Company Re91Stration No. 01587684 IEngland and Wales)
Charity Registration No. 283484 (England and Wales)
THE CHAMBER ORCHESTRA OF EUROPE
(Limited by guarantee and not having share capital>
TRUSTEES. REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

THE CHAMBER ORCHESTRA OF EUROPE
CONTENTS
Page
Legal and administrative information
Truslees, report
Independent auditorfs report
8- 11
Statement of financial activities {induding incorne and expenditure
account)
12
Balance sheel
Sta*errenl of cash flows
14
Notes to the financial staterllenls
15-21

THE CHAMBER ORCHESTRA OF EUROPE
LEGAL AND ADMINISTRATIVE INFORMATION
Truste8s, DlrectOTS and
Executive commlttee
John Peter Abercromby Readman
Thlichael Graham Hoare
James Judd
Secretary
Michael Graham Hoare
Company Registration No.
01587684
Charity Registratlon No.
283484
Prlnclpal offlce
North House
27 Great Peter Street
London SW1P 3LN
Registered office
40 Queen Anne Street
London W1G 9EL
Auditors
Lewis Golden LLP
Chartered Accountants and Stalulory Auditors
40 Queen Anne Street
London W1G 9EL
Bankers
C Hoare & Co
37 Fleet Street
London EC4P 4DQ
Sollcltors
BDB Pitmans LLP
1 Bartholomew Close
London EC1A 7BL
Website
www.coeurope.org

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Tnjstees {who are a150 the Directors) are pleased lo present their report, together with the financial
statements ol the company lor the year ended 31 December 2022 which also represents the Directors. report
as r8quired by s415 of the Companies Act 2006.
The financial statements have been prepared in accordance with accounting policies set out on pages 15 10 17
and with applicable Unite(J Kingdom 8ccounllng standards, CL¢rrenl statutory requirements, the Charities Act
2011, the Companies Act 2006 (Charitable Companies), A￿Ounting and Reporting by Charilies.. Statement ol
Recommended Practi￿ Applicable to Charities Preparing their accounts in accordance with the Financial
Reporting Standard Applicable in Ihe UK and Republic of Ireland IFRS1021 (2nd Edition, effective January
20191 I'charities SORP'I, the Financial Reporting Standard applicable in the United Kingdorn and Republic of
Ireland I'FRS 102,1 and the charity's goveming docuwenl. The legal and adminislralive inforTnalion sel out on
page I lomis part of this report.
The company and 5ts ¢haritable objectives for the publle beneflt
The Chamber Orchestra of Europe ICOE} is a company limi18d by guarantee and not having sha¥e eapital
(Company Registration No. 015876841. It is govemed by its Memorandum and Articles of Association dated 25
Septembei 1981. and is a registered ¢harily {Ch8rity Registration No. 2834841.
Legal and administrative inlomatson, as Set out on page 1, forms part of this report.
The objectlVè5 of the Qrcheslra are lo promote the p¢rfotmance of works of classical music so as lo increase
public 18Ste and appreclation for the art of music.
A5 well as being Leaders and PTincipals of other major orchestras. the players pursue parallel careers as
international soloists, members of celebrated chamber ensembles, and as professors of music. Unsurprisingly,
the Chamber Orchestra of Europe philosophy influence5 the players, own work during the re51 of the year,
olably in a w¢de range of educational projects in which they are involved, rraking the Orchestra a truly
impressive example of co-operation between individual European nations.
The Gharnber Or¢heslra of Europe has been able to implement a European Partnership Srhewe with a group
of major concert halls and 18slivals across the conb'nenl. These inelude the Cite de la Musique in Pari5, the
Concertgebouw in Amslerclam, the Philh8rmonie in Cologne, the Teatro Communale in Ferrara, and the
Lucerne and Salzburg Mozartwoche Feslivals. Th859 partnerships enhance the Orchestra's financial and
artisti¢ stability, increase its profile. and ensure that ils Dbjectives can be sustainable in the long lerm.
The Chamber Orchestra of Europe Academy was devel(wd In 2009 order to give se1e¢ted students the
chance to study with the principal players ol the Chamber Orchestra of Europ8 and be inspired by the
Orchestra's unique ethos and passion for making mu51c.
The Trustees confirm thal in accordance with section 4 of the Charities Act 2006 they have referred to the
Charity Commission's general guidance on public benefit when reviewing the Cha¥ity's aims and obje¢lives
and in pL3nning their future 8clivilies.
Organi5ation
The charitable comp8nls administration is under the control of the Trustees. The Trustees during the year to
31 December 2022 were..
J.P.A. Read¥nan Ichairmanl
M.G. Hoa￿ Isecrelaryl
J. Judd (Direclorl
Mo TrusteelDirector received any remuneration in the year to 31 December 2022, and no travel or other
expenses were paid on behalf of any Tnjstee.

