Charity registration number 207324
The Delius Trust
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
for the year ended
31st December 2024

The Dellus Trust
Report and Financlal Statements
Year ended 31st December 2024
Contents
Page
Legal & Administrative Information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the financlal statements
11-16
Annexe- grants awarded, grants outstanding
17-18

The Delius Trust
Legal & Admlnlstratlve Informatlon
TRUSTEES
Musicians Benevolent Fund (Help Musicians UK) (Representative: Mr John Axon)
Mr Martin Williams FSA
Mr Paul Guinery
ADVISERS
Professor Daniel Grimley
Mr Stephen Lloyd
Mr Robert Montgomery
SECRETARY
Ms Helen Faulkner
PRINCIPAL OFFICE
13 Calico Row, Plantation Wharf, London SWII 3YH
Email: deliustrust@deliustrust.org.uk
Web: www.delius.org.uk
INDEPENDENT EXAMINER
Jane Askew FCA
Haysmac LLP, 10 Queen Street Place, London EC4R IAG
BANKERS
HSBC Bank plc, City of London Commercial Centre,
60 Queen Victoria Street. London EC4N 4TR

The Delius Trust
Report of the Trustees
Year ended 315t December 2024
The Trustees present their Annual Report together with the Flnancial Statements of the Trust for
the year ended 31 December 2024.
The financial statements comply with the Charities Act 2011 and the 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).
Structure, Governance and Management
The Trust was established by the Will of Madame Jelka Delius who died on 28 May 1935, Its
Constitutlon was varied by a High Court Scheme in 1964 prlncipally by the settlng up of a panel of
three music advisers. In 1991, the Charity Commission approved a second Scheme which
consolidated the Trust's constitution in one document. This permitted the Trust to undertake
further activlties, particularly in the field of education; and to appoint a total of five advisers. In
1997, the Charity Commission approved a third Scheme in much the same terms but with
additional provisions, namely: (a) subject to prlority for the promotion of Delius's works, the
Trust's Object to include any other Britlsh composer born since 1860 to the present day wSth
partlcular preference for contemporarles of Delius; and Ib} the appointment of up to a total of
seven advlsers.
Durin8 the year the Trustees were:
Martin Williams
Paul Guinery
Musicians Benevolent Fund (now operating as Help Musicians UK)
Durlng the year Help Musicians UK was represented by John Axon, a former Trustee of HMUK.
The Trustees are responsible for the administration and management of the Trust. They are
assisted by the panel of Advisers. The Trustees and Advisers together held three meetings during
the year under review.
The Trustees keep the skills and experience required on the Trustee body under review. Trust
policy and guidelines can be found on the Delius website www.delius.org.uk. From 1965 the
Trust's archives were in the care of the Honorary Archivist, Lionel Carley, who died in late 2021.
The archive is now managed by Helen Faulkner who, in 2022, concentrated particularly on
incorporating many of Lionel Carle¢s papers and ephemera into the Trust's collection with the
assistance of Katharine Hog& Librarian of the Gerald Coke Handel Collection. This work has
conttnued and use of the archive, particularly the collections of letters and images, has increased
noticeably in the last two years.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 20Z4
Objertlves and Activltles
The Object of the Trust is to promote the works of the composer, Frederick Delius, and subject
thereto the works of any other composer born or at any time permanently resident in Great
Britain or Ireland from 1860 to the present day with a preference for contemporaries of Delius,
by:
l) recordlngs of every description whether mechanical, electrical or electronic;
2) the publication and issue .
. of ... all or any part of the complete works;
3) the financing and promotion . of public concerts and recitals;
4) the purchase of letters and manuscripts for the Trust's archives. and memorabilia and
ephemera relating to Delius's life; and
5} preserving and making available to the publlc, and improving and diffusing knowledge, of
Delius's life and works.
The Trust's Income is applied as follows:
a) by encouraging publishers to update parts and scores to agree with the Collected Edition
and maintaining unmarked parts for use if required;
b) by encouraging the availability of historical recordings and sponsoring those representin8 a
new generation of interpreters;
c) by acqulrlng secondary archlve material and depositing the remalning prlmary archive wlth
d) by financing performances of unusual or major works in the UK and encouraging more
performances In other countries, partlcularly those where the copyright continues to run.
Trustees have defined Sn detail how they would fulfil the secondary Object, i.e., the promotion of
works by British composers born from 1860 onwards. They decided that in this area they would
not, as a rule, support the works of individual composers but would consider applications from
organisations the objects of which include the promotion of this area of repertoire.
Actlvltles and Future Plans
The Trustees are particularly pleased to be able to support a new production of The Magic
Fountain which will take place at Wexford Opera Festival in October 2025, the third opera by
Delius to be staged there. They have also ensured that the music of Delius is represented within
Bradford 2025 UK City of Culture by making 2 grants for events in the city of his birth.
As part of its extended object, the Trust continued to support the Royal Philharmonic Society's
annual young composers scheme and the core costs of NMC, a registered charity, which issues
recordings of new British music.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
Activltles and Future Plans (contlnued)
The Trust maintains an extensive archive of material relating to Delius, including scores, letters,
irnages, concert programmes and other ephemera. It holds a library of books, journals, theses
and recordings in a variety of formats and has started to explore options for digitising appropriate
parts of the collection to improve access for researchers. During the year, researchers have again
been able to use the collection in person or by remote access.
Publlc Beneflt
The Trustees have referred to the Charity Commission guidance on public benefit and believe that
the Trust's activities as outlined in this report contributed to public benefit specifically by the
advancement of education in the arts (particularly muslc), culture, heritage and science.
Financlal Revlew
There are no restricted or endowment funds. The Trust carries out no ongoing fund-raising
activlty. Followin8 the lapse of the majority of Delius's copyrights, the Trust's income from this
source has continued to decline and its income derives mainly from investments purchased from
the accumulated income of earlier years.
In the year ended 31 December 2024 the Trust's income amounted to £96,851 (2023: £103,406)
and net expendlture was £261,069 (2023: £142,557). In 2024 the Trust awarded grants of
£217,534 {2023: £81,638).
There were unrealised gains on the investment portfolio of £222,716 (2023: £104,695). The
outturn for the year was a net inflow of funds of £58,498 (2023: £65,544). The total resources
available to the Trustees at the year-end were £2.97 million12023: £2.91 million).
For over 40 years the Musicians Benevolent Fund (now operating as Help Musicians UK), a
Trustee, provided accommodation at no charge to the Trust, They ceased this arrangement In
2016, mitigating the financial effect to the Trust in 2016-18 by making a grant towards the cost of
renting an office. This ceased in 2019 and since then the Trust has met the full cost of its
accommodation. The Trust off ice is shared with the Vaughan Williams Foundation to which it
reimburses a share of the offlce expenses at cost.
Investment Pollcy
The Trustees aim to preserve a balance between achieving growth in the Trust's investments and
producing income adequate to maintain the desired level of 8rant-making. When necessary,
investment units designed for growth will be sold to provide income above the level produced by
income units. During 2025 we shall undertake a detailed review of the Trust's investment policy
and the investments to support this.

The Delius Trust
Report of the Trustee5 (contlnued)
Year ended 31st December 2024
Reserves Policy
The Trust's accumulated reserves are invested mainly in common investment funds Icollective
vehicles designed specifically for charities) managed by Cazenove (Schroder) and by Newton, a
subsidiary of The Bank of New York Mellon Corporation. Two investments {in property common
investment funds, also deslgned expressly for charities) totalling £88,929 (2023: £89,112), are
managed directly by the Trustees.
The level of grant-making is essentially demand-led and can vary considerably from year to year.
The Trustees do not have a specific target for the level of reserves and are happy to reduce this
when it is appropriate to do so. They have a policy of keeping sufficient cash holdings to cover
short to medium term commitments.
Fundralsln8
Since the Trust's income is derived from performing rights of Frederick Delius's compositions and
investment income, it does not undertake fundraising activlties; it is nevertheless mindful of the
Code issued by the Fundraising Regulator.
Copyrlght
Although In the main copyright In Dellus's composition5 published durlng hls Ilfetime expired on
31 December 2004, the situation Is compllcated by the protectlon accorded to posthumous
publications, copyright extensions for war years in France and Italy, and the position in the USA, In
order to clarify the position, the Trust has published a detailed summary on the Delius website at
www.delius.org.uk.
Grants
The grants made rnay be grouped under the following headings and more details of them is
shown in Annexes l and 2 at the end of the accounts accompanying this report.
2024
2023
Performances
Books and manuscripts
Extended objects
Publications
Grants written back
217,654
14,907
2,500
209
117,736)
74,786
6,000
852
217.534
81,638
Grants written back relate to projects Postponed and subsequently cancelled as a result of the
COVID-19 pandemic.

