Charily Reglstratlon No. 1192048
THE SHANDFORD TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL
STATEMENTS FOR THE YEAR ENDED
31 DECEMBER 2024

The Shandford Trust
Re8lStered Charity No: 1192048
Legal and Admlnistrative Information
For the Year Ended 31 December 2024
Trustees
Paul Andrew Boult (resigned August 20241
Jacqueline Maria Collins (resigned October
20241
Christopher Hayward Davis (Chairmanl
Louise Marie Jacques
Marcjobson
Penelope Frances Leather
Rlchard Mejiner
Joanne Elizabeth Van5tone (Treasurer)
Charlty number
1192048
Printipal address
c/0 Seachange
East Budleigh Road
Budleigh Salterton
Devon
EX9 6HF
Independent examiner
Mr G s fibbltts
11 East Budleigh Road
Budleigh Salterton
Devon
EX9 6HH
Bankers
CAF Bank
25 Kings Hill Avenue
Klngs Hill
West Malllng
Kent
ME19 4TA
Solicitors
Tozers 50licitors LLP
Broadwalk House
Southemhay West
Exeter
Devon
EXI IUA

The Shandford Trust
Registered Charity No: 1192048
Contents
For the Year Ended 31 December 2024
Trustees Report
Statement of Trustees, Responsibilities
Independent Examiner's Report
Income & Expenditure Account
Balance Sheet
statement of Cash Flows
Notes to the Financial Ststements
10-12

The Shandford Trust
Reglstered Charlty No: 1192048
Trustees Report
For the Year Ended 31 December 2024
The Trustees present their annual report and tinanclal statements for the year ended 31 December 2024,
The linancial statements have been prepared in accordance wwth the accounting policies set out in note I to
the financial statements and comply with the CIO'S governing document, the Charities Act 2011 and
"Accounting and Reportbng by Charlties: Statement of Recommended Practlce appllcable to charlties
prepaYin8 their accounts in accordance with the Financial Reporhng Standard applicable in the UK and
Republic of Ireland IFRS 1021" leffective l January 20191.
Objects and Activities
Under a legal agreement dated 13 December 2021 The Abbeyfield Society la charitable company limited by
guarantee, company number 574816 and charity number 2007191 transferred a cash asset to The Shandford
Trust amounting to £729,000.
The CIO'S objects are to provide financial assistance towards the cost of care and home Se￿Ice5, facilities and
associated amenities and to fund the provlsion of residential care to support older person5 of limited means
in Budleigh Salterton, East Budleigh, Otterton, Colaton Raleigh and Bicton.
There are no restricted funds or endowment funds.
The policies adopted in furtherance of these objects are to provide grant funding to older people for thelr
accommodation or care, particularly those in financial need, those who are frail or with disabilities, who live
in Budleigh Salterton, East Budleigh, Otterton, Colaton Raleigh or Bicton. It is indiscriminate as to age,
disability, gender reassignment, marriage and civil partnership, race, religion or belief, sex or sexual
orientation and there ha5 been no change in these durfn8 the year.
The CIO commenced its aclivitie5 during 2023.
The Trustees have paid dtse regard to guidance issued by the CIO Commlsslon In decidlng what activities the
CIO should undertake.
Achlevements and Performance
The New CIO
The CIO was reglstered on 28 October 2020.
Methodologyfor applyingfvnds in t7ccordance with the Objects
When registering the new CIO, a grant5 policy was also submitted to the CIO Commission. No dlsbursements
for this purpose have yet been made.

The Shandford Trust
Registered Charity No: 1192048
Trustees Report
For the Year Ended 31 December 2024
plunsfor Future Perlods
A suitable property, adjacent to the old communlty hospital in Budleigh Salterton, now a charity In it5 own
right Iseachange Devon # 11963791, was purchased by the CIO in January 2024. Subject to planning
permission and available funds for conversion and renovation, this will provide affordable accommodation
for3 or4 units.
Rent in the form of a weekly maintenance charge IWMCI will be used chiefly for maintenance purposes, but
also to provide reserves for other funding activities. The Trustees recognise the need of iniSividuals in the
Community who would benefit from such extra ￿SOUrce to help them in their Dwn homes, for example with
minor improvements or refurbishment, or in the provision of care. It is the intention of the CIO to use surplus
funds from the development ofthe propertyand any reseNes from the WMC foremergency mea5ure5 of
this type.
Financial Review
The brought forward balance of funds available as at 31 December 2023 was £719,424.
Changes during the year
Interest and Legacies received during the year totalled £125,401 which includes Gift Aid Recoverable from
HMRC totalling £10,081. Expenses were £34,878, predominantly in connection with the purchase of the
property. The balance at the year-end was £809,947.
There are no restricted funds.
There are no commitments on the funds held.
Going Concern
No material Un￿rtain￿e$ related to events or conditions that may cast doubt about the ability of the CIO to
continue as a going concern have been identified by the Trustees.
Reserves
The CIO considers the amount of funds held to be sufficient for the achievement of its Objects. Once an
Initial investment into the project has been made, it is the intention to hold any surplus funds as reserve5 ft)r
emergency grants to qualifying person5 in the community.

