REGISTERED CllARITY NUMBER: 218538
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
PILTON UNITED CHARITY

PILTON UNITED CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
P4ge
Report ofthe Tn￿¢¢¢3
I to 4
lttdepettdeni Etsmitterls Re￿rt
Statement of Financial Activities
Balance Sheet
Notes lo th¢ FlnaD¢lal Stst¢ty¢tsts
8 to 15
Detailed Statement of Financial Activities
16 to 17

PILTON UNITED CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The tThstees present their report with the financial ststements of the charity for the y¢ar ended
31 D¢cemb¢r 2024. The truste¢s have adopted the provisions of A¢counting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their ￿0￿nts in accordance with th¢
Financial Reporting Standard applicable in the UK aDd Republic of Ir¢land (FRS 102} (effective l January
2019).
OBJECTIVES AND ACTMTIES
Objectives and alms
The charity's objects are..
l. To provide and maintain ho￿81ng for poor persons from the ancient parish of Pilton.
2. To provide relief for residents in need from the ancient parish of Pilton.
3. To provide any other charitsble purpose to benefit the inhabitants of the ancicllt parish of Pilton.
Public benefit
It is felt that th¢ Charity h&s and will Continue to contribute a great deal to the community in the Parish of
Pilton. Devon (as set out in the Constitution (dated 28 March 1994) by providing subsidised housing for the
poor plus other benefits as mentioned below. All aims and objectives are of a charitable nature and comply
with Section 4 of the Charities Act 2006. Public BenefIt has been achieved by the Charity from the
following metho(Ls:.
Providing and maintaining 24 units of Almshouse a¢wmmodation for elderly people (or couples) to
live independent lives.
Providing an em¢rgency alarni system to elderly Almshouse residents.
Employing a part-time warden to give the Abnshouse residents someone to turn to in c&ses of need
an(Vor emergency.
Providing events and outings to the Altnshouse residents to give an element of personal interaction
and to enhance their wellbein&
Providing and maintaining 2 units of Almshouse &ccommodation for families.
Providing and maintsinirkg 16 units of "affordable" rented accommodation. These are properties.
which have been endowed to (or built by) the Clwity over the year4 and are let at below current
market rental values.
Provtding grants (and otheT SIUDS) to persons {or groups of person5) whose "need" may not be
covered by statutory or local authority ￿ndin
Providing a small "pension allowance" to 3 "w)or" person& who are communicant members of the
Church of Englan(t as set out in "The Hospxtai Clwity" section of the Constitution.
The trust¢¢s are ¢xp¢¢t¢d to "declare an interest and withdraw from voting" in any eVentItr￿￿tIQ￿ tha¢
pres¢nts a eonflict of personAI involvement andlor interest. The aims and governing document of the
Charity ar¢ revi¢w¢d regularly to avoid "mission drift".
The trustees believe that this statement sets out their compliance for Public Ben¢fit under Section 4 of the
Charities Act 2006.
Page I

