Medmenham Church Cottages Charity Annual Report 2024 ## BACKGROUND The oldest records available show a regularisation of the charity, and recognition or it as such, in the Charity Commission Order made 10[th] July 1945. Describing the “scheme”, it accepts that an endowment was made many decades perhaps centuries before of the 6 cottages build on land adjacent to the Medmenham churchyard and also the HenleyMarlow road. Between 1945 and the year 2000 one of the pairs of cottage had a staircase removed and it reverted from two “one-up-one-down” cottages into what is now marked as no. 6, now a single unit. Border Cottage is at the other end, a detached house, and in between are nos. 2, 3, and 4. All 5 cottages are, as of 31.12.24, privately rented. The land is vested in the Official Trustee of Charity lands with Land registration title number BM333455. If all or any part of the land is sold the proceeds go into the charity funds to be used for the charitable purposes. ## ACTIVITY IN 2024 Rev Andrew Storch was licensed as Priest-in-charge of the Hambleden Valley Group of Churches on 4.12.23. He thereby became the incumbent with responsibility for Medmenham church. He was also tasked with stabilising the governance of the Church cottages which had become precarious with no ex-officio trustees, and all existing trustees awaiting the acceptable of their resignations, tendered in 2022. In the calendar year 2024 the initial urgency was to recruit further trustees. In the absence of church wardens, according to the trust, the only standing trustee would be the Rector. That appointment was only made on the 1st of September 2024. The existing trustees had already sought to be released but under trust law, a trust cannot be left with no trustees. As priest-in-charge, Rev Andrew Storch recruited Tracy van Wick and Tim Jones (both from Medmenham village) to join him as trustees and the two preexisting trustees confirmed the appointment of all 3 as new trustees under s.36 of the Trustee Act 1925. They were released from their trusteeships. The next urgency was to register the trust as a charity to ensure no fiscal complications or unintended consequences. The Charity Commission accepted the charity and registered it as number 1208372 in Spring 2024. The third essential requirement was to make a decision as to the future of Border Cottage which had become uninhabitable (the tenant had to be moved to another cottage), and the roof had collapsed. Utilising his essential wisdom and experience, the manager of the properties, Peter Neagle, was able to secure reasonable quotations which led to the selection of a preferred contractor and the entire restoration work was done within budget and within time frame so that the property was completed by the end of the year. The outlay was covered by existing capital and although it puts 2024 into a deficit it is not a recurring outlay. During the year it was clear that the purpose of the trust was to provide for the financial security of the church and its services in perpetuity and the decision was made not to sell Border Cottage but to let it at the market rent the trust required. At the same time the other rentals were increased by modest amounts, but with a view, ultimately, to reaching market levels in a few years' time. Throughout this time the other cottages continued to be managed and maintained by Peter Neagle. Towards the end of 2024 Border cottage was advertised for letting and after a vigorous vetting process a new tenant was agreed whose assured shorthold tenancy commenced January 2025. ## **Medmenham Church Cottages** **Accounts for the year ended 31st December 2024** 25/01/2025 16:09 ## **MEDMENHAM CHURCH COTTAGES** ## **Accounts for the year ended 31st December 2024** ## **INCOME & EXPENDITURE ACCOUNT** |**INCOME & EXPENDITURE ACCOUNT**
**Cottages**
Rents received
Repairs & maintenance
Sale of items
Refurbishment
Rates
Surplus on Cottages
Rent collection
Legal & Professional fees
Management fees
Insurances
Surplus/(Deficit) for the year
CCLA Interest
Less: Contribution to PCC
**Surplus/(Deficit) for year**
**BALANCE SHEET**
**_Current assets_**
CCLA deposit account
Lloyds bank
**_Current liabilities_**
Accruals
**_Net assets_**
**_General Cottage fund (Unrestricted)_**
Opening balance
Surplus/(Deficit) for year
Closing balance|**_Border_**
**_No 3_**
**_No 4_**
**_No 5_**
**_No 6_**
6,200
6,200
10,292
10,498
358
470
1,655
( 374)
26,502
1,028
27,530
( 374)
358
470
1,655|**_Not_**
**_Attributed_**
1,908
1,908
**-**
**-**
8,310
2,362|**_2024_**
**_Total_**
33,190
4,391
( 374)
26,502
1,028
31,547
1,643
10,672
( 9,029)
1,229
( 7,800)
7,500
(15,300)
24,124
3,174
27,298
1,233
1,233
26,065
£
41,365
( 15,300)
26,065
£|**_2023_**
33,735
12,409
2,450
14,859
18,876
3,133
157
1,600
2,113
7,003
11,873
1,408
13,281
13,000
281
32,895
8,745
41,640
275
275
41,365
£
41,084
281
41,365
£| |---|---|---|---|---| ## **ACCOUNTANT'S REPORT** I confirm that I have produced the above Income & Expenditure Account and Balance Sheet for the year ended 31st December 2024 from the statements and accounting records provided by the Trustees of the Medmenham Church Cottages Michael Wortley 25/01/2025 16:09 ## **Medmenham Church Cottages** **Accounts for the year ended 31st December 2024** 25/01/2025 16:09 ## **MEDMENHAM CHURCH COTTAGES** ## **Accounts for the year ended 31st December 2024** ## **INCOME & EXPENDITURE ACCOUNT** |**INCOME & EXPENDITURE ACCOUNT**
**Cottages**
Rents received
Repairs & maintenance
Sale of items
Refurbishment
Rates
Surplus on Cottages
Rent collection
Legal & Professional fees
Management fees
Insurances
Surplus/(Deficit) for the year
CCLA Interest
Less: Contribution to PCC
**Surplus/(Deficit) for year**
**BALANCE SHEET**
**_Current assets_**
CCLA deposit account
Lloyds bank
**_Current liabilities_**
Accruals
**_Net assets_**
**_General Cottage fund (Unrestricted)_**
Opening balance
Surplus/(Deficit) for year
Closing balance|**_Border_**
**_No 3_**
**_No 4_**
**_No 5_**
**_No 6_**
6,200
6,200
10,292
10,498
358
470
1,655
( 374)
26,502
1,028
27,530
( 374)
358
470
1,655|**_Not_**
**_Attributed_**
1,908
1,908
**-**
**-**
8,310
2,362|**_2024_**
**_Total_**
33,190
4,391
( 374)
26,502
1,028
31,547
1,643
10,672
( 9,029)
1,229
( 7,800)
7,500
(15,300)
24,124
3,174
27,298
1,233
1,233
26,065
£
41,365
( 15,300)
26,065
£|**_2023_**
33,735
12,409
2,450
14,859
18,876
3,133
157
1,600
2,113
7,003
11,873
1,408
13,281
13,000
281
32,895
8,745
41,640
275
275
41,365
£
41,084
281
41,365
£| |---|---|---|---|---| ## **ACCOUNTANT'S REPORT** I confirm that I have produced the above Income & Expenditure Account and Balance Sheet for the year ended 31st December 2024 from the statements and accounting records provided by the Trustees of the Medmenham Church Cottages Michael Wortley 25/01/2025 16:09