Company Registration No. 07329249
Charity No. 1138706
Transformation Cornwall
Financial Statements
31 December 2023
```
1
```
Transformation Cornwall
> Company Information For the year ended 31 December 2023
Trustees
Rt Revd Hugh Nelson Nicolas Herian (resigned 9 August 2023) Glyn Jones Donna Birrell Christopher Weston Justin Day (appointed 9 August 2023) Revd Matthew Noble (appointed 9 August 2023)
Independent Examiner Whyfield Ltd
Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing `Kent` ME19 4JQ
Registered Office Church House Woodlands Court Threemilestone Business Park Truro Cornwall TR4 9NH
```
2
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
The trustees present their report and accounts for the year ended 31 December 2023.
## Governing Document
Founded in 2010, Transformation Cornwall is a Joint Venture between the Diocese of Truro, the Methodist Church in Cornwall, Churches Together in Cornwall (CTC) and Church Urban Fund (CUF). Our priority is to strengthen and build the capacity and skills of the voluntary and faith sectors in Cornwall, focusing on social action and the relief of deprivation and poverty.
## Vision, Aims and Objectives
Our vision is to see faith action at the heart of flourishing communities in Cornwall. Our Mission is to strengthen social action across Cornwall.
We work in three main ways:
- Delivering the Meet the Funders programme.
- One to one bespoke support to individual churches, faith groups and grassroot organisations in
- Cornwall.
- Strengthening links- connecting faith based and non-faith organisations around our six core themes.
Activities and Achievements
## Meet the Funders
Meet the Funders is an innovative year-long programme providing conferences and workshops to inform, inspire and strengthen community work in Cornwall. Delivered in partnership with the Diocese of Truro, Meet the Funders supports projects that address poverty, exclusion, isolation, and rurality. Open to people and projects of all faiths and none, the programme provides conferences and workshops which give networking opportunities, advice, and support. The programme begins with a large annual spring event with invited local and national funders and follows with a series of smaller workshops. These workshops take participants through the key stages of developing, funding, and sustaining a community social action project. Throughout the programme, we collaborate with former Meet the Funders recipients to share their experiences of inspirational transformation, their project development path, and to help us share and celebrate best practise. We have been running Meet the Funders in various formats for the past 12 years, and it has a solid reputation among participants and funders alike. We remain delighted by our evaluations, attendances, and support from all involved.
## One-to-one support
Offering bespoke support and guidance to develop and strengthen social action projects in local communities. This assistance might range from clarifying a project's vision to developing and sustaining a project team, identifying possible funders, designing community consultation events, and organisafional governance. These requests for assistance come from a diverse range of organisations, many of which work with extremely vulnerable people and many of which are vulnerable themselves.
Our support spans the entire county of Cornwall, covering all aspects of six key themes as well as accessibility, diversity and inclusion.
```
3
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
## Strengthening links
Our strengthening links work is primarily focused around six main themes in which we are actively engaged: food poverty, mental health, modern slavery, homelessness, financial inclusion, and climate emergency. By utilising our 'Tools for Change' Toolkits, we are also able to respond to major concerns concerning equality and social justice. We are continuing to connect faith and mainstream communities around our core themes, promoting collaborafion and broadening the impact on our communities.
Our 2023 Strategic Work & Priorities for 2024
Throughout 2023 Transformation Cornwall continued its strategic work, we:
- continued our support to the Cornish Foodbanks
> • continued to support and campaign for a cash first approach to food insecurity, hosting a discussion forum and creating a written report with Independent Food Aid Network (IFAN), Trussell Trust and Cornwall Council, to improve financial access to those most in need, and reduce the need for emergency provision.
- achieved a cash first approach with Cornwall Council for the Household Support Fund.
- supported the Living Wage Foundation Campaign for Cornwall to be a Real Living Wage Place.
> • supported the voluntary, community and social enterprise (VCSE) sector working in mental health support, through sharing resources, funding opportunities and opportunities for collaboration to improve access to services.
- •supported the VCSE sector working in homelessness support and provision through funding and campaign support.
- strengthened our work in the fight against Modern Slavery through national partnerships and
- campaigns.
Our 2024 priorities are to:
- continue our support to the Cornish Foodbanks and drive forward financial inclusion and a cash-first
- approach.
- campaign for systematic change, directly impacting the drivers of emergency food provision.
