harity registration numb•r 200769 (England and Wale¥}
SOUTH MOLTON COTTAGE HOMES
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

SOUTH MOLTON COTTAGE HOMES
LEGAL AND ADMINISTRATIVE INFORMATION
T￿￿tee$
S White
S C Squir8
L ￿nter
Revd Dr M Grandey
P Henderson
IAppoint¢d 31 January 2025}
Charity numbèr (England and Wales)
2CK)759
Ch•ibty contact
Mr Stephen
Crossèview
40 Brook Meadow
South Mollon
Devon
EX36 48N
Ind•p•ndent ex*mlner
M8tthew Webb FCA
Azèts Audit SeNces
UnitA, Woodlands Court
Truro Busine55 Park
Truro
Comwall
United Kingdom
TR4 9NH
Bankèvg
Natwest
41 High Str¢el
Bamstap
Oevon
EX31 1HJ

SOUTH MOLTON COThAGE HOMES
CONTENTS
P•g•
Trustees. rewl
Independent examiners report
Stslem8nl of finanual activities
Bal8n¢e sheet
Notes to the finaneAal Statem￿*$
6-11

SOUTH MOLTON corrAGE HOMES
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Irustees present their annual report and finan¢ig1 slatements for the year en(Jed 31 March 2025.
The finanryal stslemenls have been prepared in am)rdan¢e with accounting poliae8 Set out in note 1 to thg
financial statements and Comply wilh the Gharty's governing do¢ument. the Charities Act 2011. FRS 102 'The
inancial Reporb'ng Standard applicab￿ in the UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charities: Slalemenl ol Recommended Pradice applicable to charities preparing their accounts in
a¢¢ord8n¢e with the Financial Reportin9 Standard applicable in the UK and RepU￿le ol Ireland IFRS 1021"
Oble¢tlv•8 and actlvlti•s
The tharity registered as a charily on 22 Dacember 1961. 11 is govomed by the scheme of Htqh Court of Justice of
23 June 1930 varied by schemes 0111 August 1970, 28 March 1972 and 12 November 1990. Its objectives are the
provision and maintenance of homè5 for poor single people of at least 60 years of age and poor married couples,
one of whom shall be at least 60 years of age and who {except in 5perAal case5 to be approved by th8 charty
commissioneTS) are to ￿ inhabitants ofthe area of benafft.
The main activities are to prowd• for the Residents, the manag¢m•nt and maintenance of the Homes. pathways
and land, induding the ￿ttIng ba¢k of the hedges adjacent to thè main road.
Our objects've is to ensure the Alm8housès are in good condition and fom)Ing a sustainable communty which will
enhance the life expectancy for our rèsidents. Tha Home5 will always bg occupied for the benefft of the Publ￿ who
meet the requirements of the Charitls Mleria.
PublK benefrt
The Iruslees have paid due regard lo guidance bsued by the Charity Commlssion in decvjing what activities Ihe
haiity should undertake.
During the ye8T we have had scaffolding erected on o¢(xsions. once for gully and roof repairs and again when
Ihe soffits, bargeboards, guttèring and downpipes were fitted.
A¢hlovgm8nts and porfoTm•n¢•
Significant activities and aCth-0￿Mgnt$ againsl obJectiv8s
South Mollon Cottage Home5 is an Almshouse Chanty and receives rts finances from maintenance eontributions
from Ihe residonls of thè eight Cottag85 at Lamalon Park, South Mollon North Devon EX36 4BG. The Charity has a
Managernent Agreomenl with North Devon Homes Ltd to provldg ¢over 24ri for all emergency and maintenan¢
work.
All the appropriate annual checks have carried out and, during the past iwelv¥ months, we have continued
wilh Qui PTogram of improvements wlh the upgrading of the paths lo the front of the cottages and prowding a built-
In ramp allowing for wheelchair and buggy
l( has also tsken pl￿e for thè replacement of 811 SC•ffrts, bargeboards, downpipes and guttèrs to 811 thè cotta9èS.
work has improved the well-being ol all our Residents renewing and widening the paths, providing a ramp for
wheelchair and buggy access, impromng the Homes and ensuring that all safety requirements are met.
Financi#l r•vlèw
For the year ended 31 March 2025, Soulh Molion Cottage Homes had an incomè of £44,43412024-. £67,282), net
outgoing resources of £57,353 12024.. £17,643) and net gains from investments of £342 12024.. £299). General
unrèstrictad funds decreased from £238,930 10 £226,353.
Reserves policy
The Charity is in a good financial Stste 8nd, to attfact higher inter851 on our funds, we have increased our reserve
ac¢ounl lo cover arhy unforeseen c4rcumslan¢e$ should they arise and lo cover any fvlurè major WO￿$. e.g. new
roof or seGtion$ thereof, refurbish the Homes as they become empty, el
Invgstmgntpolicy
The Trustees have tha pow8r to inv•sl in such as$8ts as they fed is appropriate lo the Charity.

