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2025-08-31-accounts

Charity Number: 1194413

Olympias Music Foundation

Report and financial statements For the year ended 31 August 2025

Olympias Music Foundation

Reference and administrative information

for the year ended 31 August 2025

Charity number 1194413 Registered office and operational address Manchester Museum University of Manchester Oxford Road Manchester M13 9PL

Trustees Trustees who served during the year and up to the date of this report were as follows: Richard Eling Chair (to October 2025) Marian Sudbury Vice Chair/Interim Chair (from April 2025) Helen Krizos (to April 2026) Keisha Thompson (to April 2026) Will Allen (from April 2025) Paulette Bayley (from April 2025) Helen Palmer (from April 2025) Yana Eskandari (to April 2025) Aziz Ibrahim (to April 2025) Suki Pardesi (to April 2025) Key management Jo Yee Cheung Chief Executive (to July 2025) personnel Petra van den Houten Maternity cover Chief Executive (from July 2025) Bankers Lloyds Bank plc Blackheath London branch Independent Jennifer Daniel FCCA DChA, Slade & Cooper Limited Examiner Beehive Mill, Jersey St, Manchester, M4 6JG

1

Olympias Music Foundation

Trustees’ annual report

for the year ended 31 August 2025

The trustees present their report and the unaudited financial statements for the year ended 31 August 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the charity’s constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The objectives of the charity are to advance the education of the public in the subject of music by providing opportunities for active engagement and participation in music-making. This is done by providing choirs, music workshops, concerts, music lessons and other musical opportunities for children and adults – with a particular focus on reaching communities in the areas of Ardwick, Longsight and Rusholme.

The Trustees seek to achieve those objectives by establishing services in Manchester which provide access to music education for children and young people, (including refugees and asylum seekers) and individuals with special educational needs, and to seek to advance community integration and social empowerment of those groups.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set. The Trustees believe that the activities carried out benefit the public by providing music education and access to music to members of the community in disadvantaged parts of Manchester that would not ordinarily have access and be able to enjoy such education and provision.

Achievements and performance

The charity's main activities and who it tries to help are described above. All its charitable activities focus on the provision of access to music and music education to groups experiencing financial and social disadvantage including, in particular, children and vulnerable adults, and are undertaken to further Olympias Music Foundation’s charitable purposes for the public benefit.

September 2024 marked the second year of the delivery of our Strategy and Business Plan for 2023-26, ‘Forging Musical Futures’.

In addition to welcoming a further 55 children to join our Learn to Play music programme (180 in 202425, 125 in 2023-24, 85 in 2022-23), this year saw the move of all lessons to our ‘new home’ Longsight Library where we now deliver lessons 5 nights a week. Our Children’s Orchestra and Parent Orchestra remained at Manchester Museum. In January 2025 we implemented an innovative teacher training

Olympias Music Foundation

Trustees’ annual report

for the year ended 31 August 2025

programme, Global Music Teacher Training, incorporating the teaching of three non-western classical instruments and a joint PhD delivered in partnership with the Royal Northern College of Music (RNCM).

Our work was covered in several publications, including Classical Source, I Love Manchester, And Finally, and Arts Professional including for our award-winning Recycled Orchestra Project for which we received funding from the Oglesby Charitable Trust.

Alongside day-to-day operations the charity navigated several staffing changes and changes to trustees as terms reached their natural end and new skills were identified as being relevant. In particular, the Founder/CEO started her maternity leave in July 2025 following a handover period to the Interim CEO who started in May 2025.

The core team currently consists of:

Events

In December 2024, we celebrated the end of the new term with our annual Christmas Concert, welcoming children from across Learn to Play to perform for an audience of their families and the charity’s supporters at Manchester Museum.

