Charity registration number 1080719 (England and Wales)
Company reglstratlon numbor 3898170
THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
LEGALAND ADMINISTRATIVE INFORMATION
Truslees
Michael Bainbridge
Helen Hemianstein Smith
Emily Showering
Sarah While
Michael Kelly
Thomas McGauTan
Frances De B05dari
Jane Knowles
Anna Lanc&
Neil Polley
(Appointed 8 May 2025)
{Appointed 8 May 2025)
(Appointed 8 May 20251
(Appointed 8 May 2025}
Ex4)fflclo Board Members
Mike Rowlands
Voluntary S8Ctor
Representativ8
Secretary
M R Payne
Senior management
Susan Plac8
Chief Officer: Reports to
Board of Trustees
Charlty numbar
1080719
Company numbar
3898170
Registered office
Th8 Balsam C8ntre
Balsam Park
Wincanlon
Somerset
8A9 9HB
Audltor
David C>wen & Co
17 The Market Place
Devizes
Wiltshire
SN10 1HT
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME194TA
Virgin Money PLC
Jubilee House
Gosforth
Newcastle Upon Tyn8
NE3 4PL

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
CONTENTS
Page
Trustèes, report
Statement of trustees, responsibilities
Independent auditorfs ￿port
Statement of financial activiti8S
Balance sheet
10
ststement of cash flows
11
Not8S to the financial statements
12-24

THE BALSAM CENTRE
Formerly known as Wincanton Comrnunity Venture
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees. who are directors for the purpose of company law. present their annual report and financial slaternents
foi the year ended 31 March 2025.
The financial statements have bean prepared in accordance with the accounting policies set out in note 1 lo the
financial statements and comply with the charity's governing document, the Cornpanies Act 2006 and "Accounting
and RepDrtlng by Charities.. Statement of Recornrnended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
{effective 1 January 2019).
Objectives and activitSes
Alms and objeGtlves
'To improve the health and quality of life of all inhabitants of th8 8r8a of benefit without distinction of age, gender
ce. sexual orienlation or any political, religious or any other opinion. by working wtih sfalutory and voluntary
organisallons, groups, and individuals, to provide accgss to opportunities for education. arts. leisure. and social
welfare..
Vlsion For people to live healthy and happy lives.
Misslon As a Healthy Living Centre, is to provide a rang8 of community based, participatory. purposeful, and life-
han9ing actlvities in a supportive and safe environment which improve people's wellbeing.
Strateglc Alms
Increase our 5eTvice provi8ion to help more people
Broaden the rang8 of our services in response to identified need
Expand our reach to engage more communities
Hlgh Level Outcomes
Improved physical and mental health and wellbeing
RedU￿d social isolalion and loneliness
Stronger and rn0￿ resilient communities
Greater social and community cohesion
The charlty continued lo deliver its established projects throughout the year, working in partnership with VCSFE,
publlc sector and communlty provider5.
Public beneflt
The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activitles the
charity should undertake.
The area of benefit is Wincanlon and its neighbourhood.
The Ba15am Centre exists to improve the health and quality of life of the people of Wincanlon and the
surrounding area.
The Balsam Centre meets its Objects through the provision of a vibrant community hub housing a range of
health, social. educational and cultural activities and service5. It is open lo people of every age. background
and circurnstances.
It is an independent, local. plac8 based charity with an established reputation for delivering innovative, holistic
health and wellbeing servI￿s, with a focus on mental health. It's activities provide a catalyst for change,
reducing health and social inequalities. allowing people to improve their life chances and move from
'surviving" to "thriving"

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Volunteers
The Centre employs a Volunteer Co-ordinator to recruit, deploy and manage a team of up to 140 aclive
volunteers to help run the activities of the Centre.
Achipvemgnts and performance
Significant actiw.ties and achievements againsl objectives
The charity successfully maintained delivery of its core projects and services during the year, building on the work of
previous years. No significant new risks or challenges were identified.
Flnanclal revlew
Therè have be8n no significant events that have impacted the charity this year.
The charity sector faces a continual cycle of funding renewal, and we endeavour to replac8 &xpiring funds with new
funding streams in order to maintain continuity of our core services and activities.
Wher8 th8re are gaps be￿een the change in financial providers, reserves are deployed. Short term projects which
have a natural end may no longer be contlnued.
Financlal Posltlon
Tolal income increased compared to the previous year, in line with expeclations and proportionate to th8 charity's
ongoing activities. Expenditure remained consistent with the delivery of prole¢ls.
Reserves policy
It is the policy of the charity that unrestrfcted funds which have not been designated for a speclfic use should be
mainlained at a level equivalent to six month's expenditure.
The stalernent of financial activities shows that the lolal funds have increased by £118,043 to £1,603.535 as at year
end.
