Charity Number 1203246 LANDKEY UNITED CHARITIES TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025
Landkey Unlted Charities Contents Page Legal and administrative information Report of Trustees Independent examiner's report Receipts and payments account ststement of assets and lialmlitles Notes to the financial ststements
Landkey United Charitles Report of the Trustee5 for the year ended 28 February 2025 Charlty number 1203246 Bu5Èness Addre$5 Brook Villa Blakes Hill Rd Landkey Barn5taple EX32 ONE Trustees Mr William Parker Ichairllappointeil by the Parish Council resigned April 20241 Mr Michael Gee I51gned April 20241 Mr5 Karen Tri88er IHon TaSurer) Mr Tom Scourfield Mrs Gemma Williams1Secretsryl Ms Virtoria Nel lappointed by the Parish Council resigned April 20241 Mr Richard Prowse Ichairl (appointed by the Parish Council April 20241 Mr John Hayes (appointed by the Parish Counol April 2024, resigned January 20251 Ms Rebecca Houghton (appointed April 20241 Mr Robert Clarke (appointed September 20241 Independent Examiner Mrs H Mansford FCCA. FCA Stevens and Willey Accountants Grenvblle House 9 Boutport St Bamstaple EX31 ITZ Bankers National Westminster Bank PIC High St Barn5taple EX31 IDA Page I
Landkey Unlted Charities Report of theTrustees for the year ended 28 February 2025 The trustees present their lir5t full year report and the financial statements for the 12 months Ended 28 February 2025. The first report covered the 6 fflonth period to 29 February 2024 Trustees who served during the period and up to the date of the report are set on page l. Strutture. govemance and management Governing Document The charity is a Charitable Incorporated Organisatfion with a Constitution approved by the Charity Commission in May 2023 Appointment and troining of tntstees Trustees are appointed by existing trustees and three by Landkey Parish Council. All trustees are required to complete a fom. All new trustees rece¢ve a copy of the annual report and an update on the charity. OrgGnisotion The charity is administered by its principal Offi"cef5 (Chaiman. Secretsry and Treasurer) acting with the advice and consent of the Board of Trustees and the advice of Various advisory groups. All Offi"eers ale elected annually. The Board ofTrustees meets as necessary but at least 3 times a year in nom31 circumstances. Fund5 Funds held by the Charity are either-. Restricted Fund. being funds that can only be used for particular restricted purp05e% within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Unrestricted Funds. being funds that can be used in accordance with the charitable objects at the discretion ofthe trustees. Wrthin this the Trustees have set up a desi8nated fund for property renovation. Reserves Polity. The Charity has no reserves poliry. Investment Policy The charity's policy has been to keep its long-term fund5 in equitie5. invested in the Income Units olthe Charities Investment Fund. It keeps a tranche of funds, likety to be needed in the shorter term, on deposit. Risk The Charity has appropriate policies in place. Page 2
Landkey United Charities Report of the Trustees for the year ended 28 February 2025 Objects as stated In the Constitution The objects of Landkey United Charities, within its area of Benefit- The Parish of Landkey To lIeVe either generally or individually the inhabitants who are in conditions of need by reason of age, ill health, financial hardship or other social or ecollomic disadvantage and to stre55 through the Provision of grants: and To relieve financial hardship by maintaining and letting cottages to poor person5 of not less than 60 years of age who have resided in the parish for not less than 2 year5 pCedIng time of selectlon at affordable rents according to their means. Achievements and perforniance Trustees have set up this chartty with a more deady defined Constitution. intorporzting good practice a5 recommended by the Charity Commission. Trustee5 have continued to keep the assets In repair. Trustees have embarked on a project to bring cottages 1-3 to an appropriate eneigy ratin8. This is proving to be an extensive projert and likely to continue for a few years Trustees have appointed a new Mana8in8 Agent for the properties during the year. This has proved to be an excellent appointment and benefiaal to the project mentioned ath)ve Trustees have estsblished necessary policies & prL*edure5 which are reviewed annuèlly. Flnanclal Review The Tr¢Jstees report a surplus for the period. Rentsl income is slighdy lowerthan expected as we have a vacant cottage whilst we work through the plans for the future. General expenditure is lower than anticipated. Initial expenditure on the projett is met by a transfer from the Designated Fund. The trustees 3rÈ con5CiQU5 of their duty to distribute grants and have been adverrising to promote this. The trustee5 approve thi5 report and rt is gned on their behalf by.- Mr Richard Prowse IChaiTI Mrs Gemma Wllllams Isecretaryl Trustee Trustee Dated: 16106123 Dated.. iaio6lJs Pa8e 3
