IM irwinmitchell ASSIL SHIPPAM EGISTERED C D ALSFORD TIqUST ITY NUMBER 256 NCIAL STATEMENT earended Sth 25 IRef.. TST1100Q00181
BASSIL S ND ALSFORD IJST RE ERED CHARITY NUMSER 2569 h8 Flnanclal Staigmvllts ear ended 5lh A rll 20 Annual report Indopendenl Examinerfs Reporf Bal)nceSheel Skletntrnl of Finan¢lalAcliviiles 7-14 Notss to Ihe Fancial Siatemenls 15-19 Schedule of In¥estmen15
ANNUAL REPORT For the year ended 5th Aprll 2025 Full name of Charity . The Bassil Shippam and Alsford Trust Nature of governing document . Charitable Trust deed dated 23rd January 1967 Registration Number . 256996 Trustees: John Hugh Shipslone Shippam Christopher William Doman Stanley William Young Molly Hanwell Richard Tayler Susan Trayler Simon Alislair Erskine MacFarlane Janel Bailey Alison Swan lain Hugh MacLeod Reglstered Address Thomas Eggar House, Friary Lane, Chichester, West Sussex. P019 1UF Prlnclpal Banker: Barclays Bank Plc, 74115 East Street, Chichester. Wesl Sussex, P019 1HR Solicitors.. Irwirb Mitchell. Thomas Eggar House. Friary Lane. Chichester. Wesl Sussex, P019 1UF Independent Examinars . Carpenlei Box, Piper House. 4 Dukes Court, Bognor Road. Chichester. Wesl Sussex, P019 8FX Investment Managers . Close Brothers Asset Management Limited. 10 Crown Place, London. EC2A 4FT and TrinilyBridge, Wigmofe Yard, 42 Wigmore Slfeel. London. W1U 2RY Oporatlng Restrictions: Chaiilable objects according to the Law of England Specific investment powars: Wide unreslricled powers given lo the Trustees in the Chaiilable Trust Deed dated 23rd January 1967 Objects of the charity: The Selllemenl Deed authorises the Iruslees lo apply the capital and income of the Trust Fund lo such charities or for such charitable purposes and in such proportions as the trustees may al their uncontrolled discretion determine. The trustees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objedives and in deciding what activities the Trust should undertake. GA- 5180151 1
Organlsatlon.. The Trustees who setved during the year and since the year end are sel out on pago 1. The Trustees mel three limes during the year lo determine who they would support and lo consider the fulure of the Trust. The slalulory power of appoinlmenl applies in connection with the appointment of Tiuslees and is exercisable by the continuing and retiring Trustees. Grant making pollcy: The charity invites applications forfunding to 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 ft)recasts. Applications are roviewed by a panel of Trustees. Financlal revlew and investment policy: There are no reslr¢¢lions on the charity's power lo invest. The investment strategy is sel by the Iruslees for a period of five years and lakes account of demand for funds. The trustees consider the income requirements, the risk profile and the investment manager's view of the market prospects in the medium term. This slralegy is sel within an overall policy which slates that the funds may be invested in accordance with the Trustees, agreed investment policy. Oui strategy is reviewed with our investment managers annually. During the year incoming resources lolalled £163,97212024.. £161,400) resources expended lolalled £207,488.62 12024.'£218.0501 and other recognised losses tolalled £93.816. As a result the fund balance carriod forward al 5th April 2025 was £4,136,27412024.' £4,273.60SI. The majority of incoming resouices consist of dividends and interest from a portfolio managed by the Iruslees, independent investment advisers, Close Brothers Asset Management Limited and then TrinilyBridge. Revlew of activities and future developments: The Trustees have continued their policy of mainly supporting charities active in the fields of care for young and older people, health, education and feligion. Many of the organisalions supported are in Wesl Sussex Reserves policy: 11 is the policy of the charity lo mainlain unrestricted funds, which are the free resetves of the charity. al a level which equates to approximately six months expenditure. This provides suffi¢ienl funds lo cover management and administration and support costs and to respond lo emergency applications foi grants which may arise. Unieslricted funds were maintained al this level throughout the year. Rlsk management: The Iruslees have examined the major strategic, business and operational risks which the charily faces and ¢onfirm that systems have been established lo enable regular reports lo be produced so that Ihe necessary steps can be taken lo lessen these risks. Trustees. responsibilities.. The Iruslees are responsible for preparing the financial slalemenls in accordance with applicable law and United Kingdom Generally Accepted Accounting Pracli¢e. Law applicable to charities in England and Wales requiies the liuslees to prepare financial statements for each linancial year which give a true and fair view of the charity's financial aclivilies 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 trustees should follow bosl practi and.. select 8uilable accounting policies and then apply them consislenlly.. 