Registered Charity No 204018
ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDING 31° DECEMBER 2022
Jones Avens Ltd
Chartered Accountsnts & Registered Auditors
Piper House
4 Dukes Court
Bognor Road
Chichester
P019 8FX

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
CONTENTS
Page
Report Cover
Contents
Trust Information, Officers & Advisors
Trustees, Report
Statement of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
io
Notes to the Accounts
Ilto15

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
TRUST INFORMATION
AT31. DECEMBER 2022
TRUSTEES
Co-optative
MrTim HR Milbank
Lt Col Neville C N Harris
Mrjohn E Jerome MBE
Reve￿nd John WA Harvey
Mr Paul Williams
Nominative
Cdr Patrick T Mayfield RN
Lt Col David Ruffle
Cdr Mike Pearce RN
Ex Officio
Col Rev Dr james Francis MBE
Clerk to Trustees
Christine Thirkell
CHARITY NUMBER
204018
OFFICE
clo Christine Thirkell
12 New O(liham Road
Alton
Hants GU34 IQD
BANKERS
NATWEST Bank
30 Wellington Street
Aldershot
Hants GUII IEB
INVESTMENT MANAGERS
Charles Stanley & Company Limited
55 Bishopsgate
London
EC2N 3AS
INDEPENDENT EXAMINERS
Jones Avens Ltd
Chartered Accountants & Registered Auditors
Piper House
4 Dukes Court
Bognor Road
Chichester
P019 8FX

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Registered Charity No. 204018
TRUSTEES, REPORT FOR THE YEAR ENDING 31" DECEMBER 2022
OBJEcfs OF THE CHARITY
The Trustees shall apply the clear income of the Charity for the purpose of furthering the religious
and other charitable work of the Church of England amongst members and former members of the
Armed Forces of the Crown. resident or serving in the area of benefit, and the depend3nt5 of such
members, and the promotion of the effitiency of the Armed Forces of the Crown by provision of
benefits not normalty provided out of funds of the Exchequer in actordance with The Scheme dated
2" June 1981, as later amended.
When planning actwities for the year. the Trustees have considered the Charity Commission's
guidance on public benefit and. in particular. the specific guidance on charities for the advancement
of religion.
MANAGEMENT OF THE CHARITY
The administration of the Charity is carried out in accordance with The Scheme as set out and issued
by the Charity Commissioners signed and sealed on the second of June nineteen eighty one and by
the Scheme varying the Scheme signed and sealed on the fifth day of December nineteen ninety four
and the eighieenth day of April 2013. The body of Trustees shall consist of six Co-optative Trustees,
three Nominative Trustees and one Ex-officio Trustee. The C(Foptative Trustees shall be persons
who through residence, occupation or employment or otheTh4ise have special knowledge of the area
of benefit and are appointed for a period of five years. The Nominative Trustees shall be appointed
by the Council of the Church of England Soldiers, Sailors. & Airmen's Clubs for a period of four year5.
The Ex-officio Trustee shall be selected by the Trustees as the seNing Senior Chaplain Regional
Command within the defined areè of benefrt. All Trustees are voluntary but are entitled to
reimbursement of expenses incurred on the business of the Trust. Existin8 Trustees may nominate
persons to fill a vacancy for a C(Foptattve Trustee who will be invited to sit in at a meeting and, if all
agreed and approved, will be appointed by the Board of Twstees.
Trustees who served during the year and at the time of approval were:
Co-optative
Mr rim HR Milbank (Chairman) to 1917/22
Mr Paul Williams
Ichairmanl from 1917122
Lt Col Neville C N Harris
Mr john E Jerome MBE
Reverend John WA Harvey
Nominative
Cdr Patrick T Mayfield RN
Lt Col David Ruffle
Cdr Mike Pearce RN
Ex Officio
The Rev'd Mark Chadwick to 18110122
Col Rev Dr James Francis MBE from 18110122