PILTON UNITED CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENT AND PERFORMANCE
Financial results
The attaohcd financial statements show the current state of th¢ fuwKes which th¢ tsustees consider to be
sound. The charity received rents of £237.134 (2023 £220,192) during the year and after paying £144,239
(2023 £167,961) for generdl maintenance on the prO￿rtieS and £53,517 (2023 £40262) on other expenses
it produced a profit from renting of £39,378 (2023 £11.969).
The charity received £5.320 (2023 £3.159) from investments. They also received donations and ￿ants
amounting to £30 (2023 £8).
Office equipment was acquired at a cost of £1,885 and depreciated by £283. The d¢preciation charge ts
included in rental support Costs.
The shares incre&sed in value by £36.947 (2023.. £26.193) in accordance with the changes of values in the
Stock Market.
Following consultation in 2023 with a local estate agent the approximate market valuation of the properties
was set at £7,545,000. This valuation is unchanged from 2023.
Overall, there wa5 a net surplus for the y¢aT of £81,675 compared to a net deficit in the previo￿% year of
£9.831.344.
The net result is that the clwity bas £8.220.190 (2023 £8.138.515) of assets and fimds as at 31 December
2024.
FtNANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain tts bank balance in credit and to transfer funds lo and from its
deposit accountslinvestments when prndent. This provides sufficient fimds to cover management and
administration and support costs and to respond to emergency repairs which arise from tim¢ to time. The
trustees operate a policy of upgrading their properties whenever appropriate. However. the trustees are also
aware that its historic houscs will in thc futurc bc in nced of considernble rcgular maintenance and as su¢h
have built-up th¢ir holding in ¢harity inv¢strn¢nts, including £80.0(K> into a CCLA deposit fun& over the
years to safeguard the charity's fitture.
During the year the charity gdve grants of £l,01)O to local deserving causes.
Due lo extra Workload the charity h&8 aprM)inted an ￿lstant clerk.
The ¢harity is aware that 5ignificatrt expenditwe is needed OD the r￿)fS of Feoffee Cottages and Lower
Altnshouses.
rRucfuRE, GOVERNANCE AND MANAGEME
Governing document
The charity is ¢ontroll¢d by its governing documenL a deed of tr￿st and constitutes an unincoTtrf)rated
Charity.
Pag¢ 2

PILTON UNITED CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisalional structure
The trustees consist. when complete. of 15 comwent persons and include the Viw, the Churchwarden and
Deputy Chur¢hwarden of St. Mary the ViTgiJ4 Pilton. There are 4 nominated trustees who s¢rv¢ for 4 years
and are appointed by North Devon District Council {1). Barnstaple Town Council (2) and Pilton West
Parish Council (l). Th¢r¢ are 8 co-OPt¢d trust¢¢s who serve for 5 y¢ars and are aptK>int¢d by th¢ board of
trustees. The trusttts hold at le&st four ordinary meetings in a year at which at least 6 tnLStees rn￿t be
present.
The charity includes the ¢hartty of John Exter. the charity of Katherine Graham. the charity of Thomas
Harditig, the Parish Lands charity. the charity of Jobn Rogers and St. Margarets Hospital charity.
Risk man8gement
Th¢ trustees have examined the Tnajor strategie. business and operntional risks which the charity faces and
confirni thal systems have been established to enable regular reports to be produced so that the necessary
sfrps can b¢ taken to lessen these risks.
REFERENCE AND ADI￿NISTRATIvE DETAll
Registered Charity number
218538
Prlnclpal address
Little Orchard
Braunton Road
BARNSTAPLE
Devon
EX31 IGA
Trustees
Miss J Coates (Chairperson)
Mr J Phillips - Resigned 2 Septernber 2024
Mrs V Elkins
Mr M Crooks
Mr R Howe - Resigned 15 November 2024
Mr F V Clarke
Mr M Willcox
Ms D Sibley- Resi￿ed l O September 2024
Rev M Tyrrell
Mr P Manley
Mr C Tippet- Resiglled 6 Nov¢mb¢r 2024
Mr W Sandet3
Mr l Brodie
Ms J Hunt
Page 3

PILTON UNITED CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Paul Honeywill
Si¢v¢ns & Will¢y
Chartered Certified A¢¢ountants
Grenville House
9 Boutport Street
Barnstspl¢
Devon
EX31 ITZ
Approved by Ord￿ of the Fx)ard of trustees oll ...
i.i.....o3 2025
. and signed on its behalf by:
Miss J Coat¢s- Tn￿te¢
Page 4

