Charity Number.. 1174184
Company Number.. CE010732
(England and Wales)
The King Edward Vl College Site Foundation
Report of the Trustees and Audited Financial Statements
For the Year Ended 31 December 2023

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Contents Pagg
Report of the Trusiees
3to7
Independent Examiner's Report
Ststement of Financial Actimlies
Statement of Financial Position
10
Not85 to the Financi81 Stat8Tn8nts
11 to 17
Detailed Statement of Financial Activities
18
Appendix
19

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Report of the Trustees
The Trustees have plgasurg in presenting their report and the financial st8tgments for the charitable Cornpany for the
year ended 31 De￿mber 2023. The Truslees have adopted the provisions of Accounting and Reporting by Charities..
Statement of Recommended Prac11￿ applicable to charities preparing their accounts in accordance with Ihe
Financial Reporting Standard applicable in the UK and the Republic ol Ireland IFRS 102lleffective 1 January 20191.
Struetur•, Govèmanc• and Managèmènt of Tha King Edward Vl Collèg• Sil• Foundation
Th8 King Edward Vl Co118ge Site Foundation CIO ICh8rity nUTnber 11741841 is controlled by Totn85 Cotntnunity
Developrnent Society as detailed within the Foundations constitution, entered into the Registers of Charities on 9th
August 2017. The object of the Foundation is concurrent with the objectives of Tolnes Comrnunity Development
Society.
The charitable objectives of the King Edward IV College Site Foundation CIO (locally known as the Mansion) is that
the Mansion is "a centre for the provision of facilib.es for the protnotion of further education for the inhabitanis ol
Totnes, and SLJbject th8r8to for me8ting, 18Ctur8s, classes, physical ex8rcis8 and oth8r forms of recr8ation and oth8r
18isur8 tirng occupation in the interests of soo181 weltsre with the objed of improving the wnditions of life for the said
inhabitants."
Despite the substantial advantages and advances of the Society developing and managing a multiple asset base for
the public benefit of Totnes and surrounds through the governance ol these two entities within, neither Totnes
C()mmunity Devel(>pment Society tsi The King Edward Vl College Site Foundati()n CIO have made financial
guarantees to the other entity. Furtherrnore, the manner in which the Society controls the Foundation requires the
8ppropriat8 conduct of both organisations in accordanc& with the FCA, Charity Commission, HMRC or Companies
House rules as they relate to each org8nisation.
Totnes Community Development Society Ltd was established on 9 July 2012 for the benefit of the community. The
Society is a Registered Society and is registered with the Finanaal Conduct Authority under the Co-operative and
Community Benefit Societies Act 2014.
Its busin8ss is directed by th8 Dir8Ctors.
Totnes Community Development Society established new rules with the Financial Conduct Authority on the 5th June
2017 and 25th January 2019. The changes provide for more appropriate details around the objectives of the Society,
and also provided for an enhanced asset lock for the activities ol the organisation. These were subsequently
accepted by HMRC who confirmed that TCDS should be treated as a charity for tax purposes from Sth June 2017.
In accordanc8 with the Ru18s of th8 Society, rn8mbership 15 fO￿8d of founding memb8r5 and additional m8mb8rs
invited at the discretion of the Diredors. At 31 De¢8mber 2023 the Society had 8 rngTnbership of 434.

