WILTSHIRE AND DORSET DEAF AND HARD OF HEARING CHURCHES TRUST (Rgglstered Charlty Nunknr 11517091 REPORT OF THE TRUSTEES AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ONTEMTS Pa Tru5te85' Rep¢ Stskment of Financial Activitses and Balar8 Sheet Notes lo the Acojunts Independent Examinerfs Rgport
WILTSHIRE AND DORSET DEAF AND PIARD OF HEARING CHURCHES TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEhlBER 2023 LEGAL STATUS Th8 Trust 15 8 registered charlty. numb&r 1151709, and Is govemed by its Constitution. dated 9 November 2012. It merged th thg Salisbury Diocesan Doaf Asso(xation, Iregislered charity number 2006071, which was MoVed from register ol chat1$ on 20 December 2013.11$ property having b98n transferred to the now charity on 2 December 2013. HON PRESIDENT The Blshop of Salisbury lex-offldol TRUSTEES The following. collectivoly referred to 8$ the Commrttfje ol Managwnenl, serv&J as th Trusfs trustees during the year and to d8te'. Th8 Rl Rev K Gyham Mrs K L6ad8r The Bi%hc4) of Sherbome. nominated Chalmwn {COPted, Wittshirel Isallsbury D8F He8d of Financè. &x-Off10 trustee> Isallsbury D8F Hèad of Flnancg. &X-officio trustee) IC¢>optsd) ICowOPted, Dors•tl Mr N Jenner The Ven A M8cRow-Wood Mr P MusSehrte Mrs S Futcher from Sep 2022 to Jan 2023 from Fob 2023 from May 2023 The trustees cL¥nprb5e 8 nomlnated Chaiman appointed by the Prgsldent of the Trust . on& other nominated trust88. four ¢Tropted trStee$ and or 8x-offloo tW8lee. The Sallsbury Diocesan Board of Flnance is custodlan trusteo of the Charlty. CLERK TO THE TRUSTEES Mi55 C John5cn, Emmaus House, The Avenue. Wllton. SP2 OFG ADVISERS In¢Jep8ndent Exanlner Sgll¢itors.' Investment ManAggr8.' Mr8 N A Halls FCA, Fletcher & Partners, Bridge Stre8t. Salistwry SP12LZ Wllsons, Alexandra House. St Johns Street, Salisbury SP12SB CCLA Investment Managemènt Ltd. One Ang81 Lanè, Londcm, EC4R 3AB M&G Invostrnont ManwJement Ltd. Victorla Road. Chelmsford CM1 1FB OBJECTS AND ACTivrriES The obp¢ls of the Trust are to assist in every way possiblg spiritu81, moral, 8ducatkJnal an¢J physul needs of deaf and hard of haarlng people within th¥ Dio¢e5e of Salisbury and the Daanery of Swindon in the Dlocesg of 8Aslol and to prornote greater awareness of deafness and hearing impairment. The Trust pvrsu8s ts objects by policles Df fundkng.. Siw laTrJuag8 interpreted church servkes for thf pW: Deaf Chaplalns. lo care for tha splrf(tJal, Thra1, educational and physical needs of deaf and hgrd of hearfng people.. Sallsbury Llpreade The Trust is managed by the Commbttee of Management which Is abo the trustso btsjy. Although il Incurs s(Yne limited direct ¢harftsblg expendfture itsèlf. the Trust essentially fvIfiL8 its charflable purpos8 by orant aiding organisatK)ns whlth support deaf and hard of hgaring pwlè or otherwisa buwng in services for thls purp)se. Tho Trust's financi81 recA)rds ar8 maints1nI by the staff of the Salisbury De$an Offic8. Th6 tru8tees have compli8d wlth their duty to have due regar¢J to the guidanee on publk ts9fil wblished by the Char Comm6s*tsn In $x8r¢ising th8ir powers or dub'es.
