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2025-03-31-accounts

Chichester Community Development Trust Limited by Guarantee

Trustees Report

and Financial Statements

for the year ended 31 March 2025

Registered Charity Number 1140014 Registered Company Number 07114119

CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

I NDEX

Page
Charity Information 1
Report of the Trustees 2
Independent Auditor’s Report 7
Group Statement of Financial Activities 10
Charity Statement of Financial Activities 11
Group and Charity Balance Sheet 12
Group and Charity Statement of Cash Flows 13
Accounting Policies 14
Notes to the Financial Statements 17

CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHARITY INFORMATION

Trustees

Sue James, Chair Jonathan Brown Peter Day Nicky Dodds John Eagles Mike Robins

Chief Executive Officer and Company Secretary

Clare de Bathe (To August 2025) Liz Woodsell (From September 2025)

Registered and Principal Office

The Water Tower Bloomfield Drive Chichester West Sussex PO19 6BZ

Registered Charity Number 1140014

Registered Company Number 07114119

Independent Auditor

Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Bank

Unity Bank Plc 9 Brindley Place Birmingham B1 2HB

Investment manager

CCLA Fund Managers Senator House 85 Queen Victoria Street London EC4V 4ET

Page 1

CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

REPORT OF THE TRUSTEES

The Trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2022 the Companies Act 2006, together with the accounts for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102), effective 1 January 2019, in preparing the annual report and financial statements of the charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The CCDT Treasurer is the professional adviser on financial matters. To enable him/her to fulfil these duties and to ensure the Trustees are provided with adequate financial advice the Treasurer:

The CCDT Chief Executive is responsible for the leadership and general administration of the organisation. The Chief Executive is responsible for:

We will ensure that we have Board level representation from the communities we serve, and that we work effectively with Residents’ Associations, other voluntary agencies, statutory organisations, and our local neighbours, such as Chichester University and the Sussex Partnership NHS Trust. Customer satisfaction with our facilities and the events we offer is a key performance indicator for us.

We will use a range of communication methods to reach out to all parts of our community and create events and initiatives which empower and enable community interconnections. A key element of our core funding comes from residents themselves, and we create a tangible value for this support, and ensure that we communicate this value, and the wider work of the CCDT effectively to our residents.

The CCDT Treasurer and Chief Executive are jointly responsible for maintaining a continuous review of the financial regulations and for submitting any necessary additions or changes to board of trustees for approval and for reporting. The CCDT Chief Executive and Treasurer are responsible for ensuring that all staff, contractors and agents under their respective control and direction are aware of the existence and content of and have access to these financial regulations and other internal regulatory documents and that these are complied with. Maintaining proper accounting records is one of the ways in which the CCDT discharges their responsibility for stewardship of resources. The main sources of funding for the charity over the funding period were income from operational activities, resident contributions, , grants from bodies such as Chichester District Council, and consultancy income. The charity holds it investments with the CCLA charitable investment COIF – this is reviewed annually by our treasurer. Reserves are held in accordance with the reserves policy and are held at 6 months running costs of the charity.

The timeline for the transfer of assets from the developers to CCDT is set out in the S.106 agreements with the developers and is determined by the rate at which the new housing on the sites is occupied. It is therefore subject to change. Once transferred, some assets can be used immediately as they have been built to CCDT’s specification. Others need extensive refurbishment to enable them to be brought into use. As we take over each facility, we will work with the local community to agree how best to use it, to ensure that it is financially sustainable, and helps us to meet our community goals. Once this work is complete, we will produce publish a business plan for each facility. Our business plans will aim to earn a surplus from each facility where this is possible, to enable resources to be provided for other initiatives within the community. Annual achievement of the objectives in the business plan will be a key performance indicator for us.

We are fortunate in having a team of talented and committed staff who form the basis of our workforce. However 6 FTE people are not be able to deliver all the work we have outlined, and we need to recruit, develop and rely on a

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

REPORT OF THE TRUSTEES

cadre of volunteers to help us with this work. The revenue required to deliver our strategy will come from a mixture of recurring income from facility hire, car parking charges, ticket income etc., non-recurrent grant funding, and residents’ contributions. An annual business plan will be prepared for approval by the Trustees and staff remuneration and pay is considered annually.

Budget and capital programmes preparation

Our strategic vision for the next five years is to mature into an established organisation that is a key part of Chichester’s drive to build a strong, cohesive, and creative community integrating the substantial amount of new housing and new residents into the city. We will have a national reputation as one of the best community development initiatives in the UK and will be recognised and valued by residents and the wider Chichester community. Our key role is to build community spirit, create community action and find solutions to community problems for the neighbourhoods we serve. Over the next two years CCDT will begin plans for the studio’s development; and take on a social enterprise space at Shopwyke Lakes whilst managing the chapel and pavilion. At the end of this period of work the CCDT will be able to support the community to live and work more effectively towards the five ways to wellbeing. By 2025, we want to have created a series of new community assets which are financially viable and valued by residents and the wider community.

Risks

The trustees and management of Chichester Community Development Trust have given due thought and consideration to the major risks to which the charity may be exposed and have systems in place which are designed to mitigate those risks.

