Charity registratron numb8r 1139138 (England and Wales)
Company reglstratloFb number 07280079
THE NOVA MUSIC TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE NOVA MUSIC TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr S LesteT
Mr S M R¢xefield
Mr J S l Rosef*hJ
Mr G Vass
Charity number
1139138
Company number
07280079
Registered offlce
33 Ely Place
London
Unrted lQngdom
EC1N 6TD
Independent exarniner
Thorne & Co
I Sl Marls Street
Ross-on-wye
Herefordshire
England
HR9 5HT

THE NOVA MUSIC TRUST LIMITED
CONTENTS
Page
Report on artistic acts
Trustees. rewt
Independent examinerfs report
Statement of finanaal activitses
Balance sheet
Notes to the fin8ncxal ststements
6-11

THE NOVA MUSIC TRUST LIMITED
REPORT ON ARTISTIC ACTIVITY
FOR THE YEAR ENDED 31 DECEMBER 2024
Orchestra Nova's lo￿￿tanding parb)ership ￿ St Albans Chryal Soaety came to an end in 2024 wkh a
perfomiance in Harpenden in April and a further concÉrt at St Ajbans Cathedral in No'iember. The tnjst r8t8in8d its
long partnership with the Presteigne F8stN81. engaging muscians for the Festival Old￿tra.
2024 wa5 a busy year for recording wilh tsvo BBC cwr(Kludions- a CD of British Piano Cc*)certos wth soloist
Clare Hammond and the 8BC sYmph￿Y Orchestra for the Swedish laiEI BIS. and a disc of COn￿rt0$ by the Dutch
composer Henriette Bosmans soloisls Gemma Rosefield, 8enjarnin N8barro and the BBC Philharrnonic for
Resonus Cl8ssiG8. Orchestra Nova also joined lorces wth soprano Rowan pier￿ and the Choir of Royal Holloway
for a further Resonus Classics CD of music by contemporary Englssh ¢>ynposer, Cecilia McDowall.
George Vass
Artistic Director
ia Iqlis

THE NOVA MUSIC TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their amual reFth and finan￿al ststements for the year 9nded 31 De(%mbEr 2024.
The financial statements have been prepared in ￿¢C￿danCE V￿th the aoxjunting policies set out in not8 1 to the
rinanual Statements and comply wtth the charivs deed of trust, Ihe Companies Act 2006 and 'Acctsurrting and
Reporting by Charities.. Statement of Recommended Practice applicatle to tharib8s preparing their accounts in
accordance with the Financial ReFwbng Standard applicable in Ihe UK and Republic of Ireland IFRS
1021" leffective 1 January 20191.
Objectives and activities
The principal activlty is the Ferfornance. promtion aThJ record￿9 of ttjntemporary and twentieth cenlury music.
with a SP8ci81ism in the fidd of chamber opera.
Public benefit
Th8 trustees have pamd due Tegard to guNlance issued by th8 Charity Cornrnission it) deciding what activities the
charity should undert8ke.
Achievements and perfomiance
Slgnifjcant actwifyes and 8chffevements againstobiectswes
FÈnan¢ial review
Structure, governance and management
The charity 15 o)ntrolled by its goveming documenL a dwl of Iru5L and constitutes a limited company. limited by
guarantee. as defined by the Companies Acl 2006.
The trustees, who are also the direct￿ tr the wrpose of ccThpany law. and %tho seNed during the year and up to
the date of Signatu￿ of the financaal stst8menls we￿.
Mr S Lester
Mr S M Rosefiekl
Mr J S l Rosefidd
MT G Vass
R&cNitment and app￿￿t￿SlIt of trustees
The trustees. report was approwj by Ihe Board of Trustees.
Mr J S l Rosefield
Trustee
25 Septernber 2U25

