CHARITY COMMISSION FOR ENGLAND AND WALES Trustees. Annual Report for the porf¢xl From Aprfl 2024 to March 2025 Charlty name: FIDEUO CIO Charlty rnglstratlon number: 1190666 Objectives and Activlti88 Summary of the purposes of the charty as set out in its goveming dcruTh￿nI P¥a117 11) To advance the educallon and appreclatlon of cla88lcal rn￿1¢ In a broad audlence. partkulaty young people. Includlng through the pre8èntatlon of MUSI￿1 •vents and orchestral. operatk and chamber muslc c4Jncerts In London and throughout the UK 12> To provlde opportunltlè8 to young muslclan$ to dgvelop thelr professlonal skllls through perfornunce In hlgh4•vo1 ¢harn￿r and orchestral ensembles. The Fldg11o 0￿hOstra gave fu114cale concert8 on 9 March 2024, 15 June 2024 and 28 Septombgr 2024 Theso wer• well attonded and g•ve prolesslonal level playlng opp)rtunllles to 90 young muslc students. A succe88fv1 lundralslng concertwa8 held In Septombor 2024 to 8llPPOrt tho 2025 ramm• The tru8tee8 have had full regard to thè guldanca on publ1¢ bonefft Summary ofthe main activibes in ￿lation to those purFrf)ses for publ benefi( in part￿ular. the actsvitjes, projects servi￿$ idenbf*d in the accounts. P•• 1.17¥ 1_19 Slatement ￿nfimI1ng whether the trustees have had regard to the guidan issued by the Charity Commission on pubiic benefft 1.18 Addltlonal Informatlon loptlonal) You ma choose to indude further ststements where relevant atr￿ut NIA P** 1.36 PolKy/ on grant making NIA 1.30 Policy on S￿al investrnent including program related InVestTh￿ P•# 1.3e Contrilxjtion maje by Achlevements and Perforniance Concerts were planned In a¢cordanGo Twllh the Chalrfty's purpose of maklng muslc accesslble to younglnow audlences and glvlng young ￿rforM￿r8 and opportunlty to galn exporience at hlgh level of perfomian¢•. Over the course of the year, the $lzo of audiences Increased and the or¢h¢stra was able to dovelop a stronger ¢ore ol rogular players. Thls contrlbuted to a Contlnuod rfse In p•rfomian¢o Standards and publlc rocognltlon of the orchestra. Summary ofthe main ievewts ofthe chanty. JenbfyirKJ the drfYeren￿ the cknarity's TAr#* has made to the orc¥Jn*ances of rts 1.xl Addltlon•l Informthn (optlonal) You ma choose lo indude hjrther slatements where relevant about. Tho trustees were partlcularly pleased by th01ovel of muslcal attainrnent by th18 young group, by thelr commllment to the hlghest standards of perfomianco and eXPr￿lOn, and wlth the enthu8la8tic publlc response mea$ur•d In audl•nce feedback Tho tTUStees were pleasod that the Ovchestra was able to attract 8ufflcl8nt donallons Internally and externally to cover Its costs ovor the yoar. Tho successful fundralslng concert of Soplembor 2024 enabled a full yea￿• plannlng for 2025, whlch brought boneflts In playor and audlenc• ¢ommltmenL Tho trustses recogn that thls need$ to ￿ regularly repgated, and rlvato donatlons securod to Achieverrents against objecbves set P¥• 1.41 Perf0Mpn￿ of fundraising activities against obJ"ectives P•• 1.41 gu•rnnts• tho orche8tra'8 long t•nn futuro. A fundralser18 planTh￿ for Se b•f 2025 NIA against obj'edives '_11 I Ips"rJ?Yvnl YnE E'lli JL,.:. L- '¥xl1 E* I l(%qfJ."iTr." i" #ILI -.1: .*'n'i g."L' IiTal1I) structure, Governance and Managemont Description of charity's trusts.. Type of g¢)veming docurnent trust deed r al charter How is the charity nststuted? (e.g unirwrated association CIO Tnjstee seleclion methc*Js induding details of any cx>nststutional provisions e.g. elerAion to t￿t or name of any person or body entitled to ap￿int one or more t•4 P•a 125 P•a 125 cio Pwa 1.25 N•w T￿￿te•s, up to a maxlmum of 12. may be elected ty a majorlty dKlslon al the exlsllng trustees. One TnMts• ITara Behtash) was appolnted In Addltlon•l Inforniatlon loptlonal) You ma choose to include further State￿nts where relevant about Policaes and procedures adopted for the indu(aion and training of trustees 151 The charit￿S organisalronal stru(knre and any wmler network viith which the P¥a 1.51 ReLationship with any related Pwa 1.51 R6f8rence and Admlnistrative details Cha name Other name the cha uses islered cha number Charity's