Funds for use in specific geographical areas. Partnership Funds are in addition to those required to cover three months’ operational activity.

As a result of an uplift in Arts Council England NPO grant funding for three years from April 2023, three Community Impact Coordinators were appointed in summer 2023 on 3-year fixedterm contracts. The £34k underspend on their employment costs in 2024/25 is carried forward in a designated fund to fund their contracts for the remaining months once the grant funding period ends at 31 March 2026.

To aid clarity on the Statement of Financial Activities, designated funds are listed separately to show the level of available reserves for operational activity.

Restricted Funds

Funds provided to Orchestras Live as grants or charitable donations for a specific purpose are identified separately in the accounts. Care is taken to ensure that such funds are used only for the purpose for which they were provided.

Pension Fund

At the balance sheet date, the pension fund was in surplus by £1,071,000 (2023/24: surplus of £794,000). This valuation under FRS 102 was based on actual data at 31 March 2025. The result represents the charity’s share of assets less liabilities within the Local Government Pension Scheme administered by the Essex Pension Fund and is described in Note 19 to the financial statements. The result is calculated using various actuarial estimates as set out in Note 19. These are based on underlying variables which are outside the charity’s control and which can fluctuate significantly. Should the fund cease to be in surplus, any deficit is partially covered to the extent of £60,000 (2023/24: £60,000) by an escrow bank account in the charity’s name held by Essex County Council.

The Essex Pension Fund’s next triennial review took place at 31 March 2025, with revisions to employer contributions taking effect from 1 April 2026. Orchestras Live’s trustees continue to give careful consideration to the implications of employer contributions when calculating cash flows and setting the annual budget.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Investments

As part of their Financial Management service, Lindeyer Francis Ferguson (LFF) advises Orchestras Live on cash flow, enabling the maximisation of interest receivable on funds held.

Socially Responsible Investing

Orchestras Live believes that a return on investment can be achieved in many ways and may not be purely financial. Trustees also note evolving Charity Commission guidance regarding the ESG risk profile of any investments. Therefore, should the policy of Orchestras Live change at any point in the future, leading to the making of investments in addition to cash deposits, trustees would seek to make reasonable efforts to consider environmental, social and governance factors in their decision making, including but not limited to: the identification of any organisations or individuals that have or facilitate a particularly negative impact on the environment (climate change, resource depletion, waste, pollution, deforestation); on society (human rights, modern slavery, child labour, working conditions, employee relations); or low standards of governance (bribery and corruption, executive pay, board diversity and structure, political lobbying and donations, tax strategy). From the perspective of impact investing, it is also acknowledged that contemporary principles of stewardship and engagement may be preferable to avoidance in many cases; trustees will therefore consider whether there is potential for influence to effect positive change in a company, thereby realising a positive ESG impact.

It is noted that the Essex Pension Fund is a discrete entity and its funds are run via a discretionary mandate.

Trustees have considered Charity Commission guidance on charities and investment matters (CC14 updated August 2023). Potential alternative investment opportunities available to charities are sought and reviewed by the Finance Committee in July each year.

A formal review of the Policy on Reserves and Investments is undertaken by trustees at least annually.

Remuneration Policy

During the year, Remuneration Committee reviewed the Remuneration Policy, which adopts a banded approach, weighed against industry benchmarks, to ensure a fair and anonymised system providing flexibility alongside cost control with regard to remuneration and holiday entitlement. The bandings are reviewed annually by Remuneration Committee to ensure continuation of an even distribution. These bands are utilised by the Committee when awarding annual increments, thus enabling differentiation within the workforce without breaking down decisions to an individual level.

Orchestras Live is an accredited Real Living Wage employer.

The remuneration of the CEO is determined by trustees by giving due consideration to market rates in the sector, performance and affordability.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Governance

Orchestras Live is governed by a skilled, committed and diverse Board, currently made up of 11 trustees. The Board has a strong track record of robust governance and self-assessment, and since 2016 has operated a rolling public trustee recruitment programme.

The Board is committed to recruiting trustees with a broad range of skills, expertise and lived experience. In 2022 we reviewed our processes to establish an inclusive, open recruitment process that would support applications from Black, Asian, and ethnically diverse, D/deaf and disabled candidates as they are currently under-represented on our Board. Two trustees, including the Chair of the Board retired in 2024/25, having served their full term. Two new trustees were appointed during the year, with two further candidates being appointed as trustees-designate, with the expectation that they will be appointed as trustees at the AGM in November 2025. In addition, it is anticipated that a new Chair of the Board will be appointed as a trustee in November 2025, following a rigorous open recruitment process.

