2025-03-31-accounts

Charity number: 1196379

SEACHANGE DEVON

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

SEACHANGE DEVON

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 12
Independent examiner's report	13 - 14
Statement of financial activities	15
Balance sheet	16 - 17
Statement of cash flows	18
Notes to the financial statements	19 - 34

SEACHANGE DEVON

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees	S Hicks, Chair (resigned 30 September 2025)
	A Hood (resigned 30 August 2024)
	L Jacques
	S Thomas (resigned 30 September 2025)
	I Christie
	R Mejzner, Chair from 1 August 2025
	S Tibbitts (appointed 1 September 2024)
	R Bowes (appointed 30 September 2025)
Charity registered number 1196379 Principal office 3 East Budleigh Road Budleigh Salterton EX9 6HF Accountants Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ

Page 1

Trustees Report 2024-2025

Seachange Devon's annual report showcasing our commitment to improving health, wellbeing, and community connection across East Devon

Page 2

Structure, Governance and Management

Constitution

Seachange is a charitable incorporated organisation governed by its constitution dated 3rd November 2021.

Our governance structure ensures accountability, transparency, and effective oversight of all charitable activities.

Method of Appointment or Election of Trustees

Trustees are appointed for a period of three years ensuring a sufficient overlap of time served to aid continuity of experience. Trustees are appointed by the chair following a positive election by all current trustees. External bodies do not have a right to appoint trustees.

Governance Structure: Our three-year trustee terms ensure continuity whilst allowing for fresh perspectives and expertise to join our leadership team.

Objectives and Activities

Seachange Devon is a registered charity that seeks to benefit the inhabitants of Woodbury, Exmouth and Budleigh Salterton and the surrounding area by the provision of facilities for the preservation and the protection of good health and wellbeing, as well as those in the interests of social welfare, regardless of age, infirmity, disability or financial circumstances, with the object of improving the condition of life.

Seachange provides health and wellbeing services for people of all ages across the communities of Woodbury, Exmouth, and Budleigh Salterton. Our focus is on supporting those most in need—whether due to age, physical or financial circumstances, or social challenges. Through our facilities, activities, and partnerships, we aim to improve people's quality of life, promote happiness, and strengthen resilience against both physical and mental ill-health.

A central part of our mission is to combat loneliness and social isolation. We believe that the most effective way to achieve this is through socialisation—bringing people together to form friendships, connections, and a sense of belonging.

Physical Wellbeing

• Low-impact and chairbased exercise classes Gym sessions and walking groups Cycling groups and table tennis

Social Connection

• Sewing and activity groups for older people Memory cafés and singing groups Film Club and dining events

Specialist Support

• Carers' groups and Parkinson's support Bereavement groups Community transport and Hope Programme

Many of these activities are detailed further in our annual review, demonstrating the breadth of opportunities we provide for people to connect, stay active, and feel supported.

Looking forward, Seachange is committed to continuing its growth and evolution. We see a particular opportunity to expand our services in Exmouth, where the demand and potential for impact are especially strong.

The Role of Volunteers

Volunteers are at the heart of Seachange and play a vital role in our daily operations. From driving for community transport, to facilitating activities such as Film Club, Memory Café, and singing groups, to supporting fundraising efforts, our volunteers contribute invaluable time and expertise.

100+

6

32K

£380K

Active

Volunteers

Dedicated individuals supporting our mission

Average Hours

Per volunteer per week

Annual Hours Estimated Value

Total volunteer Annual financial contribution equivalent

Over 100 volunteers generously give an average of six hours per week, amounting to more than 32,000 hours a year. This contribution equates to an estimated financial value of £380,000 annually—a testament to the scale of their commitment and the importance of their role in making our services possible.

Public Benefit

All of Seachange's activities lead to our community living longer, better lives. This is not only good for the individual but also good for the health and social care sector.

Healthcare Savings: We estimate from our falls prevention and loneliness work we save that sector over half a million pounds a year.

Individual Wellbeing

Improved physical and mental health outcomes for community members through targeted support and activities.

System Benefits

Reduced pressure on NHS and social care services through preventative communitybased interventions.

Regular Thursday Sessions

Weekly activity club attendance providing consistent social connection

Monthly Film Club

Enjoying cinema experiences with new friends

Day Trips

Participating in Seachange organised outings and adventures

Book Club

Joining our new reading group for literary discussions

6

Achievements and Performance

Many of our key achievements are mentioned in our annual review which follows this report. We would like to highlight our three year Lottery Funded grant of £180,000 which will enable us to expand our work and help more people.

£180,000 Grant

Three-year Lottery funding secured to expand our services and reach more people in need.

Diversified Income

Successfully raised funds from individuals, businesses, grants and contracts, creating financial sustainability.

Financial Surplus

Achieved our aim to increase overall income and generate a surplus for future development.

Fundraising is key to the long term sustainability of the charity. This year we have achieved our aim to raise funds from individuals, businesses, grants and contracts. This has enabled us to increase our overall income and make a surplus.

