Company Registralion Number: 08085970 Charity Registration Number: 1148413 Chalke History Trust (A company limited by guarantee) Annual Report and Consolidated Flnanclal Statements Year Ended 30 November 2024
Chalke History Trust Trustees, Report The Trustees Iwho are also directors of the charity for the purposes of the Companies Act) present their annual report lincluding the strategic report for the purposes of Companies Act 2006} together with the financial statements of Chalke History Trst Ilhe company and the group) for the year ended 30 November 2024. OBJECTIVES AND ACTIVITIES- MISSION AND PUBLIC BENEFrr Alms The objects of the Tnjsl are the promotion and advancement of the education of the public by the study of history land 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 carry out these objects by.. funding the Chalke History F8stival', funding the Chalke History Festival for Schools.. funding visits to the festival. schools. festival and to other hislory-relaled sites and events by schools unable lo afford such visits olhetwise: and making grants lo applicants who apply for funding of projects which fulfil the objects of the trust. Public Benefft 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. f. PERFORMANCE FOR THE YEAR a} Fundfiising During the financial year to 30 Nov8mber 2024 the Trust received donations of £448,241 up 36.6% on the 2023 financial year. These donations have been provided by charitable foundations and individuals to support the activities of the Chalke History Festival and the Chalke History Festival for Schools as well as the other objects of the Trust. Notable donations to support the festivals indLJded'. A donation of £47,000 from the Calleva Foundation. and a prior year donation of £75.000 was paid in advance lo support the 2024 festival- A donation of £50,000 from Peter Livanos., Two donations of £40,000 one for the 2024 festival and one for the 2025 festival from the Blavatnik Family Foundation- A donation of £20.000 from Ihe Chilton Foundation., A donation of£10,000 from Lady Cobham., and A donation of £10,000 from the Andrew and Belinda Scott Trust.
Chalke History Trust Trustees, Report The trust seeks to raise funds from a range of individuals, foundations and trusts whose grant- making and donation approach aligns with the trust. The Charity is not subject to any regulation. The fundraising team is monitored by the Board through regular Uates. No fundraising complaints have ever been received. In accordance with the safeguarding policy adopted vulnerable people are prolocled through a series of carefully calibrated management processes. b) Grants In 2024 the Trust Was only able lo make limited grants from ils surplus unrestricted funds in response lo third party applications. These grants tolalled £6,930 and were made in addition to the larger grants lo Chalke History Festivals Limited of £512,450 and to CV Schools History Festival Limited of £16,600. Al the grants were made in accordance with the Trust's grant making policy and the requirements of donors to the Trust. Grants made outside the Trust group comprised- Grants totallirbg £4.000 to 8 PhD students to fund tuition and research cosls.. and., Grants totalling £ 2,930 to three schools lo support batdefield tours and other history projects c) Festlvals The 2024 Chalke History Festival was held in the last week of June. The festival had a varied programme of events and living history displays. The festival achieved a good level of sponsorship income despite the broader economic challenges. Ticket sales were higher than in 2023 bul inflation in operating costs resulted in increased costs so a deficit of £60,762 was recorded. The directors of Chalke History Festivals Limited are taking steps to reduce this deficit by increasing ticket prices and seeking more sponsorship revenue. In 2024 the Chalke History Festival for Schools had a good performance with pupil numbers up overBII compared lo the prior year. In addition, the second year of operating a SEN day saw a strong increase in the number of special education needs pupils allending. 2. FINANCIAL REVIEW The intention 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 any surpluses generated by the festivals. From the early years of the festival, the directors of the feslival and the Iruslees deliberately buill-up reseNes. Although these reserves have been partially utilised to fund operating cost inflation and investment in capabililies of the festival, overall the level of reseNes in the Trust remains adequate. The trustees intend to rebuild the reserves of the Trust in future years lo enhance the financial resilience of the organisation. On a consolidated basis, the Trust group had lolal incoming SOurCeS of £1,416,36812023 - £1,327,535). comprising of income from donations of £448,24612023 - £320,836), income from charitable activities li.e. the operation of the two fests'valsl of £966.361 12023- £1,005.8851 and investment income of £1.76112023- £8141. The Trust group's consolidated resources expended tolalled £1.585.27212023 - £1,307,458) comprising.. expenditure on raising funds of £1,556,67212023 £1,276,939) and charitable activities expenditure of £28.60012023- £30,519). The Trust generated a deficit of £1170,160112023 - surplus of £20,077} in the year to give consolidated net funds of £240,440 to carry forward. Reslricled funds carried fotward were £2,400 and unrestricted funds carried forward were £238.040. Chalke History Festivals Limited generated revenue including donations of £1.490.791 12023- £1,262,691) and generated a loss after lax of £{60,762112023- profit 01 £5671. CV Schools History Festival Limited generated revenue including donations of £8e,23212023 - £77,219) and generated loss after lax of £13.030}12023 - £1126)).
