Trustees ’ Report and Unaudited Financial Statements for the year ended 31 August 2025
Incorporated in England as a Charitable Incorporated Organisation (No CE028308) and registered as a charity in England and Wales No 1197857
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CONTENTS
| Report of the Trustees | 1 |
|---|---|
| Independent Examiner’s report | 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 |
| Accounting policies | 15 |
| Notes to the financial statements | 18 |
| Charity information | 25 |
All Photos: Copyright © Elaine Mayson
Inside cover: CST Vocational Classical Ballet Awards 2024/25 - Oliver Bocero Hanan (Cyril Beaumont Scholarship Winner) Back page top to bottom: From Studio to Stage 2025 - Rebecca Myles Stewart and Ravi Cannonier-Watson, Aud Jebsen Young Dancers of The Royal Ballet in the Pas de Deux from Rhapsody; and Jessica Clarke of The Royal Ballet School teaching Cecchetti Classical Ballet Scholars.
REPORT OF THE TRUSTEES For the year ended 31 August 2025
The trustees of The Cecchetti Society Trust present their annual report for the purposes of the Charities Act 2011, together with the financial statements for the period ended 31 August 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (2019) and Financial Reporting Standard (FRS 102) in preparing this report.
Governance
Governing documents
The Cecchetti Society Trust is governed by its Constitution as a Charitable Incorporated Organisation (the CIO), registered in England and Wales (No 1197857) on 9 February 2022. The CIO originated from The Cecchetti Society Trust (the Trust), established by a Declaration of Trust on 20 March 1978 through a legacy from Cyril Beaumont, the renowned dance historian and writer, and which had been registered as a charity in England and Wales No 275548 on 25 May 1978.
The original trust also incorporated the assets of The Cyril Beaumont Scholarship Trust (CBST), originally established in 1963 to provide scholarships for students training in the Cecchetti method of classical ballet and transferred to the Trust on 7 October 2019.
The assets and activities of the original Trust were transferred to the CIO in the financial year 2022/23, and both original charities are recorded on the Charity Commission’s Register of Mergers as having merged with the CIO, which is the continuing charity.
Cecchetti was registered as a word trademark in the United Kingdom No UK00003383372 on 17 January 2020 and the image of Enrico Cecchetti as a logo trademark No UK00003383373 on 14 June 2019.
Governing body
The Board of Trustees manages the affairs of the CIO and is responsible for governance and leadership. The trustees exercise their powers and perform their functions in the way they decide, in good faith, is most likely to further the charity’s aims and purposes. The Board meets at least four times a year and consists of no fewer than three and no more than nine trustees.
Recruitment of trustees
Trustees are appointed based on the skills, knowledge, expertise and experience needed for effective governance. Appointments are made for a term of five years. Training of trustees depends on the charity’s needs, the individuals’ areas of expertise and any applicable regulatory requirements.
Organisation and management
The trustees may delegate responsibilities to one or more committees, and where they do so, they shall determine the terms and conditions on which the delegation is made.
Third-party grant applications are reviewed by the full Board, while bursary applications are delegated to an Awards Panel, which includes two members from the Cecchetti Classical Ballet Faculty of the Imperial Society of Teachers of Dancing (ISTD). A majority of the Panel are trustees.
The Cecchetti Society Trust 1
REPORT OF THE TRUSTEES For the year ended 31 August 2025
Policies
Social investment policy
The Trust invests in funds which take account of environmental, social and governance factors, avoiding sectors such as tobacco and limiting exposure to fossil fuel extraction.
Grant-making policy
The trustees approve annual funding levels for individual bursaries, scholarships, and awards, and thirdparty grants. This is dependent on the funds available to the Trust, from income and capital growth. Funding includes both restricted and unrestricted funds, classified as follows:
Unrestricted funds
Grants: budgeted amounts, and known frequency
Grants: small and general, indeterminate amounts, and unknown frequency Teacher and student study bursaries; budgeted amounts and known frequency Restricted funds
Donations and legacies received for specific purposes to which they are applied
Contribution of volunteers
The Trust relies on volunteers to support events and other activities. Volunteers are drawn from the Cecchetti Classical Ballet Faculty of the Imperial Society of Teachers of Dancing (ISTD), and from trustees’ business and social networks. Volunteers are made aware of CST’s aims and the intended impact of the activity they have been asked to support. In 2024/25, volunteers assisted at The Cecchetti Society Trust Vocational Classical Ballet Awards in November 2024 and From Studio to Stage in May 2025 (2023/24: Cecchetti Society Trust Vocational Classical Ballet Awards). Their contributions are recognised as vital to the charity’s work.
Principal Activities
The charity provides grants, bursaries, scholarships and funding for outreach programmes, events, and educational initiatives to promote and support Cecchetti Classical Ballet.