OBJECTS AND ACTIVITIES

The objects of the charity are:

  1. To pursue any charitable purpose, primarily for the benefit of the community in the area of benefit and in particular;

  2. To own, manage and maintain community facilities for the public at large and/or those who, by reasons of their, age, infirmity or disablement, poverty or social and economic circumstances, have need for such facilities;

  3. To create training and employment opportunities by the provision of workspace buildings, and/or land for use on favourable terms;

  4. To advance education, training and retraining, particularly among unemployed people;

  5. To promote public safety and the prevention of crime;

  6. To develop the capacity and skills of the members of the community in such a way that they are better able to identify, and help meet, their needs and participate more fully in society;

  7. To develop and encourage, foster and promote the physical, economic and social development and regeneration of the area by building partnerships with organisations with similar aims;

  8. To protect or conserve the environment; and

  9. To relieve poverty.

In determining how best to pursue these objects the Trustees have had regard to the Charity Commission’s guidance on public benefit set out in the public benefit guides PB1, PB2 and PB3, specifically when making decisions or reviewing the Charity’s aims and objectives, and in developing plans for future activities and projects. We are now at the beginning of our new 5 year strategy from 2025-30.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

REPORT OF THE TRUSTEES

Policies and objectives

In February 2025 we held a Stakeholder Event to consider our strategic priorities for the next five years. Over 50 stakeholders, from representatives of Council staff and members, Residents’ Associations, Licence holders and other business partners, to staff members and the Trust Board were invited. Nearly 40 people attended and were asked to review the SWOT analysis prepared by senior staff and identify the most important threats and opportunities, and then to discuss a series of questions concerning

Following discussion, we agreed that the strategic objectives for 2025/2030 remain unchanged, as follows:

These will form the structure around which our annual business plan and performance management arrangements will be organised in each of the next five years.

ACHIEVEMENTS AND PERFORMANCE

We have continued to work with a range of delivery models to provide services at The Chapel, and The Pavilion at Graylingwell Park, The Lodge at Keepers Green, and The Community Hall at Rousillon Park. We are proud that wide range of services are provided from these assets, including wellness services , exercise classes, café facilities, meeting places for a number of community groups and services and a pre-school nursery. In addition, with the help of a grant from Sports England, we opened a community owned cycle repair workshop and café at Shopwyke Lakes where cycle maintenance classes and bicycle refurbishment services with the aim of upcycling redundant and unwanted bikes to reduce landfill and provide affordable second-hand bikes for sale are offered.

In August 2024 we finalised the transfer of the land and buildings that will form the Marchwell Studios. This transfer included a dowry representing the costs of developing the assets to the core and shell condition required by the S106 agreement. Once the transfer was complete we were able to apply for a grant from the Heritage Lottery Fund to finalise the buildings. We were delighted to learn in December 2024 that our grant application had been successful, and work began in January 2025 to finalise our plans and prepare tender documents. We hope to start on site on Marchwell Studios very shortly.

Further good news came in November 2024 when we learnt that we had been honoured with the Kings Award for Voluntary Services. We were one of only five voluntary organisations in Sussex to receive this award, and we were delighted to hold an afternoon tea party to welcome the Lord Lieutenant of Sussex when she visited us in March 2025 to present the award on behalf of The King.

We also welcomed a number of new Trustees in 2024, all of whom have shown great interest in the work of CCDT, and are offering specialist expertise which is of great support to the Trust Board. I am particularly indebted to John Eagles our Treasurer, who has worked closely with Clare de Bathe and her team to ensure that, once again, we have managed to achieve a balanced budget at the end of 2024/25.

Although we have experienced some difficult times during 2024/25, with the protracted negotiations relating to transfer of Marchwell Studio assets, and incursions from groups of travellers on Havenstoke Park and Keepers Green, we have, as ever, relied entirely on the skills, energy and enthusiasm of our wonderful group of staff, without whom, none of the above would have been achieved. I am enormously grateful to Clare de Bathe and her team for all the work and effort they have put into developing community services that we can all be proud of.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

REPORT OF THE TRUSTEES

Investment performance

The charity holds investments with CCLA within their COIF Charities Investment Fund. Investment holdings are reviewed annually by our treasurer. Reserves are held in accordance with the reserves policy and are held at 6 months running costs of the charity. The trustees were satisfied with the performance of the investments held in the year under review.

FINANCIAL REVIEW

To conduct financial business efficiently, Chichester Community Development Trust (CCDT) ensures that sound financial management policies are in place, and that these are strictly observed by every employee and trustee under the control and direction of either the CCDT Treasurer or Chief Executive. The CCDT Treasurer, Chair of trustees and the CCDT Chief Executive work closely together. This working relationship is of fundamental importance. All team members with financial responsibilities ensure that their responsibilities can be fully delivered and assurances and information exchanged to fulfil the statutory and professional responsibilities of the organisation.

During the year under review the charity had total income of £2,657,970 (2024: £999,459) and total expenditure of £947,213 (2024: £1,038,156) before losses on investments of £26,650 (2024 gains: £48,118) giving an overall net income of £1,684,107 (2024: £9,421).

At the balance sheet date the charity had total funds of £5,794,792 with restricted funds of £2,630,225 and fixed assets of £3,380,521 the charity’s free reserves were a deficit of £215,954. The trustees acknowledge deficits may arise at accounting period end from time to time due to the nature and timing of cash flows and are content the charity remains in the position to meet its obligations as they fall due.

From a group context total income amounted to £2,825,479, with expenditure £1,109,390 and net income after losses on investments of £1,689,439.

