Company wistr8Jon number.. CE014033
Charity regi$traUon numter.. 1178282
Harbour House Trust
Annual Report and Financbl Stslements
for the Year Ended 5 Aprll 2025
WESTCOTTS
CMARTIRID AecouNTANT
1 8USINess ADVIIEWI

Harbour Hou80 Trust
Contents
Reference and Admlnlstrafjve Details
Trnstees, Report
2to9
IndeFendent Examiners Report
10
Statoment of Financial Activiti88
11
Balance Sheet
12to13
Notes to th& Flnancl81 Statements
14to24

Harbour House Trust
Reference and Admlnlstratlve Details
Trustses
C Bagg, (resigned 3 April 2025)
A M Bennett, (co-chair)
H L Firth, Ico-chairl
C J Forcer
N Grodhunce, Ireslgned 24 October 2024)
R Harrington. (reS￿￿ned 25 May 20251
P Lawrence, {reslgned 11 September 20251
A Llghffoot
N Llewellyn, {reslgned 21 October 20241
J Robinson
Charfty Reglstratlon NuM￿r
1178282
Comp•ny R•gl8tratlon Numbor CE014033
Ro918t•r•d Offlce
Harbour House
The Promanade
Kingsbridge
Devon
TQ7 1JD
Weslcotts {SWI LLP
Independent Examlner
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT
Independent Examlner
Page 1

Harbour House Trust
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
wf(h the financial statements of the charitable company foi tha year ended 5 April 2025.
Rgpo.rt.o.f tho.Truste
F_or Jth.¢_Y_¢ar En.dg_d.5 Aprll 1025
Thls report complies wllh the Charllles A¢1 2011, the charitys constilutlon and the Statement of
Recommended praC￿ce appllcable lo ch8dlle$ preparlng their accounts in accordance with the
Flnancial Reportlng Standard appllcable In th8 UK and Republlc of Ireland (FRS 102) (effective 1
January 20151 las amended for 8c¢ountlng period commencSng from 1 January 2016).
Harbour House Trust is a Charitable Incorwrated Organlsatlon ICIOI, govemed according to thg
Constitution dated 8 May 2018. 11 was established on 8 May 2018 to lak8 forward thè work of JB Pelly
Charitable Trust, an Unincorporated Organisallon Iregislered charity numbèr 2855651.
OBJECTIVE8
ObJoGtlves and alm•
Harbour House- Enrlchlng LIvo8
The objectives of the charlty are-
To further benefil the resldenls of Klngsbridge and the surroundlng area, wllhoul distSnction of
S8x, sexual orlentslion, race or of polSllGal, r•llglous or other opinions by a88oclating togelher
the saSd resldents 8nd the local aulhorilies, voluntary and Other organisalions in a common
effort to advance educatlon and to provlde facilities In the inlere51s of soclal welfare for
recr8allon and le18ure lima occupallon wllh the oblective of Improvlng the condlllons of Ilfe for
the iesldenl8. In furtherance of these obleGlives but not others, the charlty Iruslees shall have
the power.. to establlsh or secure the eslabllshment of a community centre and to maintain or
manage or co-operate wtlh 8ny stotulory aulhorfly In the maSnlenance and management of
such a cenlre for actlvilies promotod by the charltable Incorporated organlsation In
furtheranc8 of the above oblectiva.
To advance the arts for the public benefil In parkncular by the eslabllshmenl and malntenanco
of an art gallery.
To further su¢h charitable purposes for the public ben8fl1 as are 8xclusively charitable
a¢wrding to the laws of England and Wales 8$ the charity trustees may from tirne to lime
delermino.
Our vlslon Is for everyone lo have opportunillos to enrich Iheli Ilves. Our ml8slon Is lo offer dynamic,
thoughtlul, and sometlmes challenglng ¢reativ&, cultural, and wellbeing activities that insplre and
engage.
Kgy desired outcomes:
Improved communlty coheslon
Improved physical and mental health and wellbeing
Increased cultural and socio-economic development
Reduced socSal Isolatlon
Increased environmgnlal literacy
Page 2