In March 2025, Olympias took part in its second ‘Big Give Arts for Impact’ campaign, a match-funded fundraising campaign aimed at supporting charities to increase their base of supporters by incentivising match-funded donation. Again, we were able to raise £5,000 over the course of 7 days. The fundraising campaign continued to build a solid foundation for the charity to develop its work around individual giving and begin to diversify income away from solely grant funding – as per the aims of our Strategy and Business Plan for 2023-26. That month we also celebrated our Spring Concert alongside a community Iftar, welcoming many families to join us.

The academic year ended with our termly Summer Concert at 422 in Longsight which included performances by our Children’s Voices Choir and several brave soloists – followed by sharing of food and drinks for the families, staff, freelancers and supporters. At the end of August, we held our annual residential music course in Snowdonia, Music and Mountains. The course culminated in a small concert, which was filmed and shared with the children’s families.

During the summer, plans were put in place to celebrate Olympias’ 10th birthday (at Band on the Wall, February 2026, after the year end for these accounts) with a view to engaging more major donors. This event went well.

Financial review

Total income for the period was £348,929 consisting of £243,164 from charitable activities including grants from funders such as the Oglesby Charitable Trust; £61,712 from donations comprising individual giving, major gifts and community fundraising; and £44,053 from other trading activities

3

Olympias Music Foundation

Trustees’ annual report

for the year ended 31 August 2025

such as earned income, Gift Aid and forfeited project deposits. We are grateful to all supporters for their kindness and generosity.

Expenditure for the period was £387,277 and included teaching costs, instruments, venue hire and salaries for Olympias’ Chief Executive; Development Director; Programmes Manager; Development and Finance Manager; and Programmes and Finance Coordinator.

On 31 August 2025, current assets sat at £110,170 and fixed tangible assets were £26,020. The balance of our unrestricted funds was £93,706, and the balance of our restricted funds was £7,156.

Reserves policy

The Trustees recognise the need for the association to maintain adequate reserves to enable it to continue to carry out its objectives. The Trustees aim to maintain unrestricted free reserves equivalent to three months running costs. Free reserves are defined as unrestricted funds excluding fixed assets and any funds not readily available for general use.

At 31 August 2025, the charity held total unrestricted reserves of £93,706, of which free reserves were £67,686, compared with a target level of £85,750. The Trustees and staff are taking steps to rebuild reserves through continued fundraising efforts.

Structure, governance and management

Olympias incorporated as a charitable incorporated organisation ('CIO') on 23 April 2021 and is governed by the constitution of the same date.

The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts.

Appointment of Trustees

The Trustees are appointed in accordance with the constitution and are listed on page 1. The minimum number of Trustees is three; there is no maximum number. The method for appointment of Trustees and the duration over which they hold office is described in the constitution.

Risk management

The Trustees regularly review risks and how to mitigate them and work is ongoing to upgrade the charity’s risk management processes and mitigations.

The collective expertise of the Board, combined with the depth and quality of their discussions, has played a vital role in identifying potential risks promptly. Through thoughtful debate and informed perspectives, the Board has worked to ensure that emerging risks are addressed efficiently and proactively.

The key risks in FY 2024/25 were considered to be:

4

Olympias Music Foundation

Trustees’ annual report

for the year ended 31 August 2025

Specifically, the Trustees identified the CEO’s maternity leave as a period when sustaining income would present the greatest challenge for Olympias. To address this, they appointed an interim CEO who brought substantial expertise in development, with a strong background in securing major gifts. This decision ensured continued leadership and effective fundraising during the CEO’s absence, helping to safeguard the organisation’s financial stability throughout the transition.

In addition, the trustees identified safeguarding as something which required greater board attention in 2025/2026.

