2023-03-31-accounts

Company nymber: 1692341 Charity number.. 286818 CITY OF LONDON SINFONIA CITY-OF LONDON SINFONIA LIMrrED TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 'AC155ARU 2011V2023 CCfftIPANIES HOUSE *378

CITY OF LONDON SINFONIA LIMITED YEAR ENDED 31 MARCH 2023 P8ge(s) Chairman's rewt 14 Trustees, report &12 Independent auditors. repyl 1&16 Consolidated Stateff￿nI of financial adpltties (including income and expenditisre account) 17 Consolidated balance sheet 18 Chanty balance sheet 19 Consolidated Staterrent of cash I1￿*1 20 Note5 to the finarrial statements 21-34

CITY OF LONDON SINFONIA LIMITED CHAIRMAN'S REPORT As l Mwite ltr¥s, the 8oard aThJ Execulive Team have recenty been through an off.$ile strategie ￿v￿1 led by Rowan Ruttef. our CEO who joined us in Apn'l thi5 year. and mysew. Part of the day involved an exercise in groups, each provKled with their own stsck of Lego bricks and pieces which we used to represent our m¢Jdel ofthe CLS Orchestra going fornyard-each reflecting relevance, differentiation and financlal sustainabillty, buifton a solid pktforni and values lo delr4er that mLssion. vision and strategy. It is ttsj earty to share the thinking WKlefy but wh￿e it was dear that the macro and micro arts environments have continued to change dramalicalty from that whth defined Ihe'way Ahead. strategy we developed before COVID, our CO￿ values and obiectsves remain conslant, defining our very special music-sharing in drflerent settings. The way in Wh￿ we achieve th￿ has already been changing - and at an even grealer pace since Rth¥an joined us. This will posiiivety affect the current year, and is shapin9 the budget for 2024r25, on whtch our Strateg￿ planning and 'going COr￿eM. viws are based. So. as we are in.a transitb)na5 phase of models. let rne rew1 on 2022r23. in tenns not of a strategic model, but of r81ovan¢e. difforentiation. financial sustslnability- ￿th what we hoped for al the time of my last report and what has been achieved. To start al the end- at the rtsk of being a"spoilerf- we havp ex￿eded eXFetst￿nS expressed in last yearfs Chairfs Statement. We achieved a surplus of £45.539 for 2022123 compared to a def￿rt of£68.879 in 2021r22. IAÈ increased our reseNes to £66,656 - broken down into £50.656 in unreSt￿led funds and £16.000 in reStr￿ted funds. So, after a year 120211221 of using part of cwr reserves lo invest in our strategy, this year the expectstions I shared with you regarding restoring slabilrty have been more than 1ustrf￿d. How did we gel the￿? A. Relevance For over a decade our focJJs has been heavily on Ihe reknn￿ of what we are doing. and h¢y•V we do it. both on and off the stage. Vthout repealry here the messw of all those Venn dragrams of previous years, me tum lo the current year'.- Our Part￿1 t￿Th work has retumed ful￿ b￿k to'in Pe￿n. interaction. We have had lo Telhink integration of this work with ￿rf01Mar￿S teyond Comfortable ClassiGS Goncerts. Our musicons bring their whole selves into thi5 actNty wrth k)ng-Standing partners. and more recent ones such as Tessa J(h¥ell. Health Cenlre. broèjening our rethnce geographically and by categories of pathpant audiences are still reiuming sw. we are using ne communicati.on methods to draw in rtew audnces and this year pwfomwd to over 35.WO frcrfn the OFera stage and concert platforms, and wrth 1.000 partTrcipants off IL By using drfferenl sizes of ensembl8 (as small as an (Klell we coukj open up new venues to expand our re¥h to new audiences for our music. such as we have done al the Round Chapel in Hney and Village Underground in Shoredilch. Gabriele Nèuditschko. our Marketing and AUd￿nCeS Manager has been using dats lo rethink audyance segmerrtation. applying this to nv)re reknnt messaging for our sc¢ial priorities. We worked this year wrth 27 drfferent rtner or anisabons - several covered in the Trustees Report wh￿h fOlk￿S - not just on co-crealmty and cost-sharing, but aL80 to irtcrease accessibilty to audietKes in line with the stated FX)Itcy of the Arts Council. Thes8 have expanded the appeal and joy of CLS through increased WCJramming. and stwnulation of trtinking and relevance through ne* commis￿nS and ways of making music with others such as the"Painling with Music" kare￿oscOpe cortert. Finalty with the Board's 89reed EDI on our websits. this has been drNing oui artistic poli￿, programming arKI choice of those we work thL8 year. Something we will be developing much further in the coming years. bul already consciously increasing our relevan in society.

CITY OF LONDON SINFONIA LIMITED CHAIRMAN'S REPORT B. Differnnllatlon Justifying ourexistence in a 7hy)rkl ofmary orchestras has been a eontinuous pre0￿patiOn throughout my Chaimanship. And it led to many exciting arKI creabve Models fr(xn t￿￿gUeS during our Lego session referred to above. Our drfterentiated projects have again made us the 'turn lo, organi5abon for Radio 3 Music Matters and the Lan￿1 during Mental Heallh Awareness Week, lo lake just one example. Our challenge continues to be to rr#)¥e proactwely from these drflerentiated projects lo a clearty understood differentsted CLS brand. To help shape this brand. we empbyed brand consultant5 who eollected data inlemalty and extemalty to synthesEe and COMMUn￿ale our essence. missKJn and Vis￿n. Bul with Rowan's arrrval and eady driving force, we will be tranSit￿ning to a new mre differentiated brand and projects. wthout losing the essenlial elements of our pLqlfomi. For 2022123, therefore we have been emphasin9 and building on our'investrnenl areas. sel out in my last repNt- Vve have continued inlegrab"rwJ our on-stage and ParbupatDn woth beyond Ouf 'Comfortable Classics, work," pulb'ng Parbopation at the tart of our work. INe drfferenld our musical output through the bespoke outcomes and events we create with pathers as you will see in thg Trustees Rewi wh￿h folkyws. However. Rryan and Ihe ExeeutNe Team will be increasing that inlegratK)n effort in new ways wh￿h will produce an even more differentiated methodology and projecls. We are looked up to by our peers in respect of hthv we train and work with our Music￿nS on projects which Contain 5ubstsntial inpjt frorn our elite musicians- elite LM)th in terms of qualty of playing as well as fiexibility ofoulcomes tlw appty this lo. We arefrequenlty invited to sha this expertise and these eXp￿nCeS with other musKal grovps., and thB year, lo mention some examples, we have done this with Britten-Pears Arts. Southbank Sinfonia and the Royal Academy of KIUS￿. I have ffenlioned that we have wothed with 27 ¢thffe￿nt partners this year. But rt is the breadth and variety of these that make CLS drffe￿ftt lo m05t othets. Wle have worked with academ￿5 such as lQng's Col and the Royal Academy of mus￿. wilh heallh service providets Such as the Tessa Jowell Heath Centre," and in olher art fomis such as poelry with Faber & Fab¢T and lileralure with the Lonthn Review of Books. interrfls to WKlen this differentiator v8ry considerabty. Twctrway communication belween musicians and audIence￿rti￿Pants has been a trademark of CLS activtties in many ways. Sarah th>dTling. choreographer and movement director. joined us this year as CLS Artist-In-Residen￿ to incorpornle movement to enhance OUT Storytelling by MuS￿l8Th$ who bring their Who￿ selves into their cornmun￿n with othets. C. Flnancial Sustainabllity To relurn to my 'spoilerf at the start of this rep￿[ overall we have achved a profft turnaround of £114.418 this year to create a suwus of £45.539. This in lum has iwsted our reserves to £66.656. broken down into £50.6S6 in un￿Stn.¢ted funds and £16,000 in restricted funds. This has. in "P&L' tems, been achieved by hwJher gross irwme and margins. cc¥nbined Crucially Tmth a flexibility of budgeting which inctudes tranSPa￿nt tiff*lines for the year of 1Snal decision-making. for events and expenditure. allowing us to adjust progrnmming and forecasts as the year goes on. This albwed us in my 2021122 report, togelher with other positive factors, to state the Board's confiderKe in CLS as 'going concern. despite the huge lth of clarty kM)king fO￿ard through the windscreen. And we will be relying on many of these same factots to remain equally confident with regard to 'going concern, for the year ah￿￿ - with overhead and VarIa￿e costs continuing under very dose swts'ny, as any arts organisation requires in these diff￿11 times.

