STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY FINANCIAL STATEMENTS 31 DECEMBER 2024 CHARITY NUMBER 203331 CON'A'Tr.N'rs Pages "rnjslccs, Report i-l i Indcpeiideni Examincr's Rcporl 12 Reccipts and Paymcnts Accounl 13-14 Nolcs to thc financiaI Slalemenls 15
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARI TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Structure governance and management The Charity is constituted under a Charity Commission Scheme of Administration dated 16 January 1987. The structure of the charity is that four trustees are nominated by the Parish Council of Steventon, and three co-opted by the trustee body as a whole. Meetings are held monthly to conduct business. To assist in administration there are two part-time employees, a Clerk, Patrina Effer and Treasurer, Gill Worthington. The Trust employs a full-time allotment warden, Andrew Bolton. The Trustees take professional advice before taking major decisions. The Charity solicitors are retained for legal work and advi. Richard Hall, retired investment adviser, acts in a pro bono capacity giving the benefit of his financial expertise in interpreting the information provided by the Charity's investment managers. Invested funds are held by M&G Securities. The Trustees report annually to the Steventon Parish Council. The Trustees regularly carry out a formal Risk Management Assessment and Health and Safety review of the Charity's circumstances and are satisfied that arrangements are in place to mitigate exposure to major operational and financial risks. Objectives, activities, achievements and performance The objects are dictated by the conslitution of the trust. These are relieving either generally of individually persons resident in the parish of Steventon who are in conditions of need, hardship, or distress by making rants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons. These are (in the order specified in the Scheme of Administration).. i. Maintenance of the allotments and surroundings (including the maintenance of land at Field Gardens). 2. Identification of cases of individual need among parishioners. 3. Identification of general need within the Parish benefiting both individuals and the Parish as a whole. This objective is usually accomplished by subsidies to existing organisations within the village.
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Care is taken to ensure that the organisations, clubs, churches etc, which are subsidised, are transparent in their objectives, their activities meet a general need within the parish, and that their finances are independently reviewed. Reporting on Public Benefit The Commission's guidance on "Charities and Public Benefit" requires that each of the Charily's aims has to have an identifiable benefit and that this benefit must be to the public or to a section of the public. The first of the three aims is the Maintenance of the allotments and the surroundings. The benefits to the public are that the allotment area is well maintained, tidy and neat. The allocation of the allotments and the availability of allotments is constantly reviewed and reported on at the monthly meetings. This ensures that the primary objective of the Charity is being met. Allotment plots benefit from quick allocation and facilities which are well maintained The surroundings have been landscaped and have paths and benches for the public to enjoy. As the allotment site is in a central village location its appearance is important and has an impact on all residents and visitors. The second aim is the identification and relief of need in individual cases. The benefit here is to the individual, where a grant can be awarded if a case of need is shown. In addition, education grants are awarded to any parishioners undertaking full-time education. who would be eligible for a student loan. Application5 can be made by anyone living within the parish or if they have a significant connection to the parish. The Trustees have noted that new housing in the village has increased the number of households by a third. They will continue to review this and the Charity's ability to provide support to these households. The third aim is the identification and re5ief of general need within the parish. The benefits are that parish groups have access lo grants that allow them to provide and develop services and activities that otherwise might not be funded. Parish projects like the support of the school, and restoration work to the Church are also supported., as these type of projects bring many benefits. Applications for assistance can be made by any parish group or society, the Parish Council and individuals. Governance to deliver aims and objectives In 2024 the Charity had no serious incidents or complaints. The Trustees understand their duty to report serious incidents should they occur and make it know that the Charity is authorised by the Charity Commission, so that individuals or groups can reporl any concerns to the Charity Commission.