Investment policy
Investment policy
The charity's investment policy is lo
Maintain the real valuè of capital (l.e. to at least protect it against Inflatlon as best as possible)
Deliver a reasonable overall total retum
Generate a sustainable and growing level of income to fund charitable activities
Invest for the medium lo long term (five years plus) in a diversified portfolio
Invest within a risk profile that is commensurate with ihe charitsble objectives
Provide SLrfficient liquidity to fund any shortfalls
The charity's major investmenls are held as managed funds within the Cheviot Global Income & Growth Fund for
Charities which precludes any direct investment in lobacco companies or businesses which make conlroversial
weapons. The remaining fvnds are held in bank deposits which are readily rèalisable should the need arise.
Quilter Cheviot takes account of ESG Issues in their investmenl analysis and decision-making processes and
provides that information to the Tnjstees.
Principal rlsks and uncertainties
The charity holds a Risk Register which incorporates the assessment of all the major risks and 15 reviewed and
updated regularly. There is a Business Ci)nlinuity Plan in the event of a significant incident.
No significant nèw risks were identified during ihe year.

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Identified Risks:
Political Issues leading to changes In policy or funding. This is mitigated by building strong
relalionships wilh local and strategic partners. constant monitoring of the external landscape and by
embedding working practices which allow flexibility.
Loss of major contract or fundlng. This is mitigated by following our fundraising strategy and business
plan, by deliverlng high quality services and activities which build and mainlain our reputation, by
monitoring budgets, by taking a pro-active stance with fund raising and by dlversifying income streams.
IT Systems failure or breaches. This is mitigated by having a continuous maintenance and security plan
for IT with systems managed by experienced IT professionals.
Flnan¢lal Rlsks. These include the posslbility of inarKurale forecasting, financial rnanagement or fraud.
These are mitigated through financial protocols including checks by CEO and Board of Trustees, the
employrnent of suitably qualified and experienced staff, and robust checklng procedures. sufficient counter
signatories and procedures to check accounts for discrepancies, together with a robust recruitment Pro￿S$
and trainlng.
Plans for future periods
The Trustees plan lo mainlaln cuffenl activities in 202￿26 and, where funds allow, to Increase capacity and
delivery. The charity will continue to invest in staff development and organisational infrastructure.
During the current year, the CEO will be reslgning. and a new CEO was been appointed in Novernber 2025 to18ad
the organisalion inlo its next phase.
Structure, governance and management
Nature of governing document
The Balsam Centre is a registered charity in the name of Wincanton Community Venture, ￿gIS1ratIon number
1080719 and Is a Company limited by Guarantee. registration number 3898170.
In February 2025 the name was officially Changed from Wincanton Communily Venture to The Balsam Centre.
The Governlng Documents are the M8morandum and the Articles ofAssoclation.
Organlsatlonal structure
The trustees oversee the affalrs and activities of the charity which are managed by the Chief Executlve
Officer who is supported by salarted staff and volunteers.
The Trustees operate on a voluntsry basis and meet as necessary, there are six scheduled Board meetings
per annum, for this purpose. Where required, decisions are made by majority vote at Trustees, meetings. The
charity benefits from a close worklng relationship belween Trustees, Staff, Volunteers and Partner
organisalions.
The trustees. who are also the directors for the purpose of company law, and who served during the year and up to
th8 date of signature of the financial statements were-
Michael Bainbridge
John Bartholemew
Helen Hemianstein Smilh
Emily Showering
Paul White
Sarah White
Tamsin Graham
Michael Kelly
David Kemp
Thomas McG8uran
Frances De Bosdari
Jane Knowles
Anna Lance
N8il Polley
(Resigned 9 February 2025)
(Resigned 30 April 2025)
(Resigned 10 January 2025)
{Resigned 5 February 2025)
(Appointed 8 May 2025)
(Appointed 8 May 2025)
(Appointed 8 May 2025)
(Appointed 8 May 2025)

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Recruitment and appointment of trustees
The Board of Trustees comprises a group of 9 - 12 Trustees. recruited for their skills and experience with
relevance to the charity.
New Trustees may be invited to join the Board or may put themselves forward. In either case they are
r8quir8d to make a fomial writtèn application. to be inleNiewéd by the Chair of Trustees and to attend
relevant activities including one or more Board meetings as an observer. before being fomially proposed as
a Board member and this being put to a vote. In recruiting new Trustees, the aim is both to maintain and lo
continually improve the Board's knowledge. skills base and capacity in respect of the managemenl and
operatlons of the charity.
None of the Injstees has any beneficial interesl in the company. All of the trustees are members of the company and
guarantee to contribute £10 in the event of a winding up.