The Dellus Trust
Report of the Trustees (contlnued)
Year ended 31st December 2024
Heritage Assets
The Trustees have accumulated a collection of books, pamphlets, manuscripts, photographs,
paintings and other items connected with Frederick Delius and his contemporaries. The Trustees
consider that the maintenance of such a collection is an integral part of their primary objective
and that a formal valuation would not be a good use of charity resources. The collection is
available for study (by prior arrangement with the Secretary), and from time to time items are
loaned to museums, art galleries and similar organisations for public displav.
Rlsk Management
The major risks to which the charity Is exposed, as identified by the Trustees, have been reviewed
and systems have been established to mitigate those risks. Robust banking and other financial
procedures are in place and grants are closely monitored to manage the main risk of
misappropriation of the charity's funds.
As noted below, these accounts are approved durlng a period of uncertainty for both Inflow and
outflow of funds. However, through appropriate consideration of risks as part of its normal risk
management process, the Trustees consider it appropriate for the going concern basis to be
adopted, as In previous years, for these accounts.
Golng Concern
Only a few works by Dellus remain in copyrlght so this is no longer a significant element of the
Trust's incorne. Investment income held up well. The Trustees are confident that they have
sufficient cash holdings to enable grants to be paid during 2025 and In subsequent years without
the need for the unplanned sale of 5nve5tments.
Vote of Thanks
The Trustees would like to record their thanks to the Trust's advisors and to its Secretary, Helen
Faulkner for all that she has done durlng the year to further the name of Delius and his works on
behalf of the Trust.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
ststement of Trustees, Re5ponslblllties
The Trustees are required to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the Trust and of its surplus or deficit for that period. In
preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently,
make judgements and estimates that are reasonable and prudent.
observe the methods and principles in the Charities SORP,
state whether appllcable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements, and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Trust will continue in business.
The Trustees are responsible for keeplng proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Trust. The Trustees are also
responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
17
Approved by the Trustees on ..........,,,.,...............................,........,,.
. 2025
Tr(￿L
Paul Guinery
Trustee and Chairman
Martin B M Williams
Trustee

INDEPENDENT EXAMINER'S REPORT
to the Trustees of The Delius Trust
Year ended 315t December 2024
I report to the Trustees on my examination of the accounts of the Delius Trust (the Trust) for the
year ended 31 December 2024.
Responslbllltles and basls 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 2011 {'the Act,).
Having satisfied myself that the accounts of the Trust are not requlred to be audited under the
Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In
carrying out my examination I have followed the Directions given by the Charity Commission
under section 145(5) {bl of the 2011 Act.
Independent examlner's statement
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:
l. accounting records were not kept in respect of the Trust as required by section 130 of the
2. the accounts do not accord with those records; or
3, the accounts do not comply with the applicable requlrements concerning the form and
content of accounts set out in the Charitles {Accounts and Reports) Regulatlons 2008 other
than any requlrement that the accounts glve a 'true and fair vlew which is not a matter
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 preparln8 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.
4 July 2025
Signed............................................................................. Date.........................................
Jane Askew FCA
Haysmac LLP
10 Queen Street Place
London
EC4R IAG

The Delius Trust
Statement of Flnanclal Activitles (Including an Income and expendlture account)
Year ended 31st December 2024
Note
Unrestricted Unrestrlcted
2024
2023
Income from:
Charitable activitles:
Royalties and performlng right fees
Investments
5,324
91,527
12,184
91,222
Total Income
96,851
103,406
Expendlture on:
Charitable activities:
261,069
142,557
Total expendlture
261.069
142.557
Deflclt on ordlnary actlvltles
(164,218)
(39.151)
Gain on investment assets
222,716
104,695
Net movement In funds
58,498
65,544
Total funds brought forward
11
2,913,926
2,848,382
Total funds carrled forward
2,972,424
2,913,926
All transactions derive from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 11 to 18 form part of these financial statements.

The Dellus Trust
Balance Sheet
Year ended 31st December 2024
2024
2023
Note
Fixed assets
Investments
3,122,881
2,900.165
Current assets
Debtors
Bank balances
93,664
93,664
100,736
100,736
Current Ilabllltles
Creditors - amounts falling
due within one year
10
(244,121)
(86,975)
Net current assets
(150,457)
13,761
Total net assets
2,972.424
2,913.926
Unrestrlcted funds
11
2,972,424
2,913,926
These accounts were approved and authorised for issue by the Board of the Trustees
on
2025 and were signed below on its behalf by:
t4J¥UA
Paul Guinery
Trustee and Chairman
Martin Williams
Trustee
The notes on pages 11 to 18 form part of these financial statements.
10

The Dellus Trust
Notes to the financial statements
Year ended 31st December 2024
Accounting Pollcles
The principal accounting pollcies adopted, Judgements and key sources of estimation
uncertainty in the preparation of the financial statements are as follows:
General Informatlon and basls of preparation of accounts
The financial statements have been prepared in accordance with "Accounting and Reporting
by Charities: Statement of recommended practice applicable to the charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102)" (Effective l January 20191- (Charities SORP (FRS102), the
Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).
Delius Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value u nless otherwise
stated In the relevant accounting policy notels).
The flnancial statements are presented in UK Sterllng, which Is the Charity's functional
currency, and rounded to the nearest pound.
Golng concern
Only a few works by Delius remaln in copyright so this is no longer a significant element of
the trust's income. Investment income held up well. The trustees are confident that they
have sufficient cash holdings to enable grants to be paid during 2025 and in subsequent
years without the need for the unplanned sale of investments,
Fund accountln8
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are
available for use at the discretion of the Trustees In furtherance of the charitls general
charitable objectives.
Income
Income represents the total income recelvable during the year, comprising royalties,
performing right fees and Investment income. All income is recognised once the charity has
entitlement to the resources, it is probable that the resources will be received and the
monetary value of incoming resources can be measured with sufficient reliability.
Expendlture
Liabilities are recognised as resources expended as soon as there is a legal or constructive
obligation committing the charity to the expenditure. All expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the
category.
11

The Delius Trust
Notes to the financial statements (Continued)
Year ended 31st December 2024
Grants are included in the period of account when they are actually approved at a meeting
of the Trustees.
Charitable activity costs include costs associated with grant making, promotion of the works
of the composer and his contemporaries, research and archiving.
Support costs comprise services identifiable as wholly or mainly in support of charitable
purposes.
Governance costs
Governance costs comprise all costs Involving the public accountability of the charity and Its
compliance with regulation and good practice. These costs include independent
examlnatlon and legal fees.
Herltage assets
In accordance with the SORP depreciation has been allocated on all classe5 of tangible fixed
assets except those classifled as Heritage Assets.
Investments
Investments are shown in the financial statements at market value. Movements in the
market value of investments are shown as unrealised gains/losses in the Statement of
Financlal Actlvities.
Llab115t5es and provlslons
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 economlc 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. Provisions are
measured at the best estimate of the amounts required to settle the obllgation. Where the
effect of the time value of money is material, the provision is based on the present value of
those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability. The unwinding of the discount is recognised in the statement of financlal activities
as a finance cost.
12

The Delius Trust
Notes to the financial statements (contlnued>
Year ended 31st December 2024
Estimates and Judgements
Estimates and judgements are continually evaluated and are based on historical experience
and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. Although these estimates are based on the Trustee's best
knowledge of the amount, events or actions, actual results ultimately differ from these
estimates. The Trustees do not consider there to be any estimates and judgements.
Flnanclal Instrument
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments, Including trade and other debtors and
creditors are initially recognised at transaction value and subsequently rneasured at their
settlement value. The portfolio of investments held by the charity is included at fair vaSue.
2 Royaltles and performln8 rl8ht fees
2024
2023
Performing Right Society
Mechanical Copyright Protectlon Society
Boosey & Hawkes
Other royalties
988
39
2,216
2,081
1,216
183
8,330
2,455
5,324
12,184
3 Investment Income
2024
2023
Newton Investment Management
Cazenove {Schroders) Investment Management
Property funds
Interest on cash deposits
38,304
46,482
3,038
3,703
38,949
46,539
2,305
3,429
91.527
91,222
13

