Company registration number.. 04774583
Charity registration number" 1104083
Taunton East Development Trust
(A company limited by guarantee)
Unaudited Annual Report and Financial Statements
for the Year Ended 31 March 2024
ocm
acmole

Taunton East Development Trust
Contents (continued)
Reference and Administrative Details
Trustees, Report
2to6
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10t025

Taunton East Development Trust
Reference and Administrative Details
Trustees
Mr Paul Hughes - resigned 25 October 2024, Chair of Trustees
Mr David Lee Kassapian,
appointed 25 October 2024, Chair of
Trustees
Mrs Mary Greenslade
Mr Stephen Elis Wray
Miss Yang Li - appointed 22 March 2024
Mrs Ann Davis - appointed 28 August 2024
Mr William Tregillus - resigned 28 August 2024
Secretary
Miss Paula Jayne Bartraham - resigned 20 November 2024
Miss Yang Li - appointed 20 November 2024
Charity Registration Number
1104083
Company Registration Number 04774583
The charity is incorporated in England & Wales.
Registered Office
The Link Centre
12 Moorland Close
Taunton
Somerset
TA12DD
Independent Examiner
A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA12PX
Page 1

Taunton East Development Trust
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
with the financial statements and auditors. report of the charitable company for the year ended 31
March 2024.
Achievements and performance
The charity has continued to deliver activities, support and advi￿ to the community as in previous
years. The community still struggles economically and socially, which the charity makes every effort to
mitigate. With over 11,000 points of contact across the year into the Charity's Link Centre, the charity
has been as busy as ever including presentation of food vouchers,. shopping and prescription pick ups
for the physically frail., events for local school children, and transport to social events., regular social
gatherings hosted for members of the community, financial assistance; and major events with over
500 + attendees at each event.
The two main areas of focus for this year, as detailed in the last report, were the refurbishment,
opening, and consolidation of the Link Community Store, and the development of a more commercial
relationship with the Local Council, developing our volunteer Link Power capabilities.
The Community store opening was delayed due to major refurbishment challenges, including
significant unforeseen cost growth. But it is now open, and operating with an employed manager, and
a growing cohort of volunteers. The challenge is now to develop the commercial wherewithal to
ensure a sustainable business model, and deliver a regular surplus back into the charity, which is still
to be achieved.
Whilst there has been significant income-generating work forthcoming from Somerset Council for our
Link Power volunteers, no formal contract has been forthcoming. So the sustained nature of this work
through time is not assured, nor therefore the income stream. We continue to work with the Council to
seize opportunities
The Board is also in the process of recruiting new trustees. with greater diversity to ensure a fresh
and appropriate governan￿ structure
Financial review
As at 31 March 2024, there is a total deficit of £35,721 {2023'. surplus £38,164).
There was deficit of £83,147 (2023-. deficit £4,004) on unrestricted reserves. Unrestricted income
decreased in the year to £82,843 compared to £166,490 in 2023. Unrestricted expenditure increased
to £183,470 compared to £170,494 in 2023.
At 31 March 2024 the charity had unrestricted reserves totalling £31,168 (2023. £114,315). Included
in this sum are fixed assets of £52,533 {2023.. £51,314) and long term loans of £22,473 leaving
£1,108 (2023.. £63,001) regarded as free reserves.
Page 2

