Charity registration number 1201373 THE CHISSLANDS TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 THE CHISSLANDS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev Paul Bradish Rev Stephen Golding Revjemima Lewis Mèrinus Reynolds-viljoen Catherine Gardiner lappolnted 16 December 20221 (appointed 10 July 20231 (appointed 16 December 20221 (appointed 16 December 20221 lappolnted 16 December 20221 Charlty number 1201373 R￿lStered offl¢e The Rectory Campion Way Klngs Worthy Winchester S023 7QP THE CHISSLANDS TRUST CONTENTS Paze Tru5tees' report ststement of financial activities 8alance sheet Note5 to the flnanclal statement5 THE CHIS5LANDS TRUST TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the period ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial Statements and comply with the charity's governlng document, the Charlties Act 2011 a￿1 "Accountin8 and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reportin8 Standard applicable in the UK aNI Republic of Ireland IFRS 1021" leffective I january 20191. Objectives and artivities The charity has three objectives.. The maintenance and Improvement, addition or alterat6on to or of the fabric and contents of St Swithvn's Church Headbourne Worthy and also to or of any other land or buildin8s held by the incumbent or priest-in-char8e for the time being of the church or by the Diocesan Board of Finance as custodian trustee on behalf of the PCC. The promotion of the ministry and mission of St Swithun's Church and any other Church held in plurality by the Incumbent or simultaneously by the prlest-In-char8e for the time being or within any benefice or team to which St Swithun's Church belon8s and its or their work amon8St people particularly, but not exclusively, withln the parish of Headbourne Worthy or other part or parts of the benefice or team or linked parish. Subject to the prlmacy of the two objects above, to support the wlder mlsslon of the Church of England in the Diocese of Winchester, Public benefit The trustees have paid due re8ard to 8uidance issued by the CharSty Commlsslon In declding what activities the charlty should undertake. Achlevements and performance The CIO was established in order to continue the charitable work of Church Land or Chissland Icharity number 2057531. Upon professional legal advice, the trustees of Church Land or Chissland embarked u pon a managed transition from a restricted trust deed with limited power5 to a Charitable Incorporated Organisation giving trustee5 wider and more flexible powers under the constftutfon. The assets were transferred on l January 2024, and therefore there is no activlty to report in the year ended 31 December 2023. Stwcture, Kovern•Thce and man48ement The charity 15 a CIO registered in England and Wales on 16 December 2022. THE CHISSLANDS TRUST TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 The trustees who served during the period and up to the date of signature of the financial statements were.. Rev Paul Bradish Rev Stephen Goldillg Revjemima Lewls Marinus Reynolds-viljoen Catherine Gardiner (appointed 16 December 20221 (appointed 10 July 20231 (appointed 16 December 2022) (appointed 16 December 20221 (appointed 16 December 20221 Th ustee5' report was approved by the Board of Trustee5. Tru tee Date., THE CHISSLANDS TRUST STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2023 Notes Totsl In¢ome Not Income and movement In funds Reconelllatlon of funds: Fund balances at l January 2023 Fund balances at 31 De¢ernber 2023 The statement of financlal actlvltles Includes all gains and losses reco8nised in the period. All income and expendlture derive from conttnulng activities. THE CHISSLANDS TRusr BALANCE SHEET AS AT 31 DECEMBER 2023 2023 Notes Net assets The funds of the charlty flnanclal statements were approved by the trustees on . stee THE CHISSLANDS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Accountlng pollcles Charlty Informatlon The Chisslands Trust is a CIO and was registered on 16 December 2022. 1.1 Accountlng canventlon The financial statements have been prepared In accordance wlth the charlty's governinB document, the Charities Act 2011, FRS 102 "The Financlal Reporting standard applicable in the UK and Republic ol Ireland" I"FRS 102,1 and the Charities SORP "Accounting and Reporhng by Charitie5'. 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 IFRS 1021" leffecttve l January 20191. The charity is è Public Beneflt Entity as defi'ned by FRS 102. The charity has taken advantage of the provlsions in the SORP for charitfes not to prepare a Statement of Cash Flows. The financlal statements are prepared in sterlin& which is the functional currency of the charlty. Monetary amount5 In these financial statements are rounded to the nearest £. The flnanclal statements have been prepared under the hi5torlcal cost convenlon. The princlpal accounting policies adopted are set out below. 