THE CIIEI AM FOUNDATION (A Cliaritable Ineorporated Orgthnisation) ANNUAL REI PORT AND filNANCIAL STATEMENTS For tlie year ended 31 AUGUST 2022 Charity Regisiralion No. 1177913 THE CIIEI AM FOUNDATION (A Cliaritable Ineorporated Organlsation) ANNUAL REI PORT AND FINANCIAL STATEMENTS For the yeAr ended 31 AUGUST 2022 Charity Regisiralion No. 1177913 THE CHEAM FOUNDATION YEAR ENDED 31 AUGiJST 2022 TRUSTEI ES AND DIRECTORS Thernembers of theBoard of Trnstees listed beloware, forth¢purp05e5 Qfcharity law,Trustees of the Fourtdtttion. All Trngtees, unless otherwise stated, served throughou¢ th¢ year and. at tlie date of signing this report are: Mrs N Bearn)all Mrs E Dawson Mrs C Depla Mr C Eadie (Cliairperson) Mrs A May Mr J Moore Mrs T Reeve Mrs A Sugden Mrs F B2rratt-Campb¢ll TTU$tee meetings ar¢ also attended by the following School staff.. Mrs V EdgiAgton- Development Director. Cheam School Mr W T Phelps- H¢admasler, Cheam Scliool Mr L Jenkins- Dire¢tor of Finance & Operations, Cheam School SECRETARY AND ofiFICER OF THE CHEAM FOUNDATION Victoria Edgington REGISTEI RED OFFICE Cheam School Hcadlcy Newbury Berkshire RG19 8LD PROFESSIONAL ADVISORS Bankers: National Wesiminstw Bat]k PIC 30 Market Pla¢¢ Newbury. Berk8hire. RG14 5AJ Solicitors.. Irwin Mit¢h¢ll LLP Mer¢an¢ilc House 18 London Road Newbury, Berkshire. RG14 IJX The Twstees of The Cheam Foundation PTesent their ar￿Ual report and flljancial statements for the year ended 31 August 2022 and confm ihat they comply with the requiremcnts of thc Charities Act 2011, as amended by Chari¢ies A¢t 2011, the Charitie5 SORP (FRS 10218nd the Con8tiÉution of The Chearn Foundation (Governing Do¢ument). THE CHEAM FOUNDATION YEAR EF4DED 31 AUGUST 2022 BACKGRoufiD Af4D CONSTITtrrioN The Cheam Foundation is a Qharity that exists to supportpresent and future8en¢rations ofpupils atcheatn School. It was established in 2018 by Governors. staff and parents of the Sehool. The Cheam Foundation was iticory)orat¢d on I l April 2018 as a Charitable Incoryorat¢d Organisation r¢gisEer¢d with tlie Charity Commissxon (Registralion Number 1177913). AllVIS AND OBJECTIVES The Cheam Foundation exists to ensure continuitig investment iti thc school's focilitieg and to provide vital funding for lrfe-changing, means tested BursaTieb for children from low-income families. The Cheam Foundation helps the school to rcalise its ambitions and make a real diff¢r¢n¢e for gcnerations to come. All funds raised ar¢ ring fenccd and k¢pt separate from main school finan¢e and The Chcam Founda¢ion Jcts as a vehicle for ¢oll¢¢ling. lioldinglinvesting and dispensin¥ sums don41ed for the bcnefit of the school. ORGANISATION AND MANAGEMENT There is an ind¢penden¢ body of T￿st¢eS comprised of Governors, purenls and past parents. The TTUStees musl hold at least 3 mee¢iogs per year. Chcain School liave been delegated responsibility of the op¢rations of Tlie Cheam Foundation by die TTUSte¢s but are not remunerated by The Cheam Foundation. RISK MANAGEMENT Trustees are aware of tlieir responsibility to manage risk. Strat¢gi¢s used to ameliorate and minimise risk or¢,. Provision ofa clear invesin)ttn¢ strgiegy. Appointmcnt of an investment advisor and meetin8 personally