WILTSHIRE AND DORSET DEAF AND HARD OF HEARING CHURCHES TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 {contSnuodl ACHIEVEMENTS AND PERFORMANCE In 2020 the Tnjst purchased a prop8ty In Salisbury fc use of the Deaf Chaplaln. In 2023 the Twst Incurred £2,665 expenditure on repairs to this propety (2022.. £8801. A grant of £8.)0 (2022- £7.0) syas giv8n to the Diocese of Brlstol for deaf chaaIn¢Y work In the Deanery of Sn()n and £42,43212022- £41,154} lo the Diocese of Salisbury for the exnSeS IncUTh in supportlng a D$af Chaplain in Ihe Diocese. Deaf Angltans Together £50012022.. £5001. BSL B)18 tr8nsl81ion proj8Ct £1.00012022.. £1,000}. FINANCIAL REVIEW The Trust's incLJme totalled £74,321 12022- £68,919). This is primarily invèstrnent income. Charitable expendlture totslled £57,11212022- £54,790}. There is therèfor8 A surplus of £17.20912022- surplus of £14.1291. Invesbnenls recovered some of 1h8 wevious year losses- there was an unrealis8d galn of £133.515 I2022- unrealised Ic6s of £241.7401. At the year end the Trust's funds totallod £2.449,936 {2022= £2.299.2121. RESERVES POLICY The TnJ5fs policy is to maintsin its asseis 81 the present18vel so as to generate an in¢(e In fure years to support lis obj. The free re$8rves at the year erKI were £2.127,485. INVESTMENT POUCY The Trust's policy is to invest its èvailablo funds, indudirg monl8s on deFthit, through CCLA Inv881ment ManagBTrt Lld's CBF Church of England Funds and M&G Investrnenl Management's Charwund. These are both commn Investmgnt funds speaficslly &stalshod and regulabJ to [0VIde inv$stm8nt vehicles for charitable funds. RISKS REVIEW The Irusle85 cowlder that Ihe Trust5 onty $lgnificant risk is a total ¢ollapse of stoc markets, whth they have mitigatay by pleclng a proportion ofthe Charlty'3 inve#tments in a property fund and a global ¥quitie8 fund. TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees ere re8pM)nsible for preparing the Tnjstees. Annual Rewrt and the finarrial ststemenls in aGGordan¢e vllh appllcable law and Unrted Kingdom Accounng Sland8rd$ (United ngdoM Gonerally ArpIed Accounthng Prad¢g1. Th law applicabk to charlties In England arKI Wales wuiros thtr Charity trustees to prepartr financ4al Statn8ftts for each year whlch glvg a true and falr vlew of the stste of affairn of the Charity ané of the incoming resources and applicatM)n r)f resources. Of the Charlty for that perlod. In pr8parlr¥J the financial statements. the TNstees are required to: select suitable accoUnng policles and then apply them consSstenUy', observe th8 mgthods and prIlpleS In the Charities SORP- mak&lu(Igernenls and estimates that arè reasonable and prudent., state whether applicable ac¢ounting standards have been followed, subject to any rnat8rk81 departures that musl be disdosed and gxplained in the flnanaol statements- prepare the financial statemen15 on ts gokng concem basis unless11 is Inappropriate lo presums that the Charity V11 ¢Mtinue in business. Trustees are responsiblè for keeping prop8r acwunting records that dlsdose with reasonable accuwy at any Ime the financial poshion ofthe charity and ènable them to ensur8 that the financial statgmgnts comply with the Chartues Act 2011, the applicable chare8 (Acwunts and Reports} Regulations. and the provisK•ns of th8 Charitls schemes. Thgy are also restK)nsible for safegu8r(ling tha assets of the ¢h8rfjty and taking reasonablè steps for the prenI1¢ and deteclion of fraud and other irr8gularitle& Th8 trus¢ees aro responsible for th& m8intenanc8 and integrfty of the ¢h8rity and finanaal Information includgd on the chariV5 website in a¢oydan( wlh *Islath In the Unlted lfjngdom governlng the preparation 8nd dlsseminatKJn of finan(yal ststgments. Signed on behalf of the Trusts9$ Rt Rav K Gorham Approved by the Trtea$ 24.10.L
