# RECEIPT ts from assÉ71s and all stg CharleF Stanl - Inve51menl div*Jer)ds Black Rock- Investment di¥id8nds 2023fI4 ross InLXrnÉ 27,601.27 135ti3.32 5287.94 20915.00 107.06 21353.32 Bank interest Nat￿$t atctsunts Grants lor Park lavender hed Donations an¢a refund Alami cha Reftinri Council Tax 11 Old Rpad Gfft Aid reclalm RECEIPTS 1168.iXI 779.78 2.93 59 185.11 4Q945.56 OIIIE)r ￿C not to te wunted as rncom S•lo of 11 Old Road rorAL RECEIPTS NIA 69,986.11 21624S 00 257190.56 PAYMENT Grants Chijrch Impie Indivfrjual tsrants a to Jaiios rant from revious éar RÉlief rn Need 17949 to dal& èstld 12.325.13 8149.10 6650.07 10617.49 7 178.61 27.453.08 ènclrtura Invésimènt h i charles Stanl Biaex Rock 13187.93 72.77 Not listed Not Ilsiéd nd 9 Ol*J Road and'fha Patsh" Insurance- Liabilty and Struciurnl (Coltao￿ and Park) (note, No. 11 Old Ro8d sold durin ear ProlessK>nal fees and s4N1c￿S Mainlèn8TrEe 8nd refvrbi$hment. Note- 23r24 year- I wlndows & door5 No. 6 & 9 The Patch and 8ank- ia6s ctsttSnuand pl&ntin Thv P•T Gardening and géneral care, trirn hedgB and shrubs. replacé failed lants Lavender hed Grass cuttin I Profp55ional kes Admlnl*rf•rion i Cleik's hanDrarium Scrub"neers fe Pnniing. slalionery. telephones. ink tsrtfldggk, posla9è, 9hredding. mileage (Trusiees & Clark) INolè- extra expen¥¢¥ dunng 22r23 ye?rwith sale o1110Sd Road Tethnical adv￿ & r4islralion pf %Jomgin name & webspace. also. advi￿ rè ICO 23r24 2Q22r23 DBS chécks- cle￿￿r￿Ste￿s Sutyxriptions {South Hams Adylce, ICOI Floom Hire. BCA GSts ￿ r8ilrln TN8leè$ routine costs TOTAL PAYMENTS Inve3tmeni of sale rceoeds 0111 Old Road in BlatJ( Rock TOTAL PA YIAENTS 1323.38 1072.79 220.C4J 12.288.33 12U,00 41Sil.86 849.60 1073.93 510.00 6B1.94 1.548.00 582.00 388.110 510001 arboris¢ 2023 6 75Q.QO 225.00 40&.29 65QO.00 657.97 770.40 996.00 54.00 160.IJo 54.00 53.16 39 388.86 43711.97 NtA 66.841.94 216245 00 259 956.97 Y•ar4nd Balance- Pa m¢nts ovtr M¢•1 Ca$h fund¥ la¥t •ar4nd Cash lund8 this year*nd 6,95S.83 25.513.88 18.6S7.051 28280.29 2S,513.88 vals cash fund balant6 .2 ririxfon Feoffee Tnist- Annual Statement of Ac¢vunts 2023/24 Page 2 STATEMEKf OF ASSETS AND LIABILITIES AT YEAR-ENO (A> CASH FUNDS Cash funds in bank accounts Nalwest Business Reserve Ac£ouftt One alc Natwesl Current Account TOTAL (equals"cash funds at year-end. oft p.{1) (B) INVESTMENT ASSETS Current value A rll 2024) Ye8r*nO 31.3 24 Yearand 31.3 23 13,823.55 20623.39 4,833.50 4890.49 18,657.05 25513,88 Investm&nt- BlackRock Charlties UK 8ond | BlackRcck Chanties UK Bond Fund 232.888,12 £235 024.08 Note- Proceeds from No. 11 Old Road invested in BlackRock in 22123 year (CLINVESTMENT PORTFOUO- CHARLES STANLEY Finvestments - portfolio Current value April 24) Last yèar's value (April 2023 £642,184.85 Last yeaV5 value {April 2023) B81anced portfolio held in Charfes Stanley Nominee account £677.285.08 (D) Propety LLFIXED ASSETS Current value .￿ri1 24 661.515.77 10,000 Last yea￿8 value April 2023 601,378.88 10,000 Old Road cotta Area of land behind No. 10 Old Road (nominal estimate) The Park (nominal estimate) {part previously sold TOTAL 25,000 696,515.77 636,378.88 TOTAL ALL ASSETS Current Valu ril 2024 {A) Cash funds {8) Black Rock £18,657.05 (C) Portfolio Charfes Stanley £232,868.12 (D) Fixed assets (propety) £677,285.08 TAL ASSETS 2023 £661.515.00 £1.590 325.2 ril 2023 (A) Cash fvnds (B) Black Rock £25,S13.88 (C) Portfolio £235,024.08 (D) Fixed assets (propety) £642,184.85 TOTAL ASSETS 2022 £601,378.88 £1 504 101.69 e- No. 11 Old Road sold durin this ar Brixivn Fcol'feL Tiwst- Anniial SrdLemcn( ufAccvunts 2023/24 Pa%e 3 ## ## ## Profes51onal Advisors As5el Portfolio - The Trust's porfioliolg managEd by Charles SianleyiRaymDnd Jarnes, The Board of Trustees mei wilh Paul C8nn. Investment Dlreclor, Charles Stanley, at a Boaryl meeling on 2151 November 2022. Pro - Follgwing the