NORTH MOLTON CHURCHLANDS FEOFFEES Charity No: 266523 ANNUAL REPORT AND ACCOUNTS for the year ended 30TH APRIL 2024
NORTH MOLTON CHURCH LANDS FEOFFEES The North Molton Churchlands Feoffees is governed by 8 Conveyanee and Trust Deed dated 14th October 1975 and was registered as tharity number 266523 on 26th February 1974. Trustees: Vacancy for Secretsry Mr R.P. Ayre Mr D. Clark MrJ. Fox Mr M. Geen Mr W. Geen (Chairman) Mr S. Kellaway Mr P. Parker Mrs R.J. Taylor ITreasurerl Mr C. Whinney Princlpal Offlce: Coombeshead South Mollon Devon EX36 3ER Bank: Nat West 41 High Street Barnstaple Devon EX31 1DA Independent Examiner: Stevens & Willey Grenville House S Boulport stet Barnslaple Devon EX31 1TZ CONTENTS Page Trustees Report Independent Examinerfs Report Receipts & Payments Account Stslemenl of Assets and Liabilities
NORTH MOLTON CHURCH LANDS FEOFFEES TRUSTEES REPORT for the year ended 30TH APRIL 2024 The tru3tees present their report and accounts for the year ended 30th April 2024. Obje¢ts The object of the d)arity is lo ra15e funds from 11$ principal activity for the repairing, sustaining and rnainlaining of the Pansh Church of North Morton, and also for the exonerating and paying ol all other charge5, reparations, expenses and costs upon such church. Prlncipal Activlty Tho prinrApal activity of the charity Ss the letting and rna1ntenan ol owned property to produce an income to satisfy its otiects. Review The main focus throughout this year has been the development of the ground floor of our Old School Hall. An Ernail was received fr(xn the Chairman of the local Community Shop Cornmittee during July 2023 setting out their pioposals for a shop that would allow them to Scale up the operation over their fitst few years trading. Suggested leasirE lenns could be over 12 years th the-year rent review and breaks. subseqUenY an emergency meeting of the Trustees was held to study the outline pyoposals and sUestIOnS for the heads ol terms for a commercial lease belween NM Feoffees (The landlord) and NM Comrnunily Shop Committee IThe tenants) These were passed in principle by the Trustees Two local builders were asked to submit quotes for the renovation works needed to update the ground floor of the building to a sound and secure standard. Both quotes were of favourable terms and il was agreed by the Trustees to offer the work to A & G Setherton's who had converted th& upstairs ffoor into flats. 50 are familiar with the building. Work commenced before the end of the Summer of 2023 to take Vantage ol reasonable weather to start work on the roof. A considerable amount of wotk was wuired in¢ludiryJ secondary glaiw". new c8iling IvJhting & heating., west wall treatment to prevent water In9$$.. kitchen redecoration and window repairs., toilets cleaned plus Tninor repair5 and foilage removed from outsideThe Shop Committee a planning to be in a position to open the village shop in early May 2024 together with a small café area. The Feoffee5 and PCC will ¢onlinue to hold keys lo the building lo enable All Saints to use the hall and toilets for church PUIP058sThe main work was completed earfy in 2024 and the building is now secure and sound an¢J very attrathvely presented. Our AGM was held in August 2023. Mr Roy Ayre, one ol our long term Trustees. stepp8d down due to healtt) issues. He will be greatly missed by us all and grateful thanks were ¢0ed for hi5 dedication and commitment to the Feoffees over many years. Proposals for a replacement are to be discussed al a future rneeting. We now currently have 9 Trustees. As the Church Warden was not pie5ent no Annual Report was presented. Church Wardens Accounts were signed by the Chainian. A new team rector was appointed in Autumn 2023 for the 11 churches in the Edgemoor group of parishes. The Revd. Dr Dominic Coad and his family moved Into the Vicarage in North Molton and have been widely wekomed by all the parishes. The Rector, togetherwth Jane Kent. our new Church VVar¢Jen. a to te invited to a fulureTrustees meeting. The Treasurerfs Report & Accounts were adopted & signed by The Chairman. The Treasurer will cornplete the Charity Commission Retum and fonmard befo the deadline at the end February 2024. This involved much Iepth work to cornply with The Charlty