## TOWN LANDS CHARITY CHEDDINGTON ## RegisteredCharity[No. 235076] ANNUAL REPORT AND ACCOUNTS for the year ended 31 March 2024 Page |General Information|| |---|---| ||......................................| |Trustees' Report|......................................| |IndependentExaminer'sReport|......................................| |ReceiptsandPayments Account|......................................| |StatementofAssets and Liabilities|| ||......................................| |Notes to the Accounts|......................................| TOWN LANDS CHARITY, CHEDDINGTON ## GENERAL INFORMATION |CharityRegistration Number:|235076|| |---|---|---| |Governing Instrument :|Trust Deed dated24May1895|| |Trustees :|Ex—Offcio
: The Rector :|Mr A Krauss| ||Churchwardens :|Mr A Shepheard| |||vacant| ||Representative :|Mrs P Banister| |||MissCFee| |||Mr M Watson| |Secretary :|MissC Fee|| |Treasurer :|MrM Watson|| |Address :|The Chase, Chaseside Close|| ||Cheddington|| ||LeightonBuzzard|| ||Beds LU7 OSA|| |Bankers :|BarclaysBank plc|| ||2Market Square|| ||Leighton Buzzard|| ||BedsLU7 1EZ|| |Investment Advisors :|BarclaysBank plc|| ||Charities InvestmentTeam|| ||1 Churchill Place|| ||London E14SHP|| |IndependentExaminer:|TraceyElls|| ||Cams Bam' Elsage Court|| ||Church Lane|| ||Cheddington|| ||LeightonBuzzard|| ||Beds LU7ORU|| Page[1] ## TOWN LANDS CHARITY, CHEDDINGTON ## TRUSTEES' REPORT ## OBJECTS The Charity was set up by a Trust Deed dated 24 May[1895.][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] purposes[within the village.] ## REPORT FOR 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 the year.| |Responsibilities:|The Trustees are responsible for keeping accounting records which disclose with reasonable
accuracy the fnancial position ofthe charity and which enable them to ensure that the fnancial
statements comply with theCharities Acts. They are alsoresponsible for safeguarding the assets 01
the charity and hence taking reasonable steps for the prevention and detection offraud and other
irregularities. Whena newtrustee is required,recommendations are sought and the potential trustee
invited to a Trustee meeting.
New trustees are made aware of their responsibilities under the
Charities Acts by reference to material published by the Charity Commission. The Trustees have
had due regard to guidance published by the CharityCommissionon publicbeneft.| |Finance:|BarclaysBankplccontinuedasinvestment advisors andmanagersduring theyearto 31 March
2024. The Trustees continued to take an activeinterest in theperformance ofthe portfolio of| ||investments and a representativeofthe advisorsattendedavideo callonNovember 22nd, 2023.
Based on advice from Barclays the investmentscontinuetobe held in theBarclaysCharity Fund
which offersahigher return and lower fees. The Fund is categorisedas moderate risk with a 10| ||yeartime horizon.
Investment income for the year was £24,434 (2023 £23,621)and rental incomeof£1,800 (£1,700).
The Trustees continued to meet valid grant requests duringtheyear.| |Church Charity:|£6500(2023: £8,300) has been donated to St Giles Church to assist with the upkeep and operation| ||ofthe Church.| |Public Purposes:|A total of £10,638 (2023 10,409) in grants has been made.
Signifcant benefciaries included
cotribution to restoration ofScout Hut(£5,000), the Village Hall subsidy (£ 3,873)to subsidise the| ||useof the hallbylocalgroupsand the Methodist Church WIndows repair (£1,430).| |GeneralBeneft:|Grants totalling £7,837 (2023: £7,946) weremadeduringtheyear. £7,050for educational| ||assistance, £787 being grantsforhospital transport as approvedby the Trustees.| Reserves: The Trustees have a policy of meeting requests[for ] grants as[far][as] reserves permit.[They normally][calls on the] try[to] carry[at least ] one year's average[expenditure in reserves, both to meet unplanned] charity's[income][and ] to cover[normal ] requests[when][investment returns][fall.][As][at][31][March 2024] cash reserves are 14.0[months‘] average expenditure (2023:[13.4][ months).] > C Fee (on[behalf] of[the ] Trustees) Date:[3] lst March 2024 55w][:] QEL ambit”[QC’ZLI‘] ‘ Qy’ Page[2] ## Independent examiner's report on the accounts ## CHARITY COMMISSION FOR ENGLAND AND WALES ||Section A|Independent Examiner‘sReport|| |---|---|---|---| |||Report to the trustees!
Town Lands Trust, Cheddington
membersof .
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ended|31“ March 2024
Charity no
235076
(Ifany)|| ||Set out on pages|1 to 7|| ||Respective
responsibilities of
trusteesand examiner|The charity's trustees areresponsible forthepreparation of the accounts.
The charity’strustees considerthat anaudit is not required for thisyear
undersection 144 oftheCharities Act 2011 (the Charities Act) and that an|| |||independent examination isneeded.|| |||Itis my responsibility to:|| |||.
examinethe accountsunder section 145 oftheCharities Act,|| |||0
to followthe procedureslaid down in the general Directions given bythe
Charity Commission (under section 145(5)(b) oftheCharities Act,and|| |||.
tostatewhether particular matters have cometo my attention.|| ||Basis of independent
examiner’s statement|Myexamination wascarried out inaccordancewith general Directions given
bytheCharity Commission. An examination includes areview ofthe|| |||accounting records kept bythecharity and acomparison of the accounts|| |||presented with those records.
