## TOWN LANDS CHARITY CHEDDINGTON > Registered Charity[No. 235076] ## ANNUAL REPORT AND ACCOUNTS for the year ended 31 March 2023 Page |General Information|||1| |---|---|---|---| ||......................................||| |Trustees' Report|......................................||2| |IndependentExaminer'sReport|......................................||3| |ReceiptsandPaymentsAccount|......................................||4| |StatementofAssets and Liabilities|||5| ||......................................||| |Notes to the Accounts|......................................|6|— 7| TOWN LANDS CHARITY, CHEDDINGTON ## GENERAL INFORMATION |CharityRegistration Number:|CharityRegistration Number:|CharityRegistration Number:|235076|| |---|---|---|---|---| |Governing Instrument :|||Trust Deed dated24 May 1895|| |Trustees|:||Ex-Offcio : The Rector :|Mr. AKrauss| ||||Churchwardens :|Alan Shepheard| |||||vacant| ||||Representative :|Mrs PBanister| |||||Miss C Fee| |||||MrM Watson| |Secretary||:|MissC Fee|| |Treasurer||:|MrM Watson|| |Address :|||TheChase, Chaseside Close|| ||||Cheddington|| ||||Leighton Buzzard|| ||||Beds LU7 OSA|| |Bankers :|||BarclaysBankplc|| ||||2Market Square|| ||||Leighton Buzzard|| ||||BedsLU7 1EZ|| |Investment Advisors :|||BarclaysBank plc|| ||||Charities InvestmentTeam|| ||||1 Churchill Place|| ||||London E14 SHP|| |IndependentExaminer:|||TraceyElls|| ||||Cams Bam' Elsage Court|| ||||ChurchLane|| ||||Cheddington|| ||||Leighton Buzzard|| ||||Beds LU7ORU|| Page 1 ## TOWN LANDS CHARITY, CHEDDINGTON ## TRUSTEES' REPORT ## OBJECTS The Charity was set up by a Trust Deed dated[24] May[”395.] One-third of its net income[is] designated as[the][Church] Charity, to support the[Parish Church][ of] Cheddington;[the][other two-thirds] are designated[as the][Town Charity,][ halfof] which is utilised for the assistance of the poor and needy of[the][Parish][with][the][remainder] being[allocated][for][public][village.] purposes[within the] ## REPORTFOR THE[YEAR] |General|The Representative Trustees are appointed by the Parish Council for terms of four years.
The| |---|---| ||Trustees who served during the year are shown on page
1 ofthis report.
The Trustees met four| ||times during theyear.| |Responsibilities:|The Trustees are responsible for keeping accounting records which disclose with reasonable
amuacy the fnancial position ofthe charity and which enable them to ensure that the fnancial
statemens comply with the CharitiesActs. They are alsoresponsiblefor safeguardingthe assets 01
the charity and hence taking reasonable steps for the prevention and detection offrand and other
irregularities. Whena new trustee is required,recommendationsare soughtand the potential trustee
invited to a Tnlslee meeting.
New trustees are made aware oftheir responsibililies under the
Charities Acts by reference to material published by the Charity Commission. The Trustees have
had due regard to guidance published by the Charity Commission on publicbeneft.| |Finance:|Barclays Bank plccontinuedasinvestment advisors andmanagers duringtheyearto 3! March
2023. The Trustees continued to take an active interest in the performanceoftheportfolio of| ||investments and a representativeofthe advisors attended a video call onOctober25th,2022.| ||Based on advice f-omBarclays the investments continue to be held in the Barclays Charity Fund| ||which offers a higher return and lower fees. The Fund is categorised asmoderate risk with a 10| ||yeartime horizon.
Investment income for the year was £23,621 (2022 £21,053)and rental incomeof£1 ,800(£1,700).| ||The Trustees continued to meet valid grant requests during theyear.| |Church Charity:|£8,300 (2022: £7,800)has been donatedto St Giles Church to assist with the upkeep and operation| ||ofthe Church.| |Publicl"“‘l’oses:|A total of£10,409 (2022: £3,019) in grants has been made.