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)
Method of appolntment of Trustees
The appointment of TrusteeslDireGtors is govemed by the Memorandum and Articles of Association. In
accordance with the ¢harit8ble companls Articles of Association Peter Re8drnan retires by rotation and. being
eligible, offers hirnsell for re-election.
Results for the year ended 31 December 2022
The results for the year on page 12 of the financial slalements show a net deficit for the year of £61,944
reducing reserve5 at the end of the year to £2,148,028.
Achl8vem•nts and P8rforman¢e
A5 Wtth the first half of 2021, COVID slruGk us again al the beginning of 2022 with our first concert of the year
at the Salzburg MozarbKoche Festival in January being cancelled al the last moment.
Our firsl tour of thè yèar was thèrèforè a series of concert5 In Norway and Denmark in February with
Venezuelan conductor Rafael Payare and Norwegian violÉnist Vilde Frang. Together we performed Mozart's
Don Giovannl Overture, Schumann's Violin Concerto and Beethoven's Symphony No. 3 'Eroica' in Oslo,
Bergen and also Aalborg Denmark. AIS Ihe venues were extremely welcoming and the Orchestra {COEI
performed all concerts lo sold-out halls and enlhusiaslic applause. According to Ihe Oslo Aftenposten.. °The
orchestra shows enormous elasticity and pl8ys with a great dynamic range and enormous precision. It's like
the orchestra is onè musician instead of about forty."
In March we worked with Robin Ticciali and 3150 Jean-GLJihen QLJeyras, with whom we had last toured in 2017
with Yannick Nézet-séguin. Although our concert in Ludwigshafen was cancelled. again as a result of COVID,
our concert at the Kammermusiksaal der Philharmonie Berlin still went ahead and we performed
Mendelssohn's Hebrides Overture, Schumann'5 Cello ConGerto and Beethoven's 6th Symphony, the 'Pastoral'.
Later in March the Orchestra began ils role as the new orcheslra-in-residence at the Esterhazy Palace in
Eisensladl with a concert featuring Fazil Say. The COE was selected by a group of six world-renowned
musicians and Gultural managers in a multistage process. The residency is for a period of Ihree years during
which the Orchestra will undertake at least four concert projects per year in the Haydns881 of the Esterhazy
Palace. The concerts will be performed both for the HERBSTGOLO-Festival and for the concert series
classic.Esterhazy. In this Conlexl. an extensive audio visual partnership has been formed belween the
Orchestra, the Esterhazy Pala￿ and medici.Iv, the world's leading Gla5sical mLJSie channel. All of the COE'S
con¢erts in Eisenstadt will be 51re8med live on medi¢i.tv. with on-demand replays available to audience5
woddwide. The concert was repeated at the recently opened Isarphilharmonie in Munich.
In May, the Orchestra was thrilled to work for the second time with hrtoldovan-Austrian Violinist Patricia
Kopatchinskaja and for the very first time wlh Czech conductor Jakub Hrusa. Together they travelled to Italy
and performed Beelhoven's Violin Concerto and Schumann's SyTnphony No. 2 in Pisloia and Bologna. The
COE'S first project with Patricia happened in May 2016 when we gave six concerts together in Italy,
Switzertand and France. Over just a coijple of weeks, a strong connection developed between Patricia and the
COE and when Dne of the COE violinists was taken ill for the second half of the concert Borde8ux, Patricia
offered lo joln the first violins, performing Beelhoven's Symphony No. 7 as if she had always been part of the
Orchestra. In her words, plawng Wlth the COE is'notjusl a dream, but a dream within a dreaml
Later in May. the Orchestra was delighted lo be working again with FranGois Leleux. Franpis is véry special to
all of us al the COE as he was our prfncipal oboe for some years. Like a number of wind players in the COE
over b'me - Thierry Fischer, Dou918 Boyd, Jaime Martin
he developed his career as a conductor and is now
Artistic Partner of Camerata Salzburg and Artist-in-Residence at the City of Birmingham Symphony Orchestra.
This time, FTanGois performed his own arrangernents for ob08 and orchestra of arias from Moz8rt's operas
The Magic Flute and Don Giovanni, as well as CiFn8Tosa's Concerto for Oboe and Strings. Widmann's Arla for
violin, viola and eleven strings, Haydn's Symphony No. 22 and Moxart's Symphony No. 28 were directed by the
COE Leader Maria Wloszczowska.

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)
Achievement5 and Performanc• (continued)
In June, we met up with Simon Rallle for our first-ever major lour with him foll<)wing our first concert together in
Berlin in October 2020 in the middle of Ihe COVID-19 global pandemic. This Iirst encounler with him was a
very emotional lime for the COE mu5iGians who had not had the opportunity to play together since February
that year. They were alsts Ljnsure when they would be able lo play again alter these concerts with Simon and
NO￿egIan violinist Vilde Frang at the Berlin Philharmonle. 11 was in these surreal clrGumstances that the COE
embarked on ils very firsl project with the British conductor with whorn il had been trying to work for years, We
were therefore very much Iwking fonmard lo this substantial tour, featuring five concerts in Dresden,
Luxemburg, Cologne, Vienna and Hambury with Simon's wile Magd8len8 Kozena and tenor Andrew Staples
performing Mahler's Das Lied von der Erde. The programme also included Richard Strauss's Metamtsrphosen.
written lor 23 solo slrings at the end of the Second World War. The tour was a gre3t triumph for all involved
and led to Sirnon Rattle committing to many futLJre projects with Ihe COE in the coming years.
In June and July the COE was very pleased to be working for the second time with the Canadian pianist Jan
Lisiecki after th8ir fiTSt proj8ct together with Yannick Nézet-séguin b8ck in 2015. This series of concerts was
postponed from June 2020 when we were going to celebrate Beethoven's 250th birthday wth a Beethoven
Piano Concerto cycle in a number of German cilies and festivals. This series of concerts was split into two
Parts, the first at the Klavier-Festival Ruhr in Wuppertal, Dortmund and Ludwigsburg at Ihe end of June, the
second part al the Rheingau Musik Festival in Wiesbaden where they perfomied the entire cycle in two
concerts at the end of July.
Also in July, we returned to our residency at the Baden-Baden Festspielhaus which marked the 10th
anniversary of our collaboration wth Y8nnick Nezet-seguin at this special venue. Followng performances and
ordings ol Mozart's late operas for Oeutsche Grammophon - Mozart's Cosi Fan Tulle, Enlfohrung aus dem
Serail, Le Nozze di Figaro, La Clemenza di Tilo and The Magic Flut8
we have recenlly mov8d on lo
orchestral repertoire, most impcirtant1y performing and recording a Beethoven Symphony Cycle in 2021 a5
soon as restrictions due to the COVID-19 pandemic began to be lifted. The resulting recording was released to
great critical aGclaim. In 2022 we performed Brahms's Symphonies Nos. 1 and 2 together with piano concertos
by Clara Wieck-schumann and Robert Schumann with Bealrice Rana. We also perfomed Brahms'5 Piano
Concerto Nos. 1 and 2 with Seong Jin Cho and Symphonies Nos. 2 and 3 by Xlxlh century French composer
Louise Farrenc. The Brahms Symphonies were recorded for Deuische Grammophon with 8 view to completing
the set this summer in Baden-Baden. Warner Classics recorded Clara Wieck-schumann's Piano Concerto No.
1 and Robert Schumann's Piano Concerto with Beatrice Rana and released Ihe CD to iniernational acclaim in
Febrtjary this year.
In September, we relumed lo the Settimane Musicali di Ascona to perform with pianist- and artistic direclor of
the festival - Franc85co Piemonlesi. He invitBd the COE ID the festival for the first time ill 2016 when our first
project together was with Roger Norrington in a programme by Haydn and Beethoven. We were then invited
back in 2019 with conductor Joshua Wei5erslein and performed works by Brahms, Liszt. Haydn, Kodaly, Bartok
and Golljov, which were based on the theme 'D8n¢es'. For reasons we all know, the Orche51ra was unable to
perform at ihe Festival in 2020 and 2021 and we were delighted lo have been invited again in 2022 to work
wlh Francesco Piemontesi and conductor Robin T1ccia￿.
Later in September, following the launch of the COE'S residency al the Schloss Esterhazy in Eisenstadt back in
March 2022, we opened the HERBSTGOLD Festival with concerts with the Festival's artistic director Julian
Rachlin and COE Honorary Member Andras Schiff For our first-ever concert with violinist Julian Rachlin we
perfoimed Brahms's Violin Con￿rt0 in D major, Haydn's Symphony No. 49 'La Passione, _ echoing the maln
theme of the 2022 festival 'Passion' and a le51imony lo the heritage of the Schloss Esterhazy, Haydn's
workplace
and Beethoven's Symphony No. 7. For the second concert, the Orchestra performed Haydn's
Piano Concerto No. 11 in D major. Bartok's Divertimento for string orchestra and Haydn's Symphony No. 104
'London' with our close friend Andras Schiff.

