The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Review of Activities and Future Developments
The results of the year’s operation are set out in the financial statements. The net movement in funds for the year amounted to £13,631 compared to £60,601 in 2024. The retained surplus on 31 August 2025 amounted to £116,893. 2024 - £103,262. The main reason for this was the reduction in the amount of donations and grants received. The Trustees expect a decrease in the surplus over the next financial year due to increased costs of rehearsal space and concert venue. Donations have decreased from £201,576 to £175,771. The Trustees are grateful for the support of all donors including the Garfield Weston Foundation (£10,000) and will maintain their fundraising activities.
In May, the orchestra returned to Smith Square Hall to celebrate Europe Day and on this occasion were joined by dancers from the Royal Ballet School. In October, the orchestra took part in another successful side-by-side rehearsal day with the English National Ballet Philharmonic and expects this to become a yearly event. The Trustees continue to develop relationships with Conservatoires and Universities throughout the United Kingdom.
Risk Management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company and are satisfied that systems are in place to mitigate the Company's exposure to major risks.Trustees' responsibilities Company and charity law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company of that period. In preparing those financial statements the Trustees have:
i.Selected suitable accounting policies and applied them consistently.
ii.Made judgments and estimates that are reasonable and prudent.
iii.Stated whether applicable accounting standards have been followed, subject to any material departures disclosedand explained in the financial statements.
iv.Prepared the financial statements on a going concern basis.
The Trustees have overall responsibility for ensuring that the charitable company has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities. This report was approved by the trustees and signed on its behalf.