REGISTERED COMPANY NUMBER: 05908862 (England and Wales) REGISTERED CHARITY NUMBER: 1119621
Report of the Trustees and
Financial Statements for the Year Ended 31st August 2025 for
ESO (2006) Limited
Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU
ESO (2006) Limited
Contents of the Financial Statements for the Year Ended 31st August 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financia! Activities | § | ||
| Balance Sheet | 6 | ||
| Cash Flow Statement | 7 | ||
| Notes to the Cash Flow Statement | 8 | ||
| Notes to the Financial Statements | 9 | to | 17 |
| DetailedStatementofFinancialActivities | 18 | to | 19 |
ESO (2006) Limited
Report of the Trustees for the Year Ended 31st August 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 31st August 2025. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims The principle aim of the company is to advance, improve, develop and maintain public education in and appreciation of, the arts and science of music, in particular the art of classical music by any means as the directors see fit. The tagline of the company has recently changed to "The International Orchestra of Elgar Country". This line embodies the orchestra's current trajectory - enjoying international renown for its highly acclaimed recordings and world-wide reputation while staying true to its West Midlands/Share roots. The company engages musicians and hires venues in order to promote concerts at its own risk, It also seeks funding from a variety of sources ranging from Trusts and Foundations to individual donations in order to provide a secure funding base for its concert and recording activities and to fund the administration of the orchestra.
The orchestra is also engaged to perform at concerts promoted by other organisations and to record classical repertoire. The company has an active education programme. Examples of these activities include the development of a beginners’ orchestra (for music students studying grades 1 - 3) and an intermediate orchestra (for students studying grades 4 - 7). The company also takes music into the community through its Homes and Hospices programme whereby musicians perform for the elderly and infirm who find it difficult to leave the home to attend concerts. Public benefit The trustees have complied with their duty to have a regard to public benefit guidance published by the Charities Commission, the trustees consider that the charity meets the public benefit requirements of the Charities Act 2011 by carrying out its normal activities.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities During the year the charity participated in the Elgar Festival 2025, with the Elgar Gala Concert organised by the charity being considered the heart of the Elgar Festival.
Other performances undertaken by the charity in the year include Jupiter's Fairground; Vienesse Magic; Enchanting Enigma; Hero Worship; Kings Place; Musical Metamorphosis; and Wizards, Witches & Warriors, The charity continued to arrange for Corinne Frost and Stephen Warner (aka "DownsideUp") and the ESO Wind Ensemble to perform a selection of music for various Dementia Meeting Centres. The charity also continued to organise ESO Youth autumn, spring and summer orchestra courses for beginner, intermediate and advanced levels. Orchestral discipline is matched by improvisation and sheer fun with the primary aim of helping children develop musicianship, confidence and sociability. The varied activities on each course include full and sectional orchestral rehearsals as well as singing, group improvisation, solo masterclasses and games and every course concludes with an informal concert. This year year the charity also organised for the orchestra to record Oxford Music Online Online for Florida State University. The charity also runs a digital library of past concerts that members have access to in exchange for a monthly donation to the charity. Membership includes other benefits, including exclusive content, discounted tickets and regular newsletters. The charity also sells CDs of its productions, available on its online store.
This year year the charity also organised for the orchestra to record Oxford Music Online Online for Florida State University.
FINANCIAL REVIEW
Financial position Total income from the year was £378,837 (2024 - £467,899). The current year’s level of income is comparable to pre-pandemic levels.
Total expenditure for the year was £419,868 (2024 - £501,895). The level in expenditure has decreased at a lower rate than income.
Principal funding sources The charity is funded by a mixture of income generated from concerts, ESO Youth, sale of CDs and other charitable activities undertaken and grants and donations received from Arts Council England, various charitable trusts and members of the public.
Page 1
ESO (2006) Limited
Report of the Trustees for the Year Ended 31st August 2025
FINANCIAL REVIEW
Reserves policy
Unrestricted reserves at the year end were £50,132 (2024 - £134,232). Excluding funds held as tangible fixed assets of £2,679 (2024 - £2,820), free reserves were in a surplus position of £47,453 (2024 - surplus position of £131,412).
