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2025-03-31-accounts

Registered number: 07546840 Charity number: 1140896

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading As Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

TORBAY COMMUNITY DEVELOPMENT TRUST LTD (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 8
Independent Auditors' Report on the Financial Statements 9 - 12
Statement of Financial Activities 13
Balance Sheet 14 - 15
Statement of Cash Flows 16
Notes to the Financial Statements 17 - 45

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Trustees
J Colin,Chair
A M Manning,Vice Chair
S J Martin,Treasurer
J K Gunson,Trustee_(Resigned 18th July 2025)_
R J Higman,Trustee
J W Parker, Trustee
K Chivers, Trustee
M Newbury,Trustee
Senior Leadership
T Cabache (Director)
Team
J Arcus (Operations Manager)
E Muir (Programme Development Manager)
Company registered
number
07546840
Charity registered
number
1140896
Registered office
4-8 Temperance Street
Torquay
TQ2 5PU
Independent auditors
Albert Goodman
Goodwood House
Blackbrook Park Avenue
Taunton
TA1 2PX
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 1

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

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.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

Our overall purpose is 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 strategies for achieving this are:

• Encouraging people to do what they do best enabling people to connect and contribute to what they care about in neighbourhoods.

• Making connections, stimulating co-operation and new ways of working – creating the space and conditions for collaboration.

Page 2

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

c. Activities undertaken to achieve objectives

2024-25 was a year of both celebration and challenge. We continued our 10 year celebrations involving communities and organisations alike. We brought back a local Community Awards scheme with over 200 nominations and a ceremony at the Redcliffe Hotel for over 100 people – every one a winner. We were heartened by the efforts local people put into raising funds for our work this year, culminating in our 10[th] Birthday Ball at the Grand Hotel in November. We are held to account by the people of Torbay, and there is no greater acknowledgement of our work than local residents’ willingness to raise funds our activities, and indeed funds are needed.

Calls to our Community Helpline increased further this year. Brixham was engulfed by a cryptosporidium outbreak. The funding environment for our local voluntary organisations got even more demanding and most of the statutory organisations we work in partnership with are facing cuts, re-organisations and uncertain futures. It is a very unsettling time for everyone.

We continued unswathed to consolidate our work. Our Community Building team welcomed new members and continued to work in 29 of the 30 neighbourhoods in the Bay connecting people in the community, stimulating resilience, and directly supporting 1,056 vulnerable and/or isolated residents. The Torbay Tmebank has gained 43 new members this year making total membership 645 and the hours exchanged this year were 3,596. Our work with Asylum Seekers, Refugees and Ukrainian guests has continued to expand in numbers and complexity. Our Ourbus community transport service closed this year as we have successfully rebuilt the bus routes to be commercially viable again. We will miss our volunteer drivers and our passengers – but the future of routes 61 and 65 are now bright. Our Active Lives Programme for older people has continued to grow and we restructured the Imagine This Partnership of 50+ organisations working with children, young people and families to better meet the needs of younger people and partners. Our Community Funding Advisor has been very busy supporting smaller groups to access funds with 315 enquiries this year, and the successful management of the Council’s Community Fund and Smoking Cessation Fund. The Community Helpline has taken 11,807 calls, 795 online requests for support and 837 referrals from Adult Social Care. During this year the Helpline also processed 2,502 food parcels and supported 251 people out of hospital. Across our teams we have supported 227 groups and 3,570 individuals in total during 2024-25.

We have also increased our engagement and influence across Devon, and nationally, ensuring that the voices of Torbay residents are heard by One Devon NHS and the new Combined County Authority. Through our trading wing – Spindl CIC – we have shared our learning to influence new national policy in the areas of health and wellbeing. Conscious that we need to bring about long term change in the Bay, we have continued to host and support the Local Motion process – focused on local systemic change and we have expanded our community-based activities to mitigate against climate change.

We are working fully in the short, medium and long term to bring about positive change to Torbay. None of this would be possible without our dedicated staff, volunteers and partner organisations. They bring energy, innovation and commitment to everything we do, and for this we wholeheartedly thank them.

d. Grant-making policies

The Charity administers a series of grant programmes on behalf of other organisations, particularly Torbay Council. The grant making policies are determined by the organisation providing the grant funding.

e. Volunteers

The organisation has a total of 732 volunteers registered through the Community Helpline or working with Community Builders and our other programmes.

