WE ARE
DEVON
Community
Foundation
Devon Community Foundation
{a charitable company limited by guarantee)
Registered charity number 1057923
Trustees, Report and Financial Statements
Year Ended 31 March 2024
Company registered number 03236918
Quality accredyced Dy
UK Comrnunrty Foundatkirs
aTh1ard5 eromj ty
the Cttarty Comrn159on
UK Community
Foundations

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Contents
Page
Trustees, Report
Statement of Trustees, Responsibilities
13
Independent Auditorfs Report
14
Statement of Financial Activities
18
Balance Sheet
19
Cash Flow Statement
20
Notes and Accounting Policies
21

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees Report
The trustees are pleased to present their annual director5. report together with the consolidated
financial statements of the charity and its subsidiaries, Tiverton Educational Foundation and Devon
Social Finan￿ Ltd, for the year ending 31 March 2024, which are also prepared to meet the
requirements for a directors, report and financial statements for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing thelr financial statements in accordance with
the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. In 2023/2024
Devon Community Foundation IDCF) continued to support Devon's communities as outlined in this
report.
Chairfs Report
There was a change in trustees overthe year. We were sad to say goodbye to Graham Howe, Robert
Atwell, Bishop of Exeter, and Peter Holden: all had been long-serving members of the board who
particularly supported the organisation around finance and policy issues. Bishop Robert's speech on
social housing in rural and coastal areas at the House of Lords in July eloquently spoke to the work
that communityfoundations need to engage with in supporting communities facing disadvantage. We
were pleased to recruit Rowan Truscott and Jackie Searle, Bishop of Crediton and Acting Bishop of
Exeter, to the board. The balance between old and new members and diversity of thought have been
key to the continuing development of DCF.
Following the recruitment of Ceri Goddard as the new Chief Executive in September 2022, the new
financial year saw her continuing to Strengthen the organisation's staff team, in particular working
with trustees to develop and recruit to two new posts to head up the delivery of our phllanthropy and
grants work.
Partnership and collaboration were important to all we did. We worked Close￿ with other funders
Including the national Community Foundation network, UKCF, and the South West Funders Forum,
which Ceri co-chaired. This ensured we took advantage of best practice examples and shared our work
with others supporting their communities with local giving. We engaged more closely around
community safety too, working with the High Shertff, the Police and Crime Commissioner and the
Chief Constable to ensure the funds they entrusted to DCF continued to deliverthe best outcomes
possible. As part of developing our environmental work we were pleased to hold events with both
community groups and potential donors to help design future work in this important area. Our work
with the voluntary, community and social enterprise sector was also strengthened by our membership
of the VCSE Assembly.
Food insecurity was a big issue for us in 2023- 2024. We held an event on food insecurlty in North
Devon in October and produced a report in January looking at who faced problems accessing food and
what those Issues were. For instance, the lack of local shops in wral areas and the cost-of-living crisis
were noted, as was the plight of asylum seekers with no recourse to public funds and temporary
housing without adequate cooking facilities. We continued to fund work in this area with the support
of Devon County Council and the Young Foundation, amongst others.
From July we spent time working on getting our new branding developed and that was put in place for
the next financial year {2024/2025). Our regular newsletterwas also reinvigorated, and we undertook

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees, Report contlnued
a review of our digital capacity and potential changes we could make to help us use technology more
effectively and efficiently.
Caroline Harlow
Acting Chair

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees. Report continued
Objectives and Activities
The purpose of the charity Is:
To distribute grant fundlng across Devon, Plymouth and Torbay to local community groups and
organisations that tackle deprivation and disadvantage within their communities and to support
vulnerable people in the county. All the activities of the Charity are wholly aimed at the public benefit
of hlstorlc Devon's residents.
Our Vision, Mission and Activities
Devon Communty Foundation's vision and mission in 2023- 2024 were:
Vision: Thrivlng Devon Communitles
Mlsslon: To support greater equity and flourishing communities with opportunities for everyone in
Devon by connecting communities, donors, and partners to maximise local impact together.
The board of DCF reviewed Its objectives and activities and set its goals for 202312024 in early 2023,
This included ensuring our activities met with the Charity Commission's test on public benefit
alongside our charity purpose. Money was distributed to local community groups and organisations to
address disadvantage and deprivation across the county.
To give some more insight into the worl a few highlights follow.
Philanthropy
The focus in Development and Philanthropy was on strengthening engagement with our current
donors and fund holders, being more visible, and offering opportunities for match funding where
possible. This resulted in additional fvnding to augment public money through a number of different
programmes - CLASP (Communities Local Action for Suicide Prevention). Food Fuel and More, and
Safer Communities {Office of the Pollce and Crime Commissioner).
A mlni appeal for Surviving Winter ralsed £15.000 from those who could afford to donate their Winter
Fuel Payment. We were pleased wlth the response as well as the traction it recelved in the media.
Our relationship with the Sedel-collings Foundation continued to develop, with the Foundation
providing match funding over the year, a5 well as further funds to run a programme to support the
mental health of those working in frontline charTties- Supporting the Supporters.
We would also like to thank Pencarrie Ltd for their generous donation which is supporting early years
work for children and young people.
Fundlng Local Communities
In terms of funding and grant makin& the first half of the financial year saw us run a number of grant
programmes with individual donors {notably Thrive wlth Five, Mobillse and Communty Grants}, while
in the second we ran three large programmes for public bodles: Safer Communities, distributing
Police and Crime Commissioner Funds {matched by other donors); Food Fuel and More, dlstributing
Household Support Fund monies via Devon County Council; and CLASP, as mentioned earller,
distributing funds from Devon and Torbay councils.

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees, Report continued
We also continued to distribute from four Community Benefit Funds (Thorne Farm, Babeleigh Barton,
Diptford and Batsworthy Cross), with the last closed for six months while we reviewed guidance, grant
structure and governance.
At the same time, we planned our approach to grant making for the upcoming three years, reviewing
all of our systems and processes with the aim of creating a more streamlinedljoined-up approach to
grant making across our income streams.
Research and Learning
The year saw us continuing to manage Wellbeing Exeter IWBE} with our partners. We undertook and
launched an impact report that showed the value of the project's community development work
which focused on improving the health and wellbeing outcomes for residents across the city and
Cranbrook.
As mentioned in the Chairfs report. food insecurity was a key focus. We received £97,000 from the
Young Foundation for Food for Thought to undertake work in North Devon bringing together young
people with food producers and caterers to look at ways to gain community benefit by improving local
food production and preparation.
Working across the organisation we convened a Roundtable event in February focusing on the theme
of climate action which provided valuable insight from the VCSE sector, donors and researchers. We
also worked with Plymouth City Council, to establish a new programme to test funding projects that
raise awareness of, and address. male violence against women and girls. Learning from these will
inform our future philanthropy and grant making.
West
06von
VAIIIE OF GIIANTS BY LOCAL AUTHORITY
£54.218
Torridge
£56.011
s%
North Dovon
É232.916
Tortwy
£87.354
Id DOT*
£87.724
T0ignbiidg•
E118,38S
Exotor
£217.091
outh
f'120.549
10%
East D•¥¢
£141.062
South Han
£128266
'io%

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
TOTAL VALUE OF GRAMTS BY ORGAMISATIOM SIZE
£250,(fJO
£227.946
£227.815
£159.803
£165.897
£102.127
£96.3n
£59268
P ts) £5(IXI £SCthto £10.00) to £25.0(n to £50 OCO to £1C0.￿oI0 £250.CO)
£10.OCQ
F25 OC
£so.Ofl) £1CQ CQO f2S),CKJO
AverageAnnual InCune￿ oryantsatton
IIIIIIBER OF GIANTS BY •IGAMISATIOI SIIE
31
28
25
?4
2 J5
io
s.cw *)
Éso.10)
£1fy) (W lo ty*r (250 C

