IM irwinmitchell BASSIL SHIPPAiVI AND ALSFORD TRUSI REGISTERED CHARITY NUM8ER 256996 FINANCIAL STATEME orth8 A rll 2024 IR8f.. TST1100000181 BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 25699 Index to t mèn for hè èar èn d 5th A rf12024 Annual rfrpofl Independent Exafflirte¢s Report Balanee Sheèt Slalement of Financial AcliwilEs 7-14 Notes lo thg Financial Slatemenl$ 15-21 Schedule of Inveslm&nts ANNUAL REPORT For the year ended 5lh April 2024 Full name of Charity The Bassil Shippam and Alsford Trust Nature of governing document . Charitable Trust deed dated 23rd January 1967 Registratlon Number: 256996 Trustees: John Hugh Shipslone Shippam Christopher William Doman Stanley William Young Molly Hanwell Richard Tayler Susan Tr8yler Simon Alislair Erskine MacFarlane Janel Bailey Alison Swan lain Hugh MacLeod Registered Address Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex. P0191UF Principal Banker- Barclays Bank Plc, 7417S East Street, Chichester, Wesl Sussex, P019 1HR Sollcltors: Irwin Mitchell, Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex, P019 IUF Independent Examiners Carpenter Box, Piper House, 4 Dukes Court, Bognor Road. Chichester, Wesl Sussex. P019 8FX Investmènt Managers . Atomos Investments Ltd. Sl Johns Street, Chichester, Wesl Sussex. P019 1 UP and Close Brothers Asset Management Limited, 10 Crown Place, London, EC2A 4FT Operating Restrictions: Charitable objects according lo the Law of England Speclflc Investment powers: Wide unrestricted powers given lo the Trustees in the Charitable Trust Deed dated 23rd January 1967 Objects of the charity: The Selllemenl Deed authorises the Iruslees to apply the capital and income of the Trust Fund lo such charities or for such charitable purposes and in such proportions as the Iruslees may al their uncontrolled discretion determine. The trustees confim) that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objectives and in deciding what activities the Trust should undertake. GA.. 5180151 1 Oryanisation: The Trustees who served during the year and sill￿ the yèar end are sel out on page 1, The Trustees mel three limes during the year lo determine who they would support and lo Consider the future of the Trust. The slalulory power of appointment applies in Connection with the appointment of Trustees and is exercisable by the continuing and retiring Trustees. Grant maklng pollcy: The charity invites applications forfunding lo be made lo the Trustees in writing togelherwilh a summary of their proposals,. applications made by organisalions should submit a copy of any reports. accounts or forecasts. Applications are reviewed by a panel of Trustees. Financial review and Investment policy.. There are no restrictions on the Charity's power lo invest. The investment strategy is sel by the trustees for a period of live yeais and lakes account of demand for funds. The Iruslees consider the income requirements. the risk profile and the investment manager's view ol the market prospects in the medium tarm. This strategy is sel within an overall policy which slates that the funds may be invested in accordance with the Trustees, agreed investment pdicy. Our 8lralegy is reviewed with our investment managers annually. During the year incoming resour￿9 lolalled £161,40012023.' £152,191) resources expended tolalled £218,050 {2023'.£162,3001 and other recognised gains lotalled £97,703. As a result the fund balance carried forward 81 5th April 2024 was £4,273,606 12023.. £4,232,553). The majority of incoming resources consist of dividends and interest from a portfolio managed by the Iruslees, independent investment advisers, Alomo8 Investments Limited and then Close Brothers Asset Management Limited. Revlew of activities and future developments- The Trustees have ¢onlinued their policy of mainly supporting charities active in the fields of care for young and older people, health, edu¢aliDn and religion. Many of the organisalions supported are in Wesl Sussex Reserves policy: 11 is the policy of the charity lo maintain unreslricled funds. which are the free reserves of the charity, al a level which equates lo approximately six