Charlty reglstration num￿1 204453 {Engiand and Wales)
DEVIZES ALMSHOUSE CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

DEVIZES ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Status
The Charlty was established by a Scheme of the Charity Commissioners on 29 July 1904 and is a r8gistor8d charrty
(No 204453}.
Trustses
The trustees as al 31 December 2025 arKI on the dale the Trustees, Re￿1 was approvtd were as follows..
Mr S McGregor-John8on
Chaimian and Chair of the Standing Committee,
member ofthe Finance & Staffing Committ8e
Jolnt Mce Chaimian, Chair of the Commercial
Properties Committee and Joint Vi¢e Chairman of
the Stsnding Committ88
Joint Vice Chairnian and member ofthe Finance &
Staffing Committee, member ofthe Comm8rcial
Properties Commlttee and member of the Standing
Committee.
Chaimian of the Finance & Staffiro Committee,
member of Selection & Welfare Committee,
member of CornmerGial Properties CommSttee and
Joint Wice Chaimian of the Stsnding Committee
Member of the Fin8nce & Staffing Committee,
member of Commercial Properties Committee and
member of the Standing Commitlee.
Chair of Communty & Social Coffimittee, member
of Finance & Staffing Committee, member of the
Selection & Welfarè, member of the Properties
Committee and member ofthe Standing Committee
Member oflhe Selection & ￿￿lfare Committee and
Communty & So(aal Committee
Member ofthe Properties Committee, member of
the Commercial Properties Commlttee and member
ofthe Standing Committee
Chair of the Selection & Vwelfwe Committee and
member of the Standing Committee
Chair of the Properties Committee and member of
the Standing Committee
Member of the Properties Committee and member
of the Standiry Committee
Mr C Lucas
Mr JG Jones
Mr P Bennett
Mr DSW Elliott
Mr R Akeman
Miss FKTumber
Mr PP Duckatt
Mrs C Blyth
Mr D Burgess
Mr P Kent
The Chairman and Committee members were elected by vote of the Iruslees, present at the Annual General Meeting
held on 8 Dècember 2025.
Offlce
Mr P Benngtt
Mrs R Jeffries
Mrs L McGuffog
Mrs J Chesham
MrA Kettely
Treasurer
Clgrk
As8iStant Clerk
Resident's Cothinator
PTopertie5 and frAaintenance Coordinator
Charlty number
21J4453

DEVIZES ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Prfnclpal addrnss
Slade House
St James, Gardens
Devizes
Imltshire
SN10 1EL
Audltors
David Owen & Co
17 The Market Plac&
Devizes
Imttshi
SN101HT
Bankars
Lbyd$ Bank plc
38 The Market Place
DevSzes
Ilshire
SN10 1JD
Solkitors
Awdry Law
33 St Johns Street
Devizes
tt5hire
SN10 1BW
Support Organlgatlon8
The AlmshouseAssocialion
Billingboar Lodge
Maidenhead Road
Wokingham
Berkshire
RG40 5RU
Insurance
Grout Insuranee Brokers
2nd Floor
WOO￿lCh Hous8
43 Sl George House
Croydon
CRO IL8

DEVIZES ALMSHOUSE CHARITY
CONTENTS
Pago
Trustees. r8PC
Statement of Tru8tees' r8sponsibilib"e$
Indep￿￿ent audltorfs rep)rt
Sialement of financlal 8th"vrtfies
Balance
10
Statement of cash flows
11
Notes to the finanrial $lalemenl8
12-21

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees prg$8nt their report and accounts for the year ended 31 December 2025.
The ftnandal statements have been prepared in accordance wth the accounting policies set out in note 110 Ih
financial stslemenls and comply wlh the charttls governing document, the Charit¢es Act 2011 arKI "Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charts'es preparing their a¢￿unt5
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
1021" leffective 1 January 20191-
ObleGtlv¢$ and activltlo9
The Charity's rn8in objective is to provide quality accommodation for the elderty who reside in Devizes or th&
surrounding villages ond are in some fom of need, In addition to provide communal faciltb.es and a general
gnvironment that will enhance the residents, quality of Irfe.
The alm of the ch8thy18 to provide for the benèfrt of the almspeople of the tharity in any manrw Ihe trustees
think fitting.
There has bgen no change in the objectwes since the last report.
The trustees have paid due regard to guidance issued by the Ch8rfty Commission in deciding what activities Ihe
charity should undertake.
Achlgvoments and perforniancg
During the year we hav¢ ￿ntInued the on-going tssk of updating and refvrbishing the tharOVs properties as
detailed on quarterly maintenance and repair schedules, which have been presented al trustees, quarterly
meetings.
Health & Safety inspeclions, and electri￿1 certificate work has been undertaken and all items idenlified have
been addressed and acted upon.
The Selection and Welfare $ub<ommittee continu8 to meat to update lists of applicants. to allocate properties
and address any matters raised by residents. Stsff have continued to visit appltsnls In thelr home.
Day to day welfare issues have been looked after by the Warden and the Clerk.
