FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISFI OF ST SJDWELL EXETER Charit Number: 201038 ACCOUNTS FOR THE YEAR ENDED TH 30 JUNE 2025 Beard & Co Accountants Primrose House 6 Blackbo). Road Exeter Devon EX4 6SG FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISH OF ST SIDWELL EXETER Charit Number: 201038 TRUSTEES AT THE END OF THE FINANCIAL YEAR Mr R Broom Chairnian Mr M Beard Mr R Scott Mrs W Gill Mrs S J E Mills Mr T Bruce MrGRPym Mrs J Hodgin Miss R M K Meyers Mrs D S C Yarde Mrs P Rogers ADMINISTRATIVE CLERK Mr T L Tancock INDEPENDENT EXA￿lINER's REPORT FTr:OTr-FEES OF TFIE PARISH LAliDS AND OTHF.R CHARI'I'IES IN THE ANCIENT PARISH OF ST SIDII'Tr'LL EXk"I"Tr:R Chari . Number: 201038 ON ACCOUNTS FOR THE YEAR F.NDED 30111 JUP*F. 2025 SET OUT ON PAGES I to 3a L report lo the Ituslees on my examination of ihe accounis of the above C]￿ritY ("the Trust") fur Ilie yCntinuing with il and the Trustees agreed lo sell it and it was sold in the year. 2 Investments and CIF Investment Funds The Charity has funds hdd by the CIF and there are Iwo general holdings. Th8 first is 196.19 shares in one fund whF¢h is an accumulating investmenl. With this investment monies earned are re-inveslwj in the fund and al 30.06.2023 the value of the shares are as sel out on page 3a. The second holding is 16.469.26 shares made up of parts of 8.444.17 and 8,025.09. The income from this is paid directly into the Charit￿5 Bank Currenl A¢¢ounl and the value of these is also sel wl on page 3a. There are various other funds held by the CIF in tho form of shares and we refer you lo Schedule 1 which sets out the Charills name, ihe number ol sh8re5 held with the CIF and a valuab.on of holding al 30.06.2024. The 18rgesl ol these is the Baker Sandford United Charity with 3,401.44 shares and the smallest is Ihe Thomas Tooker Charity with 2.47 shares. The income from Ihose is paid directly into the Charitvs Bank Current Account. FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISH OF ST SIDWELLS EXETER Chari Number: 201038 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH JUNE 2025 continugd Value at Value at 30.06.25 30.06.24 Purchased Investments (new since 19951 8,025.09 COIF 321 Premier Milton Groul PIC (was originally 1066 Milton Group Share) 155.803 129 163,246 231 155,932 163,477 CIF Inv9$tmgnt Funds loriginall 196.19 Accumulating shares w¢lh COIF 8,444.17 Shares with COIF Various other funds wtlh COIF see ￿￿Ule 1 49,622 163,938 96,860 50.550 171,768 101,488 310,420 323,806 2025 2024 Adminlstratlon Costs Insurance Printing, Postage. Stationery and Telephone Bank Charges 910 392 146 1448 24 237 159 420 Investment Pro Costs Propety Repairs and Renewals Property Insurance Light and Heal Property Rales 30,802 4,746 1.543 2,231 39,322 58,494 4,662 898 992 65,046 Accountln Policies The accounts have been prepared on a Receipts and Payments basis Trustees Remuneration and Ex en$os No remuneration or reimbursement of expenses has been made lo the Trustees in the year FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISH OF ST SIDWELL EXETER Charit Number: 201038 SCHEDULE 1 LIST OF COIF INVESTMENT FUNDS Valu• at 30.6.202 Valu• at 30.6.2024 Holdlng In Income Sharos 196.19 52.00 871.33 4.16 14.91 261.31 21.84 82.55 E R F Scheme Lawrence Seldon John Webb AOI Miss H E Drake Franklin E Nosworthy M A Franklin 49,622.00 1,010.00 16,916.00 80.76 289.47 5.073.18 424.07 1.608.48 50.550.12 1.057.77 17,724.42 84.62 303.30 5,315.52 444.26 1,685.32 IE li 16.04 100.15 .0.20 stock 8.48 64.81 3.49 2.47 6.43 6.43 3401.44 70.77 16469.24 Mary Arthur Charity Sarah Brown Charity S 8rown T Collins Land Chamber of Exeter Charity T Smallridge T Tooker R Herman Ackland Baker and Sandford United J Moffall Si Sidwells 311.41 1.944.35 3.88 164.63 1,258.25 67.76 47.95 124.83 124.83 66.036.92 1,373.96 319.740.80 326.28 2,037.23 4.07 172.50 1,318.35 70.99 50.24 130.80 130.80 69,191.41 1,439.59 335,014.39 466.223.47 487.051.98 This holding is in 0.20 2.5% Consolidated Stock FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISH OF ST SIDWELL EXETER Chari Number". 201038 SCHEDULE 2 SCHEDULE OF PROPERTIES HELD BY THE CHARITY ALL IN EXETER Value Value 30.6.24 Bowe Court. Jesmond Road. 6 Flals 1.029.380 1,029,380 Ivy Cottages. Jesmond Road. Wling House 255.750 255,750 Hampton Buildings, Blackboy Road. Flat 172,260 172,260 Hampton Buildings. Blackboy Road. Flat 172,260 172,260 25 Blackboy Road. Exeler. 2 Flats 422.180 422,180 26127 Blackboy Road. 2 Flats 403,260 403,260 Garages in Toronto Road 94,920 94,290 26 Marypole Road. ￿lInghOUSe 210,980 210,980 2.760.990 2.760,360 .1 As in the previous year. the poslion regarding conversion of the garages lo 3 residential houses is still ongoing. However part of the sile which contained an eleelrieity sub-station, was sold. The nel proceeds after legal costs was £2,982. The tenants had a Lease which could not be changed, so the Trustees decided lo sell the sile lo the lenanl. this being the National Grid. On advice from a local eslale agent, the value of the remaining TrMII not be effected by the sale of the sub- 51ation. FEOFFEES OF THE PARISH LANDS AND OTHER CHARITIES IN THE ANCIENT PARISH OF ST SIDWELL EXETER TRUSTEES ANNUAL REPORT FOR THE YEAR FROM 1ST JULY 2024 TO 30TH JUNE 2025 CHARITY NO: 201038 The purpose of the Charity which incorporates several smaller Charities, is to