## **OLD ROYAL NAVAL COLLEGE CHAPEL FUND**
## **TRUSTEES’ ANNUAL REPORT 2022/2023**
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 2023.
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 Giles Segal Treasurer Mr Robert Henderson Mrs Marjorie Ouvry Mr Howard Jones Rev Dr Robert Tobin
During the period covered by the report Mr Omar Al-Hajali served as a Trustee until 10 October 2022 in the place of Mr Segal and Rev Dr Robert Tobin served as a Trustee from 11 September 2022 when he assumed his appointment as Chaplain of the Old Royal Naval College Chapel.
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 about £28,080 towards the costs of maintaining religious services and £10,260 towards the costs of maintaining music in the Chapel. The Fund also donated £10,500 to the Diocese of Southwark to help meet Church overheads and made donations totalling £10,446 for other charitable purposes. In exercising their duties the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.
The principal source of the Chapel Fund’s regular income derives from donations made by members of the congregation. During 2022/2023 regular congregational income has remained steady but, as expected, the level of oneoff donations has fallen significantly. At the same time Chapel expenditure has risen significantly, with the net result of a modest reduction in the Fund balance at the end of the year. The Trustees regard the present level of reserves as satisfactory, providing scope to meet the likely demands on the Chapel Fund in the near future. They will nevertheless continue to keep a close eye 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, data protection, health and safety, management of volunteers, reserves and investments and risk management; 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 2023 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)
1 June 2023
## **OLD ROYAL NAVAL COLLEGE CHAPEL FUND ANNUAL ACCOUNTS 2022-2023**
## **Fund balance as at 31 March 2023**
|**Assets**
TSB Gift Aid Account
COIF Deposit - Main Account
**Cash**
Gift Aid Tax repayment due
**Total Assets**
**Liabilities**
Outstanding charity donations (Jan-Mar)
Diocesan contribution
Ante-Chapel Scaffolding
Music expenditure from Greaves bequest
**Total Liabilities**
**Balance**|**31 March 2023**
**31 March 2022**
57,165
59,862
222
218|
|---|---|
||**57,387**
**60,080**
9,526
11,736|
||**66,913**
**71,816**
1,735
1,605
7,875
7,875
-
1,680
1,228
2,282|
||**10,838**
**13,442**|
||**56,075**
**58,374**|
|**Income and Expenditure: 1 April 2022 - 31 March 2023**|**Income and Expenditure: 1 April 2022 - 31 March 2023**|
|---|---|
|**Income**||
|Coffee/tea collections|1,682|
|Collections|13,075|
|Standing order donations|24,365|
|One off donations|5,059|
|Other donations
GA HMRC Tax Refund (2021-22)
Charity box
Choir supper and Carol service
Harvest Lunch
Bake sales
Special collections
COIF interest
**Total Income**
**Expenditure**
Greenwich Foundation
Diocesan contribution
Charitable donations
Chapel Supplies
Subscriptions
Printing
Flowers
Chaplain's expenses
Chapel secretary
Gifts
ULEZ
Organist
Music contribution
Christmas tree
Choir supper and carol service
Hospitality
Insurance
Scaffolding
Contactless Transaction Fees
**Total Expenditure**
**Expenditure in excess of Income**|247|
|---|---|
||11,722|
||784|
||1,669|
||449|
||1,344|
||1,044|
||4|
||**61,443**|
||21,200|
||10,500|
||10,446|
||943|
||223|
||519|
||167|
||404|
||1,033|
||1,500|
||1,275|
||6,100|
||4,158|
||458|
||1,930|
||389|
||362|
||2,520|
||10|
||**64,136**|
||**(2,693)**|
## **Charitable donations: 1 April 2022 - 31 March 2023**
|**Charities of the Month**|||
|---|---|---|
|Mission Aviation Fellowship (Apr)||530|
|Mission to Seafarers (May)||605|
|David Nott Foundation (Jun)||520|
|Air Ambulance (Jul)||465|
|Afghan Aid (Aug)||470|
|Thames Reach (Sep)||450|
|Sea Scouts (Oct)||560|
|Royal British Legion (Nov)||1,05
0|
|Dementia UK (Dec)||530|
|Chain of Hope (Carol Service Charity)||1,14
5|
|Greenwich, Deptford and Rotherhithe Sea Cadets Unit
(Jan)||600|
|International China Concern (Feb)||500|
|Bishop's Lent Call (Mar)||635|
|||**8,06**|
|||**0**|
|**Other Charitable Donations**|||
|DEC Pakistan Appeal||250|
|DEC Turkey Syria Earthquake Appeal||500|
|Greenwich Foodbank||900|
|||**1,65**|
|||**0**|
|**Total Charitable Donations**||**9,71**
**0**|
|**Sir Nicolas Bevan**|**Mr. Giles Segal**||
|**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
## **Independent Examiner’s Report to the Trustees of the Old Royal Naval College Chapel Fund**
I report to the Trustees on my examination of the accounts of The Old Royal Naval College Chapel Fund for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity Trustees of the Fund 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 Fund’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:
1. Accounting records were not kept in respect of the Fund as required by section 130 of the Act; or
2. The accounts do not accord with those records.
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.
## **Signed:**
Name: Michael Wood
Address: 66 Leysdown Road, Mottingham, London SE9 3NB
Date: 22[nd] November 2023