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2023-03-31-accounts

Company registration number: 06434019 Charity registration number: 1122697

St Sidwell's Centre Exeter

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2023

Wortham Jaques Limited Chartered Accountants and Charity Advisers 130a High Street Crediton Devon EX17 3LQ

St Sidwell's Centre Exeter

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11 to 12
Balance Sheet 13 to 14
Notes to the Financial Statements 15 to 35

St Sidwell's Centre Exeter

Reference and Administrative Details

Trustees Keith Bell, Treasurer
Chris Dickens
Marcus Gardner
Suaad Genem
Rosemary Hanvey
Celia Plender
Maisaa Sweid
Secretary Keith Bell, Treasurer
Charity Registration Number 1122697
Company Registration Number 06434019
The charity is incorporated in England and Wales.
Registered Office St Sidwell's Centre
Sidwell Street
Exeter
Devon
EX4 6NN
Independent Examiner Wortham Jaques Limited
Chartered Accountants and Charity Advisers
130a High Street
Crediton
Devon
EX17 3LQ

Page 1

St Sidwell's Centre Exeter

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.

Objectives and activities

Objects and aims

The objects of St Sidwell’s Centre as set out in the Memorandum and Articles of Association are to help improve the physical and mental health, emotional wellbeing and quality of life of local individuals and groups, in Exeter and surrounding areas.

Objectives, strategies and activities

Across our main site and 178/179 Sidwell Street, we offer:

• The Sidwell Street Bakehouse is our community bakery. In its home at 178/179 Sidwell Street, we offer additional community space providing long-term venues for two other community organisations and occasional spaces for other groups and events.

• Free English for Speakers of Other Languages (ESOL) classes, and ESOL support for refugee families through the VPRS and UKRS schemes for Syrian refugees, ARAP and ACRS for Afghan refugees, support for Ukrainian refugees and for Hong Kong British National (Overseas) visa holders.

Public benefit

The current range of activities is set out in more detail later in this report and St Sidwell’s is proud that this wide range of activity is of clear benefit to the public both locally in Exeter and in the surrounding area.

The trustees confirm 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.

Achievements and performance

St Sidwell’s Activities and Projects

Introduction

At St Sidwell’s, our mission is to provide a safe and welcoming community space and opportunities for people from different backgrounds to connect, engage and grow. We are working towards our vision of an inclusive Exeter, with thriving and interconnected communities. Our values are focused on inclusion, participation and respect for others.

Over the past year, we have continued to experience a greater need from people across all areas of our work with more people seeking volunteering opportunities and ways to connect with others, free food, mental health and wellbeing support.

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St Sidwell's Centre Exeter

Trustees' Report

Volunteering and Work Experience

Our volunteering programme connects all of our work at St Sidwell’s, providing opportunities for local people to participate, engage and grow. Through volunteering at St Sid’s, individuals learn new skills and share existing ones; gain work-experience; meet others and make friends; and play an active role in the local community. Volunteers are involved across the full range of our projects and activities. Our volunteers are from diverse backgrounds and have a wide range of life experiences. We are grateful to all the volunteers who offer their time to St Sidwell’s. In 22-23 we had 196 active volunteers, some participating in multiple areas within the organisation. We are proud that our programme is popular, and attracting an average of three new applications each week.

“St Sid's has a special place in my heart and it's one of the best things about Exeter. Having a place to volunteer and get to know such an amazing variety of people has gotten me through some very tough times over the last two years. It's kept my mental health in check being able to come out and volunteer, and work with such inspiring people.” A recent Bakery and ESOL volunteer.

ESOL & Refugee Support

Our English for Speakers of Other Languages (ESOL) programme has continued to be an important part of our work. We offer a weekly range of free classes open to all, provide one-to-one support, and bespoke classes for specific groups. By the end of the year we had over 50 volunteers involved in the programme alongside a staff team of three and further freelance ESOL teachers supporting the programme. Each week we support an average of 110 ESOL students through our open access courses.

We have continued to provide ESOL support for refugee families through government resettlement schemes, with specific, tailored support offered to families through the UKRS, VPRS, ARAP and ACRS supporting families from Syria and Afghanistan. Many of the families eligible for these schemes have not yet been offered appropriate accommodation and are currently living in hotels – since October 2021 we have been providing a weekly programme of ESOL classes for Afghan refugees housed in bridging accommodation in Exmouth. Sadly over the year the war in Ukraine continued and we set up and supported volunteers to teach English across Devon.

