Dimitrl Tiomkln Muslc (Charfly Commlsslon No 1173162) (Company No 10415487) Tru8tee8' Annual Report and Financial Statemonts for the year ended 5 Aprll 2024 •ADIAQ703* 1911212024 COMPANIES HOUSE A27 #175 Dlmltrl Tlomkln Mu8lc Trustees, Annual Report for the year endod 5 Aprll 2024 Contents Pag• Tnjstees Annual Report and SL*ernant of Directors, and Trustees. Responslbllltles Independent Examlner's Report lo Ihe Tru8lus Stalornent of Flnanclal Actlvltl•g Bal•n￿ Sho•t Notes lo the Fin8nci41 Statements 9-12 Dlmltrl Tlomkln Muslc Trustees, Annual Report for the year •nded 5 Aprll 2024 The Trustees (who are the directors of the charilable Gompany fihe ¢harity"} for ihe purposes of Ihe Companies Act 2006) present their report and the financial statements of the ¢harlty for Ihe year ended 5 Awil 2024, ObJ•etiv•s and Aetlvltles The objectives of Dimitri Tiomkin Muslc. as sel rmjt in the Memorandum and Artlcles of Association, are to Pfomote. advance, improve, restore, develop and malnlaln for the benefit of ihe publlc its odu¢alion in, and appreciation of, music by Ihe18le Dimitri Tlomkln by any means that Ihe Tru8le88 decide lo adopt In their full dls¢relion. and lo advance suth charitable purposes as Ihe Trustees see fit from Ilrne lo lime. Dlmitri Tlomkin MUSK was lormed In Octobor 2016. Publlc Bonofll In pursuit ol the charitable objects as sel out above, the Iruslees have considered the Charily CommiJ$ion'$ guldance on public benefll to ensure that all acllvltles meet thls fequirement. The Charlty has furthered 118 charltable purposes lor tho publb benefit duflng Ihe perlod coverad by thls Annual R8POrt Ihfough donalions lo tha Film Muslc Foundatlon which aim to support charitable work in Ihe advancement of gducalion In the music by Ihe late Dlmllrl Tiomkin. Achl•v•ffl•nt• and P•rfomianc• The charlly SLtpports ils main aim lo promote. advance, Improve, reslore, develop and maintaln for Ihe publlc beneflt and education the appreciation of the muslc of th8 late composer Dimllri Tlomkin. The charlty has en gieemenl with the Film Musl¢ Found81ion to further Ihis aim. Paymenls lolalllng £65,000 w•r• made during Ihe year. The Cazenove Investment Portfolio lar9ets a total retum objective of inflation plus 4% over the lon9 lerffl {rolling 10 years). In 2024 the nel annual r8tum was (10.111/•). The Iruslees continue lo review the perforrnanco and arè invested for the lon9 term. Flnanclal Revlew The stalemenl of financlal aclivlties shows nel incomel{Ios8) for the year 01 £98.847 (2023.. ((£135,477)) rèflécllng dlvSdend Income of £79,724, b8nk Snleresl of £3.113 and expendllure 01 £82,350. The n81 Income for lh8 year includes a galnl(loss) of £96,380 (2023: £{151,799)) on Inveslments Ihe ye8r. Rosorves Policy The rgS8Nes of the Charlty are made up ol an Unr88trlct8d Rè8arne.1118 the pollcy ol the Charlly lo mainlaln the level of Ils funds. whlch aro unreslricled, at a level sufficSenl lo cover Ils donallons and costs. The Unrestricled Reserrfe stood at £2.034,463 as at 5 Aprll 2024. InvoStm•nt Pollcy Cazenove Capllal provide Olscrelionary Investment Management Services to the Charllable Company. Thè Portfolio is Invested in the Charity Multl-Asset Fund (CMAF). targets a total return objectlve of Inllalion plus 4% over Ihe long term (rolling 10 years). The Fund also targets a 4% p.a. distribution. paid 1 OA per quarter. Dimitrl Tiomkin Music Trustees, Annual Report for the year ended 5 April 2024 The Fund adopts an unconstrained approach with no explicit negative screening. ESG factors are integrated into the investment process. The portfolio has a long-lerm investment horizon, the Trustees accept Ihe portfolio will have to take a certain degree of inveslment risk (medium-to-high) to achieve its investment objective. The lime horizon for the Portfolio Portlolio is long terrn (longer than 10 years). as the charily seeks to exist in perpetuity. The Portfolio performance is reviewed on a regular basis. Plans for Future Periods The lime horizon for the Investment Portfolio is 10 years, the Portfolio performance is reviewed on a regular basis. Structure, Governance