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2025-04-05-accounts

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 06 APRIL 2024 To 05 APRIL 2025

Section A Reference and administration details

Charity name THE TURNEY TRUST Other names charity is known by Registered charity number (if any) 1097415 Charity's principal address TEES JOHN STREET ROYSTON HERTFORDSHIRE Postcode SG8 9BG

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Trustee name Office (if any) Dates acted if not for whole
**year **
Name of person (or body) entitled
to appoint trustee (ifany)
PAMELA
ELIZABETH
ROSINA PARKER
ROBERT
GEORGE
CHAMBERS
JEREMY
WHITTON-
SPRIGGS
6 April 2024 – 7
February 2025
LETITIA PAMELA
CAMPBELL
GLAISTER
6 April 2024 – 15 June
2024

April 2009

TAR

1

20

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
SOLICITOR Natalie Lisa Ruth
Liversidge
TEES EAST BARN HYDE HALL FARM BUNTINGFORD
SG9 0RU

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

WILL TRUST

How the charity is constituted TRUST (eg. trust, association, company)

Trustee selection methods

APPOINTED BY TRUSTEE GROUP (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

The Charity was set up by the Will of the late John Morris Turney who died on 23[rd] June 2002.

The balance of his residuary Estate was held with a view to the acquisition of properties for the provision of accommodation for needy persons. Priority was to be given to individuals who had been resident in the Parishes of either Reed or Therfield for a minimum of four years and with preference to ex employees of the late John Morris Turney.

To acquire dwellings and improve and maintain them.

To construct dwellings and maintain them.

To appoint income and 25% of the Capital for the following charities: The Royal Agricultural Benevolent Fund, Letchworth Garden Hospice, The Turney Village Trust, The St John Ambulance (Royston Branch), The Red Cross (Royston Branch).

Section C Objectives and activities

April 2009

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2

See above Summary of the objects of the charity set out in its governing document

Properties acquired and maintained 24 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 25 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 26 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 27 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 28 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 29 Reed End, Therfield, Royston, Hertfordshire SG8 9RL 13 Blacksmiths Lane, Reed, Royston, Hertfordshire SG8 8AX Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

April 2009

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3

Grants made on the basis of actual needs by charity.

You may choose to include further statements, where relevant, about:

Section D Achievements and performance

April 2009

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4

Section D Achievements and performance

Summary of the main achievements of the charity during the year

Refurbishment and upgrade of properties and ongoing rentals

April 2009

TAR

5

Section E Financial review

Brief statement of the Adequate reserves to: charity’s policy on reserves Fund improvement projects possibly develop retained land

Details of any funds materially in deficit

None

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Natalie Lisa Ruth Liversidge Position (eg Secretary, Chair, Solicitor etc) Date 11/05/2026

April 2009

TAR

6

Page
Summary 1
Approval 2
Capital account 3
Income and expenditure account 4 - 5
Investment schedule 6-17

Date of Trust 23 January 2002
Settlor John Morris Turney deceased
Trustees Robert George Chambers
Jeremy Hugh Whitton-Spriggs (Retired 7 February 2025)
Letitia Pamela Campbell Glaister (Retired 17 June 2024)
Pamela Elizabeth Rosina Parker
Beneficiary See details under'income and capital' below
History The trust was created under the terms of the will of John Morris Turney who died
on 23 January 2002.
In accordance with the will the residuary estate was transferred to the trust to
apply income and capital for the provision of accommodation for needy persons,
in particular and in priority those individuals who have been resident in the
parishes of Reed or Therfield for at least 4 years, with preference for Reed
parishioners and any of John Turney's ex-employees.

Page 2025 2024
£ £ £ £
Value of fund brought forward 792,566.27 781,804.82
Add
Profit on sale of investments 6-17 35,494.02 45,371.90
35,494.02 45,371.90
Less
Tees costs re prior year 4,607.40 -
Tees costs re capital 27,600.00 24,600.00
Smith & Williamson - portfolio review fees 10,546.71 10,010.45
LEI renewal fee 72.00
(42,826.11) (34,610.45)
Value of fund carried forward 785,234.18 792,566.27
Made Up
Shares and securities (at historic cost) 981,409.04 942,336.83
13 Blacksmiths Lane, Reed 220,000.00 220,000.00
Loan from income account (416,174.86) (369,770.56)
785,234.18 792,566.27

