Charlty reglstratlon number 1126270 (England and Wales) Company reglstration number 05147976 SOUTH SEFfoN DEVELOPMENT TRUST TRADING AS REGENERUS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS LEGAL AND ADMINISTRATIVE INFORMATION Trustees N E Bellamy J R Fairclough C Hickev L Jones J Stancombe G Walker Dr T Dlnnln8 (Appointed 10 June 20241 Secretary D Dutton Charlty number (England and Wales) 1126270 Company number 05147976 Reg15tered offlce 2nd Floor The Investment Centre 375 Stsnley Road Bootle Merseyslde Unlted Klngdom L20 3EF Independent examlner Sedulo Llverpool Llmlted 5th Floor Walker House Exchange Fla85 Liverpool Merseyslde United Klngdom L2 3YL
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS CONTENTS Page Trustees report Independent examlner's report Statement of flr)anclal actlvltles Balance sheet io Notes to the flnanci?I statements 11-19
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The financial statements have been prepared In accordance with the accounting policies set out In note I to the financial statement5 and comply wlth the Companies Act 2(KJ6 and "Accountlng and Reportlng by Charities: Statement of Recommended Practlce appllcable to charities preparing thelr accounts in accordance wlth the Flnanci31 Reporting Standard appllcable Sn the UK and Republlc of Ireland IFRS 1021" Oblectives and actlvltles Oblectlves and alms The objects of the Trust are the promotlon for the publlc benefit of urban or rural regeneratlon in areas of soclal and economlc deprivatlon land in partlcular the South Sefton areal. Regenerus delivers Its objectlves through four maln areas: Community Culture Enterprls The staff and board assess new project Ideas against these four areas to ensure we remaln allgned to our purposes and aims.
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT IINCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performance Slgnificont actlvities and achlevements ugalnst objectlves l. Communlty 1.1 Context Regenerus works across South Sefton, malnly investing our enerev in Unacre and Derby wards whlch are ranked amongst the 5% most deprived nelghbourhoods in the country. The cost-of- living crlsis, resultlng in increases In food and fuel poverty, tOEether with the stress experlenced by mernbers of our communities, can have a 5ignlficant impact on health and well-belng. Regenerus seeks ways to contribute solutlons to these challenges, IlstÈning to local people to co-deslgn actlvltles and worklng In collaboratlon wlth local organlsatlons. 1.2 Taklng Root In Bootle Taking Root in Bootle aims to bulld communlty coheslon and Improve health and well-belng ihrou8h the dellvery of envSronmentsl actlon5. enhanclng local place5 & spaces in collaboratlon wlth communltle5. social enterprlses. the public, private and academlc sectors. Taklng Root connects communlty growlngs food and health prole¢ts, Green Sefton {Sefton MBCI, Hugh B?Ird College, South Sefton Foodbank Network and the Asda Community Champlon, now brlnging together a total of 52 In our network. Our Taklng Root team support exlstlng groups and work wlth new ones to establlsh communlty garden5, learn new skills and grow thelr own flowers, fruit and vegetables. We Ilnk our members to share resource5, knowledge and expertlse and connect people across nelghbourhood5. In addltlon, collectlve activitles under the Taklng Root umbrella, such as greenlng Bootle's 5treet5 brlng together volunteers from our members, addlng value to thelr work. We encourage our community to thlnk about the posltlve Impact of growlng on health and well-belng, and contrlbutlng to carbon capture to reduce alr pollutlon as part of cllmate change actlon. 1.3 RHS In Bloom 2024 This year saw Bootle's flfth North West In Bloom entry and we were dellghted to recelve our second gold award In the Urban Communlty category, and even more so to be reco8nised as Best Urban Communlty In the North West for 2024. Our entry led by Taklng Root In Bootle brings together local growlng groups and resldents, Sefton Councll and local buslnesses to Ereen up our town. Throughout the year our volunteer communlty growers meet for a few hour5 on a Frlday focuslng on a different site each week We know that we are 5troneer when we work together and that when we all look after our own little part of Bootle we can achleve blg results. 1.4 Merseyslde Communlty loundatlon- Breath Better Alr Communlty Fund Completed In Sprlng 2024, thls project created 2 new wlldflower sltes.. one using substrate Iblocharlrecycled crushed brlck IMOTIISand & peat free compost mix) as the growing medium, the 2nd by Peter Mahon Way, which is around a third of a hectare and wlll be our crop fleld meadow to supply wildflower 5eÈds for all our meadows in future. Working In partnership with Sefton MBC. the landowner5. we were joined by resldents and children from All Saints Cathollc Primary School for the communlty seed sowlngi all helped along wlth expert advice from the National Wildflower Centre. The project was deslgned wlth sustalnablllty in mind, si) as part of our plans to generate Bootle, own wildflower seed. we also bullt a portable biochar klln which will save on costs as we can make our own blochar for the substrate meadows and for more general use In future. This Is avallable lo Taking Root members t(b increase the use of biochar in planting as It is great for both Increased water retention and carbon sequestratlon. as every kllogram used zbsorbs around three kllograms of carbon, 1.5 Envlronmental Improvements Fund The Charity manages this grant fund on behalf of Llnacre Ward Counclllors at Sefton Councll, investing Section 106 funds to encourage local resident5 to get together and apply for up to £1,000 to clean up "grot spots., revitalising and brightenlng up our local streets and spates.
