Charity Number: 1174184
Company Number: CE010732
(England and Wales)
The King Edward Vl College Site Foundation
Report of the Trustees and Financial Statements
For the Year Ended 31 De￿mber 2024

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Contents Page
Report of the Trustees
3to6
Independent Examinerfs Report
Statement of Financial Activities
Statemenl of Financial Position
Notes to the Financial Statements
10t016
Detailed Statement of Financial Activities
17
Appendix
18

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Report of the Trustees
The Trustees have pleasure in presenting their report and the financial stalements for the charitable company for the year
ended 31 December 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and the Republic of Ireland {FRS 102) {effective 1 January 20191.
Structure, Governance and Management of The King Edward Vl College Site Foundation
The King Edward Vl College Site Foundation CIO (Charity number 1174184) is controlled by Tolnes Community
Development Society as detailed within the Foundations constitution entered into the Registers of Charities on 9th August
2017. The object of the Foundation is concu￿ent with the objectives of Totnes Community Development Society.
The charitable objectives of the King Edward IV College Site Foundation CIO {Ic￿llY known as the Mansion) is that the
Mansion is "a centre for the provision of facilities for the promotion of further education for the inhabitants of Totnes, and
subject thereto for meeting. lectures. classes. physical exercise and other fomis of recreation and other leisure time
occupation in the interests of social welfare with the object of improving the conditions 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 govemance of these two entities within, neither Tothes Community
Development Society or The King Edward Vl College Site Foundation CIO have made financial guarantees to the other
entity. Furthermore. the manner in which the Society controls the Foundation requires the appropriate conduct of both
organisations in accordance with the FCA Charity Commission HMRC or Companies House rules as they relate to each
organisation.
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 Financial Conduct Authority under the Co-operative and Community
Benefit Societies Act 2014.
Its business is directed by the Directors.
Totnes Community Development Society established new Tules with Ihe 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 of the organisation. These were subsequenly accepled by HMRC
who confirmed Ihat TCDS should be treated as a charity for lax purposes from 5th June 2017.
In accordance with the Rules of the Society, membership is fO￿ne￿ of founding members and additional members invited at
the discretion of the Directors. Al 31 December 2024 the Society had a membership of 434.
Operational Review
The Mansion continues to thrive and we have lenants ￿nting every viable space as well as some rooms which remain
available for sessional hire. We have been able lo attract a tenant group thal more than satisfies our charitable objectives-
creating the opportunity for the people of Totnes to have access to further educakn'on, recreation and improved social
welfare.
The rooms being promoted for sessional hire include the Old Sch￿1 Hall, Lovela￿. the art studio, the ceramics studio and
two shared office spaces.

