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REGISTERED CHARITY NUMBER: 1158890

5 Audited Financial Statements , for the year ended : 5 31 March 2024 : 4. | for 4Kingswood Chapel Trust 5 4 | J || a 2 7 3 4 Nicklin Audit Limited : a | Chartered Accountants Statutory Auditors * a StourbridgeChurch CourtRoad : Halesowen : 2 West Midlands

|. 4 Kingswood Chapel Trust |

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3 Contents of the Financial Statements for the year ended 31 March 2024

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x ; Report of the Trustees 1 to 5 a Report of the Independent Auditors 6 to 7 J Statement of Financial Activities 8 | Balance Sheet 9 3 Notes to the Financial Statements 10 to 14

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1 Detailed Statement of Financial Activities 45

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j Kingswood Chapel Trust

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|Report of the Trustees | for the year ended 31 March 2024

| The TrusteesTrustees presenthave adoptedtheir reportthe withprovisions the auditedof Accoufina n cialtingstatementsand Reporting of theby CharityCharities:for theStatem year e ntndedof 31RecommendedMarch 2023. ; Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in j the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

| REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number * 4158890

4 | C/OPrincipalVeale Wasbroughaddress Vizards LLP PO Box 3501 | Bristol BS2 2FL ji Trustees Q 1 OJ E Beale (resigned 20.10.23) A Berry fh[|] KM BridgmanL Burns K Jinks 1 JR Kay D J Slade 1 P White (Chair) G Berry 1 Auditors Nicklin Audit Limited ] Chartered Accountants Statutory Auditors J Church Court Stourbridge Road | Halesowen West Midlands 1 B63 3TT Solicitors & Clerk to the Trustees | Veale Wasbrough Vizards LLP PO Box 3501 1 Bristol BS2 2FL | Investment Manager and Adviser | 33EFGGreatHarrisChar Al l dayes Street Birmingham | B3 3NJ 3 Bankers Unity Trust Bank | PlanetaryPO Box 7193Road A W illenhallV1 9DG

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a Kingswood Chapel Trust | Report of the Trustees for the year ended 31 March 2024 a OBJECTIVES AND ACTIVITIES h | Objectives and aims The Trust is managed under the Constitution dated 17 October 2014, as amended by a resolution of the Trustees on 16 : 7 October 2015 and registered by the Charity Commission on 12 November 2015. The Trustees are appointed by fellow Trustees. _ the Chapel provided and maintained is Kingswood Meeting House (‘the Chapel’), 4 The objects of the Trust, as defined by the Constitution, are: a (1) the provision and maintenance of a Chapel and burial ground for use for religious worship in accordance with a the principles of Unitarianism as defined in the constitution of the General Assembly of Unitarian and Free Christian 4 Churches;(2) to assist in the payment of the stipend of the Minister and/or the Assistant Minister and any related expenses of such office; . 2 | (3) to assist in the provision of accommodation for the Minister and/or the Assistant Minister; : (4) to further the religious and other charitable work of the congregation; | (5) if and in so far as the income of the Trust cannot be applied to the objects above it may be applied in i furthering the objects of the Midland Unitarian Association (registered Charity Number 500925) or the General Assembly : 4 of Unitarian and Free Christian Churches (Registered Charity Number 250788), : Significant activities | The Trust supports the work of the Chapel by making funding available towards the stipend of a Minister and the salary of the Lay Assistant to the Congregation, by providing accommodation for them and keeping it in a good state of repair, : | and by carrying out maintenance and repair work as necessary to the fabric of the Chapel buildings. The Chapel and adjacent Parsonage have been Grade 2 Listed since 1999. When appropriate, advice on maintenance Is taken from a 4 qualified conservation bdullding.surveyor. The graveyard and grounds are also maintained by the Trust. Do | The Chapel is open without discrimination to all members of the public and works towards the promotion of religion in | accordancerange of localwithyouththe andprinciplescommunityof Unitarianism.groups as wellThe asschoolroomits own activities.is made Trusteesavailableconsiderby the Congregationthat the Trust'scommitteeactivitiestoarea oo; | q undertaken for the public benefit and have had due regard to guidance issued by the Charity Commission on public a benefit. : a 4 In carrying out its charitable objects, the Trust liaises with the Congregation committee of the Chapel as appropriate : receiving regular reports about activities that they undertake. The Congregation committee members are appointed in i A accordance with their own constitution at an annual general meeting, One of the current Congregation committee is also i a Trustee of Kingswood Chapel Trust. 4 The financial assets of the Trust are held in a nominee account by EFG Harris Allday (EFG), the Trust's financial advisors : | 4 and managers who are appointed on a discretionary basis for the endowment portfollfo. Additional unrestricted funds are : managed by EFG on an advisory basis. An investment sub-committee comprising three trustees usually meets with EFG / 4 twice a year. A report from each meeting is made available to the next available main Trustees’ meeting. ; “ The Trust renews annually a specialist insurance policy to cover both its own activities, the activities of visitors to | Kingswood and to provide building and contents cover. :

