TRUSTEES ANNUAL REPORT
Year Ending 31[st] December 2024
A registered charity (no. 1191064) in England & Wales
Devon Business & Education Centre, Lower Tale, Payhembury, Honiton, Devon, EX14 3HL
Trustees: Mr Christopher Lorimer (appointed 20.08.20), Mrs Sandra Wright (appointed 25.08.20), Miss Jodie Iles (appointed 03.03.22), Miss Lucy Lorimer (appointed 11.04.23), Sue Shelbourne (04.07.24), David Law (04.07.24)
Structure Governance and Management
Devon Business & Education Trust (DBET) was formed on the 28[th] August 2020 as a Charitable Incorporated Organisation (CIO) as a response to the COVID pandemic and its impact on rural areas. The Charity has a constitution, dated the 28[th] August 2020, that articulates operational boundaries, the aims and objectives and the responsibilities of the Trustees.
The objectives of the CIO remain unchanged and are primarily focused on 1. The relief of unemployment 2. Promoting education and training 3. Supporting people with mental health issues 4. Providing relief to families and their relationships 5. Supporting those who are socially excluded.
In 2024 the Trustees met five times (February, April, July, October, and December) with some members engaging online. Within those meetings there were some key decisions, including:
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Overseeing financial performance of the Charity, agreeing the accounts, the accountancy arrangements and the formal submission of documents to the Charity Commission
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Agreeing policies in line with the policy review cycle
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Confirming the findings of the Educational Support Review conducted by Amelia Shaw of the University of Exeter
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Confirming the use of funds obtained through grant bequests and donations
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• Overseeing the operation of ongoing programmes (including Educational Support Programme, Growing Communities Fund “Time Together “ Programme)
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Receiving a report from the Project Manager of the Time Together Programme
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• The appointment of new Trustees (David Law and Sue Shelbourne)
All actions are recorded and agreed, with decisions made by a majority vote. Trustees are made aware of their responsibilities through Charity Commission circulars.
All potential or actual conflicts of interest were declared.
Financial Review
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The trust received £22,021 in income during the year to 31[st] December 2024, with the majority of this (£18,900) coming in the form of grant income, including an Awards for All National Lottery grant of £11,700 to support the expansion of the Time Together programme. In addition, there was £2,177 of donation income and a Gift Aid receipt of £881.
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The income received has enabled £3,165 of grants for tutoring for those who would otherwise have been unable to afford it. £5,700 was spent directly on the Time Together project. No trustee expenses were reimbursed.
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The charity has no debts and does not hold any funds as a custodian trustee (see statement below).
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The trust’s reserves policy states its intention to hold £1,200 in reserves at any given time, which would cover 3 month’s worth of ongoing costs. In addition, £400 is to be held in order to cover the costs of closing down the charity if that became necessary.
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The charity’s finances are reviewed at each meeting of the Trustees.
Funds Held as Custodian Trustee on Behalf of Others
The Charity does not act as a custodian trustee.
Public Benefit Statement
The Trustees have reviewed the activities of the Charity and are able to confirm that they deliver significant public benefit, complying with the Charity Commission’s public benefit guidance.
The Trustees confirm that they have complied with their duty in the Charities Act 2011 by having referred to the public benefit guidance published by the Charity Commission.
Objectives & Activities
The Charity’s key objectives are:
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to support unemployed people or those seeking to achieve self-employment
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to provide educational support
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to promote and provide interventions that assist in improving individuals’ mental health
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to support people who are socially excluded
These objectives are set out in detail within the Charity’s constitution.
Achievements & Performance
Over 2024, the Charity has achieved a number of key activities:
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Disburse £3,165 in educational support to 8 individuals with wide-ranging educational needs (including low confidence and self-esteem, dyslexia, dyscalculia, autism, memory and concentration deficits and limited English). This support has proved life changing for many of the young people receiving support. The University of Exeter report, prepared by intern, Amelia Short, interviewed a number of grant recipients who confirmed that the programme was highly impactful.
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Delivered the popular Time Together Programme, which now has a lunch and a tea each month to accommodate increased numbers of in the region of 25 regular attendees. The programme is looking to continue to expand its activity over 2025 with support from a new Volunteer and Transport co-ordinator and additional volunteers to provide support to participants between events. The increased demand for support has resulted in part through the partnership with Care With Kindness Limited, a domiciliary care company that co-locates with DBET at Devon Business & Education Centre.
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The financial position of the Charity has been improved through more effective engagement with donors through the Time Together programme and the targeting of grants that support the Charity’s objectives. The successful application to Awards for All National Lottery will be critical in supporting the Time Together programme.
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Increased Trustee numbers by two to ensure continued oversight. Trustees now have even better financial information that allows them to track restricted funds.
RECEIPTS AND PAYMENTS ACCOUNTS
for
The Year From 1[st] January 2024 to 31[st] December 2024
Charitable Incorporated Organisation Registered No. 1191064
RECEIPTS AND PAYMENTS ACCOUNTS
RECEIPTS AND PAYMENTS
| Unrestricted Funds |
Restricted Funds |
Total Funds 31 Dec 2024 |
Total Funds 31 Dec 2023 |
|
|---|---|---|---|---|
| Receipts | ||||
| Donations | £1,000 | £1,177 | £2,177 | £1,245 |
| Grants | £18,900 | £18,900 | £5,654 | |
| Gift Aid Claims | £881 | £881 | - | |
| Bank Interest | £63 | £63 | £54 | |
| Other | £250 | |||
| Total Receipts | £1,944 | £20,077 | £22,021 | £7,203 |
| Payments | ||||
| Grant for Tutoring | £3,165 | £3,165 | £1,947 | |
| IT and Website Costs | £295 | £295 | ||
| Insurance | £146 | £146 | £146 | |
| Advertising/Fundraising | £162 | |||
| Trustee Expenses | ||||
| Sundry | £38 | £38 | £71 | |
| Cost of Beneficiary Event |
£3,915 | £3,915 | £3,902 | |
| Payment to Project Manager |
£1,785 | £1,785 | £2,220 | |
| Payment to Interns | £133 | £133 | £2,044 | |
| PAYE/NI | ||||
| Professional Fees | £362 | |||
| Total Payments | £612 | £8,865 | £9,477 | £10,854 |
| Net of Receipts/(Payments) |
£1,332 | £11,212 | £12,544 | -£3,651 |
| Transfers Between Funds |
- | - | - | - |
| Cash Funds Last Year End |
£7,105 | -£2,016 | £5,089 | £8741 |
| Cash Funds This Year End |
£8,437 | £9,196 | £17,633 | £5,090 |
STATEMENT OF ASSETS AND LIABILITIES AT THE END OF THE PERIOD
| Unrestricted Funds |
Restricted Funds |
Total Funds 31 Dec 2024 |
Total Funds 31 Dec 2023 |
|
|---|---|---|---|---|
| Cash Funds | ||||
| Bank Account | £8,437 | £9,196 | £17,633 | £5,089 |
| Total Cash Funds | £8,437 | £9,196 | £17,633 | £5,089 |
| Other Monetary Assets |
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| Investment Assets | ||||
| Assets Retained for the Charity’s Own Use |
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| Liabilities | ||||
Signed by one or two trustees on behalf of all the trustees:
Signature
Print Name
Chris Lorimer, Chair of Trustees