5

Olympias Music Foundation

Trustees’ annual report

for the year ended 31 August 2025

Statement of responsibilities of the trustees

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 charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees’ annual report has been approved by the trustees on //2026 and signed on their 26 06 behalf by

Marian Sudbury

Interim Chair of Trustees

6

Independent examiner’s report

to the members of

Olympias Music Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] August 2025 which are set out on pages 8 to 28.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no 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 charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Jennifer Daniel FCCA DChA

Slade & Cooper Limited Beehive Mill Jersey St Manchester M4 6JG

Date //2026 26 06

7

Olympias Music Foundation

Statement of Financial Activities

for the year ended 31 August 2025

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
45,142
Charitable activities
4
78,094
5
44,053
Total income
167,289
Expenditure on:
Raising funds
6
8,274
Charitable activities
7
201,308
Total expenditure
209,582
9
(42,293)
Transfer between funds
18,357
Net movement in funds for the year
(23,936)
Reconciliation of funds
Total funds brought forward
117,642
Total funds carried forward
93,706
Other trading activities
Net income/(expenditure) for the
year		 Restricted
funds
£
16,570
165,070
-
181,640
720
176,975
177,695
3,945
(18,357)
(14,412)
21,568
7,156		 Total funds
2025
£
61,712
243,164
44,053
348,929
8,994
378,283
387,277
(38,348)
-
(38,348)
139,210
100,862		 Total funds
2024
£
76,348
262,441
14,022
352,811
2,992
274,745
277,737
75,074
-
75,074
64,136
139,210

All income and expenditure derive from continuing activities.

8

Olympias Music Foundation

Balance Sheet

as at 31 August 2025

Note
£
£
Fixed assets
Tangible assets
13
26,020
Total fixed assets
26,020
Current assets
Debtors
14
3,455
Cash at bank and in hand
15
106,715
Total current assets
110,170
Liabilities
Creditors: amounts falling
due in less than one year
16
(35,328)
Net current assets
74,842
Total assets less current liabilities
100,862
Net assets
100,862
Funds of the charity:
Restricted income funds
18
7,156
Unrestricted income funds
19
93,706
Total charity funds
100,862
2025
Approved by the trustees on //2026 and signed on their behalf by:
The notes on pages 10 to 28 form part of these accounts.
26 06		 £
£
12,215
12,215
-
175,342
175,342
(48,347)
126,995
139,210
139,210
21,568
117,642
139,210
2024		 £
£
12,215
12,215
-
175,342
175,342
(48,347)
126,995
139,210
139,210
21,568
117,642
139,210
2024
12,215
126,995
139,210
139,210
21,568
117,642
139,210

Marian (Trustee)Sudbury Will (Trustee)Allen

9

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.

The accounts (financial statements) have been prepared to give a 'true and fair view' and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following 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), second edition - October 2019, rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Olympias Music Foundation meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

10

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

11

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 8.

i Tangible fixed assets

Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Equipment and instruments

10%

j Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

12

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

l Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

n Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within expenditure on charitable activities.

The money purchase plan is managed by Nest Pensions Plc and the plan invests the contributions made by the employee and employer in an investment fund to build up over the term of the plan a pension fund which is then converted into a pension upon the employee’s normal retirement year age when eligible for a state pension. The charity has no liability beyond making its contributions and paying across the deductions for the employee’s contributions.

13

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

2 Legal status of the charity

The charity is a charitable incorporated organisation, registered as a charity in England & Wales.

3 Income from donations and legacies

Current reporting period
Donations
Individual Giving
Major Donor
Event & Community Fundraising
Total
Previous reporting period
Donations
Individual Giving
Major Donor
Event & Community Fundraising
Total		 Unrestricted
£
6,918
25,224
13,000
45,142
Unrestricted
£
15,578
56,100
4,670
76,348		 Restricted
£
8,007
5,000
3,563
16,570
Restricted
£
-
-
-
-		 Total 2025
£
14,925
30,224
16,563
61,712
Total 2024
£
15,578
56,100
4,670
76,348

14

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

4 Income from charitable activities

Current reporting period
Corporate income
Grant income
Total
Previous reporting period
Corporate income
Grant income
Total
5
Income from other trading activities
Earned income
Other income		 Unrestricted
£
25,594
52,500
78,094
Unrestricted
£
1,750
66,056
67,806		 Restricted
£
3,000
162,070
165,070
Restricted
£
7,500
187,135
194,635
2025
£
12,531
31,522
44,053		 Total 2025
£
28,594
214,570
243,164
Total 2024
£
9,250
253,191
262,441
2024
£
12,889
1,133
14,022

All income from other trading activities is unrestricted.