SOUTH MOLTON COThAGE HOMES
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2025
Mwrrisks
The Trustees have rewewed all known risks and have $aty'$fied Ihemsglves that Ihete are adequate systems and
procedures in place to mitigatg the risks identffied.
Stru¢tur•, gov•man¢e and management
The trustees who served during the year and lo Ihg date of signature of the financial stslernen15 were-.
S White
S C SquSr¥
L Wnter
Revd Dr M Gran¢*y
P Henderson
(Appointed 31 January 20251
RecnHlmenl and appointmert of trustees
New Trustees are appointed by a democratic process and l am pleased to rèport that Mr. Paul Hend8rson, a bcal
businessman and town fAJunallor, has become a Trustee as and from 314t J8nuary 2025.
South Moltcpn Cottage Homes comes under a Charity Commission S¢heme. As the Charity Commission and
Almshousfy Asso¢iation arè awgrg. obtaining trustees can be dtfficutt. We have found that many people are not
preparÈd to take on thè responsibilty for Almshouses along with all the red lape and regulations. How¥ver. il has
boen our practice to advertise in the local newspaper, place notices on the Town CouncAI nots'ceboards, in shops and
on social media, as well as direcl approaches lo suitable individuals. Despite appoinling one n&w tru$teg in January
2025. wè are still a trustèe shcrt and a￿ looking to fill that vacancy.
have one ex-officio trustee - the inCUm￿nI of the pr¥senl Benefice of South Mohon, Rev. Dr. M. Granday.
appointed by the Church Commissioners.
South Mc4ton Cottage Homes do not employ any staff and no remuneration was paid to Trustees. We have
Trustees who have seNed for over len years and. along with the other Trustaas, are revigwed at the appropriate
time.
The tru5tees' report was approved by tho Board of Truste•s.
S Whrte
Trustee
Revd Dr M
Trust••
andey

SOUTH MOLTON COTTAGE HOMES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SOUTH MOLTON corrAGE HOMES
I report to the trustee8 on my examination of the finanual statements of South Motton Cottage Hornes Ilhe chartyl
for the year ended 31 March 2025.
ResponsSblllll•¥ and basls of report
As the trustees of the chartty you are re$ponsible for the preparation of the finanual statements in accordanee with
tho rgquirements of the ChairtiesAct 2011.
I report In respect of my examination of the charity'$ fin8ncial statements carrled oul under seclSon 145 of th8
Charities Act 2011. In ¢arrying out my examination I have follow8d the Directions given by the Chaiity Commission
urHler sethon 14515)Ib) of the Charihes Act 2011.
Indgpgnd•nt oxamlnerfs $tstsmènt
Your attention Is drawn lo the fact that the ch8rity has prepared the financial 5talemenl$ in 8e¢ordancè with the
relevant version of the Statement of Rec4)mmended Practice applicable to charities preparing IheiT finan¢i81
statements in xc4)rdance with the Finanaal Reporting Stsndard applicable in the UK and Republic of Iref8nd IFRS
102) in prelerence Its the A¢¢ounting and R8porbng by Ch8rilies'. Statement of Recommended Practice i55ued on 1
April 2005 which is referred to in the extant regulations bul ha8 now bogn withdrawn. l understsnd that this has
b￿n done in order for the financial ststem¢nts lo provide a true and fair view in accordance with UK Generally
A￿epted Accounting Practice.
I have complgteil my examination. I confim that no matters have come to rny 8ttenlion In ¢onne¢tion with the
exominalion giving me cause to believe Ihal in any m8leri81 respect..
accounting records were not kèpt in respect of the charity as required by section 130 of the Charities Act 2011.
th• financial stalemenls do not accord with ihose record8-, or
Ihe financial Statements do not comply wrth the applicablè rèquirements concerning the fom and content of
finanual stslements set out in the Charities IAc¢ounts and Reports) Regulations 2008 otheT than any
requirement that th& fina￿la1 statements give a true and fair view, which is not a matter considered 8$ part of
an independent examination.
I havg nc* ¢oncerns and have come a￿055 no other matters in connection with thè examination to which atteni*)n
should bè drawn in this report in order to enable a proper understanding of the finan¢i81 statements to be reached.
Plalth¢w W•bb FCA
Azets Audit Servi¢es
UnitA, Woodlands Court
TrLWO Business Park
Truro
Comwall
TR4 9NH
Date..

