**REGISTERED COMPANY NUMBER: CE024777 (England and Wales) REGISTERED CHARITY NUMBER: 1193350**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
Seed Sedgemoor
Maxwells Chartered Accountants
4 King Square Bridgwater Somerset TA6 3YF
Seed Sedgemoor
## Contents of the Financial Statements for the Year Ended 31 March 2023
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|4|
|Statement of Financial Activities||5||
|Balance Sheet|6|to|7|
|Notes to the Financial Statements|8|to|15|
|Detailed Statement of Financial Activities||16||
Seed Sedgemoor
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
THE OBJECT OF SEED SEDGEMOOR IS TO CARRY OUT ACTIVITIES WHICH ADVANCE PARTICIPATION IN ARTS, CULTURE AND HERITAGE TO THE BENEFIT OF COMMUNITIES WE WORK WITH. We aim to enable more people in our region to actively engage in the creative arts, particularly those who don't usually do so. We seek to remove barriers to participation, offer opportunities for people to engage with the arts, and for the arts to become a part of their everyday life. We believe everyone is creative and can benefit from opportunities to explore and develop their creativity.
We believe that arts, culture and creativity are not elite activities, but should be an ordinary part of everyday life, created by, with and for the people, responding to their imagination and reflecting the things that are important to the communities of Sedgemoor.
All of the activities undertaken by Seed will contribute to the overall purpose of growing new opportunities for people living or working in Sedgemoor to participate, create and celebrate through creative arts, culture and heritage activities.
We work with a consortium of organisations who represent local communities and stakeholder groups, providing leadership and oversight of our activities, in order to help ensure that our programme is genuinely community led and directed.
Our development methodology comprises four overlapping stages:
Plough - This is our meeting, listening and research phase. We recruit Sowers and Growers from local communities, who take on the joint roles of representing their communities, connecting us to others and advocating for creative arts and culture. We identify what new opportunities communities we work with actually want to see, and work with them to prioritise and ensure the ground is ready for the next phase.
Sow - This is where we catch and store energy. This phase is about inspiration, offering participants the opportunity to share and make the most of the knowledge and skills they will often have in abundance, and providing for the development of new skills and ideas. We commission artists to work with the community in direct response to the needs, issues and interests identified in the plough stage. Sowers and Growers take the lead in assessing the proposals we receive to ensure the commissions address their needs and interests.
Grow - Commissioned activities from the plough stage take root and take on new, sustainable forms. Events may be restaged or even become annual, but they will always evolve and change in response to the communities we partner with as they increase their level of co-creation and ownership of them. In the grow stage we also challenge our artists and community participants to challenge themselves, increase their ambition and strive for the next level, whatever that may be.
Yield - In this final development stage, we will see a realisation of creative arts and cultural life moved to the centre of community life, the learning and legacy created, the social enterprises established and a plan for future sustainability in place. We trust that the cycle can continue without the same level of intervention.
We also Value the Margins where we recognize that many things that contribute to the creative and cultural life of Sedgemoor take place beyond the focus, reach and scope of our activities. Where possible we will contribute to enabling conditions that enable them to thrive and develop further, building capacity and encouraging awareness and engagement with them across the community.
The charity website www.seedsedgemoor.com is regularly updated with our current projects and an archive of past work.
## **Public benefit**
The trustees confirm that they have complied with the requirements of Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 1
Seed Sedgemoor
for the Year Ended 31 March 2023
## Report of the Trustees
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The year ending March 2023 has been Seed Sedgemoor's busiest year to date putting local people at the centre of creating the kind of arts they want to see in their communities. Seed continues to seek out those who have not previously been involved in arts projects, and provides new opportunities to create, participate and celebrate and support Sedgemoor's increasingly creative community. Our 28 projects this year represents a two-fold increase since our beginnings under the auspices of Somerset Film in 2021. These activities reached nearly 7,000 participants and more than 120,000 audience engagements.