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022 ICONTINUED)
Achievemènis and Performance Icontinuedl
For a number of years now, the Orchestra and the Kronbèrg Academy have been working in partnership, with
the COE being Invlted lo perforTll 8 number ol limes in Kronberg, including for the celebration ol the
Academsls 25th anniversary in 2018. We are thrilled Ihal this partnership has resulted in an invitation to
become or¢h8stra-in-residence al the AGadomy's brand new Casals Forum Whe￿ we can rehearse before
tOLJrs as well as perfomi smaller scale concerts with some of th8 KronbeTg Academy sludenls and teachers.
For the celebmtion of the opening of the Casals Forum in Seplembei, we perfomied a series of private
concerts for the Kronberg Academy's sponsors and friends as wel5 as a public concert and a chamber concert
to celebrate the long-awailed grand opening of the Casals Forum. Joining the Ord)estra were Andras Schiff as
well as world-class artists such as Isabelle Faust, Steven Isserlis. Tabea Zirnmerman, Antoine Tameslit and
Vadim Gluzman, The repertoire for the public ¢oncert included Beelhoven's Overture in C Major "The
consecration of the house" and Piano Concerto No. 1 as well as Brahms's Concerto for Violin and Cello in A
minor.
At the end of the month, the Orchestra, FranGois Leleux and Lisa Baliashvili perfomed al the Mozart+Fesl,
three-day festival in celebration of the inauguration tsf the Mozarteum's new foyer and the completion of the
first stage of the renovation of the GroQer Saal. The programme featured Mozart's Symphonies Nos. 28 and
40. Mozart's Violin Concerto in A major and Bellini's Oboe and slrings concerio.
Then in October, the Orchestra was joined by pianisl Dénes Vaoon and violinist Veronika Eberle to perfomi
Haydn's Symphony No. 34, HLJmmel's Concerto for Piano. Violin and Orchestra, Janacek's Concertino and
Mendelssohn's Concerto for Piano, Violin and Strings. We then performed al the Kammermusiksaal der
Philhatmoni8 in Berlin and al the Schloss Eslerhazy in Eisenstadl, with some of our players and Dénes then
travelling lo Budapest lo give a concert in the Grand Hall of the Liszt Academy, featuring repertoire by Moiart,
Janacek. Schubert and Dvorak.
In November the COE was invited back lo South Korea, this lime with ihe generous support of Hyundat, for 8
series of concerts with Ukrainian conductor Kirill K$rabits and Korean pianist Sunwook Kim. We performed Iwo
differanl programme8 lealuTing works by Beethoven, Mendelssohn and Schubert In Seoul, Daegu and
Incheon.
To end 8 most challenging and exciting year. the Orcheslra then joined Tony Pappano for seven concerts in
Oviedo. Athens, Ferrara, Milan, Munich, Antwerp and Cologne. Thesg performances featured star violinist
Janine Jansen, another very close friend of the Orchestra and the programme induded Ravel's Tombeau de
Couperln, Prokoliev's Violin Concerto No. 1, Dvorak's Serenade for Strings and Kodaws Dances of Galanta.
All in all 2022 provided an excepuonal year of music-making for all the members ol the Orchestra and the
team behind the scene5 and was a massive relief following the IraLJmas of 2020 and 2021.
FinJnce and sponsorship
We continue lo be very lortunale to benefit from the significant support of The Gatsby Charitable Foundation
and from our programme of support of the Princip81 position3 In the Orchestra. In 2022 we benefited 8gain
from a meaningful grant lowards our eligible expenses from HMRC under ils orchestra tax reliet scheme which
was introduced in April 2016. Above all, however, we received exceptional and very significant additional
donations from The Galsby Charitable Foundation specificaSly to support our members, for which w8 ar
imrllensely grateful.

