## **Bradninch Town Trust** ## **Report of the Trustees for the year ending 31 December 2024.** Charity number 200847. Current Correspondence Address: Springfield, Millway Bradninch Exeter EX5 4NL The Trustees of Bradninch Town Trust present their annual report and independently examined accounts for the year ended 31 December 2024. The Trust was created by a scheme of 1889 to take over the assets of the former Corporation of the Borough of Bradninch which had been dissolved by the Municipal Corporations Act of 1883. The principal asset was and is the Guildhall in Bradninch and the principal duty of the Trust is to maintain the Guildhall as a reading room and a place of recreation and assembly for the inhabitants of Bradninch. To this end, the Trustees hire out the various rooms and facilities in the Guildhall for a range of organisations and individuals. These are overwhelmingly used by local residents. The Trustees had regard to the Charity Commission’s guidance on Public Benefit. Other assets are: a house which is let on a commercial basis; a small piece of land attached to the Guildhall which is rented as a garden to a neighbour; an endowment fund held in a portfolio of investment funds and a general fund also held in a portfolio of investment funds. The Trustees of this Trust are also Trustees of Bradninch Parochial Charities (201496), George Pearse’s Educational Foundation (306850) and the Roger Hepburn Educational Foundation (306923). The full complement of trustees is four Representative Trustees who are appointed by Bradninch Town Council and five Co-optative Trustees who are appointed by the trustees. Trustees for 2024 were: Philip Chambers, Contact: Co-opted by the Trustees Nigel Coveney (up to February): Appointed by Bradninch Town Council Anne Porteus (chair from November): Appointed by Bradninch Town Council Ronald Purcell: Co-opted by the Trustees Anthony Richards (chair up to October): Appointed by Bradninch Town Council Sally Livsey: Co-opted by the Trustees Jim Buxton: Appointed by Bradninch Town Council Nicola Clarke (from March): Co-opted by the Trustees Piers Kotting (from April): Co-opted by the Trustees The Clerk’s position was vacant and Trustees shared her responsibilities between themselves (see below). During this time the Trust did not have an explicit policy on reserves but did maintain a separate account holding funds not involved in the Guildhall lettings income and expenditure which is used for building repairs where grants cannot be obtained. An endowment fund is held in an investment account with the aim of providing a small income while maintaining its real value in the long term. Another non-endowment fund is held in an investment account with the aim of maintaining its value in the long term. Lettings income is returning to normal, with regular events including Saturday coffee mornings raising valuable funds for community organisations and some new events. It became clear that the stair-lift was no longer fit for purpose. Planning approval had been achieved in 2022 to upgrade mobility access, including installing a platform lift, so it was decided that the lift element of the plans should be brought forward. Until that could be achieved, so as to maintain disability access for the Town Council meeting, a temporary replacement for the stair-lift was installed on a rental basis. I wish to record here my thanks to the trustees (see the list above) for the work