months expenditure. This provides sufficient funds to cover management and administration and support costs and lo respond lo emergency applications for grants which may arise. Unreslricled funds were maintained al this level throughout the year. Rlsk management: The Iruslees have examined the majoi slralegic, business and opeialional risks which the charity faces and confirm that systems have been established lo enable regular Teports lo be produced so that the necessary steps can be taken lo lessen these risks. Trustees. responsibilities: The trustees are responsible for preparing the financial slalemenls in accordance with applicable law and United Kingdom Generally Accepted Accountin9 Practice. Law applicable to charities in England and Wales requires the Iruslees lo prepare linancial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of ils financial position al the end of the year. In preparing those financial statements giving a true and fair view, the Iruslees should follow best practice and." select suitable accounting policies and then apply them consi5tently', observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followed subject lo any departures disclosed and explained in the financial slalèmenls". and prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. GA.. 5180151 I The trustees are responsible for ke&ping accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounls and Reports) Regulations 2008 and the provisions of the trust deed. They are aL80 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other iriegulariliès. Approved by the Trustees and signed on their beha￿.. J H S Shippam 1610112025 GA.. 5180151 1 P8ge 4 BASSIL SHIPPAM AND ALSFORD TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BASSIL SHIPPAM AND ALSFORD TRUST I report to the trustees on my exarnin8tion of thè financlal statements of Bassil Shippam and Alsford Trusl Ithe charity) lor the year ended 5 April 2024. Responslbllltlp$ and ba81s of report As th8 trusteès ol the eharily you are ￿ponSIble for th8 preparation ol the financial statements in accordance with the requirements of the Charitie5 Act 2011 (the 2011 Actl. I r8W)rt in 18spect of my examination of the charily's financial statements c&ttied out under section 14S ol the 2011 Act In carrying out my examination I have followed all th& 8pplicab18 Dirèctions given by the Charity Commission under section 14515llbl of the 2011 Act. Independont examln8rf8 statem•nt I have completed rry examination. I confirm that no matiers have come to my alienlion in conn8Ction with the examination gi￿ng me cause to believe that In any material respe¢t.' accounting records were not kept in ie5pect ol the charily as required by sedion 130 of the 2011 Aet or the financial statements do not a¢cord with those record5', or th8 financial 5tatementsdo not comply with the applicab￿ requirements COn￿rning the fomi and content of aceounts set out in the Charities (A￿O￿ntS and R8POrtsl Regulations 2008 other than any requirgment that the accounts give a true and fair view which is not a matter considered as part of an independent examinats'on. I have no concerns ard have come across no other matters in connection with the examination lo which attention should drawn in thi5 r8POrt in order to enable a proper understanding of th8 financial stalements lo be reached. Claire Nowoocl Bsc FCA ATII Carpentei Box Piper House 4 Dukes Court Bognor Road Chichester West Sussex P019 8FX 1610112025 Dated.. 8680162.1 J 0> Pau& 6 BASSIL SHIPPAM AND ALSFORD T REGISTERED CHARITY NUMBER 25699 Statem oar trndètl 5th A rll 2024 enditure Account Includln Incomfr and Ex Gèneral Unrèstrlctod Fund Y9ar endèd Yoar ondod 5A.23 Not6 INCOME & EXPENDITURe Incomlng Resourcè8 Invesltnenls Totsl Incomlng R8sourc88 161.400.40 161,400.40 152.191.41 152.191.41 Resourc￿ gxp?ndod Raising Funds (25,178.291 115,892.791 ¢haritsble actlvillets 1192,872.001 (146,407.001 Total R080urces Exponded 1216,050.291 (162,299.791 Nèt Ioutgolngl R&sourc6s for tho Yaar 156,649.891 110,108.381 Net Galn$llL05s9s1 on Investments Realised ILossesllGains on disposal of fi¥ed asset investments LossesllGains on revaluation