**REGISTERED COMPANY NUMBER: 4238939 (England and Wales) REGISTERED CHARITY NUMBER: 1088242** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

**FOR** 

**ESTUARY LEAGUE OF FRIENDS** 



**ESTUARY LEAGUE OF FRIENDS** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|10|
|Independent Examiner's Report||11||
|Statement of Financial Activities||12||
|Balance Sheet|13|to|14|
|Cash Flow Statement and notes||15||
|Notes to the Financial Statements|16|to|26|





## **ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended 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 ACTIVITIES** 

## **Objectives and Policies** 

The Objects of the Charity shall be as follows: 

- The advancement of health by relieving sickness and preserving health amongst the people living permanently or temporarily in Exeter and East Devon; 

- The advancement of education to residents of Exeter and East Devon; 

- To provide or assist in the provisions of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals living permanently or temporarily in Exeter and East Devon who have need of such facilities by reason of youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their condition of life. 

In furtherance of these objects but not otherwise the trustees shall have power to establish or secure the establishment of a Community Hub in Topsham in Devon and to maintain and manage such a building for the activities promoted by the Charity in furtherance of the above objects. 

## **OBJECTIVES AND ACTIVITIES** 

## **Chairman's Report** 


This has been another successful year for The Estuary League of Friends. It is fair to say that the world has changed since COVID-19. We live in more turbulent times and, as a result, we sometimes find ourselves measuring success in different ways. Today, success includes recognising and admiring the resilience and flexibility of our staff and volunteers who adapt to the changing needs in our community as well as shifts in the national and global landscape; it includes being courageous enough to try out new and resourceful ways of supporting those most in need. 

Innovations from the last year include the introduction of: 

- A **Community Food Fridge** for Topsham which is in daily demand and brings new people into our community Hub, where they gain access to other support services, 

- Regular **Soft Play Sessions** for families and young children, alongside a range of other 

- A new **Stroke Group** , 

- Monthly Drop-in Clinics with local **Police Community Support Officers** , 

- Diversifying services on offer from **Topsham Post Office** in its first year operating from the new, larger space in our Hub. 

These innovations come at a time when our own costs are rising, our staff feel the impact of cost-of-living and need support, we are finding it harder to attract and retain committed staff especially for vital care work, fewer local people are stepping forward to offer their time as volunteers, and worryingly, income from fundraising and donations has become increasingly difficult to come by. We have seen more local charities and groups close their doors for the last time, putting increased pressure on those who, like us, remain. 

1 



## **ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

In the face of these challenges, we have sometimes had to make difficult decisions. Estuary is needed more than ever, especially by the most vulnerable those who are struggling due to age, frailty, disability, ill health and financial hardship. These are the people we were set up to serve in 1987 and we remain determined to do all we can to ensure that Estuary continues to be there for those who need us most not just next year but for decades to come. 

This year, reviewing benefit entitlements, accessing discounts and grants, as well as form filling, has been one of the fast-growing areas of our work. We have seen how especially important this is for local people with the highest support needs. They may be elderly, disabled, living with chronic and/or terminal illness. For them, turning down the heating isn’t a practical option. They simply can’t risk falling ill as this could lead to a life-threatening situation. Yet, being on fixed incomes such as the State Pension makes it impossible for them to meet the rising costs of energy bills without extra help. 

In 2023/2024, our 32 dedicated employees and 45 committed regular volunteers supported 694 local people including 401 of our community’s most vulnerable residents. We also welcomed over 2,800+ local people each week to our busy purpose-built community Hub, Nancy Potter House, to experience our many on-site services, activities, groups and amenities including Topsham Post Office, Topsham Library (run by Devon Libraries Unlimited) and our much-loved Bradbury Café. 

Our volunteers are our lifeblood. We were founded by local people giving their time to care for others and this principle is still at the heart of all we do. Last year, our committed volunteers gave a total of 2,498 hours of their time to supporting our community which equates to an in-kind contribution worth an estimated £26,029 based on national minimum wage. 

Also in 2023/2024, we held our annual **Classic Car Show** fundraiser, welcoming over 3,500+ visitors and with 235 classic cars on show. The event raised a wonderful £9,225 to help fund Estuary’s ongoing work in the community. We started fundraising for a new **Wheelchair Adapted Vehicle** so we can help more of the most vulnerable people in our rural community make important journeys with our assistance to access vital medical appointments in settings across Devon, and to access services and activities delivered daily from our community Hub. 

We celebrated the wonderful contribution of our Post Office Clerk, Malcolm, who retired this year. Malcolm was one of the founding team responsible for establishing the much-loved **Topsham Post Office** at Nancy Potter House in 2019 after our community's local Post Office closed (this came in the wake of losing all the banks on our high street) leaving local people forced to travel miles to access any postal or banking services. 

Thank you, Malcolm, for your years of service at Topsham Post Office. 

2 



## **ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

We are so grateful to each and every person who helped us help others last year our staff, our volunteers, local people who donated and fundraised for us, those who frequented our charity shops, and all our partners who supported us to offer much needed services and support. Thanks to you, Estuary has continued providing care, comfort and support to all those in need in our community. 