Chalke History Trust Trustees, Report The Twst had donation and legacy income of £448.24112023 - £328,212), investment income of £1,189 {2023 - £8141 and. after making grants of £540.29812023- £301,395) and incurring govemance costs of £50012023 - £5001. il recorded a decrease in nel funds of £191,368). Al the period end. the Trust had cash of £290.9118nd total nel assets of £274,141. 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 2025 festivals. 3. PRINCIPAL RISKS AND UNCER TAINTIES Risk management The Trustees are satssfied that a process exists to assess the major risks to which the Charity is exposed, in particular those related to the operation of the Festivals. The Trustees have deleg8led responsibility for day lo day management lo the Boards of Chalke History Festivals Limited and CV Schools History Festival Limited. The risk management procedures will be reviewed in detail again during the 2025 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 resetve has been adoptert in line with Charity Commission guidance in order lo ensure Ihal there are sufficient funds available lo facililale an ordedy winding up of the charity should it become necessary. In 8ddilion to these longer-lemi reserves, the Trust had free cash reserves of £91.702 as al 30 November 2024. Furthermore. Chalke History Festivals Limited had cash of £5,869 and CV Schools History Fesb'val Limited had cash of £Nil al the year end. 4. PLANS FOR FUTURE PERIODS The Tnjst intends to continue lo solicit funding and donations for ils aclviknes. It plans lo support both the Chalke History Festival and Chalke Schoo15 History Festival for the long lemi and also lo continue to make other grants to applicants who seek funding for projects which meet the Trust's grant-making policy. Structure, governance and management Organisational structure The Chalke History Trust was incorporated on 28 May 2012 as a company limited by guarantee and is consliluted under articles of association dated 28 May 2012. The eslablishmenl of the Trust arose from the desire of the founders of the Chalke Hislory 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 owns all the share C8pilal of two trading companies.. Chalke History Festiva15 Limited. which operates the Chalke History Festival. and CV Schools History Festival Limited. which operates the Chalke History Festsval for Schools.
Chalke History Trust Trustees, Report 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 to the Trust. Further trustees were appointed in the period 2016 - 2018 who bring complementary skills lo the original trustees. Tony Pastor. Warren Tucker and Shalina Patel were appointed as Iruslees on 17th November 2023. Chris Culpin resigned as a trustee on 1 July 2024. Further trustees are being sought in the next financial year. Trustees are recruited through the neOrk of contacts of supporters of the festival. Trustees undertake training utilising online training courses. The trLJslees are the members of the company tsnd 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 Iruslees meet on a regular basis, as required. to review the past activities of the Trust and agree on the future aclivilies. All trustees give their lime freely and no trustee remuneration was paid in the financi81 period. A limited level of Trustee travel expenses were reimbursed during the year. Trustees are required lo disclose all relevant interests and register them with the Chairman and. in accordance with the Trust's policy, withdraw from a decision of the Trustees where a conflict arises. The Trustees have reviewed the activities of the Trust and ils subsidiaries and assessed the risks of the group and are satisfied that systems exist to miligale those risks where applicable. D8y-to4ay 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 History Festivals Limited and the Trustees are mindful of ensuring that the Trust's and Chalke History Festivals Limited's resources 8re deployed prudently lo ensure the longevity of the important cultur81 institutions that the Chalke History F6stivals 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 2024 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 prudent level of financial reseNes in the Trust. the trustees are confident that the Trust and the wider group can continue lo operate as 8 going concern.