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
FINANCIAL REVIEiIi
The Trust is a direct successor to one founded in 1883. The original Trust established the Church of
England Soldiers. and Sailors. Institute in Aldershot which provided off-duty servicemen with
spiritual and recreational facilrties including accommodation. As a result of competition from more
modern facililies and a redurtion in the size of the garrison, the Institute eventually closed its doors
in 1971. The substantial freehold premises were sold the following year for £335.(X)O and the net
proceeds passed to the present doy Trust.
Thus, nearly 140 years after its foundation. the successor body is continuing to provide weware and
support. albeit in a different form. to the Armed Forces of the Crown. With the reduction in the size
of the forces and the consequential change in their organisation and structure, the Charitrfs Area of
Benefit has expanded over the years to cover twelve counties.
Investment Policy
The Trust's investment objective is to obtain maximum income compatible with a medium low
balanced level of risk. The level of risk applies to the portfolio as a whole rather than the individual
Stocks and Shares. In furtherance of this objective the current guidance. agreed with the i nvestment
managers, Charles Stanley. is to maintain a segregated portfolio with an investment split in the
range of.. Equities 55-75%. Fixed Interest ICk25%. Mixed Investments Nil-IOOA. Alternatives Nil-7.5%.
Commercial Property Nil-7.5%, Cash Nil-7.5%. The appointed investment managers manage the
portfolio on a discretionary basis. The investrnent funds are subject to the Trustee Art 2000. The
Trustees review the investment policy annualty.
Major Risks
The Trustees consider that the major risks to the Trust are inflation and a significant fall in the stock
market leading to a loss of income and devaluation of the portfolio of investments held. The
portfolio is reviewed at each ordinary meeting of the Trustees and the investment managers provide
reports an(J a briefing on the portfolio'5 performance. The portfolio is managed to maximise income
whilst maintaining the portfolio value as far as possible in real terms. The Trustees monitor the
investment manager's guidance on the fixed interest investment. equities and cash. The investments
cover a wide Sp￿ad of industries and markets to minimise the impact of any of the market's
inherent instabilities.
The Trust relies solely on the income of the investment portfolto to provide the funds for making
grants. The Trustees commit to Brants based on the merits of the application5 and the availability of
funds as at the date the request is considered.. they do not eommit to making grant5 based upon
future income projections.

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Grant Making Poli
The Trust onty Cons1de￿ grant applications through Service channels of HM Armed Forces or from
registered charttable organisations where any grant would meet the remit of the Trust. Grants are
considered for 5pecrfic projects, not for ongoing running costs or where other sources of funding
should be available through HM Am)ed Forces. Applitations for grants through Setvice channels
must be presented to the Trustees on one of the Trust's application forms which must be completed
and then endorsed by the commandrng officer and the Unit chaplain. Applications which come from
charitable organisations with links to the armed forces must demonstrate that the benefits from
receiving the grant will frt wtthin the eth05 and remit of the Aldershot Church of England Services
Trust. The Trust may pledge a contribution towards larger projects, but before releasing it they will
require confirmation that enough funds have also been raised elsewhere to allow the project to
proceed. The Trustees always require confirmation that funds have been reteived and expect to
receive letters of thanks once the project has been completed. Where projects are known to have
been delayed, the Trustees will endeavour to keep in contact with the recipient to ensure that the
project eventually proceed5 and that the Trust's funds have been used for their specified purpose.
Overview of Progress
At their January meeting the Trustees conducted a thorough review of all aspects of the Trust. They
considered that post COVID many things had Changed and they needed to review the way they
operated. The Trustees were keen to attraci MO￿ 8rant applicanls from within the Armed Services
of the Crown and to that end felt that extending their area of benefit to include Gloucestershire,
Somerset and Avon. Bristol, Devon and Cornw311 would go some way to achieving this. Once the
increased areo of benefrt had been approved the Trust's website would be updated and modernised
attracting more visitors. The Trustees fett that insufficient of the Padres within the Armed Forces
were aware of the Trust. When the website had been updated the Setvice Padres in all areas of the
Trust's area of benefit could then be informed of the work the Trust does and the welfare benefits
available to them.
The portfolio started the year at a valuation of £1.741.417 and ended valued at El,523,395 The
investment managers have provided quarterly reports which the Tnjstees have reviewed at each o*
their board meetings. They have kept a close watch on the investment 8uideline5 as the i nvestment
managers have moved to a greater weighting on equities while *ixed interest returns are low. The
investment managers also contÉnue to invest funds into overseas markets, to diversify the portfolio.
Following a suitability review with the investment managers. the Trustees reviewed the portfolio
objectives and agreed the investment objective focus to generate income without diminishing the
capital value of the portfolio in real terms.
During 2022, the total investment income amounted to £61.7401£56.5341. The income of the Trust
Wa5 Utili5ed in the payment of approved grants- four grant applications were approved totalling
£36,3001£3,2221 which represents 59%16%1 of the Trust's unrestricted income.
The administrative cost of managing the Trust amounted to £20,607 1£17,6751 including the
honorarium of £4,(MIO and portfolio management fees of £14,3771£13.8501.

