CURIOUS MINDS I KIND HEARTS I COMMUNITY SPIRIT CHEAM SCHOOL EDUCATIONAL TRUST GOVERNORS. REPORT & CONSOLIDATED FINANCIAL STATEMENTS YL.4R INDLD 31 AUGUST 202) Cq)mpany Regisiraiion No. 01843219 Chariiy Regis(ration No. 2C)0143 VAT Registration No. 478i95C)19 AEGP3FAI 0411212025 COMPANIES H¢JJSE
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CHEAM CHEAM SCHOOL EDUCATIONAL TRUST (A Company Limited by Guarantee) GOVERNORS, REPORT AND CONSOLIDATED FINANCIAL gfATEMENrs YEAR ENDED 31- AUGusf 21)25 Ditectox oEFuwKe & OEaLiOllS LI D. Jerdins Ci¢rL" th¢ Govemo(s U D. Jenjatis Bnkt(s Natiod IVe$tswrer BattL Pit 30.l1grkei Place vlxy. Berksh. RG14 5.IJ .4wJirors HaF51C LLP SrawrorF.ludiwEs 10 (lueen Street P]ace ld{m. EC4R I.IG ConY Regi5rrAtiOtL No. 01843?19 Chantv Re8Jsrtg1iOEI No. )145 1'.4T No. 478595619
CHEAM SCHOOL EDUCATIONAL TRU
GOVERNORS> BEPORT
FOR THE YEAR ENDED 31 AUGUST 2025
Prtfate by Cbeam'5 Headm#r
l itwtiensdy prowl of the Chem TeAm hs achieved in my 6rst yeat as
Headrna5ter. Ir Js a pnvi]ege DOW to kad the kh(N)] T have served for ovet 25 yeats.
Fot rtse. the bappftess of oat pupd5. the sra(& And patent bLxly 1$ the key
rnea51 of<w succes5. The buzz that [¢5 CheAm'5 dassrty)trts. tottidots and
C[ pjxyitig fields is hard to quatttify bJE is thete ro feeL It duives from the cwious
rnbid4 kn"ThJ heats and comt¥wmty spirbr thxr Glls our khool every siDRie &y.
Happy cldren leatn mote CaY. Chjr roie. a5 a rtOn-5ekcLiVi School. Js not only to
prepAre pup& some of rn5r 5È1eciive setuor %choDb tn the Country. but aL%o ro
prtPre thtm lor Itts11F uncettxirt Wyjrld". (Mjr acadcmic focu5 help5 pupiLs
open door5. Lt is th[ own ¢har#tttr detycloptneAt that enablts tkn ro
chrough vnth Confiden In 4Mvr¢h 202) we bÈtatne tbe ody piepaxAtDLY scbool ro
have achieved tbe .4CE o( ClJarx<rer quality [[r fcrt wthnlkillg chatyc
eduorioti an expbu"4 p]fthed. W(0u$ Etftective way
This appioach is ar the heary of the ttew stttttgy we s¢t (wt d th¢ yeat. (ocused orj tht jouUY oEeach pupjl aloD8 theit
owtt pathway. Fron tvhichever eatsy PLwnt 3 puwt joins us. rhrough ro the end of Ytr 8. thd whethct day pupil 01 bxrdei.
Che2m offen a unjgut 4Jd compkie tducatsrn whtrt tv¢ry thi]d hs tht oppotmnity Ind support ttb maXimC thcir porentiaL
The Lqst 12 morjths hss $¢¢n cooXd¢O ptoKLess # y¢r by ¥w6cgttr chnge. The imp05iiion of VAT ¢)n
fees And other Cost Ptessutts wthia a chaJlengu)g ecorKJmic envoIt. co¥led lower bitth tttes. ha5 Cteattd a perfect
5rorm for the itidep¢ttdent school sectoi. Sadly. rnany pryschods have 21ttidy closed m • W"Ch is npidi
CHEAM SCHOOL EDUCATIONAL TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31., AUGu%f 2025 Fo(tword by the Chaitof GovemoLs The Bogtd ol Govemors ptt5ent innttal rcporr for ihe ye3T ended 31.Iu8USt 2ff25 together vnrh the audrt2d cOtLsobdated knttci21 statements fot the yeaK. We ¢OTLkn that they wtth the regwnments of the Compa¢ue¥.Iit 2(N)6 and the Companv's illtmotandum of Ass¢)oaiioa th¢ Clwiti¢$ SORP 2005. These ncLqI $ratern15 llKlude the teyjits of the Schoot's subsi&ary. Cheam TLadin8 This report •tyd C(011 6rJ¥nd 5ratEments were ippLoved by d)e ¥rRucfuRE. GOVERNANCE AIqD MANAGEMETr Che1 kborA was Etsulld in 1645. It F¢xo • edu¢xtioty in 1958. The CLtttenr Che¥m SchoDI Educati TEu$4 a ch£itAbie company. e5tsb]LShed iti 1984. Its Cotnpqny is 01843219, Chatiry Ryttarion number is 2W143 arLd from l# 2025 its V.IT Re8isrMion numbtt became 478i956J9. The babi]ity of memlxrs J5 ]imid to £1 by wtjtee. The rewieted oftLce artd poncpl addres5 of the Cwy Cheam School knd, Hudjey. Pthshitt. RG19 8LD. The Chanry 8OFtrned by the PTOViSW)ns of the Memornndum ind Atiicics of Asxtixrion 12s1 xmendcd Jlme 2W5 artd wppleoJtt)rary PmSiOrt$ rdatiog ro th¢ B(Mrd olTrusttts oftbe C1)mpY J¥sr OTh W xknh 9022. fe¥kn OC thc GovupJo8 IKx4v. all 21so Ckniry Tntsrees and DArector5 of the Cknvdble COmpV for Cotrymtmes .Iir pu05¢$. #re ele£ted on the basis of Iiomin2tion5 gwj rrfolnttIlOtsS recced &om lOL$ SOUttt4 with a view ro ertsur1 Is knvttse a mix Is p)sble OF retevani slJlis. expeaenre irid perspective. ,Mcrnbets att #Fwinied to serve For a rttm c>£ yu[3 a¥xl •rt t]w"blE 10 5tynd for rt.decDon for fiCt thrte.yat rerrns. memE$ OF the Bcth rt inducted irtto the rirt8$ of the Schcx)l. artd 50 C¢)mpany a$ 2 rtwrertd chgEity, i1dIng boiid pobcy and procedwe5. T£athiti8 eout5es ate otganLsed by the CledL to Lhe Govttoots ttd ort ¥N¥¥l¢d a$ r¢qvtyed..4 rtcord of rAkrung is kepTOn the TrMir.5 6k. S¢W 4tsd ttview its over•ll JT&nagtment arLd control. For Lt kgAI]y ttsponsibje. Each SuirmIE[te 1Y meets at X minitttilm Ptiol to txch tertnlv BO2 rneety¥ to rtview the atC/5 of rhe School's sttare8y and opeAritsrt set our thin its Te of Reference aDd (o rrth rdJred zerommendauons as tequwed to OwtiiJatsonxlSthicturc& Tht day to day cunjjg of tht Schod ts de1ctea to the Hea&)usteL And DiKectOr of Fmance & Opttsti0ti5 iepxr ro the eath terTh¥ The HeadJTJa5tet LS $vpported by bj5 S¢uior LeXdetSP TewL Other execuuve Sulkcommitiee5 exisT ro prov>ae a EonLm fot ttmlinder of the sut(.
CHEAM SCHOOL EDUCATJONAL TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31 AUGUST 21125 Btsrd Member. Boatd Sub-ComrtiiMees'. Finance & raiion5 Teaebiog & I P$Tor¥l & Marketitsg & '. t£4mi Wt]]beiti Admi¥sion& Sit M. J. Harfofd Chwo[GrAOrS.' Com Mts L. J. Mottwya-Hugbt$ Govemoc for Safrguatdia Masttt, ]boroU h C¢)U Mi$ C. J. Htyght$ Govethoc ftsr Safe[dI. Directot Mr5 C.F. Hamiltort-RusseU Ckir of P¥roAi & Weutw Ditccror RUWL 31 .4¥ 21125 Mr H. B¢x¢d.Guvni08 Rcsw¢d 14 Imgt 2025 Mt J. D2bl ted Nov 2024 nco Mr R. W. H8ui$ Chair olTr4rbts¥ & CowtiJitrt¢" Co xn Duectot Mr N. Adams H¢vsema5tu E¢on Coue Mts E. Siooe HeadmasiÈr.Wirtche$r¢t C Mt P.V. ofFLnance & OwAtiODS CornmJ( Dtc1 Mr S. Mine Com Djtecr Mts T. Reevtll} cha of IIDA Committe4 Dlltctor oE.4dtnJsMom, Downe Hou Mrs Y.Y. SwDI4 Lawvcr 1 $4J •125 IlTr These Directors also SCkTe on the Btrcd oFthe Chen Fottrt. STATEMENf OF GOVERNORS¥ RESPONSLBIIJTIES Tr Govertyots ate wble for prew1 an¢)uxi IqM)rt and the Gtwiai srterHents m AccorduKc WLth #ppkncable lllw and Unired F&ngdom Genernlty.4ccepted.4ccoJnttngPr4ciice. of the 5fatt of 3ff35 ol th£ Tw5r of thr rtsuit of the Ttust for thar petKA4. ID 6nancial st•ternEllt5. the Goveinois requirtd io.. Select Swtabie accourAtiti8 pthie5 and thto apply thtm totisistetsdT. Observ¢ the pnncLpk5 and rnethd5 tslthc ChAatstt SORP.. Make iudytrtts arjd e5UtJYdte¥ thxrart rtascxubie and pnth PrtPAre rhe Gnanciai ststtmtnts ott the concern bAsis eSS it is iwpwopiiare to prtswne th¢ TnJSt contynue in business. the p05ti0n of the Tn]st attd to enabk theo) to en5uxe that the srxtemeATS comply wirb the Cow¥nie$ Acr 20C5. Thev are a150 responMbk for sale8VWtding the of d)t Trtr atKI hence EOL EakJDg teaKIrbIt $teps Eo£ the pteytrtrion attd dEtrcuoo of &ud at)d otTrLtt Jxttguhr aCtiTiues. &) fat as Exh of tlje Gownory Js aware at tht time the teport is appioved.. There no Lelevgnt mforrna1n of which the TnJsrf$ auditOC5 are Und and The GovemoL5 baye takeo all $reps that tbev ¢yJghr have takn io Jkukt thern5e]ves of tet audit Lnfoth)ati¢Jn #nd thar the.ltyJLroxs gvate oFthat fQnY&ry.