Chalke History Trust Trustees, Report Reference and administrative details Charity name: Chalke History Trust Charity regi5trdtion number.. 1148413, Company registration number.. 08085970 Registered in England and Wales Dir8ctors and Trustees The direelors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred lo as the trustees. P.E. Bell- Ch8im8n Lady P.M. Marfand S.C. Whilmore C. B. Culpin (resigned 30 June 20241 D.S. Bernstein W.G. Tucker S. Patel T. Pastor T.J Dolby T.W Sanderson S.E Hansen {8ppointed 10 March 20251 N. Siickland lappointed 10 March 20251 Auditors PKF Francis Clark Hitchcock House, Hilltop Park. Devizes Road, Salisbury, SP3 4UF SolS¢ltors Wilsons Solicitors LLP. Alexandra House, St Johns Street, Salisbury. SP12SB Reglstered Offlce Alexandra House, Sl Johns Street, Salisbury. SP1 2SB Bankers HSBC. 19 Minster Street, Salisbury SP1 1TE Lloyds 38 Blue Boar Row. Salisbury, SP1 1 DB Prlnclpal OffiGe Unit 1 The Stables, Chalke Pyt Farm. Broad Chalke, Salisbury,SP5 SET www.chalkefestival. om. which contsins more detail on the aims and aclivrties of the charity.
Chalke History Trust Trustees, Report Small Company Provisions This report has been prepared in accordance with the small companies. reglme under the Companies Act 2006. 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 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Iwstees to prepare financial statements for each financial year which give a tnje and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consislenuy., observe the methods and principles in the Charities SORP: make judgemellts and estimates 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 stalemenls.. prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reason8ble accuracy at any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Compleleness of inforniatlon to audltors 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 lo have taken lo make IhemseSves aware of 8ny relevant audit information and lo establish that the auditors are aware of that information. The Trustees approved the Trustees, Annual Report, on . Signed on behalf of the Iruslees Registered office: Alexandra House Sl Johns Street Salisbury Witshire SP1 2SB P.E. Bell Chaimian
Chalke History Trust Independent auditors, report for the year ended 30 Novernber 2024 Oplnlon We have audrted the financial statements of Chalke History Trust Ithe 'charitYI for the year ended 30 November 2024, which comprise the Consolidated Slalemenl of Financial Activities, the Consolidated and individual Balance Sheets. and Notes to the Financial Slatemenls. including 8 summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 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 and the group s affairs 8s at 30 November 2024 and of the group's incoming resources and application of resources. including ils income and expendrf(ure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Interrsational Standards on Auditing (UK} IISAS IUK}} and applicable law. 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 independent of the charity in accordance wilh the ethical requirements that are relevant to our audit of the financial ststement5 in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Conclvsions relating to golng concem In auditing the financial slalemenls, we have concluded that the Trustees. use ofthe going concern basis of accounting in the preparation of the financial slal8menls is appropriate. Based on the work we hav& perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the company's ability to continue as a going concem for a period of at least twelve months from when the original financial statements were aulhorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Chalke History Trust Independent auditors, report for the year ended 30 November 2024 Other information The trustees are responsible for the other information. The other information comprises the information included in the annual reF)Ort. other than the financial slalemenls and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information 8nd. except to the extenl olhernise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. Dur responsibility is lo read the other information and. in doing so. consider whether the other information S materially inconsistent with the financial slalements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required lo detemiine whether there is a material misstalemenl in the financial statements or a material misstatement of the other information. If, based on the work we have perfomied, we conclude that there is 8 material misstatement of this other infomialion, w8 are required to report that fact. We have nothing to report in this regard. Oplnlon on other mattgr prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforniation given in the Trustees. Report for the financial year for which the financial statements are prepared is consislenl with the financial statemonls- and the Trustees, Report has been prepared in accordance with applicable legal requirements. Matter5 on which we are requlred to report by exception In the light of our knowledge and understanding of tho company and ils environment obtained in the course of the audit, we have not identified material misslalements in the Trustees Report lincorF)orating the Strategic Report). We have nothing to report in respect of the following matters where the Charities Act 2011 require5 US to report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not beer7 received from branches not Msiled by us.. or the financial statements are not in agreement with the accounting records and retums,. or certain disclosures of trustees remuneration specified by18w are not made., or we have not received all the information 8nd explanations we require for our audit. Responsibilitles of Trustees As explained more fully in the Statement of Trustees, Responsibilitie5 Statement. the Iruslees (who are also the directors of the charitsble company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair Mew. and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue 88 a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charity or to ase operations. or have no realistic altemalive but lo do so.