Our outdoor live music events saw Clashmob return to Bridgwater and grow into an ongoing participation group. We brought Sounds of the Streets, Jubilee celebrations and the Front Garden Music Festival to various locations across Sedgemoor during the year, each activity bringing music to the doorstep of new audiences.
We asked the question What If? and the people of Sedgemoor provided the responses and worked with our artists to create an exhibition of art and poetry which we installed in advertising spaces including on the side of buildings and local transport. A programme of winter illuminations took the next ambitious step from domestic settings through light parades to high-street displays. We commissioned the Burnham-on-Sea Life mosaic, which is a new permanent landmark enhancing the seawall.
A glowing independent evaluation of Seeds first commissions in Highbridge shows how Seed is enabling more and more people in Sedgemoor to take part in and enjoy the creative arts. Our projects are bringing people together and creating works that are both authentic and ambitious. The Nornen project started as a community generated story and is being developed for the Stage, Blues in the Pews is cementing St Johns Church as an emerging arts hub, Highbridge's Youth Theatre and Art collaborations are stretching the skills and imagination of the next generation of performance artists.
Following consultation events in our second focus area - Cheddar, Axbridge and the Polden Hills, Seed commissioned 8 new community projects that are bringing a creative buzz to the area. These include regular participation groups in activities ranging from working with clay to making theatre or music, as well as high quality professional performances and artworks in unfamiliar locations., with more to follow in 2023-24.
We will also begin shifting our focus towards Bridgwater in the coming year, with a number of exciting activities with new partners already in the planning and research and development stages.
## **FINANCIAL REVIEW**
## **Financial position**
In 2022 the Seed management team secured £377,778 funding for the Creative People and Places programme from Arts Council England until 2025. These accounts reflect year one of a three year programme of activity.
The Seed Sedgemoor lead consortium member Homes in Sedgemoor is the named recipient for these funds. Incoming resources into the CIO were £274,137 of which £273,137 related to unrestricted funds and £1,000 to restricted funds.
Resources expended amounted to £328,137 of which £306,387 was from unrestricted funds and £21,750 from restricted funds. The balance held on general unrestricted funds at the end of the year was £920 and the balance held on designated unrestricted funds was £10,000.
Page 2
Seed Sedgemoor
for the Year Ended 31 March 2023
## Report of the Trustees
## **PLANS FOR FUTURE PERIODS**
## **Aims and key objectives for future periods**
The charity is committed to consolidating its delivery in key areas and to growing engagement and audiences in Sedgemoor. To do this, we need to not only extend our reach but maintain the quality and depth of engagement in our work.
As an action research project, this will require us to simultaneously focus on continuing our community consultation work and delivering projects in response to our findings, while we review, evaluate and learn from those experiences.
## We will continue to deliver these five programmes of activity:
## Hub Development
We will work simultaneously in five hub areas in the coming year.
Highbridge will consolidate its position through the Grow phase, with a group called the Highbridge Arts Collective forming from the artists, community organisers and Sowers and Growers active in the area taking an increasingly autonomous role in planning and delivering activities.
Cheddar, Axbridge and the Polden Villages will complete their Sow Phase and start to move into the Grow phase in the second half of the year with a second round of commissions to be undertaken.
In Bridgwater we will begin with the Plough phase prior to preparing for expressions of interest for Sow Commissions to be undertaken near the end of the financial year. this will include establishing base line participation levels through quantitative research and recruiting Bridgwater based Sowers and Growers.
## Grass Roots Programme
We will undertake our action research activities in Bridgwater including Creative Accelerator sessions and our 2023 Town Hall meeting which took place in Bridgwater in March. We have undertaken a Bridgwater wide survey to gauge the level of current cultural engagement in Bridgwater. We will release a report underpinning our direction in Bridgwater. This will feed directly into new activities in the area across 2023 and 2024.
Our covid-19 delayed Go See/Come Try programme will be finalised and rolled out this year. We will also begin to identify the key contacts and community partners in the new areas of focus for 2024-5.
## Green Shoots Programme
We are thrilled to be providing the venue for the 2024 National Creative People and Places Gathering in Bridgwater in 2024. We will work to identify opportunities for local artists, Sowers and Growers and other supporters to have a role with developmental outcomes for them.
