Company registratlon number: Charlty registration number: 4928733 1100990 COLAB EXETER LTD. (A company limited by guarantee) Annual Report and Flnancial Statements for the Year Ended 31 March 2025 CoLab Exeter Thompson Jenner LLP I Colleton Crescent Exeter Devon EX2 4DG
CoLab Exeter Ltd. Contents Reference and Admlnistrative Details Trustees, Report 2to8 statement of Trustees, Responsibilitles Independent Audltor's Report ioto13 statement of Financlal Actlvittes 14to15 Balance Sheet 16 Statement of Cash Flows 17 Notes to the Financial Statements 18to32
CoLab Exeter Ltd. Reference and Administrative Details Trustees J Alder JEDent A Farnsworth H Groves J McLaren L Vanstone Secretary H Sklnner Senlor Management Team F Carden, Chief Executive Offlcer J Cook, Deputy Chlef Executlve Officer A Puleston, Head of Flnance Prlnclpal Offlce Wat Tyler House King William Street Exeter EX4 6PD The charlty Is Incorporated In England. Cornpany Registratlon Number 4928733 Charity Reglstratlon Number 1100990 Bankers The Co-operatlve Bank Santander Auditor Thompson Jenner LLP I Colleton Crescent Exeter Devon EX2 4DG Page I
CoLab Exeter Ltd. Trustees, Report The trustees, who are dlrectors for the purposes of company law, present the annual report together wlth the flnanclal statements of the charitable company for the year ended 31 March 2025, whlch comply wlth the current statutory requirements, the charlty's governlng document5 and prepared In accordance wlth the Accounting and Reportlng by Charlties.. Statement of Recornrnended Practlce appllcable to charitie5 preparing thelr accounts In accordan wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 1021 (effectlve l January 2015) - Icharltles SORP FRS1021, the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFR51021 and Ihe Companles Act 2006. Purposes and Alms CoLab is a mulll-agency wellbelng hub In Exeter. We enable people and organlsatlons to work together, to create the condltlons for people to lead their best Ilves and do thelr best work. and for organ15atlons to achleve thelr greatest Impact and value. The CoLab purposes, as set out In the objects ctsntalned In the Artlcles of Assoclation, are.. To promote any charltable purp05e5 for the beneflt of the communlty. prlnclpally but not excluslvely In Exeter. wlder Oevon, and the southwest of England Iherelnafter called "the area of benefit.) and, In partlcular the advancement of educatlon and learning the protectlon of health, and the relief of poverty, dlstress and slckness. To promote and organise collaboration and cooperatlon In the achievement of the above purposes, and to that end, to bring together in partnershlpi voluntary organlsatlons. businesses, statutory authoritles, communltles and cltlzens wlthln the area of beneflt. Alm: Our alm Is to respond sensltlvely and proactlvely to people wlth complex Ilves as a multl-agency partnershlpi In allgnment wlth shared value5, wlth common understandlng of the problem5 and a shared vlslon for change. From the work we have done to develop the culture, or context for all our offer, we have learned that our stakeholders value a compasslonate approach, Investment In communlty splrlt, and capaclty for people to Ilsten. respond proactlvely and lead change In thelr own lives and work. Our multl-agency hub brings together service5. voltes, and Ideas to create a new kind of clvlt Infrastructure rooted In dignity, trust, and belonglng. We support people wlth complex needs and redeslgn support systems to be more relatlonal, responslve, and communlty-led. Wlth a proven, collaborative model and real-world Impact, we offer ftjnders and partners a powerful Invltatlon to scale what works - together. Mlsslon: To ¢reate the condltlons for people to Ilve thelr bost Ilvgs Bnd dothelr best work. and for orEanlsatlons to achleve thelrÉreatest Irnpact ond vttlue. Vlsion: A Elv1¢ hub where people and partners thrlvo through etsllaboratlon, trust, and b•longlnx- VJhitt systems arofalrerp partlclpatlon Is deeper, and comrnunltyflourlshès. The Problem We Solve: In & landscape where systems oftvn fall thosewlth the most ¢omplvx need¥. CpLBb addresses the fYa8ment&tlon, ex¢luslon, and Infj4ulty In how servlces are dellvered. As a trustod ancho Instltutltsn. we offera vnodelof relthtlonshlp-eentred, trauma.Informed. artd craJX-SCttsrcoliAboratlon thatta¢kles ontron¢he¢l dl$advantsAe wlth Snnovatlon, rare. and Évldèrlce. Page 2
CoLab Exeter Ltd. Trustees, Report How our actlvltSes dellver publlc beneflt The organisatSon's maln actlvlties and benefsclae5 are Identified In the revlew below. The trustees confirm that they have complled wlth the requlrements of section 4 of the Charltles Act 2011 to have due regard to the publlc beneflt gUIdan published by the Charlties Commlsslon for England and Wales. Most of the actlvlties are delivered In partnershlp with other voluntary and community groups or statutory agencles and are undertaken to further the organlsation's charltable purposes for the publlc beneflt. CoLab Is a place-based charlty workrng to change what's possible for people faclng the toughest challenges- and to transform the systems that exclude them. In thls year we have worked to develop our flnancial stzbilitvi co-create a strategy for the comlng 3 years, revlew our staffing framework, develop our board ot trustees, expand and deepen our relatlonshlps locally and natlonally and contlnue to 9row an organisation that serves, supports and ampllfles the voices of the most marginallsed and di5advanta9ed communities in Exeter. At CoLab we are proud to be approachlng a slgnlflcant mllestone. Ten years as an anchor Instltutlon In Exeter, supportlng and awplifying the volces of the city's most dlsadvantaged and marglnallsed communltles. Llke many charlties, we face the ongolng challenge of dslng demand alongslde Ilmlted resources and a dlfflcult fundlng landscape. In response. we are eager to forge new relatlonshlps wlth fellow cltlzens of Exeter- people who share our vision and want to help sustain and grow our work in the future. CoLab brlngs people and organlsatlons together to tackle complex soclal challenges In Exeter. We are a place- based, relatlon5hip-centred charlty and clvlc hub. CoLab was flrst concelved as a Collaboratlve Communlty and Social Laboratory - space where partnershlp and experfmentatlon could come together to address deep- rooted soclal 15sues. Today, we brlng together more than 30 organisations projects under one roof, worklng collaboratively to support people experlenclng multlple disadvantages, Includlng homelessness, trauma, mental S11- health, substance misuse and Involvement with the crfmlnal Justlce system. Our Strateglc prltsrities for 2025 - 2028 l. Bulld Stronger foundatlons for trauma-lnformed, relatlonship-based work. 2. Focus on tatIng the systems, skllls, and 5VPPOrt needed to dellver care thatls grounded In trust, safety, and connectlon. 3. Grow and diversify income In a planned and strateglc wayi embraclng partnershlp and exploring new fundlng models. 4. Develop new eamed Income stream5 through a Jolned-up approach led by seNlce heads and the Income generatlon team. 5. Increase communlty power and volce through cltlzen assemblles, storytelllng. and actlve engagement at local and natlonal levels. 6. Create more opportunltles for people to shape declslons and Share lived experlence to Influence change. 7. Improve dlgltal tools to boost acsS, share Impact, and work more efficiently. 8, Use dlgltal solutlons to make servlces easler to use, tell compelllng storles, and streamline operatlons. 9. Expand natlonal Influen by sharfng our model. bulldlng research partnershlps. and spreadlng learnlng to challenge Inequallty. 10. Turn local 5vccess Into wlder change through collaboratlon, evldence, and advocacy. Page 3