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2. Culture 2.1 Beautlfylng Bootle Taklng Root In Bootle continue to work wlth our group of volunteers to maintaln the mosalc of wlldflower meadows and the planter5 which help to green Bootle's urban streets, bringing nature to the doorstep of our resldents, adding beatsty, colour and blodlverslty. 2.2 Herltage Lottery Fund This 18-month pllot project commenced in October 2023 and almed to test the effectlveness of engaElng resldents in herltagelenvlronmental actions rooled in the local area. employlng co-design. We successfully dellvered a variety of activities comb5ning local history research and creatlve writing with envlronmental improvements. leadlng to the co-cre3tlon of nature- based herltage installatlon5 to address cllmate change in the Poets Streets nelghbourhood. Enjoying vlslts to the Archlves at Liverpool Central library and a morning spent slftlng through old photographs, participants explored the history of the Poets Streets, neighbourhood to discover the story behind the street names and how the landscape has changed over the years. Buildlng confldence through creallvlty. Collertlve Encounters lThe3tre for Soclal changel delivered 24 sessions using a varlety of fun, Creatlve approaches lo translate the archlve findings Into collaboratlve poetry to connect the past with the present, nd resultlt)g In 182 poems belng wrltlen with and by the communlty. Communlty coheslon was strengthened as demonstrated by this feedback from a coordinator at a partner organlsatlon.. Wlhal the workshops have done Is get people talklng, we have had lots of new people coming Into the drop in, the actlvlties and dlscussions have glven space to share 5torles and dlscover what we have In common." Resldent5 declded on 3 'grotspot' sltes that they fèlt were most In need of Improvement., Peel Road Park, Gray Street corner plot and Poets Park. Co-creatlon workshop5 resulted In residents declding what they wanted at each of the sStes. Wildflower plots were created at all 3 sltes, including 6 njbble meadows at the entrances to Poets Park, and over 10,000 bulbs added huge splashes of colour In sprln8. Two tèlebratlon events brought the wlder communlly together. includlng live muslc. fun games for chlldren and erafts Including pebble & flower paintlng for children and adults and of course communlly poetry Writlng. At the first event In October 2024. we were lucky as the sun shone all afternoon and with over 100 vi51tors we managed to plant around 4,000 bulbs. Performances of our communlty poems took place throughout the day. and reflectlons gathered from vlsltors resulted In even more poetry belng created. Here is an example: Octoberthe Fifth a Day to Remember In Poets Park We planted storles Played rlver/b3nk Chalked the ground Palnted flowers. We swung on 5wlngs Made up poetry Our voices found. Bulb5 were planted. The wind blew wildly, Pens and paper got thrown around.
