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2021-03-31-accounts

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Charity Registration No. 1106837 Company Registration No. 05273395 (England and Wales)

BROADLANDS HOMES LIMITED

INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees M Snell
A Rice
1S J Dobbin
Rev D Croucher
. P J Conrad (Chair)
Secretary JAckroyd
Charity number 1106837
Company number 05273395
Registered office 12 Ponsford Road
Minehead ;
Somerset
United Kingdom
TA24 5DQ
Independentexaminer DA
ThatcherFCCA
Lentells Limited
Ash House
CookWay
Bindon Road
Taunton
Somerset
TA2 6BJ
Bankers NationalWestminsterBankPLC
Minehead Branch
9The Parade
Minehead
Somerset
TA24 5ZD
TSB Bank PLC
Minehead Branch
19 The Parade
Minehead
Somerset
TA245LU

Sollcitors Messrs Risdon Hosegood 18 Fore Street Williton Taunton Somerset TA4 4QD

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2BROADLANDS HOMES LIMITED | PERSONSINCLUDING| MINEHEAD, WATCHET & WILLITON HOMES FOR AGED LEGAL AND ADMINISTRATIVE INFORMATION

eee Investment advisors Investec Wealth and Investment Ltd 30 Gresham Street London EC2V 7QN

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS CONTENTS

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|||||| |---|---|---|---|---| |an| |Page| |Trustees|report|1-6| |Independent examiner's|report|8| |Statement|of financial|activities|9-10| |Summary|Income and|expenditure|account|11| |Balance|sheet|12-13| |Statement|of cash flows|14| |Notes|to the|financial|statements|15-30|

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED . PERSONS TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2021 eee

The trustees present thelr report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting pollcies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles the Companies Act 2006 and "Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Background information

Broadlands was established in 1945 to ‘provide a home or homes for aged persons within the Minehead, Watchet and Williton area...’ and although now In 2021 the language has changed, 'to provide supported living to the elderly retired...’ the objective remains unchanged.

Broadlands Homes Limited was incorporated as a charitable company on 29 October 2004 and took over the activities of Minehead, Watchet and Williton Homes for Aged Persons (charity number 230187) on 1 April 2006.

The Charity Commissioners for England and Wales Issued an Order, dated 22 January 2007, under which Broadlands Homes Limited was appointed trustee of the charitable trust Minehead, Watchet and Williton Homes for Aged Persons. Under the Order, title of the land and property known as Broadlands was also transferred to the charitable company to be held In trust for the charitable trust. The land and property remains. = the permanent endowment of the charitable trust Minehead, Watchet and Williton Homes for Aged Persons.

Under the Uniting Direction dated 22 January 2007 the charitable trust Minehead, Watchet & Williton Homes for Aged Persons Is to be treated as forming part of the charitable company Broadlands Homes Limited for the purpose of accounting as described by Part VI of the Charities Act 1993 (Part 8 of the Charities Act 2011) and these accounts Incorporate the financlal activities, llablilities and funds of both Broadlands Homes Limited and Minehead, Watchet and Williton Homes for Aged Persons.

The objectives of the charitable trust Minehead, Watchet and Williton Homes for Aged Persons, belng provision of a home or homes for aged persons within the Minehead, Watchet and Williton area, fall within the objectives of Broadlands Homes Limited as detalled below.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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Objectives and activitles The charity's objectives are to establish, operate and maintain accommodation with full board for elderly people within the district of West Somerset.

Broadlands provides full board, entertainment, outings, laundry and cleaning In a homely and friendly atmosphere, whilst at the same time keeping all income and costs under constant review.

Residents need to be capable of looking after themselves, but if not, an outside registered care provider attends the home to provide care, in the form of personal care and medication, which is paid for by the resident. When personal care reaches beyond a basic limit residents move on to other separate care homes or hospital. Achievement of the charity's aims is measured in terms of the level of occupancy and length of stay of our residents, together with feedback from staff and residents at regular meetings with the senior management team. One of the trustees aims to attend a meal at Broadlands on a monthly basis with a view to observing the running of the home, the welfare of residents and the Interaction of staff with the residents.