CoL#b Exeter Ltd. Ti'ustees, Report A Ilnk to our newly released strategy and companlon plece Iv rHI .tolabexeter.or what-w ur-histo Durlng the year we undertook a revlew of the staffing framework resultlng In the structure below, verslon accurate to the December 2025 posltSon. Our Intentlon Is create an asplration model for progresslon pathways and long-term sustainabS11ty. In the year ahead we wlll develop the Heads OF Servlce team to bulld on the vislon of a dlstdbuted leadership model that bullds resllience and 5UStalnablllty across the organisation. ¢oLabWomen SUPPOrt workefs¥l CoLabWomen FlrstlNèxiStèP5Workor x 2 CoLabWomen SmallwoodTrust Oat8 & Adfflln Support x I Hl8h Inienslty Us8 Caseworkers x3 Hub Admlnlstratorx2 Mental Health Recovery Workerx I Peer Mentorsystem ChanRe ChamploThx 14 Research & Oata Offlcer x I ULA ProlectAtlmlnlstraiorxl WBEC Communlty ConnectOFS]t 6 WBEC Pro8ramAdmlnlstrator x I Welcome Team Na¥lgatorsx 2 Servlce Dellvery & Adminlstratlon Communlty Conntctlons Coordlnaior HIBh Intenslty LSseCBsework Cooydlnator Learnlng& DtllveryCoordln8tor W5plratlonaU Men'sGroup Coordlnatcr PosltlveActlvlty Coordlnator (Asplratlonai) R•sear¢h & Impa¢t Coordlnator (A6plratlortall Welcome Team Coordlnator Project Coordlnators Strvice Lead lor DDAAX 2 Servlce Lead for Devon MentalHealth Alllanc• Servlco Lead for Communlty Montal Health IParinershlpsl, Servlce Lead foF Hub & Bv51ne$s Servlee Leadfor One Mental trtealth Team SeTvlce Lead for People &HR Pi&ctlcg Lead for Llved Éxperlenceand System Chan89 Practlce & Service Leads Hèad of Service torCoLabWomen Head of Servlee forcomplex LIV85 Héad of Servltefor Hub &8uslnes5 l Head Of Servlce for Learnlng '.Moad of Servicefor Reseaich &lmpaet Head ofSerylceforWèllbeln8' •P. Heads of Servlce Senior Leadershlp Igf Ei¢cutlve Officer putyCEO IDlr£ctorof Practle¥<operatlori rectorof Flnan¢e We are grateful-f.or the dedlcatlon of our Incredlble board of trustees who support and empower the teams In thelr determination to contlnue to make a difference desplte our uncertain times. We recognise and thank the people that go that extra mile every day because of their shared belief In what we do. We will strive to contlnue providing a trusted place where visitors are welcomed, valued and respected. Page 4
CoLab Exeter Ltd. Trustees, Report Trustees J Alder (from Dember 2023) JEDent (from October 2020) A Farnsworth (from )une 2021) H Groves (from May 2024) J McLaren (from March 2022) A Rome (to May 2024) S Stevens (to January 2025} L Vanstone (from March 2022) Trugtee recrultment CoLab contlnues to grow and develop and now need to broaden our trustee base. Partlcular areas of expertlse to recrult to Include people wlth a finance. fundralslng or legal background. Governlng Oocument Exeter CVS became a charltable company Ilmlted by guarantee, Incorporated on 10th October 2003 and glstered as a charity in December 2003. The company was established under a Memorandum of Association, whlch descrlbed the objects and powers of the charltable companyi and Is governed under Its Artlcles of Associatlon. In order to brlng It In Ilne wlth the requirements of new company law, the constitution was amended by speclal resolutlon at a meeting orh 3rd March 2010 and reglstered a Companles House on 10th March 2010. In October 2018 It reconstltuted and changed Its name to CoLab Exeter Ltd. The Trustees are appointed In accordance wlth the Artlcles of As50clatlon. The members elect persons to be Trustees at the Annual General Meetlng. Recrultment and Appolntment ef the Board The Non-Executlve directors of the cornpany are also tharfty trustees, for the purposes of charlty law, and under the company's artlcles, are known as members of the Board of Trustees, The Artlcles of Assoclation states that: The Term of Appolntment for Trustees shall be for three years, with an optlon serve for a second three year perlod. Thus the maxlmum duration OF Appolntment wlll be for slx years. In exceptional circumstances a Trustee who has completed the maxlmum term of slx year5 may serve a further temi of 12 months. Thls provlslon can only be used once In SpeCt of a Trustee. Trustee Induttlon and Training The oryanlsatlon has an Induction pack with Is introduced to all trustees when they joln. The pack covers Information about the organlsatlon,. a copy of the £on5titutlon; terms of reference for Board of Trustees and sub-commlttees. organlsational strurture,. role descrlptlons and person specification for trustees and honorary officers. background Infomiatlon about the core servlces and projects, and other Informatlon to enable the trustees to carry out their role effectlvely. New trustees re5Ve an Invltatlon to 5es5ions to help famlllarlse them with the organlsatlon. All trustees are Invlted to attend staff days. open days and exhlbltions of the organlsatlon's work. Page 5
CoLab Exeter Ltd. Trustees, Report Governance and Internal Control The Board of Trustees led by Chalr Julie Dent has met quartedy throughout the year, and addltlonally wlthln the Flnance sub-commlttee. The CEO Is also responslble for ensuring that the servlces of CoLab Exeter are dellvered effectlvely, but many day- to-day re5ponslbllltles are delegated to other staff as appropriate. CEO has implemented weekly SLTIOperatlons meetlngs, monthly extended SLTIFinance rneetlngs alongslde CoLab wlde Operatlons meetlngs led by Deputy CEO. The governance and bullt In reslllence Is also reftected In the implementation of the leadershlp team. The 8oard and sub-commlttees have Identlfied the major rlsks that the charlty Is exposed to. and have Implemented Systems to manage those rlsks, whlch are revlewed periodically. Related partles Some elected trustees are also elther staff or trustees of partner organlsatlons, therefore these organlsatlons are deflned as 'related partles,. All SeIceS and opportunitie5 For co-work are offered by CoLab Exeter to all organlsatlons equally and by releVall and merlt, whether or not they are 'related partles,. No one organlsatlon or individual representatlve has a greater democratic or financial stake in CoLab Exeter than any other, and as such the Board Is satlslied that there are no Persons of Slgnincant Control wlthln the organlsatlon. Annual Declaratlon of Inte5t$ forms are slgned by all Trustees and vert)al declaratlon5 are requested at the start of any Trustee Meetlngs. Flnanclal Revlew Overvlew of year end posltlon: Income by year 250LNJOO 2000000 1500000 Iwoooo 500WO 2017 2018 2019 2020 2021 2022 2023 2024 2025 IncornE Linear Ilntomel In the year, CoLab achleved Its hlghest level of Income In Its hlstory as well as obtalnlng an Increase In resees. The accounts for the year endlng 315t March 2025 show CoLab had a surplus of £80,84712024'. £3,464). Income Increased by 46.60kn to £2,071,915 {2024: £1,413,363). CoLab's total funds Increased by £80,847 {2004.. £3,464). CoLab's unrestricted funds In£aSed by £79,408 to £531,729. CoLab's restricted funds Increased by £1,439 to £10,213 (Note 22). Unrestricted funds represent fe reserves which is for the working capital for the Charityi the provlslon of Wat Tyler Houlse for projects and outside agencles and deslgnated funds. Deslgnaied funds Include the Property ftjnd Page 6
CoLab Exeter Ltd. Trustees, Report (for whlch depreclatlon Is charged to It each yearl, and funds provided by donatlons from Natwest and Atass. Restrlcted funds have been spllt Into Expendlture Projects (where Income has been recelved and expend5ture Is Incurred to complete the purpose the funds were provldedl and Capltal Projects {where Income has been recelved and the expendlture Is capltallsedl. There are currently no restrlcted capltal funds. During the year, Unrestricted Free Resetves have decreased from £170,653 to £106,460 due to a larger than usual transfer to fully fund the Deslgnated Property Fund. In the oplnlon of the trustees, thls wlll provlde a better understanding of how the different types of reseNes are made up. The Deslgnated Property Fund now represents the full Flxed Assets as shown on the 8alance Sheet. The Unrestrlcted Free Reserves represents the funds avallable as working capltal. Thls year has been a year of transltlon, as a number of projects ended and new projerts commenced. It Is expected that the followlng year wlll see an Increase costs resultlng In tlghter marglns on a number of projects. CoLab will need to Increase the Unreslrlcted Free Reserves golng forward. Reserveg Pollcy The Board of Trustees Is monltorlng progress on the Unrestrlcted Free Reserves regularly and In accordance wlth Charlty Commlsslon guldellnes remaln commltted to Increaslng