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|**Contents**|**Page**|
|---|---|
|Reference and administration information|2|
|Trustees' report|3-5|
|Independent Examiner's report|6|
|Statementoffinancial activities|7|
|Balance sheet|8|
|Notesto the financial statements|9 - 12|





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|Trustees|Ms Susan Harris, (Chair)|Appointed 6 March 2017|
|---|---|---|
|||Appointed Chair 5 March 2019|
||Ms Simone Brych-Nourry|Appointed 25 November 2014|
||Mr Niccolo Caderni|Appointed 25 November 2014|
||Mr David Rosa Casado|Appointed 27 January 2021|
||Mr Filippo Lanza|Appointed 15 August 2021|
||Ms Astrid Nellemann|Appointed 2 March 2020|
||Mr Julian Simmonds|Appointed 25 November 2014|
|||Resigned 22 June 2021|
||Ms Serena Snell|Appointed 2 March 2020|
||Ms Lindsey Tethal Wright|Appointed 1 June 2020|
|||Resigned 14 June 2021|
|Secretary|Mr Lucian Boyd Harte|Appointed 1 April 2016|
|Charity address|Lots Road||
||London||
||SW10 0AB||
|Charity Registration No|1120784||
|Bankers|National Westminster Bank PLC||
||Kensington, Royal Garden Branch||
||PO Box 2341||
||55 Kensington High Street||
||London W8 5ZG||
|Independent Examiner|Brendan Sharkey FCA||
||MHA MacIntyre Hudson||
||Chartered Accountants||
||6" Floor||
||2 London Wall Place||
||London||
||EC2Y 5AU||





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|||||**2021**|**2020**|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total Funds|Total|
|||Funds|Funds||Funds|
||Note|£|£|£|£|
|**Incoming Resources**||||||
|Fundraising|||||485|
|Voluntary income- donations||115,111|63,394|178,505|202,909|
|Giftaid received||29,918||29,918|23,933|
|Tatal incoming resources||145,029|63,394|208,423|227,327|
|**Resources Expended**||||||
|Cost ofgeneratingfunds|2|2.609||2,609|3,805|
|Governance costs|4|1,740||1,740|1,740|
|Grants|9|22,437|87,833|110,270|69,455|
|Total resources expended||26,786|87,833|114,619|75,000|
|Netgain/ (losses) on investment||11,062||11,062|(35,000)|
|Net (outgoing) incoming||129,305|(24,439)|104.866|117,327|
|resources for the period||||||
|Funds balances broughtforward||||||
|at 1 September 2020||108,073|140,023|248,096|130,769|
|**Funds balances carried forward**||237,378|115,584|352,962|248,096|
|**at 31 August 2021**||||||





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|**CHELSEA ACADEMY FOUNDATION**||||
|---|---|---|---|
|||**2021**|**2020**|
|**Balance sheet at 31 August 2021**|Note|£|£|
|Investments|5|||
|Cash at bank and on deposit||399,924|320,269|
|Debtors||||
|**Creditors: amounts falling due within one year**|6|(46,962)|(72,173)|
|**Net current assets**||352,962|248,096|
|**Creditors: amounts falling due after one year**||||
|**Total net assets**||352,962|248,096|
|Represented by:||||
|Funds and reserves||||
|- restrictedfunds|7|115,584|140,023|
|- unrestrictedfunds|8|237,378|108,073|
|**Total funds**||352,962|248,096|






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|**2**<br>**Cost of generating funds**|**2021**|**2020**|
|---|---|---|
||£|£|
|Professionalfees|420|740|
|ICT|1,426|1,069|
|Other costs|763|1,996|
|Total costofgenerating funds|2,609|3,805|





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|**4**|**Governance costs**|**`2021`**|**`2020`**|
|---|---|---|---|
|||£|£|
|Independent examination||1,740|1,740|
|||1,740|1,740|



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|**6**<br>**Creditors: amounts falling due within one year**|**`2021`**|**`2020`**|
|---|---|---|
||£|£|
|Expense creditors and accruals|1,740|1,740|
|Grants owing to Chelsea Academy|45,222|70,433|
||46,962|72,173|





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||At 1|Incoming|Resources|At31 August|
|---|---|---|---|---|
||September|resources|expended|2021|
||2020||||
||£|£|£|£|
|Garfield Weston|9,796||(9,796)|Nil|
|John Armitage Charitable Trust|28,875|35,000|(28,875)|35,000|
|John Lyon's Charity|17,381||(13,288)|4,093|
|ArtAuction Fund|4,312||(2,157)|2,155|
|ArtAuction Fund 2019|2,624||(1,312)|1,312|
|Sir Simon Robertson|50,000||(10,000)|40,000|
|The Feathers Association|Nil|9,000||9,000|
|Sir John Cass's Foundation|15,000||(15,000)|Nil|
|South Kensington Estates|10,000|10,000||20,000|
|Weinstock Fund|Nil|5,000|(5,000)|Nil|
|The Hedley Foundation|Nil|2,000||2,000|
|Russell Reynolds|1,000|1,000|(2,000)|Nil|
|Variety Capital|1,000|||1,000|





|Anonymous|35||(35)|Nil|
|---|---|---|---|---|
|Kellogg|Nil|1,000||1,000|
||140,023|63,394|(87,833)|115,584|



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||At 1|Incoming|Resources|At31 August|
|---|---|---|---|---|
||September|resources|expended|2021|
||2020||||
||£|£|£|£|
|Unrestrictedfunds|108,073|145,029|(15,724)|237,378|
||108,073|145,029|(15,724)|237,378|



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