## **Report and Financial Statements** For the year to 30 September 2025 **A CHARITABLE INCORPORATED ORGANISATION REGISTERED CHARITY NUMBER 1191335 REGISTERED BY THE CHARITY COMMISSION FOR ENGLAND AND WALES** 1 ## **CONTENTS:** ||**Page no.**| |---|---| |**TRUSTEE REPORT:**|| |- REFERENCE AND ADMINISTRATIVE DETAILS|3| |- STRUCTURE, GOVERNANCE AND MANAGEMENT|3| |- OBJECTIVES AND ACTIVITIES|5| |- ACHIEVEMENTS AND PERFORMANCE|4| |- STATEMENT ON PUBLIC BENEFIT|6| |**FINANCIAL REVIEW**|6| |**FINANCIAL STATEMENTS**|8| |**NOTES TO THE FINANCIAL STATEMENTS**|10| |**INDEPENDENT EXAMINER’S REVIEW**|13| 2 ## **TRUSTEE REPORT** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Charity Name:** Fantasia Orchestra ## **Charity Number:** 1191335 ## **Address of Principal Office:** 115 Brondesbury Road, London NW6 6RY, United Kingdom ## **Trustees:** The trustees during this period were (in alphabetical order): Tegan Eldridge Susan Guy Julian Hardwick James Hobson (appointed 27 February 2025) Jacqueline Ranawake (appointed 26 July 2025) David Kerr (retired the Board 31 August 2025) Charles Wolcott (retired the Board 2 September 2025) ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The charity is a Charitable Incorporated Organisation, which was registered on 17 September 2020. ## **Governing Document:** The charity has a Constitution (Governing Document), dated 22 June 2020. ## **Trustees:** The charity's policy on the appointment of trustees is to be found in the Constitution. The founding trustees have agreed role descriptions for their activities within the organisation. New trustees are appointed based on their relevant skills and experience for the organisation. Nominations are discussed and appointed by the board of trustees. ## **Management:** The orchestra’s affairs were managed throughout the period by its CEO and Artistic Director (Tom Fetherstonhaugh). This season saw the appointment of an Executive Director in January 3 2025, who worked alongside the CEO and an internal team consisting of an Operations Manager (to January 2025), Concerts Producer (from January 2025), Content and Communications Manager, and a PR Consultancy. ## **Bankers:** The orchestra’s bankers are HSBC UK Bank plc, 1 Centenary Square, Birmingham B1 1HQ ## **OBJECTIVES AND ACTIVITIES** **Fantasia Orchestra's Charitable Objectives** (as stated in the charity's Constitution): To advance the education of the public in the art of music, particularly but not exclusively through: - 1) audience engagement with classical and/or contemporary compositions; and/or - 2) broadening the reach and accessibility of music in the UK, particularly, but not exclusively, to young people. ## **Main Activities Undertaken:** ## Concerts: 18.11.24 - 'Strings and Serenades' Concert with Ben Goldscheider (horn) and Toby Spence (tenor); St Gabriel's Church, Pimlico, London 22.5.25 - Concert at Newbury Spring Festival with Zoë Tweed (horn); St Lawrence's Church, Hungerford, Berkshire 12.6.25 - Concert at Northern Aldborough Festival with Tamsin Waley-Cohen (violin); St Andrew's Church, Aldborough, North Yorkshire 21.6.25 - Concert at Proms at St Jude's with Dame Evelyn Glennie (percussion); St Jude's Church, Hampstead Garden Suburb, London 11.7.25 - Concert at Deal Music and Arts Festival with Lucy Crowe (soprano); St George's Church, Deal, Kent ## Educational Activities: 4.2.25 - Take Note Strings Workshop in partnership with DaCapo Music Foundation (Brookland Junior School, Finchley, London) 29.4.25 - Take Note Percussion Workshop in partnership with DaCapo Music Foundation (St Mary's and St John's Primary School, Hendon, London) 26.6.25 - Proms at St Jude's Schools' Concert; St Jude's Church, Hampstead Garden Suburb, London 29.6.25 - Proms at St Jude's Family Concert; Henrietta Barnett School Hall, Hampstead Garden Suburb, London 4 ## **ACHIEVEMENTS AND PERFORMANCE** ## On the concert platform The 2024-2025 season saw a varied range of concert activity for Fantasia Orchestra, following their televised BBC Proms debut in August 2024. With multi-genre programming at the centre of the orchestra's artistic life, Fantasia played boundary-breaking programmes with star soloists to audiences across the country. The season started with an own promotion concert entitled 'Strings and Serenades', which featured at its heart Britten's Serenade for Tenor, Horn, and Strings, with horn soloist Ben Goldscheider and tenor Toby Spence. Fantasia was delighted to return to a number of festivals in the 2024-25 season. These include the Newbury Spring Festival (May 2025), where Zoë Tweed played Mozart's Horn