REGISTERED COMPANY NUMBER: 04553653 (Englxnd and Wmles) REGISTERED CHARITY NUMBER: 1096308 Report of the Tru¥tees #nd Financial Statement8 for the YeAr Ended 31st March 2024 for Chichester HArbour Trust Sheen 8tickland (:hMrtei'ed Accounlants 7 East Pallant Chichester Wesl Sus%ex P019 ITR
Chiehester HarbourTrust Contents of the binxneial Statements for the Yexr Lnded 31sÉ March 2024 Page Report of the Truslees Independent Examiner's Report S¢Atement of Financial Activities Balfin¢¢ Sheet Notes ¢0 the FlnaD¢IRI Stfitements 10 to 18 Detfilled S¢Atement of Flnancisl Activities 19
Chichester Harbour Trust Report of the Trustees for the Year Ended 31st Mareh 2024 The Trustee5. who are also Dirwtors (Trf thc Gharity for the purposes of the Companies Act 2006, present their report with the. financial stal¢mcnls of the charity for th¢ year ended 31st March 2024. The Tru51ees have adopted the provisions of Accounting and Reporting by Charities.. Siatem¢nt of Recommended Practice applicable lo charitics preparing their accounts in accordance with the Financial Reporting Standard applicable in ihe. UK and Republic of Ireland {FKS 102) {effective l January 2019). OBJEC'I"IVES AND AcfiviTIES Objectives and Aim$ The Trust's principal activity and object, as stated in the memorandum and article5 of asso¢iation, is to acquire land, siles and buildings within the Chichester Harbour Area of Outstanding Natural Beauty (now 'Nalional Landscape") and its setting of landscape, environmental. recreational or historic value and to promote the conseryation. protection and improvement of the natural beauty and the wildlife of the area for the public benefit. In pursuing the obj¢ct of the charily, the 'frustees have referred to the Charity Commission's guidance on publi¢ benefit. All new acquisitions of land and the management of land held has bcen considered in the light of that guidaiice and Trustees have ensured that ihe charity's activity has promoted the conservation, protection and improvement of thc natural beauly and wildlife of ihe area for the benefit of all those members of the publi¢ who either live in or visit the Chichester14arbour National l.andscape. Page I
Chithester Harbour Trust Report of the Trustees for the Year Ended 31st MArth 2014 OILlbCl'lVLS AND ACTIVITIES S¢rategie5 for achieving objectives Develo ment and Land Ac uisition In 2023124 the Trustees have sought to continue the progress made since the formation of the charity. The charity's total land holding is 15 sites and over 375 acres. The Trustees have ensured the prop¢r conservalion and maintenance of the sites in their stewardship. The Trust made no further land acquisitions in 2023. The Trustees have Worked to increase awareness of the Trust within the local community by campaigning on local issues affecting Chichester Harbour ("the Harbour"). Activities for achieving objeetives Land Ac uisition The Trust has continued lo engage in discussions over tl)e possible purchase or lease of plots of land on both th¢ West Sussex and Han)psliire sides of the Harbour where it appears that Ihe ¢harity May b¢ able to assist in the proleclion of the landscape for the public benefit. A number of these negotiations continue, Land in Trusi Ownershi All the sites alrc¢idy owncd by Ihc 'frust ar¥ in a good slate of conservation aiid are managcd by a combination of management agrccmcnts lind Ica5¢5. A habitat restoration project was carried out al Marina Farm lo return the derelict brownfield sile to countryside for the benefit of nalure and the local community. Main Activities undertiken to further the charity's obltIveS Promolin the Trust The Trustees have contiiiued to promote the 'frust through the distribution of publicity material, th¢ website, social media and ncws oullcls. The views of the Trust are often sought. aiid quoted, by both lo¢al and national medial on issues affccling the cnvironmenl of Ihe harbour. The