Registered Charity No 204018
ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDING 31" DECEMBER 2023
Carpenter Box
Chartered Accountants
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
AT 31. DECEMBER 2023
TRUSTEES
Co-optative
Mr Pavl Williams
Lt Col Neville C N Harris
Mrlohn E Jerome MBE
Reverend john WA Harvey
Mr Rob Duncan
Nominative
Cdr Patrick T Mayfield RN
Lt Col David Ruffle
Cdr Mike Pearce RN
Ex Off icio
Col Rev Dr james Francis MBE
Clerk to Trustees
Christine Thirkell
CHARITY NUMBER
204018
OFFICE
clo Christine Thirkell
12 New Odiham Road
Alton
Hants GU34 IQD
BANKERS
NATWEST Bank
30 Wellington Street
Aldershot
Hants GUII IEB
INVESTMENT MANAGERS
Charles Stanley & Company Limited
Ropemaker Place
25 Ropemaker Street
London
EC2 9LY
INDEPENDENT EXAMINERS
Carpenter Box
Chartered Accountants
Piper House
4 Dukes Court
Bognor Road
Chichester
P019 8FX

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Registe￿￿ Charity No. 204018
TRUSTEES. REPORT FOR THE YEAR ENDING 31° DECEMBER 2023
OBJEcfs OF THE CHARITY
The Tru5tee5 shall apply the clear income of the Charity for the purpose of furthering the religious
and other charitable work of the Church of En8land amongst members and former members of the
Armed Forces of the Crown. resident or serving in the area of benefit. and the dependanls of such
member5, and the promotion of the efficiency of the Armed Force5 of the Crown by provision of
benefits not normal￿ provided out of funds of the Exchequer in accordance with The Scheme dated
2" June 1981. as later amended.
When planning activities for the year. the Trustees have considered the Charity Commission's
guidance on public benefit and. in particular. the specific guidance on charitie5 for the advancement
of religion.
MANAGEMENT OFTHE CHARITY
The adMinistrat￿on of the Charity is carried out Fn accordance with The Scheme as set out ènd issEJed
by the Charily Commissioners signed and sealed on the second of June nineteen eighty one and by
Ihe Scheme varying the Scheme signed and sealed on the fifth day of December nineteen ninety four
and the eighteenth day of April 2013. The body of Trustees shall consist of six Co-optative Trustees,
three Nominative Trustees and one Ex-officio Trustee. The Co-optative Trustees shall be persons
who through residence. oc¢upation or employment or otherwise hJve special knowledge of the area
of benefit and are appointed for a period of five years. The Nominative Trustees shèll be appointed
by the Council of the Church of England Soldiers. Sailors, & Airmen's Clubs for a period of four years.
The Ex-officio Trustee shall be selected by the Trustee5 as the seNing Senior Chaplain Regional
Command within the defined area of benefrt. All Trustees are voluntary but are entitled to
reimbursement of expenses incurred on the busines5 of the Trust. Existing Trustees may nominate
persons to fill a vacancy for a Co-optalive Trustee who will be invited to sit in at a meeting and, if all
agreed and approved, will be appointed by the Board of Trustees.
Trustees who served during the year and at the time of approval were=
Co-optative
Mr Paul Williams
Ichairmanl
Lt Col Neville C N Harris
Mrjohn Ejerome MBE
Reverend john WA Ha¥vev
Mr Tim HR Milbank to 1711/23
Mr Rob Duncan from 1711123
Nominative
Cdr Patrick T Mayfield RN
It Col David Ruffle
Cdr Mike Pearce RN
Ex Officio
Col Rev Drjames Frantis MBE

