2025-09-30-accounts

FEOFFEES OF TETBURY TETBURY CHARITY ESTATE Incor oratin the John Philli s Millennium Green Trust FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025 Charity Number 202286

FEOFFEES OF TETBURY

TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust) FOR THE YEAR ENDED 30TH SEPTEMBER 2025

CONTENTS

Legal & administrative information Trustees report Independent examiners report Fund account Balance sheet Notes to accounts	Page
	1 2 - 3 4 5 6 7-10

Page 1

FEOFFEES OF TETBURY TETBURY CHARITY ESTATE (Incorporating the John Phillips Millennium Green Trust) LEGAL & ADMINISTRATIVE INFORMATION

(Common to both Charities) FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Trustees

The trustees, who held office throughout the year were as follows:

L.R. Vick Chairman D.J. Hicks J.A. Hugginson W. Cook M.J. Houghton D. Norris Resigned 01/11/2024 H.J. Pearce A Walsh Appointed 01/11/2024

Secretary

A. McKay

Administrative Address

Cricketers Rest Northfield Road Tetbury

Charity Number 202286 Treasurer K L Hassett

Independent Examiner

Bankers

Monahans Chartered Accountants, Oakley House, Tetbury Road, Cirencester, Glos. GL7 1US Lloyds TSB Bank plc, Cirencester Glos.

Solicitors

Winterbotham Smith Penley LLP 2nd Floor 65 London Road Gloucester Glos. GL1 3HF

Page 2

FEOFFEES OF TETBURY

THE ROMNEY CHARITY (TETBURY CHARITY ESTATE)

(Incorporating the John Phillips Millennium Green Trust)

TRUSTEES' REPORT

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

The trustees have pleasure in presenting this report for the year ended 30 September 2025, which has been prepared in accordance with the charitable deed and the recommendations of the Statement of Recommeded Practice - Accounting and Reporting by Charities and complies with applicable law.

The attached accounts are prepared under the "Linking by Uniting Direction" procedure agreed with the Charity Commissioners incorporating the John Phillips Millennium Green Trust for Part VI (accounting) of the Charities Act 2012, which does not remove the separate legal nature of the Millennium Green Trust, the assets of which are only administered on a special trust basis.

Governing Instrument

The Romney Charity

The charity’s objects and regulations are governed by the charitable deed and the Charities Act 2012. The objects of the charity are given by deed of 1814 and the now amended scheme of 1830, whereby the trustees (Feoffees) are empowered to use the assets under their control for the general benefit of the people of Tetbury. These objects include, in particular, the advancement of education, the relief of poverty and the provision and maintenance of the open areas, recreational spaces and the other properties owned by the charity.

The John Phillips Millennium Green Trust

The trust's objects and regulations are governed by the charitable deed and the Charities Act 2012, the main aim being to provide informal leisure amenities for the people of Tetbury.

Principal Policies to Achieve Objectives

It is the aim of the common trustees of both charities to maximise the use of the assets and income under their control, for the benefit of the residents of Tetbury, in full accordance with the specified objects of the respective charities.

Review of Activities

The Romney Charity

The Trustees and their supporters have continued their efforts to utilise the charity’s funds and property assets to provide the maximum benefits for the local communities, whilst increasing their grant aid to help both individuals and organisations, improvements are also carried out on the estate properties to provide amenity areas for use and enjoyment by residents and visitors alike.

Investment income was relatively flat year on year, although the underlying investment itself declined in value from £869,404 to £831,892 (4.3%), with general market conditions continuing to be volatile post the period end. Sadly, market house income continued to decline for a further year. However, rental income increased year on year by 26%, primarily due to increase parking revenue from the Chipping car park. This revenue stream remained strong post year end and resulted in the charity filing to become VAT registered. The current cash position remains healthy and should allow charitable activities to continue for the short to mid-term. a detailed summary of our annual results is outlined below and more details of the charities activities can be obtained from our website.

