IiEGtSTERED COMPANY YLTrfBER.. CE024777 IEDgland and Waltsl BJ.GISTFRED CHA￿ NUMBER: 1193350 rt of the Trustees and h202 Seed Sed or Maxwe115 Chartered Accountants 4 King Square Bridgwater Som¢T5Ct TA6 3YF Contents of th¢ FitYdts¢ial Stat¢m¢ttts for th¢ ed31 Marc Page Report of tbe Trustees Independent Examitierfs Report Statement of Financial A¢tivitie5 Balance She 9 to 10 Note5 to the Fjnancial Statem¢nt$ 11 to 19 D¢t&iled Ststcm¢nt of Financial Activities 20 to 21 ed Sed ¢n)oor of the TnL8 forthe Endrd 31 March 2025 Th¢ trustees who ar¢ a]so dir¢ctOTS of tbe Charity for the purpos¢$ of the Comp8ni¢$ Act 2006. pr¢seot their report with th¢ financial statements of the Cbarity for the year ¢nd¢d 31 March 2025. The trustees have adopted th¢ provisions of A(xoullting atsd R¢poning by Chariii¢s.' Stsiejneni of R¢¢orn]nended Prartire applicabl¢ to chariii¢s preparing their accoullts in accordance with the Financial Repottsng Standard applicable in the UK and Rq)ubli¢ of Ireland (FRS 102} l¢ffectivc I January 2019). OIIJEcfIvES AND ACTIVITIES Objectives and &im& The object of Seed S¢dgemix)r is io catry out activities vAJich advance participation in arts, cults]re and heTitsge to the benefit of cOD]m￿lI1¢S w¢ work wit]L Established in 2019 by a tOJLWrtium of local grass roots vrgamsatioD5 in order to impruve the lives of peoplc livitvg and working in Sed8cmoor through creative aY¢s-bAsed actiMtie$. The cornmunities we work w2th believe that ans. cultur¢ and crcatiwty brings about pobiiiv¢ change5 and b¢llefits to th¢ir livw and thc placc5 iu which they live. W¢ demonstrate this by: Bringing a shared s¢JJse of id¢ntiiy and con]rnunity, and a positive sens¢ of platt. which results in greater communily cohes1011, In¢reJsing wcllbeing ihrougb the redurtion of loneliness at￿ isolation by increa5in8 interaction and conn￿tion to others. and Improving mentsl and physi¢al health through crcarkvity a5 #n ¢arly intervcntion strate8y which proniot¢5 ￿lf-expresSiO enjoyll￿nt. Creativity and ihe art8 are not elite ¥4¢tivities. should be part of everyday life, created by, Thith and for ihe people, and rupond to tbeir im&gination and r¢fl¢ct the thj'ngs that are importaTLt to their communilies. Our creative a¢tiviii¢s over th¢ previous nvelve Mo￿th$ have reach¢d matty of rh¢ Y￿st disadvantsgcd and hard to reAch in s￿l8cMO0r. a]Jd encouraged them 10 k resilienl and adaplable which reduces their susceptibility to anxiety aThl depression, while opening people up to p¢r50wI and new opportunitie5. From start-up to 31 March 2024 we have deliv¢r¢d or started 59 projeels wryth a total of nearly 20,￿0 participatioii's. supported by over 7,500 volunieer hours and attra¢tin8 audienc¢5 of over 300,000. Independent evaluatiON show that Seed ¢ng28es audienres of all ages and b#¢kground5 who don't ￿UallY participate in the arts, prowidin8 them with kn"gb*uality opwTrthJJities to do $0. We work in tar8eteor.¢om is rcgularly updated with out current projects, 8nd an ar¢￿'ve of past work. Seed Sed moor rt of th¢ Tnsle¢s for the Y¢ar Ended 31 March 2025 OBJECTIVES AND ACTivrriES Public benefit The trustee5 confimi thal they havc complied with th¢ rcquirements of Section 4 of th¢ Charities Art 2011 to have Ilu¢ r¢8ard to the public benefit s￿danCe published by the Charity Commission for En￿d andWAles. Pp4ge 2 Sced Sed emoor rt of th¢ Tn]stces for the Year End¢d 31 Mar¢b 2025 ACHIEVETrIENTS AND PERFOR￿lANcE Ch8ritable activitie5 2024125 another cxciting #nd very busy year for Se¢d. We commis5soned and delivered 18 projects during thc fituncial year, mailltailling OUT high levels of ¢n8a8¢m¢nl with audiettces and p3rtifiPonts thnM]gh a rnid¢ variety of creative a¢tiYities and events aCTts￿ Sedgemoor. W¢ tontinue to rca¢h rnor¢ and moTr people, primarily from our tar8el grow) of those who hav¢ not previously enjoyed