2025-12-31-accounts

The Marshall and Browne Memorial Homes Accounts Year Ended 31 December 2025 Charity Number 201395

The Marshall and Browne Memorial Homes

Reference and Administrative Details

Year Ended 31 December 2025

Marshall and Browne Memorial Homes is an unincorporated registered charity (no. 201395). It was established to administer the properties known as Mrs Marshall's Memorial Cottages and the Browne Memorial Almshouses under a governing document dated 8th June 1978.

The principal address of the charity is 46 Chaucer Road, Tavistock, Devon, PL19 9AJ.

Main agents:

Independent Examiner

Darren Perry ACA Francis Clark LLP Unit 18, 23 Melville Building East Royal William Yard Plymouth Devon PL1 3GW

Bankers

TSB Bank Plc Bedford Square TAVISTOCK Devon PL19 0AG

Investment Advisor

Brewin Dolphin Vantage Point Woodwater Park Pynes Hill EXETER EX2 5FD

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The Marshall and Browne Memorial Homes

Trustees' Report

Year Ended 31 December 2025

The Trustees present their report and the Receipts and Payments Accounts of the charity for the year

31 December 2025.

The charity Trustees who acted during the year were as follows:-

W S Lake (Chair) Mrs J Tremaine F Lawrence (Vice-Chair) Mrs A Dawe Mrs J Williams (Retired 22 May 2025) Mr J G Talbot Mr D Carr Mr R Godfrey Mr J Olver Mr O Moore Mrs A Gould Mr R Jones

New Trustees are elected by the Board of Trustees and serve until retirement.

Aims and organisation

The object of the charity is to maintain and run the properties known as Mrs Marshall's Memorial Cottages and the Browne Memorial Almshouses. The homes shall be appropriated and used for the accommodation of residents, being persons who through misfortune have become reduced from better circumstances, and are resident in the area and are not less than 60 years of age.

The charity has complied with the duty in section 4 of the 2011 Charities Act to have due regard to public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives and in planning future activities.

The charity employs two wardens who oversee the residents.

Review of progress and achievements

The charity has continued the upkeep of its properties with particular emphasis on health and safety regulations.

Financial review

As shown by the receipts and payments account, there were net payments in the year of £8,412 on the general fund, including cyclical maintenance and extraordinary repair funds.

Reserves policy

Any surplus funds generated by the charity are accumulated until there are sufficient funds on hand to provide further accommodation to fulfil the charity's objective and to cover necessary expenditure under health and safety regulations. As at 31 December 2025, the charity had cash reserves of £91,575 (2024: £105,618).

Investments selection policy

Brewin Dolphin manages the portfolio of investments on a discretionary basis. The Trustees have specified to Brewin Dolphin that they require a certain level of income from the capital of the charity each year and this is to be discussed annually between the Trustees and Brewin Dolphin. Decisions regarding investment selection are made by Brewin Dolphin on a day to day basis in order to capitalise on investment opportunities. The Trustees set out an Investment policy statement to Brewin Dolphin in accordance with the Trustee Act 2000. This statement outlines that the Trustees have selected a balanced investment objective with medium risk, the long term aim being to increase the value of the charity's assets.

Approved by the Trustees on 19 May 2026 and signed on their behalf by:

W S LAKE

For and on behalf of the Board of Trustees

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The Marshall and Browne Memorial Homes

Independent Examiner's Report to the Trustees of The Marshall and Browne Memorial Homes

I report to the trustees on my examination of the accounts of The Marshall and Browne Memorial Homes for the year ended 31 December 2025, which are set out on pages 4 to 7.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act or

2. the accounts do not accord with those records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

D PERRY

D Perry ACA Francis Clark LLP Chartered Accountants Unit 18, 23 Melville Building East Royal William Yard Plymouth Devon PL1 3GW 01 July 2026

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The Marshall and Browne Memorial Homes

Receipts and Payments Account

Unrestricted General Fund including Cyclical Maintenance and Extraordinary Repair Funds

