Company registratlon number.. 06577677 Chaiity registration number: 1125142 rrvs (A cx)mpany limlted by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 WESTCOTTS CH*RTIRED ACCQUWTAIITS & BUSIIIESS ADVISER5
Trvs Contents Reference and Administrative Details Trustees Report 2to8 Independent Examlnerfs Report Statement of Financial Actsvitses 10 Balance Sheet 11 Statement of Cash Fk)ws 12 Notes to the Flnancial Statements 13to28
Trvs Reference and Administrative Detalls Trust8es: MrsSALaw Mr R Shamsolahl (resigned 7 August 2024> Mr N J Underwood Mr M Teare Mrs R Young (r8signed 15 Novemb8r 2023) Mrs M Harding (app(xnted 15 November 2023) Mrs R A Clarke (appointed 15 November 2023 and resigned 11 June 2024) Mr M Deaton (appointed 15 November 2023) Mr G Cusick (appointed 15 November 2023) Sgcrgtary Mr N J Underw(xxl Charlty Reglstrallon Number 1125142 Company Registration Numb•r 065776TT Roglstered Offico 14 Bridgeland Street Bideford Devon EX39 2QE Westcots (SW) LLP 47 Boutport Str88t Bamstaple Devon EX31 1SQ Independent Exam5n•r Page 1
Trvs Trustees Report The trustees, who are directors for the PUTposes of company law, present the annual report together wtth the financial statements of the charitable company for the yEar ended 31 March 2024. Structure, governance. and management Ttvs is a company limited by guarantee (number 06577677) and a registered charity (number 1125142) viith an area of benefit whic41 indudes both Torridge and Norlh Devon. Members include representatives from local voluntary and community groups arNJ statutory agencies across Northem Devon, although our cuffent Counol for Voluntary Services (CVS) membership is primarily focused in Torridge. TTVS provides and coordinates volunteering opp)rtunities throughout Torridge and during this reporting period we have registered 86 volunteers through our Volunteer Centre. The Tfvs Board of D1CtOrS has overall responsibility for the mark3gement and development of the organisation. A Flnance Subgroup meets on a quarterly basis to deal with any organisatTronal finance issues and an Admin Subgroup also meets quarterly and deals wth HR and staff policy issues. both groups then make ¢0mmendationS to the Board. The Board of Directors meets quarterly arKI urKlertakes a full organisational and finance risk assessment on an annual basis. The Chief Executive has overall responsibility for all strategic and operational aspects of rrvs as well as for the management of TTVS projects. The Finance Manager is responsible for the daY-tdaY financial management of the organisation, supported by the Treasurer who reports to the Finance Subgroup quarterly meetings. rrvs currently empk)Js 38 members of staff reswnsible for eilher running the organisation or delivering projects that SUppt the community. We are currently supporting young car8rs and JDung adult carers (Young Carers Connected), older people and carers fforrAGE, Help at Home, Active & Connected, Memory Cafés, Home Fire Safety Visits and Financial Indusion). and the voluntary and community sector through group development and volunteering. Membership of rrvs is open lo voluntsry and communty organisations operating in Torridge and Norlh Devon, ensuring indusivty and accessibility. rrvs has a broad mèmbership base of local groups including sports dubs. arts" parish councils. health and social care focus8d charits'es., sr)uth clubs and activitses; history and heritage groups and community transport associations. Recruitinent arKI induction of Trustees Trustee recruitment is done in three ways either by infompl identification of potential trustees via local connections or networking. fomial advertising when a requirement for a new Trustee arises, such as 8 Treasurer and by formal norninati( request prior to the AGM. The induction process for new Trustees is: Informal conversation with CEO to establish rf Ihe potential trustee is the right fil for rrvs and rrvs Is Ihe right fit for tham. Invitstion to be a guest at the n8Xt Directors Meeting Appointment to visii the rnIS off and meet staff and managers. Induction Pack. o)ntaining the latest Minutes, latest aCcftts, revant policies. schedule of meeting date etc. Fomal election then takas place at the AGM. 6. Approved Directors forms sent to Companies House Page 2
Trvs Trustees Report Remuneration of key stsff We have intrOdUd our own pay scales and track the NJC lo ensure we are in line with the market and cost of living. Individual SGgles are assessed against pay scales wtthin the VCSE sector throughout the UK for appropriateness and proKM)rtionality. Pay awards are discussed at Trustee levels and decisions around pay awards are minuted, as a point of record. Staff are represented at any pay award discussions by a nominated staff representative. Vl8ion. Mlsslon, and Values Our Vlslon, Mlsslon & Valu•s ) anJhpY¢0rnffltsnhiY . In• th opportuni¢O•st• %WDtto ¢11 fffjm4Ad •mpo•r ofi• ' Qlh•r. •5On•.- Page 3