WILTSHIRE AND OORSET DEAFAND HARO OF HEARING CHURCHES TRUST (Registered Charlty No. 11517091 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Totsl Unr851ricted Unrestricted 2023 2022 INCOME FROM: Donat)nS and IwJa&es Donations 75 75 125 125 Investments Dmdends Interest on $h deposlts 67.888 6.358 74.246 67,166 68.794 YOTAL INCOME 74.321 68,919 EXPENDITURE ON: Charitable activ85 Grants poyab18 Repairn b) ChapL4in'$ House TOTAL EXPENDITURE 54,447 2,665 53,910 57,112 54.7 NET INCOMEEXPENDITURE BEFORE NET GNSI(LO$SES} ON INVESTMENTS 17209 14.129 Net gainsllk)s6esl on investments NET MOVEMENT IN FUNDS 133.515 1241.7401 { 227,6111 150,724 RECONCILIATION IN FUNDS: Total funds trjroughl fomard Tolal funds tarnred I0rd 2,299,211 2.526.822 £ 2,449,936 £ 2.299.211 BALANCE SHEET AT 31 DECEMBER 2023 Unrestricted Fun Unfvstrict8d Funds 22 Note FIXED A%%ETS: Tawible Assets Investments Listed Invesknent5 322.451 322.451 1.985,062 2,307,513 1,851,548 2,173,997 CURRENT A88ETS: C8$h at bank and in h8nd C8F Deposit Fun Cash held by Salisbury DBF 155.646 8.824 f64.470 132.377 138.109 Dèbtors AccNed Inco 1,972 166,442 138,109 ulLITEs. cred110.. anTh)unts fallro w6thin one ar 124,019 112,8951 NET CURRENT ASSETS OR LLA8ILITIE$ TOT NET ASSETS OR UABILITIES 142,423 125.214 £ 2,449 936 £ 2.299 211 THE FUNDS OF THE cHilTy.. Unfostricted funds £ 2,449 936 £ 2299211 The88 financi81 statements were ppT¢)ved by the Trustees on 8KJn on th•ir behalf by.. and . Twstee TheRtRovK rham Thg noles on pages 4 to 6 form part of Ihese aCc(Kts
wILL1ftE AND DORSET DEAF AMD HARD OF HÉARING CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng Polkl a) Aeeounlin rA)nventK)n The accounts lfin8nu81 $¢atgmentsl aro prapsred under the hi8tra1 cost convenlion wlth items roeogni8ed at cosl or transadkn value ¢Jnless otherws8 8tsted in the relevant notes to these aco)unts. Thè financial statements hav8 bee prepared Tn accord8n¢e with the Ststemfrnl of Rewmm&nded Practke.. Aeeountlng and Reporr) by Charities yeparing thelr Aethunts in COrdanCE wrth th• Finarri81 Reportln9 Standard applic8We in the UK and Republic of Irekqnd IFRS 1021 gffgdive 1M 1 January 2019. the Finala1 Reporting starard applicab in the Unftad Klngdom and Republic of Ireland IFRS 10218nd the Charfties Ael 2011. Charity wnstitutes a public b9nefft enlty as defined by FRS I2. iw5tee3 conskler that there are no rnatsrial uncertainues about thg Chartys abilty to Cnt(Thue 8$ a fjog corrtem. T most signrficant area ol judgem8nt that 8ffetts ittims in the ants Ss to do with estirnating the reshlual valuè of thg I[eehd propewty Is88 rKtrte 1hl. Wfth respect to the next reporting pemd. thè ar ènded 31 December 2024, the most Signiknnt are8s of UnrtaInty that affeLI catyng valuè of assets held by the Chaiity ar• the lèvèl of investmeTrt retum 8nd the perfomancè ol investment markets. bl Cash llow The 8¢)x¥Jnts do t indude a cash now stat8rn•nt b$9 the Charity, as B small rgporting 8ntty, 16 èxempt Irom the iequtr8ment to prepare sud) a stat&menl. cl FuThJ acc(wJntin Unrestricted funds are avall8ble for use 81 the of th& truste95 in hjrtherance of th& gengral obleclives of tha charity and have Mt beon desvJnatod for othar purpc)58S. dl Inwne roco Itbn All inwrne is r8COgntsed once the thartty has 8ntrtlem8nt to the Income, there Is Sufficlent certalnty of reIt so it is probab that the incom8 wil be rece. aNI the amunt of inrAyne recelvabla can be measurgd reliabty. Inrne from investments k¥ induded in the year In which it is receivable. ilLe c0 nitSon Liabilitles arè rathgntsed as experture as soon as there is a legal or eonstructiV8 obligation the charity to the expenditur8. it is