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Tea and 5weetles, Friendly faces Meetlng our neighbours, It was sound. The 2nd celebratlon event taok place In March 2025 as we were keen that residents had the opportunlty to enjoy the daffodils In bloom. We were dellghted to be loined by over 180 re51dents at our fun day in Poets Park, including at least 50 who had lolned in the bulb planting in October, and we were blessed with eat weather to welcome Sprlng. Poems wrltten by particlpants In the project were displayed on the ralllngs all around the park at both events, to the dellght of poetry wrlters who galned a real sense of prlde when they could see thelr words In prlnt. 35 this feedback comment demonsiyates. I had no Idea Gray was a poet, and I have lived here for over 30 years. It has been an educatlon. I won't Ile I dld Ilke seelng my poem on the ralllngs, I brought my grandson to see it.. Partlclpant from the Popples group at St Leonard5. At both events, It was Ereat to see people young and old Stop and read the poems displayed around the park, sparklng conversatlons, contSnuing the dialogue and addlng new posltlve shared experlences. The bollards around the 5 entrances13 gates, 2 alley way accesses) to Poets Park were all In a state of disrepalr and thls was noted In the communlly walkabouts at the start of the project and hlghlSghted as somethSng that mlght be addressed, We omm155Ioned an artist and Invlted Ideas for the deslgns. It was all about vlbrant colours and flowers, as people told us thev wanted something that wo¢Jld brlghten up the area even in wlnter. Participants also selected the communlty poems, and some Ilnes from poetry penned by the poets after whlch the streets are named. 26 bollards have been beautlfully palnted wlth the community, promotlng the sense of ownershlp In the artworks. Feedback has been extremely posltlve, Includlng, The park15 50 muth better now, It used to be such an ugly place, but now St's so much better. and "Thanks so much for these, have really brightened up ihe path5 and streets around the park.. Polllnator-frlendly slgns, dlsplaylng posters co-created wlth partltlpants, hlghllght the Importance of nature's recovery and the role that Urban greenlng plays In cllmate acllon, together wlth wildflower plant ID Information, alongslde a verse from a poet from yester years, a poem created by resldenls and local herltage informatlon and photoEraphs. Overall, the prolect dellvered: 986 partlclpation experlences in 55 sesslons for local people, includlng 119 chlldren from 2 prlmary schools. 24 creatlvity workshops, whl£h was 3 times the prowsed tar8et of 8. 44 resldents actively took part In the project aclivities on a regular basls. exceeding the proposal target of 24 partlclpants. 3 slte5 benefitted from envlronmental Improvements, rather than the initial tarEet of 2. In addltlon to the actlvities In the proposal, we added 3 ecoloEylbiodiversity walks & talks, gulded by the Director of the Natlonal Wlldflower Centre at The Eden Project. Includlng financial contributions and in-klnd contributtons the total value of the project was E73.(106.99. Wlth expert advice from the Unlversity of Liverpool Ground5Well project, our evaluation captured the Impact of Improvlng urban green 5pace5 on health and well-beingi and our understanding of what works and what doesn't work so well, to refine our approach.
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 3. Enterpr15e 3.1 Investment Centre One of the existing tenant5 has taken on addltlonal Offi space, and we have galned a new tenani brlnglng occupancy rates the Investment Centre to 78%. A. Skllls 4.1 LlvlnE Well Sefton Nel8hbourhood Partnershlp Thls year's grant enabled us to organi5e outlngs and events for our community grovjers, wlth a focus on positive mental well~ belne, 8 communlty growers enjoyed an educatlonal visit to Cheshlre West & Chester where thp team have so far created over 130 wildflower sltes, thls presented the opportunity to learn more al)out the dlfferent sites that have been chosen, ground preparatlon approaches, types ol wlldllower seed mlx used and why, and scheduling seasonal meadow maintenance actlvltles. Acknowledging the hard work everyone put Inio Bootle In 81oom, we Invlted 17 volunteers from the varlous groups, to an event where thèy could meet each other and spend a day In an insplrlnB envlronment fllled wlth creatlve reflectlon, and flnlshlng wlth a beautiful meal to celebrate the power of gardening. 4.2 Nature In Llnacre Icommunlty reseorth) With support from Groundswell, we have 5tsrted a communlty based environmentsl appralsal of Llnacre ward, Bootle, Growing together, through increased knowledgetr personal skllls & Confidence, to understand the relation5hlp the communlty has wlth the natLtral envlronment and dellver a collalM)ratlve, local and comprehenslve,. 'natural capital, benefits assessment needslopportunlty mapping exerclse for LInae Ward Actlon Plan Groundswell, la partnership between the Unlversltles of Llverpool, Edinburgh and BelFast funded by UKPRP (Preventlon Research Partnershlpl, is a 5 year pro8ramme whlch aims to Identify and Implement actions to maximlse health and wellbeing beneflts from urban green and blue spaces {UGBSI such a5 parks, communlty eardens, canals and rivers.)
