Charity registration number 1177274 (England and Wales)
OIMODERNT FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026

OIMODERNT FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Jonathan Carvell - Chaimian
Ms Emma Bonnici
Canon Professor Jonathan Ben Quash
Mr Oliver Ticciati - Honorary Treasurer
Charity registration
England and Wales
1177274
Principal address
8 Nassau Road
Barnes
London
United Kingdom
SW13 9QE
Independent examiner
Reddy Siddiqui LLP
183-189 The Vale
Acton
London
United Kingdom
W3 7RW

OIMODERNT FOUNDATION
CONTENTS
Page
rustees, report
Independent examinerfs report
Statement of financial activitie
Balance sheet
Notes lo the financial statements
7- 11

OIMODERNT FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2026
te
nt
nual re
rtand
ancial statements for the year ended 31 March 2026.
an
ments have been prepared
accordance with the accounting po
Icies set out in note 1 to th
ial statements and comply wit
the CIO'S govemlng document, the Charities Act 2011, FRS 102 "The
nc l Reportin Standard applicable in the UK and Republic of Ireland. and the Charlties SORP "Accounting
eporting by Charities: Statement of Reco
ended Practice applicable to charities preparing their accounts
ordance with the Financial Reporting Standard ap
able in the UK and Republic of Ireland (FRS 10
Objectives and activities
cts of the CIO are for the public benefit to promote
e education of the public on the subject of music by
he organisation of public concerts and
e presentalio
f performances of music,
cluding, but not limited to,
ncerts
aster clas
usic cam
semina
workshops and commissioning of new works of musi
lic
Trust
eri
ave paid
undertake
egard to gu
ance is
he
harity Commissi
in deciding what activities the
Achievements and performance
Ignificant activities and achievements against objectiv
May
25 Hugo Ticciati directed L'orchestra del Teatro Massimo Bellini di Catania in Sicily in a programme of
ass, Vasks and Bac
In June 202 O1Modemt staged the Summer Festival at the Queen
July 2025 the O/Modemt Chamber Orchestra directed from the violin by Hugo Ticciati ("OMCO") played at, and
Icciati directed, a course entitled Music and Wellness at Medevi Brunn, Ostergotland. Sweden, and gave a
ossing the Atlantic at the Audi Mobile Museum, Ingolstadt, Germany.
August 2025 the Olmodemt New Generation Symphony Orchestra directed by Hugo Ticciati were joined by the
la
etti
Reto Bien in concerts at Kungasalen, Royal College Of Music, Stockholm, Sweden and the Berl
Konzerthaus, Germany (Young Euro Classic 2025). OMCO played at Schloss Augustusburg, Bruhl and Schloss
rve
oth in Germany.
'Ivia Concert Ha
eptember
25 OMCO was joined by Evelyn Glennie at the George Enescu Festival in Bucharest and at the
Bridgewater Hall in Manchester, the Olmodernt New Generation Ensembles with the pianist Jean-Efflam Bavouzet
ave t
e conce
the Queen Silvia Concert Hall in Sweden; and OMCO were joined by Luciana Mancini
zzo
prano Reto Bieri clarinet Priya Mitchell violin Sascha Bota viola and Nora Thiele percussions
rch Cathedral as part of the Oxford Chamber Music Festival
ctober 2025 OMCO were joined by Mark Padmore tenor Janne Thomsen flute Marianna Shinnyan piano Pete
irstein
Anglais Lars Colding Wolf organ Benjamin Maack Davis chime and Danish National Youth Ensemble a
the Holstebro Festival in Denmark; and by Anders Paulsson soprano saxophone and Sam Wilson percussi
at
Wig
Hall
In November 2025 OMCO gave two concerts at the SLOW festiva
at the Konzerthaus, Dortmund, and O/Modernt
New Generation were joined by Mark Padmore tenor and Andrew West piano at the Queen Silvia Concert Hall.
anuary 2026 Hugo Ticciati and the Camerata Strumentale di Prato gave the world premiere of An Archive
ree Parts and the Italian premiere of Violin Concerto 'Shrink' both by Nico Muhly and both co-commissioned by
10; O/Modernt soloists were joined by Conrad Tao piano at the Queen Silvia Hall; and OMCO we
joined b
ornelia Beskow soprano and Leo Florin accordion for '
iennese Waltz, Slavic Melancholy and Hungarian Flai
at
Wigmore Hall.

