•• Chipping Campden COMMUNITY TRUST Report & Accounts For the Twelve Months Ended 31 St December 2024 ST C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) CONTENTS Pages 3-7 Trustees Report Page 8 Independent Examiners Report Page 9 Statement of Financial Activities Income and Expenditure Report for year to 31 December 2024 Page 10 Statement of Financial Activities Statement of Affairs as at 31 December 2024 Pages 11-14 Notes to accounts ST C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) TRUSTEES, REPORT Legal and Administrative Infomiation Name: The Chipping Campden Community Trust (the"Charity") Address: clo Hon. Secretary, Mrs Susan Stainer, clo Old Police Station, High Street, Chipping Campden GL55 6HD. Status: The Charity is an unincorporated association which is registered as a charity with the Charity Commission under No. 1058187 Trustees: The following members of the Executive Committee (Trustees) served during 2024 and, except as noted, remained as members of the Executive Committee as of the date of this report: Michael Allchin Anita Dee Stephen Holder Sally Lindner Norman Reid Susan Stainer Fiona Tierney Paul Wyatt Mark Kirkbride Hon. Chairman Hon. Treasurer (retired 8th October 2024) Hon. Secretary Hon. Treasurer (appointed 8th October 2024) Independent Examiner: Daniel Colwell & Co Chartered Certified Accountants, The Old Bull Pens, Sezincote, Moreton-in-marsh, GL56 9AW Bankers: Lloyds Bank plc. C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) structure and Governance Constitution The Charity was constituted pursuant to, and is governed by, a constitution dated 10 September 1996 (as amended). Members of the Charity may obtain a copy of the constitution, as amended from time to time. from the Hon. Secretary. Members Individuals over the age of 18 years and businesses and organisations interested in furthering the work of the Charity may become members of the Charity upon payment of an annual donation in a minimum amount determined from time to time by the Executive Committee. Individuals may also become members for life by payment of a donation in a minimum amount determined from time to time by the Executive Committee. Members have the rights prescribed in the constitution, including the right to attend and vote at the annual general meeting and extraordinary general meetings of the Charity. Executive Committee The Charity is administered and managed in accordance with the constitution by the members of the Executive Committee. The Trustees from time to time constitute the Executive Committee. The constitution specifies that there shall be between 5 and 9 trustees at any time including 3 honorary officers, being that of the Chairman, the Secretary and the Treasurer. There were 8 Trustees at the 31st December 2024. No member of the Executive Committee is remunerated by the Charity for any time spent by such member in connection with the affairs of the Charity. However relevant expenses are reimbursed where appropriate. The honorary officers and the Trustees are appointed by the members voting at an annual general meeting of the members. Honorary officers and other Trustees are appointed for initial terms of 3 years and are able to be re-elected, provided that no honorary officer may serve more than 3 consecutive terms, and no other Trustee may serve more than 2 consecutive terms. The Executive Committee may, subject to certain restrictions set out in the Constitution, appoint co-opted members of the Executive Committee with any such co-opted member to hold office until the next succeeding annual general meeting at which time such person is eligible for re-election. New members of the Executive Committee are recruited with regard to the balance on the Executive Committee from time to time of persons with relevant skills, experience, knowledge and qualifications. C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) Objectives and Aims The objects of the Charity are to promote, through the provision of financial assistance, any charitable purpose for improving the educational, leisure, recreational and supportive facilities for the public benefit of the inhabitants of Chipping Campden and the surrounding Campden Vale area, with special regard to the needs of the young, the elderly, the disadvantaged and the disabled. Activities The Charity provides financial assistance principally by way of awarding grants by decision of the Executive Committee. The Executive Committee actively seeks and considers grant applications made to the Charity. Honorary Chairman's Report The Trust has had another productive year and the Trustees continue to meet regularly to discuss the Trust business and consider grant applications. The Trust continues to grant aid Campden and Cotswold Edge Advisory Service, operated by Louise Kington, which is a free confidential service for older people living within the area. Louise submits regular analysis of her work within the community to our Trust meetings. We have continued to support Cotswold Friends primarily for the vital transport service, which enables clients to attend hospital appointments and other important engagements. We are also giving a regular grant to Cotswold Edge, a youth charity