Somerset
Community
Foundation
TRUSTEES, REPORT AND FINANCIAI STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
Registered company number 045309791 Registered charity number 1094446
SOMERSET COMMUNIIY FOUNDATION I YEAR ENDED 31 MARCH 2024 ITRUSTEES, REPORT

CONTENTS
PAGE
Chairman's Statement
Trustees, Report
Governance
Financial Review
Future Plans
ststement of Trustees, Responsibilities
11
Independent Auditor's Report
12
Statement of Financial Activities
15
Balance Sheet
18
Statement of Cashflows
19
Notes to the Financial Statements
20
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 2024 | TRUSTEES, REPORT
Page 2

CHAIRMAN'S STATEMENT
insights into what is happening in our
communities.
It gives me great pleasure to present the Somerset
Community Foundation Thistees, Annual Report
and Financial Statements for the year ended
March 31, 2024.
I would like to thank my fellow Trustees and our
staff for everything they do to make the
Foundation such an important charity for
Somerset. In particular, I would like to thank
Kevin Whitmarsh for his contributions as a
Trustee before he retired from the Board, and
welcome Amanda Ellingworth and LA)uisa
Raybould as we ernbark on the next phase of our
exciting journey.
The groups we support have a unique role in the
wellbeing of our communities. They are run by
people who know their local communities
exceptionally well and can make the most of the
opportunities to help others towards a better life.
There is something very special about a handful of
people coming together to make the world on
their doorstep a little better. The local charities
and groups we support are under incredible
pressure: falling incomes, rising costs and
increasing demand for their services. We know
that OUT funding, and the way we deliver it, makes
an enormous difference to their work and to the
lives of thousands of people who need a helping
hand in our wonderful county.
The Hon. Michael Samuel MBE
Chairman
Of course, we would be unable to do this without
the very generous support of our donors and
partners, who work with us to fund these local
organisations. On behalf the Board of Trustees,
would like to thank everyone that has supported
and worked wAth us during the past year.
Like us, they care deeply about our county and the
people that live here. They understand, like us,
that there is a level of need that is all too often
hidden but very real, and they share our passion
to help communities respond.
We have benefitted enormously from public
sector funding and national appeals during the
pandemic and cost-of-living crisis. This enabled
us to award funding of over £5 million during
each of the previous two years. However, it is
significant as we return to 'bu5iness as usual, we
have still been able to award over £4 million in
the past year thanks to all the donors that support
us.
We know there is much more we ean and should
do. The challenges we see today cannot be solved
overnight, and as sorne - thankfully - will reduce,
others will emerge. That is why we are committed
to building the Foundation to be here, alongside
our communities, for the long-term.
Our new brand and website reflect our ambition
to grow the Foundation and increase our impact
and influence. Funding hundreds of
organisations, not to mention an increasing
number of individuals) gives us unparalleled
SOMERSET COMMUNITh FOUNDATION I YEAR ENDED 31 MARCH 2024 | TRUSTEES, REPORT
Page 3

TRUSTEES. REPORT
In this report we set out our progress against the
strategic goals we set out in our 2021-2025
Stronger Communities strategy? which continues
to guide us in our work.
The Trustees present their report and financial
statements for the year ended 31 March 2024.
The Trustees, Report also incorporates the
requirement under Company taw of a Directors,
Report. The financial statements have been
prepared in accordance with the accounting
policies set out in note one to the accounts and
comply with the charitys Articles of Association,
the Companies Act 2006 and Accounting and
Reporting by Charities: Statement of
Recommended Practice applicable to charities
preparing their accounts Financial Reporting
Standard applicable in the UK and Republic of
Ireland (FRS 102).
1. DEIIVERING MORE TARGETED AND
EFFECTIVE FUNDING FOR OUR
COMMUNITIES
Key Facts and Figures
2023124
£4,266,022
2022123
£5,219,408
Funding Awarded
(incl. soclal
Investments)
No. of organisatlons
funded
% Applications that
were successful
421
526
Introduction
68%
68%
The 2023/24 year saw the conclusion to our
responses to the cost-of-living crisis in our
communities and to the impact of high inflation
on many of the organisations we fund,
The year saw us award £4,266,022 (2023:
£5,219,408) of funding to 421 organisations
(2023: 526) and 391 individuals (2023: 184).
We have largelyi however, continued to return to
'business as usual., attracting new philanthropy
for our county, giving a long-terni future to
existing assets, and providing vital funding to
local charities, community groups, individuals
and social enterprises.
Although we award an increasing number of
larger grants and support some relatively large
organisations, we continue to focus on funding
smaller 'grassroots' organisations that are set up
from within communities in response to local
needs and opportunities. The year also saw a
significant increase in the number of individuals
we're helping as we formed a partnership with the
Bishop Fox's FAlucational Foundation.
There is no doubt that many of these groups are
facing sustained (and sometimes unsustainable)
pressures of rising costs, falling incomes and
increased demandi yet they remain ￿tal to the
wellbeing of Somerset residents of all ages and
backgrounds,
While our grants to organisations range from
£200 to £220,000 the typical (median) award is
£3,000 and the typical organisation we fund:
This presents both a challenge and an opportunity
for the Foundation as we seek to increase our
impact in the county. Overall Somerset
Community Foundation is in a strong position to
meet these and future challenges.
supports loo people
is run by 2 part time staff and 9 volunteers
has an annual income of just over
£50,000
We have also taken the opportunity to undertake
our first proper branding exercise and
commission a new website. The insights from
stakeholders were invaluable in this process and
we start 2024/2025 with a fresh look and a much-
improved website.
The funding we award is made available from 80
Funds created by individuals, local companies,
charitable trusts and public sector partners. In
many cases we support our funding partners, own
panels to award grants, but OUT Main Grants
programme utilises a range of funds, particularly
income generated from funds that are invested for
the long-tenn. These grants are awarded by our
own panel of Trustees and volunteers from the
community.
Alongside this we adopted a set of new values to
guide us in the way we deliver our work. They are:
We're here for everyone
We drive equity
£1,859,830 was paid from the Hinldey Point C
Community Fund, taking the total awarded since
We act with Integrity
2017 to over £9 million. At the end of the year, we
We lead with kindness
had commenced a process to help define what the
We strive to be better
remaining years of the programme should focus
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 4

£1,859,830 was paid from the Hinkley Point C
Community Fund, taking the total awarded since
2017 to over £9 million. At the end of the year, we
had commenced a process to help define what the
remaining years of the programme should focus
on, to create a lasting legacy for communities
closest to the new power station.
72% said that our reporting requirements
are relevant to their work.
In response to some of the feedback, we will be
working to improve the speed of decision-making
and deployment of grants, and we are reviewing
our reporting requirement alongside the
development of a new impact framework.
We also made our final social investment from the
Somerset Social Enterprise Fund before we closed
it to new applications. Over the course of 7 years,
we made 29 social investments worth £1.3 million
of blended social finance to local organisations. At
the end of 2023124 we had submitted a proposal
to our key partner, Somerset Council, for a more
focused social investment prosramme which we
hope to launch in 2024/25.
2. USING OUR KNOWLEDGE AND INSIGHT
An important part of our strategy is to ￿e the
knowledge and insights we are privileged to have
access to through our funding programmes to
Taise the profile of the unique value of local
charities, voluntary organisations, and social
enterprises. We also seek to increase awareness of
the challenges they see in their communities and
the opportunities they create to make a
difference.
Our funding supports a wide diversity of causes
throughout the year and many of the
organisations create multiple benefits. The
following chart reflects the primary purpose
behind our funding decisions in 2023/24.
During the past 3 years, the pressures of the
pandemic and cost-of-living crisis has reduced
our capacity in this regard. However, during
2023/24 we reconvened the Somerset Funders
FoTum, bringing together representatives of local,
regional and national funders to consider
priorities in Somerset and explore ways in which
we might all work together more effectively.
40/
Our CEO has also continued to work with
partners on the theme of rural philanthropy, with
the first meeting of national stakeholders planned
for early 2024125.
Looking forward, with the support of a local
philanthropist we have been able to employ our
first Research and Insights Manager, increasing
our capacity to undertake vital research and
impact analysis in the future.
16%
Impro￿ mental health and M'ellbeins
Improved physical health and Iirllbcing
Improved commiinity cohesion
Impmed uspiratlons for the future
Improved community facilities
Impro1,￿ occes5 to services and ￿1ppOrt
Improved perception and feeling of safety
3. SIGNIFICANTIY GROWING OUR
FUNDING FOR COMMUNITIES
Key Facts and Figures
2023124
2022123
£4,808,132
£5,781,122
£910,924
£135,472
Every year we conduct a survey of organisations
that have applied to us for funding to understand
how we could better support them. Overall, 89%
of the 92 respondents said that they were satisfied
or very satisfied with the service they received
from us. In addition:
Income received
..of which is
endowment
Number of Funds
supporting
fundi
Number of new
Funds
131
125
93% said they found our application forni
easy to complete,
80% said they received helpful feedback
during the process
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 5