Signifcant benefciaries included| ||cotribution to restoration ofvillage green railings (£5,500), the Village Hall subsidy (£ 3,459) to
subsidise the useofthe ball by local groups and the Summer Playscheme(£1,300)| |Geller” Beneft:|Grants totalling £7,946 (2022: £8,678) were made during the year. £5,700for educational
assistance, £1,640 grant for specifcresidents‘benefts and £606being grantsfor hospital| ||transport as approved bythe Trustees.| |1‘59”“:|The Trustees have a policy ofmeeting requests for grants as far as reserves permit. Theynormally
try to carry atleastone year's average expenditure inreserves, both to meet unplanned calls on the
charity's income andto covernormalrequests when investment returns fall. As at 31 March 2023| ||cash reserves are 13.4months' average expenditure (2022: 25.6 months).| |C Fee|| |(onbehalfofthe Trustees)|| |Date: 4th May 2023|| ## INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE ## TOWN LANDS CHARITY, CHEDDINGTON > 1 report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2023 which are set out on pages 4 to 7. 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 Act'). > I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my[examination][I][ have][followed][all][the] applicable[Directions ] given by[the] Charity[Commission] under section 145(5)(b) of the Act. Independent examiner's statement > I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that[in] any material respect: > 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or > 2. the accounts do not accord with those records > 1 have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to[be] reached. / Date 28th June 2023 ...... .......................... Page[3] ## TOWN LANDS CHARITY, CHEDDINGTON ## RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31 March 2023 |||||2023|||2022| |---|---|---|---|---|---|---|---| ||Note||||||| |RECEIPTS||General
Fund|Church
Charity|Town Charity
Beneft
Public||Total
Funds|Total
Funds| |Income from investments|2|23,581|—|-|-|23,581|21,051| |Deposit accountinterest||11|-|10|20|40|2| |Grasskeep, wayleaves, etc||1,800|-|-|-|1,800|1,700| |Other income: Tax refund||-|-|-|-|-|-| |Interest received||-|-|-|-|-|-| |||25,392|-|10|20|25,421|22,753| |InvestmentSales||2,028|-|-|-|2,028|2,764| |||27,420|-|10|20|27,449|25,517| |Less: PAYMENTS|||||||| |Charitable expenditure||-|8,300|7,946|10,409|26,655|18,120| |InvestmentManagementcosts||2,347|—|-|-|2,347|2,487| |Overheads|3|301|-|—|-|301|361| |Fund prepayment||—|-|-|-|-|-| |||2,649|8,300|7,946|10,409|29,304|20,967| |InvestmentPurchases||-|-|-|-|-|-| |||2,649|8,300|7,946|10,409|29,304|20,967| |Net Receipts/(Payments) for|year|24,771|(8,300)|(7,936)|(10,390)|(1,855)|4,550| |Distributionofnet receipts||(24,900)|8,300|8,300|8,300|-|-| |Transfer between funds||-|—|-|-|-|-| |Balance brought forward||5,033|-|4,920|14,005|23,959|19,409| |Balance carried forward|6|4,904|-|5,284|11,916|£ 22,104
53 23,959
=-"————-#|| Page[4] ## TOWN LANDS CHARITY, CHEDDINGTON ## STATEMENT OF ASSETS AND LIABILITIES for the year ended 31 March 2023 |||||Notes|31/03/2023|31/03/2022| |---|---|---|---|---|---|---| |FIXED ASSETS||||||| |Land||||4|40,000|40,000| |Investments||||5|775,751|834,776| ||||||W|£874,776| |CURRENT ASSETS||||||| |Bank accounts:|Trustees|||6|4,904|5,033| ||General beneft|||6|5,284|4,920| ||Public purposes|||6|11,916|14,005| ||||||"—323—
2104|£23,959| |CURRENT LIABILITIES||||||| |Accrued charges||||7|£0|£0| |TOTAL NET ASSETS|||||£837,855|£898,735| |M Watson
,||)||||| |||)||||| |P Banister
17w:|9(“M (L)—|;|TmStees|||| Date: 4th May 2023 Page[5] TOWN LANDS CHARITY, CHEDDINGTON NOTES TO THE ACCOUNTS for the year ended[31] March[2023] ## ACCOUNTING POLICIES The accounts are prepared on a Receipts and Payments basis, so[that] they are a[record][of] money received and paid in the financial year, and amounts owing to or by[the ] Charity are[not][included][in][ the] figures.