Restricted reserves at the year end were £65,280 (2024 - £22,211).
The trustees have reviewed the charity's needs for reserves in accordance with the guidance issued by the Charity Commission and have taken into account the desirability of holding sufficient funds to meet unexpected disruption of the income flow.
The trustees aim to hold unrestricted reserves to approximately three month’s expenditure, with the level of unrestricted funds held at the year end being approximately 1.5 months of expenditure (2024 - approximately 3 months of expenditure).
The trustees are aware that the level of the charity's reserves have fallen below the required level and are monitoring the situation. The trustees are planning to reduce the number of unfunded performances undertaken and are planning to concentrate only on those performances funded either by tickets sales and / or by grant funding. The trustees are also looking for ways to reduce management support costs.
FUTURE PLANS
The charity plans to participate in the 2026 Elgar Festival and continue putting on concerts.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charitable company is controlled by its governing document, its Memorandum and Articles of Association, and constitutes a limited company registered in England and Wates, limited by guarantee, as defined by Companies Act 2006.
Recruitment and appointment of new trustees
Appointments are made by election as the Annual General Meeting following requests from members.
Organisational structure
The charity is run by its board of trustees, who delegate the day-today running of the charity fo it's chief executive officer Susan Voysey who replaced Seb Lovell-Huckle in July 2025,
The charity engages The Music Agency to assist with the booking of musicians who perform at the charity's concerts.
Induction and training of new trustees
New trustees receive an induction from the chair of trustees.
Key management remuneration
Key management remuneration is determined by the board of trustees.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Trustee indemnity provisions
The Articles of Association state that the charity shall indemnify the trustees against any liability incurred by them in their capacity as trustees, to the extent permitted by Companies Act 2008.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05908862 (England and Wales)
Registered Charity number 1119621
Registered office 16-20 Deansway Worcester Worcestershire WR1 2ES
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ESO (2006) Limited
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Report of the Trustees
for the Year Ended 31st August 2025
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Trustees Mr R J Adey Dr C A Barnett (resigned 3.12.25) Mr D Blake Mr N Capaldi OBE (appointed 26.9.24) Dr J T Godfrey OBE Mr F A J Heathfield (appointed 26.9.24) Ms M G Mueller Dr G Sheffield (resigned 28.11.24) Mr J Summers (resigned 6.3.25) Ms M D Bisset (appointed 1.9.25) Ms J Koos (appointed 30.10.25) Ms J A Britton (appointed 1.9.25)
Independent Examiner Melissa Jean Godwin ACA ACCA Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 1RU Chief Executive Officer Mrs S M Voysey Appointed 21 July 2025 Mr S W Lovell-Huckle Resigned 20 June 2025
Musician booking agent The Music Agency Crynallt Liancarfan Vale of Glamorgan CF62 3AD This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on sli fe PMs and signed on its behalf by: ZOELG ffFor———= Dr JT Godfrey -rdstee
Page 3
Independent Examiner's Report to the Trustees of ESO (2006) Limited
Independent examiner's report to the trustees of ESO (2006) Limited (‘the Company’) | report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2025.
Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2017 Act.
Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
| have completed my examination.
| draw your attention to the going concern note included within the account policies on page 9 of the financial statements.
| confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
- accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and
4, the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Melissa Jean Godwin ACA ACCA
Richards Sandy Partnership Ltd Chartered Certified Accountants Thorneloe House 25 Barbourne Road Worcester Worcestershire WR1 iRU
Date: .... OX Os 2Geee
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ESO (2006) Limited
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31st August 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|Unrestricted|Restricted|Total|Total|
|funds|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|3|93,780|68,206|161,986|214,526|
|Charitable|activities|6|
|Concerts|103,347|-|103,347|78,091|
|Education|50,243|-|50,243|89,591|
|Other trading|activities|4|.|-|-|288|
|Investment|income|5|498|-|498|120|
|Tax|credits|62,763|-|62,763|85,283|
|Total|310,631|68,206|378,837|467,899|
|EXPENDITURE|ON|
|Charitable|activities|7|
|Concerts|271,723|22,518|294,241|359,039|
|Education|47,214|-|47,214|64,835|
|Support Costs|75,794|2,619|78,413|78,021|
|Total|394,731|25,137|419,868|501,895|
|NET INCOME/(EXPENDITURE)|(84,100)|43,069|(41,031)|(33,996)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|134,232|22,211|156,443|190,439|
|TOTAL|FUNDS|CARRIED FORWARD|50,132|65,280|115,412|156,443|
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The notes form part of these financial statements
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ESO (2006) Limited
| Balance Sheet | Balance Sheet | ||||
|---|---|---|---|---|---|
| 31st | August2025 | ||||
| 2025 | 2024 | ||||
| Unrestricted funds |
Restricted funds |
Total funds |
Total funds |
||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 15 | 2,679 | - | 2,679 | 2,820 |
| CURRENTASSETS | |||||
| Debtors Cash at bank |
16 | 78,990 38 |
29,849 35,431 |
108,839 35,469 |
125,091 51,759 |
| 79,028 | 65,280 | 144,308 | 176,850 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 17 | (31,575) | . | (31,575) | (23,227) |
| NETCURRENTASSETS | 47,453 | 65,280 | 112,733 | 153,623 | |
| TOTALASSETS LESSCURRENT | LIABILITIES | 50,132 | 65,280 | 115,412 | 156,443 |
| NETASSETS | 50,132 | 65,280 | 115,412 | 156,443 | |
| FUNDS | 18 | ||||
| Unrestricted funds | 50,132 | 134,232 | |||
| Restricted funds | 65,280 | 22,211 | |||
| TOTALFUNDS | 115,412 | 156,443 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the smail companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on vecsreeShthee Oi: QoS... and were signed on its behalf by:
The notes form part of these financial statements
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ESO (2006) Limited
| Cash Flow Statement | ||||
|---|---|---|---|---|
| forthe | Year Ended 31stAugust | 2025 | ||
| 2025 | 2024 | |||
| Notes | £ | £ | ||
| Cash flows from operating activities Cash generatedfrom operations |
1 | (16,788) | 20,574 | |
| Netcash (used in)/provided byoperating activities | (16,788) | 20,574 | ||
| Cash flows from investing activities Interest received |
498 | 120 | ||
| Netcash provided by investing activities | 498 | 120 | ||
| Cash flows from financing activities Concessionary loans received Concessionary loans repaid |
15,000 (15,000) |
20,000 (33,000) |
||
| Netcash provided by/(used in)financing | activities | - | (13,000) | |
| Change in cash and cash equivalents the reporting period |
in | (16,290) | 7,694 | |
| Cash and cash equivalents at the beginning ofthereporting period |
51,759 | 44,065 | ||
| Cash and cash equivalents at the end thereportingperiod |
of | 35,469 | 51,759 |
The notes form part of these financial statements
Page 7
ESO (2006) Limited
Notes to the Cash Flow Statement for the Year Ended 31st August 2025
| 1. | RECONCILIATION OF NET EXPENDITURETO NET CASH FLOW FROM OPERATING ACTIVITIES | RECONCILIATION OF NET EXPENDITURETO NET CASH FLOW FROM OPERATING ACTIVITIES | RECONCILIATION OF NET EXPENDITURETO NET CASH FLOW FROM OPERATING ACTIVITIES | RECONCILIATION OF NET EXPENDITURETO NET CASH FLOW FROM OPERATING ACTIVITIES | |
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| £ | £ | ||||
| Net expenditure forthe reporting period (as perthe Statement of | |||||
| Financial Activities) | (41,031) | (33,996) | |||
| Adjustments for: Depreciation charges Interest received |
141 (498) |
149 (120) |
|||
| Decrease in debtors | 16,252 | 37,584 | |||
| Increase in creditors | 8,348 | 16,957 | |||
| Netcash (used in)/provided byoperations | (16,788) | 20,574 | |||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | ||||
| At | 1.9.24 | Cash flow | At | 31.8.25 | |
| £ | £ | £ | |||
| Net cash | |||||
| Cash atbank | 51,759 | (16,290) | 35,469 | ||
| 51,759 | (16,290) | 35,469 | |||
| Total | 51,759 | (16,290) | 35,469 |
The notes form part of these financial statements
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ESO (2006) Limited
- ACCOUNTING POLICIES
Notes to the Financial Statements for the Year Ended 31st August 2025
BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial . Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in sterling, which is the Charity's functional currency. All financial information presented in sterling has been rounded to the nearest pound, except when otherwise indicated.