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees, Report continued
Financial Review
The FoundatSon's total Income for the year was £2,534,721 (2023: £2,611,420). The income from
donation5 was £1,245,712 {2023: £1,123,329), charitable activities £898,905 (2023: £1,229,696) and
investments £390,104 (2023: £258,395).
Total expenditure was £2,946,666 (2023: £2,893,982). The expendlture on ralsing funds was £126,792
(2023: £96,596) and on charitable activities £2,515,040 (including grants payable of £2,341,149)
{2023: £2,488,489), (includes grants payable of £2,325,083>.
Net assets at the 31 March 2024 were £11,350,343 (2023: £11,008,310). Ourtotal endowment
Increased by 6.83% to £9,362,397 (2023: £8,763,684). There were new donatlons to the endowment
funds of £14,35112023: £26,882} and the total unrealised gain on investments amounted to £753,978
12023.loss of £407,615).
Consequentlyi unrestricted reserves are now at £536,873 of which £122,000 are designated. Reserves
are needed to bridge the gap between the spending and the receiving of income and to cover
unplanned emergency expenditure. The year end balances on the ￿$trIcted funds of £1,451,073 are
for future grant making and active projects.
Reserves Policy
The trustees have designated £122,000, which is the minimum level of reseNes to allow the
community foundation to operate for a period of 3 months If income streams were significantly
impacted by market conditions. The trustees review the reserves policy each year. At the year end the
unrestricted reserves were £536,873, which was at the upper level.
The trustees believe that it is appropriate to maintain unrestricted funds to ensure:
i. the smooth operation of the Foundation in the event of long-term illness of a member of staff
2. the continuation of activitles in the short term if sources of flow-through grant-making ￿aSed or
diminished
3. the management of medium, or longertenn, fluctuations in Income
4. the financing of obllgations, residual liabilities and redundancies should the Foundation cease to
operate
Going Concern
The Foundation is in the fortunate POSTtion of having a healthy cash-flow projection due to recelving
grant funds before distribution. In addition, the core costs element of the endowment Is secure for
the foreseeable future. This is sufficient to be sure the Foundation can and will continue in perpetuty
and is able to support itself with a reliable source of income.
The three-year f5nancial forecast is reviewed at every board meeting and mitigating action taken when
financial pressures require (for example, recruiting or losing roles as required) and adjusting
expenditure to align with income. The trustees are fully confident that Devon Community Foundation
is a going concern in every sense.

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees, Report continued
Investments
Devon Community Foundation continues to work with Wiltshire Community Foundation, Dorset
Communlty Foundation and Somerset Communty Foundation with a collective agreement for
investment.
The jolnt Investment Committee, with representatives from all fourcommunity Foundations, carries
out scrutiny of our investment performance and Investment Managers. The total return on
endowment investments was Il% in 2023-24.
In consideration of the potential near-term volatilTty of global economies, the trustees declded to
distrlbute 3.5% of endowed value at 31 December 2022 for grant making in 2023-24 and those funds
were distributed in the year.
The Foundatlon has investments with:
Evelyn Partners Llmited
Portwall Place
21 Portwall Lane
Redcliffe
Bristol
BSI 6NA
Sarasln & Partners
Juxon House
100 St. Paul's Churchyard
London
EC4M 8BU
CCLA Investment Management Limited
Senator House
85 Queen Victoria Street
London
EC4V 4ET
Principal Risks and Uncertainties
In 2023-2024, the board of trustees reviewed the risks to the work of Devon Community Foundatlon
as part of reviewing the strategy and in quarterly board meetings.
The global and domestic social, economic and political uncertainty remained a significant risk to our
income both from donations and investments. The CEO worked with the board to continue a strategic
review started in December 2022, to consider the best strategy to ensure the long-term sustalnability
and maximum irnpact of the Foundation.

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees, Report continued
The Future
As we lookforward, 202412025 will still see us offering support to local philanthropists, working to
nderstand our communities, needs and aspirations, and supporting voluntary and community groups
doing arnazing work to tackle issue5. Supporting Devon's communities through philanthropy, grant
making and research will be our core work, with a new mission and values agreed by the trustee5 and
staff team to reflect this focused approach. By engaging with our donors, charities and the public and
private sectors, DCF trustees and the staff team will continue to work, strengthening communities and
tackling inequalities to contribute to a Devon that works for everyone, today and tomorrow.
We will be ensuring we continue to recruit new trustees with the skills and experience the Foundatlon
needs to deliver our mission. A full governance review will be completed to update the Memorandum
and Articles of Association and other governan￿ policies and prO￿dureS to meet current best
practice standards. We will also be looking at how we can involve more volunteers in our work, for
instance, through sub-committees working on spectFic areas of work such as funding, specific themes
such as community safety or specific areas of Devon such as Tiverton. Building on the strategic
development work started in 2023- 2024 and ensuring a long-term business plan is in place will be
key to the work of the board now and beyond the next year. With Ceri Goddard leaving in July 2024,
Dinah Cox took on the role of Interim Chief Executive after stepping down from her role as Chair. It Is
hoped that a new Chief Executive will be in post by early 2025. Caroline Harlow has taken on the role
of Acting Chair to guide the organisation through this year.
Internally we will be working with other Communtty Foundations to improve our digital capacity using
a shared Salesforce Customer Relationship Management System. This will allow accurate data to be
shared between organisations and save our staff time with the administrative tasks needed to carry
out our work. We will also develop a plan to implement other changes that were recommended in our
review of the use of digital technolo￿.
Collaboration will feature as a priority- For example. building on our community safety work with the
High Sheriff, the Police and Crime Commissioner and the Chief Constable to ensure the funds they
entrusted to DCF continued to deliver the best outcornes possible. As Caroline Harlow, acting chair, is
due to take on the role of High Sheriff in 202512026, we will see this area of work continue to
strengthen.
Food insecurity Is another area that continues to be a big issue for Devon communities as mentioned
in the Trustees, report earlier in this document. It is essential we work in partnership to tackle this
and we will be looking to further develop our research and delivery around improving access to food
with local communities, Devon County Council, the Young Foundation and other interested parties.
Mental wellbeing has been a concern to the Foundation for many years and sadly mental health Issues
impact the lives of so many in our communities. We are however pleased that in 2024- 2025 our
relationship with the Sedel-collings Foundation and others will continue, in particular with Supporting
the Supporters, a much-needed grants programme supporting the mental health of those working in
frontline charities.
In grant rnaklng we will also continue to fund groups through our small grants prograrnme and from
four Community Benefit Funds (Thorne Farm, Babeleigh Barton, Diptford and Batsworthy Cross). We
will be reinvigorating our broader grantmaking processes looking at the potentlal for multl-year grants
and the most effective ways to fund areas of work such as the environment.
The coming year wlll see us hand over management of Wellbeing Exeter IWBEI to the charity CoLab.
We are delighted to say that we will however, continue to support the strategic element of the work.

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees. Report continued
Our close working relationship with the voluntary and communlty sector is important to us and we
will continue to strengthen our engagement through a State of the Sector research report and
membership of the VCSE Assembly.
Structure, Governance and Management
Governlng Document
Devon Community Foundation is a company limited by guarantee governed by its Memorandum and
Articles of Association dated 21 November 21)J6 and a registered charity with the Charity Commission.
As direttors of the company, trustees must ensure it is run in accordance with the Articles of
AssociatSon and the law In general.
The board is responsible and accountable forthe strategic direction of the Devon Community
Foundation and collectively sets and monitors the vision, mission, values and strategies forthe charity.
As guardians of the charity, all trustees are equally responsible in law forthe board's actions and
decisions. They must ensure that the organisation is performing well and is delivering the outcomes
for which it is set up, in accordance with its Memorandum and Articles of Association.
Trustees are bound by an overriding duty, individually and as a board, to act reasonably at all times in
the interests of the organisation and of its present and future beneficiaries and members. Each and
every trustee must act personally and not as a representative of any group or organisation.
The maximum nurnber of trustees is determined by the company in general meeting and the
minimum number of members of the board of trustees is thr￿.
None of our trustees receive remuneration or other benefit from their work with the charity afthough
they may claim reasonable expenses if incurred when representing the charity. These expenses are
claimed through the Foundation's financial process for expense claims.
The pay of all staff is revlewed at board, annually, and the board of trustees agrees any pay increases
or alterations considering the current and projected financial perfomiance and stability of the
organisation.
Appointment of Trustees
The board is responsible for the appointment of trustees. The initial term of office for trustees is fÉve
years, and a trustee is then eligiblefor r&election for a further five years as decided by the board.
There is provision for the second temi to be extended at the discretion of the board should they
perceive there to be a risk of either a) losing vital knowledge and skills from the board and thereby
endangering the progress of the Foundation and its board or b) having insufficient numbers on the
board for it to function effectively.
In anticipation of retlring trustees, the board decides what skills and attributes are needed in new
trustees and a recruitment process commences, There are role descriptions for trustees and specific
role descriptions for those taking on additional responsibilities such as the chair.
Role5 are advertised in appropriate media requesting a CV and statement. This is reviewed by the
board and suitable candidates invited to an interview wrth the Chair, one or two other trustees and
the Chief Executive. If, after interview, everyone wishes to proceed, both board and applicant, then
they are nominated and elected at the next available board meeting.
New trustees spend time with the Chief Executive and the team to gain further understanding of the
Foundation's work. Furthertraining needs are identrfied as required and training opportunities
(including conferences and tralning coursesl are publicised to trustees. An annual appraisal is held
10

