Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
CHARITY REGISTRATION NUMBER: 230855
Brandon Poor's Estate
Unaudited financial statements
31 March 2025
Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Financial statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustee's annual report | 1 |
| Independent examiner's report to the trustees of Brandon Poor's Estate | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Trustee's annual report (continued)
Year ended 31 March 2025
The trustee presents his report and the unaudited financial statements of the charity for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Reference and administrative details
Registered charity name Brandon Poor's Estate Charity registration number 230855 Principal office 3a Hall Close Coulson Lane Brandon IP27 0HU
The trustee
The trustees who served during the year and at the date of approval were as follows:
The current trustees are: Co-optative A Challiss (Appointed 26/07/2025) E Hunns J Prior J Reddin B Sparks (Appointed 26/07/2025) J Brabbs (Resigned 08/07/2025) Nominative L Challiss (Chair, appointed 13/02/2025) S Skinner (Appointed 20/03/2025) Ex officio The Reverend D Coburn (Appointed 21/05/2024) Residents' representative A Day The trustees were assisted in the charity administration by a clerk, P Etherington. Bankers Barclays Bank Plc Leicester LE87 2BB Land agent Lacey Scott & Knight 10 Risbygate Street Bury St Edmunds Suffolk IP33 3AA Independent examiner A Robinson FCA Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Trustee's annual report (continued)
Year ended 31 March 2025
Objectives and activities
The net income of the Poor's Estate and of Stephen Ashwell's Charity is to be applied for the benefit of almshouse residents of the Poor's Estate. In accordance with a Charity Commission Scheme dated 26 April 2002 these are poor single persons, normally residents of the Parish of Brandon when appointed with preference being given to poor widows.
The net income of the Ann Curtis Charity is to be used to make grants of money or to provide or pay for items, services or facilities calculated to reduce the need, hardship or distress of persons resident in the Parish of Brandon, either generally or individually. The net income of the Hunt and Wilder Charity is to be applied for the relief of poor widows resident in the Parish of Brandon either in gifts in kind or in grants of money.
The Trustees may also provide almshouse residents with any necessary attendance in case of serious illness or permanent infirmity.
The Trustees are responsible for the management of the risks faced by the Estate. The Key control is the close involvement of the Trustees in the day to day running of the estate. The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
The Charity's Policies, in line with those recommended by The Almshouse Association are now in place and were approved at the Trustees' meeting on 23 September 2024.
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commissions guidance on public benefit when setting the objectives for the year.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011.
Achievements and performance
During the year the Trustees have continued to meet the objectives of the charities by offering residential accommodation at the seven almshouses owned by Brandon Poor's Estate in Hall Close, Coulson Lane, Brandon, for qualifying almshouse residents. Services provided include heating, an alarm system, external window cleaning and communal grounds maintenance.
The almshouse residents pay weekly contributions for maintenance and for heating, the maintenance charge rates vary for single occupancy dwellings or double occupancy dwellings and was increased in April. WMC is paid calendar monthly on 27th of the month. All dwellings are unfurnished. Otherwise the charities' income arises from investments and land leases.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Trustee's annual report (continued)
Year ended 31 March 2025
Financial review
The results for the year are set out in the statement of financial activities. The income of the charity remained consistent at £26,893 (2024: £26,453), which after deducting charitable activity costs created a net income before revaluation of £3,732 (2024: £8,082). Other recognised losses on investments in the year amounted to £6,885 (2024: gains of £53,088) which when combined with the net income before revaluation, resulted in a net deficit of £3,153 (2024: surplus of £61,170) for the year.
The valuation movement represents the majority of the overall movement in the year, which in the context of the current economic climate, is considered by the trustees to be in line with expectations.
Reserves
Total unrestricted funds at 31 March 2025 amounted to £483,610 (2024: £487,710) of which £408,459 (2024: £416,291) is designated in respect of the Charitable Fund property reserve, extraordinary repair reserve and the cyclical repair and maintenance reserve. The free reserves at 31 March 2025 amounted to £75,151 (2024: £71,419).
