THE CHIPSTEAD CHAPEL CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS THE CHAPEL OF THE GOOD SHEPHERD AND CHEVENING CHURCH HALL
FOR THE YEAR ENDED 31ST DECEMBER 2023
Rector: The Reverend Hannah Adams Address: The Church Office Chevening Church Hall Homedean Road Chipstead, Sevenoaks Kent, TN13 2RU
THE CHIPSTEAD CHAPEL CHARITY
The Chapel of the Good Shepherd and Chevening Parish Hall
ANNUAL REPORT FOR 2023
Administrative information
The Chipstead Chapel Charity (the Charity) manages a property in Homedean Road which contains the Chapel of the Good Shepherd, Chevening Church Hall and residential accommodation known as Homedean and let out as a private residence.
The Charity is managed from the Chevening Church Office, Homedean Road, Chipstead, Sevenoaks, Kent, TN13 2RU.
The Charity is registered with the Charity Commission and its registration number is 1147141.
STRUCTURE AND GOVERNANCE
The Charity is administered by a single corporate trustee, The Chevening Parochial Council (the PCC). Information about the PCC, its members and its activities can be found on the Charity Commission website at www.charity-commission.gov.uk. The PCC charity registration number is 1134784.
The PCC is subject to the Charities Act 2011 as amended.
OBJECTIVES AND ACTIVITIES
The Charity maintains, repairs, improves and furnishes the Chapel of the Good Shepherd and the Church Hall and lets the Hall to approved tenants for church and community activities.
The Charity also manages the accommodation known as Homedean and lets this to approved residential tenants.
MANAGEMENT
The Charity is managed by the Rector and Churchwardens on behalf of the Parochial Church Council as the Corporate Trustee. They are supported by a Hall Management Committee with regular meetings three times a year and additional meetings as required.
PERFORMANCE
The residential property known as 'Homedean' was let for the whole year and the income generated was £25,000 before agent's management fees of £3,773.
The tenancy continues throughout 2023 and 2024.
Non contractual lettings of the church hall amounted to £6,930 and a management fee of £5,000 was paid to the Chevening PCC to cover shared staffing and sundry office and administrative costs.
FINANCIAL REVIEW
Total incoming resources were £31,930 compared with £35,866 in 2022 with expenditure of £28,046 compared with £21,037 in 2022 resulting in a surplus of £3,884 compared with £14,828 in 2022. This surplus, when added to the unrestricted funds brought forward of £29,122 gives us a balance to be carried forward of £33,006.
Further details of the income and expenditure can be found in the financial statements attached.
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THE CHIPSTEAD CHAPEL CHARITY
Statement of Financial Activities for the year ended 31st December 2023
| Incoming resources Residential lettings Hall lettings Total income Expenditure Residential letting costs Residential letting maintenance Management charge Hall operating costs Hall maintenance Total expenditure Net income (-expenditure) Net movement in funds Funds brought forward Funds carried forward |
Unrestricted Restricted Total Total funds funds 31.12.23 31.12.22 |
|---|---|
| 25,000 25,000 26,841 6,930 6,930 9,025 |
|
| 31,930 0 31,930 35,866 |
|
| 3,773 3,773 3,472 548 548 1,792 5,000 5,000 0 13,151 13,151 7,843 5,574 5,574 7,930 |
|
| 28,046 0 28,046 21,037 |
|
| 3,884 3,884 14,829 |
|
| 3,884 0 3,884 14,829 29,122 1,128,405 1,157,527 1,142,698 |
|
| £33,006 £1,128,405 £1,161,411 £1,157,527 |
The Charity has no employees
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THE CHIPSTEAD CHAPEL CHARITY
Balance Sheet as at 31st December 2023
| Accumulated funds Unrestricted funds Restricted funds Total charity funds Represented by Fixed assets Tangible fixed assets Current assets Balances at bank Accounts receivable less: sundry creditors Total charity assets |
Notes | 31.12.23 33,006 1,128,405 £1,161,411 1,128,405 1,128,405 38,687 1,797 -7,478 33,006 £1,161,411 |
31.12.22 |
|---|---|---|---|
| 29,122 1,128,405 |
|||
| £1,157,527 | |||
| 1,128,405 | |||
| 1,128,405 | |||
| 30,009 -887 |
|||
| 29,122 | |||
| £1,157,527 |
Approved by the Chevening Parochial Church Council (as Trustee) and signed on its behalf by
Rev Hannah E Adams Date
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THE CHIPSTEAD CHAPEL CHARITY
NOTES TO THE FINANCIAL STATEMENTS
1 ACCOUNTING POLICIES
The Financial Statements have been prepared in accordance with the Charities Act 2011, the Financial Reporting Standard for Smaller Entities (effective January 2005) and the Charities SORP.