The year saw us continue to increase our focus on
our regular philanthropy development, most
notably through the establishment of 7 new Funds
and the continued support of existing fund
holders.
BUILDING AN ORGANISATION THAT IS
FIT FOR THE FUTURE
During the year, we developed a new website
underpinned by a thorough rebrand exercise. We
consulted donors, grant recipients and other
partners who provided us with tremendous
feedback and insight, most notably that they felt
we should have a stronger identity and clear
purpose.
The long-term goal of the Foundation is to build a
significant endowment to provide medium to
long-term support for our comsnunities. During
the year we received our fArst £1 million donation
from a private individual through their Charitable
Fund. It is designed to be used as an 'expendable
endowment,, invested carefully but spent down
within ten years.
The new brand has put our strapline 'Directing
Funds, Driving Change, at the heart of our new
website which was launched in early 2024125.
The website will help us be more efficient and
effective as a funder of local organisations and as
a vehicle for philanthropy within Somerset.
We also commenced discussions with Trustees of
2 local charitable trusts with a view to
transferring their assets to the Foundation.
Shortly after the year end, the first of these, with
assets of around £2 million, successfully
transferred to the Foundation.
In reeognition of our wider impact in the world
beyond &)rnerset, we have strengthened our
investment policy to define categories of
investments that we wish to screen out on ethical
grounds and our commitment to working with
investment managers that take an active role in
environmental, social and governance
considerations.
Towards the end of the year, we received
notification that we had secured the first tranche
of a 3-year funding programme to support young
people leaving the care system. An offer of
funding from CCLA has been matched by new
donations which means, including our Eagle
House Fund, we should be able to award at least
£250,000 over the next 3 years.
We continue to work on improving our
performance on Diversity, Equity and Inclusion
(DEI). Responsibility for this now rests with the
CEO who will work with the Board and staff
teams to ensure that DEI is taken into
consideration in everything we do.
We also continue to run funding programmes that
enable a much wider range of people to contribute
to philanthropy in Sonierset. In particular, our
annual Surviving Winter appeal saw another
strong response with £176,277 of new donations
raised from members of the public.
We have published our second DEI re
ort on our
website which includes a progress report and a
breakdown of the diversity within the
organisation. Highlights include providing
funding to Diverse Communities to distribute to
groups led by and for ethnic minorities in
Somerset and improving the accessibility of our
own office with the indusion of disabled
bathroom facilities.
Referrals from local solicitors and financial
planners continues to be important, and we have
been able to seeure several legacy pledges as well
as life-time gifts as a result.
Underpinning our work on philanthropy is the
way we engage our fundholders in the impact of
the Funds they set up with us. In our most recent
fundholder surveyj 80% of our respondents gave
us a score of 8 out of io or higher for their level of
satisfaction with our service to them.
GOVERNANCE
At a regional level we continue to work closely
with neighbouring Community Foundations on
several Funds and donor relationships, including
the Old Mill Fund, the Somerset High Sheriff
Fund, and the Preventing Victims Fund (funded
by the Avon and Somerset Office of the Police and
Crime Commissioner), ensuring there is a
consistent approach to the delivery of the funding
programmes across county boundaries.
SCF is a registered private company, limited by
guarantee (no.0453979) and a registered charity
(no.1094446) governed by its Memorandum and
Articles of Assoeiation. The Directors of SCF are
also its Trustees for the purposes of charity law
and are referred to as 'Trustees' throughout this
report.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | TRUSTEES, REPORT
Page 6

annual grant making of over £98 million, the
network is one of the UK'S most significant
funders.
The Foundation's charitable objects, as defined in
our Memorandum and Articles of Association are
to:
promote charitable purposes for the
benefit of the community in the area
served by Sornerset Council, and in
particular the relief of poverty and
advancement of education. and
promote other charitable purposes in the
United Kingdom and elsewhere.
Management and staff remuneration
The day-to-day management of the Foundation is
delegated to our Chief Executive, who is also
responsible for the implementation of the
strategy.
At the end of the year, we employed 15 members
of staff (12.06 full-time equivalents) who
undertake the core functions of the Foundation:
grant-making) development, finance,
administration, marketing and communications.
During the year we also worked with a number of
freelance 'External Grant Assessors, and our
Social Investrnent Consultant.
Key Facts and Figures
2023124
77%
202W23
% of core costs covered by
Fund contributions
SCF Board Gender Balance
female
male
Highest: Median Salary
ratio
50150
40160
2.03:1
Remuneration of the staff, including key
management personnel, is reviewed by the
Finance and Governance Cotnmittee as part of the
annual budgeting process and any other time as
required, taking account of cost of living,
performance, and benchmarking against similar
roles externally. During the year a revised Pay
Policy was approved by the Board ensuring we
have a transparent, fair and consistent approach
to remuneration within the charity.
The Trustees confirm that they have referred to
guidance produced by the Charity Commission on
public benefit when reviewing the Foundation's
objectives and in planning future activities and
are satisfied that the requirements are met.
Board of Trustees
Managing risk
During the year, 6 sub-committees were in
operation as follows:
Co-Investment'
Finance and Governance
Grants
HPC Community Fund Awards Panel
IL)ans
Trustee Search Committee
We maintain a comprehensive risk register
covering the breadth of the Foundation's work.
This is reviewed in detail at every Finance and
Governance Committee meeting and is also
considered at every Board meeting. It lists the
most significant risks, scored on a mix of
probability and impact, with updates on
mitigation measures.
he Foundation has 2 Trustees represented on
the Co-Inuestment Committee which also
includes representativesfrom 3 Other
Community Foundations overseeing the
implementation off ourjoint investmentpolicy.
During the year, the major risks facing the
Foundation related to our dependence on a small
number of key senior personnel and the potential
impact of public sector funding cuts. To mitigate
these risks, we have built a strong senior
leadership team to ensure we have more 'strength
in depth, within our executive, and our focus on
growing income from private and corporate
donors has reduced our reliance on public sector
funding.
These committees are responsible for the detailed
oversight of strategy and activities within their
areas of responsibility, with their own terms of
reference and delegated powers, including powers
to appoint additional non-Trustees as members of
these committees.
We are a quality accredited member of UK
Community Foundations, the membership
organisation that supports and protnotes the 47
community foundations operating across the UK.
The Foundation had a strong financial year, with
With endowment funds over £693 million and
an overall income of £4,808,132 (2023:
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
FIIIANCIAL REVIEW
Page 7

£5,781,122), While this is a fall in income, it
reflects a strong underlying trend after taking
account of the additional funds donated to us in
response to the pandemic.
At the end of the year £4,881,400 (2023:
£5,621,812) was carried forward, including
£325,761 in the HPC Community Fund and
£1,981,770 in the Discovery Community Fund.
The fall in funds carried forward reflects how we
are deploying funds that were donated in earlier
years.
Our expenditure was £4,863,984 (2023:
£5,T/2,993) with 96% (2023.97%) of this on
charitable activities and governance, including
£4,076,362 awarded as grants (2023:
£5,089,632). Again, after taking account of the
exceptional grant of £1.25 million awarded in
2022/23, this reflects a strong and sustained
impact.
The Charities SORP requires that we recognise
grants provided to organisations where they have
been committed to in advance of making the
payments (or in most cases recognising the
income that the grant pa￿Trents will be made
from). As a result, the charitys balance sheet
shows grants committed to but not yet paid of
£2,764,725 (2023: £2,555,307). £1,707,950 of
this is due within l year and £1,056,775 in more
than i year (2023: £1,396,386 within i year and
£1,158,921 in more than i year).
Expenditure on raising funds was £182,495
(2023: £189,916). Over the past 3 years, on
average we have secured £30 of income for every
£1 spent on raising ￿nds.
Unrestricted Funds and Free Reserves
Endowment and Investment Policy
At the end of the year our unrestricted funds were
£732,151 (2023: £784,012). This includes
designated funds worth £485,623 (2023:
£496,391).
Our endowment is invested across 3 investment
managers and is held as part of a larger portfolio
made up of the end0￿￿ent funds of three other
Community Foundations.
The Foundation's Reserves Policy (reviewed in
September 2021) is to hold sufficient unrestricted
reserves to meet short-term cash flow needs,
manage medium-term fluctuations in income
and, if necessary, enable the Foundation to
manage a long-term decline in income. The Board
reviews the level of 'free' unrestricted reserves
annuallyi considering income forecasts and
assessment of risk.
During the year, our endowment fund attracted
new donations worth £910,924 (2023: £135,472).
We experienced a net gain on our investments of
£572,737 (2023: net loss of £284,148). Following
capital withdrawals as part of our total return
policy (see below) at the end of the year our
endowment fund was valued at £9,082,546
(2023: £7,748,344).
Designated funds include funds set aside to invest
in improving our website and digital marketing
and to produce further Hidden Somerset (or
similar) reports.
The aim of our investment policy is to generate a
tot￿ return on the investments to at least
maintain the capital value of the Fund in the long-
term while generating a surplus for grant-making
and supporting the costs of the Foundation. Each
year we withdraw a 4% total return for these
purposes.
At the end of the year, free reserves stand at
£302,936 (2023: £291,877). Having considered
the medium-term nature of much of the
Foundation's funding, the Thistees are satisfied
this represents a sustainable position. The
position is strengthened through the building of a
Fund, from legacies, within our endowment that
supports the operational costs of the Foundation.
A benchmark of CPI+4% is used as a key
performance indicator. The 3-year annualised
return was 6.1% (2023: 10.3%) compared to the
benchmark of 10.9%, reflecting the impact of high
inflation during this period. Encouragingly the
total return for the year was ii.i% (2023: _1.4%)
compared to the benChn￿rk of 7.6%.
Restricted Funds
Most of our income and expenditure is in the
form of restricted funds supporting our funding
programmes and other charitable work.
Restricted income for the year was £3,500,291
(2023: £5,224,540) and expenditure was
£4,222,987 (2023: £5,265,945).
HITURE PLANS
We have made good progress against the goals set
out in our 2021-2025 strategyi and we will
continue to follow the path we have set out, while
responding to changing circumstances. In
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 8

particular, during 2024/25, we have set the
following goals:
We will also continue to focus on developing
strong relationships with professional advisers in
Somerset in order to facilitate more local
philanthropy in the long-terni, and we will, for the
first time, start to implement a legacy strategy.
Delivering more targeted and effective
funding
Over and above the management of our regular
programmes we will continue to seek
opportunities to increase the number and value of
unrestricted/core cost and multi-year grants that
we award.
In addition, we will put resources into building
our first Collective Giving Funds, starting with the
Sonierset Youth Fund.
Building an organisation that is fit for the
future
We are exploring ways in which we can provide
more consistent approaches to the way we
manage our place-based Funds.
During the coming year we will complete the
process of setting up a new Customer
Relationship Management database which will
irnprove the user experience for grant applicants,
enhance the serviees we can offer to donors and
strengthen tbe way we will monitor the impact of
our funding.
Using our knowledge and insight
During the year we aim to produce 2 new Hidden
Somerset reports. We will also define priorities
for our new Collective Giving Funds.
We will also introduce a new recruitrnent poliey
for staff and Thjstees to ensure our practices
enable us to attract the skills, expertise and
experience we need to grow and develop the
Foundation.
We will continue to convene the Somerset
Funders Forum in order to facilitate the excliange
of knowledge and good practice between funders
operating in Somerset and explore opportunities
for collaboration.
Finally, we will be developing a bold and
ambitious io-year Strate￿ for the Foundation,
drawing on the growth and experience from
recent years to build a more impactful Somenset
Community Foundation for future generations.
s]￿lficantlY growing fimding for our
communities
Most importantly we will complete the transfer of
2 local charitable trusts to our endowment with a
combined value of around £3 million.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | TRUSTEES, REPORT
Page 9