The Delius Trust
Notes to the financlal statements (continuedl
Year ended 31st December 2024
4 Charltable Actlvltles
2024
2023
Net grants awarded (note 51
Management & administration
Advisors, fees and expenses
Archivist's fees and expenses
Secretarial services
Office expenses
Website, advertising & promotion
Accountancy
Governance
Independent examiner's remuneration
Trustee expenses
Meeting expenses & hospitalitv
217,534
81,638
5.100
450
17,136
13,665
345
3,079
5,100
7,420
17,136
19,632
3,226
1,575
3,590
71
99
4,490
105
2,235
261,069
142,557
5 Grants and other payments made
In pursuance of the objects of the Trust
2024
2023
Publlcatlons
Performances
Books and manuscripts
Extended objects
Grant5 written back
209
217,654
14,907
2,500
(17,736)
852
74,786
6,000
217.534
81.638
Grants written back relate to projects postponed and subsequently cancelled as a result of
the COVID-19 pandemic.
A list of grants awarded is shown in the Annexe at the end of these accounts.
14

The Delius Trust
Notes to the flnancial statements (continued)
Year ended 31st December 2024
6 Trustees, remuneratlon and expense5
No remuneration was paid or is payable either directly or indirectly for the year to any
Trustee or to any person or persons known to be connected with any of them12023: £nil).
One Trustee was reimbursed £71 of travel expenses in respect of the year to 31 December
2024 (2023: one Trustee was reimbursed travel expenses of £105).
7 Related party transactlons
No Trustee or other person related to the charity had any personal interest in any contract
or transaction entered into by the charity during the year (2023: none), and there are no
balances outstanding with any related parties at the Balance sheet date {2023: none).
8 Investments
2024
2023
Market value at 1st January
Net gains / (losses) on revaluatlon
2,900,165
222,716
2,795,470
104,695
Market value at 31st December
3,122.881
2,900,165
Historical cost
1,540,590
1,540,590
Market value represented by:
Newton Investment Management
Cazenove ISchroder> Investment Management
Property Fund investments
1,790,371
1,243,581
88,929
1,671,295
1,139,758
89,112
3.122,881
2,900,165
9 Debtors
2024
2023
Other debtors
15

The Delius Trust
Notes to the flnanclal statements (continued)
Year ended 31st December 2024
10 Credltors: amounts falling due wlthln one year
2024
2023
Trade creditors
Accruals
Grants payable
3,081
4,540
236,500
5,499
6,290
75.186
244.121
86,975
Grants brought forward
Grants committed in the year
Grants paid in the year
75,186
235,270
(73,956)
79,150
81,638
{85,602)
Grants out5tandin8
236,500
75,186
A Ilst of grants outstanding Is shown In the Annexe at the end of these accounts.
11 Statement of funds
2024
Brought
forward
Income
Expenses
Transfers
& galns
Carrled
forward
Unrestricted funds
2,913,926
96,851
{261,0691
222,716
2,972,424
Total funds
2,913.926
96,851
{261,069)
222,716
2,972.424
2023
Brought
forward
Income
Expenses
Transfers
& 8alns
Carrfed
forward
Unrestricted funds
2,848,382
103,406
1142,557)
104,695
2,913,926
Total funds
2,848,382
103,406
(142,557)
104,695
2,913,926
All of the Charity's funds are general unrestricted funds, in both the current and prior year.
16

The Dellus Trust
Annexe- Grants Awarded and Outstanding
Year ended 31st December 2024
Grants Awarded
2024
2023
Performances and Recordlngs
Wexford Opera Festival
Mark Bebbington/lMG/St George's Hall
Bach Choir
Bradford2025
Carwithen Music Festival
English Music Festival
Croydon Symphony Orchestra
Madeleine Mitchell
Immersionz
Bogdan Skrypka
Hounslow Symphony Orchestra
Oxford Philharmonlc Orchestra
Lee Braceglrdle
Delius Societv
Britten Sinfonia
Self Isolation Choir
International Associatlon of Music Libraries
EM Records
Smorgaschord Festlval
Five Churches Festival
Southrepps Music Festlval
Epsom Symphony Orchestra
160,000
22,000
10,000
10,000
5,000
2,500
2,000
2.000
1,754
1,000
700
500
200
2,500
500
10,400
10,000
4,936
2,500
1,200
1,000
1,000
750
74,786
217.654
Extended Objects
English Music Festlval
Royal Philharmonic Societv
2,500
6,000
6,000
2,500
Books, Manuscrlpts, etc.
Boosey & Hawkes
Archive items from Colin Coleman
Schott Music GmbH
9,942
4,812
153
14.907
Publicatlons
Wega Verlag
209
209
852
852
17

The Delius Trust
Annexe- Grants Awarded and Outstandlng (continued)
Year ended 31st December 2024
Grants written back
2024
2023
Choir of the Earth / Self Isolation Choir (cleared in 2022)
International Association of Music Libraries
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Watford Symphony Orchestra
Banbury Symphony Orchestra
(10,000)
(2,936)
(2,000)
11,300)
11,000>
{500)
117,736)
Net grants awarded In the year
217,534
81,638
Grants Outstandlng
2024
2023
Perfomiances and Recordlngs
Wexford Opera Festival
Delius Societv
Mark Bebbington/lMG/St George's Hall
Dutton Epoch
The Bach Choir
Carwithen Muslc Festlval
Croydon Symphony Orchestra
Delius Society- joint website & promotion
NMC Recordings
Self Isolation Choir
Internatlonal Association of Music Librarles
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Smorgaschord Festival
Watford Symphony Orchestra
Epsom Symphony Orchestra
Banbury Symphony Orchestra
160,000
24,000
22,000
12,000
10,o(x)
5,000
2,000
1,500
32,000
12,000
1,500
10,000
10,000
2,936
2,000
1,300
1,200
1,000
750
500
75.186
236,500
18

Charity registration number 207324
The Delius Trust
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
for the year ended
31st December 2024

The Dellus Trust
Report and Financlal Statements
Year ended 31st December 2024
Contents
Page
Legal & Administrative Information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the financlal statements
11-16
Annexe- grants awarded, grants outstanding
17-18

The Delius Trust
Legal & Admlnlstratlve Informatlon
TRUSTEES
Musicians Benevolent Fund (Help Musicians UK) (Representative: Mr John Axon)
Mr Martin Williams FSA
Mr Paul Guinery
ADVISERS
Professor Daniel Grimley
Mr Stephen Lloyd
Mr Robert Montgomery
SECRETARY
Ms Helen Faulkner
PRINCIPAL OFFICE
13 Calico Row, Plantation Wharf, London SWII 3YH
Email: deliustrust@deliustrust.org.uk
Web: www.delius.org.uk
INDEPENDENT EXAMINER
Jane Askew FCA
Haysmac LLP, 10 Queen Street Place, London EC4R IAG
BANKERS
HSBC Bank plc, City of London Commercial Centre,
60 Queen Victoria Street. London EC4N 4TR