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustees. Report contlnued
between the Chair and each trustee to ensure the needs of the trustee and the organisation continue
to be met.
Organisation
The Chief Executive has been delegated overall responsibilityfor the effective operational running of
the Foundation, wlth support and guidan￿ from the Chair and Board of Trustees. The Chief Executive
is responsible to the trustees for financial management and the development of income streams, for
staff management, for managing an effective funding distribution system and for developing
relationships with a wide range of stakeholders.
The board meets quarterly (virtually where appropriate) with papers provided one week prior to each
meeting. In addition, the Chief Executive meets with the Chair every six weeks to discuss the strateglc
direction of the organisation. There is also an annual strategy awayday for trustees and staff as well as
ad hoc meetings and working groups as necessary in relation to a variety of Internal and external
Issues.
Related Parties
The Wace Family and Hely-Hutchinson Family Funds were created from donations by Sally Wace and
Caroline Harlow respectively, who are current DCF Trustees.
The Plymouth Drake Foundation works closely with Devon Community Foundation on several DCF
Plymouth-based funds.
Devon Community Foundation became the Trustee of the TNerton Education Foundation ITEF) in
Ottober 2014. The grantmaking element of TEF has passed to Devon Community Foundation to take
advantage of the improved efficiencies this brings through the creation of a named fund within DCF.
Devon Social Finance Ltd is a wholly owned subsidlary of Devon Community Foundation incorporated
in the UK on 9June 2017
Reference and Administrative details
Presldent
David Fursdon, HM Lord Lieutenant of Devon
Patrons
Countess of Arran Sir lan Amory
Sir Eric Dancer, KCVO, CBE, JP
Trustees and Dlrertors
Dinah Cox, OBE (Chair until 28 July 2024, then Interim Chief Executive)
Caroline Harlow (Acting Chair from 28 July 2024)
Rt. Rev. Robert Atwell Bishop of Exeter {resigned 27 September 2023)
Edward Burnand (Vice Chair)
Peter Holden (resigned 27 February 2024)
Sally Wace
Rev. Georgina Radford
Ann Holman
Rt. Rev. Jacqueline Searle (appointed 2 August 2023)
Rowan Truscott (appointed 27 September 2023)

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trustee< Report continued
Management
The day-to-day management of Devon Community Foundation was delegated to the Chief Executive,
Ceri Goddard {12th September 2022- 28 July 2024), who was responsible for implementation of the
Foundation's strategy. Dinah Cox took on the Interlm Chief Executive role in July 2024.
The Foundation employed 15 staff {10.7 FfEI who undertake the core functions of grant makln&
programmes, communications, development, insight, finance and administration.
Devon Community Foundatlon was founded in 1996 and is a registered Charlty, number 1057923 and
a company limlted by guarantee, registered number 03236918.
Registered & Correspondence Office:
The Factory
Leat Street
Tiverton
Devon
EX16 5LL
Professional Advlsers
Bankers:
Charitles Aid Foundation Kings Hill
West Malling
Kent
ME19 4TA
Statutory Auditor:
PKF Francis Clark
Centenary House
Peninsular Park
Rydon Lane
Exeter
EX2 7XE
Solicitors:
Womble Bond Dickinson (UK)
LLP Ballard House
West Hoe Road
Plymouth
PLI 3AE
It is confirmed that the flnancial statements comply wtth current statutory requirements, with the
Statement of Recommended Practice for charity accounting, the Charities Act 2011 and wlth the
requirements of the Memorandum and Articles of Association.
Audltors
PKF Francis Clark has indicated its willingness to contlnue in office and a resolution to re-appoint them
was proposed and agreed at the Foundation's AGM.
73

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Trusteeg Report continued
Trustees, responsibilities in relation to the financial statements
The charity trustees {who are also direttors of Devon Community Foundation for the purposes of
company lawl are responsible for preparing a Trustees, Annual Report and financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a
true and fairview of the state of affairs of the charitable company and the group and of the incoming
resources and application of resour￿, includlng the income and expenditure, of the charitable group
for that period. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP;
make judgements and estlmates that are reasonable and prudent.
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements. and
5. prepare the financial statements on the 'going concern, basis unless it is inapproprlate to
presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them to ensure that the financlal
statements cornply with the Companies Act 2tK)6. The trustees are also responsible for safeguarding
the assets of the charity and the group and hence taking reasonable steps for the prevention and
detection of fraud and other ir￿gUIarities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governlng the preparation and dissemination of financial statements may differ from legislation in
other jurisdittions.
In so far as the trustees are aware at the time of approving ourtrustees, annual report:
there is no relevant audit information, being information needed by the auditor in connection
with preparing their report, of which the charity's auditor is unaware; and
the trustees, having made enquiries of fellow directors and the group's auditorthat they ought
to have individually taken, have each taken all steps that they are obliged to take as a dlrector
in orderto make thernselves aware of any relevant audit information and to establlsh that the
audStor is aware of that information.
The trustees approve the Trustees. Annual Report, including approval in their capacity as company
directors of the Strategic Report contained within it, on 11 November 2024.
Caroline Harlow
Acting Chair
JA-JUloD
13

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Independent Auditorfs Report to the Members of Devon Community
Foundation
Oplnlon
We have audited thefinancial statements of Devon Community Foundation (the"Charity"I fortheyear ended
31 March 2D24, whlch comprise Group Statement of Flnanclal Actlvitles, Group and Parent Company Balance
Sheets, Statement of Consolidated Cash flows and notes to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their preparation 15
applicable law and United ￿ngdoM Accounting Standards {United Kingdom Generally Accepted Accounting
Practice), i ncluding Financial Reporting Standard 102: The Financial Reporting Standard appllcable in the UK
and Republic of Ireland.
In our opinion, the financial statements:
give a true and fairview of the state of thegroup's and charitvs affairs as at 31 March 2024 and of its
income and expenditure for the yearthen ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice;
have been prepared in accordan￿ with the requirements of the Companies Art 2006.
Basis for opinion
We conducted our audit in accordance with. International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilities for the audit of the financial statements section of our report. We are independent of the
Charity in accordance with the ethical requirements that are relevantto our audit of the financi31 statements
in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
Concluslons relating to going concern
In auditing the financial statements, we have conduded that the directors, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identlfied any materlal uncertainties relating to events
or conditions that, indlvidually or collectively, may cast significant doubt on the Charity's ability to continue
as a golng concern for a period of at least twelve months from when the original financial statements were
authorised for issue.
Our responsibilities and the responsibilities of the directors With respectto going concern are described in the
relevant sections of this report.
14

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Independent Auditorfs Report to the Members of Devon Community
Foundation (continued)
Other infonnation
The trustees are responsible for the other Infomiation. The other informatlon comprises the information
included in the annual report other than the financial statements and our auditorfs report thereon. Our
opinion onthefinanclalstatementsdoesnot coverthe otherinformation and,excepttothe extentotherwise
expllcitly stated in our report, we do not express any form of assurance conclusion thereon.
In connectSon wlth our audit of the financial statements, our responsibility IS to read the other information
and, in doing so. consider whether the other information is materially inconsistent wlth the financial
statements or our knowledge obtained in the audlt or otherwise appear5 to be materially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required to determine
whetherthere isa material misstatementinthefinancial statementsora material misstatementofthe other
information. If, based on the work we have perfornied, we conclude that there is a material misstatement
of this other information. we are required to report that fact.
We have nothlng to report In this regard.
Opinions on other matters prescrlbed by the Companies Act 21MJ6
In our opinion, based on the work undertaken In the course of the audit:
the information given in thetrustee5' report, (which includesthe directors, report prepared forthe
purposes of company law) forthefinancial yearfor which the financial statements are prepared is
Consistent wlth the financial statements; and
the directors, report included within the trustees, report have been prepared In accordance with
applicable legal requlrements.
Matters on whith we are requlred to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the Course
of the audit, we have not identified material misstatements in the trustees, report.
We have nothing to report in respett of the following matters in relatlon to which the Companies Art 20Q6
requlres us to report to you if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been
recelved from branches not visited by us; or
financial statements are not in agreement with the accounting records and returns; or
certain disclosures oftrustÈes' remuneration specified by laware not made; or
we have not obtained all the information and explanations necessary for the purposes of our audit
15

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Independent Auditorfs Report to the Members of Devon Community
Foundation (continued)
Responsibilitles of the trustees
As explained more fully In the Statement of Trustees, Responsibilities set out on page 13, the trustees (who
are a150 the directors of the charity for the purposes of company law) are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal
control as they determine is necessary to enable the preparation of financial statement5 that are free from
material misstatement, whether due to fraud or error.
In preparlng the financial statements, the trustees are responsible for assessing the Charitls ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and usingthe going
concern basis of accounting unless thetrustees either intend to liquidatethe Charity orto cease operations,
or have no realistic alternative but to do so.
Our responsibilities for the audlt of the financial ststements
Our objectives are to obtaln reasonable assurnnce about whether the financlal statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that
includes our opinlon. Reasonable assuran￿ is a high level of assurance. but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud orerror and are considered material rf, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
flnancial statements.
Irregularlties, including fraud, are instances of non-compliance with laws and regulations. We deslgn
procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
Including fraud is detailed below:
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is
applicable to the entity and the sector in which it operates to identify the key laws and regulations. Key
laws and regulations identified were the Charities Act 2011, Companies Act 2006, tax legislation,
safeguarding and irregularities relating to the protection of data and health and safety. A further
description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at: W￿￿.frCorg.Uvaudit0rsresponSibIlitie$. This description forms part of our
audltorfs report.
We also considered managemenvs manipulation incentives and opportunitiesforfraudulent overstatement
of profit, and fraud risk more generally.
Based on this we designed our audit procedures to identify irregularitles. Our audit procedures involved
the followlng:
Review of Trustees meeting minutes for irregularities with laws and regulation5;
Review of any heaFth and safety incidentsthat have been reported underthe Reportingof Injuries,
Diseases and Dangerous Occurrences Regulations 2013 ( RIDDOR") during the period.
Review of any controls in relation to GDPR and enquiries of management as to the outcome
of any reportable breaches;
16

