Amended COMPANY REGISTRATION NUMBER: 08048023 CHARITY REGISTRATION NUMBER 1147343 LFI.IIJ(_I. II'IJJ. 'IILI"sI" Audited Financial Statements 31 March 2025
THE CHALICE WELL TRUST Financial Statements Year Ended 31 March 2025 Page Trustees, annual report {incorporaling the director's reporti-_ Reference and administrative information 14 Independent auditor's report 16 Consolidated statement of financial activities -21 Charrty's statement of financial activities- 22 Balance sheet - 23 Statement of cash flows-_ 24 Notes to the financial statements - 25
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 These revised financial statements replace the original financial slalemenls for the year ended 31 March 2025 which were approved by the board on 15 May 2026. These revised financial slalemenls are now the statutory financial statements of the Trust for this period. In accordance with Companies House Act 2006, the financial statements have been revised as at the date of the original financial statements and not as at the dale of this revision. Accordingly, they do not deal with events beeen those dates. Introduction The Irustees, who are also the direclors for the purposes of company law, presenl Iheir report and Ihe audiled financial statements of Ihe Charity for the year ended 31 March 2025. Chair's report The Board of Trusleeg is pleased to present the annual report for the period from 1 April 2024 to 31 March 2025, detailing the Charity's activitie$, achievements, significant developments, and financial statements. The financial year 2024125 presented considerable challenges for The Chalice Well Trust, notably following an incident in June 2024 that resulted in substantial disruption within the organisation. In response, the Board and senior management set out to prioritise the enhancement of the working environment, organisational culture, and support systems. These strategic improvements have restored stability and will be further developed in the coming year. Despite the disruption, visitor numbers increased markedly, with us welcoming guests from across the globe while seeing a steady rise in domestic visitors. This is reflecled in our financial performance, which has been achieved without drawing on our resetves despite a signifi¢ant rise in ¢osls. The increased Costs ¢an be attribuled to an increase in employment costs, utilities and in the unexpected increase of legal fees as a result of Ihe disruption. The Trustees extend their sincere appreciation to the staff for their unwavering dedication to supporting the Charity, each other, and our volunteers. The continued commitment of our staff ensures the careful stewardship of Chalice Welwils waters, gardens, and buildings- preserving its unique atmosphere of tranquility for all visitors. We also express our deep gralrtude to our volunteers, whose generous contributions of time and energy are invaluable to our work. In June, we were honoured to host Companions Day, featuring presentations on subjects such as homeopathy, healing waters, and our founder Wellesley Tudor Pole. The event was a joyful occasion, warmly received by all attendees.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Once again, the Trustees offer their heartfelt thanks to the Companions of chall Well worldwide for their sustained support and crucial role in preserving this historic site and advancing the Trust's mission. As the reporting period concluded, global unrest and conflict persisted. In this context, Chalice Well continues to serve as a sanctuary, welcoming indwiduals of all beliefs to find peace and renewal-whether for an hour, a day, or longer-al minimal cost. Looking ahead to 2025 and 2026, notwithstanding ongoing uncertainties, we remain committed to upholding our financial resilience, addressing essential maintenance and renovations, and creating opportunities for visitors to experience authentic retreat, peace, and healing. Alison Scobie- on behalf of the Board Achievements and performance Organisational We welcomed four new Trustees lo the board in financial year 2024-2025, Marion Van Eupen {exlensive legal background}, Michael While (close ties with the Glastonbury communrty and environmental specialist}, Jacqueline Wright {communications specialist}, James {Jiml Lunney {background in social housing) Sadly, Steve Hawkins, our Executive Director retired at the end of May 2024. Prior to his departure he expressed confidence in handing over the responsibiif(y of his role to Joanna Dyer. In September 2024 Joanna was promoted from Lead Manager to Chief Executive. Since taking the helm she has been working closely with the Trustees, in particular the Chair, lo develop a less hierarchi¢al and collaborative work environment. Following on from a tumultuous summer the Chair of the Trust passed from Lindsay Smith lo Alison Scobie who then in close collaboration with Joanna, Chief Executive, has taken steps lo further improve the working environment. Joanna and Alison have continued to implement well defined decision making and operational processes. Weekly staff meetings are hosted by the Chief Executive and staff are encouraged lo share news and updates of their areas. With a focus on the collaLK)rative ethos the gatherings have become less fomial with staff sharing the candidly about wins and challenges in their respective areas and leams. This has resulled in greal solution finding and refinement of policies and process to further support and promote the ethos of the Chalice Well. The shop is an integral part of Chalice Well and makes a significant Contribution to the finances of the Trust as well as being a valuable point of contact with our visitors and pilgrims. 11 showcases and sells unique in-house prixjuced pri)ducts and other items and stock that truly capture the essence of Chalice Well and the objectives of the Trust. The stock is carefully curated to ensure it meets a wide range of price points while retaining a strong connection to
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 the Well. The books for sale offer diverse and in-depth information on many spiritual practices and beliefs. Chalice Well products A key aspect of our strategy is to make available products and merchandise that are unique lo Chalice Well. The Chalice Well essences are co-created with the spirit of Chalice Well. This range of products is proving extremely successful and expands year on year as new essences are made. Products from the land which are sold in the shop when possible included apples, apple juice, herbs and planls. The collecting and packaging of seeds from the planls of Chalice Well is ongoing and has been very successful. Our fully owned subsidiary, The Chalice Well Bookshop now offers notebooks, keyrings, eco-friendly carrier bags and many other small items carying the Chalice Well logo. Chalice Well Press Chalice Well Press continues to publish the edf(ions of the Trust's journal this year. These are much appreciated by our Companions. Our core books Chalice Well- The Story of a Living Sanctuary and Light upon the Path have continued to sell steadily throughout the year while our range of chall Well booklets is lo be extended from the current seven titles to nine next spring. An appreciation of Alice Buckton is being prepared by ex-Trustee Alistair Jones while previous Chair Paul Fletcher has been readying a new booklet on the foundations of British spirilualty based on our Albion website which Paul created in 2018 when the Trust received funds from the Wrekin Trust to publish an educational online site. Environmental and ethi¢al ststement The Trust sustained its policy to source goods as ethically as possible. Our ethos is lo be as harmless as possible in what we do, buy and sell. By reference, local and organic goods are sourced and whenever possible, stock is bought from fair-trade organisations, co-operatives, small producers and traditional famity businesses. Recycling is given priority across the organisation and guests are encouraged lo recycle Iheir waste and be eco aware. As an employer the Trust endeavours to ensure that no job applicant or employee receives less favourable treatment on the grounds of his or her race, nationality, ethnic origin, religion or philosophical belief, sex, marital status, sexual orientation, disability, age, part-lime status, or trade union aclivilies. Equally, that no applicant or employee is placed at any disadvantage on the above grounds that are not justifiable in law under the relevant legislation. Financial review The financial statements for 2025 reflect the ongoing organisational Structu as a chartty. The nature of our operational activities remains fundamentalty the same as in previous years.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Income from charitable activities decreased from £488,734 in 2024 to £472,798 this year. Charity income from donations and legacies reduced from £530,341 in 2024 to £146,084 in 2025. The large one-off legacy income received in 2024 is largely responsible for this level of difference. Total Trust expenditure has increased from £556,359 in 2024 to £861,624 in 2025. Overall there is a net shortage for the year of £181,914 compared with a surplus of £528,002 in 2024. A large portion of the increase of expendilure was the unexpected yet significant increase in National insurance. Tr8ding in the Chalice Well Bookshop showed a similar increase, with an increase in turnover from £582,110 in 2024 to £591,138 in 2025. In line with this, cost of goods sold also rose by from £279,617 in 2024 10 £283,529 in 2025. Due lo the increased turnover there was a small increase in the net operating profit. The trust recharges relevant salary and other costs directly lo the bookshop, so that the shop results are presented on a commercial going concern basis. The expenditure is also included within the charity SOFA bul offset by income, being the amounts recharged. The recharged amounts amounted to £22,505 in 2025 {2024'. £35,138). Transfers beleen the Shop and the Trust are designated as dividends and the sum transferred during the year was £141,226 12024.. £164,486). Retained funds now stand al £167,898, a slight increase on last year's figure. The trust maintains a healthy reserve figure of £959,899 lo carry forward12024.. £1,141,813), all as unrestricted funds and most of it as liquid assets. There were no significant changes in tangible assets during the year. Free reserves Itotal reserves less designated reserves and fixed assets) amount to £937,511 {2024.. £1,133,391). Investrnent Powers and Policy According to the Trust Deeds, the Trust has the power to invest in whatever way the Trustees and Manager determine is in the best interests of the Trust. However, the Trust operates an ethical investment policy in keeping with the Trusts overall ethos, which is lo actively support that which enhances our environment and human endeavours and avoid that which causes damage. The Trust had unrestricted cash reserves of £1,116,891 as at 31 March 202512024.. £940,361) of which £1,022,978 was invested in CCLA COIF Charities Deposit Fund12024.' £665,576). The level of income from both the trust and shop varies throughout the year. This is a pattem lo be expected. Income drops below oulgoings in the winter months. The usual practice is therefore lo transfer monies into reserves during the summer months and call them back during winter.