Harbour House Trust
Trustees. Report
A Theory of Change model and Impact Measurement Fr8mework is in place to monitor and evaluate
progress against these outcomes, and this has provided robust evaluation and evidence to support
successful applications for grant funding and wlll be developed over the next financlal year to develop
philanthropic donations. Embedding thls further, the charity also published ils first ever Impact Report
for this financial year 2024-2025. which shlnes a light on the projects. partnershlps and people who
have brought our strategy to life.
Stralfjglc aims for n•xt 34 yearn..
The trustees recèntly r8viewed thls strategy as part of the on90ing organisational review of the charity
and added an additSonal aim141',
To develop and deliver a dynamic, exciting, and sometimes challenging programme ot
¢￿atIVe. cultural, and wellbeing activities that is locally relevant, arb'stically diverse, and
culturally inclusive.
For Harbour House to be recognised as a centre of excellence for Cultu￿ and wellbelng.
where people and communlties can ￿alIse their creative potentlal, engage In movement and
mindfulness Practices, and enr￿h their lives.
For South Hams to be known as 8 forw8rd-Ihinklng. Ou￿ard-l00kIng, creative destination,
where vlsltors have opportunilles to experience a dlv8rse and ¢ulturalty competent creativ&
offer.
To becom& a financially sustainable organlsatlon with diverse Income streams.
Publ1¢ benoflt
In planning our activities for the yèar, and as evSdenced by our desired outcomes and our Theory of
Change. we have given careful consideration to the Charities Commissioners general guldance on
public benefit under section 17151 of the 2011 Charities Act.
ACHIEVEMENTS AND PERFORMANCE
Programme and communlty engagomont at Harbour Hou••
At Harbour House, the ¢uraled programme of exhibitions, porfomianceg and community engagement
aclivilles continues to benefit considerably more, and more div&rse, communities in Kingsbridgè, and
to engage new audiences. For the period covered by this report the programme explores four key
themes, with a focus for this period on the intersection of art and movement and underpinned by the
Flve Ways to Wellbeing {Connecl, Be Active, Take Notice. Keep Learning, and Give).
1 Art, landscape and the environment
2 Art and movement
3 Work which creates space for the LGBTQ+ community
4 Grief and loss
We have continued lo focus on partnenng with a number of local organisatsons to support those wilh
the most barriers lo ac¢e$s through our community engagement programme.
We are proud that our ethibition5 and Gommunity engagement programme are free to all.
Page 3

Harbour House Trust
Trustees. Report
Exhlblllons
For the period covered by Ihls report, 5,263 people visited our gallery. Our exhibitions programme
showcased the best of contemporary art in the South West, ¢reating much needed opportunitles for
artists and practitioners in our region. and in particular enabled Plymoulh-based artisl Llyr Davies to
have the first solo exhibition of their career. alongside bringing work by Turner Prize winner Jeremy
Deller, one of the leading contemporary artists of our time, lo our communlties. We also exhiblled
work by renowned Comwall-based artist Naomi Frears, which included a new soundtrack Commission
supported by the charity. Each exhibition included a free creative or movement-based activity givlng
visitors a hands-on way to explore the arb'st's work and dSscover thelr own crèativity.
Community engagement programmo
W8 held 83 fr88 workshops and events. and 2,889 participants engaged with our fr&e community
engag8m8nl programme. W& worked wlth a fange of community partners to dellver th85e events as
detailed b810w.
Activities 115.. A serias of movement and photography workshops for adults wth leaming differences
and disablllties.
Family Advice Suppart Team.. Provided workshops to the youth group Including maklng zines
celebrating LGBTQIA+ history and 'h¢)w lo DJ" workshops.
Kingsbridge Celebrates Christmas.. Provided workshops. performances. and a silent disco for the local
community.
Kingsbridge Community College.. Supported their KS3 and 4 exhibitions, and their sixth fom)
exhibition.. developed sixth fomi li18 drawing sessions, worked with sixth formers lo create athork and
workshops for Kingsbridg8 Nature Festival.
Kingsbridge Community Prim8ry School.. Developed and delivered an after school art club, curriculum
Ilnked workshops and school visits.
Klngsbridge Fair Week.. provided workshops and performances for the local communlty.
Kingsbridge Fwd Bank. Supported chlldren aged 8-12 during school holKlays, providing art and
movement activities and healthy breakfasts and lunches.
Kingsbridge Town Councll.. Provided workshops at Love Your Park for the I￿al community,. supported
the Public Art Committee.
Learn Devon.. Worked wllh a group ol learners wilh leaming dlfferences and disabilltles to create Easy
Read guides for our exhibitions.
South Hams Communty Action. Dartmouth Caring and the NHS.. Provided art and movement
workshops 10 Social prescribing clients with long temi mental health challenges.
Supportlng art18ts and practftloners
For this r8POrting period, we worked wth 40 D&von & Cornwall-ba5ed artists and movernent
practitioner5 across diverse media. Our engagemenl programme offers employment and developrnenl
opportunf(ies to visual artists and movement practitioners based in the South West and beyond. Our
prograrnme benefits from working with a wide range of artists from a variety of ba¢kgrounds. bringing
wtth them different lived experiences and ways of looking at the world.
Page 4

