Trustees’ Annual Report for the period
From 01/01/2024 Period start date To 31/12/2024 Period end date
Charity name: Old Town Trust Charitable Incorporated Organisation
Charity registration number: 1197102
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | THE OBJECTS OF THE CIO ARE: (A) THE RELIEF OF THE INHABITANTS OF WALSHAM-LE-WILLOWS IN NEED BECAUSE OF YOUTH, AGE, ILL-HEALTH, DISABILITY, FINANCIAL HARDSHIP OR OTHER SOCIAL OR ECONOMIC DISADVANTAGE; AND (B) TO SUPPORT SUCH OTHER CHARITABLE PURPOSES FOR THE BENEFIT OF THE INHABITANTS OF WALSHAM-LE- WILLOWS AND ITS SURROUNDING AREA AS THE TRUSTEES MAY IN THEIR ABSOLUTE DISCRETION DETERMINE. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The Trust makes available to community organisations land for the purposes of recreation and the provision of green spaces to engender greater health and well-being. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | None given in this period |
Additional information (optional)
You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | The Trust has resolved to accumulate a minimum reserve of £60,000 to mitigate its primary risk; the up keep of the Guildhall cottages. The trustees reserve the ability to distribute funds against its objective (A) should a specific need arise. |
| Policy on social investment including program related investment |
Para 1.38 |
Para 1.38 All Trustees are volunteers. Contribution made by volunteers Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | Providing land on long term leases (99 years) for the development of green space namely the Jubilee Wood and the Wildwoods. The Trust also provides the Parish Council with land for the Children’s Play Area in Town House Road. The allotments on Wattisfield Road are also situated on trust land. |
Additional information (optional) You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 | |
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | No fundraising activities are undertaken by the Trust. |
| Investment performance against objectives |
Para 1.41 | Current reserves are held in high interest accounts with immediate access facilities |
| Other |
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The charity maintains a reserve of money for expenses throughout the year. Whilst accumulating its reserve 1.38. |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | For maintaining the 3 Guildhall Cottages and anticipating their required updating to meet new legislation. |
| Amount of reserves held | Para 1.22 | £56821.08 |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Rent payments from three cottages along with agricultural, meadow and community tenants. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | None at present |
| A description of the principal risks facing the charity |
Para 1.46 | Maintenance of three Guildhall cottages. The cottages are grade two listed. The new legislation “Renters' Rights Bill and Leasehold and Freehold Reform Act 2024” requirements, will prove to be very challenging for the Trust to meet. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
To support such other charitable purposes for the benefits of the inhabitants of Walsham Le Willows |
|
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Trust Deed |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | CIO |
| Trustee selection methods | Para 1.25 | All and any trustee vacancies are |
| including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
advertised in the village magazine. Trustees are selected on the basis of: Local people with the knowledge of the Village. An understanding of the requirements of a Trustee. A good understanding of land management requirements. Suitable candidates then apply and Five trustees have to agree to an applicant becoming a trustees. |
|
|---|---|---|
Additional information (optional)
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
|
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | |
| Relationship with any related parties |
Para 1.51 | |
| Other |
Reference and Administrative details
| Charityname | Old Town Trust Charitable Incorporated Organisation |
|---|---|
| Other name the charity uses | |
| Registered charitynumber | 1197102 |
| Charity’s principal address | Harlequin Wattisfield Road Walsham le Willows Bury St Edmunds Suffolk IP31 3BD |
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 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Hugh Reeve | Chair | |||
| Ian Campbell | ||||
| Moira Reeve | ||||
| Karen Rolfe | ||||
| Nick Mecrow | ||||
| Lee Bailey | ||||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
| Trustee name | Dates acted if not for whole year | |
|---|---|---|
| N/A | ||
Funds held as custodian trustees on behalf of others
Description of the assets 3 Guildhall Cottages held in this capacity 3 meadows 4 Green Spaces. Arable land. Name and objects of the Old Town Trust Charitable Incorporated Organisation. charity on whose behalf the Objects as 1.17. assets are held and how this falls within the custodian charity’s objects
Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Ian Wilson Campbell MBE Full name(s) Karen Rolfe Position (eg Secretary, Trustee Trustee Chair, etc) Date 19/07/2025
WALSHAM LE WILLOWS OLD TOWN TRUST - CIO
STATEMENT OF ACCOUNTS
YEAR ENDED FROM 1ST JANUARY 2024 - 31ST DECEMBER 2024
YEAR ENDED FROM 1ST January 2024 - 31ST December 2024
| INCOME COTTAGE RENTS ALLOTMENT & LAND RENTS WAYLEAVE BANK INTEREST EXPENSES INSURANCE LAND MAINTENANCE CLARKE & SIMPSON/LEGAL BANK CHARGES STATIONERY/POSTAGE SURPLUS/(DEFICIT) FOR THE YEAR BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD |
12/31/2024 £ 14,924.24 5,035.30£522.40 contra for Hugh paying the Hedges to be cut - Allotment and Lane 194.42 209.54 £20,363.50 £993.00 £2,862.60CL Construction - Pound - £822.60 Treecreeper - Ash Tree - £2040.00 £2,350.00Greene and Greene - Ian asking for advice - £500.00, Clarke&Simpson - Annual cottages inspection/Land inspections reference selling/valuations - £1850.00 £44.55 £48.00Paper, Printer Cartridges. £6,298.15 £14,065.35 £42,755.73 £56,821.08 |
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|---|---|---|
THE ABOVE STATEMENT OF ACCOUNTS HAVE BEEN PREPARED IN ACCORDANCE WITH THE INFORMATION AND EXPLANATIONS PROVIDED BY THE CLERK. J ROWE