Great Torrlngton and District Community Development Trust
(A company Ilmfitsd by guarantee)
Charity No. 1055230
Company No 0319341)0
Annual Report and Unaudited Financial Statements
For the year ended 31" March 2024
CHARITY cor,AMISSION
FIRST CONTACT
0 9 DEC ?q?4
RECii?i D.-.

Great Torrington and District Community Development Trust
CONTENTS
Page
Charity information
Trustees, Report
3-5
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9-13

Great Torrington and District Community Development Trust
CHARITY INFORMATION
Charity Name
Great Torrington and District Community Development Trust
Limitsd
Charlty registration number
1055230
Company registration number 03193400 (a company limited by guarantee)
Principal and registered office Castle Hill,
South Street,
Great Torrington.
Devon EX38 8AA.
Trustees (Directors)
P. Hood, Chair
G. Bealey
Ms. Leanne Freeman (appointed 10 January 2024)
P. Martin
Mrs D. Nicholson
D. Squire
P. Topham
Secretary
P. Topham
Bankers
Lloyds Bank Plc.,
5 High Street,
Bideford,
Devon EX29 2AD.
Independent Examiner
Andrew Fraser
Stowford House,
East Stowford,
Umberleigh,
Devon EX37 9RU.

Great Torrington and District Community Development Trust
TRUSTEES, REPORT
The Trustees, who are also Directors for the purposes of the Companies Act, have pleasure in
presenting their report and the unaudited financial statements of the Charity for the year ended 31 st
March 2024.
LEGAL STATUS
The Charity is a charitable company limited by guarantee and was incorporated on the 9 May
1996.
OBJECTS, ORGANISATION AND ACTIVITIES
To provide facilities for recreation with the object of improving the condttions of lrfe
and social welfare for those living and working in the area of benefrt, defined as Great
Torrington and specified surrounding parishes.
To advance education and relieve poverty among those living or working in the area
of benefrt.
To preserve, protect and enhance in any way for the benefrt of the public, the
amenities, including buildings or features or historic, architectural or natural interest within
the area of benefit.
To further any other charitable purpose or purposes for the benefit of those living or
working in the area of benefit.
The principal activity of the Charity during the year was to improve the conditions of life and social
welfare for those living or working in the Great Torrington area.
REVIEW OF PROGRESS AND ACHIEVEMENTS
The Charity continues to be managed by the Trustees on a voluntsry basis. The work of the Charity
amounts to the ongoing management and support of the portfolio of measures already
implemented.
The Trustees continue their policy of managing a portfolio of communty owned assets to generate
a revenue stream which will support the ongoing core costs of the organisation. However, the level
of the trading surplus remains insufficient to fully fund new projects for the Trust.
During the year the Charity obtained further grants for landscaping works in the Castle Hill Gardens
to improve visitor experience and also town signage within Great Torrington.
The Charity continues to seek new sources of grant funding to provide support for both the ongoing
core costs of the Trust and for new community projects currently under development.
RESTRICTED FUNDS
Monies raised for specific projects are held on a restricted basis until the funds are required. As at
st
31 March 2024 the following funds, included wÈthin the above were held - Capital and Leasehold
Grants. These relate to the original funding for the development of Castle Hill.

