Tirley Elm Estate & Almshouse Charity

Registered Charity No.202739

Report of the Trustees' for the year ending 31 December 2012.

Name of Charity ; Tirley Elm Estate & Almshouse Charity

Registered address: 5, Cotswold View, Tirley, Glos. GL19 4HN.

Scheme sealed by the Charity Commission 18 November 1987

Trustees:

Brian E Pegler ( Chair ), Mr Philip Quiney, ( Treasurer ),

Mrs Patricia Sharman, Mr Colin Franklin (Vice Chairman),

Rev. Rob Merchant (Ex-officio Trustee)to 30th April 2012,

Rev. John Longuet-Higgins (Ex-officio Trustee) from 11th November 2012, Mr Harry Warner, Mrs Laura Warner.

The Trustees are pleased to report that whilst meeting the objects defined in the Trust Deed sealed on 18th November 1987, namely the relief in need in accordance the provisions contained in the Scheme and for other charitable purposes for the benefit of the inhabitants of the Parish of Tirley, the financial viability of the Charity is sound. With continued unprecedented low bank interest rates, income from this source has reduced considerably over a sustained period. The stock market has remained very volatile throughout 2012 which means depending on which date the valuation of assets is undertaken, large fluctuations in value are apparent. However taking the year as a whole both income and capital growth have improved from COIF investments. The Trustees have continued a policy of investing for the longer term. The income from weekly maintenance contributions (WMC’s) were stable and turnover of tenants reduced to nil. Limited refurbishment was undertaken during the period in question and there were no WMC arrears at the end of the year. The Trustees, having held WMC’s at the same level for a number of years, are reluctantly increasing all WMC’s from April 2013, although the increase is less than that permitted by The Homes & Community Agency. This was necessary as a result of increased costs being experienced by the Trustees and to secure the future financial viability of the Charity. Tenants were pre-warned of the impending increase.

No progress has been made with attempts to recover money outstanding from a tenant who absconded as without a known address no court action has been possible.

The housing stock is generally in good order following recent refurbishment, improved access from the lower car park has been undertaken, fencing improvements have been made to protect properties from stock in adjoining land and also to the land owned at Corse Lawn. The Trustees have improved the maintenance of those areas of land for which they are responsible as an example to tenants in the hope they will keep the land for which they are responsible in a similar well maintained state.

The Trustees are pleased to confirm that there were no serious incidents that should have been notified to the Charity Commission during 2012.

Brian E Pegler

Chairman of the Trustees.