**LONDON PERFORMING ACADEMY OF MUSIC C.I.O. (A Charitable Incorporated Organisation)**
## **Charity number: 1173667**
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O. TRUSTEES REPORT**
**AND**
**FINANCIAL STATEMENTS**
**for the YEAR ENDED 31 AUGUST 2025**
**13 Cherrywood Hernhill Faversham Kent ME13 9HX**
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O. (A Charitable Incorporated Organisation)**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025
|**Trustees**|Dr Stefania Passamonte (Chair)|
|---|---|
||Dr Maria Chiara Colonnelli|
||Dr Luigi D’Argenzio|
||Sean Robert Rainey|
|**Charity registered**||
|**number**|1173667|
|**Registered office**|13 Cherrywood|
||Hernhill –|
||Faversham Kent|
||ME13 9HX|
|**Independent examiner**|David C Smith|
||of David Smith & Co|
||Accountants ,|
||7 Grosvenor Gardens,|
||Victoria,|
||London,|
||SW1W 0AF|
London Performing Academy of Music UK Registered Company number: 11531378 UK Registered Charity number: 1173667 UK Register of Learning Providers: 10087207
## London, 6th May 2026
**Name** : London Performing Academy of Music c.i.o. **Website:** http://www.lpmam.com/support/ **UK Registered Charity number:** 1173667
UK Register of Learning Providers: 10087207
**Funds raised to date** : £218,558.51
## **Other sources of funding:**
- BPI-British Phonographic Industry - Classical Committee Quiz £3,000
- Gaia Road production - World Hikari Project £5,000
- Peter John Crossley Bursary £2,000
- Private Benefactors - 1,030
## **Financial information:**
Donation till August 2024: £207,528.51
## **Donations till August 2025:** £11,030
Funding required for the 2025/26 academic year: scholarship support for displaced, disadvantaged, and exceptionally talented music students
## LPMAM c.i.o. TRUSTEES’ REPORT
## for the Academic Year 2024/25
(1 September 2024 – 31 August 2025)
LPMAM C.I.O. is the charitable body supporting the students and educational activities of the London Performing Academy of Music (LPMAM).
Since 2022, LPMAM has continued its commitment to supporting young Ukrainian musicians displaced by the war through the LPMAM Ukrainian Student Refugee Scholarship Fund. Building on partnerships established with Ukrainian conservatoires prior to the outbreak of the conflict, LPMAM has provided educational continuity, bursaries, tuition support, instruments, and relocation assistance to students seeking to continue their musical training in the United Kingdom.
To date, LPMAM has helped bring 54 Ukrainian students to safety, with 32 students studying in London in person since May 2022. We are pleased to report that a further three students successfully graduated in December 2024, marking an important milestone in the development of the programme and in the students’ personal and professional journeys.
All Ukrainian students supported by the programme continue to receive full-time tuition at LPMAM. The charity maintains a specially capped Ukrainian Refugee Enrolment Fee of £9,000 per annum across all programmes, including postgraduate and opera studies, despite the substantially higher delivery costs associated with advanced conservatoire
www.lpmam.com
training. Funding is directed entirely toward educational provision, including tuition, instruments, travel assistance, and specialist masterclasses.
During the 2024/25 academic year, LPMAM continued to advance its charitable objectives through international artistic collaborations, educational outreach, public performances, and intercultural initiatives that provided professional development opportunities for emerging musicians and composers.
A major artistic achievement was the organisation and presentation of the World Premiere of the Mongolian reimagining of Puccini’s _Turandot_ , inspired by the historical Mongolian princess Khutulun, the “Wrestling Princess.” The production formed part of the 100th Puccini Celebration and was presented in collaboration with the Mongolian Embassy, the Mongolian National University of Arts and Culture, international artists, and community participants. The project promoted diversity, cultural diplomacy, and educational exchange through the arts, while providing valuable performance opportunities for LPMAM students and young professionals.
The production brought together performers from Mongolia, Romania, Moldova, Ukraine, Serbia, Ireland, India, Hong Kong, Italy, and the United Kingdom, reflecting LPMAM’s commitment to international collaboration and inclusion. The accompanying documentary film received international media coverage and was subsequently showcased at the United Nations Headquarters in New York in February 2025.