Concerto no. 4; Northern Aldborough Festival (June 2025) with violinist Tamsin Waley-Cohen; and Proms at St Jude's (June 2025), where Dame Evelyn Glennie joined as soloist. In July 2025 the orchestra made its debut at Deal Music and Arts Festival, Kent, with soprano Lucy Crowe. Themed on 'birdsong', this concert's repertoire featured a wide range of music from Mozart, Price and Strauss to Messiaen, Sherwin and Gershwin. ## Broadening the reach and accessibility of music Fantasia Orchestra's mission to broaden the reach and accessibility of music in the UK continued to thrive during the 2024-25 season. The orchestra's partnership with The DaCapo Music Foundation enjoyed another successful year, with a number of projects being delivered together. 2024-25 saw the continuation of Fantasia's and DaCapo's Take Note scheme, a series of workshops in primary schools. Having piloted the series in the 2023-24 season, this year the workshops were rolled out into schools, and will continue to be throughout the 2025-26 season. Fantasia's ongoing relationship with Proms at St Jude's saw two educational events take place during the 2025 festival. The annual Schools' Concert, always a highlight of Fantasia's season, took place on 26 June 2025 and saw hundreds of children from state schools performing alongside Fantasia's professional musicians. The Family Concert at the festival featured Saint-Saëns's Carnival of the Animals, performed by Fantasia alongside illustrator and storyteller James Mayhew. It was a wonderful way to share music with young people, many of whom were attending their first ever concert. ## Internal activity The 2024-25 season saw a significant addition to the Fantasia internal team through the public recruitment of an Executive Director. Appointed in January 2025, the ED works alongside the Conductor and Artistic Director (CEO) to grow the orchestra's activity into the future. 5 ## **Statement on Public Benefit** The trustees are satisfied that Fantasia Orchestra met its charitable objectives across the season, and that it was successful in discharging its aims and activities for the public benefit (according to the Charity Commission guidance on public benefit). ## **FINANCIAL REVIEW** ## **Reserves and Financial Risks Policy:** Board meetings were held regularly, approximately every quarter. The Treasurer Trustee, in conjunction with the charity's management, kept the trustees informed of the organisation's financial position, allowing financial risk to be assessed on an ongoing basis. In this fifth year, and with limited reserves available, the Board of Trustees and the management have a policy to build reserves steadily across the first few years of Fantasia Orchestra's charitable status. The aim is to try to build reserves to the level equivalent to at least the estimated expenditure required to cover the charity's core operational costs for a 6-month period. This year was close to break even in terms of the financial results of charitable activities and donations/sponsorship. ## **Trustee commentary on finances:** The period to which these accounts relate is a twelve month period to 30th September 2025. Fundraised income: a number of grants were received in the period, alongside a number of philanthropic donations. Gift Aid @ 25% on eligible amounts was claimed. There was one 'own-promotion' event with direct ticket sales in the year. The majority of event income was fees received from the provision of charitable services, including concert/performance fees (for concerts which were presented by a third-party promoter). The Board allocated £548 as Restricted Funds for 2024/25 for reinvestment into Fantasia’s education projects. This has been fully utilised in the current year. This money was erroneously included in Unrestricted Reserves in the 2023/24 accounts and this has now been corrected. ## **Trustees’ responsibilities:** The trustees are responsible for the preparation of these financial statements and for being satisfied that they give a true and fair view, and for such internal controls as they determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to error or fraud. In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing as applicable matters related to going concern. The trustees are satisfied that the statements made herein represent a true and fair view of the financial position of the Charity and that it can continue as a going concern. 6 ## **Trustees’ responsibilities in relation to the financial statements** The trustees are responsible for preparing this annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these Financial Statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles of the Charities SORP. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements. - Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. - The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ascertain to ensure that the Financial Statements comply with the regulations under the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees on 3 February 2026 and signed on their behalf by: Tegan Eldridge Interim Chair 7 ## **FINANCIAL STATEMENTS** ## **Statement of Financial Activities** ## **For the period to 30 September 2025** |**Income**
Donations inc. gift aid
