Company registration number.. 08409289 Charity registration number.. 1162412 Honiton Community Complex TIA The Beehive IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025 WESTCOTTS CWAR TEREO A¢COUt4TANT$ 1 8V$IMÈ$S ADVISE
Honiton Community Complex TIA The Beehive Contents Reference and Administrative Details 1102 Trustees, Report 31013 Independent Examinerfs Report 14 Slalemenl of Financial Activities 15 Balance Sheet 161017 Notes to the Financial Statements 181032
Honiton Community Complex TIA The Beehive Reference and Adminlstrative Details Chaimian K Wilson Trustees.. K Wilson J Brown (resigned 21 May 20241 S Boyd R Sexton {resigned 22 January 20251 C Dougherty Iresigned 31 May 20251 C Nissen (resigned 19 November 20241 V Johnson (resigned 4 June 20241 S Sexton Iresigned 12 May 20251 S Kolek (appointed 25 November 20241 D Wood {appoinled 29 April 20251 D Hall lappoinled 29 April 20251 K Westrnatt lappoinled 29 April 2025 and resigned 28 May 20251 J Wardle lappoinled 15 July 2025} Senlormanagemgnti Leadership Tgam S Bonetta, Manager C Retler, Deputy manager R Larsson-carter, Marketing manager V Davis. Programme and events manager Charity Registration Number 1162412 Company Rogistration Number 08409289 The chafily is ineorporaled in England and Wale5. The company also trades under the name The Beehive. Page 1
Honiton Community Complex TIA The Beehive Reference and Administrative Details Roglst•rod Office The Beehive Dowell Street Honilon Devon EX14 1LQ Independent Examiner Weslcotts ISWI LLP Independent examiner Queens House 4244 New Street Honilon Devon EX14 18J SolicitoTr: Michelmores Woodwater House Pynes Hill Exeter Devon EX2 5WR Bankors Lloyds Honilon 82 High Street Honito Devon EX14 1JJ Page 2
Honiton Community Complex TIA The Beehive Trustees, Report The Trustees (who 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 2025. The Trustees conlim that the annual report and linancial sl?temenls of the Charity comply with the cijrrenl slalulory requirements, the requirements of the Charity's governing document and the provisions of the Slalement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. Since the Company qualifies as small under section 382 of the Companie$ Act 20C6, the Slralegi report required of medium and large companies under the Companies Act 2006 (strategic Report and Directors, Report) Regulations 2013 has been omitted. The Company also trades under the name The Beehive. Objectives and activiti8$ a. Policies and objectives In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, as well as lo the Charity's charitable obiecls, as approved by Honilon Town Council and sel forth In its Articles of Association. The Beehive exists lo promote arts, culture, and community engagement in Honiton and the surrounding area. Our charitable objectives include.. lo advan the education of the public in Honilon and Ea$1 Devon, in particular Ibul wilhoul limilalionl in the arts., to further or benefit the residents of Honilon and East Devon. without dislinclion of age, sex. sexual orientation. race or of political, religious or other opinions by associating together the said residents and the local aulhorilies, voluntary and other organisalions operating in those areas in a common effort lo provide fa¢ilities in the interests of social welfare for recreation and leisure lime occupation th the objective of improving the conditions of life for the residents,. and lo advance, for 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 time lo lime determine.. in particular (but without limilalionl by the eslablishmenl, rnainlenance and management of a community centre for charitable activities promoled by the Charity. Page 3
Honiton Community Complex TIA The Beehive Trustees, Report b. Aclivits"es undertaken to achieve objectives In order lo 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 direeled lo ils charitable objects consist principally of the follwng.. Artistic and cultural activib'es in¢luding Ihealre, live musical perfomances of all kinds. cinema, dances. craft fairs and exhibitions of local works of art. Room hires lo local community groups and organisations, including various public sector organisations, for the purposes of education, training, leisu activities and communal worship. The Beehive Cafe together with 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 wholly-owned subsidiary of the Charity, Beehive Hospitality Limited I'BHL.: see below.) Honilon Town Council's offices are bwlhin the Beehive building and ils presence sils well wth the social and community aspects of the Charity's objectives. Upkeep of the building, which is key to the Charity s charitable a¢tivilies. c. Volunteers The Board aCknedgeS with gratitude the continued enthusiasm, hard work and commitment of the volunteers from the community who help to staff the Beehive. The hours worked by our volunteers SignifintlY reduce what would be a huge wage bill wlhoul them. Page 4
Honiton Community Complex TIA The Beehive Trustees, Report Publlc benefit The Iruslees confim that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Page 5
