Company Registration Number: 08085970
Charity Registratlon Number: 1148413
Chalke Valley History Trust
(A company limited by guarantee)
Annual Report and Consolldated Financial Statements
Year Ended 30 November 2023

Chalke Valley History Trust
Trustees. Report
The Trustees Iwho are also directors of the charity for the purposes ofthe Companies Acll present their
annual report lincluding the strategic report for the purposes of Companies Act 20061 together with the
flnancial statements of Chalke Valley History Trust Ilhe company and the group) for the year ended 30
November 2023.
OBJECTIVES AND ACTIVITIES _ MISSION AND PUBLIC BENEFIT
Aims
The objects of the Trust are the promotion and advancement of the education of the public by the
study of hislory18nd allied subjects) and by the enhancement of the teaching of history in order to
foster an appreciation and greater understanding of the subject.
The Trust intends to cary out these objects by:
funding the Chalke Valley History Fesliv81',
funding the Chalke Valley History FestlV81 for Schools.,
funding visits to the festival, schools, festival and to other hlstory-related siles and events by
schools unable to afford such visits otherwise,.
funding the tuition and living expenses of PhD level research students studying history and
related subjects,. and
making grants lo applicants who apply for funding of projects which futfil the objects of the trust.
Public Bgngllt
The Iruslees confimi that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard lo the public benefit guidance published by the Charity Commission for
England and Wales.
ACHIEVEMENTS AND PERFORMANCE
STRATEGIC REPORT
The following section on Financial Review and Future Developments constitutes the Strategic Report
for the purposes of Companies Act 2006.
1. PERFORMANCE FOR THE YEAR
a} Fund-ralslng
During the financial year to 30 November 2023 the Trust received donations of £328,212 up 7Vo on
the 2022 financial year. These donations have k)een provided by charitable foundations and
individuals to support the activities of the Chalke Valley History Festival and the Chalke Valley History
Festival for Schools as well as the other objects of the Trust.
Notable donations to support the festivals included..
A donation of £115.000 from the Calleva Foundation. of which £75,000 was paid in advance to
support the 2024 festival-
A donation of £55,000 from the Sanderson Foundation. of which £35,000 was paid in advance
to support the 2024 festival.,
A donation of £30,000 from the Blavatnik Family Foundation.,
A donation of £13,550 from Mark Franklin., and

Chalke Valley History Trust
Trustees, Report
bl Grants
In 2023 the Trust was only able to make limited grants from its surplus unrestricted funds in response
to third party applications. These grants totalled £10,162 and were made in addition to the larger
grants to Chalke Valley History Festivals Limi(ed of £245,950 and lo CV Schools History Festival
Limited of £30,000. All the grants were made in accordance with the Trust's grant making policy and
the r￿￿[rements of donors lo the TrusL Grants made outside the Trust group comprised..
Grants lo18lling £8,000 to 15 PhD students to fund tuition and research costs.,
A grant of £700 to Farnborough Spencer Academy to part-fund a battlefield lour.,
A grant of £1,000 lo Ingleby Manor Free School lo part-fund a battlefield lour,. and
A grant of £233 to the British Diplomatic Oral History Programme to fund the travel expenses
of their recorders.
c) Festlvals
The 2023 Daily Mail Chalke Valley History Festival was held in the last week of Jun8. Th8 festival had
a varied programme of events including talks by Jeremy Bowen. Sir John Major, Susie Edge. Don
Mccullin, Diana Darke, Lucy Ward, Natasha Lance-Rogoff. Nandini Das and Ben Maclntyre. The
IDiing history programme w85 expanded and included medieval jousting and a WWII display by
serving Gurkha soldiers. The structure of lickeling for the event Was changed lo introduce higher
priced day entrance tickets which gave full a￿esS to all living history displays and significant numbers
of talks on the outdoor stages and lower pricod talk tickets for the two tented vonues. The festival
achieved a good level of sponsorship incorne despite the economic challenges. Tick81 sales were
higher than in 2022 bul inflation in operating costs and a major IT system upgrade resulted in
increased costs so only a small surplus was generated.
In 2023 the Daily Mail Chalke Valley History Festival for Schools h8d a strong performance with pupil
numbers up compared lo the 2022 festival and ticket revenue increasing by 18Q/o. In addition a SEN
day was Iritroduced on the Wednesday of the festival with around 80 special education needs pupils
attending In 8 formal that suited their reqLiirements. Feedback from pupils across the three days and
in particular from the SEN attendees was positive. CV Schools History Festival Limited received
lower sponsorship income which offsel the higher tickets sales bul tight control of costs resulted in a
small loss for the year.
It was announced on 22nd June 2023 that the 10 year partnership with the Associated Newspapers,
publisher of the Daily Mail. was coming lo an end 81 the conclusion of the 2023 festiv81.
2. FINANCIAL REVIEW
The intontion of the trustees is that the principal source of funding for the Trust will be direct donations
and third party funding as well as from surpluses generated by the festivals. From the early years of
the festival, the directors of the festival and the trustees deliberately built up reserves. Although these
reseNes were partially utilised lo fund operating costs in 2020 during the pandemic when the festivals
were not held, and also the 2021 and 2022 festivals. overall Ihe18vel of reserves In the Trust remains
adequate. The trustees intend to rebuild the reserves of the Tnjst in future years to enhance the
financial resilience of the organisation.
On a consolidated basis, the Trust group had total incoming resources of £1,327,53S, comprising of
income from donations of £320,836, income from charitable activities li.e. the operation of the
festivals) of £1,005,885 and investment income of £814. The Trust group's consolidated resources
expended lotslled £1,307,458 comprising.. raising funds expenditure of £1.276.939 and charitable
activities expenditure of £30,519.

