REGISTERED COMPANY NUMBER: 01692341 (Ell%land Wales) REGISTERED CHARITY NIIMBER: 286818 Report of th• T￿$1￿￿$ #tyd Financial St2temeuts for the Year Ended 31 March 2025 for CÉty Of Londoll Sinfonla Llmlted Anstey Bond LLP I Cl)anerhouse M¢ws London ECIM6BB City Of LondotE Sinfonia Limited CoTrte￿ts ofthe Consolidited Fin#n¢ial state￿ents for the year tTLded 31 Mai'ch 2025 PAge Cb2irmxn'$ report Report of the Tru5te&% 7 to 16 Report of the IndependeAt Auditon 17 to 18 Con$olid8¢ed State￿ellt of financial activities (aucluding 1￿C0S￿e and expenditure aCco￿llt) 19 Consolida¢td Balance Sheet 20 Charity Balanee Sbeet 21 CoJasoladLted Stfjtom¢nt of C&&h Flow8 Notes to the Cg$JJ Flow State￿ent Notes to the Financial Statements 24 to 35 City Of London Sinfonia Limited Ch&irmAn's Report for the year ended 31 March 2025 A. Over#ll Framework Ind Conelusiorns There al'e times whtll a Chair needs to cojnbine tlie pr8gmatic with the philosopliical. As is the case in my Report th55 year oll what is the fjrstyear of a new fIve-year journey- our"Music And.... Strategy towards our 60 anniveisary in 2031. enuine i'edefjnition of the role of thc Oichcstra in delivering the highest quality MUSIC￿ experiences to new audiences in new and traditional ways. ID this tr*nsformatioJ)aI year. how does one objectively measure su¢¢ess' and. as a se¢Dnd question, why does success Matte￿ On the first question I will apply here ttlree litTnlls tests. Firstly"auibeDticity" as measui.ed by l)ow our founder, Richard Hickoi would reco8nise and approve of how the platforni he left ha5 now been adapted alld is being clianged for the current ¢limate. The se¢ond test is-rel¢vance" as measur¢d by how we are addressing now The hiohly Chanoed needs of all stakeholders, in pionterinu a new way forward foT orchests'as. And thirdly, how are we doing terms of'differentiation" to justify our long-term sustainability in a competitive world_ Regarding tny second question of "why does it matter?Ytr apart from 5ucce5s breeding enthusiasm, motivation, 52tisfaction and thErefore mol'e success, such journeys do require l¥ge investments of energy and funding, and we need to assess both the desirability as well as our owi capability to take this project further with the aitn of long-terni sustainability while meeting our 5trdte ic and operdtional objectives. I will address both of these questions in detail b¢low, bul in conclusion, the three lÈtmus tcsts, while teaching us impojtsnt lttssoni for improvement in the future, h&vt come out posittvely for all stakeholders, while invesiments Costs have been m￿ched by income leaving reserves at a similar level to last year's. On the second question, based on oui. findinJo this year, we have projected forward forecasts for the next two years on a cons¢rvativ¢ basis which ailows us to feel extremely )IifiJeiit 4bouL uuj Ouiiix CuJii¢i1i sldlrIll¢iiL, ￿[1d uur dbiliLy iv iQV#S1 in the fuLLW¢_ I￿￿¢¢lI Iv we £127.500 of our reserves for that investtnentwliich will still leave us with reserves ill excess of our tai'geted tliree n)onihs of operational costs_ A thbute to Board, Executive Team, Musicians and all of those working with us to produce those i'esults. "MIE2 Donor5.' iA)rigteYm value,. beyond efften3inrneDL feel 800dladdln8 valLTe; unlty fvnpact-the Dew.. thanseihings Comtn14llitles.' More inclusioo.. Openi￿ a¢¢es$' b￿b5t0 btsrfd arovnd,. $erle5 of or*offs C. Was the First Year of the"Music And... Str#legy Succe5sfulg TurRit)g now to the qualiutive and quantitative assessments of the year. starting wirh tbe three littnus ttsts.'- L Authenticity. We fr¢1 ihat Iucliard Hickox would have recognis¢d and re6pected this oiven tbat CLS is still=. Usints the exts30rdinary skills and talents of our mL)si¢ians to go beyond straighifonvard'"perfor[n￿l¢eS at" an audienct to'interdct with- them. Heavily ¢ommissionints ￿eW compositions that explore British Culture with diversity as Richard did with Bi'itish composei$. Pushing furtber with storytelling theatre, op¢r4 poety as in his owrn productions of Mendelssohn's Midsummer NiJts t's Dream with the RSC. Building upon the CLS interactive and relaxed ¢on¢ert model to create immersive &t)d enriching experiences deepeDing our connection with audieD¢e9. Going fuither into the local cott)munities with events and Participation as we intend to do now in Hackney. ill a way that he did in Ettdelljon. other vèttueg lrt th¢ UK. Retaining the very special family feeling and culturelvalues of CLS going forward. ii. Relevane& It Is ¢asÈest to judge prog'ess during the by stakeholder.'- Mu8ieÉan8. Transition "artgse, eased by the fact that we wctc tran8forn)irJg cxi3ting musical activiti¢s and ski113 into our new journey - iticludinir our Musici8ns' involvement in the development workshop of The Exoplaoets aod other projects, exploring sponianeous mUSlG-m2king and theatr￿e&l storytelling. Buildints upon the skills developed through ourParti¢ipation practice. And by the end ofthe period. we have on fLle one of ourvery experienced tnusirians referring to this wo¥k as'it's the most tmwrtant thing I do {￿ a musiciatL)" A growing feeling within tbe Or¢hestra the Strategic implications at¢ ¢laTAfied. Cfity Of London S5nfonlA LlmitÈd Chain￿aN,$ Report foi- tlie year ended 31 March 202S Already thi5 year performances were up IOQ/o to 90. Over 46,000 people saw us play, which was an increase of 25°/0 on the pi'evioug year. And the number of hours of orchestral playing was up to I1,6?7 houts- up 4D/o on the previous year. On Participation, the numbtr of intei"actlOn5 j5 1.?22, which 15 a 31 /0 illcreast otL the previous year. We had 15 hired engagements. and, fInaJly. worked with 15 strdte. ic parttiers which w&8 a considerable increase on the past. A trend in the rEght direction at least- given the importance of an increasing level of actIv￿tY for our orchestral family. Finally. we have pushed successfully to help the journey for individuaI musicians from'emerging" to 'pTofessionai" integratino and profJlEng mid.C￿e2r musicians and providing networks as well as training and development opporttjnities. Examples include the placement of Royal Academy of Music Fellow5 on our fluhip projccts and developmellt session5 Wlth SiDfonia Smith SQu￿"e projects with YouE]o Sounds UK aimills to i'einove ba￿lerS for illusicians of all backgrouJds. Audiences. Building audiences always tskes time- especially w4)en opening up new IocY41 coinmunities in artas new to CLS. Apart from tbe foul and five star ci'iuc reviews, & typical piece of written audience feedbatk we ￿¢¢￿Ved wa5 "a magical ev¢nEnO with the City of London Sinfonia- familiar and new music brought to life witb storytelling, adding a whole new layer of magic" And'new layers" of audiences in llew comm[￿ltIeS such as Hackney. Clearly the gradual gr0￿h of Box Office numbets StLII reflect Work in progress, but there is clear growing alldience intrrest in ¢fOgs-dis¢iplinary collaborations integrating science, literature and theatre with cultLwal trends in