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Report of the Trustees Iconlinued)
Operational Review
The Mansion continues to thrive and we have tenants renting every viable space as well as some roorrs whid)
remain available for sessional hire. We have been able to attract a tenant group that more than satisfies our
charitable objectives,. creating the opportunity for the people ol Totnes to have access to further education, recreation
and improved social welfare.
The rooms being prornoted for sessional hire include Lovelace, the Arts and Crafts studio, the ceraTlliCS Studio and
shared office space.
The building condition is still of concern and. as custodians, it is of great importance to us that we maintain the
Mansion's infrastructure so that it can continue lo serve its community for many years to come. Our maintenance
worksheet is approached methodically, working through a list of priorities.
In October 2023 we welcomed the Old School Hall ISHI back into use due to an enorrnous amount of voluntary
hours. In particular past Truste8s, David Spr8nt and Ann Cadoux-Hudson, who inv8St8d many hours to P8rticip8te in
a Course that resulted in the grant fvnding being 8w8rded. We are also incredibly lucky to have two dedicated and
skilled volunteers who refurbished windows, ventilation and generally oversaw the refurbishment project. The Old
School Hall will not only generate much needed incorne, contributing to the Mansion's resilience, it will also provide
the community with more low cost, flexible space for events, classes and gatherings.
Beyond rnaintenance, the Trustees are keen to re-evaluate the position wth regards whole site refurbishment
Iparticularfy in terms of energy use) and extension. With a regular and committed inc0rn8 th8r8 ar8 now stab18
fin8ncial foundations that are likely to give pot8ntial funders confiden¢9 in investing.
Looking ahead
The future lor the Mansion is bright. The team at the Mansion bring warmth, dedication and energy alongside the
many volunteers that supptsrt them. Our dedicated staff team of Iwo between them ensure that the office is manned
Monday to Friday, acting a5 the eyes and ears of the building - reacting to maintenance issues, tenant queries and
flagging up pot&nti81 problems. How8V8r, more importanuy th8y ar8 local p80ple who wholly b81i8v8 in the value that
the Mansion brings to this community and as Trustees we are incredibly grateful lo be able lo work alongside them,
as custodians ol this wonderful piece of our shared history.
The current financial year is delivering a very sound financial performance which will ensure that the Trustees are in
the best possible position to continue to build reserves. with a focus on ensuring longer term stability. Once
established, attention can then lum to the more significant structural developments required to enhance the site and
safeguard it for the community lor many years to come.

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Financial R8VleW
The Mansion is operated through ineome derived from the hire of the various room and spaees available on the site,
along with donations, grants and philanthropic giving, as s8t out in th8 not8S to th8 accounts.
At th8 dat8 of this r8POrt the KEVICSF has minimal r85erv85. How8v8r, th8 Tru5t88s acknow18dg8 that as the
org8nisation develops projeots, cspital assets and dired beneficiaries, such as staff, th8re will need to be a consistent
and regular review of this reserves policy to account for more complex risks and liabilities.
The Trustees remain focussed on balancing building maintenance and investmenl with the desire to build reserves.
with the year achieving a surplus of £10,29112022'. deficit of £7,093). The securing of grants for specific
maintenance works in the year, particularly the refurbishment of the Old School Hall, has been instrumental in the
years results. Alongside this, significant focussed work has continued to minimise costs, particulady energy use
which is not helped by the age of the building.
As in prior years, the Trustees have been undertaking the work detailed above in respect ol risk management,
iunnirig costs, increasing income and rnanaging the cash flow and financial operations. The Trustees recognise that
the continu8d viability of th8 Mansion 15 dependent on th8 investment and redeveloprM8nt planned, as the building will
not gengrate its full ewnomic value in the long term in its current physical condition.
The Strategy r8m8ins to achieve the n8cess8ry investment in the M8nsion to enable the generating of operating
surpluses to build reserves. and the Trustees are confident this strategy can be delivered with the financial year 2024
forecast to again deliver a surplus.

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Report of the Trustees Iconlinued)
Objaetiv•s and Aims
The trLJStees have considered the Charity Commission's guidan￿ on public benefit, induding the guidance'public
benefit.. running a charity IP821'.
Reference and Administrative Inforniation
Name of Charity
The King Edward Vl College Site Foundation
Charity registration number
1174184
Company ReglstratSon number CE010732
Prlnclpal ad(Ir8ss
The Mansion
36 Fore Street
Totnes
D8von
TQ9 5RP
Trusta•s
Th8 truste85 and offic8rs serving during the y8ar and since the y8ar 8nd were as follows..
Bethan Edwards
Robert Hopkins
Frances Northrop
Pat Shepherd
David Sprent
Carfy Trisk-Grove
lan Trisk-Grove
Appointed July 2Q22
Resigned August 2023
ResNgnedAugust 2023
Independent
Examlner
Sharon Austen FCCA
PKF Francis Clark
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Report of the Trustees Iconlinued)
Responsibilities of the Trustees
The Trustees are responsible for preparing the Report of the Truslees and the financial staternents in accordan
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The Trustees are required to prepare the finanaal statements for each financial period which give a true and fair view
of th8 charity and of the incorning resoLJrces and application of r&sourc85 of the charity for that period. In preparing
those fin8ncial slalements, the trustees are required to..
select suitable accounting policies and then apply them consistently
observe the methods and principles in the charities SORP
make judgements and estimates that are reasonable and prudent
state whelhei applicable UK accounting standard5 and statements of reeommended practice have been
follow8d, subj8Ct to any d8partur85 disclosed and 8xplained in th8 financial statements., and
pr8pare the fin8n¢ial ststernents on a going concem basis unless it is inappropriate to presume that this
basis applies.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position ol the charity and enable them to ensure that the financial statements comply with the
Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of Trustees 8nd signed on ils behalf by..
lan TrISk￿rove
31 October 2024

