HIGHLANDS COTTAGE CHARITY (Registered No 1012785) Registered address — Follifoot House, Amberley, Stroud, GL5 5AG
TRUSTEES THIRTY-FOURTH ANNUAL REPORT 2024/2025
1. Introduction.
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(a) Governing Document: The Charity was founded in 1992 by Miss Mary Layard White, formerly of Highlands Cottage, Pinfarthings, Amberley. The Trust Deed was completed on 27" April 1992 and made between Mary Layard White, James Albert Meadows, Anne Elisabeth Seymour, Anne de Halpert and Peter Duff Abbott Hankins. A supplemental Trust Deed was entered into on the 10th
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| November 2016 and made between the continuing Trustees, namely: Peter Duff Abbott Hankins, | Vivian Leivers, Roger Jeffrey Bush, Richard James William Wood, Susan Jane Page, Beryl Anne Phillips and Michael John Bullock.
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(b) Names of the current Trustees: Peter Duff Abbott Hankins, Vivian Leivers, Roger Jeffrey Bush, Richard James William Wood, Susan Jane Page, Beryl Anne Phillips and Sandra Jane Lampard
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(c) Names and addresses of advisers to the Charity:
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Independent Examiner: Mrs Penny Loe, Chartered Accountant, Edgecombe, Amberley, GL5 5AB 2. Solicitors: WSP Solicitors, 3/7 Rowcroft, Stroud, GLS 3BJ and Willans LLP, 28 Imperial Square, Cheltenham. GL50 1RH
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Bankers: Lloyds Bank, 12 Rowcroft, Stroud, GL5 3BD
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Managing Agents: Bennett Jones Partnership, 31 Parsonage Street, Dursley, GL11 4BW 5. Architect: Chris Stone, Quadra, Nethercourt, Hyde, Stroud. GL6 8NZ
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2. Charitable Objects.
The income of the said Trust Fund and such of the property as the Trustees shall direct, shall be used for charitable purposes for the benefit of the inhabitants of the Parish of Amberley and the contiguous parishes thereof, including but not confined to the following purposes:
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(1) The provision of a house or other suitable accommodation for a Minister or Curate of the Church of England or other paid Church worker in the Parish
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(2) The provision of a house or other suitable accommodation for the poor and/r needy in the Parish and the contiguous parishes. “Needy” shall mean those in need by reason of youth, age, ill-health, disability, financial or other disadvantage.
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' (3) The provision of a house or other suitable accommodation for an employee of Amberley Parochial Church School or any other educational establishment in the Parish.
In administering the charity, the Trustees have considered the Charity Commission’s general guidance on Public Benefit and consider the Charity is fulfilling its objects and public benefit requirement by providing subsidised housing to people in need in the Parish of Amberley and its contiguous Parishes.
3. Accounting Principles.
In accordance with the Charity Commissioners guidelines, the treasurer has adopted the following principles:
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(1) Best use of expendable funds, continuing to maintain all its property and fixtures to a reasonable standard.
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(2) The rental income is paid to Lloyds Bank monthly and the sums are transferred between Lloyds Bank Investment Accounts (when available) and/or into COIF Charities Deposit Fund thereby gaining the benefit of the best available interest rates
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4. Investment Policy.
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(a) The Trustees continue to consider that the yields on investments, represented by the rental income at rates advised by the Managing Agent and the Council Rent Office, are reasonable and are periodically reviewed and increased in line with inflation. See also note 7 (c).
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(b) During the current year the Trustees continue to invest in COIF Charity Accounts. However, they have not continued to make short term investments with Lloyds Bank where the minimum investment, albeit for a defined short period of time, would leave insufficient funds to meet any major unexpected cost.
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(c) The Trustees believe that the investment accounts are well managed.
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Permanent Endowments.
There have been no changes during the current year
6. Trustees.
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(a) The Trustees are all appointed in accordance with the Governing Trust Instruments.
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(b) Vesting ofAssets. The properties known as New Lodge, Little Lodge and Blackwell Cottage remain vested as heretofore. The Chairman and the Treasurer hold the Investment Funds.