Trvs Trustees Report Tfvs Current Activities MIS supports, develops. and promotes th8 local voluntsry and community $8Ctor through a number of key activites. 1. Group Development and Support . Funding Advic8 - funding searches 8fKI help wilh bid wrtting and funding strategios. . Group Development and govemance - helping groups and proieds to set up, develop projects and manage thems8lves properfy, including advice around legal structures. emplo>ryng staff, insurance, the roles. and responsibilities of Trustees etc. . Brokerage - referring and signposting dients to appropriate voluntary organisations. . Advice and Infomiation - providing monthly e-bulletins on matters around furiding and training as well as being accessible for any general enquiries. . Training - providing training, suth as accredited Emergency First Aid or sKJnpcYsting local groups to training opportunitTr8S. 2. Llalson Building al nelworks and ensuring that the needs and views of the voluntary sector are represented to furiders. local authorities. slatutory bodies etc. 3. Partnerships . As an infrastructure organisatM)n, we believe that working in partnership is crucial to supporting our communities. We work with a number of different partnerships ranging from local and regional authorities through to the NHS. One Northem Devon. We also work wsth a number of different VCSE organisations such as North Devon Voluntary Services (NDVS), Devon Voluntary Acton {DeVA). Active Devon. Encfjmpass, Mid Devon Carers and Citizens Advice Torridge, North. West arKI Mid Devon. Strategic parinerships are constandy evolving, and w8 are working as part of a WK18r group to integrate the voluntary and public sectors across Northern Derfon and th8 wider county. . D8V8loping Mu. agency approaches to identity'rKJ needlgaps in provision 8nd then developing local solutions such as Tfvs carers and older people support work. The Volunteer Centre IVC) is a core function of Tfvs. The VC is a nationally accredited Volunteer Centre and activities indude: Brokerage.. . matching volunteers to opportuntti8S Promottng Devon Connec Marketing votunteering Good practice development Developing volunteering opportunities PoliGy response and Campaigning Strategic development of volunteering Delivery of volunteer led projects such as helping people home from hospital. Page 4
Trvs Trustees Report Accreditatlon Tfvs is an accredited Volunteer Centre and a member of the Nab'onal Association for Voluntsry and Community Action (NAVCA) and The National Council for Voluntary Organisations (NCVO). Tackllng Heatth Inequalilies We want to advocale for change tsckle health inequaltties for the people and (xjmmuniknes we support: TorrAGE: offering support and infonnation to okjer people across Torridge and parts of North Devon. Memory cafes: supporting carers and thelr cared for who are experiencing memory problems or dementia and who live in and around Northam and Bideford. Young Carers Connected: a partnership programme with Citizens Advice Torridge, North. West and Mid Devon to support young carers aged 8-24 and their families to gain skills, confidence and improve lrfe chances. Financial Indusion: a welkestablisped project supporting dder people in the Bideford and surrourxling area to aCsS and claim benefits and grants to which they are entitled. Active & Connected: preventative work to redu demand on dinic services. Home Fire Safety Wisits: a partnership with Devon and Sornerset Flre and Rescue. seNice aimed at increasing the number of fire preventK)n visrts for those at higher risk. The servi was withdrawn for a short wiod of time. in order to clear a back log of enquiries. Flnancial review Overv5ew of the year The year to 31st March 2024 saw rrvs's global income decrease by £282,496 from £819,476 to £536,950. Of this income, 72.4Yo (£388,570) was restricted and utilised to directly support TTVS projects. The restricted ratio tt) total Income is slightty less than lasl year. Total expenditure in the same pertQKI decreased by 9.5% over the previous ar from £746,109 to £675,471. The proportion of expenditure on supported projects was 750 of the total spend. The total funds reduced by £138.491 by the year end and at 31st March totalled £380.776. with a net spend after income on project activities of £128,879. rnIS has remained within the parameters set by its Reserves Policy and ends this current >ear with the provisions designated by the Policy in place. The Trustees are therefore confident that this level of financial prudence both past and present will hold the Charity in gcM)d stead to face the inevitable and additional thallenges ahead brought on by recenl global and political un(*rtainty. Income Restricted income (as defined by Accounting Policies 1n the Notes to the Financial Statements): The restricted income totslled £388.570 compared to £650.973 in the previous financial year, a decrease of £262.403. Unrestricted income (as defined by Accounting Policies wtthin the Notss to the Financial Slatements): Unrestricted funding deaSed by £20,093 in the 2023124 financial srar to £148.410. in the year being reported. Page 5
