THE CHEAM FOUNDATION (A Charitable Incorporated Organisation)
ANNUAL REPORT
AND FINANCIAL STATEMENTS
For the year ended 31 AUGUST 2025
Charity Registration No. 1177913
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
TRUSTEES AND DIRECTORS
The members of the Board of Trustees listed below are, for the purposes of charity law, Trustees of the Foundation.
All Trustees, unless otherwise stated, served during the year and, at the date of signing this report are:
Mr C Chipchase (Chairman) Mrs N Bearman Mrs E Halford Mrs T Reeve Mrs J Sheehan Mrs Y Sum
Mrs A Sugden resigned as a Trustee in June 2024.
Trustee meetings are also attended by the following School staff:
Mrs V Edgington – Development Director, Cheam School Mr N Milbank - Headmaster, Cheam School Mr L Jenkins – Director of Finance And Operations, Cheam School
SECRETARY AND OFFICER OF THE CHEAM FOUNDATION
Victoria Edgington
REGISTERED OFFICE
Cheam School Headley Newbury Berkshire RG19 8LD
PROFESSIONAL ADVISORS
Bankers: National Westminster Bank Plc 30 Market Place Newbury, Berkshire, RG14 5AJ Solicitors: Irwin Mitchell LLP Mercantile House 18 London Road Newbury, Berkshire, RG14 1JX
The Trustees of The Cheam Foundation present their Annual Report and Financial Statements for the year ended 31 August 2025 and confirm that they comply with the requirements of the Charities Act 2011, as amended by Charities Act 2011, the Charities SORP (FRS 102) and the Constitution of The Cheam Foundation (Governing Document).
2
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
BACKGROUND AND CONSTITUTION
The Cheam Foundation is a charity that exists to support present and future generations of pupils at Cheam School. It was established in 2018 by Governors, staff and parents of Cheam School.
The Cheam Foundation was incorporated on 11[th] April 2018 as a Charitable Incorporated Organisation registered with the Charity Commission (Registration Number 1177913).
AIMS AND OBJECTIVES
The Cheam Foundation exists to ensure continuing investment in the school’s facilities and to provide vital funding for life-changing, means tested Bursaries for children from low-income families. The Cheam Foundation helps the school to realise its ambitions and make a real difference for generations to come.
All funds raised are ring fenced and kept separate from main school finance and The Cheam Foundation acts as a vehicle for collecting, holding/investing and dispensing sums donated for the benefit of the school.
ORGANISATION AND MANAGEMENT
There is an independent body of Trustees comprised of Governors, current parents, past parents and alumni of the school. The Trustees must hold at least 3 meetings per year. Cheam School have been delegated responsibility of the operations of The Cheam Foundation by the Trustees but are not remunerated by The Cheam Foundation.
RISK MANAGEMENT
Trustees are aware of their responsibility to manage risk. Strategies used to ameliorate and minimise risk are:
-
Proper authorisation of expenditure.
-
Annual audit.
ACTIVITIES AND FINANCIAL REVIEW
The Cheam Foundation has had a positive year and made a valued contribution towards the school. At the Headmaster and school’s specific request, the Cheam Foundation’s primary focus for 2024/25 has been to fundraise for projects which bring educational benefit to the school’s current and future pupils, as well as continuing to fundraise for life-changing bursaries. The Cheam Foundation Bursary Fund is an ongoing appeal in order to enable more children from low-income families to attend the school. The Foundation is also responsible for building and managing a long-lasting alumni community, to support future giving. Over the year, The Cheam Foundation increased the number of people in contact with, and engaged, by The Cheam Foundation, held parent and alumni events, and secured leadership gifts.
During the year, The Cheam Foundation’s gross income was £176,738.
During the year, The Cheam Foundation made grants (from income) of £67,062 directly to The Cheam School Educational Trust, by way of payment to the school for school fees for The Cheam Foundation Bursary recipient children. The Cheam Foundation also made a payment of £12,500 to The Cheam School Educational Trust, in order to fund a new Pre-Prep Music facility.
