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2025-12-31-accounts

Registered charity number: 236364

CHIPPING SODBURY TOWN LANDS CHARITY

Report of the Trustees and audited financial statements for the year ended 31 December 2025

.

CHIPPING SODBURY TOWN LANDS CHARITY

FINANCIAL STATEMENTS 2025
CONTENTS
Page
Report of the Trustees 2
Independent auditors’ report 13
Statement of financial activities 15
Balance sheet 17
Notes to the financial statements 18

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES

The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2025. The financial statements have been prepared in accordance with the Charity’s Trust Deed, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their account in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

REFERENCE AND ADMINISTRATIVE INFORMATION

Registered Charity number

236364

Principal Office

Chipping Sodbury Town Hall 57-59 Broad Street Chipping Sodbury South Gloucestershire BS37 6AD

Trustees

Mrs W Whittle, Chairlady – Co-Optative Trustee (appointed 19.05.21) A Elmore – Vice-Chairman - Co-Optative Trustee (re-appointed 24.6.25) S Hunter – Co-Optative Trustee (re-appointed 19.2.25) P Rowley – Co-Optative Trustee (appointed 27.11.24) D Blower – Co-Optative Trustee (appointed 27.11.24) A Williams - Nominative Trustee – Town Council (appointed 15.9.22) S Gibson – Nominative Trustee – Town Council (resigned 27.02.25) A Gregson – Nominative Trustee – Town Council (appointed 26.04.23) A Simmonds – Nominative Trustee – Town Trust (appointed 26.07.23) C Anderson – Nominative Trustees – Town Council (appointed 28.05.25)

Clerk to the Trustees - Mrs N Gideon

Mrs Gideon was appointed by the Trustees on the 9 April 2001 and is delegated to act upon their instructions with regard to the management of the Charity.

Auditors

Frost Wiltshire LLP Unit 2 Green Farm Business Park Folly Road Latteridge Bristol BS37 9TZ

Bankers

NatWest Bank Plc Yate Branch 5 North Walk Yate BS37 4AG

2

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Solicitors

Bevan Evemy Solicitors 55 Broad Street Chipping Sodbury South Glos BS37 6AD

Investment managers

BlackRock Investment Management (UK) Ltd 12 Throgmorton Avenue London EC2N 2DL

Contacts

Address: as Principal Address Telephone/fax: 01454 852223 Email: nicola.gideon@chippingsodburytownhall.co.uk Web: www.chippingsodburytownhall.co.uk

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure, Governance and Management

The Charity is an unincorporated Charity, constituted under a Governing Scheme dated 15 June 1977, and is a registered Charity, number 236364. The Charity is administered and managed, subject to and in conformity with the provisions of this Scheme under the title of the Chipping Sodbury Town Lands Charity, by the body of Trustees.

All Trustees give their time freely, and no remuneration or expenses were paid in the year.

Trustees

The body of Trustees consists of nine competent persons: five Co-Optative Trustees and four Nominative Trustees.

The Nominative Trustees are appointed as follows: three by the Town Council of Sodbury and one by the Trustees of the Charity called ‘Chipping Sodbury Town Trust’. Each Nominative Trustee appointment is for a term of four years. The person appointed may be, but need not be, a member of the appointing body. Prior to the conclusion of the four-year term of office, the nominating body is informed, and they either re-nominate the standing Trustee or provide a new nominee.

The Co-Optative Trustees are selected by the Trustee Body and are persons who, through residence, occupation, or employment, or otherwise, have special knowledge of Chipping and Old Sodbury. Each appointment is for a term of five years. Upon conclusion of a term of office, nominations are invited from the remaining body of Trustees and a vote carried out as soon as practicable for a subsequent appointment.

A Welcome Pack is furnished to newly appointed Trustees, consisting of a brief history of the Charity, Declarations of Appointment and Confidentiality, a copy of the Governing Scheme, a copy of the latest minutes, and a copy of the Charity Commission’s guidance ‘The Essential Trustee: What You Need to Know’. Upon appointment, they sign a formal declaration of their willingness to serve as a Trustee and a declaration of Interest.

3

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Meetings

The Trustees currently hold ordinary meetings on the fourth Wednesday of each month, with the exception of August. Detailed minutes of these meetings are provided to each Trustee by the Clerk to the Trustees prior to the meeting following.

At the first ordinary meeting in each year, the Trustees elect one of their number to be Chairman and another to be Vice-Chairman of meetings until the commencement of the first ordinary meeting in the following year. In the event of the Chairman’s absence, the Vice-Chairman assumes this role. If both Chairman and ViceChairman are absent, the Trustees present choose one of their number to be Chairman of that meeting.