PLANS FOR FUTURE PERIODS

A report comparing actual income and expenditure with the budget for the organisation as well as any specific project budgets is prepared every quarter. Cash flow and a statement of assets/liabilities compared against budget is prepared and presented to the Directors every quarter. A projection for the year-end position is produced compared against budget. The CCDT board of trustees approve the general format and approach to setting the revenue budget and capital programme. Proposed budgets should include the sums allocated to different services and projects, levels of grant income and proposed precept levels and contingency and reserve funds. Both will be funded through capital grants and fundraising campaigns. The charity holds its investments with the CCLA Charitable investment COIF – this is reviewed annually by our treasurer and we hold and invest policy that is reviewed every two year. There are no subsidiary undertakings in this year or planned for next year.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

REPORT OF THE TRUSTEES

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also directors of Chichester Community Development Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

APPOINTMENT OF AUDITORS

Blue Spire Limited, have expressed their willingness to stand for reappointment and a resolution proposing their reappointment will be put forward at the Annual General Meeting of the charity.

This report has been prepared having taken advantage of the small companies’ exemption in the Companies Act 2006.

Approved by the Trustees and signed on their behalf.

Susan James Director – Chair

Date

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CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT AUDITOR’S REPORT

Independent Auditor’s Report to the Trustees of Chichester Community Development Trust

Opinion

We have audited the financial statements of Chichester Community Development Trust (the ‘parent charitable company’) and its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Group Statement of Financial Activities, the Charity Statement of Financial Activities, the Group and Charity Balance Sheet, the Group and Charity Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the report of the trustees, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT AUDITOR’S REPORT

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustee

As explained more fully in the statement of trustees responsibilities set out on page 5, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Charity and the sector in which it operates, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act, Companies Act, and Employment Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. There is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.

Audit procedures performed by the engagement team included:

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CHICHESTER COMMUNITY DEVELOPMENT TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

INDEPENDENT AUDITOR’S REPORT

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Blue Spire Limited (Statutory Auditor)

Cawley Priory South Pallant Chichester West Sussex PO19 1SY

Date

Blue Spire Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Note
Income and endowments from:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Total
Net gains/(losses) on investments
15
Net Income/(expenditure)
Gross transfers between funds
20
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
19, 20
Total funds carried forward
19, 20		 Unrestricted
Funds
£
151,620
245,987
214,413
30,350
642,370
171,575
653,759
825,334
(26,650)
(209,614)
(41,936)
(251,550)
3,330,547
3,078,997		 Restricted
Funds
£
2,183,109
-
-
-
2,183,109
-
284,056
284,056
-
1,899,053
41,936
1,940,989
689,236
2,630,225		 2025
Total
Funds
£
2,334,729
245,987
214,413
30,350
2,825,479
171,575
937,815
1,109,390
(26,650)
1,689,439
-
1,689,439
4,019,783
5,709,222		 2024
Total
Funds
£
618,984
319,026
493,575
15,251
1,446,836
518,379
1,032,454
1,550,833
48,118
(55,879)
-
(55,879)
4,075,662
4,019,783

None of the charity’s other activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 10

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Note
Income and endowments from:
Donations and legacies
1
Charitable activities
2
Other trading activities
3
Investments
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Total
Net gains/(losses) on investments
15
Net Income/(expenditure)
Gross transfers between funds
20
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
19, 20
Total funds carried forward
19, 20		 Unrestricted
Funds
£
151,620
245,987
46,904
30,350
474,861
7,244
655,913
663,157
(26,650)
(214,946)
(41,936)
(256,882)
3,421,449
3,164,567		 Restricted
Funds
£
2,183,109
-
-
-
2,183,109
-
284,056
284,056
-
1,899,053
41,936
1,940,989
689,236
2,630,225		 2025
Total
Funds
£
2,334,729
245,987
46,904
30,350
2,657,970
7,244
939,969
947,213
(26,650)
1,684,107
-
1,684,107
4,110,685
5,794,792		 2024
Total
Funds
£
618,984
319,026
46,198
15,251
999,459
-
1,038,156
1,038,156
48,118
9,421
-
9,421
4,101,264
4,110,685

None of the charity’s other activities were acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

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CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Note
FIXED ASSETS
Asset under construction
12
Tangible assets
13
Investment in subsidiary
14
Investments
15
CURRENT ASSETS
Stocks
Debtors
16
Short term investments
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
18
Net current assets/(liabilities)
Net assets/(liabilities)
THE FUNDS OF THE CHARITY
Restricted funds
19
Fixed asset reserve
Fair value reserve
General funds
Unrestricted funds
19, 20
Total charity funds		 GROUP
2025
£
176,798
3,380,521
-
545,334
4,102,653
-
57,166
1,500,000
146,198
1,703,364
96,795
1,606,569
5,709,222
2,630,225
3,380,521
67,508
(369,032)
3,078,997
5,709,222		 2024
£
-
3,468,992
-
571,984
4,040,976
5,496
71,470
-
89,949
166,915
188,108
(21,193)
4,019,783
689,236
3,462,346
67,508
(199,307)
3,330,547
4,019,783		 CHARITY
2025
£
176,798
3,380,521
1
545,334
4,102,654
-
131,794
1,500,000
141,653
1,773,447
81,309
1,692,138
5,794,792
2,630,225
3,380,521
67,508
(283,462)
3,164,567
5,794,792		 2024
£
-
3,462,346
1
571,984
4,034,331
-
113,726
-
87,868
201,594
125,240
76,354
4,110,685
689,236
3,462,346
67,508
(108,405)
3,421,449
4,110,685

For the year ending 31 March 2025 the

Directors’ responsibilities:

The financial statements have been

The accompanying notes form part of these financial statements.

Approved by the Trustees and signed on their behalf.