IEGAI AMD ADMISTRATIVE INFORMATION
Trustees
Michael Samuel MBE (Chair)
Chris Bishop
Amanda Ellingworth (appointed 27 January 2024)
Michelle Ferris
F&G, L, HPC
F&G, TSC
G, HPC
Helen Gulvin
Kokila Lane
Angela Kerr
John Lyon CB
Bruce Mclntosh
F&G, HPC, TSC
CI, F&G
Lucy Nelson DL
Louisa Raybould (appointed 6 October 2023)
David Taylor
Tim Walker
HPC, G
TSC
Giles Wood
ci
Kevin Whitmarsh (resigned 25 January 2024)
CI.. Co-Investment Committee.. F&G.. Finance & Gouernance Committee,. G.. Grants
Committee,. HPC.. Hinkley Point C Community Fund Awards Panel,. L.. Loons
Committee,. 7SC.. Trustee Search Committee
Chief Executive & Company Justin Sargent OBE DL
Secretary
Philanthropy Director
Operations Director
Programmes Director
Laura Blake
Mary Hancock
Andrew Ridgewell
Registered charity number
1094446
Registered company number 04530979
Registered Office
Yeoman House, Bath and West Showground, Shepton Mallet, Somerset, BA4
6QN
Auditors
AC Mole LLP, Stafford House, Blackbrook Park Ave, Taunton, Somenset, TAI
2PX
CAF Bank, 25 Kings Hill Ave, Kings Hill, West Malling, MEI9 4JQ
CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET
CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET
Evelyn Partners, Portwall Place, Portwall Lane, Bristol, BSI 6NA
Sarasin & Partners, Juxon House, loo St Paul's Churchyard, London EC4M
8BU
Clarke Willmott, Blackbrook Gate, Blackbrook Park Ave, Taunton, 2PG
Bankers
Investment Managers
Solicitors
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 10

STATEMENT OF TRUSTEES,
RESPONSIBILITIES
Prepare the financial statements on the going
concern basis unless it is inappropriate to
presume that the Foundation will continue in
business
The Trustees are also res
proper accounting recor
reasonable accuracy at any time the financial
position of the Foundation and enable them to
ensure that the financial statements comply with
the Com
anies Act 2006. They are also
responsicie for safeguarding the assets of the
Foundation and hence for taking reasonable ste
for the prevention and detection of fraud and ot
irregularities.
In so far as the Trustees are aware:
The Trustees, who are also directors of Somerset
Community Foundation (Limited by Guarantee)
for the purposes of company law, are responsible
for preparing the Trustees, Report (incorporating
the directors, report) and the financial ststements
in accordance with applicable law and United
Kingdorn Accounting Standards including
Financial Reporting Standard 102: the Financial
Reporting Standard applicable in the UK and
Republic of Ireland (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 view of the state of affairs of
the Foundation and of the income and
expenditure, of the Foundation, for that period. In
preparing these financial statements, the Trustees
are required to:
Select suitable accounting policies and then
apply them consistently
Observe the methods and principles in the
Charities SORP
onsible for maintaining
er
There is no relevant audit information of which
the Foundation's auditor is unaware, and
The Trustees have taken all steps that they
ought to have taken to make themselves aware
of any relevant audit information and to
establish that the auditor is aware of that
information.
The Trustees are responsible for the maintenance
and inte£rity of the corporate and financial
Information ineluded on the Foundation's website.
Legislation in the United Kingdom governing the
preparation and dissemination of financial
statements may differ from legislation in other
jurisdictions.
Approved by the Trustees on li October, 2024 and
signed on their
alf by
Make judgements and accounting estimates
that are reasonable and prudent
State whether applicable United Kingdom
Aecounting Standards have been followed,
subject to any material departures disclosed
and explained in the financial statements, and
Michael Samuel MBE (Chair of TrLLStees)
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 11

INDEPENDENT AUDITOR'S REPORTTO THE
MEMBERS OF SOMERSET COMMUNITY
FOUNDATION
Based on the work we have perfornied, we have not
identified any material uncertainties relating to
events or conditions that, individually or
collectivelyi may cast signifieant doubt on the
society's ability to continue as a going concern for a
period of at least twelve months from when the
financial statements are authorised for i&8ue.
Opinion
We have audited the financial statements of
Somerset Community Foundation (the 'Charitable
Our responsibilities and the responsibilities of the
Company) for the year ended 31 March 2024 which
trustees with respect to going concern are described
comprise the Statement of Finaneial Activities, the
in the relevant sections of this report.
Balance Sheet, the Statement of Cashflows and notes other information
to the financial statements, including a sutnmary of
significant accounting policies. The financial
reporting framework that has been applied in their
preparation is applicable law and United Kingdom
Accounting Standards. including Financial
Reporting Standard 102: The Financial Reporting
Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted
Accounting Practice).
The trustees are responsible for the other
information. The other information comprises the
information included in the annual report other
than the financial statements and our auditor's
report thereon. Our opinion on the financial
statements does not cover the other information
and, except to the extent otherwise explicitly stated
in our report, we do not express any form of
assurance conclusion thereon.
In our opinion. the financial statements:
give a true and fair view of the state of the
charitable company's affairs as of 31 March
2024 and of its incorne and expenditure for
the period then ended;
have been properly prepared in accordance
with United Kingdom Generally Accepted
Accounting Practice;
have been prepared in accordance with the
requirements of the Charities Act 2011
In connection with our audit of the financial
statements, our responsibility is to read the other
information and, in doing so, consider whether the
other information is materially inconsistent with the
financial statements or our knowledge obtained in
the audit or otherwise appears to be materially
misstated. If we identify such material
inconsistencies or apparent material misstatements,
we are required to determine whether there is a
material misstatement in the financial statements or
a material misstatement of the other information. Ef,
based on the work we have performed, we conelude
that there is a material misstatement of this other
information, we are required to report that fact.
Basis for opinion
We condueted our audit in aceordance with
International Standards on Auditing (UK) (ISAS
(UK)) and applicable law. Our responsibilities under
those standards are further described in the
Auditor's responsibilities for the audit of the
finaucial stateiiients section of our report. We are
independent of the charitable company in
aecordance with the ethical requirements that are
relevant to our audit of the financial statements in
In the light of the knowledge and understanding of
the UK, including the FRC'S Ethical Standard and
the charitable company and its environment
we have fulfilled our otlier ethical responsibilities in
obtained in the course of the audit, we have not
accordance with these requirements. We believe that
identified material misstatements in the Directors
the audit evidence we have obtained is sufficient and Report included within the trustees, report.
appropriate to provide a basis for our opinion.
We have nothing to report in this regard.
Matters on which we are required to report
by exception
Conclusions relating to going concern
In auditing the financial statements, we have
concluded that the trustees, use of the going concern
basis of accounting in the preparation of the
financial statements is appropriate.
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 12

INDEPENDENT AUDITOR'S REPORT TO THE
MEMBERS OF SOMERSET COMMUNITY
FOUNDATION
Our objectives are to obtain reasonable assurance
about whether the financial statements as a whole
are free from material misstatement, whether due to
fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high
level of assurance, but is not a guarantee that an
We have nothing to report in respect of the following audit conducted in accordance with ISAS (UK) will
matters in relation to the Charities (Accounts and
Reports) Regulations 2008 requires us to report to
always detect a material misstatement when it
exists. Misstatements can arise from fraud or error
you if, in our opinion:
and are considered material if, individually or in the
adequate and proper accounting records have
aggregate, they could reasonably be expected to
not been kept, or returns adequate for our audit
influence the economic decisions of users taken on
have not been received from branches not visited the basis of these financial statements.
by us" or
the financial statements are not in agreement
with the accounting records and returns; or
certain disclosures of trustees, remuneration
specified by law are not made; or
we have not received all the information and
explanations we require for our audit.
Identifying and asse&sing potential risks of
material misstatement due to irregularities
We considered the following when identifying and
assessing risks of material misstatement due to
irregularities, including fraud and non-compliance
with laws and regulations:
the legal and regulatory framework in which
the charitable Company operates
the sector in which the eharitable company
operates
the control environnient and controls
established to mitigate such risks
the results of our enquiries of management
about their identifieation and assessment of
risks of i￿egUla￿tieS
discussions with the audit engagement team
about where fraud might occur
the incentives for fraud.
Responsibilities of the trustees
As explained more ftElly in the trustees.
responsibilities statement, the trustees (who are also
the directors of the charitable company for the
purposes of company law) are responsible for the
preparation of the financial statements and for being
satisfied that they give a true and fair view, and for
such internal control as the trustees determine is
necessary to enable the preparation of financial
statements that are free from material
misstatement, whether due to fraud or error.
In preparing the finaneial statements, the trustees
are responsible for assessing the charitable
company's ability to continue as a going concern.
disclosingi as applicable, matters related to going
concern and using the going concern basis of
accounting unless the trustees either intend to
liquidate the charitable company or to cease
operations, or have no realistic alternative but to do
so.
Laws and regulations which are considered to be
significant to the charitable company include those
relating to the requirements of financial reporting
framework FRS102, the Companies Act 2006, the
Charities Act 2011, UK tax legislation, ernplojinent
law and health and safety. In addition, we consider
other laws and regulation which may not directly
impact the financial statements but may impact on
the operation of the charitable company.
Our responsibilities for the audit of the
financial statements
As a result of these procedures we concluded, in
accordance with International Auditing Standards,
that a risk in relation to the potential for
management override of controls existed.
The trustees have elected for the financial
statements to be audited in accordance with the
Charities Act 2011 rather than the Companies Act
2006. Accordingly, we have been appointed under
section 144 of the Charities Act 2011, and report in
accordance with the Acts and relevant regulations
made or having effect thereunder.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 TRUSTEES, REPORT
Page 13