LPMAM also continued to expand its international artistic partnerships through performances and exchanges in both the United Kingdom and overseas. In April 2025, LPMAM student Anastasiia Rud made her American debut with the Villages Philharmonic Orchestra in Orlando, Florida, under the baton of Maestro Pasquale Valerio, performing Beethoven’s _Triple Concerto_ alongside acclaimed violinist Fabrizio Falasca, Head of Strings at LPMAM, and American cellist David Calhoun. The performance marked an important milestone in the growing artistic partnership between LPMAM and the Villages Philharmonic Orchestra and received highly positive audience and press reviews.
Further public benefit and outreach activities included the “From Paris to Peking – A Musical Silk Road” concert presented at Conway Hall in May 2025, featuring performances by LPMAM students and professors and celebrating international musical traditions through classical and intercultural repertoire.
In addition, LPMAM participated in charitable cultural events supporting young musicians and scholarship fundraising initiatives, including a gala concert in Rome celebrating the centenary of architect Piero Alessandrini, where funds were raised in support of musical bursaries for emerging talents.
## **Scholarship and Donation Summary – Academic Year 2024/25**
Total donations and scholarships received: **£11,030**
## **Donors include:**
- BPI (British Phonographic Industry)
- London Performing Academy of Music Limited
- Private individuals
## **Use of Scholarship Funding**
Scholarship and bursary funding during the 2024/25 academic year was allocated toward:
- Tuition and enrolment support for Ukrainian refugee students
- Tuition support for talented students enrolled in the LPMAM Opera Studio
www.lpmam.com
- Educational travel and international performance opportunities for students
- Masterclasses and specialist artistic training
- Public concerts, outreach performances, and fundraising events supporting LPMAM’s charitable activities
Funding continued to be directed primarily toward direct educational provision and student support costs.
## **Challenges and Outlook**
The charity continues to face significant fundraising challenges as prolonged international humanitarian crises and wider economic pressures have contributed to reduced charitable giving and donor fatigue.
Despite these challenges, LPMAM remains committed to supporting displaced and disadvantaged young musicians through bursaries, educational opportunities, and international artistic collaborations. The charity will continue to expand its fundraising activities, develop international partnerships, and seek new sources of philanthropic and institutional support to ensure the long-term sustainability of its programmes.
## **Final Note**
LPMAM remains deeply committed to ensuring that talented young musicians affected by conflict and displacement are able to continue their education and artistic development in a safe and supportive environment.
The Trustees remain grateful to all donors, partners, faculty members, and supporters whose contributions have enabled students to continue their studies and pursue professional artistic opportunities despite exceptionally challenging circumstances.
The charity will continue working to expand access to high-level music education, promote international cultural collaboration, and support emerging artists through scholarships, performances, and educational initiatives.
Dr Stefania Passamonte, LPMAM Chair of Trustees
The Trustees LPMAM charitable Incorporated organisation
LPMAM c.i.o 13 Cherrywood, Faversham Kent ME13 9HX UK Registered charity number: 1173667 Just Giving link: https://checkout.justgiving.com/c/3294906 www.lpmam.com/support/
**JustGiving link** : You can help raise money for London Performing Academy of Music c.i.o by donating online here.
JustGiving sends your donation straight to London Performing Academy of Music c.i.o and automatically reclaims Gift Aid if you are a UK taxpayer, so your donation is worth even more. The Trustees are grateful for the continued support of donors, partners, and patrons whose contributions enable LPMAM to continue its educational and charitable activities.
www.lpmam.com
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O. ______________________________________**
## **Financial Statements**
**For the Year Ended 31st August 2025**
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
|**Income**
Donations
Bursary Grants
Donations and other gifts
Grant from LPAM Ltd
Charitable activities
Total income
**Expenditure**
Charitable activities
Student Fees
Student Bursaries
Sundry - musical instruments
Other Grants
Fundraising activities
Concert expenses
Recording expenses
Travel expenses
Other charitable costs
General marketing
Total charitable expenditure
Excess of expenditure over income
Transfer between funds
Net movement in Funds
Total Funds brought forward
Total Funds carried forward|**Unrestricted**
**Funds**
**£**
-
11,030
-
-|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2025**
**£**
-
11,030
-
-
11,030
11,030
-
-
-
-
-
-
11,030
-
11,030
-
-
-
50
50|**Unrestricted**
**Funds**
**£**
15,000
6,319
500
-|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2024**
**£**
15,000
6,319
500
-|
|---|---|---|---|---|---|---|
||11,030|||21,819||21,819|
||11,030
-
-
-
-
-
-|||21,280
-
-
-
505
-
-||21,280
-
-
-
505
-
-|
||11,030
-|||21,785
-||21,785
-|
||11,030|||21,785||21,785|
||-
-|||34
-||34
-|
||-
50|||34
16||34
16|
||50|||50||50|
The notes on pages 3 - 5 form part of these financial statements.