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Reserves policy The Trust recognises within its reserves policy that reserves are needed for a variety of purposes and have reviewed the reserves policy during the year alongside the Charity Commission guidance on charitable reserves. The Iruslees have identified the following four key reserve elements.. A reserve to manage catastrophic risk- based on 4 months costs and the level of loss experienced during Covid pandemic. Target level £150,000. A reserve on account of unexpected maintenance costs - whilst maintenance costs are budgeted due to the nature of the charity's properties, unforeseen work is needed from time to time and can be expensive. Target level £100,000. A reserve on account of scheduled high-cosl mainlenance-Avariable reserve building up funds for unexpected large-scale maintenance, for example replacing windows, heating systems, outbuildings etc. Target level £300,000-£500,000 A reserve for future investment- to allow for situations where the Trusl wishes lo make investments to improve the charity's estate for the benefit of users. Target level.. £300,000 to £500,000. These four reserve elements total target reserves of between £850,000 and £1,250,000 and current reserves are within this desired range. Plans for future periods 11 is the Trustees, wish to protect the site of Chalice Well al all costs and at this present time with the unpredictability of world and UK events, all with the potential to affect the Charity economically, the future of Chalice Well as a place of quiet contemplation and momentary escape from the troubled world is paramount. The organisation is now working in a far more effective and efficient way after the changes made since 2020 and has just experienced an unexpectedty busy summer period. Vwhilsl we hope sincerely that this will continue, predictions for the future are fraught with difficulties and so we continue to maximise our effectiveness and also our ability lo adjust rapidly to circumstances beyond our control. We are using this time to maximise slruclural repairs lo ensure all of the property is in a state of good repair and lo plan for self-sufficiency in power and water. We approach the next few years with oplimism bul also with realistic caution, whilst also taking heart from offering a place of respite in a troubled world. Key risks and uncertainties The board of Trustees took an unpopular decision in the summer for 2024 which caused a public outcry. This caused higher than budgeted legal costs in the FY 2024125 and may have affecled income.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 The production of Essences had lo be suspended in February 2026 due to damage lo the building used for this purpose. Urgent action is being taken to replace the building and find a temporary solution to the production of Essences. A report carried out into the health of the trees in the garden highlighted a serious weakness in a large pine tree which sils at the back of the chall Well Retreat House. Additional, unexpected, costs will be occurred lo remove this. Going concem After making appropriale enquiries, the trustees had a reasonable expeclation that Ihe charity has adequate resources lo continue in operational existence for Ihe foreseeable fulure. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. Objectives and activities Policies, Objectives and Public Benefit The Chalice Well in Glastonbury is one of the Britain's most ancient and constantly used wells nestled in the vale between famous Glastonbury Tor and chall Hill.11 has long associations as a place of special atmosphere, healing and quiet sanctuary. The objects of the charity are for the public benefit.. 1. To preserve in perpetuity the property known as the Chalice Well in Glastonbury in the county of Somersel and surrounding lands for the benefit of the public, so that they may for ever have access to this living sanctuary as a place of pilgrimage and rest., 2. To preserve and safeguard the said Chalice Well and ils surroundings and to beautify Ihem., 3. To advance religious and spirilual activities and permit members of Ihe public of all religious and spiritual paths to take advantage of such facilities as the Chalice Well Trust can offer pilgrimage, quiet contemplation and healing., 4. To advance education in all ways by encouraging the study and enjoyment of the sacred through arts, particularly as may be associated with the said Chalice Well and its surroundings. The Trust pursues a range of activities to uphold these objectives and generate funds. We strive to deliver ServIS with maximum effectiveness and at a minimum cost at point of delivery. Income is normally raised though entrance fees, supporters, accommodation fees, meeting room hire, garden hire loulside of public opening hours) the shop and ils increasing online presence, unique products, publishing, events, legacies and donations.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Activities for Achieving Objectives The trustees are acutely aware of the duties conferred by the Trust founding deed. To this end the Well is managed wth care and allenlion to safeguard the profound and resloralive atmosphere found here. Together with staff we work lo ensure that visitors can experience the quiet healing of this sacred place, have silent contemplation, take the water, and find solace and inspiralion within the sanctuary that is Chalice Well. The Trust welcomes people from a wide range of spiritual Iraditions and all people of goodwill who are in tune with our core aims. Our ethos is holisti¢ and we strive lo manage land, servi$ and events with awareness and regard for Ihe environment, community and spiritual palhs of pilgrims and visitors. To preserve in perpetuity the property known as the Chalice Well in Glastonbury in the county of Somerset and surrounding lands for the benefit of the public, so that they may for ever have access to this living sanctuary as a place of pilgrimage and resL 'To presep4e and safeguard the said Chalice Well and its surroundings and to beautify them. The Trust has continued to preserve and conserve the heritage of all within its care Imuch of which is subject to Grade 1 & 2 lislingl. The Trust operated a schedule of planned maintenance which, was progressed in all areas., buildings, gardens and boundaries. Achievements were as follows.. The ancient spring and waterways, including an external outlet for out-of-hours availability, were subject lo regular cleaning, maintenance and monitoring of water quality. The long practiced organic approach to land use in the gardens, orchards, permanent pasture, and woodland belts, yielded good returns in terms of saleable crops, bio- diversity and beauty. The Orchards heatth and productivity are mainlained through traditional melhods including sheep grazing and supporting wild bees. A small vegetable plol conlinues to thrive and Ihe produce is distribuled amongst staff and volunteers and also the food cupboard in Glastonbury. Members of the public were able this year to access the Well, the garden, the shop and the retreat house for the majority of the year and the footfall increased dramatically in comparison with the previous year. Key Earth Festival days were continued both online and on site with full access for the public. Chalice Well Trust maintains a worldwide family of supporters known as 'Companions of Chali¢e Well., Their financial support help lo preserve Ihis sanctuary and uphold Ihe objectives of the Trust. Companions can benefit from free entry., the annual Companions Day,. the 'The Chalice, journal,. access to the Retreat Houses., early notices on events plus regular communication through social media platforms. All of these benefits were fulty available during this year and we are as always both
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 heartened and grateful for the continuing support that we receive from our Companions, old and new. To advance religious and spiritual activities and permit members of the public of all religious and spiritual paths to take advantage of such facilities as the Chalice Well Trust can offer pilgrimage. quiet contemplation and healing. The sanctuary of Chalice Well is maintained for quiet, contemplation and healing for both individuals and groups. The increased demand for collective spiritual endeavour and celebration that draws people from all over the world to Chalice Well for communal sharing is managed by the Trust through a series of yearly events. This year the eight Earth Festivals have been celebrated online and in person and our annual Companions Day was celebrated on Ph June. The Trust uses a variety of media to communicate with the general public and Companions and advance its activities. These platforms continue to engender a large amount of interest and have become increasingly invaluable as a method of communication and interaction and online sales from our shop. Chalice Well Essences continues to provide four accredited Practitioner Training and Continuing Professional Development ICPDI sessions per year. Chalice Well essences are accredited by the British Flower & Vibrational Essences Association and draw international students. Non-residential facilities used for meetings, courses and seminars in keeping with the trust's objectives were increasingly well utilised over this period. The provision of private access (by application) to the Well and garden for out-of-hours use was once more available throughout this period. The Retreat House, Little St Michael's, was available for group and individual bookings. It is used by people involved in a wide range of spiritual disciplines and healing systems throughout the year. Chalice Well Lodge remains on a shorthold tenancy. Through Chalice Well Press and the new, more effective website the Trust continued to make available wrf(ings and papers of religiouslspiritual interest to the public including our Companion's Journal, "The Chalice. which was mainly distributed virtually to minimise cost. Some Companions have now reverted back to a "paper copy" To advance education in all ways by encouraging the study and enjoyment of the sacred through the arts, particularly as may be a$$o¢iated with the said Chali¢e Well and its surroundings. Opportunities to enjoy reflection and togelherness are made available to the public through evenls pul on by the Trust and these have been well allended over this year. The Earth Festivals were held at full capacity Ihroughout this period., Companions Day was held on the 7th June.,