INDEPENDENT AUDITORI REPORT TO THE
MEMBERS OFSOMERSET COMMUNITY
FOUNDATION
A CMOLE LLP
AC Mole LLP (Statutory Auditor)
Chartered Aceountants and Registered Auditors
Stafford House
Blackbrook Park Avenue
Taunton
Somerset TAI 2PX
Audit responses to risks identified
We undertook audit procedures to respond to the
risks identified and designed our audit testing to
respond to these risks. The additional procedures we
undertook included the following:
gaining an understanding of the charitable
company's pi'ocedur&s foi. ensuring
compliance with laws and regulations
testing the appropriateness of journal entries
and other adjustments
considering whether accounting estimates
were indicative of potential bias
considering whether any transactions arose
outside the normal course of business
making enquiries of management
corroborating our enquiries through review
of Board Minutes and correspondence.
11 OtrofjeR
2024
We also communicated relevant laws and
regulations and potential fraud risks to all
engagement team members and remained alert to
any indicators of fraud or non-compliance with laws
and regulations throughout the audit,
A fijrther description of our responsibilities for the
audit of the financial statements is located on the
Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities. This
description foims part of our auditoi s report.
A C Mole LLP is eligible for appointment as auditor
of the charity by virtue of its eligibility for
appointment as auditor of a conipany under section
1212 of the Companies Act 2006.
Use of this rcport
This report is made solely to the Charity's trustees,
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 trustees those matters we are
required to state to them in an auditors, report and
for no other purpose. To the fullest extent permitted
by law, we do not accept or assume responsibility to
anyone other than the charity and the Chariws
trustees as a body, for our audit work, for this
report, or for the opinions we have formed.
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 2024 | TRUSTEES, REPORT
Page 14

IVJ P41
In In
?4 41
L)￿Z￿￿ Z

11 ia
gx ¥ 8
¢x>
x&x

SUMMARY INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Income
3,411,920
485,288
3,897,208
(4,855,059}
1957,851)
25,044
140,534
1792,273)
5,386,127
259,523
5,645,650
(5,747,504)
(101,854)
(12,185)
125,765
11,726
Interest and Investment Income
Gross Income in the Reporting Period
Total Expenditure in the Reporting Period
Net Income Before Gains and Losses
Gains/(Losses) on Investments
Transfers
Net Ineome for the Financial Year
The summary income and expenditure account are derived from the statement of financial activities on
page 17 (excluding endowment fund incoming resources and resources expended) which, together with the
notes to the financial statements provides full information on the movements during the year on all the
funds. Excluded from the total net incoming resources in the statement of financial activities to arrive at
the above figure is £910,924(2023.' £135,472) of endowment income, £8,925 (2023: £25,489) of
endowment expenses and gain of £572,737, (2023: loss of £284,148) on investments.
All income and expenditure derive from continuing operations.
The notes form an integral part of these financial statements.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 17

BAIANCE SHEET AS AT 31 MARCH 2024
2024
2023
Notes
Fiyed Assets
Investments
Tangible Fixed A8sets
Total Fixed Assets
Non-current Assets
Current Assets
Investments
Debtors
Bank
Total Current Assets
Creditors: Amounts Falling Due
Within One Year
Net Current Assets
Creditors: Amounts Falling due
after One Year
Total Net Assets
The Funds of the
Charity
Unrestricted Fund
Designated Fund
Restricted Fund
Expendable Endowment
Fund
Total Charity Funds
11
13
9,416,189
71,712
9,487,901
389,126
8,211,157
80,540
8,291,697
453,676
12
12
14
105,342
357,283
7,163,287
7,625,912
(1,750,067)
5,875,845
(1,056,775)
14,696,097
81,219
1,523,629
6,401,954
8,006,802
(1,439,086)
6,567,716
(1,158,921)
14,154,168
15
16
17
17
17
300,806
431,345
4,881,400
9,082,546
14,696,097
287,621
496,391
5,621,812
7,748,344
14,154,168
17
These accounts have been prepared and delivered in accordance with the special provisions relating to
small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102).
For the year in question, the charitable company was entitled to exemption from an audit under section 477
of the Companies Act 2006.
The members have not required the charitable company to obtain an audit of its accounts for the year in
question in accordance with section 476 of the Act.
The trustees/directors acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved
eTr
es on li October 2024 and signed on their behalf by
Michael Samuel MBE
. Michelle Ferris FCA
Registered Company No: 04530979.
The not&8 form an integral part of these financial statements.
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 18

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024
Note
Total
2024
Total
2023
Cash Flows from Operating Activities:
Net cash generated from Operating Activities
21
883,943
713,252
Cash Flows from Investing Activities
Dividends and Interest from Investments
Purchase of Ehuipment
Proceeds from Sale of Investments
Purchase of Investments
485,288
259,523
(6,383}
1,537,779
{2,074,044)
2,853,698
13,597,532
Net cash (used in) Investing Activities
(258,546)
(283,125)
Change in Cash and Cash Equivalents in the
Reporting Period
625,397
430,127
Cash and Cash Equivalents at the Beginning of the
Reporting Period
6,585,857
6,155,730
Cash and Cash EquAvalents at the End of the
Reporting Period
21
7,211,254
6,585,857
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 19

NOTES TO THE FINANCIAI STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
been met, it is probable that the income will be
received, and the amount can be measured
reliably. Income from government and other
grants, whether 'eapital' grants or 'revenue' grants
is recognised in the same way unless it is
deferred.
i. Legal Status of the Foundation
The Foundation is a registered charity and a
registered company, limited by gwarantee, and
has no share capital. The guarantOTS are the
members whose Itability in the event of a
winding-up is limited to £1 each. There were 15
members at the balance sheet date (2023: 14).
Cash donations are recognised on receipt. Other
donations are recognised once the Foundation
has been notified of the donation unless
perfomianee conditions require deferral of the
amount. Income tax recoverable in relation to
donations received under Gift Aid is recognised at
the tizne of the donation.
2. Accounting Policies
Accounting Convention and Statement of
Compliance
These accounts have been prepared in accordance
with FRS 102 ' The Finaneial Reporting Staiidard
applicable in the UK and Republic or Ireland"
("FRS 102"), "Accounting and Reporting by
Charities" the Statement of Recommended
Practice for charities applying FRS 102, the
Companies Act 2006, the Charities Act 2011 and
UK Generally Accepted Accounting Practice as it
applies from i January 2019. The Foundation
meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially
recognised at historical cost or transaction value
unless otheiwise stated in the relevant accounting
policy note(s).
Legacies are recognised on receipt or when the
Foundation has been notified of an impending
distribution. the amount is known. and receipt is
probable. If the amount cannot be reliably
estimated, the legacy is treated as a contingent
asset.
Donated professional services and donated
facilities are recognised as income when the
Foundation has control over the item, any
conditions associated with the donated item have
been met, the receipt of economic benefit from
the use by the Foundation of the item is probable
and that economic benefit can be measured
reliably. In accordance with the Charities SORP
(FRS 102), the general time of the volunteers is
not recognised and refer to the Tii]stees' annual
report for more information about their
contribution.
The accounts are prepared in sterling, which is
the functional currency of the charity. Monetary
amounts in these financial statements are
rounded to the nearest £.
The accounts have been prepared on the historical
cost convention modified by the investment
assets, which are held at fair value. The principal
accounting policies are set out below.
On receipt, donated professional services and
donated faeilities are recognised on the basis of
the value of the gift to the Foundation which is the
amount the Foundation would have been willing
to pay to obtain services or facilities of equivalent
economic benefit on the open tnarket. a
corresponding amount is then recognised in
expenditure in the period of receipt.
Going Concern
At the time of approving the accounts, the
Trustees have a reasonable expectation that the
Somenset Community Foundation has adequate
resources to continue in operational service for
the foreseeable future. Thus, the Trustees
continue to adopt the going concern basis of
accounting in the preparation of the accounts.
Resources Expended
Expenditure is accounted for on an accruals basis
and has been included under expenses categories
that aggregate all costs for allocation to activities.
Where costs cannot be directly attributed to
particular activities, they have been allocated on a
basis consistent with the use of the resources.
Incoming Resources
Income is recognised when the Foundation has
entitlement to the funds, any performance
conditions attached to the item of income has
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 20

