Charity reglstrntlon number 201444 {England and Walas) DEVIZES MUNICIPAL CHARITIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
DEVIZES MUNICIPAL CHARITIES LEGAL AND ADMINISTRATIVE INFORMATION Trustees The Trustees as at 31 December 2025 on the dale the Trustees, Report was approved were as follows.. Mr S McGregor-Jthnson Mr C Lucas Mr JG Jones Mr P Bennett Mr R Akernian Mr DSW Elliott Mr PP Dud(ett Mrs C Blyth Mr D Bufgess Mr P Kent Chairman Joint Vice Chalmian Joint Vlce Chairnan Offlcer8 Mr P Bennett Mrs R Jeffries Mrs L McGLffiog MrA Kettloly Treasurer Clerk Assistant Clerk Properb"es and Malntenanc@ Co-ordinator Charlty number 201444 Principal address Thg Clerk to the Trustees Slade House St Jame8, Garden$ Devizes Kshire SN10 1EL Indgpgnd•nt •xamlner David Owen & Co 17 The Market Place Devizes Wlishire SN10 1HT Bankers Lloyds Bank pl¢ 38 The Mark81 Place Devizes Ilshire SN10 1JD Solicltors Awdry Law 33 St Johns Street Devizes Itshire SN10 1BW In8uran¢a Grout Insurance Brokers 2nd Floor WOOlCh House 43 Sl George House Croydon CRO 1LB
DEVIZES MUNICIPAL CHARITIES CONTENTS Pago Trustees, report Independent examineffs report Statement of financial adivities Balance sheet Notes to the financial stslements 6-10
DEVIZES MUNICIPAL CHARITIES TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present their report and 8ecounts forthe year ended 31 December 2025. The finanryal stalemenls have been rffepared in accordanee wrth the accounting polities set out in nol8 1 to the financial slalements and Comply wth the charitys Igoveming dCUMent1. the Charities Act 2011 and "Aceounting and Reporting by Chariti'e$'. Ststement of Recommended Practice applicable to ch8rities preparing their accounts in ardance wth the Financial Repong Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 20191" ObJectlv•s and activltl•$ Objectives The objective of the charity is to provide funds for.. Sl John's Church. Devizes. Wltshire Needy people of the Parish of St Mary's, Oevizes, Wllshire b) The trustees have PaKI due regard to guidance issued by the Charity Commission in deciding what activities the charty should undertake. Achlevements and perfomiancg Regular payments continue lo be made to St John's Church. Flnanclal revlew The key objedive is to provlde fijnds to St John's Church and thls objectlve contlnues to be fUlled. No urgent qUeStS have been received in respect of the St John's and St Mary's Poor Funds and the trustees have not identified any suth need. It has been agreed by trustees that Sl John's Church is better placed lo identify such needs and mechanisms have been put in place to periodicalty pay tho in¢ome ac¢ru¢d lo the d)urch lo lulfil needs in line with the original spirit of the gift. ReseNes Pollcy The balance hekl a8 restricted funds as at 31 December 2025 was £638,021. The charity's policy on holding reseNes is to ensur& suffiaent funds for the maintenance of the investment property, which the tru51ees anticipate, wll require substantsal refurbishment in due wurse ol lime. The liming of Such fLrture expenditure will b8 depend8nt upon th8 occupation of the property by the tenant, and any fvture vold pe0d. Fundlng The charty's sole Sour of income arises from investments i.e. investment property and quoted investrnent5. Investment Policy The investment policy is to maintsin the investment property, with the r?maind¢r in readily reali$able investments should unexpected expenditure be necessary. The trustees consider continuing investment in the property lo be the most appropriats investmenl vehide for retums both in th8 present and the future. Rlsk Management The trustees have coru¢ted their own review of the major risks to which the charity is frxposed and systems have be8n established lo mitigate those risks in accordance with best practu. Intemal risks are minimised by the implemenlalion of procedures for authorisation of all transactions and projects and to ensure eonsislenl quality of delivery for all operational aspects of the charity. These piocedures are periodKally reviewed to ensure that they still meet the needs of the charity.
