THE TWYFORD TRUST
NCIAL STATEMENTS
YEAR ENDED S APIUL 2025
Cont¢nts
Pai¢
R¢f¢rellce and administrntion details
Tru51ees report
S¢atetnen¢ of r]n￿￿1￿ activities
B￿anCe theet
Note5 to the financi￿ 8￿¢Ments
7-12

THE TWYFORD TRuYr
REFERENCE AND ADMINISTRATION DETAILS
Charity name
The Twyford Trust
Regbtered chArtty number
249627
Kn]￿tshaYes Estate Office
Leat Street
TivErtort
Devon
EX16 5LF
Sirlgn Heathcoat Amory (Chalr)
B T Vickery
A Owen
M J Qratton
SLLec
A J Brttton
B4Dk¢rB
NatWe5t Bank plc
I l Fore Street
Tiverton
D¢von
EX16 6LW
Solltitot7
Ashfords
Ashford Hou8e
Grenadier Road
Exetcr
EXI 3LH
Ind¢p•ndeMt tx*mlller
Mrs M Hutchings
Apsleys
21 Bampton Street
Tiverton
Devon
EX166AA
Property Managers
Kiughtshayes Estate Office
Lz&t Street
Tiverton
Devon
EX16 SLF

TR
TEES REP
The Tn￿te¢S presertt thcir report aTLd the fjnancial 51atem￿]ts ofthe charity for the year ended 5 April 2025. Th¢tr￿Sle¢S
have adopted the provisions of the StstementofR¢¢0n￿e￿deaPr8¢ti¢e (SOBP)"Ac¢ouutillg and R￿orting by
ChaTiti¢$" (FRS 102) iThprwarillg the ajmual rwrt and fJttall¢i81 sratetnettts ofthe ch8rtty.
of the objeets ofth¢ Charlty set out In Its gov¢rnthg do¢uweMt
Provision and mBna8ement of A]mshouses ftirpoor and aged ￿p16 8rtd the estsblishment orc0rtv8l￿eCrtt home&
SurtLll￿ry of tbe gttlvltles ts relatlon to these objecdv
Th¢ Thst contiw¢s ¢0 mftnage and mosnlain its 49 self contAirteA dwellll)gs forelderly persons. These dwellings ar¢
owned by the TrL￿t and are all situated in Tiverton.
The tn￿tee5 have had r¢8ard to th¢ Chprtty COMMI￿lOn guidance on publ1¢ benefi¢ and bellev¢ thi513
tharity's objKtives and a¢¢ivities.
via the
ACHIEVEMENTS AIYD PKRFOIiMANCE
Summ8ry ofthe Aeblevements ofthe ehgrlty duTln¥ the year
MaintetwJ¢¢ of properties und 8TOWth.
FINANCIAL REVIEW
At the end of the firta￿l￿ yearthere was net surplus of£lO.574 (2024: £46,075).
Brlef ofthe ¢h*rAty's pollty n¥•rvog
Reserve8 ate mrLirtthined at a level detttmined by th¢Tr￿ste&s to meoi unforeseen expenditure on the housing proputi
thatm&y arfse.
srRucfuR4 GOVERNANCE AND MANACEMENr
Type ofgovtrnkng document
Trttst Deed dated 7 September 1966 and Charfty Commisslon Scheme doted 24 May 1984 (8s amended).
How tbt ¢hY4dty L¥ ¢ollstltuted
Trust

CONnNU
Trnste¢ selectlon metbod
Under th¢ provisions of the ttust deed there shall be orte nomitmted tTUStee and up to five eo-OPt¢d trustees. Thc deed
PTovides th¢ nominated rntstees (thd omy vacgmcy of nominated trustees) shall bc appointed by the tru8tees of the
Heath¢oat Trust but shall not be rliwbl¢ unl¢s5 they are also trusteos ofthe Heethcoat T￿St, and shall only Continue in
offi¢¢whilst they are still trustee5 of the l.Ieathcoat TrusL The deed provides that Co-opted tswstees shall be appointed by
th¢ existing tnth￿es Iboth llo]ninated aTKi C￿Opted} wlThevera vaconcy in the1rD￿nber arise3.
This report Approvtyj by the Board on........
and Si￿￿j ontheir behalf by:
Slr He
t knory Bt.