undertaken alongside me as a committed team, all of whom are volunteers, working according to the Governing Schemes of the Trust. All have given many hours of their time and expertise to great effect. The Russian invasion of Ukraine and other world factors continued to have an impact on the cost of Gas and Electricity. These are a substantial part of the cost of running the Guildhall and the Trust ensured that the best prices were being obtained. This meant that it would not be possible to appoint a paid Clerk. So, the Trust continued without a Clerk and Phil Chambers continued with finance and laptop administration and was on call with practical help; Ron ran the on-line lettings system and minutes were taken mostly by Anne. Nigel continued to assist with progressing the Trust application for C.I.O. status. Ron oversaw the heating systems, promotion of the guildhall and lending a practical hand. Anne took the lead in updating policies. Early in the year the Trustees decided that the stairlift was no longer safe. The stairlift was replaced by a new and up-to-date unit on a rental basis. It could then be removed when the planned chair-lift is installed. A small Community Library was created in a corner of the downstairs hall with book-shelves, carpeting and comfortable chairs. The Trustees are grateful for the Devon County Council Community Support Fund which provided a grant for this. No small grants were offered to local organisations this year owing to lack of income and upcoming project needs. We rely upon our charitable status and lettings for income, and our policy is to keep Guildhall charges at an acceptable level. **The future** : Towards the end of the year energy prices had started to fall, making the situation for 2025 look less stark. The Trustees continue their wish to consult with the community and listen to ideas and comments to improve the facilities and activities at the Guildhall and these can be made as above or to any Trustee. We depend on local support. Thanks to the community of Bradninch for their generous support once again over the last year. We are proud of the service which our Guildhall provides and of the achievements in the past year and we look forward to a successful year ahead. Signed on behalf of the Trustees: Chair of Trustees **Town Trust Summary 2024** |**Town Trust Charities 30-98-61 00552830**|**Town Trust Charities 30-98-61 00552830**|**Town Trust Charities 30-98-61 00552830**| |---|---|---| |**Receipts**
Rents
Investment Income
Parochial Charities Donations
Grants/Fundraising
Furlough Support
Covid-19 Support
Other
**Total**
**Payments**
Staff Costs
Admin Costs
Insurance
Repairs & Cleaning Materials
Properties Maintenance
Grants
Other
**Total**
**Receipts less Payments**
**Transfers From Other TT Accounts**
**Transfers To Other TT Accounts**
**Net Transfers**|**2023**
**2024**
£8,404.00
£8,404.00
£60.50
£75.47
£1,200.00
£1,200.00
£0.00
£309.00
£0.00
£0.00
£0.00
£0.00
£60.00
£0.00|| ||**£9,724.50**|**£9,988.47**| ||£0.00
£0.00
£250.00
£264.50
£1,368.95
£1,402.65
£0.00
£0.00
£2,681.52
£6,507.98
£70.00
£0.00
£110.00
£1,571.12|| ||**£4,480.47**|**£9,746.25**| |||| ||**£5,244.03**|**£242.22**| ||£5,000.00
£0.00
£5,000.00
£0.00|| ||**£0.00**|**£0.00**| |||| |**Lettings Account**|**30-98-61 00553055**|| |**Receipts**
Lettings
Bar
Investment Income
Film Nights
Grants/Fundraising
Other
**Total**
**Payments**
Wages
Admin Costs
Insurance
Utilities
Cleaning & Repairs
