Regi$terÈd numbei: 07546840
Charjty nUm￿r. 1140896
TORBAY COMMUNITY DEVELOPMENT TRUST LTD *I..I'
IA Company Llmlted by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

TORBAY COAqMUNITY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantsel
CONTENTS
Page
Refernnc& and Admlnlstratlv• Dotails of the Charfty, its Trusts8# and Advlsors
Tru5tses' Roport
Indap9ndent Auditors. Rgport on th• Financial Ststsm•nts
9-13
Ststrment of Financlal AdlYltlo$
14
Balancè Shoet
15-16
Statsment of Cash Flows
17
Not•s to the Fin#n¢ial Statémonts
18-45

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trnstees
N S Williams, Trustee (appointed 28 November 2022. resigned 31 October 2023)
J Colin, Chair
S J Martin, Tru$tee
J K Gunson, Trustee
R J Higman. Trustee
A M fvlanning, Trustee
J W Parker. Trustee
Company reglstyrod
number
07546840
Charlty rnglstsr•d
number
1140896
Regljtsrèd offlce
44 Temperance Streèt
Torquay
TQ2 SPU
Independent auditor>
Accendo Consthb'ng Ltd
Charte￿d Certrfied Accountants & Statutory Auditors
160 City Road
London
ECIV 2NX
Bankavs
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page 1

TORBAY COMMUMtFY DEVELOPMENT TRUST LTD
{A Company Limltèd by Guarantsè)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together wth the audited financial statements of the Chaty for the year
1 April 2022 to 31 March 2023. The Annual Report setves the purposes of both a Trustees, report and a
directors, report under comp8ny law. The Ttustees confimi that the Annual Report and finanual 5t8tements of
the charitsble company comply wth the Current slatulory requirements, the requirements of the charitable
company's goveming document and the pr)visions of the Statement of Recommended Practice ISORP)
applicable to charih'es preparing their accounts in accordance wth the Financial Reporting Standard applicable in
the UK and Republic of Ireland (FRS1021 leffective 1 January 20191.
sin￿ the Charity qualifies a5 Small under section 382 of the Companies AGt 2006, the Strategi¢ Report required
of medium and large companies under the Companies Act 2006 IStralegi¢ Report and Directors. Report}
Regulations 2013 has been ornittÈd.
ObJg¢tlves and activitlos
Policles and objectives
The objects ofthe charity are..
1. To promote any charitable purpos￿ for the benefit of the public. principally but not exclusively in the local
Government area of TO￿aY and rts environs Ihereinafter called the 'Area of Benefit'l and, in parbrular, build the
capacity of third sector ¢rgarnisations and provide them the nece55ary SUPPOrt, informatr'on and Servi￿ to
enable them to pursue or contribute to any charitable purpose.
2. To promote, organise and facilitate cooperation and partnership working betsveen third $e¢tor. statutory and
other relevant bodies in the achievement of the above purposes wthin tre area of benefrt.
In setting obj?th'ves and planning for activititrs, the Trustees have given due ¢onsideiation tg general guidan
published by the Charlty Commission relating to public benefit. including the guidance 'Public benefft". running a
charty IPB21'.
b. Strategi9$ for achieving objectives
Our overall purpose 1$ Enabling Tort)ay lo be a place vthere all feed included and can be involved in growng 3
connected. vibrant, thriving. creative, and prosperous Community and our strategies for achieving this are..
Encouraging people to do what they do best enabling people to connect and contribute lo what they care
about in neighbourhoods.
Enabling group5 to thrive through networks and supporL
Making Connections, stimulating ccwperalion and new way5 c)f working
eonditions for CDtlaborab"on.
creaty.ng the space and
Page 2

..TORBAY COMMUNFfY DEVELOPMENT TRUST LTD ￿￿-￿I￿.,,.=
IA Company Llmlted by Guarante81
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 fvIARCH 2023
Objectives and actlvlties (conllnugdl
¢. Activitios undertaken to achieve objactives
We continue to work wth a strengths-based approach, othenvise known a5 asset based community
development IA8CDI. The Community Helpline ha5 been at the foiefronl of our Work in 2022-23 with over
25.000 calls. Requests for food parcels have increased, even on last year, and financial support. Mental hèalth
and wellbeing support are at the top Of the list for requests. But we still have Over 500 active volunteers, many Of
whom have been back marshalling al the Vawination Centre as we help thè fight to keep Covid at bay.
We are pleased to announce that our Community Builders have been able to retum lo their usual role of
onneGting people in the community and stimulating resilience. Many of our smaller groups have retumed post
covid and new ones have emerged to help build fiiendship and support in our neighbourhoods. We have also
supported those who are new to TO￿ay- our Ukrainian guests. tsur asylum Seekers and refugees.
Vve have been supporting people to become more active through the Live Longer Better Programme and we
continue to gel people out and about through our OurBus service. The Sendiass and Advice and Mediation
Serviee has continued to support children and young people with special educational needs andlor disabilities.
and 2022-23 saw the last full year of the Posibve People Programme supporbng people furthest from
employment.
Our work wth the rest of the sector has wntinued wth our coordination of the 50+ Drganisations working
children, young people and families through the Irnagints This Parthership and our participation and support to
the other nintt VCSE ne￿orkS we have in the Bay. Our Community Funding Advisor helped local groups to raise
£1.499 million in the year, and we helped ¢reale a new CIC People'5 Parkfield that has taken over Parkfield
House in Paignton on a lease from Tort)ay Council. ￿rith the intentson of opening the house up for communlty
use. particularly for yDung people.
While we continue to build on what 15 strong in our ¢gmmunities we have also been hosting the Local Mots'on
initiative in Torbay which seeks to bring about systemic changes. Local Motion is about stepping back and
looking at what we can do to p￿vent hardship in Torbay and many many ideas are coming out of this
community-led proce5S.
d. Grant-making policias
The Charity administers a series of grant programmes on behalf of other organi5alions, particularly Torbay
Council. The grant making policies are determined by the organisation providing the grant funding.
. Volunteers
The organisation has a total of 559 active volunteer5 registered through the Community Helpline.
Achievements and performance
Financial rnvl*w
Pagè 3

TORBAY COMAIUNITY DEVELOPMENT TRUST LTD ¥,:
IA Company Llmllod by Guarantee)
¥&:>.
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 IAARCH 2023
a. Going concein
After making appropriate enquiries. the Trustees have a reasonable expectstion that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt
the going cOn￿M basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
The tangible fixed assets olthe charity ¢omprise.'
Fixtu￿$, fittings and computer equipment at 4-8 Temperance Street Ttsrquay, TQ2 SPU
VehiGles comprising 2 Communty Transport buses.
The Trustees consider that these assets are n?cessary for the current activitie5 of the Charty 3nd are to be
retained or repl8Ged 85 required.
Provision is CUTrently made for depreaalion on..
Fixiures and FTtti"ngs Straight Line over 5 years
Computer Equipment Straight line over four years
Vehicles Straight line over three years.
The Trustees have reviewed the reserves of the Charity and consider the Gurrent level of reserve$ ne¢essary to
fiJnd tre continuation of the Charily taking into aG¢ount the followng requirements..
The charity nÈeds to maintain a gener81 reserve IUnre5tricted General FuAdl to enable service5 to continue
uninterrupted for approximately three months. together wrth a provision for redundancy costs {calculated to be
£103k as al 31st March 20231 and other expenses if the charity ceases to operate.
c. Summary
The total income for the year has reduced to £1.76m due lo the end of the pandemic, which led to additional one
off funding. Expenditure has remained broadly in line with previous years at £2.2m. As at 31 March 2023 the lotsl
funds of the Charity were £960k12022.' £1.3m) of vthich £325k12022'. £59kl was attributable lo unrestricted funds
and £636k12022' £1.2ml was attributsble to restricted fund5.
Page 4

TORBAY COMMUNITY DEVELOPMENT TRUST LTD &-.-
IA Company Llmitgd by Guarant•o}
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
d. Principal risks and uncortainties
The Trustees have identiffed ¢urrenl risks under S headings of People. Govemance. Operational, Financial.
Environmental l External FaGlors, Compliance.
Risks currently idenliloed are..
People
Recruitment and retention of appropriate staff
Wellbeing of staff
Sufficient Management Capaoty
Volunteering does not increase to support helpline and other projects.
Govemance
Range of skills and eXpe￿Se on Board of Truslttes, due to recènt resignations.
Operational
Worknng from home policy fails
Health and safety- how do we ensure we have adequate processèg in pla
Cybercrime- Ongoing exposure to future attacks eg Ransomware.
Financial
TCDT is unable to draw down more of the Grant income available lo it for 2023 and beyond
TCDT does not become financially sustainable from ApFil 2024.
EnwronmenlallExtemal Factors
Impact of cost of living crisis on demand for services
Climate Action requirements are beyond capacity of TCDT.
e. Financlal rtsk management objectives and policies
The above risks are recorded on the Charity's Risk Register. They are assessed by Likelihood and Impact giving
current risk scoring. The risk is allocated to a member of StafflGovemance. Mitigation strategies are identified
and also assessed by Likelihood and Impact providing a residual risk. The risk register is reviewed on a quarterty
basis.
f. Principal fundlng
The principal funding sources of income are grants from various bodies.
Structuro, governanc• and manag•mont
a. Constitutlon
Torbay ComTnunty Development Trust Ltd 15 registered as a charitable company limited ty guarantee and was
set up by a Memorandum of Association.
Page 5

