Charlty reglstratlon number 204453
DEVIZES ALMSHOUSE CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

DEVIZES ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
statu•
The Charity was established ty a Schemg of the Charity Commissioners on 29 July 1904 and is a rggi5tered ¢h8rity
{No 2044531.
Trust¢gs
The trustees as 8131 Decembgr 2024 and on thè ¢Jate the Trustses. Report was approved were as follows..
Mr S McGregor-Johnson
Chainian ond Chair of the Standing Committe8.
member ofthe Finance & Staffing Committee
Joint V7ce Chairman, Chair of th¢ Commercial
Properties Committee. member of the Prop8rt4'es
Committee and member of the Standing Committee
Joint ChaKman and member ofthe Flnance &
Staffing Committee, member of the Commercial
PrO￿rtieS Committee and member of the Standing
Committee.
Chairman of the Financé & Staffing Committee.
member of Selection & Welfare Committee,
memljer of Comme￿Ial Properties Committee and
member ofthe Standing Commtttee
M8mber of the Finance & Staffing Committee,
member of Commgrcial Properties Committee and
member ofthe Standing Committee.
Chair of Community & Social Committee, memter
of Finance & Staffing Committee, member of the
Selection & Welfare. mémber of the Properties
Committee and member of the Standing C¢)mmittee
Member of the Selection & Welfare Commlttee and
Communty & Social Committee
Membèr oflhe Properties Committee. member of
the Commercial Properties Committee and mèmber
of th8 Slanding Committee
Chair of the Setection & Welfare Committee,
memb&r Properties Comrnittee and memb¢r of the
Standin9 Committee
Chair of the Propertie$ Committee and member of
the Standing Committee
Member of the Properties Commtttee, mgmber of
the Commercial Propertie$ Committee and member
of the StarKling Committee
Mr C LwAs
Mr JG Jone8
fr P Bennett
Mr DSW Elliott
Mr RAkerman
Miss FKTumber
Mr PP t)uckett
Mrs C Blyth
Mr D Burge$s
Mr P Kent
The Chairman and Commlttee members were deeted ty vote of the INstee5' Ffesent at theAnnual General Meeting
held on 9 December 2024.
oiricwrs
Mr P B8nn8tt
Mrs R Jeffries
Mrs L McGuffog
Mrs J Chesham
MYA Kettlety
Treasur&r
Cle
Assistsnt Clerk
Warden
Propertifjs and Maintenance Coordlnator
Charity numbor
204453

DEVIZES ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Prln¢lp•l addr888
Slad• House
Si James, G￿denS
Devize8
I￿ltshire
SN10 1EL
Audltors
Da￿d Owen & Co
17 The Market Place
Devizes
Wllshire
SN10 1BA
Bankgrs
Lloyds Bank plc
38 The Market Placo
Dewze8
Wltshirg
SN10 1JD
Sollcltors
Awdry Law
33 Sl Johns Street
Devizes
IAfjllshire
SN10 1BW
Support Oryanlsallons
The AlmshouseAs80ciation
Billingbear Lodge
Maidonhgad R¢)ad
lth)kingham
Berkshire
RG40 5RU
Insuranc•
Grout Insurance Brokers
2nd Floor
Woolwich House
43 Sl George House
Croydon
CRO 1LB

DEVIZES ALMSHOUSE CHARITY
CONTENTS
Pagè
Trust885' report
Slatément of Trustees. responsibilities
Independent auditorfs report
Slalement of ffinancial aclivities
Balanc8 sheèt
10
Statement ofcash flows
11
Notes to the finan¢ial slatements
12-22

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Irustges pr8sgnt t￿r report and 8ccounts for the year ended 31 December 2024.
The finanaal statements have be8n pr8pared in accordance wth th8 accounting poliaes set out in note 1 to the
financial stslements and comply with the chaTty's g)verning document, the Charibes Act 2011 and "Accounting
and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts
in aceordance wlh the Financial Reporbng Standard applicable in the UK and Reput4ic of Irefand IFRS
1021" leffective 1 January 20191.
Objectlves and actlvltles
The charity's main objective is to provide qualty accommodation for the eléerfy who reside in Devrles or the
8urroiJnding villages and are in some form of need. In addition lo provide Communal facilities 8fKI 8 general
environment that wll enhancg the ￿SIdentS. quality ¢f lrfe.
The aim of the tharity 1$ to provide for the benefft of the almspeople of the charity in any mannw the trustees
think fitting.
There has been no change in the objectives since ts18$t report.
Tr Irustses have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charty should undertak&.
Achlevements and pèrforniance
During the year we have continued the on-going task of updating and refurbishing the charity's properties as
detailed on quarterty maintenance and repa￿ schedules, which have been presented al trustees. quarterly
meets'ngs.
Health & Safety inspections, and electrical ￿rtTrI￿te work has been undertaken and all item5 identffied have
been addressed and acted upon.
Th8 Selection and Weware su￿¢0MmIttee continue to meet lo update Ilsls of applicants, to allocate properties
and address any matters raised by residents. Staff have contimed lo applicants in their home.