PLANS FOR THE FUTURE
The Cheam Foundation plans to fundraise for certain capital projects which legitimately further the educational aims of the School, as well as supporting the provision of bursarial support to the parents/guardians of children in the form of a discount on all or part of the tuition and other School fees payable, via life-changing Bursaries for children from low-income backgrounds.
3
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
RELATED PARTY TRANSACTIONS AND CONNECTED ENTITIES
The Cheam Foundation salary, operational costs and expenses were funded by Cheam School.
RESERVES
The purpose of The Cheam Foundation is to support the school by raising funds for capital projects and bursaries as noted above. Its operational costs, and the Development Director’s salary, are met by Cheam School.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees are responsible for preparing the Trustee’s Annual Report and the accounts (Financial Statements) in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (FRSSE) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
INDEPENDENT EXAMINATION
As The Cheam Foundation had a gross income of £176,738 for the year, the charity is below the audit threshold and therefore eligible for independent examination.
Approved by the Board of Trustees on 31[st] May 2025 and signed on their behalf by:
MR C CHIPCHASE Chairman of Trustees
4
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
RECEIPTS AND PAYMENTS ACCOUNTS
| Unrestricted | Restricted | Events | Total funds | |
|---|---|---|---|---|
| Funds | funds | funds | 2025 | |
| £ | £ | £ | £ | |
| Receipts: | 57,024 | - | 119,714 | 176,738 |
| -------- | ------- | ------- | ------- | |
| Sub total | 57,024 | - | 119,714 | 176,738 |
| -------- | ------- | ------- | ------- | |
| Asset and | ||||
| Investment | ||||
| Sales: | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| Sub total | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| Total receipts | 57,024 | 119,714 | 176,738 | |
| Payments: | ||||
| Bank charges, | 89,069 | - | 28,019 | 117,088 |
| school payments | ||||
| and event costs | ------- | ------- | ------- | ------- |
| Sub total | 89,069 | - | 28,019 | 117,088 |
| ------- | ------- | ------- | ------- | |
| Asset and | ||||
| Investment | ||||
| Purchases | ||||
| ------- | ------- | ------- | ------- | |
| Sub total | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| TOTAL | ------- | ------- | ------- | ------- |
| PAYMENTS | 89,069 | - | 28,019 | 117,088 |
| ------- | ------- | ------- | ------- | |
| NET OF | -------- | ------- | ------- | -------- |
| RECEIPTS/ | -32,045 | 91,695 | 59,650 | |
| (PAYMENTS) | -------- | ------- | ------- | -------- |
| Cash funds last year end | £61,190 | - | £88,193 | £149,383 |
| CASH FUNDS THIS | -------- | ------- | ------- | -------- |
| YEAR END | £29,145 | - | £179,888 | £209,033 |
| -------- | ------- | ------- | -------- |
5
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
STATEMENT OF ASSETS & LIABILITIES AT THE END OF THE PERIOD
| Unrestricted | Restricted | Endowment | |
|---|---|---|---|
| Funds | funds | funds | |
| £ | £ | £ | |
| Cash funds at 31 August 2025: | |||
| Principal Foundation Bank Account balance | 29,145 | - | - |
| Events Foundation Bank Account balance | 179,888 | ||
| ------- | |||
| Total cash funds | £209,033 | - | - |
| -------- | |||
| Unrestricted | Restricted | Endowment | |
| Funds | funds | funds | |
| £ | £ | £ | |
| Other | |||
| Monetary | - | - | - |
| Assets: | |||
| Investment | Fund to which | Cost | Current value |
| Assets | asset belongs | (optional) | |
| - | - | - | |
| Asset retained for the | Fund to which | Cost | Current value |
| Charity’s own use | asset belongs | (optional) | |
| - | - | - | |
| Liabilities | Fund to which | Amount due | Current value |
| liability belongs | (optional) | (optional) | |
| - | - | - |
6
THE CHEAM FOUNDATION (A Charitable Incorporated Organisation)
ANNUAL REPORT
AND FINANCIAL STATEMENTS
For the year ended 31 AUGUST 2025
Charity Registration No. 1177913
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
TRUSTEES AND DIRECTORS
The members of the Board of Trustees listed below are, for the purposes of charity law, Trustees of the Foundation.