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Kingswood Chapel Trust

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Report of the Trustees for the year ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trust's main source of Income remains from its financial investments. This is supplemented by ad hoc income arising from the Trust's management of the graveyard and a small amount of rental income from the two fields adjacent to the graveyard.

The funding to be made available during the following year to support the activities of the Congregation Is reviewed annually at the March meeting for which a budget of income and expenditure is prepared. This also has regard to éashflow bearing in mind the fluctuating nature of the monthly income received from the financial investments,

The policy and basis of charging for the graveyard is kept under review. The graveyard remains open to all but charges for interments vary according to categories, one such category being membership of the Chapel congregation.

Review of Achievements April 2023 to March 2024

The Trust's main expenditure remained grant support towards the costs that the Congregation incur in relation to ministry. There was no Minister in post during the year and so the level of grant support continued to be reduced fram previous years and was niainly to support the salary of the Lay Assistant. The grant payments are made by way of monthly standing order to the Congregation bank account, The position of Minister remains vacant at the present time. The Congregation continue to consider future ministry arrangements. Activities at Kingswood have been steadily recovering since the 2020/21 Covid 19 restrictions / lockdowns.

The Trust continued to make available to the Congregation as living accommodation 2 Packhorse Cottages for use by the Lay Assistant. The Parsonage continues to be occupied under an assured shorthold tenancy in order to maintain occupancy of the Parsonage whilst future ministry arrangements are considered and in order to maintain a presence on site, The Congregation collects the rent. The Trust remains responsible for structural and external repairs, insurance, statutory compliance and the main services.

The grazing licence of the Love Lane field has been renewed for a further 2 years from April 2023 at the same rent. A new 25-year lease of the Bateman’s Green Substation site in Packhorse Lane has been granted to Western Power Distribution at a rent of £50 per annum.

Maintenance contracts remain in place for the main buildings in respect of fire precautions, pest control and heating maintenance as well as a contract for maintenance of the graveyard and grounds supported as necessary by a volunteer group.

Trustees continue to consider whether to make donations to either the Midland Unitarian Association or the General Assembly of Unitarian and Free Christian Churches in accordance with its charitable objects. No donations were made during the year in review,

FINANCIAL REVIEW Reserves policy

It is the policy of the Trust to maintain free reserves of not less than £100,000 forming part of its unrestricted funds to cover the regular outgoings and administration of the Trust. The unrestricted funds are invested alongside the main endowment fund to generate the Income required for the Trust's activities. Trustees are satisfied that if for some reason it became necessary to call on free reserves at short notice it could do so by realising all or part of these unrestricted

