Companyregi51rati¢Jn numberCE005316 IEngland and Wale51
Charity reEi5tration number 1165405 IEnEland and Wale51
OVATION MUSIC
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
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OVATION MUSIC
LEGALAND ADMINisfRATIVE INFORMATION
Trustees
Mr N Davidson
MT N Oldharn
Mr S Morris
Chafity number IEnKland and Wale51
1165405
Company number
CECK15316
Independent examlner
Oliver Reod FCCA ACA
Jarnes Todd and Co limited
Drnyton House
Drayton Lane
Chichester
West &J55ex
England
P020 2EW
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OVATION MUSIC
CONTENTS
Page
TrustÈes' report
Independent exarniner's report
Statement ol flnancial activities
Balance sheet
Notes to the linantial statements
7-11
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OVATION MUSIC
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 AUGUST2025
The trustees present their annual rewrt and financial staiements for the yearended 31 August 2025.
The financial ststements hève been prepared in accordancÈ with the a£countin8 policies set out In note I to the flnanclal
statements and compty with the charity's governing document. the Companies Act 2006 and Accountlng and Reporting by
Ch8fltles.' Statement of Recommended Prattice applicable to charities preparing their accounts in accordan￿ with the
Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffective I january 20191.
Objerti¥es and adivities
The charity's objects are..
To advance the education of the public. particularty but not e¥clusively children and youn8 people under the age of
18 years, in the art of music in Portsmouth and Chichester and in such other parts of the United Kingdom a5 the
Trustee5 rnay from time to tirne think fit. particularly but not excluswely by the provision of workshop5, educational
opportunitie5 and opportunities for children and youn8 people to perform fflu51C.
To promote the development of young people in achieving their 5ki115, Capacities and upabilitie5 to enable thern to
participate in society a5 independent. mature responsible ifidividuals.
The policies adopted in furtherance of these objerts are-.
Carried out a number of music workshops including a pe￿OrtS. cholr throughout the year..
provided prartical work experience opportunities to childten and youn8 people..
staged fourteen performances leaiuring youn8 musicians lincludin8 children) ai a number of ¢ommunily events,
festivals and in a Khool..
Provided workshops to'NEETS' (Not in Education, Employment or Trainin81-
offered and provided free music education to vulnerable children.
In carryln8 Out the actlvltles above the trustees have had regard io the 8uldance Sssued by the Charity Comm15sion on publlc
beneflt.
There ha5 been no change in these durln8the year.
Publlc beneflt
The trustee5 have paid due to guidance issued by the Chority Commissioh in decidin8 what octivitie5 the charity Should
undertèke.
Achle¥ernents and performance
Stgnificunt octivities ochievements o¢oirtst objertives
The charity's main achievement5 include..
reachin6 out to a wider 8roup ol children and youn8 people in the local community and provlding thern with a
POSltive creative and 5UPPOrtive environment to express thernsefves through mus1C,'
hand5 on practical viork experience was offered to a nufflber of children and young people at music festiva15 and
concert5. Thi5 experience includeil sound. lighting and technKal supwjrt and volunteering with 50cial media and
marketing initiative5,'
providing young tnv51ClanS Wlth acce55 to 5VPPQrt 5bts at music fe5tiva15 and enabling confidence through thi5 type
of perforrnance,.
seeing children and young people interactinK With eath other in a POSitr¥e way and helping raise significant funds for
IoEal childrEn'5 charitie5 in addition to (hfation Musit.
Flnancial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use Should be maintained at
a level equivalent to between three and six rnonth'5 exp2nditure. The trustee5 consider that reserwes at this level will ensure
th8t, in the event of a signrficant drop ITr fundin& they will be able to continue the Iharty's current aitivities while
consideration is given to ways in which additional funds may ￿ taised. This level of reserves has bÈen maintainÈd throughout
the year.
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OVATION MUSIC
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST2025
At the year end the charity's cash rese￿e$ amounted to £29.27112024.. £20,780). The remaining reserves are used to facilitate
and further the charitable objectives in subsequent accountiTrB per*)ds.