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
FINANCIAL REVIEW
The Trust is a direct SLFccessor to one founded rn 1883. The original Tnjst established the Church of
England Soldiers, and Sailors. Institute in Aldershot which provided off-duty Se￿icemen with
spiritual and recreational facilities including accommodation. As a result of tompetltion from more
modern facilities an(1 a ￿dUCtIon in the size of the 8arri50n, the Instttute eventually closed its doors
in 1971. The substantial freehold premises were sold the following year for £335,OCM) and the net
proceeds passed to the present day Trust.
Thus. over 140 years after its foundation. the successor body is continuing to provide welfare and
support. albeit in a different form, to the Armed Forces of the Crown. With the redurtion in the size
of the forces and the consequential thènge in their organi5ation and strncture. the Charity's Area of
Benefit has expanded over the years to covertwelve 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 nvestrnent
managers, Charles Slanley, is to maintain a 5e8regated portfolio with an investment split in the
range of: Equities 55-75%. Fixed Interest 1&25%. Mixed Investments Nil-IO%. 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 investment funds are subjert to the Trustee Act 2000. The
Trustees review the investment policy annually.
Major Risks
The Trustees consider that the major risks to the Trust a￿ 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 15 reviewed at each ordinary meeting of the Trustees and the investment manager5 provide
reports and a briefing on the portfolio's perfom)ance. The portfolio 15 managed to maximise income
whilst maintaining the portFolio value as far as possible In real temis. The Trustees monitor the
investment manager's guidance on the fixed interest investment. equities and cash. The investments
cover a wide spread of industries an(J markets to minimi5e the imp3Ct of any of the market's
inherent inst3bilities.
The Trust relie5 solely on the income of the investment portfolio to provide the funds for making
Brants. The Trustees commit to grants based on the merits of the applications and the availability of
funds as at the date the request is considered,. they do not commit to making gfants based upon
future income projections.

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
Grant Making Policy
The Trust only considers grant applications through Setvice channels of HM Armed Forces or from
registered charitable orEanisations where any grant would meet the remit of the Trust. Grants are
considered for specrfic projects, not for ongoing wnning costs or where other sources of funding
Should be available through HM Armed Forces. Applications for grants through Service channels
must be p￿sented to the Trustees on one of the Tnjst's application forms which must be completed
and then endorsed by the comvnanding officer and the Unit chaplain. Application5 which come frot
charitable organisations with links to the armed forces must demonslrate that the benefits from
receiving the grant will ftt within the ethos 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
reqLsire confirmation that enough fund5 have also been raised elsewhere to allow the projert to
proceed. The Trusiees always ￿quIre confirmation that funds have been received and expect to
receive letter5 of thanks once the project has been completed. Where projetts are known to have
been delhyed, the Trustees will endeavour to keep in contact with the recipient to ensure that the
project eventually proceeds and that the Trust's funds have been used for their specified purpose.
Ovenriew of Progress
Following the COVID pandemic the Trustees realised that many things had changed. Keen to attract
more grant applicants from within the Armed Services of the Crown the Trust's website has ￿en
updaled. They also increased theii area of benefit to include Gloucestershire, Somer5et. Avon,
Bristol. Devon and Cornwall. In order to make more Army Padres aware of the Trust's existence it
was decided to mail as many Army Padres in the Tnjst's area of benefit as possible wrth a letter
introducing the Trust and the welfare benefits available to them. Although initially thi5 has just been
to Army Padies it is planned that future mailings will include Padres in the Royal Air Force and Royal
Navv.
The portfolio started the year at a valuation of £1,523,395 and ended valued at £1,593,409 The
investment managers have provided quarterly reports which the Trustees have reviewed at each of
their board meetings. They have kept a close watch on the investment guidelines as the i nvestment
managers have moved to a greater weighting on equities while fixed interest returns are low. The
investment managers a150 continue to invest funds into overseas markets, to diversify the portfolio.
Following a 5Ultability review with the investment managers. the Trustees reviewed the portfolio
objectives and agreed the investment objective focus to generate income without diminishing the
capital v31ue of the portfolio in real terms.
During 2023. the total investment income amounted to £64,7731£61.7401. The income of the Trust
was utilised tn the payment of approved grants.. three grant applications were approved totalling
£11.7441£36,3001 which represent5 18%159%1 of the Trusys unrestricted rncome.
In view of the few grant application5 received in 2023 the Trustees decided to transfer £30,000 from
*ncome to their investment portfolio towards maintairbing the capttal value of the portfolio.

