2024-12-31-accounts

Cornpany Reglstratlon No. 01587684 (England ond Wales) Charlty R8gistratlon No. 2B3484 IEngland •nd W¥le¥? THE CHAMBER ORCHESTRA OF EUROPE (Llmited by guarantee and not having share capital) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE CHAMBER ORCHESTRA OF EUROPE CONTENTS Legal and administrative informst￿n Trustee8' report Inde￿ndant auditor's report 8-11 statement olfinanBid activities Ilnduding income ond expenditure c¢ounll 12 Balance 8heol 13 Statement ol cuh flo 14 Note8 lo th• financi418taternents 15-21

THE CHAMBER ORCHESTRA OF EUROPE LEGAL AND ADMINISTRATIVE INFORMATION Tru8lee¥, DlrnctOTB and Executlve commlttee John Peter Abercromby Readrn8n Michael Graharn Hoare James Judd S•¢r•tsry Michael Graharn Hoare C¢ynp•ny Regl¥tr•tlon No. 01587684 Charlty R•gl•trallon No. 283484 Prlnclpal offle• North House 27 Great Peter Street London SW1P 3LN Re91•ter￿ offl 40 Queen Anne Stre6t London W1G gEL Audltor• Lewis Golden LLP Chartered Accountant8 and Stslulory Auditori 40 Queen Anne Street Lond¢n W1G 9EL 8•nkern C Hoare & Co 37 Fleet Street London EC4P 4DQ Sollcltors BDB Pilrnans LLP 1 Bartholornew Ck)8e London EC1A 78L Web•lt• wvM.coeurope.org

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 The Trustees Iwho 8re also the Director518re pleased tc present their report, together With Ihe finanool slatelnents of the company for tha year ended 31 Oec8mber 2024 which a150 represents the Directors. report as required by 9415 of the Comp8nles Act 2006. The financial statements have been prepared In accordance wth Accounting Rèporting by Ctharitie$.' Statement ol Recommended Practice Applicable to Charities Prep8ring their a¢counls in accordance with the Financial Reparting Standard Applicable In the UK and Republic ol lrtland IFRS1021 12nO Edition, effective January 20191 I"Charilies SORWI. FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Iroland,. Compgjnies A¢t 2006 and the Memorandum and Articles ol Association. The eompany and Its eharftabl• obl•c¢ivoJJ for th• publlc beneflt The Chamber Orchestra of Europe ICOEI Is p company limited by guarJnle• and not having Share copital (Comp8ny Regislr8licn No 015876841. 111$ govemed by 11$ Mefflorandum and ArtideB ol A88ocialion dated 25 September 1981, and Is a registered charity (Charity Registration No. 2834841. Legal and gdminislrative information, as set out on page 1, forrns part of this report. The objectives ol the Orcttèitra are to promote the pertormance ol work8 ol cla88ical rnusic 80 ai to increa18 publiB18sle and 8ppre¢i¥tstsn lor thè art of music. As wall a8 b8ing Leaders and Prinop818 ol other rna1￿ orchestra8, the players pursue par•1181 careor$ a8 International sdoists, rnemberB of celebr8ted chamber ansambles. gnd @s professors ol rnusic. Un5urpri51nyty. the Chamber Orcho$lra ol Europa philosophy inlluance8 the players, own work during the rest cl the year, notably In o vAde ran9e ol educational proieus in which they are involved. making tme OrcheBtr truly Impressive ¢xample cl co-operaiion between individual European nations, The Charnber Orchestra of Europe 16 now a re51denl or¢heslra al the Casals Forurn in Kronberg in assoaalion with the Kronberg Academy and ig also the "Orchestra In Residence" al the Eslerhazy Palace in EIBenstadl outside Vienna. In recent years Il has mainloined Ils associalions with 8 group ol major concert halls and festivals across the continent including the ConcertgeboLrn in Amslerdarn, the Kammermu3iksa810l the Philharmonie In Berfin, the Teatro Comunale In Ferrara. the Philhermonies In Paris and Cologne, the Festspielhaus in 8aden-8aden and the Salzburg Moz8rtwoche Feslival These residencvs pgrlnerJhip$ enhance the Orchestra'6 flnan¢ial and 81b8b"c ability to incre88e Ils profib and ensure that its objective6 Can be iustained in the long term. The Chamber Orchestra ol Europe Academy wa5 developed in 2009 in crder lo give selected 8ludenl$ the chance to study wth the prinapal players ol the Charrber Orchestr8 of EurDP8 and be Inspired by the Orch8stra's unique ethos And p8sslon for making mu51C. The Tru61ee5 confirrn that In accordance with section 4 01 the Charities Act 2006 they have referred to the Charrty Comm15sion's gener¥1 guidanca on public benefit when reviewing the Charity's aims and objective5 and in planning their lulure actsvitie8. OryanI•￿IOn The charitable company's adrninistraticn Is under the control ol the Trustees. The Trustees durlng the year to 31 December 2024 were" John Peter Abercrornby Readman (Chairman) Michael Graharn Hoare Isecretaryl J8mes Judd (Director) No Trusteeloirector received any remuner81ion in Ihe year to 31 December 2024, and no travel or other expenses were paid on behalf of any Tru$te&.