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Apple Day offered members of the general public an opportunities to witness the pressing of the apples and lasting the results and wrth slorylelling and music for the children. Public Benefit The Charity trustees exercise due regard and consider the public benefit as issued by the Charrty Commission when exercising their powers or duties and ensure that all projects and activities are in line with the Charity's objectives. Structure, governance and management The Chief Executive along with the Finance Assistant produces an annual budget which is shared with Trustees prior to the relevant financial year. The budget is prepared from the bottom upwards, building upon years of experience in relation lo, for example, the seasonal monthly changes in cash flow associated with fluctuating visitor numbers. Budgets are also updated for the pay award to staff, changes in taxation {e.g National Insurance) anticipated inflation in other costs {for example energy) as well proposed changes to prices, and anticipated changes in the volume of business. The Chief Executive and Trustees analyse money variances from the budget to see if rt is on track, and if any in year adjustments lo operations are necessary. The annual variances are an important input into each subsequent budget. The nature of the business means that cash flows are also closety related to profit, and the cash position is also confirmed via bank balances. Constitution The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26 April 2012 and is a registered charity number 1147343. Method of Appointment or Election of Trustees The Board of Trustees is collectively responsible for Ihe general control and management of the administration of the Chalice Well Trust. This includes.. Ensuring that the organisation complies wrth its governing document, organisation law and any other relevant legislation or regulations. Making sure the purposes of the Trust are implemented. Giving strategic direction to the organisation., setting overall policy,. evaluation performance against agreed targets. Ensuring proper financial management & compliance. Supporting the management in the day-to-day operation of the Trust. Being collectively responsible for the actions of the organisation and other Iruslees. Being informed about the current activities of the organisation and wider issues which affect its work.
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 The management of the charity and the group is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum ofAssociation. New Trustees are appointed by the serving Trustees and amongst other criteria, recruitment is guided by a skills review. In addition, the Trustees for the lime being of the Charty shall be the only Member5 of the Charrty. Every person who is appointed as a Trustee shall become a Member. On becoming a Trustee they shall sign a written consent to act as a Trustee and a Member. Policies Adopted for the Induction and Training of Trustees There is a thorough selection and induction process that informs prospective trustees of the work purposes and policies of the Trust and the FX)wers, responsibilities and public duties of Trusteeship. The Charity Commission ICC) and other leading umbrella organisations within the Charity sector are used to provide literature and on-going support and skills development. The management and chair give further support to new board members together with documented infomation on operational and strategic issues as required. The Board also makes full use of its advisors who are noted in this document. New Trustees are expected to be proactive in familiarising themselves with relevant legislation, CC guidelines and the governing documents of the Trust. Organisational Structure and Decision Making The Chairs are elected by board members lo hold office for a period of three years. Al the end of this term the Trustees, can vote for new chair or retain existing appointees. Other Trustees also serve three year terms and may be re-elected by fellow Trustees. Day to day managemenl of the Trust and its activities are delegated by the Board to the Chief Executive, who is appointed by the Board of Trustees. The powers and limits lo this authority are defined in the Chief Executive's job description, and any amendments made to that by the Trustees. The Board has in place a strategic plan and policy documents are in place lo support the work and operational activities. The Chief Executive's reports to and is accountable lo the Board and the Board meets with management al least six limes a year to receive reports, discuss policies, finances and longer-term planning and other statutory requirements. Other meetings between the management and the board are convened to progress specific developments or matters as necessary. Members ofthe Board also provide advi, assistance and srt on sub-groups for activities that match their own areas of expertise. Management The operations of the Trust and Bookshop were managed by'.- The Executive Director 10
THE CHALICE WELL TRUST Trustees'Annual Report Year Ended 31 March 2025 Organisational Structure Oteanisation Chart M¥r¢h 25 Joanna Ltyer ThECkalKeWelTIu5t Team5Marth 25 Staff report lo and are accountable to the Chief Executive who provides direction and guidance through regular supervision and personal development reviews. Three main areas of activity., bookings, horticulture and retail, have supervisors who have team responsibilrties. Several members of staff also have areas of special responsibility e.g. the co-ordination and support of volunteers, the cfrordinalion and planning of events, the Essence courses, and Private Access. There are regular opportunities for discussion and leaming for all through.. Weekly Staff meetings Trustee meetings Cross-organisational task and finish groups Information sharing forums Volunteer meetings and social gatherings
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Investment in our people includes.. An annual personal development review encourages staff to identify and gain new The health and wellbeing of staff is highly important, and management and board members make it known that they are available should staff need particular support. The Trust operates an on-going curriculum of First Aid training. Health and safety training is delivered on an on-going basis. Fire safety training is implemented. Expert mentors assist garden and orchard staff. Appropriate staff train for and gain basic food hygiene certificates. Related Party Relationships The Chalice Well Trust has a Whol owned subsidiary,. Chalice Well Bookshop Limited, which undertakes trading activities and passes it's profits to the Trust by means of contributions lo overhead expenses and GiftAid. The Trust occupies the land and building al the Chalice Well under a lease agreement between The Chalice Well Trust, a company limited by guarantee 'The Trust, and The Incorporaled Trustees of the Chalice Well Trust, the legacy Charity. Key risks The Trustees ensure that major risks the Trust may be exposed to, have been identified and reviewed and that there are systems lo alleviate these as far as possible. Operational and financial risks and compliance with statutory requirements are reviewed in terms of their impact on delivery of Trust objectives. Health and safety compliance is ensured through a robust programme. Fire-fighting equipment is serviced annually. Training in Fire Safety and First Aid is delivered and updated on a cyclical basis. Financial performance is frequently reviewed against budget. Book-keeping was outsourced at the beginning of the fiscal year beginning 181 April 2024 and moved lo an in-house model towards the end of the fiscal year. Financial matters are regularly reviewed by the Trustees with the addition of external, professional assistance as is thought to be necessary. The Fire Officer confirmed our fire alami system and fire safety risk assessment to be satisfactory. ilst under no legal requirement, the Trust continues to regularly test the spring water for quality. The Trust is registered with Mendip District Council as a business offering food to the public. 12
THE CHALICE WELL TRUST Trustees, Annual Report Year Ended 31 March 2025 Statement of Trustees. responsibilities The trustees (who are also directors of The Chalice Well Trust for the purwses of company law} are responsible for preparing the Trustees, Report (incorporating the strategic report and directors, report) and Ihe financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards, including Financial Re-porting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepled 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 the group and of the income and expenditure, of the charitable group for that period. In preparing these financial slalemenls, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP- make judgments and accounting eslimales that are reasonable and prudent., state whether applicable UKAccounling Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company and group will continue in business. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial posrtion of the charitable company and enable them to ensure that the financial stalements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit infomiation of which Ihe chari(8ble Company's auditors are unaware., and the trustees have taken all steps that they ought to make themselves aware of that information. Approved by the board and signed on its behalf by.. Date.. 19 May 2026 Alison Scobie Chair 13