Audltor
In accordance with the company's articles. a resolution proposing ihat Davld Owen & Co be reappointed as auditor
of the company will be put at a General Meeting.
Dlsclosure of Inforniatlon to auditor
Each of the trustees has confirmed that Ihere 1$ no infonmation of which they are aware which is relevant to the
audit, but of whlch the auditor is unaware. They have further confirmèd that they hav8 laken appropriate sleps to
identify such relevant information and to establish that the auditor is aware of such infomiation.
The Irust8es' report was approved by the Board of Trustees.
Michael Kelly
Truslee
Susan Pla
Chlef Offlc•r
13 November 2025

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees, who are also the directors of Thè Balsam Centre for the purpose of company law, are responsible for
preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair
vlew of the state of affairs of the charity and of the incoming resources and application of resources, including the
Income and expenditure, of the charitable company for that year.
In preparing thes6 financial statements. the trustees are required lo-
select suitable accounting pollcies and then apply them consistently:
observe the methods and princlples in the Charities SORP-
make judgements and estimates that are iea50nab18 and prudent.,
state whether appllcable UK Accounting Standards have been followed, subject to any materlal departurés
disclosed and explained in the financial slalements; and
prepare the financial slalements on Ihe going concern basls unless it is inappropriale to p￿Surne that the charity
will conlinue in operation.
The trustèes are responsible for keeping adequate accounting records that disclose wilh reasonable accuracy at
any lime the financial position of the charlty and enable thern to ensure that the financlal stalernents comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking
asonable steps for the preventlon and detection of fraud arKi other irregularities.

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE BALSAM CENTRE
Oplnlon
We have audited the financial statements of The Balsam Centre (Ihe 'charity') for Ihe year ended 31 March 2025
whiGh comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the
financial statements, including significant accounting pjlicies. The financial reporting framework that has been
applied in their prepaialion is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK snd Republic of Irgland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial statements:
give a true and fair view of the stste of the tharitable company's affalrs as at 31 March 2025 and of its
incoming resources and application of resources. for the year then ended-,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Audlting {UKI {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs r8sponsibilities for Ihe audit ol
th8 financial statements section of our report. We are independent of the charity In accordanGe wilh the ethical
r8quirements that are relevant lo our audit of the financial 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 i)btsined is sufficienl and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial slatements. we have conduded that the tfUSte8s' use of th8 going concern basis of
accounting In the preparauon of the financlal statements is appropriate.
Based on the work we have perfoimed, we have not identified any material uncertainties relating to events or
conditions Ihat, individually QT GolleGlively, may cast significant doubl on the charily's ability lo continue as a going
concern for a period of al least ￿e1ve months from when the financial slatemenls are aulhorised for issue.
Our r8sponsibililies and the responsibilities of the trustees with respect to going concem arè described in the
relevant Sections of this report.
Other Information
The other information comprises the infomiation included in the annual report other than th8 financial slatemenls
and our auditorfs report thereon. The trustees are responsible for the other infomialion contained within the annual
report. Our opinion on the financial slalements does not cover the other informalion and we do not express any form
of assuranc8 conclusion thereon. Our responsibility is to read the other inlomialion and, in doing so, Consider
whether the other information is materially inconsistent with the financial statements or our knowledg8 obtained in
Ihe course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsist8nci8S
or apparent matertal misslalements, we are required to determine vthether this glves rise to a material misstatement
In the financial statements th8mselves. If. based on the work we have perfomied, we conclude that there is a
material misstatement of this other information. we are required to report that fact.
We have nothing to report in Ihis regard.
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires us to report to you if. in our opinion:
the information given in the financial statements is inconsistent in any material respect with the truslees,
report., or
sufficient accounting records have not been kepi. or
the financial statements are not in agreement with the accounting records: or
we have not received all Ihe inforrnation and explanations we require for our audit.

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BALSAM CENTRE
Responsibllities of Irustees
As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the
charlly for the purpose of company law, are responsible for the preparation of the financial slaternents and for being
satisfied that they give a Irue and fair view. and for such inlemal control as the trustees determine is necessary to
enable the preparation of financial statements that are fre8 from material misstatement, whether due to fraud or
error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern. disGlosing, as applicable, matters related to going concern and using the going
concem basis of accounting unless the Irustees either intend to liquidate Ihe charitable company or to cease
operalions, or have no realistic altemative but to do so.
Auditor's responsibilities for the audlt of the flnanclal statements
We have been appointed as auditor under section 144 of the Chartiies Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectlves are to oblaln reasonabl8 assurance about whether the financlal ststements as a whole are free from
material misstatement, whether due to Iraud or 8rror. and to issue an auditols report that Includes our opinion.