Dgy to day wdfare i$$ue$ have teen Icoked after by the Warden and the Clerk.
The Community and Sooal sU￿¢0MMittee have addressed all Items of Health & Safety, passlng on any
requirements to the Properties sub-Gommittge. The Swial Club Gonts'nugs ts a¢tivth'es in Slade Hall.
The Charity look residents to the North Wlls Golf Club for their Christma8 lurth This was supported by
volunteers and Trustees.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
FlnancSal rovlew
Income from charitable aclNities increased by £17,888 10 £459,408 for the year. The General Maintenance
t￿ntributiOnS increased by 40A in April 2024, however the HealiThJ Maintenance has remained at £26 per week
since January 2023.
IrKome from investments Increased by £24,940 to £221,386 lor the year. The rentsl income continues to benefit
from increased fenl followng a rent review5.
Th8 cost of charitable activiUe$ decreased by slightly by £3,479 to £476,866 fLY the year.
Expenditure this year ha8 fulty supported the key objectives of the charity, especially the ongoirvJ maintenance
and upgrading of tho almshoLf5es lo enhance the quality of a¢commodation. PartI￿lar regard has been given to
th8 social. ethi￿1, and environmental impact of any developments I reknrbishmtrnts for the benefft of residents
and the surroimding communty. Current I planned expenditure on the investment properb'es will enhance th&
income from this source. and the￿ore secure devdopment fvnding for the frjture benefit of accommodation an
fa¢ilitses for re$id8nts.
Fundlng
The principal fiJnding sources are ￿nI from commercid properties 0￿d by the chanty and contr*utions from
almspeople re%denl in the charity's almshou*s.
Resèrve Pollcy
The balance held as unrestrithd funds as at 31 Deeemb8r 2024 was £9268.S96, fijrther analysis in the
notes to the accounts.
Funds are allocated to specrfie reseNes to onable the charity lo comply wth Charity Commission guidelines.
In order to ftjlfil Ils objectives, the charlty must maintain it5 alm$house8 and adapt to changing eircumstances and
accordingty the designated reserves shown provide for cydical maintenance and redevelopment
refurbishments. Cyclical maintenance otturs on an annual basis, but redevelopment and r8fiJrtJishments
nom)ally only cttur when properties be¢ome vacant. The almshouses are central to the eharty's activity and
thelr balance Sheet value is maintained in a designated reserve.
Investment policy
The charity's major investments are in commeraal properties. FurKls ore also maintsined in bank &counts and
quoted investments whlch are readity realisable should the need arfse.
The charivs froehold Invgstrnenl property wa8 professionally revalued a5 at 31 December 2024 by Carter
Jonas, which has resulted in a revaluation gain of £113,566.
Rlsk factors
The trusteès have conducted their own r8vi6w of th& major risks to which the charity 15 exposed 5y8tems
have bèen established to mitigate those risks in accordance with be51 practrce.
Inlemal risks are minimised by the impl8menlation of procedure5 for authorisation of all transactions and projects
and lo ensure consi51ent quality of delivery for all operational aspects of the charrty. These procedwes are
periOd￿allY rwewed to ensure that they still meet the needs of the charity.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for the fulure
To continue to maintain. update and improve the charity's resdenlial and Commercial propertles and when
possible acquire larKI and propaty adloinlng the current main site for purpose of exteThaing almshouse
provisions.
To enhanc8 the Charit￿8 residenl$' quality of life and improve their environment.
Consideration is lo be given to the use of mo(Jem technology to incorwrate viable eco-friendly Systems within
our properties as and when the opportunitie5 arise. v￿en almshouses are refurbished, th8 latost desgn
principles 10 5UPPOrt the elderty and disabled wall be Considered and adopted where possible.
In considering the future strategy, consideration will be given to an increase in the Extraordinary Repair and
Development FurKI by a proportion of the surplus of each finanGial year.
Structure. govemance and management
Governlng Documents
The chanty was established by a Scheme of the Charity Commissioners on 29th July 1904 under charity
registration number 204453. On the 31 st December 1975 the Charity Commissioners sealed 8 Scheme that
amalgamated Devizes Alm$fv)use Charity, Lucas Homes and The Helms Memorial Cottage Homes. On 218t
June 1988 the Ch￿lty Commission sealed a further Scheme that amalgamated DevvLesAlmshouso Charity and
The Ward Homes.
The trustees served durlng the year and the dale the Trustees. ReFQrt was approved were:
Mr RAkerman
Mr P Bennett
Mr D Burgess
Mrs C Blyth
Mr P P Duckett
Mr D S WElliott
Mr J G Jones
Mr P Kent
Mr C Lucas
Mr S M¢Gregor.Johnson
Miss F K Tumb
Govornlng Body
The Ch8nty is administered and managed by a bc%ly of Trustee8 comprising Ihe Trustees for the tlme beSng of
Devizes Munirypal Charitie$ together with one nominated truste8 appointed by Devizes Town Council, currently
Miss F K Tumb8r. Th8 nominated trustee is appointed for a fixed four year period, and the nomination of Miss
Tumber was renewed by Devizes Town Counal in 2021 after a meeting al Devizes Town Council for a further
four year Feriod.
