CHELSEA ACADEMY FOUNDATION
Annual Report and Financial Statements
Year Ended 31 August 2025
Charity RegistratK)n Number. 1120784

CHELSEA ACADEMY FOUNDATION
Contents
Page
Reference and administrab.on inlormation
Trustees, report
Independent Examinerfs report
Statement of financial ath.viks
Balance sheet
10
Notes to the financial statements
11-15

CHELSEA ACADEMY FOUNDATION
Reference and administration Infomiatlon
Trustees
Ms Megan Ouchtertoney (Chairl
Dr Deli Adewoye
Mr David Rosa Casado
Mr Matthew Gela
Mrs Zehra Imam-sadeque
Mr Filippo Lanza
Mr Andreja Lazic
Mr Jean-charles Lemardeley
Ms Mariana Luxardo
Ms Astrid Nellemann
Ms Julie OycxJoa
Ms Anna Rainsford
Appointed 17 June 2025
Appointed 17 June 2025
Resigned 1 March 2025
Secretary
Diana Goodhugh
Appointed 1 September 2024
Charity address
Lots Road
London
SW10 OAB
Charity Registration No
1120784
Bankers
N8tional Westminster Bank PLC
Kensington. Royal Garden Branch
PO Box 2341
55 Kensington High Street
London W8 5ZG
Independent Examiner
Rachel Doyle ACA DChA
MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS

CHELSEA ACADEMY FOUNDATION
Trustees. report ft>r the year ended 31 August 2025
The trustees present their annual report and financial statements of the Chelsea Academy Foundation
Ilhe"Foundalion"I for the year ended 31 August 2025.
GOVERNANCE. STRUCTURE AND MANAGEMENT
The Chelsea Academy Foundation is governed by a Declarats"on of Trust dated 2 August 2007 and was
registered as a charity wtth the Charty Commission on 6 September 2007
Trustees
The names of the Iruslees who served during the period are set out as part of the reference and
administration informalion on page 3 of this annual teFOrt and financial ststements.
Recmitm&nt ènd appointment
The appointment of the trustees is govemed by the Declaration of Trust dated 2 August 2007. AII
trustees must be aged at least 18. and there must al all bmes be a minimum of ￿0. The Iru5tees may
appoint additional Iruslees in consultats.on with the Govemin9 Body of Chelsea Academy Ithe
'Academy'l
The lemi of offtce for tnjstees is three years. Trustee appointments can be renewed.
Induction and frraining
The Foundation recognises that new and current trustees should be aware of the Foundation's
charitable purposes, mode of operation, plans, 1X)I￿leS and costs. As part of the infomial training
provided to Iruslees, trustees are provided with a copy of the Declaration of Trust, a copy of the18lesl
Iruslees. report and financial statements, a copy of other relevant policies as well as minutes of recent
trustees, meetings. Further training Is provided lo trustees upon their request.
Statement ot trustees. responsibilities
The trustees are responsible for preparing the trustees, report and financial statements in accordance
with applicable law and Unrted Kingdom Accounting Stsndards (United Kingdom Genetally Accepted
Accounting Practi￿).
The law applicable lo charities in England and Wales requires the trustees lo prepare financial
ststements for each financial year which give a true and fair view of the stale of affaifs of the charity and
of the incoming resources and application of resources of the charity for that peri(Ll. In p￿paring these
financial statements. the trustees are required lo..
select suitable accounting policies and then apply them consislenlly,.
observe the methods and pnnciples in the Statement of Recommended Practice (Accounting
and Reporting by Charities) (the Charities, SORPI.,
make judgements and estimates that are reasonable and prudent.,
slate whether applicable United Kingdom Accounts"ng Standards have been followed, subject
lo any material departures disclosed and explained in the financial slatemenls". and
prepare the financial ststements on the goin9 concern basis unless il is inappropriate to
presume that the charity will continue in operab"on.
The Iruslees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them lo ensure that the financial
stslements comply with the Charities Act 2011, the Charity IAccounls and Reports) Regulations 2008
and the provisions of the Declaration of Tnjst. They are also responsible for safeguarding the assets ot
the charity and hen￿ iof taking teasonable steps for the preVent￿n and detection of fraud and other
irregularities.