CITY OF LONDON SINFONIA LIMITED CHAIRMAN'S REPORT P4kre specrfKalty:. Gross In¢omè rose ty 11.6% to £1,125,374 from the low base of lasl year as actNity on all sides began to pick up after the COVID phase. IrKome from our overall charitable aclivilieslprojects increased by 22.2% rellecting the growing confidence of partners in promoting cor￿ertS.. more hwed engagements.. and audtences retuming to wncert halts and publ￿ sp￿- all increasing our b)x office revenues. Our Orchostral Tax Relifrf was almosi £74,795 Q'ust under last year's heavier inve$trnenl18vel in new productions) as a result of increasing activty and the doubling of what can now be C￿lMed- please maintain this Tare gesture of generosity to the arts, culture and civilisation, Mr Chancellor of the Exchequerl Total income from grants and do￿tionS has increased 1.8% to £540,196. lthile a vital part of stabilisalion reached thFS year overall. it ￿ a "Tale of Many Cities.. There has bèen a welcome and encourwJing increase in indNidual arKI partner Ilonations, with the focus for us on stewardship and mulb".yeai pledges- the savK)ur of many arts organisalions. Bul raising lunds trom TnJsts FourKlations has continued to be challenging in the current eeonomic dimate. with many luThJers still concenlraling on front line charities. But we are making more strategic applutions, and wth the setting out of a ¢￿ar way ahead plus the apFxJinlmenl of Ellen Oelbourgo- a huhty expernced Philanthropy Manager from the Royal Opera House Ihere shoLtld be more capacity and clearer messaging in the department lo cultivate deeper relatKJnshps wrth indmdual donots. Totsl expendlture remains underconstsnt revw and tKJhtcontrol, falling 0.2% to £1,154,630. ile direct c￿1$ increased by 2.8% a5 a resull of increased artLstic activity, our total support osts including stsffing and ¢)verheads continued to be carefulty controlled and fell by 12.5% c(￿npared lo last yearfs figures. And hence the overall surplus of £45.539 lor this year. and reseThTes rebuilt to £66,656- haI￿aY to meeting our reserves tsr9el of 3 months operating costs. Puth'ng that in contert having a¢h￿Ved our Strateg￿ largel of breakeven in 2019f20'. having maintained il the next year mainly because of crisis funding,. having k)st money in 2021122 to invest in the restart of post£OVID lrfe and our Way Ahead strategy. encouraging to be back on Ihe F#)Sttyve side,, achieving stabilisalion even in a drffi¢uli and unpredthbje year. D. Building the Platlorni for Qur N¢xt Phas• In my last hvo Chairfs Reports I have addressed our consoous efforts to invest in our CLS platfomi to prepare for future growth. A platform which l said atthe slartwas ukn"lised by each of us. in our individual Lego-building in different ways wh￿h we exh dreamed of and de￿Sed to be re￿¥an1,￿dffrerentiaIed and financialty sustainable as the new Strateg￿ path gpts detiried and iLTrpieraenteU uiider Row8n's executive le•Jership. ￿ continued investing in several areas this year (wittiout raKling the piggy bank), namely.. Investrnenl in MUs￿lan trainin to deve eir leadetshi skills and the ways Ihey can make use of their supreme music skills. Thanks to our twstee Patricia Millett funding Musicians Awards, we contsnued lo devd¢¥J our pioneering woth. respectèj by our pee￿- many ofwhich have been tuming to us for their training. as reFQrted in the Trustees Report which follows. Investrnenl in the Executive Team especialty in the CEO p￿ltion. finance department., philanthropy management.. and moving forward OUT marketing and web5rte this year. Our senKJr management team have led CLS brilliantty through this tranSl￿nal ts"me. and we are SO grateful for their energy. enthusiasm and I￿)tinUing Joyaty to CLS. Thank you so much for all the leadership and conlinuity you bring_

CITY OF LONDON SINFONIA LIMITED CHAIRMAN'S REPORT Investment in new 8oard mem1￿. One of Ihe Arts Council's four mantras is the nJ for a dynamic Board. Boards now need to possess not onty shared culture. values and objectwes: not only governance sknlts, but aL80 the skill￿experience and new contacts required to support the Executive Team in carrying out the stralegr mIss￿n and plan. Wrth a new 5-year plan being fofmed. we are recruiling members under the Nominations Commrttee Chair. Riehard Spiegelberg - but in a phased manner over the next year as those requirements become ¢karer. Investment in EDI r&tw. Our polw agreed by the Board. and, tN)w C￿ the website, should make clear that th￿ is not a I￿x-I1cktn9 exercise for us." bul ralher best practice for which our Board and ExeculNe Team he¥1 u5 to strive amongsl all our stakeholders. We will conbnue lo budget for further 8oard training ¢>ver the eoming year. E. N•xt Pha8• . N•xt Year The Trustees Report sets out some of the past and future exciiirKJ programming which gNeS us great confidence in the fvture develcpment of the Orchestra. But progre￿ needs lo be holist￿ to folbw the "North Starf which we will be adopts.ng and following over the next year. During thal tsme, we will b building the partnerships. inlegrated Pra￿1￿. inventve prc#Jramming and people wthin a carefulty monito￿d fflexib￿ budgeb'ng process whth allows I￿e¢as￿ng to be reviewed against experience-to date. Our fina14ecls￿In tirnetsb￿ ensures that we do not drift into Ioss-making actNi1￿$ without decisions having teen made lo Ilo so. For this reason. arKI the others Set out in note 1 to the acwints, we a￿ happy al the Board and the Executive Team to put OU￿e￿e$ forward as a going concem on path of 51rengthening brand. audienos and relevance. with ￿refuIty consKlered growth. Regarding risks. for any arts organisalton. finanryal Uncertaint￿ require constant monitoring. And the financial ones have to be at the top of the lisl given the Un￿rtaIntieS all of us in the arts sector face. But we do have a 'plan B, for each of the likeliest negative eventualrtEs. Our rBk regt5ter, which is regularly reviewed, sets out our plans for a very broad ran9e of Fotsntial risks on the operational $Kle covering levels of unmitigated risks.. who is resp)nstsk for them and what is b￿n9 done to reduce them. We have a gcM)d track reojrd on rnininFsing such areas of and dealing with any 'surpii5es'. Thi5 is truty a very exciting trne of rebirth. and adapting the acy platfwn we have Created to b8 even more relevant, drfferent￿Ied and financially sustainable for a long and successfvl fulure for th8 CLS famity. This path involves a lot of hard work. and love for what we do and those we do tl with. together wrth devo n and k)yalty. And so I send my heartfelt thanks to our glorious musicians, Executive T oard and Sub-ccmmiliees. parbcpants. aLsdiertss. t¢nefa(lors and supporters who mak whil k you all so rnuch. John Singèr Chairman

CITY OF LONDON SINFONIA LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 AIARCH 2023 The trustees (who a￿ also directors ol the company for the purposes of company law} present their repjrt and the audrted group and parent C4yTpany financial slatem8nts of Cty of London Sinfonia Limited fof Ihe yeai ended 31 March 2023. The Iru51ees confirm that the report and the group arKI parent company financial statements of the harity compty with the current statutory requirements, the requirements of the goveming document. and the Pfovisions of "Accounting and Report￿9 by Charrt￿S.' Statement of Recommended Practice applicable lo charrties preparing thar aCLounts in accordance with the Financial Reports'ng Standard applicable in the UK arKI Republic of Ireland {FRS 102)" (eff￿lIVe 1 January 2019) {Chariti"es SORP IFRS 102)). Ref0reTr￿ and administrative Inf¢>mialion Ccffipany number 01692341 {EThJland and Vla￿) Registered chanty numbef 286818 Chaimwn Jthn Singer Interim Chief Executi￿ Officer ELgine Baines Registe￿￿ offv and principal office address 1st Fk Radi580n Ccwrt 219 Long Lane London SE14PB Independent auditc Linthyer Franci5 Ferguson Limttgd Norlh House 198 High Street Tonbridge Kent TN9 1BE Principal bankers Lloyd$ Bank p 35 WhitechaFel High Street LoThJon E1 7PH Structure. governance and management City of London Sinfonka Limited was incorporated ￿ 19 January 1983 and is a charitable company limited by guarantee. 11 has no share caprtal and is govemed by a memorandum and articles of association. In the event of a winding up. the memberfs Ikqbilty rs limited to £5. Past members who had re$igned in the months preceding the winding up are also required lo contr￿ule up to £5 each for debts incurred whilst they were members. The membeTS have no enttllement to surplus assets on winding up,. any such assets wll be gi¥en ortransferred to someothercharitabl8 instrtulion or ￿$trIutIOnS with similar charitable ot4ects. The Bo¥d of TTUStees is resp)nsibfe for se*ting ar￿ recruiting suilable Irustees to office atthe Annual General Meetin9. There is no maximum number of trustees that may be elected to the board. Trustees may servefor a period of nine yeats. subjecl to re-ewion every three years. After nine years of service. trustees fflay rernain on the tr)aTd subj.ect to an annual re-electi￿ provided more than 75% of the trustees support thwr reolecfion. There ts no age h.mit inwed on trustees. New trustees are Inducted through an intensive briefing by the Ch￿f Execulbve and are given a job descript￿n, the most recent au¢Jited acthunts and the cuffent year Wet.

CITY OF LONDON SINFONIA LIMITED TRUSTEES. REPORT FOR fHE YEAR ENDED 31 MARCH 2023 Policy decisK)ns are made by the full b)8fd of trustees. with suLrommitteesfor Finance and Operations. and Development and CommunKation. wrth b)th bod￿$ retxjling to the full board on a quarterty basis. The day-trpday decIs￿n$ are made by the Chief Execub"ve and the fulktsme administratK)n slaff ofseven othefs. The Chief Executive's rernUne￿t￿n is set by the l>)ard of trustses and does not include any bonus or performan￿ related remuneration. The Chief Executive then sets Ihe pay fof the remainder of the administration. wrth annual increases for all staff agreed by the board of trustees. Only one member of the administration stsff receives any performance related remuneratth)n IPhllanthropy and Enterpri89 Manager). and this is agreed wrth the ch￿ Ex￿tiVe. Key Management personnel irtlude.. Elaine Baines (Chief Operating Officer and interim Chiel Executive Officer to 16 April 2023) Rowan Rutter {Chief Executive Olfw from 17 April 2023} Trust￿$ The trustees servirvj durtng the yew were: John Singef CBE fCh8imMn) Rtchard Spiegelberg (Deputy Chairman) Iliam Spufgin (Deputy Chairnian) Paul Cutts (resigned S Ociober 2022) Salty Oavis Teruko Iwanaga OBE Joanna Livesey Patricia Millett Alan Morgan Mark Redman Julian Schild Countess Sarah Thun-Hohenstein Objoctives and activitie The mission and visK>n of the orchestra. as adopted by the trustees. is as foll)ws.' Our vislon Is of a world wh•r• rnu$ician$ ar• an int•grnl part of every community, m••ting people across all of asp¢¢ts of r*oclety and fully r•ft•ding thg Gommunitie$ vthere they are active. City of London Sinfonla's musicians are at th• forgfry>nt of our vision. engaging wilh people from all backgrounds in shared moments of connection wherever we m••t th•m. Our ollaborative approach and prnGti¢• in h•alth￿rn. vmllbèing and 80ci•I carn settlngs underpins all our activlty. Our mission is manrfesled in hvo major areas ofaclivty whth are.. (il eoneert and staged performances.. and lill Part￿lpaI0ry actNity in educat•?n. community and health and S￿la1 cale setts"ngs. In pLgnning our activities for the year. the trustees have considered the Charity CommissKJn's guidance on public benefit and fee charging and our new mission. vi5#)n and values. The charity relies on sponsorship. grants and the incorrE frryn fee5 and charges to cover its operating costs. In setting the level of fees. I￿ke1 PTW, and co￿essIonS. the directors gNe careful ConS￿eration to the accessibility of all events for those on low incomes.