interactive, infor5na] olassical experiences. P21tieipants￿#rttt¢rs. Hei'e the test d)is year has been ￿ add new exciting partrterships for the new type of events we are doingj Iwhile r¢taining our faithfiil loyal partner:hip" hieh we httvè hod both for playin-"muoiC we love- concerts), and our new Participation-led work. We created new hirinLT partnerships such as Ealing Choral Society and tlie Brighton Festival Chorus: international work with JobuFg Theaire- and Nonvich Theatt'e, Rtvere Ails, St Mary Ukraini)Ji School, and the Curious DiTe¢tive in exGltinu new project work. Alongside an inervasing collaboration with our Op¢r& Holland PaA<. and its Choiws,; St Paul's Cathedr&l- and other longstandi]]o partsjets in hospitals and mTniinities And finally, our new Community partner organisations such as Hackney Music, JWI, New Cil￿ZenS Gateway, and the New Generatkon Steel Orchestra in Hackney developing relationthips and audien¢¢s WAthin the ¢omrnunity to Fnake the Arts more accessible. DoDors #nd Grant Providers. This has been yet anothertou. h yea]. for those in the Arts where transition fllLallcing is sadly attd wtongly not valued and therefore not availabl¢. c￿erall donatiotis and gi'ants have decl&ned from 4?O/o of tuinover in (he previous year to )8/0 in this year. But still a very tnc0￿taging year with 5UPPOrt from funders su¢h as Arts Council England and Garfield Weston reflecting the way in which our pioneei'ing appro&¢h is meeting their ¢hangtd focussed objectives. And thos¢ of individual I￿￿e dollors to (Trw. major projetts_ DÈfferentiatioll. Differentiation is a T&ther different'litnjus test" io th¢ two jusi discu55cd above. It is raTe that anyone would back something purely because it is differentiated. The process in ollr case is the more conventional on¢ of creating soimething which is authenii¢. relevant and achievable we believe in. and thetj testin(T whether It Is trt]ly ditTerentiated-2nd i8 valucd by all the vaTiQUS Stakeholders we liave been considerino above as suth_ If differentiated alld valued foi. its differentiation, then the hard work rigk-taking to achieve these targets are ivorthwhile. And so thi.£ hA% httr.n A vpry major tegt diTrin8 thig fitstyè9r of the'mugic And... $ts2tegic plan. Feedback fthr hits be¢ll Positive from different participattts in the illdu$ily'.- Our OWJJ feedback. Differentiators include our pra¢tice. co-creation and'makints" of things wt then perfotm, lather than followEng set repertoire (the notes on a page). Also our cross-discipliDary ¢ollaborations,' the size of projects such as Exoplanets and"Rest" described in the report of the Tnlstees" the depth of oui. participatory projects in the health field compared io the breadth and vtslume of our owll participation work before 201 7, and that of our peers tod&y. Our interactive, informal cla5sicd experi¢n¢es in welcominu, participatory music experierjces whicli involve not just an attitude of passing fads, but a puryoseful building of expertise. And orchestras for the future combining ntw collcepts for an orch¢stral eveRt tt>gethei' with perfonning traditional. musi¢ we like to play" to appeal to audiencedstakeholders of the fvtvre. Consultant Sector Review. However. in addition to our own fjndings, I would like tt> share those of a ¢omrlliSSioned consultsnt sector review of 10 comparable cliatThber or¢hestras which has reveal¢d CLS'S differenti&ting factors focussed on by othert=. Pag¢ i City Of London Sinfonra lJÈmited Chairn)an's Report for the y￿r ended 31 M&rch 202) Making show5 U5iniy"re5ponsive impi'ovisation p12ttitÈs" tDgaging all its Jllusicia￿s as'makers" "stagecraff, and pi'ogrlllnming narrat￿v&stOryrel1i￿g. dramatLLrgy shows- often combined wrth ncw commissioned music., incorporating lived experien¢¢s,' two-way communication with audiences all guided by an"Artist's Coun¢il" who provide expertise in pertormance, Jnclusion and comn]unity engagemenl ￿till¥ as criticai friends ro ¢nsure fresh perspectives and Enipactful eommunity woi'k. We tontiTrue monitoring regularly to ty to understand whether these differentiations are appreciated and valued so tliat if certain areas are undeEperfotmin&. we are able to reallocate resources. shift to new messatsints or do whatever is necessary to iry to reach our north star objectives and strategy set out earlier in this i'eport. Our journey ￿S not a short or cary one. but it is itnportant tknat CLS is now beginning to be recO￿tr ised as a leading innovator in orchestral ptacticE dnd i5 attracting much gtcatci" s¢ctoi"_widc attcJ3tioii i¢sultiIig iii LLS briti¥ itivi(rJ Lu jvin iialiunal LuryveTraiivAJb a[ranS￿ by tb¢ A5sociauon of British Orcheskns and others. D. Financial Results for the YeAr Endino 31 Maroh 2025 After fulfilling the three qualitstive'litmus tests", tlie ulllm&(e on¢ for (he year was whetheT we could break even for the year (Lnd maintain our r¢8¢rv¢3 whilc invc3ting 2n"Music Artd... Overall I liappy to r¢poitthat wc ciidcd thc ycar witli a small sutplus of £26,838, leaving operating resenres al￿oSt unchanged from 2023124. Expanding on SONLe of th¢ significant fjnallcial dats sliown in the Consolid*ed Statement of Firtancial A￿]VitieS and the aG￿￿Pany1￿g notes-.~ Turnover incre&8ed by 6.80/fj to £1,228 ?21. Within this figwr, Charitsble Activities Income accounted for £885,OOQ, an in¢reas¢ of J1.2Q/o on 2023P4. . Fees 2nd Box Office in¢ome accounted for 72•/0 of turnover, and was up by £210.QOO. partly as a result of the higher level of activity surnmari5¢d in section C above, in this of ttansitiOIL reflecting & mix of old and new programmintr . Donations and (TTants, however, were down ?6/0 on the previous year, donations and grants both, coi]]cidentally, di)wn by the same percelltsge amounL And thereforetooether they account¢d for only ?8 /0 of the hiuhEr turnover versus 42010 in the previous y¢ar. Although a Greditable reS￿t in a very difficult fimdraisints cli]nat< the fEgures were hit In a tTansitiona y¢ar, by th¢ etlorinous changes in orgaois&tion- includinu the very sjnall fundraising teaFn-as well ￿ in progran]tlling, and overall redirection of the ¢ompany. Applications tD Trnsts and Foundalions were delayed until Board appiovai of "NIu5ic And... but 8tiI1220/o ofthe donors were new olles for us,. while on individual giving, cha￿ge1 in the team Itd to aps in stew2Tdship that have since been put right, but too lat¢ to affect this year. . Staff costs were held back with a 9D/o reduction at £3J7,000 helped by i shift fmtll fvlly employed to contracted hours in certain area5. Ot¢h¢stt81 TLK Relief has been estimated here at £145,000, la hAghly valued cotjtribution from Governinent to the Arts se¢tor. With increased co-cre&tion and WOAI on orioinal produ¢tions with parthers. it is likely that this fjgure should $18nifi¢atrtly incjrase in the future affording us agreater volume of own productions. The result of the above is an iR¢rea5e our unrestri¢ted fi￿d5 to £30J,583. Given the need to continue investing in mornentum and achieveTnent of our