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Independent Auditorfs Report to the Members of Devon Community
Foundation (continued)
On a sample basis confirmed that expendfture was properly authorised and made in accordance
with the terms of the relevant fund;
Auditingthe risk of management override of controls, includingthrough testing journal entrles and other
adjustments for approprlateness, and evaluating he business rationale of significant transactions outside
the normal course of business;
Review of financial statement disclosures and testing to support documentatlon to assess compliance
with applicable laws and regulations; and
Revlew of Charlty Commission and Companies House filings
Because of the inherent limitatlons of an audit, there is a risk that we wlll not detect all irregularities, including
those leading to a materlal misstatement in the financial statements. This risk increases the further removed non-
compliance with laws and regulations Is from the events and transactions reflected in the financial statements as
we are less likely to become aware of instances of non-compliance. The risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may Involve
deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the FinancSal
Reporting Council's website at: www.frc.org.uvauditorsresponsibilities. This description forms part of our
auditorfs report.
Use of our Report
This report is made solely to the Charitvs members, as a body. tn accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the Chariws members those
matters we are required to state to them in an auditorf5 report and for no other purpose, To the fullest extent
permitted by law, we do not accept orassume responsibilltyto anyoneotherthan thecharl￿$ members as a body,
for our audit work, forthls report, orfor the opinlons we have fom)ed.
Neil Hltchings {SeniorStatutoryAuditor}
For and on behalf of PKF FRANCIS CLARK
Chartered Accountants & StatutoryAuditor
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX27XE
DATE 12 December 2024
17

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Consolidated Statement of Financlal Activities
(including consolidated Income and expenditure account)
For the year ended 31 March 2024
Unrestricted
funds
(note 181
Restrlcted Endowment
fvnds
funds
(note 19) {note 20)
2024
2023
Note
Income and endowments from:
Donatlons & Legodes
7,935
1,223,426
14.351
1245,712 1,123,329
Charftable ortivitles
36,172
862.733
898,905 1,229,696
Investments
46,036
109.304
234,764
390,104
258,395
Total Income and end(w4ments
Expendlture on:
Roisingfvnds
Costs ofgeneratingvoluntary income
Churltoble artivltles
Grants Payable
Administration of grant making
Other 5UPPOrt Costs
2.195A63
249.115
2,534,721 2,611,420
126,792
126,792
96,593
2,341,149
2.341.149 2,325.083
173.891
163,406
304,834
308,900
173,891
241,476
718
63.358
Total expenditure
542,159
2A04.507
2.946,666 2,893,982
Net 8alns/llosses) on investments
Net Incomel lexpendlture)
Transfers between funds
Net movement in funds
Reconciliatlon In funds:
Fund balances brought forward
Fund balances caThied fonvard
26,258
1425,758)
335.082
190.676}
727,720
976,835
1378.122)
598,713
753,978 1407,6151
342,033 1690,1771
1209.0441
43,¢yio
(166.004)
20121
342.033 1690,1771
627,549
536,873
1,617,077
IA51.073
8,763,684 11,1)08,310 11,698,487
9,362,397
11.350,343 11,008,310
21
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure der5ve from continuing activtties.
18

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Balance Sheets
2024
2023
Consolldated
Company
Consolidated
Company
Note
Flxed Assets:
Intan8ible flxed assets
Tangible fixed assets
Investments- listed
Investments- in 8roup
li
3,384
268,903
10,092036
7,896
271,517
9,345,124
7.896
5,517
9,345,124
Icrt)
12
13
2,903
10,092.836
100
Total flxed assets
10,365,123
10,099.223
9,624,537
9,358,637
Current Assets:
Debtors amounts falling
due wlthin one year
Debtors amounts greater
than one year
Cash in bank
14
229,761
295,100
28,266
85,780
14a
56,373
1228,153
97,780
1.103.259
59,039
1,589,007
100,446
1,466,701
15
Total current assets
1.514,287
IA96,139
1.676,312
1,652,927
iiabilitles:
Creditors amounts falllng
due withln oneyear
16
(453.018)
1444.528)
1216,4901
1211,0011
Net current assets
1,061,269
I￿51.610
1,459,822
1,441,926
Creditors amounts
greater than one year
16
(76.049)
176,0491
Total net assets
17
11.350,343
11,150,834
11,C(18.310
10,800,563
The funds of the charlty:
Endowmentfunds
Restricted funds
Unrestdrted funds
20
9,362397
1,451,073
536,873
9,096.397
1,473,253
581,184
8,763,684
1,617,077
627,549
8,497,684
1,639,507
663,372
19
18
Total charlty funds
21
11.350,343
11,150,834
11.008,310
10,800,563
The surplus of the charlty only was £350,271.
The trustees have prepared group financial statements in accordance with section 398 of the Companies Act
2006 and section 138 of the Charities Act 2011. These financial statements are prepared in accordance wlth the
special provisions of Part 15 of the Companies Act relating to small companie5 and constitute the annual
flnancial statements required bythe Companies Act 2006 and are for circulation to members of the company.
The notes at pages 21 to 43 form part of these financial statements
Caroline Harlow, Chair of trustees on behalf of the trustees
Approved by the trustees on 11 IC52
Company registratlon number: 03236918
19
o)

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Consolidated Cash Flow Statement
For the year ended 31 March 2024
Group
2024
Group
2023
Cash flows from operatlng actlvltles:
Cash provldedl{used in) by operating activitie5
463353)
303,655
Cash flows from Investlng actlvTrtles:
Investment Income
268,797
258,395
Purchase / Sale of investments
Purchase of property & equipment
Purchase of intangible assets
Cash provided byl (used in) investing artlvltles
(180,649)
(645,215)
14,876)
88,148
1391,6961
Cash ftows from financlng actlvftles:
Receipt of endowment
Cash provided by (used In) flnanclng actlvftles
14351
14.351
26,882
26,882
Increase/(decrease) in cash and equivalents in the reportlng
perlod
{360.854)
161,159}
Cash and cash equlvalents In the beglnnlng of the reportlng
perlod
1,589,007
1,650,166
Cash and cash equlvalents In the end
of the reportin8 period
1,228,153
1,589,007
Group
2024
Group
2023
Reconciliation of net inc0melexpendl￿re to net
cash flow operatlng artlvllles
Net Income/{expendfture) for the reportin8 period
Adjustynents for:
Receipt of endowment
Depreciation tharges
IGalnsl Ilosses on investments
Investment income
Increase/ Idecreasel In creditors
Ilncreasel / decrease in debtors
342,033
{690,1771
(14.351)
7.126
{567,063)
(268.797)
236,528
(198,829)
126,882}
6,980
1,023,738
1258,3951
260
248,131
IProfltl or loss on sale of fixed asset
Net cash provlded by (used In) operatlng activftles
1463.353)
303,655

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements
Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertalnty in the
preparation of the financial statements are as follows: _
Basis of preparation
The flnanclal statements have been prepared underthe historlcal cost convention, as modified bythe revaluation
of investments. The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended practi￿ applicable to charities preparing their financial statements in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}
(Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
and the Companies Act 2006 and the Charities Act 2011.
The trustees have assessed the charitvs activities with regard to the Charity Commission's guidance on public
beneflt. The Foundation meets the definition of a public benefrt entity under FRS 102.
Devon Community Foundation was incorporated in England UK. The registered office is details in the Trustees,
report.
No separate SOFA has been presented forthe charty alone as permitted by section 408 of the companie5 Act
2006
The functional currency of Devon Community Foundation is considered to be pounds sterling because it is the
primary economic environment in which the Charity operates.
Preparation of financial statements on a going concem basls
The Foundation is in the fortunate position of having a healthy cash-flow projection due to receiving grant fund5
before distribution. In addition, the core costs element {DCF share) of the endowrnent is secure for the
foreseeable future which is sufficient to ensure the Foundation can and will continue in perpetuity, and is able to
support itself with a reliable source of income.
The three yearfinancial forecast is reviewed at every Board meeting and mitigating action taken when financial
pressures require (for example recruiting or10sing roles as required) and adjusting the expenditure to meet the
expected income.
Consolidated financial statements
These financial statements consolidate the results of the charity and its wholly-owned subsidiaries Tiverton
Educational Foundation ITEFI and Devon Social Finance LTD (DSF) on a line by line basis. A separate Statement
21