adomton ¢1 the Trusl's Business Plan. The 808rd of Trustees has 8PPOinted BelvDir to manage and administer tha letknn9 and day-loryday administration of its crjttages wiin effèct ironi 1st May 2024, ccoun1s - Amplitude Tax Accotjnlanis Ltd. of Lanr@ath, Comwall have again scruts'ni5ed Ihe Trust's annual accounls for this year. The Board of Tru$tees grateful lo John Mason of Amplrtude who undertakes this task with elfiuency. Govemance - The Board has subscribed to South Hams Community Action. who have given much valuable advice during ihe year. The Board Is also a memberof Devon Voluntary Action. Istr ata R￿e ton, The 8oard has Sub5crtbed to Ihe Infomialion Commlgsionefs Office during Ihe year following ad￿￿. Email add -￿88. The Board has taken oul a"Gov.UK" email address in lin• wilh guidelines and lollDwill9 advice. Technical Assista[￿8. The Board is grateful lo Triscott rechnlcal Solutions for advice duong the year. al - The Board of Trusteeg has consulled Thompson & Jackson, solioEors, regarding the Trust's Tnle during the year under review. Governancfr Pol"Cies and Poli develo Tho Board continues to Introdu￿ and ratify new pollcies and ouidelines which help establish the b)undane5 and besl practices for aC￿PIable behaviour for the Trust, includin9 the Trustees. Clerk and any of its volunleeiy. The routine review and Updaling of the Trust's pollcies has ￿UMed during Ihe year. The Board ol Tmsleés 15 grateful to Trustee Mrs. Hilchins for undertaking this duty with the Clerk. All Trustees were Circulat￿ with the policies reviewed in draft iormat. then circulated with the final version for retention. In accordan￿ wtth the Tnjsl's Environment Policy, papemork is kept lo a minimum and poliaes are arculated in digital format. The purpose of the poliaes is to influence and delemine all major dect5ions and acts'ons, and 811 aclivrt-Fes take ￿ace wilhin the boundaries SEI by Ihem. The Currenl Itst ofthe Tnjsl's policies (including risk assessments) is appended to this report (Appendix 2) Regularemail Update5 have been discontinued duisng the year lollowing the re-eslablishm¢nt of fac&t¢-face rneetings. The Board of Trustees continues to be mindful of th8 Charity Comrnission's '1S Uselul Queslion8- at all times Finances and anual Monitorin The Board of Trustees received regular updates and newsletters from Charfes Stanley on the rket sttuatlon. and Paul Cenn, Investmenl Direaor direaing supervrsing the Trust's portfolio, was always freely available lor consultation on any matter. Paul Cann attended 8 Tnjstee Board meetlng in November, in accordance With the BDard's usual practice, and gave helpful advi￿ and guidance on finanaal affairs. The Board of Trustees coTrlinues ils instruction to Chades Stanley to deal direcl wth the Trust's UK holdinos in sltxk rather than using Fund Managers in order to save charges from Orixton Feuffee Trust- Annual Slatemcnt ofAccuuiits 2023/24 Pagc 7 Summary of Referènce and Administratlon Details at year end 31st March 2024 Bjixton Feoffee Trust 203504 Appendth I Charty Name: R8916tered Charty No. Charvs Prlncipal Add￿58. clo Clerk lo the Truslees 15 Cherry Tree Drive, Bftxton, Plymoulh. PL8 200 Names ofthe chartty Trustees who man Trusteg Nam8 e the Chari Office Oates actod if not for whole year Name of person lor body) entitted to Loint Trustee Parish Council Nominee Ct>opted Mrs. E. Hitchins Chairof Trusleets Trustee Whole Year Mrs. S_ Cairo INhole Year Since August 2023 Mr5. L. Lowe Trustee Co-opted Parochial Church Council Nominee CO￿pted Mfs. J. Skentelbery Trustee hole Year Trustee Since August 2023 Mrs. A. Williams Names and addre$ses of advisers e of Advlser ' Name Ebtate AgenVProperty Belvoir (property Advi advice) Fulfords Financial Advice .as¢llin Charles Stsnle Accouniani Amplitude Tax A¢￿untants Ltd. Natwesl Thompson & Jatkson Address i3FC Ftre Si, Saltash