Harbour House Trust
Trustees. Report
In addition to this, we have worked with 6 community producers, including artists. educators and
access specialists to support our engagement work. Their work means we rAn support partiGipanls to
engage wSth our workshops in a safe. positive and supportive environment.
Support In Klnd
The charity has Continued to provide spaces in klnd to charitable organisations and Gommunity groups
within the communlty. Some of the community-servlng groups supported included.. South Hams
Community Action, Dartmouth Caring and the NHS lo support local social prescribing clients., Devon
Cares, a charity providing support services for unpaid carers," South Hams Family Hub (Action for
Children), 8UPPOrting families with Special Educallonal Needs and Disabilities and Neurodiverse
children., Men's Growth Gioup, supporting men's menlal health and wellbeing. We offered 62 free
r¢x)m booklngs and a lotsl of 186 hours of fre8 room hlre.
Space Hlio - H￿ted at Harbour Hou8•
In addition, we provide spac85 for hire for xtivitle8 such as movement, dance, yoga, art classes and
¢ounselling and commercial activities such as auction valuations. The income generated from space
hiws goes lo support our free engagement workshops for community members who face the greatest
barriers to accessing art and movement aclivllles and those experiencing soclal isolatson.
When comblned, these Slrands of 8Ctivlty have added up to 36,958 total visits lo Harbour House for
this period.
Fundralslng
The charity Gomplles with fiJndraising regulations ar￿ no complaints were received in the perlod.
Granl Fundlno
The perlod Covered by thls report saw the charity's first ever successes with grant fvnding, We're
gratefvl lor every pound that supports our mlsslon. For thi8 period, we welved..
£19,880 frcm The National Lottery Community Fund, £1,240 from Activities 115 and £1,000 from
Gibbons Family Trust.
Bala Brook
Bala Brook was sold al au¢l￿n on 13 November 2025, 98neraling gross sale proceeds of £1.5 million
before associated costs. In recent years, the charity ha5 liquidated p￿vIouslY held investment assets
In order to meet its operating expenditure. The net proceeds from the sale have therefore been
retsined as cash while the Iruslees conslder the most appropriate inveslm8nl strategy for the fvnds,
wilh Ihe aim of securing the charity's long-temi financial sustainability.
Governance
During this period, a new co-chair joined the board of trustees - Hannah Firth, Di￿10r of Chapter Arts
in Cardiff. Hannah bring5 with her a wealth of experience as a trustee for arts charities such as Heart
of Glass as well as many years of experlence in running a mullipurp05e art ¢entre and an expertise in
arts management and EDI.
Nick Grodhunce, Rachel Harrington and Cat Bagg stepped down during this period, and we would like
to thank them for their service and support. Special thanks go to Nigel Uewellyn who stepped down
as Chair during the year.
Page 5

Harbour House Trust
Trustees, Report
Staff and r•8ourGlng
Amy Dickson, a former Senior Curator at Tale and Managing Curator of Artlst Rooms as well as
senior yoga teacher continues a5 CEO of the charity and the DiTector of Harbour House. To enable us
to deliver on our charitable objectives and engagement with our community, durin9 the reporting
period engagement specialist Dr Beth Richards ¢onlinued as Leaming and Engagement Curator with
Elalne Sinclair as Assistsnl Curator and Communications Officer. We also worked with a team of
Front of House hosts who offer a w8mi welcome and creative inslght. Their role is to welcome visitors
and to support thern In their engagement wllh the Grealive programme, as well a8 invyilaling the
gallery.
FINANCIAL REVIEW
Total Income during the per￿1 w8s £194,82212024'. £230,079) and expenditure was £586,62712024'.
£520,834).
The ITUStees are cognisant that over recent years the charity has run al a deflcil. Thls is due to
number of fa¢tors- for example, income from the passive hire of spaces at Harbour House and Bala
Brook was previously supplemented by five- or six-figure dividends from the sha￿$ held In C&J Clark
Limited. but in reGent years no dividends hav8 been paid. In the prevlous financial year, the trustees
acknowledged that they would need to adopt a temporary strategy of running a deficit budget, in order
to invest in supporting the charity through a transition period. This transition involves pivoting the
business model to running more proactive charitable 8clivilies. which deliver broader and more
demonstrable publiG benefit, and for which grants 8nd philanthropic Income could be secured once
track record of delivering such work is established.
During this reporting perfvjd the trustees agreed to continue with this approach and approved a
planned op8raling deficrt and carrled out a thorough organisational review with the board of Iruslees
and consultant Mark Cotton (former Senior Head of Regions for the National Lottery Community
Fund). This defi'cit was mel through a planned drawdown of capital as well as income from the
charlty's Investment portfolio at Brewln Dolphin. Following th8 review, B818 Brook was sold at auction
on 13 November 2025, generating gross sale proceeds of £1.5 million before associated costs. In
recent years, the charity has liquldaled previously held Investment assets in order lo me8t ils
operating expendblure. The net proceeds from the sale have therefore been retained as ￿$h while the
Iruslees consider the most appropriate investment strategy for the funds, with the alm of securing the
charity's long-lerm financial suslainabS1ity.
Subsequent to thls ￿porting period, the trustees and CEO are exploring all options to align the
organisation around a business m¢)Jel that can b8 financially sustainable for the future and chart 8
realistic path to closing the deficit over the next three financial years. This includes Income generated
via fundraising activity and a diversificatson of income St￿a￿S.
Investment pollcy and obJocllvo8
During Ihis reporting period, after taking advice from ils investment manager, the charity liquidated its
investment in a diversified portfolio with Brewin Dolphin. Originally, the objective for these investments
was to maintain the real value of the funds in line with inflation and to generate income for the charity
which could replace the dividends previously received from the C&J Clark Limited 3hare5. Given the
need to manage a planned operats'ng deficit, the trustees approved the liquidation of the asset in
November 2024.
Reserves pollcy
Restricted reserves at 5 April 2025 totsl £12,316 {2024'. £nil} alld represent the balance of unspent
funds for one community engagement proje¢t- Mindful Making.
Page 6