Income for the year was £110,880 (2024 £99,071). Market house income (£2,912) Rental income £13,875 Other £846

Expenditure £116,849 (2024 £78,933)

The Trustees were pleased to be able to yet again increase the level of grants distributed (£42,290 versus £33,875), increasing the total expenditure in the year. These included several donations to local schools, youth sports teams, elderly support and local community events.

In addition, significant investment was required in the year in maintaining open spaces and the chipping car park, not least with more than £10,000 spent on maintaining trees, ensuring that these areas are safe and enjoyable for the residents and visitors of Tetbury to use.

Page 3

FEOFFEES OF TETBURY

THE ROMNEY CHARITY (TETBURY CHARITY ESTATE) (Incorporating the John Phillips Millennium Green Trust) TRUSTEES' REPORT ( continued ) FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The John Phillips Millennium Green Trust

The Green is still retained as an informal leisure area for public use and community activities. The charity has no regular income and is maintained by grant aid from The Romney Charity which has agreed to maintain these funding arrangements for the foreseeable future. Operating costs for this current year amounted to £3,905 (2024: £6,581). Costs were met from opening cash reserves and grant funding of £3,000 received from The Romney Charity in the year.

Investment Policy

The Trustees have considered the most appropriate policy for investing surplus funds and will continue to use the COIF Charities Investment Fund as the primary source to generate future income and capital growth for the benefit of the charity, alongside a short notice period savings account with Lloyds bank.

Reserves Policy

The Romney Charity

The unrestricted reserves of the charity are represented by the balance sheet value of the net current assets as follows:-

follows:-
Total net current assets:- Less: Capital value of Lewis Memorial Fund Net unrestricted reserves	2025 2024 £ £ 393,837 400,130 (1,739) (1,377)
	392,099 398,753

The trustees aim to retain permanent reserves equating to an estimated full years normal expenditure requirement plus a restoration reserve (£50,000) to cover unforeseen and essential renovation expenditure required to maintain the charity’s property estate. The reserve levels continue to be reviewed at least annually.

The John Phillips Millennium Green Trust

In accordance with the linking procedure, the total reserves of £16,739 are shown as restricted reserves on the face of the balance sheet and form no part of the unrestricted reserves of The Romney Charity.

Risk Management

The trustees continue to assess the major risks to which both charities are exposed and aim to mitigate exposure to such risks

Reporting Accountants

The reporting accountants. Monahans have expressed their willingness to remain in office and a resolution for their reappointment will be made at the next general meeting.

Page 4

FEOFFEES OF TETBURY

TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

INDEPENDENT EXAMINERS REPORT

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

We report on the accounts of the Charity for the year ended 30th September 2025, which are set out on pages 7 to 12.

Respective responsibilities of trustee and examiner.

As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 2012 (the Act) does not apply. It is our responsibility to state, on the basis of procedures specified in the General Direction given by the Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to our attention.

Basis of independent examiner's report.

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosure in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent examiner's statement.

In connection with our examination, no matter has come to our attention:

1. Which give us reasonable cause to believe that in any material respect the requirements

a. To keep accounting records in accordance with section 41 of the Act; and b. To prepare account which accord with the accounting records and to comply with the accounting requirements of the Act.

have not been met; or

1. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Oakley House Tetbury Road Cirencester Glos GL7 1US

