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2024-03-31-accounts

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 2024

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 2024

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 16
Detailed Statement of Financial Activities 17 to 18

Seed Sedgemoor

Report of the Trustees for the Year Ended 31 March 2024

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 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 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.

Established in 2019 by a consortium of local grass roots organisations in order to improve the lives of people living and working in Sedgemoor through creative arts-based activities. The communities we work with believe that arts, culture and creativity brings about positive changes and benefits to their lives and the places in which they live. We demonstrate this by:

Bringing a shared sense of identity and community, and a positive sense of place, which results in greater community cohesion,

Increasing wellbeing through the reduction of loneliness and isolation by increasing interaction and connection to others, and

Improving mental and physicalhealth through creativity as an early intervention strategy which promotes self-expression, enjoyment.

Creativity and the arts are not elite activities, but should be part of everyday life, created by, with and for the people, and respond to their imagination and reflect the things that are important to their communities. Our creative activities over the previous twelve months have reached many of the most disadvantaged and hard to reach in Sedgemoor, and encouraged them to be resilient and adaptable which reduces their susceptibilityto anxiety and depression, while opening people up to personal growth and new opportunities.

From start-up to 31 March 2024 we have delivered or started 59 projects with a total of nearly 20,000 participation's, supported by over 7,500 volunteer hours and attracting audiences of over 300,000. Independent evaluations show that Seed engages audiences of all ages and backgrounds who don't usually participate in the arts, providing them with high-quality opportunities to do so.

We work in targeted communities to 'seed' new arts activity by enabling people to shape it. We develop it in partnership with them by progressing each community through a four-stage developmental model, that results in sustainable community-led activity on a continuing basis. we enable and encourage them to be ambitious and aspire to excellence:

Plough - We talk to people and cultivate ideas in local communities. We find out what strengths can be built on and what opportunities people miss

Sow - Communities test events and activities

Grow - We nurture them by supporting those activities and events which strike a chord to get bigger and better. Yield - The events and activities become sustainable and regenerative.

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 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

Report of the Trustees for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE

Charitable activities

We delivered a wide array of ambitious and high-quality community led and co-created artistic projects across the financial year ending 31 March 2024. Highlights include:

Creative Accelerator sessions in Bridgwater : our uniquely in-depth community consultation sessions were held across the town over a four month period and collected a rich vein of material to inform our work in the Town over the following 18 months.

Hidden Station : an innovative augmented reality art installation at Bridgwater Railway Station which brought station users stories of connection to the Station to life via vibrant illustrations by artists David McMillanand Jayde Perkin and smart device animations by Zubr Curio.

Front Garden Music Festival 2024 : in Bridgwater, Highbridge, Edington, Catcott and Fyne Court featured some very high quality performances from visiting acts including RSVP Bangra, Andy Nowak Trio, Sam Wellbourne, Jana Varga and Redtenbacher's Funkestra alongside local amateur and professional performers as well as members of our participatory groups.

The Nornen Project : which began life as a community-led project to develop a theatrical script from local and family stories, blossomed this year into the professional production "All Hands", performed in Burnham-on-Sea. The final production of sold-out performances was very high quality, innovative in its integration of British Sign Language, and featured community performers alongside the professional cast.

We brought Empirical's popup Jazz Lounge to Bridgwater this year, and it featured arguably the highest quality musical act presented by Seed to date and among the highest quality musical performances that the town has ever seen. Delivering 13 heavilyimprovised sets over 2 days, the project reached many unsuspecting members of the community, in more than instance turning them into instant jazz fans.

Our Cheddar Individuality project progressed to another stage, with nearly 1500 community created clay figures displayed in groups along a trail that went from the Cheddar Gorge to the heart of the village. This was an extremely successful project, attracting many more participant creators and audience members than anticipated, and generating significant media interest.

Moments on Mendip : was a very ambitious project where we commissioned Elizabeth Woodger, a photographic artist with a background in Geology, to take photographs of the Mendip AONB and lead workshops with local people to create other images, and project them on to rocks one Sunday evening in Cheddar Gorge. The event was very successful, drawing a large crowd and leading directly to demands for more cultural and creative events in the Gorge.

Wellbeing Fair : was developed in partnership with our local Department of Workplace and Pensions, and Jobcentre Plus. The popup wellbeing event in Bridgwater Town Hall brought the benefits of active participation in arts activity to many of the harder to reach members of the community.

Our regular and ongoing participation groups including Blues in the Pews, Highbridge Youth Arts, Clay Club, The Bridgwater Guitar and Bass Group, Chilton Polden Music Group, Mind Art Group, Clashmob and Highbridge Youth Theatre went from strength to strength this year, with more participants and more ambitious activities than ever before. New activities of this type in the year included Cheddar Youth Theatre, Speedcrafting. Herstory and Inkjam .