Honiton Community Complex TIA The Beehive Trustees, Report Achievèments and performance Oespile ongoing financial pressures due lo the cosl-of-living crisis The Beehive has made significant strides this year.. Programming and events.. This year has seen continued growth in both participation and impact.. Over 12.000 visitors allended events, workshops. and community activities We hosted 85 live performances, including theatre, music, comedy. and spoken word Our cinema programme screened 110 films, with increased accessibility options The Beehive supported 35 local groups with subsidised venue hire lo provide exercise and well-being classes for the community. A new sensory garden was Completed and enhanced the outdoor space for all users. This was created with thanks lo the family of a former volunteer. Volunteer hours exceeded 3,000, reflecting strong community involvement We are proud lo have maintained a vibrant and inclusive programme despite economic pressures. Feedback from users continues lo highlight the value of The Beehive as a safe, creative. and welcoming space. The Beehive continues lo be a cherished space for creativity. connection, and celebration. Throughout the year, we've ieceived countless messages of appreciation from visitors, performer& and volunteers. These voices reflect the dedication of our volunteers, who bring warmth, energy, and generosity to every corner of the building. The Iruslees are indebted lo the staff and volunteers for their continuing hard work and dedication lo make The Beehive an asset that the town should be proud of. Community engagement.. Volunteer numbers increased by 15%, with new fronl-of-house, technical, and hospitality roles. Our fronl-of-house volunteers welcomed guests and provided information lo ensure visitors had a positive experience. Technieal team members supported live evenls wlh sound and lighting, and hospitality staff ensured smooth operations during functions. Volunteering al The Beehive is more than lending a hand - it's about finding connection. purpose, and Community. For many, il offers a vital sense of belonging, especially for those who may be on their own or seeking meaningful social inleraclion. We participated in Amied Forces Day and the annual Charter Day, where we hosted a stand that provided information about the Beehive and its scheduled events. The information was generally well received by visitors. The café continues to offer a friendly space for Cfafls, games, and refreshments. regularly organising craft workshops, board game afternoons, and seasonal events lo encourage community Participation and connection. One of the most cherished regular activities al The Beehive is our Weekly Craft Group, which meets every Thursday morning in Ihe café area. Open to all ages and abilities. the group offers a relaxed, welcoming space for creativity, convetsalion, and connection. This year, the group has grown steadily, with over 25 regular participants and a rotating mix of newcomers. Projects have ranged fr(yn card-making and knitting to seasonal decorations 8nd collaborative art pieces. The group expanded lo include a monthly Monday evening for those who cannot allend the group during the daytime. Page 6
Honiton Community Complex TIA The Beehive Trustees, Report Achievements and perfomiancg Icontlnuedl Strategic planning". Trustees undertook a comprehensive strategie review, resulting in quarterly updates lo the business plan lo guide us through lo the end of our lease in September 2025. This included ¢onsullalion with staff, volunteers and the wder public. These updates were reported lo HTC via the regular VIeW meetings. The board of tru51ees prepared the lender documentation over several months lo meet the landlord's requirements for secunng a new long-lerm lease. This documentation was submilled lo HTC in November 2024. Page 7
Honiton Community Complex TIA The Beehive Trustees. Report Financial review . Going concern These accounts are prepad on a going concern basis. The Charity's reserves have followed the slated policy, and as of this Report's signature. the Trustees are confident that with financial support from the Town Council, the Charity tan continue opèrating for the foreseeable future. Honilon Town Council agreed lo underwrite HCC'S losses up 10 £5,000 per month, easing HCC'S financial strain. HTC reviewed the accounts monthly to determine the underwriting amount. The Trustees acknowledge and thank the Town Council for its, valuable support. b. Reserves policy The Charity's reserves policy ensures net assets cover required liquidity and allow lor orderly winding4Jown rf needed, such as at lease lerminalion in September 2025. Trustees regularly review nel assets againsl these criteria and confirmed compliance Ihroughout the year. c. Financial performan We would add the following notes on certain Sspeels". The Compromise Agreement of 12 November 2019 and the Deed of Variation on 30 March 2021 replaced the Service Charge based Dn the cost lo the Charity of running the Beehive building with a fixed New Service Charge of £10.000 p. a, wlh effect from 1 April 2020. During the year of account. the Charity received an amount of £11.OOOpa from the Town Council in quarterly inslalmenls by way of the Se*vice Charge. No Donations were made lo other charities during thè year of aceount owing lo financial constraints, although several local community groups enjoyed reduced room hire rates. The general public conlinued lo support the Beehive with minor casual donations. In particular, when an event is cancelled due lo