Reasonable assurancè Is a high level of assurance but is not a guarantee that an audlt conducted in accordance
with ISAS (UK) wlll always delect a malerial misstatement when il exists. Misslalements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence
the economlc declsions of users taken on the basi$ of these financial statements.
The exlent to which our procedures are capable of detecting I￿egulaTitie5, including fraud, is detailed below.
We obtalned an understsnding of laws and regulations that affect the charftable company,
focuslng on those that had a direct effect on the financial statements or that had a fundamental
effect on Its operations. Key laws and regulations that we identlfled included the Companies Act,
the Charltles Act, data protection l&gislation and employment legislatlon.
We enqulred of the trustees, reviewed correspondence with the Charity Commission and
reviewed trustees. meeting minutes for evidence of nonvcompliance with relevant laws and
Tegulations. We also reviewed controls the trustees have in place to ensure Complian￿,
We gained an understanding of tho controls that the trustees have in place to prevent and detect
fraud. We enquired of the trustees about any incidences of fraud that had taken place during the
accounting period
The risk of fraud and non-compliance with laws and regulations and fraud was discussed within
the audit team and lesls were planned and perfornied to address these risks. We identified the
potential for fraud in the following areas,. misappropriation of cash and other assets, undisclosed
related party transactions oulside the normal course of business and misstatement of the
property valuation

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE BALSAM CENTRE
We reviewed financial statements disclosures and tested to supporting documentslion lo
assess compliance with relevant laws and regulations discussed above.
The engagement partner considers Ihe engagement leam colleclively had the appropriate
competence and capabilities to identify or recognise non-compliance with laws and
regulations.
We enquired of the trustees about actual and potential litigation and claims
We performed analytical procedures to identify any unusual or unexpected relationships
that might indicate risks of material misstatement due to fraud.
In addrèssing Ihe risk of fraud due to management override of intemal controls we tested
the appropriateness ol journal entries and other adjustments throughout the pariod and
assessed whether Ihe judgements made in making accounting estimates were indicative ol
a potential bias. We also carried oul a review for transadions outside the normal course of
business
Due to the Inherent limltations of an audil, ther8 is an unavoidable risk that we may not have detected some
malerlal mlsstatements In the financial slalements. ev8n though we have properly planned and perfomed our audlt
In accordance wilh auditing standards. For example, as with any audit. there remained a higher risk of non-delection
of irregularities, as these may involve collusion, forgery. intenlional omissions, misrepresentations. or the override of
internal controls.
We are nol responslble for preventing fraud or non-compliance with laws and regulations and cannot be expected to
detect all fraud and non-compliance with laws and regulations
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https:11
www.frc.org.uklauditorsresponsibililies. This description forms part of our audilorfs report.
Use of our report
This report is made solely to the charity's truslees, as a body. in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's truslees
those matters we are required to State to them in an auditor's report and for no other purpose. To th6 fullest extent
permitled by law, we do not accept or assume responsibility to anyone other than the charlty and the charity's
truslees as a body, for our audil work, for this report, or for the opinions we have fomed.
David Owen & Co
Chartered A¢¢ountants
Statutory Auditor
17 The Market Place
Devizes
Wiltshire
SN10 1HT
David Owen & Co is eligible for appointmenl as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under sectyon 1212 of the Companies Act 2CM)6.

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Rostricted
funds
funds
2025
2025
Total Unrestrlctèd Restricted
fund5
funds
2024
2024
Total
2025
2024
Notes
Income from:
Donations and legacies
Charitable activities
Investments
134,820
409,481
26.138
691,856
826,676
409.481
26.138
130,069
318.111
17,597
507.715
637,784
318,111
17.597
Total Income
570.439
691.856 1.262.295
465,777
507,715
973.492
Expendlture on:
Raising funds
Charitable aclivltles
1.042
493.746
1.042
647.635 1,141,381
15
520.538
15
515.392 1.035,930
Total expenditure
494.788
647,635 1,142,423
520.553
515,392 1,035,945
Net gainsl{losses) on
investments
12
(1,829)
(1,829)
40,922
40,922
Net Incomel(expendlturè) and
movement in funds
73,822
44,221
118,043
(13,854)
(7.6771
(21,531)
Reconclllation of funds:
Fund balances at 1 April 2024
558.873
926.619 1,485.492
572,727
934,296 1,507,023
Fund balances at 31 March
2025
632,695
970.840 1,603.535
558,873
926,619 1,485,492
The statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure
detive from Gontinuing activities.

