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 2025 Lentells Chartered Certified Accountants
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Rice (Chair) I S J Dobbin R Bevers J Rowden (Vice Chairl (Appointed 20 April 2024) Secretary J Ackroyd Charity number (England and Wales) 1106837 Company number 05273395 Reglstered offlce 12 Ponsford Road Minehead Somerset United Kingdom TA24 5DQ Independent examlner 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 Branch 19 The Parade Minehead Somerset TA24 SLU Solicitors Messrs Risdon Hosegood 18 Fore Slreet Williton Taunlon Somerset TA4 4QD Investment advisors Rathbones Group PIC 30 Gresham Street London EC2V 7QN
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS CONTENTS Page Trustees report Independent examiner's report Statement of financial activities Summary income and expenditure account 10 Balance sheel Statement of cash flows 13 Notes to the financial statements 14-26
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wilh the accounting policies sel out in note 1 to the financial statements and comply with the charity's Memorandum and ArtIGles the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their 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, Walchet and Williton area... and although now the language has changed, 'lo 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 forAged 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, tille 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, Watchel 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 Vl of Ihe Charities Act 1993 (Part 8 of Ihe Charities Acl 2011) and these accounts incorporate Ihe financial aclivities, liabilities and funds of both Broadlands Homes Limited and Minehead, Watch8t and Williton Homes for Aged Persons. The objectives of the charilable trust Minehead, Watchet and Williton Homes for Aged Persons, being provision of a home or homes for aged persons wilhin the Minehead, Watchet and Wllliton area, fall wilhin the objectives of Broadlands Homes Limited as delailed below.
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objectives and activities 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 lo 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 slaff and residenls at regular meelings 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 charlty does not use soclal investment or provlde grants. All the trustees are volunteers. Publlc Beneflt The long eslablished legal principle is, Ihat to enjoy charitable slatus Broadlands must exisl for a purpose which is beneficial to the community and it achieves this by advancing health and assisting the agedldisabled. The trustees have paid due regard to guidance issued by the Charily Commission of England and Wales in deciding what activit18S the charity should und8rtake and comply with th8 requirem8nts of section 4 of the Charities Act 2011. Achlevements and performance The Trustees have adopted a policy to continue with th8 improv8m8nt of facilities in resid8nls' accommodation by replacing baths with showers ensuite to all rooms. Regular resident and staff meelings were held during the year to provide information and receiv8 comm8nls. Residenls were able to express their views and see their suggestions acted upon. Suggestions from slaff 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 communily. 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 lo the portfolio of investments managed by Inveslec, the trustees have selected a balanced investment objective with moderate risk, the investments have shown a 0.40/0 increase over the 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 2025 Financial review Total income for the year was £714,591 compared with £650,516 in the previous year and total expenditure was £723,876 compared with £606,449 in the previous year. Realised and unrealised gains on investments assets in the year were £233 compared to £2,743 in the previous year, with an unrealised loss on investment assets in the year of £nil compared to £nil in 2024. Overall net loss for the year was £9,052 including a net loss of £6,176 relating to unrestricted funds with net income of £10,000 relating to restricted funds and net expenditure of £12,876 relating to permanent endowment funds, Principal funding sources and expenses Broadlands, main source of income is from renl 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 receive locally) also food provision and repairs and renewals on a building over 100 years old as well as general operating expenses. A Government backed '8ounce Back, loan of £50,000 was introduced in December 2020 to assist the charity's cash flow as it was identified that there would b8 a shortfall from March 2021. Repayments have continu8d, leaving a balance of £18,139 at the year end. Reserves pollcy It is the policy of Ihe charily Ihat unreslricted funds which have nol been designaled for a specific use should be maintained at a18vel equivalent to at18ast two months gross 8xpenditure. The trust88s consid8rs that r8S8rves at this level will ensure that, in the event unexpected revenue requirements, they will be able to continue the charity's current activilies while consideration is given to ways in which addilional funds may be raised. This level of reserves has been maintained throughout the year. Net current assets at the year end amounted to £101,567 