**COMPANY REGISTRATION NUMBER: 07546840 CHARITY REGISTRATION NUMBER: 1140896**
## **Torbay Community Development Trust Ltd Company Limited by Guarantee Financial Statements**
**31 March 2022**
## **WESTCOTTS (SW) LLP**
Chartered Accountants & Statutory Auditors 26-28 Southernhay East
Exeter Devon EX1 1NS
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Financial Statements**
## **Year ended 31 March 2022**
||**Pages**|
|---|---|
|Trustees' annual report (incorporating the director's report)|**3 to 8**|
|Independent auditor's report to the members|**9 to 13**|
|Statement of financial activities (including income and||
|expenditure account)|**14**|
|Statement of financial position|**15**|
|Statement of cash flows|**16**|
|Notes to the financial statements|**17 to 34**|
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)**
## **Year ended 31 March 2022**
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.
## **Trustees Report**
## **Structure, governance and management**
All Trustees have to be an individual member or an authorised representative of a general member. The number of Trustees must not be less than three but there is no maximum. At each general meeting one third of the Trustees retire from office. If there is only one Trustee he or she must retire. The Trustees to retire by rotation are those who have been longest in office since their last appointment. Trustees may offer themselves for re-election for up to a maximum of two consecutive terms, plus an an additional two years for a specific skill set. A robust selection process was undertaken to form a new substantive board for the Trust in 2014, asking for people interested and able to support the range of governance activities, e.g. Business Planning, HR and Legal to take on an outward facing role, supporting the sector in the domains of community life, e.g. Health and Care, Faith and Belief, Sport and Leisure. New Trustees have joined the Board since then also contributing to the skills base.
The Directors of the charitable company (the Charity) are its Trustees for the purpose of the Charity law and throughout this report are collectively referred to as the Trustee. The Trustees serving during the year and since the year end are listed on page 2 of the accounts.
## **Objectives and activities**
The objects of the charity are:
1. To promote any charitable purposes for the benefit of the public, principally but not exclusively in the local Government area of Torbay and its environs (hereinafter called the 'Area of Benefit') and, in particular, build the capacity of third sector organisations and provide them with the necessary support, information and services to enable them to pursue or contribute to any charitable purpose.
2. To promote, organise and facilitate cooperation and partnership working between third sector, statutory and other relevant bodies in the achievement of the above purposes within the area of benefit.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
## **Strategic report**
The following sections for achievements and performance and financial review form the strategic report of the charity.
## **Achievements and performance**
Our work over 2021/22 continued to be led by our overall purpose of **Enabling Torbay to be a place where all feed included and can be involved in growing a connected, vibrant, thriving, creative, and prosperous community** and our strategic aims of:
**- Encouraging people to do what they do best to connect and contribute to what they care about**
**- Supporting groups to thrive through networks, communication and consultation**
**- Making connections, stimulating cooperation and new ways of working – creating the space for collaboration.**
**- 3 -**
2021/22 continued to be a challenging time for the community of Torbay as we adjusted to a second year of the global pandemic. By the close of the year the community was beginning to open up again and something resembling normality was returning.
The TCDT was successful in responding to the varying needs of the community and our local voluntary sector organisations. The Community Helpline continued to be hosted by the TCDT and develop further support with an expansion in requests particularly for food parcels, financial advice and mental health support. By the close of the year call numbers to the Helpline had increased to 500 per week – more than in the second two Covid-related lock downs. Volunteers from the Helpline were mobilised to help at our local Vaccination Centres with over 300 people actively engaged in the daily shifts marshalling the public. This was one of the largest volunteering efforts Torbay has seen. The Helpline also expanded its work to support residents discharged from hospital offering practical support and companionship where needed, and in partnership with Living Options Helpline staff also checked in with residents who are awaiting surgery and procedures delayed due to the pandemic.
The Community Building team continued to make connections and stimulate activity in the 30 neighbourhoods of Torbay. By the end of this financial year the Community Builders had supported 3,117 isolated older people, worked with over 1,700 ‘connectors’ in the community and enabled 528 Timebank members to exchange 21,366 hours. A priority for this year was to offer opportunities for people to emerge from the isolation of the pandemic in a safe and confident way. The team also began a process of restructuring to prepare for an expansion of their role to work with vulnerable people of all ages.
The National Lottery Community Fund extended its support to the Ageing Well programme for an additional year – allowing us to support isolated older people with new initiatives including digital inclusion and mental health support.
Our work to support local voluntary organisations continued to focus on fundraising. During the year we undertook 92 funding searches, provided support for 186 funding bids resulting in £1,290,000 of additional funding and provided 42 hours of general advise on Governance, Strategy etc.
Associated Programmes of the organisation continued. Our former office in Torquay continued in its new role as Community Café and Help Hub. Our Positive People and Steps Forward projects continued to reach out to those furthest away from the labour market and those recovering from addiction. SENDIASS continued to offer information advice and support to young people with special educational needs, and their families. Our Ourbus community transport scheme continued to provide 2 scheduled bus services – the 61 and the 65. Volunteer drivers also provided invaluable support in delivering food parcels to those we were isolating. We continued to coordinate the Imagine This… partnership of – now 53 – organisations supporting children, young people and families. This year we also received funding to coordinate the Local Motion initiative – a substantial investment in the Bay of 6 major UK donors to bring about transformational change in the areas of support to local families and food security.
We are proud of what we have managed to achieve in a fast-paced ever-changing 12 months. We would like to highlight here the amazing work of our team of staff and volunteers in this respect. This year saw us serving the community within and coming out of a pandemic. Our teams went above and beyond to support people in need. A huge thank you to them all.
## **Financial Review**
The total income for the year has increased from £2,278,858 to £2,926,487 due to introducing the Torbay Helpline as a response to the global pandemic. The surplus for the year is £492,166. As at the 31 March 2022 the total funds of the charity were £1,314,208 (2020: £822,042) of which £58,507 (2021: £180,9430) was attributable to unrestricted funds and £1,255,701 (2021: £541,099,) was attributable to restricted funds.
