**CHURCH STREET PROPERTY TRUST REPORT FOR THE YEAR ENDING 31 DECEMBER 2022** ## **INCOME AND EXPENDITURE SUMMARY** ## **INCOME** In view of the current difficult economic situation, a minimal rent increase was implemented during 2022, giving an annual revenue from the five properties of £39, 435.00 with all five properties fully let throughout the year. £94.71 was earned in bank interest. ## **EXPENDITURE** ## **Property Expenditure** Annual expenditure on the properties for 2022 has totalled £8,714.79 which includes £4,723 32 on repairs, renewals and maintenance, half of which was spent on the ongoing programme of cellar upgrades to the properties; £1,951.15 on buildings insurance and £1,974.04 on the annual contract with British Gas to service and maintain the gas appliances and provide the Landlords Gas Safety Certification. £1,400.00 was spent on administration. ## **Grants Expenditure** £32, 647.74 has been paid out in grants during the year to the benefit of Alcester residents, including The Depot Youth Club, The Greig Hall, Royal British Legion, Alcester Community Fridge, Alcester Ladies Netball Club, Alcester Youth Project for enhancement of the Abbey Fields site, St Nicholas Churchwomen’s Guild and Sensory Garden, Alcester in Bloom. Regrettably. Ragley Estate no longer wishes to sell the central parcel of land in Alcester which would have ensured its continuation as public open space and the ongoing negotiations have now ceased. ## **CHURCH STREET PROPERTY TRUST HISTORY** For anyone who is unaware of the history of Church Street Property Trust, it provides a fine example of how 3 buildings with clever investment in 1787 can pay an important role in our Town over 200 years later. The 3 original tenements with outbuildings & gardens were held by the Bailiffs & Churchwarden as Trustees for the inhabitants of Alcester and the properties were leased with the profits used to benefit the inhabitants of Alcester as the Trustees thought fit. A deed of 1787 states that a 99-year lease of the 3 houses in Church Street was granted to William Farr, Steel Toymaker of Birmingham, for 99 years for a yearly rental of one shilling, and the payment in cash of £150 with the proviso that within 3 years the then existing tenements were to be taken down and new buildings erected of equal or greater yearly value than the old tenements, the whole property to be handed over to the Bailiffs and Churchwardens at the expiration of the lease in good and substantial order and repair. William Farr did this and replaced the 3 houses with the current 5 houses numbered 13 to 17, in Church Street The property reverted to the Bailiffs and Churchwardens on 25 March 1886, and rents were fixed at £12 each per annum on 2 houses and £10 each per annum on the other three, the Trustees paying Rates. In 1895 letters from the Charity Commission to the then Churchwarden indicated that it was competent for the Alcester Parish Council to appoint Trustees in place of the Churchwardens and the Charity was recorded in the Books of the Charity Commission. For many years the Trustees of the property consisted of 2 Trustees appointed by the Alcester Parish Council (later Alcester Town Council) and the High & Low Bailiff but this has recently been increased for ease of administration with 4 additional Trustees co-opted. Whilst the Charity has no formal Scheme of Management, the Trustees operate in accordance with The Charity Commission suggestions in a letter dated 24[th] July 1979, the remit being to utilise the rental profits from the properties for local charitable purposes for the maximum benefit to the community. A list of grants made since 1902 makes interesting reading, including the purchase of a new steam Fire Engine and subsequent payments towards its upkeep, renovations to community buildings in the town, support for the celebration of events of national importance, and support for a wide variety of local organisations contributing to the town’s wellbeing. ',¢J o) ccc CO ts)la. a)!¢0 p>'p)'vJ 0> co "lfj lfj!t*) i4) o a) CD oJ'rD ro '- o'G)1<..2 01 jIIrnC)OYX JJJ n n r) (D J ltii IJ Vi I 00￿*..￿0000th ia) o o ro h)'.o o o o,o.o o o o ￿.0.0 0.0 o'.o',o,' .0 0 0 4&'010 0 o o.'o,:o. ) v) o co )0. ',¢J o) ccc CO ts)la. a)!¢0 p>'p)'vJ 0> co "lfj lfj!t*) i4) o a) CD oJ'rD ro '- o'G)1<..2 01 jIIrnC)OYX JJJ n n r) (D J ltii IJ Vi I 00￿*..￿0000th ia) o o ro h)'.o o o o,o.o o o o ￿.0.0 0.0 o'.o',o,' .0 0 0 4&'010 0 o o.'o,:o. ) v) o co )0.