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2025-08-31-accounts

Registered number: 09692163 Charity number: 1162321

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Company, its Trustees and Advisers 1
Chair's Summary 2 - 3
Trustees' Report 4 - 16
Independent Auditor's Report on the Financial Statements 17 - 20
Statement of Financial Activities 21
Balance Sheet 22
Statement of Cash Flows 23
Notes to the Financial Statements 24 - 42

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025

Trustees Dame Janet Trotter DBE, CVO
Mr Alasdair Cooper (appointed 5 September 2024)
Mrs Gemma Cox (appointed 1 September 2024)
Mrs Lyn Dance (appointed 5 September 2024, resigned 1 September 2025)
Mr Roger Deeks (appointed 5 September 2024)
Mr Martin Stuart Hughes (resigned 1 April 2026)
Mr Chun Kong (appointed 1 February 2025)
Miss Louise Morgan (appointed 25 February 2025, resigned 10 October 2025)
Ms Katie Norton (resigned 13 February 2025)
Mrs Holly Siddall (appointed 30 April 2025)
Mrs Diane Taylor (appointed 29 September 2025)
Company registered
number
09692163
Charity registered
number
1162321
Registered and principal
office
The Chamwell Centre Charity
The Milestone School
Longford Lane
Gloucester
GL2 9EU
Centre Operations
Director:
Mrs Ria Heap
Registered Charity
Name:
The Chamwell Centre Charity
Auditors
Crowe U.K. LLP
Fourth Floor
St James House
St James Square
Cheltenham
GL50 3PR
Bankers
Lloyds Bank
14 Castle Street
Cirencester
GL7 1QJ
Solicitors
Charles Russell Speechleys
Compass House
Lypiatt Road
Cheltenham
Gloucestershire
GL50 2QJ

Page 1

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

CHAIR'S SUMMARY FOR THE YEAR ENDED 31 AUGUST 2025

During a dynamic period, the Trustees have sought to retain a clear sense of purpose and alignment with the Centre’s original vision.

Increasingly we recognise the need to integrate the experiences of those with additional needs with their peers and within their families. The Centre provides a range of facilities which can promote the principles of a fully inclusive society, and this continues to be an important part of our work.

We understand that we have a duty to report on the public benefit that we deliver under section four Charities Act 2011. Taking the Charity Commission’s guidance into consideration, the Board of Trustees is satisfied that our public benefit requirements are met by providing access to facilities that enhance the wellbeing of those with disabilities and support community cohesion.

The accessible facilities of the Chamwell Centre include a hydrotherapy pool, soft play suite, digital climbing wall, rebound therapy trampoline, multipurpose rooms, café, “changing places” bathroom and an outdoor adventure playground.

The Centre offers a range of services. During the school day in term time the Centre offers the 320 pupils of the Milestone Special Needs School access to the facilities. Milestone is a school for children from 3 years to 16 years of age with a variety of complex disabilities and additional needs many with life-limiting and life-threatening conditions. The Milestone School pays for these services.

The year has been one of considerable challenge. Cost of living pressures, energy costs, Minimum Wage requirements and National Insurance increases have been significant and have continued to affect the development of the Centre.

In previous years it had become clear that income was not growing and that there were question marks over the sustainability of the Centre. Costs were high and not likely to decrease with ‘business as usual’: the Trustees were considering the prospect of having to raise £400+k annually from Trusts and Foundations to run the Centre. Given the fundraising climate this was not seen to be an achievable or productive aim.

The Trustees, therefore, decided to make changes and to review the organisation of the charity to ensure it had a long-term future and could play its part in supporting children and families with additional needs. The Trustees undertook a comprehensive review of the Centre’s strategy and sustainability and decided to enter negotiations with the SAND Academies Trust (SAND AT) with a view to SAND AT acquiring control of the Charity at the end of August 2023. The Trustees concluded that there would be operating and financial benefits to this agreement and that £100k costs per annum could be saved. The arrangements were reviewed by both parties and their respective Solicitors and was agreed by both Boards unanimously.

As a result of this arrangement, on 18 July 2023 SAND Academy Trust acquired The Chamwell Centre Charity for £Nil consideration, having acquired control of the Charity. The previous Charity Trustee body stood down at this date.

As the year under review progressed, income streams diversified as intended with an emphasis on earning income from a more intensive use of the Chamwell Centre's facilities, in line with the Objects of the charity. Nevertheless, costs have increased and, while managing costs tightly, we are also planning to diversify income streams further and increase our focus on fundraising.

Page 2

THE CHAMWELL CENTRE CHARITY (A Company Llrnlt￿ by Guarantoo} CHAIR'S SUMMARY {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 During the 202412025 period the Board has slrenglhened the way it works. It has.. Undertaken a Board Skills Analysis and has clear succession pl8ns in place Appointed new Tnjstees wllh 'llved experience. and with a range of professional skills Appointed a Ch8Sr who now leads the newly created Finance and Aydll Sub Committee Oulsour¢ed the finance function to enhancg financial management and reporting Undèrtakèn further trainiThJ in Safeguarding and appointed a Board Member wlh extensive sknll in this area The 8oard has retained ils focus on deliverng the strategic plan developed In the prevlous plan per¢od. Dame Janel Trotter DBE, CVO Chair of TnJslees 22 July 2026 Page 3

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their annual report together with the audited financial statements of the Company for the year 1 September 2024 to 31 August 2025. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable Company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January 2019.