We have also been supporting Hong Kong British National (Overseas) Visa holders with a range of ESOL classes including International English Language Testing System (IELTS) and Life in the UK preparation classes for advanced learners, as well as beginner, intermediate and conversation classes (over 100 attendees throughout the year). This is alongside support for the Hong Kong community to run welcome events for new arrivals and a wide range of other events, support to find and apply for jobs, and providing volunteering opportunities.

The Sidwell Street Café

Our Café offers good quality, nutritious home-made food at affordable prices. It is the physical centre of the Community Centre and has an important function in welcoming people to the Centre and providing a space for people to spend time, and connect with others. It is a key resource that has helped us to respond to local needs; help build a healthier community; and bring people from diverse backgrounds together. The Café offers volunteering opportunities in a sociable environment, with opportunities to meet and work with lots of different people. It is also an important support space for the wider community.

We are continuing to focus on adapting our menu to make best use of what we grow in the garden, bread from our Bakehouse and donations. We aim to keep our café as affordable as possible: all our volunteers are offered a free meal when they volunteer and we regularly give away food to those who need it.

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St Sidwell's Centre Exeter

Trustees' Report

Over the year the Café had over 14,000 separate transactions, with an average of 150 paid for meals each week. Over the December to March period we offered a Warm Spaces programme, opening the Café for additional hours every day and providing free tea, coffee and hot meals to people struggling with the increased cost of living. We provided over 100 free meals every week, with over 30 free meals on our busiest days.

Over the next year we plan to focus further on developing the training offer for Café volunteers and further exploring the links between food and mental health – ensuring that the food we offer and the environment are able to support people’s wellbeing.

Case Study: Two older customers who live together come in most days for a coffee or breakfast. On a day-to-day basis they don’t see many people except through their trips to the Community Centre. Recently one of them had a fall and the other one sought support from the Community Centre, we were the first people he told and he came in for daily support while his friend was in hospital. Through this he managed to organise some additional support for when his friend came home. He came in to tell us regularly how important that support was for him – being able to speak with staff and volunteers alike was crucial to reduce his isolation in this period, and now they are back in together every day.

The Sidwell Street Bakehouse

Our bakery has continued to develop with an evolving range of sourdough bread, savouries and treats created by our staff and volunteer team. Alongside providing a wider range of volunteering roles, this additional space is often valuable in providing quieter space for volunteers and opportunities for more one-to-one support which is particularly valuable for some of our volunteers. Having this different space and new opportunities has also enabled some volunteers to really flourish,

Case Study: One regular long-term volunteer who had previously volunteered in the Café, mainly helping to make tea and wash up in our small kitchen decided to try something new in the bakery. They started out by getting involved with making some of the sweet treats in the bakery and refreshing sourdough starters. Then they started doing some customer service and with this experience ended up redesigning our till system to make it more user friendly!

Although the bakery has had some challenges over the past year with significant increases in ingredients and energy costs, we are pleased to be able to continue offering wholesome bread to the local community without having to significantly increase prices.

Space for the community

One of our key aims is to support other community groups and organisations. We provide space to a wide range of organisations ranging from small informal groups, sessions run by our volunteers to larger charities or public sector groups. We also have a wide range of ESOL courses making use of our rooms every day. Over the year we had over 1,460 separate bookings by 100 different groups or organisations at the Community Centre. We are able to support new community groups by initially offering free or low-cost bookings that help them to establish as a group.

We continue to support Co Create and Exeter Library of Things with a long-term venue at 178/179 Sidwell Street (the home of our bakery) and occasional and ad hoc space for several other groups. Being able to provide opportunities for new community organisations has always been an important part of our work.

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St Sidwell's Centre Exeter

Trustees' Report

Mental Health Support

The impact of Covid on mental health has only been exacerbated by the subsequent energy crisis and increased cost of living more broadly. Over the past year we have worked hard to develop further mental health and wellbeing support within the community centre through funding from the Steel Charitable Trust and the Social Enterprise Support Fund (granted at the end of 21-22). We piloted a range of wellbeing focused activities and worked to develop a new Mental Health and Wellbeing Lead role to provide one-to-one support, coordinate group activities, and develop partnerships with other organisations and networks within the city. This role will also have a significant impact on wellbeing for other staff, as it means there will be dedicated time to respond to people arriving at the community centre needing support or in crisis.

