Char*y RegiBtrnti¢)n No. 1177274 OIMODERNT FOUNDATION TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
OIMODERNT FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Tru#ts¢• J Carvell (Chairl E Bonni J Quash O Ttiati Charfty numb•r 1177274 Company nUrnr CE013342 Principal addreBS 8 N8S8au Road London SW13 9QE Ind8pondent Exarraner8 TC Group The Courtyard Shoreharn Road Upper Beeding Steyning W@st Suss8X BN44 3TN Bankero Tran$lgrwise 56 Shoredileh HKJh Str8et London E1 6JJ
OIMODERNT FOUNDATION CONTENTS Page Trwtees, report Ind•pèndènl èxaminèfs r•port Statemenlorrinanaal aclNities BaJanc8 sheet Notes to the acLounts 7-10
OIMODERNT FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The TteE5 present their R8POrt a1 the Financial Staternents for the year eed 31 March 21r24. LEGAL STATUS The CIO was furrned on 21 February 2018 and is govemed by its Constitution. Its regi8t8red Offi is at 8 Nassau Road, Loon SW13 9QE. Th• fogist•r tharity number is 1177274. OBJECTS Th¢ objects of the CIO aw for the publ¢ b¢nafft to promote the education ol the public on the subjed of MUS by the organt8ation of public cxjncerts and the wesenlaticn of perftsmiane•s of musi& including. but not limited to, ncèrts, master dasses, music camp4 s&minars. workshops and cornmi8sioning of new works of music. TRUSTEES Th8re has b86n no chang8 in th8 trustee8 this y8ar. AGTIMTES In Apn"12D23 Hv90 perf)mèd in Esttrnia Concert Hall under baton of Andr8$ KAljusté witt) the ColgIuM Muslcale and Estonian National Symphony Orchestra., and In the Queen Silvia cOnrt Hall in Stodiholm wth Dam8 Evelyn Gl&nni8 With the Ensemb18S 8nd Orchestra of the Lilla Akadamien. In May 2023 Christoph•r Enloe rwived the Olmodernt Composition Award for Di5coursY for FI8KK) Trio. In June 2023 F8stival Olmodernt took plac8 in Sweden ov6r 5 days lebrating music of Brahms. In July 2023 OIModem¢ Sdoisls took part in F8StW81 Entroterre., and IhB Charnber Ord)estra performed at the Marvao Fg$Oval in Portugal, In Ajgusl 2023 some ol the Olmodernt Soloists look part in th8 F&stival Mu5ique en Charolai>8rionnai$ in Beryundy over three days. Hugo playth and conducted at the Nofdlané Musikkf8Stuké in Norway, tho sehlesw- Holstein Music Festival In Gem)any', at the KongreGS Palais, Fastsaal, Kassel, also in Gerrnany. thè 19th Int8mational Chopin and His Europe Fastival in Ihe Warsaw Philhamionic Concert Hall, Poland,. and the Chateau de Tannay, Tannay, Switzertand. In Septernber 2023 the Olmodemt Chamber Orchestra performed at the Helsinki Fe8bval in Finland with Jorgen van Rijen. trombonèand Johan Bridger, p8rcu5sion,' and atthe Vio Nova Kunsfest in COeY, Gemanywith Marcelo Nisinrnan, bandonèon and Julian Arp, c8110. Hugo play$d with the Vasteras Sinfoni?Ila ¥nd8r Simon Crabvford- Phillp5 at the Vasteras Konserthus. Vasl8ras, Sw8d8n.' and hth the Chamber Orthestra Kremerata Battica at th8 tromerala Balbca Festival in the Dzintgri cOnrt Ho11, Jumiala, Lal¥Aa. The Olmodernt Soloists p8rfomed at the Fl8TrJer8 Feslnial in Ghent, Belgiurn. In October 2023 Hugo play 2nd condurAed th8 Lithuanian Chambèr Orchestra at the Ltthuanran National Philhamonic Concert Hall. Vilniu$. Lithuania: the Olmodernt Soloist5 played at the Queen Silvia Concert Hall in Stockholm,. and Hugo Igd the sqart Chamber Orth¢$tra with Marzi Nyrnan elBdri¢ gijitar at the Hospitalhof, Sluttgart. In November and D8rnber 2023 Plu90 led the LÈlasinfonvattan in the Krlstlnehallen. Falun. Sweden and played and direcjed Marten FalK gultar and the En$gmbk and soloists frorn Lilla Ak8d•mi•n at the Queen Sifvia Conc¢rt Mall.
