Redland Chapel Trust CONTENTS 

## Redland Chapel Trust 

TRUSTEES’ ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS 

for the year ended 

31 March 2022 

Registered Charity Number: 255141 



Redland Chapel Trust CONTENTS 

||**Page**|
|---|---|
|General information|1|
|Report of the Trustees|2 - 3|
|Independent examiner’s report|4|
|Statement of fnancial activities|5|
|Balance sheet|6|
|Notes to the fnancial statements|7 - 14|



Registered Charity Number: 255141 



Redland Chapel Trust GENERAL INFORMATION 

The Trust was founded in 1749 and is governed by its rules and is a Registered Charity No. 255141. 

## **TRUSTEES** 

## _**Nominative Trustees**_ 

Prof D N Clarke The Venerable N Warwick B Watson 

## _**Co-Optative Trustees**_ 

A C Miles _Chairman_ R Taylor A Lucas (appointed 19[th] May 2021) 

## _**Clerk to the Trustees**_ 

P O’Conor 51 Downs Park West Henleaze Bristol BS6 7QL 

## **INVESTMENT MANAGERS** 

Smith and Williamson 25 Moorgate London EC2R 6AY 

## **INDEPENDENT EXAMINER** 

Joshua Kingston, BSc., ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR 

Registered Charity Number: 255141 

1 



Redland Chapel Trust REPORT OF THE TRUSTEES for the year ended 31 March 2022 

## **Reference and administrative information** 

The Redland Chapel Trust has its administrative office at the address of the Clerk, Mr P O’Conor, 51 Downs Park West, Henleaze, Bristol, BS6 7QL. It is registered with Charity Commissioners in England and Wales under number 255141. 

The Trust was founded in 1749 and was registered as a charity from 1968. It is governed by its rules and charity schemes dated 20 February 1961, 12 December 1975 and 9 June 1987. 

## **Structure, governance and management** 

The Charity is administered by the Trustees as set out in the general information on page 1. The Trust Deed prescribes that there should be three Nominative trustees (one each from the PCCs of Redland Parish Church and Westbury  Parish Church and the third is the Archdeacon of Bristol Diocese). The power of appointing new Trustees is vested in the continuing Trustees. Induction and training of new Trustees comprises an initial meeting with the Chairman followed by further discussion with the Secretary on investments, the grant making process and the powers and responsibilities of the Trustees. 

## **Objectives and activities** 

The Objectives of the charity are, in order of priority, to apply the income received in defraying  the  cost  of  repairs  and  insurance  of  Redland  Chapel,  in  maintaining  an extraordinary repair fund for the chapel and the Minister’s house and assisting the vicar of the parish of Redland in the performance of his duties by making a grant or contributing to his stipend.  The income may also be applied to supplement the stipend of the vicar of the ecclesiastical  parish  of  Westbury-on-Trym  or  in  contributing  to  the  maintenance  and improvement of the parsonage house. 

Finally, the income is to be applied to further the religious and other charitable work of the Church of England in the parishes of Redland and Westbury-on-Trym. 

The Trustees confirm their investment policy is to provide a balance of income and capital growth. The Trustees seek to maintain a sum, assessed from time to time in the light of probable future expenditure, in cash reserves to meet that expenditure. The management of the Trust investments is delegated to Smith & Williamson who report on a regular basis to the Trustees. 

The Trustees  also resolve to seek,  where possible,  to fulfil their  charitable objects by providing funds to the parishes of Redland and Westbury-on-Trym to enable and encourage each  of  those  parishes  to  undertake  longer-term  projects  to  expand  and  develop  the pastoral activities in their respective parishes. In exercising the Trust’s charitable objects, the Trustees have considered and are satisfied that there are no conflicts of interest _._ 

The uncertainty in the stock market is a concern.  This continues to be monitored by the Trustees under the advice and guidance of their investment advisers. However, it has not adversely affected the Trust's ability to fulfil its charitable objects. 

