| Contents | Page | |
|---|---|---|
| Trustees' report |
1-3 | |
| Independent Auditor's |
report | 4-6 |
| Statement offinancial |
activities | |
| Balance sheet | ||
| Notes to the financial | statements | 9-17 |
| The names o | fthe persons who were Trustees at any ti | me during the yea | r were as follow | s: | |
|---|---|---|---|---|---|
| Mr E R Bickersteth | |||||
| Mr R D Bickersteth | |||||
| Dr C R Warren | |||||
| The principal | professional advisers to the Trust are: |
||||
| Solicitors | Adams & Remers |
Auditors | Jacob Cavenagh | &Skeet | |
| Trinity House | 5 Robin Hood Lane | ||||
| School Hill | Sutton | ||||
| Lewes | Surrey | ||||
| East Sussex BN7 2NN | SM1 2SW | ||||
| Bankers | Barclays Bank Pic | Investment | M a no rbridge | Investment | |
| 63-67Terminus Road |
Advisers | Management | |||
| Eastbourne | 25 Ropemaker | Street | |||
| East Sussex BN21 3NE | London EC2Y 9LY | ||||
| Investment | Strutt &Parker | Principal | Agmerhurst | House | |
| Property | 201 High Street | Office | Kitchenham | Road | |
| Advisers | Lewes | Ashburnham | |||
| Sussex BN7 2NR | Battle TN33 | 9NB |
| Unrestricted | Unrestricted | Funds | ||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| Note | E | |||||||
| Income from: | 2 | |||||||
| Donations | 4, | 107 | 1,100 | |||||
| Rentals | 210,885 | 199,787 | ||||||
| Investments | 73,288 | 68,878 | ||||||
| Other sources | 523 | 493 | ||||||
| Total income | 288 | 803 | 270 | 258 | ||||
| Expenditure | on: | |||||||
| Raising funds | 143,319 | 158,744 | ||||||
| Charitable activities: |
||||||||
| Grants | 10 | 161,872 | 133,687 | |||||
| Support costs | 30 | 002 | 28 | 049 | ||||
| Total expenditure | 335 | 193 | 320 | 480 | ||||
| Net (expenditure) | before investment | gains | ( 46,390) | ( 50,222) | ||||
| Net gains on | investments | 234 | 753 | 877 | 869 | |||
| Net income | 188,363 | 827,647 | ||||||
| Total funds brought | forward | 8 D68 | 288 | 8 24D | 641 | |||
| Total funds carried | forward | ~92 6 | 51 |
| FO | R THE YEAR ENDED 5 | APRIL 2023 (continued) | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Total | Total | |||
| 8 | 8 | |||
| 2 | INCOME FROM: | |||
| Donations | 4 107 | 1 100 | ||
| Rentals | ||||
| Farm rents | 5,150 | 5,156 | ||
| Cottage rents | 205,485 | 194,381 | ||
| Garden rents | 250 | 250 | ||
| 210885 | 199787 | |||
| Investments | ||||
| Dividends and interest |
||||
| on listed investments | 70,640 | 67,370 | ||
| Interest on cash deposits | 2648 | 1 508 | ||
| 73288 | 68878 | |||
| Other sources | ||||
| Penhurst Churchyard |
523 | 472 | ||
| Book Income | 21 | |||
| 523 | 493 | |||
| Total income | 285803 | |||
| 3 | EXPENDITURE ON: | 2023 | 2022 | |
| Total | Total | |||
| 8 | F | |||
| Raising funds | ||||
| Investment management |
16,321 | 16,661 | ||
| Property management |
47,836 | 48,794 | ||
| Property repairs and |
maintenance | 73,341 | 88,257 | |
| Property insurance |
5821 143319 |
5032 158744 |
||
