THE CHISSLANDS TRUST CHARITY NUM8ER:1201373 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE CH155LANDS TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The charity wa5 registered on IG December 2022 with the Charlty Commlsslon In England and Wales. Re81stered Charlty Number 1201373 Trustees durln8 the year and to date Rev P Bradish Rev S Goldlng Rev J Lewis M Reynolds-vllloen C Gardiner Ireslgned 16th December 2024 Prlnclpal I re#lst•red addre$5 The Rectory 4 Camplon Wav Kings Worthy Wlnchester 5023 7QP Bafiklrs Natwest 105 Hi8h Street Winchester Hampshire S023 9AW Indep•ndent examlners Knlght Goodhead Ltd 7 Bournemouth Road Chandler's Ford, Eastleigh Hampshlre $053 3DA
THE CHISSLANDS TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and unaudited accounts for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policles set out in note I to the accounts and comply with the charity's 6overning document, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021, the Charities, Statement of Recommended Practice applicable to charities preparin8 their accounts In accordance wlth FRS 102, and the Charities Act 2011. 08JEcfivES The charity has three objectives: 11 The maintenance and improvement, addition or alteration to or of the fabric and contents of St Swithun's Church Headbourne Worthy and also to or of any other land or bulldln8s held by the Incumbent or prle5t-In-charge for the tlme being of the church or by the Diocesan Board of Finance as custodian trustee on behalf of the PCC. 21 Support the ministry and mission of St 5withun's Church and any other church held In plurallty bv the Incumbent or slmultaneously by the prlest-In-¢harge for the time being or within any benefice or team to which St Swithun's Church belongs and its or their work amongst people partiCL4larly, but not exclusively* wlthSn the parlsh of Headbourne Worthy or other part or parts of the benetice or team or Ilnked parlsh, 31 Sublect to the prlmacy of the two objects above, the charlty 5UPPOrts the wlder mlsslon of the Church of England In the Dlocese of Wlnchester. SUMMARY OF ACTIVITIES The Charitable Incorporated Or8anisatlon ICIOI, known as the Chisslands Trust contlnues to flourlsh and move forward In meetln8 Its charitable oblertlves. Durlng 2024 further work was undertakèn by our Treasurer. Mrs Geraldlne Brown to glve effect to the transltlon from the old and defunct vicar and churchwarden trust to the new CIO. The Trustees met four times in 2024- one physical meetlng and three onllne meetlngs In order to transact busine55 and glve effect to requests made by the various bodies who can benefit. In addltion to appolntin8 professlonal advlsors and extendlng thelr role to assist wlth our charlty commlssion website registration, the trustees made income dSstrlbutlon declsions to beneflt St Swlthun's PCC and in partlcular the fundlng of the role of Lay Pastoral Assistant for 2025 in their meetin8 on 23 May 2024. The decision made by St Swithun's PCC to undertake roof renovations and the subsequent extension of that project to encompass the whole of the roof and Tower resulted in the CIO being approached for sUPPQrting grants that would underwrite this work.
On 9, September and 16 December 2024 the trustees electronically approved capital drawdowns of £200,OCM) and £50,000 to be distributed to the St Swithun's PCC as and when needed in furtherance of the roofing project. In July 2024, a quest was made by the St Mary's PCC to convert part of a grant made by the CIO in 2022 of £75,000 for youth and children's provision acr055 both pori5he5. A case was made by the St Marfs PCC that £36,000 of the remaining granl might be diverted to support the Cherish Buildin8 Project and their design efforts as it related to provision of facilities for youth and children. The trustees approved the reqLbe5t, but indicated that the St Mary's PCC should make arrangements to bolster the original fund by repaying £6,WO each year, for 6 years. This was approved by the respective PCC and Trustees and was subsequently implemented. The CIO contlnues to be overseen by it5 Tru5tee5, ably supported by the Treasurer and professional advlsors, Knight Goodhead and Stone Kin8 LLP. Catherlne GardSner's term as a Trustee automatlcally came to an end on 16 December 2024, two years after the creatlon of the CIO. There belng no automatic right to re-appointment, Catherine's term drew to an end, a fact noted by the Trustees in a glft of flowers in January 2025, In 2025 the CIO wlll seek to appoint a new Trustee for a 5-year perlod. The CIO has 50U8ht and obtalned pemission from the Winchester Dlocesan Board of Flnance to remove WDBF as a custodlan trustees and thereby allow the Trustees to act Independently, whlch15 the final step In the transltion from the old trust to the new CIO. STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparlng the Trustees Annual Report and the a¢¢ounts In accordance with applicable law and United Klngdom Accounting Standards Iunlted Klngdom Generally Accepted Accountin8 Pra¢tlcel. The law applScable to charltles In En8land and Wales Tequires the trustees to prepare accounts for e?ch financial year whlch glve a true and fair view of the state of affalrs of the charlty and of the Income and expenditure of the charity for that year. In preparing these account5, the trustees a requlred to.. select sultable accountlng pollcles and then apply them consistentlv. observe the methods and principles in the Charitles SORP. make judgements and estimates that are reasonable and prudent, state whether appllcable accounting standards have been followed, sublect to any material departures disclosed and explained in the accounts. prepare the accounts on the going concern basis unles5 It Is inappropriate to presume that the charity will continue in operation.
