Company registration number 6932120 (England and Wales)
Charity registration number 1131269 (England and Wales)
BERNARD'S ACRE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
BERNARD'S ACRE
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A Heron
Mrs R J Sowden
Mr P T Sowden
Mrs I Mathieson
Mrs R Heron
Mr C R Eggins
Mrs M Burge
Mr P Burge
Mr P A Taylor
(Appointed 18 October 2025)
Mrs E T Taylor
(Appointed 18 October 2025)
Mr I D Awcock
(Appointed 18 October 2025)
Charity number
1131269
Company number
6932120
Business address
Bernard's Acre
Belstone
Okehampton
Devon
EX20 1QX
Registered office
15-17 Southernhay East
Exeter
Devon
EX1 1QE
Independent examiner
Mr A Hemmings BA (Hons) FCA CTA
Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
BERNARD'S ACRE
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 13
BERNARD'S ACRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

During the year, Rosemary Sowden was responsible for day to day administration of property bookings, administration and finance. Paul Sowden was responsible for property matters.

During the year the Charity employed one part time person for 20 hours per week - 12 hours per week as caretaker plus 8 hours per week to cover the day-to-day administration of the centre bookings process.

The Focus of our Work

Our main objectives for the period were to promote the evangelical Christian faith. We meet these objectives by letting out the premises at Bernard’s Acre to church affiliated and other Christian groups and individuals.

Purposes and Aims

Our charity’s purposes as set out in the objects contained in the company’s memorandum of association are:

- The promotion of the Evangelical Christian Faith and in furtherance of this object to provide a Christian Centre; an d

- The furtherance of such other charitable purposes as the charity shall determine.

The aims of our charity are to promote the evangelical Christian faith by providing premises for use by church affiliated and other groups that respect our values. These premises are known as Bernard’s Acre and are located at Belstone, Okehampton, Devon. We are an inclusive Christian charity. Everyone is welcome to use our facilities, whether they are a person of faith or not.

The charity is a successor body to the unincorporated charitable trust known as The Bernard’s Acre Trust established by deed executed on 10 January 1981. On 1 October 2009, the Trust transferred the freehold property at Bernard’s Acre and its entire net assets to the charity. The charity commenced the activities previously undertaken by the Trust on 1 October 2009. In 5th June 2017 Bernard’s Acre Trust was linked to the Trust by the Charity Commission.

Ensuring our Work Delivers Our Aims

When reviewing our aims this year the Trustees have considered the Charity Commission’s published guidance on public benefit. The aim of our charity is to provide comfortable, affordable, accessible accommodation for use by families, church affiliated groups and other groups that respect our values.

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the period, the success of the key activities and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

How our Activities Deliver Public Benefit

Our main activities and who we try to help are described below. All our charitable activities focus on the promotion of the evangelical faith by the provision of suitable premises for hire and are undertaken to further our charitable purposes for the public benefit.

BERNARD'S ACRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Achievements and performance

Who used and benefited from our Services

Bernard's Acre was let for around 90% of weekends during 2025 which is our primary letting pattern. The occupancy rate during the year averaged out at around 45% with higher usage in high season and lower usage in low season. The impact of our work goes far beyond the individuals who stay at Bernard's Acre. The bookings returned to a more normal pattern, which included church based groups and activities including youth groups, educational groups, adult retreats and family groups. Our work also benefits the churches, families and communities which guests belong with additional income generated by letting to families and groups for holidays during the periods when the centre would otherwise be vacant.

Financial review

The charitable company made an operating surplus in the year of £10,371 (2024 – £12,724).

Total income increased by £7,121 compared to the previous year.

Total expenditure showed an increase of £9,474 compared to the previous year.

The charitable company’s funds totalled £487,696 (2024: £477,325) at the year-end with net current assets totalling £51,442 (2024: £31,258).

Principal Funding Sources

The principal funding sources for the charity over this year were the letting of Bernard’s Acre and some donations from supporters.