Sadly, this financial year we fell victim to a very sophisticated cyberattack. The attack caused a loss of funds which needed to be covered by our core reserves (see note 14) . The perpetrator intercepted an employee’s email account and our accounting system, then acted as if they were the employee to both send and approve invoices to be paid. They had been monitoring the employees emails for quite some
**- 4 -**
time in order to mimic their typing mannerisms and also gained personal details to make their correspondence more convincing. The invoices were sent over to the finance team over the period of 6 weeks. Upon realisation of the attack the Finance Manager immediately notified the Trustees and robust actions were immediately implemented in consultation with the Charity Commission. Staffordshire police are still investigating the attack and may have a lead to the perpetrator, although we have been told that it’s unlikely that we will be able to recover any of the loss, we may be able to prosecute.
## **Reserves Policy**
The tangible fixed assets of the charity comprise:Fixtures, fittings and computer equipment at 4-8 Temperance Street Torquay, TQ2 5PU Vehicles comprising 2 Community Transport buses.
The Trustees consider that these assets are necessary for the current activities of the Charity and are to be retained or replaced as required. Provision is currently made for depreciation on: Property improvements Straight Line over 10 years Fixtures and Fittings 20 reducing balance per annum Computer Equipment Straight line over four years Vehicles Straight line over the estimated useful life of the vehicle
The Trustees have reviewed the reserves of the Charity and consider the current level of reserves necessary to fund the continuation of the Charity taking into account the following requirements:The charity needs to maintain a general reserve (Unrestricted General Fund) to enable services to continue uninterrupted for approximately three months, together with a provision for redundancy costs (calculated to be £52,053.24 as at 31st March 2022) and other expenses if the charity ceases to operate.
## **Risk Review**
The Trustees have reviewed the major risks to which the Charity is exposed on a regular basis and systems are in place to mitigate these risks.
**- 5 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
**Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
**Year ended 31 March 2022**
|**Reference and administrative details**|**Reference and administrative details**||
|---|---|---|
|**Registered charity name**|Torbay Community Development|Trust Ltd|
|**Charity registration number**|1140896||
|**Company registration number**|07546840||
|**Principal office and registered**|4 - 8 Temperance Street||
|**office**|Torquay||
||TQ2 5PU||
|**The trustees**|Mr C Forster|(Retired 30 April 2021)|
||Mr J Parker||
||Mr D J Cowell|(Retired 31 January 2022)|
||Mr J K Gunson||
||Mr R J Higman||
||Mrs A Manning||
||Mrs S Martin|(Appointed 30 April 2021)|
||Mrs J Stockman|(Retired 31 January 2022)|
||Ms J Colin|(Appointed 1 November 2021)|
|**Auditor**|Westcotts (SW) LLP||
||Chartered Accountants &Statutory Auditors||
||26-28 Southernhay East||
||Exeter||
||Devon||
||EX1 1NS||
|**Bankers**|CAF Bank Ltd||
||25 Kings Hill Avenue||
||Kings Hill, West Malling||
||Kent||
||ME19 4JQ||
**- 6 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 March 2022**
## **Trustees' responsibilities statement**
The trustees, who are also directors for the purposes of company law, 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).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the applicable Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Auditor**
Each of the persons who is a trustee at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
- they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
**- 7 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_
## **Year ended 31 March 2022**
## **Small company provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 25[th] November 2022 and signed on behalf of the board of trustees by:
Jo Colin Chair of Trustees
**- 8 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Torbay Community Development Trust Ltd**
## **Year ended 31 March 2022**
## **Opinion**
We have audited the financial statements of Torbay Community Development Trust Ltd (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
**- 9 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Torbay Community Development Trust Ltd** _**(continued)**_
## **Year ended 31 March 2022**
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees' report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
**- 10 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
**Independent Auditor's Report to the Members of Torbay Community Development Trust Ltd** _**(continued)**_
## **Year ended 31 March 2022**
## **Responsibilities of trustees**
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the Trustees and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. o The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation. o Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non-compliance with all laws and regulations.