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)
Re58tves Pollcy
At the end of the year the Orchestra had reserves of £2,148,028. The Orchestra requires a level of reserves 10
ensu￿ sufflcienl resources to suppc>rt a programme of activity that involves development some years in
advance. The TrLJstees also consider it appropriate lo have a certain level ol reserves lo mitigate some of the
risks associated with working 8cross Europe at a lime of uncertainty caused by the effects of the war in
Ukraine. Given the current Un￿rtain conditions throughout Europe and the significant increase in hotel and
travel costs, the Trustees consider the reserves held at the year end lo be vital to ensure the Orcheslr8'9
fulure.
The reserves of the charity are constantly reviewed by the Trustees to ensure they are appropriate lo support
the activilies of the charity. The Trustees sel budgeis al the start Df the year 8nd ￿VIeW actual income and
expenditure against these budgets at regular Trustee meetings.
Major Rlsks
The major risks to which the COE is exposed are constantly reviewed by the Tru5tee5 and, to the extent
possible, systems have been put in place to mitigate those risks. Specifically, these includè de81ing with the
massive consequences of Brexit, Covid and the war in Ukraine to which the COE is as vulnerable as any
British orchestra. However, with the healthy level of reserves and additional grants from The Gatsby Charitablts
Foundation there is every prospect that the Orchestra reTllains in a reasonable position to weather the current
kjncertainties.
Future Actlvltios
Al the beginning of 2023 we paid our first-ever visit lo the Canary Islands to give con¢erts w((h a great friend of
the Orchestra, Pierre-Lau￿￿t Aimard and to work for Ihtr first lime with conduclor Andres OrozctFEslrada. It
was a greal time for the Orcheslra tD be away from the winter in Europe and experience Iwo remarkable
concert ha115 with enlhusiaslic audiences.
From the Canaries, the Orcheslra made its way to Sa12burg for its first visit to the Mozartwoche Feslival since
2020. Again, with Andres Orozco-Estrada conducting, Ihe Orchestra was joined by Seong Jin Cho for a
perfornian￿ of Mozart's Pi8no Concerto K.466, 8 work he had already played and ￿e0rded with the COE and
Yannick Nézet~Séguin in Baden-Baden.
Aftei a short paus8, the Orchestra regrouped in Bordeaux for a major tour with Robin Ticciati with wncerts in
Bordeaux, Hamburg, Berlin, Eisenstadt and Bregenz. featuring soloist Lisa Batiashvili, another great friend of
the OrGheslra, playing Beelhoven's Violin Concerto. These concerts were received with rapturous acclaim and
cemented Ihe burgeonlng partnershlp betsveen Robin Tl¢clati and Ihe entire Orchestra.
Comlng projects Include a tour with Herbert Blomstedt in May, a special concert with Bryn Terfel and Robin
Ticciati at the Renconlres Musicales in Evian in June, followed by 8 retum to the Baden-Bad8n Feslspielhaus
in July with Yannick Nézet-seguin lor performances and recordings of Brahms'5 Syrnphonies Nos. 3 and 4. In
August, we team up again with Daniel Harding and then return lo Eisenstadt, Kronberg and 8onn for a
significanl number of concerts in the Autumn wth conductors and soloists including Julian Rachlin, John Eliot
Gardiner. Robin Ticciati, Alice Coole, Allan Clayton. Kirill Gerstein, Christian Tetzlaff and Augustin Hadelich.
At the end of the year. we look forward to performing with Andrew Manze and Jan Lisiecki before campleling
2023 with a major European lour with Tony Pappano and Beatrice Rana.

THE CHAMBER ORCHESTRA OF EUROPE
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)
staternent of Trustees. responslbllltles
The Trustees (who are also Directors of The Chafnber OTchestra of Etjrope for the purposes of company lawl
are responsible for preparing the Trustees, Report and financial statements in accordance with applicable law
and regul81ions.
Company law requires the Truslees to prepare financial statements lor each financial year. Under that law
Trustees must prepare the flnancial 51alements in accordance wth United Kingdom Generally Accepted
Accounling Practice Iuniled ￿'ngdoM Accounting Standards and applicable lawl. Under company law the
Trustees must not approve the financial slalements unless they are satlsfied that they give a true and fair view
of the state ol affairs of the chaiitable company and ol the incom￿ng resources and application of resources,
including the income and expenditure, of the charitsble company for that period.
In preparing these financial statements, the Tnjslees are required lo..
al select suitable accoLJnting poli¢ies and then apply them consistently.,
bl observe the methods and principles in the Charities SORP.,
cl make judgment5 and estimates that are reasonable and prudent.,
dl stale whether applicable UK accounts'ng standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
el prepare the financial 5latements on the going concem basis unles5 It is inappropriate to presume that
the charitable company will ¢ontinLJe to operale.
The Trustees are ￿sponsIble lor keeping adoqualg ac¢ounling records that are sufficient lo show and explain
the charitable compan¥s transactions and disclose with reasonable accuracy al ariy lime the financial posltion
of Ihe charitable company 8nd enable them lo ensure that the Iinanci81 statements comply wlh the Companies
Act 2006. They are also ￿SponSible lor safeguarding the assets of the company and hence for taking
reasonable 5tep5 for Ihe prevention and detection of fraud and other irregularities.
The trustees are responsible lor the maintenance and integrity of the corporate and financial infonnation
Included on the charitsble company's website. Legislation in the United Kingdom governing the preparation
nd di558rnination of financial statements may differ from legislats'on in other jurisdictions.
The Trustees confimi that so far as they are aware, there is no relevant audit information las defined by
section 41813101 the Companies Act 20061 of which th8 ¢haTileble companls auditors are unaware. They
have taken all the steps that they ought lo have taken as Tmstees in order to make themselves aware of any
relevant 8udit information and to establish that the charitable companys auditor5 3re aware of that inlortnalion.
By order of the Trustees
A(hJA
ohn Peter Abarcromby Readman
Chairman
Date..

