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2022-03-31-accounts

Page
Trustees'
Report
Independent
Auditors'		 Report 23
Statement of Financial Activities 27
Balance Sheet 28
Statement ofCash Flows 29
Notes to the Financial Statements 30

RESERVESAS AT 31 MARCH 2022 2021
Unrestricted
Funds - General		 K132,131 K473,262
Restricted
Funds		 K817,595 (K256)
Capital Replacement
Reserve		 K30,000 K70,000
Investment
in Chances		 K50,000 K50,000
Growth
&Development		 Reserve K75,000 NIL
General
Reserve (was		 Strategic K420,000 K245,894
Reserve)
TOTAL K1,524,726 K838,900
NET ASSETS 2022 2021
Tangible
Fixed Assets		 K18,670 K27,913
Cash and cash equivalents K969,911 K586,777
Other Net Current Assets K536,145 K224,210
TOTAL Kf,524,726 K838,900

FUNDS AS AT 31 MARCH 2022 2021
Unrestricted
Funds		 6707,131 2839,156
Restricted
Funds		 F817,595 (F256)
FUNDS BEFORE PENSION DEFICIT 61,524,726 6838,900
Pension Reserve (62,993,000) (F3,328,000)
TOTAL FUNDS (1,468,274) (62,489,100)

Notes Unrestricted Restricted Pension Fund Total Funds Total Funds
Fund Fund 2022 2021
8 K 5 6
Income
Donations
and legacies		 2 116,422 3,500 119,922 265,024
Income from Charitable Activities 3 1,909,397 1,532,874 3,442,271 2,389,627
Other trading
activities		 4 504,606 504,606 424,151
Investment
income		 5 340 340 272
Total income 2,530,765 1,536,375 4,067,139 3,079,074
Expenditure
Charitable
activities		 6 2,761,077 610,350 330,000 3,701,427 2,845,317
Other trading
activiTies		 7 9,886 9,886 1,969
Total expenditure 2,770,963 610,350 330,000 3,711,313 2,847,286
Net income/(expenditure) (240,198) 926,024 (330,000) 355,826 (231,788)
Transfers
between funds		 15/16 108,173 (108,173)
Other recognised
(losses)/gains:
Actuarial
(loss)/gain
on detined
benefit pension schemes		 19 665,000 665,000 (1,465,000)
Net movement
in funds		 (132,025) 817,851 335,000 1,020,826 (1,233,212)
Reconciliation
offunds:
Fund balances
brought		 forward 839,156 (256) (3,328,000) (2,489,100) (1,255,888)
Fund balances carried forward 15/16 707,131 817,595 (2,993,000) (1,468,274) (2,489,100)

Note 2022 2021'
Fixed Assets
tangible
fixed assets		 18,670 27,913
Current Assets
Debtors 1389080 922,513
Cash and cash equivalents 969,911I 586 777i
2,358 9911 1,509,290
Creditors
Amounts
faIling due within		 one year 13 (852,935) (698,303)
Net Current Assets 1,506,056 810,987
Net Assets before pension liability 1)524)726 838,900
Pensian
liability		 19 (2,993,000) (3,328,000)
Net Liabilities after pension liability (1,468,274)
Reserves
Unrestricted
funds		 15 707,1+3 839,156
U
Restricted funds 16 817,595 (256)
Pensron
Reserve		 (2,993,000) (3,328,000)
otal Funds (2,489,1OO)

Note 2022 2021
Cash flows from operating activities:
Net cash provided
by/(used		 in) operating activities 18 390,288 (165,697)
Cash flows from investing activities:
Sank interest received 340 272
Purchase
of property
plant and equipment		 (7,494) (23,154)
Net cash provided
by/(used		 in) investing activities (7,154) (22,882)
Change
in cash and cash		 equivalents in the reporting period 383,134 (188,579)
Cash and cash equivalents at the beginning ofthe reporting period 586,777 775,356
Cash and cash equivalents at the end of the reporting period 969,911 586,777

Unrestricted Restricted Total 2022 Total 2021
Funds Funds
f f
DC Core contract income 1,820,465 1,820,465 1,815,333
Membership
subscriptions		 7,686 7,666
Duke of Edinburgh 9,201 9,201 866
Project income 40,970 1,314,746 1,355,7'I6 144,530
Trip income 5,837 5,637 180
AYCH income 25,458 25,458 115,125
Turning
Corners		 122,760 122,760 12,489
UASC
National l.oltery Community
Support
Fund		 142,964
DCF Social prescribing 57,868 57,868 122,140
Safer Devon Partnership Income 37,500 37,500 36,000
Total 1,909,397 1,532,874 3,442,271 2,389,827
4. Income from other trading activities
Unrestricted Restricted Total 2022 Total 2021
Funds Funds
6 6 f f
Chances income 408,194 408,194 388,748
Educational
Services
(ESS)		 Support 35,949 35,949
Tuck shop income 9,725 9,725 316
Lettings
income		 41,912 41,912 24,864
Other trading
activities		 8,826 8,826 4,905
Duke of Edinburgh booklets 5,318
Total 504,606 504,606 424,151

