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2023-12-31-accounts

Trustees’ annual report for the period

From: 1 January 2023 To: 31 December 2023 Charity name: The Church Estate, Chalgrove Charity registration number: 254896 Company number: Not Applicable

Objectives and Activities

SORP
reference
Summary of the purposes of the
charity as set out in its governing
document		 Para 1.17 The charity’s objects are the repair, improvement and maintenance
of the fabric and furniture of the Parish Church of Chalgrove and
the maintenance of the services thereof.
Summary of the main activities in
relation to those purposes for the
public benefit, in particular, the
activities, projects or services
identified in the accounts.		 Para 1.17
and 1.19		 The fixed asset investments of the charity are held as endowment
funds.
The policies adopted in furtherance of these objects are generating
income for the charity’s investments and making grants to the
Parochial Church Council of Chalgrove Parish Church and there
has been no change in these during the year.
The charity continues to generate income through the rental of its
investment properties. The income is applied to achieve the
objects of the charity by way of providing photocopying facilities to
support services, and grants to the Parochial Church Council for
the maintenance of the fabric of the church.
Statement confirming whether the
trustees have had regard to the
guidance issued by the Charity
Commission on public benefit.		 Para 1.18 The Trustees have paid due regard to the guidance issued by the
Charity Commission on public benefit in deciding what activities
the charity should undertake.
Additional information (optional)
You may choose to include further statements where relevant about:
SORP
reference
Policy on grant making Para 1.38
Policy on social investment including
program related investment		 Para 1.38
Contribution made by volunteers Para 1.38
Other
Achievements and Performance
SORP
reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to the
circumstances of its beneficiaries
and any wider benefits to society
as a whole.		 Para 1.20 The charity met five times during the year.
The Trustees resolved the issues which had affected the tenants of
the Red Lion because of the COVID-19 Pandemic, acting to
protect the assets of the Trust.
The Trustees formally recorded the rent reviews for 2016 & 2019
and continued discussions with their agents, Carter Jonas LLP,
regarding the 2022 rent review under the Lease for the Red Lion.
The Trustees finalised new terms of business with their agents,
Carter Jonas LLP, for the Church Cottage properties.
The Trustees continued to support the parochial church council of
St. Mary’s Church, Chalgrove with the maintenance of the fabric
and services. This included a grant (limited to £4,000) for the
installation of a projector, screen and associated AV kit, conditional
on the return of the grant if any additional funds were obtained and
on the premise that the PCC would continue to look for additional
funding where possible.
Mrs. K. Mulcahy indicated her intention to resign at the end of her
term on 12 December 2023 and the trustees identified Mr. M.
Wasmuth as a replacement Co-optative Trustee and Treasurer.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP
reference
Achievements against objectives set Para 1.41
Performance of fundraising activities
against objectives set		 Para 1.41
Investment performance against
objectives		 Para 1.41
Other

Financial Review

Additional information (optional)

SORP
reference
Review of the charity’s financial
position at the end of the period		 Para 1.21 The charity continues to accumulate funds through careful
investment and management of its properties enabling it to make
grants to the Parochial Church Council of Chalgrove Parish
Church.
Mindful of the economic situation and the financial implications for
this charity all monies are placed on deposit and invested carefully
with the Central Board of Finance for the Church of England.
Statement explaining the policy for
holding reserves stating why they
are held		 Para 1.22 As a grant making charity with reasonably predictable income
sources, the trustees consider that the current level of unrestricted
reserves is sufficient for winding up of the charity.
A reserve fund (Extraordinary Repair Fund) is maintained for the
purpose of providing for the extraordinary repair, improvement
extension or rebuilding of the Parish Church of Chalgrove.
Amount of reserves held Para 1.22 £6,061.55
Reasons for holding zero reserves Para 1.22
Details of fund materially in deficit Para 1.24
Explanation of any uncertainties
about the charity continuing as a
going concern		 Para 1.23