At the ordinary Trustees’ meetings, the broad strategy and area of activity for the Charity is agreed, which includes consideration of grant-making, investment, capital reserves, building maintenance and improvements, and risk management policies and performance. The day-to-day administration of Grants and the processing and handling of applications prior to consideration by Trustees is carried out by the Chairman and/or the ViceChairman and Clerk (administrator).

Assisting the Trustees is a Finance Sub-Committee made up of at least three Trustees. The Finance SubCommittee meets quarterly, in January, April, July, and October, prior to the ordinary meeting in that month. The Sub-Committee has no direct control over the Charity’s finances but makes recommendations to all Trustees for an ultimate decision. The members of the Sub-Committee elect a chairman annually. The Clerk attends and takes minutes as a record.

The responsibilities of the Finance Sub-Committee are to:

  1. Monitor and review income and expenditure

  2. Maintain a running budget and report

  3. Review expenditure regarding major/longer term projects

  4. 4, Liaise with the Investment Managers and monitor performance

  5. Review annual accounts

  6. Review staff salaries annually

  7. Review hire charges in relation to the Charity’s properties

  8. Consider Grant applications, new business and buildings’ repair and maintenance costs in excess of £3,000

  9. Consider other financial matters as necessary

4

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Risk management

The Charity Trustees have considered the major risks to which the Charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trustees consider variability of investment return on the Charity’s investments to constitute the Charity’s major risk. In order to assess risk to the Charity’s investments, quarterly Finance Sub-Committee meetings were held during the year to consider the current state of the Charity’s investments and the economic climate. Quarterly Investment reports detailing the value of the Charity’s portfolio were received from BlackRock. Performance of the Investment Managers was monitored at the quarterly reviews.

Due to FCA rules, BlackRock no longer meets with the Charity on a regular basis, as it may be construed as giving financial advice, to their own benefit. Following the Charity’s transfer to being a direct unit holder of BlackRock’s Common Investment Fund, from a Retail unit holder at the beginning of Quarter 2 2013, BlackRock reports now contain much of the data passed on at the previous twice-yearly meetings.

The 12-month Client Agreement with Integrated Financial Solutions Ltd was renewed in April 2025, for the unchanged fee of £1,000 per annum, who provide the Charity with the following: -

This Agreement is reviewed on each anniversary by agreement of both parties.

The Trustees, as custodians, manage and let buildings and lands belonging to the Charity not required to be retained or occupied for the purposes of the Charity. Every lease contains a covenant for the Lessee to pay rent, maintain proper cultivation of the land, and all other usual and proper covenants applicable to the land/property. All properties are kept in good repair and insured to their full market value against fire and other usual risks. Public and Employer liabilities are also maintained.

Within the limits of its Scheme, the Trustees have the power to make, alter, or revoke rules for the regulation and management of the Charity’s properties. All Health, Safety, and Employment Acts and Regulations are strictly adhered to, with ongoing staff training and management.

Trustees declare there have been no incidents resulting in loss of funds or risk to this Charity’s properties, work, beneficiaries, or reputation during 2025.

5

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Objectives of the Charity

The objectives are set in accordance with the Governing Instrument Scheme dated 15/06/77, and the Trustees continue to give careful consideration to the Charity Commission’s general guidance on public benefit and, in particular, to its supplementary public benefit guidance with regard to the following: -

  1. To provide financial relief for needy parishioners of Chipping and Old Sodbury.

  2. To aid the promotion of education to pupils of Chipping Sodbury School.

  3. To support and maintain facilities for education for persons residing in the parishes of Chipping and Old Sodbury.

  4. To support and maintain facilities for recreation and leisure time occupation.

  5. To promote any charitable purpose for the benefit of the inhabitants of Chipping and Old Sodbury.

Policies Adopted to Achieve the Objectives:

6

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Safeguarding Policy

Chipping Sodbury Town Lands Charity has adopted and reviews annually its Policy to demonstrate its commitment to keeping safe the vulnerable people with whom it works alongside. Chipping Sodbury Town Lands Charity acknowledges its duty to act appropriately to any allegations, reports or suspicions of abuse or neglect. The Policy and its procedures are in place in order that Trustees, staff, service users/beneficiaries and carers can work to prevent harm from abuse, coercion and neglect (later all included under “abuse”) whether working online or in person, and what to do in the event of such occurring. The Charity’s Policy Statement and Procedures were drawn up in order to:

The Policy and Procedures relate to the safeguarding of all vulnerable people. Vulnerable people can be defined as:

The Trustees of the Charity will continue to work as follows: -

The Designated Named Person for Safeguarding people is the Chairman of the Trustees of Chipping Sodbury Town Lands Charity and can be contacted, via the Clerk at the Town Hall, 57-59 Broad Street, Chipping Sodbury, South Glos. BS37 6AD - Tel: 01454 852223 (mornings only).