The Trustees confirm that in setting the objectives of the Trust they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. 

## _**Financial Review**_ 

In the year, the Charity had net surplus for the year of £76,039 being £5,228 net income before investment gains and £70,811 gains on investments (2021: net surplus of £276,892). The total net assets of the Charity are £1,516,348 (2021: £1,440,309) due to the increase in the value of its investments in the year. 

Registered Charity Number: 255141 

2 



## Redland Chapel Trust REPORT OF THE TRUSTEES for the year ended 31 March 2022 

During the year the Charity maintained the extraordinary repair funds and supported the work of the two parishes by making various grants supporting their work (as set out in note 5). 

These accounts have been prepared in accordance with current statutory requirements, the Trust’s governing documents and the Charities SORP (FRS 102). 

Registered Charity Number: 255141 

3 



Redland Chapel Trust REPORT OF THE TRUSTEES ( _continued_ ) for the year ended 31 March 2022 

## **Reserves policy** 

A minimum level of reserves are held to cover all planned future expenditure, reserve levels at present are higher than this level of activity. Available reserves held at the year-end are £1,516,348 (2021: £1,440,309). 

## **Investment Policy** 

It is the Trust’s aim to maintain the real value of the investments while generating income to meet the charity’s activities. The Capital Fund is part of the General Fund and, in exceptional circumstances, it’s investments can be used to support the charity’s activities. 

## **Achievements and performance** 

During the year, the Trust continued to support the work of Redland Parish and Westbury Parish churches by providing finance for youth and families work in the parishes. The Trust also paid the insurance premium for Redland Chapel. 

## **Statement of Trustees’ Responsibilities** 

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the charity trustees  to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material  departures  that  must  be  disclosed  and  explained  in  the  financial statements; 

- prepare  the  financial  statements  on  the  going  concern  basis  unless  it  is inappropriate to presume that the Charity will continue in business; 

- observe the methods and principles in the applicable Charities SORP 

The trustees are responsible  for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the trustees on 1[st] November 2022 and signed on their behalf by: 

……………………………… 

A C Miles 

Registered Charity Number: 255141 

4 



Redland Chapel Trust
REPORT OF THE TRUSTEES (continued)
for the year ended 31 March 2022
Registered Charity Number: 255141

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF REDLAND CHAPEL TRUST 

I report to the trustees on my examination of the accounts of Redland Chapel Trust (‘the company’) for the year ended 31 March 2022, which are set out on pages 5 to 14. 

## **Responsibilities and basis of report** 

As the trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). 

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act. 

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently  does not  cover  all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes  beyond  the  limited  assurance  that  an  independent  examination  can  provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 

I  have  no  concerns  and  have  come  across  no  other  matters  in  connection  with  the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Joshua Kingston, BSc., ACA Member of the Institute of Chartered Accountants in England and Wales ON BEHALF OF Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR Chartered Accountants 

Date: 

Registered Charity Number: 255141 

6 



Redland Chapel Trust STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2022 

|for the year ended 31 March 2022|||||
|---|---|---|---|---|
|||2022||2021|
||Note|£||£|
|INCOME FROM|||||
|Investments|3|33,476||31,551|
|||-------------------------------------||---------------------------|
|EXPENDITURE ON|||||
|Raising Funds|4|9,614||7,849|
|Charitable activities|5|18,634||25,919|
|||-------------------------------------||---- ---- ----------------------|
|||28,248||33,768|
|||-------------------------------------||---- ---------------------------|
|Net income before investment gains and (losses)||5,228||(2,217)|
|Investment gains and (losses)|||6|70,811|
|||279,109|||
|||-------------------------------------||----------------------------|
|Net movement in funds||76,039||276,892|
|Total funds at 31 March 2021||1,440,309|1,163,417||
|||-------------------------------------|--------------------------------------||
|Total funds at 31 March 2022||1,516,348|1,440,309||
|||==============|||
||==============||||



All income, expenditure and movement on Investments were unrestricted for the current and preceding year. 

