Charity registration number 1135162
Company registration number 07013525 {England and Wales)
EXETER COMMUNITY CENTRE TRUST LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

EXETER COMMUNITY CENTRE TRUST LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms H M Reynolds
Mr R Coram
Ms G Richards
Ms J C Reynolds
Mr E J Glazier
(Appointed 22 June 2023)
Charity number
1135162
Company number
07013525
Principal address
17 St Davids Hill
Exeter
Devon
EX4 3RG
Registered offjce
17 St Davids Hill
Exeter
Devon
EX4 3RG
Accountants
Darnells Chartered Accountants
3rd Floor
The Forum
Bamfield Road
Exeter
Devon
EX1 1QR

EXETER COMMUNITY CENTRE TRUST LTD
CONTENTS
Page
Trustees, report
Independent examinerfs report
Statement of finanGial activities
Balance sheet
Notes to the accourrts
8-19

EXETER COMMUNITY CENTRE TRUST LTD
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accountinq policies set out in notes to the
financial statements and comply with the trust's governing document, the Companies Act 2006 and 'Accounting
and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with Ihe Financial Reporting Stsndard applicable in Ihe UK and Republic of Ireland IFRS 102)"
published in October 2019,
Objectives and activities
The trust's objects are to further or benefit the residents of Exeter and In partlcular the neighbourh¢)od of St.
David's without distinction of gender, sexual orientation, race or of political. religious or other opinions by
associating together with the said residents and the local authorities, voluntsry and other organisations in a
common effort to advance education and to provide facilities in the interests of social welfare for recreation
leisure time occupation with the objective of improving the conditions of life for the residents. There has been no
change in these during the year.
The trustees have paid due regard to guidan￿ issued by the Charity Commission in deciding what activities the
trust should undertake.
The aGtivity of the charity is that of the running and maintenance of the Exeter Community Centre at 17 St.
Davids Hill, Exeter in furtherance of its objectives as detailed above.
The trust's policy is to consult and discuss with employees and at meetings. matters likely to affed employees,
interests.
Information of matters of concem to employees is given through information bulletins. meetings and reports
which seek to achieve a common awareness on the part of all employees of the financial and economic factors
affecting the centre's perfomiance.
Achievements and performance
This year our focus has been on rebuilding our sessional Income base. By the end of March 2024 we had
reached our sessional income target match to MarGh 2020. before the pandemic closed the Centre for a year.
We kept our laase fees to 2019 levels again for this current year to help our tenants. Our tenants help vulnerable
people across a diverse range of support including refvgees and asylum seekers, and those with physical,
mental and sensory health issues. Although this year of Covid recovery has been difficult financially for them
we are fortunate that none had to leave us and we have this year welcomed another tenant organisation to the
Centre.
In May 23 we carried out our annual 'how are we doing ' suNey. of Centre users and tenants with a one-day
online survey backed by paper copies available in the building. The results (142 responses) showed us:
25 /v of responders are frequent users of the Centre
55 % of those who responded use the Centre sometimes
For 20Yo of those who responded this was theirfirst visit
160/0 of users consider they have a health or leaming issue - physical, mental, sensory. neurodlvergent
or learning disability
250/a of users are aged 19- 40
490/0 of users are aged 41- 65
26 % are over are aged over 65
Most people are visiting the Centre for meetings or classeslworkshops.