website is regularly updated and is well used by those secking iiiformation about the work of the Trust and ways to offer support. Additioiially, the I'rusl has continued to foster ils closc links with tlie foul. local authoritie5 tl)at have jurisdiction in the area, all of which have expi'essed Ihcir continuing strong support for the Trust. Overall the Trustees are satisfied tlial tlie charily is increasingly well known and Ihal the benefits it offers for the onservation of Chicl)ester Hxrbour are well appi'eciated. Polic and advoca The Trust continue8 tD play a kcy role in raising awareness of the environmenlal issues facing the harbour. To this end the Trust has been instrumental in arranging thL six-lnonihly harbour Su1mIt mLYlings, involving key partnci's (including Chichester Harbour Conservancy, the Lnvironmeni Agency, Nalural Lngland, Southern Waler}. Thc 'l'rust maintains a close working relationship with C.hichestcr l-larbour Conservancy. and with other stakeholders thmugh the Codstal Resilience Working Group. The Trust plays an aLtive role in advocating for the Harbour's environinenl both through local and national government. Page 2
Chichester Harbour Trust Report of the Trustees for the Year Ended 31st Mareh 2024 ACIIIEVEMENT AND PERFORMANC Fundraising MctiTitie$ The Truslees have continued io raise funds in order lo fulfil th¢ charity's object when suitable opportunities for land acquisition arise and to maintain and improve those sil¢s onG¢ a¢quir¢d. During the year donalions of £173,169 have been received, taking our total resources lo £2,746,680. The Trustees believe that the charity needs a signifi¢ant' fund if it is lo act quickly and effectively to protect threatened areas of land. To this end the Fighiiiig Fund campaign lo build a capital reserve of at least £1.5m for the purchase of sites was launched at an event in June 2022 and remiin5 open to donations. The Trustees Continue to believe that in the longcr-term Icgacies will provide an important part of the charily's income. They have once again emphasised legacies during all public fundraising activity during the year. 'I'hey havc also stressed the benefits of regular giving and ¢ncouraged supporters lo donate by Standing Order. The charity has been supported by a number of grant making trnsts and bodies. West Sussex County Council has conlinued to contribute to the Tru81's administration cost8 ihrough the provision of 01CC space and facilities. The Trustees exlend th¢ir thanks to all of these bodies. The Trustees are also particiilarly grateful to the many private individuals who have given their financial support to the charity ov¢r the pasi year. F4clors relevAnt to the Achlevemenl of objeetlves The trustees have sought lo ensure that the administration of the Trust i.s conductcd as efficiently, but also as economically as p055ible, and to Ihal eiid they continue to employ a Trust Administrator on a part time basis. The Trust's running costs are kept to a minimum. and the Administrator role is wide-ranging. ensuring the eificieni operalion of the Charity ihrough the management of the existing land portfolio, identifying and developing new projects, and ensuring that financial And Charity records are maintained to a high standard. The Administratols rolc includes the promotion of the charity through a wide range of media, and the ¢ontinued fundraising effort to ensure financial sustainability. FINA]YCIAL REVIEW InVtment pollcy and objectives The Trust's funds are deposited with Virgin Money and Santander UK. with a small cash account with Natwest. In addition. the Triisl holds £119.