Chariry Registration No.. 1159191 RACHMANINOFF4 MLI%IC ACADEMY TRU%I'EE%' RL-,poiI"r ANI) UNAUDITk4.D ACCOUNTS PI,:IIIOD I,;NI)LD 15 MAY 2024
RACHMANINOFF MUSIC ACADEMY LEGAL AND ADMINISTRATIVE INFORMATION Trustees: Dr Andtca Buraschi Janella AjeigybL Mrs F.IL'na Broun Nichc)Ixs WalkL'r Chiirity number: 115()1()I l)rincipil address: 27 C.liftc)ti I Idl T.()nd()n NWII OQL
RACHMANINOFF MUSIC ACADEMY CONfENTS Page Trustccs, rcpnrt Statement of financial acuvlties 13alance shect Notes to thc Acc()unt Indcpendent cxaminL'r'4 report 8_()
Rachmaninoff Music AcademyTrustees' Report Year Ended 15 M8y 2024 The trustees present their report forthe year ended 15 May 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice ' Accounting and Reporting by Charities issued in March 2005. The structure, governance and management of the charity was established be a charitable trust deed on 13 November 2014, The trustees who served during the period were: Andrea Buraschi Dr Janella Ajeigbe Elena Broun MBAIPhDIPS Nicholas Walker DIPILRAM The trustees have assessed the major risks to which the charity is exposed and are satisfied that there are systems are in place to mitigate exposure to the major risks. Oblectlves and activlties The charity's objectives are the provision of music education to children and young adults; provision of performing opportunities for the pupils of the RMA and other aspiringyoung musicians associated with the RMA. arranging classical music concerts for the benefit of local communities; providing grants to those who could not otherwise afford music education. The trustees have paid due regard to guidance issued by the Charity Commission when decidingwhat activities the charity should undertake. Activities undertaken duringthe year comprise a programme of study for students which is based on the Russian and Eastern European system and includes two instrumental lessons perweek, solfeggio, harmony, composition. chamber music and choraltraining. The teaching programmes also incorporate the ABRSM and Trinity Graded syllabuses. RMA also organised classical music concerts at various London
concertvenues forwhich all RMA pupils and other children under the age of 16 had free entry- Emmanuel Church, West Hampstead, Rosslyn Hill Chapel, UCS Great Hall and the Wigmore Hall. AI RMA pupils are given regular opportunities to perform in public. Those who demonstrate exceptional dedication to music are given further opportunities to perform alongside professional musicians, to play with orchestras and to appear at prestigious concertvenues. Our pupils regularly perform in charity concerts and other cultural events. The highlight of each term is an End ofTerm Concert at one of London's concert venues. Achlevements and performance RMA pupils continued achieving excellent results both in instrumental studies and in other disciplines, achieving Distinction marks in public examinations, including Grades exams- both instrumental and theoretical and gaining music scholarships at top London academic and music schools. RMA pupils appeared with Camerata Tchaikovsky one of the top professional chamber orchestras in the UK and performed in concerts both in the UK and abroad- in Bois CoLombes, France and Istanbul, Turkey. The highlight of the year was the concert in December 2014 at the Wigmore Hall which is one of the most prestigious London's concert halls. That concert included the choral and instrumental performances with some 30 children taking part in it. Flnanclal revlew Total incoming resources for the period amounted to £421, 787 and the total resources expended amounted to £414,962. This resulted in an overall increase to the charity's funds of £6.825. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. On behalf of the board of trustees: Elena Broun 5 March 2025
