## **SAINT PETROX TRUST LANDS** ## **Registered Charity No: 230593.** Annual Report of the Trustees of the Saint Petrox Trust Lands for the year ended 31st March, 2026. ## **The Scheme** In the matter of the of Charity known as the Trust Lands, in the Ancient Parish of St. Petrox, Dartmouth, in the County Devon, comprised in a Scheme of the Charity Commissioners of 28th August, 1906, and in the matter of the Charities Act, 1960. The Charity Commissioners for England and Wales approved and established the Scheme for the regulation of the abovementioned Charity. Under the power given in the Charities Act 1993 the Charity Commissioners for England and Wales approved an Order dated 30th April, 2003, to alter or affect the governing document of the charity known as Saint Petrox Trust Lands (230593) at Dartmouth, Devon. A copy of the full details of the Scheme is available from the Clerk/Treasurer. **The Trustees** The Trustees during the period of the Report were: Mrs Nicolette Coward, MBE. Mr Barrie French. Mr David Gent. Mrs Lesley Hodge. Mrs Kate Ryder. Councillor Dawn Shepherd. Mr Robin Springett. Councillor Graham Webb. ## **The Clerk/Treasurer** The Clerk/Treasurer during the period of the Report was: Hilary D. Bastone, FCIB, FFA, FIPA, FIAB, MCMI, FBII, FRSA, 15A, Mount Boone, DARTMOUTH, Devon. TQ6 9PB. Telephone: (01803) 835455. Email: hilarybastone@hotmail.co.uk ## **Independent Examiner of Accounts** D.M. Callard Accountancy Services, 8, Seale Close, Dartmouth, Devon. TQ6 9TB. ## **Bankers** Lloyds Bank Plc, Newton Abbot (309869) Branch, PO Box 1000, BX1 1LT. ## **Solicitor** Wollens, The Harbour Side at, 67, The Terrace, Torquay, Devon. TQ1 1DP. ## **Finance** ## (a) Income. Income for the year totalled £96,505 (2025 = £96,006) ## (b) Expenditure. Expenditure for the year totalled £146,985 (2025 - £53,102) ## (c) Surplus/Deficit. The deficit for the year was £50,480 (2025 - £42,904 surplus) ## (d) Investments. As at the 31st March, 2023, the Trust's investments were: Current Account £15,855 (2025 - £75,678) Deposit Accounts £212,802 (2025 - £203,459) Shares in the Charities Official Investment Fund £56,020 (Market value - £464,328) (2025 - Market value - £424,742) Properties £483,644 (For an approximate Market Value - See (i) Freehold property values) ## (e) The General Charitable Purposes Scheme. The General Charitable Purposes Scheme stands at £550,794 (2025 - £615,673) following distributions of £94,605 (2025 - £30,866) during the year. ## (f) The Ancient Buildings Scheme. The Ancient Buildings Scheme stands at £219,557 (2025 - £204,694 following no grants (2025 - £nil) during the year. ## (g) Property. The Trust's properties are at Stapledon House, 15, South Town, Dartmouth (Four apartments); Island House, Lower Street, Dartmouth (Five apartments and a shop); and the conduit at Bayards Cove. The Trustees have over the past thirty years invested wisely in the repair and maintenance of the Trust's aging properties. They are now of a good standard. The Trustees carry out an annual detailed inspection of the Trust's properties. ## (h) Assets. The total book value of the assets of the Trust stand at £820367 (2024 - £777,705). However, this sum does not reflect current market values of the Trust's investments and properties which are much greater than the book value. ## (i) Freehold property values. In November, 2005, the freehold properties were revalued for insurance purposes by external valuers, Scorer Property Services Limited. The Trust's properties were given a market value in accordance with the Royal Institute of Chartered Surveyors Appraisal and Valuation manual of £1,765,000 - Island House £1,120,000 and Stapledon House £645,000. A revaluation of Stapledon House was undertaken in 2012 and Scorer Property Services Limited advised a market value of £795,000. Further works have been carried out on the Trust’s properties in the intervening period which have been capitalised. The