Charity Règistration No. 1177274
OIMODERNT FOUNDATION
TRUSTEES. REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023

OIMODERNT FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustee$
J Carv811 (Chalrl
E Bonnia {appointed 16 March 20231
J Quash (appointed 11 D￿rnber 2022)
O TI￿lat
G Barnett (resigned 11 D8c*mber 20221
V Marriott (resigned 11 December 2022)
H Pellba¢k (resigned 11 DecernbeT 2022)
Charlty nUM￿r
1177274
Company nUM￿r
CE013342
Princlpal addrèss
8 Nassau Road
London
SW13 9QE
Inde￿ndent ExamingVB
TC Group
The Coutyard
Shoreham Road
Upper Bogdlng
Steyning
Wèst Sussex
BN44 3TN
Bankgrs
Transferwise
56 Shoredilch High Street
London
E1 6JJ
Transferwise Europe SA
Avenue Louise 54, Room S52
Bruissells
1050
Belgium
Nalwosl Bank plc
Chatham Rs¢s We8tem Avènue
Wat¢tside Court
Chatham Martlime
Chatham
ME4 4RT

OIMODERNT FOUNDATION
CONTENTS
P8ge
Truste8s' report
Independ¢nl examinerf8 report
Statement of finanaal a¢tivibes
8818nce sheet
Notes to the accounts
7-10

OIMODERNT FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees Present their Rgpcrt and the FinanrAal state￿nts CIO for the y88r ended 31 March 2023.
LEGAL STATUS
Thg CIO was fomed on 21 February 2018 and is govemed by its Consltution. Its registéred offi¢0 Ss at 8 Nas8au
R08d, London SW13 9QE.
The registered charity number is 1177274.
OBJECTS
The objeds of the CIO a￿ for the public b8nÈfit to promot8 the education of the public on the subiert of rnu$l¢ by
the organisation of public concerts and the presentation of performances of music, including, bul ng1 limited to.
concerts, master classes, musi¢ camp5, seminars, workshops and ￿mmISsIon[￿g of works of musi¢.
TRUSTEES
On 11 Decembèr 2D22, Geoffrèy Bainott, Val Marriott and Helena Pellbac*, thg I￿nding Iruste8s resignod,. Jon
Catvell was appointed chairman of the trustees.. and Ben Quash w88 appolnled atW8tee. On 16 Marth 2023 Emma
Bonnici was appointed a trustee.
ACTivfTIES
In April 2022 the Olmodernl Chamber Orchestra p8rfomied in Lithuania at Ihg Klaipéda ConcÈrt Hall and ￿thUanIan
Nats'on81 Philharmonic Concert Hall.
In May 2022 the Chamber 0￿hestra gave a series of concert Babel-A 8allef of Sounds in the TonHalla, MunlGh.
In June 2022 the week long Festw81 Olmodemt took pla￿ In Sweden. at last unaff¢cled by Covid.
The Ojmodernl Soloigts perfomi&d wlh Luciana Moncini at the Earty Music Festival in Riga in July 2022, and later
that month the Chamber Orehestra was joingd by the Trondheim Voices in Di￿la1 Pootry Th& Human Touch in
Munich, Raw S¢hmid béing tho compo$er.
In August 2022 the Chatllber Or¢heslr& was in residonce at the Young Euro Classic 8t the Konzerthaus, Berlin.
and later pgrfomi6d al The Stiftung Schleswig-Holst&in Muslk FestlV81 In Folk Tune al the Elbphilharmonie
Hamburg.
In September 2022 thé ONodernt Sttloists perfom7ed in Turln at the MITO Féstival, Lightning Strikes,. and the
Chamber Orchèstra PErformed at Konzertsaal, Mariènmunster CoN8y - knt¢rary-MusiGal Festivak, Saint Bavo's
Cathedral, Ghent Flandars Feslival Ghent- Lwping Time., and with Evgtyn Glennie at the Frauenkirthe, Dresden
Aus der Tiefe der Gèfuhle.
In Octttber 2022 Hugo performed with the KammerakademiÈ Potsdam at Nikolaisaal Groser Saal, Potsdarr Di51anl
Light,. the Olmodèml Soloists perforn￿d at S¢hloss Elmau,. aw)d the Chamber Orchestra perfomi8d 81 the Wgmore
Hall, London Roarlling Spirits with Christoffer Sundqvist (darinet} and MiklO8 Lukacs Icimbalonl.
In Novembr 2022 Hugo perfomied wilh the Camerala Slrumentsle 'Citta di Prato. the Teatro Polltgama Pralose.
Ptalo {and again in January 20231.. and the Olmodefnt New Gen8ration F¢lows p&rf¢)mied atthe Arvo Part Festival
in Oxford.
In February 20231he ChamberOrchè51ra performed *lhe reeently opened Queen Sllvla Concert Hall in Stockholm
In collabor81ion with Lilla Akad•mien land again in Mard) 2023)- Hugo performed with Ostrobothni8n