THE CHALICE WELL TRUST Reference and Administrative Information Year Ended 31 March 2025 Registered charity name The Chalice Well Trust Charity registration number 1147343 Company registration number 08048023 Principal office and registered office 85-89 Chilkwell Street Glastonbury BA6 8DD Somerset Trustees Sophia Knock {Resigned 10 November 2025) Philip Roberts (Resigned 22 June 20241 John Capper (Resigned 22 June 20241Re•Appointed 19 February 2025) Lindsay Smrth (Resigned 25 July 20241 Alison Scobie (Appointed 11 September 20201 Lynne Sedgemore {Appointed 27 January 20241Resigned 8 July 20241 Tom Bree (Appointed 27 January 20241Resigned 4 February 20261 Marion van Eupen (Appointed 11 November 20241 Michael Vlhite (Appointed 11 November 20241Resigned 31 October 20251 Jacqueline Wright IAppointed11 November 20241 Jim Lunney (Appointed 1 April 2025} Company sgcrgtary Sleve Hawkins (Resigned 31 May 2024) Joanna Dyer (Appointed g September 20241 Key management personnel Executive Director Lead Manager Chief Executive steve Hawkins {Resigned 1 June 20241 Joanna Dyer lappoinled 8 January 20241 Joanna Dyer (promoted 9 September 2024 14
THE CHALICE WELL TRUST Reference and Administrative Information Year Ended 31 March 2025 Independent Auditors Burton Sweet Limrted The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR 15
THE CHALICE WELL TRUST Independent Auditor's Report Year Ended 31 March 2025 Independent auditor's report to the members of The Chalice Well Trust Qualified opinion We have audited the financial slalements of The Chalice Well Trust Ithe'charily and the group") for Ihe year ended 31 Mar¢h 2025 which comprise the group and charity Slalemenl of Financial Activities, the group and charity Balance Sheet, the consolidated Cash Flow Statement and notes to the fin8nci81 statements, including a summary of 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 Generalty Accepted Accounting Praclicel. In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements.. give a true and fair view of the slate of the group and Charity's affairs as at 31 March 2025 and of its income and expenditure for Ihe year then ended., have been properly prepared in accordance wrth United Kingdom General Accepted Accounting Practice., have been prepared in accordance wrth the requirements of the Companies Act 2006. Basis for qualified opinion We were not appointed as auditor of the group until after 31 March 2025 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 March 2025 and 2024 which are included in the balance sheet at £69,20012024.' £69,200} by using other audit procedures. We were also unable to obtain sufficient appropriate audit evidence valuation and cut-off of inventories by atternative audit procedures. Inventories affect the delerminalion of cost of goods sold and, consequent, the income and expenditure for the year. Consequently, we were unable to determine whether any adjuslmenls were necessary to inventories staled in Ihe balance sheet and to expenditure reported in the Statement of Financial A¢tivilies. In addition, were any adjuslmenl lo Ihe inventory balance to be required, the strategic report would also need to be amended. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law, except for the matter described in the Basis for Qualified Opinion paragraph. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are 16
THE CHALICE WELL TRUST Independent Auditor's Report Year Ended 31 March 2025 independent of the group and Charity in accordance with the ethical requirements that are relevant lo 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. Except for the maller described above, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. Emphasis of matter We draw attention to page 1, which explain that the financial statements have been revised from those previously filed at Companies House and Charity Commission. Our opinion is not modified in respect of this matter. Conclusions relating to going concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on Ihe work we have performed, we have nol identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and charity'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 directors with respect to going concern are described in the relevant sections of this report. Other infomiation The Iruslees are responsible for the other informalion. The other informalion comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstalemenl in the financial statements or a material misslalemenl of the other information. 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 the fact. 17
THE CHALICE WELL TRUST Independent Auditor's Report Year Ended 31 March 2025 As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities of £69,200 on 31 March 202512024.. £69,200>. We have concluded that where the other information refers lo the inventory balance or related balances such as cost of sales, it may be materially misstated for the same reason. Opinion$ on other matters pres¢ribed by the Companies Act 2006 Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements., and the directors, report has been prepared in accordance with applicable law requirements. Matters on vthich are required to report by exception Except for the matter described in the basis for qualified opinion section of our report, in the light of our knowledge and understanding of the group and charitable company and ils environment obtained in the course of the audrt, we have not identified material misstatements in the directors, report. Arising solely from the limitation on the scope of our work relating to inventory, referred to above". we have not obtained all the information and explanations that we considered necessary for the purpose of our audit," and we were unable to determine whelher adequate accounting rerdS have been kepl. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 re-quires us to report to you if, in our opinion.. retums adequate for our audit have not been received from branches not visited by us., the financial statements are not in agreement with the accounting records and returns., certain disclosures of trustees, remuneration specified by law are not made., or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. 18
THE CHALICE WELL TRUST Independent Auditor's Report Year Ended 31 March 2025 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees 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 they determine is necessary to enable Ihe preparation of financial statements Ihal are free from material misslalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group and Charity'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 Iruslees either intend to liquidate the group or Charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objedives are to obtain reasonable assurance aboul whelher the financial statements as a whole are free from material misstatement, whelher due to fraud or error, and lo 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 reasonab be expected to influence the economic decisions of users taken on the basis of these financial statements. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance wrth laws and regulations, was as follows.. we identified the laws and regulations applicable to the group and charity through discussions with those charged with governance and other management, and from our knowledge and experience of Ihe sedor., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, laxalion legislation and data protection, anli-bribery, employment, pensions, environmenlal and health and safety legislation,. and we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, inspecling legal correspondence and remaining alert during the audit for any indications of non-compliance. Our audit procedures in relation to fraud included but were not limited to.. making enquiries of those charged with governance and other management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., 19
THE CHALICE WELL TRUST Independent Auditor's Report Year Ended 31 March 2025 discussing amongst the engagement team the risks of fraud., gaining an understanding of the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations., testing journal entries to identify unusual transactions., assessing whether judgements and assumptions made in determining the accounting estimates set out in the aecounling policies were indicative of potential bias,. and investigating the rationale behind signifi¢anl or unusual transactions. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due lo fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on Ihe Financial Reporting Council's website at www.frc.or .uklauditorslaudil-assurance- elhicslaudilors-res onsibililies-for-lhe-audil . This description forms part of our auditor's report. Use of our report This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audf( work has been undertaken so that we might state to the Charity's members those matters we are required lo slate in 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 Ihan Ihe Charity's members as a body, for our audil work, for this report, or for the opinions we have formed. Joshua Kingston FCA (Senior Stalulory Auditor) For and on behalf of Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1 UR Date.. 19 May 2026 20
THE CHALICE WELL TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES IINCLUDING INCOME & EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2025 Total Funds Totsi FJr¥Js 202S 2024 Note In¢ome fvom". Donabons and legaues Charitable activities Other Ipding activities Investments- Bank Interest 4,858 472,798 591,138 40,761 365.855 488.734 582.110 30.170 Total Incomg 1,109,555 1,466.869 Expenditure on.. Raising funds Charitable activities 488,479 799,829 441.939 520.281 Total expenditure 1,288,308 962.220 Not Incom8 and net movement In funds 1178,7531 504.649 Total funds at startof year 21 1,306,550 801,901 Total funds at end of year 21 1,127,797 1,306.550 The Group hats no reugnised g81n8 or losses otherth¥n the re8uM8 forthe yearas sei out8bove. l of the actiwlies of the Group are dassed as ntinuIng. JI actiwlies In the current gnd ryior year are unrestricted Tho not08 on pages 25 to 36 fomi oftheso fln8n¢lal ststom8nts.
