CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 1st April 2021 To 315t March 2022 Charity name: Charity of Sidney Paige Adams for Improvement of Borough Charity registration number: 211049 Objectives and Activities SORP ieference Summary ofthe purposes of the charity as set out in its governing document Para 1.17 The annLbal income to be expended by the Mayor and Corporation of the Borough (now Town Council) ofTotnes upon such objects and in such manner for the benefit wellbeing and improvement of the said Borough or the reduction of the rates of the said Borough as shall be determined by the said Mayor and two thirds majority of the Members ofthe Cor oration. Investtnent of the Bequest and use of the income in accordance with the objectives. Management of the Totnes Civic Hall lettings to provide a Community facility with subsidised rates for local groups and charities who are providing events that are of benefit lo the commun.it The Trustees have had regard to the guidance issued by the Charity Commission on public benefi't when exerclslng their powers and duties. Summary of the main activities in relation lo those purposes for the public benefit, in particular. the activilies, projects or seNices identified in the accounts. Slatetnent confirtning whether the truslees have had regard to the guidance issued by the Charity Commission on public benefrt Para 1.17 atvJ 1.19 Para 1.18 Addltional information {optional) You ma choose to include further statements where relevant about.. SORP r8ference A grant is paid annually to Totnes Town Council towards the costs of caretakinglm8intenance and lettings administration. Grants are also made to users of the CiviG Hall by way of subsidies given on the hire costs of the TotNes Civic Hall for events that will benefft Ihe community. The grants are made up from annu81 interest received from the capital sum and the amount of any award is at the discretion of the Trustees. Par8 1.3B Policy on granl making PoliGy on social investment including program related investment Para 1.38 NIA Contribution made by volunteers NIA Par8 1,38 Other Achievements and Performance SORP reference The Trustees awarded a grant to Totnes Town Council to assist with the caretakinglmaintenance and letlings administration costs of the Totnes Civic Hall. Summary ofthe main achièvements of the charity, identifying the difference the charity's work has made to the circLtrmstances of ils beneficiaries and any wider benefits to society as a whole. Para 1.20 The Trustees has awarded designated user status to 9 local groupslchariliesl organisations giving them a 50 % discount on the hire costs of the Tolnes Civic Hall. This enables them lo pass on saving to the local community at their events and provide evenls more frequently. The cost of the subsidies is covered by the annual interest earned on the invested capital. The Trustees also offer a 50.kn discount introductory offer for new regular hirers of the hall to encourage more local groups and organisalion to offeT classes to the local community. The cost of this subsidy is to be covered by the annual interest earned on the invested capital. The Hall has received a National Lottery Granl to install automatic doors at the disabled entrance and to the disabled toilet to make the hall more inclusive. A grant was also received to install an aulomalic drorKiown projector screen and new projector to make the hall more attractive as a hire venue. Addltlonal information loptionall You ma choose to include further statements where relevant about.. Expenditure on the Civic Hall is in accordance with the original bequest. The Town Council is the town's local authori Achievements against ectives set Para 1.41 and the money is therefore spent on the immediate area for the benefit of residents. Performance of fundraising activities against objeGtives set There are no objectives relating lo fundraising and no fundraising activities are undertaken other than managing the letlings of the Civic Hall. Para 1.41 Inveslment performance against objectives Paia 1,41 No objectives have been set in relation to investment performance. Other Financial Review Review of the charity's financial position at the end of the period Para 1.21 The charity's financial position is good with a closing current account balance of £183523. The accounts for the year show a small net loss of £110. £13072 of the income received in the year was from the Governmenl COVID Fund awaTded to cover the loss of income arising from the compulsory closure of the Civic Hall during the COVID pandemic. statement explaining the policy for holding reserves stating why they are held Para 1.22 The original Bequest has been determined as £50000. The Trustees take the view thal the remaining value of the Fund is available to use for the objectives as detailed in the Will, as accumulated income. Amount of reserves held Pate 1.22 The closing current accounl balance is £183523.21. The Trustees do not have an agreed polScy on reserves but simply retain sufficient funds lo be able lo meet any future commTtments. Reasons for holding zero reseNes Details of fund materially in defiGIt Explanation of any uncertainties about the charity continuing as a going concei Para 1.22 NIA Para 1.24 NIA Para 1.TJ There are no uncertainties about the Gharity conlinuing as a going cOn￿rn. Addltional Information loptionall You ma choose lo include further statements where relevaTIt about.. The principal funds are from the invested capital sum and income from use of the Civic Hall asset, a coinmunity hall. The charity's princSpal sources of funds (including any fundraising) Para 1.47 The Trustees have a caulious allilude to investment risk in the immediate term and a moderately adventurous attitude in the short, medium and long temi. They have selected the CCLA Charities Ethical Investment Fund to invest the capital funds because it follows an Ethical and Responsible Policy. Investment policy and objectives including any social investment policy adopted para f.46 The only risks facing the charity are those associated with the investment of the capital funds which are considered to be low. Any reduction in income from the Civic Hall would be accompanied