current book value of the Trust's properties is £483,644 (2025 - £483,644). At the end of 2020 the Trustees requested that Irvine Nott LLP undertake a full buildings survey including the sea wall at Island House. This led to a request for a fresh insurance valuation for Island House which Irvine Nott LLP set at £1,970,000. Current indexed property insurance cover to the sum of £5,771,665 is held for the two properties. Island House £3,997,592 and Stapledon House £1,774,083. ## (j) Future liabilities. In accordance with the Trust's Scheme the Trustees are committed to applying income from the Ancient Buildings Scheme towards defraying the cost of the repair or restoration of buildings situate in the Parish of Dartmouth which are of historical or architectural interest and open to public inspection and of ancient conduits situate in the said area. However, substantial grants in recent years have depleted the fund to almost the reserve figure. As at the 31st March, 2025, the Trustees had no outstanding commitments. Under the General Charitable Purposes Scheme the Trustees have no outstanding commitments. ## **Reserves Policy** The reserve for maintenance of properties and flat refurbishment has been maintained at £150,000. The reserve for distributions for the relief of the poor and public purposes and grants for ancient buildings has been maintained at £90,000. ## **Risk Management** The Trustees have considered the major risks to which the charity is exposed and are continually reviewing those risks. The Trustees have established systems and procedures to manage those risks. The Trust has in place an Independent Examiner of Accounts; undertakes on a regular basis an independent fire risk assessment; has fire alarm systems installed; maintains its properties to a good standard; has an alarm line facility available to tenants; ensures that all electrical work is certificated by ELECSA; reviews on a regular basis its investments; reviews its rentals annually; and reviews its reserves policy annually. The Trustees hold quarterly meetings in order to monitor and manage the Trust. Following the horrific fire at Grenfell Tower the Trustees asked their fire risk assessor to investigate the possible installation of a sprinkler system at both Island House and Stapledon House but this was not considered applicable. However, The Trustees have requested regular inspections from the Environmental Health Officer of South Hams District Council under the House of Multiple Occupation regulations. During the year ended 31[st] March, 2025, the Trustees have continued to invest in fire prevention. In recent years the Trustees have also undertaken an asbestos survey and rectification on its properties; have requested a flood risk assessment on Island House; and as part of a climate change programme sought planning advice on the installation of solar panels. ## **Conclusion** The Trustees continue to manage the Trust's asset portfolio with considerable success. The Trust also continues its support for ancient buildings such as St Petrox Church, St Saviour’s Church and St Clement's Church as and when necessary. The Trustees have made strenuous efforts to target those in need with distributions for the relief of the poor and public purposes. They have not been entirely successful in these times of the Welfare State but have continued to seek out the needy within the boundaries of the Parish of Dartmouth, particularly within the Ancient Parish of St Petrox, and have forged links with Dartmouth Caring, Dartmouth Community Chest, Dartmouth Food Bank, Flavel Pantry, Citizens Advice, Westcountry Housing and LiveWest. * * * * * St Petrox Trust Lands Accounts for the year ended 31st March 2026 St Petrox Trut land Chaiity Inforniation ChAlryerson: S Ryder Trustees: D Gent L Hodge S Ryder R Springett B French Cllr. D Sheplwd G Webb {Ap￿)illted 08107ll5) ChArlty Dumb¢r. 230593 Ckrkrrreajurer. H Bastone 15A Mount Boone