The Delius Trust
Report of the Trustees
Year ended 315t December 2024
The Trustees present their Annual Report together with the Flnancial Statements of the Trust for
the year ended 31 December 2024.
The financial statements comply with the Charities Act 2011 and the 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).
Structure, Governance and Management
The Trust was established by the Will of Madame Jelka Delius who died on 28 May 1935, Its
Constitutlon was varied by a High Court Scheme in 1964 prlncipally by the settlng up of a panel of
three music advisers. In 1991, the Charity Commission approved a second Scheme which
consolidated the Trust's constitution in one document. This permitted the Trust to undertake
further activlties, particularly in the field of education; and to appoint a total of five advisers. In
1997, the Charity Commission approved a third Scheme in much the same terms but with
additional provisions, namely: (a) subject to prlority for the promotion of Delius's works, the
Trust's Object to include any other Britlsh composer born since 1860 to the present day wSth
partlcular preference for contemporarles of Delius; and Ib} the appointment of up to a total of
seven advlsers.
Durin8 the year the Trustees were:
Martin Williams
Paul Guinery
Musicians Benevolent Fund (now operating as Help Musicians UK)
Durlng the year Help Musicians UK was represented by John Axon, a former Trustee of HMUK.
The Trustees are responsible for the administration and management of the Trust. They are
assisted by the panel of Advisers. The Trustees and Advisers together held three meetings during
the year under review.
The Trustees keep the skills and experience required on the Trustee body under review. Trust
policy and guidelines can be found on the Delius website www.delius.org.uk. From 1965 the
Trust's archives were in the care of the Honorary Archivist, Lionel Carley, who died in late 2021.
The archive is now managed by Helen Faulkner who, in 2022, concentrated particularly on
incorporating many of Lionel Carle¢s papers and ephemera into the Trust's collection with the
assistance of Katharine Hog& Librarian of the Gerald Coke Handel Collection. This work has
conttnued and use of the archive, particularly the collections of letters and images, has increased
noticeably in the last two years.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 20Z4
Objertlves and Activltles
The Object of the Trust is to promote the works of the composer, Frederick Delius, and subject
thereto the works of any other composer born or at any time permanently resident in Great
Britain or Ireland from 1860 to the present day with a preference for contemporaries of Delius,
by:
l) recordlngs of every description whether mechanical, electrical or electronic;
2) the publication and issue .
. of ... all or any part of the complete works;
3) the financing and promotion . of public concerts and recitals;
4) the purchase of letters and manuscripts for the Trust's archives. and memorabilia and
ephemera relating to Delius's life; and
5} preserving and making available to the publlc, and improving and diffusing knowledge, of
Delius's life and works.
The Trust's Income is applied as follows:
a) by encouraging publishers to update parts and scores to agree with the Collected Edition
and maintaining unmarked parts for use if required;
b) by encouraging the availability of historical recordings and sponsoring those representin8 a
new generation of interpreters;
c) by acqulrlng secondary archlve material and depositing the remalning prlmary archive wlth
d) by financing performances of unusual or major works in the UK and encouraging more
performances In other countries, partlcularly those where the copyright continues to run.
Trustees have defined Sn detail how they would fulfil the secondary Object, i.e., the promotion of
works by British composers born from 1860 onwards. They decided that in this area they would
not, as a rule, support the works of individual composers but would consider applications from
organisations the objects of which include the promotion of this area of repertoire.
Actlvltles and Future Plans
The Trustees are particularly pleased to be able to support a new production of The Magic
Fountain which will take place at Wexford Opera Festival in October 2025, the third opera by
Delius to be staged there. They have also ensured that the music of Delius is represented within
Bradford 2025 UK City of Culture by making 2 grants for events in the city of his birth.
As part of its extended object, the Trust continued to support the Royal Philharmonic Society's
annual young composers scheme and the core costs of NMC, a registered charity, which issues
recordings of new British music.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
Activltles and Future Plans (contlnued)
The Trust maintains an extensive archive of material relating to Delius, including scores, letters,
irnages, concert programmes and other ephemera. It holds a library of books, journals, theses
and recordings in a variety of formats and has started to explore options for digitising appropriate
parts of the collection to improve access for researchers. During the year, researchers have again
been able to use the collection in person or by remote access.
Publlc Beneflt
The Trustees have referred to the Charity Commission guidance on public benefit and believe that
the Trust's activities as outlined in this report contributed to public benefit specifically by the
advancement of education in the arts (particularly muslc), culture, heritage and science.
Financlal Revlew
There are no restricted or endowment funds. The Trust carries out no ongoing fund-raising
activlty. Followin8 the lapse of the majority of Delius's copyrights, the Trust's income from this
source has continued to decline and its income derives mainly from investments purchased from
the accumulated income of earlier years.
In the year ended 31 December 2024 the Trust's income amounted to £96,851 (2023: £103,406)
and net expendlture was £261,069 (2023: £142,557). In 2024 the Trust awarded grants of
£217,534 {2023: £81,638).
There were unrealised gains on the investment portfolio of £222,716 (2023: £104,695). The
outturn for the year was a net inflow of funds of £58,498 (2023: £65,544). The total resources
available to the Trustees at the year-end were £2.97 million12023: £2.91 million).
For over 40 years the Musicians Benevolent Fund (now operating as Help Musicians UK), a
Trustee, provided accommodation at no charge to the Trust, They ceased this arrangement In
2016, mitigating the financial effect to the Trust in 2016-18 by making a grant towards the cost of
renting an office. This ceased in 2019 and since then the Trust has met the full cost of its
accommodation. The Trust off ice is shared with the Vaughan Williams Foundation to which it
reimburses a share of the offlce expenses at cost.
Investment Pollcy
The Trustees aim to preserve a balance between achieving growth in the Trust's investments and
producing income adequate to maintain the desired level of 8rant-making. When necessary,
investment units designed for growth will be sold to provide income above the level produced by
income units. During 2025 we shall undertake a detailed review of the Trust's investment policy
and the investments to support this.

The Delius Trust
Report of the Trustee5 (contlnued)
Year ended 31st December 2024
Reserves Policy
The Trust's accumulated reserves are invested mainly in common investment funds Icollective
vehicles designed specifically for charities) managed by Cazenove (Schroder) and by Newton, a
subsidiary of The Bank of New York Mellon Corporation. Two investments {in property common
investment funds, also deslgned expressly for charities) totalling £88,929 (2023: £89,112), are
managed directly by the Trustees.
The level of grant-making is essentially demand-led and can vary considerably from year to year.
The Trustees do not have a specific target for the level of reserves and are happy to reduce this
when it is appropriate to do so. They have a policy of keeping sufficient cash holdings to cover
short to medium term commitments.
Fundralsln8
Since the Trust's income is derived from performing rights of Frederick Delius's compositions and
investment income, it does not undertake fundraising activlties; it is nevertheless mindful of the
Code issued by the Fundraising Regulator.
Copyrlght
Although In the main copyright In Dellus's composition5 published durlng hls Ilfetime expired on
31 December 2004, the situation Is compllcated by the protectlon accorded to posthumous
publications, copyright extensions for war years in France and Italy, and the position in the USA, In
order to clarify the position, the Trust has published a detailed summary on the Delius website at
www.delius.org.uk.
Grants
The grants made rnay be grouped under the following headings and more details of them is
shown in Annexes l and 2 at the end of the accounts accompanying this report.
2024
2023
Performances
Books and manuscripts
Extended objects
Publications
Grants written back
217,654
14,907
2,500
209
117,736)
74,786
6,000
852
217.534
81,638
Grants written back relate to projects Postponed and subsequently cancelled as a result of the
COVID-19 pandemic.

The Dellus Trust
Report of the Trustees (contlnued)
Year ended 31st December 2024
Heritage Assets
The Trustees have accumulated a collection of books, pamphlets, manuscripts, photographs,
paintings and other items connected with Frederick Delius and his contemporaries. The Trustees
consider that the maintenance of such a collection is an integral part of their primary objective
and that a formal valuation would not be a good use of charity resources. The collection is
available for study (by prior arrangement with the Secretary), and from time to time items are
loaned to museums, art galleries and similar organisations for public displav.
Rlsk Management
The major risks to which the charity Is exposed, as identified by the Trustees, have been reviewed
and systems have been established to mitigate those risks. Robust banking and other financial
procedures are in place and grants are closely monitored to manage the main risk of
misappropriation of the charity's funds.
As noted below, these accounts are approved durlng a period of uncertainty for both Inflow and
outflow of funds. However, through appropriate consideration of risks as part of its normal risk
management process, the Trustees consider it appropriate for the going concern basis to be
adopted, as In previous years, for these accounts.
Golng Concern
Only a few works by Dellus remain in copyrlght so this is no longer a significant element of the
Trust's incorne. Investment income held up well. The Trustees are confident that they have
sufficient cash holdings to enable grants to be paid during 2025 and In subsequent years without
the need for the unplanned sale of 5nve5tments.
Vote of Thanks
The Trustees would like to record their thanks to the Trust's advisors and to its Secretary, Helen
Faulkner for all that she has done durlng the year to further the name of Delius and his works on
behalf of the Trust.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
ststement of Trustees, Re5ponslblllties
The Trustees are required to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the Trust and of its surplus or deficit for that period. In
preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently,
make judgements and estimates that are reasonable and prudent.
observe the methods and principles in the Charities SORP,
state whether appllcable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements, and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Trust will continue in business.
The Trustees are responsible for keeplng proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Trust. The Trustees are also
responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
17
Approved by the Trustees on ..........,,,.,...............................,........,,.
. 2025
Tr(￿L
Paul Guinery
Trustee and Chairman
Martin B M Williams
Trustee

INDEPENDENT EXAMINER'S REPORT
to the Trustees of The Delius Trust
Year ended 315t December 2024
I report to the Trustees on my examination of the accounts of the Delius Trust (the Trust) for the
year ended 31 December 2024.
Responslbllltles and basls 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 2011 {'the Act,).
Having satisfied myself that the accounts of the Trust are not requlred to be audited under the
Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In
carrying out my examination I have followed the Directions given by the Charity Commission
under section 145(5) {bl of the 2011 Act.
Independent examlner's statement
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:
l. accounting records were not kept in respect of the Trust as required by section 130 of the
2. the accounts do not accord with those records; or
3, the accounts do not comply with the applicable requlrements concerning the form and
content of accounts set out in the Charitles {Accounts and Reports) Regulatlons 2008 other
than any requlrement that the accounts glve a 'true and fair vlew which is not a matter
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 preparln8 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.
4 July 2025
Signed............................................................................. Date.........................................
Jane Askew FCA
Haysmac LLP
10 Queen Street Place
London
EC4R IAG

The Delius Trust
Statement of Flnanclal Activitles (Including an Income and expendlture account)
Year ended 31st December 2024
Note
Unrestricted Unrestrlcted
2024
2023
Income from:
Charitable activitles:
Royalties and performlng right fees
Investments
5,324
91,527
12,184
91,222
Total Income
96,851
103,406
Expendlture on:
Charitable activities:
261,069
142,557
Total expendlture
261.069
142.557
Deflclt on ordlnary actlvltles
(164,218)
(39.151)
Gain on investment assets
222,716
104,695
Net movement In funds
58,498
65,544
Total funds brought forward
11
2,913,926
2,848,382
Total funds carrled forward
2,972,424
2,913,926
All transactions derive from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 11 to 18 form part of these financial statements.