probabl8 that sethement wlll be Uired and thè amount of Ihe oblbation can bs reliably. Al expeThJiture Is aecounted for on 8n accruals basis. Gr8nls payable a d)Èrged when the offer is ty)nveyed to the recpient, excépt in Ihose ca¥gs tho offor Os condib"onal, Sn whth c88e the grant would b6 rocwisgd 88 txpendilure when thè conditv)n$ attachi are bJffilkd. fj charttate activit18S Comprise grant$ madg to 0rgi8atk1nS plus suppcrt costs, arKI rnodast diract charitabk InItlVes. ort SupFOrt costs have boen dtff8r8ntiated betrfftn governants eost8 and other support rthts. Govemance costs compn"s• of all cc6ts invoMrvJ th8 publ1¢ aCCota)S11ty of tho ¢harity and its wmpli8rt0 with r8gukqtion and gwd practiee. The otsl SUPFQrt costs are allcKated eoualFy between th8 grant recipients for th$ year. ible fixed assèts Freeho Fre8h0 property is carr at eost. No depreciat#)n is provKJad Ès the estimated resldual valua ol th¢ property is ludg8d to be not L8SS than its carrying v81ue and the remÈlnlrtg usefvl life of the asset cJJrrentty exceeds 50 years. Th• prop8rty ' malntainad in sK)rAI conditbn by Cffitinual wLwJramrne ol repairs and malntenancg. tharoed to the SOFA. 11 F 8&8et invernents Llslgd imiestfflenls ar8 Statsd at markel value as at ts balan¢8 Bhe8t date. The Statemgnt of Financkil Actmtiès includes thè n8t gains 8nd losw arising on rwvalLWtK)n WKI disposals throu9lw)ut tho Or. 11 Realisgd ains and k)sses All gains arKI 105585 are tsken to the Ststemant of Finandal ActwI¢S 8$ they Arlse. R8alised gains and lo$ on Investments Ère c8lcul8ted as the drff•rnce b8hveen saks pr(teed5 and opening Market value Ipurch8se dat9 rf later). Unrea118ed gains and k)sses are calculated as the dlenCe between the m3rk8t value at the y&ar snd and openino maiket value lor pur¢ha* date if later). Realls and unrealisod gains 8r¢ not separated In the Statèrn8nt of Finaroal ACtItS. kl Cash at bank and in hand Cash 8t bank aThY in hand Indudès tssh on derm)t a¥alatA8 on d8maTrJ and cash held by Salisbury DicKesan Board of FInan. reditors Creditors arg r¢¢ognLsed bvhere th• ch81ity h¥$ a Present obllgatlon resumlry from a past event that wlll probabty resu in the transfer of funds to a thlrd party and the amount due Io 58tt18 obligation can be measured raliabty. Credltors aro nom)alty recogntsed at thar settlement amount.
WILTSHIRE AND DORSET DEAF AND HARD OF HEARING CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 ml Financial Instruments Flxed asset investments are a fonn of basic financSal in$trurnenl and are inthally 18ciyJnised at their transactlon o)sl and subsequenlty measured at fotr value at the BalanrE sheet date. Investment gains and kJss8s, wh8ther realised or UnalISed, ar8 ¢7b[neIl and slwn in the heading 'Net 98lnslllo55es) on investments, In thè Ststement of FinancSal A111. Ct of thaiitabl• actlvlt Grants (Note 31 Gronts to organi88tions Salisbury Diocese- for deaf Cha01¢Y Bilstol DI0( - for deaf Cha8 Sali3bury Lipreaders BSL Bible Translation proje¢t Deaf Anglicans To9ether 42,432 629 43.061 8.629 41,705 7,551 2,051 1,551 1,051 53,910 1.QIX) 629 500 629 51,932 £ 2.515 £ SuFVOrt cx)sts are 8110¢8ted 6yually behveen the grant rp[ents the year. 1,629 1,129 54,447 Support Costs costs C18rk's salary ¢osts DBF chargès for servicay office a)mMJaIOn and financial manAyemenl Trustees, and Clerk'g expense8 Admin Slaff & Speaker$ 8xp6nses lThJeFendent examinerf$ fe8S 628 817 628 817 606 899 22 193 1,070 TANGraLE ASSETS Freehold Pro Cost or valuaiion At 1 January 2023 At 31 Decemb 2023 322.451 322,451 322.451 Net Bc¥Jk Valu8 At 31 De¢ember 2023 322,451 322,451 At 31 L)ecember 2022 322,451 322,451 One PrOrty in Salisbury was purlSed in June 2020 for 8ttommodation of a Deaf Ch8plaii.
