2021-03-31-accounts

OLD ROYAL NAVAL COLLEGE CHAPEL FUND

TRUSTEES’ ANNUAL REPORT 2020/2021

This is the Annual Report of the Trustees of the Old Royal Naval College Chapel Fund (“the Chapel Fund”) for the year ending 31 March 2021.

The Chapel Fund’s registered charity number is 1073436 and its address is The Old Royal Naval College Chapel, Greenwich, London SE10 9LW.

The current Trustees are as follows:

Sir Nicolas Bevan CB Chairman Mr Roger Falconer Rev. Patricia Mann Mr Omar Al-Hajali Treasurer Mr Robert Henderson Mrs Marjorie Ouvry

The Chapel Fund is a charitable trust established by a Trust Deed dated 22 November 1998. Five of the Trustees are appointed by the Chaplaincy Council of the Old Royal Naval College Chapel for a renewable term of 4 years; the sixth Trustee is the Chaplain of the Old Royal Naval College Chapel ex officio .

The objects of the Chapel Fund are

1. To contribute towards the costs of maintaining religious services and music in the Chapel in accordance with the policy and established procedures of the Chaplaincy Council;

2. To make donations for charitable purposes in accordance with the policy and established procedures of the Chaplaincy Council.

During the period covered by the Annual Report the Chapel Fund contributed £23,531 towards the costs of maintaining religious services and £11,918 towards the costs of maintaining music in the Chapel. A generous legacy of £130,000 was received on condition that it was put towards the cost of installing a lift to improve access to the Chapel for the less able; the Trustees added £40,000 from the existing resources of the Chapel Fund for this purpose and expect to make a further modest contribution to the final cost. The project, which is the responsibility of the Greenwich Foundation for the Old Royal Naval College, has been completed and the lift is now in operation. The Fund also donated £10,050 to the Diocese of Southwark to help meet Church overheads and made donations totalling £7,730 for other charitable purposes. In exercising their duties the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

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The principal source of the Chapel Fund’s regular income derives from donations made by members of the congregation. The restrictions put in place to mitigate the effects of coronavirus, including the closure of the Chapel for large parts of the year, had an adverse impact on the Fund’s income; at the same time, however, expenditure from the Fund fell significantly compared with the previous year. The net effect has been a modest increase in the balance at the end of the year. The Trustees are, however, conscious that the Fund’s regular income is likely to remain at a reduced level for some time to come and they will keep a close eye on the impact of this on the financial health of the Fund.

In the course of the year the Trustees have reviewed and, with amendments where appropriate, confirmed the validity of their written policies on complaints, conflict of interest, health and safety, management of volunteers, reserves and investments, risk management and data protection; and have satisfied themselves that their internal financial control procedures remain appropriate. Risk management is of particular importance and the Trustees are satisfied that the risks facing the Fund have been correctly identified and that appropriate procedures and arrangements (including insurance) are in place to minimise those risks or mitigate their effects.

The Chapel Fund has no long-term commitments, though some funds are committed for up to a year ahead. Much of the Fund’s expenditure automatically varies in accordance with income or can readily be adapted to changes in income. There is therefore no pressing requirement to retain a high level of reserves, though as a matter of good practice the Trustees expect to retain at least sufficient cash to meet an average of 4 months’ day-to-day expenditure, judged on a historical basis. At 31 March 2021 this objective was fully met.

The Trustees declare that they have approved this Annual Report.

Signed on behalf of the Chapel Fund Trustees

Sir Nicolas Bevan (Chairman of the Trustees)

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TREASURER’S REPORT THE OLD ROYAL NAVAL COLLEGE CHAPEL FUND FUND BALANCE AS AT 31 MARCH 2021

Assets TSB Main Account TSB Gift Aid Account COIF Deposit - Main Account COIF Deposit - Contingency Account Cash Gift Aid Tax repayment due Tax relief due on George Greaves legacy Total Assets Liabilities Outstanding charity donations Diocesan contribution Chapel Lift Plaque for Chapel Lift Music expenditure from Greaves bequest Erroneous Donation from Trinity Laban HMRC Tax liability from 2019/2020 claim Total Liabilities Balance	31 March 2021 31 March 2020 17,298 14,762 33,285 56,882 218 2,215 - 15,573
	50,801 89,431 9,189 11,549 607
	60,597 100,981 570 1,295 7,875 7,425 5,661 45,661 1,500 2,282 5,000 - 570 - 240
	17,888 60,191
	42,709 40,790

TREASURER’S REPORT THE OLD ROYAL NAVAL COLLEGE CHAPEL FUND INCOME AND EXPENDITURE: 1 APRIL 2020– 31 MARCH 2021

Income Cash collections Gift aided cash collections Standing order donations One off donations GA HMRC Tax Refund (2019-20) Charity box Chapel Lift donations - George Greaves Estate RBL donations collected for ORNC COIF interest Total Income Expenditure Greenwich Foundation Diocesan contribution Chapel Lift Chapel Lift donations - George Greaves Estate Charitable donations RBL donations collected for ORNC Chapel Supplies Flowers Chaplain's expenses Chapel secretary George Greaves’s music bequest Organist Music contribution Christmas tree Insurance Erroneous Donation from Trinity Laban Contactless Transaction Fees Total Expenditure Expenditure in excess of Income	739 3,369 21,564 16,214 11,549 397 130,000 256 21
	184,109 17,700 10,050 40,000 130,000 7,730 256 201 32 369 3,041 2,718 6,200 3,000 433 437 570 3
	222,739 (38,630)

TREASURER’S REPORT THE OLD ROYAL NAVAL COLLEGE CHAPEL FUND CHARITABLE DONATIONS: 1 APRIL 2020 – 31 MARCH 2021

Charities of the Month Bishops Lent Call (Apr) Royal Navy & Royal Marines Charities (May) AHOY Centre (Jun) Mission Aviation Fellowship (Jul) Greenwich & Bexley Hospice (Aug) Deptford Reach (Sep) Open Doors (Oct) Royal British Legion (Nov) Stonewall (Dec) Kings College Hospital (Carol Service Charity) Sea Cadets (Jan) Crossways (Feb) Bishops Lent Call (Mar) Other Charitable Donations Greenwich Foodbank Total Charitable Donations	510 400 400 410 430 500 475 820 405 365 410 410 570
	6,105 900
	900
	7,005

Sir Nicolas Bevan Mr. Omar Al-Hajali Chairman of Trustees Treasurer

Notes

Rounding

In line with the Charity Commission’s current guidance, all figures have been rounded to the nearest pound. As a result, the sum of individual items may not fully reconcile with the totals

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