THE CHALICE WELL TRUST THE CHARITY'S STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2025 Total Funds Totsi FJr¥Js 202S 2024 Note In¢ome from.. D¥tIOnS and legacies Charitable activities Other trading activrties Inve$iments- Bank Interest 146,084 472,798 22,505 38,323 530.341 488.734 35.138 30.148 Totsi Incom• 679,710 1,084.361 Expenditure on.. Raising fiJDd¥ Ch8ril¥ble activities 61,795 799,829 36.078 520.281 Totsl oxpondlturo 861,624 556.359 Net in¢omellexpènditur•l and net movement in funds 528.002 Total funds at startof year 21 613,811 Total funds at end of year 21 959,899 The Charity has no recognised gains orlosses otherthan the results for the year as setOLrt above. l of the actiwlies of the charity are dassed as tinUIng. l acbvities in Ihe current and prior yeargre unrestricted. Tho not08 on paggs 25 to 36 fomi oftheso flnanclal ststom8nts.
THE CHALICE WELL TRUST BALANCE SHEETS AS AT 31 MARCH 2025 Company number.. 08048023 Group 2025 Charty 202$ Group 2024 Charity 2024 Fixed assets IntangitAe assets Tangible assets Investents 1,500 21,062 1.500 20.888 12 13 8,S44 8,420 22,562 22.388 8,644 8,422 Currgnta$set8 Stock Oeblors 8sh 81 bank and In hand 14 1S 69,200 64,750 1,177.185 69,200 293,471 1,094,585 63,085 1,116.891 332.(60 940,361 1,179.976 1,457,256 1,272.421 Llabllftl88 Cr&itors amounts falling due within one year 18 1233.7061 1148.4391 Not currgnt assots 1,113,994 946.270 1,308,817 1,144.302 Total assets le88 ¢urrent liabilities 1,136,556 968,658 1,317,461 1,152.724 C[lt0S amounts falling du8 after morethan one year 17 18,7591 18,7591 Net assets 1,127,797 959.899 1,306,550 FUNDS Unrestricted funds General ndS Design8ied funds 1,105,235 22,562 937.S11 22.388 1,297,906 8,S44 1,133.391 8,422 Total fund8 1,127,797 959.899 1,306,550 Ttustees re5ponsibililies The Iru$iees acknoedge their responsibililiesforcomrdwng wth the NuiremlS of Ihe Act with respectto 8xouniirKJ reurds 8nd e pryr¥lion ol finanual Stslernents. The accounts have been prepaEd In acctrdance with the provisions 8Wic8ble 10 the small companies, regime and in a¢cora8nce wlh FRS102 SORP. Th68t finamal $tat8m6ni$ wtre approv8d bythtr TNstses on 19 May 2026 and art Signèd on tirb¥ha1f by." Ajison Scobie Ch8ir The note5 on page5 25 to 36 forn part ofthese financial staternents. 23
THE CHALICE WELL TRUST CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 2025 2024 Net cash infl¢Jwfrorn operating activities 19 63.672 223.945 Non-oporaiional cdsh flows.. Investing actNitie$ Payments for ngile fixed assets Payments for Intangible assets Investment income 120,3331 16.0381 40.761 30,170 18.928 24.132 Net cash infl¢Jwforthe year 82.600 248.077 C8sMow R8$tr1¢n$ Chanty law prohibits the use of nel cash inflows on any erKJowed or other resthcted fund lo offset nel cash ouffiows on any fiJnd OLrtsida ils own obj*¢ts. 8ycept on 8pecial authority. In practlctr, this resth¢bon ha¥ not had any effect cash flows forth6 year. Tho not08 on pages 25 to 36 fomi oftheso fln8n¢lal ststom8nts. 24
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accounting polKies A¢covnting Convontion The financial statsm8nls have b88n prepar in accordan with the histori1 cost convention lexcept V4here otheN4ise sta18d in the accounbng polity note) and In ttordsn¢e with the Statement af Recommended Pr¥cii¢e. Accounting and RepDrting by Charrtitrs preparing their ¥¢countts In accordance with the Fin¥ncial Reporting St8ndard applic8ble in the UK 8nd Republic of Ireland IFRS 1021 Issued in oCber 2019, and the Finawal Reporting Standard 8ppli¢able in the United Kingdom and RepuNic of Ipland IFRS 1021, and the Companies Act 2006. The charity Is a public ben8fi1 entsty as defined under FRS102. The TTustees considprlhal there are no rnatsrial unrtaInbe8 affecting the ability of the charity to CDntinue as a going Con. Basis of eonsolidation The Consdid¥ied St8lement of Finantyal Activities ISOFAI. Consolidated Balawe Sheet and Consolid¥ied Cash Flow Statement Consolidate the financial st81ements ol the Charity and ils subsidiary, Chalice Wdl B(rt)kshop Limited. The results ol the subsidiary are consolidated on a line by line basis. In¢orn Incomefrom donations is included in incomewhen the58 are [w1Vable, expta5 fdlows. l. Vlfften donors swfy that (k)nations given lo the charity rnusl be used in luture accounting periods. the IncAJme Is defe until those rIods, 11. When donors Impose conditi$ vthich h¥ve 10 be fulfilled before the charity becomes eniiled to use such Income, the Income 18 defwred until the pre<ondiDons have been mel Leyaies 8re included on ¥ receivable basi$ where th8riiy Is eNilled 10 the Income. It ¢8n be Me8$U reliably and receipt 1$ probable. Where legacies have been notified lo the ch8rity, or the charity Is aware ol the gr8nling of probate. and the ¢rileria Income rgnitIOn have not been met then theIacY Is not Iuded in Income bul Is Irealed as a contingent assetand disclosed if matenal. Incomefrom cxjnlracts forlhe sUpY of goods and servi5 is reGognised with th8 delivery of the contracted andlor service. This 1$ dassrfied a¥ unrestri¢ted ftJnd¥ unless there i¥ a Contractual re4uirementfor Il 10 be s1 on 8 particular putPOSè 8nd rtriumed If unwi. In which Case Il may te regarded as restricted. Invesimenl income is included a rewvable basis. Don¥ied go(ts and services are re¢coni$ea atf81f value where this can be measud reliably and tkt benefit to the charity 1$ probable. No 8mouni¥ ar6 ranIg&d Wr6 fair valutr cannot bè maasurad r8li8bly. Charity oc¢upi6s land and buildiws undsr a mptrrrtsn16ast. As tha propèrty in¢lLth$ Ihtr Chali¢8 Wall, a tsrttr of uniqu6 wrilual and community significance, there 18 no reliable b88lSto determine market value. Accordingly. no v¥lue Is re¢coni$ed fty this arpngemenl as a donslion in kind. Expgndlturg Exper¥Jiiure 18 recognised In the period In whi( il is 1Thrred. Expelture Includes 8ttnbLrt8ty1eVAT which cannot be recovered. Raising funds R¥i*ng fundts eKpendilJE Indudes those costs incurred In seeking volvn18ry coniribuiions, costs of gocls 801d and other¢osts which Irdudethe costs of running and p8tycipating In fJndr8ising events and colle¢lions and ¢o$l of goods purchasa for re$81e. 25