CITY OF LONDON SINFONIA LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The aim of the orchestra is to transfomi lives of individuals across all areas of society through outstanding music making. SpeufKally. in a usual year we gNe over 75 perf0M￿nceS every year and spend over 150 days every year in edU￿tIOn and well￿"n9 settings induding.. in environments where background often creates a barrier to musical artistic creatwty and aMb￿On'. in hospitals for young people with severe. liftrliniting. wchiatric and chalenging condrtions and illnesses., with older PeO￿e. many wrth dementia diagnoses in en&of4ifr residential xtial care: performances whth by taking pe in non-lradrtional Venues. engaging with au¢Jiences in immersNe and interactive ways. or involvin9 collabofabonswith artists from drfferent discipline5 attract those who woukl not normally attend classical music events.. and performanees and actsvibes for communities who because of Ic￿t￿m or opportunty would not othe￿ise experience outstsnding professional mu$￿-MakIng. pe equal va￿e and br"trvJ the sne 4)proach to everythiryJ we th: the highest qualty, and a distsnclive, 'Se￿ilsty infomial, styk of performance that removes the barriers betsyeen musicrans and audnces so that people can expe￿nce the tiansf0m￿tr¥e puwer of music. To ensure that we are achieving these aims. we will conbnue to ask questKJns of oursefves. ensuring that we remain at the forefront of best Pract￿, both in attracting audEnces and irb schools, hosprtals and care homes. We will partner wrth leading research instrtutions to ask us challenging questson$, and provide the hard evidence of the beneffts of our aclivty. spoof￿ ￿rrent eValuat￿lft methLxls include.. the use of dats frlyn our Ix)x office system lo ensure that we are reaching as wide an audience as possible. including approaching new audnce members directly for feedback on our effectsveness at bringing new al￿EnceS to dassical music," partrbershy with leading &ademK and clintcal research InSti￿tiOnS and best praclice observalional evalualKJn methodology: and partner feedback. part￿[arty as regards our WO￿ in schoo15 and hospitals. to ensure that our projects best rneel the needs of those youryj people whose lives we seek to transfom. In the financial year 2022-23 like all arts organisations. CLS continued to feel the impact ofthe pandemic bul was suppjrted by retuming audiences and a clear appetile for cultural events. We maintained the same programme approach and repeated well estsbltshed wojecl m(xlels Whi￿ anliapating new leadership and strateg￿ direction., we used Ihis Ome andextra slaff resoUr￿t0 deeFen our partnerships and support and develop our MuS￿lan5. For CLS, eighteenth year of partnershp with OFwa HLqland Path. we delr¥ered a full season of five opefas including.. new productions of Tchakovsky's Eu On in . Bvzeys Camien . The second half of the season began with a doub￿ bill of Delius's Ala ot la Rou and Pucctni's Le Willl foll¢)wed by the UK premiere of Mark Adamo's Little Women. The season fin￿hed with a new co-production of Gilbert and Sullivan's HMS Pin•forn wrth Chartes Court Opera. Reviv45 h*Jh1￿￿ted CLS energy and PaS5ion' and 'tight musical brilliance, across the season. At Sl Paul's Cathedral we were ddighted to present the frst orchestral Mass since C-19. under Wren's extraordinary great dome, in Juty. wh￿h V•e followed wrth a MesS￿h in November. A Celebrnlion of Chrislmas in the December, and an ?ddrtK￿8l concert for WaterAKI's Christmas Appeal. CLS delNered breathlaking work for the Chiltem's - and Spitslfield's Festiva15, alongside private concerts al Brooks's and a Hygge winter-wamier at H￿neY'S Round Chapel. Three concerts at Soulhwark Cathedral, where CLS has a slrong audience folkrwing. were a highlight of the season. including a double-bill celebrating and complemenkng Luke Jerram's stunning instsHation Gaia which attracted thousands ot VL5itotS.

CITY OF LONDON SINFONIA LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 AIARCH 2023 The orche51ra continues lo Jed by Creat1￿ Director and first y￿lin A￿xandra supp)rted by our world-class member players Princtpals. CLS musicran$ continued to grcm as individual artists not only Ihiough our award winning part￿"pthn woik. but also through the ffirst year of our Particpation Development & Legacy Award. We fG￿used on outs¥ardty estsblLshing our woth and prise through partripat￿n and gained natKJnal media re¢ognf(ion featuring in Rad) 3's MUS￿ Matters and wtscles in the Psycholcw Lancet and the Daily Exp￿$S. Our partnerships wilh academic in$titutKJns eontfftued to Ih)urish with talks at the Royal Academy of Music as well as events with ￿ngS College London and the Instrtule of Psyehkqtry Psychology and Neuroscience {loPPN) - some of which have culminated in Commis￿On$ for Radio 3 (Scoring Mentsl Healthl and our cdlats)ration l invofvement in a 141k1lcoff￿ Twst fvnded project wrth Dr Virginia Carter Leno of Kings COl￿e examining hLYW neurodNergenl people experience the wortd. This project culminated in the commissionirvj ol a new work'DNergent Sounds. by neurodiverne composer Amble Scuse and was presented at the Queen Eloabeth Hall to crilical acclaim. We also gained r￿nitiOn from our a￿$11¢ peeTr who want to morn atr￿ut how we work with our musicians. CLS MUs￿an5 led se￿onS at SoLtthbank Sinfon￿'s residential for their new wruits and CLS, Participation Oeparbnent were re$￿ential tLrtors for Britten Pears Artists at Snape Malting5. Aldebur9h. Flagship projects. Room to Rocffi Music the Mindfvl MUSK &¢ial Prescnbing project at Tessa Jouell Health Centre and Sound Young Minds wilh Bethlem and Maudsley Hospital Schw1$ onlinue lo garner re￿gnItiOn for the groundbreaking WO￿ btheen muS￿lan$ and participants. Our season ffinished with tsyo sold-out concerts". a faucous full house for Dan￿ with the Devrffealuring ac£kimed Scottish folk musicians Kristen Harvey and Anna Mass which included diabo1￿llY inspired music by Vivaldi, Piazzolla and Locat•lli but aL80-The DevR Went down to Georgia by The Charfes Dafti81s Band arranged for orchestra and folk musicians by lain Fa￿IngtOn at Willage Underground. The second sokl out concert al Queen Elizabeth Hall Southbank Centre. Th& Owl and the Nightingale, was a project delNered in cdLaboratton wilh Faber and leaturing KXt laureate Simon Armitsge as narrator. and stars of the screen Kerry Godllman as the and Nina Wadla 08E as the nightingale. The concert illumirwted the actton of Simon's avian and argumenLItNe music from composers including." 8ach. Shoslakovth. LwetF and Pufcell. Audienee feedback from 22-23 It was an exceptional conL*rt. Every￿￿ was COAI in the yce so s8eiry the miuMp￿S and hats felt very egalitarian- what shone through was beautrfulplaying. The efforts Ihateveryone M9nt lo weTr above and bey￿￿. (Coming in from the CokJ- late perf0M￿nce) tt fell joyous and entertaffting (The Qwl and the Np3htingate) l thoughl it was excellent DftTKult to impmve onl Thankyou. (Devifs v￿lin) In December 2022. we appointed a new CEO Rtr•An Rutter to take up leadeishi? in 4Yil 2023. Under her leadership we will look lo expand I￿r program￿￿ ar￿ partner5hps. ar+d grow our commitment to our core audiences whilst ins￿nn9 new audiences. artists and partiupants to experience thejoy of City of London Sinlonia's work. This will include 8 f￿u$ on diversty of repertoire. story. arb"s15 and theme across our public facing wo￿. $UPF￿ted by our EEDI policy. During a dirfKutt year of un&ar gUIda￿e on the of o)VKI restrlctKy￿ and conlinuing reduced in- person delsvery in heathcare setts"ngs, we reached a totsl audience of 35,329. worked with over 1000 participants, and collaborated with 27 dthnl parlner organtsalions. The d)arity's entire resource ts directed towards delNering these actpirties. with £1.051 million (2021- 22 £1.039 million) spent on realising Chartsb￿ acbvrties, compared to £103k (2021-22 £118k) spent on raising funds.