CHELSEA ACADEMY FOUNOATION
Trustees. report for the year ended 31 August 2025
Organisalion
The Foundation is governed by a board of trustees, who hold these roles on a voluntary basis. The
trustees are responsible for the policies, activities and assets of the Foundation. They meet formally at
least three limes each year to re￿1ve and consider reports from the Aeademy and programme
providers, review the Foundation's financial situation and monitor the objeclwes of the Foundation. They
also ￿VIeW the broad strategy of the Foundation, the granl-making and the operational policies. The
Chair is in r￿ular contact wth the Academy lo review progress and assess how best to deliver the
objectives of the Foundats"on_ For the year ending 31 August 2025, the tnjstees formally mel six times.
The secretary takes day to day responsibility for the adminislralion of the Foundation. induding the
management of income and expenditure and the preparation of annual ac￿unts.
Risk management
Regular board meetsngs and inleraclions betsveen the Chair, the secretary and the Academy are part of
the risk management framework. During these meetTngs, risks faced by the Foundation are anatysed
and action taken if required, and if applicable, preventative measures are implemented. The trustees
have assessed the major risks lo which the Foundation is exFrf)sed and are satisfied that systems are in
place lo mitigate its exposure lo those risks.
Risks identified and for which mib"gation ￿EasureS have been put in place include..
Insufficient reserves
2. Unexpected loss of significant income source
The Foundation's governance ensures that all grant making is commensurate with the funds available.
minimising the risks lo donors and benefiaaries. The Foundation's Reserve5 Policy Isee page 61 is lo
help withstand the effects of an economic downtum or decrease in fvndraising income.
ACTIVITIES. SPECIFIC OBJECTfvES AND RELEVANT POLICIES
Charitable objectives and oclivities
In setting the Foundation'5 objeth.ves and planning ils aclNilies. the trustees have given careful
consideration to the Charity Commission's general guidan￿ on public benefit
The Foundation's charitable objectNes as expressed in its t)eclaralion of Trust are as follows."
The support of such charitable purpose or purposes which promte the advancement of the
education of the pupils at Chelsea Academy. including the provision of scholarships, bursaries
and the funding of capital projects connected to Chelsea Academy.
The Foundabon supports an array of programmes to ensure that students at the Academy have
opportunities lo flourish by broadening their horizons, narrowing the attainnEnt and scoal mobility gap,
and encouraging students to fulfil their overall potential.
Many students are from local primary schcols in disadvantaged areas.. our largest is in an area among
the 11°k most deprived in England, and several others are in the 2>330A most deprived nationally. In
2024-2025, 44.8Vv of the Academy's students were eligible for ￿e Pupil Premium grant, as compared
to the national average of 27.7'A and 46.70A eligible for free school meals, above the national average
of 25.7Qh.
To further the Foundation's charitable purposes. the Foundabon supports programmes, facilities. and
services beyond those provided by the governnEnt.

CHELSEA ACADEMY FOUNDATION
Trustoe5' report for the year ended 31 August 2025
The Foundation supports four broad types of prograinmes to further rts purposes.. Academic.
Enrichment, Life Skills and Student Wellbeing.
Grant making pollcy
Chelsea Academy opened in September 2009. and grants have been made having considered the
rreTils of each individual request. The trustees have agreed that the following categories of grant
application will be given pnority..
Projects that support and enhan￿ the Academy's delivery of its core academic curriculum.,
Projects that support and enhance the Academy's ability lo provide opportunities that develop
students. skills in sporL music and the arts-
Education81 travel opportunjties within and beyond the UK that would otherwise be difficult for
students and their families lo access,.
Activities that serve to develop the Academy's distinctively Chrislian ethos-,
Projects that gNe students sustainable and strategic life skills, e.g. leadership., problem-
solving., research.. networking.. leam-building., making presentstr"ons', public speaking,. and
Projects that SUPF)Ort student wellbeing_
Reserves policy
Reserves are maintained in line with policies. and grants are not disbursed pr*)r to re￿ipt of funds.
At the year end, the Foundation had funds of £293.96212024.' £392.8151. These comprise unrestricted
funds of £242,60812024.' £260,851) and lestr￿ted funds of £51.35412024.' £131.9641. Free reserves
available al 31 August 2025 were £242,60812024". £260.851) lo supwrt the Academy and its students
for the acadefflic year 2025-2026 in the following areas..
Academic
Revision GCSE Guides, Digital Theatre. The Access Project, Sparx Platforms,
academic tn'ps",
Enrichment
Life Skills
Fulham Reach Rowing. Debate Mate., First Story
Oppidan Menlorrng. Ofacy Programme. Duke of Edinburgh and
Student Wellbeing Alchild, Chelsea Champions. Pla￿28e. Jamie's Fami, Breakfast Allowan￿,
Hardship_
The trustees aim for the Foundats'on lo hold a reserve of unrestricted funds al the end of the year to
enable the key Foundalion-funded programmes lo conty.nue without interruption until donab'ons are
received., and the Iruslees aim to have sufficient funds available lo support new or expanded
programmes and requests as and when the Academy applies for a grant that meets the Foundation's
chantable putposes.
Investment policy
Monies raised lo date have been relained on deposil wilh the Foundation's bank.
ACHIEVEMENTS AND PERFORMANCE
During 2024-2025, the Foundation supported a wide range of programmes. trips and experiences for
Chelsea Academy Students. Some key achievements were".
DelNering over 2.700 student eXperIen￿S through Foundalion-funded programmes.
Providing sludenl wellbeing support with 350 in-hoL¢se counselling sessions lo over 85 students.
Enabling 99 students to participate in the Duke of Edinburgh Awards at the Bronze. Silver and
Gold levels.