TORBAY COMMUNITY D￿￿LoPMENT TRUST LTD
{A Company Umitsd by Guarnnteel
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Structure. governanc• and managem&nt Icontlnuedl
b. Methods of appolntment or electlon of Trusts05
The management of the Charity is the responsibilty of the Trustees are elected and co-opted under the
lems of the Memorandum of AsSCbclalion.
All Trustees have to be an individual member or an aulhorised representative of 8 general member. The number
of Trustees must nL)t be less than three but there is no m8ximum. At each general meeting one third of the
Truslees retire from office. If there is only c)ne Trustee he or she must retire. The Trustees to rekn.re by rotab'on
are those who have been longest in office since their last appointment. Trustees may offer themselves for r
election for up lo a tnaximurn of two consecutive terms, plu5 an an additional years for a specffic Skill set A
robust selection process was undertaken to fomi a new substantsve board for the Trust in 2014, asking for
peotde interested and able to 5UPPOrt the range of governance acb'vities, e.g. Busine55 Planning, HR and Legal
to lake on an ou￿rd facing role, Supporting the sectDr in the domains of ¢ommunity lrfe, e.g. Health and Care,
Fafth and Belief, Sport and Leisure. New Tfustees have joined the Board since then also contributing to the skllls
base.
The Directors of the charftsble company (the Charity) are its TnJ$tee$ for the purpose of the Charity law and
throughout this reFOrt are collectively referred to as the Trustee. The Twslees seNing during the year and slnce
the year end are listed on page 1 of th& accounts.
¢. Organisatlonal structure and de¢l$lonamaking poll¢los
The Charity has a flat hierarchical Structure wrth staff involved in a considerable amount of decision-making
There Is a Senior Management Team of 3. including a Director who repDrts to the Board of Trustees. The
Trustees delegate the operations of the organi5ation to the staff. bul they retain the decision-maklng powers over
strategic issues.
d. Policies adopted for the Induction and training of Twstees
New Trustees are salected on the the basis of the contribub.on that they will make lo the govemance of the
organisation and the skills that they wll contribute. They are provided with ctspies of the Charity Commission,
guidance to Trustees and are given an introduction to the activities of the Charity by the exists.ng bL)ard. They are
also made aware of the Charty's conslitutson, ¢urrenl financial position as sel out in the latest filed accounts and
our fubjre and obje¢tives.
e. Pay policy for kay managemont p•rs¢)nnel
The Charity operates a salary Scale structure guided by the following parameters-
Benchmarking, range of training. skills and experience required, affordability for the organisation. Tetenb'on. and
the overall remuneration policy ol the Charity.
f. Rotstsd party rfylationships
The Trustees work on a voluntary basis, none of the tru$lees received remuneration or other benefts for their
work as trustee during the year under review. EKcept thosè disclosed in Related Party transactions note to the
financial statements, there have been no tranyactions or dealings wth any individual or entities connected to
trustees or any other related parbes.
Page 6

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
{A Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Structurei govemance and manag•mort Iconllnuodl
g. Financial rfsk managom•nt
The Trustees have as$?ssed the major risks to which the Charity is exposed. in particular those related to the
operations and finances gf the Charity, and are satisfiecl that systems and procedures are in place lo mitigate
exposure to the major risks.
h. Trustses. Ind&mnltles
The Charity has granted an indemnity of up to £500k to its trustees against liability in ￿spect of ptoceedings
brought by third parties. Such quali￿"n9 third-paty indemnity prowsion ￿maIned in force during the year and as
at the date of approving the trustees, ieporL
Plans fctrr futur8 priods
The Charity's Plan for future period$ is lo consolid8te acllvilies, to remain responsive lo the community's
need$, diversify its funding sources and develop a sustainabilty plan to become less reliant tsn grdnt funding.
Memb•r$' IlabS11ty
The Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the Charity in
the event of winding up.
Statement gf Tw5tsÈ$' rnsponsibilities
The Trustees (who are also the directors of the Charity for the purposes of ¢ompany lawl are re5PDnsible for
preparing the Trustees, Report and the financial statemen15 in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law.
the Trustees musl not approve the financial ststemenls unless they are satisfied that they give a true and fair
view of the state of affairs of the Charity and of ils incoming resources and application of resources, induding its
income and expenditure, for that perio(l. In preparing these financial statements, the Trustees are required to..
select suitsble accounb'ng policies and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021-,
make judgments and accounting estimates that are reasonable and prudent..
stste whether applicable UK Accounting Standards IFRS 102) have been followed, subje￿ lo any material
departures disclosed and explained in the financial statements,.
prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responslble for keeping adequate accounting record5 that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial posV(ion of the Charity
and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the Charity and hence for taking reasonable step$ for the prevenlityn
and detection of fraud and other irregularities.
Page 7

TORBAY COMMUNTfY DEVELOPMENT TRUST LTD
(A Company Limli ed by Guarnnteel
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
D15closur• of Inforn)atlon to audltors
Each ofthe Perso￿ who we TnMtee$ * the Im8 when this TTU8tees' Report 18 approved has confimied that:
so far as that Trustee is aware, there is no re￿nt audit information of which the charity's audltors are
unaware, and
that Trustee has taken all the steps that ought to have been tsken as a Trustee in order to be aware of
any relevant audit Infomation and to egtablish thatthe charity's auditors e¥e aware of Ihat infomiation.
Audltor8
The aUdrtt￿. Accendo Consulting Ltd, hgve Indlcatad their willingnes8 lo continue in office. The designated
Tnjstees will propose a motw reappointing the auditors at a meeting of the Trustees.
Approved
y order of the memberÈ of the bjard of Trustees and Signed on thelr beha￿ by.
S Martin
ITreasurer Trusts81
D8te'. 1 December 2023
Page 8

sTORBAY COMMUNfFY DEVELOPMENT TRUST LTD
IA Company Llrnitsd by Guarnnt8e)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT
TRUST LTD
Opinion
We have audited the financial statements of Torbay Community Development Trust Ltd (the 'charitable
company) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance
Sheet. the Stslement of Cash Flows and the related notes, includiny a summary of significant accounting
poli¢ies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdtsm Accounting Standards. inctuding Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Pra¢lic&l.
In our opinion the financial ststements..
giv8 a true and fair view of the state of the charitable company's affairs as al 31 March 2023 and of its
incoming resources and application of resources. including its income and expenditure for the year then
Ènded.,
have been properly p￿Pared in accordance with Unlted Kingdom Generally Accepted Accounting
Practice," and
have been prepared in accordance with the requirernenls of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance wth Internab'onal Standards on Auditsng IUKI IISAS {UK)l and applicable
law. Our responsibilitses under those standards are further described in the Auditors, responsibilib.es for the audit
of the finanoal ststements section of our report. We are independent of the charitable Gompany in accordance
vhth the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom.
induding the Financial Reporting Council's Ethical Standard, and we have fulfilled our Other ethical
responsibilities in ac¢ordance with these requir?ments. We believe that the audit evidence we have obtained is
suffi¢ient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the finanual staternents, we have concluded that the Tru5tee3' use of the going con¢em basis of
ac¢ciunting in the preparation of the financial ststements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to events or
conditions that, individualty or collectively, may cast significant doubt on the Charitable company's ak)ility to
continue as a going concern for a period of at least ￿e1Ve months from when the finanryal ststemenls are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees y¥ith respeGt lo going concem are described in the
relevant seth'ons L)f this report.
Page 9

