REGISTERED COMPANY NUMBER: 06571691 (England and Wales)

REGISTERED CHARITY NUMBER: 1126782

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2025

for

ACOUK

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

6

Independent Examiner's Report

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Notes to the Financial Statements

11

to

16

TRUSTEES

R J Evans

A M Frangopoulos (appointed 1.9.2025)

A J Harbert

R A Hossack

H G C Humphreys (appointed 1.9.2025)

H L Liddell

A D Low (appointed 1.9.2025)

D J Walsh

REGISTERED OFFICE

6th Floor

One London Wall

London

EC2Y 5EB

REGISTERED COMPANY NUMBER

06571691 (England and Wales)

REGISTERED CHARITY NUMBER

1126782

INDEPENDENT EXAMINER

O'Sullivan Hughes Limited

185 Wellsway

Keynsham

Bristol

BS31 1JJ

The trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)" (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and activities

The object, for which the charity was established, as stated in the Memorandum and Articles Association, is:

The promotion of the education of the public in the arts of music and opera, particularly, by supporting the charitable purposes of the Australian Chamber Orchestra PTY Limited, a non-profit incorporated company limited by shares having an endorsement under sub division 50-B of the Australian Income Tax Assessment Act 1997 (CTH)("ITAA") as an Income Tax exempt charitable entity and endorsement as a deductible gift recipient under sub-division 30-BA of the ITA and such other exclusively charitable purposes as are recognised in the Law of England and Wales.

We achieve our objectives by raising funds to support the UK Tours of the Australian Chamber Orchestra.

Public Benefit Statement

In shaping our objectives for the year and planning our activities, the Trustees have considered the charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the charity's activities.

Grantmaking Policy

ACOUK Board can approve a charitable disbursement to the Australian Chamber Orchestra (ACO) once the following conditions have been met to the satisfaction of the ACOUK Board:

1. The Managing Director of ACO has made a request in writing to the Trustees of ACOUK for the allocation of a specified amount or range of funds from ACOUK.

2. Included in the request are:

a. a high-level budget outlining either:

- (if the request is for reimbursement of the cost to the ACO of completed activities in the UK for which the ACO has not previously sought reimbursement) the activities for which reimbursement is sought; and

- (if the request is for coverage of the cost to the ACO of the proposed activities in the UK for which the ACO has not previously sought coverage) the activities for which coverage is sought; and

b. a short narrative outlining how the proposed allocation of funds meet the charitable objectives of ACOUK (as outlined in the ACOUK constitution)

3. The ACOUK Board will review and consider ACO's request, taking into consideration ACOUK's Reserves Policy. It is at the discretion of the ACOUK Trustees, having regard to the purposes of the ACOUK and the ACOUK's Reserves Policy, to agree to the request.

4. Before any requested allocation can be made, the request must be approved by a majority of ACOUK Trustees at a meeting of Trustees.

5. ACOUK Trustees will revert with a response in writing to ACO within 10 business days of the request being approved by the ACOUK Board and advise the quantum of any allocation and when approved funds will be paid to ACO.

6. The timing of when the ACOUK Board will meet, review any requests received, and make any allocations, is at the discretion of the ACOUK Board.

Our Volunteers

The only volunteers during the year ended 31st December 2025 were the Trustees.

ACHIEVEMENTS AND PERFORMANCE

In 2025, ACOUK continued its fundraising efforts in support of the Orchestra's UK activities, ahead of a planned return for concerts and outreach in 2028.

The ACO presented a sold-out concert at the Barbican on 21 March 2025 which garnered a five-star review in The Guardian. On the previous evening, the Australian High Commissioner to the United Kingdom hosted a reception at Australia House for 110 invited guests to celebrate the Orchestra's 50th birthday. Led by Artistic Director Richard Tognetti, the ACO performed at the event with special guest artist Joseph Tawadros.

