CHALDON CHARITIES TRUST
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
DLW ACCOUNTING LTD
Turner House Mill Lane Alton Hampshire GU34 2QG
CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Financial Statements
Year ended 31 December 2024
| Page | |
|---|---|
| Trustees’ annual report (incorporating the director’s report) | 3 |
| Independent examiner’s report to the trustees | 7 |
| Statement of fnancial activities (including income and expenditure account) | 8 |
| Balance sheet | 9 |
| Notes to the fnancial statements | 10 |
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Trustee’s annual report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, 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.
Reference and administrative details
Registered charity name Chaldon Charities Trust Charity registration number 801690 Principal office and registered office 17 Smugglers Close Old Hunstanton Hunstanton Norfolk PE36 6JU
The trustees
The trustees who served during the year and at the date of approval were as follows:
A Millis B Millis M Millis
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Trustee’s annual report ( continued)
Year ended 31 December 2024
Objectives and activities
The charity’s objectives are to apply the income of the Trust fund to make Grants to registered charities in England and Wales in line with governing document. The Grants are for the advancement of health or saving of lives, animals and environment, conservation and heritage.
Public benefit
The Trustees have had due regard to the Charity Commission’s guidelines on public benefit and consider that the Grant making policy is in line with the Public Benefit guidelines.
Achievements and performance
During the year to 31 December 2024 the charity made Grants to registered charities of £17,470 (2023: £24,000)
The investment’s market value again changed frequently over the 12 months to 31 December 2024, The balance as at 31 December was £931,828 (2023: £893,797) which reflected the market volatility.
Financial review
The financial statements for the year show net gain of £39,618 (2023: net gain of £345)
The Trustees have instructed LGT Vestra to manage the Charity’s investment portfolio. The Charity has a balanced investment objective with a medium risk profile.
The average total weighted return on the investments in the year to 31 December 2024 was 1.59%.
Reserves policy
The Charity maintains significant reserves to enable them to make grants on a regular basis. There is very little expenditure incurred by the Charity, other than the Investment Management fees. The level of Grants made is at the discretion of the Trustees.
Plans for future periods
The Charity plans to continue to support registered charities in line with the Grant Making Policy.
Structure, governance and management
Governing document
Chaldon Charities Trust is a registered charity governed by its Trust Deed (6 June 1989). It registered as a charity on 14 July 1989.
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Trustee’s annual report (continued)
Year ended 31 December 2024
Structure, governance and management (continued)
Grant making policy
The Charity has established its Grant making policy to achieve its objects for the public benefit to help improve the lives of children, young people, charities and voluntary bodies for the advancement of health or savings lives, animals, environment, conservation or heritage.
Recruitment, appointment and training of Trustees
Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who we are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity.
The Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
During the period under review, the Trustees were as listed on page 3.
Risk appraisal
The Trustees acknowledge the Charity Commission’s guidelines regarding reviewing major risks to which the charity is exposed. Operational risks faced by the charity are reviewed on an ongoing basis.
Independent examiner
Penny Wilson of DLW Accounting Ltd has been appointed as independent examiner for the ensuing year.
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the Charity and of the incoming resources an application of resources of the Charity for that period. In preparing these financial statements, 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 of 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 departures disclosed and explained I the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business,
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Trustee’s annual report (continued)
Year ended 31 December 2024
Structure, governance and management (continued)
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 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. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website.
The Trustees’ annual report was approved on 2 May 2025 and signed on behalf of the board of Trustees by:
A Millis (Chairman) Trustee
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Independent examiner’s report to the trustees of Chaldon Charities Trust
Year ended 31 December 2024
I report to the charity Trustees on my examination of the financial statements of the company for the year ended 31 December 2024 which comprise of the statement of financial activities (including income and expenditure account), balance sheet and the related notes.
Responsibilities and basis of report
As the charity’s Trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2022 (“the 2011 Act”).