Taunton East Development Trust
Trustees. Report (continued)
Policy on reserves
The trustees have in line with Charity Commission guidan￿ considered the level of reserves required.
The trustees, policy is to have reserves covering a minimum of six months operating costs, excluding
restricted funds.
The free resetves shown at 31 March 2024 do not meet this target. The Trustees have prepared
forecasts and budgets for the financial years ending 31 March 2025 and 31 March 2026. In the short
term, the cost growth in the refurbishment of the shop has eroded reserves. Regeneration of
appropriate reserves is in part reliant on an increased and sustainable level of work for Link Power
with the Council, generating income, as well as profit from the Community store being generated. The
Board is engaging with donors and benevolent organisations to offset risk in this area.
These indicate that the charity will have sufficient fijnds in order to be able to continue in operation for
this period, and therefore for the foreseeable future.
The Trustees therefore consider it appropriate for the accounts to be prepared on a going concern
basis.
Plans for future periods
Aims and key objectives for future periods
The Charity has taken on new challenges of re￿nt times, most notably the opening and running of
the Community store, which has nevertheless been a major milestone to celebrate. This has stretched
the capacity of employees and trustees. It is therefore important that the charity now consolidates
what it has achieved to date. Key in this will be solidifying the foundations of the Community Store.
There is also a planned turnover of both the Chair and Treasurer which will need to be carefully
managed. Understanding the impact of the charity in the community, effectively measuring that
impact, whilst listening to the requirements of the community will be key for the next year and beyond.
Making sure our employees and volunteers are offered opportunities for development to ensure the
smooth running of the charity. whilst also delivering effect. and building their confiden￿, will be
important. And the Board not only needs to consolidate its govemance and oversight of the charity as
a whole, but also seek to solidify the charity's financial reserves by engaging with potential funders.
Objectives and activities
Objects and aims
The principal objectives of the Charity continue to be those providing public benefit through the
provision of facilities, inft)rmation, advi￿ and public recreation or other leisure time occupation, to
improve conditions for those living and working in the Taunton East area.
We have referred to the guidan￿ contained in the Charity Commission's general guidan￿ on public
benefit when reviewing our aims and objectives and in planning our fvture activits'es,
Objectives, strategies and activities
The objectives and strategy of the Trust are based on community need, with ongoing review and
monitoring prO￿dureS to be put in pla￿. The trust provides a range of specialist services to support
residents daily needs and lifestyles.
Page 3

Taunton East Development Trust
Trustees. Report (continued)
Public benefit
The trustees confim that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
Use of volunteers
The charity is very involved in the community and is grateful for voluntary help. Volunteers assist with
the manning of re￿ptIOn and the administration of the charity, enabling lower staff costs that would
othemise be the case. The charity is supported by a team of approximately 35 volunteers.
Structure, governance and management
Nature of goveming document
Taunton East Development Trust is a company limited by guarantee and was incorporated on 22 May
2003 with company number 04774583. The charity is govemed by its Memorandum and Articles of
Association.
Recruitment and appointment of trustees
The current trustees are aware of the requirements of the articles with regard to the appointment of
trustees, and have committed to the charity for the duration of the five year strategy.
Induction and training of trustees
New trustees undergo an orientation course to brief them on their legal obligations under charity and
company law, the content of the Memorandum and Articles of Association, the committee and
decision making process, the business plan and recent financial performance of the charity.
Trustees are encouraged to attend appropriate external training events where these will facilitate the
undertaking of the role.
Organisational structure
The charity is organised so that the Committee typically meets on a six week cycle to manage its
affairs. There are ambassadors, a chairman. a treasurer and administrative personnel who administer
the day to day activities of the charity.
Page 4

Taunton East Development Trust
Trustees. Report (continued)
Principal risks and risk management
A Strategic Risk register is now maintained, which is reassessed at every Board meeting. The 4 major
risks to the operation of the charity identified are- Financial stability in an economically challenging
environment,. a reduced volunteer base which undermines the continued viability of the charity.,
business resilience and continuity in what is a small charity,. the capacity and capabilities of the charity
are stretched beyond sustainable levels.
In mitigation- the Board monitor cashflow and reserves, but the environment remains difficult- the
volunteer cohort is currently healthy and growing, and a renewed awareness campaign should further
assist,. a deputy manager is being sought to support and underpin the CEO, as well as developing the
skills of the volunteer base to support the operation of the charity,. current achievements and projects
will be consolidated, rather than development of significant new projects, alongside mentorship and
training for the charity's employees.
Going concern
The trustees have considered carefully the charity's position in respect of rvs going concern status.
Given the changes implemented by the trustees over the past twelve months, and the positive
reaction from stakeholders and donors to the management changes and future strategy being
adopted, the trustees are satisfied of the charity's ability to meet ifs obligations for the next twelve
months.
The Trustees have prepared forecasts and budgets for the financial years ending 31 March 2025 and
31 March 2026. These indicate that the charity, has sufficient funds in order to be able to continue in
operation for this period, and therefore for the foreseeable future.
The Trustees therefore consider it appropriate for the accounts to be prepared on a going concern
basis.
Page 5

