EXMOUTH CHURCH INSTITUTE
REPORT OF THE TRUSTEES
FOR THE YEAR TO 31 DECEMBER 2024
CHAIUTY NO 251170

EXMOUTH CHURCH INSTITUTE
AYJ NUAL REPORT FOR THE YEAR TO 31 DECEMBER 2024
LEGAL AND CONSTITUTIONAL
The Exmouth Church Institute, The Parish Otrice, Rolle Road, Exmouth, is registered with
the Charity Commissioners (No.251170) and ¢onslituted by Deed of Trust datsd 19 May 1925
as extended by an order dated 12 March 1940 and constituted by a scheme sealed by the
Charity Commission on 21 August 1981.
TRUSTEES
Ex-officio
Rev'd Steven C. Jones (Rector)
Mr. Paul Stock (Churchwarden) from 24 November 2021
Mr Stephen Thomas from 30 May 2023
Cowopted (appointed for terms of five years)
Appointed
24 November 2021
29 February 2020
23 July 2024
29 Febtwary 2020
Retires
23 November 2026
28 Febmary 2025
24 July 2029
28 February 2025
Mrs. Susan Carrahar
Mr. David Gingell
Miss Sally Parnell
Mr. Richard Ward
CLERK TO THE TRUSTEES
Mr V Eddy
BANKERS
National Westminster Bank PIC
Rolle Street
Exmouih, EX8 1 HU
Central Board of Finance of the Church of England
Senator House, 85 Queen Victoria Street
London, EC4V 4ET
l￿DEPENDENT EXAIKtNER
James Bick, FCA
Bi¢k Accountants Ltd
Chart¢r¢d A¢countants
18A Littl¢ham Road
Exmouth, EX8 2QG
SOLICITORS
Everys
Magnolia House
Church Street
Exmouth, EX8 1 HQ
Page I

ORGANISATION
The Church Institute Trust of Littleham cum Exmouth is a Trust governed by a s¢heme of ihe
Charity Commissioners of 19 May 1925 as affected by various subsequent schetnes, the most
re¢ent being 21 August 1981. The Charity has voluntsry officers but no paid employees. The
area of benefit of the Ti'ust is restricted to furthering the religious and other charitabl¢ work of
the Church of England in the Ecclesiastical Parish of Littleham-cum-Exmouth.
The Trust's registered office is The Parish office. Holy Trinity Church, Rolle Road,
Exmouth, EX8 2RA.
TRUSTEES
The Scheme of Arrangement provides for there lo be seven Trustees, three being ex-offi¢io,
namely the Rector and Churchward¢ns of the Ecclesiastical Parish of Littleham-¢um-
Exmouth, and four CO•OPted Trustees.
By virttie of the Vestry Meeting dated 19 March 2003 pursuant to the Churchwardens
Measure 2001, th¢re are now four Churchwardens. It has been decided by the Chur¢hwardens
for the time being that only two will represent the Churchwardens as ex-offi¢io Trustees of
this Trust.
RECRUITMENT AND APPOTNTMELYf OF TRUSTEES
At its meeting on 5 December 2017, in accordance with the 8uidan¢e tEcommended in
Charity Commission document CC30 (Feb. 17 Ed.), the Trustees adopt¢d a statement of
policy in regard lo the recruitment and appointment of Trustees as set out in Appendix A of
that meeting. The Statement of Policy was further amended, and additions adopted at &
rneeting on 8, December 2020.
OBJECTIVES AND AcfIvITtEs
The objects of the Charity are to further the religious and other charitable work of the Church
of England in the ecclesiastical parish of Littleham with Exmouth. This includes the
maintenance of Church buildings used for public worship and other buildings relating thereto.
The Trustees have had due regard to th¢ Charity Commission guidance on public b¢nefit.
ACHIEVEMENTS AND PERFORMANCE
The Trustees continue to manage the assets of the Trust in order to enable maintenance of the
real property and the perforniance of the financial assets to ensure a balance betw¢en Capital
appreciation and income so as to sustain current and future objectives.
The Trustees will continue to respond to applications for grant assistance from:
The PCC of Littleham-cum-Exmouth
The Beacon C of E (VA) School
LittlehaTn C of E Junior and Infants School
Littleham Leisure Centre Management Committee (supported through the PCC)
The Open Door Project Exmouth
Page 2

