Company reglstratton number.. 02844870
Charity registratlon number. 1026229
Exeter Community Initiatives
(A company Ilmlted by guarantee)
Annual Report and Flnancial Statements
for the Year Ended 31 March 2025
WESTCOTTS
eHARfkNED ACCOUNTANTS
& JUIIIIEJ> ADVIAEIIS

Exeter Communlty Inltiatives
Contents
Reference and Administrative Detsils
1to2
Trustees. Report
3to8
Independent Examinerfs Report
ststemenl of Finandal Actlvltlas
10
Balance Sheet
11to12
statement of Cash Flov
13
Notes to the Financial Statements
14to28

Exeter Community Initiatives
Reference and Admlnistrative Details
Chalr
Sheila Swarbrlck
TNslees
Alan Broughton (resigned 16 April 20241
Mark Gcmxlwn
Tim Goodwln (resigned 30 April 20241
Charlotte Hanson (resigned 29 August 20241
Diane Hayman (resigned 18 July 2Q24)
John Barrett
Mark Hodgson (appointed l April 2024)
Caroline Lake
Natalie Vizard (appointed l August 2024)
Robert Scott (appointed 10 October 2024 and resigned 5 February
2025)
Emerald Hughes (appolnted 10 October 20241
Stephanie Monks (appointed 21 November 2024)
Mla Roblllard-Day (appointed 26 September 2024}
Corinne Whileley (appointed 21 November 2024)
Secretary
Ellen Taylor
Charity Registration Number
1026229
Company Registratlon Numbar 02844870
Reglstered Offlce
148-149 Fore Street
Exéter
Devon
EX4 3AN
Independent Examlner
Westcotts (SW) LLP
Timberly
South Street
Axminsler
Devon
EX13 SAD
Accountants
Westcotts
Timberly
South Street
Axminster
Devon
EX13 SAD
Page 1

Exeter Communlty Inltlatives
Reference and Admlnlstrative Detalls
Bankers
CAF Bank
25 Kings Hlll Av8nu8
Kings Hlll
Kent
ME19 4JQ
Royal Bank of Scotland
Exeter
Broadwalk House
Southernhay West
Exeter
EX11TZ
GOIF Chaiity Funds
Senator House
85 Queen Victoria Street
London
EC4V 4
Page 2

Exeter Community Initiatives
Trustees, Report
The trustees, who are dlrectors for the purposes of company law, present the annual report together
th the financial statements of the charitable company for the year ended 31 March 2025. which
comply with the current statutory requirements, the charitls governlng documents and prepared in
accordance wlth the Accounting and Reporting by Charities, Statement of Recommended Praclice
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 20191-ICharities SORP
FRS02), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and
the Companies Act 2006.
Objectives and activities
Objects and aims
Exeter Community Iniliatlve's (ECI) charltable objects as defined by the Memorandum and Artides of
Association are as follows..
To promote social Inclusion for the public benefil by working with people in Exeter, the administrative
County of Devon and local authority areas (at both unitary, county and district level and adj2￿nt
thereto), to prevent people from becoming socially excluded, relieving the needs of those who are
sc￿laIlY excluded and assisting them to integrate into soclety.
To develop the capaclty and skills of Ihe members of the socially and economically disadvantaged
communi118s in Exeter, In such a way that they are better able to identify, and help meet, Ih8ir needs
and to participate more fully In soclèly: and
To promote, for th8 benefit of Exeter. the provlsion of facilities for the recreatlon or other lalsure tlme
occupation of Indlvlduals who have need of such facilities by reason of thelr youth, 8ge, Infimilty or
disablement. financial hardship or social and economlc clrcumstsnces or for the public at large in th8
Inlerests of social welfare and with the object of iTnprovlng the condition of life of the said inhabilanls.
As a mUlti￿urp0S8 organisation we have encapsulated these objects Into the following concise aim
based on the work that we have been delivering:
Our aim is to help people to improve wellbeing and bulld skllls,. support families facing challenges and
hardships and help commLJnllies to thrive.
Public beneflt
The Board of Trustees have complied wlth their duty under sectlon 17(5) of the Charrties Act 2011 to
have due regard to the guidance on public benefit published by the Charity Commission in exercising
their powers and duties. The trustees are satisfied that the aims, objectives and activilies of the
charity meet with the terrns of thls guidan￿.
Page 3

