Company registration number.. 08409289
Charity registration number.. 1162412
Honiton Community Complex TIA The Beehive
IA company limited by guaranleel
Annual Report and Financial Slalements
for the Year Ended 31 March 2024
WESTCOTTS
TERED A¢COUNtANrs
& QUSINESS ADVISERS

Honiton Community Complex TIA The Beehive
Contents
Referen￿ and Administrative Details
Trustees, Report
2108
Independent Examiner's Report
91010
Slalemenl of Financial Activities
11
Balance Sheet
121013
Notes lo the Financial Statements
14to27

Honiton Community Complex TIA The Beehive
Reference and Administrative Details
Chairman
K Wilson
Trustees
K Wilson
S Boyd
R Sexton
C Dougherty
C Nissen
S Sexton
Senior Managementi
Leadership Team
S Bonella. Manager
C Reller, Deputy manager
R Larsson-carter. Marketing manager
V Davis, Programme and events manager
Charity Registration Number
1162412
Company Registratlon Number 08409289
The charity is incorporated in England and Wales.
The company a150 trades under the name The Beehive.
Registered Office
The Beehive
Dowell Street
Honilon
Devon
EX14 1LQ
Independent Examiner
Weslcotts ISWI LLP
Independent examiner
Queens House
42-44 New Street
Honilon
Devon
EX14 1BJ
Solicitors:
Michelmores
Woodwaler Hou
Pynes Hill
Exeter
Devon
EX2 5WR
Bankors
Lloyds
Honilon
82 High Street
Honilon
Devon
EX14 1JJ
Page 1