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accounting polKies (Gontinuedl Charrtable Activities Experbditure on charrtable activthes cLpse5 those Ixists inCUTred by the Charity in the ddivery of ils actiwlies and servi. It irdudes both ¢o¥i¥ that can be allctaied dire¢iiy 10 this activity and those ¢osts of 8n Indirect nature ne¢essaryto $upkw)rtthem. Support Costs 8nd Olher costs thai canwi be direcdy 8ttfityuied to acbvilies are allocated 8 basis consisient wth the use of Ihe resource. Govem&n¢e ¢osts Govemance costs indude those costs aslated with meeting the constitutional and slalulory requirements ol the charity and inclLhle the audit IS and costs IinW lo the strategic management of the chanty. Governance costs are induded ¥%rylhin support costs. Allocaiion aJJdappOrttonmte0Sts Certain exEnditure is directly attributatAe to specific activibes and this has LEen inclL¥Jed in those rnst categories Other costs, which are attnbu1ab to mor8 than one catsgory. are apportioned across cost CagleS the basis of an assessment of wotkload ¢arried out from time to time. Ov&thtr8d supp ¢o$i$ have been alloc8ied btrtwaen fiJndraisiw and publi¢rtY ¢OSts, fundraising tradiny and ¢haniabla activi118S. The 8pwfbonmeni has been ¥llocaled on the b8$ of Income received for the 8CIIVity and Is analysed In note 7. Pension costs and other post•retirernent benefits The Charity ConbiPtes defined ¢onlribuiion pension schemes. Qontribulions payable lo the charity's Pen s¢her(Es are charged tothe Stalementol Financial Activities In the n0d lo which they relate. Tanglblo flx8d assets Fix&1 assets are held al hisloncA cost sS accumulated depreciabon Assets costing less than £1.000 are not pItalISed Depreciabon is calculated so as lo wnle off the of an asseL less ils eslimaled ulliTnale residual value. over the useful life of Ihal asset ask11.. CompLrter equipment - 33% siraiyhl lire Fumilure and equipment 20Yo straight line Garden equitfflent - 20% straight line Fixed asset investments Investments In subsidiaries and a5souales are Included at cost less Impaitmenl al 31 March. The SOFA IudeS the net gains and losses aring on revaluations and disposalsduring the year. Stock SIDGks are valued atthe lowerof cost and net realisable value, after making due allowance for Obs0 and movirbg itsTns. Cost 1$ deiemiined using the Avérage ¢ost method IAVCOI. Net realisable valu8 Is b8s&d sdling pn¢tr less aniitypattd costs to ¢ompleiion and selling costs. Debtors Trade and Olher debtors are rewnised ot the settlement amount due after any trade discount offered. Prepayments ore valued al the amount prepaid aftertaking acix)unl of any disix)unts due. cash and ¢a8h t4uivalents Cash at bank and cash in hand indude5 cash and short term highly liquid investments with a short maturity of th[ ttK)nths or less from th6 date of ¢qUilion or optrning of thè dtp)$il or mIractoUt. Crèdltors CEditor¥ and provisions 8re re¢ognised where the charity has a yeseni Obligati resuibng from a p8St eventth8twll probably ttsull In Ihe transfer of funds lo a Ihird p8rty and the smnI due lo settle the obligation Can be me¥sJred or estimated rdi¥Ny. Creditys and provisions are normaly reco9nised al their setllementamountafterallowing for any discounts due. Fund a¢¢ounting Free funds are unrestricted funds whith are available for use al the discretion of the Ttustees in furtheran of the general objectives of the Charity and vthich have not been designated for olherpurp¥)ses. 26
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 1 Accounting polKies (Gontinuedl Fund 8¢¢OUlltinu l¢trnlinuedl Designated fJnd$ umprise Jnre$iricied funds that h8ve been sei 8de by the TrJslee$ tr p8rtscular purrose The aim and use of each designated fund is setout In the notes lo the financial S*lements. Futher eW¥n81ion of the n¥lure and wrpose of e¥ch fund Is included In nolestothe finaw81 statements. 2 Incorne from.. DLatiOnS and legacies Group & Charlty Total Funds 2025 Tota Funds 2D24 Donations Donation from Chalice W811 Bookshop Limited Leyaies 3,973 141.226 885 6.052 164.486 359.803 Total eharty 146,084 530.M1 Inler-group activity 1141.2261 1164.4861 To¢al Group 4,858 365.855 3 Incorne from.. Charitable actwitie5 Groyp & Ch8rlty Tot81 Funds 202S To1 Funds 2024 Admissions, guide books and other e$ Retreats. accommodation and meetings Events and training Companionship fees 220,483 148,221 15,408 88,686 214.641 142.498 38.924 92.671 472,798 488.734 4 Incorn8 from.. Othortradlng actlvltlgs Totsl Funds 2025 Total Funds 2024 Managem1 Charge- Chalicewdl Bcthshcp Mited 22.505 35.138 Total Charty 22,505 35.138 ChalicÈ Wdl Bix>kshop Limited. Shop sdes Inler-group actswty 591.138 122,SOSI 582.110 135.1381 Total Oroup 591,138 582.110 27
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 5 Expenditure on.. Raising fund8 Support Cost5 (Note 71 Currentyear Totsl Fund5 2025 Direct ¢08ts Fundraising cA>sts Other wsts 10,362 51,433 10.362 51.433 Total Charity 61,795 61.795 Chalice Wdl Bookshop Limited Less inler*roup activity 449.189 122,5051 449.189 122.5051 Total Group 426.684 61,795 488.479 Prior year Support Costs (Note 71 Totsi Funds 2024 Direct costs Fundraising costs other wsts 6,263 29,815 6,263 29.815 Total Charity 36,078 36.078 chall Wdl Bookshop Limited Less inler-group athvity 440.9 440.999 135.1381 Total Group 406.861 36,078 441.939 6 Exp8ndlurg on.. Charltablg 8¢llvllles Group & Charity Support Costs (Note 71 Dlre¢t Costs Totsi Fund8 2025 Admissions, guide books and other e5 Retreats. accommodation and meetings Events snd IraiDing companionship fees 10,004 1B,876 24.322 6.792 340,702 192,645 61,942 144,546 350.7 86.264 151.338 S9,994 739,835 799.829 Prlor yoar Support Costs (Note 71 Direct Costs Total Funds 2024 Admissions, guide books and other eS Reire8ts. ac¢ommodaiion and meetings Events 8nd training Companionship fees 14,685 19,803 28.784 6.542 205,693 220.378 139.917 66.181 93.805 37,397 87,263 69.814 450 487 520.281 28