Chalke History Trust Independent auditors, report for the year ended 30 November 2024 Audltols responsibilities for tho audit of the financial statoments Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are free from m8leri81 misstalemelll, whether 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 {UKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considerod material if, individually or in th aggregate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these financial slalemenls. Irregularities, Including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detecl material misstatements in respect of irregularities. including fraud. The exlenl to which our procedures are capable of detecting irregularities, 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. W8 gained an understanding ofthe Group and the industy in which the Group operates as part of this assessment lo identify the key laws and regulations affectirkg 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 safety 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 wilh 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 with laws and 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 to continue trading and the risk of material misstatement to the accounts. We also evaluated management's incentives and opportuniknes for fraudulent manipulation of the financial statements. The key incentive identified is lo ensure a good financial position lo meet budgets and we determined that the principal risks were related lo the overslatemenl of profit, either through overstating revenue, underststing expenditure or management bias in accounting estimates. Based on this understanding we designed our audit procedures lo identify rlon-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 could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known inslances of fraud. 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 to identify any possible non compliance. Reviewed Board minutes. Audited the risk of management override of controls. including through testing joumal entries and other adjustrnents for appropriateness. and evaluating the business rationale of significant transactions outside the normal course of business. Reviewed e51imales and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates. 10
Chalke History Trust Independent auditors, report for the year ended 30 November 2024 Audited the risk of fraud in revenue recognition with a focus on completeness of income and treatment of incorne around the year end. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misststemenl in the financial statements. The risk of not delecling a material misslalement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely lo become aware of instances of non-compliance with laws and regulations that afe not closely related lo events and transactions reflected in the financial statoments. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Use of our roport This report is made solely lo the charitable company's members. as a body, in accordance with sectlon 151 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our 8udil work has been undertaken so that we might slate 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 extent permitted by law, we do not accept or assume responsibilty to anyone other than the charity's trustees as a body. for our audit work. for this report, or for the opinions we have formed. Paul Giessler FCA (Senior Statutory Audilorl For and on behalf of PKF Francis Clark, Statutory Audltor Hitchcock House. Hilltop Park. Devizes Road, Salisbury. SP34UF 15 July 2025
Chalke History Trust Consolidated statement of financial activities for the year ended 30 November 2024 Ilncluding Consolidated Income and Expenditure Account} Unrestricted ReslrACted fvnds funds 2024 2024 Total funds 2024 Total funds 2023 Notes Incomg fmm.. Donations and legacies Charitable activities Investment income 31a) 31b} 3{cl 381.246 966,361 1.761 67,000 448,246 320,836 966,361 1,005,885 1,761 814 Total 1.349,368 67,000 1,416,368 1,327,535 Expgndlture on.. Raising funds Charitable activities 1,485,102 28.600 71,570 1.556,672 1,276,939 28.800 30,519 Total 1,513,702 71,570 1,585,272 1,307,458 Net income/(expenditure) resourcos Bgfore tax Tax on activities 1164,334} 11,256} {4,5701 1168,9041 11,2561 20,077 Net Income/{expendiTture) resources after tax and before transfers {165.5901 14.570) 1170,1601 20,077 Transfers beeen funds 16 Net income / (expendlture) and movgment in funds 1165,5901 14,570} 1170,1601 20,077 Reconciliation of funds Total funds brought forward 403,630 6,970 410,600 390,523 Total funds carried forward 238.040 2,400 240,440 410,600 The results for the year deriv8 from continuing activities and there are no other gains or losses other than those shown above. 12