SOUTH MOLTON COTTAGE HOMES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Unr•*trfet•d
funds
2024
Notss
Income and endowments from:
Charrt8blè 8diMtIÈs
Inveslm$nts
Oth8r income
43.086
1,321
27
41,645
610
25,027
T¢)tal income
44,434
67,282
Exp8ndltur• on:
Charitable activiti8s
57,353
17.643
Total expendlture
57,353
17.643
Net gainslOosses} on investments
342
299
Net in¢omel1expendl￿r*I •nd movement in fund$
112.577)
49,938
Reconciliation of funds:
Fund balances al 1 April 2024
238,930
188,992
Fund balanc￿ at 31 March 2025
226,353
238,930
The statement of financial actiwlies includes all gains and k)sses recognised in the year. All income aTrJ expenditure
derivg from conl'nuing activities.

SOUTH MOLTON COTTAGE HOMES
BALANCE SHEET
ASAT 31 MARCH 2025
2025
2024
Nots$
Fixed a¥*ts
Inve$tm•nts
10
5,270
4,928
Curr•nt a￿•ts
Dèbtors
Cash at bank and In hand
11
21.728
216,113
29.061
222,229
237.841
251,290
Cr•dltors: amounts falling du• wlthln
ont y￿r
12
{16,758}
(17.288>
Net Currènl *¥$•ts
221.083
234.002
Total as$•ts1•g8 current Ilabllltl•$
226,353
238,930
The funds of th• charity
Unrestricied funds
228,353
238.930
226,353
238,930
The finan¢i81 slalemenl$ were approved by trustees on l.w-. i-zol
S ￿lIe
Trusts•
Rwd Dr
Trustee
ndey

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A¢¢ounting ptyli¢i•s
Charity infonnation
South MO￿On Cotta9e Homes is an unin¢orpora19d Charity. govemed by the s¢hgmg of High Court of Justice
of 23 June 1930 waried by s¢heme$ of 11 Augus11970. 28 Marth 1972 and 12 November 1990, as amended
on 18 O¢tober 2017. 10 June 2021 and 21 February 2024.
1.1 A¢¢ounting ¢onvention
The finan¢ial stslemenls have been prepared in accordance with thaiity's goveming docurnenl, the
Charrties Act 2011, FRS 102'The Finanual Reporting Sland8rd applicable in the UK and Republic of Ireland"
the Chaiities SORP "Accounting and Reporting by Chaiities. Staternenl of Recornrnended Practice
8ppl"cablÈ to eharrties prèparing thèir 3c¢ounts in ac¢ordan¢e wth the Financi31 Reporting Standard
appficable in the UK and Republic of Ireland IFRS 1021. The charity is a publ￿ Benefii Entity as defined by
FRS 102.
The charity has taken advantage of the provisK*ns in the SORP for chaiitses not to prepare a $t*menl of
cash flows.
The fmancial stslements have departed fr¢)m the Charities IA¢¢ount$ and Report$l Rogulalions 2008 only lo
the extent required to promde a truè and fair view_ This departure has involvèd folk)wing thè Sl#lemenl of
Recommènded Practi¢8 for Charitiés applying FRS 102 rather than the version (>f the Slalement of
Recommended PractiGe which 15 refewted lo in the Regulations but which ha5 since been withdrawn.
The finanL¥al statements are prepared in sterling, which is the functional curiency of the charity. Mone¢ary
amounts in these financial statements are rounded to the nearest £.
The finar￿la1 slatemenls have been prepared und&r the historical cost convention, modthed lo in¢lud$ certain
finanaal instruments at lair value. The princApal accounting policies adopted ar8 set out b810w.
1.2 Going ¢on¢em
At the time ol approwng Ihe finanerdl $¢al¥menl$. the Irusteè$ hav• a rgasonable •xpeetalion that the charity
has adequate rèsources to continue in operational existèncè ft)r the forèseeable firturè. Thus the trustees
Jnlinug to adopt the going ¢oncgm bgsis of a¢¢ounling in preparing the financial $talgments. There are no
alerial urKertainties whiGh may ¢reale swJnificanl doubl over the chaiiws alxlity lo continue as a going
ncefn.
1.3 Charitabl• fvnd$
Unrestricted funds are available for use at the discretion of the trustees n furtherance of their ¢haritabl&
otyeclives.
1A Incomg
In￿me is recognis¢d when the Charity Is18gally enlllled lo It 8fter any perfomance conditions have been mel.
the amount$ can be measured reliabty, and il 15 probable th41 inG(¥ne will be receive¢J.

