Earl of Chichester's Charitable Trust Charity registration no. 283236 Trustees' report and unaudited accounts
For the year ended 31 December 2024
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 | S&W 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 of fnancial 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 2024
The trustees present their report and accounts for the year ended 31 December 2024.
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) (effective 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 satisfied that sufficient 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 benefit objective. As donations are made to registered charities, the trustees believe that the Earl of Chichester's Charitable Trust is acting for the public benefit.
Achievements and performance
During the year investment income of £35,481 (2023: £28,644), interest of £436 (2023: £99), donations of £nil (2023: £50,000) and gift aid of £nil (2023: £12,500) was received/receivable. Grants of £27,260 (2023: £24,350) 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 2024
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 financial 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 satisfied that they give a true and fair view of the state of affairs 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 sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial 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: 9 June 2025
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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 2024 which comprise the statement of financial activities, the balance sheet and the notes to the accounts, including a summary of significant 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 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:
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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: 18 June 2025
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Earl of Chichester's Charitable Trust
Statement of financial activities for the year ended 31 December 2024
| 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 (expenditure)/income before gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
£ - 35,481 - 436 13,379 27,260 3,648 |
2024 £ 35,917 (44,287) (8,370) 135,295 126,925 1,714,306 1,841,231 |
£ 50,000 28,644 12,500 99 12,178 24,350 2,982 |
2023 £ 91,243 (39,510) 51,733 92,501 144,234 1,570,072 1,714,306 |
|---|---|---|---|---|
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 2024
| 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 |
£ - 70,783 70,783 (6,460) |
2024 £ 1,776,908 64,323 1,841,231 1,841,231 1,841,231 |
£ 12,500 34,337 46,837 (6,008) |
2023 £ 1,673,477 40,829 |
|---|---|---|---|---|
| 1,714,306 | ||||
| 1,714,306 | ||||
| 1,714,306 |
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: 9 June 2025
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 2024
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 office 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 modified 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) (effective 1 January 2019).
The trustees confirm that the charity is a public benefit entity as defined 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 notification of both the amount and settlement date.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Income from investments is credited in the statement of financial 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 classified 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 2024
1 Accounting policies
(Continued)
1.5 Investments
Fixed asset investments are stated at market value at the balance sheet date. The statement of financial 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 financial activities. Realised gains are the difference between disposal proceeds and carrying value and are recognised in the statement of financial 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
| Expenditure | ||
|---|---|---|
| Raising funds Investment management fees Charitable activities - grants Grants payable (see note 3) Charitable activities - support costs Accountancy fees Independent examiner's fees |
2024 £ 13,379 27,260 2,160 1,488 44,287 |
2023 £ 12,178 24,350 1,530 1,452 |
| 39,510 |
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2024
| 3 Grants payable AFK Alzheimer's Society Blind Veterans UK Book Aid International Breakthrough T1D British Red Cross Chalke History Trust Christian Aid Christian Blind Mission Compton Chamberlayne Parochial Church Council CRISIS Derby Toc H Children's Camp Dignity in Dying Dream Holidays Fauna & Flora International Kiri Te Kanawa Foundation (UK) La Nuova Musica Medecins Sans Frontieres (UK) Mission Aviation Fellowship UK (MAF) Moorfelds Eye Charity Motor Neurone Disease Association National Youth Opera GB Opera Rara Practical Action Ralph Bates Pancreatic Cancer Research Fund React Royal Brompton and Harefeld Hospitals Charity Royal Hospital for Neuro-Disability Royal Opera House Covent Garden Foundation SPANA St Lawrence Parochial Church Council Strongbones Children's Charitable Trust The Echoing Air The Forward Trust The Monteverdi Choir and Orchestras Limited The Passage The Royal Marsden Cancer Charity The Salisbury Cathedral Trust The Salvation Army The Young Musicians Symphony Orchestra Tusk Trust Limited Carried forward |
2024 £ 500 300 150 300 200 - 1,500 200 - - 200 300 - 200 - 300 - 1,500 200 200 500 - 1,000 300 - 300 500 500 13,910 - - 300 500 - - 200 500 700 300 1,000 200 26,760 |
2023 £ 300 450 150 200 - 200 - 600 200 150 200 250 200 - 150 - 5,000 - 350 - 550 500 1,000 200 400 250 - 200 7,750 200 200 400 - 400 1,000 150 - - 300 600 - |
|---|---|---|
| 22,500 |
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2024
| 3 Grants payable Brought forward Wessex Medical Trust Wiltshire Community Foundation Wiltshire Creative Woodford Valley PCC ZANE |
(Continued) 2024 2023 £ £ 26,760 22,500 500 200 - 200 - 500 - 600 - 350 27,260 24,350 |
(Continued) 2024 2023 £ £ 26,760 22,500 500 200 - 200 - 500 - 600 - 350 27,260 24,350 |
|---|---|---|
| 24,350 |
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 (2023: none).
5 Employees
There were no employees during the year (2023: none).
6 Fixed asset investments
| Market value at 1 January 2024 Disposals at carrying value Acquisitions at cost Change in value in the year Market value at 31 December 2024 Book cost at 31 December 2024 |
2024 2023 £ £ 1,673,477 1,520,057 (582,984) (146,808) 573,843 198,417 112,572 101,811 1,776,908 1,673,477 1,412,308 1,304,201 |
|---|---|
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Earl of Chichester's Charitable Trust
Notes to the accounts for the year ended 31 December 2024
| 7 Debtors Gift aid receivable 8 Creditors: amounts falling due within one year Investment management fees Accountancy fees Independent examiner's fees |
2024 £ - - 2024 £ 3,400 1,560 1,500 6,460 |
2023 £ 12,500 |
|---|---|---|
| 12,500 | ||
| 2023 £ 3,056 1,500 1,452 |
||
| 6,008 |
9 Related party transactions
During the year, The Rt Hon The Earl Of Chichester donated £nil (2023: £50,000) to the charity.
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