Chalke History Trust company no.08085970 Consolidated and charity balance sheets at 30 November 2023 Consolidaled 2024 Charity Consolidated 2024 2023 Charity 2023 Notes Fixed assets Intangible assets Tangible fixed assets Investments 23,500 7.864 10 11 5,853 5,853 31.364 Current assets Debtors Cash al bank in hand 12 25.559 296,780 29.498 389,742 290,911 381,086 322,339 290,911 419.240 381,086 Crgditors.. amounts falling due within one year 13 187.7521 116.7721 140,0041 115,5791 Net current (liabilities)/assets 234.587 274,139 379,236 365,507 Totsl assets less current liabilities 240,440 274.141 410.600 365,509 Provisions for Ilabllities 15 Net assets 240,440 274,141 410,600 365,509 Funds Restricted funds Unrestricted funds 16 2.400 238.040 2,400 271,741 6,970 403.630 6,970 358,539 Total charity funds 240.440 274,141 410.600 365,509 These financial ststemenls were approved by the Trustees on behalf by.. and signed on their P.E. Bell Chairman 13
Chalke History Trust company no. 8085970 Consolidated cash flow statement at 30 November 2024 Year end8d Year ended 30 30 November November 2024 2023 Notes Net cash Inflow /(oulnow) from operating activities includlng grants receivable 19{al 194,723) 28.078 Cash outllow from inwestlng actlvltles Purchase of fixed assets Proceeds on sale of tangible fixed assets Interest received 16861 200 814 1,761 1,761 328 In¢reas61(d&crease) in cash and cash equlvalents 192.9621 28,406 Cash and cash equivalents at 30 November 202312022 389,742 361.336 Cash and cash equivalents at 30 November 202412023 191bl 296.780 389.742 14
Chalke History Trust Notes to the financial statements forthe year ended 30 November 2024 Accounting policies Consbtulion The Charity is a cornpany limited 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 mernber of the Charity. The registered office is shown in Reference and Administrative details in the trustees. report. Aeeounting conventlon The charity conslilules a public benefit entity as defined by FRS 102. The fin8nci81 ststements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applic8ble lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 20118nd the Companies Act 2006. The accounts are prepared on a going concem basis under the historical cost convention and In accordance with applicable accounting standards. The presentational and functional currency of Chalke History Trust is considered to be pounds sterfing because that is the currency of the primary econornic environment in which the company operates. The accounts have been rounded lo the nearest £. Chalke History Trust meets the definition of a public benefit entity under FRS 102. Bèsls of consolidation These financial statements consolidate the results of the charity and ils wholly-owned subsidiaries Chalke History Festivals Limited and CV Schools History Festival Limited on a line by line basis. The registered office of t)olh subsidiaries is Alexandra House. St Johns Street. Salisbury, Wiltshire, SP12SB. The charity has taken advantsge of the exemption contained within 408 of the Companies Act 2006 not to present ils own Income and Expenditure Account. The net decrease in funds lor the individual charity was £91.368. 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 transactns. balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full. Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. 15
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 1. Accounting policies (continued) Golng concèrn Planning for future festivals remains challenging in light of the inflationary environment and the consequent macro-economic uncertainties, but the directors of Chalke History Festivals Limited and the Trustees are mindful of ensuring th81 the Trust's and Chalke History Festivals Limiled's resources are deployed prudently lo ensure the longevity of the important cultural institutions that the Chalke History Festivals have become alld to ensure that the objects of the trust are fukfilled. The trustees have been encouraged by the success of the festivals operated in 2024 and the potential lo attract larger audiences and a wider sponsor base in the future. In view of the support of our donors and the prudent level of financial reserves in the Trust. the trustees are confident that the Trust and the wider group can continue to operate as a going concern. Critical accountlng Judg•m•nts and key sources of estimation un¢ertointy There are no key sources of estimation uncertainty or judgements used in the prep8ralion of these accounts. rangible