The Trustees have due regard to the Charity Governance Code and are aware of the latest update in 2025. We are in the course of building an advisory board to ensure we maintain equality, diversity and inclusion.

Objectives and activities

a. Our Vision

Our vision is to enhance the wellbeing of those with disability – how they feel, how they function on a personal and social level and how they feel about their lives as a whole.

b. Our Mission

Using hydrotherapy pool and specialist facilities, our mission is to be a Centre of excellence bringing belief and hope to lives affected by disability, particularly pupils of The Milestone School and SAND Academy Trust along with children, young people and adults throughout Gloucestershire.

c. Our Beliefs

We believe that with appropriate support, understanding and empowerment all individuals can achieve their full potential. Working with those with multiple additional needs and their carers we will strive to ensure, so far as we are able, that everyone who comes to the Centre has access to the right support, at the right time in the right setting.

Page 4

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

a. Hydrotherapy

Our hydrotherapy pool is reserved for registered users: children and adults with disabilities, additional needs, mobility challenges or long-term health conditions, together with their families and carers. The warm-water environment offers therapeutic benefits such as improved strength, balance, circulation and pain management, while also providing vital social interaction and respite for families.

Hydrotherapy registered user sessions provide 560 regular user spaces and 80 quiet session spaces each week during school holidays, and 246 regular user spaces and 22 quiet session spaces each week during term-time. Quiet sessions are specifically designed for people with autism, sensory aversion or anxiety, ensuring a calmer environment where they can benefit from the pool without overwhelming noise or crowding.

Private hire accounts for 1.0 hour per week in school holidays and 10.5 hours per week in term-time, including physiotherapy and specialist swim schools. These hires generate essential income to keep community sessions affordable and allow external professionals to deliver targeted rehabilitation or inclusive swim programmes in a fully accessible environment.

Individual swimming lessons add 16 places per week in term-time, with no lessons scheduled during school holidays. One-to-one and small-group lessons provide tailored instruction and water-safety skills for children and adults with additional needs who cannot access mainstream swimming lessons.

School provision totals approximately 30 hours per week in term-time, dedicated to Milestone School pupils. This embedded education programme supports pupils with complex needs by providing therapeutic exercise that promotes physical development, communication and sensory regulation during the school day.

Across both school term and holiday periods this equates to an average of 36 hours of pool use per week in school holidays and 58.5 hours per week in term-time.

These figures demonstrate the scale and significance of the pool’s impact—providing thousands of opportunities each year for people with disabilities, additional needs and their families or carers to access therapeutic waterbased activity that supports health, independence and inclusion.

Page 5

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance (continued)

b. Soft Play

The soft play is first and foremost a resource for children with disabilities and additional needs. During school hours in term-time (9 am to 3 pm) it is used daily by pupils of The Milestone Special Needs School, giving children with complex needs safe opportunities for physical activity, sensory exploration and social play as part of their education. The equipment supports motor development, balance and coordination while providing a fun and stimulating environment.

Outside school hours the soft play continues to prioritise inclusion. Dedicated sessions for children with disabilities and additional needs run for two hours every Saturday and Sunday and on every school-holiday day. These sessions are limited to a maximum of six children, creating a quieter, calmer environment where children with sensory sensitivities, autism or anxiety can play safely and confidently. Families often report that these sessions are the only public play opportunity their children can access comfortably.

In addition to the dedicated sessions, the soft play is open for general sessions for all children, both with and without disabilities and additional needs. These run every weekend from 10 am to 5 pm (with two of the seven hours each day reserved for SEND sessions), every school-holiday weekday during the same hours, and for two hours on Monday, Tuesday and Thursday evenings during term-time. Each one-hour general session accommodates up to ten children and allows families of all abilities to play together in an inclusive setting.

Across the year this schedule provides approximately 1,080 one-hour general sessions and around 340 dedicated sessions for children with disabilities and additional needs. Based on session capacities, this allows for up to around 12,800 potential child visits annually, excluding bank holidays. These figures represent the number of available child-spaces rather than individual children, as many families visit regularly. The dedicated sessions ensure that a significant proportion of this capacity is reserved for children with disabilities and additional needs, offering regular, structured opportunities for active play that promote physical development, confidence and social interaction in a safe and welcoming space.

Soft Play Usage Summary:

c. Café

The café which offers a modest range of food is increasingly well used by a range of users and is recognised as a community hub with able-bodied and people with disabilities and additional needs meeting for relaxation and play in an inclusive but diverse atmosphere.

During the holidays when the school is not using the Centre a wider range of activities and events are offered and families are enjoying the special events and the ability to spend prolonged periods of time using the full range of activities.