Honiton Community Complex TIA The Beehive
Trustees, Report
The Trustees Iwho are also directors of the Charity for the purposes of the Companies Acts) present
their annual report together with the financial statements of Honilon Community Complex Ilhe Charity)
for the year ended 31 March 2024. The Trustees confirm that the annual report and financial
statements of the Charity comply wlh the current slalulory requirements, the requirements of the
Charity's governing document and the provisions of the Stalerllenl of Recommended Practi
ISORPI. applicable lo charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 leIf￿tiVe 1 January 20191.
Since the Company 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 omilled
The Company also trades under the name The Beehive.
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Honiton Community Complex TIA The Beehive
Trustees, Report
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustees have given due consideration to general
guidance published by the Charity Commission relating lo public benefit, as well as to the Charity's
charitable objects, as approved by Honilon Town Council and set forth in ils Articles of Association.
These refer to the advancement of education in the arts, lo asswialing local residents, authorities and
voluntary organisalions lo provide facilities in the interest of social welfare for recre3lion and leisure
time occupations, and the eslablishmenl, Maintenan￿ and management of a community cenlre.
b. Activities undertaken to achieve objectives
In order to achieve these objectives, Honilon Town Council and the Charity entered into a 10-year
lease of the community centre known as The Beehive and a Service Level Agreement, both
commencing on 11 September 2015 and expiring on 10 September 2025. Community organisalions
benefit from concessional room hire rates.
The activities of the Charity directed lo ils charitable objects consist principally of the followng".
1. Artistic and cultural activities including theatre, live musical F)erformances of all kinds, cinema,
dances, craft fairs and exhibitions of local works of art.
2. Room hire lo local community groups and organisalions, including various public sector
organisalions. for the purposes ol education, training, leisure activities and communal worship.
3. The Beehive Cafe together wth the bar provide a meeting point and social centre for members of
the public, both generally and for those taking part in the activities referred lo above. The cafélbar is
run by a tholly-owned subsidiary of the Charity, Beehive Hospitality Limited I'BHL": see below.)
4. Honiton Town Council's offices are wthin the Beehive building and its presence sils well with the
social and community aspects of the Charity's objectives.
5. Upkeep of the building, which is key lo the Charity's charitable activities.
c. Volunteers
The Board acknowledges wth gratitude the continued enthusiasm, hard work and commitment of the
volunteers from the community who help lo staff the Beehive. The hours worked by our volunteers
significanuy reduce ￿al would be a huge wage bill wthoul them.
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Honiton Community Complex TIA The Beehive
Trustees. Report
Public benefrt
The trustees confimi that they have complied Nvilh the requirements of section 17 of the Charities Act
2011 to have due regard lo the public benefit guidan￿ published by the Charity Commission for
England and Wales.
Achievements and perforn)ance
Followng the appointment of staff lo most of the managerial roles at the end of the previous financial
year the staff team began lo develop successful working relationships and went on the operate The
Beehive very successfully throughout this current financial year. The trustees would like lo thank all
the staff for their continuing hard work ￿lch has contributed immensely lo the success of The
Beehive.
Following the publication of the Business Plan for 2022 - 2025, the trustees review the Business Plan
monthly and a schedule of action points is updated accordingly.
The room hires have Increased by 230/0 during this year wlh more regular bookings being taken from
both private and public sector groups and organisalions. These Included bookings such as blood
doning, luilion for excluded children and pilales classes.
Aller the 'Covid years, It was good to see The Beehive relurnirrfJ to business as usual although
audience numbers still tended to fluctuate particulady for the cinema wlh the increased use of other
streaming facilities al home such as Netflix and Disney.
We are grateful for the continued sponsorship of the Nostalgia cinema events by Churchi15 Retirement
Living which enabled this valuable Servi￿ to continue and be enjoyed by the memory clinic and other
membersof the community.
As the Beehive café continued lo expand it became clear that more permanent staff were required lo
manage the day lo day running of café as well as overseeing the training and supervision of the
volunteers. A cafè manager was appointed in October 2023 followed by a café supervisor in
November 2023. The café has added to the welcoming atmosphere within The Beehive and provides
buffet lunches for groups who hire the meeting rooms.
The Café is also the venue for some new groups that were established such as the fortnighlly craft
group and the weekly group who meet lo play board games. It's also used as a more informal meeting
space for ad-hoc sma15er meetings.
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Honiton Community Complex TIA The Beehive
Trustees. Report
Financial review
Going concern
These accounts have been prepared on the going concern basis. Throughout the year of account, the
Charity's reseNes have conformed with the policy sel out below, and al the dale of signature of this
ReKK)rt the Tru51ees are confident that wlh the Town Council's financial support as described above
the Charity will be able lo continue lo operate for the foreseeable future.
Following a decision taken by Honiton Town Council lo continue to underwTite the losses of HCC up
lo a maximum level Df £5.000 per month, the financial pressures on Honilon Community Complex
IHCCI were subslanlially reduced. The managerial accounts were reviewed by HTC every month and
a decision taken on the amount ol underwriting lo be provided. The Trustees are greatly Indebted to
the Town Council for this contribution.
b. Reserves policy
The Charity's policy on reserves is lo maintain, in its monthly management accounts and its annual
accounts, nel assets sufficient lo accommodate the liquidity required by all businesses in amounts
varying from time lo lime, and also to provide for an orderly a￿1 solvent wnding-down of the business
should the necessity arise The laller is most likely to occur on tem)inalion of the lease of the building,
either by operation of the break clause or al the end of the len-year term in September 2025. The
Trustees monitor the nel assets of the Charity with these criteria in mind, and throughout the year ol
account were satisfied that they were mel.
c. Financial performance
We would add the follomring notes on certain aspects..
1. The Compromise Agreement of 12 November 2019 and the Deed of Variation on 30 March 2021
replaced the servi￿ Charge based on the cost lo the Charity of running the Beehive building with a
fixed New servi￿ Charge of £10,000 p. a, with effect from 1 April 2020. During the year of account,
the Charity received an increased amount of £11,OOOpa from the Town Council In quartedy
instalmenls by way of the New Service Charge.
2. No Donations were made lo other charities during the year of account owng to financial
Constra￿ntS. although several local comrnunity groups enjoyed reduced room hire rates.
3. The general public continued lo support the Beehive with minor casual donations. In particular
when an event is cancelled due lo circumstances beyond our control a proportion of the lickel holders
usually refuse a refund and ask us lo keep their money as a donation.
4. As in previous years 1000/0 of the takings of Beehive Hospitality Limited were donated to the
Charity.
5. Reserves and working capital are kept under review continually by the Trustees. who have
ad-only access online lo the Charity's accounting records and bank account. Monthly profil and loss
accounts and balance sheets are seen by Trustees after the end ol each month, and before each
meeting Trustees receive a report with key data including bank balances, creditors, lickels sold In
advance and event financial performan￿.
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Honiton Community Complex TIA The Beehive
Trustees, Report
6. A new Business Plan was prepared by the Trustees which covers the period from the present lo the
end of the 10-year lease in September 2025 and lay the foundation for the Charity's bid for the
contract lo continue to run the Beehive from then on.
7. The major risk lo which the Charity is exposed are identified by the Trustees and regularly updated
and reviewed during the year Where appropriate, insurance cover is effected lo mitigate risks.
8. The Slalemenl of Financial Aclivib'es show incoming resources for the year of a revenue nature of
£424,278 12023 £321,808) and outgoing resources of a revenLE nature of £431,308 12023
£333,103>, making a nel delicil of £7,03012023 £11,295 deficit). The total free unrestricted reserves
al the year end sland al £44,25812023- £51,288)
d. Principal risks and uncertainties
The system and procedures to manage major risks are covered by the Directors by way of..
1. Trustees meetings
2. Ongoing reference to the existing Business Plan and work on the new draft plan
3. Organisalional risk assessments
4. Financial monitoring
5. Ongoing review of health and safely issues
The principal risk and uncertainly this year is ltte underwTiling to be provid￿1 by HTC and if this wll
continue. Its impact on our profit and loss account sel out above. The approach of the end of our
10-year lease of the Beehive building also casts a shadow of uncertainly over our activities, making il
more difficult lo plan ahead and relain the enthusiasm of staff and volunteers. We are looking at
systems lo monitor or profitability and indicate ways lo increase our income and efficiency. Many
similar establishments in this country are in like straits.
Page 6