Public Benefit
The CIO is a charity registered in England and Wales. Trustees are required to ensure that they carry out the charity’s aims for the public benefit. They have regard to the Charity Commission’s guidance on public benefit in determining whether the activities, both existing and future, contribute to the aims and objectives of the charity. These are set out in the Constitution:
The advancement of education of the public in the art of classical ballet and in particular that art as perpetuated by the Cecchetti Method of Training in such ways as the charity trustees think fit including:
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(i) the furtherance of the Cecchetti Method of training;
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(ii) holding classes and courses in classical ballet;
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(iii) organising conferences and seminars on teaching methods; and
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(iv) the publication of educational literature on ballet
Trustees’ Report and Unaudited Financial Statements 2025
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REPORT OF THE TRUSTEES For the year ended 31 August 2025
The trustees consider that the activities meet the main principles of public benefit - that the use of funds is effective, benefits are identifiable and are related to the objective of the furtherance of and the knowledge and education of the Cecchetti Method of Training, that the public are the beneficiaries and that there is no significant exclusion as to who can benefit.
Mission, Vision and Values
Mission
To advance the education of the public in the art of classical ballet and in particular the Cecchetti Method of Training.
Vision
To expand access and visibility to Cecchetti training and support individuals and organisations involved in its teaching and promotion.
Values
To promote diversity, equality and inclusion through transparent processes and supporting participation at all levels.
Structure
Patrons
The Trust has three Patrons who have no trustee responsibility but lend their name to endorsing and supporting the work of the Trust.
Board of Trustees
The Board of Trustees, as set out on page 25, shall be no fewer than three members nor more than nine. Trustees are responsible for the identification and appointment of new trustees, considering the skills and needs of the board. Two new candidates were appointed in December 2024 having been identified the prior year. Three existing trustees were re-appointed during the year for a further five years. The Chair is responsible for the executive leadership and management of the board.
Meetings
The number of scheduled meetings was increased to a minimum of four meetings a year to coincide with grant applications, grant decisions and financial obligations. Five Trust meetings were held in the year, all online (2023/24 4 online, 1 in person). Trustees are provided with minutes of previous meetings and supporting papers.
The Awards Panel met twice in the year to assess applications and allocate funding. Separate meetings were held in relation to the two Trust events, and with the developers of the Enrico Cecchetti Diploma (ECD) Project.
Independence
Trustees are required to disclose any conflicts of interest at each meeting.
The Cecchetti Society Trust 3
REPORT OF THE TRUSTEES For the year ended 31 August 2025
Induction and training
All new trustees are provided with the Constitution, Financial accounts, Strategic Plan and information relating to the activities of the Trust. Trustees are expected to be aware of their duties and responsibilities as a charity trustee, and to undertake appropriate training for the skills for which they were appointed.
Indemnities and insurance
In accordance with Clause 5.1.2, and subject to the conditions in section 189 of the Charities Act 2011, the Trust has taken out indemnity insurance to indemnify the trustees, patrons and volunteers against the consequences of any neglect or default on their part.
Strategic Plan and achievements
2024/25 marked the second year of the charity’s 5-year Strategic Plan 2024-2028. Trustees had agreed a series of objectives in order to remain dedicated to imaginative and responsible funding of the Cecchetti artform, with a particular focus on enabling access to Cecchetti training, resources and encouraging talent from whatever background and training. Further progress was made in meeting these objectives:
Operational procedures
Objective:
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Keep under review grant procedures, terms and conditions, ensuring the application process and decision-making processes are informed, rigorous and timely and that effective controls are in place
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Identify areas for improvement
Achievements:
An online Funding information session for applicants was introduced on Zoom in April 2025. Terms and conditions relating to timing of funding rounds, frequency of applications, and value of small and general grants were reviewed and updated during the year.
Decision dates for the consideration of the Accounts, project Grants, teacher and student Bursary awards and Investment portfolio reviews were aligned to particular Board dates.
Impact and Public Benefit
Objective:
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Keep under review the type, format and cost base of activities and events through which the Trust has traditionally delivered their objectives and determine if these are the best use of funds
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Identify metrics so that the impact of the Trust’s work can be meaningfully measured
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Find other avenues to promote Cecchetti to a wider audience
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Consider the digitisation of the Enrico Cecchetti Diploma
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Uphold the Memorandum of Understanding between the Trust and the ISTD
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Ensure that our work is open to the general public where appropriate
Trustees’ Report and Unaudited Financial Statements 2025
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REPORT OF THE TRUSTEES For the year ended 31 August 2025
Achievements:
Representatives of ISTD and the CIO continued to meet in the year to discuss events of mutual interest; and to share information regarding events, schemes or plans that each party intends to hold or run and which each party considers useful to discuss with the other party.
The contract for the software development of the Enrico Cecchetti Diploma DVD as an App (ECD Project) commenced at the end of August. The App will contain in-app purchases and free content derived from the DVD and will enable students, teachers and supporters of the Method to view Cecchetti’s work on a mobile and compatible laptops on the go or in a studio.