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Activities, Achievements and Future Plans The primary objective of managing the allotments is achieved by the allotment warden, whilst under the supervision of a Trustee. The warden facilitates their maintenance using the equipment provided and maintained by the Charity. Emphasis is placed on maintaining the allotments and surroundings, an area of which has been landscaped, following professional advice. this includes maintenan of walercour5es, verges, shrubs and trees. The role of the warden is expanded as time allows including assistance in maintaining the elevated Causeway, a unique 12th century. listed feature of the village, which forms the southern boundary of the allotments. There is a separate village Charity (the Causeway Trust) which supervises the Causeway. One of the Trustees is now elected to sit on this Trust ensuring a close working partnership. The village greens, forming the eastern and northern boundaries of the allotrnents, are also maintained by the warden, which principally involves regular mowing to assist football and cricket clubs. The charity continues to work with the Parish Council consolidating the increase of ground maintenance undertaken by the Warden. The second objective. individual need, is achieved by regular advertisements in the monthly parish magazine, and by personal 'case finding, by individual Trustees. The support provided by the village vicar in identifying individual cases of need has continued this year. Awareness of the Charity has also increased due to the growing interest in the community of the Roots & Shoots Community Café and Allotment group. Some of the Trustees support the Gafé each week and attend, and have promoted the work of the Charity. Cases continue to be brought to the attention of the Charity by other members of the community, as in some cases embarrassment may inhibit individuals from asking the Charity directly for help. Every application is sensitively handled and steps are taken to ensure the confidentiality of the individual making the application. This is key to maintaining confidence in the Charity's scheme and encouraging others to come fonNard when they are in need. The Trustee who suspects a resident needs help will often encourage and assist the needy person to make an application. Unsolicited applications are vetted to ensure that the case for financial need is not fraudulent. According to circumstances financial assistance can be given either as a grant, or a seGured loan. The priorities are: to assist young people in setting up home within the community in which they were raised to assist elderly residents with day to day living
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 education grants to those Steventon resident who are undertaking full-time further education and are paying fees or in reIpt of a student loan The third objective in our constitution, supporting community need, as finance allows, is the most problematic. The area is relatively affluent and when funds have been available, the Charity has in most years been able to support the Parish Council in schemes which they judged to be of benefit. The list is long. but mostly involved infrastructure and providing funding for additional teaching assistants at the village school. Recent major projects include.. ongoing support to St Michael's School in the provision of an additional teaching assistant support to an established group which provides support to the older residents of the village. support to the Roots and Shoots group who have taken large allotment space and grow produce which is used to support residents in the village The constitution dictates the Charity's priorities, and the Trustees have focused on being able to fulfil the first two objectives as effectively as possible, with the least expense, to enable the Charity to apply its resources to the whole community with benefit for all. Performance can be judged by the fact that individual need is satisfied, the allotments are well maintained, and the village environment is admirable as the Warden maintains several of the public areas such as the two greens in the village. The village hall and the sports and social club continue to be assets lo the village community, and benefit from support from the Charity to maintain their standards. Plans for the future are essentially to maintain the present successful activities as far as we can.