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnancial statements (continued)
of Financial Activities, or income and expenditure account, for the charity itself is not presented because the
charity has taken advantage of the exemptlons afforded by section 408 of the Companies Act 2006. The Charlty
became the sole corporate trustee of Tiverton Educational Foundation on 6 October 2014.
Income
Income from grants is recognised when the charity has entitlement to the fijnds, any conditions attached to the
grants have been met, it is probable that the income will be received and the arnount can be measured reliably
and is not deferred. Income received in advance is deferred until the criteria for income recognition are met.
For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has
been granted, the estate has been finalised and notification has been made by the executorlsl to the Trust that a
distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, In whole or in
part, is only considered probable when the amount can be measured reliably and the Charity has been notrfied of
the executorfs intention to make a distribution. Where legacies have been notrfied to the charity, or the Charity is
aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a
treated as a contlngent asset and d￿ClOSed if material.
Donated services and facilities
Donated professional services and donated facilitles are recognised as income when the Charity has control over
the item, any conditions associated with the donated item have been met, the receipt of economic benefit from
the use by the Charity of the item is probable and that economic benefrt can be measured reliably.
Donated professional services and donated facilitles are recognised on the basis of the value of the grft to the
Charity which is the amount the Charity would have been willing to payto obtain services or facilities of
equivalent economic benefit on the open Market; a corresponding amount is then recognised in expenditure in
the period of receipt.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the
Charity: this is normally upon notification of interest paid or payable by the bank.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated
funds are unrestricted of the Charity which trustees have decided at their discretion to set aside to use for a
specific purpose. Restricted funds are donations which the donor has specified are to be solely used for
particular areas of the Foundation's work orforspecific projects being undertaken by the Foundation.
Endowment funds are invested and the income from these funds is applied to the relevant restricted or
unrestricted income funds.

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements (continued)
Investment income is allocated to the endowment funds. Wtthdrawals from the endowment fund have been
made at a rate of 3.5 % (2023: 3.5%) which the trustees review annually and considerto be a reasonable
withdrawal rate.
Expenditure and Irrecoverable VAT
Expendrture Is recognised once there Is a legal or constructive obligation to make a payment to a third party, it is
probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is classifsed under the following activity headings:
Costs of ralslng funds comprise the costs of fund development or Ma￿etInFjadvertiSlng.
Expenditure on charitable activities includes the costs of grant makin& property expenses and project activities
undertaken to further the purposes of the charity and their associated support costs.
Other expendlture represents those items not falling into any other heading.
Expenditure is allocated between the above headings in the Statement of Financial Activities on a direct basis apart
from staff costs, which are allocated based upon the arnount of time staff work on each area.
Irrecoverable VAT is charged as a cost agalnst the activity for which the expenditure was incurred.
Allocation of support costs
Support costs include those costs associated with meeting the constitutional and statutory requlrements of the
Charity and include costs linked to the strategic management of the Charity. Support costs include back office
costs, finance, personnel, payroll and governance costs which support the Foundations activities.
Taxation
Devon Community Foundation has charitable status and uses its funds for charitable purposes. Therefore, no
taxation is included in these financial statements and is exempt from tax on income and gains falling wlthln section
505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gain5 Act 1992. The charity is not registered
for Value Added Tax, and expenditure therefore includes VAT where appropriate.
Investments
Investments are stated at their quoted market value at the end of the year.
The SOFA includes the net gains and losses on revaluations and disposals throughout the year. Realised gains and
losses forthe year are calculated based on market value brought forward plus any additions in the year.
23

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial ststements (continued)
Intanglble fixed assets
Webslte
Depreciation is provided to write off the cost of intangible fixed assets by equal instalments over their estimated
useful economic life. The estimated useful economic lrfe of the website is 3 years.
Tanglble fixed assets and depreciation
All assets costing more than £1,000 are capitalised and are included at cost. Depreciation is provided to write off
the cost of tangible fixed assets by equal instalments over their estimated useful economic lives. Computer and
office equipment are written off using straight line over 3 years.
Investment property at fair value.
47A Barrington Street property is treated as an investment property under charities SORP {FRS 1021. A valuation
was carried out by an independent expert in 2006. The trustees have considered revaluation and declded the
property is measured at fair value (using a rental yield 6% of value of property) therefore the value remains at
£141,OCKI and will be revalued at each reporting date.
The Foundation is constrained by the Trust Deed a5 to the use of the land asset. A part of this land must be used
as the site of Castle School and is subject to reverter rights. On this basis the Trustees have revalued the asset
and reclassrfied the land as investment property.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due,
Cash at bank
Cash at bank includes short term highly liquid investments with a short maturity of three months or less from the
date of acquisition or opening of the deposit or similar account.
Creditors and provlslons
Creditors and provlsions a￿ recognised where the charity has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised attheir settlement amount after
allowing for any trade discounts due.
24

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements (contlnued)
Flnanclal Instruments
The Foundation only has financial assets and financial liabillties of a kind that qualify as basic flnancial instruments.
Baslc flnancial Instruments are initially recognised at transaction value and subsequently measured at their
settlement value with the exception of bank loans which are subsequently measured at amortised cost using the
effective interest method.
Penslons
Penslon provtsion is in place for all staff in line with current pension regulations.
2. Legal status of the Foundation
The Foundation is a company limited by guarantee and has no share capital.
3. Income from donations and legacies
Donations
2024
2023
Donations & Gifts
Income tax refunded
1.245.712
1,123,329
1.245,712
1,123,329
The income from donations and legacies was £1,245.71212023". £1,123,329) ofvthich £7,935 was unrestricted12023:
£148,973), £1,223,426 was restricted (2023; £947,474) and £14,351 was endowment12023: £26,882). Includes gift aid
income.
4. Income from charitable actlvltles
2024
2023
Grant Income
898,905
898.905
1,229,696
1,229,696
The grant Income was £898,90512023: £1.229,696) of whlch £36,172 was unrestricted12023'. £27,238} and £862,733 was
restricted (2023.. £1,202,458).
25

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnanclal statements (continued)
5. Income from investments
2024
2023
Interest receivable
Investment income
Loan Interest received
Rent from Propertles
23,313
245.235
249
121,307
390.104
8,751
249,058
586
258,395
The income from investments was £390,10412023: £258,395) of which £46,036 was unrestricted12023: £21,016), £109,304
was restrlcted (2023: £9801 and £234.764 was endowment12023: £236.399).
Interest receivable arises from money held in bank accounts, the investment income arises from endowment funds held
with investment managers and loan interest received is interest on social investment loans supporting Voluntary
Cornmunity Social Enterprises. Rent from properties arises from rentals on properties held within the Sarah Wood Fogwell
Fund and Tiverton Educatlonal Foundation.
Income from other artivities
The wholly owned subsidiaryTwerton Educational Foundation is incorporated in the UK (charity number 3067011 and pays
all of its profit to the charity under the gift aid scheme. The registered Offi￿ of the subsidiary is The Factory, Leat Street,
Tiverton, Devon EX16 5LL. A summary of the trading results is shown below:
2024
2023
The summary financlal perfomiance of the subsldlary alone Is:
Income
12.524
117,861)
(5,337)
(5337)
35,000
135,0291
1291
129}
Expenditure
Net incomingl (expendlture)
Retained bn the subsidiary
The assets and Ilabilities of the subsldlary were:
Fixed assets
266,000
266,000
Current assets
Current liabilities
Total net assets
751
(14,771)
14.020)
2,418
Iii,ioii
18,6831
Total Funds
251,980
257.317
28

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnancial statements Icontinued)
The income of £12,524was ￿ntaI from a lease on the property known as 47a Barrington St. The lease is for a term of 7
years dated 24 May,2023 at an initial rentsl rate of £15,000 per annum. with an option to end the lease on 24 May, 2026.
The wholly owned subsldlary Devon Social Finance Ltd was incorporated in the UK on 9 June 2017 (company number
108119771. The registered office of the subsidiary isThe Factory, Leat Street, Tiverton EX16 5LL. A summary of the trading
results are shown below:
2024
2023
The summary flnanclal performance of the subsldiary alone is:
Income
249
9,886
69,561
79,447
Expenditure
Net Incoming/ (expenditure)
3.148
(2,899)
Retalned In the subsldlary
(2A99)
79,447
The assets and Ilabllltles of the subsldlary were:
Current a55ets
Current liabllltles
Totsl net assets
124,995
1177,365)
{52,370)
122,406
1171,8771
149,4711
Total Funds
(52,370)
149,4711
6. Cost of raising funds
Unrestrfrted
Funds
Restricted
Funds
Endowment
Funds
2024
2023
Support staff costs
Fund development costs
Dlrect assoclated costs
99,887
2,721
24.184
126,792
99,887
2.721
24,184
126,792
51,273
42,911
96,593
Expenditure on raising funds was £126,79212023: £96.593) all of which is unrestricted.
27