Harbour House Trust
Trustees, Report
Unrestricted reserves at 5 April 2025 total £3,510.58412024.' £3,878,789),
Within these unrestricted reserves, there are substantial reserves held as fixed assets and Investment
properties, totalling £2,825,997 12024.. £3,814,024) at 5 April 2025. These are required by the charity
in order to continue its charitable activits'es. Bala Brook and Harbour House provide the facilities by
which the charity offers to the public and the rental properties generate income which the charity uses
to further its charitable purposes and subsidise its other work. Subsequent to this report Bala Brook
has been sold and the trustees are considering how best lo Invest the monies r8ised from the sale.
A5 at S Aprll 2025, the charity held fre8 r858rves of £684,587 {2024'. £64,765). The trustees are also
actively consSderSng what conslilutes an appropriate reserves policy for the charity, given the need lo
invest in the transltlon twards a sustainable buslness mod81.
Golng concom
The Irusle8s consider the chanty to be a going concern for al least 12 months Irom the date of
approval of the financial ststements.
FUTURE PLANS
Upcoming highllghls of the fvture gallery programmè include the first solo exhibition of celebrated
painter Jal Chuhan in the South Wesl, a largè ouléoor performance of Murghal Miniatures by award
winning Sonia Sabri dance company, the first of its kind in the South Hams and a series of Kathak
dance workshops for the community a5 part ol Kingsbridge Fair Week. A new collaboration wlh
Kingsbrfdge Foodbank and Kingsbridge Primary school will see Harbour House providlng a holiday
club for families in need and will culminate in a c0-¢￿ated exhibits'on with young people and the South
West-ba5ed artist Ben Sanderson. We will host the first solo exhibition by Plymouth-based artist
Ashanti Hare, with a new commis510ll SUPPOrted by the Henry Moore Foundation. We will deliver
photography workshops for adults with learning differences and disabilllle$ in partnership with local
charity Activities 115 and will support them to deliver family portraits for the community as part of the
Kingsbridge Celebrates Christmas celebrations. We will work with Learn Devon and adults with Ilved
experience of learning differences and disabilities to write accessible Easy Read gukles for all our
exhibitions. A Grief Gathering in partnership with Thrive Dance company and supported by the
National Lottery Community Fund and Arts Council England will support those In our community
experienclng grief. We have received fundlng from Arts Council England to deliver..
Ceramics workshops wlth artist Cylena Symonds. a qualified art therapist which will support
those aged 55+ through the five ways to wellbeing
A partnership wllh Next Steps Together and Tumbly Hlll Wellbeing Hub will dellver dan￿,
yoga and making insplred by nature for those aged $5+
Six Moving Together workshops wlh dance practib'oner Charlie Eaton with participants from
the Leaming Disabled community
Six Making Together workshops With the $8me community with a visual arts practitioner
Six Mindful Movement workshops with drama psychotherapist Natasha Broomfield workSng
with social prescribing cllents
Six Mindful Maklng workshops with arts PSyGhother8PiSt Laura Se9an and the s8me
community.
The st8ff team and board of trustees are In the process of writing a new business plan to enable the
charity to become financially sustainable.
Page 7

Harbour House Trust
Trustees. Report
Structure, governance and managomont
Governlng documont
The charity is govemed by its constitution dated 8 May 2018.
R¢crultment and appoinlment of new tru¥te
New trustees can be appointed by a resolution passed al a meeting of charity twstees. In Selec￿ng
Individuals for appointment as Charity trustees, the charity trustees have regard to the skllls.
knowledge and experiènce needed for the effective adminislrabon of the CIO.
New trustees are Inducted into the workings of the charlty during meetlngs held on a regular basls.
Organl8ltlonal 8tructuro
Overall responsibility for th8 management of the ¢harity16 vested In the trustees.
The charity Is being managed on a day-to-day basis by Amy Dickson 8nd the staff team. The trustees
play an acllve role, particulat1y through the new subcommittees.
The ch8rity holds quarterly trustee meetings throughoul the year, ￿th addllion81 subcommlllee
meetings 8s and when required. These meetings are organised by the Iruslees to eontlnue with the
work necessary to maintain the objects of the charfty.
All trustees give of their time freely and no trustee remuneration was paid in the year.
Govornanc• 8tstom•nl
The trustees have had due regard lo principles of ￿¢0MMended practices as set out by the "Charlty
Govemance Code" and have applied these wherever practical and in decision making.
Page 8