OIMODERNT FOUNDATION TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In February 2024 the Olmodernt Soloists perfornied at st Mary's Chureh Barn•s for the Barne8 mu8icSoty. The Olmodeml Chamber Orthestra playèd in the the d8y Winter Fèsbval in the Queen Silvia GOnrt Hall. Hugo played at th8 KOln8r Philharrnon, Cologne and the Konz¢rth#us Dorlrnund G8rrnany witt) the WDR Sinfonlgoh0ter. Hugo played and conducted Catneota strumenta Citta di Prato at T88tr0 PDlrt8ama Pratese, Pmto. ltsty. In Mareh 2024 Hugo played with and cond19d.. thè Ostrobethnla Chamber Orth8sra and Central Ostiobothnia Chambèr Choir at censeNatol Hall Karteby. Karby, Finland, th• Strings from Conservatorio V. Bellini DI Calanva at B88ilica Santuario di Maria Sanli88ima Annunziata al Carmine, Palerrno, Italy Th& Olmodernt Principals played with Ema Nikolovska SDpranD, Alasdaii Beatsan piano, the Lilla Akadèmiens kammarorke6ter at the (]ueen &fvia cOnrt Hall. HNANces Fee income in the year 8rn0Unted to £65.68712023'. £154.5491. oon8tnS totalkd £161,19412023.. £186,843). By far the 18rg88t component of these was £153.9781É180,0001 receNed from Stiftel8en Olmodemt, which is the CIOS counterpart notfor wofit Corporate entity in Sweden. In April 2021 It was aged that the St"fftel8en may transfer funds to the CIO and that the CIO may discharge 8ypènsès opedy incurred by the Sbftgknn at the Stift&lsen's request. The only other donatiDns excegding £500 were £4,8001,000l from Flerian Leonhard and £2,5031É2,9261 frcffl Hu90. Thèrè was rte campaign to rakse voluntary fvnds Totsl exp6ndrtur8 in tha yearamourbted tc £196.614 (2023.. È4Q7,9221. Thi5 was maiftly ar"8, fees their travel gynses. Th? indir8Ct costs of adrninislratn were £14,64812023.. £46.3801, being the fees, commissions and expen888 of thè GÈn8ral Man29er. Other administrauve exp8nse5 w•re borne by th8 Stiftelsen Olmodernt. The fee for independentexamination of th8 aceounts and thelr preparation wa8 £1,440. At 31 Mar(* 2024 the bank balan s¢¢od at £48.983131 Marth 2023 £10.3341. Al fund8 are held in sttrfing and euro accounts with Wise. POLlaES There have be8n no changeE lo the polieiès adopted by the Truslees in 2018119 rollgting to risk managem?nL conflicts of inler&st. cotnplaints and data privacy. TheTrustees review intemal fina[la1 contro15 at kastannually. Th8yw8re last revEwed ITh May2D23 In the ujntext of an update to th@ debit cArd pOIy, first adopted in Decèmber 2020. The Honorary Treasurer prepaS monthly stalemenls gf rgceipts and payments. All exn$6$ are supported by invoic8s, h81d in 8l•ctronicform. The majority of the larger payments out of tha account are Pa by th• Hon Treasurer by bank transfpr against invoices which have been approved f paymgnt by Hugo T1a. Travel and outof pocketexpense5 are mostly SOttd by the use of debrt cards. STAFF Ticciati. Thrector of the CIO. is not an ernploY and receives no remun8rati¢n Irem the CIO. The CIO has no employeès. Admini8trntive assistance provklad by a 5etr-ernplDyEd Production CoordinatorlProiect M8n8ger. pa for by the Strftelsen.