INVESTMENT POWERS AIYD POLICY WITH REGARD TO RESERVES
The Trustees are required to retain th¢ p¢rn)anent endowment, being th¢ original property and
the funds arising therefrom, and any interest and investment income earned on those funds
which has been appropriated to capital. The Trustees, from time to time, ensure that the value
attributed to the real property is professionally assessed and r¢fl¢¢ted in the balance sheet.
Records available do not reveal any method or trail of decisions to prove the value of the
p¢iThan¢nt endowment.
It is th¢ intention of the Trustees to ensure that, after making suitable cash r¢s¢rves for
demands that are known or may be expect￿ to arise. the balance of funds not held as property
should be invested for Capital growth within the requirements of the current scheme subject to
any amendments agreed by the Truste¢s.
Following the 2014 review of investments the Trust is currently able to generate at least
£35,000 per annum. This may alter from year to year du¢ to the impact of tnarket changes on
investment income and changes in rental income following periodic lease renewals. Apart
frotn insurance and governance costs the balance annually is available for the provision of
grant5 and the cost of any maintenance works to the premises over and above those for which
the lessees of 33-35 Rolle Street are responsible under the tenns of the cutTent lease. During
2018 the Trustees considered a more specific split in the allocation of reserves by opening a
Buildings Reserve Fund to receive annual contributions of £8,500. Howev¢r, in order to
maintain the present level of grant suppor( it has been agreed that. for the time being, no
further transfers be made to this Fund.
The Trust's investment porttolio is tnanaged by CCLA Investment Management Ltd and is
held in a number of CBF Church of England Funds as shown in the annual balance sheet. The
current portfolio was last reviewed by CCLA in May 2014 when substantial cash holdings
were transferred into new investment accounts. The Trustees are aware that futur¢ reviews
need to be undertaken on a regular basis.
RISK REVIEW
The Trustees regularly review the risk element of the various investments including the
following aspects:
l. That any tenant of the property own¢d by the Trust could encounter financial
difficulties.
2. That any tenant may at any time give notice, within the ternis of the lease. to
temiinate the lease.
3. That investments in th¢ various Church Of England Funds may go down as well as
FUTiIRE FINANCIAL PROJECTIONS
Th¢ likely change in income or ¢xpenditure. subject to the risk elements identifted above, may
include..
An increase in rent r¢¢¢ived following a rent review.
An increase in rent following renewal of the lease or the granting of a new lease.
Any in¢r¢ase or decrease in interest rates or dividends.
Any increase or decrease in the value of property or invested assets.
Any change in the alK)ve which will affect the income that the Trustees have available for
grant distribution.
Page 3

SAFEGUARDING
The Truste¢s are aware of the need to observe good practice on safeguarding. Under its
pr¢sent Scheme of Arrang¢men¢ the Trust's objects and a¢tivRti¢s do Dot britRg the Trust¢¢s or
Officers in the conduct of their duties on behalf of the Trust into unattended contact with
children or vulnerabl¢ adults.
In order to make the most effective and flexibl¢ use of its grant making capacity the Trnst has
agreed a new policy with the PCC of Littleham-cum-Exmouth. its n￿lD benefEciary. With
effect from 1st January 2023, a new block grant arrangement will be approved 8muaUy with
the PCC wh¢reby the budgeted funding amount will be transferred to the PCC by quarterly
payments throughout the year, to be used by th¢ PCC strictly for the purposes set out in th¢
Trnst's Scheme of Arrangemeni being" for the purpose of fjjrthering the religious and oth¢r
haritable work of the Church of England in the Ecclesiastical Parish of Littleham-cum-
Exrno￿h." A fornial Agreement has been sign¢d by both parties aftd payments were made by
¢qual instaltnenty quarterly throughout the year. ond held by the PCC in a restricted thnd.
The PCC will submit a schedule of payments to th¢ Trustees at the end of each fmancial y¢ar.
Any unused balance may be held by th¢ PCC for future use.
For and on behalf of the Trustees
Date
Sr
Page 4

EXMOUTH CHURCH INSTITUTE
INDEPENDENT EXAMINERS, REPORT
Independent Examinersy Report to the Trustees of the Exmouth Church Institute
I report on the accounts of the Exmouth Church Institute for the year ended 3 l DecembeT
2024 which are set out on pages 6-9.
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 hav¢ followed all the applicable Directions
given by the Charity Commission under section 145{5Xb) of the Act.
Independent examiner's statement
I have compl¢t¢d my examination. I confirni that no material matters have come to my
attention in eonn¢ction with the examination giving me cause to believe that in any material
respect:
accounting records were not kept in respect of the charity as required by section 130 of
the Act; or
the accounts do not accord with those Tecords. or
the accounts do not comply with th¢ applicable requirements conc¢ming 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 no concerns and have come across no other matter5 in connection with the
exarnination to which attention should be drawn in this report in Order to enabl¢ a proper
understsnding of the accounts to be reached.
James Bick FCA
Independent Examiner
Bick Accountants Ltd
18A Littleham Road
Exmouth
EX8 2QG
22 September 2025
Page 5

