The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting 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 (FRS 102)" (effective 1 January 2019).
The Charity aims to assist people in need by providing grants and accommodation.
The Charity owns several properties in Chester so enabling generation of rental income, the provision of Almshouse accommodation and the provision of office accommodation to Third Sector organisations. The Charity’s objectives can be summarised as follows:
To continue the provision of Almshouses by maintaining and improving the properties
To continue to improve the quality of life of individuals falling within the scope of the Charity by providing grants and support to organisations providing a service to those individuals
To improve the educational outcome of individuals falling within the scope of the Charity by continuing to provide bursaries and funding towards educational costs
To promote the Bluecoat building as a Third Sector Hub and commercial meeting venue for Chester
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
During the year the charity and stakeholders have embarked on a clear methodology to develop strategy and strategy development. To do so, we have used and considered a theory of change to help us define our future ambitions.
Our vision statement declares the mid-to-long-term vision of the charity. “Bringing hope and change to our community” and is our overarching target which projects The Chester Bluecoat Charity into the future and in so doing will help us define the plan and execution of getting us there.
Our mission statement is a short description of the purpose of the charity and reflect our articles and purpose. “To support and improve the lives of those impacted by poverty, disadvantage and inequality” explains what we do, offering direction and focus for everyone and what they can expect from us.
Our values are now clearly defined as Passionate, Collaborative and Brave and are the foundations of everything we do. We have been collaborative, recognising that meaningful change happens through strong relationships. By working closely with grantees, communities, and sector partners, we have shared knowledge, listened deeply, and strengthened our collective ability to respond to the change required by the charity.
We remain passionate about our mission, driving hope and change with commitment and urgency in the face of growing need. Our team and trustees have shown unwavering dedication, ensuring that every action we have taken is rooted in purpose and impact.
We have been brave making bold decisions in often uncertain times, challenging traditional thinking, and stepping forward to lead when it matters most. Whether through strategic funding shifts or new initiatives, we have embarked on a new journey, embracing innovation in delivery of our mission.
Together, these values have shaped a year of purposeful action and lasting progress.
Key changes and achievements during 2024:
Developed a clear and focused strategic plan to guide the charity’s future direction.
Maintained ongoing support for the Almshouse provision, benefiting all 17 residents.
Continued investment in the maintenance and improvement of the charity’s property portfolio.
Successfully unlocked investment funds previously restricted by a permanent endowment.
Sustained our grant-giving programme, providing valuable support to not-for-profit organisations in and around Chester.
The bursary provision at both The King’s and The Queen’s Schools has been discontinued for new pupils following the September 2024 intake.
A key development milestone has been the opening of Calm Coffee CIC’s wellbeing hub. As the first initiative of its kind, it involved transforming unused space within the Bluecoat building to support Calm Coffee CIC in its start-up and launch. This hub now serves as a vital resource for delivering wellbeing services to the community.
During the year the Charity received income of £572,629 (2023: £551,483), the current year comprising of donations of £400, charitable maintenance contributions of £78,622, charitable rent and services charges of £127,119, investment rental of £334,500, listed investment income of £28,560 and interest of £3,428.
The charity expended £582,184 (2023: £548,841), the current year comprising charitable grants of £158,715, maintenance costs of £70,352, investment management fees of £5,888, and support and governance costs of £347,229.
The resultant deficit before investment gains was £9,555 (2023: surplus of £2,642). Investment gains were £33,396 (2023: £43,670) leaving net income movement in funds of £23,841 (2023: £46,312)
On 31 December 2024 the charity had investments which had a market value of £987,012 (2023: £942,094). The charity had fixed assets of; tangible assets at a carrying value of £5,809,955 (2023: £5,912,356), heritage assets at a carrying value of £120,050 (2023: £120,050) and investment properties at a fair value of £2,760,000 (2023: £2,760,000).
Historic assets held by the charity include:
Freehold property
Almshouses £2,000,220
Bluecoat Building £3,624,000
Investment property
47 Eastgate Street (including Kings Arms Kitchen) £2,260,000
45 Eastgate Street £500,000
Heritage assets
Silver £120,050
Mock Parlour Not attributed
At 31 December 2024 total net assets were £9,297,205 (2023: £9,273,365) comprising the Endowment Fund £nil (2023: £974,734) and the unrestricted General Fund £9,297,205 (2023: £8,298,631).
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The appropriate risk register is reviewed at appropriate sub-committee and main board together with appropriate planning.
The Charity’s main objectives for next year are:
Outcome 1
We will maximise our opportunities for community engagement, inclusion and collaboration.