THE CHAMBER ORCHESTRA OF EUROPE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE
Opinion
We have aLJdited the financial statements of The Chamber Orch8slra of Europe (the 'ch8rilable COTnpanll for
the year ended 31 December 2022 which comprise the Stal8menl ol Financial Activities lin¢ludlng an income
and exp8ndilure accounll, the Balance Sheet, the Stalement of Cash Flows and Notes lo the financial
statements. including a summary of significant accounting policles. The financial reportlng framework that has
been applied In their prep3ration is appliG8ble law and Uniled Kingdom Accounting Standards, including
Financial Reporting Siandard 102 The Financial Reporting Slanclard appliGablg in the UK and Republic or
Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the linanc¢al statements..
give a true and lair view of the state of the charitable company's affairs as al 31 December 2022 and
ol its incoming resources and application of resourGes, including its income and expenditure, for the
year then ended", and
have been properly prepared in accordance with United Kingdom Generally AC￿pted Accounling
Practice., and
have been prep8red in accordance with Ihe reqtjirements of ihe Companies Act 2006.
Basis for opinion
We conducted our audit in accordanc8 Wth Intemational Siandards on Audiling IUKI IISAS IUKII and
applicable law. Our responsibilities Ljnder those siandards are further described in the Auditor's responsibilities
for the audit of the financial statements section of our report. We are independ6nl of the charilable company in
8ccordanGe with the ethical requirements that are relevant to our audit of the financial ststements in the UK,
including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilits.es in accordance with
these requirements. We believe that the audit evidence we have obtsined is suffiGienl 8nd appropriate to
provide 8 basis for our opinion.
Conclusions relating to going concern
In auditing the financial slalemenls, we have conduded that the Trustees. use of the going concern basis of
accounting in Ihe preparation of the financial statemen15 is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl on the enb'lls ability lo continue as a
going concern for a p8riod of al 18asl tw8lv8 month5 from when the financial stalemenls a￿ aulh0ri58d for
issue.
Our responsibilities and the r8sponsibililies of the Trustees with respect lo going concern are described in the
relevant sects'ons of this report.
other information
The Ttustees are responsible for the other inforrnalion. The other information comprises the information
included in the Trustees, Report other than the financial statements and our auditorfs report thereon. OLJr
opinion on the financial statemenls does nol cover the other information and, except to the extent otherwise
expli¢iVy stated in our ieport. we do not express any form of assurance Conclusion Ihereon. In ¢onne¢tion with
our aijdit of the financial statements, Dur responsibility is lo read Ihe other Information and, in doing so,
consider whether the other information is materially inconsistent with the financial stslements or our knowledge
obtained in the audit or othetwise appears to be materi8lly missts18d. If we identify such material
nconsislencies or apparent material misslalemenls, we are required to determine whether there is a material
misstatement in the financial statements or a rwtaterial misstatement DI the other Information. 11, based on the
work we have performed. we conclude that there is a material misslatemenl of this other infomiation. we are
required to report that fact.
We have nothing lo report in this ￿gard.

THE CHAMBER ORCHESTRA OF EUROPE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE ICONTINUED)
Oplnions on other matters prescribed by the Companies Act 2006
In our opinion, based o>n the work undertaken in the course ol Ihe aLJdit.'
the information given in the Trustees, Report, which includes the D¥re¢lor8' Report prepared for
company law purposes, for the financial year for which the financial slalements a￿ prepared is
consistent with the fi'nancTral statements", and
the Oirectors, Report induded within the Trustees, Report has been prep8Ted in accordance with
applicable legal requirement5.
Matters on whl¢h we are requlred to r&port by exc¥ptlon
In the 1Sght of the knowledge and understsnding of the charitable company and ils environment obtsined in the
course of the audit, we have not idenlifsed materi81 misstatements in the Trtjstees, Report.
We have ncjlhing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept. or relums adequate for ou¥ audit hav8 not been
received from branches nol visited by us., or
the financial stalements are not in agreement with the accounting rewrds and retums., or
ertain disclosures of Trustees, rernuneTation specified by law are not made,. or
we have not received all the information and explanations we reqkjire for our audit., or
the Trustees, were not entitled lo prepare the financial statements in accordance with the small
companies regime and take advantage ol ihe small companies. exemptions in preparing the Trustee5'
report and from the requirement to prepare a strategic report.
Responsibilities of Trustees
A5 explained more fully in the TNstees' responsibilities statement set out on page 7 the Trustees Iwho are
also the Directors of the charitable company for the purposes of company lawl are responsible for thè
pr8paralion of the financial slalements and lor being satisfied that they give a true and fair view, and for such
internal control as the Trustees determine is necessary to enable the preparation of financial slalements that
8re free from material misstatement, whether due to fraud or error.
In preparing the financial siatements, the Trustees are responsible for assessing the charitable companls
ability lo continue as a going concern, disclosing, as applicable. matters related lo going concem and using the
going concern basis of aGGounting unless the Tru51ees either intend to liquidate the charitable company or to
cease operations, or have no realistic alternative bul to do so.