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnanclal statements (continued)
7. Charitable activities costs
Unrestrlcted
Funds
Endowment
Funds
Restrlrted Funds
2024
2023
Grants Payable
Administration of grant making
Support costs
2.341.149
2.341.149
173.891
304.834
2,325,083
163,406
308,9CM)
173,891
241,476
63.358
415,367
2,404,507
2.819.874
2,797,389
Expenditure on charitable activities was £2,819,874 {2023: £2.797.3891 of which £415,367 was unrestrlcted12023:
£345,091), £2.404,507 was restricted12023: £2,452,298) and £nll was endowment {2023:£nill.
Grants were awarded in the year to other charltles, voluntsry organlsatlons and Indmduals as follows:
2024
Number
278 2.319,729
21,420
286 2.341.149
2024
2023
Number
339 2,321,289
3,794
2,325,083
2023
Other chadties & voluntary organisations
Individua15
Total grant expendlture
344
8. Support costs
Programme
Management Governance
& Evaluation
support
General
Support
Basi5 of
apportionment
2024
2023
Staff costs
General office
Marketing & Promotion
Audit fees
Consultancy
Legal & Professional fees
Buildin8 Repair &
Maintenance
Depreciation
Trustee meetings/training
160,542
714
6,974
61,237
2.378
2.431
41,491
10,855
167.516
61,951
2,378
6.431
41.491
18,576
240,021
20,877
579
4,330
15,829
2,129
Allocated on time
Allocated by staff
Pro8r8mme
Governance
Allocated by Cost
Governance
7.721
4,140
4.140
1.924
427
24,069
628
438
Allocated by Cost
Programme
Governance
1,924
427
161,256
127.717
15,861
304,834
308,900

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial ststements (continued)
9. Net Income/(expenditure) for the year
2024
2023
This is stated after charging:
Depreciation & amortlsatlon
Audlt fees
7,126
13.004
6,980
ii,ioo
10. Staff numbers and costs
The group, on average. employed 15 {2023: 171 part-time staff during the reportlng period, which is equivalent to 10.7 IFTE)
employees12023: 12.51. The emoluments these employee5 were..
2024
2023
Salaries
Social security costs
Pension Costs
360,553
27,177
7,899
395.629
386,461
22,471
7,868
416,800
Staff numbers
2024
Number
0.80
2023
Number
0.82
Management & Governance
Finance
Fund Development
Programmes & Grants
Communications & Administration
Totsl number full time equlvalent
0.47
4.78
2.49
10.74
8.05
1.65
12.52
There were no employees with emoluments above £60,CMJO12023: nill. Pension costs are allocated to activities in proportion
to related staff costs incurred. The only additional benefit to staff members over and above their salary is a pension
provision. The key management personnel of the group comprise of the trustees, the Chief Executive. Head of Finance &
Operatlons, Head of Philanthropy, Head of Grants and Head of Impart. Insight & Learning. The latter three roles were
recruited durin8 the year and the total employee benefits ofthe key management personnel of the group were £183,604
{2023: £85,983}.
Trustees recelved no remuneration {2023: £nil). During the year ended 31 Marth 2024 trustees were reimbursed for
expenses amounting to £75712022: £1,173).
2g

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial ststements (continued)
11. Intanglble fixed assets- group & company
Webslte
Total
Cost
At l Aprfl 2023
Additions
Disposals
13.536
13,536
At 31 March 2024
13,536
13.536
Amortisation
At l April 2023
Charge for the year
Eliminated on disposal
5,640
4,512
4.512
At 31 March 2024
10,152
10.152
Net book values
At 31 March 2024
3,384
3,384
At 31 March 2023
7,896
7,896
12.Tangible fixed assets - company
Property
Computer
Other
Total
Cost
At l April 2023
Additions
Disposals
22.930
9,965
32,895
At 31 March 2024
22.930
9.965
32,895
Depreclatlon
At l April 2023
Charge for the year
Eliminated on disposal
20,539
1,133
6,839
1,481
27,378
2,614
At 31 March 2024
21,672
8,320
29,992
Net book values
At 31 March 2024
1258
1.645
2,903
At 31 March 2023
2391
3,126
5.517
30

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements (contlnued)
Property &
Investment
Property
Tanglble fixed assets- group
cOrnp￿er
Other
Total
Cost
At l Aprll 2023
Addltions
Disposals
266,CKJO
22,930
9,965
298,895
At 31 Marth 2024
266,C
22.930
9,965
298,895
Depreciatlon
At l April 2023
Charge for the year
Ellmlnated on disposal
20,539
1,133
6,839
1,481
27,378
2,614
At 31 March 2024
21,672
8320
29,992
Net book values
At 31 Marth 2024
266,000
1,258
1,645
268.903
At 31 March 2023
266,(MJ)
2,391
3,126
271,517
Investment property comprises of land at the Castle School and a property at 47a Ba￿ingtOn Street.
The Foundation has had the land re-valued by Wickery Holman in June 2017 based on a rentsl yleld calculation as there is a
protected tenant in place.
The Foundation has reviewed 47A Barrington Street and considerthevaluation under FRS 102 to be a fair value.
31

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements (continued)
13. Inve5tments- group and company
Investment
to support
core costs
Endowment
Investments
Market value
2024
2023
At l Aprfl 2023
Additions
Disposals
Unrealised & Realised gains I (losses)
Movement on investment and dividend accounts
4.225
9,340,899
2.832,726
{2,652,0761
771,715
{204,2311
9,345,124
2.832,726
{2,652,0761
771,293
(204,2311
lo,092￿36
9,723,647
1,774,921
11,492.1471
1383,920}
1277,377}
9,345,124
14221
At 31 March 2024
3,803
10.089,033
Listed Investment are detalled as follows:
2024
Market Value
488,009
158,935
423,309
68,822
1.427,964
5,776.445
1,749352
10.092,836
2023
Market Value
734,631
UK Flxed Interest
Overseas Flxed Interest
UK Index Linked
Overseas Index Linked
UK Equities
Overseas Equities
Other
259,392
66,391
1,427,231
4,925,790
1,931,689
9,345,124
Investments are stated at their quoted marketvalue at the end ofthe year.
The SOFA includes the net gains and losses on revaluations and disposals throughout the year. Realised gains and losses for
the year are calculated based on market value brought foThiard plus any additions in the year.
14. Debtors: amounts due within one year- group and company
Group
Company
Group
Company
2024
2024
2023
2023
Loan to subsidiary DSF
Loan
Grant income
Prepayments
Other Debtors
56.521
18,610
17,685
194,344
1,728
10,693
6,273
14.932
2.580
295,100 28,266
51,133
17,685
1.728
5,028
10,206
85,780
18.610
194.344
11,444
s￿63
229,761
32

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnancial ststements (continued)
14a. Debtors: amounts due over one year- group and companv
Group
2024
Company
2024
Group
2023
Company
2023
Loan to 5ubsidlary DSF
Loans
41.407
56,373
97.780
41,407
59,039
100,446
56,373
56,373
59,039
59,039
15. Cash at bank-group and company
Group
2024
Company
2024
Group Company
2023
2023
Revenue accounts:
CAF Current Account
CAF Current Gold Account
CAF Gold Account
CAF DSF Cash Account
CAF DSF 2 Cash Account
54,223
122.(M)O
927,036
46,102
46,102
122,000
122,C(10
1,298,599 1,298,599
i(N),oio
22,296
1,589,007 1,466,701
927.0%
102,627
22,267
1.228.153
1,103259
16. Creditors: amounts falling due within one year
Group
2024
Company
2024
Group
2023
Companv
2023
Trade creditors
Other creditors- HMRC
Other creditors- Grants
Other creditors- TEF
Accrua15 and deferred income
4224
7.733
161,713
4224
7,733
161.713
5,595
6,313
177,334
5,695
6,313
177,334
279,348
453A118
270.858
444.528
27,248
216,490
27,659
211,001
16a. Creditors: amounts falling due over one year
Group
2024
Company
2024
Group
2023
Company
2023
Other creditors- Loans
Other creditors- Grdnts
76049
76,049
76,049
76.049
33