OIMODERNT FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR ThE YEAR ENDED 31 MARCH 2024 RESERVES At 31 MaKh 2024, lh• Charity had total reserves of £45,842 12023 15,5751. All thg CIO'S bjnds arè unre6trist8d and are qUirett to pay Ihe foes and expenses incurred in the presentation of p8rforTnanc8s of music and educational programrne5 relating to musio No atteration has b8•n madeto the Trustees, r888rve5 policy whth was Last updated on 7 Marc 2023. INDEPENDENT EXMIINATION The Trustees aré rosponsibte for the preparation olthe accounts. which are not required io b8 auditèd. Accordingly. they have begn subjéd of a report by an indondent examiner. whos8 report Is set out on the following pa9e of this d¢)oJmènt. TRUSTEES, RESPONSIBILITIES IN RELATION TO THE ACCOUNTS The trustees are responsible for preparing the Trustees, Report and thè accounts in a¢Lordan with applicable law and United Kingdom A¢¢ountirs Standards (Unitsd lfjngdom Generally AccAp18d AccountirwJ Piaeticel. Th8 law requires thè Iruslees to prepare a¢¢ounts loreath linan¢ial yearwhith give a true and fairview of the stat8 of 8fF8irs or th? charity and of incx)ming resour5 and appk"¢ation of re8our¢g5. including the income and eXnditr4, of the d)arity for that year. In pieparing aLtounls, the trusleg5 arg rwuirthl to.. 6elect suitable accounting policies and th£n apply th8m Ctnsislenuy., observ8 th• m•thods and principbs in th8 Charities SORP,. make Judgements and estimates that a aSOnabl¥ and prudent.. and prepare the aceounts on the going COnM basis unl8ss f( is inappr¢¥riate to presum? thai the tharity will continu• In operats"on. Thg trust88s ar8 responsible for keeping adequate afLounling rocords that disclose with r68sonabk a¢rwra¢y al any tirw th8 financial position ol the Charity and enabl8 them to 2nsuTe that thè acmunts comply with th• Charrt$ Act 2011. They are also rsspon$ible for safeguarding the assets of thè charity and hence for taking rea$on8Ne eteps for tho prewntn and d8t8cbon of fraud and other irregularities. Approvgd by thè Trus&$ and skJn&l on their khalf by Jon CaNdl Chair
OIMODERNT FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OIMODERNT FOUNDATION I report to the trustee$ on my exarnirbathjn of th• attounts of OJMod8rnt FoUTrdatn for the yoar ended 31 Mar¢h 2024. Rosponsibllbtleo and basis of r•port As the trustEas of the tharity you are re8pon¥ibla for thE preparation of thè acxxwnts in accordance the requirements of U)e Charities Act 2011 I'lhè ACV). I report in resp8Ct of my examinalion of the account5 carriÈd out under 8ection 145 01 th0 2011 Actand in carrwng out my examination I have follow8d all IhE applN3ble Dir&ction8 given by thè Charity Commission under seclion 14515llbl of Ihe Act. Indèpèndènt •xann•T,S ststement I have c1)Mpt&d myexaminstion. I cDnfimi that no material matte[5 have (Me to my attent in connedlon wlth the examinabon giving me causè ta believè that in any material respe(a." 111 a¢UntirWj records were not kept in respect of the charity as required by soc*on 130 of the kn( or 121 the accounts dts not accord wTrth thoso recnfds,, OT 13} the ac(¥Junts do not comply wf(h the applicable requir8rnsnts concernin9 thg form and calltent of a¢¢ounts 8et oul in the Charits"es (Accounts and Report51 Regulatn$ 2008 other than any reqUirent that Ihe accounts give a 'lrue and fair viow which is not a matte¥ nSidered as part of an independentexamination. I have no cDnm5 and have fA)me a¢ros$ no other matters In connection wth th8 8xaminat.on to which 9118ntion shoukl be drawn in this report in order to ernable a proper understandÈng of the accounts lo be r&a¢hed. Mr Mark Cut718 FCCA FCIE, for and on bohalf o The Courtyard Shorehom R08d Upper 8eeding Steyning We51 Su55ex Group BN44 3TN Dated..