7 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust BALANCE SHEET as at 31 March 2022 

|Redland Chapel Trust<br>BALANCE SHEET<br>as at 31 March 2022||||
|---|---|---|---|
|||2022|2021|
||Note|£|£|
|FIXED ASSETS||||
|Investments|8|1,289,222|1,229,603|
|Tangible fxed assets|9|198,082|198,082|
|||-------------------------------------|---------------------------------------|
|||1,487,304|1,427,685|
|||-------------------------------------|-------------------------------------|
|CURRENT ASSETS||||
|Debtors|10|9,393|7,864|
|Cash at bank|11|25,851|10,810|
|||-------------------------------------|--------------------------|
|||35,244|18,674|
|CURRENT LIABILITIES||||
|Creditors:  Amounts falling due within one year|12|(6,200)|(6,050)|
|||-------------------------------------|---------------------------|
|||29,044|12,624|
|||-------------------------------------|-----------------------------------|
|TOTAL ASSETS LESS CURRENT LIABILITIES||1,516,348|1,440,309|
|||==============||
||==============|||
|FUNDS||||
|Designated Funds|13|79,023|61,828|
|General Funds|13|1,437,325|1,378,481|
|||-------------------------------------|-------------------------------------|
|||1,516,348|1,440,309|
|||==============||
||==============|||



The accounts were approved by the trustees on 1[st] November 2022 and were signed on their behalf by: 

…………………………. 

A C Miles 

…………………………. 

D N Clarke 

8 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 1 ACCOUNTING POLICIES 

## (a) **Basis of preparation and assessment of going concern** 

The Redland Chapel Trust is an unincorporated registered Charity with the Charity Commission. The registered office is 51 Downs Park West, Bristol, BS6 7QL. The principal objectives of the charity are detailed in the Report of the Trustees found on page 2 of these financial statements. 

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  notes  to  these  accounts.  The  financial statements have been prepared in sterling, which is the functional currency of the Trust, and amounts are rounded to the nearest £. The objectives of the Trust are detailed in the Report of the Trustees. 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) second edition – October 2019 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)  and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019 and therefore has applied the exemption for small charities from preparing a Statement of Cash Flows. 

The charity has adopted the Charities SORP (FRS 102) issued in October 2019  rather  than  applying  the  Charities  2005  SORP  which  has  been withdrawn  but  is  still  referred  to  in  the  extant  Charities  (Accounts  and Reports)  Regulations  2008.  This  departure  has  been  necessary  for  the financial statements to show a true and fair view in accordance with United Kingdom  Generally Accepted Accounting Practice effective for  accounting periods beginning on or after 1 January 2015. 

The trust constitutes a public benefit entity as defined by FRS 102. 

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The most significant areas of uncertainty that affect the carrying value of the assets held by the Trust are the level of investment return and the performance of investment markets (see investment policy and performance and risk management sections of the trustees’ annual report for more information). 

## (b) **Funds structure** 

All funds are unrestricted. The Accumulated Income Fund represents the fund which the Trustees are free to use in accordance with the charitable objects. The Capital Fund is a fund held to provide regular income for use in accordance with  the  objects  of  the  charity.   Any  unrealised  gains  or  losses  arising  on investments  form  part  of  the  Capital  Fund.  When  a  gain  is  realised,  it  is apportioned  between  income  and  capital  according  to  the  opening  balance. Further information is given in note 14 on pages 14 and 15. 

9 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

## (c) **Income recognition** 

All  income  is  recognised  when  the  Trust  is  entitled  to  it  and  that  it  is measurable  and  probable  that  the  Trust  will  receive  it.  Income  from investments is accounted for by reference to the payment date of distributions and interest falling due within the accounting period.  Interest on bank and other deposits is accounted for on a receipts basis; the amount of any accrued interest is not material. 

## 1 ACCOUNTING POLICIES (continued) 

## (d) **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. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (f) below. 