Chalke Valley History Trust
Trustees, Report
The Trust generated a surplus of £20.077 in tho year lo give consolidated nel fvnds of £410.600 10
carry forward. Restricted funds carried forward were £6.970 and unreslriclod funds carried forward
were £403,630.
Chalke Valley History Festivals Limited generated revenue of £1,262.619 (including donations) and
generated a profil after tax of £567. CV Schools History Festival Limited generated revenue of
£77,219 (including donationsl and generated a loss after tax of £11261. The Trust had donation &
legacy income of £328.212, investment income of £814 and. after making grants of £289.936 and
incurring governance costs of £500. il recorded an increase in nel funds of £27,131. At the period
end, the Trust had cash of £381,086 and total net assets of £365.509. As in prior years. a significant
proportion of the Trust's cash and funds carried forward al the financial year end in November
comprised early donations for the 2024 festivals.
3. PRINCIPAL RISKS AND UNCERTAINTIES
Rlsk management
The Trustees are satisfied that a process exists lo assess the major risks lo which the Charity is
exposed, in particular those related to the operation of the Festivals. The Trustees have delegated
responsibility for day to day management to the Boards of Chalke Valley History Festivals Limited and
CV Schools History Festival Limited. The trustees undertook a detailed review of risk management
policies and procedures at its November 2018 board meeting and have introduced a formal risk
management process lo assess risks and implement risk management strategies. This has involved
identifying the types of risks the Charity faces, priorilising them in terms of potential impact and
likelihood of occurrence and identifying means of miligaling the risks. The risk management procedures
adopted will be reviewed in detail again during the 2024 financial year by the Trustees.
Reserves
The reserves of the Trust comprise a £50,000 long-lerm reserve held to support ils trading subsidiaries
and. in addition the trust holds a level of free reserves in unrestricted funds of £2,000. This free reserve
has been adopted In line with Charity Commission guidance in order to ensure that there are sufficient
funds available lo facilllate an orderly winding up of the Charity should tt become necessary. In addition
lo these longer-lerm reserves, the Trust had free cash resetves of £203,146 as at 30 November 2023.
Furthermore, Chalke Valley History Festivals Limited had cash of £8.046 and CV Schools History
Festival Limited had cash of £609 al the year end.
4. PLANS FOR FuniRE PERIODS
The Trust intends lo continue to solicit funding and donations for ils activities.11 plans lo support both
the Chalke Valley History Festival and Chalke Valley Schools History Festival for the long term and
also to continue lo make other grants lo applicants who seek funding for projects which meet the
Trust's granl-making policy.
Structure, governance and management
Organisational structure
The Chalke Valley History Trust was incorporated on 28 May 2012 as a compally limited by
guarantee and is constituted under articles of association dated 28 May 2012. The establishment of
the Trust arose from the desire of the founders of the Chalke Valley History Festival lo establish a
charitable entity that would promote the understanding and enjoyment of history to people of all ages.
The Trust was awarded charitable status by the Charity Commission on 2 August 2012. The Trust

Chalke Valley History Trust
Trustees, Report
owns all the share capital of two trading companies.. Chalke Valley History FestThials Limited, which
operates the Chalke Valley History Feslival, and CV Schools History Festival Limited. which operates
the Chalke Valley History Festival for Schools.
Al the inception of the Trust, four trustees were appointed who had an interest in history, a local
connection to the Chalke Valley in South Willshire and skills relevant and useful lo the Trust. Further
trustees were appointed in the period 2016 - 2018 who bring complementsry skills lo the original
trustees. Tim Sanderson and Trevor Dolby were appointed as Iruslees on 2 October 2023. Tony
Pastor, Warren Tucker and Shalina Patel were appointed as trustees on 17 November 2023. Tom
Holland resigned as a trustee on 30 November 2023.
The Injstees are the members of the company and also serve as directors. As a company limited by
guarantee, all surplus funds generated by the Trust's activities are retained within the company and.
by law. are not capable of being distributed to the members of the company. The trustees meet on a
regular basis, as required. to review the past activities of the Trust and agree on the future aclivilies.
I Iruslees give thoir lime freely and no Iruslee remuneration was paid in the financial period. A
limited level of Trustee travel expenses were reimbursed during the year. Trustees are required lo
disclose all relevant interests an(J register them with the Chaiman and, in accordance with the Trust's
policy. withdraw from a declsion of the Trustees where a conflict arises.
The Trustees have reviewed the activities of the Trust and its subsidiaries and assessed the risks of
the group and are satisfied that systems exist lo miligale those risks where applicable.
The trust is planning lo implement procedures for the training of trustees in the 8ulumn of 2024.
Day-to-day management of the Trust's activities is handled by the Chairman, Peter Bell, and Rachel
Sykes.
Golng eoncern
Planning for future festivals remains challenging in light of the inflationary environment and the
consequent macro-economic uncertainties, but the directors of Chalke Valley History Festivals Limited
and the Trustees are mindful of ensuring that the Trust's and Chalke Valley History Festivals Limiled's
resources are deployed prudently lo ensure the longevity of the important cultural institutions that the
Chalke Valley History Festivals have become and to ensure that the objects of the trust are fulfilled.
The trustees have been encouraged by the success of the festivals operated in 2023 and the potential
to attract larger audiences and a wider sponsor base in the fuluro.
In view of the support of our donors and the prudent level of financial reserves in the Twst. the trustees
are confident that the Trust and the wider group can continue lo operate as a going concern.