and Management Settlor.. Olivla Cynthla Sholto Douglas Governing Document: The prlncipal governing document is the Articles of Associalion dated 7 October 2016. Appointment of Tiustees: The poV￿r to appoint new trustees resis with the trustees. The trustees, who are also company directors for company law purposes, are appointed by ordlnary resolution or as sei out In s.22 of the articles. Investment Powers: The Charity has wide powers of investment. Management and Control: The charily is controlled by the truslees, who are Currently.. Olivia Cynthia Sholto Douglas Diana Elizabeth McDowell Amelia Thornton Day to day administration of the charity is delegated to Charles Russell Speechlys LLP. Dlmitrl Tlomkln Muslc Trustoes. Annual Report for lh• year endod 5 Aprll 2024 Roforence and Admlnlstratlve Dotall8 Nama of Charity Dimltrl Tromkin Music ChAfity No. 1173162 Company No. 10415487 Truslaes.. Ollvla Cynthla Douglas Dian8 Elizabeth McDowell Amella Thomton Prlndpal Offlce Address: Chade8 Russell Spe8chly8 LLP 5 Fleet Pla¢6 London EC4M 7RD Inve8tmanl Managorn: Cazenovo Capllal Schroder & Co. Llmlted 1 London W811 Place London EC2Y SAU Independ￿1 •xaffllner8: N811 Hltchlngs FCA Franc1$ aark LLP Centenary House Penlnsula Pa Rydon Lana Exètei EX2 7XE Dlmltrl Tiornkln Music Independènt ExamSner's Report to the Members of Dlmltrl Tlomkln Muslc for the year ended 5 Aprll 2024 Slatoment of TN81•os' responsibilities The Trustees are re$pon$lble for Preparing the Trustees, Report and the financial 81atemenl8 in accordance with applicable law and Uniled Kingdom Accounb'ng Standards {Uniled Kingdom G8nerally Accepted Accounling Pfaclicel. The law applicabie to charities in England & Wales requires the Ifuslees to prepare financial slalern8nls ftt each financial y8ar which give a true and lalr view of the Stale of affairs of the charity and of the Incomlng resources and appltallon ol resource8 ol the charily lor that perlod. In preparing Ihese finan¢lal staternenls. the trustees are requirad to,. soltct suilable a¢¢ounling pol￿18$ and then 8pply them conslslenlly.. observe the methods and principles in the Charilies SORP make judgamenls and e51imales Ihal are reasonable and prudent., stale vthelher appllcable accounllng standards have boon followed. subja¢t to any malerlal departures disclosed and explaineij in thè financial statements- prepare the financial slalemenls on the going concern basis unless It is inappropTlate to Pfesuffle Ihal the charity wlll conllnue In oper8lion. The Truslees are responsibl8 for keeping accounting records that dlsclose with reasonable accuracy al any lime the Iinancl81 posillon ol the charlty and enable them to ensufe Ihal the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assels of the chafily and hence for iaklng reasonablo $18ps for tho prevenlion and deteGtion ol fiaud and other Irr•gularilleB. Signed: Dale.. .1,6.l.LL. Amo Thornlon On behall of the Trustees Dimitri fiomkln Music Independenl Examlner's Report to the Members of Dlmltri Toomkln Muslc for the year ended 5 Aprll 2024 I report on Ihe charlly trust•e$ on my ex8mlnallon of the accounls of Ihe Charity for the year ended 5 April 2024. R•sponsibilities and basis of report As Ihe charty's truslees of Ihe Charlly (and also Ils dlrectors for the pufposes of company law) you are responsible for the preparation of the accounts In accordance wlth the requlrèmenls of the Companies Act 2006 ('Ihe 2006 Act,). Havlng s3ilsfled mysell that the a¢counts of the Charlly ara not requlred to be audlted under Part 16 of the 2006 Acl and are eligible for Independent examination, I report in respect of my exafflinallon of your charity's a¢counts as carried out under section 145 of the Charities Acl 2011 ('Ihe 2011 Aci.). In carrying oul my examination I havè followed th8 Olfections gbv8n by the Charlly Commission undèr section 14515) (b) ol the 2011 Acl. Independent examlner's stat•m•nt I have complelgd my examinallon. I conllrm that no marters have come lo my allenlbon In connection with th• eumlnalion 9lvlng me cause lo believe.. accounting records wero not