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2021-04-05-accounts

CHARITY NUMBER: 232791

CHAPMAN CHARITABLE TRUST

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2021

RPG CROUCH CHAPMAN LLP Chartered Accountants 5[th] Floor 14-16 Dowgate Hill London EC4R 2SU

CHAPMAN CHARITABLE TRUST

TRUSTEES’ REPORT REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 5TH APRIL 2021

TRUSTEES: Bryony Chapman
Guy Chapman
Richard Chapman
Thomas Williams
BANKERS: HSBC Bank Plc
6th Floor
165 Fleet Street
London
EC4A 2DY
STOCKBROKERS: Brewin Dolphin Securities Limited
12 Smithfield Street
London
EC1A 9BD
ACCOUNTANTS: RPG Crouch Chapman LLP
5thFloor
14-16 Dowgate Hill
London
EC4R 2SU
AUDITORS: Denmark Forrester Limited
Chartered Accountants
Office 12
Bentalls Centre
Colchester Road
Essex
CM9 4GD

CHAPMAN CHARITABLE TRUST

REPORT OF THE TRUSTEES

The trustees present their report and the audited financial statements for the year ended 5[th] April 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deeds, the Charities Act 2011 and Accounting and Reporting by Charities: 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 published on 16 July 2014.

The Trustees confirm that the Charity Commission’s general guidance on public benefit has been considered in relation to the objectives of the Charity. The report below sets out those objectives and describes how they have been met in the current year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Chapman Charitable Trust was established for general charitable purposes on 30th October 1963 by the late Mrs. Marjorie Chapman, one of her grandsons, a granddaughter and two great grandsons, served as trustees throughout the year. Sadly, Roger Chapman, an original trustee, died shortly after the September meeting. He had overseen the financial affairs of the Trust since it was established on 13[th] October 1963 and will be greatly missed.

The trustees met twice formally during the year on 14[th] September 2020 and 16[th] March 2021.

Statement Of Trustees’ Responsibilities

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with applicable law and the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Risk Assessment

The trustees have considered the risks to which the Chapman Charitable Trust is exposed and believe that these will be mitigated by:

CHAPMAN CHARITABLE TRUST

REPORT OF THE TRUSTEES - continued

OBJECTIVES AND ACTIVITIES

The trustees have powers to apply the income and capital of the Trust Fund in or towards the furtherance of such charitable purposes and objects as they from time to time think fit. The trustees have established guidelines for the use of funds available and details of grants made to areas identified are given in the Financial Review. The charities receiving grants in the year are listed in Note 8.

The online application system has proved very successful with well prepared applications being received for analysis and review by the trustees. This has enabled the trustees to develop real time monitoring of grant approvals in order to ensure support is targeted to agreed categories. The trustees monitor outcomes of larger grants when considering their long term programmes of support in areas of particular interest.

FINANCIAL REVIEW

Dividend cuts due to the Coronavirus pandemic resulted in a fall in income for the year to £265,309 (2020: £371,889). Trustees kept the investment assets under regular review and reorganized the portfolio of index-linked stocks, company shares and collective funds under an investment management agreement with Brewin Dolphin. The long term policy of the trustees is to maintain the value of the assets at least in line with inflation whilst in the short term applying all the income, after expenses, to make grants to charities in accordance with a published grant-making policy.

When the trust started the focus for grant-making was to support a few organisations suggested by the settlor and the trustees still make grants to these initial charities. As the capital of the trust has grown and the income available for grant-making has increased the focus for new grants has moved towards sectors aligned with the interests and personal family experiences of the current trustees. Grants totaling £258,000 (2020: £362,500) were made out of income under four main headings:

The grants in the year under these headings may be analysed thus:

2021 2020
£ £
Wellbeing 68,500 119,000
Environment 71,000 78,000
Arts 51,500 98,500
Care 67,000 67,000
───── ─────
258,000 362,500
═════ ═════

CHAPMAN CHARITABLE TRUST

REPORT OF THE TRUSTEES - continued

Grants are not made to individuals nor to overseas charities.

The trustees continued with the long-established policy of distributing income as it arises since the administration and operating expenses are low and do not require a reserve to be maintained. The level of income achieved in 2021 was reduced as a result of the Coronavirus pandemic and it is anticipated that grant making will be reduced in 2021/22.

FUND RAISING STATEMENT

The Chapman Charitable Trust does not engage in fundraising and therefore there are no matters to report.