Harbour House Trust
Trustees. Report
Statement of tru8tee8' re8ponsibllitl8S
The trustees {who are also the direelors of Harbouf House Trust for the purposes of company lawl are
responsible for preparing the trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards {United Kingdom Generally Arxepted
Accounting Praclicel, including FRS 102 "The Financial Reportlng Stsndard applicable in the UK and
Republic of Ireland"
Company law requires the trustees to prepare financial stalements for each financial year. Under
company law the INstees must not approve the financial stalements unless they are satisfied that
they give a true and fair vlew of the stale of affairs of the Gharitable company and of the incoming
resources 8nd applicatlon of resources. including Its income and expenditure, of the charitable
company for that perfod. In preparing these financial statements, the trust8es are requlred to..
s&lect suitsble accounting policies and apply them consistenuy.,
observe the methods and pdnciples in the Charities SORP..
make Jud9em8nt5 and estimates thal are reasonable and prudent.,
state whether appllcable accounting standards. comprising FRS 102 have been followed. subject
lo any material departures disclosed and explalned in the financial statements,. and
prepare the financial statements on the going ¢oncem bas15 unless It Is inappropriate to presume
that the charitable company will continue in business.
The trustees are ￿SponsIble for keeplng proper accounllng records th8t can dSsc108e with reasonablg
accuracy at any time the flnancial position of the charllable Company and enable them to ensure that
the financial stalemenls comply with the Companies Act 2006. They are also responsible for
safeguardlng the assets of the charitable company and hence for taking reasonable steps for the
prevention and dete¢tion of fraud and other irregularflies.
The trustees are responsible for the maintenance and Integrity of the corporate and financial
Infomialion Included on the ch8rilable company's website. Legislation governlng the preparation and
dissemlnation of financial statements may dlffer from legislation in other juri5di¢tions.
The annual reFX)rt was approved by the trustees of the charity on 21 January 2026 and Signed on Its
behalf by..
A M Bennett
Trustee
HLFirth
Trustee
Page g

Harbour House Trust
Independent ExamlneVs Report to the trustaos of Harbour House Trust {'the
Company.)
I ￿port to the charity tsuslee$ on my examination of the accounts of the Company for the year ended
5 April 2025.
R8spoThslbllltle8 and b•818 of report
As the charity's trustees of the Company {and also Ils directors for the purposes of company law) you
are responsible for the preparation of the accounts in accordance with the ￿quIrernents of the
Companies Act 2006 {'the 2006 A¢r}.
Having satisfied myself that the accounts of the Company are nol required to be audited under Part
16 of the 2006 Act and are eligible for Independent examination, I report in respect of my examination
of your charity's accounts as ¢arried out under section 145 of the Charities Act 2011 I'lhe 2011 Act'l.
In carrying out my examination I have followed th8 Directsons gwen by the Charity Commission under
section 14515llbl of the 2011 Act
Indepondent examlnor'8 8tAtemonl
I have Completed my examination. I conffim that no matters have come to my atlentlon in conne￿10n
with the examlnallon giving me ¢8use to belleve..
1. accounting records were not kept in respect of Harbour Hou8e Trust as required by section 386
of the 2008 Act, or
2. the ac¢ount5 do not accord with thos8 records,. or
3. the a¢¢ounls do not comply wth the ae¢ounting requirements of section 396 of the 2006 Act
other than any rèquirement that the ae¢ountS give a 'tru8 and fair view, which is not a matter
considered as part of an independent examination., or
4. the accounts have not been prepared in accordance wilh the methods and principles of the
Statement of Recommended Practice for 8ccountlng and reporting by charities lappllcable to
charities preparing Ihelr accounts in accordance with the Flnancial Reporb'n9 Standard
appllcable in th& UK and Republic of Ireland IFRS 102}1.
I have no concems and have come across no other matters In Conne￿10n wlth the examlnallon to
which attention should be drawn In this report In order to enabl8 a proper understanding of the
accounts to be reached.
am Croney ACA
Independent Examiner
Westcotts ISWI LLP
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT
Date..
Page 10

Harbour House Trust
Statsment of Flnanclal Activities for the Year Ended S April 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unre$trl¢ted
funds
Restrlctod
funds
Total
2025
Total
2024
Incorno and Endowments from:
Donations and legacies
Charitable activlties
Investment incom&
2.976
131,502
38.224
22,120
25.096
131,502
38,224
3,321
169,025
57.733
Total income
172 702
22,120
194822
230,079
Expendlture on:
Raisin9 fund$
Charitable ￿tl￿ties
18,857)
567.966
18,857)
577,770
19,819)
511015
9,804
Total expenditure
Nel18xpenditure)Ilncome
Other rncognlsed galn8
nd lo¥¥
Gainslllosses} on
revaluation of fixed a5s81s
576 823
9.804
586,627
1404,121}
12,316
{391,805)
1290,7551
35.S16
35,916
89,772
Net movement in fund8
1368,205}
12,316
1355,8891
1200,9831
R•conclllatlon of lund8
Total fund5 brought foNard
Total funds carried forward 17
3.878.789
3 878,789
3 522,900
4.079,772
3,878,789
3,510.584
12,316
All of the Charlty's actlvities derive from conllnuing op9ralions during the abov& perths.
The funds breakdown for 2024 is shown in note 17.
The notes on pages 14 to 24 foTh an integral part of these financial statements.
Page 11

