THE EIGHT MEN OF BROADCLYST
ACCOUNTS AND REPORT
FOR THE YEAR ENDED
31 MARCH 2021
THE EIGHT MEN OF BROADCLYST
CONTENTS
Reference and administration details
Trustees' report
Independent examiner's report
Receipts and payments account for the year ended 31 March 2021 Statement of assets and liabilities as at 31 March 2021
Notes to the statement of assets and liabilities
THE EIGHT MEN OF BROADCLYST
REFERENCE AND ADMINISTRATION DETAILS
Charity names
The Eight Men of Broadclyst are an unincorporated body of trustees who administer the registered charities known as Poor's Land (registered number 203395) and Burrough's Almshouses (registered number 206249).
Trustees
James Gaisford Chairman Jason Jackson Hon. Treasurer (Appointed 14[th] February 2020) Henry F Gent David Ackland Kevin P Bateman Adrian Pitts Kelvin Grabham Ed Rhodes (appointed 29[th] June 2021)
Hon. Secretary
The honorary secretary is Mrs Mary A Ackland.
Correspondence address
Francis Court Farm Broadclyst Exeter EX5 3LW
Accountant and independent examiner
Devon Self-Assessment Ltd Unit 7a, Hanbury Buildings Bradley Lane Newton Abbot TQ12 1LZ
Bankers
Lloyds Bank plc 234 High Street Exeter EX4 3NL
THE EIGHT MEN OF BROADCLYST
TRUSTEES' REPORT
The trustees present their report and the accounts for the year ended 31 March 2021.
Structure, governance and management
The Eight Men of Broadclyst are an unincorporated body of trustees who administer two charities known as the Poor's Land and Burrough's Almshouses. The governing documents of both charities are schemes approved by the Charity Commission and sealed on 26 August 1960.
Details of the trustees who served during the year are given on page 1. No trustee receives any remuneration or benefit from the charities. Any vacancies are filled by appointment from recommendations by the continuing trustees.
The trustees are responsible for maintaining proper accounting records and for the preparation of the accounts. They consider that an independent examination is required.
The trustees are also responsible for safeguarding the assets of the charities, which they and their predecessors have done modestly and competently since the Burrough's Almshouses were built in 1605, over four hundred years ago.
Objectives and activities
The income from the Poor's Land charity must be applied for the benefit of poor and needy persons of the parish of Broadclyst. The relatively small amounts of money involved and modern circumstances have made it difficult for the trustees to identify suitable individuals. Thus the trustees have made it their policy to make grants to local organisations that provide services used by the less affluent and elderly residents of Broadclyst.
The Burrough's Almshouses charitable purpose is for the provision of Almshouses for poor single persons resident in the ancient parish of Broadclyst and for the general benefit of the alms people.
It provides accommodation for people of 55 and over, formerly, or currently living in the parish of Broadclyst or adjoining parishes who are financial need. There are currently 5 occupants.
The trust is responsible for maintaining almshouse units in Broadclyst. The trust has no paid employees and relies entirely upon volunteers to manage and administer its affairs.
Achievements and performance
The Almshouses were fully occupied.
THE EIGHT MEN OF BROADCLYST
Financial review
Results for the year
The land rents and dividends received by the Poor's Land charity enabled it to pay grants of 1,810 and this will be donated 50% to Clyst Caring, 25% to Broadclyst in Need and 25% to The Broadclyst Food Bank.
The Burrough's Almshouses maintenance contributions from the tenants were not increased in April 2020 due to the exigencies of the COVID pandemic. It is intended to bring them closer to the equivalent fair rents which were assessed by the Rent Service in 2006.
The Burrough's Almshouses cash flow surplus for the year was £20,011.
Reserves policy
The Poor's Land has no regular, unavoidable expenditure hence no free reserves are considered necessary.
The unrestricted fund balance, shown on the Statement of Assets and Liabilities, arises because of the inevitable timing differences between income and expenditure.
Burrough's Almshouses maintains designated reserves to meet future extraordinary and cyclical repair liabilities.
Transfers in and out of these two funds, in line with guidance from the Almshouse Association, are considered annually by the Trustees, dependent upon surplus income or capital commitments. In addition, the Trustees have felt it expedient to form a general reserve, which over the years, will be brought up to a level commensurate with the turnover. The reserve will be available to cover unforeseen expenditure or cash flow deficits.
Investment policy
The trustees consider that investments specifically designed for the charitable sector are the most appropriate for the charities' medium to long term investment requirements. Such investments have hitherto produced reasonable levels of income and capital growth. The trustees are satisfied that the investments remain suitable but they continue to monitor the investment valuations, particularly in regard to the difficulties in the financial markets more recently.
Investments from general fund investments.
Investments have increased in value in line with the fluctuating performance of financial markets and cash deposits have increased by approximately £18,000.