TORBAY COhlMUNITY DEVELOPMENT TRLIST LTD
(A Company Umlted by Guaranteel
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT
TRUST LTD ICONTINUEDI
Other Infomiation
The other infomiation comprises the infomiation included in the Annual Report other than the financial
statements and our Auditors. Report thereon. The Trustees are responsible for the other inforrnation contained
thin the Annual Repgrt. Our opinion on the financial ststements does not cover the other information and.
except lo the extent othenmse explicitly stated in our report. we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other inform8tion and, in doing so, consider whether the other
informatitrn is materially inconsistent with the financial ststemÈnts or our knowledge obtained in the course of the
audit, or othenMSe appears to be materially misstated. If we identty such material inconsistencies or apparent
material misstatements, we are required to detemiine whether this gives rise to a material misstatement in the
ffnancial statements themselves. If, based on the Work we have performed. we conclude that there 15 a material
mi55tatement of this other information, we are required lo report that fact.
We have nothing to repDrt in this regard.
Matters on vthich we are requlred to report by •xception
We have nothing to report In respect of the follo%Mng matters where the Chari(ies (Accounts and Reports)
Regulatlons 2008 requires US to report to you if, in our oplnion..
the inlomiatson given in the Trustees, Report Is inconsistent in any material respect wth the financial
statements., or
sulfi¢ient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the inforrnation and explanations we require for our audit.
Rèsponsibilitoes of trustees
As explained more fully in the Trustees, Responsibilities Statement. the Trustees (who are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
ststements and for being satisfied that they give a true and fair wew, and for such intemal Gontrol as the
Trustees delertnine is necessary lo enab5e the preparation of financial statements that are flee from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing tre charitable company's ability
to continue as 8 going concem. disclosing, as applicable, matters related lo going COn￿M and using the going
concem basis of asGounting unles5 the Trustees either intend lo liquidate the chari13ble company or to cease
operations. OT have no realistic alternative but lo do so.
Page 10

TORBAY COMMUN]TY DEVELOPMENT TRUST LTD
(A Company Limtted by Gu•ranteo1
INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELopiifENT
TRUST LTD (CONTINUED}
Auditors. rgspon$ibiliti8s for the audlt of the financial $tatoments
We have been appointed a5 auditor under section 144 of the char￿e5 Act 2011 and report in accordance with
the Act and relevant re9ulation3 made or having effect thereunder.
OUT objectives are to obtain reasonable assurance about whether the financial stslements as a whole are free
from material misstatement, whether due lo fraud or error. and to issué an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (Um wll always detect a material misstatement when it exists. Misststements Can a￿se
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
•xpe¢t$d to influence the economic deGisions of users tsken on the basis of these financial ststements.
I￿egularities, including fraud, are instances Df non-compllance wth laws and regulations. We design procedures
in line wth our responsibilib'es, Dullined abDve, to dol&¢t material misstatements in ￿sPect of irregularrties,
including fraud. The extent to which our proCedu￿S are capable of detecting irregularits'es, including fraud is
detailed below..
Extent to which the audlt VAS con$ldered capable of detecting irrggularltlès, including fraud
We identify and assess the risks of malerbal misststement of the financAal 5ts1ements. v4hether due to fraud or
error, and then design and perfomi audit procedure5 responsive to those risks, induding obtaining audit
evidence that Is sufficient and appropriate lo provide a basis for our opinion.
Idèntifying and assessing potsntSal rl8ks related tr> irregularftles
In identifying and assessing risks of material misstatement in respact of irregularities, including fraud and non-
compliance with laws and regulations. we conydered the following..
The nature of the industry and sector, control environment and business performance including the deslgn
of Ihe entitys remunerab'on policies, key drivets for directors, ￿MuneratiOn, bonus levels and performance
tsrgets,.
reSU￿S of our enquiri&s of management about their own identification and assessment of the risks of
irregularities.,
the matteT5 discussed among the audll engagemenl team regarding how and where fraud might occur in
the financial statements and any potential indicators of fraud.
A5 a result of these Procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potenb.al for fraud in relation to revenue recognition. In common
th all audits under ISAS IUKI, we are also required to perform specAfic procedures to respond to the risk of
management override.
We also obtained an understanding of the legal and regulatory frameworks that the entity Operates in and
focused on those laws and regulations that had a direct effect on the determination of material amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context induded the
Charities Act 2011 and Companies Act 2006.
In additron. we considered prtrvisions of other laws and regulations that do not have a direct effect on the
financial 5t3temenls but compliance wilh which may be fundamental to the entity's ability to operate or to avoid
material fine or penalty.
P8ge11

TORBAY COMMUNITY DEVELOPMEKf TRUST LTD
IA Company Llmit•d by Guarantèe)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT
TRUST LTD ICONTINUEDI
Audit response to risks identified
As a result of perfonring the above, we identified revenue recognib.on as a key audit matter related to Ihe
potential risk of fraud. Ouf procedures to respond to risks identified induded the foll¢)wing'.
reviewing the financial statement disclosures and testing to supporting dwumentation to assess
ompliance with provisions of relevant laws and regulations described as having a direct effect on the financial
ststements:
enquiring of management, conceming acbjal and potential lib'gation and claims.,
perfomiing analyb'cal procedures to identsfy any unusual or unexpected relationships that may indicate
risks of m8terial mis5ts1ement due lo fraud.,
reading minLrtes C•f meetlngs of those charged with gDvemance,' and
in addre$sing the risk of fraud through management override of controls, testing the appropriateness of
joumal entries and c¢ther adjustments,. assessing whether the judyementg made in making accounting eytlmates
are indicative of a potential bias., and evaluating the business rational8 of any significant transactions that a
unusual or outside the norm81 course of business.
We also communicated relevant identified law5 and regulations and potential fraud risk5 to all engagement team
membeTS and remained alert to any indications of fraud or noncompliance wth laws and regulath.ons throughout
the audit.
Because of the inherent limitstions of an audiL thero is a risk trat we will not detect all irregularities, induding
those leading to a material misststement in the financial statements Dr non-complian￿ WTih regulation. This risk
incr&ase$ the more that ¢ompliance wth a law or regulaty'on is removed from the events and transaction5
refleded in the finanaal statements, as V￿ wll be less likely lo become aware of instanrxs of non-compliance.
The risk is also greater regarding irregulanties occurring due to fraud rather than error. as fraud involves
intentional concealment. forgery, collusion. omission or misrepresentation.
A further description of our responsibilities for the aL5dit of the financial statements is located on the Financial
Reporb"ng Council's webslte at.. www.frc.or
.uklauditorsres
on5ibililies. This description forms part of our
Auditors, Report.
Other mattars
The financial statements of Torbay Communty Development Trust Ltd for the year ended 31 March 2022, were
audited by another auditDr who expressed an unmodified opinion on those statements on 21 December 2022.
Use of our rnport
This report is Tnade solety to the charitable company's tnjstees, as a body, in accordance with Part 4 of the
Charities (Account5 and Reports) Regulations 2008. Our audr( work has been undertsken $0 that we might state
to the charrtable company's trustees those matters we are required to stste to them in an Auditors, Report and
for no other purpose. To the fijllest extent pemiitted by law, we do not accept or assume responsibility lo anyone
other than the charitsble company and its members, as a body, for our audit work, for this ￿pOrt, or for the
opinions we havp fomied.
Page 12

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
(A Company Limited by Guarantee}
INDEPENDEMT AUDITORS. REPORT TO THE fyIEMBERS OF TORBAY COMMUNITY DEVELOPMENT
TRUST LTD (CONTINUED)
Accendo Con$ulting Ltd
Chartered Certified Accountsntg & Statutory Auditors
Date.. 1 December 2023
Ac¢endo Consulting Ltd are eligible to act as auditors in temis of section 1212 ofthe Companles Ac¢ 2006.
Page 13

TORBAY COMMLINITY DEVELOPMENT TRUST LTD
(A Company Limltod by Guarantsel
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2023
As rpslated
Total
funds
2022
Unrestricted
funds
2023
Restricted
fund$
2023
Totsl
funds
2D23
Not•
Income from:
Donations and legacies
Charitable activities
Investments
soo
7.752
1,312.994
8.252
1.691.441
1,093
60,856
5,687
2,915.679
10,051
122, 785)
378.447
1.093
14.451
other income
46.405
Total Income
394.491
1.367.151
1,761.642
2.908,632
Expenditure on:
Raising funds
Charitable activities
Other expenditure
553
46,114
1,920,726
46,667
2,197.496
45,963
2,291,484
125,365
276,770
Totsl •XpendI￿r¥
277.323
1,966.B40
2.244,163
2,462.812
N•t movem?nt in funds beforè other
r•cognisèd yains
117.168
1599,6891
1482.S211
445,820
Oth&r rocognised gains:
Actuarial gains on defined benefit
pension schemes
26
149,000
149.000
26.000
Net movement In funds
266,168
1599,689}
1333,5211
471,820
Reconciliation of funds:
Total funds brought foward
Net movement in funds
58,$07
266,188
1,235.3SS
1599.6891
1,293.862
1333.5211
822,042
471,820
Total lund$ carried forward
324,675
635,666
960.341
1,293,862
The Statement of Financial Activrtitts includes all gains and losses re¢ogni5ed in the year.
The notes on pages 18 to 45 fomi part of these financial statements.
Page 14

