THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Charity No. 900295 Azets Third Floor, Gateway House, Tollgate Chandlers Ford, Hampshire, S053 3TG, 023 8024 7070 Page 1
THE THISTLETHWAYfE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Independentexaminers. reportto the Trustèes I report on the accounts of the Trust for the year ended 31st March 2025, which are sel out on pages 3tts7. Responsibilities and basis of report As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Acl'l. 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{5llbl of the Act. Independent examiner's statement I have completed my examination. I confirm Ihal no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act,. or the accounts do not accord with those records the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view. which is not a maller considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. James Reilty, ACCA Azots Third Floor, Gateway House Tollgate Chandlers Ford Hampshire S053 3TG Date.. Page 2
THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Charity No. 900295 Annual Reportfor the year ended 31st Maroh 2025 Trustees M Bazeley Esq. M E Thisllelhwayte Esq. S Brocklehursl J Dickson E Johnson Charitable ob-ectives The primary objective of Ihe trust is in accord with the original Deed of Trust, and remains the financial support of the churches in the Parishes of Southwick and Boarhunl. Fundin The reconciled balance available to the Trustees al 31 st March 2024 was £1,527,630. This has now been reduced as expenditure exceeded Ihe income for the year lo 31 sl March 2025 amounting to £51,280. After adding the capital loss for the year the tolal fund available lo carry fOard to 2025126 amounts to £1,460,868. Public benefit The Irustees have given due regard to public benefit when planning the Charity's activities in accordance with the Charity Commission's General Guidance on Public Benefit. Chan e of trustees Nèw trustees may be appointed al any lime by the continuing or retiring Trustees or by a resolution of a meeting of the Trustees provided Ihal a memorandum thereof shall be signed and sealed by the person presiding at such meeting and attested by two other persons present at the meeting. If the total number of Trustees following such appointment shall exceed three then such appointment shall require the wrilten consent of the Founder. The power of appointing a new trustee in the place of the settlor is also vesled in the Founder. Structure Governance and Mana ement The charity is a trust. The governing document is a trust deed. Financial results for the Year Expenditure and grants from the charity are comparable to prior years. Direct expenditure continued to be high due lo the repairs continuing on the church. The Trustees continue their policy to build up as greal a cash balance as possible so as to be able lo contribule substantially to repairs and to fund the Chaplain's Stipend and olher Church costs. The policy was reconfirmed by the Trustees on . when the accounts were approved. E Thistlethwayte Page 3
THE TH1STLETHwAE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST ststement of Financial Activities for the Year to 31st March 2026 Total funds 2025 Total funds 2024 Unrestricted Funds Unrestrieted Funds Income and Expenditure Note Donation from SouthwicklBoarhunl CC Bank interest Income from investments 5,451 5,451 4,153 4,153 53,811 53,811 58,517 58,517 Total Incoming Resources 59,262 69,262 62,670 62,670 Resources Expended Direct charitable expenditure Other expenditure Invegtmenl management fees 99,945 2,780 7,817 9g,945 2,780 7,817 74,232 5,994 7,657 74,232 5,994 7,657 Total Resources Expended 110,642 110,542 87,883 87,883 Net Incomlnglloutgoing) Resources for the Year {51,280) {51,2801 126.213) 125,2131 Other recognised gain$ and losses Gainslllossesl on investments 115,4821 115,4821 24,848 24,848 Net Movement of Funds 166,762 66,7621 365 {366) Balance Brought FoNard at 1st Aprll 2024 1,527,630 1,527,630 1,S27,995 1,527,995 Balance Carried Forward at 31st March 2025 1,460,868 1,460,868 1,527,630 1,527,630 The notes on pages 5 10 7 fomi part of these accounts Page 4
THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Balance Sheet as at 31st March 2025 Note 2025 2024 Fixed Assets Investments 1,428,396 1,510,832 Current Assets Cash at Bank and in Hand 34,032 34,032 18,070 18,070 Current Liabilities Creditors 1,560 1,272 Net Current Assets 32,472 16,798 Net Assets 1,460,868 1,527,630 Funds Unrestricted 1,460,868 1,527,630 The Trustees have acknowledged their responsibilities for preparing accounts which give a true and fair view of the charity's activities for the year then ended in accordance with applicable accounling standards and the Charities Statement of Recommended Practice (FRS102}. Approved by the Board of Trustees and signed on its behalf .Trustee Date:... Page 5
THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Notes to the Accounts for the Year ended 31st March 2025 I Principal accountlng policies Basls of accounting The financial slalements of the Charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP IFRS102) 'A¢ntIng and Reporting by Charities.. 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 IFRS102)', Ihe Charities {Accounls and Reports) Regulations 2008. the Charities Act 2011. The financial statement have been prepared under the historical cost accounting rules wilh the exception for investments which are stated at market value. The financial statements are prepared in sterling, which is the fundional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Going concern The accounts have been prepared on a going concern basis. Incoming resources Donations are recognised in full in the Statement of Financial Activities when receivable. Investment income is recognised when receipt is probable and the amount receivable can be measured reliably. Resources expended Resources expended are recognised in the period in which they are incurred. Resources expended indude attributable VAT which cannot be recovered. Cash at bank and In hand Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Llabilities Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to expenditure. Investments Government stocks and other quoted securities are shown at their market value al the year end. All gains and losses are taken to the Slalement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value or purchase price if later. Unrealised gains and losses are calculated as the difference between market value at the year end and the opening markel value or purchase price if later. Realised and unrealised gains and losses are not separated in the Statement of Financial Aclivilies. Page 6
THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Notes to the Accounts for the Year ended 31st March 2025 2 Direct charitable expenditure 2025 2024 Contribulion to Cost of Stipend and pension of Chaplain Church repair cosls 46,280 53,665 45,131 29,101 99,945 74,232 There was no Trustees, remuneralion or reimbursed Trustees, expenses during the year (2024.. Nil). 3 Other expenditure 2025 2024 Accountant's fees Donation Overseas Custody Charge 1,810 940 30 1,356 4,608 30 2,780 5,994 4 Liabilities 2025 2024 Other creditor Accrual 22 1,250 1,560 1,560 3,272 Page 7
THE THISTLETHWAYTE SOUTHWICK AND BOARHUNT CHURCH AND COMMUNITY TRUST Notes to the Accounts for the Year ended 31st March 2025 5 Investments Carrying value (market value) at beginning of year Additions to investments at cost Disposals at carrying value Net gainl(loss) on revaluation 1,510,832 102,578 (169,532) (15,482) Carrying value (markel value) at end of year 1,428,396 Historic cost 1,167,385 The market value of the portfolio consists of: Equity Investment Instruments Funds & Government stock 595,903 832,493 1,428,396 The carrying value is based on the valuation as at 31 March 2025 (2024: 1,510,832) supplied by the portfolio providers. 6 Control The charity is under the control of the Trustees. Page 8