C(xnpany registr**)n number. (W16TI Charity registrat￿ number. 1125142 rrvs (A company limtsj ty gJar8rteo) forts Yew Ermled 31 Mwch 2025 WESTCOTTS CHAN7tItlD A¢¢OVNTAIIT5 Contents Reference and Administrative Details Truste8s R8POrt 2to9 Independent Examinerfs Rewt 10 Staternent of Fin8￿ClaI Acti¥ikn 11 Balance Sheet 12 Statement of Cash Fkv 13 Notes to the Financial Ststements 14to29 Trvs Roference and Administrative Details Trustees: MrsSAL Mr R Shansolahi (resigned 7 Auwst 2024) Mr N J UndeNK Mr M Teare Mrs M Harding. (resign￿ 16 October 2024) Mrs R A Clarke (restr3ned 11 June 2024) Mr M Deaton Mr G Cusi¢k S•cr•tsry Mr N J Undem Chaflty Rogl8tratlon Numb•r 1125142 C¢Jfflpany Reglstratlon Number ￿5T1671 14 8rKlg81and Street Bkyeford EX39 2QE Westcotts (SW) LLP Ind•pondent Examlnor EX311SQ Page 1 Trvs Trustoes Report The trustees, who are directors ft)r Ihe purposes of company Iw. present the annual rewrt together wtth the financial statements of th? tharitable company for the yew ended 31 March 2025. Structur81 governance, and managgment Tfvs is a company Krnited by guar*rtee {nurnber 085T167n a registered charky (number 1125142) with an area of benefrt includes bth Torridge and North Devon. Memberyd indude representstives from k)cal voluntary and communty woups and statutory agencw across Northem Devon. although our current Couwl for Voluntsry Services {CVS) membership is primarily focused in T(KrKlge. TNS provides cwrdinates vcqunteering q)p(￿￿n1IieS thr(￿gI￿>vE Torr*e. arKI during this reporting period we have registered 94 volunteers through our Volunteer Centre. This number ¢an be broken down as folltrws". 94 volunteers actNe during this reporting period 33 volunteer applicarrts came to us looking for volunteer opportunities 7 applications came from the job centre tsob club) of vknich 1 applcant vrd5 placed with a kKal organisation 24 vdunteers have ￿￿￿teered wilhin Hol$￿vrthY Cunmunty Devekynent 5 volunteers have VOI￿rteered Financtal Inthsion 20 volunteers have volunteered wilh tyJr Befriendirg prcyect 11 volunteers have volunleerEd wlth our Memory Cafes. 4 volunteer5 have volunteered SUPFJ(XtiTrJ within rrvs office 1 volunteer has led (yjr Tai Chi class The Ttvs Brjard of Directors has overall responsibilty for the managemerrt and development of the organisation. A Finance Subgroup meets on a quart8rty basis to deal with any oryanisational finance issues, and an Admin sUb9￿p *so meets quarterty and deals wfing staff, insurance. the roles, and responsibilitss of Trustees etc. Brokerage . referring arKI signpostt'TrJ cltents to ¥propri* %dunt*y wJanisatw)ns. Advice Infomation - prowding rnonthly &buNetins on matters arrJund lunding and training as well as being ￿$sIble for any Fneral erNuiries. Training- providing tra#iing, such as accredled Emergw First or synpc&8ting local groups to training opportunities Z Uaison Building ktal networks and ensuring that the needs arml viwa of the voluntsry Sector are represented to funders, loca authortttes, statutory bodies etc. Partnershlps As an infrastructure ¢)rganwtion. ￿ befmp that wothing in pwtnersh¥J is crucial to supporting our commLmities. W8 a number of diff•r8nt wtnerships rBngiro from k)cal and regional authoribes through to the NHS, One Northern Devon. We also th wkh a number of different VCSE Org￿lsatIo￿ such as North Volurrtary Services (NDVS), De￿ Voluntsry Acton (DeVA), Active De￿￿. Encompass. Mid Devon Carers and Citiz￿$ AdV￿e Torridge, North. West and Devon. strateg￿ patherships are constanty evdwng. and are WOTkrng as part of a wider group to integrate the voluntary and public sect(xs across Northem Devcm and the wNJer county. DeVdOpv￿ multi agency approaches to Idents[￿ng nee￿gapS in provision and then developing I￿al solut*)ns such as TP4S carers and ¢)Ider people support wo Voluntserlng The Vdunteer Centre (VC) is a core fundion of Tfvs. The VC r6 a nationalty accredited Volunteer Centre and activits￿ indude: Brokerage: . matching vdunteern to ¢w￿tunitieS PronM)ting Devon Connect Marketing voluntwing Devebping volunteering opp(xtuni Policy response and campaigning Strategic developnent of volunteering DdNery of vO￿nteer led prc4eds such as h*ing people horne from hospital. rrvs ts an accredrf(ed Volunteer Centre and a member of the Nationd Ass¢xIat￿)n for Voluntsry &vJ Ccrfnmunty Adion {NAVCA) arKI The Nath)nal COU￿11 for Voluntary Organisations (NCVO). Pag8 5 Trvs Trustses Report Tackllng Health Inequalillos We want to advocate for change ond lack18 heanh In￿ualties for the people and communities we support." Memory &*s: supporting carers and their cared are experienaNJ rnemory problems or dementia and v**￿ Itb* in ar￿ThJ North*n arKI Bid6ford. Young Carers Connecled.. a parthersh¥J programme With Citizens Advtt Torridge, Pknrth. West and Devon to support young carers aged &24 and thair f￿1￿05 to gain skills, confidence and impTh kn chances. Financial Inclusion: a y￿￿S￿Shed project $UFVOrting older people in the BYJeford and surroundirKJ area to access aNI darn beneffts and grants to whKth they ¥e entilled. Bthnding: reducing isolation arKI knneli￿ through befriending 14ome Fire Sthty Visits.. a partnership V4ith Devon and Somer58t Fire and R8scue. service airned at increasing the number of fire prevention visits for those at hrgher ris Flnanclal r•vlew Chervlow of th• y The year to 31st March 2025 Tfvs's global income decrease by £29.983 from £536,980 to £5[￿,967. or this income. 