- develop our service user engagement work particularly through our Meet the Funder attendees.
- strengthen our Partnerships to expand our project support work.
- develop our work in mental health and homelessness spheres to provide better access, dignity and
- empowerment.
## Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and projects.
```
4
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
## Financial review
The charity had an overall surplus of £22,777 for the year ending 31 December 2023 (2022: £11,957). A surplus of £23,161 has been added to the brought forward unrestricted funds to give a balance at year end of £64,985 and a deficit of £384 has been deducted from restricted funds brought forward to give a balance at year end of £0.
## Level of reserves
The trustees have considered the reserves of the charity. They consider that the balance at the yearend of £64,985 is required to help sustain the operations of the charity over the next twelve months.
## Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks.
## Organisational Structure
Trustees meet regularly during the year and are responsible for the strategic direction and policy of the charity. The board of trustees are responsible for the day to day running of the charity.
## Related Parties
There were no related party transactions.
## Small company provisions
This report has been prepared in accordance with the Statement of Recommended Practice: Statement of Recommended Practice for Charities (SORP 2015) and in accordance with the small companies regime (section 419(2)) of the Companies Act 2006.
This report was approved by the Board on the 16th July 2024 and signed on its behalf.
Rt Revd Hugh Nelson
Chair
Dated: 16 July 2024
```
5
```
## Transformation Cornwall
## Statement of Financial Activities For the year ended 31[t] December 2023
|Unrestricted
Notes
Funds
£
Income
Donations
3,911
Interest
1,664
Income from Charitable Activities:
Grants and Contracts
35,000
Total
40,575
Expenditure on:
Charitable Activities
2
17,414
Total
17,414
Net income/ (expenditure)
23,161
Total Funds at 1stJanuary 2023
`41,824`
Total funds carried forward
64,985|Restricted
Funds
£
63,116
63,116
63,500
63,500
(384)
`384`
|2023
`2022`
£
`f`
3,911
1,280
`1,664`
131
98,116
71,343
103,691
72,754
80,634
60,797
80,634
60,797
23,057
`11,957`
`42,208`
30,251
65,265
42,208|`2022`
`f`
1,280
131
71,343|
|---|---|---|---|
||||72,754|
||||60,797|
||||60,797|
```
6
```
## Transformation Cornwall
Balance Sheet as at 31[st] December 2023
|Notes
Fixed Assets
3
Current Assets
Cash at Bank
Current Liabilities
Creditors: amounts falling due within 12 months
4
Net Current Assets
Net Assets
Funds employed
5 & 6
UnrestrictedFunds
General Funds
`Restricted Funds`|2023
2,114
124,350
(61,478)
62,871
64,985
64,985
64,985|`2022`
519
91,281
(49,592)|
|---|---|---|
||
|41,689|
||
|42,208|
|||`41,824`
384
42,208|
For the year ended 31[st] December 2023:
The company was entitled to the exemption from audit under section 477 of the Companies Act 2006. The members have not requested the company to obtain an audit in accordance with section 476 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.
The financial statements were approved and authorised for issue by the trustees on 16[th] July 2024 and signed on their behalf by:
Rt Revd Hugh Nelson
Chair
7
Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023
## 1 Principal Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.
## (a) Basis of Preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2’[d] edition the Charities Act 2011 and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
> (b) Fund Accounting
> (i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
> (ii) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
> (iii) Restricted Funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## (c) Income
Income is included in the Statement of Financial Activities (SoFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
> (i) Income received by way of grants, donations and gifts is included in full in the SoFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant;
(ii) Donated services and facilities are included at the value to the charity where this can be quantified;
> (iii) The values of services provided by volunteers has not been included in these accounts;
> (iv) Investment income is included when receivable.
> (v) Income from charitable trading activity are accounted for when earned;
> (vi) Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
## (d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered.
> (i) Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
> (ii) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
> (iii) All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
## (e) Fixed Assets
Fixed assets are written off over the expected useful life of the asset on the reducing balance method at 20% per annum.