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnanclal statements (continued)
Loans
Future minimum loan recelpts:
2024
Consolidated
2023
Company
Not later than one year
Later than one year and not later than fNe years
76,049
76,049
76,049
76,049
17. Funds of the tharlty
Income and
expendlture
account
10,800,563
At l Aprfl 2023
Surplus for the year
At 31 March 2024
350.271
11,150,834
Funds of the tharlty- 2023 comparative:
Income and
expenditure
account
At l April 2022
Deficit for the year
At 31 Marth 2023
11,570.159
1769,5961
10.800.563
18. Unrestrirted funds - group
Designated
ReseNe Fund
General Fund
Total
Fund balances broughtforward
Incomlng resources
Outgoing resour￿$
Net 8ains/llosses) on Investments
Transfer between funds
Fund balances carrfed forward
505,549
90,143
1542,1591
26,258
335.082
414,873
122,000
627.549
,143
1542,159)
26,258
335,082
536.873
122,000

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements Icontinued)
Unrestricted funds- group 2023 comparative
Deslgnated
Reserve Fund
General Fund
Total
Fund balances brought forward
Incornin8 resources
Outgolng resources
Net gains/llossesl on investments
Transfer between funds
Fund balances carried forward
445,711
197,227
{441,6841
(21,5361
325,831
505,549
122,¢X)O
567,711
197,227
1441,6841
121,536}
325,831
627,549
122.000
19. Restricted funds - group
Brought
Forward
Incoming
resources
Project
Expenditure
Grants
Awarded
31 March
2024
Fund
Transfers
Activistock
Alex Ferryman Foundation
Anchor Fund
Arnold Family
BabeleSgh CE Turbine
Batsworthy Cr055
Beckly Revenue Fund
Blackdown Hills
81undell's
Chiggy Pig
Clare Mllne
Comic & Sport Relief
Communities in Crfsis
Community grants
Cooper family (Stags)
Crimebeat
Dart Harbour
DCC Household Support
DCC Suicide Prevention
DCC Wlnter Support
Devon 100 Club
Devon Emergency Fund
Devon Flood
Devon Coronavlrus RR
Devon On Earth
Devon Ripple
Devonlan
Devonian Leased Property
5,691
580
5.180
12,OC(Il
8,871
36,667
(3.3331
945
{6031
122.008)
11,334
1.311
1,236
{33,3281
{1,5901
110,9201
1120,1561
(7,C((11
136)
13,715
272,621
15,262
1,629
2,636
249
6,727
13,426
287.410
10,928
318
11,812
127,375
249
39,605
49
11,IXI6
149
1,483
19.659
132,8781
149)
{124)
25,308
1,285
2,910
1500}
141,0901
(7,935)
723
7,690
111.CrfJ61
135,8411
{2.lJ)Q)
599
12,694)
768
22,569
9,348
4,110
49.386
10,947
452,OCK)
53,4fX)
{416,8001
145.1601
1937)
49,081
11.883
(1.6831
15,000
(46)
6,141
1,077
71,690
13,801
46,334
1461
15,456
5,169
19.166
14,817
46.334
19,3151
15,0(N)I
121,4381
120,672)
73,962
19,656
35

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Dipford
evon Social Investment
Eagle One
Earth to Earth
Eileen Whitelaw
Foot Anstey
Hazel & Gerald Frankpitt
Hely-Hutchinson
High Sheriff
Hlstorical Exeter Fire Appeal
Give Love Devon
Insplras
Kitsons
Laurie Connor
Mildmay White Family
Mumme Ackford
Neuro Development
Through Movement
North Devon Relief
OPCC Communlty Grants
OPCC PropertyArt Fund
Philip J Milton & Co PIC
Plymouth Drake Foundation
Fund
Posltlve People BBO
Aquarious- Pye
Queen Victoria
Commemoration Fund
Ray Miles
Rew
Rural Devon
Sarah Wood Fogwell
Sedel-collings Foundation
Sovereign Housing
Surviving Winter
Tampon Tax
TCCF- Executive Commlttee
TEF revenue
Thorne Farm
Tiverton Community
Partnership
riverton Learning
Tony Hawks
Torbay Suicide Prevention
Transformlng Aging
Two four
4,082
7.889
989
2,314
11,100)
5.296
7,889
1,772
3279
157
2,683
8,109
783
3,279
1281
1.539
6,187
2.309
{2591
(4.0841
{6)
185
1.832
3,512
10,922
(4,2001
19,0001
12,3091
12.5(XJl
87
3,098
426
9,945
6,138
42
9,981
6,138
1,789
954
971
1,106
14.7981
1,691
1.333
79
26,984
2,645
{2.0001
1.185
12,314
{14.6701
3.731
35,040
4.470
120,0001
110.7071
1,012
48,202
14,0001
{143,6731
153,532)
4,204
4,700
7.142
1,792
276,308
133,333
71,380
780
228,106
17,176)
78
5,121
7,430
1306)
52
78
10,312
71
5,120
IAIO
1.795
4,609
{3,9701
2.888
1,795
4,319
98,988
63,713
29.325
17,794
144
2J28
76,038
2.780
306
3,810
13,820
36,070
3,332
4,189
144
14.1001
123,8141
{118,759
13,3321
11,2001
108.982
172,OCtI
34,500
16,444
{25,598)
{5.175)
(1,639)
5.104
(8201
39,698
(841)
{6,0001
{9,7301
112,7241
46,070
16,345
306
36,176
5,325
25.030
9890
46,066
5,325
21.246
24.495
{4.249)
{840)
{175}
124,030}
175
38

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
VBCT
Wace
Wellbeing Exeter- BCF
We51being Exeter- CB
Wellbeing Exeter- NHS
Charltles Together
Wellbein8 Exeter~ PCN
Wellbelng Exeter- SE
Accelerator
Wellbelng Exeter-sport
England LDP
Wellbeing ExeterTCA
Wellbeing Exeter- Ukralne
Youth Mental Health
23,253
11,938
152,117
169,2021
2116
iio,0001
IiQ,OQM)}
(277.550)
1330,7041
(2501
13,Z53
11,809
82,525
(128,862)
1,807
9,871
(44,6001
255,139
271,044
1,5(KJ
12,5811
11,551)
18)
(13.151)
324,525
{20.058)
{429,5651
133,2091
81.697
289,OCK>
(43.8501
158,413)
22,291
18,575
{2,4081
38.458
49,580
28.883
49.580
IA86
43,750
20,044
50.DJO
147,5411
16,250)
Company
1.639,507 2,195213
(63358) 12,341.1491
IA73,253
Devon Social Investment
122.4301
250
122,1801
Group
1,617,077 2,195A63
43,040
(63,358) (2B41.1491
1,451,073
Explanation of major restricted funds
All restricted funds above are 8rant making funds apart from the Project Funds & Devonian Leased Property listed below.
Devonian Leased Property- Property lease-5hows the devaluation on the lease.
Batwsorthy Cross and Babelei8h Barton are both community benefit funds generated by the installation of alternatlve
energy wind turbines and are directed to benefrt localised geographic communities affected by these wlnd farm5.
Devon Rlpple-To support local communitygroupsand organisations whith offer preventlve work with dlsadvanta8ed
young people up to 19 years old.
OPCC Community Grants- funding for projects and initiatives across Devon that directly impact communities and whlch
align with the Police and Crime Plan of providin8 place-based support for victims and offenders to address local priorities.
DCC Household Support are funds received from Devon County Council, relatingto part of the HSF4 funding provlded bythe
8overnment, to support households in most need of help through the provision of Food. Fuel and More grants to
organisations working wlth vulnerable households and those In most need of support.
Pollce Property/Crimebeat- Helps communities come together with the Police to find solutions to specific and local crime
'hotspots' or issues.
Wellbeing Exeter 15 a programme of social prescribing and community building being delivered by a range of partners with
DCF holding the funds and granting out to local VCSE organisations.
37

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial statements (continued)
19. Restrlcted funds - group lcontinued)
Devon Social Investment- Devon Social Finance make indlvldual loans of up to £150,000 to Voluntsry Community & Social
Enterprises. Thls is funded through contributions from Devon Community Foundation IDCFI and The Growth Fund. The
Growth Fund, is a £50m partnership which uses a combination of grant fundln& made possible thanks to National Lottery
players, and loan finance from Big Society Capital and other ctrinvestors, to address specific gaps in the social Investrnent
market. The programme is delivered by Access through a range of social investors. Grant funding for this programme is
treated a5 restricted funding.
Restricted Funds are funds held by the Foundation for specific activities. They include the yleld from the Endowment Fund
which Is restrlcted for Brant making and Brant programmes. Core costs contributions are made by restrirted funds as agreed
with donors.
Restrlrted funds- group 2023 comparative:
Brou8ht
FoNard
Incoming
resources
Project
Transfers Expendlture
Grants
Awarded
31 March
2023
Fund
Activistock
ex Ferryman
Foundation
Arnold Famlly
Babelelgh CE Turblne
Batsworthy Cr05S
Beckly Revenue Fund
Blackdown Hills
Blundell's
British Red Cross
Chi88y Pig
Clare Milne
Comic & Sport Relief
Communities in Crisls
Community grants
Cooper famlly {Stagsl
Crimebeat
DD McPhail Charitable
Dart Harbour
DCC Household Support
DCC Public Health Fund
DCC Suicide Prevention
DCC Winter Support
Devon 100 Club
Devon Emergency Fund
Devon Flood
Devon Coronavirus RR
Devon On Earth
5.993
1500)
15,7051
iio,0001
5,691
580
io,o)o
1080
2,971
12,169
196,737
1,087
11,228
19,06111
116.823 {19,9401
12,988
1.528
13,4491
{9101
16,210}
17,060}
16,717)
609
13,426
287,410
10,928
318
1,400
5.507
46.996
15.000}
141,996
{16,(MJO)
{5,9951
16,249
6(K)
249
39,605
49
11,006
149
1,483
19,658
50.IJ)O
15.OIXI)
49
25,823
4,176
115161
20,958
{13,3011
{110,7491
85.764
16,313
(7,154)
(4,500)
-00)
175,649 115.967)
20,OCM)
{2,609)
52.9LK)
(7.270)
12,Th)01
1159,6741
117,3911
4,848
(81
3.451
14,383
1.683
15.OCM)
{461
42,670
307
49,081
11,883
1,683
15,000
146}
15,457
5,169
12,5001
4,686
131,899)
4.862
38