Mojor flSks
The trustees have assessed the rnajor risks to which the charity 15 exposed. and are satlsfied that 5YSterns are in place to
rnitigate exposure to the Major ri5k5.
Stru£tiire* governance and management
The charity is setup as a Charitable Incorpornte (￿nISatIon ICIOI aNI ￿gIStered with ihe Charlties Commission for England
and Wales as chèrlty number 1165405.
The tru5tee5, who ère a150 the directors for the purpose of company law, and who served during the year and up to the date
of Signature of the financial 5tstemeTht5 were..
Mr N Davidson
Mr N Oldham
Mr M Rlthards
Mr S Morn5
IResiRfied 31 August 20251
Recruitment ond uppointrnentoltru5tees
Apart from the first charity trustees, every trustee must be appointed by a resolution pa55ed at a properly convened meeting
ol the charity trustees,
In selectin8 indivlduals lor appointment as charity tru5tee5. the charity trustees rnu5t have regard to the Skills, knowled8e and
experience needed for the effective administration of the CIO.
No person may be appointed 8 charity trLJ$tee at ¥ general meetih8 unless..
he or She is ￿¢0mMended for election by the Charity trustees.. or
not less than 14 nor more than 35 ¢*ardays befo￿ the date ol the meetifi8. CIO 1$ given notice that..
lil is Signed by a charity trustee entitled to vtste at the meetin
lill states the ¢harity trustee's intention to Pfokxjse the apwintment of a person as a charity trustee. and
Ilill is signed by the person who is proposed to show his or her willingness to be apptsinted
All chèrlty trustees who are entitled to rece￿ notice of a general meeting must be given not less than 7 nor more than 28
clear days. notice of any ￿$OlU1H?n to be put to the Me￿ingtO appoint a charity trustee.
The appolntment of a charty trusiee musr not (ause the number of charrty trnstees ￿ exceed any number flxed as the
maxlmum number of charlty trumees.
During the under review one of the charitls tnjstees, Nitk l)avidson. ￿ery￿d payment for management, administration
and ¢onsukancy services totslin8 £l0.￿)12024.. £16.5(K)I.
Suppller payrneTht pollcv
The company's current policy concerning the payment of trade £rediknfS is ￿ follow the CBI'S Prompt Payers Code (copies are
available from the CBI. Centre Point, 103 New Oxford Street. London WCIA IDUI.
The company's Current pollcy concerning the paymentof trade creditors is to..
settle the terms of payment with suppliers when agreeingthe terms of each transattion.,
ensure that suppliers are made aware of the terms of paymenr by Tnclusion ol the relevant rerms In contracts.. and
pay In accordance with the company's contrattual and other leeal oblieations.
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OVATION MUSIC
TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST2025
The tru5tees' report was approved by the Board of Trustees.
Mr N DavSdson
Date..
2010512026
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OVATION MUSIC
INDEPENOENT EXAMINER'S REPORT
TO THE TRUSTEES OF OVATION MUSIC
I report to the trustees on my examinatlon of the financial statements of (hfation Mus* (the charltyl for the year ended 31
August 2025.
Responsibilities and basis of report
As thè trustees of the tharity land also its diredots for the purposes of Com￿nY lawl. you are resw)nsible for thÈ preparation
of the financial statements in accordance wilh the requ1￿Ments of the Companies Art 21M)6.
Having satisfied myself th2t the financial statements of the charity are not reguired to be audited under Parr 16 of the
Companies Act 2006 and are eligible for independent examinat￿n. I report in respert of my examination of the charity's
financial statements carried out under 5ertion 145 of the Charities Act 2011. In carrying out my examination I have followed
the Directions given by the Charity Commission under settion 1451Sllbl of the Charities Act 2011.