nalysis ofexpenditure
on charitable
activitie		 s
2022f 2021f
AYCH expenditure 6,494 73,572
Hub expenses 16,104 11,241
Grant specific expenditure 15,977
Project specific expenditure 359,125 1D3,481
Small grant fund 77,426 117,929
Membership
subscriptions		 778 1,691
Support to VCS providers 69,335 32,052
Gas snd eleciricity 43,103 40,646
Water rates 8,527 6,734
Business rates 4,433 2,601
Rent 26,132 (434)
Building maintenance 43,927 19,562
Transport
and fuel		 35,228 13,3B2
Repairs and maintenance 47,864 37,638
Insurance 18,057 f4,216
Health and fire safety 22,597 1B,694
Printing,
postage and stationary		 10,635 7,412
Telephone
and broadband		 21,096 23,627
ICT equipment 19,513 53,955
Advertising
and recruitment		 11,813 11,160
Hospitality
and refreshments		 2,673 1,598
Cleaning 82,848 74,603
Pension
bond		 15,349 20,430
Miscellaneous
expenses		 10,499 1,720
Wages and salaries 1,960,432 1,623,616
Social security costs 146,424 122,611
Pension costs 524,760 326,901
Redundancy
payments
Staff development
and training		 30,782 29,964
Professional fees 23,525 13,261
Audit and Accountancy fees 11,300 5,750
Depreciation 16,736 10,549
Bank charges 1,055 624
Irrecoverable
VAT		 14,880 5,720
3,701,427 2,824,546

Staff Costs
2022 2021
8
Wages and salaries 1,980,432 1,623,616
Social security costs 148,424 122,511
Pension costs 524,760 326,901
2,633,616 2,073,128

Net Incoming Resour ces f or the Period
2022 2021
This is stated after charging: e
Depreciation 16,736 10,549
Auditors'
remuneration		 — Audit 6,850 4,750
Other services 4,450

Tangible Fixed Assets
Fixtures
and
Equipment Fittings Total
6 8
Cost
Brought forward 1 April 2021 53,014 116 53,130
Additions 7,494 7,494
At 31 March 2022 eo,soe 116 60624
Depreciation
Brought Forward 1 April 2021 25,096 121 25,217
Charge for year 16,737 16,737
At 31 March 2022 41 833 121 41 954
Net Book Value
At 1 April 2021 27,918 5 27,913
At 31 March 2022 16,675 s 18,670

Debtors
2022f 2021
E
Trade debtors 752,989 663,995
Other debtors 610,492 233,972
Prepayments 25,599 24,546
1,389,080 922,513

Creditors: Amounts Falling due within one year
2022 2021
E K
Trade creditors 107,064 35,097
Other creditors 933 24,974
Accruals ft deferred income 577,911 515,157
PAYE and
Nl creditor		 41,034 31,183
VAT creditor 125,993 91,892
852,935 698,303

as set o ut below:
Plant and
Machinery 2022 2021
8 8
Operating lease payments due:
In less than one year 1,865 1,865 2,224
Between one ahd five years 1,865
After five years
1,885 1,865 4,089

1 April Incoming Resources 31 March
2021 Resources Expended Transfer 2022
Unrestricted
funds -		 General 609,156 2,530,765 (2,770,963) 108,173 477,131
Capital Replacement 30,000 30,000
Investment
in Chances		 50,000 50,000
Strategic Reserves 150,000 150,00D
Total Unrestricted Funds 839,156 2,530,765 (2,770,963) 108,173 707,131

Un restricted
Fund		 s —Prior year com parative
1 Aprii Incoming Resources 31 INarch
2029 Resources Expended Transfer 2021
6
Unrestricted
funds		 —General 219,550 2,697,669 (2,374,711) 66,648 609,156
Capital Replacement 30,000 30,000
Investment
in Chances		 50,000 50,000
Strategic Reserves 150,000 15D,DDD
Total Unrestricted Funds 449,550 2,697,669 (2,374,711) 66,648 639,156

Prior year comparative
1 April Incoming Resources Transfer 31 March
2020 Resources Expended 2021
E
Turning
Corners		 1,250 (1,250)
Peer Educators 563 (563)
Newton
Abbot Centre Relaunch		 (6)
Devon Information
Advice		 and Support (3)
Community
Connectors		 56,527 (56,983) (436)
OP Marnow —summer policing 9,000 (6,091) (2,909)
Centre ofYouth Impact 5,000 (4,000) (1,000)
Active Youth 7,021 (5,968) (2,722) (1,669)
Teignmouth
Street Work —Teignbridge		 4,782 (2,230) (2,552)
National
Lottery Community		 Support Fund 140,788 (107,937) (32,831)
Community
Safety Partnership		 —North
Streetwork 3,000 (1,568) (1,432)
DCRR Fund —VCS Opening Youth Clubs 14,844 (17,936) 3,092
CSP Mid &East (Tiverton & Exmouth) 9,000 (5,796) (3,204)
Dartington —Prevention research
partnership 10,000 (10,000)
SDP 20/21 36,000 (27,761) (8,239)
Poca North 12,000 (5,796) (2,572) 3,632
Daisi Peer Educators 4,375 (3,429) 946
Okehampton
United Charities		 4,081 (2,250) (1,831)
Turning
Corners 2		 12,488 (6,500) (11,102) (5,114)
DCF Food Project 41,180 (41,318) 138
Other Projects 3,740 11,339 (13,219) 525 2,365
Total Restricted
Funds		 5,582 381,405 (320,575) (68,648) (256)