7

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

ACTIVITIES AND ACHIEVEMENTS OF THE YEAR

Each year grants are given on an unsolicited basis to needy people living in Chipping and Old Sodbury Parishes to help cover heating bills and other winter expenses. In 2025 the amount was £15,375 distributed to 123 households .

The main grants issued in 2025 were as follows: -

General Grants –

The Charity has used a range of publicity to increase awareness of the Charity and attract Grant applications. All grant applications received are reviewed by the Trustees for approval. The Trustees do not necessarily approve grant applications in full – especially when other sources of funding are also available – but Trustees aim to provide the necessary funding for suitable applications.

The Trustees continue to support the needy and good causes of the Parishes by means of Grant aid.

Education Grants –

The additional payment of £10,000 was made to the Endowed School Foundation Governors in 2025 to meet the high level of Further Education Grant applications they had received. The Trustees review the affordability of any future additional payments at their October Finance Sub-committee meeting each year.

8

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

ACTIVITIES AND ACHIEVEMENTS OF THE YEAR (continued)

Grant Making Policy

Information regarding Grant aid is available to parish schools, clubs, and associations, including sporting clubs, health authorities, churches, and other religious orders. In addition, the Charity invites applications by annual advertisements in the local press, and information relating to the Charity is also displayed in the Town Hall and No. 61 Broad Street display windows.

Each application is reviewed against the Charity’s objectives and considered by Trustees. Retrospective applications are generally not considered. All Grants are paid at the discretion of Trustees, and no guarantee is provided of future funding to any individual applicant. Future Grants to an individual applicant are considered by Trustees only upon subsequent applications.

Applications in excess of £3,000 are submitted to the Finance Sub-Committee for consideration in terms of affordability, with recommendations made to all Trustees at the next ordinary meeting.

FINANCIAL REVIEW

The Finance Sub-Committee formed in 1999 continues to monitor the finances of the Charity.

Investments

The Charity is reliant on income from investments. The Trustees remain confident that BlackRock Fund Managers continue to review its fund ranges to ensure that the investment characteristics and positioning of its funds remain both relevant to and consistent with investment environments and expectations of its clients. The asset ratio distribution of the Charity’s investment portfolio with BlackRock remains at 75-80% BlackRock Charities UK Equity Fund and 20-25% BlackRock Charities UK Bond Fund with +/- 5% tolerances. Any future changes to this asset ratio are decided and acted upon by the Trustees. Charity Income generated from its investment is currently paid by means of quarterly dividends. During the year, £261,609 net of charges, has been received in income from dividends.

Statement of portfolio position as of 31 December 2024 £7,241,686
Statement of portfolio position as of 31 December 2025 £7,957,444
Balances
Opening balance as of 1 January 2025 £11,912,711
Net Movement of Funds £690,329
Closing balance as at 31 December 2025 £12,603,040

The operation and maintenance costs of the Charity’s Community facilities and Grant aid absorb a significant part of all income generated. Any future surplus will be used to build reserves for future planned developments.

9

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Financial Review (continued)

Investment Policy and Performance

The Charity’s investment strategy remained unchanged throughout the year. The Finance Sub-committee continues to monitor closely BlackRock Investment Management (UK) Ltd regarding the Charity’s investments and endeavours to maintain funds sufficient for long-term continuation of the Charity.

In accordance with the Governing Instrument Scheme a reserve fund has been maintained, namely the Extraordinary Repair Fund, for the purpose of providing for the extraordinary repair, improvement or rebuilding of the buildings of Chipping Sodbury Town Lands Charity. The Fund which is held by BlackRock Investment Managers (UK) Ltd is maintained by transfer to the fund of a yearly sum of £500. The Extraordinary Repair Fund was valued at £78,898 at year end.

The balance of the Charity’s Shawbrook 100 Days’ Notice Account, as of 31 December 2025, inclusive of interest, totalled £14,662 and returned an interest rate of 0.59%.

The balance of the Charity’s United Trust Bank, as of 31 December 2025, inclusive of interest, totalled £96,279 , reflecting an interest rate of 3.80% as of this date .

The balance of the Charity’s Nationwide Building Society 35 Days’ Notice Account, as of 31 December 2025, totalled £735,793, reflecting an interest rate of 2.45% as of this date .