Great Torrington and District Community Development Trust
TRUSTEES. REPORT (continued)
ACCOUNTING POLICIES
In preparing these financial statements the Twstees are required to select suitable accounting
policies and then to apply them consistently, making judgements and estimates that are reasonable
and prudent. The Trustees must also prepare the financial statements on a going concem basis
unless it is inappropriate to presume that the Charity will continue its activities.
The Trustees are responsible for keeping accounting records which disclose with reasonable
accuracy at the time the financial position of the Charity and to enable them to ensure that the
financial statements comply with the Companies Act 2006. The Trustees are aSso responsible for
safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
AUDIT STATUS & INDEPENDENT EXAMINER
Under Charity and Company Law, the Trust is exempt from audiL Wrthin Charity legislation an audit
is only mandatory when gross income exceeds £500,000. The Trust must, however, have its
annual accounts reviewed by an Independent Examiner.
FINANCES
The attached financial statements show the current state of finances. At the yearend there was
deficit of £126,919 (2023 deficit £118,711) on unrestricted funds. The income and property of the
Chartty shall be applied solely towards the promotion of the objects and no part shall be paid or
transferred, directly or indirectly, by way of dividend, bonus or otherwise by way of profrt to
members of the Charity.
TRUSTEES AND THEIR INTERESTS
The Trustees who held office during the year are detailed on page 1. None of the Trustees had an
interest in the shares of the Charity at any time during the year as the Charity is limited by
guarantee.
TRUSTEES RESPONSIBILITIES
Company law requires the Trustees to prepare financial statements for each financial year which
give a true and fair view of the state of affairs of the Charity at the end of its financial year and of the
incoming and outgoing reSoU￿S for the year then ended.
RESERVE POLICY
The Trustees aim to keep the equivalent of twelve months running costs as unrestricted reserves.
Any surplus funds over and above this amount will be used in furtherance of the Objectives of the
Trust.
RISK POLICY
The Trustees consider that the major risk to the Trust is the ongoing lack of grant funding to cover
the core costs of the Trust. The Trustees are seeking ways to increase the trading subsidiary's
income, to enable surplus funds to be generated for use by the Trust.

Great Torrington and District Community Development Trust
TRUSTEES. REPORT (Gontinued)
DISSOLUTION
Every member of the Charity undertakes to contribute an amount (but not exceeding £1) towards
the settlement of the Charity's debts and liabilities in the event of it being wound up.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the special provisions of the Companies Act 2006
relating to small companies.
Approved by the Board of Trustees on g October 2024 and signed on its behalf by,
Mr P. Hood, Chaiman
Date: 9 October 2024

Great Torrington and District Community Development Trust
INDEPENDENT EXAMINER'S REPORT TO THE SHAREHOLDERS ON THE UNAUDITED
ACCOUNTS OF GREAT TORRINGTON AND DISTRICT COMMUNITY DEVELOPMENT TRUST
LIMITED
I report on the Financial Statements for the year ended 31 March 2024 set out on pages 7 to 13.
RESPECTIVE RESPONSIBILITY OF THE DIRECTORS AND INDEPENDENT EXAMINER
As described on page 3 the Trustees are responsible for the preparation of the Financial Statements
and they consider that the Charity is exempt from an annual audit. It is rny responsibility to cary out
procedures designed to enable me to report in my opinion.
BASIS OF OPINION
My work was conducted in accordance with the Statement of Standards for Reporting Accountants and
so my procedures consisted of comparing the Accounts with the accounting records kept by the
Company, and making such limited enquiries of the Directors of the Company as was considered
necessary for the purposes of the reporL These procedures provide only the assurances expressed in
my opinion.
OPINION
In our opinion:
1. the Financial Statements are in agreement with the accounting records kept by the Charity
under the Companies Act 2006;
2. having regard only to, and on the basis of, the information contained in those accounting
records;
the Financial Statements have been drawn up in a manner consistent with the accounting
requirements specified in the Act, and
the Charity satisfied the conditions for exemption from an audit of the Financial Statements
for the year as specrfied in the Act and did not, at any time within that year, fall within any of
the categories of companies not entitled to the exemptions specified in the Act.
And￿W
ser
Date: 9 October 2024

Great Torrington and District Community Development Trust
STATEMENT OF FINANCIAL ACTivrrY. INCLUDING INCOME AND EXPENDITURE ACCOUNT
For the year ended 31 March 2024
Note
Restricted
Funds
Unrestricted
Funds
Totsl
Funds
2024
Total
Funds
2023
Income resources
Donations & Legacies
Grants
Other income
1,631
1,631
2,500
150
13,200
2,466 .
20
2,500
150
2,500
1,781
4,281
15,686
Resources expended
Support costs
Projects
10,016
10,016
2,473
9,943
2.473
2.473
10,016
12,489
Net movement in funds
27
-8,235
-8,208
5,743
Reconciliation of funds
Net funds brought fonNard
1,088,324
-118,711
969,613
963,870
Total funds carried forward
1,088.351
-126,946
961,405
969,613
The Notes on pages 9 to 13 fonn an integral part of these financial ststements.

