## **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
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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 Endo*me 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