Outcome 2
We will enable lasting outcomes for the community, providing support that makes a real difference.
Outcome 3
We will enhance our public and professional profile, ensuring we are regarded as a community leaders who influence the local charity sector.
Outcome 4
We will maximise the use of our assets and resources to deliver real difference, enabling charities and communities to thrive
We will achieve our mission by focusing on three core areas: our Charity Hub, our Grant-Giving Programme, and our Almshouses. Our priorities include:
Providing Almshouse Accommodation and Support
Continue offering safe and supportive housing for individuals in need within our community.
Maintaining and Improving Almshouse Properties
Invest in the ongoing upkeep and enhancement of our almshouses, ensuring residents receive appropriate support and a high standard of living.
Developing the Chester Bluecoat Charity Hub
Establish the Bluecoat as a hub of choice for charities—offering financial, practical, and strategic support to small or startup organisations and community projects.
Increasing Commercial Revenue
Grow income from room and venue hire within the Bluecoat building to support our charitable work sustainably.
Delivering Strategic Grant Funding
Provide grants to core projects in and around Chester, with a particular focus on:
Improving health and wellbeing across communities
Creating opportunities and building resilience for young people and future generations
Supporting the essential infrastructure of charitable organisations such as; staff salaries, rent, administration, start-up costs and service delivery capacity.
Exploring Co-Funding Partnerships
Collaborate with other grant funders to co-finance initiatives that support people in need and amplify collective impact.
Reviewing Strategy and Impact
Regularly assess our strategic objectives and measure our effectiveness in delivering on our mission.
The charitable company, The Chester Bluecoat Charity (company number 12305820) was incorporated on 8 November 2019 following Charity Commission approval for that company to be registered as a charitable company.
The trustees received formal approval from the Charity Commission on 18 December 2020 for a scheme whereby the new company replaces the individual trustees as the sole trustee of Chester Municipal Charities. The Governing document is the scheme dated 18 December 2000.
The registration of the two entities will be linked under a single charity registration. The external charity will be referred to as The Chester Bluecoat Charity, with legal and financial responsibilities continuing to lie with the original incorporated charity.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Up to eleven trustees can be appointed to fulfil specific areas of expertise. Up to two further trustees are nominated by Cheshire West and Chester Council. Trustees receive training as appropriate and make all necessary declarations as are legally required upon their appointment.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to:
settle the terms of payment with suppliers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
pay in accordance with the company's contractual and other legal obligations.
The Charity’s main board meets every two months, and there is one committee to manage the Finance and Governance, and Grant Giving.
In accordance with the company's articles, a resolution proposing that Champion Accountants LLP be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of The Chester Bluecoat Charity for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements 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, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, 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 UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.
Opinion
We have audited the financial statements of The Chester Bluecoat Charity (the ‘charity’) for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit is considered capable of detecting irregularities, including fraud
The responsibility for the prevention and detection of irregularities, including fraud, lies with the trustees and with those charged with governance. The objectives of our audit in respect of irregularities and fraud are to assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient, appropriate audit evidence regarding the assessed risks and to respond appropriately to fraud or suspected fraud identified during the audit.
Audit procedures
We determine significant applicable laws and regulations through discussion with those charged with governance and our own knowledge of the industry and design audit procedures to help identify instances of non-compliance with those laws and regulations that may have a material effect on the financial statements.
We consider the applicable laws and regulations to be the financial reporting framework (FRS 102 and the Companies Act 2006), charity law, employment law, and the Health and Safety at Work Act 1974.
We consider the control environment and the procedures in place to address identified risks, including management override, non-compliance with laws and regulations and to prevent and detect fraud or irregularity. Our procedures are designed to provide reasonable assurance that the financial statements are free from material misstatement or error and include: enquiries of management and of staff in key compliance functions; review of reported incidents and reports from regulators; review of minutes of meetings of those charged with governance; review and testing of manual journals, relevant nominals and significant transactions outside the normal course of business; review of financial statement disclosures and testing to supporting documentation; performance of analytical procedures.