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF
PILTON UNITED CHARITY
Independent eumiller'5 report to the tn18¢ee8 of Pihon United Charity
I report to the charity truste¢s on my examinatTon of the accounts of Pilton United Charity (the Tnjst) for the
year ended 31 D¢¢¢mb¢r 2024.
Respomsibllities and b￿18 of report
As the charity lrnstees of the TTh￿t you are reswnsible for the pffparation of the a￿oUnts in accordance with
th¢ requirements of the Charities Act 20] I Cthe Acv).
I report in respect of my examination of the Tn￿S acLounts carried out und¢r ￿tIOn 145 of the Act and in
rying out my examination I bave followed aIl applithle Directions given by the Charity Commission
under Section 145{5Xb) of the Act.
Independenl e￿MIner'S ststem¢n¢
I have completed my examination. I confimi that no material mattet3 have come to my attention in
onn¢ction with the examination gtving me cause to believe that in any material respe¢t:
accounting records were not kept in respect of th¢ T￿￿ ￿ required by S¢¢tion 130 of the ACL or
the accounts do not accord with those re£ords' or
the accounts do not comply wtth the appli(able requirements concerning the forni and wntent of
accounts set out in the Chartties (Accounts and Reports) Regulations 2008 other than any requirement
that th¢ a¢¢ounts give a true and fair view which is not a matter considered as part of an independe
examination.
I hav¢ no concerns and hav¢ Come ￿rosS no other matters in colln¢rtiOD with the examination to which
attention should be drawn in this rep)rt in order to enable a proper understanding of the accounts to be
reached.
Paul
Stevens
illey
Chartered Certified Accountants
Grenville House
9 Boutport Street
Barnstaple
EX31 ITZ
I l Mar¢h 2025

PILTON UNITED CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Totsl
funds
2023
Total
funds
Unrestricted Restricted
fund
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Subsidised housing
237.134
237,134
220,192
tnvestment income
5J20
5J20
3,159
Total
242,484
242,484
223.359
Charitsble activities
Subsidised housing
197,756
197,756
208.223
Net gains on investtnents
36,947
36,947
26,193
NET INCOME
Other re¢ogDised gainslOosse5)
Gainsl(losses) on r¢valu8tion of fjxed ￿ets
44,728
36,947
81,675
41,329
(9.872,673)
Iyet movement in fuDd5
44,728
36947
81,67S
(9,831,344)
RECONCILIATION OF FUNDS
Total fimds brought forward
574,994
7J63J2J
8,138515
17,909.859
TOTAL FUNDS CARRIED FORWARD
619,722
7,61)0.468 8220,190
8,138.515
The notes ott page O fonD part of these financi￿ statemellts
P8ge 6

PILTON UNITED CHARITY
BALANCE SHEET
31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
Unrestricted R¢stri¢t¢d
fimd
funLts
Notes
FIXED ASSETS
Tangible &ssets
Investments
439280
41,960
7.107J22
493,146
7￿46,602
535,106
7.545,000
498,159
481240 7.6(N).468
8.081,708
8,043.159
CURRENT ASSETS
CL8h at bank
155,138
155,138
111,702
CREDITORS
Amounts falling due within one year
(16,656)
(16,656)
(16.346)
NET CURRENT ASSETS
13&4S2
138.482
95.356
TOTAL ASSETS LESS CURRENT
LIABILITIES
619,722
7,600,468
8220,190
,138.515
NET ASSETS
619,722
7,600,468
8220,190
8.138.515
FUNDS
Unrestricted fijnds
Restricted funds
619,722
7,600,468
574,994
7,563,521
TOTAL FUNDS
8220,19)
8,l38,515
The financial statements were approved by the Board of Trustees and authorised for issue on
L.L.. C).S.:Wa.
. and were Si￿ed on its behalf by:
Miss J Coates - Trustee
The notes on page O forn) part of these fmancial statettw
Page 7

