2025-03-31-accounts

Trustees’ Annual Report for the period

From 1[st] April 2024 To 31[st] March 2025

Charity name: Charity of Sidney Paige Adams for Improvement of Borough

Charity registration number: 211049

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The annual income to be expended by the Mayor and Corporation of the Borough (now Town Council) of Totnes 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 of the Corporation.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Investment 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 to the community.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees have had regard to the guidance issued by the Charity Commission on public benefit when exercising their powers and duties.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38	A grant is paid annually to Totnes Town Council towards the costs of caretaking/maintenance and lettings administration. Grants are also made to users of the Civic Hall by way of subsidies given on the hire costs of the Totnes Civic Hall for events that will benefit the community. All grants made by the Trust are made up from annual interest received from the capital sum and the amount of any award is at the discretion of the Trustees.

Policy on social investment including program related investment	Para 1.38	N/A
Contribution made by volunteers	Para 1.38	N/A
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The Trustees awarded one grant of £35,000 to Totnes Town Council to assist with the caretaking/maintenance and lettings administration costs of the Totnes Civic Hall. The Trustees have awarded designated user status to 7 local groups/charities/ organisations giving them a 50% discount on the hire costs of the Totnes Civic Hall. This enables them to pass on saving to the local community at their events and provide events more frequently. The cost of the subsidies is covered by the annual interest earned on the invested capital. The Trustees also offer a 50% discount introductory offer for new regular hirers of the hall to encourage more local groups and organisation to offer classes to the local community. The cost of this subsidy is to be covered by the annual interest earned on the invested capital.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41	Expenditure on the Civic Hall is in accordance with the original bequest. The Town Council is the town’s local authority and the money is therefore spent on the immediate area for the benefit of residents.
Performance of fundraising activities against objectives set	Para 1.41	There are no objectives relating to fundraising and no fundraising activities are undertaken other than managing the lettings of the Civic Hall.
Investment performance against objectives	Para 1.41	No objectives have been set in relation to investment performance.

Other

Financial Review

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 £50440. The accounts for the year show a net profit of £8854.
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 that 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	Para 1.22	The closing current account balance is £50440.81. The Trustees do not have an agreed policy on reserves but simply retain sufficient funds to be able to meet any future commitments.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	There are no uncertainties about the charity continuing as a going concern.

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	The principal funds are from the invested capital sum and income from use of the Civic Hall asset, a community hall.
Investment policy and objectives including any social investment policy adopted	Para 1.46	The Trustees have a cautious attitude to investment risk in the immediate term and a moderately adventurous attitude in the short, medium and long term. They have selected the CCLA Charities Ethical Investment Fund to invest the capital funds because it follows an Ethical and Responsible Policy.
A description of the principal risks facing the charity	Para 1.46	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. Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Trust deed
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Charitable Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	All serving Totnes Town Councillors are automatically appointed as Trustees.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider network with which the charity works Para 1.51 Para 1.51 Relationship with any related parties Other

Reference and Administrative details

Charity name	Charity of Sidney Paige Adams for Improvement of Borough
Other name the charity uses	Paige Adams Trust
Registered charity number	211049

The Guildhall Offices, 5 Ramparts Walk, Totnes, TQ9 5QH

Charity’s principal address

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16	Trustee name	Office (if any)	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Jacqi Hodgson	Town Councillor
	EmilyPrice	Town Councillor
	John Cummings	Town Councillor
	Jill Hannam	Town Councillor
	Sarah Collinson	Town Councillor
	Darren Peters	Town Councillor
	Lisa Smallridge	Town Councillor
	Tim Bennett	Town Councillor
	Luisa Auletta	Town Councillor
	Tom Cooper	Town Councillor
	Anna Presswell	Town Councillor
	Chris Beavis	Town Councillor
	Jeff Chinnock	Town Councillor
	Nick Roberts	Town Councillor
	Tobias Robshaw	Town Councillor	10/6/24 – 31/3/25
	Matthew Trant	Town Councillor	20/6/24 – 31/3/25

– Corporate trustees names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets

from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

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

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Catherine Marlton Position (eg Secretary, Secretary Chair, etc)

Date

Paige Adams Bequest Charity

Summary Receipts and Payment account for 2024-25

Receipts Investment Income Hirings Markets Banner advertisements Total Payments Administrative Expenditure Misc Expenses Market expenses Bank Charges Legal & Professional Fees Total Profit/Loss Balances brought forward 31/3/2024 Balances carried forward at 31/3/2025 (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 2025:- Current Total bank balances	7748.66 33718.92 2700.00 0.00
	44167.58
	35000.00 0.00 0.00 113.29 200.00
	35313.29
	8854.29
	41586.52 50440.81 50440.81
	50440.81

Additionally, the Charity has Investment funds with CCLA valued at £261768.82 as at 31st March 2025.

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Sectlon A Independent Examiner's Report Report to the trustees Charity of Sidney Paige Adams On accounts for the year ended 31, March 2025 Charity no lif any) 211049 Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust.) for the year ended 3110312024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Acl"}. I report in respect of my examination of the Trusl's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by Ihe Charity Commission under section 145(5llb) of the Act. Independent I have completed my examination. I confimi that no malerial mallers have examiner's statement come to my attention in connection with the examination {ot*#wtrt.hat d￿esed-beloW.I which gives me cause to believe Ihal in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act.. or the accounts did not accord with the accounting records", or the accounts did not comply with the applicable requirements oncerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which allention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Slgned: Date: 22- 0'7- Zoi.-£ Name., Relevant professional qualification{sl or body lif any): McMf.Erf of Cci)L)INrfi ki IIIL ASSoQiq ) lotyj i&HKJIct.PKtJ Address: 21 NJL%K) PQiaK Iklyc (IIlXTh eLz LLL IvtlLL,

Section B Dlsclosure Only complete if Ihe examiner needs lo highlight material matters of conc8rn (see CC32, Independent examination of charity accounts. directions and guidance for examiners), Give here brief details of any items that the examiner wishes to disclose.