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(c) The Trustees have met formally throughout the year. The general maintenance ofthe properties is constantly under review and an ongoing plan of maintenance / repair is in place.
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(d) The Accounts, drawn up by our Independent Examiner, for the year to 31 July 2025 are included with this report.
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(ec) The Trustees had received Safeguarding Training this year, and the fee was £554.00. They have all received enhanced DBS checks for which the charity has paid £112.92.
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- Activities
This year we have receiveda full year’s rent on all our properties which has enabled the Trustees to continue to maintain reserves whilst at the same time to support a pro-active programme of repairs and improvements: a significant refurbishment of Flat 3, New Lodge was undertaken, including a new heating system.
(a) New Lodge - Flatl The flat this year has had only minor maintenance issues which were covered by our monthly small maintenance budget. There is a budget of £500 carried forward for a replacement radiator in the shower room
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- Flat2
The flat has required only minor maintenance which was covered by our monthly small maintenance budget with a budget of £5000 carried forward for kitchen refurbishment. Flat 3
- Refurbishment of Flat 3 continued with £3390 and £252 spent on replacement of storage heaters; £408 was spent on new bathroom flooring; a replacement hot water tank was installed for £915. Replacement carpets were carried forward at a budget of £8000 to included sound proofing. - Blackwell Cottage
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Small electrical repairs continue to be covered by our small expenditure budget; £400 was spent on repairing and painting the porch. A budget of £1,000 is carried forward for wet flooring in the bathroom. The cottage will be redecorated during in the year 25/26. Little Lodge
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The garden at Little Lodge has been maintained within the small expenditure budget. £570 was spent as half share of the cost to pollard a lime tree on the shared border with Pintails, whose new owners bore the other half of the cost. Other costs were small and within our small expenditure budget.
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(b) Managing Agents The Trustees have continued to contract the responsibility of Property Management to a local company, Bennett Jones Partnership of Dursley. This has proved to be particularly successful and necessary repairs are being carried out with the minimum of delay. The Trustees continue to maintain the principle of requiring the managing agents to use local trades people where practicable. Their monthly fee remains at £300. The existing Tenancy Agreement at Blackwell Cottage had to be terminated and re-signed to fulfil the legal requirements regarding the change of charitable status to CIO. Bennett Jones’ fee was £240.
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(c) Rent Review The Trustees strive to ensure that rents set for the Charity’s properties reflect the Objects of the Charity. It was decided this year to increase rents in August by 2% plus CPI and these increases have been accepted by all tenants.
(d) Charitable Incbrporated Organisation
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To facilitate management of the Charity for the future, the process of establishing a Charitable Incorporated Organisation (CIO) continues. The CIO will take over the activities, assets, and liabilities of the existing Charity. The change to CIO remained uncompleted at the 31“ July 2025 but was completed in September 2025. The Charity was charged £2470.66 in fees this year by Willans solicitors.
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(ec) General Data Protection Regulation During the year the new approach to handling personal data has come into force under the title of General Data Protection Regulation. Whilst a minimal amount of personal data is stored electronically the Trust does retain data in paper files. During the coming year it is intended to update the policy on GDPR, introduce a new privacy statement and involve tenants in the information that is retained.
(f) Deposit Protection Scheme ; At the commencement of a new tenancy the tenant pays a deposit, against possible breakages or damage to the property, determined by the monthly rental. The Trustees place these funds in the nationally approved Deposit Protection Service where they are protected and outside the current account and investment funds held by the Trust. Currently, £3,011 is held on deposit received from the tenants.
- 8 Risk Review.
. The Trustees frequently review the possible risks to which the charity is exposed and believe that these are covered by relevant procedures and cash reserves.