Page 3

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern 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 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: Fixtures and Fittings Straight Line over 5 years Computer Equipment Straight line over three years Vehicles Straight line over three years.

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 £145k as at 31st March 2025) and other expenses if the charity ceases to operate. The shortfall in general reserves has been accounted for and is planned to be recovered within the 2025/26 budget.

c. Summary

The total income for the year has increased from £ 1,873,564 to £2,724,396 due to the Local Motion Funding being received in advance. As at the 31 March 2025 the total funds of the charity were £1,450,431 (2024: £671,848) of which £124,725 (2024: £164,782) was attributable to unrestricted funds and £1,325,707 (2024: £507,066) was attributable to restricted funds.

Page 4

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

d. Principal risks and uncertainties

The Trustees have identified current risks under 5 headings of People, Governance, Operational, Financial, Environmental / External Factors, Compliance.

Risks currently identified are:

People

Recruitment and retention of appropriate staff Wellbeing of staff Sufficient Management Capacity Volunteering does not increase to support Helpline and other projects Loss of helpline leadership due to formal tender for 24/25 onwards

Governance

Not being compliant with the Charities Commission Governance Framework Range of skills and expertise on Board of Trustees, due to recent resignations. Equality, Diversity and Inclusion - Diversity of the Board - are we representative of our community

Operational

Working from home policy fails Health and safety - how do we ensure we have adequate processes in place Cybercrime - Ongoing exposure to future attacks eg Ransomware.

Financial

The charity is unable to draw down sufficient income to meet the fundraising target of £1-£1.13 million in 24-25 Over-reliance on funding from Torbay Council

The charity does not become financially sustainable from April 2026 Lack of sufficient reserves Identification of appropriate auditor

Environmental/External Factors

Impact of cost of living crisis on demand for service Climate Action requirements are beyond capacity of the charity.

There are no risks identified under compliance.

e. Financial risk management objectives and policies

The above risks are recorded on the Charity’s Risk Register. They are assessed by Likelihood and Impact giving a current risk scoring. The risk is allocated to a member of Staff/Governance. Mitigation strategies are identified and also assessed by Likelihood and Impact providing a residual risk. The risk register is reviewed on a quarterly basis.

f. Principal funding

The principal funding sources of income are grants from various bodies, but the amount of donations from individual and income from events has increased in the year.

Page 5

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

a. Constitution

Torbay Community Development Trust Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.

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 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 1 of the accounts.

c. Organisational structure and decision-making policies

The Charity has a flat hierarchical structure with staff involved in a considerable amount of decision-making There is a Senior Management Team of 3, including a Director who report to the Board of Trustees. The Trustees delegate the operations of the organisation to the staff, but they retain the decision-making powers over strategic issues.

d. Policies adopted for the induction and training of Trustees

New Trustees are selected on the basis of the contribution that they will make to the governance of the organisation and the skills that they will contribute. They are provided with copies of the Charity Commission’s guidance to Trustees and are given an introduction to the activities of the Charity by the existing board. They are also made aware of the Charity’s constitution, current financial position as set out in the latest filed accounts and our future and objectives. Trustees attend relevant training as required.

Page 6

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

e. Pay policy for key management personnel

The Charity operates a salary scale structure guided by the following parameters:

Benchmarking, range of training, skills and experience required, affordability for the organisation, retention, and the overall remuneration policy of the Charity.

f. Related party relationships

The Trustees work on a voluntary basis. None of the trustees received remuneration or other benefits for their work as trustee during the year under review, except those disclosed in Related Party transactions note to the financial statements. There have been no transactions or dealings with any individual or entities connected to trustees or any other related parties.

g. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

h. Trustees' indemnities

The Charity has granted an indemnity of up to £500k to its trustees against liability in respect of proceedings brought by third parties. Such qualifying third-party indemnity provision remained in force during the year and as at the date of approving the trustees’ report.

Plans for future periods

The Charity’s Plan for future periods is to consolidate its activities, to remain responsive to the community’s needs, diversify its funding sources and develop a sustainability plan to become less reliant on grant funding.

Members' liability

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 of Trustees' responsibilities

The Trustees (who are also the directors of the Charity 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).

Page 7

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Albert Goodman, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

S Martin Treasurer Date: 15/12/2025

Page 8

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

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 2025, which comprise the Statement of Financial Activities Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 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:

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 charitable company 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 trustee’s 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 entity’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.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. 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.