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal revlew Durlng the year, the charltable company received Income of £375,03312024 - £276,070). This income arose from rent and servlce charge Sncome long wlth grants for speclfic projects for both the current and prevlous year. The principal fundlng sources durlt)g the year were as follows: The Investment Centre Grant income- Heritage Lotterv Grant income - Riverside Grant income- Llvlng Wèll Sefton Grant Income- Community Foundatlons Grdnt Income- SM8C Linacre Grant income - Sefton M8C Grant income - Liverpool Unlversity- Groundswell Other donatlon 321,586 28.816 9,919 2,100 2,646 2.LK)O 4,200 3,266 500 The expendlture Incurred In the year was £367,60512024 - £303,553). Thls all relates to charltable actlvltles and is Incluslve of support and governance costs. In the year ended 31 March 2025 the charltable company incurred a surplus of £7,42812024- deflclt of £27,483). Re5erve5 policy It15 South Sefton Development Trust's policy to bulld and malntain reserves of more than 12 months of the core operating costs1£150,0(MJl, The Trust entered the year wlth £49.515 In unrestrlcted funds In feserves whlch, at the end of the year, amounted to £63.267. Structure* governance and management Governlng document South Sefton Development Trust Is a charitable company limlted by guarantee (Company no 51479761, Incorporated on 8th June 2004 and reElstered as a charity Ino 11262701 on 13th October 2008. The company wa5 establlshed under a Memorandum of Association which estsblished the objects and powers of the charitable company and It Is governed by Its Artlcles of Assoclation. In the event of the company belng wound up. members are requlred to contrlbute an amount not exceeding £1, The tru5lees, who are also the directors for the purpos@ of company law. and who served dLErlng the year and up to the date of slgnature of the ftnancial statements were: N E Bellamy J R Falrclough C Hlckey L Jones J Stancombe G Walker Dr T Dinnlng (Appolnted 10 June 20241
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Recruitment and oppolntment of trustees The Dlrectors of the company are also charlty trustees for the purposes of charity law. Under the requlrement5 of the Memorandurn and Artlcle5 of Association. one third of the Directors must retlre by rotatlon, after whlch they may stand for re- election. The Board of Trustees regularly revlew the skills mix of Board memkjers to Identlfy any skllls gaps and actively seek to recrult new Board members who bring the relevant skllls to. Recruitment Is through relevant forums wherever posslble, or by approach to Indlvlduals. The Charlty benefits from Its Board of Trustees who contribute relevant experlence from a wide varlety of backErounds, includlng: finance, marketing and organisational management, from the public, private and social economy sectors, and local knowle.dge of South Sefton, Trustees contribute commerclal experience, expertlse acioss all buslness dlsclpllnes and knowledge of ihe communlty and soclal economy sector, Induction ond trolnln9 oltrustees Dlrectors/Trustees are presented with an Induttion pack vthen they first take office, thls outline5 the roles and responslbllities they face a5 company dlrectors and charlty trustees, together with the alms and oblective5 of the Trust. We undertake an Indlvldual needs audlt, and provlde additlonal tralnSng for Indlvidual trustees Should It be requlred, The Trustees report was approved by the Board of Trustees. rclo Date..