Year Ended 31 December 2025

Receipts Income Receipts From Assets Investment income Deposit interest Other Income Maintenance contribution Other income Total Receipts for the year Payments Charitable Activities Services Repairs Gardens Sundries Other Expenditure Total Payments for the year Net of (Payments)/Receipts Balance at 1 January 2025 Balance at 31 December 2025	£ £ 56,514.20 883.29 57,397.49 47,117.53 3,886.67 108,401.69 51,345.24 36,516.79 9,505.50 627.00 97,994.53 18,819.48 116,814.01 (8,412.32) 64,036.26 55,623.94 2025	£ £ 61,931.97 989.64 62,921.61 45,730.60 212.95 108,865.16 51,552.49 31,555.16 9,444.46 584.00 93,136.11 18,695.36 111,831.47 (2,966.31) 67,002.57 64,036.26 2024

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The Marshall and Browne Memorial Homes

Receipts and Payments Account

Permanent Endowment Capital Fund

Year Ended 31 December 2025

Investments Gross sale proceeds from the sale of investments Payments for investment assets Stockbroker fees and commission on purchases Stockbroker fees and commission on sales Investment Management fee Total Payments Net of (Payments)/Receipts Balance at 1 January 2025 Balance at 31 December 2025	£ £ 690,116.77 680,154.37 42.20 65.65 15,485.58 15,593.43 695,747.80 (5,631.03) 41,581.84 35,950.81 2025	£ £ 356,912.43 336,707.46 30.44 34.51 15,002.22 15,067.17 351,774.63 5,137.80 36,444.04 41,581.84 2024

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The Marshall and Browne Memorial Homes

Statement of Assets and Liabilities

Year Ended 31 December 2025

Monetary Assets

Cash Fund at 31 December Current account Deposit accounts Stockbroker accounts Note 5 Total Monetary Assets Liabilities Independent examination fees Brewin Dolphin Management Fees Non-Monetary Assets Permanent Endowment - Held for investment purposes Capital Fund (Note 6) Government Stocks & Debenture Loan Stock Other Quoted Securities Land Sale Fund Government Stocks & Debenture Loan Stock Other Quoted Securities	General Fund £ 7,820.95 44,940.53 2,862.46 55,623.94	Capital Fund £ - - 35,950.81 35,950.81 Cost £ 221,296 1,400,415 1,621,711 34,244 271,102 305,346	2025 Total £ 7,820.95 44,940.53 38,813.27 91,574.75 1,740.00 4,005.00 5,745.00 2025 Market Value £ 216,286 2,066,304 2,282,590 33,835 345,044 378,879	2024 Total £ 14,016.25 46,458.90 45,142.95 105,618.10 - 3,890.00 3,890.00 2024 Market Value £ 213,919 1,900,935 2,114,854 33,480 302,630 336,110

Land and buildings used by the charity:

Mrs Marshall’s Memorial Cottages and Browne Almshouses (vested in the Official Custodian for Charities)

Other Assets (non-endowed) Extraordinary Repair Fund (Note 6) Other Quoted Securities	Cost £ 12,322 12,322	2025 Market Value £ 182,659 182,659	2024 Market Value £ 186,291 186,291

Approved by the Trustees on 19 May 2026 and signed on their behalf by:

CHAIRMAN -

W S Lake

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The Marshall and Browne Memorial Homes

Notes to the Accounts

Year Ended 31 December 2025

Accounting Policies

The accounts have been prepared on a receipts and payments basis which complies with section 133 of the Charities Act 2011.

2 Trustees' Remuneration and Expenses

No remuneration nor reimbursement of expenses were paid to any Trustee during the year or the previous year.

3 Independent Examiner's Remuneration

Independent Examiner's Remuneration	2025	2024
	£	£
Independent Examiner's remuneration	1,626	1,548

4 Staff Costs

Two wardens were employed during the year. No employee earned more than £60,000 per annum.

5 Related Party Transactions

Payments totalling £6,882 (2024: £2,675) were made to Moore Builders, a business owned by O Moore, Trustee, for general building and maintenance services provided during the year.

