**Charity number: 1196165**
THE GRASSHOPPER MUSIC TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
## **THE GRASSHOPPER MUSIC TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**|**1**|
|**Trustees' report**|**2**|
|**Independent examiner's report on the financial statements**|**6**|
|**Statement of financial activities**|**7**|
|**Balance sheet**|**8**|
|**Notes to the financial statements**|**9**|
**THE GRASSHOPPER MUSIC TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025**
**Trustees** Donald Sturrock, Chair (appointed 6 September 2021) Alexandra Dinwiddie, Trustee (appointed 6 September 2021) Thorvald Blough, Trustee (appointed 6 May 2022) Thomas Bowes, Trustee (appointed 6 May 2022)
**Charity registered number** 1196165 **Registered office** 42 Lots Road London SW10 0QF **Company Secretary** Donald Sturrock **Independent Examiner** H. M. Veglio, FCA 1 Hogarth Way TW12 2EL
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**THE GRASSHOPPER MUSIC TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The trustees present their report together with financial statements of The Grasshopper Music Trust (GMT) for the year 2025. The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective October 2019).
## **Objectives and activities**
## **Policies and objectives**
The objects of the charity are, for the public benefit, the promotion and appreciation of music (in particular, but not limited to, classical music) among members of the public, in particular but not exclusively to young people.
The trustees have had regard to the guidance issued by the Charity Commission on Public Benefit when setting their objectives.
The charity was set up initially to be a vehicle for Dame Felicity Dahl to continue her generous support of developing an appreciation of classical orchestral music among young people and to continue the development and promotion of the operatic and concert pieces based on adaptations of Roald Dahl’s verse and stories after her death. The creation of Odyssey Festival Orchestra (OFO) in the spring of 2022, with very similar aims to The Grasshopper Music Trust, but without an existing charitable structure of its own, presented an opportunity for The Grasshopper Music Trust to begin this support of young orchestral musicians and orchestral audience-building.
OFO is a distinctive ensemble, made up of young musicians aged between 18 and 30, many (but not all) of whom are at music conservatoire, or have just left, and are taking their first steps into life as a professional musician. OFO provides to all these young musicians, free of charge, professional orchestral coaching alongside an opportunity to perform in first class venues and maintain their orchestral playing at a high level. The trustees believe this activity plays an important educational role in the training of young musicians and that OFO’s mission to present great orchestral music in its cultural context is also an original and effective way of bringing new, younger audiences to classical music. Dame Felicity is an enthusiastic and generous supporter of OFO and its aims.
The trustees continued to approve the choice of Music Link International Ltd. (Company 03031030, established 1995) as producers of OFO concerts on the basis that Music Link International does not charge OFO for its production services and administration, nor make any profit from the arrangement (this agreement will be kept under regular review). Donald Sturrock, a director of Music Link International Ltd, absented himself from this decision. Donald Sturrock does not charge for any of his services to OFO.
Music Link International also undertakes that all box office income received for OFO concerts is directed towards defraying the costs for the relevant concert. Costs not covered by box office receipts are met by donations for OFO held by GMT and transferred to Music Link International in advances of up to £10,000 which are then checked against appropriate proof of expenditure.
The trustees had agreed to support OFO’s concerts up to £45,000 per concert for OFO’s 2025 season, but agreed to raise this to £60,000 for OFO’s September concert. This was to allow for an expansion of OFO’s activities, including a formal recruitment drive in all London music colleges, increased educational outreach work, a social media plan, the devising of a mental health workshop for orchestra members and the employment of Sara Rahman as a freelance production manager. The trustees have agreed to funding OFO’s 2026 concerts up to a level of £50K for January, £60K for April 2026 and £70K for September 2026.
The charity solicits donations, but only currently in respect of Odyssey Festival Orchestra.
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**THE GRASSHOPPER MUSIC TRUST TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Strategic report**
## **Achievements and performance**
## **a. Review of activities**
The trustees are delighted to report that in 2025, The Grasshopper Music Trust’s support allowed OFO to go from strength to strength, with three successful Cadogan Hall concerts in January, May and September. Average audiences were over 80%, with the September concert exploring philosopher Friedrich Nietzsche’s impact on music only eight seats short of a sell-out. More than three quarters of audience members continued to pay £15 per seat or less and around 40% were under thirty. Audience approval ratings were over 95% positive regarding the standard of the orchestra’s playing as well as with respect to its mission of presenting the great orchestral works in their cultural context, using actors, singers and dancers.