Susan James Date Director - Chair

Registered Company Number: 07114119 Registered Charity Number: 1140014

Chichester Community Development Trust

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CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Net cash flow from operating activities (see below)
Cash flow from investing activities
Payments in respect of capital works
Payments to acquire tangible fixed assets
Proceeds on sale of tangible fixed assets
Payments to acquire fixed asset investments
Proceeds on sale of investments
Investment income
Net cash flow from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Cash and cash equivalents consist of:
Cash at bank and in hand
Short term deposits
Cash and cash equivalents at 31 March		 2025
2024
£
£
1,696,660
(44,056)
(176,798)
-
-
(352)
6,037
-
-
-
-
-
30,350
15,251
(140,411)
14,899
1,556,249
(29,157)
89,949
119,106
1,646,198
89,949
146,198
89,949
1,500,000
-
1,646,198
89,949
GROUP		 2025
2024
£
£
1,700,233
(22,417)
(176,798)
-
-
-
-
-
-
-
-
-
30,350
15,251
(146,448)
15,251
1,553,785
(7,166)
87,868
95,034
1,641,653
87,868
141,653
87,868
1,500,000
-
1,641,653
87,868
CHARITY		 2025
2024
£
£
1,700,233
(22,417)
(176,798)
-
-
-
-
-
-
-
-
-
30,350
15,251
(146,448)
15,251
1,553,785
(7,166)
87,868
95,034
1,641,653
87,868
141,653
87,868
1,500,000
-
1,641,653
87,868
CHARITY
15,251
(7,166)
95,034
87,868
87,868
-
87,868

Reconciliation of net income to net cash flow from operating activities

Net income for the year
Adjusted for:
Investment income
(Gains)/losses on investments
Depreciation and impairment of tangible fixed assets
Loss/(profit) on disposal of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors		 2025
2024
£
£
1,689,439
(55,879)
(30,350)
(15,251)
26,650
(48,118)
82,434
87,686
-
-
5,496
(5,496)
14,304
(39,109)
(91,313)
32,111
7,221
11,823
1,696,660
(44,056)
GROUP		 2025
2024
£
£
1,684,107
9,421
(30,350)
(15,251)
26,650
(48,118)
81,825
85,563
-
-
-
-
(18,068)
(34,595)
(43,931)
(19,437)
16,126
(31,838)
1,700,233
(22,417)
CHARITY		 2025
2024
£
£
1,684,107
9,421
(30,350)
(15,251)
26,650
(48,118)
81,825
85,563
-
-
-
-
(18,068)
(34,595)
(43,931)
(19,437)
16,126
(31,838)
1,700,233
(22,417)
CHARITY
(31,838)
(22,417)

Page 13

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

General information, scope and basis of the financial statements

Chichester Community Development Trust is a private company, limited by guarantee, incorporated in England with the company number 07114119. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office and principal place of business is The Water Tower, Bloomfield Drive, Chichester, West Sussex, PO19 6BZ and its operations are outlined in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Consolidation

The results of the charity's wholly owned subsidiary (Connecting Spaces Ltd) are consolidated on a line by line basis with any intragroup balances and transactions eliminated in full during the year under review.

Connecting Spaces Ltd is a company, limited by shares, incorporated in England with the company number 12954680. Chichester Community Development Trust owns 100% of the issued share capital being 1 ordinary £1 share of Connecting Spaces Ltd. The trading subsidiary's registered office is the same as the charity as detailed above.

The charity and its subsidiary now have a uniform reporting date and reporting period. The results of Connecting Spaces Ltd for the period under review are shown in note 13 of these financial statements together with an outline of its operations.

Incoming resources

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from government grants is recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Donated assets, goods, facilities and professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such items and services. A corresponding amount is recognised in expenditure and fixed assets as appropriate. Fixed asset gifts in kind are recognised when receivable and are included at fair value where available or the value attributed by the donor. They are not deferred over the life of the asset.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised when received and dividend and rent income is recognised as the charity’s right to receive payment is established.

Page 14

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

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. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Governance costs are costs associated with the general running of the charity as opposed to the day to day activities Governance costs have been allocated to cost of charitable activities on the basis they form part of carrying out those activities.

VAT

The charity is not registered for VAT and therefore VAT is not recoverable on the charity's expenditure. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Employee benefits

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Pension costs

The charity operates defined contribution pension schemes. Contributions to the scheme are charged to the statement of financial activities on a payable basis.

Taxation

The charity is considered to pass the tests set out in sections 466 to 493 Corporation Tax Act 2010 (CTA 2010), as such no income tax is payable on the charity's activities.

Fixed assets

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property 2% - 20% straight line Leasehold property 2% straight line Plant and machinery 10% straight line

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price including transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Investments in subsidiaries are measured at cost less impairment.

Page 15

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents

Cash and cash equivalents are short term highly liquid assets and are held at fair value. These include cash on deposit and other similar accounts with a maturity of less than one year.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds are unrestricted funds that the Trustees have specifically designated the purpose for which they can be applied.

Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by donors or raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 16

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

1. Donations and legacies - Charity

The Lodge GP
Grant Funding/Trusts/ Foundations
Discover Your Future
Graylingwell Chapel
NLHF Stage 2
The Chichester Shed
Donations Friends and Patrons
Bike Project
The Studios		 Unrestricted
Funds
£
1,200
20,961
-
30,158
-
21,799
10,338
8,773
58,391
151,620		 Restricted
Funds
£
-
74,225
18,680
2,960
-
63,860
-
34,764
1,988,620
2,183,109		 2025
Total
Funds
£
1,200
95,186
18,680
33,118
-
85,659
10,338
43,537
2,047,011
2,334,729		 Unrestricted
Funds
£
3,600
54,415
-
29,710
-
-
4,399
-
-
92,124		 Restricted
Funds
£
-
65,807
-
-
39,027
400,886
-
21,140
-
526,860		 2024
Total
Funds
£
3,600
120,222
-
29,710
39,027
400,886
4,399
21,140
-
618,984

2. Income from charitable activities - Charity

Unrestricted
Funds
£
Annual Resident Charge GP
29,563
The Community Hall RP
19,080
Youth
-
Water tower
126
Keeper Green Lodge
26,555
The Pavilion HP
115,720
S106 Contribution from Graylingwell LLP
17,113
Havenstoke Pk
-
Annual Resident Charge Keepers Green
7,778
Other charges for use of facilities
17,352
Roussillon SLA
12,700
245,987		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 2025
Total
Funds
£
29,563
19,080
-
126
26,555
115,720
17,113
-
7,778
17,352
12,700
245,987		 Unrestricted
Funds
£
26,454
23,100
-
4,958
27,155
103,447
28,296
4,634
8,022
16,072
12,700
254,838		 Restricted
Funds
£
-
-
57,188
-
-
7,000
-
-
-
-
-
64,188		 2024
Total
Funds
£
26,454
23,100
57,188
4,958
27,155
110,447
28,296
4,634
8,022
16,072
12,700
319,026

3. Other trading activities

Rentals from trading subsidiary
Consultancy
Charity
Trading by Connecting Spaces Ltd
Charity income from subsidiary
Subsidiary income from charity
Group		 Unrestricted
Funds
£
11,600
35,304
46,904
181,263
(11,600)
(2,154)
214,413		 Restricted
Funds
£
-
-
-
-
-
-		 2025
Total
Funds
£
11,600
35,304
46,904
181,263
(11,600)
(2,154)
214,413		 Unrestricted
Funds
£
27,840
18,358
46,198
480,919
(27,840)
(5,702)
493,575		 Restricted
Funds
£
-
-
-
-
-
-		 2024
Total
Funds
£
27,840
18,358
46,198
480,919
(27,840)
(5,702)
493,575

Page 17

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

4. Investments

4. Investments
Interest receivable
5. Raising funds		 Unrestricted
Funds
£
30,350
30,350		 Restricted
Funds
£
-
-		 2025
Total
Funds
£
30,350
30,350		 Unrestricted
Funds
£
15,251
15,251		 Restricted
Funds
£
-
-		 2024
Total
Funds
£
15,251
15,251
5. Raising funds
Pavillion & Chapel expenses
Charity
Trading by Connecting Spaces Ltd
Charges by charity to subsidiary
Group		 Unrestricted
Funds
£
7,244
7,244
175,931
(11,600)
171,575		 Restricted
Funds
£
-
-
-
-
-		 2025
Total
Funds
£
7,244
7,244
175,931
(11,600)
171,575		 Unrestricted
Funds
£
-
-
546,219
(27,840)
518,379		 Restricted
Funds
£
-
-
-
-
-		 2024
Total
Funds
£
-
-
546,219
(27,840)
518,379

6. Expenditure on charitable activities

Wages and salaries
Depreciation
Office costs
Heritage Lottery bid development costs
Water Tower costs
General building costs
Staff and volunteer training
Youth
Marketing and publicity
Insurance
Legal and professional fees
Keeper's Green
Pavilion costs
Community Hall
The Chichester Shed
ESF DYF
Chapel Costs
Chichester Bike Project
Studios
Start-up costs and equipment
Support and governance costs
Charity
Charges from subsidiary
Group		 Unrestricted
Funds
£
238,025
81,825
7,556
-
20,264
67,283
4,464
1,802
5,582
9,561
18,440
20,225
70,705
596
38,883
4,342
34,092
11,187
7,613
544
12,924
655,913
(2,154)
653,759		 Restricted
Funds
£
9,728
-
107
7,818
156
6,832
301
134
-
-
11,297
80
516
-
99,643
8,443
5,558
32,557
100,886
-
-
284,056
-
284,056		 2025
Total
Funds
£
247,753
81,825
7,663
7,818
20,420
74,115
4,765
1,936
5,582
9,561
29,737
20,305
71,221
596
138,526
12,785
39,650
43,744
108,499
544
12,924
939,969
(2,154)
937,815		 Unrestricted
Funds
£
191,363
85,563
3,217
2,400
18,242
59,499
10,283
-
9,463
9,773
10,051
15,802
45,001
1,752
4,319
-
21,973
401
5,459
-
12,924
507,485
(5,702)
501,783		 Restricted
Funds
£
35,716
-
-
38,911
3,384
3,222
1,618
9,366
-
-
-
-
-
-
389,656
-
13,357
13,171
22,270
-
-
530,671
-
530,671		 2024
Total
Funds
£
227,079
85,563
3,217
41,311
21,626
62,721
11,901
9,366
9,463
9,773
10,051
15,802
45,001
1,752
393,975
-
35,330
13,572
27,729
-
12,924
1,038,156
(5,702)
1,032,454

Page 18

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

7. Support and governance costs

7. Support and governance costs
Auditor's remuneration Unrestricted
Funds
£
12,924
12,924		 Restricted
Funds
£
-
-		 2025
Total
Funds
£
12,924
12,924		 Unrestricted
Funds
£
12,924
12,924		 Restricted
Funds
£
-
-		 2024
Total
Funds
£
12,924
12,924