Following the extension of Teacher Study Bursaries Band 2 to members of the Cecchetti Society of Southern Africa (CSSA), awards were made in the year.
The Vocational Classical Ballet Awards included the Cyril Beaumont Scholarship for the first time in 2024/25. Trustees agreed that the content of the three awards within the Vocational Classical Ballet Awards would be further reviewed in 2025/26.
Financial and reputational stability
Objective:
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Keep under review the investment performance to determine the value of annual recurring revenue that can be contributed each year
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Protect our brand and trademarks where appropriate
Achievements:
Action has been taken against breaches of the trademark by third parties. The trustees have agreed to trademark the current logo once the App has been finalised.
Poor performance by CCLA and its intended takeover by Jupiter Fund Management made any investment decisions difficult, and trustees determined to see how performance might pick up under new management; although continuing geopolitical instability in 2026 exacerbated the global impact on world exchanges.
Performance during the year
The Trust continued to fulfil its core mission of supporting and promoting the Cecchetti Method for the period 1 September 2024 to 31 August 2025 by:
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Financial support through bursaries and grants for teachers and students
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Talent development through the Scholars scheme and competitions
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Events and advocacy promoting the Cecchetti Method
The Cecchetti Society Trust 5
REPORT OF THE TRUSTEES For the year ended 31 August 2025
Financial Support and Funding Activity
Teacher Study Bursaries: Individuals wanting to start a career in teaching the Cecchetti Method; upskill their Cecchetti qualifications or provide further Cecchetti learning opportunities in their continuing professional development portfolio may apply for a Teacher Study Bursary. Applicants have to be members of the ISTD in London or the CSSA in Johannesburg for a Band 2 Award. Two inaugural South African CSSA Bursaries were awarded in 2023/24.
Awards are available in five Bands:
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Initial and Further Teacher Training
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Higher Teacher Training & Enrico Cecchetti Diploma
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Continuing Professional Development
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Professional dancers re-training
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International study
Recipients are able to claim up to the value of their award. Claims can fall in two financial years, as funding requests in March 2024 cover the period January to December 2024 and funding requests in March 2025 cover the period January to December 2025. A second round was also held in June 2025.
The Assessment Panel approved the following:
| Teacher Study Bursaries No of recipients Band 1: Initial & Further Training 10 Band 2: Higher Training & ECD 1 Band 2: Higher Training & ECD (CSSA) 2 Band 3: CPD - Band 4: Professional dancers retraining - Band 5: International study 1 Teacher awards (additional designation) - Approved in year 14 |
2024/25 £ No of recipients 5,900 7 1,100 3 1,292 2 - 2 - - 1,100 2 - 1 £9,392 15 |
2023/24 £ 4,200 3,300 570 1,000 - 2,400 400 |
|---|---|---|
| £11,870 |
Student Study Bursaries: The Trust supports a number of Study Bursaries available at both vocational and recreational levels and are intended to assist the continuing training of vocational students and young dancers.
The Assessment Panel approved 6 Summer School Bursaries with a combined value of £2,055 (2024 16, combined value £4,050). The successful recipients will enable Cecchetti trained dancers aged between 12-19 years with financial assistance to attend summer schools or intensive training courses, with awards of up to £500 for residential courses and £300 for non-residential study.
Talent development
Grants are made to the ISTD and other third-party organisations that support Cecchetti. Grants are assessed in June for the period September 2024 to August 2025. Grants in the financial year covered:
Trustees’ Report and Unaudited Financial Statements 2025
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REPORT OF THE TRUSTEES For the year ended 31 August 2025
ISTD activities: The Trust underwrites the running costs of the Cecchetti Classical Ballet Scholars Scheme. The Scheme was established in 1952 and has been supported over the years by many devoted Cecchetti teachers who have given their time freely to organise and run the weekly classes and performances. It offers talented young dancers a 3-term 27-week high-level training and performance pathway at ArtsEd, Chiswick and the opportunity to perform on stage. There are no charges for the beneficiaries as the Scheme is fully funded by The Cecchetti Society Trust. Auditions are held each May for the following academic year.
At the end of the academic year 2 (2024 1) progressed to vocational schools and 2 (2024 1) progressed to higher education.
| 2024/25 | 2023/24 |
|
|---|---|---|
| Cecchetti Scholars Scheme | No of | participants |
| Class 1 | 11 | 13 |
| Class 2 | 12 | 10 |
The Trust underwrote the adjudication costs for the Malta Awards and the Mabel Ryan Awards, as well as providing the monetary prizes for the Winner and Runner up of the Malta Awards. 85 students took part in the Mabel Ryan Awards in November (2023/24 99), and 110 students (2023/24 81) took part in the Malta Awards in December 2024. Ella Pace was awarded the Tanya Bayona Senior Award (€1100) and Eleyna Darmanin the Runner-up Award (€400). Bianca Ellul Sullivan received a special commendation.