CHEAM SCHOOL EDUCATIONAL TRUST GOVEBTr4ORS' REPORT FOR THE YEAR ENDED JIN AUGUST 2tr25 OBJEcfs. AIMS, OBJECTIVES AND PRINCIPAL AcrivrriES Ch#b]e Objert The ptincipi Oiiect of thr CIMxiTrble Tnst. Kcord8o¢e with its iMemoL2ndum And .lrtides of As5ttiau<m. LS th¢ xdvRnccmcntof tduc#tson of thildtety. ts&i¢ Obi¢¢ti l. To erear£ 2 happy cttvLtoomcr whtrt PUPLIS can thtive irt all aspects of khool b"fe. 2. To maLllt2in acgdenuc f(Kus aftd achieve the highest acwjernic te5ulrs po$yble for each indtYLduai so aji pupjis gxiti etttiv ro the St0[ xhool tsf theit choice. 3. To gjve pupds a broad. rKh and FAknnced educaiion with the opp?[nIty to Explort a shinc Jn a dE rknee of extr¥<umrulxr actities. 4. TD offtr an pro8tmmt of characrer development undc(wnned by cxc¢ll¢nt pasto(3E caye io efisurt all pupd5 kave Cheam well eqwpped wexth¢r tuwrt ch2Uen8e5 Ir thtjr rtcxt schoDI 1xYd. 5. To mlintsin J sowjnd opeAtkthi•i gnd 6nJllLi b7se ro eNbk all of the giw)ve. The T¢ a Prepxw aThd Prt.Pr¢prttory dly sthooi with Foc tws and 8Lrls a8ed from 3 to 13. The Eee5 gre set it the mÈnunum level necessary to pte5erve tht Viabc of tbe ScboDI to 52fVa contirtued Pro510 tsf a 6t5r<lw tducauon. Key An89ern[ Perso[1 zeMuneilOD is de¢erTnwed by the khod'$ R£murtetttion5 comr[[¢¢ i7S[ sectot in cortdeAriOn of othet ieitvant InmItiO0. Anv tevision5 to rrffjuo11D pobcy ate put by that comrrnttEe to the Bojcd for appm21. Pets<ryur Eguabty. niFvwtyaAd Cheam wekornes Ltdivid &c¥D batk8rwrtrf$. To admiE 2 pro$ptCliVt pupjl. the SchoDI rnu3¢ Ix S¥Dsfied ir be ab]t LO tducatt devdop thar prospectivc puixl ro the besr of theit POtCDD21. Fami]lati(l &vs 255ts5rntnts ar¢ ufwjertthrt w satisfy the khcol
nd pwsptcttve patenTS that potttsuai pupi15 cao ertioy benefir from the styk of
educ2uon we provide. kndividu (grOund, Sex. race. Etly"on or orhtt ptotected L£ctensri¢ att 4&stegath iti thi5 •SXS$trtttr pwc¥L Tht 5¢hod A make ttg50n#ble adJuSttneots ro meer the rteds of pupds or 5uFI who bave specific need5 wknch tequire . (rom famthes who wwid othcrwse riot bE abk to affd thc fecs can acce55 the tdtscati¢>n thc Sch¢ol offcts. Bursaries hat btcn anslable Eo all who Me out general entry Lrquizemcnts and •re only on the bas OF wentll] fflesns or tts tt]ievt hdship. The Schcol tsot have kntge endowftttts ot iAvtstr£tsts 10 such awaids and the IMF10 of V.4T on Eees from JAnuacv 2tr25 5 made 6Jndirtg geEieKally rnoie d20UeTrptJg. Therefo¥< the Sc1wL will corttitwe to Gtsd A bAlxce bttwcen fuu ftt.payin8 Patent5. rnAnY oEwhoth make cort5xkt%b]e petsod 52uific<s ro 6Jnd theii children's education. and tho$¢ bene6ting fro such a. yeu. rhe khool oFF¢rtd rranti0 wppon to existing [nIl facll¥ addirional pLessurt due EO N".Ir. Ovet21L the S¢hool xbk w $uppott 47 pupils (2023.. 21) through rttea05.tesred bwwyts. Three of these burs¢$ weie wotth 650/• rnoie oEthe fet. Fot tht yeat the EOTal halut of bursa(. all0rtC¢S and ieryu5yons ieduced the arLnuai fee by £587.440 P024.. £513J70). Plans The Governo[5 rtview the khooi'5 oWrivÈS xttd $tra(egJes every vtsr )d change5 if nd as rcqwrtd. The pllpost of this Éo erLSUre. thrxjgh sourtd ttKuIxr Sctutirtv. that the School contioues to bt a rnarket kader through the prtsvision of modern artd &5r. cLqs5 texh The Govemots bayt teviewed athd appioved tht ble$S plan for the [ financi ?Kear rvvieurd the for tre year5 j¥ /ppiopiiare SCCIWLO g Foliowllg the depa[[¢ of the pEiW HtgdtrAsTeL OTh 31".4ugust 24 and the appo[ment from I &ptniv 2024 0lNidt Ildbank 35.Ictin8 Hexdtna5tcr. the Govtrnor5 commenced • iigorou5 p$& idthttfv and wirtr a swtably accotnpbshed Successor. Havin8 COtL£luded tms P(£35 Ln December 2ff24. the Board announced the pernMnent appointment from jUry 2025 tsf the.1c He*dt))asttr. who kad ptoveTh ht Was Ehe btsr caDdi&te to
CHEAM SCHOOL EDUCATIONAL TRusr GOVERNORS. REPORT (coDtinued) FOR THE YEAR ENDED 311t AUGUST 2025 STRATEGIC REPORT REVIEIV OFACHIEVEMENTSATr4D PERFOBJfANCE FOR THE TrEAR Sts¥tegiG The Jt]detthknt scbcd sertot cooriEwe5 to fxtt seytsxi sttucwd Ch¢08C$. The impo$LtiOn of VAT on. fees JJnv2ry 2025 ba5 ¥celertyd school c105ure5 ¥ud Jnatker conw1tion. patricu12rly amongst prep. 5thoD& This sttong otw b¢a41w combincd dI tht low¢r bitth At¢s and ernploymeftr costs akeady IF"ClIng the 5Ktor. 15 many schoo15' 6Danc¢5 imoreover. 1 UK etOTrOtny (a() bs8her raKa10 and lower Jnvesrment Jea&Thg a miteriai or taTnili¢$ who (an ffod UK pavAte educauots to relttare thtit lives OV¢LSeA5. tidll thtiL cbJdtets's educarfi. 'tbRhi fo qu¥kn"Ty' IL DIKetiiing pateors gre reAsts]#iy f(lsed vaiue.Eor.n)tsnev athl sraFAly. Cbeam has VJlThstood Several exter021 shocks al other cl4lknges over Its near4(Mkvear kn"STOry atxl t00sot h35 rttnauJ¢d Dtle OE tht leading prtyararory xhoois Jrt the covntry..45 a tr)n-5¢kcDve SchwL 11 has a ptoud recotd oFpceparu¥ pupils to secuie pLaces at sorr of the n)osi ectt seJJtOr sch15 irt the wor]d. The comet5WTrE of Che3m's education Js the deFElOprT oEits pup5. 50 thar they ort eqUPed to Weath chaU¢J4¢S 5 succes5&Y as Cheam kn weathtrtd tts own rhe past. The next lew Ye A force on au ol the UK'5 ep¢I sihoojs. Chtam has shown over tht t 12 tYLottths that it cats susrain 2nd rej iTself when change 15 dernlded. (her tlus period it bas Sus. and m rngny pCeS irnproved. I it de]ivet5 pah8wcal expuu$t. co.curriadat OPPOINrnty d tscepuoll21 pastoThl rate iti an coJtstandu¥ coutttrysth 5etring. It has been bJe to do so bec#use of elfective 8ovetnance and leader6lllp sTzbJcturts. effiaeni orwisatton and executwTh capxbiiity and t0clAI oper4uonxi ¢xCtlltn¢e Wharevtr the tvwre Idds. Chen ithrd% TO Lemaiti weli-posjtiofltd ro CthIDnue delivetitig irs ptemium ethKationai prAluct in a c4]m con5i5tent manner fot TTW)y Ye ro A¢4detiw & PAStoAJ Cheam strives to be 3 happy khcd. bec2U5e happy chiknn team moTe tasily ¥nd happy staff enjtsy t¢3chJng th. Cheam f05tU5 CEtrtOSitT that eiKW5 a lovt g settin8 worlloDn8 4nd Support. This approach ts captuttd io che1.