THE CHAMBER ORCHESTRA OF EUROPE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE (CONTINUED)
Audltor's responslbllltlés for tho audlt of the flnancial statements
Our objectives are lo oblaln reasonable assurance about whether the financial statements as a whole a￿ free
from material misstalement, whether due to fraud or error, and to Issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assuranGp, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect 8 material misstatement when il exists. Mis51atemenls can arise
from fraud or error and a￿ cDnsidered material if. individually or in the 8ggregate, they could reasonably be
expected lo influence the economic decisions ol users laken on Ihe basis of these financial statements.
Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, ouilined above, lo detect rllalerlal misslalemenls in resped of
Ir￿gUIar11ies, induding fraud. The exlent io which our procedur85 are capable of detecting irr8gularities,
including fraud is detailed below..
We tailored the scope of our audit to ensure that we perfoimed sufficient work to be able lo give an opinion on
the financia5 statem8nts as a whole. We used the outputs of a risk assessment, aur understanding ol the
company, its environment, Its controls and critical business processes, lo consider qualitative factors in order
to ensure that we obtained sufficient coverage across all financial statement line items.
Our audit procedures were designed to respond lo those Identified risks. including non-compliance with saws
and regulations lirregularilie51 and fraud that are material to the financial statements. In identifying and
assessing risks ol material mis5talem8nl in respect ol irregularities including non-compliance wth laws and
regulations, our procedures included but were not limited lo..
at plannTng stage, we gained an understanding of the legal and regulatory framework applicable to the
charitable company, the industry in which they operate and considered the risk of failing lo comply with
these legal and regulatory requirements.,
we discussed with Trustees and staff members the poli¢ies and procedures in place regarding
compliance with laws and regulations;
we discusspd amongst the engagement team ihe identified laws and regulations, and remained alert
to any indications of non-compliance., and
during the audit, we focused on areas of laws and regulations that could reasonably be expected lo
have a material effect on the financial sl81omenls from our general commercial and sector experionce
and thmugh discussions with Ihe Trustees las required by auditing stsndardsl, from Inspection ol the
charitable companls regulatory correspondence and review of minutes of Trustees, meetings in the
ar.
We also considered those other laws and regulations th8t have 8 direct impact on the preparation ol financial
slaternenls. such as the Companies A¢t 2006 and the Charities Act 2011.
Our procedures in relatson lo fraud included but were not limited lo..
inquiries of Trustees staff members whether they have knowledge of any actual, suspected or
alleged fraud.,
gaining an understanding of the internal controls established to mitigate risk related lo fraud.
using analytical procedures lo identify any unusval or unexpected relationships:
discussion among51 the eng8gemenl team regarding risk of fraud such as opportunities for fraudulent
manipLJlation ol f1nancial statements,. and
scrutiny revlew of unusual transactions and entry into sensitive nominal ledger accounts.
The primary responsibility for the prevention and detection ol ir￿guIar1tieS including fraud rests with the
Trustees. As with any audit, there remained a risk of non-detection Df irregularities, as these may involve
collusion, forgery, inlentional omissions, misrepresentations or the override of internal controls.

THE CHAMBER ORCHESTRA OF EUROPE
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE (CONTINUED)
Auditorfs responsibilities for the audit of the f5nancial statements {continuedl
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in Ihe financial statements, even though we have properly planned and performed our
audit in accordanoe with auditing standards. For exarnple, th& further reTnoved non-compliance with laws and
regulations is from the events and transactsons reflected in the financial statements, the less likely the
inherently limited procedures required by auditing standards would identify it.
A further descripsion of our responsibilities for the audit of the financial stslements Is located on the Finanaal
Reporting Council's website at.. https'.Ilwn*w.frc.org.uk18udilorsr8sponsibilibes. This description forms part of
our Auditor's Report.
USÈ of our report
This report 18 made solely lo the charitable company's members, as a body, in accordance wth Chapter 3 of
Part 16 of the Companies Ad 2006. Our audit work has been undertaken so thal we might slate to Ihe
charitable cornpany's members those matters we are required tu state to them in an auditor's report and for no
other purptsse. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the charitable company and the charitablè ¢ompanls members as a body, lor our audit work, for
this report, or for the opinions we have formed.
Andraw Moss
Senior Statutory Audltor
For and on bèhalf of L*wls Golden LLP
Chartered Accountants alld Stalulory Auditors
40 Queen Anne Street
London W1G 9EL
Dale.. 0610612023

THE CHAMBER ORCHESTRA OF EUROPE
STATEMENT OF FINANCIAL ACTIVITIES
(Includlng an income and expenditure account)
FOR THE YEAR ENDED 31 DECEMBER 2022
Notes
Unreslrl¢ted
Funds
2022
Unrestricted
Funds
2021
Income and endowments from..
Donations and legacies
Charitable activities
781,269
765,178
872,486
2,861,973
Other income
266,015
254,004
Total income and endowments
3,909,257
1,891,668
Expenditure on:
Charitable aclsvities
13.971,2011
11.695,7311
Total expenditure
13,971,201)
11.695,7311
N81 lexpenditurel l income
161,9441
195,937
N8t movement In funds
16
161,944}
195.937
Total funds brought forward
2.209,972
2,014,035
Total funds carried forward
16
2,148,02B
2,209,972
12-

THE CHAMBER ORCHESTRA OF EUROPE
BALANCE SHEET
AS AT 31 DECEMBER 2022
Not85
2022
2021
Tangible f5xed assets
10
4.236
5.649
Current assets
Debtors
Cash at bank and in hand
11
248.005
2,009.737
29,363
2,276,011
2,257,742
2,305,374
Crédltors.. amounts falllng due wlthln one
year
12
1113,9501
1101.0511
Net current asset5
2,143,792
2,204,323
Total assèts léss eurr•nt IlèbllStlès
2,148,028
2,209,972
Represented by:"
Unresiricted inGome funds
2,148,028
2,209,972
Totsl charlly funds
16
2.148.028
2,209,972
These financial statements have been prepared in accordance with the Financial Reporting Standard
applicable in the UK and RepubSic of Ireland IFRS 102112nd edition, 8ffEclive 1 January 20191 and in
accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approvtrd and authorised for issue by the board..
John Peter Abercromby Readman
Chalnnan
Michael Graham Hoare
Trustee
Dale..
The Chamber Orchestra of Europ&
(Company Règistratlon No. 015876841
Icharlty Reglstratlon No. 2834641
The notes on pages 15 to 21 form part of these financial ststemenls.

THE CHAMBER ORCHESTRA OF EUROPE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022
Notès
2022
20Z1
Net cash loutFlowl l inflow from operating acti¥itie5
18
{266.2741
271,877
(Decrease) l increase in cash and cash equivalents during
the year
1266.2741
271.877
Cash and rash equiv8len15 81 the beginning of the year
2,276,011
2,004,134
Total cash and cash equivalents at th• end of th• yèar
2,009,737
2,276,011
14

