2023-03-31-accounts

Charlty Reglstratlon 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 2023 Lentells Chartered Certified Accounianis

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS LEGAL AND ADMINISTRATIVE INFORMATION Tw$t¢¢s hA Snell A RI￿ {Chairl I S J Dobbin P J Conrad IWi¢e Chairl R Bevers (Appointed 16 August 20221 Se¢￿tary J Ad(royd Charity number 1106837 Company number 05273395 Registered office 12 Ponsford Road Minehead Somersel Uniled Kingdom TA24 5DQ Independent examiner D A Thatcher FCCA Ash House Cook Way Bindon Road Taunton Somerset TA2 6BJ Bankers National Westminster Bank PLC Minehead Branch 9 The Parade Minehead Somerset TA24 5ZD TSB Bank PLC Minehead Bran 19 The Parade Minehead Somer5et TA24 SLU Solicitors Messrs Risdon Hosegood 18 FO￿ Streel Williton Taunton SomeT5et TA4 4QD Investment advisors Investec Wealth and Investment Ltd 30 Gresham Street London EC2V 7QN

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS CONTENTS Page Trustees reKM)rt Independent examinevs report ststemenl of financial actiw.ties Summary income and expenditure account 10 Balance sheet Statement of cash flows 13 Notes to the finanual ststements 14-29

