**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| |---|---|---| 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| |---|---|---| 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
£
£ -
£ -
£ -| |---|---|---|---|