$ core V9h%." Curiou$ Mind$ l Kityd Hcaffs I Colbthuoity Spirii. to its knst ins(U0n Jattuary 2023. the bdepeodthr kh¢oJs b)spectoAte tated as fxcelknt. ith the 9uab.tv of pupth. udernK aJHI other achievetnertts. tht 4uaknty ofthcir OrIal developmtyt. In Ntatch 2U25, Cbeam Fci)e the only prepxtatory schoDI to have ach"Leved the .4CE Scly)ol of Chxrnrtec qua" for widertrknog ¢lJawtet edwrion iti Its Lyjkir. plantte4 consci(xts and refftcuve way". the 8chw] has combined it5 ulfcliecwai pwputy m this xreA w¥th 3 propnctxry ttthftology pLatfotm to ¢rtao the Chtam DiPl(x, aljows pupib ro measute and .4cadenJic sv¢cess catt bt itt several &Y$. [1(ay, xhoknhips have been 2 useful Jndicator. githovgh senKJt xhoo15 ate Lttcttasmgly awatthg tbe5e dutll¥ thdr firK year (Yezr 9} rather than ar Year 8. NoAefheie5s, ClJeAm'5 2025 leave(5 5ured 18 5choknl¥5 from senjor 5ch(w)15 P024. 14). which included qn Ac2demi¢ ETlubJ"tson ro Win¢hesttr Cde8e wbKh ws an exceNiot412ckneAftL .1$ e&JcaDo iDStiwtyons prC8ttssivelv dowtt Academtt ot hcxjsirf in favout Of£hct ttasts ptcfeLred by todafs empbyer5. Cheam devekpng other mettics to tradt the prngxe5s of egch of its pup15 and rnea5Ute how wd] the khow)] pLepul Its kS for ttxt 5¢ep. We now i¢ok. k55 IDtendy or scholaLsl¥ Courtt ?nd tsmendy #r the ol secutit)g a phct xt th ftrsr-ChCC destitlaiion. We art to teport that m 2025 ol Che9m'5 Yeax 8 pupJs left to tyke up placc at the stsuor sthotsl oEtheir clJoi¢¢. The quJJty of Cbt¥m's acaderw ar pastoal offer conunue5 co undegiti dern fot School pJ4tes. Nur3erw ajjd Prt-PiCP Ictsrtg a5 a kcy th&catOi OE fvryjre Prep School dtt)uttd. .Ivcta8C pup]l ftumbcrs {exdthkng NuThtsv} were 35i the year (2024.. 361). 11111
CHEAM SCHOOL EDUCATtONAL TRUST GOVERNORS, PEPORT (continued) FOR THE YEAR ENDED 31¥1 AUGUST 2$ eA¥tiODAIPenfr¢Eu4nce (colltiouedj cUrncu 0viUeS gv¥ibbk WL(b truty our OppocLuwiies Jndude ltsrw ro pl#y golf on Chen'5 own 9.hole coutst. thy.pigeon shErt ckntnbi I$¢ nditig and eveD plxyitig the baEpipts. Jn i wde tange OE I11ble C¢}hent actitS Ktv io all our enxjchment activities Js that thcy are puryoseFd 2nd cre21e wavs foI pupQ5 ro &scovei new inteie5t5 and devdop broad 51ill5. The School coaiiLiue5 to publL5h Lh¢ Ch[(>¢ eAth year. a pubbcxuon thtLog back ro the ety 19(D5. wbicb yarttr key events and the xhieYetD¢ttr$ 2ctoss all these etixicbmellt 2ctiviu¥. The offets a btod DnB¢ o[e&KA[1i hciJLtie5 to chililren of nrYu18 gbLbue5 2nd mtercsts and a n]xtttt of Coutse rtitrtsts arllY the matntcn¥n¢t Xtbd iEw)rovttn¢nr of its iD&¥$tru¢wT¢. .1 5vrnmary ofapitsl cxp&)&"turc dufyig the 2025 yeAr is pmvided in the Aext section of thi5 report. Foliowsng #n i¢thpeodenr review of ITS Ultexitig provisy)n. * diverse pwl of key stkehtslder5 From across the School eiccred 2025 to outsvJr(e Ch.5 serwKes 10 CbdptsrOKt. Part of the Impact Focyj Gr¢)up. ExisDx% sjff w#e TUPE rtsnsfetred on the ctsnrrncr daft of 1 .4u8Usr 2025. #nd new equwnxeor proviSion¢d ov¢t the sumrntt. llKiud $>#[lOn of x Jxtw ovtn fw horttlladt ta4. In Febw 2tr25 the khwl 5ubtNtrtd a itsypLqnned appb"cation for a new acce55 and pede5ttian z(>vtmtuts xctt>kS rhe Sile. Ortce 2ppmval has beeo 8ranre4 trtipiemtnravon be pwdently The Governtsr5 have httd of the Chatiry C(>lluOn.S ¢)n pJblK iYne6t and aun to enswt ttr&t the of educ2tii)n offered by the khcx)l )d the faciliries th21 it posse$$e$ are. wherever t)55]ble. of benefit to the public Jnd ith PatDcu12t the bcjj communLry. Tr louowing organi52ti0ns and chqalyes bve ine6r¢d dup dxe 2025 from doDation5 by the SdK>DI or by nd5 event5 hekl ar the School.. P.4CT (PartThts ]d ChLkbctJ ToFther}.. Teddfs Wish. HAmphitt Utdicai Furtd. Woodc Spwn Chddttn's of Rugby), Cancer Re5eArch. p,5. Wcsr Berkshyn F(yxlEYdnk: YDun8 ,tr. Tht Royal Biitish t£gLOtt rkn4wgh the Poppy.Ippeai" Ind Yt)urt8 Ilirtds. ChcAm ILdps Ma¢¥1n it Htadiry Communitv Shop •nd P05t Office. Is well as the VJU4e H1. The School ilso supports and dOte5 ro Athit)rerrtCC fijnd of the I[ chutcb ai.Iskfthd HilL DwiDg the 2025 FEar. the S¢lKx)l also dcxured a new notice Lwjth tt> the .45hFord HJU with Headley P#ish cnCil bosted a ctOSS-cottnry eveftt wl ItS50n5 kn the ]Dra] pw schDoI KiTh8sclere. LAKai club5. 5POrt5 teams ld corrunwrff 8tyUPS atso benefit Li}g (he School's faciJity¢s.
CHEAM SCHOOL EDUCATIONAL TRusr GOVERNORS, REPORT {coAtinucd) FOR THE YEAR ENDED Jl¥t AUGusf 2025 FINANCIAL REVIEW The 5trAt¥¢ cottiext tI5C{l gbove inFo£rned the kcy kn¢1 ?ims 2025.. To dclnTZ A JexD but Stthdkv¢loftsetw¢(ttV¢. To Lijn a su5ttiubit opÈArioA &om y.t0-year. b4[ incornt Emm #ll sout(es wit)st eXPetiditye on sttff &id nort-stsff costs in thar vear. that achieves a Suffiaent sutp]us to leYest m the Ongoi upkety and irnpLovemettt o( the School's rothJ£ri¥tirpcwitsF¢ ¢xsA Oow. To rt.Jnvest In the khool'5 An5[tte only 5urplu5e5 From its day ro day (tt.b7dCd ape(%ions. order 10 preserve and 2U8rnlt the Sclwl'5 cash reserves in anaciption of challewg trotke¢ c(xNknuon5 txxttEhted by the impo5Jtyon of V.4T OTh ftts. Retiiry ush ttsel5 To pttserve the Sch¢x4'5 reSince to market unccrtatnry and unpLqrtrttd aftd unewcrcd evtftts." and co rtoiti Dte OptiotiLry for inve5rment, by ner Lrtcome £4?3.4 (2024". £135,2Y4. Ittcortt fLorn tileS ¥AS £8,674J74 P024 £8.827,1761 and exptnthturt on chatirable actLVities was £8.471.191 12024.. £8.82G.1541. Fees receNAbie wtrt matwnaily lower Foliowjng the khool's dÈtiSiOn to pui In plice tran5JtyOtJal aEtsngemÈnts ro wppon tsting fwilies tht earlier than expected wition of V.IT ort fees ftom JanuatF 2025. Iwr year-on-yeat expeo&'DAte resulted ftom cost OptsmallOn in trachirtg staff., impL0V trdnsptrff t]eer man38eao[ and Dew mfxltls Jn 3JJd ftiE)rertance teams thar leVErA new technol and supplv chains. Wd&< costs were matwally up 5 the khool inktsted futther Jn its careting offcr. These. and other c05t inueues th ro the governrf$ rtmovaj of busines$ r¢S rekntf attd higher employe¥& rriOrAl CoDLriTr>rS. by tht School'5 prcrtcrive me2sure5 Outlitied above. Results The tuIJ financi resul fot vtAf axe ser ourthn the oaterneotof ftsiaftoai 2crtViTies on Pa 17. Othex 50utr¢s OE tton.Eee uKome rotylled £285J2O. thar OE thE preFitiUS yeNr (2024." £138.589). Intcre5t ttceNable fiotn the kh<x)I's rttasurv strawgy cotsrijwed to mthe a siyjificartr corttnbuuo ro8erkn With tble grot doDation UKome from the Chcam Foundation. enablin8 hrihei reLLivestmeJJt ifl the School'5 5poion8 tqvjpnent nd wideI tdLElXtI PW5ULts Jncludthg ovtdooL mus aAd beekeeping. OtbuJocom¢ NewTr Netball Lwe its cottttsci within the VUL. 2nd the ntwiy fofftd Etsgh'sh Prep Schcxjls Gickei .Is¥LKWiOtJ {widJ ovet IIK) mrrnbei scho¥)1s15elected ClYarn ro pdoE Lrs t$t ie5idenr/l tucket cxmps. Further wt)ps arc p]anned m 2026. Other opptsmJniDes tn 2WI7 arc alteady Ing thycussed. the year. Che2m 6nalised 1 6ve.yeat rnaior ptogramnK of IT &Ctc [<VestMent. uftdeoLntik its diy"raJ karnmg strxtw atKi 0ttIll effi reSence. The School bene6ts Erorn being cloud.ba5e4 hving ¥ scrond Jnrcmtr bn¢". o¢w secure ptLnun8 Jxlut¢¢wre. OEhti ¢hxJoloEy iryroverptrtts included LoboI mowets the Schwj's exrnsivt 8tounds that have kd to . WIghtsg of Tllcuwn deanets artd integrnuon tsE seturity 5yStem5. SI safery inwoVettt5 dea Ltpt2CeDU[ pavJD8 xtsd 5t1xmvk 5¢ved attas, new 5igllage irKI fijtther mE#SUf¢S io t(trol rraffic movements. The School iso ¢te4t¢d ttÈw common tooms lor it5 bcwdeE5. fow patt OF the tww 5ttare8y to rewr4a&ne irs bo•tr. Cap1 expettditute in the ve¥rw*s £154J24 (2024". £310.97T). The $th( deFKW"fS c¥h fvE)& ar vArJou5 rates of mterest baJ]ktt%. .4t yeat4ttd, cash and ¢9ett wert £2065.7W Ptr24.. £3,349.75?) aftd cuttetLt a55et itiVt$rtsts £2W.000 (2024.. £2yx),IXI4. These tund5 comptye". £4054,852 rtl¥red ro p¥epth ftts wluch Ire held stpatare. Dng- fenced account5 (_1.. £i,CW.fy57): tftxtgtrtcy artd $tsxregi£ Tesetves OE £1&25.000 120?4." £1.52i.OW)' artd daw-itrday WDtig cash oE£I.T19.741 (2024.. £1225.3LYJ). Thexc is also £6.187 e024.. £9.3761 In Accwtsr dedi¢¥ttd to Pie-Prep. C#pit#l C#Jb & CtttreJtAs$¢t ILvrstmCk7ts
CHEAM SCHOOL EDUCATJONAL TRUST
GOVERNORS¥ REPORT (¢ooiiaytd)
FOR THE YEAR ENDBD 31.. AUGUST 2025
FINANCIAL REVIEW (conrthts¢dJ
Rcoepdj
Fion year-iTrycxr. tht Scbw]'s bud8tt is str ¢0 ¢E)abk an appwpnw l¢v¢l OE investhiettt. This is
ballnccd ¥3insr pttservirtg ¥dequAte fe5erve5 10 safc8u3rd the iorttrtetm 6nqnci21 health of Cheam. Sectoc
Ixncljmarks. BO( 6dvoary prtsEessionai txpetience htlp ydt these de¢lSiO$. Rtinvtsrmeht
Cart t2kt tanY forn
Itviews tor all stAff aruAllY to atU¢L lod
high qualj'ry in(bd..{dth. to invcsr
acros$ the School staff devdop aTh4 adnCe the
4uali6cation4 shlls behaviouts tlttessary
FL¥kn_ to rn1 5a(e #tkl re]i2bie operatitstys J
to wrovÈ tontltiuosty tbe 9lty of all asxts
by PJPLIS and 5rdff.
PT¢¢weiiieni 5tratws w capwre ef6uencKs And
5ecuLe unwoved vajue
In 2025, Cheam $trenKth¢n¢d its sttiioi ltAdts$h rtAt
d Sthool 0159n to execute its Thew srrAt4y. The
pupil pathwav ts the &howJl'5 [[W•d[ lor enabl the
porcAtiAi of ¢very child On Journey to SÉÉrt8 a p&e
c(Mllltry. With 2 balanced cutricukn Iocu5ed on ac4ernK
CCp
CHEAM SCHOOL EDUCATIONAL TRUST GOVERNORSY REPORT {continued) FOR THE ryEAR ENDED 31u AUGusf 2015 STREAMLINED ENERGY AND CARBON REPORTING (SECR) DISCLOSURE Cheam LS 0t obb"Bcd ro ttport its erteL8y use and cattK•n emiss$ under SECR buttakes rhe TW that voiuowy disdosu ats importynt part ofirs cojnmiunettt to uts&rst¥ndthg reduciftg the khcd's enviroDmcntsl imp¢L arJ1¢Year In 2023 the SchcA)J bascjtned Its caA)on foowxtit as pxc of its MlE.year esotes rnasteLpkn 2nd carbon Ktduction strate8y. The School airr ro te its tep1 of encr&v use catknrt tmissiw evely thtte yeats. The tt teport L5 dtte in 2026. Enet toslsurn used ID cCulate ¢thi55iOUS E[DItsOn$ from coo)bustton of Emis510ny from combustioa of ke¥05¢tte be Emissions from combu5CLOn of for tr4ns Emis0$ fior urchased electti Tot31 6$ ¢ce bag¢d on above lonS ratio 1.626.850 tCO O_ tco ICO?e IC02¢ 02e/ 214 75 363 0.97 Cheam's sDJdeni.Icd ¢ttrconknittte 0¢ w $teS$sL tht Ec(thbool$ G¢ Fkng. wilh disuttctioTh Other Ible a¢hievcments were." Wasre llJtJa8emenr - the School'$ W se8kY8Ated recyc syst¢m {alrcady compliAnt with new fC8ularic4ns iDLruCed Ln li lych 2025) s¥ved over 11 0¥ m the IASt yeat. Rtduced diesel usxBe- the thtroduc[n of tictttK roiwjt xtml of HFO kn th¢ y¢ar u expeckd to $2ve 20 tcort per annutr4 Revse - the klKx)I c(xJtstw¢tl ¢knAThI Ltduction genetally bv pICIPag m a bL¥)k exchange o Wodd B¢J¢)k Day and redisrtjknttsw ciothts thtw the B¥25Ch( . Beekeepitig - the Che) Fwthiioti 6Jnded oosite lJtF¢S eJ121 ¢ducaTioThal oppomjnities for pupAb and the futwe ptducooo oEIoc31 hY f¢r use bv Chewn'5 CateLitig turn Jn tratch for pupds and p¢Trts. Cheam cOrtUAu to Ech5¢ l(YPh PEGO.Ipxked rtrtwaE4e clt£tEiCiry. Eco-schools Metbodolosxs c<¥til¥1 of&sdt¥l Cheam comtW55ioned a revjew of the consuryiion and a550Ctated catknn cniLSSiOn5 of tsts faci]iue5 bv a specialist coul1[lcY 2S of the School's devclopmertE of 2 mdti-ycat tstste& tJJasttrpl4n aod redKuon strategy. Trtnsporr erni55iOnS wete based actyjai mJea8e ttcorded in fleet 14books E)d statf exSC ckn. C(Ver5 factor5 Éw hdities att detived Irom current gnd &ctors ¢)uthAed UL SAPIO.l. the SNndard EneL8y PttKedure ser by the Govemment for Cfjmpbaoce wjth ener8y 3Ad cakn requtrtrnent5 5e( wt under exL5tsng buddjng iegulaaort5. TraFrt em15sll5 art Cilculattd using a methodology 4bgned rh the tVBJ/IFBCSD GHG makes use of publicly ¥vai12ble, nauonallv reles7nt fjd reTlY vpdgted CgTU55JOn factOLs from iepufbk And recogtiistd soutce5. This uses 2021 uKG¢yMlM GJ¥¢AèwffJÈ GOJ (GHGJ F&awKfvCJAJ Repw based oa Tb¢ Ce•AW (Trprrfwr, Roort) •rtd L£mrA4 L2ab¥b"ty P#kt• Rtprt) Z018 Jod TeJ•red gwdance conwrtd irl
CHEAM SCHOOL EDUCATIONAL TRUST
GOVERNORSY REPORT (coxktinued)
FOR THE YEAR ENDED 5] AUGusf 2025
PRINCIPAL RISKS AND UNCERTAINfIES
GOVert[S rou4neiF tnotitror the School's ¢Dviues arnl TeFiew tht mltor iisks faced each Df Il)t pxincipAI areas
of thc School's OtrAtOAS Irt rhe Op&0 of the Govemots tht khcd has estabbshed re50urce5 and £evLew 5ySteFns which.
urtder norn] conditions. should quow these nsk5 ro be tigated Jevd in its dAY-rdAY op¢ollons.