eircumslances beyond our control a proportion of the ticket holders usually refuse a refund and ask us to keep their money as a donation. . As in previous years 100% of the takings ol Beehive Hospitality Limited were donated to the Chanly. Reserves and working capital are kept under review continually by the Trustees, who have read-only access online lo the Charity's accounting records and bank account. Monthly profit and loss accoijnls and balanee sheets are seen by Trustèes after the end of each month, and before each meeting Trustees receive a report wlh key data including bank balances, cdItOrs, tickets sold in advance and event financial performance. The Trustees updated the Business Plan every quarter lo address the timeframe from the current period through the conclLJsion of the 10-year lease in Seplember 2025, supporting the Charity's application lo continue managing the Beehive after that dale. Additionally, a new Business Plan was created for the five-year period covering the new long-lemi lease from 2025 10 2030. 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 to mitigate risks. Page 8
Honiton Community Complex TIA The Beehive Trustees, Report Financial review Icontlnued} The charity continues lo operate in a challenging linancial climate Rising operational costs and reduced public funding have impacted our income. The Slalemenl of Financial Activities show incoming resources for the year of a revenue nature ol £437,309 12024 £424,278) and outgoing resources of a revenue nature of £450.628 12024 £431,308), making a net deficit of £13,31912024 - £7,030 deficill. The lolal free unrestricted reseNe$ al the year end stand al £23.15812024 - £42,0561. d. Principal risks and UnrtaIntieS Trustees regularly review operational and strategic risks, including financial suslainabilily, health and safely, safeguarding, and data protection. Miligalion measures are in place, and policies are reviewed annually lo ensure compliance and resilience. The systems and procedures lo manage major risks are Cover by the Directors by way of.. . Trustees, meetings Ongoing reference to the existing Business plan and work on the draft new plan Organisalional risk assessments Financial monitoring Ongoing review of health and safely issues Trustees maintain a risk register and regularfy review key risks. This year's priorities included.. Financial sustainability diversified income streams, fundraising slialegy, cost Controls Lease expiry Sept 2025 early engagement with Honilon Town Council. premises planning. Uncertainty affecting future b¢)okings after Sept 2025 and future planning. Volunteer retention enhanced recognition, flexible roles. Relain enthusiasm as end of lease approaches. Staff wellbeing - cleai probation processes, performance support. leam-building initiatives. Page 9
Honiton Community Complex TIA The Beehive Trustees, Report Plans for future perlods We are pleased lo announce a significant development for our organisation.. after an extended peri¢)d of negotiation and effort, we have successfully secured a 30-year lease al The Beehive. This achievement represents an extraordinary milestone, offering our organisalion the long-term stability required to plan confidently for the future and pursue new opportunities for growth and innovation. Our sincere grètitude goes lo Honiton Town Council for their ongoing financial support, which 1$ a crucial element of the lease agreement. Their backing ensures that we are able lo continue functioning as a vibrant centre for the arts, eommunity enga9emenl. and social connection. With the assurance provided by this agreement. we are well-posilioned lo invest further in our facilities. our team, and the quality and variety of programming we offer. Securing this lease represents a signifieanl slep forward for our community, and we would like lo express our heartfelt thanks lo everyone whose efforts have contributed to this positive outcome. Looking ahead, this new lease empowers us lo move forward with our future plans, including the followng priorities.. Seeuring funding for essential equipment.. We aim lo obtain grants and donations lo purchase a new, modern projector along wlh other technical equipment. Upgrading this technology wll provide direct benefits lo the public, reducing the likelihood of event cancellations and ensuring enhanced quality and clarity in our presentations. Staff development and engagement.. We are committed lo delivering annual, invigorating, and inelusive staff development days. These events are designed lo foster creativity. strengthen nneclions within our team, and support ongoing professional growth. Operational planning for events and programming.. We will continue lo manage the logistics of upcoming events and seasonal programming, ensuring all aelivilies a well-organised and delivered lo a high standard Slrenglhening governance and succession planning.. We are focused on reinforcing board 90vernance structures and developing robust succession plans lor trustees to secure the organisalion's future leadership. • Trustee recruilmenl.. Efforts will be made to recruit Iruslees to address all govemance requirements, ensuring that the board Temains eff&tive and represenlalive. Volunteer ¢rUitment and support.. Vve plan lo recruit additional volunteers lo guarantee comprehensive event coverasE and a balanced distribution of SponSibl51t1e$, supporting the smooth running of all activities. Page 10