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantee)
REGISTERED NUMBER: 07546840
BALANCE SHEET
AS AT 31 MARCH 2023
As restated
2022
2023
Note
Fixed a550ts
Tanglble assets
15
26.964
32,431
2S.964
32.431
Curr•nt as￿ts
Debtors
Cash at bank and in hand
16
80,517
980,593
250.856
1.268,339
1,061,110
1,519, t95
Creditors.. amounts falling due vlthSn one
year
17
(95,733
(103, 764)
Net current 3$$ots
965,377
1,415,431
Total assel* I￿$ eurr•nt liabilltles
992,341
1,447,862
Not assets excludlng penslon Ilabllity
Defined benefit pension scheme Ilabilty
992,341
1,447,862
26
(32,0001
(t54,OOOJ
Total not ass&ts
960,341
1.293.862
Charity funds
Restricted funds
Unrestricted funds
Unrestricted funds excluding pension asset
Pension reserve
20
635,666
t,235,355
20
20
356,675
(32,0001
212,507
(154,000)
Totsl unrestricted fijnds
20
324,67S
58,507
Total funds
960.341
1.293,862
The entity was entiued to exemption from audit under section 477 of the Companies Act 2006.
The member5 have not required the entity to obtain an audit for the year in question in accordance with $e¢tion
476 of the Companies Act 2rio6.
However, an audit is required in accordance wth section 144 of the Charities Act 2011.
Page 15

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Llmitgd by Guarantee)
REGISTERED NUIIIBER: 07546840
BALANCE SHEET ICONTINUED)
AS AT 31 MARCH 2023
The Trustees acknowledge their re5ponsibilitw for comptying with tha rèjuirements of the AL* with respect to
accounting record8 and preparation of finanryol stetemants.
The financtal statements havo been prep?￿d in accordance with the provisions applicable to entities Subl￿t to
the small companies regime.
Thè financi
talements were ¥¥proved and authorised for issue by the Trustees and signed on their behatf by."
S MJrtin
(Treasurer Tnjstee)
Date.. 1 December 2023
The notes on pages 18 to 45 fom part ofthese financial statements.
Pag8 16

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
As restated
2922
2023
Cash fiows from oparating activiti•s
Net cash used in operating octivibes
1280,1581
385,061
C￿h flows from inv•sting activitios
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
1,093
51
3, T80
f22.481)
18.681)
Net ush usèd in inv•sting acti¥iti•s
(7,588)
118,650)
Cash Ilows from flnanclng acllvltlo•
Nol ca$h provlded by financing actsvitios
Ch8nge In cash and cash equlvalents In thg yoar
Cash and cash equlvalents at the beginning of the year
{287.7461
1,268,339
366.411
901,928
Cash and Gash aquivalonts at the end of th? yoar
980.593
1,268,339
The nt)tes on pages 18 to 45 fom) part of thesg finaNal statements
Page 17

TORBAY COMAIUNITY DEVELOPMENT TRUST LTD J.:
(A Company Llmited by Gu•rants•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
General Inforniation
Nature of opèrations
Torbay Communty Development Trust Ltd is a registered charity incorporated in England & Vvales. The
charity aims to empower local cOmmun￿eS through partnerships, support services, and project
management. It also promotes volunteering and civic engagement to drive sustainable ￿MMUnitY
development.
The registered office of the Charty is located at 4-8 Temperance Street, Torquay. TQ2 5PU.
Legal forni
The charity is incorporated as a company limited by guarantee (Company number 075468401 and is
registered with the Charity Commission wrth the ￿gIStratIon number 1140896.
Currency
The financial statements are presented in British Pound81£l, %thich is the Charty's functional currency.
Accountiny policies
2.1 Basis of preparation of financlal 8tst8monts
The financial statements have been prepared in accordance wrth the Charitie3 SORP IFRS 102)
Accounting and Reporhng by Charities.. Statement of Recommended Prath"ce appli¢able to charitie5
preparing their accounts in accDrdsnce wth the Financial Reporting Standard applicable in the UK
and Republi¢ of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reportiny Standard
applicable in the UK and Republic of Ireland IFR8 1021 and the Companies Act 2006.
Torfoay Community Development Trust Ltd meets the definition of a public benefit èntity under FRS
102. Assets and liabilf(ies are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy.
P8ge 18

TORBAY COMUUNTfY DEVELOPMENT TRUST LTD
IA Company Umlted by Guardntse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Ac¢ounting pollcles Icontlnu•dl
2.2 Going concem
After maknng appropriate enquiries, the Trustees have a reasonablè expectation that the Charity ha5
adequate resources to continue in operational existence for the foreseeable future. FDr this rea50n.
they continue lo adopt the going concem basi5 in p￿parIng the financial ststements.
The financial statements have been prepared on a going concern ba515. which contemplates the
realisation of assets and the settlement of liabili118s in the normal couise of business for the
foreseeable future.
Fa¢tors Considered
While the Charity has experienced some fluctuations in it5 incprne which has declined this year. it
holds S￿nIfiCant liquid reserves. Th25e reserves are deemed suffiaent to cover operational costs.
overheads, and other financial commrtments for the fO￿Seeable fijture.
Managemenys Plans
Management continues lo monitor the Charity's financial posf(ion closely and has plans in place to
ensure the charity's Sustainability. These include ongoing revenue yen?rating activities and prudent
financial management.
2.3 Incomè
All income is recognised once the Charity has entitlement tr) the income. it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverabfe in relation to investment income is recognised at the b'me the investment
income is Teceivable.
Other income is recognised in the period in which it is receivable and lo the extent the goods have
been provided or on completion of the service.
2A Exp9nditur8
Expenditure is recognised once there is a legal or constructive obligation lo transfer ecDllQmiG benefit
to a third paty, it 15 probable that a transfer of economic benefits will be required in $ettlement and
the amount of the obligation ¢an be measured reliably. Expendrture is classified by a￿1VIty. The costs
of each activty are made up of the total of ￿1￿ct costs and shared costs, including 5UPPOrt costs
involved in undertaking each activty. Direct costs attributsble to a single activity are allocated directly
tc* that 8clivity. Shared Costs which contribute to more than one activity and support costs ￿lch are
not attributable to a single activity are appc*rtioned beiween those aclivib.es on a basis consislenl wth
the use of resources. Central 5tsff Costs are allocated on the basis of time spent, and depreciation
tharges allocated on the portion of the asset's use.
Expenditure on raising funds includeg 311 eXpendItLJ￿ incurred by the Charity to raise funds for its
charrtable purpose5 and includes costs of all fundraising activrties events and noTrcharitable trading.
Expenditure on charitable activities is incurred tsn directly undertaking the activitie5 which further the
Charity's objectives, as well as any a55ociated support costs.
Page 19

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
(A Company Limited by Guarnnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accounting policies Icontinuedl
2.4 Expenditure (Gontlnuodl
Gran15 payable are tharged in the year when the offer is made ex￿pt in those case5 where the offer
is condrtional, such grants btring recognised as eKpendilure when the cDnditions attaching are
fijlfilled. Grants offered subject to conditions which have not been met al the year end are noted a5 a
commitment. but not accrued as expenditure.
All expenditure 1$ inclusive of irrecoverable VAT.
2.$ Governm•nt grants
Government grants relating to tangible fixed assets are treated as deferred income and released to
the Staternent of Financjal Ath"Mties over the expected useful lives of the assets concerned. Other
grants are credited to the Statement of Yinancial Actiwties a5 the related expenditure is incurred.
2.6 Interest rgceivabl?
Interest on funds held on deposit is included vthen receivable and the amount can be measured
reliably by the Charity., Ihis is normally upon notthcation of the interest paid or payable by the
in$tsiution wth whom the funds are deposited.
2.7 Foreign ourrencies
Monetary assets and liabilities denominated in fO￿Ign currencies are translated into sterling at rates
of exchange ruling at the reporting date.
Transactions in foreign cuThencie5 are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are re¢ognised in the Statement of Financial AetNities.
2.8 Tangible fix￿ assets and depreciation
Tangible fixed assets costing £1k or more ale capilali5ed and recognised when fvture economic
benefits are probable and the cost orvalue of the asset ean be rneasured reliably.
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any ac¢LJmulated impairrnenl
10s5es. All costs incuThed to bring a tangible fixed asset into its intended working condthon should be
included in the measurement of cost.
Page 20

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies Icontinuedl
2.8 Tangib18 fixad assets and depreciation Icontinuedl
Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value
over their estimated usefvl lives.
Depreciation is provided on the following ba5iS".
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
10% reducing balance
330ts straight line
20°A straight line
25% straight line
Gains and losses on diSPL)s81s are detemiined by comparing th& proceeds vrith the carryng amount
and are recognised in the Stsl&mènt of FinanEial Activities.
2.9 Debtors
Trade and other debtors are recognised at the settiernent amount after any trade discount offered.
Prepaym&nts are valued at the amount prepaid net of any trade discounts due.
2.10 cash at bank and In hand
Cash at bank and in hand includes cash and short-temi highly liquid investments a short maturity
of three months or less from the date of acquisition or opening of the d*po$it or similar account.
2.11 Liabiliti
Liabilities and provisions are recDgniged when there is an obligation al the Balance Sheet date as a
resurt of a past event, it is probable that a transfer of economic benefit will be required in settlement.
and the amount of the settlement can be estimated reliably.
Liabilities are recogni5ed at the amount that the Charity anli¢ipales it will pay lo settle the debt or the
amount It has received as advanced payments for the goods or services it must PTovide.
Provisions are measured al the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts. discounted al the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount Is recognised in the Statement of Financial Activities as a finance cost.
2.12 Financial in$truments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instrument5. Basic finanGial instruments are initially re¢ognised al transaction value and subsequently
measured al their settlement value with the exceptt'Dn of bank loans which are subsequendy
measured at amortised cost using the Èffective interest method.
2.13 Opèrating leases
Renta15 paid under operating leases are charged to the Stslement of Financial Activities on a
slr3ighl-line basis over the lease temi.
Page21