PL12 6JR Plymsiodl PFYM￿h. PL9 7M Broadwalk House, Exeter. EX1 1TS 8razeftm￿r, Lanreah, Cofftwal. PL13 2PG 14 Old Town Street, pi moulh, FIL1 1 DG HydÈr Hous•, 680 Bud5h&ad Rd, Ptyixoulh PL6 5XR onl Bank Solicltor Slru¢tureJ governance and management Type of Governing documenL' Trust Deed dated 7,2.1996. Arnended July 2019 {see Appendix 3) Two Tfustees nominated:_ One by Parochial Church C¢)unc41 and one by Parish Council. Objectlves and activitles: Three TnJslees c￿Opted. Summary of the objects of tho charty set out In Its governlng document To maintain asset value. Assets lo be invested lo provide a secure and rising incAJme lor the Trust'3 benefioaries. Trustee 591ection methods: Summary Of the main activitl•s undertakgn for th• public benafft In rolatlon to theso objects: Regular review of inveslments. Regular revievi and care of PrO￿rtieS owned by the Twsl and rented at Ma￿et value. Svmmary of the maln aGhlevoments of the charlty during the year and deGlaratlon Pleas8 see enslosed TnJsleos' Rep)rt IpBges 6 10 11) Brixtoii Fguffce TrusE- Aniiudl Statoment nf.4ccounts 2023/24 Pagc 12 ## ## ## ## ## ## 12.Oeleg8tion In addition to their statutory powers. the Trustees may delegate any of their powers or functions io a committee of or more Trustees. A Committee must act in accordance With any directions given by the Trustees, It musi report its decision5 and activities fully and promptiy to the Board of Trijstees. It must not incur expenditure on behalf of the charity except in ac£ordance with a budget previously agreed by the Trustees. The Twstees rnust exercise their powetsjointly at properly convened meetings except where they have.. a) Delegated the exercise of the powers {either under this provision or under Sny st8lutory provision), or b) Made some other arrangements, by ffjgulations under dause 22, The Trustees rnust consider from time to time whelher the powers or functions which they have delegated should conts'nue to be delegated. MEETINGS AND PROCEEDINGS OF TRUSTEES 13.Expenses The Trustees May use the charity's funds to meet any necessary and reasonable expenses Which tney incur in the course of carying out their responsibilities as Trustees of the charity. 14.Ordinary Meetings The Board of Trustees shall hold at least four ordinary meetings in each year. All Trustees should attend at least three of tlie four above-menb'oned meetings each year. The Trustees must 8rrange ¢it each of their meelings tho date, time and place of their next meeting. unless such arrangements havé already been made. Ordinary meetings may also be called al any lime by ihé person elected to ehair meetings of the Trustees or by any bwo Trustees. In that case not le5S th8n ten days. clear notice must be given to the other Trustees. 15.Speclal meetings A special meeting may be summoned at any time by the chair or any two Trustees upon not less than seven days, notice being given to the other Trustees of the matters to be discussed. If matlers include the appointment of a CO￿pted Twstee or a proposal lo amend any of Ihe trusts of this Deed. Ihen not less than 21 days. notic8 must be given. A special meeling may be called to take place imrnediatoly after or before an ordinary meeting. 16.Chair The Trustees at their first OTdinary meeting in each alternate year shall elect one of their number lo be chair of their meetings until the commencement of the first ordinary meeting two years18ter. The Chair shall always be eligible for re-election. The Chair shall remain elected until the twchyear period has expired unless h￿She W15hes to relinquish Ihe post. Brixron fenll¥e I'i'ust-.rtnnual SL4temonl of Ac¢ounLs 2023/24 PaKe 18 ## ## ## None of the incomg or property of the charity may be paid or Iran5ferred direcdy or indirectly by way of dividend, tsjnuo or olheofvise by way ofprofit io any charity Trustee. 