Darlmouth Devon TQ6 9PB IDdep¢nd¢Dt esamlner: D M Callard A¢￿untan¢Y Servi¢es 8 Seale Clost tkvon TQ6 9TB Bankers: Lloyds plc 39 Fore Street Totnes Devon TQ9 SHH St Petrox Tn￿t lands Contents IndeEKndent Examiner's report Page I Receipts and Payments Aeeount Page 2 Statement of Asscts and Liabilities Page 3 Independent Ewninerfs Report to the Trw5tees of St Petrox Trust IAnd$ I report on the accounts of the Charity, for the y¢ar ended 31. March 2026. vknith are set out on pages 2 to 5. ReJpeclive rejponslbllltks of trustees examiner The Charity's Trustees are resp)nsible for the preparation of the xcounts. The Clwity's Tr￿ consider that an audit is not required for thks year under section 144 of the Charities Act 2011, (the Charities Act), and that an It is my resp)nsibiltty to: examine the accounts under section 145 of the Charities ACL. to follow the procedures laid down in the genernl DI￿￿On$ given by the Charity Conllnissio￿ (under 8e¢tion 145(5)0)) of the Charities Act): and to state whether particular nmtters bave ￿me lo my attentio Bajij of independent ex￿Iller'S report My examination was carried out in acwrdance with general directi0Th8 8iven by the Charity Commission. An examination includes a review of the accounting records kept by the Charity 8nd a comparison of the accounts presented with those records. It also includes conSide￿10n of any unusual items or di￿losure5 in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertsk¢n do not provide all the evidence that would k required in an audit and, consequently, no opinion Is given as to whether the accounts present a 'trne and fair. view and the re￿)rt is limited to those matters set out in the statement below. Independent examlner's 8tat¢m¢Dt In connection with my ¢xaminatiofy no matter has ¢om¢ to my attention: (l) which gives me reasonable cause to believe that any materlal respecL the ryuirements: o to keep accounting records in a￿rdall¢¢ with ￿tIOn 130 of the Charities Act; and o to prepare accounts which accord with the accounting rerA)rds and eomply with the acwunting requirements of the Charities Act have not been met. (2) to which. in my opinioffj attention should be drnW￿ in order to enable a proper und¢rstandthg of the a￿ounts to b¢ rcack D M Callard D M Callard Accountancy SeThices 8 Seale Close Dartmouth Devon TQ6 9TB Page I St Petrox Trust lands Reeelpts and Payments A¢¢ount General Fund for th¢ year ¢nded 311t March 2026 2026 2025 Intsrestldividends rtteived from investments: Deposit accounts Shares in Chariti¢$ Official Investment Fw 8.043 13.643 9.350 13245 21.686 22,595 Rents received: Island House and stspledon House 73.519 71,771 Other incorne: Donations - S￿li0$1s SOS Miscellaneous 1,300 1,600 40 Totsl receipts 96.505 96,006 Expenditure: Repairs and maintenan¢e of properties Distributions and grants Clerk's fees Insurance Profession￿ fees Independent examiner's fees Printing, postag¢. stationery and advertising Electricity and g&8 Sundry expenses and software Bank ¢har8es 36.545 94,605 7.797 30,866 7,750 5.163 5,860 360 550 55 1.102 550 81 800 95 Totsl payments 146,985 53,102 Net (paym¢ntsyr¢e¢lpts for the year (50.480) 42,904 Bank bala￿e8 at i¥1 April 2025 279,137 236,233 Bank balaDeeJ at 3101 Mareh 2026 £ 228,657 £279,137 Page 2 St Petrox Trn8t Lands Statement of Assets Liabilities at 3111 Mareh 2026 2026 2025 Monetary a8$ets (G¢n¢r•l tsnd) Bank balances £ 228.657 £ 279,137 Debtors and prepayments (General hnd) Accrued rents receivable Propety insurances paid in advanL 550 2,196 2.580 £ 2,580 £ 2.746 Creditors {GenerAI fund) Advanced rents received Independent examiner's fees 630 550 550 £ 550 £ 1,180 Investment properties Island House and Stapledon House at cost £ 483.644 £ 483,644 Inve8tment8 Shares in Charities Official Investment fund at cost 56,020 56,020 Unreakised appreciation 368,722 408.308 Market value at 314t March 2026 £ 424.742 £ 464,328 S Ryder (Mrs) Trusteelchairperson H D B&ston¢ Page 3