CITY OF LONDON SINFONIA LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Fundraising A programffB of events for our friends, SUPF¥Yters and patrons. starling in autumn 2022 and continuing into surrrner 2023. Highlights include a ￿￿0X Cirdg dinner for major donots. held after St Paul's Alessiah. a fundraising drinks event in the reliochoir at Southwart Cathedral and a wonderfrjl evening al The British Lforary exploring Music and Idaps ￿ key supporters and the Br￿'Sh Lornry curatorial team. CLS raises charitable income from charitsb￿ twsts and indNiduals. In doing so it makes approache5 to charitable trusts who publith slate that they seek to supwrt MUS￿ and the arts. or innovative wellbeing measures such a$ our pathipalion programme. or Charitab￿ trusts where the trustees are known lo CLS trustees and have wivited CLS to appty for funding. CLS makes approaehes lo indNKluals for charrtabk income that have attended CLS performances or events. or who are kwn pefsonally lo trustees of CLS. CLS does not ern￿oy third party fundrnisers. and we do not make unilateral unsolicrted approaches to individuals. CLS is registered with Ihe Fundraising Regulator and adheres to that regulatorfs code of practti. In addition, CLS is GDPR eomplk8nl. CLS has not received any c(xnplaints ab)ut its fundrai%ng athty. Financial roview The Chairman'$ rep(¥t ¢xrtlines ￿Jr fundraising perfomiance f¢Y the year and overall financial position. bul in summary.. Gross income- ir¢cfeased to £1,125.374 from £1.008.122 {an increase of 11.6%) 'rect ￿$1$ (excluding staff Cl￿$) inueased by 3%. as income from tharitable acbvI￿5 (concerts. $ts9ed events and ouireach pmiects) irmased by 22.6% (from £477.352 10 £585.178}. Gfants and donations increased by 1.8% to £540.196 in 2022r23 {from £530.770 in 20211221 Overall surplus of £45,539 fof 2022r23 compared to a deficit of £68.879 in 2021r22. Reswves al the end of March 2023 are £&S.656 trmoken dcwn as £50,656 in unrestrthd fvnds and £16,OIYJ in feslrthd funds. Our principal funding sources remain hired engagements. grants from trusts and foundab'ons. individual donors. Arts Counul England. and b)x Offi￿ ino)me. and whilst there was an Ir￿eaSe in in￿rne from the 2021-22 financial year. xtNty has not yet ￿turned to wtrpandern￿ levels. The financial enwronmenl that the ￿chestra operates in continues to remain challenging.. charitable trust and foundation inveslrnent dividends rernain low.. ststutory funding from central wvernment and lottery income is decreasing I standstsll.. wIdN￿￿al and w￿ale phiknlhropy 15 affected by continuing eeortomt and polibcal uncertainty. This environment, h(￿￿Ver. is one that affects every PTofessK)nal perfonning arts organtsation in the UK. and City of London sinfon￿ has taken every possi￿ step lo ensure that our brand and ViSK)n are differentialed and as attractNe to funders as possib￿.

CITY OF LONDON SINFONIA LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Golng Concem After making appropriato enquwies. the tx)ard of trusteeg has a reasonab￿ expectstvjn that the charitable company has adequate resouree$ to continue in exBlence for the foreseeable future. For Ihe reasons detailed in Note 1 in the Siatemenl of Accwnting POL￿5. the trustees have adopted the going concern basis in preparirMJ the financial slatements. Priclnq pollcy CLS own.promtion concerts are to be affordable for all with concession available for young and okjer people. Our"51VER" scheme offers £5 tickets for 16-25 year olds al all own-piomoled concerts. These concerts require svJniftant sponsorship anWor supwt from designated funds to subsJi5e the Costs. For Season 2022-23 I￿ket have been hekl at ￿V￿v$ season levels lo encourage past audtence memtrs to r￿ngage with the orcheth. The trustees have determined that the appropriate minimum level of un￿￿ted reserves shoLtkl be equivalent to three months, operional exFenditure of approximatety £124,￿0 in unrestricted funds. which is a level of reserves that the twslees deem woukl enable the charty to find new funding for rts charitable ath"vrties, should the very unlikety Scenar￿ eKtsJr that am current funding ￿SOurceS were to cease, or, rf necessary. to enable the charity to ￿8$e operab.ng in a tinety an¢J pwdent manner. The group's ￿serVeS at 31 March 2023 were £66.656 ofvjhth £16,000 is restrKted fimds and £8,963 is designated leaving unrestrKted reserves of £41,693. This represents an increase of £45,539 in the 10181 reserves on the previous year12022 £21,117). The current MU￿._year Strateg￿ plan includes a plan of how to achieve an unrestricted reserves fvJure in excess of £124.oc￿ whKh the Trustees deem Ihe apyopriate minrnum level. Plans forfvlurn perlods Ow plans for 202>24 include: A five concert seFies featuring guest sokists BISHI. Ivana Gav￿. aThJ DavKI Grel￿arnmer. at King's Place, Cadcoan Hall and Southwwk Cathedral wilh hwJhlNJhts in repertoire including rarely performed Louise Faranc. We will also produce Ihe first corttrt in a se￿$ with partners London Review thf Books at the Queen ElrLabeth Hall and a series of summer masses at St Paul's C*hedral. We will deliver a fiJS1 season of five cperas for our nineteerth year of partnership vAh Opera Holland Park including." Rigolelto, La Boheme. Hansel & Grelel, RuddvJore and a newly commissioned chamber opera.. Ileh by Jonathan Dove. We will continue to deepen the impact of our work in participatw)n. collatwyating with new partners and developing delwery in chikJM's hO¥1b￿ by partnering wilh UCHL'S play team. Implementing our Equity. Diversity and Inclusion (EEDII strategy as refetred to in the Chaiman's statement abjve. including trainTrrKJ at board and exeojtive lewn ￿Vels. 10

CITY OF LONDON SINFONIA LIMITED TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Ri8k8 CLS keeps a regvlarty updated RBk Register whtch iden11f￿ risk in four key area5.' Govemance: Finan￿.. Opefalions,. and Artistsc. Each area of risk is anatysed for impact and probability to ascertain ihe level of unmitigaled risk. An indivKlual or group wthin the or9anisatK)n is assigned re5wnsibility for the tdenlified risk, re9uL4r mrtigating aCt￿n to be laken. and when that action should be taken, inclu¢Jing any current actNity. Based on this mrtyting prttess. Ihe level of milyted rksk is ascertained. These areas of risk include.. Finance.. like all arts organisations. CLS ￿lieS on charitable givirKJ. box office income and commercial income which have an inherent degree of uncertainty. The Chaimian's Report and this Report's sections on wing concem and finance ol￿ne the mitigab.ng actions taken to reduce this risk. as well as the reguL¥ and dose I￿litOrry of externalty prepar&Y monthty management accounts by the Trustees. Child and Vulnerable Adull Saleguarding.. CLS'5 pathipatK)n actmty necessitate5 engagement with children and vulnerable adulis. arKI while the Trustees deem any b￿ath of policy in this area as unlikety, all CLS stsff and mus￿•an5 undergo enhanced Disclosu￿ and 8arring Service checks. and the Director of Particrymlion keeps and reguFarty revpK6 our Child and Vulnerable Adult Protection Polw, with all staff and musicians who into contxt with those indivwdua15 made aware of expected levels of behav￿￿r. Health and Safety in PerformanF Areas.. the Frfol￿n0 of rnus￿ involves very high decibel levels whith, if {nus￿lans￿lere left.uriprotected, eoukl incur serious hearing ioss or damage. CLS staff adhere lo best in providing protection for these noise level$, and these protections are available at every CLS Frformance. iicludirvJ slate of the£rt'acou5t￿ shtehJs' that reduce noise ￿ve1$ for irtdivkdual mus￿lans. In the 2022-23 year and ongoing. CLS'S approach to managirTrgfflsk"also ikncludes"s"¢ecrfic risk as5essmentsfor each projectand Krfom8nce to mrtigate the risk12ss￿I8Ied with the COVID- 19 pandemic and the need for additional pioteclion against infection for all our musicians, slaff and audiences. The Risk Regi8ter is fegulafty miwed by Ihe sen￿r management team. the Finance and Operations Committee and the Board. and was last revivwed by the Board in February 2023. Trnslees. rospon8lblllties The trustees. who are also the dir&tors of the ttryany for the purposes of company law, are responsible for preparsng the Trustees, Report and the financial statements in accordance with applicable law and United lfjngthrt Accounting Standards (United ￿ngdorn Generally Accepted Accounting Practtel. Company law requires the trustees to prepare financial statements for each finanoal year. Under that law the trustees musl not approve the financial slatements unless they are Sab"Sfi￿ thal they give a tnje and fair view of the state of affaits of the charitsble company and of the incomin9 resoulces and application of resour￿. I￿￿dIng the inc4Jme and.expenditure. of the charitable company for that period. In Pfepanng these fin￿la1 statements, the trustees are required to. sele¢l suitable accounting kx)IKies and then appty them i￿￿$tenty. observe the methods and principles in the Charities SORP" make judgments and accoLsnting estimates that are reasonable arKI pruden( and prepare the financial statements on the going corKem basis un*s it is inappropriate to presume thal the ttharilable company will contin￿ in OFeration.

CITY OF LONDON SINFONIA LIMITED TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 . The trustee5 are resF)nsible for keeping adequate xo)unting records that are suff￿￿nt to show ar#J explain the ch8ritsble company's transact#)ns and disdose wrth r&Th)nable aC￿r￿Y al any time the rinancial poSit￿n of the charilabk company and enab￿ them to ensure that the finaneLal ststements comply with the crynpan￿$ kt 20¢A. They are also resp)nsIb￿ for safeguarding the assets of the charitabk company and hence for tsking reasonabte sleps for the prevenl)n and detection of fraud and other irregularities. Stat•m•nt ol dis¢losur• to auditi)rs Each of the petsons are Imslees al the when thB Irustees. annual report is approved ha$ conffimied that.. so far as that trustee is ￿e. is relevant a￿j11 infOrMat￿N of which the charitable companls auditors a￿ unaware thal trustee has tsken all the steps th ought to have been taken as a trustee in order to be aware of any relevant audit infom)at#)n and to estsblish that the charitable company's auditors are aware of that inftymatw. The auditors, Lindeyer Franas Ferguson Linrted, are deemed to be reapp)inled under section 487{2> of the Companies Act 201%. Thi5 report has been prepared in accordance with the provisions applicable to small cMipanies subject lo the small companies. regi￿ in Part 15 the Companies h£t 20(%. Approved oardoftrusteeson............................... . aTrJ $wJned on rts behaw by.. John Singer Chairman 12