**- 11 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Torbay Community Development Trust Ltd** _**(continued)**_
## **Year ended 31 March 2022**
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
**- 12 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Independent Auditor's Report to the Members of Torbay Community Development Trust Ltd** _**(continued)**_
## **Year ended 31 March 2022**
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
21 December 2022
Shona Godefroy FCCA (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP Chartered Accountants & Statutory Auditors 26-28 Southernhay East Exeter Devon EX1 1NS
**- 13 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Statement of Financial Activities (including income and expenditure account)**
## **Year ended 31 March 2022**
||||**2022**||2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|||
|||funds|funds|**Total funds**|Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|1,000|4,687|**5,687**|6,880|
|Charitable activities|**6**|235,188|2,680,491|**2,915,679**|2,253,399|
|Investment income|**7**|51|–|**51**|107|
|Other income|**8**|5|5,065|**5,070**|18,472|
|||`─────────`|`────────────`|`────────────`|`────────────`|
|**Total income**||236,244|2,690,243|**2,926,487**|2,278,858|
|||`═════════`|`════════════`|`════════════`|`════════════`|
|**Expenditure**||||||
|Expenditure on raising funds:||||||
|Costs of other trading activities|**9**|6,668|39,295|**45,963**|15,192|
|Expenditure on charitable activities|**10,11**|115,766|2,147,227|**2,262,993**|2,030,277|
|Other expenditure|**14**|125,365|–|**125,365**|–|
|||`─────────`|`────────────`|`────────────`|`────────────`|
|**Total expenditure**||247,799|2,186,522|**2,434,321**|2,045,469|
|||`═════════`|`════════════`|`════════════`|`════════════`|
|||`─────────`|`────────────`|`────────────`|`────────────`|
|**Net income**||(11,555)|503,721|**492,166**|233,389|
|||`═════════`|`════════════`|`════════════`|`════════════`|
|Transfers between funds||(110,881)|110,881|**–**|–|
|||`─────────`|`────────────`|`────────────`|`────────────`|
|**Net movement in funds**||(122,436)|614,602|**492,166**|233,389|
|**Reconciliation of funds**||||||
|Total funds brought forward||180,943|641,099|**822,042**|588,653|
|||`─────────`|`────────────`|`────────────`|`────────────`|
|**Total funds carried forward**||58,507|1,255,701|**1,314,208**|822,042|
|||`═════════`|`════════════`|`════════════`|`════════════`|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
**The notes on pages 17 to 34 form part of these financial statements.**
**- 14 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Statement of Financial Position**
## **31 March 2022**
|**31 March**|**2022**||||
|---|---|---|---|---|
|||**2022**||2021|
||**Note**|**£**|**£**|£|
|**Fixed assets**|||||
|Tangible fixed assets|**19**||**32,431**|24,826|
|**Current assets**|||||
|Debtors|**20**|**304,208**||153,980|
|Cash at bank and in hand||**1,268,339**||901,928|
|||`────────────`||`────────────`|
|||**1,572,547**||1,055,908|
|**Creditors: amounts falling due within one year**|**21**|**136,770**||84,692|
|||`────────────`||`────────────`|
|**Net current assets**|||**1,435,777**|971,216|
||||`────────────`|`─────────`|
|**Total assets less current liabilities**|||**1,468,208**|996,042|
||||`────────────`|`─────────`|
|**Net assets excluding defined benefit pension plan**|||||
|**liability**|||**1,468,208**|996,042|
|Defined benefit pension plan liability|**22**||**154,000**|174,000|
||||`────────────`|`─────────`|
|**Net assets including defined benefit pension plan**|||||
|**liability**|||**1,314,208**|822,042|
||||`════════════`|`═════════`|
|**Funds of the charity**|||||
|Restricted funds|||**1,255,701**|641,099|
|Unrestricted funds:|||||
|Defined benefit pension reserve||**(154,000)**||(174,000)|
|Other unrestricted income funds||**212,507**||354,943|
|||`─────────`||`─────────`|
|**Total unrestricted funds**||**58,507**||180,943|
||||`────────────`|`─────────`|
|**Total charity funds**|**23**||**1,314,208**|822,042|
||||`════════════`|`═════════`|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 25[th] November 2022, and are signed on behalf of the board by:
Jo Colin Chair of Trustees
**The notes on pages 17 to 34 form part of these financial statements.**
**- 15 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Statement of Cash Flows**
## **Year ended 31 March 2022**
||**2022**|2021|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|||
|Net income|**492,166**|233,389|
|_Adjustments for:_|||
|Depreciation of tangible fixed assets|**10,548**|5,744|
|Other interest receivable and similar income|**(51)**|(107)|
|Interest payable and similar charges|**(20,000)**|72,000|
|Accrued expenses|**12,621**|59,021|
|_Changes in:_|||
|Trade and other debtors|**(150,228)**|(6,148)|
|Trade and other creditors|**39,457**|13,171|
||`─────────`|`─────────`|
|Cash generated from operations|**384,513**|377,070|
|Interest received|**51**|107|
||`─────────`|`─────────`|
|Net cash from operating activities|**384,564**|377,177|
||`═════════`|`═════════`|
|**Cash flows from investing activities**|||
|Purchase of tangible assets|**(22,481)**|(12,664)|
|Proceeds from sale of tangible assets|**4,328**|7,180|
||`─────────`|`─────────`|
|Net cash used in investing activities|**(18,153)**|(5,484)|
||`═════════`|`═════════`|
|**Net increase in cash and cash equivalents**|**366,411**|371,693|
|**Cash and cash equivalents at beginning of year**|**901,928**|530,235|
||`────────────`|`─────────`|
|**Cash and cash equivalents at end of year**|**1,268,339**|901,928|
||`════════════`|`═════════`|
**The notes on pages 17 to 34 form part of these financial statements.**
**- 16 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
## **1. General information**
The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The liability of each member in the event of winding up is limited to £10. The address of the registered office is 4 - 8 Temperance Street, Torquay, TQ2 5PU.
## **2. Statement of compliance**
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting policies**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going concern**
There are no material uncertainties about the charity's ability to continue.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
**- 17 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **3. Accounting policies** _**(continued)**_
## **Incoming resources**
## **Income**
i) Gifts and donations are accounted for as soon as the amounts receivable are determined.
ii) Grants receivable are credited to the Statement of Financial Activities in the year in which they are receivable.
iii) Investment income is included when receivable.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Operating leases**
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
## **Tangible assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
**- 18 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **3. Accounting policies** _**(continued)**_
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements - 10% straight line Fixtures and fittings - 20% reducing balance Motor vehicles - 10% to 33.33% straight line Computer equipment - 25% straight line
## **Impairment of fixed assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## **Financial instruments**
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or parable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
**- 19 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **3. Accounting policies** _**(continued)**_
## **Defined benefit plans**
In October 2014 two Torbay Council employees were transferred to the Charity's employment under the TUPE Regulations and as part of the transfer the employees' pension benefits needed to be transferred. The Charity did not have a pension scheme and therefore became a member of the Devon Local Government Pension Scheme which is a Multi-employer Defined Benefit Scheme administered for the benefit of local authorities and other bodies in accordance with the local Government Pension Scheme Regulations.