principal address Fidelio CIO 1190665 97 Clerk•nweU Road, L(￿don. EC1R. 5BX Flnanclal Revlew Review of the charity's financial p)sition at the end of the nod ststement explaining the licy for holding rese statin are held Amount of reser￿ held P*a 1.21 The Charlty Is 8ofvent and has no oul8landlng deb18 P•a 1.22 The trustees have no polky wlth r¢g•rd P** 1.22 The chath had a nomlnal 8Ufplus at the ear end. The Charlty h•s no long4emi dfrbts or Il•bllétles whlch r•quSre fomial reserves to be held None Reasons for hohjing zero 1.22 Detsils of fund materialty in defitit Explanati￿ ofany uncertarnties about the charity ct)ntinuing as a going cOr￿M 1.24 P•• 1.23 The trustees eXP•¢t the Charfty to ¢ontlnue as a golng ¢oncom durfng th• nèxt financial year Addlllonal Infomiatlon Ioptlonal) You ma ch(￿ to indude further statements where relevant about.. Tlcket sales. proceed• of fvndraislng concerts and Indmdual donatlons by audlenc• mgmbgr6 and prlvats Indfvidua The tharlils principal Sour￿ ofluThJs {inckJding any fundraisiw) P•a 1.47 NIA Investsnent and ol¥'￿tiveS induding any social inveslrrenl poli lopted P•a 1.4 Inablllty to plan sufficlently long term b•Ca￿e of shortage of funds. Audlon¢o8 nwd to bo boosted to alovol ¢omm•nsurate wlth tho level of perfomiance by better use 01 th• unlque brnnd and marketlng. Thh I￿ Improved ov•r tho re A description of the prinopal risks facing the d￿￿ty P•1.45 Other Structure. Governance and Management Description of charity's trusts: Type of goveming document trust deed al charter How is the charty constiluted? (e.g unincorp)rated asscciats'on CIO Trustee selection methc*Js induding details of any constiiubonal prowsions e.g. ele(lion to FQSt or name of any person or tx)ty entiued to appoint one or m￿e trustees P•a 1.25 Constltutlon 1.25 CK) 1.25 New TnMtee8, up to a maxlmum of 12, may be olected by a majorlty doclslon of the exlstlng trustees. One new TruBts• (rafa Behtash) was appolnted In Novombor 2023 Addltlonal Inforniatlon (opuonall You ma ¢hoose to indude bjrther statements Whe￿ relevant about PolNxs and pfD*ures adopted for the indudion and training of trustees 1.51 The charity's organisational stru¢Xure and any wider netsvork with the charrty M?rks P•a 1.51 Relationship with any related P•• 1.51 Reference and Admlnistrative detalls Cha narr Other name the cha uses istered cha number Chaiity's princlpal address Fidelio CIO 11￿665 97 Clerkenwell Road. London. EC1R, 58X Namm of the ¢harlty I1￿te•S who manage th• ¢harlty 01h￿ lif any) Chairrnan. Trustee N•*0 ol E•r￿n lor bctyl onullod to nt Board of Trustees Stephen John Gomersall Stuart George 8aran lthole year Trustee Whole year Board of Trustees Roy Simpson Raffael￿ Morales Jing-IhÈi Yu Jonathan Levy Tara Behtash Tnjstee Vthole year Whole year hole year Vthole year V¥hole year Board of Tnjstees Trustee Board of Tnjstees Trustee Trustee Trustee Board of Trustees Board of Trustees Board of Trustees 10 11 12 13 14 15 16 17 18 19 20 r*e trustee5- nar￿$ of the direct(Ks at the date the re wasa roved None Name of trustees hokjing title to wopety bek)nging to the charity Dato•xl•d If not fort•&fi**Fidelio CIO**|
**Fidelio CIO**|
**Fidelio CIO**|
**Fidelio CIO**|**No (if any)**|**CC16a**| |---|---|---|---|---|---|---| ||**Receipts andpayments accounts**|||||| ||**For the period**
**from**||01/04/2024|**To**|31/03/2025|| |||||||| |**Section A Receipts and payments**||||||| |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**||**Restricted funds**
**to the nearest £**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**|**Last year**
**to the nearest £**| |
Ticket Sales|**10,855**||**-**|**-**|**10,855**|**8,218**| |Subsctiptions
|**-**||**-**|**-**|**-**|**210**| |~~Drinks~~|**292**||**-**|**-**|**292**|**1,963**| |Donations|**44,293**||**-**|**-**|**44,293**|**33,904**| |Gift Aid|**11,477**||**-**|**-**|**11,477**|**3,596**| |Corporate Donation|||**10,000**|**-**|**10,000**|| |Orchestra tax Relief|**20,068**||**-**|**-**|**20,068**|| |**_Sub total_**_(Gross income for AR)_|**86,985**||**10,000**|**-**|**96,985**|**47,891**| |**A2 Asset and investment sales,**
