Company reglstratlon number: 04351175 Charity registration number.. 1132983 Wiveliscombe Area Partnership (A company IlmSted by guaranieel Annual Report and Financlal Statements for the Year Ended 31 March 2024 WESTCOTTS ¢NAR TIIIIO CCOUWTA14T I •¢JSINSJS ADVISFr8
Wiveliscombe Area Partnership Contents Reference and Administrative Details 1 to2 Trustees, Report 3to8 Independent Examinerfs Report statement of Financial Activities 10 Balance Sheet Notes to the Financial Statements 12to26
Wiveliscombe Area Partnership Reference and Administrative Details Chairman Mrs P Homeshaw Trustees Mr A Smith Mr T Field Miss E Hurry Mr A Measures Mr A Michie Mr C E Robertson Mr B Adshead Mrs P Homeshaw Secretary Mr A Smith Charity Registration Number 1132983 Company Registration Number 04351175 The charity is incorporated in England and Wales. Page 1
Wiveliscombe Area Partnership Reference and Administrative Details Registered Office Wiveliscombe House The Squar8 Wiveliscombe Sornersel TA4 2JT Independent Examiner Westcolts ISW) LLP Independent examiner Queens House 4244 New Street Honiton Devon EX14 18J Solicitors: Porter Dodson The Quad Blackbrook Park Avenue Taunton Somersel TA12PX Bankers National Westminster Bank plc Wellington 12 Fore Street Wellington Somerset TA218AL The Charity Bank Tonbridge 1 Fosse House 182 High Streel Tonbridge Kent TN91BE Page 2
Wiveliscombe Area Partnership Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Objects and aims Our mission The promotion of the social, economic and cultural prosperity of our community and all who live in it Promote the enhancement, improvement and amenity of the Area of Benefit for the benefit of its inhabitants., Provide a ¢omTT7unity transport service for those who are in need of such a service because of age, sickness, disability or financial need or because of a lack of availability of adequate and safe public passenger services- Provide recrealional facilities or other leisure time occupation for the inhabitants of Ihe Area of Benefit who have need of such facilities by reason of their youth, age, infirmity or disablement. financial hardship or social and economic circumstances. or for the public at large in the interesls of social welfare and with the object of improving the conditions of life of the said inhabitants- Promote health in the Area of Benefit- Provide, improve and maintain public amenilies in the Area of Benefit- Relieve financial hardship in the Area of Benefit by providing or facilitating the provision of housing for those who are in need- Relieve unemployment in the Area of Benefit such ways as may be thoLtght fit including the provision or assistance in the provision of workspace, buildings, land or infrastructure for use on favourable terms, training and information. Prevent crime in the Area of Benefit by promoting Cothoperation beeen the public and the police. In these objects, "the Area of Benefit" means the ten parishes comprising Wiveliscombe and the surrounding area. The board intends lo narrow these objects to fit our currenl role and ambitions. Page 3
Wiveliscombe Area Partnership Trustees. Report Objectives, strategies and activities 1. The Community Office: Providing the community with acces5 to support services, our busy office had over 2,545 visitors this year receiving help and support including regular drop-in surgeries with the police, solicitors and Wivey Cares. The office is also the base for Wivey Link and is manned with four part time staff and six volunteers. Office volunteers and Trustees gave in excess of 1,100 hours of time to ensure this vital resource remains al the heart of Wiveliscombe. We provide a meeting room and office seNices for a range of organisations such as the Town Council and the Civic Society. WAP frequently 'hosts' fledging civic organisations as they get established including offering advice, management of restricted funds and an initial registered address. 2. Wivey Link: Our distinctive red vehicles can be seen all over West Somerset and beyond. Wivey Link's prime focus is to alleviate rural isolation. The service is open to all ages, who for whatever reason, do not have ready access to public or privat8 transport or who are chronically sick or living with a disability. All our drivers are volunleers. 3. 10 Parishes Festival of Visual and Performing Arts: A major evenl in Wiveliscombe and the nine surrounding parishes. Now entY years old, it is a highly successful biennial evenl. supported by the large number of artists, craftspeople and performers who have chosen to live and work in the area, giving il a unique Character and a widely acknowledged creative identity. Everyone is welcome to come along and join in. Most events are free. 4. Wiveliscombe Community Library.. WAP took on the management of the Community Library in April 2019 when it switched from being part of Somerset Council facilities to a community run unit, in common with many across Somerset. The library is well used and much loved by Wiveliscombe residents and has a prominent location in the centre of Wiveliscombe. It is the fulcrum of the recently developed biennial Literary Festival. Public benefit The Irustees Confirm that they have complied wilh the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Page 4