th¢ many benefjts of engabring with th¢ arts. Most of our audieth¢e and participaDts are not usually peopl¢ who attelld #rts acti￿￿ties. For example, nearly Thvo third5 of the people surv¢y¢d at our Creative Popup storcfront in the Angel Place Shopping Centre between August and Deccmber 2024 told us that they attended arts a¢tivitie8 once per year. or less often, with IV/0 saying thdl the Seed C.TealiVC Popup their first ever engagwnent the arts. Our survey data show$ tbat, al ll￿st of our activities this year, more than half of respondents were experiencing a Seed actlvity or event for thc first time. Al sonK ¢vent4 this iw b¢¢n the case for two thirds of thenL Th¢ Creative Popup was a particularly effectivc new aCti￿ty for Seed in 2024, ex¢mplifying our dual focus oll iemoiqng baTri¢rs to en8a8em¢nt aTd prtsentir)g the highest quality work 4)nd commuDity pridi¢¢. HostiDg a wtde range of diff¢r¢nt sknrt t¢Tm offers, the Shop in Angel Place was vistted by 6.557 pe()pl¢ beiwe¢n August 2024 and March 2025 with highlights includin8 the cxhibition of nearly 1.500 clay figure$ in the Il￿1¥idua1Lty exhibition and a visit from the National Glllery. Our parthership Mith th¢ National Gall¢ry cxtended beytsnd the popup. iti a prtsgramn￿ cfvdesign¢d by local p¢opl¢. It provided thousar￿5 of people in Bridgwater, Cheddar atsd Highbridge with a ￿1que oppO￿tIlty 10 experience and ¢n8age with sumc of the bcstpaintings in Britain gain new levels of wider5tanding and appreciatioL and to ¢njoy disarn)ing and Satisfying ways of befftg creativc themselves at the Art Road Trip van. ront Garden Mu$ie Festival, ha$ been onc of our core events since li was first created as a (so we thoughil one-off lockdown event io enabl¢ loca] n)usician8 to have a paid gig whcn all th¢ir perfonnI￿g opporniniti¢s be¢n closed down, a￿d to enable small grow)s of peoplc w ￿m¢ tO8eth¢r to enjoy music together in their neighbourhood. By popular demand w¢ hxvc brought it back year aft￿ year, with bigger and bigger thows. In a it has becoyne l¢ss of a litcra] 'FmtJt Garden. evcnt whil¢ n¥intaining the ethos of bein8 a platform for local pcrforn*Ys, and thc festival th&t iakcs plaGe right where you are, no queues or travelling to impaet on your ¢njoyment. At the same tirne. the event has rnainiained its coDn¢ction to straller venues - in actual front gardens in Highbn'dge and A5bcott where the local OTganis¢rs now bave complete owhership and conttol over their lo￿] event. In OUT mo$¢ r¢¢enr iterdtions, including this fourth Front Garden Music Festival. w¢ hav¢ also been fo¢used on incr¢asing the diversity aTLd quality of ihe p¢rfom)ers, cxemplified by a range of genres and cultures on show at ow maijjstage in Victoria Park Bridgwater, hcadlincd by the widely acclaimed and awarded Jo Harfftun. W¢ advocat¢ for in¢reascd parttcipation and visibility of wotnen in music with activitie5 such &8 ow musi¢ iechnology worksknp for worncn. our online discussion forum about WOTllett in music and this y¢•r 36O/d of th¢ a¢ts across th¢ Fn)nt Garden Musi¢ F¢stival weekend f¢amred a f¢]DHl¢ p¢rforn￿ in a key [01¢. We eontinue to work c108ely wryth members of the ¢tymmunities wh￿¢ ￿ work. Thcy lakc th¢ lead ID Ide￿Ifying lh¢ creative and cultUTa] 5tyengih4 weakn¢55e$ and opportuDiti¢E in their Ioc81 areas. Tb¢y work collabtsJ¥tiv¢ly ￿th us to ¢04r¢ate the proje£ts, activitie$ and events tbat w¢ develop and deliver irt response. This 1$ demonstrated very strongly in the ongoiDg development of a Major Dew pi¢ce of public art for Bridgwater. The idea of such a piece. that would focus on Bridgw2teVs modern identity rather than just it$ hcritsge, has been ¢oming up itt all of our Bridgwaier ¢oD]munity ¢onsultstion events sinc¢ fjrst bcing voi¢¢d to us at our stall at Qllaysi(k Festival in 202]. This year, in partner$bip with ib¢ Bridgwater