The Shandford Trust
Registered Charity No: 1192048
Trustees Report
For the Year Ended 31 December 2024
StNcture, governance and management
The CIO is a Charitable incorporated organisation registered wlth the CIO commlssion. It was fomied with a
model Charity Commission Constitution of a Charitsble Incorporated Organisation, whose only voting
members are its Trustees, dated 24 October 2020.
The Trustees who served durlng the year and up to the date of slgnature of the financlal statements we￿.
Paul Andrew Boult (resigned August 20241
Jacqueline Maria Collins (resigned October 20241
Christopher Hayward Davis Ichairmanl
Louise Marle Jacques
Marcjobson
Penelope Frances Leather
Richard Mejzner
Joanne Elizabeth Vanstone ITreasurerl
Trustee5 were recruited with a view to providing a cross section of skllls and experience relevant to the
Objects of the CIO,. they include a past senior bank executive and board member, a professor of medicine, a
medical practitioner, a lawyer, an HR executive, a heolth and wellbeing communlty hub manager, and a local
town clerk.
Future Trustees will be recruited wlth the same principle in mind.
Trustees are appointed variously for a period of 2 to 4 years and are eligible for re-elertion. It is not the
Intention that Trustees should serve more than 3 consecutive terms.
Trustees will be offered appropriate training where necessary. No training gaps have yet been identilied.
The minimum number of Trustees is 3 and the maximum is 12. Should the number fall below 3 therb the
remaining Trustees may act only to call a meeting of the CIO Trustees to appoint a new charity Trustee.
Governonce
The CIO acts in accordance with its governlng document, the Model Constitution referred to above.
Meetings of Trustees in 2024 were held quarterly.
All decisions are taken elther at a meeting or by resolution in writing. A simple majority of Trustees is
required.
All Minutes and Accounting record5 are held by two of the Chairman, Secretary and Treasurer as appropriate.

The Shandford Trust
Registered Charity No: 1192048
Trustees Report
For the Year Ended 31 December 2024
Management
The CIO consists of a Chairman and Treasurer, drawn from the Trustees. The Secretary is employed on a part
time basis.
There is a Grants Committee consisting of 4 Trustees, with one Trustee the Chair.
The Trustees, Report was approved by the Board of Trustees.
A Finance Investment and Property Committee wlll be formed in 2025126,. this Committee will a150 develop a
Reserves Policy.
The Trusteeg Report was approved by the Board of Trustees
Mf Christopher Davis
IChairm3n/Trusteel
19 loK/LC
Date..

The Shandford Trust
Registered Charity No: 1192048
Statement of Trustees, Responsibilities
For the Year Ended 31 December 2024
The Trustee5 are responslble for preparlng the Trustees, Report and the flnanclal statements In accordance
with appllcable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted
Accounting Practice}-
The law appllcable to charltles In England and Wales requires the Trustees to prepare financlal statements for
each financial year which eive a true and fair view of the stste of affairs of the charity and of the incoming
resources and application of resources of the charity for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistentlyi
observe the methods and principles in the Charities SORP-
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explalned in the financial 5tatements,' and
prepare the financlal statement5 on the going concern basis unless it is inapproprlate to presume
that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that dlsclose with reasonable accuracy
at any time the tinancial position of the charity and enable them to ensure that the financial statemerbts
comply with the Charities Act 2011, the charlty (Accounts and Reportsl Regulations 2008 and the provisions
of the trust deed. They are also resFK)nsible for safeguarding the assets of the charity and hence for taklng
reasonable steps for the prevention and detection of fraud and other irregularities

The Shandford Trust
Registered Charity No: 1192048
Independent Examiner's Report
For the Year Ended 31 December 2024
I report to the Trustees on my examlnation of the flnanclal statements of The Shandford Trust Ithe charrtyl
for the year ended 31 December 2024.
Responslbllities and basls of report
A5 the Trustees of the charitv vou are responsible for the preparation of the tinancial statements in
accordance wlth the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity'5 linancial Statements carried out under section 145 of
the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the
Charity CommSssion under section 14515llbl of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with
Aecounting and Reporting by Charities preparing thelr accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republlc of Ireland IFRS 102) in preference to the Accounting and
Reporting by Charities.. Statement of Recommended Practice issued on l April 2(K)S which is referred to In
the extant regulations but has now been withdrawn.
l understand that this has been done in order for financial statements to provide a true and fair vlew in
accordance with Generally A¢cepted Accoutbting Practice effective for reporting periods beginning on or after
l January 2015.
I have tompleted my examination. I confirm that no matters have come to my attention in connection with
the examination, and confirm that..
accounting record5 were kept in ￿SPect of the charity as requlred by section 130 of the 2011 Act,.
the financial statements do accord wtth those records:
the linancial statements do comply with the applicable requirements concerning the form and
content of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a true and fair vlew whlch is not a matter consldered as part of
an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn In thls report.
MrG STibbltts
Date:

The Shandford Trust
Registered Charity No: 1192048
Income & Expenditure Account
For the Year Ended 31 December 2024
Notes
2024
2023
Income
Investrnents
Legacies and Donations
Gift Aid recoverable from HMRC
24,176
91,144
10,081
21,372
2,000
Total Income
125,401
23,372
Ex
enditure
34,878
29,952
Net Income/(expendlturel for the year
90,523
(6,5801
Trust Funds as at l January
719,424
726,004
Trust Funds as at 31 December
809,947
719,424

The Shandford Trust
Registered Charity No.. 1192048
Balance Sheet
For the Year Ended 31 December 2024
Notes
2024
2023
Land and Buildlngs
275,000
Current Assets
Cash at bank and in hand
Cash held by Solicitor
Gift Aid Recoverable
524,866
444,424
275,000
10,081
Net Current A55ets
534,947
719,424
Total Assets
809,947
719,424
Re
resented b
Trust Funds
809,947
719,424
The financial statemen
s were approved bythe Trustees on
Mr Christopher Davls Ichalrmanl
Trustee

The Shandford Trust
Registered Charity No: 1192048
Statement of Cash Flows
For the Year Ended 31 December 2024
2024
2023
eratin
Activities
Legacies and Donations
Expenditure
91,144
134,8781
2,000
129,952)
Total from Operatlng Actlvitles
56,266
127,952)
Investin
activitie5
Interest
Land Purchase
Gift Aid Recoverable
24,176
(275,0001
10,081
21,372
Total from Investlng Activitles
(240,743)
21,372
Net Increase/(detrease) In cash
(184,477)
{6,580)
Cash at beglnnlng of year
719,424
726,004
Cash at end of year
534,947
719,424

The Shandford Trust
Registered Charity No: 1192048
Notes to the Financial Statements
For the Year Ended 31 December 2024
Accountlng Pollcles
Charlty InfOrma￿On
The Shandford Trust is a charitsble incorporated organisation which was registered with the Charity
Commission on 28 October 2020 (charity number 11920481. The prln¢ipal cor¢tact address is shown
on the legal and administrative information page of these financial statements.
Accounting Convention
The financial statements have been prepared in accordan￿ with the chafity's Igoverning documentl,
the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic
of Ireland" I'FRS 102,1 and the Charities SORP "Accounting and Reporting by charl￿e$.. Statement of
Recommended Practice appllcable to charities preparing their accounts in accordance with the
Financial Reporung Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective I
January 20191. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regtjlations 2CX)8
only to the extent required to provlde a true and fair view. This departure has involved following the
ststement of Recommended Practice for charities applying FRS 102 rather than the version of the
Statement of Recommended Practice which is referred to in the Regulations but which has since
been withdrawn.
The financial statements have been p￿pared under the historical cost corwention. The principal
accounting policies adopted are set out below.
Going concern
At the time of approvlng the financial statements, the Trustees have a reasonable expectation that
the charity has adequate resource5 to continue in operational exSstence for the foreseeable futu￿.
Thu5 the Trustees continue to adopt the going concern basis of accounting in preparing the financlal
statements.
Income
Income is recognised when the charlty 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 ha5 been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
time ofthe donation.
Le8acle5 are recognlsed on receipt or otherwise if the charlty has been notified of an impendlllg
dlstribution, the amount is known, and receipt is expected. If the amount Is not known. the legacy 15
treated as a contingent asset.
io-

The Shandford Trust
Registered Charity No: 1192048
Notes to the Financial Statements
For the Year Ended 31 December 2024
Expendlture
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement, and the amount of the obligation can be measured reliablv.
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.
Expendlture
2024
2023
Room Hire
Adminlstration
Postage and Stationery
Website and IT
Bank Charges
Accountancy Fees
Legal Fees
Costs relating to Gardeners Cottage
96
550
95
989
65
620
20
58
60
977
32,107
34,878
29,206
30,612
Less Prevlous Year's Accountancy Fees
660
34,878
29,952
Land and Bulldlngs
This represents money paid for the acquisition of land/property at East Budlelgh Road, which is to be
used for the construction of three Almshouses.
Trustees
None of the TrL¢Stees lor any persons connected with them) received any remuneration or benefits
from the charily durlng the year.
li-

The Shandford Trust
Registered Charity No: 1192048
Notes to the Financial Statements
For the Year Ended 31 December 2024
Employees
There were no employees.
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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to
its charitable objects.
Loans and overdrafts
There were no loans or overdrafts during the year12023- none).
Credltors
There were no amounts falling due to creditors during the year12023 - none).
Related party transactions
There were no di5closable related party transaction5 during the year12023- none).
12-