-354 in liquid investments with Wesi Sussex County Council. Reserves policy The Trustees have reviewed the position with regard to reserves and believe that it remains appropriate to retain PA minimum of six nionths running cosls as an operating reserve. Gcneral funds are Iield for future a¢quisitions of land, sites and buildings that meet the charity's objectives of conservation and the protection of natural beauty and wildlife. GoinR concern After Inaking appropriate cnqiiii'ies, the trLlStees have a tEa8onable Lxpectation that the company ha5 adequate resources to Continue in operational existence fur the foreseeable future. For this reason iliey conlinue lo adopt Ilie going concLrn basis in preparing the financial stateinents. HeritAge assets All the siles owned or leased by the Trust fall within the definition of Heritage Assets. A schedule of these assets including their valuation is included in the financial slateinenls. Page 3
Chichester Harbour Trust Report of the Trustees for the VeAr Ended 31st MArch 2024 STRUC'I'URE, GOVERNANCE AND MANAGEMENT Governing doeument The charity is controlled by its governing document, a deed of trust, and cOnstitul¢s a limited company, limited by guarantee, a5 defined by the Companies Act 2006. Charity constitution The Chichester Harbour 'rst was incorporated as a Private Limited Company on 4 October 2002 (Company No.. 4553653) and was registered as a charity with the Charity Commission under the Charities Act 1993 (Registed Charity No: 1096308). The charity is ¢onstituled as a company limited by guai'anlee and is therefore govcrned by a memorandum and articles of associatioii. The Direciors and Trustees confirm that the accounts comply with current statutory requirements aiid the charity's governing docuinents. Recruitment appointment of new trustees The management of th¢ ¢ompany is the responsibility of the Dir¢clors and Trustees who arc ¢l¢cled and co-opted under the terms of the Trust deed. OrgAnis*¢ionAI structure There are currently nine Trustees who set policies and decide the strnlegy of the Trust at regular meetings. New Trustees are appoinlod as required by thc Board on the recommendation of individual Trustees, advertising for volunteer5 if neceqsary and having regard for thc need for an appropriate spread of ¢'xperience and skill among members of ihe Board. During Ihe period 2023124. one new 'I ruslee was appointed by resolution at the rnceting of the Trustees on 21 April 2023 - Mrs Harriet Patterson. The then Chairinan, John Nelson CBE DL, relired at the meeting on 26 April 2024. Nick Backliouse was appointed a8 Chairinan al this Ineeting. Mr Stephen Sinyth also retired on 26 April 2024. 'I'he 1 rustees employ 8 I'rust Adminislrator (on a part lime basis) to assist in the day-lo-day running of the charity. The Trusl Adminislrator's salary was increased to £32,000 p.a. recognisins lhe.rise in cost of living and inflation rates at the AGM in October 2023. Page 4
Chichester Harbour Trust Report of the Trusteos for the Year Ended 31st MArch 2024 REFERFNCE AND ADMINIS"I"RA'fivL DL'fAILS Registered Company Jjumber 04553653 (England and Wales) Registered Chftrity number 1096308 Registered office 7 East Pallant Chichester Wesl Sussex P019 ITR Truslees N P Ba¢khouse (Chaimlan) P W Green T E James Ajjupp F J Macfarlane J F Nelson (Chairmai)) (resigned 26.4.24) C DNewell H J Patterson (appointed 21.4.23) S M J A Smyih (resigned 26.4.24) H O'sullivan ARDWinch CompAny Secretary N Ilorter Independent Examiner Paul Wrighl FCA DChA Sheen Stickland Chartcred A¢¢ountants 7 East Pallant Chichestcr West Sussex P019 ITR B*nkers Sanlander UK PIC PO Box 126 Newport Gwent NP19 7UP Approved by order of the bohrd of Irustees on ..... .. . and signed on its behalf by.. NPBack ous Chairman Page 5