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their annual and finan(ial ststements for the year ende(J 31 March 2023. The financial stsleTnenls have been prepared in accordan￿ with the accounting policies sel out in note 1 to the financial ststements and comply with the charivs Memorandum and Arb"cles the Companies Acl 2006 and "Accounting and Reports"ng by Charities". Ststement of Recommended Practi￿ applicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102} leffeclive 1 January 20191.. Ba¢kground infomiation Broadlands was established in 1945 to 'provide a home or homes for age(1 persons within the Minehead, Watchet and Williton a￿a... and although now in 2023 the language has changed, 'to provide supported living to the elderly retired.. ' the objective remains unchanged. Broadlands Homes Limited was incorporated as a charilable company on 29 October 2004 and took over the activities of Minehead, Watchel and Williton Homes forAged Persons (charity number 2301871 on 1 April 2006. The Chanty CommissioneTS for England and Wales issued an Order, dated 22 January 2007, under which Broadlands Homes Limited was appointed trustee of the charitable trnst 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 trusl. 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 Ihe charitable Irust Minehead, Watchet & Williton Homes for Aged Persons is to be treated as forming part of Ihe charitable compaT)y Broadlands Homes Lirlliled for the purpose of accounting as described by Part Vl of the Charilies Acl 1993 (Part 8 of the Charities Act 20111 and these accounts incorporate the financial activities, liabilities and funds of both Broadlands Hornes Limf(ed and Minehead, Watchet and Williton Homes forAged Persons. The objectives of the charitable trust Minehead. Walchel and Williton Homes for Aged Persons, being provision of a home or homes for ageé persons within the Minehead, Watchet and Wlllrton area, fall within the objectives of Broadlands Homes Limited as detsiled below.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Obl¢ctlves and a¢tlvitie$ The charity's objectives are to establish. operale and mainlain accommodation wilh full board for elderfy 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 theTnselves. but rf not, an outside registered care provider attends the home lo provide care, in the forTn of personal care and medication. which is paid for by the resident. When personal care reaches beyond a basic limit residerrts move on to other separate care homes or hospital. Achieverllenl of the charity's aims is measured in terms of the level of occupancy and length of stsy of our residents, together with feedback from staff and residents al regular meetings with the senior man8gemenl team. One of the trustees aims lo attend a meal al Broadlands on a rr￿nthlY basis wrth a view lo observing the running of the home, the Welfa￿ of residents and the inlerath.on of stsff wth the residents. The charity does not use social investment or provide grants. All the ttuslees are volunteers. Publ1¢ Beneflt Thè long 8Stablish8d lègal prinuple is, that to enjoy charitable status Broadlands must exist for a purposè which is beneficial to the community and it achieves this by.. advanang health and assisting the agedldisabled.. The Iruslees have paid due regard to guidance issue(I by the Charity Commission of England and Wales in deciding what activities the charty should undertake and compty with the requirements of section 4 of the Charities Act 2011. Achievements and performance The Trustees have adopted a FK)licy to ¢x)ntinue wlh the improvement of facilities in residents, acwmmodab'on by replacing baths with showers ensuite to all rwms. Regular resident and staff meetings were held during the year to provide infornialion and re￿1ve comments. Residents were able to express their views and see their suggestions acted upon. Suggestions from staff lo help irnprove the object of providing a friendly, happy and homely residence were welcomed and where appropriate were irllplemenled. Broadlands is held in high regard in the local communty. 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 Injstees have selected a balanced investment objective with moderate risk, the investments have shown a 8.1% decrease over Ihe year with minimal changes being made within the portfolio.