CITY OF LONDON SINFONIA LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023 Oplnlon We have audited the group and parent company financial statements of City of London Sinfonia Limited ('the charitable company'l for the year ended 31 March 2023. which comprise Ihe Consolidaled Statement of Financial Activities. the Balance Sheets. the Consolidated Stslemenl of Cash Flows and Ihe Notes to the finawal statements. including a summary of signifunt accounting policies. The ffinanaal reporting framewrjrk that hos been applied in their preparab.on is applicable law and United Qngdom Accounting Standards, including Financial Repofting Standard 102 The Financial Reporting Stsndard applicable in the UK and Republic of Irelan(J {Uniled Kingdom Generally Accepted Accounting Practice). In our opirmon. the fin￿¢181 statements". give a tnJe and fair view of Ihe slate of Ihe group's and the paMt thari18b￿ company's affairs as at 31 March 2023 and of the group's incoming resources and aPpl￿tIon of resources for the year then ended: have been propety p￿Pared in accordance *Arylh United Kbngdom Generalty Accepted Accounting practi￿.. have been p￿Pared in ac￿rd8￿ wth the Tequwements of the Companw Act 2006. Basts tr opinion We conducted txjr audrft in acccrfdarte wilh Intwnaticwl Standards on Auditrng {UK) {ISAs {UKII and applicable law. reswnsitm'lities under those standards are further described in the Auditor'$ responsibilities for the audit ol the financial slalements section of our reFrt)rt. We are independent of the ch8ritsble company in accordance wth the ethical requirements that are ￿levant lo our audit of the financial slatements in the UK, including the FRC'S Ethul St8nd8rd. and we have fulfilletl our other ethical respOn￿bIlItieS in accordance with these requirements. We believe th81 the audit evidence we have obtained 15 sufficient and approwiate to yovide a basis for our opinion. Mat•rial uncartalnty relating to going C¢lllC•rn We draw attention to Note 1 to the financial statements. in relation to goiThJ concem. This iryjicates that the charity has free reserves bel¢)w pc4icy level and is reliant on donations from its trustees, particularly its Chairman. As stated in Nole 1. these events or condit￿nS. along V•ith oiher matters 8$ sel forth in Note 1. indicate Ihat a material ￿n￿rtaInty exists that may cast signfficant doubl on the company's ability to continue as a going con¢¢ Our opinion is rnt mOdff￿d in respect of Ihese matters. Other Infomatlon The other infcrfMatic￿ comprises the infomiation induded in Ihe annu81 ￿pOrt, other than Ihe financial statements and ow audttorfs repNt thereon. The trustee5 are respon￿ble for the other infomiation. Our opinion on the finanraal ststements ¢kns not cover the other infomation and, except to the extent otherwise explicitly stated in our rewrL we do not express any lo￿ of assurarr2 condusion there¢)n. In connect￿n with ouraudit of the finanual stalements, our responsibility is to read the other information and. in doing so. consider vthelher the other infomation is materially inconsistent with the financial statements or cwjr knowledge obtained in the audit or othew5e appears to be materialty mis5tsted. If we identify such mater￿1 inconsistencies or apparent material misstaternents. we a￿ required to delemiine whether there is a material misstatement in Ihe financial statements or a material misslalement of the other infom)8tion. If. based on the we have perfomied. we ¢onclLtde thal there is a rnaterial misstslemenl of thi5 Other inft￿atiOn. we a￿ required lo rep)rt that fact. We have nothing lo report in this regard. 13

CITY OF LONDON SINFONIA LIMITED INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023 Oplnlons on other matters prescrlbed by th• Companies ￿ 2006 In opinic￿. based on the wryk undertaken in Ihe ¢ourse of the audiL the infomiation given in the trustees. report includes the directors. reportforthe PUTposes of Company law. for the financial year ILY tMch the financial stat&nents are p￿pared is consislent the ffinanual slalements.. arKJ the dire¢lors' re[￿ included within the Irustees. rewrt have been prepared in ￿￿ance with applicab￿ ￿gaI requirements. Matter5 on which ar• rwulrod lo r•port by exception In the Iyht of the kno￿edge and underslandin9 of the charitable company and its enwronmenl obtained in the course of the audit. we have rw)t wjentsfied material mi8Statements w) the d1￿CtOrs, ￿N)rt included within the trustees, report. We have nothing lo report in respect of the frAltMing matter5 in rela￿n to which the Companies Act 2006 require us to report to you rf. in our wnion: the parent charitable c¢)mpwy has not kept adequate and proper accounting records or relwns 8dequate for our audrt have not been re￿Ved from IKanches not visiled by us.. or the parent charitable COmp￿Y'S financial stslements are not in agreement wilh the accounlirYJ records and ￿turnS. or certain discloswes of trustees, rem￿n￿l￿)n $￿ifie(l by law are not made.. we have rKt received all the infonnation and explanations we require for our aLJit.' or the Iru5tee5 were not entitled to prepare the fina￿la1 statements in accordance ith the small companies regime and take advantage of the small companies, exemptions in Fryaring Ihe trustees. report and from the requirement to prepare a strategK repjrt. Responsibilities offr￿¢￿$ As explained more fulty in the twstees. respMsikn"lrties statement set out on ptye 11, the trustees are also Ihe directors of the charitsble company for the wrposes of L))mpany law) are responsible for the preparation of the finanoal statements and for being satisfied that they give a true and fair view. and for such intemal contrd as the tru51ees delennine is necessary to enable the preparatmjn of financial ststements thal afe free from material misststemenL whethet due io frwjd 01 error. In preparing the financial statements. the trustees are responsible for assessing the charitable CCmP8ny's abilty to continue a5 a g￿n9 concern. disdosing. as app1Th￿e. matters related lo going concem and u&ng the goin9 con￿rn basis of accountsng unless ts twstees either intend to liquidate the charitable eompany or to cease operatsons. or have no rea￿'StiC altemative but to do $0. Audltorfs responslbilities for the audlt of th• fln•nclal statements Our objectives are lo obtsin reasonable assur8r￿ 8bcMJt whether the group financial stslemenls 8s a whole are free from matefial misstalemeni. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit ¢￿(j￿Ie0 in accordano ¥ith ISAS (UK) v4il ahvays detect a material misslatemenl when il exists. MissLements can arise from fraud or error. and a￿ considered material if. in(lividualty or in the aggregate, they could reasonably be expected to infiuence the ecor￿MiC decIs￿n5 of users tsken on Ihe basis of these finanoal ststements. 14

CITY OF LONDON SINFONIA LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023 Irregularilie5, induding fraud, are instances of non-compliance wth laws and regulations. We design procedures in line with our responsibilities. ouuined above. lo deleci material misststements in respect of irregularities, including fraud. The extent lo whth cwr procedures are capable of detecting irregulaiilies. induding fraud is detsiled beh)w. We oblained an understanding of Ihe leg* and regulaw Iramework applicable to the preparati¢)n of the financial statements of the charity, and the procedu￿5 that management adopt lo ensure cL)mpliance. We have ¢¢￿sIdered the extent lo which nLM-compliance might have a material effect on the financial statements, and in particular we identrfied.. Ihe Companies Act 2006. Ihe Charity SORP (Statement of R￿QmMended Pracb"ce) and Financial Re￿ing Standard apph"cable in the United Kingdws and Repubjic of Ireland IFRS102). We have also i(lenlffietl olher laws and wulabons Ihal do not have a direct effect on the amounts or disdosures within the financial Statements, bul for which complrance is fundamental to the charity's operations and to avoid material penalties. including ernFloyment law. health and safety law and data protection regulations. Having revlewed the laws 8nd regulatrons applicable to the charity. we designed and performed audit prO￿￿TeS lo obtsin sufficienl appToprtate audil evidence. Specifically. we= Selected a team with sector experience for complelhng the audit.. OtrAained an understsrtding of the dwrrty's wocedures for ensuring comph.ance with laws and regulations". Obtained and reviewed intemal policy and procedure documents", Made enquiries of management and the truslees regarding whethw they were aware ol any actual or suspected incidences of non4ompliance with laws and regulations: Obtsined arKI reviewed meeting minuies.. Reviewed legal expenses accI￿nts for indications of any powble non•compliance.' and Reviewed the completeness and accura¢y of any disclosures made in Ihe financial stslements. We assessed the SUs￿p￿bIlity of the tharitys finanaal ststements to matenal misstatement, including considering how fraud might occur. Thi5 was perfomied by". Making an assessment of the tharity's contrd environment, system5 and cA>ntrc4$. induding identifying any weaknesses ar¥J considering the risk of management override of contrc4s: Asse$sirrfJ the sus￿PtibIlity of the thwty's finanoal sLitemenls to material Mi$staten￿n( induding considering htw fraud could OC￿1. COn￿dering whether tt￿re are any In￿￿tIveS or opportunities for management to manipulate finanoal results., Obtsining and evaluating the trustees. assessmerrt of the risk of fra￿J. and enquiring as to whether they were aware of any actual or suspected fraud" Reviewing the aCC￿nting pdicies and accounting estimates for signs of management bias., and Idenlrfying key risks relattng to irregulafiti.es indudrng the completeness of income. completeness of liabilits"es, esb"males involved in the allocation of support costs and stsff costs auoss ath"vilies. and management override of controls. We then designed audit procedures to respond to the risks i(lentifieil. induding perforrring sub5tsnlive testing in respect of the complelene5s of income and liabilities. assessing the estimation techniques for Ihe allocation of costs and rwewing the related calculations. review of relevant correspondence and minutes, discussions with management and ￿rrotsOra(1on of their statements. a ￿VIeW of systems and contrds. and a review of joumal entries and olhef a￿Unting eslimates. 15