15

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

6 Cost of raising funds

Development, fundraising & promotional costs
Previous reporting period
Development, fundraising & promotional costs
7
Analysis of expenditure on charitable activities
Current reporting period
Salaries & overhead costs
Freelance teaching costs
Instruments/maintenance
One-off events/projects
Depreciation
Previous reporting period
Salaries & overhead costs
Freelance teaching costs
Instruments/maintenance
One-off events/projects
Depreciation
Governance costs (see note 8)
Governance costs (see note 8)		 Unrestricted
£
8,274
8,274
Unrestricted
£
92
92
Unrestricted
£
117,732
64,606
1,767
12,003
2,740
2,460
201,308
Unrestricted
£
21,769
59,864
1,522
7,573
670
-
91,398		 Restricted
£
720
720
Restricted
£
2,900
2,900
Restricted
£
61,282
99,559
3,225
12,909
-
-
176,975
Restricted
£
129,626
47,410
2,764
2,805
742
-
183,347		 Total 2025
£
8,994
8,994
Total 2024
£
2,992
2,992
Total 2025
£
179,014
164,165
4,992
24,912
2,740
2,460
378,283
Total 2024
£
151,395
107,274
4,286
10,378
1,412
-
274,745

16

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

8 Analysis of governance costs

Current reporting period
Accountancy services
Independent examination fees
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation
Independent examiner's remuneration:
accountancy fees
Independent examiner's fees		 Total 2025
£
1,440
1,020
2,460
2025
£
2,740
1,200
500		 Total 2024
£
-
-
-
2024
£
1,412
-
-

9 Net income/(expenditure) for the year

17

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

10 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2025
£
143,303
6,278
3,447
153,028		 2024
£
84,407
9,483
2,317
96,207

No employees has employee benefits in excess of £60,000 (2024: Nil).

The average number of staff employed during the period was 5 (2024: 5).

The average full time equivalent number of staff employed during the period was 4.0 (2024: 3.8).

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £55,287 (2024: £40,606).

11 Trustee remuneration and expenses, and related party transactions

No trustees received any remuneration or reimbursed expenses during the year (2024: Nil).

Aggregate donations with conditions from related parties were £nil (2024: £nil).

Nadia Eskandari, who is the daughter of Yana Eskandari, a Trustee of Olympias, provided services to Olympias in the role of Violin and Viola Tutor and received income of £10,411 (2024: £11,462) from Olympias. At the end of the financial year, nothing was owed to Nadia Eskandari.

18

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

12 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

13 Fixed assets: tangible assets

Cost
Additions
Disposals
Depreciation
Charge for the year
Disposals
Net book value
At 31 August 2024
At 1 September 2024
At 31 August 2025
At 1 September 2024
At 31 August 2025
At 31 August 2025		 Equipment &
Instruments
£
15,726
16,545
-
32,271
3,511
2,740
-
6,251
26,020
12,215

19

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

14
Debtors
Other debtors
15
Cash at bank and in hand
Cash at bank and on hand
16
Creditors: amounts falling due within one year
Trade creditors
Other creditors and accruals
Deferred income
Taxation and social security costs		 2025
£
3,455
3,455
2025
£
106,715
106,715
2025
£
9,390
7,993
17,900
45
35,328		 2024
£
-
-
2024
£
175,342
175,342
2024
£
-
9,133
37,274
1,940
48,347