The charity does not use soclal investment or provide grants. All the trustees are volunteers.

Public Benefit

The long established !egal principle is, that to enjoy charitable status Broadlands must exist for a purpose which Is beneficlal to the community and it achleves thls by '... advancing health and assisting the aged/ disabled.’

The trustees have paid due regard to guidance issued by the Charity Commission of England and Wales in deciding what activities the charity should undertake and comply with the requirements of section 4 of the Charities Act 2011.

Achievements and performance

The Trustees have adopted a policy to continue with the improvement of facilities in residents’ accommodation by replacing baths with showers ensuite fo all rooms.

Regular resident and staff meetings were held during the year to provide information and receive comments. Residents were able to express thelr views and see thelr suggestions acted upon. Suggestions from staff to help improve the object of providing a friendly, happy and homely residence were welcomed and where appropriate were Implemented.

Broadlands is held In high regard in the local community. Staff are all local people with a good knowledge of the area and are therefore able to share fully with residents memories of the places and people that they knew or know.

In relation to the portfolio of investments managed by Investec, the trustees have selected a balanced investment objective with moderate risk, the investments have shown a 15.5% increase over the year with changes being made within the portfolio.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED . PERSONS ; TRUSTEES REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Oseee Financial review Total income for the year was £476,507 compared with £542,965 in the previous year and total expenditure was £495,701 compared with £524,890 in the previous year.

Realised and unrealised gains on investments assets in the year were £8,220 compared to losses of £5,171 in the previous year.

Overall net expenditure for the year was £10,974 including net Income of £7,365 relating to unrestricted funds with net expenditure of £3,273 relating to restricted funds and net expenditure of £15,066 relating to permanent endowment funds,

Princlpal funding sources and expenses

Broadlands’ main source of income is from rent paid by residents, which has historically been kept low. The main expenses are wages (the Trustees have always tried to pay the much valued staff a rate higher than support workers recelve locally) also food provision and repairs and renewals on a building over 100 years old as well as general operating expenses.

The charity received £3,484 under the Coronavirus Job Retention Scheme to assist with the cost of wages in the year as a result of the pandemic. A Government backed ‘Bounce Back' loan of £50,000 was introduced in December 2020 to assist the charitys == cashflow as it was identifiedthat there would be a shortfall from March 2021. Reserves pollcy .

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least two months gross expenditure. The trustees considers that reserves at this level will ensure that, in the event unexpected revenue requirements, they will be able to continue the charity's current activities while consideration Is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Net current assets at the year end amounted to £124,860 and there are Investments held, which could be sold if needed, with a market value of £42,460 at 31 March 2021. The amount of reserves held at the end of the year is considered to be consistent with the level of reserves identified by the trustees as appropriate given thelr plans for the future activities of the charity,

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 a

Signlficant events during the year

On 16 March 2020 the manager introduced a LOCK DOWN In view of the Corona Virus pandemic, restricting vislts from relatives and carers and instituting strict infection control measures. Mrs Stevie Cutler took up residence in Broadlands and remained there until the August relaxation of controls. The administrator Mrs Jill Ackroyd worked from home. The dedication of all the staff was exemplary and the trustees are indebted to the whole staff team.

Due to the lockdowns and the pandemic nothing of significance happened in the year as it was a case of making sure that all the residents were as safe as possible.

Occupancy rates are budgeted for at 88% but due to the pandemic as rooms emptied there was not any opportunity to fill those rooms. Moving forwards this is something that will try to be rectifled as there are 11 rooms empty at present.

Older people are now encouraged to stay in their own home with support from the community services and by the time that they are ready to give up their home their health issues require moving into a care home rather than supported living at Broadlands. Advertising and promotion at community events are ongoing, although this has been difficult due to the pandemic.

Broadlands rents are very competitive and the trustees are looking Into raising rents over a four year perlod so that by 2024 all rooms will be at a rent of £400 as will all new occupancies from now on.

The local mental health services regularly want to place clients with mental issues in Broadlands but the manager Interviews all potential cllents with a view to ensuring that behaviours do not adversely affect other residents.