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
(A C¢)mpany Limited by Guarantsèl
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng policies Icontinuedl
2.14 Pensions
Th? Charity operates a defined contribution pension scheme and the pen$ion charge r&pre5en15 the
amounts payable by the Charity to the ￿nd in respect of the year.
The Charity operates a defined benefits pension scheme and the pension d)arge is based on a full
actuarial valuation dated 31 March 2022.
In October 2014 ￿ Torbay Council employees were transferred lo the Charity's empltsyment under
the TUPE Regulations and as part of the transfer the employees. pensiDn benefits needed to be
transferred. The Charity did not have a pension scheme and the￿fOre became a member of the
Devon Local Government Pension Scheme which is a Multi-employef Defined Benefrt Scheme
administered for the benefft Df local authoribes and other bodies in acBordance wth the local
Government Pension Scheme Regulations.
The Charity recognises a defined net benefrts pension asset or Ilability in the staternent of financial
positson as the net total of the present value of its obligations and the fair value of plan assets Olrt of
which the obligations a￿ to be settled. The defined benefit liability Is measured on a discounted
present value ba51s using a rate detemiined by reference to market welds at the reporting date on
high quality corporate bonds. Defined benefft obligations and the related expenses are measured
using the projected unit credit method. Plan surpluse5 are recognised as a defined benefit asset only
to the exlent that the surplus is ￿coVerable either through reduced contributions in the future or
through refunds from the plan.
Changes in the nel defined benefit asset or liability arising from employee Service are racognisèd in
inBome or expenditure as a current yervice cost wheff il relates to 5etvices in the C￿r￿n1 period and
as a past service cost where it relates to services in prior periods. Costs relating ID plan introduction5,
benefit changes, curtailments and sett]ements are recognised in income or expenditure in the period
in which they 0￿Ur.
Net interest is deterniined by muttiplying the net defined benefit liability by the discount rate, both as
determined at the start of the reporting period. taking aG¢ciunt of any Ghanges in thè net defined
benefit liability during the period as a result of contribution and benefft payments. Net interest is
recognised in income or expenditure.
2.15 Fund oceounting
General funds are unrestricted funds which a￿ available for use at the discretion of the Trustees in
furtherance of the general objective5 of the Charity and which have not been designated ftsr other
purpose5.
Restricted funds are funds which 8re to be used in accordance wlh specific restrictions imposed by
donors or vthich have been raised by the Charity for particular purposes. The costs of raising and
administering such fvnds are Gharged against the specific fund. The aim and use of each re5tn'¢ted
fund is sel out in the notes lo the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 22

TORBAY COMIAUNITY DEVELOPMENT TRUST LTD
IA Company Limited by Guarantso}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Critical accountlng gstlmatg$ and areas of judgment
The preparation of fin8nci81 5tstements in conformity with FRS 102 requires management lo make
judgments. estimates. and assumptions that affect the application of policies and reported amounts of
assets and liabilities, income, and expenditure.
Estimates, associated assumptions and judgments are Continual￿ evaluated and are based on historical
experience and various other factors, induding expectations of future events that are believed to be
asonable under the circumstances.
Critscal accounting ests'mates and assumptions:
The Charity makes eslimales and assumptions concerning the future. The resulting a￿UntIng estimates
and assumption5 will. by definib"on, seldom equal the relatpd actual results. The estimates and
assumptions that have a signffi¢8nt risk of causing a material adjustment to the carrying amounts of
assets and liabilities Mthin the next finanaal year are discussed below.
1. Defined Benefit Pension Scheme
Estimation of the pension liability involves a nurnber of critical assumptions inciuding." the discount rate,
future salary increases, mortality rates, and future pension increases. Due lo the complexity of the
valuation and it5 long-temi nature. a defined benefft obligation is highly sensitive to changes in these
assumptions. Al assumptions are ￿vieWed at each reporting date.
The mortality rate assumption is based on publicly available Mortality tables in the UK. FLrture salary
increases and pension increases are based on expected future inflation rates in the UK. The discount rate
is determlned using the weld on high-quality corporate bonds that have maturity dates approximats.ng the
terms of the charity's pension liability.
Any difference be￿een the assumptions and the aclLJal outcome. or changes in the assumptions, may
impact the recorded pension liability and the associated pension expense.
2. Depreciation of Tangible Fixed Assets
The ests"maled Ltseful lives of the ¢harills tangible fixed assets determine the amount 01 depreciation
expense recognised in the 5taterllent of financial activities and the carrying amount of the assets in the
balance sheet. Management reviews the estimated useful lives of tangible fixed assets at each reporting
date based on factors such a5 wear and lear of the assets. techntslogical advancements, and industy
practices. Changes in these eslimales may resLJtt in changes to the amount Ctf depreaation expense
recognised in future periods.
Page 23

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company LtmÉtsd by Guarante¢}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from donations and l•g•cie$
Unrostricted Rostrlctsd
funds
funds
2023
2023
Total
fund5
2023
Donations
500
7,752
8.2S2
Un￿striCted
funds
2022
R8st17Cted
fvnds
2022
Tot81
funds
2022
t)onallons
4.687
5.687
Incom• from charitsbla actlvlties
Unrestricted Rastricted
funds
funds
2023
2023
Total
funds
2023
Fares received
Concessionary fares received
Hire of bus
Perfomance•related grants
Management Fees & Overhead Contribution
Fundraising Advlce & Courses
Contractul In¢ome
4,241
19.795
5.006
1.198.905
15.0001
4,241
19,795
5,006
1,205.881
276.114
59,681
120.723
6.976
281,114
59,681
30,676
90,047
378,447
1.312,994
1.691.441
Page 24

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Limltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Income from charltsble actlvltles {continuodl
As restated
Total
funds
2022
Unr&stricted RBstsictad
funds
funds
2022
2022
Fares receiv
Concesstonary fares received
Hire of bus
Perfomiance-relaled grants
Management Fees & Overhead Contrijyjlion
Fundraising Advice & Cour5e5
cC￿traCtUal Income
4,253
13,810
1,606
2,269,884
5,266
4,253
13,810
1.546
2,292,834
184,404
8,875
409,957
(60)
22.950
IT9,138
8,875
24,345
385,612
235,248
2.680,431
2.91&679
Investmont Income
UThrestrTCted
funds
2023
Totsl
funds
2023
Investment income
1,093
1.093
As reststed
Total
funds
2022
un￿st17ct8d
fijnds
2022
Investment incom?
Pension income
51
io.ooo
51
10,000
f 0,051
10,051
Page 25

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
{A Company Limited by Guardnteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Oth•r incoming r•source8
Unrestrlctsd Re5trictsd
funds
funds
2023
2023
Totsl
funds
2023
Other income
14,451
46.405
60.856
As rpsta(ed
Total
runds
2022
Unrestricted
fvnds
2022
R8StriGted
funds
2022
other income
(22,790)
(22,785)
Analysi5 of grants
Grants to
Grants to
Instltulions Individual$
2023
2023
Total
fund5
2023
Grants
56S
565
As restated
Total
funds
2022
Grants to
Institutions
2022
Grants k) Institutions
1,533
t.533
Page 26

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Llmlted by Guarant¢el
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Anatysls of expendlture on charltable actiYltle&
Summary by fund typo
Unrestrlctod Rgstrletgd
funds
fund$
2023
2023
Total
2023
Chantable adivilies
276,770
1,920,726
2,197,496
Unrgstrictsd Restricted As Trstaled
fijnés
funds
Total
2022
2022
2022
Charltable actfvitles
1.087.T47
1,203, 737
2,291,484
10. Other oxponditur•
Total
funds
2023
Unr8striGted
funds
2022
Totsl
fvnds
2022
Loss due lo Cyberattack
125,365
124365
Page 27