Principal address: 5[th] Floor

14-16 Dowgate Hill London EC4R 2SU

R.J. CHAPMAN 5[th] October 2021

On Behalf of the Trustees

CHAPMAN CHARITABLE TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF THE CHAPMAN CHARITABLE TRUST

Opinion

We have audited the financial statements of The Chapman Charitable Trust (the ‘charity’) for the year ended 5 April 2021 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

CHAPMAN CHARITABLE TRUST

INDEPENDENT AUDITORS’ REPORT

TO THE TRUSTEES OF THE CHAPMAN CHARITABLE TRUST – continued

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out on page 2, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at:

https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx. This description forms part of our auditor’s report.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Office 12, The Bentalls Centre Denmark Forrester Limited
Colchester Road Chartered Accountants
Heybridge Statutory Auditor
Essex CM9 4GD 5thOctober 2021

Denmark Forrester Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

CHAPMAN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5TH APRIL 2021

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Unrestricted| |Income|Capital|2021|Income|Capital|2020| |Fund|Fund|Total|Fund|Fund|Total| |£|£|£|£|£|£| |Income:| |Investment income|264,223|-|264,223|371,501|-|371,501| |Interest on bank account|66|-|66|338|-|338| |Other income received|1,020|-|1,020|50|-|50| |─────|─────|───── ─────|─────|─────| |Total Income|265,309|-|265,309|371,889|-|371,889| |─────|─────|─────|─────|─────|─────| |Expenditure:| |Charitable Activities – Grants|258,000|-|258,000|362,500|-|362,500| |Support costs|5,280|23,349|28,629|7,980|23,619|31,599| |─────|─────|─────|─────|─────|─────| |Total Expenditure|263,280|23,349|286,629|370,480|23,619|394,099| |─────|─────|─────|─────|─────|─────| |Net (Expenditure)/Income|2,029|(23,349)|(21,320)|1,409|(23,619)|(22,210)| |Other Recognised Gains/(Losses)| |Gain/(Loss) on investment assets|- 1,547,119 1,547,119|- (1,562,435)(1,562,435)| |───── ────── ────── ────── ────── ──────| |Net Movement in Funds|2,029 1,523,770 1,525,799|1,409 (1,586,054)(1,584,645)| |Reconciliation of Funds| |Total funds brought forward|13,202 6,652,047 6,665,249|11,793 8,238,101 8,249,894| |───── ────── ────── ────── ────── ──────| |Total funds carried forward|15,231 8,175,817 8,191,048|13,202 6,652,047 6,665,249| |═════ ══════ ══════ ══════ ══════ ══════|

----- End of picture text -----

The notes on pages 9 to 16 form part of these financial statements.

CHAPMAN CHARITABLE TRUST

BALANCE SHEET 5TH APRIL 2021

2021 2020
Note £ £ £ £
FIXED ASSETS
Investments 4 8,168,742 6,465,245
CURRENT ASSETS
Cash and cash equivalents 5 31,739 206,002
Tax recoverable - -
───── ─────
31,739 206,002
LIABILITIES
Creditors: Amounts falling due
within one year 6 (9,433) (5,998)
───── ─────
22,306 200,004
────── ──────
NET ASSETS 8,191,048 6,665,249
══════ ══════
FUNDS OF THE CHARITY
Unrestricted funds 8,191,048 6,665,249
══════ ══════

----- Start of picture text -----
G.J.A. CHAPMAN
------------------------------------------------------ )
)
) TRUSTEES
R.J. CHAPMAN )
----------------------------------------------------- )
Date: 5 [th] October 2021
----- End of picture text -----

The notes on pages 9 to 16 form part of these financial statements.

CHAPMAN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5TH APRIL 2021

The Chapman Charitable Trust is a charitable trust established for general charitable purposes and is registered in England and Wales. Its principal place of business is 5[th] Floor, 14-16 Dowgate Hill, London EC4R 2SU.

1. ACCOUNTING POLICIES

Basis of Accounting

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102 and the reporting currency is GBP.

Going Concern

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The reduction in asset values resulting from the Coronavirus pandemic did not impact on going concern since the Trust does not have grant making commitments. There are no significant areas of adjustment and key assumptions that affect items in the accounts.

Valuation of Investments

In accordance with the Charities SORP, the investments of the Charity have been revalued at market value at the balance sheet date.