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
BALANCE SHEET
ASAT 31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
Investments
14
15
830,886
455.163
764.600
443.073
1,286.049
1,207,673
Current assets
Debtors
Cash at bank and in hand
16
25,731
374.833
75,759
347,509
400.564
423,268
Credltors: amounts falllng due within
one year
17
83,078
145,449
Net current assels
317.486
277.819
Total assets less current Ilabllltles
1.603.535
1,485,492
The funds ol the charity
Restricted Income funds
Unrestricted funds
20
21
970.840
632.695
926,619
558.873
1,603,535
1,485,492
The company is entitled to the exemption from the audit requirement conlained in section 477 of the Companies Act
2006. for Ihe year ended 31 March 2025. although an audit has been carried out ur)der section 144 of th8 Charities
Act2011.
The directors acknowledge their responsibilities for complying wilh the requirements of thè Companies Act 2006
wlth respect 10 8ecounting records and Ihe preparation of financial ststemenls.
The members have not required the company to obtain an audit of its financial statements under Ihe requirements
of the Companies Act 2006, for Ihe year in question in aGGordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable lo companies subject
to the small companies regime.
The financial statements were approved by the Iruslees on 13 November 2025
Michael Kolly
Trustee
Susan Place
Chief Officer
Company registration number 3898170 (England and Wales)
10-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating activities
Cash generated fromllabsorbed by)
operations
25
83,441
(86.645)
Investlng activities
Purchase of tangible fixed assets
Purchase of investments
Investment income receiv8d
(68,336)
(13,919)
26,138
(12.830)
17,597
Net cash (used In)Igen8rated from Investlng
actlvltles
(56,117)
4.767
Net cash generalod from flnancing activitles
Net increaselldecrease) in Cash and cash
equivalents
27,324
{81,878)
Cash and cash equivalents al beginning ofyear
347,509
429,387
Cash and cash equlvalents at end of year
374,833
347,509
11

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity information
The Balsam Centre is a private company limited by guarantee inmrporated in England and Wales. The
registered office is The Balsam Cenlre, Balsam Park. Wincanton. Somersel. BA9 9HB.
Each of the trustees is liable to contribule an amount not exceeding £1 towards the assets of Ihè charily in
the event of liquidation.
Th8 charity is a public benefit entity as defined by the Charities Ad 2011.
1.1 Accountlng conventlon
The financial statements have been prepa￿d in accordance with the ¢harity's Articles of Association, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" ("FRS 102") and the Charities SORP 'Accounting and Reporting by Charities: Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (effective 1 January 20191. The
harity Is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, whlch is the functional currency of the charity. Monetary
amounts in these financial statements ale rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to inclucle the
revaluation of freehold properties and certain financial instrumenls at fair value. The principal accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial slalemenls, the Iruslees have a reasonable expectation that the charity
has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basi5 of accounting in preparing the financial statements.
The trustees consider that there are no material un￿rtaIntieS about the charity's ability to continue as a going
concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustee5 in furtherance of their charitable
objectives.
Restricted fvnds are subjecl to specific condltions by donors or 9ranlors as to how they may be used. The
purposes and uses of the restricted fvnds are sel out in Ihe notes to the financial statements.
Endowment funds are subject to specific ¢onditions by donors that the capitsl must be maintained by the
charity.
1.4 Incom8
Income is reco9nised when the charity is legally entitled to it after any perfomiance conditions have been mel.
the amounts can be measured reliably, and it is probable that income will be received.
Donations are recognised when the charity has been notified in writing of both the amount and settlement
date. In the event that a donation is subjeGt to conditions that require a level of performance by the
charity before the charity is entitled to the funds. the income is deferred and not recognised until either
those conditions are fully mel, or the fulfilment of those conditions is wholly within the control of the
charity and it is probable that these conditions will be fulfilled in the reporting period.
12-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
{Contlnued)
Grants Receivable
Grants are recognised wh8n the charity has an entitlement to the funds and any conditions Ilnked to the
grants have been mel. Where perfomance condltions are attached to the grant and are yet to be met, the
Income is recognised as a liability and included on the balance sheet as deferred income to be released.
Investment Income
Dlvidends are recognised once the dividend has been declared and notification has been recelved of th8
dlvldènd due.
1.5 Expenditure
Expenditure is rocognised once there is a legal or construclive obligation to transfer econom1¢ beneflt lo a
third party, il is probable Ihat a transfer of economiG benefits will be required in setdement, and the amount of
the obligation can be measured reliably.
All costs are allocated to the applicable expenditure heading that aggregate similar costs to thal category.
Where costs cannot be directly attribuled lo particular headlngs they have been allocat￿ on a basis
onsistent wllh the use of resources. with central staff costs allocated on the basis of time spent. and
depreciation chargès allocated on the portion of the asset's use. Other support cost5 are allocaled based
on the spread of staff costs.
Ralslng funds
These are costs incurred in attracting voluntary Income, the management of investments and those
Incurrèd in trading aclivilies that raise funds.