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH SEFTON DEVELOPMENT TRUST I report to the trustees on my examination of the financial statements of South Sefton Development Trust (the charity) for the year ended 31 March 2025. Responslbllltles and basls of report As the trustees of the charity land also its directors lor the purposes of company law), you are responslble for the preparation of the flnanclal statements in accordance with the requlrements of the Companies Act 2006. Having satlsfied myself that the financial statements of the charity are not requlred to be audited under Part 16 of thè Companles Act 2006 and are eligible for Independent examinatlon, I report In respect of my examlnatlon of the Charlty's flnantlal slatemenls carrled out under sectlon 145 of the Charlties Act 2011. In carrying out my examlnatlon I have followed the Directlons glven by the Charlty Commission under sectlon 145151{bl of the Charities Act 2011. Independent examlner's statement Since the charity's grass income exceeded £250,(*JO, the Independent eKamlner must be a member of a body listed In section 145 of the Chariiles Act 2011. 1 confirm that l am qualified to undertake the examlnation because l am a member of ACCA, whlch Is one of the115ted bodles. have completed my examination. I conflrm that no matters have c(Jme to my attentlon In connectlon with the examlnatlon glvlng me cause to belleve that In any materlal respect: accountlng records were not kept In respect of the charlty a5 requlred by section 386 of the Companies Act 2006, the financlal statements do not accord wlth those records,. or the flnancial statements do not comply wllh the accountlng requlrements of sectlon 396 of the Companies Act 2006 other than any requlrement that the financ131 statements glve a true and falr vlew, whlch Is not a matter considered as part of an Independent examinatlon,. or the financial statements have not been prepared In accordance wlth the methods and princlples of the Statement of Recommended Practlce for accountlng and reportlng by ch3rities applicable to charltles preparlng theSr flnanclal statements In accordance wSth the Flnancial Reportln8 Standard appllcable In the UK and Republit of Ireland IFRS 1021. I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the flnanclal statements to be reached. Sedulo Llverpool Llmlted 5th Floor Walker House Exchange Flags LSverpool Mersey51de L2 3YL United KlnEdom Date:
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Reslrlcted funds 2025 Total Unrestrlrted funds 2024 Restrlcted funds 2024 Total 2025 2024 Noles Income from: Donatlons and legacies Charltable actlvitles 53.447 53,447 321,586 35.087 3S,087 240,983 321.586 240.983 Total Income 321,586 53,447 375,033 240.983 35,087 276,070 ExpendSture on.. Charitable a¢tivltles 307,834 59,771 367,605 270,671 32,882 303,553 Totsl expendltUTe 307,834 59,771 367,605 270,671 32,882 303,553 Net Ineomellexpendlturel and movement In funds 13,752 {6,324} 7,428 {29,6881 2,205 127,4831 Reconciliatlon of lunds: Fund balances at l April 2024 445,795 1,508,076 1,953,871 475,483 I,SOS,871 1,981,354 Fund balances at 31 March 2025 459.547 1.501,752 1,961,299 445.795 1,508,076 1,953,871 The ststement of flnanclal activltle5 Includes all galns and 105ses recognlsed In the year. All Income and expendlture derlve from continulng a¢tlvlties.
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxed assets Tanglble assets 1,897,941 1,897,981 Current assets Debtors Cash at bank and In hand 81,858 32.443 39,858 62,980 114,301 150,9431 102,83S 146,9481 Credltors,, amounts falling due wlthln one year io Net current assets 63,358 55,890 Total assets less current Ilabllltles 1,961,299 1,953,871 The funds of the tharltv Restrlcted income fund5 Unrestrlcted funds 12 I,SOl,752 459,547 1.508,076 445,795 13 1,961,299 1,953,871 The companyrs entltled to the exemption from the audlt requirement contalned In sectlon 477 of the Companle5 Act 2006, for the year ended 31 March 2025. The dSrectors acknowledge thelr responsibilitie5 for complylng wlth the requlremÈnts of the Companles Act 2006 with respect to accountlng records and the preparatlon of flnanclal statements. The members have not requlred the company to obtain an audit of Its financial statements for the year In questlon In accordance with sectlon 476. Thèse flnanclal statements have been prepared In accordance with the provlslons applicable to companles subject to the Small companies reglme. The flnanclal statements were approved by the trustees o Company registration number 05147976 (England and Wales) 10-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Charlty Information South Sefton Development Trust is a private cornpany limited by guarantee Incorporated in England and Wales. The reBlStèred office Is 2nd Floor, The Investment Centre, 375 Stanley Road, Bootle, Merseyside, L20 3EF, Unlted Kingdom. 