Annual Report 2014
Trustees Report for the year ending 31 December 2014
Aims and Purposes
The aims of the Barton under Needwood & Dunstall Key Trust (‘the Trust’) are to distribute the income derived from investments , including rent from land, in accordance with the Trust Deed , whilst maintaining adequate reserves in line with future planned commitments.
Objects and Activities
The objects of the Trust are to meet the needs of the
residents in the area of benefit as laid down in the Trust Deed,
including:
- contributing to the upkeep and maintenance of the Parish
Church in Barton under Needwood,
- relief of persons who are in need, hardship or distress, and
- for the general benefit in such charitable ways as the
trustees think fit.
Achievement and Performance
Clerk
Following the resignation of Lesley Warren, due to business & family commitments, the Trust advertised widely and after interviewing candidates have appointed Mrs Miriam Firth as the Trust's clerk from 1 January 2015. Mrs Firth, who has lived in Barton for 38 years and is trustee & treasurer of a well respected charity in Burton on Trent has signed an Agreement for the Supply of Services.
We are very fortunate to have again recruited an experienced Clerk whose principal motivation is to assist in our community.
Combined with our Trustees wide ranging knowledge of our community, commercial acumen and experience of managing charitable organisations we are well placed to continue the development and successful operation of the Trust. I thank them all for their dedication to making this Trust a major force in Barton & Dunstall.
Finance & Investments
The Trust appointed Land & Mineral Management, a specialist consultancy based in Frome, to advise on the value of our land at Breach Close falling within the area for which Aggregate Industries has Planning consent to expand their Newbold Quarry. Land & Mineral Management are now in negotiation with Aggregate Industries to obtain the best possible value for the Trust.
Nigel Davis Solicitors, the Trust's specialist agricultural legal advisers have, following extensive research to establish our tenant's status, served Notice on our tenant and to the business to whom our tenant has sub-let the land without our consent. We expect to obtain vacant possession in March 2016 well before the land is required for mineral extraction and that this will help maximise the sale value.
We remain content with the service and performance of Investec, our investment managers, but will continue reviewing their appointment particularly if there is a substantial influx of funds.
Administration costs were 17% of net income being influenced by legal fees invested in connection with our land at Breach Close.
Grants
During the year 10 grants have been awarded to individuals and 4 to local organisations totalling £7,514. Additionally our Christmas voucher distribution cost £3,880. These together with the grants and £5,575 paid to St James’ Church represent 40% of our net investment income for the year.
We continue to receive a good variety of applications from community organisations and are ready to support more individuals & groups particularly as other sources of grant aid are reducing.
Marketing
Encouraging young people with extra-curricular activities is a significant object of the Trust. The Barton & Dunstall Key Trust Award for Leadership at John Taylor High School has been very well received and attracts considerable positive publicity for the Trust.
www.bartondunstallkeytrust.co.uk showing examples of projects we have supported and enabling potential applicants to download our Terms & Conditions and our Application Form is a valuable source of current information and promotion of the Trust. It is updated regularly.
We continue promoting the Trust by updating and distributing promotional posters and taking free or low cost closely targeted advertisements in local magazines and guides as well as requiring sponsored projects to promote the Trust in their literature and by plaques on buildings.
Despite the relatively small area of benefit and tightness of our communities it is evident that many people & local organisations are unaware of how we might assist. In addition to our poster and advertising campaigns we secure substantial free coverage of our activities in the local Press and the Barton Chime Parish magazine that circulates widely in our community.
Public Benefit Requirement
The Trustees feel that the performance in the year demonstrates that the Trust continues to meet the Public Benefit criteria whilst complying with the Trust Deed.
Approved on behalf of the Trustees on 6 February 2015 and signed on
their behalf by:
Adrian Wedgwood, Chairman