Third party activities: Small and General Grants supported a range of projects and initiatives aligned with the Trust’s objectives, including the Southern Area Awards. A group of teachers in Southern England successfully relaunched these Awards in April 2025 at The Hawth Theatre in Crawley. 25 students took part. It was particularly fitting that a bequest to the Trust from Penny Walker, who had previously organised these for many years, had made a Grant to support this initiative possible.
Events, advocacy and community engagement
The Trust held two events, providing opportunities for the public to learn about Cecchetti and for teachers and students to network.
Vocational Classical Ballet Awards: In November 2024, the Trust hosted the Vocational Classical Ballet Awards at Elmhurst Ballet School in Birmingham, incorporating the Fewster Cecchetti Scholarship and the Barbara Geoghegan Award, and for the first time the Cyril Beaumont Scholarship (including the Mary Jane Duckworth Award). In previous years KS Dance had held the Cyril Beaumont Scholarship and the Mary Jane Duckworth Award.
The Awards offered 27 (2023/24 40) young dancers the opportunity to participate in a high-profile competition event with generous prizes to support their ballet training. This event featured adjudicated ballet classes containing unset work and specified traditional Cecchetti exercises for all competitors, along with Solo classical variations for Geoghegan Award and Cyril Beaumont Scholarship entrants.
The Cecchetti Society Trust 7
REPORT OF THE TRUSTEES For the year ended 31 August 2025
The Trust provides prize money of up to £10,100 in total for 10 awards (2023/24 £9,100) with two generous benefactors supporting the Musicality Award and the Mary Jane Duckworth Award. Musicality and Promising Young Dancer are awarded at the discretion of the adjudicators.
| Value | Fewster Cecchetti Scholarship (FCS) |
Barbara Geoghegan Award (BGA) |
Cyril Beaumont Scholarship (CBS) |
|
|---|---|---|---|---|
| Winner | £2,000 | Philippa Robertson-Kellie |
Maddison Thew | Oliver Bocero Hanan |
| Runner up | £800 | EmilyWalmsley | Becca Brusven | |
| Runner up | £600 | Carlos Luna | ||
| PromisingStudent | £250 | India Johnson | ||
| £250 | Antonio Luna | |||
| Musicality | £700 | Momoka Takeda(CBS) | ||
| PromisingYoungDancer | £700 | Charlotte Carter(CBS) |
The winner of the Cyril Beaumont Scholarship had received the Mary Jane Duckworth Award the previous year.
From Studio to Stage: The Trust held the second From Studio to Stage in May 2025 at the Royal Ballet School. It was dedicated to the memory of Barbara Fewster and Richard Glasstone, with a distinguished panel remembering and reminiscing about these Cecchetti luminaries. The programme included classes on the Teaching of Pointe Work and Cecchetti Principles; two performances given by the scholars; Winners’ performances, a performance by Matthew Hawkins of an excerpt from Ready , and finishing with the Pas de Deux from Rhapsody with two dancers from the Aud Jebsen Young Dancers programme. The Cecchetti Scholars and winners of the CICB 2024 Scholarships and Vocational Classical Ballet Awards 2024/25 provided an appropriate platform to demonstrate the outcome of the Trust’s funding opportunities.
ISTD 120[th] Anniversary Celebrations: The Cecchetti Classical Ballet Scholars represented the ISTD Cecchetti Faculty at the ISTD Congress in November 2024, as part of the ISTD’s 120th Anniversary Celebrations.
Cecchetti Conference: The Trust supported a Conference in Civitanova Marche, the birthplace of Enrico Cecchetti in May 2024. The combination of lecture presentations, practical demonstrations, masterclasses and thematic sessions was organised by ANCEC (Associazione Nazionale Coreutica Enrico Cecchetti).
Trustees’ Report and Unaudited Financial Statements 2025
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REPORT OF THE TRUSTEES For the year ended 31 August 2025
Financial review
The Charity had net outgoing resources of £2,044 (2024 net outgoing resources: £21,199) for the year before movement on investments. All outgoing resources related to General Funds, Restricted Funds received were spent. Total income for the year was £59,774 (2024: £61,689), including £52,590 (2024: £53,655) from investments and £1,226 (2024: £4,640) from donations and legacies.
The Charity authorised a total expenditure of £61,818 (2024: £82,888) made up of expenditure on General Fund charitable activities of £61,418 (2024: £67,412) and Restricted Fund charitable activities £400 (2024: £15,746).
Reserves
On 31 August 2025 total funds were £1,631,989 (2024: £1,686,286). Of this amount £100 (2024: £100) was restricted, giving free reserves of £1,631,889 (2024: £1,686,186).