Independent examlner's 51atement
I have completed my examinatlon. I conflrm that no matters have come to my attentlgn In connertion wlth the examlnatlon
glvlng me c8U5e to believe that In any material resF*rt'.
a¢countint re¢ords were not kept in respert of the charity as wuired by sertion 386 Of the Companies Act 2006.
the financial statements do not accord with those records", or
the financial statements do not £omply with accounti￿ ￿9¥I￿rnents ol se¢tion 396 of the Companies Act 2006
other than any requirement that the finowlal ststements iNe a rrue and lair v*w. which Is not a matter ¢onsldered as
part of 3n independent exèmination. or
the financial statement5 have not been prepared in accordance with the method5 and principles of the Statement ol
Recornrnended Practice for accountin8 ar￿ reportin8 by charities applicable to charitie5 preparin8 their financlal
statelnents In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of I￿14￿￿ IFRS 1021.
I have no concerns and have come across no other rnatters in connefflion with the examination to which attentlon should be
drawn in this ￿POrt in order to enable a proper unt1erstandingof the financial statements to be reached.
James Todd and Co Llmlted
Oliver Read FCCA ACA
Drayton House
Drayton Lane
Chlchester
West Sussex
P020 2EW
England
Date..
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OVATION MUSIC
ATEMENT OF FINANCIAL A￿1VITIEs
(INCLUDING INCOME AND EXPENDITUREACCOUNn
FOR THE YEAR ENDED 31 AUGUST2025
Unrestricted
funds
2025
Unrestricted
funds
2024
Notes
Income from..
Donation5 and legacie5
3.CM)O
42,919
4,580
30,778
Total Income
45.919
35,358
Expenditure oil..
3?,434
42,310
Total expendlture
37.434
42,310
Net In¢omellèxpendlturtl and movemtnt In funds
8.485
16,9521
Ae¢on¢lllailon of funds..
Fund balances at I Septern￿r 2024
20,054
27,006
Fund balantt$ al 31 Au8USt 2025
28.539
20,054
The statement of financial activ1t￿ include5 all gains and losses recognised in the year. All Income and expendlture derlve
from continuing actlvities.
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OVATION MUSIC
BALANCE SHE
ASAT31 AUGUST2025
2025
2024
Notes
Current assets
Cash at bank and in hand
29.271
20.780
Credltors= ¥mount5 f¥llinB due wl¢hln one year
17321
17261
Net current assets
28,539
20,054
The funds olihe ¢h•tlty
Unrestricted funds
12
28.539
20,054
28.539
20,054
The company is entitled to the exernption Irom the audit requirement contained in section 477 01 the Companies Act 2fM)6, for
the year ended 31 Au8USt 2025.
The dlre¢tor acknowledges hls responsibilities for comp￿Ing with ihe requirements of ihe Companies Act 2006 with respecr to
accounting records and the p￿paratiOn of financial statements.
The members have not requlred the compary to obtaln an audrt of its Ilnanclal statements for the year In question In
accordance with sectlon 476.
These financial 5titements have been prepared in actordance with the provisions •pplie4ble to ttJmpanie5 subject to the small
Companies regime.
The financial statements were approved by the trU￿eeS on 201.¢Slltsh
Mr N Davidson
Trustee
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OVATION MUSIC
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 AUGUST2025
Accountlng pollcles
Charity inforniation
Ovation Mu51C 15 a CharitsblÈ Ir￿orpo￿ted Ot8anisatiDn ICIOI. ￿K•Stered wrth the Charities Commission for England and
Wales as tharity numbeT 1165405.
1.1 Bas15 of preparatlon
The financial statements have ￿en pfepared in èctordance with the chafity's 8ovÈrnin8 document. the Companiès Act
2006 and "Accounting and Reporting by CharitiÈs'. Ststement of RecommÈnded Practice applicable to charitles
preparlng thelr accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 leffective l January 20191" The charity is a Public Beneftt Entity as deflned by FRS 102.
The charity has rèken advantage of ihe provisions in the SORP for charities applyiTh8 FRS 102 Update Bulletln I not to
prepare a Statement of Cash Flows.