8. Auditor's remuneration

Audit fee
Non-audit services
The fees noted above are inclusive of VAT.
9. Wages and salary cost
Gross wages
Employer's national insurance costs (net of employers' allowance)
Employer's pension contributions
Staff numbers:
Average head count		 2025
2024
Total
Total
Funds
Funds
£
£
11,400
11,700
4,824
10,201
2025
2024
Total
Total
Funds
Funds
£
£
367,305
440,980
19,123
25,541
9,644
10,501
396,072
477,022
2025
2024
27
35
Group
Group		 2025
2024
Restricted
Total
Funds
Funds
£
£
8,100
8,400
4,824
4,524
2025
2024
Total
Total
Funds
Funds
£
£
294,177
230,109
15,144
14,193
8,184
6,650
317,505
250,952
2025
2024
10
11
Charity
Charity		 2025
2024
Restricted
Total
Funds
Funds
£
£
8,100
8,400
4,824
4,524
2025
2024
Total
Total
Funds
Funds
£
£
294,177
230,109
15,144
14,193
8,184
6,650
317,505
250,952
2025
2024
10
11
Charity
Charity
250,952
2024
11

There was one employee with emoluments (excluding employer pension costs) in the region £70,000 to £80,000 in the current year (2024: No employees received emoluments above £60,000).

During the year under review the charity's key management personnel, set out in the information page, received employee benefits amounting to £85,665 (2024: £58,128). Additionally £3,500 (2024: £2,000) was received in recognition of achieving performance objectives with reimbursed travel and other expenses totalling £729 (2024: £1,743).

Additionally, during the year the charity's subsidiary (Connecting Spaces Limited) paid a member of the charity's key management personnel £7,866 (2024: £21,400) for consultancy and project management services.

The child of a member of the charity's key management personnel was employed by the subsidiary and received employee benefits totalling £367 (2024: £1,241) during the year under review.

10. Pension scheme

The charity operates a defined contribution pension scheme for its employees. Contributions to the scheme on behalf of employees during the year amounted to £8,184 (2024: £6,650) with no amounts payable at the balance sheet date.

Page 19

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

11. Related party transactions

No remuneration was paid to Trustees during the year nor the comparative year. Additionally no amounts were reimbursed to or paid on behalf of trustees during the year under or the comparative year for expenses or costs relating to their role as trustees.

There were no other transactions with related parties that require disclosure in the financial statements.

12. Assets under construction

Assets under construction consist of capital costs in respect of The Studios development.

2025 2024
£ £
176,798 -

13. Fixed assets

GROUP
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value at 31 March 2025
Net book value at 31 March 2024
CHARITY
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value at 31 March 2025
Net book value at 31 March 2024		 Furniture,
fittings &
equipment
£
10,881
(10,881)
-
4,235
609
(4,844)
-
-
6,646		 Freehold
property
£
3,574,446
-
-
3,574,446
271,500
71,225
-
342,725
3,231,721
3,302,946
Freehold
property
£
3,574,446
-
-
3,574,446
271,500
71,225
-
342,725
3,231,721
3,302,946		 Leasehold
property
£
180,000
-
-
180,000
35,100
3,600
-
38,700
141,300
144,900
Leasehold
property
£
180,000
-
-
180,000
35,100
3,600
-
38,700
141,300
144,900		 Plant and
machinery
£
75,000
-
-
75,000
60,500
7,000
-
67,500
7,500
14,500
Plant and
machinery
£
75,000
-
-
75,000
60,500
7,000
-
67,500
7,500
14,500		 Total
£
3,840,327
-
(10,881)
3,829,446
371,335
82,434
(4,844)
448,925
3,380,521
3,468,992
Total
£
3,829,446
-
-
3,829,446
367,100
81,825
-
448,925
3,380,521
3,462,346

Page 20

CHICHESTER COMMUNITY DEVELOPMENT TRUST CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

14. Subsidiary - Connecting Spaces Ltd

The charity owns the entire issued share capital of Connecting Spaces Ltd (registered company number 12954680).

Shares held
No.
Shares in Connecting Spaces Ltd
1
Profit and loss account
Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit/(loss)
Interest payable and similar expenses
Taxation
Gift aid payment to Chichester Community Development
Net profit/(loss)
Capital and reserves
Profit and loss account brought forward
Net profit/(loss)
Profit and loss account carried forward
Share capital
Total capital and reserves		 Par value
£
1
Trust
2025		 Total
£
1		 Shares held
No.
1		 Par value
£
1
Year to
31 March
2025
Total
Funds
£
181,263
(67,563)
113,700
(107,997)
5,703
(371)
-
-
5,332
(90,902)
5,332
(85,570)
1
(85,569)
2024		 Total
£
1
Year to
31 March
2024
Total
Funds
£
480,919
(137,032)
343,887
(409,166)
(65,279)
(21)
-
-
(65,300)
(25,602)
(65,300)
(90,902)
1
(90,901)

During the year under review the charity charged management costs to Connecting Spaces Ltd totalling £nil (2024: £nil) and was provided catering services totalling £2,154 (2024: £5,702). In addition the charity charged Connecting Spaces Ltd rentals totalling £11,600 (2024: £27,840) for the year.