A full Trustee Skills Audit is undertaken prior to trustee recruitment to identify gaps, review diversity and inform our recruitment process. We ensure that each potential trustee understands the charity’s expectations of them and a comprehensive schedule outlines the induction process, both leading up to and after the formal appointment. We offer access support for people who face barriers to inclusion, meeting in accessible venues, being flexible in scheduling meetings at different times of day and covering travel expenses.

The Board meets at least four times a year, including an annual strategy discussion and a board development session. Induction is provided for new trustees and training opportunities are offered to those who are new to trusteeship. Additional training is also provided to reinforce understanding and skills relating to topical strategic issues such as the environment and diversity and inclusion. Trustees are actively involved in strategic, financial and business planning with dedicated Finance, Diversity Inclusivity & Relevance and Remuneration Committees. Since 2021 these have been augmented by working groups (trustees and staff) focused on Environmental Responsibility, Ambition & Quality, and Dynamism. In addition to ongoing financial monitoring and regular review of the risk register, trustees monitor performance via a quarterly Dashboard, informed by data captured and managed on a bespoke IT system. Trustees have a dedicated section on OL's intranet; through a secure, bespoke online login, trustees can access all governance, financial and monitoring information at any time, as part of an entirely paper-free governance process.

The Board is committed to driving Orchestras Live’s work to make a more equitable orchestral sector and to ensuring that the organisation’s governance and internal systems cement an inclusive approach across all our processes. The Board is also committed to understanding the organisation’s environmental impact and to ensure that future plans incorporate actions to mitigate that impact.

Within approved policies, business and financial plans, the trustees have agreed to delegate routine items to the staff team, led by the Chief Executive and Company Secretary.

The trustees held an open tender to appoint independent auditors for the 2022/23 audit. Following rigorous scrutiny of the applications received, DJH Mitten Clarke were appointed for an initial three-year period.

Vice-Chair Helen Harrison is Chair of the Finance Committee, which meets quarterly. She was appointed Interim Chair of the Board in March 2025, on the retirement of Dr Tony Stoller. Jo Towler is Chair of the Diversity, Inclusivity and Relevance Committee which meets quarterly. The Remuneration Committee meets as required and is chaired by Michelle Hines.

page 23

ORCHESTRAS LAIVL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees have reviewed their govemance policies and practice against the Charity Governance Code for smaller charities (updated 2020) and are satisfied that they are following its guidance. STATEMENT OF TRUSTEES. RESPONSIBILrriES The trustees are responsible for preparing the financial statements in accordan￿ with applicable law and United Kingdom Generally Accepted Accounts'ng Practi￿. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounb'ng Practice (United Kingdom Accounting Standards and applicable law). 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 state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Chartties SORP" make judgements and estimates that are reasonable and pruden( state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable ￿)MpanY'S transactions and disdose 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 hen￿ for taking reasonable steps for the prevention and detection of fraud and other i￿egUlaritieS. STATEMENT AS TO DJSCLOSURE OF INFORMATION TO AUD￿oRs So far as the trustees are aware. there is no relevant information of which the charitable company's audttors are unaware. Additionally. the trustees have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the charitable company's auditors are aware of that infomiation. This report has been prepared in accordance with the provisions applicable to companies entitled lo the small companies exemption. ON BEHALF OF THE BOARD: N H Buchanan - Company Secretary Date:...

Orchestras Live

Report of the Independent Auditors to the Trustees of Orchestras Live for the year ended 31 March 2025

Opinion

We have audited the financial statements of Orchestras Live (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Orchestras Live

Report of the Independent Auditors to the Trustees of Orchestras Live for the year ended 31 March 2025

Opinion on other matters prescribed by the Companies Act 2006.

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, if our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In preparation for our audit we identified areas of laws and regulations which we considered could have a material effect on the financial statements. This information was obtained via discussions with management and from our general commercial and sector experience. The directors also provide us with written representation of all the key and fundamental industry specific laws and regulations with they are required to adhere to. These were then communicated to the whole of the audit team at our audit planning meeting.

Orchestras Live

Report of the Independent Auditors to the Trustees of Orchestras Live for the year ended 31 March 2025

As a charitable company, non-compliance with the Charities Act 2011, Companies Act 2006 and the conditions of government and non-government grant funding were assessed to be most relevant. Our audit procedures to respond to these risks included:

Despite appropriate planning and performing our work in accordance with International Auditing Standards, there are always inherent limitations that non-compliance is not detected. Non-compliance with laws and regulations is often further removed from the events and transactions reflected in the financial statements and material misstatements due to fraud can be deliberately concealed from auditors, for example through misrepresentation, forgery or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Abbott FCA, Senior Statutory Auditor

