2025-03-31-accounts - Wayland Estates Charity

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Trustees' Annual Report for the period

Period start date Period end date

From 01 APR 2024 To 31 MAR 2025

Section A Reference and administration details

Charity name WAYLAND ESTATES CHARITY

Other names charity is known by

Registered charity number (if any) 201662

Charity's principal address 56 PITTSFIELD CRICKLADE WILTSHIRE Postcode SN6 6AW

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee(if any)
BARRIE BEASLEY	TRUSTEE	CRICKLADE TOWN COUNCIL
CELIA BINFIELD	TRUSTEE	CO - OPTED bythe Trustees
FINBARRE BRENNAN	TRUSTEE	CO - OPTED bythe Trustees
MARK CLARKE	TRUSTEE	EX- OFFICIO (being the Chairman of the Cricklade Town Council
PAM DEBENHAM	TRUSTEE	CRICKLADE TOWN COUNCIL
ALISTAIR DICKSON	TRUSTEE	CRICKLADE TOWN COUNCIL
JOHN HARMAN	TRUSTEE	CO - OPTED bythe Trustees
MIKE HATTON	TRUSTEE	CO - OPTED bythe Trustees
NICK DYE	TRUSTEE	EX- OFFICIO (being the Wiltshire Council’s Unitary Councillor for Cricklade)
TERRI ROBERTSON	TRUSTEE	CO - OPTED bythe Trustees
CLIVE SMITH	TRUSTEE	EX- OFFICIO (being the High Bailiff of the Cricklade Manorial Court)
DAVID TETLOW	CHAIRMAN	CRICKLADE TOWN COUNCIL
Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
n/a
Name of chief executive or names of senior staff members (Optional information)

The Wayland Estates, Registered Charity No. 201662

Section B Structure, governance, and management

Description of the charity’s trusts

Type of governing document

(eg. trust deed, constitution)

Scheme sealed 31 March 1976 and as amended by a resolution dated 8 July 2009 and as amended by a resolution dated 5th February 2020.

How the charity is constituted TRUST

(eg. trust, association, company)
4 Nominated by Cricklade Town Council, 5 Co-opted by the Trustees, 1 Ex officio being the High Bailiff of the Cricklade Manorial Court, 1 Ex officio being the Chairman of Cricklade Town Council 1 Ex officio being the Wiltshire Councillor for Cricklade

Trustee selection methods

(eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees.
the charity’s organisational structure and any wider network with which the charity works.
relationship with any related parties.
Trustees’ consideration of major risks and the system and procedures to manage them.

Mr Dye was appointed as the new Wiltshire Councillor on the election date of 14 March 2024 and his appointment as an ex-officio Trustee is recognised as the same date.

The position of each of the following Trustees was considered:

Terri Robertson

Term of Office ended 31 March 2025. Reappointed as a co-opted Trustee for a further 5 years

Alistair Dickson

Term of Office ended 31 March 2025.

Mr Dickson decided to retire as a Nominative Trustee. The Chairman thanked him for his 23 years of service particularly with regard to his incisive views as part of the finance subcommittee. Mr Dickson was warmly applauded by all those present at the February 2025 meeting.

The processes for appointing a new Trustee were also discussed. It was agreed that the vacancy be advertised in the Chronicle at the earliest opportunity so that any applications can be reviewed at June 2025 meeting. The Clerk had prepared a note which Trustees approved with amendments, and this will be published in the Chronicle and on the notice boards.

At the February 2025 meeting, Mr Tetlow was nominated as Chairman by Mrs Debenham, seconded by Mr Dickson. This was unanimously agreed and, therefore, Mr Tetlow was elected and took the Chair.

The Chairman welcomed two members of the public who were in attendance at this ‘open’ meeting. Conflict of Interest Register The Charity maintains an up-to date register. It is minuted that membership of an organisation need not necessarily prevent a Trustee from participating and voting on any decision about that organisation. Each situation, declared by a Trustee, will require an individual judgement from all Trustees.

Public Benefit Declaration

The Trustees present at each meeting unanimously made the following declaration: ‘We, the Trustees, are satisfied that we have carried out the Charity’s purposes for the public benefit and confirm that, in doing so, we have had regard to the Charity Commission‘s public benefit guidance where relevant.’

