THE CHALEf TRUST TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Charlty Re8lstered Number 313599 ThE CHALEf TRUST CONTENTS Page Trustees, report Statement of financial actlvitles Balance sheet Notes to the accounts Independent examlner's report 10 THE CHALET TRUST TRUSTEES, REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 Page I The trustees present their report and accounts for the period to 31 December 2023. Reference and AdmlnlstT¥tSve Detalls Reglstered charity name THE CHALETTRUST Charlty reglstratlon number 313599 The Trust¢es The trustees who Served during the year were: Dr Mark BVord Dr Keith Leonard Dorrln8ton Dr Stephen Goldln8 Rev Bruce Rlchard Lawrence Klnsev Drjack Matthews Prof Domlnlc O'Brlen Dr Willlam Everitt Poole Dr Nicola zoe Trott Strurtur•, iovemance and manalement The Trust15 re8lStered with the Charlty Commlsslon (number 3135991 and15 constltuted by a Charitable Settlement dated 25 March 1971. THE CHALET TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Pa8e 2 ObJ•ctlve$ #nd *ctlvltl•• Obl•cta The Chalet Trust exists to provlde readlng p8rtle$ In the Haute S8vole for sludents of the Unlverslty of Oxford, prlnclpamy Ihough not exckJsSvely IOT those from the three Colleges Tepresented on the Twst. The property adminislered by the Trust is open for the Bummer vacaliDn, all0￿1ng on average six parties ol len d8ys each. The current 8splratlon of ihe Trustees Is to m8n8ge the Trust's resources so that Its obleGtlves can be mel ￿ereVer possible from (he InteTesl on Its c8pII81 investment. In recent years Ihe Trustees have carri8d oul a pyogramme of renovabon to me81 Heallh and Safaty requirement8 and now conduct a r•oular wogromrne of malntenance and repalr. Support Is also glven lo those whose partldpatlon wrukl be prevented by hardshlp. In 8•ttlng the oty'8ctivèB, the charity'8 Iru8tè88 have road and havo paid duo regard io the Charlty CommIS$l￿,$ general quldanc8 on publlc beneflt. AGhl•v•m•nt• and p•rfornianc• In 2023 tho Tru81 ran o numboi of 8UCCè88lul rèadlng p8rtle8. R•vl•w of th• y•ar The financial resutt8 for the year are shown in the Blatemenl oi financial activiUe8 on page 4. G•neral fund6 slood al £134,302 as al 31 Decembgr 2023, an incfease of £38,119. THE CHALET TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Page 3 Stal•m•nt of truBt•èB' r•spon8lblHtI•s The Irustees are responsible for preparing the Trustees, Report and the accounts In accordance 8ppIic8btre 18w and Unlled Kingdom AGGounllng Standards (United King(iom Gener811y Accepted AGcountlng Practice). The law applicable lo ¢harilleB In England and Wal8s r￿UIreS th8 trusteès lo prepare accoun18 for each financial year, whlch glve a true and 18lr view of the st81e of effalr5 01 thfj charity and ol the incoming resources and appllcailon of resources of the ch8rfty for that ye8r. In preparing the8e accoun16. the Iru81888 aré required lo.. . 801ect 8Uitable accounting pol'rAe8 and then apply them Gon6iitenily: - ob8oN• th• m8thod8 and P￿ndp1a8 In the Charftyo8 SORP., - make judg8m8nts and asllmat88 that ar• reasonable and prud•nl', 8tste thethor applicable accounting Standards have been lollowed, $utr4'ed to any matenal departur88 d18dosed and explained In the accoun18,' and pr8paro the accounts on the going concern ba818 unle88 It 16 inappropriate to pr06umo that tho charity ¥MII continua In oporalion. Tho Ifuslees are responsible for keeping 8uffirJ8nt accounting records Ihal di&clos8 wth r•aswabl• aLKuracy al any time the financial po8ition of the charity and enable them lo onaurè Ihal the accounts compty wlh thè Chailiie8 Act 2011, the Charity (Accounts and Report81 RogLtLallDn6 2008 and the provl8ion6 of thè trust deod. They are 8lso responsible for 88fegu8rdlng the èÈAets of the charlly and hence for laklng reasonable $tep5 for the preventlon and deteGllon of fraud and olher Irregulartlle6. On bohaff of the b08rd of trusteos Stephen Gclding Chairman of Trusleos D8led.' 25th O¢tober 2024 THE CHALETTRUST STATEMENT OF FINANaAL A￿1VITIES FOR ThE PERIOD ENDED 31 DECEMBER 2023 Page 4 General Fund Trust Fund Totsl 2023 General Fund Tntst Fund Total 2022 Notts omln Donatlons Grants Investment Income Rent 18.598 18,598 12,990 12,99) 19.363 5,114 19,363 5,114 17,980 3,455 17.980 3,455 Tot•1 Incomlni R•souT¢•$ 46,075 46,075 37,425 37,425 $ource Ex ende Admlnlstratlon and property expenses 7,956 7,9S6 9,441 9,441 Total fteiourtes expend•d 7,956 7,956 9,441 9,441 Oth•r A•co8nli•d Gilns and Loss•s ILossI/Gain on Snvestment 0 124,6961 124.6961 22,480 22,480 N•t mo¥em•Trt In fvnds 38,119 124,6961 13,423 27.984 22,480 50,464 Fund balances at l January 2023 96,183 582,869 679,052 68,199 560,389 628,588 Fund bala￿•$ at 13 Ortob•r 2023 134,302 558,173 692.475 96,183 582,869 679,052 THE CHALrr TRUST BALANCE SHEEr Page 5 FOR THE PERIOD ENDED 31 DECEMBER 2023 Notes 31.12.2013 31.12.2022 Flxed assets Investment in subsidiary companies Investment In Balliol College Trust Fund 558,173 558.177 582,869 582,873 Currènt assets Debtors Cash at bank and in hand io 99.964 35,334 135.298 80.391 16.788 97,179 Credltors: amounts falllng due wlthln one year li 