WRAXALL CHARITIES CIO REPORT YEAR ENDED 31 DECEMBER 2024 Reference and Administrative Details Charity Number 1193583 Public Addres8 Wraxall Charities CIO, The Cross Tree Centre, Bristol Road, Wraxall. Bristol, 8S48 1 LB Trustees Mrs A Lock Rev M Andrews Cllr l Malpas. Mr M Law. Mrs L Vowles Chaimian until resignation 28 November 2024 Cllr D Robinson" Treasurer 'Nominative Trustee appointed by Wraxall & Failand Parish Council Ex-officio Trustee, Rector of the parish of Wraxall with Failand Treasurer Cllr D Robinson Independent Examin•r Mr S Wright, 27 The Uplands, Nailsea BS48 4RS Bankers Lk>yds Bank plc, 16 The Triangle. Clevedon BS216NG Wards Solicitors, 1-3 Alexandra Road, Clevedon BS217QF , Narrow Quay House, Narrow Quay Bristol BS14QA David James & Partners, Barley Wood Stables, Long Lane. Wrington, North Somerset BS40 5SA (Land Agent) Group West Ltd, 141 Whiteladies Road, Clifton, Bristol BS8 2QB (Advice on Option Agreement) Solicitors Surveyors Page 1
Report of the Trustees for year ending 31•t December 2024 The trustees present their Annual Report of the charty for the year ending 31 s¢ December 2024. The Financial Statements have been prepared in accordan with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordan with the Financial Reporting Standard (FRS102) published in 2015. Prior to 7 November 2024 Wraxall Charities CIO had no funds or assets. The Charity Commission has rnerged the unincorporated charities (Marchioness of Northampton, Thomas Kington and Abraham Elton, collectively known as Wraxall Parochial Charrties) wrth Wraxall Charrties CIO with a transfer date of 7 November 2024. The unincorporated charities have now been removed from the Register of Charities and are shown by the Charty Commission as having funds and assets transferred to Wraxall Charities CIO. Structure, Governance and Management Wraxall Charities CIO is a registered chanty wrth a constrtution and VRS approved by the Charty Commission on 18 February 2021. The charity d$ not actNely fundraise and seeks to continue the charitable work of the former unincorporated charities. There are currently fve trustees: two nominalive trUStS appointed by the Parish Council of Wraxall and Failand, two C(H)Ptative trustees and an ex-officio trustee, the Rector of the parish of Wraxall with Failand. There are currently vacancies to be filled by a nominative and co-optative trustee. Land assets comprise: Nailsea Lar The Nailsea Land is subject to an Option Agr&ment with Vistry, a developer and formerly Linden Limited. lD have an option agreement for an easement for pylons and underground cables (together with data cables from Surf Telecoms) across the land. Vistry has rentlY submitted a planning application for development. Wraxall Land One part of the Wraxall Land has recently been re-let under a new twelve month agricultural tenancy. The other part of the Wraxall land is let as a car park to Baker Hughes Transfer Deeds for the land assets of the former unincorporated charrties have been completed and are wrth the charities solicitors who are attending to the fomialrties necessary to register them at HM Land Registry. All cash and investments from the fomier unincorporated charities were transferred into accounts held by Wraxall Chariiies CIO in November 2024. Page 2
Objectives and Actlvitles for the Publle Benefft The objects of the charity are for the prevents'on or lf of poverty amongst those living in the ecclesiastical or administrative parish of Wraxall through making grants to appropriate institutions, organisations and indFviduals. The trustees have had regard to the guidan issued by the Charity Commission on public benefft. Achi•vom•nts and Perfornian No discretionary payments were made and no Tesco Grft Cards were issued to households in financial hardship for essential items durit¥J this period. Financial R•vi•w The charity's financial position on 31st Dember 2024 is healthy. The income is derived from monies received from investments, waYave payments and the rent from three areas of land, which are let to tenants. The CCLA Charities Deposit account provides a better rate of interest than the bank savings account The Trustees have considered the need for a Reserves Policy and concluded there is no need to hold reserves or develop a Reserves Policy. The on-going costs of the charity can be easily met out of present funds. The charty holds zero reserves. Declaration The Trustees declare that they have approved the Trustees, Report above. Signed on behalf of the charity's Ttea$. 2s.*. A Lock, Chairnian of Trustees Date Page 3