The Wayland Estates, Registered Charity No. 201662

Section C Objectives and activities

Summary of the objects of the To distribute the clear income of the Charity to local groups and charity set out in its organisations for projects that will be undertaken in and around Cricklade. governing document In assessing the grants awarded the Trustees have had regard to the Summary of the main guidance issued by the Charity Commission on public benefit. activities undertaken for the public benefit in relation to A copy of the Trustees eligibility declaration is available on request by these objects (include within writing to the Clerk at the principal address. this section the statutory declaration that trustees have The Charity maintains financial investments and distributes the clear had regard to the guidance income from this source together with any other interest earned to those issued by the Charity who meet the criteria set out. Commission on public benefit) A copy of the Trustee Information Pack (T.I.P) is available on request by writing to the Clerk at the principal address.

Additional details of objectives and activities (Optional information)

Trustee Information Pack

The Grant Application Strategy was formally reviewed by Mrs Robertson and Mr Dye as follows:

You may choose to include further statements, where relevant, about:

policy on grant making.
policy programme related investment.

‘We have reviewed as required the Grant Application Strategy and propose that the changes we have made correctly set out Wayland Estates Charity's criteria and procedures for ensuring its purposes are adhered to. We recommend its adoption.’

The Trustees accepted this review and approved the continued adoption of the Grant Application Strategy until the next review date (February 2028).

contribution made by volunteers.

The Wayland Estates, Registered Charity No. 201662

Section D Achievements and performance

Summary of the main achievements of the charity during the year

Donations

Direct donations of £120 and a further £460 (£500 less fees of £40) were received via the ‘giveasyoulive’ website in memory of Mrs Margaret (Peggy) Andrews Faulkner who had served as a Trustee to this charity for over twenty years. Gift aid was claimed on the gross amount of £500 donated via ‘giveasyoulive’ and the sum of £125 was received from HMRC. Therefore, the total sum available for capital consideration in respect of Peggy was £705. Now that the processes are fully understood a gift aid claim will be made from time to time usually annually. Trustees were shown the gift aid declaration form that has been prepared for any future ‘direct’ donations .

Finance

At the May 2024 meeting, the year-end schedule of investments on 31 March 2024 was made available together with the draft accounts for 2023/2024. The meeting reviewed the figures and unanimously approved the accounts - subject to audit conducted by David Bell. The Clerk subsequently filed the audited financial information with the Charity Commission at the proper time and the Chairman sent a letter of thanks to David Bell for his services. It was noted that the total available for grant distribution is £10,716.52 from 2023/24 plus £5,377.60 carried over from previous years. With the award of £10k in grants, it was agreed that £5k of the remaining surplus (£6k) be invested in M&G Charifund units. The purchase of 327.215 units was completed on 18[th] July 2024.

At the February 2025 meeting, the schedule of investments on 31 December 2024 was made available and Mr Tetlow reported the investment fund ratio of 93.4% in equities and 6.6% in other deposits was within the broad objective set out in the investment policy. The ‘estimated’ accounts for 2024/25 indicate that approximately £12.0k will be earned in the year net of donations. With a further £0.4k brought forward undistributed, a total of £13.1k may be available for grant awards in June 2025.

Trustees agreed that the net donation of £705 in respect of Mrs Margaret (Peggy) Andrews Faulkner be invested in M&G Charifund units – the purchase of 46.287 units was completed on 24 February 2025.

Annual Report

The Trustees annual report for the year ended 31 March 2024 was also made available and unanimously approved noting that, although the report is not a statutory requirement of the Charity Commission, it is a good practice and can be made available to the public.

Grants

The following ‘interests’ (prejudicial) in applications were divulged to the meeting in June 2024: Cricklade Leisure Centre Mr Dye, Mr Harman

Those named with a prejudicial interest did not speak during the consideration on this specific application other than to answer questions, nor did they vote on whether an award should be made.