GOING CONCERN
During the year the charity made a significant unrestricted fund deficit, which significantly reduced the level of unrestricted funds held. At the year end the level of unrestricted reserves held by the charity was significantly less than the current year's unrestricted fund deficit.
If the charity incurs another significant deficit in the next financial year, then there is a risk that the charity will then no longer have sufficient unrestricted fund reserves to be able to continue operating.
Because of this, whilst these financial statements have been prepared on a going concern basis, there exists a material uncertainty as to the charity's ability to continue operating as a going concern.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from grants and donations is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income from grants is only deferred when the charity has to fulfil conditions not yet met before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Legacy income is recognised when the Charity has confirmed entitlement of the legacy, when the amount can be accurately measured and when it is probable that they will receive the income, Where the charity's residual share in a legacy cannot be reliably measured, no amounts are accrued for until such time that it can be reliably measured.
Income from the provision of sponsorship, courses, performances and other services are recognised on delivery of those services.
income from the sale of CDs is recognised when the customer takes ownership of the CD.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Music library - 5% on reducing balance Computer equipment - 20% oncost
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for 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.
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ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
- ACCOUNTING POLICIES - continued
FUND ACCOUNTING
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Staternent of Financial Activities in the period to which they relate.
DONATED SERVICES
Donated facilities and services when received, provided the value of the gift can be measured reliably, on the basis of the value that the charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated service. Where the value of the gift cannot be measured reliably, no provision is included within the accounts.
FINANCIAL INSTRUMENTS
The charity has elected to apply the provisions of Section 11' Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.
Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial Assets Basic financial assets, which include trade and other receivables and cash and bank balances, are_ initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic Financial Liabilities Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.
CONCESSIONARY LOANS
Concessionary loans received from third parties on which no interest is to be charged are measured at historical cost.
- CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Key sources of estimation uncertainty
The valuation of donated services (both within income and expenditure) is based on estimations of what the charity would pay in the open market for an alternative item that would provide a benefit to the charity equivalent to the donated service. Donations were in the form of room hire, marketing and other concert costs and were provided by various donors.However, these valuations are subject to a number of assumptions that cannot be directly verified and may vary to the actual prices that the charity would pay for acquiring equivalent services on the open market.
During the year ESO (2006) Limited received donated services & facilities valued at £4,000 (2024 - £59,306).