Italso includes consideration of any unusual
items or disclosures in the accounts,andseeking explanations fromthe|| |||trusteesconcerning anysuchmatters. The proceduresundertaken do not
provide allthe evidencethat wouldberequired inanaudit,and|| |||consequentlyno opinion is givenasto whether the accountspresent a ‘tme
and fair’view and thereport is limitedtothosematters setout inthe|| |||statementbelow.|| ||Independent
examiner's statement|Inconnection with my examination, no material matters havecome to my
attention which gives me causeto believe thatin, any material respect:|| |||0
theaccounting records werenot kept inaccordancewith section 130|| |||oftheCharities Act; or|| |||o
the accountsdid not accord withtheaccounting records; or|| |||o
the accountsdid not comply withtheapplicable requirements
concerning the formand content ofaccountssetout in the Charities|| |||(Accounts and Reports) Regulations 2008 otherthanany requirement
that the accountsgivea ‘trueandfair’ view which is notamatter
consideredas part ofan independentexamination.|| i IER > I have have come across no other matters in connection with the examination to which attention should be drawn in this report in orderto enable a proper understanding of the accountsto be reached. ' Please dele he words in the bracketsifthey do not apply. Signed: Date: 91" August720274fl , , {For-Imam: Superscript Name: Tracey Els I > 1 December 201 7 Relevant professionaI qualification(s)or body (If any): Address: Cairns Barn, Elsage Court, Church Lane, Cheddington.[LU7][ORU] 8 Disclosure Section 8 Only complete[if] the[examiner] needs[to] highlight[matters][of concern] (see[0032,] independent[examination][of ] charity[accounts:][directions][and] guidance[for] examiners). December 2017 IER ## TOWN LANDS CHARITY, CHEDDINGTON ## RECEIPTS AND PAYMENTS ACCOUNT for the year ended[31] March 2024 |||||2024|||2023| |---|---|---|---|---|---|---|---| ||Note||||||| |||General|Church|Town Charity||Total|Total| |RECEIPTS||Fund|Charity|Benefit|Public|Funds|Funds| |Income from investments|2|24,233|-|-|-|24,233|23,581| |Deposit accountinterest||55|-|55|91|201|40| |Grasskeep, wayleaves, etc||1,800|-|-|-|1,800|1,800| |Other income: Tax refund||-|-|-|-|—|-| |Interest received||-|-|-|-|-|.| |||26,088|-|55|91|26,234|25,421| |InvestmentSales||2,360|-|-|-|2,360|2,028| |||28,448|-|55|91|28,594|27,449| |Less: PAYMENTS|||||||| |Charitable expenditure||-|6,500|7,837|10,638|24,976|26,655| |InvestmentManagementcosts||2,340|—|—|-|2,340|2,347| |Overheads|3|805|-|-|-|805|301| |Fund prepayment||-|-|-|-|-|-| |||3,145|6,500|7,837|10,638|28,121|29,304| |InvestmentPurchases||—|-|.|-|-|-| |||3,145|6,500|7,837|10,638|28,121|29,304| |Net Receipts/(Payments) for|year|25,303|(6,500)|(7,782)|(10,547)|473|(1,855)| |Distributionofnet receipts||(19,500)|6,500|6,500|6,500|-|-| |Transfer between funds||-|-|-|-|-|-| |Balance brought forward||4,904|-|5,284|11,916|22,104|23,959| |Balancecarried forward|6|10,707|-|4,001|7,868|£ 22,577
m|£ 22,104
__.'—‘_—'.——=| Page[4] ## TOWN LANDS CHARITY, CHEDDINGTON > STATEMENT OF ASSETS AND LIABILITIES for the year ended[31] March[2024] **----- Start of picture text -----**
Notes 31/03/2024 31/03/2023
FIXED ASSETS
Land 40,000 40,000
Investments 827,081 775,751
£867,081 £815,751
===
CURRENT ASSETS m
Bank accounts: Trustees 10,708 4,904
General benefit O\ 4,002 5,284
Public purposes 7,868 11,916
£22,57 [8] £22: [104]
CURRENT LIABILITIES
Accrued charges £0 £0
TOTAL NET ASSETS £889,659
== Mi:
M Watson
Pat amt-2, Trustees
P Banister
**----- End of picture text -----**
Date: 3[1] st March 2024 5'5”! qu edit!)[20][ 1““] Page[5] TOWN LANDS CHARITY,[CHEDDINGTON] ## NOTES TO THE ACCOUNTS for the year ended[31] March[2024] ## 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|2024|2023| |---|---|---| |Dividends and interest arising in year|24,434|23,621| ||£ 24,434
m|£ 23,621
m| |OVERHEADS|2024|2023| |Investment account management fees|2,340|2,347| |Insurance for feld
Sundry Expenses
LAND|320
301
485
-
£
3 145
£
2 649
##|| 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 ye|ar-endare:|||||| |---|---|---|---|---|---|---| |||2024||2023||| ||||Market||Market|| |||Cost|Value|Cost||Value| |Barclays CharityFund||677,253|827,081|679,292||775,751| |||£677,253|£827,081|£679,292|£775,751|| |||||2024||2023| |BANK ACCOUNTS|Trustees|Beneft|Public|Total||Total| |Current accounts|993|215|254|1,462||1,122| |Deposit accounts|8,130|3,787|7,614|19,531||19,417| |Dealing accounts|1,585|-|-|1,585||1,565| ||10,708|4,002|7,868|£ 22,578|£|22,104| Page[6] ## TOWN LANDS CHARITY, CHEDDINGTON ## NOTES TO THE ACCOUNTS for the year ended[31] March 2024 |ACCRUED|CHARGES|2024||2023| |---|---|---|---|---| |Independent|examination fee||-|| ## TRUSTEES' EXPENSES None of the trustees received any income from the charity[in][ the ] year (2023: none). Page[7]