fixed assets and depmelatlon All categories of tangible fixed assets are capitalised at 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 7 years straight line Intangible fixed assots and #Mo5abon Intangible assets are slated al cost less accumulated amortisation and accumulated impairment losses. Amortisation is provided on intangible assets so as to write off the cost less any estimated residual value, over their useful life as follows.. Asset Class Website development Amortisation melhod and rate 4 years straight line Investmenls Fixed asset investments represent investments in subsidiary companies and are recorded at cost. Governance Gosts Governance costs are those incurred in connection with the str8legic management of the charity and compliance with slatulory requirements. Fund accountlng Unreslricled income funds are general funds that are available for use at the Iruslees, discretion in furtherance of the general objectives of the charity- Restricted funds are those which musl be used in accordance with specrfic restrictions imposed by the donors or which have been raised by the charity for particular purposes. 16
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 Accounting pollcies (continued) Incoming resources All incoming resources becoming available lo 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 to the running of the festivals (including lickel sales, sponsorship and advertising, commissions and concessions} is recognised, nel ofvalue added tax where applicable, in the period in which the event to which it relates takes place. Any income received in advance, for example from sponsors, is recorded as deferred income to the extent that the service has not yet been delivered. R•sources 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 reasonable and consistent basis. Grants payable are payments made lo third parties in the furtherance of the charitsble objectives. Where the charity gives a grant with conditions for ils payment being a specific level of SeiCe or output lo be provided. such grants are only recognised in the SOFA once the recipient of the grant has provided the specific service or oulpul. Grants payable without p6rfomiance conditions are only recognised in the accounts when a commitment has been made and there are no conditions lo be met relating lo the grantwhich remain in the control of the charity. Provisions for grants are made when the intention to make a grant has been communicated lo the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Volunteer and othor donated 5erviTces The value of s8rvices provided by volunteers is not incorporated into these financi81 st8tements. Taxstion Income tax expense represents the sum of the current 18x currently payable and deferred tax. Tax is recognised in profit or loss, except that a change attributable lo an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of lax r8les and 18WS that have been enacted or substantively enacted by the reporting dale in the countries where the company operates and generates taxable income. Deferred tax is rewgnised in respect of all liming differences that have originated bul not reversed al the balance sheet dale where transactions or events have occurred at that date that will result in an oblig8tion lo pay more, or a right to pay less or to receive more. tax. Operatlng leases Rentals payable under operating leases are charged in the profil and loss account on a straight line basis over the lease lemi. 17
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 Net incoming l {outgoing) resources for the year This is stated after charging.. Group Charlty 2024 2023 2024 2023 Depreciation, impaimient amortisation and 25,551 14.031 Audilorfs remuneration 11,000 10,500 11,000 10.500 Operating leases 7.020 7.020 3. Income (a) Voluntary income Unreslrict&d Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations and grants 381.246 67.000 448,246 320.836 381.246 67,000 448.246 320,836 (b) Incom• from charitable activities Unr8Stricted Restricted funds fvnds 2024 2024 Total funds 2024 Total funds 2023 Ticket sales Sponsorship and advertising Concessions Membership fees Bar income Other income 552,895 229.433 74,823 55,470 20.175 33,565 552,895 229,433 74,823 55,470 20,175 33,565 555.806 309,463 67,137 39,313 15.298 18,868 966,361 966,361 1,005.885 18