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Reserves
The reserves of the Trust amounted to £1,582.4511£1,781.2641. Out of this £1.523.3951£1.741,4171
forms a restricted fund and the remainder £59.0561£39,8471 is unrestricted. The restricted fund is
the value of the Trusys investment portfolio plus any balance in the capital account. i.e. the
proceeds of disposals awaiting re-investment. which may not be distributed without prior ￿ference
to the Charity Commissioners, but which generates unrestrirted income for distribution.
STATEMEMf OF TRUSTEES, RESPONSIBIUTIES
The Trustee5 are required under the Charities Att 2011 to prepare financial statements for each
financial year which give a true and fair view of the financial activities of the Charity and of its
financial position at the end of that year. In p￿parIng these firtrancial statements the Trustee5 a
required to:
Select suitable accourhting policies and apply them tonsistently.
b. Make judgements and estimates that are reasonable aT)d prudent.
State whether the policies adopted are in accordance with the Statement of Recommended
Practice ISORPI 2018 for charities applying FR5102 and with applicable accounting standards
subject to any material departures being disclosed and explained in the financial statements.
d. Prepare the financial statements on a "goin8 concern" basis, unless it is inappropriate to
assume that the Charity will continue lo operate.
Restrict Investments in the normal way for Capital Funds of an endowment under the
Trustee Act 1981.
The Trustees are responsible for keeping proper accounting ￿CordS which disclose with reasonable
accuracy at any time the financial position of the Chartty and enable them to ensure that the
financial statements comply wtth applicable law and regulation5. They are responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
We, the Trustees confirm the above have been applied and are true.
lo
APPROVAL: This report was approved by the Board of Trustees on ..........
signed on its behalf by
Ic
. and was
Mr Paul Williams
Chairman

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
I report to the trustees on my examination of the financial statements of Alder5hot
Church of EnBland Services Trust Ithe chorityl for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial
statements in 3ccordance with the requirements of the Charities Act 2011 Ithe 2011 Actl.
I report in respect of my examination of the chariws financial statements carried out under
section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable
Directions given by the Charity Commission under section 14515llbl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my altention in
connection with the examinatiori giving me cause to believe that in any material respect=
accounting records were not kept in respect of the charity as required by section 130 of the
2011 Act- or
the financial statements do not accord with those records.. or
the financial statements do not comply wtth the applicable requirements concerning
the form and content of account5 set out in the Charitses IA¢counts and Reports)
RegulatiOT)s 2008 other than any requirement that the accounts give a true and fair view
whith is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in conneclion with the
examination to which attention should be drawn in this report in order to enable a proper
nderstanding of the financial statements to be reached.
Claire Norwood B5c FCA ATII
Dated.. 1211012023
Jones Avens Ltd
Piper House 4 Dukes Court
Bognor Road
Chichester
West Sussex
P019 8FX

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
STATEMENT OF FINANCIAL ACTivrriES
FOR THE YEAR ENDED 31° DECEMBER 2022
Total
2022
Total
2021
Notes
Restricted
Unrestricted
Income from
Investrnents
Total Income
61,740
61.740
61,740
61.740
56.534
56,534
Expenditure on
Raising Funds
Charitable Activtties
14.377
14,377
42,530
13,850
7,047
5t09
42.530
Total Expenditure
14,377
42.530
56.907
20,897
Net Gains/ (Losses) on
Investments
-203.645
-203,645
169,563
Transfer
Net income / expenditure &
Net Movement of funds for
the Year
io
-218.022
19.209
-198.813
205,200
Total Funds Brought
Forward
Total Funds Carried
Forward
1.741.417
39.847
1,781,264
1,576,063
1.523,395
59,056
1.582.451
1,781.264

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
BALANCE SHEET AS AT 31" DECEMBER 2022
Notes
Restricted
Unrestrirted
2022
2021
FIXED ASSETS
Investment5
li
1,475,221
1.475.221
1,707,429
Investment Managers,
Capital Account
12
48,174
48,174
33,988
TOTAL
1,523,395
1.523.395
1,741,417
CURRENT ASSETS
investment managers,
Income Account
Cash at Bank
13
2,445
2.445
2,763
58,193
58,193
38,592
LIABILITIES
Creditors..
Amounts falling due within one year
16
1,582
1.582
1.508
Net Current Assets
59.056
59,056
39,847
Net Assets
1.523.395
59,056
1,582,451
1.781.264
THE FUNDS OF THE CHARITY
1.523,395
59,056
1,582,451
1,781,264
Approved by the Board of Trustees and signed on their behalf
Mr Paul Williams
Chaim)an
2012
io-

