evelyn PARTNER:, St AldheLm's ChapelTrust Ghèiity R￿LSIr011On No,1199398 Trustees. report and unaudited accounts Forthe yearended 31 March 2024 St Aldhelm's Chapel Trust Legal and administrative information Trusté¢s Lord Rockley William Lawrence Greenwell Swan Arabeiia Gaggero The Hon William Evetyn Cecll Charlty numb 1199398 Prlnclpal addvess Lytchett Heath Poole Dorsel BH16 6AE Independent •xamlnor Julie Mutton FCA CLA Evelyn Partners Limited Chartered Accountants Old Library Chambers 21 Chlpper Lane Salisbury Wiltshire SPIIBG Accountants Evelyn Partr)ers LLP Accounlanls Old Ltbrary Chambers 21 Chipper Lane Salisbury Wiltshire SPI IBG Bankers Coutts & Co 440 Strand London WC2R OQS Investment advlsors Cazenove Capital l LorKlon Wall Place London EC2Y SAU St Aldhelm's Chapel Trust Contents Page Trustees. report Independent examiner's report statement of financial activities Balan￿ sheet Notes to the accounts 7-11 St Aldhelm's ChapelTrust Trustses. report for the year ended 31 March 2024 The trustees present their report and accounts for the year ended 31 March 2024. The accounts comply with the Charities Act 2011 and Accounting and Reporting Charities.. Statement of ￿￿0￿mended Practice applicable lo Chariti￿ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repubbc of Ireland IFRS 1021 (effective l January 20191. Appllcatlon to reglster and cY.P￿ s¢heme The Trustees submltted an applicat￿On to register as a charity with The Charity Commission. together with an app11eation of property cy-prés pursuant to the Charities Act 2011. On 23 June 2022 the Trustees received confirmation Ihat the Sl Aldhelm's Chapel Trust is included on the Register with the R￿lstered Charity Number 1199398 with additional secondary purposes once its principa.: objective has beer) achieved. ObJ•cts and actlvltles The principal objective of the Fund is the preservation and maintenance of St. Aldhelm's Chapel for the celebration of divine services. To the extent that the primary purpose has b￿n ach￿Ved the Trustees may at their absolute discretion apply surplus income lo several focused areas including.. Supporting the physical and mental health of HM Armed forces The prevention of crime and the rehabilitation of prisoners The relief of physical and mental illnosg The advancement of education The rekn'ef of poverty Investmentpollcy The Fund has a portfolio of listed investments that had a market value of £8.40L39112023' £7,728.8391 at 31 March 2024.The trusteès receive investment advice from Cazenove Capital. PubUcbeneAt The trustees h<)ve considered the guidance provided by the Charity Commission with regard to meeting the public benefit objective and are satisfied that the activitiès undertaken during the year fully meet these requirements. AchIe￿ments aftd perfornianee Resultsfvrthe>Yor A summary of the activities for the year is shown on the Statement of FinancialActivitEs on page 5. During the year the charity received £137.69212023'. £117.1791 from listed investments and £23,094 Q023.. £6,088) in Interest It wid out £190.257 12023.. £173.0501 in furtherance of the charity's objects. which includes repair> and maintenance of St Aldhelm's Chapet. and a furiher £4.199 12023 £13.3741 on support Iprofessionau f*s After deducting investment management fees of £19.61112023'. EIg.9901 Ihere was a net deficit for the year. before gains on investments. of £53,28112023. E83,14 Resemspoucy It is the pdicy of the charity lo spend income which becomes available to IL at the trustees, discretitsn. in furtherance of the charity's objects whilst maintaining the capitsl from which the income derives. St Aldhelm's Chapel Trust Trustees, report for the year ended 31 March 2024 Rdatedpartles Durlng the year the Fund made a donation to Salters. Charitable Foundation for £60,00012023.. £niU. Lord Rockley is a member of the Court of the Salters who are effectively the Tr￿leeS of the Charitable Foundation. structure, gtwemanee and management The charity was established by an indenluie on 14 November 1898, Trustees The trustees who served during the year were". Lord Rockley William Lawrence Greenwell Swan Arabella Gaggero The Hon William Evelyn Cecil The power of appointing trustpes is v￿ted in the current trustees. with the day to day administration being carried out by Lord Rockley Rlsk fvetor5 The trust￿5 have assessed the risks to the Fund's assets and are satisfied that sufficient controls are in place and this will be subject to regular review. St Aldhelm's Chapel Trust Trustees, report for the year ended 31 March 2024 Trusteos. rrfponslblutles The tfU51ees are responsible for preparing the Trustees. report and the accounts in accordance with app￿.CabLe law and regulations. The law applicable to charitles in England and Wales iequires the trUst￿S to prepare attounts for each financial year In accordanc& with United Kingdom Generally Accepted Accounting Practice (United Klngdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the trust and of the incoming reSoUr￿S and application of resour￿ Df the trust for that year. In preparing these accounts. the trustees are r￿Uired to.. select suitable accounting po￿.cleS and then apply them