2023-12-31-accounts

MONTAGU HENRY FOSTER AND MARY HENVILLE FOSTER CHARITY

Charity Number: 236729

Annual Report for financial year end 31[st] December 2023

1. Introduction (Structure and Management)

This charity, commonly known as ‘The Foster Charity’, was registered with the Charity Commission on 4[th] January 1964 and undertakes the care and management of 1 and 3 Gosport Road plus the Foster Reading Room. These three properties form a terrace with the Reading Room flanked by the houses. This building was constructed in 1903 by Montague Henry Foster.

The Trustees of the Foster Charity are the Vicar and Wardens of Crofton Parish.

The general day to day management of the houses and Reading Room are taken care of by volunteers.

2. Activities and Objectives

The two houses (1 and 3 Gosport Road) continued to be let at an affordable rate via Eckersley White Estate Agents (Lee on the Solent) for the whole of 2023. The Reading Room was available for use by local community groups (for a donation), and various groups used the facility throughout each week.

A summary of the activities for each of the properties is as follows:

• 1 Gosport Road

The tenants occupying the house remained the same throughout the year. The only major maintenance work carried out was the repair of some missing tiles and rotted eaves wood.

Rental income £10,440.00

Maintenance and management outgoings £4,229.52

• 3 Gosport Road

The tenants occupying the house remained the same throughout the year. The only major maintenance work carried out was the replacement of carpets in the hall, lounge and dining room. Rental income £10,625.00

Maintenance and management outgoings £2,532.50

• Foster Reading Room

• During the year 14 different groups used the room. These included 9 U3A groups and several art and craft groups. U3A groups are attended by local retired residents.

Donation income £4,225.00

Electricity and Sundries outgoings £2,346.85

• Maintenance of front gardens for all three properties The garden contract with W Drier continued throughout the year and the result of his efforts are readily seen. The cost of this work was £1,616.50.

3. Achievements and Performance

The following charity organisations were supported during 2023 from the income gained from renting the two houses and use of the Foster Room:

• Crofton Welfare Trust Support for this local charity has continued with the money being used to fund school holiday food gift vouchers to the value of £700.

• Crofton Family Worker

Support for this Crofton Parish worker has continued throughout the year at the same rate as 2022. This was £360 per month totalling £4,320.00 over the year.

These two gifts fall within the requirements of the Foster Charity governing documents.

The 10 year Community Allotment project (managed by Harold Wonham) came to an end in October 2023. All the strip holders were notified early in 2023 to give them plenty of time to grow and harvest their crops and to consider possible options for the future.

The Community Allotments more than fulfilled the original aims which included opportunities for residents in Stubbington to:

• Enjoy fellowship and contact with like-minded people

• Grow fruit and vegetables when they have no other opportunity

• Have respite from their caring duties (if appropriate)

• Enjoy exercise in the fresh air

The trustees decided to embark on a new 10 year project and earmarked the land for use by Crofton Men’s Shed Group (MSG) for a cabin. Since that time MSG have faced some major hurdles as a public sewer was exposed when the laurel hedge on the Church/Foster land was removed in August 2023.

The MSG have obtained planning permission, but the position of the sewer and Southern Water rules have caused delay to progress with the project. Some allotments have been broken down, but those not likely to be under the planned cabin remain. The existing shed is also being kept for use by the MSG.

It remains to be seen if all the requirements of interested parties can be met in the coming year. Some of the money gifted to the MSG will expire if not used in the next few months. It is hoped that a solution can be found, and the MSG project completed.

4. Financial Review

The financial summary for 2023 is attached to this report.

5. Charity Location and Trustees

The property of the Foster Charity is located at:

Gosport Road Stubbington Hampshire PO143AS

The 2023 Trustees of the Foster Charity were:

Rev Richard England (Vicar of Crofton Parish) Dr Martin Yeandle (Churchwarden of Crofton Parish) Nichola Sampford (Churchwarden of Crofton Parish)

The Foster Charity Accounts 2023

£ 19,642.11

Current Account Opening Balance

Number 1 Gosport Road

Income

Number	1 Gosport Road Income
	Rent	£	10,440.00
	Total			£	10,440.00
	Expenditure
	Eckersley White Management	£	1,127.52
	Eckersley White Maintenance	£	672.00
	Other Maintenance / repair	£	2,430.00
	Total			£	4,229.52
Number	3 Gosport Road
	Income
	Rent	£	10,625.00
	Total			£	10,625.00
	Expenditure
	Eckersley White Management	£	1,147.50
	Eckersley White Maintenance	£	1,385.00
	Other Maintenance / repair	£	-
	Total			£	2,532.50
The Foster Room
	Income
	Rent	£	4,225.00
	Total			£	4,225.00
	Expenditure
	Electricity	£	2,321.72
	Sundries	£	25.13
	Total			£	2,346.85
All Foster Property
	Expenditure
	Insurance	£	724.26
	Gutter Clearance	£	300.00
	Gardening	£	1,616.50
	Total			£	2,640.76
CFW	12 months @ £360	£	4,320.00
	Total			£	4,320.00
CWT	Gift vouchers for schools	£	700.00
	Total			£	700.00
Other	Simply Docs	£	36.00
	Total			£	36.00
Total Income				£	25,290.00
Total Expenditure				£	16,805.63
Net Income				£	8,484.37
Current Account Closing Balance				£	28,126.48
Deposit	Account Opening Balance			£	15,048.31
	Interest			£	132.41
Deposit	Account Closing Balance			£	15,180.72

Total Cash

£ 43,307.20

		2022
	Fixed Assets
	Freehold Property atvaluation
	1,3&FosterReading Room,GosportRoad,StubbingtonHampshire978,73L,00
- *--	CurrentAssets
	BankAccountsasper schedule	f34,690.42
	TotalNetAssets	8t.013,42L.42