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
the amount paid out, with the carrying amount
adjusted in subsequent years to reflect
repayments and any accrued interest, adjusted, if
necessary, for any impairment. Concessionary
loans are assessed for evidence of impairment at
the end of each year. Last year, the charity was
gifted sorne land. The land was valued at fair
value at the date of the gift, with the value
included in the accouiits, and the value
considered at each subsequent year end.
Support costs are those costs incurred directly in
support of expenditure on the objects of the
Foundation and include project management
carried out at the Foundation's offices.
Governance costs are those incurred in
connection with the administration of the
Foundation and compliance with constitutional
and statutory requirements.
Current assets investments
Current assets investments are the proportion of
COn￿SsiOnary loans (treated as mixed motive
inV￿tMentS), which are due within 12 rnonths of
the balance sheet date. The concessionary loans
are initially recognised at the amount paid out,
with the carrying amount adjusted in subsequent
years to reflect repayments and any accrued
interest. adjusted, if necessary, for any
impairn]ent. Concessionary loans are assessed for
evidence of impairment at the end of each year.
Costs of charitable activities comprise grants
payable and support costs. Grants payable are
included in resources expended once the grant
application has been approved by the grants
committee and this has been communicated to
the grant recipient, except in those cases where
the offer is conditional, such grants being
recognised as expenditure when the conditions
attached are fulfilled. Grants offered subject to
conditions which have not been met at the year-
end are noted as a eommitment, but not accrued
as expenditure. Where multi-year grants are
offered, these are accounted for in full under the
criteria noted above,
Cash and Cash Equivalents
Cash and cash equivalents include cash in hand,
deposits held at call with banks and other short-
term liquid assets.
Fixed Assets and Depreciation
All capital assets with a value of less than £1,000
are expensed in the statement of financial
activities. Tangible fixed assets are initially
measured at cost and subsequently measured at
eost, net of depreciation and any impairment
losses. Depreciation on computer equipment IS 3
years to reflect the useful life of the assets.
Leasehold Property and Irnprovements
0 25 years (straight line)
Furniture and Equipment
3 years (straight line)
Financial Instruments
The Foundation has elected to apply the
provisions of Section li 'Basic Financial
Instruments, FRS 102 to all of its financial
instrurnents. Finaneial instruments are
recognised when the Foundation becomes party
to the contraetual provisions of the instrument.
The charity only holds basic financial instruments
as defined in FRS102. The financial assets and
liabilities of the charity and their measurements
are as follows:
Fixea Asset Investments
Listed investments are included in the balance
sheet at their market value at the balance sheet
date. Reali*d and unrealised gains and losses on
investments are included in the statement of
financial activities in the year in which they arise.
Investment income is credited to income on an
accruals basis.
Basie Financial A&sets
Basic financial assets, whkch include trade and
other receivables and cash and bank balances, are
initially measured at transaction price including
transaction costs and are subsequently carried at
amortised cost using the effective interest
method.
Charity uses total return approach to its
investment which is disclosed in note 23. Trade,
other debtors and loans (mixed motive
investments) are basic financial instruments and
are debt instruments measured at amortised cost
as disclosed in note 24. Investment portfolios are
basic financial instruments measured at fair value
Non-current asset investments
Non-current assets investments are the
proportion of concessionary loans (treated as
mixed motive investments), which are due after
more than 12 months from the balance sheet date.
The concessionary loans are initially recognised at
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 21

NOTES TO THE FINANCIAI STATEMENTS
FOR THE YEAR ENDED 31 fMRCH 2024
Unrestricted general funds - these are
fun(L8 which can be used in accordance
with the charitable objects at the
discretion of the T￿￿tees.
Designated funds - these are funds set
aside by the Trustees out of unrestricted
general funds for specific future purposes
or projects.
Restricted funds - these are funds that
can only be used for particular, restricted
purposes within the objects of the
Foundation. R&%trictions arise when
specified by the donor or when funds are
raised for particular, restricted purpose.
Endowment Funds - these are fijnds
whose assets provide a long-term source
of income to support the Foundation's
objects. llldividual donations to the
endowment fund may be unrestricted or
restricted if the donor has specified how
the income arising should be spent. The
Trustees have the power to spend the
capital if they so determine.
through the income and expenditure account.
Prepayments are not financial instruments. Cash
at bank and as part of the investments are
classified as basic financial instruments and are
measured at fair value.
Basic Financial Liabilities
Basic financial liabilities, including trade and
other payables, are initially recognised at
transaction price. Debt instruments are
subsequently carried at amortised cost, using the
effective interest rate method.
Trade payables are obligations to pay for goods or
services that have been acquired in the ordinary
course of operations from suppliers. Accounts
payable are classified as current liabilities if
payment is due within one year or less. Trade
payables are recognised initially at transaction
price and subsequently measured at amortised
cost using the effective interest method.
In many cases and with the prior agreement of the
donor one donation may be divided between
various funds. Further explanation of the nature
and purpose of each fund is included in note 17 to
the financial statements.
Trade creditors, accruals and other creditors are
financial instruments and are measured at
amortised cost as detailed in note 24. Taxation
and social security are not included in the
financial instrument's disclosure definition.
Deferred income is not deemed to be a financial
liability, as the cash settlement has already taken
place and there is an obligation to deliver services
rather than cash or another financial instrument.
Significant Judgements and Estimates
The Trustees have reviewed the operations of the
charity and have concluded that there are no
areas of significant management judgement or
key areas of estimation or uncertainty required to
be disclosed.
Pension Costs
The Foundation contributes to a defined
contribution pension scheme, the assets of which
are held separately from those of the Foundation.
The scheme is independently administered.
Contributions are charged in the statement of
financial activities as they fall due in accordanee
with the scheme rules.
Tax Status
The Foundation is exempt from any taxation in
relation to its charitable activities except for Value
Added Tax.
Loans Advaneed
One of the objectives of the Foundation is to
support existing and emerging enterprises
through the making of grants and loans. Loans
receivable by the Foundation are recognised when
funds are advanced to borrowers. Amounts due
for repayment after more than one year from the
balance sheet date are shown as long-tern]
debtors within current assets.
Operating Lease Agreements
Rentals applicable to operating leases where
substantially all the benefits and risks of
ownership remain with the lessor are charged
against profits on a straight-line basis over the
period of the lease.
Fund Accounting
Funds held by the Foundation are either:
Fees charged in respect of loan applications are
recognised in full when funds are advance to
borrowers. Interest receivable on loans is
recognised on an accruals basis when funds are
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 22

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
repaid and not when loans are advanced. Fees
and interest are deemed to be restricted income,
to be utilised in the making of future loans in
accordance with the fund objectives.
3. Donations and tEgacies
2024
2023
Bishop Fox's Th￿t
Corton Hill Trust
Discovery Fund
Field House Trust
HPC Community Fund
Hunt's Food Group
SCC Somerset Fund Grant
ICB Community Resilience Fund
Old Mill Fund
School for Social Entrepreneurs
Gamble Fund
Quartet to Wessex Water
SCC to Cost of Living
South Somerset DC to Cost of Living
Sedgemoor DC to Cost of Living
SW and Taunton to Cost of Living
Fairfield Charitable Trust to Cost of
Living
SW Enterprise Fund
Police and Crime Commissioner Fund
Other Donations and Grants (<
£70,000)
50,000
1,000,000
100,000
828,000
106,000
1,632,479 1,534,188
50,000
55,500
56,250
53,529
143,269
100,000
42,238
450,000
50,000
49,950
50,000
40,000
100,000
600,000
42,238
400,000
932,348 1,378,454
4,322,844 5,521,999
We are grateful to the following for their support during the year: Clarke Willmott. Brympton House, Albert
Goodman, Sumnierfield Developrnents, Andy Jennings (Andelli Art and Design), Cognique, Co-Foundryi
Hoare's Bank, Somerset Council.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Pa8e 23

NOTES TO TIIE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. Investment Income
2024
2023
Dividends on Equities and Fixed Interest Securiti&s
Interest on Cash Deposits
205,228
280,060
485,288
204,555
54,968
259,523
5. Expenditure on Raising Funds - Cunrnt Year
The costs comprise:
Unrestricted Restricted
Endowment
2024
Staff Salaries
104,765
15,735
120,500
Support Costs
Staff Expenses and Other Costs
Staff Training and Recruitment
Event Costs
Marketing and Promotion
Rent and Utilities
Postage, Printing and Stationery
IT Support
Bookkeeping and Accountancy Support
Subscriptions
Finance Charges and Insurance
Building Maintenance
Unrestricted Grant Making
Depreciation
Professional Fees
Investment Manager's Fees
1,028
963
4,496
1,100
2,030
649
3,758
325
4,281
4,469
6,483
263
1,291
1,370
4,496
1,100
2,296
748
4,135
460
4,633
4,831
6,483
266
99
377
13S
352
362
8,828
12,131
169
155,475
8,828
12,131
9,193
182,495
8,925
8,925
18,095
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 24

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5.LYpenditure on Raising Funds (Previous Year)
The costs comprise:
Unrestricted Restricted
Endowment
2023
stsff Salaries
58,652
55,263
113,915
Support Costs
Staff Expenses and Other Costs
Staff Training and Recruitment
Event Costs
Marketing and Promotion
Rent and Utilities
Postage, Printing and Stationery
IT Support
Bookkeeping and Accountancy Support
Subscriptions
Finance Charges and Insurance
Quality Accreditation
Unrestricted Grant Making
Depreciation
Professional Fees
Investment Manager's Fees
1,758
1,639
3,808
1,708
2,537
655
2,867
476
2,555
3,179
175
1,442
10,255
3,677
343
95,726
888
986
908
1,117
1,593
250
1,837
219
1,164
335
1,078
2,646
2,625
4,716
2,825
4,130
905
4,704
695
3,719
3,514
1,253
1,442
10,255
6,664
25,908
189,916
2,987
76
68,701
25,489
25,489
SOMERSET COMMUNITr FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 25

