## **Trustees Report and Accounts** ## **The Mary Dains Charity** **Registered Charity No. 1197401** **Financial year to 31[st] December 2022** ## **Trustees Report** It was in the summer of 2020 that the Charity Commission contacted the Almshouse Association seeking help with two charities in Suffolk where there was only one trustee remaining and who was not in good health. One of those charities was an almshouse one which the Legacy East Almshouse Partnership {LEAP] readily agreed to take on as it already manages other almshouse charities in Essex and Suffolk. Two of the trustees from the LEAP charity expressed willingness to become the trustees of the other charity, also established from the estate of Miss Mary Dains who died in 1913. They, Peter Hill and Diana Hoy, were appointed by the Charity Commission in place of the former trustee on 10[th] March 2021. Appointed with them was Kimberly Ledger a resident of Trimley St Mary who volunteered to be the Administrator to the Charity as well as a trustee. Shortly afterwards, Steve Mountain was co-opted as a trustee. Steve is also a local resident of Trimley St Mary, near Felixstowe in Suffolk. These four people: - Peter Hill - Diana Hoy - Kimberly Ledger - And Steve Mountain have remained trustees throughout this period. ## **MARY DAINS’s MISSION AND HOLIDAY FUND CHARITY (253412)** The Charity which these 4 people agreed to become trustees of was the Mary Dains’s Mission and Holiday Fund Charity. It was clear to these people that the Objects of the charity needed updating and after discussions with the Charity Commission the following wording was agreed: ## **Object of the charity:** (1) The object of the charity is to advance the non-conformist Christian Religion through the provision and maintenance of a Mission Hall. (2) The relief of poverty in the area of benefit by the provision of facilities, grants, items or services to individuals in need or organisations supporting those in need including through the provision of accommodation. This wording was sufficient to allow the chapel building to be used for wider community purposes to give it a practical future as well as for non-conformist religious purposes. ## **CIO and a New Mary Dains Charity** Having revised the Objects of the Charity, the Trustees then applied to the Charity Commission to change the status of the Charity to that of a Charitable Incorporated Organisation (CIO) but with the same Objects of that of the Mary Dains Mission and Holiday Fund Charity. The trustees recognised that being a CIO would given them legal protection from any claims against the Charity as well as give them the powers to run the charity in a proper manner to achieve its Objects. On 10[th] January 2022, the Charity Commission approved the creation of THE MARY DAINS CHARITY with the registered charity number 1197401. ## **Condition of the Properties** In July 2021, the trustees engaged the services of a company to survey both the Manse and the Chapel to establish the deterioration of both properties and the potential costs that would be incurred in bringing both properties back into a useful condition. The subsequent report indicated that at least £100,000 needed to be spent on each of the two properties. This was far in excess of the funds in the Charity. ## **Future Strategy** As a result of the report, and acknowledgement by the trustees that the charity had less than £100,000 in total funds, and having considered various options, they decided the best option was to sell the Manse, use the resulting funds to renovate the Chapel and invest the balance in building two or three almshouse bungalows for the benefit of people from the local area in need of housing on the front part of the site. They felt that Miss Mary Dains would have approved of this strategy. ## **Valuation** In September 2021 the trustees sought a sales valuation from two local agents, were encouraged to hear that the Manse could be