Page 9

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT TRUST LTD

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities [set out on pages 7 and 8], the trustees (who are also the directors of the charitable company 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 charitable company'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 charitable company 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.

Page 10

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT TRUST LTD

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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:

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page 11

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY COMMUNITY DEVELOPMENT TRUST LTD

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees 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 charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Michelle Ferris BSC (Hons) FCA DChA Senior Statutory Auditor

For and on behalf of Albert Goodman LLP Chartered Accountants Statutory Auditor Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX

Date: 15 December 2025

Page 12

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other Income
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net movement in funds before other
recognised gains
Transfer Between Funds
18
Other recognised gains:
Actuarial gains on defined benefit
22
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2025
£
27,964
72,736
25,864
8,610
135,174

1,328
145,134
146,462
(11,288)
(27,769)
(1,000)
(40,057)
164,782
124,725		 Unrestricted
funds
2025
£
27,964
72,736
25,864
8,610
135,174

1,328
145,134
146,462
(11,288)
(27,769)
(1,000)
(40,057)
164,782
124,725		 Restricted
funds
2025
£
5,326
2,513,214
-
70,682
2,589,222
-
1,798,351
1,798,351
790,870
27,769

-

818,639
507,066
1,325,705		 Restricted
funds
2025
£
5,326
2,513,214
-
70,682
2,589,222
-
1,798,351
1,798,351
790,870
27,769

-

818,639
507,066
1,325,705		 Total
funds
2025
£
33,290
2,585,950
25,864
79,292

2,724,396
1,328
1,943,485

1,944,813
779,583
-
(1,000)
778,582
671,848

1,450,431		 Total
funds
2025
£
33,290
2,585,950
25,864
79,292

2,724,396
1,328
1,943,485

1,944,813
779,583
-
(1,000)
778,582
671,848

1,450,431		 As restated
Total
funds
2024
£
27,389
1,820,755
66
25,354
1,873,564
10,626
2,157,431
2,168,057
(294,493)
-
6,000
(288,493)
960,341
671,848


164,782
507,066
671,848
124,725 1,325,705 1,450,431

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 17 to 45 form part of these financial statements.

Page 13

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee) REGISTERED NUMBER: 07546840

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
Defined benefit pension scheme liability
22
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
Unrestricted funds excluding pension asset
18
Pension reserve
22
Total unrestricted funds
18/19
Total funds		 392,604
1,200,794		 2025
£
6,646

6,646

496,531

302,837

799,368

(141,130)

1,443,785

1,450,431

1,450,431
-

1,450,431
1,325,706

168,782

(4,000)

124,725

1,450,431		 2024
£
17,610
17,610




658,238
1,593,398
(149,613)
124,725
-
675,848
675,848
(4,000)
671,848

1,235,355


164,782
671,848

Page 14

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee) REGISTERED NUMBER: 07546840

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

These accounts have been prepared and delivered in accordance with the special provisions relating to Small Companies within Part 15 of the Companies Act 2006and the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102)

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

S Martin Treasurer Date: 15/12/2025

The notes on pages 17 to 45 form part of these financial statements.

Page 15

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
Cash flows from operating activities
Net cash used in operating activities23
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 17 to 45 form part of these financial statements		 2025
£
873,506		 2024
£

(682,839)
25,864
(1,413)
6,354

(1.271)
24,451
5,083
-
-
897,957
302,837
(677,756)

980,593
1,200,794
302,837

Page 16

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

1. General information

Nature of operations

Torbay Community Development Trust Ltd is a registered charity incorporated in England & Wales. The charity aims to empower local communities through partnerships, support services, and project management. It also promotes volunteering and civic engagement to drive sustainable community development.

The registered office of the Charity is located at 4-8 Temperance Street, Torquay, TQ2 5PU.

Legal form

The charity is incorporated as a company limited by guarantee (Company number 07546840) and is registered with the Charity Commission with the registration number 1140896.

Currency

The financial statements are presented in British Pounds (£), which is the Charity's functional currency.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Torbay Community Development Trust Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

The financial statements have been prepared on a going concern basis, which contemplates the realisation of assets and the settlement of liabilities in the normal course of business for the foreseeable future.

Factors Considered

The Charity has experienced an increase in income this year, but this is primarily due to its role as

Page 17

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

Fiscal Host for the Local Motion initiative. It holds significant liquid reserves. These reserves are deemed sufficient to cover operational costs, overheads, and other financial commitments for the foreseeable future.