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Flnan¢lal r¢vl¢w Total income for the year was £460,440 compared with £474,046 in the previous year and total expenditure was £517,040 compared with £498,070 in the previous year. Realised and unrealised gains on investments assets in Ihe year were £nil compared to £2,D17 in the previous year, with an unrealised loss on investment assets in the year of £4.561 compared to £nil in 2022. Overall nel expenditure for the year was £61,161 including net expendrture of 50,043 relating to unrestricted funds with nel income of £2,821 relating to Teslricted funds and net expenditure of £13,939 relating to permanent endowment funds, Principal funding sources and expenses Broadlands. rnain source of income is from rent paid by residents. whith ha5 historically been kept low. The main expenses are w8ges Ithe Trustees have always tried to Pay the muGh valued staff a rale higher than support workers receive locally) also food provision and repairs and renewals on a building over 100 years old as well as general operating expenses. A Govemment ba¢ked 'Boun¢e Ba¢k' loan of £50,000 was introduced in December 2020 to assist the charitys cash flow as it was identrfi8d that th8rè would be a shortfall from March 2021. Repayments have Continued, leaving a balancé of £38,OS1 at the year end. Reserves policy 1115 the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained al a level equivalent lo al least iwo months gros5 expenditure. The tru51ees considers that reserves al this level will ensure that, in the event unexpected reverhue requirements, they will be able lo continue the charity's urrenl activities while consideration is given lo ways in which addib.onal funds may be raised. This level of iesetves has been maintained throughout the year. Net Current assets at the year end amounted to £52,360 and there a￿ investments held, which Could be sold rf needed, with a market value of £51.657 at 31 hAar¢h 2023_ The amount of reserves held at the end of the year is ¢onsidered to be Consistent with the level of reserves hdentifhed by the trustees as appropriate given their plans for the fUtL1￿ activities of the ¢harity. Significant events during the year Due to the aftereffecls of Covid we have had to adapt our approach to day-to-day procedures. admissions and staffing to ensure the continued safety of our clients. vi5ttors and staff. With the e8se of Govemmenl guidelines, visilalion to supported living setting h¥d changed. ¥llowing more family and friends into the Home. however, the dedication of 011 stsff remained exemplary, maintsining high levels of IPA and the implementation of ￿levant PPE. O¢¢upan¢y rates are budgeted for al 88% but due to the last affects of Ihe pandemic, rooms ￿Mained empty for longer as people were ￿1￿clan1 to enter into multiple o¢¢upan¢y settings. Within the community, older people are now encouraged to stay in their own home with support from the community ServI￿S 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. Adve￿sIng and promotion at community events are ongoing, although this has been difficult due to the current culture following the pandemic. Broadlands rents are very competitive and will increase eath year in line with costs. The local mental health ServI￿S regularfy want to pla￿ dients with mental issues in Broadlands but the manager interviews all rx)tential clients with a view to ensuring that behaviours do not adversely affect other residents.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investment poli¢y and obJe¢tiv¢$ The trustees. investment policy is to maintain and enhan￿ the real value of their investments by investing in a portfolio comprising equilies, fixed income SIC￿kS and cash. The portfolio has been pla￿d in the name of the stockbrokers Investec nominees and is managed by them in an advisory role. The trLJStees 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 Chari￿s portfolio of investments managed by Inveslec. Prln¢lpal rlsk$ and uncertalntle$ The tnjstees has assessed the major risks to whith the charity is exposed. and are satisfied that systems are in place to mitigale 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 regLJlar 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 bi- annually to review income and expenditure and if appropriate take remedial action. Plan$ for future p¢rlod$ Aims and key objectives for future periods Broadlands has provided supported living for over 75 years and will continue lo do so. The charity will conb'nue to provide afft)rdable accommodation, ex￿lIent meals and facilities whilst at the same lime keeping all income and costs under constant review to ensure the long lerm future of Broadlands. The charity aims to fill the unoccupied rooms and then look to erbhan￿ the Broadlands experien￿ with the decor and maintenance. L. Williams and J. Ackroyd will focus their efforts on advertising and widening the social media plarform for Broadlands. Furthermore, they will endeavor lo secure Broadlands. place in the current market following the sectors ongoing changes, thus aiding lo boost ¢xcupancy. The main drive moving fO￿ard will be to ensure the local area is aware of what Broadlands has to offer and in the safe manner in which it works to promote independence, dignity and diversity. Structure. govemance and management The charity is 8 company limtted by guar8ntee govemed by its Memorandum 8nd Articles of Asso¢i¥tion dated 11 October 2004. 11 is regISte￿d as a charity with the Charity Commissionets. The trustees, who are also the directors for the purpose of company law. and who seNed during the year and up to the date of signature of the financial ststements were= M Snell A Rice (Chairl I S J Dobbin P J Conrad (VI￿ Chairl R Bevers V Wilson {Appointed 16 August 20221 {Appointed 16 August 2022 and resigned 29 November 20221

