Hoare Trust - Charity called the Hoare Allotment Field

This land was gifted to the Parish Council on 25th November 1872 to be held by them in trust as an allotment for the labouring poor of the Parish (land forming part of Itton Manor) by Peter Hoare. 28th February 1948 the allotment became superfluous and was sold. The proceeds were invested in an equivalent number of shares (226 units) in the Charity Commission. The nominal value of the shares appears in the accounts and the shares are unlikely to be sold. The income from these shares is accumulated in the NatWest Bank Account called the Hoare Account. The Hoare Allotment Field was registered as a charity on 28th October 1963 registration 204240 - for any public purposes for the general benefit of the inhabitants of South Tawton Parish. The proceeds can be spent ON ANY PURPOSE TO WHICH THE Parish Council is entitled to put capital money (Smallholdings and Allotments Act 1908 s.32(2)).

On 30th September 2021 the mid market value (net asset value) of one unit in the Fund was 1943.30 pence and the bid market value of one unit was 1940.44 pence giving our investment at that date a value of £4,391.86 and the bid market value of £4,385.39

All current councillors of South Tawton Parish Council serve as Trustees.

During 2021-22 STPC accepted a from Touchwood Designs of £899, for the design, concept, illustration, printing, site work and project management for the Mineral Stone information board, to be funded from the Hoare Allotment Field Charity Account which can be used for any public purposes for the general benefit of the inhabitants of South Tawton Parish, seconded by Cllr Crawford, all in favour and Resolved (RR008/22) Power to incur expenditure – Localism Act 2011 – GPC

31.3.22 the Balance held is £4,732.21 minus £899 to be deducted upon receipt of invoice.