2024-12-31-accounts

THE FEOFFEE CHARITY (ESTATE CHARITY)

THE PARISH OF KINGSTEIGNTON

TRUSTEES' REPORT AND FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE FEOFFEE CHARITY (ESTATE CHARITY)

FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

CHARITY INFORMATION

Clerk	Mrs S Coombes
Board of Trustees	Rev M Smith - Chairperson
	Mrs B Austen
	Mrs J Edwards
	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 2024

The Board of Trustees present their report and the financial accounts for the year ended 31 December 2024.

Board of Trustees

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

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

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 14 July 2025 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 2024.

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

30 June 2025

Page 3

THE FEOFFEE CHARITY (ESTATE CHARITY)

STATEMENT OF FINANCIAL ACTIVITIES RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

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 £ 149,843 9,718 - 4,602 14,320 135,523 203,842 339,365	2024 Restricted Funds £ - - - - - - - -	Total Funds £ 149,843 9,718 - 4,602 14,320 135,523 203,842 339,365	2023 Total Funds £ 138,770
				11,902 11,600 3,648
				27,150
				111,620 92,222
				203,842

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 14 July 2025 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 2024

Cash at bank and in hand Bank and building society accounts: Co-Operative Community Directplus Account Co-Operative Business Select 14 day Account (includes £220,385 asset sale proceeds pending anticipated reinvestment) 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: 16 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. 17 Fore Street, Kingsteignton, Newton Abbot was sold in July 2023. 15 Fore Street, Kingsteignton, Newton Abbot was sold in March 2024. 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	2024 £ 37,022 302,336 339,358 7 339,365 2024 £ 1 2024 £ 720	2023 £ 23,670 180,165
		203,835 7
		203,842
		2023 £ 1
		2023 £ 673

Page 5

THE FEOFFEE CHARITY (ESTATE CHARITY)

NOTES TO THE FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 Asset sale: gross disposal proceeds		2024	Total Funds £ 30,847 304 3,692 115,000 149,843	2023
	Unrestricted Funds £ 30,847 304 3,692 115,000 149,843	Restricted Funds £ - - - - -		Total Funds £ 28,008 300 462 110,000
				138,770

3. Direct charitable expenditure

Unrestricted Funds £ Letting agency commission and introductory fees 4,039 Property repairs, maintenance and improvements 4,721 Insurance 802 Council tax 156 9,718		2024	Total Funds £ 4,039 4,721 802 156 9,718	2023
		Restricted Funds £ - - - - -		Total Funds £ 3,601 4,545 1,246 2,510
				11,902

4. Donations

Unrestricted Funds £ Kingsteignton Feoffees Poor Persons Charity - Rydon School - St Michael's School - St Michael's Church - Kingsteignton Primary School - -		2024	Total Funds £ - - - - - -	2023
		Restricted Funds £ - - - - - -		Total Funds £ 2,600 1,500 1,500 4,500 1,500
				11,600

5. Other expenditure

Other expenditure
Postage and stationery Honorarium Property sale costs Legal fees Accountancy including independent examiner's fees		2024	Total Funds £ 41 325 2,395 1,121 720 4,602	2023
	Unrestricted Funds £ 41 325 2,395 1,121 720 4,602	Restricted Funds £ - - - - - -		Total Funds £ - 100 2,220 655 673
				3,648

6. Taxation

The activities of the Charity are exempt from corporation tax.

Page 6