The Dellus Trust
Balance Sheet
Year ended 31st December 2024
2024
2023
Note
Fixed assets
Investments
3,122,881
2,900.165
Current assets
Debtors
Bank balances
93,664
93,664
100,736
100,736
Current Ilabllltles
Creditors - amounts falling
due within one year
10
(244,121)
(86,975)
Net current assets
(150,457)
13,761
Total net assets
2,972.424
2,913.926
Unrestrlcted funds
11
2,972,424
2,913,926
These accounts were approved and authorised for issue by the Board of the Trustees
on
2025 and were signed below on its behalf by:
t4J¥UA
Paul Guinery
Trustee and Chairman
Martin Williams
Trustee
The notes on pages 11 to 18 form part of these financial statements.
10

The Dellus Trust
Notes to the financial statements
Year ended 31st December 2024
Accounting Pollcles
The principal accounting pollcies adopted, Judgements and key sources of estimation
uncertainty in the preparation of the financial statements are as follows:
General Informatlon and basls of preparation of accounts
The financial statements have been prepared in accordance with "Accounting and Reporting
by Charities: Statement of recommended practice applicable to the charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102)" (Effective l January 20191- (Charities SORP (FRS102), the
Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).
Delius Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value u nless otherwise
stated In the relevant accounting policy notels).
The flnancial statements are presented in UK Sterllng, which Is the Charity's functional
currency, and rounded to the nearest pound.
Golng concern
Only a few works by Delius remaln in copyright so this is no longer a significant element of
the trust's income. Investment income held up well. The trustees are confident that they
have sufficient cash holdings to enable grants to be paid during 2025 and in subsequent
years without the need for the unplanned sale of investments,
Fund accountln8
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are
available for use at the discretion of the Trustees In furtherance of the charitls general
charitable objectives.
Income
Income represents the total income recelvable during the year, comprising royalties,
performing right fees and Investment income. All income is recognised once the charity has
entitlement to the resources, it is probable that the resources will be received and the
monetary value of incoming resources can be measured with sufficient reliability.
Expendlture
Liabilities are recognised as resources expended as soon as there is a legal or constructive
obligation committing the charity to the expenditure. All expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the
category.
11

The Delius Trust
Notes to the financial statements (Continued)
Year ended 31st December 2024
Grants are included in the period of account when they are actually approved at a meeting
of the Trustees.
Charitable activity costs include costs associated with grant making, promotion of the works
of the composer and his contemporaries, research and archiving.
Support costs comprise services identifiable as wholly or mainly in support of charitable
purposes.
Governance costs
Governance costs comprise all costs Involving the public accountability of the charity and Its
compliance with regulation and good practice. These costs include independent
examlnatlon and legal fees.
Herltage assets
In accordance with the SORP depreciation has been allocated on all classe5 of tangible fixed
assets except those classifled as Heritage Assets.
Investments
Investments are shown in the financial statements at market value. Movements in the
market value of investments are shown as unrealised gains/losses in the Statement of
Financlal Actlvities.
Llab115t5es and provlslons
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 economlc 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. Provisions are
measured at the best estimate of the amounts required to settle the obllgation. Where the
effect of the time value of money is material, the provision is based on the present value of
those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability. The unwinding of the discount is recognised in the statement of financlal activities
as a finance cost.
12

The Delius Trust
Notes to the financial statements (contlnued>
Year ended 31st December 2024
Estimates and Judgements
Estimates and judgements are continually evaluated and are based on historical experience
and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. Although these estimates are based on the Trustee's best
knowledge of the amount, events or actions, actual results ultimately differ from these
estimates. The Trustees do not consider there to be any estimates and judgements.
Flnanclal Instrument
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments, Including trade and other debtors and
creditors are initially recognised at transaction value and subsequently rneasured at their
settlement value. The portfolio of investments held by the charity is included at fair vaSue.
2 Royaltles and performln8 rl8ht fees
2024
2023
Performing Right Society
Mechanical Copyright Protectlon Society
Boosey & Hawkes
Other royalties
988
39
2,216
2,081
1,216
183
8,330
2,455
5,324
12,184
3 Investment Income
2024
2023
Newton Investment Management
Cazenove {Schroders) Investment Management
Property funds
Interest on cash deposits
38,304
46,482
3,038
3,703
38,949
46,539
2,305
3,429
91.527
91,222
13

The Delius Trust
Notes to the financlal statements (continuedl
Year ended 31st December 2024
4 Charltable Actlvltles
2024
2023
Net grants awarded (note 51
Management & administration
Advisors, fees and expenses
Archivist's fees and expenses
Secretarial services
Office expenses
Website, advertising & promotion
Accountancy
Governance
Independent examiner's remuneration
Trustee expenses
Meeting expenses & hospitalitv
217,534
81,638
5.100
450
17,136
13,665
345
3,079
5,100
7,420
17,136
19,632
3,226
1,575
3,590
71
99
4,490
105
2,235
261,069
142,557
5 Grants and other payments made
In pursuance of the objects of the Trust
2024
2023
Publlcatlons
Performances
Books and manuscripts
Extended objects
Grant5 written back
209
217,654
14,907
2,500
(17,736)
852
74,786
6,000
217.534
81.638
Grants written back relate to projects postponed and subsequently cancelled as a result of
the COVID-19 pandemic.
A list of grants awarded is shown in the Annexe at the end of these accounts.
14

The Delius Trust
Notes to the flnancial statements (continued)
Year ended 31st December 2024
6 Trustees, remuneratlon and expense5
No remuneration was paid or is payable either directly or indirectly for the year to any
Trustee or to any person or persons known to be connected with any of them12023: £nil).
One Trustee was reimbursed £71 of travel expenses in respect of the year to 31 December
2024 (2023: one Trustee was reimbursed travel expenses of £105).
7 Related party transactlons
No Trustee or other person related to the charity had any personal interest in any contract
or transaction entered into by the charity during the year (2023: none), and there are no
balances outstanding with any related parties at the Balance sheet date {2023: none).
8 Investments
2024
2023
Market value at 1st January
Net gains / (losses) on revaluatlon
2,900,165
222,716
2,795,470
104,695
Market value at 31st December
3,122.881
2,900,165
Historical cost
1,540,590
1,540,590
Market value represented by:
Newton Investment Management
Cazenove ISchroder> Investment Management
Property Fund investments
1,790,371
1,243,581
88,929
1,671,295
1,139,758
89,112
3.122,881
2,900,165
9 Debtors
2024
2023
Other debtors
15

The Delius Trust
Notes to the flnanclal statements (continued)
Year ended 31st December 2024
10 Credltors: amounts falling due wlthln one year
2024
2023
Trade creditors
Accruals
Grants payable
3,081
4,540
236,500
5,499
6,290
75.186
244.121
86,975
Grants brought forward
Grants committed in the year
Grants paid in the year
75,186
235,270
(73,956)
79,150
81,638
{85,602)
Grants out5tandin8
236,500
75,186
A Ilst of grants outstanding Is shown In the Annexe at the end of these accounts.
11 Statement of funds
2024
Brought
forward
Income
Expenses
Transfers
& galns
Carrled
forward
Unrestricted funds
2,913,926
96,851
{261,0691
222,716
2,972,424
Total funds
2,913.926
96,851
{261,069)
222,716
2,972.424
2023
Brought
forward
Income
Expenses
Transfers
& 8alns
Carrfed
forward
Unrestricted funds
2,848,382
103,406
1142,557)
104,695
2,913,926
Total funds
2,848,382
103,406
(142,557)
104,695
2,913,926
All of the Charity's funds are general unrestricted funds, in both the current and prior year.
16