Investment Policy

Aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent in the short term concentrating on repayment of long term borrowing and upgrade of the premises in order to reach a carbon neutral position in the long term, so there are no funds for long term investment.

Reserves policy

The directors have examined the charity’s requirements for reserves in light of the main risks to the organisation which would include a significant reduction in lettings income and the liabilities associated with employment of staff. It has established a policy to hold at least 6 months of unrestricted expenditure. Reserves this year totalled £477,325 which was in line with this policy.

Budgets for the coming year forecast a net operating profit of £16,223.

Plans for future periods

The charity has a full booking diary for 2026. We are reviewing our marketing strategy in order to maximise the income that can be generated during the low season now the upgrade has been completed allowing letting all year round.

Structure, governance and management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 12th June 2009 and registered as a charity on 21st August 2009. The company was established under a Memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

BERNARD'S ACRE
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

Directors

The names of persons who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page 1.

Mr A Heron
Mrs R J Sowden
Mr P T Sowden
Mrs I Mathieson
Mrs R Heron
Mr P J Hawes
(Resigned 10 October 2025)
Mr C R Eggins
Mrs M Burge
Mr P Burge
Mr P A Taylor
(Appointed 18 October 2025)
Mrs E T Taylor
(Appointed 18 October 2025)
Mr I D Awcock
(Appointed 18 October 2025)
Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. The directors are also members of the company and the company has no members who are not directors, therefore the Annual General Meeting was deemed to have taken place as part of the meeting of the directors at which the Accounts were presented for approval.

All directors/trustees give their time voluntarily and received no benefits from the charity.

Organisational structure

Bernard’s Acre has a board of directors who meet biannually (or more as required) and are responsible for the strategic direction and policy of the charity. At present the board has seven members from a variety of professional backgrounds relevant to the work of the charity.

Induction and training of trustees

Three new trustees were appointed during the year. All trustees have visited Bernard’s Acre and volunteer in practical ways.

Additionally, trustees familiarise themselves with the charity and the context within which it operates, including:

- The obligations of members

- The main documents which set out the operational framework for the charity including the Memorandum and Articles

- Resourcing and the current financial position

- Future plans and objectives

Risk Management

The directors have 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.

Mr A Heron
Trustee
28 May 2026
BERNARD'S ACRE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BERNARD'S ACRE
- 4 -

I report to the Trustees on my examination of the financial statements of Bernard's Acre (the charity) for the year ended 31 December 2025.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

Mr A Hemmings BA (Hons) FCA CTA
for and on behalf of Simpkins Edwards LLP
The Summit
Woodwater Park
Pynes Hill
Exeter
EX2 5WS
Dated: 1 June 2026
BERNARD'S ACRE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income from:
Donations and legacies
2
2,894
3,026
Charitable activities
3
62,781
55,539
Other trading activities
4
190
25
Investments
5
896
1,050
Total income
66,761
59,640
Expenditure on:
Charitable activities
6
56,390
46,916
Total expenditure
56,390
46,916
Net income and movement in funds
10,371
12,724
Reconciliation of funds:
Fund balances at 1 January 2025
477,325
464,601
Fund balances at 31 December 2025
487,696
477,325

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BERNARD'S ACRE
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 6 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
436,254
446,067
Current assets
Debtors
10
5,259
5,655
Cash at bank and in hand
59,970
48,311
65,229
53,966
Creditors: amounts falling due within one year
12
(13,787)
(22,708)
Net current assets
51,442
31,258
Total assets less current liabilities
487,696
477,325
The funds of the charity
Unrestricted funds
14
487,696
477,325
487,696
477,325

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 28 May 2026
Mr A Heron
Trustee
BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
1
Accounting policies
Charity information

Bernard's Acre is a private company limited by guarantee incorporated in England and Wales. The registered office is 15-17 Southernhay East, Exeter, Devon, EX1 1QE.