Oryanlsatlon Management
The Board of Trustees meets quarterly. and a delegated subcommittee structure is in place which meets as
rèquiied to deal with the day-to-day issues arbd plannintypolicy recommendations. The day-104day management
of the Charity is delegated by Trustees to the Clerk lo the Tfustees who wotks in close liaison with the Chairman
of Trustees and the Chaimen of various sub K•mmittee5.
New Iwslee$ attend an intrcéuctory event th* indudes a visrf( to the charrtys residenti81 properties. commercial
properties, communal faa"lib'es and offjce5. Current procedures, policies and responsibilities are explained and a
11 briefing paek provided. Further training if required is provided as necessary. The charity takes full advantsge
of training seminars organised by The Alm$hou5e Assgcialion.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Audltor
David Owen & Co were re-appointed as the ¢harity's auditors during the year and hove expre$$ed their
wllingness to continue in that capacity.
Disclosur• of Infonnatlon to auditor
Each of the Iruslees have confirmed that there is no infomialion of which they 8re aware which is relevant lo the
audit, bul of whith the auditor is unaware. They have further confirmed that they have taken appropriate steps to
iderrtrfy such rolev8nt Informth"on and lo establish that the auditor is aware of such infom)ation.
Onbe
the Board of Trugtees
Mrs
or
Chairm
th
Dated.. 9 June 2
CG
nson
Tru

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are Te5pon$ibk for preparing thg Truslo•s' Report and the financial stat*nents in acrordance with
applicable law and United Kingdom Accounting Standards IUnf(ed Kingdom Generally Accepted Accountir
Practice).
The law applicable to charities in England and Wales requires Ihe trustees to prepar8 financial statements for each
ffin2nryal year which give a tru8 and fair view of the state of affairs of the charity 8nd of the incoming resources and
appl¢ation of resources of th8 charty for that year.
In preparing these financial statements, the trustees are required to..
- S8*t sLItab￿ accounliNJ poliaes and then apply them consistentty,.
- observe the methods and principles in the Charibes SORP.,
- make judgements and estimates that are reasonable arKI prudent.,
$tste whether applicable accounliTr3 Standards have been lollowed, subbed to any material depa￿re8 disdosed
and explained in the finan¢i* $lalements', and
prepare the financial statements on the 90ing concern basis unles811 Is inappropriate to P￿sume Ihat the charity
will continue in operation.
The trustees are re8ponsilJe for keeplng sufficler)t accounting re¢ords that disclose with reasonable aCLuracy at
any lime the financial position of the ¢harity and enable them lo ensure that the financial statements comply
the Chanties Aet 2011. the Charity (Accounts and Reports) Regulab'ons 2008 and the provisions of the trust deed.
They are also responsitrAe for safeguarding the assets of the chority and hence for taking reasonable steps for the
prevention and detection of fraud and othei irregularllle8.
The trustees afe responsible for the maintena￿8 and inlegnty of the charity and finandal Infomalon included on
the challty's website. Legislation in tl)& United Kingdom governlng the preparation and di55emination of fina￿al
statements may differ from legi$lab'on in otherjurisdictions.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DEVIZES ALMSHOUSE CHARITY
Oplnlon
We have audited the finan￿81 stalements of Devrles Almshouse Charty {the 'charily') for U)e year ended 31
December 2024 which comprise tho statement of financial actiwties, the balance sheet, the sl*emont of ￿$h flows
and notes lo the financ4al sl8lemenls, inclLvJing signifieanl accounting policies. The fnancial reporting framework
th81 has bgen appliod in their preparation is applicable law and United Kingdom kcounting Standards, including
Financi81 Reporting Standard 102 Th& Financi81 R&pothng Sland8rd 8ppIiG8blg in the UK and Republ￿ of Ire18nd
{United Kingdom Generalty Accepted Accounting Practice),
In our opinion, th8 fin#r￿lat sl•lemenls-.
give a true and fair view of the ￿ale of the charity'5 affairs a5 at 31 December 2024 and of its incoming
resources and application of resources. for the year then ended..
have been property prepared in accordance wlh United Kingdom Generalty Accepted kncountsng PraGtKe.'
have b8en prepared in accordance the requirements of the CharitOe$ Act 2011.
Basls for oplnion
We conducted our audit in ac¢¢rdance wlh International Standards on Auditing IUKI (ISAS (UK)) and applicable
law, Our responsibilities under those stsndards are further described in the Auditors Trsponsibililies for the 8udit
thg financ￿1 st81èments section of our r8POrt. We are independenl of the chanty in aeeordance tho ethical
requirements tw are relevant lo our audit of the finana81 slalem&nls in the UK, including the FRC'S Ethical
Standard, and we have fvlfilled our other ethical responsibilrties in accord8nce these requirements. ￿ believe
that the audit evid8r￿¢ y￿ have obtained is sufficient and appropri*e lo promde a basis for oui oFinion.