strategi¢ objectives. the Board has decided ro allocated £127,$00 of these foi such inv¢stments next year into a designated which still leaves J.5 months of operating costs in ieserve Ttpresenting [17/0 ufthe threc month Tlllrshold wl1l¢h we are keen to r¢spe¢t. Jn sumTnary, ow Music And... financial stsbility in its ftrstyear. ' Strate￿ has maintained E. Why Does Success Matter. and Where Do We Go From Here. Th¢ yCarbcg￿i. iji t￿LI]ess, widj aji Iuind un th¥ partof all those illvolved regardlng tmplementaiion challenges of'Thussc And.,. but certainty with a lot of question marks that needed to be resolved to justify the ellerJo alld investment ne¢essary for the five year joutney tOW￿dS our 60 birthday. As expected, the dtveloptoent of the llew strdtegy has requiTed fjnancial investment in order to buiId our brand, develop creative p2rtnei'ships, introduce our offer to new audience5 and participants and deepen engagement delivering meaningful impactfi'om day one. The encouragillg results setoutitt section C and D above should strengthen our stratertic positiom reinforce stakeholder confidence 2nd Euppnrt aiir fnr fiihirÈ. I￿VP.51￿ellt which we need to sustain the mo]nen￿rn of our pioneerino in this sector. And we are beginnints to d¢monstr&te the value of our artistic vision, our ¢otnmittnentto accessibility. and our role within developing orchestral tnusic and orchestras forthe fvture. Moving fonyard we need to do two things at this staac. (i) The first l5 to reassure all stakeholdei'3 both internal and extemal in tern]s of our financial plannintw to fi￿d the next four years of the plan. And {ii} we need to br02den faTrth the proof of concept in the creativity and leadership of this path to orchestral relevance for the future. Pugg 4 City Of London Sinfonia Limited Chairman's Report for the yegr ended 31 March 2025 Regardino (il fin8meial planning, we have taken ow end of year posiuon described above, and piojected forwards for two years from here to sliow we c8n work within breaLeven assumptions, and maintaining the level of reserves we currently have. The basis for sustatning viability ovei. this p￿.10d is built on what we feel ￿'t conserv&iive &8sumptions including Rew rules for approving fuluiE proj¢cts'.- R¢gardin8 inconie from eharitgtble activiti¥¥, tJu¥ base piDjectioJis are based on three main soui.ces of in¢otne- namely Opera Holl&nd Parl hired entsagetnents alld Participation. I4Te have historical evidence year by year for what has been achieved in these three are2s which have been quite Consistent thd re&%onably pr¢dictable over the yeaT5. These are the base Components of our projections. Regarding fLEndr#isino our predictions are based on highly competitive market assumptions. And therefore oll siilli1￿. r¢sults to tl)iB ycar to whitli Ive hopc to b¢ abl¢ to add additloiial fuiidiiig pivj¢¥i by yiujr¥l d5 drbii.ibrd bcluw. Overhe2d$ And stsffirng will be carefully monitored, and Set at level5 justified by the base platforni projections metltioned above. Blendin8 full time employ￿5 and part time consultantslsyb¢outra¢tois as required to give us the flexibility arnd e08t control that is needed here. Own produrtiOD5 whicli, by their very nature, risk losing money forthe organisation, will continue to be subjected to the di8ciplinè of htsving funding in ploce prior to ¢otnmitt￿n£ GxpcndituiK. Clearly in this first year we have been trying to establish a modified bnknd imtge for the Orche%tr4 and this needs to be worked on very systematically during the rest of the five ye&. plan. This, In i'equires conssderable investn)eni of time and txpenditure in communrextions to cre&te a mijor uplift in our capability here. Examples will include strell￿the￿ing olli. digital presence and content planning- closa. integi'ation of fundraising. Pwticipatiotl alld artistic messa.gÉng, and a improved clarity of putpoge ¥ro$8 internal and exterttal CtsrktsnvnitatiOn5. This will brino us rL Y￿Lety of b¢n¢fit3 in tcm13 of increasing the profile and therefoi'e our brand awareness, but also income fi'om tick¢t sales. donor etLgEoFement, alld attra¢tion of partners to deliver our strategic objectives. A full communication strateJts will be delivered in yeartwo of the plan. Regarding (ii) broadening proof of concep( we Iiave had very positive feedback on several fronts to encoura2e us to tnove fonvard. There is a core piogramme which needs to be a contributor to costs. and * more challen￿1ng programme artistically involved in creating the orchestra of the future. Th¢ flagship p14)jects such as Exoplanets 2nd Rest have elicited not only p&rtnerships and the desire to mak¢ these con]me1'ci￿ successes, but also provisiotl of laroer granis and gifts at a scale which we have not rtceived in the past for our norn]ai programming. To these we need to add th¢ events and satellite projeets to provide not only more work and income. but an enh￿ted brdnd r&sulting fmm this work. The main drivers of Creativity and illitsallves here ¢ontinue to be Alex W(M)d, the Creative DErector Leader of our Orchestra; Rowan Ruttei, our CEO. Fiona Lambe¢ ourDeputy CEO, especially fi'om hei. Participation antrle, and the Artists Council which provides input from its Inembers who blino multi-sector experietlte to our thinking. F. Other Nq#tters l. Going Concern. The Trustees Report and note I to the Accounts set out the reasolls for our Board's full confidence in our Going Concern statements. Includin poiijts made above.'- After the T￿Ste¢S deSI￿at10￿ of a production fijnd of £127.500 to invest in the artistic development of the ¢omp8Jy and ongoing partnetship5, CLS maintwns operating i'es¢rves above the three month threshold- n&nely 3.5 months of operating costs. Projections bave been done for the yegrt ending Mar¢h 2026 and March 2027 based on the consernative forecasting rules outlined in section E. these fore¢asts show year end movements in unrestri¢i¢d fund5 of £1,000 above and below break even. While the financial environment that the Oirhestra operates in ¢ontinues to remain challenLTing foi. all professional P¢rforyning Arts organisarions in the LK, City of Lortdo￿ Sinfonia has taken every wTrssible step to ensure that our brand and vision are differentiated, and seem to be rel¢vani and therefore as attr￿tIVe w funders as possible. We contÉnue to be attjle and invelltive in our fundraising strategy wtli 220/D of TMsts last yearbein(t new to our fL￿dIng porttolio, and bi'inging in new ways of attracting 9￿d 2naintainin(k individual dono[5 throu811 progi'amming, inforni&l ¢vents and enteilallllllent. P￿e3 City ofLondon S•￿t0￿1￿ Limited Choirnwmls Rtpvrt for the yearended 31 Mareh 2025 2. MottitotlllE of Ri51L A key eletryentof 8ovemance for us*the Hoardof Tn￿1￿$ 15 rcgulwly updaling and revie¥Yin8 Ihc Risk liegist¢r which idcntifirs risk in 8overn2lltt- fin8t*t- ¢JperatiOnS. gDd artistlE arw. Hishlighting some ol'thu Onihe finance sid< aBd isl ¢ommoD with most Alls organisitiofft$, our Box Oniee gnd comrnercial income havc inhtr¢nt dcgrce of uncerlwnty. Wr have an experienced Fthance & Operntions Commilte¢ Chaired by li'illiètn SpUT￿n. CLS Dq)uty Chwr. for many yeaTS. ThgTnsStees txamine man8gemenl accounts wilh fore¢asts and cashflow5 attached on iTnonthly basis. Safe8u8rd2ng isk¢y 8Lven the heavy prowrtion ofour work Participatson ¥]Jd wth the ¥uln¢rdble. Fion L￿bert's leng txperience hert ensures th&t DBS and simiTAr processes )re fvlly observed bi. aIl in%olved. Hcaith and S&fay is clo$¢ly ThonitOTe¢ 3nd reports are provided to Tn￿tts al ev¢ry BtsaTdThr¢iin8. Thr Risk RegistCT is t¢vi¢w¢d Separately by th¢ Sth?OT Mamgement Team. the Financ¢ & Op￿allonS ComminLY. and the Board, and wL818st r¢viowed by th¢ BooA in S¢ptrnLber2025. 