For and on behalf of

DJH Audit Limited, Statutory Auditor

St George's House 56 Peter Street Manchester M2 3NQ

26 September 2025

ORCHESTRAS LIVE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Notes
INCOME FROM:
Grants, donations and legacies
2
Charitable activities
3
Investments
4
Total income
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
Total expenditure
NET INCOME BEFORE TAX
8
Corporation tax credit
10
NET INCOME
Transfers between funds
14
Net incoming resources before
other recognised gains and
losses
Other recognised gains and losses
Actuarial (losses) on defined
benefit pension schemes
19
Net movement in funds
Total funds brought forward:
As originally stated
Prior period adjustment
As restated
Total funds carried forward
14		 2025
General
fund
£
120
39,556
28,496
68,172
71,928
603,798
675,726
( 607,554)
5,930
( 601,624)
593,983
( 7,641)
-
( 7,641)
186,379
-
186,379
178,738		 2025
Designated
funds
£
689,314
159,445
41,000
889,759
-
255,402
255,402
634,357
-
634,357
( 593,983)
40,374
( 58,000)
( 17,626)
405,197
-
405,197
387,571		 2025
Restricted
funds
£
184,236
-
-
184,236
-
163,570
163,570
20,666
-
20,666
-
20,666
-
20,666
26,697
-
26,697
47,363		 2025
Total
funds
£
873,670
199,001
69,496
1,142,167
71,928
1,022,770
1,094,698
47,469
5,930
53,399
-
53,399
( 58,000)
( 4,601)
618,273
-
618,273
613,672		 2024
Total
funds
£
868,734
210,136
55,554
1,134,424
70,642
1,043,496
1,114,138
20,286
10,306
30,592
-
30,592
( 48,000)
( 17,408)
1,237,681
( 602,000)
635,681
618,273

page 28

ORCHESTRAS LIVE BALANCE SHEET AS AT 31 MARCH 2025 2025 2025 2024 2024 Notes Fixed assets Tangible assets 11 Current assets Debtors: falling due within one year Debtors= falling due after more than one year Cash on deposit: more Ihan three months Cash on deposit: less than three months Cash at bank and in hand 12 12 69,695 60.000 248,464 353,706 14,033 72,173 60.000 240.003 378,151 23.144 745.898 773.471 Liabilities Creditors: amounts falling due within one year 13 (132,226) (155.198) Net current assets 613.672 618.273 Net assets excluding pension scheme 613,672 618,273 Defined benefit pension scheme liability 19 Total net assets 613.672 618,273 The funds of the charity Unreslricted funds= General fund Designated funds Restricted funds 178,738 387,571 47,363 186.379 405.197 26.697 Total charity funds 14 613.672 618,273 The financial ststements were arvroved ty the Board of Trustees on ... 23 S 202( and were signed on its behalf by. H Harrison - Trustee N Solano Trustee Company number: 5988211 e29

ORCHESTRAS LIVE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

2025
2025
Notes
£
£
Cash flows from operating activities:
Net cash used in operating activities
A
( 89,029)
Cash flows from investing activities:
Interest received
63,934
Cash placed on deposit for more than three months
( 8,461)
Net cash provided by investing activities
55,473
Change in cash and cash equivalents in the year
( 33,556)
Cash and cash equivalents at the beginning of the year
401,295
Cash and cash equivalents at the end of the year
367,739
Represented by:
Cash at bank and in hand
14,033
Cash on deposit: less than three months
353,706
367,739
A. Reconciliation of net expenditure to net cash flow from operating activities
Net (expenditure) / income for the year
53,399
As per the Statement of Financial Activities
Adjustments for:
Interest receivable
( 69,496)
Defined benefit pension scheme - finance cost
( 41,000)
Defined benefit pension scheme - service cost
( 17,000)
Decrease in debtors
8,040
Decrease in creditors
( 22,972)
( 142,428)
Net cash used in operating activities
( 89,029)		 2024
£
48,080
( 240,003)
( 55,554)
( 31,000)
( 17,000)
113,479
( 89,653)		 2024
£
( 49,136)
( 191,923)
( 241,059)
642,354
401,295
23,144
378,151
401,295
30,592
( 79,728)
( 49,136)

page 30

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared 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)" (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Orchestras Live 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 note(s).

There are no material uncertainties about the charity's ability to continue, and so the going concern basis of accounting has been adopted.

The financial statements are presented in pounds sterling and rounded to the nearest pound.

Income

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds. Where grants are received in response to a proposal including a budgeted timescale, such that the timescale for the expenditure is implicit in the grant agreement, the income is recognised in accordance with that timescale.

Income from charitable activities is recognised over the period to which the income relates. Partnership investments are usually invoiced for a period coinciding with the charity's accounting year. Where partnership investments are invoiced in advance, the income is deferred. Promoter and other partner contributions are invoiced for specific events and are recognised when the event takes place.

The Trustees consider that the charity has one charitable activity as described in the Trustees' Report.