Con¢lu8ions r•lating to going concorn
In auditing thè finan￿al slalements, we have concluded that the Trustees, use of tho going Cc￿ceM basis of
accountirwJ in the preparation of the financial statements is appropriate.
Based on the work we have perf￿@d, we have not identrfied any material uncertelnties relating to events or
conditions that, indiwdually or collectively, may cast signffieanl doubl on the charity's ability to continue as a going
oncem for a poriod of al least tr￿1ve months from wh8n the financial 8tstem&nts are aulhorised for Issue.
Our reswnsibilities and the respon$ilililles of trustees wth respgct to going concem are des¢xbe¢J in the
relevant sections of this report.
Other Infom)atlon
The other Information comprises the infomiation Induded in the annual report other than the finarrial statements
and our auditor's report thereon. The tnjstees ale responsible for the other infomialion contained within the annual
report. Our opinion on the financial statements does r￿t cover the other information and we do nol exprfr8s any form
of assurance conclusion therec￿. Our responsibilty is lo read the other inforTnalion and, in doirwj so, consider
whether the other infomiation is malerrally inconsistent with the financial statements or our kno5￿? obtained in
the cours& of the audit, or otherwise appears to be materially misslaled. If we identify such material inconsislerKies
or apparenl material misststements, we are required to determine whether this gives rise to a material misstatement
in the financial statements themselve5. If. based on the work we have pertomed, we conclude that there is a
material misstatement of this other infomiation. we are required to report that fact.
We have nothing lo report in this Tegard.
Matters on vthich wg are roqulred to report by èxc•ptlon
have nothing lo report in respe¢l of the followng matters in relakn.on to which the Charlties {Accounts and
Reports) Regulations 2008 require us lo report lo you rf, in our opinion..
the infc¥mabon given in thè finanual statements is inconsistent in ariy material respect wth the Trustees,
report., or
sufficient accounting recordg havo not been kept; or
the finar￿la1 slalements are not in agreement wrfth the accounting records,, or
we have not received all the information and explanations we require for our audit.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DEVIZES ALMSHOUSE CHARITY
Re8pon$lblllths of trustee5
explained more fully in the Statement of Tru5tees' Responsibilities, the trustees are responsible for the
preparation of the finanLial stslements and for being satisfied that they give a true and fair view, and for Suth
intemal ￿ntrol as the tru51ees determine is necessary lo enable the preparation of financlal statements thal are free
from materi81 misststement, whether due to fraud or error.
In preparing the financial Slalemènts, the INstees are responsible for assessing the charity's ability to continue as
going concern, disclosing. as applicable, matters related to going concem and using the going concern basis of
accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.
AudltoVs responslbllttles for the audlt of the flnanclal Ststsments
We have been appointet1 as audrtor under section 144 of the Charities Act 2011 and repc*l in a¢¢ordance wlth the
Act and relevant regula￿n8 made or having effect thereunder.
Our oty'eclives are to obtain reasonable assurance about whether the finanoal siatements as a whob are free from
material misslalemenl, %thether due lo fraud or error. and to ISSU8 an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS IUKI will a￿ayS detect a material misstatement when il e￿st$. Misslalemenls can arise from fr&d or
error and are considered material rf, individually or in the aggregate, they could reasonably bo experted io inffluen
the economic declsions of users taken on the basis of these financial statsmenls.
The extent to which our procedures are capable of detecting I￿egUlarities, Induding fraud. is detailed bdow.
We obtsined an understsnding of laws arKI règulation8 that affect the charty. focusing on those had a
direct effect on the financial statements or that had a lundamenlal effod on its operations. Key laws and
regulations that we identified included the CharitiesAcl, occupational health and employrhenl legislation
We enquSred of the trustees, reviewtrj any ¢orre8pondence wlh Charity Commission 8rKI reviewed trustee8
meeting minutes for evid8nce of non-compliance wlh relevant laws and regulations. We also reviewed
txjnlrols the trustees have in place lo ensure compliance.
gained an understsftding of the eonlrols that the trustees have in plaLY to prevent and detect fraud.
enqUI￿d of the trustees about any inciden¢e8 of fraud that had taken place during the aecrmjnting perlod.
The risk of frau¢J and non-compliance with laws and rogulations and fraud was discussed within tho audit
team and lesls were planned and performeil lo address these risks. We identified the potential for fraud in
the following areas." misapwowiatton of cash and other a55els. and misststement of the investment
propety valuations.
We reviewed financial statements disck)sure$ and tested to supportiig dc¢umentalion to 8$se$8
compliance with relevant laws and reg￿atIOnS discussed above
We enquired of the trustees about actual and Fotsnlial litigation and claims
We perfom)ed analytical procedures lo id8nlify any unusual or unexpected relationships Ihgt might indieate
risks of material misststement due to fraud.