OIMODERNT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AIARCH 2024 Total 2024 Total 2023 Notes Incom? from: Ck)natlons and grants Charilable acl"vith"es 161.194 85,887 186.843 154,549 Total in¢omg 226,881 341,392 ExP•ndUI1 on.. charrtab activit*s 196,614 407.922 Totsl exp?nditurg 196.614 407,922 Net Incomolloxpondltural and net rnovernent In funds 30,267 166,5301 Re¢on¢iliation of funds TDtal lund5 brought forward al 1 April 2023 1$75 82.105 Total funds caTrled forward al 31 March 2024 45.842 15,575 Thèrè a no reuJgni8ed gains cr lossès Other than thosg report8d on the Statement of FinarIal Activit$. All activities are classe(J as a)ntsnuing. All irthm• and expenditure in 2024 and 2023 was unrestricted.
OIMODERNT FOUNDATION BALANCE SHEET AS A T 31 MARCH 2024 2024 2023 Not•s Currentass•ts Lknblors Cash at bank and in hand 299 46,983 e,681 10.334 47.Z82 17.015 CTrditOfs- amounts faning duo wtthin onè year {1.4401 11.4401 Not ¢urr8rrt assets 44842 15,575 Total Assets 1885 eurr•nt liabilltl&s 45,842 15,57S Net assgts 45,842 15,575 Thè fub)ds olthe charity Unrestricted funds 45,842 15,575 45.842 15.575 The aUnt$Were approved by th• Board on ......... J Carv811 Tru8ts8 (Chairl Charity Number. 1177274
OIMODERNT FOUNDATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢le8 Ba$0 of pr•paratlon The accounts have been prepared in accordan with A¢Unting and Reporting by ¢haritie5'. Statement of RKornmended PracticÉ applicable to charit4e8 preparing their accounts in ?Ordn vitth Ihe Finanual REporting Stsndard 8pplicate in the UK and Republic of Irèland IFRS 1021 l•fttithe 1 January 20191 (Chatities SORP IFRS 1D211 and the Charits"es Ad 2011. OModèrni Foundation meets the defill1tn of a public benefft entity undei FRS 102. Assets and liabilities are iniknally mcognised al historicalcostortransaction Val unless Othemise staled in the revant a¢untIng policy notel$l. Thgr8 ar8 no rnaterial uftcertaints aboutolmedemt Foundation's abilty lo conts"nueas ¢gng Conm. The functional ¢urr8ncy of the charty is pounds $tgrfing. Items aTè round8d to th8 neaf•St pound. Cash Flow Statsrnent In aixordance with Section 7 of FRS 102 the charity i8 rjaiming ex8mpbon from the requirement to prepare cash Ilcw statement on a¢t of Ils slze. Ineon Donations and olher forms ol voluntary income 8re recogThi$ed when tho ¢h8rily has enbtth8nt b th? ifittffie, the Inrne 15 m8asurable and it is probabk that the ¢harity will recei lh• Income. InCrne from Charitab activities consists of fees r8C8N8d for performance activity. In¢(xne is reoJgnis•d upon delN•ry ol the activity to whith the incornB telales, 1A ExpeDdituro Expenditure accounted for on an afxruals ba$is with irrecovwable e18rnent of VAT indud8d wlth the item of expense tD whith it r&lates. Charitsblè expenditure comprises thoee costs incurred by tho charity in the d84very ol rt$ a¢tiviiies and seNitss for its beneficiaTES. Governance costs lincluded within Support tostsl includ8 those wsts assoaated m881ing the wnstitutional and 5ts1utory raquirements of the charity.