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
The building condilion is an ongoing concem and. as custodians. il is of greal importance to us Ihat we maintain the
Mansion's infraslructure so that it can continue to serve its community for many years to come. Our maintenance worksheet
is approached methodically working through a list of priorities.
We are lucky to have several dedicated volunteers who worf( hard to ensure the building meets health and safety
requirements. with support from professional contractors. and that the building is welcoming, from our Wednesday
gardening group to those who volunteer time to do painting and decorating. Beyond maintenance the Trustees are keen to
re*valuate the position wth regards whole site refurbishment. particularly in temis of energy use and accessibility- With a
regular and committed income there is now a slable financial foundation that has given funders confidence in investing in
our operations and we are grateful to the National Lottery Awards for All programme for their award in November 2024.
Looking ahead
The future for the Mansion is bright. The team at the Mansion bring wamith. dedication and energy alongside the many
volunteers that support them. Our dedicated staff team of tsvo be￿een them ensure that the office is manned Monday to
Friday acting as the eyes and ears of the building - reacting to maintenance issues tenant queries and flagging up
potential problems. However. more importantly they a￿ local people who wholly believe in the value that the Mansion
brings to this community and as Trustees we a￿ incredibly grateful to be able to Work alongside them, as custodians of Ihis
wonderful ple￿ of our shared history.
The current financial year is delivering a very sound financial perfomiance which will ensure that the Trustees are in the
best possible position to conlinue to build reserves with a focus on ensuring longer tem stability. Once established
attention can then tum to the more significant structural developrnents required to enhance the site and safeguard it for the
community for many years to come.
Financial Review
The Mansion is operated through income derived from the hire of the various rooms and spaces available on the site. along
with donations, grants and philanthropic giving, as set out in the notes lo the accounts.
At the date of this report the KEVICSF has minimal reserves. However. the Trustees acknowledge that as the organisation
develops projects. capital assets and direct beneficiaries. such as staff. there will need to be a consistent and regular
review of Ihis reserves policy lo account for more complex risks and liabilities.
The Trustees remain focused on balancing building rna1ntenan￿ and investment with Ihe desire lo build reserves wilh the
year achieving a surplus lincluding restricted funds) of £27.481 12023.. surplus of £10,291). The securing of grants for
operations and improvements to wifi and energy infrastructure has been instrumental in the yearfs results. Alongside this,
significant focused work has continued to minimise costs, particularfy 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 of risk managemenl, running
costs increasing income and managing the cash flow and finanryal operations. The Trustees recognise that the continued
viability of Ihe Mansion is dependent on the investment and redevelopment planned, as the building will not generate its full
economic value in Ihe long lerm in its current physical condition.
The strategy remains to achieve the necessary investment in the Mansion to enable the generating of operating surpluses
to build reserves, and the Trustees a￿ confident this strategy can be delivered with the financial year 2025 forecast to
again deliver a surplus.

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Report of the Trustees (Continued)
Objectives and Aims
The trustees have considered Ihe Charity Commission's guidance on public beneffil, including the guidance 'public
benefit- running a charity IPB2)'.
Reference and Administrative Infomiation
Name of Charity
The King Edward Vl College Site Foundation
Charity registration number
1174184
Company Registralion number CE010732
Principal address
The Mansion
36 Fore Street
Totnes
Devon
TQ9 5RP
Trustees
The trustees and officers serving during the year and since the year end were as follows=
Bethan Edwards
Robert Hopkins
Frances Northrop
Carfy Trisk-Grove
(resigned 01 December 20241
lan Trisk-Grove
(resigned 01 December 20241
David Cutting
(appointed 01 December 20241
Janet Bot¢herby-Cowan (appointed 01 December 20241
(resigned 22 January 20241
Independent
Examiner
Sharon Austen FCCA
Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF

The Klng Edward Vl College Site Foundation
Year ErKled 31 December 2024
Report of the Trustsos (Continued)
Responslbllilies of tho Trustees
The TnJstees are resprmsible for preparing the Rèport of Ihe Trustees and the financk81 statements in acgxrdance
with applicable law and Untted Kingdom A(xxJunlnig Stsndards (United lfjngdixT7 Generalty Awled A¢￿Unting
PTaclice)-
The Trustees are required to prepare the fir¢ancial statements each financial period wh￿h give a true and fair view
of the charity and of th8 incomlng resources and application of resoums of the charity forthat period. In preparfng
Ihose financia Ststern￿￿. the trustees are requred lo:
select suftable accounting pol￿teS and Ihen apply them ¢onsistenty
obSe￿e Ihe method5 and principles in the charTbes SORP
makg judgements and estimates that are reasonaL￿e aThJ pnKJent
slate whether appIl￿ble UK accounting stsndards and stat￿￿ents of Trcommended practr£ have been
followed, subject to any departures disclosed and explaned in the financial staternents.. and
prepare the finan(xal slatements on a going a)n(xm basis V￿eSS it is inappropiiate to presume that this
basis applies.
The Trustees are resp¢A￿lble for keeping proper accounb.ng records whith disckjse with reasonable accuracy at any
tim8 the financial positron of the charity and 8nabl8 theffl to ensure that the financial statements comply with th8
Charities Act 2011. They are also responsitde for safeguarding the assets of the charity and hence for taking
reasonable Steps for th& preVen￿n and detection of fr￿d aThJ other irregularities.
Approved by the Board of Trustees and signed on Its behall by..
27 October 2025
Trustee
Frances Northrop