Independent Ex#miner's Report to the Trustees of Chiehester Harbour Trust Independent examiner's report to the trustees of Chichester HArbour Trust ('the Company,) I report to the charity Trustees on my examination of th¢ accounts of the Company for th¢ ycar ended 3 1st March 2024. Responsibilitie$ and basis of report As th¢ ¢h¢irity's 'l'rusle¢s of the Company (and also its Directors for Ihe purpr)ses of company law) you are responsible for the preparation of the accounts in a&¢ordance with the requiremcnls of the Cotnpanies Acl 2006 ('th¢ 2006 Act,). Having satisfied myself that the accounts of the c.ompany are not requircd lo be audited under Part 16 of th¢ 2006 AGt and are eligible for independent examinalion, I report in respect of my ¢xaminalion of your charity's accounts as ¢arried out under Section 145 of Ihe C,harilies Act 2011 ('the 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 201 l Act. Independent exAminer's stAtement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confimi that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. l Confimi that no matters have come to my attention in connection with the examination giving me Cause to believe., accounting records were not k¢pt in r¢spe¢l of the Company as required by Se¢tion 386 of th¢ 2006 Act. or the accounts do not a¢¢ord wilh thos¢ r¢¢ords' or the accounts do not comply with the a¢¢ounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinalion. or the accounts have not been ppared iii accordance with the meihod5 alld principl¢s of the Sialement of Recommended PraGli¢e for accounting and reporting by Gharities (applicable to charities prcparing their accoun15 in aGGordanLc with the Financial ReporLing Standard applicable in the UK and Republic of Ireland (FRS 102)). have no concerns and have come a¢ross no otlier matters in connection with the examination to which attention should be drawn in this report in order lo cnable a proper understanding of the accounts lo be reached. Paul Wright FCA DChA Sheen Stickland ChartLred Accountants 7 East Pallant Chi¢h¢st¢r Wesl Sussex P019 ITR Page 6
Chichester Harbour Trust Stxtement of Financial Activities for the Year Ended 31st March 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fund Notes INCOMk AND ENDOWMLNI'S TrROM Donations and legacies 176,420 116,500 292,920 .143,711 Investment income Total 194545 116500 311045 1159788 EXPENDITURE ON Raising funds 15,275 ChAritfible Activities Charitable aclivity Total NET INCOME 151,613 116,500 268,113 1,090,129 RECO]YCILIATION OF FUNDS Total funds brought fonvard 2,439,689 38,878 2,478,567 1,388,438 TOTAL FUNDS CARRIED FORWARD 2 591302 155378 2 746 680 2 478 567 The notes form part of these financial stslements Page 7
Chichester H2rbour Trust BAlanee Sheet 31st March 2024 2024 Total funds 2023 Unrestricted funds Reslricted fund funds Notc5 FIXED ASSETS Heritage assets 2,286.597 2,286,597 2,186,913 CURRFNT ASSETS Debtors Investmenls Cash at bank 12 13 109,300 119,354 109,300 119,354 242,913 113,029 113,913 155,378 316,189 155,378 471,567 304.851 CRFDITORS Amounts falling due within one year 14 (11,484) (11,484) (13,197) NET CURRENT ASSETS 304 705 155378 460 083 291654 TOTAL ASSETS LESS CURRENT LIABILITIES 2,591,302 155.378 2,746.680 2,478,567 NET ASSE'I'S 2 591302 155 378 2 746 680 2 478 567 FUNDS Unr¢stricted funds Restricted funds 15 2,591,302 155378 2,439,689 TOTAL FUNDS 2 746 680 2 478 567 The cliaritable company is entitl¢d Éo exemption from audit under S¢ction 477 of the Companies A¢1 2006 for the year ended 3 Isl Mah 2024. The meinber5 have not required the company lo obtain an audit of ils finan¢ial statements for the year ended 31 st Mah 2024 in accordance witli Section 476 of the Companies Act 2006. The I rustees acknowledge their responsibilities for (a) ensuring that the charilable company kccps accounting records that cornply with Sections 386 and 387 of the Companies Act 2006 alld preparing financial staleiiieiits which give a true and fair view of the Stale of affairs of the charitable ¢on)pany a5 at the end of each financial year and of its surplus or deficii for each financial year in acwrdance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relaling to financial statemei)ts. so far as applicable to the charitable company. (b) The note5 form part of these financial.stalements Page 8 contii)ued...
