REYNOLDS TEAGUE HOMES
MINUTES OF AN ANNUAL GENERAL MEETING OF THE TRUSTEES
HELD ON TUESDAY 8[th] OCTOBER 2024 AT 11am
AT THE TRUSTEES OFFICE
REYNOLDS TEAGUE HOMES, EVESHAM ROAD, STOW ON THE WOLD
Present :
Mr Richard Davies Secretary and Trustee Mrs Kate Gum Trustee Mr Michael Gum Trustee Mrs Helen Keyte Trustee Mrs Bernice Magson Treasurer and Trustee Mr Derek Magson Trustee Mr Paul Teague Trustee
Ms Joy Diamond Warden
1. Apologies for Absence
The Chairman Mrs Jill Rodden unfortunately has Covid and was unable to attend.
She did send a message which was read out by Kate at the start of Item 3.
Mr David Glaisyer was also absent.
2. Warden’s Report
See attached. Joy also produced a quote from Laser Alarms for fire extinguishers which she thought very expensive. Bernice will look into it.
Joy commented that all residents seemed well and happy.
3. Election of Officers
All Trustees present confirmed that they would be happy to serve another term.
A statement from Jill was read out by the Vice Chairman, mentioning her concerns, and a list of the Warden’s responsibilities was circulated by Kate.
So far as Officers are concerned:-
Chairman;
Jill Rodden proposed Paul Teague, seconded Bernice Magson
Vice Chairman;
Kate Gum, proposed Mike Gum, seconded Richard Davies
Treasurer;
Bernice Magson, proposed Kate Gum, seconded Helen Keyte
Secretary;
Richard Davies, proposed Mike Gum, seconded Bernice Magson
All were carried unanimously.
In the absence of Jill, the Vice Chair, Kate assumed control of the meeting.
4. Minutes of the Last Meeting
These were approved and signed by Kate.
Matters arising:-
Emily Baddeley has now moved into Number 3.
The current Vicar confirmed that she could come as an Observer but was unlikely to be able to participate usefully.
5. Maintenance/Property Matters
These were dealt with by the Warden’s report and discussion below.
6. Vacancies
Currently there are three vacancies but only Mr Finn and Mrs Collier were thought suitable.
They will be interviewed by Jill and Bernice
7. Treasurer’s Report and Proof of Accounts
Bernice produced the latest accounts, which were approved.
It was not thought that we were getting a good enough return on the £10,900 in investment accounts, nor on current account.
It was suggested large surpluses where there were no big capital expenditures likely should be moved to an interest bearing account with easy access.
This will be investigated further before the next Trustee’s meeting.
It was also proposed by Bernice to increase contributions next year, up again from an increase of this year.
It was proposed to increase all contributions and put them up to £410 per month, leaving Tim’s at that so that they tally. The new residents of Number 4 will start at that figure.
Joy’s Tenancy Agreement needs to be checked.
It was discussed whether to send out letters before Christmas or after and it was thought better to send them out in line with annual increases so they will go out in the Spring.
Bernice was thanked for all her hard work over the year.
8. Residents
These were discussed above in 3. and 7.
9. Date of Next Meeting
This will take place in the Spring on a date to be decided.
There being no other business the meeting closed at 12.35pm.