NOTES TO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Charitable Activities
Detailed by Fund
Unrestricted
Restricted Endowment
2024
2023
Grant Making
4,076,362
4,076,362
5,089,632
Dirert Support Costs
Staff Salaries
Staff Expenses and Other
Costs
Rent and Utilities
Marketing and Promotion
Postage, Printing and
Stationery
Staff Training and
Recruitment
IT Support
Boold(eeping and
Accountancy Support
Subscriptions
Social Investment Loan
Write-off
Finanee Charges and
Insurance
CCLA Capital Drawdown
Professional Fees
275,009
73,858
348,867
321,937
2,704
34,060
5,394
2,130
6,755
16,910
4,834
40,815
22,304
9,124
14,111
11,623
2,595
801
3,396
2,925
2,641
15,033
3,293
3,049
5,934
18,082
7,614
13,716
1,30D
17,124
165
2,848
1,465
19,972
2,171
11,644
11,987
11,987
30,300
2,598
1,005
(20,055)
(1,435)
101,311
4,177,673
3,603
120,055
47,764
508,968
4,585,330
4,364
(6,753)
16,267
439,043
5,528,675
49,199
407,657
407,657
Sub Total
Governance Costs
Management
Audit
Other Costs
Total
56,747
9,640
2,553
68,940
24,619
2,600
81,366
12,240
2,553
96,159
40,279
12,240
1,883
54,402
27,219
Total Expenditure on
Charitable
Activities
476,597
4,204,892
4,681,489
5,583,077
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 26

NOTES TO TIIE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. Charitable Activities (eont.)
Detailed by Fund (Previous Year)
Unrestricted
Restricted Endowment
2023
Grant Making
5,089,632
5,089,632
Direet Support Costs
Staff Salari&s
Staff Expenses and Other
Costs
Rent and Utilities
Marketing and Promotion
Postage, Printing and
Stationery
Staff Training and
Recruitment
IT Support
Bookkeeping and
Accountancy Support
Subscriptions
Social Investment Loan
Write-off
Finance Charges and
Insurance
CCLA Adv Capital Receipt
Professional Fees
254,393
67,544
321,937
7,543
10,846
9,522
1,581
3,265
2,101
9,124
14,111
11,623
2,620
305
2,925
6,904
11,470
710
2,246
7,614
13,716
1,903
10,222
268
1,422
2,171
11,644
30,300
30,300
2,972
1,392
(6,753
186
104,567
5,194,199
4,364
(6,753)
16,267
439,043
5,528,675
16,081
334,476
334,476
Sub Total
Governance Costs
Management
Audit
Other Costs
Total
40,279
9,195
1,883
51,357
40,279
12,240
1,883
54,402
3,045
3,045
Total EXpendI￿re on
Charitable Activities
385,833
5,197,244
5,583,077
SOMERSET COMMUNITr FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 27

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
7. Net Income/(Expenditure)
Net Income/(Expenditure) is stated after charging:
2024
2023
Auditor's Remuneration:
Audit of Statutory Financial Statements
Audit - Other
12,240
12,240
12,240
12,240
8. Trustees Expenses and Remuneration
During the year, Trustees were reimbursed £85 (2023.. £64) in expenses relating to their role as Trustee.
9. Related Party Transactions
During the year, the Foundation made grants worth £45,500 (2023: £177,154) to The Nelson Trust, a charity
of which J Sargent, Chief Executive, is a Trustee. The terms of, and process for providing this grant are the
same as all other grants made in the year.
io. Staff Costs
Employee Information
2024
2023
Salaries
Employer's National Insurance Contributions
Eniployer's Pension Contributions
487,210
43,056
20,467
550,733
418,660
36,951
20,520
476,131
There were 15 employees during the year Calculated on an average basis (2023: 14). The key management
personnel of the Foundation comprise the Chief Executive, Operations Director, Programmes Director and
Philanthropy Director. The total employee benefits of the key management personnel of the Foundation were
£257,950 (2023: £245B78). This year the charity has made ex-gratia payment to one employee for £2,126
(2023: £nil) on health grounds. Although not legally required this was done to demonstrate goodwill and
maintain a positive relationship with ernployee. There were no amounts outstanding at the year-end (2023:
£nil)
The number of employees whose annual emoluments were £60,000 or more were:
2024
2023
£60,000 - £70,000
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 28

NOTES TO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ii. Investments
Fixed Asset Investments
2024
2023
Listed Investments
Cash Held in Investment Portfolio
9,368,222
47,967
9,416,189
8,027,254
183,903
8,211,157
2024
2023
Listed Investments are made up as follows;
Market Value brought forward
Acquisitions at Costs
Sale Proceeds
Realised Gains/(Losses)
Unrealised Gains/(Losses)
Market Value Carried Forward
8,027,254
3,597,532
{2,853,6981
(84,118)
681,252
9,368,222
7,787,500
2,074,044
(1,537,779)
7,150
(303,661)
8,027,254
Book Cost Carried Forward
8,455,744
6,461,103
The above investments comprise fixed asset interest securities and equities of which £3,033.428 (2023:
£5,230,736) are UK Investments and £6,3349794 (2023: £21796,518) relate to investments held outside
the UK.
Additional realised gains of £647 (2023: £178) are shown in the Statement of Financial Activities which
relate to foreign exehange settlements and cash distributions.
Shareholdings which individually represent more than 5% of the eharity's investments are;
No. Of Shar
108,092
24,411
1,876,794
Investments
COIF Communities First SCF
COIF Somerset Community Foundation
Sarasin Endowments Fund Class A NIC
Market Value
£2,208,594
£498,777
£2,319,718
12.
Non-current Assets
2024
2023
Social Investment Loans at
Beginning of the Year
New tA)ans
Loan Repayments
Loan Write Off
Loan Interest
At End of the Year
444,895
80,800
(135,484)
(11,987)
26,244
404,468
410,955
128,334
187,354)
{30,300)
23,260
444,895
Land Gifted to the charity
Sub Total
90,000
494,468
90,000
534,895
Non-current A3set
Current Asset
389,126
105,342
453,676
81,219
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 29

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
13. Tangible Fixed Assets
Leasehold & Property
improvements
Furniture &
Equipment
Totsl
Cost
At the Beginning and end of the Year
Total
167,500
167,500
26,167
26,167
193.667
193,667
Depreciation
At the Beginning of the Year
Charge for the Year
At the End of the Year
91,218
6,700
97,918
21,909
2,128
24,037
113,127
8,828
121,955
Net Book Value
At the Beginning of the Year
At the End of the Year
76,282
69,582
4,258
2,130
80,540
71,712
14. Debtors
2024
2023
Other Debtors
Prepayments
342,532
14,751
357,283
1,506,848
16,781
1,523,629
15.
Creditors: Amounts falling due ￿thin one year
2024
2023
Grants Payable
Accruals and Deferred Income
Other Tax and Social Security
1,707,950
26,826
15,291
1,750,067
1,396,386
26,997
15,703
1,439,086
16. Creditors: Amounts falling due after more than one year
2024
2023
Grants Payable
1,056,775
1,158,921
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 30

8*41- Z8$3={-
11111É11132111151}}I

c•*0

•4 ery O e4
•) 4¢>
(*>
¢4
¢<uuuooo&t4t4(itstixXX&

¢4
¢7) (o
0¢7¥M
*J>
OEso71
rArrJcrjcn￿¢>50&..&￿

8*4iie• 0>8R8{8£8"
rnxQj￿
.Illlli

¢L4 eo
¢£4 U>
¢0
11" 11551
*c4
ao&... &oQ&.

(o e+4
a> ¢0 ea ¢4
rf4 e4 e4

c+4
-111¥:,11 551111 ,]
a:15
agi8gsa
f41ryryryr¢4r
o o o y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
D&signated Funds
Building and Maintenance Fund - for the upkeep and maintenance of Yeoman House
SYVN (Somerset Youth Volunteer Network) - to support youth volunteers in Somerset
Raising Aspirations Research Fund - to fund research in support of the Raising Aspirations mentoring
programme
Yeoman House - Funds donated to purchase Yeoman House. The funds have been ￿1]Y spent on
acquiring the leasehold property, Yeoman House. The fund balance will be reduced by depreciation over
the life of the lease.
Digital Transformation - Funds donated by legacy and designated to complete a rebranding exercise,
commission the build of a new website, and to introduce an updated CRM package.
Restricted Funds & Endowment Funds
Somerset Forever Fund - supporting the long-tenn development and growth of SCF'S philanthropy.
All other restricted and endowment funds that support our ￿ndIng programmes are listed with brief
descriptions on our website.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 |TRUSTEES' REPORT
Pa8e 39

NOTES TO THE FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 31 MARCH 2024
18. Analysis of Net Assets between Funds - Current Year
Unrestricted Restricted Endowment Total
Funds
Funds
Funds
Funds
Investments
Fixed Assets
Non-current Assets
Current Assets
Non-current
(Liabilities)
97,717
71,712
67,516
9,250,956
9,416,189
71,712
389,126
5,875,845
389,126
5,481,533
562,722
(168,410)
11,056,775)
4,881,400
(1,056,775)
14,696,097
732,151
9,082,546
18. Analysis of Net Assets between Funds - Previous Year
Unrestricted Restricted Endownient Total
Funds
Funds
Funds
Funds
Investments
Fixed Assets
Non-current Assets
Current Assets
Non-current
(Liabilities)
94,647
80,540
65,566
8,050,944
8,211,157
80,540
453,676
6,567,716
453,676
6,261,491
608,825
(302,600)
(1,158,921)
5,621,812
(1,158,921)
14,154,168
784,012
7,748,344
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 40

