THE EIGHT MEN OF BROADCLYST
ACCOUNTS AND REPORT
FOR THE YEAR ENDED
31 MARCH 2025
THE EIGHT MEN OF BROADCLYST
CONTENTS
Reference and administration details
Trustees' report
Independent examiner's reports
Receipts and payments account for the year ended 31 March 2025 Statement of assets and liabilities as at 31 March 2025
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 Henry F Gent David Ackland Adrian Pitts Kelvin Grabham Ed Rhodes Steven Hammet (appointed 24[th] July 2023)
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 2025.
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 accommodation units.
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 in the period.
THE EIGHT MEN OF BROADCLYST
Financial review
Results for the year
The land rents and dividends received by the Poor's Land charity in the year enable it to pay grants of £2,280 and this was to be donated equally to Clyst Caring Charity, Broadclyst in Need and to The Broadclyst Food Bank.
The Burrough's Almshouses deficit for the year was £35,600 which occurred as result of refurbishing Number 7 at the end of the previous year. Funds of £35,000 were realised from the extraordinary repair fund.
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 and cash deposits have decreased in value in line with expenditure of the refurbishment and the fluctuating performance of investments. Overall they have decreased by approximately £36,000 in the year mainly attributable to the refurbishment.
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. There were works undertaken in the summer of 2023 with regards to the guttering, redecorating, and re-mortaring with lime cement. In the autumn of 2023, we have embarked on the refurbishment of the No. 7 Unit and have now been completed. The costs of these works were taken from our cyclical and extraordinary repair funds.
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
28[th] July 2025
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the trustees Burrough's Almshouses On accounts for the year ended 31" March 2025 Charity no (if any) 206249 Set out on pages 1&2 I report to the trustees on my examination of the accounts of the above harily I'the Trust") for the year ended 31. Mar¢h 2025. Responsibilities and basis of report As the charity's trustees. you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Acl 2011 {llhe Act"). I report in respect of my examination of the Trust's accounts carried out under seclion 145 of the 2011 A¢t and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515)Ibl of the Act. Independent I have completed my examination. I confim that no material matters have examiner's statement come to my attention in connection with the examination which gives me ause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charilies Act.. or the accounls did not accord wrth the accounting records", or the accounts did not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities {Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a Irue and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connedion with Ihe examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: 28th July 2025 Name: Kay Smith MCIB MP Dip Relevant professional qualificationlsl or body (if any): Chartered InstitLrte of Book-keepers Address- Unit 7a Hanbury Buildings Newton Abbot IER Oct 2018
Devon . TQ12 1LZ Section 8 Disclosure Only complete If the examiner needs lo highlight material matters of conrn Isee CC32, Independent examinalion of charity accounts- directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018
THE EIGHT MEN OF BROADCLYST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 March 2025