Exeter Community Initiatlves
Trustees. Report
Achlevements and performance
This year has been a powerful reminder of what's possible when people are supported to connect,
grow, and thriv8.
At ECI, our team of 34 paid staff, 23 volunteers and 11 Trustees has work8d with dedicatlon and
creallvlty to sland alongside indlvlduals and famllie8. hélping build stronger, more resillent
communltles.
Highllghts Include welcoming Magic Carpel and its tslented team into ECI, securing three years of
Nalional Lottery funding to relaunch the Transitions programme, and renewing Wellbeing Exeter for
Bnother three years- enabling nearly 11,000 neighbourhood connections. Our Chlldren's charity shop.
Jelly, was recognised with The Ex9ter Impact Place Award 2024, and Family Resourc8 continued to
exp8nd Ihrough inlllativés such as the Domestic Abuse pilot and the new Family Minds partnership.
Even wlth the closure of Exeter Connect, we've sustained its legacy by hostlng Devon Connect and
by running anolher succ8ssful Volunteer Fair at Exeter Cathedral wlth 800 visitors and 60
organisations.
None of thls would have been possible wllhout the generosity of our community. We are especlally
grateful to Exetar Muslcal Theatre Choir, Carollne Lake, Exeter Bach Chair and Finhoe Pantomime
Society for their fundralslng efforts.
We extend our sincere thanks lo our partners and grantfunders including The Nallonal Lottery, Exeter
City CouncAI. Sport England, East Devon Distrtct Coundl, Devon County Council. Thé Qfflce of Police
& Crim& Commissioner, Foyle Foundation, Pears Foundation, Rlx Rothenburn Foundation, Norman
Famlly Trust, David Gibbons Trust and Claire Milne Trust, amongst others.
A special thanks also to Exeter City Football Club and the Exeter City Supporters. Trust for their
C4)ntinued support, including their Exeter Community Fund iniliatlv8, whlch supported ECI as one of
six charity beneficiaries.
This has been a year of resilience, kindness. and hope. Together, we look fomard to achieving even
more in the year ahead.
Please visit our webslte www,eci.org.uk to read more about our Impact In 2024125, and the work of
our 5 core Iniliatives.
Page 4

Exeter Community Initiatives
Trustees. Report
Flnancial review
ReseNes policy
The reseNes policy specifies that in the event of ECI havlng to eease its activities, sufficient funds
should be available to pay for the cost of six months of charitable operation lo cover the wind-down
period and the redundancy cosls of any remaining stsff. The flnancial position against the policy is
re￿eWed every quarter.
The charit￿S free rese￿es, excluding fixed assets. permanent endowment fund and designated
funds, were £221,023 al 31 March 2025. The trustees. free reserves target is £104,160, representing
approximately six months, core costs, and we are taking sleps to ensure that a healthy balance is
maintained in excess of this target to ensure we can continue to underpin ECI'S charitable aclNilies.
A lurther £35,958 is held as investmenls for an endowment fund. The capital of this fund can only be
used in an unexpected emergency. The charivs Memorandum and Articles of Association authorises
the holding of such investments as may be thought fit. The actual investments hèld are units in the
COIF Charities Investment Fund.
Investment pollcy and obJ8Ctlves
Surplus funds are held Sn a COIF Chariiy deposlt account specifically designed to maximise retums.
Risk management
Throughout 2024125 and conllnulng Inlo the new financial year the Trustees have regularly monitored
the financial positlon against budgets and forecasts whlch have been reported to Councll meetings.
They have also continued to monitor the major rlsks lo whlch the charity Is exposed, and have
reviewed Internal systems to mlnimise these risks. The financial procedures and risk management
policies were reviewed in May 2024 and are reviewed annually to ensure that they still meet the
current requirements of the charity.
Plans for futur8 periods
We are entering the new financial year in a healthy position- we have ongoing funding in place for all
of our current work, and we continue to build partne￿hips across the charity and private sectors to
create new opportunities for collaborative work and support.
We have drafted a new strategy which will guide our work in 2026, with 5 key priorltles:
1. Strengthen Visibility and Clarify Communications
Develop and implement a communicalions strategy lo share success slories and impact.
Build stronger online presence, showcasing staff. lived experience. and community oulcom8S.
Develop concise messaging to communicate ECI'S unique role to stakeholders. funders, and the
public.
2. Enhance Staff Gapaclly and W8llbeing
Formalize internal wellbeing and peer-support mechanisms, align staff appralsal with annual
operational plans.
Page 5

Exeter Communlty Initiatlves
Trustees. Report
Create more structured opportunities for cross-project conn8Ction and learning {e.g. internal
mini-conferencas, regular team chéck-ins).
Continue to reshape our staff slructure and roles lo ensure ECI is delivering at maxlmum efficiency
and capacity for its ben8ficiaries.
3. Diversify and Secure Sustalnable Funding Streams
Develop additional earned-lncome opportunities.
Engage potential funders with lived 8xperience narratives and community-driven oulcomes to align
with their goals,
Build long-term fundlng relationships that und8rstand the valu8 of contlnulty and trust.
4. Influence and Lead WSthln the Broader Exet8rl Devon Ecosystem
Posltion the organizatlon as a thought18ader on community needs and holi8tlc support.
Collaborate with allgned charities, churches, and social enterprises to flll service gaps wilhout
overstretching.
Build relationships wlth new partners outslde the charity Sector, such as corporates and
educational organlsations.
5. Embrace Innovation and Prepare for the Future
Explore ethlcal and effective uses of digital tools and Al.
Stay ag118 and plan for changes in political cllmate, funding trends, and demographlc shlfts.
Remain proactive by pllotlng small-scale Innovations that can scale If successful.
structure, governance and managemènt
Nature of governlng document
The charlly Is a company limlted by guarantee (numb8r 02844870) and was Incorporated on 16
August 1993. It was r8glstered with the Charity Commission (reglslration number 1026229) on 30
September 1993. The company was estsblished under a Memorandum of Associatlon which
descrlbes the objects and powers of the charitable company, and il is governed under its Artides of
Association amended in 2012.
Recrultment and appolntment of trustees
Individuals, who must be members of the company, are usually el8Ct8d to the board of trustees (the
Council) by the company sitting In general meeting. Altarnatively, they may be appointed by members
of the Council provided third5 of the members of the Council support their appointment. One third
of their number retires by rotation each year and are eligible for re-election.
We have a clear view on the skllls we need for the ECI Council identified through a regular skills audit
carried out by trust8es. Vac8ncles ar8 advertised through the website and where specific skills are
required through wider advert. Onca identified prospÉctive trustees meet wlth the Chief Executlve,
thén are interviewed by 2 or 3 members of th8 board of trustees, one of which must b8 Ihe Chair. This
meeting is the point at whlch a decision is made to Invite the individual to b8come a trustee. Once
appolnted, the trustee then goe8 through a planned induction which introduc8s Ihem fully to ECI.
Page 6