Town Deal, we hcld a fr¢*t¢ thc Future, event in Bridgw4ler followed by consultations lttal busincsse5 in Easlover to explore the site, th¢n]es and fomi of such a project. Almost 1,0110 people ¢ngaged in this process l¢ading to a Community selection panel con]missioning arlisi Tom Sledmor¢. Tom will work ¢los¢ly with Bridgwaier residents and Eas￿verb￿S1nes5 OWryL¢rs to ¢o.create a large-scale mural in 2025. Page 3 se￿ Sed rt of the Tntstc¢$ for th¢ YeaT ETLd¢d 31 Mawh 2025 In a￿lI10n to these. and many other great one-off events and projects, we totttinue to support smaller ongoin8 group5 and a¢tJvitics such as our hugely su¢cessfu] music paTti¢llTratiot) group5 IllLluding in the Pews, and Tewfesf progrdmm¢s in Ilighbridg¢, alongside new initiatives su¢h as'singing for the Slightly Terrifi¢d'. Our youth theatre initiatives irt IIishbridgc, Cheddar aDd Bn"d￿￿ter engage wung p￿pIe and en￿0￿¢[ th¢m lo bring their own idea5 to lifc. Creaiiyc WTiting, visual arts and other groups continue to d¢v¢lop and 8row across Sedg¢moor. Wc arc also moving inio new artfonn areas ineluth"n8 fashion through'B105$0mtos Bridgwatd whi¢lJ will cthinate in o n¢w aDd cxciting event n¢xi finan¢ial y¢ar. 2025126 Hryll be the final year of our twic¢ ¢xt¢nd¢d fjrsl phase Creaiive P¢vple aDd Places lunding. Prior to the siart of the n¢w ycar we had atrcady sttur¢d more than half of our match fiuJdirJ8 ttsrget. With the Secd Consortium ￿d¢r sj ￿ ltad organisatioJ4 Youllg SomeT5ei from 2026, we have lodged a strong application for phase 2 funding from 2026 through until 2029. W¢ look forward to continuing to work e105ely the pcople of S¢dg¢moor to provide new and a¢¢¢ssible opportunitie$ io engage with, participate in and appreciate cr¢alive arts, heritsge and culture, and to enabling as many people as ￿>ssIble io tsk¢ part in tbelll. FINANCIAL REVIEW Fffinancknl position In 2022 the Secd managcmtnt tedm s￿￿ed £377,778 Lljnding foT th¢ CTeativ¢ Pthpl¢ and Place5 prugrdmme from Arts Council England ￿111 2025. These ac¢ounts reflect year three of i three year pr0￿MMe of activity. The Seed Sedgemoor lead coDsortiwn m¢tnber Homes ill Scdgemoor is the namcd recipient for these fL]nds. IncoTning re50urc¢5 into th¢ CIO were £256.941 of ml)i¢h £236.441 rel￿d 10 unrestricted funds and £20,51Mb io restricted fuTKts. R¢sources cxpcnd¢d amount¢d to £265.684 of which £242,664 was from unrestricted funds and £23,020 from restricted fim¢ts. The balance held on 8¢nexal unrestricted fimds at the end of the year wts £8,177 and the ba]antt h¢ld on dcsignated unte$tyi¢ied was £IO.000. Resttitted funds h¢ld at the end of the ycar was £5,OIMJ. Pag¢ 4 Se¢d Sed enioor e Truste¢s foT thr Year Ended 31 Mar¢h 2025 PLINS FOR FUTURE PERIODS All￿ And key obJe¢¢lv¢s for perfod8 The charity 18 committ¢d to ¢oJJsolidating its delivery in key #reas and to increasing a¢¢ess lo the arts xrtsss S¢dgemoor. To do this. w¢ will continu¢ to divide our eneigi¢s between reaching new member5 of the ¢onn)wnity, maithal￿]ng the quality And depth of ¢nga8etnent ill our wx)rk a￿j encouTagin8 those we cngag¢ with to further theiT artistic at￿ltion. We will continuE to ￿dertakC community con5ulthtion a¢tivitie5 that are designed ts) ensure that the p￿PIe we work are ¢try)owercd to rnak¢ ¢reativc, programming and delivery de¢isiolls. ￿￿71¢ r¢viewing, evaluatsng and Icarntng from ihose CKperi¢n¢e$. This is c￿entiO1 to our sucLesb *8 a COmllLunity-l¢(J a¢tion research project. In 2024-5 we wryll eontinu¢ to apply our developmcntal Tmd¢l, an increased focus on Bridgwater. Sow stsgc coJJJmiSSLons will be establish¢d ill the town and w¢ will dcliver • high profile creativ¢ tsk¢over project in or tluse to Ihc Hish Street. Our partnership Miih the National Ga]lery ￿11 briDg an ¢stablished nan]e •nd high￿UalIty exp¢ri¢nce to Brxlgwater. whi¢b will Slso visit