The flnan¢ial statemenis a￿ prepared in sterlin& wh￿h is the funttional CUr￿ncY ol the charity. Monetary amounts In
these flnancièl statements are rounded to the nearest E.
The financlal staternent5 ha¥e been prepared under the historical cost convention and the prlnclpal accountln8 pollcle5
dopted are Set out below.
1.2 Golng concern
At the time of approving the financial statements. the iwttees have a reasonable expeciation that the charlty has
adequète resources to continue in operational existence for the foreseeable fuits￿. Thus the trustees contlnue to adopt
the going concern basis gf accounting in preparing the linancial statements.
1.3 Charltable lund5
Unrestritted funds are avallabie for use at the discretion of the trustees In furtherance of their charitable oblectlves.
Restrlcted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and
Uses of the restricted funds are sei oui in The noies to The financial statements.
Endowment funds are subject to 5pecrfic condition5 by donor5 that the capital must be maintsined by the charitv.
1.4 lfi¢ome
Income Is recognised when the charity is legal￿ entiiled to r( after any performance conditions have been met, the
amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recoEni5ed on receipt. Other donations are ￿COgnised once the charity ha5 been notified of the
donation, unle55 perforrnantr condrtions require deferral of the amount. Income tsx recoverable in relation to
donations received under Gift Aid or deed5 of covenarbt 15 ￿cognised at the time of the donation.
Legacie5 are ￿tognised on reteipt OT OthÈwwisÈ rf thè charity has r￿trf1@d of an IM￿ndIng distribution. th
amount is known. and reteipt is expetted. If the amDUnt is ntst kn¢Jwn. thÈ14aty is trÈatsd as 3 tontingent asset.
1.5 Expendlture
Liabilities are recogni5ed as expenditure a5 Soon as there 15 a legal or construrtwe obligation comrnitting the charity to
that expenditure, it is probable that a ttan5fer of econotnic benefits will be required in settlemerit and the amount of
the obligation can be measured reliably. Exppnditure 15 accounted ft>r on an accruals basi5 and ha5 been Ila55ified under
headings that aggregate all cost related to the category. Where costs cannot be dirertly attributed to particular heading5
they have been allocated to activitie5 on a ba51S COn5iStentwtth the use of re50urce5.
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OVATION MUSIC
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Accounting policies
Icontinuedl
Expenditure on charitable activtties intludes all expenditure diTertly ￿lating to the objerts of the charity. Expenditure
on the raising of funds r*presÈnts eX￿ndIt￿re intufred in pnerating intome to finante the tharity's activities and
governance.
1.6 Cash and cash equivalents
Cash and cash equivalents include Cash in ￿nd. deposits held at call with banks, other short-term liquid Investments
with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowines in
Boskllmnclolossets
Basic flnanclèl assets, whlch include debtors and Cash and bank balances, are inltially measured at rransèrtlon price
Includlng trènsa£tion costs and are subsequently carr*d at amortised cost using the effective interest method unless
the èrrèngement constitutes a financing transaction, where the transartion is measured at the present value of the
future receipts dSscounted at a market rate oi Interest. Flnancial assets classifled as recelvable within one year are not
amortised.
Boslcllnonclol Ilobilltles
Basic financial lièbilities, Includlng creditors and bank loans a￿ initlally rern8nlsed at transattion price unless the
arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the
future payments discounted at a market rate of interesi. Financial liabilities Classilied as payable wlthin one year are not
amortised.
Debt Instruments are sub5equentlycarrled at amortised cost, using the effertive Interest rate rnethod.
Trade credltors are obligations to pay for goods or services that have been acquired in the ordinary course of operations
from suppllers. Amount5 pa¥able are cla55ified as current liabilities tf payment is due within one year or le55. If not, they
are presented a5 non-current liabilities. Trade creditors are reco8nised Inrtialtv at transartion price and Subsequently
measured at arncrti5ed c05t U5in8 the effective interest fflethod.
Derecoqnltlon oJflnonclolllobllltles
Flnancial liabilities are derecognised when the charlrfs contrattual obll8aiknnsexplre or are dlschar8ed or cancelled.