Charitable activities
Other
Total income
**Expenditure**
Charitable activities
Other
Total expenditure
**Net income/expenditure**|2025
2024
Unrestricted
Restricted
Total
£
£
£
£
50,714
0
50,714
48,273
40,878
0
40,878
84,448
0
0
0
469| |---|---| ||91,592
0
91,592
133,190| ||52,495
458
52,953
102,118
40,070
0
40,070
30,614| ||95,565
458
93,023
132,732| ||(973)
(458)
(1,431)
458| 8 ## **Statement of Financial Position** ## **30 September 2025** |**Assets**
Cash at bank
Debtors & prepayments
Total assets
**Liabilities – less than one year**
Creditor and accruals
**Net assets**
**Charity funds**
Restricted reserves
Unrestricted reserves
Total funds carried forward|**2025**
2024
**£**
£
**22,995**
21,098
**217**
4,634| |---|---| ||**23,212**
25,732| ||| ||**1,113**
2,202| ||| ||**22,099**
23,530| ||**0**
458
**22,099**
23,072| ||**22,099**
23,530| 9 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **Notes to the Financial Statements** ## **For the year ended 30 September 2025** ## **Statutory Information** Fantasia Orchestra is a charity registered in England and Wales. The charity’s details can be found within the Trustee Report. ## **Currency** The presentation currency is £ sterling. ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Material uncertainties** There are no material uncertainties about the ability of the charity to continue as a going concern. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Charitable activities income includes performance fees, and Charitable activities expenditure includes performance fees, management costs, venue hire costs, and other related costs. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Other expenditure includes administration costs, memberships/ insurance and travel costs, and professional fees. ## **Taxation** The charity is exempt from tax on its charitable activities. 10 **Net income/expenditure** Net income/(expenditure) is stated after charging: |**Net income/expenditure**
Net income/(expenditure) is stated after charging:|**Net income/expenditure**
Net income/(expenditure) is stated after charging:|| |---|---|---| |2025||2024| |Independent examiner's report|£534|£450| ## **Trustee remuneration & benefits** No trustees received any financial benefit from the charity during this period (2024/25: £nil). ## **Average number of Employees** Average number of employees during the year was: NIL (2024 - £nil) ## **Debtors and prepayments** |**Debtors and prepayments**||| |---|---|---| ||2025
2024|| |Debtors
£0
£2,825||| |Prepayments
£217
£1,809||| ||£217
£4,634|| |**Creditors and accruals**||| ||2025
2024|| |Creditors

£0

£900||| |Accruals and deferred income
£1,113||£1,302| ||£1,113|£2,202| ## **Related party transactions** There were no related party transactions for the year ended 30 September 2025. ## **Movement in funds** |General fund
Restricted funds|01/10/24
Movement in
funds
30/09/25
£23,072
(£973)
£22,099| |---|---| ||£23,072
(£973)
£22,099
£458
(£458)
£0| ||£23,530
(£1,431)
£22,099| 11 Net movements in funds, included in the above are as follows: |General fund
Restricted funds|Income
Resources
expended
Movement
in funds
£91,592
£92,565
(£973)| |---|---| ||£91,952
£92,565
(£973)
£0
(£458)
(£458)| ||£91,592
£93,023
(£1,431)| 12 ## **Fantasia Orchestra** ## **Independent Examiner's Report to the Trustees of Fantasia Orchestra** ## **For the year ended 30 September 2025** I report to the trustees on my examination of the accounts of Fantasia Orchestra (the Trust) for the year ended 30 September 2025. ## **Responsibilities and Basis of Report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2022 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent Examiner's Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; 3. or the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. …................................................................. Cornfield Accountants Limited Date: 03/02/2026 5 Cornfield Terrace Eastbourne BN21 4NN 13