3. Colltlvs5olls HeartfeltTh¥Dks. Ov¢tall I hop¢ T havt painl¢d apsthT¢of Iwd ￿01k by all and the lessons Ic8med as ive Creat¢ anew path thTOUBh the forest of orchestrdl relevance and SllSthinabiSity. Bvi we able lo port cxtremrly cncounging success duringthc first yc4rof-Music And... IErtn5 of significant arti51ic. social, organ15ational and rq)uiatioD8J gains. It is e4Tly days on journey. wt rt*lly to xpptal to *ttytslle wbo $byru 0￿r belief5 in thut wortby objtrtivt5 in a cr8zy ajkd difficultTvorld to joio us 00 this very ¢iritittg *Ld athievable journey plt•s* I do fE¢I thatth¢ organisalion today h&5 somethirlgto start slLOUtinE kbout in tertns of morn¢tKtwn, ol4rity ond cop&bility r¢4uir¢il to &livGrth¢ llGxt Pha￿ of thc ￿tr￿¢¥y. And IYG ))"1￿[ lo klp io show the world Ixow Arts generally 2nd music ijj partiw18r ran provide m¢aning* civilisaiion sense io pcopl¢ in today's world, mott spe¢ifLLxlly okpsolidatr CLS, w51tivn as oft¢ ofthc UK'S noss iTrnov8tiNe 2nd sociall!- responsive orchestr& And in tnaking thatstatrtneDtth8t i r¢ali5e justhow m8ny people CLS h&8 to be grntrfu] to for gettiTt8 ￿ started in this tra%" on our Journey. Flr511y our wonderfvl CEO Rowan Ruucrwho worked 50 hard 10 creait and s￿rt lexitine implemuyatiofj of thi5 Vi55a4 8nd FionaLambert who hugely help¢dtO fO.CT¢ate itthtough the posiiioning ot her P8nicip¥iion experI￿Ce in thc ccntrc of￿1 we do. But withoutthc inputofour Ext¢Uli%'tTearn. Dur tiithusiostic and gellerotLS Board. ourvery specixl. brilliaThLwaTh and engaging Musicians led by our￿al ltsdcr¥￿d Crvdtiic Dire¢tor ex￿draW0od-wIthOtsI all of thtsc. wt Ivould be irt a po$iixon w ty ntsw kn tsk¢ on to the nlxt s￿ge. M!. heartfelt you 811- I am Thote Ernieful th8D I can s&y. john Sing¢r Chair Page 6 City Of London Stnfonta Limited Report of the Trnstees foi- tlie year ended 31 MarelE 2025 The trustees {who are also directors of the company foi. the purposes of compally lawl p￿eThI their i'eport and the audited gi.oup and parent ¢Otnpany rjnanci￿ statcncnts of Ciiy of LA)ndon SinfoniaLimited for the year ended 31 M￿'(h 2025. The trustees GonfTh that the i'eport and the group and parent comp9￿Y fin$￿tial statements of the charity comply with the current statutory i'equirements, the requiretlleiit5 of the governing docllmet)l and the provisions of "A¢¢ountin(T and Reportin￿ by Charities.. Statement of Recommended Practice applEcable to charities preparing their atcounts iji accordance wth the Finalleial Reporting Standard applicable in the UK and Republic of ￿.¢I#lld (FRS 1021 (effectivc l Jwjuary 2019) (Charitie5 SORP (FRS 102)). RtfÈr¢nee and administrative information Company number 01692341 (England and Wale5) Registered charity number 286818 Board Ternko Iwanaga Joanna Livesey Patricia Millett Alan Mor. an {retired it) year) Mark. Redmall Daniel Sandelson Julian Schild John Singer (Chair) WÉlliam Spurgin Sarah Thun-Hohenstein Chief Executive Offi¢er Rowan Rutter Regi%thd office and prit)¢ipai office &ddresS l°Floor Radisson Court 219 Long Lane London SEI 4PB Independent auditors Anstey Bond LLP I Chartcrhouse Mews London ECIM 6BB Principal bankers Lloyds Bank plc 35 White¢hapel High Street LoDdoTr El 7PII Strllctur4 governanee 2nd managemeNt City of London Sinfonia LEmited was incotporated on 19 January 1983 and is a Gharitable company limited by tsuar&lltee. It has no 3harc capital aiid is aovcriittl by & ili¢JiJUliULdulli atjd artlLl¢b of a55uciation. In the eveni of a winoing up, the member's liability is limited to £5. Past members who had resi(Tned in the twelve months pr¢¢edints the winding up are also required to contribute up to £5 each for debts in¢uiTed whilst they were Jnembers. The members have no entitlejnent Éo surplus assets on a winding up- any such assets will be given or transferred to some other ch￿l￿ble institution or institirtions with s1j￿ilar Charitsble objects. The Board of Trustees is responsible for selecting and recruiting sllit&ble tiustees to oKi¢e at th¢ Awiual General Meeting. There Es no maximum nymber of tNstees that miy be elected to the board. Trustees may servt for a period of nine ye8r$, subj¢¢i to Fe-election every. three years. After nine years of service, trustees tuay reinain on tIie board subj¢¢t to an annua] re- ele¢tioJ) provided more than 750/0 of the trustees support their rc-election. There is no limit impos¢d on trustees. New t￿Stee$ are inducted tknugh an intensive briefin(p by the Chief Executive and ¥e given ajob description, the Inost recent audited aceounts and the curTentyEar budget. Pd¥¢ 7 City Of Lo]Jdon SiTLfonia Limited Report of the Trustees ror the year ended 3] M#rth 2025 Poli¢y decTrsii)ns tre tnade by the fijll board of tiustees. with subcojnmittees for Finance and Operations, and Development and CommunicatiotL, With boih bodies reporting to the full board on a quarterly basis. The day-to-day decisions are made by the Chief Executive 2nd the administs*ion staff. The Chief Execlltive's remuneration is set by the board ot"tnsstees and does tLOt include ally bonus or pei'fonnance related remuoeration. The Cli&ef Exccutiv¢ then sets the pay for the reinainder of the administration. with annual illci'e￿s foi. all staff weed by thc board of trustees. Our People •ta Rowan Rutt¢r- Chief Executive Fiona Lambert- Dtputy CEO and Direcror of P&rti¢ipation Steve ThD]nas-A5sociate Produ¢¢t Beka Bee- Developmentmanager Lance Smlth- Finance Manager Fi Johnstone- Produ¢¢r {PrOJ￿ts and Participatiiin) Cheryl DaTrics- Participation Produ¢er {Maternity Cover) Gabrie16 Neuditschko- Market￿g Audi¢nc¢s Manager Ellie Swithinbank- Head of Orchestnl Operations and Dtvelopnient Ajiiid Oiri- ASSiblutiL Prv(IuLgr IPrvj¢Gts and Concens) Beatrice Tinsl¢y- Projects and Ad]ninistration Assistsnt Orchestral Legders Prineipals Alexandra Wood- leader Vao&kn)cy"- prirt¢ip*l 2nd violin Fiona Bonds- principal viola Will SGhofield- prin¢ipai cello Joely Koos- co.principa] cello Lynd& Houghton- pnntipal double b￿$ Karen JDnes- pr1￿C1p￿[ flute Dan BatE5- principal oboe Kaiherinc Spencer- principai clarinet Ursula Leyea￿Y- principal bas500n St6phen Stirling- principal horn Nichol&s B¢tts- PTincipal trumpet Dan Jenkins- princEpal trombone Paul Latt]bert-prin¢ipal bass trombone Jeremy Comes- principal timpani Art15ts Council PhillipaAtLders Nicola T. Chang Ragh8d