20

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

17 Deferred income

Deferred income
Deferred grant brought forward
Grant received
The Shears Foundation
Northern Consortium
Albert & Eugenie Frost Music Trust
The Boris Karloff Charitable Grant
The Martyn Bracegirdle Charitable Foundation
The Oglesby Charitable Trust
The Victoria Wood Foundation
Corporate income
John Pass Ltd
Released to income from charitable activities
Deferred grant carried forward
The National Lottery Community Fund (Awards
for All)		 2025
£
37,274
1,900
8,000
8,000
-
-
-
-
-
-
(37,274)
17,900		 2024
£
-
-
-
6,300
1,000
250
9,864
11,860
5,000
3,000
-
37,274

21

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

18 Analysis of movements in restricted funds

Balance at
1
September
2024
£
Restricted grant income
-
-
-
469
4,421
-
3,989
-
-
-
-
9,976
1,722
635
21,212
The Radcliffe Trust
Small grants -
Learn to Play
The Oglesby
Charitable Trust
Small grants -
other objects
The Victoria Wood
Foundation
Albert & Eugenie
Frost Music Trust
The Eric &
Margaret Kinder
Charitable Trust
Subtotal Grant
income
Northern Trains
Limited
One Manchester
The National
Lottery
Community Fund
(Awards for All)
The Oglesby
Charitable Trust
(Green Grants)
Arts Council
England
Small grants -
Core Costs
The Big Give Trust
Current reporting
period		 Income
£
6,300
24,977
5,000
10,000
9,864
10,000
41,441
10,000
7,438
5,000
5,000
3,800
21,500
1,750
162,070		 Expenditure
£
(6,300)
(17,157)
(5,000)
(2,155)
(14,285)
(10,000)
(43,501)
(7,516)
(7,044)
(5,000)
(5,000)
(11,507)
(21,094)
(2,210)
(157,769)		 Transfers
£
-
(7,633)
-
(6,564)
-
-
-
-
-
-
-
(2,179)
(1,981)
-
(18,357)		 Balance at
31 August
2025
£
-
187
-
1,750
-
-
1,929
2,484
394
-
-
90
147
175
7,156

22

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

18 Analysis of movements in restricted funds (continued)

21,212
Restricted corporate income
-
356
356
Restricted donation income
-
-
Major gifts
-
-
Total
21,568
The Quilter
Foundation
Subtotal Grant
income brought
forward
Individual giving
John Pass
Jewellers
Community
fundraising		 162,070
3,000
-
3,000
3,563
8,007
5,000
16,570
181,640		 (157,769)
(3,000)
(356)
(3,356)
(3,563)
(8,007)
(5,000)
(16,570)
(177,695)		 (18,357)
-
-
-
-
-
-
-
(18,357)		 7,156
-
-
-
-
-
-
-
7,156

23

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

18 Analysis of movements in restricted funds (continued)

Balance at
1
September
2023
£
Restricted grant income
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Subtotal
The Eric &
Margaret Kinder
Charitable Trust
The Foyle
Foundation
Garfield Weston
Charitable Trust
The Granada
Foundation
The Allan and
Nesta Ferguson
Charitable Trust
The Gisela
Graham
The Linder
Foundation
CRH Charitable
Trust
Previous reporting
period
The D'Oyly Carte
Charitable Trust
KFC Foundation
The Casey Trust
The Golsoncott
Foundation
The Black Hill
Charitable Trust		 Income
£
5,000
2,000
1,000
5,000
4,000
10,000
30,000
30,000
1,500
1,000
3,000
1,875
2,000
96,375		 Expenditure
£
(5,000)
(1,990)
(1,000)
(5,000)
(3,793)
(9,531)
(27,433)
(25,758)
(1,500)
(1,000)
(3,000)
(360)
(2,000)
(87,365)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 August
2024
£
-
10
-
-
207
469
2,567
4,242
-
-
-
1,515
-
9,010