41.6% (£210.736) was restric￿ and Utili￿ to direclty support Thvs projects. The restricted ratio to total income is Signific￿ decreased 2024 as the income genevated frijm He￿ at Home Unrestri￿ dunng 2025. Total expendkure in the same pwi(xl decrea*l by 10.8% over the previous ￿al frcfn £675,471 to £602,319. The Fry￿ElOn of Oxpendiiure on supported projects vrds 45.0% of the tthl sperKI. The total funds reduced by £95,352 by the yaar end and at 31st March totalled £285,424. Tfvs has remakned within the parameteTr sel by ts Reserves Policy and ends this current year 7Afjth the provisions designated by the Policy in p*e. The Tntstees are therefore confKlent that this level of financial prudence both past and present will hokl the Charity in good stead to face the inevitatrAe and additional challenges ahead brought on by recent gkl)al and politscat uncertainty. Incomo Restn"cted income (as defirwj by Accounting Polkies V￿thin th8 N(Ae8 to the Fnancial Statements): The restricted incoma totalled £210,736 c(¥npared to £388,570 in the previ(Jus financial year. d￿rea$a of £177,834. Unrestricted incc*ne (as defined by Accounting Policles wilhin the Notes to the Financial Statements)." Unre5tr1cted fundlrvJ Increased by £147.821 m the 2fT24f25 financial ￿ to £296,231, in the year Ixing rep(xted. The m?4onty of the wicr8ase relates to Ihe additional Help * Home income. Expenditurn Totsl expenditure for the spar amounted to £602.319. a decr￿ against a value of £675.471 the previous year. Restricied expenditure (as defir￿d by AccountiThJ PdKies within the Notes to th8 Financial Statemerts)". Page 6 rrvs Trustees Report Restricted spend decre￿ fr(￿ £506,847 in 202￿4 to £271,238 in 21Y24r25, a decrease of £235.609. Unregtricted ￿)eT￿litUra (as t*qfined by AcAywnting POIc￿ within tha N(*es to the Financial Statements): Expenditure on core costs increased frown £168.624 in 21y2&r24 to £331,081. ￿ irwease of £162,457. Funds of the Charfty The unrestricted reserves n¢)w stsrKI at £190.331. frcrn £181.279. Of this total, £177,120 is set aside as designated funds by the Trustees to (xmr wjanwtional costs. increa￿1 fr￿n £173,659 We have decreased the desigrwted fund to reflect true running costs ft>r 6 months and have also contingency costs for telw)hone system and phclwiier lease. In line, have increase our general fund to £13.211. Tho rrvs Reserves P(*ty is aYalBble by contacting the Finance m￿ager on 01237 420146 (* by email VA the Tfvs website https:IlvAtsw.torridgecvs.cYg.uk The remainiTrJ £13.211 (rf urK*nated Unrestri￿ fvnds at 31 March 2025 is available to provlde financi￿ reassurance in the event of unpr￿￿10ntad or unforew circwnstances. Tfvs managed restrid&l funds totaling £95,093 at ts WKI of the 2024r25 financial ye Statement of Publlc Benefit Principle 1: There must be an tdentlfiable benefft or beneffts. la It must be c￿r wl)at the ben* are (to the publ￿} As out11￿d in the 2024r25 Th Annual Report all rnIS aL*vty - whether supporting the health. strength. and deveb)wnent of the voluntary aThJ communty $￿tOr through infrastructure support or by provlding direct services to groups or indi4idu* in need of h* when an unfflet t)eed has been identified - is for benefrt of the pthlic. 1b The beneffts must be related to the aims of the Organisa￿n. The benefits provided by TPIS to voluntary and communty groups. volunteers. carers, c4Jer people, and people experienong mentsl health drffiuthies as detsiled in our 2024r25 ReporL cleady meet our Obj'ects arKI the Statement crf Purpose arKI Core Vahm ojtlined in this d(Kumerrt. 