oth¢rparts of Sedg¢moor. Our work in Highbtidge ￿111 move into the Yield phase as w¢ &8sist projects, groups and atts pra¢titioners in the tow transition from conjmissioned activities to rcgenerntive one5. Prewou$ly eonmiissioT)ed projects in Cheddar, Axbridge and the Poldeu Vil]a8es will progress through the Grow phase with anew round of commissioJ)s. By ihe early motsths of 2025 ￿ will und¢rrake Plougb phase aCti￿tt¢S with newly cn8a8£d conununities in North P¢th¢non and C8nnington. We will stage the Front Garden Music Festiva] again, with an IDcreascd focu5 on lo¢al co]Jlltwnily gtoup$ and organi5e taking the lead it) programu)ing and delivery, with some sites progr¢s$in8 towards compl¢te artistic and operaiional control ovcr their cvents. We will provide d¢v¢lopmental activities in the form of ￿ See, trips, bursarics for attcndance ai ¢onferences and ev¢nts, a 5kill& wwkshop on reg￿trative art5 practic￿ and wc will also remall) very a¢iiv¢ p8rticJpaDts in the National CPP and piace-based learning programme. We wll seek ncw SPOJksors and ¢ommerciaI partners to join us in our ¢tkdcavours to ensvr¢ creativity is at the heart of cotnmunity lif¢ in S¢dgernoor. 8t￿ we contillu¢ to wolk to find a new ¢or¢ funding 5tr¢atn to replace tbal lost with the diswlution ol Sedgemoor Dtstrict Council. We alw work to secure an extension from Arts Cowjcil Englattd under the Creative People and Plates National Portfolio Organisation programrne. to tske our ¢ore funding from them through to the ¢tKI of March 2026. ahead of applying for 2 further thre¢ years under the progrnmn*. If succcssful, we will develop 8 new busincss plfjn ond enter into a new phase of ourwork for the 2026-2029 period. STRUCTURE, GOVERNANCE AND MANAGEMENT Third pArty Indernnity ihtsurAnce policy The chaTity mainrasns a third party indemnity inswance p(>liey for th¢ beneflt of the Trustees. The policy w•s it) force duT¥#g the year and r¢maiJLS in force * th¢ thnc of opproval of thi5 report. REFERENCE AND ADMINISTIL4TtVE DETAILS Regi$t¢r¢d Compa￿Y ￿UMber CE024777 (E￿gI8￿d and Wal¢s) R¢glstered Ch*rlty nwmber 1193350 Registered offi 50- 52 High Streei Bridgwater Sonw5et TA6 3BL Pa￿5 Seed Sed R¢ of thc Tn]stC¢5 for th¢ Y¢dr Ended 31 Mar¢lh 2025 Trustee5 MJtLrry Dr S A Kile Tn]stee Miss R A Coull TnJste¢ {appoint¢d 3.l2.24} S Islietwood Iresigncd 3.12.241 Miss M R C.onibecr {r¢signcd 3.12.24) P Burr lappoillt¢d 3.12.241 Ms N E McDevitt (r¢sign¢d 3.12.24) Miss F L Smith Tn]ste¢ (appoU￿2d 3.12.241 Independent ￿MIner Maxwclls Chartered Accountants 4 King Square Bridgw8ter Somerset TA6 3YF Bankers Co-OPWative Bank Business Direct PO Box 250 SkeJm¢rdal¢ 86WT Approved by order of the board of truslees oD...23 January 2026.... and sign¢d OD Its behalf by.. Miss F L Smith- Tntstre Page 6 Inde elldeni Examin&5 R¢ Seed S¢d or rt 10 the Trustee5 of IDdependertt tx#mlner's report to the trnstees of Seed sedle￿Or I'the Comp8Try') I ￿port to Ihc cbarity trusie¢s on my examination of the of Company for thc y¢ar ended 31 Mar¢h 2025. Re5PDn$lbSlltl¢s And basi5 of r¢port As the charity's I￿Stee& of the Con3p4ny (l￿d also its dit¢¢tors for thc PLryS¢S of¥ompany lawl you ale r¢sponsibl¢ for th¢ prep2raiion of the a¢¢ounts in accordon¢e with the iequhr¢ments of the Cotllpanies A¢t 2006 Ilhe 21106 Act). HaviDg %atisfi¢d myself thai the accounts of the Cornpany not tequircd to bc audited under Part 16 of th¢ 2006 Act and ar¢ eligible for iDd¢pendent examination. I report in resPCCt of my ¢xamination of yow chan.tys a¢counts #s ¢aryi¢d out ￿￿der S¢ciion 145 of the Charities Act 2011 {Ihe 2011 Aci). In caErying my examination I have followed the Dii¢ctions given by tbe Ch)nty Commission und¢r Section 145(5) (b} of th¢ 2011 Act. Indepejbdent exfiDdner'$ $t*t¢ment Sinc¢ your ¢hariigs gr055 in¢ome exceeded £250,000 your examiner musi b¢ a rncmber