Honiton Community Complex TIA The Beehive
Trustees, Report
structure, 9overnance and management
a. Constitution
The Charity is registered al Companies House as a company limited by guarantee under number
08409289 and 15 conslituled under a Memorandum of Association dated 19 February 2013 Mrilh
Articles of Association adopted on 31 March 2015. 11 is also registered wlh the Charity Commission
as a Charity under number 1162412.
The Charity's objects I'objects'l are specifically restricted lo the following..
1. To advan￿ the education of the public in Honilon and East Devon, in particular Ibut wlhoul
limilali(Ml in the arts.,
2. To further or benefit the residents of Honiton and East Devon, without distinction of age, sex,
sexual orientation, race or of politi￿1, ieligious or other opinions by associating together the said
residents and the local authorities. voluntary ar)d other organisalions operating in those areas in a
common effort to provide facilities In the interests of social welfare for recreation and leisure lime
occupation with the objective of improving the conditions of life for the residents,. and
3. To advance, lor the benefit of the public in Honilon and East Devon, such other purposes as are
exclusively charitable under the law of England and Wales as the Directors may from lime lo time
delerrnine.,
in particular (but without limilationl by the establishment. Maintenan￿ and managernenl of a
community centre for charitable activities promoted by the Charily.Slruclure, governance and
management Iconlinuedl
b. Methods of appointment or election of Trustees
New Trustees may be nominated by the Charity Members, the existing Trustees or Honiton Town
Council Nominees and appointees are subject lo meeting the qualification criteria as defined by the
Articles of Association as well as the Board of Trustees, approval, and they are invited lo allend Board
Meetings for a trial period, after which both parties confimi or otherwise their desire lo pursue the
aptx)inlmenL The Articles of Association limit the numbers and voting power of local
aulhorily-inlluenced trustees and the voting wwer of local authorities or companies controlled by
them, to avoid the Charity becoming Local Authority influenced or controlled Currer)Ily, one HTC
Councillor, Cllr Serena Sexton has voting FX)wer
11 was wlh great dis8ppointment that Judith Stewart resigned as a Iruslee in October 2023 due to
retuming lo live in Scotland
c. Members
Individuals who SUPF)Ort the Beehive are encouraged lo become members of the Company. Their
liability is limited lo £12. and they are known as Charity Members. They pay a nominal subscription.
currently £12. Currently there are about 35, and many work as volunteers al the 8eehive.
Page 7