In patticU. lh¢ GovtmoEs have yJ¢ttu&td the nJxjo¢ otsrtttiwls as
Rtpotts SuEgtst 11.IXI>I3S pupds kEt tFK mdependetst xhoDI Sec Jn the 12-months
Foliowwg the Mnposirion of V.4T on fees. repre5entyg aroutsd 2/0 of pupil$. OvÈr io $¢hools ve
dosed. It 1$ exptcred rbat the irtcteased cosr ro patents of pnvate educauoo wlli corttinue to see patents
delaying wben tllar chi]then jojn fee.Y¥ sch
CHEAM HOOL EDUCATIONAL TRugr GOVERNORS, BEPORT (cootinutdl FOR THE YEAR ENDED 31M AUGUST 2(Y25 ThLS rept and consokndared tcIal 513r¢inenis wert apprtowtd by the Govern •t tbax Board rr*ettng on 28th Novetnbtr 2025. Sir Mark Harftsrd 28 Nov¢mber 2025 13
INDEPENDENT AUDITORSY REPORT TO THE MEMBEILS OF CHEAM SCHOOL EDUCATIONAL TRUST Oplnloll We h8ve audited the consolidat¢d financi statements of Cheam Sehool Educational TrLESt for the year ended 31 Au8USt 2025 which cotnprise the Consolidatd Statemetht of Financial Attivitits. the Group and Chitabl¢ Company Bance Sheet, the Consolida¢ed Statement of Cash Flows and noies to the firtanci 5tJt¢m¢nts, including a 5umrnary of significant accounting policies. The finantial rewting framewoTk Ihal has been 4)plied irt Ihelr pieparation 15 applicable law and United Kingdom Acwunting Stand8rd% includith8 Fithancial Reporting Standard 102 The Fino4rycial Reporiing &andord opplicoble iht UK ond Rtpmblic IrelaRd (United Kingd( Generally Aecepttd Accourtting Praciicel. In our opinion, the finan¢iaJ statthnemts". give a true 8nd fwr view of the 5¢ate of the Group and partnl ch8titsble wmpJny'5 affaits as ot 31kl August 2025 and of the Group and parent charitable tompHny'5 tNJvement in fnds iD¢ludinR the inwm¢ and exnditre. for the y¢ar thth ¢nded- have been properly prepar¢d in ¢ordance with iInited Kin%dfMn Genernlly A¢¢¢pt¢d Accounting Practi¢e' h&ve been pr¢pHrtd in accordance with th¢ rwyir¢ments of the Componi¢5 Act 26. B55is for opinion We eondueted our audit in accoTda¥Ke Int¢rnir)nal Stajthrds on Auditing (UK) {ISA5 {UK)1 ond oppliubk law. Oui responsibilities under Ihos¢ stsndards are furtheT deserib¢d in th¢ Auditor's reSpSibL11t1es foT the audit of th¢ financial stsrements section of our rew)rn We are irtdependent of the group in accordwKr with th¢ ¢thital qUirEM¢ts That are rclcvant to our audit of th¢ fiDan¢iat statements in the VK. including the FRC'S Ethi¢d Stsndard. 8nd w¢ hav¢ fulfilled our othtt ethical re5ponsibililie5 in a¢¢Ndance with these requirements. We b¢li¢ve that the athI ¢viden¢¢ we have obtsined is sutyicient and appropri¢ to piovide a blS for our opinion. Conrlu5ion$ relating to going tontern In auditing the financial styteTnents, we have Concluded thar the vuse5' use of the 8Otn8 concern basis of accounting in th¢ pr¢paralion ofthe finan¢iai stsiements is appropria. Based ort the work we have perfone we have nor id¢Diirj any maierial urLc¢rnainiies relating to events OT conditions IhaL irtdividually or colletlively. may signifiwit dbt on the Group's and of the Parent Charitable Company5 ability to continue as a goirt8 COtKem for a Peri of ¥ l¢aM tIv¢ months frorn Wh the financiaf st¢ments are authoTj5ed for issue. Our responsibilities and rtsponsibilitits of the governors with re5peci w going ton¢¢m or¢ described in the relevant sections of this reporL Other Information The Governors are responsibk for th¢ other inftyrnafion. The other inforniation eomprist5 thc infornjation includ¢d in Ihe Governors, Anntsal Report Ow opiftion on tht financial staments does ttot cover the other information and, extEPt to the extent otherwise explicitty stated in our rep(xl. we do not express any fomi of a5surantt nClUSiOn thereon. In connection with attdit of the fjnancial stateTnents. our re4Jonsibility is 10 the other information and. in doing so. consider whdher the other informarion is rnerially irton5jStent with the firyanci statem¢nls or Dur knowl¢dg¢ obtalned in the audit or othm¥ise 4¥pY3r5 to be mattria]ty misstated. Ir we identify Sh material ino)nsist¢JJ¢ies or apparent material mis5tarem¢n we arE Te4ULied to detennine whdher there is a marial mi55tatetnent in the financial Siaternents or a material misststement of th¢ other infomiion. If. bas&J on the work we ho PErformed. w¢ wnclude that there ts a m8riat mi55rat¢nJeni of thi5 other information. we are required to r¢port fJcL We hav¢ nothins to report in thi5 Ttgard. OpinioDS OTh Other rnat¢er5 preseribtd by the CoThJpan•es Aet 2006 In our opinion. bd on th¢ work undertaken iti thewjrse of the audit.. the inforniarion giv¢n in th¢ Govemots Ann Report (which irwr¢5 th¢ strat¢8ic r¢port gnd the Directors. Tep)rnl for the finan¢ial year for which the financial 51atements ¥¢ pt¢p8r¢d is consistent with the rinan¢ia] statm¢nts" aThd the Gov¢rnors' Artrtual Report {whtch the str¢gic r¢w)rt and the Directors. report} has been prepared in 4c¢ordartce with applicable legal rwuirements. 14
INDEPENDENT AUDITOHSIREPORTTO THE MEMBERS OF CHEAM SCHOOL EDUCATIONAL TRUST {continued) Matterson whlck we are reqalred Io Tewrt by exctptlo In the light of the knowledge and U[EderJ1ng of the pareni charittble company artd its environment obtsined in rh¢ ourse of the iudtt, we have not iderttified rnater1 mtwiements in th¢ GovernNs' Ant)ual RetX)rt (which incorpoTateS the 51raiegic r¢port and the Dir¢ctors' report). W¢ have nothing to repNt in rtspect of the followihg matttts in relation to which the Compattie$ Act 2()6 qUireS us to report to you if. in our opiniffi". adequate accounting records have not been kew by the chtsb1e compkny. or Te(urns adequate for our audit have noi been received from branch¢5 noi visited by u5: or thc charitable company financial 5wements are not in agreem¢nr with the accouniing record5 and r¢tyms' or cerrain di5cIo$uT¢S of Gov¢rth)rs' remunerotion $Ified by law not m]e" or w¢ have not received all the Infoation and expla0$ we require for our audiL Respon5Lbili¢ies of GeOr$ for the financial ststemtnts As explained more fijlty in Govemors. iewnsibilities statement set out cffl pa8e 5. the Governors Iwlw) are also thc Directors of the charitable company for rhe purposts of company lawl re5p)n5ible the Preparation of the rinan¢ial 5CentS and for beirtg satisfied that they gKve a true and faiT view. and for such inrnal control a5 the Governor5 determine is necew to enable the weparation of financial 5taiemeots thai are frc¢ from material MIteMen whether due to ftaud or ern. In preparing the financsal ststements. the Governors are responsÉble for assessing the charirable company's ability to continue as a going concern. disclosin8. as applicable. matters rclated to going concern and using thc going concern b&si$ of accounting unles5 the Governors either tthtemd to liquidatr the Broup or the parent charÈtable elxnpany or to ¢¢as¢ operatioths. or have no realistic altemativ¢ to do so. Audltor 5 Tespottsibilitits for tke audit of the finncil stteAeots Our objectives are to obiain re&50nable assurance atKut whether the fitwictai ststernents &% a whole ar¢ free from njaterial misstatemertL wheihcr due to fraud or e¥tor. aThJ to issue an audiior's pOrt that Includ our opinion. Reasonable assurance 15 a high level of a55urance but is not a guarantee thai an audit conduc4 in accordance with ISAS {UKI will WayS detect a Materi misslattl when it exists. Miss(aiements can arise from fraud or error and art ton$idcred mateTial if. Individually or in the aggre8ate. they could t¢asonably be expected to influence the ttonomic d¢¢isions of Use taken on the b&%is of these fin¢la] swements. IegularitIeS. including fraud. are inswices of rton-compliance with laws and re8ulions. We design procedures in line with our Tesponsibtltlle& ole aè<)v¢. io drt¢u mattrial rnMents in re5F¢Ct of irregulariti¢& (n¢ludrng fraud. Tht extent to which our proredure5 arc (wble of dctrciing irregularitie% including fr4ud i5 detailoj below." Based on OUT understanditjg of th¢ ¢haTitsble company and industry. we id¢Dtsfi¢d that th¢ principal risk5 of noo- ompliante with laws aTrd r¢gulation5. Safeguarding and EdUrIOn ACL GDPK company law and charity law applicable in England and Wales. and wc considered ihe exni to which rKJn-compliaThtt tni8ht have a mrial efftct on the financial ststements. We 50 coldered those laws and reglationS that have a diTect impact on the preparation of the fJnart¢ial 5tatrm¢nts Such 8s the Compknies Act 26 and ChaTitkes A 2011. We evaluated mthag¢mcnr'5 inc¢Trtives opportunities for fraudulent manipulatioTh of the financial s¢ateTnents {including thc risk of overridc of ¢(mtrol$} and detennined that the wincipal Ti$k$ w¢re related to managemen¢ bias in attounting estimates. Audit pm¢¢duYes perfornied by the en8a8ement te•rn iti¢ludgJ: In5peclion of corrcspDndcnct with Tegulator5 and tsx authori¢ic5' DiscussioThs with management Iluding consideration of known OT 5U5pectcd in5rance5 of non¢ornpliance with laws and regulalion and fraud. Evaluating management's controls d¢signed to prevatt and ittegularities: Identifying and Le5Lingjournals- and Challenging assumptions and judgemenLS rnade by managanent in their critical counring EStimat¢s. 15