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Independent examiner's report to the Trustees of
The King Edward Vl College Site Foundation
Oplnlon
I report to the Iruslees on my examination ol the accounts of The King Edward Vl College Site Foundation (the
Charity) for the year ended 31 December 2022, which are set OLJt on pages 9 to 17.
Rasponsibilitiès and basis of r•port
As the charity trustees ol the Charity you are responsible for the preparation ol the accounts in accordance with the
requirements of the Charities Ad 20111'the Act'l. I report in respect of my examination of the Charity's aocounts
carried out under section 145 of the 2011 Acl and in Carrying out my exarnination I have followed all the applicable
Directions given by the Charity Commission under section 14515llbl of the 2011 Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the
exarnination giving me cause to believe that in any material respect..
111 accounting records w8r8 not kept in respect of th8 Charity a5 r8quir8d by section 130 of th8 Act,. or
121 the awounts do not accord with those reoords., or
131 the accounts do not comply with the applicable requirements concerning the fomi and content ol accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a 'true and lair view, which is not a matter considered as part of an independent examination.
I have no concems and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sharon Austen FCCA
Independent Examiner
PKF Franas Clark
Sigm8 House
Oak View Close
Edginswell Park
Torquay. TQ2 7FF
3111012024

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Statement of Financial Activities (including Income and Expenditure Account)
Notes
Unrestrfcled Restrlcted
funds
funds
2023
2022
Income and endowments from:
Donations and grants
3.875
17,200
21,075
3.374
oth8r trading 8Ctiviti8s
137,585
137,585
137,242
Other income
32,653
32,653
7,382
Total
174,113
17,200
191,313
147,998
Expenditu￿ on:
Raising fLJnds
1163,8221
117,2001
1181,0221
1155,0911
Total
1161,3221
117,2001
1181,0221
1155,0911
Re¢oncllSatlon of funds
Total funds brought forwar(I
1,482.405
1,482,405
1,489,498
Net in¢omelexpenditure
10.291
10,291
17,0931
Total fund$ carried forward
1,492.696
1,492,696
1,482,405

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Statement of Financial Position
Notas
2023
2022
Fixed assets
Tangible assets
1,509,549
1,500,000
1,509.549
1,500,000
urrent assets
Debtors
18.611
12,403
Cash at bank and in hand
11,826
11,321
30,437
23,724
Creditors.. amount falling due within one year
139.8631
141,3191
Net current IllabllltSesllassets
19.4261
117,5951
Total assets less current liabilities
1,500,123
1,482,405
Creditors.. amount falling due after one year
17,4271
Net assets
1,492,696
1,482.405
The fund5 of the charitable company
Unrestricted ineome funds
1,492,696
1,482,405
Total Funds
1.492.696
1,482,405
The financial statements were approved and authorised ft)r issue by the Board and signed ()n its behalf by-.
lan TriskQrove
Trustee
31 October 2024
10

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements
Accounting Policie5
Basis of accounting
The organisation is a Charitable Incorporated Organisation ICIOI registered in England and Wales.
The financial statements have been prepared under the historical cost convention and in accordance with
the Charities SORP IFRS 1021'Accounting and Reporting by Charities."Statement of Recommended
Practice applicable to charib.es preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republi¢ of Irg18nd IFRS 10211gffectivg 1 J8nu8ry 20191., Fin8nci81 Reporting
Standard 102 the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. and
the Charities Act 2011.
The King Edward Vl College Site Foundation meets the definition ol a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction valLJe unless otherwise stated in
the relevant accounting policy notelsl.
Reporting Period
The accounts cover the year to 31 December 2023.
The CIO was registered on 9 August 2017 and commenced activity on 1 January 2018.
Going Cone•rn
At th8 tirne of the approval of th8 a￿oUnt5 the Trustees continue to focus on establishing fin8nci81 stsbility
for the Mansion before proceeding forwards with any refurbishrrent or redeveloprnent of the site. Signrficant
focus has been placed on ensuring the site is operating at capacity with regards the tenancy arrangements,
and al the time ol writing this continues to be the case. The main locus of surplus spend is on a rolling
programme of building maintenance to safeguard the property and ensure it is fit lor its thriving community.
In recent years there has been a significant level of uncertainty about the ability of the Foundation to fund
ongoing and unplann8d maint8nance costs.. How8v8r with und8rlying p8rform8nce r8m8ining strong, th8
Trustees remain confident that there will be sufficient finance in place to meet any ongoing needs and hence
they are not at any risk of being forced io close the Mansion and consider that the Foundation is a going
concern for the foreseeable future.
Fund
In the year the eharity received both restricted funds, relating to awards for specrfic projects as part of an
over811 Building Maintenance fLJnd, and unrestrict8d funds predominat81y in r81ation to long term room r8nt81
and sessional room hire at the Mansion.
Grants
Grants are accounted for in accordance with the performance model.