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Re¢wltment and appointment of trustees New trustee appointments are proposed by existing trustees and apwinted by vote at a general meeting. Trustees are not reqLJired to be members of the charity. The minimum number ol trustees is five and the maximum number eleven. Under ￿rtain circuMstan￿S a member, who is nol a trustee. may also propose a person for appointment 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 Irustees may then be re-elected by the meeting. Qualifying third party indemnity provisions The charity maintains a third party indemnity 1nstJran￿ policy for the benefit of the trustees. The rK)licy was in force during the year and remains in force at the time of approval of this report. None of the trustees has any benefi￿al interest in Ihe company. AJI of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. Organisational structurè The manager, L Williams, is responsible for the day-l￿daY running of the home, assisted by the administrator, J Ackroyd. L Williams took over from previous manager S Cutler in August 2022. L Williams, J Ackroyd and a trustee member will discuss, either in person or via telephone. any issues arising. Any other business or concems will be addressed at the allocaled board meeting bi-monthly. All major decisions regarding the home, induding the appointment of senior staff are made by representatives of the Injstees. The Chaimian and Vice Chairnian are available to be contacted by Ihe manager or administrator at any reasonable time to deal with urgent issues. Both live l(Kally. Al the annual general meeting in August 2022, A RI￿ lojk over as Chaimian from P Conrad, who stepped back to become Vice Chair. Truslees are asked lo make visits each year to Broadlands, as well as Board meetings, to spend time with residents and staff and to complete a questionnaire on their visii. This means one of the trustees will be visiting the home each month. With the p￿vIOuS years being unusual due lo the global pandemic. visits have not been regular, however there is encouragement for this is increase again. Bi monthly meetings of the trustees are held with Ihe Senior Managemenl Team to review the financial report and discuss r￿M occupancy, building and equipment maintenan￿, staff and residence issues. The Chair and WI￿ of the Board meet with the managemenl team monthly to review the above issues. Induction and tralning ¢f trustees Following appointment all tnjslees are referred lo the infomiation available on the Charity Commission website page https.'Ilwww.gov.uklgovernmenUpublicationsllhe-essential-trustee-what-you-need-tO-know-cc3 in order to appraise them of their duties and restx)nsibilities 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. Remuneration of the ¢harity's key management petsonnel Pay and remuneration of the charity's key management personnel is detemiined by the trustees as part of an annual budgeting pro¢ess that indudes a review of pay and Conditions for all members of staff within the organisats'on.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Trustees report was approved by the Board of Trustees. .SiQn¢dno.J.4￿7I28 @ 15."16 A Rice (Chairl Trust00 Dale..