Chalke Valley History Trust
Trustees, Report
Reference and administrative details
Charity name.. Chalke Valley History Trust
Charity registration number.. 1148413, Company registration number.. 08085970
Registered in England and Wales
Directors and Trustees
The directors of the charitable company are ils trustees for the purpose of charity law and throughout
this report are collectively referred to as the trustees.
P.E. Bell - Chairma
T. Holland Iresigned 30 November 2023}
Lady P.M. Marland
S.C. Whitmore
C. B. Culpin
D.S. Bernstein
W.G. Tucker lappoinled 17th November 20231
S. Patel {appointed 17th November 20231
T. Pastor (appointed 171h November 2023)
T.J Dolby lappointed 2fwJ October 2023)
T.W Sanderson {appointed 2nd October 20231
Audltors
PKF Frdncis Clark
Hitchcock House,
Hilltop Park,
Devizes Road.
Salisbury, SP3 4UF
Sollcitors
Wilsons Solicitors LLP,
Aexandra House,
Sl Johns Street,
Salisbury, SP12SB
Registered Office
Alexandra House.
St Johns Street.
Salisbury, SP12SB
Bankers
HSBC,
19 Minster Street.
Salisbury SP1 1TE
Lloyds
38 Blue Boar Row,
Salisbury, SP1 1 DB
Principal Office
Unil 1 The Stables,
Chalke Pyt Farm,
Broad Chalke,
Salisbury.SP5 5Er
www.chalkevalle
histo
charity.
st.or
.uk, which contains more detail on the aims and activities of the

Chalke Valley History Trust
Trustees, Report
Small Company Provisions
This report has been prepared in accordance with the small companies. regime under the Companies
Act 2008.
TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The trustees (who are also the directors of the company for the purposes of company lawl are
responsible for preparing the Trustees. Annual Report and the financial ststements in accordance with
applicable law 8nd United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Praclicel-
Company law requires the Iruslees to prepare financial statements for each financial year which give a
true and fair view of the state of affairs of the charttable 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 slatemenls. the trustees are required lo..
select suitable accounting policies and then apply them consistenuy.,
observe the methods and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent..
stale whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it i% inapproprlate to
presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any lime the financial position of the charitable company and enable thern to ensure that
the financial statements comply with the Companies Act 2006. The trustees 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.
Completeness of inforniatlon to auditors
In so far as the trustees are aware..
there is no relevant audit information of which the charity's auditors are unaware., and
the trustees have taken all steps that they ought to have tsken to make themsefves aware of
any relevant audit information and to establish that the auditors are aware of that information.
The Trustees approved the Trustees. Annual Report, on .
Signed on behalf of the trustees
Registered office..
Alexandra House
Sl Johns Street
Salisbury
Willshire
SP12SB
P.E. Bell
Chairman

Chalke Valley History Trust
Independent auditors, report
for the yoar ended 30 November 2023
Opinion
We have audited the flnancial statements of Chalke Valley History Trust Ithe'charity'l for the year ended
30 November 2023, which comprise the Consolidated Statement of Financial Activities, the Consolidated
and individual Balance Sheets. and Notes to the Financial Statements. including a summary of significant
accounting policies. The financi81 reporting framework that has been applied in their prepaTation is United
Kingdom Accounting Standards. comprising Charities SORP FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally
Accepted Accounting Praclicel.
In our opinion the financial statements..
give a true and fair view of the slate of the charity's arkd the group's affairs as al 30 November
2023 and of the group's incoming reSoUr￿S and application of resources, including its income and
expenditure, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Acc8pled Accounting
practi￿.. and
have been prepared in accordance with the requirements of the Compani@s Act 2006.
Basis for oplnlon
We conducted our audit in accordance with Inlgrnational Standards on Auditing IUKI (ISAS (UK)) and
applicable law. Our responsibllllles under those standards are further described in the Audilorfs
responsibilities for the audit of the financi21 statements section of our report. We are independent of the
charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK. including the FRC'S Ethical Stsndard, 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 lo provide a basis for our opinion.
Conclusions rglatlng to going concern
In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis
of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not idenlFfied any material un¢ertainlies relating lo
events or conditions that, individually or collectively. may cast significant doubt on the comp8ny's ability
to continue as a going concem for a period of at least Iwelve months from when the original financial
statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect lo going concern are desuibed
in the relevant sections of this report.