```
8
```
Transformation Cornwall
## Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 2 Expenditure on Charitable Activities
|Bankcharges
Computer and Internet Expenses
Depreciation Expense
Donations
Dues and Subscriptions
Event expenses and Room Hire
Independent Examination Fees
Insurance Expense
Meals and Entertainment
Miscellaneous Expense
Office Expense: Print Post stationery and photocopying
PayrollExpenses
note7
Professional Fees: Accounts, Book-keeping & Payroll
Travel
Training
3 Tangible Assets
Cost:
Balance brought forward
Additions
Balance carried forward
Depreciation:
Balance brought forward
Charge for the Year
Net book value at 31stDecember 2023
Net book value at 31stDecember 2022
4 Creditors
Sundry Creditors
Deferred Income — Trussel Trust|2023
75
1,377
529
194
1,148
1,486
500
415
126
147
828
70,219
1,006
1,878
985
80,913
Fittings
2023
7,020
54,458
61,478|2023
75
1,377
529
194
1,148
1,486
500
415
126
147
828
70,219
1,006
1,878
985
80,913
Fittings
2023
7,020
54,458
61,478|`2022`
83
1,866
130
831
267
(300)
789
69
452
782
53,825
475
1,528
`60,797`
& Equipment
4,105
2,124
6,229
3,586
529
4,115
2,114
519
`2022`
5,074
44,518
49,592|
|---|---|---|---|
|||61,478||
```
9
```
Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 5 Movements in funds
## At 31[st] December 2023:
|UnrestrictedFunds
Balance
brought fwd
`f`
General Fund
41,824
Restricted Funds
Donation
194
Trussel Trust
National Lottery Community Fund
RC South West Region
CornwallCommunity Foundation
190
384
Total
42,208
Comparative figures for 2022
Balance
brought fwd
UnrestrictedFunds
General Fund
30,251
Restricted Funds
Donation
Trussel Trust
National Lottery Community Fund
RC South West Region
Cornwall Community Foundation
Total
30,251
6 Analysis of net assets between funds
Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31*t December 2023|Income
`f`
40,575
41,320
21,046
750
63,116
103,691|
|---|---|
10
## Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 6 Analysis of net assets between funds (cont)
## Comparative figures for 2022
|Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31st December 2022
7 Employee Information
Number of employees
Receiving emoluments of less than £60,000.|General
Funds
519
46,379
(5,074)
41,824
2023
`2`|Restricted
Funds
44,902
(44,518)
384
2022
3|
|---|---|---|
The average weekly number of employees during the year were calculated on the basis of average monthly head count.
|Salaries and wages
Social Security Cost
Pension Contribution
8 Trustees Information|63,316
5,541
68,857
1,362
70,219
2023|48,975
3,870|
|---|---|---|
|||52,845
980|
|||53,825|
|||2022|
Trustees remuneration and expenses The trustees received no remuneration.
Related Party Transaction: There were none this year.
9 Capital Commitments and contingent liabilities There are none at 31[s][t ] December 2023.
11
## Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 10 Prior year comparative Statement of Financial Activities (SOFA)
|Unrestricted
Funds
£
Income
Donations
1,086
Interest
131
Income from Charitable Activities:
Grants and Contracts
43,215
Total
44,432
Expenditure on:
Charitable Activities
32,859
Total
32,859
Net income / (expenditure)
11,573
Total Funds at 1s*January 2022
30,251
Total funds carried forward
`41,824`|Restricted
Funds
£
2022
194
1,280
131
28,128
71,343
28,322
72,754
27,938
60,797
27,938
60,797
384
11,957
30,251
384
42,208|Restricted
Funds
£
2022
194
1,280
131
28,128
71,343
28,322
72,754
27,938
60,797
27,938
60,797
384
11,957
30,251
384
42,208|
|---|---|---|
|||42,208|
12
Company Registration No. 07329249
Charity No. 1138706
Transformation Cornwall
Financial Statements
31 December 2023
```
1
```
Transformation Cornwall
> Company Information For the year ended 31 December 2023
Trustees
Rt Revd Hugh Nelson Nicolas Herian (resigned 9 August 2023) Glyn Jones Donna Birrell Christopher Weston Justin Day (appointed 9 August 2023) Revd Matthew Noble (appointed 9 August 2023)
Independent Examiner Whyfield Ltd
Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing `Kent` ME19 4JQ
Registered Office Church House Woodlands Court Threemilestone Business Park Truro Cornwall TR4 9NH
```
2
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
The trustees present their report and accounts for the year ended 31 December 2023.