The Charity recognises a defined net benefit pension asset or liability in the statement of financial position as the net total of the present value of its obligations and the fair value of plan assets out of which the obligations are to be settled. The defined benefit liability is measured on a discounted present value basis using a rate determined by reference to market yields at the reporting date on high quality corporate bonds. Defined benefit obligations and the related expenses are measured using the projected unit credit method. Plan surpluses are recognised as a defined benefit asset only to the extent that the surplus is recoverable either through reduced contributions in the future or through refunds from the plan.
Changes in the net defined benefit asset or liability arising from employee service are recognised in income or expenditure as a current service cost where it relates to services in the current period and as a past service cost where it relates to services in prior periods. Costs relating to plan introductions, benefit changes, curtailments and settlements are recognised in income or expenditure in the period in which they occur.
Net interest is determined by multiplying the net defined benefit liability by the discount rate, both as determined at the start of the reporting period, taking account of any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. Net interest is recognised in income or expenditure.
## **Defined contribution plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
## **4. Limited by guarantee**
Legal Status
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
**- 20 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **5. Donations and legacies**
||||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|---|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||**Donations**|||||
||Donations||1,000|4,687|**5,687**|
||||`═══════`|`═══════`|
`═══════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||**Donations**|||||
||Donations||2,980|3,900|6,880|
||||`═══════`|`═══════`|
`═══════`|
|**6.**|**Charitable activities**|||||
||||Unrestricted|Restricted|**Total Funds**|
||||Funds|Funds|**2022**|
||||£|£|**£**|
||Fares received||–|4,253|**4,253**|
||Concessionary fares received||–|13,810|**13,810**|
||Hire of bus||(60)|1,606|**1,546**|
||Performance-related grants||22,950|2,269,884|**2,292,834**|
||Management Fees & Overhead|Contribution|179,138|5,266|**184,404**|
||Fundraising Advice & Courses||8,815|60|**8,875**|
||Contractual Income||24,345|385,612|**409,957**|
||||`─────────`|`────────────`|
`────────────`|
||||235,188|2,680,491|**2,915,679**|
||||`═════════`|`════════════`|
`════════════`|
||||Unrestricted|Restricted|Total Funds|
||||Funds|Funds|2021|
||||£|£|£|
||Fares received||4,472|–|4,472|
||Concessionary fares received||6,173|–|6,173|
||Hire of bus||196|–|196|
||Performance-related grants||268,482|1,723,602|1,992,084|
||Management Fees & Overhead|Contribution|135,977|11,500|147,477|
||Fundraising Advice & Courses||3,663|–|3,663|
||Contractual Income||19,920|79,414|99,334|
||||`─────────`|`────────────`|
`────────────`|
||||438,883|1,814,516|2,253,399|
||||`═════════`|`════════════`|
`════════════`|
|**7.**|**Investment income**|||||
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Bank interest receivable|51|**51**|107|107|
|||`════`|
`════`|`════`|
`════`|
**- 21 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **8. Other income**
||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|
||Funds|Funds|**2022**|
||£|£|**£**|
|Other Income|5|5,065|**5,070**|
||`════`|`═══════`|
`═══════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Other Income|(4,453)|22,925|18,472|
||`═══════`|`════════`|
`════════`|
|**Costs of other trading activities**||||
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2022**|
||£|£|**£**|
|Room hire and functions|3,000|32,415|**35,415**|
|Depreciation|3,668|6,880|**10,548**|
||`───────`|`────────`|
`────────`|
||6,668|39,295|**45,963**|
||`═══════`|`════════`|
`════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Room hire and functions|(10)|9,458|9,448|
|Depreciation|5,652|92|5,744|
||`───────`|`───────`|`────────`|
||5,642|9,550|15,192|
||`═══════`|`═══════`|`════════`|
|**Expenditure on charitable activities by fund type**||||
||Unrestricted|Restricted|**Total Funds**|
||Funds|Funds|**2022**|
||£|£|**£**|
|Charitable activities cost|126,478|2,144,541|**2,271,019**|
|Support costs|(10,712)|2,686|**(8,026)**|
||`─────────`|`────────────`|
`────────────`|
||115,766|2,147,227|**2,262,993**|
||`═════════`|`════════════`|
`════════════`|
||Unrestricted|Restricted|Total Funds|
||Funds|Funds|2021|
||£|£|£|
|Charitable activities cost|225,981|1,717,896|1,943,877|
|Support costs|84,931|1,469|86,400|
||`─────────`|`────────────`|
`────────────`|
||310,912|1,719,365|2,030,277|
||`═════════`|`════════════`|
`════════════`|
## **9. Costs of other trading activities**
## **10. Expenditure on charitable activities by fund type**
**- 22 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **11. Expenditure on charitable activities by activity type**
||Activities|||||
|---|---|---|---|---|---|
||undertaken|
Grant funding||**Total funds**|Total fund|
||directly|
of activities|Support costs|**2022**|2021|
||£|£|£|**£**|£|
|Charitable activities cost|2,269,486|
1,533|
1,797|**2,272,816**|1,945,849|
|Governance costs|–|
–|
(9,823)|**(9,823)**|84,428|
||`────────────`|
`───────`|
`───────`|`────────────`|`────────────`|
||2,269,486|
1,533|
(8,026)|**2,262,993**|2,030,277|
||`════════════`|
`═══════`|
`═══════`|`════════════`|`════════════`|
## **12. Analysis of support costs**
||Charitable|||
|---|---|---|---|
||activities|**Total 2022**|Total 2021|
||£|**£**|£|
|Event and meeting costs|1,250|**1,250**|1,812|
|Gain/loss on disposal of tangible fixed assets|547|**547**|160|
|Audit and accountancy fees|10,046|**10,046**|12,345|
|Bank fees|131|**131**|83|
|Cost of defined benefit pension plan|(20,000)|**(20,000)**|72,000|
||`────────`|`────────`|`────────`|
||(8,026)|**(8,026)**|86,400|
||`════════`|`════════`|`════════`|
|**Analysis of grants**||||
|||**2022**|2021|
|||**£**|£|
|**Grants to institutions**||||
|Grants to institutions||**1,533**|3,384|
|||`───────`|`───────`|
|Total grants||**1,533**|3,384|
|||`═══════`|`═══════`|
## **13. Analysis of grants**
## **14. Other expenditure**
|||Unrestricted|**Total Funds**|Unrestricted|Total Funds|
|---|---|---|---|---|---|
|||Funds|**2022**|Funds|2021|
|||£|**£**|£|£|
||Loss due to Cyberattack|125,365|**125,365**|–|–|
|||`═════════`|
`═════════`|`════`|`════`|
|**15.**|**Net income**|||||
||Net income is stated after charging/(crediting):|||||
|||||**2022**|2021|
|||||**£**|£|
||Depreciation of tangible fixed assets|||**10,548**|5,744|
||Operating lease rentals|||**976**|1,217|
||Foreign exchange differences|||**547**|160|
|||||`════════`|`═══════`|
**- 23 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **16. Staff costs**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Wages and salaries|**962,399**|871,589|
|Social security costs|**83,774**|73,733|
|Employer contributions to pension plans|**77,387**|67,422|
||`────────────`|`─────────`|
||**1,123,560**|1,012,744|
||`════════════`|`═════════`|
The average head count of full time equivalent employees during the year was 46 (2021: 37). The average head count of employees during the year was 51 (2021: 41).