RaLhm'aninoff Music Academy Statement of Financial Activities Year Ended IS May 2024 2024 2023 IncomAng resources from generated funds Incoming rL'sourccs from charitable activities 421,787 403.579 Total incomlng rcsoutce8 Resources expended Charitable activitAe8 421,787 403,57() TL'aching C.oncert8 (34.3,029) (3U,8L)5) (3.37,42.3) (38,802) Total chatitable expenditure (373.924) (376,225) Cy()VL'rnance costs Support costb aii(I dLptL'ciation (18,500) (22,538) (10,750) (24,044) Total resources e%pendcd Net movement in funds 414,C)62 411,019 (),825 (7,440) Fund bcilances at 15 Miy 202? Fund balances at 15 M,ay 2023 914 7,73() 914
Rachmaninoff Music Academy Balance lyheet As at 15 May 2024 2024 2023 Fixed assets TInble absets 4,166 8,280 Current a88ets Cash xt bank and in hand 44,601 29,960 Creditors.. amuunts f%lling due Wil'n onL' y¢ar (41,0?8) (37.32C)) NLt currl nt liabilities Total aSSLtb l¢ss currL'nt liabltieS 7,366 )14 7,7.31) Unrcstricted funds 7,739 914 I"he accuuiits wcre approvcd by the Lrubtee% on 5 Nqirch 2fl?5 E Braun Trustee
Rachmaninoff Music Academy Notes to the accounis Year Ended 15 May 2024 l Accounting policies Ba818 of preparation 'h¢ aLcounis have b¥ei) prepared undeT the histQriLal cosr ci)nvenuon. Thc Accuunrts have heen prep2£ red in aLLurdA¥)ie with AppbLiilile accounting sraJidard8. tht statemcnr of recommended prALtiie ",IcLounting and Reporung bj. LhdntlLS issued in Nlarch 2(K)5 xnd ChArities ..Icr ?01 I Tangible fixed agset8 and depreciation T.Angil)Ic fixcd asseis ¢ir¢ sry4red at ¢0sr Icss dLpreciauon. D¢preLIAnon is prrJvid¢d di rAfLb LalculatLd to write off rhe cost less estiryLited residuAI valu¢ ol each asser over its ¢XPtiicd useful [¢ 85 (ollow5.' I lusical illstrumrnts l(W/o Straight ]ine 2 Incomirtg te8ource8 from charitable activitie8 Fees received and iickcr SAIC 4?1,787 3 Total re80urce$ expended ChArit3ble activitieg Teaching ,4Ltiviucs undertaken dite¢tly upport Costs 343,U?() 18,494 .l()1.4.5.1 337,4?3 19,930 357,353 Concert .%uppvrt Lo$r$ 311.141)5 311.8112 Govctrtance co.%ts 18,500 10,750 4 Support C08te Teaching Concerts Toral 'Third party services Conccrt cxpcnsc8 Depr¢LiAtiun 18,424 I ti,4?4 311,IllJ5 4,114 30.895 30, S Tru$teeo Nort¢ of thc tTU$tees received Any remuneratiun during the lear. 6 Employee# Th¢t¢ were no cmployccs durin% th¢ y¢xr 7 T(4ngible fixed a88et8 CoBt ,4t I S NIAY 2023 Additions At 15 May 2024 41.142 41.142 Depreciaiion ,4t 15 Nlay 2023 ChArge far the period ,4t 15 20?4 32,862 4,114 36.976 Net book volue ,Ir 1.5 IIA), 90?4 .4t 15 Nlay 2023 4.166 ,280
(HARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Rachmaninoff Music Academy On accounts for the year ended 15 May 2024 Charity no (If any) 1159191 Set out on pages I report to the trustees on my examination of the accounts of the above charity {'the Trust") for the year ended 1510512023. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent The charity's gross income exceeded £250,000 and l am qualified to examiner's ststement undertake the examination by being a qualified member of the Association of Chartered Certified Accountants. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements oncerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. Responsibilities and basis of report Slgned: Date: Name: Jane Elizabeth Spencer-Davis Relevant professional qualification(s) or body BA FCCA CTA Oct 2018 IER
(If any): Address: 4-6 Peterborough Road Harrow HA12BQ Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Glve here brief detsils of any items that the examlner wlshes to disclose. IER Oct 2018