All Trustees, unless otherwise stated, served during the year and, at the date of signing this report are:
Mr C Chipchase (Chairman) Mrs N Bearman Mrs E Halford Mrs T Reeve Mrs J Sheehan Mrs Y Sum
Mrs A Sugden resigned as a Trustee in June 2024.
Trustee meetings are also attended by the following School staff:
Mrs V Edgington – Development Director, Cheam School Mr N Milbank - Headmaster, Cheam School Mr L Jenkins – Director of Finance And Operations, Cheam School
SECRETARY AND OFFICER OF THE CHEAM FOUNDATION
Victoria Edgington
REGISTERED OFFICE
Cheam School Headley Newbury Berkshire RG19 8LD
PROFESSIONAL ADVISORS
Bankers: National Westminster Bank Plc 30 Market Place Newbury, Berkshire, RG14 5AJ Solicitors: Irwin Mitchell LLP Mercantile House 18 London Road Newbury, Berkshire, RG14 1JX
The Trustees of The Cheam Foundation present their Annual Report and Financial Statements for the year ended 31 August 2025 and confirm that they comply with the requirements of the Charities Act 2011, as amended by Charities Act 2011, the Charities SORP (FRS 102) and the Constitution of The Cheam Foundation (Governing Document).
2
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
BACKGROUND AND CONSTITUTION
The Cheam Foundation is a charity that exists to support present and future generations of pupils at Cheam School. It was established in 2018 by Governors, staff and parents of Cheam School.
The Cheam Foundation was incorporated on 11[th] April 2018 as a Charitable Incorporated Organisation registered with the Charity Commission (Registration Number 1177913).
AIMS AND OBJECTIVES
The Cheam Foundation exists to ensure continuing investment in the school’s facilities and to provide vital funding for life-changing, means tested Bursaries for children from low-income families. The Cheam Foundation helps the school to realise its ambitions and make a real difference for generations to come.
All funds raised are ring fenced and kept separate from main school finance and The Cheam Foundation acts as a vehicle for collecting, holding/investing and dispensing sums donated for the benefit of the school.
ORGANISATION AND MANAGEMENT
There is an independent body of Trustees comprised of Governors, current parents, past parents and alumni of the school. The Trustees must hold at least 3 meetings per year. Cheam School have been delegated responsibility of the operations of The Cheam Foundation by the Trustees but are not remunerated by The Cheam Foundation.
RISK MANAGEMENT
Trustees are aware of their responsibility to manage risk. Strategies used to ameliorate and minimise risk are:
-
Proper authorisation of expenditure.
-
Annual audit.
ACTIVITIES AND FINANCIAL REVIEW
The Cheam Foundation has had a positive year and made a valued contribution towards the school. At the Headmaster and school’s specific request, the Cheam Foundation’s primary focus for 2024/25 has been to fundraise for projects which bring educational benefit to the school’s current and future pupils, as well as continuing to fundraise for life-changing bursaries. The Cheam Foundation Bursary Fund is an ongoing appeal in order to enable more children from low-income families to attend the school. The Foundation is also responsible for building and managing a long-lasting alumni community, to support future giving. Over the year, The Cheam Foundation increased the number of people in contact with, and engaged, by The Cheam Foundation, held parent and alumni events, and secured leadership gifts.
During the year, The Cheam Foundation’s gross income was £176,738.
During the year, The Cheam Foundation made grants (from income) of £67,062 directly to The Cheam School Educational Trust, by way of payment to the school for school fees for The Cheam Foundation Bursary recipient children. The Cheam Foundation also made a payment of £12,500 to The Cheam School Educational Trust, in order to fund a new Pre-Prep Music facility.
PLANS FOR THE FUTURE
The Cheam Foundation plans to fundraise for certain capital projects which legitimately further the educational aims of the School, as well as supporting the provision of bursarial support to the parents/guardians of children in the form of a discount on all or part of the tuition and other School fees payable, via life-changing Bursaries for children from low-income backgrounds.