Investment policy and performance
The Trust’s policy is to provide long-term growth in capital and income, and to protect present and future beneficiaries against the effect of inflation. Trust funds are held in the COIF Charities Ethical Investment Fund which is approved by the Charity Commission as Common Investment Funds under section 24 of the Charities Act 1993 (as replaced by the Charities Act 2011) and is managed by CCLA Investment Management Ltd. who are authorised and regulated by the Financial Conduct Authority. The managers’ report to the Trust on a quarterly basis. The increase in investment performance in 2024 of £114,312 was reduced by £52,253 in 2025 due to the performance of the Fund Managers and the ongoing global conflict in Ukraine. The net growth remains in line with the assumptions of growth in income and capital in the Strategic Plan.
Risk and control
The trustees are responsible for the internal controls and risk management of the Trust. The Board approves annual spending requests, reviews quarterly results, receives investment reports and from time to time considers projects and events which may have an element of financial risk.
Exposure to risk includes:
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Statutory and regulatory compliance: the Trust is subject to statutory and regulatory compliance, in particular financial, conflict of interest, data protection, privacy, and charity regulations. The Trust mitigates any risks by appointing trustees with relevant financial and legal experience and contracting proper investment managers and registered auditors.
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Financial control: the Trust ensures control over its financial affairs by ensuring that all transactions are within budget or income stream, authorised correctly, insured where necessary, evidenced by appropriate documentation or information, and approved by at least two trustees.
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Internal controls: the Trust exercises controls over the award of grants and awards and ensures that there is no conflict of interest or related third party interest,
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Operational risks: The Trust already exercises risk assessments and health and safety where necessary for physical events that it either manages or participates in but will need to consider any further operational risk and additional internal controls inherent in broadening its strategy.
The Cecchetti Society Trust 9
REPORT OF THE TRUSTEES For the year ended 31 August 2025
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Project risks: The Trust is aware of the risks that emanate from a project, that can by their nature disappear when the project is complete but can also linger where there may be longer-term insurance or contractual obligations or repercussions.
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Strategic risks: The Trust manages external risk by considering and exercising prudence and caution in its planning, strategy and impact.
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Economic climate: the Trust is vulnerable to changes in the global economic climate which can affect its investment funds.
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World events: the Trust is vulnerable to “black swan” events such as pandemics, natural phenomena and changes in climate. All of these may impede the Trust achieving its grantmaking and awarding activities, either through the activities itself or the impact on its investments.
Outcomes and impact
The Trust’s activities are funded through investment income, donations, legacies and some royalty income. Its founding Legacy is the bedrock on which it can base a sustained financial support and structured programmes for the advancement of the Cecchetti Method.
The Trust’s activities have had a clear and measurable impact on both individuals and the wider Cecchetti community. Teachers have benefited from continued professional development, while students have gained access to high-quality training and performance opportunities. The relaunch of regional awards and the continuation of the Scholars programme have strengthened the development pathway from early training to advanced performance. Key outcomes have been:
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Multiple bursaries awarded across the year
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Competitions and awards successfully delivered
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Strong pipeline from training to performance
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Expansion of grant-supported initiatives
Plans for the Future
The Trust aims to continue to focus on promoting inclusivity by offering scholarships, bursaries and grants; supporting outreach programmes and new initiatives; and maintaining its commitment to young dancers and teachers within the Cecchetti tradition.
The Vocational Classical Ballet Awards will now be presented annually by the Trust. These Awards provide an opportunity for talented students to be spotted, and for them to perform with their peers; the Cecchetti Scholars for young students to develop their talent; and From Studio to Stage to showcase Cecchetti to the public.
Trustees agreed to support a pilot of the Cecchetti Scholars Scheme in the Midlands in 2025/26.
In 2018 the CST funded the development of the Enrico Cecchetti Diploma DVD. In 2025 the Trust has commissioned the development of an App so that the content of the DVD remains relevant in today’s digital world. It is expected to be launched towards the end of 2026.
In 2026 the trustees are considering taking on a financial consultant to look after its books of account.
Trustees’ Report and Unaudited Financial Statements 2025
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REPORT OF THE TRUSTEES For the year ended 31 August 2025
Statement of Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees' report was approved by the Board of Trustees.
Elisabeth Swan, Chair and Trustee
Date 18 June 2026
The Cecchetti Society Trust 11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CECCHETTI SOCIETY TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 13 to 25.