15. Fixed asset investments - Managed funds - Charity

Market value brought forward
Additions in year
Disposals at proceeds
Change in market value
Market value carried forward
Historic cost of investments
Fixed asset investments are held at fair value with valuations obtained using closing bid-market price.		 2025
£
571,984
-
-
(26,650)
545,334
515,966		 2024
£
523,866
-
-
48,118
571,984
515,966

Page 21

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

16. Debtors

16. Debtors
Trade debtors
Prepayments
Accrued income
Amounts receivable from trading subsidiary
Other debtors		 2025
2024
£
£
49,767
43,824
4,656
4,656
-
17,113
-
-
2,743
5,877
57,166
71,470
GROUP		 2025
2024
£
£
27,592
6,698
4,656
4,656
-
17,113
97,479
85,259
2,067
-
131,794
113,726
CHARITY
113,726

17. Current asset investments

Short term deposits
18. Creditors
Trade creditors
Accruals
Deferred income
Taxation and social security
Pensions payable
Other creditors
Analysis of deferred income
Grant Funding/Trusts/ Foundations		 2025
2024
£
£
1,500,000
-
1,500,000
-
2025
2024
£
£
40,749
84,916
25,497
15,365
22,108
73,142
4,523
7,820
3,789
2,305
129
4,560
96,795
188,108
Brought
Released
forward
in year
£
£
73,142
(73,142)
73,142
(73,142)
GROUP
GROUP		 2025
2024
£
£
1,500,000
-
1,500,000
-
2025
2024
£
£
38,953
45,164
16,472
11,340
22,108
73,142
(142)
(7,232)
3,789
2,305
129
521
81,309
125,240
Deferred
Carried
in year
forward
£
£
22,108
22,108
22,108
22,108
CHARITY
CHARITY		 2025
2024
£
£
1,500,000
-
1,500,000
-
2025
2024
£
£
38,953
45,164
16,472
11,340
22,108
73,142
(142)
(7,232)
3,789
2,305
129
521
81,309
125,240
Deferred
Carried
in year
forward
£
£
22,108
22,108
22,108
22,108
CHARITY
CHARITY
125,240
Carried
forward
£
22,108
22,108

Page 22

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

19. Analysis of net assets between funds

Fixed assets
Net current assets
Fixed assets
Net current assets		 Unrestricted
Funds
£
2,972,428
106,569
3,078,997
Unrestricted
Funds
£
2,972,429
192,138
3,164,567		 Restricted
Funds
£
1,130,225
1,500,000
2,630,225
Restricted
Funds
£
1,130,225
1,500,000
2,630,225		 2025
Total
Unrestricted
Funds
Funds
£
£
4,102,653
3,351,740
1,606,569
(21,193)
5,709,222
3,330,547
2025
Total
Unrestricted
Funds
Funds
£
£
4,102,654
3,345,095
1,692,138
76,354
5,794,792
3,421,449
CHARITY
GROUP		 Restricted
Funds
£
689,236
-
689,236
Restricted
Funds
£
689,236
-
689,236		 2024
Total
Funds
£
4,040,976
(21,193)
4,019,783
2024
Total
Funds
£
4,034,331
76,354
4,110,685

20. Analysis of net movement in funds

Restricted funds
Heritage Lottery grant
Havenstoke Park
The Chichester Shed
The Pavilion
Youth
Discover Your Future
Graylingwell Chapel
Keepers Green Lodge
Architectural Heritage Fund
The Bike Hut
Water Tower
Foot in the Door
Community Food Project
Studios
Community Development
Unrestricted funds
Designated funds
Fixed Assets
Fair value reserve
Total designated funds
General fund
Trading subsidiary
Total unrestricted funds
Total funds		 Total funds
brought
forward
£
12,978
574,637
7,554
7,000
53,124
-
-
-
-
7,969
8,926
14,581
2,467
-
-
689,236
3,462,346
67,508
3,529,854
(108,405)
(90,902)
3,330,547
4,019,783		 Total
incoming
resources
£
-
-
63,860
-
-
-
63,985
-
-
34,764
31,630
-
-
1,988,620
250
2,183,109
-
-
-
474,861
167,509
642,370
2,825,479		 Total
resources
Gains/(losses)
expended
on investments
£
£
-
-
(3,985)
-
(113,161)
-
(516)
-
-
-
-
-
(15,865)
-
(80)
-
-
-
(32,557)
-
(18,577)
-
-
-
-
-
(98,957)
-
(358)
-
(284,056)
-
(81,825)
-
-
-
(81,825)
-
(581,332)
(26,650)
(162,177)
-
(825,334)
(26,650)
(1,109,390)
(26,650)
GROUP		 Transfers
between
funds
£
-
-
41,748
-
-
-
-
80
-
-
-
-
-
-
108
41,936
-
-
-
(41,936)
(41,936)
-		 Total funds
carried
forward
£
12,978
570,652
1
6,484
53,124
-
48,120
-
-
10,176
21,979
14,581
2,467
1,889,663
-
2,630,225
3,380,521
67,508
3,448,029
(283,462)
(85,570)
3,078,997
5,709,222

Page 23

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

20. Analysis of net movement in funds (continued)

Restricted funds
Heritage Lottery grant
Havenstoke Park
The Chichester Shed
The Pavilion
Youth
Discover Your Future
Graylingwell Chapel
Keepers Green Lodge
Architectural Heritage Fund
The Bike Hut
Water Tower
Foot in the Door
Community Food Project
Studios
Community Development
Unrestricted funds
Designated funds
Fixed Assets
Fair value reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 Total funds
brought
forward
£
12,978
574,637
7,554
7,000
53,124
-
-
-
-
7,969
8,926
14,581
2,467
-
-
689,236
3,462,346
67,508
3,529,854
(108,405)
3,421,449
4,110,685		 Total
incoming
resources
£
-
-
63,860
-
-
-
63,985
-
-
34,764
31,630
-
-
1,988,620
250
2,183,109
-
-
-
474,861
474,861
2,657,970		 Total
resources
Gains/(losses)
expended
on investments
£
£
-
-
(3,985)
-
(113,161)
-
(516)
-
-
-
-
-
(15,865)
-
(80)
-
-
-
(32,557)
-
(18,577)
-
-
-
-
-
(98,957)
-
(358)
-
(284,056)
-
(81,825)
-
-
-
(81,825)
-
(581,332)
(26,650)
(663,157)
(26,650)
(947,213)
(26,650)
CHARITY		 Transfers
between
funds
£
-
-
41,748
-
-
-
-
80
-
-
-
-
-
-
108
41,936
-
-
-
(41,936)
(41,936)
-		 Total funds
carried
forward
£
12,978
570,652
1
6,484
53,124
-
48,120
-
-
10,176
21,979
14,581
2,467
1,889,663
-
2,630,225
3,380,521
67,508
3,448,029
(283,462)
3,164,567
5,794,792