3
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
RELATED PARTY TRANSACTIONS AND CONNECTED ENTITIES
The Cheam Foundation salary, operational costs and expenses were funded by Cheam School.
RESERVES
The purpose of The Cheam Foundation is to support the school by raising funds for capital projects and bursaries as noted above. Its operational costs, and the Development Director’s salary, are met by Cheam School.
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees are responsible for preparing the Trustee’s Annual Report and the accounts (Financial Statements) in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (FRSSE) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
INDEPENDENT EXAMINATION
As The Cheam Foundation had a gross income of £176,738 for the year, the charity is below the audit threshold and therefore eligible for independent examination.
Approved by the Board of Trustees on 31[st] May 2025 and signed on their behalf by:
MR C CHIPCHASE Chairman of Trustees
4
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
RECEIPTS AND PAYMENTS ACCOUNTS
| Unrestricted | Restricted | Events | Total funds | |
|---|---|---|---|---|
| Funds | funds | funds | 2025 | |
| £ | £ | £ | £ | |
| Receipts: | 57,024 | - | 119,714 | 176,738 |
| -------- | ------- | ------- | ------- | |
| Sub total | 57,024 | - | 119,714 | 176,738 |
| -------- | ------- | ------- | ------- | |
| Asset and | ||||
| Investment | ||||
| Sales: | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| Sub total | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| Total receipts | 57,024 | 119,714 | 176,738 | |
| Payments: | ||||
| Bank charges, | 89,069 | - | 28,019 | 117,088 |
| school payments | ||||
| and event costs | ------- | ------- | ------- | ------- |
| Sub total | 89,069 | - | 28,019 | 117,088 |
| ------- | ------- | ------- | ------- | |
| Asset and | ||||
| Investment | ||||
| Purchases | ||||
| ------- | ------- | ------- | ------- | |
| Sub total | - | - | - | - |
| ------- | ------- | ------- | ------- | |
| TOTAL | ------- | ------- | ------- | ------- |
| PAYMENTS | 89,069 | - | 28,019 | 117,088 |
| ------- | ------- | ------- | ------- | |
| NET OF | -------- | ------- | ------- | -------- |
| RECEIPTS/ | -32,045 | 91,695 | 59,650 | |
| (PAYMENTS) | -------- | ------- | ------- | -------- |
| Cash funds last year end | £61,190 | - | £88,193 | £149,383 |
| CASH FUNDS THIS | -------- | ------- | ------- | -------- |
| YEAR END | £29,145 | - | £179,888 | £209,033 |
| -------- | ------- | ------- | -------- |
5
THE CHEAM FOUNDATION YEAR ENDED 31 AUGUST 2025
STATEMENT OF ASSETS & LIABILITIES AT THE END OF THE PERIOD
| Unrestricted | Restricted | Endowment | |
|---|---|---|---|
| Funds | funds | funds | |
| £ | £ | £ | |
| Cash funds at 31 August 2025: | |||
| Principal Foundation Bank Account balance | 29,145 | - | - |
| Events Foundation Bank Account balance | 179,888 | ||
| ------- | |||
| Total cash funds | £209,033 | - | - |
| -------- | |||
| Unrestricted | Restricted | Endowment | |
| Funds | funds | funds | |
| £ | £ | £ | |
| Other | |||
| Monetary | - | - | - |
| Assets: | |||
| Investment | Fund to which | Cost | Current value |
| Assets | asset belongs | (optional) | |
| - | - | - | |
| Asset retained for the | Fund to which | Cost | Current value |
| Charity’s own use | asset belongs | (optional) | |
| - | - | - | |
| Liabilities | Fund to which | Amount due | Current value |
| liability belongs | (optional) | (optional) | |
| - | - | - |
6
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 2025 Charity no 1177913 ended (if any) Set out on pages 1-6 (remember to include the page numbers of additional sheets)
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 08 / 2025.
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 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.
Date: 15/06/2026
Signed: Name: ROBERT PERKINS Relevant professional CHARTERED ACCOUNTANT (ICAS) qualification(s) or body (if any): Address: SPRINGVALE
1
Oct 2018
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 n/a any items that the examiner wishes to disclose .
2
Oct 2018
IER