CITY OF LONDON SINFONIA LIMITED INDEPENDENT AUDITORS, REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2023 The audil has been planned and perfo￿e￿ in in a¢￿￿0￿e wilh audiling standards. Wever. because of the inherent lirrilations of ￿di1 procedures there remains a risk that we wll not delect all irregularities. including those that may lead lo material misstatements in the ffinanci81 stslements. The￿ are Inherent difficulties in detecling irregularities. and irregularib.es that result from fraud may be ffK)re difficult to delecl than irTegularilie5 thal result from error. lor example due to concealment. override of conlrols. Collusic￿ or mlsrepresentslit￿$. In 8d¢Jilion, the further removed non-compliance with laws antj regulations is from the events and transa¢ts"ons reflected in the finanual statements. the less audit procedures are able to identify it. A fvrlher descviption of our respons￿lI￿e$ for the avdtt of the finanoal slatemenls Is Ifxale(l on Ihe FinarKi81 Reporting Council's websrte at.. .fr itors onsi . This desuiption f0rm5 part of our audilorfs report. Ust of our report This report is made solety lo the Charitsble ￿mPan￿$ members, as a body, in accordance wlh Chapter 3 of part 16 01 the Companies Acl 2{￿. Our audit work has been undertaken so Ihat we might stale to the charitable ￿MpanY'S membefs and trustees t￿tse matters are required to state to them in an auditorfs report and for no other puw. To the fvllesl extent pemiitted by law. ¥￿ do not accept or assume responsibilTrty to anyone other than the charitable eLJmpany. the charitable companls member8 as a boty and the Charital￿e company's trustees as a b&ty. for our a￿111 work, for this report, or for the opinions we have formed. A S Healty FCA CTA DChA Senior Statutory Auditor For and on behaw ol: Lindeyer Francis F•rguson Limll•d ststulory Auditors Chartered Accountants Dale= North House 198 High Streel Tonbridge Keni TN9 1BE 16

CITY OF LONDON SINFONIA LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AIARCH 2023 Total funds 2023 Tolal funds 2022 funds 2023 fund8 2023 Income from: Donations and grants Charitable actmb.es 409.154 585.178 131.042 540,196 585.178 530,770 477,352 T¢)tal income 994.332 131.042 1,125.374 1,008.122 Expendfturn on: Raising funds charItsb￿ acti￿￿e5 103,159 923.411 103.159 1,051,471 117.612 1.039.099 128.( Total expendilure 1.Q26.570 128.(￿0 1.154.630 1.156,711 N•t expenditurn before lax { 32.238) 129.2561 (148,589} Corp)ratson tax credit 10 74.795 74.795 79.710 Net income 1 (axpeftdlturn 42.557 2.982 45.539 (68.8791 Trnnsfers b•tw¢en funds Nèt mov•m*nt in fund8 42.SS7 45,539 { 68.879) Reconcillation of funds: Total funds brought forward 8.099 13,018 21.117, 89,996 Total funds carr￿d foMaTd 15 The statement of finaA¢ial acliwlies Ir￿ude¥ all gains and losses recognised in the Fer￿. All ine<Mne and expeThliIu￿ deri￿ from C￿tinury acti4ryties. 17

CITY OF LONDON SINFONIA LIMITED CONSOLIDATED BALANCE SHEEr ASAT31 MARCH2023 2023 2022 Flxed a$$ets: Tangible assets 11 7.447 9.916 Curr¢nt assets: Debtors Cash al bank and in hand 13 128,420 100.482 220,781 16.978 228.902 237.759 Llabllitles: Cfeditors.. amounts falling due within one year 14 (169.693> (226.5581 Not currnnt a88ets 59.209 11,201 Total net avJets 86.656 21.117 The funds of the chavity: Restricted income fund$ Unrestri¢ted funds 16,000 50.656 13,018 8.099 Total funds 15 66.656 21,117 Approved by Ihe t¥)ard of truskes on .......................... nd signed on its behall by.. J Singer Chairnian Cc¥npany number: 01692341 18

CITY OF LONDON SINFONIA LIMITED CHARITY BALANCE SHEET AS AT31 MARCH 2023 A¥ resLited 2022 2023 Fixed assets: Tangl￿e assets Investments 11 12 7.447 9.916 9,917 Current assets: Debtors Cash at bank and wi hand 13 122.500 1fy).481 220.781 16,979 222.981 237.760 Liabilities: Creditots.. amounts falling due wilhin one year 14 (207.010) { 257.331) N•t ¢urr•nt ass•ts 15.971 119,571) Total nèt asvts 23.419 19,6541 The funds of the charity: Reslricled income funds Unrestricted fLJnds 16.000 7,419 13,018 122,6721 Total fund6 15 23.419 19,6541 fv.20 the board of trustees on ..... ..... .. and svjned on its behaw by: J Singer Chairman Ci)mpany number. 01692341 19

CITY OF LONDON SINFONIA LIMITED CONSOLIDATED STATEMEMf OF CASH FLOWS FOR THE YEAR ENDED 31 AIARCH 2023 2023 2022 Cash Il¢)ws from operating activilles: Net cash provided by op8rating activitss 85.736 9.809 Cash flows from Investing acti¥ili•8: Purchase of tsngible assets { 2,232) (595) Net cash used in invesling aclivils { 2.2321 15951 Chang• in ca8h and ¢ash •quiVa￿nts for th• year 83.504 9.214 Cash and cash equir41ents at the beginnir#J of the 16.978 7.764 Cash and eAsh equival•nts at th• •nd of th• y•ar 100,482 16,978 Reconcillotlon of net In¢¢)mg to not cash Ilow from opgrnting aetiviti•s Nel income l {expenditure) As perstalement offinan¢ial odivthes 45,539 (68.8791 Adjustments for.. Depreciation charges Decrease l (increasel in debtors Ilncrease) I de¢rease in credrtOTS 4.701 92,361 156,865) 6.949 (65,1331 136,872 Net eash provKled by oper"ng 85,736 9,809 20

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1 ACCOUNTING POLICIES The principal accounting policies a¢tyed. judgements and key sources of estimation uncertainty in the preparab'on of the finan¢io1 statements are as follo￿. Basls of proparatlon The financial ststements have been prepared in accordance wlh -AccountirKJ and Reporiing by Charili8S'. Statement of Recommended Pracbce applicab￿ lo charities preparing their xcounts in a￿rdance wth the Financial Rewrting Standard appltcable in ￿ UK and RepublK of Ireland IFRS 102}" {effeclive 1 January 20191- (Charities SORP IFRS 1021). the Finanaal Reporting St•)dard applicabk in Ihe UK and Republic of Ireland {FRS 1021 and the C¢)mpans Act 2006. City of Lon(hJ) Sinfonia Limited meets the definibon of a puL4ic benefft entity under FRS 102. Assets and liabtlities are inilialty re￿gniSed at hislorical cost CY transact)n value unless 01he￿•1se slated in the relevant accounting policy note(s). The financial ststements are kYesentsJ in pourKls sterling arKI rounded lo the nearest pound. Consolidation The financial ststW7)ents consolidate the resulis of the charity and its wholly owned subsi¢Jiary CLS Producb'ons Limited on a linewine basis. A separate Slalemenl of Financial Activthes and Incomè and ExperKiilure Account for the charity has not been presented because the tharity has taken advantsge of Ihe exeMpth￿ afftirded by secti¢)n 408 of the Companies Act 2006. Golng Concem The last 12 months have seen an improvement in the exlemal market in vknich the Charitable company operates . The Orchestra's acbwty has witinued to grow and adapt to the new dimate and the financial position of the orchestra is teginnin9 to show stsbility, desyte the reluctance of aLKliences to retum to the concert hall and a number of key slaffing wacan¢i8s for part of the year. Al the end of the 2022123 financial year the 0￿hestra Significantty improved its reserves posibon, and il is anticipated that reserves will conb.nue lo fK)kJ, into the 24-25 finanoal ￿r. The Trustees reccgnise that. in Comm(￿ with a large wmber of organisations in the Arts sector Nthich rety on extemal funding from a variety of styJrr£s. CLS INes Y+iih a degree of material uncertainty. Specifically. that while free reserves v￿e badly hit in the paThjeM￿ pericxl. bjt have now been increased again in the current year, they are slill bek)w the targeted reserves policy level of three months of operatsng expenditure. A150. during this perirxj. thefe has been signfftant reliance on the philanthropic giving of a generous and loyal Board . ￿d. in parlicular. the Chairnian. However. for the reasons gNen in these report and accounts - especialty the new flexible budgeting system with deadline5 introdueed suceessfulty this ￿ar - the Trustees are confident that with the Slgnfficanl chawes to business and operating poltcy going fopKdrd. the Company will remain in operation for the foreseeable future. Financial Man Operaling surplus at year end means thai free reserves ai Ihe balance sheet dale have improved and . vthilsl not yet al the policy level of 3 months operab.ng ts)sts, have improved the chari￿s ability to deal with expected costs and futu￿ outcomes. 21