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Independent examiner's report to the Trustees of
The King Edward Vl College Site Foundation
Oplnlon
I report to Ihe trustees on my examinalion of the a¢￿u￿1$ of The King Edward Vl College Sile Foundation (the
Charity) for the year ended 31 December 2024, which are set out on pages 8 to 16.
Responsibilities and basis of report
As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the Charity's accounts
carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable
Directions given by the Charity Commission under section 14515){bl of the 2011 Acl.
Independent examiner's statement
I have completed my examinalion. I confirm thal no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
{11 accounting records were not kept in respect of the Charity as required by section 130 of the Act,. or
(21 the accounts do not accord with those records.. or
{31 the accounts do not comply with the applicable requirements conceming the fomi and content of accounts
sel out in the Charities (Accounts and Reports) Regulalions 2008 other than any requirement that the
accounts give a 'true and fair view. which is nol a matter considered as part of an independent examination.
I have no concerns 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
Francis cla￿ LLP
Sigma House
Oak View Close
Edginswell Park
Torquay. TQ2 7FF
27 Oclober 2025

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Statement of Financial Activities {including Income and Expenditure Account)
Notes
Unrestricted Restricted
funds
funds
2024
2023
Income and endowments from:
Donations and grants
3.803
20.000
23,803
21,075
Other Irading activities
156,309
156.309
137,585
Other income
42.290
42.290
32,653
Total
202,402
20,000
222,402
191,313
Expenditure on:
Raising funds
{192.551)
{2,3701
(194.921)
1181,022)
Total
(192,551)
(2,370)
(194,921)
1181,022)
Reconciliation of funds
Total funds brought forward
1,492,696
1,492,696
1.482,405
Net Incomelexpenditure
9,851
17,630
27,481
10,291
Totsl funds carried forward
1.502.547
17.630
1.520.177
1,492,696

The King Edward Vl Cdlege Site Foundation
Year EThJed 31 D￿mber 2024
Statement of Financial Position
Notes
2024
2023
Fixed assets
Tangible assets
1,518,198
1.509.549
1,518,198
1.509.549
Currènt assets
Debtors
22.321
18,611
Cash at bank and in hand
43,091
11,826
65.412
30.437
Creditors.. amount falling due one ye
(58,305)
{39.863)
Net curront Illabllltlèsyassets
7,107
{9.4261
Totsl assets less currwrt liabilities
1,525,305
1,500,123
Creditor5'. arnount falling due after year
(5.128)
(7,427)
Net assets
1,520.177
1,492,696
The funds of the ¢harltsble company
Unrestricted income funds
1.502,547
1,492.6
Restricted irKome funds
17,630
Total Funds
1,520,177
1.492,696
The financial statements were approved and aultK)ri8ed for issue by the Bcord ￿ swJned on rts behalf by:
27 October 2025
Trvsteg
Frances Northrop

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements
Accounting Policies
Basis of accounting
The organisation is a Charitable Incorporated Organisation (CIO) registered in England and Wales.
The financial statements have been prepared under the historical cost convention and in accordance with
the Charities SORP {FRS 1021 'Accounting and Reporting by Charities'.Ststement of Recommended
Practi￿ applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102){effective 1 January 2019),, Financial Reporting
Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021, and
the Charities Act 2011.
The King Edward Vl College Site Foundation meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in
the relevant accounting policy note{sl.
Reporting Period
The accounts cover the year to 31 December 2024.
The CIO was registered on 9 August 2017 and ComMen￿d activity on 1 January 2018.
Going Concern
At the time of the approval of Ihe accounts the Trustees continue lo focus on establishing finanual stabilily
for the Mansion before pro￿eding forwards with any refvrbishmenl or redevelopment of the site. Significant
focus has been placed on ensuring the site is operating at capacity wilh regards the tenancy arrangements,
and at the time of writing this conlinues lo be the case. The main focus of surplus spend is on a rolling
programme of building maintenance to safeguard the propety and ensure it is fit for its thriving community.
In recent years there has been a signrficant level of uncertainty about the ability of the Foundation to fund
ongoing and unplanned maintenance costs. However. with underlying perfomiance remaining strong, the
Trustees remain confident that there wll be sufficient finance in place to meet any ongoing needs and hence
they are not at any risk of being forced to close the Mansion and consider that the Foundation is a going
concem for Ihe foreseeable future.
Fund
The charity received only unrestricted funds in the year. predominately in relation lo long temi room rental
and sessional room hire at the Mansion.
Grants
Grants are accounled for in accordance with the performance model.
10