CoTnmis5ion updated terms and con(Jitions. The was a rent incrèasa in May 2023. offirS were reappointed except for Vice Chairrnan. Mr Dawd Clark wshed ¢0 step down. A plaCement bMII be considered at the next rneeting. Thanks were extended to all offieers from th8 Chairman. The only tenancy agreement renewed wa$ Flat 1 Old Schwl which changed hand8 during November wth new tenant In December. Our tenants continue to be happy in their hornes and have a good rel81ionship with our Property Manager. He rosponds to any property Issues in a swft and efficient manner and 1$ very valued by the Trustees for the smi)oth iunning of our r&8ponsibilities to our tenants in maintaining the properties entrusted to our care. There We no negative ie5ponse5 to the rent increase in May. There was only one tenancy change al The Old School Flat 1 when the provious tenant left in October and a new tenant took over in Dec8mb&r 2023. Unfortunately there have been Some issues th the new ocxupant regarding nt payments and deposit which have not been resolved to date. Agenda i18rn for nex¢ meeting, Malntenance has been Carrled out as follows: Bakery Cottage- No rnainlenanee requested. 8radford$ Cottage- Chimney ¢ohrg wa5 replar£d after it ¢ame off during high winds. 1 Hlllslde Ctsttage$- No rnainlenance qUeSted. 2 Hlllslde ¢ottage$- Secondary glazi Instald. Painters Cottage- Electri¢ shower failed. 2 quote5 were reiVed both averaging £1.$00 which Induded electric show*r unit and lilin9 New shower & tiling has now been provided. Repair work Carried out on the burner. Page 1
Mole Brldg? House- Quotes sought, includiThJ from the tenartt. a buikler. for Ihè renewal of the roof. A meeting via5 heu with the tenant. He subsequently ¢arried Out $ome minor rep8ir5 and felled the roof lemporarity but Te-reofing will b? needed in a couple of year$. l Old School Flat- Water leak in roof report8d and aclioned. Rat infeslatth in ar va dealt with. Tenancy charyJed in DÈ¢ember. New tenant moved in on 14th December 2023. Ilernsleft by the departing tenant dispesed of. 2 Old School Flat- Fencing adjoining the church yard collapsed and needs 18placing Property Manager removed wy and made safe until removal. Hob extractor and hot water cylindertimer repla¢8d by a local plumber Old School Hall- Covered above G8neral- A number of propertles need electric21 inspection and t?[ricate renewal. Rent were iD¢reased by 5% in May 2023. A short section of the wall of the Old School Yard Playground aa needs attention, The Parish Counul Chaiman has Qrganised a painter to irnprove the appearance of the wall. Feoffees to provrde paint. Future Propos8d D8velopmert8 Re-roofiryJ on Mole Bridge House lo be Con$fde when necessary. No Oiher pland devel¢pmetht$ at tbi$ time. North Molton PCC The PCC Treasurer requested a donation of£5.000 during this financial year to help with ehurch Insuran c051s. This wa5 approved and transferred. Followng 8 d)urch inspection a large outlay will be needed for woths on the church tower when a donation from Tho Feoffees wll be needed to supplement Chuich funds. Finance Our main funds are hek1 In a Bu$lne$s Reserve A¢Unt resutting in interest of £2021 this finanal year. All tenants are paying their rents regularly and in full except Ih? Th¥ tenant of No 1 Old School Flats. To be reviewed and di$¢u$sed. The Old S¢h¢ol is now in good repair and wll secure a long term workabl8 outcome for the future of the downstairs of the building We tontinue 10 en$ure we have Sufficient fund5 availabk to maintain all of our properties and our omrnitmenl lo continue lo contribute to the maint¢nan¢e of All Sain h to fulfill the objeGI of our chaFiIy. SIgd Date Name li/ f /'kn2+ Page 2