Taunton East Development Trust
Trustees. Report (continued)
Statement of trustees. responsibilities
The trustees (who are also the directors of Taunton East Development Trust for the purposes of
company law) are responsible for preparing the Trustee's Report and the trustees, report and the
financial statements in accordan￿ with 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).
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 charitable company and of the income and
expenditure, of the charitable company for that period. In preparing these financial statements, the
trustees are required to..
select suitable accounting policies and apply them consistently-
obseNe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial ststements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charitable company and enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also responsible
for safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the Maintenan￿ and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from legislation in
other jurisdictions.
The annual report was approved by the trustees of the charity on
behalf by=
and signed on its
Mr David Lee Kassapian
Trustee
Page 6

Taunton East Development Trust
Independent Examinerfs Report to the trustees of Taunton East Development Trust
('the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024, which are set out on pages 8 to 25.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 {'the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'}.
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 14515)(bl of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe=
1. accounting records were not kept in respect of Taunton East Development Trust as required by
section 386 of the 2006 Act; or
2. the accounts do not accord with those accounting records,. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view, which is not a matter
considered as part of an independent examination., or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)].
I have no cOn￿rnS and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Sarah Twist FCA DChA
A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA12PX
Date:.............................
Page 7

Taunton East Development Trust
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account)
Unrestricted
funds
Restricted
funds
Total
2024
Note
Income
Donations and legacies
Charitable activities
Other trading activities
14,020
62,423
6,400
3,000
109,761
17,020
172,184
6,400
Total income
82,843
112,761
195,604
Expenditure
Raising funds
Charitable activities
{1,677)
(181,793
{1,677)
229,648
47,855
Total expenditure
(183,470
47,855
231,325
Net {expenditure)lincome
Transfers belween fiJnds
(100,627)
17,480
64,906
17,480
(35,721)
Net movement in fiJnds
(83.147)
47,426
(35,721)
Reconciliation of funds
Total funds brought forward
114,315
44,489
158,804
Total funds carried forward
21
31,168
91,915
123,083
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income
Donations and legacies
Charitable activities
other trading activities
26,196
131,367
8,927
38,320
13,000
64,516
144,367
8,927
Total income
166,490
51,320
217,810
Expenditure
Raising funds
Charitable activities
(1,578)
(168,916)
(1,578)
(178,068)
(9,152)
Total expenditure
(170,494)
(9,152)
(179,646)
Net incomel(expenditure)
(4,004)
42,168
38,164
Net movement in funds
(4,004)
42,168
38,164
Reconciliation of funds
Total funds brought fotward
118,319
2,321
120,640
Total funds carried forward
21
114,315
44,489
158,804
The notes on pages 10 to 25 fomi an integral part of these financial statements.
Page 8

Taunton East Development Trust
{Registration number: 04774583)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
13
14
49,817
17,600
67,863
67,417
67,863
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
17
302
48,160
42,761
360
16,416
114,293
91,223
131,069
Creditors: Amounts falling due within one year
18
(13,084)
{9,776)
Net current assets
78,139
121,293
Total assets less current liabilities
145,556
189,156
Creditors: Amounts falling due after more than one year 19
(22,473)
(30,352)
Net assets
123,083
158,804
Unrestricted funds
31,168
114,315
Restricted funds
91,915
44,489
Total funds
21
123,083
158,804
For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities=
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476,. and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of accounts.
The financial statements on pages 8 to 25 were approved by the trustees, and authorised for issue on
and signed on their behalf by:
Mr David Lee Kassapian
Trustee
The notes on pages 10 to 25 fomi an integral part of these financial statements.
Page 9