organlsatlonal cash reserves sufflclently In order to meet three months of operating costs. The balance of the Charlty'5 Unrestricted funds contlnye to be predomlnantly represented by the Deslgnated Property Fund whlch now matches the F(xed Assets as shown on the Balance Sheet. CoLab's requirement for adequate worklng capltal Includes meetlng the loan rep3yrnent to Exeter City Councll. Increaslng reserves across the flxed and current assets remalns part of the overall strategy for the charlty. Golng concern Thls assessment requlres the Trustees to conslder whether there are any material uncertainties relating to events or condltlons that may cast 51gnificant doubt on the abllity of the charlty to contlnue as a golng concern for 12 months followlng the date of the approval of the flnanclal statements. The Trustees recognlse that Its reseNes are low and that thls represents a vulnerablllty for the charlty. However, through close mtsnltorlng of our re reserve5 P051tlon we are confident that the charlty Is sufflclently aglle to be able to respond to further fundlng challenges. Concluslon Julle Dent CBE Chalr of Trustees concludes.. A5 Chair of Trustees.15peak on behalf of the whole board when I say how Immensely proud we are of what has been achleved so far- and how excited we are about what comes next. At its heart. CoLab is about people. IYS about working together, putting individuals at the centre of everything we do, and striving to be the best employer we can be for our dedicated Staff. CoLab Is about partnership- working alongside others to help people make meaningful changes In thelr Ilves. We offer hope and support, while recognising that change can be difficult. But we never give up. If one approach doesn't work, we try another- always responding to the unique needs of each person we work with. Our staff conslstently go the extra mlle- whether It's Staying with someone in crisis, buying Christmas presents. or ensuring people are safe during extreme weather. We've received countless messages of thanks from famllies. frlends, and those we support. Thelr compa551on and care are recognised and appreciated by everyone they meet. Page 7
CoLab Exeter Ltd. Trustees, Report This year, we had the great privilege of welcoming Her Majesty the Queen to CoLab. She was deeply moved bv what she saw and heard- and asked to be kept informed about our future plans. Her question to me-"Why aren't there more organlsations like this7" is one that stays with us as a board and will shape how we thlnk about the future. This strategy is one way we begin to explore that challenge. Please support us in any way you can, as we continue our mls51on to offer care, compassion, and hope to those facing complex personal and soclal challenges- in an ever-changing world. Dlstlosure of Informatlon to Independent examiner Each trustee has taken steps that they ought to have taken as a trustee In order to make themselves aware of any relevant audit Inforfflatlon and to establlsh that the charity's Independent examlner Is aware of that Informatlon. The trustees confirm that there is no relevant Informatlon that they know of and of which they know the independent examlner Is unaware. The annual report wa5 approved by the trustees of the charlty on behalf by: Dernber 2025 and signed on Its JEDent Carden Chlef Executlve Offir Chalr of Trustees Page 8
CoLab Exeter Ltd. Trustees, Responsibilities The tnjstees {who a also the dlrectors of CoLab Exeter Llmlted for the purposes of company lawl are responsible for preparlng the trustees, report and the flnancial statements In accordance wlth the Unlted Klngdom Accountlng Standards {Unlted Klngdom Generally Accepted Accountlng Practlcel and appllcable law and regulatlons. Company law requlres the trustees to prepare financlal statements for each flnanclal year. Under company law the trustees must not approve the flnancial statements unless they are sat15fled that they glve a true and falr vlew of the state of affalrs of the charltable company and of Its Incomlng resources and appllcatlon of resources, 5ncludlng Its Income and expendlture, for that perlod. In preparlng these flnanclal statements, the trustees are requlred to.. select sultable accountlng pollcles and apply them conslstently. observe the methods and prlnclple5 In the Charitles SORP,. make judgements arld estlmates that are reasonable and prudent; state whether appllcable UK Accountlng Standards have been followed. subject to any materlal departures dlsclosed and explalned In the flnanclal statements. and prepare the flnanclal statements on the golng conrn basls unless It Is Inapproprlate to presume that the charltable company wlll contlnue In buslness. The trustees are responslble for keeplng adequate accountlng records that are sufflclent to Show and explaln the charltable company's transactlons and dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charltable company and enable them to ensure that the flnanclal statements comply wllh the Companie5 Act 2006. They are also responslble for safeguardlng the assets of the charltable company and hence for taklng reasonèble steps for the preventlon and detectlon of fraud and other Irregularltles. The annual report wa5 approved by the trustees of the chaty on behalf by.. etember 2025 and signed on Its JEDent Trustee Page 9
CoLab Exeter Ltd. Independent Audltor's Report to the Trustees of CoLAb Exeter Ltd. Oplnlon We have audlted the flnanclal statements of CoLab Exeter Ltd (the 'charlty'l for the year ended 31 March 2025, whlch comprlse the Statement of Financlal Activltles, Balan Sheet, statement of Cash Flows and the notes to the flnanclal statements, Includlng slgnlficant accountlng pollcies. The flnancial reporting framework that has been applled In thelr preparatlon Is Unlted Klngdom Accountlng Standards, comprlslng Charltles SORP - FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland. and applicable law {United Klngdom Generally Accepted Accountlng Practlcel. In our oplnlon, the flnanclal statements.. glve a true and falr view of the state of the charlty's affalrs as at 31 March 2025 and of Its Incomlng resources and appllcatlon of resources, Includlng Its Income and expendlture for the year then ended. have been properly prepared in accordance with Unlted Klngdom Generally Acpted Accountlng Practlce,. have been prepared In accordance wlth the requlrements of the Companies Act 2006. Basls for oplnlon We condurted our audit In accordance wlth Internatlonal Standards on Audltlng {UK) (ISA5 (UK)) and appllcable law. Our responslbllltles under those standards are further descrlbed In the Audltorfs responslbllltles for the audlt of the financial statements sertlon of our report. We ère Independent of the charlly In accordan with the ethlcal requlrements that are relevant to our audlt of the flnanclal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal re5pon51bllSties In accordan wlth these requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent and appropdate to provlde a basls for our oplnlon. Concluslons relatlng to golng concern In auditing the financial statement5, we have concluded that the trustees, use of the golng conrn basls of accountlng In the preparatlon of the ftnanclal statements Is approprlate. Based on the work we have performed, we have not Identified any material uncertalntle5 relatlng to event5 or condltions that, Indlvldually or collectlvelyi may cast slgnlflcant doubt on the charlty's ablllty to contlnue as golng concem for a perlod of at least twe5ve months from when the flnanclal statements are authorlsed for Issue. Our responslbllitles and the responslblllties of the trustee5 wlth respect to golng coftcern are described In the relevant sectlons of thls report. other Inlormatlon The trustees are responslble for the other Information. The other Informatlon comprlse5 the Information Included In the annual report, other than the flnanclal statements and our audltor's report thereon. Our oplnlon on the flnanclal 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 concluslon thereon. In connectlon wlth our audlt of the flnanclal statements, our responslblllty Is to read the other Informatlon and, In dolng so, conslder whether the other Informatlon Is materially Incon515tent wlth the financlal statements or our knowledge obtained In the course of the audlt, or otherwlse appears to be materlally mlsstated. If we Identlfy such materlal Inconsistencies or apparent material misstatement5, we are required to determlne whether thi5 glves r15e to a materlal misstatement In the flnanclal statements themselves. If, based on the work we have performed, we conclude that the15 a material misstatement of this other Informatlon, we ère requlred to report that fact. We have nothlng to report In thls regard. Page 10