and there are investments held, which could be sold if needed, with a market value of £54,633 at 31 March 2025. The amount of reseNes held at the end of the year is considered lo be consislent with the level of reserves identified by the trustees as appropriate given their plans for the fulurè activities of Ihe charity. Significant events during the year Due to the after effects of Covid we have had to adapt our approach lo day-to-day procedures, admissions and staffing to ensure the continued safety of our clients, visitors and staff. With the ease of Government guidelines, visitation to supported living setting had changed, allowing more family and friends into the Home, however, the dedication of all staff remained exemplary, maintaining high levels of IPA and Ihe implementation of relevant PPE. Occupancy rates are budgeted for at 88 %. Within the community, older people are now encouraged to slay 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 al Broadlands. Advertising and promotion at community events are ongoing, although Ihis has been difficull due to the current culture following Ihe pandemic. Broadlands rents are very competitive and will increase each year in line with costs. The local mental heallh services regularly want to place clients with mental issues in Broadlands but the manager interviews all potential 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 2025 Investment policy and objectives The trustees, investment policy 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 Rathbones. Principal risks and uncertainties The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure lo the major risks. The Iruslees 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 moniloring in this conneclion. The Iruslees are salisfied Ihat there ar8 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. Plans for future periods Alms and key objectlves 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 conslant review to ensure the long term future of Broadlands. The charity aims to fill th8 unoccupied rooms and then look to enhance the Broadlands experience with the decor and maintenance. L. O'Grady and J. Ackroyd will focus their efforts on advertising and widening the social media plafform for Broadlands. Furthermore, they will endeavor to secure Broadlands, place in the current market following the sectors ongoing changes, thus aiding to boost occupancy. The main driv8 moving forward will be lo ensure the local area is aware of whal Broadlands has to offer and in Ihe safe manner in which il works lo promote independence, dignity and diversity. Structure, governan¢e and management The charity is a company limited by guarantee govemed by ils 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 financial stalemenls were: A Rice {Chairl I S J Dobbin P J Conrad R Bevers V Wilson J Rowden (VI Chair) (Resigned 17 November 2024) (Resigned 19 June 20241 (Appointed 20 April 2024)
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recruitment and appointment of trustees New trustee appointments are propos8d 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 five and the maximum number eleven. Under certain circumstances a member, who is not a trustee, may also propose a person for appointment as a trustee. Every three years the trustees retire by rolation at each annual general meeting along with any trustees appointed since thé previous annual general meeting. Reliring trustees may then be re-élected by the meeting. Qualifying third party indemnity provisions 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. 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. Organlsational structure The manager, L O'Grady, is responsible for the day-to-day running of the home, assisted by the administrator, J Ackroyd. L O'Grady, J Ackroyd and a trustee member will discuss, either in person or via telephone, any issues arising. Any other business or concerns will be addressed at the allocated board meeting bi-monthly. 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 wilh urgent issues. Bolh live locally. Trustees are asked lo make two visils each year to Broadlands, as well as Board meetings, to spend lime with residents and staff and to complete a questionnaire on their visit. This means one of the trustees will be visiting the home each month. With the previous years being unusual due to the global pandemic, visits have nol been regular, however there is encouragement for this is increase again. Bi monthly meetings of the trustees are held with the Senior Management Team to review the financial report and discuss room occupancy, building and equipment maintenance, slaff and resid8nc8 issues. The Chair and Vice of the Board meet with the management team monthly to review the above issues. Induction and training of trustees Following appoinlmenl all tnjstees are referred to the information available on the Charity Commission website page https'.Ilwww.gov.uklgovernmentlpublicationslthe-essential-trustee-what-you-need-lo-know-cc3 in order to appraise them of their duties and responsibililies 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 Charity's key management personnel 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.
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees report was approved by the Board of Trustees. .&gM&l.w.2V107125 @ 09..10 A Rice {Chairl Trustee Date..
