2022-12-31-accounts

THE FEOFFEE CHARITY (ESTATE CHARITY)

THE PARISH OF KINGSTEIGNTON

TRUSTEES' REPORT AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

THE FEOFFEE CHARITY (ESTATE CHARITY)

FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

CONTENTS

	Page
Charity Information	1
Trustees' Report	2
Independent Examiner's Report	3
Statement of Financial Activities (Receipts and Payments)	4
Statement of Assets and Liabilities	5
Notes to the Financial Accounts	6

THE FEOFFEE CHARITY (ESTATE CHARITY)

FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

CHARITY INFORMATION

Clerk Mrs S Coombes Board of Trustees Rev M Smith - Chairperson Mrs B Austen Miss J A Sumner Mr I Avery Mr R Peart Mrs J Warren Mrs M Bonnell Registered Charity Number 265541 Contact Address The Vicarage Daws Meadow Kingsteignton Newton Abbot Devon TQ12 3UA Independent Examiner Andrew J Redmayne FFA FMAAT FFTA Redmayne & Co 11 Oakford Kingsteignton Newton Abbot Devon TQ12 3EQ

Page 1

THE FEOFFEE CHARITY (ESTATE CHARITY) CHARITY NUMBER 265541

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Board of Trustees present their report and the financial accounts for the year ended 31 December 2022.

Board of Trustees

The trustees who served during the year are as stated below:

Rev M Smith - Chairperson Mrs B Austen Miss J A Sumner Mr I Avery Mr R Peart Mrs J Warren Mrs M Bonnell

Selection of Charity Trustees

Trustees may be removed or appointed in accordance with the Schemes of the Charity Commission referred to below.

Trustees' Responsibilities

The responsibilities of the trustees in relation to the financial accounts are set out in the independent examiner's report on page 3.

Governing Document

The charity is constituted by a Scheme of the Charity Commission dated 3 September 1862, as amended by a further Scheme dated 4 March 1964.

Charitable Objectives

The main objects of the charity are:

1. To benefit the public by providing accommodation in the Parish of Kingsteignton.

2. To use the clear income of the Charity to benefit the Parish in three main areas:

3. a) One part for the upkeep of the Parish Church of Kingsteignton.

4. b) One part for the provision of education in the Parish.

5. c) And the third part for the benefit of the sick and the poor of the Parish.

Note: "Clear Income", as mentioned above, is the residual income after allowing for expenses, management and necessary provisions. It is then divided into three equal parts. However, the Trustees have the right to vary the proportions from time to time subject to the sanction of the Charity Commission.

Financial Review

The Trustees consider the results for the year and the position of the Charity at the end of the year to be satisfactory.

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

It is the Charity's policy to ensure that it retains sufficient reserves to cover foreseeable and unforeseeable future costs.

The Charity remains well positioned to continue undertaking its charitable objectives.

This report was approved by the Board of Trustees on 24 July 2023 and signed on their behalf by

Rev M Smith Chair of Trustees

Page 2

THE FEOFFEE CHARITY (ESTATE CHARITY)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FEOFFEE CHARITY (ESTATE CHARITY)

I report to the trustees on my examination of the accounts of the Feoffee Charity (Estate Charity) (the Charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the trustees of the Charity 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 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 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no 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 Trust as required by section 130 of the Act; or

2. the accounts do not accord with those 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.

Andrew J Redmayne FFA FMAAT FFTA Redmayne & Co 11 Oakford Kingsteignton Newton Abbot Devon TQ12 3EQ

24 July 2023

Page 3

THE FEOFFEE CHARITY (ESTATE CHARITY)

STATEMENT OF FINANCIAL ACTIVITIES RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Notes Receipts 2 Expenses Direct Charitable Expenditure 3 Donations 4 Other Expenditure 5 Net Receipts / (Payments) for the year Opening cash and bank balances Closing cash and bank balances	Unrestricted Funds £ 33,966 10,548 6,500 1,343 18,391 15,575 76,647 92,222	2022 Restricted Funds £ - - - - - - - -	Total Funds £ 33,966 10,548 6,500 1,343 18,391 15,575 76,647 92,222	2021 Total Funds £ 36,712
				11,518 528 665
				12,711
				24,001 52,646
				76,647

In accordance with section 133 of the Charities Act 2011 the Trustees have elected for these financial accounts to be prepared on a receipts and payments basis. As such the figures may include income or expenditure received or paid during the year but which relates to a different accounting period.

These financial accounts were approved by the Board of Trustees on 24 July 2023 and signed on their behalf by:

Rev M Smith Chairperson

Page 4

THE FEOFFEE CHARITY (ESTATE CHARITY)

STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022

Cash at bank and in hand Bank and building society accounts: Co-Operative Community Directplus Account Co-Operative Business Select 14 day Account Cash in hand: General petty cash Investment assets Held for investment purposes: 550.68 COIF Charities Investment Fund Income Shares Freehold properties held by the charity for rental purposes: 15 Fore Street, Kingsteignton, Newton Abbot 16 Fore Street, Kingsteignton, Newton Abbot 17 Fore Street, Kingsteignton, Newton Abbot 18A Fore Street, Kingsteignton, Newton Abbot 18B Fore Street, Kingsteignton, Newton Abbot 19 Fore Street, Kingsteignton, Newton Abbot All assets are held in the unrestricted fund. Other assets Amounts held by letting agent for future property repairs/improvements Liabilities The only material liabilities of the charity are: Accountancy/independent examiner's fees	2022 £ 52,512 39,703 92,215 7 92,222 2022 £ 1 2022 £ 690	2021 £ 36,989 39,651
		76,640 7
		76,647
		2021 £ 1
		2021 £ 660

Page 5

THE FEOFFEE CHARITY (ESTATE CHARITY)

NOTES TO THE FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

• Accounting convention

The financial accounts are prepared on a receipts and payments basis under the historical cost convention.

2. Receipts

Rent received Investment Income - COIF income units Investment Income - bank interest Bank compensation		2022	Total Funds £ 33,515 299 52 100 33,966	2021
	Unrestricted Funds £ 33,515 299 52 100 33,966	Restricted Funds £ - - - - -		Total Funds £ 36,412 291 9 -
				36,712

3. Direct charitable expenditure

Unrestricted Funds £ Letting agency commission and introductory fees 4,792 Property repairs, maintenance and improvements 2,110 Insurance 1,772 Council tax 1,776 Light and heat 98 Building survey etc. - 10,548		2022	Total Funds £ 4,792 2,110 1,772 1,776 98 - 10,548	2021
		Restricted Funds £ - - - - - - -		Total Funds £ 4,849 4,176 1,458 11 11 1,013
				11,518

4. Donations

Unrestricted Funds £ Kingsteignton Feoffees Poor Persons Charity - Rydon School 1,500 St Michael's School 1,500 St Michael's Church 3,000 Mrs E C Thomas - Kingsteignton Primary School 500 6,500 Other expenditure Unrestricted Funds £ Postage and stationery - Honorarium - Valuation re possible property sale 700 Accountancy including independent examiner's fees 643 1,343		2022	Total Funds £ - 1,500 1,500 3,000 - 500 6,500 Total Funds £ - - 700 643 1,343	2021
		Restricted Funds £ - - - - - - 2022		Total Funds £ - - - - 528 -
				528
				2021
	Unrestricted Funds £ - - 700 643 1,343	Restricted Funds £ - - - - -		Total Funds £ 5 - - 660
				665

5. Other expenditure

6. Taxation

The activities of the Charity are exempt from corporation tax.

Page 6