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 subjecl lo any departures disclosed and explained in the financial slalements., and prepare the financial slalemenls on the going ¢on¢ern basis unless it is inappropriate lo presumè Ihal the charity will continue in operation. GA.. 5180151 1
The Iruslees are responsible for keeping accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and enable them to 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 also responsible for safeguardin9 the assets of the charity and hence foi taking reasonable steps for the prevention and detection of flaud and other irfegularilies. Approved by the Trustees and signed on their behalf.. .LJLye4X J H S Shippam 14.01.2025 GA.. 51B0151 1
Pag8 4 BASSIL SHIPPAM AND ALSFORD TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BASSIL SHIPPAM AND ALSFORD TRUST I r8POrt to the truslees on my examination ol thè financial stalernents of B85siI Shippam and Alslord Trust Ilhe charity) for the y8ai @nded 5 April 2025. Responslbllltlès and bas18 of report As the trustees of th8 chaiily you are responsible for th8 preparation ol ihe financial statemtsnis in accordan with Ihe requ1mentS ol the Charities Acl 2011 (the 2011 Act). I report in respect of my exsmination ol the charity's financial stalemenls carried out under seelion 145 of the 2011 Act. In carrying out rny examination I have loll¢)w8d all the applicable Directions giv8n by the Charity Commisslon under section 14515llbl of th8 2011 Act. Indapendent examlnerf$ stat8rnent I hav8 completed my examination. I confimi that no matters have (x)me to my attention in connection with the èX8mination giving me caus8 to beliève that in any material respect.. accounting records were not kept in respect ol the charity as required by section 130 01 the 2011 Act." or the financial statements do not accord with th056 records,. or the finan¢i81 sl8letnents do not compSy with th8 applicable requ1mentS Conrning the form and content of account5 set out In the Charities IAocount5 and Reportsl Regulations 2008 other than any requirement that the accounts give a true and fair v*w which is not a matt8r considered as part ol an ind8pendent 8xamination. I have no nrn$ and have come acfOSS no other matters in conne¢lion with the examination to which attention should be drawn in this report in order to enable a propgr und8rst8nding of the financial $t8loments to be reached. Claire Norwoocs Bsc FCAATII Carpenter Box Piper House 4 Dukes Court Bognoi Road Chichester Wesl Sussex P019 8FX 1510112026 Dated.. 86801e2.1
klB Bilan¢4S AÈ at5th w4sui1enlsal¥P D8{ 1.$97.0& 50.51D 12 S2.1 154.47 79287.13 79.421eO •tGulff*rttAss•ti TolWlAs5pl5k55CIatrl1bO5 4,2.6ffjOB lelA¥¥el 4.13¢,2F4.J2 FunrfbalirK•4••t&42S 4.136.2f4.$2 4.273.6W.O& byth•lw0fTWIt•I% 14.01.2025 JHSShwpH
Pag• 6 BASSIL SHIPPAM AND ALSFO REGISTEREO CHARITY NUMBER 256996 tement of IlTranci eaTended endilu Income and Ex Genoral Unrt$trl¢ Yearended Yearended 5.4.24 Note EXPENDITURE Ineomlng Resources Investments Total In¢omlng Resources 163.972.70 163.972 70 161.400.40 161.40D.40 Ro80ur¢e8 oxponded R¥i$ing Furtd$ 12s.g58.621 125,178.291 ¢haritAb activilk?s (181.530.001 (192.872.001 Total Resour Expfynd¢d 1207.488.621 P18.050.291 Not Ioutgolngl Resources for Ihe Yèar 143.515.921 156.649.891 Net GalnsllLosse61 on Invo$lmonls Realised ILossesllGain5 on diswsal Dlfixed ¥$sel Inveslrnents ILos$e$yGainson revolualion olfixd asset InSIMnIS 60.089.38 IIS3.905.221 117,914.051 115.616.71 Not lexpendlturelllncomo (137.331.761 41.05277 Fund balan¢e broughl forward 5.4.24 Fund balance carrted forward 5.4.25 4.273.606.08 4.136.274.32 4.232.553.31 4.273.606 08 The atx>v8 resulis deriv8 from C1ng ac11vil. The Chaiity h8$ no f8cog•i8¢d gain5 or k>55es othBrihan Iho$e deal1w in the Slsletntlli ol F5n*ralA¢l1Iies The noleson pages 7 to 14 f¢m p8rtoflhese accounls.
BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to the Accounts for the earended 5th A ril 2025 1 ACCOUNTING POLICIES The Bassil Shippam and Alsford Trust Is 8n unincorporated charily. registered wilh the Charity Commission numbèr 256996. The registered address is Thomas Eggar House. Friary Lane. Chichester. West Sussex, PO19 1 UF 1.1 ACCOUNTING CONVENTION The financial slalemenls have been prepared in accordance with Charities Act 2011 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing from 1 January 2019). The charily is a Public Benefit Enlily as defined by FRS 102. The accounts are prepared in sterling. which is the functional currency of the charity. The accounts have been prepared on Ihe historical cost convention modified for the revaluation of inveslmenls. The principal accounting policies adopted are set out below. 1.2 GOING CONCERN Al the lime of approving the accounts, the Iruslees have reasonable expectation that the charity has adequate iesources lo continue in operational exislen¢e for the foreseeable fuluie. Thus the Iruslees, continuo to adopt the going concern basis of accounting in pieparation of the accounts. 1.3 CHARITABLE FUNDS & FUND ACCOUNTING Unreslricled funds are available for use al the discretion of the trustees In furtherance of their charitable objectives unless the funds have been designated for olhor purposes. Incomlng Resource5 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 disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in nel incomel{expendilure) for the year. 1.4 GRANTS PAYABLE Grants payable are debited to expenditure within the Statement of Financial Activities in the period to which they relate. Where a grant commitment is payable over a period of more than one year, a liabilily is recognised for the full amount of the ¢onslru¢live obligation unless conditions are attached lo future payments such thal the Iruslees effectively relain the discretion lo avoid making such payments. 1.5 INVESTMENTS AND INVESTMENT INCOME All inveslmenls are slated al fair value and the movement shown comprises both realised and unrealised gains and losses.
BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to tho Accounts for the oar ended 5th A rll 2025 Realised gains or losses arising on the disposal of investments {logelher with provisions for diminution in value). are credited or debited to the Slalemenl of Financial A¢livilies, and subseqL¢enlly transferred to Unreslricled 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 costs Comprise all costs involving the public accounlabilily of the charity and ¢S compliance with regulation and good practice. These costs include cosls related to slatulory independent examination and legal fees logelher with other overhead and support costs. 1.9 CASH AND CASH EQUIVALENTS Cash and cash equivalents include deposits hel(J at call wilh banks. 1.10 FINANCIAL INSTRUMENTS The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and section 12"Olher Financial Instruments Issues" of FRS 102 to all of ils financial inslfumenls. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls. when there is a legally enforceable right to set off the recognised amounts and there 1$ an intention to sellle on a nel basis or lo realise the asset and sellle the liability simullaneoijsly. Basic financlal assets Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one yeai are not amortised. Impairment of financlal assets Financial assets. other than those held at fair value through income and expendiluie, are assessed for indicators of impairment al each reporting dale. Financial assets are impaired where there is objective evidence that, as a result one or moro events that oc¢urred after the initial iecognilion of the financial asset, the eslimaled fulure cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the eslimaled cash flows discounted al the asset's original effective interest rate. The impairment loss is recognised in nel incomellexpendilure} for the year. If there is 8 decrease in the impairment loss arising from an evenl occurring after the impairment was recogniseLf, the impairment Is reversed. The reversal is such that the current carrying amount does not ex¢eed what the carrying amount would have been, had the impairment previously been recognised. Tho impairment reversal is recognised in nel incomellexpendilurel for the year.