1c Beneffts must be balJKed agairtst wy ddrimant or ham We wn all services to tha hifvt stsndard arKI in with rcbjst p)licies g￿eMing staff employThent and support., finanGial manag￿￿7t volunteer managernentr, ¢hikl prot¢¢tion: vulnerabl¢ adult protectffi and health and safety. Prinople 2." Benefit must b8 to the pubk. or section of the publi 2a The beneficiaries must be appropriate to the aims. Our beneficiaries are NYAun* arKI C￿￿MUnty ory￿ls811ons. volunteers. c8reTS. ￿Ung carws, older people and groups or individuals in need of support where unmet need is identified. Beneficiaries are appropriate to wr Objects, stat￿nI of Purpose. and Core Vahjes. Page 7 rnis Trustees Report 2b Where benefrt is to a section of the public, the opp(x￿l¥ty ts benofft must Trjt be unreasonabty restiicted: TTVS 5eTrices are open to all relevart groups and individuals vthin N(xthem Devon - thè Charivs main area ot tw￿rt-antt ￿ have a r(knist Equalty and Diversity wky. 2¢ Any private benefits must be h1cidenL￿. All Directors give of their tune freety and minimal remuneratK)n or expenses were paid in the ￿r. No Director or peTron connected with a Diredor receNed any benefft from the charity. stat￿nt of respongibilitles (within Tru8taes Report) The Irustses {wtho are also the directcffs ￿ rrvs for the purposes of cornpany l&Y) are responsible for preparing the financial statoments in accordance *ith wplicable Lqw and United ￿'ngdoM Accounting St￿dards (United lQngd(Mn Generalty Accept￿ Accounting Pr*ice). incluthng FRS 102 he Financial Reporting Standard appI￿able in the UK Republ￿ of Ireland,. The report and accounts have been prepared in accordance with the prowsions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under ¢ompany law the trustees must rK)t approve the financial staternents unless they are satisfied that they give a true and f&r Vi￿ of the state of afPairs of the charitable company and ot the incomiThJ resources and application of resources, inthding ts income and expenditure. of the chaTilable company for that peri¢)S. In preparing these financid stat￿nents, the trustees ale required to: select suitable accounting policies and appty them consistenty,. obsep4e the methods arKI principles in the Charities SORP: make judgements and estimates that are reasonable and prLthn(' sL*e whether applicable accounting standards. c(ryrising FRS 11y2 have been folkywed, subject to ary materld departures dIs¢k)S￿ and explained in the financial statern￿ts: and prepare the ffinancial statements on the g)ing concem basis unl8ss l is in4)prq>riate to presume that th8 charitable ccvnpany wll conttnue in business. The trustees are responsible for keeping proper accounting records that can drsclose with reasonable curacy at any time the financial position of Ihe charttable company and enable them to ensure that the financial statements comply with the compan￿ Aci 2CKN8. They are also responsible for Safeguarding the assets of the charitable C￿1pary arKI hence for tak￿g reasonabl8 Steps for the preventlon and detection of fraud and dher irregularities. The trust88s af8 responsible for the maintenance arHI integrity c( th6 corporate and financial informalion included on the charitatrAe companses website. Legislation gob?ming the preparation and dissemination of financial 5tatemerrts may differ from legislation in other jurisd￿lanS. Gornpanles prvvlslon stateme This report has been prepared in acconlance wtth the smdl cortwanies regimo und8r the Cornpanios Act 21M. Page 8 Trustees Report The annual rewt was aFvfDved by the Irustees of the charity on IS: 10 :2S. and signed on ts behaw ty. ALaw N J UndeTryood P•38 9 rrvs Independent Examinerfs Report to the trustees of Tfvs ('the Compan￿1 I report to the ¢harity trustees on my examination ￿ the &counts of the C(¥npany for the y8ar ended 31 March 2025. Responsibllilies and ￿1$ of report A6 the chwty's trustees of the Ccfflpany (and also ts diredors for the purF#)ses of COmp￿Y lav) are responsible for the preparath)n of Ihe accounts in am)rdarKe with the requirenpnts of Ihe Companies Act 21J06 ('the 2006 Act.). Hawng satisfied myseir that the accounts of the c￿1panY are not requir&J to be audrted urbder Part 16 of the 2006 Act and arè dKJibie for independent examination. I report in resr*d of ffly examination of ycwr charity's accounts as carried (xrt under section 145 of the Charities Act 2011 2011 Act,). In carrying out my examination I have folkhved the Direction$ gNen ty the Charity Commission under sectvjn 14515){b) of the 2011 Act. Independent •xaminerfs Statement sin￿ the Companls gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Ad. I confimi that l am qualified to undertake the examination because l orn a member of , is one of the listed bodies. I have completed my exanwnation. I c(xffimi that no matters have come to my attention in connedK ryth the •xamin*ron me cause to believe: 1. 