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
The administrative cost of managing the Trust amounted to £20.362 1£20,6071 including the
honorarium of £4.2(K) and portfolio management fees of £13.7041£14.3771.
Reserves
The reserves of the Trust amounted to £1,668.8361£1,582,4511. Out of this £1,593,4091£1.523,3951
forms a restricted fund and the remainder £75.427 1£59.0561 is unrestricted. The restricted fund is
the value of the Tmst's 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.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees a￿ required un(ler ihe Charities Act 2011 to prepare financial statements for each
finèncial 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 preparing these financial statements the Trustees are
required to..
a. Select suitable accounting policies and apply them consistentlv.
b. Make judgements and estimates that are reasonable and prudent.
State whether the policies adopted a￿ in accordance with the Slatement of Recommended
Practice ISORPI 2018 for charities applying FRS102 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 '8oing concern" basis, unless it is inappropriate to
assume that the Charity will continue to operate.
Restrict Investments in the normal way for Capital Funds of an endowment under the
Trustee Act 1981.
The Trustees ale responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial posttion of the Charity and enable them to ensure that the
financial statements comply wtlh applicable law and regulations. 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 applie(l and are true.
APPROVAL: This report was approved by the Board of Trustees on ...
signed on Tts behalf by
and was
Mr Paul Williams
Chairman

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
INDEPENDENT EXAMINER'5 REPORT
TO THE TRUSTEES OF ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
I report to the trustees on my examir7ation of the financial stalements of Alder5hot
Church of England Servi￿5 Trust Ithe charity) for the year ended 31 December 2023.
Responsibilities and basis of report
the truslees of the charity you are responsible for the preparation of the financial
statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respert of my examir)ation of the charit￿S financial statements carried out under
section 145 of the 2011 Art. In carrying out my examination I have followed all the applicable
Directions given by the Charity Commission under 5ectiOT) 14515llbl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I Confir￿ that no mètters have come to my attention. in
connection with the examination gNing me cause to believe that in any material respect..
accounting records weie not kept in respect of the charity as required by section 130 of the
2011 Art,. or
the financial statement5 do not accord with those records- or
the financial statement5 do not comply with the applicable requirements concerning
the form and content of accounts set out in the Charities IAccounts and Reports)
Regulations 2(N)8 other than any requirement that the accounts give a true and fair view
which is not a matter considered a5 part of an independent examination.
I have no concerns ènd have come across no other matters in connection with the
examination to which attention shoul(1 be drawn in this report in order to enable a proper
understanding of the financiol statements to be reached.
Claire Norwood Bsc FCA ATII
Dated..
1611012024
Carpenter Box
Piper House 4 Dukes Court
Bognor Road
Chichester
West Sussex
P019 8FX

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDEO 31" DECEMBER 2023
Total
2023
Total
2022
Notes
Restricted
Unrestricted
Income from
Investments
Total Income
64,773
64,773
64.773
64.773
61,740
61.740
Expenditure on
Raisin
Funds
Charitable Activities
13.704
13,704
18.402
14,377
42,530
5t09
18.402
Total Expenditure
13.704
18,402
32,106
56,907
Net Gain51 ILosse51 on
Investments
53.718
53,718
-203.645
Transfer
io
30,(MXJ
-30.0(YJ
Net income l expenditure &
Net Movement of fun(Is for
the Yeai
70,014
16,371
86.385
-198,813
Total Funds Brought
Forward
Total Funds Carried
forward
1,523,395
59.056
1.582.451
1,781,264
1,593.409
75.427
1,668,836
1.582,451

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
BALANCE SHEET AS AT 31" DECEMBER 2023
Notes
Restricted
Unrestricled
2023
2022
FIXED A55ETS
Investments
li
1.518,311
1.518,311
1.475.221
Investment Managers,
Capital Account
12
75.098
75.098
48,174
TOTAL
1.593,409
1,593,409
1,523,395
CURRENT ASSETS
Investment Managers,
Income Account
C35h at Bank
13
4.152
4,152
2,445
72.944
72,944
58,193
LIABILITIES
Credilors=
Amounts fallin
16
due withÉn one year
1.669
1,669
1,582
Net Current ￿Sets
75,427
75,427
59,056
Net Assets
1.593.409
75,427
1.688.836
1,582,451
THE FUNDS OF THE CHARITY
1.593.409
75,427
1.668,836
1,582.451
Approved by the Board of Trustees and signed on their behalf
Mr Paul Williams
Chairman
Date.
io-