9 Reserves and financial management
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The HCC have established the following financial reserves policy:
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e To maintain a reserve calculated as 70% of the average annual expenditure over the previous three years (not including major costs of rebuilding and roofing, or mortgage commitments) to meet the challenge of a disrupted income supply
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e To maintain a reserve calculated as 100% of the required annual expenditure on mortgage commitments in the event of a disrupted income supply
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e To maintain a sum not less than £5,000 to meet support for tenants unable to remain in one of the Charity properties due to fire, flood, major repairs etc. The Trustees calculate that £22,000 is currently needed to meet this policy and there are sufficient funds within HCC to support this figure.
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As part oftheir financial management, HCC have undertaken to
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e Include in their annual budget a provision for unplanned expenditure equal to 25% of the figure budgeted specifically for repairs.
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e Ensure the proper level of insurance is held to mitigate the effect of loss of rent, damage to property and Trustee liability.
| Sandra Lampard Honorary Treasurer Highlandswi iA Roger Bush ve 6A Novem bey | Chairman | Highlands Cottage Charity Date 2025
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independent examiner's report to the Trustees of Highlands Cottage Charity
| report on the accounts of Highlands Cottage Charity (The Trust) for the year ended 31 July 2025, which are set out on pages6 to 9.
Responsibilities and basis of the report
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
| report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
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| have completed my examination. | confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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- accounting records were not kept in respect of the Trust 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.
| 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.
a Penny Loe 24 September 2025 PS Loe & Co
Chartered Accountant Edgecombe, Amberley, Stroud
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HIGHLANDS COTTAGE CHARITY
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STATEMENT OF FINANCIAL ACTIVITIES: YEAR ENDED 31ST JULY 2025
| Note | Unrestricted | Designated | Total Funds | Total Funds | ||
|---|---|---|---|---|---|---|
| Funds | Funds | 2025 | 2024 | |||
| £ | £ | £ | £ | |||
| Income | ||||||
| Rents and licence fees | 46,620 | - | 46,620 | 44,832 | , | |
| Other income - compensation | - | - | - | |||
| Bank and other interest | 1,083 | - | 1,083 | 1,147 | ||
| Total Income | 47,703 | - | 47,703 | 45,979 | ||
| Expenditure | 2 | 24,689 | - | 24,689 | 29,990 | |
| Net Income/(Expenditure) | 23,015 | - | 23,015 | 15,989 | ||
| forthe year | ||||||
| Balances broughtforward at | ||||||
| 1 August2024 | 264,962 | 5,465 | 270,427 | 254,438 | ||
| Transfer between funds | - | - | - | - | ||
| Balances carried forward | ||||||
| at31July2025 | 287,977 | 5,465 | 293,442 | 270,427 |
The notes on pages 8 and 9 form part of these accounts.
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HIGHLANDS COTTAGE CHARITY
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BALANCE SHEET AT 31ST JULY 2025
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|Note|2025|2024|
|£|£|£|£|
|Fixed|Assets|
|Freehold|property|
|New|Lodge|and|Little|Lodge,|at|cost|413,882|413,882|
|413,882|413,882|
|Blackwell|Cottage|72,914|72,914|
|486,796|486,796|
|Tangible|fixed|assets|-|Furnishings|and|equipment|
|Cost|b/f|1|10,094|10,094|
|:|additions|-|-|
|10,094|10,094|
|Depreciation|b/f|9,485|9,282|
|:|charge|for year|152|203|
|9,637|9,485|
|457|609|
|487,253|487,405|
|Current|Assets|
|Debtors|and|prepayments|3|-|-|
|COIF|Charities|Deposit|Fund|24,285|23,201|
|Lloyds|account|48,475|30,313|
|72,760|53,514|
|Liabilities|
|Amounts|falling|due|within|one|year|4|4,793|4,207|
|4,793|4,207|
|Net|Current|Assets|67,966|49,307|
|Net Assets|555,219|536,712|
|Long|term|liabilities|5|58,689|63,197|
|496,530|473,515|
|Funds|8,9|
|Endowment|203,088|203,088|
|Designated|5,465|5,465|
|Unrestricted|287,977|264,962|
|496,530|473,515|
|Approved|by the Trustees the Trustees Trustees|on|6|November 2025 2025|and|signed|on|its|behalf by by|
|Roger Bush, Chairman|‘|||
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Approved by the Trustees the Trustees Trustees on 6 November 2025 2025 and signed on its behalf by by
- The notes on pages 8 and 9 form part of these accounts.