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
AccouNfING POLICIES
Basi% of preparing the fillaD¢ial ststements
The financial statements of the charity, which is a publi¢ benefit entit), under FRS 102. have be¢n
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and ReportTng by Charilies:
Statement of Recommended Practice applicable to Charities preparing their accounts in ac¢ordan¢¢
with the Financial Re￿rtIng Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019),. Financial Reporting Standard 102 'The FitwicÉal Reporting Standard
applicable ID the UK and Republic of Ireland, and the Charities Act 2011. The financial statements
have been prepared under the historical cost conventioo with the exception of investments which are
in¢luded at maTket value. modified by the Tevaluation of certain assets.
Illcome
All income is recognised in the Statement of Finan¢ial Activities once the elwity h&s entitlement to
the fund. The charity records statutory rents received and weekly maintenance contributions received
from tenants as rents received throughout these fmancial statements
Expenditure
Liabilities are recognised &8 expenditure &s soon &8 there is a legdl or ￿nStrUCtive obligation
ci)mmitting the charity to that expenditure. it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
a¢counted for on an accruals basis and h&% been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly altributed to parti¢ular headings they have
been aElocated to activities on a basis consistent with the use of T¢sour¢¢s.
Freehold properties
The ¢harity owns 42 properties of which 34 were con5tru¢ted before 1900 and there is no record of
their original cost. The other 8 properties were constrncted in the year ended 31 December 1988 and
have b¢en included at cost less the social landlord5 grant. However, in order for the balance sheet to
give a fairer refl¢¢tion of the value of the properties they have been revalued to th¢ir probabl¢ open
market value (obtain¢d with the assistance of a local estatelland agent). The previous insuran¢¢
valuc, including r¢build ¢osts. WLS considered excessive and did not reflect th¢ true w>sition. As the
properties are maintained in a state of repair such that their estimated retsil value is not less than
their carrying amount, the annual charge for depr¢ciation would be nil. This charity is deemed to
have pem]an¢nt endowment.
Taxation
The clwity is exempi from tsx on its ¢haTitable activities.
Fund
Unrestricted funds can be used in a￿ordanCe with the clwilable objeclives at the dis¢retion of the
ste¢s.
Restricted funds can only be used for particular restri¢i¢d purp)ses within the objects of the Charity.
Restrictions arise when s￿lfied by the donor or when fimds are raised for particular restricted
purpos¢s.
Further explanation of the nature and PUTwse of each fimd is included in the notes to the fmancial
statements.
Page 8
¢ontÉnu¢d...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES- continued
Social landlords grnnt
The social landloTds grallt paid by thc housing corporation to reduce the cost of development and
is, therefore, shown as a deduction from the Cost of housing properties on the balance sheet. It is
repayable under certain ctr¢umstanc¢s, primarily following the salc of a property but will nornially
restricted to net proceeds of sale.
INVESTMENf INCOME
2024
2023
Dividends received
Bank int¢rest
2977
2J43
2,798
361
SJ20
3.159
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for
the year ended 31 December 2023.
Trustees, expeny
There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended
31 December 2023.
STAFF COSTS
The ¢moluments to the Clerk to the Trnstees was £7.704 (2023.. £7.542) and Assistant Clerk £9,570
{2023= £nil).
The only other employee during the year was the Warden who received £5.768 (2023: £3,220) with
employers Nl of £588 (2023.. £13)-
Page 9
continued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
TAY4GIBLE FIXED ASSETS
Freehold
propety
Office
Equipment
Totals
COST
At l January 2024
Additions
7¥5,IN)O
1,885
1,885
At 31 Decembcr 2024
7J45,1
1,885
7¥0,885
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 December 2024