Honiton Community Complex TIA The Beehive Trustees. Report Structure. governance and management a. Constitution The Charity is registered al Companies House as a company limited by guarantee under number 08409289 and is consliluled under a Memorandum of Association dated 19 February 2013 with Articles of Association adopted on 31 March 2015. 11 is also regislerod with the Charity Commission as a Chanly under number 1162412. The Charity's objects {'Objects'} are specifically reslricled lo the following.. To advance the education of the public in Honilon and East Devon, in particular (but wilhoul limilalionl in the arts., To further or benefit the residents of Honilon and East Devon, wlhoul distinction of age, sex, sexual orienlalion, race or of political, religious or other opinions by associating together the said residents and the local aulhorilies, voluntary and other organisations operating in those areas in a common effort lo provide facilitie5 in the interests of social welfare for recreation and leisure lime occupation with the objective of improving the conditions of lrfe for the residents,. and To advance, for the benefit of the public in Honiton and East Devon, such other purposes as are exclusively charitable under the law of England and Wales as the Directors may from time to lime determine., In particular Ibul without limitation) by the establishment, rnaintenan and management of a community centre for charitable activities promoted by the Charity slruclure, governance and management Iconlinuedl. b. Methods of appointment or election of Trustees New Trustees may be nominated by the Charity Members or the existing Trustees. Nominees and appointees are subject lo meeting the qualification criteria as defined by the Articles of Association as well as the Board of TrLtstees' approval, and they are invited lo allend Board Meetings for a trial period, after whieh both parties confirm or olherwse their desire lo pursue the appointment. The Articles of Association Iimil the numbers and voting power of local aulhority-influenced Iruslees and the voting power of local authorities or companies controlled by them, to avoid the Charity becoming Local Authority Influenced or controlled. Following the resignation of three of our trustees appointed a new trustee, Mr. Stephen Kolek whose contribution has been invaluable. c. Members Individuals who support 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 Beehive. Page 11
Honiton Community Complex TIA The Beehlve Truste8s' Report Structure. governance and managomgnt Icontinuedl d. Environmental and sustainability efforts This year, The Beehive hss taken steps lo reduce ils environmental impact, including.. Expanding recycling facilities for staff and visitors. Sourcing local supplieis and eco-friendly materials for events and refreshments. We are committed lo becoming a greener venue and will continue lo explore sustainable practices. Page 12
Honiton Community Complex TIA The Beehive Trustees. Report Statement of trustee8' responslbllltie8 The Iruslees Iwho are also the directors of Honilon Community Complex TIA The Beehnie for the purposes of company lawl sre 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 Praclicel, ineluding FRS 1ff2 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Iruslees to prepare financi81 slalements for each financial year. Under company law the Iruslees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and application of resources, including Ils income and expenditure, of the Charitable company for that period. In preparing these financial slalemenls, the trustees are required lo.. select suitable accounting policies and apply them consislenlly.. observe the methods and principles in the Charities SORP, make judgements and estimates that are reasonable and prudent-, slate whether applieable accounting standards, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial slalemenls,. and prepare the financial slalements on the going concern basis unless il is inappropriate lo presun7e that the charitable company will continue in business. The Iruslees are responsible for keeping proper accounting records that can disclose with reasonable accuracy al any lime the financial position of the charitable company and enable them to ensure that the financial slalemenls comply wlh the Companies Act 2006. They are also responsible for safeguarding 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of finaneial statements may differ from legislation in other jurisdictions. The annual report wa$ approved by the trustees of the charity on Ld...Iz&iC behalf by.. and signed on ils K Wilson Chairman and trustee Page13