Gardening and Grounds

The grounds of St Sidwell’s continue to be an important place for many people to spend time, and enjoy the therapeutic benefits of being outdoors. We maintain the grounds and grow fruit and vegetables with our team of volunteers (usually 10-12 each week). We secured a grant from South West Water towards our regular gardening programme which will enable us to continue weekly volunteer workshops, a series of public workshops and improve the water efficiency of our gardening. Focusing on sustainability and wildlife is really important to us, and we continue to look at ways we can garden in more environmentally friendly ways – such as leaving sections of the grass unmown to provide wildlife habitats. We are continuing to build on the links between our garden and Café to ensure the produce can be well used. We have secured funding from Exeter Chiefs Foundation towards several improvements in the grounds including building a large new greenhouse that will enable us to both propagate plants for sale and increase food production for the Café.

We have worked on improving the safety of the grounds through reinstalling lighting and necessary updates to CCTV through grants from Exeter City Council, support from Sovereign Housing and Exeter Chiefs Foundation. Sadly the ongoing issues discussed elsewhere in terms of the impacts of the Cost of Living Crisis and reductions in services is contributing to a significant amount of antisocial behaviour in the grounds, which we are seeking to respond to both through partnerships with other organisations and continuing to provide a supportive and welcoming environment for all in the Centre.

Heritage

We were awarded a small grant by the Heritage Fund to revive some of our previous Heritage work and explore whether there is appetite for more in the future. Through the grant we are focusing on the heritage and stories of the people of Sidwell Street alongside Devon traditions and history, through a series of arts and cultural events and collaborations. We kicked off with our second Wassail – a traditional ceremony to bring good health to apple trees and community alike. In 23-24 we will be focusing on cooking and creative workshops – and working together with Burn the Curtain and InExeter to create a giant Sidwella puppet as an emblem of Sidwell Street for the Exeter Carnival.

Thanks to our funders

We are grateful for the support of the following organisations in funding our work.

Page 5

St Sidwell's Centre Exeter

Trustees' Report

Thank you

Although we are clearly still seeing significant impacts from the covid 19 pandemic, the energy and cost of living crises, St Sidwell’s continues to do an amazing job of creating a supportive community that improves the lives of many people in the local area. The activities above highlight a Centre that is building back from the challenges of the pandemic with key activities going from strength to strength. New areas of work such as the mental health and wellbeing provision and support for Ukrainian refugees also show an impressive ability to react to emerging needs. All of these achievements are a testament to the hard work and commitment of everyone involved with St Sidwell’s. Thank you.

Last year, Trustees were delighted for Iona Collins to move from interim to permanent Centre Manager, and she has continued to do excellent work to lead and nurture the Centre. Among other achievements she has created strong lines of communication with staff and trustees, and developed an impressive track record for fundraising. Thank you, Iona. Thank you also to all of our brilliant staff for their outstanding work and dedication to St Sidwell’s. Last but by no means least, thank you to our trustees (for all they do behind the scenes), our volunteers, members, users, visitors, funders and partners. It takes all of us to make St Sidwell’s the special place that it is.

Financial review

The St Sidwell’s Board of Trustees has overall responsibility for financial management of the organisation. Decisions taken are informed by financial management information provided by the Centre Manager, Project Managers and Treasurer.

The charity result for 2022-23 was as follows:

----- Start of picture text -----
Unrestricted Restricted Total 2022-23 Total 2021-22
Income 126,240 257,589 383,829 358,950
Expenditure (176,213) (183,503) (359,716) (316,029)
Surplus/(Deficit) (49,973) 74,086 24,113 42,921
Transfers 49,688 (49,688) - -
Net movement of funds (285) 24,398 24,113 42,921
Balances brought forwards 108,540 57,646 166,186 123,838
Balances carried forwards 108,255 82,044 190,299 166,186
----- End of picture text -----

This means our unrestricted reserves (our carried-forward balance) have grown to £190,299 which represents an estimated 6 months of our core costs, a similar figure to last year given the growth in core expenditure during the year.