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The following major grants were awarded for 2024 to both groups and individuals.. Grants paid to Groups - January - December 2024 Award Reason Supply of electricity for 2024 wllage Christmas lights Group North Star £150.00 Steventon Friendly Association £4.000.00 Group activities for elderly in Slevenlon Second payment of £20K grant awarded for provision of a leaching assistant for the 202312024 academic year First payment of £25K grant awarded for provision of a teaching assistant for the 202412025 academic year Sl Michael's School £10,000.00 St Michael's School £12,500.00 Total Group Grants £26,650.00 In addition. a voluntary donation was gNen lo Roots and Shoots for £200.00 in lieu of switching on the Christmas lights. Grants agreed in principle to Groups - January - December 2024 Second payment of£25K due lor 202412025 academic year award. Due to be paid in January 2025 St Michael's School £12,500.00 Grants Paid to Individuals- January - December 2024 Education Grant 13 @ £500 £6,500.00 individual Grants under £1,000 £724.10 Education Grant 4 @ £250 £1,000.00 Birthday Grants 11 @ £50 £550.00 Birthday Grants 1 @ £100 £100.00 Brown Bin applications O @ £51.50 Individual grant £0.00 £2,600.00 Resident flood damage £11.474.10 Grants agreed in principle to Individua15 - January - December 2024
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Financial Review The Charity continues to rely on the income generated from its investmenls that originally arose from the sale of allotment land. The investment strategy relies upon the Charity's view of present and future liabilities, and has arranged its finances so that it can meet these present and future liabilities. The overall results for the year ended 31 December 2024 was a surplus of £31,745 (2023- deficit £70,159). The surplus will be used to further the aims of the charity. Liabilities The liabilities of the Charity fall into three main categories= Maintenance of the allotments and properties of the Charity Relief of individual need of residents and close associates of the Parish Support of projects and groups that provide benefits for those that live in the Parish In 2024 the total of these payments amounted to £113,580 (2023 - £225,838). The increase in expenditure for 2023 was due to the costs of the refurbishment at St Michael's House. We do however have an eslimated committed expenditure of £12,500 carried forward. In order to maintain its effectiveness, it is expected that the Charity would wish to maintain a normal annual level of expenditure in the region of £120,000, and as it is a perpetual trust, these liabilities are real and therefore can be expected to increase in line with inflation. Related Parties During the year, electrical works were contracted to Causeway Eleclrical Solutions Ltd, a company of which Mr R Wilkinson is the director. Transactions were undertaken at market rate on normal commercial terms. The values invoiced were £696 <2023 - £1,726). There were no amounts owing in this or the previous year There were no donations from trustees or related parties in this or the previous year.
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves Policy All funds of the charity were unrestricted in this and the previous year and can be used to further the objectives of the Charity. Any balance in endowment funds are transferred to the unrestricted funds at the end of the year. The Charity maintains a reserve, so that it could respond to unforeseen increases in need or a reduction in income due to adverse investment conditions. As of 31 December 2024 the funds readily available for use amount to £189.830 versus £158,085 at the start of the year. This amounts to less than two times this yearfs annual income. The Charity feels that it should maintain bebNeen, one and times annual income available as reserve. The upper limit of reserves would enable a build-up of funds so that the Charity can consider financing larger scale projects, while the lower level would afford security to the typical expenditure seen over the last few years. As at the year end the committed expenditure for 2024 was approximately £12,500. The Trustees feel that the present situation with their investment income and potential luture liabilities is sound. They will continue to review the situation regularly, and will adjust it as necessary, to ensure the future viability of the Charity. Investment Policy The policy of the Charity is to maximise income from its investments so that they meet or exceed the present liabilities, without unduly jeopardising the security of the capital. The investment policy should also recognise that, as the liabilities are real, there is a need for the capital and its associated income stream to increase at least in line with inflation over the long term. As a result the present investment portfolio consists of the following: Equities Fixed I nterest Property £1,550,546.75 £ 374,199.57 £1.100,000.00 (51.3 /0) (12.4%) {36.3 /0)
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Investment income Investment income during the year is summarised below: Source 2024 2023 2025 ForecastlGuess 94,000 16,000 42.0% £ 39,000 +1870/0 2,500 £ 151,500 Charifund Charibond St Michael's House Feed in tariff £ 94,776.69 £ 16,993.31 £ 90,037.87 £ 13,872.08 £ 39,000.00 £ 1,630.55 £144,540.80 +5.3 % +22.50/0 £ 16,250.00 £ 4,682.90 £132,702.90 The Charifund and Charibond income figures stated here are net of M&G's management fees and represents the payments received. The inveslment in photovoltaic panels on the allotment building roof generated income of £4,682.90 St Michael's House income reflects the payment of rent in advance by the current tenants, as they are likely to vacate the premises in June 2025 when new tenants will need to sought. The solar panels produce an annual income of more than £2.000 per year, the variations in the annual amount received are due to the payment for the final quarter sometimes being received afler the Charity's books have closed for the year, or readings being submilted after the due date. Investment Performance The equity and fixed interest elements are currently invested in funds with M&G Investments and long-term capital performance continues to compare favourable against similar investments. The Trustees annually review M&G's performance and are satisfied that they are providing a good service. The values of the assets are summarised on the next page..