Honiton Community Complex TIA The Beehive Independent Examiner's Report to the trustees of Honlton Community Complex TIA The Beehive ('the Company.) I report to the charity trustees on my examination ol Ihe accounts of the Company for the year ended 31 March 2025. Responslbilities 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 accordance with the requirements of the Companies Act 20L% I'lhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 20Ck3 Act and are eligible for independent examinstion, I report in respect of my examination of your charity's aecounls as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 1451Sllbl of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of Weslcolls ISW) LLP, which is one of the listed bodies. I have completed my examination. l eonfim that no matters have come to my attention in connection with the examination giving me cause to believe". 1. accounting records were not kept in respect of Honilon Community Complex TIA The Beehive as required by section 386 of the 2006 Act., or 2. the accounts do not accord with those records., or 3. the aecounls do not comply with the accounting requirements of section 396 of the 20LE Act other than any reqL¢irement that the accounts give a 'true and fair vie%V which is not a matter considered as part of an independent examination., or 4. the aceounls have not been prepared in aceordance with the methods and principles of the Statement of Recommended Pr8clice for a¢counling and reporting by charities 12pplicable lo charities preparing their aceounls in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come acFOSS no other matters in connection with the examinalKJn lo which attention should be drawn in thi5 report in Order lo enable a proper understanding of the accounts lo be reached. Mr N Smy ACA Independent examlner lliestcotts ISW) LLP Queens House 4244 New Street Honiton D8von EX14 1BJ Date:. 0g.liaiaS Page 14
Honiton Communlty Complex TIA The Beehlve Statement of Flnancial Activlties for the Year Ended 31 March 2025 Ilncluding Income and Expenditure Account and Statement ol Total Recognised Gains and Losses) Unrestricted fund8 Restri¢ted funds Total 202S Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income 71,237 349,183 8,009 508 4,500 75.737 349,183 11,881 508 112,257 308,349 3,192 480 3,872 Total income 428,937 8.372 437,309 424,278 Expenditure on: Charitable activities 447.835 2,793 450.628 431,308 Total expenditure Nel lexpenditurellincome 447,835 {2,793 450,628 431.308 18,898 5.579 13,319 7,030 Net movement in funds 118,8981 5,579 113,3191 17,0301 Reconciliation of funds Total funds brought forward Total funds carried forward 20 42,056 2,202 44,258 51,288 23,158 7,781 30,939 44.258 All of the charity's activities derive from eontinuing operations during the above two periods. The funds breakdown for 2024 is shown in note 20. The notes on pages 18 to 32 fomi an integral part of these financial statements. Page 15
Honiton Community Complex TIA The Beehive (Registratlon number: 08409289) Balance Sheet as at 31 March 2025 2025 2024 Note Flxed assets Tangible assets Investments 2,207 851 14 2,208 852 Current assets Stocks Debtors Cash al bank and in hand 15 16 17 192 29,123 120,776 150,091 1,341 38,582 92,765 132,688 Creditors: Amounts falling due within one yaar 18 178,7061 70,2821 Not Current assots 71,385 62,4(k8 Total a$$gts lass current liabilities 73.593 63.258 Provisions 19 42.654 19.000 Net assèts 30,939 44,258 Funds of the charlty.. Restricted income funds Restricted funds 7,781 2,202 Unrastricted income tunds Unreslricled funds 23,158 42,056 Total funds 20 30,939 44.258 For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under seclion 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 complyirKJ with the requirements of the Act ¥Mlh respect lo accounting records and the prepaialion of aceounts. These financial ststements have been prepared in accordance with the special provisions latIng lo companies subject lo the small companies regime vthlhin Part 15 of the Companies Act 2006. The notes on pages 18 10 32 fomi an integral part of these financial stalemenls. Page 16
Honiton Community Complex TIA The Beehive (Registration number." 08409289) Balance Sheet as at 31 March 2025 The fi cial sl lemenls on pages 15 10 32 were approved by the trustees, and aulhorised for issue and signed on their behalf by.. K Wilson Chalrman and tfustge The notes on pages 18 10 32 fomi an integral part of these financial slatemenls. Page 17
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity 8tatU8 The charity is limited by guarantee, incorporated in England and Wales and consequently does not have share capital. Each of the trustees 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 Offi is.. The Beehive Dowell Street Honilon Devon EX14 1LQ 2 Accountlng policlos Summary of Significant accountlng policies and key accounting estimate8 The principal accounting policies applied in the preparation ol these financial slalements are sel out below. These policies have been eonsistenlly applied lo all Ihe years presented, unless otherwise slated. Statement of compliance The financial slalemenls have been prepared In accordance with Accounting and Reporting by Charities. Slalemenl of Recommended Practice (applicable lo charities preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 lissued In October 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20LE. 8a818 of preparation Honilon Community Compkx TIA The Beehive meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olheNise stated in the relevant accounting poliey notes. Golng concgrn The Iruslees consider that there are no material uncertainties about the charity's ability to Continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from prgparing 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 slalemenl in these financial stalemenls. Income and endowments All income is recogniseLI once the charity has entillemenl lo the Ineome, il is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 18