The liability of each member in the event of winding up is limited to £10.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Equipment costing more than £750 is capitalised.

BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 8 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
The freehold property is stated at estimated market value and is not depreciated
Fixtures and fittings
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 9 -
1.9
Taxation

As a charitable company, Bernard's Acre is exempt from tax on income and gains falling within sections 466 to 493 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable purposes. No tax charges have arisen in the charity.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11

Supply of Water to Riverside Cottage

A deed has been drawn up between Bernard's Acre and Riverside Cottage regarding water supplied via Bernard's Acre. The costs of metered water and standing charge are shown in other income.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
2,894
3,026
3
Income from charitable activities
Charitable activities income
Charitable activities income
2025
2024
£
£
Lettings income
62,781
55,539
Analysis by fund
Unrestricted funds
62,781
55,539
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Other income
190
25
BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
896
1,050
6
Expenditure on charitable activities
Charitable expenditure
Charitable expenditure
2025
2024
£
£
Direct costs
Staff costs
15,256
14,627
Depreciation and impairment
12,751
12,317
Heating and lighting
4,140
825
Insurance
3,288
3,191
Water and sewage
1,173
715
Waste disposal
484
837
Telephone
2,037
1,333
Repairs, maintenance and equipment
4,117
2,599
Cleaning
6,838
4,481
Rent and rates
516
276
Accountancy
2,280
2,190
Payroll charges
318
252
Bank charges
60
60
Miscellaneous expenses
1,318
1,373
Loraine Trust mortgage interest
400
880
Dues and subscriptions
629
326
Advertising
785
634
56,390
46,916
Analysis by fund
Unrestricted funds
56,390
46,916
7
Trustees

One of the Trustees was reimbursed expenses totalling £1,135 (2024: £564) during the year. These costs were in relation to charitable expenditure.

BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
1
1
Employment costs
2025
2024
£
£
Wages and salaries
15,256
14,627
There were no employees whose annual remuneration was more than £60,000.
9
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2025
400,000
90,705
490,705
Additions
-
2,938
2,938
At 31 December 2025
400,000
93,643
493,643
Depreciation and impairment
At 1 January 2025
-
44,638
44,638
Depreciation charged in the year
-
12,751
12,751
At 31 December 2025
-
57,389
57,389
Carrying amount
At 31 December 2025
400,000
36,254
436,254
At 31 December 2024
400,000
46,067
446,067
10
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,763
2,023
Other debtors
569
1,069
Prepayments and accrued income
2,927
2,563
5,259
5,655
BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
11
Loans and overdrafts
2025
2024
£
£
Other loans
-
10,000
Payable within one year
-
10,000

A loan of £100,000 has been offered by The Loraine Christian Trust with interest charged at 4% over a period of up to fifteen years.

The Charity repaid the remaining £10,000 during the year.

12
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Borrowings
-
10,000
Other taxation and social security
258
36
Deferred income
13
9,022
10,392
Trade creditors
408
-
Accruals
4,099
2,280
13,787
22,708
13
Deferred income
2025
2024
£
£
Other deferred income
9,022
10,392

Deferred income is included in the financial statements as follows:

2025
2024
£
£
Deferred income is included within:
Current liabilities
9,022
10,392
Movements in the year:
Deferred income at 1 January 2025
10,392
10,042
Released from previous periods
(10,392)
(10,042)
Resources deferred in the year
9,022
10,392
Deferred income at 31 December 2025
9,022
10,392
BERNARD'S ACRE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
14
Unrestricted funds
At 1 January 2025
Incoming resources
Resources expended
At 31 December 2025
£
£
£
£
General funds
477,325
66,761
(56,390)
487,696
Previous year:
At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
464,601
59,640
(46,916)
477,325
15
Related party transactions

Equipment and work done totalling £473 (2024: £348) was paid for by the charity to a company where the son of two of the trustees is a director.

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