Harbour Houso Trust
(Registration number: CE014033}
Balancg Sheet as at S Aprll 2025
2025
2024
Nots
Fixed a888ts
Intangible assets
Tangible a55ets
Investments
12
13
14
6,204
1,730,18S
1,120,168
2 856.557
1,509
1.718,305
2,115,512
3,835,326
Current auols
Debtors
Cash at bank and in hand
15
85,091
749,699
171.339
834.790
256,175
212 712
Cr•dltorn: Amount• falllng duo wlthln ono y•ar
Not curront assgts
16
168,447
666,343
43,463
3,522,900
3,878,789
Fund8 of th• charlty:
Rmtrlcted Incorn• fund•
ReslAcled funds
12,316
Unreslrlcted Incomo fund8
Unrèstricted funds
3,510,584
3,522.900
3,878,789
Totsl fund•
17
3,878,789
We, as dir8Ctors of Harbour House Trust. state th8t'.
{al the charitable company Is availing itself of the exempllon provlded for ty Chapter 15 of Part 6 01
the Companles Act 2014.,
(bl the charitable company Is availing Itself of the exemption on the 9rounds that the ¢onditions
specified in section 359 are satisfied.,
(cl no nolrce under subsection 11) of sects'on 334 has, In accordance ¥￿th 8ubgection 121 of that
section. been served on the charitable company;
Id) we acknowledge the charitable company's obligations under the Companies Act 2014 lo keep
adequate accounting records and prepare financial statements which give a true and fair vlew of the
assets. liabilities and financial position of the charitable company al the end of ils finanaal year and of
ils profit or loss for such a year, and othewise comply wth the provisions of Companies kt 2014
relating to financial statements so far as they are applicable to the charitable company.
The notes on page$ 14 to 24 form an integral p8rt of these financial statements.
Pag8 12

Harbour Hou8• Trust
(Registrat5on number: CE014033>
Balance Sheet as at 5 April 2025
The financial statements on pages 11 10 24 were approved by the trustees. and authorised for issue
on 21 January 2026 and signed on their behalf by..
A M Bennett
Trustee
HLFlrth
Trustee
The notes on pages 14 to 24 form an integral part of these financial statements.
Page 13

Harbour House Trust
Notes to the Flnancial Statements for tho Yaar Endod 5 April 2025
1 Charlty Gtstus
The charity 15 a Charitable Incorporated Organisation ICIOI.
The address of its registered office is..
Harbour House
The Promenade
Kingsbridge
Devon
TQ7 1JD
2 Accountlng poll¢lo8
Statofflent of compllanca
The fi'nancial slalements of the CIO. which is 8 publ6c benefit enlity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charitie5.'
Statement of R￿Mmended Practice applicable to charllles p￿paring their accounts in accordance
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)
leffe¢live 1 January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011.
Ba818 01 preparatlon
The financial statements have been prepared under the historical cost convenllon wSlh the exceptlon
of investments which arg in¢luded al market value, as modified by the revaluation of certain assets.
Income
All income is recognlsed In the Statement of Financial Activities once the charity has enllttement to the
funds, it is probable that the income will be received and the amount can be measured reliably,
Donatlons and legacles
Monetary donations lo the Trust are credlted In the accounts on a receipts basis.
Grants recolvablo
Grants are recognised when the Chartty has an entitlement to the funds and any conditions Ilnked lo
the grants have been met. Where performance conditions are attached to the granl and are yet to be
mel, the income is recognised as a liability and included on the balance sheet as deferred Income lo
be released.
Inv•stment income
Divid8nd income is recognised in the a¢counts on a receivable basis. interest income is recognised In
the xcounts when il is received and income from investment properties is calculated on the accruals
ba$i$.
Page 14

Harbour House Trust
Notes to the Flnancial Statements for the Year Ended 5 April 2025
Expendlture
Liabil￿@S are recognised as expenditure as soon as there is a legal or con51ruGtive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits will
required in settlement and the amount of the obligation can be measured reliably. Expenditure is
accounted for on an accruals basis and has been classified under headings that aggregate all cost
related to the category. Where costs cannot be directly attributed to parb'cular headin9S they have
been allocated to activities on a basis consistent with the use ol resources.
Charttable a¢tlvltle8
Costs of charitable activities inclLKles premises costs in respect of Bala Brook and Harbour House.
Intsnglble a88ets
Intangible assets. belng costs incurred In relatlon lo a website, are belng amort15ed evenly over Iheir
eslimaled useful lrfe of five years.
Tanglbl8 flx8d a8sets
Depreciation Is provlded al the followlng annu81 rates in order to write off each asset over its
eslimaled useful life.
AsGet class
Freehold property
Fixtures and fittlngs
Computer equipment
Plant and machinery
Doproclotlon m•thod and rats
2% on slraighl line
25./0 on r8ducin9 balance
25% on reducing balance
250k on reducing balance
Inveotment property
Investment property Is shown at market value. Any aggr8gate surplus or deficits arlsing from change8
In market value are transferred to Ihe slatement of financial activtties.
Taxatlon
The charity is exernpt from corporation tsx on Its charitable activities.
Fund aceountlng
Unrestricted funds can be used in accordance with the charitsble obJects'v8s al the discretion of the
trustees.
Restricted fund$ can only be used for particular reslrScted purposes wthin the objerls of the charity.
Restrictions arlse when specified by the donor or when funds are raised for pa￿'cUlar ￿$trIcted
purposes.
Further explanation of the nalure and purpose of each fund is included in the notes to the financial
statements.
Designaled funds are unrestricted funds set aslde for specific purposes at the discretion of the
trustees.
Restricted incorn8 fvnd5 are those donated for use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Page 15