Page 6

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance (continued)

d. Notable achievements during the year under report

Page 7

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance (continued)

In relation to staff, we appointed Mrs Ria Heap at the beginning of the year as General Manager. She has brought skill, energy and lived experience of disability/additional needs to the role, stabilising the staffing structure. She has reviewed staff contracts, the Staff Handbook and the Centre Business Plan. We have found it difficult to recruit and retain finance staff, so the Board decided to outsource the finance function. This arrangement will be kept under review but is working well as the year ends.

The Trustees are grateful to SAND AT colleagues, staff and partners for their support during another challenging year. We look forward to working in the coming year to realise the potential of The Chamwell Centre Charity to serve better the needs of our special community.

Page 8

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Finance Review

a. Going concern

The financial position of the Charity, including monthly management accounts and cashflow forecasts are reviewed by the Finance Committee each month and reported to the Trustee board at each board meeting. At the start of each financial year an annual budget is proposed and agreed by the board. This budget includes a breakdown of the expenditure and income, with sub categorisation of the required earned and unearned income that we need to raise during the year.

Donations and funding represent just over one third of our annual income and as such we continue to seek funding and support from a range of funders. We have a pipeline of grant applications and events through which we look to raise the necessary funds to support our charitable and operational activities. Our relationship with Milestones School continues to cover the associated costs of that provision. In addition, the Charity receives rental income from SAND, reflecting their use of a designated area for administrative purposes. When required, the Trustees will consider and review any significant additional costs of capital works that may be necessary and may seek to raise specific funding for these as appropriate.

The Trustees remain up to date and are aware of the Charity’s performance and financial position and use this to determine the steps they ought to take whilst continuing to hold sufficient cash resources to meet its short term cashflow obligations.

There remains uncertainty over the timing of cash inflows relating to debts owed by the ultimate controlling party, SAND Academies Trust. Whilst communication between the two entities remains positive and both Boards remain committed to supporting each other, the Trustees acknowledge that there is a risk that SAND Academies Trust may face difficulty in meeting its obligations to the Charity within expected timeframes. The Trustees do not believe the debt to be irrecoverable but recognise that the timing of repayment is uncertain.

Whilst our partnership with SAND and its school, Milestones School, remains important to us, the Trustees must also plan prudently for the possibility that future purchasing arrangements may change. To ensure the Charity's long-term resilience, we are therefore reviewing a range of options that would allow us to remain viable and continue delivering high-quality services. This is a forward-looking exercise and reflects our duty to safeguard the Charity's future.

The Trustees have carefully considered these matters, including the recoverability of amounts owed by SAND Academies Trust and the potential impact of any change in the future relationship with SAND and Milestones School on the Charity's operations and income. Having done so, the Trustees believe that the Charity has adequate resources to continue in operational existence for the foreseeable future. The financial statements have been prepared on the going concern basis of accounting. Attention is drawn to the going concern note in the financial statements, which describes the material uncertainty identified by the Trustees in reaching this conclusion.

Page 9

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

b. Income

The total amount raised for the period was £529,687 (2024: £524,095).

c. Fundraising

The Trustees have concluded that Chamwell will always have a continuing need to raise funds from Trusts and Foundations. During the year under report a Fundraising Officer has been employed. Her initial task was to increase the Centre’s presence on social media and re-design the website. This was essential to attract more people to the Centre. This has produced increasing footfall and is likely to increase revenue. The next task is to attract funds from Trusts and Foundations, and this is seen as an increasingly urgent activity. We are grateful to those who have supported us and contributed funds during the year: their support has been crucial to our sustainability.

The Chamwell Centre Charity adopts the principles of the Funding Regulator Code of Practice and is cognisant of the Regulator’s complaints handling process. To date there are no complaints to report.

d. Expenditure

The total amount of expenditure (excluding depreciation and amortisation) in the year was £528,767 (2024: £515,750).

Overall, costs have been contained within budget, continuing to benefit from the skills and abilities of the Board of Trustees to monitor costs and react to changes in circumstances.

e. Fixed Assets

The Centre is fully operational and is open for use. The Centre is complex to operate given the complexity of running a hydrotherapy pool and associated therapeutic facilities.

Page 10

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

f. Funds

The excess of expenditure for the year was £922 (2024: £8,345) before depreciation and amortisation. The Charity has made significant inroads with regards to financial sustainability and this small operational surplus demonstrates the progress made to date, with the appointment of a professional fundraiser and operational cost savings we can reasonably expect this to further improve in the forthcoming financial year. At year-end total funds stand at £4,080,104 (2024: £4,223,525).

Designated funds, representing the fixed assets, makes up most of the closing fund position and amounts to £3,962,445 (2024: £4,061,620).

Restricted Funds carried forward is £19,459 (2024: £124,170) with these funds being carried forward for specific purposes or projects as detailed in Note 16. Unrestricted free reserves at year-end amounted to £98,200 (2024: £37,735).

g. Reserves Policy

The Charity maintains a reserves policy equivalent to three months’ forecast expenditure. The trustees consider this level appropriate: it is sufficient to provide financial resilience and ensure we can meet ongoing commitments, while not being so high as to restrict the funds available for charitable activities. The policy supports strategic planning and annual budgeting, and is reviewed each year.