## (e) **Irrecoverable VAT** 

Irrecoverable VAT is charged against the expenditure heading for which it was incurred. 

## (f) **Allocation of support and governance costs** 

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.  These costs include the annual independent examination and clerks’ fees. 

## (g) **Raising funds** 

Investment management fees are charged against the capital fund. 

## (h) **Gains and losses** 

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. 

## (i) **Creditors and provisions** 

10 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust 

NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

Creditors  and  provisions  are  recognised  where  the  charity  has  a  present obligation resulting from a past event that will probably result in the transfer of funds  to  a  third  party  and  the  amount  due  to  settle  the  obligation  can  be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

11 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

- 1 ACCOUNTING POLICIES (continued) 

## (j) **Cash at bank** 

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## (k) **Tangible Fixed Assets** 

Tangible fixed assets are initially recorded at cost. 

No depreciation is charged on Redland Vicarage as the residual value at the date of acquisition was considered by the trustees to be similar to the carrying value such that the value of any accumulated depreciation charge would not be material. 

## (l) **Investment Policy** 

Investments  are  valued  at  their  mid-market  value  at  the  balance  sheet  date. Investment management costs are accounted for as incidental costs of the acquisition or disposal where transaction-based, while investment income management costs are charged as expenditure out of the relevant income funds. Unrealised and realised gains and losses are shown in the Statement of Financial Activities and recognised in the capital fund. Investment income is recognised in the general fund. 

## (m) **Financial instruments** 

The  Trust  has  elected  to  apply  the  provisions  of  Section  11  ‘Basic  Financial Instruments’ and Section 12 

‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised when the Trust becomes party to the contractual provisions of the instrument. 

Financial  assets  and  liabilities  are  offset  and  the  net  amounts  presented  in  the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a 

net basis or to realise the asset and settle the liability simultaneously. 

## _**Basic financial assets**_ 

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially 

measured  at  transaction  price  including  transaction  costs  and  are  subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the 

financial asset is measured at the present value of the future receipts discounted at a market rate of interest. 

## _**Other financial assets**_ 

Other  financial  assets,  including  trade  investments,  are  initially  measured  at  fair value, which is normally 

the transaction price. Such assets are subsequently  carried at fair value and the changes in fair value are 

12 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust 

## NOTES TO THE FINANCIAL STATEMENTS _(continued)_ 

## for the year ended 31 March 2022 

recognised in profit or loss, except that investments in equity instruments that are not publicly traded and 

whose fair values cannot be measured reliably are measured at cost less impairment. 

13 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

- 2 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS 

In the application of the Trust’s accounting policies, the Trustees are required to make judgements,  estimates  and  assumptions  about  the  carrying  amount  of  assets  and liabilities  that  are  not  readily  apparent  from  other  sources.  The  estimates  and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. 

## **Critical accounting judgements** 

## Freehold land and buildings 

It is the judgement of the Trustees’ that the residual value of the freehold land and buildings is at least equivalent to its carrying value and therefore no depreciation is provided for. 

- 3 INVESTMENT INCOME 

|INVESTMENT INCOME|||
|---|---|---|
||2022|2021|
||£|£|
|Investment income receivable – capital fund investments|33,475|31,543|
|Interest receivable|1|8|
||-------------------------------------|------------------------------------|
||33,476|31,551|
||==============||
|==============|||



## 4 RAISING FUNDS 

|RAISING FUNDS||||
|---|---|---|---|
|||2022|2021|
|||£|£|
|Smith & Williamson management fees||9,614|7,849|
|||-------------------------------------|---------------------------------------|
|||9,614|7,849|
|Charged against the Capital Fund||==============||
||==============|||