In this period, The Grasshopper Music Trust continued to receive support from the charitable trusts and foundations that had supported OFO in its first two seasons. It also received support in the form of a grant of £15,000 from Arts Council England (ACE), £13,500 of which was received in 2025. The continued support of The Sir Thomas Beecham Trust also enabled The Grasshopper Music Trust to award bursaries of £1,000 each to five young OFO musicians who had contributed significantly to the orchestra. The recipients were chosen by Peter Ash, the orchestra’s Artistic Director, and Gillian Tarlton, OFO’s Orchestral Manager.
GMT’s key individual donors also continued to support the charity, enabling OFO to commit to hall and rehearsal room hire through 2026. Thanks to continued support from Dame Felicity Dahl, the orchestra was also able to continue to offer its young players a stipend of £100 per concert for the orchestra’s three annual projects. This stipend encouraged many more young players to audition and helped increase the orchestra’s membership pool to over 200.
The orchestra’s community outreach programme in London state schools, which provides in-school workshops with young players from OFO, as well as free concert tickets and refreshments, expanded to reach almost 400 school children over the year, thanks to support from The Lennox Hannay Charitable Trust and The Newcomen Collett Foundation.
During 2025 the charity received income from donations (including Gift Aid) of £148,851. Over the same period, it made grants to OFO of £140,500. A further £5,000 was awarded to the individual recipients of the bursaries funded by The Sir Thomas Beecham Trust. Approximately £45,000 of these OFO remittances were used to pay rehearsal and performance venue hire costs, £35,000 to pay tutor and artist costs, £22,000 towards orchestral stipends, £15,000 towards the education programme, with the remainder going towards administration costs, fundraising, marketing, subsistence and development.
The balance of donations received after the outlays for these three concerts (£186,556) is restricted to underwriting further OFO concerts. At the end of the financial year ending 31 December 2025, the breakdown for 2026 expenditure is anticipated to be: c. £10,000 towards final costs of the January 2026 concert; £60,000 for April 2026 (Cadogan Hall), £70,000 for September 2026 (Cadogan Hall) and c. £40,000 towards the orchestra’s January 2027 concert.
## **b. Fundraising activities and income generation**
Income was generated in the year from donations made by individual supporters of Odyssey Festival Orchestra and by charitable trusts and foundations.
## **c. Duty to promote the success of the charity to achieve its charitable purposes**
The trustees act in a way to promote the success of The Grasshopper Music Trust in delivering the charity’s
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**THE GRASSHOPPER MUSIC TRUST**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Strategic report (continued)**
aims for the public benefit. Conducting activities on a strictly ethical basis, with due regard to the interests of other stakeholders and the wider community, is fundamental to ensuring the support the charity provides to its beneficiaries.
## **Financial review**
## **a. Going concern**
After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
## **b. Reserves policy**
The charity operates with no fixed costs or other ongoing obligations and all fundraised income is currently restricted to Odyssey Festival Orchestra. However the trustees have decided it would be prudent to maintain at any time sufficient funds to underwrite the next two OFO concerts. Currently this equates to about £140,000, but this sum will be reviewed annually.
## **c. Principal risks and uncertainties**
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate exposure to those major risks.
## **d. Financial review**
During the year ended 31 December 2025 the charity received donations from individuals of £54,634, plus Gift Aid of £12,570, £13,500 from Arts Council England and donations from trusts and foundations of £68,147. The donations were received in the form of cash.
At 31 December 2025 the charity had cash at bank and in hand of £186,556.
## **Structure, governance and management**
## **a. Constitution**
The Grasshopper Music Trust was registered with the Charity Commission on 15 October 2021, registered number 1196165, and is governed by its constitution dated 11 October 2021.
## **b. Method of appointment or election of trustees**
Future trustees will be appointed by existing trustees for such term as they shall see fit, either to fill a vacancy or as an additional trustee. At any one time there may be no fewer than 3 trustees.
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**THE GRASSHOPPER MUSIC TRUST**
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Plans for future periods**
The charity is pleased to report that programmes and venues are now finalised and secured for all three concerts in the 2026-27 season and plans are being made for 2027-28. It is hoped that the OFO may be able to repeat at least one of its concerts outside London. The orchestra’s educational outreach programme also has ambitious plans to expand and develop deeper relationships with the schools currently involved in the programme.