Supptying 180 Year 11 students GCSE rev¢sion tooks in all GCSE subjects.
Supporting a Mock Interview Day for 180 Year 10 students at the Academy.
Supporting a Sixth Form Mock Interview evening for Year 12 And Year 13 students.
Piloting a whole-school Breakfast Programme, Whe￿ the nurnber of students having breakfast
al the Academy doubled to an average of over 100 students per day.
Introdu￿d over 50 volunteer5 to support Foundation programrne, particulady in the Life Skills
area.
Maintaining a hardship fund available lo students who may need financial assistance during the
academic year.
Revlew of the period and financial transactions
The Foundation received voluntary income totalling £161.523 12024.. £147,368) which helped the
Foundation to sustain its work with Chelsea Academy. The total spent from unrestricted funds on
projects was £108,36512024'. £72.7581 and from restncled funds £157, 191 {2024. £86,167). In line with
our plans. the higher level of grants awarded in 2024-25 was ftjnded by drawing on restricted funds
brought forward and on designated reserves. resulting in a planned reduction in total funds at year end.
FUNDRAISING
The Foundation raises its fttrnds through grant applications from several grant giving bodies and private
donations by individuals. It does not work wrth any commercial part￿1pants or professional fundraisers
and abides by the Code of Fundraisirbg Practi￿ prcxluced by the Fundraising Regulator. All fundraising
is monitored by the Iruslees.
FUTURE PLANS
The trustees look towards the next few academic years aware of increasing economic hardship
experienced by many of the Academy's students and families and the impact this could have on
students, education. The trustees will continue to deliver support tr) the Academy through programmes
that aim lo address the attainment and s(Kial mobility gap and to encourage students to flourish, not
only during their lime at the AcadeTTry. b¥Jt throughout their lives.
The ITUStees conb'nue to review how they can best help generate income in a structured way. The
income will continue to be derived from the following three separate key sources..
(al gifts frorn donors, and any associated gift aKI-,
(bl fundraising events", and
{cl
applications to grant making trusts.
The Foundation will continue to support the development of the broadest leaming experience possible
for the student5 of the Academy and, in particular. lo help ensure access for all regardless of the
economic means of parents and carers of students.
On behalf of the trustees
MSM
an
uchtedoney (Chair)
Approved by the trustees on." 17 June 2026.

CHELSEA ACADEMY FOUNDATION
Independent examlner's report to the tfustees of the Chelsea Academy Foundation
I report on the ac(x)unls of the Ch8nty for the year ended 31 August 2025. which are sel out on pages
81015.
Responsibilities and basis of report
As the charity's Iruslees you are responsible for the preparatron of the accounts in accordance with
the requirements of the Charities Act 2011 {'the Acl'l.
I report in respect of my examinab.on of the chanty's a￿OuntS caffled out under section 145 of the Act
and in carying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145{5llbl of the Act.
Independent Examiner's Statement
I have completed my examinab"on_ I confim that no material matters have corne lo my attention in
connection with the examination giving me caijse to believe that in any material respect..
1. Accounting records were not kept in respect of the charty as required by section 130 01 the ACL or
2. The accounts do not accord with those records.. or
3. The accounts do not comply with the applicable requiiemenls con￿MIng 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 ordei to enable a proper understanding of the accounts lo be
reached.
Rachel Doyle ACA DChA
MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 gFS
Dale". 17 June 2026.
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and
Wales Iregislered number OC4555421