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROADLANDS HOMES LIMITED I report to the trustees on my examination of the financial ststements of Broadlands Homes Limited (the charity) for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the ¢harity land also its dire¢lors for the purposes of Company lawl you are responsible for the preparation of the finanoal ststements in accordan￿ wth the requiremenis of the Companies Ad 2006 (the 2006 Act). Having satisfied myself that the financial ststemenls of the charity are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examinab"on. I report in respect of my exarnination of the charity's financial ststements carried out under seGtion 145 of the Charities Act 2011 (the 2011 Actl. In carrying out my examination I have followed all the appli¢able Directions given by the Charity Commission under se¢tion 14515llbl of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. l ¢onfimi that l am qualified lo underlake the examination because l am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no r￿att￿5 have ¢x)me to my attention in connection with the exarnination giving me cause to believe that in any material respect.. accounting rècords wère not kept in resp8Ct of the charity as required by section 386 of the 2006 A¢t,' or the financial statements do not accord with those records. or the financial statements do not comply with the acLx)unling requ1￿MentS of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the financial ststements have not been p￿pared in accordan￿ with the methods and principles of the ststement of Re¢ommended Pra¢ti¢e for a¢¢ounting and ￿pOrting by ¢harities appli¢able to charities preparing their ac¢ounts in a¢¢ordan¢e with the Financial Repo￿ng Standard appli¢able in the UK and RepLJblic of Ireland IFRS 102}. I have no concems and have come across no other matter5 in connection wth the examination to which attention should be drawn in this reFK)rt in or(ler lo enable a proper understanding of the financial slalements lo be reached. 81gned on I4107.￿3 @ 1S25 D A Thatcher FCCA Ash House CcK)k Way Bindon R(iad Taunton Somerset TA2 6BJ Dated..

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Current financial year Unrestricted Restricted Endowment funds funds fvnds 2023 2023 2023 Total Total 2023 2022 Income from: Donations, gr8nls 8nd leg8cies Charitable activities Other trading activities Investments 500 450,857 4,963 1.312 3,308 3,808 450,857 4,963 1,312 11,862 454,310 7,161 713 Total income 457,632 3.308 460.940 474,046 Ex ndlture on: Raising funds 588 Charitable activities 497,035 487 497,522 477,694 Other 12 6,079 13.939 20,018 19.619 Total expenditure 503.114 487 13,939 517.540 497,901 Net gainslllossesl on investments 13 14,5611 14.5611 2,017 Net movement in funds 150,0431 2,821 113,9391 161,1611 121,8381 Net movement in funds 150,0431 2,821 113.9391 161,1611 121,8381 Fund balances at 1 April 2022 141,882 12.456 275,147 429,485 451,323 Fund balances at 31 March 2023 91,839 15,277 261,208 368,324 429,485 The ststement of financial activities includes all gains and losses recognise(l in the year. All income and expendtture derive from continuing actiw"ties.

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Prior financial y8ar Vnrestricted Restricted Endowment funds nds funds 2022 2022 2022 Total 2022 Noles Income from: Donations, gr8nls 8nd leg8cies Charitable activities Other trading activities Investments 1.236 454.310 7.161 713 10,626 11,862 454,310 7,161 713 Total income 463.420 10,626 474,046 Ex ndlture on: Raising funds 588 588 Charitable activities 476.871 823 477,694 Other 12 5.381 14,238 19.619 Total expenditure 482,840 823 14.238 497,901 Net gainslllossesl on investments 13 2.017 2,017 Net movement in funds {17,4031 9,803 114,2381 121,8381 Fund balances al 1 April 2021 159,285 2,653 289,385 451,323 Fund balances at 31 March 2022 141.882 12,456 275,147 429,485