Charitable actlvltles
Charitable expendilure comprises these costs incurred by the charity in Ihe dellvery of its activities and
services for its beneficiarfes. It includes both costs that can be allocated directly lo such activities and those
costs of an indirect nature necessary to SUPPOrt them.
Governance costs
These include the costs attributable to Ihe charity's compliance with constitutional and statutory requlrements,
including audit, strateglc management and trustees, m88tings and reimbursed expenses.
1.6 Tangible fixed assets
Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impalrment105ses.
Depreciation is recognised so as to write off the cost or valuation of assets less thelr residual values over their
useful lives on th8 following bases:
Freehold land and buildings
Other Flxed Assets
2% straight Ilne on improvements
15% reducing balan¢e
Freehold land is not deprecialed.
The gain or loss arising on the disposal of an asset is determined as the dFfference befv4e8n the sale proceeds
and the carrylng value of the asset, and is recognised in the statement of financial activities.
1.7 Investments
Investments ar8 initially measured at transaction pri￿ excluding transaction costs, and are subsequently
measured at fair value at each reporting dale. Changes in fair value are recognised in nel incom81
{expenditUTel for the year. Transaction costs are expensed as incurred.
13-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting poll¢les
Icontlnuedl
1.8 Impairment of fixed assets
Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impaimient loss. If any such indication
exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impalrmant
loss (if any).
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand. deposits hald at call with banks, other short-term liquid
investrnents with original maturities of three months or18ss. and bank overdrafts. Bank overdrafts ale shown
within borrowings in current liabilities.
1.10 Finan¢lal Instruments
The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Olher Flnancial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial Instnjmenls are recognised in the charitys balance sheet when the charity becomes party lo the
contractual provisions of lh8 instrument.
Financi81 assets and liabllilies are offset. with the net amounts presented in Ihe financial ststemenls, wh8n
there is a lègally enforceable righl to set off the reco9nised amounts and there Is an intentlon to settle on a net
basis or to reali5e the asset and settle the liability simultaneously.
Basic linancial assets
Baslc financial assets, which include debtors and cash and bank balances, are initially measured at
transactlon price Including transaction cosls and are subsequently carried at amortised cost using the effective
interest method unless the arrangement Constitules a financing transaction, where the transactlon is
measured at the present value of the future receipts discounted al a market rate of interest. FSnanclal assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Baslc financial liabilities, including creditors and bank loans are inilially recognised al transaction price unless
the arrangement conslltules a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cosl. uslng the effective interest rate method.
Trade creditors aTe obligations to pay for goods or services that have been acquired in the ordinary courso of
operations from suppliers. Amounls payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequenlly measured at amortised cost using the effective intsrest method.
Derecognltlon of nnanclal Ilabllitles
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.11 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Flnance Act 2010
and therefore il meets the definition of a charitabte company for UK corporation lax purposes.
Accordingly. the charity is potenlially exempt from iaxation in respect of income or capital gain5 received
within categories covered by Chapter 3 Part 11 of th8 Corporation Tax Act 2010 or Section 256 of the
Taxation of Chargeable Gains Act 1992, lo the extent that such income or gains are applied exclusively to
charitable purposes.
14-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Icontlnued)
1.12 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
re￿ived.
Terfflination benefits are recognised immediately as an expansa whèn thè charity is demonstrably committed
to terminate th8 émployment of an employee or to provide temiination benefits.
1.13 Rotiremont beneflts
Payments to defined contribution retiremenl benefit schemes are charged as an expense as they fall due,
Critical accountlng estlmates and judgemonts
In the applicalion of the charity's accounting policiès. the tnjstees are required to make judgem8nls, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily app8rent from other
sources. The @slimales and associated assumptions are based on historical èxperience and other factors that
are considered to b8 relevant, Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognlsed in the period in which the estimate is revlsed where the revision affects only that
period, or in the period of the revision and future periods where Ihe revision affects both Current and future
periods.
