2020-12-31-accounts

COLYTON CHAMBER OF FEOFFEES CIO (Registered charity 1169081)

TRUSTEES REPORT FOR THE PERIOD 1[st] APRIL 2019 TO 31 DECEMBER

OBJECTIVES AND ACTIVITIES

The purposes of the Feoffees are to carry out such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the Trustees may from time to time determine, within the geographical area of the civil Parish of Colyton. The Feoffees original charter of 1546 placed responsibility upon the Feoffees to carry out “Good, Godly and Commendable Purposes and in Deeds of Charity”. These purposes include: the relief of those in need by reason of financial hardship or other disadvantage; the advancement of education; the advancement of citizenship and community development; the advancement of the heritage of the Parish; the advancement of amateur sport; supporting associations which enable serving and former members of the armed forces to mix together; and other charitable purposes such as securing the provision of recreation facilities, the provision of public works and services and amenities, the beautification of the Parish, and the promotion of industry, commerce, agriculture and horticulture. These may be fulfilled by grants or loans of money, payments for goods and services, and by securing the provision of facilities.

The Charity is a charitable incorporated organisation (CIO) registered with the Charity Commission on 8 September 2016 with the purpose of taking over all of the assets and liabilities of The Parish Lands Charity (No. 243224). The transfer took place with effect from 29 March 2019. Buildings with an insurance valuation of £2.773m; agricultural land with a value of £0.132m; and financial assets of £0.525m were transferred to the CIO. No liabilities were transferred. Receipts and Payments of the Parish Lands Charity up to the period ending 31[st] March 2019 were included in the accounts of that charity. With the removal of the Parish Lands Charity from the Charity Commission’s Register of Charities on 16 May 2019 and its merger with the Chamber of Feoffees CIO, all receipts and payments since 1[st] April 2019 have been included in the Colyton Chamber of Feoffees CIO Accounts.

The trustees confirm that the Charity has complied with its duty to have regard to the guidance on public benefit published by the Charity Commission.

ACHIEVEMENTS AND PERFORMANCE

The CIO’s portfolio of land and buildings provides a rental and hire income accounting for nearly 75% of its gross income before investment transfers (£34,605 out of total income of £46,626 for this period). The remainder of the CIO’s income arises mainly from income from investments. Because of the significance of rental and hire income, there is a need periodically to renovate, maintain, repair and update the buildings and in this accounting period one-off expenditure on these items amounted to £50,820. Other expenditure amounted to £22,194, comprising Insurance, £4,563; premises day to day running costs, £10,962; professional and administration fees, £3,967; charitable donations, £2265; and miscellaneous, £437.

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COLYTON CHAMBER OF FEOFFEES CIO (Registered charity 1169081)

TRUSTEES REPORT FOR THE PERIOD 1[st] APRIL 2019 TO 31 DECEMBER

FINANCIAL POLICIES

INVESTMENT

Funds not required in the short-term to meet ongoing expenditure are held on deposit with CCLA Investment Managers Ltd., either in COIF Income Units, COIF Property Income Units or in a CCLA Deposit Account. Other funds for day to day expenditure are held in the Lloyds Bank Current Account. The aim of the investments is at least to maintain the value of the capital invested and to provide a reasonable income. In the 9 months to 31[st] December both of these criteria were met.

RISK MANAGEMENT

The Charity has performed a Risk Management Review to identify the risks associated with its activities, and systems and procedures are in place to manage the risks and adequate insurance is maintained.

RESERVES

The Charity holds sufficient funds to ensure that it can maintain its charitable activities even if there is a major loss of income from the property portfolio and/or its financial investments. It also maintains sufficient funds to be able to assist local organisations by way of loans and grants should these be necessary.

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LEGAL STRUCTURE

The Charity is a Charitable Incorporated Organisation managed by not less than seven nor more than sixteen charity trustees; at present there are sixteen trustees. The Trustees meet every month during year. At present the Charity has a Property Sub-Committee, a Town Hall Sub-Committee and a Finance Committee, each chaired by a Trustee. The Bailiff, Miss Sarah Charman, is responsible for the day to day administration of the Charity’s affairs.