8(wunling records were not kept in respect of Tfvs as requyed by section 386 of the 2006 Acl", 2. the accounts do not accord with those teconls; or 3. the accounts do not comply with accounting requirements ￿ section 396 of the 2008 Act other than any requirement that the accounts give a and fair whth is not a matter considered as part of an iridependent examination: ¢x 4. the accounts have n(* been pr￿￿ed in aCCordar￿e with the meth(th prinwles of the Statement of Recommended Practu for accounting and rwrting by Charit￿ lapplicable to charities preparing their accourts in xcordm wryth the Financid Reportirwj Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across other matters in connection the examinath?n to wh￿h attentM)n should be dravm in thi8 repr￿1 in order to enable a proper understanding of the accounts to be r8ached. Catherine Winwi5 FCA DChA lThJependent Exainiwivr Westcotts (SW) LLP 47 Botrtport Street Barnstsp EX311SQ Page 10 rrvs ststement of Financial Activltles for the Year Ended 31 March 2025 (Includlng Income and Expenditura Account and Statsment of Total Recognlsed Galns and Losses) Total 2Q25 Total 2024 funds funds Note Incorne and Endowments from: DonatK)ns and legaaes Charitable activities Investrnent income 6.042 276,728 13.461 12,135 481.371 13,461 26,498 5(Kl.670 9,812 204.643 Totsl income 296.231 210,736 506,%7 Expendllure on: ctwitable activit (331,081 (271.2381 602,319 (875,471 Total expenditure Net expenditure Transfers belween funds 331.081 (271,238 602,319 675.471 (34,850) (60,502) (95.352) (138,491) Net movement in funds 9.052 (104.404) (95,3521 {138.491) Roconclllatlon of funds Total funds brought forward Totsl funds carried forward 16 181.279 199,497 3BO.Tt6 519,267 190,331 95.093 285.424 380.776 All of the charity's activbtFes derive from continuiry cwatms dufing the above two p￿10d5. The funds breakd¢M for 2024 k8 sh(￿ in 16. The notes on pages 14 to 29 fom an integral part of these financial statements. Page 11 TTVS (Registration number: 06577677) Balance Sheot as at 31 March 2025 2026 Flxed assets Tangible assets Current as88ts Debtors Cash at bank and in har*J 13 1.248 1.868 14 21,221 447,TlO 13.162 425,354 438,516 59,608 468.991 Credltors: Amounts falllng due wlthln one year 15 184,813) 284,178 378.908 285.424 380.778 FurKls of the charlty: Rostrlctad Incom• funds Restrided funds 95,OW3 199.497 Unrestrlcted Income funds Unre6tricted funds 190,331 161.279 Totsl funds 16 285,424 380.776 For the ￿anCIal ending 31 March 2025 the charity was entilled to exanp￿n from audit under Section 471 of the CcKnPan￿S Act 2006 retating to small companies. Dlrectors, responsibilities: The members have not required the chanty to ¢J)tain an audit of its &c￿nIS for the y￿r in question in accordance V￿th section 476; and The dir￿tar$ acknowledge their responsibilities for cornptying with th8 requrements of the Act with respecl to accounting records and the preparation of accounts. These finan￿al statement8 have been wepared in xcordance with the special provisK)ns relating to companies subject to the STr￿11 cryanies regime within Part 15 of the Compani68 Act 2006. The financial statements on pages 11 to 29 were approved by the trustees. and authorised for issue IS-lo-z< on.................... and signed on their bdwlf ty. Mrsg*L Trustee J undep*￿d Secrdary arKI Trustse The notas on pages 14 to 29 form an integral part d these financial statements. Page 12 rrvs Statement of Cash Flows for tho Year Ended 31 March 2025 2026 2024 Cash flows from opwattng actlviti88 Net cash expenditure Adjustments to cash I1￿ from nonacash Items Depreciation Investment Income (95,352) (138.491) 22 13.461 932 9,812 (147,371) {108.1911 Worklng capltal adjustments (Increaseydecrease in debtors Decrease in creditors Increase in deferred incc*m8 14 15 (8,059) (1.433) 126,638 10,682 12,51n 31,175 {108,031) Cash Ilows from investkng actlvltles Interest recelvable and similar incwie 13,461 9.812 Nat incTeasel(decrease) in cash and cash equiv21&ts Cash cash equrlalents at 1 April 22.416 {98.219) 523.573 425,354 Cash and cash equiv*nts at 31 March 447,770 425.354 All ofthe cash are derr4pd from continuing operations during the above perbds. The nrtes on pages 14 to 29 fom an integral part of these finaKial statemwts. Page 13 TTVS Notos to the Financial Statements for the Year Ended 31 March 2025 1 Charlty status The charity is limited by guwarrte8. incorporated wi England and W*s. arKI consequently (k)es not have share rApital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of IKiuthh'on. The address of its registered ofte is: 14 Bridgeland Street Bideford Devon EX39 2QE 2 Accountlng pollcie Summary of slgnlfkant accountlng pollcies and kay accountlng ¢stlmatOS The principal accounting poliaes applied in the preparation of these financial statements are set out below. These policies have been conslstenlty appll8d to all the J*ars P￿sellted, unless otheThvise Statement of compllanc• The finanaal Statements have been prepared in accordance with Accounting and Rep)rting by Charities: Ststement of Recommended Practice {applicable to chart11￿ preparing their accounts in accordan￿ *ith the Financial ReportiThJ Stsndard