offixed assel in￿st￿entS 117,914.051 115,616.71 (171.291.951 1128.263.311 Net lexpgndilurgvincomè 41,052.77 (309,663.641 Fund balance brou9hl foward 5.4.23 Fund balance carrlgd forward 5.4.24 4.232.553.31 4.273.606.08 4,542.216 95 4,232,553.31 The above results derive from continuing aclivilies. The Charity has no recognised gains or losses other Ihan those dealt with ID Ihe Statement of Finan¢ial Acti¥ilEes The noles on pages 7 10 14 forrn part of these actounls. BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to the Accounts for the ear ended 5th A ril 2024 1 ACCOUNTING POLICIES The Bassil Shippam and Alsford Trust is an unincorporated charity, ￿gIStered with the Charity Commission number 256998. The registered address is Thomas Eggar House, Friary Lane, Chichester, Wesl Sussex. P019 1 UF 1.1 ACCOUNTING CONVENTION The financial slalements have been prepared in accordance with Charities Act 2011 and 'Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" las amended for accounting periods commencing from 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102. The accounts are prepared in sterling. which is the functional currency of th8 charity. The ac¢oLJnts have been prepared on the historical cost Convention modified for the revalLJation of inveslmenls. The principal accounting policies adopted are sel out below. 1.2 GOING CONCERN Al the lime of approving the accounts, the trustees have reasonable expectation that the charity has adequate resour¢es lo continue in operational existence for the foreseeable future. Thus the Iruslees. continue lo adopt the going concern basis ol accounting in preparation ol the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discretion of the Iruslees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Incoming Rèsource5 Incoming resources includes investment income, which is recognised when the charity has a legal right to the income. The gain or loss arising on the dispos81 of an asset is determined as the difference between the sale PToceeds and the carrying value of the asset, and is recognised in nel incomellexpondilurel for the year. 1.4 GRANTS PAYABLE Grants payable are debited lo expenditure within tho Statement of Financial Activities in the period lo which they relate. Where a grant commitment is payable over a period of more than one year, a liability is recognised for the full amount of the conslruclive obligation unless conditions are allached lo future payments such that the trustees effectively relain the discretion lo avoid making such payments. 1.5 INVESTMENTS AND INVESTMENT INCOME All investments are staled al fair value and the movement shown comprises both re81ised and unrealised gains and losses. BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to the Accounts for the ear ended 5th A ril 2024 Realised gains or losses arlsing on the disposal of investments Ilogelher with provisions for diminution in value}, are credited or debited lo the Statement of Financial Activities, and subsequently transferred to Unrestricted Funds. 1.6 CHARITABLE ACTIVITIES The cost of charitable activities consists of grants made. 1.7 COST OF GENERATING FUNDS The cost of generating funds consists of investment management fees. 1.8 GOVERNANCE COSTS Governance ¢osts comprise all costs involving the public accoun18bilily of the charity and ils compliance with regulation and good practice. These costs include costs related to slalulory audit and legal fees together with other overhead and support costs. 1.9 CASH AND CASH EQUIVALENTS Cash and cash equivalents include detx)sils held al call with banks. 