Income for the year to 31st March 2024 totalled £661,381 (compared to £625,714 in the previous year). This is a split between unrestricted £535,518 and restricted £125,863 (2022/2023 unrestricted £445,416 and restricted £180,297). Expenditure for the year totalled £623,836 (2022/2023 £601,878). 

We received a legacy worth £87,500 in March 2024. We are indebted to those individuals in our community who are so generous in remembering Estuary in their wills. This legacy allowed us to finish the year with a comfortable surplus. However, we are all too aware that fundraising is considerably harder and with a major two-year National Lottery Community Fund grant coming to an end in 2023/2024, we anticipate having to draw down on our reserves in 2024/2025 to maintain a level of delivery which will meet the needs of our community. 

Enjoying our Board Games social club. 

A popular Post-box Topper making local people smile made by our very own Craft Group. 

3 



**ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

Keeping warm and wreath making at our Estuary Ladies social group. 

Festive Bingo in The Bradbury Café. 

4 



**ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

Children from Topsham Primary School delivering handmade Christmas Cards for local people experiencing isolation due to ill health, frailty, age, and who live alone or are caring for a loved one. 

Our new Soft Play kit set up ready for local children to come and play. 

5 



## **ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

Activities for local children now include Lego Club and Animal Sensory. 

Key achievements in the twelve months to 31st March 2024: 

- 16,663 home care visits to vulnerable households, supporting 694 people, of whom, 401 are considered to have high level needs and vulnerabilities due to age, disability, chronic illness, terminal illness and/or caring for a loved one, 

- 3,537 hours of befriending, 

- 428 doorstep deliveries of groceries and/or community shopping trips, 

- 63 prescriptions collected and delivered, 

- 3,699 assisted transports and 34 transports for wheelchair users, 

- 542 gift and activity bags handmade and delivered to local people in need on special occasions 

- 6,911 hot meals and 78 Christmas Lunches prepared and delivered to vulnerable households, 

- 11,274 meals or hot snacks served from our very own community café, The Bradbury Café, 

- 83 emergency food parcels and food vouchers delivered to local families experiencing food poverty, 

- 47 Free Legal Advice sessions held, 

- 412 free hot soups and rolls provided to visitors of our warm room, 

- 400+ free meals provided to children in the school holidays, 

- 821 children visited (400+ families) our new soft play, 

- 150+ children participating in school holidays activities over Christmas and Easter, Summer Holidays, 

- 97 mums and children attending regular weekly classes, 

- 91 people helped with benefit reviews, sign posting and form filling to access entitlements including Attendance Allowance and Blue Badges, 

- 34+ different activities on offer each month from Nancy Potter House with over 500 people participating, 

- 70 showers taken by local people including people experiencing homelessness in our community, 

- 3,988 service washes through our laundry, and a further 936 self-service washes, 

- 210 sets of toenails cut every seven weeks, 

- Average weekly footfall of 2,800 people through our Community Hub, Nancy Potter House (total footfall during the year of 235,874), 

- Post Office served 31,910 transactions. 

6 



## **ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

Despite the important role we play in promoting the health and wellbeing of our community, particularly the most vulnerable, Estuary receives no regular financial support from local authorities or the NHS. Our income is generated through trading activities, voluntary grants and donations. We are reliant on these to meet our running costs and, importantly, we subsidise the care we offer the community so that everyone can benefit no matter their financial situation. 

I, and my fellow Trustees, would like to take this opportunity to thank our wonderful staff and volunteer team for all their hard work this past year. We would also like to thank all those who have supported us with donations and grants, wonderful gifts, thank you notes and of course, charity shop donations all of which are more vital than ever to the continuation of our services. 

Marilyn Ramsden Chair, Estuary League of Friends 

## **Fundraising activities** 

The Estuary League of Friends does conduct fundraising activities. Fundraising is primarily from grant makers including trusts and statutory funders. To a lesser extent, the charity delivers community fundraising (through annual sponsored events including the Classic Car Show) and delivers occasional direct marketing appeals restricted to door drops to local households. The charity takes its responsibilities under the Data Protection Act and GDPR very seriously and ensures all activities are conducted in line with best practice guidance issued by the Institute of Fundraising and the Fundraising Regulator. 

## **Risk Management** 

The Directors have assessed the major risks to which the Charity is exposed, and, in particular, those relating to the operations and finances of the Charity and are satisfied that systems are in place to mitigate their exposure to major risks. Risks considered relate to the current economic climate and changing community needs. 

The Trustees have identified that the current risks facing Estuary League of Friends are: 

- Cost-of-living pressures including rising costs of fuel, energy, food and housing as well as rising inflation.  This is impacting on our beneficiaries, putting pressure on our team who are local people with their own challenges in meeting rising costs - to develop and deliver more new services after several years of responding to COVID-19, and is resulting in higher costs for the Charity with wage inflation and energy costs impacting on our bottom line, 

- We are finding that the funding environment more challenging than ever before. Grant-makers provide excellent feedback on our applications but are often unable to fund due to the sheer number of applications they receive and our supporters simply have less to give in donations which presents a risk to our voluntary income streams. 