In addressing the risk of fraud due lo management override of intemal controls we tested the
appropriateness of joumal enlrios and assessed whether the judg8ments rnade in making aceounling
estimates were indicatsvo of a pot8ntial bias.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https-li
vA￿.trC.or9.￿klaudItoT5reSpDn5lb1lItie$. This description forms part of our auditorfs report.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DEVIZES ALMSHOUSE CHARITY
Other matters
Your attention is drawn lo the fact that the ch8rty has prepared ffinanaal statements in accordance wrth "Accounb'ng
and Reporting by Charitio$.' Stslemenl of Recommended Practi¢e applicable lo charibes F*eparing their account$ in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" (as
amended) in preference to Accounting and Reporting by Charilie8.' Statement of Recommended Practu issued
on 1 April 2005 which 15 referredtg in the extant regulations but has now been withdrawn.
This has been done in order for the fin8nial statements lo proV￿e a true and fair view in accordance vlth wrrenl
GenerallyAccepted A¢counting Practic6.
This r8POrt is made solely to the charity's trusteos, as a l)ody. in accordance wlth part 4 of the Charities {Accounts
and Repcrts) Regulations 2008. Our audit work has ￿en undertaken so that we might stste lo the charity's trustees
those matters we are required lo Stsle lo them in an auditorfs report 8nd for no other purpo$8. To the fiJllest extent
pèrmitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charit￿s
Iwstses as a boty, for our audlt work, for this report, or for the OFinions we have formed.
Davld Owèn & Co
13 Z•ZS
Chartorgd Accountants
Statutory Audltor
17 Th& Market Place
Devizes
hshlre
SN10 1BA
Da¥id Owen & Co is elig￿le for appointment as auditor of the charity by vlrtue of its eligibility for appolntment as
auditor of a ¢omp8ny under se¢tion 1212 of the Companies Act 2006.

DEVIZES ALMSHOUSE CHARITY
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
UnrestrSctèd Unrestrlcted
funds
funds
2024
2023
Volunlary income
Charitable actiwties
Investments
509
441,520
1￿.446
459,4Q8
221,386
Total Income
680,794
638.475
Investment management
80,094
54,130
Charitable activities
476.886
480.345
Total resources expended
536,980
$34.475
143,834
104,000
Nel gainsl{lossos} on investments
13
122.325
4,483
N•t in¢oming resources
266,159
108,483
Other recognlsod gains and loss•8
Profil on disposal of freehold Investment propety
14
9,959
Not movement In funds
266,159
118,442
Fund balances at 1 January 2024
9,002.437
8,883.995
Fund balances at 31 December 2024
9.268,596 9,002.437
The ststement of financkg18elivrties ir￿lUdeS all gains and losses recognised in the year.
Thg statemont of fin￿Gla1 actlvkles indudes all gains and losses recognised in the year. All income and expenditur8
derive from continuing activities.

DEVIZES ALMSHOUSE CHARITY
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
No1•5
Fixed as8•ts
Tangble assets
Investment properties
Investments
16
16
17
4.277.238
3.117,000
252,965
4,313,351
3,108.434
238.632
7,647,203
7.680,417
Current assets
Debtors
Cash al bank and in hand
18
56.787
1,619,121
41,513
1,354,158
1.675,908
Credltorn: amounts falling duo wlthln
oneyear
1,395,669
19
154,5151
{53,649)
Net current assets
1,621,393
1.342,020
Total a58ots1è38 currènt Ilabilities
9.268,596
9.002,437
Incom• funds
21
Design8ted funds
General funds
8,868,596
400,000
8,602,437
400.000
9,268.596
9,002.437
9,268,596
9,002.437
The financial ststements were approved by the toard of trustees and aulhorised for issue on 9 June 2025 and are
signed on ils behalf by..
Mr P Bennett
Thistee: Chalr of thfr Flnance Commlttee
10-

DEVIZES ALMSHOUSE CHARITY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Cash flo￿ from operatlng actlvltl•s
Cash generated from operations
23
33,852
27,330
Invesllng actfvitl•s
Purchase of langible fixed assets
Purchase of investsnent property
Proce8ds on disposal of investment
propety
Purchase of other investments
Investment Incc¥ne received
189,6991
(31,914}
{13.434)
105,000
(5,5741
221,386
409.959
15,181)
196.446
Ilet c￿h genornted from Investlng
actlvltl•s
231,113
555.876
Net cash used in flnanclng actlvlllos
Net Incr￿Se In ¢•$h and cash equivalents
264,965
583.206
Cash and cash equivalents at beginning of year
1,354,156
770.950
Cash and cash equlvalents Jt end of yo8r
1,619,121
1.354.156

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng poll¢l8s
Charity Inforniatlon
DevizesAfmshouse Charity is a regi$lored charity, number 204453.
1.1 AccountSftg convgntion
The financial statements have been prepared in accordance wth the charity's governing document. the
Charities Act 2011, FRS 102 "Tha Finan￿al Reporting Stsndard applicabl8 in the UK and Republic of
Ireland. {"FRS 102.1 and the Charities SORP Accounting Reporting by Charitie$.' Statement ol
Recommended Practice applicable lo charities pr8paring their accounts in accordance with the Finanoal
Reporting Slandaid appli¢able in the UK and Republic of Ireland (FRS 1021" (effective 1 January 20191. The
harity is a Publi¢ Benefit Entity a$ defined by FRS 102.