Chalke Valley History Trust
Independent auditors, report
for the year ended 30 November 2023
other Infomiation
The trustees are responsible for the other infomialion. The other information comprises the information
included in the annual report, other than the fin8ncial statements and our auditor's report thereon. Our
opinion on the financial slalements does not cover the other infom)ation and, except lo the extent
othetwise explicitly slated in our report, we do not express any form of assurance concluslon Ihereon.
In connection with our audit of the financial slatemenls. our responsibility is lo read the other information
and, in doing so, consider whether the other information is materially inconsistent with the financial
stslemenls or our knowledge obtained in the audit or otheNise appears lo be materially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required lo determine
whether there is a material misstatement In the financial statements or a material misstatement 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 that fact.
We have nothing lo report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion. based on the work undert8ken in the course of the audll=
the infomialion given in the Trustees, Report for the financial year for which the financlal
statements are prepared is consistent with the finar7cial statements,. and
the Trustees, Report has been prepared in accordanc@ with applicable legal requirements.
Matters on whlch we are requlred to report by exception
In the light of our knowledge and understanding of the company and ils envlronment obtained in the
course of the audit, we have not identified material misstatements in the Trustees Report lincorporating
the Strategic Reportl-
We have nothing lo report in respect of the following matters where the Charities Act 2011 requires us
lo report lo you if. in our opinion:
adequate accounting records have not been kept, or relums adequate for our audit have not been
received from branches not Msited by us,. or
the financial statements are not In agreement with the accounting records and returns.. or
certain disclosures of Iruslees remuneration specified by law are not made., or
we have not r8C8iV8d all the Infomation and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees, Responsibilities Statement. the Iruslees (who are
also the directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a Inje and fair view, and for
such inlemal control as the trustees determine is necessary to enable the preparation of finaricial
statements that are free from material misstatement, whether du8 to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's 8bility to
continue as a going concern, disclosing, as applicable. mallers related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or lo cease
operations. or have no realistic alternative but lo do so.

Chalke Valley History Trust
Independent auditors, report
for the year ended 30 November 2023
Auditor's responsibilities for the audit of the finan¢ial statements
Our objectives are lo 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 delecl a material misstatement when it exists.
Misstalemenls 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
Pro￿dureS in line with our responsibilities. outlined above, to detect material misstatements in ￿SpeCt
of irregularities, including fraud. The extent to which our procedures are capable of detecting
l￿egUlarlties. Including fraud is detailed below..
As part of our audit planning we obtained an understanding of the legal and regulatory framework that
is applicable lo the Group. We gained an understanding ofthe Group and the industry in which the Group
operates as part of this assessment to identify the key laws and regulations affecting the Charity- As part
of this, we discussed these with the relevant individuals responsible for compliance. The key regulations
we identified were Charity legislation. health and safely regulations and compliance with tax legislation.
We also considered those laws and regulations that have a direct impact on the preparation of the
financial statements such as the Companies Act 2006.
We discussed with management how the compliance with these laws and regulations is monitored and
discussed policies and procedures in place. We also identified the individuals who have responsibility
for ensuring that the Charity complies wrth laws anij regulations and deals with reporting any issues if
they arise. As part of our planning procedures, we assessed the risk of any non-compliance with laws
and regulations on the Charity's ability lo contlnue trading and the risk of material misstatement lo the
accounts.
We also evaluated m8n8gement's incentives and opportunities for fraudulent manipulation of the
Inancial statements. The key incentive identified is to ensure a good financial position to meet budgets
and wo determined that the principal risks were related lo the overstatement of profil. either through
overstsling revenue, understating expendrf(ure or management bias in accounting estimates.
Based on this understanding we designed our audm prO￿dureS to identify non-compliance with such
laws and regulations. Our procedures involved the following..
Enquiries of management regarding their knowledge of any non compliance with laws and
regulations that coijld affect the financial statements. As part of these enquiries we also discussed with
management whether there have been any known instances of fraud, of which there were none.
Reviewed filings with the Charity Commission and whether there were any serious incident reports
made during the year, of which there were none which had a material impact on the accounts.
Reviewed legal and professional costs lo identify any possible non compliance or legal costs i
respect of non compliance.
Reviewed Board minutes.
Audited the risk of management override of controls. including through testing journal entries and
other adjustments for appropriateness, and evaluating the business rationale of significant transactions
oulsKle the normal course of business.
10

Chalke Valley History Trust
Independent auditors, report
for the year ended 30 November 2023
Reviewed eslimales and judgements made in the accounts for any indicats'on of bias and
challenged assumptions used by management in making the estimates.
Audited the risk of fraud in revenue recognition wlth a focus on comp181eness of income and
treatment of income around the year end.
Because of the inherent limitations of an audiL there is a risk that we will not delecl all i￿egulaTIties,
including those leading lo a material misstatement in the financial statement. This risk increases the
further removed non-compliance with laws and regulations is from the events and transactions reflected
in the financial statements as we are less likely to become aware of instances of non-compliance. The
risk of not detecting a material misstatement due lo fraud is higher than the risk of not detecting one
resulting from error. as fraud may involve deliberate concealment, collusion, omission or
misrepresentation.
A further description of our r8sponsibililies for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.ukJauditorsresponsibiltties. This description fomis
part of our auditor's report.
Use of our report
This report is made solely lo the charitabl8 company's members, as a body. in accordance with section
151 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work
has been undertaken so that we might stale to the charity's trustees those matters we are required to
state lo them in an auditor's report and for no other purpose. To the fullest exlenl pemitted by law, we
do not accept or assume responsibilty to anyone other than the charivs trustees as a body, for our
audit work, for this report, or for the opinions we have fonned.
Paul Giessler FCA (Senior Statutory Auditor}
For and on behalf of
PKF Fran¢Ss Clark, Statutory Auditor
Hitchcock House.
Hilltop Park,
Devizes Road.
Salisbury,
SP3 4UF
15 July 2024