THE EIGHT MEN OF BROADCLYST
Future developments
The Trustees organised a Quinquennial Inspection Report in 2015 which identified a schedule of works and their priorities which are being worked through using the services of Baker & Baker.
The trustees intend to regularly review the almshouse maintenance contributions and the land rents to ensure they are not only affordable but also realistic. In this way the financial security of the charity will be safe guarded so that not only the current but also future residents and tenants will benefit.
Approved by the trustees on and signed on their behalf.
James Gaisford – chairman
(HARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Burrough's Almshousés On accounts for the year ended 31 St March 2021 Charlty no (if any 206249 Set out on pages 1&2 I report to the Iruslees on my examination of the accounts of the abov8 charity I the Trust") for thè year ended 31. March 2022. Responsibilitl8s and basls of report As th8 charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act"). I report in respect of my 8xamination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by th8 Charity Commission under section 145(51(b} of the Acl. Independent I have completed my exarninalion. I confirm that no material matters have examiner's Statsment come to my attention in connection with the examination which gives me cause to beliève that in, any rnaterial respect.. the accounting records were not k8PI in accordance with section 130 of the Charrties Act, or the accounts did not accord with the ac¢ounting r8cords,' or the accounts did not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considerèd as part of an independent examinalion. I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do nol apply. Slgned: Date: 4th May 2023 Name: Kay Smith MCIB MP Dip Relevant professlonal qualification(sl or body lif any): Charter&d Institute of Book-keepers Address: Unit 7a Hanbury Buildings Newton Abbot IER Oct 2018
Devon, TQ12 1LZ Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts-. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trustees Poor's Land On accounts for the year ended 31" March 2021 Charity no (if any) 203395 Sot out on pages 1&2 I report to the trustees on my examination of the accounts of the above charity ("the Trust.) for the year ended 3181 March 2022. As the charity's trustees. you are responsible for the preparation of the a¢counts in accordance with the requirements of the Charrties Act 2011 <'the Acl'}. Responsiblllties and basls of report I report in r&sp8Ct of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5}Ib) of the Act. Indepondent I have compleled my examination. I confirm that no material matters have axaminerf8 Statement come lo my attention in connection with the examination which gives me cause to believe thal in, any material respect.. the accounting records were not kept in ac¢ordan¢e with section 130 of the Charities Act., or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no Goncerns and have come across no other matters in connection with the examination to which altenlion should b6 drawn in this report in order to enable a proper understanding of the acGounts lo be reached. Please delete the words in the brackels if they do not apply. Slgnèd: Date: 4th May 2023 Name: Kay Smith MCIB MP Dip Relevant professional qualification{s} or body lif any): Chartered Institute of Book-keepers Address.. Unit 7a Hanbury Buildings Newton Abbot IER Oct 2018
Devon, TQ12 1LZ Section B Disc105ure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts= dir8Ctions and guidance for examiners). Glve here brief details of any items that the examiner wishes to disclose. Oct 2018 IER
THE EIGHT MEN OF BROADCLYST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 March 2021
| Receipts Almshouse rents Land rents Dividends Interest Total income receipts Charitable payments Grants paid Broadclyst Village in Play Broadclyst Youth Club Clyst Caring Charitable Activities South West Water Routine property maintenance Cyclical property maintenance Professional fees Insurance TV licence Almshouse Association annual membership Empty Property Rates Miscellaneous Christmas presents and honorarium Management & administration Secretarial expenses Baker and Baker fee Total expenditure payments Other payments Almshouse Association loan repayments Purchase of COIF units Total payments Net (payments)/receipts Cash funds at end of previous year Cash funds at this year end |