IVILTSHIRE ANO OORSET DEAF AND HARD OF HEARING CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 DecEPA8ER2023 Fix¢d 8•¥et inV•8lm8nts- Li•ted Inv•Jtment•. UnrestrrGt•d fwids MortetV8lu8at l J8nUary Galn Ilkissl in the Market vahje at 31 Decter 1.e51.547 133,515 £ 1985L2 2,D93286 241.740 £ 1851547 HLsb)ri¢al thst * 31 De¢ber £ 969616 Unwloed at 31 L8mLw20rJ £ 1015446 £ 881931 l the Trusts inv8slm8rts herd in c>Jmmcfi inveslmant lunds managBd by CCLA Inv85tw¢nt monog0ml Ltd M&G IntMents. The rnain rl$k tts t Ch8rftyfrom fmanaal i[thents 18s In Ihe ¢ombinatian of rKertn IThv8sbmÈ rTrkets and vclaOIIty In ekj. ThoTw6fs investmth0)dIrffjs. with v8bJ8S. 81 the baLryll sheetdate were a8 f.. 20 37,961.74 C8F Inve5trrrt FuTrl shwes 12022- 37,1.74 Shares) 214.920.02 C8F Prcw Fd 8h8re8 12022- 214,¥20. $horF8} 199,404.29 CBF Glcbef Eqiity lfvxme Fu1 $h8r 12022- 199,404.291 18,134.408 M&G Charrfund ¥lYres 12W22- 18,134.4081 858.137 42.3% 783,754 13)% 263,2 14S% 276,172 30.4% 3.397 26.4% 525.131 13.1¥ 260.229 14.4% 2fA3.489 1ty).0% 1.851546 ¢h held by Sa118bury Dfoceun 8oord of Flnanc• The Charity does not hold a bank account hs namg. Bankg facilknes operated 1hroh a gnthd Trusts ttx)unt hdd In the name of SalisbLry &oc8S8n B08ftJ of FiMrKe 8 C8F DeFosM Fund. Cr•dltv•.' arnounts falllng due wlthln ono year Trath credftor8 Accruals ftygrants p8yat4e 8Is 8n¢ ¢efened inwme 1,070 11,C68 757 20.292 3.727 Movefflent In fldI ¢ommitment8 for grabtt& the year ant cornm1$ recognised as 811 January Naw grant (tsvmitments charged to th? SOFA In year (see Note 21 Grants paid during the year ¢>ant corNthnts reccgnts8d as at 31 Oecerrthr21Y231888 Note 71 2022 11.068 51.932 42.707 12,4 51,154 Relatsd party tron$•dlon¥, tru8ts88' 0xp9m and remun8ratlon and key manag¢m¢nt Pernnel The ¢Onde its key m8nèJemwt trsonn81 ccnpise the trustees arKJ the derk. No trustee5 receivj r8lmbursemenl for e)wses ring Ihe year 12022- £nill.Th8 c18rk r8colv4d a sabry ol £V2812022- £6061. Th& ¢hanty h no othÈrr¢lalod party tr4n6acbNs duriry the year12022- nill 10. Flnan¢lal InsiFumen¢B No FInd81 a888ts m8wroO atfak vahje profil arK1106S: Inve51rn8nts held 8tf8iry81ue £ 1985062 £ 1851547 Incc#ne. ewise. w'rA orbs88s, irKJthng th8we5 in fair ¥akn8, rer¥Jgnls&J on.. GansllLossesl on FinancaBI as98ls rneawred 8t f8ir v4ue Interasl on (*8h depD5itS IoM8 li%ted inv8simwts 133.515 6,358 67,888 £207 761 1241.7401 1.628
WILT8HIREJID IX>R8Ef DW ANO 114RD OF HEJIINQ CHUR¢HE8 TRUIT 114DEPENDEpif WNEif6 REPORTTO ThE TRiISTEE8 FOR THE YEAR EIIDEO 31 WEIIBER JJR3 I wort lo lh• tr11•¥ on my exTmkngtkn 011k Actowrte oftr WUl8hlr• DaT8Qt Degl pl cA)ur0 Tr1 Tru) for trtsyoar •nded 31 Doc•mb8r>J23. whkh Ar• 8•t outvn paw8 8 toe. RwnibNltl•J ond b•l• ofreport A8 d)aity buste85 oythe fnt yau pr• fortho pkDpttMtlor orwurts th• rqqulr•ments Of ChgrflBAd 2011 Ilh• Act). I r•kMxt h rnw8Ot rf.rny •¥•mlth d th• Ttw#¢a •(wmts eaff11 out 145 of the 2011 A¢1 al In rTykv4 out My oxAmlnAtkn I hJyD fth•S au tho 8ppiknWg ghn by Ih Chwly undor 8(Iton 145¢5llb) of the A( l g)nW8ted my ox&rfn•lh)n. l eonTrm n¢ mat•rtd tr4vo to my att•r In 4x>nrnrtkn wlth tr rne thal kn jny metorfal w•8 l. r•LJxdB oe roqutrod byJlLn 130 oflh0A¢ cf l .the ac>)unts rth wfth r•¢¢r¢k', or tho 0U fk> not oc•Mpty V41th Iho appW¢W rnquhm•nts cor#xrning fcm rontsnt 8Otwt In Ih#Ch8fttss and Reports) Pooulthng 08 otherihkn any V*tth8 ge1>x189• uhj b¢ In thf8 r•ptrt kn ordor to unth¥landlng L4 tho tsg M•Jhod. NA Halt8 Fa4 F1¢hr & CIw7 Chgmbtsnk 8rfdgB Skn•t 8aH8bury