Investment income is recognised when receivable. Interest is accounted for as accrued income where is it due but has not yet been credited.

Contributions in kind relate to resources and venue hire donated for specific purposes or projects and are recognised within both incoming resources and resources expended. Contributions in kind are recognised when the charity has control over the items, any conditions associated with them have been met, the receipt of economic benefit is probable and the amount can be measured reliably. The donations are valued on the basis of the market value of the resources and venue hire received.

page 31

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES continued

Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Expenditure has been classified under headings that aggregate all costs related to the category:

(i) Expenditure on raising funds includes an allocation of the staff costs of the charity's funding development staff and the associated travel and subsistence expenses.

(ii) Expenditure on charitable activities includes the cost of projects funded directly and projects funded by way of grants to organisations, the staff costs of the production team and an allocation of the staff costs of the Chief Executive Officer. Support costs related to the charitable activities are included.

Staff costs have been allocated to expenditure headings on the basis of an estimate of the amount of time spent by staff members in each area.

Support costs have been allocated to the single material activity undertaken by the charity.

Support costs are those functions that assist the work of the charity but do not directly relate to the charitable activities, and include governance costs.

Taxation

The charity is exempt from corporation tax on its charitable activities. It is able to claim Orchestra Tax Relief for qualifying projects.

Fund accounting

The General fund can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated funds are unrestricted funds which are set aside by the Trustees for specific purposes.

Restricted funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Office equipment:

Fully depreciated

Assets costing less than £1,000 are not capitalised.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash on instant-access current account and in hand.

page 32

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES continued

Cash on deposit

Cash on deposit includes cash in deposit or savings accounts and on accounts requiring notice before withdrawals can be made.Cash on deposit with an initial term or notice period of greater than three months does not form part of cash and cash equivalents.

Creditors

Creditors are recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. Creditors are recognised at the settlement amount.

Financial instruments

The charity only has financial instruments of a kind that qualify as basic financial instruments. Short term basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Pensions

The charity operates a defined benefit pension scheme for permanent employees administered by Essex County Council which is part of the Local Government Pension Scheme (LGPS).

Contributions payable to employees' pension schemes are recognised in the Statement of Financial Activities in the year they are payable.

The LGPS is a funded scheme and the assets are held separately from those of the charity in separate trusteeadministered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date.

The amounts charged to the Statement of Financial Activities are the current service costs and the costs of scheme introductions, benefit changes, settlements and curtailments. They are included as part of staff costs when they are incurred. Net interest on the net defined benefit liability is also recognised in the Statement of Financial Activities and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses.

Actuarial gains and losses are recognised immediately in other recognised gains and losses.

When the pension scheme is in a surplus position the present value of the economic benefit, commonly referred to as the asset ceiling is reduced to nil on the basis that it is considered to be highly unlikely that the charity will be able to recover the surplus through reduced contribution in the future or through refunds.

page 33

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES continued

Key accounting estimates and assumptions

The Trustees make estimate and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. For the charity, the Trustees believe the only estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are related to the valuation of the defined benefit pension scheme asset or liability. This is based on a third-party actuarial report, and explanation of the key assumptions is set out in Note 19.

Status

Orchestras Live is a charitable company limited by guarantee incorporated in England and Wales. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is 3 Sheaf Street, Leeds LS10 1HD.

page 34

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2 INCOME FROM GRANTS, DONATIONS AND LEGACIES

Arts Council England National Portfolio grant
Charitable foundations and other donations:
The Academy Media Ltd
Age Exchange
Arts Council England - Orchestras in Healthcare
Babergh District Council
The Belstead Gazoni Charitable Trust
The BNA Charitable Incorporated Organisation
Borough Council of King's Lynn and West Norfolk
Brentwood Borough Council - UK Shared Prosperity Fund
Darlington Borough Council
Catherine Cookson Charitable Trust
Chivers Trust
Create Yarmouth
Creative Darlington
Derbyshire County Council
East Coast Community Fund
Esmée Fairbairn Foundation
Essex County Council Arts and Cultural Fund
Garfield Weston Foundation
Gillian Dickinson Trust
Goole Fields Wind Farms Community Fund
The Hadfield Trust
Hays Travel Foundation
Hesslewood Children's Trust
Hull and East Riding Charitable Trust
The Joicey Trust
The Joseph and Annie Cattle Trust
The Joseph Boaz Charitable Trust
Leeds Conservatoire
The Michael Cornish Charitable Trust
Mid Suffolk District Council
Norfolk County Council
North Yorkshire Music Hub (NYMAZ)
Ovingdean Hall Foundation
The Radcliffe Trust
The Samuel Gardner Memorial Trust
The Scops Arts Trust
The Sir James Knott Trust
South Asian Arts-uk
The Three Monkies Trust
Woodsmith Foundation
Individual donations
Project and conference contributions in kind		 2025
£
689,314
-
-
5,000
15,000
-
1,000
4,250
49,286
2,000
-
-
-
-
-
15,000
-
-
-
-
4,999
2,500
5,000
750
2,008
-
-
375
6,400
-
27,156
1,500
-
-
-
1,500
-
-
6,432
-
30,000
120
4,080
873,670		 2024
£
689,314
800
3,575
-
-
1,000
-
4,250
-
-
500
2,000
1,500
2,000
19,166
-
30,000
12,000
30,000
10,000
-
-
3,000
-
2,500
2,000
5,000
-
-
1,000
2,000
-
7,307
2,500
5,000
-
15,000
5,000
-
5,000
-
122
7,200
868,734

