## **Unaudited Financial Statements** for the Period 1 October 2024 to 30 September 2025 (fifth set of accounts) for ## THE CHERYL KING TRUST Registered Charity number 1191604 ---------------------------------------------------- ## Contents Trust Information ................................................................................................................................... 1 Trustees Report ...................................................................................................................................... 2 Receipts and Payments .......................................................................................................................... 5 Statement of assets and liabilities .......................................................................................................... 7 NOTES ..................................................................................................................................................... 8 Appendix – Independent Examiner’s Report THE CHERYL KING TRUST ## **Trust Information** **TRUSTEES:** M E Windham (Chair) C W Grant A J Hennessey-Brown T O’Dwyer (appointed 13 January 2025) B J Barnes (appointed 10 November 2025) **SECRETARY:** C W Grant **TREASURER:** L Herbert ## **REGISTERED ADDRESS** : 24 Litchfield Way Guildford Surrey GU2 7QH The Cheryl King Trust was registered with the Charity Commission on 2 October 2020, following submission of a _‘Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees (‘Foundation’ model constitution)’_ , dated 16 September 2020. The CIO took over all the activities and the funds from an unregistered trust, ‘The Cheryl King (Hirst) Trust’ which was then wound up. The object of the Charitable Incorporated Organisation (CIO) is _“For the public benefit to promote and advance the musical education of children and young people (the ‘beneficiaries’) in particular, but not exclusively, by the provision of grants and funding to enable the beneficiaries to start or continue with individual or group musical instrument lessons.”_ ---------------------------------------------------- Page 2 THE CHERYL KING TRUST ## **Trustees Report** ## **Vision and Mission** The Charity was set up in memory of Cheryl King who played alto sax and piano and was a very gifted and popular music teacher. She tragically passed away just before Christmas 2014. The Trust’s aim is that no young person in Surrey should be prevented from learning a musical instrument because their parents or guardians cannot afford it. The trust seeks to achieve this by bursaries for individual and group instrument and singing lessons and grants for music and vocal ensembles which target children and young people aged 18 or under living in Surrey whose parents have low incomes ## **Charitable Activities** In the period from 1 October 2024 up to 30 September 2025, the trust has undertaken the following charitable activities: - We provided funding of £10,985 for individual bursaries to 52 students **.** - In addition to the above, the trust funded two young musicians through Young Sounds UK (formerly Awards for Young Musicians) and one through the Future Talent Junior Programme. - We were able to support three group teaching/ensemble projects during the 2024/25 academic year with total funding of £6,431: a group strings tuition project for children in year 4 and 5 of a Guildford primary school; a wind ensemble for year 7 in a Dorking secondary school and string and brass group tuition in a secondary school in Guildford. This enabled us to help an additional 61 young people to make music over the course of the 2024/25 academic year. In September 2025 we started to fund a fourth strings and brass group in a second Guildford secondary school for an additional 10 young people. ## **Fund Raising** The trust continued to increase and diversify its income Our “give a gig” initiative continued to thrive raising £23,206 from a total of 31 events and Guildford Jazz’s regular raffles. A highlight was Guilford Jazz’s fund-raising concert in Guildford Castle grounds in August 2025 which raised £ 4,823. We were grateful to continue our role as charity partner to G Live’s International Concert Series. Individual donations excluding gift aid were down from £14,348 to £8,046 but this was offset by increases in grants from £698 to £4,449 and our first corporate donations of £1,027. Page 3 THE CHERYL KING TRUST ## **Finances** During the year, the Trust had total receipts of £37,742 (up from £ 28,652 in 2023-24) and payments of £20,533 (up from £15,126 in 2023-24). Administrative costs (mainly IT and marketing costs) remained low at £1,167 being only 3 per cent of income. ## **Growth Targets** The resources available to help young people make music continue to decline and many parents continue to struggle with the cost-of -living crisis. Both pressures disproportionately affect parents on low incomes with the county music services under growing pressure to reduce the support they provide for young people on free school meals. Two years ago, we set ourselves the ambitious target of doubling by 2026 the number of children and young people from low-income families that we support and doubling the grant money that we provide for group teaching and ensemble projects targeting those children and young people. We increased the number of children and young people supported from 87 in 2023/4 to 116 in 2024/5 and increased grants to projects from £2,495 to £6,431. A few initiatives are underway which we believe means that we are well on track to exceed our 2026 target. These include the trust funding more ensemble and group teaching projects, funding more free school meal students taking lessons from Surrey Arts and a pilot scheme for nominated bursaries in selected schools. In addition, the Trust is undertaking significantly more marketing of the availability of the Trust’s bursaries to schools and charities helping financially disadvantaged families to