## **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 con￿rn 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| |---|---|---| ## **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| |---|---| **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| |---|---|---| ## 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| |---|---|---|