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng poll¢le8
Icontinued
l.S Exponditur•
Expenditure is re¢ognis8d once there is 8 legal or conslruthe obligation lo Iran$f&r economic benefft lo a
third party. il is probabl¢ that a transfer of econoffli¢ t*nefts will be required Sn settlement. and the amount of
the obligation can be measured reliabty.
Expenditure is classified by 8ctiwty. The costs of each *fvity are mad8 up of 1he total of dir8d costs and
shared ￿$1s, including 8upport ¢osts invofv8d in undertaking éach ackn'vity. Direct cost5 attributable lo 8 $in9le
aetiwty allocated directly lo Ih8t aetiwty. Shared costs which contribule lo more than one acti¥lty and
8UPPOrt costs which are not attributable lo a single a¢￿'vIty are apportioned be￿0•n those aclivilie$ on a basis
consistènl wilh the use of reSoUr￿s. Central staff costs are aNo¢ated on the basis of tirne spent, and
depwalion charges are allocated on tha poiton of the asset's use.
1.0 Fixèd ass•t 1fiV￿tm•nts
Fixed asset investments arè Initial￿ measured at transaction price exduding Iransadion Costs, and are
subsequentty measured * fair vaSue at each reporting dale. Changes in fair value a￿ re￿nised in n8t
Jmellexpenditurel for the year. Transaction costs arè exp8ns8d as incurred.
1.7 Cash and cash equlv*l•nts
Cash and cash èquivalents indude cash In hand, deposits held al call wtth bank$. other short4em liqui
investments with original maturities ol three NK)nth$ or less. and bank overdrafts. Bank overdrafts are shown
within bofrowings in eurrent liabilities.
I￿ Fin•n¢lal Instruments
The charity has elected lo apply the prO￿S1o￿6 of So¢tion 11 'Basic Finantyal Instruments, and Sect*Jn 12
'Oth•r Financial Instruments Issues. of FRS 102 to all of its financial instwments.
Financial instruments are recognis￿ in the charivs balance sheet when Ihe charity becomes paty to the
¢ontractual prowsions of the instrument.
Finan￿al assets and liabilities ale offsel. vmlh the nel amounts presented in the financial sl8temenls, when
there is a lègalty enforcLable r￿h1 lo sel off the recognised amounts and there is an intention to Sett￿ on a nel
basis or lo reallse Ihe asset and setue the liabilrty siM￿taneOUSly.
Baslc linancial ass•ts
Basic finan¢ial assets, which indude dèbtors and cash and bank balan¢es. are initially measured al
transaction pri¢e In¢luding transaction costs and ar8 subsequently carrièd al amorbsed cost using the effe¢tive
interest method unless the arrangement ¢wstitutes a financing trans8¢tion, whare the transaction is
rneasured al the Pfesant value of the lulure ie¢eipls discounted at a market rate of interest. Finanaal assets
dassified as receivable within on8 year are not amortiS8d.
8asle finanelalllabilitse$
Basic financial liabilities, including creditors and bank loans are initially recogni5ed al Iransa¢tion price unless
th& arrangement con$litut&s a financing trahsaetion, whère the debt instrurnent is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities dasslfied as payable
within one year are nol amortfj$ed.
Debt instruments are sub8equenUy carried at amortised cost. using the éffective intere61 rale rnelhod.
Tradè ueditors are obligations to pay for goods or services that hava been acquired in the ordinary course of
oper81ions from suppliers. Amount5 P8yabl& are dassified as current liabilitias if payment is due wrthin onè
yeaT or le55. If not, they are presented as non-current liabilities. Trade creditors are recogni5ed initially al
transaction pri￿ and subsequentty measuwd al amortised Lx)sl using Ihe gffedive inl8r8st method.