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
Rental Income
Rental income included in the Statement of Financial Aclivities ￿presents amounts receivable in ￿SpeCt of
rooms let on both formal lease terms and on an add-hoc basis.
Tangible fixed assets
Tangible fixed assels comprise the following=
the freehold propety of the Mansion. which was transferred to the incorporated body from the
unincorwrated charity on 1 January 2018. No depreciation is provided in the accounts for Ihe
freehold propety.
Other building plant & machinery for which depreciation is provided in the accounts on a straight
line basis over a period of 5 years.
Finance Leases
Assets held under finance leases. which confer rights and obligations similar to those attached to owned
assets. are capitalised as tangible fixed assets at the fair value of the leased asset {or, if lower, the present
value of the minimum lease payments as detemiined at the inception of the lease) and are depreciated over
the shorter of the lease temis and their useful lives. The capital elements of future lease obligations are
recorded as liabilities, while Ihe interest elements are charged to the profil and loss account on a straighl
line basis over the period of the leases.
Irrecoverable VAT
Irrecoverable VAT is included in the Statement of Financial Activities. and is reported as part of the
expenditure to which it relates.
Income from donations and grants
2024
2023
Restricted funds
Grants received
20,000
17.200
Unrestrided funds
Grants received
Donations
3.803
3,875
23.803
21.075

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
Income earned from other activities
2024
2023
Unrestricted funds
Mansion Room Rental and Hire
156,309
137,585
Recharge of expenditure
33.315
22,793
Other income
8.975
9.860
The charity charged tenants service charge contributions amounting to £33.31512023.' £22,793). Other
income arises from ancillary events organised by the Trustees and volunleers at the Mansion.
Expenditure on other trading activities
Un￿$t￿¢t¢d
funds
Restricted
funds
2024
2023
Mansion Room Rental and Hire
192.551
2.370
194.921
181.022
The above figure of expenditure of £194.921 is analysed as follows=
Direct building management
Audit fees
Business rates
Depreciation
Other expenditure
£114.519
£2.503
£1.422
£2.493
£73.984
All expendilure in the year is detailed in the appendix (page 18) and includes insuran￿, cleaning and
professional fees on long tem plans for the Mansion. No amounts rep￿sent expenses charged by the
Trustees.
12

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
Tangible fixed assets
Land and
buildings
Plant &
machinery
Total
Cost of valuation
At 1 January 2024
1.500,000
10,610
1.510,610
Additions
11,142
11,142
Al 31 De¢ember 2024
1.500.000
21.752
1.521.752
Depreciation
At 1 January 2024
1,061
1,061
Charge for the year
2,493
2,493
Al 31 December 2024
3.554
3.554
Net book values
At 1 January 2024
1.500,000
9.549
1.509,549
Al 31 December 2024
1.500.000
18.198
1.518.198
Amounts reported above under'Plant & Machinery are held under finan￿ leases.
Debtors
2024
2023
Amounts due within on year:
Trade debtors
19.527
4,289
Olher debtors
234
5,269
Prepayments and accnjed income
2,560
9,053
22.321
18,611
13

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
a} Creditors: amounts falling due within one year
2024
2023
Borrowings
2,122
2.122
Trade creditors
17,851
9.324
Amounts due to parent undertaking
15.793
13,107
Other creditors
921
576
Accruals and deferred incLsme
21,618
14.734
58.305
39,863
b) Creditors: amounts falling due after one year
2024
2023
Borrowings
5,128
7.427
Amounts above shown as borrowings represent lotal amounts due under finance lease arrangements.
Obligations under operating leases
The total of future minimum lease payments receivable is as follows..
2024
2023
Not later than one year
93.880
94.873
Later than one year and not later than five years
59,395
113,854
153.275
208,727
14