The comparative figure includes restricted income of £118,620.

page 35

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3
INCOME FROM CHARITABLE ACTIVITIES
Partnership investments
Consultancy, commission and other income
4
INCOME FROM INVESTMENTS
Essex Pension Fund bond interest
Deposit account interest
CAF Bank and other interest
Defined benefit pension finance income - see Note 19
5
EXPENDITURE ON RAISING FUNDS
Staff costs
Other fundraising costs		 2025
£
181,129
17,872
199,001
2025
£
3,000
22,721
2,775
41,000
69,496
2025
£
71,004
924
71,928		 2024
£
206,986
3,150
210,136
2024
£
3,031
17,893
3,630
31,000
55,554
2024
£
69,578
1,064
70,642

page 36

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6 EXPENDITURE ON CHARITABLE ACTIVITIES

EXPENDITURE ON CHARITABLE ACTIVITIES
Activity costs funded directly
Activity costs funded by grants
Project costs in kind
Other direct costs
Staff costs
Allocation of support costs (note 7)		 2025
£
141,432
260,911
4,080
14,029
294,151
308,167
1,022,770		 2024
£
153,649
323,715
7,200
8,000
243,692
307,240
1,043,496

Activities funded directly relate to those events for which Orchestras Live is the creative producer or coproducer.

Orchestras Live works in partnership with local authorities (7 grantees totalling £128,369 (2024: 9 grantees totalling £162,920)), music education hubs and other not for profit partners (22 grantees totalling £132,542 (2024: 16 grantees totalling £136,325)) to deliver its charitable activities. To enable high quality, live orchestral music to take place in under-served parts of England, Orchestras Live provides grants to these partner organisations to support the costs of delivering activity. Grants are made only to organisations working in partnership with Orchestras Live, collaborating closely to ensure the activity delivers Orchestras Live’s objectives. Individually material grant recipients were East Riding of Yorkshire Council (total £45,129) (2024: East Riding of Yorkshire Council (total £60,294) and Viva Chamber Orchestra (total £37,552)).

The comparative figure includes expenditure from restricted funds of £144,377.

page 37

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7 SUPPORT COSTS

Staff costs
Staff recruitment
Workforce development
Training and conferences
Premises costs
Insurance
PR and communications
IT and computer costs
Printing and stationery
Postage and telecommunications
Travelling and subsistence
Accountancy fees and payroll
Legal and professional fees
Bank charges
Miscellaneous expenses
Governance costs:
Trustees' expenses for attending meetings
Trustee board development and training
Auditors' remuneration for audit services
FRS 102 report and actuarial valuation costs
8
NET INCOME
Net expenditure is stated after charging:
Auditors' remuneration for audit services		 2025
£
211,594
714
-
1,714
15,060
1,250
5,257
5,278
111
693
18,881
31,630
818
5
1,810
1,781
536
8,850
2,185
308,167
2025
£
8,850		 2024
£
199,883
2,657
1,149
2,853
13,623
908
5,670
5,530
5
1,069
24,820
30,430
4,141
60
2,612
2,142
448
7,175
2,065
307,240
2024
£
7,175

page 38

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9
STAFF COSTS
Gross salaries
National Insurance contributions
Pension contributions
Defined benefit pension service cost - see Note 19
Pension scheme administration		 2025
£
457,311
39,763
95,196
( 17,000)
1,479
576,749		 2024
£
404,539
35,102
88,976
( 17,000)
1,536
513,153

Pension contributions relate wholly to defined benefit schemes. At the year end accrued employer contributions were £1,350 (2024: £1,337).

The average number of employees was fifteen (2024: thirteen). One employee received employment benefits (excluding employer pension contributions) in the range £80,001 to £90,000 in the year (2024: one employee). During the year eleven employees accrued benefits under a defined benefit scheme and four accrued benefits under a defined contribution scheme.

