REGISTERED CHARITY NUMBER: 282159
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
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 2025
| 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 12 |
| Detailed Statement of Financial Activities | 13 |
THE SUSSEX HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the charity is the preservation, repair, maintenance, improvement, upkeep, beautification and reconstruction of churches (including a cathedral, abbey, minister or priory church), chapels or other buildings used for public worship in Sussex whether belonging to or used by the Church of England or any other religious body.
Public benefit
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
Grantmaking
The charity meets its objectives entirely through giving grants to individual churches. Applications for grants are considered at the meetings of the Trustees. Grants are currently confined to works of essential repairs to the fabric of places of worship, the emphasis being on maintaining the structure wind and weather proof. Priority is given to buildings over 100 years old and of particular historical or architectural interest.
ACHIEVEMENTS AND PERFORMANCE
Income in 2025 was in line with the budget. The Trust received grants from two other organisations towards its work, amounting to £1,650 overall. A legacy of £4,000 was gratefully received.
Investment dividends showed continuing growth to almost £78,000, the largest contributor to our income. The capital values of the Trust's investments increased significantly following positive market conditions, adding around £260,000 to the portfolio value. Of this, £210,000 was growth in the portfolio and there was a further cash investment of £50,000.
Ride & Stride results for the 2025 event showed a small decrease to around £25,000 including gift aid.
The Trust made eighteen grants to churches, totalling £100,000.
The Trust's website had become outdated over time, so during the year an opportunity was taken to replace it. This resulted in one-off expenditure of around £5,700, approved in advance by the Trustee Board. The intention is to keep the website updated which will incur some costs.
FINANCIAL REVIEW
Principal funding sources
The Trust's primary funding sources are Ride & Stride, investment dividends, donations, grants from other Trusts and legacies.
Investment policy and objectives
There are no restrictions to the charity's power to invest. The Trustees manage the investment portfolio with a policy of maintaining income while preserving the real value of investments. A medium to low risk policy is adopted with investments split between fixed interest (property) and equities with no more than about 20% of the fund being invested through any one manager. All the managers used have formally adopted an acceptable ethical standard.
Reserves policy
It is the policy of the charity to maintain sufficient cash funds to meet its anticipated expenditure on management and administration expenses and charitable grants.
FUTURE PLANS
It is the Trust's desire to increase the funds available for grants over time, and invest further tranches of cash as circumstances allow.
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THE SUSSEX HISTORIC CHURCHES TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Trust Deed dated 11 August 1956 as amended by the Memorandum of Amendment dated 6 June 2005 and 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
Trustees approve the Report and Accounts, the investment policy and strategy and make all decisions relating to the Trust.
Risk management
A review has taken place of the major risks to which the charity is exposed and a policy put in place to minimise those risks.
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 Mr Anthony Dunnett Mr Raymond Cocks
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
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THE SUSSEX NisfoRIC CHURCHES TRUST REPORT OF THE TrUSTEES FOR ThE YEAR ENDED 31 DECEMBER 2025 L¢JZ Aptrnd byorderofthe bjard oftru*eeson........ ................................... and sgned on ts tehalfty: Mr Christopher Wlittick- 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
I report to the charity trustees on my examination of the accounts of The Sussex Historic Churches Trust (the Trust) for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
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 cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Sarah Alexander FCA FCCA
Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ
14 April 2026 Date: .............................................
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THE SUSSEX HISTORIC CHURCHES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 4,945 | 2,902 |
| Other trading activities | 3 | 38,329 | 48,395 |
| Investment income | 4 | 77,915 | 75,178 |
| Other income | 5 | 1,650 | 15,650 |
| Total | 122,839 | 142,125 | |
| EXPENDITURE ON | |||
| Raising funds | 3 | 13,078 | 18,978 |
| Charitable activities | 6 | ||
| Charitable Activities (Grants) | 108,033 | 104,337 | |
| Total | 121,111 | 123,315 | |
| Net gains on investments | 210,649 | 84,861 | |
| NET INCOME | 212,377 | 103,671 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 2,164,447 | 2,060,776 | |
| TOTAL FUNDS CARRIED FORWARD | 2,376,824 | 2,164,447 |
The notes form part of these financial statements
Page 5
THE SUSSEX HIsfoRIC CHURCJIES Trusr BALANCE SHE 31 DECEMBER 2025 2025 2024 nd Total funds Invethents io 1317,924 2,057,275 CURRENT ASSErs Cash at bank $9,920 108,l32 CREDrroRS AnKJunts falling thje %Mthin one year li (1,020) (960) NEf CURRENT ASSErs TOTAL ASSEfs LESS CURRENT LIABILrnES 1376,814 2,164,H7 NAsSE 376 824 FUNDS UnreStrte fiJnd5 12 376 824 TOTAL FUNDS The finar1 statanents We approved by the Board of Truth and auth0rfS for issue on . and VIe sgn&l on its behalf by: Mr Christ)phw WhittKk. Truee The ncte5 wt ofthe5e finartrdl statements
THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
Financial reporting standard 102 - reduced disclosure exemptions
The charity has taken advantage of the following disclosure exemption in preparing these financial 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
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Where income has related expenditure (as with fundraising or contract income), the income and related expenditure are reported gross in the Statement of Financial Activities.
Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors.
For legacies, entitlement is taken on a case-by-case basis as the earlier of the date on which: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. The aim and purpose of each designated fund is set out in the notes to the financial statements.
continued...
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THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds are funds of the charity restricted for specific services or for educational and research projects being undertaken by the charity. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each material designated and restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price, except for the shares in the trading subsidiary which are carried at cost. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The charity does not acquire put options, derivatives or other complex financial instruments.
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.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The Charity has no advanced financial instruments.
2. DONATIONS AND LEGACIES
| Donations Legacies |
2025 £ 945 4,000 4,945 |
2024 £ 1,900 1,002 2,902 |
|---|---|---|
3. OTHER TRADING ACTIVITIES
| Gross receipts Add tax reclaim Returned to Parishes Expenses |
2025 2024 £ £ 32,491 44,016 5,838 4,379 38,329 48,395 (12,445) (18,287) (633) (633) 25,251 29,475 |
|---|---|
continued...
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THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
| 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 2025 Commitments made in the year Grants withdrawn Grants payable for the year Grants paid during the year Commitments at 31 December 2025 8. SUPPORT COSTS Independent examiner's fee |
Grant funding of activities Direct (see note Costs 7) £ £ 1,204 100,000 |
2025 £ 77,915 2025 £ 1,000 650 1,650 Support costs (see note 8) £ 6,829 2025 £ - 100,000 - 100,000 (100,000) - 2025 £ 960 960 |
2024 £ 75,178 2024 £ 15,000 650 15,650 Totals £ 108,033 2024 £ 77,500 103,000 - 180,500 (180,500) - 2024 £ 960 960 |
|
|---|---|---|---|---|
continued...
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THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
10. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2025 | 2,057,275 |
| Additions | 50,000 |
| Revaluations | 210,649 |
| At 31 December 2025 | 2,317,924 |
| NET BOOK VALUE | |
| At 31 December 2025 | 2,317,924 |
| At 31 December 2024 | 2,057,275 |
There were no investment assets outside the UK.
Cost or valuation at 31 December 2025 is represented by:
| Valuation in 2025 Cost 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
Listed investments £ 1,142,424 1,175,500 2,317,924 2025 2024 £ £ 1,020 960 |
|---|---|
continued...
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THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 122,839 TOTAL FUNDS 122,839 |
At 1/1/25 £ 2,164,447 2,164,447 Resources expended £ (121,111) (121,111) |
Net movement in funds £ 212,377 212,377 Gains and losses £ 210,649 210,649 |
At 31/12/25 £ 2,376,824 2,376,824 Movement in funds £ 212,377 212,377 |
|---|---|---|---|
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1/1/24 | in funds | 31/12/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,060,776 | 103,671 | 2,164,447 | |
| TOTAL FUNDS | 2,060,776 | 103,671 | 2,164,447 | |
| 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 | 142,125 | (123,315) | 84,861 | 103,671 |
| TOTAL FUNDS | 142,125 | (123,315) | 84,861 | 103,671 |
continued...
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THE SUSSEX HISTORIC CHURCHES TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1/1/24 in funds £ £ 2,060,776 316,048 2,060,776 316,048 |
At 31/12/25 £ 2,376,824 2,376,824 |
|---|---|---|
A current year 12 months and prior year 12 months combined 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 | 264,964 | (244,426) | 295,510 | 316,048 |
| TOTAL FUNDS | 264,964 | (244,426) | 295,510 | 316,048 |
The Unrestricted Funds of the charity may be applied for any charitable purpose at the discretion of the trustees.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
14. THE SPILLER TRUST
Under the terms of the will of late Brigadier John Spiller the Trust was left a sum of £500,000 which was placed in an independent Trust (the Spiller Trust). This Trust is administered by partners of Irwin Mitchell and the resulting investment portfolio managed by Thesis Asset Management. The annual income is available for distribution by SHCT or any other like charity on application to the Spiller Trust. It will be used for a few substantial grants when requested. Any income not used would be carried forward for use in future years and under particularly worthy circumstances application could be made for a grant out of capital.
Page 12
THE SUSSEX HISTORIC CHURCHES TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Legacies Other trading activities Fundraising events Tax reclaim Investment income Dividends Other income Spiller Trust Ashburnham Thanksgiving Trust Total incoming resources EXPENDITURE Other trading activities Fundraising costs Charitable activities Sundries Bankline charges Charitable activities (grants) Support costs Governance costs Independent Examiner's fees Website Total resources expended Net income |
2025 £ 945 4,000 4,945 32,491 5,838 38,329 77,915 1,000 650 1,650 122,839 13,078 919 285 100,000 101,204 1,080 5,749 6,829 121,111 1,728 |
2024 £ 1,900 1,002 2,902 44,016 4,379 48,395 75,178 15,000 650 15,650 142,125 18,978 67 310 103,000 103,377 960 - 960 123,315 18,810 |
|---|---|---|
This page does not form part of the statutory financial statements
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