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 {CONTINUED) OTganl•ation Icontsnuedl The Orchèstra ènga9es a General Manager who 16 responsible lor day-ltrday op8ration5 and deci5ioTrrn8king in conjunction with the TrusteeslDirectors. The TruBtee8lDirectors are all experieneed and make themselves aware ol ChaThty and Company law and other change8 to18W8 8nd regulobons whlch impact tha Orchestra's operations, Method of appolntment ol Truste•8 The appointrnent ol Truslee8lDireclorn is governerj by the Mamorandum and Articles ol Association. In accordance wth Ihg tharitable company'5 Articles of Association James Judd retire5 by rotation and, being eligible, offers him¥eif for re-Eiect1Un. R••ults lor the year ended 31 Deeember 2024 The re8ults lor the year on page 12 01 the Iin8nci81 slalements show a net movernent in the year of £619,528 12023. £711.2461 in￿e8$in9 reserve6 81 the end ol the year lo £3.478,80212023 £2,859,274). Achl•v•m•nt• and P•rforni•ne• On 131 February, the Orchestra returnèd to the $812burg M¢z8rtwoch8, Performing works by Mozart, Salieri and eeelhoven with pianist Kirill G8rstin. who made his COE ¢Jebut In Kronberg 1831 Septernber. Tho OrcheBlra was led and directed on this occasion by Polish violinlsl Maria Woszczowska who subsequently accèpt•d our invitation, In September, lo join the COE family 88 LeaderlDir8clor, 8 POSltion she now shares with Lorenz8 Borrani. The concert In Salzburg WaB followed on 2nd February by a Friend8, concert in Kronberg al the Casals Forum where the COE has bean re8id8nt orchestra since the hall's opening In September 2022 In Apnl, the COE started Ils Spring tour in Athens where it was joined by Greek conductor Con$lantino8 Carydis and Canadian pianist Jan Li5iecki. Together they ￿rforMed works by Schnittke, Koukos, Shostakovieh, Beethoven and Ive5 on 201h April. Jan Lijiecki then ioineil th• COE in Beelhoven's Piano Concerto No. 4. which wa6 followed by Sh¢$takovich's short Pr8lude No. 3 from TweDty-Four Prelude5 lor Piano. After the interval, the COE performed Ch¥rl•$ Ive8, Hyrnn." Largo Csnl8bile, followed by Beethoven'8 Symphony No. 4. After Ils Athenign 8¢venlure$, the COE was joined by Joshua 8ell in Murcia, Spain. whertr they iehegr80d and performed 8eelhoven's Egmont Overture. Symphony No, 4 and Br8hm$'s Violin Concerto on 23rd April. We travelled lo Zaragoza on the 24th and lo Luewigsburg Dn 26th. Joshua Bell as8urneLI three different P05ilion5 in these concerts. directing the Orchestra Irorn the Leader's seal in the Overture, as the 501ci51 In the Concerto and al the front of the orchestra as conductorldirector in the Symphony. The Orchestra continued on to 8tsd8pest to open the Spring Festival with Miklos Prényi gnd Ben Gllmore on 29th April with a concert at Budapest's Italian Cultural Instituté. This concert also celebraled the 20th anniversary ol Hungary's accession to the EU The cancert wa8 directed by Ben Gilmore ￿0 had a150 ¢Jev1sed the prograrnrne.. Vere55'5 Four Transylvanian D8nce8, HAydn's Cello Concerto in C, Liszl's Angelusl Prière a l'ange gardien larranged lor String orcheslr818nd Bortok's Divortimento.

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 ICONTINUEDI Achi•vementi and Perfonnance Icontlnuèdl Our next tour, In May wth sjanisl Sir Andras Schiff, started with a chamber music concert In the contexl al Sir Andras's 8uilding Bridges Inits81ive. Building Bridge5 helps talented yDung pianists lo emerge In today's classical music world Ihrough reoials and thalnber music concerts. The two pianists involved in this concert were Martlna Consonni and Ital Navon, both alumni ol the Building Bridges project. Together with COE Leader Lorenza Borr8ni, viola Nimrod Guez and COE co-principal ￿110 Richard Lesler, they performed ch8rnber works by Haydn. Doht)anyi and Brahms al the Schloss E51erhazy In Eisen51aat on 22nd M8y This chafflber music concert was lollowed on 26th May by a full orchestr8 concert wth Sir Andra5 and COE Soloists al the Schlos5 Esterhazy featuring Br8hms'$ Haydn Variations. H8ydn's Sinfonia cc￿certanIe for Oboe, Bassoon, Violin and Cello 8nd Brahrns's Piano Concerto No. 1. The same programrne was performed in Harnburg Dn 28th M8y, Bergamo on the 20th lin the context ol the Piano Feslivall and Ferrara on 1 st June. Later In June, the COE performed 8 serie5 of five concert5 with Sir Sirnon R3llle 8nd wile, mezzo-soprano Magdalena Ko*ena- this time, travelling to Eisensladl, Lugano. Evian's RenGontres Musicales, Ravenna an(J Athens, where trey were part pf the Epidaurus Festival the modern version of the festival Ihat Aristophanes 8nd Euripideo wrote for two hall Ihou$8nd year8 8go. The programrne featured Dvorak's Scherzo Capnccioso, Mahlef's ROck8rt-Lieder, 8artok's 5 Hungarian Folk Songs and Schubgrt's 'Greal" C Major Symphony. We were delighted that, following our perlormance in Evian. Sir Silnon accepted our invitation to become one ol the COE'S Honorary Members, a tille he now share5 with Yannick Nèzel-sèguin gnd Sir Andras Schill, following In the foolsleps ol Nikolaus and Alice Pl8mon¢ourt and Bernard Haitink. In July. lor their ye8rty concert series at the 8aden.8aden Feslspielhaus in Gerrnany. the COE and Yannick Nézel-séguin performed M8lher'8 Rtsckert.Lieder and Mahler's Symphony No. 4 with Joyce Di Donalc on 20th July, followed by Schubert's 'Unfinished' Symphony and Beethoven's Piano Concertos Nos. 4 anrj 5 with Korean pianist Seong-Jin Cho on the 21st. In addition, Yannick Nézet-séguin lon the piano) and Joyce DiDonato were joined by COE soloists Marièka 818nkests'in. Maia Cabeza Iviolinl, Nimrod Guez Iviolal and William Conway Icellol on 19th July lor a chamber music concert featuring Brahms lieder and Elgar, pian¢ quintèt ap. 84.At the same time as our concerts in Baden-Bad8n. Deulsche GrammDphon relea8Èd the iecording al our Brattms Symphon1es, recorded live in Baden-Baden in 2022 and 2023 with Yannick. On 31 sl July COE Leaderloirector Lcrenz8 Borrani. ¥lnngJ and clarinets look fiighl to Northern NO￿aY where Ihey joined mezzo-soprano M9rianne 8eale Kielland IDr the opening con￿rt ol Ime Nordland Music Festival al the 51ormen Concert H?11 In 8odo on 3rd August. This concert took the COE further north than ever belDre and Il had been rnany months in the making. a celebration ol Bodo being one of the European Capitals ol Cultura lor 2024. fhey performed 30ngs by Grieg, Schubert ?nd Mahl#r as well 88 Mèndels8ohn' Konzertsltsck No. 2 and Beethoven'5 String Quartet No, 11 larranged for strin9 orche$lr¥ by Gustav Mahler). In SeptÈmbÉr tha OrchÈ8lra réturned to ils Austrian home in Eisensladt to perform concerts Bl Ihis year. Herbstgold Festiv81. Resident orchestra at the Schloss Esterhazy since 2022, the COE ￿gUlarlY appeals In the Palace's programme ol events every year and we are delighted that the Eslerhazy Foundation has now extended our residency until 2027. This year's Festival was about 'yearning' On 11th Septefflber the Orchestr8, led by Marieke 81anke51iin, openecl the Fe5b"v81 with pianists Martha Argench and Iddo &r-Shai and narrator Annie Duloit-Argerich In a pérformance of Saint-saéns's Carnival of the Animals and Haydn, Symphonies Nos. e2 and 100 This concert was broadcast live on medici.tv and also on the Austrian r8dio slatlDn ORF 1 on 22nd October On 14th September for our second concert at the Palace, the COE was joined by conductor Julian Rachlin And pianist Yelim 8ronfman in BeElhoven's Piano Concerto No. 3 and T¢haikovsky's Symphony No. 4. This concert was broadcast live on medici.tv and also on the Austrian TV ¢h?nnel ORF 111 al a later dale. It wa5 during our stay in Eisensladt thal we inviterl French horn player Benoil de Barsony to become our principal hom, 8 Pcsltion he g18dly ￿cepted and whirh he now 5hare3 With Jasper De Waal.

