THE CHALET TRUST
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 2024
Page 1
The trustees present their report and accounts for the year to 31 December 2024.
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 Dr David Favara (appointed 19.01.24)
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 2024
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 2024 the Trust ran a number of successful reading parties.
Review of the year
The financial results for the period are shown in the statement of financial activities on page 4.
General funds stood at £163,220 as at 31 December 2024, an increase of £28,918.
THE CHALET TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
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: 23rd August 2025
THE CHALET TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
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 9 Net movement in funds Fund balances at 1 January 2024 Fund balances at 31 December 2024 |
General Trust Total General Trust Total Fund Fund 2024 Fund Fund 2023 £ £ £ £ £ £ 12,590 0 12,590 18,598 0 18,598 3,000 0 3,000 3,000 0 3,000 20,304 0 20,304 19,363 0 19,363 6,682 0 6,682 5,114 0 5,114 |
|---|---|
| 42,576 0 42,576 46,075 0 46,075 |
|
| 13,658 0 13,658 7,956 0 7,956 |
|
| 13,658 0 13,658 7,956 0 7,956 |
|
| 0 29,518 29,518 0 (24,696) (24,696) |
|
| 28,918 29,518 58,436 38,119 (24,696) 13,423 134,302 558,173 692,475 96,183 582,869 679,052 |
|
| 163,220 587,691 750,911 134,302 558,173 692,475 |
THE CHALET TRUST BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024
Page 5
| 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 4 587,691 558,173 587,695 558,177 70,291 99,964 94,925 35,334 165,216 135,298 2,000 1,000 163,216 134,298 750,911 692,475 163,220 134,302 587,691 558,173 750,911 692,475 31.12.2023 31.12.2024 |
£ £ £ £ 4 4 587,691 558,173 587,695 558,177 70,291 99,964 94,925 35,334 165,216 135,298 2,000 1,000 163,216 134,298 750,911 692,475 163,220 134,302 587,691 558,173 750,911 692,475 31.12.2023 31.12.2024 |
|---|---|---|
| 692,475 | ||
| 134,302 558,173 |
||
| 692,475 |
The accounts were approved by the Trustees on 23rd August 2025
Stephen Golding Chairman of Trustees
THE CHALET TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
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
| General donations Grants Balliol College grant |
2024 2023 General General Fund Fund £ £ 12590 18598 |
|---|---|
| 2024 2023 £ £ 3000 3000 |
3 Grants
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Page 7
4 Investment income
| Income from investments Interest receivable |
2024 2023 £ £ 19,879 19,176 425 187 |
|---|---|
| 20,304 19,363 |
5 Rent
| Balliol College University College New College Other rent |
2024 2023 £ £ 1,477 1,208 2,467 2,350 1,688 1,556 1,050 0 |
|---|---|
| 6,682 5,114 |
6 Administration and property expenses
| Property Property repairs & maintenance French property taxes Insurance Administration Honoraria Emmerson Bursaries Balliol College Trust Fund fees Sundry Exps Travel exps Diary exps Present goblet Annual retainer |
2024 2023 General General Fund Fund £ £ 2,369 221 1,260 1,272 2,768 2,379 1,000 1,000 611 761 497 479 68 165 0 679 3,260 0 825 0 1,000 1,000 |
|---|---|
| 13,658 7,956 |
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Page 8
7 Trustees
None of the trustees received any remuneration or expenses during the year in respect of their services as Trustees. (2023: NIL)
8 Investment in subsidiary companies
| £1 shares in Chalet des Anglais £ Cost At 1 January 2024 2 At 31 December 2024 2 9 Investment in Balliol College Trust Fund Market value at 1 January 2024 (2,108 shares at £264.79) Gain/(Loss) on investment Market value at 31 December 2024 (2,108 shares at £278.79) |
£1 shares in Chalet des Melezes £ 2 2 |
Total £ 4 |
|---|---|---|
| 4 | ||
| £ 558,173 29,518 |
||
| 587,691 |
THE CHALET TRUST NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Page 9
10 Debtors
| Balliol College Trust Fund Rent University College 11 Creditors: amounts falling due within one year Honoraria Retainer 12 Trust Fund Balance at Incoming Outgoing 01.01.2024 Resources Resources £ £ £ Balliol College Trust Fund 558,173 - - 558,173 0 0 |
Balliol College Trust Fund Rent University College 11 Creditors: amounts falling due within one year Honoraria Retainer 12 Trust Fund Balance at Incoming Outgoing 01.01.2024 Resources Resources £ £ £ Balliol College Trust Fund 558,173 - - 558,173 0 0 |
2024 2023 £ £ 70,291 99,964 - - |
|---|---|---|
| 70,291 99,964 |
||
| 2024 2023 £ £ 1,000 1,000 1,000 - |
||
| 2,000 1,000 |
||
| Gains & Balance at (Losses) 31.12.2024 £ £ 29,518 587,691 |
||
| 558,173 0 0 |
29,518 587,691 |
This fund comprises 2,108 shares in Balliol College Trust Fund.
13 Analysis of net assets between funds
| Fund balances at 31 December 2024 are represented by: Investments Current assets Creditors: amounts falling due within one year |
General Trust Total Fund Fund £ £ £ 4 587,691 587,695 165,216 - 165,216 (2,000) - (2,000) |
|---|---|
| 163,220 587,691 750,911 |
THE CHALET TRUST ACCOUNTS FOR THE PERIOD ENDED 31 DECEMBER 2024
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 2024 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
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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.
Stephen J Wetherall FCA Independent examiner
Oxford
Dated 27 Sept 2025