Harbour House Trust
Notes to the Financial Statements for tho Yoar Ended 5 April 2025
Penslons and other post rotiroment obligations
The charity operates a defined contribution penslon scheme. Contributions payable to the charitls
pension scheme are charged to the Statement of Financial Activities in the period lo wh￿h th8y relate.
Flnan¢ial Instruments
cla￿mIG8tI0n
The charity only has financial assets and financial Ilabllltles of a kind that qualify as basic financlal
instruments
Ra¢ognltlon and m••suroment
Debtors S￿ initially measured al trdnsa¢tSon value and subsequently measured al thwr setuement
value.
Credltors and provIs￿nS are recognised where the charity has a present obligaty'on rosulting fTom 8
pasl event that will probably result in the transfer of funds lo a third paty and the amount due to 5ellle
the obligab'on can be measured reliably. Creditors and provisions are initially measured at transaction
value and subsoquently measured at thelr selllem8nl value.
Flxed 086•t Investments
Investments are a form of basic financlal instrument and are Initlalty ￿cognISed at their transaction
value and subsequently measuw at their fair value as at the balance sheet da18 Using the closing
quoted market prloe of Sha￿ price. The statement of financial activities in¢lude5 the net gains and
losses arising on revaluation and disposals throughout the year.
3 Invo•tmont Incom•
2025
2024
Deposit account Interest
Rents received
Divldend income
5,280
32,944
122
33,472
24.139
38,224
57,733
4 Income from charltable actlvltle8
Total
2025
Total
2024
Charitable incom&- Harbour House
Charitable Income - Bala Brook
33,745
97,757
39.524
129,501
169.025
131,502
Page 16

Harbour House Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
6 Expgndituro on raising funds
91 Investment management costs
Total
2026
Total
2024
Other investment management costs;
Administration of the investments
8.857
9,819
6 Expendlturfr on charlt•ble actlvltlos
Unro•lrlctod fund• R•8trlcted
D•8lgn•tod
General
funds
Totsl
2025
Totsl
2024
Not•
Harbour House
Bala Brook
Govemance costs
21,956
358
347.324
192,675
5,653
9.804
379,084
193,033
321,023
170,729
22.314
545,652
577 770
511015
7 Anaty8i• of gov•rnanc• and Support coots
Communlty arts and wo11 bolng
2025
2024
Independent examlner fees
Examination of the financial statements
Other fees paid to examiners
Management
4.800
853
6,460
11,269
Page 17

Harbour Houso Trust
Notes to the Financial Ststements for the Year Ended S April 2025
8 Net Incomingloutgolng TesourGeB
Net outgoing resources for the year include..
2025
2024
Depreciab'on of fixed assets
Computer softsvare amortisalion
28,540
1,551
26,842
906
g TfUStae8 r6munoration and •xp•n••s
During the year the charity made the lollowing Iran$￿tIOnS wllh trustees..
£50312024.. £275) of exp8nses were reimbursed lo trustees for board meeting travel costs.
No Irustees, nor any persons connectsd w61h th8m, have recelved any remunerallon from the charlty
during the year.
No trustees have r￿e1Ved any other beneflts from the charity during the yeai.
10 Staff costs
The aggregate payroll costs were as follows:
Total
2025
Total
2024
Harbour House-wages
Harbouf House - pensions
8818 Brook - wages
8ala Brook - p8nsions
157,746
9,169
78,920
4,256
250,091
149,917
7,261
60,705
3.075
220,958
The monthly average number of persons (Includlng senlor management I leadershlp team) employed
by the charity during the year was as follows.
2025
2024
No
11
Employees
19
Contribution8 to the employee pension scheffes for the year totalled £13,425 {2024- £10.336).
The number of employees whose emoluments fell within the following band5 was:
2025
No
£70,001 - £80,000
Page 18

Harbour House Trust
Notss to the Flnancial Statements for the Year Ended 5 April 2025
The total employee benefits of the key management personnel of the charity were £76,023, no
remunerats'on over £60,000 was paid last year. but senior stsff have undertaken more hours In the
cuThenl financial year.
11 Indepgndenl examlnerf8 remunerntlon
2025
2024
Examlnalon of the financial $18tements
4,800
6,460
Other fees to •x•mlnor8
All other assurance servlces
All other seNices
1.199
10,070
11,269
853
853
12 Intanglbl• flx•d a880ts
Computsr
Softwaro
Tot•1
C￿t
Al 6 April 2024
Additions
Disposals
Al 5 Aprfl 2025
4.528
4.515
4,528
4,515
7.755
7.755
Amortl•atlon
Al 6 April 2024
Charge for the year
Eliminated on disposals
3,019
1,551
3,019
3,019
1,551
3.019
At 5 April 2025
Not book valu•
At 5 April 2025
At 5 April 2024
6,204
6.204
1,509
Page 19