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 Grants receivable Grants are included in the Slalement of financial activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the Balance sheet. Where income 15 received in advance of enlillemenl of receipt, ils recognition is deferred and included in creditors as deferred income. Where enlillement occurs before income is received, the income is accrued. Donated services and facilitles Where the donated good is a fixed a$sel, il is measured al fair value, unless il is impractical lo rneasU this reliably, in which case the cost of the item 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 ¢lass and depreciated over the useful economic life in a¢cordance with the Company's accounting 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 to pay lo obtsin services or facilits'es of equivalent economic benefit on the open market,. a Corresponding amount is then reeognised in expenditure in the period of receipt. Investment Income Interest on funds held on deposit is included whèn receivable and the amount can be measured reliably by the Company.. this is normally upon notification ol the interest paid or payable by the inslilulion with whom the funds are deposited. Expenditure Expendilure is recognised once there is a legal or conslruelive obligation lo transfer economic benefit lo 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. Expendilure is classified by activity. The costs of each activity are made up of the loial of direct costs and shared eosls, including support costs involved in undertaking each activity. Direct costs allribulable to a single aclwity are allocated directly lo that activity Shared costs which contribute lo more than one activity and support costs which are not attributsble lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff eosls are allocated on the basis of lime spent, and depociation charges allocated on the pgrtion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support eosls. All expenditure is inclusive of irrecoverable VAT. Charitable actlvlties Charitable expenditure comprises those c051s incurred by the charity in the delivery of its activities and services for ils benefieiaries. It includes both costs that can be allocated directly lo such aclivilios and lttose costs of an indirect nature necessary lo support them. Support costs Support costs inelude cenlial functions and have been allocated lo activity cost categorie$ on a basis consistent with the use of resources. for example, allocating property costs by floor areas, or per eapila, staff costs by the time spent and other costs by their usage. Page 19
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 Government grants Government grants relating lo tangible fixed assets are tated as deferd income and released to the Slalemenl of financial activities over the expeeled useful lives of the assets concerned. Other grants are credited lo the Slalement of financial activities as the related expenditure is incurred Taxation The charity Is ¢onsidered to pass the tests sel out in Paragraph 1 Sehedule 6 of the Finanee Ael 2010 and therefore it meets the definition of a charitable company lor UK corporation lax purFX)ses. Accordingly, the charity Is potentially exempl from laxalion in respect of income or capital gains received wlhin ealegorie5 covereLI by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to charitable purposes. Tangible fixed 48sets Individual fixed assets costing £500 or more are initially recorded al cost, less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. Tangible fixed assets are initially recognised al cost. After recognition. under the cost model, tangible fix8d assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciatlon and amortisation Depreciation is provided on tangible fixed assets so as lo write off the cost or valuation, less any eslimaled residual value, over their expe¢led useful economic lrfe as follows". Asset class Long-lemi leasehold propety Plant and machinery Computer equipment Digital equipment Depreciation method and rate Over the remaining life of the lease 4 years 3 years 4 years Fixed asset investments Fixed asset investments, other than programme related investments, are included al market value al the balance sheet dale. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value al the start of the yeaT, or their subsequent cost, and are charged or credited lo the Slalement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in martet values during the year and are credited or charged lo the Slalement of Financial Activities based on the market value at Ihe year end. Sto¢k Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolele and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Page 20