Landkey United Charities Independent examinerfs report to the trustees of Landkey Unl1 UritieS I report on the accounts olthe Charity for the year ended 28 February 2025, which are set out on Pages 5 & 6. Respective responslbillties of trustees and examiner The charity's trustee5 are responsible for the preparation of the accounts. The charity'5 trustees consider that an auilit is not required for this period under section 144 of the Charities Act 2011 (the Charities Actl and that an Independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Chartiies Act. to follow the procedures laid down in the general Directions given by the Charity Commission (under section 1451Sllbl of the Charities Artl. to state whether particular matters have come to my attention. Basis of irtdependent examiner's report My examination was carried out in accordance with the general Direcdons given by the Charity Commission. An examination includes a review of the accounting CordS kept by the charity and a comparison of the accounts presented with those records. It a150 include5 consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerning any such matters. The procedvres undertaken do not provide all the evidence that would be required for an audit and consequently no opinion is given as to whether the accounts present a 'true and fair wew. and the report is limited to those matters set in the statement below. Independent ex3miner's statement In connectr.on with my examination. no matter has come to my attention: 11 which gives me reasonzble cause to believe that in any material respect the requirements to keep accounting records in accordan with sertion 130 of the Charities ACL to prepare attounts which accord with the accountin8 needs arbd comply with the accounting requirements of the Charities ACL have not been met.. or 21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mrs H Mansford FCCA, FCA Stevens & Willey Accountants Grenville Htsuse 9 Boutport St Barnstaple Devon Page 4
Landkey United Charities Receipts and Payments Accourt for the year ended 28 February 2025 6 rnonths To 29.02.24 Year to 28.02.25 Receipts 1,838 Charities Official Investment Fund 12,600 Rents 184 Bank Interest 180 Release from Designated Fund 3,721 23,525 373 16,394 14.802 Total receipts 44,013 Payments 1.210 Letting management fee5 3,695 Property repairs & maintenance O Insurance 1,670 Grants to Parish Residents & Organisations 330 Examiner's Fee O Le8al Fees 180 Maintènance Projert for cottages 1-3 3,038 3,210 1.165 348 95 16394 7,085 Totsl payments 2590 7,717 Net of reIptsI{paVrnentsI 18.491 Increase/Decrease in value of COIF Investments -3,(XJO Transfer to Designated Fund OTotal funds brought forward 18.123 5.884 -15.OQK 23.208 23,208 Total Funds rrie{l torward 32.215 Page 5
Landkey United Charities Statement of Assets & L5abi15t5es as at 28 February 2025 29.02.24 Note 28.02.2025 28.022025 Fixed 353ets 662.752 Tangible assets 227,520 Investments 662,752 233.404 890,272 896.156 Current assets Cash at bank and in hand.. 52,939 10,879 unrestritted funds restricted funds 54,668 10,879 65.547 954.090 Net 3ssets 961.703 Funds 10.879 Restrirted Funds 907,2Q6 Unfestricted Funds 36,005 Designated Fund for Property Refurbishment 10,879 916.213 34.611 954,090 Total funds 961,703 The financial statements were approved by the tnjstees on behalf by IG.Ic¢G J25 and signed on their Mr Richard Prowse Ichairl Trustee. Mrs Gemma Williams - (Secretary) Trustee Page 6
Landkey United Charitie5 Notes to the financial statements forthe year ended 28 February 2025 Tangible frxed assets Property valued at £662.752 was transferred from Charini Number 233786 on 1.09.2023 Investments Investments valued at £209,029 were transferred from Charity 233786 on 1.09.23. These have been valued at mid-market Wdlue ot the balance sheet date. Employees The charity has no employees. Trustees do not receNe remuneration. Restricted Fund A restricted fund for property maintenance has been transferred from thartty number 233786 On 1.09.23. No transactions have taken place this period. Creditors The following payments have been made in March relating to year ended 28 February 2025=_ Ortopus Energy £14.42. Suresafe Elertrics £55.44. Mark's Cleaning & Restoration SeMce5 £1650. cUrrenV owing - Steven5 & Willey for examination of accounts. Unrestrirted Fund5 linduding Designated Fund) Unrestricted Funds include in¥estment g3ins on the Revaluation Reserve Balance as at l March 2024 Incoming Resources Gains and Trf Balance as at 28 February 2025 Revaluation Reserve General Funds 782,736 160.475 782,736 168,088 18,123 5,884 .16,394 943.211 18,123 5,884 -16,394 950,824 7 DesTgnated Fund A Designated Fund has been set up to prepare for property renovation is on Cottages 1-3. The total lincluded in Unrestrirted Funds) is £34,611 Page 7