THE NOVA MUSIC TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE NOVA MUSIC TRUST LIMITED
I report to the tnjstees on my examination of lh8 statemenls of The Nova Music Trust Limited (the tharityl
forth8 y8ar 8nded 31 December 2024.
Responslbllltles and basis of rèport
As the trustee5 of the c*arity land 8150 its directors lor the purposes of COTnpany lawl. you are responsible for the
preparation ofthe finaaoal stttt￿ents in a(u%dance wrth the reqU1￿ments ofthe Cornpanies Act 2006.
Having satisfied myseff that the financial statements of the charity are not required to be auditej under Part 16 01
the Companies Act 2006 and are eligible for independent exarninab"on. I report in respect of my examination of the
charity's financicil statement5 camed out under sectyon 145 of the Charities Act 2011. In carying out my examinats.on
I have followed the DiT8ctions given by the Charity Commission under section 14515llbl of the CharitiesAct 2011.
Independent examlnèvs statement
I have completed rny ex3minab"on. I confim) that no matt8rs have come to my attention in conn8thon with the
ex8rnination giving me cause to believe that in any material respect..
accounting record5 were not kept in respect of the thanty as requirgj by section 386 of the Compani8s Act
2006.
the ffinancial statements do not acrxjrd wilh ih)se records.. or
the financial ststernents do not comply vAth the a￿￿OU￿b.￿g requirements of section 396 of Ihe Companies Act
2006 other than any reQUi￿rnent that th8 ffinanoal statemenls give a tlue and fair wew, which is nct a matt
conSide￿d as part of an independent examinati(n'.
the financial statements have rkot been prepa￿ in a(tsydan￿ wilh the m8thods and prinuples of the
Statement of RecomTnended Pracbce for accounting and reporting by tharities applicable to charities
preparing their finanual statements in acwrd8nr£ ¥￿th the Finanual ReFNybng Standard applicat￿8 in the UK
and Republic of I￿land IFRS 1021.
I have no COM￿MS and have acm5s no other matters in (￿nnectiC￿ wtth the examination lo which attention
should be drawn in thi5 report in otder to enable a proper understanding of the finantial stalemenis to be reached.
Samantha Andrew5
Chartered Certffied Accountant
Thorne & Co.
Accountants
1 St Maws Street
Ross-on-wye
Herefordshire
HR9 5HT
Dated.. 25 SeptemtrRr 2025

THE NOVA MUSIC TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
UnTestricted R•strleted
funds
lunds
2024
2024
Totsl Unrestricted Restricted
funds
funds
2023
2023
To¢al
2024
2023
Notes
Incorne frorn-
RecoTding donations
Charitable aeb"V￿es
37,355
12.100
37,355
12.100
10,500
12,700
10,500
12,700
Total Income
49.455
49.455
23,2CK)
23,200
Expenditure on=
Charitable acbvities
49,707
49,707
23.087
23,087
Total expenditure
49.707
49,707
23.087
23,087
Net incomellexpendlturel and
movement in fund5
12521
12521
113
113
Rèeonclllatlon of funds:
Fund balanc8s at 1 January
2024
1,451
378
1.829
1,338
378
1,718
Fund balanc8s at 31
December 2024
1.199
378
1.577
1.451
378
1.829
The statement of financial actiwtses indudes all gains an(1 Ioss88 rertsjnised in the year. All irtome and expenditure
derive from continuing activities.

THE NOVA MUSIC TRUST LIMITED
BALANCE SHEET
AS A T 31 DECEMBER 2024
2024
2023
Currènt assets
Debtors
Cash at bank and in hand
11
385
1.744
379
7,054
2,129
7,433
Creditors.. amounts fallin9 due wlthln
one year
12
15521
15,6041
Net current assèts
1.577
1,829
The funds ofthe charsty
Restricted income funds
Unrestrided funds
13
14
378
1.199
378
1,451
1,577
1,829
The company is entiued to Ihe 8x8Fnption from the a￿￿[l requirement contsined in secion 477 of the Companies Ad
2006. lor the year ended J1 December 2024.
The directors ad(novAedge their responsitrmlities for comFtying Ihe rwuirements of the Ccffipanies Act 2006
with respect to accounting records and the preparalion of finan(xal slatetnents.
The rnembers have not requir8d lh8 Cr￿panY to c4)lain an au¢Jit of its financaal stateM￿ts the y8ar in question in
accordan￿ with Section 476.
These financial statements have been rx8pared in a¢(￿￿danc@ wilh the prow&ons ap￿1¢able to (￿MpanIeS subject
lo th8 small cornpan￿ regim8.
The financAal statements were approved by the twsle8s on 25 SeptembeT 2025
MrJSIRose
Trustee
ass
Trustee
CoTnpany ￿LStratiOn number 07280079 IEngland and Wales)