EXETER COMMUNITY CENTRE TRUST LTD
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Although we do have users of Ihe Centre aged under 19. in the main these are Saturday classes bookings and
therefore did not feature in this survey.
The 'friendliness of the staff and volunteers. was overwhelmingly the key thing that users like about the Centre -
fed back by trustees with gratitude to the Centre Manager and other staff. 'Characterful, historic building, and its
'accessibility' were also key reasons for positive responses. As the trustees have carried out a major heritage re-
development of the Centre building over the last 10 years. it was h8artening to hear that this was welcomed by
local people and other user5 of the building.
We have continued this year with our on-going maintenance of the fabric of the building. Despite our efforts with
minor roof repairs, the many 'valley gutters, of such a large building can let in water when it rains heavily. The
Centre Manager is constantly vigilant for any signs of re-appearance of dry rot, with builders replacing any
suspect wood before rot spores spread. We carry out regular roof inspections for slipped tiles or missing cement
fillet. We have a re-painting programme for the ground floor of the building and a maintenance programme of
professional support in the garden to assist the garden volunteers wilh more technical aspects of the garden's
maintenance.
We have this year also commissioned an environmental assessment of the building with the support of a grant
from Groundwork. A5 the building is Grade 2 listed and huge at 1800 sq. metres. there is little we can do in terms
of insulation above what insulation we have already put in the roof space. We have concentrated on making the
building as energy efficient as we can by deciding to replace the blinds to the windows to keep heat in and
reduce the draw on electrlcity, reduclng our carbon footprint whilst at the same time keeping our electricity bills
down as much as we can. Following the findings from our energy survey we have made application for funding
to repla￿ our lighting. throughout the building with LED bulbs and await the decision. Full fibre broadband
cabling has now been made into the building, enabling our users and tenants to have a faster digital connection.
This year we held a combined AGM with our local sister organisation. St David's Neighbourhood Partnership -
both to report back the year's progress at the Centre and also to report and discuss other matters of interest to
the local community. 63 people attended this 'twilight' meeting. Although no additional volunteers came foNard
for the Centre. which was one aim of the meeting. the founder trustees and committee members of both
organisations re-iterated their commitment to remain in role for another year.
We contlnue to have an open invitation to local people to loln our board and have been fortunate this year to
recruit a new trustee who is also a new resident in St David's. His enthusiasm and practical help has been
instrumental, with the Centre Manager's assistance. in the painting of both our adopted K6 phone boxes and the
acquisition of a defibrillator which is now installed in one of the phone boxes. We are now negotiating the siting
of a heritage interpretation board to give information to passers-by about these as part of the street heritage of Sl
David's.
We have been able also to bring back our Book Exchange Corner. which was removed during building work. By
resiting the Book Exchange Comer nearer the front door, with new shelves, it is getting increased engagement
by the community.
We engaged once again in the Exeter'Heritage Week, events, with tour5 of the Centre, St David's and the local
'painted lampposts, conducted by our trustees. These have given us an opportunity to engage with local people
as well as tourists. showing off the St David's area and the Centre. Our veg box garden has been ended again
this year by the pupils of next door St David'5 Primary, maintsining our good links with the sGhool.
As always, it is the continuing commitment of the staff which keeps the day to day operation of the Centre
running. improving, going from strength to strength. The trustees thank them
and in particular the Centre
Manager - for another year of their hard work. l. as Chair also thank the trustees. as alway5, for their vision,
humour and support.

EXETER COMMUNITY CENTRE TRUST LTD
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
Cash Flow
The current account bank balance at the end of March 2024 was £51k with the deposlt accounts at £199k which
is broadly in line with the balance at the previous year end.
BudgetslSOFA
Income
Sessional hire income has continued to grow in 2024 and lease income has also continued to improve. Grant
income was minimal this year but post year end. the trustees have successfully applied for project specific
grants.
Expenditure
SIB interest continued to be charged at an interest rate of 0.5Y. to March 2024. Grant expenditure is not
technically operational so should be monitored against the grant income.
Balance sheet
The SIB Loan has decreased by £19k due to a capital repayments made (balance £911k at end of Mar 2024). No
property improvements were made during the year.
Trade debtors
This figure has increased by £2.6k to £11.6k when compared to March 2023 which is due to the increase within
customer invoicing due to centre being open more.
Reserves
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to six month's expenditure. The trustees considers that reserves at this level will
ensure that. in the event of a significant drop in funding, they will be able to continue the trust's current activities
while consideration is given to ways in which additional funds may be raised.
Risk management
The trustees have assessed the major risks to which the trust 15 exposed, and are satisfied that systems are in
place to mitigate exposure to the major risks.
The charity plans to continue the activities outlined above in the forthcoming years. In particular to remain the
centre for the local community where individuals and groups c3n make the m05t of the wide variety of spaces
and activities offered.
Structure, govemance and management
The trust 15 controlled by its governing document, a deed of trust, and constitutes a limited company, limited by
guarantee. as defined by the Companies Act 2006.
The trustees. who are a150 Ihe directors for the purpos8 of company law, and who served during the year and up
to the date of signature of the financial statements were:
Ms H M Reynolds
Mr R Coram
Ms G Richards
Ms J C Reynolds
Mr E J Glazier

EXETER COMMUNITY CENTRE TRUST LTD
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Recruitment and appointment of trustees
lJndp.r thp. rp.qiiirpmp.nt.q of the Articles of Association. trLlStees are elect&d for a period of three years after which
they must be re-elected at the nextAnnual General Meeting. Trustees annually review the period of service.
The board of trustee5 regularfy discusses the recruitment of new trustees for their experience, empathy and
knowledge of the charity, and to keep the skills and composition ofthe trustee body as a whole and succession
planning under review.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed by the
trustees from the charity are set out in notè 8 to the financial statements.
Organisational structure
The charity Is administered by a board of directors who are also trustees. The day to day running of the charity is
overseen by the Centre Manager, who reports to the trustees.
The trustees met for business meetings in December, March, May. July and September.
The trustees, report was approved by the Board of Trustees.
Ms H M Reynolds
Trustee
13.1.kn2*