The balance of the Charity’s Redwood Bank 35 Days’ Notice Account, as of 31 December 2025, inclusive of interest, totalled £85,000, and returned an interest rate of 2.49%.

Interest rates continue to be monitored regularly to ensure that Charity receives the best available return on its investments at minimal risk.

The Trustees allow funds to accrue in their savings accounts in anticipation of essential building maintenance and upkeep, which, given the age of its property portfolio and, in particular, the listed status of the Town Hall, can be excessive and unpredictable.

During 2025, the Charity began a programme of essential building maintenance. To support this and maintain day-to-day cash flow, an initial withdrawal of £10,000 from the Shawbrook account was actioned, with potentially further funds required in early 2026 to meet the project's ongoing costs.

10

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Financial Review (continued)

Buildings

The Charity continues to operate the Town Hall, No. 61 Broad Street, and the Old Grammar School for public hire. Because hire income only partially offsets maintenance and running costs, the Charity bridges the gap using its investment income and, when needed, its savings. This subsidy acts as an annual grant that directly fulfills the Charity’s objective of providing community facilities.

The current administration requires a 25% deposit payment upon confirmation of a booking, with the balance payable one month prior to the event or immediately if within less than one month of the event date.

Absolute titles in respect of all Charity Lands and Premises have been duly registered with HM Land Registry.

Sodbury Players continue to lease the upper floor accommodation of The Old Grammar School. The Charity receives a rental income of £5,500 per annum. Sodbury Players are a Sodbury-based amateur dramatic group.

The front room on the ground floor of the Old Grammar School continues to be leased at a peppercorn rent of £1 per annum for use as a Library. The running of this facility, under the direction of Sodbury Town Council, operates as a volunteer-based service. South Gloucestershire Council continues to assume the responsibility of the building’s internal maintenance and repairs.

Youth in Sodbury continues to lease an ex-school building at the Charity-owned St. John's School site for a peppercorn rent of £1 per annum, providing vital services to the Parish. Although their two-year lease expired on 31 August 2025, the terms have been held over to incorporate the additional independent youth counselling services available at the centre. The lease is currently being updated to include personal licences for these providers, with completion expected in early 2026.

First Steps Ltd continues to lease the neighbouring building and outside garden area as a Children’s Nursery, owned by the Charity, at a commercial rent. Their current 10-year Lease expires in August 2030 and includes a 5-year break clause. All rents are paid in a timely manner and used to support the Charity’s objectives.

Trustees appreciate the value of the Nursery provision in providing a much-needed care facility within the Town for children aged from birth to 5 years and, longer term, a regular income stream for the Charity.

A small outbuilding contained within the footprint of the Old Grammar School, namely a storage facility, has been let for a number of years at a peppercorn rent of £2 per annum to The Lions Club of Chipping Sodbury. This facility is used to store the Club’s Christmas ‘Sleigh’, used as part of their annual fundraising, in support of local projects and residents.

The two single-storey residential cottages in Horse Street continue to be let on Assured Shorthold Tenancy Agreements and generate a fair market income for the Charity to supplement its investment income.

Various parcels of agricultural land are owned by the Charity and are rented out for arable purposes. One parcel of land, close to a housing development, has been divided into five allotments and is rented to local residents at £10 per plot per annum.

11

CHIPPING SODBURY TOWN LANDS CHARITY

REPORT OF THE TRUSTEES (continued)

Catering

The catering facilities of the Town Hall continues to be leased to the concessionaire, Spotlight Sodbury Bar and Catering for a period of 5 years (effective January 2024). The Charity receives commission on the takings which, in 2025, totalled £16,929. The commission due under the current Agreement is 10% of turnover.

CURRENT PROJECTS AND FUTURE PLANS

Trustees consider the ongoing responsibilities and maintenance for the historic properties within the Charity’s portfolio. In particular, future budgeting continues in preparation of essential roof and necessary building repairs, together with ongoing redecoration schemes for the Charity’s properties. Energy expenditure remains a significant budgetary challenge for the Charity, driven largely by volatility in the global wholesale market and a substantial rise in government passthrough costs. Despite proactive efforts to manage consumption, these external inflationary pressures, including increased grid charges and statutory levies, have resulted in a marked increase in our total utility spend compared to the previous reporting period. We continue to monitor these costs closely, exploring energy-efficiency initiatives and strategic procurement options to mitigate the long-term impact on our unrestricted reserves and ensure that maximum resources remain focused on core charitable activities.

Due consideration has been given by the Trustees to ensure that all activities continue to reflect the Charity’s aims and take account of the Charity Commission’s general guidance on public benefit.