Bar
Film Nights
Other
**Total**
**Receipts less Payments**
**Transfers From Other TT Accounts**
**Transfers To Other TT Accounts**
**Net Transfers**|**2023**
**2024**
£17,419.85
£19,857.66
£0.00
£0.00
£2,400.00
£2,400.00
£0.00
£0.00
£25.00
£217.75
£0.00
£41.22|| ||**£19,844.85**|**£22,516.63**| ||£10,534.50
£11,217.00
£536.35
£433.63
£1,182.33
£1,204.41
£10,016.23
£8,647.93
£1,776.02
£3,086.14
£0.00
£0.00
£0.00
£0.00
£146.06
£189.81|| ||**£24,191.49**|**£24,778.92**| |||| ||**-£4,346.64**|**-£2,262.29**| ||£5,000.00
£0.00
£5,000.00
£0.00|| ||£0.00|£0.00| |**Building Account**|**30-97-77 22738560**|**30-97-77 22738560**| |---|---|---| |**Receipts**
Grants and Donations
**Total**
**Payments**
Architect Fees
New Benches
**Total**
**Receipts less Payments**
Transfers From Other TT Accounts
Transfers To Other TT Accounts
**Net Transfers**|**2023**
**2024**
£8,978.21
£50.00|| ||**£8,978.21**|**£50.00**| ||£2,940.00
£0.00
£0.00
£1,716.40|| ||**£2,940.00**|**£1,716.40**| |||| ||**£6,038.21**|**-£1,666.40**| ||£0.00
£0.00
£0.00
£0.00|| ||**£0.00**|**£0.00**| ## **Town Trust Account Aggregates 2024** |**Receipts**
**2023**
**2024**
Rents
£8,404.00
£8,404.00
Lettings
£17,419.85
£19,857.66
Investment Income & Interest
£2,460.50
£2,475.47
Parochial Charities Donations
£1,200.00
£1,200.00
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Building Project Grants/Donations
£0.00
£0.00
Other Grants/Fundraising
£9,003.21
£576.75
Other
£60.00
£41.22
**Total**
**£38,547.56**
**£32,555.10**
**Payments**
Wages
£10,534.50
£11,217.00
Admin Costs
£786.35
£698.13
Utilities
£10,016.23
£8,647.93
Insurance
£2,551.28
£2,607.06
Cleaning & Repairs
£1,776.02
£3,086.14
Properties Maintenance
£2,681.52
£6,507.98
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Grants
£70.00
£0.00
Building Project Work
£2,940.00
£1,716.40
Other
£256.06
£1,760.93
**Total**
**£31,611.96**
**£36,241.57**
**Receipts less Payments**
**£6,935.60**
**-£3,686.47**|**Receipts**
**2023**
**2024**
Rents
£8,404.00
£8,404.00
Lettings
£17,419.85
£19,857.66
Investment Income & Interest
£2,460.50
£2,475.47
Parochial Charities Donations
£1,200.00
£1,200.00
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Building Project Grants/Donations
£0.00
£0.00
Other Grants/Fundraising
£9,003.21
£576.75
Other
£60.00
£41.22
**Total**
**£38,547.56**
**£32,555.10**
**Payments**
Wages
£10,534.50
£11,217.00
Admin Costs
£786.35
£698.13
Utilities
£10,016.23
£8,647.93
Insurance
£2,551.28
£2,607.06
Cleaning & Repairs
£1,776.02
£3,086.14
Properties Maintenance
£2,681.52
£6,507.98
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Grants
£70.00
£0.00
Building Project Work
£2,940.00
£1,716.40
Other
£256.06
£1,760.93
**Total**
**£31,611.96**
**£36,241.57**
**Receipts less Payments**
**£6,935.60**
**-£3,686.47**|**Receipts**
**2023**
**2024**
Rents
£8,404.00
£8,404.00
Lettings
£17,419.85
£19,857.66
Investment Income & Interest
£2,460.50
£2,475.47
Parochial Charities Donations
£1,200.00
£1,200.00
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Building Project Grants/Donations
£0.00
£0.00
Other Grants/Fundraising
£9,003.21
£576.75
Other
£60.00
£41.22
**Total**
**£38,547.56**
**£32,555.10**
**Payments**
Wages
£10,534.50
£11,217.00
Admin Costs
£786.35
£698.13
Utilities
£10,016.23
£8,647.93
Insurance
£2,551.28
£2,607.06
Cleaning & Repairs
£1,776.02
£3,086.14
Properties Maintenance
£2,681.52
£6,507.98
Bar
£0.00
£0.00
Film Nights
£0.00
£0.00
Grants
£70.00
£0.00
