2023-03-31-accounts

Trustees’ Annual Report for the period

From April 2022 to March 2023

Charity name: FIDELIO CIO

Charity registration number: 1190665

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	(1) To advance the education and appreciation of classical music in a broad audience, particularly young people, including through the presentation of musical events and orchestral, operatic and chamber music concerts in London and throughout the UK (2) To provide opportunities to young musicians to develop their professional skills through performance in high-level chamber and orchestral ensembles.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The Fidelio Orchestra gave full-scale concerts on 30 July 2022, 29 October 2022 and 11 February 2023. These were well attended and gave professional level playing opportunities to 80 young music students.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The trustees have had full regard to the guidance on public benefit

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference N/A Para 1.38 Policy on grant making N/A Para 1.38 Policy on social investment including program related investment

Para 1.38 Contribution made by volunteers Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Concerts were planned in accordance with the Chairity’s purpose of making music accessible to young/new audiences and giving young performers and opportunity to gain experience at a high level of performance. Over the course of the year, the Orchestra attracted an audience of approximately 800 and provided professional-level playing opportunities to 80 players

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	The trustees were particularly pleased by the level of musical attainment by this young group, by their commitment to the highest standards of performance and expression, and with the enthusiastic public response measured in audience feedback
Performance of fundraising activities against objectives set	Para 1.41	The trustees were pleased that the Orchestra was able to attract sufficient donations internally and externally to cover its costs over the year, but recognizes that more systematic long- term development plans need to be put in place. These are in the 23/24 plan.
Investment performance against objectives	Para 1.41	N/A

Other

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The Charity is solvent and has no outstanding debts
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The trustees have no policy with regard to reserves
Amount of reserves held	Para 1.22	The charity had a nominal surplus at the year end.
Reasons for holding zero reserves	Para 1.22	The Charity has no long-term debts or liabilities which require formal reserves to be held
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	The trustees expect the Charity to continue as a going concern during the next financial year

Additional information (optional) You may choose to include further statements	Additional information (optional) You may choose to include further statements	where relevant about:
The charity’s principal sources of funds (including any fundraising)	Para 1.47	Ticket sales, Individual donations by audience members and private individuals
Investment policy and objectives including any social investment policy adopted	Para 1.46	N/A
A description of the principal risks facing the charity	Para 1.46	Inability to plan sufficiently long term because of shortage of funds. A fundraising plan is under construction to remedy this. Audiences need to be boosted to a level commensurate with the level of performance by better use of the unique brand and marketing.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	CIO
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	New Trustees, up to a maximum of 12, may be elected by a majority decision of the existing trustees. Two new trustees were elected to the Board in the FY, with a further one being added in FY 2024

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Fidelio CIO
Other name the charity uses	1190665
Registered charity number
Charity’s principal address	97 Clerkenwell Road, London, EC1R, 5BX

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (if any)
	Stephen John Gomersall	Chairman, Trustee	Whole year	Board of Trustees
	Stuart George Baran	Trustee	Whole year	Board of Trustees
	RoySimpson	Trustee	Wholeyear	Board of Trustees
	Raffaello Morales	Trustee	Wholeyear	Board of Trustees
	Jing-Wei Yu	Trustee	From December 2022	Board of Trustees
	Jonathan Levy	Trustee	From December 2022	Board of Trustees

– Corporate trustees names of the directors at the date the report was approved

Director name None

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for wholeyear
None

Funds held as custodian trustees on behalf of others

Description of the assets None held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Stephen John Gomersall Position (eg Secretary, Chair Chair, etc) Date 30 November 2023

CHARITY COMMISSIO FOR ENGLAND WAIE Receipts and payments accounts CC16a T• 01O4Q072 31ffjW2023 Sectioii A Receipts 3Tid payments Unrp•trkt•d R4stri¢tedlunds Endowrneni Total tunds Lastytar 1721 117T2 i). tol•l(t)DSS trARJ Subtotsi 34M•J 4•J 39.292 sis sis X1S2 Subtrtai 35.7M p￿rd￿￿. tablTrl Tofalp•yrnorts 32M94 39.714 492 ASTAThsferB l.y9 492 I￿•1￿024

Seciion B statement olassots and Ilabllltl8s at the end olthe perlod Vnrnslrfd•d R•iirfd•d lunds Endome 7.•71 f¥Dd• Dti.ls orf Oel4

CHARITY COMMISSION FOR FNGI ,IND .INID IV,11 I S Independent examinerfs report on the accounts Section A Independenl Exarniner's Report R•port to the trustees cio On accounts for the yèar ended 13 21 Charity no {rf any) 111045 Set out on pages I reP￿t to the trustees on my examination of the of the above charity fft Tntsf) f(Y JEar eThled Responsibilltles arKI basls of report As the (tharilys Intstees. you are responsible for the preparation of the accounts in acc(xdance wilh the requirements of the Charities Ad 2011 <￿ Acr). I report in respect of my examinati(Yb of the Trust's ac(x)unts Ca￿led under section 145 of the 2011 Act and in carying out my examination. I have frAlowed all the applicable Directions given by the Charity Commission under section 14515Mb} of the ACL Independent examlnees statement I have {￿npleted my examinati￿. I confinn that no material matters have come to my attentiC￿ in connection with the examination (other than that disdosed belch¥ ') vthich gives me cause to believe tr￿t in. any material the ac￿￿nting records wer8 Th)t kept in accIxdan￿ with section 130 of the Charities Act: or the accx)unts did not aco)rd with the accountin9 records: or the accounts did not cnmply with the applicable requirements c or body ICA£ IER Oct 2018

(Sf any).. RA￿TILr4 6eiO Dr Section B Disclosure Only com￿ete rf the exami￿ r needs to highlight material matters of concem (see CC32, ITrJepe￿SenI examInalK￿ of charity accounts: d￿Cl￿ and guidance for examiners). Give here brief details of any ilems that the examiner wishes to disclose. IER Oct 2018

FIDELIO ao INCOME STATEME1￿ 12 mr•th to31 MJrth1023 31n1312023 CONCERT INC Ticket Sale5 Svb5CTiPticffls Drink TOT￿ C&y￿RT WICOI 124 2721 4203 364 3789 CON￿AT COSTS Professional fee5 Tiiketirg comrnission Video Costs MarkÈting F(xxl and wine PhCt￿l3PhY Staff costs St Andrews Soloist Piano hire Conductor Fixing fees PTorams Equtpment Iwre TOT￿ C(YICÉRT COSTS -17810 -25515 -2CKt -3152 -1403 -71MI -1146 -6033 -15C -1210 43 -210 -2154 .32694 G￿N/l05$ .W95 -19330 MSC EXPENSES Bankn"ng fee5 Making music Misc TOTAL MSC .240 .456 DONATION GIFT AID TOTAL DfM4ATIIY4 INCI 13822 4281 19772 1267 CASH SURPWS 1509 J/4R2 6411