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North Devon Homes

Registered charity 1164142 · accounts filings on the Charity Commission register · also known as NORTH DEVON HOMES LIMITED

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Latest income
£26.4m
Latest spending
£26.3m
Registered
2015
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the Group reported a loss after tax of £479k for the year ended 31 March 2024, a reversal from the £609k surplus in the prior year, driven by increased interest costs and actuarial losses in pension schemes. Per the trustees' report, the Group maintains strong liquidity with a current ratio of 1.5 and has adequate resources to continue as a going concern, supported by significant unsecured loan facilities and a 30-year business plan.

What the accounts disclose

Payments to trustees: Non-Executive Directors received remuneration. C Dennis (Chair) £9,861; A Butt £7,000; J Creswell £3,369; J Goss £3,369; D Hay £3,827; S Ingman £7,000; D Lloyd-Evans £3,827; S Murray £3,827; P Oldroyd £6,065; S Sanger-Anderson £6,065.
“The Board members (who are also Trustees) are remunerated for their services. Details are set out in note 7 to the Financial Statements.”
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Group’s share of the operating surplus in the year was £19k (2023: £2k). The Association paid membership fees to ASW of £15k (2023: £15k) and there were no amounts owed to ASW at 31 March 2024 (2023: £nil).
“During the year one Executive Officer was a Board member of Advantage South West (“ASW”) in which the Association has a 33% shareholding. The Group’s share of the operating surplus in the year was £19k (2023: £2k). The Association paid membership fees to ASW of £15k (2023: £15k) and there were no amounts owed to ASW at 31 March 2024 (2023: £nil).” — page 75
Per its FY2024 accounts as filed with the Charity Commission.
Pension scheme deficit: £1.0m
“Under the defined benefit pension accounting approach, the SHPS net deficit as at 31 March 2024 is £1,031k (2023: £930k).” — page 80
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Anchorwood Limited
“It has one wholly owned subsidiary Anchorwood Limited which is a development company.”
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Bishop Fleming LLP. Discloses 3 of 6 completeness components.

Structured financials (annual return, FY ending 31/03/2025)

Total income
£26.4m
Total spending
£26.3m
Reserves (reported)
£63.3m
Employees
163

Reported reserves equal ~28.9 months of spending — in the top quarter for charities its size (median 4.6 months; benchmarks).

Register events

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Devon

Income and spending

Financial year endIncomeSpending
31/03/2025£26.4m£26.3m
31/03/2024£24.1m£24.8m
31/03/2023£24.3m£24.0m
31/03/2022£21.5m£20.8m
31/03/2021£22.3m£20.6m

Common questions

Is North Devon Homes financially healthy?

The accounts state that the Group reported a loss after tax of £479k for the year ended 31 March 2024, a reversal from the £609k surplus in the prior year, driven by increased interest costs and actuarial losses in pension schemes. Per the trustees' report, the Group maintains strong liquidity with a current ratio of 1.5 and has adequate resources to continue as a going concern, supported by significant unsecured loan facilities and a 30-year business plan. Its FY2024 accounts were audited by Bishop Fleming LLP.