THE CHALET TRUST
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Charity Registered Number 313599
THE CHALET TRUST CONTENTS
| Page | |
|---|---|
| Trustees' report | 1-3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the accounts | 6-9 |
| Independent examiner's report | 10 |
THE CHALET TRUST TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
Page 1
The trustees present their report and accounts for the year ended 31 December 2021.
Reference and Administrative Details
Registered charity name THE CHALET TRUST Charity registration number 313599
The Trustees
The trustees who served during the year were:
Dr Mark Byford Dr Keith Leonard Dorrington Dr Stephen Golding Rev Bruce Richard Lawrence Kinsey Dr Jack Matthews Prof Dominic O’Brien Dr William Everitt Poole Dr Nicola Zoe Trott
Structure, governance and management
The Trust is registered with the Charity Commission (number 313599) and is constituted by a Charitable Settlement dated 25 March 1971.
THE CHALET TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Page 2
Objectives and activities
Objects
The Chalet Trust exists to provide reading parties in the Haute Savoie for students of the University of Oxford, principally though not exclusively for those from the three Colleges represented on the Trust. The property administered by the Trust is open for the summer vacation, allowing on average six parties of ten days each. The current aspiration of the Trustees is to manage the Trust’s resources so that its objectives can be met wherever possible from the interest on its capital investment. In recent years the Trustees have carried out a programme of renovation to meet Health and Safety requirements and now conduct a regular programme of maintenance and repair. Support is also given to those whose participation would be prevented by hardship.
In setting the objectives, the charity’s trustees have read and have paid due regard to the Charity Commission’s general guidance on public benefit.
Achievements and performance
In 2021 the Trust was unable to run any reading parties because of restrictions imposed by the pandemic.
Review of the year
The financial results for the year are shown in the statement of financial activities on page 4.
General funds stood at £68,199 as at 31 December 2021, a decrease of £16,371.
THE CHALET TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Page 3
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year, which 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 sufficient accounting records that 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 Charity (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 prevention and detection of fraud and other irregularities.
On behalf of the board of trustees
Stephen Golding
Chairman of Trustees Dated: 12th May 2022
THE CHALET TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
Page 4
| Notes Incoming Resources Donations 2 Grants 3 Investment Income 4 Rent 5 Total Incoming Resources Resources Expended Administration and property expenses 6 Total Resources expended Other Recognised Gains and Losses (Loss)/Gain on investment Net movement in funds Fund balances at 1 January 2021 Fund balances at 31 December 2021 |
General Restricted Trust Total Total Fund Fund Fund 2021 2020 £ £ £ £ £ 0 148,548 0 148,548 364 3,000 0 0 3,000 3,000 16,246 0 0 16,246 17,730 0 0 0 0 0 |
|---|---|
| 19,246 148,548 0 167,794 21,094 |
|
| 35,617 148,548 0 184,165 18,280 |
|
| 35,617 148,548 0 184,165 18,280 |
|
| 0 0 64,368 64,368 (16,321) |
|
| (16,371) 0 64,368 47,997 (13,507) 84,570 0 496,021 580,591 594,098 |
|
| 68,199 0 560,389 628,588 580,591 |
Page 5
FOR THE YEAR ENDED 31 DECEMBER 2021
THE CHALET TRUST BALANCE SHEET
| Notes Fixed assets Investment in subsidiary companies 8 Investment in Balliol College Trust Fund 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Funds General fund Trust fund 12 |
£ £ £ £ 4 4 560,389 496,021 560,393 496,025 59,858 64,022 9,337 21,544 69,195 85,566 1,000 1,000 68,195 84,566 628,588 580,591 68,199 84,570 560,389 496,021 628,588 580,591 31.12.2020 31.12.2021 |
£ £ £ £ 4 4 560,389 496,021 560,393 496,025 59,858 64,022 9,337 21,544 69,195 85,566 1,000 1,000 68,195 84,566 628,588 580,591 68,199 84,570 560,389 496,021 628,588 580,591 31.12.2020 31.12.2021 |
|---|---|---|
| 580,591 | ||
| 84,570 496,021 |
||
| 580,591 |
The accounts were approved by the Trustees on
Stephen Golding Chairman of Trustees
THE CHALET TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
Page 6
1 Accounting policies
1.1 Basis of preparation
The charity constitutes a public benefit entity as defined by FRS102. The accounts have been prepared on a going concern basis under the historical cost convention modified by the revaluation of investments to fair value, being determined as current market value. The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.