## **Financial Review** 

Total incoming resources for the year to 31 March 2024 amounted to £661,381 (year ended 31 March 2023 £625,714). Unrestricted funds incoming resources amounted to £535,518 (year ended 31 March 2023 £445,416). Restricted funds incoming resources amounted to £125,863 (year ended 31 March 2023 £180,297. 

Total expenditure amounted to £623,836 (year ended 31 March 2023 £601,876). Of which, the charity invested resources of £34,843 (year ended 31 March 2023 £64,087), to support the running of the Estuary Community Hub. 

The purposes of the different types of funds are explained in the accounting policies as shown in the financial statements. 

7 



**ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

Note 18 to the financial statements provide further explanation. 

## **Investment policy and objectives** 

The Charity does not participate in high risk investments and invests its cash resources in liquid investments that cannot go up or down in value. 

## **Reserves policy** 

The total funds, detailed in note 18, held by Estuary League of Friends as at 31st March 2024, including a breakdown of unrestricted (including designated) and restricted funds are: 

The unrestricted fund (including designated funds) shows a increase in the movement of funds amounting to £120,292 (2023: decrease of £8,311). This has resulted in the total fund balance increasing from £583,445 in 2023 to £703,737 in 2024. 

Included in the unrestricted fund, are designated funds which the charity holds for specific purposes. These funds are: 

- The Critical Reserves, £389,896. This fund was established to maintain liquid reserves at a level which equates to approximately 6-9 months of unrestricted expenditure. This provides sufficient funds to cover management, administration, and support costs. 

- The Strategic Reserves 

   - Property Asset Fund, £65,924. This is the value of funds represented by the charity shop, which is owned by the charity. 

   - Property Maintenance Fund, £150,000. This fund has been established in order to cover expenditure on future maintenance or replacements of machinery within the Hub or charity shops. 

The balance of the unrestricted fund, £97,916, the general reserves, covers the day to day operations of the organisation, which includes loss of income and unforeseen expenditure of the charity, and can be used at its own discretion. 

The restricted fund shows a decrease in the movement of funds amounting to £82,747 (2023: increase of £32,148). This has resulted in the total fund balance decreasing from £1,515,913 in 2023 to £1,433,166 in 2024. £481 of this £1.43m has been spent on fixtures and fittings for the Community Hub, and therefore this expenditure has been capitalised, as shown in note 19 under the Restricted Tangible Fixed Assets. 

The charity's restricted funds are those for a pre-agreed purpose where the donor has imposed conditions on the use of the funds. The policy for such funds is to adhere to the relevant conditions. 

## **FUTURE PLANS** 

2024/2025 looks to be another challenging year with rising fuel costs and inflation continuing to impact on community need and costs associated with running the Charity and Nancy Potter House. There is continued emphasis on voluntary fundraising to meet the shortfall from trading activities, however, it is becoming noticeably harder to generate the same return on investment from voluntary income as enjoyed in previous years. 

Other priorities for 2024/2025 include continuing fundraising to invest in a new Wheelchair Adapted Vehicle which will be more energy and cost efficient, as well as pursuing other energy efficiency measures to reduce our carbon footprint and offset rising energy costs. 

8 



**ESTUARY LEAGUE OF FRIENDS** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **Organisational structure** 

The Company is limited by guarantee and has no share capital. The Charity's objects and regulations are set out in the company's Memorandum and Articles approved on 21 June 2001, the date of incorporation. 

The maximum number of members with which the company proposes to be registered is the current number of trustees. 

The trustees consist of at least 5 and not more than 11 individuals and have control of the charity and its property and funds. At the AGM the Members accept the retirement of those trustees who have given notice to retire and elect persons to be trustees to fill the vacancies of ratify the appointment of co-opted trustees. 

The charity recruits any new trustees by advertising locally, interviewing potential candidates and then appointing. Successful candidates are welcomed formally at the next trustees meeting, following appointment. 

When new trustees are elected to the board a formal induction process is followed, with each trustee knowing what is expected of them. During their time on the board all the trustees have the opportunity to attend training sessions on various subjects. These sessions vary in delivery but are all designed to gain a better understanding on subjects not previously known. 

Strategic decisions are made by the Board, with all expenditure decisions over £10,000 needing at least 3 written quotes and a board decision. The day-to-day management of the charity is delegated to the Chief Executive, Rachel Gilpin. 