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee, incorporated in England & Wales, and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards
the assets of the charity in the event of liquidation.
The address of its registered office is-
The Link Centre
12 Moorland Close
Taunton
Somerset
TA12DD
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented, unless othemise
stated.
Basis of preparation and statement of compliance
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless stated otherwise within these notes. The financial
statements have been prepared in accordan￿ with Accounting and Reporting by Charities.. Statement
of Recommended Practi￿ (applicable to charities preparing their accounts in accordan￿ with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}) (issued in
October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) and the Companies Act 2006.
Taunton East Development Trust meets the definition of a public benefit entity under FRS 102.
Going concern
The financial statements have been prepared on a going concem basis, which assumes the charity
will continue in operation for a period of at least twelve months from the date of authorisation of the
financial statements and have sufficient funds to pay debts as and when they fall due.
The Trustees have prepared forecasts and budgets for the financial years ending 31 March 2025 and
31 March 2026. These indicate that the charity, has sufficient funds in order to be able to continue in
operation for this period, and therefore for the foreseeable future.
The Trustees therefore consider it appropriate for the accounts to be prepared on a going concern
basis.
Income
All income is recognised On￿ the charity has entitlement to the income, it is probable that the income
will be received and the amount of the income re￿1vable can be measured reliably.
Page 10

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 Accounting policies Icontinued)
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charity before the charity is entitled to the fvnds, the income is deferred and not
recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly
within the control of the charity and it is probable that these conditions will be fulfilled in the reporting
period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to
the grants have been met. Where perfomiance conditions are attached to the grant and are yet to be
met, the income is recognised as a liability and included on the balance sheet as deferred income to
be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those
incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature ne￿SSary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Support costs
Support costs include ￿ntral functions and have been allocated to activity cost categories on a basis
consistent with the use of reSoUr￿s, for example, allocating propety costs by floor areas, or per
capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory
requirements, including independent examination, strategic management and trustees meetings and
reimbursed expenses.
Irrecoverable VAT
Irrecoverable VAT is charged against the category expenditure for which it was incurred.
Page11

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 Accounting policies Icontinued)
Taxation
The charity is a registered charity and is, therefore, exempt from liability to taxation on it's income and
capital gains, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Tangible fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:
Asset class
Computer equipment
Motor vehicles
Plant & equipment
Depreciation method and rate
20 % Reducing balan
20 % Straight Line
10 % Reducing balan
Stock
Stock is valued at the lower of cost and estimated selling pri￿ less costs to complete and sell, after
due regard for obsolete and slow moving stocks.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Fund structure
Unrestricted income funds are general fijnds that are available for use at the trustees discretion in
furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Financial instruments
The charity only enters into basic financial instruments that result in the recognition of financial assets
and liabilities such as trade and other debtors and creditors together with loans to related parties.
Debt instruments, such as trade debtors and creditors, are initialty measured at transaction price and
subsequently measured at amortised cost.
Financial assets are assessed at the end of each reporting period for objective evidence of
impairment. If objective evidence of impaimient is found. an impairment loss is recognised in the
income statement.
Page 12

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
2 Accounting policies Icontinued)
Basis of consolidation
The financial statements present infomiation about the company as an individual undertaking and not
about its group. The company and its subsidiary undertaking Link Community Store Limited, comprise
a small-sized group. The company has therefore taken advantage of the exemptions provided by the
Charities SORP (FRS102) and the Companies Act for small groups and consolidated accounts are
not prepared.
Critical accounting judgements and estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make
judgements, estimates and assumptions that affect the application of policies and reported amounts of
assets and liabilities, income, and expenses.
Estimates and judgements are continually evaluated and are based on historical experien￿ and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
The charity makes estimates and assumptions con￿MIng the future. The resulting accounting
estimates will, by definition. seldom equal the related actual results. The Trustees consider that there
are no critical accounting estimates and judgements that have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial year.
Page 13