**(see table).**||||||| ||**-**||**-**|**-**|**-**|| ||**-**||**-**|**-**|**-**|**-**| |**_Sub total_**|**-**||**-**|**-**|**-**|**-**| |**_Total receipts_**
**A3 Payments**||||||| ||||**10,000**|**-**|**96,985**|**47,891**| |||||||| |
Professional fees|**36,061**||**9,000**|**-**|**45,061**|**21,224**| |TicketingCommission|**503**||**-**|**-**|**503**|**309**| |Video costs|**2,980**||**-**|**-**|**2,980**|**1,800**| |Food and wine|**-**||**-**|**-**|**-**|**270**| |Filming|**-**||**-**|**-**|**-**|**200**| |Conductor/Soloist|**3,483**||**-**|**-**|**3,483**|**3,900**| |Marketing|**168**||**-**|**-**|**168**|**190**| |Orchestral Manager|||**-**|**-**|**-**|**500**| |Consulting|**1,600**||||**1,600**|**5,626**| |Tax Advice|**2,880**||||**2,880**|| |Venue Hire|**7,853**||**1,000**||**8,853**|**6,900**| |Misc|**680**||**-**|**-**|**680**|**1,121**| |**_Sub total_ **|**56,208**||**10,000**|**-**|**66,208**|**42,040**| |||||||| |**A4 Asset and investment**
**purchases, (see table)**||||||| ||**-**||**-**|**-**|**-**|| ||**-**||**-**|**-**|**-**|| |**_Sub total_ **|**-**||**-**|**-**|**-**|**-**| |**_Total payments_**
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**||||||| ||||**10,000**|**-**|**66,208**|**42,040**| |||||||| ||**30,777**||**-**|
**-**|
**30,777**|**5,851**| ||**-**||**- **|**-**|**-**|**-**| ||**-**||**-**|**-**|**13,771**|**7,920**| ||**30,777**||**-**|
**-**|**44,548**|**13,771**| CCXX R1 accounts (SS) 13/06/2025 1 ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
Signed by one or two trustees on
behalf of all the trustees
**B5 Liabilities**
**B3 Investment assets**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B1 Cash funds**|**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))
Cash In Bank
**Details**
**Details**
**Details**
Signature|**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**44,548**
**-**
**-**
**-**
**-**
**-**
**44,548**
**-**
Agreement Error
OK
**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name|**Endowment**
**funds**
**to nearest £**| |---|---|---|---| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||OK| ||||**Endowment**
**funds**
**to nearest £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of approval| ||||| ||||| CCXX R2 accounts (SS) 13/06/2025 2 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report R0POrt to tho tru8toosl mom￿rn of Fidelio CIO On accounts for tha year •nd•d 3113r2025 Charity no (If any 1190665 Set out on pago• I report to the truste85 on my examination of the accounts of th8 above charty (Ihe Trusf) for the year ended 3110312025 R••pon$ibilities and As the charity trustees of the Trust, you are responsibbe for the p￿paratiOn ba•1• of r•port of the accounts in accordance with the requir8m8nts of the Charrties Act 2011 ('the Acf). I report in Tesped of my examination of the Twst's accounts carried out under section 145 of the 2011 Act and in carrying out my 8xaminalion. I have followed the applicable Directions given by the Charity Commission under sedion 14515)(bl of the Act. I have completed my examination. I confirm that no material matters have come to my attention (other than that disclosed below "l in connection with the eXaminat￿n which gives me cause to believe that in, any material resp8Ct.' accounting records were not kept in accordance wrth seciion 130 of the Act or the a¢counts do not accord wilh the accounting records Independent examIn•￿8 statement I have no concerns and have come across no other matters in connection wrth the examination to which attention shoukl be drawn in order to enable a proper understanding of ihe accounts to be reached. . Please wonls in the brack8ts rf they do not apply. Slgned: Dat•: 1410612025 Nam•: Jeremy Parkes Rolovant prof•s•lonal qualificatlon(8) or body lif any): ICAS Addr•M: The Pantiles . l Oakr￿kj Glade Weybridge KT13 9DP IER October 2018 Section B Disclosurg Only complete if the examiner needs to highlight matters of concern (see CC32. Independent examination of chanty accounts.. directions and guidance ftjr examiners). Give here brief detai18 of any items that tho examiner wishes to di8cIo80. None IER October 2018