Exeter Community Initiatives
Trustees. Report
Organisatlonal structure
All trustees are members of ECI'S goveming Councll. In furtherance of our charitable objects, It Is the
CoMpan￿S policy that the Council is responsible for setting the overall slrat8gy and policies of the
organisation, and all matters pertaining to general administration. The Council has dèlegated certain
powers and decision making capabilities to a Finance and Funding sub-committee, which provides
oversight and guidance on all financial and fundraising matters. Th8 organisation's Chief Executive
altends both Committees.
Paid staff
Our workforce has been exlremely strong this year.. highly lalented and committed individuals who
have made this year a success.
In 2024125 we had an average he2dcount of 34 staff across the year, wlth an average of 15.75 Full
Time Employees. 23 volunteers and 11 Trustees have worked with dedication and creativity to stand
alongside individuals and fsmilies. helping build stronger, more resilient communities. We maintained
high staff retention with an average of 93.4%. peaking at over 970A in two quarters.
The Board has continued to be supported throughout th8 year by Geoff Poad, Clerk to the Trustees.
ststernent of trustees, responslbllltles
The trustees (who are also the directors of Exeter Communlty Inltlatlves for Ihe purposes of company
law) are responsible for preparing th8 trustees, report and Ihe financial statements in accordance with
applicable law and United Kingdom Accountlng Standards {United Kingdom Generally Accepted
Accounting Practice), including FRS 102 "The Financial Reporting Standard applicabl8 In tha UK and
Republic of Ireland"
Company law requir8S the trust88S to prepare financlal ststemenls for each flnanclal y8ar. Und8r
company law the trustees must not approve the financial ststemenls unless th6y are satlsfied that
they give a true and falr vlew of the state of affairs of the charitable company and of the Incoming
resources and appllcatlon of resources. Including ils income and expendlture. of the charitable
company for that period. In preparing these financial ststements, the trust8es are required to:
select suilable accounting policies and apply them consistently;
observe the methods and princlples In the Charities SORP.
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards. comprising FRS 102 have been followed, subject
to any materlal d8partur8s disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless It is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose wilh reasonable
accuracy at any lime the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
saf8guarding the assels of the charrtable company and hen￿ for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for Ihe Maintenan￿ and intsgrity of the corporate and financial
information included on th8 charitablè companls website. Legislation governing the preparatlon and
dissemlnation of financial statements may differ from legislallon in olher lurlsdictSons.
Page 7

Exeter Communlty Initiatives
Trustses. Report
The annual report was epprovad by the trustees of the charfty on
behalf bsr.
and slgned on Its
Mark Goodwin
Chalr
'[_ . i.
Sheila Swarbdck
Chalr
Page 8

Exeter Community Initlatives
Independent Examinerfs Report to the trustees of Exeter Community Inltlatives
('the Company.)
I report to the charity trustees on my examlnatlon of the accounts of the Company for the year ended
31 March 2025.
Responsibilities and basis of report
As the charity's tTUStees of the Company (and also its dlrectors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companles Act 2006 ('the 2006 Acl,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examinatlon, I réport in respect of my examination
of your charity's accounts as carrled out under section 145 of th8 Charities Act 2011 ('the 2011 Ac¥).
In carrying out my examination I have followed the Directions glven by the Charily Commission under
section 145(5)(b) of the 2011 Acl.
Independent examiner's statement
Since the Companls gross income exceeded £250,000 your examiner must be a member of a body
lisled in seclion 145 of the 2011 Acl. I confirm that l am qualified lo undertake the examination
because l am a member of ICAEW which is one of the Ilsted bodies.
S have completed my examination. I confirm that no matters have come to my attention in connection
with th6 examination giving me cause to believe:
accounting records were not kept in respect of Exeter Community Initiatives as required by
section 386 of the 2006 Act. or
2. the accounts do nol accord wlth Ihos8 records., or
3. the accounts do not comply with the accounting requirements of sect5on 396 of the 2006 Act
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: or
4. the accounts have not been prepared in accordance wlth the m8thods and prlncip18s of the
Statement of Recommended Practice for accounting and reporting by charlties lapplicab￿ to
¢harliles preparlng their accounts in accordance with the Financial Reportlng Stsndard
appllcable In Ihe UK and Republlc of Ireland (FRS 102)].
I have no COn￿mS and have come across no other matters in connection with the examination lo
which attention should be drawn in this report In order to enable a proper understanding of the
accounts to be reached.
Gifford-England ACA
Westcotts (SW) LLP
Timberly
South Slreet
Axmlnsler
Devon
EX13 SAD
Date..
Page 9