Honiton Community Complex TIA The Beehive
Trustees, Report
Statement of trustees. responsibilities
The trustees (who are also the directors of Honiton Community Complex TIA The Beehive for the
purposes of company lawl are responsible for preparing the Iruslees, report and the financial
statements in accordance with applicable law and United Kingdom Accounting Standards IUn11ed
Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting
Standard applicable in the UK 2nd Republic of Ireland
Company law requires the Iruslees to prepare financial statements for each financial year. Under
company law the Iruslees musl not approve the financial statements unless they are satisfied that
they give a true and fair view of the slate of affairs ot the charitable company and of the incoming
resources and application of resources, including ils income and expenditure, of the charitable
ompany for that period. In preparing these financial stalemenls, the trustees are required to..
select suitable accounting policies and apply them consistently.,
observe the melhcKls and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent..
stale whether applicable accounting standards, comprising FRS 102 have been followed, subject
lo any maleiial departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concern basis unless il is inappropriate lo presume
that the charitable company wll continue in business.
The Iruslees are responsible for keeping proper accounting records that can disclose wlh reasonable
accuracy al any lime the financial position of the charitable company and enable them lo ensure that
the financial statements comply wlh the Companies Act 2006 They are also responsible for
feguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The Iruslees are responsible for the maintenance and integrity of the corF)orale and financial
information included on the charitable company's website. Legislation governing the preparation and
dissemination ol financi81 statements may differ from I￿l￿atIon in other jurisdictions.
The annual report was approved by the Iruslees of the charity on .2Y. I..l.Y*. and
behalf by
signed on its
K Wilson
Chairman and trustee
Page 8

Honiton Community Complex TIA The Beehive
Independent Examiner's Report to the trustees of Honiton Community
Complex TIA The Beehive ('the Company,)
I report lo the charity trustees on my examination ol the accounts of the Company for the year ended
31 March 2024.
Responsibilities and basis of report
As the charity s Iruslees of the Company land also ils directors for the purposes of company lawl you
are responsible for the preparation of the accounts in accoidance with the requirements of the
Companies Act 20061'lhe 2006 Acl'l.
Having satisfied myself that the accounts of the Compar¢y are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l.
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent examiner's statement
Since the Company's gross Income ex￿eded £250,000 your examiner musl be a member of a body
listed in section 145 of the 2011 Act. I confimi that l am qualified lo undertake the examination
because l am a member of Westcotls ISWI LLP, which is one of the listed bodies.
I have Completed my examination I confimi that no mallers have come lo my attention in connection
with the examination giving me cause to believe".
1. accounting records were not kept in respect of Honiton Community Complex TIA The Beehive as
required by section 386 of the 2006 Act,. or
2. the accounts do not accord wlh those records,. or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'lnJe and fair view which is not a maller
considered as part of an independent examination., or
4. the accounts have not been prepared In accordance with the melhcKls and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities lapplicable lo
charities preparing Iheir accounts in accordance with the FinanciJ Reporting Standard
applicable in the UK and Republic of Ireland IFRS 10211.
I have no concerns and have come across no other mallers in connection wth the examination lo
which attention should be drawn in this report in order lo enable a proper understanding of the
accounts to be reached.
Page 9

Honiton Community Complex TIA The Beehive
Independent Examiner's Report to the trustees of Honiton Community
Complex TIA The Beehive {'the Company,)
Mr N Smy ACA
Independent examiner
Westcotts {SWl LLP
Queens House
4244 New Street
Honiton
Devon
EX14 1BJ
Page 10

Honiton Community Complex TIA The Beehive
Statement of Financial Activities for the Year Ended 31 March 2024
Ilncluding Income and Expenditure Account and Statement of Totsl
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Totsl
2023
Note
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
91,095
308,349
142
480
21,162
112,257
308,349
3,192
480
79.800
240.193
1.730
85
3,050
Totsl income
400,066
24,212
424,278
321,808
Expenditure on..
Charitable activities
409,298
22,010
431.308
333,103
Total expenditure
409,2981
22.010
431.308
333, 1031
Nel lexpenditurellincome
19,232
2,202
7,0301
11.295
Nel movement In funds
19.2321
2.202
(7,0301
111,2951
Reconciliation of funds
Total funds brought forward
Total funds carried forward 20
51,288
51,288
62,583
42,056
2,202
44,258
51,288
All of the charitls activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 20.
The notes on pages 14 10 27 fo)mi an integral part of these financial statements.
Page 11