6 Reconciliation of investments held

Reconciliation of investments held Brewin Dolphin portfolio Fund 1 General Fund Less cash at bank Less dividends pending General Fund COIF Investments Brewin Dolphin portfolio Fund 2 Land Proceeds Fund Less cash at bank Less dividends pending Extraordinary Repair Fund COIF investments Stockbroker cash balances above Brewin Dolphin portfolio Fund 1 General Fund Brewin Dolphin portfolio Fund 2 Land Proceeds Fund Dividends not paid into general fund Charges to be paid by general fund Overpayment of sales proceeds to investment account Stockbroker cash	Cost £ 1,646,064 (23,242) (1,128) 18 1,621,712 309,142 (3,774) (22) 305,346 12,322 12,322 1,939,380	Market Value 2025 £ 2,214,141 (23,242) (1,128) 92,819 2,282,590 382,675 (3,774) (22) 378,879 182,659 182,659 2,844,128 23,242 3,774 27,016 (17,596) 30,209 (816) 38,813	Market Value 2024 £ 2,023,396 (4,004) (2,024) 97,486 2,114,854 363,635 (27,193) (332) 336,110 186,291 186,291 2,637,255 4,004 27,193 31,197 (17,596) 32,358 (816) 45,143

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The Marshall and Browne Memorial Homes

Management Information Schedule A

Unrestricted General Fund

Schedule of Receipts and Payments

Year Ended 31 December 2025 RECEIPTS Investment income Bank Interest Other Income Wayleaves Heating allowances Transfer from Cyclical Maintenance Fund to cover Wardens' wages and Gardening Total Income PAYMENTS Charitable Activities Services Wardens' wages Alarm system Insurance Light and heat Water rates Transfer to Extraordinary repair fund Gardens Gardening Balance carried forward	2025 £ 56,514.20 883.29 57,397.49 16.67 3,870.00 26,346.57 30,233.24 87,630.73 16,841.07 2,509.64 2,876.73 20,954.07 8,163.73 15,745.83 67,091.07 9,505.50 9,505.50 76,596.57	2024 £ 61,931.97 989.64 62,921.61 12.95 200.00 26,422.70 26,635.65 89,557.26 16,978.24 3,012.04 2,789.00 22,911.20 5,862.01 12,247.26 63,799.75 9,444.46 9,444.46 73,244.21

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Management Information Schedule A

The Marshall and Browne Memorial Homes

Unrestricted General Fund

Schedule of Receipts and Payments Year Ended 31 December 2025 Balance brought forward Sundries Gratuities Vouchers Other expenditure Telephone, postage & printing Secretarial Accountancy fees Subscriptions Sundry expenses Advertising Professional fees Building project Total Payments Net of Payments Opening balance Closing balance Total General Fund Balance General Fund Cyclical Maintenance Fund (Management Schedule B) Extraordinary Repair Fund (Management Schedule B)	2025 £ 76,596.57 177.00 450.00 627.00 943.88 6,666.64 1,626.00 - 1,482.41 280.00 1,220.55 6,600.00 18,819.48 96,043.05 (8,412.32) 64,036.26 55,623.94 55,623.94 - - 55,623.94	2024 £ 73,244.21 184.00 400.00 584.00 1,131.56 6,500.00 1,548.00 120.00 10.80 - 427.00 8,958.00 18,695.36 92,523.57 (2,966.31) 67,002.57 64,036.26 64,036.26 - - 64,036.26

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The Marshall and Browne Memorial Homes

Management Information Schedule B

Year Ended 31 December 2025 Unrestricted Maintenance and Repair Funds Cyclical Maintenance Fund RECEIPTS Maintenance contribution PAYMENTS Plumbing & heating General repairs Electrical checks and repairs Total Payments Net of Receipts Transfer to Extraordinary Repair Fund Transfer to General Fund 2025 Net of Receipts after transfers Opening balance Closing balance Extraordinary Repair Fund RECEIPTS Transfer from Cyclical Maintenance Fund Transfer from General Fund Interest Received PAYMENTS Flat roof works Renovations New boilers Total Payments Net of Receipts/(Payments)	2025 £ 47,117.53 47,117.53 961.64 7,693.78 358.11 9,013.53 38,104.00 (11,757.43) (26,346.57) - - - 2025 £ 11,757.43 15,745.83 - 27,503.26 - 18,445.96 9,057.30 27,503.26 -	2024 £ 45,730.60 45,730.60 9,606.76 4,411.46 2,669.85 16,688.07 29,042.53 (2,619.83) (26,422.70) - - - 2024 £ 2,619.83 12,247.26 - 14,867.09 6,000.00 - 8,867.09 14,867.09 -

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