2025 Accounts

In accordance with The Charities Act 1993, the Trustees of Chipping Sodbury Town Lands Charity have prepared a financial statement for the financial year which gives 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 the financial statements, the Trustees follow best practice and

The Trustees are responsible for keeping accounting records which are such as to disclose, with reasonable accuracy, the financial position of the Charity at any time and to enable them as Trustees to ensure that the financial statements comply with Charity Law. The Trustees are also responsible for safeguarding the Charity’s assets and hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE BOARD:

…...................................................... Mrs W Whittle – Chairlady

.................................................. A Elmore – Vice Chairman

12

CHIPPING SODBURY TOWN LANDS CHARITY

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CHIPPING SODBURY TOWN LANDS CHARITY

Opinion

We have audited the financial statements of Chipping Sodbury Town Lands Charity (the “Charity”) for the year ended 31 December 2025 which comprise the Statement of Financial Activities, The 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).

This report is made solely to the Charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. 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's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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 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.

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 Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

13

CHIPPING SODBURY TOWN LANDS CHARITY

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF CHIPPING SODBURY TOWN LANDS CHARITY (continued)

Responsibilities of the trustees (continued)

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.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditor 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Frost Wiltshire LLP

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Unit 2, Green Farm Business Park Folly Road Latteridge Bristol BS37 9TZ

14

CHIPPING SODBURY TOWN LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2025

INCOME & ENDOWMENTS FROM:
Notes
Unrestricted
funds
£
Operating activities
2,3,4
157,528
Investments
2
269,429
__
Total
426,957
EXPENDITURE ON:
Charitable activities
2,3,4,5
(462,899)
_
Total
(462,899)
Gains/(losses) on investments
10,513
__
NET INCOME/(EXPENDITURE)
(25,429)
Transfer between funds
13
-
_
Net movement in funds
(25,429)
RECONCILIATION OF FUNDS:
Total funds brought forward
436,025
_____
TOTAL FUNDS CARRIED FORWARD
410,596		 Restricted
funds
£
-
-
__
-
-
_
-
715,758
__
715,758
-
_
715,758
11,476,686
_____
12,192,444		 2025
Total
funds
£
2024
Total
funds
£
157,528
156,663
269,429
268,819
__
_
426,957
425,482
(462,899)
(452,282)
__
_
(462,899)
(452,282)
726,271
95,618
__
_
690,329
68,818
-
-
__
_
690,329
68,818
11,912,711
11,843,893
__
__
12,603,040
11,912,711

15

CHIPPING SODBURY TOWN LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES: COMPARATIVES for the Year Ended 31 December 2024

INCOME & ENDOWMENTS FROM:
Notes
Unrestricted
funds
£
Operating activities
2,3,4
156,663
Investments
2
268,819
__
Total
425,482
EXPENDITURE ON:
Charitable activities
2,3,4,5
(452,282)
_
Total
(452,282)
Gains/(losses) on investments
3,608
__
NET INCOME/(EXPENDITURE)
(23,192)
Transfer between funds
13
-
_
Net movement in funds
(23,192)
RECONCILIATION OF FUNDS:
Total funds brought forward
459,217
_____
TOTAL FUNDS CARRIED FORWARD
433,025
 Restricted
funds
£
-
-
__
-
-
_
-
92,010
__
92,010
-
_
92,010
11,384,676
_____
11,476,686
 2024
Total
funds
£
2023
Total
funds
£
156,663
143,900
268,819
255,700
__
_
425,482
399,600
(452,282)
(517,249)
__
_
(452,282)
(517,249)
95,618
327,960
__
_
68,818
210,311
-
-
__
_
68,818
210,311
11,843,893
11,633,582
__
__
11,912,711
11,843,893

16

CHIPPING SODBURY TOWN LANDS CHARITY

BALANCE SHEET As at 31 December 2025

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 - - - 195
Investments
Investments 10 78,897 7,957,444 8,036,341 7,310,070
Investment property 11 - 4,235,000 4,235,000 4,235,000
_____ _____ _____ _____
78,897 12,192,444 12,271,341 11,545,265
CURRENT ASSETS
Debtors 12 2,467 - 2,467 2,467
Cash at bank and in hand 336,636 - 336,636 373,350
_____ _____ _____ _____
339,103 - 339,103 375,817
CREDITORS
Amounts falling due within one year 13 (7,404) - (7,404) (8,371)
_____ _____ _____ _____
NET CURRENT ASSETS 331,699 - 331,699 367,446
_____ _____ _____ _____
TOTAL ASSETS LESS CURRENT
LIABILITIES		 410,596 12,192,444 12,603,040 11,912,711
_____ _____ _____ _____
NET ASSETS 410,596
_____		 12,192,444
_____		 12,603,040
_____		 11,912,711
_____
FUNDS
Unrestricted funds 14 410,596 436,025
Restricted funds 12,192,444 11,476,686
_____ _____
TOTAL FUNDS 12,603,040
_____		 11,912,711
_____

The financial statements were approved by the Board of Trustees and signed on its behalf by:

..................................... Mrs W Whittle – Chairlady

.....................................