Crltlcal Judgements
Tangible fixed assets
The annual depreciation charge for tsngible fixed assets is sensilive to changes in the estSmated useful
economic lives and residual values of the as5el
Income from donations and legacles
Unrestricted Restrlcted
funds
funds
2025
2025
Tolal Unrestricted Restrlctad
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Grants
98.920
35,9Crf)
98.920
727.756
122,069
8,000
122,069
515,715
691,856
507,715
134,820
691.856
826.676
130,069
507,715
637,784
15-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from charitable activities
Unrestricted
funds
2025
Unrestricted
funds
2024
Charltable Income
Charitable aclivitl8S
Other income
404,181
5,300
312,063
6,048
409,481
318,111
Income from investments
Unrestricted Unrestrlcted
funds
funds
2025
2024
Income Irom listed investments
Interest receivable
13,768
12,370
12.768
4.829
26,138
17,597
Expenditure on raising funds
Unrestrieted Unrestrlcted
funds
funds
2025
2024
Fundraislng and publlclty
Other fundraising costs
1,008
Investment management
15
Total costs
1,042
15
16-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expendlture on charitable activities
Charitable
Charitable
expenditure expenditure
2025
2024
Dlrect costs
Staff costs
Charitable expenditure
868,261
168,141
802,044
128,818
1,036.402
930,862
Share of support and governance Costs (see note 8
Support
Governance
95,379
9,600
92,708
12,360
1.141.381
1.035,930
Analysis by fund
Unrestricted funds
Restricted funds general
493.746
647,635
520,538
515,392
1.141,381
1,035,930
Support costs allocated to activities
2025
2024
Staff costs
Depreciation
Office expensès
Light heat and water
PremSses costs
Other expenses
G0Veman￿ costs
37,817
2,050
27,515
9,416
9,208
9.373
9,600
49,333
760
17,336
7,247
5,486
12,546
12,360
104.979
105,068
Analysed between:
Charitable expenditure
104.979
105,068
Not movement in funds
2025
2024
The net movement in funds is stated after chargingl{crediting)'.
Fees payable to the charivs auditor.
- for the audit of the charity's financial slatements
for other financial seryices
Depreciation of owned tangible fixed assets
9.600
9,000
2,500
760
2.050
17-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Trustees
None of the trustees lor any persons connected with them) received any remuneration or benefits from the
charity during the year.
11 Employees
The average monthly number of employees during Ihe year was:
2025
Number
2024
Number
49
46
Employment costs
2025
2024
Wages and salaries
Social security costs
Other pension costs
830,638
60,359
15,081
782,055
55,717
13,605
906,078
851,377
There were no employees whose annual remuneration was mole than £60,000.
Remuneration of key management personnel
The trust conslders its key management personnel comprise the Chief Executive Officer and the Finance
Manager. The iemuneralion including 8mployers pension conlrlbutions of the key management personnel is
as follows.
2025
2024
Aggregate compensation
79,897
95,957
12 Gains and losses on investments
Unrestricted Unrestricted
funds
funds
2025
2024
Gainsl(losses) arising on..
Revaluation of inveslmenls
11.829)
40.922
13 Taxation
The charity is exempt from laxation on ils activities because all its income is applied for charitable purposes.
18-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Tangible fixed assets
Frèehold land Othèr Fix•d
and buildlngs
A55ets
Total
Cost or valuation
Al 1 April 2024
Additions
762,156
68.336
10,516
772,672
68,336
At 31 March 2025
830.492
10.516
841.008
Depreciation and impaimient
At 1 April 2024
Oepreclation charged in the year
486
1.610
7,586
440
8,072
2.050
At 31 March 2025
2,096
8,026
10,122
Carrylng amount
At 31 March 2025
828,396
2,490
830.886
At 31 March 2024
761.670
2,930
764.600
The land and buildings were independently valued on Ihe 1 November 2017 and are shown at the revalued
amount of £750,000 plus improvements.
Al 31 March 2025, had the revalued freehold land and buildlngs been carried at hSslorlc cost less accumulated
depreclalion and accumulated impaimient losses. their caryin9 amount would have been approxlmately
£612,76012024- £546.034).
15 Flxed asset Investments
Llsted
Investments
Cost or valuation
At 1 Aprll 2024
Additions
Valuation ohanges
443,073
13,919
(1,829)
At 31 March 2025
455.163
Carrying amounl
AÉ 31 March 2025
455,163
At 31 March 2024
443,073
19-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15 Fixed asset investments
(Continued)
Flxed asset investments revalued
All investments are carried at their fair value. Investrnents in equilies and fixed inleTest securitles are all traded
on quoted public markets. The basis of fair value for the quoted investments is equivalent to the market value.
using the bid price. Asset sales and purchases are recognised at the date of trade at cost I thal 15 their
transaction value).
16 Debtors
2025
2024
Amounts falling due wlthin one year:
Trade debtors
Other debtors
Prepayments and accrued income
7,055
6.914
11.762
56,670
9,654
9,435
25,731
75,759
17 Creditors: amounts falllng duo wllhln one year
2025
2024
Notes
Other taxation and social security
Deferred income
Trade creditors
Accruals
14,392
30,685
25,652
12,349
12,449
100,218
21,106
11,676
18
83,078
145,449
18 Deferred In¢ome
2025
2024
Other deferred income
30.685
100,218
Deferred income is included in the financial ststements as follows:
2025
2024
Deferred income is induded within:
Current liabilities
30.685
100,218
Movements in the year:
-20-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Deferred Income
(Continued
D8ferred Income at 1 April 2024
Released from prewous periods
Resources deferred in the year
100.218
1100,218)
30,685
75.049
(75.049)
100.218
Deferred income at 31 March 2025
30,685
100,218
The deferred income comprises of grants re￿ived. These have been defe￿ed as the associated performanc8
relaled conditions are unfulfilled at the year end.