REYNOLDS-TEAGUE HOMES
ACCOUNTS
YEAR TO 31 MARCH 2025
| Page | |
|---|---|
| GENERAL INFORMATION | 1 |
| ACCOUNTANTS CERTIFICATE | 2 |
| RECEIPTS AND PAYMENTS ACCOUNT | 3 |
| BALANCE SHEET | 4 |
BRONSENS CHARTERED CERTIFIED ACCOUNTANTS HILLSIDE ALBION STREET CHIPPING NORTON OXFORDSHIRE OX7 5BH
Page 1
REYNOLDS-TEAGUE HOMES GENERAL INFORMATION YEAR TO 31 MARCH 2025
SECRETARY
R L Davies, Bourton-on-the-Water
TRUSTEES
Mr D Magson Mr R L Davies Mr D Glaisyer Mrs H Keyte Mr P Teague Mrs J Roddan Mrs B Magson (Treasurer) Mr M Gum Mrs K Gum
ACCOUNTANTS
Bronsens Chartered Certified Accountants Hillside Albion Street Chipping Norton Oxfordshire OX7 5BH
REGISTERED CHARITY NUMBER
L2/242558
Page 2
REYNOLDS-TEAGUE HOMES
ACCOUNTANTS CERTIFICATE
YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties as trustees, we have prepared for your approval the financial statements of Reynolds-Teague Homes for the year ended 31 March 2025 which comprise the Profit and Loss Account, and the Balance Sheet from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the trustees of Reynolds-Teague Homes, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reynolds-Teague Homes and state those matters that we have agreed to state to the trustees of Reynolds-Teague Homes, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its trustees, as a body, for our work or for this report.
It is your duty to ensure that Reynolds-Teague Homes has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ReynoldsTeague Homes. You consider that Reynolds-Teague Homes is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Reynolds-Teague Homes. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRONSENS Chartered Certified Accountants Hillside Albion Street Chipping Norton Oxfordshire OX7 5BH
______ Date
Page 3
REYNOLDS-TEAGUE HOMES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Receipts | ||
| Residents’ contributions | 34,650.00 | 33,500.00 |
| Interest – COIF Charities Deposit Fund | 41.21 | 38.56 |
| M & G Charity Multi Asset Fund Increase in valuation during year | 677.89 | 785.20 |
| 35,369.10 | 34,323.76 | |
| Payments | ||
| Alarm rental (careline) | 126.05 | 229.20 |
| Laser alarm – maintenance contract | 1,065.77 | 643.13 |
| Insurance | 2,775.78 | 2,127.32 |
| Legal and professional | 360.00 | - |
| National association of alms houses | 353.00 | 343.00 |
| Accountants fee | 288.00 | 252.00 |
| General maintenance | 4,700.81 | 970.00 |
| Plumbing | 1,692.08 | 833.15 |
| Central heating boiler contract | 520.00 | 520.00 |
| Garden maintenance | 4,926.59 | 5,490.49 |
| Electricity and gas | 615.20 | 186.45 |
| Rates and water | - | - |
| Refurbishment of Reynolds House (Warden’s Property) | - | 233.78 |
| Refurbishment of No.6 | - | - |
| Refurbishment of No.5 | - | - |
| Refurbishment of No.3 | 4,518.41 | 1,158.65 |
| Refurbishment of No.4 | 190.00 | - |
| 22,131.69 | 12,987.17 | |
| (Deficit)/Excess Of Income Over Expenditure | 13,237.41 | 21,336.59 |
Page 4
REYNOLDS-TEAGUE HOMES
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| BANK AND INVESTMENT ACCOUNTS | ||
| Lloyds Bank Account | 47,109.04 | 34,590.73 |
| COIF Charities Deposit Fund | 873.04 | 831.83 |
| M & G Charity Multi Asset Fund | 10,443.76 | 9,765.87 |
| Total Bank and Investment accounts | 58,425.84 | 45,188.43 |
| CAPITAL ACCOUNT | ||
| Balance at 1 April 2024 | 45,188.43 | 23,851.84 |
| (Deficit) / Excess of Income over Expenditure | 13,237.41 | 21,336.59 |
| 58,425.84 | 45,188.43 |
We approve the Accounts and confirm that we have made available all relevant records and information for their preparation.