The Wayland Estates, Registered Charity No. 201662

Section D Achievements and performance

Seven applications were received including the Prospect Hospice. This
application was reviewed, as in previous years, by the Chairman without a
Trustee visit. The other applicants were ‘visited’ by nominated Trustees
who presented reports and recommendations to the meeting. The merit of
each application was discussed and voted on individually by those present
and the following awards were made:
Applicant
Project
Amount
1
Bowls Club
Ground maintenance tools
£1,125.00
2
Prospect Hospice
Care services in 24/25
£1,750.00
3
Smart Zone
Safety helmets and scooters £ 195.00
4
Latton Basin
Battery powered tools £ 530.00
5
Leisure Centre
Gym mats and weights £2.046.06
6
Memory Café
Start-up costs
£1,000.00
7
Thames Preschool
Air conditioning
£3,300.00
Total
£9,946.06
Trustees determined that the Memory Café should be given every
assistance possible and therefore made an unspecified award for start-up
costs. The organisers will be made aware that certain items detailed in this
request might not be awarded should a future application be made.
This application had no specific amount requested because the overall
project is extensive. Mr Clarke and Mr Dickson proposed that the Charity
part fund the air conditioning units as that aspect would be completed
irrespective of any other funding being raised. All present agreed with their
proposal. Payment of the award was withheld until October 2024 when
confirmation was received of the rest of the funding being available and an
order submitted.
Details of the awards were included in the Chronicle.
Grant Application Process 2025
The updated application form was considered and accepted by all present.
Details about the application process were published in the Chronicle and
on the Town Council Facebook page and placed on the Town notice
boards. The deadline for applications is 1st May 2025.
Legacies
The Legacy notice continues to appear in the Chronicle as and when there
is space enough.
Correspondence - General*
•
Requests for grants from Bobby Van Trust and Cricklade Art Group
were advised to apply in May 2025.
•
A request from the Christmas Tree Festival group was considered
not within this Charity’s terms of reference.
•
The September 2024 Charity Commission newsletter was sent to
all Trustees encouraging them to read all the 'five-minute guides'.
The bulletin appeared to have no fundamental changes to the
processes and understandings that WEC currently follows.

• Requests for grants from Bobby Van Trust and Cricklade Art Group were advised to apply in May 2025. • A request from the Christmas Tree Festival group was considered not within this Charity’s terms of reference. • The September 2024 Charity Commission newsletter was sent to all Trustees encouraging them to read all the 'five-minute guides'. The bulletin appeared to have no fundamental changes to the processes and understandings that WEC currently follows.

The Wayland Estates, Registered Charity No. 201662

Section D Achievements and performance

The Cricklade Memory Café send a report on its first-year’s activities which was shown to those present. Their AGM will be held on 12 February 2025 which Mrs Debenham attended.
The Chairman reminded Trustees that the Charity Commission system now allows all Trustees to access its online services and each person is responsible for their own personal details that are held by the Commission. It is a requirement for all Trustees to keep this information up to date.

Anonymous Donation At the February 2025 meeting, the Clerk advised that he had received a letter with an offer of a donation (at this point the value has not been specified) which has the aim of supporting the Charity’s grant making objectives and broader community development initiatives. The offer is conditional on:

Gift Aid Reclamation - The donation will be contingent upon the Trustees’ agreement to reclaim Gift Aid on the contribution, thereby maximizing the total amount available for investment.
Investment as an Endowment - The combined total of the donation and the reclaimed Gift Aid would be invested as an endowment in membership shares in Cricklade Development Foundation Limited, a non-profit organisation dedicated to advancing community objectives.
The offer states that this collaboration presents a tax efficient and mutually beneficial opportunity to achieve a meaningful and lasting impact with the objectives of:
Income Distribution - This arrangement would allow the Wayland Estates Charity to benefit from a sustainable income stream derived from the endowment’s returns. These funds would be available for distribution in accordance with its grant-making policy, supporting its mission and beneficiaries.
Community Impact - The proposed investment will also provide essential funding for Cricklade Development Foundation Limited, enabling it to deliver its community-focused objectives effectively. By fostering this partnership, we can amplify the positive impact on the community while ensuring responsible stewardship of charitable resources.

Following an extensive discussion, some Trustees with conflict-of-interest concerns requested further clarification of the processes and regulations. The Clerk was asked to prepare a note** for circulation as soon as possible. The Clerk had also already prepared a draft Donations policy which Trustees would be asked to consider, in the light of the review of this offer, before the next meeting where the policy can be formally adopted.

** After the meeting, the Clerk circulated a note which set out guidelines for Trustees to refer to and demonstrated the chain of transactions that would happen if the donation was accepted. The Clerk also shared the following advices from a phone call with the Charity Commission: • The conditions imposed do not prevent WEC from accepting the donation.
• Trustees have followed the correct procedures with regard to WEC's Conflict of Interest Policy in recognising there is a legal

The Wayland Estates, Registered Charity No. 201662

Section D Achievements and performance

requirement for charity trustees to declare a conflict of interest immediately if there is any possibility that personal or wider interests could influence their decision making.