19 Retirement benefit schemes
2025
2Q24
Deflned contribution schemes
Charge to profit or loss in respect of defined contribution schemes
15,081
13,605
The charity opera18s a defined ¢ontribulion pension scheme for all quallfying employees. The assels of the
scheme are held separalely from those of the charity in an IndeperKlently administ8red fund.
20 Restrleted funds
The restricted funds of the charity comprise the unexpended balanc8s of donations and grants held on trust
subject to specific conditions by donors as to how they may be us8d.
At 1 Aprll
2024
Incoming
resDurces
Resources At 31 March
oxpended
2025
Restricted Property Reserve
Other Restricted Funds
750,000
176.619
750,000
220,840
691,856
(647,635)
926,619
691,856
(647,635)
970,840
Previous year:
At 1 April
2023
Incomlng
rgsources
Resources At 31 March
expended
2024
Restricted Property Reserve
Other Restricled Funds
750,000
184,296
750,000
176,619
507.715
(515.392)
934,296
507,715
(515,392)
926,619
21

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
21 Unrestricted funds
The unrestricted funds of the Charity comprise the unexpended balances of donations and grants which are
not subjecl to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside oul of unrestricled funds by the trustees for specific purposes.
At 1 April
2024
Incoming Resources
resources
expended
Transfers
Gains and At 31 March
losses
2025
Designated Fund5
Building
Malntenance
Reserve
Conkers
Community
Nursery
Reserve
General
Reserve
Men's Shed
70,000
70.000
95,000
95,000
285,000
4,570
285.000
4.570
454,570
454.570
General funds
104,303
570.439
494,788
(1,829)
178.125
558.873
570,439
(494,788)
(1,829)
632.695
Previous year:
At 1 Aprll
2023
Ineomlng
resources
Resources
expended
Transfèrs
Galns and At 31 March
losses
2024
Bullding
Maintenance
Reserv6
Conkers
Community
Nursery
Reserve
General
Reserve
Men's Shed
General funds
70,000
70,000
95,000
95,000
285,000
4.570
118.157
285,000
4,570
104,303
465,777
{520.553)
40.922
572,727
465,777
{520.553)
40,922
558,873
The Designated Funds exist to ring fence the monies allocated to cover futu￿ areas of expenditure in
particular areas as decided by the trustees relating lo the nursery, building maintenance and a general
expense reserve. In addition the Men's Shed project balance is held in a designated reseNe since it may
become a separate Irading entity at a future date.
-22-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
22 Analysls of net assets between funds
Unrestricted
funds
2025
Rastricted
funds
2025
Total
2025
At 31 March 2025:
Tangible assets
Investments
Current asselsl(liabililies)
80.886
288,544
263,265
750.000
166,619
54.221
830,886
455,163
317,486
632,695
970,840
1,603,535
Unre51ricted
funds
2024
Restrlcted
funds
2024
Total
2024
At 31 March 2024:
Tanglble assets
Investments
Current asselsl(118bllities)
14,600
276,454
267,819
750,000
166.619
10.000
764,600
443,073
277,819
558,873
926,619
1,485,492
23 Operattng lease commitrnents
Lessee
At the reporting 8nd date the charity had outstsnding commitments for future minimum lease payments under
nonacancellable operating leases, which fall due as follows:
2025
2024
Within one year
Bet￿een two and five years
In over five years
1,291
3,551
1,076
2,959
1.076
4,842
5,111
24 Related party tran5a¢tions
Donations without conditions totaling £3,834 was received by the charity frorn related parties in Ihe year (2024
£8,752>.
There were no other rèlated paty transactions during the year.
-23-

THE BALSAM CENTRE
Formerly known as Wincanton Community Venture
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
25 Cash generated from operatlons
2025
2024
Surplusl{deficitl for the year
118,043
(21.531)
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tsngible fixed a5sels
Legacy income
126,138)
1,829
2,050
(17.597)
(40.922)
760
(182.245)
Movemenls in y￿rkIng Gapitsl:
Decreasel(increase) in debtors
Increase in creditors
(Decreaseyincrease in def￿r8d income
50,028
7,162
169,533)
(49,406)
16.882
25.169
Cash generated froml{absorbed by) operations
83,441
{268.890)
26 Analysls ol changes In net funds
The charity had no malerial debt during the y8ar.
-24-