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng polkl
(Continued)
Derg¢ognlllon of Ilnan¢lalllabllhle$
FinanLYal liabil￿eS ore derewgni$ed w￿n the ¢harfty's conlra¢iual obligation8 frxplre or are distharged or
can￿lIe(l.
Income from charitable aclivities
Unr•sbICt￿ Unrnstri¢t
lunds
lund$
2025
2024
Chailt*bl¢ 4¢tMtle8
Contributions from occupants
43.086
41.645
Income from inv•stments
Unrestricted Unr•stsl¢tsd
fund¥
Ivnds
2026
2024
Interest receivable
1.321
610
Other income
Unrostrl¢ted Unro$trl¢t•d
funds
funds
2025
2024
Nalional Grid W8yle8ve
Land Sale
27
27
25,0(Kl
27
25.027

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED
FOR THE YEAR ENDED 31 MARCH 2025
Expenditur• on ¢harltabl• aclSvltl•s
charilable
actNitie8
202S
Charilablg
a¢tlvltl•$
2024
Direct co$ts
Water rale$
Insurance
General repairs
Management fe8s
Honoraria
Alm$housÈAssocialion
Advertising
Sundry
1,5S2
1,305
46,357
4,848
250
375
30
106
1,942
1,286
8,215
4,617
250
263
54,823
16,573
Share of support and governanc• costs l$•• note 61
Goveman¢&
2,530
1.070
S7,353
17,643
Anatysls by fund
Unrestrictod fund8
57,353
17,643
Support costs allocated tr* activiti•s
2025
2024
Govemance costs
2,530
1,070
Analysod betweèn:
Charitable activitie5
2,530
1.070
2025
2024
Goveman¢e ¢￿ts compris•:
Independanl Ex8minatic
Accountancy
1.200
400
670
2.530
1.070

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
TnvJte•8
During the yeaf. tru$18•$ wera reimbursed £106 12024 - £nill for travel cos15 incurred in their dull85 as
trustees.
None of the trustees {or any persons ¢onneded wrfh them) re¢eived 8ny rernuneration from the charity durirffJ
the ygar.
Goln• and IoM•8 on Invè#tmonts
Unrestricted Unrestrict•d
funds
funds
2026
2024
Gainslllosses) arising on..
Revaluation of investments
342
Taxation
The charity is exempt from laxalion on ils acllvities because all 118 income18 applled for charitable purposes.
10 Flx•d a8¥èt Investments
Unlisted
Investmonts
Cost or valuation
At 1 April 2024
Valuation thang8$
4,928
342
At 31 March 2025
5,270
Carrying amount
At 31 March 2025
5,270
At 31 Mar¢h 2024
4,928
11 Dèbtors
2025
2024
Amounts falling due within one y￿r
Trade debtors
Prepayments and accrued income
20,912
816
28,459
602
21,728
29,061
10-

SOUTH MOLTON COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
12 Cr¢ditors: lmounts lalling duo within on• y•ar
2025
2024
Trade creditors
Accruals and deferred Income
14,294
2.464
16,488
800
16,758
17.288
13 Related party tr•ns•ctlo
There were no di￿10$¥ble related party transactions during the year {2024- none).
11