EXETER COMMUNITY CENTRE TRUST LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF EXETER COMMUNITY CENTRE TRUST LTD
I report on the financial statemenls of the trust for the year ended 31 March 2024, which are set out on pages 6 to
Respectlve responslbllltles of trnstees and examiner
The trust's trustees. who are also the directors of Exeter Community Centre Trust Ltd for the purposes of
company law. are responsible for the preparation of the accounts. The trustees consider that an audit is not
required for this year under section 144(2) of the Charilies Act 2011 {the 2011 Act) and that an independent
examination is needed. The charity's gross income exceeded £25,000 and l am qualified to undertake the
examination being a qualified member of ICAEW.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for Independent
examination, it is my responsibility to:
examine the financial statements under section 145 of the 2011 Act:
(li) to follow the procedures laid down in the general Dire¢lions given by the Charity Commission under section
14515){b) of the 2011 Act.. and
(iii) to stste whether particular matters have come to my attention.
Basis of independent examinerfs report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An
examination includes a review of the accounting ￿COrdS kept by the charity and a comparison of the financial
statements presented with those records. It also includes consideration of any unusual items or disclosures in the
financial statements. and seeking explanations from you as trustèes conceming any such matters. The
procedures undertaken do not provide all the evidence that would be required in an audit and consequently no
opinion is given as to whether the financial statements present a 'true and fair view, and the report is limited to
those matters set out in the next statement.
Independent examinerfs statement
In connection with my examination, no matter ha5 come to my attention:
(a) which gives me reasonable cause to believe that in any material respect the requirements:
(i) to keep accounting record5 in accordants with section 386 of the Companies Act 2006: and
(li) to prepare financial statements which accord with the accounting records. comply with the accounting
requirements of section 396 of the Companies Act 2006 and with the methods and principles of the
Statement of Recommended Practice: Accounting and Reporting by Charities;
have not been met or
Ib) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
financial statements to be reached.
Damells Chartered Accountants
,hi 14iw
Sean Murphy FCA
3rd Floor
The Forum
Bamfield Road
Exeter
Devon
EX11QR
Dated..

EXETER COMMUNITY CENTRE TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Total
2024
2023
Notes
Income from:
Donations and legacies
Charitable acttvities
Investments
350
33
350
243.335
4,870
79.169
200.345
1,329
243,302
4,870
Total income
248.172
383
248.555
280,843
nditure on:
Charitsble activities
215.909
12,745
228,654
303,340
Exceptional impairment losses
488.553
Total resources expended
215.909
12.745
228,654
791,893
Net In¢omel(expenditure) for the yearl
Net movement in funds
32,263
(12,362)
19,901
1511,050)
Fund balances at 1 April 2023
127,791
702.343
830.134 1.341.184
Fund balances at 31 March 2024
160,054
689.981
850.035
830,134
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recogni5ed in the year. All income and expenditure
deriv8 from continuing activities.
The statement of financial activities also complies with the rèquirements for an income and expenditure account
under the Companies Act 2006.

EXETER COMMUNITY CENTRE TRUST LTD
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
12
1,537,902
1,541,222
13
20,173
251.055
16.356
249,875
271,228
266,231
Creditors: amounts falling due within
one year
15
(48.173)
(46,947)
Net current assets
223,055
219.284
Total assets less current liabilities
1,760,957
1.760,506
Creditors: amounts falling due after
more than one year
16
(910.922)
(930,372)
Net assets
850,035
830.134
Income funds
Restricted funds
Unrestricted funds
18
689.981
160,054
702.343
127.791
850.035
830,134
The company is entitled to the exemption from the audit requirem8nt contained in section 477 of the Companies Act
2006. for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to oblain an audit of its financial statements for the year in question
in accordance with section 476.
These financial statements have been prepared in accordance with the prowsions applicable to Gompanies subject
to the small companies regime.
The financial statements were approved by the Trustees on .
Mr E J Glazier
Trustee
Company Reglstration No. 07013525