2025 2024
Property Income
Rent - 24 Reed End 4,851.00
Rent - 25 Reed End 550.00 6,600.00
Rent - 26 Reed End 7,571.00 7,341.75
Rent - 27 Reed End 8,066.60 7,387.50
Rent - 28 Reed End 9,600.00 800.00
Rent - 29 Reed End 7,650.00 6,450.00
Rent - 13 Blacksmiths Lane 11,850.00 10, 950.00
45,287.60 44,380.25
Property Expenses
Property management fees 4,799.32 4,706.71
Insurances 6,719.16 3,238.17
Gas & electricity (628.23) -
Oil 366.97 373.59
Repairs and replacements 12,806.27 29,797.74
EPC and NICEIC certificates 180.00 624.00
Information Commissioner - Data
Protection fee 40.00 40.00
Key cutting 56.00 22.50
Pest control 225.00 -
Land Registry 48.00 -
Gardening 500.00 1,612.00
Professional fees re development site 25,288.57 32,329.38
Council tax 2,599.50 3,464.94
Professional fees re 24 & 25 Reed End 1,552.00 10,320.24
Taylor and Co examiners report 660.00 330.00
Cleaning 55.86 190.00
(55,268.42) (87,049.27)
Investment Income
Dividends received 8,520.24 9,436.34
Unit trust dividends 8,703.46 10, 034.72
Treasury stock interest 956.26 44.42
UK property income 1,942.72 2,476.92
Dividends - overseas companies 5,472.69 4,653.00
UK unit trust interest 3,720.22 2,975.07
Overseas unit trust interest 4,612.59 5,115.43
33,928.18 34,735.90
Interest and Other Income
Payment in lieu of interest 3,039.92
Evelyn interest 181.82 407.26
181.82 3,447.18
Net income for the year 24,129.18 (4,485.94)

Brought forward 146,048.51 195,827.82
Less
Income loaned to capital 46,404.30 45,293.37
(46,404.30) (45,293.37)
Income in hand 123, 773.39 146,048.51

Holding Book Value
Additions
Additions
Disposals
Disposals Profit
Holding
Profit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024
Quantity
Cost
Quantity
Proceeds (Loss)
5 April 2025
5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Default fund
Securities
Abrdn Oeic Ii
Abrdn Europe Ex UK Inc Equity Instl Dis
18,500.00000 14,140.20 18,500.00000 22,403.50 8,263.30 65.45
518.59
89.47
Allianz Technology Trust Plc
Ordinary GBP0.025
6,500 23,303.50 6,500 23,303.50 20,832.50
Alphabet Inc
Capital Stock USD0.001 Cl a
100 13,917.25 13.25
100 13,917.25 11,250.00 13.02
Amazon Common Inc
Common USD0.01
80 13,804.33 80 13,804.33 10,572.80
Astra Zeneca
Ordinary US$0.25
230 6,409.58 40 4,888.37 3,773.66 147.44
190 5,294.87 20,535.20 319.20
BAE Systems
Ordinary GBP0.025
960 1,723.48 177.60
960 1,723.48 14,568.00 119.04

Holding Holding Book Value Additions Additions
Disposals
Disposals
Profit
Holding
Disposals
Profit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024 Quantity Cost
Quantity
Proceeds
(Loss)
5 April 2025
5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Baillie Gifford
Baillie Gifford Strategic Bond B Dis
49,000.00000 43,243.71 142.10
161.70
161.70
161.70
186.20
186.20
343.00
122.50
205.80
156.80
200.90
49,000.00000 43,243.71 37,685.90 147.00
Barclays Plc
Ordinary GBP0.25
6,000 10,668.14 174.00
6,000 10,668.14 15,003.00 330.00
Bh Macro Ltd
Ordinary No Par Value (Gbp)
8,200 21,750.39 8,200 21,750.39 31,283.00
Blackrock Fund Managers Ltd
Continental European Income D Units Inc
13,000.00000 16,793.00 6,500.00000 12, 337.96 31.01
(17.26) 631.69
92.00
19,500.00000 29,113.70 36,595.65 117.39

Holding Book Value
Additions

Additions
Disposals
Disposals Profit
Holding
Profit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024
Quantity
Cost
Quantity
Proceeds (Loss)
5 April 2025
5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Blackrock Fund Managers Ltd
Corporate Bond S Inc
35,000.00000 38,196.87 365.90
410.47
377.34
35,000.00000 38,196.87 34,079.50 390.91
Bny Mellon Fund Managers Limited
Global Income W Net Instl Inc
16,110.00000 24,205.76 16,110.00000 35,021.53 10, 815.77 279.06
446.75
Bny Mellon Global Funds Plc
US Eqty Income Sterling E Inc GBP Hdg
21,000.00000 28,297.50 157.61
194.28
157.53
21,000.00000 28,297.50 32,661.30 175.32
BP plc
Ordinary USD0.25
2,500 11,072.92 142.06
151.25
157.40
2,500 11,072.92 9,267.50 154.40

