2025-03-31-accounts

OLD ROYAL NAVAL COLLEGE CHAPEL FUND

TRUSTEES’ ANNUAL REPORT 2024/2025

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 2025.

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 Mr Howard Jones Rev Dr Robert Tobin Mrs Catherine Steer

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 £28,160 towards the costs of maintaining religious services and £12,450 towards the costs of maintaining music in the Chapel. Two major donations totalling £33,000 were made to the Greenwich Foundation for the Old Royal Naval College to fund expenditure on capital projects of benefit to the Chapel. The Fund also donated £12,000 to the Diocese of Southwark to help meet Church overheads and made donations totalling £10,706 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 2024/2025 such donations have shown a small increase and this has been supplemented by a rise in the interest received during the year from the COIF Charities Deposit Fund.

At the same time regular Chapel expenditure has also risen, with a marked increase in expenditure on music. Despite this and the major items of expenditure mentioned above, 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, risk management and safeguarding; they have also 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 2025 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 2025

Treasurer's Report The Old Royal Naval College Chapel Fund Fund balance as at 31 March 2025

Assets TSB Account COIF Charities Deposit Account Cash Gift Aid Tax repayment due Total Assets Liabilities Outstanding charity donations (Jan-Mar) Diocesan contribution Music expenditure from Greaves bequest Total Liabilities Balance	31 March 2025 31 March 2024 9,829 9,537 22,238 52,307
	32,066 61,843
	11,221 10,603
	43,287 72,446 1,980 1,440 9,000 9,000
	- 725
	10,980 11,165
	32,307 61,281

The Old Royal Naval College Chapel Fund Income and Expenditure: 1 April 2024 - 31 March 2025

Income

Coffee/tea collections	1,922
Collections	15,615
Standing order donations	24,837
One off donations	8,833
Other donations	633
GA HMRC Tax Refund (2023-24)	10,603
Charity box	947
Choir supper and Carol service	1,580
Harvest Lunch	318

Bake & Craft Sales Queen Mary II Concert COIF interest Total Income Expenditure Greenwich Foundation Ante-Chapel Restoration Work Viscount Organ Diocesan contribution Charitable donations Chapel Supplies Subscriptions Printing Flowers Chaplain's expenses Chapel secretary Dry Cleaning Cassocks ULEZ Organist Music contribution Christmas tree Choir supper and carol service Hospitality Insurance Contactless Transaction Fees Total Expenditure Expenditure in excess of Income	895
	45
	2,431
	68,658
	21,200
	22,500
	10,500
	12,000
	10,706
	740
	216
	779
	141
	859
	1,545
	615
	1,400
	7,650
	4,186
	508
	2,094
	406
	362
	28
	98,435
	(29,777)

Charitable donations: 1 April 2024 - 31 March 2025

Charities of the Month Smile Train UK (Apr) Seafarers Charity (May) Become (Jun) Rodolfus Foundation (Jul) Alzheimers UK (Aug) Thames Reach (Sep) Starlight Childrens Foundation (Oct) Royal British Legion (Nov) Greenwich Winter Night Shelter (Dec) The Lullaby Trust (Carol Service Charity) Greenwich, Deptford and Rotherhithe Sea Cadets Unit (Jan) Transforming Lives For Good (Feb) Bishop's Lent Call (Mar) Other Charitable Donations DEC Middle East Appeal C. Medhurst Legacy - Sea Cadets Greenwich Foodbank Total Charitable Donations	520 575 560 500 520 565 605 915 675 1,240 600 540 840
	8,655 500 1,000 900
	2,400
	11,055

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 2025.

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: Mick Wood

Name: Michael Wood Address: 66 Leysdown Road, Mottingham, London SE9 3NB Date: 22[nd] September 2025