A Elmore – Vice Chairman

17

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES

Accounting convention

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.

Charitable activities

All monies paid out to individuals and institutions as grants are allocated to charitable activities. Grants are included as expenditure in the period for which the award is given.

Allocation and apportionment of costs

Overhead support costs have been allocated between the operating costs. The apportionment has been allocated on the basis of usage and is analysed later in note 6.

Investment property

Investment properties are shown at the most recent valuation. Any aggregate surplus of deficit arising from changes in market value are transferred to the Statement of Financial Activities. Depreciation is provided only on those investments properties which are leasehold and where the unexpired lease term is fewer than 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment

Taxation

The charity is exempt from tax on its charitable activities.

18

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES (continued)

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TOWN LANDS CHARITY STATEMENT OF FINANCIAL ACTIVITIES

(Including St John School Site)

ncluding St John School Site)
Unrestricted Restricted Total 2025 Total 2024
INCOME & ENDOWMENTS FROM: £ £ £ £
Donations and legacies
Donations - - - -
_____ _____ _____ _____
- - - -
Operating activities
Rent received 42,643 - 42,643 43,533
Wayleave 19 - 19 19
Lettings 11,475 - 11,475 12,388
Miscellaneous income 5,297 - 5,297 5,370
_____ _____ _____ _____
59,434 - 59,434 61,310
Investments
Dividend income 261,609 - 261,609 258,224
Deposit account interest 7,820 - 7,820 10,595
_____ _____ _____ _____
269,429 - 269,429 268,819
_____ _____ _____ _____
Total 328,863
_____		 -
_____		 328,863
_____		 330,129
_____

19

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

2. TOWN LANDS CHARITY STATEMENT OF FINANCIAL ACTIVITIES (continued)

Unrestricted Restricted Total 2025 Total 2024
£ £ £ £
EXPENDITURE ON:
Charitable activities
Surveyors fees 34,553 - 34,553 33,669
Equipment, fixtures and fittings 4,988 - 4,988 414
Depreciation 195 - 195 96
Wages and salaries 23,008 - 23,008 24,288
Social security 12,432 - 12,432 8,506
Pension 1,683 - 1,683 1,854
Telephone 3,006 - 3,006 3,144
Advertising and stationery 916 - 916 944
Accountancy 1,800 - 1,800 1,800
Legal & professional fees 12,494 - 12,494 8,728
Auditors’ remuneration 1,800 - 1,800 1,560
Sundry expenses 7,226 - 7,226 28,658
Grants to institutions 41,092 - 41,092 43,764
Grants to individuals 15,375 - 15,375 11,000
_____ _____ _____ _____
Total 160,568 - 160,568 168,426
_____ _____ _____ _____
Net income before gains 168,295
_____		 -
_____		 168,295
_____		 161,704
_____

20

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

3. TOWN HALL AND 61 BROAD STREET STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total 2025 Total 2024
INCOME & ENDOWMENTS FROM: £ £ £ £
Operating activities
Catering receipts 16,542 - 16,542 18,541
Lettings 68,360 - 68,360 62,840
_____ _____ _____ _____
Total 84,902 - 84,902 81,381
EXPENDITURE ON:
Charitable activities
Rates and water 3,397 - 3,397 3,104
Insurance 11,717 - 11,717 10,459
Light and heat 40,096 - 40,096 30,487
Refuse collection 668 - 668 1,386
Repairs and maintenance 64,503 - 64,503 101,855
Equipment, fixtures and fittings 5,932 - 5,932 2,303
Cleaning materials 1,972 - 1,972 1,910
Wages and salaries 109,103 - 109,103 93,112
Telephone - - - 265
Advertising and stationery 237 - 237 158
Legal and professional fees 293 - 293 -
Sundry expenses 1,012 - 1,012 1,792
_____ _____ _____ _____
Total 238,930 - 238,930 246,831
_____ _____ _____ _____
Net expenditure before gains (154,028)
_____		 -
_____		 (154,028)
_____		 165,450
_____