1.10 FINANCIAL INSTRUMENTS The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and section 12'01her Financial Instruments Issues. of FRS 102 to all of ils financial instruments, Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when there Is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which includes debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a financing transaction. where the transaction is measured al the present value of the future receipts discounted al a m8rkel rale of interest. Financial assets ¢lassified as re￿1vable within one year are not amortised. Impairment of financial assets Financial assets, other than those held 81 fair value through income and expenditure, are assessed for indi¢alors of impairment al each reporting dale. Financial assets are impaired where there is objective evidence that, as a result one or more events that OCCUTred after the Inllial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the dIffe￿nCe between the carrying amount and the present value of the eslimaled cash flows discounted al the asset's origin81 effective interest rate. The impairment loss is recognised in nel incomellexpendilurel for the year. If there is a decrease in the impaimenl loss arising from an event occurring after the impairment was re¢ognised, the impairment is reveised. The reversal is such that the current carrying amount does not exceed what the Carrying amount would have been, had the impairment previously been recognised. The impairment revorsal is recognised in nel incomel{expendilurel for the year. BASSIL SHIPPAM ANDALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to the Accounts for the ear ended 5th A ril 2024 Basic financlal Ilabllltles Basic financial liabililies, including trade and other payables. are initially rewgnised al transaction price unless the arrangement conslilules a financing transaction. where the debt instrument is measured al the present value of the future receipts discounted al a market rate of interest. Debt instruments are subsequently carried al amortised cost. using the effective interest Tate method. Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classed as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade payables are recognised initially al transaction pr￿e and subsequently measured at amortised cost using the effective nleresl method. Derecognition of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's conlradual obligations expire oi are discharged or ¢an¢elled. 2. CRITICALACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's accounting policies, the Iruslees are required to make judgements. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estirllales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The eslimales and underlying assumplions are reviewed on 8n ongoing basis. Revisions lo a¢counling eslimales are recognised in the period in which the estimate is revised where the revision affects only Ihal period, or in the period ol thè revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Page qo BASSIL SHIPPAM AND ALSFORD TRUSI REGISTERED CHARITY NUMBER 256996 Notes to tho Accounts for th? rBn 5th A rll 2024 Ygar èndèd Yoar ended 5.4.23 3. FIXED ASSET INVESTMENTS ISumm&ry of pagÈs 1510 211 Ouoled inveslmenls and portfolio ¢ash MarkÈl Valije 6th April 2023 Portfolio cash 8th April 2023 Addilions IncreasellDecre8sel in cash held on portfollo Dispo8818 Nel unrealised Ik)ssllgaln 4.161.723.(X) 95.038.25 978.525.82 114,862.271 11.058.323.531 115.616 71 4.277.717.98 4,511,(M)8.30 40,714.84 3.332,382.14 54,323.41 13.553,404.131 128,263.31 4,256,761.25 Historical cost of li$le(S Inveslm8n18 4 094 881.00 4.180,293.00 Lisled inveslmenls Cash he￿ in portfdio for inveslmenl 4,197,542.00 80.175.98 4.277,717.98 4.161,723.00 95 038.25 4,256.761.25 There are no inv8slments which represents greater Ihan S% of Ihe porifolro by market value DEBTORS.. Aiomos inieresl due HM Revenue & Customs 053 153.94 154.47 103.69 153.94 257.63 5. CASH.. Bank accounts Interest bearing deposit a£wunl 79,267.13 40.494.17 y) C* c> v> ox Pagfy 12 BA551L SHIPPAM AFID ALSFORD TRUST REGISTEREOCHARITYN MBER 2 tothB ArGounts rorihe tarendèd St DetBrmin*d Poymgnts Oytstsndlny At6A.24 0.00 0.00 5,000.00 2,500.00 10 CHARITABLE GRANTS PAYABLE Demeniia Support Josh Amesbury Tnist Res￿￿1•-CYE W4$lDgan Scholaiship Fund Donning￿7 Hou9e Care Ho Bible Soclety ston8pillow CYE Saliig Centre Kilrnamock Hois8 R6scuè QEean Youth Trusisouth Newell Ceniieknsocialb)n Church Pa$io[al Sa(xpty Sussex SnDwdropTruS1 Wesl Wllerln9 Memori* Hall Diggblity challenger AF Concern W¢stSuss Ch•rry Treg? W951 SusseXCounty$￿6 Stud￿8 Tru91 ¢hichègterCity Artscentro LLP StWrllfed$ Ho$pJc@ South Tall Ships Youth Twgt 14 St Mark5 Brownles Swih Downs PlaDelarium Chthestei Btys Club 5.000.00 50000 10.000.00 5.QOD.00 10.UOD.00 200.00 2.000.00 5,000.00 s,000.00 500 00 s.