Analysis of Net As s ets Be twee n F un ds
Unrestricted Restricted Pensieit 2021
Funds IFunds Fumelp I » Total
6 6
Fund
balances		 at the period end are
represented
by;
Tangible fixed assets
Current assets		 18,670
1,458,709		 9)Q'282 'lI - j 18,670
'i k,358991
Current
liabilities		 (770,248) (82',6(('(I)i I » »
i		 ' -, (852,935)
Provision for liabilities
Total Net Assets		 707,131 7,595 (i2l993)00P)
',993000		 (2,993,000)
1,468,274
ysis of Net Assets Between Funds —Prior year comparative
Unrestricted Restricted Pension 2021
Funds Funds Funds Total
6 6
Fund
balances		 at the period end are
represented
by:
Tangible fixed assets 27,913 27,913
Current assets 1,502,327 6,963 1,509,290
Current
liabilities		 (891,084) (7,219) (I898,303)
Provision for liabilities (3,328,000) — (3,328,000) (3,328,000)
Total Net Assets 839,156 256 3,328,000 2,489,100
econciliation
of net		 expenditure to net cash flow from operating activities
2022 2021
6
Net expenditure for the accounting period (as per the 355,826 231,788
statement offinancial activities)
Adjustments
for:
Depreciation
charges		 16,737 10,549
Dividends, interest and rents from investment (340) (272)
DBPScost less contributions payable 330,000 152,000
(Increase)/decrease in debtors (466,567) (577,558)
Increase/(decrease) in creditors 154,632 17,796
Net cash provided by operating activities 390,288 ~165.697

Principal
actuari		 al assu mpti ons
At 31March At 31March
2022 2021
0/
Rate of increase in salaries 4.05 3.80
Rate of increase for pensions in payment/inflation 3.05 2.80
Discoun'i rate for scheme liabilities 2.55 2.05
The current
mortality		 assumptions include sufficient include sufficient allowance for future improvements improvements in the mortality
rates. The assumed life expectations on retirement age 65are:
At 31March At 31 March
2022 2021
Retiring today
Males retiring
today		 22.7 22.6
Females
retiring
today		 24.0 23.9
Retiring
in 20years
Mates retiring
in 20 years		 24.0 24.0
Females
retiring
in 20 years		 25.4 25.4
Sensitivity
analysis
At 31March 2022 At 31 March 2021
8 B
Discount rate +0.1% 6,003,000 5,955,000
Discount rate -0.1% 6,383,000 6,335,000
Mortality assumption —1 year increase B,417,000 6,376,000
Mortality assumpiion —1 year decrease 5,971,000 5918000

At 31 March 2022 At 31March 2021
Equities 1,893,000 1,765,000
Gilts 424,000 96,000
Other bonds 65,000 t26,000
Property 301,000 226,000
Cash and other liquid assets 38,000 29,000
Infrastructure 181,000 114,000
Alternative assets (1,000) 193,000
Investment funds 296,000 265,000
Private equity
Total market value ofassets 3,197,000 2,814,000
Less present value of defined benefit obligations (6,190,000) (6,142,000)
Liability as at 31 March 2022 (2,993,000) (3,328,000)
The actual return on scheme assets wasf226,000.

Amounts
recognise		 d
in		 the state ment offinancial activities
2022 2021
Current service cost 373,000 215,000
interest cost 87,000 39,000
Admin expenses 2,000 2,000
Total amount recognised in the SOFA 442,000 256,000
Changes
in the present		 value of defined benefit obligations were as follows:
2022f 2021
At 1 April 6,142,000 3,827,000
Current service cost 373,000 215,000
Interest cost 128,000 90,000
Change
in financial		 assumptions (810,000) 2,002,000
Experience
loss I(gain)		 12,000 (31,000)
Estimated
benefits net of		 transfers in (4,000)
Employee
contributions
Benefits paid 47,000 43,000
At 31 March 6,190,000 6,142,000

Niovemen ts
in		 the fair value ofcharity's shar e ofscheme assets
2022 2021
At t April 2,814,000 2,116,000
Interest income 59,000 51,000
Actuarial gain/(loss) 167,000 506,000
Administrative expenses (2,000) (2,000)
Employer contributions 112,000 104,000
Employee contributions 47,000 39,000
Benefits paid
At 31 March 3,197,000 2,614,000