Exeter Community Initiatlves
Statement of Financial Actlvities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Galns and Losses)
Unrestricted Restrlcted Endowment
funds
funds
funds
Total
2025
Total
2024
Note
Income and Endowments from:
Donations and legacies
Charitable activlties
Inv8Stment income
67,587
114,983
g,462
41,340
514,000
108,927
628,983
9.462
52.272
907,765
12,853
Tolal income
192,032
555,340
747.372
972.890
Expenditure on:
Charitable activities
1175,057
{536,977
712,034
(1.097.887)
Total expenditure
Gainsl(lossesl on
investment assets
(175,057) 1536,977)
(712,034) (1.097,887)
1.757
1,757
3,131
Net
incomel{expendlture)
Net movemant In funds
16,975
18,363
(1,757
33,581
(121,866
16,975
18,363
(1,757)
33,581
(121,866)
Reconclllation of funds
Total funds brought
forward
204,048
6,761
37,716
248,525
370,391
Total funds carrlad
fO￿ard
18
221,023
25.124
35,959
282,106
248,525
All of the charity's acllvltles deriv8 from contlnulng operations durlng the above two pérlods.
The funds breakdown for 2024 is shown in note 18.
The notos on pages 14 to 28 form an integr81 part ofthese flnanci81 statements.
Page 10

Exeter Community Initlatives
(Registration number: 02844870)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
12
13
7,307
35,959
43,266
5,312
37,716
43.028
Current assets
Deblors
Cash al bank and in hand
14
15
51,187
227,906
279,093
40,253
25,521
202.286
227.807
Credltors: Amounts falling due wlthln one year
16
22.310
Net current assets
238,840
282,106
205,497
248,525
Nel assets
Funds of the charlty:
Endowment funds
35,959
37,716
Restrlcted income funds
Restrlcled funds
25,124
6,761
Unrestricted income funds
Unrestricted funds
221,023
204,048
Total funds
18
282,106
248,525
The not8s on pages 14 to 28 form an Integral part of these financlal statements.
Page 11

Exeter Community Initiatlves
(Registratlon number: 02844870)
Balance Sheet as at 31 March 2025
For the flnanclal year ending 31 March 2025 the charlty was entitled to exemption from audit under
sectlon 477 of the Companies Act 2CQ6 relatlng to small companies,
Dlrectors. respon81bllltl8s:
The members have not required the charity to obtain an audit of Its accounts for the year in
quesllon In accordance with section 476. and
The dlrectors acknowledge thalr r8sponsibllitles for complylng wlth the roqulr8ments of the Act wlth
respeGt to accounllng records and th& preparation of accounts.
Thefi
anclal statements on pages 10 to 28 were approved by th8 truslees, 8nd 8Uthorised for issue
on 2,1.l.IiJ.zs... and signed on their b8half by.
Mark Goodwln
Chair
Shell8 Swarbrick
Chair
The notes on pages 14 to 28 fomi an integral part of th8S8 financial ststements.
Page 12

Exeter Community Initiatives
ststement of Cash Flows for the Year Ended 31 March 2025
2025
2024
Note
Cash flows from operatlng actlvltl88
Net cash Incomel(expendlture)
Adjustments to cash flows from nOn￿CaSh ltsms
Depreciation
Investment income
Lossesl(gains) on investments
33,581
(121,866)
5,531
(9,462)
1,757
31,407
4,542
<12.853)
(3,131)
(133,308)
Working capital adjustments
(Increase)Idecrease in debtors
Increasel(decrease) in creditors
Net cash flows from operallng aollvities
14
16
(25,666)
17,943
17,097
(29.769)
23,684
{145,980)
Cash flows from investing actlvllies
Interest receivable and similar income
Purchas8 of tangible fixed assets
Net cash flows from invesling activltles
Nel increasel(decrease> in cash and cash equivalents
Cash and cash equlvalents at 1 Aprll
Cash and cash 8qulvalents at 31 March
9,462
7,526
12,853
12
1,936
12,853
25,620
(133,127)
335,413
202,286
227,906
202.286
All of the cash flows are deilved from contlnulng operatlons during the above ￿ perlods.
The notes on pages 14 lo 28 form an integral part of these financlal statements.
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Exeter Community Initlatlves
Notes to the Financial Statements for the Year Ended 31 March 2025
Charity status
The charity is limited by guarantee. incorporated in . and consequently doés not have share capital.
Each of Ihe trustees is liable lo contribute an amounl not exceeding £Nil towards the assets of the
charity in the event of Ilquidatlon.
The address of its registered office is:
148-149 Fore Streel
Exeter
Devon
EX4 3AN
2 Accounting pollcles
Summary of significant accountlng policies and key accounting estlmales
The principal accounting policies applled in the preparation of these financial slalem8nts are set out
below. These policles hav8 been consistently applled to all the years presented, unless Othe￿[s@
Staled.
Statement of compllance
The financial statements have been prepared in accordance with Accounting and Reporting by
Charlties.. Slatement of Recommended Pradice (applicable lo charities preparlng their accounts in
accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS
102)) (issued In October 2019) - {Chariti8s SORP (FRS 102)), the Financial Reporting Standard
applicable In th8 UK and Republic of Ireland (FRS 102) and the Companles Act 2006.
Basls of preparation
Exeter Community Initiallv8s meets the definition of a public benefrt entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unle&8 othe￿ISe stated in the
relevant accounting policy notes.
Going concern
The trustees consider that there are no material un￿rtaIn￿e8 about the charIl￿S ability to continue as
a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by
the charity.
Page 14