Wiveliscombe Area Partnership Trustees. Report Financial review The accounts show a significant operating deficit for the year ended 31 March 2024 of £20.529 {2023 deficil £9,391) but an improvement in gross income to £145,677 {2023.' £134,817}. Last year the Charity benefited from a legacy which boosted donations, this year without such legacy donations reduced to £16,304 (2023.. £26,630). The Charity is dependent on donations lo keep operating and the Trustees express their gratitude to all those who left a legacy or donated throughout the year. In recognition of our role in the community we also receivèd important partnership funding from Somerset Council, {previously Somerset West and Taunton council, merger occurring on 1 April 2023) of £29,710, as well as £4,000 from Wiveliscombe Town Council towards the administration costs of Wivey Link and the Communily Office and £10,100 towards the Library. Income generated from fares and registrations continues to recover and showed a 20 /0 increase to £59,604 including £1,501 (2023.. £2,147) relating to the Lister Link service delivering prescription medicines. The Charity claims the Bus Service Operators Granl (BSOG) which refunds some of thè duty on fuel. A lolal of £4,714 12023- £3,349} was recovered for the year, reflecting the increased distance travelled. Total resources expended by WAP in the year amounted to £168,520 (2023: £142,171) wilh charitable aclivity support costs at £33,529 (2023.. £32,337J.' just under 200/0. The Charity continues lo run the local library in conjunction with Wiveliscombe Town Council and Somerset County Council. Total income, mainly subsidy, was £12,39912023.' £14,612) against total costs of £13,025 (2023.. £16,057). There was no Literary Festival in 2023124. Reserves and investment pollcy Total funds held at 31 March 2024 were £184.010 (2023.. £204,539). These funds are held across Naest current and reserve accounts for operating liquidity, deposits with Charity Bank held principally for periodic vehicle replacement and an Aviva investment fund for core resetves. As noted above, much of our income stems from grants received from Somerset County Council, Wiveliscombe Town Council and other Parishes in the Area of Benefit. Given current financial pressures on local government the Trustees cannot be sure that the grants will continue. The Trustees, therefore, feel it prudent to hold funds amounting to at least years of grant funding in order to continue lo meet the charity's objectives for a period if the grants were to cease. The Trustees review this policy annually. Furthermore recent financial performance has been unsatisfactory and we have been forced to dig into our reserves. Looking ahead we were fortunate to secure a National Lottery grant of £19,744 at the end of the financial year which has been accrued into 2024125 as it relates to that period. We have however been advised that our Somerset Council grant will be halved in 2024125. Page 5
Wiveliscombe Area Partnership Trustees, Report Structure, governance and management Nature of governing document The organisalion is a charitable company limited by guarantee, incorporated on 10 January 2002 and registered as a charity on 25 November 2009 under the number 1132983, the liability of Ihe members in the event of a winding up being £1 each. The charity is managed by the trustees who are also the members. The charity is governed by its Articles of Association adopted by Special Resolulion on 29 February 2012, revising those adopted on 28 November 2009 when the charity was registered. Further revisions to the Articles of Association wer8 made on 3 February 2016 and 9 August 2017. Th8 Financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 {FRS102). Organisational structure Day to day management of the charity is carried out by the Trustees and a Manager with three furthor part-time staff roles. The Board of Trustees (see page 11 is drawn from the local community with a broad range of the necessary skills and experience and formally elected al annual meetings. The Trustees meet on a monthly basis to ensure that the objects of the charity continue to be met. The chair meets regularly with each Trustee to discuss their contribution to the Board. Currently a number of Trustees have served for more than 9 years, remaining unlil a replacement Trustee with the necessary skills can be found. In addition to the Trustees, the Charity has approximately 50 volunteers of whom 40 are engaged as drivers for Wivey Link, which has five vehicles. Other volunteers support the busy office. Page 6