Chiehester HArbour Trust Bal¥nce Sheet- contÉnued 31st March 2024 These financial siatements have been prepared in accordance with the provisions appliGabl¢ to charitable companies subjeGt to th¢ small companies regime. The fin ¢ial slate ents were approved by the Board of Tru.stees and authorised for issue on and werc signed on its behalf by: ous - Chairnian The notes form part of Ihese financial statements Page 9
Chichester Harbour Trust Notes Éo the Financial Statements for the Year Ended 31st March 2024 ACCOUNTING POLICIES Ba51$ of preparing the finaneiAI stAtements The financial slatemenls of Ihe charitable company, which is a publi¢ b¢nefil entity under FRS 102, have been prepared in accordance with the Charilies SORP (FRS 102) 'Accounling and Reporting by Charities.. Stalement of Recommended Praclice applicable to charities preparing their a¢counls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (liRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slatemenls have been prepared under the historical cost convention. Income All income is COgnised in the Slatemeiit of Financtal Activities once the charity has ¢ntiilement to the funds. it is probable that the income will be received and the amount can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient a¢¢Lira¢y the amount receivable. l-,viden¢e of entitlement lo a legacy exists when thc Charity has sufficient evidence thal a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in queqiion will noi be required lo satisfy claims in the estate. Rec¢ipi of a lega¢y musl be recognised when it is probable thai it will be received and thc fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. Grants are included in the Statement of Fii)an¢ial Activities on a receivable basis. the balance of income received for specific purposes bul nol expended during the period is shown in thc relevant funds on the Balance Sheet. Where income is rcGciv¢d in advance of cntitlement of receipt, its recognition is deferred lind included in creditors as dcferred income. Where entitlement occurs before income is received, the income is aGcriied. Incomc lax recoverable in relation lo investment income is recognised at the tim¢ the invcstmcnl incomc 15 receivablc. Expcnditure Liabilities are reCognid as expei)ditiire as soon as Ihcrc is a legal or conslru¢live obligation cominitting the charily to that expenditure, it is probabl¢ that a transfer of cconomic benefits wi15 be required iii seitlemenl and the amounl of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost rclated to the category. Where wsts Gannol be directly attributed to particular headings they have been allocalcd to activities on a basis consistent with the use of resources. The Costs of each activity arc made up of the total of dircct Losls and shared cosls, including support costs involved in undertaking each activity. Dii'ect eosts attributablc to a single activity are allocated directly lo that activity. Shared costs which contribule lo more tlian one activity and support cos15 which are not altributable lo a single aGtivity are apportioned between those a¢livilies on a basis con8lStenl with thc use of rcsources. Central staff costs are allocated 01) tlie basis of lime spent, and depreciation charges allocatcd un the portion of the assel's use. Expendilure on raising funds includes all expenditu incurred by the Charity lo I'aise funds for its charitable purposes and includes costs ofall fundraising activities cvcnls and non-charilable trading. Lxpcnditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectivcs, as well as any associated support costs. All expenditure is inclusive of irrecoverable VA T. Page 10 continued...
Chichester Hxrbour Trust Notes to the Financial Statements - C(bntinued for the Year Ended 31st Mareh 2024 ACCOIJNTING POLICIES - contiDued Heritage assets Where heritage assets have been purchased. they are inilially recognised al cost. After recognition. under the ost model, heritage assets are measured at wst less any accurnulaled d¢preciation and any ac¢umulatcd impairment loss. "raxalion The charity is exempt from corporation lax on its charitable activities. Fund accountillg Unrestricted funds can be used in accordance with Ihe charitable objectives at the dis¢r¢tion of the Iruslees. Designated funds comprise unrestricted funds that have been set aside bt the Iruslees for parti¢ular puryoses. Restricted funds can only be used for particular restricted piirposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of ¢a¢h nd is included in the notes to the financial statements. Pension to$t8 And other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company'5 pension scheme are charged to the Statement of Financial Activities in the period to which they relate. DONATI()NS AND LEGACIES 2024 2023 l)onalion8 Lega¢ies Grants 173,169 1,250 118501 971,200 3,750 168 761 292 920 Grants received, included in the above, are as follows: 2024 2023 The Ernest Kleinwort Charitable Trust The F Cjlenister Woodg¢r Trust Garfield Weston Foiindation Chichester Harbolir Conservancy Friends of Chichester Harboiir 'rhe Bollini Trust Chichestei. District Council Southbourne Parish (:ouncil Southern Water Other grants 50,000 18,400 100,000 31,813 5,000 10,000 1,449 5,000 65,239 361 118,501 168.761 Pagell continued...