1.1 Accountlng conventlon The flnancial ststement5 have been prepared in accordance with the charlty's governlnE document, the Companies Act 2006, FRS 102 "The Flnantlal Reporting Stsndard applicable in the UK and Republic of Ireland" and the Charitles SORP "Accounting and Reportlng by charltles.. Stalernent of Recommended Practlce app5icable to charltles preparlng thelr accounts In a¢c¢Jrdance with the Flnanclal Reportlng Standard applicable In the UK and Republie of Ireland IFRS 1021" The charlty Is a Public Benefit Entlty as defined by FRS 102. The charSty has taken advanta8e of the provlslons In the SORP for charltles not to prepare a statement of cash flow5, The flnancial statements are prepared in stèrlin8, which is the functional currency of the charity. Monetary amounts In these flnancial statements are rounded to the nearest £. The flnanclal statements have been prepared under the h15torlcal cost conventlon, modifled to Include the revaluatlon of freehold propertles and to Include It)vestment propertles and certaln flnancial Ir)struments at falr value, The prlnclpal accountlng pollcles adopted ère set out below. 1,2 Golng concern At the tlme of approvlna the flnanclal statements. the trustees have a reasonable expectatlon that the charlty ha5 adequate resources to contlrbue in operatlonal exlstence for the foreseeable future. Thus the trustees continue to adopt the golng concern basis of accountlng In preparlng the finanaal statements. 1.3 ch?rltable funds Unrestrlcted funds are avallable for use at the dlscreth)n of the trustees In furtherance of thelr charitable oblectlves. Restrlcted funds are subject to speclflc condltlons by donors or granlors as to how they may be used. The purposès and uses of the restrlcted funds are set out In the notes to the flnanclal statements, Endowment funds are sublect to speclfic conditions by donor5 that the capltal must be maintained by the charlty. 1.4 Income Income Is recognised when the charity 15 legall¥ entltled to it after any performance cofidltlons have been met, the amounts can be measured reliably, and It Is probable that income will be recelved, 1.5 Expendlture Expenditure Is recoenlsed once there is a legal or con5tructlve obligation to transfer economic beneflt to a third party, It Is probable thal a transfer of economic benefil5 will be requlred In settlement, and the amount of thè obllgatlon can be measured reliably. 1.6 Tangible flxed a55ets Tanglble flxed assets are initially measured at C05t and subsequently measured at cost or valuation, net of depreclatlon and any impalrment losses. 11
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountln8 pollcles {Contlnuedl Depreclatlon is recognised so as to wrlte off the cost or valuation of assets less their resldual values over thelr useful Ilves on the following bases: Long leasehold Flxture5 and flttlngs Computers Investment property No depreclation 25% on reduclng balance 25% on reducing balance No depreciation The galn or loss arislng on the dlsposal of an asset Is determined as the dllference between the sale proceeds and the carrylng value of the asset, and Is recognlsed In the statement of financlal actlvltles. Investment property, whlch is property held to earn rentals and/or for capital appreclation, 15 Inltlally recognised at cost, whlch Includes the purchase tost and any dSrectly attributable expendlture. Subsequently itls mèasured at falr value at the reportlnE end date, The surplus or deficit on revaluatlon Is recognlsed In profit or loss. 1.7 Impalrment of flxed assets At each reporting end date, the charlty reviews the carrying amounls of Its tangible assets to determlne whother there Is any Indicatlon that those assets have suffered an Impalrment loss. If any such Indlcation ex15ts, the recoverable amount of the asset is estlmated In order to deteimlne the extent of the Impalment loss Ilf any). 1.8 Cash and cash equlvalenls Cash and cash equivalents Include cash In hand. dep051t5 held at call wlth banks, other short-term liquid Investments wlth orlglnal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown withln borrowln85 In current Ilablllties. 