You may choose to include further statements where relevant about:

SORP
reference
The charity’s principal sources of
funds (including any fundraising)		 Para 1.47
Investment policy and objectives
including any social investment policy
adopted		 Para 1.46
A description of the principal risks
facing the charity		 Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts: SORP
reference
Type of governing document: eg
trust deed, memorandum and
articles of association etc.		 Para 1.25 The charity was established by a charitable trust deed on 29 March
1887 as varied by a Scheme of 15 May 1967 and 22 August 1990.
How is the charity constituted? eg
limited company, unincorporated
association, CIO		 Para 1.25 Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of any
person or body entitled to appoint
one or more trustees		 Para 1.25 The trust deed stipulates seven trustees comprising three ex officio
trustees, two nominative trustees and two co-optative trustees.
The Vicar and Churchwardens of Chalgrove Parish Church are ex-
officio trustees.
The Nominative trustees are appointed by the Parochial Church
Council of Chalgrove Parish Church.
The Co-optative trustees are appointed by the other trustees.
Co-optative trustees serve for five years and the other trustees for
four years respectively.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP
reference
Policies and procedures adopted
for the induction and training of
trustees		 Para 1.51 On appointment trustees sign a declaration of acceptance and
willingness to act in the trust of the Charity in the Minute Book.
Copies of the trust deeds are provided.
Trustee induction is an informal process with serving trustees
explaining the background, relevant issues, risk factors and
financial position to incoming trustees.
The charity’s organisational
structure and any wider network
with which the charity works		 Para 1.51 The Charity is managed by the Board of Trustees who meet at
least four times during the year.
The Trustees delegate the day to day management of the rental
properties to letting agents Carter Jonas LLP.
Relationship with any related
parties		 Para 1.51
Other The Trustees have assessed the major risks to which the charity is
exposed and are satisfied that systems and procedures are in
place to mitigate exposure to those risks.

Reference and Administrative Details

Charity name The Church Estate, Chalgrove
Other name the charity uses Chalgrove Church Estate
Registered charity number 254896
Charity’s principal address The Vicarage, 58 Brinkinfield Road, Chalgrove, Oxford OX44 7QX

Names of the charity trustees who manage the charity

1
2
3
4
6
7
8
9
10
11
12		 Trustee name Office (if any) Dates acted if not for
whole year		 Name of person (or body)
entitled to appoint trustee
(if any)
Reverend Michael Lakey Chairman N/A
Mrs S W Brown Secretary N/A
Mrs P Hunt N/A
Mrs K Mulcahy 01.01.2023 – 12.12.2023
Mr B Spicer N/A
Mrs J Reeve N/A

Reference and Administrative Details (cont)

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in
this capacity		 The charity holds funds of £67.82 as custodian for the Chalgrove Ecclesiastical
Charity, registered number 275431.
Name and objects of the charity on
whose behalf the assets are held
and how this falls within the
custodian charity’s objects		 The Chalgrove Ecclesiastical Charity receives income from investments and
expends on services for sermons and holy communion.
Details of arrangements for safe
custody and segregation of such
assets from the charity’s own
assets		 The funds are invested in the CBF Church of England Investment Fund.

Additional information (optional)

Names and addresses of advisers (optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Funds held as custodian trustees on behalf of others

Description of the assets held in
this capacity		 The charity holds funds of £67.82 as custodian for the Chalgrove Ecclesiastical
Charity, registered number 275431.
Name and objects of the charity on
whose behalf the assets are held
and how this falls within the
custodian charity’s objects		 The Chalgrove Ecclesiastical Charity receives income from investments and
expends on services for sermons and holy communion.
Details of arrangements for safe
custody and segregation of such
assets from the charity’s own
assets		 The funds are invested in the CBF Church of England Investment Fund.