Building Project Work
£2,940.00
£1,716.40
Other
£256.06
£1,760.93
**Total**
**£31,611.96**
**£36,241.57**
**Receipts less Payments**
**£6,935.60**
**-£3,686.47**| |---|---|---| ||**£38,547.56**|**£32,555.10**| ||£10,534.50
£11,217.00
£786.35
£698.13
£10,016.23
£8,647.93
£2,551.28
£2,607.06
£1,776.02
£3,086.14
£2,681.52
£6,507.98
£0.00
£0.00
£0.00
£0.00
£70.00
£0.00
£2,940.00
£1,716.40
£256.06
£1,760.93|| ||**£31,611.96**|**£36,241.57**| |||| ||**£6,935.60**|**-£3,686.47**| **Town Trust Schedule of Balances for 2024** ## **Lloyds Current Accounts** ## **Account No. 00552830 - Town Trust Charities** |**Town Trust Schedule of Balances for 2024**|**Town Trust Schedule of Balances for 2024**|**Town Trust Schedule of Balances for 2024**| |---|---|---| |**Lloyds Current Accounts**||| |**Account No. 00552830 - Town Trust Charities**||| |Opening Balance at Bank:
Receipts:
Payments:
Receipts less Payments:
Transfers From(+)/to(-) Investments:
Closing Balance at Bank:
Other funds within this account:
War Memorial Fund
S A Morgan
Guildhall Upkeep Fund
Billiards Fund
Net Town Trust balance:|**£24,508.06**|| |**Account No. 00553055 - Guildhall Lettings Account**
Opening Balance at Bank:
**£3,235.58**
Of which are Reserves
£0.00
Initial Working Balance
£3,235.58
Receipts:
£22,516.63
Payments:
-£24,778.92
Total Transfers to Reserves
£0.00
Receipts less Payments:
-£2,262.29
Transfers From(+)/to(-) Investments:
£0.00
Final Working Balance:
£973.29
Final Reserves:
£0.00
Closing Balance at Bank:
**£973.29**||| ||**£973.29**|| |||| |**Account N0. 22738560 - Guildhall Building Project**
Opening Balance at Bank:
£6,342.87
Receipts:
£50.00
Payments:
-£1,716.40
Receipts less Payments:
£4,676.47||| |||| **Town Trust Investments for 2024** ||**Town Trust General Fund (Parmenion No: PCP35845)**
Opening Balance:
£28,760.48
Transfers in(+)/out(-):
£0.00
Interest and Capital gain:
£1,607.24
Interest Drawn Down:
£0.00
Charges:
-£373.21
Closing Balance:
£29,994.51|**Town Trust General Fund (Parmenion No: PCP35845)**
Opening Balance:
£28,760.48
Transfers in(+)/out(-):
£0.00
Interest and Capital gain:
£1,607.24
Interest Drawn Down:
£0.00
Charges:
-£373.21
Closing Balance:
£29,994.51|**Town Trust General Fund (Parmenion No: PCP35845)**
Opening Balance:
£28,760.48
Transfers in(+)/out(-):
£0.00
Interest and Capital gain:
£1,607.24
Interest Drawn Down:
£0.00
Charges:
-£373.21
Closing Balance:
£29,994.51| |---|---|---|---| |||£29,994.51|| ||||| ||**Town Trust Endowment (Parmenion No: PCP6601)**
Opening Balance:
£110,867.53
Transfers in(+)/out(-):
£0.00
Interest and Capital gain:
£6,663.26
Interest Drawn Down:
-£2,400.00
Charges:
-£1,502.17
Closing Balance:
£113,628.62||| |||£113,628.62|| ||||| Report to the trusteesl members of BRADNINCH TOWN TRUST On accounts for the year ended 31 DECEMBER 2024 Charity no (if any) 200847 Set out on pages I report to Ihe trustees on my examinalion of the accounts of the at(Jve ¢harity {Ihe Trust.) for the year ended 31 December 2024 Responslbllltles and basls of report As the charivs trustees. you are responsible for the preparation of the accounts in arxordance with the requirements of the Charities Act 2011 ('Ihe Acr}. I report in respect of my examination of the Trust's accounts carried out under section 145 ofthe 2011 Act and in carying out my examination, I have followed all the applicable D1￿CtionS given by the Charity Commission under section 145{5)(b) of the Act. Independent examlner's statement