Wiveliscombe Area Partnership Trustees. Report Major risks and management of those rlsks The board has a risk register which is reviewed twice a year and regularfy consider the risks lo which the charity may be exposed, Key risks are identified as.. Potential shortfall of funding This is mitigated through regular soliciting of existing and potential new sources of funding, regular review of fares and registrations, and careful cost conlrol. Shortage and suitability of volunteer drivers Wivey Link has regular recruitment events to attract new drivers and promotes the need for drivers across all communication channels. Volunteer drivers are assessed to determine whether they are suitable lo drive for Wivey Link and DBS checked. Drivers go through a rigorous training programme (including wheelchair training and first aid) and regular driver meetings ensure that drivers are kept up to date. Risk associ8ted with vulnerable passengers Due to the nature of the service some passengers may be classed as vulnerable. A registration fom is cornpleted for each passenger and regular communication is maintained to ensure the physical and mental health of the passenger has not significantly Ghanged. This ensures the drivers are aware of the health needs of each passenger to mitigate risk not only lo the passenger but to themselves. Safeguarding policies are in pla. Risks associaled with the office, staff and office volunteers Various poliGies, including health and safely, HR, safeguarding and lone working are in place. Regular fire checks and PAT testing take place and Ihe premises are covered by CCTV. Page 7
Wiveliscombe Area Partnership Trustees. Report Statement of trustees, responsibilities The trustees (who are also the directors of Wiveliscombe Area Partnership for the purposes of company lawl are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounling records that Gan disclose with reasonable accuracy at any time the financial posilion of the charitable company and enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the tnjstees of the charity on 11 December 2024 and signed on its behalf by.. Mrs P Homeshaw Chaimian and trustee Page 8
Wiveliscombe Area Partnership Independent Examinerfs Report to the trustees of Wiveliscombe Area Partnership ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbilities and basis of report As the charity's trustees of the Company land a150 its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance wlh the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act.) In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connection ¥Mlh the examination giving me cause to believe.. 1. accounting records were not kept in respect of Wiveliscombe Area Partnership as required by section 386 of the 2006 Act.. or 2. the accounts do not accord wth those records.. or 3. the accounts do not comply w¢th the accounting requirements of *ction 3 of the 2006 Act other than any requiremenl that the accounts give a 'true and fair Vie which is not a matter considered as part of an independent examination.. or 4. the accounts have not been prepared in accordance th the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities pieparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concerns and have come across no other matters in connection wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr N Smy ACA Independent examin8f We5tcotts ISWI LLP Queens House 4244 New Street Honiton Devon EX14 18J Date:.. Page 9
Wiveliscombe Area Partnership 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 Totsl 2024 Total 2023 Note In¢ome and Endowments from: Donations and legacies Charilable activities Investment income Other incorne 61,554 68.279 1,860 1.585 10,615 1.784 72,169 70,063 1,860 1,585 76,995 54.229 1,018 2,575 Total income 133,278 12,399 145,677 134,817 Expenditure on: Raising funds Charitable activities (229) 152.657 (229) 188,291) (3061 1141,8651 115,8341 Total expenditure Gainslllossesl on investment assets (152,886) {15,634) (168,520) (142,1711 2,314 2,314 2,037 Net expenditure 17.294 3,235 20,5291 9,391 Nel movement in fund5 117,294) (3,235) 120,529) (9,391) Reconciliation of funds Total funds brought forward Total funds carried forward 185,768 18,771 204,539 213,930 168,474 15.536 184.010 204,539 All of the charity's activities derive frtJm continuing operations during the above two periods. The funds breakdown for 2023 is shown in note . The notes on pages 12 to 26 form an integral part of these financial statements. Page 10