Salaries for staff are set at recruitment by the Chief Executive, making sure that all National Minimum Wages are met. Once a year the salaries are reviewed by the board and an increase agreed, again making sure that the National Minimum Wage is adhered to. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 

4238939 (England and Wales) 

## **Registered Charity number** 

1088242 

## **Registered office** 

Nancy Potter House Topsham Exeter Devon EX3 0DX 

## **Trustees** 

Mrs M Ramsden W Davies I A Garcia (resigned 1/1/2024) Mrs R L Gliddon I K J Crombie Mrs M Jevon Mrs A L Smith (appointed 28/4/2023) P M Tosh 

9 



ESTUARY LEAGQJL. OF FIUENDS
REPORT QF 'f:4E TQ.USTEES
FOR THE YEAPI 4W]ARCH 2024
Company Secretsry
Mrs R J Gllpin
Independent Examiner
Merlin Accountancy Servlces Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW
Sollcitors
Ashfords LLP, Ashford House, Grenadler Road, Exeter, EXI 3Lkl
Bankers
Lloyds, Exeter
Approved by order of the board of trustees ori .,..........,....
sign& on Its behalf by..
Mrs M Ramsden - Trustee
I K J Cromble - Trustée
10

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF
EsfuARY LEAGUE OF FRIENDS
Independent examiner's report to the trusteés of Estuary.League of Friends (*he Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responslblllties and basls of report
As the charlty's trust￿ of the Company (and also Its directors for the purposes of company law) you are
resw)nsible for the P￿para￿On of the accounts in accordan￿ with the requlrements of the com.panies Act
2006 ('the 2006 Act,).
Having satlsfled myself that the accounts of the Company are not requlred to be audlted under. Part 16 of
the 2006 Act and are ellglble for independent examinatlon, I report In respect of my examinatjon of your
charity's accounts as carrled out under Sectlon 145 of the Charitles Att 2011 ('the 2011 ACV). In carrylng out
my examlnation I have followed the Dlrectlons given by the Charity Commlsslon under Section 145(5) (b) of
the 2011 Act.
Independent examlner's Statement
sIn￿ your charltys gross Income exceeded £250,000 your examiner must be a memter of a Ilsted body. I
can conflrm that I am quallfled to undertake the examlnation because I am a member of the Institute of
Chartered Accountsnts In England and Wales, whlch Is one of the listed bodies.
I have completed my examlnatSon. I conflrm that no matters have come to my attentlon in connection wlth
the examlnatlon glvlng me cause to L￿lIeve..
account1r￿ records were not kept In respect of the Company as requlred by Sectlon 386 of the 2006
the accounts do not accord with tho>e records. or
the accounts do not comply wlth the accountlng requlrements of Sectlon 396 of the 2006 Att other
than any requlrement that the accounts glve a true and falr view which Is not a matter consldered as
part of an Independent examlnation; or
the accounts have not b*n prepared in accordan￿ wlth the methods and prlnclples of the Statement
of Recommended pract1￿ for accountjng and reporting by charlties (applicable to charftles preparing
thelr accounts in accordan￿ wlth the Flnanclal Reporting Stsndard applicable In the UK and Republlc
of Ireland (FRS 102)).
I have no conorns arKI have come across no other matters In connettion wlth the examlnatlon to which
attentlon should be drawn in thls rep)rt In order to enable a proper under5tandlng of the accounts to be
reached.
G M Corby Bsc FCA
Merlln Accountancy Setvlces Ltd
2nd Hoor
33 Longbrook Street
Exeter
Devon
EX4 6AW

## **ESTUARY LEAGUE OF FRIENDS** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>**Charitable activities**<br>5<br>Nail Cutting<br>Meal Deliveries<br>Shopping<br>Home Help<br>Befriending<br>Estuary Ladies<br>Grants<br>Other trading activities<br>3<br>Investment income<br>4<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>6<br>**Charitable activities**<br>7<br>Nail Cutting<br>Meal Deliveries<br>Shopping<br>Home Help<br>Befriending<br>Estuary Ladies<br>Community Hub<br>Other<br>**Total**<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>18<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>funds<br>£<br>140,060<br>1,876<br>30,233<br>722<br>158,411<br>49,726<br>-<br>24,079<br>120,369<br>10,042<br>535,518<br>118,420<br>2,261<br>32,939<br>-<br>136,098<br>24,093<br>-<br>79,611<br>21,324<br>414,746<br>120,772<br>(480)<br>120,292<br>583,445<br>703,737|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>1,549<br>124,314<br>-<br>-<br>125,863<br>-<br>-<br>-<br>-<br>173,213<br>-<br>1,034<br>34,843<br>-<br>209,090<br>(83,227)<br>480<br>(82,747)<br>1,515,913<br>1,433,166|2024<br>Total<br>funds<br>£<br>140,060<br>1,876<br>30,233<br>722<br>158,411<br>49,726<br>1,549<br>148,393<br>120,369<br>10,042<br>661,381<br>118,420<br>2,261<br>32,939<br>-<br>309,311<br>24,093<br>1,034<br>114,454<br>21,324<br>623,836<br>37,545<br>-<br>37,557<br>2,099,358<br>2,136,903|2023<br>Total<br>funds<br>£<br>104,280<br>2,487<br>42,139<br>623<br>119,776<br>49,784<br>1,562<br>190,657<br>111,400<br>3,006<br>625,714<br>109,553<br>320<br>35,492<br>195<br>263,940<br>19,896<br>1,567<br>162,595<br>8,320<br>601,878<br>23,836<br>-<br>23,836<br>2,075,522<br>2,099,358|
|---|---|---|---|---|