Exeter Community Inltiatives
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
Judgements and key sources of estlmatlon uncertalnty
In the application of the charitvs accounting policies, Ihe trustees are required to rnake judgements,
estimates and assumptions about the carrying values of assets and liabilities thal are not readily
apparent from other sources. The estimales and underlying assumpllons ara based on hislorical
experience and other factors that are considered lo b8 relevant. Actual rasults may dlffar from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting eslirnates are recognised in the period in which the estimate is revised if the revision
affects onty that period, or in the period of the revision and future periods if the revision affects both
current and future periods.
The key SoUr￿S of estimation uncertainty Ihat have a significant effect on the amounts recognised in
the financial statements are depreciation, accrued expenses and valuation of investments.
Income and endowments
All income is recognlsed once the charity has entitlement to the income, il is probable that the Income
will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notlfiad In wrltlng of both the amount and
settlement date. In the event that a donation Is subject lo conditions that require a level of
performance by the charity before the charty Is entltled to the funds, the Income is deferred and not
reGogn15ed unlll either those conditions are fvlly mel, or the fulfllment of those conditions is wholly
within the wntrol of the charily and it is probable that these conditions will be fulfllled In thé reporting
period.
Glft aid
Incoming resources from tax r8clalms are included in the Statement of Flnanclal Ac15vlties at the same
time as the gift to which they relate.
Expendilure
All expenditure is recognised once there is a legal or constwctive obligation to that expenditure. it is
probable setllemenl is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditLJre heading that aggregate similar costs to that category. Where costs cannot
be directly attrlbuted to particular headings they have been allocated on a basis consistent with the
US8 of resources, with central slaff costs allocated on the basis of time spent, and depreciation
charges allocated on the portlon of the assel's use. Other sUPPOrt costs are allocated based on the
spread of staff costs.
Charitable activitias
Gharitable expenditur8 comprises those costs incurred by the charity in the delivery of its 8Ctiviiies
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an Indirect nature n8CeSS8ry to support them.
Page 15

Exeter Community Inltlatlves
Notes to the Financlal Statements for the Year Ended 31 March 2025
Support costs
Support costs are thos8 functions that assist the work of the charity but do not directly undertake
charitable activities. Governance costs are the costs associated with the govemaneA arrangemenls of
the charity, including the costs of compl￿ng with constltutlonal and statutory r8quiremenls and any
costs associated with th8 Strategic managem8nt of the charity's actlvities. These costs have bean
allocated be￿￿en cost of ralslng funds and expendlture on charltsble activities based on th&
proportlon of staff time as follows:
2025
2024
Raising funds
Charitsble activities
O.OO/o
100.0%
100.op
Govemance costs
These include the costs attrlbutable to the charity's compliance with constitutional and statLrtory
requlrements, including 8udit, slrat8gic management and Irustees me8tlngs and reimbursed
expenses.
Taxatlon
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Financ8 Act 2010
and therefore it meets th6 d8finition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from laxation in respect of incom8 or capital gains
received within c8tagorlas covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Seclion
256 of the Taxation of Chargeab18 Gains Act 1992. to the extent that such incom8 or galns are
applled exclusively to charltable purpos8S.
Tangible fixed assets
Individual fixed assets costing £250.00 or more are initially recorded al c05t.
Depreclalion and amortlsatlon
Depreciation is provlded on tangible fixed assets so as lo write off the cost or valuation, less any
estimated residual value, over their 8xpected useful economic life as follow8.'
Asset class
Leasehold Improvements
Fixtures, fittings and equipment
Depreclatlon method and ratè
4 years
4 years
Flxed asset Investments
Fixed asset investments, other Ihan programme related investments, are included at market value al
the balance sheat date. Realised galns and losses on investments are calculated as the difference
between sales proc88ds and thelr mark8t value at Ihe start of the year, or thelr subsequent cost, and
are charged or cAedited to the Statément of Financial Actlvltles in the period of dlsposal.
Unrealised galns and losses represent the movement in mathet valu8s during Ihe year and are
credited or charged to th8 Statement of Financial Activities based on the market value at the year end.
Pag8 16