Year to 31.03.2021 Poor's Land Burroughs Almshouses Total £ 24,010 £ 24,010 £ 644 £ 644 £ 1,166 £ 2,022 £ 3,188 £ 1,811 £ 26,032 £ 27,843 £ - £ - £ - £ - £ - £ - £ 570 £ 570 £ 1,906 £ 1,906 £ - £ - £ 432 £ 432 £ 871 £ 871 £ - £ 142 £ 142 £ - £ - £ 300 £ 300 £ - £ 4,221 £ 4,221 £ - £ 1,800 £ 1,800 £ - £ 1,800 £ 1,800 £ - £ 6,021 £ 6,021 £ - £ 6,021 £ 6,021 £ 1,811 £ 20,012 £ 21,822 £ 916 £ 17,149 £ 18,065 £ 2,727 £ 37,161 £ 39,887 |
Year to 31.03.2020 Poor's Land Burroughs Almshouses Total £ - £ 18,281 £ 18,281 £ 1,389 £ - £ 1,389 £ 1,143 £ 2,314 £ 3,457 £ 2,532 £ 20,595 £ 23,127 £ - £ - £ - £ 500 £ - £ 500 £ 2,045 £ - £ 2,045 £ 2,545 £ - £ 2,545 £ - £ 1,041 £ 1,041 £ - £ 1,458 £ 1,458 £ - £ 46,583 £ 46,583 £ - £ 151 £ 151 £ - £ 925 £ 925 £ - £ - £ - £ - £ 140 £ 140 £ - £ 836 £ 836 £ - £ - £ - £ - £ 367 £ 367 £ - £ 51,502 £ 51,502 £ - £ - £ - £ - £ 1,800 £ 1,800 £ - £ 1,800 £ 1,800 £ 2,545 £ 53,302 £ 55,847 £ - £ - £ - £ - £ - £ - £ 2,545 £ 53,302 £ 55,847 -£ 13 -£ 32,707 -£ 32,720 £ 929 £ 49,856 £ 50,785 £ 916 £ 17,149 £ 18,065 |
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1
THE EIGHT MEN OF BROADCLYST STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2021
| Notes Fixed assets Almshouses 1 Investments at valuations 2 Current assets Debtors & prepayments 3 Cash at bank and on deposit 4 Creditors & accruals 5 NET ASSETS Fund balances Perpetual endowment Designated funds: Property extraordinary repair Cyclical maintenance Other unrestricted funds FUNDS |
Poor's Land Burroughs Almshouses Total 2021 £ - Cost/valuation not available £ 39,928 £ 207,529 £ 247,458 £ - £ - £ - £ 2,727 £ 19,619 £ 22,345 £ - £ - £ - £ 42,655 £ 227,148 £ 269,803 £ 39,928 £ 14,057 £ 53,985 £ 159,409 £ 159,409 £ 32,793 £ 32,793 £ 2,727 £ 20,889 £ 23,616 £ 42,655 £ 227,148 £ 269,803 |
Poor's Land Burroughs Almshouses Total 2020 £ - Cost/valuation not available £ 33,016 £ 166,858 £ 199,874 £ - £ - £ - £ 916 £ 43,246 £ 44,162 £ - £ - £ - £ 33,932 £ 210,104 £ 244,036 £ 33,016 £ 11,623 £ 44,639 £ 127,934 £ 127,934 £ 26,265 £ 26,265 £ 916 £ 44,282 £ 45,197 £ 33,932 £ 210,104 £ 244,036 |
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2
THE EIGHT MEN OF BROADCLYST NOTES TO THE STATEMENTS
1 FIXED ASSETS
Burrough's Almshouses
The Charity owns 5 Almshouses in Broadclyst. There are no figures available for the original costs of these Properties and the trustees consider that the cost of obtaining a valuation would out outweigh any benefit derived therefrom.
During the year to 31st March 2017 a major refurbishment of the properties was undertaken at a cost of approximately £70,000.
2 INVESTMENTS
Poor's Land
| 15.4 acres of Land Other investments Market Values at 1 April 2020 Net Gains on revaluation at year end Market Values at 1 April 2021 Burrough's Almshouses Other investments Market Values at 1 April 2020 Transfers at year end valuation Net Gains on revaluation at year end Market Values at 1 April 2021 3 DEBTORS AND PREPAYMENTS Land rents due on March quarter day Arrears of almshouse rents 4 CASH AT BANK AND ON DEPOSIT Lloyds Bank plc COIF deposit Account 5 CREDITORS AND ACCRUALS Amounts falling due within one year Other creditors Accruals |
Perpetual Endowment £ £ 33,016 £ 6,912 £ 39,928 Perpetual Property Property Endowment Extraordinary Cyclical Repair Maint. Fund Fund £ £ £ £ 11,623 £ 127,934 £ 26,265 £ 2,433 £ 31,475 £ 6,528 £ 14,057 £ 159,409 £ 32,793 2021 Poor's Burrough's Land Almshouses £ £ £ - £ - £ - £ - £ - £ - 2021 Poor's Burrough's Land Almshouses £ £ £ 2,727 £ 15,339 £ 4,280 £ 2,727 £ 19,619 2021 Poor's Burrough's Land Almshouses £ £ £ - £ - £ - £ - £ - £ - 3 |
Other unrestricted £ £ 1,035 £ 235 £ 1,270 2020 Poor's Land £ £ - £ - £ - 2020 Poor's Land £ £ 916 £ 916 2020 Poor's Land £ £ - £ - £ - |
Total £ £ 33,016 £ 6,912 £ 39,928 TOTAL £ £ 166,858 £ - £ 40,672 £ 207,529 Burrough's Almshouses £ £ - £ - £ - Burrough's Almshouses £ £ 38,971 £ 4,275 £ 43,246 Burrough's Almshouses £ £ - £ - £ - |
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