We will look to build capacity among our local artists and community organisers through a 'Meet the Funders' session, encouraging them to identify and approach funders independent of Seed.
## Tall Timbers Programme
In response to demand from the community, Our Front Garden Music Festival will take place across Sedgemoor again in June 2023. This time around we will move out from pub gardens with an increased focus on larger public spaces and we will further increase the musical and cultural diversity of the programme (including increasing the number and profile female performers), inviting more high-quality artists from outside Sedgemoor to perform. We will expand to new locations and scale up the event in our new focus location of Bridgwater, with a full scale production stage and high quality headline act. Local committees will take the lead role in finalising the programming for venues in their area, and in the more developed locations will take the lead int eh on the ground delivery of the event.
In response to feedback and demand from the community, we will work with Burnham-On-Sea and Highbridge Town Council to identify ways of financially supporting further commissions for the Sea Wall public artwork.
We will scope and develop a High Street Creative Takeover project in response to consultation findings that the loss of places to meet, gather and take part in activities in the Bridgwater High Street is a major issue. We will ensure that at least one very high-quality artist with a national profile takes part in our High Street Popup activity.
## Grass Roots Programme
Page 3
Seed Sedgemoor
## Report of the Trustees
## for the Year Ended 31 March 2023
Those Sow activities in Axbridge, Cheddar and the Polden Villages that are developing into ongoing activities will be considered for a further commission under our Grow phase. This will include activities that will further develop these projects in regards to their viability, sustainability and artistic achievement.
Activities in those locations and in Highbridge already in the Grow phase that have further possibilities for growth and development will be recommissioned where we an identify developmental improvements or ideas to reach new audiences and participants.
Our successful 'Clashmob'/Bridgwater Guitar and Bass group project will continue, with increasing opportunities for development and performance including showcases at Front Garden Music Festival, Quayside Festival and the 2024 National CPP Gathering.
We will build on our successful Creative Conversations project with a new outreach focused co-creation activity targeting loneliness in rural parts of Sedgemoor.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Third party indemnity insurance policy**
The charity maintains a third party indemnity insurance policy for the benefit of the Trustees. The policy was in force during the year and remains in force at the time of approval of this report.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
CE024777 (England and Wales)
## **Registered Charity number**
1193350
## **Registered office**
50 - 52 High Street Bridgwater Somerset TA6 3BL
## **Trustees**
Ms N E McDevitt M J Lerry A Buchanan S Isherwood Miss M R Conibeer (appointed 2.8.22)
## **Bankers**
Co-operative Bank Business Direct PO Box 250 Skelmerdale WN8 6WT
Approved by order of the board of trustees on .....5 December 2023.............and signed on its behalf by:
........................................................................ Ms N E McDevitt - Trustee
Page 4
Seed Sedgemoor
## Statement of Financial Activities
## for the Year Ended 31 March 2023
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**272,582**
Other trading activities
3
**1,555**
**Total**
**274,137**
**EXPENDITURE ON**
**Charitable activities**
4
Project costs
**161,047**
Legal and professional fees
**9,228**
Advertising
**7,897**
Accountancy
**3,613**
Office expenses
**5,909**
Bank charges
**32**
Sundries
**559**
Employment costs
**110,727**
Travel and subsistence