CoLab Exeter Ltd. Independent Auditor's Report to the Trustees of CoLab Exeter Ltd. Oplnlons on other matters prescrlbed by tht Companies Act 2006 In our oplnlon, based on the work undertaken In the course of the aLtdlt.' the Information glven In the trustee5' report for the financlal year for whlch the financlal statements a prepared Is conslstent wlth the flnanclal statements. and the trustees. report has been pPared In accordance wlth appllcable legal requlrements. Matters on which we are requlred to report by exception In the Ilght of the knowledge and understandlng tsf the charfty and Its envlronment obtalned In the course or the audit, we have not Identified materlal misstatements in the trustees, report. We have nothlng to report In respect of the followlng matters In relation to whlch the Companles Act 2006 requlres LFS to report to you If, In our oplnlon.. adequate accountlng records have not been kept, or returns adequate for our audlt have not been recelved from branches not vSslted by us. or the financlal statements are not Sn agreement wlth the accountlng records and returns,. or rtaln dlsclosures of trustees, remuneratlon speclfled by law are not made,. or we have not reIVed all the Informatlon and explanatlons we requlre for our audlt. Responsibllitie$ of trustees As explalned more fully in the trustee5' responsibllitle5 Statement set out on page 9, the trustees are responslble for the preparatlon of the flnanclal statements and for belng satlsfled that they glve a true and falr vlew, and for such Internal control a5 the trustees determlne Is necessary to enable the preparatlon of financlal statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the financlal statements, the trustees are responsible for assessing the charlty's ablllty to contlnue as a 90ing cOnrn, disc105ingi a5 applicable, matters related to going concern and uslng the going concern basis of accountlng unless the trustees elther Intend to Ilquldate the charlty or to cease operations, or have no reallstlc alternatlve but to do 50. Audltor's responslbllltles for the audlt of the flnanelal statements Our objectlves are to obtaln reasonable assurance about whether the flnanclal statements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditorfs report that includes our oplnlon. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an audlt conducted In accordance wlth ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arlse from fraud or error and are consldered materlal If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basls of these flnanclal statements. As part of an audit In accordance wlth ISA5 IUKI, we exercise professlonal judgment and malntaln professional SptICIsM throughout the audlt. Irregularltles, Includlng fraud, are InStanS of non-compllance wlth laws and regulatlons. We deslgn procedures in line with our respon51bilities, outllned above, to detect material misstatements in respect of irregularitie5, Includlng fraud. The extent to whlch our procedures are capable of detectlng Irregularltles, IncludSng fraud Is detalled below. Page 11
CoLab Exeter Ltd. Independent Auditor's Report to the Trustees of CoLab Exeter Ltd. The extent to which the audit was consldered capable of detertlng Irregularltles Includlng fraud Our approach to IdentSfying and a55esslng the risk5 of materlal misstatement in respect of irregularlties, includlng fraud and non-compllance wlth laws and regulatlons, was as follows.. the engagement partner ensured that the engagement team collectlvely had the approprlate cornpeten, capabllltles and skllls to Identlfy or recognlse non-compllance wlth appllcable laws and regulatlons,. we IdentiHed the laws and regulations applicable to the charity through disClJ5sions with trijstees and other management, and from our commerclal knowledge and experlence. we focused on specific laws and regulations which we consldered may have a dlrect aterIal effect on the flnanclal statements or the operatlons of the charlly, Includlng the Companles Act 2006, Charltles Act 2011, taxation legislation, dats protection, anti-bribery, employment, fire safety and health and safety leglslatS0n: we assessed the extent of complIan wlth the laws and regulatlons Identlfled above through maklng enqulrles of management and inspecting legal Corresponden,. and Identlfied laws and regulatlons were communlcated wlthln the audlt team regularly and the team remalned alert to instances of non-compliance throughout the audit. We assessed the su$ptibI}1ty of the charfty's financlal statements to materlal mlsstatement, Includlng obtalnlng an understandlng of how fraud might occur. by.. maklng enqulrfes of management as to where they consldered there was susteptlb511ty to fraud, thelr knowledge of actual, suspected and alleged fraud,. and conslderlng the Internal tontrols In place to mltlgate risks of fraud and non-compliance wlth law5 and regulatlons. To address the rlsk of fraud through management blas and overrlde of controls, we.. performed analytical procedures to Identify any unustjal or unexpected relationships: tested Journal entrles to Identlfy unusual transactlons. assessed whether judgements and assumptlons made In determlnlng the accountlng estlmates were Indlcatlve of potentlal blas,. and investigated the rationale behind significant or unusual transactions. In response to the risk OF irregularities and non-compllance with laws and regulation5, we designed PrOdU5 whlch Included, but were not Ilmlted to.. agreelng flnanclal statement dlsc105ures to underlylng supportlng documentation,. readlng the mlnutes of meetlngs of those charged wlth governance,. enquiring of management as to actual and potentlal litigation and claims. and revlewlng correspondence wlth HMRC, relevant regulators Sncludlng the Health and Safety Executlve, and the charlty's legal advlsors. There are inherent limitatlons In our audit procedures descrlbed above. The rnore removed that laws and regulatlons are from flnanclal transactlons, the less Ilkely It Is that we would become aware of non-c0mp1lan. Auditlng standards also limlt the audit procedure5 requlred to Identlfy non-compllance with laws and regulations to enqulry of the trustees and other management and the Inspectlon of regulatory and legal correspondence, If any. Materlal rnlsstatements that arf5e due to fraud can be harder tts detect than those that arlse from error a5 they may Involve dellberate concealment or colluslon. A further descrlptlon of our responsSbi1Sties is avallable on the Financial Reportlng Councll's webslte at.. www.frc.or auditorsres onsibilities. Thls descrlption forrns part of our auditor'5 report. Page 12
CoLab Exeter Ltd. Independent Auditor's Report to the Trustees of CoLab Exeter Ltd. Use of thls report Thls report Is made solely to the charlty's members, as a bodyi In accordan wlth Chapter 3 of Part 16 of the Companle5 Act 2006. Our audlt work has been undertaken so that we mlght state to the charlty's members those matters we are requlred to state to them In an audltor's report and for no other purpose. To the fullest extent permltted by law, we do not acpt or assume responslbllity to anyone other than the charlty and the charlty's members as a bodyi for our audlt work, or the oplnlons we have formed. enThorLLP Davld Tucker (Senior Statutory Audltorl For and on behalf of Thompson Jenner LLP, Statutory Auditor I Colleton Crescent Exeter Devon EX2 4DG Date.. 1.1.11 £l.:z Page 13