Wraxall Charities CIO, Charity number= 1193583 Receipts and Payments Accounts for year ending 31st December 2024 Receipts and Payments from date of transfer to Wraxall Charities CIO 7 November 2024 to 31 December 2024 Unrestrlrted Endowment funds funds 2024 Totsl funds Notes RECEIPTS Rents Investment income Bank interest CCLA deposit interest Complaint compensation TOTAL RECEIPTS 4.355 26 305 4,335 26 305 4.766 4.766 PAYMENTS Discretionary payments Insurance Governance 349 130 349 130 TOTAL PAYMENTS 479 479 NET RECEIPTS 4.287 4.287 Assets transferred from Wraxall Parochial Charities I.618 1,213,204 1,313.822 Gain Ilossl on revaluation of investments ioi 7.582 7.481 FUNDS LAST YEAR END FUNDS THIS YEAR END 105,(M)6 1,220,685 1.325,691 The notes on page5 6 and 7 form part of these account Page 4
Wraxall Charities CIO, Charity number: 1193583410 Statement of Assets and Liabilities for year ending 31•t December 2024 Unrestricted Endowment fvnds funds 2024 Total funds Notes Fixed assets Land held for investment At l January 2024 Transferred from Wraxall Parochial Charities At 31 December 2024 600,CM)O 6IXI.000 600.000 600.000 Investment funds At l January 2024 Transferred from Wraxall Parochial Charities Gain (loss) on revaluation At 31 December 2024 8,256 613,204 621,460 ioi 8.357 7.481 620.685 7,582 629,042 Total Fixed assets 8.357 1.220.685 1,229.042 Current assets Cash at bank Cash at CCLA Other monetary a55ets Debtors 8.222 87,252 275 900 96.649 8,222 87,252 275 900 96,649 io li Le5s.' current liabilities: creditors Net current assets 96.649 96,649 Total assets 105.006 1.220.685 1,325,691 Approved and Signed on behalf of the charity's Trustees: A Lock, Chairnian of Trustees Date The notes on pages 6 and 7 forni part of these accounts Page 5
Wraxall Charities CIO, Charity number: 1193583 Notes to the Accounts for year ending 31•t December 2024 Rents and Wayleave Rent payments are made in the firsi part of the financial year. sin the transfer of assets on 7 November 2024 no rents have been received. Investment income PrOedS from the sale of land and options agreements in previous years have been invested in the CCLA Charities Official Investrnent Fund (COIF). 30,997.55 units were held on 31st December 2024. The forecast Gross dividend yield was 2.740/0 (Sep 24). One dividend payment from the CCLA COIF fund has been received in the period after transfer of assets. Complaint compensation In recognition of the difficulties Trustees experienced in estsblishing the Treasurer's account for the charty, Lloyds Bank have credtted the account with £80 in response to a complaint that was uphekl. Discretlonary payments There were no discretionary payments during the period. Insurance Insuran cover includes Public Liabilty £5M, Employers Liability £10M and Trustees Indemnrty Insuran. Governanco Land Registry charges and associated postal expenses relating to the application to HM Land Registry for a thin strip of land nexi to the fenS of the adjacent houses of the Nailsea land be registered with possessory title following the long period of adverse possession by the tenant and his father before him. Assets transferred from Wraxall Parochial Charities Unrestricted Endowment Funds Funds Total Funds Cash at bank Cash at CCLA Tesco Gift Cards Debtors Total current assets 8.596 82.591 275 900 92,362 8,596 82,591 275 900 92.362 Lad and investments 8,256 1,213.204 1221,460 Totsl assets on transfer 100,618 1,213,204 1,313,822 Page 6
Investment Assets - Funds The total value of investments held in the CCLA COIF fund on 31 Dernber 2024 was £629,042. The gain during the period after transfer of assets was £7,582. Investment Assets - Land Wrth the transfer of assets to the CIO, David James & Partners have issued reports re-valuing the land based on its potential for development. The Nailsea land is valued at £400,000 and the Wraxall land is valued at £200,000. 10. Other Monetary Assets Other monetary assets are store gfft cards held for distributing when needed. Gift cards to the value of £275 remain at the end of 2024. Debtorn At transfer of assets there were rent arrears on the Wraxall Land of £900. In January 2025 DavKI James & Partners, our Land Agent, advised that they held deposit for rent of £313.28; this has now been reived. leaving an outstanding debt of £586.72. Our Independent Examiner has recommended that the outstanding debt be written off, which will be done in 2025. Page 7
Wraxall Charities CIO, Charity number: 1193583 Independent examinerfs report to the trustees of Wraxall Charities CIO I report to the trust&s on my examination of the accounts of Wraxall Charities CIO for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of Wraxall Charities CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act,). I report in respect of my examination of Wraxall Charities CIO'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 ststement I have completed my examination. I confim 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 Wraxall Charities CIO as required by section 130 of the Act; or 2. the accounts do not accord wrth those records. I have no cOnmS 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. Signed: Name.. Stewa Wright Retired Fellow of the Institute of Charted Accountants in England & Wales Address: 27 The Uplands, Nailsea BS48 4RS Date: ZS-. kf 'L 202 Page 8