Holding Book Value
Additions
Additions
Disposals
Disposals Profit
Holding
Profit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024
Quantity
Cost
Quantity
Proceeds (Loss)
5 April 2025
5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Cme Group Inc
Common USD0.01
65 11,130.59 48.31
47.16
50.05
259.94
65 11,130.59 11,320.17 53.06
Compass Group Plc
Ordinary GBP0.1105
405 2,594.54 65.61
405 2,594.54 10,165.50 127.25
Diageo
Ordinary 28 101/108p
380 8,433.83 121.79
380 8,433.83 7,645.60 179.47
First Sentier Invrs (Uk) Fds Ltd
Stewart Invrs Asia P Ldrs Sust B GBP
2,600.00000 21,081.70 174.66 174.66
51.34 2,600.00000 21,307.70 25,336.74 51.34
Fundsmith Lip
Equity I Inc Nav
12,500.00000 21,124.25 4,000.00000 26,277.20 19,517.44 110.11
8,500.00000 14,364.49
49,817.65
99.93

Holding Holding BookValue
Additions
Additions
Disposals
DisposalsProfit
Holding
DisposalsProfit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024
Quantity
Cost
Quantity
Proceeds
(Loss)
5 April 2025
5 April 2D25 5 April 2025 Gross Income
£ £ £ £ £ £ £
Gsk Plc
Ordinary GBP0.3125
440 5,765.36 70.40
66.00
66.00
440 5,765.36 6,237.00 66.00
Guinness Asset Management
Global Equity Inc GBP Z
1,550.00000 46,715.76 1,550.00000 46,715.76 47,517.58 460.51
HSBC Hldgs
Ordinary LISD0.50
1,700 13,818.82 422.09
413.83
128.89
1,700 13, 818.82 12, 920.00 133.08
Icg Enterprise Trust Plc
Ordinary GBP0.10
2,250 17,077.50 202.50
191.25
191.25
2,250 17,077.50 25,785.00 191.25
Ifsl Evenlode Investment Funds Icvc
Ifsl Evenlode Global Income F GBP Dis
30,000.00000 35,960.49 282.78
250.89
250.89
30,000.00000 35,960.49 44,571.00 250.89

Holding Book Value Additions Additions Disposals Disposals Profit Holding Book Value Market Value
6April 2024 6 April 2024 Quantity Cost Quantity Proceeds (Loss) 5 April 2025 5 April2025 5 April 2025 Gross Income
£ £ £ £ £ £
£
Ishares VII Plc
S&P 500 UCITS ETF GBP H Dist
5,100.00000 35,169.97 251.94
5,100.00000 35,169.97 44,474.55
268.26
Ishares VII Plc
US$ Treasury Bond 3-7 year UCITS ETF
6,250.000 28,620.63 49.23 6,250.000 28,420.00 (249.86) 532.50
49.23
JPMorgan Asset Management UK Ltd
US Equity Income C Inc Nav
7,650.00000 16,902.67 211.91
198.90
193.22
7,650.00000 16,902.67 34,272.00
190.77
Jpmorgan Gbl Emerg Mkts Inc Tst Plc
Ordinary GBP0.01
9,200 12,421.50 9,200 12,421.50 11,592.00
Jupiter Unit Trust Managers
Japan Income Z GBP Dis
46,630.00000 51,723.51 10,300.00000 12,352.79 927.70 443.23
10,130.00000 12,330.24 1,093.71 26,200.00000 29,061.89 29,110.82
523.62
Link Fund Solutions Ltd
Trojan S Inc Nav
8,235.89000 18,966.85 8,235.89000 18,966.85 27,632.23
406.77

Holding Holding Book Value
Additions
Additions Disposals Disposals Profit Holding Book Value Market Value
6 April 2024 6 April 2024
Quantity
Cost Quantity Proceeds (Loss) 5 April 2025 5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
London Stock Exchange Group
Ordinary GBP0.06918604
130 10,467.34 103.09
130 10,467.34 14,488.50 53.30
Lyxor Asset Management Lux
US TIPS DR UCITS ETF Mth Hd
390.00000 40,766.43 24.29 24.29
390.00000 40,790.72 42,508.05 366.60
Mercantile Investment Tst Plc(The)
Ordinary GBP0.025
10,000 26,017.90 330.00
150.00
150.00
10,000 26,017.90 21,000.00 150.00
Microsoft Corp
Common USD0.00000625
70 8,062.58 34.98
33.60
38.60
70 8,062.58 19,468.75 37.75
Mlc Gbl Multi Strategy Ucts Fds Plc
Sanlam International Inflt Lkd Igb GBP
40,350.00000 44,187.70 1,529.27 40,350.00000 39,066.87 (6,650.10) 1,529.27
113.66
271.67