1.2 Goln8 concern At the time of approvlng the financial statements, the trustees have a ￿asOnable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the Boing concern basis of accounting in preparing the financlal statements. 1.3 ChJrltable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charitable oblectlves. Restricted funds are subject to specific conditions by donor5 or grantors as to how they may be used. The purposes and uses of the restricted fund5 are set out in the note5 to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintalned by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been rnet, the amount5 can be measured reliably, and It Is probable that income will be received. THE CHISSLANDS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Accounting pollcles (Contlnued) Cash donations are recognised on receipt. Other donations are recognised once the charlty has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in reladon to donation5 received under Glft Aid or deeds of covenant Is recognised at the t(me of the donation. Le8acles are recognised on receipt or otherwise if the charity has been notified of an impending distributr'on, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as o contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligatlon to transfer economic benefit to a thlrd party, It 15 probable that a transfer of economic benefits will be required In settlement, and the amount of the obligation can be measured reliably. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash Sn hand, deposlts held at call wlth bank5, Other short.term Ilquid Investments wlth original maturities of three months or less, and bank overdrafts. Barbk overdraft5 are shown wlthln borrowings in current liabilities. 8oslcflnonclal o5sets 8asic financial assets, which include debtors and cash and bank balances, are initlally measured at transaction price Sncludlng transaction c05t5 and are subsequently carrled at amorhsed cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate ol interest. Financial assets classified a5 receivable wlthln one year are not amordsed. 8aslcfinanclgl Ilqbllllles Basic financlal liabilities, including creditors and bank loans are initially recognised at transacfjon price unless the arrangement constitutes a flnancing transacdon, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financlal Ilabilities lassified a5 payable within one year are not amorttsed. Trade creditors are obli8ations to pay for goods or service5 that have been acquired in the ordinary course of operation5 from suppliers. Amounts payable are classifred a5 current liabllities if payment is due within one year or less. If not, they are presented as notFcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effethve interest method. THE CHISSLANDS TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Trustee5 None of the trustees lor any persons connected with thernl re￿iVed any remuneration or benefits from the charlty during the period. Employees The average monthly number of employees during the perlod was.. 2023 Number Total There were no employees whose annual ￿MuneratiOn was more than £60,000. Thxatlon The charity 15 exempt from taxation on Its activitles because all its Income is applled for charitable purposes. Related party trnnsa¢tion8 There were no disclosable related party transacttons durlng the period. Post balance Sheet event On l January 2024, net assets totalling £999,867 were transferred to the CIO from Church Land or Chissland Icharity number 2057531. The balance sheet and Statement of Financial Activities for Church Land or Chlssland for 31 December 2023 are attached to these accounts for Information purp05e5. CHURCH LAND OR CHISSLAND Charlty number: 205753 STATEMEKf OF FINANCIAL A￿1VITIEs FOR THE YEAR ENDED 31 DECEMBER 2023 Restrlrted Unrestricted fund5 funds Total 2023 Tot31 2022 Notes INCOME Donatlons and legacies Investment Income 669 26,7C(J 26,700 26,547 TOTAL INCOME 26.700 26,700 27.216 Charitable actlvltles 39,953 39.953 38,738 TOTAL EXPENDITURE 39,953 39,953 38.738 NET IEXPENDITUREIIINCOME 113.2531 113,2531 111,5221 PROFITIILOSSI ON REVALUATION OF INVESTMENTS 83,997 83,997 1119,0461 NET MOVEMENT IN FUNDS AFTER REVALUATIQN 70,744 70,744 1130,5681 FUNDS BALANCE AT I JANUARV 2023 929,123 929,123 1,059,691 FUNO BALANCE AT JI DECEMBER 2023 999,867 999.867 929,123 The Statement of Flnan¢ial Aclivilie5 includes all galns and losses recognlsed in the year. All income and expendlture derlves from cohtinuln8 activltles. All income and expendlture wa5 unrestrlcted In the comparatlve year. CHURCH LAND OR CHISSLAND Chartty hufflber: 205753 BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Notes FIXED ASSET5 Investments 976.783 892,7B7 CURAENT ASSETS Cash at bank and In hand 24,284 37,536 CREDITORS.. amounts fallln8 due wlthln one year 1.2001 1,2LTh) 23,084 36,336 NET ASSETS 999,867 929,123 FUNDS Restrlcted funds Unrestrlcted fund5'. General fund 999,867 929,123 999,867 929.123 TOTAL FUNDS 999,867 929,123 Approved by the board of trustees on and slgned on Its behalf by..