10 TAXATION
Orchestra and Film Tax relief - repayable credit
11 TANGIBLE FIXED ASSETS
Cost
Brought forward at 1 April 2024
Carried forward at 31 March 2025
Depreciation
Brought forward at 1 April 2024
Carried forward at 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 2025
£
5,930
Fixtures,
fittings and
equipment
£
2,630
2,630
2,630
2,630
-
-		 2024
£
10,306
Total
£
2,630
2,630
2,630
2,630
-
-

page 39

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12 DEBTORS
Amounts falling due within one year:
Trade debtors
Tax recoverable
Other debtors, prepayments and accrued income
Amounts falling due after more than one year:
Essex Pension Fund bond
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other tax and social security
Accruals
Deferred income
Deferred income comprises:
Income deferred from the previous year
Released to the statement of financial activities
Arising during the current year:
Amounts invoiced in advance
Grants required to be spent in future periods		 2025
£
27,974
5,930
35,791
69,695
60,000
2025
£
11,790
9,869
101,402
9,165
132,226
41,000
( 41,000)
9,165
-
9,165		 2024
£
46,241
10,306
15,626
72,173
60,000
2024
£
4,155
9,708
100,335
41,000
155,198
64,307
( 64,307)
41,000
-
41,000

page 40

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14 MOVEMENT IN FUNDS - CURRENT YEAR
Unrestricted funds
General Fund
Designated Funds:
Community Impact Co-Ordinator Fund
Partnership Fund
Programme Fund
Projects Fund
Partner Services
Direct Activities
Pension reserve
Total designated funds
Total unrestricted funds
Restricted funds
Scops Arts Trust
King's Lynn and West Norfolk BC
ACE - Orchestras in Healthcare
The Radcliffe Trust
The Three Monkies Trust
Projects Fund
Total restricted funds
TOTAL FUNDS		 At 1 April
2024
£
186,379
34,000
311,622
33,500
26,075
-
-
-
405,197
591,576
10,000
8,500
-
4,500
1,197
2,500
26,697
618,273		 Net
movement in
funds
£
( 601,624)
-
150,841
689,314
( 263,627)
5,416
( 5,587)
-
576,357
( 25,267)
( 10,000)
( 2,750)
3,349
( 4,500)
( 1,197)
35,764
20,666
( 4,601)		 Transfers
between
funds
£
593,983
-
( 158,875)
( 695,814)
260,535
( 5,416)
5,587
-
( 593,983)
-
-
-
-
-
-
-
-
-		 At 31
March 2025
£
178,738
34,000
303,588
27,000
22,983
-
-
-
387,571
566,309
-
5,750
3,349
-
-
38,264
47,363
613,672

page 41

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14 MOVEMENT IN FUNDS - CURRENT YEAR continued

Net movement in funds, included in the above, are as follows:

Unrestricted funds
General Fund
Designated Funds:
Partnership Fund
Programme Fund
Projects Fund
Partner Services
Direct Activities
Pension reserve
Total designated funds
Total unrestricted funds
Restricted funds
Scops Arts Trust
King's Lynn and West Norfolk BC
ACE - Orchestras in Healthcare
The Radcliffe Trust
The Three Monkies Trust
Projects Fund
Total restricted funds
TOTAL FUNDS		 Incoming
resources
£
68,172
150,841
689,314
-
5,416
3,188
41,000
889,759
957,931
-
4,250
5,000
-
-
174,986
184,236
1,142,167		 Resources
expended
£
( 675,726)
-
-
( 263,627)
-
( 8,775)
17,000
( 255,402)
( 931,128)
( 10,000)
( 7,000)
( 1,651)
( 4,500)
( 1,197)
( 139,222)
( 163,570)
( 1,094,698)		 Other
recognised
gains /
losses & tax
£
5,930
-
-
-
-
-
( 58,000)
( 58,000)
( 52,070)
-
-
-
-
-
-
-
( 52,070)		 Movement
before
transfers
£
( 601,624)
150,841
689,314
( 263,627)
5,416
( 5,587)
-
576,357
( 25,267)
( 10,000)
( 2,750)
3,349
( 4,500)
( 1,197)
35,764
20,666
( 4,601)

The purpose and planned use of the material designated funds is as follows:

Partnership Fund

The Partnership Fund includes invoiced partnership investments which are set aside by Trustees for activity involving those partners. Allocations from this fund are made to the Projects Fund when events are planned. Balances with partners which have not moved for two years or more are kept under review and may be released if further activity with that partner is unlikely.

Programme Fund

The Programme Fund receives the Arts Council England National Portfolio grant, and transfers are made both to the General Fund to cover staff and overhead costs, and to the Projects Fund to support events.

page 42

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14 MOVEMENT IN FUNDS - CURRENT YEAR continued

Projects Fund

The Projects Fund is used to track income and expenditure for individual events. It includes invoiced promoter and other partner contributions to specific events, as well as allocations from the Partnership Fund and Programme Fund, and event expenditure is paid out. The year end balance comprises funding allocated to events which will take place in the ensuing financial year.