21. Description of restricted and designated funds

Details of material funds are as follows: Fund Purpose Restricted funds Heritage Lottery grant Funds received to develop and return Graylingwell Chapel to life. Havenstoke Park Funds received for the ongoing upkeep and maintenance of the Havenstoke Park site. The Chichester Shed Funds received to develop an area for mental and physical wellbeing for young people. The Pavilion Funds received towards the costs of preparing and planning for the development of the Pavilion upon receipt. Youth Funds received for outreach and retention of youth programmes. Discover Your Future Funds received to support 20 women for a year to start up their own business. Graylingwell Chapel Funds received to support the redevelopment and regeneration of the Graylingwell Chapel. Studios Funds received to support the redevelopment and regeneration of Marchwell Studios. Designated funds Fixed Assets Fixed assets held by the charity and used to achieve their charitable objectives Fair value reserve Difference between market value and historic cost of investments.

Page 24

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

22. Financial instruments

The carrying amounts of the charity's financial instruments are as follows:

2025
Total
Funds
£
Financial assets
Measured at fair value through net income/(expenditure):
Fixed asset investments
545,334
545,334
Measured at amortised cost:
Trade debtors
27,592
27,592
Financial liabilities
Measured at amortised cost:
Trade creditors
38,953
38,953
The income, expense, net gains and net losses attributable to the charity's financial instruments are summarised as follows:
2025
Total
Funds
£
Income and expense
Financial assets measured at fair value through net income/(expenditure)
Investment income
30,350
30,350
Net gains and losses (including changes In fair value)
Financial assets measured at fair value through net income/(expenditure)
Net gains/(losses) on investments
(26,650)
(26,650)
Fixed asset investments are held at fair value with valuations obtained using closing bid-market price.		 2024
Total
Funds
£
571,984
571,984
6,698
6,698
45,164
45,164
2024
Total
Funds
£
15,251
15,251
48,118
48,118

Page 25

CHICHESTER COMMUNITY DEVELOPMENT TRUST

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

23. Comparative charity statement of financial activities and analysis of net movement in funds
Unrestricted
Funds
Note
£
Income and endowments from:
Donations and legacies
1
92,124
Charitable activities
2
254,838
Other trading activities
3
46,198
Investments
4
15,251
Total
408,411
Expenditure on:
Raising funds
5
-
Charitable activities
6
507,485
Total resources expended
507,485
Net gains/(losses) on investments
48,118
Net Income/(expenditure)
(50,956)
Gross transfers between funds
See below
(20,111)
Net movement in funds
(71,067)
RECONCILIATION OF FUNDS
Total funds brought forward
See below
3,492,516
Total funds carried forward
See below
3,421,449		 Restricted
Funds
£
526,860
64,188
-
-
591,048
-
530,671
530,671
-
60,377
20,111
80,488
608,748
689,236		 2024
Total
Funds
£
618,984
319,026
46,198
15,251
999,459
-
1,038,156
1,038,156
48,118
9,421
-
9,421
4,101,264
4,110,685

Page 26

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

CHICHESTER COMMUNITY DEVELOPMENT TRUST

GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

23. Comparative charity statement of financial activities and analysis of net movement in funds continued

Restricted funds
Heritage Lottery grant
Havenstoke Park
Chichester Shed
The Pavillion
Youth
Discover Your Future
Graylingwell Chapel
Keepers Green Lodge
Architectual Heritage Fund
The Bike Hut
Water Tower
Foot in the Door
Community Food Project
Studios
Community Development
Unrestricted funds
Designated funds
Fixed Assets
Graylingwell Chapel
Fair value reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 Total funds
brought
forward
£
12,862
575,638
-
-
20,248
-
-
-
-
-
-
-
-
-
-
608,748
3,547,909
19,390
-
3,567,299
(74,783)
3,492,516
4,101,264		 Total
incoming
resources
£
39,027
-
401,386
7,000
63,188
-
20,000
-
-
21,140
13,909
14,581
2,467
8,100
250
591,048
-
-
-
-
408,411
408,411
999,459		 Total
resources
expended

£
(38,910)
(1,001)
(393,832)
-
(30,312)
-
(25,809)
(90)
-
(13,171)
(4,984)
-
-
(22,270)
(292)
(530,671)
(84,615)
-
-
(84,615)
(422,870)
(507,485)
(1,038,156)		 Gains/(losses)
on investments
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
48,118
48,118
48,118		 Transfers
between
funds
£
-
-
-
-
-
-
5,809
90
-
-
-
-
-
14,170
42
20,111
-
48,118
-
48,118
(68,229)
(20,111)
-		 Total funds
carried
forward
£
12,979
574,637
7,554
7,000
53,124
-
-
-
-
7,969
8,925
14,581
2,467
-
-
689,236
3,463,294
67,508
-
3,530,802
(109,353)
3,421,449
4,110,685

Page 27