REGISTERED CHARITY NUMBER: 282159
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE SUSSEX HISTORIC CHURCHES TRUST
Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ
THE SUSSEX HISTORIC CHURCHES TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
----- Start of picture text -----
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12
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THE SUSSEX HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2024.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandard applicable
in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Theobjectofthecharityisthepreservation,repair,maintenance,improvement,upkeep,beautification and
reconstructionofchurches(includingacathedral,abbey,ministerorpriorychurch),chapelsorotherbuildings used
for public worship in Sussex whether belonging to or used by the Church of England or any other religious body.
Public benefit
Thetrusteeshavecompliedwiththeirdutytohavedueregardtotheguidanceonpublicbenefitpublishedby the
Charity Commission in exercising their powers or duties.
Grantmaking
Thecharitymeetsitsobjectivesentirelythroughgivinggrantstoindividualchurches.Applicationsforgrants are
consideredatthemeetingsoftheTrustees.Grantsarecurrentlyconfinedtoworksofessentialrepairstothefabric of
placesofworship,theemphasisbeingonmaintainingthestructure,windandweatherproof.Priorityisgiven to
buildings over 100 years old and of particular historical or architectural interest.
ACHIEVEMENT AND PERFORMANCE
Incomein2024wassignificantlyhigherthanthebudget,despiteacontinuinglowlevelofgeneraldonationsto the
Trust'swork.TheTrustreceivedgrantsfromtwootherorganisationstowardsitswork,amountingto£15,650 overall.
A small legacy of £1,000 was gratefully received.
Investmentdividendsshowedasmallincreaseover2023tojustabove£75,000,thelargestcontributorto our
income.ThecapitalvaluesoftheTrust'sinvestmentsalsoincreasedfollowingimprovedmarketconditions, the
portfolio showing growth of 2.3%.
Ride&Strideresultsforthe2024eventshowedasignificantimprovementwithgrossreceiptsofaround £48,000
includinggiftaid,andanetresultofalmost£28,000.Thisisveryencouraging,indicatingtherecentchanges in
operation of the event are bearing fruit.
The Trust made fourteen grants to churches, totalling £103,000.
Thepaymentofgrantsonacceptanceofoffers(ratherthanoncompletionofworks)resultedintherebeing no
liabilities for grants at year-end, and a consequent substantial reduction in cash balances.
FINANCIAL REVIEW
Principal funding sources
TheTrust'sprimaryfundingsourcesareRide&Stride,investmentdividends,donations,grantsfromotherTrusts and
legacies.
Investment policy and objectives
Therearenorestrictionstothecharity'spowertoinvest.TheTrusteesmanagetheinvestmentportfoliowitha policy
ofmaintainingincomewhilepreservingtherealvalueofinvestments.Amediumtolowriskpolicyisadopted with
investmentssplitbetweenfixedinterest(property)andequitieswithnomorethanabout20%ofthefund being
invested through any one manager. All the managers used have formally adopted an acceptable ethical standard.
Reserves policy
Itisthepolicyofthecharitytomaintainsufficientcashfundstomeetitsanticipatedexpenditureonmanagement and
administration expenses and charitable grants.
Page 1
THE SUSSEX HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
FUTURE PLANS
ItishopedthattheTrustwillbeabletoincreaseagainthefundsofferedingrantsduring2025,andpossiblyinvest a
further tranche of cash.
TheTrusteescanforeseeever-increasingdemandsonparishincome,andthiscombinedwiththe ever-increasing
costsofmaintainingandrepairingvaluablehistoricbuildingsislikelytoleadtoconstantlylargerapplications for
financial support. The Trust's principal objective is to be able to meet these demands as far as it is able.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TrustDeeddated11August1956asamendedbytheMemorandumofAmendmentdated6June2005and the
Memorandum of Amendment dated 24 March 2022.
Recruitment and appointment of new trustees
A policy has been adopted for the recruitment and appointment of new Trustees and for their induction and training.
Decision making
TrusteesapprovetheReportandAccounts,theinvestmentpolicyandstrategyandmakealldecisionsrelatingto the
Trust.
Risk management
Areviewhastakenplaceofthemajorriskstowhichthecharityisexposedandapolicyputinplacetominimise those
risks.
