Kiri

State company of limited liability KREMERATA BALTICA Annual Report for the year 2024  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Contents General information on the company 3 Principles of the accounting 4 Evaluation methods 5 Profit and loss account for 2024 6 Balance on 31 December 2024 7 Report on the changes in own capital for 47 965 10 Report on the cash flow for 2024 11 Notes to the financial reports 12 The Managerial Report 13 2  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. General information on the company 1. The company is registered in the Register of Enterprises on 4 November 2004 with a registration number 40003487546. The address of the company is 8-4 Riharda Vāgnera St., Riga LV-1050. 2. According to the statutes the basic activities of the company are: 1) to promote and support the development of the concert life of the Baltic States and its integration into the international processes, to popularise the art of the Baltic composers in the world; 2) to organise concerts both in the Baltic States and abroad. 3. The name of the bank: VALSTS KASE, SWEDBANK 4. The founder of the company: The Ministry of Culture of the Republic of Latvia, Reg. No. 90000042963 5. The state authorised agent: Dace Vilsone 6. The average number of staff members at the company: 29. 7. Independent Auditor of VSIA KREMERATA BALTICA – SIA ARM K Revidents Auditors 3  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Accounting principles The financial statement of the company has been elaborated in accordance with the Law on Accounting, Law on Annual Reports of the Companies and generally accepted accounting principles of the Republic of Latvia. The annual statement has been elaborated following the principle of operating company by that assuming that the company will continue its work. The accounting of the company is carried out according to the accumulation principle, ie. the principle according to which the income and expenses are entered into accounting books taking into account the time of their origin and not the date of actual receipt or payment of the sum. The income and expenses related to the year of account are entered not taking into account the date of payment or receipt of the bill. The accounting is carried out with the help of a computer programme Tilde Jumis. The synthetic accounting register is a Ledger. According to the statutes the income surplus over the expenses is counted in the reserve capital. 4  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Evaluation methods All fixed assets are originally evaluated at their purchase value. In the balance sheet the fixed assets are entered at their purchase price, counting off the wear. The wear is calculated according to a linear method once a quarter during the actual use of the fixed assets, by using such rates set by the management: % Other fixed assets 35 Other inventory 20 5  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Profit and loss account for the year 2024 EUR 1. Net turnover 398 457 2. Production expenses of the sold goods 0 3. Gross profit or loss 398 457 4. Concert performance costs -1 036 232 5. Administration expenses -197 982 6. Other income 836 833 7. Other expenses -61 8. Profit or loss before the taxes 1 015 9. The income tax of the company for the year of account -130 10. The result of activities for the year of account 885 - Director I. Zemzare 6  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. BALANCE I Assets Row End of Beginning of code 2024 2024 A B 1 2 1. LONG-TERM INVESTMENTS I. Intangible investments Expenses of research and company development 11110 Concessions, patents, licences, trademarks and similar rights 11120 Other intangible investments 11130 Intangible value of the company 11140 Advanced payments on intangible investments 11150 TOTAL FOR I 11100 II. Fixed assets Land, buildings, constructions and perennial plantations 11210 Equipment and machinery 11220 Other fixed assets and inventory 11230 8 336 13943 Establishment of fixed assets and expenses of unfinished construction works 11240 Long-term investments in hired fixed assets 11250 Advance for base asset 11260 TOTAL FOR II 11200 8 336 13943 III. Long-term financial investments Share in the capital of related companies 11310 Loans to related companies 11320 Share in the capital of affiliated companies 11330 Loans to affiliated companies 11340 Other securities and investments 11350 Other loans 11360 Own shares 11370 TOTAL FOR III 11300 TOTAL FOR PART 1 11000 8 336 13943 2. CURRENT ASSETS I. Stocks Raw materials, basic materials and auxiliary materials 12110 Unfinished production 12120 Finished production and commodities for sale 12130 1476 1483 Unfinished orders 12140 Advanced payments on commodities 12150 Work animals and productive animals 12160 TOTAL FOR I 12100 1476 1483 II. Receivables Receivables of purchasers and customers 12210 Receivables of related companies 12220 Receivables of buyers 12230 32 902 2 730 Other receivables 12240 26 631 16 263 Accrued revenue 12250 0 24 200 Expenses for next periods 12270 1275 1 921 TOTAL FOR II 12100 60 808 45 114 III. Securities and shares in capitals Shares in capitals of related companies 12310 Own shares 12320 Other securities and shares in capitals 12330 TOTAL FOR III 12300 IV. Money (total) 12400 68 839 24 460 Including the sum in the cash register 12410 From the row 12410: foreign currencies 12411 TOTAL FOR PART 2 12000 131 123 71 057 BALANCE 10000 139 459 85 000 II Liabilities Row End of Beginning of code 2024 2024 A B 1 2 1. OWN CAPITAL I. Share capital (equity) 21100 47 965 47 965 21100 II. Retained earnings Retained earnings of previous years 21510 2 474 2182 Retained earnings of the year of account 21520 885 810 TOTAL FOR PART 1 21000 51 324 50 957 2. ACCRUALS