CoLab Exeter Ltd. Statement of VinancÉAI Activltles for the YeAr Ended 31 March 2025 {Ineluding Income and Expendlture Aecount and Statement of Total Reeognlsed GAlns and Losses) Unrestrlcted Funds Restrlcted Funds Total Funds 2025 Total Funds 2024 Note Income from: Donations and legacles Charltable actlvltles Investment Income other Income 10,897 10,897 1,834,209 18,344 208,465 14,423 1,184,983 16,368 197,859 1,834,209 18,344 208,465 Total Income 237,706 1,834,209 2,071,915 1,413,633 Expenditure on: Charitable artlvltle5 1153,3891 11,837,679) (1,991,068 1,410,169 Total expendlture 1153,3891 11,837,679) {1,991,0681 {1,410,1691 Ntt Income l (exp¢ndlture) 84,317 13,4701 80,847 3,464 Transfer between funds {4,9091 4,909 Net movement In funds 79,408 1,439 80,847 3,464 Funds at the start of the year 22 452,321 8,774 461,095 457,631 Funds at the end of the year 531,729 10,213 541,942 461,095 All of the above results are derlved from contlnuing activltles. There were no other galns or losses other than those stated above. Movement In funds and transfers In funds are dlscosed above and In Note 22 to the flnanclal Statements. Durlng the year, the Charfty utlllsed brought forward specific de51gnated funds to cover budgeted expendlture Incurred as part of the contlnued dellvery of Charltable objectlves. Page 14
CoLab Ei xeter Ltd. Statement of Financial Activilies for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised GAlns and Losses) Comparatlve Statement of Flnanclal Actlvltleg for the Year Ended 31 March 2024 Unrestricted Funds Restrlcted Fund$ Total Funds 2024 Note Income from: Dtsnatlons and legacles Charitable activitles Investment Income 14,423 14,423 1,184,983 16,368 197,859 1,413,633 1,184,983 16,368 197,859 228,650 Other income Total Income 1,184,983 Expendlture on: Charitable activlties 1219,3131 (1,190,856) 11,410,169) Total expenditure 1219,3131 11.190,856) 11,410,169) Net Income l (expenditure) 9,337 15,8731 3,464 Transfer beiween funds Net movement In funds 9,337 (5,8731 3,464 Funds at the start of the year 22 442,984 14,647 457,631 Funds at the end of the year 452,321 8,774 461,095 All of the above results are derlved from contlnulng actlvltles. There were no other galns or105ses other than those stated above. Movement in funds and transfers in funds are dlscosed above and In Note to the flnanclal statements. Durlng the year, the Charlty utlllsed brought ftsrward speclflc designated funds to cover budgeted expenditure Incurred as part of the continued dellvery of Charltable objectlves. Page 15
CoLab Exeter Ltd. (Registration number: 4928733) Ba14nce Sheet as at 31 MAreh 2025 Note 2025 2024 Fixed assets Tanglble assets 15 420,372 452,794 Current assets Debtors Cash at bank and In hand 16 17 164,110 145,843 488,190 323,571 652,300 469,414 1384,8831 {301,2971 267,417 168,117 687,789 620.911 1145,847) 1159,8161 541,942 461,095 Credltors: Amounts falllng due within one year Net current assets Total assets less current 15abllStles Creditors: Amount falllng due after more than one year Net assets 19 Funds of the charlty: Unrestricted income funds Unrestrlcted Free Reserves 106,460 1,026 3,871 420,372 531,729 10,213 541,942 170,653 3,072 Deslgnated Natwest Fund Deslgnated AtaS5 Deslgnated Prtsperty Depreciation Fund 278,596 452,321 8,774 461,095 Restrlcted Income funds Total funds 22 22 These ftnanclal statements have been prepared In accordance with the speclal provlslons of Part 15 of the Companles Act 2006 relatlng to charltable small companles. The flnandal statements were approved by the Trustees onll Dember 2025 and slgned on thelr behalf by.. H Groves Trustee Page 16
CoLab Exeter Ltd. Statement of Cash Floivs for the Year Ended 31 March 2025 Note 2025 2024 Cash flows from operating activities Net cash Incomellexpendlturel Adjustments to cash flows from non-cash items Oepreclatlon Investment Income 80,847 3,464 48,106 118,3441 110,609 45,757 116,368) 32,853 Working capital adjustments (Increasel/Decrease in debtors IncreasellDecreasel in creditors {Decreasel/Increase In deferred Income Net cash flows from operating actlvltles 16 118,2671 114,370 130.7701 175.942 83,405 35,490 24 18 18 80.792 Cash flows from investlng actlvStles Interest recelvable and simllar Income Purchase of tanglble fixed assets Net cash flows from investlng actlvlties 18,344 115,684) 2,660 16,368 12,943) 13,425 15 Cash flow5 from financlng actlvltles Repayment of loans and borrowlngs Net Increase In cash and cash equlvalents Cash and cash equivalents at the start of the year Cash and cash equlvalents at the end of the year 19 113,9831 112,923) 164,619 81,294 323,571 242,277 488,190 323,571 17 All of the cash flows are derived from contlnulng operatlons durlng the above two perfods. Page 17
CoLab Exeter Ltd. Notes to the Flnancial Statements for the YeAr Ended 31 March 2025 I Charlty status The charlty Is Ilmlted by guarantee, Incorporated In England, and consequently does not have share capltal. Each of the trustees Is Ilable to contrlbute an amount not exceedlng El towèrds the assets of the charlty In the event of Ilquldatlon. The address of Its regSstered office Is., Wat Tyler House Klng Wllllam Street Exeter EX4 6PD 2 Accountlng pollcles Summary of slgnlflcant accountlng pollcles and key accountlng estlmates The prlnclpal accounting pollcle5 applied in the preparatlon of these financial statements are set out below. These policies have been conslstently applled to all the years presented, unless otherwlse stated. statement of compliance The financlal statements have been prepared In accordance wlth Accounting and Reportlng by Charltles.. statement tsf Recornmended Practlce appllcable to charitles preparing thelr accounts In accordance wlth the Flnancial Reportlng Standard 102 and the Companles Act 2006. Basls of preparatlon CoLab Exeter meets the deflnltion of a publlc benefit entlty under FRS102 Assets and Ilabllltles are Inltlally recognlsed at hlstorlcal cost or transactlon value unles5 Otherwise stated In the relevant accountlng pollcy notes. The financlal statement are prepared In 5terllng, which Is the functlonal currency of the charlty. Golng concern The flnanclal statements have been prepared on a golng concern bas15. The trustees have assessed whether the use of golng cOnM Is approprlate i.e. whether there are any materlal uncertalnties related to events or condltlons that may cast slgnlflcant doubt on the abllity of the charity to contlnue as a golng concern. The trustees make thls assessment in respect of a perlod of one year from the date of approval of the financlal statements. The trustees have Implemented a robust system of procedures and controls in order to deal wlth rlsk5. The trustees conslder that they have reasonable plans In pla to manage any uncertalntles that may arlse in the next 12 months and to strengthen the charity for the future by rebulldlng Its reserves. The trustees have therefore concluded that It Is reasonable for the charlty to contlnue to operate on a golng concern bas15. Page 18
CoLab Exeter Ltd. Notes to the Financial StAtements for the Year Ended 31 March 2025 Encome and endowments All Income Is recognlsed once the charlty has entitlement to the Income, It Is probable that the Income wlll be recelved and the amount or the Income recelvable can be rneasured rellably. Donatlons and legacies Donations and legacies are recognised on a recelvable basls when 'receipt' Is probable and the amount can be rellably measured. Grants receivable Grants are recognlsed when the charlty has an entltlement to the funds and any condltlons Ilnked to the grants have been met. Where perfonnance condltlons are attached to the grant and are yet to be met, the Income Is recognised as a liablllty and Included on the balance sheet as deferred Income to be leased. Deferred Income Deferred Income preSentS amounts received for future perlods and is released to Incomlng resources In the perlod for whlch, it has been recelved. Such Income Is only deferred when: The donor specifies that the grant or donatlon must only be used In future accountlng perlods,. or The donor has Imposed conditions which must be met before the Charity has uncondltlonal entitlement, Expenditure All expenditure Is recognlsed once there Is a legal or constnjctlve obllgatlon to that expendlture, It Is probable settlement Is requlred and the amount can be measured reliably. All costs are allocated to the