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 statements of Broadlands Homes Limited (the charity) for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity {and also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llb} of the Charities Act 2011. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of Ihe 2011 Acl. I confirm that l am qualified to undertake the examination because l am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm thal no matters have come to my attention in conneclion with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. th8 financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I 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. D A Thatcher FCCA Ash House Cook Way Bindon Road Taunton Somerset TA2 68J Date.. Countersigned on 30107125 @ 17..56
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestricted funds 2025 Restricted Endowment funds funds 2025 2025 Total Total 2025 2024 Notes Income from: Donations and legacies Charitable aGtivities Other trading activities Investments 2,052 693,007 7,016 2,516 10,000 12,052 693,007 7,016 2,516 2,089 640,036 6,549 1,842 Total Income 704,591 10,000 714,591 650,516 Expenditure on: Charitable activities Other expenditure 706,091 4,909 706,091 17,785 587,688 18,761 11 12,876 Total expendlture 711,000 12,876 723,876 606,449 Net gainslllossesl on investments 12 233 233 2,743 Net incom8118xpenditurel and movement in funds 16,176) 10,000 112,8761 19,052) 46,810 Reconciliation of funds: Fund balances at 1 April 2024 151,069 16,116 247,949 415,134 368,324 Fund balances at 31 March 2025 144,893 26,116 235,073 406,082 415,134 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestricted funds 2024 Restricted Endowment funds funds 2024 2024 Total 2024 Notes Income from: Donations and legacies Charitable aGtivities Other trading activities Investments 2,089 2,089 640,036 6,549 1,842 640,036 6,549 1,842 Total Income 648,427 2,089 650,516 Expenditure on: Charitable activities Other expenditure 586,438 5,502 1,250 587,688 18,761 11 13,259 Total expendlture 591,940 1,250 13,259 606,449 Net gainslllossesl on investments 12 2,743 2,743 Net In¢omel(expendlture) and movement In funds 59,230 839 113,259) 46,810 Reconclliation of funds: Fund balances at 1 April 2023 91,839 15,277 261,208 368,324 Fund balances at 31 March 2024 151,069 16,116 247,949 415,134
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 All income funds 2025 2024 Gross income Gains on investments 714,591 233 650,516 2,743 Total income in the reporting period 714,824 653,259 Total 8xpenditur8 from income funds 711,000 593,190 Net Income for the year 3,824 60,069 10-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS BALANCE SHEET ASAT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investments 14 15 257,365 54,633 274,582 54,400 311,998 328,982 Current assets Stocks Debtors Cash at bank and in hand 16 17 1,920 6,324 135,148 1,600 7,821 138,808 143,392 148,229 Credilors: amounts falling due within one year 19 141,504) 143,938) Net current assets 101,888 104,291 Total assets less current Ilabllltles 413,886 433,273 Credltors: amounts falllng due after more than one year 20 17,8041 118,1391 Net assets 406,082 415,134 The funds of the charity Endowment funds Restricled income funds Unrestricted funds 22 23 24 235,073 26,116 144,893 247,949 16,116 151,069 406,082 415,134 11
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS BALANCE SHEET (CONTINUED) ASAT 31 MARCH 2025 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 stat8ments have b88n pr8par8d in accordance with th8 provisions applicable lo compani8s subject to the small companies regime. The financial statements were approved by the trustees on .S*nodoR.28K17125 @ 09.'10 A Rice {Chairl Trustee Company registration number 05273395 {England and Wales) 12-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 28 3,904 69,733 Investing activities Investment income received 2,516 1,842 Net cash generated from investing activiti8S 2,516 1,842 Flnanclng actlvities R8paym8nt of bank loans 110,080) 19,832) Net cash used In flnanclng actlvities (10,0801 19,8321 Net (de¢rease)lincrease in cash and cash equivalents (3,660) 61,743 Cash and cash equivalents at beginning of year 138,808 77,065 Cash and cash equlvalents at end of year 135,148 138,808 13-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information Broadlands Homes Limited 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. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounling and Reporting by Charities.. Slatement of ReGommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional 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, Imodified to include the revaluation of freehold properties and to include inveslmeni properties and certain financial inslruments al fair valuel. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has ad8quat8 resources to continue in operational 8XlSt8nce for th8 for8seeabl8 future. Thus th8 trust88S continue to adopt the going concern basis of accounting in preparing th8 financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Iruslees in furtherance of their charilable objectives. Restricted funds ar8 subj8cI to specific conditions by donors or grantors as to how they may b8 us8d. Th8 purposes and uses of the restricted funds are sel 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 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 donalions received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 14-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure All expendilure is recognised once there is a legal or constructive obligation to that expenditure, it is probable thal settlement is required and the amount can be measured reliably. All costs are allocaled 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 Gharges alloGated on the proportion of the asset's use. Other supports costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Charltable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocaled directly to such activities and those costs of an Indlrect nature necessary to support them. Support costs Supports costs include central functions and have been allocated to activity cost categories on a basis consistenl with the use of resources, for example, allocaling property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements including independent examination, strategic management, Iruslees meetings and reimbursed expenses. 