Chichester Harbour Trust Notes to the FinanciAI Statements - continuell for the Year Ended 31st March 2024 INVESTMENT INCOME 2024 2023 Rcnls r¢¢eiv¢d Deposit account int¢r¢st Inveslment income 12.027 657 10,526 173 18.125 ISING FUNDS Raising donations legAcies 2024 2023 Fundraising income CHARITABI,Tr; AcfiviTIES COSTS Direct Costs (see note 6) Support COSts (see note 7) Totals Charitable activity DIRECT COSTS OF CFIARI'fABLE AcfivITILS 2024 2023 Staff costs Insurance Publicity Office costs Website cosls 34,834 408 1,404 1,586 312 35,681 102 2,659 3,259 726 SUPPOR'f COSTS CJoveri)an¢¢ costs Charitable activity Page 12 continued...
Chichester Harbour Trust Notes to the Financial Statements - continued for the Year Ended 31st March 2024 SUPPORT COSTS- continued Support costs, included in the abov¢, are as follows.. 2024 Charitabl¢ activity 2023 Total activities Auditors, rcmuneralion Independent Examiner fees Legal fees 4,000 180 3,560 828 NET INCOME/{EXPENDII'URE) Net incomel(expendilure) is slalcd after ¢hargingl(crediting); 2024 2023 Audilors, remuneration I.RI1ST Tr S, RF,MUNERAI'ION AND BENEFITS There were no trustees, rcmuiieration or other benefits for the year ended 31 sl March 2024 nor for the year ended 31 st March 2023. Trustees, expenses Ther¢ were,no Irust¢es' expenses paid for th¢ year ended 31stMarch 2024 nor for the year ended 31st March 2023. 10. STAFF COSTS 2024 2023 Wages and salarics Social security Costs Othcr pension costs 30,898 3,009 927 31,506 3.230 945 The average monthly numbcr of employccs during the yLar was as follows.. 2024 2023 Administration No employees received emoluments in excess of £60,000. There is one key management personnel being the I'rust Administrator and Gompany secretary. The total amount of employee benefits for services to the Charity during the year were £34,834 (2023= £35.68]) Page 13 ontiniied...
Chiehtster Harbour Trust Notes to the Financial StatemeTrts - continued for the Year Ended 31st March 2024 HERITAGE ASSKTS 'I'vtal MARKET VALUE At I sl April 2023 Additions 2,186,913 At 31st March 2024 2.286.597 NET BOOK VALUE Ai 3 1st March 2024 2 286 597 At 31 st March 2023 2 186913 Herit&g¢ Assets reeognised on the BalAnee Sheet Cos¢ Property Seaview Road, Hayling Island (acquired 2008) Waterside Meadow, Apuldram (acquired 2009) Maybush Copse, Chidham (acquired 2009) Sandy Point Lagoon, Hayling Island (acquired 2012) Field at Wittering Road, Itchenor (acquired 2018) Prinsted Land, Prinsted (acquired 2019) Oysler Quay, Pook Lane, Warblington (acquired 2019) Marina Fami, Thorney Road, Emsworth (acquired 2022) ToLirnerbury Farm, Hayling Island (acquired 2022) 20,000 100,000 215,000 6.000 178.823 277.877 50,962 428.350 1009 585 2 286 597 Seaview Road - Freehold - 0.04 acres of grassland and 0.4 acrcs of intertidal mud, Leased to adjacent landowner with partial public access. Waterside Meadow - Frechold - 15 acres of meadow, farmed by lenant farmer. Access via public footpaths. Maybush Copse - Freehold - 8 acrcs of gras51and and w(Trodland. Open to the public. Sandy Point Lagoon - Freehold - an 18.4 acre lagoon. Field al Wittering Road - freehold 3.2 acres of gra7.ing land. Prinsted lJand - Freehold 25 acres of arablc land. Oyster Quay- Freehold - A small intertidal wharf. Marina FatTr - Freehold - 2.5 a¢res of land. 'I'ourncrbury Farm - l 00 acres of land. Heritage assets donAted to the ChArity not recognised on the BAIAiice Sheet Chidimcrc Pond, Chidhain (ftcquired 2005) - Freehold - a 4.5 acre lake, leased lo adjacent landowner foi. 999 yeai's. Maintaiiicd a5 a nalui'e reserve but closed to thc public. ItGheiior M¢adow. Ilchei)or (acquired 2008) - Freehold 0.25 acres of meadow. Open lo Ilie public. Page 14 continued...