Trvs Trustees Report Expenditure Total expenditure for the year amounted to £675,471, a decrease against a value of £746.109 the previous year. Restricted expenditure (as defined by Accounting Poticies within the Notes to the Financ4al Statements): Restricted spend decreased from £570.717 in 2022123 to £506.847 in 2023124. a decrease of £63.870. Unrestricted oxpenditure (as defined by Accounting Policies within the Notes to the Financial ststements): Expenditure on core costs was decreased fr(Kn £175,392 in 2022123 to £168.624. a decrease of £6.768. Funds of the Charlty The unrestricted reserves now stands at £181.279. do1 from £190.891. Of this lots1. £173,659 is set aslde as designated funds by the Truste8S to cover organisational costs, decreased from £177,489. We have decreased the dessgnated fund to reflect true running costs for 6 months and have also contingency costs for telephone system and photocopier lease. In Ilne. we have redLKed our general fund to £7.820. The rrvs Reserves Policy is available by ntaCting the Finance Manager on 01237 420146 or by 8mail via the rrvs website httPS:IIMwi.torridgeDts.org.uk. The remaining £7,620 of urKlesignated unrestricted funds at 31 March 2024 is available to provide financial reassurance in the event of unprecedented or unforeseen circumstances. rrvs managed restricted funds totalling £199,497 at the end of the 2023124 financial year. ststement of Public Benefft Principle 1.. There must be an identtfiable benefft or beneffts. 1 a It must be dear what the beneffts are (to the public) As outlined in the 2023124 rrvs Annual Report. all rrvs activity - whether supporting the health, strength, and developrnent of the voluntary and community sector through infrastructure support or by providing direct services to groups or irKlividuals in need of help when an unmet need has been identffied - is for the benefft of Ihe public. 1 b The benefits must be related to the aims of the organisation. The benefits provFded by TTVS to voluntary and community groups, volunteers. carers, older people, and people experiencing mentsl health difficulties as detailed in our 2023124 Annual Report, dearly meet our Objects ar the Statement of Purpose arKI Core Values outlined in this documenL 1c Benefits must be balanc8d against any detriment or hami. Page 6
Ttvs Trustees Report We run all services to the highest standard and in line with robust policies governing staff employment and support: financial management; volunteer managemenL child protection. vulnerable adult protection and health and safety. Our Volunteer Centre is accredited by Volunteering England NCVO, and we are full members of the NAVC Principle 2: Benefit must be to the wblic. or seclion of the public. 2a The beneficiaries must be appropriate lo the aims. Our beneficiaries are voluntary and communty organisations. volunteers. carers. young carers. older people and groups or individuals in need of support where unmet need is identified. Beneficiaries are appropriate to our Otyects. Statement of Purpose. and Core Values. 2b Where benefft is to a section of the public. the opportunty to benefit must not be unasonablY restricted: rnIS services are open to all rdevant groups and individuals within Northern Devon - the Charitys maln aa of benefit-and we have a robust Equalty and Diversity policy. 2c Any private beneffts must be incidental. All Directors give of their time freely and minimal remuneration or expenses were paid in the year. No Dlrector or person connected wtlh a Director received any benefft from the charity. Statement of responslbllftles (wfthln Trustees Report) The trustees (who a also the directors of Tfvs for the purposes of company law) are responsible for preparing the financial statements in acwrdance with applicabl8 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounts'ng Practice). Including FRS 102 Tr Financial Reporting Stsndard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordan(x with the wovisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare finanaal statements for eath financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a tru8 and fair view of the state of affairs of the charitable company and of the incoming resources and application of resour&8s. induding its income and expenditure. of the charitable company for that Period. In preparing these financial statements, the trustees are required lo: select suitable accounting policies and apply them consistenty, observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudenL state whether appllcable accounting standards. comprising FRS 102 have been followed. subject to any material departUS discbsed and explained in the financial statements. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the tharitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the finanaal pos[tn of the charitable company and enab them to ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 7