NOTES TO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
19. Financial Commitments
Capital
There were no eapital eommitments in respect of specific charitable projects or the purchase
of tangible fixed assets as at 31 March 2024 (2023: £Nil).
Operating lease
commitments
At 31 March 2024, the Foundation had outstanding commitments for future rninimum lease
payments under non-cancellable operating leases, which fall due as follows:
2024
2023
Within i year
Between 2 - 5 years
Over 5 years
8,316
4,749
28,062
22,262
26,131
26,131
62,509 53,142
Amounts recognised in the statement of financial activities as a cost during the period in
respect of operating lease arrangements amounted to £7,632 (2023-£3,656).
20. Transfers - Current Year
Unrestricted Restricted Endowment Total
Funds
Funds
Funds Funds
Income Fund
Capt Drawdown
Other
93,218
45,221
20,000
158,439
(93,218)
95,313
{20,000
(17,905>
1140,534)
(140,5341
20. Transfers - Previous Year
Unrestricted Restricted Endowment Total
Funds
Funds
Funds Funds
Income Fund
Capt Drawdown
Other
91,325
{91,325}
125,765
(26,297)
8,143
(125,765)
26,297
117,622
(125,765)
Ineome Fund relates to contributions to operational costs applied from the r&stricted endowment income
funds, in line with the terms of the funds. Capital Drawdown is the atnount of capital withdrawn from our
Endowment Fund and moved into Endowment Income funds in line with our total return policy. It also
includes withdrawal of unrestricted funds for capital projects. Other relates to the transfer of funds from
restricted ￿nd cover the operational costs of specific programmes.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 41

NOTES TO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
21. Reconciliation of Net Income to Net Cash Flow from Operating Activities
2024
2023
Net (Expenditure)/Income for the Reporting
Period (as per the Statement of Financial
Activities)
541,929
(288,204)
Adjustments for:
Depreciation Charges
Donation of Land
Losses/(Gains) on Investments
Dividends and Interest from Investments
Decrease/(Increase) in Debtors
Increase in Creditors
Decrease/(Increase) in Social Investments
Net Cash provided by Operating Activities
8,828
10,255
(90,000)
296,511
{259,523)
(228,050)
1,306,203
(33,940)
713,252
(597,134)
(485,288)
1,166,346
208,835
40,427
883,943
Analysis of Cash and Cash Equivalents
Cash in Hand
Cash Held in Investment Portfolio
Total Cash and Cash Equivalents
7,163,287
47,967
7,211,254
6,401,954
183,903
6,585,857
22.
Contingent assets
The charity has funding from EDF in relation to the Hinldey Point C Community Fund Programme.
Approximately £8 million (2023: £9millioii) l)as been committed to the charity but is not recogiiised in thdse
accounts as the conditions for recognition are not met.
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 42

NOTESTO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
23. Total Return Disclosure
The charity uses a total return approach to the investment of the endowment. The return is 4% which is
disclosed as below.
Current Year
Trust for
Investment
Unapplied
Total
Return
Total
Endowment
As at i April 2023:
Gift component of the endowment 7,748,344
Unapplied total return
Total
7,748,344
7,748,344
7,748,344
Movements in the reporting
period:
Gift of endowment funds
Investment return: realised and
unrealised gains and (losses)
Less: investment management
costs
910,924
910,924
572,737
572,737
(8,925)
{8,925)
Total
Unapplied total return allocated to
incoine in the reporting period
Net movements in reporting
period
910,924
563,812
(140,534)
1,474,736
(140,534)
910,924
423,278
1,334,202
As at 31 March 2024:
Gift component of the endowment 8,659,268
Unapplied total return
Total
8,659,268
423,278
9,082,546
423,278
8,659,268
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 43

NOTES TO TIIE HNANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
23. Total Return Disclosure continued
Trust for
Investment
Unapplied
Total
Return
Total
Endowment
Previous Year
As at i April 2022:
Gift component of the endowment
Unapplied total return
Total
7,735,139
7,735,139
313,135
8,048,274
313,135
313,135
7,735,139
Movements in the reporting period:
Gift of endowment funds
Investment return: realised and
unrealised gains and (losses)
Allocation from trust for investment
Less: investinent management costs
Total
Unapplied total return allocated to
income in the reporting period
Net movements in reporting period
135,472
135,472
(284,148)
1284,148)
(122,267)
122,267
(25,489)
1187,370)
1125,765)
(25,489)
(174,165)
(125,765)
13,205
13,#205
1313,135)
(299,930)
As at 31 March 2023:
Gift component of the endownient
Unapplied total return
Total
7,748,344
7,748,344
7,748,344
7,748,344
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 44

NOTES TO THE FINANCIAI STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
24. Financial Instruments
Categorisation of financial
instruments
2024
2023
Financial assets measured at fair value
through income and expenditure account
Financial assets that are debt instruments
measured at amortised cost
9,368,222
8,027,254
7,973,005
8,373,185
17 341227
16 400439
Financial liabilities measured at amortised
cost
2,791,551
2,505,104
Item of income, expenditurei gain or
losses
Income
Expense
Net
gains
Net
losses
2024
Financial assets measured at fair value
through income and expenditure account
485,288
597,134
485,288
597,134
Income Expense
Net
gains
Net
losses
2023
Financial assets measured at fair value
through income and expenditure account
259,523
296,333
259,523
296,333
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 45

NOTES TO THE FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 31 MARCH 2024
25. Grants payable
2024
2023
Organisations
Individuals
Grants to Individuals from UnrestTlCted Fund
Returned Grants to Groups and Individuals
Total Grants Payable
3,964,527
221,494
4,990,410
142,195
1,442
(42,973)
5,091,074
(109,659)
4,076,362
2024
Amount
Grants to Groups >£2000
41F Squadron Royal Air Force Air Cadets
Abbeyfield Taunton Defendamus Society Ltd
Accessible Transport West Somerset
Actiontrack
Adventure Therapy (2 Grants)
Age UK Somerset (2 Graiits)
Albermarle Centre
Arc (3 Grants)
Archiesxtra
ARK at Egwood (2 Grants)
Art Care Education
Art Experience Days CIC
Arts Taunton (2 Grants)
Ash Millennium Wood Management Group
Awe and Wonder pre-school creative sessions
Bishop Sutton Pre-school and forest c
Blue Flames Aniateur Boxing Club
Bridgwater Armed Forces and Veterans Breakfast
Club (Grant P
Bridgwater United Community Sports Trust
Brompton Regis Village Shop
Carymoor Environmental Trust (2 Grants)
CDST Ltd
Central Somerset Outdoor Learning Partnership
(Grant Payment
Centre for Outdoor Activity & Community Hub (2
Grants)
Centre for Sustainable Energy
Chard Community Hub (3 Grants)
Chard WATCH
CHARIS {2 Grants)
Charlton's Youth Club
Cheddar Arts Quarter CIC
Children's World
Churchinford and District Community Store
Citizens Advice Somerset (2 Grants)
2,OCrf)
3,609
2,500
4,800
6,000
27,800
5,000
23,800
3,000
8,000
3,000
2,500
7,500
2,000
5,000
2,0(K)
3,orfi)
3,000
2,474
3,000
5,608
3,200
9,395
11,000
5,000
10,130
5,000
8,200
2,000
2.000
4.250
5,900
78,CK)O
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 46

Citizens Advice South Somerset
CMIST, Community Men in Sheds Taunton
Community Council for Somerset (4 Grants)
Contains Art
Cossington Parish Council
Countrymen UK
Court Fields Community School
Court Fields School
Create & Thrive
Creech St Michael Village Hall
Cruse Bereavement Care Somerset
Cultivating Community
Dance 4 Parkinsons Wells
Dunster Festival
East Huntspill Crieket Club
Edventure Frome
Equine Rewilding CIC (t/a Paintedhorse)
Escape Support Group
Escapeline (3 Grants)
Evercreech Youth Club
Evolve Music
Exmoor Community Bus Association
Exmoor Community Youth Club
Fair Frome (3 Grants)
Family Counselling Trust Somerset
FASD Hub South West
Feed Avalon
Focus Counselling
FordHaven
Friends of St.Leonard
Frome Birth Talk
Frome Festival
Frome Field 2 Fork CIC
Gardening Together (2 Grants)
Glastonbury Mental Healtli Network
Gocreate Taunton CIC (2 Grants)
Green Ilminster
Green Wedmore
Growing Space
Guildhall Young Artists Taunton
Heads Up
Health Connections Mendip (Frome Medical
Practice CIC)
Healthy Babies UK
Henhayes Centre
Home-start Blaekmore Vale
Home-start West Somerset (2 Grants)
In Charley's Memory (2 Grants)
In the Mix Youth Project (3 Grants)
Julian House
30,000
4,950
5,000
11,OCM)
4,000
3,200
2,000
4,926
3,850
3,783
4,000
2,000
4,794
2,5(M)
15,C(M)
3,120
3,500
3,312
3,000
6,350
3,000
5,000
3,5CN)
2,000
5,000
2,500
5,000
2,500
10,000
3,950
10,000
2,500
5.000
21,434
22,500
30,160
2,262
3,000
13,098
11,081
12,000
23,000
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 47