Wiveliscombe Area Partnership (Registration number: 04351175) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Investments 38,046 32,715 40,764 55,401 14 70,761 96,165 Current assets Stocks Debtors Cash al bank and in hand 15 16 17 227 14,213 125,483 227 7,640 113,360 139,923 121.227 Creditors: Amounts falling due wilhin one year 18 26,674 12,853 Net current assets 113.249 108.374 Net assets 184,010 204.539 Funds of the ¢harlty: Restricted income funds Restricted funds 15.536 18,771 Unrestricted income funds Unrestricted funds 168,474 185,768 Total funds 184.010 204,539 For the financial year ending 31 March 2024 the charity was entitl8d to exemption from audil under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. The members have not required the charity to obtain an audil of its accounts for the year in question in accordance with section 476- and The directors acknowledge their responsibililies for complying with Ihe requirements of the Act with respect lo accounting records and the preparalion of accounts. The financial stalements on pages 10 to 26 were approved by the trustees, and aulhorised for issue on 11 December 2024 and signed on their behalf by.. Mrs P Homeshaw Chaimian and trustee The notes on pages 12 to 26 form an integral part of these financial statements. Page 11
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The charity 15 limited by guarantee, incorporated in England and Wales, and Consequently does not have share capital. Each of the trustees is liable to contribute an amoLtnt not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is.. Wiveliscornbe House The Square WivelisGombe Somersel TA4 2JT These financial statements were authorised for issue by the trustees on 11 December 2024. 2 Accounting policies Summary of slgnlficant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied lo all the years presented, unless otherwise stated. Statement of compliance The financial statem8nts have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Praclice {applicable to charilies preparing their accounts in accoriJan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)) (issued in October 2019) - {Charilies SORP {FRS 1021). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Acl 2006. Basis of preparation Wiveliscombe Area Partnership meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that aff&ct the carrying value of assets held by the charity. Exemption from preparing a cash flow statement The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is reco9nised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 12
Wiveliscombe Area Partnership Notes to the Financial Ststements for the Year Ended 31 March 2024 Donations and legacies Donations are reco9nised when the charity has been notified in writing of both the amount and settlement date. In the event that a donalion is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of Ihose conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement lo the funds and any conditions linked to the grants have been met. Where performance conditions are altached to the grant and are yet to be met, Ihe income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment income Dividends are recognised once the divid8nd has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs Cannot be directly attributed to particular headings they have been allocated on a basis consislent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attraGting voluntary income, the management of investments and those incurred in trading activities thal raise funds. Charitable activities Charitable expenditure Comprises those costs incurred by the charity in the delivery of its activities and servic&s for its beneficiaries. It includes bolh costs thal can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions an(J have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Page 13
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 Taxation The charity is considered to pass the lests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is Potentially exempt from taxation in respect of income or Gapital gains received wilhin Gategories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to Charitable purposes. Tangible fixed assets Individual fixed assets costing £0.00 or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the Gost or valuation, less any estimated residual value. over their expected useful economic life as follows- Asset class Motor vehicles Office equipmenl Depreciation method and rate 25 % straight line basis 30°/o on Ihe reducing balance Fixed asset investments Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as Ihe difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or creijited lo the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or Charged to the Statement of Financial Activities based on the market value at the year end. Stock Stock is valued al the lower of cost and estimated selling price less costs lo complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-oul {FIFO). Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant fisk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of Ihe objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the tru5tee5. Reslricted 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 14