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charlty Information
Exeter Community Centre Trust Ltd is a private company limited by guarant88 incorporated in England and
Wales. The registered office is 17 St Davids Hill, Exeter, Devon. EX4 3RG.
1.1 Accounting Conventlon
The financial statements have been prepared in accordance with the accounting policies set out in notes to
the accounts ar¢d comply with the charity's governing document, the Charities Act 2011 and Accounting and
Reporting by Charities: Statement of Recommended practi￿ applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Rapublic of Ireland published in
October 2019.°
The financial statements are prepared in sterling. which is the functional currency of the trust. Monetary
amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
The accounts are prepared on a going concern basis which means that the charity can pay its debts as they
fall due for the next twelve months.
The charity is reliant on the continued positive support of its only lender. The Social Investment Business,
who have being extremely supportive of the project. In the last few years The Social Investment Business
have provided a temporary restructuring of the loan interest payable and a capilal repayment holiday. This
support is still ongoing.
The Trustees of the Charity work extremely closely with The Social Investment Business and have no reason
to question their continued support to the project and hence feel it is appropriate to prepare the accounts on a
going concem basis.
The stsff and trustees are working very hard to steer the Trust through these uncertain times and believe that
with the continued support of key stakeholders the Trust will survive and prosper.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
trusL
1.4 Incoming resources
Income is recognised when the trust is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that inGome will be received.
Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of
the donation, unless performance conditions require deferral of the amount.

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles
(Continued)
All incoming resources are recognised once the charity has entitlement to the resources. it Is certain that the
resources will be received and the monetary value of incoming resources can be measured with sufficient
reliability.
Income from donations and granls, including capital grants. is included in incoming resources when these are
receivable,
except
as
follows:
when donors specify that donations and grants given to the charity must be used in future accounting
periods.
the
income
is
deferred
until
those
periods-
and
when donors impose conditions which have to be fulfilled before the charity becomes entl￿ed to use such
income;
the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts
receivable for goods and services provided in the normal course of business and net of discounts.
1.5 Resources expended
Liabilities are recognised as resourceoe expended as soon as there is a legal or constructive obligation
committing the charity to the expenditure. All expenditure is accounted for on the accruals basis and includes
irrecoverable VAT. Expenditure is allocated to activities on the direct usage basis.
Costs incurred wholly or mainly in support of generating funds. or in support on the objects of the charity and
being an integral part of the cost of carry out those activities, are included within Ch81itsble Expenditure as
appropriate.
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at cost and subsequentty measured at G05t or valuation. net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Land and buildings
Plant and machinery
Not depreciated
25010 reducing balance
The gain or loss arising on the disposal of an asset 15 detemined as the difference be￿een the sale
proceeds and the carying value of the asset. and is reGognised in the statement of financial activities.
There is no depreciation provided against the carying value of the freehold land and buildings. This not in
accordance with the Ststement of Recommended Practice applicable to charities preparing their accounts in
aGcordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in
October 2019. The Trustees believe that given the nature of the building and the impairment in 2023, Ihe
residual value will always equal or exceed the carying value in the accounts.
1.7 Impairment of fixed assets
At each reporting end date. the trust reviews the carrying amounts of its tsngible assets to determine whether
there is any indication that those assets have suff8red an impairment loss. If any such indication exists. the
recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policles
(Continued)
1.9 Financial instruments
The trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with th8 net amounts presented in the financial statements, when
there is 8 legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets. which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction. where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
dassified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost. using the effective interest rate method.
Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If noL they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognltlon of financial liabilities
Financial liabilities are derecognised when the trust's contraclual obligations expire or are discharged or
cance118d.
1.10 Retirement benefits
Payment5 to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Donations and legacles
Restricted Unrestricted Restricted
funds
funds
funds
Total
2024
2023
2023
2023
Donations and gifts
Grants reGeivable
26
26
79.143
350
79,143
350
26
79,143
79.169
10-

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Room hire
Lease & service charges
133,092
110,243
123,000
77.345
243.335
200.345
Analysis by fund
Unrestricted funds
Restricted funds
243,302
33
200,345
243,335
200.345
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
4,870
1,329

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Staff costs
Depreciation and impairment
Rates and water
Security and facilities
Insurance
Telephone
Heat and light
Cleaning and hygiene
Printing. postage. stationery and computer
Consultancy and subcontractors
Repairs and maintenance
Bad debt expense
Subscriptions
Motor and travelling
Bank charges and loan interest
Sundries
114,630
12,632
2.884
3,094
6,484
1,180
30.561
27.082
2.007
953
17.873
386
228
190
4,651
339
123.218
62,891
2,995
2,401
5,712
983
30,514
23,081
2,092
14.179
26.341
411
120
4,586
233
225.174
299.757
Share of govemance costs (see note 6)
3.480
3,583
228.654
303,340
Analysis by fund
Unrestricted funds
Restricted funds
215.909
12,745
247,760
55,580
228.654
303,340
Support cost5
Support Governance
costs
costs
2024
2023 Basis of
allocatlon
Accountancy and bookkeeping
3,480
3,480
3.583 Govemance
3,480
3.480
3,583
Analysed between
Charitable activities
3,480
3,480
3,583
Governance costs includes payments to the independent examiners of £2,830 (2023-
£2.903) for independent examiners fees.