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
## **17. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
## **18. Transfers between funds**
The Ourbus fund is now funded via a subsidy, as a result this has been transferred to a restricted fund in the year.
During the year £125,000 was transferred from Core funds to support the Community Investment Fund.
## **19. Tangible fixed assets**
|||Plant and|Fixtures and|Motor|Computer||
|---|---|---|---|---|---|---|
|||machinery|fittings|vehicles|equipment|**Total**|
|||£|£|£|£|**£**|
||**Cost**||||||
||At 1 April 2021|10,649|16,224|18,550|16,192|**61,615**|
||Additions|–|195|15,750|6,536|**22,481**|
||Disposals|–|–|(10,850)|–|**(10,850)**|
|||`────────`|`────────`|`────────`|`────────`|`────────`|
||**At 31 March 2022**|10,649|16,419|23,450|22,728|**73,246**|
|||`════════`|`════════`|`════════`|`════════`|`════════`|
||**Depreciation**||||||
||At 1 April 2021|9,277|13,834|8,505|5,173|**36,789**|
||Charge for the year|806|–|4,293|5,449|**10,548**|
||Disposals|–|–|(6,522)|–|**(6,522)**|
|||`────────`|`────────`|`────────`|`────────`|`────────`|
||**At 31 March 2022**|10,083|13,834|6,276|10,622|**40,815**|
|||`════════`|`════════`|`════════`|`════════`|`════════`|
||**Carrying amount**||||||
||**At 31 March 2022**|566|2,585|17,174|12,106|**32,431**|
|||`════════`|`════════`|`════════`|`════════`|`════════`|
||At 31 March 2021|1,372|2,390|10,045|11,019|24,826|
|||`════════`|`════════`|`════════`|`════════`|`════════`|
|**20.**|**Debtors**||||||
||||||**2022**|2021|
||||||**£**|£|
||Trade debtors||||**248,163**|106,980|
||Prepayments and accrued|income|||**27,855**|27,855|
||Other debtors||||**28,190**|19,145|
||||||`─────────`|`─────────`|
||||||**304,208**|153,980|
||||||`═════════`|`═════════`|
**- 24 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **21. Creditors: amounts falling due within one year**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Trade creditors|**31,559**|25,616|
|Accruals and deferred income|**69,508**|56,887|
|Other creditors|**35,703**|2,189|
||`─────────`|`────────`|
||**136,770**|84,692|
||`═════════`|`════════`|
## **22. Pensions and other post retirement benefits**
## **Defined contribution plans**
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £77,387 (2021: £67,422).
## **Defined benefit plans**
The LGPS is a defined benefit statutory scheme administered in accordance with the Local Government Pension Scheme Regulations 2013 and currently provides benefits based on career average revalued earnings.
The administering authority for the Fund is Devon County Council. The Pension Fund Committee oversees the management of the Fund whilst the day to day fund administration is undertaken by a team within the administering authority. Where appropriate some functions are delegated to the Fund’s professional advisers.
On the Employer’s withdrawal from the Fund, a cessation valuation will be carried out in accordance with Regulation 64 of the LGPS Regulations 2013 which will determine the termination contribution due by the Employer, on a set of assumptions deemed appropriate by the Fund Actuary.
The most recent comprehensive actuarial valuation of the LGPS was at 31 March 2019. In completing the calculations for pension accounting purposes, the actuary, Barnett Waddingham, also used the following items of data, which were received from Devon County Council:
- estimated whole fund income and expenditure items for the period to 31 March 2022;
- estimated fund returns based on Fund asset statements provided as at 31 March 2019, 31 March 2020, 31 March 2021 and 31 March 2022
- estimated Fund income and expenditure in respect of the Employer for the period to 31 March 2022;
- details of any new early retirements for the period to 31 March 2022 that have been paid out on an unreduced basis, which are not anticipated in the normal employer service cost; and
- details of an settlements for the period to 31 March 2022.
Contributions are set every three years as a result of the actuarial valuation of the Fund required by the Regulations. The next actuarial valuation of the Fund will be carried out as at 31 March 2022 and will set contributions for the period from 1 April 2023 to 31 March 2026. There are no minimum funding requirements in the LGPS but the contributions are generally set to target a funding level of 100% using the actuarial valuation assumptions.
