## **Trustees’ Annual Report for the period** **From April 2023 to March 2024** ## **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||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. One new Trustee**
**(Tara Behtash) was appointed in**
**November 2023**| ## **Additional information (optional)** You may choose to include further statements where relevant about: Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties 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 (ifany)**| |---|---|---|---|---| ||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|Wholeyear|Board of Trustees| ||Jonathan Levy|Trustee|Wholeyear|Board of Trustees| ||Tara Behtash|Trustee|From November 2023|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 whole year**|| |---|---|---| |**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)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| **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)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**||| |---|---|---| |||| ||Stephen John Gomersall|| ||
Chair|| ||20 July 2024|| ||20 July 2024|| |Fidelio CIO|||**No (if any)**|| |---|---|---|---|---| |**Receipts andpayments accounts**||||**CC16a**| |**For the period**
**from**|4/1/2023|**To**|3/31/2024|| |**Section A Receipts and payments**||||| |---|---|---|---|---| |**A1 Receipts**
Ticket Sales
**8,218**
Subscriptions
**210**
Drinks
**1,963**
Donations
**27,904**
Gift Aid
**3,596**
**-**
**-**
**-**
**41,891**
**-**
**-**
**_Sub total_ -**
**_Total receipts_ 41,891**
**A3 Payments**
Professional fees
**21,224**
TicketingCommission
**309**
Video costs
**1,800**
Food and wine
**270**
Filming
**200**
Conductor/Soloist
**3,900**
Marketing
**190**
Orchestral Manager
Consulting
**626**
Venue Hire
**6,900**
Misc
**1,121**
**_Venue Hure_ 36,540**
**Misc**
**-**
**-**
**_Sub total_ -**
**_Total payments_ 36,540**
**_Net of receipts/(payments)_ 5,351**
**A5 Transfers between funds**
**-**
**A6 Cash funds last year end**
**7,920**
**_Cash funds this year end_ 13,271**
**Unrestricted**
**funds**
**to the nearest £**
**_Sub total_**_(Gross income for AR)_
**A2 Asset and investment sales,**
**(see table).**
**A4 Asset and investment**
**purchases, (see table)**|**to the nearest £**
**-**
**-**
**-**
**6,000**
**-**
**-**
**-**
**-**
**6,000**
**-**
**-**
**-**
**6,000**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**500**
**5,000**
**-**
**5,500**
**-**
**-**
**-**
**5,500**
**500**
**-**
**-**
**500**
**Restricted**
**funds**|**to the nearest £**
**Endowment**
**funds**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**| |||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**8,218**
**210**
**1,963**
**33,904**
**3,596**
**-**
**-**
**-**
**47,891**|**6,440**| |||||**2,721**| |||||**4,203**| |||||**19,772**| |||||**1,267**| |||||**-**| |||||**-**| |||||**-**| |||||**34,403**| |||||| |||**-**
**-**
**-**|**-**
**-**
**-**|| |||||**-**| |||||**-**| ||||**47,891**|| |||**-**||**34,403**| |||||| |||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**21,224**
**309**
**1,800**
**270**
**200**
**3,900**
**190**
**500**
**1,121**
**41,731**|**25,515**| |||||**-**| |||||**-**| |||||**1,403**| |||||**-**| |||||**480**| |||||**-**| |||||**4,396**| |||||| |||||| |||||**1,100**| |||||**32,894**| |||||| |||**-**
**-**
**-**|**-**
**-**
**-**|| |||||| |||||**-**| |||||| |||**-**|**41,731**|**32,894**| |||||| |||**-**
**-**
**-**
**-**|**5,851**
**-**
**7,920**
**13,771**|**1,509**| |||||**-**| |||||**6,411**| |||||**7,920**| ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
**B1 Cash funds**
**B2 Other monetary assets**
**B3 Investment assets**
**B5 Liabilities**
**B4 Assets retained for the**
**charity’s own use**
Signed by one or two trustees on
behalf of all the trustees|**Details**
Cash in Bank
**Details**
**Details**
**Details**
**Details**
Signature
**_Total cash funds_**
(agree balances with receipts and payments
account(s))|**to nearest £**
**to nearest £**
**13,271**
**500**
**-**
**-**
**-**
**-**
**13,271**
**500**
OK
OK
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
Print Name
**Unrestricted**
**funds**
**Restricted**
**funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**|**to nearest £**
**Endowment**
**funds**| |---|---|---|---| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**to nearest £**
**Endowment**
**funds**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of
approval| ||||| ||||| CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Exarnin*s Report Rèport to tho trustees FIQPLIO CIO On a¢courts lor the year ended 31}0312aZ4 Charfty no {If any) 11goE65 Set out on pages Ishe I report to trustees ￿ my examination of the accounts ￿ the above charrty ltthe Trusf) for the year ended 31103 j 2 014 As the ch￿rtY8 trustees, you are responsible fcy the Frepaation of the acujunts in arxcffdance wtth the requirements of the CharIt￿S Act 2011 (Ihe A(Y). Responsibllltles and basls of report I reFQrt in respect tX my examination of the Trusfs accounts CWTied out under sedion 145 of the 2011 Ad and in catryng out my examination, I have frJloKed all the applicable Directions gr¥en by the Charity Commissic under Secti￿ 145{5)(b) of the Ad. Independent examinerfs statemen -appl￿￿. Delete l ] rfnot aWicable. I have completed my examinatffi. I confinn that no material matters have come to my attention in connec#ion with the examinatTron {other than that disck)sed belu4Y") gives cause to believe that in, any material resFect.' Ihe ac￿unt￿r￿￿ recor(Is we r#)t kept in a(x0rd￿￿ with section 130 of the Charrties Acl.. or the ac(x)unts dKI not accth with the re(xxds: or the aCc￿nts did not compty ￿th the applicable requtrements concemThig the fc¥m arKI ￿nIent of accounts set (XA in the Charities (Accounts and ReP￿￿s) Regulat'ons 2008 other Ihan any reqUir￿ent that the accounts give a Irue and fail view Trhthich is not a matter considered as wt (rf an Thlependent examinati￿1. I have no cOn￿mS and have come across no other matters in connection vthh the examination to ￿1c￿ attentIC￿ shouhy be dr8byn in this report in order to enable a woper understsnding of the ac£ounts to be reached. . Ptsase delete the in the brdckets rfthey do not ap￿y. Slgned: 3017124 Name: Relevant professional quallflcation(s) or body ILAg IER Oct 2018 (If any)." Address: PALfi ILI- ILfrlD. Section 8 Disclosure Only complete rf the examiner needs lo highlight material matters of concern (see CC32, ITrJep￿dent examrth of accx)unts". dre(l￿nS aid guidance for examiners). Give here brief detalls of any Items that the examlner wlshes to disclose. IER Oct 2018