appllcable expenditure headlng that aggregate slmllar c95ts to that category. Where costs cannot be d1CtlY attrlbuted to partlcular headlngs they have been allocated on a basis consistent wlth the use of resources, wSth central staff costs allocated on the basls of tlme spent, and depreclatlon charges allocated on the portlon of the asset's use.. other support costs are allocated based on the spread of staff costs, Expendlture 15 Inclusive of Irrecoverable VAT. Charitable actiViTties Charitable expenditu compr15e5 those costs Incurred by the charlty In the dellvery of Its actlvitles and servlces for its benefltlarles. It Includes both costs that can be allocated dlrectly to such actlvltles and those C05t5 of an Indlrect nature necessary to support them. Grant provlslons Provlslons for grants are made when the Intentlon to make a grant has been communlcated to the reclplent but there Is UnrtaIntY about elther the tlmlng of the grant or the amount of grant payable. Support costs Support cost5 Include central functlons and have been allocated to actlvity cost categoe$ on a basls conslstent wlth the use of resour$, for example. allocatlng property costs by floor areas, or per caplta, staff costs by the tlme spent and other costs by thelr usage. Governance costs These Include the costs attributable to the charfty's compllance wlth constitutlonal and statutory requlrements. includlng audlt, strateglc management and trustees's meetings and relmbursed expense5. Government grants Government grant5 are recognlsed based on the accrual model and are measured at the falr value of the asset received or re1Vable. Grants are cla5slfled as relatlng elther to revenue or to assets. Grants relatSng to revenue are recogni5ed In Income over the period in which the related costs are recognlsed. Grants relatlng to assets are recognlsed over the expected useful Ilfe of the asset. Where part of a grant relat1ng to an asset Is deferred, It Is recognlsed as deferred Income. Page 19
CoLab Exeter Ltd. Notes to the FinAncial Statements for the Year Ended 31 March 2025 Taxatlon The charlty Is consldered to pass the tests set out In Paragraph I Schedule 6 of the FInan Act 2010 and therefore it meets the deflnitlon of a charltable company for UK corporatlon tax purposes. Accordlnglyi the charity Is potentially exempt from taxation In respect of income or capital gain5 received within categorles by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectlon 256 of the Taxatlon of Chargeable Galns Act 1992, to the extent that such Income or galns are applled excluslvely to charitable purposes. Tangible fixed assets Indlvldual flxed assets costlng £500.00 tsr more are Inltlally recorded at C05t, less subsequent accumulated depreclation and subsequent accumulated Impalrment losses. Depreclatlon and amortlgatlo Depreciation Is provlded on tanglble flxed assets so as to wrlte off the cost or valuatlon, les5 any estlmated resldual value, over thelr expetted useful economlc Ilfe as follows.. Asset class Leasehold property and Improvements Flxlures, flttlngs and equlpment Depreclatlon method and rate straSght Ilne over the Ilfe of the lease stralght Ilne over 10 years Flxed asset Investments Flxed asset investments, other than programme related Investments. are Included at market value at the balance sheet date. Reallsed galns and losses on Investments are calculated a5 the dlfference between sales prOed5 and thelr arket value at the start of the year, or thelr subsequent cost, and are charged or credlted to the Statement of Flnanclal Actlvltles In the perlod of dlsposal. Unreallsed galns and losses represent the movement In market values durlng the year and are credlted or charged to the Statement of Flnanclal Actlvltles based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandlse sold or servlces performed In the ordlnary course of buslness. Trade debtors are recognlsed Inltlally at the transactlon prlce. They are subsequently measured at amortised cost uslng the effectlve Interest Method, less provlslon for impalrment. A provlslon for the Impalrment of trade debtors Is establlshed when there Is objectlve eviden that the Charity wlll not be able to collett all amounts due according to the orlglnal terms of the recelvables. Cash and cash Èquivalents Cash and cash equivalents comprlse cash on hand and call deposlts, and other short-term hlghly Ilquld Investments that are readlly convertible to a known amount of cash and are subject to an Insignlflcant sk of change In value. Trade Credltors Trade credltors are obllgatlons to pay for goods or servlce5 that have been acqulred In the ordlnary course of biJsine5s from suppliers. Accounts payable a classlfled as current Ilabllltles If the Charlty does not have an uncondltlonal rlght, at the end of the reporting perlod, tg defer settlement of the creditor for at least twelve months after the reportlng date. If there Is an uncondltlonal rlght to defer settlement for at least twelve months after the reportlng date, they are presented a5 non-current Ilabllltle5, Trade credltors are recognlsed Inltlally at the transactlon and subsequently measured at amortlsed c05t uslng the effectlve Interest method. Page 20
CoLab Exeter Ltd. Notes to the Financlal Statements lor the Year Ended 31 March 2025 Borrowings Interest-bearlng borrowlngs are Inltlally recorded at falr value, net of tran5actlon costs. Interest-bearing borrowlngs are subsequently carrled at amortlsed cost, wlth the dlfference between the proceeds, net of transactlon costs. and the amount due on redemptlon belng recognlsed as a charge to the Statement of Flnanclal Actlvltle5 over the perlod of the relevant borrowlng. Interest expense Is recognlsed on the ba515 of the effectlve Interest method and Is Included In Interest payable. and slmllar charge5. Borrowlngs are classlfled as current Ilabllltles unless the Charlty has an unconditlonal rlght to defer settlement of the Ilablllty for at least twelve months after the reportlng date. Fund structure Unrestricted income funds are general funds that are avallable for use at the trustees, dIsCtIOn In furtheran of the objectives of the charlty. Restrlcted Income fund5 are those donated for use In a partlcular area or for speclflc purposes. the use of whlch 15 restrlcted to that area or purpose. Pensions and other post retlrement obligatlons The charlty operate5 a deflned contrlbutlon scheme for the beneflt of Its employees. Contributlons payable are reco9nlsed In the profit and loss account when due. The charlty allocate5 the penslon cost between actlvltles based on the Indlvldual to whom the penslon cost relates. Page 21
CoLab Exeter Ltd. Notes to the Financial Statements for the Year Ended JI March 2025 3 Income from donatlons and legacies Unre5trlcted Funds General Deslgnated Funds Funds Restricted Funds Project Capltal Funds Fundg 2025 2024 Total Funds Total Funds Donatlons and legacie5: Donations Grants, Includlng capltal grants.. Grants 8,203 8,203 5.080 2,694 2,694 2,694 10,897 9,343 14,423 8,203 4 Income from charltable actlvltles Unrestrlcted Funds Genèral Designated Funds. Funds Restricted Funds Project Cap5tal Funds Funds 2025 Total Funds 2024 Total Funds Mental Health CoLab Women 199,940 367,061 623,693 205,345 259,098 179,072 199,940 367,061 623,693 205,345 259,098 179,072 243,983 286,826 309,266 156,977 172,210 15,721 Wellbeing Exeter Infrastructure C5vic & Communlty Learnlng Capltal 1,834,209 1,834,209 1,184,983 S Investment Income Unrestricted Funds General Deslgnated Funds Fund5 Restricted Funds Project Capltal Funds Funds 2025 Total 2024 Total Funds Funds Interest receSvèble on bank deposits Other Investment income 18,344 18,344 18,344 18,344 16,368 16,368 6 Other Income Unrestricted Funds General Deslgnated Funds Funds Restrirted Funds Project Funds 2025 2024 Total Capltal Funds Total Funds Funds other Incomlng resou5 Meetlng room Facilitles Office support servlces Offlce hostlng 43,915 55,530 109,020 208,465 43,915 55,530 109,020 208,465 40,628 48,990 108,241 197,859 Page 22