**- 25 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **22. Pensions and other post retirement benefits** _**(continued)**_
The statement of financial position net defined benefit liability is determined as follows:
||**2022**|2021|
|---|---|---|
||£|£|
|Present value of defined benefit obligations|(423,000)|(402,000)|
|Fair value of plan assets|269,000|228,000|
||`─────────`|`─────────`|
||(154,000)|(174,000)|
||`═════════`|`═════════`|
Changes in the present value of the defined benefit obligations are as follows:
|||**2022**|
|---|---|---|
|||**£**|
|At 1 April 2021||**402,000**|
|Current service cost||**34,000**|
|Interest expense||**8,000**|
|Change in financial assumptions||**(26,000)**|
|Contributions by Scheme participants||**5,000**|
|||`─────────`|
|**At 31 March 2022**||**423,000**|
|||`═════════`|
|Changes in the fair value of plan assets are as follows:|||
|||**2022**|
|||**£**|
|At 1 April 2021||**228,000**|
|Interest income||**5,000**|
|Contributions by employer||**18,000**|
|Contributions by plan participants||**5,000**|
|Remeasurements:|||
|Return on plan assets, excluding amount included in interest income||**13,000**|
|||`─────────`|
|**At 31 March 2022**||**269,000**|
|||`═════════`|
|The total costs for the year in relation to defined benefit plans are as follows:|||
||**2022**|2021|
||£|£|
|Recognised in income or expenditure:|||
|Current service cost|34,000|22,000|
|Net interest expense|3,000|2,000|
||`────────`|`────────`|
||37,000|24,000|
||`════════`|`════════`|
|Recognised in other recognised gains and losses:|||
|Change in financial assumptions|26,000|(105,000)|
|Change in demographic assumptions|–|3,000|
|Experience gain/(loss) on obligation|–|2,000|
|Remeasurement of the liability:|||
|Return on plan assets, excluding amounts included in net interest|13,000|41,000|
||`────────`|`─────────`|
||39,000|(59,000)|
||`════════`|`═════════`|
**- 26 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **22. Pensions and other post retirement benefits** _**(continued)**_
The return on plan assets are as follows:
|The return on plan assets are as follows:|||
|---|---|---|
||**2022**|2021|
||£|£|
|Return on assets of benefit plan|18,000|45,000|
||`════════`|`════════`|
The principal actuarial assumptions as at the statement of financial position date were:
||**2022**|2021|
|---|---|---|
||%|%|
|Discount rate|2.60|2.05|
|Expected rate of salary increase|4.15|3.85|
|Expected rate of increase in pensions|3.15|2.85|
|Inflation assumption|3.15|2.85|
|Mortality rates:|||
|Current pensioners at 65 - male|22.70|22.60|
|Current pensioners at 65 - female|24.00|23.90|
|Future pensioners at 65 - male|24.00|24.00|
|Future pensioners at 65 - female|25.40|25.40|
||`═══════`|`═══════`|
## **23. Analysis of charitable funds**
## **Unrestricted funds**
|||At||||**At 31 March**|
|---|---|---|---|---|---|---|
||1|April 2021|Income|Expenditure|Transfers|**2022**|
|||£|£|£|£|**£**|
|General funds||354,943|236,244|(267,799)|(110,881)|
**212,507**|
|Pension||(174,000)|–|20,000|–|**(154,000)**|
|||`─────────`|`─────────`|`─────────`|`────────`|
`─────────`|
|||180,943|236,244|(247,799)|(110,881)|
**58,507**|
|||`═════════`|`═════════`|`═════════`|`════════`|
`═════════`|
|||At||||At 31 March|
||1|April 2020|Income|Expenditure|Transfers|2021|
|||£|£|£|£|£|
|General funds||185,040|437,517|(244,554)|(23,060)|
354,943|
|Pension||(102,000)|–|(72,000)|–|(174,000)|
|||`─────────`|`─────────`|`─────────`|`────────`|
`─────────`|
|||83,040|437,517|(316,554)|(23,060)|
180,943|
|||`═════════`|`═════════`|`═════════`|`════════`|
`═════════`|
**- 27 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
## **Restricted funds**
|**Restricted funds**||||||
|---|---|---|---|---|---|
||||||**At**|
||At|||**31**|**March 202**|
||1 April 2021|Income|Expenditure|Transfers|**2**|
||£|£|£|£|**£**|
|Ageing Well|176,812|914,079|(1,017,156)|–|**73,735**|
|Advice and Mediation|21,226|30,000|(32,957)|–|**18,269**|
|Ageing Better - Lead in||||||
|Payment|–|–|(2)|–|**(2)**|
|Brixham Yes|5,562|–|(5,562)|–|**–**|
|Building Better||||||
|Opportunities|–|64,650|(48,006)|–|**16,644**|
|Bushcraft Skills|22|–|–|–|**22**|
|CAF Grants|–|50|–|–|**50**|
|Community First|751|–|–|–|**751**|
|Community Grant Fund|8,550|46,460|(59,230)|–|**(4,220)**|
|Community Investment||||||
|Fund|500|–|(125,046)|125,000|**454**|
|Evening Strollers|13|–|–|–|**13**|
|Gardens & Greens||||||
|(Heles Angels)|122|–|–|–|**122**|
|Helpline|124,934|411,478|(267,763)|–|**268,649**|
|Imagine This|204,938|131,052|(183,679)|–|**152,311**|
|Jamtastic|316|–|–|–|**316**|
|Local Motion|–|507,400|(8,381)|–|**499,019**|
|NATGC|75|–|–|–|**75**|
|PA Development|4,110|–|–|–|**4,110**|
|Art Recovery|682|–|–|–|**682**|
|Sendiass|44,874|59,825|(98,958)|–|**5,741**|
|SIMPL|–|–|–|–|**–**|
|Sober Companion|27|–|–|–|**27**|
|Ethical Volunteering-||||||
|Steps Forward|27,411|31,100|(23,932)|–|**34,579**|
|The Food Alliance|161|–|(161)|–|**–**|