Chichester Harbour Trust Notes to the Finaneiil Statements - continued for the Year Ended 31st Mareh 2024 HERITAGE ASSk'l'S - eontinued Heritage assets donated to the Charity are not recognis¢d on th¢ Balance Shcel where no reliable c05t infornialion is available, and th¢ Charity believes that the cost of obtaining that valuation outweighs the benefit to the user of the accounts. Details of these donated assets are disclosed above. Heritage assets leAsed by the ChArity not recognised on the BalAnce Sheet The Dell, Chidham (acquired 2005) - Leasehold (125 years) - 1.3 acres of woodland leased from Chichester District Council and to be mainiained as a natur¢ reserve. Opcn to the public. Ellanore Spit, Chichester Harbour (acquired 2006) - Leasehold (999 years) 3 acres of vegetaled shingle leased from adjacent landowner and to be maintained as a nature reserve. Open lo the public. Eames F.arni. Thorney Island (acquired 2008) - l.easehold (999 years) - 176 acres of farniland including an education centr¢ with coastal graziiig marsh. Leased from West Sussex County Council and to be mainlain¢d as a nature reserve, Farnied by tenant farmer. Centre closed during Covid-19' ongoing use undcr review. Fishbourne Meadow. Fishbourne (acquired 2011) - Leasehold (10 years) - 7 acres of meadow leased from Wesl Sussex County Coun¢il to be maintained as a nature reserve. Open to the public. Heritage assets that are leased to the Charity are not recognised on the Balance Sheet where there is no value lo the leasehold or there is no reliable cost information available. Dctails of these leased asse¢8 arc disclosed above. All heritage assets held by Ihe Charity have bcen identified as environmentally sensitive siles as described above. 12. DLBTORS: AMOUNTS bALLING DUE WITHIN ONE YLAR 2024 2023 Other debtors Prepayments and accrued income 7.728 101572 102.946 109300 113029 13. CURRENT ASSET INVESTMENTS 2024 2023 Unlisted investment5 119354 113913 In order to obtain a competitive rate of intcrest, West Sussex County Council has invested monies on behalf of the Charity, along with their own investments on deposit. Page15 olltinued.
Chiehester Harbour Trust Notes to the FinaneiAI Statemeiits - continued for the Yemr Ended 31st M*rch 2024 14. CRLDI"fORS: AMOUNTS FALLING DUE WI'I'HIIY ONE YEAR 2024 2023 Trade creditors Other creditors Accruals and deferred income 8.391 213 7,847 200 13,197 15. MOVFMENT IN FUNDS Net movement in funds Transfers betwe¢n funds At 1.4.23 31.3.24 Unre$tric¢ed (unds General fund Fixed Asset Fund General operating fLind 232,776 2,186,913 151,613 (99,684) 99.684 284,705 2,286,597 2,439.689 151,613 2,591,302 Restrlcted funds Fighting Fund 38.878 116,500 155,378 TOTAL FUNDS 2 478 567 268113 2 746 680 Net movement in funds, included in the above are as follows,. In¢oming resources Resources expended Movement in funds Unrestrlcted funds Gen¢ral fund 194,545 (42,932) 151,613 Restricted funds Fighting Fund 116.500 116,500 TOTAL FUNDS 311,045 42,932} 268 113 Page 16 ontinued...