12 



## **ESTUARY LEAGUE OF FRIENDS** 

## **BALANCE SHEET (REGISTRATION NUMBER: 04238939) 31 MARCH 2024** 

|Notes<br>**FIXED ASSETS**<br>Intangible assets<br>13<br>Tangible assets<br>14<br>Investments<br>15<br>**CURRENT ASSETS**<br>Debtors<br>16<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>17<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>18<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Unrestricted<br>Restricted<br>funds<br>funds<br>£<br>£<br>6,405<br>-<br>75,060<br>1,418,361<br>1<br>-<br>81,466<br>1,418,361<br>116,250<br>-<br>523,179<br>14,806<br>639,429<br>14,806<br>(17,158)<br>(1)<br>622,271<br>14,805<br>703,737<br>1,433,166<br>703,737<br>1,433,166|2024<br> <br>Total<br>funds<br>£<br>6,405<br>1,493,421<br>1<br>1,499,827<br>116,250<br>537,985<br>654,235<br>(17,159)<br>637,076<br>2,136,903<br>2,136,903<br>703,737<br>1,433,166<br>2,136,903|2023<br>Total<br>funds<br>£<br>-<br>1,531,576<br>1<br>1,531,577<br>83,672<br>499,997<br>583,669<br>(15,888)<br>567,781<br>2,099,358<br>2,099,358<br>583,445<br>1,515,913<br>2,099,358|
|---|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. 

13 



E.￿ARI- i [￿n￿lIk -,
BAL￿NC.￿kn SW.FFT ~
3X ￿￿.￿?.c￿l ,.,.-
The trustees acknowledge their responsibllitiot toi"
.Diifruéa
(a)
ensuring that the charitable companii &Ccnuthljriry rpi-ords that comply with Sectlons 386 and
387 of the Cornpanles Att 2006 aiid
Cb) preparing finanaal statements which glvr. a PJLie Pilid. i'&x.I, vlewd of the 5tste of affalrs of the charltsble
company as at the end of each flna..Ic.iil )'e.a5' a5..f. o+ its surplus or de.ficit for each flnanclal year in
accordance wlth the requirements of S•=t.ians .JQ£j ?i-;a
95 and which otlErwise comply with the
requlrements of the Companies Act 200fi, re.l=.,tlil91 try 'fiii1411iial etatements, so far as appllcable to the
charitable company.
-rhese flnancial statements have been preparp.d In. 2,CcorLl4n.LV IIFlth the provirJlons appllcable to charitable
companles subject to the small companlps regim:.
anclal ststements were apprfjved .b'/ ihcl 8¢)a,rl .og ITUStees and authorlsed for Issue on
ULt,...*(). ¥.¥-..... and were signed i)fi il'5 b'eii¢ilt ,¥y.'
M Ramsden -
I K J Crombie - Trustee

## **ESTUARY LEAGUE OF FRIENDS** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024** 

|||2024||2023|
|---|---|---|---|---|
|Notes||£||£|
|**Cash flows from operating activities**|||||
|Cash generated from operations|1|39,546||97,305|
|Net cash provided by operating activities||39,546||97,305|
|**Cash flows from investing activities**|||||
|Purchase of intangible fixed assets||(8,540)||-|
|Purchase of tangible fixed assets||(3,060)||(28,622)|
|Interest received||10,042||3,006|
|Net cash used in investing activities||(1,558)||(25,616)|
||||||
|**Change in cash and cash**|||||
|**equivalents in the reporting period**||37,988||71,689|
|**Cash and cash equivalents at the**|||||
|**beginning of the reporting period**||499,997||428,308|
|**Cash and cash equivalents at the**|||||
|**end of the reporting period**||537,985||499,997|
|**1.**<br>**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|||**OPERATING ACTIVITIES**||
||||2024|2023|
||||£|£|
|**Net income for the reporting period (as per the Statement**|||||
|**of Financial Activities)**|||37,545|23,837|
|**Adjustments for:**|||||
|Depreciation charges|||43,355|71,368|
|Interest received|||(10,042)|(3,006)|
|Increase in debtors|||(32,583)|(478)|
|Increase in creditors|||1,270|5,584|
|**Net cash provided by operations**|||39,546|97,305|
|**2.**<br>**ANALYSIS OF CHANGES IN NET FUNDS**|||||
|||At 1/4/23|Cash flow|At 31/3/24|
|||£|£|£|
|**Net cash**|||||
|Cash at bank and in hand||499,997|37,989|537,985|
|||499,997|37,989|537,985|
|**Total**||499,997|37,989|537,985|



15 



**ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Donations and Legacies** 

Voluntary Income consists of all incoming resources (whether cash or assets in hand) other than incoming resources received for investment income, gains, grants or payments for goods or services. This is recognised in the statement of financial activities as soon as it is received. 

Voluntary income is recognised on receipts and includes associated tax claims on a receivable basis. Legacies are recognised by reference to the date probate is granted, or if later, as soon as they are capable of being measured in financial terms. Grants of a general nature are recognised as voluntary income. 

## **Other Trading Activities** 

Income from trading and fundraising activities is included in incoming resources in the period in which it relates. Rent received is treated similarly on an accruals basis. 