Great Torrington and District Community Development Trust
BALANCE SHEEr
As at 31° MARCH 2024
Note
2024
2023
Flxed assets
Tangible assets
13
887.351
898,636
Current assets
Debtors
Cash at bank and in hand
14
59.251
14,803
74.054
61,304
11,673
72,977
Credltors due within one year
Net current assets I liabilities
74,054
72,977
Net Assets
15
961,405
969,613
The funds ofthe Charity
Restricted Funds
Unrestricted Funds
1,088.324
-126,919
1,088,324
-118,711
Total Charity funds
961,405
969,613
st
For the year ending 31 March 2024 the Charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 and accordingly the members have not required the
Charity to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibility for complying with the requirements of the Act with
respect to accounting records and for the preparation of Financial Statements. These Financial
Statements have been prepared in accordan￿ with the provisions applicable to companies
subject to the small companies, regime.
Approved by the Board of Trustees on 9th October 2024 and signed on its behalf by,
Mr P. Hood, Chainnan
Date: 9" October 2024
The Notes on pages 9 to 13 forni an integral part of these financial statements.

Great Torrington and District Community Development Trust
FUNDAMENTAL ACCOUNTING CONCEPT
These financial statements and those of the subsidiary company, Genesis (Great Torrington)
Limited (Genesis), of which this charity is the sole member, have been prepared on a going
concem basis on the grounds that the Charity continues to support Genesis financially by
guaranteeing the Company's overdraft facility, although currently Genesis does not need
financial support. The Trustees believe that the steps that they have taken to protect cash
flow will enable the Charity and Genesis to continue to meet their respective liabilities as they
fall due.
2 ACCOUNTING POLICIES
Basis of preparation
The Financial Statements have been prepared under the histOriG Cost convention and in
accordan￿ with the Statement of Recommended Practice
Accounting and Reporting
Standard for Charities (SORP 2005) issued in March 2005, the Financial Reporting Standard
for Small Entities effective January 2007, and the Companies Act 2006.
Cash Flow Statement
The Trustees have taken advantage of the exemption in Financial Reporting Standard 102
from including a Cash Flow Ststement in the Financial Statements on the grounds of the size
of the Charity.
Consolidation
The Charity is the holding company of a small group. The Company however has taken
advantage of the exemption provided by the Companies Act 2006 in not preparing group
accounts. The Chanty has also taken advantage of the rules within SORP 2005 by not
preparing consolidated accounts as the tumover for the Group, after eliminating intra group
trading is less than £500,000 (2023 less than £500,000).
Fund accounting policy
Unrestricted income funds are generated funds that are available for use at the Trustees,
discretion in fvrtheran￿ of the Chaiity's charitable objectives. Restricted funds are those
funds donated for a particular purpose and remain restricted in their application to that
purpose.
Further details of each fund are disclosed in Note 15.
Incomlng resources
Except for donations from Genesis (Great Torrington) Ltd., our trading company, voluntary
income, donations, grants and investment income that provide core funding or are of a general
natu￿ are only recognised upon receipt.
Grants
Grants received in respect of capital expenditure are recognised as a restricted fund in the
period in which they are re￿iVed and depreciation relating to those assets is charged to the
fund over the estimated useful life of the fund. Grants received in respect of non-depreciable
capital expenditure are deducted from the cost of the fixed assets. Grants of a revenue nature
are credited to Unrestricted Funds in the period in which they are received.

Great Torrington and District Community Development Trust
ACCOUNTING POLICIES (continued)
General income
Income from charitable activities includes income recognised as eamed as the related goods
or services are provided.
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the
Charity to the expenditure. All expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all costs related to the category.
Costs of generating funds are the costs associated with attracting voluntary income.
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its
activities and services for its beneficiaries. It includes both costs that can be allocated directly
to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Govemance costs indude costs of the preparation and examination of the Financial
Statements, the costs of Trustees, meetings and the cost of any legal advice to the Charity on
governan￿ or constitutional matters.
Support costs
Support costs include central functions and have been allocated to activty cost categories on
a basis consistent with the use of resources, for example, allocating property costs by floor
area, or per capita, staff costs by the time spent and other costs by their usage.
DEPRECIATION
Depreciation is provided on tangible fixed assets so as to write off costs or valuation, less any
estimated residual value, over the expected useful economic life of the asset as follows:
Leasehold property
Leasehold improvements
Plant and machinery
straight line over 999 years
straight line over 100 years
20 % reducing value
4 DONATIONS and LEGACIES
Restricted Unrestricted Total
Funds
Funds
Funds
2024
Total
Funds
2023
Donations - Private
Group Company
1,631
1,631
200
13,000
1,631
1,631
13,200
io