THE CHISSLANDS TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 20241contlnued) The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracv at any time the financial position of the chartty and enable them to ensure that the accounts comply with the Charlties Act 2011, the Charity SORP ind the provisions of the trust deed. They are also responsible ft)r safeguarding the assets of the charity and hence for takin8 reasonable step5 for the prevention and detectlon aud and other irregularitles. ehalf of the board of trustees On Paul Bradlsh Cha of Trustee5 Dated: 2L7. ¥S
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHISSLANDS TRUST I report to the charity trustees on my examinatlon of the accounts of the charlty for the year ended 31 December 2024 which are set out on pages 6 to 10. ResponslbllFtles and basls ol report As the trustees of the charity you aTe responslble for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the 2011 Act'l. I report in respect of my examination of the trustees, accounts carrled out under 5ectlon 145 of the 2011 Act and in carrying out my examination I have followed all applicable directions 8iyen by the Charity Commission under sertion 14515llbl of the 2011 Act. Indep•nd•nt eMamln•rfs ststem•nt I have ¢ompleted my examlnatlon. I confirm that no materlal matters have Come to my attentlon In connection wlth the examlnation givln8 me cause to believe that In any materlal respect: a¢countlng record5 were not kept In respect of the charlty as requlred by sectlon 130 of the 2011 Act; or the accounts do not accord wlth those records; or the accounts do not comply wlth the appllcable requlrements concernlng the form and content of accounts set out In the Chailtles (Accounts and Reports) Regulations 2008 other than any requlrement that the accounts glve a 'true and falr view. whlch Is not a matter con51dered as part of an independent examlnation. I have no concerns and have come across no other matters In connertlon wlth the examlnatlon to which attentlon should be drawn thls report in order to enable a proper understandlng of the accounts to be ached. 1¥ Lazs CJ GOODHEAD FCA Knight Goodhead Limited Chartered Accountants 7 Bournemouth Road Chandler's Ford, Eastleigh Hampshire S053 3DA
THE CHISSLANDS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Restrirtèd Unrestrl¢ted funds fund5 Totsl 2024 T•tsl 2023 Note5 INCOME Investment income 27,389 27,389 TOTAL INCOME 27.389 harr(able actlvltles 254,272 254,272 TOTAL EXPENOITURE 254,272 IEXPENDrfuREIIINCOME 1226,8831 1226,8831 PROFITIIIOSSI ON REVALUATION OF INVESTMENTS 23,273 23,273 NET MOVEMENT IN FUNDS AFTER REVALUATION 1203.6101 1203,6101 Transfer from Church Land or Chlssland I laftuary 2024 999,867 999,867 FUND BALANCE AT 31 DECEMBER 2024 796,257 796,257 The Statement of Flnanclal ActlvltSes Includes all 8alns and losses reco8nSsed In the year. All Income and expendlture derlves frorn contlnulnB a¢tivltle5. All Income and expendlture was unre5trlcted In the comparatlve year.