applicable in the UK and Republic of Ireland {FRS 1021) (issued in Odi)ber 2019) - (Charit￿$ SORP (FRS 102)), ￿ Financial Reporting Standard appltcable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basls of preparatlon rnIS meets the definition of a pubfic benerrt entty under FRS 102. Assets and liabilities are initial recognised at historical cost or transaction value unk5s otherwise slated in the relevant accounting policy notes. The finanrAal statements are prep¥ed n Ste￿in1g. whth is the fundional currenry of th entty. Going concern The trustees consider that there are no matersal uncertainties about the chartys ab￿lty to continue as a going concem nor any swjnificant areas of uncertatnty that affed the canjfjng value of assets held by the chanty. Judgomont• The preparation of the financial statements requires management to ma(e judgements, estimates and assumptions that aff￿t the amourrts reported. These estimates and judgements are continually reviewed and are based ￿ experience and cther factors. including e>pedations of future events are believed to be reasonable under the circum5tancu. Accourrting estimates and assumptions are mad8 con(xrning the fvrture and, by there nature. wl rarety equal the related actual crtrtC(XT*. Page 14 Trvs Notss to the Flnanclal Statements for the Year Ended 31 March 2025 Income and endowments All in¢ome is rwnised once the tharity has entitlement to the income. * is prDbable that the incom8 wlll be recelved and the amounl of thp inGtxne l￿w¥able t7An bE t￿￿$u[￿l ieliabty. Donations are rects3nised when the charty been ncthd li wTiting of both the anount arKI settfement date. In the that a don&lon is subject to condthns that require a level of P8rformance by the chartty before the thaTity is entitled to the funds, the incom8 is deferred and not recognised until eiiher those condit*)ns are fully met, or the fuffilment of those conditions is w￿1 within the control of the charty and f( ￿ probable that these conditsons will be fvlfilled in the reporting perioj. Deferred income represents amounts received ts future peri¢)Js and is released to incoming resources in the period for whth, it has been re￿ived. Such income k8 only deferred when: - The donor specffies that the grant or donknn must onty be used in future acmunting periods., or The donor has EM￿ COndit￿￿S must be met before the charity has unconditional entitlemenL Expendlture All expenditure 15 recognised once Ihore is a legal or ¢x)nstructNe to that expenditure. it . probable settlement 15 required and the amount can be measured reliabty. All costs are allocated to the applic&Jle expenditure headiThJ that aggregate SI￿lar costs to that tstsgory. Where costs cannot be directly attributed to paiticular h&•Jings tt￿Y have been aknateAI on a basis consistent with the use of resources, with central staff costs allocated C￿ the basis of time spent, and depreciation charges alktated on the of the asseys use. Ott￿r support costs akKated based on the spread of staff costs. Charltable activitl•s ChwFtable expenditure comprises those costs incurred by the charrty in the dellvery of ts and seNices for its beneficiaries. tt includes both costs that can b8 allocated directty to such &tiwtw and those costs of an indirect nature n￿essary to support them. Support Costs Support costs indude central functlons and have been akKated to adv￿ cost categories on a basis consistent with the use of resources. for exarryle. aN￿￿1ng property costs by fk)or areas. or per capita. staff costs by the time and cther costs by their usage. Taxatlon The charity is ￿nSIdered to pass Ihe tests set out in Paragwh 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK COrporat￿)n tax wrposes. Accordingty, the chanty is potentralty exgry)t from taxatK)n in respect of income or capital gains received within categorles covered by ChaFtsr 3 Part 11 of the Corporation Tax Acl 2010 or Section 256 of the Taxatp)n of Chargeable Gans Ad 1992. to the extent Ihat s￿h income or gains are appl￿ exdusiv8ly to charitable purposes. Page 15 rrvs Notss to the Financial Statements for the Year Ended 31 March 2025 Tanglblè flxed assets Individual fixed assets are initialty record￿ at cost, less any subsequent accumulated depreciation and subsequent accumulated impainr*it kn)￿s. Depreclation and amorthallon Depreciatron is promded on tangible fixed assets so as to vKite (ffi th6 cost LY vabjaon, kn any estsmated residual value. ovef their expecaed useful economK lrfe as folkxs: Asset class F￿luTeS & Fittings IT Equipment Other Equipment Depreclatlon method and rate 15% reducing baLance 33.33% reducing balance 25% reducing balance Cash and cash equlvalents Cash and cash equivalents comprise cash cm hand and call deposits, arrtl other short-lem hiqhty liquKI