￿0 DO 2.500.00 15.600 00 10D.QO 1.ik)O.00 2.500.00 1.000.00 500.00 2.822.00 200.OQ 500.00 2,000.00 500.00 500.OD 500.00 1,000.00 500.OD s,uoo.oD 1.000.00 500.OD 1S,000.OQ 20,000.OQ 1,000.00 250.00 800.00 350.00 250.00 350.00 1,000.00 200.00 5UQ.00 200.00 1,000.00 250.00 500.00 760.00 800.00 1.000.00 300.00 1,000.00 1.500 00 0.00 500.00 250 DO 500.00 300.00 soo.00 250.00 0.00 soo.00 500.00 350.00 350.00 1,000.00 500.00 500.00 500.00 3,500.00 1,000.00 500.00 soo.00 250.LII 1,UOO.00 250.00 500.00 750.00 500.OD 3,000.00 2.000.OQ 280.00 500.00 2.500.OQ 500.OD 500.00 350.00 500.00 25000 250.00 fjoo.oo 122.872.00 10.03.21 130422 02.12.22 020823 31.03.23 31.03.23 310223 06.04.23 12.04.23 140423 09.05.23 09.05.23 01 122J 19.05.23 24.05.23 24.05.23 28.02.24 07.06.23 04.07.23 07.07.23 13.07.23 21.07.23 26.07.23 27.07.23 27.07.23 27.07.23 27.07.23 27.07.23 27.07.23 28.07.23 01.08.23 01.08.23 01.08.23 23.08.23 23.OB.23 23.08.23 25.08.23 25.08.23 31.08.23 31.08.23 20.09.23 29.09.23 È9.09.23 02.10.23 03.10.23 03.10.23 o.oo o.oo 5.800.00 100.00 I,OW.00 2.5￿.00 0.00 0.00 1.￿0 00 500 00 2.822.00 200.uo 500.00 2,￿000 500.00 500.00 500.00 1,00000 500.00 s,000 00 I,oou 00 500.00 15,000 00 60,000.00 1.000.00 250.00 8(M).00 350.00 250.00 350.00 1.OOD.00 200.00 5ao.00 200.OD 1.000.00 250.OQ S00.OD 750.00 5ao.00 1.000.00 300.00 1.000.QD 1.500.00 500.00 500.00 250.00 5ao.00 300.00 500.OQ 250.OD 500.00 500.00 500.00 350.00 350.00 1,000.00 500.00 5a0.00 500.00 1500.00 I,000.OD 500.00 6QO.00 250.00 1.000.00 2S0.00 500.00 75U.00 500.00 3,00000 2,000.00 250.00 500 00 2,500.00 500.00 soo uo 350.00 600 00 350.00 250 S00.(WJ 136.272.00 0.00 0.00 0.00 0.00 0.00 o.oo 0.00 0.00 0.00 40.000. 0.00 0.00 D.00 o.oo 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O.OD 0.00 0.00 o.oo O.OD 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O.DO 0.00 Chthg¥lei Hdocauslhknorid Day Fa￿ty Supptsrt The KEYS Proie¢l 08mg Ver& Lynn Chi￿ren$Ch￿lfy MtsViCtoriaA Holmè Ifundra161n9forchiid￿n in NBpall Hom9$tart ch￿@star& Disb EIiz5beth Finn TN$i Chltho5*1 FFsllval ol Music & Dancè Th8 Not F(ryott£nAssoclat￿n SIM*ty Magdfilene Church 1mad8tr￿r&] P¢C'. MS$5 Eve Bla(*man 8wnor Régis Baplist Churth {ShoreCommunltyChuTchl Macular So¢￿i¥ ChKhester Tuppenny Bam E￿￿&￿an Ydd811 Chtbstian Centres Peter Belley SIWThfr¢ds ¢hvrcb Icontsknution t(thard& woker) Tearfund Caiers Supwrtwésl Susswx Trans Vvortd RadK Feb8 Rad Coa&talW8sI Suss8¥ Mind Règi$ SehoDI of Mus crtmlnon UK Thg Fisheiman's Mi55io Swrey Diuo & Alcthol Cwe Rainb0wTru$lCtri￿[en'￿ Charity HourgLg55 IS&rerAge1￿l ¢id Guvjing L8#er Internathjnal Mbrfhingl Guld c*￿ Gen¢ral NJC Gyninf* Part￿er￿f0rl￿d￿p￿dÉrte¢ Gtsèt Oimond siieel Wnston6 W$h QobhamArea Fotsdbank 49ohtVlslon Sup Chi¢h8sl8rDistsicl Follthank LiN￿hamp￿A Dtstrici Fotslbank BognorRegls Foodbank 0.00 0.00 o.oo 0.00 0.00 0.00 0.00 o.oo 0.00 o.oo 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O.OD 0.00 0.00 O.OD 0.00 0.00 0.00 0.00 0.00 0.00 D.00 0.00 0.00 0.00 o.oo 0.00 0.00 0.00 o.oo 0.00 28.11.23 29 11.23 08.12.23 08 12.23 22.12.23 0.00 0.00 0.00 0.00 o.oo 141?2J 02.01.24 0201 24 0201.24 02.01 24 0201 24 03.01.24 0501 24 22.01.24 05.02 24 23.02 24 27.U2.24 27.02.24 27.02.24 13.05.24 13.03.24 13.03.24 15.03.24 15.03.24 StGeoffjes PCC Donningion Livfjipool Schod y10p￿ ￿ed￿1Th8 HF Tiust Ltd Coniact 88 Bishop Luffa st1￿ Chl¢h¢$i¢r Fesiw41 Thgatrè Dslaad PG¢ ESTEEM Hampshlre lOWAlrAmlxla￿9 l$hrna81 Crohny &c￿li￿ UKHaryesl Youn9 Careis Fa￿M￿supp Crohns 8 Coli115 UK ID9 ￿AuSeu[￿ of Arf$ & Craft Sl Barn8bas Hospl¢os(Sus89x) Ltd 24-7 Prayéi BaknGÈG%rried forward 0.00 0.00 o.oo 0.00 37.700.00 51.1(N).00 Page 13 SSIL SHIPPAM ANOALSFORD TRUST REGISTERED ITY NUMBER 266996 NDt• rthe aroTrdgd tslh A 112Q21 10. CHAAIYA8LE tsRANTS PAYABLE B&l&nco brouthtlatwaid 12 37.700.00 138.272.00 122,872.00 51,1fy).00 270324 28.03.24 2e.03.24 02.04.24 MrsA Ed&U￿ Sg f 8 00 ¥5B& iy #* 4 C4 8885$ 8888 88 8f 888 { S 188 (oooo 888 S S 888 8 88 11 cc 88-8 888 I I I ort oai 02 08 &- r4