In September 2025, J & A Beare, the Queen's Award-winning fine string instrument company, invited ACO Artistic Director Richard Tognetti and ACO Principal Violin Satu Vänskä to perform at the opening of the company's new London studio. The event was attended by 50 London-based supporters and friends of ACOUK.

ACOUK held four board meetings during the year, in January, March, September and November.

In 2025 Mr Andrew Low, Mr Huw Humphreys and Mr Angelos Frangopoulos were appointed to the Board, while Ms Sonya Leydecker resigned from the Board.

FINANCIAL REVIEW

Financial review

The Statement of Financial Activities showed a net deficit of £83,104 (2024 surplus - £19,800) for the year and reserves stand at £23,691 (2024 - £106,795).

Principal funding sources

Principal funding is currently donations.

Investment powers and policy

Under the Memorandum and Articles of Association, the charitable company has the power to invest in any way the trustees wish. The policy of the trustees is to invest any surplus funds in bank deposit.

Reserves policy

ACOUK will hold reserves to ensure the ACOUK is a going concern and has the ability to make grants to the Australian Chamber Orchestra Pty Ltd to support the Australia Chamber Orchestra's activities in the UK where the Australian Chamber Orchestra has demonstrated that these activities have or will promote the education of the public in the arts of music or opera. Grants to the Australian Chamber Orchestra Pty Ltd will only be made by and at the discretion of the Board of ACOUK.

The charity's reserves at the end of the year stood at £23,691 (2024 - £106,795).

FUTURE PLANS

In 2026, ACOUK will continue to raise funds to support the future activities of ACO. In 2028, the ACO is planning to return for concerts in Edinburgh.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

ACOUK is registered as a company limited by guarantee and not having share capital. Its operations are governed by its Memorandum and Articles of Assoication (M&AA).

The company was incorporated on 21 April 2008 and registered as a charity on 18 November 2008. The charity registration number is 1126782 and the company registration number is 06571691.

Recruitment and appointment of new trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated by ACOUK. The directors of the organisation are also the charity trustees for the purposes of charity law.

The Board of Trustees have power to appoint additional trustees as it considers fit to do so. The trustees have no beneficial interest in the company other than as members. The trustees are also the directors of the company.

Organisational structure

The charity is organised so that the trustees meet regularly to manage its affairs. The trustees are members from a variety of backgrounds with relevant professional experience.

Trustees induction and training

The ACOUK Board has the ultimate responsibility for ensuring that the Directors of ACOUK have understanding and competency in the current and emerging issues facing ACOUK and can work together as a team. To ensure that a newly appointed Director becomes an effective contributor to the ACOUK Board as quickly as possible, the ACOUK Board undertakes the following induction process for that Director.

Introduction to Key Personnel

Individual meeting with the ACOUK Chair to clarify:

- the role of the Board

- the expectations of members of the Board; and

- other strategic issues.

Meeting with the ACO Managing Director, Chief Operating Officer and Director of Philanthropy and Partnerships. Meeting with the other members of the ACOUK Board.

Induction kit

1. ACOUK Constitution

2. ACOUK Policies

3. Board papers for the three most recent meetings

4. Most recent Annual Report

5. Current ACO strategic plan

Preparation of the induction kit is the responsibility of the ACO Chief Operating Officer.

ACOUK requires the newly appointed Director to provide to the ACO and to the ACOUK:

- a written statement of the member's contact details and personal information (including full name, date and place of birth, nationality, address, email address and particulars of other directorships) for the purposes of records held by Companies House and the Charity Commission; and

- a declaration and details of any personal interests.

Related parties

The charitable company has relationships with related parties and other charities and organisations with which it operates in pursuit of its charitable objectives.