The Community and Social sU￿0mmittee have addressed all items of Health & Safety, passing on any
requlremenls lo the Properties sub<ommittee. The Social Club continues rts adivities in Slade Hall.
The Charity took residents to the North Imlls Gow Club for their Christma$ lunch This was supported by
vdunleers and Trustees.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Fln•nclal roViOW
Income from charitsble actiwties increased by £12.139 to £471,547 for the year. The General ma1nt6na￿e
contributions increased by beh¥een 0% - 4% in April 2025, h¢)wevef the Healing MaintenarKg has remained at
£26 per week since January 2023.
Income from investments increased by £29,290 to £250,676 for the year. The rentsl in￿rne continues lo benefft
from increased rent following a rent reviews.
The c£)$l of charitable activities increased by £63,865 to £540,731 for the year. Th18 was mairly to increased
repair8 and maintenance to the Almshouses.
Expenditufe thi5 year h85 fully 5UPPOrted the key objectives of the charity. especially the ongoing maintenance
and upgrading of the almshouses to enhanee the qualty of accommodation. Patticular regard has been given lo
the social, ethical, and environmental impact of any developments I refurbishments for the benefft of residents
and the surroundin9 community- Current I planned expenditure on the investment properties vJill enhance the
income from thls Source, and therefore Secure development fvnding for the fvture benefit of accommodats'on and
faulibes for residents.
Fundlng
The prin¢ipal funding $ourts$ are rent from commereial propertles owned by the charty and eontrlbuth)ns from
almspeople resident in the charit￿5 almshouses.
Reservo Polky
The balance held Is unreslrieted funds as at 31 December 2025 was £9,403.721. vllh futher analysis in the
note$ to the ae¢ounl$.
Funds are allocated to specrftc reserves to enable the charity to comply with Charty Commission guidelines.
In order to fulfil ils objectives, the charity musl maintain ils almshouses and adapt to changing urcum$tsn￿$ and
accordingty the de&gnaled reserves shown provide for cydical mainlenonce and redevelopmentsl
refurblshmenls. Cydical maintenance occurs on an annual basis, bul redevelopment and refvrbi$hmenls
nomially only occur when properti8s become vacant. Th8 almshouses are central lo the tharty's xtivity and
thgir balance sheet value is maintained in a designated resgrv8.
Invostmgnt pollcy
The charity's major investments are in ￿MmerCIal properties. Funds are a150 maintsined in bank ￿unt$ and
quoted inv8slm8nts which are readily r8alisable should the need arise.
The Charity's Ireehold Investment property was professionally revalued a8 al 31 December 2024 .
Rl$k factors
The trustees have conducted their own review of the major risks lo vthich the charity is exposed and systems
have bèen estsblished lo mlllgate th08e risks In accordance wth best practice.
Intemal ri$ks are mlnimlsed by the Implemenlalion of procedures for authorfs81ion of all transadons and projects
and lo ensure ¢￿sistenI quality of delivery for all operational aspecls of the charity. Thes8 procedures ar
periodically reviewed to ensure that they skn.ll meet the needs of the chanty.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Plans for the luturo
To continue lo maintsin, update and improve the charity's regdenlial and commerc￿1 properties and when
possiL)le acquire land and woperty adjoining the current main Sile for the purpose of extending almshouse
provisions.
To enhance th8 chariV5 ￿81¢jents, qualty of life and improve their environment.
Consderation is lo b8 given to the use of modem technology lo incorporate viable eeo-friendly systems wrthln
our properties as and when the opportunities arise. When almshouses are refurbished, the latesl design
principles lo support the elde￿Y and disabled wll be considered and adopted where F*)ssible.
In considering the fLrtur6 strategy, consideration vlill be given to an increase in the Extraorfinary Repair and
Development Fund by a proportion of the surplus of 8ach financial year.
Structure. govemancg and managemènl
Governlng Documgnts
The charity was established by a Scheme ofthe Charity Commissioners on 29th Juty 1904 under charity
registration number 204453. On the 31st December 1975 the Charity Commissioners sealed a Scheme that
amalgamated Devizes Almshouse Charity, Lucas Home5 and The Helm$ Memorial Cottage Homes. On 2181
June 1988 the Charity Commission sealed a further Scheme that amalgamated Devizes Almshouse Charity and
The Ward Homes.
Thè trustees served during the year and the date the Trustees, Report wa$ approved were..
Mr R Akerman
Mr P Bennett
Mr D Burgess
Mrs C Blyth
Mr P P Duckett
Mr D S W Elliott
Mr J G Jones
Mr P Kent
Mr C Lucas
Mr S McGregor-Johnsc
Miss F K Tumber
Governlng Body
The Charity is administered and managed by a body of Trustees comprislng the Trustees for the time being of
Devizes MunicApal Charits'gs together with one nominated trustee appointed by Devizes Town Coundl. currently
Miss F K Tumber. The nominated trustee is appc4nted for a fixéd four year period, and the nomination of Miss
Tumber was ￿neWed ty Devvies Councll in 2021 after a meeting at Devizes Town COU￿11 for a further
four year period.