**4,467**
Printing, post and stationery
**47**
Establishment costs
**542**
Subscriptions
**119**
Bookkeeping
**2,050**
Repairs and maintenance
**31**
Depreciation
**116**
Other
**3**
**Total**
**306,387**
**NET INCOME/(EXPENDITURE)**
**(32,250)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**43,170**
**TOTAL FUNDS CARRIED FORWARD**
**10,920**|Restricted
funds
£
**1,000**
**-**
**1,000**
**21,750**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**21,750**
**(20,750)**
**20,750**
**-**|**31.3.23**
**Total**
**funds**
**£**
**273,582**
**1,555**
**275,137**
**182,797**
**9,228**
**7,897**
**3,613**
**5,909**
**32**
**559**
**110,727**
**4,467**
**47**
**542**
**119**
**2,050**
**31**
**116**
**3**
**328,137**
**(53,000)**
**63,920**
**10,920**|31.3.22
Total
funds
£
63,923
-
63,923
-
-
-
-
-
3
-
-
-
-
-
-
-
-
-
-
3
63,920
-
63,920|
|---|---|---|---|
The notes form part of these financial statements
Page 5
Seed Sedgemoor
## Balance Sheet
## 31 March 2023
||||||**31.3.23**|31.3.22|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted||**Total**|Total|
|||funds|funds||**funds**|funds|
||Notes|£|£||**£**|£|
|**FIXED ASSETS**|||||||
|Tangible assets|9|**658**||**-**|**658**|-|
|**CURRENT ASSETS**|||||||
|Debtors|10|**16,878**||**-**|**16,878**|5,117|
|Cash at bank||**21,132**||**-**|**21,132**|58,803|
|**CREDITORS**||**38,010**||**-**|**38,010**|63,920|
|Amounts falling due within one year|11|**(27,748)**||**-**|**(27,748)**|-|
|**NET CURRENT ASSETS**||**10,262**||**-**|**10,262**|63,920|
|**TOTAL ASSETS LESS CURRENT**|||||||
|**LIABILITIES**||**10,920**||**-**|**10,920**|63,920|
|**NET ASSETS**||**10,920**||**-**|**10,920**|63,920|
|**FUNDS**|12||||||
|Unrestricted funds|||||**10,920**|43,170|
|Restricted funds|||||**-**|20,750|
|**TOTAL FUNDS**|||||**10,920**|63,920|
||||||||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
Seed Sedgemoor
## Balance Sheet - continued 31 March 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. N E McDevitt - Trustee
The notes form part of these financial statements
Page 7
Seed Sedgemoor
Notes to the Financial Statements for the Year Ended 31 March 2023
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be 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 particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. DONATIONS AND LEGACIES**
|Donations
Grants|**31.3.23**
**£**
**439**
**273,143**
**273,582**|31.3.22
£
56
63,867
63,923|
|---|---|---|
continued...
Page 8
Seed Sedgemoor
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **2. DONATIONS AND LEGACIES - continued**
Grants received, included in the above, are as follows:
|Burnham-on-Sea & Highbridge Town Council Come Together
Burnham-on-Sea & Highbridge Town Council Seafront Art
Sedgemoor District Council, Clashmob
Bridgwater Town Council, Clashmob
Arts Council England, Creative People and Places via Homes in
Sedgemoor
Somerset Community Fund - Jubilee Events
Sedgemoor District Council
Burnham-on-Sea & Highbridge Town Council
**3.**
**OTHER TRADING ACTIVITIES**
Sponsorships
Participant fees
**4.**
**CHARITABLE ACTIVITIES COSTS**
Project costs
Legal and professional fees
Advertising
Accountancy
Office expenses
Bank charges
Sundries
Employment costs
Travel and subsistence
Printing, post and stationery
Establishment costs
Subscriptions
Bookkeeping
Repairs and maintenance
Depreciation|Direct
Costs
£
**182,797**
**9,228**
**-**
**-**
**5,909**
**32**
**-**
**110,727**
**-**
**47**
**542**
**119**
**-**
**31**
**-**
**309,432**|**31.3.23**
**£**
**-**
**-**
**-**
**1,000**
**249,418**
**10,000**
**12,500**
**225**
**273,143**
**31.3.23**
**£**
**1,500**
**55**
**1,555**
Support
costs (see
note 5)
£
**-**
**-**
**7,897**
**3,613**
**-**
**-**
**559**
**-**
**4,467**
**-**
**-**
**-**
**2,050**
**-**
**116**
**18,702**|31.3.22
£
1,500
17,000
500
1,750
43,117
-
-
-
63,867
31.3.22
£
-
-
-
Totals
£
**182,797**
**9,228**
**7,897**
**3,613**
**5,909**
**32**
**559**
**110,727**
**4,467**
**47**
**542**
**119**
**2,050**
**31**
**116**
**328,134**|
|---|---|---|---|
continued...