CHELSEA ACADEMY FOUNDATION
Statement of financial activities for the year to 31 August 2025
2025
2024
Unrestricted Restricied Total Fur￿$
Funds
Funds
Total
Funds
Note
Incoming Resources
Voluntary in(x>me-
Fundraisir4J
13,815
13,815
10,230
Donabons
51,5C
132.366
126,720
Gift Aid
11.343
15,342
10.418
Interest receN
13.013
13,013
12.953
Totsl incoming resour¢e$
97,878
76,658
174.536
160,321
Resour￿ Expend•d
Cost of raising funds
4,7
4.833
4,281
Governance costs
3.0
2,11)0
Expenditure on Charitab
Activities-Grants
108,365
157,191
265,556
158.925
Total reSoUr￿S expend&Y
116.121
157.268
273.389
165.30S
Net loutgoiro) inccffling
resources for the peri(xl
118.243)
{80,610}
198,853}
14.9851
al 1 September 2024
260.851
131,
392.815
397,800
Funds balances carried foThvard
at 31 August 2025
242,W8
51,354
293.962
392.815

CHELSEA ACADEMY FOUNDATION
2025
2024
Balance sh•8t at 31 August 2025
Note
Cash at bank and on deposit
307,401
398,891
Debtors
5,171
Credttors.. amounts falling dua within one year
118.610)
Net current assets
293.962
392,815
Creditoys: amounts falling due after ¢)ne year
Totsl net assets
293.962
392,815
Represented by".
Funds and ieserves
- restricted funds
51,354
131,
unrestricted funds
242,608
260.851
Total funds
293,962
392,815
The Notes on pages 11 - 15 form part of these financial Stateff￿nts.
Approved by
Ms Meg
Ichair o
chterloney
lees)
Date. 17 June 2026.
10

CHELSEA ACADEMY FOUNDATION
Notes to the financial statements
1. Aceounling policies
Basis of accounting
The financial statements have been prepared in accordance with the Charits"es SORP IFRS 102)-
Accounting and Reporting by Charities.. Ststemenl of Recommended Practi￿ applicable lo charities
preparing their accounts in accordance with the Financial Reporb"ng Standard applicable in the UK
and Republic of Ireland {FRS 1021 leffecltve 1 January 20191, the Financial Reporting Standard
applic8bSe in the UK and Republic of Ireland IFRS 1021.
Chelsea Academy Foundation is an unincorporated charity and a public benefil entity. The presentation
rrency is pounds sterling. rounded to the nearest £1.
The financial statements have been prepared on 8 going con￿rn basis. The trustees have considered
the reserves available to the Foundation. Grants are not distributed prior lo re￿Ipt of funds.
Incoming resources
Incoming resources are recognised in Ihe perrod in which the FoLtndalion is entrlled lo receipt and the
amount can be measured with reasonable certainty. Gift ARI receivable ¢s recognised in the same period
as the related donation.
Resources expended
Expenditure is included in the slalemenl of financkal actNities when incurred and includes any
attributable VAT which cannot be recovered.
Grants payable are charged in the year when the offer is made and are uncondib'onal. Grants offered
subject to condrtions which have not been met al the year end are noted as a commitment but not
accrued as expendrture.
Fund accounting
The unreslricled funds comprise those monies which are freely available for applicab.on towards
achieving the charitsble objects of the Foundation. and which rnay be applied at the discretion of the
trustees. The restricted funds are monies raised for. and their use re5tn.cted to. a specific purpose or
donations subject lo donor-imF)osed conditions.

Notes to the financial statements (continued)
2025
2024
2. Cost of raising funds
Professional fees
1,803
ICT
1,814
1,703
Other costs
2,153
775
Total cost of generab.ng funds
4.833
4,281
Professional fees are for professional indemnity Insuran￿ (£4661 and advertising1£4001", ICT costs
are in respect of Donorfy Iclienl relationship management system) and other costs are various
transaction fees and markebng costs.
3. Employees
There were no staff employed by the Foundats"on in either the current or previous year. No trustee
received any remunerab'on from the Foundation in respect of their services dur￿ng the year12024".
Nill. During the year, no trustee received any out of pocket travelling expenses (2024.. Nill.
2025
2024
4. Governance costs
Independent examination
3,000
2,100
3.000
2,100
S. Expenditure on Charitable ActivIties￿rants
All the expendittjre on charitable activities made during the year have been made lo Chelsea
Academy. in line with the charity's obieclives benefiting the students at Chelsea Academy. Grants
made in the year tolalled £265,55612024." £158.925}.
6. Debtor5
The debtor amounts in both years12025'. £5.171", 2024.. £5,040) relate to gift aid.
12