The financial statements have departed from the Charitios (Accoun18 and Repjrtsl Regulations 2008 only to
the extent required to provlde a true and fair view. This departure has involved following the Ststemenl of
Recommendéd Practice for charities applying FRS 102 rathei than the vèrsion of the S&￿ement of
Recommended Practice Nthieh is referred lo in the Regulation8 tr*rt which has since teen withdrawn.
The finanaal slalemenls are prepar8d in sterting, which is the functional c￿rrencY of the tharity. Monetary
amounts in these finanaal stalemerns are rounded lo the noarest £.
The finanaal stslemenls have been prepared under the histori￿1 c05t convention, modified to include the
revaluation of investment properties and certain financial instruments al fair value. The principal accounting
policies adopted are sel out below.
1.2 Golng eoncem
At the time of approving the financlal slalemenls, the Iwslees have a reasonable expectation that the charity
has adequate resoLrrces to continue in operational existenc£ for the foreseeable future. Thus the trustees
¢ontinue to adopt the going concem basis of accounting in preparing the financial ststements.
1.3 Charltablè funds
UnreStr￿ted funds
There are no $peafic restricbons as to th8 use Of these funds. The trustees allocate Olrt of general funds
appropriale sums for extraordinary repairs development and iand a¢quisition to refiect p0S￿ble expeNlilure Sn
the foreseeabl8 future.
Designated funds
These are unrestricted fvnds earmarked by the trustees for particular purposes.
1.4 Incomlng resources
In￿me is recognised when the charlty is legally enliled to il after any perfoTman¢e condrtions have been me(
the amounts can be measured reliably. and it is probable that income will be received.
Incoming resources from both almshouses and investment propety rentals and investments are i￿l￿ded
when Tec¢ivable.
1.5 Resourc•s oxpendod
All expendlture is accounted for on an accruals bass. Resources expended In¢l￿Je attfibutsblfr VAT vthich
cannot be recovgred. Goveinance ￿sts are thos8 incurred in connethon Mlh administration of the ¢haTity
and eomplianc8 wlh constitutional and 8tatutory requirements.
12-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢counting pollcles
{Continuèd)
1.6 Tanglblo Ilxed ossots
Assets costing £500 or more are capit81ised as tangible fixed assets and are (2rried at cost, nel of
depreciation and any provision for impaim)enl.
TangiL4e fixed assets are initsally measured al cost and subsequently measured at cost or valuation. net of
depreciation and any impairment losses. The almshouse properbes were valued in 1991, bmth subsequent
additions being staled at cost . The charity 18 taking advantage of the FRS102 transitional ex8mFAI￿ to valu8
the property 01 deemed w5t wthoul adopting a policy of revaluation.
Depredation is provided at rale$ ¢alculated to ￿lle off the cost less estimated residual value of eath asset
over its expected useful lif8, as follows..
Almhouse properties..
General fabric of the bLMlding
Kitchon and bathroom fixhffes and fitting
Central hèaliw systems
Over 50 Years
Over 15 years
Over 15 years
Almshous8 oquipmenl
10% to 25% straight line or reducing balance basis
Office equipnent
25% to 33% stralght Ilne or reduclng balance basis
Freehold laThl and assets in the course of con$lructlon are not depreclated.
Th8 gain or loss arlsing on the disposal of an a$set 1$ detemined as the difference betr￿en the sale
proceeds and the carying value of th8 assgt and is recognised in net incomellexpenditurel for the year.
1.7 Inve8tm•nt propertl•s
Inveslmenl property, which is property held lo eam rentals andlor for capital appreciation, 1$ m8asur8d using
the fair value m(*1el and ststed al ils fair value as the reporting end dale,
Investment properties are revalued at fair value al balance sheet date by the Trustees based on irrformalion
provided by the Charitys managing agents. A full professional revaluation took place during Deeember 2022
and the gain taken to the Statement of Finanrjal Actiwties. The managing agent undertook a biwanrtual
valuations {via a desktop exercise) as at 31 December 2024, to provide updat8s to fr88hold values.
Gains or losses arising from change5 in the fair value of investment property are induded in St*ment of
Financial Aclivitw for the peri¢)d in which they arise.
1.8 Flxed asset In¥8slJn8nts
Quoted investments held 88 fixed assets are revalued al fair value at the balance sheot dale and ￿realISed
gains or losses arisin9 from changes in the fair valug of investments are included in Statement of Finanaal
Activit￿$ for the wiod in which they arise.
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand. deposits held at call banks, other short-lemi liquid
investments wth original malurities of three months or less. and bank overdr8fts. Bank overdrafts would te
sh)wn within borrowings in current liabilities.
1.10 Retlr8ment beneflts
Thè charity operates a define(I contributions pension scheme. Contributlons are charged in the accounts as
they become payable in 8ccordance wth the rules of the scheme.