The Dellus Trust
Annexe- Grants Awarded and Outstanding
Year ended 31st December 2024
Grants Awarded
2024
2023
Performances and Recordlngs
Wexford Opera Festival
Mark Bebbington/lMG/St George's Hall
Bach Choir
Bradford2025
Carwithen Music Festival
English Music Festival
Croydon Symphony Orchestra
Madeleine Mitchell
Immersionz
Bogdan Skrypka
Hounslow Symphony Orchestra
Oxford Philharmonlc Orchestra
Lee Braceglrdle
Delius Societv
Britten Sinfonia
Self Isolation Choir
International Associatlon of Music Libraries
EM Records
Smorgaschord Festlval
Five Churches Festival
Southrepps Music Festlval
Epsom Symphony Orchestra
160,000
22,000
10,000
10,000
5,000
2,500
2,000
2.000
1,754
1,000
700
500
200
2,500
500
10,400
10,000
4,936
2,500
1,200
1,000
1,000
750
74,786
217.654
Extended Objects
English Music Festlval
Royal Philharmonic Societv
2,500
6,000
6,000
2,500
Books, Manuscrlpts, etc.
Boosey & Hawkes
Archive items from Colin Coleman
Schott Music GmbH
9,942
4,812
153
14.907
Publicatlons
Wega Verlag
209
209
852
852
17

The Delius Trust
Annexe- Grants Awarded and Outstandlng (continued)
Year ended 31st December 2024
Grants written back
2024
2023
Choir of the Earth / Self Isolation Choir (cleared in 2022)
International Association of Music Libraries
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Watford Symphony Orchestra
Banbury Symphony Orchestra
(10,000)
(2,936)
(2,000)
11,300)
11,000>
{500)
117,736)
Net grants awarded In the year
217,534
81,638
Grants Outstandlng
2024
2023
Perfomiances and Recordlngs
Wexford Opera Festival
Delius Societv
Mark Bebbington/lMG/St George's Hall
Dutton Epoch
The Bach Choir
Carwithen Muslc Festlval
Croydon Symphony Orchestra
Delius Society- joint website & promotion
NMC Recordings
Self Isolation Choir
Internatlonal Association of Music Librarles
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Smorgaschord Festival
Watford Symphony Orchestra
Epsom Symphony Orchestra
Banbury Symphony Orchestra
160,000
24,000
22,000
12,000
10,o(x)
5,000
2,000
1,500
32,000
12,000
1,500
10,000
10,000
2,936
2,000
1,300
1,200
1,000
750
500
75.186
236,500
18

Charity registration number 207324
The Delius Trust
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
for the year ended
31st December 2024

The Dellus Trust
Report and Financlal Statements
Year ended 31st December 2024
Contents
Page
Legal & Administrative Information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the financlal statements
11-16
Annexe- grants awarded, grants outstanding
17-18

The Delius Trust
Legal & Admlnlstratlve Informatlon
TRUSTEES
Musicians Benevolent Fund (Help Musicians UK) (Representative: Mr John Axon)
Mr Martin Williams FSA
Mr Paul Guinery
ADVISERS
Professor Daniel Grimley
Mr Stephen Lloyd
Mr Robert Montgomery
SECRETARY
Ms Helen Faulkner
PRINCIPAL OFFICE
13 Calico Row, Plantation Wharf, London SWII 3YH
Email: deliustrust@deliustrust.org.uk
Web: www.delius.org.uk
INDEPENDENT EXAMINER
Jane Askew FCA
Haysmac LLP, 10 Queen Street Place, London EC4R IAG
BANKERS
HSBC Bank plc, City of London Commercial Centre,
60 Queen Victoria Street. London EC4N 4TR

The Delius Trust
Report of the Trustees
Year ended 315t December 2024
The Trustees present their Annual Report together with the Flnancial Statements of the Trust for
the year ended 31 December 2024.
The financial statements comply with the Charities Act 2011 and the 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).
Structure, Governance and Management
The Trust was established by the Will of Madame Jelka Delius who died on 28 May 1935, Its
Constitutlon was varied by a High Court Scheme in 1964 prlncipally by the settlng up of a panel of
three music advisers. In 1991, the Charity Commission approved a second Scheme which
consolidated the Trust's constitution in one document. This permitted the Trust to undertake
further activlties, particularly in the field of education; and to appoint a total of five advisers. In
1997, the Charity Commission approved a third Scheme in much the same terms but with
additional provisions, namely: (a) subject to prlority for the promotion of Delius's works, the
Trust's Object to include any other Britlsh composer born since 1860 to the present day wSth
partlcular preference for contemporarles of Delius; and Ib} the appointment of up to a total of
seven advlsers.
Durin8 the year the Trustees were:
Martin Williams
Paul Guinery
Musicians Benevolent Fund (now operating as Help Musicians UK)
Durlng the year Help Musicians UK was represented by John Axon, a former Trustee of HMUK.
The Trustees are responsible for the administration and management of the Trust. They are
assisted by the panel of Advisers. The Trustees and Advisers together held three meetings during
the year under review.
The Trustees keep the skills and experience required on the Trustee body under review. Trust
policy and guidelines can be found on the Delius website www.delius.org.uk. From 1965 the
Trust's archives were in the care of the Honorary Archivist, Lionel Carley, who died in late 2021.
The archive is now managed by Helen Faulkner who, in 2022, concentrated particularly on
incorporating many of Lionel Carle¢s papers and ephemera into the Trust's collection with the
assistance of Katharine Hog& Librarian of the Gerald Coke Handel Collection. This work has
conttnued and use of the archive, particularly the collections of letters and images, has increased
noticeably in the last two years.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 20Z4
Objertlves and Activltles
The Object of the Trust is to promote the works of the composer, Frederick Delius, and subject
thereto the works of any other composer born or at any time permanently resident in Great
Britain or Ireland from 1860 to the present day with a preference for contemporaries of Delius,
by:
l) recordlngs of every description whether mechanical, electrical or electronic;
2) the publication and issue .
. of ... all or any part of the complete works;
3) the financing and promotion . of public concerts and recitals;
4) the purchase of letters and manuscripts for the Trust's archives. and memorabilia and
ephemera relating to Delius's life; and
5} preserving and making available to the publlc, and improving and diffusing knowledge, of
Delius's life and works.
The Trust's Income is applied as follows:
a) by encouraging publishers to update parts and scores to agree with the Collected Edition
and maintaining unmarked parts for use if required;
b) by encouraging the availability of historical recordings and sponsoring those representin8 a
new generation of interpreters;
c) by acqulrlng secondary archlve material and depositing the remalning prlmary archive wlth
d) by financing performances of unusual or major works in the UK and encouraging more
performances In other countries, partlcularly those where the copyright continues to run.
Trustees have defined Sn detail how they would fulfil the secondary Object, i.e., the promotion of
works by British composers born from 1860 onwards. They decided that in this area they would
not, as a rule, support the works of individual composers but would consider applications from
organisations the objects of which include the promotion of this area of repertoire.
Actlvltles and Future Plans
The Trustees are particularly pleased to be able to support a new production of The Magic
Fountain which will take place at Wexford Opera Festival in October 2025, the third opera by
Delius to be staged there. They have also ensured that the music of Delius is represented within
Bradford 2025 UK City of Culture by making 2 grants for events in the city of his birth.
As part of its extended object, the Trust continued to support the Royal Philharmonic Society's
annual young composers scheme and the core costs of NMC, a registered charity, which issues
recordings of new British music.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
Activltles and Future Plans (contlnued)
The Trust maintains an extensive archive of material relating to Delius, including scores, letters,
irnages, concert programmes and other ephemera. It holds a library of books, journals, theses
and recordings in a variety of formats and has started to explore options for digitising appropriate
parts of the collection to improve access for researchers. During the year, researchers have again
been able to use the collection in person or by remote access.
Publlc Beneflt
The Trustees have referred to the Charity Commission guidance on public benefit and believe that
the Trust's activities as outlined in this report contributed to public benefit specifically by the
advancement of education in the arts (particularly muslc), culture, heritage and science.
Financlal Revlew
There are no restricted or endowment funds. The Trust carries out no ongoing fund-raising
activlty. Followin8 the lapse of the majority of Delius's copyrights, the Trust's income from this
source has continued to decline and its income derives mainly from investments purchased from
the accumulated income of earlier years.
In the year ended 31 December 2024 the Trust's income amounted to £96,851 (2023: £103,406)
and net expendlture was £261,069 (2023: £142,557). In 2024 the Trust awarded grants of
£217,534 {2023: £81,638).
There were unrealised gains on the investment portfolio of £222,716 (2023: £104,695). The
outturn for the year was a net inflow of funds of £58,498 (2023: £65,544). The total resources
available to the Trustees at the year-end were £2.97 million12023: £2.91 million).
For over 40 years the Musicians Benevolent Fund (now operating as Help Musicians UK), a
Trustee, provided accommodation at no charge to the Trust, They ceased this arrangement In
2016, mitigating the financial effect to the Trust in 2016-18 by making a grant towards the cost of
renting an office. This ceased in 2019 and since then the Trust has met the full cost of its
accommodation. The Trust off ice is shared with the Vaughan Williams Foundation to which it
reimburses a share of the offlce expenses at cost.
Investment Pollcy
The Trustees aim to preserve a balance between achieving growth in the Trust's investments and
producing income adequate to maintain the desired level of 8rant-making. When necessary,
investment units designed for growth will be sold to provide income above the level produced by
income units. During 2025 we shall undertake a detailed review of the Trust's investment policy
and the investments to support this.

