Earl of Chichester's Charitable Trust Charity registration no. 283236 Trustees' report and unaudited accounts
For the year ended 31 December 2022
Earl of Chichester's Charitable Trust
Legal and administrative information
| Trustees | The Rt Hon The Earl of Chichester |
|---|---|
| The Rt Hon The Countess of Chichester | |
| Lady Eliza Conway | |
| Charity number | 283236 |
| Principal address | Old Library Chambers |
| 21 Chipper Lane | |
| Salisbury | |
| Wiltshire | |
| SP1 1BG | |
| Independent examiner | Simon Ellingham FCA |
| Fawcetts LLP | |
| Chartered Accountants | |
| Windover House | |
| St Ann Street | |
| Salisbury | |
| Wiltshire | |
| SP1 2DR | |
| Accountants | Evelyn Partners LLP |
| Accountants | |
| Old Library Chambers | |
| 21 Chipper Lane | |
| Salisbury | |
| Wiltshire | |
| SP1 1BG | |
| Investment advisors | Evelyn Partners Investment Management LLP |
| 45 Gresham Street | |
| London | |
| EC2V 7BG |
Earl of Chichester's Charitable Trust
Contents
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement offnancial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6 - 10 |
Earl of Chichester's Charitable Trust
Trustees' report for the year ended 31 December 2022
The trustees present their report and accounts for the year ended 31 December 2022.
The accounts comply with the Charities Act 2011 and 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) (e ff ective 1 January 2019).
Structure, governance and management
The charity is an unincorporated trust, constituted under a charitable trust deed dated 20 January 1966 and is a registered charity, number 283236.
The trustees who served during the year were: The Rt Hon The Earl of Chichester The Rt Hon The Countess of Chichester Lady Eliza Conway
New trustees are appointed by the Rt Hon The Earl of Chichester during his lifetime.
The joint trustees are responsible for the day to day administration of the charity.
The trustees have the power to invest monies in stocks, shares, other securities or property whether real or personal in any part of the world.
The trustees have reviewed the risk to the charity's assets and are satis fi ed that su ffi cient controls are in place.
Objectives and activities
The charity's objects are to hold the capital and income on trust and to apply them for purposes which are exclusively charitable.
The policies adopted in furtherance of these objects are to make charitable donations from the income of the trust. Any income not distributed in any one year will be carried forward. There has been no change in these policies during the year.
The trustees will continue to support the work of charities, voluntary organisations and individuals.
The trustees have considered the guidance provided by the Charity Commission with regard to meeting the public bene fi t objective. As donations are made to registered charities, the trustees believe that the Earl of Chichester's Charitable Trust is acting for the public bene fi t.
Achievements and performance
During the year investment income of £30,348 (2021: £29,945), interest of £98 (2021: £nil), donations of £25,000 (2021: £2,190) and gift aid of £6,250 (2021: £nil) was received. Grants of £20,708 (2021: £18,555) were paid out to various charitable institutions in furtherance of the charitable objects of the charity.
Financial review
The trustees pursue a policy of distributing the income by way of donations within the scope of the charity's objects. Any surplus is added to reserves. All funds are unrestricted. The trustees do not delegate the day to day management of the charitable trust.
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Earl of Chichester's Charitable Trust
Trustees' report for the year ended 31 December 2022
Trustees' responsibilities
The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable laws and regulations.
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satis fi ed that they give a true and fair view of the state of a ff airs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which are su ffi cient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventation and detection of fraud and other irregularities.
On behalf of the board of trustees
The Rt Hon The Earl of Chichester
..............................
The Rt Hon The Earl of Chichester
Trustee
Date: 5 May 2023
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Earl of Chichester's Charitable Trust
Independent examiner's report to the Trustees of the Earl of Chichester's Charitable Trust
I report to the trustees on my examination of the accounts of the Earl of Chichester's Charitable Trust for the year ended 31 December 2022 which comprise the statement of fi nancial activities, the balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies.
Respective responsibilities of trustees and examiner and basis of report
As the charity's trustees, 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 charity's accounts carried out under section 145 of the 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 Act.
Independent examiner's statement
I have completed my examination. I con fi rm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
.................................Simon Ellingham
Simon Ellingham FCA
Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR
Dated: 11 May 2023
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Earl of Chichester's Charitable Trust
Statement of fi nancial activities for the year ended 31 December 2022
| Notes Income Donations Investment income Gift aid receivable Interest received Total income Expenditure Raising funds Charitable activities - grants 3 Charitable activities - support costs Total expenditure 2 Net income/(expenditure) before (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
£ 25,000 30,348 6,250 98 12,000 20,708 2,580 |
2022 £ 61,696 (35,288) 26,408 (113,199) (86,791) 1,656,863 1,570,072 |
£ 2,190 29,945 - - 12,185 18,555 2,532 |
2021 £ 32,135 (33,272) (1,137) 172,100 170,963 1,485,900 1,656,863 |
|---|---|---|---|---|
All income and expenditure derives from continuing activities.
The notes on pages 6 to 10 form part of these accounts.
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Earl of Chichester's Charitable Trust
Balance sheet as at 31 December 2022
| Notes Fixed assets Investments 6 Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Net assets Income funds Unrestricted funds |
£ - 56,787 56,787 (6,772) |
2022 £ 1,520,057 50,015 1,570,072 1,570,072 1,570,072 |
£ 181 34,346 34,527 (5,567) |
2021 £ 1,627,903 28,960 |
|---|---|---|---|---|
| 1,656,863 | ||||
| 1,656,863 | ||||
| 1,656,863 |
The accounts were approved by the Trustees and authorised for issue by:
The Rt Hon The Earl of Chichester
..............................