## **Income from Investments** 

Investment income is accrued on a daily basis and is credited on this basis in the statement of financial activities. 

## **Income from Charitable Activities** 

Incoming resources from charitable activities are included in incoming resources in the period in which the income relates. Grants received for the performance of a specific service are classified as incoming resources from charitable activities. 

## **Grants** 

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

16 



**ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **1. ACCOUNTING POLICIES - continued** 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources. 

- Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

- Charitable activities include charitable distributions and the costs involved in the provision of services that the Estuary League of Friends provides. 

- Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. 

Resources expended include attributable VAT which cannot be recovered. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme.  Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

17 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

|**2.**<br>**DONATIONS AND LEGACIES**<br>2024<br>£<br>Gifts<br>1<br>Donations<br>48,701<br>Gift aid<br>3,858<br>Legacies<br>87,500<br>140,060<br>**3.**<br>**OTHER TRADING ACTIVITIES**<br>2024<br>£<br>Fundraising events<br>19,738<br>Shop income<br>100,436<br>Miscellaneous Income<br>195<br>120,369<br>**4.**<br>**INVESTMENT INCOME**<br>2024<br>£<br>Deposit account interest<br>10,042<br>**5.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>2024<br>Activity<br>£<br>Nail Cutting<br>1,876<br>Meal Deliveries<br>30,233<br>Shopping<br>722<br>Home Help<br>158,411<br>Befriending<br>49,726<br>Estuary Ladies<br>1,549<br>Grants<br>148,393<br>390,910<br>Grants received, included in the above, are as follows:<br>2024<br>£<br>Other grants<br>148,393<br>The following are some of the Grants received in the year:<br>£28,300<br>Ann Rylands CT<br>National Grid Local Living<br>£8,284 Devon County Council<br> Growing<br>Communities Fund<br>National Lottery Community Fund<br>Cost of Living Fund<br>£25,489<br>National Lottery Community Fund<br> Reaching Communities<br>Devon County Council<br> Growing<br>Communities Fund<br>£3,000<br>Norman Family Trust||2023<br>£<br>1<br>41,406<br>9,571<br>53,302|
|---|---|---|
|||104,280|
|||2023<br>£<br>12,159<br>98,996<br>245|
|||111,400|
|||2023<br>£<br>3,006|
|||2023<br>£<br>2,487<br>42,139<br>623<br>119,776<br>49,784<br>1,562<br>190,657|
|||407,028|
|||2023<br>£<br>190,657|
|||£3,000<br>£3,000<br>£50,052<br>£1,500|



18 



**ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **6. RAISING FUNDS** 

## **Raising donations and legacies** 

|Sundries<br>Consultancy<br>Support costs<br>**Other trading activities**<br>Staff costs<br>Miscellaneous<br>Rent<br>Utilities<br>Depreciation<br>Support costs<br>Aggregate amounts||2024<br>£<br>4,349<br>18,980<br>12,047<br>35,376<br>2024<br>£<br>33,214<br>3,751<br>10,200<br>7,440<br>4,345<br>24,094<br>83,044<br>118,420||2023<br>£<br>2,876<br>13,998<br>9,951|
|---|---|---|---|---|
|||||26,825|
|||||2023<br>£<br>43,143<br>2,484<br>10,200<br>3,324<br>2,286<br>21,291|
|||||82,728|
|||||109,553|



## **Other trading activities** 

## **7. CHARITABLE ACTIVITIES COSTS** 

|Nail Cutting<br>Meal Deliveries<br>Home Help<br>Befriending<br>Estuary Ladies<br>Community Hub|Direct<br>Costs (see<br>note 8)<br>£<br>2,261<br>8,846<br>273,170<br>-<br>1,034<br>114,454<br>399,765|Support<br>costs (see<br>note 9)<br>£<br>-<br>24,093<br>36,141<br>24,093<br>-<br>-<br>84,327|Totals<br>£<br>2,261<br>32,939<br>309,311<br>24,093<br>1,034<br>114,454|
|---|---|---|---|
||||484,092|



19 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **8. DIRECT COSTS OF CHARITABLE ACTIVITIES** 

|**DIRECT COSTS OF CHARITABLE ACTIVITIES**|||
|---|---|---|
|Staff costs<br>Sundries<br>Depreciation|2024<br>£<br>337,019<br>27,903<br>34,843<br>399,765|2023<br>£<br>290,093<br>56,203<br>64,087|
|||410,383|



## **9. SUPPORT COSTS** 

|Raising donations and legacies<br>Other trading activities<br>Other resources expended<br>Meal Deliveries<br>Home Help<br>Befriending|Management<br>£<br>12,047<br>24,094<br>-<br>24,093<br>36,141<br>24,093<br>120,468|Other<br>£<br>-<br>-<br>14,217<br>-<br>-<br>-<br>14,217|Governance<br>costs<br>£<br>-<br>-<br>7,107<br>-<br>-<br>-<br>7,107|Totals<br>£<br>12,047<br>24,094<br>21,324<br>24,093<br>36,141<br>24,093|
|---|---|---|---|---|
|||||141,792|



|Activity|Basis of allocation|
|---|---|
|Management|Management & Administration apportioned by use|
|Other|Motor Expenses apportioned by use|
|Governance costs|Governance costs|