Income Recognition

Investment income is included in the accounts when received.

Expenditure Recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Restricted Funds

None of the funds held by the Charity is restricted.

Cash Flow

The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirements to prepare such a statement by virtue of its early adoption of Update Bulletin 1 of the Charities SORP (FRS 102).

CHAPMAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued

1. ACCOUNTING POLICIES – continued

Financial instruments

The Charity only enters into basic financial instruments transactions that are initially recognized at transaction value and subsequently measured at their settlement value.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2. SUPPORT COSTS

SUPPORT COSTS 2021 2020
£ £
Governance costs were as follows:
Audit fees
- current year 2,100 1,980
- prior year 1,980 -
Investment management fees 23,349 23,619
Bank charges - -
Accountancy
- current year 1,200 1,200
- prior year - 4,800
──── ────
28,629 31,599
════ ════

There were no employees in the year (2020: None) and no trustees received or waived any remuneration and there were no related party transactions.

3. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2021 2021 2021 2020 2020 2020
Unrestricted Unrestricted
Income Capital Income Capital
Fund Fund Total Fund Fund Total
£ £ £ £ £ £
Investments
at market value - 8,168,742 8,168,742 - 6,465,245 6,465,245
Cash at stockbroker
24,613
13,189 37,802 24,347 191,581 215,928
Cash at bank and
in hand (6,082)
19
(6,063) (9,945)
19
(9,926)
Debtors - - - - - -
Creditors (3,300)
(6,133)
(9,433) (1,200)
(4,798)
(5,998)
────── ────── ────── ────── ────── ──────
15,231 8,175,817 8,191,048 13,202 6,652,047 6,665,249
══════ ══════ ══════ ══════ ══════ ══════

CHAPMAN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

4. INVESTMENTS 2021 2020
£ £
Market value at 6thApril 2020 6,465,245 8,242,665
Acquisitions at cost 2,782,860 1,000,243
Disposals proceeds (2,626,482) (1,215,228)
Net gain/(loss) on revaluation or sale 1,547,119 (1,562,435)
─────── ───────
Market value at 5thApril 2021 8,168,742 6,465,245
═══════ ═══════
Investments held by the charity at the year end:
UK Fixed Interest 420,249 1,671,846
UK Equities 5,622,349 3,627,106
Overseas Equities 2,126,144 1,166,293
─────── ───────
8,168,742 6,465,245
═══════ ═══════

There was one investment held at 5[th] April 2021 which is considered material (over 5% of portfolio by value) being a Tesco Index Linked Bond 2025 valued at £420,249 (2020: £415,407).

5. CASH AND CASH EQUIVALENTS 2021 2020
£ £
Cash at bank (6,063) (9,926)
Cash at stockbroker 37,802 215,928
───── ─────
31,739 206,002
═════ ═════
6. CREDITORS 2021 2020
£ £
Audit fees 2,100 -
Accountancy fees 1,200 1,200
Investment management fees 6,133 4,798
──── ────
9,433 5,998
════ ════

7. TAXATION

The charity’s activities fall within the exemptions afforded by the provisions of the Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.

CHAPMAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued

  1. GRANTS MADE – 14[TH] SEPTEMBER 2020 2makeit 1,000 Abigail's Footsteps 1,000 Ambition Aspire Achieve 1,000 Arun and Rother Rivers Trust 1,000 Barons Court Project 1,000 Black and Blue Charitable Company 1,000 Carousel 1,000 Challengers 1,000 Changing Faces 1,000 Earth Restoration Service 1,000 Eastern Angles Theatre Company Ltd 1,000 Fields in Trust 1,000 Fight Against Blindness 1,000 Friends of Alfriston School 1,000 Fumble 1,000 Gosbecks Primary PTA 1,000 Hackney People First 1,000 Hackney Youth Orchestras Trust 1,000 Hands of Hope 1,000 Hypo Hounds 1,000 Kent Bat Group 1,000 Kids in Museums 1,000 Kids in the Spotlight (KITS) 1,000 Nightline Association 1,000 Orchestras for All 1,000 Royal Academy of Music 1,000 Scarf (Supporting children with additional needs, relatives and friends) 1,000 Starlight Children's Foundation 1,000 Stopgap Dance Company 1,000 The 10:10 Foundation (working name 'Possible') 1,000 The Children's Trust 1,000 The Community Hub 1,000 The Dalai Lama Centre for Compassion 1,000 The Dyspraxia Foundation 1,000 The JMK Trust (The James Menzies-Kitchin Memorial Trust) 1,000 The Mary Dolly Foundation 1,000 The Oesophageal Patients Association 1,000 The RSPB 1,000 Watford Sheltered Workshop 1,000 Wicked Weather Watch 1,000 Woodcroft Wildspace 1,000 YHA (England and Wales) 1,000 Alzheimer's Research UK 2,000 Bywyd Gwyllt Glaslyn Wildlife 2,000 Cardboard Citizens 2,000 Chicken Shed Theatre Trust (Chickenshed) 2,000 Clean Rivers Trust 2,000 Coram's Fields 2,000 Cruse Bereavement Care 2,000 FareShare 2,000 Food For All 2,000 ───── Carried forward