Ir4DEPENDENT EXAM
OR
THE
USTEES OF THE TWYFORD TRU
I rq￿rt to the charity trLLStees on my examination ofth¢ a¢coLU)ts ofth¢ trust forthe year ended S April 2025 ￿tch are
set out on pages S to 12.
Re8P0115tbllitles and of r¢port
AB the cbty's tnLStees you ar¢z¢spoDMbk forthepr¢parntionof the a¢￿￿ts in aw)rd8nc¢ with th¢ requtrements of
the CbaTitÉesAct201I ('th¢ A¢t'>.
I reportin respect of my e¥amlDBdonofthe ¢bBllty's accouDts carried outund¢rBertion l45 ofthe Art ond in ¢0￿y1￿$
out My exarninotion I have followed 811 the appIl￿b]C Directions giv¢n by th¢ Ciwity C¢)mmisslon Under 8ection
145(5Xb) of th¢ Act.
Independent txRmlD•es st8ternent
I have completed my examiTLMtion. I confirm that no rnateriai tnatters have como to my attentlon In connectlon wlth the
exatnSnation givin8 me cause to believe that in any material resPeCt=
accounting records were noi kept in respect of the chority 8s required by a￿tIOn 130 of the Act: or
the a¢¢ounts do noi accord with thos¢ ￿0rd9' or
the ac¢ounts do noi comply wilh the applicAble requir¢mellts ¢otKerningthe fm and content of aKO￿ts set out in
th¢ ch￿ltieS {A¢¢ounts and Reports) R¢8u18ttons 2008 other th8fA any requirem￿t that th¢ 8e¢ourtts Biv¢ a'th
and f8irvlow' wbi¢h b I￿t ¢otisidered upart ofatt indoettdent￿fillhlti￿knl
I PAve no coD¢¢ms pThl hov¢ ¢om¢ #cr05s no oth¢T m#tt¢r8 in¢ODne¢tlon wth the expminatlon to Thhi¢h attefttlort should
E¢ drawn in this report in order to enable &propLY understanding of th¢ occounts to be Teoche
Mrs M Hlltehlngs
Ap51eys Ch8rtered A¢¢ouDtants
Zl Bampton Street
Tlverton
Devort EX16 6AA
Datv.

THE TWY
Tob TrINAN
L202
202
2024
Total
restricted
Ineontt from:
Main¢eTwice contribution5
Intrrcst Teeeivable and other income
Miscellaneo￿8 irKome
Tot&1 IT￿Me
160231
160231
147,422
405
160 237
160.237
147 827
Expendllur* OD:
Charitable activities
Costs of activiti¢s in fiwt1M￿Oftr￿t'S obj¢¢tiv¢s-
Running and maintainin8 hoLL8in8 prop¢ni
Mana8ement and administNion of the charity
Total ¢xp¢nditur¢
108.059
27,942
136,001
108,059
27.942
136,001
116,072
27,436
143,508
Net in¢omel(expetyAiiL￿j befon gainy on
investmen
Gait￿ on inveslm¢nts
- Reallsed
. Unreaiised
(54)
41,810
Nel incomel(expendSture)
10,574
10,574
4A075
Trnsfers bdween fi￿dS
10,574
10.574
46.075
Other reco8ru5ed 8oln5:
on disposal of (ongible fL¥ed assets
Net movement In fjjnds
10.574
10.574
46.075
Totsl fijnds brought foTrYard
Ttital funds carried fonyard
1001685
259 763.4￿2
1765 087
1775 661
1,719012
1765 087
All activltlcs during the year wwe Continuing ￿lIvI11t￿
The note5 on pa8¢ 7 to 12 fomi poA of th￿e financiaj statement&

THE TWYF
RD TRusr
ATS
2025
Fix¢d
Tangible fixcd a55e¢s
Inv&stments
,340,903
401 538
1.742.441
1.340.903
415,200
1,756,103
Curr¢nt assets
Debtors
Cash a( bank and in hand
io
2,749
41934
45,683
5,460
19.600
Creditor5: omoutts falling due
within one yeor
Net aUTent
33.220
8.984
Tot4108s¢ts less aLTrent li8bili¢ies
1.775.661
1.765.087
Funds
Unrestricted: Deslgrkoted fut
Other tJnrc5trictcd funds
R¥trictgJ funds
12
494,582
Sl7,677
763 402
1775 661
494,582
507.103
763 402
1765 087
13
l%,Lf.
The statenwnts wer¢ approv¢d alld authorl¥¢d for issue byth¢bogxd of on..............
and 5i8¢)ed on t
r beholf by:
Slr 18n HeA
ItAmoryB.
The notes on pages 7 to 12 fonn p8rt ofth¢se financial statements

