**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:
- a) One part for the upkeep of the Parish Church of Kingsteignton.
- b) One part for the provision of education in the Parish.
- 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