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING 31. DECEMBER 2022
l. Accountin
es
Chari
inforniation
TheA
dershot Church of England Services Trust is an unincorporated charity registered number
204018. The registered office 1$ 12 New Odiham Road, Alton. Hants. GU34 IQD.
1.1 Accounting convention
These accounts have been Pfepared in accordance with -Accounting and Reporting by Charities" the
Statement of Recommended Practice for charities applying the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and UK Generally Accepted Accounting
Practice as it applies from l January 2019. The charity is a Public Benefrt Entity as defined by FRS
102.
The accounts are prepared in 5terlin& which is the fvnctional tUr￿nCY of the charity. Monetary
amounts in these financial Statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. modtfied to include the
revaluation of certain financial irTrstruments at fair value. The principal accounting policies adopted
are set out below.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 not to
prepare a Stalement of Cash Flows.
l.Z Going concèrn
At the time of approving the account5, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thu5 the
trustees continue to adopt the going concern basis of accounting in preparing the accounts.
1.3 Incoming resour¢es
Investment income plus associated tax recoverable is credited to income on an accruals basis, using
dates dtvidends are received and daily accrual for interest.
1.4 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their
charitable objectives unless the funds have been (lesignated for other purposes.
Restricted funds are SLtbject to specific conditions by donors as to how they may be used. The
purpose5 and uses of the restrirted fund5 are set out in the notes to the accounts.
1.5 Resources expended
Costs of generating funds comprise stockbrokerfs fees payable for the management of the Trust's
Investment portfolio which providèd income for the chartty. VAT is included which is not recoverable
by the charity.
Charitable expenditure comprises grants that are paid in accordarbce with the declared objectives of
the charity.
Governance costs include th￿e costs associated with meeting the constitutional and statutory
requirements of the charity and include fees and costs linked to the strategic management of the
charity.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term
liquid investments with original maturities of three months or less, and bank overdrafts.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instnJment5.
Financial instruments are reco
to the contractual provisions o
nised in the charity's balance sheet when the charity become5 Partv
the Instrument.
li

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Financial assets and liabilities are offset, wr(h the net amounts presented in the financial statements,
when there is a legally enforceable right to set off the reco
nised amount5 and there is an intention
to Settle on a nei basis or to realise the a55et and settle the
lability simultaneously.
8osi¢finoncial t7ssets'
Basic financial assets. which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using
the effectNe interest method unless the arrangement constitutes a financing transaction, where the
transaction 15 measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classrfied as receivable within one year are not amortlsed.
Bt75icfinonciol liobilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction
price unless the arrangemenl conslitutes a financing transaction, where the debt instrument is
measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities classified 3$ payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost. using the effective interest rate
method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classrfied as current liabilities if payment
is due within one year or less. If not, they are presented as non-current liabililies. Trade creditors are
recognised initially at transaction prite arbd subsequently measured at amortlsed cost usin8 the
effective interest method.
Derecognition offinonciol litsbilities
Financial liabilities are derecognised when the charity's contrartual oblig3tions expire or are
discharged or cancelled.
1.8 Fixed Asset Investments
Fixed asset investments are initially measured at transartion price excludin
are Subsequently measured at fair value at each reporting date. Change5 in
transaction costs, and
air value are reco@ni5ed
in net incomellexpenditurel for the year. Transartion costs are expensed as incurred.
2. Critical accountin
estimates and ud
ements
In the application of the chariws accounting policies, the trnstees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factor5 that are considered to be relevant. Actual results may differ from these
estimales.
The estimates and undetlying assumptions are reviewed on an ongoing basis. Revisions to
accountin
estimates are recognised in the period in which the estimate 15 revised where the
revision affects onty that period, or in the period of the revision and future perK)ds where the
revision affects both current and future periods.
12