OIMODERNT FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
ry 2026 OMCO and O/Modernt New Generation with VOCES8 chamber choir Sophie Klussmann soprano
Katie B
y mezzo-soprano Gwilym Bowen tenor Frederick Long bass Baba Israel beat poet Svante Henryson bass
Bntta Virves piano and Johan Lofcrantz drums gave the Queen Silvia Concert Hall Winter Festival which
ded two performances of Handel's Messiah with commentary by Baba Israel
Marc
026 Hugo Ticciati played the violin and directed Archi del Conservatorio V. Bellini di Catania in Sicily.
MCO gave five performances at the Heidelberg Fruhling Musikfestival and one at Bahnhof Fischbach,
edrichshafen, Gennany.
Financlal revlew
ome received In the year amounted to £195,753 (2025: £110,639
Donations totalled £259,868 (2025: £88,924), £259,200 of which was received from Stiftelsen Olmodernt, which
the CIO'S counterpart not-for-profit corporate entity in Sweden. In April 2021 it was agreed that the Stiftelsen might
tr
fer funds to the CIO and that the CIO might discharge expenses properly incurred by the Stiftelsen at the
Stiftels
request.
There were no other donatfons exceedlng £500 (2025: £3,773). There was no campaign to raise voluntary fun
Total e
enditure in the year amounted to £422,300 (2025: £216,337). This was mainly artists, fees and their trave
expenses.
The fee fo
dependent examination of the accounts and their preparation was £1,860 (inclusive of VAT
At
ac
March 2026 the bank balance stood at £43,517 (2025: £10,319). All funds are held in sterling and eu
nts with Wise.
Policies
There
av been no changes to the policies adopted by the Trustees in 201
co
Icts of interest, complaints and data privacy.
19 relating to risk manageme
The Trustees review intemal financial controls at least annually. They were last reviewed in July 2025 in the context
of an update to the debit card policy, first adopted in December 2020. The Honorary Treasurer prepares monthly
statements of ceipts and payments, which the Chairman inspects from time to time. All expenses are supported
y invoices, held in electronic form. The majority of the larger payments out of the account are paid by the H
Tre
er by bank transfer against invoices which have been approved for payment by Hugo Ticciati, Aleksand
Markovic Trujic or Viktor varosi. Travel and out of pocket expenses are mostly settled by the use of debit cards.
Reserves p
I the CIO'S funds are unrestricted and are required to pay the fees and expenses Incurred in the present
performances of music and educational programmes relating to music.
At 31 March 2026. the level of reserves was £62.197 (2025: £28,392). No alteration has been made to the Trustees
reserves policy which was last updated on 7 March 2023.
Structure, governance and management
The Charity is a Charitable Incorporated Organisation (CIO) formed on 21 February 2018 an
Is gover
nstitution. Its registered office is 8 Nassau Road, London SW13 9QE. The registered charity number is
by its
7274.

OIMODERNT FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Th
tees who erved during the year and up to the date of signature of the financial statements were:
nathan Carvell - Chairman
Ms
mma Bonnic
anon Profe
or Jonathan Ben Quas
Mr Oliver T
iati - Honorary Treasurer
Organisation structure
Hugo Ti iati is the Chief Executive of the CIO. He is not a
mployee and receives no re uneration from the CIO
apart from fees for performing for the CIO. Administrative assistance is provided by a self-employed manager, Viktor
ar
n employed production coordinator, Aleksandra Mark
who took over the role in Septe
er
25
nd by self-employed digitsl marketer, Ashl gh
ren
There has been no
nge in the trustees this year.
der the terms of the
stitution, the Trustees have the power to appo.
n the skills and experience required to further the Charity's
ject
al
stees to the Board ba
14Ju
eddy Sid
Iqul LLP were a
pointed as independent examin
sinpla
ofTC
s, repo
was approved b the Board of Trustees.
Mr Jonath
Trustee
airma
uly

OIMODERNT FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OIMODERNT FOUNDATION
I report to the Trustees on my examination of the financial statements of Olmodernt Foundation (the CIO) for the
year ended 31 March 2026.
Responsibilitles and basls of report
As the Trustees of the CIO you are responsible for the preparation of the financlal statements in accordance with
the requirements of the Charities Act 2011.
I report in respect of my examination of the CIO'S financial statements carried out under section 145 of the Charits'es
Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b) of the Chanties Act 2011.
Independent examlner's statement
Since the CIO'S gross income exceeded £250,000, the independent examiner must be a member of a body listed in
section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examination because l am a
member of ICAEW, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the
relevant version of the Statement of Recommended Practice applicable to charities preparing their financial
statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1
April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has
been done in order for the financial stalements to provide a true and fair view in accordance with UK Generally
Accepted Accounting Practice.
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that In any material respect:
accounting records were not kept in respect of the CIO as required by section 130 of the Charities Act 2011.
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of
financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the financial statements give a true and fair view, which is not a matter considered as part of
an independent examination.
I have no concems and have come across no other matters in connection with the examlnation to which attention
should be drawn in Ihis report in order lo enable a proper understanding of the financial statements to be reached.
* AJJA2"
Reddy Siddiqui LLP
183-189 The Vale
Acton
London
W3 7RW
United Kingdom
6 July 2026

OIMODERNT FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2026
Unrestricted
funds
2026
Unrestricted
funds
2025
Notes
Income from:
Donations and legacles
Charitable activities
259,868
195,753
88,248
110,639
Total Income
455,621
198,887
Expendlture on:
Charitable activities
422,840
216,337
Total expenditure
422,840
216,337
Net incomel(expenditure)
32,781
(17,450)
Other recognised gains and losses:
Other gains
10
484
Net movement In funds
33,265
(17,450)
Reconciliation of funds:
Fund balances at 1 April 2025
28,392
45,842
Fund balances at 31 March 2026
61,657
28.392
The statement of financlal activlties includes all gains and losses recognised In the year. All income and expenditure
derive from continuing activities.