21

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

4. OLD GRAMMAR SCHOOL STATEMENT OF ACTIVITIES

Unrestricted Restricted Total 2025 Total 2024
INCOME & ENDOWMENTS FROM: £ £ £ £
Operating activities
Lettings 13,191 - 13,191 13,972
_____ _____ _____ _____
Total 13,191 - 13,191
EXPENDITURE ON:
Charitable activities
Rates and water 3,328 - 3,328 143
Light and heat 7,257 - 7,257 4,978
Refuse collection - - - 604
Repairs and maintenance 40,841 - 40,841 13,259
Wages and salaries 11,744 - 11,744 17,176
Advertising and stationery 212 - 212 -
Sundry expenses 21 - 21 864
_____ _____ _____ _____
Total 63,403 - 63,403 37,024
_____ _____ _____ _____
Net expenditure before gains (50,212)
_____		 -
_____		 (50,212)
_____		 (23,052)
_____

22

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

5. ACTIVITIES

All costs were split by activity according to usage, as follows:

Direct costs
Grants paid
Total
Support costs
Staff costs
Administration and other costs
Professional & legal fees
Equipment & maintenance costs
Total
Total of all costs 2025
Total of all costs 2024		 Raising
funds
Investment
management
costs
Charitable
activities
Total 2025
-
-
56,467
56,467
__
_
__
_
56,467
56,467
-
-
157,970
157,970
-
-
81,259
81,259
-
-
50,939
50,939
-
-
116,264
116,264
__
_
__
_
-
-
406,432
406,432
__
_
__
_
-
-
462,899
462,899
__
_
__
_
-
-
452,282
452,282

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year (2024: £nil).

Trustees' Expenses

There were no trustees' expenses paid for the year (2024: £nil).

23

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

7. STAFF COSTS

STAFF COSTS
2025
£
Wages and salaries
143,855
Social security costs
12,432
Pension costs
1,683
__
157,970
__
The average monthly number of employees during the year was as follows:
2025
£
Town Lands Charity
2
Old Grammar School
1
Town Hall
6
_____
9
 2024
£
134,576
8,506
1,854
_____
144,936
__
2024
£
2
1
6
__
9

All employee time is involved in either support to the governance of the charity or operating activities. No employees had emoluments in excess of £30,000.

8. TANGIBLE FIXED ASSETS

ANGIBLE FIXED ASSETS
Computer
equipment
£
Cost
At 1 January 2025 and 31 December 2025 4,834
_____
Depreciation
At 1 January 2025 4,639
Charge for year 195
_____
At 31 December 2025 4,834
_____
Net book value
At 31 December 2025 -
_____
At 31 December 2024 195
_____

24

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

9. FIXED ASSET INVESTMENTS

Listed
Investments
£
Market value
At 1 January 2025 7,310,070
Revaluations 726,271
_____
At 31 December 2025 8,036,341
_____
Net book value
At 31 December 2025 8,036,341
_____
At 31 December 2024 7,310,070
_____

There were no investment assets outside the UK.

These investments are held in Charinco and Charishare Investment Funds and are included at a bid valuation provided by BlackRock Investment Managers.

At 31 December 2025 the Extraordinary Repair Fund was valued at £78,897 (2024: £68,384) (unrestricted fund) and the Special Range Portfolio was valued at £7,957,444 (2024: £7,241,686) (restricted fund).

10. INVESTMENT PROPERTY

NVESTMENT PROPERTY
Listed
Investments
£
Market value
At 1 January 2025 and 31 December 2025 4,235,000
Revaluations -
_____
At 31 December 2025 4,235,000
_____
Net book value
At 31 December 2025 4,235,000
_____
At 31 December 2024 4,235,000
_____

Investment properties were valued on a fair value basis by David James & Partners on 31 October 2022.

25

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Other debtors 2,467
_____		 2,467
_____
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 360 415
Accruals and deferred income 4,995 4,995
Taxation and social security 2,049 2,961
_____ _____
7,404
_____		 8,371
_____
13. MOVEMENT IN FUNDS
Net Transfers At 31
At 1 January movement Between December
2025 in funds funds 2025
£ £ £ £
Unrestricted funds
General fund 436,025 (25,429) - 410,596
Restricted funds
Undesignated funds 11,476,686 715,758 - 12,192,444
_____ _____ _____ _____
TOTAL FUNDS 11,912,711
_____		 690,329
_____		 -
_____		 12,603,040
_____

26

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

13. MOVEMENT IN FUNDS (continued)

Net movement in funds, included in the above are as follows:

Movement
Incoming Resources Gains and in
resources expended Losses Funds
£ £ £ £
Unrestricted funds
General fund 426,957 (462,899) 10,513 (25,429)
Restricted funds
Undesignated funds - - 715,758 715,758
_____ _____ _____ _____
TOTAL FUNDS 426,957
_____		 (462,899)
_____		 726,271
_____		 690,329
_____

Restricted funds are set aside by the Trustees and represent the investment in the properties and the special range investment portfolio. These investments cannot be sold without the permission of the Charity Commission. The income relating to these investments is not restricted.