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 charity’s accounts carried out under section 145 of the 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 examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
Geoffrey Frost BSc (Hons) FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Date 18 June 2026
Trustees’ Report and Unaudited Financial Statements 2025
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STATEMENT OF FINANCIAL ACTIVITIES For the ear ended 31 Au ust 2025 y g
| Note Income and Endowments from: Donations and legacies 1 Charitable activities 2 Investments 3 Total Expenditure on: Charitable activities 4 Total Net outgoing resources before movement on investments Net gains/(losses) on investments9 Net income/(expenditure) Transfers between funds 11 Reconciliation of Funds Total funds brought forward 11 Total funds carried forward 11 |
Year ended 31 August 2025 Unrestricted General Funds Designated Funds Restricted Funds £ £ £ 826 - 400 5,958 - - 52,590 - - 59,374 - 400 61,418 - 400 61,418 - 400 (2,044) - - (52,253) - - (54,297) - - - - - (54,297) - - 1,686,186 - 100 1,631,889 - 100 |
Total Funds £ 1,226 5,958 52,590 59,774 61,818 61,818 (2,044) (52,253) (54,297) - (54,297) 1,686,286 1,631,989 |
Restated Year ended 31 August 2024 Total Funds £ 4,640 3,394 53,655 |
|---|---|---|---|
| 61,689 | |||
| 82,888 | |||
| 82,888 | |||
| (21,199) 114,312 |
|||
| 93,113 - |
|||
| 93,113 1,593,173 |
|||
| 1,686,286 |
None of the charity's activities were acquired or discontinued during the above two financial years.
The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
.
The Cecchetti Society Trust
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BALANCE SHEET As at 31 Au ust 2025 g
| Note Fixed Assets Investments - managed funds 8 Current Assets Cash at hand and in bank Total current assets Current Liabilities Creditors: amounts falling due within one year 10 Net current assets/(liabilities) Net assets/(liabilities) The Funds of the Charity Restricted funds 11 Unrestricted designated funds 11 Unrestricted general funds 11 Total charity funds |
31 August 2025 £ £ 1,318,775 315,014 315,014 1,800 313,214 1,631,989 100 - 1,631,889 1,631,989 |
31 August 2024 £ £ 1,371,028 317,058 317,058 1,800 315,258 |
|---|---|---|
| 1,686,286 | ||
| 100 - 1,686,186 |
||
| 1,686,286 |
The accompanying notes form part of the financial statements
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
Elisabeth Swan Chair and Trustee
Date 18 June 2026
Trustees’ Report and Unaudited Financial Statements 2025
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ACCOUNTING POLICIES
General information, scope and basis of the financial statements
The Cecchetti Society Trust is an incorporated charity constituted as a Charitable Incorporated Organisation (CIO). The address of the principal office is given in the reference and administrative details section, and the nature of the charity’s operations and principal activities are given in the Trustees' report.
The charity constitutes a public entity as defined by FRS 102. The financial statements have been prepared 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 applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Cash flow statement
The charity does not include a statement of cash flows on the grounds that it is applying FRS 102 Section 1A.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation, and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
The Cecchetti Society Trust 15
ACCOUNTING POLICIES
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
-
Raising funds: these include costs associated with holding fundraising events
-
Charitable activities: these include direct activities in furtherance of the charity's objectives and the costs of administering the charity inclusive of governance cost
Educational material and educational software development are considered to be within the charitable objectives, as are Scholarships, bursaries and other awards payable to individuals. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
VAT
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
Taxation
The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Trustees’ Report and Unaudited Financial Statements 2025
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ACCOUNTING POLICIES
Cash and cash equivalents
Cash and cash equivalents includes cash at bank and in hand and cash balances within the investment portfolio available for investment transaction purposes.
Fund accounting
Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to be able to continue as a going concern.
The Cecchetti Society Trust 17
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
1 Donations and legacies
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Donations and legacies | Funds | Funds | Funds | Funds |
| £ | £ | £ | £ | |
| Year to 31 August 2025 | 826 | - | 400 | 1,226 |
| Year to 31 August 2024 | 4,340 | - | 300 | 4,640 |
2 Charitable activities
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Trust event income | 5,412 | - | - | 5,412 |
| Sale of education materials | 75 | - | - | 75 |
| Royalties received - DVD | 471 | - | - | 471 |
| Year to 31 August 2025 | 5,958 | - | - | 5,958 |
| - | - | |||
| Trust event income | 2,118 | - | - | 2,118 |
| Sale of education materials | 1,276 | - | - | 1,276 |
| Royalties received - DVD | - | - | - | - |
| Year to 31 August 2024 (Restated) | 3,394 | - | - | 3,394 |
3 Investments
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Bank interest | 89 | - | - | 89 |
| Income from investments | 52,501 | - | - | 52,501 |
| Year to 31 August 2025 | 52,590 | - | - | 52,590 |