14 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

## 5 CHARITABLE ACTIVITIES 

||CHARITABLE ACTIVITIES|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||Redland Parish:|||
||Insurance on Chapel|2,443|2,442|
||Vicarage minor works (incl Diocese)|-|3,387|
||Chapel works (charged to Chapel Fund)|-|2,676|
||Redland for livestreaming|-|2,000|
||Redland Education Centre|-|5,000|
||Redland Families Worker|5,000|0|
|||-------------------------------------|-----------------------------|
|||7,443|15,505|
|||-------------------------------------|-----------------------------|
||Westbury-on-Trym Parish:|||
||Families Worker|4,320|4,320|
||Grant for iPhone|599|-|
|||-------------------------------------|-------------------------------------|
|||4,919|4,320|
|||-------------------------------------|-------------------------------------|
||Support and governance costs:|||
||Clerk to the Trustees – support costs|4,250|4,250|
||Independent examination – governance costs|2,022|1,844|
|||-------------------------------------|-------------------------------------|
|||6,272|6,094|
|||-------------------------------------|-------------------------------------|
||Total Charitable activities|18,634|25,919|
|||==============||
||==============|||
||The Trust had no employees (2020: nil) in the year.|||
|6|INVESTMENT GAINS AND LOSSES|||
|||2022|2021|
|||£|£|
||Unrealised gain/(losses) on investments|60,801|263,340|
||Realised gains/(losses) on investments|10,010|15,769|
|||-------------------------------------|-------------------------------------|
|||70,811|279,109|
|||==============||
||==============|||



- 7 TRUSTEES’ REMUNERATION AND EXPENSES 

The key management personnel of the Trust comprise the Trustees and the Clerk. No Trustee received remuneration or reimbursement for expenses during the year. The Clerk was paid £4,250 (2021: £4,250) for his services in the year (see note 5). 

15 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust 

NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

## 8 FIXED ASSET INVESTMENTS 

|8|FIXED ASSET INVESTMENTS|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||||Listed|
||Investments|||
||Market value brought forward|1,229,603|949,609|
||Additions|110,938|85,731|
||Disposals at brought forward market value|(112,120)|(69,077)|
||Net unrealised gains/(losses)|60,801|263,340|
|||-------------------------------------||
||----------------------------------------|||
|||1,289,222|1,229,603|
|||===========||
||==========|||
||**Market value as at 31 March**(note 3)|||
||Capital Fund Fixed Asset Investments|1,232,433|1,175,446|
||Redland Chapel Extraordinary Repair Fund Fixed Investments|53,324|50,852|
||Minister’s House Extraordinary Repair Fund Fixed Investments|3,465|3,305|
|||-------------------------------------|---------------------------------------|
|||1,289,222|1,229,603|
|||==========||
||==========|||
||Historical Cost of Investments|766,038|758,161|
|||==========||
||==========|||
|9|TANGIBLE FIXED ASSETS|||
|||Freehold||
|||land and buildings||
|||2022|2021|
|||£|£|
||Cost and NBV brought forward|198,082|198,082|
|||-------------------------------------|-------------------------------------|
||Cost and NBV carried forward|198,082|198,082|
|||==============||
||==============|||
||Redland Vicarage is insured for £558,832 (2021: £558,832).|||
|10|DEBTORS|||
|||2022|2021|
|||£|£|
||Due from stockbrokers – income account|4,301|4,198|
||Due from stockbrokers – investment dealing account|5,092|3,666|
|||-------------------------------------|----------------------------------------|
|||9,393|7,864|
|||==============||
||==============|||
|11|CASH AT BANK|||
|||2022|2021|
|||£|£|
||Bank|25,851|10,810|
|||-------------------------------------|--------------------------------------|
|||25,851|10,810|
|||==============||
||==============|||



16 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



Redland Chapel Trust NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

## 12 CREDITORS 

|CREDITORS||||
|---|---|---|---|
|||2022|2021|
|||£|£|
|Accruals||6,200|6,050|
|||-------------------------------------|-------------------------------------|
|||6,200|6,050|
|||==============||
||==============|||



- 13 FUNDS 

## **Purpose of Designated Funds** 

## _Redland Chapel Fund_ 

This fund is to be used for extraordinary repairs to Redland Chapel. Part of the fund is held in cash and part in investments. That part of the cost of managing the investments and that part of the appreciation in value of the investments is applied to the fund. During the year there were two transfers made to the fund totalling £10,300. 