During 2025/26, fundraising conditions have been more challenging than anticipated. Income from fundraising activities is currently at approximately 70% of expected levels, and although we remain confident in securing further income during the remainder of the year, the trustees consider it prudent to revise the overall income forecast at this stage. While this shortfall is disappointing, careful cost management, with several areas performing at or below budget has helped to mitigate the impact.

In light of rising core costs, including energy and other overheads, the Trustees have increased the reserves target from £90,000 in 2023/24 to £120,000 going forward. We recognise that achieving this level will take time. To support this objective, we are working with a fundraising specialist to aid us in identifying and securing larger, specialist and multi-year grants to support sustainability and increase the awareness and impact of the Charity.

Based on current forecasts, free reserves at 31 August 2026 are expected to be £81,600, reflecting the fundraising challenges noted above. We anticipate reaching the revised reserves target of £120,000 by 31 August 2027.

h. Our Plans for the Future

We are convinced that Chamwell has an important role to play in the local provision for children and young people and adults with disabilities and additional needs. Our new strategic focus has helped us to clarify purposes and roles and, in the plan period we will:

Page 11

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

During the coming year the Trustees will also:

Page 12

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Structure, governance and management

a. Constitution

Governing documents

The governing document is the Memorandum and Articles of Association.

The Chamwell Centre Charity was registered with the Charity Commission in England and Wales on 19 June 2015 (Registered Number 1162321). Registration of The Chamwell Centre Charity with Companies House, in England and Wales, took place on 17 July 2015, Company Number 09692163. The revised arrangement with SAND was registered on 18 July 2023, during the period under report the governing body was the Board of Trustees.

The Board, a body of volunteers, reviews its membership and skill mix to ensure it maintains the right mix of skills, competencies, community representation and EDI expertise. Currently the Board has significant experience across a range of professions to ensure it can transact its business efficiently.

The Board of Trustees is constituted and regulated in accordance with the governing document.

New members are elected based on the skills needed to complement the Trustee body, and their commitment to the charitable objectives of The Chamwell Centre Charity. Appointment is subject to satisfactory references and statutory checks. The Board of Trustees meets bi-monthly, determines the ongoing strategic direction of the Charity and regulates its administration and the management of its finances and assets.

b. Board of Trustees

During the year under report, the Board met bi-monthly and at each meeting reviewed the finances and operations of the Centre.

c. Insurance details

Directors Indemnity: the Trustees have ensured that the Charity is fully insured against all current potential risks including:

Employers Liability - £10m; Public and Products Liability - £5m; Charity Trustees Management Liability - £1m; Cyber Liability - £50k.

d. Recruitment and training of Trustees

New Trustees are recruited by personal recommendation, external references, and an interview with Board representatives, in accordance with Charity Commission guidance CC30. They are inducted in the workings of The Chamwell Centre Charity, including Trustee policies and procedures.

Members of the Board of Trustees attend trustee training and information courses to keep them informed of current issues in the sector and regulatory requirements. All are encouraged to remain up to date with the Charity Commission guidance on governance and trusteeship.

Page 13

THE CHAMWELL CENTRE CHARITY (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Structure, governance and management (continued)

e. Organisational structure and decision making

Members of the Board of Trustees meet six times a year. Individual Trustees who are members of subcommittees report formally to the Board.

Members of the Board of Trustees receive no remuneration or benefits from their trusteeship of the Charity.

Trustee meetings follow a prearranged agenda and minutes are recorded and reviewed.

All trustees are inducted in the Charity Commission guidance on trusteeship and good governance. The Charity is aware of the Charity Code of Governance and is working towards incorporation of the Code in its governance practice, using the Charity Code of Governance assessment tool.

Other volunteers have assisted with policy development, clerical activities, accounts, all-ability athletics coaching and fundraising.

f. Risk Management

The Board of Trustees is committed to protecting the safety and wellbeing of its staff, clients. Volunteers, visitors and Trust’s assets and reputation.

The Trust faces a number of risks and has, during the period under review, ensured that its vulnerable clients have the best conditions in which to operate. Staff are trained to ensure they comply with Health and Safety Regulations. The hydrotherapy pool is monitored periodically during the day to ensure it is appropriately heated and that the pool is chemically fit for purpose.

With regard to risk associated with Staff, an Induction programme has been introduced, and a new Employee Handbook was developed in-year: this is reviewed regularly.

The Board has, as noted above, particularly focused in-year on the long-term financial sustainability of the Trust and considered seriously the risks of not taking decisive action with regard to the Centre’s future. The governance changes in 2023 respond to this and indicate that the Trustees have taken identified risk very seriously. The Trustees have also taken fundraising as a continuing and key focus as the charity is never likely to earn sufficient funds on an annual basis to cover its running costs.

Regarding Cyber Security, including the risk of Third Parties breaching the website/internal records, the Trust works with Pearce IT and The Lines Group which are contracted to protect and support the Charity.

HR People Support is available and on-hand to assist with People issues along with a Trustee who is a HR professional.

