2025-03-31-accounts - Activities 115

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Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Trustees Report and Unaudited Financial Statements - Activities 115

For the year ended 31 March 2025

Company Number: 04104081 Charity Number: 1091223

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115
Contents
	Pages
Trustees' Annual Report	2
Independent Examiner's report	3
Statement of Financial Activities	4
Income and Expenditure Account	5
Balance Sheet	6
Notes to the financial statements	7 to 14
Detailed Statement of Financial Activities	15 to 16

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115 Trustees' Annual Report

The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006 present their report with the unaudited financial statements of the Charity for the year ended 31 March 2025.

Company Number Charity Number 3760575 1091223

Registered Office

115 Fore Street Kingsbridge TQ7 1AB United Kingdom

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: J.A. Buckley L.G. Buckley S.L. Dennis J.D. Stubbs E Gyde-Candy

Accountants

Bronte Accounting Services Ltd The Kingsbridge Office Lower Union Road Kingsbridge TQ7 1EG

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are responsible for safeguarding the assests of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS102)

Signed on behalf of the Board

J.D. Stubbs Trustee

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115 Independent Examiner's Report

Independent Examiner's Report to the Trustees of Activities 115

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

Independent Examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
the accounts do not accord with such records; or

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

•the accounts have not been prepared in accordance with the Charities SORP (FRS102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Bronte Accounting Services Limited Unit 5 Lower Union Road Kingsbridge Devon TQ7 1EG Date:

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115 Statement of Financial Activities for the year ended 31 March 2025

Notes
Income and endowments from:
Donations and legacies
Charitable activities
4
Investments
5
Other
TOTAL
Expenditure on:
Raising funds
6
Charitable donations
7
Other
8
TOTAL
Net gains / (losses) on investments
Net Income / (Expenditure)
Transfers between funds
Net Income / (Expenditure) before other gains / (losses)
9
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward

Unrestricted
Funds
Restricted
Funds Total Funds
Total Funds
2025
2025
2025
2024
£
£
£
£
-
-
-
-
11,961
-
11,961
14,794
19,819
-
19,819
18,258
-
-
-
31,781
-
31,781
33,052
6,298
-
6,298
5,934
33,090
-
33,090
22,016
34,247
-
34,247
30,917
73,634
-
73,634
58,867
184
-
184
66,063
(41,669)
-
(41,669)
40,248
-
-
-
(41,669)
-
(41,669)
40,248
-
-
(41,669)
-
(41,669)
40,248
1,402,175
4,745
1,406,920
1,366,672
1,360,506
4,745
1,365,251
1,406,920

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Summary Income and Expenditure Account for the year ended 31 March 2025

Turnover	Note	Year endedYear ended 31 March 2025 31 March 2024 £ £ 31,729 32,962
Cost of sales		(39,388) (27,950)
Gross (loss) / profit		(7,659) 5,012
Other operating income		184 66,063
Administrative expenses		(34,247) (30,918)
(Loss) / Profit from operations before exceptional items		(41,722) 40,157
Other interest receivable and similar income		52 91

(Loss) / Profit for the Financial Year		(41,669) 40,248

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115 Statement of Financial Position for the year ended 31 March 2025

Non-current assets	Notes	31-Mar-25 31-Mar-24 £ £
Tangible Assets	10	501,966 508,851
Investments	11	823,656 853,636
Total non-current assets		1,325,622 1,362,487
Current assets
Debtors	12	- 8,987
Cash and cash equivalents		42,634 38,242
Total current assets		42,634 47,229
Total assets		1,368,257 1,409,716

Total current liabilities	13	3,006 2,796

Net current assets		39,629 44,433
Total liabilities		3,006 2,796
Net assets		1,365,251 1,406,920
Equity attributable to equity holders of the company
Restricted funds		1,659 1,659
Restricted income funds		4,745 4,745
Revaluation reserve		(36,059) (36,059)
Unrestricted funds		1,394,906 1,436,576
Total equity		1,365,251 1,406,920

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions of the small companies regime.