Key4Life
Kingsmead School - Cost Of Living
Kingsmead School IryA
Langport and Huish Episcopi Youth Group
LIFEbeat
Literally Shepton CIC
Livewest Homes
Loop:Frome (Frome Compost CIC)
Lopen PCC
Lost Projectz
Lost Projectz (formerly tA)St Projects)
Love Glastonbury
Loveable CIC
Make the Sunshine CIC
Mendip Community Credit Union
MHA Communities Meiidip
MHA Communities South Somerset
MHA Communities South Somerset & Mendip
District
Mind in Somerset
Minehead and Exmoor Music Festival
Minehead EYE (2 Grants)
Move the Mind Foundation CIO
Move the Mind Foundation CIO
Museum To You CIC
Neroche Woodlanders Ltd
Nightingales
North Curry Sport
North Taunton Partnership (3 Grants)
Nova Sports and Coaching
Oake and District Village Hall and Recreation
Ground (Grant
Onion Collective
Openstorffellers
Osprey Outdoors CIC
OSR Projects Art & Culture CIC
Our Community Fridge - Monkton Heathfield
PACE (Personal Achievements Creative
Experiences) (Grant Pay
Paddington Farm Trust (2 Grants)
Pilton Pre-school/Pilton Playgroup
Pitminster & Angersleigh Playing Field Association
Plotgate Community Fann
Polonia&Friends
Porlock Vale CIC (2 Grants)
Prodigal Bikes
Project Factory CIC
Project Food - Cooking with Confidence
PROMISEworks (2 Grants)
Purple Elephant Family Support
5,000
15,000
4,785
2,714
5,000
2,000
4,500
9,928
2,500
2,000
5,000
3,300
10,0
2,310
20,OCrf)
5,000
6,325
5,000
2,000
2,000
12,3
3,000
5,000
2,340
7,145
3,840
2,500
12,342
3,476
2,000
9,980
3,145
2,000
2,000
5,0Tr)
6,871
4,693
2,5CK)
5,000
2,438
5.000
4.000
12,534
2,496
14,526
5,716
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 48

Quartet Community Foundation (6 Grants)
Queen Camel Community Land Trust
Rama Life CIC
Rare Species Theatre
Reminiscence Learning (2 Grants)
Rethink Mental Illness
ROC Taunton Deane
Root Connections (2 Grants)
Rusty Road to Recovery
Second Step (2 Grants)
Seed of Hope
Shapwiek Parish Council
SHARE:Frome
Shared Earth Learning Co-op (2 Grants)
Sheba Soul Ensemble
Shepton Mallet Men's Shed
Social Circles (2 Grants)
Somerset Activity and Sports Partnership
Somerset African Caribbean Network
Somerset and Avon Rape and Sexual Abuse
Support
Somerset Bus Partnership
Somerset Child Contact Centres (2 Grants)
Somerset Community Credit Union
Somerset Counselling Centre
Somerset Youth Theatre CIC
Somerset Youth Theatre CIC
Somerton Town Youth Football Club
South Bristol Youth
South Chard Church (The HUB)
South Somerset Community Accessible Transport
(2 Grants)
Spark Somerset (2 Grants)
SSAFA Somerset
St Benedict's Church, Glastonbury
St Francis of Assisi Church, Bridgwater
St George's Church, Wilton
St John the Baptist Church, Pawlett
St Mary's, Bridgwater
St Peter's Community Centre
Stacked Wonky
Stand Against Violence (2 Grants)
Star Scheme
State of Trust
Stolce sub Hamdon Sports and Recreation Trust
(2 Grants)
Super Roots
Sweet Track Counselling Agency CIC
Tall Tails Theatre Company C.I.C
Taunton & District Mencap Society
187,184
10,000
5,000
3,000
6,605
2,000
5,000
8,000
4,736
11,300
5,OCN)
2,5cN)
2,5CN)
6,676
3,000
4,500
28,0
5,000
19,000
3,913
8,500
30,000
7,621
5,000
2,000
12,000
3,000
10,000
13,552
3,000
2,000
3,250
2,000
2,500
2,5CN)
5,260
5,000
4,970
5.0(K)
5.Crf)O
5,000
3,000
4,689
SOMERSET COMMUNITY FOUNDATION | YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 49

Taunton Street Pastors
Taunton Welcomes Refugees
The Balsam Centre (3 Grants)
The Be A Good Neighbour Scheme
The Bluebirds Theatre Company
The Chard Area Youth Committee (2 Grants)
The Coroners Court Support Service
The Equivalent Project (3 Grants)
The Food Forest Project (2 Grants)
The Friends of Mendip Hospital Cemetery
The Friendship Circle of Langford Budville and
Runnington
The Good Life Projects C.I.C
The Heard Therapy CIC
The Hub Yeovil Community Support Charity
The Nelson Trust (3 Grants)
Tlie Pod Youth Club
The Rewild Life Project CIC
The Rubbish Art Project (3 Grants)
The Salvation Army Watchet
The Somerseience Trust
The Space (2 Grants)
The Volunteer Network (2 Grants)
The Waffle Hub
Therapeutic Art Group
Time Banks UK (operating name: Timebanking
UK)
Towards Tomorrow Together
Victim Support
Victoria Park Community Centre (2 Grants)
We Hear You
Wedmore Tuesday Club
Wells Art Contemporary Ltd (2 Grants)
Wells Boxing Club
Wells Vineyard
Wessex Counselling and Psychotlierapy (2 Grants)
Wessex MS Therapy Centre
West Somerset Green Forum (Forum 21)
Westfield United Reformed Church, Bridgwater
Wiltshire Community Foundation
Windsor Hill Wood (3 grants)
Wiveliscombe Area Partnership (2 Grants)
Wiveliscombe Welcomes Refugees
Wivey Grows (party of Wivey Cares)
Wivey Kitchen CIO
Yeovil Art Space
Yeovil Opportunity Group
Yeovil Rivers Community Trust (2 Grants)
YMCA Brunel Group (2 Grants)
YMCA Dulverton Group (2 Grants)
2,800
4,000
38,721
2,000
4,000
7,868
2.5
12,500
5,6
2,OCN)
2,0
10,000
2,984
4,OCI)
45,500
5,OC
2,OC()
27,000
2,5
2,5(K)
9,000
6,500
5,000
2,935
3,000
10,000
14,736
5,0(h)
2,OCK)
6,0
5,0
S,OCK)
6,000
5,000
11,OCK)
6,000
3,300
11,500
6,510
5,000
2,458
10,000
4,500
5,000
12,500
57,000
62,000
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 50

Young Somerset (2 Grants)
Your IT Now
Youth Connect South West
Youth Resource Services (The Rendezvous,
Sherborne) Ltd
Total Grants
144 Grants to Groups<£2000
Total Grants to Groups
8,334
3,150
2,000
5,000
1,937,507
127,190
2,064,697
HPC Grants
Actiontrack
2BU Somerset
Berrow Church of England Primary School
Berrow Community Association
Bosfest
Brainwave
Bridgwater Community Sports Thist
Bridgwater and Albion Rugby Football Club
Bridgwater Cricket Club
Bridgwater Foodbank
Burnham BMX Club
Burnham on Sea Motor Boat and Sailing Club
Burnham-on-Se8 and Highbridge Town Council
Burnham-on-sea Swimming Club
Burnham's Excellent Entertaining Society (BEES)
Burnham and Highbridge Community Assoeiation
Chilton Trinity Village Hall
Crimestoppers in the West Country
Diversity Voice
East Huntspill Parochial Church Council
Escapeline
Fiddington Village Hall
Forge Rhyne Allotment Association Limited
Highbridge Festival of the Arts
Holford Cricket Club
Homestart Southwest
In Charley's Meniory
Minehead and Coast Development Trust
Minehead Dementia Action Alliance
Minehead EYE
National Coastwatch Institution
Nature's Bond Sling Library CIC
North newton village hall
Otterhampton Village Hall
Parkrun Ltd
Parish Council Of Kilve
Phoenix (Bridgwater) Scout Group
Pride-on-sea
PROMISEworks
SBA CIC
96,000
75,000
10,000
31,513
5,OCN)
85,000
29,523
5,000
10,000
9,552
45,000
3,000
2,000
3,OCM)
20.000
3,478
22,677
25,910
1,897
189,650
4,500
2,200
3,500
8,820
150,000
112,750
10,000
5,OCwJ
172,840
24,999
3,500
10,000
5,701
2,800
1,400
5,000
3,500
185,466
120,000
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 2024 | ACCOUNTS
Page 51

Sedgemoor Playday
Seed Sedgemoor
Severnside Community Rail Partnership
Slams Sotnerset L£vels and Moors Shed
Somerset Sight
Somerset Youth Theatre CIC
Spaxton Cricket Club
SFfs - Specialist & Personalised Training Services
St Francis of Assisi Church, Bridgwater
St John the Baptist Church, Pawlett
Stogursey Parish Council
Stogursey Youth Club
Stowey Bears Pre School
Stowey Gardeners
Taunton Welcomes Refijgees
The Avenue Tennis Club (Burnharn on Sea) Ltd
The Parochial Church Council of St John the
Evangelist
The Thomas Poole Library Nether Stowey
Tiddlygigs
Woolavington Village Hall
Westfield URF from HPC
Total HPC CF Grants
2,000
6,670
10,000
4,920
85,000
10,000
5,000
43,564
5,000
5,000
2,000
5,000
5,000
1,5CK)
2,500
45,C
20,000
5CNJ
10,(h)O
1,859,830
Somerset Social Enterprise Grants
Interim Spac
40,000
Grants to Groups
Grants to Individuals
3,964,527
221,494
Grant Payment Returns and Reversals to Organisations
Grant Payment Returns and Reversals to Individuals
(99,449)
(10,210)
Total Grants
4,076,362
Somerset Social Enterprise Fund Loans,
Interim Spaces
80,000
i The Somerset Social Enterprise Fund grants and loans are made possible due to support from Somerset Council
and The Growth Fiind, a £5om partnership which uses a combination of grant funding¥ made possible thank8 to
National Lottery players, and loan finance from Big Society Capital and other eo-investors, to address specific gaps
in the social investment market. The programme is delivered by Access through a range of social investors. 14inds
from The National Lottery Community Fiind, linder the Growth Flind programme have been treated as restricted
funds, in these accounts.
SOMERSET COMMUNITY FOUNDATION I YEAR ENDED 31 MARCH 20241 ACCOUNTS
Page 52