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St Sidwell's Centre Exeter

Trustees' Report

Policy on reserves

It is widely accepted that a charity should hold at least 3 months of unrestricted reserves to protect the charity from cyclical variations in income. St Sidwell’s is working towards retaining at least that figure.

Investment policy and objectives

The charity does not hold sufficient funds to invest in anything other than deposit accounts which provide total security.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Keith Bell, Treasurer Chris Dickens (appointed 7 November 2022) Marcus Gardner Suaad Genem Rosemary Hanvey Celia Plender Sarah Porter (retired 20 September 2023) Maisaa Sweid (appointed 11 January 2023) Martin Weiler, Chair (retired 2 November 2022) Richard Westlake (retired 2 November 2022) Alex Hibbard (retired 8 September 2022) Secretary: Keith Bell, Treasurer

Structure, governance and management

Nature of governing document

St Sidwell’s Centre is a company limited by guarantee and a registered charity. The company was incorporated on 22nd November 2007. It has no share capital, and the guarantee of each member is limited to £10.

The governing document is the Memorandum and Articles of Association of the company and members of the Board of Trustees are the Directors of the company.

Recruitment and appointment of trustees

The Board of Trustees comprises those people elected by members and at each AGM one third of those trustees must retire in rotation. Elected trustees may be re-appointed and at least one third of those Trustees/Directors must be volunteers at the Centre with at least one year’s experience.

Induction and training of trustees

St Sidwell’s regularly conducts an audit of trustee skills and knowledge which helps to identify gaps and priorities for seeking appointments to the Board, and suitable induction is given to new appointees.

Page 7

St Sidwell's Centre Exeter

Trustees' Report

Organisational structure

The core of the Centre’s governance remains the individuals and groups around St Sidwell’s Exeter and the surrounding areas. It operates for social and community benefit, and it is not profit-making. Members elect the Centre’s Board of Trustees/Directors and are representatives of the stakeholders to which the Centre is ultimately accountable. The day-to-day management of the centre is delegated to the Centre Manager

Major risks and management of those risks

The charity reviews risk to its operations at each stage of any new developments and at every Trustee Board meeting and continues to work towards a mix of activities and income sources that do not place its future funding at risk

The Charity is the sole shareholder of St Sidwell’s Trading Company Ltd. The nominal share value is £1. The operation, whilst being a commercial bakery, also allows us to provide opportunities to our client group and volunteers, and offers training opportunities in line with our charitable objectives. Its profits are all ploughed back into the charity as unrestricted funds.

We have a Risk Management policy which is reviewed annually and a Risk Register which is used to assess and guide our response to risks across governance, financial and operational areas.

Statement of trustees' responsibilities

The trustees (who are also the directors of St Sidwell's Centre Exeter for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can 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 maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 8

St Sidwell's Centre Exeter

Trustees' Report

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on 20 September 2023 and signed on its behalf by:

......................................... Celia Plender Trustee

Page 9

St Sidwell's Centre Exeter

Independent Examiner's Report to the trustees of St Sidwell's Centre Exeter ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

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 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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 St Sidwell's Centre Exeter as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those 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 Practice for accounting and reporting by charities.

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

...................................... Charlotte Chapman Gibbs BFP ACA Wortham Jaques Limited Chartered Accountants and Charity Advisers

130a High Street Crediton Devon EX17 3LQ

19 October 2023

Page 10

St Sidwell's Centre Exeter

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
funds
£
33,809
92,429
2
126,240
(28,000)
(148,213)
(176,213)
(49,973)
49,688
(285)
108,540
108,255		 Restricted
funds
£
10,000
247,589
-
257,589
-
(183,503)
(183,503)
74,086
(49,688)
24,398
57,646
82,044		 Total
2023
£
43,809
340,018
2
383,829
(28,000)
(331,716)
(359,716)
24,113
-
24,113
166,186
190,299

The notes on pages 15 to 35 form an integral part of these financial statements. Page 11

St Sidwell's Centre Exeter

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
funds
£
75,934
64,046
86
2,558
142,624
(28,000)
(145,070)
(173,070)
(30,446)
38,120
7,674
100,866
108,540		 Restricted
funds
£
39,297
177,029
-
-
216,326
-
(142,959)
(142,959)
73,367
(38,120)
35,247
22,399
57,646		 Total
2022
£
115,231
241,075
86
2,558
358,950
(28,000)
(288,029)
(316,029)
42,921
-
42,921
123,265
166,186

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 21.