Projects which are funded by restricted grants and donations are dealt with as separate restricted funds.

The restricted funds arise from grants and donations to fund particular projects or items of expenditure, and unused income is carried forward to cover future expenditure on those areas. Details of restricted funds active during the year are as follows:

Scops Arts Trust

This fund contains a two-year grant supporting project development in the Midlands and our Regional Producer – Midlands post.

King's Lynn and West Norfolk BC

This fund is part of a three-year Service Level Agreement between Orchestras Live and the Borough Council which supports our co-production work for the benefit of people in West Norfolk.

Arts Council England - Orchestras in Healthcare

This fund contains a grant to develop the work of the Orchestras in Healthcare consortium, through a series of creative health development activities for orchestral musicians and organisations.

The Radcliffe Trust

This fund contains a grant towards an intergenerational, participatory music making and performance project in Sudbury, Suffolk, engaging adults with additional needs, and older people including those living with dementia.

The Three Monkies Trust

This fund contains a grant towards our programme of activity engaging children and young people in the East Riding of Yorkshire through co-creative and performance opportunities with professional orchestras.

Projects Fund

These funds contain grants and donations contributed towards specific projects.

page 43

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15 MOVEMENT IN FUNDS - PRIOR YEAR

Unrestricted funds
General Fund
Designated Funds:
Community Impact Co-Ordinator Fund
Partnership Fund
Programme Fund
Projects Fund
Consultancy & Commission
Direct Activities
Pension reserve
Total designated funds
Total unrestricted funds
Restricted funds
Scops Arts Trust
Leeds Conservatoire
King's Lynn and West Norfolk BC
Gillian Dickinson Trust
The Radcliffe Trust
The Three Monkies Trust
Projects Fund
Total restricted funds
TOTAL FUNDS
 At 1 April
2022
£
197,274
-
339,419
-
46,534
-
-
-
385,953
583,227
10,000
31,021
4,250
-
-
-
7,183
52,454
635,681		 Net
movement in
funds
£
( 501,153)
-
178,124
688,165
( 350,687)
( 7,885)
1,785
-
509,502
8,349
-
( 31,021)
4,250
-
4,500
1,197
( 4,683)
( 25,757)
( 17,408)		 Transfers
between
funds
£
490,258
34,000
( 205,921)
( 654,665)
330,228
7,885
( 1,785)
-
( 490,258)
-
-
-
-
-
-
-
-
-
-		 At 31
March 2023
£
186,379
34,000
311,622
33,500
26,075
-
-
-
405,197
591,576
10,000
-
8,500
-
4,500
1,197
2,500
26,697
618,273

page 44

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15 MOVEMENT IN FUNDS - PRIOR YEAR continued

Net movement in funds, included in the above, are as follows:

Unrestricted funds
General Fund
Designated Funds:
Partnership Fund
Programme Fund
Projects Fund
Consultancy & Commission
Direct Activities
Pension reserve
Total designated funds
Total unrestricted funds
Restricted funds
Scops Arts Trust
Leeds Conservatoire
King's Lynn and West Norfolk BC
Gillian Dickinson Trust
The Radcliffe Trust
The Three Monkies Trust
Projects Fund
Total restricted funds
TOTAL FUNDS		 Incoming
resources
£
114,216
178,124
689,314
-
115
3,035
31,000
901,588
1,015,804
15,000
7,200
4,250
10,000
5,000
5,000
72,170
118,620
1,134,424		 Resources
expended
£
( 625,675)
-
( 1,149)
( 350,687)
( 8,000)
( 1,250)
17,000
( 344,086)
( 969,761)
( 15,000)
( 38,221)
-
( 10,000)
( 500)
( 3,803)
( 76,853)
( 144,377)
( 1,114,138)		 Other
recognised
gains /
losses & tax
£
10,306
-
-
-
-
-
( 48,000)
( 48,000)
( 37,694)
-
-
-
-
-
-
-
-
( 37,694)		 Movement
before
transfers
£
( 501,153)
178,124
688,165
( 350,687)
( 7,885)
1,785
-
509,502
8,349
-
( 31,021)
4,250
-
4,500
1,197
( 4,683)
( 25,757)
( 17,408)

Details of designated and restricted funds are as shown in Note 14.

page 45

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR
General
fund
Designated
funds
£
£
Fund balances at 31 March 2025 are represented by:
Tangible fixed assets
-
-
Net current assets
178,738
387,571
Defined benefit pension scheme provision
-
-
178,738
387,571
17 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
General
fund
Designated
funds
£
£
Fund balances at 31 March 2024 are represented by:
Tangible fixed assets
-
-
Net current assets
186,379
405,197
Defined benefit pension scheme provision
-
-
186,379
405,197		 Restricted
funds
£
-
47,363
-
47,363
Restricted
funds
£
-
26,697
-
26,697		 Total
funds
£
-
613,672
-
613,672
Total
funds
£
-
618,273
-
618,273

18 RELATED PARTY TRANSACTIONS

The Board of Trustees and the Chief Executive Officer are considered to be the charity's key management personnel.