| Bank interest | 112 | - | - | 112 |
| Income from investments | 53,543 | - | - | 53,543 |
| Year to 31 August 2024 | 53,655 | - | - | 53,655 |
Trustees’ Report and Unaudited Financial Statements 2025
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
4 Charitable activities
| Charitable activities | |||||
|---|---|---|---|---|---|
| Unrestricted | |||||
| General | Designated | Restricted | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Scholarships, bursaries and awards | 42,138 | - | 400 | 42,538 | |
| Cost of events | 14,131 | - | - | 14,131 | |
| Imperial Society of Teachers of Dance | (ISTD) 1,000 | - | - | 1,000 | |
| App software development costs | 659 | - | - | 659 | |
| DVD development costs | - | - | - | - | |
| Support and governance (note 5) | 3,490 | - | - | 3,490 | |
| Year to 31 August 2025 | 61,418 | - | 400 | 61,818 | |
| Scholarships, bursaries and awards | 54,394 | - | 200 | 54,594 | |
| Cost of events | 5,102 | - | - | 5,102 | |
| Imperial Society of Teachers of Dance | (ISTD) 4,000 | - | - | 4,000 | |
| App software development costs | - | - | - | - | |
| DVD development costs | - | - | 12,000 | 12,000 | |
| Royalties payable - DVD | - | - | 3,276 | 3,276 | |
| Support and governance (note 5) | 3,916 | - | - | 3,916 | |
| Year to 31 August 2024 (Restated) | 67,412 | - | 15,476 | 82,888 |
5 Support and governance costs
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Insurance | 1,002 | - | - | 1,002 |
| Bank charges | 438 | - | - | 438 |
| Website and advertising | 164 | - | - | 164 |
| Other costs | 86 | - | - | 86 |
| Governance costs: | ||||
| Examiner’s fees (note 6) | 1,800 | - | - | 1,800 |
| Year to 31 August 2025 | 3,490 | - | - | 3,490 |
The Cecchetti Society Trust
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
5 Support and governance costs (continued)
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Insurance | 174 | - | - | 174 |
| Bank charges | 139 | - | - | 139 |
| Website and advertising | 910 | - | - | 910 |
| Other costs | 383 | - | - | 383 |
| Accountancy fees | 510 | - | - | 510 |
| Governance costs: | ||||
| Examiner’s fees (note 6) | 1,800 | - | - | 1,800 |
| Year to 31 August 2024 | 3,916 | - | - | 3,916 |
6 Independent examiner’s fees
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| General | Designated | Restricted | Total | |
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Current year examination | 1,800 | - | - | 1,800 |
| Year to 31 August 2025 | 1,800 | - | - | 1,800 |
| Prior year examination | 1,800 | - | - | 1,800 |
| Year to 31 August 2024 | 1,800 | - | - | 1,800 |
7 Related party transactions
The charity has no employees; all administration being carried out by the trustees and professional advisors. None of the charity’s trustees were remunerated.
£40 travel expenses were reimbursed to a trustee during the year (2024: £91).
£154 donation was received from one of the trustees during the year (2024: £nil)
During the year under review and the comparative year there were no other transactions with related party which required disclosures.
31 August 31 August 2025 2024
Trustees’ Report and Unaudited Financial Statements 2025
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
8 Fixed asset investments
| £ | £ | |
|---|---|---|
| Market value brought forward | 1,371,028 | 1,306,716 |
| Additions at cost | - | - |
| Disposals at carrying value | - | (45,693) |
| Gain/(loss)on revaluation | (52,253) | 110,005 |
| Market value carried forward | 1,318,775 | 1,371,028 |
| Gains/(losses) on investments | ||
| £ | £ | |
| Unrealised gains/(losses) on revaluation | (52,253) | 110,005 |
| Realisedgains/(losses)on revaluation | - | 4,307 |
| Netgains/(losses)on investments | (52,253) | 114,312 |
| Creditors: amounts falling due within one year | ||
| £ | £ | |
| Accruals – Professional fees | 1,800 | 1,800 |
9 Gains/(losses) on investments
10 Creditors: amounts falling due within one year
11 Movement in funds
| Restricted Funds Cecchetti Legacy Fund Mary Jane Duckworth Award Classical Ballet Award Barbara Fewster Award Stephen Ayres Travel Award Total restricted funds Unrestricted Funds General funds |
For the year to 31 August 2025 Total funds b/f Total incoming resources Total resources expended Gains/ losses on invstmts Transfers between funds Total funds c/f £ £ £ £ £ £ - - - - - - - 200 (200) - - - - - - - - - - 100 (100) - - - 100 100 (100) - - 100 |
|---|---|
| 100 400 (400) - - 100 |
|
| 1,686,186 59,374 (61,418) (52,253) - 1,631,889 |
|
| Total unrestricted funds | 1,686,186 59,374 (61,418) (52,253) - 1,631,889 |
| Total funds | 1,686,286 59,774 (61,818) (52,253) - 1,631,989 |
The Cecchetti Society Trust
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
11 Movement in funds (continued)
| Restricted Funds Cecchetti Legacy Fund Mary Jane Duckworth Award Classical Ballet Award Barbara Fewster Award Stephen Ayres Travel Award Total restricted funds Unrestricted Funds General funds |
For the year to 31 August 2024 Total funds b/f Total incoming resources Total resources expended Gains/ losses on invstmts Transfers between funds Total funds c/f £ £ £ £ £ £ 11,291 - (15,276) - 3,985 - - 100 (100) - - - 100 - - - (100) - - 100 (100) - - - - 100 - - - 100 |
|---|---|
| 11,391 300(15,476) - 3,885 100 |
|
| 1,581,782 61,389 (67,412) 114,312 (3,885) 1,686,186 |
|
| Total unrestricted funds | 1,581,782 61,389 (67,412) 114,312 (3,885) 1,686,186 |
| Total funds | 1,593,173 61,689 (82,888) 114,312 - 1,686,286 |
12 Description of funds
Restricted Funds
Cecchetti Legacy Fund : Fund set up to enable a project to film the most advanced areas of the Cecchetti work.