Support costs, included in the above, are as follows: 

## **Management** 

|Wages<br>Social security<br>Pensions<br>Insurance<br>Telephone<br>Printing, post and<br>stationery<br>Sundries<br>Computer expenses<br>Repairs & renewals<br>Volunteer expenses<br>Depreciation of tangible<br>and heritage assets|Raising<br>Donations<br>& Legacies<br>£<br>Other<br>Trading<br>Activities<br>£<br>Meal<br>Deliveries<br>£<br>Home<br>Help<br>£<br>Befriending<br>£<br>2024<br>Total<br>Activities<br>£<br>2023<br>Total<br>Activities<br>£<br>6,637<br>13,276<br>13,276<br>19,914<br>13,276<br>66,379<br>50,269<br>615<br>1,231<br>1,231<br>1,846<br>1,231<br>6,154<br>5,686<br>536<br>1,073<br>1,073<br>1,609<br>1,073<br>5,364<br>3,973<br>257<br>513<br>512<br>768<br>512<br>2,562<br>5,187<br>414<br>829<br>829<br>1,244<br>829<br>4,145<br>4,112<br>755<br>1,509<br>1,509<br>2,264<br>1,509<br>7,546<br>4,852<br>1,048<br>2,093<br>2,093<br>3,140<br>2,093<br>10,467<br>15,030<br>903<br>1,806<br>1,806<br>2,709<br>1,806<br>9,030<br>3,945<br>112<br>225<br>225<br>337<br>225<br>1,124<br>1,464<br>390<br>781<br>781<br>1,172<br>781<br>3,905<br>1,471<br>380<br>758<br>758<br>1,138<br>758<br>3,792<br>3,496|
|---|---|
||12,047<br>24,094<br>24,093<br>36,141<br>24,093<br>120,468<br>99,485|



20 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **9. SUPPORT COSTS - continued Other** 

|Motor expenses<br>Depreciation of tangible fixed assets<br>**Governance costs**<br>Accountancy and legal fees|2024<br>Other<br>resources<br>expended<br>£<br>13,842<br>375<br>14,217<br>2024<br>Other<br>resources<br>expended<br>£<br>7,107|2023<br>Total<br>activities<br>£<br>5,574<br>-<br>5,574<br>2023<br>Total<br>activities<br>£<br>8,125|
|---|---|---|



## **Governance costs** 

## **10. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

|Depreciation - owned assets<br>Computer software amortisation|2024<br>£<br>41,215<br>2,135|2023<br>£<br>71,370<br>-|
|---|---|---|



## **11. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 

21 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **12. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Average Employees<br>No employees received emoluments in excess of £60,000.<br>**INTANGIBLE FIXED ASSETS**<br>**COST**<br>Additions<br>**AMORTISATION**<br>Charge for year<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023||2024<br>£<br>427,177<br>15,589<br>5,364<br>448,130<br> <br>2024<br>23||2023<br>£<br>375,756<br>13,435<br>3,973<br>393,164<br>2023<br>23<br>Computer<br>software<br>£<br>8,540<br>2,135<br>6,405<br>-|
|---|---|---|---|---|
||||||
||||||



## **13. INTANGIBLE FIXED ASSETS** 

22 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **14. TANGIBLE FIXED ASSETS** 

|**COST**<br>At 1 April 2023<br>Additions<br>At 31 March 2024<br>**DEPRECIATION**<br>At 1 April 2023<br>Charge for year<br>At 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023<br>**15.**<br>**FIXED ASSET INVESTMENTS**<br>**MARKET VALUE**<br>At 1 April 2023 and 31 March 2024<br>**NET BOOK VALUE**<br>At 31 March 2024<br>At 31 March 2023|Freehold<br>Property<br>£<br>1,718,349<br>480<br>1,718,829<br>202,978<br>33,961<br>236,939<br>1,481,890<br>1,515,371|Fixtures<br> <br>and<br>Fittings<br>£<br>245,169<br>2,580<br>247,749<br>230,089<br>6,879<br>236,968<br>10,781<br>15,080|Motor<br>Vehicles<br>£<br>6,000<br>-<br>6,000<br>4,875<br>375<br>5,250<br>750<br>1,125|<br>Totals<br>£<br>1,969,518<br>3,060<br>1,972,578<br>437,942<br>41,215<br>479,157<br>1,493,421<br>1,531,576<br>Shares in<br>group<br>undertakings<br>£<br>1<br>1<br>1|
|---|---|---|---|---|



There were no investment assets outside the UK. 