[Such ] amounts are[shown] separately[in][the][Statement][ of][ Assets and][Liabilities, which records] significant possessions[and] outstanding[liabilities][at][the][end][of][the][financial] year. The Trustees confirm that these financial statements comply with[the] legal requirements appropriate[to][small] charities. |INVESTMENT INCOME||2023||2022| |---|---|---|---|---| |Dividends and interest arising in year||23,621||21,053| ||£|23,621|£|21,053| |OVERHEADS||2023||2022| |Investment account management fees||2,347||2,609| |Insurance for feld||301||239| |Sundry Expenses||-||| ||£|2,649|£|2,848| ## LAND The Charity owns 2.3 hectares of agricultural land,[which][is][rented][for] agricultural[use.] The last professional[valuation] was[in][1999.][The Trustees reconsidered][the value][in October][2013][and decided] that a revised existing use valuation of £40,000[should][be][used][in][the][Statement][of][Assets][and] Liabilities. ## INVESTMENTS Investments are handled by Barclays Bank plc (Charities[Investment ] Team)[on][behalf][ of][the Trust.] The investmentsheld at the year-end are: |The investmentsheld at the year-end|are:|are:||| |---|---|---|---|---| ||2023||2022|| |||Market||Market| ||Cost|Value|Cost|Value| |Barclays CharityFund|679,292|775,751|681,015|834,776| ||£679,292|£775,751|£681,015|£834,776| |||||2023|2022| |---|---|---|---|---|---| |BANK ACCOUNTS|Trustees|Benefit|Public|Total|Total| |Current accounts|698|82|343|1,122|1,779| |Deposit accounts|2,642|5,202|1 1,573|19,417|20,296| |Dealing accounts|1,565|—|—|1,565|1,884| ||4,904|5,284|11,916|£ 22,104|£ 23,959| Page[6] ## TOWN LANDS CHARITY, CHEDDINGTON ## NOTES TO THE ACCOUNTS for the year ended[31] March[2023] |ACCRUED|CHARGES|2023||2022| |---|---|---|---|---| |Independent|examination fee||-|| ## TRUSTEES' EXPENSES None of the trustees received any income[from the ] charity[in][ the ] year[(2022: none).] Page[7] Independent examiner's report on the accounts CHARITY COMMISSION FOR ENGLAND AND WALES **----- Start of picture text -----**
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## Section[A] ## Independent Examiner’s Report Report to the trustees] Town Lands Trust, Cheddington members of On accounts for the year 31St March 2023 ended Charity no 235076 (if any) Set out on pages 1and2 Respective responsibilities[of] trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit[is] not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination[is] needed. > It is my responsibilityto: - examine the accounts under section 145 of the Charities Act, - 0 to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b)[of] the[Charities][Act,][and] - o to state whether particular matters have come to my attention. ## Basis of independent examiner’s statement - My examination was carried out[in] accordance with general[Directions] given by the Charity Commission. An examination includes a review[ of][ the] accounting records kept by the charity and a comparison[of][ the][accounts] presented[with] those[records.][it][ also][includes consideration][of] any[unusual] items or disclosures[in] the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do[not] provide[all] the evidence that[would] be required[in] an audit,[and] consequently no opinion[is] given as[to] whether[the] accounts present a[‘true] and fair’ view and the report is limited to those matters set out[in] the statement below. Independent In connection with my examination, no material matters have come to my examiner's statement attention which gives me cause to believe that in, any material respect,: - 0 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 concerning the[form] and content[of] accounts set[out][in][ the][Charities] (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. > I have have come across no other matters in connection with the examination to which attention should be drawn[in] this report[in] order to enable a of the accounts to be reached. proper understanding > * Please delete the words in the brackets if they do not apply. ’7 7 Date: 28th June 2023 > Signed: / %y% Name: Tracey[Els] December 2017 IER 1 Relevant professional qualification(s) or body (if any): Section[B] Cairns Barn, Elsage Court, Church Lane, Cheddington.[LU7][ORU] Address: ## Disclosure > Only complete[if] the[examiner] needs[ to][highlight][matters][of][ concern][(see][ CC32,] Independent examination[of ] charity[accounts:][directions and][guidance][for] examiners). December 2017 2 IER > Give here details of any items that the examiner wishes to disclose. December 2017 3 IER