These accounts were approved and authorised for issue by order of the Board on

J.D. Stubbs - Trustee

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements

For the year ended 31 March 2025

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies in the past year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted Funds	These are available for use at the discretion of the Trustees in furtherance of the general
	objects of the Charity.
Designated funds	These are unrestricted funds earmarked by the Trustees for particular purposes
Revaluation funds	These are unrestricted funds which include a revaluation reserbice representing the restatement
	of investment assets at their market values
Restricted funds	These are available for use subject to restrictions imposed by the donor or through terms of
	an appeal.
*Income*
Recognition of income	Income is included in the Statement of Financial Activities (SoFA) when the Charity becomes
	entitled to, and virtually certain to receive, the income and the amount of the income can be
	measured with sufficient reliability.
Income with related expenditure	Where income has related expenditure, the income and related expenditure is reported gross
	in the SoFa.
Donations and legacies	Voluntary income received by way of grants, donations and gifts is included in the SoFA when
	receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on donations and gifts	Income from tax reclaims is included in the SoFA at the same time as the gift / donations
	to which it relates.
Donated services and facilities	These are only included in income (with an equivalent amount in expenditure) where the
	benefit to the Charity is reasonably quantifiable, measurable and material.

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115 Notes to the Financial Statements For the year ended 31 March 2025

Income (continued)

Volunteer help	The value of any volunteer help received is not included in the accounts.
Gains / (losses) on
revaluation of fixed	This includes any gain or loss resulting from revaluing investments to market value at the end
assets
	of the year.
Gains / (losses) on investment assets	This includes any gain or loss on the sale of investments.
*Expenditure*
Recognition of expenditure	Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be
	fully recovered and is reported as part of the expenditure to which it relates.
Expenditure on raising funds	These comprise the costs associated with attrating voluntary income, fundraising trading costs
	and investment management costs.
Expenditure on charitable activities	These comprise the costs incurred by the Charity in the delivery of its activities and services in the
	furtherance of its objectives, including the grant fulfilment and governance costs.
Grants Payable	All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have
	been approved by the trustees at the end of the year but not yet paid.
Governance costs	These include those costs associated with meeting the constitutional and statutory requirements of
	the Charity, including any audit / independent examination fees, costs linked to the strategic
	management of the Charity, together with a share of other administration costs.
Other expenditure	These are support costs not allocated to a particular activity.
*Taxation*
The Charity is exempt	from Corporation Tax on its charitable activities.
Designated funds	These are unrestricted funds earmarked by the Trustees for particular purposes
Revaluation funds	These are unrestricted funds which include a revaluation reserbice representing the restatement
	of investment assets at their market values
Restricted funds	These are available for use subject to restrictions imposed by the donor or through terms of
	an appeal.

Tangible fixed assets and depreciation

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

Freehold Property 1% straight line Fixtures and Fittings 10% reducing balance

Freehold investment property

Investment properties are measured initially at costs and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the Charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Statement of Financial Position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can ben measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the Charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the Charity are recorded at the rate of exchange on the date that the transaction occurred.

Leased assets

Where the Charity enters into a lease, which entrails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Charity are classified as operating leases.

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

Leased assets (continued)

Assets held under finance leases are initially recognised as assets of the Charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation. Lease payments are apportioned between finance expeneses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight line basis over the lease term. In the event that the lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight line basis.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the Charity.

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

2 Company status

The Company is a private company limited by guarantee and consequently does not have share capital

3 Statement of Financial Activities Prior Year

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other
TOTAL
Expenditure on:
Raising funds
Charitable donations
Other
TOTAL
Net gains / (losses) on investments
Net Income / (Expenditure)
Transfers between funds
Net Income / (Expenditure) before oth
9
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward

Unrestricted
Funds
Restricted
Funds
Total Funds
2024
2024
2024
£
£
£
-
-
-
14,794
-
14,794
18,258
-
18,258
-
-
-
33,052
-
33,052
5,934
-
5,934
19,926
2,090
22,016
30,917
-
30,917
56,777
2,090
58,867
66,063
-
66,063
42,338
(2,090)
40,248
-
-
-
42,338
(2,090)
40,248
-
42,338
(2,090)
40,248
1,359,837
6,835
1,366,672
1,402,175
4,745
1,406,920