Honiton Community Complex TIA The Beehive
{Registration number: 08409289)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
13
14
851
2,527
852
2,528
Current assets
Stocks
Debtors
Cash 31 bank and in hand
15
18
17
1,341
38,582
92,765
1,117
40,277
71,985
132,688
113,379
Credltors: Amounts falling due within one year
18
170,2821
151 119
Net current assets
62,406
62,260
Total assets less current liabilities
63.258
64,788
Provisions
19
119,000
44,258
113.500
51,288
Net assets
Funds ofthe charity:
Restricted income funds
Reslricled funds
2,202
Unrestricted income funds
Unreslricled funds
42,056
51.288
Totsl funds
20
44,258
51,288
For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under
section 477 of the Companies Act 2006 relating lo small companies.
Directors, responsibilities..
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476, and
The directors acknowledge their responsibilities for complying wlh the requirements of the Act wlh
respect lo accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating lo
Companies subject lo the small companies regime wlhin Part 15 of the Companies Act 2006.
The notes on pages 14 10 27 form an integral part of these financial slalements.
Page 12

Honiton Community Complex TIA The Beehive
(Registration number: 08409289)
Balance Sheet as at 31 March 2024
The financial statements on pages 11 10 27 were approved by the trustees, and aulhorised for issue
on .?.%lk¥..I"*￿d signed on their behalf by..
K Wilson
Chairman and trustee
The notes on pages 14 10 27 form an integral part of these financial slalemenls.
Page 13

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity Is limited by guarantee, incorporated in England and Wales, and consequently does not
have share capital. Each of the Iruslees is liable lo contribute an amount not exceeding £10 towards
the assets of the charity in the event of liquidation.
The address of ils registered office is.
The Beehive
Dowell Street
Honilon
Devon
EX14 1LQ
2 Accounting policies
Summary of significant accountin9 policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial sl8tements are sel out
below. These policies have been consistently applied to all the years presented, unless otherwise
staled.
Statement of compliance
The financial slalements have been prepared in accordance ￿th Accounting and Reporting by
Charities. Statement of Recommended Practice (applicable lo charities preparing their accounts in
accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
10211 lissued In October 20191 Icharilies SORP IFRS 10211. the Financial Reporting Standard
applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Basis of preparation
Honilon Community Complex TIA The Beehive meets the definition of a public benefit enlily under
FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless
otherwise staled in the relevant accounting policy notes.
Going concern
The Iruslees consider that there are no material uncertainties about the charity's ability lo continue as
a going con￿rrn nor any significant areas of uncertainly that affect the carrying value of assets held by
the charity,
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not
included a cash flow slalement in these financial slalemenls.
Income and endowments
All income is recognised once the charity has entillemenl to the income, il is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Page 14

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
Grants receivable
Grants are included in the Statement of financial activities on a receivable basis. The balance ol
income received for specific purposes bul not expended during the period is shown in the relevant
funds on the Balance sheet. Where income is receIv￿j in advance of entillemenl of receipt, ils
recognition is deferred and included in creditors as deferred income. Where entitlement occurs before
income is received, the income is accrued.
Donatedsernices and facilities
Where the donated good is a fixed asset, il is measured al fair value. unless it is Impractical lo
measufe this reliably, in which case the cost of the itern lo the donor should be used The gain is
recognised as income from donations and a corresponding amount is included in the appropriate fixed
asset class and depreciated over the useful economic life in accordance with the Company's
accoLJnling policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the
gift lo the Company which is the amount il would have been willing lo pay lo obtain seNices or
facilities of equivalent economic benefit on the open market., a corresponding amount is then
recognised in expenditure in the period of receipt.
Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Company., this is normally upon nolificalion ol the interest paid or payable by the
institution wlh whom the funds are deposited
Expenditure
Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit
to a third party, il 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 aclivily. Direct costs attributable to a single activity are allocated directly
lo that activity. Shared costs which contribute lo more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent
the use of resources. Central staff cos15 are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities 15 incurred on directly undertaking the activities ￿lch further the
Company's objectives, as well as any associated sUPPOrt costs.
All expenditure is inclusive of irrecoverable VAT.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for ils beneficiaries. 11 includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary lo support them.
Supportcosts
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources. for example, allocating property costs by floor areas, or per
capila, staff costs by the lime spent and other costs by their usage
Page 15