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**LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **BALANCE SHEET**
## **AS AT 31 AUGUST 2025**
|**Current assets**
Debtors
Cash at bank and in hand
**Creditors: amounts falling due within one**
**Net current assets**
**Funds**
Restricted funds
Unrestricted funds|**£**
49
1|**£**
**£**
**£**
49
1
50
50
-
-
50
50
-
-
50
50
50
50
**2025**
**2024**|**£**
**£**
**£**
49
1
50
50
-
-
50
50
-
-
50
50
50
50
**2025**
**2024**|
|---|---|---|---|
|||||
||**year**|||
||||50|
||||-
50|
||||50|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small charity’s regime.
The financial statements were approved and authorised for issue by the Trustees on 16th June 2026 and signed on their behalf by:
…........................................ Dr Stefania Passamonte Chair of Trustees
Page 2
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **1 Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act.
The London Performing Academy of Music C I O meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
The accounts have been drawn up on a going concern basis.
The charity is mainly reliant upon donations and grant income to raise revenue to meet future expenditure. The Trustees consider that it is appropriate to prepare the financial statements on a going concern basis. This assumes that the charitable incorporated organisation (CIO) will be successful in its fundraising activities. The financial statements do not include any adjustments that would result if insufficient funds are raised. In formulating this assessment the Trustees have taken into consideration the impact of the global cost of living crisis on the charity’s ability to raise funds.
## **1.3 Organisation Status**
The charity is a Charitable Incorporated Organisation (CIO). The members of the CIO are the Trustees. In the event of the CIO being wound up, the liability in respect of the guarantee is limited to £5 per Trustee.
The registered address is 13 Cherrywood, Hernhill – Faversham, Kent, ME13 9HX.
## **1.4 Income**
All income is recognized once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services and facilities, including gifts in kind, are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donations received with imposed restrictions are classified as restricted funds.
Revenue grants are credited as incoming resources when they are receivable provided conditions for receipt have been complied with. Where grants awarded for specific concerts or events are received in advance of the performance, they are deferred so that concert and event costs align with related income.
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**LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **1 Accounting policies (continued)**
## **1.5 Expenditure**
Expenditure is recognized 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. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements and are included in support costs.
Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
## **1.6 �Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.7 Creditors and provisions**
Liabilities are recognized when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognized at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
Trade and other creditors are recognized at the settlement amount after any trade discounts received. Accruals are valued based on the estimated amount to be paid.
## **1.8 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortized cost using the effective interest method.
## **1.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 4
## **LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 AUGUST 2025**
## **2 Critical accounting estimates and judgements**
In the application of the charity’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 recognized 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.
## **3 Income and Expenditure**
Details of the income and expenditure are shown on the Statement of Financial Activities.
The Statement of Financial Activities includes all gains and losses recognized in the year.
All Income and Expenditure is derived from continuing activities.
## **4 Trustees' remuneration and benefits**
No payments were made to the Trustees during the year.
Page 5
**LONDON PERFORMING ACADEMY OF MUSIC C.I.O.**
## **Independent Examiner’s Report to the Trustees of London Performing Academy of Music C.I.O.**
I report to the trustees on my examination of the financial statements of London Performing Academy of Music C.I.O. (‘the charitable incorporated organization’) for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the trustees of a charitable incorporated organization, you are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 (‘the 2011 Act’).
Having satisfied myself that the financial statements of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (‘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 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- i. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
- ii. the financial statements do not accord with those records; or
- iii. the financial statements do not comply with the applicable concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
David C Smith for
David Smith & Co 7 Grosvenor Gardens Victoria London SW1W 0AF
Date: 18th June 2026
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