Oryanlsation Management
The Board of Tmstees meets quartedy, and a delegated Subcommittee slw¢tur@ is in plaeÈ ¥thch meets as
required to deal wtth the day-tovday issues and planninglpolicy recommendations. The day-104ay management
of the Ch8rity is del8gated by Trustees to the Clerk to the Trustees who works in close lia68on wth the Chairman
ofTrustees and the Chaimen of various committees.
New trustees attend an introductory event that includes a visit to the charity's residential ryoperties. commercial
propertie5, communal facilities and offices. Current procedures. policies and responsibilili&s are explained and a
fijll briefing pack provided. Further training if required is providgd as necessary. The charity takes full advantage
of training seminars organised by The AlmshouseAssociation.

DEVIZES ALMSHOUSE CHARITY
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Audttor
David Owen & Co were re-appointed as the charity'$ auditors during the year and have expressed their
willin9ne351o continue in that ¢ap8pity-
Dlsclo$uro of Infommtlon lo audltor
Eath of the trustees have ¢onfimed that there is no infomiatlon of whlth they are aware whlch Is relevant to the
audit, bul of which the auditor is unaware. They have fvrther mnfirmed that they have taken sppiopriate Steps lo
id&nlify such relevant information and to establish that the audrior 1$ aware of suth infomiation.
On beh
the Board of Trustees
Mrs
nson
Chaimi
eTI
stees
Dated.. 22 June
26
¢Gr

DEVIZES ALMSHOUSE CHARITY
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
Th8 trustees are responsible for preparing the Tru$tee$' Rewt and the financial statements In acWrd4n￿ with
applicable law and United Kingdom AccountiThJ Standards (Unhed lQngdom Generalty Accepted AceountirKJ
Practice).
The law applicable to tharities in England and Wales requires the trustees lo prepare financial statements for eath
finanual year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and
application of resources of the charity for that year.
In preparing these finanryal statements, the Iruslees are required to..
- select suitsble a￿aunting pdiues 8nd then appty them consistently.,
- observe the methods and principles in th8 Charities SORP.,
- make judgements and ests"mates that are reasonable and prudent.,
s&*e whether applicable aecounling $landard5 have been followed. sublttt lo any material departures (Isdosed
and explaingd in the financial statements.. and
prepare the finan¢iaS stslement8 on the going eoncem basls unks5 il 1$ inappropriate to pr95umè that the charity
will continue in operation.
The trustees are responsible for keeping SuffI￿ent accounting records that di$dose with reasonable accuracy al any
lime the finarrial position of the charity and enable them to ensure that the financial statements ￿mplY with the
Chartties Act 2011, the Charity {Accounts and Report$) Regulations 2008 and the provisions of the trust deed. They
are also responsible for safeguarding the assets of the charity and hencè for taking reas￿59b1e stèps for the
prevention and doleclion of fraud and oth8r irregularities.
The tru$tee8 are responsib18 for the malntenance and integrity of the charity and financial information included on
th8 charity's website. Legislation in the United lQngdom governing the preparation and dlssemination of financial
statements may differ from legislation in olherjurisdictions.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DEVIZESALMSHOUSE CHARITY
Opinlon
We have audited the financial statements of Devizes Almshouse Charity Ilhè 'char[￿l for the year ended 31
December 2025 which comprise the Statement tsf financial activities, the balance sheet. the statement of cash flows
and notes to the financial stalemenls, induding Significant accounting poliues. The financial reporting frame
Ihat has been applied in their prepar8tion is applicable law and United ￿ngdoM Accounting Stsndards, includw
Financial Reporting Sland8rd 102 The Fln8nci81 Reportlng S18nd8rd applic8bl8 in the UK and Rgpublic of Ireland
Iuniled lfjngdom Gen8r81ty Accepted Ac£ounling Practice).
In our OFinion, the ffnancial statements..
give a true and fair view of the stste of the chanty's affairs a$ al 31 December 2025 of rts tncoming
resources and application of resources, for the year then ended-
have been properly prepared in accordance with United KIng￿rn Generally A￿pIed Aeeounting Practi￿..
and
have been prepared In a¢¢ordanrE wlh the Charities Act 2011.
Ba$ls for oplnlon
We conducted our audit in accordan￿ Intem8tional Standards on Auditing (UK) {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audrforfs rasponsibilities for the audit ol
the financlal st&t8menls section of wr report. We are independent of the charty in accordance with the ethical
requirements th81 are relevant to our audit of the finanuol slatemenls in the UK. including the FRCS Ethieal
Standard, and we have fv1fi118d our other ethical responsibilities in accordance with Ih¢$e requiremen15. We believe
that the audit evidence we have obtained is suffiuent and appropriate to provide a basis for our opinic￿.
Concluslons relatlng to golng conc•m
In auditing the financial statements, we have conduded that the Trustees. use of the going ccncem basis of
accounting in Ihe preparation of the financial stslements 18 appropriate.