13-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2024
Acrountlng policlos
(Contlnuedl
1.11 Taxatlon
The chanty is generally exempl from Income Tax and Capital Gains Tax, bul nol from VAT. Irrecoverable VAT
is induded in the cost of those items to %thich rt relates.
Crftical accountlng estknats¥ and Judgements
In the application of the charty's acc￿nting policies, the trustees are required to make judg￿nents. estimates
and assumptions about the carrying amount of assets and liabilits'es that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other facttxs that
are considered to be relwanl. AdLtal results may differ from these e81imale&
The estbmales and urKlerlylng aSsumptior￿ are reviewed on an ongoing basis. Revisions to accounting
estimates ara recognised in the poriod in which the estimat8 is revi$ed where the revision affects ￿[Y that
period, or in th8 period of the revision and luture periods where the revision affects both currènt and luture
periods.
crftlc•l Judgements
The following judgements (apart from those involving estimates) have had the most Significant effect on
amounts recogni8ed in the flnancial statements.
Revaluatlon of investment propertS95
The charity carries its investment propety al fair value, with changes in fair value being reeogTrsed in the
stslement of financial athvilies. The investment properties are shown at their open markel value, this being a
Irustees, assessment of the current worth of these properties based independent professional valuatDns and
reviewed by the tnJste8S.
Incom• from donallons and Jogacies
Unrostrlcted Unrestrlct¢d
funds
fvnd5
2024
2023
Donatlons and gifts
509
Charltable actlvitles
Unre8tdcled
funds
2024
T¢)tal
2023
maintenan￿ charge
Other income
Feed in Tariff
446,615
7.123
5,670
428,959
6,947
5,614
459,408
441,520
14-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Investmènts
Unrostrlcted
fvnds
2024
Total
2023
Rental income
Income from listed invesknents
lrnterest receNable
174.026
10,214
37,146
177.079
9,534
9.833
221,366
196,446
Cost of ral¥ing funds
Unrnstrict•d
funds
2024
Tolal
2023
Investment mana ernenl
Rentsl management fee
Repairs and insurance
Rates
Legal and professional fees
15,7
29,547
19,496
25,510
1,318
7,808
14,811
60.094
54.130
15-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Charftabl6 activitles
2024
2023
AIwr8hou$•s
Staff costs
Deprecialicffl and impairment
Travelling expenses
Repairs and maintenance
er
Eloctricity and gas
General insurance and licencos
Communication care and telephone
Annual outlng, Christmas gifts and social expenses
71.990
123,830
70,997
117,961
84.072
21,567
79.003
13,810
5,894
8,386
82.470
18.944
97,078
12,365
8.134
3,772
406.552
411.798
Support o)sts {$ee note 81
Govemance costs (see note 81
62.072
8,242
61,140
7,407
476.866
480,345
Support costs allocated to activitles
Total
2024
Total
2023
Staff costs
Depreciation
Telephone
Office expenses
Bank charges
Equipment hire
Sundry expenses
Governance
55.747
1,982
1.831
1,691
51.803
2,537
4.295
1,997
277
135
96
7.407
137
8,242
70,314
68.547
2024
2023
Govornance costs ¢omprfge:
Audri fees
Trustee indemnty insuran¢9
Sundry experlses
6,550
756
6,060
756
591
8242
7.407
16-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Nrt movem•nt In funds
2024
2023
The net movement in fjJnds is stated after chargingl(crediting}:
Fe88 payable for the audit of the charity's financial statements
DapTeuation of owned tangl￿e fixed assets
6,550
125,812
6.060
120.498
10 Trustees
None of the trustees lor any persons wnne¢ted with them) received any remuneration during the ye8r. and
none of them received any reimbursement of expenses.
11 Employe9$
Number of employees
The average monthly number of full and part limfj staff thring Ihe year wa$ 5 12023 -51 the average
numkr of full time equivalent employees by fijnction was..
2024
Numbèr
2023
Numbor
Almshouses
Administrats'on
Employment costs
2024
2023
Wages and selaries
Social $8curity costs
other pension cos15
111,282
8,958
7,497
108,072
8,477
6,251
127,737
122,800
There were no 8mploy88s whose annual remuneration was £80.000 or more.
12 Taxation
Devizes Amshouse Charity a5 a registered charity and is therefore exempl from liability to taxation on ils
income and ¢apitsl gains.
17-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Not gainsl(10550s} on 1n¥￿trn8nts
Unrestrlcted
funds
Totsl
2024
2023
R8valualion gain$ on investments
Revaluation gain5 on imiestsnent properties
8.759
113,586
4,483
122.325
4.483
14 Oth•r galns or losses
Unrestricted
funds
2023
Pfofit on disposal of freehold investment property
9.959
16 Tanglble flxed as$ots
AlmshoLtses Almshouse
and land
e4ulpment
Offic8
oqulpment
Total
Cost or valuatlon
At 1 January 2024
Additions
5.169.895
89,699
51,426
14,517
5,235,838
89.699
At 31 December 2024
5.259,594
51.426
14,517
5,325.537
DeprKlatlon and Impalnnent
At 1 January 2024
Depreciation charged In the year
886.135
116,727
28.582
7,103
7,770
1,982
922,487
125.812
At 31 December 2024
1.002.862
35.685
9,752
1,048,299
Carrylng amount
Al 31 Decembèr 2024
4.256,732
15,741
4,765
4,277,238
At 31 December 2023
4,283,760
22.844
6.747
4.313,351
The transitional provisions of FRS102 are being followed in respect of the revaluation of the frethold land and
building$ and the valuation has not been updated. The cost or valuation of the Almshouses and Land reflects
the professional valuation of the propertEs as al 2n¢J January 1991 amountsng to £926,300 together with
subsequent additions at cost of £4,333.294 since Ihal date.