Page 9
Seed Sedgemoor
## Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **5. SUPPORT COSTS**
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|Governance|
|costs|
|£|
|Advertising|7,897|
|Accountancy|3,613|
|Sundries|559|
|Travel and subsistence|4,467|
|Bookkeeping|2,050|
|Depreciation|116|
|18,702|
|Support costs, included in the above, are as follows:|
|Travel|
|and|
|Advertising|Accountancy|Sundries|subsistence|
|£|£|£|£|
|Travel and subsistence|-|-|-|4,467|
|-|-|-|
|Advertising|7,897|
|-|-|-|
|Accountancy|3,613|
|-|-|-|-|
|Bookkeeping|
|Sundries|-|-|559|-|
|-|-|-|-|
|Depreciation of tangible fixed assets|
|7,897|3,613|559|4,467|
|31.3.23|31.3.22|
|Total|Total|
|Bookkeeping|Depreciation|activities|activities|
|£|£|£|£|
|Travel and subsistence|-|-|4,467|-|
|-|-|-|
|Advertising|7,897|
|-|-|-|
|Accountancy|3,613|
|-|-|
|Bookkeeping|2,050|2,050|
|Sundries|-|-|559|-|
|Depreciation of tangible fixed assets|-|116|116|-|
|2,050|116|18,702|-|
**----- End of picture text -----**
## **6. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
**----- Start of picture text -----**
|||
|---|---|
|31.3.23|31.3.22|
|£|£|
|116|-|
**----- End of picture text -----**
continued...
Page 10
Seed Sedgemoor
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|Unrestricted|Restricted|Restricted|Total||
|---|---|---|---|---|---|---|
||funds||funds||funds||
||£||£||£||
|**INCOME AND ENDOWMENTS FROM**|||||||
|Donations and legacies|43,173||20,750||63,923||
|**EXPENDITURE ON**|||||||
|**Charitable activities**|||||||
|Bank charges||3||-||3|
|**NET INCOME**|43,170||20,750||63,920||
|**TOTAL FUNDS CARRIED FORWARD**|43,170||20,750||63,920||
|**TANGIBLE FIXED ASSETS**|||||||
|**COST**|||||Fixtures
and
fittings
£||
|Additions|||||**774**||
|**DEPRECIATION**|||||||
|Charge for year|||||**116**||
|**NET BOOK VALUE**|||||||
|At 31 March 2023|||||**658**||
|At 31 March 2022|||||-||
||||||||
## **9. TANGIBLE FIXED ASSETS**
continued...
Page 11
Seed Sedgemoor
## Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|||||**31.3.23**|31.3.22|
|---|---|---|---|---|---|
|||||**£**|£|
||Other debtors|||**1,584**|-|
||Somerset Film and Video Ltd|||**-**|5,117|
||Prepayments and accrued income|||**15,294**|-|
|||||**16,878**|5,117|
|**11.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
||Trade creditors|||**31.3.23**
**£**
**25,948**|31.3.22
£
-|
||Accruals and deferred income|||**1,800**|-|
|||||**27,748**|-|
|**12.**|**MOVEMENT IN FUNDS**|||||
||**Unrestricted funds**|At|1.4.22
£|Net
movement
in funds
£|At
31.3.23
£|
||General fund|**43,170**||**(42,250)**|**920**|
||Sedgemoor District Council - Bridgwater|||||
||High Street||**-**|**10,000**|**10,000**|
||**Restricted funds**|**43,170**||**(32,250)**|**10,920**|
||Clashmob||**2,250**|**(2,250)**|**-**|
||BOSH Seawall|**17,000**||**(17,000)**|**-**|
||Come Together||**1,500**|**(1,500)**|**-**|
|||**20,750**||**(20,750)**|**-**|
||**TOTAL FUNDS**|**63,920**||**(53,000)**|**10,920**|
continued...