No Trustee will receive any personal benefit from this specific investment in CDF.
As the proposed investment is intended by the Trustees to help enable CDF to deliver its community-focused objectives effectively, there is no intent to seek a capital profit for WEC and therefore a capital profit for any Trustee who is an investor in CDF.

The recommendation from the Charity Commission is that WEC accepts this donation and its conditions.

Trustees unanimously agreed with this recommendation and the Clerk wrote to the donor accepting the offer. A gift aid declaration and the sum of £12,000 were subsequently received. The Clerk applied to HMRC for the gift aid sum of £3,000 and when this was received, an investment of £15,000 was applied to shares (300) in the Cricklade Development Foundation. The Clerk wrote a letter of thanks on 23 February 2025 to the donor advising that all conditions had been met and concluded.

Retrospective conflict of interest declarations regarding the anonymous donation were made at the February 2025 meeting and by others subsequently who were not in attendance as follows:

Mr Brennan Mr Clarke Mr Dye Mr Harman Mr Hatton Mrs Robertson (prejudicial) Mr Smith Mr Tetlow (prejudicial)

The Wayland Estates, Registered Charity No. 201662

Section E Financial review

Brief statement of the charity’s policy on reserves Details of any funds materially in deficit	The trustees recognise their duty to be even-handed between the interests of present and future beneficiaries of the charity. In practice this means that consideration will be given as to whether an investment provides a suitable balance between providing income for current needs and preserving or increasing the value of the investments so that the charity can operate effectively in future. Further recognising the need for a low-risk investment policy,the trustees, when investing directly in interest bearing loans, will endeavour to do so in UK Government issued gilt-edged index-linked securities (where the capital is increased in line with the Retail Prices Index) wherever possible. Bearing in mind the long-term nature of the charity this will be in appropriate mid to long term securities. Furthermore, investments in interest bearing loans, where possible, will be made at or close to “par” (the aim being to avoid the possibility of capital being swapped for income or vice versa). No investments will be made in any speculative form of investment. Recognising the need to be prudent, but also the need to protect the charity’s funds for the future whilst generating income for distribution, the trustees will seek to invest 90% of the available funds into ordinary and other forms of share capital and 10% into deposits and/or interest-bearing loans. This is a broad objective that, given the small size of the overall assets, may be varied by 5%-10% from time to time. However, the ordinary and other forms of share capital value must not, at any time, exceed 95% of the available funds.
	None

Brief statement of the
charity’s policy on reserves
Details of any funds materially
in deficit

The trustees recognise their duty to be even-handed between the interests
of present and future beneficiaries of the charity. In practice this means
that consideration will be given as to whether an investment provides a
suitable balance between providing income for current needs and
preserving or increasing the value of the investments so that the charity
can operate effectively in future.
Further recognising the need for a low-risk investment policy,the trustees,
when investing directly in interest bearing loans, will endeavour to do so in
UK Government issued gilt-edged index-linked securities (where the
capital is increased in line with the Retail Prices Index) wherever possible.
Bearing in mind the long-term nature of the charity this will be in
appropriate mid to long term securities. Furthermore, investments in
interest bearing loans, where possible, will be made at or close to “par”
(the aim being to avoid the possibility of capital being swapped for income
or vice versa).
No investments will be made in any speculative form of investment.
Recognising the need to be prudent, but also the need to protect the
charity’s funds for the future whilst generating income for distribution, the
trustees will seek to invest 90% of the available funds into ordinary and
other forms of share capital and 10% into deposits and/or interest-bearing
loans. This is a broad objective that, given the small size of the overall
assets, may be varied by 5%-10% from time to time. However, the ordinary
and other forms of share capital value must not, at any time, exceed 95%
of the available funds.

None

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

The Charity had one principal source of income during the year being the dividends received from its M&G income units.

the charity’s principal sources of funds (including any fundraising).
This Equities Investment Fund for Charities (Charifund) is a suitable
sources of funds (including investment for the equity portion of charitable funds. It is designed to any fundraising). provide a high and growing income for charities, while at the same time
• how expenditure has protecting capital from the erosive effect of inflation. Normally the Manager’s policy is to invest in a portfolio of mainly equities and convertible
supported the key objectives stocks to provide a yield of about 60% more than that of the FTSE All Share
of the charity. Index. Wayland Estates has invested in this collective investment scheme
• investment policy and for many years now and remain satisfied that it provides a suitably objectives including any diversified portfolio of shares, with a good track record. It is run by ethical investment policy recognised professional investment managers and covered by the adopted. Financial Services Compensation Scheme. Interest is also received from the deposits at Lloyds Bank together with the bond held at Cambridge & Counties Bank. A copy of the Charity’s investment policy is available on request by writing to the Clerk at the principal address.