Management's Plans

Management continues to monitor the Charity's financial position closely and has plans in place to ensure the charity's sustainability. These include ongoing revenue generating activities and prudent financial management.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Page 18

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 19

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery - 10% reducing balance Motor vehicles - 33% straight line Fixtures and fittings - 20% straight line Computer equipment - 33% straight line

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments 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-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result 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 recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at 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 at 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 instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 20

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2.13 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.14 Pensions

The Charity operates a defined contribution pension scheme for 2 staff and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. The pension charge is based on a full actuarial valuation dated 31 March 2022.

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 benefits 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.

The charity has complied with their statutory auto-enrolment pension duties. All eligible staff have been assessed and enrolled into the workplace pension scheme where required, and the necessary contributions have been made. In addition, the Trustees have submitted the required declaration of compliance to The Pensions Regulator (TPR).”

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted

Page 21

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

The preparation of financial statements in conformity with FRS 102 requires management to 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 continually evaluated and are based on historical experience and various other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

1. Defined Benefit Pension Scheme

Estimation of the pension liability involves a number of critical assumptions including: the discount rate, future salary increases, mortality rates, and future pension increases. Due to the complexity of the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

The mortality rate assumption is based on publicly available mortality tables in the UK. Future salary increases and pension increases are based on expected future inflation rates in the UK. The discount rate is determined using the yield on high-quality corporate bonds that have maturity dates approximating the terms of the charity's pension liability.

Any difference between the assumptions and the actual outcome, or changes in the assumptions, may impact the recorded pension liability and the associated pension expense.

2. Depreciation of Tangible Fixed Assets

The estimated useful lives of the charity's tangible fixed assets determine the amount of depreciation expense recognised in the statement 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 as wear and tear of the assets, technological advancements, and industry practices. Changes in these estimates may result in changes to the amount of depreciation expense recognised in future periods.

Page 22

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Income from donations and legacies

Donations
Donations		 Unrestricted
funds
2025
£
27,964		 Restricted
funds
2025
£
5,726		 Total
funds
2025
£

33,290

Unrestricted
funds
2024
£
147
Restricted
funds
2024
£
27,242

Total
funds
2024
£

27,389

5. Income from charitable activities

Fares received
Concessionary fares received
Hire of bus
Performance-related grants
Management Fees & Overhead Contribution
Fundraising Advice & Courses
Contractual Income		 Unrestricted
funds
2025
£
-
-
-
-
72,736
-
-
 Restricted
funds
2025
£

5,447

-

1,965
2,498,871

6,931
-
-		 Total
funds
2025
£

5,447
-

1,965

2,498,871

79,667
-
-
72,736 2,513,214
2,585,950

Page 23

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Fares received
Concessionary fares received
Hire of bus
Performance-related grants
Management Fees & Overhead Contribution
Fundraising Advice & Courses
Contractual Income		 As restated
Unrestricted
funds
2024
£
-
-
-
11,787
20,135
-
-
 Restricted
funds
2024
£

5,602

13,602
3,939

1,639,154

5,120
26,690
94,726		 As restated
Total
funds
2024
£

5,602

13,602

3,939

1,650,941

339,955

26,690

94,726
31,922 1,788,833
1,820,755

6. Other incoming resources

Other income
Other income		 Unrestricted
funds
2025
£
8,610		 Unrestricted
funds
2025
£
8,610		 Unrestricted
funds
2025
£
8,610		 Unrestricted
funds
2025
£
8,610		 Unrestricted
funds
2025
£
8,610		 Restricted
funds
2025
£
70,682		 Restricted
funds
2025
£
70,682		 Restricted
funds
2025
£
70,682		 Restricted
funds
2025
£
70,682		 Restricted
funds
2025
£
70,682		 Total
funds
2025
£
79,292
Total
funds
2024
£
66		 Total
funds
2025
£
79,292
Total
funds
2024
£
66

Unrestricted
Restricted



funds funds
2024
£		 2024
£
2,454 (2,38
8)

Page 24

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Investment income

Investment income
Investment income
Pension income
8.
Raising Funds		 Unrestricted
funds
2025
£
25,864		 Total
funds
2025
£

25,864

Unrestricted
funds
2024
£
6,354
19,000

Total
funds
2024
£

6,354

19,000
25,354
25,354

Fundraising Income
Fundraising Income
 Unrestricted
Funds
2025
£
1,328
Unrestricted
Funds
2024
£
706		 Unrestricted
Funds
2025
£
1,328		 Unrestricted
Funds
2025
£
1,328		 Restricted
Funds
2025
£
-		 Total
funds
2025
£
1,328