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Limlt•d by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
11. Analysis of expendliur& by actlvitiès
tlvltios
undertaken
diTr¢ty
2023
Grant
fundlng of
actlvltie$
2023
Support
costs
2023
Totsl
funds
2023
Charitable activities
2,051,207
565
145.724
2.197.496
ActNitps
undertaken
diTrctly
2022
Grdnt
funding ol
activit￿S
2022
As r&st8tsd
Total
funds
2022
Support
Gosts
2022
Charitable actiwtses
2,248,541
1,533
41,410
2.291,484
Analysls of dlr•et ¢osts
Activities
undertakgn
directty
2023
Totsl
fund
2023
Pension finance costs
Staff ¢osts
Other charitable athvrtfes Costs
14,000
1,142,731
894,476
14,000
1,142,731
894,476
2,051,207
2,051,207
Page 28

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Umitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
11. Anatysis of expenditurn by actlvltles Icontlnuadl
Analysis of direct costs Icontinugdl
Activit￿$ As restated
undertaken
Total
directly
funds
2022
2022
Staff costs
Other charitable actiwUes costs
1. 122,296
7, 126.245
1, 122,296
1, 126,245
2,248.541
2,248.541
Anatysis of support costs
Charltablo
actlvftles
2023
Total
fund$
2023
Management and adminislratiun of charlty
Governance costs
94,586
51,138
94,586
51.138
145.724
145,724
As rgstated
Total
funds
2022
Chanfable
activities
2022
Event and meeting costs
Gain I lo$$ on disposal of tangible fixed a$$ets
Governance costs
14,685
548
26,177
14,685
548
26,177
41,410
41,470
Page 29

TORBAY COMMUNITY DEVELOPMENT TRUST LTD ltr-',¥.￿i.&..-
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
12. Auditors.. remunaration
2023
2022
Fees payable to the Charitl5 auditor for the audil of the Charitys annual
accounts
5,000
10.046
Fees payable to the Charity's aLKtitor in resped of
I non-audit seNces not induded above
1,650
13. St•ff costs
As rnstated
2022
2023
Wage5 and salaries
Social seGurtty costs
Contribution to defined contribution pension g¢hemes
Operating costs of defined benefft pension schemes
1,027.447
93,887
21.397
33.OlX)
817,826
247,081
57,389
16.000
1.175.731
I, f38,296
The average number of persons employe(I by the Charty during the year was as folltsws..
2023
2022
No.
Administration and management
51
No employee received remuneration amounting to more than £60,000 in either year.
14. Trustees, remuneratlon and expenses
During the ye8r, no Trustèes received any remuneration or tsther beneffts f2022- £NILJ.
During the year ended 31 March 2023. no Truslee expenses have been incurred {2022- £NIL).
Page 30

. TORBAY COMMUNITY DEVELOPMENT TRUST LTD 4,;
{A Company Limitsd by Guarantèo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. Tangiblo fixed assets
Plant and
machinery
Motor Fixthre$ and
v•hicl•s
rittings
Computgr
equipmont
Total
Cost oi valuatlon
At 14Trri12022
Additions
10.649
23.450
16.419
22.728
6.681
73,246
8.681
At 31 Mar¢h 2023
10.649
23,450
16,419
31,409
81.927
Depre¢l•tlon
At 1 April 2022
Charge for thè year
10.083
57
6,276
4.437
13,834
2,487
10,822
7.167
40.815
14,148
At 31 hAarth 2023
10,140
10,713
16,321
17.789
54963
Net book valu&
At 31 March 2023
609
11737
98
13,620
2$,964
At 31 March 2022
566
IT.174
2,585
12, 106
32,431
16. Debto
As restated
2022
2023
Du• within on• year
Trade debtors
78.481
248, 162
Other debtors
Prepayments and accrued income
1.388
80.517
250,856
Page 31

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
{A Gompany Limitsd by Guarantsè}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AIARCH 2023
17. Crèdltors: Amounts falling duè wlthin one year
As re5tatsd
2022
2023
Trade creditDrs
other tsxation and socl818ecurity
Other creditors
Accruals and deferred income
26.271
28.920
2.909
37,633
31,559
23,370
272
48,563
95,733
103,764
18. Flnanclal Instrum•nts
2023
2022
Flnan¢lo1 assets
Financial assets measured at fair value through income and expenditure
980.593
1,268,339
Page 32

TORBAY COMMUNrrY DEVELOPIIENT TRUST LTD Its.:,
IA Company Limit•d by Guarantsèl
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
19. Prlor year adlustments
The following prior year adjustments have been made to the financial slalementS to correct errors and
re¢lassify certain itgms..
1. Other Dèbtors. Prèpaymènt and Accrued Income:
Accrue(l inGome was reduced by £27,855 and other debtors balance was roduced by £28,190 to ensure
only bal8nces that were receivable as of 31 March 2022 are included.
Imp8Ct.'
Debtors balan¢e redu¢ed by £56,045
Expenditure increased by £56,045
2. Accruals and Other Croditors:
PAYE liability to HM Revenue and Custom5 {HMRC) has been separately disclosed, amounting to
£23,370. Accruals balance brought fo￿arrf from prior yèars was reversed1£20,9451, and other balances
brought forward from prior years were reversed by £14,755.
Impact..
CredTrlors and expenditure reduced by £35,700.
3. Ststement of Financial Activities ISOFAI Raclassifications:
Defined Benefit Pension..
A gaIr￿o$S of £26,000 was previously netted off against expenditure. This has been Corrected to
separately disclose finance income, interest charge. and gainlloss.
Impact..
Interest income in¢r&ased by £10.000
Current seNice cost increased by £36,000
Pension gainlloss in¢reased by £26.000
Payroll..
Salary sacrifices amounting ¢0 £39,000 were inGorredy included in the pension charge for the year. These
have been redassrfied to salary cost.
Impact..
Wageg and salaries increased by £39,000
Pension costs decreased by £39,000.
Overall impact on net surplus and funds balances:
Net surplus for 2022 reduced by £20,346. from £492,16S 10 £471,820.
Restricted fund balance reduced from £1,255,701 to £1.235,355.
Total funds balance reduced from £1.314.208 to £1,293,862.
Page 33

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
(A Company Limited by Guarantsel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PIARCH 2023
Statwn•nt of funds
statemont of funds- curr•nt yoar
Balance at
31 Ma￿h
2023
Balance at 1
Aprll 2022
Gains1
(Losses)
Income Expanditure
Unrestrfctsd funds
General Funds- all fiJnLts
Pen¥on reserve
212.507
1154,0001
394.491
(250.3231
127.0001
356.675
(32.000)
149.000
58.S07
394.491
(277.3231
q49,000
324,675
R￿tricted fund$
Restricted Funds- all fvnds
Unallocated amounts
1,23S,355
1,367,151 (1.998,311)
31.471
604195
31,471
1.235.355
1,367.1SI
11,966.8401
635,660
Total of funds
1.293.862
1,761.642
12.244.163)
149,000
960.341
Page 34

TORBAY CONIMUNITY DEVELOPMENT TRUST LTD
(A Company Llmited by Guarnnte¢l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
20. Staternent of funds {continuod)
statsment of tsnds - prior y•ar
As restated As ￿stat8d Balance at
Trnnsf&
Gain
31Ma
in/out
(Loss85)
2022
Balanc& at As restatgd As restated
l Apnl 2021
InGomg Expendrfu
Unrostricted
funds
General Funds-
all funds
Pension reserye
354,943
(174.000)
236,244
(267.799J
{6.OOOJ
(110,881)
212.507
(154,OOOJ
26,000
18Q,943
236,244
(273,799)
(110,881)
26,000
58.507
Rostrictsd
funds
Restiicted Fund$
all funds
641,099
2,690,243 (2,206,868J
110,881
1,23&355
Total of funds
822.042
2,926,487 (2,480.$67)
26,QOO
1,293.862
21. Summary Off￿dS
Summary of fund8- currnnt yoar
Balance at
31 March
21123
Balanca at 1
April 2022
Gainsl
LO￿￿)
Incomo Expendttur•
General fvnd$
Restricted fund8
68,507
1,235,355
39U91
(277,3231
1.367.1S1 {1.966,8401
149,000
324,675
635,886
1.293,862
1,761,642 {2,244.1631
149.000
960.341
Page 35

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD ,4j:.
IA Compony Llmltsd by Guarnnteel
, NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
21. Summary of fund8 {contlnued)
Summary of fund$ - prlor y￿r
As rgslated As t9stated
T￿nSfor$
Gains/
in/DUt
(Losses)
Balance at
31 March
2L722
Balance al As Trst8led As rgstafed
l Apiil 2021
Income Expenditure
General fvnds
Restrrcted funds
180.943
641,099
236,244
{2T3, 7991
2,690,243 (2,206,868)
(110,881)
110,881
26,000
58,507
1.235.355
822.042
1926,487 (2,480.66T)
26,000
1,293,862
Page 36