Chalke Valley History Trust
Consolidated statement of financial activities
for the year ended 30 November 2023
Ilncluding Consolidated Income and Expenditure Account)
Unreslrict&d Restricted
funds
funds
2023
2023
Total
funds
2023
Tolal
funds
2022
Notes
Income from..
Donations and legacies
Charitable activities
Investment income
3{al
313,007
3{bl 1,005,885
31cl
814
7,829
320,836
1.005,885
814
308.869
884.736
48
Total
1,319,706
7.829 1.327.535 1.193.653
Expendlture on..
Raising funds
Charll8ble activities
1,269,110
30.519
7.829 1.276.939 1,225,130
30,519
41,889
Total
1.299,629
7,829 1.307.458 1,267,019
Not income/(expendituro) resources
Before tax
Tax on activities
20,077
20.077
173,3661
2,865
Net income/(expenditureJ resourcgs
after tax and before translers
20.077
20,077
170.5011
Transfers between funds
16
Ngt income / (expenditure)
and movement In funds
20.077
20,077 {70,5011
Reconciliation of funds
Total funds brought fonN8rd
383.553
6,970
390,523
461,024
Total funds carried foM8rd
403,630
6,970
410.600
390,523
The results for the year derlve from continuing activities and there are no other gains or losses
other than those shown above.
12

Chalke Valley History Trust
company no.08085970
Consolidated and charity balance sheets
at 30 Novernber 2023
Consolidated
2023
Charity Consolidaled
2023
2022
Chanty
2022
Notes
Fixed assets
Intangible assets
Tangible fixed assets
Investments
23,500
7.864
35,250
9.802
10
31.364
45.052
Current assets
Debtors
Cash at bank in hand
12
29,498
389.742
12,812
361,336
381,086
349.163
419,240
381,086
374,148
349,163
Credltors.. amounts falling due within
on8 year
13
(40,0041 115.5791 128,677} 110,7881
Net current (liabiTlities)/•$sets
379.236
365,507
345,471
338.375
Total assets loss current
Ilabilities
410,600
365.509
390,523
338.377
Provlslons for Ilabilities
15
Net
assets
410,600
365,509
390,523
338.377
Funds
Reslricled furTrds
Unrestricted funds
16
6.970
403,630
6,970
358.539
6,970
383,553
6.970
331,407
Total charity funds
410.600
365.509
390.523
338,377
These firbancial statements were approved by the Trustees on
behalf by..
I .THpJE 34>Z
and signed on their
P.E. Bel
Chairman
13

Chalke Valley History Trust
company no. 8085970
Consolidated cash flow statement
at 30 Novembgr 2023
Year ended Year ended
30
30
November November
2023
2022
Not8S
Net cash inflow/ fouttlow) from operating actlvlties
Including grants recelvable
191a} 28.078
13.0181
Cash outflow fn>m ITnvgSting actlvltles
Purchase of fixed assets
Proceeds on sale of tangible fixed assets
Interest received
16861 {50.7601
200
814
48
328
{50,7121
Incrgase/(decrease) in ¢•sh and cash equlvalents
28,406
153,730}
Cash and cash equivalents al 30 November 202212021
361.336
415,066
Cash ané cash equivalents al 30 November 202312022
191bl
389,742
361,336
14

Chalke Valley History Trust
Notes to the financial statements
for tho year ended 30 Novembgr 2023
1. Accountlng policies
Constltution
The Charity is a company limtted by guarantee. incorporated in England and Wales. In the event of
the Charity being wound up. the liability in respect of the guarantee is limited to £10 per member of
the Charity. The registered office is shown in Reference and Administrative details in the trustees,
report.
Ac￿Unting conventioft
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
Fln8ncial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16
July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021, the Charitles Act 2011 and the Companies Act 2006.
The accounts are prepared on a going concern basis under the historical cost convention and in
accordance with applicable accounting standards.
The presenlalional and functional currency of Chalke Valley History Tnjst is considered to be
pounds sterling because that is the currency of the primary economic environment in which the
company operates. The accounts have been rounded to the nearest £.
Chalke Valley History Trust meets the definition of a public benefit entity und&r FRS 102.
Basis of consolldatlon
These financial statements consolidate the results of the charity and ils wholly-owned subsidiaries
Chalke Valley History FestlV8ls Llmited and CV Schools History Festival Limited on a line by line
basis.
The registered office of both subsidiaries Is Alexandra House, Si Johns Street. Salisbury, Willshire,
SP12SB.
The charity has taken advantage of the exemption contained within 408 of the Companies Act 2006
not to present ils own Income and Expenditure Account. The nel increase in funds for the individual
charity was £27.132.
A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the
power to govem the financial and operating policies of an entity so as to obtain benefits from its
activities.
Inter-company Iransaclions. b81ances and unrealised gains on transactions be￿68n the charity and
its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an imp8irrnent that requires recognition in
the consolidated financial stalemenls.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with
the policies adopted by the group.
15

