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|||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|
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|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|
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|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)|
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|||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|
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|||||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|
##
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|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|
##
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|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|
##
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|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|
##
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|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|
##
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|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|
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|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)|
##
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|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||||
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|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|
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|||||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|
##
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|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|