HE
ORD TRUS
TO THE filNAN
IAL
TATEME
OTE
Swnmary or￿gnifI¢8llt 8e¢oMtttlDg polielts
(M) Celleral IDforJnAtioD bosis of preparation
The Twyford Thll5t is a Char]￿ble trust T¢g1St¢T￿ in Eng￿d￿rythin the United Kingdom.
The charity con#its]te8 8 publi¢ benefii entity 45 defined by FRS 102. Th¢ fit￿¢10] *atements have been pr¢por¢d
In ￿cord0n¢¢ A¢couniing And Reporting by Charities.. St&temetLI of RecoTnmcndcd Prncticc &pplithlc to
¢lwrities prepartng their a¢coLmts in EtccordaTtt with the Financi￿ Reporting Sillndard applicable in thc UK and
Republic of Ir¢1B￿d (FRS 102) i55ued on 16 July 20141&g updated through Update Bulletin I publishcd on 2
FebruBry 2016k the Chariti&s Act 20118nd UK Gen¢rally A￿¢pIed Acc¢)untinz Pra¢ti¢¢ ￿ it appli¢s from I
Jellupry 2015.
The finan¢lal statements are prepgjrd on a going Concern basis underthe hlstorical eost cortventSon, modlfied to
include certain iiems at fASrvalue. The fin&ncial statements are presented In sterling which is the functional
¢urTenGy of the ch8rity and rout¥led io the nearo8t£.
The si8nific8nt acwunting policie5 opplicd in the preparation of these firAncial statements ere set out be]ow. These
policies have been conslskntly applied io all years presented urtless othorwi5e stated.
(b) Income reeopltlon
All incoming r¢50ur¢es are included in ihe Stotement of Financial Ac¢iviti¢s {SoFAI when the charity is IcgAIIy
entltled io th¢ i￿Ome after any p¢rfomianR ¢onditson8 hav¢ been inet, the amount can ￿ meAsured reliably and it
Is probabl¢ that the I￿ome will be re¢¢iv¢d.
For dortations to bu rtto8nised the tharity will have beett notiflcd of thB amountswxi th¢ 8¢ttlem¢nt da¢¢ in writin8.
If therc are conditions attached io the donation and this requires a level of performance before eniitl¢ment C8n be
obtained th¢n in￿rne is deferred wiiil thos¢ conditions are fully met orthe fuifilment ofth¢ise ¢ondititsns is within
the Control of the chArity and it is probable thot they will bv fi￿fille(L
Income from government and other gr￿tS are recO￿)iStd Qt fair value when the charity has erttltlement after any
performanG¢ cotMlstIon5 havc beert meL it Ss prnbablc that the income will bE Tcccived and the amount can be
M￿￿red Jyllablyp Ifthtltlement 1$ notmet then th&qe am¢)unts ar¢ d¢re￿¢d.
(e) Expendlture retognldon
Ail expertditu]r is accountcd for on an accruals b&8is and h*L8 been cl&ssified und¢r h¢adin&s thpt aw¢gale ￿1,¢05￿
r￿A￿d to the ctttegory. Expettditure is recognised where th¢re is &I￿al or constru¢[1￿ obligation to mail¢
poyfftents io third p2rtie4 it i5 probable thatthe settlement will be required and ¢h¢ amount of the obligation be
¢wred rellabty. It is cate8orised under the followryng headin&4,'
Expenditure on charitable actlvities.
Manag¢ment End adminisir81ion of the charity.
Irrecoverablc VAT is chaTKd ￿ En expen8eaz8instthe ectivity for whlch expertdlture aros

