Trustees’ annual report on activities in the year 2020
The Silverton Parochial Trust, formally known as the Silverton Parochial Charity, comprises numerous individual bequests to benefit the poor of the parish, some dating back nearly 400 years. The present scheme was approved by the Charity Commission in 1990, combining the many bequests and legacies into a single manageable charity fund. The Trustees are charged with the task of managing the fund and applying the income to the relief of hardship or need to persons resident within the Silverton parish boundary. When those needs are met there is a secondary responsibility to apply the surplus to the general benefit of the parish.
The Trust remains in a satisfactory financial state, and it continues to fulfil the general aims and objectives of the original benefactors in meeting the claims of the needy within the parish. When an application is received and the need established, the Trustees are able to help from the funds available.
The Trust is managed by Trustees, whose names are listed at the end of this report, their appointment being in accordance with the terms of the Trust Deed. The Ex-Officio Trustee is the incumbent of the benefice of St Mary the Virgin, Silverton who was appointed as Rector of the parish in March 2020. There are currently 7 other Trustees and two officers (a treasurer and a secretary) who are not Trustees.
The Trustees held six meetings in the year 2020 with the scheduled meetings in March, April May and June cancelled due to Covid. However, the Trustees continued to stay in touch via email and continued transacting business and dealing with applications. The average Trustee attendance of the six meetings being 4.6
Finances
The Trust continues to have more than one income stream and is in a sound position to maintain its obligation in serving the needs of the least fortunate in the Parish.
Grants were given to twelve people and three Community projects this year, a welcome increase from 2019. Overall, the net receipts and payments for both this year and 2019 were very similar. However, some £11,000 more was spent on grants in 2020, mainly offset by a saving of a similar amount on property maintenance in this year. Over the last few years all four properties have been improved substantially and the benefit is now becoming evident. As reported last year, the roof of the three terrace houses will need to be replaced in the foreseeable future, and £30,000 is currently held in savings for this.
The financial statement for the year ending 31st December 2020 is included with this report. Income for the year was £36,620 [£35,328]. A modest increase in the Land and Property rents was the main cause of the small increase in income this year.
Expenditure was 5% more than in 2019 at £25,481 [£24,227]. Grants for Community projects and to individuals totalled £15,261 [£4,103], while property repairs were substantially lower, amounting to £5,567 [£15,727] and the property management fee was £3,187 [£3,048]. Insurance and Administration costs were £1,466 [£1,349].
The Trust’s cash funds at year end stood at £9,932 [£9,793] in Lloyds Bank plus a reserve of £43,000 [£32,000] in the COIF Charities Deposit Fund. The year’s income from the COIF Charities Investment and Deposit Funds was £6,320 [£6,298]. The value of the Investment Funds at year end was £302,906 [£282,104]. The book values of the properties and lands have been retained at £563,000.
Grants in Aid
The Trust currently pays the Mid Devon District Council rent for six personal alarm systems; it was seven last year. Grants were made to assist twelve parishioners with some immediate needs and to three community projects.
The Future
The Trustees continue to be pro-active in identifying cases of need of assistance and to publicise the trust within parish organisations. Covid and continuing financial restrictions and pressures have increased calls for assistance which the Trust has been able to meet, and it is anticipated that applications will increase as the effects of the pandemic continue to be felt within the parish. The Trustees continue to enjoy an excellent relationship with the carers and other organisations within the parish, thus helping to maintain a public awareness of the Trust and its purpose within the community. In the coming financial year, the Trustees will continue the refurbishment of some properties.