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) Achlevernents and Performanco Icontlnuodl In September we were delighted to have been invrted back to Belgiurn. th15 lirn8 lo op8n the new Season at desingel in Anlwerp and as part of the Fl8nder5 Festival In Ghent For these two Con￿rtS, we were joined by two rising slar5 conductor VAléntin Uryupin and Salzburg-bom cellist Julia Hagen. The concerts were Valentin's debut with the COE and the repertoire Included 8artok's Romanian Folk D8nces, Prokofiev. Symphony No. 1 'Classical', Schumann's Cello Concerto and Shostakovich's Charnber Symphony No. 1 larr. 8arshail. Our concert on 19th September wa5 broadcast live on ￿ara Radio. Followng 115 stint In Beiqium, the COE returned lo Il¥ Kronbarg T&si¢Jency Iof o number of concerts at this ye8r'8 Kronbprg ABgderny Festival. Sadly. our good friend and COE Honorary Member Sir Andra$ Schiff was unable to join u5 85 planned as he had broken his leg. We were very fortunate to be led by Maria Mho52czow$ka, who was also the soloist in 8ach's Violin Concerto No. 2 on 29th September. Other so1015ts lealuring in our live concert5 included Martin Helmchen, Kirill G8rsl8in, Marlina Consonni, Stephen Waarts and our very own principal flute Clara Andrada. On 25th Seplemtser, Heinz HL41iger, who lurn¢d e5 on 2151 May, conducted Ihe COE winds vAth pi8nist Kirill Ger5tein and violinist Ilya Gringolls in a performance of 8erg's Kammerkonzert. On 28th Seplernbei, the COE and Maria Wloszczowsk8 joined by Bolois16 Martin Helmchen, ￿.￿11 Ger5tein. Co3im8 Soulez Lariviere and Oliver Herbert ￿9Ve two concerts, performing works by Haydn and Beglhovgn. The second ¢oncert also featured pianist Martina Consonni, one of Sir Anlra5 Schiff'5 Building 8ritJges artists. On 25th September, they again perforffled tWlC8, thi8 time In a progr8mrne by 8ach and Mendelssohn. The first concert featured $oloist8 Clara Andrada ICOE principal Ilulel and Stephen Waarts (violinist and Kronberg Academy alurnnusl. Maria WIos2czowsk8 WAS Ihe 8010151 In the second concert in a performance o18ach'6 Violin Concerto No.2. In November, lor the 1891 tour of our 2024 season. the COE 8n¢ one ol its clo8esl friends, Sir Antonio Pappano. were joined by Freneh pianist 8èrtrand Chamayou lor his COE debut. Incredibly, Bertrand pÉrlormèd In all thè works on the programme- lor each concert two Bolos and orchestral pieces. The18Z2- Ins￿re{j toe-tapping Franch-American programrne included Milhaud's La CréaliDn du Monde, RAvèI'J Piano Concerto In G (alternating with Saint-saens's Piano cr￿Cert0 No21, Gershwin's .1 gol rtythm" variations and Ihe uplifting 8ern51ein's Fancy Free ballet. The tour startèd in Italy, wth perloimances in Rho, Brescia, Modena, Turin and Udine before moving on lo Asthaffenburg, near Frankfurt In Gèrmany. The COE ended the tour In France with conc¥rts In Dijon and Paris, two venues we had not visited since before the Covid-19 panojemic These concerts were g great way to bnng 2024 to 8 close and cernent our close triendship with Sir Antonio Pappano. Flnanca and *pon•oY•hlp We continue ID be very lortunalE lo ben¢fil Irom the 8ignificJnt 8UPPOrt ol The Got8by Charitabb Foundation and Irom our progr8mrne ol support ol the Principal positions In the Orchestra In 2024 we beneliled again from a meaningful grant towards our eligible expenses Irorn HMRC under 115 orchestia tax relièl sch8me which was Introduced In April 2016. Reierve8 Pollcy At the end of the year the Orch88tra hBd rÉsèrvÉ& of £3.478,80212023." £2,859,274). rhe Orthestra requires a level of reserve5 to ensure sufficient resources to 5UPPOrt 8 prDgrarnme ol activity that Involves development some year$ in advance. The Trustees also consider il appropriate to Mave a cetsin level of reserves lo rniligale some ol th¢ risks associated with working across Europe al a time of uncertainty caused by the effects of the war In Ukraine and the change5 to the UK government lax credit scheme from 1￿)rI1 2024 when it was no longer possible to make claim5 for eligible cos18 Incurr￿ outside the UK Thi5 change reduces signific8ntly the support we have received every year since 2016 and is tha reason tre Orchestra is holding higher level of reserves Ihan in previous year. The ￿serVeS of the charity are con$ianUy reviewed by the Trustees to ensure Ihey are appropriale lo support the activrtie5 of the chanty The Trustees set budgets at the start ol the year and review actual Incorne and expenditure against these budgets al regular Tru51ee rneetings.