INDEPENDENT EXAMINER'S REPORT to the Trustees of NORTH MOLTON CHURCHLANDS FEOFFEES We report on the accounts of the charity for the year ended 30th April 2024 which are set out on pages 4and5. Respective responslbllltles of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charitys Iruslees consider that an audit is not required for this period under section 144 of the Charities Act 2011 (the Charities Acll and that an independent examination is needed. It Is my responsibility lo.. examine the accounts under section 145 of the Charib'es Act, tr) follow the procedures laid down in the general Directions given by the Charty Commission {under section 145151{bl of the Charities Act), lo stale whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance wrth the general Directions given by the Charty 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 Iruslees conceming any such matters. The prOdureS undertaken do not provide all the evidence that would be required for an audit and consequentty no opinion is given as to whether the accounts present a 'true and fair view and the report is limited lo those matters sel out in the statement below. Independent exarniner's statement In connection with my examination, no matter has come to my attention.. 11 which gives me asonable eause to believe that in any material respect the requirements to keep accounting records in accordance with section 130 of the Charities Act. to prepare ac¢ounls which accord with the accounting needs and comply with the accounting requirements of the Charities Act, have not been met.. or 2110 which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Paul Ho Stevens Grenvill 9 Boulpo Barnslaple Devon nd Ho Page 3
NORTh MOLTON CHURCHLANDS FEOFFEES RECEIPTS AND PAYMENTS ACCOUNT fr>r the year ended 30TH APRIL 2024 2024 2023 RECEIPTS Rental Income Bakery Cottage Bradfords Cottage Hillside View No 1 Hillside View No 2 Mole Bridge Hous6 MBH Garage Painters Cottage Painteis Paddock ord school Flat 1 Old school Flat 2 Old School Hall 9,240 6,924 6.228 6.924 7.452 2,4CKJ 9,240 655 4,835 6,276 855 8,400 6.300 5.870 6.300 7,452 2,400 8,400 600 3,675 6.125 2.230 0,174 57,552 Other IneomÈ Wayle8ve DPS re No 2 Old School Flat Deposit from No 1 Ol¢J School Flat8 17 475 525 1LX) 116 1.017 Investment Income Charlty Official Investment Fund 25 25 24 24 Bank Int•rest Recelved Reserve Account 2.021 2,021 765 765 Total Income EXPENDITURE Insuran (Old S¢hooll Insuran IHouse51 Property Repair5 Electtlcal Testing Eledrtthty Wat8r Independent Examination Feo Honoraria Propety Management Fee Deposit Prot8elon Service Printing Postage & Stationery Fire Alarm Tests OS Sutveyor Report Old School Archf(ect Old School development Sundries Storage Boxes for OS Pest Control Rubbish r8rnoval OS Rental of Village Hall for Meeting Totsl Expenditure 2,245 4,094 76,734 50 1,870 3,988 8,057 259 443 769 1.013 528 959 15,530 913 11.431 1.000 127 218 168 94 300 55 24 120 135 29 703 15 103,385 103,385 30,291 (Deflcltysurplus for #r prior to donatlons 140.1941 29,067 Donation to North Mollon Parish Church 5.000 Deficitlsurplus for year 145.1941 29.067 Bank Balance al beginning of year 162,439 133,372 Bank Balances at 30th Aprll 2023 117,245 162,439 Page 4
NORTH MOLTON CHURCHLANDS FEOFFEES STATEMENT OF ASSETS AND LIABILITIES as at 30TH APRIL 2024 ASSETS Freehold Propolty Property Bakery Cottage Bradford's Cottage Hillside Vtew No 1 Hillside View No 2 Mole Bridge House Mole Bridge Garage Painters Cottage Painters Field Old School Flat 2 Oky School Flat 1 Tenant Rent Messrs Fry & Bolton Mr Lowe Messrs Lynch & Shaw Mr Ken Hildrew Mr D Peters Traditional Finishes Mr & Mrs. R Partridye Mr & Mrs. R Partridge M5 M Mccarthy M5 K Bradnam £770 pm £577 pm £519 pm £577 pm £621 pm £200 £770 prn £55 £523 £523 £9,240 pa £6,924 pa £6,228 pa- Includes water £6,924 pa- Includes water £7,452 pa £2.400 pa £9.240 pa £655 pa £6.276 pa £4,835 pa £60,174 Investrnents 45 units Charities Official Inve5trnent Fund Shares Recent valuations have not been obtained for the investments or freehdd propertles. 2024 2023 Debtor8 M5 K Bradnarn- Rent arrears M5 K Br8dnarn- Deposit arrears 532 423 cash at Bank Current Account Reserye Account 1.000 116,245 1,000 161,439 117.245 162,439 LIABIUTIES Recelpt In Advance Mr Partridge pakl one months paddod( nt in advance 50 Creditors R Carder Property Mangers April Expenses EDF Fire & Smoke alarm at Old School 891 48 939 The only otr liabilitie5 outstanding as at 30th April 2024 are the routine servica charges accured in respect ol the freèhold prop8rties. At 30th April 2024 The follohmng deposits were hekl by the Deposit Protection SerVi- Mole Brge House £500,. Bradfords £525.. 1 Hi115Kle £450," 2 Hillside £525., 1 Old School Flat Nil.. 2 Old School Flats £475,. Bakery Cottage £700.. Painters Cottage £700 Page 5