New trustees are recruited from within the area of benefit, generally because they would have a skill or expertise to help with the management and decision making in an area of work of importance to the CIO (e.g. property and building matters; legal and finance; charity administration). Names of possible candidates are put forward to the whole Trustee body for consideration and a decision

REFERENCE AND ADMINISTRATIVE

INFORMATION TRUSTEES

Trustees who served during the period were:

Tony Hibberd – Chairman James Carthy (resigned 20th May 2019) Jonathan Sweetland (appointed 3[rd] December 2019) Colin Chesterton Andrew Parr John Mills Geoff Clode Dr. Mick Askew Robert Collier Julian Hurford Bernard Love Jeremy Mears Colin Pady Phil Richards Verdun Trott Rodney Turner Tony Underdown

Investment Bankers Bankers Solicitors CCLA Investment Management, Lloyds Bank PLC, Bevis And Beckingsale Senator House, Blackheath London Branch, 1, Major Terrace, 85, Queen Victoria Street PO BOX 1000, SEATON LONDON EC4V 4ET BX1 1LT Devon EX12 2RF

Independent Examiner

Approved by the Trustees on …………………………… and signed on behalf of the Charity by:

……………………………………………………………. Colin Chesterton (Chairman)

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF COLYTON CHAMBER OF FEOFFEES

I report to the trustees on my examination of the accounts of The Colyton Chamber of Feoffees for the period ended 31 December 2019.

This report is made solely to the charity's trustees, as a body, in accordance with Section 154 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the charity's trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.

Responsibilites and basis of 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’).

I 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 I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. 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.

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.

Name & Address

Date

COLYTON CHAMBER OF FEOFFEES

BALANCE SHEET AS AT 31 DECEMBER 2020

0
DEC 2019	DEC
	2020

PROPERTY

Town Hall Town Hall Cottage Coombe Cottage St John Building The Folletts Spragues Field Ridgeway Field Ridgeway Garden Plot Slade

CURRENT ASSETS Lloyds Bank Account COIF Investment Fund COIF Property Fund COIF Deposit Account Outstanding Loans CURRENT LIABILTIES NET ASSETS REPRESENTED BY: Balance at 31 December 2019 Changes in Valuation of Investments Excess of Income over Expenditure	26027 480168 9682 9988 26500 552365 0 552365 525476 23277 3612 552365	36221 536442 9170 9988 29100 620921 0 620921 552365 55762 12794 620921

COLYTON CHAMBER OF FEOFFEES

INCOME & EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31DECEMBER 2020

INCOME Town Hall Hire Property Rental Investment Interest The Folletts Sale of Feoffees Books Investment Transfers Ref Charges EDDC Grant Banquet 60+ EXPENDITURE Caretakers Wages Donations Town Hall Capital Town Hall Maintenance Town Hall Services Coombe Cottage Other Property Costs Licences & Adverts Professional & Admin Insurance Sundries Investment Transfers Banquet & 60+ SURPLUS/(DEFICIT) FOR THE YEAR	NOTES 1 2 3 4 5 6 7 8 9 10 11 12	6139 16633 12003 11833 11 30000 7 - - 76626 6884 2265 43339 3672 2801 3809 1277 406 3561 4563 70 - 367 73014 3612 2019 DEC	2523 21453 15158 15000 - - - 22668 40 76842 9142 2393 2783 2446 5499 - 181 380 11013 4747 464 25000 - 64048 12794 2020 DEC

COLYTON CHAMBER OF FEOFFEES

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 **2 **	PROPERTY RENTAL Town Hall Cottage Coombe Cottage Other Rental Ridgeway INVESMENT INTEREST COIF Investment Fund COIF Property Fund COIF Deposit Account	INCOME SUMMARY		DEC 2019 5475 5449 5709 - 16633 11569 388 46 12003		DEC 2020 6732 8510 5803 408 21453 14672 460 26 15158