Great Torrington and Distrirt Community Development Trust
GRANTS RECEIVED
Restricted Unrestricted Total
Funds
Funds
Funds
2024
Total
Funds
2023
Private
2,500
2,500
2,466
Restricted Funds are held for community projects to be completed within the next year.
6 INCOME FROM CHARITABLE ACTIVITIES
There was no income from charitable activities during the year (2023 £nil).
7 INVESTMENT INCOME
Restricted Unrestricted Total
Funds
Funds
Funds
2024
Total
Funds
2023
Interest on cash deposits
150
150
20
8 TOTAL RESOURCES EXPENDED
Grants Charltsble Management Support Total
Trading
2024
Activities
Total
2023
Admin
Support costs
Project costs
Professional fees
Bank charges
Depreciation of
tangible assets
2,473
2,473
648
83
648
83
600
87
9,285
9,285
9,256
2,473
9.818
2,671 12,489
9,943
9 TRANSACTIONS WITH THE TRUSTEES
The Trustees have received no remuneration for ServI￿S supplied to the Chartty during the
year and have no interests in any supplier of services or materials to the Charity.
li

Great Torrington and Distrirt Community Development Trust
10 NET EXPENDITURE
Net expenditure is stated after charging:
2024
2023
Depreciation of tangible f￿ed assets
9,285
9,256
11 EMPLOYEES. REMUNERATION
No employee re￿iVed remuneration during the year (2023 none).
12 TAXATION
The Charity is exempt from Corporation Tax.
13 TANGIBLE FIXED ASSETS
Leasehold
land and
buildings
Plant
and
machinery
Total
2024
Totsl
2023
Cost
As at 31 March 2023 and 31"
March 2024, there being no
additions or disposals in the year
st
1,132,863
147.036 1,279,899
1,279 899
Depreciation
As at 1" April 2023
Charge for the year
236,684
9,142
146,579
143
383,263
9,285
374,007
9,256
As at 31 March 2024
245,826
146,722
392,548
383,263
Net book value
887,037
314
887,351
896 636
14 DEBTORS
2024
2023
Amounts owed by Group Company
59,251
61,304
59,251
61,304
12

Great Torrington and District Community Development Trust
15 ANALYSIS OF NET ASSETS
Funds
Restrlcted Unrestrictsd
Total
Funds
2023
Total
2024
Tangible assets
Current assets
Creditors falling due within one year
887,037
314
74,054
887,351
74,054
896,636
72,977
887,037
74,054 961,405
969,613
16 ANALYSIS OF FUNDS
AT 31"
March
2023
Resources
Transfers
AT 31.
March
2024
Incoming
Outgoing
General Fund
Charitable trading
-118,711
1,781
10,016
-126,946
Restricted Funds
Capital grants
Leasehold grants
Other grants
954,698
103,950
29,676
954,698
103,950
29,703
2,500
2,473
1,088,324
2,500
2,473
1,088,351
969,613
4,281
12,489
961,405
17 COMPANY LIMITED BY GUARANTEE
The Great Torrington arKI District Community Development Trust Limited is a Charity limited by
guarantee and therefore not having a share capital. In the event of a winding up the members
each undertake to contribute to reducing any defsciency by an amount not exceeding £1. The
number of members as at the 31 March 2024 was 35 (2023, 30).
18 CONTINGENT LIABILITIES
The Charity is the sole member of Genesis (Great Torrington) Limited, a company limited by
guarantee. The extent of the Charity's potential liability at the 31 March 2024 was £1 (2023,
£1).
19 RELATED PARTIES
The Charity holds the lease of the Castle Hill site which is used by Genesis (Great Torrington)
Limited, a company limited by guarantee, of which this company is the sole member.
13