The Financial Statements have been prepared under the historical cost convention except for investment assets which are shown at market value. The Financial Statements include all transactions, assets and liabilities for which the Charity is responsible in law.
FUNDS
Unrestricted funds are those that can be used by the Charity for any qualifying general purpose.
Restricted funds are those that can only be used for the specific purpose for which they have been given. Any balance remaining unspent at the end of each year must be carried forward.
INCOMING RESOURCES
Donations are recognised when received. Grants and legacies are accounted for when the Charity becomes legally entitled to them. Dividends are accounted for when they become due and interest is accrued. All other income is accounted for when it becomes due and is accounted for gross.
RESOURCES EXPENDED
Expenditure is generally recognised when it is incurred and is accounted for gross.
FIXED ASSETS
Tangible fixed assets are capitalised on acquisition, included on the balance sheet and subsequently revalued as appropriate. No tangible assets were acquired during the year.
Depreciation on tangible fixed assets is not provided in these accounts as any charge is considered to be immaterial on the basis that the asset has either a very long useful life or a residual value, based on its current value, which is not materially different from its book value. In addition, as a charity falling within the scope of the Financial Reporting Standard for Smaller Entities, the Charity is not required to carry out an annual impairment review of its tangible fixed assets and does not do so.
2 TANGIBLE FIXED ASSETS
The Rochester Diocesan Board of Finance is the Custodian Trustee of the property and the book value of £1,128,405 is based on a valuation carried out in October 2016 by the Ecclesiastical Insurance Co for insurance purposes. The restricted fund is equal to the book value of the property.
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3 FUNDS
| 3 FUNDS |
|
|---|---|
| Analysis of net assets by fund Tangible fixed assets Current assets less liabilities 4 CURRENT ASSETS/LIABILITIES Balance at NatWest Bank plc Lettings and other receivables less Creditors for goods and services |
Unrestricted Restricted Total Total funds funds 31.12.23 31.12.22 |
| 1,128,405 1,128,405 1,128,405 33,006 33,006 29,122 |
|
| 33,006 1,128,405 1,161,411 1,157,527 |
|
| 38,687 38,687 30,009 1,797 1,797 -7,478 -7,478 -887 |
|
| 33,006 33,006 29,122 |
5 CONNECTED CHARITY
As Chevening PCC is the sole corporate trustee of the Charity, it is a connected charity but, as they are managed entirely independently and have different objectives, no disclosure of individual transactions is required.
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THE CHIPSTEAD CHAPEL CHARITY
Year ended 31st December 2022
Independent Examiner's Report to the Parochial Church Council of St Botolph's Church in the parish of Chevening, Kent - The Chipstead Chapel Charity Trustee
I report on the accounts for the year ended 31st December 2023 which are set out on pages 2 to 5 inclusive.
Respective responsibilities of the Trustees and the Independent Examiner
The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is sufficient.
It is my responsibility, as Independent Examiner, to:
-
examine the accounts under Section 145 of the 2011 Act
-
follow the procedures laid down in the General Directions given by the Charity Commissioners in Section 145(b) of the 2011 Act
-
state whether any particular matters have come to my attention
Basis of Independent Examiner's Statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. Such examination includes a review of the accounting records kept by by the charity and a comparison of the accounts presented with those records. It also includes a consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below:-
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act or
-
to prepare financial statements which accord with those accounting records
have not been met or
- 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Joshua Peake
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Signed Mr Joshua Peake, ACCA
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Date 16th May 2024
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