## **NORTH MOLTON CHURCHLANDS FEOFFEES**
**Charity No: 266523**
## **ANNUAL REPORT AND ACCOUNTS**
**for the year ended**
**30TH APRIL 2022**
## **NORTH MOLTON CHURCH LANDS FEOFFEES**
The North Molton Churchlands Feoffees is governed by a Conveyance and Trust Deed dated 14th October 1975 and was registered as charity number 266523 on 26th February 1974.
**Trustees:** Vacancy for Secretary Mr R.H. Ayre Mr R.P. Ayre Mr D. Clark Mr J. Fox Mr M. Geen Mr W. Geen (Chairman) Mr S. Kellaway Mr P. Parker Mrs R.J. Taylor (Treasurer) Mr C. Whinney **Principal Office:** Coombeshead South Molton Devon EX36 3ER **Bank:** Nat West 41 High Street Barnstaple Devon EX31 1DA **Independent Examiner:** Stevens & Willey Grenville House 9 Boutport Street Barnstaple Devon EX31 1TZ CONTENTS Page 1 Trustees Report 3 Independent Examiner's Report 4 Receipts & Payments Account 5 Statement of Assets and Liabilities
## **NORTH MOLTON CHURCH LANDS FEOFFEES**
## **TRUSTEES REPORT for the year ended 30TH APRIL 2022**
The trustees present their report and accounts for the year ended 30th April 2022
## **Objects**
The object of the charity is to raise funds from its principal activity for the repairing, sustaining and maintaining of the Parish Church of North Molton, and also for the exonerating and paying of all other charges, reparations, expenses and costs upon such church.
## **Principal Activity**
The principal activity of the charity is the letting and maintenance of owned property to produce an income to satisfy its objects.
## **Review**
There have been fewer Trustees meetings over the past year due to Covid restrictions. Our AGM was held in August when, sadly, The Revd. David Baker gave his last report as vicar of All Saints, North Molton before he moves on to his new parish in Braunton. He hopes that the next incubent will work well with the PCC and the Feoffees and that the Trustees will be courageous and creative in our outlook as custodians of properties in the village. We will miss David sadly and our Chairman thanked him for all he has done for us here in North Molton. David left with a blessing to us all.
The Church Warden advised details of maintenance work on the church clock which the Trustees are willing to finance. However it was suggested by Mr Clark that following the quinquennial report they will have a better idea of what financial help the church will need from the Feoffees.
Currently there is no secretary to the Feoffees following Nigel Ayre's retirement. After discussion the consensus was to leave appointing a new secretary for the time being and see how the Trustees manage. Mr Carder, our Property Manager,has taken over managing the tenant's rental agreements and this is working well. Richard continues to manage our propertieswith competence. He has a good relationship with all tenants.
There have only been two changes in tenancies this year. Bakery Cottage was vacant for 3 months. New tenants took over in September 2021. Old School Flat 2 changed hands at the end of June 2021. All our properties are currently occupied and we are pleased that the tenants are all happy and paying their rents regularly. No rent increases has been made again this year.
## **Maintenance has been carried out as follows:**
**Bakery Cottage** - Repointing to both front and rear of the property was completed while empty. Two rotten lintels replaced. Due to damp problems internal redecoration throughout was necessary. Stonemason's work on the outside of the property amounted to £4,000.
**Bradfords** - Further redecoration of the property has been carried out by the tenants. **1 Hillside Cottages** - Recently given its five-year electrical circuit examination and several faults rectified.The fire base plate was replaced. Cooker element also replaced.
**2 Hillside Cottages** - Five-year electrical circuit examaination found faults which were rectified. Tenant asked if a shower could be fitted over the bath as there is already a screen there. Quotes being requested from local plumbers.
**Painters Cottage** - Five-year electrical examination took place and faults rectified. Tenants maintaining the propertyinternally to a high standard replacing pipe work as needed and kitchen improvements. The paddock is well managed.
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**Mole Bridge House** - Tenant has decorated the upstairs at his own expense. Also improved the barn with new timbers and replaced all the broken windows.
**1 Old School Flat** - New flooring installed in bathroom to replace temporary flooring. Fly problem okay for now. New hall carpet fitted following work on the flooding in bathroom. New immersion system installed.