EXMOUTH CHURCH INsfITUTE
FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2024
RECEIPTS AND PAYMENT ACCOUNT
General Restricted Designated
Fund
Fund
Fund
Total
2024
Total
2023
Note
Receipts
Rent received
Insurance premiums re¢eivable
Interest received
Investtnent income
Total receipts for the year
20,000
2,590
20,1)00
2,590
20,000
2,510
731
1&636
39,877
16,894
40,495
16,894
40,495
Payments
Direct charitable expenditure
Property insurance
Professional Fees
Governance ¢osis
Office ¢05ts
Building repairs and maintenance
Total payments for year
32,500
2,590
32,$00
2.590
52,625
2JlO
960
900
12
200
36,250
36,250
5&047
Net receiptsl(payments) for the year
4,245
4.245
(16,1701
Realised gain on iDvestm¢nts
Net movement in funds
Transfer5 berween funds
Realised reserves at l January 2024
Realised reserves at 31 December 2024
4,245
4,245
(16,170)
9,783
14,028
13,348
13.348
23.131
27,376
39JOI
23,131
Unrealised movement on r¢valuatlons
Unrealised reserves at l January 2024
{LossyGain on snvestmenis
Gain on revaluation of property
Unreaiised reserves at 31 D¢ceTnber 2024
227,689
9.419
691,356
919,045
9,419
884,275
34,770
237,108
691,356
928,464
919,045
Total reserves at 31 De£¢rnber 2024
251,136
691,356
13,348
955,840
942,176
Page 6

EXMOUTH CHURCH INSTITUTE
FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2024
BALANCE SHEET
Note
2024
2023
Frethold property investments
J) Rolle Street
35 Roll¢ Street
240,J75
134,625
240.375
134,625
375,000
)75,000
Otber investments
Central Board of Finance Investments
io
539,948
530,529
539,948
914,948
530,529
905,529
Total Investments
Current Assets
Debtors
Bank balances..
Total Current Asse¢s
Ji
12
740
35,907
40.892
40,892
36,647
Totsl Assets of Tryst
955 840
942.176
REPRESENTED B Y:
General fuThd
At l January 2023
Net receiptsl{payments) for the year
Rcalised gain on investment
At ) l December 202i
9,783
4.245
25.953
{16,170)
14,028
9,783
Endowed (restricted) fund
At l January 2022
Prior year adjustment
Appreciation in property valuation
At 31 December 2022
691,356
691,356
691,J56
691,356
Buildings {design¥ted) fund
At l January 2022
re¢¢iptsl{payments) for the year
At 31 De¢ember 2022
13,348
13,348
13,348
13,i48
Revaluation reserve
At l January 2022
Prior year adjustment
Net unr¢alised (lossesygains for the year
At 31 December 2022
227,689
192,919
9,419
2J7,108
34,770
227,689
Total reserve funds
955 840
942 170
Page 7

EXMOUTH CHURCH INSTITUTE
FINANCIAL STATEMEFITS FOR THE YEAJi TO 31 DECEMBER 2024
NOTES TO THE ACCOUNTS
l. Basis of Accounting
The Accounts have been prepared on the "receipts and payments basis" in ac¢ord2nc¢
with the Charities Act 2011 section 133.
2. Freehold prnperty investment valuations
The properties were revalued by independent chartered surveyors on 31 January 2022,
These values ore shown in the accounis and the Change in value posted to the Endow¢d
(restricted) Fund. The properties are revalued every 5 yws.
2024
2023
3. Renls received
33 and 35 Rolle Street
20.000
20,000
4. Insuranee premiums re¢eivable
33 and 35 Rolle Street
2,590
2.510
5. Interest received
Central Board of Finance Deposit Fund
1,012
731
6. Investment income received
Central Board of Finance Funds:
Investment Fund 4
Investment Fund 5
Property Fund 6
4,924
7,506
4.464
16,894
4,948
7,351
4,396
16,695
7. Direet tharitable expenditure
Littleham-cum-Exmouth PCC
Open Door Centre
30,000
2,500
32,500
50,125
2,500
52,625
8. Miscellaneous payments
Property insurance
Independent examiners fee
Printing, Staiionery & Postage
Building repairs & maintenance
2,590
960
2,510
900
12
200
3,750
3,422
Page 8

EXMOUTH CIIURCH INSTITUTE
FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2024
NOTES TO THE ACCOUNTS (CONTINUED)
2024
2023
9. Freehold Property Investments
Professional valuation at 31 January 2022
33 Rolle Street
35 Rolle Street
240,375
134,625
240,375
134,625
375,000
375,000
10. C.B.F investments
(4) Investmeni Funds Units- at market value
At ¢ost- £70,000
(5) Investment Funds - at market value
At cost - £153,000
(6) Property Funds- at market value
At cost- £80,000
181.452
177.392
276.598
270,409
81,898
82,728
539,948
530,529
11. Debtors
Insurance premiums receivable
740
12. Ballk BalAnces
National Westminster Bank..
Current Account
Central Board of Finance..
Deposit account
21,462
16,476
19,431
19,431
40,892
35,907
Page 9