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HIGHLANDS COTTAGE CHARITY
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2025
1. Accounting Policies
a) These financial statements have been prepared under the historical cost convention and in accordnce with applicable Accounting Standards, The Charities Act 2011 and the Charities SORP (FRS102)
b) The accruals basis of accounting is used for income and expenditure. c) Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
d) Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives to the scheme. Since 1996, furniture and equipment has been depreciated at 25% pa on the reducing balance method; prior to 1996 such expenditure was written off in the year of purchase. No depreciation is provided on freehold buildings because in the Trustees opinion the real (inflation adjusted) estimated residual value is not less than the carrying value in the accounts.
2. Expenditure
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| 2. | Expenditure | |||
|---|---|---|---|---|
| Property insurance | 2025 2,313 |
2024 2,170 |
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| Property surveyorand agent | 3,840 | 3,600 | ||
| Repairsand maintenance | 9,259 | 13,193 | ||
| Utility billswhen propertyvacant | - | 6 | ||
| Legal fees general | 2,571 | 4,429 | ||
| Trustee Indemnity insurance | 639 | 621 | ||
| Mortgage interest | 4,715 | 5,372 | ||
| Sundries Independent Examiner's fee Depreciation offurnishings, equipment |
817 384 152 |
37 360 203 |
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| 24,689 | 29,990 | |||
| 3. | Debtors | |||
| 2025 | 2024 | |||
| Trade debtors | - | - | ||
| 4. | Liabilities: Amounts falling duewithin oneyear | |||
| Creditors | 2025 - |
2024 - |
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| Accruals | 384 | 360 | ||
| Repayment due on mortgage - see note 5 | 4,409 | 3,847 | ||
| : | 4,793 | 4,207 |
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HIGHLANDS COTTAGE CHARITY
5. Long term liabilities
A 25 year mortgage of £155,000 was obtained from Lloyds Bank in order to fund the development of the Old Cart Shed, in the grounds of New Lodge, completed in February 2011 and now, as Little Lodge, let out as residential accommodation. The mortgage is secured on another property owned by the charity, Blackwell Cottage
6. Employees’ remuneration
There were no employees during the year
7. Trustees’ remuneration and expenses
No trustee received any remuneration or reimbursement of expenses during the year. The trustees were advised that the charity should take out trustee indemnity insurance; this cost £639 (2024: £621)
8. Designated and restricted Funds
| Designated and restricted Funds | ||||
|---|---|---|---|---|
| Balance | Movement in Resources | Balance | ||
| 1.8.24 | Incoming | Qutgoing | 31.7.25 | |
| Designated Funds | ||||
| Contingency Fund | 5,000 | - | - | 5,000 |
| AE Pash Charitable Trust donation | 465 | - | 465 | |
| 5,465 | - | - | 5,465 |
There are no restricted funds held by the Charity.
The Contingency Fund reflects the Trustees’ policy of retaining £5,000 to meet support for tenants unable to remain in one of the properties due to fire, flood, major repairs etc.
The Trustees propose to use the donation from the AE Pash Charitable Trust, received on the winding up of that Trust, for a specified purpose, to be determined.
9. Analysis of net assets between funds as at 31 July 2025
| Fixed | Net | Current | Long term | Total | Total | ||
|---|---|---|---|---|---|---|---|
| Assets | Assets | liabilities | 2025 | 2024 | |||
| Endowment | Fund | 203,088 | - | - | 203,088 | 203,088 | |
| Designated | Funds | - | 5,465 | - | 5,465 | 5,465 | |
| Unrestricted | Funds | 284,165 | 62,501 | (58,689) | 287,977 | 264,962 | |
| 487,253 | 67,966 | (58,689) | 496,530 | 473,515 |
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