COLYTON CHAMBER OF FEOFFEES

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31DECEMBER 2020

3 **4 **	DONATIONS Promote Colyton Group Hardship Donation COVID Volunteer leaflets Primary School Learning Materials Advent Window Competition Lily Sweetland Colyton Fire Station Christmas Lights Colyton Scouts Colyton Primary School Colyton Library TOWN HALL CAPITAL Catering Equipment Crockery Kitchen Refurbishment Kitchen Fitments Brass Plaque PAYMENTS SUMMARY		DEC 2019 350 - - - - 400 35 700 400 130 250 2265 - 1033 42305 - - 43338		DEC 2020 500 250 165 398 250 - - 700 - 130 - 2393 216 - - 1527 1040 2783

NOTES - CONTINUED

5 6 **7 **	TOWN HALL MAINTENANCE Fire Extinguisher Check Stuart Morgan - Gas Check Kitchen Filter Fire Extinguisher Contract Abbotts - Sundries A & D Supplies - Toiletries Giles Dixon Carpentry Board Room Door Water Heater Repair Boiler Repair/ Sevices Roof Leaks Gents Toilet Amplifier Window Cleaner TOWN HALL SERVICES Electricity Gas Water Wifi COOMBE COTTAGE R W Dack & Sons			DEC 2019 - 127 - 64 289 452 86 - - 779 1779 96 - - 3672 705 1422 366 308 2801 3682 3682		DEC 2020 53 134 297 86 134 691 - 179 54 168 166 153 241 90 2446 1739 1638 1514 608 5499 - -

NOTES - CONTINUED

8 9 10 **11 **	OTHER PROPERTY COSTS Town Hall Cottage - Gas Check Ridgeway Fencing Ridgeway Leat St John's Fire Extinguisher Check LICENCES & ADVERTISING CC of D Annual Subs PRS Licence EDDC - Premises Licence PROFESSIONAL & ADMIN Bailiff Stationery - etc Website Beviss & Beckingsale Ridgeway Disbursement Land Registry - Beviss & Beckingsale Barrett Corp Insurance Assessment Mubu Dev EICR TH cottage SUNDRIES Carnival Advert RBL - Wreath Feofees Leaflets R & H Signs - Banner Christmas Tree Town Crier - subscription Bank correction payment Fire Extinguisher check - Playing Field Pavilion Key cut		DEC 2019 127 238 912 - 1277 50 176 180 406 2000 330 - 550 355 326 - 3561 20 - - - 50 - - - - 70		DEC 2020 130 - - 51 181 50 150 180 380 2000 455 50 3241 80 819 4368 11013 - 50 65 97 40 50 140 17 5 464

NOTES - CONTINUED

BANQUET & 60+ Banquet Income Guests Less Refunds Banquets Expenses Steves Print Candlesticks Flowers Sundries Damon Ralph Caterers Net Banquet Surplus/(Deficit) 60+ Flowers Catering Costs Net Deficit/Surplus on Banquet &	60+	- - - -	- - - - - - - - DEC 2019	3718 (26) 3692 128 16 132 32 3344 3652 40 - - - 40 DEC 2020
			- -

13 BANQUET & 60+

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of QjL1T￿ ok On accounts for the year ended Charity no lif any) Set out on pages I report lo the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended l. I IL I ltta Responsibilities and basis of report As the charity's trustees, you ale responsible for the preparation of the accounls in accordance wth the requirements of the Charities Act 2011 ("Ihe Act"). I 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, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent tThe ch examiner's statement exceeded 000 and ination by ualifie applicable listed bodyll. Delete I l if not applic8ble. qualifie bero name I have completed my examination. I confirm that no material matters have come to my attention in connection wtth the examination (other than that disclosed below ") which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act", or the accounts did not accord with the accounting records., or 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 independenl examination. I have no cOn￿rnS and have come across no other matters in connection with the examin8tion to which attention should be drawn in this report in order to enable a prDper understanding of the accounts to be reached. se delete the words in th& brackets if they do not apply. Signed: Date: OLL Name: Relevant professional qualiflcation(s) or body IER Oct 2018

(if any): Addres5: Section B Disclosure Only complete it the examiner needs lo hignlighi material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018