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
Rental Income
Rental income included in the Slaternent of Financial Activities represents amounts receivable in respect of
rooms let on both formal lease terrns and on an add-hoc basis.
Tanglble fixed assets
Tangible fixed assets comprise the following".
the fre8hold prop8rty of th8 Mansion, which was tr8n5f8rr8d to th8 incorporated body frorn the
unincorporated ch8rity on 1 January 2018. No depreciation is provided in the accounts for the
freehold property.
Other building plant & machinery for which depreciation is provided in the accounts on a slraighl
line basis over a period of S years.
Finane• Lèasès
Assets h8ld under finance leas85, which conf8r rights and oblig8tions similar to th058 attached to OWn8d
assets, are ¢8pitalised 8s tangib18 fixed assets at the fair valug of the le8s8d ass8t lor, if low8r, the present
value of the minirnum lease payments as delennined at the inception of the lease) and are depreciated over
the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are
recorded as liabilities, while the interest elements are charged to the profit and loss account on a straight
line basis over the period of the leases.
Irrecoverable VAT
Irr8COV8rabl8 VAT is included in th8 St8t8ment of Financial Activities, and is report8d as part of th8
expenditure to which it relates.
Income frorn donations and grants
2023
2022
Restricted funds
Grants received
17,200
UnrestrScted funds
Grants received
3.200
Donations
3,875
174
21,075
3,374
12

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
Income earned from other a¢tivities
2023
2022
Unrestrided funds
Mansion Room Rental and Hire
137,585
137,242
Recharge of expenditure
22,793
5,207
Other income
9,860
2,175
The charity charged tenants Servi￿ charge contributions amounting to £22,79312022'. £5,207). Other
income arises from anallary events organised by the Trustees and volunteers at the Mansion.
Expenditure on other trading aetivities
Unrestricted
funds
Restricted
funds
2023
2022
Mansion Room Rent81 and Hire
163,822
17,200
181,022
155,091
The above figure of &xpenditur& of £181,022 is analys8d as follows..
Direct building management
Audit fees
Business rates
Depreciation
oth8r 8xpenditur8
£108,290
£2,620
£1,613
£1,061
£67,438
All expenditure in the year is detailed in the appendix Ipage 191 and includes insurance, cleaning and
professional fees on long term plans for the Mansion. No amc)unts represent expenses charged by the
Trustee5.
13

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
Tangible fixed assets
Land and
buildings
Plant &
maehinery
Total
Cost of valuatlon
At 1 January 2023
1,500,000
1.500,000
Additions
10,610
10,610
At 31 December 2023
1,500.000
1.500.000
Dgpreclatlon
At 1 January 2023
Charge for the year
1,061
1,061
At 31 December 2023
1,061
1.061
Ngt ljook valuès
At 1 January 2023
1,500,000
1.500,000
At 31 December 2023
1,500,000
1,509,549
Amounts reported above under'Planl & Machinery are held under finance leases.
6. Oebtors
2023
2022
Amounts due wlthln on year:
Trade debtors
4,289
3.755
Other debtors
5,269
Prepayments and accrued inc(>me
9.053
8,648
18,611
12,403
14

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
al Creditors.. amounts falling due within one year
2023
2022
Borrowings
2,122
Trade creditors
9.324
17,536
Amounts due to parent undertaking
13,107
6,479
Other creditors
576
2,837
Awruals and deferred income
14,734
14,467
39.863
41,319
bl Cr•ditors= amounts falling du• aftèr onè yèar
2023
2022
Boriowing5
7.427
Amounts above shown as borrowings represent total amounts due under finance lease arrangements.
Obllgatlons undèr op•ratlng lèasès
Th8 total of future tninimum188s8 payments rec8ivabl8 IS as follows..
2023
2022
Not later than one year
94.873
98,636
Latei than one year and not later than five years
113.854
175,203
208,727
273,839
15