## **Streamlined Energy and Carbon Reporting (SECR)**
The charity has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the trustees' report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity SORP requires the trustees to prepare financial statements for each financial period that give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources 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 judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material
- departures 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 accounting records that disclose with reasonable accuracy at any time the financial position of the charity. 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 order of the members of the board of trustees and signed on their behalf by:
Donald Sturrock Trustee Date: 17[th] April 2026
5
**THE GRASSHOPPER MUSIC TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE GRASSHOPPER MUSIC TRUST**
I report to the trustees on my examination of the financial statements of The Grasshopper Music Trust (“the charity”) for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the Requirements of the Charities Act 2011 (“the Act’).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 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**
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 charity as required by section 130 of the Act; or
2. The financial statements do not accord with those records; or
3. The financial statements 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 to enable a proper understanding of the financial statements to be reached.
Signed:
Name: H.M. Veglio, FCA Address: 1 Hogarth Way, TW12 2EL
Date: 17 April 2026
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## **THE GRASSHOPPER MUSIC TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2025**
|||**Restricted**|**and Total Funds**|
|---|---|---|---|
|||**Year ended**|**Year ended**|
|||**31 December**|**31 December**|
|||**2025**|**2024**|
||**Note**|**£**|**£**|
|**Income from:**||||
|Donations|3|**136,281**|**223,935**|
|Gift Aid||**12,570**|**10,407**|
|Bank Interest||**1,693**|**-**|
|**Total income**||**150,544**|
**234.342**|
|**Expenditure on:**||||
|Charitable activities|5|**146,840**|**123,060**|
|**Total expenditure**||**146,840**|**123,060**|
|**Net income**||**3,704**|
**111,282**|
|**Net movement in funds**||**3,704**|
**111,282**|
|**Reconciliation of funds:**||||
|Total funds brought forward||**182,852**|**71,570**|
|Net movement in funds||**3,704**|**111,282**|
|**Total funds carried forward**||**186,556**|**182,852**|
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9-11 form part of these financial statements.
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## **THE GRASSHOPPER MUSIC TRUST**
## **BALANCE SHEET As at 31 December 2025**
|**Note**
Cash at bank and in hand
Net current assets
**Total assets less current liabilities**
**Net assets**
**Total net assets**
Restricted funds
9
**Total funds**|**2025 2024**
**£ £**
**186,556 182,852**
**186,556** **182,852**|
|---|---|
||**186,556** **182,852**|
||**186,556** **182,852**|
||**186,556 182,852**|
||**186,556 182,852**|
||**186,556 182,852**|
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
**Donald Sturrock** Trustee
Date: 17 April 2026
The notes on pages 9-11 form part of these financial statements
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**THE GRASSHOPPER MUSIC TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2025**
## **1. General information**
The Grasshopper Music Trust is a charitable incorporated organisation, registered with the Charity Commission.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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 October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Grasshopper Music Trust meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The principal accounting policies for the charitable company are set out below.
## **2.2 Going concern**
After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the forseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Where the donated good is a fixed asset, it is measured at fair value. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and accounted for in accordance with the charity's accounting policies.
Investment income is recognised when receivable and the amount can be reliably measured.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is inclusive of irrecoverable VAT.
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**THE GRASSHOPPER MUSIC TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2025**
## **2. Accounting policies (continued)**
## **2.5 Investments**
Current asset investments are a form of financial instrument and are initially recognised at the fair value of the investments donated and subsequently measured at fair value at the balance sheet date. Investment gains and losses, whether realised or unrealised, are combined and presented as “gains/(losses) on investments” in the statement of financial activities.
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount.
## **2.7 Cash at bank and in hand**
Cash at bank and 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.
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are those donated for and only available for expenditure on specific projects.
## **3. Income from donations**
All donations received in the year were for restricted purposes.
## **4. Investment income**
No investment income other than interest on bank deposits was received in the year.
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**THE GRASSHOPPER MUSIC TRUST**
**NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2025**
## **5. Analysis of expenditure on charitable activities**
## **Restricted Funds**
|**2025**|**2024**|
|---|---|
|**£**|**£**|
|Odyssey Festival Orchestra 140,500|115,000|
|Bursaries to young OFO musicians 5,000|6,000|
|CAF and other collection fees and bank charges 1,340|1,639|
|Trustee Subsistence -|421|
|_______________________||
|**Total Costs**
**146,840**|**123,060**|
## **6. Debtors**
There were no debtors as at 31 December 2025 or 2024.
## **7. Current asset investments**
There were no current asset investments as at 31 December 2025 or 2024.
## **8. Creditors: amounts falling due within one year**
There were no creditors as at 31 December 2025 or 2024.
## **9. Statement of funds**
All funds received and expended in the year were for restricted purposes.
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