OIMODERNT FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Chamber Orchestra in ChLtrch of Kokkola, Finland.. and with Simon Crawford -Phillip$. piano- the Kamu8 Quartett.
and the Tapiola Sinfrmietta al the Tapi018 Cultural Cèfttre, Finland.
In March 2023 Hugo performed wllh the Swedish Chambw Orthestra in the Orebro Konserthus, Sweden,. with the
Deutsches Symphonie Orchesler al the Philharmonie Berlin under the balon of Robin Ticciati., and with the
Chamber Orthestra and Siglo d'ore al the wi9￿￿ra Hall Season Launch.
In April and May 2022 webinars for the Olmodernt Academy were delivered by Bén Quash Purgati￿ and
Illumln8tion,' James Canton The P0tifjn￿ of T￿eS,. and Elvzabeth WI80n Th8Avant-Gard8 <)n thg Peiiphery.
FINANCES
Following advice from ils a¢xountants that owng lo the rev¢rse ¢harge the CIO'S turnover for VAT purposes hod
èx￿eded the threshold of £85,0(M) the CIO applred to be rpgisler6d for VAT in August 2022. In F•bnJary 2023
HMRC. having registered the CIO for VAT on 1911r23 with effect from 1111122, deregislered it wllh effect fr￿7
513r23, giwn9 as their ￿880n"YOU Èilherdon't ￿eM to be making tsxable supplies or intènding to.. The CIO replied
Ihè CIO intends to Carry on business as usual on thè basis that il is not registered for VAT and does not nèèd to
Fee in￿rne in tho year amounted lo £154,549.
By far th8 largest compon8nt of donations in the yearwas a Sum of £185.542 {Q10,0001 received from Sliftelsan
Olmodernl, which is Olmodgrnt Foundation's counterpart ¢grporate 6ntity in Sw¢den. In April 2021 it was agreed
that the Stiftelsen transfer futKls to the CIO that the CIO may discharge expens&s property inGurred by
th8 Stiftelsen al the Stiftelsen'$ request.
The only other significant donations We￿ £900 Irom the Estonian Institute as a contribLrtion to arti815' expenses
and £31X) from Mr and Mrs Howat. There was no campaign to raise voluntary funds.
Total expenditure in the year amounted lo £407.922. This comprised mo511y the payment of artlsts, fees thelr
travel ex￿￿Se8.
The indirect Costs of administratlon were £46,380, bèing the f¢95. commissions and Éxpenses of the G&néral
Manager (employed by the Stiftel$enl and the self*mployed Production CoordinatorJProjecl Managèr.
The fee for independent eX￿inatiOn of the accounts and thelr prepa3lion was £1.440.
At 31 March 2023 the bank balance stood al £10.334 (31 Mafrvh 2022 £54,095). All funds are hold in storting and
euro accounts with Wis8.
POLICIES
Thore have been no Changes to the poliuès adoptod by th8 Tru8lees in 2018119 in rglalion lo risk management,
c￿nflictS of Interest, complaints and data privag.
The Trustees revlew internal financial controls al least 8nnually. They were last rBviewed in October 2022 in the
context of an update lo the dabit card policy, first adopted In December 2020. Th• Honorary Treasur8r prepares
monthly staternents of rèceipts and paymènts. All oxpenses are supported by invoices. held in ele(Xronic form. The
majority of the larger paytnents oth ol the account are paid by the Hon Treasuror by bank Iransfei against invoices
which hsve been approved for payment by Hugo Ticciati. Travel and out of pockèt expensos are rnoslly settled by
the use of debit cards.