Secretary – Mr R L Davies Trustee – Mr D Glaisyer
Date
REYNOLDS-TEAGUE HOMES
ACCOUNTS
YEAR TO 31 MARCH 2025
| Page | |
|---|---|
| GENERAL INFORMATION | 1 |
| ACCOUNTANTS CERTIFICATE | 2 |
| RECEIPTS AND PAYMENTS ACCOUNT | 3 |
| BALANCE SHEET | 4 |
BRONSENS CHARTERED CERTIFIED ACCOUNTANTS HILLSIDE ALBION STREET CHIPPING NORTON OXFORDSHIRE OX7 5BH
Page 1
REYNOLDS-TEAGUE HOMES GENERAL INFORMATION YEAR TO 31 MARCH 2025
SECRETARY
R L Davies, Bourton-on-the-Water
TRUSTEES
Mr D Magson Mr R L Davies Mr D Glaisyer Mrs H Keyte Mr P Teague Mrs J Roddan Mrs B Magson (Treasurer) Mr M Gum Mrs K Gum
ACCOUNTANTS
Bronsens Chartered Certified Accountants Hillside Albion Street Chipping Norton Oxfordshire OX7 5BH
REGISTERED CHARITY NUMBER
L2/242558
Page 2
REYNOLDS-TEAGUE HOMES
ACCOUNTANTS CERTIFICATE
YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties as trustees, we have prepared for your approval the financial statements of Reynolds-Teague Homes for the year ended 31 March 2025 which comprise the Profit and Loss Account, and the Balance Sheet from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the trustees of Reynolds-Teague Homes, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reynolds-Teague Homes and state those matters that we have agreed to state to the trustees of Reynolds-Teague Homes, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its trustees, as a body, for our work or for this report.
It is your duty to ensure that Reynolds-Teague Homes has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ReynoldsTeague Homes. You consider that Reynolds-Teague Homes is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Reynolds-Teague Homes. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRONSENS Chartered Certified Accountants Hillside Albion Street Chipping Norton Oxfordshire OX7 5BH
______ Date
Page 3
REYNOLDS-TEAGUE HOMES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Receipts | ||
| Residents’ contributions | 34,650.00 | 33,500.00 |
| Interest – COIF Charities Deposit Fund | 41.21 | 38.56 |
| M & G Charity Multi Asset Fund Increase in valuation during year | 677.89 | 785.20 |
| 35,369.10 | 34,323.76 | |
| Payments | ||
| Alarm rental (careline) | 126.05 | 229.20 |
| Laser alarm – maintenance contract | 1,065.77 | 643.13 |
| Insurance | 2,775.78 | 2,127.32 |
| Legal and professional | 360.00 | - |
| National association of alms houses | 353.00 | 343.00 |
| Accountants fee | 288.00 | 252.00 |
| General maintenance | 4,700.81 | 970.00 |
| Plumbing | 1,692.08 | 833.15 |
| Central heating boiler contract | 520.00 | 520.00 |
| Garden maintenance | 4,926.59 | 5,490.49 |
| Electricity and gas | 615.20 | 186.45 |
| Rates and water | - | - |
| Refurbishment of Reynolds House (Warden’s Property) | - | 233.78 |
| Refurbishment of No.6 | - | - |
| Refurbishment of No.5 | - | - |
| Refurbishment of No.3 | 4,518.41 | 1,158.65 |
| Refurbishment of No.4 | 190.00 | - |
| 22,131.69 | 12,987.17 | |
| (Deficit)/Excess Of Income Over Expenditure | 13,237.41 | 21,336.59 |
Page 4
REYNOLDS-TEAGUE HOMES
BALANCE SHEET
AS AT 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| BANK AND INVESTMENT ACCOUNTS | ||
| Lloyds Bank Account | 47,109.04 | 34,590.73 |
| COIF Charities Deposit Fund | 873.04 | 831.83 |
| M & G Charity Multi Asset Fund | 10,443.76 | 9,765.87 |
| Total Bank and Investment accounts | 58,425.84 | 45,188.43 |
| CAPITAL ACCOUNT | ||
| Balance at 1 April 2024 | 45,188.43 | 23,851.84 |
| (Deficit) / Excess of Income over Expenditure | 13,237.41 | 21,336.59 |
| 58,425.84 | 45,188.43 |
We approve the Accounts and confirm that we have made available all relevant records and information for their preparation.
Secretary – Mr R L Davies Trustee – Mr D Glaisyer