We took local residents on Go See Trips to see the Ai Wei Wei exhibitionin London and Ariel Posen perform in Bristol. We also hosted the 2023 gathering of Creative People and Places projects in Bridgwater, and sent a delegation to Westminster to take part in the Ten Years of Creative People and Places celebrations held by Arts Council England. We are very grateful to be funded by them and the National Lottery via the Creative People and Places programme.

For the year 1 April 2023 to 31 March 2024 we recorded at total of 3,876 participations and 118,117 audience engagements. These figures compare favourably with annual averages across our 5 years of activity which show approximately 4,000 participations per year and 65,000 audience engagements per year.

Page 2

Seed Sedgemoor

Report of the Trustees for the Year Ended 31 March 2024

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 two 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 £330,863 of which £312,793 related to unrestricted funds and £18,070 to restricted funds.

Resources expended amounted to £310,220 of which £299,670 was from unrestricted funds and £10,550 from restricted funds. The balance held on general unrestricted funds at the end of the year was £737 and the balance held on designated unrestricted funds was £10,000. Restricted funds held at the end of the year was £7,520.

PLANS FOR FUTURE PERIODS

Aims and key objectives for future periods

The charity is committed to consolidating its deliveryin key areas and to increasing access to the arts across Sedgemoor. To do this, we will continue to divide our energies between reaching new members of the community, maintaining the quality and depth of engagement in our work and encouraging those we engage with to further their artistic ambition.

We will continue to undertake community consultation activities that are designed to ensure that the people we work with are empowered to make creative, programming and delivery decisions, while reviewing, evaluating and learning from those experiences. This is essential to our success as a community-led action research project.

In 2024-5 we will continue to apply our developmental model, with an increased focus on Bridgwater. Sow stage commissions will be established in the town and we will deliver a high profile creative takeover project in or close to the High Street. Our partnership with the National Gallery will bring an established name and high-quality experience to Bridgwater, which will also visit other parts of Sedgemoor.

Our work in Highbridge will move into the Yield phase as we assist projects, groups and arts practitioners in the town transition from commissioned activities to regenerative ones. Previously commissioned projects in Cheddar, Axbridge and the Polden Villages will progress through the Grow phase with a new round of commissions.

By the early months of 2025 we will undertake Plough phase activities with newly engaged communities in North Petherton and Cannington.

We will stage the Front Garden Music Festival again, with an increased focus on local community groups and organisers taking the lead in programming and delivery, with some sites progressing towards complete artistic and operational control over their events.

We will provide developmental activities in the form of 'Go See' trips, bursaries for attendance at conferences and events, a skills workshop on regenerative arts practices and we will also remain very active participants in the National CPP and place-based learning programme.

We will seek new sponsors and commercial partners to join us in our endeavours to ensure creativity is at the heart of community life in Sedgemoor, and we will continue to work to find a new core funding stream to replace that lost with the dissolution of Sedgemoor District Council. We will also work to secure an extension from Arts Council England under the Creative People and Places National Portfolio Organisation programme, to take our core funding from them through to the end of March 2026, ahead of applying for a further three years under the programme. If successful, we will develop a new business plan and enter into a new phase of our work for the 2026-2029 period.

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)

Page 3

Seed Sedgemoor

Report of the Trustees for the Year Ended 31 March 2024

Registered Charity number

1193350

Registered office

50 - 52 High Street Bridgwater Somerset TA6 3BL

Trustees

Ms N E McDevitt M J Lerry A Buchanan (resigned 5.12.23) S Isherwood Miss M R Conibeer Dr S A Kite Trustee (appointed 5.12.23)

Bankers

Co-operative Bank Business Direct PO Box 250 Skelmerdale WN8 6WT

Approved by order of the board of trustees on .... 3 December 2024 .... 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 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
300,921
Other trading activities
3
12,772
Investment income
4
7
Total
313,700
EXPENDITURE ON
Charitable activities
5
Project costs
168,963
Legal and professional fees
11,790
Advertising
4,141
Accountancy
1,091
Office expenses
5,192
Bank charges
3
Sundries
2,598
Employment costs
109,419
Travel and subsistence
5,538
Printing, post and stationery
148
Establishment costs
894
Subscriptions
344
Bookkeeping
-
Repairs and maintenance
-
Depreciation
99
Other
-
Total
310,220
NET INCOME/(EXPENDITURE)
3,480
RECONCILIATION OF FUNDS
Total funds brought forward
10,920
TOTAL FUNDS CARRIED FORWARD
14,400		 Restricted
funds
£
18,070
-
-
18,070
10,550
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,550
7,520
-
7,520		 31.3.24
Total
funds
£
318,991
12,772
7
331,770
179,513
11,790
4,141
1,091
5,192
3
2,598
109,419
5,538
148
894
344
-
-
99
-
320,770
11,000
10,920
21,920		 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