| Receipts Almshouse rents Land rents Dividends Interest Sale of investments Total income receipts Charitable payments Grants paid Broadclyst In Need Fund Broadclyst Food Bank 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 and receipts 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 31.03.2025 Poor's Land Burroughs Almshouses Total £ 21,162 £ 21,162 £ 1,036 £ 1,036 £ 1,244 £ 2,203 £ 3,447 £ - £ - £ 35,000 £ 35,000 £ 2,280 £ 58,366 £ 60,646 £ - £ - £ - £ - £ - £ - £ - £ - £ - £ 505 £ 505 £ 2,289 £ 2,289 £ 52,524 £ 52,524 £ - £ - £ 1,106 £ 1,106 £ - £ - £ 275 £ 275 £ 142 £ 142 £ - £ 325 £ 325 £ - £ 57,166 £ 57,166 £ - £ 1,800 £ 1,800 £ - £ 1,800 £ 1,800 £ - £ 58,966 £ 58,966 £ - £ - £ - £ 58,966 £ 58,966 £ 2,280 -£ 600 £ 1,680 £ 5,902 £ 19,695 £ 25,598 £ 8,182 £ 19,095 £ 27,278 |
Year to 31.03.2024 Poor's Land Burroughs Almshouses Total £ 17,553 £ 17,553 £ 1,039 £ 1,039 £ 1,213 £ 2,293 £ 3,506 £ 193 £ 193 £ 45,614 £ 45,614 £ 2,252 £ 65,652 £ 67,905 £ 731 £ 731 £ 731 £ 731 £ 731 £ 731 £ 2,192 £ - £ 2,192 £ 642 £ 642 £ 1,517 £ 1,517 £ 111,702 £ 111,702 £ 235 £ 235 £ 1,085 £ 1,085 £ - £ - £ 267 £ 267 £ 1,530 £ 1,530 £ - £ 240 £ 240 £ - £ 117,218 £ 117,218 £ - £ - £ - £ - £ - £ 2,192 £ 117,218 £ 119,410 £ - £ - £ 2,192 £ 117,218 £ 119,410 £ 60 -£ 51,566 -£ 51,505 £ 5,842 £ 71,261 £ 77,103 £ 5,902 £ 19,695 £ 25,598 |
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THE EIGHT MEN OF BROADCLYST STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2025
FOR THE YEAR ENDED 31 March 2024
| Notes Poor's Land Burroughs Almshouses Total 2025 Fixed assets Almshouses 1 £ - Cost/valuation not available Investments at valuations 2 £ 43,390 £ 164,364 £ 207,754 Current assets Charitable Bank Accounts 3 £ 8,182 £ 19,095 £ 27,278 NET ASSETS £ 51,572 £ 183,460 £ 235,032 Fund balances Perpetual endowment £ 43,390 £ - £ 43,390 Designated funds: Property extraordinary repair £ 129,173 £ 129,173 Cyclical maintenance £ 33,815 £ 33,815 Other unrestricted funds £ 8,182 £ 20,472 £ 28,654 FUNDS £ 51,572 £ 183,460 £ 235,032 |
Poor's Land Burroughs Almshouses Total 2024 £ - Cost/valuation not available £ 45,511 £ 201,156 £ 246,667 £ 5,902 £ 19,695 £ 25,598 £ 51,413 £ 220,852 £ 272,265 £ 45,511 £ - £ 45,511 £ 167,383 £ 167,383 £ 32,429 £ 32,429 £ 5,902 £ 21,040 £ 26,942 £ 51,413 £ 220,852 £ 272,265 |
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THE EIGHT MEN OF BROADCLYST NOTES TO THE STATEMENTS
FOR TFIXED 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 2 years to 31st March 2025, major refurbishments to the properties were undertaken including updating Numbe including refurbishing Number 7.
2 INVESTMENTS
Poor's Land
| 15.4 acres of Land Other investments Market Values at 1 April 2023 Net Gains on revaluation at year end Market Values at 1 April 2024 Burrough's Almshouses Market Values at 1 April 2024 Transfers Net Gains on revaluation at year end Market Values at 1 April 2025 |
Perpetual Endowment £ 15.4 acres of Land £ 45,511 -£ 2,120 £ 43,390 Perpetual Property Property Other Endowment Extraordinary Cyclical unrestricted Repair Maint. Fund Fund £ £ £ £ £ - £ 167,383 £ 32,429 £ 1,345 £ - -£ 35,000 £ - £ - £ - -£ 3,210 £ 1,386 £ 32 £ - £ 129,173 £ 33,815 £ 1,377 |
TOTAL £ £ 45,511 -£ 2,120 £ 43,390 Total £ £ 201,156 -£ 35,000 -£ 1,792 £ 164,364 |
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3 CASH AT BANK AND ON DEPOSIT
| Lloyds Bank plc COIF deposit Account |
2025 Poor's Burrough's Land Almshouses £ £ 8,182 £ 27,278 £ - £ 8,182 £ 27,278 |
2024 Poor's Burrough's Land Almshouses £ £ 5,902 £ 25,598 £ - £ 5,902 £ 25,598 |
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