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
3 Income from donations and legacies
Unrestricted
funds
Restricted
funds
Total
2024
Donations
Grants
14,020
14,020
3,000
3,000
14,020
3,000
17,020
Unrestricted
funds
Restricted
funds
Total
2023
Donations
Grants
3,696
22,500
804
37,516
4,500
60,016
26,196
38,320
64,516
4 Income from charitable activities
Unrestricted
funds
Restricted
funds
Total
2024
Link power income
Grants - general
Grants - restricted
Grants - restricted
Grants - restricted
Misc income
40.936
14,500
40,936
14,500
69,761
35,000
5,000
6,987
69,761
35,000
5,000
6,987
62,423
109,761
172,184
Unrestricted
funds
Restricted
funds
Total
2023
Link power income
Grants - general
Grants - Skateboarding
Grants - Activity days
Misc income
49,917
81,300
49,917
81,300
7,500
5,500
150
7,500
5,500
150
131,367
13,000
144,367
Page 14

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
5 Income from other trading activities
Unrestricted
funds
Restricted
funds
Total
2024
Raffle receipts
Trading income
Link kitchen income
Coffee mornings income
Misc income
Events income
Activity day re￿iptS
115
115
375
740
4.577
375
740
4,577
593
593
6,400
6,400
Unrestricted
funds
Restricted
funds
Total
2023
Raffle receipts
Trading income
Link kitchen income
Coffee mornings income
Misc income
Events income
Activity day re￿iptS
102
102
696
800
6,271
696
800
6,271
1.058
1,058
8,927
8,927
Page 15

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
6 Expenditure on raising funds
al Costs of trading activities
Unrestricted
funds
Restricted
funds
Total
2024
Link kitchen costs
1.677
1,677
1,677
1,677
Unrestricted
funds
Restricted
funds
Total
2023
Link kitchen costs
1,578
1,578
1.578
1,578
7 Expenditure on charitable activities
Unrestricted
funds
Restricted
funds
Total
2024
Activity days costs
Shop refurbishment
Skateboarding
Grant funding of activities
Staff costs
Allocated support costs
Governan￿ costs
8.648
36,924
1.563
2,900
15,561
2,190
3,000
11,548
52,485
3,753
3,000
45,180
108,803
4,879
229,648
45,180
84,599
4.879
24,204
181,793
47,855
Unrestricted
funds
Restricted
funds
Total
2023
Activity days costs
Shop refurbishment
Skateboarding
Staff costs
Allocated support costs
Governan￿ costs
9,173
19.248
1,100
10,273
19,248
2,560
40,956
99,941
5,090
2,560
40,956
94,449
5,090
5,492
168,916
9,152
178,068
Page 16

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
8 Analysis of governance and support costs
2024
2023
Opening stock
Closing stock
(Profit}Iloss on fixed assets
Staff training & development
Volunteers - restricted
Rates
Water
Electricity unrestricted
Electricity restricted
Repairs & Maintenan￿ - unrestricted
Repairs & maintenance - restricted
Telephone
Office insurance
Tipper lease
IT & computer SOf￿are
Stationery & office consumables
Materials for link power jobs - unrestricted
Materials for link power jobs - restricted
Cleaning
Motor expenses - unrestricted
Motor expenses - restricted
Safety clothing & equipment- unrestricted
Safety clothing & equipment - restricted
Subcontractor costs
COVID expenditure
Flat refit costs - unrestricted
Flat refit costs - restricted
TNL projects - unrestricted
TNL projects - restricted
Advertising & marketing
Sundry - unrestricted
Sundry - restricted
Consultancy fees
Legal fees
HMRC interest
Depreciation unrestricted
Depreciation restricted
Loan interest
360
(302)
(2,737)
153
2,332
250
(360)
1,913
2,504
445
620
748
750
6,591
1,112
1,729
1,829
853
2,224
649
1,794
3,959
10,774
382
173
804
355
165
94
87
10,431
600
1,745
49
10,043
992
65
5,790
2,560
21,402
20
400
13,063
796
2,460
7,060
4,880
1,242
45
12,820
1,664
2,034
3,721
26,564
6,518
1,185
994
803
9,050
3,420
14,984
388
704
108,803
99,941
Page 17