## _Minister’s House Fund_ 

This fund is to be used for extraordinary repairs to the Minister’s House at Redland Chapel. Part of the cost of managing the investments and part of the appreciation in value  of  the  investments  is  applied  to  the  fund.  During  the  year  there  were  two transfers made to the fund totalling £4,200. 

## **Capital Fund** 

This fund holds the investments from which income is derived. Part of the fund is held in cash and part in investments. That part of the cost of managing the investments and that part of the appreciation in value of the investments is applied to the fund. It forms part of the General Fund. 

## **General Fund** 

This fund receives the income from investments and is used for any expenditure agreed by the Trustees which is not for exceptional repairs to the Chapel or Minister’s House. Any surplus is transferred to the Designated Funds. 

17 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust 

## NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 13 FUNDS (continued) 

All funds are unrestricted 

|**Funds at 31 March**<br>**2021**<br>**Held as to:**<br>Investments<br>Property (Vicarage)<br>Other Net Assets<br>**2021/22 movement**<br>Income<br>Transfer 1<br>Transfer 2<br>Expenditure<br>Investments:<br>Management fees<br>Realised gains<br>Unrealised gains<br>Total movements<br>**Funds at 31st March**<br>**2022**<br>**Held as to:**<br>Investments<br>Property (Vicarage)<br>Other Net Assets|Designated<br>Income<br>Capital<br>Genera<br>l<br>Redlan<br>d<br>Minister<br>'s<br>Total<br>Fund<br>Fund<br>Chapel<br>House<br>Funds<br>£<br>£<br>£<br>£<br>£<br>1,378,21<br>9<br>262<br>50,90<br>4<br>10,924<br>1,440,3<br>09<br>1,175,44<br>6<br>-<br>50,852<br>3,305<br>1,229,60<br>3<br>198,08<br>2<br>-<br>-<br>-<br>198,082<br>4,69<br>1<br>262<br>52<br>7,619<br>12,624|
|---|---|
||1,378,21<br>9<br>262<br>50,904<br>10,924<br>1,440,30<br>9|
||-<br>33,47<br>6<br>-<br>-<br>33,476<br>(500)<br>300<br>200<br>-<br>(14,00<br>0)<br>10,000<br>4,000<br>-<br>-<br>(18,63<br>4)<br>-<br>-<br>(18,634)<br>(9,190)<br>-<br>(398)<br>(26)<br>(9,614)<br>9,569<br>-<br>414<br>27<br>10,010<br>58,123<br>-<br>2,515<br>163<br>60,801|
||58,502<br>342<br>12,831<br>4,364<br>76,039|
||1,436,72<br>1<br>604<br>63,735<br>15,288<br>1,516,34<br>8|
||1,232,43<br>3<br>-<br>53,324<br>3,465<br>1,289,22<br>2<br>198,082<br>-<br>-<br>-<br>198,082<br> 6,206<br>604<br>10,411<br>11,823<br>29,044|
||1,436,72<br>1<br>604<br>63,735<br>15,288<br>1,516,34<br>8|



## 14 RELATED PARTIES 

During the year the Trust paid expenses to the Diocese Board of Finance, which is a related party by common control. The total amount of expenses recharged in the year was £nil 

18 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4. 



## Redland Chapel Trust 

## NOTES TO THE FINANCIAL STATEMENTS _(continued)_ for the year ended 31 March 2022 

(2021: £3,387). There were no amounts outstanding relating to this expenditure at the yearend (2021: £nil). There were no other related party transactions during the year. 

19 Registered Charity Number: 255141 These unaudited financial statements have been subjected to independent examination. See report on page 4.