1.6 Tanglble flxed assets Tangible fixed assets are inilially 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 assels less Iheir residual values over their useful lives on the following bases- Freehold land and buildings Fixtures and fittings 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 determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the stalemenl of financial activities. 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. 1.7 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) 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 2025 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 delermine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion 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 malerials and, where applicable, direct labour costs and those overheads thal 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 realisable value is the estimaled selling price less all estimated costs of completion and costs to be incurr8d in marketing, selling and distribution. 1.10 Cash and cash equlvalents 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 liabilities. 1.11 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils 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, wilh the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc flnanclal 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 receipls discounted at a market rate of inleresl. Financial assets classified as CeIVable within one year are not amortised. Basic financial liabilities Basic financial liabililies, including creditors and bank loans are initially recognised at transaction price unless the arrangèment constitutes a financing transaction, where thè debt instrument is mèasured at the present value of the future payments discounted at a market rate of interest. Financial liabilities 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 seNices that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are classified as current liabilities 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. 16-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) DecognItion of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immedialely as an expense when Ihe charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged 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 Ihe general objectives of Ihe charily which have not been designated for other purposes. 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 associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling estimates are recognised in the period in which the estimate is revised where the revision affects only Ihat period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacles Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts 2,052 10,000 12,052 2,089 2,089 Income from other trading activities Unrestricted Unrestri¢ted funds funds 2025 2024 Non-charitable trading activities 7,016 6,549 17-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charitable activities Unrestricted funds 2025 Unrestricted funds 2024 Accommodation and welfare Outsourced seNices for residents 670,677 22,330 614,009 26,027 693,007 640,036 Income from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Income from listed investments Interest receivable 1,584 932 1,093 749 2,516 1,842 18-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities 2025 2024 Direct costs Staff costs Provisions Outsourced seNices 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 Advertising Bank charges Residents welfare and sundry Printing, postage and stationery Legal and professional fees 445,958 44,002 17,221 12,992 53,659 3,776 23,289 2,644 73,311 6,099 10,121 2,181 655 3,296 571 2,011 386,689 40,169 15,331 11,446 41,202 4,476 16,561 1,654 44,060 4,486 9,069 974 602 4,567 541 1,768 701,786 583,595 Share of 8UPPOrt and governance costs {see not8 8) Governance 4,305 4,093 706,091 587,688 Analysis by fund Unrestricted funds Restricted funds 706,091 586,438 1,250 706,091 587,688 Support costs allocated to activities 2025 2024 Governance costs 4,305 4,093 Analysed belween.. Charitable activities 4,305 4,093 19-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities (Continued) 2025 2024 Governan¢e costs comprlse: Audit fees Accountancy Companies House filing fee 839 3,453 816 3,264 13 4,305 4,093 Trustees None of the trustees (or any persons connected wilh Iheml received any remuneration or benefits from the charily during the year. 10 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number 24 22 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 401,670 24,204 18,152 353,898 18,405 13,631 445,958 386,689 Wages and salaries includes £1,932 (2024.. £755) in respect of staff training and DBS checks. There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key managemeni personnel was as follows.. 2025 2024 Aggregate compensation 48,472 69,502 -20-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Other expenditure Unrestricted Endowment funds funds 2025 2025 Total Unrestricted Endowment funds funds 2024 2024 Total 2025 2024 Depreciation of tangible fixed assets Financing costs 4,341 568 12,876 17,217 568 4,685 817 13,259 17,944 817 4,909 12,876 17,785 5,502 13,259 18,761 12 Gains and losses on investments Unrestricted Unrestricted funds funds 2025 2024 Gainsl(lossesl arising on., Revaluation of investments 233 2,743 13 Taxatlon The chariiy is exempt from taxation on its activities because all its income is applied for charilable purposes. 14 Tangible fixed assets Freehold land Flxturas and Furnlture and nd bulldlngs flttlngs equlpm&nt Computgrs Total Cost At 1 April 2024 605,916 4,974 195,695 1,620 808,205 At 31 March 2025 605,916 4,974 195,695 1,620 808,205 Depreciation and impairment At 1 April 2024 Depreciation charged in the year 365,959 12,876 166,078 4,307 1,586 34 533,623 17,217 At 31 March 2025 378,835 170,385 1,620 550,840 Carrying amount At 31 March 2025 227,081 4,974 25,310 257,365 At 31 March 2024 239,957 4,974 29,617 34 274,582 21