of a listed body. I can confrn) that I am qualified io undertak¢ the ¢xaminalion bcc&usc l am a mcmber of the Institute of Chartered A¢¢ountaDts in Ettglatxl aDd Wales, wkn'ch is one ot'the listrd bodics. I hav¢ eompleted my examination. J ¢onfJrni that no matters have conK lo my attention in conncctiort the examination givingme cause to believe.. arrounting rec4)rd8 were not kept in rc8p¢ci of the Coryially as sequiredby Sectiott 386 of the 2006 Acl; or the a¢¢thunts do not a¢¢ord with those Tecords: or the ac¢owits do not cot]]ply with the ac¢ouniing requirements of Section 396 of the 2006 Act othcr thatt any requiren]ent that the accounts give a ttue and fair Yiew which is rbot a matter considered as part of an independent examination. or th¢ accounts have Th)t been prq)8T¢d in accordance with th¢ method5 prin¢ipies of ihe Stst¢m¢nl of Re¢ommcnded PracttC¢ for accounting and reporting by chwrities (fjpplicable to ch#riti¢8 preparing thcir H¢¢ounts in a¢cordan¢¢ with the FinaTKi81 Reporting Stsndard applkcable ill the UK and Rqwb]ir of Ireland (FRS 102)). I have no eonc¢rns and have come acioss no other matteTS iti t4)nnectioD the ¢xarnination to which 8tt¢ntion thould be drnwn in this report in order to ￿ab]e a properund¢r5tanding of the 8ccounts to b¢ r¢a¢hed. Clive Hall-Tomkin FCA Th¢ Institute of Chart¢rd Accountants in England al￿ Wale$ Maxwells Chartered AwountaDts 4 King Square Bridgwdter SoTnerset TA6 3YF Dat¢.. Page 7 S¢¢d Sed emoor Stutcmenl of Financial Activities for th¢ Y¢ar Ended 31 M8rLb 2025 31.3,25 To¢¥l funds 31.3.24 Total funds UnrestriLted filljds Restricted Note5 INCOME AND ENDOWMENTS FROM Don￿l0￿s and legacies 224,035 21JJlO 244,535 318,991 Other trading activities Investment iTL¢4n 12J95 12a95 li 12,772 Tothl 236.441 211,5110 25fy941 331,770 EXPENDITURE ON Ch#rltable activities Projeti Costs Legal and professional f¢¢s Adv¢nisAfLg AccouDt3t Office expen5e$ Bank Cha￿t5 Sundri¢s E￿ploYment costs Travel and subsisi¢n¢e Printing, post aTHi stationery Establishment costs Subscriptions Depreeiation 98,070 7,686 1,908 2,051 9,634 23,020 121,0911 7.886 1.9118 2,051 179,513 11.790 4.141 1,091 5,192 232 117,147 4,076 93 1,055 424 84 232 117.147 4,076 93 1,055 414 2,598 109,419 5.538 148 894 344 99 Total 242,664 23.020 265,684 320,770 NET If4coMEI(EXPENDrfuRE) {6323) (2,520) (8.743) 11,000 RECONCILIATION OF FUNDS TO1￿ futKis brought foTward 14AOO 7￿20 21.920 10,920 TOTAL FUNDS CARRIED FORWARD 8.177 5.1)00 13,177 21,920 The notes forni pan of these fiDancial stat¢metsts Page 8 Seed S emoor Balun¢e Sheet 31 March 2025 31.3.25 Totsl ds 31.3.24 Total UnresiriGt¢il Restricted Ntsles FIXED ASSETS Tangible assets 10 475 475 559 CURRENT ASSETS Debtors Cash at bathk 5,268 12,944 5,268 17.944 2,509 38.516 5,IbOI 18212 5,1100 23,212 41,025 CREDITORS An￿UnIS falling due within ollc year 12 (iojio) (10.510) 119.664) NET CURREKf ASSETS 7,702 12.702 21,361 TOTAL ASSKTS LESS CURRENT LIABILITIES 8.177 5,000 13,177 21,920 r4ET ASSETS .177 s,000 lJ,177 21,920 FUNDS Unrestri¢ted fiu R¢stri¢ted fvnds 13 8.177 5,IMIO 14.400 7,520 TOTAL FUNDS 13,177 21.920 The Charitable compaDy is ¢ntided to exemption from audii uttd¢r S¢ttiim 477 of the Conwanies Act 2006 for th¢ year end 31 March 2025. The melnbers have not required the ¢oJnpany to obtaith an audil of its finan¢ial statemcnts for the yeAr cnded 31 MaT¢h 2025 inaccordance with S¢¢tioll 476 of th¢ Companies Act 21M>6. Th¢ tmt¢es acknowledge theii r¢spoDsibilities for (&} ¢nsuring that the charitable ￿mpallY keeps accounting ￿COrdS that comply with S¢etions 386 and 387 of th¢ ConwaTLi¢S Act 2006 alld prcparing finattcial statements which giv¢ a tru¢ and fair view of the state of affairs of th¢ cknitable company as at the end of ea¢h financial yeor and of its surp]u5 ordeficit for each fin8n¢ial year in accordartte with the r¢quiTeirents