DEVIZES MUNICIPAL CHARITIES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Plans forthg futur• The Iruslees, in relation lo long-lerni fviure of the investment propety will give consideration lo the creation of a Developm8nl Fund. The need for a Development Fund wll be reviewed on an annual basis and increased as and when surplus monles are available. A new lease with the CUTrenl tenant at 24 Market Place was completed in 2021 for 8 5 year temi. The Development Fund would reGognise the need to mod8rnise and develop the propety when a void peric¥J wcurs. structure. govemanco and management Govemlng Documonts The charity was ortginally established in 1837 when a number of small charities previously under the trusteeship of Borough Burgesses and Churchwardens were brought together and administered by independent trustees. The first scheme was drwn up in 1877. This was the first official record of the various charities, which comprise the Devries Muniapal Charitses, and ils purpose was to confim the appoinlmenl of new trustees. The present scheme is administered under the Scheme of the Charity Commissioners established on 29 July 1904. Several 8maller charities were removed from the Central Register of Charities in 1996. The trustees vtho serv8d during the year were.. Mr D S WElliott Mr C Lucas MrJ G Jones Mr RAkemian Mr P P Duckett Mr S McGregor-Johnson Mf P Bennett Mrs C Blyth Mr D 8urgess Mr P Kent Governing Body The charity is administered and managed by a body of ten trustees. These ten Intstees also t¢¢ome trustees of the DevizesAJmshouse Charity. There are ¢urrenUy no Iruslee vacancies. Organlsatlon Management The Board of Trustees normally meets quarterly and the daY-l(daY management of the charity is delegated by the Irusle8S to the Clerk of the Trustees w) works in close liaison wth the Chaimian of Trustee$. Training for Trustees New Irusleès attend an introductory 8vent that includ&s a visit to the charity's investment prci)ety. Currant procedures, policies and responsibile$ are explained and a full briefing pack provided. Further training rf required is provide¢l as r*cessary. 1f of the Board of Trustees ohnson s18es 2028 an Date(1'. 22 Ju Tr
DEVIZES MUNICIPAL CHARITIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DEVIZES MUNICIPAL CHARITIES I report to the trustees on my examination of the financial Statements of Devizes Muniapal Charities Ith& chartyl for th8 year ended 31 DecenJer 2025. RKponslbllltlo$ and bas1• of roport As the trustees of the charity you are respOrIble for the preparation of the financial statements in accordare wth Ihe requifements of lh8 ChariliesAcl 2011. I report in respect of my examinatDn of the charity's financial ststements carrted out under sectK)n 145 of the Charities Act 2011. In carying out my examination I have followed the Directions given by the Charity Commission under section 145{5)Ib) of the CharitiesAct 2011. Independent examlne$ statement Your attention is drawn to th& fact that the chaiity has prepared finanaal statements in accorda with Accounting and Reporting by Charities pr8paring Iheir accounts in accordance wth the Financial Reporting Standard applible in the UK and Republic of Ireland {FRS 1021 in preferance to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the exlant regulations bul has now been withdrawn. l understand that this has been done in order for financial slalemenls to provide a Inje and fair view in accordance th GenerallyAcGepted Accounting PrartI effethive for Teporting periods beginning on ty after 1 January 2015. I have completed rny examination. l confirm that no matters have Gome to my attention in cornectJ th the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity a$ required by 8e¢tion 130 of the Charrtie8Act 2011. the finanaal stalemenls do not accord with those records., or the financial statements do not comply wth the Bpplicable requirements concEming the fomi and content of financial statements set out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requlrement that the flnancial statements give a Irt and fair vlew. whlch Is not a matter consldered as part of an independent examinalion. I have no eoncems and have come across no other matters in eonnection wth the examination to which attentb)n should be drawn in this report in ¢xder lo enable a proper UlerStarK1ln9 of the financial statements to t* reached. MrAndrew Coombes Davlql Owen & Co 17 The Mad(el Place Devizes kshlre SN10 1HT
DEVIZES MUNICIPAL CHARITIES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 R95trfcted fvnd$ 2026 funds 2024 Not•8 Income from: Investments 25,667 25,614 Expendilure on: Investment management 1,200 1,710 Charftable activities 13,316 13,1)84 Total exr*ndilure 14.516 14,794 Net gair)fJ{losses} on investments {3,704} 10.704 Net Income and movement In funds 7,447 21.524 Reconclllatlon of funds: Fund balances at 1 January 2025 630,574 609,050 Fund balanc68 at 31 Decembgr 2025 638.021 630.574 All income and expenditure derive from continuing activrties.