24

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

18 Analysis of movements in restricted funds (continued)

-
-
4,682
835
-
6,111
-
-
921
12,549
Restricted corporate income
631
631
Total
13,180
The National
Lottery
Community Fund
(Awards for All)
The Matthew
Nicholls
Foundation
The Oglesby
Charitable Trust
The Martyn
Bracegirdle
Charitable
Foundation
The Noel Coward
Foundation
The Quilter
Foundation
TalkTalk Telecom
Group Limited
(Future Fibre
Fund)
The Scops Arts
Trust
We Love MCR
Charity
Subtotal brought
forward		 96,375
250
25,000
9,864
1,705
44,641
3,900
2,400
3,000
187,135
7,500
7,500
194,635		 (87,365)
(250)
(26,515)
(6,278)
(1,705)
(46,763)
(3,900)
(2,400)
(3,296)
(178,472)
(7,775)
(7,775)
(186,247)		 -
-
-
-
-
-
-
-
-
-
-
-
-		 9,010
-
3,167
4,421
-
3,989
-
-
625
21,212
356
356
21,568

25

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

18 Analysis of movements in restricted funds (continued)

The Big Give Trust Delivery of music lessons and cultural opportunities for children experiencing low income, via the Learn to Play programme The Eric & Margaret Delivery of music lessons and cultural opportunities for children Kinder Charitable experiencing low income, via the Learn to Play programme Trust The Albert & Eugenie Learn to Play: music lessons & cultural opportunities for children Frost Music Trust CIO experiencing low income Arts Council England Global Music Teacher Training: pedagogy training for, and delivery of, nonwestern instrument teaching The Eric & Margaret Learn to Play: music lessons & cultural opportunities for chidlren Kinder Charitable experiencing low income Trust The National Lottery Voices of Hope: musical sessions for women from asylum seeker and Community Fund refugee backgrounds (Awards for All) Northern Trains Learn to Play: music lessons & cultural opportunities for chidlren Limited experiencing low income The Oglesby Core Costs: salaries & oncosts for the Chief Executive and Programmes Charitable Trust Manager The Oglesby Recycled Orchestra project: repairing donated musical instruments for use Charitable Trust by children experiencing low income (Green Grants) One Manchester Learn to Play: music lessons & cultural opportunities for chidlren experiencing low income The Radcliffe Trust Learn to Play: music lessons & cultural opportunities for chidlren experiencing low income The Victoria Wood SEND Workshops: music & movement sessions for children experiencing Foundation profound and multiple learning disabilities

26

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

19 Analysis of movement in unrestricted funds

General fund
Previous reporting
period
General fund
Current reporting
period		 Balance at
1
September
2024
£
117,642
Balance at
1
September
2023
£
50,956		 Income
£
167,289
Income
£
158,175		 Expenditure
£
(209,582)
Expenditure
£
(91,489)		 Transfers
£
18,357
Transfers
£
-		 As at 31
August
2025
£
93,706
As at 31
August
2024
£
117,642

General fund represents free reserves available to the charity

20
Analysis of net assets between funds
Current Reporting Period
Tangible fixed assets
Other net current assets/(liabilities)
Total
Previous Reporting Period
Tangible fixed assets
Other net current assets/(liabilities)
Total		 General
fund
£
26,020
67,686
93,706
General
fund
£
4,965
105,427
110,392		 Restricted
funds
£
-
7,156
7,156
Restricted
funds
£
7,250
21,568
-		 Total
£
26,020
74,842
100,862
Total
£
12,215
126,995
139,210

27

Olympias Music Foundation

Notes to the accounts for the year ended 31 August 2025 (continued)

21 Post balance sheet events

The trustees confirm that no significant events occurred after 31 August 2025 that require disclosure in these financial statements.

22 Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating
activities		 2025
£
(38,348)
2,740
(3,455)
(13,019)
(52,082)		 2024
£
75,074
1,412
-
(9,766)
66,720

28