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The Trust continues to discuss with the Congregation potential further building improvements to better support the ; community related activities of Kingswood, Planning approval and listed buildings consent were secured in May 2023, There are several years capacity remaining in the graveyard. In planning for the future, the Trust is at the early stages . of considering the feasibility of a graveyard extension. As a first step, a groundwater survey of both the remaining available land in the existing graveyard and also the other potential areas of available land within the Trust’ s ownership : was carried out in February 2022 by a suitably qualified firm to satisfy Environment Agency requirements. The outcome : of the report is considered to be satisfactory both in terms of the existing graveyard and potential extension areas. In addition, the existing graveyard requires repairs to the old boundary wall dividing it from the adjacent Parsonage garden : and at some point repairs to the main graveyard path are likely to be necessary. : In considering the above projects, the Trust will continue to explore the potential availability of grant support alongside : | its own funding resources. STRUCTURE, GOVERNANCE AND MANAGEMENT 7 Governing document The Trust is controlled by its governing document, its Constitution as a Charitable Incorporated Organisation dated 17 poo October 2014 as amended by a resolution of the Trustees on 16 October 2015 and registered by the Charity Commission poo on 12 November 2015. The linked unincorporated charity (1158890-1) is still controlled by the Scheme approved by the BO Charity Commission on 28 December 2008. Po Trustees' meetings are usually held twice a year in March and October. The Constitution requires a minimum of eight Trustees and for a minimum of five Trustees to be present at each meeting to be quorate. Under the terms of the Poy Constitution, Trustees are normally appointed for life. Messrs Veale Wasbrough Vizards (VWV), the Trust's solicitors, continue to provide administrative services to the Trust and to provide ad hoc legal advice as required in connection with Trust policies and its operation generally having regard : to Charity Commission procedures, | The Trust continues to review the appropriateness of its policies and procedures for good good governance. - Recruitment and appointment of new new Trustees : Any new Trustees are provided with literature outlining their responsibilities together with a copy of the Constitution and Bo of the Trust's latest report and financial statements, and they are briefed through introductory meetings about the oe organisation and their role before they become Trustees, Specific Trustee training can be offered as well, Bo Risk management The Trustees have a duty to identify and review the risks to which the Trust is exposed and to ensure appropriate Be controls are in place to provide reasonable assurance against fraud and error. A risk assessment has been completed : and is regularly updated, In particular, the Trustees have identified the performance of the Investment portfolio as a : a result af the ever changing stock market as a risk to the Trust and this is regularly kept under review. : -

Kingswood Chapel Trust

Report of the Trustees for the year ended 31 March 2024

FUTURE PLANS Plans for 2024 and Beyond Trustees consider the financial position of the Trust to be sound at the year end. The Trust continues to liaise with the Congregation about their future plans for Ministry at Kingswood and the level of financial support that may be required. Trustees are mindful of the situation in Ukraine and the financial risks that this may over time add to running costs.

In 2021, Trustees received from its retained RICS qualified conservation building surveyor quinquennial reports for the Chapel and Schoolroom and the Parsonage. These follow on from the 2015 reports since which time mast of the ‘recommendations for maintenance work have been carried out. The latest reports identify a few further items with suitable budget costs. These items will be carried out in accordingly,

Messrs Veale Wasbrough Vizards (VWV), the Trust's solicitors, continue to provide administrative services to the Trust and to provide ad hoc legal advice as required in connection with Trust policies and its operation generally having regard to Charity Commission procedures,

The Trust continues to review the appropriateness of its policies and procedures for good good governance.

Recruitment and appointment of new new Trustees

Any new Trustees are provided with literature outlining their responsibilities together with a copy of the Constitution and of the Trust's latest report and financial statements, and they are briefed through introductory meetings about the organisation and their role before they become Trustees, Specific Trustee training can be offered as well,

Risk management The Trustees have a duty to identify and review the risks to which the Trust is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A risk assessment has been completed and is regularly updated, In particular, the Trustees have identified the performance of the Investment portfolio as a result af the ever changing stock market as a risk to the Trust and this is regularly kept under review.

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Kingswood Chapel Trust

| Report of the Trustees for the year ended 31 March 2024 } TRUSTEES' RESPONSIBILITY STATEMENT } TheapplicableTrusteeslawareandresponsibleUnited Kingdomfor preparingAccountingtheStandardsReport of the(UnitedTrusteesKingdom andGenerallythe financialAcceptedstatementsAccountingin accordancePractice). with | The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution requires the Trustees to prepare financial statements for each financial year | which give a true‘and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure, of the Trust for that period. In preparing those financial statements, * the Trustees are required to 1 - ! -- selectobservesuitablethe methodsaccountingand principlespolicies andin thethenCharity apply themSORP;consistently; - make judgements and estimates that are reasonable and prudent; I - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business. ; The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time I theAct financial2011, thepositionCharityof(Accounts the Trust andand Reports}to enableRegulations them to ensure2008 thatand thethe financialprovisionsstatementsof the Constitution,comply withTheythe Charitiesare also l dr e tectionsponsibleof f orraudsafeguardingand other irregulthe a ritiesset s . of the Trust and hence for taking reasonable steps for the prevention and } a order ofthe board oftrustees on 22.03, 2024 and signed on its behalf by:

P White — Chair of Trustees

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Report of the Independent Auditors to the Trustees of Kingswood Chapel Trust

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Opinion ° We have audited the financial statements of Kingswood Chapel Trust (the charity’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements: - give a true and fair view of the state of the Trust's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended; © have been properly:prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financlal 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 Standard, 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 to provide a basis for our opinion,

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any materia! uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included .in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon,

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financlal statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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 to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or ; - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or ~ we have not received all the information and explanations we require for our audit.