OIMODERNT FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
STAFF
Hugo Ticciati, DireGlor of th8 CIO. is nol 8n employee and re￿iveS no r8muneratlon from the CIO.
The CIO has no employee8. Administrabve assistance Is provided by a selfomployed Produthn
CoordinalorlProject Manager, who charges fees for the adJThnistration of6p6cffic assignments.
RESERVES
All the CIO'S funds are unre8tricted and are required to pay thÈ fees and expénses incurred in the presèntation of
perfomianees of music 8nd educational programmes relating to music. The Trustees, reserves policy was updated
On 7 Mar(* 2023 and is 45 follows'a 3 monthly budget is lo bè prepared on a reasonable worst case basis, starting
1 April 2023. The Sliftelsen will ensure that the CIO has suffici¢nl funds to meet thè anticipated expendilurewilhout
r&I￿ng on any fee due from a promol8r for that purpose. If for any reason the Stiftelsen is unable lo put the CIO
sufficiently in fvnds steps are lo be taken to reduc8 comrnilments 80 that there is no danger that the CIO wlll be
unable lo pay its debts as thèy fall due..
INDEPENDENT EXAMINATION
The Trustees arè responsible forlhe preparation oflhe accourtts. whith are not required to be audited. Aeeordingty.
they have been the subject of a report by an ind8pèndent examiner. whose report is sel out on thè followtng page
of this document.
Approved by the Trustees and signed on thèir behalf by..
Jon Carv¢ll
Chair
Dètèd...25 September 2023

OIMODERNT FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OIMODERNT FOUNDATION
Indepèndènt exarninerf$ report to the Irvstees of Olmodemt Foundation
I r8POrt to Ihg Iruslees on my examination of the accounts ol Olmodèmt Foundation for the yèar 8nded 31 March
2023.
Respon8ibilib"es and basls of report
As Ihe twsteès of the charity you are ￿SPonSible for thè preparalion of the accounts in accordance with the
requirements of the Charities A¢t 2011 c'the AGV'I.
l Teport in resped of my examination of the accounts carried out under section 145 ofthe 2011 Act and In ￿ryIng
OLrt my examination I hav• followed all the appli¢ablè Dlrections given by th? Charity C¢mmission under section
145{51(b) of Ihe Act.
Since the Charrty's gross income ex￿eded £250,000 your éxaminer must bè a memb8r of a body Ihsted
in séction 145 DI the 2011 Act. I conffimi that l am qualrfied to undertakè the examination becausè l am
a m&mber oflhe Association of Chartered Certified Accountants, which Is one of the list8d bjdies.
Iftda￿ndent examinerfs stat•m•nt
I have completed my examination. I cx)nfimi that no material mattors have come to my attenlk)n in wnn8ction with
thÈ èxamination giving me causè to believe that in any rnatorial respect..
11} accounting re￿rdS were not kept in respect of the chadty as required by section 130 of thè Act.. or
121 th8 Bccounls do not accord wlth those records", or
131 the accounts do not cornply with the appIl￿ble requirements conGeming thÈ form and content of
accounts set OLrt in thè Charities IAceounts and Reports) Regulations 2008 other than any
requiTement that the 8w)unts give a 'true and fair view which Is not a matt8r considered as part of
an independent examination.
I hav• no conGorns and havÈ Come across no other mattèrs in conneditin with the Examination to w￿.Ch attention
should be drawrh in this report in order to enabl8 8 p￿per und¢rstanding of the accounts to be
reached.
Mr Mark Cummlns FCCA, lorand on bghalfofTC Group
Th8 Courtyard
Shoreham Rtsad
Upper 8eediny
Steyning
West Sussex
BN44 3TN
Dated..

