In 1922, the Marquess of Northampton granted ownership of a property within the village of Cotleigh to a group of Trustees for them to “…..use the income, rents and profits from that property in any manner which the Trustees may in their absolute discretion deem conducive to the spiritual, moral, intellectual or physical well-being of the inhabitants of the Parish of Cotleigh….”
Nearly one hundred years later, the Trust still exists and in September 2020 four new Trustees were appointed to replace the existing Trustees who wished to step down. The new Trustees are Len Spiller, Ian Piper, Janet Patch and John Woollacott.
Given the restrictions caused by the pandemic, the new Trustees have had limited opportunity to meet and it has taken longer than usual to arrange the transfer of the Trusts bank accounts etc. to the new Trustees. This work is now complete.
The current assets of the Trust comprise an amount of invested cash plus ownership of the playing field adjacent to the village hall. Although the new Trustees have only had limited time to assess the overall state of affairs, it is evident from the income and expenditure of the Trust for 2020 that income from investments did not fully cover the expenses of managing the playing field and associated children play area. As it stands, this means the fund has fallen below a level that is ‘self-sustaining’ and even if we only meet minimum obligations in respect of the playing field, the fund will diminish over time.
In light of this, the Trustees have discussed and agreed on an approach to utilisation of the Trusts funds going forward. The Trustees have agreed that any future utilisation of funds should be toward items that can potentially benefit the whole community, rather than individuals or small groups.
Should anyone have a great idea that would benefit the wider community please do let any of the Trustees know and it will be considered.
The Trustees can be contacted on email at firstname.lastname@example.org
Cotleigh Annual Parish Meeting will be held at 7.15pm on Wednesday 18th May. Please come along and hear reports from the village organisations.