Responsibilities of trustees As explained mare fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to dao so.

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Report of the Independent Auditors to the Trustees of Kingswood Chapel Trust

and whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this : context included the Charities Act 2011. As a result of these procedures we considered the opportunities that may exist within the organisation for fraud resulting in material misstatement in the financial statements. We considered that any such opportunities are mitigated by the : fact that the company is under the close control of its directors. : Our procedures to arrive at this conclusion included the following: - reviewing balance sheet control accounts to ensure properly reconciled; : - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material : : misstatement due to fraud; : - enquiring with management concerning actual and potential litigation claims. : 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.uk/auditorsresponsibilities. This description forms part of our Report of the | Independent Auditors. : Use of our report : This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those Po matters we are required to state to them in an auditors’ report and for no other purpose, To the fullest extent permitted oe by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, io | for our audit work, for this report, or for the opinions we have formed. a Nicklin Audit Limited | 7 Chartered Accountants : _ Statutory Auditors : Church Court Stourbridge Road oe Halesowen : | West Midlands . | Date: 34h. 34h. Seplambes 2c : | Page 7 :

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder,

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstaternent, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion, Reasonable assurance is a high level of assurance, but is not a quarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence ‘the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud Is detailed below:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, Including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

the nature of the industry, control environment and business performance; - results of our enquiries of management about their own identification and assessment of the risks of irregularities; - any matters we have identified having reviewed the company's procedures for complying with laws and regulations and whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this context included the Charities Act 2011.

Nicklin Audit Limited | Chartered Accountants Statutory Auditors Church Court Stourbridge Road Halesowen West Midlands Date: 34h. 34h. Seplambes 2c

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Kingswood Chapel Trust

Statement of Financial Activities for the year ended 31 March 2024

						2024	2023
			Unrestricted		Endowment	Total	Total
				funds	funds	funds	funds
		Notes		£	£	£	E
INCOME AND ENDOWMENTS FROM
Charitable activities
Chapel activities				4,100	~	4,100	13,462
Investmentincome	*	2		67,943	-	67,943	68,840
Total				72,043	:	72,043	82,302
EXPENDITURE ON
Charitable activities					.
Chapel activities				62,885	-	62,885	75,764
Governance costs			‘	-	:	:	3,720
Total				62,885	-	62,885	79,484
Net gains/(losses) on	investments			933	(58,713)	(57,780)	(293,512)
NETINCOME/(EXPENDITURE)				10,091	(58,713)	(48,622)	(290,694)
RECONCILIATION	OF FUNDS
Total funds broughtforward				305,422	1,633,490	1,938,912	2,229,606
TOTALFUNDSCARRIEDFORWARD				315,513	1,574,777	1,890,290	1,938,912

The notes farm part of these financial statements

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Kingswood Chapel Trust

Balance Sheet : 31 March 2024

						2024	2023
				Unrestricted	Endowment	Total	Total
				funds	funds	funds	funds
			Notes	£	£	£	£
	FIXED ASSETS
	Tangible assets Investments		5 6	130,872 119,479	223,436 1,281,352	354,308 1,400,831	347,920 1,451,325
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				250,351	1,504,788	1,755,139	1,799,245
	CURRENT ASSETS
	Debtors		7	4,680	-	4,680	2,232
	Cash at bank and in	hand		63,482	69,989	133,471	140,075
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				68,162	69,989	138,151	142,307
	CREDITORS			‘
	Amounts falling due	within one year	8	(3,000)	-	(3,000)	(2,640)
	NETCURRENTASSETS			65,162	69,989	135,151	139,667
	TOTAL ASSETS LESS CURRENT LIABILITIES			315,513	1,574,777	1,890,290	1,938,912
	NETASSETS			315,513	1,574,777	1,890,290	1,938,912
	FUNDS		9
	Unrestricted funds					315,513	305,422
	Endowment funds					1,574,777	1,633,490
	TOTALFUNDS					1,890,290	1,938,912

The financial stgtemants, were approved by the Board of Trustees and authorised for issue on ee, mand were signed on its behalf by:

The notes form part of these financial statements

Kingswood Chapel Trust

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Notes to the Financial Statements for the year ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the Trust, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)‘, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’, and the ‘ Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments and freehold properties which are included at fair value. Income All income is recognised in the Statement of Financial Activities once the Trust has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Incoming resources from endowment funds are considered to be unrestricted.