The accounts have been prepared in accordance with UK Generally Accepted Accounting Practice, the Statement of Recommended Practice applicable to charities (FRS102) and the Charities Act 2011.
1.2 Incoming resources
Income is recognised on a receivable basis.
1.3 Resources expended
Expenditure is recognised in the year in which it is incurred.
1.4 Investments
Investments have been valued at market value at the balance sheet date.
2 Donations
| D Critchley DS & MF Walton Roof Appeal PayPal, S J Golding Grants Balliol College grant |
2021 2020 £ £ 0 25 0 250 148548 0 0 89 |
|---|---|
| 148548 364 |
|
| 2021 2020 £ £ 3000 3000 |
3 Grants
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Page 7
| 4 Investment income Income from investments Interest receivable 5 Rent Balliol College University College New College Rent refund 6 Administration and property expenses Property Property repairs & maintenance French property taxes Insurance Administration Honoraria Emmerson Bursaries Balliol College Trust Fund fees Sundry Exps Diary work Roof renovation Legal fees |
2021 2020 £ £ 16,242 17,729 4 1 16,246 17,730 2021 2020 £ £ - - - - - - - - 0 0 2021 2021 2020 Restricted General General £ £ £ 0 222 10,580 0 1,133 1,858 0 2,034 1,831 0 1,000 1,000 0 0 0 0 406 443 0 56 0 0 1,686 1,699 148,548 28,197 0 0 883 869 |
2021 2020 £ £ 16,242 17,729 4 1 |
|---|---|---|
| 16,246 17,730 |
||
| 2021 2020 £ £ - - - - - - - - |
||
| 0 0 |
||
| 148,548 35,617 18,280 |
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Page 8
7 Trustees
None of the trustees received any remuneration or expenses during the year in respect of their services as Trustees. (2020: NIL)
8 Investment in subsidiary companies
| £1 shares in Chalet des Anglais £ Cost At 1 January 2021 2 At 31 December 2021 2 9 Investment in Balliol College Trust Fund Market value at 1 January 2021 (2,108 shares at £235.30) Gain/(Loss) on investment Market value at 31 December 2021 (2,108 shares at £265.84) |
£1 shares in Chalet des Melezes £ 2 2 |
Total £ 4 |
|---|---|---|
| 4 | ||
| £ 496,021 64,368 |
||
| 560,389 |
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Page 9
| 10 Debtors Balliol College Trust Fund Rent University College 11 Creditors: amounts falling due within one year Honoraria French Taxation 12 Trust Fund Balance at Incoming Outgoing 01.01.2021 Resources Resources £ £ £ Balliol College Trust Fund 496,021 - - 496,021 0 0 |
10 Debtors Balliol College Trust Fund Rent University College 11 Creditors: amounts falling due within one year Honoraria French Taxation 12 Trust Fund Balance at Incoming Outgoing 01.01.2021 Resources Resources £ £ £ Balliol College Trust Fund 496,021 - - 496,021 0 0 |
2021 2020 £ £ 59,858 64,022 - - |
|---|---|---|
| 59,858 64,022 |
||
| 2021 2020 £ £ 1,000 1,000 - - |
||
| 1,000 1,000 |
||
| Gains & Balance at Losses 31.12.2021 £ £ 64,368 560,389 |
||
| 496,021 0 0 |
64,368 560,389 |
This fund comprises 2,108 shares in Balliol College Trust Fund.
13 Analysis of net assets between funds
| Fund balances at 31 December 2021 are represented by: Investments Current assets Creditors: amounts falling due within one year |
General Trust Total Fund Fund £ £ £ 4 560,389 560,393 69,195 - 69,195 (1,000) - (1,000) |
|---|---|
| 68,199 560,389 628,588 |
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
page 10
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF THE CHALET TRUST
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 4 to 9.
Responsibilities 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 2. 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.
Stephen J Wetherall FCA Independent examiner
Oxford
Dated 27 October 2022