INDEPENDENT AUDITORS. REPORTTOTHE MEMB8RSOF CHEAM SCHOOL EDUCATIONAL TRusf (tiMitiuw¢d) Audltor's responsibilities for the ¥udit of th¢ fininei•l sttemeots (¢ontintted) Because of the inherent limit31iotLS of an audiL there is a risk that we will not detect all irregularities. itLcluding those leading to a material rni5Stat¢rn¢nt irl the fin4nGial stwtrments or non-eompliance with te8ulaiion. This risk incr¢&ses th¢ more ihat compliance Wkth a law or regulation is Temoved from the events and transxtions reflecttd in the fLnancial statem¢nrs as wt will be less likely to bEorne awatt of instances of non-cimpliaftce. The risk is also greater tesardrng iJTeguiarilies {ul[l8 du¢ to fraud rather error. as fraud involves inteThttonal conc¢meN{ forg¢ry. lISlOn. omissiw ormiSrepsertt8tl0n. A further description of responsibilities for the audit of th¢ financial statements 15 l¢xateiJ on the Financial R¢portin8 Council'5 websits aL' www.frc.o This dcrIPtIon forn)s part of our auditor's T¢POrt. Use Of ollr report This report is made solety to the GTOUP and charitsble compw's member5. as * body. in acwrdan¢¢ Chapter 3 of Part 16 of the Companics Act 2006. Our audii WO hd5 been undcTrnkcn so that might state to the charitable company'5 member5 thos¢ matters we aT¢ r¢quir<l 10 stste to them an Audiio¢s Teport ond for t)0 otheT Purp¢. To the fullc5t cxtent permitted by law. wc do not 4pt or a55umc responsibility to Jnyorte other than the charitable company and the ¢tLaritable comparts m¢mbers as a body. for our audit Wotk. for this or for the opiniotts we ha forrtKd. Lee Stokes Senior Stal0ry Auditor for and on behalf of Haysmac LLP Statutory Auditofs 2 December2025 10 Queen Stred Place LondoTh EC4R IAG 16
CHEAM SCHOOL EDUCATIONAL TRUST CONSOLIDATED STATEMENT OF FINANCIAL AcrivrTIES FOR THE YEAR ENDED311t AVGVST2025 General UAttsiricted Fund 2025 Other Funds ZO25 Totsl Funds 2025 Totsl Funds 2024 INCOME AND EXPENDITURE Not¢¥ INCOME FROM: lcome from ¢hriiab
etivitie5
Tuition fees Disbursements and extras Other ancillary income . Investrnents Inrerest receivablt 8341,456 286,160 46,758 8 J41.456 286.160 46.758 8.470.009 288.825 68.342 166.752 166.752 84.536 Donations and appe inc¢Jme Other Intome Other in¢ome 31.156 48209 79J65 14.110 39.203 39203 39,943 8.911.485 48.209 8.959.694 .965.765 EXPENDITURE ON: RglslMg funds Pr¢paid fee discount 15.013 15.013 4J82 Chgrltllyle ¢tivities Sthool optraiing coJIs TeachTng costs Welfare Premises Support costs of schoolhng Grants 4.724.087 916.183 1.599.034 1221.831 4,724.087 916.183 1,599,034 ,231,887 5.126.333 849.700 1.596.482 1,253239 400 10.056 8.476.148 10.056 8.486.204 8.830.536 Net ineom¢ b¢fott ir8nsfers 435.337 38,153 (38.15Jl 473.490 135,229 Transfers between fvnds {LossyProfft ort di$wl of fixed ets 38.153 18.507) Net incomt after tr4•5f¢r5 473.41x1 473.490 126.722 Balance br¢Jught forward 11.780.172 47.708 11.827.880 Balance Lwried forward 12.253,662 47.708 12.301,370 11.827,880 All activities are coniinuing. Ai the year end. all fvnd5 were unwcstriLd apjrt from thc Othu Fund5. which compri%d the L¢arnitLg Support FLthd. During the y¢ar £48209 Other Fund5 wcrc rcc¢iv&J which were to bc spcni on spe¢ifEC projectslassets. All of this was spcnt during th¢yrar. No summary illcome and ex1111re xwjnt hos prepa1 be¢*tse thi$ infornation is Clearly identtfied irt the above statemen(. The a¢¢ompanying Th)tes are an integral part of the accounts. Th¢ r¢suhs of the parent cornpany ar¢ not PTEs¢nt¢d in accoTd•Jce with ¢x¢n]ptions provided by Companie5 Act 12W). The resulr for the yur wa5 a £473,490 swplus12024.. £126.722 surplus).
CHEAM SCHOOL EDUCATIONAL TRUST Company Number: 01843219 cor4SOLIDATED AND CHARITY BALANCE SHEETS AS AT3I"AUGUST2025 Group Sehool 2025 2024 2025 2024 Not¢5 FIXED A&SETS Tangtble fixed assets Investments 10 10.644.114 11.023.077 10.644.I 14 11.023.077 CURRENT ASSETS Investments Debiois Fees and extr8s in arrears Fees and extsas per Autumn 2W25 bills Other debtors. stc<k5 and pryyrnents 2.500.1 2.500.oc 2.500,OLKI 2.500,otK) 1.399 1.487,905 304.914 4.471 1.399 1.487.905 304.914 4.471 250.586 250.586 CAsh and ¢ash equivalents 2.865.780 3.349.752 2.865.780 3.349.752 7.159.998 6,104.8(YJ 7.159.gW)8 6.104.809 CReDITORS- due thIn one year Fe¢$ and extr¥s for Autymrt 2025124 Prepaid fee5 Oihu Creditors 12 {2.1Th.630) 1898.021} 12,iX)6.6301 1819,600) 11.035.215} 1819.6001 {1.036.142) 1851.842} 11.036.143) 1898,021) 11.035.215) {851.843) l2 (3.862J72) 12.785.078} 13.862.373) 12.785.079} Tr4 CURRENT ASSETSILIAOILITIES 3,297.626 3319,731 3.297.625 3,319.730 CREDITORS- Due after one year 13 (1.640.370) 12.514.928) (1.640.370) 12,514,¥28) TOTAL ASSeTS LESS LIABILITIES 12.301.370 11,827.880 12,301.370 11.827,880 UNRESTRICTED FUNDS Desi8llOtedfiiml Gethe Fund Learning Support Fund 14 15 12253,662 47.708 11,780.172 47.708 11253.662 47.708 11,780,172 47,708 12 JOI J?0 11.827.880 12JOI J70 11.827,880 The finafici 5tatemenis were approvd and for i55ue by the Bogrd of Govemors on 28th November 2025 and were $ied below on its b¢half by: Sir Matk Harfor4 Chaimjart MT P¢tu AIIv4 Gov¢rnor The accompanying notes are an inte1 part of the xo)Lmts. 18
CHEAM SCHOOL EDUCATtONAL TRUST CONSOLIDATED STATEMEf4T OF CASH FLOWS FOR THE YEAR END£D3I° AUGUST2025 2025 2024 C#$h IIOTH from oyeratlng CCivtsles N¢t incorn¢ hr Ibe yer Depreciation lincluditt8 imw of VAT adjusthieht) Inrest receivabl¢ {Inctea5eydecrease in debt Increwl{decTe8se) in Creditors LossllProfitl ort disp)sal of fixed assets 473,490 454.809 (166,7521 1512561 1249.9541 126.722 477,214 (84.536} {104,380} 71.586 .507 Net c&sh senerated from operating xtivities 460.337 495.113 Cash llow Irom iTrvesting aetivi¢iEs Interest rcccivcd Purchase of current 355et invutmcnts Purthase of fixed assets Prixeeds from dispDsal of fixed a5setsifLxed asset adjustnjents 166.752 84,536 {2.500.0001 1310,9771 149 (254.8241 178.978 et cash used l Investing a¢tivitit5 12.726,2921 C•sh llows from financing ¢tivities InCreIlde¢reSe) in prepaid fees 11.0352151 2.945,604 Net tg$h rys¢d IR rrtnelng Attlwitit5 I l.OJ5.2151 2.945.604 l&cre•s¢lldttre2se) c*sh and cash equfv#ltAts 1483.9721 714.425 Cash and c45tL equivalenls 45 at IW S¢wembcT 2024r2023 3J49.752 2.635.327 Cash and cash ¢4uivaknts a5 at 31" 2025Q024 2.865.780 3.349.752 Reeoncili#iioo of n¢t debt Balance I" Stptemb 2024 BaIante 3151 August 2025 C¥h at bank and in hand 3,349.752 (483.17121 2.865.780 Total 3,349.752 1483.9721 2.865.780 19