Expenditure : Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably, Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category, Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources,

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Freehold property is Included at fair value by the Trustees, The Freehold Property comprises two fields, the Parsonage, the Chapel and the Cottage. Trust property is not depreciated as, in the opinion of the Trustees, its estimated residual value is not materially less than its carrying value.

Taxation The Trust is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the Trust. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Investments in securities

Investments in securities are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

2, INVESTMENT INCOME

INVESTMENT INCOME
	2024	2023
Rents receivable	904	956
Incomefrominvestments	67,039	67,884

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Kingswood Chapel Trust

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Notes to the Financial Statements - continued for the year ended 31 March 2024

3. TRUSTEES’ REMUNERATION AND BENEFITS

There were no Trustees’ remuneration or other benefits for the year ended 31 March 2024 or the year ended 31 March 2023.

Trustees’ expenses

There were no Trustees’ expenses paid for the year ended 31 March 2024 or the year ended 31 March 2023.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
	Unrestricted funds £	Endowment funds £	Total funds £
INCOME AND ENDOWMENTS FROM
Charitable activities
Chapel activities	13,462	-	13,462
Investment income	68,840	-	68,840
Total	82,302	;	82,302
EXPENDITURE ON
Charitable activities
Chapel activities	75,764	-	75,764
Governance costs	3,720	-	3,720
Total	79,484	-	79,484
Net gains/(losses) on investments	(3,297)	(290,215)	(293,512)
NET INCOME/(EXPENDITURE)	(479)	(290,215)	(290,694)
RECONCILIATION OF FUNDS
Total funds brought forward	305,901	1,923,705	2,229,606
TOTALFUNDS CARRIED FORWARD	305,422	1,633,490	1,938,912
TANGIBLE FIXED ASSETS
	Freehold	Plant and
	property	machinery	Totals
	£	£	£
COST
At 1 April 2023	347,920	“	347,920
Additions	-	7,098	7,098
At 31 March 2024	347,920	7,098	355,018
DEPRECIATION
Charge for year	:	710	710
NET BOOK VALUE
At 31 March 2024	347,920	6,388	354,308
At 31March2023	347,920	:	347,920

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Kingswood Chapel Trust

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Notes to the Financial Statements - continued for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

The freehold property which comprises two fields, the Parsonage, the Chapel and the Cottage was valued on an open market basis on 31 March 2016, If the freehold property had not been revalued it would have been included at a cost of £305,420.

6, FIXED ASSET INVESTMENTS

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |i|Listed| |investments| |£| |MARKET|VALUE| |At|1|April|2023|1,451,325| |Additions|321,154| |Disposals|(310,420)| |Revaluations|(61,228)| |At|31|March|2024|1,400,831| |NET|BOOK|VALUE| |At|31|March|2024|1,400,831| |At|31|March|2023|1,451,325| |There|were|no|investment|assets|outside|the|UK.| |Cost|or|valuation|at|31|March|2024|is|represented|by:| |Listed| |investments| |Valuation|in|2024|1,400,831| |7|DEBTORS:|AMQUNTS|FALLING|DUE|WITHIN|ONE|YEAR| |2024|2023| |£|E| |Prepayments|and|accrued|Income|4,680|2,232| |8.|| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|2024|2023| |Other|creditors|3,000|2,640| |9,|MOVEMENT|IN|FUNDS| |;|Net| |movement|At| |At|1.4.23|in|funds|31.3.24| |£|£|£| |Unrestricted|funds| |General|fund|305,422|10,091|315,513| |Endowment|funds| |Endowment|Fund|Land|58,500|-|58,500| |Endowment|Fund|Other|1,574,990|(58,713)|1,516,277| |1,633,490|(58,713)|1,574,777| |TOTAL FUNDS|1,938,912|(48,622)|_|1,890,290|

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Kingswood Chapel Trust

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Notes to the Financial Statements - continued for the year ended 31 March 2024

MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

		Incoming	Incoming	Resources	Gains and	Movement
		resources		expended	losses	in funds
		E		£	£	£
	Unrestricted funds
.	General fund’	72,043		(62,885)	: 933	10,094
	Endowment funds
	Endowment Fund Other		-	-	(58,713)	(58,713)
	TOTAL FUNDS	72,043		(62,885)	(57,780)	(48,622)
	Comparatives for movement in funds
					Net
					movement	At
				At 1.4.22	in funds	31,3.23
				£	£	£
	Unrestricted funds
	General fund			305,901	(479)	305,422
	Endowment funds
	Endowment Fund Land			58,500	-	58,500
	Endowment Fund Other			1,865,205	(290,215)	1,574,990
				1,923,705	(290,215)	_1,633,490
	TOTAL FUNDS			2,229,606	(290,694)	1,938,912
	Comparative net movement in funds, included in the above		are as follows:
		Incoming		Resources	Gains and	Movement
		resources E		expended £	losses £	in funds £
	Unrestricted funds
	General fund	82,302		(79,484)	(3,297)	(479)
	Endowment funds
	Endowment Fund Other		-	~	(290,215)	(290,215)
	TOTALFUNDS	82,302		(79,484)	(293,512)	(290,694)

The Permanent Endowment Funds represent assets that are to be retained in perpetuity. Income arising from these Funds is expendable for the general purposes of the Trust to establish and further the Trust's objectives.

Page 13

continued...

Kingswood Chapel Trust

Notes to the Financial Statements - continued for the year ended 31 March 2024

10. RELATED PARTY DISCLOSURES

There were related party transactions for the year ended 31 March 2024, The grant to the Congregation committee was made in the amount of £12,000 (2023: £19,000),

Veale Wasbrough Vizards LLP

;

Ms Jaime Hobday (secretary) Is a partner of Veal Wasbrough Vizards LLP.

Secretarial and legal services recharged by this related party during the year amounted to £11,046 (2023: £12,375).

The charity contracted for maintenance services to be supplied by A B Services Limited, a company controlled by a sibling of Ms K Jinks, for an annual fee of £10,000,

Page 14

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Kingswood Chapel Trust

Detailed Statement of Financial Activities
for the year ended 31 March 2024
		2024	2023
		£	£
INCOME AND ENDOWMENTS
Investment income
Rents receivable		904	956
Incame from investments		67,039	67,884
.
		67,943	68,840
Charitable activities
Graveyard receipts		4,100	12,565
Grants		-	897
		4,100	13,462
Total incoming resources	‘	72,043	82,302
EXPENDITURE
Charitable activities
Council tax and insurance		6,345	5,438
Repairs and maintenance		13,281	13,971
Grant to Congregation Committee		12,000	19,000
		31,626	38,409
Support costs
Management Audit Legal and professional fees		3,360 27,117	3,720 37,283
Plant and machinery		710	-
		31,187	41,003
Finance
Bank charges		72	72
Total resources expended		62,885	79,484
Net income before gains and losses		9,158	2,818
Recognised gains/losses
Profits on disposals		3,449	(69,486)
Revaluations		(61,229)	(224,026)
Netexpenditure			(48,622)

This page does not form part of the statutory financial statements

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OpenCharities

2024-03-31-accounts

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1 Detailed Statement of Financial Activities 45

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ACHIEVEMENT AND PERFORMANCE

Charitable activities

Review of Achievements April 2023 to March 2024

FINANCIAL REVIEW Reserves policy

Kingswood Chapel Trust

Report of the Trustees for the year ended 31 March 2024

Recruitment and appointment of new new Trustees

Basis for opinion

Conclusions relating to going concern

Other information

Our responsibilities for the audit of the financial statements

The extent to which our procedures are capable of detecting irregularities, including fraud Is detailed below:

Kingswood Chapel Trust

Kingswood Chapel Trust

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Tangible fixed assets

Taxation The Trust is exempt from tax on its charitable activities.

Fund accounting

Investments in securities

3. TRUSTEES’ REMUNERATION AND BENEFITS

Trustees’ expenses

5. TANGIBLE FIXED ASSETS - continued

6, FIXED ASSET INVESTMENTS

10. RELATED PARTY DISCLOSURES

Veale Wasbrough Vizards LLP

Kingswood Chapel Trust