supply help for the benefit of the poor within the ancient Parish of St Sidwell, Exeter. There is a variety of ways that the Charity can do this, and the Charity does have several properties which are rented out, the rent being considerably lesser than the open market rental value. Also, with the properties the tenants are not needing to do repairs. as the Charity maintains the properties free of cost. In the year to 30th June 2025 the Trustees decided to sell a small part of the property in Toronto Road which was in fact an electricity sub-station and it had received rent from it over several years. The rent however was minimal and required was a new Lease and this was quite expensive when the Trustees spoke to the solicitor. Also, because of the Lease the tenants had it was not possible to take them off the site and they are a national company, The National Grid Electricity Distribution ISWI PLC. Much thought was given by the Trustees and di5CUSsions had at various meetings in relation to this electricity sub-station and it was decided in the end of sell it as the tenant made an offer which was accepted and they paid the Charit¢s legal costs. Also. it was to the side of the Toronto property which was granted planning permission to take down the garages which formed all of that property and put up three properties. The Trustees are thinkin8 about actually developing this piece of land and building the three properties, it would need some borrowed money from the Bank, but the benefits could be very significant for the Charity. The three houses are all three bedroomed and would fetch reasonable money however presently the property is on the market and there is very little interest except prices offered which are not realistic. However, if the site is cleared and a price has been got for that which is very realistic and the Charity has employed a structural engineer to advise. This structural engineer has acted for the Charity in the past th and is a local professional. The site. by the time the new year ends which is the 30 June 2026 should be cleared of the garages and building should be available to be done, however the Council have insisted certain paperwork needs to be completed and also inspection in relation to the site. The Trustees have discussed this with the structural engineer and also the planning consultant who achieved the planning permission. It is hoped therefore to get on with this and clear the site and then Bet a reputable firm of builders in to give prices to build the houses. The Charity does have significant cash funds, but it will not be enough to do the work and once an estimate is received the Trustees will talk about this again. The Charity's properties specifically the one on Jesmond Road ha5 some structural problems in relation to land slip. It is built on the top of a town park and serious cracks in the ground by the property have come to light and are getting worse. The City Council have been very unhelpful with regard to this as the land that is slipping away belongs to the Council and they have done some work which was actually a complete waste of time. The consultant engineer was also instructed to look at it and did a report, and his report was sent to the Council and been ignored. One of the Trustees is a solicitor who ha5 retired from practice, and he has been writing to the Council and found them very unhelpful. Even worse was the fact that the Council agreed to meet on site and then did not turn up. This is a serious problem and would be quite expensive for the Charity to put right but it is not their land and therefore pressure is now going to be exerted on to the City Council which may involve legal costs which is something the Charity has tried to avoid. However, with the subsidence like it is there well could be a real problem for the property at the top subsiding or the foundations slipping. The Trustees have this in hand, but what is disappointin8 for the Charity is the fact that the City Council have not been helpful as they were not helpful in relation to the planning for Toronto Road. There is nothing more to say about the properties the rest of the properties are in good order. The financial position of the Charity ha5 improved again this year and what has helped is the increase in rent and also investment income. However the investments held by the Charity th at the 30 June 2025 compared with 30 June 2024 have reduced by £20,828. Hopefully over the next year this will improve. Grants have been at a reasonable level this year compared with last year as the Trustees decided to use some of their funds for grants which were wholly needed. The Trustees are happy with the position that the Charity is in at 30th June 2025 and the state of the finances and properties at that date. The Trustees have always considered the 8uidance issued by the Charity Commissioners on public benefit when making decisions, however some of these decisions were paramount to providing for the poor. All 8rants were discussed at Trustees meeting5 and funds provided or not depending on the Trustee5 a55e55ment. Thanks should be given to the Charity Clerk, Terry Tancock for all the work that he has put in. Some of the matters he has had to deal with on behalf of the Charity have been very time consuming and he has dealt with them well. Mr R Broom (Chairman) /. Dated=