7345,1)00
1,602
7046,602
At 31 December 2023
7,545.000
7.545,0(M)
The properties are valued at the approximate market value. The valuation was carried ot by Mr J
Traynar Director of Phillips. Smith & Dunn Barnstaple.
Of the 42 prop¢rtie5 owned by the charity, 8 were built by 31 December 1998 at a Cost of £267,464.
social landlords grant of £186.802 was received at that time. Further improvement costs of
£309,604 have been in¢urr¢d since 31 December 2000.
The remaining properties pre-dafr 1900. No costs of acquisition are know
FIXED ASSET INVESTMENrs
Listed
invcstmcnts
MARKET VALUE
At l January 2024
R¢valuations
498,159
36,947
Ai 31 De¢¢tnber 2024
535,106
NET BOOK VALUE
At 31 December 2024
535,106
At 31 December 2023
498,159
There were no investtnenl &ssets outside the UK.
Page 10
continued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 DECEMBER 2024
FIXED ASSET INVESTMENfs- coDtiDued
Listed investments comprise the following:
2024
2023
In¢ome producing shares
500 Charifunds in¢om¢ units at year end market value
62,392 NAACIF income shares at year end market value
7?62
57,918
7,175
56,040
65280
63,215
Accumulation shar¢s
3,881 NAACIF a¢cutnulation shares at year end market value
469826
434,944
469,826
434,944
Total UK quoted shares
535,106
498,159
CASH AT BANK
2024
Total
funds
2023
Total
fimds
Current accouTrt
Deposit account
CCLA account
19,517
55,621
44.456
67,246
Totsl
155,138
111.702
Page 11
contitiued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
16,656
16,346
MOVEMENf IN FUNDS
Nct
movement
in funds
At
31112124
At Iiir24
Unrestricted ￿lldS
General fund
574,994
44,728
619,722
Rest]l¢ted funds
Emergency Repair Fund
Unrealised Gains on Revaluation
Reserye
434,944
34082
469026
7.128￿77
2,06S
7,130,642
7363￿21
36,947
7,6￿,468
TOTAL FUNDS
8.138515
81,675
8220,190
Net movement in fimds, included in the a￿ve are as follows:
Incoming
resource5
Resources
expended
Gains and Movement
losses
in fvnds
UDre5tri¢t¢d fund$
GeneTal fund
242,484
(197.756)
44,728
Restricted funds
Emergency Repair Fund
Unrealised Gains on Revaluation
Reserve
34,882
34,882
2,065
2,065
36,947
36,947
TOTAL FUNDS
242,484
(197,756)
36,947
81,675
Pag¢ 12
¢ontinued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
MOVEMENT IN FUNDS- continued
Compgrgtives for movement in funds
Net
movement
in funds
Ai
31112123
At 111123
Unres¢ri¢¢ed fund$
General fund
559.858
15.136
574.994
Resirlded funds
Emergency Repair Fund
UDrealised Gains on Revaluation
Res¢rve
409,520
25.424
434.944
17.000,481 (9,871,904)
7,128,577
17,410,001
(9.846.480) 7,563,521
TOTAL FUNDS
17,969.859 (9,831.344)
8,138,515
Cortlparative net movement in fund& iticludeAJ in the aknve are as follows:
Incoming
our¢es
Resources
expended
Gains and Movement
losses
in funds
Ullrestrieted funds
General fund
223J59
(208,223)
15.136
Reslricied funds
Emergency Repair Fund
Unrcalis¢d Gain5 on Revaluation
Res¢rv¢
25.424
25.424
(9,871,904) (9,871.904)
(9.846,480) (9.846.480)
TOTAL FUNDS
223,359
(208223) (9.846,480) (9,831.344)
Page 13
conlinued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
MOVEME￿[ IN FUiYDS- wlltinued
A cu￿¢llt year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31112124
At 111123
Unrestrieted funds
General fund
559.858
59.864
619.722
Rtstritted fullds
Emerg¢n¢y Repair Fund
Unrealised Gains on Revaluation
R¢serYe
409.520
60.306
469.826
17.000,481
(9.869.839)
7.130.642
17.410.001
(9,809.533) 7.600,468
TOTAL FUNDS
17.969,859
(9.749,669)
8,220,190
A current year 12 months and prior year 12 months combiDed net movement in funds, included in the
above are &s follows:
Incoming
Tesources
Resources
expended
Gains and Movement
losses
in funds
Unrestrieted funds
Generdl fund
465.843
{405,979)
59.864
Restricted funds
Emerg¢n¢y Repair Fund
UnTealised Gains on Revaluation
Res￿¥¢
60.306
60,306
{9.869,839) (9.869,839)
(9,809,533) (9,809,533)
TOTAL FUNDS
465.843
(405.979) (9,809,533) (9,749,669)
Pag¢ 14
continued...

PILTON UNITED CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
10. RELATED PARTY DISCLOSURES
There were no rclatcd party transactions for the year ended 31 Decemkr 2024.
Page 15