OIMODERNT FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Unre8tri¢tsd
Funds
Total
2023
Total
2022
Note8
Ineome from".
Donatigns and grants
Charitable 8¢twilies
186,843
154,549
186,843
154,549
175,135
118.833
Totsl incom¢
341,392
341,392
291,968
Expenditure on-
Charilable aelivities
Charitable Proje¢ts
407,922
407,922
216,999
Totsl expgndlturg
407,922
407,922
216,999
N•t Incomellexpentfiturel and
n•t movement In fund8
66.5301
{66,5301
74,969
Reconeiliatlon of funds
Total fvnds broughtforward
82.105
82,105
7,136
Total funds ¢arried forward
1S,575
15,575
82,105
There aro no recognised gains or lossés Oiher than fhose reported on the Statement of Flnancial AchV￿eS. All aclivitles
are cfassed as o)ntinuing_ An incoffie and exp8ndtiure in 2023 atKI 2022 was unrestridod.

OIMODERNT FOUNDATION
BALANCE SHEET
AS A T31 MARCH 2023
2023
2022
Currgnt a¥sets
Debtors
Cash at bank 8nd in hand
6.681
10,334
29,450
54,095
17.015
83,545
Creditors: amounts falllng due
wÉthin one year
11,4401
11,440}
N*t eurrgnt assets
15,575
82.105
Totsl assets less curront Ilabllltle$
15.575
82,105
Net as$gts
15.575
82,105
The fiJnds ofthe charity
UnreslrKted funds
15.575
82.105
15.67S
82,105
The a¢o)unts were 8PPTovod by the Board on 25 SèptÈmber 2023
J Carvell
Trustee Ichairl

OIMODERNT FOUNDATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
AccountEng pollcSes
8agi$ of preparation
Thè aeetsunts h8vÈ been prepared in accordanc8 with Aecounting and Reporting by Charities.. StAtém8nt of
RÈeJ)mmended Practitt￿ appltcablè to tharitiès prÈparing their a¢¢ounls in 8￿rdance wilh the Finana
Reporting Standard applicable in the UK and Republic ol Ireland (FRS 102) (effective 1 January 20151
(Charities SORP IFRS 10211 and the Charitbes Act 2011.
Olmodeml Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
Init1811y reCI￿nIS￿d 81 hi$tori¢al ¢ost or twnsa¢tion Val￿ unless otherwise $181ed in the ￿le￿ant accounting
policy note(sl. There are no material uncert8inlies 8b¢ut Olmodernl Found81ion's ability lo continue 88 a g(>ing
concern. This condusion takes into account the financial effect of the COVID-19 pandemic.
The functKJnal currency of the charity is pounds sterfin9. Items are rounded lo the nearest pound.
Cash Flow Ststemgnt
In acwrdance with Section 7 of FRS 102 the thartty is claiming gxorllption from the Tequiromgnt to piepare a
cash fflow statement on aco)unt of its svze.
Income
Dona*ons and otherforms ofvoluntsry income are recognised when the chartLy has entidem@nt to tho incom8.
the income is mèasurablè and il is probablè that the ch81ity will rèceive thè income.
Income from charitable activities con8￿ts of fees received for performance activity. Income is recognised upon
delivery of the activity lo which the income relates.
Exponditure
Ex￿n￿lture is accounted fr)r on an aeexuals ba￿S wth the irrecov8rabl8 818mant of VAT IndUd￿ with the item
of eX￿n$0 lo which il relates,
Charttable expenditure comprises those costs incurred by the tharity in the deliv8ry of its activitips and 8ervice8
for its benefiuaries.
Govemance costs (Induded within support costs) indud8thos6 costs ossouated with me8ting the constitutional
and ststutory r8quirem8nts of thé charity.

