**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 - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financialstatements 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 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... Page 15 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. Page 16 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 Page 17 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 Page 18