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 Financlal instruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according lo the substance of the conlraclual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assels of the charity after deducting all of its liabilities. Recognition and measurement All financial assets and liabilities are initially measured at transaction price {including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured al fair value (which is nonmally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaclion, the financial asset or financial liability is measured at the present value of Ihe future payments discounted at a market rale of interesl for a similar debt instrument. Financial assets and liabilities are only offsel in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Gharity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset lo another paty. Financial liabilities are derecognised only when the obligation specified in the conlract is discharged, cancelled or expires. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Page 15
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donations and legacies Unrestricted funds General Restrlcted funds Total 2024 Total 2023 Donations and legacies., Donations from individuals Gift aid reclaimed Grants.. SWT- Covid 19 SWT- Partn8rship funding SWT- vehicle modifications WTC - service level agreement WTC - library management WTC - rent WTC - library administration Somerset Community Foundation Albert Hunt Trust Bus seNice operators grant 15,789 515 16.304 26,630 2,206 {2,169) 29,710 (2,169) 29,710 29,710 1,000 4.000 4,000 3.600 2.500 4.000 4,000 4,000 3,600 2,500 6,510 3,000 4,714 72,169 4,000 3,600 2,500 6,510 3.000 4,714 3,349 61,554 10,615 76,995 4 Income from charitab18 activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Wivey Link Library 10 Parishes Festival Street Market Wiveliscombe Library Festival 59,604 59.604 1,784 6,560 2,115 49,599 1,521 1,784 6,560 2,115 1,363 1,746 68,279 1,784 70.063 54,229 Page 16
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 5 Investment income Unrestricted funds General Total 2024 Interest receivable and similar income., Interest received 1,860 1,860 1,860 1,860 6 Other Income Unreslricted funds General Total 2024 Total 2023 Book sales Printing, photocopying and lamination Other sales Rental income 169 842 206 368 169 842 206 368 371 836 210 1,158 1,585 1,585 2,575 7 Expenditure on raising funds a) Other costs of generating donations and legacies Unrestricted funds General Total 2024 Total 2023 Note Items purchased for resale 229 229 306 Page 17
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 8 Expenditure on charitable activities Charitable activity expense by fund Unrestricted funds General Restricted funds Total 2024 Total 2023 Note Community Office Wivey Link Library 10 Parishes Festival Street Market Allocated support costs 18,916 87.200 18.916 89,809 13,025 10.008 3,004 33,529 8,011 82,481 16,057 2,609 13,025 10,008 3.004 33,529 2,979 32,337 152,657 15,634 168,291 141.865 Charitable activity expense by type Activity undertaken directly Activity support Costs 2024 Community Office Wivey Link Library 10 Parishes Festival Street Market 18,916 89,809 13,025 10,008 3,004 15,276 18,253 34,192 108,062 13,025 10,008 3,004 134,762 33.529 168,291 Page 18
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 Charitable activities (detail) 10 Parishes Festival Communlty Wivey Office Link Street Market Total 2024 Library Vehicle running costs Vehicle insurance Equipmenl hire Musicians Wages and salaries Rent Light, heat and water Insurance Repairs and maintenance Cleaning Telephone Computer costs Printing, postage and stationery Sundries Advertising Bank charges Bad debts written off Depreciation 31,361 5,580 31,361 5,580 1,744 1,000 49.033 3,622 3,258 146 1,744 1.000 18,916 27,617 2,500 3.600 3,258 146 22 701 1,880 701 1,880 968 1,508 484 1,508 472 77 9,437 472 419 10,120 33 598 22,319 336 87 33 336 260 598 22,319 18,916 89,809 13.025 10,008 3,004 134,762 Page 19