with the advisor once a year. Proper authorisalion of eXpendI￿re. Annual audit. AcfivITIES AND FllYANCIAL REVIEW Th¢ Cheam Foundution ho5 had a positive year and has made a posi(ive contribution towardy the school's life- ¢hanging Bursary progranllne. In addition to the gifts and pled8e$ received, the Foundation increased the number of people who support it5 work by attending events, makitlg individual donations and makj'ng provision for the Foundation in their Wills. The primary tocus during 2021-2022 has been to raise mon¢y for The Cheam rounda¢ion Bursary Fund. in order to enable more children from low~inc0￿C families to attend the school. During the ye&r gross income was £157,263 and total net income was £67.182. During tlie year. The Cheam Foundation n)ade grants (from income) of £52.403 direetly to The Ch¢am Srhool Edu¢ational I'tust, by way of payment for school fees for three Bursary reolpient Children. The expen8es of The Cheam Foundation are met by the school. PLANS fioR THE FUTt)RE The Cheam Foundation plans to raise ￿rtd& to provide life-changing Bursarics for children from low-income baekgrourtdi, as well as futtdrdise for Capital Projccts approvcd by thc Headmaster and Governors which are intended to extend t]ie facllities at the school. THE CHEAM FOUf+lDATION YEAR ENDED 31 AUGUST 2022 RELATED PARTY TRANSACTIONS AND CONNEI CTED ENTITIEI S The Cheam Foundation salaries and opera¢ional wsts were funded by Cheam School. RESERVES The purpose of The Cheam Foundation is to SUPPOrt the school by raising fUl￿S for capital projects and bursaries noted above. Its operational costs are met by Clieam School. In addition to the generdl discrelion8ry fund, various sub funds have been set up for specific projccts, forexample The Bursary Fund. Ln tliis way the Tn￿te¢S nièke sure that donations are applied for the purpose for wl?ich they were donated. STATEMEf4T OF TRUS'I'LES RESPONSIBILITIES The Trnstees are responsible for preparing the Trust￿,$ Artnu81 R¢port atld the occounL8 (financial slatemcnts) in accordance with A¢counting and Rcporting by Chariiies: Statement of Recotnmcndcd Practice applicablc to charities preparing their ac¢ount$ in a¢¢ordan¢e with tl)e Finoncial Rcporting Standard for Smaller Enti¢i¢s published on 16 July 2014, the Finan¢ial Reporting Standard for Smallcr Entitics IFRSSEI and the Charities Act 2011 and UK Generdlly Ac¢ept¢il Praoli¢e as it hpplies from l January 2015. I]¥DEpEf4DEI NT EXAMINATION AS The Cheam Foundaiion had o gross income of £157,263 for the year, the Charity is below the audi¢ dwcthold and therefore eligible for ind¢p¢nd¢nt exomination. Approved by the Board of TNstees on 19111 May 2023 Hnd signed on theirbehalf by., MR C EADIE Chairnian of Tru8tce8 THE CHEI AM Fouf4DATION YEAR ENDED 3] AUGUST 2022 RECEIPTS AND PAYMEf4TS ACCOUTITS Umrestrieted Fullds Restricted funds Events fuDds Tottsl funds 2022 Receipts: 44.820 112.443 157.263 Sub totul 44.820 112,443 157.263 Asset and Investm¢nl S81e$: Sub totnl Total recelpt8 44,820 112,443 1SY,263 Payments: Bank ¢harge5, school Fees and eveiit oosts Sub total 52,464 37.617 90.081 52.464 37,017 90,081 Asset and Inve¥tment Purchases Sub total TOTAL PAYMEI N'TS 52.464 37,017 