Honiton Community Complex TIA The Beehive
Notes to the Financtal Statements for the Year Ended 31 March 2024
Government grants
Government grants relating lo tangible fixed assets are treated as deferred Income and released lo
the Slalemenl of financial activities over the expected useful lives of the assets concerned. Other
grants are credited lo the Statement of financial activities as the related expenditure is incurred.
Taxation
The charity is considered lo pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore il meets the definition of a charitable company for UK corporation lax purposes.
Accordingly, the charity is potentially exempt from taxation in fespecl of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 01 the Taxation of Charge8ble Gains Act 1992. to the extent that such income or gains are
applied exclusively lo charitable purposes
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost. less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impaiment
losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be
included in the measurement of cost.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as lo write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows."
Asset class
Long-lerm leasehold property
Plant and machinery
Computer equipment
Digital equipment
Depreciation method and rate
Over the remaining life ol the lease
4 years
3 years
4 years
Fixed asset investments
Fixed asset inveslmenls. other than programme related investments, are included at market value al
the balance sheet dale. Realised gains and losses on investments are calculated as the difference
befften sales proceeds and their market value al the start of the year, or their subsequent cost, and
are charged or credited lo the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged lo the Statement of Financial Activities based on the market value al the year end.
Stock
Stocks are ValU￿j al the lower of cost and nel re8lisable value aller making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed
and VarIa￿e overheads.
Page 16

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible lo a known amount of cash and are subject lo an
insignificant risk of change in value.
Provisions
Provisions are recognised when the charity has an obligation al the reporting dale as a result of a past
event, il is probable that the charity will be required lo settle that obligation and a reliable estimate can
be made of the amount of the obligation.
Fund structure
Unreslricled income funds are general funds that are available for use at the Iruslees discretion in
furtherance of the objectives of the charity.
Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are char9ed against the specific fund. The aim and use of each restricted
fund 15 set out in the notes to the financial stalemenls.
Pensions and other post retirement obligations
The Company operates a defined contribution pension scheme and the pension charge represents
the amounts payable by the Comp8ny to the fund in respect of the year.
Financial instruments
Classification
Financial as￿1$ and financial liabilities are recognised when the charity becomes a party lo the
conlraclual provisions of the Inslrumenl.
Financial liabilities and equity instruments are classified according lo the substance of the conlraclual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Page 17

Honiton Community Complex TIA The Beehive
Notes to the Financial Ststements for the Year Ended 31 March 2024
Recognition and measurement
All financial assets and liabilities are initially measured al transaction price (including transaction
costs), except for those financial assets classified as al fair value through profil or loss, which are
initially measured al fair value (which is normally the transaction price excluding transaction coslsl,
unless the arrangement conslitules a financing Iransaclion. If an arrangement conslilules a financing
transaction, the financial asset or financial liability is measured al the present value of the future
payments discounted al a market rale of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right lo sel off the recognised amounts and the charity intends
either lo sellle on a nel basis, or lo realise the asset and settle the liability simultaneously.
Financial assets are derecognised then and only when al the contractual rights lo the cash flows
from the financial asset expire or are sellled, bl the charity transfers lo another party subslanlially all
of the risks and rewards of ownership of the financial asset, or cl the charity. despite having retained
some, bul not all, significant risks and rewards of ownership, has transferred control of the asset lo
another party
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled oi expires.
Investments
Investments in subsidiaries and associates are measured al cost less impairment. For investments in
subsidiaries acquired lor consideration including the issue ol shares qualifying for merger relief, cost
is measured by reference to the nominal value of the shares issued plus fair value of other
consideration. Any premium is ignored.
3 Income from donations and legacies
Unrestricted
funds
General
Restricted
funds
Totsl
2024
Total
2023
Donations and legacies",
Donations
Grants, including capital grants.,
Government grants
91,095
1,162
92,257
79.800
20,000
20,000
91,095
21.162
112,257
79,800
Page 18