Page 2
THE SUSSEX HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
282159
Principal address
Rotten Row House
Rotten Row
Lewes
BN7 1TN
Co-Presidents
The Bishop of Chichester
The Bishop of Arundel and Brighton
The Lord Lieutenant of West Sussex
The Lord Lieutenant of East Sussex
Trustees
Mr Christopher Whittick DL (Chairman)
Mr Jonathan Prichard
Mrs Sara Stonor DL (Vice Chairman)
Mr John Booth DL
Mr Michael Foster DL
Mr Philip Bowden
Mrs Diana Hansen (appointed 27/09/2024)
Mr Anthony Dunnett (appointed 27/09/2024)
Mr Raymond Cocks (appointed 27/09/2024)
Secretary
Mrs Sara Stonor
Treasurer
Mr Philip Bowden
Independent examiner
Sarah Alexander FCA FCCA
Lewis Brownlee (Chichester) Limited
Appledram Barns
Birdham Road
Chichester PO20 7EQ
Bankers
National Westminster Bank Plc
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
..............................................................
Mr Christopher Whittick - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE SUSSEX HISTORIC CHURCHES TRUST
Independent examiner's report to the trustees of The Sussex Historic Churches Trust
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheSussexHistoricChurchesTrust(the Trust)
for the year ended 31 December 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandin carrying
outmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionunderSection 145(5)(b)
of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnection with
the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Alexander FCA FCCA
Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ
Date: .............................................
Page 4
THE SUSSEX HISTORIC CHURCHES TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
|
|
2024 |
2023 |
|
|
Unrestricted |
|
|
|
fund |
Total funds |
|
Notes |
£ |
£ |
INCOME AND ENDOWMENTS FROM |
|
|
|
Donations and legacies |
2 |
2,902 |
3,009 |
Other trading activities |
3 |
48,395 |
40,979 |
Investment income |
4 |
75,178 |
73,899 |
Other income |
5 |
15,650 |
13,150 |
Total |
|
142,125 |
131,037 |
EXPENDITURE ON |
|
|
|
Raising funds |
|
18,978 |
18,133 |
Charitable activities |
6 |
|
|
Charitable Activities (Grants) |
|
104,337 |
86,142 |
Total |
|
123,315 |
104,275 |
Net gains on investments |
|
84,861 |
84,069 |
NET INCOME |
|
103,671 |
110,831 |
RECONCILIATION OF FUNDS |
|
|
|
Total funds brought forward |
|
2,060,776 |
1,949,945 |
TOTAL FUNDS CARRIED FORWARD |
|
2,164,447 |
2,060,776 |
The notes form part of these financial statements
Page 5
THE SUSSEX HISTORIC CHURCHES TRUST
BALANCE SHEET 31 DECEMBER 2024
|
|
2024 |
2023 |
|
|
Unrestricted |
|
|
|
fund |
Total funds |
|
Notes |
£ |
£ |
FIXED ASSETS |
|
|
|
Investments |
10 |
2,057,275 |
1,972,415 |
CURRENT ASSETS |
|
|
|
Cash at bank |
|
108,132 |
166,821 |
CREDITORS |
|
|
|
Amounts falling due within one year |
11 |
(960) |
(78,460) |
NET CURRENT ASSETS |
|
107,172 |
88,361 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
2,164,447 |
2,060,776 |
NET ASSETS |
|
2,164,447 |
2,060,776 |
FUNDS |
12 |
|
|
Unrestricted funds |
|
2,164,447 |
2,060,776 |
TOTAL FUNDS |
|
2,164,447 |
2,060,776 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:
.............................................
Mr Christopher Whittick - Trustee
The notes form part of these financial statements
Page 6
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January 2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistorical cost
convention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedby the
revaluation of certain assets.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptioninpreparingthesefinancial statements,
as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothe funds,
it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.
Fixed asset investments
Investmentsareincludedatclosingmid-marketvalueatthebalancesheetdate.Anygainorloss on
revaluation is taken to the Statement of Financial Activities.
2. DONATIONS AND LEGACIES
Donations
Legacies
OTHER TRADING ACTIVITIES |
|
2024
£
1,900
1,002
2,902 |
|
2023
£
3,009
-
3,009 |
|
|
2024 |
|
2023 |
|
|
£ |
|
£ |
Gross receipts |
44,016 |
|
35,757 |
|
Add tax reclaim |
4,379 |
|
5,222 |
|
|
|
|
|
|
|
48,395 |
|
40,979 |
|
Returned to Parishes |
(18,287)
(17,131) |
|
|
|
Expenses |
(633)
(1,002) |
|
|
|
|
|
|
|
|
|
29,475 |
|
22,846 |
|
|
|
|
|
|
3. OTHER TRADING ACTIVITIES
continued...
Page 7
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
4. INVESTMENT INCOME
4.
INVESTMENT INCOME |
|
|
|
|
|
|
Dividends
5.
OTHER INCOME
Spiller Trust
Ashburnham Thanksgiving Trust
6.
CHARITABLE ACTIVITIES COSTS
Charitable Activities (Grants)
7.