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 Income (continued) (c) Investm•ntincome Unrestricted Restricfed funds funds 2024 2024 Total funds 2024 Total funds 2023 Interest receivable 1,761 1,761 814 1,761 1,761 814 Expenditure- Charitable activities Unresfricted Restricted fvnds funds 2024 2024 Total funds 2024 Total fund 2023 Grants paid Admin costs- governance related . 6.930 21.670 6.930 21,670 13,986 16,533 28.600 28.600 30.519 2024 2023 {"} Support costs- governance related include Aud&tors' r8muneralion accountancy fees audit fees Legal and professional fees Office expenses Trade subscriptions Insurance Travel & subsistence Bank charges and interest 5.528 11.000 3.657 565 269 3.831 10,500 769 535 181 259 75 383 328 323 21,670 16.533 5. Grants to instltutlons Charity Name of institution Activtty Chalke History Festivals Limf(e¢Y CV Schools History Festival Limited Historical education 512,450 Historical education 16,600 528.050 19
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 Net expenditure from trading activities of subsidiaries Chalke History Trust had two subsidiary companies during the period ended 30 November 2024 details of which are given in note 11. Chalke 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 2024 Year 2023 Tumover Cost of sales 1,579,023 11,140,261) 1,339,838 1997,4831 Gross profit 438,762 342,355 Administrative expenses Other operating income 1503.8231 1,953 1342.364} 450 Operating profit l{Ios5) 163.1081 441 Interest receivable Interest payable 572 Profil before taxation 162,5361 441 Taxation 11.256) Profit in year {63,7921 441 7. Staff numbers and costs The average number of staff employed during the year in the Trust group was as follows.. 2024 No. 2023 No. Management and administration Event staff 18 17 The aggregate payroll costs of these persons were as follows.. 2024 2023 Wages and salaries Social security costs Pension costs 260.866 15,396 6,067 215.836 11,611 5,171 282,329 232,618 20
Chalke History Trust Notes to the financial statements for the year ended 30 Noygmber 2024 7. Staff numbers and costs (continued) The Key Management Personnel of the group comprise the Trustees of Chalke History Trust. there were no emoluments paid to the Trustees in their capacity as trustees. No Iruslee was paid in 2024 12023 £6,250) in their capacity as 8 director of Chalke History Festivals Limited, as approved by the Charity Commission. No employee received remuneration amounting to mor8 than £60.000 in either year. Four trustees received reimbursed travel and subsistence expenses of £62412023 £nill during the year. 8. Taxation Chalke History Trust is a registered charity and is exempl from taxation on ils income and capital gains. The trading subsidiaries pay corporation tax on their trading profits. The consolidated lax charge has been shown below. Tax chargedl{creditedl in the income and expenditure account 2024 2023 Current taxatlon UK corporation 18X UK corporation tax loveryunder provision in previous year 1,256 Deferred taxation Arising from origination and roversal of liming differences Tax expellse 1.256 The lax on profit before tax for the year is higher than the standard rale of corporation tax in the UK {2023 - lower than the standard rale of corporation tax in the UK) of 25%12023- 23.01 Yol. The drfferences are reconciled below.. 2024 2023 Nel incoming resources before lax 1168.9041 20,077 Corporation lax at standard rale 142.2271 Effect of income exempt from tsxalion {112,3581 Effect of expense not deductible in delemiining taxable profit Itax lossl 135,538 Relief on losses carried forward Overprovision in prior year Deferred tax not recognised 4.619 173.9841 69,581 12161 1.256 19,047 Tax (income)/expense 1,256 21
Chalke History Trust Notes to the financial statements forthe year ended 30 November 2024 Intangible fixed assets Consolidated Website Development Cost At 1 December 2023 47,000 Additions Disposals AI 30 November 2024 47,000 Accumulated amortisation At 1 DecerTrber 2023 Charge for the year Impairment 23,500 11.750 11.750 At 30 November 2024 47,000 Net book value AI 30 November 2024 At 30 November 2023 23,500 Amortisalion of £11,75012023 £11,750) is included in raising funds. Impairment of £11,75012023 £nill is included in raising funds. 22
Chalke History Trust Notes to the financial statements for the yoar ondod 30 November 2024 10. Tangible fixed assets Consolidated Fumiture, fittings and equlpment Cost Al 1 December 2023 25,155 Additions Disposals At 30 November 2024 25,155 Accumulated depreclatlon At 1 December 2023 17.291 2,011 Charge for the year Eliminated on disposals At 30 November 2024 19,302 Ngt book value At 30 November 2024 5.853 At 30 November 2023 7.864 23