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng polici
Charity information
The Nova Music Trust Limthd is a Fmte CJwitsl￿e ¢)ynpany limi18d by gu8rantee in¢>xporated in England
and Wales. The registered office is 33 Ely Hace. Lond￿. ECIN 6TD, United ￿'ngdom.
1.1 Ba515 of preparation
The financi81 statements have been prepared in accordance the charitys goveming docurnent, the
Companies Act 2006. FRS 102 Yhe Finan(aal Repotting Standard applicable in the UK and Republic of
Ireland. and the Charitie5 SORP "AcoyJnb"ng and Reporbng by Chartbe5." Statement of Recornmended
practi￿ applicaNe to tharitses preparing Iheir accounts in aoxrdance with the Finana￿ Reporb'ng StaTrd8rd
applicable in the UK and Republic of Ireland IFRS 102)". The is a Public Benefft Entity as defin8d by
FRS 102.
The charity has tsken a(fvantsge of the p￿SlOn$ in the SORP for c*aribe5 not to prepare a statanent of
cash flows.
The finanual st8ternents are prepafed in 5tsling, is the ftkndion81 cuttency of (he tharity. Monet8ry
amounts in these finanaal statements ate younded to the nearest £.
The Iln8ncial statsrnents have been ￿pared under thè hi8torical o)st o)nvention, Imrxlffied to indude the
aluation of freehold properties and lo indude investsnent properbe5 and (%rtain ffinanaal instrui)ents at fair
valuel. The prinupal accounting poliries adopted are Set out below.
1.2 Going conc•m
At the time of approviThJ the financial statements. the In￿tee$ have a reasonable Èxpectation that the charity
has adequate ￿sOUrceS to continue in operational existence for the I0￿eeable future. Thus the trL￿ee$
ontinue to adopt Ihe going (x)n￿M basis of accounting in preparing the )Inanrial 5taternents.
1.3 Charrtabl8 funds
Unrestricted funds are available for use al the disuetion of the twstees in furtheranLE of their charitable
objectives.
RestricÈed funds are subjed to speufic condllron5 by dOn￿S or grantors a5 to h(yw Ih8y may be used. The
purposes aE￿ uses of the restricled lunds arE set OLrt in the notes to the financial ststements.
Endowment funds are subject to SFeryfic (x)rKlth% by doryjrs Ihat the (xtKtal rnust LE maintained by Ihg
chanty.
1.4 Incom•
Income is recognr5ed when the char5ty is legalty entitied to it after any performance (x)ndth"ons have been meL
the amounts can be Tneasured rdiably, and it is prcknable ihat income will be received.
C8sh donations are recrynised on receipL Other dma11t￿5 are rel￿nIsed the charity has b8en notified
ol the donation, unless perfomance conditions require deferral of the amounL Income tax recoverable in
relation to donations received Und￿ GiftAid or de￿5 of covenanl is re￿nISed 81 the time Dfthe donation.
L8gaa85 are recognised cffi rwxipt or otherwse rf Ihe (*arrty has been notffied ol an impending distribution.
th8 amount is knovm, and recwpt is expected. ￿ the arnount is known, the legacy is treated as a
contingent asset.