The Rt Hon The Earl of Chichester
Trustee
Date: 5 May 2023
The notes on pages 6 to 10 form part of these accounts.
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2022
1 Accounting policies
1.1 General information
The Earl of Chichester's Charitable Trust is an unincorporated trust, constituted under a charitable trust deed on 20 January 1966. It is registered with the Charity Commission in England & Wales (No. 283236). The address of the principal o ffi ce is Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG.
1.2 Basis of preparation
The accounts have been prepared under the historical cost convention, as modi fi ed to include the revaluation of certain assets.
The accounts have been prepared in accordance with 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) (e ff ective 1 January 2019).
The trustees con fi rm that the charity is a public bene fi t entity as de fi ned by FRS 102.
The accounts are prepared on the going concern basis; there are no material uncertainties about the fund's ability to continue as a going concern.
1.3 Income
Donations are recognised on receipt or when they have been communicated as receivable in writing with noti fi cation of both the amount and settlement date.
Interest on funds held on deposit is included upon noti fi cation of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and noti fi cation has been received of the dividend due.
Income from investments is credited in the statement of fi nancial activities in the period in which it is receivable.
1.4 Expenditure
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classi fi ed under the headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in furtherance of the charitable objects of the charity. The grants are accounted for where the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant.
Support costs consist of costs not directly attributable to direct charitable expenditure or raising funds but which are in respect of the general administration of the charity and overall management of the funds.
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2022
1 Accounting policies
(Continued)
1.5 Investments
Fixed asset investments are stated at market value at the balance sheet date. The statement of fi nancial activities includes the net gains and losses arising on revaluations and disposals throughout the year.
Unrealised gains or losses are recognised in the statement of fi nancial activities. Realised gains are the di ff erence between disposal proceeds and carrying value and are recognised in the statement of fi nancial activities under gains and losses on investments.
1.6 Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes.
2 Expenditure
| Raising funds Investment management fees Charitable activities - grants Grants payable (see note 3) Charitable activities - support costs Accountancy fees Bank charges Independent examiner's fees |
2022 2021 £ £ 12,000 12,185 20,708 18,555 1,260 1,260 - 36 1,320 1,236 35,288 33,272 |
|---|---|
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2022
| 3 Grants payable Academy of St Martin in the Fields (formerly Academy Concerts Society) AFK Alzheimer's Society Amnesty International UK Barnardo’s Bhopal Medical Appeal Blind Veterans UK Book Aid International Brain Research Limited British Red Cross C.A.S.E. Chalke Valley History Trust Christian Aid Christian Blind Mission David Rattray Memorial Trust Foundation Derby Toc H Children's Camp Dream Holidays Environmental Investigation Agency UK Freedom from Torture Helen & Douglas House La Nuova Musica Live Music Now Limited Marie Curie Mission Aviation Fellowship UK (MAF) National Hospital Network National Youth Opera GB Opera Rara Practical Action Queen Elizabeth's Foundation RAF Benevolent Fund Random Opera Company React Royal Hospital for Neuro-Disability Royal Opera House Covent Garden Foundation Sight Savers Sir Simon Milton Foundation SPEAK Suicide Prevention Stars Appeal St John's Smith Square St Mungo's Strongbones Children's Charitable Trust The Community Foundation for Wiltshire and Swindon The Guildhall School Trust The Passage Carried forward |
2022 £ 300 200 300 - - - 50 200 450 100 - 1,500 200 - - 300 400 250 - 200 3,500 - - 350 200 300 1,200 - 250 150 500 250 - 6,958 - - - - - 200 - - - - 18,308 |
2021 £ - - 400 200 150 250 - - 450 - 150 1,250 - 200 500 - 200 - 450 250 - 250 200 350 - - - 200 - - - 250 200 8,225 450 250 100 200 150 150 200 100 500 330 |
|---|---|---|
| 16,555 |
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2022
| 3 Grants payable Brought forward The Salisbury Cathedral Girl Choristers' Fund The Salisbury Cathedral Trust The Salvation Army The Young Musicians Symphony Orchestra Tusk Trust Limited Wiltshire Community Foundation Wiltshire Creative Woodford Valley PCC ZANE |
(Continued) 2022 2021 £ £ 18,308 16,555 1,000 1,000 500 - 100 100 - 200 250 - 300 - 250 - - 500 - 200 20,708 18,555 |
(Continued) 2022 2021 £ £ 18,308 16,555 1,000 1,000 500 - 100 100 - 200 250 - 300 - 250 - - 500 - 200 20,708 18,555 |
|---|---|---|
| 18,555 |
4 Trustees
None of the trustees (or any person connected with them) received any remuneration during the year and none of them were reimbursed for expenses incurred in the performance of their duties (2021: none).
5 Employees
There were no employees during the year (2021: none).
6 Fixed asset investments
| Market value at 1 January 2022 Disposals at carrying value Acquisitions at cost Change in value in the year Market value at 31 December 2022 Book cost at 31 December 2022 |
2022 2021 £ £ 1,627,903 1,457,999 (315,345) (210,019) 289,188 216,975 (81,689) 162,948 1,520,057 1,627,903 1,257,881 1,255,717 |
|---|---|
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2022
| 7 Debtors Dividend due 8 Creditors: amounts falling due within one year Investment management fees Accountancy fees Independent examiner's fees |
2022 £ - - 2022 £ 2,932 1,320 2,520 6,772 |
2021 £ 181 |
|
|---|---|---|---|
| 181 | |||
| 2021 £ 3,107 1,260 1,200 |
|||
| 5,567 |
9 Related party transactions
During the year, The Rt Hon The Earl Of Chichester donated £25,000 (2021: £2,190) to the charity.
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