Investment pollcy and objectives

The trustees' investment pollcy Is to maintain and enhance the real value of their Investments by Investing In a portfolio comprising equities, fixed income stocks and cash. The portfolio has been placed in the name of the stockbrokers Investec nominees and is managed by them in an advisory role. The trustees have selected a balanced Investment objective with moderate risk which will be reviewed on a regular basis.

The trustees operate an ethical investment policy In relation to the charity's portfolio of investments managed by Investec.

Principal risks and uncertainties

The trustees has assessed the major risks to which the charity Is exposed, and are satisfled that systems are in place to mitigate exposure to the major risks.

The trustees and senior members of the staff take great care to ensure the operation of the home conforms to health and safety legislation and there Is regular monitoring in this connection. The trustees are satisfied that there are adequate systems to minimise financial risks. There Is an annual budgeting process and meetings are held bil-annually to review Income and expenditure and if appropriate take remedial action.

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: BROADLANDS HOMES LIMITED ; INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS : TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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Plans for future perlods

Aims and key objectives for future perlods Broadlands has provided supported living for over 75 years and will continue to do so.

The charity will continue to provide affordable accommodation, excellent meals and facilities whilst at the same time keeping all income and costs under constant review to ensure the long term future of Broadlands.

The charity alms to fill the unoccupled rooms and then look to enhance the Broadlands experlence with the decor and maintenance.

Structure, governance and management

The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 October 2004. It Is registered as a charity with the Charity Commissioners.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the flnanclal statements were: M Snell A Rice E Stacey (Resigned 18 June 2021) Rev D Croucher P J Conrad (Chair)

Recrultment and appointment of trustees

New trustee appointments are proposed by existing trustees and appointed by vote at a general meeting. Trustees are not required to be members of the charity. The minimum number of trustees is flve and the maximum number eleven. Under certaln circumstances a member, who Is not a trustee, may also propose a person for appolntment as a trustee. One third of the trustees retire by rotation at each annual general meeting along with any trustees appointed since the previous annual general meeting. Retiring trustees may then be re-elected by the meeting.

Third party Indemnity Insurance pollcy

The charity maintains a third party indemnity insurance policy for the benefit of the trustees. The policy was in force during the year and remains in force at the time of approval of this report.

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None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 In the event of a winding up.

Organisational structure

The manager, S Cutler, Is responsible for the day-to-day running of the home, assisted by the administrator, J Ackroyd. They meet with a trustee member at least monthly, consulting about any issues arising. All major decisions regarding the home, including the appointment of senior staff are made by representatives of the trustees,

The Chairman and Vice Chairman are available to be contacted by the manager or administrator at any reasonable time to deal with urgent Issues. Both live locally.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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Trustees are asked to make two visits each year to Broadlands, as well as Board meetings, to spend time with residents and staff and to complete a questionnaire on thelr visit. This means one of the trustees will be visiting the home each month. With this being an unusual year due to the global pandemic, visits have not been regular, trustees have been kept up to date by staff. Bi monthly meetings of the trustees are held with the Senlor Management Team to review the financlal report and discuss room occupancy, bullding and equipment maintenance, staff and residence Issues.

The Chair and Vice of the Board meet with the management team monthly to review the above issues. This has been difftcult due to Covid, but regular contact has been made even if not with a physical presence.

Induction and training of trustees Following appointment all trustees are referred to the information available on the Charity Commission website page https:/Awww.gov.uk/government/publications/the-essential-trustee-what-you-need-to-know-cc3 in order to appraise them of their duties and responsibilities as trustees, They are also encouraged to discuss the affairs of the charity with other trustees in order to obtain a full understanding of the objectives of the charity and how these are met.

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Remuneration of the charity's key management personnel

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Pay and remuneration of the charity's key management personnel is determined by the trustees as part of an annual budgeting process that includes a review of pay and conditions for all members of staff within the organisation.