1.9 Flnanelal Instruments The Charity ha5 elected to apply the provislons of Section 11 'Basic Financlal Instruments, and Sectlon 12 '0ther Flnantlal Instruments Issues, of FRS 102 to all of its financlal Instruments. Flnancial instruments are recognlsed In the charlty's balance sheet when the charlty becomes party to the contractual provSslons of the Instrument. Financlal assets and liabilitles are offset, wllh the net amounts presented In the financial statements, when there Is a legally enforceable right lo set off the recognised amounts and there is an Intentlon to seltle on a net basls or to rea115e the asset and settle the Ilabillty slmultaneously. 8¢7slcJltJtsnclal assets Baslc flnanc13135sets, whlch Include debtors and cash and bank balances. are Inltlalfy measured at transactlon price Intludlng transaction costs and are subsequently carried at amortlsed c05t using the effective interest method unless the arrangement tonstilutes a flnanclng transactlon, Whe the transaction 15 measured at the present Wdlue of the future recelpts dlscounted at a market rate of interest. Flnancial assets cla551fièd as receivable wlthln one year are not amortised. 12-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policles Icontlnuedl Bu51cflnonclol Ilabllltles Basic financial liaknilities, includlng crèdltors and bank loans are Inltlally recognised at tr3nsactlon prlce unles5 the arrangement constltutes a financlnB transaction, where the debt instrument Is measured at the present value of the future payments discounted at a market rdte of Interest. Financial liabllltle5 classified as payable wlthln one year are not amortlsed. Debt Instruments are subsequently carrled at amortised cost, uslng thè effettive interest rate method. Trado crodltors are obligation5 to pay for 8oods or servlces that have been acqulred In the ordlnary course of operatlons from suppllers. Amounts payable are classified as curr@nt liabilities if payment Is due within one year or less.11 not, they are presented as non-c(Jrrent Ilablllties. Trade credltors are recognised Initlally at transactlon prl¢e and subsequently measured at amortlsed c05t Uslng the effective Interest mèthod. Derecognltlon oljlnoncial Ilubllltles Flnanclal liabilltles are derecognSsed when the charlty's contractual obllgatlons explre or are dlscharged or cancelled. 1.10 Taxatlon The charity is exempt from corporatlon tax on Its charitable actlvltles. 1.11 Employee beneflts The cost of any unused holiday entitlement Is recognised In the perlod In which the employee's servlces are recelved. Termlnatlon beneflis are recognlsed Immedlately as an expense when the charlty Is demonstrably commltted to termlnate the employment of an employee or to provlde termination beneflts. 1.12 Retlrement benefits Payments to deflned contrlbutlon retirement beneflt scheme5 are charged as an expense as they fall due. 1.13 Irrecoverable VAT All resources expended are classlfied under the actlvlty headings that 4Eregate all costs related to the categorv, Irrecoverable VAT is charged aBalnst the category of resources expended for whlth It was Incurred. Income from donatlons and legacles Restrlcted fund5 2025 Restrlcted fund5 2024 Grants 53,447 35,087 13
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charltable actlvStles UnrestrScted funds 2025 Unrestricted funds 2024 Property Investment charltable rental income 321,586 240,983 14-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charltable actlvitles Charitable Support costs actlvities Z025 Total Charltable Support Costs actlvitie5 2024 Total 2025 2025 2024 2024 Dlrect costs Staff costs Depreclatlon and Impalrment Hlre of plant and machlnery Rates, water, light and heat Insurance Advertislng Repairs and renewals Sundrles Securlty expenses Telephone Post and statlonerv Bank charges Cleanlng costs Dlrect charltable expendlturÈ 87.881 87,881 77,449 77,449 40 40 48 841 48 841 56,651 13,858 6.ols 55.502 3,003 S7,490 56,651 13,858 6.015 5S,502 3,IYJ3 57,490 3,466 2,885 559 24,971 46,974 15,703 5,860 33,525 2,891 44,702 46,974 15,703 5,860 33,525 2,891 44,702 3,243 1,967 517 31,314 3,466 2,885 559 24,971 3,243 1,967 517 31,314 48,961 48,961 32,882 32,882 241,520 119,762 361,282 183,426 114,490 297.916 Share ol support and govemance Costs {see note 5) Support 632 GovernanGe 632 2,125 3,512 2,125 3,512 5,691 5,691 247,843 119,762 367,605 189,063 114,490 303,553 Analysls by fund Unrestrlcted funds