Charity No: 235578
ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY
ANNUAL REPORT AND ACCOUNTS
YEAR ENDED 31 DECEMBER 2024
ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Receipts and payments account | 3 |
| Statement of assets and liabilities | 4 |
| Notes to the accounts | 5 - 6 |
ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Ilchester Relief in Need and Educational Charity is a registered charity No 2235578. Its address is c/o Mrs K Elston, Clerk to the Trustees, 15 Chilton Grove, Yeovil, Somerset BA21 4AN. Mrs Elston is the only employee (part-time) of the charity. The charity is regulated by a scheme set up by the Charity Commission for England and Wales, replacing the Ilchester Almshouse Charity and dated 21[st] September 1984.
During 2024 the Trustees were:Mrs Rachel Frampton (Chair) Mr Steven Marsh (Vice-chair) Mrs Clare Parker Mr Jonathan Coulson Mrs Hilary Panter Mr Philip Horsington Mrs Ann Faulkner
Three of the Trustees are appointed by the Ilchester Parish Council and serve for a period of 4 years; the remaining 4 are co-opted by the Trustees and serve for a period of 5 years.
The object of the charity is twofold, firstly to provide Relief in Need either generally or individually to persons resident in the Parish of Ilchester, and secondly in the Promotion of Education of persons resident in the Parish of Ilchester.
A financial need must be established for Relief in Need applications.
The charity’s income is derived from the rents on farmland owned mainly in the Parish of Stocklinch gifted to the charity by Robert Veal in the 13[th] century. Further income is derived from the interest on charity investments. The investment capital is not used to award grants. Trustees are always interested in exploring purchasing additional land but unfortunately there have not been any opportunities during this financial year. During 2024 trustees have been in communication with Stocklinch village to ensure there is a balance between the land owned by IRINEC and the potential impact on the community.
In 2024 Trustees have invested £10,000 at Stocklinch supporting one of the tenants improve their farming facilities
During the year many individuals have received grants under Relief in Need and Education. Where a financial need has been established many groups in the village, which includes those involved in the advancement of education, have also received grants. Some university and college students have received grants for travel, books, field trips etc.
In line with the Charities Commission advice the charity continues to review its Risk Assessment and Child Protection Policy on an annual basis. During 2018, the charity introduced a Data Protection Policy that included a schedule for the retention of documents to ensure it was compliant with the data protection legislation and the General Data Protection Regulations, which came into effect on 25.05.18. The charity is registered with the Information Commissioner's Office.
An independent examination of the charity's accounts has been undertaken by Michelle Ferris of Albert Goodman Accountants.
R Frampton Chairman
Date: 13/10/2025
For and on behalf of the Trustees
Page 1
ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent examiners report to the Trustees of Ilchester Relief in Need and Educational Charity
I report to the trustees on my examination of the accounts for Ilchester Relief in Need and Educational Charity ("the charity") for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the charity’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 the Charity Commission under section 145(5)(b) of the 2011 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 2011 act; or
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2 the accounts do not comply with these records.
I 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.
Michelle Ferris BSc(Hons) FCA DChA
Albert Goodman LLP Chartered Accountants Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Date: 16/10/2025
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ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| Expendable income fund Note Receipts Income receipts: From assets: Rents 2 Interest on cash deposits Dividends and interest from investments 3 Asset investment sales Total receipts Payments Charitable activity direct expenditure Charitable payments 4 Other expenditure Administration expenses 5 Property expenses 6 Asset and investment purchases Total payments Net (payments)/receipts for the year Bank Current and Business Reserve accounts at 1 January 2024 Bank Current and Business Reserve accounts at 31 December 2024 Endowment fund Balance of cash and investments at 1 January 2024 Asset and investment sales Asset and investment purchases Balance of cash and investments at 31 December 2024 |