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 9 Analysis of support costs Support costs allocated to charitable activities Community Office Wivey Link Total 2024 Total 2023 Basis of allocation Rent 50.50 Light, heat and water 50.50 Insurance 50.50 Repairs and maintenance 50.50 Telephone 30.70 Computer costs 40.60 Printing, postage and stationery 30=70 Sundry expenses 50.50 Advertising 50.50 Accounlancy fees 50.50 Book keeping 50.50 Legal and professional fees 50.'50 Bank charges 50".50 Depreciation 50.50 Cleaning 50'.50 4.200 1,472 1,534 638 1,261 804 678 435 175 1,057 2,867 4,200 1,472 1,534 638 2,944 1,207 1.569 435 175 1.057 2.867 8,400 2,944 3,068 1,276 4,205 2,011 2,247 870 350 2,114 5,734 8,400 1,590 2,250 6,318 3,363 386 2,344 490 100 1,952 3,970 456 126 504 88 69 50 36 69 50 36 138 100 72 15,276 18,253 33,529 32,337 10 Trustees remuneration and expenses No trustees. nor any persons connected with them. have received any remuneration from the Charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 11 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Pension costs 47.937 1,096 41,405 638 49,033 42,043 Page 20
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 The monthly average number of persons (including senior management I leadership team} employed by the charity during the year was as follows.. 2024 No 2023 General No employee received emoluments of more than £60,000 during the year. Page 21
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 12 Taxation The charity is a registered charity and is therefore exempt from taxation. 13 Tangible fixed assets Office equipment Motor vehicles Total Cost At 1 April 2023 Additions 18,254 103,711 19,700 121.965 19,700 At 31 March 2024 18,254 123,411 141,665 Depreciation At 1 April 2023 Charge for the year 17,924 99 63,277 22,319 81,201 22,418 At 31 March 2024 18,023 85,596 103,619 Net book value At 31 March 2024 231 37,815 38,046 At 31 March 2023 330 40,434 40,764 14 Fixed asset investments 2024 2023 Aviva Investment Portfolio 32,715 55,401 Page 22
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 Olher investments Listed investments Total Cost or Valuation At 1 April 2023 Revaluation Disposals 55,401 2,314 25,000 55,401 2,314 25,000 At 31 March 2024 32,715 32,715 Net book value At 31 March 2024 32,715 32,715 At 31 March 2023 55,401 55,401 All inveslment assets are held in funds based in the UK. Listed investments are stated at market value. 15 Stock 2024 2023 Stocks 227 227 16 Debtors 2024 2023 Trade debtors Other debtors 8,070 6,143 1,924 5,716 14,213 7.640 17 Cash and cash equivalents 2024 2023 Cash at bank 125,483 113.360 Page 23
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 18 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other taxalion and social security Other creditors Accruals 3,938 590 19,998 2,148 2,065 6,740 4,048 26,674 12,853 19 Funds Balance atl April Incoming Resources 2023 resources expended Other recognised gainsl {lossesl Balance at31 March 2024 Transfers Unrestricted funds General Gen8ral 180,268 133.278 {152,8861 {1,0001 2,314 161,974 Designated Wivey House Remediations Library Remediations 5,500 500 6,000 500 500 5,500 1,000 6,500 Total unrestricted funds 185,768 133.278 152,886 2,314 168,474 Restricted funds Library Vehicle Modifications Library Remediations 13,337 2,934 12,399 {13,025) 12,6091 12,711 325 2,500 2.500 18.771 12,399 {15,634) 15,536 Total funds 204,539 145.677 168,520 2,314 184.010 Page 24
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at1 April Incoming Resources 2022 resources expended Transfers Other recognised gainsl (losses) Balance at31 March 2023 Unrestricted funds General General 192,181 119.205 {124,081) (5,000} 12,037) 180.268 Designated Wivey Hous8 Remediations soo 5,000 5,500 Total unrestricted funds 192,681 119.205 124,081 2,037) 185,768 Restricted funds Library Vehicle Modifications Library Remediations 14,782 3,967 2.500 14,612 1,000 116.057) {2,033) 13,337 2,934 2,500 21,249 15,612 18.090 18,771 Total funds 213,930 134,817 142.171 2.037 204,539 20 Analysls of net assets between funds Unre$tri¢ted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 38.046 32,715 124,387 (26.674) 168,474 38,046 32,715 139,923 (26,674 15,538 Total net assets 15,536 184,010 Unrestricted funds General Total funds at 31 March 2023 Restricted funds Tangible fixed assets Fixed asset investments Currenl assets Current liabililies 38,830 55,401 104,390 12,853 1,934 40,764 55,401 121,227 12.853 16,837 Total net assets 185,768 18,771 204,539 Page 25
Wiveliscombe Area Partnership Notes to the Financial Statements for the Year Ended 31 March 2024 21 Related party transactions There were no related party transactions in the year. Page 26