## **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
desed-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):
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Address:
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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.