The designated funds are available to meet unforeseen costs for maintenance and major refurbishment and is reviewed annually.
The Trustees consider that the unrestricted funds are sufficient to meet the day to day needs of the Charity.
The adequacy of the reserves policy is reviewed annually.
Investment policy
The Trustees will take into consideration the social, environmental and ethical stance of all investments it makes.
Specific investment powers
The Trustees are empowered by the Charity Commission Scheme to let the Estate's lands not required to be retained or occupied for its purposes. The RSPB rents our Wash Lands adjacent to their Lakenheath Reserve, the agreement expires in October 2028 and the Grazing Agreement for 8 Acre Piece in Brandon, first entered into in September 2020, has been renewed for a further 12 months from January 2025.
Plans for future periods
The charity expects income and expenses to be relatively stable over the next twelve months and will look to continue to maintain a high standard of repair of the almshouses in line with the objectives of the charity. The charity aims to increase the returns on investments for the foreseeable future, to supplement foreseen expense and repair costs and to maximise the longevity of the charity. Trustees have increased the Weekly Maintenance Charge annually since 2021 and will continue to increase in line with government restrictions.
Trustees have commenced discussions to decide on how the Charity will manage work to upgrade the almshouses' Energy Performance Certificates in order to conform to the upcoming regulations, which have been put back to 2030 The almshouses are currently rated D and will need to achieve C or above. It is estimated that the cost could be approximately £25,500 per property.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Trustee's annual report (continued)
Year ended 31 March 2025
Structure, governance and management
Brandon Poor's Estate comprises a number of registered charities, as follows:
-
The Poor's Estate
-
The Charity of Ann Curtis
-
The Charity of Stephen Ashwell
-
The Hunt and Wilder Charity
The purposes and administration of the Estate are regulated by a Charity Commission Scheme dated 9 August 1961, as amended dated 26 April 2002 and 22 January 2020.
The registered number for charities 1-3 is 230855. Charity 4 is commonly referred to as the JH Hunt and Ann Wilder Charity and is administered together with the other three, but has a separate registration number, 239975.
The Poor's Estate is also commonly referred to as the Humphrey Hall and Wash Charities.
Brandon Poor's Estate is registered as a Registered Social Landlord with the Homes England, registration number A0644.
Appointment, induction and training of trustees
Trustees are appointed at the Annual General Meeting or by resolution of the Board of Trustees. The number of Trustees shall not be less than the constitution without seeking approval from the Charity Commission or unless otherwise determined by an ordinary resolution of the Annual General Meeting. It is the policy of the charity to appoint new Trustees by personal invitation given knowledge of their skills and background.
Entitlement to appoint Trustees, and the methods provided for such appointments, are as follows:
Ex-officio trustee:
By virtue of holding the appointment of Rector of Brandon.
Entitlement to appoint Trustees, and the methods provided for such appointments, are as follows:
Nominative trustees (2):
On a vacancy occurring, the Trustees are to notify the Parish Council of Brandon (now Brandon Town Council). The Council decided at an ordinary meeting who is to fill the vacancy, and notified the Trustees. The duration of the appointment is 4 years.
Co-optative trustees (5):
Selected by the Trustees, and appointed by them at a special meeting for a term of 5 years. Those eligible are persons residing or carrying on business in or near Brandon.
No one may act as Trustee before signing in the Minute Book a declaration of acceptance of office and of willingness to act.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Trustee's annual report (continued)
Year ended 31 March 2025
Appointment, Induction and Training of Trustees
Trustees are appointed at the Annual General Meeting or by resolution of the Board of Trustees. The number of Trustees shall not be less than the constitution without seeking approval from the Charity Commission or unless otherwise determined by an ordinary resolution of the Annual General Meeting. It is the policy of the charity to appoint new Trustees by personal invitation given knowledge of their skills and background.