THE
NOTES TO
KFIN
CIAL STATEMEKrs
AR ENDED 5 APRIL 2025
(d) Tangible rued agsets
Tan8ibl¢ fjxed assets are 5tatcd at cost {ordeemed cost) or va]ua£ion. Cost includegcosts dir¢¢tly attTibutsbl¢ to
making the asset capable of operating &8 intende
propertiesare maintained Sn a st2te of r¢p4lrs￿h that theirestimoted residue] value Is not le55 than their
Improvement COSt or c4rrylng amount, and therefore depreciotion is not provided th¢ anmial ¢h8yge would be nil.
(t) Investments
Investmcnts Are rec¢)gni5ed initially at fair value which is norn)ally the transaction price excluding transaction Costs.
Subscquelltty, they ore muyured at fairvalu¢ with ¢han8es reco8DiwI in'n¢t8ainsl (losses) on itiY¢sttn¢Dts' inthe
SOFA if the shares are publicly traded or their fair vaIu¢ can oth¢n¥i3e be measured reliably. Other investtnents aT¢
mC48ured at w5t less inpttimmt.
{Q Debton and tredhor& re¢tlvAbl¢l PAy*ble wltbltt omeye8r
Debtors and creditors ￿1th no slated interest rate and rtteivable or payobl¢ withtn one year are JEcorded at
transaction pric¢. Any losses aAsing frorn impainnent Hre recognised in ¢xpendiliJr&
(i) C8sh
Co5h ￿lld cath equivulentsare basic fit)art¢ial assets end Include c&3h in hpnd. deposits held ftt Call with bllnk4 oth¢r
shon.term Ilquid inves¢ments with origlnal m&tiJrities ofthree rnorths or le84 and bot￿ overdr&ft&
)T8X
The ¢hgrity is an exempt ¢htirity wlthln the meaning of Schedule 3 ofthe Charitles Act 2011 und is ¢onsidered to
pus the tesis set out irt Parttwh I Schedule 6 Finance Act 2010 and thcrcfote it meets th¢ definiiion of
charitable company for UK corporationtsx purpoKs.
(t) Funth
Unrestricted fiirtds are available for u3¢ at the di3uetion of the trustees lrt 1itrther￿c¢ of the genern] objectives of
the clwily artd which have Dot been designat￿1 for other purposes.
DeSI￿ated fiJnds compris¢ unrestrlcted fund5 that have been set asid¢ by th¢ irusiee5 for ptrticular pwpow. The
aim and LLqe of each des7￿￿t¢d fund is set out in the notes to th¢ finan¢i81 statements.
Restricted fimd3 Bre funds which ore to be used in accordance with specific r¢3trirtions imposed by d¢Jnors orwhich
h4ve been raised by the charity for particular p￿POse5. The ¢ost of raising and adminlstering 5uGh funds are charged
ag8illSt thc sperili¢ fi]nd. The aim and use oFeach ￿lT1¢t￿3 fvnd is Set out in the notes to the financial 5trtements,

THE FIN
NDED S APRIL 2025
Thuto¢s emolllmettts And expenseg
NorE of the tsvstees rx¢iv￿ any emolument& Travel expenses totaIled £34 (2024.. £27).
Employtt lThformatto
The tr￿St had no employees duTiDg this y¢ar orth¢ previous year.
M#lntett#tttt totttrlbutloni
MaiThlenanee eontributions rcceivoble
L¢5s Void periods
161.720
1.489
160.231
151,995
147.422
Interut re£¢fv4b1¢4nd oth¢r I￿¢0￿¢
COIF Chariiies deposit interest
Wayleave
400
405
& Mbteltsneous Income
Natwest compensation
100
Y. CharltAble expenditure
ot151n
25T
LiBhtill8 And heatlng
Lands(ape maintetjance
In5¥ran¢e
764
10,587
5.269
764
10.587
5,269
720
3,160
23,405
657
41059
1312
10.200
5.167
720
3,160
23,405
657
Bookkeeping
Rent colleclion ènd mryem¢nt fees
Sundry admin ¢xpen5¢5
Day to day maintenatKe
Cyclical Maintenanc¢
Majorrepairs
1rnpr0van￿ts
790
21.095
834
68,416
10,314
527
23,253
143,508
46,059
45.380
45.380
108059
27,942
136.001
C¢)mp8Trtives
116,072
143 508
170350