OIMODERNT FOUNDATION
BALANCE SHEET
ASAT31 MARCH 2026
2026
2025
Notes
Current assets
Debtors
Cash at bank and in hand
11
20,000
43,517
19.873
10,319
63,517
30,192
Creditors: amounts falllng due wlthln
one year
12
(1,860)
(1,800)
Net current assets
61,657
28,392
The funds of the CIO
Unrestricted funds
13
61,657
28,392
61,657
28,392
The flnanclal statements were approved by the Trustees on 6 July 2026
Mr Jonathan Carvell- Chairman
Trustee

OIMODERNT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Accounting pollcies
Charity informatlon
The Charity is a Charitable Incorporated Organisation (CIO) was formed on 21 February 2018 and is
governed by Its Constitution. Its registered office is 8 Nassau Road, London SW13 9QE. The registered
charity number is 1177274.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the CIO'S goveming document, the Charities
Act 2011, FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland" and the
Chanties SORP "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)". The CIO is 8 Public Benefit Entity as defined by FRS 102.
The CIO has taken advantage of the provisions In the SORP for charities not to prepare a statement of cash
flows.
The financial statements have departed from the Charlties (Accounts and Reports) Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO
has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at th8 discretion of the Trustees in furtherance of their charitable
objectives.
Restricted 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 set out in the notes to the flnancial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the CIO.
1.4 Income
Income is recognised when the CIO is legally entiued to it 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 recognised on receipt. Other donations are recognised once the CIO has been notified of
the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation
to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on recelpt or otherwise If the CIO has been notified of an Impending dlstribution, the
amount is known, and re￿Ipt is expected. If the amount is not known, the legacy Is treated as a contingent
asset.

OIMODERNT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Accounting policles
(Continued)
1.5 Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in setuement, and the amount of
the obligallon can be measured reliably.
Expenditure is dassified by activity. The costs of each activity are made up of the total of direct costs and
shared costs, Including support costs involved in undertaking each activity. Direct costs attrlbutable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with origlnal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.7 Flnanclal instruments
The CIO has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther
Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the CIO'S balance sheet when the CIO becomes party to the
contractual provisions of the instrument.
Financlal assets and liabilities are offset, with the net amounts presented in the financial statements, when
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 th8 asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets. which include debtors 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. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are inltially recognised at transaction 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 interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts 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 creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the CIO'S contractual obligations explre or are discharged or
cancelled.

OIMODERNT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Accountlng pollcles
(Continued)
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the perlod In which the employee's services are
received.
Terminats'on benefits are recognised immediately as an expense when the CIO is demonstrably committed to
teminate the employment of an employee or to provide termination benefits.
Critical accounting estimates and Judgements
In the application of the CIO'S accounting policies. the Trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilitles that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions ar8 reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revlsed where the revlsion affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donatlons and legacles
Unrestricted
funds
2026
Unrestricted
funds
2025
Donations and gifts
259,868
88,248
Income from charltable actlvities
Unrestricted
funds
2026
Unrestricted
funds
2025
Income from charitable activities
Fee income
195,753
110,639

OIMODERNT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Expenditure on charltable activities
Concerts and Concerts and
muslcal
muslcal
performances performances
2026
2025
Direct costs
Direct performance and production costs
420,980
214,537
Share of support and governance costs (see note 6)
Governance
1,860
1,800
422,840
216,337
Analysls by fund
Unrestricted funds
422,840
216,337
Support COSt3 allocated to activities
2026
2025
Govemance costs (Independent exmination)
1,860
1,800
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the
CIO durlng the year.
Employees
2026
Number
2025
Number
Production and Project Coordination
There were no employees whose annual remuneration was more than £60,000.
Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10-

OIMODERNT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
10 Other gains and losses
Unrestrlcted Unrestricted
funds
funds
2026
2025
Gains/(losses) upon:
Foreign exchange
(484)
11 Debtors
2026
2025
Amounts falling due within one year:
Trade debtors
20,000
19,873
12 Creditors: amounts falllng due wlthln one year
2026
2025
Accruals and deferred income
1,860
1,800
13 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to speclfic conditlons by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2025
Incoming
resources
Resources
expended
Gains and At 31 March
losses
2026
General funds
28,392
455,621
(422,840)
484
61,657
Prevlous year:
At 1 Aprll
2024
Incomlng
resources
Resources
expended
Gains and At 31 March
losses
2025
General funds
45,842
198,887
(216,337)
28,392
14 Related party transactions
Mr Hugo Ticciati is a son of a trustee. During the year, he received fees for performances with the O/Modemt
Chamber Orchestra, where he acts as leader. These fees were paid on an arm's length basis and are
consistent with those paid to other section leaders.
Mr Oliver ficciati, who is a trustee, was reimbursed expenses of E860 during the year. (2025: nil)
11