The notes on pages 15 to 35 form an integral part of these financial statements. Page 12

St Sidwell's Centre Exeter

(Registration number: 06434019) Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
17
Creditors: Amounts falling due within one year
18
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
19
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
21
Unrestricted income funds
Unrestricted funds
Total funds
21		 2023
£
22,679
1
22,680
102,010
96,473
198,483
(20,078)
178,405
201,085
(10,786)
190,299
82,044
108,255
190,299		 2022
£
37,147
1
37,148
29,449
120,063
149,512
(20,474)
129,038
166,186
-
166,186
57,646
108,540
166,186

For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The notes on pages 15 to 35 form an integral part of these financial statements. Page 13

St Sidwell's Centre Exeter

(Registration number: 06434019) Balance Sheet as at 31 March 2023

The financial statements on pages 11 to 35 were approved by the trustees, and authorised for issue on 20 September 2023 and signed on their behalf by:

......................................... Celia Plender Trustee

The notes on pages 15 to 35 form an integral part of these financial statements. Page 14

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Charity status

The charity is limited by guarantee, incorporated in England and 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: St Sidwell's Centre Sidwell Street Exeter Devon EX4 6NN

These financial statements were authorised for issue by the trustees on 20 September 2023.

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 otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

St Sidwell's Centre Exeter meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

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

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 funds, 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.

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St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

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 performance 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.

Donated services and facilities

Where services or facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this benefit is included in the financial statements at it's fair value unless it's fair value cannot be reliably measured, then at the cost to the donor or the resale value of goods that are to be sold.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

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, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

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 necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property 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 audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

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 Depreciation method and rate Furniture and equipment 25% straight line basis

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

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.

Page 17

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds 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.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Page 18

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 19

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 20

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Donations from community groups
Grants, including capital grants;
Grants from other charities
Donated services and facilities
Total for 2023
Total for 2022
4
Income from charitable activities
Cafe
Room rental
Bakehouse
Community projects
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
647
452
4,710
28,000
33,809
75,934
Unrestricted
funds
General
£
53,269
25,307
4,805
9,048
92,429
64,046		 Restricted
funds
£
-
-
10,000
-
10,000
39,297
Restricted
funds
£
-
-
-
247,589
247,589
177,029		 Total
funds
£
647
452
14,710
28,000
43,809
115,231
Total
funds
£
53,269
25,307
4,805
256,637
340,018
241,075

Page 21

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
2
2
86		 Total
funds
£
2
2
86

6 Expenditure on raising funds

a) Costs of generating donations and legacies

Donated services and gifts in kind
Total for 2023
Total for 2022
7
Expenditure on charitable activities
Note
Cafe
Room rental
Bakehouse
Core activities
Community projects
Depreciation, amortisation and other
similar costs
Staff costs
Allocated support costs
8
Governance costs
8
Total for 2023
Total for 2022		 Note
Unrestricted
funds
General
£
32,460
359
5,552
1,068
1,541
17,010
67,680
20,017
2,526
148,213
145,070		 Unrestricted
funds
General
£
28,000
28,000
28,000
Restricted
funds
£
-
-
-
1,202
58,244
-
124,057
-
-
183,503
142,959		 Total
funds
£
28,000
28,000
28,000
Total
funds
£
32,460
359
5,552
2,270
59,785
17,010
191,737
20,017
2,526
331,716
288,029

Page 22

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Cafe
Room rental
Bakehouse
Core activity
Community projects
Total for 2023
Total for 2022		 Activity
undertaken
directly
£
63,138
5,759
5,552
47,028
170,686
292,163
239,764		 Activity
support costs
£
11,108
11,108
-
-
14,811
37,027
45,839		 Total
expenditure
£
74,246
16,867
5,552
47,028
185,497
329,190
285,603

In addition to the expenditure analysed above, there are also governance costs of £2,526 (2022 - £2,426) which relate directly to charitable activities. See note 8 for further details.