Honlton Communlty Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 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 conVertie lo a known amount of cash and are subject lo arb insignificant risk of change in value. Prov18iOllS 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 sellle 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 al the Iruslees discretion in furtherance of the objectives of the charity. Restricted funds ale funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against Ihe specific fund. The aim and use of each restricted fund is sel out in the notes lo the financial statements. Penslons and other post retirement obligation$ The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company lo the fund in respect of the year. Financial instruments Classificatlon Financial assets and finaneial liabilities are recognised when the charity becomes a paty lo the contractual provisions of the inslrumenl. Financial liabilities and equity instruments are classified according lo the substance of the conlraclual arrangements entered into. An equity inslrumenl is any conlfacl that evidences a residual interest in the assets of the charity after deducting all ol ils liabilities. Page21
Honiton Community Complex TIA The Beehlve Notes to the Financial Statements for the Year Ended 31 March 2025 Recognition and moasurement All financial assets and liabilities are initially measured al transaction price (including Iransaelion coslsl, except for those financial assets classified as al fair value through profrt or loss, which are initially measured al fair value Iwhich is normally the transaction price excluding transaction coslsl, unless the arrangement conslilules a financing Iransaclion. If an arrangement constilules a financing Iransaclion, the financial asset or financial liability is measured al the present value of the future payments diseounled al a market rale of interest for a similar debt instrument. Financial assets and liabilities a only offset in the slalemenl of financial position when, and only when there exists a legally enforable right lo sel off the recognised amounts and the charity intends either lo settle on a nel basis, or lo realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when al the contractual rights to the eash fl¢)WS from the financial asset expire or are settled, bl the eharily transfers lo another party subslanlially all of the risks and rewards of ownership of the financial asset, or cl the charity. despite having retaingd 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 or expires. Investments Investments In subsidiaries and associates are measured al cost less impairment. For investments in subsidiaries a¢quired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference lo the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. 3 Income from donatlons and lègacies Unrestricted funds General Restricted fund8 Totsl 2025 Total 2024 Donations and legacies., Donations Grants, including capital grants., Government grants 71,237 4,500 75,737 92,257 20.000 112,257 71,237 4,500 75,737 Page 22
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from charitable activitigs Unrestrictad funds General Totsl 2025 Total 2024 Temporary lellings & licensing of charitable property Cultural & communty events 122.896 226,287 349,183 122,896 226,287 104,389 203.960 349,183 308,349 5 Income from othortradlng activities Unrestricted funds General Restrictgd fund8 Total funds Total 2024 Events income., Other trading income 8,009 3,872 3,872 11,881 3,192 8,009 11.881 3.192 6 Investment income Unrestricted funds Gen8ral Total 2025 Total 2024 Interest receivable and similar income.. Interest feceivable on bank deposits 508 508 480 Page 23
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 7 Expenditure on charitable a¢VItIeS Charltable actlvlty gxpensg by fund Unrestricted funds Goneral Restricted funds Total 2025 Total 2024 Note Direct costs Allocated support costs 172,714 2.493 175,207 161,262 275,121 300 275,421 270,046 447,835 2,793 450,628 431,308 Charltable actlvlty expense by type Activity undertaken directly Activity support costs 2025 2024 Temporary lellings & licensing ol charitable property Cultural & communty events FLtndraising 76,571 197,829 1,021 275,421 76,571 373,036 1,021 450,628 75,001 355,308 999 175,207 175,207 431,308 Page 24
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 8 Analysls of support costs Analysis of direct costs Cultural & community events Total 202S Total 2024 Payments to artists Film costs Publicity Other 122,836 22,127 7,194 23,050 122,836 22,127 7,194 23,050 110,316 23,010 10,876 17,060 175,207 175,207 161,262 Analysis ofsupport ¢08ts Temporary lgtlings & Ilcensing Cultural & charitablg community propgrty events Total 2025 Total 2024 Fundralslng Staff Costs Postage & slalionery Licensing & subscriptions Equipment & maintenance Communications Premises costs IT & website support Professional fees Sundry Bank fees Training Depreciation Dilapidation provision 49,765 609 1,535 391 410 14,082 515 703 639 490 127,878 1.567 3,945 1,006 1,055 36,136 1,323 1,807 1,643 1,260 215 1,312 18,682 660 178,303 2,184 5,500 1,402 1,470 50,384 1,845 2.520 2,290 1,757 300 1,418 26,048 275,421 165,922 1.415 2,755 1,446 2,010 79,818 3,447 1,952 1,353 2,126 626 1,676 5,500 20 186 10 98 7,270 76.571 197,829 1.021 270,046 Page 25