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 7 Support costs Support rnsts are allocated beiween raising ndS and Charitae3cti1ieS on the basis con5iStenl wlh use of resources. Support Costs. iud In notss 5 & 6, artr a¥fdlthws" CurrentyÈar eharitable activities Retreat5 a¢¢ommodaiion Evènts and and rnèètlngs tralnlng Companlon$hlps Garden and Wèll Adrn15$1on RaT8ing Fund$ Totsi 202S SlafFcosis Premises Communicthons and IT General office Human reSoUrS Financ8 costs Govem8n¢e co$is Repairs Insurance Health and Safety Motorand travel 192,167 8,807 98,995 21 668 2634 8,126 34,939 81.525 3.737 2.170 s.e92 817 2.340 8,576 35.470 1.790 336 1.093 29,287 1,423 2,820 2,348 58 167 8,815 13,940 2,096 23 818 436.913 37.236 13.667 35.809 4.144 11.864 51.694 191.271 11.045 1.70$ 6.282 929 2,869 350 1,002 3,675 15,196 768 145 468 15,774 1,927 5.515 20,21S 83,597 4,218 792 2,576 2840 10,413 43 068 2173 409 340,702 192,645 61,942 144.546 801 630 Prior year eharitable activities Retreats accommodarion Events and and rneetings training eompanlonshlps Garden and Well Adrnisslon Raising Funds Total 2024 stafFcosls Premises Communications and IT General office Human resour5 Finance co818 Govem8nce costs Repairs Insuran Health and safety Motorond travel 149,837 7,277 3,500 11,483 2,109 6,255 11,222 9,583 77,189 179D1 1.803 5,916 1 086 3.222 5,780 27,243 1,323 636 2,088 383 S3.567 3.087 1.485 4.872 894 2.654 4.780 4.066 981 202 695 22,836 340.672 30.763 9,354 26.Ih9 4.536 13.458 28.695 21.926 6,050 1.026 3.996 1,930 64 190 4,893 1,598 1,148 14 520 2,040 1,742 420 87 298 1.190 246 477 1,639 205 693 120114 Govemarbce costs Group Charity 2025 2025 2024 AccounlaDcy fees Independeniex¥mInab fees Auditors remunertho Legal Fees TrJ$lee$' meetings S liability Insurance 4,239 12.396 1.795 11.900 1.2S4 3.530 4,239 10.216 1.795 11.9DO 1,254 3,530 26,500 24,450 1,886 1,886 53,744 30.875 51,694 28.695 29
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Net incornellexppnditurel fortheyear This is stated aftertharging. Group Charity 2025 2025 2024 IndYret éxsminarfs fees -ftr independertexaminatio - lor acu)unts preparatson and other services -for audit services - for ScnIS prep8ration - prior year underaccrual 1,795 7.530 1.795 5.350 Auditors remuneration 1S.450 4,550 6,500 11.900 1.800 15,450 2,500 6,500 7,746 11.900 1,800 Depreciatson 3.712 9 siaff ¢osts and numbo Thè sggregate payrdl (YJSts wwe. Group Charity 2025 2024 202$ 2024 Wagtrs & tsalaries Social security costs Pension contributsons Radundancy ¢o¥i¥ 508,420 33,350 7,975 393.265 22.123 7.203 2,798 38S,777 24,922 5,962 15.677 5.791 2.798 549 745 425 389 416 661 322 377 The 8vetsgeweekly numberof emoYeeS Iirduaing seniu managementneadetship ieaml durirKJ Ihe year w88 Group Charlty 2025 2024 2025 2024 Staff 30 24 25 20 No emoyee received emdumenis of more than £60.(M)O during eilherihe ¢uffent, pre¢ediny year. Trustees had amModation. subsistence and off-site meeting gxpense5 reimbursed dunng Ihe yeartolalling £83312024" £5781. During the year. the total employee benefits of key management personnel were £73,27512024. £44,926} 10 Taxation The charity is exempl from corporation tax on ils charitable aclivilie5. 30
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 11 Intsngiblefixed assets Group & ¢harlty Trddemark Total Cost orvaluafjon Additions 1,500 1,SOO Al 31 March 2025 1 500 1 500 Net book value Al 31 March 2025 12 Tangible fixed assets Group Computer Equipment Furniture and Equipmont Garden E4uipmont Toral Cost Orvaluation Al 1 April 2024 Additions Disposals 27,781 4,958 17,8791 54.091 11,603 14,995 2,4271 93.475 20.333 13,8701 Al 31 Marth 2025 24,860 50.601 99.632 Dopre¢laiion Al 1 April 2024 Charge ts the year Elim1red on ditspo$al 26,186 2,541 47.743 1,939 13,79 10,902 3,314 12,4271 84.831 7,794 114,0551 Al 31 Marth 2025 20,896 45.885 11,789 78.570 Net txjok value Al 31 March 2025 3,964 4.716 12,382 21.fy52 Al 31 Marth 2024 1,595 6.348 701 Charity Computor Furnr• and Equipment Equipment Garden Equipment Total Cost orValUaon Al 1 April 2024 Additions Disposals 16,374 4,958 18.574 11,603 14,995 12,4271 46.551 20.333 111.1441 Al 31 March 2025 14,231 17.338 24,171 55.740 Depreciation Al 1 April 2024 Charge for the year Eliminated on disposal 14,779 2,541 17.0531 12.450 10,902 3,314 2,4271 38.131 7.746 Al 31 Marth 2025 10,267 12.798 11,789 34.854 Not book valug Al 31 March 2025 3,964 4.540 12,382 20.886 Al 31 March 2024 1 595 701
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 13 Investments Shares In grP under&kiws and porbcipating Intere515 Subsldlary Undertakings Total Cost orvaluation Al 1 April 2024 and at 31 March 2025 Details of undertakings. Country of Incorporatlon Proportion of voting right8 and shares held Company name Holding Principal activity 202S 2024 Chalice W41 Bod(shop Limitsd Ewland and Wale5 Ordinary 100 100% Retail Sa of bwks and gifts ai the Chali¢e Well and online Year Ended 31 March 2024 Year Ended 31 March 2025 ¢hali¢• Well Bookshop Limitod Tumover Cost of sales 591,138 1283,5291 682.110 1279,6171 Gross profit 307,609 302.493 Dislnbulion costs Adminislralive expenses 185.6531 175.7291 152.8281 Oporatlng proflt 141,949 Interest payable and similar¢harges 2,438 22 Profft before taxation 144,387 Tax ¢hargeftK the year Profit forthe period 144,387 Retained earnings brought loNMrd Lèss dallOn to pawl Chanty 164.737 1141,2261 188.090 1164.4861 Retained earnings carr forward 167,898 164.737 14 $10¢ Group Charity 2025 2024 2025 2024 Bookshop stock 69,200 69.200 32