Trvs Trustees Report The trustees are responsible for the Maintenan and integrity of the corporate and financial inforrnalion included on the tharitable companys website. Legislation goveming the preparation and dmInatiOn of financial ststements may differ from legislation in other jurisdictions. Small companles provision 8tst8m¢nt This r8POrt has been Prepared in accordance with the small companies regime under Ihe Companies Act 2006. The annual port was approved by the twstees of the tharlty on J2.L.iilx*and signed on its behalf by: MrsSALaw Trustee J Underwood Company Seuetsry and Trustee Page 8
rrvs Independent Examinerfs Report to the trustees of Tnis (Ihe Company.) I report to the charity Iruslees on my examination of the accounts of the Company for the year endad 31 March 2024. Responslbllltles and basls of report s the charitys 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 Mrith the requirements of the Companies Act 21)06 {'the 2006 Acr). 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 a¢untS as carried out under section 145 of th8 Charities Act 2011 ('the 2011 Acr). In carrying out my examination I have followed the Directions gNen by the Charity Commission under seclion 145{5){b) of the 2011 Act. Independent examinef s statement Since the Companvs gross income exc88ded £250.000 srjur examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatlon because l am a member of . which is one of the listed bodies. I have completed my examination. I confimi 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 TP4S as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; (x 3. the accounts do not comply WFlh the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a Irue and fair vlew which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance the methods and princlples of the Statement of Recommended Practice for accounting and reporting by charrties [applicable to charities preparing their accounts in accordanc8 wlth Financial Reporting Standard applicable in th8 UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters In connection WTlh Ihe examination to which attention should be drawn in this repjrt in order to enable a proper understanding of the accounts to be reached. Catherine Williams FCA DChA Independent Examiner Weslcotts (SW) LLP 47 Boutport Street Bamslaple Devon EX311SQ Page 9
Ttvs Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Total 2023 Note Incom• and Endowments from: Donations and legacies Charitable activities Investment income 1.872 136.726 9.812 24.626 363.944 26.498 500,670 9,812 19,163 797,060 3,253 Totsl income 148.410 388.570 536,980 819.476 Expenditure on: Charitable a¢tivltles 168.624 506.847 675.471) 746.109 Total expenditure 168,624 506.847 (675,471 746,109 Net (expendtture)fincome Transfers between funds (20,214) 10.602 (118.2T7) 10,602 (138.491) 73.367 Net movement in frjnds (9.612) (128.879) (138,491) 73,367 Reconciliation of funds Total funds brought forward Total funds carried forward 18 190,891 328,376 519,267 445,900 181,279 199,497 380,776 519.267 All of the charlty's actwities derive from continuing operations durlng the atK)ve two periods. The fjjnds breakdown for 2023 Is shown in note 18. The notes on pages 13 to 28 fom an integral part of these financial statements. Page 10
Trvs (Registration number: 06577677) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets 13 1,868 2,800 Current a$ts Debtors Cash at bank and in hand 14 13.162 425.354 23.844 523.573 438.516 547.417 Credltors: Amounts falllng due withln one year 15 59.608 30,950 Net current assets 378.908 516,467 Net assets 380,776 519.267 Funds of tho charlty: Restricted income funds Restrlcted funds 199,497 328,376 Unrestrlcted income funds Unrestricted funds 181,279 190.891 Total funds 18 380.776 519.267 For the financial sear 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, ponsIbIlItIes. The members have not required the charity to obtain an audit of its accounts for the year in question in accordan with section 476; and The directors acknowledge their responsibilities for complyng with the requirements of the Act bwth respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance WFlh th8 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 10 to 28 were approved by the trustees. and authorised for issue on 131.IAI*Wand signed on their behalf by. MrsSALaw Trustee J Uryderwood Company Secretary and Trustee The notes on pages 13 to 28 fomi an integral part of these financial ststements. Pag811
Trvs Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Cash flows from operating actlvltles Net cash (expenditureyincome Adjustments to cash flows from nonwcash Items Depreaation Investment income (138,491) 73,367 932 9,812 243 3,253 (147,371) 70.357 Working capltal adjustments Decrease in debtors {Decrease)fincrease in creditors Increase in defeffed income 14 15 10,682 (2,517) 31.175 28.767 7.182 2,187 Net cash flows from operating activities 108,031) 108,493 Cash flows from Investlng activltles Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investing actlvities Net (decrease)fincrease in cash and cash equivalents Cash and cash equivalents at 1 AFYil Cash and cash equtvalents at 31 March 9,812 3,253 734 13 9.812 2,519 (98,219) 523,573 111,012 412,561 425.354 523,573 All of the cash flows are derived from continuing operations during the above two perTrods. The notes on pages 13 to 28 forni an integral part of these financial statements. Page 12