CoLab Exeter Ltd. Notes to the Financial Statements for the Year Ended 31 March 2025 7 Expenditure on charitable activities Unrestricted Funds General Designated Funds Funds Restricted Funds Project Capital Funds Funds 2025 2024 Total Funds Total Funds Governance Costs 8, 107 46,042 184,776 166,146 10,797 4,524 1321,487) 98,905 8,107 111,027 0 1,099,730 166,665 15,662 589,877 7,446 95,754 911,799 166,542 12,791 215,837 Offlce Expenses Employment Costs Establlshment Costs Admlnlstration Costs Project Costs Recharge Costs 53,472 11,513 914,954 519 30 4,835 584,890 321.487 54,484 1,837,679 463 1,991,068 1,410,169 8 Governance costs Unrestricted Funds General Designated Funds Funds Restricted Funds Project Capital Funds Funds 2025 Total Funds 2024 Total Funds Audlt I Independent examiner fees Audlt Professional Examlnatlon Other fees paid to examiners other governance cost5 6,000 6,000 5,400 1,870 237 1,870 237 1,662 384 8,107 8,107 7,446 9 Net intomin91outgoing resources Net outgolng resources for the year Include: Unrestricted Funds General Designated Funds Funds Restricted Funds Project Capital Funds Funds 202S 2024 Total Funds Total Funds Audlt fees Depreciation of flxed assets 6,000 6,000 48,106 54,106 5,400 45,757 51,157 48,106 48,106 6,000 10 Trustees remuneration and expenses No trustees, nor any persons connected wlth them. have recelved any remuneratlon from the charlty durlng the year. No trustee5 have recelved any relmbursed expen5e5 or any other beneflt5 from the charity durlng the year. Page 23
CoLab Exetcr Ltd. Notes to the Finaneial Statements for the Year Ended 31 March 2025 i i staff costs The aggregate payroll costs were as follows.. Total Total 2025 2024 Staff costs during the year were: Wages and salaries Social security costs Pension costs other staff costs 939,751 80,530 68,763 10,686 1.099,730 778.498 67,376 62,200 3,725 911,799 The monthly average number of persons {includlng senlor management tsam} employed by the charity durlng the year was as follow5: Total Total 2024 No 2025 No Charitable 3ctlvltie5 - Number Charitable activltles - FfE 41 34 30 27 The number of hlgher-pald staff wlth emoluments falling In the followlng ranges were: Total Total 2025 2024 £60,000 - É69,999 The total employee beneflts of the key management personnel of the charlty were £183,326 (2024.. £164,130). 12 Independent Examiners Remuneration Total Total 2024 2025 Independent exaffliner fees Professional Examlnatbon - lover provislonl I provislon other fees pald to examiner other governance costs Page 24
CoLab Exeter Ltd. Notes to the Fin4nciAI Statements for the YeAr Ended 31 March 2025 13 Audltors Remuneratlon Total 2025 Total 2024 Auditor fee5 Audltor fees other fees pald to audltor Other governance c05t5 6,000 1,870 5,400 1,662 7,870 7,062 14 Taxatlon The charlty Is a reglstered charlty and Is therefore exempt from taxatlon. 15 Tanglble fixed psset$ Furnlture and equlpment Lanil and bulldlngs Total Cost At l Aprll 2024 Additions Disposals 744,299 70,151 15,684 116,4661 69,369 814,450 15,684 116,4661 813,668 744,299 Depreciation At l Aprll 2024 Charge for the year Di5P05als 321,990 38,392 39,666 9,714 (16,4661 32,914 361,656 48,106 116,4661 393,296 360,382 Net book value At 31 March 2025 383,917 422,309 36,455 30,485 420,372 452,794 At 31 March 2024 Included wlthln the net book value of land and bulldlngs above Is £NII12024 £NII) In respect of freehold land and bulldlngs and £383,917 {2024: £422,309) in respect of leaseholds. 16 Debtors Total 2025 Total 2024 Trade debtors 114,331 39,203 10,576 102,456 22,667 20,720 Prepayments Accrued Income Other debtors 164,110 145,843 Page 25
CoLab Exeter Ltd. Notes to the Financial Statements for the Year Ended 31 March 2025 17 Cash and cash equlvalents Total Total 2024 2025 Cash at bank 488, 190 323,571 18 Credltors.. amounts falllng due wlthln one year Total Total 2024 2025 Trade Credltors other loans Other taxatlon and 50clal securlty other creditors Accruals Deferred Income 2,540 13,970 19,666 7,501 125.297 215,909 384,883 7,175 13,984 14,689 6,313 12,457 246,679 301,297 Total 2025 Total 2024 Deferred income at l AprS12024 Resources deferred In the period Amount5 released from previous periods Deferred Income at year end 246,679 215,909 (246,6791 215,909 246,655 246,679 1246,655) 246.679 Deferred Income represents grant Income recelved In advance of the charltable actlvlly for whlch the fundlng has been provlded. Such Income Is deferred on the basls that the perfomance condltlon5 attached to the grant are yet to be met because the activity has not yet taken pla. 19 Creditors: amounts falllng due after one yaar Total Total 2025 2024 other loans 145,847 159,816 Included In the credltors are the following amounts due after more than flve year5,. Total Total 2025 2024 After more than flve years by Instalments 86,317 101,765 other ltsan5 after flve years Repayment Is due In equal Instalments over 16 years from l June 2019. The Interest rate charged Is 3% pa. Page 26
CoLAb Exeter Ltd. Notes to the Financial Statelnents for the Year Ended 31 March 2025 20 Penslon and other schemes Deflned contrSbutlon penslon scheme The charlty operates a deflned contrlbutlon penslon scheme. The pension cost charge for the year repSentS contributlons payable by the charlty to the scheme and amounted to £68,763 (2024.. £62,200), Contrlbutlons totalllng E7.501 12024.. £6,313) were payable to the scheme at the end of the year and are Included In credltors. 21 Commltments other Ilnanclal commltments Lease of Wat Tyler House from Exeter Clty Councll whlch runs untll 2035, wlth a revlew expected, but not completed, In 2021. At 31 March 2025 £NII12024..£71,850) Is the total rent payable for the remalnlng lease term until the next expected revlew In 2025. The total amount of other flnanclal commltments not provlded In the finèncial statements was £10,360 {2024: £71,850). Page 27
CoLab Exeter Ltd. Notes to the Flnanclal Statements for the Year Ended 31 March 2025 22 Funds Balance at IApr 2024 Balance at 31 Mar Incomlng resources Re50urce5 expenses Transfer 2025 Unrestricted funds General Unrestricted general funds Designated Premise5 depreclatlon fund Natwest 170,653 229,503 198,905) 1194,7911 106,460 278,596 3,072 (48,106) (2,046) (4,332) 189,882 420,372 1,026 3,871 Atass 8,203 Atrium Total unrestrlcted funds 452,321 237,706 1153,389) (4,9091 531,729 Restricted Expendlture ProJects One Mental Health Team Flrst step Mental Health Alllance Open Mlnds Brave Space5 DCC rave Spaces IDVA DCC ECC Art Project Pathflnder Smallwood Trust Adult Sexual Exploltaton Toolklt Woman Centre 62,057 25,500 111,478 905 (62,057) 25,500 ILII,4781 7B5 1,690 229,687 40,688 2,000 25,443 35,101 10,700 907 {229,687) {40,688) {2,0001 {25,4431 {35,1011 {10,7001 11731 {18,332 12,3441 1,8581 1623,6931 1205,3451 12001 6,900 129,0171 154,365 1117,774) 44,573 (10,000) 18,000) 1171,072) 1,379 734 WUS (Smallwood Trust) Posltive Activlties IVarloLJS) Women DISctIOnary Fund Well Being Exeter DoSng What Matters Most Meaningful Activities crI Transltlon {DCC) Hlgh Flow Hlgh Intenslty Caseworkers sraR Welcome Team St James Place SCAA 18,332 2,344 1,858 623,693 205,345 7,989 7,789 6,900 29,017 54.365 117,774 39,664 10,000 8.000 171,072 1,379 4,909 UKSPF other Projects Total restrlcted funds 8,774 1,834,209 11,837,679) 4,909 10,213 Total funds 461,095 2,071,915 11,991,068) 541,942 Page 28
CoL#b Exeter Ltd. Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at IApr 2023 Balance at 31 Mar Incomlng resources Resources expenses Transfer 2024 Unrestricted funds General Unrestricted general funds Desigrtated Premises depreciatlon fund Natwest 133,465 223,650 1152,411) 34,051) 170,653 309,519 (45,757) {1,9281 119,217) 1219,313) 14,834 278,596 3,072 5,000 Atrlum 19,217 Total unrestrlcted funds 442,984 228,650 452,321 Restrlcted Expendlture Projects Discharge Inltiative Fund Flrst step Mental Health Alllance Brave Spaces DCF Brave Spaces Moblllsatlon Brave Spaces Smallwood Brave Spaces DCC Brave Spaces IDVA DCC Pathfinder Smallwood Trust Adult Sexual Exploltaton Toolklt Virtlfft Support Well Belng Exeter Dolng What Matters Most Meanlngful Actlvltles High Flow Maglc Carpet SfaR Welcome Team 90,919 25,500 127,564 9,935 3,000 7,000 184,983 11,224 24,944 29,522 8,998 8,000 308,065 156,977 1,307 17,570 4,800 119,902 28,332 15,000 1,441 (90,919) (25,500) 1127,564) (9,9351 (3,0001 7,000 1184,983) (11,224) (24,944) (29,5221 {8,998) {8,000) 130B,065 1156,977) 7,180 (17,570) 4,800 1119,902) (28,332) (15,000) 1,4411 14,647 8,774 Exeter College other Projects Total restricted funds 14,647 1,184,983 {1,190,8561 8,774 Total funds 457,631 1,413,633 {1.410,169) 461,095 Page 29