The Trustees raport was approved by the Board of Trustees. peste,.. Sloned.on.30/N8/21 @ 11:09 : P J Conrad (Chalr) Trustee Dated: ....cesccussteceeseres 1 ee -6-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021

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The trustees, who are also the directors of Broadlands Homes Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financlal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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Company Law requlres the trustees to prepare financial statements for each financial year which give a true and falr view of the state of affalrs of the charity and of the incoming resources and application of resources, including the Income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

~ select sultable accounting policles and then apply them consistently;

~ state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained In the financial statements; and

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROADLANDS HOMES LIMITED

aO_O | report to the trustees on my examination of the flnancial statements of Broadlands Homes Limited (the charity) for the year ended 31 March 2021.

Responsibllities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 46 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the charity's flnanclal statements carrled out under section 145 of the Charltles Act 2011 (the 2011 Act). In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under sectlon 145(5){b) of the 2041 Act. Independent examiner's statement Since the charity's gross Income exceeded £250,000 your examiner must be a member of a body fisted !n section 145 of the 2011 Act. | confirm that | am qualified to undertake the examinatlon because | am a member of , which Is one of the listed bodies.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

DA Thatcher FCCA Lentelis Limited Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ

Date: vacccccecertsensateerens

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |To|Tf|ss|9) )| |Current financlal year| |Unrestricted|Restricted|Endowment|Total|Total| |funds|funds|funds| |Notes|2021|2021|2021|2021|2020| |Income|from:|£|£|£|£|£| |Donations,|grants and|legacies|3|3,484|197|-|3,681|1,106| |Charitable activities|4|464,702|~|-|464,702|533,703| |Other trading|activities|5|7,186|-|-|7,186|6,949| |Investments|6|938|-|-|938|1,207| |Total Income|476,310|197|-|476,507|542,965| |Expenditure|on:| |Raising|funds|778|-|-|778|782| |Charitable|activities|7|470,959|3,470|-|474,429|504,718| |Other|11|5,428|-|15,066|20,494|19,390| |Total resources expended|477,165|3,470|15,066|495,701|524,890| |Net gains/(losses)|on|investments|12|8,220|-|oo|8,220|(5,171)| |Net movement|in funds|7,365|(3,273)|(15,066)|(10,974)|12,904| |Fund|balances|brought forward|151,920|5,925|304,451|462,296|449|392| |Fund balances|carrled forward|159,285|2,652|289,385|451,322|462,296|

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The statement of financtal activities Includes all galns and losses recognised in the year.

All income and expenditure derive from continuing activities.

The comparative fugures for the prior perlod are shown on the next page.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ;

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|||||||| |---|---|---|---|---|---|---| |a| |Prior financial year|Unrestricted|Restricted|Endowment|Total| |funds|funds|funds| |2020|2020|2020|2020| |Notes|£|£|£|£| |Income|from:| |Donations, grants and legacies|3|-|1,106|-|4,106| |Charitable|activities|4|533,703|-|-|533,703| |Other trading|activities|5|4,596|2,353|-|6,949| |Investments|6|4,207|-|-|1,207| |Total income|539,506|3,459|-|542,965| |Expenditureon:| |Raising funds|782|-|-|782| |Charitable|activities|7|501,865|2,853|-|504,718| |Other|11|4,755|-|14,635|19,390| |Total resources expended|507,402|2,853|14,635|524,890| |Net gains/(losses) on Investments|12|(5,171)|-|-|(5,171)| |Net movement in funds|26,933|606|(14,635)|12,904| |Fund balances brought forward|124,987|5,319|319,086|449,392| |Fund|balances|carrled forward|151,920|5,925|304,451|462,296|

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The statement of financial activities includes all gains and losses recognised In the year.