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- DONATIONS AND LEGACIES
ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
| 3. | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Donations Legacies Grants Donated services& facilities |
56,111 5,000 96,875 4,000 |
18,343 - 136,877 59,306 |
||
| 161,986 | 214,526 | |||
| Grants received, included in the above, are as follows: | ||||
| 2025 | 2024 | |||
| £ | £ | |||
| Arts Council England Eveson Trust |
29,350 20,000 |
69,750 15,000 |
||
| Stephen GeberTrust Grants from charitable trusts less than £10,000 each |
- 47,525 |
11,020 41,107 |
||
| 96,875 | 136,877 | |||
| 4, | OTHER TRADING ACTIVITIES | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Sponsorship income | - | 288 | ||
| 5. | INVESTMENT INCOME | 2025 | 2024 | |
| £ | £ | |||
| Bank interest | 91 | 120 | ||
| HMRC interest | 407 | - | ||
| 498 | 120 | |||
| 6. | INCOME FROM CHARITABLE | ACTIVITIES | ||
| 2025 | 2024 | |||
| Performance income Course fees Shop sales |
Activity Concerts Education Education |
£ 103,347 41,420 8,823 |
£ 78,091 86,865 2,726 |
|
| 153,590 | 167682 |
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ESO (2006) Limited
| Notes to the Financial Statements - continued | ||||
|---|---|---|---|---|
| for the Year Ended 31stAugust 2025 | ||||
| 7, | CHARITABLE ACTIVITIES | COSTS | ||
| Direct Costs (see |
Support costs (see |
|||
| note 8) | note 9) | Totals | ||
| £ | £ | £ | ||
| Concerts | 294,241 | . | 294,241 | |
| Education Support Costs |
47,214 - |
- 78,413 |
47,214 78,413 |
|
| 341,455 | 78,413 | 419,868 | ||
| 8. | DIRECT COSTS OF CHARITABLE ACTIVITIES | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Musician's & courses fees | 224,541 | 219,147 | ||
| Soloists & canductor's fees | 72,015 | 68,420 | ||
| Hire of halls, music and instruments | 13,937 | 53,173 | ||
| Marketing & publicity | 9,286 | 57,957 | ||
| Other production costs | 4,947 | 8,021 | ||
| Event management fees | 16,729 | 17,156 | ||
| 341,455 | 423,874 | |||
| 9, | SUPPORT COSTS | |||
| Governance | ||||
| Management £ |
costs £ |
Totals £ |
||
| Support Costs | 73,673 | 4,740 | 78,413 | |
| Support costs, included in the above, areasfollows: | ||||
| 2025 | 2024 | |||
| Support Costs |
Total activities |
|||
| £ | gE | |||
| Wages | 43,872 | 49,080 | ||
| Pensions Subcontractors - general administration |
909 4,500 |
1,004 - |
||
| Subcontractors - grant manager | 12,428 | 13,287 | ||
| Bookkeeper | 5,200 | 4,211 | ||
| Insurance | 1,088 | 1,614 | ||
| Subscriptions and licences | 2,506 | 2,393 | ||
| Othersupport costs | 2,156 | 1,391 | ||
| Bank charges | 873 | 452 | ||
| Depreciation on tangible fixed assets | 141 | 149 | ||
| Independent examiner's fees | 4,740 | 4,440 | ||
| 78,413 | 78,021 |
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ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Depreciation -owned assets Donatedservices |
141 (4,000) |
149 (59,306) |
- INDEPENDENT EXAMINER'S FEES
Fees payable to the charity's independent examiner is as follows:
| Fees payable to the charity's independent examiner is as follows: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Independent examination Assurancework regarding grantfunding returns Theatre tax creditand gift aid claim submissions Bookkeeping and payroll services Companies House filings |
2,520 2,220 2,385 2,733 82 |
2,220 2,220 990 3,139 82 |
| 9,940 | 8,651 |
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31st August 2025 nor for the year ended 31st August 2024.
TRUSTEES’ EXPENSES
There were no. trustees’ expenses paid for the year ended 31st August 2025 nor for the year ended 31st August 2024.
- STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries Other pension costs |
43,872 909 |
49,080 1,004 |
| 44,781 | 50,084 | |
| The average monthlynumberofemployees during the yearwas as follows: | ||
| 2025 | 2024 | |
| Chief Executive Officer | 1 | 4 |
| Administrator | 1 | 1 |
| 2 | 2 |
No employees received emoluments (excluding pension costs) in excess of £60,000.
Total remuneration (including pension costs) paid to key management for the year was £37,668 (2024 - £43,004).