Trvs Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity sLus The charity i8 limited by guardntse, 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 IM]UKlats'on. The address of its registered office is". 14 Bridgeland Street Bideford Devon EX39 2QE 2 Accountlng policles Summary of significant accounting policies and key acGountlng estimates The principal accounting policies applied in the preparation of these financial statements are $8t out below. These policies have been consistently applied to all the >Ears presented, unless othepvise stated. Statement of compllance 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)) (issued in October 2019) - (Charities SORP (FRS 102)). the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 8asls of preparation Tfvs meets the definition of a public benefii entlty und8r FRS 102. Ass8ts and liabiliti8s are initially recognised at historical cost or transadion value unless otherwise ststed In the relevant accounting policy notes. The financial ststements are prepared in sterling, which is the functional currency of Ihe entity. Going concem The trustees consTrder that Ihere are no material uncertainties about the charitys ability to continue as a going concern nor any significant ar8as of uncertainty that affect the carrying value of assets held by the charity. Judgements The preparadon of the flnancial 5tateTnents tequifes management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the Clrcumstsns. Accounting estimates and assumptions are made conceming the future and. by there rrdture. wlll rarely equal the related aGlual outcome. Pag8 13
Trvs Notes to the Financial Statements for the Year Ended 31 March 2024 Incomo and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income wi15 be received and the amount of the income receivable can be measured reliably. Donatlons and legacies Donations are recognised when the charity has been nottfied in WTiting 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 entided to the funds, the income is deferred and not recconised until either those conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity and il 15 probable that these omditions will be fuffilled in the reportlng period. Deferred Income Deferred income represents amounts receNed for future periods and is released to incoming resources in the period for which. it has been received. Such income is only deferred when: - The donor spectfies that the grant or donation must onty be used in future accounting periods. or The donor has imposed condibons which must be met before the chartty has unconditional entitlement. Expenditure All expenditure is recognised once there is alegal or (x>nstructive obligation to that expenditure. it is probable setuement is required and the amount can be measured reliably. All costs are allocated to the appliGable expendibjre 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 alILated on the basis of time spenL and depreciation charges allocated on the portion of the assefs use. Other support costs are allocated based on the spread of staff costs. Charltable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of Its activlties and ServIS for its beneficiaries. It indudes both costs that can be allocat8d directly to such activities and those costs of an indireGt nature necessary to support them. Support costs Support costs include central functions and have been alICated to acaivity cost Gategories on a basis Consistent with the use of sOUrCes, for example. albcating propety costs by fioor areas. or per capila, staff costs by the time spent and other costs by their usage. Taxatlon The charity considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meets the definttion of a charitable company for UK corporation tax purposes. Accordingly, the charty is potentially exempt from taXatn 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 gain5 are applied exclusivety to tharitable purposes. Page 14
Trvs Notes to the Financial Statements for the Year Ended 31 March 2024 Tanglble flxed assets Individual fixed assets are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclatlon and arnortlsation Depreaation is provided on tsngible fixed assets so as to write off the cost or valuation. less any estlmated r8sidual value. over Iheir expected useful economic life as foll0v. Asset class Fixtures & Fittings IT Equipment Other EquiFYnent Depreciatlon method and rate 15% reduang balance 33.33% reducing balance 25% reducing balance Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deSIts. and other short-temi highly liquid investments that are readily nVertible to a known amount of cash and are subject to an inslgnificant risk of change in value. Borrowings Interest-bearing