The Charity also follows NCVO Guidance on Trusted Charity indicators covering all key risks areas. The key indicators are: -

Page 14

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Structure, governance and management (continued)

Developing a new risk register has been discussed by the Board and developing a comprehensive risk register will be a task for the next reporting period and mitigation arrangements will also be developed.

Information on fundraising practices

The fundraising efforts are now focused on the operational running costs of the Centre.

We have invested in technology including a customer relationship management tool to allow the team to get the best from the system.

During the year Chamwell employed its own part-time Fundraising Manager who has achieved a significant amount in terms of Chamwell’s work being recognised and supported in the local community.

The Chamwell Centre Charity adopts the principles of the Funding Regulator Code of Fundraising Practice, and we are cognisant of the regulator’s complaints handling process. To date there are no complaints to report.

We aim to be legal, open, honest and respectful – considering the needs of any possible donor who may be in a vulnerable circumstance or need extra care and support.

We have a Safeguarding Policy, ratified by the Board of Trustees, for the safe and professional management of children and vulnerable adults.

The Chair of Trustees and the General Manager lead on the fundraising strategy, and they are mindful of the Charity Commission’s guide to fundraising.

At the close of the 2024/2025 period the Trustees recognise that some longstanding donations will come to an end; these substantial donations have been appreciated and have helped to support the Charity and its beneficiaries during a turbulent period.

The task now is to focus more fully on ensuring the efficient and effective running of the Centre under our General Manager and her team and to increase fundraising capacity. These matters are actively under review as the new financial year begins.

Page 15

THE CHAMWELL CENTRE CHARrrY IA Company Llmltgd by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Stat•ment of Trustees. responslbllltles The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law r8quir8S th8 Trustees lo prepare financial statements for each financial . Under company18w, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair vigw of the slate of affairs of the Company and of its Incom1ng resources and application of resources. including its income and expenditure. for that period. In preparing th8S9 finan¢ial statements, the Trustees are required to.. select suitable accounting poli¢ie$ and then apply them conslslentl￿. observe tho methods and principles of the Charities SORP IFRS 1021.. make judgements and accounting estimates that are Tea50nable and prudent- state whether applicable UK Accounting Standards IFRS 1021 have bgen followed, subject to any material departures disdosed and explained in the finanrAal statements- prepare the financlal statements on the goSng concem basls unless It Is Inappropriate to presume that tho Company will continue in Lmjsiness. The Trustees are responsible for keèping adèquate accounting records that are sufficient to show and explaln the Companys transactions and disclose with reasonable accuracy at any lime the financial position of the Company and enable them lo ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safegltarding the assets of the Company and hence for taking reasonable steps for the evenlion and detection of fraud 8NI other irregularities. Dls¢losur• of Infomatlon to audltor Each of the persons who are Trustees at the lime when this Trusteos. Report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audlt Information of which the charitys auditor is unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit infomialion and to establish that the charitys auditor is aware of that information. Audltor The audltor, Crowe U.K. LLP, has indicated his willingness lo o)nlinue in office. The designated Trustees wrfl propose a motion reappointing the auditor al a nwting of the Trustees. Th18 report was approved by the Trustees on 22 July 2026 Signed on their behalf by. Dame Janet Trotter DBE, CVO Chair of Trustees Page 16

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHAMWELL CENTRE CHARITY

Opinion

We have audited the financial statements of The Chamwell Centre Charity (the 'charitable company') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 2.2 in the financial statements concerning the Charity’s ability to continue as a going concern. The Charity continues to face challenges with significant increases in operating costs with such pressures being especially acute given the complex and energy-intensive nature of running the Centre and its hydrotherapy facilities. There is also uncertainty over the timing of cash inflows relating to debts owed by the ultimate controlling party, SAND Academies Trust.

As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the charitable company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 17

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHAMWELL CENTRE CHARITY (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 18

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHAMWELL CENTRE CHARITY (CONTINUED)

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity and the group for fraud. The laws and regulations we considered in this context were General Data Protection Regulation and health and safety legislation.

Page 19

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHAMWELL CENTRE CHARITY (CONTINUED)

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of grant income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, reading minutes of meetings of those charged with governance and detailed testing of a sample of grants receivable.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Rebecca Crowther (Senior Statutory Auditor)

for and on behalf of Crowe U.K. LLP Statutory Auditor Fourth Floor St James House St James Square Cheltenham GL50 3PR

Date: 29 July 2026

Page 20

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025

Note
Income from:
Donations and grants
4
Charitable activities
5
Other trading activities
6
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
16
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
180,860
215,932
132,895
-
529,687
103,684
536,197
639,881
(110,194)
71,484
(38,710)
4,099,355
(38,710)
4,060,645		 Restricted
funds
2025
£
-
-
-
-
-
949
32,278
33,227
(33,227)
(71,484)
(104,711)
124,170
(104,711)
19,459		 Total
funds
2025
£
180,860
215,932
132,895
-
529,687
104,633
568,475
673,108
(143,421)
-
(143,421)
4,223,525
(143,421)
4,080,104		 Total
funds
2024
£
211,222
197,352
113,267
2,254
524,095
73,131
584,376
657,507
(133,412)
-
(133,412)
4,356,937
(133,412)
4,223,525

The notes on pages 24 to 42 form part of these financial statements.