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) Major Rl¥k8 The major risks to which the COE 18 exposed are constantly reviewed by Ihe Trustee5 and, to tha •xtènt possible systems have been put In place lo mitl9ale those risks. Specifically. these Inclucje dealing with the m8s51ve consequences of BreKlt, Covid and Ihe war In Ukraine to whith the COE is as vulnerable as any British orchestra. However, wilh the heallhy level ol reserves and additional grants from The Gatsby Chyrrt8ble Foundation theie Is every pr95￿¢1 Ih81 the Orchestra remains in a reasonable p051tlOTI to weather the Eurrent uncertainties. Futufe actlvitl The Orchesira could not hAve 6t8rted 2025 in a more meaningful way vthth its lir8t cOn￿rt al the Kammermusiksaal of the Beilin Philharmonie on 28 January, joined by our long-stsnding friend and conductof Robin Ticciali ancj world-class counter.tenor lestyn Dav1es. Our concert In B8rlin w85 th8 12oin concert that the Orchestra has presented in the Karnmermusik6a81 and Grosser Saal of the Philharmonie so the evening was a very auspicittua occasion. le51yn and Robin had crafted a particularty inspiring programme cornbining works by Handel 8nd Mttzart which eontsnued on lour lo the ElbPhilharmonie in Hamburg, the M02artWoche In Salzburg and Les Sommels MuBicaux in G8laad. We are delighted lo announce the important news that during the tour the COE musicians Invited Ro￿n lo bÈcomè an HonorAry Member or the Orcheslra, a position thai he &c￿pIed and now shares with Yannick Né28t-Séguln. Sir Simon Rattle and Sir Andra5 Schill. That Robin is a kindred spirit was already clear lo us at Iht vèry start ol our ielati¢nship 10 ye8r3 ago. and 81nce this Iirne our a$soaation has continued to flourlsh and grow. Fdlowing the $urxe$slul b¢ginning to tho year the Orchestr8 started a marathon tour ol Europe (including Berlin, London. Toulouse. Eisensladt and Liège) before 9ivins lour concert$ In South KDrèa with th8 wèl nown South Korean pianist Sunwook Kim, In June the Orche$lr? is undertaking Its first ever trip lo the Bravo Vail Festival In Colorado and then returns to Bgden-Baden in Juty with Yannick Nézet Séguin lor three Conceris Including Moz8rt'5 late syrnphanies and his Mas5 In C and Requiem. In the oulumn we have a major tour with Robin Ticciali conduding with our first retum lo the BBC Proms in London since 2018. We are then looking fO￿ard lo conGerts with Sir Andras Schill in Eisensiacjt and Kronberg before a European lour with Sir Anthony Papp81￿ Finally, we will be undertaking a European tour with Yannick Nézel Séguin, giving Gon¢eris In P¥rl$, Luxembourg and Prague before returning lo CarnegiB H811 in New Yurk and playing the19$1 two ¢on¢er¢s ol the year in Philadelphi8 and Ann Arbor. Statemènt of Tru•t•e•' reipon•lbllltl•• The Trustees (who are also Directors of The Chamber Orchestra of Europe lor the purposes ol company lawl are respon5iNe lor preparing the Trustèès, R*part and financial statements in accordance with applicable law nd regulalionB. Cornpany law raquires the Trustees lo prepare financial statements for each lin8nEl81 yèar Undér that law Trustees must prepare the financial statements in 8ccordBnce I￿1h United Kingdom G8ner8lly Accepted Accounting Practice (United Kingdom Accounting stsndards and applicAble lawl. Under company law the Trustees must not approve the financi8151aiemenl$ unles$ they are satisfied that they give a true and lair view ol the 5t8le of affairs ol the charitable Cornpany and of the Incorning resources and application of resources. including the incorne and expendilufg, ol tho ch¥ritable rgmpany lor that period.

THE CHAMBER ORCHESTRA OF EUROPE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 (CONTINUED) Statement of Trusteei, rMponlbSllUt• Icontlnuedl In prepariny these Iinanaal statements. the Trustees are required to. al select suitable accounting policies and then ap￿Y them consi$lently', bl observe the methods and principles in the Chaiilies SORP. cl make judgrnen15 8nd estimates that are reasonable and prudent, dl State whether 8pplicabl¢ UK accounting standards have been followed. Bubject lo any matertal d8partures disdosed and explained in the financi81 statemenls,. and el piep8re the financial statements on the going concern ba515 unless rt is Ingppropriale lo presurne that the charitable cornpany will continue to operat8. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show 8nd explain the ch8rllable company's trsnsactions 8nd disclose with reasonable accuracy at any time the financial po8ition of the chant8ble company and enable thern to ensure that the finannal 8tatemenl6 compty with th8 Comp8n1è5 Act 2006. They are also responsible for 58feguarding the assetj of the Company and hence lor taking reasonable Steps for the preventlon and detection ol fraud an¢ other irrtrgularities. The trustee6 are responsible lor the maint8n8nca gnd Integrity ol the corporate and financial Inlorrnhlion included on the chanlabl8 company's website. Legislal'on in the United Kingdom governing the preparation 8nd d18semination ol financial slatemenlB may differ from legislatlon In olheriur15didi¢n$. The Trustees confi'rm that BO lar 85 they are aware, there 18 no mlevant audit inlDrmation la8 delined by section 416131 of the Companiès Act 20081 DI which the charitable company's auditors are unaware. They ave taken all the steps that they ought to have taken 88 TrusleeB in order to make themselv81 awarè ol any relevanl au¢Jit 1n1ormati￿ and lo establish that the charitable cornpany'8 ?udilors ar8 Aw8r8 of that inlormatr'on. By crfder ol the Trustees John Peter Abercromby Readman Chalrnin Date.,

THE CHAMBER ORCHESTRA OF EUROPE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE Oplnlon We have audited the financial stalernenls of The Charnber Orchestr8 of Europe Ithe 'charitable company'l for the year ended 31 Decembér 2024 which comprise the Statement ol Financial Aclivib'e5 (including an Incom8 and expenditure accounti, the 88lance Sheet, the Statement of C8sh Flows 8nd Notes to the finan￿81 51alemenl8. Induding a summary ol significant accounting policies. The fin3ncial reportin9 framework thal has been applied in their preparabon Is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 Th8 Fin8nci81 Reporting Slandard applicgble in the UK and Republjc ol Ir818nd (United Kingdorn Generally Accepted Awounting Practice). In our opinion, the financial slalemenls. glve p true and fair view ol thè stale ol the charitable COm￿ny,5 affairs as at 31 December 2024 and ol Its Incoming re60urces and application of re50urc88. including Its income and expenditure, lor the year then ended., have been property prepared in accnrdance with Unitad Kingdom Generally Accepted Accounting Practsco, and have been prapared In accordance wth the requirements ol the Cornpanies Act 2006. 8a•l• lor oplnlon We conduded our audit In Sccordance with Internation81 Standard6 on Audillng IUKI IISAS lu￿) and 8pplicable law. Our re5ponsibililies under those s18ndard5 are lurther d88cribed In the Auditor's respon8ibililies lor the audit of the financial $18ternent8 section ol our report. We Are Independent ol the charitable cornpany in acc¢xdance with the ethical requiremsnts that ar8 relevant lo our audit ol the financial st8ternent5 in the UK. Induding the FRC'¥ Ethical Standard, and we have lulfilled our otmer ethical responsibililie$ in accordance with these requirement6. We believe that the audit evidence wè hav8 obtained 1$ 8ufficient and appropriate to provide a basi5 lor our oplnion. Conclusloni rnlatlng to golng conc•rn In auditing the financial slatemon18, we have concluded that the Trustees, use ol the going concern ba313 01 8ccounling In the preparation ol the financial statements is appropriate. Based an the wcfk we have performed, we have not Identified any malenal uncertainlie8 relating to events or conditions that. individually or collectively, may cast signilic8nt doubl on th¢ entity's ability to continue as going concern for 8 period ol al least ￿e1ve monlhs from when the finanoal statements are aulhori8ed for i53ue. Our responsibilities and the responBibilities ol the Trustees with respect lo golng Concern are d&s¢ribed In tha relevant sections ol this ￿pOrt. Oth•r Inforni•tlon The Trustees Jre re$ponsibl& for th8 other information. The other inforrnation cornprises the Informoion included In the Truslee$' Report other than the financial 5talernents and our auditcr's report thereon. Our opinion on the financial statements does not cover the other Inforrnation and, except to th¢ extent otherwisa explicitly stated In our report. we do not express any forrn of assurance ccnclusion Ihereon. In connectson with our audit ol the financial statements. our ￿SPOnSIbl111Y 15 to read the olher Inlorm8lion 8nd, in (Joing so, consider whether the other Inform3tion Is materially inconsisienl with the finanual slaternenls or our knO¥￿edge obtained in the audit or otherw15e app88rs to be rnateri811y misstated. If we identify such material inconsistencies or apparent rn8teri81 misStaternent5, we required to determine whether there is a rnaterial Misstatèment In th8 ￿nanual statements or a material m15Stalemenl of the other information. If, based on the work we have perforrned. we CL)nclude that there is a material misstalernenl of this other inforrnalon, we are quired lo report that fact. We have nothing to report in this regard.