Holding Holding Book Value Additions Additions
Disposals
DisposalsProfit
Holding
Additions
Disposals
DisposalsProfit
Holding
Additions
Disposals
DisposalsProfit
Holding
Book Value Market Value Market Value
6 April 2024 6 April 2024 Quantity Cost
Quantity

Proceeds
(Loss)
5 April 2025
5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Montanaro European Smaller Cos
Montenaro Equity Income Fund GBP
14,000.00000 29,270.00 136.02
359.45
244.33
14,000.00000 29,270.00 23,504.60 188.50
National Grid
Ordinary GBP0.12431289
875 4,325.15 255 1,644.75 342.30
1,130 5,969.90 11,684.20 178.99
Nb Private Equity Partners Limited
Class'a'ord Shs
1,725 10,239.94 632.17
1,725 10,239.94 24,322.50 642.05
NPK Holdings Ltd
Ordinary shares
75 75 75.00
Phoenix Group Holdings Plc
Ordinary GBP0.10
1,466 9,782.88 390.69
1,466 9,782.88 7,784.46 390.69

Holding
Book Value
Holding
Book Value
Additions Additions
Disposals
DisposalsProfit
Holding
Book Value
DisposalsProfit
Holding
Book Value
DisposalsProfit
Holding
Book Value
Market Value Market Value
6 April 2024
6 April 2024
Quantity Cost
Quantity
Proceeds
(Loss)
5 April 2025
5 April 2025
5 April 2025 Gross Income
£ £ £ £ £ £ £
Picton Prop Income
Ordinary No Par Value
22,500 16,265.50 208.13
208.13
208.13
22,500 16,265.50 15,727.50 208.13
Polar Capital Funds
Global Convertible Hedged I Inc Nav
4,700.00000 39,332.42 525.46
512.77
526.87
4,700.00000 39,332.42 33,558.00 526.87
Relx Plc
GBP0.1444
600 9,935.34 250.80
600 9,935.34 22,896.00 109.20
Rio Tinto Plc
Ordinary 10p(Registered)
290 9,804.43 590.93
290 9,804.43 12,293.10 389.26
Schroder Unit Trusts
Asian Income L Inc
32,000.00000 30,629.89 12,800.00000 9,811.20 644.10
(107.01) 44,800.00000 40,334.08 32,220.16 479.79

Holding Holding Book Value Additions Additions Disposals Disposals Profit Holding Book Value Market Value
6 April 2024 6 April 2024 Quantity Cost Quantity Proceeds (Loss) 5 April 2025 5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £ £
Segro Plc
Ordinary G13P0.10
343.80
Shell Plc
Ordinary EUR0.07
880 11,696.53 237.07
230.12
237.86
880 11,696.53 21,837.20 244.55
Source Physical Markets
Secured Gold Lkd Nts USD
70.00 12,646.29 70.00 12,646.29 15,765.00
Tate & Lyle
Ordinary GBP0.2916666667
1,285 9,974.86 1,285 7,977.26 (1,997.60) 165.77
Unilever Plc
Ordinary GBP0.031111
280 4,972.45 102.87
103.49
102.56
280 4,972.45 13,143.20 105.70
United Kingdom(Government Of)
4.25% Stk 07/12/2027 GBP100
22,500.00 22,715.10 478.13
22,500.00 22,715.10 22,790.25 478.13

Holding Book Value Additions Additions Disposals Disposals Profit Holding Book Value Market Value
6 April 2024 6 April 2024 Quantity Cost Quantity Proceeds (Loss) 5April 2025 5 April 2025 5 April 2025 Gross Income
£ £ £ £ £ £
£
United Kingdom (Govern ment Of)
4% Bds 22/10/2031 GBP1000
29,000.00 28,336.60 29,000.00 28,336.60 28,768.00
United Kingdom(Government Of)
4.125% Bds 22/07/2029 GBP1000
39,000.00 38,958.80 39,000.00 38,958.80 39,276.90
Vanguard Investment Series
S&p 500 UCITS ETF Inc Nav GBP
660.00000 45,506.57 16.99 133.92
139.22
159.09
16.99
660.00000 45,523.56 50,065.16
159.18
Warehouse Reit Plc
Ordinary GBP0.01
23,950 25,434.90 383.20
383.20
23,950 25,434.90 24,189.50
383.20

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