Chalke Valley History Trust
Notes to the financial statements
for the ygar gnded 30 November 2023
1. Accounting policies Icontinuedl
Going concwn
Plannlng for future festivals remains challenging in light of the inflationary environment and the
consequent macro-economic uncertainties. but the directors of Chalke Valley History Festivals
Limited and the Trustees are mindful of ensuring that the Tnjsl's and Chalke Valley History Festivals
Limiled's resoLJrces are deployed prudently to ensure the longevity of the important cultural
institutions that the Chalk8 Valley History Festivals have become and to ensure that the objects of
the trust are fulfilled.
The trustees have been encouraged by the success of the festivals operated in 2023 and the
potential to attract larger audiences and a wider sponsor base in the future.
In view of the support of our donors and the pruderrt level of financial reserves in the Trust, the
Iruslees are confident that the Trust and the wider group can continue to operate as a going concern.
Crltlcal aeeounting judgements and keysoureès of estimation uncertwnty
There are no key sources of estimation uncertainty or judgements used in the preparation of these
accounts.
Tanglble assets and depreGiation
All categories of tangible fixed 89sels are capilalised al cost. Depreciation of tangible fixed assets
is calculated to write off their cost or valuation less any residual value over their estimated useful
lives. This has been provided at the following rates..
Equipment
14¥0 straight line
Inlangibh fix8d assels and amothatlon
Intangible assets are st8ted al cost less accumulated amorbsalion and accumulated impairment
losses.
Afflortisalion is provtded on intangible assets so as lo write off the cost less any estimated residual
value. over their useful life 8s follows=
Asset Class
Website development
Amortisation method and rate
4 years straight line
Investmènts
Fixed asset Investments represent investments in subsidiary companies and are recorded al cost.
GO￿rnanCe costs
Governance costs are those incurred in connection with the strategic management of the charity
and compliance with s181ulory requirements.
Fund accountlng
Unreslricled income funds are general funds that are available for use at the trustees, discretion in
furtherance of the general objectives of the charity.
Restricted funds are those which must be used in accordanc6 with specific restrictions imposed by
the donors or which have been raised by the charity for particular purposes.
16

Chalke Valley History Trust
Notes to the financial statements
for the year ended 30 Novornber 2023
1. Accounling policies (continued)
IncomiTng resour¢es
Al incoming resources becoming available to the charity are recognised in the Statement of
Financial Activities ISOFAI when the charity is legally entitled lo the income and the amount can be
quantified with reasonable accuracy.
Income relating lo the running of the festivals lincluding ticket sales, sponsorship and advertising,
commissions and concessions) is recognised, nel of value added lax where applicable, in th8 period
in which the event to which il relates lakes place. Any income received in advance, for example
from sponsors, is recorded as deferred income to the extent that the serwce has not yel been
delivered.
Rosources expended
Expenditure is recognised in the SOFA on an accruals basis under headings that aggregate all costs
related to that category. Costs that cannot be directly attributed to particular headings are allocated
on a reasi)nable and consistent basis.
Grants payable are payments made to third parties In the furtherance of the charitable Dbjeclives.
Where the charity gives a grant with conditions for its payment being a specific level of se￿iCe or
outPLrt lo be provided, such grants are only recognised in the SOFA once the reclpienl of the grant
has provided the specific service or output.
Grants payable wilhoul perfomance conditions are only recognised in the aceounls when
commitment has been made and there are no conditions lo be mel relating to the grantwhich remain
in the control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainly about eith8r the timing of the grant or the amount of grant payable.
Volunteerand othor donat•ds8ivIGes
The value of services provided by volunteers is not incorporated into these financial statements.
Taxation
Income lax expense represents the sum of the current lax currently payable and deferred tax. Tax
is recognised in profil or loss, except that a change attributable to an item of Income or expense
recognised as other comprehensive in¢ome is also recognised directly in other comprehensive
income.
The current income tax charge 18 Calculated on the basis of lax rates and laws that have been
enacted or substantively enacted by the reporting date in the countries where the company operatos
and generates taxable income.
Deferred lax is recognised in respect of all timing differences that have originated bul not reversed
at the balance sheet dale where trans8Ctions or events have occurred al that dale that will result in
an obligation lo pay more, or a right to pay less or lo receive more, tax.
Operating leases
Rentals payable under operating leases are charged in the profil and loss account on a straight line
basis over the lease term.
17

Chalke Valley History Trust
Notes to the financial statements
for Ihe year ended 30 November 2023
2. Net incomlng l (outgoing) resources for the year
This is stated after charging..
Group
Charlty
2023
2022
2023
2022
Depreciation and amortisalion
14.031
14,433
Audttorfs remuneration
10,500
9.500
10,500
9,500
Operating leases
7,020
7,020
Income
fa) Voluntarylncome
UnrestrKfed Restricted
funds
funds
2023
2023
Total
funds
2023
Tot81
funds
2022
Donations and grants
313,007
7.829
320.836
308,869
313,007
7,829
320,836
308,869
(b) Income from Gharitable acllvitles
Unrestricted Reslricled
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Ticket sales
Sponsorship and advertising
Concessions
Membership fees
Bar income
Other income
555,806
309,463
67,137
39,313
15,298
18.868
555.806
309.463
67,137
39.313
15,298
18,868
459,579
306.245
63.948
26,004
18,007
14.437
1,005,885
1,005.885
884.736
18