|Torbay Community||||||
|Partnerships|17,946|–|(418)|–|**17,528**|
|Torbay Soup|368|–|–|–|**368**|
|Torre & Upton Pop-Up||||||
|Shop|400|–|(400)|–|**–**|
|Traders Register Project|1,299|–|–|–|**1,299**|
|Our Bus|–|72,132|(55,478)|(14,119)|**2,535**|
|Community Builders|–|28,552|(20,298)|–|**8,254**|
|Community Centres|–|5,000|–|–|**5,000**|
|Trading Arm|–|–|(35)|–|**(35)**|
**- 28 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
|Health and Wellbeing||||||
|---|---|---|---|---|---|
|Voluntary Sector||||||
|Network|–|20,000|–|–|
**20,000**|
|Mental Health &||||||
|Engagement Project -||||||
|TWEP|–|288,465|(210,359)|–|**78,106**|
|Mental Health Precept|–|–|(5,553)|–|**(5,553)**|
|Public Health and Social||||||
|Care|–|50,000|(2,648)|–|**47,352**|
|Suicide Prevention|–|30,000|(20,500)|–|**9,500**|
||`─────────`|`────────────`|`────────────`|`────────`|
`────────────`|
||641,099|2,690,243|(2,186,522)|110,881|
**1,255,701**|
||`═════════`|`════════════`|`════════════`|`════════`|
`════════════`|
||||||At|
||At||||31 March 202|
||1 April 2020|Income|Expenditure|Transfers|
1|
||£|£|£|£|£|
|Ageing Well|182,707|1,103,078|(1,108,973)|–|176,812|
|Advice and Mediation|12,790|34,500|(26,064)|–|21,226|
|Ageing Better - Lead in||||||
|Payment|–|–|–|–|
–|
|Brixham Yes|5,936|–|(374)|–|5,562|
|Building Better||||||
|Opportunities|–|53,100|(58,282)|5,182|
–|
|Bushcraft Skills|22|–|–|–|
22|
|CAF Grants|–|–|–|–|
–|
|Community First|751|–|–|–|
751|
|Community Grant Fund|18,079|(6,989)|(2,540)|–|8,550|
|Community Investment||||||
|Fund|500|–|–|–|
500|
|Evening Strollers|13|–|–|–|
13|
|Gardens & Greens||||||
|(Heles Angels)|122|–|–|–|
122|
|Helpline|–|152,472|(27,538)|–|124,934|
|Imagine This|192,639|393,012|(380,713)|–|204,938|
|Jamtastic|316|–|–|–|
316|
|Local Motion|–|–|–|–|
–|
|NATGC|75|–|–|–|
75|
|PA Development|4,110|–|–|–|
4,110|
|Art Recovery|682|–|–|–|
682|
|Sendiass|35,385|97,954|(88,465)|–|44,874|
|SIMPL|(2,283)|14,000|(15,476)|3,759|
–|
|Sober Companion|27|–|–|–|
27|
|Ethical Volunteering-||||||
|Steps Forward|42,739|–|(15,328)|–|27,411|
|The Food Alliance|–|300|(139)|–|161|
**- 29 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
|Torbay Community||||||
|---|---|---|---|---|---|
|Partnerships|23,055|(86)|(5,023)|–|17,946|
|Torbay Soup|368|–|–|–|368|
|Torre & Upton Pop-Up||||||
|Shop|400|–|–|–|400|
|Traders Register Project|1,299|–|–|–|1,299|
|Our Bus|(14,119)|–|–|14,119|–|
|Community Builders|–|–|–|–|–|
|Community Centres|–|–|–|–|–|
|Trading Arm|–|–|–|–|–|
|Health and Wellbeing||||||
|Voluntary Sector||||||
|Network|–|–|–|–|–|
|Mental Health &||||||
|Engagement Project -||||||
|TWEP|–|–|–|–|–|
|Mental Health Precept|–|–|–|–|–|
|Public Health and Social||||||
|Care|–|–|–|–|–|
|Suicide Prevention|–|–|–|–|–|
||`─────────`|`────────────`|`────────────`|`────────`|`─────────`|
||505,613|1,841,341|(1,728,915)|23,060|641,099|
||`═════════`|`════════════`|`════════════`|`════════`|`═════════`|
**- 30 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
## **Advice and Mediation**
An independent free of charge Advice and Mediation service provided to pupils who are at risk of exclusion from education.
## **Ageing Better - Lead-in Payment**
Big Lottery funding for initial development of the Ageing Well programme prior to implementation and sign-off by Big Lottery (England) committee.
## **Ageing Well**
Ageing Well Torbay is a 7 year project, funded by Big Lottery, which aims to reconnect communities and reduce social isolation amongst the 50 plus generation across Torbay.
## **Art Recovery**
Recovery Grant awarded to Arts group to be released on request.
## **Brixham Yes**
Funds held from the pilot Community Builders programme delivered in partnership with Brixham YES to be used to sustain the Community Building team.
## **Building Better Opportunities**
A lottery and European Social Fund Project targeting the over 25 year olds furthest form the Labour market back into employment.
## **Bushcrafts Skills**
Recovery grant funds held by TCDT on behalf of organisation working with clients in recovery to assist them in learning new skills.
## **CAF GRANTS**
Grants held for other organisations without CAF bank account.
## **Community First**
Grants were awarded from Ellacombe, Blatchcombe and Tormohun Community First Panels to put on a celebratory event at the end of the four year Community First Neighbourhood Matched Fund programme. The event, held at Paignton Zoo included presentations from panel members on their experience of the programme, and about the proposed new Torbay Soup project, as well as food, music entertainment and a Grand Draw, with money raised donated to Torbay Soup.
## **Community Grants**
Grant scheme administered on behalf of Torbay Council and South Devon and Torbay Clinical Commissioning Group.
## **Community Investment Fund**
Public Health funds to support the community led preventative approaches to improve healthy lifestyles.