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

4 Income from charitable activities

		Unrestricted Funds	Total Funds	Total Funds
		2025	2025	2024
		£	£	£
	Rental income	11,961	11,961	14,794
5	Income from investments
		Unrestricted Funds	Total Funds	Total Funds
		2025	2025	2024
		£	£	£
	Dividends and other interest on investments	19,767	19,767	18,167
	Deposit account interest	52	52	91
		19,819	19,819	18,258
6	Expenditure on raising funds
		Unrestricted Funds	Total Funds	Total Funds
		2025	2025	2024
		£	£	£
	Investment management costs	6,298	6,298	5,934
7	Expenditure on raising funds
		Unrestricted Funds	Total Funds	Total Funds
		2025	2025	2024
		£	£	£
	Sports & social income	33,090	33,090	22,016
8	Other expenditure
		Unrestricted Funds	Total Funds	Total Funds
		2025	2025	2024
		£	£	£
	Travel and subsistence expenses	824	824	441
	Premises costs	13,300	13,300	11,241
	Amortisation / Depreciation	6,885	6,885	7,095
	General administrative costs	2,770	2,770	4,589
	Legal and professional fees	10,468	10,468	7,551
		34,247	34,247	30,917
9	Net expenditure before transfers
			2025	2024
			£	£
	This is stated after charging:
	Depreciation of owned fixed assets		6,885	7,095

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

10 Tangible fixed assets

		Land and Buildings	Fixtures and Fittings	Total
		£	£	£
	Cost or revaluation
	At 1 April 2024	500,000	38,354	538,354
	Additions			-
	Revaluations			-
	Disposals			-
	At 31 March 2025	500,000	38,354	538,354
	Depreciation and impairment
	At 1 April 2024	10,000	19,503	29,503
	Depreciation charge for the year	5,000	1,885	6,885
	Revaluations			-
	Disposals			-
	At 31 March 2025	15,000	21,388	36,388
	Net book value
	At 31 March 2025	485,000	16,966	501,966
	At 31 March 2024	490,000	18,852	508,852
11	Investments
			Other investments	Total
			£	£
	Cost or revaluation
	At 1 April 2024		853,636	853,636
	Additions		129,427	129,427
	Revaluations		184	184
	Disposals		(159,591)	(159,591)
	At 31 March 2025		823,656	823,656
	Net book value
	At 31 March 2025		823,656	823,656
	At 31 March 2024		853,636	853,636
12	Debtors
			2025	2024
			£	£
	Trade debtors and other receivables		-	8,111
	Prepayments and other accrued income		-	875
			-	8,986

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Notes to the Financial Statements For the year ended 31 March 2025

13 Creditors

Amounts falling due within one year:

	2025	2024
	£	£
Trade creditors and other payables	840	1,836
Accruals	900	630
Accrued income	1,266	330
	3,006	2,796

14 Movement in funds

			Incoming
	At	1 April 2024	resources (including other	Resouces expenses	At 31 March 2025
			gains and losses)
			£	£	£
Cost or revaluation
Restricted funds:
Basketball donation monies		(2,090)	-	-	(2,090)
Counselling		142	-	-	142
Hub / Café development		6,693	-	-	6,693
		4,745	-	-	4,745
Cost or revaluation
Unrestricted funds:
General funds		1,438,234	31,964	(73,634)	1,396,564
Revaluation fund		(36,059)	-	-	(36,059)
		1,402,175	31,964	(73,634)	1,360,505
Total		1,406,920	31,964	(73,634)	1,365,250

15	Analysis of net assets between funds
			Unrestricted funds	Total
			£	£
	Fixed assets		501,966	501,966
	Investments		823,656	823,656
	Net current assets		39,629	39,629
			1,365,251	1,365,251
16	Reconciliation of net debt
		At 1 April 2024	Cashflows	At 31 March 2025
		£	£	£
	Cash and cash equivalents	38,242	4,392	42,634
		38,242	4,392	42,634

17 Related party transactions

Controlling party

The Company is limited by guarantee and has no share capital; no single party controls the Company.