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Icontinuodl
1.5 Expenditure
Expenditure is re(ognised there 15 a legal (ff constructive oNigation to transfer economic benefit to
third paty, it Is probabSe that a transfer of ec£*Lomic beneffts wll be required in sethemenL and Ihe arnount of
the obligation be tneasured reliably.
Expenditure is dassified by activrty. The costs of each acbyity are made up of Ihe total of dir&1 costs and
shared costs. induding support costs invofved in undertaking each activrty. Direct costs attn'butstde to a single
activity are allocated directly to Ihat acbvity. Shared costs which contribute to more than one activity and
support costs which a￿ not attributsble to a single adivity are aptM)rboned belween those aCti￿tieS on a basis
consistent wrth the use of resources. Central staff cwts are al￿rated on the basis ol time spent, and
deprec4ation charges are allocated on the F¥)rbon of the asset'5 use.
1.6 Cash and cash equtvalents
Cash and cash equivalents indude ￿$h in hand. deFN)Sits held at ￿11 th banks, other shottrtem liquid
investments with onginal malurits"e5 of three n￿hS ¢y les5, and b8r& overdrafts. Bank overdrafts are shown
wthin borrowings in CUTrent liabl1￿'es.
1.7 Financial tnstrurnents
The Charity has elected to ap￿Y Ihe pro¥n￿OnS of Sedion 11 'Ba$i¢ Fin8na81 Ins1nJments' and Section 12
'Other Financial Instwments l&wes' of FRS 102 to all of its fin8ncial instruments.
Financial inthrnents are ￿CogniSed in the tharitys balance sheet then the charrty becomes paty to the
contradu81 pro￿S1onS of the instnjment.
Finandal assets and liabil￿e5 8Te offset. the net arnounts presented in the finanaal statements, when
Ihere is a lega15y enfoTceable right to set off the recognised amounts and there is an intention to sethe on a Net
basis orto realise the asset and settle Ihe liabÈlrty simuthieousty.
Basle Ilnanclal assets
Basic financial assets, which indude debtols and oxsh an(J bank balances, aTe initially rne8sur8d
transadion pri￿ including transaction costs and are subsequenlty cArried at arno￿5ed cost using the effective
interesl melhod unless the arrangemenl o)nstitutes a finanung transaction, where the transaction is
rneasured at the present value of Ihe future receipts discounted at a market rate of interest. Financxal 8ssets
da5silied as r8ceNable within one year are not arnorlised.
Basic financial Ilabllltles
Basic financial liabil￿.e5, induding ueditofs and bank loans are initially recognised al transaction price unle&s
the arrangernent c¢)nslTtuies a finanung transacti￿, vthere the debl Instr¢Jment is measured at the present
value of the future payments discounted at a market rate of intere5L Financ4al liabilities dassified a5 payable
within one year ar8 not amorbsed.
Debt instrurnents are subsequendy ¢￿rried at anvbsed c(tsL using Ihe effective interest rate method.
Trade cx8ditors are obligab.ons to pay for gcrfjds or Ser￿￿S that have been acquired in the Ordin￿ CDurse of
operations from suppliers. Amwnts payable are dassified as cjjrrent liabilities if paymenl is due wthin ofte
year or less. If not, they are presented as nOn4￿rrent liabilities. Trade uedilors are recognised inib.ally at
transadion price and subsequently rneasured at arTM)Ftised cost using the effective interest method.
Der8cognltlon of financial lia￿lI11e$
Financial liabilities are derecognised when the charyvs (xyrtrathjal obligations expire or are discharged or
can￿lled.