Harbour House Trust
Notes to the Flnanclal Statements for the Yoar Ended 5 April 2025
13 Tanglble flxed 088Ot8
Freehold
Flxture8
property and fittlng8
Total
C08t
At 6 April 2024
Additlons
1,811,153
29,631
43.221 1,854,374
10.788
40,419
Al 5 April 2025
1,840,784
54,009 1,894.793
D•proclatlon
At 6 April 2024
Charge for year
At 5 AprS12025
Net book valu•
112,641
22,314
23,427
6.226
136,068
28.540
Al 5 Aprfl 2025
At 5 April 2024
1,705,829
24,356 1730,185
1698,512
19 794 1718,306
Page 20

Harbour House Trust
Notss to the Flnancial Ststsments for the Year Ended 5 April 2025
14 Flxed asset Investments
2025
2024
Inv8slment propertles
Unlisted investments
Listed Investments
520,000
600,168
520,t))O
600,168
995,344
2.115512
1,120,168
There were no Investment assets outside the UK.
Th8 unlisted Inveslrnents consist of 304,654 ordinary £1 shares In C & J Clark Limited. These Shares
were valued al 4 August 2023 at a price of £1.97 per share, and il is this value which has been used
for the purposes of these accounts, being the nearest available v8lu8tion to the balanc8 sheet date.
Invo8tm&nt property
Investment
property
Falr value
Al 6 April 2024
520 000
Provl$lon
At 5 April 2025
N•t ljook valuo
At 5 April 2025
At 5 April 2024
520 000
520 000
A professional valualon was conducted on 2 November 2022 by Luscombe Maye and confirmed that
the market value of the investment property is £520,000. The historic value of thi5 propety wa8
£415.000 as transferred to Harbour House Trust (formerly The J B Pelly Trust) or$ 31 OGtobor 2018.
Page 21

Harbour House Trust
Notes to the Financial Statemants for the Year Ended 5 April 2025
16 Debtors
2025
2024
Trade debtors
P￿paYments
Other debtors
78,161
5.474
1,456
85,091
167,983
1,901
1,455
171339
16 Crndltorn: amounts falllng dua wlthln one y6ar
2025
2024
Tr8d8 credltors
Other creditors
Accruals
15,343
2,109
150,995
168,447
8,408
1,707
202,597
212.712
Page 22

Harbour House Trust
Notes to the Financial Statements for the Year Ended S April 2025
17 Fund8
Balance
at6
Aprll Incorning Resources
2024 resourcfrs oxpended Transfer8
other
recognised
gain8 1
11088e8
Balance
at6
Aprll
2026
Unrgstrlcted funds
Unrestricted -
operats.ng
64,765
172,702
{554,509) 1,003,358
{1,7291 684,587
D8slgnated
Unreslricled
investments - 8hares
and property
Unre51riGled assets-
property
2,115,S12
{1,032.9891
37,645 1,120,168
1698.512
22.314
29,631
11.003,358
1 705,829
3 814.024
22.314
37 645 2,825,997
Total unr•8trlct
fund•
3.878 789
172 702
576,823
35 916 3,510,584
R98trlctod funds
National Lottery
Mindful Making
Moving Together
project
Gibbons Famlly Trust
19,880
17,564)
12,318
1,240
(1.2401
1,000
22,120
Totsl fund8
3 878 789
194,822
586.627
35 918 3,522 900
Balan¢0
at6
Aprll Incomlng Rosources
2023 re•ource8 expended Tran8fer8
Other
rncognlsed
galns I
1108S08}
Balance
Aprll
2024
Unreslrlcted funds
Unrestricted -
operatlng
4,079,772
230.079
431,C62
3,878,789
Page 23

Harbour House Trust
Note8 to the Financlal Statements for the Year Ended 5 April 2025
18 Related party transactlons
During the year the charity madè the followiThJ related party transactions..
A trustee, R Harrington, donated £2,975 12024: £6001 to thè trust through a payroll giving scheme.
There were no other related paty transactlons this year.
{2024 - £Nill.
19 Non4dlu•tlng ovent• aftor the flnanclal p•rlod
Bala Brook was sold at aucfjon on 13 November 2025, generating gross sale proceeds of £1.5 million
before a$S￿￿ted costs. In recent years, the charrty has l*]uidaled previously held investment assets
in order lo meet its operating expenditure. The nel proceeds from the sale have therefor8 been
retained as cash whlle the trustees consider the most appfopfiate investment strategy for the funds,
wlth the aim of securlng the charty's long-lemi financiel sustsinability.
Page 24