The Delius Trust
Report of the Trustee5 (contlnued)
Year ended 31st December 2024
Reserves Policy
The Trust's accumulated reserves are invested mainly in common investment funds Icollective
vehicles designed specifically for charities) managed by Cazenove (Schroder) and by Newton, a
subsidiary of The Bank of New York Mellon Corporation. Two investments {in property common
investment funds, also deslgned expressly for charities) totalling £88,929 (2023: £89,112), are
managed directly by the Trustees.
The level of grant-making is essentially demand-led and can vary considerably from year to year.
The Trustees do not have a specific target for the level of reserves and are happy to reduce this
when it is appropriate to do so. They have a policy of keeping sufficient cash holdings to cover
short to medium term commitments.
Fundralsln8
Since the Trust's income is derived from performing rights of Frederick Delius's compositions and
investment income, it does not undertake fundraising activlties; it is nevertheless mindful of the
Code issued by the Fundraising Regulator.
Copyrlght
Although In the main copyright In Dellus's composition5 published durlng hls Ilfetime expired on
31 December 2004, the situation Is compllcated by the protectlon accorded to posthumous
publications, copyright extensions for war years in France and Italy, and the position in the USA, In
order to clarify the position, the Trust has published a detailed summary on the Delius website at
www.delius.org.uk.
Grants
The grants made rnay be grouped under the following headings and more details of them is
shown in Annexes l and 2 at the end of the accounts accompanying this report.
2024
2023
Performances
Books and manuscripts
Extended objects
Publications
Grants written back
217,654
14,907
2,500
209
117,736)
74,786
6,000
852
217.534
81,638
Grants written back relate to projects Postponed and subsequently cancelled as a result of the
COVID-19 pandemic.

The Dellus Trust
Report of the Trustees (contlnued)
Year ended 31st December 2024
Heritage Assets
The Trustees have accumulated a collection of books, pamphlets, manuscripts, photographs,
paintings and other items connected with Frederick Delius and his contemporaries. The Trustees
consider that the maintenance of such a collection is an integral part of their primary objective
and that a formal valuation would not be a good use of charity resources. The collection is
available for study (by prior arrangement with the Secretary), and from time to time items are
loaned to museums, art galleries and similar organisations for public displav.
Rlsk Management
The major risks to which the charity Is exposed, as identified by the Trustees, have been reviewed
and systems have been established to mitigate those risks. Robust banking and other financial
procedures are in place and grants are closely monitored to manage the main risk of
misappropriation of the charity's funds.
As noted below, these accounts are approved durlng a period of uncertainty for both Inflow and
outflow of funds. However, through appropriate consideration of risks as part of its normal risk
management process, the Trustees consider it appropriate for the going concern basis to be
adopted, as In previous years, for these accounts.
Golng Concern
Only a few works by Dellus remain in copyrlght so this is no longer a significant element of the
Trust's incorne. Investment income held up well. The Trustees are confident that they have
sufficient cash holdings to enable grants to be paid during 2025 and In subsequent years without
the need for the unplanned sale of 5nve5tments.
Vote of Thanks
The Trustees would like to record their thanks to the Trust's advisors and to its Secretary, Helen
Faulkner for all that she has done durlng the year to further the name of Delius and his works on
behalf of the Trust.

The Dellus Trust
Report of the Trustees (continued)
Year ended 31st December 2024
ststement of Trustees, Re5ponslblllties
The Trustees are required to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the Trust and of its surplus or deficit for that period. In
preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently,
make judgements and estimates that are reasonable and prudent.
observe the methods and principles in the Charities SORP,
state whether appllcable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements, and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Trust will continue in business.
The Trustees are responsible for keeplng proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Trust. The Trustees are also
responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
17
Approved by the Trustees on ..........,,,.,...............................,........,,.
. 2025
Tr(￿L
Paul Guinery
Trustee and Chairman
Martin B M Williams
Trustee

INDEPENDENT EXAMINER'S REPORT
to the Trustees of The Delius Trust
Year ended 315t December 2024
I report to the Trustees on my examination of the accounts of the Delius Trust (the Trust) for the
year ended 31 December 2024.
Responslbllltles and basls 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 2011 {'the Act,).
Having satisfied myself that the accounts of the Trust are not requlred to be audited under the
Act and are eligible for independent examination, I report in respect of my examination of your
charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In
carrying out my examination I have followed the Directions given by the Charity Commission
under section 145(5) {bl of the 2011 Act.
Independent examlner's statement
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:
l. accounting records were not kept in respect of the Trust as required by section 130 of the
2. the accounts do not accord with those records; or
3, the accounts do not comply with the applicable requlrements concerning the form and
content of accounts set out in the Charitles {Accounts and Reports) Regulatlons 2008 other
than any requlrement that the accounts glve a 'true and fair vlew which is not a matter
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 preparln8 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.
4 July 2025
Signed............................................................................. Date.........................................
Jane Askew FCA
Haysmac LLP
10 Queen Street Place
London
EC4R IAG

The Delius Trust
Statement of Flnanclal Activitles (Including an Income and expendlture account)
Year ended 31st December 2024
Note
Unrestricted Unrestrlcted
2024
2023
Income from:
Charitable activitles:
Royalties and performlng right fees
Investments
5,324
91,527
12,184
91,222
Total Income
96,851
103,406
Expendlture on:
Charitable activities:
261,069
142,557
Total expendlture
261.069
142.557
Deflclt on ordlnary actlvltles
(164,218)
(39.151)
Gain on investment assets
222,716
104,695
Net movement In funds
58,498
65,544
Total funds brought forward
11
2,913,926
2,848,382
Total funds carrled forward
2,972,424
2,913,926
All transactions derive from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
The notes on pages 11 to 18 form part of these financial statements.

The Dellus Trust
Balance Sheet
Year ended 31st December 2024
2024
2023
Note
Fixed assets
Investments
3,122,881
2,900.165
Current assets
Debtors
Bank balances
93,664
93,664
100,736
100,736
Current Ilabllltles
Creditors - amounts falling
due within one year
10
(244,121)
(86,975)
Net current assets
(150,457)
13,761
Total net assets
2,972.424
2,913.926
Unrestrlcted funds
11
2,972,424
2,913,926
These accounts were approved and authorised for issue by the Board of the Trustees
on
2025 and were signed below on its behalf by:
t4J¥UA
Paul Guinery
Trustee and Chairman
Martin Williams
Trustee
The notes on pages 11 to 18 form part of these financial statements.
10

The Dellus Trust
Notes to the financial statements
Year ended 31st December 2024
Accounting Pollcles
The principal accounting pollcies adopted, Judgements and key sources of estimation
uncertainty in the preparation of the financial statements are as follows:
General Informatlon and basls of preparation of accounts
The financial statements have been prepared in accordance with "Accounting and Reporting
by Charities: Statement of recommended practice applicable to the charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102)" (Effective l January 20191- (Charities SORP (FRS102), the
Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).
Delius Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value u nless otherwise
stated In the relevant accounting policy notels).
The flnancial statements are presented in UK Sterllng, which Is the Charity's functional
currency, and rounded to the nearest pound.
Golng concern
Only a few works by Delius remaln in copyright so this is no longer a significant element of
the trust's income. Investment income held up well. The trustees are confident that they
have sufficient cash holdings to enable grants to be paid during 2025 and in subsequent
years without the need for the unplanned sale of investments,
Fund accountln8
Unrestricted funds comprise accumulated surpluses and deficits on general funds. They are
available for use at the discretion of the Trustees In furtherance of the charitls general
charitable objectives.
Income
Income represents the total income recelvable during the year, comprising royalties,
performing right fees and Investment income. All income is recognised once the charity has
entitlement to the resources, it is probable that the resources will be received and the
monetary value of incoming resources can be measured with sufficient reliability.
Expendlture
Liabilities are recognised as resources expended as soon as there is a legal or constructive
obligation committing the charity to the expenditure. All expenditure is accounted for on an
accruals basis and has been classified under headings that aggregate all costs related to the
category.
11