Restricted
Funds
2024
£
9,920
Total
funds
2024
£
10,626

Page 25

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Charitable activities		 Unrestricted
funds
2025
£
145,134		 Restricted
funds
2025
£
1,798,351		 Total
2025
£

1,943,486

Unrestricted
funds
2024
£
72,953
Restricted
funds
2024
£
2,084,478

As restated
Total
2024
£

2,157,431

Page 26

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Analysis of expenditure by activities

Charitable activities
Charitable activities
Analysis of direct costs
Pension finance costs
Staff costs
Other charitable activities costs		 Activities
undertaken
directly
2025
£
1,910,564		 Support
costs
2025
£
32,922		 Total
funds
2025
£

1,943,486

Activities
undertaken
directly
2024
£
2,066,058
Support
costs
2024
£
91,373

As restated
Total
funds
2024
£

2,157,431
Activities
undertaken
directly
2025
£
-
1,384,874
525,690		 Total
funds
2025
£

-

1,384,874

525,690
1,910,564
1,910,564

Page 27

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Other charitable activities costs
Analysis of support costs
Management and administration of charity
Management and administration of charity
Bad Debts		 Activities
undertaken
directly
2024
£
1,247,313
818,745		 As restated
Total
funds
2024
£

1,247,313

818,745
2,066,058
2,066,058

Charitable
activities
2025
£
32,922

Total
funds
2025
£

32,922
32,922
32,922

Charitable
activities
2024
£
88,288
3,085

Total
funds
2024
£

88,288

3,085
91,373
91,373

Page 28

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Auditors' remuneration

Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above		 2025
£
12,000
1,500		 2024
£

5,300

1,750

12. Trustee’s remuneration

During the year no Trustee received any remuneration or benefits (2024 £nil)

During the year, one trustee incurred expenses of £16.00 (2024£nil)

13. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
Operating costs of defined benefit pension schemes		 2025
£
1,211,589
109,129
46,156
18,000		 2024
£

1,128,062

96,788

22,463

19,000
1,384,874
1,266,313

The average number of persons employed by the Charity during the year was as follows:

Administration and management 2025
No.
50		 2024
No.

49

No Employee received remuneration amounting to more than £60,000 in either year.

Page 29

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

During the period, total costs of £nil were paid in relation to severance and redundancy costs (2024:1 individuals totalling £8,400). The amounts are full and final with no outstanding amounts due at the balance sheet date (2024: no amounts outstanding)

Key Management

The key management personnel of the charity comprise of the Director (1), Senior Managers (2), and Department Managers (5) . The total employee benefits (includes gross pay, employer pension and employer national insurance) of the key management personnel of the Charity were £347,942 (2024: £327,693).

Pension costs

The company operates a defined contribution and a defined benefit pension scheme. The charge to the Statement of Financial Activities for the year is shown above.

Contributions totalling £29,000 (2024 - £27,500) were payable to the schemes at the end of the year and are included in creditors .

Page 30

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions/(Disposals)
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Plant and
machinery
£
10,649
1		 Motor
vehicles
£

23,450

(4,783)		 Fixtures and
fittings
£

16,419

226
 Computer
equipment
£

32,680

1,186		 Total
£

83,198

(3,370)
10,650
18,667
16,645
33,866
79,828
10,140
-
14,953

4,240
16,321

-
24,174

3,354
65,588

7,594
10,140
19,193
16,321
27,528
73,182
510
(526)
324		 6,338
6,646
509

8,497

98
8,506


17,610

Page 31

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
16.
Creditors: Amounts falling due within one year
Trade creditors
Other Creditors
Other taxation and social security
Accruals and deferred income		 2025
£
350,021
-
42,583		 2024
£
473,050
7,579
15,902
392,604
496,531

2025
£
35,912
66,838
15,826
31,037

2024
£

32,442

65,152

23,055

20,481
149,613
141,130

Page 32

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Included within Other Creditors are amounts held on behalf of third parties, as follows:

Acting as Agent

Acting as Agent
Torbay Community Partnership
Food Alliance - Acting as bank
account
Churston CIO - Acting as bank
account
Brixham Bee Well (acting as bank
account)
Broadsands, Churston and Galmpton
Neighbourhood Forum
Paignton Neighbourhood Forum
Phab - Acting as bank account
Preston Community Partnership -
Acting as bank account
Shiphay - Community Partnership
Paignton Harbour Day - Acting as
bank account		 As at 31st
March 24
Income
Expenditure Transfers
As at 31st
March 25
9,817
-
4,304
-
5,514
37,362
278,079
274,549
-
40,892
-
292
-
-
292
5,489
-
-
-
5,489
120
-
-
-
120
6,145
-
144
-
6,001
200
-
-
-
200
-
487
-
-
487
8,121
32
1,766
-
6,387
-
349
-
-
349
67,254
279,240
280,762
-
65,731

17. Prior year adjustments

The following prior year adjustments have been made to the financial statements to reclassify certain items:

1. Statement of Financial Activities (SOFA) Reclassifications:

Unrestricted Management Fee and Overhead Contribution for internal charges has been removed from Income and placed as a credit in expenditure to contra against the Restricted Funds expenditure.

Impact: Unrestricted Income decreased by £380,196 Unrestricted Expenditure decreased by £380,196

Overall impact on net surplus and funds balances:

Net zero effect on all balances

Page 33

(A Company Limited by Guarantee)

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Summary of funds

Restricted Funds Balances

Movement in Funds

Fund
Asylum Seekers
Community Builders
Community Funding Service
Environmental Projects
Healthy Ageing
Health and Wellbeing Voluntary
Sector Network
Helpline
Imagine This
Local Motion
Ourbus
Peoples Parkfield
Rippling Effects
General Funds
Total Funds		 As at 31st
March 24
Income
Expenditure
Transfers
2024.25
As at 31st
March 25
45,877
90,011
69,758
-
66,130
(167,431)
550,320
632,769
-
(249,880)
-
(6,535)
36,388
61,250
7,741
(23,656)
-
5,000
214
-
4,786
-
4,570
76,175
67,195
-
4,409
17,504
-
10,171
-
7,333
(23,702)
409,266
543,773
-
(110,804)
119,949
112,524
104,960
-
127,513
449,935
1,220,536
154,836
-
1,515,635
24,830
14,096
58,955
20,028
-
3,805
51,889
58,943
-
(3,249)
-
23,016
35,526
-
(12,510)
507,066
2,589,221
1,798,351
27,769
1,325,706
164,782
135,174
147,462
-
(27,769)
124,725
671,848
2,724,395
1,945,813
-
**1,450,431 **

Page 34

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Summary of funds (continued)

Summary of funds

Torbay Asylum Seekers and Refugees

A programme that works with Asylum Seekers, Refugees and Ukrainian Guests living in Torbay, with employability, housing and wellbeing support.

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. The Community Builders had a deficit at the year-end due to the delay in the Torbay Council procurement process for this activity. The contract was won by the charity, but the delay in the procurement led to a delay in securing match funding. These funds have subsequently been secured.

Community Funding Service

This includes the Community Funding Advisor who supports other voluntary sector organisations to secure funds, plus the grant schemes administered on behalf of Torbay Council.

Environmental Projects

Delivery community led environmental action to protect our planet. This area of work also aligns with some strands of cultural development work.

Healthy Ageing

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.

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 charity is a steering group member and is currently holding Wellbeing Funds on behalf of the Network.

Helpline

The Community Helpline is hosted by the charity on behalf of the Heath and Wellbeing Voluntary Sector Network. Initially set up during the pandemic, the Helpline has grown to provide on-going support our most vulnerable residents with food parcels, links to social supermarkets, support on hospital discharge, referrals for financial support, information and advice, mental health, domestic violence, housing, bereavement and isolation. The Helpline has developed into a Front Door to the voluntary and community sector locally. Since May 2021 it has also acted at the Front Door for new Adult Social Care enquiries through a partnership with Torbay Council. Funds received to continue the Community Helpline set up during the Pandemic and adapt to current needs. The Helpline had a deficit at the year-end due to the delay in the Torbay Council procurement

Page 35

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Summary of funds (continued)

process for the service. The contract was won by the charity, but the delay in the procurement led to a delay in securing match funding. These funds have subsequently been secured.

Imagine This

Imagine This is a partnership of over 50 voluntary sector organisations working with children, young people, and families in Torbay. The Partnership is currently managed by the charity.

Local Motion

The charity is the fiscal host for the Local Motion initiative in Torbay. Local Motion is building a social, economic and environmental justice movement, by communities, for communities across 6 sites in the UK. The network seeks to understand local strengths in the places where we live and work and aims to challenge typical power structures and hierarchies that become barriers to a community’s progress and hold us back.