io
us
OTES TO THE FJi%AIYCIAL STATEMEF4TS
YEAR ENDED 5 APRIL 202S
Flxed 898•ts for¢h8rlty wt
Freebol
Tots
Cost
At 6 Aprfl 2024 and At S Aprtl 2025
1340.SY13
I J40.903
Depreciation
At 6 April 2(123
Char8e for the ye4r
At 5 April 2024
Ne¢ book valu¢ 5 April 2025
Net bookvalu¢ 5 April 2024
1340,903
1340 903
1,340 903
In¢lud¢d in freehold property ts£88,643 worth of lond.
Investments
Inv¢5trnents consist of1649.25 unlts (2024: 1649.25 Lmlts) In the Choritie5 OITicial InvestrAent Fund.
Voiuailon at6 April 2024
Sold
Realls¢d guln
Net 8aiDI{l¢)53¢sI on r¢valuatlon
Valuation at 5 April 2025
415,200
(13,662)
Hi3tOriCB] cost at 5 April 2025
(5 April 2024- £197.6701
10. Debtors: amounts fa]Illlg dlle wltblll olle year
A￿eBTS ofmaintenance contributions
2,749
5,460
11. Credltorg: Amounts falIlllg dlle wlthkn one y￿r
2024
KnightshEyes Estate Tr￿
Trdde credstor5
Accruals
5,102
6,811
550
5,633
4,433
550

NOTES TO THE FINAN
YEAR KND
IAL sfATE
IL D¢slgnat¢d funds
2025
7,269
3&000
Cyclical repaiT5 and maitttrnanee
Major repairs
Improvements
Charttsble fll[￿ prom reserve
7269
38.000
45J80
(45.380)
449.313
449.313
494 582
Cycli￿1 rcpalrs and maintenance fund- This reserve represents amounts sel aside for ￿diCal maini¢nanc¢ lo meet
¢051$ in exc¢&5 Of budgeted exp¢nditur¢ for any year.
m8iorrepal￿ futLd- This reserve iepresents Amounts set asid¢ to nworr¢paiT& onth¢ trust's housing
properties.
Improveme[￿ futtd. This res¢rv• repreoents amoullts set aside to w out improvements to thelru6t's I￿￿5￿n8
prO￿rtIe
Charitable fund prO￿Y re5erv¢. Thi5 r¢pNertts ihot proponlon ofthe cost of propertlcs whlch was finwKed by
¢heritable doThRtionB Bnd the truJt'$ own resour￿. Thts aÉnouttt Is desl8llated to n￿¢1 In￿orUI￿r•S¢ettropalre0I1g
to the tNst'& housin8 Ptoperttu.
13. R¢strlct¢d fund$
Housing A550¢i81ion Qr8nt Fund
763 402
HouingAs30CiQtion Grant Fund
763 402
The charity dere8i5tered from theHouslng Corporation in 1999. Housing Assocititiort Grant (HAG} iepreset)ts
amounts received in respect of the purch&8e off freehold propErtLC5. GranLs are rEpayable utyjer certain
circwns¢an¢es. primarily followin8 th¢ sale of a property but will nonnally be restricted to net proceeds ofsa]e.
14. Anslysls Dtn•t 8ss¢ts betw¢en
Fund balances a¢ 5 April 2025 are repres￿}ted by:
Tenwble fixed assrfs
577,501
401,538
45,683
12,463
1.011259
763.402
1,340,903
401,538
45,683
Current &*8ets
Current lithilltles
Total net ¥5sets
763.402
1775 661
IS. Ftll8DcIHI eomtllltments
The property managers havedrawi up an estimate ofthe repairwoth (of all ¢atsgorie5) that will need to be
ertaken th￿Illg the year ending 5 April 2026, and the costof the workis estimated at £150.CW {in¢luding VATI

12
RDTR
THE FINAN
IAL
TATEM
YEAR ETr4DED 5 APRIL 2025
16. Rel4t¢d party trAnsa¢tlottJ
Under thc provL5ion5 of thc trust deed, there sh811 be one nominaÉed trustee and up to fivc c(wted trustees. The
deed providcsthat the one nominatcdtr￿tee shall be appoitrted by the trustces tsf the HeathcoatTrusL
Knightshayes Estate Office manago the Trust's properties and collect T•nts on beha]f oftheTru5L Duringthp ytttr
Knightshaye5 E5taÈe OtTic¢ charged the Twst £23,405 {2024 £21,885) in management feas. Kni8htshaycs Estate
Offic¢ istk administrative Centre for the fflaT￿gement of the Esthie of Sir latt HeaitKoat Amory th is a bv5tee of
the E*ate. As at S April 2025 Twyford Tnjst owed Knightslwe8 Estoie £5.10212024 £5,633)