The Wayland Estates, Registered Charity No. 201662

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

----- Start of picture text -----
Signature(s)
Full name(s) John Harman
Position (e.g., Secretary, Trustee and Clerk
Chair, etc)
Date
5 June 2025
----- End of picture text -----

The Wayland Estates, Registered Charity No. 201662

Wayland E"slates .' Lhaiitv WAYLAND ESTATES CHARITY CONSOUDATED ACCOUNT FOR THE YEAR ENDED 31st MARCH 2025 M&G Charifund Donats"ons Interyl Inv•8tm•nt Inccth• £ 11,16426 £ 15.745.IX) 9)8.19 £ 10.403.91 481.83 £ 27.817.45 £ 10.885.54 Cl¢rk'$ expenses Donation chwge8 Hire of hall Admlnl•tration Expen••• 18020 129.02 169.02 Incom• lor tho Y•a¢ £ 27.55725 £ 10.716.52 Grnnt• Aw4rd•d 9.916.00 £ 11204.25 Net Inoomo 1 (Lo••l In thg Ywr £ 17.611.19 487.73) Blan¢g Shgrt•t 31•t March The 4¢eumul8t•J fld- opening Incre¥se l {dw¢a861 in Vall of wN861n Nel Irwme I (Lossl in the Year £ 205.244 39 7,492.99 £ 17,611.19 £ 209,009.35 1£ 3.277.23) 497.73) The aCcuThlate furvj. do8A £ 230.348.57 £ 205.244.39 Reprowi14d by M&G Charifund C¥mbridge & Cwnli08 Cricklade Development Fourtdalion RESTRICTED ENDOWMENT FUNDS £ 189.348.26 £ 13,th)) £ 15,(m. £ 176,11.27 £ 13.[).00 £ 217.34826 £ 189,150.27 Cash al bank- Lws in8tsnt depostt Cash at bank. Lloyds fix1 dep)t Cash at b8nk- Uoyd$ [r¥Irt GENERAL FUNDS £ 2,929.29 £ lo..() 71.02 5.672.88 £ lo.1. 421.24 £ 13.(K#).31 £ 18.094.12 £ ts).348.57 £ 205,244.39 I havo examined these thè undthiThJ books and records of the W8nd EstatO$ Charity for the ytsar •nded 31 Mar(* 2025. In rny oyn•)n tlw arKI fwr vitrw oftha year$ transactions and the financ4 pos 01 Ihe bal sheet date. David Boll FCA Date

Wayland 'Charih WAYLAND ESTATES CHARITY SUPPORTrNG INFORMATION FOR THE YEAR ENDED 31st MARCH 2025 M&G Ch•Ythind 202W2024 Units rought FOrd @14. 12.CQ7.568 t 176.15027 Fcwd @14.B317 12.097.568 £ 179,427.9) Un8 purth 18107r24 Untts purch&thJ IW02125 In¢reaselldew¥81 in valuation fp d11¥ th? >ar 327.215 46.287 5.(W.a) liu•a*etsel in valuali 7.42.9) thJmvJ tho Or 1£ 3.277.tJi [Td Fertvafd I5.17 12.471.070 £ 189.34826 Car1 12,097.8 £ 178.15P.27 qrntyrfdgo & Counllo8 5 Year FtxgJ Rate 8(. iwu• 33 18m e 13,WJ.c S Y•llr FL¥•J Rats BO1. 4 18111Y2023 £ 13.0.( Community B8nefft So• 8harBs 3CIJ £ 15.iKKI. £ 189.150.27 8¢h•dul• •f¢knnt• 292W2024 Lotte B86in Club Srnart Zon Lgi&ur• C•ntr• emory Café Thame8 Pr• KI01 1.750.CKI Prrw Howk• £ 1,SCQ.Lh) 530.00 1,148.50 227.00 500.00 785.92 1.125.00 195.( On 2.046.Ce Chronide Cl 3,3(Kl.(XJ HIstOr Sooaty Plw'rq M&nagWMrtCm 500. £ 3.000.00 £ 2,39).75 316C Critkntc TOTAL DISTRIBUTED 9,946.IX TOTAL tMsrRIBufEO £ 11.204.25