Re5trlcted funds 198.882 48,961 108,952 10,810 307,834 59,771 156,181 32.882 114,490 270,671 32,882 247.843 119.762 367,605 189,063 114,490 303,553 15-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to actlvltles 2025 2024 Foreign exchange Governance costs 632 5,691 2,125 3,512 6,323 5,637 Analysed between: Charltable actlvlties 6,323 5,637 Trustee5 None of the trustees lor any per50n5 connected wlth thern) recelved any remuneration or beneflts from the charlty during the year. Employee5 The average monthly number of employee5 durln8 the year was., 2025 Number 2024 Number Admlnlstratlve staff Employment cost5 2025 2024 Wages and salarie5 Social 5ecurlty costs Other penslon costs 82,864 2,867 2,150 72,719 4,730 87,881 77,449 There were no employees whose annual remuneration was more than £GO,(KJO. 16-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Tanglble flxed assets Long le8sehdd flxtuies and fltllngs Computers Investment property Totsl Cost At l April 2024 47,820 11,098 6,343 1,850,000 1,915,261 At 31 March 2025 47,820 11,098 6,343 1,850,000 1,915,261 Depreclatlon and impalrment At l Aprll 2024 Depreciatlon charged in the year 11,098 6,182 40 17,280 40 At 31 March 2025 11,098 6,222 17,320 Carrylng amount At 31 March 2025 47,820 121 1,850,000 1,897,941 At 31 March 2024 47,820 161 1,850,000 1,897,981 The faSr value of the Investment property has been arrlved at on the basis of a valuatlon carrled out at 31st March 2022 by ASL Chartered Surveyors, who are not connected wlth the charlty. The valuatlon was made on an open market value basls by reference to market evldence of transaction prlces for simllar propertles. The historic cost of the property Is £1,468,260. Debtors 2025 2024 Amoun15 f4lllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued Income 31,360 14,562 16,667 8,629 50,498 81,858 39,858 io Credltor5: amounts falllng due vAthln one year 2025 2024 Other taxation and social security Trade ereditor5 Other credltors Accruals and deferred income 8,516 10,224 3,304 28,899 2,331 3,223 1,828 39,566 50.943 46,948 17-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Retlrement beneflt schemes 2025 2024 Deflned contributlon schemes charge to proflt or loss In respect of defined contributlon schemes 2,150 4,730 The charlty operates a defined contribution pension scheme for 311 qu31ifying employee5. The assets of the scheme are held separately from those of the charlty In an Independently adminlstered fund. 12 Restrlcted funds The restrlcted funds of the charity comprlse the unexpended balances of donations and grants held on trust subject to speclflc condltions by donors as to how they may be used. At l April 2Q24 Incomlng resources Resources expended At 31 March 2025 Re5trlcted fvnds 1.508,076 53,447 159,7711 1,501,752 Prevlous year,, At l Aprll 2023 Incomln8 resources Resources expended At 31 March 2024 Restrlcted funds 1.505,871 35.087 {32,8821 1,508,076 13 Unrestrlcted funds The unrestrlcted funds of the charlty comprlse the unexpended balances of donatlons and grants whlch are not subject to 5peciflc condltlons by donors and grantors as to how they may be used. They also cornprlse of a revaluation reserve wlth a balance of £396,28012024.. £396,2801. At l April 2024 Incomlng resources Resources expended At 31 March 2025 General funds Revaltjation reserve 49,515 396,280 321,586 {307,8341 63,267 396,280 Previous year: At l Aprll 2023 Incomlng resource5 Resources expended At 31 March 2024 General funds Revaluatlon reserve 79,203 396,280 240.983 1270,6711 49,515 396,280 18-
SOUTH SEFTON DEVELOPMENT TRUST TRADING AS REGENERUS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Analysls of net assets between funds Unre5trlcted fund5 2025 Restricted funds Total 2025 2025 At 31 March 2025: Tanglble assets Current assetsllliabllitiesl 396,701 63,358 1,501,240 1,897,941 63,358 460,059 1,501,240 1,961,299 Unrestrlcted lunds 2024 Re5trlcted funds 2024 Total 2024 At 31 March 2024: Tangible asset5 Current assetsllllabllltiesl 396,741 49,054 1,501,240 6,836 1,897,981 55,890 445,795 1,508,076 1,953,871 15 Related party transactlons There were no dlsclosable related party transactlons during the year {2024- none). 16 Llmlted by Guarantee The Charlty Is a publlc benefit entlty and Is Ilmlted by guarantee Incorporated In England and Wales. In the event of wlndlng up the company, each member is required to contribute £1. The reglstered offlce Is The Investment Centre, 375 Stanley Road, Bootle, Merseyslde L20 3EF 19-