**2 Old School Flat** - Had its five-year elecrical test. Fly problem rectified but ongoing checks on both flats by Rentokil.Fire alarm has been activated a number of times. Engineer advised a new control box as the sensors are not compatible. A quote was obtained to replace control panels in flats and hall at a cost of £892.72.
**Old School Hall** - The Hall has had its five-year electrical examination and problems recified. Insurance costs have increased. The Hall is now usable following completion of decorations in the toilet area and deep cleaning of the kitchen. Quotes have been sought to renew the guttering. We have grant money to pay for this work.
## **Future Proposed Developments**
Following the departure of Revd. David Baker, plans for future development of the Old School Hall have been put on hold. The Trustees are currently considering possible options for the use of the Hall.
## **North Molton PCC**
No donations have been made to the PCC again this year. However contributions will be made when advised by the PCC.
## **Old School Management Committee**
A letter was received from The Chairman of The Old School Committee informing the Trustees that the Committee has dissolved. This is duto Covid restrictions; little demand to use the rooms; increasing costs; the poor state of the building; the committee dwindling in size. The Feoffees have paid all utility bills and not charged rent for the past two years.
## **Finance**
On line banking has now been commenced with Nat. West Bank. This has been a long process in which Richard Carder has been extremely helpful to the Chairman and Treasurer. Thank you Richard. We are pleased to report that the system is now running smoothly. The possibility of investing a sum to increase our capital is still being discussed while waiting to establish our contribution to All Saints and other possible projects.
Signed Date
Name
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## **NORTH MOLTON CHURCHLANDS FEOFFEES**
## **to the Trustees of**
## **NORTH MOLTON CHURCHLANDS FEOFFEES**
We report on the accounts of the charity for the year ended 30th April 2022 which are set out on pages 4 and 5.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is our responsibility to:
examine the accounts under section 43 of the 1993 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and
to state whether particular matters have come to our attention.
## **Basis of independent examiner's report**
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with our examination, no matter has come to our attention:
- (1) which gives us reasonable cause to believe that, in any material respect, the requirements:
to keep accounting records in accordance with section 41 of the 1993 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act
have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Stevens & Willey Chartered Certified Accountants Date Grenville House 9 Boutport Street Barnstaple Devon EX31 1TZ
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## **NORTH MOLTON CHURCHLANDS FEOFFEES**
**RECEIPTS AND PAYMENTS ACCOUNT** for the year ended **30TH APRIL 2022**
|**RECEIPTS**
**Rental Income**
Bakery Cottage
Bradfords Cottage
Hillside View No 1
Hillside View No 2
Mole Bridge House
MBH Garage
Painters Cottage
Painters Paddock
Old school Flat 1
Old school Flat 2
Old School Hall
**Other Income**
Wayleave
Part of DPS re No 2 Old School Flat
Deposit from New Tenant MBH
Insurance pay-out Old School
Deposit from new tenant Bakery Cottage
Deposit from new tenant Old School Flat 2
Electricity
Grant from NDDC for Old School
**Investment Income**
Charity Official Investment Fund
**Bank Interest Received**
Reserve Account
**Total Income**
**EXPENDITURE**
Insurance (Old School)
Insurance (Houses)
Property Repairs
Electrical Testing
Electricity
Water
Independent Examination Fee
Honoraria
Property Management Fees