The Delius Trust
Notes to the financial statements (Continued)
Year ended 31st December 2024
Grants are included in the period of account when they are actually approved at a meeting
of the Trustees.
Charitable activity costs include costs associated with grant making, promotion of the works
of the composer and his contemporaries, research and archiving.
Support costs comprise services identifiable as wholly or mainly in support of charitable
purposes.
Governance costs
Governance costs comprise all costs Involving the public accountability of the charity and Its
compliance with regulation and good practice. These costs include independent
examlnatlon and legal fees.
Herltage assets
In accordance with the SORP depreciation has been allocated on all classe5 of tangible fixed
assets except those classifled as Heritage Assets.
Investments
Investments are shown in the financial statements at market value. Movements in the
market value of investments are shown as unrealised gains/losses in the Statement of
Financlal Actlvities.
Llab115t5es and provlslons
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 economlc 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. Provisions are
measured at the best estimate of the amounts required to settle the obllgation. Where the
effect of the time value of money is material, the provision is based on the present value of
those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability. The unwinding of the discount is recognised in the statement of financlal activities
as a finance cost.
12

The Delius Trust
Notes to the financial statements (contlnued>
Year ended 31st December 2024
Estimates and Judgements
Estimates and judgements are continually evaluated and are based on historical experience
and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. Although these estimates are based on the Trustee's best
knowledge of the amount, events or actions, actual results ultimately differ from these
estimates. The Trustees do not consider there to be any estimates and judgements.
Flnanclal Instrument
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments, Including trade and other debtors and
creditors are initially recognised at transaction value and subsequently rneasured at their
settlement value. The portfolio of investments held by the charity is included at fair vaSue.
2 Royaltles and performln8 rl8ht fees
2024
2023
Performing Right Society
Mechanical Copyright Protectlon Society
Boosey & Hawkes
Other royalties
988
39
2,216
2,081
1,216
183
8,330
2,455
5,324
12,184
3 Investment Income
2024
2023
Newton Investment Management
Cazenove {Schroders) Investment Management
Property funds
Interest on cash deposits
38,304
46,482
3,038
3,703
38,949
46,539
2,305
3,429
91.527
91,222
13

The Delius Trust
Notes to the financlal statements (continuedl
Year ended 31st December 2024
4 Charltable Actlvltles
2024
2023
Net grants awarded (note 51
Management & administration
Advisors, fees and expenses
Archivist's fees and expenses
Secretarial services
Office expenses
Website, advertising & promotion
Accountancy
Governance
Independent examiner's remuneration
Trustee expenses
Meeting expenses & hospitalitv
217,534
81,638
5.100
450
17,136
13,665
345
3,079
5,100
7,420
17,136
19,632
3,226
1,575
3,590
71
99
4,490
105
2,235
261,069
142,557
5 Grants and other payments made
In pursuance of the objects of the Trust
2024
2023
Publlcatlons
Performances
Books and manuscripts
Extended objects
Grant5 written back
209
217,654
14,907
2,500
(17,736)
852
74,786
6,000
217.534
81.638
Grants written back relate to projects postponed and subsequently cancelled as a result of
the COVID-19 pandemic.
A list of grants awarded is shown in the Annexe at the end of these accounts.
14

The Delius Trust
Notes to the flnancial statements (continued)
Year ended 31st December 2024
6 Trustees, remuneratlon and expense5
No remuneration was paid or is payable either directly or indirectly for the year to any
Trustee or to any person or persons known to be connected with any of them12023: £nil).
One Trustee was reimbursed £71 of travel expenses in respect of the year to 31 December
2024 (2023: one Trustee was reimbursed travel expenses of £105).
7 Related party transactlons
No Trustee or other person related to the charity had any personal interest in any contract
or transaction entered into by the charity during the year (2023: none), and there are no
balances outstanding with any related parties at the Balance sheet date {2023: none).
8 Investments
2024
2023
Market value at 1st January
Net gains / (losses) on revaluatlon
2,900,165
222,716
2,795,470
104,695
Market value at 31st December
3,122.881
2,900,165
Historical cost
1,540,590
1,540,590
Market value represented by:
Newton Investment Management
Cazenove ISchroder> Investment Management
Property Fund investments
1,790,371
1,243,581
88,929
1,671,295
1,139,758
89,112
3.122,881
2,900,165
9 Debtors
2024
2023
Other debtors
15

The Delius Trust
Notes to the flnanclal statements (continued)
Year ended 31st December 2024
10 Credltors: amounts falling due wlthln one year
2024
2023
Trade creditors
Accruals
Grants payable
3,081
4,540
236,500
5,499
6,290
75.186
244.121
86,975
Grants brought forward
Grants committed in the year
Grants paid in the year
75,186
235,270
(73,956)
79,150
81,638
{85,602)
Grants out5tandin8
236,500
75,186
A Ilst of grants outstanding Is shown In the Annexe at the end of these accounts.
11 Statement of funds
2024
Brought
forward
Income
Expenses
Transfers
& galns
Carrled
forward
Unrestricted funds
2,913,926
96,851
{261,0691
222,716
2,972,424
Total funds
2,913.926
96,851
{261,069)
222,716
2,972.424
2023
Brought
forward
Income
Expenses
Transfers
& 8alns
Carrfed
forward
Unrestricted funds
2,848,382
103,406
1142,557)
104,695
2,913,926
Total funds
2,848,382
103,406
(142,557)
104,695
2,913,926
All of the Charity's funds are general unrestricted funds, in both the current and prior year.
16

The Dellus Trust
Annexe- Grants Awarded and Outstanding
Year ended 31st December 2024
Grants Awarded
2024
2023
Performances and Recordlngs
Wexford Opera Festival
Mark Bebbington/lMG/St George's Hall
Bach Choir
Bradford2025
Carwithen Music Festival
English Music Festival
Croydon Symphony Orchestra
Madeleine Mitchell
Immersionz
Bogdan Skrypka
Hounslow Symphony Orchestra
Oxford Philharmonlc Orchestra
Lee Braceglrdle
Delius Societv
Britten Sinfonia
Self Isolation Choir
International Associatlon of Music Libraries
EM Records
Smorgaschord Festlval
Five Churches Festival
Southrepps Music Festlval
Epsom Symphony Orchestra
160,000
22,000
10,000
10,000
5,000
2,500
2,000
2.000
1,754
1,000
700
500
200
2,500
500
10,400
10,000
4,936
2,500
1,200
1,000
1,000
750
74,786
217.654
Extended Objects
English Music Festlval
Royal Philharmonic Societv
2,500
6,000
6,000
2,500
Books, Manuscrlpts, etc.
Boosey & Hawkes
Archive items from Colin Coleman
Schott Music GmbH
9,942
4,812
153
14.907
Publicatlons
Wega Verlag
209
209
852
852
17

The Delius Trust
Annexe- Grants Awarded and Outstandlng (continued)
Year ended 31st December 2024
Grants written back
2024
2023
Choir of the Earth / Self Isolation Choir (cleared in 2022)
International Association of Music Libraries
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Watford Symphony Orchestra
Banbury Symphony Orchestra
(10,000)
(2,936)
(2,000)
11,300)
11,000>
{500)
117,736)
Net grants awarded In the year
217,534
81,638
Grants Outstandlng
2024
2023
Perfomiances and Recordlngs
Wexford Opera Festival
Delius Societv
Mark Bebbington/lMG/St George's Hall
Dutton Epoch
The Bach Choir
Carwithen Muslc Festlval
Croydon Symphony Orchestra
Delius Society- joint website & promotion
NMC Recordings
Self Isolation Choir
Internatlonal Association of Music Librarles
Philharmonic Chamber Orchestra of London
Sampson Orchestra
Smorgaschord Festival
Watford Symphony Orchestra
Epsom Symphony Orchestra
Banbury Symphony Orchestra
160,000
24,000
22,000
12,000
10,o(x)
5,000
2,000
1,500
32,000
12,000
1,500
10,000
10,000
2,936
2,000
1,300
1,200
1,000
750
500
75.186
236,500
18