THE CHAMBER ORCHESTRA OF EUROPE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE (CONTINUED) Opinion¥ on other matter8 p￿scrIbed by the Companles Act 2006 In ouf opinion. based on the work undertaken In the course DI the audit the Information given in the Trustees, Report. which Includes the Directors, Report prepared lor cornpary law purposes. for the financial year lor vthich the finanoal statements are prepared i consi8tenl with the financi81 statements.. and the Direthors, Repon Included within the Trustees, Report has been prepared in accordafj¢e with applicable legal requirements. M•tt•r• on whlch we are requlred to report by ¢xeeptlon In th8 li9ht of the knowledge and understanding of the charitable company and 115 environrnenl obtained In the course ol the audit, we have not identified material rn155tatements In the Tru&lees' Report. We have nothing to report in respect of the follovAng matters In relation lo which the Companies Act 20C requires us to report lo you If, In our opinion: 8dequ8le accounting records have not teen kept, or return8 adequate for our audit have not baen received from branches not wsiled by UJ., or the Iinanci81 statement5 are not in agreement with the 8¢c¢unling fecord8 and relums." or certain disclosures ol Trustees, rernuneraticn sperjfied bylgw orè not made., or we have not received all the information anij expl8naliun5 we require lor our audit., or the Truslee5' were ncl enb'lled lo prepare th8 financial statements in accordance with the Bmall companies regime and take advantage of the srn811 companias. oxemplion8 In preparing the Truslaes, report and Irom the requirement to prepare a Strategic report. Respon¥lbllltI￿ ol Truit•v• As oxplained more lully in the Tru$lee8' responsibilities statement Bet out on page 8 and 7 the Tru51ee5 (who •re also the Directors ol the charitable company for the purposes of company lawl 8re re$ponslble for tha preparation ol the financial 81alementB and lor being satisfied th81 they give a true and lair view, and lor such Internal control a5 the Trustees determine 18 necessary 10 enable th¢ preparation of financial statements that are free from material misstslernent, whether due lo fraud or error. In preparing the finanoal st8tèments, the Trustees are responsible lor aBSe3￿ng the charllable company, 8bilily to continue As a going concern, disclosing, a8 applic3b￿. matters iel8led ID going concern and using the going concern ba6is ol accounting unkss the Trustees elther intend lo liquid8te the charitable company Cf to cease operations, or have no reali5I'c 8iiematsv8 but to do so.

THE CHAMBER ORCHESTRA OF EUROPE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE ICONTINUEDI Audltor's reBponoibilities for the Judlt of the Ilnancl•l statsmoni• Our obje￿iveS Are tts obtain reasonable assurance about whether the financial statements as a %thole 8re free from material misstatement, whether due to fraud or error, and to issue an 8uolilor'5 report Lhal includes our opinion. Reasonable assurance IB a high level of assurance. but Is not 8 9UAf8ntee that an Budit conducted In aCCordar￿e wilh ISAS IUKI wll s￿#Y$ detèct a matèrial misslatemant when it exists. Misstalernents can arise from fraud or error 3nd are considered material Il, Individually or In the aggregate, they could re88onably be expected to influèncè the aconomic decisions of users taken on the basis ol these financial Btaternenls. Irregularityes. including fraud, are instances ol non-compliance with law5 regulglions. We design procedures In line with our responsibilities. outlined 8bovfy, lo detect rnaterial misstalemenls In respect ol Irregularities, Including frauEI. The èxtènt to which our procedures are capable ol detecting irregularities, including fraud 15 detailed below. We tailored the scope ol our audit lo ensure that we per1￿Med sufficient work to be able lo give an opinion on the financial statements as a whole. We used the oulpuls of a ri6k assessrnenl. our under$ignding ol the company. ils environment, ilB controls and cntiral t￿91￿958 proce55es. 19 ror151der qualilalive factors in order lo ensurè th81 wè obtained sufficient coverage acros$ all financial statement line ilerns. Our audit procedur&s were designed lo respond to those identified risks, Including non-compliBnce wlh laws and regulations lirregulantiesl and fraud th81 8re m81erial lo the finanual Statements. In Identifying and 8S5es81ng risks of material rn1s5t8lement in respect of Irregularities ineluding non-compliance with laws and regulationB. our procedur08 Included but wer• not limited lo". 81 planning stage, we gained an understancjing ol the legal and regulatory framework applicable to the charitable company, the industry in which they operate and con51tJered the risk gl falling lo comply with these legal and regulatory requirernents, we d13CU55ed with Trustees and stalf mernbÈri the policieg and procedures In place regarding Cornplian￿ with laws and regulations., we d15CU85ed 8rnongsl th8 engagement learn the Identifle¢ 18ws and regulation5, and remained alert lo any indications ol non.compliance, an(J during the audit, we locuse(J on areas of laws and regulations that could reasonably be expactèd to h8V8 a material effect on the financial 5t81ernenl3 frorn our general cornmerclal 8nd $eclor expanencè and Ihrough d15CU56ion6 with the Trvsiees las fBqLJif8d by auditing standards), from Inspection ol the charilable cornpany's regulatory Gorrespondence Bnd reviow ol minutas ol Trustees. meeting5 in the year. We al80 considered thc88 other laws and regulations Ihat hav? a dir8Bt Impact on the preparallon of financial 8tat8menls, such as the Companies Act 2006 and the Charitie5 Act 2011. Our procedures In rel81ion lo Ireud in¢lud*d bul were not Iimlled lo. inquiries of Tru3lees and $t8ff members whether they have kn[￿￿edge ol any actual, 8uspecled or allegpd fraud, gaining an under•t8nding of the Internal controls established to miligale risk related to fraud-, u$ing analytlfAI procedures lo Identify any unusual or unexpected relalionships, discussion amongsi the engagement team regarding nsk ol fraud such as opportunitie8 lor fraudulent rnanipulation ol financial slalemenls., and Scrutiny review ol unusual transactions snd entry Into 5en511ive norninal ledger 8¢counl$. The primary responsibility fDr the prevention and detethon of Irregularites Including Irau(J rests with the Tru5tÈè&. AS vmth any audit. there remained a risk ol non-delection ol irregularities, as ihese may involve coIIu510n, forgery, intentional omissions. rnisrepresentalions or the override of internal control3. 10-