| Charitable activities |
||||
| Grants —Individuals | and institutions | 161872 | 133687 | |
| Support costs Secretarial assistance |
24,852 | 23,397 | ||
| Governance costs |
||||
| Audit fee | 4,800 | 4,320 | ||
| Trustees' expenses | 350 | 332 | ||
| 30002 | 28049 | |||
| Total expenditure | 33 3 |
480 |
| INVESTMENTS | INVESTMENTS | Investment | Investment | Listed | |
|---|---|---|---|---|---|
| properties 6 |
investments 6 |
Total 6 |
|||
| Market value | at 6 April 2022 | 7,085,980 | 1,856,520 | 8,942,500 | |
| Additions | 185,355 | 185,355 | |||
| Disposais Unrealised surplus in the year |
41 | 0270 | (203,035) ~184517 |
(203,035) 234753 |
|
| Market value | at 5April 2023 | ~70 | 5Q | ~5442 | |
| Historical cost at 5April 2023 | |||||
| MV | Cost | ||||
| Listed investments at market value comprised: |
E | 6 | |||
| UK equities | 1,438,704 | 1,157,950 | |||
| Fixed interest | investments | 198,137 | 215,342 | ||
| Cash awaiting | investment | 17481 | 17481 |
| DEBTORS | 2023 | 2022 |
|---|---|---|
| E | 6 | |
| Rents | 6,160 | 4,010 |
| Prepayments | 3,697 | |
| Other debtors | 83 | 91 |
| CREDITORS | 2023 | 2022 |
| E | E | |
| Trade creditors | 5,457 | 4,410 |
| Deferred rental income |
7,472 | 7,032 |
| Other creditors | 359 | 350 |
| Accruals | 13067 | 11700 |
| 2023 | Balance | Invest- | Balance | |||
|---|---|---|---|---|---|---|
| at | ment | at | ||||
| 6.4.22 | Income | Expenditure | gains | Transfers | 5.4.23 | |
| 6 | 6 | E | 6 | E | 6 | |
| General reserves Fixed asset reserves |
125,788 8942 50D |
288,803 | (335,193) | 234753 | 17,680 ~17680 |
97,078 9159573 |
| 2022 | Balance | Invest- | Balance | |||
| at | ment | at | ||||
| 6.4.21 6 |
Income f |
Expenditure E |
gains 6 |
Transfers E |
5.4.22 F |
|
| General reserves | 154,719 | 270,258 | (320,480) | 21,291 | 125,788 | |
| Fixed asset reserves | 8085922 | 877869 | ~27 291 | 8942 5DD | ||
| L240 641 | 2~7 | ~320650 | ~77 6 |
~68 8 |
| 8 | STAFF COSTS | STAFF COSTS | 2023 | 2022 | |
|---|---|---|---|---|---|
| Wages and | salaries | 6~7 | |||
| The number | ofemployees | during the year was: |
| 10 | SCHEDULE OF GRANTS | ||||||
|---|---|---|---|---|---|---|---|
| Advantage Africa |
850 | ||||||
| Aitken Christian Services |
600 | ||||||
| All Nations Christian College |
500 | ||||||
| Altitude Mission |
500 | ||||||
| Arts Centre Group | 500 | ||||||
| Ashburnham Chapel |
1,000 | ||||||
| Ashburnham Christian Trust |
250 | ||||||
| Ashburnham Church PCC |
1,750 | ||||||
| Barcombe PCC | 1,000 | ||||||
| Beachy Head Chaplaincy | Team | 750 | |||||
| Burning Heart |
400 | ||||||
| Care ForThe Family | 650 | ||||||
| Care Trust | 1,300 | ||||||
| Chichester Diocesan Association |
for Family Support Work (FSW) | 1,140 | |||||
| Chasah Trust |
1,300 | ||||||
| Chichester Diocesan Evangelical |
Fellowship | 500 | |||||
| Christian International Peacekeeping |
Service | 600 | |||||
| Christian Praise Children's |
Home | 650 | |||||
| East Sussex Prayer Breakfast | 900 | ||||||