kapl in respecl ol the Charity as required by seclion 386 of the 2006 Acl; Cf the accounts do not accord vAlh tho$8 rocords; or tha accounts do not comply with Ihe accounllng requirements of section 396 of thè 2006 Act other than any requiremenl that the accounts glve a 'lrue and falr view vthlch Is not a maller consid8r8d as part ol an independenl examinallon- or the accounts have not been Pfepaffjd in accordance wlth Ihe methods and princlples of Ihe Slalemenl ol Re¢omrn8nded Practice for accounling and reporling by charlll8S (applicable to charities prep8ring Ihelr accounts In a¢coTdance with the Flnanclal Reportln9 Standard appllcabl8 in the UK and Rapubllc of Ireland (FRS 102)). I have no ￿nCernS and havè come across no other mallers In conneclion wllh the examinatlon to whlch attenlion should ba drawn in Ihls raport in Qrder lo enable a prop6r undefslanding ol tha accounts lo be reached. Ill￿[ l-akcucr Neil Hitching¥ FCA Francls Clark LLP Centenary Hous• Peninsula Park Rydon Lane EXETER EX2 7XE Dlmltrl Tlomkin Music statement of Flnanclal Activlties (incorporating Income and Expenditure aGGount) for the year ended 5 Aprll 2024 2024 lolal 2023 Total Lknraslrided Fund¥ Unreslri¢18d Fund5 Note Incom•: Don8tions and legacies Inv95tmenls Bank Interest Investment Income 3.113 79.724 3,113 79,724 685 79,604 79,804 Total incomo 82.837 82,837 80.289 80,289 Exp•ndilur• Charlt3bl• activltl••; Granls and donations payable Adminlslfallon Insurance Property expenses Legal & Professlonal Fees Bank Charge8 85.000 65,000 51,285 51.265 3.369 389 3,369 389 10.260 373 72 1.815 10,260 373 72 1.816 13.592 13,592 152 152 Total •xp•ndllur• 82.350 82,350 63,937 83,937 Nal Incomelm•l(exp•ndltur•) 96.847 96,847 (135.447) (135.477) TranAf•r b•tw••n lund• N•1 mov•m•nl In lund• 96.847 96,847 <135.447) (135.447) Reconclllatlon ol funds Tolal lunds brought foréi8rd 1,937,616 1,037,616 2,073,063 2,073.063 Tol•l fund• earrl•d forn•rd 10 2.034,483 2,034.483 1.937,616 1,937.616 Dlmltri Tlomkin Music Balance Sheet for Ihe year ended S April 2024 (company no. 10415487) 2024 Total 2023 Total N•t• Flxad assots Investments al market value Inveslrnent property 5 1.947.S30 70,000 1,849,914 70,000 2,017.530 1,919,914 Curr•nt a•$¢l8 Cash al Bank Olher Debtors Prepayments Accrued Income 20,022 20.356 20,022 20,356 LlabilltS•s Cr•dltors: amount• l•lllng du• wlthln on• y••r Trade Credilor8 Accruals 039 2,250 839 1,815 3,089 2.e54 N•t CUff•nt a88el• 16,933 17.702 Nel ass•ls 2,034,463 1,937.616 Allocatlon of th• charlly n•t a•s•t•: Unr•glrlct•d Incom• fund• 2,034,483 1,937.610 Total Charity fundj 2,034,483 1,937.616 The trustees are 6alisfied th81 the charlly Is enliued lo exemplion Irom tho provlslon8 of the Compan103 Act 2006 (the Act) relating to the audit of the Ilnanclal slalemenls for the yeaf by virtue ol seciion 477, and that no member or members have requested an audit pursuant lo section 476 of the Acl. The truslees 8¢knowledge Ihelr rospon8ibililies for: (l) ensurlng that Ihe charily keeps adequate accountlng records whlch comply wlth seclion 386 01 the Acl, and (ill preparing financial slatements whrch give a true and fair view of the stale ol affalrs of the charlly as at Ihè end of the financial year and of Ils profil or1058 for the financial year in accordance wilh tho requir8menls of sèclions 394 and 395, and whi¢h olhgrwi5e comply wllh the requlroments of the Ac( relating to financial stalem8nls, so far as applicable to the charlty. These linartcial statements have been prepared in accordanc8 With th8 speclal provl3lons for small companies under Part 15 of Ihe Companies Act 2006. Approved by the Trusteas on .IG.Io.i.cl and signed on their behalf by elia Thornl Dlmltrl Tlomkin Muslc Notes to the Ilnanclal Statomonts for the year ended 5 April 2024 A¢¢otsntlng Poliol¢$ Baglg of pr•par*lon Tho financial statements have been prepared in accordance wlth Accoiinting and Rp.pnrting by Charflles: Sialemenl ol Recommended Pra¢ti¢e applicable lo charitses preparing their accounts in accordance with Iho Financlal Reporting Slandard applicable In the UK and Republi¢ ol Ire18nd