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ESO (2006) Limited
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|---|---|---|---|---|---|---|---|
|Notes|to|the|Financial|Statements|-|continued|
|for the|Year Ended|31st|August|2025|
|14,|COMPARATIVES|FOR|THE|STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations|and|legacies|97,968|116,558|214,526|
|Charitable|activities|
|Concerts|78,091|-|78,091|
|Education|89,591|-|89,591|
|Other|trading|activities|288|-|288|
|Investment|income|120|-|120|
|Tax|credits|85,283|-|85,283|
|Total|351,341|116,558|467,899|
|EXPENDITURE|ON|
|Charitable|activities|
|Concerts|261,663|97,376|359,039|
|Education|64,335|500|64,835|
|Support|Costs|78,021|-|78,021|
|Total|404,019|97,876|501,895|
|NET|INCOME/(EXPENDITURE)|(52,678)|18,682|(33,996)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|186,910|3,529|190,439|
|TOTAL|FUNDS|CARRIED FORWARD|134,232|22,211|156,443|
|45.|TANGIBLE|FIXED|ASSETS|
|Music|Computer|
|library|equipment|Totals|
|£|£|£|
|COST|
|At|ist|September 2024|and|
|31st August 2025|6,711|3,638|10,349|
|DEPRECIATION|
|At|1st|September|2024|3,891|3,638|7,529|
|Charge|for|year|141|-|141|
|At|31st August 2025|4,032|3,638|7,670|
|NET|BOOK VALUE|
|At|31st August 2025|2,679|-|2,679|
|At|31st August 2024|2,820|-|2,820|
----- End of picture text -----
Page 14
continued...
ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
| 16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| £ | £ | ||||
| Theatre tax credits | 44,995 | 93,774 | |||
| Accrued income | 62,383 | 29,144 | |||
| Prepayments | 1,461 | 2,173 | |||
| 108,839 | 125,091 | ||||
| 17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR | ||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Trade creditors | 25,766 | 18,298 | |||
| Social securityand other taxes | 137 | 1,627 | |||
| Wages control Other creditors |
988 110 |
- 209 |
|||
| Accrued expenses | 4,574 | 3,093 | |||
| 31,575 | 23,227 | ||||
| 18. | MOVEMENT INFUNDS | Net | |||
| movement | At | ||||
| At 1.9.24 | in funds | 31.8.25 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 134,232 | (84,100) | 50,132 | ||
| Restricted funds | |||||
| The Bransford Trust | 534 | (534) | - | ||
| Care Home Fund | 7,128 | 14,872 | 22,000 | ||
| Recording Project Fund | 14,549 | - | 14,549 | ||
| Messiah Concert | . | 2,000 | 2,000 | ||
| Arts Council England - Creating | a New | ||||
| Future: Eternal Echoes | . | 26,731 | 26,731 | ||
| 22,211 | 43,069 | 65,280 | |||
| TOTAL FUNDS | 156,443 | (41,031) | 115,412 | ||
| Net movement in funds, included | in the above are as follows: | ||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 310,631 | (394,731) | (84,100) | ||
| Restricted funds | |||||
| The Bransford Trust | - | (534) | (534) | ||
| Care Home Fund | 34,256 | (19,384) | 14,872 | ||
| ESO Youth | 2,600 | (2,600) | - | ||
| Messiah Concert | 2,000 | - | 2,000 | ||
| Arts Council England - Creating Future: Eternal Echoes |
a New | 29,350 | (2,619) | 26,731 | |
| 68,206 | (25,137) | 43,069 | |||
| TOTALFUNDS | 378,837 | (419,868) | (41,031) |
Page 15
continued...
ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
18. MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.23 | in funds | 31.8.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 186,910 | (52,678) | 134,232 |
| Restricted funds | |||
| The Bransford Trust | - | 534 | 534 |
| Care Home Fund | - | 7,128 | 7,128 |
| Recording Project Fund | 3,629 | 11,020 | 14,549 |
| 3,529 | 18,682 | 22,211 | |
| TOTAL FUNDS | 190,439 | (33,996) | 156,443 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 351,341 | (404,019) | (52,678) |
| Restricted funds | |||
| Arts Council England - Music For Humans | 68,500 | (68,500) | - |
| The Bransford Trust | 3,500 | (2,966) | 534 |
| Care Home Fund | 33,038 | (25,910) | 7,128 |
| ESO Youth | 500 | (500) | - |
| Recarding Project Fund | 11,020 | - | 11,020 |
| 116,558 | (97,876) | 18,682 | |
| TOTALFUNDS | 467,899 | (501,895) | (33,996) |
Arts Council England - Music For Humans Relates to funding received from Arts Council England to fund performances undertaken by the English Symphony Orchestra.