£ £ 27,895 289 23,252 51,436 15,000 66,436 42,266 8,439 12,313 20,752 63,018 63,018 3,418 16,871 20,289 £ 466,109 (15,000) - 451,109 2024 2024 |
£ £ 27,894 357 22,049 50,300 - 50,300 38,841 9,376 2,160 11,536 50,377 20,000 70,377 (20,077) 36,948 16,871 £ 446,109 - 20,000 466,109 2023 2023 |
£ £ 27,894 357 22,049 50,300 - 50,300 38,841 9,376 2,160 11,536 50,377 20,000 70,377 (20,077) 36,948 16,871 £ 446,109 - 20,000 466,109 2023 2023 |
|---|---|---|---|
| 466,109 |
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ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2024
| Note Monetary assets Bank Business Reserve account Bank Current account Other monetary assets Debtors - rents & dividends Prepayments Liabilities Accruals Deferred income - rent and wayleaves received in advance Non monetary assets Investment assets Quoted securities 7 |
Permanent Expendable endowment income fund fund £ £ 509 24,863 - (4,574) 509 20,289 - 6,974 - 493 - 7,467 - 2,700 - 1,376 - 4,076 450,600 - 2024 |
Permanent Expendable endowment income fund fund £ £ 509 23,376 - (6,505) 2023 |
|---|---|---|
| 509 16,871 |
||
| - 6,974 - 420 |
||
| - 7,394 |
||
| - 1,598 - 1,478 |
||
| - 3,076 |
||
| 465,600 - |
Permanent endowment
Land and buildings held for investment purposes (freehold title vested in the Official Custodian for Charities): 67.62 acres at Mannings Farm, Stocklinch
68.509 acres at Brakes Farm, Stocklinch
2 fields comprising 2.382 acres at Stocklinch
3 fields comprising 9.444 acres at Puckington Farmhouse and 0.166 acres at Brakes Farm, Stocklinch Part OS 5900 estimated at 13.38 acres This constitutes The OS 7100 comprising 0.08 acres Parkland at Owl Street, Part OS 6600 estimated at 0.42 acres Stocklinch comprising 14.01 OS 8510 comprising 0.13 acres acres in total Cost £77,200 Part OS1900 reservoir field estimated at 14.77 acres Part OS 2070 reservoir field estimated at 0.79 acres OS 4886 off Owl Street comprising 1.5 acres Part NG 1900 estimated at 13.89 acres Part NG 1839 estimated at 4.14 acres
R T Frampton
Chair Date: 13/10/2025 For and on behalf of the Trustees
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ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
1.1 Accounting convention
The accounts have been prepared on the receipts and payments basis, and in accordance with any applicable standards and the Charities Act.
1.2 Fixed asset investments
Fixed asset investments are included on the statement of assets and liabilities at cost.
| 2 Rents P D Godfrey S M Godfrey E H Lucas Stocklinch Parish Council 3 Dividends BLK Charities UK Equity Fund A Inc BLK Charities UK Bond Fund A Inc 4 Charitable payments Sundry educational payments Grants Relief in Need |
2024 £ 5,600 20,500 1,794 1 27,895 2024 £ 16,714 6,538 23,252 2024 £ 34,158 - 8,108 42,266 |
2023 £ 5,600 20,500 1,794 - |
|---|---|---|
| 27,894 | ||
| 2023 £ 15,758 6,291 |
||
| 22,049 | ||
| 2023 £ 31,742 - 7,099 |
||
| 38,841 |
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ILCHESTER RELIEF IN NEED AND EDUCATIONAL CHARITY NOTES TO THE ACCOUNTS (cont) FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |||||||
|---|---|---|---|---|---|---|---|---|
| **5 ** | Administration expenses | £ | £ | |||||
| Clerk's salary | 4,230 | 5,346 | ||||||
| Independent Examiner's fees | 1,200 | 1,140 | ||||||
| Annual dinner | 330 | 280 | ||||||
| Payroll fees | 360 | 360 | ||||||
| Clerk's expenses | 425 | 161 | ||||||
| Room hire | 116 | 42 | ||||||
| Land Agent fees | 1,778 | 2,047 | ||||||
| 8,439 | 9,376 | |||||||
| 2024 | 2023 | |||||||
| **6 ** | Property expenses | £ | £ | |||||
| Fire and general insurance | 1,973 | 1,813 | ||||||
| Repairs to buildings | 10,340 | 347 | ||||||
| 12,313 | 2,160 | |||||||
| Permanent | endowment | fund | Permanent | endowment fund | ||||
| **7 ** | Other quoted investments | 2024 | 2023 | |||||
| Market | Market | |||||||
| value | value | |||||||
| Nominal | Cost | 31.12.2024 | Nominal | Cost 31.12.2023 | ||||
| £ | £ | £ | £ | |||||
| BLK Charities UK Bond Fund A Inc | 105,111.343 | 190,239 | 149,025 | 110,255.650 | 197,740 | 154,354 | ||
| BLK Charities UK Equity Fund Inc | 65,207.337 | 260,360 | 488,276 | 66,181.296 | 267,860 | 473,930 | ||
| 450,600 | 637,301 | 465,600 | 628,284 |
8 Trustees' remuneration
None of the trustees received any remuneration during the year (2023: none).
None of the trustees were reimbursed for costs incurred during the year (2023: none).
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