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 All Incom¢ fund$ 2023 2022 Gross income (Lossesygains on investments 460,940 14,561) 474,046 2,017 Total income in the reporting period 456,379 476,063 Totsl expenditu￿ from income funds 503,601 483,663 Net expenditure for the year 147,222) {7,6001 10-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS BALANCE SHEET ASAT31 MARCH2023 2023 2022 Notes Flxed assets Tangible assets Investments 15 16 292,526 51,657 311,485 56,218 344.183 367,703 Current assets Stocks Debtors Cash at bank and in hand 17 18 1.600 6,019 77.￿5 1,600 8,595 126,420 136,615 Creditors.. amounts falling due within one year 20 132.324) 136,7821 Net current assets 52,360 99,833 Total assets less current liabilities 396.543 467,536 Creditors.. amounts falling due after more than one year 21 128.219) 138,0511 Net assats 368.324 429,485 Capital funds Endowment funds- general Income funds Restricled funds Unrestricted funds 22 261,208 275,147 23 15,277 91.839 12,456 141,882 368,324 429,485 11

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS BALANCE SHEET (CONTINUED) ASAT31 MARCH2023 The ¢ompany is entided to the exemption from the audit reqU1￿ment wnlained in section 477 of the Companies Act 2006. for the year ended 31 March 2023. The director ackno%￿edge5 his responsibilities for ¢x)mplwng wrth the requirewnen15 of the Companie5 Act 2006 wth respect lo accounting record5 and the preparation of financial statements. The members have not required the company to obtain an audit of its finanaal statements for the year in question in accordance with section 476. These financial statements have been prepared in accordan￿ with Ihe provisions applicable to companies subject to Ihe small companies regime. The financial statements were approved by the Trustees on ......................... .BJ￿e￿J)r￿.l4xV￿8 @ 15".16 A Rice (Chairl Tw$tee Company registration number 05273395 12-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Noles Cash flows from operating a¢tivltles Cash (absorbed byllgenerated from operats'ons 27 141.078) 4,303 Inve$llng a¢tlvltle$ Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment income re￿iVed 11331 158,3951 46,654 713 1,312 Net cash generated fromllused inl investing activities 1.312 111,1611 Financing activities Repayment of bank loans {9.589) 12.3601 Net cash used in financing activities 19.589) 12,3601 Net decreas¢ In cash and cash equlvalents 149,355} 19,2181 Cash and cash equivalents at beginning of year 126,420 135,638 Cash and cash equivalents at end of year 77.065 126,420 13-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting poli¢ies Charity infomiation Broadlands Homes Limited is a private company limited by guarantee incorrK>rated in England and Wales. The registered offi¢e is 12 Ponsford Road, Minehead, SomerseL TA24 5DQ, United Kingdom. Each of the trustees is liable to tt>ntribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation. 1.1 A¢¢ounting convention The financial stalemenis have been prepared in accordan￿ with the charity's tgoverning documentl, the Companies Act 2006, FRS 102 °The Finanual Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102.1 and the Charities SORP -Accounting and Repo￿ng by Charities.. Siatement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 JanLJary 20191. The charity is a Public Benefit Entity as defined by FRS 102. The finan¢ial statements are p￿pared in steding. which is the fvn¢tional currency of the ¢harily. Monetsry amounts in these finanual ststements are rounded to the neare* £. The financial stslements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and lo indude investment properties and certain financial instruments al fair valuel. The principal accounting policies adopted are Sel out below. 1.2 Going concern Al the lime of approving the financial statements. the trustee5 have a reasonable expectation that the charity has adequate resources to conb.nue in operational existence for the foreseeable futu￿. Thus the trustees continue to adopt the going con¢em basis of accounting in preparing the finan¢ial ststemenls. 1.3 Charitable funds Unrestricted ftjnds are available for use at the discrebon of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by dor)ors as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the financial statements. Endowment funds are subject to spectfic corvjitions by donor5 Ihal the caprtal musl be maintsined by the charity. 1.4 In¢ome Income is recognised when the charity is legally entiued lo it after any petfomiance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. 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 re￿iVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwse rf the charity has been notified of an impending dislribulion, the amount is known, and re￿ipt Is expecte(l. If the amount is not kn¢)wn. the legacy is Irealed as a conlingenl asset. 14-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.5 Expenditur 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 sirnilar cL)sts to that category. Where costs can not be directly attributed to particular headings they have been allocated on a basis consistent wtth the use of resources, with central staff costs allocated on the basis of time spent, and deprecjation charges allocated on the proportion of the assefs use. Other supports costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attracting voluntsry income. the management of investments and those incurred in trading adivities that raise funds. Charltabl• actlvltlès Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It indudes both costs that can be allocated direcily to such activities and those costs of an indirect nature necessary to suptK>rt 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 their usage. Governance costs These indude the costs attributable lo the Charit￿s ￿mplIance wtih constf(utional and statutory requirements including independent examination, strategic management. trustees meetings and reimbursed expenses. 1.6 Tangible fixed assets Tangible fixed assets are inits'ally measured at cost and subseouenuy measured at cost or valLJation, net of depreciation and any impairment losses. Individual fixed assets costing £200 or more are capitalised. Depreaation is recognised so as to wrile off the cost or valualion of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fitting5 Furniture and equipment Computers Straight line 25 to 50 years Straight line 10 to 20 years No depreciation Straight line 4 years The gain or loss arising on the disposal of an asset is deterrnined as the drfFeren￿ between the sale proceeds and the carrying value of the asset, arHJ is recognised in the statement of financjal actmties. No depre¢i81ion is ¢h8rged on general furnrture and equipment 85 replacements of those rtems are treated as revenue expenditure and written off in the year they are irujrred. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction Pri￿ exduding transaction costs, and are subsequently measured at fair value at each rew)rbng date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 15-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.8 Impairmont of fixed assets Al each reporting end date, the charity reviews the carying amounts of its tangible assets lo determine whether there is any indication that those assets have SLrffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimaled in order to detemiine the extent of the impairment loss Irf any). 1.9 Stocks Stocks are ststed at the lower of Cost and estimated selling pri￿ less Costs to Complete and sell. Cost comprises direct materials and, Whe￿ applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their presenl location and condition. Ilems held for distribution at no or nominal consideration are measured the lower of repla￿ment cost and cosl. Net realisable value is the estimated selling pri￿ less all estimaled ujsts of completion and costs to be incurred in marketing, selling and dislribution. 1.10 Cash and cash oqulval•nts Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of Ihree months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Flnan¢lal Instruments The charity has elected to apply the provisions of Section 11 'Basic Finanual Instnjments, and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its financial instnJments. Financial instruments are recognised in the chariWs balan￿ sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilibes are offset. wth the net amounts presented in the financial slaterllenls, when there is a legally enforceable right to set off the rec(KJnised amounts and there is an intention to setue on a nel basis or lo realise the asset and settle the liabilty simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including Iransactron costs and are subsequently carried at arriorti5ed cost using the effective interest method unless the arrangement constitlrtes 8 financing transaction, where the transaction is measured al the present value of the future re￿ip1S discounted al a market rale of interest. Financial assets Classified 85 receiv8ble wthin one year are not amorb"5ed. Basic financial liabilities Basic financi81 liabilities. in¢lu¢Jing creditors and bank 108ns are initially recognised al transaction price unless the arrangement constrtutes a financing Iran5adion. where the debt instrument is measured al the present value of the future payrnen15 discounted al a market rate of intere51. Financial liabilities ¢lassified as payable within one year are not amortised. Debt instruments are subsequenlly carried at amortised cost. using the effective interest rale 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 da￿lfied as ¢urtent liabilities if payment is due within one year or less. If not, they a￿ presented as non-¢urrent liabilities. Trade ¢reditors are re¢ognised initially at transaction price and subsequenuy Measu￿ al amorbsed cost using the effective interest method. 16-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) Derecognition of financial liabilities Financial liabilities are derecognised when the charity's conlractual obligations expire or are discharged or cancelled. 1.12 Employee bgnefits The cost of any unused holiday entiuement is recognised ir) the period ir) which the employee's ServI￿S are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contn"bution retirement benefit ￿herneS are tharged as an expense as they fall due. 1.14 Fund structure General funds are unrestricted income funds which are available for use at the discretion of Trustees in furtherance of the general objectives of the charity which have not been designated for other purposes. Critical accounting estimates and judgements In the application of the ¢harity's accounting policies. the trustees are required to make judgements, estimates and assumptions aboul the carrying amounl of assels and liabilities Ihat are not readily apparent from other sources. The estimates and associated assumptions are based on historicAI experien￿ and other factors that are considered to be relevant. Actual results may differ from these ests'males. The estimates and undedying 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 affecls only that period, or in the peri{￿1 of the revision and fvture periods where the revision affects both current and future periods. 17-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitsbl¢ actl¥ltl¢s Fèes from rèsidents 2023 Fees from rèsidènts 2022 Accommodation and welfare Outsourced ServI￿S for residents 432,246 18,611 432,525 21,785 450,857 454,310 Other trading activities Unr¢$trl¢ted Unre$trl¢ted funds funds 2023 2022 Sales of goods and seNices to resi¢Jents 4,963 7,161 Investments Unrestricted Unrestricted funds funds 2023 2022 Income from listed investments Interest receivable 1,047 265 707 1.312 713 Raising funds Total Unrestricted funds 2023 2022 Fundraisin and ublici Other fundraising costs 588 588 19-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitsbl¢ actl¥ltl¢s 2023 2022 Staff costs Provisions Outsourced ServI￿S for residents Rent. water and rates Heat and light Insurance Property repairs and maintenance Telephone Equipment repairs and renewals Hire of equipment Gardening, laundry and cleaning Adverbsing Bank charges Residents weKare and sundry Printing, postage and slalionery Legal and professional fees 338,863 28,491 15,806 10,355 26,931 5,073 23,855 1.626 307,454 29,191 19,565 9,899 25,760 4,538 21,990 1.609 11 22,434 4,313 7,422 3.664 568 1,916 662 1,582 37,368 2,31 S 5,706 2,370 614 3,694 432 1,589 493,561 474,094 Share of governan￿ (x)sts {see note 9) 3,961 3,600 497,522 477,694 Analysis by fund Unreslri¢ted funds Reslricted funds 497.035 487 476.871 823 497.522 477.694 -20-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support ￿$ts Support Governance 2023 2022 Audit fees A¢¢ountan¢y Companies House filing fee 790 3.158 13 790 3,158 13 720 2,867 3,961 3,961 3,600 Analysed beiween Charitsble activities 3,961 3,961 3.600 10 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 11 Employees The average monthly number of omployees during the year was: 2023 Number 2022 Number 20 20 Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 308,324 16.643 12,074 278,602 15,186 12,889 338.863 307,454 Wages and salaries indudes £1,82212022= £777) in respect of staff training and DBS checks. There were no employees whose annual remuneration was MO￿ than £60,000. 21