## Governing Document
Founded in 2010, Transformation Cornwall is a Joint Venture between the Diocese of Truro, the Methodist Church in Cornwall, Churches Together in Cornwall (CTC) and Church Urban Fund (CUF). Our priority is to strengthen and build the capacity and skills of the voluntary and faith sectors in Cornwall, focusing on social action and the relief of deprivation and poverty.
## Vision, Aims and Objectives
Our vision is to see faith action at the heart of flourishing communities in Cornwall. Our Mission is to strengthen social action across Cornwall.
We work in three main ways:
- Delivering the Meet the Funders programme.
- One to one bespoke support to individual churches, faith groups and grassroot organisations in
- Cornwall.
- Strengthening links- connecting faith based and non-faith organisations around our six core themes.
Activities and Achievements
## Meet the Funders
Meet the Funders is an innovative year-long programme providing conferences and workshops to inform, inspire and strengthen community work in Cornwall. Delivered in partnership with the Diocese of Truro, Meet the Funders supports projects that address poverty, exclusion, isolation, and rurality. Open to people and projects of all faiths and none, the programme provides conferences and workshops which give networking opportunities, advice, and support. The programme begins with a large annual spring event with invited local and national funders and follows with a series of smaller workshops. These workshops take participants through the key stages of developing, funding, and sustaining a community social action project. Throughout the programme, we collaborate with former Meet the Funders recipients to share their experiences of inspirational transformation, their project development path, and to help us share and celebrate best practise. We have been running Meet the Funders in various formats for the past 12 years, and it has a solid reputation among participants and funders alike. We remain delighted by our evaluations, attendances, and support from all involved.
## One-to-one support
Offering bespoke support and guidance to develop and strengthen social action projects in local communities. This assistance might range from clarifying a project's vision to developing and sustaining a project team, identifying possible funders, designing community consultation events, and organisafional governance. These requests for assistance come from a diverse range of organisations, many of which work with extremely vulnerable people and many of which are vulnerable themselves.
Our support spans the entire county of Cornwall, covering all aspects of six key themes as well as accessibility, diversity and inclusion.
```
3
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
## Strengthening links
Our strengthening links work is primarily focused around six main themes in which we are actively engaged: food poverty, mental health, modern slavery, homelessness, financial inclusion, and climate emergency. By utilising our 'Tools for Change' Toolkits, we are also able to respond to major concerns concerning equality and social justice. We are continuing to connect faith and mainstream communities around our core themes, promoting collaborafion and broadening the impact on our communities.
Our 2023 Strategic Work & Priorities for 2024
Throughout 2023 Transformation Cornwall continued its strategic work, we:
- continued our support to the Cornish Foodbanks
> • continued to support and campaign for a cash first approach to food insecurity, hosting a discussion forum and creating a written report with Independent Food Aid Network (IFAN), Trussell Trust and Cornwall Council, to improve financial access to those most in need, and reduce the need for emergency provision.
- achieved a cash first approach with Cornwall Council for the Household Support Fund.
- supported the Living Wage Foundation Campaign for Cornwall to be a Real Living Wage Place.
> • supported the voluntary, community and social enterprise (VCSE) sector working in mental health support, through sharing resources, funding opportunities and opportunities for collaboration to improve access to services.
- •supported the VCSE sector working in homelessness support and provision through funding and campaign support.
- strengthened our work in the fight against Modern Slavery through national partnerships and
- campaigns.
Our 2024 priorities are to:
- continue our support to the Cornish Foodbanks and drive forward financial inclusion and a cash-first
- approach.
- campaign for systematic change, directly impacting the drivers of emergency food provision.
- develop our service user engagement work particularly through our Meet the Funder attendees.
- strengthen our Partnerships to expand our project support work.
- develop our work in mental health and homelessness spheres to provide better access, dignity and
- empowerment.
## Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and projects.
```
4
```
Transformation Cornwall
Trustees' Annual Report For the year ended 31 December 2023
## Financial review
The charity had an overall surplus of £22,777 for the year ending 31 December 2023 (2022: £11,957). A surplus of £23,161 has been added to the brought forward unrestricted funds to give a balance at year end of £64,985 and a deficit of £384 has been deducted from restricted funds brought forward to give a balance at year end of £0.
## Level of reserves
The trustees have considered the reserves of the charity. They consider that the balance at the yearend of £64,985 is required to help sustain the operations of the charity over the next twelve months.
