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2024-12-31-accounts

Ringmer Jubilee Cottages Housing Trust

Charity registration number: 276147

Trustees’ Annual Report

and

Statement of Accounts

For the year ended 31[st] December 2024

Ringmer Jubilee Cottages Housing Trust

Reference and Administrative Details

Holding Trustees: Mr R A R Askew
Cllr John Kay
Cllr Gordon Sims
Trustees/Management Commitee: Cllr John Whitlock - Chairman
Cllr Sarah Phillips
Cllr John Kay
Cllr Margaret Crompton
Cllr Dave Duke
Principal Ofce: c/o Ringmer Parish Council
Parish Rooms
Old School Close
Ringmer
LEWES
East Sussex
BN8 5RA
Registered Ofce: c/o Ringmer Parish Council
Parish Rooms
Old School Close
Ringmer
LEWES
East Sussex
BN8 5RA
Charity Registraton Number: 276147
Bankers: Barclays Bank Plc
Independent Examiner: Mr Peter Jonathan Franklin CIOB
9 Delves Close
Ringmer
East Sussex
BN8 5JW

Page 2 of 3

Ringmer Jubilee Cottages Housing Trust

Chairman of Management Committee’s report for the year ended 31[st] December 2024

Sadly, one of the original trustees, Mr Bob Peters passed away this year and we thank him for his contribution to the charity.

I am pleased to report that we continued to meet the Charities objectives to provide dwellings as first homes for young Ringmer couples of limited means.

We welcomed new tenants into No. 2 Jubilee Cottages in April of this year for a 3 year period having made a decision to increase the rental income from £300 pcm to £450 pcm. The property benefitted from a light renovation including painting and new carpets before the new tenants arrival.

The tenants in No 1 Jubilee Cottages moved out in early December. New tenants are in the process of giving notice to their current property and the cottage is being redecorated. A new (second-hand) kitchen is being fitted along with new flooring throughout. Rental income will increase for the new tenancy to align with No 2.

This year saw the completion on 25[th] July of the purchase of a further property; 51 Shepherds Way in Ringmer, which was funded partially by a bequest left to the trust in 2021 and additionally by a grant received from Ringmer Parish Council. The 2 bedroom semi-detached property is located centrally and received its first tenants in October having been decorated throughout and benefitting from a new bathroom. These improvements were funded by a further grant from Ringmer Parish Council. The cottage has been renamed Blyth Cottage to reflect the bequest left by the donor.

Committee Members carried out routine inspections of the properties throughout the year. Regular reports were fed back to the Management Committee and any issues/ routine maintenance matters were followed-up on.

Discussions continued whether to relocate, No’s 1 and 2 Jubilee Cottages. There are issues to overcome concerning the properties’ title and these would need to be resolved if a decision to relocate is made.

Cllr. John Whitlock

Trustee/Chairman - Ringmer Jubilee Cottages Housing Trust Management Committee

Page 3 of 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RINGMER JUBILEE corrAGES HOUSING TRUST Charity Number 276147 I report on the accounts for the year ended 31 December 2024, which are set out on pages 1 to 3 Respectlve 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 under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed It is my responsibility to:. examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. and to state whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a revTew 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 my examination, no material matters have come to my attentlon which g7ves me cause to believe that in, any material respect: accounting records were not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn 7n order to enable a proper understanding of the accounts to be reached. Jonathan Franklin 9 Delves Close, RINGMER, East Sussex BN8 5JW

RINGMER JUBILEE COTTAGES HOUSING TRUST

Registered Charity number 276147

INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31ST DECEMBER 2024

INCOME
Rents receivable (note 1)
Interest/Dividend
Sundry Income (note 1.1)
EXPENDITURE(note 3)
Maintenance:
Internal No.1
Internal No.2
Internal No.3
External No.1
External No.2
External No.3
Cess pit service and emptying
Garden maintenance/grass cutting
Sundry
Other:
Insurance: House
Sundry
3rd Property purchase
Administration:
Administration fee (note 4)
SURPLUS/(DEFICIT) FOR YEAR
Change in value of investments
NET MOVEMENT OF FUNDS
£
£
10,270.00
4,795.05
110,194.27
125,259.32
1,609.50
4,931.24
10,073.04
725.50
442.00
141.40
140.00
717.00
-
1,040.18
1,941.23
316,926.60
1,000.00
339,687.69
(214,428.37)
(65.36)
(214,493.73)
2024
£
£
7,200.00
1,914.70
10.71
9,125.41
324.00
99.60
77.50
398.90
466.70
360.00
17.94
713.51
-
660.00
400.00
3,518.15
5,607.26
3.15
5,610.41
2023

RINGMER JUBILEE COTTAGES HOUSING TRUST

Registered Charity number 276147 BALANCE SHEET AS AT 31[st] DECEMBER 2024

FIXED ASSETS
Freehold property at valuation (note 5)
Investment Shares at market value (note 2)
CURRENT ASSETS
Redwood Savings
Barclays Business Premium account
Barclays Current account
CURRENT LIABILITIES
Creditors
ACCUMULATED FUND
Balance brought forward
3rd Property
Surplus/deficit for year
Signed on behalf of the Trustees
£
£
405,000.00
0.00
405,000.00
0.00
1,013.24
9,581.83
10,595.07
415,595.07
-
415,595.07
315,088.80
315,000.00
(214,493.73)
415,595.07
-
2024
£
90,000.00
65.36
193,306.60
10,916.13
20,800.71
£
90,065.36
225,023.44
315,088.80
315,088.80
309,478.39
5,610.41
315,088.80
2023

RINGMER JUBILEE COTTAGES HOUSING TRUST

Registered Charity number 276147

NOTES TO THE ACCOUNTS 2024

Expenditure was increased this year mainly due to the refurbishment of the newly purchaed Blyth Cottage.

The insurance remained with Greens Insurance Group at a premium of £912.85

The current sum for the cost of re-build is £350,000 per property (2023: £313,006) for Jubilee Cottages and £229,000 for Blyth Cottage.

The Market value of the properties is estimated at: £ 800,000 (2023: £760,000) for Jubilee Cottages and £325,000 for Blyth Cottage