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Income from charitable activities
Unrestricted
funds
General
Total
2024
Total
2023
Temporary lellings & licensing of ch8rilable
property
Cultural & community events
104,389
203,960
104,389
203.960
67,296
172,897
308,349
308,349
240.193
5 Income from other trading activities
Unrestricted
funds
General
Restricted
funds
Total
funds
Total
2023
Events income.,
Other trading income
142
3,050
3,192
1,730
142
3,050
3,192
1,730
6 Investment income
Unrestrieted
funds
General
Total
2024
Total
2023
Interest receivable and similar income",
Interest receivable on bank deposits
480
480
85
Page 19

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
7 Expenditure on charitable activities
Charitable activity expense by fund
Unrestricted
funds
General
Restricted
funds
Total
2024
Total
2023
Note
Direct costs
Allocat￿ support
costs
159,252
2,010
161,262
127,636
250,046
20,000
270,046
205,467
409,298
22.010
431,308
333,103
Charitable activity expense by type
Activity
undertaken
directly
Activity
support
costs
2024
2023
Temporary lellings & licensing of
charitable property
Cultural & community events
Fundraising
75,001
194,046
999
75,001
355,308
999
57,533
273,974
1,596
161,262
161,262
270,046
431,308
333,103
Page 20

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Analysis of 5UPPOrt costs
Analysis of direct costs
Cultural &
ommunity
events
Total
2024
Totsl
2023
Payments to artists
Film costs
Publicity
Other
110,316
23,010
10,876
17,060
110.316
23,010
10.876
17,060
87,286
15,213
6,295
18,842
161,262
161,262
127.636
Analysis of support Costs
Temporary
lettings &
licensing
of
Cultural &
charitable cornmunity
property
events
Total
2024
Total
2023
Fundraising
staff costs
Poslage & stationery
Licensing & 5ubscriplions
Equipment & maintenan
Communications
Premises costs
IT & website support
Professional fees
Sundry
Motor expenses
Donations
Bank fees
Training
Depreciation
Dilapidation provisic
46,309
395
769
404
561
22,278
118.999
1,015
1,976
1,037
1,442
57,245
2,472
1,400
971
614
165,922
1,415
2.755
1.446
2.010
79.818
3,447
1,952
1,353
109,994
1.077
2.881
17,051
1,612
49,307
4,205
14.081
1.382
50
850
294
942
1,741
10
295
13
545
377
593
175
98
1,535
75,001
1,525
449
1,570
3.945
2.126
626
1,676
5,500
20
194,046
999
270,046
205.487
Page 21

Honiton Community Complex TIA The Beehive
Notes to the Financial Ststements for the Year Ended 31 March 2024
9 Trustees remuneration and expenses
No Iruslees, nor any persons connected wlh them, have received any remuneration from the charity
during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the
year.
10 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Staff costs during the year were..
Wages and salaries
Social security costs
Pension costs
158,935
4,851
2,136
165.922
105,613
2,567
1.814
109.994
The monthly average number of persons (including senior management I leadership leaml employed
by the charity during the year was as follows".
2024
No
2023
No
Employees
The charitable company operates a defined conlfibution pension scheme. The assets of the ￿heme
are held separately from those of the charity in an independently administered fund.
£37312023 - £2541 was payable lo the fund at the balance sheet dale and is included in creditors.
No employee received emoluments of more than £60.000 during the year.
11 Independent examinees remuneration
2024
2023
Other fees to examiners
Examinalion-related assurance services
All other services
630
1,170
507
978
1,800
1.485
Page 22

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Taxation
The charity is a registered charity and is therefore exempt from laxalion.
13 Tan9ible fixed assets
Long-temi
leasehold
property
Plant and
machinery
Computer
equipment
Digital
equipment
Total
Cost
Al 1 April 2023
3,992
45,950
4,404
20.906
75,252
Al 31 March 2024
3,992
45.950
4,404
20,906
75.252
Depreciation
Al 1 April 2023
Chaige for the
year
3,992
45,431
3,349
19,953
72,725
196
527
953
1,676
Al 31 March 2024
3,992
45,627
3,876
20,906
74.401
Net book value
Al 31 March 2024
323
528
851
At 31 March 2023
519
1,055
953
2,527
14 Fixed asset investments
2024
2023
Shares in group undertakings and participating interests
Page 23