Page 23

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

8 Analysis of governance and support costs

Support costs allocated to charitable activities

Support costs allocated to charitable activities
Basis of allocation
Cafe
A
Room rental
A
Community projects
B
Basis of allocation
Cafe
A
Room rental
A
Community projects
B		 Finance costs
£
8
8
11
27
Finance costs
£
1
1
1
3		 Information
technology
£
684
684
912
2,280
Information
technology
£
697
881
881
2,459		 Administration
costs
£
1,554
1,554
2,071
5,179
Administration
costs
£
1,474
1,861
1,857
5,192		 Premises costs
including
depreciation
£
3,759
3,759
5,013
12,531
Premises costs
including
depreciation
£
15,467
18,029
2,932
36,428		 Other support
costs
£
5,103
5,103
6,804
17,010
Other support
costs
£
299
434
1,024
1,757		 Total
2023
£
11,108
11,108
14,811
37,027
Total
2022
£
17,938
21,206
6,695
45,839

Basis of allocation

Reference Method of allocation A Floor area B Staff time

Page 24

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Governance costs

Independent examiner fees
Examination of the financial statements
Other governance costs
Total for 2023
Total for 2022
9
Net incoming/outgoing resources
Net incoming resources for the year include:
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets		 Unrestricted
funds
General
£
2,513
13
2,526
2,426
2023
£
-
17,010		 Total
funds
£
2,513
13
2,526
2,426
2022
£
298
23,261

10 Trustees remuneration and expenses

During the year the charity made the following transactions with trustees:

Alex Hibbard

Alex Hibbard received remuneration of £Nil (2022: £571) during the year.

Professional fees were paid to this trustee for work done to assist the provision of the DCF Food Delivery Project and the Cookery School during this year.

Keith Bell

£75 (2022: £Nil) of expenses were reimbursed to Keith Bell during the year.

Reimbursement of travel expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any other benefits from the charity during the year.

Page 25

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

11 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
177,483
9,241
5,013
191,737		 2022
£
156,057
10,719
4,013
170,789

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Charitable activities
No employee received emoluments of more than £60,000 during the year.
12 Independent examiner's remuneration
Examination of the financial statements		 2023
No
16
2023
£
2,513		 2022
No
12
2022
£
2,413

Page 26

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Land and
buildings
£
10,993
500
-
11,493
2,748
2,998
5,746
5,747
8,245		 Furniture and
equipment
£
164,756
3,387
(1,138)
167,005
137,329
13,728
151,057
15,948
27,427		 Motor vehicles
£
1,967
-
-
1,967
492
491
983
984
1,475		 Total
£
177,716
3,887
(1,138)
180,465
140,569
17,217
157,786
22,679
37,147

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £5,746 (2022 - £8,245) in respect of leaseholds.

15 Fixed asset investments

Shares in group undertakings and participating interests 2023
£
1		 2022
£
1

Page 27

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Shares in group undertakings and participating interests

Shares in group undertakings and participating interests
Cost
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Subsidiary
undertakings
£
1
1
1
1		 Total
£
1
1
1
1

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting rights Principal
Undertaking incorporation Holding and shares held activity
2023
2022
Subsidiary undertakings
St Sidwell's Trading
Company Limited		 England and Wales Ordinary
Share		 £1 100%
100%		 Bakery

Page 28

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Subsidiaries

The profit for the financial period of St Sidwell's Trading Company Limited was £6,317 (2022 - £8,870) and the aggregate amount of capital and reserves at the end of the period was £8,358 (2022 - £2,041).

16 Debtors

16 Debtors
Trade debtors
Due from group undertakings
Accrued income		 2023
£
39,765
56,840
5,405
102,010		 2022
£
24,571
1,956
2,922
29,449

17 Cash and cash equivalents

Cash on hand
Cash at bank		 2023
£
342
96,131
96,473		 2022
£
269
119,794
120,063

18 Creditors: amounts falling due within one year

Trade creditors
Other loans
Other taxation and social security
Other creditors
Accruals		 2023
£
9,644
-
4,343
2,540
3,551
20,078		 2022
£
2,576
10,786
2,930
1,068
3,114
20,474

19 Creditors: amounts falling due after one year

Other loans 2023
£
10,786

20 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £5,014 (2022 - £4,013).