## Risk Management
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to the major risks.
## Organisational Structure
Trustees meet regularly during the year and are responsible for the strategic direction and policy of the charity. The board of trustees are responsible for the day to day running of the charity.
## Related Parties
There were no related party transactions.
## Small company provisions
This report has been prepared in accordance with the Statement of Recommended Practice: Statement of Recommended Practice for Charities (SORP 2015) and in accordance with the small companies regime (section 419(2)) of the Companies Act 2006.
This report was approved by the Board on the 16th July 2024 and signed on its behalf.
Rt Revd Hugh Nelson
Chair
Dated: 16 July 2024
```
5
```
## Transformation Cornwall
## Statement of Financial Activities For the year ended 31[t] December 2023
|Unrestricted
Notes
Funds
£
Income
Donations
3,911
Interest
1,664
Income from Charitable Activities:
Grants and Contracts
35,000
Total
40,575
Expenditure on:
Charitable Activities
2
17,414
Total
17,414
Net income/ (expenditure)
23,161
Total Funds at 1stJanuary 2023
`41,824`
Total funds carried forward
64,985|Restricted
Funds
£
63,116
63,116
63,500
63,500
(384)
`384`
|2023
`2022`
£
`f`
3,911
1,280
`1,664`
131
98,116
71,343
103,691
72,754
80,634
60,797
80,634
60,797
23,057
`11,957`
`42,208`
30,251
65,265
42,208|`2022`
`f`
1,280
131
71,343|
|---|---|---|---|
||||72,754|
||||60,797|
||||60,797|
```
6
```
## Transformation Cornwall
Balance Sheet as at 31[st] December 2023
|Notes
Fixed Assets
3
Current Assets
Cash at Bank
Current Liabilities
Creditors: amounts falling due within 12 months
4
Net Current Assets
Net Assets
Funds employed
5 & 6
UnrestrictedFunds
General Funds
`Restricted Funds`|2023
2,114
124,350
(61,478)
62,871
64,985
64,985
64,985|`2022`
519
91,281
(49,592)|
|---|---|---|
||
|41,689|
||
|42,208|
|||`41,824`
384
42,208|
For the year ended 31[st] December 2023:
The company was entitled to the exemption from audit under section 477 of the Companies Act 2006. The members have not requested the company to obtain an audit in accordance with section 476 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.
The financial statements were approved and authorised for issue by the trustees on 16[th] July 2024 and signed on their behalf by:
Rt Revd Hugh Nelson
Chair
7
Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023
## 1 Principal Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.
## (a) Basis of Preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 2’[d] edition the Charities Act 2011 and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
> (b) Fund Accounting
> (i) Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
> (ii) Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
> (iii) Restricted Funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
## (c) Income
Income is included in the Statement of Financial Activities (SoFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.
> (i) Income received by way of grants, donations and gifts is included in full in the SoFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant;
(ii) Donated services and facilities are included at the value to the charity where this can be quantified;
> (iii) The values of services provided by volunteers has not been included in these accounts;
> (iv) Investment income is included when receivable.
> (v) Income from charitable trading activity are accounted for when earned;
> (vi) Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
## (d) Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered.
> (i) Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
> (ii) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
> (iii) All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
## (e) Fixed Assets
Fixed assets are written off over the expected useful life of the asset on the reducing balance method at 20% per annum.