providing financial support to enable students to have the opportunity to play a musical instrument and take part in other musical activities. We gave another grant to the local First Responders towards a second fully equipped car to operate locally, this should be in operation shortly. We were also delighted to support a theatre group for teenagers which took place at the Cider Mill Theatre during the summer break. We have also committed to funding a Pass Plus Course for students who have recently passed their driving test, to help improve their driving skills. We have awarded smaller individual grants, which have helped improve the quality of life of the applicants. The Trustees are mindful of meeting the main objects of the Charity, to help the disadvantaged, the disabled, the elderly and the young. The Trust is very grateful for the many legacies and donations that we have received which has enabled the Trust to be in a financially secure position, but we are always looking to the future and welcome the planning of future legacies and donations. C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31- DECEMBER 2024 (Registered Charity No. 1058187) Financial Review The Charity maintains two different types of fund, being an unrestricted fund and 2 restricted funds, details of which are contained in note 2 to the financial statements. A list of all the grants made by the Charity during the financial year is set out in note 3 to the financial statements. Monies in the restricted funds may be applied only in accordance with the restrictions set out in note 2 to the financial statements whereas monies in the unrestricted fund may be applied to any cause satisfying the Charity's objects. All monies received by the Charity, including the membership donations, which are not subject to any restrictions on their application are credited to the unrestricted fund. The Charity actively seeks donations, grants and other means of funding its activities. Prior to funding any grants, monies received by the Charity are either held as cash at bank or invested in various investment funds (the COIF Charities Investment Fund, the COIF Charities Property Fund and the COIF Global Equity Income Fund) managed by CCLA Fund Managers Limited. It is the policy of the Executive Committee that, other than in exceptional circumstances, the capital portion of the restricted funds shall not be applied in funding any grants and that rather such grants shall be funded entirely from the income generated by such funds. Non- restricted grants may be funded by either or both the capital portion of the unrestricted funds or any income generated by such funds. The members of the Executive Committee have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Treasurer's Report This year has again seen a strong financial performance from the Trust, with fund balances at the end of the year of £2,246,497 (against the figure at the end of 2023 of £2,157,446). This is partly due to excellent investment performance giving unrealised profits in the year of£55,166. Income It came to our attention in 2023 that the investment income received in February each year relates, in fact, to the final quarter of the previous year (October to December). In previous years we accounted for investment income when received. To comply with our stated accounting policy, we started accruing this income in the year to which it relates. The effect of this is that for 2023 only, there were five quarters of investment income included in the accounts. Investment Income was £64,915 for 2024 compared to £75,716 for the five quarters in 2023. ST C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) Expenditure The decrease in the total expenditure in the year, excluding that of grant payments, from £6,393 in 2023 to £3,735 in 2024 reflects an decrease in advertising and marketing costs having set up our website in 2023. Grants During the year, the Charity made grants totaling £29,128 (2023 £19,861) of which £18,978 were made from restricted funds to aid the elderly in our community, and a total of £10,150 was made from unrestricted funds to aid the community more widely. General The Charity continues to look to the future with confidence. Its asset base remains strong and it is still positioned to continue the work envisaged by those who originally provided the bequests leading to the creation of the Charity. Risk Management The Executive Committee's policy is to limit the sum the Charity has on deposit with its bankers to the maximum sum protected under the UK Government's Financial Services Compensation Scheme. The three COIF investment funds in which the Charity is invested are specifically designed to suit charities and are only open for investment by charities. CCLA Fund Managers Limited is a wholly owned subsidiary of CCLA Investment Management Limited which is the third largest charity fund manager in the UK and has been in business for more than 60 years. Our Treasurer regularly monitors the results of the Charity's investments in the COIF investment funds. Reserves Policy The Trustees, aim is to maintain free readily accessible cash reserves in the sum of not less than £25,000 in each of the restricted and unrestricted funds as it is considered that this will enable the Charity to respond expeditiously to grant applications as they are made from time to time On behalf of the Trustees: Sally Lindner Hon. Chairman 2025 ST C.C.C.T. REPORT AIND ACCOUNTS FOR Th'E YEAR EWDCD 31 DEC£￿iMBEp 2024 (Regi3rriner's fee (1,200) Other Creditors 108,412 Net Current Assets 142,296 2, 157, 446 NET ASSETS 10 C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF AFFAIRS AS AT 31" DECEMBER 2024 (continued) Represented by . 