Page 12
Seed Sedgemoor
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Sedgemoor District Council - Bridgwater
High Street
**Restricted funds**
Clashmob
BOSH Seawall
Come Together
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Clashmob
BOSH Seawall
Come Together
**TOTAL FUNDS**|Incoming
resources
£
**264,137**
**10,000**
**274,137**
**1,000**
**-**
**-**
**1,000**
**275,137**|Resources
Movement
expended
in funds
£
£
**(306,387)**
**(42,250)**
**-**
**10,000**
**(306,387)**
**(32,250)**
**(3,250)**
**(2,250)**
**(17,000)**
**(17,000)**
**(1,500)**
**(1,500)**
**(21,750)**
**(20,750)**
**(328,137)**
**(53,000)**
Net
movement
At
in funds
31.3.22
£
£
43,170
43,170
2,250
2,250
17,000
17,000
1,500
1,500
20,750
20,750
63,920
63,920|
|---|---|---|
continued...
Page 13
Seed Sedgemoor
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **12. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|43,173|(3)|43,170|
|**Restricted funds**||||
|Clashmob|2,250|-|2,250|
|BOSH Seawall|17,000|-|17,000|
|Come Together|1,500|-|1,500|
||20,750|-|20,750|
|**TOTAL FUNDS**|63,923|(3)|63,920|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**|At 1.4.21
£|At 1.4.21
£|Net
movement
At
in funds
31.3.23
£
£|
|---|---|---|---|
|General fund||-|920
920|
|Sedgemoor District Council - Bridgwater||||
|High Street||-|10,000
10,000|
|||-|10,920
10,920|
|**TOTAL FUNDS**||-|10,920
10,920|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Sedgemoor District Council - Bridgwater
High Street
**Restricted funds**
Clashmob
BOSH Seawall
Come Together
**TOTAL FUNDS**|Incoming
resources
£
307,310
10,000
317,310
3,250
17,000
1,500
21,750
339,060|Resources
Movement
expended
in funds
£
£
(306,390)
920
-
10,000
(306,390)
10,920
(3,250)
-
(17,000)
-
(1,500)
-
(21,750)
-
(328,140)
10,920|
|---|---|---|
continued...
Page 14
Seed Sedgemoor
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
## **14. SOMERSET FILM & VIDEO LTD**
During 22/23, under the terms of a management contract with the Seed Sedgemoor lead consortium member Homes in Sedgemoor, Somerset Film and Video Ltd drew down directly £47,887.08 of funds for their management role and reimbursement of additional costs. This funding is reported in the annual accounts for Somerset Film and Video Ltd and lodged with Companies House and the Charity Commission. They also repaid the £5,117.34 of Seed funds held at the end of March 2022.
Page 15
Seed Sedgemoor
## Detailed Statement of Financial Activities for the Year Ended 31 March 2023
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2023|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**439**|56|
|Grants|**273,143**|63,867|
|**Other trading activities**|**273,582**|63,923|
|Sponsorships|**1,500**|-|
|Participant fees|**55**|-|
||**1,555**|-|
|**Total incoming resources**|**275,137**|63,923|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Project costs|**182,797**|-|
|Employment costs|**110,727**|-|
|Establishment costs|**542**|-|
|Repairs and maintenance|**31**|-|
|Office expenses|**5,909**|-|
|Printing, post and stationery|**47**|-|
|Subscriptions|**119**|-|
|Bank charges|**32**|3|
|Legal and professional|**9,228**|-|
|**Other**|**309,432**|3|
|Bank interest|**3**|-|
|**Support costs**|||
|**Governance costs**|||
|Travel and subsistence|**4,467**|-|
|Advertising|**7,897**|-|
|Accountancy|**3,613**|-|
|Bookkeeping|**2,050**|-|
|Sundries|**559**|-|
|Fixtures and fittings|**116**|-|
||**18,702**|-|
|Total resources expended|**328,137**|3|
|**Net (expenditure)/income**|**(53,000)**|63,920|
This page does not form part of the statutory financial statements
Page 16