## **Ethical Volunteering - Steps Forward**
Torbay Care Trust funded project for TCDT to support local people in recovery from alcohol or substance use into volunteering positions, with a view to their re-entering the job market. The project provides one to one support, training and volunteer placements.
**- 31 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
## **Evestroll (Evening Strollers)**
Funds held on behalf of an evening strolling group.
## **Gardens and Greens (Heles Angels]**
Funds received to establish the Gardens and Greens Project.
## **Helpline**
Funds received to continue the Community Helpline set up during the Pandemic and adapt to current needs.
## **Imagine This**
Funds received to establish the Imagine This organisation to support and unite voluntary sector organisations working with children, young people and families in Torbay.
## **Jamtastic**
Recovery Grant funded held by TCDT on behalf of an organisation providing distraction therapy sessions for people in recovery to make live music and jam with others helping them to gain confidence and learn about co-operation and harmony in working together.
## **Local Motion**
Funding received as part of a national initiative to tackle inequality and disadvantage.
## **NATGC**
Funds held for Newton Abbot and Torbay Games Club.
## **Ourbus**
A community transport scheme launched to replace No.60 Paignton and Torquay bus.
## **PA Development**
To develop individuals as Personal Assistants to support client making choices under the new care model.
## **Paignton Neighbourhood Forum**
Funds received to establish a new forum for community engagement in the Paignton area.
## **SENDIASS**
Is an independent support service providing free confidential and impartial advice and information for parents and young people in relation to young people's special educational needs and/or disabilities.
## **SIMPL**
Funding to establish the Social Investment Market Place Learning programme.
## **Sober Companion**
Funds held to facilitate the purchase of items for clients in recovery.
## **Torbay Community Partnerships**
An umbrella charity that is the governing body of the Community Partnerships network in the Torbay area providing support for residents to improve the quality of life in their local areas.
## **The Food Alliance**
Funds awarded to support Torbay Food Alliance.
**- 32 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **23. Analysis of charitable funds** _**(continued)**_
## **Torbay Soup**
An occasional micro-funding event with the successful organisation taking the proceeds of the event.
## **Torre & Upton Pop-up Shop**
Funds awarded from Recovery Grant, held on behalf of small organisation that does not have a bank account. The funds are released to support the project as and when needed.
## **Traders Register Project**
Funds provided by the Co-operative to develop support for vulnerable people when seeking quotes for work from traders. Project includes volunteer advocates and training for traders to understand the needs of various vulnerable groups.
## **Community Builders**
Our team of Community Builders work in the 30 Neighbourhoods across Torbay supporting residents to make their community the best it can be. They particularly focus on reconnecting people that are experiencing isolation. Formerly focussed on isolated people over 50 the Community Builder now support any age group.
## **Community Centres**
Funds provided by Torbay Council to review the work and support needs of the Community Centres in the Torbay.
## **Trading Arm**
Funds to create a new CIC set up to enable us to share the learning from our work over the last eight years with organisations and groups outside of Torbay.
## **Health and Wellbeing Voluntary Sector Network**
This network brings together over 200 voluntary sector organisations who work in the field of health and wellbeing in Torbay. The TCDT is a steering group member and is currently holding Wellbeing Funds on behalf of the Network.
## **Mental Health and Engagement Project**
TCDT coordinated a network of smaller organisations to provide mental health support in local places of welcome as Torbay emerged from the pandemic.
## **Mental Health Precept**
Funds provided by Torbay Council to match Ageing Well resources to create peer group activities for people with mental health issues.
## **Public Health and Social Care**
A continuation of our work with older people. This funding enables to run a Live Longer Better programme, continue to support the Assembly and the Age Friendly Torbay network.
## **Suicide Prevention**
Administration of a grant fund targeted at suicide prevention.
**- 33 -**
## **Torbay Community Development Trust Ltd**
## **Company Limited by Guarantee**
## **Notes to the Financial Statements** _**(continued)**_
## **Year ended 31 March 2022**
## **24. Analysis of net assets between funds**
|||Unrestricted|Restricted|**Total Funds**|
|---|---|---|---|---|
|||Funds|Funds|**2022**|
|||£|£|**£**|
||Tangible fixed assets|22,120|10,311|**32,431**|
||Current assets|246,233|1,326,314|**1,572,547**|
||Creditors less than 1 year|(55,438)|(81,332)|
**(136,770)**|
||Defined benefit pension|(154,000)|–|**(154,000)**|
|||`─────────`|`────────────`|`────────────`|
||**Net assets**|58,915|1,255,293|**1,314,208**|
|||`═════════`|`════════════`|`════════════`|
|||Unrestricted|Restricted|Total Funds|
|||Funds|Funds|2021|
|||£|£|£|
||Tangible fixed assets|17,444|7,382|24,826|
||Current assets|379,810|676,098|1,055,908|
||Creditors less than 1 year|(42,311)|(42,381)|
(84,692)|
||Defined benefit pension|(174,000)|–|(174,000)|
|||`─────────`|`─────────`|`────────────`|
||**Net assets**|180,943|641,099|822,042|
|||`═════════`|`═════════`|`════════════`|
|**25.**|**Analysis of changes in net debt**||||
|||||**At**|
|||At 1 Apr 2021|Cash flows|**31 Mar 2022**|
|||£|£|**£**|
||Cash at bank and in hand|901,928|366,411|**1,268,339**|
|||`═════════`|`═════════`|`════════════`|
|**26.**|**Operating lease commitments**||||
||The total future minimum lease payments under|non-cancellable operating leases are as follows:|||
||||**2022**|2021|
||||**£**|£|
||Not later than 1 year||**1,124**|1,404|
||Later than 1 year and not later than 5 years||**2,809**|2,809|
||||`───────`|`───────`|
||||**3,933**|4,213|
||||`═══════`|`═══════`|
**- 34 -**