Ourbus

A community transport scheme launched to replace two bus routes which were abandoned by commercial providers.

People’s Parkfield

Supporting an innovative community asset in Torbay to develop opportunities for VCSE partners to deliver more support services and opportunities for young people and the wider community to enjoy and benefit from. The funding for this project is received quarterly in arrears, it therefore carried a deficit into the following FY which cleared down in April 2025

Rippling Effects

Specific research project from the European Union's Arsinoe project, which uses a "Cascade Engine Model" developed by the University of Exeter to study the ripple effects and dynamic impacts of renewable energy sources on complex systems. This project ended in March 2025. The remaining funding was received upon production of final reporting in July 2025.

Page 36

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Current assets
Creditors due within one year
Defined Benefit Pension Liability
Total		 Unrestricted
funds
2025
£
4,606
130,302
(10,183)
 Restricted
funds
2025
£

2,040

1,463,097

(139,430)
1,325,707
Restricted
funds
2024
£

11,265

661,259

(165,458)

-
507,066		 Restricted
funds
2025
£

2,040

1,463,097

(139,430)
1,325,707
Restricted
funds
2024
£

11,265

661,259

(165,458)

-
507,066		 Total
funds
2025
£
6.646
1,593,398

(149,613)
1,450,431
Total
funds
2024
£
17,610
799,368
(141,130)
(4,000)
671,848
124,725 1,325,707

Unrestricted
funds
2024
£
6,345
138,109
24,328
(4,000)
Restricted
funds
2024
£

11,265

661,259

(165,458)

-
164,782 507,066

Page 37

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Pension commitments (continued)

20. Operating lease commitments

Other Leases - Equipment
Within one year
Between two and five years		 2025
Total
£
-
3,008
3,008		 2024
Total
£
-
3,840
3,840

21. Related party transactions

Transactions with related parties

Transactions during the year
During the year, the charitable company has received services from
What's Your Problem C.I.C, a Community Interest Company which
is connected to one of the trustees.
The charitable company has provided services to the above
company for a fee
During the year, one Trustee, Katie Chivers, received payment for
services provided to Local Motion		 2025
Value of
transactions
to Related
Parties
£
16,900.00
-
2,821.92
14,078.08
7,637.97
7,637.97		 2024
Value of
transactions
to Related
Parties
£
45,900.00
-
2,093.00
43,807.00
312.50
312.50

Page 38

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Pension commitments (continued)

22. Pension commitments

Two of the charity’s employees belong to a Local Government Pension Scheme (LGPS) managed by Devon County Council (“DCC”).

The pension costs are assessed in accordance with the advice of independent qualified actuaries. The latest actuarial valuation for the LGPS was 31 March 2022.

At the year-end there were outstanding contributions due to the scheme totalling £1,836 which are included within creditors.

The scheme is a funded defined benefit pension scheme, with assets held in separate Trusteeadministrated funds. The total contributions made for the year 31 March 2025 were £29,000 of which employer’s contributions totalled £23,000 and employees’ contributions totalled £6,000. The current employer contribution rates for future years are 24.1% (April 2023 to March 2026).

The LGPS obligation relates to employees of the charity who transferred as under the transfer agreements when the activities of the charity were transferred from DCC on 01/10/2014 The obligation in respect of employees who transferred represents their cumulative service both prior to the transfer and following it.

Summary of Net Pension Liability

Present Value of Defined Benefit
Obligations
Fair value of Scheme Assets
Impact of Asset Ceiling
(Deficit)/Surplus in the Scheme		 2025
£ '000
(332)
388
(56)
-		 2024
£ '000
352
348
-
(4)

Page 39

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Pension commitments (continued)

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

Discount rate
Future salary increases
Future pension increases
Inflation assumption
Life Expectancy from age 65 (in 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		 At 31 March
2025
%
5.85
3.9
2.9
3.2		 At 31 March
2024
%

4.9

3.9

2.9

3.2
At 31 March
2025
Years
21.4
22.7
22.7
24.1		 At 31 March
2024
Years

21.5

22.8

22.7

24.1

Page 40

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Pension commitments (continued)

The Charity's share of the assets in the scheme was:

Equities
Corporate bonds
Property
Cash and other liquid assets
Other
Overseas equities
Total fair value of assets
The actual return on scheme assets was £-6,000_(2024 £20,000)_.		 At 31 March
2025
£
9,000
92,000
32,000
10,000
49,000
196,000		 At 31 March
2024
£

5,000

79,000

27,000

8,000

43,000

186,000
388,000
348,000

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Interest income
Interest cost
Total amount recognised in the Statement of Financial Activities		 2025
£
19,000
(18,000)
17,000		 2024
£

19,000

(14,000)

15,000
18,000
20,000

Page 41

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Pension commitments (continued)

Movements in the Present Value of the defined benefit obligation were as follows:

Opening defined benefit obligation
Current Service Cost
Interest Cost
Contributions by scheme participants
Change in assumptions
Closing defined benefit obligation		 2025
£
352,000
19,000
17,000
6,000
(62,000)
332,000		 2024
£
318,000
19,000
15,000
6,000
(6,000)
352,000

Movements in fair value of the charity's share of the scheme assets were as follows:

Opening fair value of scheme assets
Interest on assets
Return on assets less interest
Contributions by employer
Contributions by participants
Closing Fair Value of scheme assets		 2025
£
348,000
18,000
(7,000)
23,000
6,000
388,000		 2024
£
286,000
34,000
-
22,000
6,000
348,000

Page 42

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

23. Cash generated from operating activities

Net income for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Defined benefit pension net charges
Cash generated from operating activities		 2025
Total
£
779,583
12,377
(25,864)
103,927
8,483
(5,000)
873,506		 2024
Total
£
(294,493)
10,625
(6,354)
(416,014)
45,397
(22,000)
(682,839)

24. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

Page 43

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Prior Year Restricted Funds Movement in
Balances Funds
At 31 At 31
Fund March Income Exp Transfers March
2023 2023.24 2024
Advice & Mediation 17,327 - 17,327
-		 -
Asylum Seekers 34,572 91,550 87,322
7,077		 45,877
Building Better Opportunities 5,012 24,374 29,386
-		 -
Bushcraft Skills 22 - -
(22)		 -
CAF Grant 50 - 50
-		 -
Community First 751 - -
(751)		 -
Community Builders (88,609) 313,699 571,464
178,943		 (167,431)
Community Centres 509 - 509
-		 -
Community Funding Service 24,916 44,120 67,100
(8,470)		 (6,535)
Community Investment Fund 454 - -
(454)		 -
Evening Strollers 13 - -
(13)		 -
Gardens & Greens (Heles Angels) 122 - -
(122)		 -
Health and Wellbeing Voluntary
Sector Network 19,961 - 2,457
-		 17,504
Helpline 244,352 481,315 593,388
(108,577)		 23,703
Jamtastic 316 - -
(316)		 -
Local Motion 252,736 400,000 326,085
113,362		 440,012
Mental Health & Engagement
Project - TWEP (410) - -
410		 -
Mental Health Precept -
(5,553)		 - -
5,553		 -

Page 44

TORBAY COMMUNITY DEVELOPMENT TRUST LTD Trading as Torbay Communities

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Art Recovery
Healthy Ageing
Sendiass
Sober Companion
Steps Forward
Suicide Prevention
Winter Discharge
Peoples Parkfield
Community Knowledge Fund -
Young Fund
Cost of Living - One Devon
Good Practice Mentors
Imagine This
Older Citizens Forum
Torbay Community Partnership
Torbay Soup
Traders Register Project
Trading Arm
Ourbus
Shiphay - Community Partnership -
Acting as Bank Account
Broadsands, Churston and
Galmpton Neighbourhood Forum -
Acting as Bank Account		 682
- -
(682)
-
20,967
28,565
54,102
-
(4,570)
(35,687)
90,915
55,085
(2,321)
(2,177)
27
- -
(27)
-
8,496
-
496
(8,000)
-
7,000
-
7,000
-
-
(11,000)
- -
11,000
-
39,827
36,023
-
3,805
7,000
2,408
8,228
(1,180)
-
11,720
-
11,720
-
-
(46)
- -
46
-
69,741
136,081
79,251
(4,803)
121,768
6,396
- -
(6,396)
-
12,348
-
1,531
(1,000)
9,817
368
-
368
-
-
1,299
-
1,299
-
-
-
51,436
51,436
462
462
21,032
118,898
92,772
(22,328)
24,830
3,500
(3,500)
-
-
6,000
(6,000)
-
-
635,665
1,813,689
2,094,398
152,110
507,066

Page 45