```
8
```
Transformation Cornwall
## Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 2 Expenditure on Charitable Activities
|Bankcharges
Computer and Internet Expenses
Depreciation Expense
Donations
Dues and Subscriptions
Event expenses and Room Hire
Independent Examination Fees
Insurance Expense
Meals and Entertainment
Miscellaneous Expense
Office Expense: Print Post stationery and photocopying
PayrollExpenses
note7
Professional Fees: Accounts, Book-keeping & Payroll
Travel
Training
3 Tangible Assets
Cost:
Balance brought forward
Additions
Balance carried forward
Depreciation:
Balance brought forward
Charge for the Year
Net book value at 31stDecember 2023
Net book value at 31stDecember 2022
4 Creditors
Sundry Creditors
Deferred Income — Trussel Trust|2023
75
1,377
529
194
1,148
1,486
500
415
126
147
828
70,219
1,006
1,878
985
80,913
Fittings
2023
7,020
54,458
61,478|2023
75
1,377
529
194
1,148
1,486
500
415
126
147
828
70,219
1,006
1,878
985
80,913
Fittings
2023
7,020
54,458
61,478|`2022`
83
1,866
130
831
267
(300)
789
69
452
782
53,825
475
1,528
`60,797`
& Equipment
4,105
2,124
6,229
3,586
529
4,115
2,114
519
`2022`
5,074
44,518
49,592|
|---|---|---|---|
|||61,478||
```
9
```
Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 5 Movements in funds
## At 31[st] December 2023:
|UnrestrictedFunds
Balance
brought fwd
`f`
General Fund
41,824
Restricted Funds
Donation
194
Trussel Trust
National Lottery Community Fund
RC South West Region
CornwallCommunity Foundation
190
384
Total
42,208
Comparative figures for 2022
Balance
brought fwd
UnrestrictedFunds
General Fund
30,251
Restricted Funds
Donation
Trussel Trust
National Lottery Community Fund
RC South West Region
Cornwall Community Foundation
Total
30,251
6 Analysis of net assets between funds
Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31*t December 2023|Income
`f`
40,575
41,320
21,046
750
63,116
103,691|
|---|---|
10
## Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 6 Analysis of net assets between funds (cont)
## Comparative figures for 2022
|Tangible Fixed Assets
Current Assets
Current Liabilities
Net assets at 31st December 2022
7 Employee Information
Number of employees
Receiving emoluments of less than £60,000.|General
Funds
519
46,379
(5,074)
41,824
2023
`2`|Restricted
Funds
44,902
(44,518)
384
2022
3|
|---|---|---|
The average weekly number of employees during the year were calculated on the basis of average monthly head count.
|Salaries and wages
Social Security Cost
Pension Contribution
8 Trustees Information|63,316
5,541
68,857
1,362
70,219
2023|48,975
3,870|
|---|---|---|
|||52,845
980|
|||53,825|
|||2022|
Trustees remuneration and expenses The trustees received no remuneration.
Related Party Transaction: There were none this year.
9 Capital Commitments and contingent liabilities There are none at 31[s][t ] December 2023.
11
## Transformation Cornwall
Notes to the accounts for the year ended 31[st] December 2023 (cont)
## 10 Prior year comparative Statement of Financial Activities (SOFA)
|Unrestricted
Funds
£
Income
Donations
1,086
Interest
131
Income from Charitable Activities:
Grants and Contracts
43,215
Total
44,432
Expenditure on:
Charitable Activities
32,859
Total
32,859
Net income / (expenditure)
11,573
Total Funds at 1s*January 2022
30,251
Total funds carried forward
`41,824`|Restricted
Funds
£
2022
194
1,280
131
28,128
71,343
28,322
72,754
27,938
60,797
27,938
60,797
384
11,957
30,251
384
42,208|Restricted
Funds
£
2022
194
1,280
131
28,128
71,343
28,322
72,754
27,938
60,797
27,938
60,797
384
11,957
30,251
384
42,208|
|---|---|---|
|||42,208|
12
Transformation Cornwall
Charity No: 1138706
Independent Examinerfs Report
I report to the trustees on my examination of the accounts of the above charity 1.the Trust")
for the year ended 31st December 2023.
Respon8ibilltles and basis of report
As the charity trustees of the Trust, you are responsible for the preparation of the account5 in
accordance with the requirements of the Charities Act 20111"the Act").
I report in respect of my examination of the Trust's atcounts carried out under section 145 of the
2011 Act and in carrying out my examination, I have followed the applicable Directions given by the
Charity Commisslon under section 14515llbl of the Act
Independent Examlner8' Statement
I have completed my examination. I confirm that no material matters have come to my attention
in connection with the examination which gives me cause to believe that in, any material respect..
l. accounting records were not kept in accordance with section 130 of the Act or
2. the accounts do not accord with the accounting record5
I have no ¢on¢erns and have come across no other matters in connection with the examination to
which attention should be drawn in order to enable a proper understanding of the accounts to be
reached.
Signed..
Date..
0810712024
Name..
Roxane Neave
Relevant professional qualificationl51 or body lif any)..
MAAT
Address.. Whyfield Limited
Ground Floor, Building A Green Court
Truro Business Park
Threemile5tone
Truro
Cornwall
TR4 9LF