I report in respect of my examination of the Charity’s financial statements as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no 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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The accounting records were not kept in accordance section 130 of the Charities Act; or
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The accounts did not accord with the accounting records; or
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The accounts did 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,
Penelope Wilson Independent Examiner
DLW Accounting Ltd Turner House Mill Lane Alton Hampshire GU34 2QG
10[th] April 2025
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Statement of financial activities (including income and expenditure account)
Year ended 31 December 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Interest | 9 | - | 9 | 15 | |
| Investment income | 20,291 | - | 20,291 | 20,218 | |
| Proft on disposal of investments | 5,258 | - | 5,258 | 24,910 | |
| Sundry income | - | - | - | - | |
| Change in market value of investments | 51,460 | - | 51,460 | - | |
| Total income | 77,018 | - | 77,018 | 44,943 | |
| Resources expended | |||||
| Governance | 11,027 | - | 11,027 | 10,621 | |
| Loss on disposal of investments | 8,904 | - | 8,904 | 7,118 | |
| Change in market value of investments | - | - | - | 2,860 | |
| Grants/donations to charities | 17,470 | - | 17,470 | 24,000 | |
| Total expenditure | 37,401 | - | 37,401 | 44,599 | |
| Net income/(expenditure) for the year | 39,618 | - | 39,618 | 345 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 900,704 | - | 900,704 | 900,359 | |
| Total funds carried forward | 940,321 | - | 940,321 | 900,704 |
The statement of financial activities includes all gains and losses recognized in the year,
All income and expenditure derive from continuing activities.
The notes on pages 10 and 11 form part of these financial statements
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Balance sheet
Year ended 31 December 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Investments | 931,828 | 893,797 | ||||
| Current assets | ||||||
| Cash at bank and in hand | 8,943 | 7,357 | ||||
| 8,943 | 7,357 | |||||
| Creditors: Amounts falling due within one year | (450) | (450) | ||||
| Net current assets | 8,493 | 6,907 | ||||
| Net assets | 940,321 | 900,704 | ||||
| Funds of the charity | ||||||
| Restricted funds | - | - | ||||
| Unrestricted funds | 940,321 | 900,704 | ||||
| Total charity funds | 940,321 | 900,704 |
These financial statements were approved by the board of trustees and authorized for issue on 2 May 2025 and are signed on behalf of the board by:
A Millis (Chairman) Trustee
The notes on pages 10 and 11 form part of these financial statements
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Notes to the financial statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales. The address of the registered office is 17 Smugglers Close, Old Hunstanton, Hunstanton, Norfolk PE36 6JU.
2. Statement of compliance
These financial statements have been prepared in compliance with the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting Policies
a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
b) Going concern
The accounts have been prepared on the going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Trust to be able to continue as a going concern.
c) Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Where held, restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of the appeal.
d) Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Income from donations or grants is recognized when there is evidence of entitlement to the gift, receipt is probable and the amount can be measured reliably.
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Investment income is included when receivable.
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CHARITY REGISTRATTION NUMBER: 801690
CHALDON CHARITIES TRUST
Notes to the financial statements (continued)
Year ended 31 December 2024
e) Expenditure
Expenditure is recognized on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the statement of financial activities to which it relates.
f) Investments
Investments are stated at Market Value at the Balance Sheet date.
4. Investment Income
| 4. Investment Income | ||||
|---|---|---|---|---|
| Unrestricted | Total | Unrestricted | Total | |
| Funds | Funds | Funds | Funds | |
| 2024 | 2023 | |||
| Dividends & interest receivable | 20,291 | 20,291 | 20,018 | 20,018 |
5. Analysis of governance costs
| Total Funds | Total Funds | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Independent examination fees | Current year | 450 | 450 |
| Prior year | - | - | |
| Accountancy fees | - | - | |
| Investment management fees | 10,517 | 10,111 | |
| Bank charges | 60 | 60 | |
| Sundry | - | - | |
| 11,027 | 10,621 |
6. Staff costs
No salaries or wages have been paid to employees, including the Trustees, during the year.
7. Trustee remuneration and expenses
No Trustees received remuneration in either the current period or prior year. No Trustees were reimbursed expenses in either the current period or the prior year.
8. Investments
| 8. Investments | |
|---|---|
| Market Value at 1 January 2024 | 893,797 |
| Additions | 136,065 |
| Disposals | (149,494) |
| Change in Market Value | 51,460 |
| Market Value at 31 December 2024 | 931,828 |
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