Haddad Natb2n Holder Anahi Ravagnani Sita Thomas Matthew Kofi Waldren Page 8 City Of London SinfTrnia Limited Rep(brt of the Trllstees for the year ended 31 March 2025 Objectives alld activitles .lerrifEcperformoncesfrom City ofLondon SinfonEa Across a ivide range ofslyl2s ￿Kder￿S ihgy gave ttceounis ofihe music thal ieully Ifi red li offihepagé. {Plllnet Htsgrll, Ikinbgr 2024) "Ii s nol offte￿ thal a classEcal Miisi¢ COfrFcei't oJter$ io £akeyou beyond ihE slr(Jlosphere (Jtsd bttck, bui ihi$ inlrigi¥ing evening fron7 thg Ciry ofLondon Sl￿f0}IlLI didprécisÉly iJ301141iih ¢ovsiderable elan (The AFIS Desk, Oclob8r 20?4J In the fInancial year 2024-25 CLS delivered the first year of its new fjve-year strategy Mi&sicAnd... which will see the oi'ganisation through tts its 60 anniversary in 20)l. We worked with fifteett strategic partners to deliver ayear of diverse and differentiated outyut. Over the course of the vear. we delivered 90 public perfor￿anceS. increasing output from the previou% year hy (Jver lllQ/h. tr) audiences totslling 46,000+ an increase of 25°/0, including 250 fi'¢e rickets foi. You￿￿ and N￿lnerable people. Including our reliearsals and cre&tive develop￿Lent S¢Ssion& our musicians played over 11,000 hours and aiso had over 1,300 interactions with partiCiP2nts in hospitsls, hospitsi Schools, care homes, and community centres. The orche5ts3 continues to be led by Creative Director and fijst violin Alexandr& Wood. supported by our world-class memb¢r playeJE. CLS musicians coounued to grow as individual artists not only through our award-willning partieipation work, but also throllgh the second year of our Participation Development & Legacy Award. ' Enlighiening, JantaFlicully engagi￿g. apjdtti momenls IratLYceKdental. lihougkn il wos ¢omp/elgly amozing. (4udieF7cefeedback From Ptsle to Pole, J5 Oelober 2024, Smi¢h Sgtiare Hall) Music AAd...str&tegy Out strategy, Mu$it and..., builds on the belief that orchestral music can do more.. reach more people. tell larger and more complex stories. and create deeper and more lasting social impact. This strategic diredion integratg5 high-quality or¢hE5trai perfonnance with long-terni Creative d6velopmenL meaningful Community partnerships, interdisciplinary collabor&tion. City of London Sinfoni& ICLSI stands tt a pivot￿ t¥Lornent in its history. With audience behaviours shifting, funding models ¢hanging. and the wider classical music Imdscap¢ evolving, CLS 15 responding with a boll furure-fo¢used approach. Our Music and... strategy posiiions the organisation as a pioneerl￿tr force in 21si-century oichestral P￿Ctice-adaptIVc, inclusive 2thd socially eng￿ed. A￿dienCeS, artists alld fundErs ￿e changing t(x)-. Audiences in¢￿T￿g1Y Seek meaning. connection. parti¢ipaiion and emotlDlla] resonance. Artists are looking for deeper eng￿eMent, authonhip alld opportunities for creativity beyond the ttaditiona] concert model. Funder5 are prioritising inclusion, commimity i￿PaC( cult[￿1 relevan¢e and long-tenn value. Our response is a new model that fitlly integrates creation, co-production and performance. Missloll, Vision Values Our Values. tooether with the mission and vision guide every aspect of CLS'S communication, perfomian¢es, projects, alld interactions wilh audi¢nG¢5, funders, and partners Our Vision A music sector that is welcoming alld inclusive. A county wheTe ]nusic is accessible to and ￿teSsed by all. A world where usic is a vehicle for equity and connectivity among *LII people Our Missio Through music and the stories it evokes, our mission is to explore *nd connect with our collective hLllnan responsibility- to ¢a¢h other- and the woild we shar¢. We embrace this tnission with opcnness, cllriosity and care, ¢ultivating M￿nincIfUl Ilaborations auiong our rnusicians. audiences alld pthners. Everyone is welcome here. P&ge Y City Of Lo￿d￿n Sxnfonia Limited Report of tlie Trustees for the year ended 31 March 2025 Our Values Joyous: At the heart of everything we do is joy- itt tht power of rnusic. in the collective ¢xperiEnce of making and listening to musi¢ and in the gifi that music gives u$ all to live our lives a little brighter. a little IKghter. & little nore delighted. Conne¢tive- We believe that music is the conne¢tive tissue that binds ideas and people. stories and science, facts and fictions. Live music holds a spac¢ where all people, no matter their origins, can com¢ (ogether and be connected. Courageous: We dare to ima4ine and shape new worlds, answeriJ)g big questions through tnusi¢, embrncing the unexpected 2nd pushing creative boundaries. We arnplify new voices and ideas, balallcing artistic ambition with fEnanciaI resportsibi]ity to ensure LLS ranains sUSt21nable, adaptable, and thnving tor generation5 to come. Coll2bor2tive: We believe that by working together we ¢teate ￿Ore meaningful, a￿d more Cour￿eoUS work_ We bring illdivÉduals, and or8anisations togdher foi eXtr￿rdinary creativity and memorable moments of music. WuU￿r￿- W¥ are deeply vurioub about the world we live In, and Ehose we share It wlTh. We carry wryth us a sense of wond¢r and are inspired by the beauiifvl, the unfamiliar and are made stronger through our desire to setk out stories aud discover. AchRevemeDts Opera Holland Park Partllership ?024 saw the ?OU' anniversary of the partnership b¢tween City of London Sinfonia and Opera Holland Pajk. Our 20 Opera Holland Park Se2son featllred.. Tasca, condu¢ted by MatthewKofE Waidrtn, with acclaimed South African soprnio. Amanda Echalaz, in the title role The Barber ofseville a double bill featuriniy Tholf-Ferrari's JISegr8to di and Leoncavallo's PaRliacci Acit and Galalea, Opera Holland Park's first production of a Handel operL directed by Louise Bakker The Yeomen ofihe Guard, in a brand.new production directed by John Savoumin and conducted by David Eaton Patterns of N2*ure- Contert Series Our own-promoted work in autujnn 2024 centred on Pa¢terns ofNaÈure, a three-eDDcert series at Srnith Square Hall. Ea¢h concert ¢ombined exceptional musical perfonnance with expert guest qpeakers. irt line with nur lnno.tpmi xim tA pIAr.p storytelling and interdisciplinary thinking at the heart of the concert experience. shi7npneringlnterfwe￿ee featured musEc by Johll Adams and Bela Bart6K (l￿¢¢*d by Alexandra Wood, with eng￿E￿illg insights into Jnathetnatical patterning by Prof. James Sparks (University of Oxford). Pole to Pole explored cloud fvnnatiot)s through teTh musi¢al works from Marais to ¢ontemporary Gornposc￿, illuminat¢d by scientific commentary and original imagery frotn Dr Simon Clark. Song ofihe farth in¢luded a personal introduction from compogerDr Helena Anahita-wilson: conllectillg Mahler's work to themes of naturE and human fragility. Kenneth Woods conducted an intimate 16-player urangement by lain Farrin¢ton. ftaturing soloists Yvonne HnwArd qAtriyx A late pro8rammittg eh2ngÈ introduced 2 neur work by Zhenyan Li. leading to a further con)mission for the 2025126 seastsn. A ForJA of Exile- Collxboydtion with the LfjDdon Review of