by a reduction in running costs and therefore a reduction of the grant paid to Totnes Town Council. A description of the principal risks facing the charity Paia 1,46 other Structure, Governance and Management Description of charity's trusts.. Type of governing document Ill Iisl cloeè.. roii&l cliarlei-l How is the charity constituted? (e.g uninco¥por(Iled association, CIO Trustee seleGlion methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled lo appoint one or more trustees Para 1.25 Trust deed P81a 1.25 Charitable Trust Para 1.25 All serving Totnes Town Councillors are automatically appointed as Trustees, Additional information (optional) You ma choose lo include further statements where relevant about.. Policies and procedures adopted for the induction and training of trustee8 Para 1.51 The charity's organisational structure and any wider network with which the charity works Para 1.51 Relationship with any Telated parties Para 1,51 Other Reference and Administrative details Charit nam& other name the chari uses istered charit number Charity's principal add￿sS Charil of Sidne Pai Pai e Adams Trust 211049 The Guildhall Offices, 5 Ramparts Walk, Totnes. TQ9 5QH eAdams for Im rovement of Borou Names of the charity trustees who manage the charity Dates aetsd If not for whole ar Tw8t8è name OlllcB Ilf anyl Namo of person lor body) entitled toa oint trust8& Ifan Marion Adams Town Councillor Town Councillor Town Councillor Town Councillor Town Councillor Town Councillor Philip Paine Ben Piper Jacqi Hodgson Ray Hendriksen Emily Price Georgina Allen Louise Webberley Colin Luker Town Councillor Town Councillor Town Councillor 0114121 2218121 10 11 12 David Matthews Town Councillor 0114121 1912122 Claire Allford Town Councillor 0114121- 2217121 Victoria Trow Town Councillor Town Councillor Town Councillor Town Councillor Town Councillor 13 Sarah Skinner Paul Allford 14 0114121- 2217121 0114121 1218121 15 Allegra Galvin Sarah Collinson 16 17 Arny Oliver Niall Stopp Jill Hannam Town Councillor 21110121-3113122 18 Towrn Councillor Town Councillor 21110121 3113122 19 15111121 3113122 20 John Cummings Town Councillor 15111121 3113122 21 Cor orate trustees - nameg of the directors at the date the re Director name ortwasa roved Name of trustees holding tllle to property belonging to the charity Trustee name Date5 acted If not forwholg oar Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects of the charily on whose behalf the assets are held and how this falls within Ihe custodian charity's objects Details of arrangements for safe custody and segregation of such assets from the charity's own assets Additional Information loptionall Narnes and addresses of advisers (Optional informatlonl Type of Name Address adviser Name of chlef executive or names of senior staff members (Optional Informatlon) Exemptions from disclosure Reason for non4isclosure of ke ersonnel details Other optional infomiation Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trusteeg Slgnature{sl Full name(sl Posltion leg Secretary, Chair, etc) Catherine Marlton Secretary Date 1slq12 ## **Paige Adams Bequest Charity** ## **Summary Receipts and Payment account for 2021-22** |Receipts
Investment Income
Hirings
Banner advertisements
Grants received
**Total**
Payments
Grants
Administrative Expenditure
Misc Expenses - lottery funded maint. work
Bank Charges
Legal & Professional Fees
**Total**
**Profit/Loss**
**Balances brought forward 31/3/2021**
**Balances carried forward at 31/3/2022 (i.e. o/bal plus in-year movement)**
**These funds are represented by cash at bank, as reconciled below**
**Bank Reconciliation**
**Balances as at 31st March 2022:-**
Current
**Total bank balances**|7448.60
17184.74
135.00
13072.00| |---|---| ||**37840.34**| ||0.00
30000.00
7577.50
97.30
276.00| ||**37950.80**| ||**-110.46**| ||**183633.67**
**183523.21**
183523.21| ||**183523.21**| ||| Additionally, the Charity has Investment funds with CCLA valued at £261971.81 as at 31st March 2022.. Independent examiner's report on the accounts Section A Independent Examlner's Report Report to the trusteesl members of Paige Adams Bequest On accounts for the year ended 3181 March 2022 Charity no {if any) 211049 Set out on page Respective The charity's trustees are resporEsible for the preparalion of the accounts. responsibilities of The charity's trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts undér section 145 of the Charities Act, to follow the pro￿dUreS laid down in Ehé general DireGtions given by the Charity Commission (under section 14515)Ib} of the Charities Act, and to stale whether particular matters have come to my attenlion. Basis of Independent My examination was carried out in accordan￿ with general Direction8 given examiner's statement by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the acGounls presented with those records. It also includes consideration of any unusual items or disclosures in the acGounts, and seeking explanations from the Iruslees concerning any such matters. The procedures undertaken do not provide all the evidenc8 that would be required in an audit, and consequently no opinion is given as to whether the accounts present a Irue and fair, view and the report is limited to those matters sel out in the statement below. Independont In connection with my examination, no matter has come to my attention examiners statement 1. which gives me reasonable cause to believe that in. any material respeGt, the requirements.. to keep accounting records in accordance with section 130 of the Charities Act., and to prepare accounts whi¢h accord with the accounting records and comply with the arcounting requirements of the Charltles Act have not been met., or in my opinion, attention should be drawn in order to enable a nd standing of the accounts lo be reached. pro Signed: Date: 261h May 2022 Name: S'J Pollard for Auditing Solutions Ltd Relevant professional qualificationl5} or body lif any): Nla Address2 Clackerbrook Farm.46 The Common, Bromham, Wilts SNI 5 2JJ IER March 2012 Section B Disclosure Only complete if the examiner need5 to highlight material problems. No i8sues Glve here br(ef detsi18 of any itsms that the examlnerwlshes to dls¢lose. IER March 2012