THE CHAMBER ORCHESTRA OF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Ac¢¢untlng pollclas
1.1 83515 of prèparatitsn
The fi'nancial slatemenls have been prepared under the historical cost oonvenlion and have been
prepared in accordance with Accounting and Reporting by Charities.. Statement ol Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102112nd edition. effective 1 January 20191
and the provisions of the Companies Act 2006 and thè Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021.
The charitable company meets the definition of a public benefit entity under FRS 102.
1.2 Golng concern
The Trustees have considered a period of 12 months from the date ol apprDval ol the financial
slalemenls when considering the going concern status ol the charity. The charity has unrestricted
reseNes of £2,148,028. Thfj￿ are no material uncertainties regarcling the going concern status.
1.3 Income and endowments
(i) Donations and legacies
Income frotm Friends, donations and legacies are recorded on a receipls basis. Donated goods and
services are recorded by recognising an equal donation and expense at the fair value of the resources
received.
(li) Income from ch8ri18ble 8ctlvllies
Revenue from conc8rts and recordings are recorded on the accruals basis.
(iii) OtherAncome
Other Income is fecognise(l on the accruals basis when the charity has enlillemenl to the income. 11 Is
probable that the inCOTne will be received by the charily and the income can be measured reliably.
1.4 Expendlture
Expenditure in the st8lement of finanaal activities is dealt with on the accruals basis and is classified as
follows".
(i) charitable actFvifies
This comprises all costs expenditure incurred by the charity in meeting its charitable objectives.
1.5 Accumulated fund$
The unreslricled income funds represent the funds of the charit8ble company which are not designated
for particular pijrposes.
Any funds receivable during Ihe relevant accounting period bLrt not ulilised aro carried forward a5 part of
total charity fun¢Js.
1.6 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreclation. Depreciation is provided on all tangible fixed
assets at rates calculated to wrile off the cost less estimated residual value ol each asset over its
expected useful life as follows..
Musical instruments
Computer equipment
25Q/¢ reduclng balance
250A reducing balance
1.7 Debtors
Short term debtors are measured at the tr8nsaclion pnce, less any irnpairmenls. Loans re￿1vable are
measured initially al fair value, net of transaction costs. and are me8sured subsequentty at amortised
cost using the effective interest rate melhod, less any impairment.
15

THE CHAMBER ORCHESTRAOF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2Q22 (CONTINUED}
Accounting policies {continuedl
1.8 Cash and cash equivalents
Cash and c85h equivalents are represented by cash in h8nd, deposits held at call wth financAal
institutions and other short-term highly liquid investments that mature in no more than three months from
the dale of acquisition and that are readily convertibl8 lo known amounts ol cash with insignificant risk of
change in value.
1.9 Crèditors
Short term credilors are meaSU￿d at the transaction price. Other financial liabilities, are measured
inili8lly al fair value, nel of transaction cos15, and are measured subsequently at amortised cost using the
effeclive interest rale method.
1.10 Forelgn currèncy
Transactions in foreign currencies are recorded al the rate ruling at the dale of the transaction. Monetary
assets and liabilities denominated in foreign currencies are translated 81 the rate of exchange ruling at
(he balance sheet date. All dIfferen￿S are taken to the Statement of Financial Activities lincluding an
income and expenditure account).
1.11 Music library
No value is placed on the charitable ￿mpan￿$ library of music.
1.12 Presentational currency
The finanaal slalements are presented in Sterling, due lo the corllpany being based in the United
Kingdotn, while the functional currency of Ihe company 15 Euros.
1.13 Penslons
Deflned contrlbutSon penslon s¢h8mo
The company operates a defined contribution schème for ils employees. A defined contribution Scheme
is a pension scheme under which the company pays fixed contributions Into a separate entity. Once the
contributions have been paid the company ha5 no further payment obligab'ons.
The conlTibulions are recognised as an expense in the Statement of Financial Activities lincluding an
income and expenditure account) when they fall due. Amounts not paid are shown In accrvals as a
liability in the balance sheet. The assets of the scheme are held separately from the company in
independently administered funds.
1.14 Financial instruments
li) Financial assets
Basic financial assets, inclLJding trade and Other debtors and cash and bank balances are initially
r8cogni5ed al transaction price, unless the arrangement consts"lutes a financial transaction, where Ihe
transaction is measured at present value of future receipts discounted al a market rale of interest.
SuGh assets are subsequently carried al arllortised cost using the effectiv& inltrresl method.
16

THE CHAMBER ORCHESTRA OF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUEDI
Accounting pollcles Icontlnu8dl
1.14 Financial instruments Icontinuedl
Al the end of each reporting period, financial assets measured at amortised cost are assessed for
objective evidence of impairtnenl. If an asset is impaired, the impairment loss is the difference belween
the carrying amount and the present value of the estimated cash flows discounted al the asset's original
effective inl8rest rate. The impairment loss is recognised in the Sialemenl of Financial Aetivilies
(including an income and expenditure accounll. If there is a decrease in the impairment loss arising from
n event occurring after the impairment w88 recognis8d. the impairmenl is reversed. Th8 reversal is
such that the carrying amount does not exceed what the Carr￿ng amount would have been had the
impaimienl not previously been recognised. The impairment reversal is recogni5ed in the Slalement of
Financial Acts'vitles {including an Income and expenditure 8ccountl.
Financial a55els are derecognised when..
lal The contr8ctiJal rights to the c85h flows from the asset expire or are settled,. or
Ibl Substantially all the risks and rewards of the ownership of the asset are transferred lo another
arty,. or
Icl Control Df the asset has been transferred to another party who has the practical ability lo
unilaterally sell the asset to an unrelated third party without imposing addib'onal restrictions.
Illl Flnancial liabiif(ies
Basic financial liabilities, including trade and other creditors that are classified as debt are initially
recognised at transaction pric8 un18SS the arrangement constitutes a financing Iransaclion, where the
debt Instrument is measured at the present value of the future payrnents discoLJnled at a market rate of
interest.
Debt instruments are subsequently carried al amortised cost, using the effective interest rate method.
Trade ¢reditors are oblig8tions lo pay for goods or services Ihat have been acquired in the ordinary
course of business from suppliers. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
Financial liabilities are d¢￿cOgniSert when the liability is exlinguished, this is when the contractual
obligation is discharged, cancelled or expires.
liiil Offsettlng
Finan￿al assets and liabilities are Dffset and the net amounts presented in the financial slatemenis
when there Is a legally enforceable right lo sel off the reG￿niSed amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liability simultaneously.
2 Income and endowments- charitable activities
Income generated from charllable activllies is stated net of valLJe added tax, and represents amounts
invoiced to third parties.
3 Other income
2022
2021
EU VAT reclaim
Royalties
Insurance claims
Orchestra lax relief
956
2,795
3,462
14,214
12,746
223,582
262,264
266,015
254.004