Risk management

The trustees have identified the major risks to which the charity is exposed and believe that the systems in place are adequate to mitigate those risks.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of ACOUK for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustee's report was approved by the Board of Trustees on 23 October 2026 and signed on its behalf by:

R J Evans - Trustee

Independent examiner's report to the trustees of ACOUK ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Andrew Hughes FCA

O'Sullivan Hughes Limited

185 Wellsway

Keynsham

Bristol

BS31 1JJ

23 October 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

4

9,911

21,000

EXPENDITURE ON

Raising funds

290

-

Charitable activities

5

Governance costs

2,700

1,200

Charitable distribution

90,025

-

Total

93,015

1,200

NET INCOME/(EXPENDITURE)

(83,104

)

19,800

RECONCILIATION OF FUNDS

Total funds brought forward

106,795

86,995

TOTAL FUNDS CARRIED FORWARD

23,691

106,795

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Cash at bank

26,391

107,995

CREDITORS

Amounts falling due within one year

9

(2,700

)

(1,200

)

NET CURRENT ASSETS

23,691

106,795

TOTAL ASSETS LESS CURRENT LIABILITIES

23,691

106,795

NET ASSETS

23,691

106,795

FUNDS

10

Unrestricted funds

23,691

106,795

TOTAL FUNDS

23,691

106,795

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 October 2026 and were signed on its behalf by:

R J Evans - Trustee

1.	CHARITY INFORMATION

ACOUK is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, One London Wall, London. EC2Y 5EB.

2.	ACCOUNTING POLICIES

Accounting convention

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

The charitable company's financial statements shows a net deficit of £83,104 (2024 surplus - £19,800) and free reserves of £23,691 (2024 - £106,795).

Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under gift aid or deeds of covenant is recognised at the time of the donation.

Legacies entitlement is taken as the earlier of the date on which either: the charitable company is aware that the probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charitable company that the distribution is made, or when a distribution is received from the estate. No legacies were received during the year.

Donated professional services and donated facilities are recognised as income when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charitable company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the charitable company is not recognised in the main body of the financial accounts but detail is contained in the trustees report.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charitable company which is the amount the charitable company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. No such services were received during the year.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. Expenditure on charitable activities include expenditure associated with the main objectives of the charitable company and include both direct costs and their associated support costs.

Support costs are those functions that assist the work of the charitable company but do not directly undertake charitable activities. Support costs include back office costs and governance costs which support the charitable company's activities. These costs have been allocated to expenditure on charitable activities.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled.

Taxation

The charitable company is exempt from corporation tax on its charitable activities.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

3.	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

9,911

21,000

5.	CHARITABLE ACTIVITIES COSTS

Grant

Support

funding of

costs (see

activities

note 6)

Totals

£

£

£

Governance costs

-

2,700

2,700

Charitable distribution

90,025

-

90,025

90,025

2,700

92,725

6.	SUPPORT COSTS

Governanc

costs

£

Governance costs

2,700

Support costs, included in the above, are as follows:

2025

2024

Governance

Total

costs

activities

£

£

Independent examiner's fees

2,700

1,200

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

8.	STAFF COSTS

The charitable company did not have any employees during the year (2024 - nil).

The key management personnel of the charitable company comprise of the trustees. None of the trustees were employed or paid fees by the charitable company during the year (2024 - nil).

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accruals and deferred income

2,700

1,200

10.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

106,795

(83,104

)

23,691

TOTAL FUNDS

106,795

(83,104

)

23,691

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

9,911

(93,015

)

(83,104

)

TOTAL FUNDS

9,911

(93,015

)

(83,104

)

Comparatives for movement in funds

Net

movement

At

At 1.1.24

in funds

31.12.24

£

£

£

Unrestricted funds

General fund

86,995

19,800

106,795

TOTAL FUNDS

86,995

19,800

106,795

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

21,000

(1,200

)

19,800

TOTAL FUNDS

21,000

(1,200

)

19,800

11.	RELATED PARTY TRANSACTIONS

A charitable distribution of £90,000 was made to Australian Chamber Orchestra during the year.

12.	LIABILITY OF MEMBERS

The charity is constituted as a company limited by guarantee and does not have a share capital divided by shares.