investrnents that are r8adily c(xNertibl8 to a kncwn amount of cash and are subject to an inswnificant risk d change in value. Borrowings Inler85t-bearing borrowing8 are initsaly recorded at fair value. net of transactton costs. Interest-beartng borr(Mtngs are subsequenty catried * an0￿"Sed cost. wrth the drfference behyeen the proceeds, net of transaction costs, and the amount due on redernption being Tecogni8ed as charge to the Ststement of Financial Actiwties over the period of the relevant borr¢yMng. Interest expense is recogntsed on the basis ol the effe￿1￿ interest methoj and Is inthded in interest payable and similar charges. Borrowings are classified as current ￿abill￿ unless the charity has an uncon(*lional right to defer settlement of the liabli ity for at least iwth months after the reporting date. Fund structure Unrestricted income funds are genèral funds that are availth ts use at the trustees discret￿n in furtherance ofthe objectives of the chartty. Destgnated funds are unrestricted funds Set aside for speufic purposes at the discretw)n of the trustee& Restricted income fvnds are those donated for use in a part￿lar area or for specffic purposes, the use of vthich is restrictpAI to that area or purpose. Page 16 Trvs Notes to the Flnanclal Ststements for the Year Ended 31 March 2025 Penslons and other post retlrement obllgalions Contr￿utiOnS to defined contribution plans ar8 fecognised as an expense li the period in Nthich the related Ser¥￿e is provlded. Prepakl corrtrlbu1k￿S are rwniwj as an as¥vt tv the extent tlwt the prepayment will lead to a reduct*)n in future pajffnents or a cash refurKI. When contributions are not expected to be settled wholty within 12 months of the end of the reporting date ￿ vthiGh the ernployees render the related service. the liabilty is measured on a discounted present va￿e basrs. The unwinding of the discount is recognised as an ejpense in the period in which il arises. Flnanclal instrumonts Classificadon Financial assets and ffinancial liabllibes are recognised when the charity becom8s a paty to the contractual provisions of the instrumenL Financial liabilths and equty instrumerrts are classified according to the substance of the contractual arrangements entered into. An equty instrument is any cmtract that evidences a residual interest in the assets of the charty after deducting all of its liabilibes. RecOgnIdt￿ and measurement All financial assets and liabilrties are initialy measured at transaction pvice (including trans&ti¢Jn costs), except for those financial assets dassified as at fair value through profit or 105s. whKh are initialty measured at fair value (which is norTnalty the trdnsaction price excluding transaction costs), unless the arrangement constÈtutes a ffinancing transaction. If an a￿ang￿llent constitutes a ffinancing transaction, Ihe finanaal asset or financral liabilty is measured at the present value of the tuture payTnents discou￿ at a maket rala of intwest for a sirnilar debt instnlln Financial as8ets and liabilities are onty offset in the statern￿t of finan(xal position when. and onty when there exists a18galW enforceable rvJht to set off the r￿Qgnised amounts and the chaiity intends either to settle on a net basis. or to realise the asset and settle the liabilrty simumaneously. Financial assets are derecognised when and only when a) the contr*ual ri9hts to the cash flows from the financial asset expire or are settl8d. b} the charity transfers to another paty substantialty al of the risks and r&Yards of ownership of the financial asset, or e) the charity, despite having retsined some. but not al, synifi￿t risks and rewards of (r*nernhip. has transterred control of the asset to other party. Financial liabiltties are derecognised only wt￿1 the {￿l￿tIOn Spear￿ in the cortract is discharged. cancelled or expires. Page 17 Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from donatlons and legacles Unre3trkted funds General Total 2025 funds Donations and leg￿les. Donations 6,042 6.093 12,135 Unrestrfcted funds General funds 2024 Dor￿li0n$ and legacies., Donations 1,872 24.626 26.498 4 Income from ¢harftable actlvl Unrestricted funds General Total 2025 funds Services prowded for benefjciarEs Management ￿hargeS Accomm(yJation rechwges General Grant income Miscellaneous income 180,231 160,231 35,588 3.329 264.863 17,360 3.329 60,220 17,360 276.728 204,643 204,643 481.371 funds Genaral R89tricled funds Total 2024 Services provlded lor benefickiries Management recharges Accommodation recharges General Grant income Miscellang)us inccAne 188,483 189,550 43.714 43,714 52.114 175,481 227,575 32.345 500.670 136.726 363,944 Page 18 Trvs Notes to tho Financial Statements for the Year Ended 31 March 2025 5 Inve51rnent Incon Unrestricted fundg