The notes form part of these financial statements

Page 5

Seed Sedgemoor

Balance Sheet 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 10 559 - 559 658
CURRENT ASSETS
Debtors 11 2,509 - 2,509 16,878
Cash at bank 30,996 7,520 38,516 21,132
CREDITORS 33,505 7,520 41,025 38,010
Amounts falling due within one year 12 (19,664) - (19,664) (27,748)
NET CURRENT ASSETS 13,841 7,520 21,361 10,262
TOTAL ASSETS LESS CURRENT
LIABILITIES 14,400 7,520 21,920 10,920
NET ASSETS/(LIABILITIES) 14,400 7,520 21,920 10,920
FUNDS 13
Unrestricted funds 14,400 10,920
Restricted funds 7,520 -
TOTAL FUNDS 21,920 10,920

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

Seed Sedgemoor

Balance Sheet - continued 31 March 2024

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 .. 3 December 2024 ..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 2024

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 applicablein the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The FinancialReporting Standard applicablein 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 FinancialActivities 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		 31.3.24
£
1,386
317,605
318,991		 31.3.23
£
439
273,143
273,582

continued...

Page 8

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

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
Severnside - Hidden station
BAC/Town Council - Quayside
Animating the Town fund - Hidden station
HPC - High Street takeover
High street takeover
3.
OTHER TRADING ACTIVITIES
Sponsorships
Participant fees
Corporate income
Project income
4.
INVESTMENT INCOME
Interest receivable - trading		 31.3.24
£
500
294,445
-
-
-
10,550
1,190
3,400
6,670
850
317,605
31.3.24
£
-
400
500
11,872
12,772
31.3.24
£
7		 31.3.23
£
1,000
249,418
10,000
12,500
225
-
-
-
-
-
273,143
31.3.23
£
1,500
55
-
-
1,555
31.3.23
£
-

continued...

Page 9

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

5. 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
Depreciation
6.
SUPPORT COSTS
Advertising
Accountancy
Sundries
Travel and subsistence
Depreciation		 Direct
Costs
£
179,513
11,790
-
-
5,192
3
-
109,419
-
148
894
344
-
307,303		 Support
costs (see
note 6)
Totals
£
£
-
179,513
-
11,790
4,141
4,141
1,091
1,091
-
5,192
-
3
2,598
2,598
-
109,419
5,538
5,538
-
148
-
894
-
344
99
99
13,467
320,770
Governance
costs
£
4,141
1,091
2,598
5,538
99
13,467

Support costs, included in the above, are as follows:

Travel and subsistence Advertising
£
-		 Accountancy
£
-		 Sundries
£
-
Advertising 4,141 - -
Accountancy - 1,091 -
Bookkeeping - - -
Sundries - - 2,598
Depreciation of tangible fixed assets - - -
4,141 1,091 2,598

continued...

Page 10

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. SUPPORT COSTS - continued

----- Start of picture text -----
|||||| |---|---|---|---|---| |31.3.24|31.3.23| |Travel| |and|Total|Total| |subsistence|Depreciation|activities|activities| |£|£|£|£| |Travel and subsistence|5,538|-|5,538|4,467| |-|-| |Advertising|4,141|7,897| |-|-| |Accountancy|1,091|3,613| |-|-|-| |Bookkeeping|2,050| |Sundries|-|-|2,598|559| |Depreciation of tangible fixed assets|-|99|99|116| |5,538|99|13,467|18,702|

----- End of picture text -----

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |31.3.24|31.3.23| |£|£| |Depreciation - owned assets|99|116|

----- End of picture text -----

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |Donations and legacies|272,582|1,000|273,582| |-| |Other trading activities|1,555|1,555| |Total|274,137|1,000|275,137| |EXPENDITURE ON| |Charitable activities| |Project costs|161,047|21,750|182,797| |-| |Legal and professional fees|9,228|9,228| |-| |Advertising|7,897|7,897| |-| |Accountancy|3,613|3,613| |-| |Office expenses|5,909|5,909| |Bank charges|32|-|32| |Sundries|559|-|559| |-| |Employment costs|110,727|110,727| |Travel and subsistence|4,467|-|4,467| |Printing, post and stationery|47|-|47|

----- End of picture text -----

continued...