OIMODERNT FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Aeeountlng Polic188 Icontlnu¢dl Fund aciounting Funds h&ld by th8 charlty are either. Al cf th• charity'$ funds are unrestricted funds. These are funds which can be used in accordan wth the charitabk obi8Ct5 at the dts(xthn of the In1895 and hICh have net been despJnatBd lor oth?r purposes. Taxitlon As a charty, OIML¥J•mt 1$ gxemptfiom tsx on tharitabte incom8 arbd gains io the èxtent that these ar• applied to its chaiilabk )1¢. Debtors Trade and other debtors are r8ugnised atthe s8tUemont amount du¢ after any trade diso)unt oftered. PrepaymeTrls are valued at th8 amount prepaid net of any trade discounts d. Cash at bank and in hand Cash at bank and in hand Sndudes cash and short term highly liquid inv•stments. The Trustees se•k 10 U$8 $hortterm d•pots where possible to maxirni$8 ihe tUrn on monias he atthe bank and to manage cash fiDW. credr8 and provl8ions Crgditors and piowsions are Tecognised where tha d)arity has a present obfigation resulting from a pa8t event thal wll probably result in the transler of fund5 to a third party and the amount due to selde the obligation can be mèasured orestllnaled raliatsty. Forgign eXchage Thé charity's presentatsonal Nrren¢y is Poynds Sterlkng. Transactions o¢¢urring in for8KJn currerKy Ihroughoul the year have been translated using publicly available average exc)ang8 rates. mOtsry assets and liabilities denominatsd in toreign curr8ncws are translated into Slerfing at the rates ol exthange ruling at balan ¥hg8t date. All foreign wrrency differences are recniSed expenditu on raisirKa fvnds. Estimat•8 and ludgem&nts In the application of thè ehariV$ accounting PDli¢es, tha trustees are requirod to make judgements, estimates and assumpbon5 about thg carrying amounl of assets and liqbilih'e5 that are not readily apparent from Olher SOU$. Thts ts$timate$ and a550oat8d assumptions are based on hi8toThcal experience and other fa¢¢ors that are ¢ansidered to be rebvant. Arlual tvsults may difFer frotn these estimates The*stimat¢sand undeilying assumptions are reviewed on an ong¢4ng basis. RevisK)ns to a¢o)unling E5timate8 are rwnis¢d the period in which the estimate wsed. The trustees dD not consider that thor• are any critical estimatss or areas of judg8m8Tht that need to brought to the attenbon of the r8adars ol the financial statémenis.
OIMODERNT FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trust00 r0munertoM All the tru5t8es donat8 their tim8 spent wnning the th8rity on a luThry basis and do not receive any remunerdtion for Ih?ii work a5 trusiee512023.. None). 2024 2023 nab.on income F8& inc4me 161.194 65,6B7 186,843 154,549 Total 226.881 341,392 E¥pendltur• 2024 2023 Charltablo a¢tivilJè$ Charitable Projec Support costs 195.174 ,482 1.440 Total 196,614 407.922 Support ¢ost* 2024 2023 G0man¢ costs lindepend8nt examinatk)nl 1.440 1,440 1.440 1,44Q Employees The charily had no employegs during the year12023'. none), Trustse$ [ng the year no trustse8 We reimbursed any expenditure 12023.. nong) There ar8 no r818ted p8ty transacthons to disdose otherthan trusteo donation5 Idetai15 olwhich are disc105ed in the Tru5tees' RepDrtI.
OIMODERNT FOUNDATION NOTES TO THE ACCOUNTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Oebiorn 2024 2023 Tr•le debtors 299 6,681 299 6,681 ¢r•dltOfs- arrb)unts talllng Ilue within one year 2024 2023 Accruals 1,440 1,440 10 Gontrol The tharity is under th¢ control af thè TrustaO5. 11 Gharfty Infomlatlon OMAod8mt FouTrlalion ts a Charitable Incorporated (kganisation regi8tered in England a wa5. Thè charity's Tegisl8red number and regi5teted office ld$ bg found on the kgal and administrative information pago. io
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