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 I ACCOUNTING POLICIES Continued 8LKlgets prepared for finorKial years 202Y24 arKI 2024r25 are ftexibk avxl can be adapted for planned activity to meet both Ihe exigencies of redwed income aThJ allow for gfffi￿h rf fun(Iraising tsrgets are exceeded. Budget adivity is in ￿'ne wlh a conseThati¥e estimate of income. Core overhead costs have been brwght in line V•ith OLrtpul and organiSat￿al need, and wll continue lo be carefully controlled. The lundraising targets wrthin the budget have been set in the confidence that they are realistic based on pledged gmng. A strong pipeli￿ of frJrKlraising requests across stslutory. trust 8nd indMdLJal sources extends into 2025 ag8mst a deveknped pr￿r￿me of actl￿be$. Executive and Govemance After a competitive Fwocess managed by eonsuiiants Saxton Barnp￿de. CLS welcomed new CEO Rowan Rutter in Aw'l 2023. Rcy•van arrived al CLS ￿￿th a considerab￿ trxk re￿r￿ in Ihe arts sector. and specific skills in organisab.onal developmenL event produarrfJ. and ci>mpany 'tumaround. The Trustees are confident that they have found an effective Indr￿￿val vkno has Ihe and bpadership ski115 to: revitali5e CLS'5 profile differenliatrng it from other orchestras.. create I￿¥ markets for its concert 8nd partiCiP8tion work capatrAe of generating ggnfficant revenues: and increase its fundraising capacty with an emphasis on philanthropy. In 2023, the company recruite(l a Philanthropy Manager V+th demonstrable eX￿rienCe in lassical music arKI opera. and a senior Finance Director vhwe track rewd covers boih the commercAal and charitable sectors. These addition81 recruitinents ak)ngside the new CEO &Jd considerable and necessary expeflise to the organisalion. These rewitments rnatth the planned overhead expenditure for the year. In addition to the strengthening of the CO￿ empbyee team. an Artislic Council Vill be established to support the ongoing creative development of ts organisation and to ensure (¥e8tive ￿abilIty and expansion wthin the sector. broadening appeal to new audiences. ftjnders. partners and other stakeholders. The six individuals on this courril comprise a dNeT5e and broad range of specialisms writhin mu$1¢ and sound. participalion and p9rfrym￿. This is Support￿ by changes in govefnarte in 23r24r25 ￿arS ill see more diversity and representation at 803rd and executr¥e level including the re￿￿1 of new Board members relevant experience. backgrounds and capabilitie5. part￿r$hI The Opera Holland Park contract lor 2023 has been deliwed. ￿1h the 2024 eontract in final negotiation phase, ensuring four months of perf0mlan￿ I￿rk in both financial sears. New partherships with Pelerborough Theatres. London Review of Books and intemationally acclaimed theatre company Curious Directive and Jcannesburg Theatres have been estsblisw with v)rk planned for 2023. 2024 arKI 2025, broadening national and intemational reach. Concerts and events k￿gStsndinY p8rtners. Sl Paul's Cathedral, Salistxjry Cathedral and C￿dIleM$ Fesbval are cMfimed for 2024 Nmth concert vK¥k planned for Cadogan Hall. Queen Elizabeth Hall Southbank Centre and Sl John's Smilh Square. Audi nc and Brand D CLS have appointed SplitPixel lo de&gn and develop a new y￿b$ite. costs for ￿1¢h have been fully funded. vknich ¥MII be tsjill throughout 2023 and launched in February 2024. This will also inclLKle updated branding. 8 more conlemptxary aesthetic and a streamlined process foi prc¢essing gtfts from ¢￿nor$. Further lo Ihis a Branding update exerose has teen delivered. making the CLS brand. logo. cdours and 'voice' more contemporary. more easily adapled to design and wlh A+++ *¢cessibiltty rating.

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1 ACCOUNTING POUCIES ¢ontlnu•d The Trustees ackrthledge that sustained resilienee must be W1￿11$ed in the fve-year strategy from 2024 onwards. Together with Ihe Board and ￿ the ir¢Lrt of key stskeholders. the CEO is undertaking a 360 review of the organisatton. to launch a new Strategy with SUPPOTting missN)n, Msion and values in 2024. The Board and Executive are further SUPFrfyled in this development by Avay Days. the most recent of ich held in October 2023. Vith a forJJs on stralegy. brir¥Jing the Board and Executive Team together for an impassioned day of ap￿led thinkirvj. skilfumy facihtsled by an exlemal This onwing groyhh of thin￿n9 and ideation is axompanied by a refreshed EDI strategy Wthich is augmented by new partslerships y￿1h Reve￿ Arts,a se¢lor4eading agenry and consultsn¢y for global majority arbsts. arKI OrganiSati￿al and Sector ¢hange-maker5 Ramps on ihe Moon specialising in disabilty-led arts. leading to a developJ creation methoddcgy aThJ a m¢ye iverse porffolio of output across the organisation. Summa The Trustees coThsider that continuing swrvjs on cyering costs ￿1h actmty costs rigorously contromed, the ability to adapt acti￿ty to income and the apwrbtsnent of key memkrs of staff together with synificanl slep4hange in organisational approach. Strateg￿ thinking and planning give a reasonable expectation that the charitable company has adequate resource5 to continue in existence for the foreseeable flrture. The Trustees are Q￿fident thereth that the company wdl remoin in operation for the foreseeatle future, and they have adopted ihe going Car￿eM basis in preparry the finanu81 stslements. Incom• Income from donations ond grants recconised Vlhen the chanty is enb'ued to the funds. the receipt is . probable and the amount can be measured rdiatAy. For donations. this is usually on Teceipt. For gr8nts. this rs usually when a lomal offer is made in vKiti"rKJ. un￿$ the grant contsins tem)s and Condit￿￿8 oulwde of the ¢hariVs contrd must be met before Ihe tharity is entilled to the funds. whe￿ grants are received in ￿sponse to 8 propos81 including a budgeted timescale, SLtch that ts timescale for the experKlilure is implot in the grant agreement. Ihe irwme is recogni5ed in accordance wilh that limescaie. Income from charitable activibes 15 re(¥Jgnised Ihe ￿￿3d to tAffi￿h the in¢me relates. Fees oThJ box office reven￿$ are recogni5ed vthen the assooated evenl tskes F*e. Inwme receivgd in a¢fvance is accounted for as deferred income. Income is stated nel of VAT and trade discwnts. Expenditure Expenditure is recLyJnised a present legal or constructive oblig81ion exists at the balance sheet date as a result of 8 past event. it is probable Ihat a transfer of e¢onomic benefts wll be required to settle the obligation. and the amounl can be estimated reliably. Expenditure has teen clasSif￿d heathn9s Ihal aggregate all costs related to the category. Staff costs are allrtaled on the basis of staff ts"me. 23

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1 ACCOUNTING POUCIES continued St¥)port costs. vthich 8re those costs rekting to fthctions lMch asstst the V•Dfk of the Charity bul do rK)I directly relate to its activities. have bewi allocatexl to Ihe acbwties undertaken ty the charity on the basis of direct expenditure on those acbvth5. Taxation The charity is exempl from Co￿9ratI¢￿t tax on its NKome and gains lo the extent that these a￿ applied lo ils charitable objects. Orchestral Tax Relief available for qualif￿"ng projects 15 recTr3nised in the year in which the projects take place. Fund xcountlng Unrestricted fvnds can be used in a(%ordance V•ith the chartsble Obl￿tIveS at the discretion of the trustees. Reslricted fvnds can rMly be used for ihe parttcular restricted purposes 7hiihin the objects of the charity. RestrictKsns arise vknen spe¢rf￿d by Ihe donor or kn funds are raised far particular restricted purposes. Tangible fixed assets and depr•clatlon Tangible fixed assets a￿ ststed al cost less ¢ieprecIalit￿. Dweciation i5 wovKJed at rates calculated to write off the cost less estimated realisable value of e￿h asset over its expected useful life. as followE'. F￿tures. fittings and equiwent Musical instruments Straight li￿ basis over four ￿ar$ Stratght h"r basis ONW kn years Invostments Invesknents in subsid1￿ mdertakings are stated at cost less provision for impairment Financlal instruments The charity only hès financial instruments of a kind Ihat qU￿fy ès basic finartial instrurnents. Short tem basic financial instruments are initialty recognised at transaclion value and subsequenlly measured at Leasing Rentals pa￿a￿e under operating leases are charged against inc(*ne on 8 Stra￿h1 line basis over the lease term. Th8 onty operating lease rdates to Ihe chantys premise5. 24

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1 ACCOUNTING POUCIES continued Prior period adjustrnent The prior period comparatives have been adjusled lo gross up VAT payable by the parent charity and coverable by the trading subsidiary ￿ inlercornpany transacbons in the absence of a VAT group. These adjustments eliminate fulty on consolidats.on arNI so the onty effect is on the parent ¢hW balance sheet an(J result for the JEar. The effect on the parent chanty C￿ be summarised as folltr￿: 2023 2022 VAT liabrfity Opening resefve5 (43.237) 30,771 { 30,7711 17.486 Effect on re￿11 112,466) { 13.2851 2 INCOME FROM IKINATIONS AND GRAP4TS 2023 2022 Grants, corporate membership a￿1 ottrEr donations Donations from individuals induding Gift Aid Patrons 210,661 275.087 352.667 133,686 44.417 540.1 530.770 In ts prior period. £156.328 of Ihe i￿rne from grants and donatKMs was restricted. 3 INCOME FROM CHARITABLE ACTMTIES Concerts & •vents 2023 projects 2023 Total 2023 Total 2022 Fees and box office revenue 570,521 14,657 585.178 477.352 570.521 14.657 585.178 477.3S2 4 EXPENDITURE ON RAISING FUNDS 2D23 2022 Staff costs Donor cultivation Note 9 97.779 102.513 15.099 103.159 117.612 25

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 5 EXPENDITURE ON CHARffABLE ACTMTIES Con¢¢rts & Outreach prolects 2023 ¢v•nts 2023 Totsl 2023 Total 2022 Direct costs Support costs Note 6 Note 7 634.499 134,589 232.966 49.417 867.465 184,006 828.445 210,654 769.088 282.383 1.051.471 1.039.099 In the prior period, £202,829 of the experwJltu￿ on charital￿e xli￿tIeS vos from restricted fiJnd& 6 OIRECT COSTS 2023 2022 Fees lo.. Player5 Sobists Conductors Tutors and cc¥nposers Staff costs Concert and rehearsal hall hire Instrument hire Mug¢ hire and purchase Advertising and marketiThJ Production costs Pmgrammes Other dI￿¢t costs 491.757 21.811 2.500 42,591 239,973 29.191 2.675 4.631 450,253 10,329 6.700 27.975 217.971 24.837 1.310 38.719 11.685 8.639 700 29,187 Note 9 9.677 767 17.932 867,465 828,305

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 7 SUPPORT COSTS 2023 2022 Staff ￿$1$ Con¢Juctorfs expenses P￿miseS costs Other office costs Compuler costs Insurance Travel and motor expenses Legal and professional costs Marketing, ￿n$￿￿OnCY and photcgraphy Depreciab"on Bad debts Interest Auditors, remunerati Other fees paid to auditors.. accwntancy fees Nol• 9 40,357 4.2cN) 17.089 33.316 8.339 11.004 6.148 23,230 9.929 4.701 48,561 4.200 36.778 31.198 10.728 9.697 4,286 415 23,976 6.949 6,290 426 4.800 22.3 293 20.6C 184,006 210,654 B NET INCOME I (EXPENDITURE) Net incorne l (expenditure) is 5tsted after chwg'ThJ: Auditors. remuneratbon for audit services Auditors, remuneration for accountsncy seThices Depreciation Renl paid under operatin9 leases 4.800 4.701 12,303 6.949 32,760 As pemiilted by $408 Companies Acl 2006. the parent charity has not presented its own Statement of Financial Aclivibes and ￿lated notes. The parent chwiVs net income for the year was £33.07312022: net expenditure as ￿$tated £82.1641. 27