Exeter Communlty Inltlatives
Notes to the Financial Statements for the Year Ended 31 March 2025
Cash and cash equlvalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that ar8 readily convertible to a known amount of cash and are subject to an
insignificant risk of change In valué.
Borrowings
Inlerest-bearing borrowings are initially recorded at falr value, net of transaclion costs.
Interesl-bearing borrowings are subsequenlly carried at amortised cost, with the difference bebNeen
the proceeds, net of transaction costs, and the amount due on redemption being recognised as a
charge to the Statement of Financial Aclivities over the period of Ihe relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as cu￿ent liabilities unless the charity has an unconditlonal right to defer
settlement of the liability for At least twelve months after the reporting date.
Fund structure
Unrestricted income funds are gen8ral funds that are available for use at the trustees discretion in
furtherance of the objectives of the charily.
Designated funds are unrestrlcted funds set aside for specific purposes at Ihe discretion of Ihe
trustees.
Restricted Income funds ara those donatsd for use In a parUcul8r 8rea or for speclflc purposes, the
use of which is restricted to that ar8a or purpose.
Penslons and other post retirement obligatlons
The charrty operates a deflned contribution pension scheme which is a penslon plan under which
fixed contributions are paid into 8 penslon fund and the charity has no legal or conslruclive obligation
to pay fiJrther contributions even if the fund does not hold sufficient assets to pay all employees the
benefits relating to Èmploy88 S8rvic8 in Ihe current and prior periods.
Contributions lo defined contrlbution plans are recognised In the Slalemant of Financial Aclivilies
when they are due. If contribution payments 8xce8d the contribution due for service, the excess is
recognlsed as a prepayment.
Financial Instruments
Classification and recognition
The charitable company only has financial assets and financial liabililies of a kind that qualify as basic
financial instruments. Basic flnancial Instruments are initially recognised at transaction value and
subsequently measured at their settlement value with the exception of bank loans which are
subsequently recognised at amortised Gost using the effective interest method.
Page 17

Exeter Community Inltlatlves
Notes to the Financial Statements for the Year Ended 31 March 2025
3 Income from donatlons and legacles
Unrestrlcted
funds
General
Restricted
funds
Total
2025
Donations and legacies,.
Donations from individuals
Gift aid reclaimed
other income from donations and legacies
22,640
3,990
40.957
12,000
34,640
3,990
70,297
29.340
41.340
67.587
108,927
Unrestricted
funds
General
Restrlcted
funds
Total
2024
Donations and legacies.
Donations from individuals
Gift ald reclaimed
40,045
2,749
42,794
5,345
4.133
45,390
6,882
9,478
52.272
4 Income from charltable activities
Unrestrlcted
funds
Ganeral
Restricted
funds
Total
2025
Community, projects and soc181 enterprise
Children and famllles
114,983
445,584
68.416
514.000
560.567
68,416
628,983
114,983
Unrestricted
funds
Genernl
Restricted
funds
Totsl
2024
Community. projects and s(Kial enterprise
Vulnerable adults
Chlldren and families
127.842
472.830
39.655
267,438
779.923
600,672
39.655
267.438
127.842
907.765
Page 18

Exeter Communlty Initiatives
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Investment income
Unreslrlcted
funds
General
Unrestrlcted
funds
General
Total
2025
Total
2024
Other Investment Income
9.462
9,462
12,853
12.853
6 Analysis of charltable activitles includlng governance and support costs
Total
Charitable
activities
Govemance
costs
2025
staff costs
ReGruilment costs
Tr8velllng and other costs
Us8r activities and training courses
Telephone and internet
Computer sothvare and malntenance costs
Printing, postage and stationery
Rent, rates and room hlre
Light, heat and pow8r
Insurance
Subscriptions
Publicity and marketlng
Repairs and maintenance
Depreciation
Equipment
Freelance therapists
Professional fees
Sundries and consumables
Bank charges
Audit and accountancy fees
582,913
3,091
8,921
14,827
7,328
11,733
1,317
31,960
3.142
4,092
5,930
815
3,268
5.531
5,025
2.374
1,112
2,981
582.913
3.091
8.921
14,827
7,328
11,733
1.317
31,960
3,142
4,092
5,930
815
3,268
5,531
5,025
2,374
12.228
2,981
1,006
3,552
11,116
1,006
3,552
696,360
15.674
712,034
Page 19

Exeter Community Initiatives
Notes to the Financial Statements for the Year Ended 31 March 2025
Total
Charitable
actlvlties
Governance
costs
2024
Siaff costs
Recruitment costs
Travelling and other costs
User aclivities and training courses
Telephone and internet
Computer software and rnaintenance costs
Printing, postage and stationery
Rent, rates and room hire
Light, heat and power
Insurance
Subscriptions
Publicity and marketing
Repairs and maintenance
Depreciation
Equlpment
Freelance theraplsts
Professional fees
Sundries and consumables
Bank charges
Audit and accountancy fees
927,483
1,442
11,166
9,243
10,025
19,919
4,126
31,324
2,877
4.03g
3,021
4,643
2,062
4,542
1,734
30,257
15,984
1,566
9,165
936,648
1,442
11,166
9,243
10.025
19.919
4,126
31.324
2,877
4,039
3.021
4,643
2,062
4,542
1.734
30.257
16.032
1.566
821
2,400
1,097.887
48
821
2,400
1,085.453
12,434
7 Net incomlngloutgoing resources
Net incomingl{outgoing) r8sources for the year include:
2025
2024
Depreciation of fixed assBts
5,531
4,542
8 Trustees remuneration and expenses
No trustees. nor any persons connected with them. have received any remuneration from the charity
during the year (2024= nil).
No trustees have received any reimbursed expenses or any other benefits from the charity during the
year (2024: nill.
Page 20