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Asset Valuation Source 2024 2023 Charifund Charibond St Michael's House Totals £1,550,546.75 £1,511,151.23 +2.61 % £ 374,199.57 £ 387,863.58 £1,100,000.00 £1,100.000.00 £3,024,746.32 £ 2,999,014.81 The Trustees regularly review Ihe performance of the investments, receiving advice from Richard Hall a person with extensive experience in fund management, and take into account any comments from the Charity's accountants, Vineyard Accountants Ltd. The dangers associated with the Ukraine war and other global conflicts together with inflation mean that forecasting share yields and values at the end of 2024 continues to be very difFicult. The investment income is based on the current value of the funds, not the original investments. During the year, St Michael's House has not been re-valued, due to current economic onditions the value of the property has not changed from previously. The property was last professionally valued at 31 December 2023. Reference and administrative details of the Charity Charity Registered Number 203331 Correspondence Address.. The Clerk SARINC c/0 The Limes 19 Lime Grove Southmoor Oxon OX13 5DN Charity Email info@sarinc.org.uk
i io STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees.. Nominated by the Parish Council Wendy Lucas Carole Denton Dawn Clements William Temple Retiring January 2029 Retiring January 2029 Retiring April 2026 Retiring January 2027 Co-opted Steven Arthur Frederick Ward Robin Mark Wilkinson Stephanie Everill Retiring January 2030 Retiring November 2028 - Chairman Retiring February 2026 Solicitors Challenor & Son Abingdon Independent Examiner Ashley N Poylon FCCA Vineyard Accountants Ltd Bankers Santander Investment Managers M&G Securities Limited Appointment and Re-appointment of Trustees Nominative trustees shall be appointed by Steventon Parish Council. Each appointment shall be made for a term of four years at a meeting convened and held according to the ordinary practi of the council. Co-opted trustees shall be appointed for a period of four years by a resolution of the trustees passed at a special meeting. Trustees may be re-appointed for a further term but are excluded from voting at their re-appointment. Trustee knowledge is kept up to date by attendance at meetings, attending any training courses and undertaking any technical reading in respect of any legislation changes.
STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of trustees, responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees RM Wilkinson Chairman 26 March 2025
Pagc 12 STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31 DECEMBER 2024 I report to the truslees on my cxamination of Ihc accounts of the abovc charity for thc year cnded 31 December 2024 sel out on pages 13 to 15. Ilesponsibilities As th¢ charity's Irustccs, you arc rcsponsible for the preparation of Ihe accounts in and bysis of rcport accordancc with thc rcquircmen15 of ihe Charities Act 2011. I reporl in rcspccl of my examinalion of thc "I"ru5t's accounts carried oul under scclion 145 01 Ihe 2011 Act and in carrying out my cxaminalion, I have followed all the applicablc DiTcclions given by thc Chariiy Commission under section 145(5)(b) of Ihc Act. Independent cxaJnincr's statement I havc complelcd my cxaminalion. I confinn ihat no matcrial rnattcrs have corne lo niy atlcnlion in conncclion with the cxamination which gives rnc causc to bclicvc thal in. any