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
9 Net incomel{expenditure)
Net {expenditure)lincome for the year includes=
2024
2023
Independent examiner's fee
Independent examiner's fees- Prede￿SsOr fim
Depreciation of fixed assets
3,225
3,144
1,946
15,372
14,484
10 Trustees remuneration and expenses
During the year, one trustee {2023.' None) re￿iVed reimbursement for expenses incurred of £1,600
(2023. £Nill. One trustee (2023= None) received £300 (2023= £Nil) in vouchers in their capacity as a
volunteer.
11 staff costs
The aggregate payroll costs were as follows".
2024
2023
Staff costs during the year were:
Wages and salaries
Pension costs
44,410
770
40,274
682
45,180
40,956
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year expressed as fvll time equivalents was as follows..
2024
No
2023
No
Management and office staff
Two {2023 - One) of the above employees participated in the Defined Contribution Pension Schemes.
The key management personnel of the charity comprise of the trustees of the charity. The total
employee benefits of the key management personnel of the charity were £Nil (2023.. £Nil).
No employee re￿iVed emoluments of more than £60,000 during the year (2023: None).
12 Taxation
The charity is a registered charity and is therefore exempt from taxation on its income and gains to the
extent that such income or gains are applied exclusively to charitable purposes.
Page 18

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
13 Tangible fixed assets
Fumiture and
equipment
Motor
vehicles
Plant &
equipment
Total
Cost
At 1 April 2023
Additions
Disposals
8.877
68,687
27,311
9,701
104,875
9,701
(24,593)
(24,593)
At 31 March 2024
8,877
44,094
37,012
89,983
Depreciation
At 1 April 2023
Charge for the year
Eliminated on disposals
6,181
545
25,436
10,111
(11,330
5,395
3,828
37,012
14,484
(11,330)
At 31 March 2024
6,726
24,217
9,223
40,166
Net book value
At 31 March 2024
2,151
19,877
27,789
49,817
At 31 March 2023
2,696
43,251
21,916
67,863
Page 19

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
14 Fixed asset investments
Shares in group undertakings and participating interests
Subsidiary
undertakings
Total
Cost
Additions
17,600
17,600
At 31 March 2024
17,600
17,600
Net book value
At 31 March 2024
17,600
17,600
Details of undertakings
Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of
share capital are as follows-
Country of
incorporation
Proportion of voting
rights and shares held
2024
2023
Principal
activity
Undertaking
Holding
Subsidiary undertakings
Link Community Store
Ltd
England & Wales Ordinary
Local shop
Subsidiaries
The loss for the financial period of Link Community Store Ltd was £23,005 {2023'. £Nil) and the
aggregate amount of negative capital and reserves at the end of the period was £5,405 (2023.. £Nil).
15 Stock
2024
2023
Stocks
302
360
Page 20

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
16 Debtors
2024
2023
Trade debtors
Due from group undertakings
Prepayments
Accrued income
1,555
40,876
5,011
718
8,260
5,419
2,737
48,160
16,416
17 Cash and cash equivalents
2024
2023
Cash at bank
42,761
114,293
18 Creditors: amounts falling due within one year
2024
2023
Other loans
Other taxation and social security
other creditors
Accruals
7,879
546
459
4,200
5,352
640
640
3,144
13,084
9,776
19 Creditors: amounts falling due after one year
2024
2023
Other loans
22,473
30,352
20 Obligations under leases and hire purchase contracts
Operating lease commitments
Total future minimum lease payments under nOn-Can￿lIable operating leases are as follows..
2024
2023
Within one year
Be￿een one and five years
5,736
28,173
33,909
Page 21