Gonoral Total 2025 Interest reLeiYable and similar income; Interest teceivable on bank deposits 13,461 13.461 Unrestrictod funds General Totsl 2024 Interest re￿￿8 and sinilar income: Interest re￿Vable on bank deposts 9.812 9,812 6 Expendlture on charftabl• activiti Unrestrlcted funds Genoral Rostricted funds Total 2025 Noto 162.1)01 169,080 228.109 43,129 271,238 390,110 212.209 All(￿ated support costs 331,081 602.319 Unrestrlcted funds General Tolal 2024 funds Projects Allocated support costs 2.K21 166.tM)3 428,804 78,1)43 ,847 431,425 244,046 168.624 675.471 Page 19 TTVS Notes to the Flnanclal Statsments for the Year Ended 31 March 2025 7 Anatysls of support costs Support costs allocated to ¢harltablo actlvllleg Total 2025 Total 2024 Wages arKI salaries Other office costs Depreciation Independent Examination fees Bank chargas Staff training Management fees 118,220 53,140 135,115 58,798 932 2,069 1,028 3,328 1,239 1.251 34.409 212,209 44,878 244,046 Net incoffllngloutgoing rosourcag Net (xrtgoing resources for the yw In￿. 2026 2024 Depreciation of fwl assets 622 932 9 Truste88 romunoratl¢)n and w•n888 during the year. No trustees have received any reimbursed exp￿SeS fr(xn the charity durng the year. Page 20 TTVS Notes to the Financial Ststements for tho Year Ended 31 March 2025 10 Slaff costs Th• •3gregato payToff et)sts w•re ag follNs: 2025 2024 Staff costs durlng the year wern: Wages and salaries Sc¢ial security costs Pension costs 416,140 18.658 10,202 445,000 450,420 19,576 11,159 481,155 The monthty average number of persons (induding senior management I leadership team} empbyed by the tharity during the year was as folkms: 2025 No 2024 Empbyees 35 No employee receNed emoluments of more than £60,000 duriig the year. 11 Independent examlnerfs remuneration 2025 2024 Independent examination fees 3.328 2,t%9 12 Taxatlon The charity is a registered tharity and therefore exempt from ta￿￿10￿. Page 21 TTVS Notes to the Financial Statements for the Year Ended 31 March 2025 13 Tanglble Ilxad assets Fumlture and 4yulpmont Total At 1 April 2024 At 31 March 2025 5.787 5.787 5.787 5,787 DeprnGlalion At 1 April 2024 Charge for the year At 31 March 2025 3,919 3.919 622 4.541 4.541 Not book vth• At 31 Marth 2025 1,246 1.246 At 31 March 2024 1,868 14 Debtorn 2025 2024 Trade debtors Prepayments Accrued income 17,393 994 2,834 12.113 21,221 13,162 Page 22 Trvs Notes to the Flnancial Statsments for the Year Ended 31 March 2025 15 Credltors: amounts Trdlllng due wlthln ono year 2025 2024 Trade crediiots other taxat[1￿ and S(￿la1 security other creditors Accrua Deferred income 2,778 13,443 1.427 16.217 2,187 6,415 33,362 59.608 8.592 160,0 184.813 2025 2024 Deferred incLYne at 1 April 2024 Resources deferred in the peiiod kniounts released frcmn previous periods Deferred income at year end 33.362 160.IJY) 33.￿2) 2,187 33,362 2,187 33.362 160.orxi Deferred incc4ne as at 31 Mwch 2025 consists of amounts received wi advance in resp&t of the Edward Gosling Deed. These funds are required to be released ￿nualty over the next 4 years. Page 23 rrvs Notss to the Flnancial Statements for the Year Ended 31 March 2025 16 Funds Balance at 1 April In¢oming Resources 2024 resour￿8 exp•ndod Transfers Balane• at 31 Mar¢h 2025 Unrestrlcted funds Generdl General Fund 7.620 296.231 {331.081) 40,441 13,211 Deslgnated Designated Fund 173,659 3,461 177,120 Total unrestrlcled funds 181.279 331.081) WJ6.231 ￿ 43.902 190.331 Restrkted lunds A4A Time 4 Me {Awdrds for All) Young Carers Connected Bright FubJres- Other Matched Funding FI Eth￿rd Gostling Foundation Deed Community Developers National Lottery Funding Communty Dgvd(yers CVS- Lexal Financial Indusion Project Help at home expansion Settle and Support Mernory Cafe- Northan Memory Cafe- Bideford One Northem Devon Bideford Tai Chi TDC Bideford Pride To￿AGE Active arKI Connected TorrA(ik Wleu Leg Groups TorrAGE T(Yrington 100 TorrAGE Help at Home Cancer Focused Community Outr&%h Fund Carers Lunch S¢heme 6.752 43.614 (6,752) 54,590 (89.198) 9,006 750 (720) 30 (26,174) 13.826 54.212 5,117 (48,361) (27,468) 5,851 19,285 1.791 15,920 14,118 22.382 4,482 1,791 3,674 2.911 {15,157) (11,488) {5,385) {1,563) {1,521) (2.632) 16,997 5,894 2,943 2.975 19,263 5,040 (19.283) (5,040) 167 167 4,390 10,382 134 29,480 {4.339) 51 10,382 134 {29,480) 11.431 11,431 3,552 4.650 {2.058) Page 24 Trvs Notes to the Financial Statsments for the Year Ended 31 March 2025 Balance at 1 Aprfl In￿rnIng Resourceg 2024 resources expended Trnnsfers Balance at 31 March 2026 Memry Cafe L**rdry FurKI Mediation Group Social Enterprise Training Creative Lives (Kyn Fund) Know your Neighbour 100 100 (191) (32) 49 {30) 4.137 6.639 5.520 30.792 (9,61n 28.165) 1271,238 9.266 95.093 199.497 210,736 (43.902 Totsl funds 380,776 506.967 