Based on the work we have performed. we have not identffied any material unceitsinlies relating to events or
conditions that, indiwdually or collectively, may cast Significanl doubt on the charity's ability lo ￿ntinue as a g￿ng
eoncem for a period of 81 least tsvelve m¢)nths from when the financial slatements are authwi8ed for issue.
Our responsibilities and Ihe responsibilitses of the truslees wth respecl to goir¥J corKern are ￿8￿ribed in th8
relevant sections of this report.
other Infomiatlon
The other infom)alion comwtses the irrfomiation included in the annual report cther than the financial statements
and our auditorfs report Ihereon. The trustees are responsible for the other information contsined wthin the annual
report. Our opinion on the financial statements (loes not eover the other infornialon and we do not express any form
of assuran¢e condusion thereon. Our re$pon$ibility is to read the other information and, in doing so, consider
whether the other infomation 1$ materially inconsistent the financial statements or ow knovAedge obtained in
the coutse of the audit, or otheMise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misslalements, we are required to determine whether this gives rise lo a material misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there 1$ a
material misstatement of this otsr infomiabon, we ar8 raquirad to T8POrt that fact.
We have ncthing to report in this regard.
Matters on which we arg fgqulrod to rnport by •x¢eptlon
We have nothing to report in respect of the following mattws In relation to whlch the Charlties (Accounts and
Reports) Regulations 2008 requires us to Teport lo you if, in our opinion:
the information given in the financial slatemenls is inconsislenl in any m*erial respect with the TNstees'
report., or
sUffiC￿nI accounting records have not been kept." or
the financi81 ststemenls are not in agreement with the accounting records,. or
we have rot received all the infoTmatkJn and explanations we requTe for our authl.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DEVIZES ALMSHOUSE CHARITY
RosponslbSlttles of tru$1o0s
As explained more fijlly in the Statement of Trustees, Responsibilities, the trustee5 are responsible fof Ihg
preparation of thg ffinancial slalements and for being satisfied that they give a Irug and fair view, and for such
Inl8mal control as the trustees delemine is neCes￿ry to enable the preparation offinan¢ial statements that are free
from material misst*ement, whether due to fraud or emr.
In preparing the financial stslements. the trustees are responsible for assessing the Charity's ability lo contsnue as a
going conc8m, disdosing, as applicable. matters related lo going concern and using the goin9 concwn ba$1$ of
accounting unless the trustees either intend to cease operations. or have no w118￿c altematlve but to do so.
Audltovs rosponslbllities lor the audlt of the flnanclal ststem8nts
We have been appointed as audiloT under section 144 of the Charitigs Act 2011 and report In aCC￿dance y￿th the
Act and relevant regulations made or having effect thereunder.
Our objectiv8s are to oblaln reasonable assurance about whether the financial ststements as a whob are f￿e from
material misslalemenl, whether due lo fraud or error. and lo issue an audrtorfs report that includes our opinion.
Reasonable assurance is 8 high level of assurance but is not a guarantee th* an audit eonducted in accordance
th ISAS IUKI will always detect a material mis$lalement when it exists. Misstatements can arise from fraud or
error and are considered material rf, individually or in the aggreg81e, they could reasonably be expected to infiuen
the economiG decisions of users taken on th8 basis of these financial ststements.
The extent to ￿Ech our procedures are capable of detecting Irregularities, including frau¢J. is detalled bdow.
We obtained an understandlng of laws and regulati¢X$ that affect the charity, f￿USIng on those tPat had a
direct effect on the financial stslemenls or that had a fundamental effoct on its operations. Key I￿ and
regulations that we identified included the Charities Act. occupational hearth and employment legislation
We enquired of the trustees, reviewed any correspondence with Charity Commission and reviewed trustee3
meets.ng minutes for evidènce of nonwcompliance with relevant laws and regulations. We also reviewed
¢ontrol$ the trustees have in plac8 to ensure complian￿.
gained an understanding of the controls Ihal the trustees have In place lo prev8nt and detect fraud. I
enquired of the trustees about any incirlences of fraud that had taken place during the accounting period.
The risk of fraud and r￿n-complIaneè with laws and regulations and fraud was discussed withln the audtt
team and tests were planned and perfomed to address tfvese Tisk5. We idenlrfied the poiential for fraud in
the followng areas.. mi$appropii81ion of cash arKI other assets, and misstatement of the investment
property valuations.
We reviewed financial statements disclosures and lesled to supporb'ng documentation to assess
compliance wlh relevant laws end regulations discus8ed above
We enqulred of the trustees al)oul aGtual and potentk91 litigation and claims
We performed analyti￿1 procedures to identify any unusual or unexpected relat￿nshIpS that m￿5ht Indlcate
risks of material misstslement due lo fraud.
In addressing the risk of fraud due to management overyide of intemal controls we tested the
approprialaness of joumal entries and assessed whether the judgements made in making accounting
estimates were indlcalive of a potential bias.