of Sections 394 3nd 395 and which oth¢n4ise comply with the require￿¢￿15 Of the Companies Ad 2006 rclating to finan¢io1 statenRnts, so far as applicable to the charirable tompany. {bl The notes forEll part of ih¢se flnancial 5tatem¢nts P&g¢ 9 continued... Seed Sed or Balance Sh¢¢t- eoniinued 31 March 2025 Thes¢ flnancial st#iemet)ts h2ve been prepared it) accordance with tb¢ prow5iOD5 applicable to charitable ¢ompaDi¢S subject to the small companics regitne. The financial stateD]eDL% were spproved by the Board of Tnt5t¢e5 and authorisd for issu¢ on 23 Jgnugry 2026 and were Sibryjed on it5 behalf by.. F L Smith- Trustce The notes fomlpart of these fu￿nClaI statements Page 10 Sed the Financial Stst foi tb¢ Year Ended 31 Mar¢h 2025 ACCOUNTING POLICIES Basis prep*rlng th¢ finandAI 5t¥JteN]ent$ The financial statements of the chaTitable company, which is a public benefit entity ￿der FRS 102. have been pi¢par¢d in accordan¢¢ with th¢ Charitie5 SORP {FRS 1021 'AccouDtittg and Reporting by Chariti¢s'. statell￿nt of R¢¢ommended Practice applicable to charitlC5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in thc UK 2nd Republic of Ircland IFRS 1021 {¢ffe¢iÈve l January 2019}', Financial Reporting Standard 102 'The Financial R￿orting stalld￿d appli¢&ble in the UK and Republsc of Ireland, and the Conwiics Act 2006. Tbe fiNn¢ial ststenKnts hav¢ be¢0 prepared u1￿¢r the historical c05t convention. t]he4)nbe All irt¢tsme is recogni5¢d in the Ststement of Fift￿1¢187 Aclivitl¢s once the charity has entitlement io the it is probabl¢ thal the incornc will be r￿e1Ved and th¢ amount tan be measured reliably. Exptnditur¢ Liabiliiies are reco￿lS¢d as ¢xpenditur¢ a5 500A as ther¢ is a legal or constrjetive obligation ¢omrnitting the ¢baTity to thai expendibjre. ir i5 probable that a transfer of cconornic b¢n¢fits will be required iti settlen)ent and the amount of llie obligation can be mca5Uted reliably. Expenditure is accounted for on an acuuals basis ￿Ll has b¢¢n classifled und¢r headirtgs that aggreJte #ll eosi related to the rakgory. Where costs ¢annoi be directly attribut¢d to particular headings they hive bcen allocat¢d to activities on a bas'is consistent with the use of resources. Tanglble fixed *88¢t$ tkpre¢iation is Pro￿]d¢d at th¢ following annual rates in ordeT to write off each asset over ils ￿]Mated usefid lif& Fixtures aThJ fittings 15Yo on rcdu¢iDg baiaJK¢ Ta￿tIon Th¢ ¢hariry is exe]npt from ¢04)oration OD its charitable activitie8. Fund ace•urttlDg Unrestrictcd fi]nds ran b¢ us¢d in accordance with the charitable obje¢iives at the discretion of the trustce5. Restri¢ted fuDds can only b¢ used for particular restricted pvrp05es within the objccts of ib¢ charity. Rcstrictions ari5¢ when specifLed by the do]K>r or when fund5 raised for particular r¢s¢ri¢t¢d PUTposes. Furthcr explanation of the natUT¢ and pwpose of ea¢h ftindis it)¢lwled in the ￿1¢$ to the fin￿Cial ￿teMents. DONATIONS AND LEGACIES 31J25 31.3.24 Donations Grdnts 3JlO 241,025 1,386 317,605 244535 318.991 Pag¢ll continued... Seed Sed OOT Notes to ihc Finallcial Stat¢ment8- continued ror th¢ Year EDd¢d 31 March 2025 DONATIONS AND LEGACIES- eoDtinued Grants received. included in the above, ore follows.. 31.3.25 31.3.24 Burnhamthon4¢4 & Highbridg¢ Town Council Seafront An Bridgwater Town Council. Claslmwb Arts Council England Creauve People and P12¢es via Hotlle5 i]] Sedgemoor Severnsid¢- Hidden stsiion BACITowTh Council- Quaysid¢ Atiimating the Town fund- Hiddcn st&tithJ IIPC- High Strcct tskeover High strcct takeovcr Fairfield charity- core fi]uding National Gall¢ry- Art road trip Morrisons foundatio Clark FoutJd*ion 3,025 212,IMIO 500 294,445 10,550 1.190 3,400 6,670 850 4,000 10,000 1,000 2,$110 241,025 317,605 OThER TIWIINC AcrtVlTIES 3JJ.2S 31.3.24 Sponsorships Panicipant fee$ Corporate income Projecl