Risk management
Management has reviewed the major risks to which the charity is exposed. Where appropriate systems or procedures have been established to mitigate the risks the charity faces. As is the case for many charities, external funding represents a risk to the stability of the charity.
True and fair override
The financial statements have been prepared to give a "true and fair" view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and faiF" \/iew. This departure has invoI\led following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the U.k and Republic of Ireland issued in October 2919 rather than the Accounting and Reporting by Charities: Statement of ReGommended Practice from 1 April 2005 which has since been withdrawn.
Independent examiner reappointment
A resolution to appoint A Robinson FCA of Lovewell Blake LLP as independent examiner will be proposed at the next Annual General Meeting.
10/10/2025 The trustee's annual report was approved on .............................. and signed on behalf of the board of trustees by:
L Challiss Chairman
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Independent examiner's report to the trustees of Brandon Poor's Estate
Year ended 31 March 2025
I report to the charity trustee on my examination of the financial statements of the charity for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet and the related notes.
Responsibilities and basis of report
As the charity's trustee you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
A Robinson FCA Independent Examiner
Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA 10/10/2025
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Statement of financial activities
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Endowment | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income | |||||
| Income from charitable activities | 4 | 25,041 | – | 25,041 | 24,424 |
| Investment income | 5 | 1,852 | – | 1,852 | 2,029 |
| -------------------------- | ------------- | -------------------------- | -------------------------- | ||
| Total income | 26,893 | – | 26,893 | 26,453 | |
| ========================== | ============= | ========================== | ========================== | ||
| Expenditure | |||||
| Charitable activities | 6 | 23,161 | – | 23,161 | 18,371 |
| -------------------------- | ------------- | -------------------------- | -------------------------- | ||
| Total expenditure | 23,161 | – | 23,161 | 18,371 | |
| ========================== | ============= | ========================== | ========================== | ||
| Net income before transfer of funds | 3,732 | – | 3,732 | 8,082 | |
| Other recognised gains and losses | |||||
| Endowment (losses)/gains from revaluation of | |||||
| investments | – | 947 | 947 | 1,913 | |
| Unrestricted (losses)/gains from revaluation of | |||||
| investments | (7,832) | – | (7,832) | 51,175 | |
| -------------------------- | ------------- | -------------------------- | -------------------------- | ||
| Net movement in funds | (4,100) | 947 | (3,153) | 61,170 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 487,710 | 58,789 | 546,499 | 485,329 | |
| ------------------------------- | -------------------------- | ------------------------------- | ------------------------------- | ||
| Total funds carried forward | 483,610 | 59,736 | 543,346 | 546,499 | |
| =============================== | ========================== | =============================== | =============================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Balance sheet
31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 10 | 26,462 | 26,987 | ||
| Investments | 11 | 456,636 | 463,521 | ||
| ------------------------------- | ------------------------------- | ||||
| 483,098 | 490,508 | ||||
| Current assets | |||||
| Debtors | 12 | 563 | 764 | ||
| Cash at bank and in hand | 62,652 | 58,342 | |||
| -------------------------- | -------------------------- | ||||
| 63,215 | 59,106 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 13 | (2,967) | (3,115) | ||
| -------------------------- | -------------------------- | ||||
| Net current assets | 60,248 | 55,991 | |||
| ------------------------------- | ------------------------------- | ||||
| Total assets less current liabilities | 543,346 | 546,499 | |||
| ------------------------------- | ------------------------------- | ||||
| Net assets | 543,346 | 546,499 | |||
| =============================== | =============================== | ||||
| Funds of the charity | |||||
| Endowment funds | 59,736 | 58,789 | |||
| Unrestricted funds | 483,610 | 487,710 | |||
| ------------------------------- | ------------------------------- | ||||
| Total charity funds | 15 | 543,346 =============================== |
546,499 =============================== |
These financial statements were approved by the board of trustees and authorised for issue on 10/10/2025 ........................, and are signed on behalf of the board by:
L Challiss Chairman
The notes on pages 9 to 16 form part of these financial statements.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements
Year ended 31 March 2025
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 3a Hall Close, Coulson Lane, Brandon, Suffolk, IP27 0HU.