Additional information (optional)

Names and addresses of advisers (optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations The company has taken advantage ol the small companies, exernplion in preparing the report above. The Iruslees declare that they have approved the Iruslees. report (including directors, report) aLH)ve. Signed on behalf of the charity's Irusleesldirector SignatUTelsl Full namelsl Reverend Michael L ey Position (for example Secretary, Chair, elc.I Truslee,'Chaiiman Date Ats- oG-202

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The Church Estate, Chalgrove 254896
Receipts and payments accounts CC16a
For the period 1st Jan 2023 31st Dec 2023
To
from
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Donations and gifts 27 - - 27 6
Interest income 1,769 - - 1,769 475
Dividend income 3,874 - - 3,874 3,853
Rental income 80,925 - - 80,925 60,750
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
AR) [ 86,595 ] - - 86,595 65,084
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 86,595 - - 86,595 65,084
A3 Payments
Management costs 43,757 - - 43,757 22,100
Grant funding of activities 19,122 - - 19,122 21,720
Governance Costs 405 - - 405 435
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 63,284 ] - - 63,284 44,255
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - - -
Total payments 63,284 - - 63,284 44,255
Net of receipts/(payments) 23,311 - - 23,311 20,829
A5 Transfers between funds - - - - -
A6 Cash funds last year end 95,294 - - 95,294 74,465
Cash funds this year end 118,605 - - 118,605 95,294
----- End of picture text -----

CCXX R1 accounts (SS)

03/07/2024

1

Section B Statement of assets and liabilities at the end of the period

Categories
Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Investment properties
Shareholdings
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Retainer held by Carter Jones
Main Account
Less cheques written in current year but
not cleared
Deposit account
Details
Details
Details
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
75,044
-
-
-
43,561
-
118,605
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
1,000
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
-
Endowment
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
-
Print Name		 Endowment
funds
to nearest £
-
-
-
-
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,015,000
147,797
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval

Signed by one or two trustees on behalf of all the trustees

CCXX R2 accounts (SS)

03/07/2024

2

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Ex3miner's Report Report ts the trusttt m•mbor8 of On accounts for th• yoar ondod 316t Oe c£ 20 13 Charity no Ilf any) 2g Set out on pag I reFQrt to the trustee8 on my examinats'on of the accounts of the al)ove charity (Ihe Tntsf) for year end Re•pon•ibllitio• and As the chanty trust888 of the Tn￿. yiju are responsible for the preparation l)a•h of r•port of the accounts in acccYd￿ with ts reqLMrèments of the Charftles Act 2011 cthe Acr). I report In respec of my examinth'on of the Trust's accounts carrled out under 8e(lion 145 of the 2011 Act arKI in carying out my examination, I have folloYKd the applicoble Direction8 glven by the Gharty Comml6$lon urKler ge¢lion 145(5)(b) of the Ad. I have Gompi8ted my examination. l ¢onfimi that no rnaterlal matter8 have come to my attention {other than that dlsdosed bolow'> in connectlon wrth the examinat.on whlth gr¥88 me cause to boll•ve that in, any matari•S re$p8Ct accounting records were r￿t kopt in a¢￿KdanI￿ wlth 8ectlon 130 of theAdor the accounts do not a(￿Ord wlth the accounting record8 Ind•p•ndont •xamln•rfs 8tatoment I have no concems and h8¥é com8 acxoss no other matter8 In connectlon with examination to vthich attention should be drawn in order to enab proper understanding of ts accourrt8 to be reachèd. ' Pleas8 delete t￿ in the br8ckets rfth&y ¢) not ath. 8lgnod: aal20Z Nam•: Relevant professlonal quallllGallonls) or body (If any): Addr•s•: li Is IER Octobar 2018

Section B Disclosure Only complete rfthe examiner needs to highlight matters of con(tm (see CC32, Independent examination of thanty 8ccounts.' directions and gutdance for examiners). Give he￿ brief detall8 of any itsms that the examiner wishes to dlscloso IER OGtob•r 2010