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 9 Trustees remuneration and expenses No Iruslees, nor any persons conneclecs with 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 We as follows.. 2025 2024 Staff costs durlng the y•arw•re: Wages and salaries Social security eosls Pension eosts 170.742 4,836 2,725 158,935 4.851 2,136 178,303 165,922 The monthly average number of persons (including senior management I leadership leaml employed by the charity during the year was as follows.. 2025 No 2024 No Employees The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity In an independently administered fund. £37612024 - £3731 was payable lo the fund al the balance sheet dale and is included in creditors. No employee received emoluments of more than £60.000 during Ihe year. 11 Independent examinerfs remunaration 2025 2024 Other fees to examiners Examinalion-relaled assurance ServIS All other servi¢es 660 1,440 2,100 630 1,170 1,800 Page 26
Honiton Communlty Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 12 Taxatlon The charity is a registered charity and is therefore exempl from taxation. 13 Tangible flxed ass9ts Long-temi lea8ehold property Plant and machin9ry Computer equipment Dlgital equipment Total Cost Al 1 April 2024 Additions 3,992 45.950 4,404 20,9Cfj 2,774 75,252 2,774 Al 31 March 2025 3.992 45,950 4,404 23,680 78,026 Depreciation At 1 April 2024 Charge for the year 3,992 45.627 3.876 20,906 74,401 195 528 695 1,418 Al 31 March 2025 3,992 45,822 4,404 21.601 75,819 Net book value Al 31 March 2025 128 2,079 2,207 Al 31 March 2024 323 528 851 14 Fixed asset Inve8tments 2025 2024 Shas in group undertakings and participating interests Page 27
Honiton Community Complex TIA The Beehive Notes to the Financlal Statements for the Year Ended 31 March 2025 Shares in group undertakings and participating interest8 Subsidiary und¢rtakings Totsl Cost Al 1 April 2024 At 31 March 2025 Net book value Al 31 March 2025 At 31 March 2024 Detai18 of undertakings Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows.. Country of incorporation Proportlon of voting rights and Shares held 2025 2024 Prfnclpal actlvity Underiaking Holding Sub$idiary undertakings Beehive Hospitality Ltd England & Wales Ordinary 100% 100% Providing hospitality Subsidiaries The loss for the financial period of Beehive Hospitality Ltd was £2.150 12024 £6141 and the aggregate amount of capitsl and reserves at the end of the period was £7,97712024 - £10,1271. 15 Stock 2025 2024 Stocks 192 Page 28
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 18 Debtorn 2025 2024 Trade debtors Prepayments Other debtors 10,800 7,788 10.535 22,098 6,484 10,000 29,123 38,582 17 Cash and cash equival8nts 2025 2024 Cash at bank 120,776 92,765 18 Creditors: amounts falling due withln ono year 2025 2024 Trade creditors Other laxalion and social security Other creditors Accruals 15,090 2,428 28 61,182 78,706 6,101 2,375 5,894 55,912 70,282 19 Provision$ Lease provision Totsl Al 1 April 2024 Ulilised during the period Charged lo the statement of recognised gains and losses Al 31 March 2025 119,0001 2.394 26,048 119,0001 2,394 26.048 42,654 42,654 Page 29
Honiton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 20 Funds Balance at 31 March 2025 8alance at 1 Aprll 2024 Incoming resources Resources expended Unrestricted funds General General 42,056 428,937 1447,8351 23,158 Restrlcted funds Fundraising Galling legacy East Devon Music FeslNal 2,202 3,872 2,000 2,500 12,7931 3,281 2.000 2,500 2,202 8,372 12,7931 7,781 Totsl funds 44,258 437,309 450.628 30,939 Balance at 31 March 2024 Balance at 1 April 2023 Incoming resources Resources expended Unrestrlcted funds General General 51,288 400,066 1409,2981 42,056 Restrictod fund8 Lighting Fundraising 20,000 4,212 120,0001 12,0101 22,010 2,202 24,212 2,202 Totsl funds 51,288 424,278 431,308 44,258 21 Analysis of net assets between funds Page 30
Honiton Communlty Complex TIA The Beehive Notes to the Financlal Statements for the Year Ended 31 March 2025 Unrestricted funds General Total funds at 31 March 2025 Re8tricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions 2,207 2.207 142,310 I78,7) 42,6541 23,158 7,781 150,091 178,7061 142,6541 Tol81 nel assets 7,781 30,939 Unrestricted funds General Total funds at 31 March 2024 Restrlcted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions 851 851 13D,486 170.2821 119,0001 42,056 2,202 132,688 170,2821 119.000 Total nel assets 2.202 44,258 Page 31
Honlton Community Complex TIA The Beehive Notes to the Financial Statements for the Year Ended 31 March 2025 22 Related party transa¢tlons During the year the charity made the following related party transactions.. Included within other debtors is £522 owed lo the charity lo ils subsidiary 12024.. other creditors £4,444 owed by the charity from ils subsidiary), Beehive Hospitality Limited in respect of transactions wlh Beehive Hospitality Limited throughout Ihe year. The transactions can be summarised as follows.. £7,195 12024 £2,389) for sales made by Beehive Hospitality Limited to Honilon Community Complex. £10,00012024 - £10,000) quarterly recharge for cafe space and staff to Beehive Hospitality Limited by Honilon Community Complex. Donations of £11.00012024 - £28,500) were received from Beehive Hospitality Limited. Ouring the year HCC received £77,29612024 - £77,769) from Honilon Town Council. S Sexton is councillor for Honiton Town Council and a Iwslee of Honilon Community Complex. The transactions can be summarised as follows.. Grants.. Service charge £11,000 Underwriting £58,206 Services provided.. Room hire £6,590 Cleaning £1.500 Membership subscription." £12 Included in other debtors is £10,000 12024." £10.0001 owed to Honilon Community Complex frcffl Honiton Town Council. Page 32