There were no Trustees' remuneration or other benefits during the current or prior period.

Trustees were reimbursed expenses of £1,497 (2024: £1,906), in respect of nine (2024: thirteen) Trustees for travel and subsistence costs. In addition, conference attendance, training, venue hire and meeting refreshment costs amounting to £284 (2024: £236) were met by the charity on behalf of the Board of Trustees.

The total amount of employee benefits (including employer's pension contributions) received by key management personnel during the year was £100,074 (2024: £101,628).

page 46

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19 PENSION OBLIGATIONS

During the year, all of the charity's permanent employees were members of a defined benefit pension scheme which is part of the Local Government Pension Scheme (LGPS), administered by Essex County Council. The pension costs are assessed in accordance with advice from independent qualified actuaries. The last actuarial valuation of the LGPS was 31 March 2025.

The LGPS is a funded defined benefit scheme, with the assets held in separate trustee-administered funds.

The total contributions paid for the year ended 31 March 2025 were £117,932 (2024: £112,426), of which employer's contributions were £92,244 (2024: £87,722) and employees' contributions were £25,688 (2024: £24,704). The agreed employer contribution rates for future years are 23.2% for 2025/26 plus £6,500.

At 31 March At 31 March
2025 2024
Principal actuarial assumptions:
Salary increases 2.90% 2.95%
Pension increases (CPI) 2.90% 2.95%
Discount rate 5.80% 4.90%

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement at age 65 are:

At 31 March At 31 March
2025 2024
Years Years
Retiring today
Males 20.80 20.80
Females 23.30 23.30
Retiring in 20 years
Males 22.10 22.00
Females 24.80 24.70

page 47

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19 PENSION OBLIGATIONS continued

The charity's share of the assets and liabilities of the scheme, and the expected rates of return, were:

Equities
Gilts
Property
Cash / temporary investments
Alternative assets
Other managed funds
Total market value of assets
Present value of scheme liabilities - funded
Impact of asset ceiling
Net defined benefit asset		 Fair value at
31 March
2025
£
1,303,000
36,000
192,000
46,000
358,000
439,000
2,374,000
-
( 1,303,000)
( 1,071,000)		 Fair value at
31 March
2024
£
1,200,000
39,000
149,000
53,000
329,000
395,000
2,165,000
( 794,000)
( 1,371,000)
-

The expected return on plan's assets is based on the long-term future expected investment return for each asset class as at the beginning of the period. The returns on gilts and other bonds are assumed to be the gilt yield and corporate bond yield (with an adjustment to reflect default risk) respectively at the relevant date. The returns on equities and property are then assumed to be a margin above gilt yields.

Amounts recognised in the Statement of Financial Activities:

Amounts recognised in the Statement of Financial Activities:
Current service cost (net of employee contributions)
Net interest (credit) / cost
Administration expenses
Total operating charge		 2025
£
74,000
( 41,000)
1,000
34,000		 2024
£
70,000
( 31,000)
1,000
40,000

page 48

ORCHESTRAS LIVE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19 PENSION OBLIGATIONS continued

Movements in the present value of defined benefit obligations were as follows:

2025
£
At 1 April 2024
1,371,000
Current service cost
74,000
Interest cost
67,000
Change in financial assumptions
( 215,000)
Change in demographic assumptions
-
Experience gain on defined benefit obligation
-
Benefits paid net of transfers in
( 20,000)
Past service costs, including curtailments
-
Employee contributions
26,000
At 31 March 2025
1,303,000
Movements in the fair value of the charity's share of the scheme assets were:
2025
£
At 1 April 2024
2,165,000
Interest income
108,000
Return on assets less interest
4,000
Other actuarial gains / (losses)
-
Administration expenses
( 1,000)
Employer contributions
92,000
Employee contributions
26,000
Benefits paid net of transfers in
( 20,000)
At 31 March 2025
2,374,000
Actual return on scheme assets
112,000		 2024
£
1,239,000
70,000
60,000
8,000
( 17,000)
5,000
( 19,000)
-
25,000
1,371,000
2024
£
1,841,000
91,000
140,000
-
( 1,000)
88,000
25,000
( 19,000)
2,165,000
231,000

page 49