2023 2024 371,312 671, 030 206, 800 Tryphena Wood Bequest Capital Fred Badger Fund Capital Restricted Fund Re￿nue 380,228 684,946 1, 249, 142 Total Restricted Funds 1,293,720 168,547 739, 757 Lhrestricted Fund Braith)Kdite Fund 186,553 952,777 2, 157 446 Total Funds 2 246 497 The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The Report and Accounts on pages 3 - 14 were approved by the Trustees on 2025 r behalf by: and were signed on th Sally Lindner (Hon. Chairman) ark Kirkbride (Hon. Treasurer) C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31" DECEMBER 2024 (Registered Charity No. 1058187) Notes forming part of the financial statements for the year ended 31st December 2024 1. Accounting policies (a) Accounting Convention 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 (FRS 102) Charities SORP (FRS 102) (effective 1 January 2015) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 (b) Incoming resources All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Analysis of Investment Income 2024 2023 COIF Investment Fund COIF Property Fund COIF Global Equity Fund Deposit Interest 44,556 6,924 8,251 5,184 54,691 8,452 9,865 2,708 Total 64,915 75,716 In 2023 the accounting treatment of investment income was changed to reflect a full accruals basis. The effect of this is that, for one year only in 2023, there are five quarters of investment income accounted for rather than the usual four quarters. (c) 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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. The Trustees received no remuneration in the year. 12 C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31- DECEMBER 2024 (Registered Charity No. 1058187) (d) Grants Grants made in the year from both the Restricted Fund and the Unrestricted Fund were made in accordance with the terms of reference for these funds as outlined in Note 2 below. (e) Investments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations. 2. Description of the various Trust Funds (a) Unrestricted Funds The general funds are used to hold all receipts, the use of which is not restricted, as well as all donations of unrestricted monies. The general funds include the Braithwaite Fund which the Trust agreed to administer upon the winding up of the Braithwaite Trust. (b) Restricted Funds The Tryphena Wood Bequest and the Fred Badger Fund were set up for the benefit of the elderly in the area, an area now defined as the Campden Vale, including the village of Ebrington. Specifically, the income from these funds is used to improve the quality of life of those in the area, and to provide support to them in their homes and in the community. While the two capital restricted funds are being kept separate, the income from those funds has been merged into one fund known as the Wood Badger Income Fund, which will continue to provide grants for the elderly within the defined area. 3. Grants Made Restricted Unrestricted Vision Counselling Wheelchair Campden Edge - music provision South West Ambulan￿ First Responders Scuttlebrook Wake Khebra Productions (Youth Academy) Guild of Handicraft Trust Cotswold Friends Cotswold EdgelLouise Kington Almshouses heating system 400 550 5,000 1,800 500 1,500 400 1,800 497 400 3,000 10,000 3,281 18,978 10,150 13 C.C.C.T. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (Registered Charity No. 1058187) 4. Analysis of Invested Funds Units Value 2024 Restricted Unrestricted 2024 2024 Total 2024 COIF Investment Fund Tryphena Wood Capital General Capital Fred Badger Capital Fred Badger Revenue Unrestricted Revenue Wood Badger Revenue Braithwaite Fund Revenue 15,990. 02 4,659.09 30,295.09 1,420.80 864.27 4.303.31 22.646.98 324.490 94.548 614.787 28.833 17.539 87.328 459.583 324.490 94.548 614.787 28,833 17,539 87.328 459,583 80, 179. 56 1,627,108 1,055,438 571.670 1,627,108 COIF Propety Fund Tryphena Wood Revenue Tryphena Wood Bequest Fred Badger Capital Fred Badger Revenue 25. 725. 15 23,965.83 66.881.61 4.695. 72 26,986 25.140 70,159 4.926 26,986 25,140 70.159 4.926 121,268.31 127.211 127.211 127.211 COIF Global Equity Fund Braithwaite Fund Revenue Tryphena Wood Bequest General Capital Fred Badger Revenue 104,045.28 10,382.04 705. 59 3,583.94 306,641 30,598 2,080 10.563 306.641 30.598 2.080 10.563 118,716.85 349.882 41.161 308,721 349,882 Total CCLA Investments 2,104.201 1.223.810 880,391 2.104,201 CCLA deposit account Lloyds Bank account 108.034 15.052 50.781 5.355 57.253 9,697 108,034 15,052 Total cash 123,086 56,136 66,950 123,086 Creditors and accruals Debtors and prepayments Net other assets (1.200) 20.410 19,210 (600) 14.374 13.774 (600) 6,036 5,436 (1,200) 20,410 19,210 Total per Balan￿ Sheet 2,246,497 1,293,720 952,777 2,246,497 14