90,081 NET OF RECEIPTSI (PAYMEI NTS) C#sh funds last year end £82J38 -7.644 74.826 67.182 CASH FiJNDS THIS YEAR END £74,694 £74,826 £149,520 ThE CHEAM Fouf4DATION YEI AR ENDED 31 AUGUST 2022 sTATE[￿ENT OF ASSETS & LIABILITIES AT THE END OF TEtE PERIOD Unrestrieted Fllndy Re8tritted fund$ Ei ndowment funds Casb funds at 31 August 2022: Principal Foundation Bank Account balan¢¢ Events Foundation Bank A¢¢ount ba12n¢¢ 74.694 74.826 Total eash funds 149,520 Unrc5trlcted bunds Restrlcted funds Endoivment funds Otlier Monetary Assets: Investment A$9et$ Fund to wliicli asset belongs Cost Cutrent value (optional) Asset retnlned for the Ch8rlty'$ own use Fund to wliich C9St ¢sset b¢longs Curr¢nt valu¢ {optional) Llnbllltffies Fund to which Amount due liability belongs (optional) Current value (optional) t> >o£w uc (0￿& +c offj Ltrl J +c oc Hc CL C O VJ a ij >uz WL ci gi n J Z L L) TO 85900 £ag£9500 >o£w WLL ij o uc c+ c* ij o c IH C L OIL Ll > u i 4• r* * 4t C i ij c L ILrt L L L TO Sfr900 ZZ6S9500 CHARITY COMMISSION FOR ENGLAND AND WALES Receipts and payments accounts CC16a For the period from To Section A Receipts and payments Unyestrfcied funds ¢•th* n•a¥•st Restri¢ted funds Endowrnont funds Totsl funds L•$t year toth• rLHT•St£ tgth• n•4F•St£ t• th• nwr*st£ Al Reeelpts Sub total(Gross Income forAR 167.263 167,263 2 A55Qt and Inve51m•nt Sales, (see table). Sub total 167,263 107,263 A3 Poym*nts Sub tota 90.DBi 90.081 Assgt and nY￿tment pur¢ha￿s, Ist• t*bl•} Sub total 80.084 90,081 Net of re¢elpts/{paymentsJ A6 Transfers betsveen funds A6 Cash funds last year end Cashfunds this year en 67,182 $7.182 82.338 149,620 82,228 149,520 Section B Statement of assets and liabilities at the end of the period, Unrestrietsd funds Restricted funds EndO￿nent lunds to n•ar•5t£ Catefjories Dotails n•4Teste B1 Cgsh funds rotal cash fiinds 149,520 (lyceb￿￿9w￿￿*￿¥andPAYrneTr1S 115)) Unrestri¢ted funds Restrictèd funds Endowmènt funds Detai15 to n•Ar•ste n•Arns*e tts neaf•St£ Del4lls b•1• ostltytboml Curmnt valu• 53 Inv•stment assgts Fundtowhlch 490rt Cès¢ l•pWona ¢urr•n¢v￿u• ona Dtstalls B4 Ass•ts r•tsln•d ftlr the oharity's own us• t•whleh Am•untdu• •nAI Dètalls BS Llabllltl•s Stgned by one ortsyo truste8s on bghaw ol all the truste&s Slgnalure PrintName Dale of approval CHRISTOPHER EADIE 1916123 ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees** Charity Name The Cheam Foundation **On accounts for the year** 31[st] August 2022 **Charity no** 1177913 **ended (if any) Set out on pages** 1 – 6 I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/08/2022. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** I have completed my examination. I confirm that no material matters have **examiner's statement** come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning 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 order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ **Date:** 29/6/2022 **Signed: Name:** ROBERT PERKINS **Relevant professional** CHARTERED ACCOUNTANT (ICAS) **qualification(s) or body (if any): Address:** SPRINGVALE **Oct 2018** 1 **IER** BREWERY COMMON ## MORTIMER BERKSHIRE RG7 3JE ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . **Oct 2018** 2 **IER**