CH£AM SCHOOL EDUCATIONAL TRUST YEAR ENDED31Y AUCUST2025 ACCOUNTINC POLICIES ACCOUiYTINC POLICIES Ch¢am Schr>ol Educational TTU5t 15 a charitsble CoMpY incwated in England and W8l¢s. Further wrnpany information cart b¢ found on page 2. The financial siatemtnts have beert prepared under the historical cost convention and in accoTdance with applicable accounting sthndards and the Statrmeni of R¢thrnTnended Pr1¢ Ac£ounting and Rew)rtiftg by CharitiES (SORP 20191. the Companie5 A¢¢ 2006 and FRS 102 thc financial Tcponing standard appli¢able the UK ar the Republic of Ircland. Th¢ counts preseni th¢ ¢onsolidated $tst¢Jnent of fJn8n¢ial a£tiviti¢5 ISOFAI. the eons01idated siatemcnt of ¢a8h flow5 and the tottyolidated and Schwl balance $heei$ tomprising the ¢tsnsolidation of the School and with its wholty owned subsidiary Cheam Trading Lirniied. No sepante SOFA has bee# esentcd for the School alone. as permitted by Settion 408 of the Companscs Act 21M)6. The School reviews Ind monitor5 its fiTTrth¢i position c105ety ¢)n o It10t basis athd also mrAle15 firturt s¢enarios to ¢n5ure proactive steps are rakcn to piotett both the fir¢1 resilience of its current operations and its lon8er- tern financial stability based on a iathge of other faaors. These forecasts. in dItiOn to normal processes. eontrols and govrrn8nEt in thi5 are4 enable a timely rewnse to emuging issues and contingency plannin8 for urt¢ertainii¢s presented by ihe wider environmeni. The School retsins 5tTong links with its bank¢r5 coniinue io moke available appropriate fxilities to sUprt on8oinE activities. Having reviewed ir5 Current financial resources. th¢ funding facilities available io the School. and its fi[¢ projected cash flows. Ihe GOV0 have a reL%onable expectation rha( rhe Sch¢y)I will have adequa rtsourees ro ccnl¢nue its &tivit¢es for the foresecable future. The Govemors believe theT¢ no material vnr¢rt4inties relating to going ¢oth¢crn as 5ch continue to adopt the going concern basis ID pr¢patithg th¢5¢ finon¢ial ststemcnts. The follovling a¢tounting poliri¢s have been appli¢d 1$t¢tlY in dealing with items whith 8Te Considered MtrIal in TclJti¢n to the Schth)I'$ fin&fteial statemertt> b) Fets rtttivablt and similar income Tuition f¢¢s are stated aftu deducting allowances for awards and other Temissions. Oth¢T educational incorne comprise5 income from school outings. activities and other Telated incomc. These sourcc5 of income are included in the accourtts when bccome receivable and thu"r ¥alue can be mwured with reasonablt probability. Expenditure aritable acrivity cost5 tomprise5 all cxpeTrditure diTectty Tel3ted tr> the objects of the School includin8 dir¢rt staff costs auribuiable ro uch ¥etivity. Supw)rt W51s )luded within the thatitsble Ktivity tornpris¢ the $ts of all resourccs utilised dirtlY to 5UPPOrt ik Sthwl'5 priThwy activitie5. Gov¢rnance w5ts are those costs inourred in twneetiOD with the Eovemart¢¢ of the charity and its assets and are prim#rily a550¢iat¢d with con#itytional and statutory r¢quir¢rn¢thts. d) Pewsion tosts All staff {t¢aching and non-hing) are membets of defi[ coniribuknon schemes. where required by pursu1 legislation. which ¢ompty with the r¢quirements for a stakeholder pension scheme. The School withdr¢w from the T¢achers' PetLSiOth Scheme on 31$1 December 2019. See Note 8 on pag¢ 24. Flxed gsseL All itern5 of a capital natur¢ with a combined value of OVerM ar¢ ¢apitsli5ed. Dwr¢¢iation s ¢alculaied so a5 to wri off the coll of rangibk fixed assets on a straighi-line ba515 ovw the expecie(l useful ewnomlc lives of the &ssets concerned. Thc principal ra5 Used for this purfAise a.. Freehold land Freehold buildings & improvemenLS FUrnIre. fixtures and equipmettt Motor vehieles Computers FTeehold land is t[ depreciated 10%-20% 25% 20
CHEAM SCHOOL EDUCATIONAL TRUST YEAR£NDED 310 AUGUST21ll5 ACCOUKTING POLICIES Icontiftued) ACCOUNTING POLICIES IcoDtinyed) Finanei#l Instrnm¢Dts The Trust only firwicial assets and finartiai liabilities of a kind that qualify &$ basic fitlancial instrurnents. Basic firtancial instruments are in11rlY r¢o)gnis¢d * wanlI value and yJbsequent]y measured ar th¢iT settlement ¥Ut. Operating Rental char8es are char8ed on a 51rnighl-lint basis over the ttrnj of the lease. h) Debtors Trade and other debr$ are Tecognised at the 5elllement amount dur aft¢r any discounts offtr¢d. Pwpaymcnts are valued at the amouTht prepaid net of any di%ounts due. sh at bnk fyd In hattd Cash is represented by cash in hand and dep05i15 with finarteial institLrtions repayable witknut penalty Dn notice of not more than 24 hows_ Cash equivalents are highly liquid invulrncnts that mature in no more than thrcc montks frorn the date of acquisitioth and are Teadily convertible to kDown ¥mwE)ts of Cash with insignifL¢aii¢ risk of change in value. i) Creditors d PYovisi•tts Crtditors and provisions are ttcogftised whewe the Sthool has a pr¢%nt obligation resulting from o past ¢v¢nt th will probably resul¢ in the transfer of fid5 to a third party and the amount due to %ttle the obli8ation G4n be ffleasured or estimated Teliabty. Creditors and provisions aTe norrnolty rec¢ignised * their s¢ttlement arnounl after allowin8 for any discourtts due. Furtd teounting The funds of the Sch(1 are accounted for Is urErestriaa ¢y restri¢ in¢ott)4 in ac£ordc¢ with the LeTms of iNst imposed by the donors or any appea] to which they may have re5pDJJded. Unrestritled income belon8S to the Schwl's corp)rate reservty spendable at th¢ disctetiort of the Governors either to further the School's Objects or lo benefit the S¢h(KJl itself. Whert the G()vernors decide to se¢ oside any part of thes¢ fvrtds 10 be ¥sed rn future for some 5FecifJc pyryose. this Trs for by transfer to the apprOpTit desighated fund. D¢sig4at¢d are a parti¢ular forni of unrestricted funds ¢on5iSting of afflOUn which have b¢en a]h)cated or designated for specifi¢ PLLrp)ses by the Govemors. Th¢ use of 41¢5ignated funds rMJain5 at the dIretIon of Gov¢rnors. Criti¢¥J 50urrts of ¢Mimation uictrtainty #nd judgeme*ts The governots Consider the to be the follortg key source5 of e5tirnarioTr uncertrtty and have rheTefoR applied jyd8ement. Ugeful lives of fixed assets The useful live5 over which fixed as%ts gre depr¢¢iat¢d are estimakd by refemce historical experi¢rt¢¢ of the tim¢ wets are retsined utilised by th¢ Schc4)1. Employee benefits Employee benefits are xcounted for in the period in which the employee's servitts were pft>vided. Employee terninaiioo payments Emp5oyee leinatIOn paymenrs 4rE a¢¢ount¢d for io the perifyl in which the employee ceased employment ¥wth the School. 21
CHEAM SCHOOL EDiJCATIONAL TRUST NOTES TO ACCOUNTS YEAR ENDED3111 AUGusf2024 CHARITABLE ACTIVITILS 2025 21724 Fee5 e1¥ble c0Th5iSt of.. Boardial8 Jnd tyjirion fees Less Scholarships, bursaries athl rtmissiorts 8ivert .928.896 1587.4401 8,983.379 1513.3701 8J41.456 8.470.¢X19 OTHERANCILLARY INCOME 2025 1024 eg15r100 ftts Other 8.262 38,496 16.293 52,049 46.7)8 68.342 SUBSIDIARY 2025 2024 Tumov¢r and o¢her incorne Administrnlivc Cxp¢ndirt Ner(10ssyprofii Bank lThtere# R¢1V<1 Ta¥ on profil IL055yprofit for the financial ptri DoutiOTh ro par¢ni undertaking Rtwnul in subsidiary assets The Charitable Company has an iDvesbneThi in a subsidiary undert*ing which comprises a holding of I oidinary share of £1. beiTh8 the whole of the issued Share capitsl of Cheam Trading LiMid IformeTIy Cheam Asia Limitedl a ¢(Knpany r¢gisLered ITh England. Cheam Trading Luniied was dormant during the year ended 31Y August 2025. As Of 31° August 2025, the company bad net wets of £1 12024.. net assets of INTEREST RECEIVABLÉ 2025 2024 Bartk inter¢51 166.752 84,536 DONATior4s 202S 2024 Donattorts rt¢ei¥ed 79.365
CHEAM SCH EDUCATIONAL TRUSf NOTES TO ACCOUNTS (tontiDu¢d) YEAR ENDED 311t AUGUST 2025 OTHER INCOME 201S 2024 R¢Trt and lettings 39.203 39,943 ANALYSIS OF EXPENDITURE StAff Costs Other ikpretiatio 202S Totsi C05t of gtntratlDg fllnds Prepaid fee dis¢ount School operAtittg tosts Teaching Welfare PTernises Support Bad and doubtfiLI debts Grants 15.013 15.013 3.941059 583.800 60U25 r25 J28 677.981 299.686 725.626 447.928 11.449 104.(M7 52.697 270.883 47.182 4.724.087 916.183 ,599,034 1,220.438 11,449 Total expenditwe 5.853.712 2.177.683 454.809 8.486,204 Depreciaiiott expenditure th¢ tsble above in¢ludes a crEdii adjustmeni of £28.8W arising frDm the recovery of pre-registration inpui VAT on fixed assets p¥h¥St in thc 4 y¢ar5 prior to VAT regtstration the &$sll2d odjustment to accumulated dEpr¢cl0 (for fvrthcr detri pl¢as¢ t nore 10. pagc 251. COMPARATIVE ANALYSIS OF EXPENDITURE Stsirc05t5 Other Dtpreci¥tiOO 21124 Total Cost of g¢Aeratlng fwthds Prepaid fee discount School oper4tig cosls Teaching Welfare Premi5¢S Support Bad and d¢Juf1 debt5 GrJts 4.382 4,382 4,346,246 533.179 569.769 648.762 667.483 284.393 749.809 528,351 20.548 112,604 32.128 276.9)4 55.578 5.126,333 849,700 1.596,482 1232.691 20.548 40D Total exr*ndityre 6.097.956 2255.366 477214 ,830.536 23