THE CHAMBER ORCHESTRA OF EUROPE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAMBER ORCHESTRA OF EUROPE ICONTINUEDI Audltor'g regponslbllltleg for the audlt of the flnanelal gtatements Icontlnuedl Owng lo the inherent limitation5 of an au(Jit, theTe Is an vnavoid3ble riak Ih&t we may not have detecteé Some alerial wisst8lements in the financial slalernents, even though we have properly plannèd and performed our audit In accordance wth auditing stsndards. For example, the further removed non-cA)mpliancE with laws and regLlation8 Is from the events ancj transactions reflected in Ihe Iin8ncial 6talements, the less likely the inhe￿ntlY limited procedures required by auditing standards would identify it. A further description of our reBponsibilitie5 for tho audit of the financial statement8 is located on the Financial Reporting Counril's website at" https lthww IrB,org,uklaudilor5responsibililies. This description form3 part of our Auditor's Report. U•e of our report Tttl$ report 18 made solely to Iho charitable ¢ompany'8 m•mb•r6, 81 a body, in accordan￿ wlh Chapter 3 of Part 16 01 tha Companiès Act 2006. Our audit work has been undertaken so thal we rnighl state to the charitable company's members those m8lters we are required lo stale to them in an auditor'6 report and for no other purp06e. To the lullesl extent permitted by law, we do not accept or a55LJme responsibility to anyone other Ih8n the CharIta￿e cornpany and the ch8rlt8ble company's mernbers as a body. for our audit work, Igr this report, or lor the opinion8 we have forrned. P7kn b Pots P¥rkgr Senlor Statutory Audltor For and on behalf ol L•wl• Golden LLP Chartered Accountsnls and Statutory Audiloii 40 Queen Anne Street London W1G gEL Oate.3 July 2025

THE CHAMBER ORCHESTRA OF EUROPE STATEMENT OF FINANCIAL ACTIVITIES {including an income and expendlture account) FOR THE YEAR ENDED 31 DECEMBER 2024 Noteg Unrestrleted Fund• 2024 Unre8trleted Fundg 2023 Income and endowmentg Irom.. Donations and legaae5 Charitable activities 754.043 1,814,940 1,095,226 88,742 753,742 2,2C6.059 1, 193.574 17,619 Other Inc¢rne Interest receivable Total Incomo and endowmenl¥ 3.752,951 4, 170,994 Expenditure on.. Charitable actiwtie8 13, 133,4231 13.459,7481 Totsl •xpvndltuT• 13,133,423) 13.459,7481 Nal Incom8 e19,528 711,246 Nel movement In lund• 16 619,528 711,248 Total lund• brought fOr￿rd 2,859.274 2, 148,028 Total lund• car￿ed forward 16 3,478.802 2,859,274 The notes on page8 15 to 21 lomi part of these financial $tatementB. 12.

THE CHAMBER ORCHESTRA OF EUROPE BALANCE SHEET AS AT 31 DECEM8ER 2024 NoteB 2024 2023 Tjnglblo Ilx•d •M•ts 10 6,441 3,177 Curront as9ets Debtors Ca8h al bank Bnd In hand 359,181 3, 168,402 254,874 3.488.782 3,527.583 3,743,556 Credltorn.. ¥mounts falllng du• wlthln on• year 12 155,2221 1887,5591 N•t current a¥•et• 3,472,361 2.856.097 Tot•1 nvt •B•gt• 3,478,802 2.859,274 R•pro••ni•d by... Unre8lri¢ted income funds 3,478,802 2.859,274 Total chArlty fund• 16 3,478,802 2.859,274 AJI lundi rapreseni th8 unrestricted Incom8 lund. These financial staternen16 have been prepared in accordanc£ wlh the Finandal Rop¢rtJn9 Standard applicable in the UK and Republic ol Ireland IFRS 102112fjd edition, effective 1 January ?01918nd In accordance with Ihe special pr¢vislon$ of part 15 01 the Companies Act 2006 ralating lo sm811 companies, The financlal Statemènts ware approv8d and autharised for188ue by the board.. f141 John Peter Abercrornby Readman Chalrman Michael Graham Hoare Tru•t Dale. Th• Chamb•r Oreh•*trA of Europg ICompAny Roglstrntlon No. 015876841 (Charity ReBlStration No. 2834841 The notes on pages 15 10 21 lorrn part ol these finanrjal ¥tatemenl¥, 13-

THE CHAMBER ORCHESTRA OF EUROPE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Not•• 2024 2023 Net ca•h (ouffiow) I Inflowfrom op•r•llng aetlvltl•• 17 1320,3801 1,479,04S IDecre8$el I Increas• in ca8h 8nd ca8h oquivalenl8 during the year 1320,3801 1,478,045 Cash 4nd •4uival•nts at th6 beginniry ol the year 3,488,782 2,009,737 Tot•1 ￿•h •nd Ga•h •qulval?nt• at the end of th• y•ar 3.168,402 3,488,782 The not•$ on p8ge8 15 to 21 fonn part of these finanaal statements. 14-