Comparatives for movement in funds

Net Transfers At 31
At 1 January movement Between December
2023 in funds funds 2024
£ £ £ £
Unrestricted funds
General fund 459,217 (23,192) - 436,025
Restricted funds
Undesignated funds 11,384,676 92,010 - 11,476,686
_____ _____ _____ _____
TOTAL FUNDS 11,843,893
_____		 68,818
_____		 -
_____		 11,912,711
_____
omparative net movement in funds, included in the above are as follows:
Movement
Incoming Resources Gains and in
resources expended Losses Funds
£ £ £ £
Unrestricted funds
General fund 425,482 (452,282) 3,608 (23,192)
Restricted funds
Undesignated funds - - 92,010 92,010
_____ _____ _____ _____
TOTAL FUNDS 425,482
_____		 (452,282)
_____		 95,618
_____		 68,818
_____

Comparative net movement in funds, included in the above are as follows:

27

CHIPPING SODBURY TOWN LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued) for the Year Ended 31 December 2025

13. MOVEMENT IN FUNDS (continued)

The combined movement for the two years ended 31 December 2025 is as follows:

Net Transfers At 31
At 1 January movement Between December
2024 in funds funds 2025
£ £ £ £
Unrestricted funds
General fund 459,217 (48,621) - 410,596
Restricted funds
Undesignated funds 11,384,676 807,768 - 12,192,444
_____ _____ _____ _____
TOTAL FUNDS 11,843,893
_____		 759,147
_____		 -
_____		 12,603,040
_____

The combined net movement in funds for the two years ended 31 December 2025, included in the above, is as follows:

Incoming Resources Gains and Movement
resources expended Losses in
£ £ £ Funds
£
Unrestricted funds
General fund 852,439 (915,182) 14,122 (48,621)
Restricted funds
Undesignated funds - - 807,768 807,768
_____ _____ _____ _____
TOTAL FUNDS 852,439
_____		 (915,182)
_____		 821,890
_____		 759,147
_____

14. RELATED PARTY TRANSACTIONS

The following grants were paid to related parties for charitable purposes during the year. Trustees declared interests in these parties before any voting took place and were not involved in the voting process.

Chipping Sodbury Town Council
Chipping Sodbury Town Football Club (Park Runners)
Chipping Sodbury Festival
Mrs N Gideon
Mr D Gideon
Ms M Willis		 2025
£
4,100
750
-
300
300
-
 2024
£
2,600
1,500
1,996
300
300
260

28

CHIPPING SODBURY TOWN LANDS CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2025

This page does not form part of the statutory financial statements

2025 2024
INCOME FROM: £ £
Operating activities
Catering receipts 16,542 18,541
Rent and land rent received 55,834 57,505
Lettings 79,835 75,228
Wayleave 19 19
Miscellaneous income 5,298 5,370
_____ _____
157,528 156,663
Investments
Dividend income 261,609 258,224
Deposit account interest 7,820 10,595
_____ _____
269,429 268,819
_____ _____
Total income 426,957 425,482
EXPENDITURE ON:
Charitable activities
Rates and water 6,725 3,247
Insurance 11,717 10,459
Light and heat 47,353 35,465
Surveyors fees 34,553 33,669
Refuse collection 668 1,990
Repairs and maintenance 105,344 115,114
Equipment, fixtures and fittings 10,920 2,717
Depreciation 195 96
Cleaning materials 1,972 1,910
Wages and salaries 143,855 134,936
Social security 12,432 8,506
Pension 1,683 1,854
Telephone 3,006 3,409
Advertising and stationery 1,365 1,102

29

CHIPPING SODBURY TOWN LANDS CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued) for the Year Ended 31 December 2025

This page does not form part of the statutory financial statements

EXPENDITURE ON:
Charitable activities (continued)
Accountancy
Legal & professional fees
Auditors' remuneration
Sundry expenses
Grants to institutions
Grants to individuals
Total expenditure
Net (expenditure)/income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
Net income/(expenditure)		 2025
£
1,800
12,787
1,800
8,259
41,092
15,375
__
462,899
_
462,899
__
(35,942)
726,271
_
690,329
 2024
£
1,800
8,728
1,560
31,314
43,764
11,000
__
452,282
_
452,282
__
(26,800)
95,618
_
68,818

30