consistently,. - observe the methods and principles in the Charities SORP., - make judgements and estimates that are reasonable and prudent., state whether applicable accoLJnting standards have been followed. su&'ect to any material departures disclosed and exptained in the accounts.. and prepare the tsccounts on the going concern basis unL￿S it is inappropriate to presume that thè charity will eontinue in operation. The trustees are responsible for keeping proper accounting records which are ¢ufficient to show and explain Ihe trust's transactions and disclose with reasonable accuracy al any lime the financial position of the trust and enable them to ensure that the accounts comply with the Charities Act 2011. the Charities (Accounts and Reports) Regulations 2008 and the provisionur of the trust deed. They are atso responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregu￿rItieS On tkhalf ofthe board of trusteès Lord Ro¢kiey Trustee Datv. Is St Aldhelm's Chapel Trust Independent examiner's report to tha trustees of St ALdheLm's Chap•L Trust I report to the trustees on my examination of the accounts of St AldheLm's Chapel Trust for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet 2nd the rnotes to the accounts. including a summary of significant accounting pob'cies. Respectlve ve5ponslbllitlesof trnsteesand examlnerand bas1$ of rewt the charity'5 trusl*s. you are responsible for tho preparation of the accounts in accordance with the requirements cf the Charities Act 20111'lhe Acl'l. I report in respect of my examirsation of the charity's accounts carried out under section 145 of t￿￿ Act and in carryino out my examination I have followed ali the applicable Directions given by the Charity Commission under section 14515Xbl of the Act. Independent *xamln•rf$ $tatement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to bèlieve that in any material respect.. accounting records were not kept in respect of the eharity as T4uired by section 130 of the Act.. or the accounts do not accord with those records." or the accounts do not comply with thè appbcable requirements concerning the form 3nd conlenl of the accounts sel out in the Charitie5 (Accounts and Reports) Regutations 2008 other than amy requirement that the accounts give a true and fair view which is not a maller considered as part of an independent examination I have no concerns and have come accr0￿ no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts lo be reached, Juuo Mutton FCA Fellow of The Institute of Chartered Aecounlants in England & Wai CLA Evelyn Partners Limited Chartered Accountants Old Library Chambers 21 Chipper Lane Sabsbury Willshire SPI IBG Date". 2 Augus12024 St Aldhelm's Chapel Trust Statement of financial activities for the year ended 31 March 2024 2024 2023 Notes Income Investment income 160386 123.267 Total 160,786 123.267 EKpendltu Costs of raising funds Expenditure on charitable acb"vities. Direct charitable expenditure Support costs 19,611 19,990 190,257 4,199 173.050 13,374 Total 214,067 208,414 Net deficlt belore galns and losses ¢>n Investments 153,2811 183,1471 Net gains on investments 702,3TI 100,031 Surplus for theyear/net movement In funds 649,096 16.884 Totalrnconclllation of funds Total funds brou¢Jht forward 8A03.081 8.386.197 Totalfunds carrl•d forward 9,052,177 8,403.081 Ali income and expenditure derive from continuing activities. St Aldhelm's Chapel Trust Balance sheet as at 31 March 2024 2024 2023 Notss Investments 8,401,391 7.728,839 Currentassets Cash at bank and in hand 653,978 ?78,594 653.978 578,594 Uabllltles Creditors falling due within one year 13,192> 14.3521 Netcurrent a$50ts 650,786 674.242 Totalassets less current llab1ll￿ 9,052,177 8.403.081 Unrestricted funds 9.052.177 8.403.081 T¢)tsl charlty funds 9,052,177 8,403.081 T￿￿tee$. approval In accordance with the engagement letter dated 4 July 2024. we approve Ihe accounts for the year ended 31 March 2024 which comprEe the statement of finarKial aclivilies, the balance sheet and the related notes I to 9. We acknowledge our responsibl￿ty for the accounts, inclLJding the appropriateness of the accounting basis set out in note l and for providing Evelyn Partners LLP with all the informaliw and explanations necessary for their compilation. Signed on behalf of the trustees Lord Rockley Trustee Date........ St Aldhelm's ChapelTrust Notes to the accounts for the year ended 31 March 2024 Aeeountlng pouclès 1.1 Basls of preparatlon The accotjnls have been prepared in accordance W￿th Accounting and Reporting by Charities.. statement of Recommended Practice applicable to cbartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republie of Ireland IFFE 1021 (effective l JanLJary 20191. The aCCOLJnts have been prepared under the hisbrical cost convention. as modified to include the revaluation of certain assets The trustees confim that the charity is a public benefit @ntity as defifi￿1 by FRS 102. The accounts are prepared on a gang con￿rn basis. L2 Fund accountlng General funds are unTestricted funds which are available for use at the discretion of the trustees in furtherance of the gerTreral objects of the charity and which have not been designated for other purposes. 