60,000

CHAPMAN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

8. GRANTS MADE – 14THSEPTEMBER 2020 - continued £
Brought forward 60,000
Keep Britain Tidy 2,000
Mahogany Opera Group 2,000
Marine Conservation Society 2,000
Oakleaf Enterprise 2,000
Organic Research Centre 2,000
Parkinson's UK 2,000
Small Woods Association 2,000
Cherry Trees 3,000
Action for Children 6,000
Ambitious about Autism 6,000
Britten Pears Arts (formerly Snape Maltings) 6,000
Care for Veterans 6,000
Leonard Cheshire 6,000
Methodist Homes (MHA) 6,000
The Fragile X Society 6,000
PAN UK 10,000
─────
129,000
═════

CHAPMAN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

  1. GRANTS MADE – 16[TH] MARCH 2021 Amgueddfa'r Môr PORTHMADOG Maritime Museum 500 Afasic 1,000 Andover Trees United 1,000 Ashden Sustainable 1,000 Autism Voice Limited 1,000 Autistica 1,000 Bat Conservation Trust 1,000 Blue Smile Project 1,000 Bromley Woodcraft Folk 1,000 Climate Ed (www.climateed.net) 1,000 Clod Ensemble 1,000 Concordia 1,000 Enham Trust 1,000 Fight for Sight 1,000 FoodCycle 1,000 GreenSeas Trust 1,000 Habitats & Heritage 1,000 Horsley, Bookham & Leatherhead Riding for the Disabled 1,000 John Muir Trust 1,000 Jumbulance Trust 1,000 Lambourne End Ltd 1,000 Manhood Wildlife and Heritage 1,000 Myaware 1,000 National Dance Company Wales (NDCWales) 1,000 Penny Brohn Cancer Care (trading as Penny Brohn UK) 1,000 Read for Good 1,000 Save Me Trust 1,000 Single Homeless Project 1,000 Slough Fort Preservation Trust 1,000 Sunbury and Walton Sea Cadets 1,000 SupportLine 1,000 The Cambridge Arts Theatre Trust Ltd 1,000 The Dot Collective 1,000 The Froglife Trust 1,000 The Maytree Respite Centre 1,000 The Movement For Non-Mobile Children (Whizz-Kidz) 1,000 The Natural History Consortium 1,000 The Orchard Project (Cause) Ltd. 1,000 Wilderness Foundation UK 1,000 Wilton's Music Hall 1,000 WRAP 1,000 Barnwell School 1,500 Chichester Ship Canal Trust 2,000 Future Trees Trust 2,000 Green Opera 2,000 Little Angel Theatre 2,000 Mountview Academy of Theatre Arts 2,000 Noah's Ark Children's Hospice 2,000 Park Theatre 2,000 Royal National Theatre 2,000 ───── Carried forward 58,000

NOTES TO THE FINANCIAL STATEMENTS

CHAPMAN CHARITABLE TRUST

- continued

  1. GRANTS MADE – 16[TH] MARCH 2021 - continued Brought forward 58,000 Surrey Wildlife Trust 2,000 The Yard Theatre 2,000 Versus Arthritis 2,000 Canolfan Gerdd William Mathias 3,000 Cherry Trees 3,000 Huntington's Disease Association 3,000 British Film Institute 4,000 A Rocha UK 6,000 Action for Children 6,000 Britten Pears Arts 6,000 Care for Veterans 6,000 Leonard Cheshire Disability 6,000 MHA (Methodist Homes) 6,000 The Fragile X Society 6,000 PAN UK 10,000 ───── 129,000

  2. 15 -