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2023-12-31-accounts

SELBY FEOFFEE AND WELFARE CHARITY

ANNUAL REPORT AND UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 DECEMBER 2023

Charity number 810060

SELBY FEOFFEE AND WELFARE CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and the financial statements of the charity for the year ended 31 December 2023.

The accounts have been prepared on the receipts and payments basis.

AIMS AND OBJECTIVES

The objects of the charity are the management of farmland and investments.

After defraying from the income all proper costs and management expenses, the trustees shall apply the income of the charity as follows:

  1. One third for charitable purposes for the general benefit of the inhabitants of the town of Selby in the relief of the aged, poor, those in distress, the sick, or for provision and support in the object of improving the conditions of life for the said inhabitants in the interests of social welfare, of facilities for recreation and other leisure time occupations. The trustees may also apply the income for the provision and support of educational facilities.

  2. One third for augmenting the income of the Selby Almshouses and Poor’s Charity.

  3. One third to be paid to the church trustees as income of the Feoffee Estate Church Charity.

The trustees confirm that they have referred to the guidance contained in the charity commission’s general guidance on public benefit when reviewing the charities aims and objectives and in planning future activities.

ACHIEVEMENTS AND PERFORMANCE

The income of the charity was applied in accordance with the aims and objectives as far as possible.

The work to incorporate the Charity was stalled throughout the Covid pandemic and continues to be slow due to the need to undertake Voluntary First Registration of all our properties and land. This is proving difficult due to lack of some documentation and no proper plans particularly of our farmland. We are arranging for accurate plans to be drawn up with full measurements and it will be necessary for some Trustees to swear Statutory Declarations to support the registration.

Trustees continue to monitor the return on investments to ensure a good return for the charity and to seek safe and secure opportunities for investment of funds.

Trustees continued to receive and deal with applications from support workers within the community and offer monetary help for individuals during extremely difficult times.

The charity received 41 applications during the year of which 32 were granted totalling £14,319 which was distributed to those living in Selby Town.

SELBY FEOFFEE AND WELFARE CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 – CONTINUED

RESERVES POLICY

The charity’s policy is to maintain sufficient cash resources to enable its objectives to me met as needed. The trustees continue to review options for investing in assets in order to maximise available funding to fulfil the aims and objectives of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

Constitution

Selby Feoffee and Welfare Charity is a registered charity number 810060 governed by a scheme dated 24 August 1981 as amended by a new order dated 20 June 2001 and 10 August 2021.

The board of trustees hold meetings quarterly to consider matters in line with the connected charities. The chair of the board has discretion to grant sums up to a maximum of £500 per individual because, since the board only meets quarterly, it is often necessary to make decisions more quickly. The chair then reports retrospectively to the board on any grants made in this way and reports more unusual or higher value applications to the next board meeting where the decision is made by the board as a whole. Due to the high number of applications each year the board has agreed its current general priorities for grants as being emergency help and support for individuals in the first instance.

The board took a decision during 2012 that it would encourage grants from individuals rather than organisations and would look for these individuals to be supported by local frontline support workers from local charities or social care organisations. This allows the board to build up relationships of trust with those local frontline staff who are better informed about the particular circumstances of individuals as well as their immediate needs.

Day to day operation of the charity is overseen by the chair and undertaken by the trustee board.

Appointment of trustees, induction and training

The ex-officio trustees, being the vicar and representatives of the Parish of Selby Abbey, are deemed to be appointed by the Parochial Church Council of the said Abbey. The nominative trustees are appointed by Selby Town Council for a term of 4 years but the person need not be a member of the council.

Co-opted trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the town of Selby and specific skills to support the board in their work. They are appointed by the board and serve for a period of 5 years.

All new trustees have a meeting with the chair and other trustees to explain the work and activities of the charity.

CO-OPERATION WITH OTHER CHARITIES

The trust works in connection with other charities. The same trustees serve for Selby Almshouses and Poor’s Charity.

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES

The body of trustees consists of the trustees for the time being of Selby Almshouses and Poor’s Charity.