worth in excess of £500,000 and were especially impressed by the presentation made by one of them. ## **Legal Title and the Land Registry** We appointed Ben Carver, a partner with solicitor’s Fowlers of Colchester, in December 2021 to act for the Charity. The first part of 2022 was spent trying to find the deeds of the property in preparation for the sale of the Manse. Sadly the former trustee, Frank Cross, was of no help in this matter. In April 2022, Ben Carver prepared a Statutory Declaration and applied to the Land Registry to register the land in the name of the CIO, The Mary Dains Charity. On 1[st] June 2022, the Charity Commission issued an order transferring the assets (and liabilities) from the Mary Dains Mission and Holiday Fund Charity no. 253412 to The Mary Dains Charity no. 1197401. A Transfer of Title was completed later in June to complete the transfer of ownership from the Mary Dains Mission and Holiday Fund Charity to The Mary Dains Charity. In late December 2022, we were advised that the Land Registry had registered the property allowing the trustees to put the property on the market in February 2023. Sadly, by this time, the property market had eased substantially following the actions of the Bank of England to raise interest rates. ## **The Mary Dains Charity (Reg No. 1197401)** ## **Accounts for the year ending 31st December 2022** |**Income**
Dividends
£576.90
Fees
£450.00
Grants
£0.00
Donations
£0.00
**Expenditure**
Gas & Electricity
200.53
Water
1455.47
Gardening
£385.00
Council Tax
£2,736.01
insurance
£1,235.80
**Excess Expenditure over Income**:
Cash Assets
Barclays Bank Brought Fwd 1Jan2022
Less Excess Exp over Income
Balance =
Barclays Bank C/Fwd at 31Dec2022
Less Creditor
Balance =|£1,026.90
£6,012.81| |---|---| ||**-£4,985.91**| ||£22,244.39
-£4,985.91| ||**£17,258.48**| ||£ 18,421.57
£1,163.09| ||**£ 17,258.48**| Investments at 31[st] December 2022 Value COIF Charities Investment Fund – Alc 26344001T - Income Units (1,063 units) = £19,292.71 - A/c 263440001R – Recoupment A/c (83.20 units) = £18,336.26 - A/c 263440002R – ERF (94.52 Units) = £20,831.05 Blackrock Charities UK bond Fund Accumulation A/c No. 00004237 (Units 97.363) = £4,250.07 **Total Value Investments at 31[st] December 2022 = £62,710.09** ========== Signed: _______________________________________________ Peter Hill, Chairman, The Mary Dains Charity Date________6th_October 2023____________________ CHARITY COMMISSION FOR ENGLAND ANO WAIES Charity Name: The Mary Dains ChaTty 1197401 Recei tsand ments accounts CC16a For the period from 0110112022 To 3111212022 Section A Receipts and payments Unrestricted funds Restricted funds Endowment funds Total funds L4$t year tr• Ih•n••iMI£ io thEneaie•t£ toth¢ n￿l•￿t£ to thèneares1£ A1 R•¢el ts Dwidend3 F••s ross Income or ARJ 1027 1.027 Ss an See tab￿ . Inves men 1,027 A3Pa ments Ga5 8 El•¢tii¢ Water Gard•nino Council Tax Insuranc• 201 201 1,45$ 38S 2,736 1.238 2,736 1236 Sub tolal 61113 6,013 A4 Asset and investment Sub total 6.013 6,013 Net of receipts/(paymentsJ A5 Transfers behveen funds A6 Cash funds last year end Cash funds year end 4,986 4,986 CCXX R1 acwjrts ISSI 21fi)2Q024 Section B Statement of assets and liabilities at the end of the period unreStr￿ted funds to r*areM£ Restricted fiJnd4 tonear¥$i£ Endowment fiJnd$ to nearest£ Categorles B1 Ca$hfvnds 1725B Total cash funds 17.258 rmxrtlsll Unrestricted funds to nearest£ Rèstricted funds to th•¥r*$t£ Endowment funds Details to NEare¥l t Fund t¢wbi¢h a8••t Current value loption411 Oetsl Co•ll*Jpkn•ll B3 Inv•stsnenl assets Futhd towhich 4¥4rf belo Currènt v•lue Detai15 ¢QF. Ch•ths IrM51mentFund QSilop¥on•ll 84 As$ets retained for th charty's own use fj8A60 Bknkrc*k¢h•rfy Bond Fund 4,?50 Fund lowhich An¥Juntdue When duÈ Details B6 Liabilitie$ Signed by one ¢x tFU5teesc hawof all the trustee8 Signature Print Name Date ol rov81 21.Fe￿24 Peter Mortln Hlll lfjmbety Ledger 21-Feb44 CCU R2 xcounts ISSI 21h￿r20￿4