Exeter Community Initiatlves
Notes to the Financial Statements for the Year Ended 31 March 2025
9 Staff costs
Th8 aggregate payroll costs werè as follows:
2025
2024
Staff costs durlng the year ware:
Wages and salaries
Social security cosls
Pension costs
533,209
28.038
21,666
839,010
58,144
39,494
936,648
582.913
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year was as follows:
2025
2024
No
48
Average head count
36
No 8mploye8 received emoluments of more than £60,000 during the year (2024: NII).
The key management personnel of the charltable company comprise the Trustees, Chlef Executive
Officer, and Senior Leadership Team. The tDI81 employee benefits of the key management personnel
were £173,860 (2024: £229,354).
10 Independent examlnerfs remuneratlon
2025
2024
Examlnatlon of thé financlal statements
3.240
2,400
11 Taxatlon
The charity is exempt from cA)rporation tax as all of its income is charitable and is applied for
charitable purposes.
Page 21

Exeter Community Inltlatives
Notes to the Financlal Statements for the Year Ended 31 March 2025
12 Tanglble flxed assets
Furnlture
and
equipment
Leasehold
Improvements
Total
Cost
At 1 April 2024
Additions
39.886
5.658
21.214
1,868
61,100
7.526
At 31 March 2025
45.544
23,082
68,626
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
35,990
3.836
19,798
1,695
55,788
5.531
39,826
21,493
61.319
Net book value
At 31 March 2025
5,718
1,589
7,307
At 31 March 2024
3,896
1,416
5,312
13 Flxed asset investments
Listed
Investments
Totsl
Cost or Valuatlon
At 1 April 2024
Revaluation
37,716
1,757
37,716
1,757)
At 31 March 2025
35.959
35.959
Net book valu8
At 31 March 2025
35,959
35,959
At 31 March 2024
37.716
37.716
Investments held are COIF Charilies Funds managed by CCLA.
Page 22

Exeter Community Initiatives
Notes to the Flnanclal Statements for the Year Ended 31 March 2025
14 Debtors
2025
2024
Trade deblors
Prepa￿nents
Other debtors
38,351
9,161
3,675
51,187
5,700
5,888
13,933
25,521
15 Cash and cash equlvalents
2025
2024
Cash at bank
227.906
202,286
16 Credltors: amounts falllng due within one year
2025
2024
Trade creditors
Other tsxatlon and soclal security
Olher credllors
Accruals
8,236
6.858
12.928
12,231
40.253
7.609
12,001
2,700
22,310
17 Commltments
Other flnanclal commitments
The charity had operating leases at the year end with total future mlnlmum lease payments as follows:
Land and bulldlngs
2025
Other
2025
2024
2024
Amount falllng dua:
Within 1 year
withln 1- 5 years
16,854
75,521
92,375
15,250
7,625
22,875
204
298
204
298
Page 23

Exeter Communlty Initiatives
Notes to the Financlal Statements for the Year Ended 31 March 2025
18 Funds
other
gains 31 March
Illossos)
2025
April Incoming Resources
2024 resources expended Transfars
Unrestrlcted funds
General
General Funds
189,048
192,032 (175,057)
206,023
Designatsd
New development fLFnd
Total unrestricted
funds
15,000
15,000
204,048
175,057
192.032 L
221,023
Restrlcted funds
Devon Growing
Communitles
Pears Fund
st Olavs. Trust
Tran Community
Lottery Fund
Small Grants
Wellbelng Exeter
Exeter Connect
Clalre Mllne Fund
Devon Family
Resource
Davld Glbbons Trust
Exeter City Council
Norman Family Trust
Rix Thompson
St Davids Ward
TNL Community Fund
3,000
12,000
250
(3,000)
{11,307)
(250)
693
56,451
2,000
279,761
(39,774)
(2.000)
<284,024)
(479)
(4,000)
16.677
1,101
2,019
4,263
479
<918)
4,000
168,038
1,500
2.000
1,000
5,000
350
19,990
(163,970)
(1,500)
(3331
<1,000)
{5.000)
(350)
19,990)
555,340 (536,977
918
4,986
1,667
6,761
25.124
Endowment funds
Expendable
Expendable Funds
37,716
{1.757
1,757
1,757
35.959
37,716
35,959
Total funds
248,525
747,372
12,034
282.106
Page 24