Bransford Trust Fund
Relates to funding received from the Bransford Trust to assist with running ESO Youth harp days and relaxed performances.
Care Home Fund
Relates to funding received from The Eveson Charitable Trust, Rathbone and various individual donors and other charitable trusts to organise a series of concerts performed at residential care homes.
ESO Youth Fund
Relates to funding received from various individual donors and charitable trusts to provide an education in orchestral music for young individuals,
Recording Project Fund
Relates to funding received from The Stephen R Gerber Trust to fund a recording project.
Messiah Concert Fund
Relates to funding received from The Mumford Memorial Trust to fund a concert of Handel's Messiah.
Arts Council England - Creating a New Future: Eternal Echoes Relates to funding received from Arts Council England that enables English Symphony Orchestra to build artistic and financial stability, exploring the universal power of of storytelling through myth and legend and celebrate music from female composers, composers of colour, and voices historically silenced.
continued...
Page 16
ESO (2006) Limited
Notes to the Financial Statements - continued for the Year Ended 31st August 2025
19, RELATED PARTY DISCLOSURES
J T Godfrey, a trustee of the charity, gave the charity donations totalling £90 (2024 - £90).
On 26 September 2024, F Heathfield becamea trustee of the charity and thereby a related party. During the period from 26 September 2024 to 31 August 2025, the charity paid F Heathfield £3,327 in respect of their role as a lead supervisor for the orchestra. The transactions were conducted at arm's length.
Music Company International Limited, a company controlled by M G Mueller who is a trustee of the charity, provided support in kind totalling £nil (2024 - £2,000).
Page 17
ESO (2006) Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| forthe Year Ended 31stAugust2025 | ||
| 2025 | 2024 | |
| £ | £ | |
| INCOMEAND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations Legacies Grants Donated services & facilities |
56,111 5,000 96,875 4,000 |
18,343 . 136,877 59,306 |
| 161,986 | 214,526 | |
| Other trading activities | ||
| Sponsorship income | - | 288 |
| Investment income | ||
| Bank interest | 91 | 120 |
| HMRC interest | 407 | - |
| 498 | 120 | |
| Charitable activities | ||
| Course fees | 41,420 | 86,865 |
| Performance income | 103,347 | 78,091 |
| Shop sales | 8,823 | 2,726 |
| 153,590 | 167,682 | |
| Tax credits | ||
| Tax credits current year | 44,995 | 85,283 |
| Tax credits previous year | 17,768 | - |
| 62,763 | 85,283 | |
| Total incoming resources | 378,837 | 467,899 |
| EXPENDITURE | ||
| Charitable activities | ||
| Musician's & courses fees | 224,541 | 219,147 |
| Soloists & conductor's fees | 72,015 | 68,420 |
| Hire of halls, music and instruments | 13,937 | 53,173 |
| Marketing & publicity | 9,286 | 57,957 |
| Other production costs | 4,947 | 8,021 |
| Eventmanagement fees | 16,729 | 17,156 |
| 341,455 | 423,874 | |
| Support costs | ||
| Management | ||
| Wages | 43,872 | 49,080 |
| Pensions | 909 | 1,004 |
| Subcontractors - general administration | 4,500 | - |
| Subcontractors - grant manager | 12,428 | 13,287 |
| Bookkeeper | 5,200 | 4,211 |
| Insurance | 1,088 | 1,614 |
| Subscriptions and licences | 2,506 | 2,393 |
| Carriedforward | 70,503 | 71,589 |
This page does not form part of the statutory financial statements
Page 18
ESO (2006) Limited
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for theYear Ended 31stAugust2025 | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Management | |||
| Brought forward | 70,503 | 71,589 | |
| Other support costs | 2,156 | 1,391 | |
| Bank charges | 873 | 452 | |
| Depreciation | 141 | 149 | |
| 73,673 | 73,581 | ||
| Governance costs | |||
| independent examiner's fees | 4,740 | 4,440 | |
| Total resources expended | 419,868 | 501,895 | |
| Netexpenditure | (41,031) | (33,996) |
This page does not form part of the statutory financial statements
Page 19