Books We returned to th¢ Quc¢n Elizabcth IIall in MaTGh for di¢ 5ccond iiistaliiiuii vfvui Vur of Wonderlurtd, part of Th8 WopyderluNdGu¥dén co-production with partners in Pettrborough. Directed by early-years thtttte 5pecia]ist Sarah Argent, the production combined WesteTn cla%5i¢al mu51cians, South Asian percllssionists. and a global majority actor to ¢reat¢ an imtne¥siv< musicaIly rich world for pre-verbal children. D￿￿lOpmEn1 aAd ErJJ.ly Sharing Early creative sharinos in nurseries and fatllily settillgs in London and Peterborough offered invaluable"in-the-momeni- lllSighrs inio how very yout]g children responded to souftd, movement and storytellin These sessions shaped the show's final fortn and helped perforniers develop live devising skills specific to trarly-y¢ars audienG¢5. Touv2￿g0t￿Reach The p￿￿UctiOn toured London. Peterborou2h. and the South West in May-june 2024. perfnrmintr in thestre4 And e.nmmTinity v6iiues, including underserved areas where free tickets were mad¢ available. Audience reactions were overwhelmingly positive. with comments ernphasising the show's quality, imaginative sound Worl￿ and its impact on younu children. Crilicdl andPeer Feedbaek F¢edba¢k highlights included.. "A bÈ￿ell￿aTk/or qual£ry Eo¥11￿gW0Tkf0r veiyyoung chlldren. LUU, Landmark"I'heatre'lrust "The mosl ipJcrethblÉproj6ct... real visEoi a*ds7¥bsÉonce. - Musicia 'li ￿PandEd sou￿dWOrJdS aNdminds." Musi¢1& "Mespi2grisingfor a(aults andlidg. Poelic. -Nursery carer Afy baby hodsuch agDodtime..- pure joy." Audience member "Awe-inspirEK£... word ofmouth Spreads￿ 4uickly. Head tsf Idea 8knre, Tnwe.r NATnI￿¢ Due to the stre￿gth of audience and partner response, a second tour took Pla￿ in Spring 2025, including venues Postponed fron) th¢ first run. AdditionAI Artistte Partnerships and Engagements 1Seyond our tlagship progratnme5, the season included.. New hire partnerships with E21iJg Choral Soctety and Brighton Festival Chorus. The Continuation of four summer orchestral Masses at St Paul's Cathedral. Incre2S6d collabor&tion with the Opera Holland Park Chorus outside the opera season. An invitation to perform 8t St Paul's Cathedral as of a special service marking the 80th anniversary of IE Day on 8 May 2025. Ongolng iniernaEional work with Jot]atinesbllrg'lhe*res has be¢n established with wod( planned for 2026 and 2027. 's￿peTbPj¢VjS aklda bi'illianl evening. llie Cwordprofgssor broughijzisi ihe right Ievelofclapity 10 ihe lopi¢. Thankyo for a rewarding &ven2nLr The_4knms was a highligkL ' AiidieFJceleedback ShiMMÈi'ing Inlerfere*¢e. J7SgJplember ?n24. ,gnpiih.fqvnrp. HnPI) "Alugical. In¢lwive. Reltsyed" (4udieK¢efeedback The IYondgrluNd Gai'den) PaueIl City Of London Sinfonia Limited Report of the Ti'ustees for th¢ y￿r ended 31 March 202S Participation 8nd Community We continued to Str￿￿￿then and bi￿aden oui. participation, health and wcll6cin& and conununity engagement work t11rou￿tr out 20?4125. This progi'amme rtm21r15 central to our vision and demonstrates our commitment io inclusive. socEally entsaged music-makin Continuation of Core Health & M'ellbeino Pro(prallulle We continued our core program]ne of work in health and ¢8r¢ s¢ttin¥g. iRYestitLg in both delivery 2nd communication of impact. Sound Young Minds: Our flagship programme supporting chiloren atLd youllg petsple in psychiatric hospitsl s¢hools conlinued to grow. Sessions provided Creative outlets for expression, wellb¢ing, and ¢onfiden¢e-building for partictpants fa¢ing complex challenges. Hospital Partnerships: Our fflusicians and lead artists continued to facilitate respoD5ive workshops al Evelitk&Hosps121 School and UCLH, following the interests of yollng people and offering moments ofjoy ￿)d escape during long-term hospital stay5. RnThm MiJ*rt-. niir project siipporting care home regidentg With demetttsÈ M￿l￿t￿l￿ed its gtroTh8 ijnpact. To capture and share this work, CLS and Jewtsh Care co-commissioned filmmaker Claudia Lee to create a do¢umentary demonstrating how music supports Jnemory, collne¢tion and wellbeing. Communicating Imp#et: We str6nrthtned advocacy for this strand of work by commissioning a new impa¢t report (Sound Yotm£ MindFI and a short fi]m (Roorn to Room MusE¢), now shared a¢ross our channels and contributing to increased sector visibility. Strengthening Participatioll Practice Acros5 the Org2ni$ation Thi5 year marked significantprowss in embedding participation at the heart of our organi5ation and artistic identity- The Director of Parti¢ip8tioll role expanded to Deputy CEQ. ensuring participatory values and our"Musi¢ and... vision inforni strategi¢ de¢isiDn~making. The Participation Produ¢er n)le broadened to Producer.. Parti¢ipatioR & Projects, linking community wotk more closely with attistie inttiatives such as FhÉ Etoplonets and The Wondérland Gayden. We continued to develop our artistic workforce by Involv￿g ttLore CLS musici￿S I￿ participatory projects, building skills, confidence and organisational re5ilieD¢¢. Th¢s¢ develop￿entS reflect our commitment to evolving wh&t it means to be an orchestra wlthin soci¢ty, with participation infonning perfomian¢¢, ¢reative ptzcticc. and fvture plannirne. Projects with Young People Our work with children an(1 young people expaoded across schoo15, early-y¢ars setting5. and commullity groups_ St Mary's UkrniDi*n School.. CLS musicians collaborated the school Choir and eomposerlchoir leader Jessie m￿yVIl D&virs lu L￿-￿rit¢ r¥hcaT5e new songs, fosierfng creailviry alld cul￿ra1 conn¢cuon. Wood]an￿% Second8ry School: Weekly inclusive Open Orchestra Sessions and creative music workshops gav¢ student5 f]rsthand experien¢¢ of Iivc music-making, en&bling them to enhance skills and explore new modes of expression. The LA)ng Shop Sound Machine Projert: Children frotn six Suffolk schools worked with CLS mu5irians to co-create heritage-inspired, place-based compositions. The project culminated in a fiRal perfoTrn2nce at Snape Maltings, celebrating local history through collaborntive creativity. Wonderland Garden I Wonderland: ()ur È&Ay-yÈ5Jrq DfACtice. de.Vp.1np￿ in*n A t¢a¢4 inwJ¢riou3 hcoring 103J or dama8¢. CLS Jtoff bdhcrr bc3tpr8clico £ prowiding protection for these noise levds. and thue prolcctions are available al every CLS p¢rformHn¢e, including Stale of the art'20)U5tlC 5hield$' that rtduce noi8e levels for indiYidu31 musiciang. Th¢ RTrsk R¢gi5ter 1$ regularly rcviewed by the sellior rnanagementteam, the FinancewO Operatiorty Conjrnittee and th¢ Bts￿d, aftd M'&81oSt reviewedby the B03rd in Sepiernber2025. Trn$ttts' rE5ponsibiliti The tru51¢e5. who ar¢ also the ¢tirt¢tor5 of the¢4mipany f0rthepU￿D5¢s of ￿t￿Pa])Y jaw, ar¢ rwD5ibl¢ foi preparin8 the Trustees. R¢port and th¢ fIt￿nti#l slalments in ac￿NI￿ncew￿th applicobl¢law and Uniltd Kingdatn AttountiThg Stsndards (United Kiogdom Gencrally Acccpted A¢counttn2 Prdctice). Company llw requ￿ th¢ ttusicrt to prtpaye financial tat¢m¢ntJ foT saGh ffDanGid yw. Uiidrt ili& law thc trustr5 Q]USt ooi appwv¢ th¢ 5¢aiwll¢nts un1¢55 lh￿ a satisfied that thty