Ridgmont Chairty
(Registered Charity No: 1130405)
Tim Stokes - Chairman
Paul Francis - Vice Chairman
Helen Francis
Olivia Burrows
The Charity was created in 1973 to own and manage the old village hall. The hall ceased regular use in the 1990’s and was last used in November 2004 for the public inquiry which effectively kick started the Ridgmont bypass. It was then closed for many years before the charity trustees dealt with the many legal issues which had cropped up and finally sold the building in 2010. The net proceeds of the sale (the charity property or capital) are held in a range of deposit accounts. The net income from these deposits may be used for the charitable benefit of residents. The capital is locked as a permanent endowment.
Annual Report for the period ended 30 April 2018
30/04/18
We continue to focus our efforts on growing the charity’s assets (property) and keeping it on a sound financial footing. In these respects I am pleased to report growth in net income to £16,220, which represents an increase of 15% year on year and an overall increase in the charity’s assets to £224,599, which represents a 1% increase, year on year. Although, as I cautioned last year it has proved difficult to grow income, mainly due to the abnormally low interest rates, the charity continues to earn income considerably higher than the current bank rate.
The charity’s income (£16,220) is available to use for charitable purposes within the limitations of the charity’s objective and we would be very pleased to hear from residents who would like to organise village events or have ideas as to how the charity might fund anything which would provide charitable benefits to the village. I can be contacted on tim@1stwebbing.com.
Sadly, during the year we lost Peter Garratt who passed away on 4 April 2018. Peter had a lifetime connection with Ridgmont and was the appointee trustee of Ridgmont Parochial Church Council. He will be much missed.
Tim Stokes