boongS are inittally recorded at fair value. net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised COSL Wtth the dIffenCe beeen the proceeds, net of transaction costs. and the amount due on redemption being recognised as a dlarge to the Statement of Finanaal Adivrties over the period of the relevant born)wing. Interest expense is recognised on the basis of the effective interest melhod and is induded in interest payable and similar charges. Borrowings are classifi8d as current liabilities unl8ss the charity has an unconditional right to defer settlement of the liabilty for at least iwelve months 8fter the reporting date. Fund structure Unrestricted income fijnds are general funds that are avallable for use at the trustees discretion in furtherance of the objectives of the diartty. Designated funds are unrestricted furKls set aside for specific purposes at the discretion of the trustees. 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. Page 15
Trvs Notes to the Financial Statements for the Year Ended 31 March 2024 Pensions and other post retirement obllgations Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extenl that the prepayThent will lead to a reduction in fvtur8 payments or a Gash refund. When contributions are not expected to be settled wholty within 12 months of the end of the reporting date in which the employEes render the related service. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period In which it arises. Flnancial instruments ClassKlcatlon Financial assets and financial liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are dassified aCcding 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 liabl1rt. Recognltlon and measuremnt All financial assets and liabilities are initially measured at transaction price (induding transaction costs). except for those financial assets dassified as at fair value through profit or loss. which are initially MeaSud at fair value (which Is normally the transaction price excluding transaction costs), unless the arrangement constitules 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 enforce8te right to set off the recognised amounts and the charity intends either to setde on a net basis, or to realise the asset and setde the liability simultaneously. Finanoal assets are derecognised when arKI onty when a) the contractual rights to the cash flows from the financial asset expire or are settled. b) the tharity transfers io another party substantially all of the risks and rewards of ownership of the finanaal asset. or c) the charity, despite having retained some. but not all, signifiGant risks and rewards of ownership, has transferr8d control of th8 asset to another party. Financial liabilrties are derecognised only when the oblallOn specified in the contract is discharged, cancelled or expires. Page 16
TTVS Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donatlons and legacles Unrestrfct funds General Restrlcted fund$ Total 2024 Donations and legacies: Donations 1.872 24,626 26,498 1.872 24,626 26.498 UnrestriGted funds General Restrictsd fiinds Totsl 2023 Donations and legacies; Donations 2.282 16,881 19.163 2.282 16.881 19.163 4 Income from charllable activitios Unrestricted funds General Restricted funds Total 2024 Services provided for beneficiaries Management recharges Accommodation rechar9es General Grant income Miscellaneous income 1.067 43.714 7.486 52.114 32.345 188.483 189,550 43.714 7,486 227,575 32.345 175.461 136,726 363,944 500,670 Unrestricted funds General Restrlcted funds Totsl 2023 Services provided for beneficiaries Management recharges Accommodation recharges General Grant income Miscellaneous income 1,115 62.191 5.846 72,428 21,388 157,030 (1.160) 158.145 61,031 5,846 550,650 21.388 478.222 162.968 634,092 797.060 Page 17
rrvs Notes to the Financial Statements for the Year Ended 31 March 2024 5 Invostment Incom• Unrestrlcted funds General Total 2024 Interest receivable and similar income", Int8rest receivable on bank deposits 9,812 9,812 9,812 9.812 Unrestricted funds General Total 2023 Interest receivable and similar income: Interest receivable on bank deposits 3,253 3,253 3.253 3.253 6 Expendituro on charltablo activltles Unrestrlcted funds General Restrlcted funds Total 2024 Note Projects Allocated support cosls 2,621 166,003 428.804 78.043 431.425 244.046 168.624 506,847 675,471 Unrestrlcted funds General Restrlcted funds Total 2023 Not• Projects Allocated support costs 41,180 134,212 484,072 86,645 525.252 220.857 175,392 570,717 746,109 Page 18
Trvs Notes to the Financial Ststements forthe Year Ended 31 March 2024 7 Analysis of support costs Charltable actlvltles expendlture Unrestrlcted funds General Restricted fvnds Totsl 2024 Total 2023 Wages arKI Salaries Motor and Travel Audit fees Other Office costs Depreciation Bank charges Staff Training Management fees 135.115 692 2,069 25.215 932 232 265 135,115 7.417 2,069 51,382 932 1,028 1,226 44.877 117.559 1,923 3,9 32,777 243 910 6.145 57.310 220.857 6,725 26.167 796 961 43.394 78.043 166.003 244.046 8 Net Incomlngloutgolng resources Net {outgoing)fincoming resources for the year indude: 2024 2023 Depreciation of fixed assets 932 243 9 Trustees remuneratlon arKI •xp•ns•s No trustees, nor any persons connected them. have received any remuneratK)n from the charity during the year. No trustees have received any reirnbursed expenses from the chaiity during the )ear. Pag8 19