602,319 285,424 Balance at 1 April Incoming Resources 2023 resources expended Transfers Balance at 31 March 2024 Unrestrlcted funds Genornl General Fund 13.402 148,410 (168,624) 14,432 7,620 DesvJnated Fund Total unrestrlcted funds 1TI,489 (3.830) 173,659 190.891 148,410 168.624 10.602 181,279 Restrlctad funds A4A Time 4 Me (Awards for All) Young Carer5 Connected Bright Futures- Other Matched Funding COMF Communty Developers CVS - Local DWP Youth Project Financial Inclusion Prr4ect Help at home expansion Settle and Support Memory Cafe- Northam Memory Cafe- Bideford One Northem Devon Bideford Upbeat Project- Bright Futu￿$ SRIL- Hdsworthy 6,752 36.601 6,752 43.614 93,233 (86,220) 750 9.535 34,171 1,621 750 (1.544) (61,220) (1.385) (6.826) (47,170) (67.139} (26,803) (2,397) {2,471) (7,991) (2.157) 32.272 1,555 1,791 52.599 64.527 49.185 3.422 975 10,491 16.730 15,¥20 14,118 22,382 3.904 2,408 19,637 (354) 19,283 2,609 357 (2,609) {4) (5,939) Page 25 rnis Notss to the Flnanclal Statements for the Year Ended 31 March 2025 Balance at 1 Aprll Incoming Resour¢es 2023 resources expended Transford Balance at 31 March 2024 SRIL- Winklwgh Tai Chi To￿AGE Active and Connected TorrAGE Well Leg Groups TorrAGE Torrington 100 TorrAGE Help a Home Carers Lunch Scheme Memory Cale kn'brary Fund Mediation Group Social Enterprise Training KrKW your Neighbour Creative Lives {Kyn FurKI} {3,928) (3.080) 2.f24 5.496 5,040 11,565 (16,505) 4,390 10,382 134 29.480 2,090 10,382 134 16,076 171.853 {158.449) {67) 2,157 2.560 (31) {6.910) (7.556) (853 506,847 6.880 14,195 4,99) 388.470 (30) 6.639 4,137 199.397 328.376 (10,602) Total funds 519.267 536.880 675.471) 380,676 The specffic purposes for the fuThls are to be ¥plied are as foN(Ms: Unrestricted funds are hekl by the Charlty that are freety ava&able to sperKI on any of the chwtys Designated funds consist of a proNision at a level dewned appnjpriate by the Trustees wlth rrferen to the Charivs Reser4es Polw docU￿nt which is detailed in the Trustees ReporL Page 26 Trvs Notes to the Financial Statements for the Year Ended 31 March 2025 Settle anrj Support (Help at Hotne) - Giarit One Northern Devon to prowde ¥olunte¢r based support for patients discharged from hospital. Memory Cafe Northam Dementia - To swport Fwle with dementia, and their families. and friends. Inancial Indusion - a Pfqect supporting objer people in Bideford and the surrounding area $0 that they can access relevant information. maxtmkse their income (through benefits and grants and receive practical suppo TwAGE- Help at Home- Slyporting independent I￿ry￿. Communty Developers - FurKling from The National Lottery in partne￿h1) with NDVS. to supwt communities in Hdsworthy. Torrington and Bideford Memory Cafe- 8ideford - To support people with dementi4 and their families, carers and friends. Young Carers Conneded - Providing supwt for ￿Ing Carers and their familes. TDC Bideford PrKle - money held on beh&Y of group TorrAGE Active and Connected - Agein9 Well providing a range of servws for older people including befriending, social xtivities. gentle exerciso. VO￿nter￿9 opportunities, infonnal advocacy and infonnatlon for those most in need. This projected finished in June 2024. TwAge Well Legs group - neN project get up to SUFPOrt those house bound to get movitvj in a gentte d supwtive Nvay. voluntser led T100 - funding to deveky the conyNnty in Torrington. Carers Lunch Scheme- to prowde coffee and cake for carers and those less fortunate Knthv your N￿hboUrh￿xX1 - Grant from cre&r￿ Libw to provth creative groups in community, volunteer led. Cancer Focused c￿￿MUnty - trj spread awareness of cancer SyTnptom'$ to vulnerable &Jutts in the ¢ommunty Page 27 Trvs Notes to the Financial Statements for the Year Ended 31 March 2025 17 Anatysls of net assets between funds Unf￿1￿0ctOd funds Gonernl Ti)tal funds at 31 March 2025 funds Tangible fixed assets Current assets Current liabilities 1,246 373,898 (184,813 190,331 1,246 488.991 (184,813 95,093 Total net assets 95.093 285.424 Total funds Restrlcted at 31 March funds 2024 funds Tangible fixed assets Current assets Current liabilities 1.868 239.019 59.608 199,497 438,516 59.608 Total net assets 181,279 199.497 380,776 Page 28 Trvs Notes to the Financlal Statements for the Year Ended 31 March 2025 18 Related party transacllons Various trustees of th¢ Charity are also repre3entalNes of organiMtion8 who are member8 of Trvs. These organisations pay m￿nberShiP subscnplions to the Charity but receive membership benefit5 Cll the same tsms as other membership organisations. It Is th8 Charitys pc*y that representatives of M￿bersh￿ ￿nis￿￿)n$ that substantial furKling to TTVS shall not be to vote at geneTrl m8&ings as such thesa tran&idions are not disdosed as a related party. Page 29