Page 11

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
Establishment costs 542 - 542
Subscriptions 119 - 119
Bookkeeping 2,050 - 2,050
Repairs and maintenance 31 - 31
Depreciation 116 - 116
Other 3 - 3
Total 306,387 21,750 328,137
NET INCOME/(EXPENDITURE) (32,250) (20,750) (53,000)
RECONCILIATION OF FUNDS
Total funds brought forward 43,170 20,750 63,920
TOTAL FUNDS CARRIED FORWARD 10,920 - 10,920
10. TANGIBLE FIXED ASSETS
COST Fixtures
and
fittings
£
At 1 April 2023 and 31 March 2024 774
DEPRECIATION
At 1 April 2023 116
Charge for year 99
At 31 March 2024 215
NET BOOK VALUE
At 31 March 2024 559
At 31 March 2023 658

continued...

Page 12

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
13.
MOVEMENT IN FUNDS
At 1.4.23
£
Unrestricted funds
General fund
920
Sedgemoor District Council - Bridgwater
High Street
10,000
10,920
Restricted funds
HPC - High street takeover
-
High street takeover
-
-
TOTAL FUNDS
10,920
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
313,700
Restricted funds
HPC - High street takeover
6,670
Severnside - Hidden station
10,550
High street takeover
850
18,070
TOTAL FUNDS
331,770		 31.3.24
31.3.23
£
£
1,584
1,584
925
15,294
2,509
16,878
31.3.24
31.3.23
£
£
15,033
25,948
2,769
-
512
-
1,350
1,800
19,664
27,748
Net
movement
At
in funds
31.3.24
£
£
3,480
4,400
-
10,000
3,480
14,400
6,670
6,670
850
850
7,520
7,520
11,000
21,920
Resources
Movement
expended
in funds
£
£
(310,220)
3,480
-
6,670
(10,550)
-
-
850
(10,550)
7,520
(320,770)
11,000

continued...

Page 13

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.22
£
Unrestricted funds
General fund
43,170
Sedgemoor District Council - Bridgwater
High Street
-
43,170
Restricted funds
Clashmob
2,250
BOSH Seawall
17,000
Come Together
1,500
20,750
TOTAL FUNDS
63,920
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
264,137
Sedgemoor District Council - Bridgwater
High Street
10,000
274,137
Restricted funds
Clashmob
1,000
BOSH Seawall
-
Come Together
-
1,000
TOTAL FUNDS
275,137		 Net
movement
At
in funds
31.3.23
£
£
(42,250)
920
10,000
10,000
(32,250)
10,920
(2,250)
-
(17,000)
-
(1,500)
-
(20,750)
-
(53,000)
10,920
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)

continued...

Page 14

Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.22 in funds 31.3.24
£ £ £
Unrestricted funds
General fund 43,170 (38,770) 4,400
Sedgemoor District Council - Bridgwater
High Street - 10,000 10,000
Restricted funds 43,170 (28,770) 14,400
Clashmob 2,250 (2,250) -
BOSH Seawall 17,000 (17,000) -
Come Together 1,500 (1,500) -
HPC - High street takeover - 6,670 6,670
High street takeover - 850 850
20,750 (13,230) 7,520
TOTAL FUNDS 63,920 (42,000) 21,920

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
HPC - High street takeover
Severnside - Hidden station
High street takeover
TOTAL FUNDS		 Incoming
resources
£
577,837
10,000
587,837
1,000
-
-
6,670
10,550
850
19,070
606,907		 Resources
Movement
expended
in funds
£
£
(616,607)
(38,770)
-
10,000
(616,607)
(28,770)
(3,250)
(2,250)
(17,000)
(17,000)
(1,500)
(1,500)
-
6,670
(10,550)
-
-
850
(32,300)
(13,230)
(648,907)
(42,000)

continued...

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Seed Sedgemoor

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

15. 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.

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Seed Sedgemoor

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 1,386 439
Grants 317,605 273,143
Other trading activities 318,991 273,582
Sponsorships - 1,500
Participant fees 400 55
Corporate income 500 -
Project income 11,872 -
Investment income 12,772 1,555
Interest receivable - trading 7 -
Total incoming resources 331,770 275,137
EXPENDITURE
Charitable activities
Project costs 179,513 182,797
Employment costs 109,419 110,727
Establishment costs 894 542
Repairs and maintenance - 31
Office expenses 5,192 5,909
Printing, post and stationery 148 47
Subscriptions 344 119
Bank charges 3 32
Legal and professional 11,790 9,228
307,303 309,432
Other
Bank interest - 3
Support costs
Governance costs
Travel and subsistence 5,538 4,467
Advertising 4,141 7,897
Accountancy 1,091 3,613
Bookkeeping - 2,050
Sundries 2,598 559
Carried forward 13,368 18,586

This page does not form part of the statutory financial statements

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Seed Sedgemoor

Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3.23
£ £
Governance costs
Brought forward 13,368 18,586
Fixtures and fittings 99 116
13,467 18,702
Total resources expended 320,770 328,137
Net income/(expenditure) 11,000 (53,000)

This page does not form part of the statutory financial statements

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