OIMODERNT FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng Pollcles
{eontinued)
Fund ac¢ounting
Funds hèld by the chartly are either..
All of the charitls funds aro unrestricted fvnds. Thesè are funds wlh¢h Can be used in see￿rdan￿ with the
Charitable objè¢ts al the dks(¥elion of the trustees and which havg not beèn designal¢d for other purposes.
Taxatlon
As a charity, ONodemt is exempl fr¢m tax on charrtable ineA)me and gains to th8 axlenl that these are applied
to its tharilable objècts.
Creditors and provisions
Creditors arKI provisions are recognised where the charity has a presenl obligation r8sutting from a p851 event
that will probably result in the transfer of funds to a third party and the 8munt duo to settle the obligation can
be measurèd or estimated reliably.
Ca$h at bank and In hand
Cash at bank 8nd in hand includes cash and short térm highly liquid inv8Stments. Tho Trustees seek to use
%hort term deposits where possible to maximiso the retum on monies hold at the bank and lo mBnage cash
flow.
Forèign exchange
The chartvs presentational currency is Pounds Sterling. Transactions OC(￿rring in foreign currency throughout
the year have been translated usiig publicly 8v8ilable average exchangè rates.
Monetary assets 8nd liabilthès denominated in foreign cAJrrenaes are translated into Sleding * the rates of
exchange ruling 81 the balance sheet dale. All foreS9n currency difforences arè recognised in expenditurè on
raisrng funds.
1.10
Estimates and ludgements
In the appliGalion of thè charity's accounting policies, the trustees are required to makÈ judgements, e81imat8S
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
80urces. Thè eslimalos and asso(i8led assumptions are based on historical experiEnce and other factors that
are consldered to be relevant. Actual results may differ from these esllmales.
Tha estirnates and undeflyng a8sumptions are revigwed on an ongoing basis. Revislons lo accounting
esi'm8tès are rEwgnised in Iho period in which the estimate is revi￿d.
The Iriislees do not considèr thatthere are any criti(sl estimates or areas of judgement that need to be brought
to the attention of the readers of the financial statomènts.

OIMODERNT FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Trusts• remunerntion
Al the trustees donate iheir lime spent running the eharity on 8 voluntary basis and (k) not receive any
rgmuneratien for Iheirwork as trustees.
Expenditurg
2023
2022
Ch8ritsble activltle•
Charitable Projects
Support costs
406,482
215,559
1.440
Total
407,922
216.999
4 Support co#ts
2023
2022
Gov8mance costs (Independent examination)
1.440
1,440
1,440
S Employees
Thè charriy had no employees during th8 yèar12022.' nwel.
6 Trusteès
During the yè8r no tru5t?e5 wefe reimbursed any èxpenditure 12022.. none). There are nu related party
Iransaclions to dis¢lose otherlhan trusteè donations (details olwhiej) are disclos￿ in the Truste¢s' Report).
Debtors
2023
2022
Trade debtors
8.681
29.450
6,681

OIMODERNT FOUNDATION
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Cr•dltots: amounts falling du& wlth5n onè year
2023
2022
Accruals
Iwo
1,440
1.440
1.440
9 Control
The chartiy is underlhe control of Ihe Trustees.
fo Charlty Infom)ation
Olmodernt Foundation is a Charitablè Incorporated Organisation regisler8d in England and Wales. The
tharity's r¢glslered number and r•gislered offiGe address can be found on the legal aw)Lf administrative
Inlorrnation page.
ID

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