Page 29

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

21 Funds

Unrestricted funds
General
Unrestricted income fund
Cafe
Room Hire
Bakehouse Sales
Cookery School
Gardening
Mosque Garden
Restricted funds
Devon County Council - UKRS/VPRS
Northbrook Trust
VCSE - Hong Kong Welcome Programme
Devon County Council - Hong Kong Welcome Programme
Devon County Council - ACRS/ARAP
Social Enterprise Support Fund
Steel Charitable Trust
Devon County Council - ESOL
Petroc Community Grants		 Balance at 1
April 2022
£
108,540
-
-
-
-
-
-
108,540
1,639
5,105
17,823
-
1,083
20,846
8,300
-
-		 Incoming
resources
£
39,533
53,269
25,307
4,805
3,300
-
26
126,240
10,110
-
22,977
18,495
56,076
-
-
16,600
10,240		 Resources
expended
£
(101,318)
(63,138)
(5,758)
(5,552)
(364)
(56)
(27)
(176,213)
(7,296)
-
(37,138)
(10,381)
(39,666)
(17,606)
(7,949)
(2,263)
(8,733)		 Transfers
£
26,771
16,750
7,243
1,803
(2,936)
56
1
49,688
(3,915)
-
(3,662)
(8,114)
(15,680)
(3,240)
(351)
(3,085)
(1,507)		 Balance at 31
March 2023
£
73,526
6,881
26,792
1,056
-
-
-
108,255
538
5,105
-
-
1,813
-
-
11,252
-

Page 30

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Devon County Council - Household Support Fund
Devon County Council - ESOL
Exeter City Council - Community Buildings Fund
Power to Change
Western Power Distribution - Community Matters Fund
Exeter Chiefs Foundation
Exeter City Council - Large Capital Fund
South West Water
National Lottery Heritage Fund
National Grid - Community Matters Fund
NHS South West Cost of Living Community Fund
Devon County Council - Growing Communities Fund
Total restricted funds
Total funds		 Balance at 1
April 2022
£
2,850
-
-
-
-
-
-
-
-
-
-
-
57,646
166,186		 Incoming
resources
£
9,500
22,500
5,000
14,000
2,465
29,000
5,000
9,520
10,000
9,940
3,200
2,966
257,589
383,829		 Resources
expended
£
(4,674)
(24,446)
(5,000)
-
(1,616)
(486)
(1,202)
(545)
(5,489)
(3,097)
(3,200)
(2,716)
(183,503)
(359,716)		 Transfers
£
(7,676)
1,946
-
-
(849)
-
-
-
-
(3,305)
-
(250)
(49,688)
-		 Balance at 31
March 2023
£
-
-
-
14,000
-
28,514
3,798
8,975
4,511
3,538
-
-
82,044
190,299

Page 31

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted funds
General
Unrestricted income fund
Cafe
Room Hire
Bakehouse Sales
Restricted
Devon County Council - UKRS/VPRS
Northbrook Trust
VCSE - Hong Kong Welcome Programme
Devon County Council - Hong Kong Welcome Programme
Devon County Council - ACRS/ARAP
Social Enterprise Support Fund
Steel Charitable Trust
Petroc Community Grants
Devon County Council - Household Support Fund
Kickstart - Core
People's Postcode Lottery
DCC C19 Isolation
DCC CLSG
St Sidwell Bakehouse
DCC HAF		 Balance at 1
April 2021
£
93,745
-
(1,269)
8,390
100,866
-
10,933
-
-
-
-
-
598
-
-
5,856
-
-
5,012
-		 Incoming
resources
£
75,083
37,283
25,515
4,743
142,624
25,019
-
22,977
13,261
22,801
22,000
8,300
9,834
12,000
7,534
-
4,888
8,700
-
8,480		 Resources
expended
£
(124,101)
(39,068)
(8,634)
(1,268)
(173,071)
(24,353)
(5,828)
(5,154)
(7,730)
(13,966)
(1,029)
-
(9,004)
(9,150)
(6,100)
(6,340)
(4,888)
(8,713)
(5,012)
(8,444)		 Transfers
£
63,812
1,785
(15,612)
(11,865)
38,120
973
-
-
(5,531)
(7,752)
(125)
-
(1,428)
-
(1,434)
484
-
13
-
(36)		 Balance at 31
March 2022
£
108,539
-
-
-
108,539
1,639
5,105
17,823
-
1,083
20,846
8,300
-
2,850
-
-
-
-
-
-

