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 1 ## **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 2 ## **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 3 ## **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**| |---|---|---| 4 ## **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**| |---|---|---| 5 ## **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**_ 6 ## **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| |---|---|---|---| 7 ## **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| |---|---|---| 8 **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| |---|---|---| 9 ## **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
-| |---|---|---| 10