The accounts deal with Brandon Poor's Estate group of charities, incorporating the following:-
Humphrey Hall and Wash Charity Ann Curtis Charity Stephen Ashwell Charity J H Hunt and Ann Wilder Charity
The Estate is a Registered Provider of Social Housing (RP) and is also registered with the Charity Commission.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest pound.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Income tax
As a registered charity, the activities are exempt from United Kingdom Income and Corporation taxation, provided that the income is applied to charitable purposes.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity which have not been designated for other purposes.
Designated funds are part of unrestricted funds which have been earmarked by the trustees for a particular purpose. Such designations may be reversed by future decisions of the trustees. Expenditure cannot be directly set against designated reserves but is taken through the Income and Expenditure account. A transfer is then made from designated reserves as appropriate.
The Charitable fund property reserve represents that proportion of the cost of properties which was financed from the Estate's own resources. The Charitable fund property reserve also includes depreciation equal to loan repayments provided in previous years.
Income
Income includes accommodation and heating contributions (net of losses from voids) receivable from tenants of the almshouses, together with donations received.
Investment income is recognised on a receivable basis.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.
Charitable expenditure comprises those costs incurred by the charity it the delivery of its activities and services for its beneficiaries. All support costs are attributable to the charities’ main activity of almshouse provision.
All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
The Estate's almshouses are stated at cost of construction including architects' fees and are depreciated in line with the depreciation policy below.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
- 15% straight line
No depreciation is charged on the Housing properties held for charitable purposes as it is maintained to a high specification. The trustees are of the opinion that the depreciation charge and accumulated depreciation would not be material because the asset has a very long useful life.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment property
The Estate owns the freeholds of about 25 acres of farmland, which produces income from letting. There is no recorded cost, but, in accordance with current accounting practise for investments, the trustees include the land in the accounts at their estimate of its realisable value.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
4. Income from charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Accommodation contributions | 19,217 | 19,217 | 18,600 | 18,600 |
| Service charges | 5,824 | 5,824 | 5,824 | 5,824 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| 25,041 | 25,041 | 24,424 | 24,424 | |
| ========================== | ========================== | ========================== | ========================== |
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
5. Investment income
| Unrestricted | Total Funds |
Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Rents receivable | 1,040 | 1,040 | 1,320 | 1,320 |
| Listed investments | 812 | 812 | 709 | 709 |
| ---------------------- | ---------------------- | ---------------------- | ---------------------- | |
| 1,852 | 1,852 | 2,029 | 2,029 | |
| ====================== | ====================== | ====================== | ====================== | |
| Expenditure on charitable activities | ||||
| Unrestricted | Total Funds |
Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Maintenance costs | 5,520 | 5,520 | 5,584 | 5,584 |
| Service costs | 9,117 | 9,117 | 8,416 | 8,416 |
| Miscellaneous | 56 | 56 | – | – |
| Support costs | 8,468 | 8,468 | 4,371 | 4,371 |
| -------------------------- | -------------------------- | -------------------------- | -------------------------- | |
| 23,161 | 23,161 | 18,371 | 18,371 | |
| ========================== | ========================== | ========================== | ========================== | |
| Analysis of support costs: | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Independent examination fees | 1,830 | 1,830 | 1,410 | 1,410 |
| Other office costs | 916 | 916 | 634 | 634 |
| Clerks pay and expenses | 4,464 | 4,464 | 1,124 | 1,124 |
| Depreciation | 1,258 | 1,258 | 1,203 | 1,203 |
| ---------------------- | ---------------------- | ---------------------- | ---------------------- | |
| 8,468 | 8,468 | 4,371 | 4,371 | |
| ====================== | ====================== | ====================== | ====================== |
6. Expenditure on charitable activities
7. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 1,258 | 1,203 |
| ====================== | ====================== | |
| Staff costs | ||
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries | 4,464 ====================== |
1,124 ====================== |
8. Staff costs
The average head count of employees during the year was 1 (2024: 1).