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEAIENTS
FOR THE YEAR ENDED 31 MARCH 2023
21. Summary of funds Icontinuedl
Summary of funds
Advice and Medlatlon
An independent free of charg& Advice and hAediation sèrvice provided to pupils who are at ri$k of
ex¢lusion from educats"on.
Asylum Seekers
In October and November 2022, two Torbay hotels were opened to house asylum seekers and thildren
of asylum seekers. The TCDT was asked to provide a hybrid of support, induding volunteer placements,
health and wellbeing acb"vilie5, English language da55es. homework cjubs. social events, sports, green
space and community projects and employabilty skills. This support has been provided in partnership
with volunteers and other VCSE groups vknere possible.
8roadsands, Churston and Galmpton Nelghbourhood Forum
TCDT provide a banking facility tL) Broadsands, Churston and Galmpton Neighbouthood Forum who are
responsible forthe Broadsands, Churston and Galmplon Neighbourhood Plan.
Buildlng B•tt8r Opportunities
A National Lottery and European Social Fund Project targets'ng the over 25 year olds fijrthest from the
Labour market back into employment.
Bushcrafts Skills
Recovery grant funds held by TCDT on behalf of organisab.on worknng wlh clients in recovery to assist
them in leaming new skills.
CAF GRANTS
Grants hèld for other organisaliong without a Charities Aid Foundation bank account.
Community First
Remaining funds from grants awarded from Ellacombe, Blatchcombe and Tomiohun Community First
Panels, to be allocated to complernenlary projeGts.
Communlty Bullders
Our team of Community Builders work in the 30 Neighbuurhoods across Torbay supporting residents to
make their community the best it can be. They particulady focu5 on reconnecting people that are
experiencing isolatton. Fomierty focussed on isolated people over 50 the Communty 8uild¢r now sUPPOrt
any age group.
Community Centres
Funds prowdèd by Torbay Council to review the work and support needs of the Community Centres in
the Torbay.
Communty Grants
Grant scheme administerèd tsn behalf of Torbay Councti.
Cownmunity Investment Fund
Public Health funds to support the community led PTevenlats"ve approaches to improve healthy lifestyles.
Community Knowledge Fund - Young Fund
The Young Foundab"on awarded us a grant of £10.000 from the Community Knowledge Fund Programme
in Feb 2023. enabling us to support community groups and organi581iDns to pSay a stronger role in
research and innovation by developing and tests'ng new idttas and approaches to sharing and using
Pag? 37

TORBAY COMMUNITY DEVELOPMENT TRUST LTD d,- '
{A Company Limltsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
21. Summary of fund$ Icantinued
kn¢)wledge held within communib'es to make progress on local and national challenges. Our project
worked ￿￿th communrties to understand h¢)w communities define 'resilience' and build a framework lo
improve community kno￿edge and resilience, as well as innovate.
C05t of Livlng - One Dewon
The TCDT administered a gTant fund tsckling the Cost OF Living Crisis in Torbay provided by One Devon.
Evestroll (Evèning Strollers)
Fund3 held on behalf of an evening strolling group.
Gardon$ and Green5 IHÈlgs Angelsl
Funds received to support the Gardens and Greens Project transferred lo the TCDT on the wnd up of
Hele's Angels.
Good Practice Mentors
The Good Practice Mentor IGPM) programme is a project that brings together legacy, leaming and
resour￿3 from the national Ageing Better Programme, a seven year Test & Leam project that worked lo
reduce social isolation and loneliness in people aged over So and funded by the National Lottery.
Through this programme the TCDT is sharing the learning from the SU￿esSfUl Ageing Well Programrne
in Torbay.
Health and Wellbeing Voluntary Sector Nètt¥ork
This neknrk brings trtrgether over 200 voluntary sector organisations vA)o wDrf( in the field of health and
wellbeing in Tort>ay. The TGDT 1$ a steering gioup member and 15 currently holding funds to be utilised in
support of the wellbeing of VCSE staff on b&half of the N2￿rk.
Hèlpline
Funds received to continue the Community Helpline set up during the Pandemic and adapt to current
needs. including the Front Door project where the Helpline takes new referrals to Adult Social Care.
Jamta5tic
Recovery Grant funded held by TCDT on behalf of an organi5ation providing distraction therapy sessions
for people in recovery lo make live music and jam wth others helping them to gain confidence and leam
about co-operation and hatrnony in workn.ng together.
Imagine Thls
Funds received to support the Imagine This Partnership to support and unite voluntary sector
organisakn"L)ns wotking wth children, young people, and families in Torbay.
Local Motion
TCDT hosts the Local Motion fund for Torbay. Local Motion is building a social. economic and
environmental jusliGe movement, by communities. for cornmunilies_ It seeks to understand local
strengths In the places where we live and work. aiming to challenge typical power structures and
hieTarchies that become barriers lo a community's progress and hold areas back. Torbay is one of six
areas in the UK testing the Local Motion approach.
NATGC
Funds held for Newtt>n Abbot and Torbay Games Club.
Mental Health and Engag?m8nt Project
TCDT coordinated a network of 5m311er tsrganisalion5 to prO￿lde mental heahh support in local places of
Pag? 38

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Limltod by Guarontso)
NOTES TO THE FINANCIAL STATEIIIENTS
FOR THE YEAR ENDED 31 MARCH 2023
21.
Summary of fvnds (continued)
welcome as Torbay emerged from the pandemic.
Mèntal Health Precept
Fund$ prDvided by Torbay Counul to match Ag&ing Well resources to create peer group actiwtie$ for
people with mental heath issues.
Ourt)u$
A community transport scheme launched to meet transport gaps in the Bay, this includes the provision of
the No.61 and No 65 scheduled bus seTvices and regular bus trips for those who are lonely and isolated.
PA Devolopm•nt
To develop individuals as Personal Assistants to support client maktng choices under the new care
model.
Paignton N•ighbourhood Forum
Funds received to relaunch and support the Paignton Neighbourhood Forum.
PHA8
The PHAB group inspires and supports Children. Young People & Adults with and ￿thout disabilib'es to
make more of life together and creating opportunities for young people. Fomierly based wth Ywth
Genesis the prolecl was ho$led by TCDT after the cl95ure of Youth Genesis, while the staff established
cic.
Public Health and Social C¥ro
A Continuation of our wgtk with oldw people. This fvnding enables tc* run a LNe Longer Better
programme, conb'nue to support the Assembty and the Age Friendly Torbay ne￿ork.
SENDIASS
Is an independent support 5eTvice pioviding free confidential and impartial advice and information for
parents and young people in relation to young people'5 special educational needs andlor disabilities.
Shiphay Communlty Partn9r$hlp
The Shiphay Community Partnership works to improve the qualty of life for people in the Shiphay
electoral ward in T()rquay.
Sober Companion
Funds held to lacilitale the purchase of items for client5 in reGovery.
Steps Forward
Project to support local people in recovery from alcohol or substance use into volunteering positions, wrth
a view lo their re-entering the job markeL The projed provides one lo one support, training, and volunteer
placements.
Suicide Prevention
Administration of a grant fund targeted at suicide prevention.
Torbay Communlty Partngrships ITCPI
An umbrella charity that is the goveming body of the Community Partnerships ￿2￿rk in the Torbay area
providing support for residents to improve the quality of life in their local areas. Administrative support 15
PfDvided lo the TCP by the TCDT , Including the use of banking facilities.
The FoDd AllianeÈ
Page 39

TORBAY COMMUNtrY DEVELOPMENT TRUST LTD
{A Company Llmited by Guarantee>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
21. Surnmary of fund$ l¢wtinu•d
Funds awarded to support TO￿aY Fwd Alliance.
Torbay Soup
An ¢)ccasional microwfvnding event with the Succèssful oryanisation taklng the proceed5 of the evenL
Traders Reglstpr Projact
Funds provided by the ¢C￿OperatiVe to develop support for wjlnerable people Trthen seeking quotes for
work from traders. Project includes volunteer advocatèg and training for traders to understand the needs
of variou5 vulnerable groups.
Tradlng Ami
Funds to create a new CIC set up to enable us to share the leaming from our work over the last eight
yeats wth organisations and groups outside of Torbay.
Wlntèr Dlscharg8
Funding for the VCSE to reduce the pressurès on the NHS during wlnter period. this Indudes the home
from hospital project.
22. Analysls of net assets b•trHo•n funds
Analysis of fiot ass•ts between funds- currentyoar
Unrestrict•d Re$trlet•d
fund5
2023
Total
funds
2023
2023
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
Difference
19.102
464.777
195.733)
132.0001
131.4711
7,862
596,333
26.964
1.061.110
(95.7331
132.0001
31.471
Total
324.675
635,666
960.341
Paye 40