matcrial rcspcct- thc accounting records were not kept in accordancc with section 130 of the Charitie5 Acl. or Ihc accounls did nol accord wilh ihc accounting record5- or thc accounls did nol comply wilh thc applicable rcquirements conccming thc form and contcnl ofaccounls sel out in Ihc Charilies {Accounls and Rcporls) Ilegulations 2008 othcr ihan any rcquirerncnt Ihai ihe accounts givc a 'truc and fair, vicw which is nol a mallcr considcred as part of an indepcndcnt cxaminalion. I havc no concerns and have comc across no other matter5 in connection wilh Ihe examination lo which altcntion should bc drawn in Ihis report in order lo enable a propcr uiiderslanding of ihe accounts to bc rca¢hed. A N Poylon E",CCA Vincyard Accountants Ltd Chartered Cerlif1ed Accounlants 5 '1"he Chambers Vineyard Abingdon-on-Thames 26" March 2025
Pagc 13 STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Section A: Rcecipts and Payments Unrestri¢tcd funds F.ndowmcnt funds Total funds Total fund5 2024 2024 2024 2023 Ileceipt5 Iiiveslinent Income (M&G) Bank Inlcrcsl Ilcccived 111,770 111,770 7,599 216 103,910 7.341 212 7,599 216 AIIoimciit Rcnl Rcceived Si Michaels l-louse Rcnl [leiVed 16,250 16,250 3,500 4,683 30 39,000 3,500 .631 15 Grass Culling I",eLd In I'ariff Received 3.500 4,683 30 Wayleav¢ Refund from rcsident 977 977 l)onat10115 and coinpcnsation payinenls Slib tolal 300 17,305 300 145,325 70 155,679 128,020 Asset and investmcnt 5alcs, and home loan repayments etL Toial receipls 17,305 128,020 145,325 155,679 l)ayments Si Michacls I IOLISC I-xpciiscs Orants for Individual Nccds 5,579 5.579 16.735 31,911 200 118,573 26,332 26.063 16,735 31,911 200 Grants for Gcneral Purposcs Donation for Gencral Pui'poscs VillaEc Mainlcnance Govci'naiicc and Support Cosls Siib iolftl 51,357 5.003 105,206 51,357 5,003 110,785 50,426 4,444 225,838 5,579 Asset and invcslment purehasos, etc. 2,795 2,795 Tolalpaynieiils 108,001 5,579 113,580 225,838 Ivel of receipis/(paymenls) TraDsfcrs bctw¢cn fund5 (90,696) 122,441 31,745 158,0115 189,830 122,441 (122,441) 31,745 (70,159) Surplu5 lor Ihe ycar Cash (Vd5 last year end Cfislifuiiils iliisyellr eiid 31,745 158,085 189,830 (70,159) 228,244 158,085
Pag¢ 14 STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Section B: Statement of Assct5 and Liabilities at thc end of the Year Unrestricted rund5 Tr.ndowment funds 2024 Catcgories Detai15 2024 Cash funds Bank Account 189,780 l-. ixed 'l'crm Dcposil Cash in I laiid 50 Totftl cushf&nds 189,830 Fund to which asset bclongs Cost (optional) Currcnt value loptionall Inve5tmcnt asscts St Michaels l-louse Endowmenl I,ioo.000 1,550,547 374,200 126,483 3,151,230 M&G Invcslmcnt-charifund Lndowmcnl M&G Inveslmenl-charibond Lndowment I loinc Loai)s Unrcstricled Fund to which a55et belongs Cost (optional) Currenl valuc {optional) Assets rctaincd for I'hc charily's own usc Allolmcni Lluildings Traclor and Lquipmenl Unreslricled unrestr1cd Fund to which liability relatcs Amount due (optional) When due (oplional) Liabilities Grants Agrccd in principle Accrued Expenses R¢ni in udvance {7.5 weeks) Unrc5trictcd 12,500 2,975 5,556 Unreslriclcd Endowinent Signed on b¢half of ihc Trustccs on 26 March 2025 SAfwAIID R M WlI.t(INSON
Pagc 15 STEVENTON ALLOTMENTS AND RELIEF IN NEED CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 l. Trustee Remuneration and benefits During this and thc PTevious year no truslc¢5 received any remuneration, bencfils or expenses.