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 9 STAFF COSTS 2023 2022 Salaries EMploye￿S National Insurance Employerfs pen￿on costs 338.598 31.871 330,526 30.473 8,046 378.109 369.045 The average number of emrAosees based on h&•Jcount during Ihe ￿r was as folows: 2023 No. 2022 No. Concerts and stsged events Outrgach proje¢t5 Fundraising Admirmstration a￿1 marketing 10 During the ￿ar. the emoluments received by one member of staff fell in the band £80.￿l- £90.000 (2022". one member of stsff in the band £60.¢J)1 - £70.000). 10 TAXATION 2023 2022 (￿leStra Tax relief- payable lo subsidiary o)mpary 74,795 79,710 28

CITY OF LONDON SINFONIA LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11 TANGIBLE FIXED ASSErs Flxture$, Musiul fittings & instrumonts wuipm•nt Group and Charity Total Cost At 1 April 2022 Addilions Disposals 10,550 46,361 2.232 19.2491 56.911 2.232 19.2491 Al 31 M8f¢h 2023 10.550 39.344 49,894 Depr•clallon Al 1 April 2022 Charge for the year DisFosals 6.191 727 46.995 4.701 19.249) 3,974 19.2491 At 31 March 2023 6.918 35.529 42.447 Net book value At 31 March 2023 3.632 3.815 7,447 Al 31 M8r¢h 2022 4.359 5.557 9,916 12 INVESTMENTS AND SUBSIDIARY COMPANY The Charity owns 100% of the Ordinary share cawta of £1 of CLS PrOd￿lI0n$ Limite(1 8 compariy incorporated tn England and Wales {No O¥N)84330) Ihe same registered office as the charity. The compan¥s only activity is that of a pr0dl￿110n compary. The compa￿5 results for the year and nel assets at the end of the year We￿.. 2023 2022 Tumover Expenditure VAT adjustrnenl Tax recoverable 173.474 1248,2691 12.466 74.795 282.379 1362,089) 13,285 79,710 Profft forthe year 12.466 13.285 Capttsl and reserves al end of ihe pr 43.238 30.772

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2023 13 DEBTORS Group 2023 Charity 2023 2022 2022 Trade debtors Amounts owed by grryjp urKlertakws Tax rewverable er debtors Prepayments and accrued irume 4.451 27. 4.451 74.795 27.656 106,840 74.795 13.420 35.754 106.840 7.500 78.785 78.785 35.754 128.420 220.781 122.￿) 220.781 14 CREDITORS". AMOUNTS FALLING OUE WITHIN ONE YEAR Group 2023 Charity 2023 2022 2022 Trade Creditors Tax and SOCI￿ security Tnjstee loans Accruals and other ¢7editors Defeffed In￿Me 32.932 27.364 55.866 32,932 64,681 55,866 61,355 42.375 17.022 61,326 78.782 42,375 17.022 61.328 78.782 169.693 226.558 207.010 257.331 Deferred income ￿mprises. Income deferred from Ihe wevious year Released lo the statement of financial acliwt*s Arising during the cilrrent year. Gran15 and donab"on5 required to be spent in luture peTK>Js 78,782 (78.782) 20,483 { 20.4831 17.022 78.782 17,022 78.782

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15 MOVEMENT IN FUNDS- 2023 Al 1 Aprfl 2022- as Trnnsf8ry1 At 31 Ma￿h taxation 2023 Unrestrthd funds General fund Deslgnated funds." Kidsspa CrNdfundir { 24.547) 813.770 1790.767) 11,544) 1.875 1.875 7.088 7.088 Charity fvnds Tradlng subsl 122.672) 30.771 820.858 173.474 1790.767) (235.803) 7.419 43,237 74.795 Groyp funds 8,099 994,332 (1.026.570) 74,795 50,656 Reslrlcted funds Parti¢ipatr"on projects Artist supr4)rt & trairm Musicians AwaTd Staff posts Website 10,150 { 81.692) { 2.8681 { 4,5001 (39.000) 8.000 500 7,500 Group arKI tharity funds 13,018 131.042 1128.060) 16,C(X) Total group funds 21.117 1.125,374 (1,154.6301 74.795 66,656 Total charity funds { 9.654) 951.9)0 1918.827) 23.419 D•signat•d funds: KidsSpa¢e The tnjstees have designated f￿dS to a project entided KMYsSpace that is going lo be 8 dedicated section of Ihe CLS website, linked to Ihe orchestras athiit*s for young thihdren aged >7 yeats. providing interactive game-based musical activities lo be used by children in educ8tiLX) or home environments. as an added value element to our existing projects ￿ trm's area. Crowdfunding This fund relates to a fundraising event in March 2023 to raise knds for actmties that will take ￿ace in the year to 31 Marth 2024. Rostricted fvnds: The restricted funds arise from grants and donatws to fvTrJ partKular projects or items of expenditure. and unused income is carried fOr￿ard to cover future expendiiure on those areas. Detsils of restricted funds active during the year are as folkwts: 31

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2023 15 MOVEMENT IN FUNDS continued Partlclpatlon prole¢ts This lund comprises ￿an1$ donab"on5 received to suP￿rt the charitys year-round programm8 dedicated to making in sthools. hospitals and communibes ar￿ also grants and donations received lo support the charitys ￿tIlk in hospilals arKI care homes to allow musi¢ to aid in the healing process and prO￿dIng an outkt for those r￿d il most Artist support & tralnlng This fvjnd comprises lunding received to supwl the Perform￿ of emerging artists in concerts and funding for stsff training. Musicians Award This fund comprises a donat￿ rec•¥ed to sw)wt perfonnance of emerging artists in concarts. Staff posts This fund rdates to grant fvnrfing to Cover stsff costs. W•bsite This fLfftd comprise5 a donati￿ from an indNxkno1 speeificalty for *ebsite develotmnent. MOVEMENT IN FUNDS. 2022- as r•slat At 1 Awll At 31 March Transfernl taxation 2021 In¢omt Exp•nditur• 2022 UnrestrKted fund$ General fund Designat•d lund.. KidsSpa¢e 11.116 .415 (605,078) (24,547) 1.875 1.875 Ctsnty fvnds Tradlng subsldlary 12.931 17.486 569.415 282.379 (605.078) { 348,804) 122.672) 30,771 79.710 Group funds 30.477 851.794 (953,882) 79,710 8.099 Restricted funds Participation Projects Artist support & training Diary of a Youn9 Naturalist RPS AUdIer￿ Fund Website 21.316 5.203 8.000 25.(MXI 79.710 I ￿,876) (5,203) I78.(￿} 125.OXI} I3,7￿} lo,1￿1 70.0 3.750 Group and charity funds 59,519 156.328 (202.829) 13.018 Totsl ￿0Up funds 1.008.122 { 1.156.711) 79.710 21,117 Totsl charity funds 72.510 725.743 { 807.907} (9,654)

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15 MOVEMENT IN FUNDS- 2022- ¢ontlnu Dlary of a Young Natur*ist This fund comprises grants from Ihe Leche Trust. PRS and ACE tOWdrd Ihe commissioned dremali¢ song cyde Diary of a YouTrJ Naluralisl as part of Ihe CLS 2021 9)Ih Anniversary seaw. RPS Audience Fund This fijnd comwses a 9￿1 received from the Royal Phdham)onic SOW to support the CLS, audience development pn)gramme. Webshe This fund comprises donatws from ACE SFeafKally for website development 16 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS- 2023 Unrnslrl￿Od Restricted funds funds Total funds Fund balarKes * 31 March 2023 affj reWe￿ted ty. T8ngible fixed assets Nel cu￿fit assets 7.447 7.447 59.209 16.000 16.000 66.656 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS- 2022 Total funds funds fvnds Fund balan￿S at 31 March 2022 represented ty. Tangible fixed assets Net current assets 9.916 11.8171 9.916 11.201 13.018 8,099 13.018 21.117 17 FINANCIAL COMMITMEP Al 31 March 2023 the thanty was committed to fijture mir¥mum lease payments under non-cancellèble operating leases as follows: 2023 2022 Land and buildngs Due vAthin one year In to five years 4,219 10,000 4.219 4,219 14.219

CITY OF LONDON SINFONIA LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18 RELATED PARTY TRANSACTIONS The followng are considered to be the charitys key management personnel: The Board of Trustees Chief EXe¢￿tive Chief Oper81irvJ Off The tolal amount of employee ber￿fftS receive(1 ty key management Fersonnel during the year. inluding Employer's National Insurance aTrJ pension, £81.773 {2022: £116,2gYJI. There were no trustee5' remLneralion. ¢)tsr benefits n(Y reim1￿rSed expenses paid during the current ¢y prior period. In ag￿egate. trustee ￿nati￿s £269.502 12022.. £147.5eii} w)duding gift aKI. In addition to the donations. one trustee prwded an interest free ban of £1CQ.000 {2022.. £Nil). The baknce outstanding at the year end was £50.000 (2022.. £Nill. Vlith Ihg other £50.(W ha￿ been ￿￿Verte¢l to a gift to ihe harity. 19 STATUS City of London Sinfonia Limited is a chwitable company fimited by guar8nlee incorporated in England and Wales. In the event of the company ￿ng I￿)urKI up. the liabilty in respect of the guarantee is limited to £5 per member of the charity. The address of the regislwed 0ffi¢o is 1st Flc4y Radisson c￿rt, 219 Long Lar￿. L(￿￿on. England. SEI 4PB.