give atrJ¢and fair vicw of thestate of affairs of thc £h3Titable c4)mpany and of thE incoTDing resouTCe5 and applicationof restsur¢e4 irL¢lyding th¢ iucorneand expenditUf4 tyf the Gharitrbl¢ coJnpaDy forthat p￿10d. Irlp￿pariDsth¢$t financial statcrnent4 the trust￿ arc Twuirrd to.. * seltct suitsble accountinArA)licies and then apply thertt wmistn is ￿ateriallY inconsisteJ]t with the financi￿ statements or our knowledge obtaÈned in the audit or otherwise 8ppt4r8 to be materially misstated. If we identifv such materiai inconsistencies or apparent rnateri￿ misstatements. we are required to detemiine whether this gaves rise to a maierial misstatement in the finarjcial statements themselves. If, based on the work we h&ve perforjned, we conclude that there is a Enateri misstatement of this other infoiTraLion, we are required to report that fact. We have nothintr to report ID this I'egard. Matters OD which we are required to report by exception We have nothing to report in respect of the following matters wliere tbe ch￿'it1¢S (Acco￿nts and Reports) Regulations 2008 r¢quii'E5 US to report to you if, in our opinion.. the infom)ation given in the Report of the Trust¢es is in¢onsi5tent in any materia] respect with th¢ financi￿ 5taterll¢nts- or the Charitable eompany Ilas not kept adequate accounting reeords: or the financial s￿￿Ments are not in agreement ￿￿th thc &c¢ounting records and retsrns. or w¢ have notreceived all the inforn]ation and ¢xplanation5 we i'equire for our audit. Paile l j Report of the IndtPCTJdent Auditors to the Trustees of City Of London Sinfonia Limited Responsibilities of trustees As explained mol'e fiilly in the Statcjncnt of Trustees, Responsibilities, dit trustees Iwho are also the dir¢¢tors of the chRJ'itable company for the purposes of compally law} are responsible for tlie preparation of the financial statements and for beintt satisfied that they gAve a true and fair view, and for such intern&1 contsL)l as the tsvstees determine is necessary to enable the prep2t2tion of fLuancial statements thar are free from material misstatement, whether due to fraud or em)r. In preparing the financial statements. tlie Irustees are responsible for assessingthe charittble company's ability to continue as a going CODcem. dlsclosintr ￿ applicable, matters related to (Tointr concern and using the going con¢¢m basis of a¢wuntints unless tht knwstees tithcr intend to liquidate the tharitable co￿panY or to Cease operations. OT have no realistic alternative but to do so. Our respoll$ibilitie5 for the audit of the financial stattmetlts We haN'e bten appointed as &llditors under Section 144 of th¢ Charities A¢t 2011 and report in accordance with the Act alld relevatti regulations made or having effe¢t th¢reunder. OUJ ubjwliv¢s understanding of the legal and regulatory frpjnework applicable t(> the charity and the industry in which it ¢p¢rat¢#. #nd con:'dered th& ri..Ic Of by the coinpany thLt w¢r¢ ¢ontrary to applicablc laws art rcgulatioJ)s. ij]Gludin- fraud. We desi. ned audit procedures io respond to th¢ risk recognE5iniT that th¢ i'isk or not detecting * Inaterial misststement due to fraud is bigherth2n the risk of not detectin(T onc resulting fro￿ error. as fraud may involve deliberate concealme1)t by, for eXa￿pIe forgery or intentional mEsrepresentations, or thmuoJ] ctsllusion. Wp. fnrni<*è.d Laws and resularionswhich Could give ri4etn mareri21 n)i4StsfeEllentin the financial st&temenL, includingg but not limited to, the Chtirities Act ?011. Our tests included LITreeing the fjnanciaj statement disclosures to underlying supporting doeumentation enquirIes with rnawement. Ther¢ are inherent lifftitations in the audii pro¢edure5 described above, arjd the fvrther removed non- CO￿P112￿ce with Isws and regulations is from the events pnd transactions reflected in the financial srat¢ments, the less likely we would become aware of it. Wc di(f not idelltify any key audit matters relation to ￿￿t£U1aritse5, including fraud. As in all our audits. we also addressed the risk of management (>verride of intemal Controls, Encludrng teStinu journals and evaluatin(p wheth¢r there was evidence of bias by the trustees thzt repteseDred a risk of material mi55tatetnent due to fraud. A further de5CriPtion of our responsibilities foi" the audit ofthe fJll2n¢i81 statemei]ts is located on the Financial Reporting Council's website atwww.frc.org.uklauditorsre5ponsibilrti¢s. This description fom15 part of ourReportof the Indepelldent AudEtors. Usè of our report This report is made solely to the charitable ¢omp&ny'5 trustees, as a body, in accordance with Part 4 of the Chariti¢s IA¢eounts and Reports) Retsulations 2008. Our audit work has been undertaken so th2t we might state to the chatEtable company's trustees those matters we are required to state to th¢in ill an alldityrs, report and for other puryost. To the Ilcst extent permitted b). law, we do llot accept or assume i'esponsibility to thyone other than the Charitable ¢ompany and the tharitable company's Intste¢s as a body, for our auditwoik, for this repoo oi. for the opÉnions we have foiTred. Anstcy ndT.I.P Elioible to a¢t as &ri audilor in tenns of Section 1212 of the COMp￿leS Act 2Q06 I Chartel'house Mews London ECIM 6BB Date.. 31st January. 2026 Page 18 City Of London SinfoTtTa LiTnited Cun501idated Statement of Financial Activities for the year ended 31 March 2025 AS restated 2024 Total fi￿d5 2025 Total funds Unrestricted fuDds Resti'icted ds Notes INCOME AND ENDOWMENfs FROM Donations atld leuaGie5 ?93,572 47.250 340.822 460,751 Charitable Activities Fees and box offlce revenue 884,833 884,833 674,621 Other trading activities knvestment in¢ome 2.566 2,566 2,124 Tota 1.180971 28.221 1 149.059 EXPENDITURE ON Rdisiiig fuiids 30,518 iO.516 67,479 Charitablt getivities Dired costs Support costs 951,837 292.728 71,iOO 1,023,137 292,728 791,428 244.135 Totsl 1,275,083 1.346.38J 1 103042 NET INCOmE,'(ExfLNDITL￿[) befo]"¢ ta 194,] 12) (24.OiO) 1116.1621 46,017 Corporation Credit 145. 