Chalke Valley History Trust
Notes to the financial statements
for the year onded 30 November 2023
3. Income (continued)
(c) Investment Income
Unrestricted Restrlcted
fvnds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Interest receivable
814
814
48
814
814
48
4. Expenditure- Charitable actlvltles
Unrestricted R&stricled
fvnds
funds
2023
2023
Total
funds
2023
Total
fund
2022
Grants paid
Admin costs- govemance related .
13,986
16.533
13.986
16,533
22.756
19,133
30,519
30,519
41.889
2023
2022
I'l Support costs- govemance related include
Auditors, remun8ration
accountancy fees
independent examination fees
audit fees
Legal and professional fees
Office expenses
Trade subscriptions
Insurance
Travel & subsistence
Bank charges and interest
3,831
2,000
10,500
769
535
181
259
75
383
9.500
5.707
1,300
232
394
16,533
19,133
5. Grants to institutions
Charlty
Name of Inslltutlon
Activity
Chalke Valley History Festivals Limited
CV Schools History Festival Limited
Historical education
245.950
Historical education
30,000
275,950
19

Chalke Valley History Trust
Notes to the financial statements
for the year ended 30 November 2023
6. Net eXpend￿ure from trading activities of subsidiaries
Chalke Valley History Trust had two subsidiary companies during the period ended 30 November
2023 details of which are given in note 11. Chalke Valley History Festivals Limited (Company
registration number= 082902601 and CV Schools History Festival Limited (Company registration
number.. 0853533261 are material lo the group accounts. A summary of their trading results is
shown below.
Year
2023
Year
2022
Turnover
Cost of sales
1,339,838
1997,4831
1.257,101
1981,5511
Gross profil
342.355
275,550
Administrative expenses
Olher operating income
{342,364
45
{305,461 }
2,570
Operating profil Illossl
Interest receivable
Interest payable
441
127,341 }
Profit before tsxalion
441
{27,3401
Taxation
2,865
Profrt in year
441
124,475)
7. Staff numbers and costs
The average number of staff employed during the year in the Trust group was as follows..
2023
2022
No.
Management and adminislralion
Event staff
17
15
The aggregate payroll costs of these persons were as follows..
2023
2022
Wages and salaries
Social security costs
Pellsion costs
215.836
11.611
5,171
217.695
14.138
6,116
232,618
237,949
20

Chalke Valley History Trust
Notes to the financial statements
for the year ended 30 November 2023
Staff numbers and costs (continued)
The Key Management Personnel of the group comprise the Trustees of Chalke Valley History Trust.
there were no emoluments paid lo the Trustees in their capacity as Iruslees. A Injstee was paid
£6.25012022 £15.6701 in his capacty as a director of Chalke Valley History Festivals Limited. as
approved by the Charity Commission.
No employee received remuneration amounting to more than £60,000 in either year.
Trustees received reimbursed travel and subsistence expenses of £Nil12022 £nil) during the year.
8. Taxation
Chalke Valley History Trust is a registered charity and is exempt from taxation on its income and
capital gains. The trading subsidiaries pay Corporation lax on their trading profits. The consolidated
L7x charge has been shown below.
Tax chargedllcreditedl in the income and expendllure account
2023
2022
Current taxation
UK corporation tax
(1,2561
Deferred taxation
Arlslng from origination and reversal of liming differences
{1.6091
Tax expense
12,8651
The lax on profil befofe lax for the year is lower than the standard rate of corporation lax in the UK
{2022 - lower than the standard rate of corporation lax in the UK} of 23.010/012022 - 19%).
The d￿ferenCeS are reconciled below:
2023
2022
Net incoming resources before tax
20,077
173,365}
Corporation tax at standard rate
4.619
Effect of income exempt from taxation
173,984)
Effect of expense not deductible in detemiining taxable profil (tax loss) 69,581
Relief on losses carried fO￿ard
Other differences
12161
113,940}
164.2111
72,956
2,330
Tax lincomeyexpense
12,865}
21

Chalke Valley History Trust
Notes to the financial statements
for the year ended 30 Novembor 2023
9. Intangible fjxed assets
Consolidated
Wobsite Development
Cost
At 1 December 2022
47,000
Additions
Disposals
At 30 November 2023
47,000
Cost or valuation
At 1 December 2022
11.750
11.750
Charge for the year
Eliminated on disposals
At 30 November 2023
23,500
Net book value
AI 30 November 2023
23,500
At 30 November 2022
35,250
Amortisation of £11,75012022 £11,750} is included in raising funds.
22

Chalke Valley History Trust
Notes to the financial statements
for the year ended 30 November 2023
10. Tangible fixed assets
Consolidated
Fumlture. fSttings
and equlpment
Cost
Al 1 December 2022
24,869
686
Additions
Disposals
{4001
At 30 November 2023
25,155
Cost or valuatlon
Al 10ecember 2022
Charge for the year
Eliminated on disposals
15.067
2,281
1571
At 30 November 2022
17.291
Net book value
At 30 November 2023
7.864
AI 30 November 2022
9.802
23

Notes to the financial statements
for the year onded 30 November 2023
11. Flxed asset investments
Investments are dassified as follows..
Consolidated
2023
Charity Consolidated
2023
2022
Charity
2022
Fixed asset investments
Subsidiary undortakings
Company N8m8
Country of
Incorporation
Principal
Class
Percentage
$hareholding
acbvity
Chalke Valley History Eng18nd
Festlvals Lirniled
and Wal89
ProvisSon of history
festivals to the gener81
public
Ordinary £1
100%
CV Schods History
Festival Limited
EngLgnd
and Wales
Provision of hi8tory
festiv815 to schools
Ordinary £1
100%
ProfiVILossl
for
2023
C8Pltal and
reserves
Chalké Valley History Fest￿valS Limited
CV Schods History Festival Limited
38,444
18.3521
567
11261
12. Debtors
Consolidated
Total
2023
Charity Consolidat8d
Total
Total
2023
2022
Charity
Total
2022
Trade debtors
Prepayments and accrued income
Other debtors
18,947
10,550
35
12,777
29,498
12,812
24