1,000 N•t current assets 134,298 96.179 Total assets less current Ilabllltles 692,475 679,052 Funds General fund Trust fund 134,302 SS8,173 96,183 582,869 12 692,475 679.OS2 The accounts were approved by the Trustees on 25th October 2024 Stephen Goldlng Chalrman of Trustees THE CHALET TRUST NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2013 Page 6 l A£countln8 pollcles 1.1 Ba51s of preparatlon The charlty constltutes a publlt benefit entlty as defined by FRS102. The accounts have been prepared on a goin8 concern basis under the historical cost convention modified by the revaluatlon of Investments to falr value, beln8 determlned as current market value. The accounts are presented in sterllng whlch Is the function31 currenry of the charity and rounded to the nearest pound. The accounts have been prepared In accordance with UK Generally Accepted Accountln8 Prartice. the Statement of Recommended Practice applicable to charities IFRS1021 and the Charltles Art 2011. 1.2 Incomln8 resources Income is reco8nised on a receivable basis. 1.3 Resources expended Expenditvre 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 Oonatlons 2023 General Fund 2022 General Fund General donatlons 18598 12990 3 Grants 2023 2022 Balliol College 8rant 3000 THE CHALET TRUST NOTES TO THE ACCOUNTS {CONTINUED) FOR THE PERIOO ENDED 31 DECEMBER 2023 Pa8e 7 4 Investment Income 2023 2022 Income from investments Interest recelvable 19.176 187 17,969 li 19,363 17,980 5 Rent 2023 2022 8alllol Colle8e Unlverslty College New College Other rent 1,208 2.350 1.556 455 1.320 1.500 180 5,114 3,455 6 Adrnlnlstratlon and property expenses 2023 General Fund 2022 General Fund Property Property repalrs & malntenance French property taxes Insurance 221 1.272 2.379 441 1,221 2,277 Admlnlstratlon Honorèrla Emmerson BursarSes Balliol College Trust Fund fees Sundry Exps Travel exps Roof renovatlon Legal fees Annual retainer 1,000 761 479 165 679 753 449 148 2,070 1.082 7,956 9,441 THE CHALET TRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE PERIOD ENOED 31 OECEMBER 2023 Pa8e 8 7 Trustees None of the trustees receSved any remuneratlon or expense5 durlng the year in respect of thelr services as Trustees.12022.' NIL) 8 Investment In subsldlary companles £1 shares £1 shares in Chalet in Chalet des Anglals des Melezes Total Cost At l January 2023 At 310ecember 2023 9 Investment In Balllol Colleie Tfust Fund Market value at l January 202312,108 shares at £276,501 582.869 Ghln/lLoss} on investment 124,6961 Market value at 31 Oecember 202312,108 shares at £264.79) 558,173 THE CHALET TRUST NOTES TO THE ACCOUNTS ICOP4TINUEDI FOR THE PERIOD ENDEO 31 OECEMBER 2023 Page 9 10 D•btor5 2023 2022 Balliol College Trust Fund Rent Unlverslty College 99,964 80,391 99,964 80.391 11 CredltOTS: amounts talllni due wlthln one ye•r 1023 2022 onorarla French Taxatlon 1,000 1,000 i.ooa IZ Trust Fund Balance at Incomin8 Out8oin8 Gains & Balance at 01.01.2023 Resources Resources Losses 31.12.2023 Balllol Colle8e Trust Fund 582,869 124,6961 558,173 582.869 124,6961 558.173 Thls fund comprlses 2,108 shares In Balllol College Trust Fund. 13 Anilysls of net issets between htnds General Fund Trust Fund Total Fund balances at 31 December 2023 are represented by: Investments Current 8ssets Creditors-. amounts fallln8 due wlthln one yeèr 558,173 558.177 135,298 11,0001 135.298 {I,0001 134,302 558,173 692,475 THE CHALETTRUST NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ÉNDED 31 DECEMOÉR 2023 page 10 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHAL￿ TRUST I report to the charlty trusiees on my examlnatlon of the accounts of the charity forthe year ended 31 December 2023 which are set out on pages 4 to 9. Re5ponslbllltles and b•sl$ of report As Ihe charitvs trustee5 you are responslble for the preparatlon of the accounts In accordance wlth the requlrements of the Charitles Ad 20111'the Act'l. I report In respect Of my examlnation of the charltvs accounts carrled out under sectlon 145 of the Act and in Carrylng out my examination I have followed all the ap￿1¢able DirectSons glven by the Charlty Commlsslon under section 1451Sllbl ol the Act. Independent examIne￿5 statement I h•ve completed my examlnatlon. I confirm that no materlal matter5 have come to my attentlon In ¢onnectlon vlth the examlnatlon 8Svlng me cou5e to belleve that In any materSal respect.. accountln# records were not kept In respect of the tharlty as requlred by sectlon 130 of the Act; or the accounts do not accord with those records- or the accounts do not comply wlth the applicable requliemeThts concernln8 the form and content of èctounts set out In the Charltbes IAccounts and Reports) Aegulations 2￿)8 other than any requirement that the accounts Blve 'true and falr view, whlch is not a matter consldered as part of an Independent examlnation. I have no concerns and have come across no other matters In cDnn*ctSon wlth the examlnbtlon lo which attentlon should be drawn In thls report In order to enable a proper understandin8 of the account5 to be reached. ST Stephen J Wetherall FCA Independent examlner Oxford Dated 2Sth ottober 2024