Notes to the financial statements Icontinuedl
7. Creditors: amounts falling due within one year
2025
2024
Expense creditors and accruals
3,000
2,100
Grants and expenses owing to Chelsea Academy I
below}
15,610
9.016
18,610
11.116
Grants and expenses owing to Chelsea Academy
(included creditors)
Grants and expenses payable brought forward
9,016
18,944
Grants awarded in the year
265,556
158,925
Expenses incurred by Chelsea Academy on the
Foundation's behalf during the year
91
Grants and expenses paid during the year
(259.016}
1168,9441
Grants and expenses payable carried forward
15,610
9,016
8. Restrlcted funds
The income funds of the FoiJndab"on include restricted funds cornprising the following
unexpended balances held ft)r restricted purFK)ses.'
Donor (Restrictions)
At1
September
2024
Incoming
resources
Resources
At31
expended August
2025
Peter Stormonth Darting Charitable
Trust IPlace2Be)
10,OCK)
10,000
110,000}
10.000
Sir Simon Robertson IPlace2Bel
5.000
{5.000}
South Kensington Estates (Music. Arts)
12.456
{9.640)
2,816
Anonymous IPlace2Be}
5.000
15.000)
The Oppidan Foundation (Mentoring)
2.000
12.000)
John Armitage Charitsble Trust
(Educalion-various)
72.319
(72.3191
Anonymous {Tech Workshops)
25.750
(25,7501
Giving Tuesday (Life Skills)
17,158
{6,9091
10.249
13

Anonymous IRevisK)n Tripl
1,039
1,039
AnonymLts (Alumni Developmenll
11.150
11.150
AnonyThK)us IFood Maslerclassl
1,500
11501
1,350
Anor¢ymous (Breakfast P¥ogrammel
20.000
14,250
(20,000}
14,250
The Wellington Square Foundab"on
{Scien￿ andlor Music Trips)
1.000
15001
500
131.964
76,658
1157,2681
51,354
Al of the restricted funds represent funds where the donor has staled the purpose of the funds
Pfovided land sometrmes also the period over which the funds may be utilisedl.
Comparative inforrnation in respect of the preceding year is as follows."
Donor {Restrictionsl
At1
Incoming ReSoU￿eS
September resources
expended
2023
At31
August
2024
John Armilage Charitable Trust
(Educalion-variousl
41.189
65,000
133,8701
72,319
Kellogg's IBreakfasll
554
{5541
Peter Slormonlh Darling Charitable
Trust IPlace2Be)
10.0(XI
10.000
110,0001
10,000
Sir Simon Robertson {Place2Be)
10,000
15,0001
5,000
South Kensington Estates {musi¢.
Arts)
17.821
10.000
115,3651
12.456
Anonymous
120
{120}
The Oppidan Foundation {Mentorin9}
2,000
{2,0001
Anonymous (Alumni Development}
12,500
11,3501
11,150
Hardship Fund
450
500
19501
Giving Tuesday 2023 Iwellbeingl
12,553
112.553)
Anonymous IRevisi)n Tripl
Nil
5.529
{4,490)
1,039
Anonymous IBreakfast Programme)
20.000
20,000
The Wellinglon Square FOundat￿n
(Science andlor Music Trips)
1,500
(1,5001
Nil
92,634
127,082
(87,7521
131.964
14

9. Unrestricted funds
The Income funds of the Foundation include unrestricted funds cy)mprising the following unexpended
balan￿5, which form part of our reserves policy..
At1
Incoming Resources
September resources
expended
2024
At31
August
2025
Unrestricted funds
260,851
97,878
1116.1211
242,608
260,851
97.878
(116,121}
242,608
10. Connected charity and related party
The students attending Chelsea Academy are the main beneficiaries of the Chelsea Academy
Foundation.
Grants made in the year to Chelsea Academy totalled £265,5￿ {2024'. £158,925) and expenses
incurred by Chelsea Academy on the Foundation's behalf during the year totalled £5412024". £911. The
balance due to Chelsea A￿demY at the yeaT-end was £15.61012024. £9.0161.
During the year, the FourFd8tion re￿[Ved total donations of £47,249 {2024'. £31.208} from the trustees
and their immediate familie5.
15