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 11. Fixed asset investmenls Investments are dassified as follows.. Consolidated 2024 Charity Consolidated 2024 2023 Charity 2023 Fixed asset investments Subsidiary undettsklngs Company Namè Country of Incorporation Principal aetivlty Class Pefcentsge shareholding Chalke History Fèstivals Limited England and Wales Provision of history feSValS to the general public Ordinary £1 100% CV Schools History Festival Limltad England and Wales Provislon of history festivals lo schools Ordinary £1 100% Pr(>fiVILossl for 2024 Capital gnd re88rv8s Ch81ke History Festivals LlmSted CV Schools History FestlV81 Limit8d 122.3181 {60,7621 111,3811 13,0301 12. Debtors Consolidated Total 2024 Chanty Consolidated Total Total 2024 2023 Charity Total 2023 Trade debtors Prepayments and accnjed income Other debtors 9,710 13,584 2,265 18,947 10,550 25,559 29,498 24
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 13. Creditor5: amounts falling due within one year Consolidated Total 2024 Charity Consolidated Total Total 2024 2023 Charity rotal 2023 Trade creditors other lax and soci81 security AceTuals and deferred income Corporation tax Other creditors 2,568 6.919 76,766 572 16.131 1.566 21,122 79 16,200 15.500 1.499 1,185 87,752 16,772 40,004 15.579 14. Deferred income Consolid81ed Deferred income Total 2024 Total 2023 2024 Balance al 1 December 2023 Received during the period Released during the period 2,737 57,291 12,7371 2,737 10,643 57,291 2,737 12,737) 110,6431 Balance as at 30 November 2024 57.291 57,291 2,737 At the balance sheet dale the group was holding funds received in advance for membership for the new financial year. 15. Provisions for Ilabllltles Consolidated Deferred tax 2024 Tolal 2024 Total 2023 Balance 8t 1 December 2023 Increaselldecreasel in provisions Balance as at 30 November 2024 25
Chalke History Trust Notes to the financial statements for the year ended 30 November 2024 16. Restricted funds Balance B/Fwd 2024 Transfer fmm Income Expenditure unrestricled BalarRce C/Fwd 2024 Foyle donAtion Calleva Foundation Chilton Foundation 6.970 14,570} 147,0001 120,000} 2,400 47.000 20,000 6,970 67,000 171.5701 2,400 17. Analysis of group net assets between funds Unr8Strictsd funds Restricted funds Total funds Fund balances at 30 November 2024 are represented by.. Fixed assets Nel current assetsllliabililiesl 5,853 232,187 5,853 234,587 2.400 Total net assets 238,040 2,400 240,440 Unrestricted funds Restrict8d funds Total funds Fund balances 8t 30 November 2023 are represented by.. Fixed asset5 Net current assetsllliabililiesl 31,364 372,266 31,364 379.236 6.970 Total net assets 403.630 6,970 410.600 18. Financial commitments At 30 November 2024, the group had lolal financial commitments under no[}ancelIable operating leases as set out below.. 2024 2023 Payable one year 26
Chalke History Trust Notes to the financial statements for the yearended 30 November 2024 19. Notes to the cash flow statement (a) Reconclliatffon of net movementffln funds to net cash flow from opèratlng aellvltles.. 2024 2023 Net incomellloss} for the period before transfers Ilncreasel l Decrease in debtors Increase I IDecreasel in creditors Depreciation. amortisation and impairment Interest receivable Loss on disposal Tax expense {170,1601 20.077 2,683 116,686} 47,748 11,327 25,511 14,031 11.7611 1814} 143 1,256 Cash generated from operation5 194,7231 28,078 Tax paid Net cash inflow from operating activities 194,7231 28,078 (bj Analysis of cash and cash equlvalents Group Ye8r end&d Year ended 30 Novernber 30 November 2024 2023 Cash al bank and in hand 296.780 389.742 296.780 389.742 Analysis of net funds l December 2023 Cash 30 November flow 2024 Cash at bank and in hand 389.742 192.9621 296,780 Nel debt 389.742 192,9621 296,780 l December 2022 Cash 30 November flow 2023 Cash al bank and in hand 361,336 28.406 389.742 Net debt 361.336 28,406 389,742 27
Chalke History Trust Notes to the financial statements for the year ended 30 Novfjmber 2024 20. Movement in funds The movement in funds, during the year. for the group and Charity were as follows- Consolidated 2024 Ch8rity Consolidated Charity 2024 2023 2023 Net movement in funds Fund balances brought foThvard 1170,1601 191.3681 410,600 365,509 20.077 27,132 390.523 338.377 Fund balances carried forward 240,440 274,141 410.600 365,509 The results for the year derive from continuing activities 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 lo ensure that in each instance the rolalionship is not material enough to unduly influenc8 either party, that the relal6d party has the necessary skills and expertise to deliver the service. During the year, restricted donations from Trustees lo the Trust were £nil12023'. £nill. During year the company paid £45012023.. £nill to an entity controlled by T Pastor (Trustee) for 8 promotional film for the website. The balance owed at year end was £nil {2023.' £nill. 28