## Rachmanino) Music Academy ## Trustees’ Report ## **Year Ended 15 May 2025** The trustees present their report for the year ended 15 May 2025. 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. ## Structure, Governance and Management The charity was established by a charitable trust deed dated 13 November 2014. The trustees who served during the period were: - Dr Andrea Buraschi (resigned 23 September 2024) - Janella Ajeigbe - Elena Broun MBA/PhD/PS - Nicholas Walker Dip/LRAM The trustees have reassessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to these risks. ## Objectives and Activities The charity’s objectives are: - to provide music education to children and young adults; - to provide performing opportunities for pupils of the Rachmaninoff Music Academy (RMA) and other aspiring young musicians associated with the Academy; - to arrange classical music concerts for the benefit of local communities; - to provide grants to individuals who could not otherwise afford music education. The trustees have paid due regard to the guidance issued by the Charity Commission for England and Wales when deciding what activities the charity should undertake. Activities undertaken during the year comprised a programme of study for students based on the Russian and Eastern European music education system. This includes two instrumental lessons per week, solfeggio, harmony, composition, chamber music and choral training. The teaching programmes also incorporate the graded syllabuses of Associated Board of the Royal Schools of Music and Trinity College London. RMA also organised classical music concerts at various London venues, for which all RMA pupils and other children under the age of 16 were granted free entry. Venues included: - Emmanuel Church West Hampstead - Rosslyn Hill Chapel - UCS Great Hall All 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 concert venues. Our pupils regularly perform in charity concerts and other cultural events. The highlight of each term is an End-of-Term Concert held at one of London’s concert venues. RMA also continued its partnership with: - SI Fa Sil La Musique in Bois-Colombes, France - Rachmaninoff Music Conservatoire Paris ## Achievements and Performance RMA pupils continued to achieve excellent results in both instrumental studies and other disciplines, frequently receiving **Distinction marks** in public examinations, including graded instrumental and theoretical exams and Diploma exams. RMA pupils also gained **music scholarships at leading London academic and music schools** . RMA pupils appeared with Camerata Tchaikovsky, one of the UK’s leading professional chamber orchestras, and performed in concerts both in the UK and internationally, including in France, Poland, Turkey and Cyprus. ## Financial Review Total incoming resources for the period amounted to **£466,109** , and total resources expended amounted to **£458,446** . 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 9 March 2025 Rachmaninoff Music Ac2demy Statement of Èinah'c¥sI"Acairities, . Year Ended 15 May. 2Q25 2025 2024 Incoming resources from generated funds Incoming resoutces froin charitabl¢ actiritief 466,109 Total incoming resources 421,787 466,109 Resources expended Chatitable actlvities 421,787 TeacFLin Concerts (372,026) (48,373) (420,399) Total charitable expenditure (343,029) (30.8)( 5) Governance costs Support costs aiid depreciation (373,924) (18,000) (20,047) (18,500) (22,538) Total resources expended 458.446 Net movement in funds 414,962 7,663 6,825 Fund bAlance5 at 15 May 2024 Fund balances at 15 May 2025 7,739 15,402 914 7,739 Rachmaninoff Music Academy Balance sheet As at 15 May 2025 2025 2024 Fixed assets Tangtble assets Current assets Cash at bank and in hand 52 4,166 56,408 Creditors.. amounts falling due within one year Net current liabilities Total assets less currLnt jiabilities 44,601 (41,058) (41,028) 15,350 15,402 3,573 7,73 Untestricted funds 15,402 7,739 ThL accounts wete approved by the trustees on 13 March 2026 E Braun Trustee Rachtnaninoff Music Academy Notes to the accounts Year Ended 15 May 2025 l Accounting policies Basi$ of preparation The account.8 havL beLn prLpar¢d undcr rhe historical cost convention. The Accounts have been picpared iii accordance ￿1th appltcablL accouiiung standards, rhe sttttemcnt OE recommended practicc "Accounting and Rcporting by Chariues" issued in March 2005 and Charities Act 2011 Tangible fixed assets and depteciation Tangrible Fixed a4sets arL StarLd at cobr less depreciation. DepL'ci¥1tion is provided 41t rates calculaied to writc off thL cosl le%% estimated regidual vdue of L'ach abSLt over its expected u¥L,Ful lif¢ as follows: Mu¥ic81 ingtrurnents IOO/o straighc line 2 Incoming resources from charitable activities 'CL% rcccivLd and ticket sale 466,109 421,787 3 Total resources expended Charitable a¢tlVAtie8 Teaching IlctlVlULs undertakLn directly Supp()rr cnstb 372,026 15,933 387.959 372,026 15,()33 387,959 Concerts Support costs 48,373 48,393 (il)vcrnancL COSts 18,(X)O 18,000 4 Support cost6 Teaching Lonc¢rts Total 15,933 Third parry senrices LunLLrr cxpen.%¢% DLprcciauon 15,933 48,373 4,114 48,373 20.047 48.3 5 Trustees N(>nL OF thc trustccs rcccivcd 2ny rcmunerxtion during thL' ycar. 6 Employee8 There WLrc no employLCS during the year 7 Tangible fixed assets Cost Ai li Imay 2024 Additions Ilt 15 May 2025 41.142 41.142 Depreciation At l i Nl2)T 2024 Charge Ei)r rhe period At 15 May 2025 Net book value Jlr 15 .Nlay ?025 At 15 May 2024 36,976 4.114 41,090 52 4,166