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Fixed asset investments Listed investments Cost or valuatlon At 1 April 2024 Valuation changes 54,400 233 At 31 March 2025 54,633 Carrylng amount At 31 March 2025 54,633 At 31 March 2024 54,400 2025 2024 Listed inveslmenls carrying amount 54,633 54,400 Flxed asset Investments revalued The listed investment as included at the market valu8 P8r th8 valuation report from Inv8Stec W8alth and Investment Ltd at the balance sheet date. 16 Stocks 2025 2024 Raw malerials and consumables 1,920 1,600 17 Debtors 2025 2024 Amounts falling due within one year: Trade deblors Prepayments and accrued income 3,693 2,631 5,457 2,364 6,324 7,821 -22-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Loans and overdrafts 2025 2024 Bank loans 18,139 28,219 Payable within one year Payable after one year 10,335 7,804 10,080 18,139 The loan relates to a Government backed 'Bounce Back, loan which has a total repayment period of 6 years, with no capital or interest repayments falling due in the first year. Interest is charged on the loan at 2.5 % . 19 Creditors: amounts falling due within one year 2025 2024 Notes Bank loans Other taxation and social s8curity Trade creditors Accruals and deferred income 18 10,335 12 26,946 4,211 10,080 12 29,842 4,004 41,504 43,938 20 Creditors: amounts falling due after more than one year 2025 2024 Notes Bank loans 18 7,804 18,139 21 Retirement benefit schemes 2025 2024 Defined contribution schem8s Charge to profit or loss in respect of defined contribution schemes 18,152 13,631 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -23-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Endowment funds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the Gharity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At 1 Aprll 2024 Resources At 31 March expended 2025 Permanent endowments Property 247,949 112,876) 235,073 Prevlous year: At 1 Aprll 2023 Resources At 31 March expanded 2024 Permanent endowments Property 261,208 113,259) 247,949 The permanenl endowment fund represents the original propety and land purchased with donations to the charity Minehead, Watchet and Williton Homes for ages persons and th8 subsequent additions and improvements to that property. This remains the property of Minehead, Walchet and Williton Homes for Aged Persons and is included in these accounts under the Uniling Direction dated 22 January 2007. 23 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balances.. At 1 Aprll 2024 Incomlng resources Resources At 31 March expended 2025 Residents funds 16,116 10,000 26,116 Previous year: At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Residents funds 15,277 2,089 11,250) 16,116 Restricted funds are funds that are to be used in accordanGe 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 specifically for funding activities for the residents at Broadlands. -24-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific Conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incomlng resources Resources expended Galns and At 31 March losses 2025 General funds 151,069 704,591 1711,0001 233 144,893 Prevlous year: At 1 Aprll 2023 Incomlng resources Resources expended Galns and At 31 March losses 2024 General funds 91,839 648,427 (591,940) 2,743 151,069 25 Analysls of net assets between funds Unrestricted funds 2025 Restricted Endowment funds funds 2025 2025 Total 2025 At 31 March 2025: Tangible assets Inveslments Current asselsl{liabilities) Long term liabilities 22,292 27,266 101,888 17,804> 235,073 257,365 54,633 101,888 (7,804) 27,367 143,642 27,367 235,073 406,082 Per balance sheet Balance to allocate 144,893 1,251 26,116 (1,251) 235,073 406,082 Unrestricted funds 2024 Restricted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl{liabilities) Long term liabilities 26,633 38,284 104,291 118,139) 247,949 274,582 54,400 104,291 (18,139) 16,116 151,069 16,116 247,949 415,134 -25-
BROADLANDS HOMES LIMITED INCLUDING MINEHEAD, WATCHET & WILLITON HOMES FORAGED PERSONS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 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.. 2025 2024 Within one year Belmeen two and five years 2,369 4,541 2,369 6,910 6,910 9,279 27 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 28 Cash generated from operations 2025 2024 (Deficitllsurplus for the year 19,052) 46,810 Adjustments for: Investment income recognised in statement of financial activities Fair value gains and losses on investments Depreciation and impairment of tangible fixed ass8ts 12,516) (233) 17,217 11,8421 12,7431 17,944 Movements In worklng capltal: Ilncreasel in stocks Decreasellincreasel in deblors IDecrease)lincrease in creditors (320) 1,497 12,689) (1,802) 11,366 Cash generated from operations 3,904 69,733 29 Analysis of changes in net funds At 1 Aprll 2024 Cash flowsAt 31 March 2025 Cash at bank and in hand 138,808 13,660) 135,148 Loans falling due within one year Loans falling due after more than one year (10,080) (18,139) (255) 10,335 (10,335) (7,804) 110,589 6,420 117,009 -26-