No employee received employee benefits of more than £60,000 during the year (2024: £Nil).
9. Trustee remuneration and expenses
During the year the amount paid to trustees in respect of remuneration, benefits and expenses was £Nil (2023: £Nil).
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
10. Tangible fixed assets
| Housing | Fixtures and | ||
|---|---|---|---|
| properties | fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2024 | 20,670 | 9,932 | 30,602 |
| Additions | – | 733 | 733 |
| -------------------------- | -------------------------- | -------------------------- | |
| At 31 March 2025 | 20,670 | 10,665 | 31,335 |
| ========================== | ========================== | ========================== | |
| Depreciation | |||
| At 1 April 2024 | – | 3,615 | 3,615 |
| Charge for the year | – | 1,258 | 1,258 |
| -------------------------- | -------------------------- | -------------------------- | |
| At 31 March 2025 | – | 4,873 | 4,873 |
| ========================== | ========================== | ========================== | |
| Carrying amount | |||
| At 31 March 2025 | 20,670 | 5,792 | 26,462 |
| ========================== | ========================== | ========================== | |
| At 31 March 2024 | 20,670 | 6,317 | 26,987 |
| ========================== | ========================== | ========================== |
The freehold on the Almshouses is owned by the Estate.
11. Investments
| Listed | Investment | ||
|---|---|---|---|
| investments | properties | Total | |
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2024 | 424,021 | 39,500 | 463,521 |
| Additions | – | – | – |
| Fair value movements | (6,885) | – | (6,885) |
| ------------------------------- | -------------------------- | ------------------------------- | |
| At 31 March 2025 | 417,136 | 39,500 | 456,636 |
| =============================== | ========================== | =============================== | |
| Impairment | |||
| At 1 April 2024 and 31 March 2025 | – | ||
| =============================== | |||
| Carrying amount | |||
| At 31 March 2025 | 417,136 | 39,500 | 456,636 |
| =============================== | ========================== | =============================== | |
| At 31 March 2024 | 424,021 | 39,500 | 463,521 |
| =============================== | ========================== | =============================== |
All investments shown above are held at valuation.
Investment properties
The estate owns the freeholds of about 25 acres of farmland, which produces income from letting. There is no recorded cost for the land, but, in accordance with current accounting practise for investments, the trustees include the land in the accounts at their estimate of its realisable value.
Financial assets held at fair value
The fair value of listed investments is determined by reference to the quoted price for identical assets in an active market at the balance sheet date.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
| 12. | Debtors | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors | 563 | 764 | |
| ============= | ============= | ||
| 13. | Creditors: Amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 2,967 | 3,115 | |
| ====================== | ====================== | ||
| 14. | Deferred income | ||
| 2025 | 2024 | ||
| £ | £ | ||
| At 1 April 2024 | 1,525 | 1,501 | |
| Amount released to income | (1,525) | (1,501) | |
| Amount deferred in year | 1,137 | 1,525 | |
| ---------------------- | ---------------------- | ||
| At 31 March 2025 | 1,137 | 1,525 | |
| ====================== | ====================== |
Deferred income relates to rents received in the year on behalf of periods post year end.