Trvs Notes to the Flnancial Ststements for the Year Ended 31 March 2024 10 Staff costs The aggregate payroll (x>sts were as follows: 2024 2023 Staff costs durlng the year were: Wages arKI salarfes Social security costs Pension costs 450.420 19,576 11,159 463.795 24.335 10,857 498.987 481,155 The monthly average number of persons (including senior management I leadership team) employed by the Gharty during the yEar was as follows: 2024 No 35 2023 No 35 Employees No employee received emoluments of more than £60.000 during the yBar. 11 Indepondent •xamlnerfs rnmuneratlon 2024 2023 Independent examination fees 2,069 3.990 12 Taxation The charty is a registered charity and is thereth exempt from taxation. Page 20
Trvs Notes to the Financlal Statements for the Year Ended 31 March 2024 13 Tanglble flxed assets Fumlturn and •qulpment Total Cost At 1 April 2023 5.787 5,787 At 31 March 2024 5,787 5,787 Depreclatlon At 1 Aprll 2023 Charge for the year At 31 March 2024 2.987 932 2.987 932 3,919 3.919 Net book value At 31 March 2024 1.868 1,868 At 31 March 2023 2.800 14 Debtors 2024 2023 Trade debtors prepaents 12,113 1,049 20.243 3,601 23.844 13,162 Page 21
Trvs Notes to the Financial Statements for the Year Ended 31 March 2024 IS Credltors: amounts falllng due wlthln one yoar 2024 2023 Trade creditor5 Other taxation and social security other Creditors Accruals Deferred income 1.427 16,217 2,187 6,415 33.362 5.649 18.537 4,577 2,187 30,950 59.608 2024 2023 Deferred income at 1 April 2023 Resources deferred in th8 pericKI Arnounts released from previous periods 2,187 33,362 2,187 2.187 Deferred income at year end 33,362 2,187 16 Obllgatlons under leases and hlre purchase contracts The total value of future minimum lease payments was as folkwts: 2024 2023 Within one yEar In Iwo to five yeafs 9.000 11,250 9,000 20.250 20.250 29.250 17 Pension and other schomes Defln•d contrlbutlon pension s¢hem• The charty operates a defined cx)ntribution pension schème. The pension cosl charge for the year represents contributions payable by the charity to the scherne and amounted to £11.129 (2023 £10.857). Page 22
Trvs Notes to the Financial Ststements forthe Year Ended 31 March 2024 18 Funds Balance at 1 Aprll Incoming Resources 2023 resources expended Balance at 31 March 2024 Transfers Unrestrlct•d funds General General Fund 13,402 148.410 (168.624) 14,432 7.620 Deslgnated Designated Fur)d 177.489 (3,830 173.659 Total unrestricted funds 190.891 148,410 168.624 10,602 181.279 Restricted funds MA Time 4 Me (Awards for All) Young Carers Connected Bright Futures - Other fvAatched Funding COMF Community Developers CVS - Local DWP Youth Flow Project Financial Inclusion Project Help at home expansion Settle and Support Memory Cafe - Northam Memory Cafe - Bideford One Northem Devon Bideford Upbeat Project - Bfight Futures SRIL - Holsworthy SRIL- Winkleigh Tai Chi TorrAGE Active and Connected TorrAGE Wdl Leg Groups TorrAGE Torrington 100 TorrAGE Help at Home Carers Lunch Scheme Memory Cafe Library Fund 6.752 36,601 6,752 43,614 93.233 {86,220) 750 9.535 34.171 1.621 6.826 52.599 64,527 49,185 3,422 975 750 (1.S44) (61,220) (1,385) (6.826) (47.170) (67.139) (26.803) (2.397) (2,471) {7,991) (2,157) 32,272 1.555 3,066 1,791 10.491 16.730 15.920 14.118 22.382 4.482 2.408 3.457 19,637 (354) 19.283 2,609 357 263 2.624 (2,609) (4) 5.586 3.663 5.496 (5.939) (3.928) (3.080) 5,040 9.330 10,382 134 16,076 11.565 (16.505) 4,390 10,382 134 29,480 4.650 171,853 2.560 (158.449) (67) 2.157 100 100 Page 23
TTVS Notes to the Financial Statements forthe Year Ended 31 March 2024 Balance at Balance at 31 March 2024 Incoming Resources resources expended 2023 Transfers Mediation Group Social Enterprise Training Know your Neighbour Creative Lives (Kyn Fund) 40 6,880 14.195 {31) (6.910) (7,556) 853 (30) 6.639 4.137 328.376 388.570 199.497 506.847 10.602 Total funds 519.267 536,980 675.471 380,776 Balance at 1 Aprll 2022 Balance at 31 March 2023 Incomlng Resour• resources expended Transfers Unrestrlcted funds General General Fund 22,432 168.503 (175.392) (2,141) 13,402 Designatsd Designated Fund Total unrestrlcted funds 175,348 2,141 177.489 197.780 168,503 (175.392 190.891 Rostricted funds A4A Tim8 4 Me (Awards for All) Young Carers Connected Bright Futures - Other Matched Funding Carewise - Donations Carewise Young Carers Engagement Project COMF Community Developers Cosmic Project Velocity CVS - Local DWP Youth Flow Project Financial Indusion Project Help at home expansion Settle and sUprt Memory Cafe - Northam Memory Cafe - Bideford One Northem Devon Bideford 6,752 20.854 6,752 36.601 74,183 (61.447) 3,011 750 750 {94) 2.598 3.462 (2.598) (1.680) 7.753 77,194 136.180 1.147 9.535 34,171 (43.023) (141.180) (287) 5,000 761 6.826 59.454 1.621 6.826 52,599 64,527 49,185 3.422 975 41.858 80.803 25,000 3.308 1,772 (48.713) (16,276) {26,662) (3,888) (4.150) 50,847 4,002 3.353 19,637 19.637 Page 24