Mary Jane Duckworth Award: Fund to support boys in advancement of classical ballet training. Classical Ballet Award: Fund to support boys in advancement of classical ballet training. Barbara Fewster Award: Fund to support boys in advancement of classical ballet training. Stephen Ayres Travel Award: Fund to support travel expenses of teachers studying for the diploma qualification.
| 31 August | 31 August |
|---|---|
| 2025 | 2024 |
- 13 Financial instruments
The carrying amounts of the charity’s financial instruments are as follows:
| £ | £ | |
|---|---|---|
| Financial assets | ||
| Measured at fair value through net income / (expenditure): | ||
| Fixed asset investments | 1,318,775 | 1,371,028 |
Trustees’ Report and Unaudited Financial Statements 2025
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
13 Financial instruments (continued)
The income, expenses, net gains and net losses attributable to the charity’s financial instruments are summarised below:
| instruments are summarised below: | ||
|---|---|---|
| 31 August | 31 August | |
| 2025 | 2024 | |
| £ | £ | |
| Income and expense | ||
| Financial assets measured at fair value through net income / | ||
| (expenditure): | ||
| Investment income | 52,501 | 53,543 |
| £ | £ | |
| Net gains and losses (including changes in fair value) | ||
| Financial assets measured at fair value through net income / | ||
| (expenditure): | ||
| Gains/ (losses)on investments | (52,253) | 114,312 |
Fixed asset investments are held at fair value with valuations obtained using last traded or closing mid/bid market prices as available.
14 Restatement for prior year
The trustees have reviewed the classification of expenditure and income and have concluded that event income and costs should be reported under charitable activities. Prior year results have been restated where appropriate.
The Cecchetti Society Trust
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NOTES TO THE FINANCIAL STATEMENTS Year ended 31 Au ust 2025 g
15 Comparative statement of financial activities and net movement in funds
| Note Income and Endowments from: Donations and legacies 1 Charitable activities 2 Investments 3 Total Expenditure on: Charitable activities 4 Total Net incoming resources before movement on investments Net gains/(losses) on investments9 Net income/(expenditure) Transfers between funds 11 Reconciliation of Funds Total funds brought forward 11 Total funds carried forward 11 |
Restated Year ended 31 August 2024 Unrestricted General Funds Designated Funds Restricted Funds £ £ £ 4,340 - 300 3,394 - - 53,655 - - 61,389 - 300 67,412 - 15,476 67,412 - 15,476 (6,023) - (15,176) 114,312 - - 108,289 - (15,176) (3,885) - (3,885) 104,404 - (11,291) 1,581,782 - 11,391 1,686,186 - 100 |
Total Funds £ 4,640 3,394 53,655 |
|---|---|---|
| 61,689 | ||
| 82,888 | ||
| 82,888 | ||
| (21,199) 114,312 |
||
| 93,113 - |
||
| 93,113 1,593,173 |
||
| 1,686,286 |
Trustees’ Report and Unaudited Financial Statements 2025
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LEGAL AND ADMINISTRATIVE INFORMATION
Patrons Dame Monica Mason DBE Kevin O’Hare CBE Sir David Bintley CBE
Trustees
Elisabeth Swan (Chair) (re-appointed 2 August 2024) Diane van Schoor (Vice-Chair) (re-appointed 2 August 2024) Catherine Hutchon Eileen McKendry-Gray Kristina Rogge Richard Thom (re-appointed 19 June 2025) Janine Griffis (appointed 13 December 2024) Ruth Brill (appointed 13 December 2024)
Independent examiner Geoffrey Frost Blue Spire Limited Cawley Priory South Pallant Chichester, West Sussex, PO19 1SY
Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling, Kent ME19 4TA
Investment managers CCLA Investment Management Limited 1 Angel Lane London EC4R 3AB
Principal office The Cecchetti Society Trust 28 Prykes Drive Chelmsford, Essex CM1 1TP
T +44 (0)1245267314 www.cecchettisocietytrust.org
The Cecchetti Society Trust is a registered charity in England and Wales No 1197857 and incorporated in England as a Charitable Incorporated Organisation No CE028308. The word Cecchetti and its image of Enrico Cecchetti are registered trademarks No 00003383372 and No 00003383373 in the United Kingdom.
The Cecchetti Society Trust
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