DEVIZES MUNICIPAL CHARITIES BALANCE SHEET ASAT31 DECEMBER 2025 2026 2024 Notes Flxed assets Inveslmenl properties Investments io 11 405,000 73,693 405,000 77.545 478,693 482,S45 Currgnt $91$ Cash al bank and in hand 163,629 157,043 Credltors: amounts falllng due vAthln one year 12 14,3011 {9,014) Net current assets 159,328 148,029 Total assèts le88 current Ilabllltle8 838,021 630.574 In¢ome funds R8Strict8d funds 13 638,021 630.574 638,021 830.574 The flnantyal statements were approved by the Board of Trustees on 22 June 2026 and are slgned on behalf by: Mr P Bennett Trustee: Chalmian of the Flnance Commltt•e
DEVIZES MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng pollcles Charity informatlon Devizes Muniapal Charitie5 is a re9iStered chanty. 1.1 A¢eounting conventlon The financial statemgnts have been prepared in aeeordance with the charity'$ gov8rnirvJ documert tr Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable lo charilies preparing their aUnIS in accordance wth the Financk91 Reporting Standard applicabk in the UK arKI Republic of Ireland IFRS 102)" {effecbve 1 January 2019). The charty is a Public Benefit Enlty as defined by FRS 102. The charity has tsken advantsge of the provi$ions in the SORP for tharities not to prepare a Ststament ot Cash Flows. The financial statements have departed from the Charoiles (Accounts and Reports) Regulalion$ 2C(18 onty to the extent required to provide a true and fair view. This departur8 has involved following the Statement of Recommended Practice for charities applying FRS 102 ralher than the version of the Statement of Recomm&nd8d Practi which is referred to in the Regulations but which has since been withdrawn. The financial statements a prepared in sterling. whrch Is the functional currency of the charity. Monetary amounts in these financial slalemenls are rounded to the nearest £. The financlal ststements have been prepared under the historical cost convention. moded to include the rovaluation of freehold investment properties and certain financial instruments al fair value. The prltKlpal accounting policies adopted are set OLrt bebw. 1.2 Golng ¢oncem the time of approving the financial ststemenls, the twstee8 have a reasonable expectstlon that the charrty has adequate resources to colltinue in operational 6XiStence for the foreseeable future. Thus the trlee$ continue to adopt the going ¢oncem basis of accounting in preparing the finanaal statement$. 1.3 Charltable fund$ Restricted lund8 ale subject lo specrfic conditions by donors or grantors as to how they may be used. The purposes and uses of the re$lrieted funds are set out in the notes lo the financial statements. 1.4 Incomlng resourcés Incoming resources from investment property ntaI$ and from investments are included when receivable. 1.5 R•sourees expended Expenditure is regnised once there is a18gal or conslruclive obligation to transfer economic tenefrt to a third party, it is probable that a transfer of 8conomic benefrts will be required in setlement, and the am¢yJnt of the obligation can be measured reliably. Resources expended are recognised on the accruals basi$ in the peiiod In which they are Incurred. Resour5 expended include attn"butable VAT which cannot be recovered.