1.7 Employee benefrt$
The c051 of ony unused holiday erbtitlement is reco8ni5ed in the period in which the ernployee's services are received.
Termination benefit5 are recognised immediatety a5 an expense when the charity 15 dernon5trably cornmitted to
terminate the ernploymerbt of an employee orto provide terrnination benefits.
Itlcal accountlng estlmates andludgements
In the application of the charity's accounting policies. Ihe trustees are required to make judgements, estlmates and
a55umptions about the carryin8 amount of assets and liabilities that are not ￿adIlY apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual re5uIt5 rnay ￿￿er from these estimate5.
The estimates and undertyinE assumptK)ns afe reviewed on an ongoiThg ba515. Revi5i0n5 to accounting e5timate5 are
recogni5ed in the period in which the estirnate is Wi5ed where the revision affects only that perio(l. or in the period of
the revision and futUTe peri￿5 where the revi5iorb afferts ixAh curTent and futu￿ peri(Kl5.
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OVATION MUSIC
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Income from donatlons and legades
Unrestricted
funds
Unrestricted
funds
2025
2024
Donations and gifts
Grants
3.000
2,580
2,000
3.CM)O
4,580
Income from charltsble actmtles
Unrestrlcted
funds
202S
Unrestrlcted
lunds
2024
Charltable actfvltles
31.969
10,950
22,218
8,560
Room hlre
42.919
30,778
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OVATION MUSIC
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Expendlture on charltable actl¥ltles
Charitable
artivttie5
Charitable
activitie5
2025
2024
Dlrect £05ts
Rent and rate5
Studio and venue hire
ManagÈmÈnt consultancy
Tutors
Repairs and maSntenance
Other expenses
6.969
2.798
10.000
15.900
322
743
8,859
3,717
16,500
11,903
605
36.732
41,584
Share ol support and governance costs (see note 61
Governance
702
726
37.434
42,310
Anatysls bylund
Unrestricted lund5
37,434
42,310
Support £tssts alloraled 10 a(Ilvltlts
2025
2024
Governance costs
702
726
Analysed between:
Charitable attivities
702
726
2025
2024
Govemarbce costs comprlse..
Accounrancy
702
726
702
726
Net movement In lunds
ZOZ5
20Z4
The net movement in funds is stared after chargingllcreditingl..
Fee5 payable forthe independent exafflination of the chartty's financial ststements
10-
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OVATION MUSIC
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST2025
Trustees
During the year under review one of the charity'5 trustee5, Nick Da¥id50n, received payment for managernent,
dministration and consuttancy Services totsling £I0.C￿(2024_. E16.STr)1.
Employees
The average monthly number ol employees during the yearwas..
2025
Number
2024
Numbe
Total
The￿ We￿ no emplgyees whose annual remuneratlon was MO￿ ihan £60.W).
10 Taxatlon
The charlly is exempt from taxaiknn on ils auivilies because all its I￿orne Is applied for chariiable purposes.
11 CredIto￿. afflountsfallln4 due whhln one
20Z5
20Z4
A¢¢ruals and deferretl Inttjme
732
726
12 Unre$trl¢ttd funds
The ￿n￿striCted funds of the charity comprise the unexpended balances of rfonations and grants which a￿ not subject
to specifi£ conditions by donors and grantots as to how they may be used. These in£lude designated funds which have
been set aside out of unrestricted funds byihe trustees for specrfic purposes.
At l September
2024
In¢omini
Resour¢es
expended
Al 31 August
2025
General funds
20.054
45.919
137,4341
28,539
Previou5 year:
At I September
2023
Incoming
re5our¢es
Re50urce5
expende41
At 31 August
2024
GÈnÈral funds
27.IM)6
35.358
142,3101
20,054
13
Rel•ted party trnns•rtions
Aside from those already disclosed underthe Trustees Mte. there were no fijrther disclosable related party tran￿rtionS
during the year12024- none).
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