| Edge Christian Ministries |
400 | ||||||
| Evangelical Alliance |
1,846 | ||||||
| Evangelical Sisterhood of |
Mary | 700 | |||||
| Freedom in Christ Ministries |
1,000 | ||||||
| Friends ofAshburnham & |
Penhurst | Churches | 900 | ||||
| Hastings Christian Trust |
600 | ||||||
| Hastings Street Pastors | 600 | ||||||
| Helping Point (India) |
750 | ||||||
| International Fellowship of |
Evangelical | Students | 600 | ||||
| international Justice Mission UK |
(IJM) | 800 | |||||
| Interserve | 500 | ||||||
| LAMA (Life And More Abundant) | Ministries | 1,250 | |||||
| Lambeth Partnership |
2,750 | ||||||
| Latin Link | 1,400 | ||||||
| LICC Ltd | 500 | ||||||
| Links International | 3,000 | ||||||
| London School ofTheology | 1,000 | ||||||
| Micah Trust | 2,500 | ||||||
| The Minster Fellowship | 1,700 | ||||||
| New Destiny Trust | 5,000 | ||||||
| Oak Hill College | 1,200 | ||||||
| Deca House Ltd | 300 | ||||||
| Balance carried forward | 44,436 | ||||||
| Page 15 |
| 10 | SCHEDULE OF GRANTS | SCHEDULE OF GRANTS | (continued) | (continued) | (continued) | ||
|---|---|---|---|---|---|---|---|
| Balance brought forward |
44,436 | ||||||
| OMF International | 2,200 | ||||||
| Open Doors | 1,500 | ||||||
| Oxford inter-Collegiate Christian |
Union | 500 | |||||
| Oxford Kilburn Youth Trust | 600 | ||||||
| Oxford Pastorate | 750 | ||||||
| Penhurst Church PCC |
600 | ||||||
| Penhurst Retreat Centre |
1,500 | ||||||
| Prison Fellowship | 1,500 | ||||||
| Release International | 600 | ||||||
| Royal Agricultural Benevolent |
Institution | (RABI) | 500 | ||||
| Royal British Legion | 100 | ||||||
| Scripture Union |
300 | ||||||
| Sharing Christ Internationally |
1,500 | ||||||
| Sidley Baptist Church | 250 | ||||||
| Spinnaker Trust |
800 | ||||||
| St Barnabas Hospice (Chestnut | Tree House) | 500 | |||||
| St Lukes Healthcare for |
the Clergy | 1,100 | |||||
| StStephen's Society |
1,900 | ||||||
| Sussex Historic Churches | Trust | 650 | |||||
| Tear Fund | 800 | ||||||
| The Lee Abbey Fellowship | 300 | ||||||
| The Stewards' Trust |
2,100 | ||||||
| The Pelham | 500 | ||||||
| The Vincent Society (CMJ) | 650 | ||||||
| Titus Trust | 1,000 | ||||||
| Trinity Fellowship | 1,200 | ||||||
| Universities &Colleges |
Christian | Fellowship | 1,200 | ||||
| Wonersh & Blackheath |
PCC | 1,600 | |||||
| Wycliffe Bible Translators | 4,550 | ||||||
| Youth with a Mission | 1,000 | ||||||
| 76,686 |
| 10 | SCHEDULE OF GRANTS (continued) | ||||
|---|---|---|---|---|---|
| Charitable grants to organisations |
(as above) | 76,686 | |||
| Charitable grant to the Chichester |
Diocesan | Fund (re Rural Officer) | 48,115 | ||
| Charitable grants to individuals (9 |
gifts made to individuals) | 14,150 | |||
| Miscellaneous: | |||||
| Books and publications | 268 | ||||
| Holidays and assistance for missionaries, | clergy | ||||
| and other Christian workers |
22 | 653 | |||
| Total of unrestricted grants |
~161 | 72 |