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
21 Funds
Balance at
1 April
2023
Balance at
31 March
2024
Income
Expenditure Transfers
Unrestricted funds
114,315
82,843
(183,470)
17,480
31,168
Restricted funds
Link power fund
Activity days grants
Rotary club - grant for
new kitchen costs
Skateboarding
SCF - Shop refurbishment
Fuel poverty fund
The National Lottery
Community Fund
Commissioner's Crime
Prevention Fund
Albert Goodman - grant
for Link Community Store
Ltd
TNL street
crickeucommunity fund
Welfare fund
Poli￿ commissioner
1,063
5.500
(177)
(2.900)
886
2,600
1,018
4,940
17,500
(104)
(2,190)
914
2,750
(17,500)
20
(20)
9,616
(962)
8,654
4.852
(486>
4,366
3.000
(3,000)
69,761
35,000
5,000
(14,543)
(18,473)
(5,000)
55,218
16,527
Totsl restricted funds
44,489
112,761
(47,855)
(17,480)
91,915
Total funds
158,804
195,604
(231,325)
123,083
Page 22

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
21 Funds (continued)
Balance at
1 April
2022
Balance at
31 March
2023
Income
Expenditure Transfers
Unrestricted funds
118,319
166,490
(170,494)
114,315
Restricted funds
Link power fund
Activity days grants
Cost of living
Rotary club - grant for
new kitchen costs
Skateboarding
SCF - Shop refurbishment
Fuel poverty fund
The National Lottery
Community Fund
SCF - Christmas event
Commissioner's Crime
Prevention Fund
1,186
(123)
1,063
5,500
5.500
5,000
(5,000)
1,135
(117)
(2,560)
1,018
4,940
17,500
7,500
17,500
804
(804)
9.616
400
9,616
(400)
5,000
(148)
4,852
Total restricted funds
2,321
51,320
{9,152)
44,489
Total funds
120.640
217.810
(179.646)
158,804
Page 23

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
21 Funds (continued)
Link Power fund
The project carries out maintenan￿, gardening, litter-picking and general
improvements around the local area. This project has been funded by way of grant income and from
charges levied on the work carried out. The restricted fund represents capital assets funded by way of
grant. Link Power fee income is treated as unrestricted income.
Activities Days grant - These grants were given to help fijnd the activities days provided by the centre.
The balan￿ held on the fijnd is specifically tovRrds the 2023 school holiday activities.
Cost of living - This grant was given towards sustaining the organisations low costs to the community
and subsidising work in the community.
Rotary Club grants for new kitchen costs This grant was given to help fund the move to the new
premises and to fit out and equip the kitchen in particular. The restricted fund represents capital
assets funded by way of grant.
Skateboarding grants have been received from and SSAP to fund the skate club.
The SCF grant for shop refurbishment was received towards the for shop refurbishment and it's
working capital.
Fuel povety fund was received to subsidise family household fuel costs.
The National Lottery Community grant fund received for shop fittings and counter. The balance on the
fund is represented by the net book value of the fixed assets held.
SCF grant for the Christmas paty donation was re￿iVed to fund the Christmas event.
The Commissionerfs Crime Prevention Fund was re￿iVed to purchase tools for the Link Power
project. All funds have been spent and the balan￿ on the fund represents the net book value of the
assets held.
Albert Goodman - grant for Link Community Store Ltd VRS re￿iVed to replenish stockholdings for the
store, and assist development of the shop's sustainability.
Street CricketlTNL Community Fund was granted to provide weekly indoor street cricket for children
from the community.
Welfare Fund was provided to assist families in dire need with one-off direct financial grants, subject
to certain criteria.
During the year there was a transfer of £17,500 from the restricted fund to unrestrrcted fijnd. This was
for the purchase of the share capital in Link Community Store. On investment into the Link Community
Store the restriction on the fund were fulfilled.
Page 24

Taunton East Development Trust
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
22 Analysis of net assets between funds
Total funds
at 31 March
2024
Unrestricted
funds
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
34,933
17.600
14,192
{13,084)
{22,473)
14,884
49,817
17,600
91,223
(13,084)
(22,473)
77,031
Total net assets
31.168
91,915
123,083
Total funds
at 31 March
2023
Unrestricted
funds
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
51,314
103,129
(9,776)
{30,352)
16,549
27,940
67,863
131,069
(9,776)
30,352)
Total net assets
114,315
44,489
158,804
23 Related party transactions
There were no related party transactions in the year. (2023.. None)
Page 25