All income and expenditure derive from continuing activities.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

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|||||| |---|---|---|---|---| |TT|a| |All|Income|funds| |2021|2020| |£|£| |Gross income|476,507|542,965| |Galns/(losses)|on|Investments|8,220|(5,171)| |Total income|In the reporting|period|484,727|537,794| |Total expenditure|from|income funds|480,635|510,255| |Net Income|for the year|4,092|27,539|

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS

BALANCE SHEET

AS AT 31 MARCH 2021

AS AT 3131 MARCH 2021 AS AT 3131 MARCH 2021 AS AT 3131 MARCH 2021 AS AT 3131 MARCH 2021 AS AT 3131 MARCH 2021
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2021 2020
Notes £
£		 £
£
Fixed assets
Tangibleassets
Investments		 130
14		 330,669
42,460		 333,039
36,733
373,129 369,772
Current assets
Stocks
Debtors
Cash atbank and inhand		 18
17		 4,600
7,151
135,638		 4,200
42,511
98,602
144,389 112,313
Creditors: amounts falling due within
oneyear		 19 (19,529} (19,789)
Netcurrentassets 124,860 92,524
Totalassets lesscurrentllabilities 497,989 462,296
Creditors: amounts falling due after
morethanoneyear		 20 (46,667) -
Netassets 451,322 462,296
Capitalfunds
Endowmentfunds		 21 289,385 304,451
Income funds
Restrictedfunds
Unrestricted funds		 “2 22 2,652
159,285		 5,925
151,920
451,322 462,296

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: BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

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The company Is entitled to the exemption from the audit requirement contained In sectlon 477 of the Companies Act 2006, for the year ended 31 March 2021.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with sectlon 386 of the Act and for preparing financial statements which give a true and fair view of the State of affalrs of the company as at the end of the financial year and of Its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companles subject to the small companies regime.

The financtal statements were approved by the Trustees OM ...ceeseserssecesees

SERS...iySloned.on.20/0N21Oona@ 11:09 PJConrad (Chair) Trustee

Company Reg|stration No. 05273395

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

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||||||| |---|---|---|---|---|---| |TT| |2021|2020| |Notes|£|£|£|£| |Cash|flows|from|operating|actlvitles| |Cash generated|from operations|26|1,729|27,914| |Investing|activitles| |Purchase|of tanglble fixed|assets|(18,124)|(4,553)| |Purchase|of|investments|(6,778)|-| |Proceeds on|disposal|of|investments|9,271|-| |Investment Income|received|938|1,207| |Net cash used|in|Investing|activities|(14,693)|(3,346)| |Financlng|activities| |Repayment|of bank loans|50,000|-| |Net|cash|generated|from/(used|In)| |financlng|activities|50,000|-| |Net|Increase|in cash and cash equivalents|37,036|24,568| |Cash and cash equivalents|at beginning|of year|98,602|74,034| |Cash and cash|equivalents at end|of year|135,638|98,602|

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| BROADLANDS HOMES LIMITED ! PERSONSINCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 - ; eee 1 Accounting policles Charity information Broadlands Homes LImlted Is a private company limited by guarantee Incorporated in England and Wales. The registered office Is 12 Ponsford Road, Minehead, Somerset, TA24 5DQ, United Kingdom.

Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity Is a Public Benefit Entity as defined by FRS 102,

The financial statements are prepared in sterling, which Is the functlonal currency of the charity. Monetary amounts In these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to Include the fairrevaluationvalue. of freeholdThe principalpropertiesaccoun Ingandpoliciesto include adoptedInvestment are set outoropertiesbelow, and certain_financial_instruments-at——_ . ——

At the time of approving the financlal statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of thelr charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. :

1.4 Income Income is recognised when the charity Is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donatlons are recognised on recelpt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable In relation to donations received under Gift Ald or deeds of covenant is recognised at the time of the donation.

Legacles are recognised on receipt or otherwise if the charity has been notified of an impending distributlon, the amount Is known, and receipt is expected. If the amount is not known, the legacy Is treated as a contingent asset.

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

TT 1 Accounting pollcles (Continued)

1.5 Expenditure All expenditure is recognised once there Is a legal or constructive obligation to that expenditure, It is probable that settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs can not be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the proportion of the asset's use. Other supports costs are allocated based on the spread of staff costs.

Ralsing funds These are costs Incurred in attracting voluntary Income, the management of Investments and those incurred in trading activities that ralse funds.

Charitable activities Charitable expenditure comprises those costs Incurred by the charity in the delivery of Its activities and services for its beneficiaries. {t includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Supports costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by thelr usage.

Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements including independent examination, strategic management, trustees meetings and reimbursed expenses.

1.6 Tangible fixed asseta Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Individual fixed assets costing £200 or more are capitalised.

Depreciation is recognised so as to write off the cost or valuation of assets less thelr residual values over their useful lives on the following bases:

Freehold land and buildings Straight line 25 to 50 years Fixtures and fittings Straight line 10 to 20 years Furniture and equipment No depreciation Computers Straight line 4 years The gain or loss arising on the disposal of an asset Is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net Income/(expenditure) for the year. No depreciation Is charged on general furniture and equipment as replacements of those items are treated as revenue expenditure and written off in the year they are incurred.

----- Start of picture text -----
'
----- End of picture text -----

eT -16-

BROADLANDS HOMES LIMITED INCLUDINGPERSONS MINEHEAD, WATCHET & WILLITON. HOMES FOR AGED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

eee 1 Accounting policies (Continued)

1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such Indication exists, the recoverable amount of the asset Is estimated in order to determine the extent of the Impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition, Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net reallsable value Is the estimated selling price less all estImated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabllities. —

1.11 Financial Instruments The charity has elected to apply the provisions of Sectlon 11 ‘Basic Financial Instruments’ and Sectlon 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised In the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there Is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective Interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, Financial assets classified as receivable within one year are not amortised.

Basic financlal Habilitles

Basic financial llabilitles, Including creditors and bank loans aro Initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, Financial liabllities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabllities If payment is due within one year or less, If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method,

ee -17-

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BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a 1Accounting policles (Continued)

Derecognition of financial Habilitles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits The cost of any unused holiday entitlement Is recognised In the perlod in which the employee's services are recelved.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits Payments to defined contribution retirament benefit schemes are charged as an expense as they fall due.

4.14 Fund structure General funds are unrestricted income funds which are available for use at the discretion of Trustees in furtherance of the general the general general objectives of the the charity which which have not been designated been designated designated for other purposes. other purposes.

: furtherance of the general the general general objectives of the the charity which which have not been designated been designated designated for other purposes. other purposes. , 2 Critical accounting estimates and Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoclated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or In the period of the revision and future periods where the revision affects both current and future periods.

3 Donations, grants and legacies

Donations, grants and legacies
Unrestricted Restricted Total Restricted
funds funds funds
2021 2021 2021 2020
£ £ £ £
Donationsand glfts
CoronavirusJob RetentionSchemegrants		 -
3,484		 197
-		 197
3,484		 1,106
-
3,484 197 3,681 1,106

TO‘

-18-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

oOoeeesss 4 Charltable activities

----- Start of picture text -----
|||||| |---|---|---|---|---| |Fees|from|Fees|from| |residents|residents| |2021|2020| |£|£| |Accommodation and welfare|434,329|502,599| |Outsourced|services|for residents|30,373|31,104| |464,702|§33,703|

----- End of picture text -----

5 Other trading actlvitles

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted|Unrestricted|Restricted|Total| |funds|funds|funds| |20242020___|29290-9929|——--|———_—| |rr|£|£|£| |Sates of good and services to residents|7,186|3,772|-|3,772| |Other goods and|services|-|824|-|824| |Fundraising|events|-|-|2,353|2,353| |Other trading|activities|7,186|4,596|2,353|6,949|

----- End of picture text -----

6 Investments

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2021|2020| |£|£| |Income from|listed|investments|914|1,113| |Interest receivable|24|94| |938|1,207|

----- End of picture text -----

OT

-19-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

|

:

;