Record Reach

Seachange is reaching more people than ever. Including the number of people who come into our building, use our services, take part in our activities and those who receive advice and signposting we estimate we had over 70,000 interactions last year.

Weekly Impact

We hold over sixty-five activity sessions a week in East Devon, providing consistent support and connection opportunities for our community.

7

Kathy's Story: A Life Transformed

"You suddenly find you're really lost."

After 61 years of marriage, Kathy was isolated and lonely following the death of her husband. Her limited mobility made getting out of the house and meeting people difficult. She felt lost and abandoned.

Kathy heard about Seachange via another local charity and decided to attend our Thursday activity club. She left the first one thinking, "It's not for me," but fortunately, her daughter-in-law persuaded her to return.

Kathy says, "It's never good the first time, as you don't know anyone. So, I went a couple more times, and I started to love it. When you first come you're worried about remembering people, and then you realise it doesn't matter. You get to know the people sitting on either side of you. Then, you slowly get to know everyone else. It's lovely."

Thursdays are now the highlight of Kathy's week.

Kathy's physical disability means she can't get to Seachange on her own, so our volunteer drivers collect her from home on our community bus and bring her to the door. She finds the banter on the bus as much a highlight as the activity itself!

We asked Kathy, "What does Seachange mean to you?" and she replied:

"When I first started coming here, it changed my life. I can't imagine my life without Seachange. I don't know what I'd do without it. I really don't."

8

Financial Review

During the year, the charity received total income of £667,053and had total costs of £620,003 giving a surplus of £47,050. The charity had budgeted for a surplus of £10,000 and has outperformed the budget due to increased income generated from classes and the gym. This leaves the charity in a strong financial position and will enable additional project work to be undertaken over the course of the next financial year.

Activities & Gym

Primary income source from membership fees and class participation

Room Rental

Revenue from hiring out facilities to community groups

Grant Funding

Support from generous local and national grantgiving organisations

The charity receives its principal source of funding from income received from activities and gym membership. It also receives money from room rental. Funding is also received from generous local and national grant giving organisations.

Budget Performance: We

outperformed our budgeted surplus of £10,000, demonstrating strong financial management and growing community support.

The principal risks to the charity are recorded in the charity's risk register. These are regularly reviewed by the trustees and actions follow as and when required. The trustees are satisfied that systems are in place to mitigate those risks.

Investment and Reserves Policy

Investment Policy

Reserves Policy

Seachange does not hold any investments and does not intend for the foreseeable future.

The Trustees are working towards a goal of the charity having reserves sufficient to cover at least three months' operating costs. The charity is relatively newly formed and this may take a few years to achieve, but the Trustees are pleased with the progress in building reserves to date.

Current Free Reserves: £33,017

Current Future Security Position

Financial stability Building reserves for long-term steadily since sustainability formation in 2021

Target Goal

Three months' operating costs in reserve

Plans for Future Periods

Seachange has already made a lasting difference in the lives of many people, but loneliness and social isolation remain ongoing challenges. These are not issues that will disappear on their own, and Seachange is committed to addressing them in a sustainable and focused way for the long term.

Scalable Growth Focused Impact Exmouth Expansion Plans that are both Refining strategies to Establishing a dedicated achievable and ensure support reaches base where 65% of our sustainable, building on those most in need users are located proven approaches

Looking ahead, Seachange's plans are both scalable and achievable. As the organisation learns and adapts, it will refine its strategies to ensure support reaches those most in need. With over 65% of Seachange users based in Exmouth, this area represents the greatest opportunity for impact.

Establishing a dedicated base in Exmouth will create a strong foundation for growth, provide a hub for community connection, and amplify Seachange's ability to bring people together.

By building on proven approaches and concentrating resources where the need is highest, Seachange is well placed to expand its reach, deepen its impact, and continue tackling isolation in a practical, effective, and sustainable way.

Strategic Focus: 65% of our users are based in Exmouth, making it our priority area for expansion and development.

SEACHANGE DEVON

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

21/01/2026

S Hicks

(Chair of Trustees)

Page 12

SEACHANGE DEVON

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent examiner's report to the Trustees of SEACHANGE DEVON ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 13

SEACHANGE DEVON

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated:

Laura Waycott FCA for and on behalf of Griffin Chartered Accountants Courtenay House Pynes Hill Exeter EX2 5AZ

Page 14

SEACHANGE DEVON

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note Income from: Donations and legacies 4 Charitable activities 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Restricted funds 2025 £ 148,961 - - 148,961 100,167 100,167 48,794 - 48,794 48,794	Unrestricted funds 2025 £ 224,304 292,788 1,000 518,092 519,836 519,836 (1,744) 34,761 (1,744) 33,017	Total funds 2025 £ 373,265 292,788 1,000 667,053 620,003 620,003 47,050 34,761 47,050 81,811	Total funds 2024 £ 244,468 355,370 500 600,338 549,732 549,732 50,606 (15,845) 50,606 34,761

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 19 to 34 form part of these financial statements.