A fjjrther description of our responsibllities is available on the Financial Reporting Counol's website ot.. https.'Il
4w.frc.org.uklauditorsresponsibilities. This description foms part of our ouditorfs report.

DEVIZES ALMSHOUSE CHARITY
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF DEVIZES ALMSHOUSE CHARITY
Other matters
Your attention is drawn to the fact that the charity has prepared ffnancSal statements in acc￿18n¢e with"AecounllrKJ
and Reporting by Charities= Slalement of Recomfflended Practice applicable lo chaiities preparing their a¢¢ounts in
accgrdan¢e with the Financial Reporting Stsndsrd applicable in the UK and Republic of Ireland IFRS 1021" las
amended} in preference to the Accounkn"ng and Reporting by Ch8rities.' Statement of Recommended Practice issued
on 1 April 2005 whth is referred to in the ext8nt regulation8 bul has now been withdrawn.
This has been done in order for the finantial stslements to provide a true and fair view in a¢cordan¢e wth current
Gener8ltyAeeepted Accounting Practice.
This report is made solely to the charity's trusteès. as a tcdy, In accordance wlh Part 4 of the Charit￿$ IAwLrts
and Reports) Regul*ion$ 2008. Our audit work has been undertaken so that we might stale lo tho charity's trustees
those matters we are required to stste to them in an auditor's report and for no oth&r purpose. To the fijllesl extent
permrtted by law, we do not accept or assume responsibility to anyone other than the charrty and the d)arty's
tru$lee8 as o body. for our audit wort(, for this report, or for the opinions we have formgd.
David O￿n & Co
Chartered Accountsnts
Statutory Audltor
17 The Market Place
Devizes
Ilshire
SN10 1HT
David Owen & Co is eliglble for appolnlment as auditor of the charty by virtue of ils eligitilty for appointrnent as
auditor of a eompany undLV section 1212 of the Companigs Act 20C6.

DEVIZES ALMSHOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestricted
fund$
2025
Unreslrfctod
funds
2024
Notob
Income from..
Charitable activille8
Investments
471.547
2SO,676
459,408
221.386
Total Income
722,223
680,794
Expendlture on:
in
Investment management
65,302
60.094
Charitable aciivilies
Other expendrture
540,731
10,966
476.866
10
Total exp&ndlture
616.999
536,960
Net gainsl(losses) on investments
13
29,901
122,325
Not Income and movement in funds
135,125
266,159
R•conclllatlon of funds:
Fund balances at 1 January 2025
9,268.596
9,002,437
Fund balances at 31 December 2025
9,403,721
9,268,596
Thè statement of financial activities inclLwJes all gains and losses rec¢¢Jnlsed In the year. All income and expenditur8
derive from continuing activities.

DEVIZES ALMSHOUSE CHARITY
BALANCE SHEET
ASAT31 DECEMBER 2025
2025
2024
Notes
Fix•d assèts
Tangible assets
Investment propertie8
Investments
14
15
16
4.164,187
3,117,000
289,145
4.277,238
3,117,000
252,965
7.570.332
7,647,203
Current assets
Debtors
Cash at bank and in h8nd
17
69.488
1,826,343
56.787
1,619,121
1,895,829
1.675,908
Credltors: amounts falllng due wlthln
on8 year
18
{62,440}
154,515}
Net current assets
1,833,389
1,621,393
Total 898ots less cUrr￿t liabilities
9.403.721
9.268.596
Income funds
Unrestricted fund
Designatèd fiJnd$
Genetal funds
20
9,003,721
400,000
8,868,596
400.000
9.403,721
9,268,5
9,403,721
9,268.596
The financial $talemenl$ weie approved by the board of trustees and aulhorised for issue on 22 June 2026 and
signed on its behalf by..
Mr P Bennett
Trustee: Chair of the Finance Committee
10-

DEVIZES ALMSHOUSE CHARITY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Notes
Cash Ilows from op•rating actlvltl
Cash {absorbed byllgeneraled from
0￿ratiOnS
22
(15,568)
33,852
Investlng activitlos
Purchase of tangib￿ fixed assets
Proceed8 on disposal of investm8nl
property
Purchase of other Investments
Investment income received
121,6071
189,699)
105,000
15.5741
221.386
(6,2791
250,676
Not cash generated from Invosting
a¢tlvities
222,790
231.113
Net cash used In flnanclng acllvltles
Net in¢reas• In cash and cash equlvalènts
207.222
264,965
Cash and cash equivalents al Winnlng of year
1,619.121
1,354,156
Cash and cash wulvalents at end of ye•r
1.826.343
1.619,121
11

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policlos
Charlty Inforniatlon
DevizesAlmshouse Charty is a registered charity, number 204453.
1.1 Accountlng conventlon
The finanual statements have been prepared in accordance wlh the charity's goveming document. the
Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol
Ireland. {'FRS 102.) and the Charrties SORP 'Aecounting and Repclrting by Charities.. Stalèmenl ol
Recommended Practice applicable to charib'e$ preparing their awounts in a￿ordOnCe wth the Financk81
Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. (effective 1 January 2019). The
charity Is a Public Benefit Entity as defined by FRS 102.