Monahans

Chartered Accountants

DATE

Page 5

FEOFFEES OF TETBURY

TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Unrestricted Notes TCE £ Incoming resources Incoming resources from generating funds Investment Income 1 24,117 Interest Income 1,773 Incoming resources from charitable activities Rents 2 66,997 Wayleaves 3 478 Market House 4 16,431 Other incoming resources 5 1,084 Total incoming resources 110,880 Resources expended Costs of generating funds Lecturers Grant Tetbury Town Council - Advowson Romney Education Foundation - Annual Grants Other Educational Grants 6 - Sundry Donations/Grants 10 42,290 42,290 Charitable activities Upkeep of Market House 7 15,654 Upkeep of Open Spaces 8 19,515 Governance costs Administration Costs 9 15,041 Other resources expended Chipping Car Park 11 14,431 Depreciation 9,918 Total resources expended 116,849 Net incoming resources before transfers (5,969) Other recognised gains/losses Loss on Revaluation of Property Assets 12 - Gains/losses on investments Market value at 1 October 2024 869,404 Purchases - Market value at 30 September 2025 831,892 Gain/(Loss) on investments (37,512) Total net movement in funds (43,481) Reconciliation of Funds Total funds brought forward 2,371,295 Total funds carried forward £ 2,327,814 £ 2025	Restricted Unrestricted JPMG Permanent Endowmen t TCE £ £ - 23,547 - 2,315 - 53,122 - 478 - 19,343 3,000 267 3,000 99,071 - - - - - - - - 33,875 - 33,875 - 14,425 3,875 6,121 30 11,294 - 3,746 - 9,472 3,905 78,933 (905) 20,138 - - 793,754 - - 869,404 - 75,650 (905) 95,788 17,644 2,275,507 16,739 £ 2,371,295 £ 2024	Restricted JPMG Permanent Endowmen t £ - - - - - 6,000
		6,000
		- - - -
		- - 6,581 - - -
		6,581
		(581)
		- - -
		-
		(581) 18,225
		17,644

Page 6

FEOFFEES OF TETBURY

TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

BALANCE SHEET

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Notes Unrestricted TCE Fixed Assets £ Tangible Assets 12 1,330,691 Investments Restricted 31193.30 shares of the Charities Official Investments Fund - at market value (2027.06p per share) 13 605,025 1,935,716 Current Assets Cash at bank and building society 14 156,193 COIF Units - Unrestricted reserves 13 226,867 Debtors 15 14,892 397,952 Current Liabilities Creditors 16 5,853 Value Added Tax 5,853 Net Current Assets 392,099 Total Assets Less Current Liabilities £ 2,327,814 £ Accumulated Fund Brought forward 2,371,295 Surplus/(Deficit) for the year (43,481) Total £ 2,327,814 £ 2025	Restricted Unrestricted JPMG Permanent Endowmen t TCE £ £ 15,000 1,340,235 - 632,307 15,000 1,972,542 2,265 159,225 237,097 - 9,146 2,265 405,469 527 6,716 - - 527 6,716 1,739 398,754 16,739 £ 2,371,296 £ 17,644 2,275,507 (905) 95,788 16,739 £ 2,371,295 £ 2024	Restricted JPMG Permanent Endowmen t £ 15,000 -
		15,000
		3,348 -
		3,348
		703 -
		703
		2,644
		17,644
		18,225 (581)
		17,644

We approve the financial statements set out on pages 8 to 11 in respect of the year ended 30th September 2024 and confirm that we have made available all relevant records and information for their preparation.

Signed on behalf of the board of trustees

L R Vick Chairman DATE D J Hicks Vice Chairman

Page 7

FEOFFEES OF TETBURY TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2025

Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005). Under the ''linking by uniting direction'' procedure, the transactions, assets and liabilities of the Millennium Green Trust are now separately identified, with the relevant comparatives shown.

Fund account

The fund account is prepared on a receipts and payments basis except where a material accrual or prepayment exists in relation to the year under review.

Taxation

The charity has been approved tax exempt status by HM Revenue & Customs.

Depreciation

Depreciation has been provided so as to write off the cost of tangible fixed assets less residual value over the estimated useful economic life as follows:

Fixtures & Fittings	15% straight line
Fixed Plant & Machinery	5% straight line

Land and property are carried at valuation and any revaluation changes are stated in the notes on fixed assets with movements shown as adjustments to the accumulated fund in the year in which they occur. No depreciation is provided as the trustees are of the opinion that the normal residual value is such that the depreciation charge is considered immaterial.

1. 2.