30. Appropriatlon of benefrts The appropriation of the benefits of the Charity shall be made by the Trustees at meetings of their body and not separately by any individual Twslee or Trustees.. Provided that the Trustees Trom time to time may apFx>int two or more momber5 of tlieir body lo be a committee for dealing With any cases of emergency but all acts and proceedings of such mmmittees shall bo reported in due course to the Trustees. 31. Expenses of management The Trustees Shall first defray out of the ineome of the Charity the cost of maintsining the property of the Chartiy (including the repair and Insuran￿ of any buildings Ihereon) and all other charges and outgoings payable in respect thereof also to include any charges and Costs incurred in the management of the Charrty's investment portfolio and all the proper costs, eharges and expenses of ?n incidenlal to the administralion and management of the Charity. 32. Beneflts and payments to charity Trustees and Connected persons 32.1. General Provlsion$ No charity trustee or connected person may.. a) Buy or receive any goods or seNices from the charity on terms prefefentl81 to those applicable to members of tlie public" b) Soll goods, servtces or any interest in land to the chanty., c) Be employed by, OT receive any remuneralson from, the charity., d} Receive any other financial benefil from the ch8rity: Unless the payment or benefft is permilled by clause 32.2 or authorised by the court or the Charity Commission ('the ComTnission'), In this clause a "financial benefit. means a benefft, direct or indirect, which is eiiher money or has a monetary value. 322. Sc¢pe and powers ￿nn1￿Ing trustees, or cDnneet8d per50ns' benef a) A charity Trustee or connected person may receive a benefit rrom the charity in the e2pacity of a beneficiary of the charity provided that È maiority of the Trustees do not benefit in this way. b) A charity Trustee or connected person may enter into a contract for the supply of servtce5, or of goods that are supplied in connection viith the provision of services. lo the charity whore that is permitted in accordan￿ with. and subje to, the conditions in the appropriate seGtion of the Charities Act 2016. c) Subieet to c18use 32.3 a charity Trustee or connected person may provide thg charily with goods that 8re not supplied in connection with services provided to the charity by a charity Trustee or connected person. d) A charity Trustee or connected person may receive inlerest on money lent to the charity at a reason8ble and proper rate which must not be more th8n ihe Bank of England bank rale (also known as the base r8te). e) A charity Trustee or connected person may receive rent for premlses let by the Trustee or connected person to the charity. The amount of the rent and th¢ other lerms of the lèase must be reasonable and proper. The charity Trnstee concemed must withdraw from any meeting at which such a proposal or the rent or other temis of the lease are under discussion. Llrixton Fcoffee Trust- Annual Statcrn¢nt ol'Accounts 2023/24 Page 22 c) a person carrying on business in partnership with the Trustee or with any person falling within clauses 33.2{8) or 33.2(b) d) an institution which is Controlled - by the Trustoe or any connected person falling within clauses 33.2(a),33.2{b)and 33.2(c)', or by iwo or more persons Talling within clause 33.2{d)(i), when taken tOge￿er. e) A bJ)dy corporate in which - The charity Trustèo or any Connected person falling within clauses 33.2{a).33,2{b)and 33.2(c) has 8 substantial interest., or Two or more persons falling wilhin dause 33.2(e)(i) who. when taken together, have a substantial Interest. The appropriate seaions of Ilie Charities Act 2016 appty for the purpgses of intorpreting the teryns used in clause 32.2, 34. Que5tlons under Scheme Any question as the construction of this Scheme or as to the regu18rity or the validity of any acts done or about Io be done under this Scheme shall be delemined by the Commissioners upon such application made to them for the purr)ose as they think Su￿Clent. 