rrvs Notes to the Flnancial Statements for the Year Ended 31 March 2024 Balance at 1 Aprll 2022 Balance at 31 March 2023 Incornlng Resources resources expended Transfers One Northem Devon Holsworthy Upbeat Project- BrwJht Futures SRIL- Hsyrthy SRIL- Winkleigh Tai Chi Time to Shine TorrAGE Active and Connected TorrAGE Well Leg Groups TorrAGE Torrington 1(M) TorrAGE Help at Hom8 Torrldge PCN 1.088 (1.088) 939 652 708 1.193 7,650 2,609 357 263 2.624 7.473 7.440 3.359 9,382 (7,768) (7.885) (1.928) {17,032) 10,884 10,382 1.054 29.167 13 11,565 (13.119) 9.330 10.382 134 16.076 {5.870) (170.388) (13) 570,717 157,297 248,120 650,973 328.376 Total funds 445.900 819,476 746.109 519.267 The specific purposes for which the funds are to be applTred are as follows: Unrestricted funds are held by the Charity that a freely available to spend on any of the charitys purposes. Designated funds conslst of a provision at a level deemed appropriate by the Trustees with reference to the Charltys ReseNes Policy document which is detailed in thè Trustees Report. Page 25
Ttvs Notes to the Flnancial Statements for the Year Ended 31 March 2024 Restrlcted funds Setue and Support (Help at Home) - Grant from One Northem Devon to provide volunteer based support for patients discharged from IN)SPital. COMF- Proiecl finished funds mowrvJ to unrestricted in 2024. Memory Cafe Northam Dementia - To support poepl8 wth dementia. and thelr families. carers ar)d fn'ends. A4a Tlme for Me {Awards for all) - Funding extension to supp(Kt Joung carers under 18 in conjunction with the Carwfyise project. Bright FLrtures - Independent fvnding left, to support young person with driviTVJ lessons, being taken up in 2024. Financial Indusion - a project suppcxting older people in Bideford and the surroundlng area so that they can a¢¢ess relevant infomiation. maximise their income (through benefits and grants and re1ve practical support. TorrAGE - Help at Home - Supporting independent living. SRIL Winkleigh - partnership project with Winkleigh Society funded by Awards for All to encourage more people living with dementia (and their carers) to attend the Forget-M&Not Friends group and to develop an inf¢)nnation hub for over 65's. One Norlhem Devon Comrn Devs - Grdnt from One Nothem Devon to support communities in Holsworthy. Torrington and Bideford. BuildirvJ Capabiliti8s Bright Futures - Fun(fing to supp1 rrvs building pabilitIeS in the future. Memory Cafe - 8ideford - To support people with dementia. and their familles. carers and friends. SRIL - Holsworth Memory Cafe - on8 year partnership project with Ihe Holsworthy Forget-me-Not Friends Group. Young Carers Connected - Providing support for yDung carers and their families. TotrAGE Actswty Clubs - Tai Chi self furKled to support older people with an activty. Community Developers - Grant from One Northem Devon to support communities in Holsworthy, Torrington and Bideford. DWP Youth Flow Project - a wllatx)ration ben DWP. Encompass. OND and TTVS aimed at placing young people into work place opportunlts'es. Page 26
Trvs Notss to the Financial Statements for the Year Ended 31 March 2024 TorrAGE Active and Connected - Ageing Well providing a rarvJe of services for older people induding befriending, social activities, gentle exercise, volunterriNJ opportunities. informal advocacy and infomiation for those most in need. TooAge Well Legs group - Natlonal Lottery left over funds still to be moved to unrestricted funds. T100 - funding to develop the community in Torrington. Help at Home Expansion - Grant from One Northern Devon to provide expansion into North Devon for Help at Hom8 sepiios and financial indusion. Know your NeIghboUrtod - Grant from Crealive Lives to provide creative groups in the community, volunteer led. 19 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed a&8ets Current assets Current liabilities 1.868 239.019 59,608 1,868 438,516 59,608 199,497 Total net assets 181.279 199.497 380.776 Unrnstrlct•d funds Gon•ral Total funds at 31 March 2023 Restrlcted funds Tangible fixed assets Current assets Current liabilities 2,800 547.417 30,950 219.041 30.950 328.376 Total net assets 19).891 328,376 519.267 Page 27
Trvs Notes to the Financlal Statements for the Year Ended 31 March 2024 20 Related party transactlons Various trustees of the Charity are also representatives of organisations vhK) are members of Trvs. These organisations pay membership subscriptions to the Charity but receive membershlp benefits on the same terms as other membership organisations. It is the Charitys pollcy that representatives of membership organisations that provide substantial funding to Tfvs shall not be eligibkg to vote at general meetings and as such these transactions are not disdosed as a related paty. Page 28