1.3 Income All income is credited to the ststement of financial activities in the period in whieh it is ￿CeiVable 1.4 Expendltum Lialilities are recognised as resources expended as Soon as there Is a legal or constructive obligation commltting the charity to the expenditure. All expenditure is èccounted for on an accrua basis and has been classified under the headings that aggregate all costs retated to the category. The costs of raising funds include investment management fees Char￿table activities consist of costs retating to the prescwation and maintènancè of St Aldhelm's Chapel. Following the charity's reglstration with The Charity Commssion arKI cor)firmation of its additional secondary purpos￿ On￿ rts principal o&'ective has been achieved, charitable activities now a￿0 Include grants lo institutions. Other costs consist of costs not directly attributable lo direct ettaritable expenditure but which 2re in respect of the general administration of the charity and overall mnagement of funds L5 Investments Fixed asset investments are stated at market value at the balance sheet date All investments held are quoted on a recognised stock exchange. Roalised eind unrealised gains or losses are recognised in the statement of financial activities Realised gains Dr losses are the difference betw&n disposal Proceeds and the opening market value lor original cosl if purchased during the yearl. Unrealised gains or It￿SeS are the dIfferern￿ between the market value al the year end and the opening markèt value lor original cost if purchased during the yearl Realised gains and losses are not separated in the gtAtÈment of financial activiti￿. St Aldhelm's Chapel Trust Notes to the accounts for the year ended 31 March 2024 Investment Income 2024 2023 ncDme from listed inv*tments Interest re￿IVed 137,692 23,094 117.179 6.088 160.786 123,267 T•talexpendlture 2024 2023 Ralslng funds: Investment management fees 19,611 19,990 19,611 19.990 Charltablè actlthU•$'. Repairs Light and heat Insurance Vicar Cleaning Organist Grants to institutions note 4; 9,053 I,oii 1,617 1,920 432 724 175500 6,586 1.659 1,509 1,840 412 544 160.500 190,257 173,050 Support cost&. Accountancy fees Professional fees Bank charges and interest 2712 1,560 173) 2.n4 10,560 loo 4,199 13,374 214,067 206.414 StAldheLm's ChapelTrust Notes to the accounts for the year ended 31 March 2024 Donatlons 2024 2023 8LESMA Bournemouth University Disabled Sailors Association Diverse AiThliti￿ Plus Ltd Fine Cellwork Lewis-manning Hospice Care Lytchelt Matravers Youth Hall ard Youth Club Cperation Future Hope Ltd Floutes to Roots IP¢)olel CIO Salters. Charitsble Foundation Stoborough Baptist Church (Blessing Fund) The Institute for Caneer Vaccines and Immunotherapy The Three Pillars The Vetèrens Hub- Weymouth and Portiand CIC The Vale Pantry Water Lily Project 3.(K)O 10.000 loo.000 10.000 10,500 5.000 10,000 25,000 5.000 7500 60,000 S.(XO 5.CQO 4000 ,000 26,000 7,500 10.000 7,5(K) 175.SOO 160.500 These donations were made for the following charitable purposes., 2024 2023 Supporting the physical and mental health of HM Armed Forces The advancement of education The prevention of crim& arFd rehabilitation of prisoners The relief of physical and mental illness The relief of poverty Is.000 100,500 10,000 17,500 32,500 3.000 10.000 5.000 115.000 27.500 175,500 160.500 Trustees During the year. Lord Rockley was reimbursed £2.750 12023 nil) for repairs and maintenaft expenses paid on behalf of the Trust. None of the Iruslees lor any persons ionnected with Iheml received any remuneration during the current Dr prior year. The Lytchett Estste (busin￿5 name for which Lord Flockley is sole Ir&derl charges the Sl Aldhelm's Chapel Trust El,80012023'. EI.6501 per anntjm for maintaining the bur￿[ ground Curw & Co LLP are the solicitors to the St Aldhelm's Chapel Trust and charge on a time spent basis for legal advice in connection with the charity. William Swan is a partner of Currey & Co LLP. St Aldhelm's ChapelTrust Notes to the accounts for the year ended 31 March 2024 Employees There were no employees during the current or prior year. Hxed asset Investments 2024 2023 Market value at 6 April 2023 Acquisitions at cost Disposals dt carrying value Change in value in the year 7.728,839 7.695.850 323,480 982,562 1355,191) 11,068.6281 704263 119.055 Market valu• at 31 March 2024 6,401,391 7.728.839 Investments at market valLAe comprised.. Equiti Bonds Multi-asset funds Alternativ 7,529,266 356.191 39,966 475,968 6.818,931 360,995 54,716 494.197 Market value at 31 March 2024 Cash held within portfolio 8.401,391 558,539 7,728.839 403.542 Portfo￿￿ total 8,959,930 8.132,381 Book cost at 31 March 2024 2,543,549 2.583.093 Net investment galns ¢omprfsed.' Realised losses Unrealised gains 11,8861 704,263 119.0241 119.055 702,377 LOO.031 dltors 2024 2023 Accruals 3.192 4.352 ID- St Aldhelm's ChapelTrust Notes to the accounts for tha year ended 31 March 2024 Roiat8d partles During the year the Fund made a donation to Salters, Charitable FOundat￿n for £60,00012023.. £nlV. Lord Rockley is a member of the Court of the Salters who are effectively the Trustees of the Charitablè Foundation.