The financial statements have d8parte15 from the Charitias (Aceounls and Reports) Regulations 2008 only to
the extent ￿qUired lo prowde a true and fair wew. Thi$ departure ha$ involved followng the Statement of
Recommended Pr8Ctice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practi￿ which is referred to in the Regulation8 but which has since been withdrawn.
The financial statements are prepaTed in sterling. which 15 the fundional currenGy of the charity. Monetsry
amounts in these financial stslements are rounded to the nearest £.
The financial slalemenls have been prepared under the historical cost convention, modified lo include the
ievalualion of investment properties and certain financial instruments at lair value. The principal accounting
policie5 adopted are Set out below.
1.2 Golng ¢on¢¢rn
At the time of approving the financial ststemenls, the Iruslees have a reasonable expectation that the charity
has adequate resources to continue In operallonal existence for the foreseeable future. Thus the trustees
continue lo adopt the going concem basis of aecounling in kYep8ring the financial ststements.
1.3 Charftsble funds
Un￿striCted fund8
There are no specific restrictions as to the use of these fvnds. The trustees allocate out of general fiJnd8
appropri8te sums for extraordinary repairs development and land acquisition lo reflect possible expenditure in
the foreseoable ftrture.
Designated funds
These are unrestricted fvnds earmarked by the trustees for particular purpose&
1.4 Incomlng resources
Income is iecognised when the charity is legally entitled Io tt after any performance condlbons have been m&1,
the amounts can b8 measured reliably, and tt is probable Ihal income will be received.
Incoming resources from both almshouses and inveslmenl propety rentsls and investments are included
when recebvable.
1.5 Resoufce5 expended
All expgndilure is accounted for on 8n accruals basis. Resources expended in￿￿de attributable VAT %thich
cannot be recovered. Governance costs are those incurred in connection wth administration of the charty
and compliance with consts'tutional and statutory rgquirements.
12-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting pollcl•s
Icontlnued)
1.6 Tanglble flxed assets
Assets costing £500 or more are capitalised as tsngible fixed assets and are ¢8rried at cost, net of
depreoation and any provlskjn for Impalrment.
Tangible fixed assals are initially measured at cost and subsequently measured al cost or valuation, net of
depr￿atIOn and any impairment losses. The almshouse properties were valugd in 1991, with subsequent
additions being staled at cost . The charity is taking advantsge of the FRS102 transitional exemptirm to value
the propety al deemed c05t ￿thOut adopting a policy of revaluation.
Depreciation is provided at rates calculatad lo write off the cost less estimated residual value of each asset
over it5 exp8cl8d useful lrfe, as follows:
mhouse properties:
General fabric of the building
Kitchen and bathroom fixtures and fitting
Central heating systems
Over 50 Years
Over IS years
Over 15 years
Almshouse equipment
10% to 25% stralght line or reducing balance basis
Office equipment
25% to 33% straight line or reducing balance basi$
Freehold land and assets in th8 Course of construction are not depreci81ed.
The gain or loss arising on thè disposal of an asset is delemined as the differen￿ betsveen the salo
proceeds and the carrying value of the asset and is reGognised in nel incomellexpenditurel for the year.
1.7 Investment propertlos
Investment property, whlch18 property held to eam rentals andlor for Gapitl appreciation, is m8a5ur8d using
the fair value model and sl8led at its fair value as the reporting end dal8.
Inv8Stmenl properties are rgvalued al fair value al balance sheet dale by the Twstees based on Irrfomiation
provided by the Charty's managing agents. A full professional revalualion look place during Decemb8r 2022
and the gain tsken to the Statement of Financial Aetivities. The managing agent undertook a bi-annual
valuations (via a (Jesktop exercise) as al 31 December 2024, to provide updates ID freehold values.
Gains OT 10s$gs arising from changes in the fair Val￿ of investment propety a￿ Included in Statsmenl ol
Financial Activities for the period in whi¢h tw ari8e.
1.8 Flxed asset Investments
Quoted inveslm?nts held a5 fixed assets are revalued at fair value at the balance sheet dale and ￿realised
gains or losses arising from change8 in the foir value of Investments are induded in Slalement cf Financial
Activities for the peri¢xI in whSch they arise.
1.9 Cash and cash equlvalents
Cash and cash equivalents inc1L￿e cash In haTrJ, deposits held at call with banks, other short.lemi liquid
investments original molurilies of three months or less, and bank overdrafts. Bank overdrafts woukl be
shown wthin boffowings in current li¥*)ilitses.
1.10 Rètiremfrnt bèn
The charity operates a defined contributions pension scheme. Contribubons are Gharged in the accounts as
they become payable in accordan￿ wth the rules of seheme.