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING 31" DECEMBER 2023
ountin
olities
Charity information
The Aldershot Church of England Services Trust is an unincorporated charity registered number
204018. The registered office is 12 New Odiham Road. Alton. Hants. GU34 IQD.
1.1 Accounting convention
These accounts have been prepared in accordance wilh -Accounting and Reporting by Charities~ the
Statement of Recommended Practice for charities applying the Financial Reporting Standard
applicable in the VK and Republic of Ireland IFRS 1021 and UK Generally Accepted Accounting
Practice as it applies from l January 2019. The charity is a Public Benefit Éntity as defined by FRS
102.
The accounts are prepared in sterlbng. which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The accounts have been prep3fed on the historical cost convention, modified to include the
revaluation of certain financial instruments at fair value. The principal accounting policies adopted
are sel Out below.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 not to
prepare a Statement of Cash Flows.
1.2 Going concern
At the time of approving the accounts. the tmstees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the
trustees continue to adopt the gohng concern basis of accounting in preparing the accounts.
1.3 Incoming resources
Investment income plus associated tax recoverable is credited to income on an accruals basis. using
dates dividends are received and daily atcrual 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 designated for other purposes.
Restricted funds are subject to specific conditions by donors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the accounts.
1.5 Resources empended
Costs of generating funds comprise stockbrokerfs fees payable for the managemeni of the Trust's
investment portfolio which provided income for the charity. VAT is included which is not recoverable
by the charity.
Charitable expenditure comprises grants that are paid in accordance with the declared objectives of
the charsty.
Governance cost5 include ihose cosls associated with meeting the constitutional and statutory
requifements 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-lerm
liquid investments with original maturities of three months or less. and bank overdrafts.
1.7 Financial instruments
li

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instnjments.
Financial instruments are reco
to the contractual provisions o
nised in the charity's balance sheet when the charity becomes party
the Instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements,
when there is a legally enforceable right to Set off the recognised amounts and there is an intention
to settle on a net basis or to realise the asset and settle the liability simultaneously.
Bosi¢fint7ncial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
tr3n5aCtion price including transaction costs and are subsequently carried at amortised 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 of
Interest. Financial assets classified as receivable wtthin one year are not amortised.
Bosicfinonciol liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transartion
price unle55 the arrangement constitutes a financing transacrion. where the debt instrument 15
measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities classified a5 payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost. using the effective interest fate
method.
Trade £redFtors 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 liabilil*es. Trade creditors are
reco8nised inttially at transactiorb price and subsequently measured at amortised cost usinE the
effective interest method.
Derecognition offinonciol liobilities
Financi31 liabilitie5 are derecognised when the CharIt￿S contractual obligations expire or a
discharged or cancelled.
1.8 Fixed Asset Investments
Fixed asset investments are initially measured at transaction price excludin
are subsequently measured at fair value at each reporting date. Changes in
tran5aclion costs, and
air value are recognised
in net Income/lexpenditU￿j for the year. Transaction costs are expensed as incurred.
2. Critical accountin
estimates and '
ements
In the application of the chariws accounting policies, the trustees are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabiltties that are not readily
apparent from other sources. The estimates and 3ssociated assumptions are based on historical
experience and other factors that are considered to be relevarit. Actual resulis may dtffer from these
estimate5.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accountin
revision a
estimates are recognised in the period in which the estimate 15 revised where the
etts only thèt period, or in the period of the revision and future period5 where the
revision affetts both current and future periods.
12