iE)¢on 580 491 400 500 11,872 11324 12J95 12,772 INVESTMENT INCOME 31J.25 31.3.24 Jnt¢r¢$t wc¢ivabl¢- tradiDg li Pa8e 12 continued... Seed Sed emoor Not¢s to the Financial Sta ments- continued for the Year E￿Ied 31 Marcb 2025 CHAIUTABLE ACTivfTIES COSTS Support costs (see noie 61 Dircct Cosrs Totals Proitti costs Legal and profession#1 fe¢s Adverti51ng Accountancy Offi¢e ¢xpenses Bank chaTg¢s Sundrie5 Employment Costs Travel and 8ub515ten¢e Printing, posi and $tationery Est2bli5hment costs SubscriptioJ]5 Depreciation 121,090 7,886 121,090 7W6 1908 2.051 9,634 1,908 2.1151 9,634 232 232 117,147 076 93 1,055 424 84 117.147 4.076 93 424 84 257,333 8JS1 265,684 SUPPORT COSTS Governa￿¢¢ costs Advertising AccounLqncy Sundries TTavel and subsist¢n¢e 1,908 2,051 232 4,076 84 8JS1 Support costs, included in the above, are as follow5.' Advertising Aecountan¢y Sundries Travel and 5ttb$ist¢nce Adverii5ing 2,051 SuDdri¢s Depreciation of ton￿ble fixed asSCt5 232 1,908 2.051 232 Page 13 conliDued... S¢¢d Sed emoor Note5 to the Financial StateTnents- continued for th¢ Y¢ar Ended 31 March 2025 SUPPORT COSTS- tontinued 313.25 31.3.24 Trav¢l and subsistence Total aclivities Total a¢tivs1ies Depn¢iation Trav¢1 and subsistcncc Adyertisitsg Accountancy Sundries Depreci￿]0￿ of taDgible faxed ass¢ts 4,076 4,1176 IJ08 2.1151 232 84 5,538 4,141 1.091 2,598 99 4.076 8J51 13,467 NET [NCOM￿(EXPEND1TuRE) Net incomEI(exp¢ttdiwrel is stated atkr ¢hargJ"ngl{crediting).' 31J.25 31.3.24 DeprttiatiOD- owned assets 84 TRUSTEES, REh(UYERATION AND BENEFITS There werc no truste¢s' remullcration or oth¢r be￿fiTS for th¢ year end￿ 31 Mowh 2025 for the yew ended 31 Mar¢h 2024. Tru5tees' txpen$eJ Ther¢ w¢re no tru*es' ¢xp¢n$¢s paid for the year end¢d 31 March 202S nor for th¢ year ended 31 MaT¢h 2024. COMPARATJVES FOR THE STATEMENT OF FINAYCIAL ACTIVITIES Unrcstricted fimds R¢sth¢t¢d ds Total INCOME AND ENDOWMEP4TS FROM Donaiions and legacies 31>0,921 18.070 318,991 Other ttadits8 activities IDv¢styn¢rtt ittcon 12,772 12,772 Totsl 313,71K) 18,070 331,770 EXPENDITURE ON Charitable a¢tivitle8 Proj￿1 c05t5 l£gal and proftssional fecs Advertising AccountaDcy Offi¢¢ ¢Xp¢￿e8 Bank ¢harges 168,963 11,790 4,141 1,091 5.192 10.550 179,513 11,790 4.141 1.091 5.192 Page 14 continued... Seed Sed ¢moor 'otes to the Financial StatemeDts- COJJtinu for th¢ Year Et￿ed 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FIN￿WeL*L ACTIVJTIES- tontinued UnT¢SttiCted R¢5tri¢t¢d funds Total Suthes Employment ¢o$ts Travel aThJ subsistence PrilltiDg. p)$1 and stalioncry Estabbshment Costs Subscriptions D¢￿latiO 2,598 109,419 5,538 148 2,598 109,419 5,538 148 894 344 99 344 Totsl 310,220 10,550 320.770 NET INCOME 3,480 7,520 11,000 REcof4CILtATION OF FUNDS Total funds brought fonvard 10,920 10.920 TOTAL FUNDS CARRIED FORWARD 14,400 7,520 21,920 TAIYGIBLE FIXED ASSETS Fixtures and fittings COST At l April 2024 and 31 March 2025 774 DEPRECIATION At l April 2U24 Chargc for ￿ar 215 84 At 31 Marth 2025 29Y NET BOOK VALUE At 31 Majrh 2025 475 At 31 Marcb 2024 559 Page 15 continu¢d... Seed S oor Notes to ihc Finan¢ia] Stat¢m¢nis- continued ror th¢ Year E[￿ed 31 March 2025 DEBTORS: Amoufm FALLING DUE WITHIN ONE YEAR 31J.25 31.3.24 Trdde debtors Other deb¢or$ PrepayJr¢nts alld accrued it)come 905 3.504 859 1.584 925 S268 2,509 12. CREDITORS.. AMOUNTS FALLINC DUE WITHIN ONE YEAR 31J.25 31.3.24 Trade creditors Social SCCUTity attd oiher taxes Other ¢r¢ditors Accrua15 and def¢rrcd incomc 9,160 15,033 2.769 512 L.350 IJSO iojio 19,664 13. MOVEMENf Iiy FUNDS Net movem¢ni iTh fvDd$ At 31.3.25 At 1.4.24 Unrestricted funds General fund Sedgemoor District Council- ￿ldgWater High Str¢ 4,400 (6,223) (1.823) 10.ooo 10,000 14,41XI (6223) 8,177 Restricted funds HPC- High street takeov¢r High Street takcover Fairfi¢ld ¢han"ty_ Core funditig 6,67 850 (A670) (¥so> 