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Devon Ripple
Devonian
Devonian Leased
Property
Dipford
Devon Social Investment
150,915
71,113
85,530
22,593
1217,2791
178,889)
19,166
14,817
46,334
46,334
2,422
11,¢Jooi
4,082
7,889
989
Eagle One
Food Insecurity Hub
Foot Anstey
George Earl
Hazel & Gerald Frankpitt
Hely-Hutchlnson
Hlgh Sheriff
Historical Exeter Fire
Appeal
Hobson's Choice
Hospiscare
Glve Love Devon
Inspira5
Kltsons
Laurie Connor
Mildmay White Family
Mumme Ackford
Neuro Development
Through Movement
North Devon Relief
Old Mill
OPCC Community Grants
OPCC Property Att Fund
Philip J Milton &Co PIC
Plymouth Drake
Foundation
Fund
Positive People BBO
Aquarlous- Pye
Queen Victoria
Commemoratlon Fund
Ray Miles
Rew
Rural Devon
Sarah Wood Fogwell
Sedel-collings
Foundation
Soverelgn Housing
Surviving Winter
Tampon Tax
TCCF- Executive
Committee
TEF revenue
141
(4,000)
11.7271
13,2001
125,2¢)Jl
(9,7761
{2,6801
16.IKIO)
1,727
1,509
28,000
3,299
3,512
{2.800)
6,342
14,356
10,922
2,833
3,577
(323)
87
4,084
18,(KM)
118.000)
12,205
5,368
4,947
595
217
230
12.4901
9,945
6,138
3,(￿9
1,691
1,333
79
770
13,996)
1,096
1,116
1.271
14,2001
26.984
11.674
26,984
3,731
4,679
6,6CLI
{600)
110,500 {16,575)
81,600 {12.2401
1,163
51,335
113,0841
16.0001
1171,0031
169.3601
{2,750)
112.118
35,040
2,367
780
228,106
176,771
1,093
2,078
4,730
101,6¢J) (17.807)
192,0621
(7.176}
78
5,121
12,0001
{5.0681
391
S.(￿8
3,826
864
10,540
15,059
1,622
5,448
12,9271
112,0281
17,440
{48,930)
5,298
3,810
13,820
36,070
6,201
IW,000 11s,L￿OI
34,500
4,654
14,5001
1,990
(26,6681
15,9401
3,332
4,189
144
4,736
1710)
110,3031
4,044
10,321
69,848
46.222
(70,0001
46,070
39

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Thorne Fèrm
Tiverton Community
Partnership
Twerton Learnin8
Tony Hawks
Torbay Suicide
Prevention
TransformingAgin8
Two four
VBcr
Wace
Wellbeing Exeter- BCF
Wellbeing Exeter- CB
Wellbein8 Exeter- NHS
Charltles Together
Wellbeing Exeter- PCN
Wellbeing Exeter- SE
Accelerator
Wellbeing Exeter- Sport
England LDP
Wellbelng Exeter TCA
Wellbeing Exeter Living
Options
Wellbeing Exeter
Ukraine
16,948
(1,241)
115,707)
306
306
26.713
5,325
11.515
12.0521
36,176
5,325
25,030
24.995
{32601
3,295
840
175
23,253
11,938
152,117
169,2021
2,116
175
23.253
592
49,638
134,496)
2,750
11,346
395,000 {40,4031
264,859
1.500
12.390)
1249.7281
1299,5651
15001
(1.4621
{172)
149
475.720
24,911
17501
289.OLTrJ 141.171)
137,4611
{387,6491
113,1511
324,525
(11.3751
11,259
29,992
(18,9601
22,291
64.765
1500)
{2.2561
112,429)
12,OiJ)I
49,580
93,871
164,988
28,883
Company
1,863,342
2,151,096
77,367
1127,215)
12,325,083)
1,639,507
Devon Social Investment
122,2461
{184)
122,430)
Group
1,841,096
2.150,912
77.367
1127.2151 12,325,083)
1,617,077

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financial ststements (continued)
20. Expendable Endowment Funds- company
Realised &
unreallsed
Investment Transfer&
proflts/
Outgoing
(losses)
Resources
OIApril
Incoming
2023 Resources
31 Marth
2024
Transfers
Endowment Funds include:
Devon Community Funds
Plyrnouth Funds
7,094,627
1.403.057
213,786
35,329
617,528
110,192
{328,2921
149,8301
7,597,649
IA98,748
**
8A97,684
249,115
n7.720
{378,1221
9,096.397
Devon Community & Plymouth Funds are forthe purpose of financingfuture grant making to local groups and organ5satlons
tackling disadvantage and deprivation in Devon. Plymouth and Torbay.
In partnershlp with Plymouth Drake Foundation- these funds are restricted for use only in the Plymouth City and travel
to work area.
Expendable Endowment Funds - company 2023 comparative
Realised &
unreallsed
Investment Tran5fer&
profftsl
Oirtgoing
Ilosses)
Resources
l Aprll
Incoming
2022 Resources
31 March
2023
Transfers
Endowment Funds include:
Devon Community Funds
Plymouth Funds.
7,544,316
1,479,364
228,098
35.183
1325.9241
(60,1551
{351,8631
{51,3351
7,094,627
1,403,057
9,023,680
263,281
(386,079)
(270,958)
8,497,684
4t

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the flnanclal statements (continued)
Endowment Funds- group
Realised &
unreallsed
Investment Transfers &
profitsl
Outgolng
(lo￿e5)
Resources
l April
Incomlng
2023 Resources
31 March
2024
Trdnsfers
Endowment Funds include:
Devon Community Funds
Plymouth Funds '
7,094,627
1,403.057
213,786
35,329
617.528
110,192
1328,2921
149,8301
7.597,649
IA98,748
riverton Educational Foundation
266,OCrf)
8,763,684
266,000
9362,397
249,115
727.720
(378,122)
Endowment Funds- group 2023 comparative
RealTsed &
unreallsed
Investment
profitsl
(losses)
Transfers &
OutBoin8
Resour￿$
l Aprll
Incomin8
2022 Resources
31 March
2023
Transfers
Endowment Funds include:
Devon Community Funds
Plymouth Funds °
Tlverton Educatlonal Foundadon
7.544,316
1,479,364
266.QCMJ
9,289,680
228,098
35,183
{325,9241
(60.155)
1351,8631
151,3351
7,094,627
1,403,057
266,000
8,763,684
263.281
(386.079)
1403,198)
A total of £378,12212023: £403,198) was transferred from the endowment funds to restricted1£43,0401 and unrestricted
1£335,0821 funds in the year.
21. Analysis of net assets between funds- group
T￿gIble &
Intanglble
Net Current
Investsnents
Total
Endowment funds
Restritted fund5
Unrestrfcted funds
266.000
9,096,397
633.644
362,795
lo,092￿36
9,362,397
1,451,073
536.873
11,350,343
817,429
167,791
985,220
6,287
272.287
42

DEVON COMMUNITY FOUNDATION
Year ended 31 March 2024
Notes to the financlal statements (continued)
Analysis of net assets between funds- group 2023 comparative:
Tan8ible &
Intangible
Assets
Net Current
Assets
Totsl
Endowment funds
Restricted funds
Unrestricted funds
266,CK)O
8,497,684
354,466
492.974
9,345,124
8,763,684
1,617,077
627,549
11,008,310
1.262.611
121,162
1,383.773
13.413
279,413
22. Capital commitments
There were no capital commltments attheyearend.
23. Operatlng leases
2024
Barlngton St
2023
Barrlngton St
Future minimum lease receipts
Not later than one year
Later than one year and not later than
Five Years
15.000
17,178
32,178
43