I have compleled my exafflinalion. I confirm that no material matters have come to my attention in connection vthth Ihe examination which gives me cause to believe that in. any material respecl: the accounting records were not kept in a¢¢ordanc8 with section 130 of Ihe Charities Act,. or the accounts did not ac￿rd with the arxounting records; or the accounts did not Comply with the applicable requirernents Con￿rning the form and conlenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requir9ment that the a¢counts give a 'true and fair. view which is not a matter considered as part of an irKlep6ndent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enab18 a proper understanding of the accounlsto b8 reach8d. Slgned: Date: 2£-NIDJ- Name: ison Waple Relevant professlonal quallflcallon{s) or body (If any): Associate Member of The Institute of Chartered A¢¢ounlants in England and Wales Membership number. 7311904 Address: 17, Hen Street, Bradninch, t)evon EX5 4NR Town Trust Account Aggregates 2024 Receipts Rents Lettin95 Investment Income & Interesl Parochial Charities tbnalions Bar Film Nights Bu1￿1ng Project GranlslDonalions Other GranlslFundraising Other 2023 £8.404.00 £17.419.85 £2.460.50 £1,200.00 £0.00 £0.00 £0.00 £9.003.21 £60.00 £38,547.56 2024 £8.404.00 £19.857.66 £2.475.47 £1,200.00 £0.00 £0.00 £0.00 £576.75 £41.22 £32,555.10 Total Paymonts Wages Admin Costs £10.534.50 £786.35 £10,016.23 £2,551.28 £1,776.02 £2,681.52 £0.00 £0.00 £To.00 £2,940.00 £256.06 £31,611.96 £11.217.00 £698.13 £8,647.93 r2,607.06 £3,086.14 £6,507.98 £0.00 £0.00 £0.00 £1,716.40 £1.760.93 £36.241.57 Insurance Cleaning & Repairs Properties Maintenance 8ar Film Nights Grants 8uilding Projecl Work Other Totsl R8c8lpts lass Payments £6.93&60 3.686.47 Town Trust Sthedule of Balances for 2024 Uoyd5 Current Accounts Account No. 00552830- Town Trust tharities Opening BalantÈ at Bank.. Receipt5'. Payments.. Receipts less Payments.. Transfers Froml+lJto(-I Investments.. C105ing Balance at Bank.. E24,$08.06 £9.988.47 -£9,746.25 E242.22 EO.00 £24.750.28 Other funds within this account.. War Memorial Fund SAMorgan Guildhall Upkeep Fund Billiards Fund £506.87 £685.65 £455.78 £182.91 Net Town Trust balance.. £22.919.07 Account No. 00553055- Guildhall Letting5 Account O￿nIng Balance at Bank.. 01 which are Reserves Inilial Working Balance ReceipLs'. Payments.. Total Tran5fer5 to Reserves Receipts less Payments.. Transfers Froml*l/io(.I Invesiment5'. Final Working Balance.. Final Reserves.. Closing Balance at Bank.. £3,235.58 EO.00 £3,235.58 E22.516.63 -£24,778.92 Éo.00 -£2.26? 29 £0.00 E973.29 £973.29 Account NO. 22738560- Guildhall Buildin& Proje Opening Balance at Bank.. Receipts.. Payments.. Receipts less Payments.. £6,342.87 £50.00 .£1.716.40 £4.676.47 Town Trust Investments for 2024 Town Trust General Fund (Parmenion No: PCP3S8451 Opening Balance.. TransfÈrs inl+l/outl_I'. Interest and Capital 8ain'. Interest Dfawn Down.. Charges.. C105inB Balance.. E28,760.48 £0.00 £1.607.24 £0.00 -É373.21 E29.994.51 Town Trust Endowment (Parmenion No- PCP66011 Opening Balance.. Tran5fer5 inl+l/outl-I'. Interest and Capital gain-. Interest Drawn Down.. Charges". Closing Balance.. £110.867.53 EO.00 £6,663.26 £2.400 00 -£1.502.17 £113.628.62 Town Trust A55ets and Lialxlitie5 2023 Properties Bradninch Guildhall Bussell's Orchard 10 Jubilee Road £1 £1 E3Th),000 Other A￿ets None Liabilities None Ill/2￿7> Namè: Trustee Name: SALLI A Lj￿￿E Trustee