5,001) 7,52 (1520) soo TOTAL FUNDS 21,92 1&743) 13,177 Pag¢ 16 continued... StdThoor Not¢s the Financi￿ S nts- continued for th¢ Year Ended 31 Mar¢h 2025 13. MOVEMENT IN FUNDS- eoTrtlnll¢41 Net wM)vement in fimds, included in tkn above arc as follows.. In¢otnin8 resour¢es Resour¢ cxpeTyJed Movement ID fi]nds Urtrestrkted fuRd5 Gcnerdl fund 236,441 {242,664) (6.2231 Reslrieted fund5 HPC- High street takcov¢r High 5tre¢t tskeover Fairficld charity- Cor¢ fill)ding Morrisons foundatio C]￿k Foundation (6,670) {850) (5.000) {8,OlJOI {2,51KI) (6,670) (85111 5,01)0 10.000 8,0110 2,5110 20AIIII (23,020) {2J2O} TiYfAL FUNDS 256.941 (265.6841 {8,743) Con¥aratIv￿ for movement In fMndJ Net movem¢nt in fvnds At 31.3.24 At 1.4.23 Unrestritted fvllds General fill)d Sedg¢m￿r Dtstrict Council- Bridgwater High Strttt 920 3,480 4,400 10,000 10,000 10,920 3.480 14.400 Restrkttd fund5 HPC- High sttcct takcover High street takeover 6,670 850 6,670 850 7.520 7,520 TOTAL Fuf*DS 10,920 11,000 21.920 Page 17 continwl... Seed S¢d cmoor Notes tts the FIT￿￿¢1#] Statements- contiTw¢d for the Year End¢d 31 March 2025 13. MOVEMENf IN FUNDS- contAnued Comparative net movement in funds. inGluded in the abnve are as follow5: I￿rning rcsources R¢souT¢¢$ expended Movement in fimds UDre5tri¢ted funds General fund 313,700 {310220} 3,480 Restricted fulld$ HPC- High $tre¢t tskeover Sev¢rnside- Hidden &titioD HÈgh 5tr¢¢t takeover 6,670 10,550 850 6,670 (10.550) 850 18.070 110,550) 7,520 TOTAL FUNDS 331,770 (320,770) I,ooo A currellt ycar 12 Mo￿h5 alld prior ycar12 months cornbined position is as follows: Net At 31.3.25 At 1.4.23 infits Unrestrlrt¢d funds Getheral fimd S¢dgemooT Distri¢t Coullcil - BridgwAter High Street 920 (2,743) 11,8231 10.000 io,000 10,920 (2.743) 8.177 Restrlei¢d funds Fairfield clArity- Cor¢ funding 5,000 5.000 TOTAL FUNDS 10,920 2,257 13.177 Page 18 Continwl... oor Note$ i the FinaTKI￿ St#ie cnts- continued foT lh¢ Year Ended 31 Mar¢h 2025 13. MOVEMENf IN FUNDS- ¢ontinDed A current yeir 12 months and prior year 12 n]onth5 combined tlel ]llLivemelll in fund5, includ¢d in the above are as follows.. Inconjing re50Uf¢¢S Resources expended Movement in funds Unrestrlettl funds General fund 550,141 {552.884) (2.743) Re$trl¢ted r￿Thd5 HPC- High strcct tsk¢over S¢vern5ide- Hidden stalion High street tsk¢over Fairfjcld Charity- Core funding Morrisons foundation Clark Foundation 6.670 10.5SO 850 10,IM)O (6,670) 110,550) {850) (5,000) {8.000) {2,500) 5,000 2,500 38,570 133.570) TOTAL FUE4DS 588,711 (586,454) 2.257 14. RELATED PARTY DISCLOSURES There w¢r¢ no related paty transactions for the ycarended 31 March 2025. Page 19 Sttd Sed emoor Detailed Statement of Financial Act vities for the YraF Ended l March 2025 31.3.25 31.3.24 IF4COME AND ENDOWMEf4TS Donatlons and l¢g&eie5 Donations Grants 3,510 241.028 1,386 317,60S 144,535 318,991 Other trading #etfvltl Sponwtyhips Participani fees Corporate income Projcct income 491 500 11.872 liJ24 12J95 12.772 Investment Inctsme Interest receivable- trading Totsl ill¢omlng r¢sources 256.941 331,770 KXPENDITURE Charit*ble #etlvltlts Projcct costs En)plownent costs E518bli5hmetst costs OffJc¢ expense5 Pn"niing. post and stationcry Subscriptions Bank charges L¢¥al and professiunal 118,590 117,147 1.055 12,134 93 424 179,513 109,419 894 5,192 148 344 7N6 11.790 257J33 307,303 Support co&t$ Gtyv¢rngnce cost5 Travel aDd sllbsistence Adyertising Accoulltsllcy Sundries Fixtures and fittings 4,076 1908 2,OSI 232 5.538 4.141 1,091 2.598 8J51 13,467 This page does tsot fomipart of the 51atutory financial sratements Page 20 Seed Sed oor Detsiled Statem¢nt of Fintttscial Activities foi the Year E￿de 31 March 2025 31.3.25 31.3.24 Total resources expended 265,684 320,770 Net {expendlture)Ilnfome 18,743) 11,000 This page does noi forni part of the statutory fit￿n¢la] 5tatemeT P8g¢21