We are not responsible for preventing non-compliance and due to the inherent limitations of an audit, as described above, the audit cannot be relied upon to detect all instances of non-compliance with laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Chester Bluecoat Charity is a charitable company limited by guarantee incorporated in England & Wales. The registered office is The Bluecoat, Upper Northgate Street, Chester, Cheshire, CH1 4EE
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include Head Office costs, finance, personnel, payroll and governance costs.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings, some of which are listed properties, are included at cost and are not depreciated. It is the Governors’ policy to maintain the buildings in a good state of repair, consequently they are considered to have an indefinite useful economic life. Annual impairment reviews have so far confirmed that the service potential of the buildings remains undiminished.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
Heritage assets represent historic artefacts held by the Charity which are principally held and maintained for their contribution to knowledge and culture. The assets are recorded at their deemed cost when they were gifted to the Charity. Where it is impracticable to obtain a valuation of the assets, the assets are not held on the balance sheet at a valuation. The assets have been assessed to have indefinite useful lives and are therefore not depreciated. The heritage assets are reviewed at each reporting date for impairment - this may be caused by physical deterioration, breakage or new evidence giving rise to doubts over their authenticity.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Property valuations are carried out by a Chartered Surveyor who is a trustee of the charity. No depreciation is charged on freehold properties as these are maintained to a high level, and regular revaluations are performed. Actual market values of properties can vary.
The charity has committed to providing unconditional grants and bursaries to local organisations over multiple financial years. The long term commitments in the accounts are estimates based on the length of time the beneficiaries are expected to receive funding. The actual commitment may increase with inflation or decrease with beneficiaries leaving the schemes.
Almshouses maintenance contributions
Bluecoat rent and service charges
Provision and maintenance of Almshouses
Provision and maintenance of Bluecoat building
Grants
Grant funding - Institutions
Education support
The Charity funded three full bursary places at both The King’s School and The Queen’s School. For the year ended 31 December 2024 grants awarded amounted to £134,568 (2023: £124,780).
Charitable support
Cheshire West Voluntary Action received grants from the Charity towards core costs so that they could continue to provide valuable services. For the year ended 31 December 2024 grants awarded amounted to £5,500 (2023: £9,925).
Supporting organisations
The Charity was pleased to be able to provide grant funding to a number of charitable and community organisations based in Chester. These included multi-year grants for core costs of organisations providing vital services in their local communities – such as meeting spaces, counselling support and finance and debt advice. This helps these organisations to make reliable future planning and maintain successful services.
Additionally the Charity has provided multi-year funding for projects helping local people with specific needs in mental health support and recovery from physical illness.
Grant funding - Individuals
In line with the Charity's policy, the Charity did not provide any direct support to individuals during the 2024 year (2023: £nil).
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023: £nil).
None of the trustees incurred or were reimbursed expenses during the year (2023: £nil).
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Silver - Seal Matrix and Almsman's Badges
A collection of silver Almsman's badges and a seal matrix and mount held in the Grosvenor Museum on behalf of the Charity. These are recorded at their historic insurance replacement cost upon the Charity being gifted these assets in order to preserve their history.
Kings Arm's Kitchen Mock Parlour
Once forming the interior of the public house of 57 Eastgate Street the contents of "The Honourable Corporation of the Kings Arms Kitchen" the Mayor's parlour is now being preserved in a room at the Grosvenor Museum. This does not carry at a value in the balance sheet.
Investment property comprises the historic buildings of 45 Eastgate Street and 47-57 Eastgate Street in Chester City centre. The fair value of the investment property has been arrived at on the basis of a valuation carried out to reflect the value at 31 December 2024 by Justin Rice-Jones FRICS a Chartered Surveyor and trustee of the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Listed Investments
The above investments have been stated at market value. At 31 December 2024 the historic cost of the investments was £658,135 (2023: £581,467).
Included in the above investments are overseas investments with a valuation of £277,186 (2023: £255,266).
Included within accruals and deferred income is £78,757 of deferred income arising from rents received in advance (2023: £77,882). The full amount deferred in 2023 has been recognised in income in 2024.
The charity has committed to providing unconditional grants and bursaries to local organisations. A commitment has been recorded in the financial statements within other creditors falling due within one year of £169,722 (2023: £206,561). Each year the commitment unwinds with the grants paid and increases with the additional grants awarded.
The charity has committed to providing unconditional grants and bursaries to local organisations. A commitment has been recorded in the financial statements within other creditors falling due after more than one year of £424,170 (2023: £422,624). Each year the commitment unwinds with the grants paid and increases with the additional grants awarded.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
Income arising on the endowment funds during the year is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. During the year, The Chester Bluecoat Charity secured Charity Commission approval to release capital investments from historic endowment restrictions. These funds, now unrestricted, will support the charity’s new strategy and investment review.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year the charity entered into the following transactions with related parties:
The following amounts were outstanding at the reporting end date:
The entities are related by virtue of having a trustee in common.
The charity had no material debt during the year.