TCE JPMG TCE JPMG £ £ £ £ Investment Income The Charities Official Investment Fund 18990.97 shares - dividends 10,679 - 10,426 - 12202.33 shares - dividends 6,861 - 6,699 - 11696.58 shares - unrestricted funds 6,577 6,421 - £ 24,117 £ - £ 23,547 £ - TCE JPMG TCE JPMG Rent £ £ £ £ Herd Lane Allotments 1,350 - 1,435 - M. & R. Bellhouse - The Chipping 4,740 - 4,740 - Royal Oak Lease 20 - 20 - C.D.C. Chipping Car Park 56,423 - 43,382 - G Bristow, Herd Lane 300 - 300 - Cattle Market Parking 3,605 - 3,245 - London Road Parking 560 - - - £ 66,997 £ - £ 53,122 £ - 2025 2024 2024 2025

Page 8

FEOFFEES OF TETBURY TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

NOTES TO THE ACCOUNTS (continued)

FOR THE YEAR ENDED 30TH SEPTEMBER 2025

3. 4. 5. 6. 7. 8.

TCE JPMG TCE JPMG Wayleaves £ £ £ £ Southern Electricity PLC 173 - 173 - British Telecom 79 - 79 - Residential receipts 225 - 225 - £ 478 £ - £ 478 £ - Market House Hiring/Sales income £ 16,431 £ - £ 19,343 £ - Other income - 3,000 - 6,000 Other 1,084 - 267 - £ 1,084 £ 3,000 £ 267 £ 6,000 Other Educational Grants St Mary's Primary School - - - - Sir Williams Ronmey School - - - - £ - £ - £ - £ - Upkeep of Market House Cotswold District Council rates 311 - 130 - Gas Heating costs 1,286 - 1,251 - Electricity 2,635 - 2,240 - Wi-Fi charges 504 - 485 - Water rates & services 282 - 277 - Caretaking costs 550 - 1,700 - Cleaning costs 1,413 - 1,301 - Zurich Municipal - general insurance 3,055 - 2,948 - Winding and maintaining clocks 1,451 - 1,109 - Fire service appliances/alarms 46 - 293 - Hanging baskets/planters 758 - 717 - Emergency lighting and lighting repairs 529 - 504 - Performing rights licence 260 - 260 - Other costs 2,253 - 284 - Painting - 527 Flag costs 272 - - - Radiator and boiler repairs 48 401 £ 15,654 £ - £ 14,425 £ - Upkeep of Open Spaces Grass cutting 2,378 1,710 3,355 1,650 Bristol Water 126 53 209 51 General maintenance & planting 3,290 1,906 - 2,068 Auctioneers Huts - Electricity - 207 - 746 Tree works 10,206 - 1,425 2,066 Allotment maintenance - - 300 - Preston Park repairs 2,140 - - - Preston Park Path - - - - Dry stone wall repair - - 375 - Skips - - 321 - Sundry 1,375 - 137 - £ 19,515 £ 3,875 £ 6,121 £ 6,581 Annual Funding Donation - TCE 2024 2025

Page 9

FEOFFEES OF TETBURY TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust) NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2025