145 000 141345 NET INCOMEJ(IXPENDJTURE) 50,888 124.050) 26.838 187,)6? RECONCILIATION OF FUNDS Total filnds brought fonvard 252,694 24,050 276.744 89,382 TOTAL FIINDS f.AllR VF.n FnRWARD 303,5g3 203 583 j76.744 The statement of financial activities includes all uains and losses recognised ID th¢ period. All income 2nd expenditure derives from continuing activities. The notes form part of these financial staternents Page 19 city or i.Dnilon SinfonlA Llmitcd Consolidated IIBlllThco Sheet J I ,M*rth 2025 A% ￿stated 2U25 Tolal funds 2Q2,1 UllreStriLl¢d runds Re51ricied runds rund5 Nol( FIXED ASSETS In&￿gIble assd$ T7Jngible MSSLIS 13 14 18.687 3.798 1 ¥.6Y7 3.798 28.437 5.162 CURRErqr ASSETS Debiors Cash at bank 22,485 22.485 13.599 16 471103 44.628 472,103 44.628 259.085 95.226 CREDITORS 516.731 516.731 354Jll Ailjuuiits r.d1lil￿ i]u¢ wlthlnoneyear 17 (235,633) (235,633) NET CURRETrrr ASSETSIILtABILITIESI TOTAL A￿8F.T$ T.V.SS eURRENr LtABILfTIES 281.098 243.145 303.583 303.583 276.744 NET ASSETS 303.583 303.583 276.744 FUNDS Unrestyt¢ted funds Rcstricted fiJud$ J9 ?51694 24.050 TOTAL FUNDS 303.583 276.744 The ¢htiritabl¢ ￿$￿partY 15 ¢ntirled to exunption from audit undu S¢ctioi) 477 of the C4rnpanie5 Act 2006 for the year ended 31 Mfjrch 2025. Th¢ rntmbers have not d¢posiLed nOticcTr puxsuallt to S¢ction 476 vf the CollJwi¢s Act 2006 rtqUTring an audit of these fjnancial starements. The1w$t￿ arknowledB¢their Ttsponsibililits for (a) th$uring that the ch8rithlE company keep5 8CCnUtiting record5 thai compfv with Seciion5 386 *)d 387 of the Cornp8ntes Act2006 and wEp￿lI￿g finaDthal statements which give a tru¢ ￿T￿ fatrview of th¢ state ofaffairy of th¢ c]w?tsblc tOrnPÈny As t th¢ end of each (Jnanci￿ year and of its surylu5 or deficit for e%ch financi&l yezr in a¢¢ordanc¢ with the requirements of Sections 394 and 395 and which ott￿1¥1$¢ comply with thr requsrements of the Cofftpanits Aci 2006 r¢J*ing to fmanciai ststements. so faT a8 appliL*l¢ lo th¢ charitable COmp￿v. Ib} Th¢sc finautial statemtnts have becrt audited under th¢ r¢quiretn2nts ofSe¢tion 145 ofihe Ch￿illES ct2011. The fin￿¢[81 statements were approved by the Btsard of TTllste￿ and authDrised for i58U¢M....................._...................... aDdw ned on its behalfby-. SEte The notc5 forni part of thes¢ fpnancial $tat¢m¢nts P)8¢ 20 -11 2024 .Is rc.%ldlLd IlnrtslriL1cd lund.E Rc5lric￿'d FIIED ASSETS 18.6%7 3.798 8.687 3.798 T¥Dgible &SSL*5 Invcsirntnts 28.4J7 5,161 CURRETrif ASSETS 22,486 22.480 33.6txi DLbiors Cash at b8nL- 16 472.103 44.628 472.lQ3 44.628 3?8.782 95.226 516.73) CREDITORS 516.731 424.008 AIlluuiiLY fulling wlthlrt Ofte ye4r 17 1235.6351 (235ffj351 1180.8641 NET CURREKr AssgTSIILL4BILTTIES} 281.097 281.097 243.144 TOTAL ASSETS LESS CURREwr LIABILrriES 303.583 303,583 276.744 NET ASSETS 303.583 303J83 276.744 FUNDS 19 Unrtsiricted funds Restricted furtds 303.583 252.694 24.050 TOTAL FUNDS 303.583 The charitable tompony i5 entitled ta ext￿P￿0￿ from audit U[￿rr Se￿i0n 477 of the Companies A¢t 2006 for the ye cnded 31 Nlar¢h 202.5. The rn¢mbus hav¢ not deptrsitcd notick pursuant to S¢ction 476 of tht Q>mp¥nits ALI 2006 ￿q￿l￿ng an audil Cplthese rjnancilli 5￿c￿ents. Thetrustee5 acknowled8e thttirT¢SP)nsibilities foT 12) ensuring that ihe Ch￿l￿ble comparry kncps accounting rewrd$ cojnplv iviih S¢ciions 386 aTrd 387 of the Companitt Act 2006 and preparing fJ08nciaf S￿eMentS which give atNe fair view of ihe ststt of aifairs of the dwithbl¢ companv at the end of ¢a¢h fInancial year and of its surplus or defirit for oth financial yrdr in at¢ordance with th rcquirwents of Seciions 394 artd 395 2nd which oihern'i5e comply with ihc requircment5 of ihe Comp￿11¢5 Aci 2006 re￿atiftg ta finaJ)GSdl Statements, so faras applicable io the clwritablc romp2nv. Ib) Tlirbr flliancidl 5taTemrn15 have bten audiiea under th¢ ttquireTrents ol"Seciion 145 (pf th¢ CILaTities Art20 Thefin¥ncial st*cments were approv¢d by the B08rdofTn]stees aftd4uthoris¢d for Issue on......_........... and weK si on ils behs Tn￿tte The tyoles part ofthe5e financial ststern¢nts P8ge21 City Of London Sinfonia Limit¢d Consolidgted Cash Flow Statement for the year ended 31 March 2025 As iestated ?024 2025 Notes Lash floivs fr the i"calisatioii of Tli¢ Exop1￿]¢ts- a Jicw coii)iiiissioii fol tlje sia¥e LIJ SryiriIibci 2024. The Give Fundi'aising for core individuals forthe artisti¢ prOgrall￿e delivery in 2024D5. Net moyetnent ii) funds. included in the above ￿e as follows.. Incoming resoutces Resources xpended Movement in funds Unrestricted funds General fund Foyle foundatiotL Own productions 1,178,471 20.000 127.500 (1,255,08?1 (20,0001 176,612) 127.500 1,325.971 (1 ?75,08Jl 50,888 Restricted funds Participation projects Exoplanets The Bi¥ Give 17.250 30,000 {17.2501 {30,000) 24 050) (24,050 47.250 (71,JOO 24,050 TOTAL FIJNDS 1373,221 1,346.J83 eontlnlled.._ Clty Of London Sinfonia Limited Notes to the Financt&l Ststtmtnts- eontiTrued for the )'ear ended 31 Farth 2025 18. MOVEMENT IN FUNDS- ¢oNtinued Comp2r&tives for movernent in funds Net oveinent in fimds At At 1.4.23 As regtated Generaj fund Kids Space designated fund Foyle Found*ion CFowdfvndinrF 21,184 1,875 231,510 11,875) 252,694 7.088 30,147 43,237 ??9,549 {4i2i7} 252,694 Trading subsidkary Group fi￿dS 179.312 252,694 Restrieted funds Parti¢ipaiion projects Musician aw2rd Webgit Exoplanets The Big Give 8,000 500 7.500 {8,0001 15001 {75001 24,050 24,050 TOTAL FUNDS 187,362 276.744 Page 33 ntsnued... City Of London Sinfoni& Limited Note5 to the Finanttil Si#teE]]ellts- rfjutinued for the ywAI' tndwj 31 March 2025 18. MOVEMENT JN FUNDS- continued Comparative net movement in thnds. included in the above are as follows-. Incoming resounes Resources expended Moverllent in ￿ndS Unresiridcd funds General fund Kids Space deslgnartd filnd Faylt Foundation Crowdfunding 1910.511 {1,022,2381 188.27J 11.¥75) {7.088 1210,511 11,Oil,201) 179,310 Rrb(IiLL¢d fulldy Participation projects MusiGian awai'd Website Exoplanets Thc Dis Giv¢ ABO Sirens Discount ticket s¢hem¢ 51,843 {59.84Jl (500) (7.500) Is,000) 1500) 17,500) 24,050 2.500 24,050 {9,5001 11 5001 171,843 TOTAL FUNDS 1.290 404 I IOJ 0441 187360 A ¢ULTenty&qr 12 months and PriDr year 12 months ¢ombin¢d position is as follows.. Net movement in fimds At 31.3.25 At 1.4.23 Unrestricted funds General fund Kids Space desigrtated fulld Foyle Foundatton Ci'owdfunding nwn productiort* 64,421 1.875 111.66? {1,8751 176,083 7,088 17,088) 1•7.500 127.500 7i.384 230,199 303,583 Restrieted fi]nds PAffir.ip%tihn projects Musician award Website Exoplanets The Big Give g,000 500 7.500 {8.0001 (7,5001 TOTAL FUNDS 214 199 303 583 Page 34 continued..- City Of LoA)doTr Siufonia Limited NortES to tbe Pinallei21 Statements - contin￿e￿ for the year ended 31 Mareh 2025 18. MOVEMENT IN FUNDS- continued A current year 12 months and prioryear 12 months combined net movement in funds, included in the above are as follows.. Jncoming resources RE50UTces expended Movement in funds Unrtstrieted fund8 O¥ii¢Liil lutid Kids Space designated fund Foyle Foulldation Crowdfunding Own productions 2,i88,983 (2,277J2LI (1,8751 (20,000) (7,088) 111.titi2 (1,8751 20,000 17,0881 127,500 127 500 2,536,48" 12,J06,2841 230,199 Restricted funds Parti¢ipation projects Musician award Wcb$it¢ Exoplanets The Big Give ABO Sirens Discot]nt ticket scheme 69,093 {77,09J) {500) 17.iOO) 130,0001 {24,0501 12.500} .5001 {s,0001 1500) {7,5001 30,000 24,05Q 2,500 127,143 {143.143 TOTAL FUNDS 2,663.626 2.449 427) 214 199 19. RELATED PARTY DISCLOSURES The followints are considered to b¢ the charity's key management personnel.. The Board of Trnsttes Chief Executive The totsl amount of employee belleflts received by key management Persol￿e1 during the year. including Employer's National Insurance alld pension was £105.721 {2024.. £136,072). Tliere were no tnEStees' remuneratiotL other bellefits nor reimbursed expenses paid during the current or prior period. In a8wgat4 trust¢¢ donations were £131,739 {2024.. L44.4091 includjng gifi aid. Paue 35