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
15. Analysis of charitable funds
| Balance at 1 | Gains and | Balance at | ||||
|---|---|---|---|---|---|---|
| Apr 2024 | Income | Expenditure | Transfers | (losses) | 31 Mar 2025 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 71,419 | 26,893 | (23,161) | – | – | 75,151 |
| Designated funds | ||||||
| Charitable fund | ||||||
| property reserve | 21,000 | – | – | – | – | 21,000 |
| Extraordinary | ||||||
| repairs reserve | 394,291 | – | – | – | (7,832) | 386,459 |
| Cyclical repairs | ||||||
| and maintenance | ||||||
| reserve | 1,000 | – | – | – | – | 1,000 |
| ------------------------------- | -------------------------- | -------------------------- | ------------- | ---------------------- | ------------------------------- | |
| 487,710 | 26,893 | (23,161) | – | (7,832) | 483,610 | |
| Endowment funds | ||||||
| Investment | ||||||
| reserves | 58,789 | – | – | – | 947 | 59,736 |
| ------------------------------- | -------------------------- | -------------------------- | ------------- | ---------------------- | ------------------------------- | |
| 546,499 | 26,893 | (23,161) | – | (6,885) | 543,346 | |
| =============================== | ========================== | ========================== | ============= | ====================== | =============================== | |
| Balance at 1 | Gains and | Balance at | ||||
| Apr 2023 | Income | Expenditure | Transfers | (losses) | 31 Mar 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Unrestricted funds | ||||||
| General funds | 55,337 | 26,453 | (18,371) | – | 8,000 | 71,419 |
| Designated funds | ||||||
| Charitable fund | ||||||
| property reserve | 21,000 | – | – | – | – | 21,000 |
| Extraordinary | ||||||
| repairs reserve | 351,116 | – | – | – | 43,175 | 394,291 |
| Cyclical repairs | ||||||
| and maintenance | ||||||
| reserve | 1,000 | – | – | – | – | 1,000 |
| ------------------------------- | -------------------------- | -------------------------- | ------------- | -------------------------- | ------------------------------- | |
| 428,453 | 26,453 | (18,371) | – | 51,175 | 487,710 | |
| Endowment funds | ||||||
| Investment | ||||||
| reserves | 56,876 | – | – | – | 1,913 | 58,789 |
| ------------------------------- | -------------------------- | -------------------------- | ------------- | -------------------------- | ------------------------------- | |
| 485,329 | 26,453 | (18,371) | – | 53,088 | 546,499 | |
| =============================== | ========================== | ========================== | ============= | ========================== | =============================== |
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Docusign Envelope ID: A5E36DF2-AABB-4DA4-BB01-084408B5079E
Brandon Poor's Estate
Notes to the financial statements (continued)
Year ended 31 March 2025
The nature and purpose of the designated and endowment funds are as follows:
Charitable fund property reserve - represents the proportion of the the cost of properties which was financed from the Estates own resources, held aside for future repayment.
Extraordinary repairs reserve - represents funds designated for extraordinary repair or improvement of almshouses.
Cyclical repairs and maintenance reserve - represent funds set aside for the expected future repair and maintenance costs on a short term cyclical basis.
Investment reserves - represent funds held inline with the endowment for the long term prosperity of the charity.
16. Analysis of net assets between funds
As at 31 March 2025
| Unrestricted | Endownment | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Tangible fixed assets | 26,462 | – | 26,462 |
| Investments | 425,960 | 30,676 | 456,636 |
| Net current assets | 31,188 | 29,060 | 60,248 |
| ------------------------------- | -------------------------- | ------------------------------- | |
| Net Assets | 483,610 | 59,736 | 543,346 |
| =============================== | ========================== | =============================== |
As at 31 March 2024
| Unrestricted | Endownment | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 26,987 | – | 26,987 |
| Investments | 433,792 | 29,729 | 463,521 |
| Net current assets | 26,931 | 29,060 | 55,991 |
| ------------------------------- | -------------------------- | ------------------------------- | |
| Net Assets | 487,710 | 58,789 | 546,499 |
| =============================== | ========================== | =============================== |
17. Related parties
There are no related party transactions in this or the prior period.
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