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢countlng pollcles
Icontlnuedl
1.8 Employee benefits
The cost ol any unuse(I hdiday enbuewnent is reo)gniwl in the wi(Ml in %thid) Ihe employee's services are
received.
Terminaticn benefits are recxjgnised imrnediately as an expense vhhen the tharity is dernon5trably committed
to terminate the ernployment of an ern￿Oyee or to prowde twminats.on benefits.
Crftlcal a￿oUntIng e5timat8s and Judgements
In the applitxtion of the charitys acrounting rM)ll￿eS, the trustees a￿ required to rnake judgements, estimates
and assumptions about the Ggrwng amount of assets and liabiltb85 that. are not Teadily apparent from other
sources. The estimates and asswated assumplions are bas8d on historical experience and other faCt￿S that
are ccffjsidereil to ￿ relevant. Actual results may differfrDm these estimates.
Th8 85ts"tnates and underfying assumptTrorhs are rtrwewed on an ongoing basis. Rewsion5 to accounting
8Stimates are recognised in the peri(Ml in which Ihe estimate is revised where the Tevision affect5 ￿lY that
period, or in the period of the Temsion and fiJtUTe peiicxjs wheTe the rewsion aff8cts both txjrrent and fijture
periods.
Incom• from recordlng donations
Unrestricted
nds
2024
Unrestrlcted
funds
2023
th)nations and grfts
37,355
10.500
Incom• from charltsble activities
Unrestrlcted Unrestrlcted
fvnds
funds
2024
2023
Cone•rt engagements
Inc0rn8
11,700
12,600
Recordlngs
Incx)rTt8
400
1CK)
12.100
12,700

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Exp8ndttur• on charftable activitles
2024
2023
Direct costs
Artist fees and Èxpenses
In5uranc8
Sundry
Venue and equipment
Music hirg
Bank lees
Accountancy
RerA)rd4ng ¢x)sts
20,442
654
17,243
641
345
1,417
750
123
168
2,400
105
102
604
23,354
49.707
23,087
Analysls by fund
Unr8strict8d fvnds
49,707
23,087
Net movement in funds
2024
2023
The net rnovement in fijnds is slated after chargiwluedtbrol..
Fees payable lor the independent examinab.on of the (*antys finana81
Statements
168
Trustees
None of the twstees lor any persons conne(aed ¥￿th them) ￿e1Ved any rernuneE3tion or benefits from the
charity durbng the year.
Employees
The average monthty number of employe&q during the yearvrds".
2024
Number
2023
Number
Total
There were no employee5 whose annual remuneral>)n was more than £60.LKMJ.
Taxalion
The charity is exempl frcffl taxation ￿ its acbvibes t￿USe all tts incorne is aptAied for c*arTtable PUTposes.

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Limited by guarantee
The company is a private COTnpany limited by guarantee and ConseqU￿ty doe5 not have sh8r8 c8Pltal. Ea
of ifs members is liable to cL*rtribute an amount not exceeding £1 towards the assets of the company in the
event of liquid8ts"on.
11 Debtors
2024
2023
Amounts falllng due within one year.
Prepayments and ac(nJ8d inix)me
385
379
12 cr￿lIOrs. amounts tslling du8 wlthln one year
2024
2023
Other creditOTS
Accruals and deferred in(x)me
5,100
504
552
552
5.604
13 RtstrScted fund5
The restricted fvnds of the th￿lty compwise the unexpended balances of donations and grants hdd on Injst
subject to $￿ffic condrtions by don(x5 as to how tw may be used.
At 1 January
2024
A131
D8cEmber
2024
378
378
Previous yèar.
At 1 January
2023
At31
December
2023
General
378
378
10-

THE NOVA MUSIC TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEAIBER 2024
14 Unrestrlcted funds
Th8 Un￿Strided funds of the chaTity comprise the unexpended balan(xs ofdonation5 8nd grants ythich are
not sul'ect to specafic conditions by donors and grdntors as to how they rnay be used. These indude
designated fund8 which have been set asKlg Imrt of unrestricted funds by thè trustees for speufic purposes.
At31
December
2024
At 1 January
2024
Incoming
resourcès
Resources
expended
General
49.455
149.707)
1,199
Prevlous year:
At 1 January
2023
Incoming
resources
R•sources
expended
At31
Decernber
2023
General
1,338
23,200
123,0871
1,451
15 Related paEty transactions
The company ent?￿d into a cA)ntrad during the year vrith Presteigne Festival of Music and the Atrts Limit8d
and was paid £400 12023 - £1001 for 5eNices perfomied at the Festival. Mr George V855, a director of the
company, is also a directc* of Pr8steigne Fes15val of Music and the Arts Limiled.
11