(W OJ o rx) o ro t 17) ¢5> 0 0 0rn¢5) 000

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Net galnsl{loss¢$} On inv¢$tments Unrestricted Unrestricted funds funds 2023 2022 Revaluation of investments Gainlllossl on sale of investments {4.561) 12,1771 4,194 {4,561) 2,017 14 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to r(s charitable objects. 15 Tanglble fixed assets FrÈÈhold land Fithres and FumiturÈ and and buildings fittings e4uipmÈnt ComputÈrs Total Cost At 1 April 2022 605,916 4,974 195,695 1,620 808,205 Al 31 March 2023 605.916 4.974 195,695 1,620 808.205 Depreciation and impairment At 1 April 2022 Depreciation charged in the year 338.761 13.939 156,501 4.956 1,458 496,720 18,959 At 31 March 2023 352.700 161,457 1,522 515,679 Carrying amount At 31 March 2023 253.216 4.974 34,238 98 292,526 Al 31 March 2022 267.155 4.974 39,194 162 311.485 16 Fixed asset investments -23-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Fixed asset investments (Continued) Listad invastmènts Cost or valuation At 1 April 2022 Valuation changes 56,218 14,5611 At 31 Mar¢h 2023 51,657 Carrying amount Al 31 Mar¢h 2023 51.657 Al 31 March 2022 56,218 Listed invtrslments in(Juded above.. 2023 2022 Listed invtrslments carrying amount 51,657 56.218 Fixed asset investments ￿valUed The listed investment as included at the market value per the valuatson report from Investec Wealth and Investment Ltd at the balan￿ sheel date. 17 Stocks 2023 2022 Raw materials and consumables 1.600 1,600 18 Debtors 2023 2022 Amounts falling dua within one year: Trade debtors Prepayments and accrued income 1,930 4,089 4,152 4,443 6,019 8.595 -24-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19 Loans and overdrafts 2023 2022 Bank loans 38.051 47,640 Payable within one year Payable after one year 9.832 28,219 9,589 38,051 The loan relates to a Govemment backed 'BOUn￿ Back. loan which has a total repayment period of 6 years, with no capital or interest repayments falling due in the first year. Interesl is charged on the loan at 2.5°/.. 20 Credltors: amounts falllng due wlthln one year 2023 2022 Notes Bank loans other tsxation and sLKial security Trade creditors Accruals and deferred income 19 9.832 12 18,712 3,768 9,589 12 21.312 5,869 32,324 36.782 21 Creditors: amounts falling due after more than one year 2023 2022 Notes Bank loans 19 28,219 38,051 -25-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Endowment fvnds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowrnenl funds can be used in accordan￿ bwth the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. Movement in funds Resourc05 Balance at expended 31 March 2023 Balanu at 1 April 2021 Resovrces Balance at expended 1 April 2022 Pemianent endowments Propety 289.385 {14.2381 275,147 113,9391 261,208 289,385 {14,2381 275,147 113.9391 261.208 The permanent endowment fund represents the original property and land purchased with donations lo the charity Minehead. Walchel and Williton Homes for ages persons and the subsequent additions and improvements lo that property. This remains the property of Minehead. Walchel and Willilon Homes for Aged Persons 8nd is included in these accounts urKlerthe Uniting Direction ¢Jated 22 January 2007. 23 Restricted funds The income funds of the charity indude restricted fijnds comprising the following unexpended balances.. Movement in funds Movement in funds Balance at 1 April 2021 Incoming Balance at expended 1 April 2022 Incorning resources Resource5 Balance at Exppnded 31 MarGh 2023 Residents funds 2.653 10.626 (8231 12,456 3,308 14871 15,277 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 againsl the fund in question. The 'Residents funds. fund is mainlained for the purpose of holding funds donated specifically for funding activities for the residents at Broadlands. -26-

oi Ln o (rj r) (0￿￿ P) ID ff) Ln * a) cry (omoo) ry￿(0 ¢JD Ln ￿ (y r) (ry (0￿0￿) p) c

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 25 Op¢rating lease commitments At the reporting end date the charity had outstanding commitmenls for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2023 2022 Within one year Betr￿een two and five years In over five years 2,323 9.097 2,236 8,755 2,006 11,420 12,997 26 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation 65.892 62,871 27 Cash generated from operations 2023 2022 Deficit for the year 161,1611 121,8381 Adjustments for.. Investment income recognised in stalemenl of finanual acbvities Gain on disposal of investments Fair value gains and losse5 on investments Depreaation and impaimient of tangible fixed assets 11,3121 17131 14,1941 2.177 19,318 4,561 18,958 Movements in working capital- Decreasellincreasel in debtors IDecreaseYincrease in creditors 2,576 14,7001 11,4441 10,997 Cash (absorbed byygenerated from operations 141,0781 4,303 -28-

BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 28 Analysis of ¢hange$ in net fvnds At 1 April 2022 Cash flowsAt 31 March 2023 Cash al b8nk and in h8nd 126,420 149,3551 77,065 Loans falling due wthin one year Loans falling due after more than one year 19,589} 138,051} 12431 9,832 19,8321 128,2191 78,780 139,7661 39,014 -29-