18-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 I￿eStment prope
2024
Falr v•lu•
At 1 January 2024
Sale Pro￿d$.. 15 The Market Place, Devizes
Net gains through fair value adjustments
3,108,434
1105,0001
113.566
At 310ecember 2024
3,117,000
The investment propert18s are revi￿ed at fair value al Ihe balance sheet date by the trustees based on
valuation information in accordance wf(h note 1.7. The majority of properties were subj-ect to a professional
valuation by Carter Jonas dated 31 December 2024 and when their value amounted lo £3.O78,Oc￿.
If investment properties were 81aled on an hi$lori¢al cost basls rather than a fair value basis, ￿ amounts
would have been induded as follows..
2024
2023
Cost
1,350,897
1,382,587
Full details of the historical cost of tho investment properties are unknown. Full details of costs are only
available since 1996.
17 Flxed asset Invgslments
Llsted
Investments
Cost Or valuatlon
Al 1 January 2024
Additions
Valuation ¢h8nges
238,632
5.574
8,759
At 31 De¢ember 2024
252,965
Carrylng amount
At 3108cember 2024
252,965
At 31 December 2023
238,832
19-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18 Debtord
Amounts falling due wlthln one year:
2024
2023
Trade debtors
Other debtors
Prepayments and accrued income
32.038
18,156
6,593
30,662
6,917
56,787
41,513
19 Creditors: amounts falllng due wfthln ¢)ne year
2024
2023
Trade creditors
Other creditor$
Accruals and deferred income
23,686
1,853
28,976
25,019
6C6
28,024
54.515
53,649
20 Rellrement benefit schemes
Defined contributlon schomes
2024
2023
Charge to profil c*10ss in respect of deflned contribution s￿￿me$
7,497
8.251
The charity operates a défined Contrlbulron ￿nSIOn scheme for all qualifying emF4oyees. The assets of the
s¢heme are held separalety from those of the Charity in an independently administered fund.

DEVIZES ALMSHOUSE CHARITY
NOTES TO TrIE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 unrestrict￿ funds
Tre unrestricted funds of the charity also include designated fvnds whSch have been sel asde by the trustees
for SF)eafic purposes.
Movement In funds
Balance at 1
Incoming Resources
Transfern Investments Balance at 31
January rtsourceg expended
galnsn08808
December
2024
2024
De$lgnatsd funds
Extraordinary repair
development
fund
Cydical
maintenance fund
Fixed assets furKI".
Almshouse assets
Fixed assets frjnd..
Investment
properties
1,080,652
286,707
1,367,359
100.000
7,000
107,000
4,313,351
(125.812)
89,698
4.277,237
3.108,434
1105,000)
113,586
3.117.000
8,602,437
1125,8121
278.405
113,566
8,868,596
General fund$
400.000
680,794
{411,1481
1278,405)
8.759
400,000
9,002,437
680,794
{536,9601
235,891
9,268,596
In order to fijlfil its objedves, the Charty must maintain its almshouses and adapt to changing circumstance8
and accor¢thngly the designated reserves shown provide for cyclical mainlenanee and redevelopmentsl
refurbishments. Cydical maintenance occurs on an annual basis. but redevelopment and refurbishments
n￿MallY only occur when properties become vacant.
Flxed assets fund.. The almshousgs ar8 central to the charitls actwty arbj their balance sheet value is
maintained in a d8signated reserve.
Fixed as8els fund: Investment properbe$ a￿ long term Investments and not easily realise¢J.
General funds. This represents approximal8ly 1 years eynditure held in re5we.
Rolated party trans•ctions
The charity provides administrative s8rviees at a cost of £75012023- £7501 lo Devizes MUnI￿paI Charities, a
eharity with a common history and Iru5tees.
21-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
23 Cash generatod from opevatlon8
2024
2023
Surplus for the year
266.159
108.483
Adjustments for.
Investment income recognised in statement of financi81 activilles
Fair value gains and losses on investment properties
Fair value gains and losses on investments
Depreciation and impairnienl of tangible flxed assets
{221.38ei
1113,5661
(8,7591
125.812
{196,4461
(4,4831
120.498
Klovemenls in wryking capital..
(Increaselldecrease in debtors
Increaselldecreasel in creditors
(15,2741
2,171
{2,893)
Cash generated from opr•tlons
33,852
27,330