Council Tax - Bakery Cottage
Council Tax - 2 Old School Flats
Deposit Protection Service
Purchase of New Mower
Gift to Retiring Minute Secretary
Printing Postage & Stationery
Fire Alarm OS
Lighting Old School
Surveyor Report Old School
Zoom meetings
Architect Old School development
Chimney Sweep
Sundries
Hospitality
Rubbish removal OS
Total Expenditure
**Deficit/Surplus for year prior to donations**
**Deficit/Surplus for year**
Bank Balances 1st May 2021
**Bank Balances at 30th April 2022**|£
£
7,250
7,350
5,670
6,300
7,452
2,400
8,400
650
5,225
5,225
55,922
17
700
475
1,192
24
24
20
20
57,158
2,523
3,967
16,858
1,071
370
696
360
870
9,921
-
-
1,175
-
-
128
498
1,223
60
21
27
120
39,888
17,270
17,270
116,102
£
133,372
**2022**|£
£
6,700
5,250
5,670
6,300
7,531
1,500
7,700
550
6,175
3,575
260
51,211
17
375
761
1,346
700
-
-
10,000
13,199
24
24
22
22
64,456
2,467
2,799
7,181
1,049
887
360
1,154
10,305
244
68
1,461
110
66
175
44
39
234
44
200
28,887
35,569
35,569
80,533
£
116,102
**2021**|£
£
6,700
5,250
5,670
6,300
7,531
1,500
7,700
550
6,175
3,575
260
51,211
17
375
761
1,346
700
-
-
10,000
13,199
24
24
22
22
64,456
2,467
2,799
7,181
1,049
887
360
1,154
10,305
244
68
1,461
110
66
175
44
39
234
44
200
28,887
35,569
35,569
80,533
£
116,102
**2021**|
|---|---|---|---|
||17
700
475|17
375
761
1,346
700
-
-
10,000||
||24|24||
||20|22
2,467
2,799
7,181
1,049
887
360
1,154
10,305
244
68
1,461
110
66
175
44
39
234
44
200||
||2,523
3,967
16,858
1,071
370
696
360
870
9,921
-
-
1,175
-
-
128
498
1,223
60
21
27
120|||
||||64,456
28,887
35,569|
|||||
||£|£||
||||35,569
80,533|
||||116,102|
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**NORTH MOLTON CHURCHLANDS FEOFFEES**
**STATEMENT OF ASSETS AND LIABILITIES** as at **30TH APRIL 2022**
## **ASSETS**
## **Freehold Property**
|**Freehold Property**||||
|---|---|---|---|
|||**Monthly**|**Annual**|
|**Property**|**Tenant**|**Rent**|**Rent**|
|Bakery Cottage|Mr & Mrs Guest - Vacated June 2021|£650|£7,800|
|Bakery Cottage|Fry SLS Sam Bolton - From September 2021|£700|£8,400|
|Bradford's Cottage|Mr Lowe|£525|£6,300|
|Hillside View No 1|Messrs Lynch & Shaw|£472.50|£5,670 Includes water|
|Hillside View No 2|Mr K Hildrew|£525|£6,300 Includes water|
|Mole Bridge House|Mr D Peters|£621|£7,452|
|Mole Bridge Garage|Traditional Finishes|£200|£2,400|
|Painters Cottage|Mr & Mrs. R Partridge|£700|£8,400|
|Painters Field|Mr & Mrs. R Partridge|£50|£600|
|Old School Flat 1|Mr K Strickland|£475|£5,700|
|Old School Flat 2|Mr NC Parker - Vacated July 2021|£475|£5,700|
||L Buckingham - From September 2021|£475|£5,700|
|Old School|North Molton Old School Project||£520|
|**Investments**||||
|45 Units|Charities Official Investment Fund Shares|||
Recent valuations have not been obtained for the investments or freehold properties.
|**Debtors**
Mr R E Lowe Rent arrears
Old School Management Committee (one year rent written off)
Traditional Finishes - Mole Bridge Garage
**Cash at Bank**
Current Account
Reserve Account
**LIABILITIES**
**Receipt in Advance**
Mr K Strickland - one months rent paid in advance
2 Old School Flats £375 paid so far for deposit of £475.
Mr Partridge paid one months paddock rent in advance
**Creditors**
Mr R Carder - property management expenses April
EDF Fire & Smoke alarm at Old School|**2022**
£
-
-
-
0
1,000
132,371
133,371
-
-
50
50
891
48
939|**2021**
£
1,050
-
-|
|---|---|---|
|||1,050|
|||1,000
115,102|
|||116,102|
|||475
375|
|||850|
|||1,180
-|
|||1,180|
The only other liabilities outstanding as at 30th April 2022 are the routine service charges accrued in respect of the freehold properties.
At 30th April 2022 The following deposits were held by the Deposit Protection Service - Mole Bridge House £500; Bradfords £525; 1 Hillside £450; 2 Hillside £525; 1 Old School Flat £475; 2 Old School Flat £475; Bakery Cottage £700; Painters Cottage £700
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