Exeter Community Inltiatives
Notes to the Financlal Statements for the Year Ended 31 March 2025
Other
galns 31 March
l{losses)
2024
l April Incomlng Resources
2023 resources expended Transfers
Unrestricted funds
General
General Funds
252,g80
183,489 (240.970)
(6,451)
189,048
Designated
Transitions
New development fund
16,382
15,000
(16,382)
15,000
31,382
16.382
15,000
Total unrestricted
funds
284,362 183,489
240,970
22,833
204 048
Restrlcted funds
Devon Growing
Communities
Pears Fund
st Olavs, Trust
Tran Community
Loltery Fund
Small Grants
Homeless
Collaboration
Wellbeing Exeter
Exeter Connect
Claire Milne Fund
Devon Family
Resour
David Gibbons Trust
1,902
15,868
3,536
64,465
35,050
(58.349)
(63,229)
(8,0181
12,311
(3,536)
15,877)
2,019
2.700
<6,450)
9,627
2,019
1,735
19,158
(1,735)
348.568 {363.463)
62,680
(62,201)
4,263
479
2,500
(2,500)
11,556
953
274,033
1296,120)
7,105
1D,531
6.153
51,444
789,401
(856,917
22,833
6.761
Endowment funds
Expendable
Expendable Funds
34,585
3,131
37,716
34,585
3,131
37,716
Total funds
370,391
972,890 (1,097,887
3,131
248.525
Page 25

Exeter Community Inltiatives
Notes to the Financlal Statements for the Year Ended 31 March 2025
The speclfic purposes for which Ihe funds are to be applied are as follows..
Endowment fund.. The endowment fund vtss donated to be retained and only expended in an
unexpected emergency or upon dissolution of the company. Income arising from the fund is available
for any purpose deemed appropriate by the council of management. Gains or losses on the
investments in which the fund is held are added to or deducted from the tund each year.
Restricted funds:
Small Grants.. A restricted fund for any miscellaneous small grants received for spectfic purposes
during the y8ar.
Homeless Collaboration.. Funds to be used to support soup kitchens in Exeter.
Wellbeing Exeter.. Funds to be used to ernploy Community Builders on the Wellbelng Exeter project.
Exeter Connect: Funds to be used lo deliver the voluntary and community sedor support service for
Exeter City Council.
Colab.. Funds to be used to support community response to mental health projects in Colab.
Devon Family Resource.. Projecl supporting children and families to thrive and have a positive start to
their life Ihrough enabling the provision of support services.
Devon Growlng Communities.. To support Ihe delivery of Magic Carpet arts & drama sessions.
Pears Fund: To supply families in need with f¢)od, glfts and other items.
St Olavs Trust.. To purchase a household item for 8 family in need.
Tran Community Lottery Fund.. To deliver the Transttlons project (workshops and coaching for adults
wth mental health challenges).
Claire Miln8'. To support the dellvèry of Magic Carpet arts & drama sesslons.
David Glbbons Trust: To support th8 d81ivery of Magic Carpet arts & drama 5esslons,
Exeter city Council: To support the dellvery of Magic Carpet arts & drama sesslons.
Norman Famlly Trust., To support Ihe delivery of Family Support WO￿ as part of our Famlly Resource
Project.
Rlx Thompson.. To support the delivery of Magic Carpet arts & drama sesslons.
St Davids Ward: To go towards card making In Tuesday Club and Snapdragon.
TNL Community Fund: To support the delivery of Magic Carpet arts & drama sessions.
Designated fLtnds'.
Trdnsitions.. This funding has been designated for use with the Transitions project in honour of the
indivldual who left the charily a legacy and was strongly (x)nnected to this area of our work.
New development fund.. Thls fund contaSns income from Garfield Weston and The Communiiy Fund
which were given towards core costs and have been designated as funds to be utillsed for particular
development projects as they arise.
Page 26

Exeter Community Initiatives
Notes to the Financlal Statements for the Year Ended 31 March 2025
9 Analysls of net assets between funds
Total
fLtnds at
31 March
2025
Endowment
Restrlcted
funds
funds Expendable
Unrestrlcted funds
General Deslgnated
Tanglble fixed assets
Fixed asset Investments
Current assets
Current liabilities
7,307
7,307
35.959
279,093
(40,253)
35,959
238.969
(40,253
15,000
25,124
Total net assets
206.023
15,000
25.124
35,959
282.106
Total
funds at
31 March
2024
Endowment
Restricted
funds
funds Expendable
Unrestricted funds
General Designated
Tangible flxed assets
Fixed asset investments
Current assets
Current liabilities
5.312
5,312
37,716
227,807
<22,310)
248,525
37,716
206,046
(22,310}
15.000
6,761
Total nel assets
189,048
15,000
6,761
37,716
20 Flnanclal Instruments
Categorisation of financial instruments
2025
2024
Flnancial assets measured al falr value through profit or loss
35,959
37,716
Financial assats maasured at fair value comprise lisled investm8nts.
Page 27

Exeter Communlty Initiatives
Notes to thè Flnanclal Statements for the Year Ended 31 March 2025
21 Related party transactlons
During the year the charity mad8 the followlng related party transactlons:
Alan Broughton
In 2024. made donations of £6.250 to the charity. At the balance sheet date the amount du8 iollrom
Alan Broughton was £Nil (2024 - £Nil).
Shella Swaybrlck
Made donations of £930 (2024: £800) to the charty. At the balance sheet date the amount due
tolfrom Sheila Swarbrick was £NII (2024 - £Nil).
TIM Goodwln
Made donations of £240 to the charity. At the b818nc£ sheet date the amount due iolfrom TIM
GocKlwin £Nil (2024 - £Nil).
Natalie Vizard
Made donations of £103.50 to th8 charity. At the balance sheet date the amount due tolfrom Natalle
Vizard w88 £Nil (2024 - £NII).
Page 28