CHEAM SCHOOL EDUCATIONAL TRUST NOTES TO ACCOUNTS (tonistttstdl YEAR ENDED Jlgt AUGVST 2025 STAFF COSTS 2•25 2024 we$ and salarie5 Social security costs Pension Contributions Other Staff relatd Costs 4.695,649 458.949 475.199 223.915 5,031,908. 438.514 504.479 123.055 5.853.712 6.097.956 Tenninati¢>n yrnets of £26.916 were incur1 duting the year12024.. £317.6891. The aver•ge number of employee5 in the year wa5.. T¢a¢hing Others 87 77 96 69 164 165 The nymb¢rof employees whose emoluments exceeded £60.IiKI £60.000- £70.tM]o £70.000- £80.tM]o £80.000- £90.WO £90.000- £100.000 £ioo.000- £1 10,000 £1 10.(KIO- £120.000 £120.(K)0- £130.000 £130.(K)0- £140.000 £140.(KpO- £150,000 K¢y tnana8ernent F¢Tsonnel Temuneratioh in the year £263236 (2024: £303.1581. Teachers. ertston The School uscd to participate in tht Tcachets. Pension Scheme ( TPS-I for its teaching staff. but wiihdrew on 31. Dccember 2019 and an alitrnative dtfioa contrtbution pensioh scheme put in place for the nefIt of icaching S. Aviva P ion Trust for Inde ndent Sch I As the r¢plac¢rn¢nt for th¢ TPS for teathing Staff. the kho¢l participates in a defifted con1nl¢ion scheme with the Aviva Pension for Independent Schools. Duiing the year E599.988 (2024- £646.8791 w&% recognised as an ¢xpen5e in the Consolidated Staiemerti of Financial AcrivitK5. Inc rated Association 10 Sch 15 Retirement The School 2150 l¢1Pare$ in a defIn coniribuiion scheme with the Inr[rI¢d As50Ci3tion of Preparatory S¢hools Retsrement Plan for n-a¢hing Suff. During the y¢ar £136.177 (2024.. £134.4531 wa5 recognised 85 an expense in th¢ Censolidare¢J Slatem¢nt of Fitwi¢ial Aciiviii¢s. tPen The School a150 partitipates itj the Nest Pension S¢hern¢. & 80vernml backed defined contribution schem¢. for the benefit of certatn non-ieaching"staff. Durin8 the year £32.297 (2024.. £30.960) wa5 reco8rtised &$ an exp¢nse in the Consolidaod Sratemettt of Financial Activities. At the ye4r4nd £61.201 12024: £7I.9591 wa5 payable in res¢ of contrityjuons to th¢ defined contribution pension scheme5 that the School partiripaie5 in for the Trrtnefit of its sraff. 24
CHEAM SCHOOL EDUCATIof4AL TRUST NOTES TO ACCOUIYTS Ico•tiD•ed) YEAR ENDED JI. AUGUST 2025 None of the Gov¢rnots r¢ttived any T¢muJ)¢Ta1io of pocket expenses paid to Govunors during the year w¢re £4212024.. £2561. The School has purchased GovernDT'$ liability ¢nsuTaThce. As the prtrnium is included with other insurance costs. it is not sepatly jdeE)ufble. EXPENDITURE 2025 2024 ExndIre includes: Op¢ratiThg Iwe paytn¢Ttts Auditor's remuneration 88.638 21.000 325 454.809 100.048 23.670 4,720 477.214 Audit - Other seTVi DeprlIti0rt LkPr1tl0n expcndilurc aK¥e includ¢s the t111 adjLtstmeni of £28.890 arisin8 from the recovery of pre- registration input VAT on fix¢d 355et5 purch&sed in the 4 years prior lo VAT re8istration and the associated adjImenT to accumulated depre¢iaiion (pleas¢ stt note 10. klow). 10. TANGIBLE FIXED ASSETS The m¢)Yem¢rtts of tsngibte fix¢d assets are 8s follows: Group and School Freehold land and frtehold buildirt$8 Fllrnitllr FrttinES equipmeht
nd motor vehitles
Computer5 Totsl COST OR VALUATION At 111 September 2024 Addition$ Adjustment 13.760.369 4.216 (21.117) 1.850.177 148.044 1119,493) 485.586 102,564 {38,3681 I6,0.]32 254.824 (178.9781 At 31" August 2025 13.743.468 1.878.728 549.782 16.171.978 DEPRECIATION At l Septernber 2024 ChaT8e for the year Adjustment 4.168.914 201.866 (848) 663224 177.950 {16.rx)31 240.917 103.883 (12.0391 5.073.055 483,699 128.8901 At 31 August 2025 4.369.932 825.171 332,761 5J27.864 NET BOOK VALVE At 3l# Au8USt 2025 9J73 J36 1.053.557. 217.021 10.644.114 Al 31 August 2024 9.591.455 1.186.953 244.669 1.023.077 Following VAT re8istraiion on Ilt January 20?J. po-regiwatiott input VAT was Te¢ov¢r¢d on ¢enwn fJx¢d assds purchased irt the 4 year5 prior to regi5tratiOD. This resulted irt adjusiTncnts to th¢ Cost and x¢umylated depreciati(pn of these fixed a55eis Set out in the tsbl¢ alN)v¢. 25
CHEAM SCHOOL EDUCATIONAL TRUST NOTES TO ACCOUNTS {eontinued) YEAR ENDED 31X AUGUST 2025 PREPAID FEES Th¢ mov¢mErt¢s on the School's prepaid ftt5 scheme during the year wcre as follo5." Group 4Dd S£hool 2025 2024 Balantt at lit September 2024 New conrracts Amouni accFued ts) coniracts Refvnded io parents 3.09).067 144.463 3,106.256 4.382 15.013 3.105.080 3.255.101 Amounls Utilised in paymeni of fee5 11.050.228) 1165.0341 B4lan¢È At 31° 2025 2.054.852 3,090,067 Assuming pupils remain with thc Sthool. prepaid ftes will be applied &s follows.. 2025 2024 Witlbiw one yur Between two and five years AfteT five yeats 819.600 1.053.815 151,437 1,035.215 l.873,415 181.437 2.054,852 3.090.067 12. CREDITORS:_ Due witbits otte year Group School 2025 2024 2025 1024 Fees and extras for Aurnmn 2025r24 2.(X)6.630 898.021 2.¢)06,630 898.021 Trade crediTors Other and social security Other creditor5 Accrva15 Amovnts owed to group und¢rtrkin8s 228.389 107,366 549,729 150.658 I64.3 118.340 209.862 358.647 228.389 107 J66 549.729 150.658 164.993 118.340 209.862 358.647 1.036.142 851.142 I.03A143 851.843 'Fees artd exirt% for AtsDJmD 2025124. r¢la1¢5 to and extra5 for the next 5chwl year which wer¢ invoiced in August. In prior years. Autumn i¢m f¢¢ debknr5 have netttsl against 'fte5 and ¢xtra5 for th¢ Autumn (emi.. However following VA T iegistration otL ltt January 2025. VAT invoices for the Autumn temi are thow issued in August crIng a fee debtor. and therefore f¢¢ deOr$ and the associed deferred irttome relating to Autumo 2025 are shown gr05S lrt the financlal starements. The r¢sutEing iDcrcas¢ in these ba18nces compared to the prior y¢8r. can be in the Tho above and the bajance sheets on page 18. 26
CHEAM SCHOOL KDUCATIONAL TRUST NOTES TO ACCOUNTS (continwed) YEAR ENDED 3111 AUGUST 2025 13. CREDITORS=_ Dut after ont year Gro#p S¢hool 2025 2024 202$ 2024 Prepaid f¢es Fee d¢FK>sits 1235,252 405.118 2,054,852 4&J.076 1235,252 405,118 2.054.852 46g.076 IW.370 2.514.928 1.640.370 2.514.928 14. GENERAL FUNDS General fvnds tan be applied to the School's opernion$ at the dwdion ofthe governors. OTHER FUND IS LEARf4iNC SUPPORT FUND The fund ¢onsists of dwations originalty of £fAI.01)J that are now reduc¢d to £47.708 vihich aT¢ being ijsed for learning 5uppofL £0 5peni durin8 the year. 16#. ALLOCATION OF CONSOLIDATED NET ASSETS BV FUND Net turrefjt Creditors: dut after ont year Fixed 4$5¢ts Oi•lJilities) 21ns Total General Fund Learning Support Fund 3249.918 47.708 {1.640.370) 12,253.662 47.708 10,644.114 3,297.626 {1.640.370) 12,301.370 16b. COMPARATIVE ALLOCATION OF CONSOLIDATED NET A&SETS B Y Fuf4D Ntt ¢yrrent •ssetsl Oi*bilitie51 Crtdifors: due after one year Fixed assets 2024 Totsl Genera] Fund Leamirtg Suppm FLtt)d 11.023.077 3272.023 47.708 12.514.928) 1.780.172 47.706 I 1.023.077 3.319.731 12.514,9281 1.827,880 27
CHEAM SCHOOL EDIJCATIONAL TRUST NOTES TO ACCOUNTS Iconti•ued) YEAR ENDEDJI. AUCUST2025 17. OPERATING LEASE COP1MITMENTS The School has the following total opuating l¢•se ttfflmilments duc as follows: GTOMP hd Sthool 2•25 2024 Less than onc year Two to five years Over rc years 83.511 I 19.209 98.827 70.151 202.720 168,978 RELATED PARTY DISCiKISURFS One of the Governors has a thild at School and pays fees in line other porents (2024.. Thwee). The Dir¢ctor of Finanre & Operntions Ims two thildrtrt at the School 12024.. two) aod a5 of his contract of ¢rnployrnenr receives staff fee rernissioo in line with the khool'5 FK5 Remission Poli¢y. TheTe were no other tel•tgJ p*ty trnhsattiOAS io the y¢aT ended 31° August 2025 or the precedingy¢ar. 19. POST BALANCE SHEET EVENTS Thert have bttn DO signifitant w bJl•rte shect cvents. 28