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
Shares In group undertakings and participating interests
Subsidiary
undertakings
Totsl
Cost
At 1 April 2023
Al 31 March 2024
Net book value
Al 31 March 2024
At 31 March 2023
Details of undertakings
Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of
share capital are as follows..
Country of
incorporation
Proportion of voting
rights and shares held
2024
2023
Prlncipal
activity
Undertaking
Holding
Subsidiary underiakings
Public
houses and
bars
Beehive Hospilalily Ltd England & Wales Ordinary
Subsidiaries
The loss for the financial period of Beehive Hospitality Ltd was £614 12023 £17,89711 and the
aggregate amount of ¢apital and reserves al the end of the period was £10.12712023 - £10,741).
15 Stock
2024
2023
Stocks
1,341
1,117
Page 24

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
16 Dgbtors
2024
2023
Trade debtors
Prepayments
Other debtors
22,098
6,484
10,000
25,588
5,226
9,463
38.582
40,277
17 Cash and cash equlvalents
2024
2023
Cash al bank
92,765
71.985
18 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other laxalion and social security
Other creditors
Accruals
6,101
2,375
5,894
55,912
11,470
2,321
775
36,553
70,282
51.119
19 Provlslons
Lease
provision
Total
Al 1 April 2023
Charged lo the statement of recognised gains and losses
Al 31 March 2024
113.5001
15,5001
119.000
113,5001
15,5001
19,000
Page 25

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
20 Funds
Balance at
31 March
2024
Balance at 1
April 2023
Incoming
resources
Resources
expended
Unrestricted funds
General
General
51,288
400,066
1409,2981
42,056
Restricted funds
Lighting
Fundraising
20,000
4.212
120,0001
2.0101
122.0101
2,202
24,212
2,202
Total funds
51,288
424,278
431,308
44,258
Balanee at
31 March
2023
Balance at 1
April 2022
Incoming
resources
Resources
expended
Unrestricted funds
General
General
62,583
320,958
1332,2531
51,288
Restricted funds
Fundraiser for Ukraine
850
850
Total funds
62,583
321,808
333.103
51,288
21 Analysis of net assets between funds
Unrestricted
funds
General
Total funds
at 31 March
2024
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Provisions
851
851
130,486
170,2821
19,000
2,202
132,688
170,2821
19,000
Total nel assets
42,056
2,202
44,258
Page 26

Honiton Community Complex TIA The Beehive
Notes to the Financial Statements for the Year Ended 31 March 2024
Unrestricted
funds
General
Total fund5
at 31 March
2023
Tangible fixed as*ls
Fixed asset investments
Current assets
Current liabilities
Provisions
2,527
2,527
113,379
151.1191
113,5001
51.288
113,379
151,1191
113,5001
Total net assets
51,288
22 Related party transactions
DLJring the year the charity made the followng related party Iransaclions..
Included within other creditors is £4,444 owed by the charity lo ils subsidiary 12023 other debtors is
£9,463 owed to the charity from ils subsidiary), Beehive Hospitality Limited in respect of transactions
with 8eehive H05pilalily Limited throughout the year.
The transactions can be summarised as follow5".
£2,389 12023 £7.9101 for sales rnade by Beehive Hospitality Limited to Honilon Community
Complex.
Donations of £28,50012023 - £26.0001 were received from Beehive Hospitality Limited.
During the year HCC received £77,769 12023 - 39,1211 frorn Honiton Town Council. S Sexton is a
councillor for Honilon Town Council and a trustee of Honilon Community Complex.
The Iran5aclions can be summarised as follows".
Grants..
Service charge £10,750
Underwriting £58,423
Services provided..
Room hire £7,474
Cleaning £1. 110
Membership subseriplion." £12
Included in other debtors is £10,000 12023.. £nill owed lo Honiton Community Complex from Honilon
Town Council.
Page 27