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
NOTES TO THE ACCOUNTS
3. INVESTMENT INCOME
Income from listed investment
Unrestricted
2023
£64,772.94
2022
£61,739.70
Restricted
Interest Receivable on Cash DeposrÉs
Tota
£000
£64,772.94
£0.00
£61.739.70
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 15 not
coverable by the Twst.
2023
£13.704.04
2022
£14,376 82
Charles Stanley Management Fees
Legal and Professional Fees
5. CHARITABLE ACTIVITIES
2023
£11,743.78
£6,658.43
£18.402.21
2022
£36.300.00
£6,230.37
£42.530.37
Grants
a able (see note 61
Share of governance costs lsee note 71
Total
6.GRANTS
The grants payable fi8ure of £11.744 for 2023 relates to 3 approved applications.
All grants approved were within the Trust's remit and to organi5alion5.
Organisation Type
Number of Grants
Value of Grants Approved
5ASRA
£843.78
CESSAC (Aldershot Welfare Hub)
£9,600.00
RMAS
£1,300.00
£11.743.78
Totsl
7.GOVERNANCE COSTS
2023
£4,200.00
£203.36
£404.55
£1.706.52
£144.00
£6.658.43
2022
£4,000.00
£160.21
£388.(K)
£1,610.16
£72.00
£6.230.37
Honorarium
Stationery, Postage & Honorarium Expenses
Trustee Travel Expenses
Independent Examiners fees
Website
Total
Analysed between Charitable Artivities
£6.658.43
£6,230.37
13-

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
8. INDEPENDENT EXAMINATION
The cost of the Independent Examination for the 2022 accounts which was paid for during
2023 was £1,620. The planned cost for the 2023 Independent Examination is £1,669
9.TRUSTEES' EXPENSES
All Trustees are allowed to claim expenses incurred on the business of ihe Trust. Trustees.
claims for mileage during 2023 were paid at 45p per mile.
Expense Type
Mileage
None of the Trustees received any remuneration during the year12022'. none)
Number of Trustees Claimed
Amount Claimed
£404.55
10. TRANSFERS
The transfer relates to £30,1)Xl of unrestricted funds that were added to the investment fund
with Charles Stanley.
11. INVESfMENTS
2023
Market Value
2022
Market
Value
£118,693
£511.217
Listed Investments
Cost
Cost
UK Fixed Interest
UK Equities
Overseas Fixed Interest
Overseas Equilies
Propertv
Mixed Investments
Alternatives
Total
£190,294
£432.183
£193,799
£547,594
135,940
£425,876
£434.718
£63,805
£124.510
£81.328
£1.326.838
£538,705
£38,263
£115,705
£84,245
£1.518.311
E440,340
£63,805
£124,510
£141,805
£1,332,276
£522,D66
£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
Mixed Investments
Overseas Investments
Schroder Unit Trusts US
£69,417
£89,796
5.91%
12.INVESTMENT MANAGER'S-CAPITAL ACCOUNT
2023
2022
Investment Mana
erfs Capital Account
£75,098 27
£48.173.78
This account shows the balar)ce of investments that had not been re-Énvested in the
portfolio as at the 31° December.
14

ALDERSHOT CHURCH OF ENGLAND SERVICES TRUST
13.INVESTMENT MANAGERS-INCOME ACCOUNT
2023
2022
Investment Manager's Income Account
4,15137
2,445 15
This account shows the balance of the divHlend income that is due to be paid to the Trust as
at 31. December.
14.MOVEMENT IN INVESTMENTS
Market value at 01.01_23
Additions
Valuation changes
Disposals
Market value 31.12.23
£1,475.221
£183,442
£59,720
-£200,072
£1.518,311
CarryÈng amount at 31.12.22
Carrying amount at 31.12.23
£1.475.221
£1.518,311
The investments are measured at fair value with reference to the market value of the
investment fund.
15. FINANCIAL INSTRUMENTS
2023
2022
Canying Amount of Financial Assets
Instruments measured at fair value through
profit or loss.
£1,593.409
£1,523.395
16. LIABILITIE5. Creditors, Amounts falling due wtthin one year
2023
£1.669
£1,669
2022
£1,582
£1,582
Independent Examifters fees
Total
17. EMPLOYEES. During the year the Trust had no employees12022: none)
18. RELATED PARTY TRANSACTIONS_ There were no related party transartions during the period.
12022:nonel
15-