THE CHI55LANDS TRUST BALANCE SHEET AT 31 DECEMBER 2024 1024 2021 Notes FIXED ASSETS Inve5tment5 750,056 CURAENT ASSETS Cash at bank and In hand 98,(7 98.(k57 CREDITORS= amunts fallln8 due wlthln one year 51,866 46,201 ASSErs 796,257 FUNDS Restrlcted fund5 Unrestrlcted funds,. General fund 796,257 796,257 TOTALFUNDS 796,257 Approved by the board of tr and sl8ned on Its behall bv.. on 21,7.L£. e8JtJ.P, C&kdlJq
THE CHISSLANDS TRusr NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POIICIES al Accountln8 convention The finHnclal statement5 have been prepared In xcordance wlth applltable accounting Stsndards. the Charitie5 Act 2011 and the Statement of Recommended Practice applicable for charities preparlng thelr accounts In ac¢ordSn8 wlth FRS 102 (effective January 20191. The charity meets the definitlon of the public bernefit entity under FRS 102, Assets and Ilabllltles are inltiallv reco8nised at h15torlcal cost or transaction value unless otherwlse stated In the relevaht ac¢ountlng policy below. The a¢munts have beeh prepared on the 8oln8 concern basls. bl Incorne All Income Is intludtd in the Statement of Financial Actlvltles when the Charlty 15 entltled to the Incorne and the amount can be quantllled wlth reasonablè accuracy. The followin8 specSfic polScles are applled to particular cate8orles of Income. DonatSons and lega£les are recelved by way of grants, donatlon5, and glfts. and Is Included In full In the Statement of Flnanclal Actlvltles when recelvable. cl Expendlture Expendlture Is reco8nlsed on an accrual basls as a liabllity Is In¢uried. It includes any VAT whlch cannot be fullv recovered, and Is rèported as part of the expendlture to whlch It relates.. Charltable actlvltles comprlses those cost5 Incurred by the charity in the dellvery of Its actlvltles and servlces foi Its beneflclarles. dl Fund accounting Funds held by the charlty are elther Unrestrlcted general funds Funds whlch can be used In actordance wlth the charltable oblects at the d15cretlon of the trustees. Funds whlch are set a51de for specSflc purposes by the trustees to be used In accordance wlth thè charltable oblects. Fund5 that can only be used for partlcular restrlcted purposes within the objects of the charlty. Restrl¢tions or15e when Splfed by the donor or when funds are raised for partlcular restrlcted purpose. Oesl8nated funds Restrlcted lund5 èl Baslc Flnanclal Instruments The charlty only enters Into baslc financlal Instrument transactlons that result In the recognitlon ol flnancial a$5ets and liabilltles Ilke trade and other debtors, cash at bank and credltors. These baslc flnanclal Insrrurnents are measured at tran5actlon prlte. Flnancial assets and liabSlltles classlfied as due wlthin one year are not amortlsed. LEGALSTATUS The charity was re8iStered wfjth the Charlty Commlsslon In England and Wales on 16 December 2022. The tharlty Is publlc beneflt entlty. On l January 2024 rtet 355ets totallln8 £999,867 were transferred from the CIO'S prede¢e$50r charfty Church land or Chlssland Icharlty number 12013731 and the CIO commenced activities on that date.
THE CHISSLANOS TRusr NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontlnued) INCOME Restrlrted UnrÉstrlct•d funds lunds Total 2024 Total 2023 Investment Income C8F Investment Fund dlvldends Interest received 27,114 275 27,114 275 27,389 27,389 Totsl Inrne 27.389 27,389 CHAR ABLE ACTIVITIES EXPENDITURE Restrlcted Unr•Mrlcted funds lundg Tt>tsl 2024 Tot•1 2023 Grants (St Swlthun's Church) Le8al and Profes51onal Fees Trustees meeting costs Computer funnlng costs Accountancy fees Honorarium 245,957 843 1,018 1,508 2,946 2,000 245,957 1.018 1.508 2,946 2,OLK) Totsl e¥p•ndSture 254.272 254,272 Included wlthin accountanry fees Is £1.866 payable to the Independent examlners lor the year end accourit5 work and £1,080 for other work Including in respect of the predecessor trust. FIXED ASSET INVESTMENTS R•strlrted Unrestrlrted funds fund5 Total 2024 Market value at l January 2024 Addltlons transfer from ChuTch land or Chlssland DIsp05als Revaluatlon proflt 976,783 I250,0) 23,273 976,783 1250,0001 23,273 Marketyalue ai 31 December 2024 750 056 750,056
ThE CHISSLANDS TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 2024 2023 CREDITORS.. amounts fallln8 due wlthin one year Other credltors Accruals 50,(M)O 1,866 51,866 UNRESTRicfED FUNDS Trnnsfer from Church Lond or Chlsslands 1st January 2024 Galns and I0e5 At end of Income Expendlture year General fund 999,867 27,389 1254,2721 23,273 796,257 27,389 2S4.272 23,273 796.257 ANALYSIS OF NET ASSETS BETWEEN FUNDS Rejtrkted unre$tted funds funth Z024 Total 31 December2024 Flxed assets Current a55et5 Current IlabllStles 750,056 98,C67 151.8661 750,OS6 98,067 151,8661 796,257 796,257 RELATED PARTr TrANSACTIONS The PCC of St Swithun'5 Headbourne Worthy Is a related party by vlrtue of common trustees. Grants were made in the year to this organisatSon in aordance with the chafStable objectives. 10