Page 21

ThE CHAMWELL CENTRE CHARir (A Company Llmlted by Guarantèe) REGISTERED NUMBER.. 09692163 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Noto Flx•d assets Intangible assets Tangible assets Investments 4,591 3,982,445 13,440 4.061,620 12 13 3,967,036 4,075,062 Current assets Stocks Debtors 1,840 94.634 87,345 14 48,435 125.637 Cash at bank aThJ In hand 177,617 183.819 Current Ilabllltle$ Creditors.. amounts falllng due wilhln one year 15 (04,5491 f35.356) Net current assets 113.068 148.463 Total net asBets 4.080,104 4,223,525 Charlty funds Restricted fvnds Unrestricted fund$ 16 16 19,459 4,080,645 124.170 4.099.355 Total funds 4.080,104 4,223,525 The Trustees acknowledge thelr responsiblllties for complying with the requirements of the Act whh respect to acwunting records and preparation of financlal statements. The financial ststements have been preparad in accordance the prov*sions applicable lo entities subject to the small companies reglme. Thefin cial statements were approved and aulhorised for Issue bythe Trustees and signed on their beha￿ by.. Dame Janet Trotter DBE CVO Chair of Trustees Date.. 22 July 2026 The notes on pages 24 to 42 forni part of thase financial statements. Page 22

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Note
Cash flows from operating activities
Net cash provided by operating activities
18
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19
The notes on pages 24 to 42 form part of these financial statements		 2025
£
74,609
(36,317)
(36,317)
38,292
87,345
125,637		 2024
£
(52,499)
(29,238)
(29,238)
(81,737)
169,082
87,345

Page 23

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. General information

The Chamwell Centre Charity was incorporated in England and Wales as a company limited by guarantee (registered no. 09692163) and has no share capital. The Chamwell Centre Charity is also a registered charity with the Charity Commission, in England and Wales (registered no. 1162321).

The liability of members in the event of winding up is limited to an amount not exceeding £1 per member; the number of members as at 31 August 2025 was 7.

The Chamwell Centre Charity has a wholly owned subsidiary which has not been consolidated on the basis that it is dormant.

The registered and principal office is The Milestone School, Longford Lane, Gloucester, Gloucestershire, GL2 9EU.

2. Accounting policies

2.1 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 Companies Act 2006 and the Charities Act 2011.

The Chamwell Centre Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Page 24

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.2 Going concern

The financial statements have been prepared on the going concern basis of accounting. In reaching this conclusion, the Trustees have considered the Charity's financial position and, cash flow forecasts through to July 2027.

The Charity continues to face challenges, with significant increases in operating costs driven by cost of living pressures, rising energy prices, and higher employment costs, including Minimum Wage and National Insurance increases. These pressures are especially acute given the complex and energy intensive nature of running the Centre and its hydrotherapy facilities.

While costs are being tightly managed, the Charity remains reliant on donations and grant funding for over one third of its income, requiring continued fundraising efforts and the development of diversified income streams, which are inherently uncertain in terms of quantum and timing. Although a pipeline of grant applications and fundraising initiatives is in place, there can be no assurance that sufficient funds will be secured within the period of 12 months beyond the date of signing.

The Charity has outstanding debts owed by its ultimate controlling party, SAND Academies Trust. There is uncertainty over the timing of repayment of these balances. Whilst the Trustees have no reason to believe that the amounts are irrecoverable, and communication between the parties remains constructive, the Trustees acknowledge that SAND Academies Trust may face difficulty in meeting its obligations within expected timeframes. In addition, the future nature of the relationship between the Charity, SAND Academies Trust, and Milestones School is subject to change, which could affect the Charity's future income and activities.

The Trustees have reviewed a range of scenarios and are satisfied that, taking into account the measures available to them, including the review of alternative funding and operational arrangements, the Charity has sufficient resources to continue operating for the foreseeable future.

However, the Trustees acknowledge the material uncertainty which may cast significant doubt upon the Charity's ability to continue as a going concern. The Trustees are nonetheless satisfied that the going concern basis of preparation remains appropriate.

No adjustments have been made to the carrying values of assets and liabilities in these financial statements as a result of this uncertainty.

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 25

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised 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. Staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters.

Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity's operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

All expenditure is inclusive of irrecoverable VAT.

2.5 Intangible assets and amortisation

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Website development

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised.

Assets in the course of construction are included at cost. Depreciation on these assets is not charged until they are brought into use.

Page 26

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Long-term leasehold property - 2% - 5% Equipment - 20% - 33%

2.7 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 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 recognised at transaction value and subsequently measured at their settlement value.

Debtors

Other debtors and accrued income are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

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.

Liabilities and provisions

Liabilities are recognised 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.

2.10 Taxation

As a registered Charity, The Chamwell Centre Charity is entitled to tax exemptions on all of its income and gains, properly applied for its charitable purposes.

Page 27

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

2. Accounting policies (continued)

2.11 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 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 Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.13 Volunteers

Please see the Trustees Report for details of the role of our volunteers and the nature of their contribution.