Notes to the financial statements
for the year ended 30 November 2023
13. Credltors: amounts falling due within one year
Consolidated
Tol81
2023
Charity Consolidated Charity
Total
Total
Total
2023
2022
2022
Trade creditors
Other lax and social security
Accruals and deferred income
Corporation lax
Other creditors
1fj,131
1,566
21,122
79
5,976
1,288
15,500
22,643
9,500
1.185
58
40,004
15,579
28,677
10,788
14. Deferred Income
Consolidated
Deferred
incom8
2023
Total
2023
Total
2022
Balance al 1 December 2022
Received during the period
Released during the pertod
10.643
10,643
2.737
2,737
{10.6431 110.6431
220
10,643
1220)
Balance as al 30 November 2023
2.737
2,737
10,643
Al the balance sheet date the group was holdlng funds received in advance for membershlp for
the new financial year.
15. Provisions for liabilities
Consolidated
Deferred
tax
2023
Total
2023
Tol81
2022
Balance al 1 December 2022
Increaselldecreasel in provisions
1,609
{1.6091
Balance as al 30 November 2023
25

Notes to the financial statements
for the year ended 30 Novgmber 2023
16. Restricted funds
Balance
B/Fwd
2023
Transfer fmm
Income Expenditu￿ unrestricted
Balance
C/Fwd
2023
Foyle donation
The Chilton Foundation
6,970
6.970
7,829
17.8291
6,970
7,829
17,8291
6,970
17. Analysis of group net assets betwaen funds
Unrestricted
funds
Restricted
funds
Total
funds
Fund balances at 30 November 2023 are rep￿sented by."
Fixed assets
Net current assetsllliabillllesl
31,364
372,266
31,364
379,236
6.970
Total net assets
403,630
6.970
410.600
Unrestricted
funds
Restricted
funds
Total
funds
Fund balances at 30 November 2022 are represented by."
Fixed assets
Net current assetsllliabilitiesl
45,052
338.501
45.052
345,471
6,970
Total net assets
383,553
6,970
390,523
18. Financlal commitments
AI 30 November 2023, the group had total financial commitments under non-cancellable
operating leases as set out below..
2023
2022
Payable one year
26

Notes to the financial statements
for the year ended 30 November 2023
19. Notes to the cash flow statement
(a) Reconciliation of net movementin funds to net cash Ilow from operatlng actlvltl8S.'
2023
2022
Net incomellloss) for the period before transfers
Ilncrease} l Decrease in debtors
Increase I (Dee￿aSe> in creditors
Depreciation and amortisation
Interest receivable
Loss on disposal
Tax expense
20.077 170.5011
116,6861 39,232
11,327
15,475
14.031
14,433
18141
1481
143
{1,609)
Cash generated from operations
28.078
{3,018}
Tax paid
Net cash inflow from operating aclimlies
28,078
13,018}
(b) Analysis of c•sh and cash •quivalents
Gmup
Year ended Year ended
30 November 30 November
2023
2022
Cash at bank and in hand
389,742 361,336
389,742 361,336
Analysis of net funds
l December
2022
Cash 30 November
flow
2023
Cash at bank and in hand
361,336
28.406
389,742
Net debt
361,336
28,406
389,742
l Dec$mber
2021
Cash 30 November
flow
2022
Cash at bank and in hand
415,066
{53,730}
361,336
Nel debt
415,066
{53,730}
361,336
27

Notes to the financial statements
for the year endgd 30 November 2023
20. Movement in funds
The movement in funds. during the year, for the group and Charity were as follows..
Consolid8ted
2023
Charity Consolidated Charity
2023
2022
2022
Net movement In funds
Fund balances brought forward
20,077
390,523
27,132
338.377
170.5011 168,5241
461,024 406.901
Fund balances carried forward
410,600
365,509
390.523 338,377
The results for the year derive from continuing 8Ctivilies and there are no other gains or losses
other than those shown above.
21. Related partles
All related party transactions are routinely reviewed lo ensure that they are appropriate. This
review process is designed to ensure that in each instance the relationship is not material enough
lo unduly influence either paty, that the related party has the necessary skills and expertise to
deliver the service.
During the year, Trustees donated £nil {2022.. £6.5951 to the trusL
28

Chalke Valley History Trust
Statement of financial activities
for the year ended 30 November 2023
Unrestricted Reslricled
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Notes
Income fronj."
Donations and legacies
Investment income
320,383
814
7.829
328,212 307,903
814
47
Total
321,197
7,829
329.026 307.950
Expenditure on.-
Charitable activities
Other expenditure
293.586
500
7,829
301,395 375,209
500
1.265
Total
294,066
7.829
301,895 376,474
Net income/(expendlture) resources
27,131
27.131
168.524}
Net income / (expenditure)
and movement in funds
27,131
27,131 168.5241
Reconciliation of funds
Total funds brought forward
331,407
6,970
338,377 406.901
Total funds carried forward
358.538
6,970
365,508 338,377
The results for the year derive from continuing activities and there are no other gains or losses
other than those shown above.
29