23 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade debtors<br>Amounts owed by group undertakings<br>Other debtors<br>Prepayments|2024<br>£<br>15,255<br>73,782<br>15,105<br>12,108<br>116,250|2023<br>£<br>11,403<br>53,022<br>14,060<br>5,187<br>83,672|
|---|---|---|



## **17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income<br>**18.**<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General Fund<br>Critical Reserve<br>Property Asset - Charity Shop<br>Community Hub Development Fund<br>Property Maintenance Fund<br>**Restricted funds**<br>Property Asset - Community Hub<br>Estuary Activities<br>Estuary Ladies<br>**TOTAL FUNDS**|At 1/4/2023<br>£<br>80,146<br>316,805<br>68,134<br>8,360<br>110,000<br>583,445<br>1,459,192<br>55,402<br>1,319<br>1,515,913<br>2,099,358|Net<br>movement<br>in funds<br>£<br>122,982<br>-<br>(2,210)<br>-<br>-<br>120,772<br>(34,843)<br>(48,899)<br>515<br>(83,227)<br>37,545|2024<br>£<br>4,455<br>7,431<br>1,008<br>4,265<br>17,159<br>Transfers<br> <br>between<br>funds<br>£<br>(105,212)<br>73,091<br>-<br>(8,359)<br>40,000<br>(480)<br>480<br>-<br>-<br>480<br>0|2023<br>£<br>485<br>4,516<br>804<br>10,083<br>15,888<br> <br>At<br>31/3/2024<br>£<br>97,916<br>389,896<br>65,924<br>1<br>150,000<br>703,737<br>1,424,829<br>6,503<br>1,834<br>1,433,166<br>2,136,903|
|---|---|---|---|---|



24 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **18. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>Property Asset - Charity Shop<br>**Restricted funds**<br>Property Asset - Community Hub<br>Estuary Activities<br>Estuary Ladies<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>535,518<br>-<br>535,518<br>-<br>124,314<br>1,549<br>125,863<br>661,381|Resources<br>expended<br>£<br>(412,536)<br>(2,210)<br>(414,746)<br>(34,843)<br>(173,213)<br>(1,034)<br>(209,090)<br>(623,836)|Movement<br>in funds<br>£<br>122,982<br>(2,210)<br>120,772<br>(34,843)<br>(48,899)<br>515<br>(83,227)<br>37,545|
|---|---|---|---|



## **Unrestricted Funds** 

When considering our unrestricted reserves, we distinguish between General Reserves that cover the day to day operations of the organisation, which includes loss of income and unforeseen expenditure and the designated funds. These designated funds are: 

- The Critical Reserves that cover 6-9 months of unrestricted expenditure. This proves sufficient funds to cover management and administration, and support costs, and 

- The Strategic Reserves that are needed to invest in organisational developments, and comprise of: 

   - The Property Asset Charity Shop Fund is the value of funds represented by the shop owned by the charity. 

   - Property Maintenance Fund, £150,000. This fund has been established in order to cover expenditure on future maintenance or replacements of machinery within the Hub or charity shop. This fund has been increased due to current rising costs and planned expenditure. 

## **Restricted Funds** 

Are amounts received for a pre-agreed purpose where the donor has imposed conditions on the use of the funds. The restricted funds during the year were: 

- The Property Asset - Community Hub Fund is the value of funds represented by the Community Hub owned by the charity. 

- Estuary Activities. £124,314 was received and £173,213 spent during the year on staff salaries for the work towards co-ordinating the volunteers. 

- Estuary Ladies. This fund was established to carry on the work and similar activities to that of the WI, for the ladies of the Topsham area. 

25 



## **ESTUARY LEAGUE OF FRIENDS** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** 

## **19. ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|Tangible Fixed<br>Assets<br>Investments<br>Current Assets<br>Current Liabilities<br>Net assets at 31<br>March 2024|**General**<br>**Funds**<br>**£**<br>15,542<br>-<br>99,532<br>(17,159)<br>97,916|**Designated**<br>**Funds**<br>**£**<br>65,924<br>1<br>539,897<br>-<br>605,822|**Restricted**<br>**Funds**<br>**£**<br>1,418,360<br>-<br>14,806<br>-<br>1,433,166|**Total Funds**<br>**As at**<br>**31 March**<br>**2024**<br>**£**<br>1,499,826<br>1<br>654,235<br>(17,159)<br>2,136,903|**Total Funds**<br>**As at**<br>**31 March**<br>**2023**<br>**£**<br>1,531,579<br>1<br>583,668<br>(15,891)|
|---|---|---|---|---|---|
||||||2,099,357|



## **20. DEFINED CONTRIBUTION PENSION SCHEME** 

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £5,364 (March 2024 £3,973). The amount outstanding at the end year was £1,008 (March 2023 £804). 

## **21. RELATED PARTY DISCLOSURES** 

No trustee or connected person has received fees or emoluments, or reimbursement of expenses incurred in the year. 

## **The Estuary Community Hub C.I.C.** 

A Community Interest Company (CIC) is wholly owned by The Estuary League of Friends. It is through this CIC that many of the Hub 

The CIC shares several Board members and the Chief Executive with The Estuary League of Friends. During the year there was an inter-company loan between the two entities. No interest is charged on this loan and there are no terms for repayment. 

|<br>this loan and there are no terms for repayment.|||
|---|---|---|
||2024|2023|
||£|£|
|Amount due from related party at the balance sheet date|73,782|53,022|



26