9.Administration Expenses Clerk/Treasurer office expenses Accountancy fees Insurances Legal fees Sundries Bank charges £ 10.Sundry Grants & Donations Sundry grant Sundry Donations Tetbury Town Council Tetbury Cricket Club Millennium Green W Hateley Tetbury in Bloom St Marys Primary School Telfest TTC Advowson Tetbury Rail Lands Tetbury Rugby Club St Marys Playgroup Cirencester Food Bank Christchurch Tetbury Tetbury Library Tebury Gymnastics Tetbury Football Club Rev V Hughes Tailor Made Events Tetbury Area Youth & Community Trust Club 77 Cirencester Football Club Tetbury Bowls Club The Athelstan Trust Tetbury and District Dolphin Dramatic Society South Western Ambulance Tetbury Police Museum Tetbury Woolsack Race £ 11.Chipping Car Park/Chipping Steps Rates Bollard service charge Tarmac Repairs and marking London Road Car Park Repairs and markin £ 12.Land and Property 1) Tetbury Charity Estate At Valuation 1st October 2024 Revaluation adjustment Additions Disposals 30th September 2025 Depreciation 1st October 2024 Charge for year Depreciation on disosals 30th September 2025 £ Net book value 1st October 2024 £ 30th September 2025 £ 2) John Phillips Millennium Green Trust At Valuation 1st October 2024 30th September 2025	TCE JPMG £ £ 10,273 1,068 1,019 660 1,992 30 30 15,041 £ 30 (30) - 150 - 70 - - - 3,000 - - - 1,500 - 9,000 - 1,000 - - - 1,000 - 500 - - - 3,000 - 1,500 - - - - - 1,000 - - - - - 6,500 - 300 - - - 400 - 10,000 - - - 900 - 500 - 1,000 - 1,000 - 42,290 £ - 659 - 2,603 - 4,428 - g 6,742 - 14,431 £ - Freehold Freehold Property Land £ £ 400,000 911,000 400,000 911,000 - - - - - - £ 400,000 £ 911,000 £ 400,000 £ 911,000 £ £ 15,000 15,000 2025		£ £ £ Plant & Machinery £ 49,546 374 49,920 31,663 2,545 34,208 £ 17,883 £ 15,712 £		TCE JPMG £ £ 9,228 - 1,068 - 983 - - - 15 - - - 11,294 £ - 100 - 650 - 75 - 1,000 - 6,000 - - - 1,500 - 8,000 - 1,000 - 70 - 150 - 1,000 - 700 - - - 1,500 - 1,000 - 1,000 - 1,300 - 230 - 1,000 - 5,000 - 200 - 1,200 - 500 - 500 - 200 - - - - - - - - - 33,875 £ - 659 - 1,392 - 1,695 - - - 3,746 £ - Fixtures & Fittings Total £ £ 73,565 1,434,111 - - 374 - 73,565 1,434,485 62,213 93,876 7,373 9,918 - 69,586 £ 103,794 11,352 £ 1,340,235 3,979 £ 1,330,691 2024	JPMG £ - - - - - -

Page 10

FEOFFEES OF TETBURY

TETBURY CHARITY ESTATE

(Incorporating the John Phillips Millennium Green Trust)

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2025

13. Investments

Restricted

Restricted 13. Investments
Total Funds £ Charities Official Investments Fund	Fund Balance b/fwd Purchase Transfer Gains & Losses Fund Balance c/fwd 632,307 - (27,282) 605,025
	632,307 - - (27,282) 605,025

At the year end the Charity held 31193.3 shares at 1939.60p per share (2024: 31193.3 shares at 2027.06p per share).

Unrestricted

Unrestricted
Total Funds £ Charities Official Investment Fund	Fund Balance b/fwd Purchase Transfer Gains & Losses Fund Balance c/fwd 237,097 - (10,230) 226,867
	237,097 - - (10,230) 226,867

At the year end the Charity held 11,696.58 shares at 1939.60p per share (2023 : 11696.58 shares at 2027.06p).

14. 15. **16. **	Cash at Bank & Building Society TCE £ Bank - Lloyds TSB 125,967 Lewis Memorial Fund- Building Society - Bank - Lloyds TSB Savings 30,226 £ 156,193 Debtors TCE £ Car park receipts -July/Sept 14,892 £ 14,892 Creditors TCE £ Accountancy fees 760 Refundable allotment deposits 565 Trade creditors 4,528 £ 5,853	JPMG TCE £ £ 2,265 64,875 1,377 92,973 £ 2,265 £ 159,225 JPMG TCE £ £ 9,146 £ - £ 9,146 JPMG TCE £ £ 150 760 565 377 5,391 £ 527 £ 6,716 2025 2025 2025	JPMG £ 3,348 £ 3,348 JPMG £ - £ - JPMG £ 150 553 £ 703 2024 2024 2024	JPMG £ 3,348