13-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policieB
(Continu￿)
1.11 Taxauon
The eharity is generalty exèmpt from Income Tox and CaFilal Gains Tal bLrt not from VAT. Irre¢overable VAT
is induded in the wst of those items lo whith il relates.
crftlcal accountlng estlmates and Judgements
In the applicallon of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions aboul the carying amount of assets and liabilities that are not readily apparent from other
sources. Th8 estimat8s and associated assumpbons are bas8d on histOriCAI 8xp8rianc8 and other factors that
are considered lo be relevant. Actual results may differ from these estimates.
The gstimates and undorlying assumptions ore reviewed on ￿ ongoing basis. Revisi¢)ns to •¢¢ounb'ng
eslimales are recognised in the period in which the estimate is revrsed where the revision affects ￿lY that
period. or in the period of the r8vison and future periods where the revision affects both current and future
periods.
crftlc•l Judggmonts
The following judgement5 {apart from those involvirrfJ estimates) have had the most significant effect on
amounts rewnised in the financi81 ststements.
Rèvaluatlon of Invèstm•nt propèrtlos
The charity carries ils investment property al falr value, with changes Sn falr value beSng recogrised in the
8tstemenl of financial activf(ies. The investment properties are sfM)wn at their open market value, this being
Iruslees, assessment of the current worth of these woperties based independent piofesslonal valualv)ns and
reviewed by the trustees.
CharStablo actlvttlos
un￿stricted
funds
2025
Total
2024
maintenan￿ charge
Other Income
Feed in Taiiff
452,122
12,010
7,415
446.615
7,123
5,670
471,547
459.408
14-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Investments
Unrestrfcled
funds
2025
Total
2024
Rental mcome
Income from li$t¢d investments
Interest receivable
182.236
11.148
57.292
174,028
10,214
37.146
250.676
221,386
Co8t of ralslng fvnds
Unrestricted
funds
2025
Total
2024
Investment m
na emenl
Rentsl managem8nl fee
Repairs and insurance
Legal and professional tees
20,241
43,386
1,675
15,736
29,547
14,811
65,302
60.094
CharStable activiiiès
2025
2024
Almsho￿6*
Staff cosls
DeKxwatKJn and impaimient
Travelling expenses
Repairs and maintenance
Water
Electricity and gas
General insurance and lieences
Cornmunication care and telep￿ne
Annual oub"ng, Christmas gifts social expenses
91,095
122,302
29
120,616
25,429
75.919
12,498
8,6
6.375
71,990
123,830
84,072
21,587
79,003
13,810
5,894
6,386
462,869
406.552
Support costs (see note n
Govemance costs1$oe note 7)
69,004
8,8S8
62,072
8,242
540.731
476.866
15-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Support costs allo¢aled to a¢tlvltle8
Total
2025
Total
2Q24
Staff costs
DepreThatr'on
Telephone
Office expenses
Bonk tharges
Legal fees
Sundry &xpen8es
Govemance
81,074
1,390
2.756
1,210
291
1.700
583
8,8S8
55,747
1.982
1,831
1,691
137
8,242
77,862
70,314
2026
2024
Governance Costs comprise:
Audit fees
Trustee indemrty IMur8nce
Sundry expenses
6.800
756
e,550
756
936
8.858
8,242
Net movement In funds
2025
2024
The net movement in lund5 is staled after chawingllcrediting)-.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
Loss on disposal of tangible fixed assets
6,600
123.692
10.966
6,550
125,812
Trust•8s
None of the trustees (or any persons connected with them) received any remunerati1￿ during tha year. and
none of them received any reimbursement of expenses.
10 Othgr 8xpend&turn
Unrg$trl¢tgd Unrnstricted
funds
funds
2026
2024
Net loss on disposal of tangible fixed assets
10,966

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11 Employg8S
The average monthly number of fijll and part time staff durlng the year w88 5 {2024 - 51 and the average
ftumber of full lime equivalent employees by function was=
2025
Number
2024
Number
Almshouses
Administration
Total
Employment costs
2025
2024
Èges and 8alaries
Social security costs
Other pension costs
131,000
12.677
8,492
111,282
8,958
7,497
152.169
127.737
Redundancy and termination payments totalling t11,059 were made in the rtrporbng pertod, thrO￿h mLrtual
consent ,due lo staff restrucauring.
There were no employees whose annual remunaralion was more than £60,000.
12 Taxatlon
Devvzes Almshouse Charity as a registered charity and is therefore exempt from liabilty to L￿at[Oft c4) its
income and capitsl gains.