try to increase the uptake of our regular individual bursaries. ## **Reserves** As of 1 October 2025, we have reserves of £50,352 of which £1,508 are restricted. The Trustees recognize their responsibility to maintain sufficient reserves so that the young people who are the beneficiaries of the trust’s charitable activity do not experience disruption in their musical development. It is therefore the ambition of the charity to create and maintain reserves sufficient to ensure that the trust can continue to fund lessons for any child or young person whose parents receive a CKT bursary until that child or young person reaches the end of their junior or senior school as appropriate and can fund any ensemble or group teaching projects currently being funded for one more year in order to allow time for the project to try to secure alternative funding. The current level of reserves exceeds this amount. However, the growth initiatives described above will significantly increase the number of bursaries and projects and therefore the reserves needed under our current reserves policy. ## **Post Financial Year End Significant Events** After the end of the financial year, the trust merged with Robert Bouffler Music Trust (charity registered number 299751) (“RMBT”) on 1 October 2025. Pursuant to the merger RMBT transferred £16,122.91 in cash to The Cheryl King Trust on 27 October 2025 pursuant to a pre- merger vesting declaration dated 25[th] September 2025. RMBT had discharged all Page 4 THE CHERYL KING TRUST liabilities prior to the merger, and no liabilities were transferred to the trust. The merger has been noted on the register of charity mergers. In November 2025 the trust was notified that it was likely to receive a one-off legacy donation of approximately £17,000 which is expected to be received some time in the financial year 2025/6. ........................................................................ M E Windham – Chair 20 January 2026 Page 5 THE CHERYL KING TRUST ## **Receipts and Payments** for the Period 1 October 2024 to 30 September 2025 |**RECEIPTS**
Funds raised by events
Donations from individuals
Donations from Trusts
Donations from companies
Gift Aid reclaim
Bank Interest
Total Receipts
**PAYMENTS**
Individual Bursary Awards
Future Talent Bursary
Young Sounds UK Bursary
Special Projects
Administration Costs
Total Payments
Surplus/(Deficit) for the period
Balance brought forward|**2024-25**
_Unrestricted_
_Restricted_
£ 23,206
£ 8,046
£ -
£ 4,449
£ 1,027
£ 693
£ 321
£ 33,293
£ 4,449
_Unrestricted_
_Restricted_
£ 10,170
£ 815
£ 1,200
£ 750
£ 4,305
£ 2,126
£ 1,167
£ 17,592
£ 2,941
£ 15,701
£ 1,508
£ 33,143
£ -
£ 48,844
£ 1,508|_2023-24_
_Unrestricted_
_Restricted_
_£ 12,020_
_£ 14,348_
_£ - £ 698_
_£ -_
_£ 1,321_
_£ 265_| |---|---|---| |||_£ 27,954 £ 698_
_Unrestricted_
_Restricted_
_£ 10,982 £ 698_
_£ 600_
_£ -_
_£ 2,495_
_£ 351_| |||_£ 14,428 £ 698_
_£ 13,526 £ -_
_£ 19,617 £ -_| |||_£ 33,143 £ -_| Page 6 THE CHERYL KING TRUST ## **Statement of assets and liabilities** As at 30 September 2025 |As at 30 September 2025|As at 30 September 2025| |---|---| |30 Sep 2025 30 Sep 2024|| |**FIXED ASSETS**|| |Tangible Assets ----------------------------------------------------------------- £ 0|£ 0| |**CURRENT ASSETS**|| |Debtors -------------------------------------------------------------------------- £ 0|£ 0| |Cash at bank (see note 2) --------------------------------------------- £ 50,352|£ 33,143| |NET CURRENT ASSETS ------------------------------------------------- £ 50,352|£ 33,143| |TOTAL ASSETS LESS CURRENT LIABILITIES ------------------------- £ 50,352|£ 33,143| |NET ASSETS -------------------------------------------------------------- £ 50,352|£ 33,143| |UNRESTRICTED FUNDS ------------------------------------------------ £ 48,844|£ 33,143| |RESTRICTED FUNDS ------------------------------------------------------£ 1,508
|£ -| The financial statements were approved by the Trustees on 20 January 2026 and were signed on its behalf by: ........................................................................ M E Windham – Chair Page 7 THE CHERYL KING TRUST ## **NOTES** ## 1. Donations from Trusts Trust income of £4,449 was restricted (Community Foundation of Surrey £2,835; David Williamson Trust £1,614) and the sums expended in the year totalled £2,941. Restricted income of £1,508 has been carried forward into the coming year. In the previous year, Trust income of £698 was restricted and it was fully expended in the same year. No restricted income was carried forward into the current year. ## 2. Cash at Bank |2. Cash at Bank|2. Cash at Bank| |---|---| |Metro Bank Current Account ------------------------------------ £ 9,242|| |Metro Bank Instant Access -------------------------------------|£ 41,110| ||-----------| |**Total**|**£ 50,352**| ## 3. Creditors We hold no invoices, unpaid at 30 September 2025 We held two invoices, unpaid as of 30 September 2024. |Surrey Arts (re Christ’s College Special Project) ----------------- £ 472| |---| |Awards for Young Musicians (late invoice) ----------------------- £ 750| |-----------| |**Total**
**£ 1,222**| End. Page 8 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts . Section A,, Independent Examiner's Report Report to the trustees h•)rit4i K13me The Cheryl King Trust On accounts for the year ended 30 September 2025 Charity no (if any) 1191604 Set out on pages 1to8 (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 30 109 12025. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the 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 examiner's statement Delete [ ] if not applicable. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (otheplh SGlese*• 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. Signed: Date: 211, 102 Name: Helen M L Lee Relevant professional qualification(s) or body FCA IER Oct 2018 (if any): Address: 55 Wodeland Avenue Guildford Surrey GU2 4LA 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. IER Oct 2018