BASSIL SHIPPAM AND ALSFORD TRUST REGISTERED CHARITY NUMBER 256996 Notes to the Accounts for the earended 5th A ril 2025 Basic financlal liabilitie5 Basi¢ financial liabilities, including trade and other payables, are initially recognised al Iransaclion 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 rale of interest. Debt insliumenls are subsequently carried al amortiserl cost, using the effective inleresl rale method. Trade payables are obligations lo pay for goods or services that have been acquired in tho ordinary course of opeTalions from suppliers. A¢nIS payable are classed as current liabilities il payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade payables are recognised initially al transaction price and subsequently measured al amortised cost using the effective interest method. Der&cognition of flnancial liabilitles Financial liabilities are delecognised when the charity's contractual obligations expire or are discharged or canlled. 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charity's ac¢ounling policies, the trustees are required lo make judgemenls, eslimales and assumptions about the carrying amount of assets and liabililies that are not readily apparent from other sources, The eslimales and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ fiom these eslimales. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the eslimate is revised where the revision affects only that pèriod, or in the period ol the revision affecls only that period, or in the period of the revision and future periods where the revision affects both currenl and future periods.
Pago 10 BASSIL SHIPPAM ANO ALSFORD T us REGISTERED CHARITY MBER 256996 ear ended 5lh A 1120 Yearendod 5.4.25 Yeai onded 5.4.24 S. FIXEO ASSET INVESTMENTS Isutnmary of pages 1S 10 191 Quot inv8simenl$ and portloliocash Market Value 6th April 2024 Portlolro c8sh 6th April 2024 AddilK)ns IncreasellDecreasel h ¢8sh held on portrolio Disposals Nel ullrtr¥li¥td Ilos$ygain 4,197,542.OD 80,175.9 1,3ZI.224.42 26.509.39 11,3D7,689.201 1S3 905.22 4,163,857.37 4.161.723.00 95.038.25 978.525 82 114,862.271 11.058,323.531 4.277,717.96 Hlslorfcal ¢osl of lisled investmenls 4 131 760.00 4.094.881.00 Lisied invesimenis CB5h held in porif01 forlnve$im8nl 4.057,172.00 106.665.37 4.163,857.37 4,197,542.00 80 175.98 4 277 717.9 There are rn in¥t$lm8nl$whkh represen15 gieaier thall 5% of Ihe porwollo by markelVue DEBTORS". A10ffl05 ifileresidue HM Revenue & Customs 0.00 1,597.88 1,597.88 o.sts 153.94 154.47 5. CASH.. B8nk8ccounls Inleresl bearing dep1 ac¢ouni 50,51D.12 79.267.13
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Page 14 BASSIL SHIPPAM ANO AL RD TRUST REGISTERED ¢M Y NUMBER 256996 Plotes AÈcounl$ for the ear en Yeargndwd 4.25 Year ended 11. GOVER14AblCE COSTS IINCL VAn Lega18nd PiolesyionAI chArge& Iwin MilchBII LLP Infomialion Comtnis$i¢ner Independent Examiners fets - C$rpenl¢r8ox (32,400.001 140.001 130,960.001 140.001 1.440.00 33.880.00 1,200.00 32,200.00 12. EMPLOYEES There were noemOye0&lJUrin¥ th8 year12024'.nill 13. TRANSACTIONS V4llTH TRUSTEES Therewere no yaymeni¥ io liusle¢$ ¢urin9 Ihg period forremuner8lion or fOrrnburSeM8ThI of expense 14. TR4NSACTIONS VlllTH RELATED PARTIES John Hu9h Shipslone Shippam. a Iw$lee, is also e ITuslee of Tht Nowell centre A5soci81ion ¥nd DnIng10n House Care Home Lld. During the year iheie were grants made lo The Newell CenlfeA55QKlalion of £5.600 lo Donninglon House Core Hotne Ltd of£41.300
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