THE CHAMBER ORCHESTRA OF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 {CONTINUED)
Expenditure on charitable activities
Notes
2022
2021
Dlrect..
Players, fees and expenses
Tour management fees
Travel expenses
Artists, fees
Performance related costs
Withholding tax
1.501,670
104,399
1.131.511
489,640
384,799
47,226
617,433
104,399
246,359
107,379
185,655
17,795
IndSr*ct:
Wages and salaries
Employer's national insurance
Pension contributions
Telephone, postsge. printing and sundry office supplies
Fore1gn exchange losses
Govemance costs
182,582
17,406
10,817
26,805
9,513
64,833
179,086
16,636
11,133
42,555
107,555
59,746
3,971,201
1,695,731
Players, fees and artists, lees inelLJde payments made to independent professionals for the provision of
Se￿iceS to the Orchestra. These fees include subsistence costs where 8ppli¢able,
Withholding tsx is deducted frorn gross concert fees for performan¢¢s in Germany and is non-
recoveiable duo to the Gharilable company not being liable for corporation lax.
Govoman¢e ¢o$ts
2022
2Q21
Auditor's remuneration
Accountancy lees
Bank charges
22,888
28,560
13,385
18,113
27,204
14,429
64,833
59,746
Audltor's remuneration
2022
2021
ALJdit fees
Accountancy and other semces
18,599
4,289
14,631
3,482
22,888
18,113
18-

THE CHAMBER ORCHESTRA OF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 {CONTINUED)
Donations in kind
During the currenl and prior year, the charitable company benefited from the provision of office facilities
and equipment made available by Friends of the charitable company. The Ttustee5 ao of the opinion
that it is not practical to quantify this donation in kind, ss the work required in obtaining professional
8dvice would outweigh any possible benefit. In the prior year the charit3ble company also received a
donation in kind by way ol a reduction In audit fees of £2,750 for services provided by Lewis Golden
LLP. This donation in kind was not recognised in arriving at the net expenditure for the prior year.
Taxatlon
The charitable company is a registered charity and is not liable to corporation lax in Ihe United Kingdom.
Staff costs
2022
2021
Wages and salaries
Social security costs
Pension contributions
182,582
17,406
10.817
179.086
16,636
11,133
210.805
206,855
Average number of employees during the year".
2022
Number
2021
Number
Adminislralion
No employee re￿iVed emoluments exceeding £60.000 in the current or prior year.
During the current and prior year none ol the Trustees lor 8ny persons connected with them) received
any remuneration or reimbursement of expenses.
19

THE CHAMBER ORCHESTRA OF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)
10 Tangible fixed assets
Musical
Instrum&nts
Computer
equlpment
Total
Ctsst
At 1 January 2022
44,178
3.236
47,414
Additions
At 31 December 2022
44.178
3,236
47,414
Dopre¢l#tl¢n
At 1 January 2022
38,606
3,159
41,765
Charge for the year
1,393
20
1.413
Al 31 DeceFnber 2022
39,998
3,180
43,178
Net book value
At 31 December 2022
4,180
56
4,236
At 31 December 2021
5,572
5,649
11
Debtors
2022
2021
Trade debtors
Other debtors
Prepayments and accrued incorne
226,288
12,765
8,952
7,804
21,559
248,005
29,363
Financial assets that are debt instruments measured at amortised cost comprise trade debtor5 and
accrued income amounled to £226,28812021'. £nill.
12 Credltor5: amounts fallSng due wlthln one year
2022
2021
Trade creditors
Taxation and social security
Accruals and deferred incorne
84,925
7,525
21,500
34,040
6,842
60,169
113,950
101,051
In Ihe current year, accruals and deferred income includes £nil 12021.. £41,669) of deferred income in
relation lo concerts to be performed in the upcoming year.
Financial liabilities measured at amortised cost comprise trade creditors, general accru815 (excluding the
audil fee a¢cruall amounted to £84,92512021.' £34,040).
-20-

THE CHAMBER ORCHESTRAOF EUROPE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 {CONTINUED)
13 Contingent assets
The conb'ngent asset that has not been recognised in the Balance Sheet is the potential orchestra tax
relief receivable for the year ended 31 Decelnber 2022. Th8 Trustees expect to make a claim, however
the v81ue and timlng of this receipt is uncertain. The Trustees hope to receive approximately 50 /0 of the
eligible expenses.
14 Status of the charitable company
The charitable company, a registered charity, is a company IiTllited by guarantee and not having share
capital. The subscriber5 to the Memorandum ol Association, and any other persons which the
committee admit, are members of the charitable company. At present. ihe membership is 312021.. 3),
each member guaranteeing Lhe charitable company up lo an amount of £1. There is no controlling party.
15 Related party transactions
There were no related party transactions or ba18n¢es during the Currenl or prior year.
16 Total charity fund5
2022
2021
At 1 January 2022
Nel lexpenditurel l income
2.209,972
161,9441
2,014,035
195,937
At 31 December 2022
2.148,028
2,209.972
17 Analysis of net assets
2022
2021
Fund balances as a131 Decémber are ￿presented by..
Fixed assets
Debtors
Cash at bank
Creditors.. amounts falling due within one year
4,236
248,OC15
2,009.737
1113,9501
5,649
29,363
2,276,011
1101,051)
At 31 Decembei
2,148,028
2,20g,972
All funds are unrestricted.
18 Reconciliation of net movement in funds to net cash flow from optratlng aetivltlÈs
2022
2021
Net rnovement in funds
Add.. depreciab'on charge
Inereasè in debtor5
Increase in creditors
161,9441
1,413
1218,642)
12.899
195,937
1,884
18431
74,899
Net cash loutflowl l inflow from operating activities
1266,274)
271,877
21