## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- 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:
1. 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
3. 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