They shall consist, when complete of:

SELBY FEOFFEE AND WELFARE CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 – CONTINUED

REFERENCE AND ADMINISTRATIVE INFORMATION - CONTINUED

TRUSTEES - CONTINUED

Ex Officio Trustees:

The Vicar and Churchwardens for the time being of the Ecclesiastical Parish of Selby Abbey

Nominative Trustees

Nominated by Selby Town Council

Co-opted Trustees:

INDEPENDENT EXAMINER

SOLICITOR

Frances Howard FCA Fortus Limited Business Advisors and Accountants Equinox House Clifton Park Shipton Road York YO30 5PA

Elmhirst Parker Abbey Yard Selby YO8 4PX

BANKERS

HSBC Bank plc Market Place Selby YO8 4PA

Approved by the trustees on 8 October 2024 and signed on their behalf by:

…………………………………………… Melanie Davis - Chair

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

SELBY FEOFFEE AND WELFARE CHARITY

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 5 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees 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 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 material 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 charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

Frances Howard FCA Fortus Limited Business Advisors and Accountants Equinox House Clifton Park Shipton Road York YO30 5PA

17 October 2024

SELBY FEOFFEE AND WELFARE CHARITY

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

RECEIPTS
Activities for generating funds
Farm rents
Investment income
Investment income
Total receipts
PAYMENTS
Charitable activities
Charitable grants
Selby Abbey PCC
Selby Almshouses and Poor’s Charity
Independent examiners fee
Bank charges
Total payments
Increase in bank and cash balances
Bank balance at 1 January 2023
Bank balance at 31 December 2023		 General
Endowment
Fund
Fund
£
£
5,220
-
32,575
-
_
_
37,795
-
_
_
14,319
-
2,373
-
2,373
-
1,302
-
76
-
_
_
20,443
-
_
_
17,352
-
89,470
-
_
_
106,822
-

 Total
2023
£
5,220
32,575
_
37,795
_
14,319
2,373
2,373
1,302
76
_
20,443
_
17,352
89,470
__
106,822
 Total
2022
£
3,785
32,283
_
36,068
_
8,005
10,168
10,168
-
67
_
28,408
_
7,660
81,810
__
89,470

SELBY FEOFFEE AND WELFARE CHARITY

STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2023

General Endowment Endowment
Total		 Total
Fund Fund 2023 2022
£ £ £ £
CASH FUNDS
Bank balances 106,822 - 106,822 89,470
INVESTMENT ASSETS – AT MARKET VALUE
11802 NAACIF Income shares - 10,601 10,601 10,422
1973.52 COIF Charities Investment Fund income units 39,164 - 39,164 35,869
360,645.83 COIF Charities Ethical Investment Fund
Income units 91,712 993,832 1,085,544 988,458
______ _____ _ _
130,876 1,004,433 1,135,309 1,034,749
TOTAL ASSETS 237,698 1,004,433 1,242,131 1,124219
LIABILITIES
Independent examiners fee 720 - 720 1,302
Mandated distributions
Selby Almshouses and Poor’s Charity - 2023 12,164 - 12,164 14,396
Selby Almshouses and Poor’s Charity - 2022 12,023 - 12,023 -
Parochial Church Council of Selby Abbey - 2023 12,164 - 12,164 14,396
Parochial Church Council of Selby Abbey- 2022 12,023 - 12,023 -
______ ______ _ _
49,094 - 49,094 30,094

The charity also owns 66 acres of tenanted farmland to provide income to the charity and forms part of the endowment fund.

Approved by the trustees 8 October 2024 and signed on their behalf by:

…………………………………………… Melanie Davis - Chair

SELBY FEOFFEE AND WELFARE CHARITY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

These accounts have been prepared under the historical cost convention, on a receipts and payments basis, in accordance with Section 133 of the Charities Act 2011 and following the guidance for accounting for smaller charities issued by the Charity Commissioners.

FUNDS

The endowment fund represents funds to be held permanently for the purposes of the charity.

General funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

2. GRANTS

During the year the charity made 32 (2022 - 23) grants totalling £14,319 (2022 - £8,005). No grant was made in excess of £1,000 in either year.