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
NOTES TO THE ACCOUNTS
3. INVESTMENT INCOME
Income from listed investment
Unrestrirted
2022
£61.739.70
2021
£56,534.14
Restrirted
Interest Receivable on Cash Deposits
Total
£0.00
£61,739.70
£0.00
£56,534.14
4. COSTS of RAISING FUNDS
These are the investment manager's charges for the management of the investment
portfolio which provides the income for the Trust. The charges include VAT which is not
recoverable by the Trust.
2022
£14.376.82
2021
£13,849.88
Charles Stanley Management Fees
Legal and Professional Fees
5. CHARITABLE ACTIVITIES
2022
£36,300.00
£6,230.37
£42.530.37
2021
£3,222.14
£3,825. 14
£7.047.28
Grants payable Isee note 61
Share of governance costs (see note 71
Total
6.GRANTS
The grants payable figure of £36.3￿ for 2022 relates to 4 approved applicdtions.
All grants approved were wtthin the Trust's remit and to organisations.
Organisation Type
Number of Grants
Value of Grants Approved
SASRA
£2,000.00
CESSAC IAldershot Weffare Hub)
£4.800.00
CESSAC IBlandford Gimp)
£19.500.00
Blind Veterans
£io,000.Ix)
£36,300.00
Total
7.GOVERNANCE COSTS
2022
£4,(KX).00
£160.21
£388 00
£1.610.16
£72.00
£6,230.37
2021
£2,000.00
£132.60
£107.10
£1,513.44
£72.(K)
£3,825.14
Honorarium
Stalionery. Postage & Honorarium Expenses
Trustee Travel Expenses
Independent Examiner5 fees
Web51te
Totsl
Analysed between CharÈtable Activities
£6.230.37
£3.825.14
13

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
8. INDEPENDENT EXAMINATION
The cost of the Independent Examination for the 2021 accounts which wa5 paid for during
2022 was £1.536. The planned cost for the 2022 Independent Examination is £1,582.08.
9.TRUSTEES' EXPENSES
All Trustees are allowed to claim expenses incurred on the business of the Trust. Trustees,
claims for mileage during 2022 were paid at 45p per mile.
Expenge Type
Mileage
None of the Trustees received any remuneration during the year12021- none)
10. TRANSFERS
There were no transfers In the year
Number of Trustees Claimed
Amount Claimed
£388.00
11. INVESTMENTS
2022
Market Value
2021
Market
Value
£87.442
£521,765
£53.453
f688,094
£77,013
£128,854
£150.808
£1.707.429
Listed Investments
Cost
Cost
UK Fixed Interest
UK Equtties
Overseas Fixed Interest
Overseas Equilies
Property
Mixed Investments
Alternatives
Total
£135.940
£425.876
£118,693
£511.217
£86.122
£424,920
£49,818
£496.919
£63,805
£124,510
£95.295
£1,341,389
£440.340
£63,805
£124,510
£141,805
£1.332.276
£522,066
£35.322
£113,483
£174,440
£1.475.221
Included in the above are the following investments in excess of 5% of the portfolio value..
Cost
Market Value
None
None
UK Fixed Interest
Mtxed Investments
Overseas Investments
Schroder Unit Trusts US
£69,417
£80.815
5.48 %
12.INVESTMENT MANAGER'S-CAPITAL ACCOUNT
2022
2021
Investment Managerfs Capital Account
£48,173.78
£33.987.56
This account shows the balance of investments that had not been re-invested in the
portFolio a5 at the 31" December.
14-

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
13.INVESTMENT MANAGERS- INCOME ACCOUNT
2022
2021
Investment Managerfs Income Account
2,445. 15
£2.763.30
This account shows the balance of the dividend income that Is due to be paid to the Trust as
at 31" December.
14.MOVEMENTIN INVESTMENTS
Market value at 01.01.22
Additions
Valuation changes
Disposals
Market value 31.12.22
£1.707.429
£66,469
-£192,254
-£106,423
£1,475,221
Carrying amount at 31.12.21
Carrying amount at 31.12.22
£1,707,429
£1,475,221
The investments are measured at fair value with reference to the market value of the
investment fund.
15. FINANCIAL INSTRUMENTS
2022
2021
Carrying Amount of Financial Assets
Instruments measured at fair value through
profit or Ioss.
£1,523,395
£1,741,417
16. LIABILITIES. Creditors. Amounts falling due within one year
2022
£1,582
£1,582
2021
£1,508
£1.508
Independent Examiners fees
Total
17. EMPLOYEES. During the year the Trust had no employees12021.- nonel
18. RELATED PARTY TRANSACTIONS. There were no related party transactions during the period.
12021:nonel
15