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
Movement in Funds
Unrestricted Funds
Current year
Balance at
01.Jan.24
Incoming
resources
Outgoing Balance at
resources
31.Dec.24
General fund
1,492.696
202.402
(192,551 }
1,502.547
Previous year
Balance at
01.Jan.23
Incorning
resources
Outgoing
resources
Balance at
31.Dec.23
General fund
1.482.405
174,113
(163,822}
1.492.696
Purpose of unrestricted funds
General fund
The provision of facilities for the promotion of further education for the inhabitants of Totnes, and subject
thereto for meeting, lectures, classes. physical exercise and other forms of recreation and other leisure time
occupation in the interests of social welfare with the object of improving the conditions of life for the
inhabitants
Restricted funds
Current year
Balance at
01.Jan.24
Incoming
resources
Outgoing Balance at
resources
31.Dec.24
National Lottery Community Fund
20,000
{2,3701
17,630
Previous year
Balance at
01.Jan.23
Incoming
resources
Outgoing Balance at
resources
31.Dec.23
Building Maintenance Fund
17.200
{17,2001
Purpose of restricted funds
National Lottery Community Fund - Grant received towards Sustainability al the Mansion Project
15

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Notes to the Financial Statements (Continued)
10. Analysis of net assets between funds
Current year
Tangible
fixed assets
Net
Cur￿nt
assetsl
{liabilities)
C￿dItorS Net Assets
more than
one year
Unrestricted funds
General
1,518,198
(10,523)
{5,1281
1,502,547
Restricted funds
National Lottery Community Fund
17.630
17.630
Prevlous year
Tangible
fixed assets
Net
current
assetsl
{liabilities)
Creditors Net Assets
more than
one year
Unrestricted funds
General
1.509.549
(9,4261
{7,4271
1.492.696
11. Parent undertaking and related party transaclions
The parent entity of the charity is Totnes Community Development Society a co-operats've and community
benefit society registered in the United Kingdom with registered number IP031671. Details of the society's
objects and activities are set out in the trustees report. The society prepares consolidated accounts which
may be oblained from the Financial Conduct Authority-
During the year the charity re￿iVed no income from ils parent {2023.' none) and was charged Se￿iCe
charges and recharged expenses lotaling £33.315 {2023.' £22,528). As at the year end, £15,79312023'.
£13,107) was payable to the charity's parent.
16

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Detailed Statement of Financial Activities
2024
2023
INCOME
Donations
3.803
1,375
Grants receivable
20,000
19.700
Other trading income - Mansion Ri)om Rental and Hire
156,309
137,585
Olher income
42.290
32,653
Total incoming resources
222,402
191.313
Expendllure
Mansion Room Rental and Hire
(194.921)
(181,0221
Net {Deficit) I Surplus
27,481
10.291
17

The King Edward Vl College Site Foundation
Year Ended 31 December 2024
Appendix - Expenditure Analysis
Expendlture
2024
2023
Accountancy fees
3,740
1.926
Advertising and marf(eting
228
76
Bad debls
Building servicing and preventative maintenan
44.657
44.824
CaretakerlFacilities Management
12,005
11.379
Cleaning
4,319
3,689
Consulting
2,494
Depreciation
2,493
1.061
Electricity
32,942
31.169
Gas
3,652
8,002
General expenses
4.561
5,193
Independent examinationlaudit fee
2.503
2.620
Insurance
12,401
10.528
IT & Computer costs
605
1,927
Office costs
3.305
1.102
Rates
1,422
1.613
Professional Fees {charged under SLAI
12,000
12,000
Slaff cosls
37.085
28,845
Telephone
1,368
1.025
Waste disposal and recycling
3,883
4.244
Water
11,752
7.305
Total expenditure
194.921
181.022
18