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Detailed Statement of Financial Activities for the year ended 31 March 2025

Income and endowments from: Donations and legacies Fundraising Charitable activities Rental income Investments	Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2025 2025 2024 £ £ £ £ - - - - 11,961 - 11,961 14,794 19,767 - 19,767 18,167 52 - 52 91 19,819 - 19,819 18,258 31,781 - 31,781 33,052 6,298 - 6,298 5,934 - - - - 33,090 - 33,090 22,016 - - - - 33,090 - 33,090 22,016 824 - 824 441 740 - 740 464 5,544 - 5,544 3,825 2,920 - 2,920 2,200 569 - 569 1,451 9,773 - 9,773 7,940 5,000 - 5,000 5,000 1,885 - 1,885 2,095 384 - 384 - 65 - 65 77 - - - 175 3,527 - 3,527 3,301 11 - 11 8 1,054 - 1,054 2,693 344 - 344 63 101 - 101 65 809 - 809 1,508 13,181 - 13,181 14,985
Dividends and other interest on investments Deposit account interest
TOTAL INCOME AND ENDOWMENTS Expenditure on: Raising funds Investment management costs Charitable activities Outreach Sports and social income Counselling Motor and travel costs Travel and subsistence Premises costs Rates Light, heat and power Premises cleaning Premises repairs and maintenance General administrative costs Depreciaton of land and buildings Depreciation of fixtures and fittings Advertising & Marketing Bank charges Entertaining General insurances Postage & courier Software, IT support & related costs Stationery & printing Subscriptions Telephone

Income and endowments from:
Donations and legacies
Fundraising
Charitable activities
Rental income
Investments

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total Funds
2025
2025
2025
2024
£
£
£
£
-
-
-
-
11,961
-
11,961
14,794
19,767
-
19,767
18,167
52
-
52
91
19,819
-
19,819
18,258
31,781
-
31,781
33,052
6,298
-
6,298
5,934
-
-
-
-
33,090
-
33,090
22,016
-
-
-
-
33,090
-
33,090
22,016
824
-
824
441
740
-
740
464
5,544
-
5,544
3,825
2,920
-
2,920
2,200
569
-
569
1,451
9,773
-
9,773
7,940
5,000
-
5,000
5,000
1,885
-
1,885
2,095
384
-
384
-
65
-
65
77
-
-
-
175
3,527
-
3,527
3,301
11
-
11
8
1,054
-
1,054
2,693
344
-
344
63
101
-
101
65
809
-
809
1,508
13,181
-
13,181
14,985

Dividends and other interest on investments
Deposit account interest

TOTAL INCOME AND ENDOWMENTS
Expenditure on:
Raising funds
Investment management costs
Charitable activities
Outreach
Sports and social income
Counselling
Motor and travel costs
Travel and subsistence
Premises costs
Rates
Light, heat and power
Premises cleaning
Premises repairs and maintenance
General administrative costs
Depreciaton of land and buildings
Depreciation of fixtures and fittings
Advertising & Marketing
Bank charges
Entertaining
General insurances
Postage & courier
Software, IT support & related costs
Stationery & printing
Subscriptions
Telephone

Docusign Envelope ID: 57BA5BAA-11CD-4939-B829-FFF30C3E751D

Activities 115

Detailed Statement of Financial Activities for the year ended 31 March 2025

Legal & professional costs
Accountancy, bookkeeping and independent examination
Other legal and professional costs
Total expenditure
Net gains / (losses) on investments
Net Income / (Expenditure)
Transfers between funds
Net Income / (Expenditure) before other gains / (losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward

Unrestricted
Funds
Restricted
Funds
Total
Funds
Total Funds
2025
2025
2025
2024
£
£
£
£
1,470
-
1,470
990
8,998
-
8,998
6,561
10,468
-
10,468
7,551
73,634
-
73,634
58,867
184
-
184
66,063
(41,669)
-
(41,669)
40,248
-
-
-
-
(41,669)
-
(41,669)
40,248
-
-
-
-
(41,669)
-
(41,669)
40,248
1,402,175
4,745
1,406,920
1,366,672
1,360,506
4,745 1,365,251
1,406,920