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
Movement in Funds
Unrestricted Funds
Current year
Balance at
01.Jan.23
Incoming
resources
Outgoing Balanc8 at
resources
31.De¢.23
General fund
1,482,405
174,113
1163,8221
1,492,696
Previous year
Balane8 at
01.Jan.22
Ineoming
resources
Outgoing
resources
Balanee at
31.Dec.22
General fund
1,489,498
147,998
1155,0911
1,482,405
Purpose of unrestrlcted funds
General fund
The provision of facilib.es for the prornotion of further education for the inhabitants of Totnes, and subject
ther8to for m8eting, lectures, class85, physical 8xercise and other forms of r8cre8tion and other leisur& tim8
owupation in the interests of social we￿are with the object of improving the conditions of lrfe for the
inhabitants
Restrlcted funds
Current year
Balance at
01.Jan.23
In¢omin9
resources
Outgoing
resources
Balance at
31.Dec.23
Building Maintenance FLJnd
17,200
117,2001
Previous year
Balance at
01.Jan.22
Incoming
resources
Outgoing
resources
Balan¢e at
31.Dec.22
Aichitectural Heritage Fund
Purpose of restrlcted funds
Building Maintenance Funds- Grants provided from external suppliers towards specrfic maintenance
projects at the Mansion. In the current year this included 210,000 from Social Enterprise Academy,
Scotland toward5 our Old School Hall proj8Ct and £6,000 frorn the Livew8st Social Value fund5 towards
specffi¢ internal upgrades including the disabled toilet.
Architectural Heritage Fund - Grant provided to undertake architectural assessments of the Mansion.
16

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Notes to the Financial Stalements (Continued)
10. Analys15 of net assets between funds
Current year
Tanglble
fixed
assets
Net current Net Assets
assetsl
Unrestrlcted funds
General
1,509,549
19,4261
1,492,696
Prevlous year
Tanglble
fixed
a55ets
Net current Net Assets
assèts
UnrestrScted funds
General
1,500,000
117.5951
1,482,498
11. Parent undertaking and related party transactions
The parent entity of the charty is Totnes Community Development Society a Co-opeiative and communty
b8nefit society registered in th8 United Kingdorn with registered nUTnber IP031671. Details of the society's
objeots and activities are set out in the trustees ￿port. The society prepares consolidated a¢￿UnIS which
may be obtained from the Financial Conduct Authority.
During the year the charity re￿iVed no income frorn its parent12022.' none) and was charged service
charges and recharged expenses totalling £22,52812022'. £21,988). As at the year end, £13,10712022.'
£6,479) was payable to the charity's parent.

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Detailed Slatement of Financial Activities
2023
2022
INCOME
Donations
1.375
174
Grants receivable
19,00
3,200
Other trading income - Mansion Room Rental and Hire
137,585
137,242
other incorne
32,653
7,382
Total incoming resources
191.313
147,998
Expendlture
Mansion Room Rental 8nd Hire
1181,0221
1155.0911
Nèt IDaflcltl I Surplus
10,291
17,0931
18

The King Edward Vl College Site Foundation
Year Ended 31 December 2023
Appendix - Expenditure Analysis
Expendlture
2023
2022
Accountancy f88S
1,926
852
Advertising and marketing
76
31
Bad debts
1121
Building servicing and preventative maintenance
44,824
34,015
Gar8takerlF8ciliti85 Management
11,379
10,507
Cleaning
3,689
3,457
Consulting
2,494
Depreciation
1,061
Electricity
31,169
30,345
Gas
8,002
3,759
General expenses
5,193
3,400
Independent examinationlaudit fee
2,620
2,280
Insurance
10,528
9.988
IT & Cotnputer costs
1,927
1,336
offi￿ costs
1,102
3,043
Rates
1,613
2,242
Professional Fees Icharged under SLAI
12,000
12.000
Staff costs
28,845
26,174
Telephone
1,025
784
Waste disposal and recycling
4,244
4,331
Water
7,305
6.559
Total •xp•ndltur•
181,022
155,091
19