FOR THE YEAR ENDED 31 MARCH 2021

TT 7 Charltable activitles

: 2021 2020
£ £
Staffcosts
Provisions
Outsourced servicesforresidents
Rent.waterand rates
Heatand light
Insurance
Property repairsandmaintenance
Telephone
Equipmentrepairsandrenewals
Hire ofequipment
Gardening, laundryand cleaning
Advertising		 - 327,202
30,940
28,221
9,769
26,775
4,209
10,823
1,151
11,182
2,132
5,422
2,072
525		 331,321
32,772
27,946
40,121
26,024
4,180
49,024
1,175
26,183
1,780
9,412
1,917
770
Bank charges
Residentswelfareandsundry
Printing, postageandstatlonery
Legaland professionalfees		 7,586
697
2,123		 5,004
1,162
2,074
470,829 500,865
Shareofgovernancecosts (see note8) 8) 3,600 3,853
474,429 504,718
Analysis byfund
Unrestrictedfunds
Restrictedfunds		 470,959
3,470		 501,865
2,853
474,429 504,718

-20-

7

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

oooeeea 8 Support costs

Support costs
SupportGovernance
costs
£		 Governance
costs
£		 2021
£		 Support
costs
gE		 Governance
costs
g		 2020
£
Independent
Examination fees
Accountancy
Companies House flling
fee		 -
-
-		 720
2,867
13		 720
2,867
13		 -
-
-		 720
3,120
13		 720
3,120
13
- 3,600 3,600 - 3,853 3,853
Analysed between
Charitableactivities - 3,600 3,600 - 3,853 3,853

9 Trustees

of the trustees ( ¥ Persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
22 26
Employment costs 2021 2020
. £ £
Wagesandsalaries
Social securitycosts
Otherpensioncosts		 298,957
15,259
12,434		 311,371
15,097
4,357
327,202 331,321

Wages and salaries includes £552 (2020: £496) in respect of staff training and DBS checks. No employee received emoluments of more than £60,000 during the year.

OT

-~21-

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: :

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

CSI

11. Other
Unrestricted
funds
2021		 Endowment
funds
permanent
2021		 Total
£
2021		 Unrestricted
funds
2020		 Endowment
funds
permanent
2020		 Total
£
2020
Net loss on disposal of
tangible fixedassets		 382 - 382 911 - 911
Depreciation oftangible
fixed assets		 5,046 15,066 20,112 3,844 14,635 18,479
5,428 15,066 20,494 4,755 14,635 _19,390

42 Net galns/(losses) on Investments

Net galns/(losses) on Investments
: Unrestricted Unrestricted
funds funds
2021 2020
£ £
Unrealised gain/(loss) on investments
Realised galn/(loss)onsaleofInvestments		 5,854
2,366		 (5,171)
-
8,220 (5,171)

TT ~ 22 -

|

.

‘ :

.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021		 BROADLANDS HOMES LIMITED
INCLUDING MINEHEAD, WATCHET & WILLITONWATCHET & WILLITON& WILLITONWILLITON HOMES FOR AGEDFOR AGEDAGED
PERSONS
NOTES TO THETO THETHE FINANCIAL STATEMENTSSTATEMENTS (CONTINUED)
FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021MARCH 20212021
TT
eee
13 Tanglble fixed assets
Freehold tand
andbuildings		 Fhxturesand
fittings		 Furnitureand
equipment		 Computers Total
Cost £ £ £ £ £
At 1 April2020
Additions
Disposals		 605,916
-
-		 4,974
-
~		 178,105
18,000
(410)		 1,813
124
-		 790,808
18,124
(410)
At31 March2021 605,916 4,974 195,695 1,937 808,522
Depreciation and impalrment
At 1 April 2020
Depreciation charged Intheyear
Eliminated In respectofdisposals		 309,457
15,066
-		 -
-
-		 146,499
5,015
(28)		 1,813
31
-		 457,769
20,112
(28)
At 31 March2021 324,523 - 151,486 1,844 477,853
Carrying amount
At31 March2021 281,393 4,974 44,209 —__93 330,669___..___
At 31March2020 296,459 4,974 31,606 - 333,039

14 Fixed asset investments

Listed
investments
Cost orvaluation £
At 1 April2020
Additions
Valuation changes
Disposals		 36,733
6,778
7,202
(8,253)
At 31 March2024 42,460
Carrying amount
At 31 March2021 42,460
At31March2020 36,733

Fixed asset Investments revalued

The listed investment as included at the market value per the vafuation report from Investec Wealth and Investment Ltd at the balance sheet date.