Page 32

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

Kickstart - Education
Awards for All
Mosque Garden
ECC Strategic Fund
Kickstart - Bakehouse
Finnis Scott
Total restricted funds
Total funds		 Balance at 1
April 2021
£
-
-
-
-
-
-
22,399
123,265		 Incoming
resources
£
6,997
9,991
5,210
19,826
7,508
1,000
216,326
358,950		 Resources
expended
£
(5,605)
(8,024)
(5,015)
(1,154)
(6,450)
(1,000)
(142,959)
(316,030)		 Transfers
£
(1,392)
(1,967)
(195)
(18,672)
(1,058)
-
(38,120)
-		 Balance at 31
March 2022
£
-
-
-
-
-
-
57,646
166,185

Page 33

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

The specific purposes for which the funds are to be applied are as follows:

• Devon County Council –UKRS/VPRS – an ongoing contract with DCC for coordinating delivery of ESOL (English for Speakers of Other Languages) for Syrian refugees living in Devon under the Home Office schemes above.

• Northbrook Trust – funding to provide activities and food to alleviate holiday hunger

• The Department for Levelling Up, Housing and Communities regional VCSE grant for the Hong Kong BN(O) Welcome Programme

• Devon County Council – ACRS/ARAP– an ongoing contract with DCC for coordinating delivery of ESOL (English for Speakers of Other Languages) for Afghan refugees living in Devon under the Home Office schemes above.

• Social Enterprise Support Fund (National Lottery Community Fund) – funding to support core costs while the Centre rebuilds from Covid and develop our Mental Health and Wellbeing programme.

• Devon County Council – ESOL grant funding for general ESOL activities

• Devon County Council – Household Support Fund – funding for free meals to support those struggling with food costs

• Devon County Council – grant funding for ESOL for Ukrainian refugees

• Exeter City Council – Community Buildings Grant to support our volunteering programme

• Power to Change – Resilient Communities: funding to support with increased operation costs due to the cost of living and energy crises • Power to Change – Powering Up: funding to develop a Sustainability strategy and improve environmental sustainability of our activities • Western Power Distribution - Community Matters Fund – funding to run family cooking workshops to reduce holiday hunger

• Exeter Chiefs Foundation- funding to build a new greenhouse in the grounds and support other grounds improvements including rebuilding steps and installing CCTV

• Exeter City Council – Large Grants to support capital costs of lighting and CCTV in our grounds

• South West Water – funding to run regular gardening activities, water saving gardening workshops and improve our gardening practices to reduce water usage

• National Lottery Heritage Fund – funding to run a series of community heritage events, volunteering opportunities and collaborate on building a giant Sidwella puppet

• National Grid – Community Matters Fund- – funding to run a Warm Spaces programme to support people with the cost of living crisis

• NHS South West Cost of Living Community Fund – funding to expand and extend our Warm Spaces programme to support people with the cost of living crisis

• Devon County Council Growing Communities Fund – funding for activities focused on food and wellbeing to support with the cost of living crisis.

The net transfer of £26,773 is represented by various elements of funding to cover the overhead costs of core activities of the charity.

The total transfer of £49,688 into general unrestricted funds is represented by:

£2,540 transferred from restricted funds to cover the purchase of capital expenditure,

£47,148 transferred from restricted funds as contributions to project costs and/or overhead costs as allowed under the relevant funding agreements.

Page 34

St Sidwell's Centre Exeter

Notes to the Financial Statements for the Year Ended 31 March 2023

22 Analysis of net assets between funds

22 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
23 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt		 Unrestricted
funds
General
£
22,679
1
116,439
(20,078)
(10,786)
108,255
Unrestricted
funds
General
£
37,147
1
91,116
(19,724)
108,540
At 1 April
2022
£
120,063
120,063
At 1 April
2021
£
89,041
89,041		 Restricted
funds
£
-
-
82,044
-
-
82,044
Restricted
funds
£
-
-
58,396
(750)
57,646
Financing cash
flows
£
(23,590)
(23,590)
Financing cash
flows
£
31,049
31,049		 Total funds at
31 March
2023
£
22,679
1
198,483
(20,078)
(10,786)
190,299
Total funds at
31 March
2022
£
37,147
1
149,512
(20,474)
166,186
At 31 March
2023
£
96,473
96,473
At 31 March
2022
£
120,090
120,090

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