3. Critical accounting estimates and areas of judgement

Preparation of the financial statements requires management to consider making any significant judgements and estimates where necessary. The items in the financial statement where these judgements and estimates have been made include:

Critical accounting estimates and assumptions:

Grant income is recognised in the Statement of Financial Activities when there is sufficient evidence to demonstrate that it is Probable, Measurable and that there is Entitlement.

Page 28

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

4. Income from donations and grants

Unrestricted
funds
2025
Restricted
funds
2025
£
£
Donations
60,860
-
Grants
120,000
-
180,860
-
Unrestricted
funds
2024
Restricted
funds
2024
£
£
Donations
27,624
31,000
Grants
90,000
62,598
117,624
93,598
Income from charitable activities
Unrestricted
funds
2025
£
Income from charitable activities - Accessible facilities including hydro-
therapy pool
215,932
Unrestricted
funds
2024
£
Income from charitable activities - Accessible facilities including hydro-
therapy pool
197,352		 Total
funds
2025
£
60,860
120,000
180,860
Total
funds
2024
£
58,624
152,598
211,222
Total
funds
2025
£
215,932
Total
funds
2024
£
197,352

5. Income from charitable activities

Page 29

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

6. Income from other trading activities

Unrestricted
funds
2025
£
Café
87,337
Courses & venue hire
36,350
Other income
9,208
132,895
Unrestricted
funds
2024
£
Café
64,368
Courses & venue hire
24,600
Other income
24,299
113,267		 Total
funds
2025
£
87,337
36,350
9,208
132,895
Total
funds
2024
£
64,368
24,600
24,299
113,267

Page 30

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7. Analysis of expenditure by activities

Accessible facilities including hydro-therapy pool
Accessible facilities including hydro-therapy pool		 Activities
undertaken
directly
2025
£
268,004
Activities
undertaken
directly
2024
£
257,239		 Support
costs
2025
£
300,471
Support
costs
2024
£
327,137		 Total
funds
2025
£
568,475
Total
funds
2024
£
584,376

Page 31

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation & Amortisation
Construction consultancy costs
Legal and professional
Pool facilities maintenance		 Total
funds
2025
£
75,634
144,341
344
4,230
43,455
268,004		 Total
funds
2024
£
70,091
141,757
167
2,342
42,882
257,239

Analysis of support costs

Staff costs
Travel and equipment
Accountancy fees
Legal and professional
Insurance
Bank charges and interest
General expenses
Chamwell website associated costs
Software support
Rates and water
Light and heat
Site management		 Total
funds
2025
£
135,841
3,204
37,059
2,400
4,998
190
10,284
1,697
10,108
37,744
42,030
14,916
300,471		 Total
funds
2024
£
150,938
4,035
18,126
466
4,803
566
45,269
1,489
8,898
28,346
48,582
15,619
327,137

During the year ended 31 August 2025, the Charity incurred the following Governance costs: Auditor's fees £9,650 (2024: £8,995).

Page 32

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8. Auditor's remuneration

2025 2024
£ £
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts 7,300 7,395
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above 2,350 1,600

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
259,809
17,341
3,551
280,701		 2024
£
248,400
13,451
3,187
265,038

During the year there were no termination payments made included in Wages & Salaries above (2024: £4,125) .

The average number of persons employed by the Company during the year was as follows:

Administration
Café
Lifeguards
Aquatherapy		 2025
No.
6
5
5
5
21		 2024
No.
5
3
5
4
17

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel received remuneration in the year totalling £56,596 (2024: £60,335) . Key management personnel includes Centre Manager & Financial Controller.

Page 33

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL) .

11. Intangible assets

Cost
At 1 September 2024
At 31 August 2025
Amortisation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Website
development
£
44,245
44,245
30,805
8,849
39,654
4,591
13,440

Page 34

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

12. Tangible fixed assets

Cost
At 1 September 2024
Additions
At 31 August 2025
Depreciation
At 1 September 2024
Charge for the year
At 31 August 2025
Net book value
At 31 August 2025
At 31 August 2024		 Long-term
leasehold
property
£
4,391,109
27,160
4,418,269
395,892
95,349
491,241
3,927,028
3,995,217		 Equipment
£
194,717
132
194,849
133,568
34,967
168,535
26,314
61,149		 Fixtures and
fittings
£
16,856
9,025
25,881
11,602
5,176
16,778
9,103
5,254		 Total
£
4,602,682
36,317
4,638,999
541,062
135,492
676,554
3,962,445
4,061,620

13. Fixed asset investments

Investments
in
subsidiary
companies
£
At 1 September 2024 2
Disposals (2)

Chamwell Development and Trading Limited, a dormant subsidiary undertaking of the Company, was dissolved on 22 October 2024 and as such the investment has been disposed of leaving an investment value of £nil at 31 August 2025.