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policieg 1.1 Basis of preparation The financial staiemenls have been prepared under the historical cost convention and have been prepared in accordance with Accounting and Reporting by Charities.. Staternenl ol Recommended Practyce applicable to charities preparing their accounts in accordance with the Financ181 Reporting Standard applicable in the UK and Republic of Ireland IFRS lo2112￿ edition. effective 1 January 20191 and the provisions of the Companies Act 2CIJ6 and the Financial Repc¢tsng standard applicable In the UK and Republic ol Iraland IFRS 1021. The charitable cornpany meets the definition cf a public tenefit entity under Ffts 102. 1.2 Golnu rvne¢m The Trustee5 have ronsidered a periorj of 12 rnonths from the dal¢ ol approval ol the financial statement5 when considering the going concern slalus ol the charity. The charity unrestricted reserves of £3,478,802. There are no material uncorlainbes regarding the going concern slalus. 1,3 In¢om• ond •ndotyn•nts lil Donations 8nd legacies Income from Friends. donation8 and legacies are recorded on 8 receipts b88is. Oonaled goods and service5 are recorded by recognisins an equal donation and expense at the lair value ol the re60urce8 received. Iii) Income from charitabl8 8cliwhes Revenue from concerts and recording5 are recorded on the accruals b8&15. (INI Olherincome other In¢ome 1$ rv¢ognised on the occrual$ basi$ when the charity h88 entrtlernènt lo the income, il is probgble that Ihe income will be received by the chariiy and the Incorne can be measurad reliably. 1.4 Expendlture Expenditure In the sl•lemtnl ol Iinanaal •¢tivilies 18 dealt with on the accrua16 ba$1$ and 1$ clai8ifled a& follow5. (i) charifable 8CtiviligS This comprises all costj expenditure incurred by the ChaT￿Y in meeting its chwitable objectlve8. 1.5 Accumulated fund• The unreslricled Income fund8 r8pre8enl th• lundg of the ch8ritable cornpany which aro not d•signat8d for pèrts'¢ular purposei. Any lund$ receivable durlng the relevant acCoun￿'ng period but not utilised are carr￿d forward as part ol total charity funds. 1.6 T•ngibl• Ilx•d s••t• and dèpmelatlon T8ngible fixed asset5 are st8ted at cost le$$ depre¢iation. Oepred¥lion 1$ provi¢Je4 on 011 tangible fixed 8sset5 at rates calculated to write off the cost les5 estlmated residual value ol each gssat over 11$ expected useful life as follows.. Musical Instrurnents Computer equipment 25% reduung tralance 25% r8duang balance 1.7 Debto Short term debtors are measured al the transaction price, less any impairments. Loans receivable are rneasured initialty at lair value, net of transaction costs. and are rneasured subsequendy at arnortised cost Using the effective interest rate method, less any impairment. 15-

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED) Accounllng policie• Icontinu?dl 1.8 Cash and castt •qulvalénts Cash and cash equivalent5 are represented by cash in h8nd, depo811s held 8t call with financial institutions and other short.terrn highly liquid Inve5tment5 that mature In no more than three months Irom the dale ol acquisition and th8t #re readily conVerti￿e ta known Amounts ol cash with insignific8nt rlsk of change in volue. 1.9 Credltorn Short term creditors are measured at the transaction price. Other financial liabilities a￿ me8sured Initially at lair value, net ol transaction costs, and are meaSU￿d subsequently at arnortised cost using the effective Interest rate rnethod. 1.10 Forelgn currency Tr8n58clicns In foreign currenae8 are recorded 81 the rate ruling 8t the dgle ol the tronB8Ction. M¢nelary assets and liabilities danominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Slatemenl ol Financial ActivilieB lincluding an incorne and expenditure account). 1.11 Mu•lc Ilbrary No value 18 placed on the chadlable company'8 Ilbrary of mu81C, 1.12 Pr•untatlonal curr•ncv The financial statements are presented in Sterting. due to the cnmpany being based In the United Kingdom, while the functional currency ol the cornpany is Euros. 1.13 P•n•lon• Dalln•d contrlbutlon pen8lon ichèm• The company operates a defined contribution scheme lor Ils ernployeeg. A defined ￿ntribUtIOn scheme is a pension scheme under which the cornpany pays fixed rontributions Into a separate enllty. Once the ¢onlribulions h8ve been p8id the company ha5 MQ Ivrther payment obligations. The contributions are recognised as an expense in the Slaternenl ol Financial Aclivilies linduding 8n Incorne and expenditure account) when they IBII due. Amount8 not paid are shovm In accruals as a liability in the balance sheet. The a56ets of the Schemè arè hèld &eparately from the company in independenlty administered lund¥. 1.14 Flninclal Instrum•nt• lil Financi81 ossets Basic Iinanaal assets, Including trade and other debtors and cash Bnd bank balance¥ are Inili?Ily recognised at transaction price, unle38 the arrangement consts"lutes 8 Iinan¢ial iransacbon, thara th8 Iransactson i¥ me85LJrecl al present value of fvlure rpceipts discounted al a market rate ol interest. Such assets are subgequenlly carried at amortise(J ¢ost using Ihe effective interest method. 16-

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {CONTINUEDI Accounting policie¥ Icontlnuedl 1.14 Flnanclal Instruments Icontlnuodl At the end of each reporting penod, financial assets rne8sured at amortised cost are assessed for objective evi¢en¢e of Impaimient. 11 an asset is impaired, the irnpairment loss is the difference belween the c8rrying amount and the present value of the estimated cash flows discounted al the a5seVs original effective interest rate. The Irrpairment 1055 is recognised In the Stalernent of Financ181 A¢tlVllios (including an income and expenditure accounll. If th8r& is a decrease In the Impairment loss arising trom an event occurring after the Imp81rrnenl w88 rpcogn15ed. the Impairment Is reverged. The reversal 13 such that the carrying amount does not exceed what the carrying amount would have begn had the Impaiiment not previDUSly been recognised. The Impairrnent reversal Is recognised in the Statement of Financial Activities (including an income and expenditure account). Financial assets are derecognised when". IBI The contractual ri9ht$ to the cash flows from the assat expire or 8re Settled, or Ibl Substantially all the risk8 and rewards ol the owner8hip ol the asset are transferred lo another P8rty, or Icl Control of ihe 8S5et haB been Iran51erred lo Jnolher party who has the praclicel abiliiy lo unilater8lly sell the a53el Ic an unrelated third party wilhoul irnposins addili¢nal r¢stn'cts'ons. BaB￿ financial liabilities. including trade and other crodilorB that are daosified as debt are initsally rerognised al Iransaclion price unless the arr8ngement con¥tslute8 a financing transaction, where the debt In8lrumenl 18 measured al the pr8s8nt value ol the future pgymenls discounted at a market rate ol interest. Debt in6trumenls are 6ubBequenUy rarried al amortiséd cost, using th• afféctive Int8r881 rate method. Trad8 credilor8 art obligations to pAy lor goods or service8 that have been acquired In the ordinary ¢ourse ol business Ir¢m suppliers. Trade creditors are recognised Initially at Ir8nsadon price and subsequentty measured al amorlised cost using the elleclive Intere81 method Financial liabilits'e3 are derecognised when the 118bilily is 8xlinguith•d, this 18 when the contractual bli98lion 16 discharged. ￿ncelle0 or expife$. lili) Offseltr'ng Financial asset8 and liabilities are offset Bnd the nel amountB presented In the financial 8lalernent$ vthen there is a legally enfor￿ats1e right to sel off the reco9ni8ed 8fflounls and there Is an Inlenlion to 8etUe on a nèl bagis or to realise the a&sel and settle the liability simullaneou$ly. 2 Income and endowment•- ch•rit•ble actl¥itie• Incorne generaied from chantatAe Bctivilie3 is 8toled nel of v8lu• addèd Igx, ond reprasents amounts invoiced lo third parties. 3 Other Income 2024 2023 Insurance clairns Royaltla8 Or¢he$tr8 tax reliol 49,9eo 9.923 1.035,343 8,418 1,185.158 1,095,228 1,193,574 17-