DEVIZES MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles Icontlnuod 1.6 Inyestmont proporti Investment property, which is property held to eam rentals andlor for capital appreryats'on. is me88ured using the fair value nde1 and slated 81 its fair value as the reporting end date. Imiestment propertie$ are revalued al fair value al balance sheet date by the Trustees based on inforniation prowded by the Charity's managing agents. A fijll professional revaluation took place dlng 2022 and the gain taken to the Statement of Financial Activities. The managing agent undertook 8 bi-annual valuations (via desktop exercSsel as at 31 December 2024. The next full valuation 1$ due in 2027 to provide updat85 to fwhold values. Gains or losses arising from changes in fair value of investment property are inc19d in statemtt of Financlal Activities for the period in which they arise. 1.7 Flxod a$sot Investments Quoted investments held as fixed assets are revalued al fair value at Ihe balance sheet date and Lnrealisgd gains or losses arising from ch8ngfr$ in th¢ fair value of investments are included in Ststement ol Financial Acbvilies for the period in which they arise. Income from Investments 2025 2024 Rental income IrKome from listed investments 23,500 2,167 23.500 2.114 25,867 25,614 Expendlture on charitable activiti StJohn' St John's Church and St Lands Mary's Poor Funds 2026 Totsl St John's stJohn's Church and St Lands Mary's Pi>or Funds 2024 Total 2025 2025 2024 2024 Dlrect costs Activities urKlertaken directly 11,000 240 11,240 11,000 92 11.092 Share of 8UPPOrt and govemanGg C05ts1see note 4) Suppcwt 750 Governance 1,326 750 1,326 750 1,242 750 1,242 13,076 240 13.316 12,992 92 13,084 Analys1$ by fund Restricted funds 13,076 240 13,316 12,992 13.084
DEVIZES MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support costs allocated to actlvities 2026 2024 Staff costs Govemance costs 750 1.326 750 1,242 2.076 Analysed betweon: St John's Church Lands 2,076 1.992 2026 2024 Goveman¢e costs comprls•: Atxountancy 1,326 1.242 1.326 1,242 Net movement in funds 2025 2024 Thg net movement in funds is ¥tsled after chargingl{credib"ngi'. Fees payable to the ¢harWs Independent examiner.. - for the independent examinab'on of the charity's ffinancial statemen15 - for other financial 8ervice8 620 622 Tw$lèes None of the trustees lor any persons connected wilh tsm) received any remuneration or benefits from the charity during the y&ar. Employè•$ Number of employees The average monthly number of employees during the year was: 2025 Number 2024 Numbèr Adrninistration Employment costs 2026 2024 ges and salaries 750 7SO There were no employees whose annual remuneration was £60,000 or more.
DEVIZES MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Net galnsl{ItMè$} on Invostments 2026 2024 Revaluation of investments Gainlllosyl on sale of investments Revaluation of investment properbes (3,705) 1.704 9.000 13,7041 10.704 Taxatlon The charity is exempt from taxation on its activities because all ils income is applpd ft>r charitable purpos8s. 10 Investm•nt PrOrty 2025 Falr value Al 1 January 2025 and 31 December 2025 405,000 The historical Gost of the investment property is unknown. The investment propety is rèviewed at f*iT value al the balance sheet dale by the trustees based on valuation information in accordance th note 1.6. The Propoty was subject to a piofessional valuation by Cartèr Jona8 as a131 December 2024 and its Val increased to £405,000. 11 Flxgd asset investments Ltst•d Investments ost or valuallon At 1 January 2025 Valuation changes Disposals 77,545 {3.705 (147) At 31 December 2025 73,693 Carrylng amount At 310ecemb8r 2025 73,693 Al 31 December 2024 77,545
DEVIZES MUNICIPAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 12 Credltors: amounts falling due within one year 2025 2024 Other credf(cr8 4.301 9,014 13 Restrkted funds The income ftjnds ol ihe ch8rrty comprise the followiThJ UneXPend balanc£s of donaticms and grants held on trust for specific purpc>ses'. Movomgnt in funds Incoming Resources Investments Balanee at 31 r•$ourees expended 8alnslloss8s Decernber 2025 Balance at 1 January 2025 stJohn's Church Lands: General Investment propety fund st John's and St Mary's Poor Funds 222,287 405,000 25,575 {14,2761 13.5541 230.032 405,000 3,287 (240} 11501 2,989 630,574 25,667 114,5161 13.704) 636.021 Purpos• of restricted funds: st John's Church Lands: The fijnds are for Sl John's Chur¢h. Devizgs. st. John's and St. Mary's Poor FurKI'. Thts fund is for the needy people ofthe Parish of St ma8, Devizes. 14 Related party transaGtlons The Devizes Almshouse Charity, a charity wth a common history aTrJ trustees. provides administrative staff expenses at a cost of £75012024- £7501. 10-