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 15 Debtors Group Chorlty 2025 2024 2025 2024 Due in less than one year.. Trade debttys Due from group undertakings Prepayments and *crued in¢om8 other debr$ 3,038 1.134 776 36.620 292.337 2,327 61,212 500 292,337 61,212 1,089 64,750 293.471 63,085 332.0 16 Creditors.. arnountsfalling due within one year Group Charity 2025 2025 2024 Trad8 creditors Taxation and social Security Other creditors Due from group undertakings Acuu81s 8nd deferred Income 76,963 12,444 7,251 31,081 18.773 4.134 60,328 8,732 7,251 21.604 10.455 4.134 100,483 94.451 100,281 91,926 148.439 233,706 17 Crodiiof8'. ornoun¢8falllng due gft8r more than ono year Group Charity 202S 2024 202S 2024 ACuS and deferred irrAxne 8,759 8,759 18 Deferred income Deferred Income represents arnounts received in advance for goods or services to be delivered in future rekK)rbng periods. In awrdan wlh the Charitses SORP, income Is deferred where thecharity has not yel earn& the income or has not mel the performsnca ¢ondilioTr$ attached 10 it. During the year, incomewas deferred in respectof Future events and rwm hire, where the relatsd aGtivity wll take in the fvture penods". and - COmp8ni$hip membership income, where the subsoiplion period extends beyond the yearend. Group Charity 2025 2025 2024 75,633 254.253 1257.782 78.724 257,984 1261,0751 75,633 254.253 1257.7821 78.724 257,984 1261,0751 Resourced deferred during the period Amounts released duringh the peri(Ml Al 31 March 33
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 19 Reconciliation of net rnovement in funds to net Gash inflow from opprating activities Group 2025 2024 statement of Financial Activities". Nei movement in funds Loss on disposal of fixed assets Investment Income DepreGiaiion Irue8sel Idecreasel in oper81ional creailor$' cJrwl118tyililies Increase In operabonal creditors rK)rFcurrent liabilities Ilncrea58lldecrease in op8ralional debkns Irue88e In stock 504.649 130.17DI 3,805 15.327 7,794 48.702 228.721 1278.4691 Net cash loufflowifinflow from opprating activities 63,672 223.945 20 Analy81s of ¢hang88 in u8h durlng tho year Group 2025 2024 Change Cash al b8nk 8nd in hand 1.177.185 1,094,585 82.600 2024 2023 Change Cash al bank and in hand 1.DM.585 846,508 248.077 21 Movement in funds Forthe yearended 31 March 2025 At1Apr 2Q24 At31 Mar 2025 In¢omo Expondltur8 Transfvrs Unrestrfcted fund8 Fix&1 asset nd General funds 8420 1,133,393 17.7461 1853.8781 21,712 22.386 937,513 679,710 679,710 1861.6241 959.899 Total fund5 charity 679,710 1861.6241 959.899 chalice Wdl Bookshop Limitsd Inler-enlitytransathons 164,739 593,576 1449.1891 22.505 167,900 141,226 164.737 429,845 1426.6841 167.898 Total funds Gwup 1,306,550 1,109,555 11,288,308) 1,127.797 FIX assetfiJnd- This fijnd represents the net book value ol fixed assets.
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 21 Movement in funds Icontinuedl Forthe yearended 31 March 2024 At 1 April 2023 At 31 March 2024 Incomo Expenditur8 Transfvr8 Unrestricted funds Fixed asset fund General ndS 6,094 607,717 6,038 16.0381 8,420 1.133.393 1,084,361 1552.6471 613.811 1,084,361 1556,3591 Total funds Chaiity 813.811 1,084,361 1556,3591 chall Wdl BA<shOP Limited Inier-eniity tr8nsadions 188,092 582,132 1199,8241 1440.9991 35.138 1164.4861 164,486 164.739 Total fund5 Company 188.090 382,508 1405.8611 164.737 Total fund5 Group 801.901 1,466,869 I2 22Ql 1,306.550 22 Analy8rd of a880ts betwtrèn fund8 Charity Unrestricted Designated General Funds Funds As at31 March 2025 Total Intangible assets Tawible fimed assets Investments CuTrenl assets Curwl li¥knlilies Non-currenl liabilthes 1.50D 20.886 1.SDD 20.888 1,179,976 1233,7061 18,7591 1,179.976 1233,70S1 18.7591 Total charity 22.388 937,511 959.899 A8 at 31 M8r¢h 2024 Unrestricted Do$lgn8t8d Gonoral Funds Funds Totsl Tawible fimed assets Investments CuTrenl 8ssel8 Curwl liaknlilies NotFcurrenl liabilthes 8.420 8.420 1,272,421 1,272.421 Total eharity 8.422 35
THE CHALICE WELL TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 22 Analysr& of net assets between fund8 Icontinuedl Group As at31 March 202S Unrestricted Oesignated General Furtds Funds Total Intangible sst¥ T¥wible fixed ¥s8ets CuTrenl assets Current li¥knlilie8 Non-currenl liabilthes 1.500 21.062 1.500 21.Ch52 18,7591 18.7591 Total group 22.562 1,105,235 1,127.797 As at31 March 2024 Unre5triGted Deslgnthd General Fund5 Funds Total Tawiblè fixed asstts CUent assets CuTrenl Iiaknlilies Non-cJrreni li8biles 8.644 1,457,256 1148.4391 1,457.256 1148.4391 Total group 1,297,906 1,306.550 23 Rglatod parUos During the year, the charity wlered Into the folbwiNJ rdatsa party Ipnsadions." Trustee payments forservices Sophie Knock ITru8teel wovided profes$ion81 training services direcuy to the Trusttolalling £1,20012024' £8001. Tom Br ITrusteel provided professiorbal event rdaled S8TViC8S direcdytothe TStt01al1lg £Nil 12024. £6251. Chalice Well Bookshop Limited Payments made lo Trustees and Key Management Personnel ofThe chall Well Ttustfor goods and SeMS prowdeA lo the subsidiary atan arms-lengih basis". Sophie Knock ITrustee of The Chalice Well TTUStand Directorof chall Wdl BkShoP Lirnitsdl- Essences £1.69912024 È3.0421 Linne Sedgemoor (Trustee ol The Chalice Wdl Trust 8nd Oirector of Chalice Well bookshop Limiiedl- Books £37812024 £641 Tom Bree {TrUst of The chall Well Trustl- Books £Nil12024. £1.3771 Steve Hawkins (Key management personnell- WTrTrurning pru15 141212024" £6361 M8rion Van Eupen (Trustee of The Chalice Well Trusi and Director of Ch811tr Vlell Bookshop Limiiedl- Bcths £15012024 £NIll These payments are petmitted underlhe governing diKutnent (Arbcles of AsswIati(I forthe charity. The Charity hastaken advantage of the exemption under FRS102 section 33 notto disclose transathonswlh group entities, 10096 of whose voting lights are véholly controlled by The Chalice Well TrusL Except forthe above, there are no related party transactions in addition to those disdosed throughoutthefinanrAal statements. 24 Contlngoni Ilablllty There is uncertainty regarding the VATtreatmenl of companionship income. If HMRC wereto determine Ihatlhis income is standar rat8d, thtr Chanty could be liab16 fty underpaid VAT in pnor pwiods. Tha rthniial trxposure i¥ é¥tsmatsd ai the ytr8r a¥ approximakiy £45k. As the likelihood of an oumow 1$ Considered postsible bui not prob8tle, no provi* has been ¢cognised.