Te ~23-

|

|

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

.

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |a| |14|Fixed asset investments|(Continued)| |15|Financlal|Instruments|2021|2020| |£|£| |CarryIng|amount|of flnanclal|assets| |Instruments|measured|at fair value through|profit or loss|42,460|36,733| |16|Stocks|2021|2020| |£|£| |Provisions and other consumables|1,600|1,200| |17|Debtors|2021|2020| |Amounts|falling due within one year:|£|£| |Trade debtors|4,424|9,064| |-|114| |Other|debtors| |Prepayments and accrued|income|2,727|3,333| |7,151|12,511| |48|Loans and|overdrafts|2021|2020| |£|£| |,| |Bank loans|50,000|-| |Payable within|one year|3,333|-| |Payable|after one year|46,667|-|

----- End of picture text -----

,

The loan relates to a Government backed ‘Bounce Back’ loan which has a total repayment perlod of 6 years, with no capltal or interest repayments falling due in the first year. Interest is charged on the loan at 2.5%.

a ~24-

| |

, :

BROADLANDS HOMES LIMITED PERSONSINCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |To|ee| |19|Creditors:|amounts falling|due|within|one year| |2021|2020| |Notes|£|£| |Bank loans|18|3,333|-| |Other taxation|and|social|security|12|12| |Trade creditors|10,668|14,403| |Accruals and deferred|Income|5,516|5,374| |19,529|19,789| |20|Creditors:|amounts|falling|due|after more|than one year| |2021|2020| |Notes|£|£| |Bank loans|18|46,667|-|

----- End of picture text -----

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eee

22 ~=~Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances:

Movement In funds Movement In funds Movement In funds Movement In funds
1 Balance at
April2019		 Incoming
resources		 Resources
expended		 Balance at
1 April2020		 Incoming
resources		 Resources
Balanceat
expended 31 March 2021
£ £ £ £
Residents ,
funds 5,319 3,459 (2,853) §,925 197 (3,470)
2,652

Restricted funds are funds that are to be used in accordance with specific restrictions Imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering any such funds are charged against the fund In question.

The ‘Residents funds' fund is maintained for the purpose of holding funds donated spectfically for funding activities for the residents at Broadlands.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) . FOR THE YEAR ENDED 31 MARCH 2021

eee

24 Operating lease commitments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: :

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2021|2020| |£|£| |Within|one year|2,606|3,744| |Between|two and|five|years|8,755|9,173| |In over five years|4,195|6,384| |15,556|19,301|

----- End of picture text -----

25 Related party transactlons

Remuneration of key management personnel!

The remuneration of key management personnel Is as follows.

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |cc7)? ce|?| |£|£| |Aggregate|compensation|63,215|60,127| |26|Cash|generated from operations|2021|2020| |£|£| |(Deficit)/surpus|for the year|(10,974)|12,904| |Adjustments|for:| |Investment|income|recognised|in statement|of financial|activities|(938)|(1,207)| |Loss on|disposal|of tangible flxed|assets|382|911| |Gain|on|disposal|of Investments|(2,366)|-|:| |Fair value gains and|losses on|investments|(5,854)|5,171| |Depreciation|and|impairment of tangible fixed|assets|20,112|18,479| |Movements|in|working|capital:| |(Increase)|in|stocks|(400)|-| |Decrease/(increase)|in debtors|5,360|(2,663)| |(Decrease)|In|creditors|(3,593)|(5,681)| |Cash generated|from|operations|1,729|27,914|

----- End of picture text -----

eee ~29-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FOR AGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021 FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021 FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021 FOR THE YEAR ENDEDYEAR ENDEDENDED 31 MARCH 2021
a
27
.		 Analysis ofchanges In netfunds At 1 April 2020
£		 Cash flowsAt 31 March 2021
£
£
Cash atbankand inhand 98,602 37,036
135,638
Loans falling due withinoneyear
Loans falllngdue aftermorethanoneyear		 -
-		 (3,333)
(3,333)
(46,667)
(46,667)
98,602 (12,964)
85,638

a -30-