Accruals for pensions and other such expenses 22100 Accruals for expected taxes 22200 Other accruals 22300 TOTAL FOR PART 2 22000 3. PAYABLES I Long-term payables Loans that can be turned into securities 23010 Bonds 23020 Loans from no financial institutions 23030 Including delayed loans 23031 Other loans 23040 Advanced payments of purchasers 23050 Debts to suppliers and contractors 23060 Due bills 23070 Debts to related companies 23080 Debts to affiliated companies 23090 Taxes and social security payments 23100 Other payables 23110 Income of next periods 23120 Dividends of the year of account 23130 Unpaid dividends of previous years 23140 II. Short-term payables Bonds 23150 Loans that can be turned into securities 23160 Loans from no financial institutions 23170 Including delayed loans 23171 Other loans 23180 Advanced payments of purchasers 23190 Debts to suppliers and contractors 23200 Due bills 23210 Debts to related companies 23220 Debts to affiliated companies 23230 Taxes and social security payments 23240 38 854 26 513 Other payables 23250 49 281 7530 Income of next periods 23260 Dividends of the year of account 23270 Unpaid dividends of previous years 23280 TOTAL FOR PART 3 23000 88 135 34 043 BALANCE 20000 139 459 85 000 Director I.Zemzare 9  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Report on the changes in own capital for 2024 Share capital Undistributed profit Total EUR EUR EUR 47 965 3 359 51 324 10  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Report on the cash flow for 2024 Cash flow from business operations Profit 885 • Increase of debts payable 1 245 290 • Increase of debts receivable 917 770 Cash flow from financial operations 1 244 405 Increase of share capital 68 839 11  Annual Report for the year 2024 of the State company KREMERATA BALTICA Ltd. Notes to the financial reports for 2024 1 Account in the Bank of Latvia and Swedbank for 68 839 2 .Payables - tax 38 865 - annual report for the year 2024 editions 1996 - other 29 998 12  Public LCC KREMERATA BALTICA (Reg. Cert. No. 40003487546) Management Report Governing body report The state LLC KREMERAT BALTICA is re-registered on November 4, 2004. Type of the main activity: performing art. Structural capital of the Chamber Orchestra – in the amount of 100% – 47 965 EUR is invested by the state, in the person of the Ministry of Culture of the Republic of Latvia. Public procurement and its implementation: Kremerata Baltica has given 36 concerts in accordance with Financing agreement No Nr.2.5.- 11-10 from 17.01. 2024 6 concerts were given in Regions of Latvia: Cēsis, Rēzekne,Ventspils, Jūrmala There has been prepared 15 new programs in 2024, including spcial performances 1. Gidons Krēmers, Georgijs Osokins and Kremerata Baltica. Wels and Italy 2. Baltic composers and Seasons. Lisboa 3. Program for Dubai opera with Sergei Krylov 4. Baku program with Daniil Bulajev. 5. Program The Spring of Ukrain. Uropean festival in Stockholm with Gidon Krēmer. 6. Tartu Glassperlenspiel program Maestros piruettes. Gidons Krēmers and Kremerata Baltica; 7. Stathis Karapanos and Kremerata Baltica in Rēzekne Concert hall GORS. 8. Three programs for KREMERATA BALTICA festival in Dzintari. 9. Program for Kronberg Academy festival 10. NewYears Eve program. Kremerata Lithuanika. Kremerata Baltica participated in International festivals: 1.Glasperlenspiel festivan in Tartu, Estonia 2.Kremerata Baltica festival in Paliesiaus, Lithuania 3. Kronberg Academy festival, Germany 4. Kremerata VBaltica festival un Dzintari, Latvia 5. Europeand spring festival in Stockholm, Sweden Kremerata Baltica has performed 24 concerts abroad in 2024: Germany, Lithuania, , Estonia, Sweden, Azerbaijan, United Arab Emirates, Taiwan, China, South Corea. Composers played in Kremerata Baltica programs in 2024: Pēteris Vasks, Astor Piacolla, Frederik Chopin, Meczilav Veinberg, Franz Šchubert, Viktoria Poleva, Antonio Vivaldi, Peter Vahi, Filip Glass, Ludvig van Beethoven, Arvo Part, Raminta Šerkšņyte, Jēkabs Jančevskis, Johan Sebestian Bach, Krists Auznieks, Alfred Schnittke, Gražina Bacēviča, Jiri Trtk. The Baltic composers, whose compositions have been played in 10 concert programs of the Chamber Orchestra – 1. Another Winterreise. Georgijs Osokins. Nach dem Fluss; 2.19.07. Raminta Šerkšnyte. It too shall pass; 3. 19.07. Ramintav Šerkšnyte. It too shall pass, Jŗkabs Jančevskis Lignum; 4. 7.06 Ukrain Freedom festival. Kristaps Pētersons. Chaconna; 5.10.06. Ukrain Freedom festival galā program. Latvian and Ukrainean music 6.15.09.Dzintari. Krists Auznieks. Concert. 7.16.09. Dzintari. Georgs Pelēcis. Pages of biography for violin and chamber orchestra 8. 3.10. Prāga Jēkabs Jančevskis;Lignum; 9. 4.10.Brno. Jēkabs Jančevskis Lignum, Georgs Pelēcis Concertino bianco; 10. Lithuanika. New Year Eve program of Lithuanian music. Three full time CD have been recorded in 2024: 2024. gadā veikti divi pilna laika CD ieraksti: 1.Viktora Kalabis autordisks. 2. Stathis Karapanos and Kremerata Baltica video disks. 3.Two Chopins piano concertos with Georgijs Osokins for Deutche Gramophone Financial development: Finances of 2024 are formed (EUR): 1. The master budget funding of the Ministry of Culture of the Republic of Latvia – 761 833 2. Funding of the Ministry of Culture of Estonia - 25 000 3. Funding of the Ministry of Culture of Lithuania - 50 000 4. Funding of collaboration partners 398 457 Future projects: The concerts estimated in 2025: * Active preparation to the second Kremerata Baltica Orchetra festival in Lithuania * The 21th festival of Kremerata Baltica in Dzintari, Jurmala. * Koncerts in Latvia, Lithuania, Estonia. * Concert tours in Europe and North America* Concerts in Austria, Germany, Italy, Estonia, Lithuania, Turkey, Finland etc. Member of the Board Ingrida Zemzare