CoLab Exeter Ltd. Notes to the Financial Statements for the Year Ended 31 March 2025 The speclflc purposes for whlch the funds are to be applled are as follows.. Restrlcted funds One Mental Health Team IDPTI - Fundlng for people experlenclng mental ill-health Dlscharge Initlatlve Fund IDPTI - Fundlng for people experlenclng mental 111-health Flrst step {DCC) A recovery focused project that dellvers communlty engagement, purposeful actlvlty, and personal development opportunltles to people experlenclng and recovering from mental health and wellbelng Issues Mental Health AllIan - An Innovatlve partnershlp of VCSE oryanlsatlons supportlng people across Devon wlth mental health issues Open Mlnds - A peer support group for people who eXperIen what Is often labelled 'psychosls Brave Spaces DCF Addltlonal outreach capaclly funding to support women In a range of communlty settlngs including evenings and weekends Brave Spaces Moblllsatlon (DCCI - Rebranding, staff tralnlngi launch of the new project Brave Spaces Smallwood Addltlonal move-on fundlng to support women movlng Into longer temi accommodatlon Brave Spaces IDCC} A two year test and learn projert Identlfying new ways of supportlng homeless women facing mLJltiple dlsadvantages to access domestlc and sexual vlolence and abLJse support and recovery Brave Spaces IDVA (DCCI A speclalist Independent Domestlc Vlolence Advlsor role funded by Devon County Councll that slts wlthln the Brave Spaces team Art Project {ECCI Short term fundlng to to run Peer Support Spaces and Art Focused Activitle5 throughout the year, for women to come together and connect, and based on feedback from women we support Pathfinder IPCC) A 2 year project Indentlfylng new ways of provldlng trauma support for women experlenclng sexual vlolen Adult Sexual Exploltatlon Toolklt Dlssemlnatlon (Varlou5) - Fundlng to create a learnlng and workforce development package and actlon research project to disseminate and implement the Out of the Shadows toolklt, Improvlng support to women at risk of sexual exploltatlon through prostltutlon Women Centre - Fundraislng campalgn to establlsh a Women's Centre for Exeter, as a place of communlty and connection with dedicated 5UPPOrt in the clty Vlctlm Support - Fundlng to produ a buslne5s ca5e/needs assessment to ald the development and fundlng of a Women's Centre for Exeter Posltlve Actlvltles {Variousl - Fundlng for postlve actlvltles for women Smallwood Trust - To enable dlsadvantaged and vijlnerable women In the clty to have access to small grants, learning, and support to achleve and 5UStaln flnanclal Independence and reduce thelr vulnerabS1ity to flnanclal abuse WUS (Smallwood Trust) Women Urgent Support - Project provldlng flnanclal asslstance to women wlth experlence of complex lives. Thls strlves to relleve poverty and upllft women to ochleve 5tablllty and security In personal finan$, houslngi employment, and health and wellbelng. Women Dlscretionary Fund Thls comblned funds from a number of Sou$ covering support for vulnerable women acssIng CoLab support Wellbeing Exeter (Various} - Wellbelng Exeter works alongslde people to disry>ver and develop opportunltles and Ideas on how to Ilve and feel belter and get connerted to what matters to them Dolng What Matters Most (NLCFI - Inve5tlng In the Infrastructure that enables the collaboratlve communlty to achieve and demonstrate collectlve Impact Meanlngful Activltles - Thls Is the funding from the Alternatlve Glvlng Fund for Meanlngful Activlties CTI Transition - One off fundlng by Exeter City Coundl Hlgh Flow INLCF) - A project for the disadvantaged to Improve thelr chol$ and empowerment High Intensity Caseworkers A people-flrst InStiative focLJsed on supportlng Indlvlduals who frequently attend attend the emergellcy department in Exeter, almlng to break the cycle of repeated presentatlons and help them reach meaningful resolutions Maglc Carpet DelIVeng arts based adult leamlng opportunlties for people experlenclng multlple dlsadvantaGe STaR {Publlc Health) A proJert to provide 5UPPOrt and recovery for rough sleepers with substance misuse challenges Welcome Tearn (HUC and ECCI An alllance of organlsations supporting a 12 month pllot project to fully understand the benefits and imparts of the Welcome Team and Its value and role In the clvlc realm. Vlew to longer terffl clty51de Investment Page 30
CoLab Exeter Ltd. Notes to the Financial Statements for the Year Ended 31 March 2025 St James Place - A grant to support the Welcome Team SCAA - System Change Actlon Alllance Partnershlp made up of Voluntary sector. publlc sector, health and cornmi5sloners who have all come together to challenge the current system for people wlth complex / multlple needs. Fundlng for CoLab supports reflectlve pract1 for staff UKSPF - A project In support of the role of the Urban Learnlng Academy In dellvery of adult and a communlty learning, and developing a business model For future sutainabllity of the ULA Exeter College - A dlscreet fund In support of the role of the Urban Learnlng Academy In dellverln9 of adult and communlty learnlngi and developlng a buslness model for sustèlnablllty of the ULA. DÈslgnated funds Premlses Depreclatlon Fund - Deslgnated fundlng to cover the leasehold Improvement. flxture5 and fittlngs expendlture. Thls fund Is offset agalnst the depreclatlon charged on these capltal Items over thelr expected useful economlc Ilfe. Atass Deslgnated fundlng for a Data Protectlon SuNey and for Garden Work Atrlum - Deslgnated fundlng for addltlonal servlces for the Welcome Team Natwest - Designated fundlng for Learnlng and the Atrlum Welcome Team Transfers In the year, transfer between Unrestrlcted general funds and the Premlses depreciatlon fund represents the amount necessary to match the full net book value of flxed a5set5 wlth that of the Premlses depreclatlon fund. Prevlouslyi It represented capltal expendlture InCUrd durlng the year and funded from Unrestricted general reserves. along wlth the repayment5 funded from Unrestrlcted general reserves, relatlng to the loan used for Items capltallsed wlthln flxed assets. The transfers between Unrestrlcted general funds and the Atrium fund represents the c05t not belng covered by those funds. Page 31
CoLab Exeter Ltd. Notes to the Flnanclal StAtements for the Year Ended 31 March 2025 23 Analysis of net assets between funds Unrestrl¢ted RÈstrlcted Projects Capital Funds Funds Total funds at 31 March 2025 Funds General Funds Designated Funds Tanglble flxed assets Current assets 420,372 4,897 420,372 652,300 (384,8831 (145,8471 541,942 319,893 167,5861 1145,8471 106,460 327,510 1317,2971 CUrnt liablllties Credltors over l year Total net as5et5 425,269 10,213 Unrestricted funds General Fund$ Restricted funds Projects Capital Funds Funds Total funds at 31 March 2024 Funds De5ignat4d Funds Tangible nxed assets Current assets Current Ilabllltles Creditors over l year Total net assets 174,198 242,881 {86,6101 1159,8161 170,653 278,596 3,072 452,794 469,414 1301,297) {159,816} 461,095 223,461 1214,6871 281,668 8,774 24 Analysls of net fund5 At l Aprll 2024 Flnancing cash flows At 31 March 2025 Cash at bank and in hand Debt due wlthln one year Debt due after more than one year Net funds I (debt) 323,571 {13,984} {159,816} 149,771 164,619 14 13,969 178,602 488,190 113,970) 1145,8471 328,373 At l April 2023 Financing cash flows At 31 March 2024 Cash at bank and In hand Debt due within one year Debt due after more than one year Net {debtl I funds 242,277 113,284) 1173,439) 55,554 81,294 17001 13,623 94,217 323,571 (13,9841 (159,8161 149,771 25 Related party transactlons There were no related party transactions In the year other than,. Flona Carden Is a d1ctOr and shareholder In a company called The Green Hat Company Ltd. Durlng the year, CoLab pald thls Company £120 In respect of SeIceS provlded (2024: £180). Durlng the year, CoLab paid £600 in respect of 5ervice5 provlded by Fiona Carden. Page 32