Page 35

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14. Debtors

Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income		 2025
£
11,549
32,985
3,901
48,435		 2024
£
8,175
32,803
53,656
94,634

15. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals		 2025
£
12,485
15,476
11,003
1,501
24,084
64,549		 2024
£
11,704
4,318
6,309
768
12,257
35,356

Page 36

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

16. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Designated Funds
General funds
General Fund
Total Unrestricted funds
Restricted funds
Pied Piper Appeal
Thomas Wall Trust
Gloucestershire Community
Foundation
The Summerfield Charitable
Trust
St James's Place
The Sedbury Trust
Janet Trotter
The Barnwood Trust
Total of funds		 Balance at 1
September
2024
£
4,061,620
37,735
4,099,355
25,000
949
13,771
5,000
30,352
17,606
5,000
26,492
124,170
4,223,525		 Income
£
-
529,687
529,687
-
-
-
-
-
-
-
-
-
529,687		 Expenditure
£
(135,492)
(504,389)
(639,881)
(786)
(949)
-
(5,000)
-
-
-
(26,492)
(33,227)
(673,108)		 Transfers
in/out
£
36,317
35,167
71,484
(18,526)
-
-
-
(30,352)
(17,606)
(5,000)
-
(71,484)
-		 Balance at
31 August
2025
£
3,962,445
98,200
4,060,645
5,688
-
13,771
-
-
-
-
-
19,459
4,080,104

Page 37

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

16. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Designated Funds
General funds
General Fund
Total Unrestricted funds
Restricted funds
Tewkesbury Borough Council
Pied Piper Playdays
Gloucestershire Association for
Disability
Thomas Wall Trust
Midcounties Co-op
Active Gloucestershire
Gloucestershire Community
Foundation
The National Lottery
The Summerfield Charitable
Trust
The National Lottery Community
Fund
St James's Place
The Sedbury Trust
Janet Trotter
Sense
The Barnwood Trust
Total of funds		 Balance at
1 September
2023
£
4,165,290
74,353
4,239,643
180
-
470
5,000
872
1,756
20,000
3,198
-
-
19,824
-
-
120
65,874
117,294
4,356,937		 Income
£
-
430,497
430,497
-
25,000
-
-
-
-
-
-
5,000
19,992
20,000
17,606
6,000
-
-
93,598
524,095		 Expenditure
£
(132,908)
(437,877)
(570,785)
(180)
-
(470)
(4,051)
(872)
(1,756)
(6,229)
(3,198)
-
(19,992)
(9,472)
-
(1,000)
(120)
(39,382)
(86,722)
(657,507)		 Transfers
in/out
£
29,238
(29,238)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 August
2024
£
4,061,620
37,735
4,099,355
-
25,000
-
949
-
-
13,771
-
5,000
-
30,352
17,606
5,000
-
26,492
124,170
4,223,525

Page 38

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

16. Statement of funds (continued)

Purpose of designated funds:

Designated funds represent fixed assets, which consists of The Chamwell Centre and all additional components. The costs associated with fixed asset additions are recorded as transfers into the designated fund.

Purpose of restricted funds:

Page 39

(A Company Limited by Guarantee)

THE CHAMWELL CENTRE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
3,962,445
Intangible fixed assets
4,591
Current assets
158,158
Creditors due within one year
(64,549)
Total
4,060,645		 Restricted
funds
2025
£
-
-
19,459
-
19,459		 Total
funds
2025
£
3,962,445
4,591
177,617
(64,549)
4,080,104

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
4,061,620
13,440
2
59,649
(35,356)
4,099,355		 Restricted
funds
2024
£
-
-
-
124,170
-
124,170		 Total
funds
2024
£
4,061,620
13,440
2
183,819
(35,356)
4,223,525

Page 40

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation and amortisation charges
Increase in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
19.
Analysis of cash and cash equivalents
Cash in hand
20.
Analysis of changes in net debt		 2025
£
(143,421)
144,343
(1,705)
46,199
29,193
74,609
2025
£
125,637		 2024
£
(133,412)
141,757
(1,840)
(50,377)
(8,627)
(52,499)
2024
£
87,345
At 1
September At 31
2024 Cash flows August 2025
£ £ £
Cash at bank and in hand 87,345 38,292 125,637

Page 41

THE CHAMWELL CENTRE CHARITY

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

21. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £3,551 (2024: £3,187) . The balance payable to the fund at the balance sheet date totalled £1,369 (2024: £748) and is included in creditors.

22. Operating lease commitments

At 31 August 2025 the Company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
1,366
341
1,707		 2024
£
1,829
2,359
4,188

23. Related party transactions

The Charity has related party transactions with the ultimate controlling party, SAND Academies Trust.

The income generated in the year through hire of facilities was £110,358; with an amount paid to the Trust for recharges of costs amounting to £37,472.

The amount included in debtors at year end as money due from the Trust was £32,985 (2024: £32,803) , and the amount included in creditors at year end as money due to the Trust was £15,476 (2024: £4,318) .

24. Controlling party

SAND Academies Trust, incorporated in England and Wales, as a company limited by guarantee (company number 11968610) and an exempt charity, is regarded by the Trustees as being the charity's ultimate parent company.

This is by virtue of SAND Academies Trust acquiring the assets and liabilities for £Nil consideration, and by virtue of common control of the Trustees.

SAND Academies Trust consolidated financial accounts are available for public inspection on the Companies House website.

Page 42