13 Net gain￿{10$98$I on Investments
Unrestricted
funds
Total
2025
2024
Revalualion gains ￿ investments
Revaluation gains on inv8Stmenl propertres
29.901
8,759
113,566
29,901
122.325
17-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14 Tanglble flxed a￿ets
Alm*hoLthes Almshouje
and lan
oqulpment
Total
Cost orvaluatlon
Al 1 January 2025
Additions
Disposals
5,259,594
21,607
51.426
14.517
5,325,537
21,607
{36.551}
136,5511
Al 31 December 2025
5.281,201
14.875
14,517
5,310,593
Dgprgclatlon ond Impaimiènt
Al 1 January 2025
Depreciation charged in the year
Eliminated in respect of disposals
1.002,862
11B,167
35,68S
4,135
{25,5851
9.752
1,390
1,048,299
123,692
125.585
At 31 December 2025
1.121.029
14,235
11.142
1,146,406
Carrylng amount
At 31 December 2025
4.160.172
3,375
4,164,187
At 310gcember 2024
4,256,732
15,741
4.765
4,277,238
The transitional provisions of FRS102 are being followed in respect of the revaluation of the frethold land and
buildings and the valuation has not been updated. The cost or valuation of the Almshouses and Land reflects
the profe35ional valuation of the properties 88 812nd January 1991 amounting lo £926,300 Icgether 4
subsequent addltlons at cost of £4,354,901 since that date.
15 Investmant PrO￿rty
2D26
Fair valuo
At 1 January 2025 and 31 December 2025
3,117,000
The investment properties are reviewed at fair value al the balance sheet date by the trustees based on
valuation infofmats'on in ac￿rdance with note 1.7. The majority of properties were subject lo a profes81c￿al
valuation by Carter Jonas dated 31 December 2024 and when their value amounted to £3,078,000.
N Investment properties were stated on an historical cost basis rather than a fair Val￿ basis. tre amounts
would have been induded as frllows:
2026
2024
Cost
1,350,897
1.350,897
Full details of the historie41 cost Of the investment properties are unknown. Full dthls of costs are only
available since 1996.
18-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Flxod ass81 Invastments
L15tsd
Investments
Cost or valuatlon
At 1 January 2025
Additions
Valuatbon changes
252,965
6.279
29.901
At 31 December 2025
289,145
Corrying amount
At 21 December 2025
289,145
At 31 December 2024
252,965
17 Debto
2025
2024
Amounts falllng du• withln one year:
Trade debtors
othèr debtors
Prepayments and accrued I￿oMe
37,076
21,664
10,746
32,038
18,156
6,593
69,486
56,787
18 Credltors: amounts falllng due wlthln one year
2025
2024
Trade creditors
Other creditors
Accruals and defe￿¢￿ irtome
21,531
11,513
29,396
23,686
1,853
28,976
62,440
$4,515
19 Retirement b•n•fft $¢hemes
2025
2024
D•fined contrlbution schemes
Charge to profrt or1088 In respect of defined contribution schemes
8,492
7,497
The Gharty operate5 8 defined contribution pension scheme for all qualifying employees. The assets of the
heme are held separately from those of the eharily in an independently administered fund.
19-

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20 ilnrestrfctod funds
The unrestricted funds of the charity also indude designated f￿d$ which have b88n set aside by tho trustees
for specific purposes.
Movement In funds
Incoming Resources
Transfer5 Investments Balance at 31
resources
expended
galnsllosse5
December
2025
Balance at 1
January
2025
Deslgnated fvnds
Extraordinary repair
and development
fund
Cyclical
maintenance fund
Fixed assets fund..
mshouse assets
Fixed asset5 fund..
Investment
propertles
1,367,358
248,176
1,615,534
107,000
107,000
4,27T,238
1134,6581
21.607
4.164,187
3.117,000
3,117,000
8,868,596
1134.6581
2e9,783
9,003.721
Gon•ral funds
400,000
722,223
(482.3411
{269.783)
29,901
400,000
9.268,596
722,223
(616,999}
29,901
9,403,721
In order lo fulfil ils objectives, the charty must maintain its almshouses and adapt to Changing ¢ir¢umstsn¢es
and accordingly the designated reserves shown provide for cyclical maintenance and redevelopment
relurtfyishments. Cyclical maintenance occurs on an annual basis, bul redevelopment and refurbishments
nomially only occur vthen rKoperties become vacant.
Fixed a55ets frjnd.. The almshouses are central to the charty's aciiwty and their balancè sheet value is
maintsined in 8 designated reserve.
Fixed assets fund: Investment properties long temi inveslmenls and nol easity realised.
General fiJnd8. This repr8S0nls approximalety 1 years expenditure hekl in re$erve.
21 Rglated party transaGtlong
The charity provide$ administrative services at a ¢o$t of £75012024 - £7501 to DevYz8s Municipal Charthe5,
charity with a common history and trustees.

DEVIZES ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
22 Cash goneraled from operatlons
2025
2024
Surplus for the year
135,125
266,159
Adjustments for..
I￿@Str￿ent income recognised in statement of financial *tivf(ies
Loss on disp0581 of tangible fixed assets
Fair valua gains and l¢)sses on investment Fwperties
Fair value g8ing and losses on investments
Depreciation and impaiment of tangible fixed assets
1250,8761
10.966
1221,386}
1113,5661
18,7591
125,812
{29,901)
123.692
Movements In working capital..
Ilncrease) in debtors
Increase in creditors
112.699)
7.925
115,2741
Cosh (absorbed by)Igenerated from operations
(15.5681
33,852
21