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ICONTINUED) Expenditure on charitable activities Not•8 2024 2023 Dlre¢l: Player5, lees and expenses Tour rnan8gernent fees Tr3vel 8XP8nses ArtlSts' fee5 Perforrnance related costB thholding tax 1,230,756 105, 149 844,207 229,868 239,231 76,193 1,299,048 104.399 1,C61,542 353,619 254 469 51,579 Indlie¢t'. Wdges and salarl&s Employer's national Insur8nc• Pension contributions Telephone, postage, printing and sundry oifice supplie6 Foreign exchange108ses Governance c¢6¢s 228,268 21.821 13,895 39,847 46.250 57,938 205,115 18,519 10,324 4g,571 317 51,246 3,133,423 3,459,748 PlayerB' feel and 8rt18ts' fe81 includè poymtrnls made to Independent profes8ion8ls lor the provision ol services lo the Orchestra. Th•88 fees Include subsistence costs where 8pplicable. Wlhhokling lax 18 deducted frorn gros8 coricert lees lor perf¢rmanc•8 in G8miany and IB non- recoverab￿ due to the ch?rltable company not being li8bl• for eorporation tox. Gov•rnane• co•1• 20Z4 7023 Auditor'5 remuneration Accountancy fees Bank charge¥ 23,013 32,950 1,875 24,413 25,245 1,588 57,938 51,246 Audltor'• r•Muner•￿0n 2024 2023 Audit fees Accountsncy ¥nd other $8lVICg$ 17,923 5,090 19,112 5,301 23,013 24,413

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {CONTINUEDI DonatlonJ In klnd During the current and wior year, the charitable cornpany benefited from the provision of olfica laalities and equipment m8de available by Friends ol the charitable company. The Trustees are of the opinion that it is not pracbc811o qu8nlity this donatson in kind, as the work required in obtaining profe66ional advice would ouiw21gh any pos&ble benefit. Taxatlon The charitable cornpany15 a re9lsttrred ¢harity and Is not liable to ccfjporation tsx in the United ￿"n9dOrn. st•ff co¥Jt• 2024 2023 Wages and Salaries Social security costs Pension contributs"on8 228.288 21.821 13.895 205,115 18,519 10,324 283,984 233,958 Average number ol efflployee8 durlng the ye8r.' 2024 Numbef 2023 Nurnb¢r Administr81ion No •mploy•& re¢ebved emoluments exceeding £60,01)J in the current Or prior year. The total compen631ion for Key Management Per$onnel engaged indirectly by the charitable company in the year was £83,15012023 £82,400). During the currant and prior year nane of the Tru8tee8 lor any per¥on8 ￿nnected with them) received

ny remunerallon or r81mbursernent ol expenses.

19.

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ICONTINUED) 10 T•ngible lixed assets Musical in•trument• Computer equipment Totsl Co•¢ Al 1 January 2024 44,178 3.236 47,414 Additions 5,419 5.419 Al 31 Oecember 2D24 49.597 3,238 52.833 DeprgGi•tion At 1 January 2024 41,043 3,194 44.237 Charge lor the yagr 2.142 13 2,155 At 31 December 2024 43,185 3,207 46,392 Net book value At 31 Dècamber 2024 6,412 29 8,441 Al 31 December 2023 3,135 42 3,177 11 D•btor• 3024 2023 Trade debtor¥ Other debtors Prepayments and accrued income 278,682 35,774 44,725 191,347 30,301 33,226 359,181 254,874 12 Cr•dltor•: •mount* lalllng due wlthln on• y••r 2024 2023 Trade creditors T8xation and sOU81 ¥e¢urity other creditors Accruals and deferred incc¢re 10,851 9,563 8,708 28,1 ryj 89,898 6,913 12.875 778,073 55.222 887,559 In the curyenl year, acrxuals and deferred incume Indudes £nil 12023.. £750,(KJOI ol deferred incoffle in relation to concerts to b8 perform8d in the upcoming year. -20-

THE CHAMBER ORCHESTRA OF EUROPE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 20241CONTINUEDI 13 Contingent asset• The contingent asset that has llDI been recugnised in the 8alance Sheet is the potential orchestra lax rdiel receivable lor the year ended 31 December 2024. The TruBlees expect to make a clairn. however. the value and timing of this receipt uncertain. 14 St•tuB of the charftablv company The charitable company, a registered charity. 18 a company limited by guarantee and not having share capilal. The subscribers to the Memorandum ol Association, and any other persons ¥thich the comrnittee admit. are members ol the charitable company. Al present. the membership 18 312023 31, each member guaranteeing the charitsble company up to an omwnl ¢1 £1. There is n¢ conlfolling party 10 R•laled party tran8aetlons There were no related party transactions or balances during the current or prior ypar. 18 Tolil eharlty fundi 2024 2023 At 1 January 2024 Net incorne 2,859,274 819.52e 2,148,028 711,246 Al 31 Decernber 2024 3,478,802 2,859.274 17 Reconclllatlon ol net movem•nt In fund• ta net Ga•h Ilowlrom op•r4tlng actlvltl•i 2024 2023 Nel movement In fundg Add. depreciation tharge Less additions in the yegr Increase in debtors (Decrease) l increase in creditors 619,S28 2.155 15.4191 1104.3071 1832,3371 711.246 1.059 16,8691 773,609 Net cash loutflowl l inflow frDm operating activities 1320.3801 1,479,045 21