Chichester H&rbour Trust Notes to the Financial StAtements - eontinued for the Year Ended 31st Mareh 2024 15. MOVEMENT IIY FUNDS- Continued CompRratives for movement in funds Net movement in funds Tran5f¢rs between funds At 31.3.23 At 1.4.22 Unrestrieted funds General fund Fixed Asset Fund General operating fund 493,276 848.662 477,751 (738,251) 1.338,251 232.776 2,186.913 1,361,938 477.751 600,000 2,439,689 Restricted funds Fighting Fund 26,500 612,378 {600,000} 38,878 TOI'AL FUNDS 1388.438 ,090 129 2 478 567 Comparalive net movement in funds, included in the above are as follows., Incoming resourcc's Resources expcnded Movement in funds Unrestricted funds General fund 547,410 (69,659) 477,751 Restrlcted funds Fighting Fund 612,378 612.378 TOTAI. FUNDS 1159788 69 659) 090 129 A cu]Tent year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfer5 between fui)ds At 31.3.24 At 1.4.22 Unrestricted funds General fund Fixed Asset Fund General operating fund 493,276 848,662 20,000 629,364 (837,935) 1,437,935 284,705 2,286,597 1,361,938 629,364 600,000 2,591.302 Restrieted funds Fighting Fund 26,500 728,878 (600,000) 155,378 TOTAI, FUNDS 1,388 438 1.358 242 2 746 680 Page 17 conlinued...
Chiehester Harbour Trust Notes to the TrinAneiAI Ststements - eontinued for the Year Ended 31st March 2024 15. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined net movemenl in funds, included in the above ar¢ as follows.. Incoming rcsources Rcsourc¢s expended Movement in funds Unrestricted fund5 General fund 741,955 (112,591) 629,364 Restricted funds Fighting Fund 728,878 728,878 TOTAL FUNDS 1470833 112,591) 1358 242 Unrestritted funds Certain unrestricted funds have been designated by the Trustees as follows: rixed asset fund - fixed assets held by the charity.and used to achicve their charitable objectives. General operating fund - funds designaled to cover 6 months worth of operating costs. Re$tricled funds The Fighting fund is a campaign to build a iapit¢il rc5ervc of at Icast £1.5m for the purchase of sites. Transfers between funds A transfer of £99,684 was made from Ihe general fund to the fixed asset fund, being the restoration work at Marirba Farm. 16. RELATED PARI'Y DISCI,OSURES Trustees and other related parties made donations to the '1 rust totalling £5,000 in the year ended 3 Isl March 2024. Page 18
Chichester Harbollr Trust Detailed Statement of Fin#nei#l Activities for the Year ded 31st MAreh 2024 2024 2023 INCOME AND ENDOWMII NTS DonAtion$ and legAcies Donations Legacies Grants 173,169 1.250 118.501 971,200 3,750 168 761 292,920 1,143.711 Investmont income Rents received Deposit account interest Investment income 12,027 657 10,526 173 Total Incoming resources 311,045 1,159,788 EXPENDITURE Rlising donations and legacles Fundraising incom¢ 15,275 Chari¢4ble Activities Wagcs Social security Pensions Insurance Publi¢ity 01¢¢ costs Website costs 30,898 3,009 927 408 1,404 1,586 312 31,506 3,230 945 102 2,659 3,259 726 38,544 42,427 Support costs GovernAnee costs Auditors, remuncration Independent Examincr fees Legal fees 4,000 180 3.560 828 Total resources Lxpended 42,932 69,659 Net income 268 113 1090 129 This page does not forin part of the statutory financial stateinents Page 19