GRANTS PAYABLE
Commitments at 1 January 2024
Commitments made in the year
Grants withdrawn
Grants payable for the year
Grants paid during the year
Commitments at 31 December 2024
8.
SUPPORT COSTS
Staff costs (fee)
Independent examiner's fee |
Grant
funding of
activities
Direct
(see note
Costs
7)
£
£
377
103,000 |
|
2024
£
75,178
2024
£
15,000
650
15,650
Support
costs (see
note 8)
£
960 |
|
|
2023
£
73,899
2023
£
12,500
650
13,150
Totals
£
104,337 |
|
|
|
|
2024 |
|
2023 |
|
|
|
|
£ |
|
£ |
|
|
|
|
77,500 |
|
67,000 |
|
|
|
|
103,000 |
|
87,500 |
|
|
|
|
- |
|
(3,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
180,500 |
|
151,500 |
|
|
|
|
(180,500) |
|
(74,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
77,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
|
|
|
|
£ |
|
£ |
|
|
|
|
- |
|
- |
|
|
|
|
960 |
|
960 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
960 |
|
960 |
|
|
|
|
|
|
|
continued...
Page 8
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norforthe year
ended 31 December 2023.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2024norfortheyear ended
31 December 2023.
10. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Listed |
|
investments |
|
£ |
MARKET VALUE |
|
At 1 January 2024 |
1,972,415 |
Revaluations |
84,860 |
At 31 December 2024 |
2,057,275 |
NET BOOK VALUE |
|
At 31 December 2024 |
2,057,275 |
At 31 December 2023 |
1,972,415 |
There were no investment assets outside the UK. |
|
Cost or valuation at 31 December 2024 is represented by: |
|
|
Listed |
|
investments |
|
£ |
Valuation in 2024 |
2,057,275 |
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Grants payable
Accruals and deferred income |
2024
£
-
960
960 |
2023
£
77,500
960 |
|
|
78,460 |
12. MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS |
At 1/1/24
£
2,060,776
2,060,776 |
Net
movement
in funds
£
103,671
103,671 |
At
31/12/24
£
2,164,447 |
|
|
|
2,164,447 |
continued...
Page 9
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
142,125 |
(123,315) |
84,861 |
103,671 |
TOTAL FUNDS |
142,125 |
(123,315) |
84,861 |
103,671 |
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1/1/23
in funds
£
£
1,949,945
110,831
1,949,945
110,831 |
At
31/12/23
£
2,060,776 |
|
|
2,060,776 |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
131,037 |
(104,275 ) |
84,069 |
110,831 |
TOTAL FUNDS |
131,037 |
(104,275 ) |
84,069 |
110,831 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Net
movement
At 1/1/23
in funds
£
£
1,949,945
214,502
1,949,945
214,502 |
At
31/12/24
£
2,164,447 |
|
|
2,164,447 |
continued...
Page 10
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
12. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
273,162 |
(227,590 ) |
168,930 |
214,502 |
TOTAL FUNDS |
273,162 |
(227,590 ) |
168,930 |
214,502 |
TheUnrestrictedFundsofthecharitymaybeappliedforanycharitablepurposeatthediscretionof the
trustees.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
14. THE SPILLER TRUST
UnderthetermsofthewilloflateBrigadierJohnSpillertheTrustwasleftasumof£500,000which was
placedinanindependentTrust(theSpillerTrust).ThisTrustisadministeredbypartnersofIrwinMitchell and
theresultinginvestmentportfoliomanagedbyThesisAssetManagement.Theannualincomeisavailable for
distributionbySHCToranyotherlikecharityonapplicationtotheSpillerTrust.Itwillbeusedfora few
substantialgrantswhenrequested.Anyincomenotusedwouldbecarriedforwardforuseinfutureyears and
under particularly worthy circumstances application could be made for a grant out of capital.
Page 11
THE SUSSEX HISTORIC CHURCHES TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
2024
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
1,900
Legacies
1,002
2,902
Other trading activities
Fundraising events
44,016
Tax reclaim
4,379
48,395
Investment income
Dividends
75,178
Other income
Spiller Trust
15,000
Ashburnham Thanksgiving Trust
650
15,650
Total incoming resources
142,125
EXPENDITURE
Other trading activities
Fundraising costs
18,978
Charitable activities
Sundries
67
Bankline charges
310
Charitable activities (grants)
103,000
103,377
Support costs
Governance costs
Independent Examiner's fees
960
Total resources expended
123,315
Net income
18,810 |
2023
£
3,009
- |
|
3,009
35,757
5,222 |
|
40,979
73,899
12,500
650 |
|
13,150 |
|
131,037
18,133
396
286
84,500 |
|
85,182
960 |
|
104,275 |
|
26,762 |
This page does not form part of the statutory financial statements
Page 12