35. Amendment of trust deed The Trustees may amend the provisions of this deed, provided thal., a) No amendment may be made to clause l (Objects}. clause 10 (Duty of care and extent of liability), ciause 28 (Application of income), clause 29 (Application of inoJme from financial investments and property) and clause 32 {benefitS and payfflents to charity tnjstees and connected per50ns). clause 36 (Dissolution) Or this clause without the prior consent in writing of the Commission.. and b) No amendment may be made that Would have the effect of making the charily cease to be a charity at law. c) No amendment may be made to 81ter the objects if the change would underrnine or work against the previous objects of the charrty. Any amendm6nt of this deed must be made by deed following a decision of the Trustees made at a special meeting. The Ttustees fflust send to the Commission a copy of the deed effecting any amendment made under this Clause Within three months of it being made. Varied from the Order of the Commissioners dated 7th February 1996. by 8 resolukn'on of the Brixton Feoffee Trustees at their meeting on 1 sl July 2019. Brixtun F¢offeL. Trust- Annuéil Sr8iement C)I'AccounL$ 2U23/24 PaEe 24 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the Trustees of Brixton Feoffee Trust on accounts for the year ended 31.0324. Chaiity No. 202604 Respective r•sponsibilities of trustees and examlner The Charily's Truslee5 ara responsible for Ihe preparatlon of the ac￿unts. The Chatrty's Trustees consider Ihat an audit 15 not required for thi$ year under section 43(2) ol the Charilie3 Act 1993 {The 1993 Acl) and that an indep@ndent examination is needed. It is my fe5ponsibilily Io-. Examine the 8ccounts under section 43 of the 1993 Act, To tollow the procedures laid dovin in the general Directions given by Ihe Charity Commission (under seclion 43{71{b) of the 1993 Act, and To slate whether pa￿'cUlar matlers have come to my attention. Basis of indèpendent examinerfs ststement My examination was carried Qut in accordance with general Directions given by the Charity Commission. An examinalion indudes a reiq&%v of the accountino fecords kept by the charity and a comparlson of the accounts presenled with those fecords. 11 also includes consider&tion of any unusu81 ilem5 or disclosures in the attounts. aftd seeking explanations from the trusiees conceming any Such matters. The Procedures undertaken do not provide all Ihe eviden￿ that would te required in an audit, and consequantly no opinion is given as lo whether the accounts pres6nl a 'true 8nd faif. view and the report is limiled to those matters sel oul In the statsment below. Indopendent examln•Vs ststement In ￿1)neti10n wilh my examinatlon. no maller has come lo my attention (oti* 1. Vthich 9lves me reasonable cause to believe that, in any rnat8ft81 respect, the fequirernenls- To keep accounting records In accordance with seclion 41 of Ihe 1993 Act: arKI To prepare accounts which accord with the accounting rec¥)rds and comply vrith the accounting requirements of the 1993 Acl have nol been met; or 2. To wl)ich, in my opinion. allents'on should be draivn in order to enable a proper understanding of the accounts to be reachèd. IPlease delei6 Ihe ￿rdS in the br8cktris if fh6y dD not apply) Fsigned Dat mA>e Relovant Pcof•5fjiO Qualificatlonls) or Addro$5 Abj Ibl3 IP< Brix(un fientTee Trust- Annual Statern¢nt ()I'ALcciunts 2023/24 Pa%e 26 DISCLOSURE Only cornplele if the examiner needs to highlight material problems Give here brief details ol any items that the examiner wishes io disdose Brixtr)ri Feoffee'l"111st- AnnuAI Siatement c)1 AccounL$ 2023/24 Page 27