TORBAY COMMUN17Y DEVELOPMENT TRUST LTD -: H.k':
IA Company Llmltsd by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
22. Analysls of not assets Ltheen funds (contlnuedl
AD•lysis of net a$$ots bet•4wn funds . prfor yoar
Unrestiycted
funds
2022
Restricted
funds
2022
Total
runds
2022
Tangible fixed assets
Current assets
Cieditors due within one year
Provisions for liabilities and charges
22, 120
248,927
(58.540)
(154.000)
10,311
32,431
1,270,268
1.519. 195
(45,224) (103. T64)
{154,000)
Totsl
58,507
1,235.355
1.293.862
23. Rg¢on¢lll•tlon of n&t movemgnt in funds to n•t ¢a$h flow from op•rating activities
2023
2G122
Net incomelexpendiiure for the year (as per Ststement of Finanual
Activits'esl
1482.5211
445.820
Adjustments for:
Deprauation charges
Dividends, interests and re￿ts from Investments
Loss on the sate of fixed assets
Decreasellincreasel in debtors
Increasel{decrea5el in creditor$
Defined benefit pension net charye$
14148
{1.0931
10.548
(51J
548
(96.876)
19,072
170.339
18,0311
27,000
N•t cash provided byllused in) opornting activities
{280,1581
385,061
2& Analysis of cash and cash equlvalonts
2023
2022
Cash in hand
980.593
1,268.339
Totsl c•sh and Cash •quivalents
980.593
1,268,339
Page 41

TORBAY CI)MMIJNrrY DEVELOPMENT TRUST LTD
IA Company Limitsd by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
25. Analysis of ¢hang•s in net debt
At 1 April
2022 Cash flows
At 31 March
2023
Cash at bank and in hand
1.26B,339
{287.7461
980,593
1.26B,339
{287.7461
980,593
26.
Ponslon commllmonts
Defined cctntribution pension scheme
The Charity operates a defined cl￿tributiOn penslon scheme. The assets of the scheme are held
separately from those of the charity in an independently administered fund. The pension cost charye
represents contributions payable by the charity lo the fund and amounted to £21k 12022." £57kl. An
amount of £3k was payable to the fvnd at the balance sheet date and is included in creditors.
The Charty operates a defined benefit pension s¢heme.
The LGPS is a defined benefit slatutrjry scheme administered in accordance with the Local Government
Pension Scheme Regulations 2013 and currently provides benefits based on career average revalued
eamings.
Full detsils of the benefits being valued are as set out in the Regulations and sumnarised on the LGPS
website Iwww.Igpsregs.OTgl) and the Fund's membership booklet Iww.Igpsmember.Drgl-
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 adrninistration 1$ undertaken by a leatn
¥Mthin the administering authorty. Where appropriate some functions are delegated to the Fund's
profe55ional advisers.
On the Employerfs withdrawal from the Fund, a eessation valuation wll be cartied out in accordance wth
Regulation 64 of the GPS Regulations 2013 which wll determine the termination ￿ntribUtIon due by the
Employer, on a set of assumptions deemed appropriate by the Fund Actuary.
The most recent cornprehensive actuarial valuation of the LGPS was at 31 March 2022. In completing the
calculations for pension accounting purposes, the actuary, Barnett Waddingham, also used the followng
rtem5 of dats. which were received from the administering authority..
Results ofthe latest funding valuation as at 31 March 2022
Resutts of the previous FRS102 report as al 31 March 2022
Fund asset statement as al 31 March 2023
Fund income and expenditure items to 31 March 2023
Employer income and expenditu￿ items to 31 March 2023
Details of any new unreduced eady retirement payments to 31 Ma￿h 2023
Details of any setuements lorfrom the Employer for the period to 31 March 2023.
Pago 42

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Llmited by Guarants81
14OTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 KWiCH 2023
26. Penslon commitments Icontlnuedl
Principal actuarfal assumptions al the BalanGe Sheèt dal? (expressed as weighted averages):
At 31 March At 31 Ma￿h
2023
2022
Dlscount rate
FU￿re salary increase8
Future pension increases
Inflation assumption
3.85
2.85
4.15
3.15
2.85
3.15
At 31 March At 31 Match
2023
2022
Years
Years
Mortalty rates lin years)
- for a male aged 65 now
- at 65 for a male aged 45 now
- for a female aged 65 now
- at 65 for a female aged 45 now
21.8
23.1
22.9
24.4
22.7
24
24
25.4
The Charity's Share ofthe a$5ets in the 5theme was..
At 31 March At 31 March
2023
2022
Equities
Gilts
Corporate bonds
Propety
Cash and other Ilquld assets
. Other
Overseas equities
23,000
24,000
36.000
6.000
25.000
3,000
40.000
135.(X)O
61,01)0
2S,000
3,000
46,000
128,000
Total hlrvaluo of assets
286,000
269.000
The actual relum on Scheme assets was £-10.000 (2022- £13,000).
Page 43

TORBAY COMMUNrrY DEVELOPMENT TRUST LTD
IA Company Limitsd by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 MARCH 2023
26. Penslon commltments Icontinuedl
The amourts recognised In the Statement of Financial Adivilies are as follows=
2023
2022
Current service cost
Interest income
Interest cost
33.000
7.0001
11.000
34,000
(5,000)
Totsl amount r•cognised In th• Statsmont of Financial Acilvltlos
37,000
37,000
ovements in the present valuo of the defined benefft obligation were as follows:
2023
Opening defined benefft obh'g*ion
Current service cost
Interest C05t
Contn"bubons by scheme participants
Actuarial gains
423,000
33.000
11,000
2,LXIO
1151,0001
C105ing d•fined btrMflt obligatlon
318.0011
Movements in the fair value of the Charity's share of scheme a8sets were as fotlows..
2023
Opening fair value of scheme assets
Expected retum on assets
Actyarial1059es
Contiibutions by employer
Contiibutions by scheme participants
269,000
(3,0001
{2,0001
20,000
2,000
Closing fair valuo of scheme assots
286,000
Page 44

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
IA Company Llmltsd by Guarantee)
NOTES TO THE FINAMCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
27. Operating lea88 commitments
At 31 March 2023 the Charity had commitments to make future minimum lease payments under no
cancellable operating leases as follows:
2023
2022
Not later than 1 year
Laterthan 1 year and not later than 5 years
4,724
5,962
1,124
1,686
10,686
2.810
Membèrs. liabilty
EaGh member of the charitable company undertakes to conth.bute to the a¥sets of the company in the
event of rt being wound up vthile helshe 1$ a member. or wthin c￿e year after helshe cea$es to be a
member, such amount as may be required. not exceeding £10 for the debts and liabilities contracted
before he15he ceases to be a member.
29. Rglatgd party transactlons
Dunng the year. the charitable company has received Services worth £19.600 from Whafs Your Problem
G.l.C, a Commuruty Interest Company which is connected to one of the trustee$.
Pag? 45

TORBAY COMMUNITY DEVELOPMENT TRUST LTD
RESTRICTED FUNDS
FOR THE YEAR ENDED 31 MARCH 2023
30.
Rvstrictsd fund$
Fund
At 1 Aprll 2022
18,289
Income
Exp
At 31 M•rch
2023
17,J27
34,572
5.012
22
Advice & Medi*ion
Asylum Seekers
BLbilding Better Opportunites
Bushcraft Skills
CAF Grant
Communty First
CDmmunity Buildets
Community Centres
Community Grant Fund
Community Investment Fund
Evening Strollers
Gardens & Greens IHeles Angels
Heatth and Wellbelng Voluntsry Sector Ne￿￿k
Hdpline
Jamtsstic
Local Motion
NATGC
Making Melville Marvellous
Mental Heallh & Engagement Project-, TWEP
Mental Health Co-Design
Mentsl Health Precept
Nth￿On Abbot & Torquay Games
PA Development
Art Recovery
Public Health and SorAal Care
S•ndiass
Sober Companion
Step5 Forward
Suicide Prevention
Winter Discharge
Broad5ands, Churst¢n and Galmpton Neighbourhood Forum
Community Kno￿edge Fund- Young Fund
Cost of Living- One Oevon
Good Practice Mentors
Imagine This
Older Citizens Forum
Phab- Acts"ng as bank account
Shiphay- Community Partnership
Torbay Community Partnership
Torbay Soup
Trader5 Register Project
Ourbus
30.000
68.294
94.180
30.942
33.722
105,812
16,644
22
751
81,987
5,Q)00
4,220
454
13
122
20.000
268,649
318
478.673
75
751
8B,609
509
24.946
454
13
122
19.981
244,JS2
318
26Z,736
76
315,729
5,000
95,000
486.325
509
6S,864
364.318
388.614
697
226.635
2.734
2,734
78,516
10,718
78,106
410
718
5.553
75
10,0
5,553
75
4.110
4,110
682
47,352
5.741
27
34,579
9,500
882
20,967
35,687
20,000
51,OCKI
46,38S
92,428
23,030
49.113
2,500
11,WO
8A96
7.000
11,000
6,000
7,000
11,720
8,000
47.860
49.224
21,209
24,950
14,973
1,000
36,140
49,269
103,779
18,554
14.973
500
5,180
152,311
69.741
6.396
3.500
12.348
368
1,299
Z1,032
635.866
17.528
1,299
2.500
1.235.355
120.952
1.367.151
102,421
1.966,840