Jane Isaac
July 2021
Silverton Parochial Trust: Trustees and additional officers 2020
Mr James Blackburn 24 Fore Street Silverton EX5 4HP
Mr Adrian Bolt 7 Ellerhayes Hele EX5 4PU
Joining as a new Trustee in September 2020 The Revd Paul Kingdom, The Rectory, 21a King Street, Silverton EX5 4JG
Additional Officers
Mrs Jane Isaac 24 Silverdale, Silverton Ex5 4JF
The Rev’d Preb Alan Macdonald
14, Applemede Silverton EX5 4JX
Mrs Jill Riggs Penstone Farmhouse Lease Hill Hele EX5 4QA
Secretary
The Rev’d Preb Sue Sheppard Lamb Cottage 49 Fore Street Silverton EX5 4HZ
Joining as the new Secretary in September 2020 Ms Maggie Smith 52 Wyndham Road Silverton EX5 4JZ
Treasurer
Mrs Sue Sherburn
The Old Police House 2, Parsonage Lane Silverton EX5 4JB
Mr Richard Truran 79 Wyndham Road Silverton EX5 4JZ
Mrs Sue Tucker
24 Wyndham Road Silverton EX5 4JU
The Silverton Parochial Trust
Registered as The Silverton Parochial Charity No. 201255
Statement of Financial Activities for Year ended 31[st] December 2020
| Section A Receipts and Payments Total Funds £ A1 Receipts 2020 Property and Land Rent 30,260 COIF Charities Deposit Fund 94 COIF Charities Investment Fund 6,236 Western Power Wayleave 30 Total receipts A2 Asset and Investment sales etc. Nil A3 Payments 2020 Property Repairs 5,567 Insurance premiums 712 Administration 754 Property Management Fees 3,187 Grants to individuals and community projects 15,261 Total payments Net Receipts/(Payments) A4 Asset and Investment purchases, etc. A5 Transfers between funds Transfer to COIF Charities Deposit Fund A6 Cash funds last year end Cash funds this year end |
Total Funds £ £ 2020 2019 29,000 186 6,112 30 36,620 Nil 2020 2019 15,727 769 580 3,048 4,103 25,481 11,139 Nil [11000] 9,793 9,932 |
£ 2019 35,328 2019 24,227 |
|---|---|---|
| 11,101 Nil [12000] 10,692 |
||
| 9,793 |
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Independent examinerfs report on the accounts CHARITY COMMISSION FOR ENGLAND AND WALES Section A Independent ExamFner's Report Report to the trusteesl members of SILVERTON PAROCHIAL CHARITY On aGcounts for the year ended ST 31 DECEMBER 2020 Charity no (If any) 201255 Set out on pages 1to3 Respective responsibilities of trustees and oxaminer The charty's trustees are responsible for the preparation of the accounts. The charitys trustees consider that an audrt is not required for this year und8r section 144 of the CharEties Act 2011 (Ihe Charities Act.) and that an independent examination is needed. It is my responsibilty to: examine the accounts under section 145 of the Charities Ad, to folli)w the procedures laid down in the general Directions given by the Charity Commission (under section 145(5){b} of the Charities Act. and to state whether particular matters have come to my attention. Basls of independent My examination was carried out in accordance with general Directions gNen examinevs statement by the Charty Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented wtth those records. It also includes consideration of any unusual Ètems or dtsdosures in the accounts. and seeking explanations from the trustees Gonceming any such matters. Tre procedures undertaken do not provTrde all the evidence that would be required in an audrt, and consequently no opinion is given as to vthether the a¢¢ounts present a Irue and fairf view and the report is limited to those rnatters set out in the ststement Èelow. IER
Independent In ¢onneGtion with my examination. no matter has come to my attention examingr's statement other than that disclosed below 1. which gives me reasonable cause to believe that in. any material respect. the requirements: to keep accounting records in accordance with section 130 of the Charrttes Act., and to prepare accounts which accord with the accourrting records and comply with the accounting requirements of the Charities Act have not Leen met." or 2. to which, in my opinion, attention should be drawn in order to 8nable a r understanding of the accounts to be reached. Signed: | Name: Date: 23 JANUARY 2021 DUNCAN CHAR S HARRINGTON Relevant professional qualification(s) or body (if any): BA (Hons) - FINANCIAL SERVICES FELLOW OF THE LONDON INSTITUTE OF BANKING & FINANCE Address: LEIGH CQThAGE, LEIGH BARTON SILVERTON, DEVON EX5 40A Section B Disclosure Only complete if the examiner needs to highlight material problems.Eg accounting records have Thotbeen keptlR a[dance s132 of the Chartbes. Act 2011 and those aco)unts do notcomply with the fEquiremettsofthe 2008 Regulationstting outtheforn an¢J Cotent0f¢8r[ty accourts,. any material expenditute oraction which appears notto be ID 8ccordan¢ewiththetrusts ()fthe chaiity. any failureto be provided wrth infomiation and explan¥b"onsby any past orpresenttnjstee, officerDremployee: and atry material consi*ncy btheentheaoVnts2nl the trustee5' annual Port.) IER