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Net movement in funds
2024
2023
The net movement in funds is stated after chargingllcrediting)=
Depreciation of owned tangible fixed assets
Impaimient of owned tangible fixed assets
12.632
62,891
488.553
Trustees
None of the trustees (or any persons connected with them) recéived any remuneration during the year, and
none of them were reimbursed for mileage.
Employees
The average monthly number of employees durlng the year was:
2024
Number
2023
Number
Centre Manager
Support Staff
Totsl
Employment costs
2024
2023
Wages and Salaries
Social security costs
Other pension costs
109,352
2,294
2.984
116.976
3,398
2,844
114.630
123,218
There were no employees whose annual remuneration was £60.000 or more.
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Impalrments
Impaimient tests have been carried out where appropriate and the following impairment losses have been
recognised in profit or loss..
2024
2023
In respect of:
Property, plant and equipment
488.553
As part of the process to refinance the loans provided by the Social Investment Business Bank the trust
property was independently valued by Stratton Creber Commercial in January 2023. A fair value of the
property was concluded to be £1.5m. The 2023 accounts reflect an impairment of £488.553 to reduce the
carrying value in the accounts to £1.5m.
12 Tanglble fixed assets
Land and
buildings
Plant and
machinery
Total
Cost
At 1 April 2023
Additions
2,457.483
176.266 2,633,749
9.313
9,313
At 31 March 2024
2.457,483
185,579 2,643,062
Depreciation and impairment
At 1 April 2023
DeP￿ClatiOn charged In the year
957.483
135.045 1.092.528
12.632
12,632
At 31 March 2024
957,483
147.677 1.105.160
Carrying amount
At 31 March 2024
1.500.000
37.902 1,537,902
At 31 March 2023
1,500,000
41.222 1.541,222
There is no depreciation provided agalnst the carrying value of the freehold land and buildings. This not in
accordance with the Statement of ReGommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in
October 2019. The Trustees believe that given the nature of the building and the impairment in 2023, the
residual value will always equal or exceed the carrying value in the accounts.
14.

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued inGome
11,289
8,884
8,982
7,374
20,173
16,356
14 Loans and overdrafts
2024
2023
Bank loans
930.315
949,763
Payable within one year
Payable after one year
19,393
910.922
19,391
930,372
The long-term loans are secured by fixed charges over the propety in which the charity operates from.
Bank loans are amounts borrowed from the Social Investment Business (Community Builders Fund) for the
refurbishment of the Centre. The bank is being very supportive and only charging a minimal interest rate and
has agreed a lower repayment of £2.000 per month, which is significantly less than its original contracted
amount. The Trustees and the bank are working on the basis that the loans will need to be refinanced In 2026.
15 Creditors: amounts falling due within one year
2024
2023
Notes
Bank loans
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
14
19.393
1,866
12,038
19.391
1.867
11.850
329
13,510
14,876
48,173
46,947
16 Creditors: amounts falling due after more than one year
2024
2023
Notes
Bank loans
14
910.922
930,372

EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Retirement benefit schemes
2024
2023
Defined contribution schemes
Charge to proftt or loss in respect of defined contributlon schemes
2.984
2,844
The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the trust in an independently administered fund.
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EXETER COMMUNITY CENTRE TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Unrestricted funds
The unre%trirtp.d fiJnd8 nf thp. rthxrity c.nmprisp the une.xpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 April
2023
Incoming
resources
Resources At 31 March
expended
2024
General funds
127,791
248.172
(215,909)
160,054
Previous year:
At 1 April
2022
Incoming
resources
Resources At 31 March
expended
2023
General funds
173.851
201,700
(247,760)
127,791
20 Analysis of net assets between funds
Unrestricted Restricted
2024
2024
Total Unrestricted
2024
2023
Restricted
2023
Total
2023
Fund balances at 31
March 2024 are
represented by..
Tangible assets
Current assetsl(liabilities)
Long term liabilities
1.537,902
223,055
(910,922)
1.537.902
1,541.222
223.055
219.284
(910,922) (930,372)
1,541,222
219,284
(930,372)
850.035
850,035
830.134
830.134
21 Related party transactions
Remuneration of key management personnel
The key management personnel of the charity comprise the managers. The total remuneration of key
management personnel during the period was"
2024
2023
Aggregate compensation
32,984
35,146