Page 15

SEACHANGE DEVON

BALANCE SHEET AS AT 31 MARCH 2025

Note Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 16 Unrestricted funds 16 Total funds	450 58,208 71,565 130,223 (118,708)	2025 £ 70,296 70,296 11,515 81,811 81,811 81,811 48,794 33,017 81,811	250 89,768 64,057 154,075 (123,027)	2024 £ 3,713
				3,713 31,048
				34,761
				34,761
				34,761
				- 34,761
				34,761

Page 16

SEACHANGE DEVON

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

The financial statements were approved and authorised for issue by the Trustees on _______ and signed on their behalf by:

21/01/2026

S Hicks

(Chair of Trustees)

The notes on pages 19 to 34 form part of these financial statements.

Page 17

SEACHANGE DEVON

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/provided by investing activities Cash flows from financing activities Bank charges Net cash used in financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 19 to 34 form part of these financial statements	2025 £ 84,625 (73,250) (73,250) (3,867) (3,867) 7,508 64,057 71,565	2024 £ 43,239 - - (3,041) (3,041) 40,198 23,859 64,057

Page 18

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

Seachange Devon is a registered charity that seeks to benefit the inhabitants of Woodbury, Exmouth and Budleigh Salterton and the surrounding area by the provision of facilities for the preservation and the protection of good health and wellbeing, as well as those in the interests of social welfare, regardless of age, infirmity, disability or financial circumstances, with the object of improving the condition of life.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Seachange Devon meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 19

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Solar panels	-	4% Straight-line
Motor vehicles	-	25% Reducing balance
Fixtures and fittings	-	15% Reducing balance

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 20

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 21

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

There are no critical estimates or assumptions within these accounts.

4. Income from donations and legacies

Donations & gifts Grants Donations & gifts Grants	Restricted funds 2025 Unrestricted funds 2025 £ £ - 122,498 148,961 101,806 148,961 224,304 Restricted funds 2024 Unrestricted funds 2024 £ £ - 161,533 65,468 17,467 65,468 179,000	Total funds 2025 £ 122,498 250,767
		373,265
		Total funds 2024 £ 161,533 82,935
		244,468

Page 22

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from charitable activities

Unrestricted funds 2025 £ Sales within charitable activities 292,788 Unrestricted funds 2024 £ Sales within charitable activities 355,370	Total funds 2025 £ 292,788
	Total funds 2024 £ 355,370

6. Other incoming resources

Other income Other income	Unrestricted funds 2025 £ 1,000 Unrestricted funds 2024 £ 500	Total funds 2025 £ 1,000
		Total funds 2024 £ 500

Page 23

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities Charitable activities	Restricted funds 2025 Unrestricted funds 2025 £ £ 100,167 519,836 Restricted funds 2024 Unrestricted funds 2024 £ £ 79,192 470,540	Total 2025 £ 620,003
		Total 2024 £ 549,732

8. Analysis of expenditure by activities

Charitable activities Charitable activities	Activities undertaken directly 2025 £ 575,274 Activities undertaken directly 2024 £ 508,162	Support costs 2025 £ 44,729 Support costs 2024 £ 41,570	Total funds 2025 £ 620,003
			Total funds 2024 £ 549,732

Page 24

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Depreciation & impairment Rent Water rates Light & heat Property repairs & maintenance Equipment hire & repairs Cleaning & refuse collection Fundraising expenses Marketing & promotion Instructor hire Motor expenses Meals & entertainment Room hire Volunteers training & mileage Grant expenses Afghan refugee project expenses Other charitable expenditure Staff travel & training	Total funds 2025 £ 265,661 6,667 71,862 3,424 31,410 38,470 1,689 52,046 3,361 18,275 13,265 5,762 18,439 1,188 10,246 25,762 - - 7,747 575,274	Total funds 2024 £ 222,762 1,097 68,033 3,740 46,616 38,599 3,439 47,556 203 4,745 14,600 6,000 21,881 742 11,306 13,520 32 139 3,152
		508,162

Page 25

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Printing, postage & stationery Telephone & internet Computer software & maintenance Insurance Bookkeeping & payroll administration Legal & professional fees Bank charges Subscriptions & publications Governance costs	Total funds 2025 £ 3,348 3,710 12,650 5,137 2,506 9,449 3,867 1,722 2,340 44,729	Total funds 2024 £ 1,289 2,514 10,064 4,278 5,076 12,374 3,041 594 2,340
		41,570

9. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £2,340 ( 2024 - £2,340 ).

Page 26

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Staff costs

2025 £ Wages and salaries 252,945 Social security costs 9,081 Contribution to defined contribution pension schemes 3,635 265,661 The average number of persons employed by the Charity during the year was as follows: 2025 No. Employee numbers 21	2024 £ 211,781 7,724 3,257
	222,762
	2024 No. 18

No employee received remuneration amounting to more than £60,000 in either year.

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 27

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. Tangible fixed assets

Cost or valuation At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Solar panels £ - 46,894 46,894 - 1,876 1,876 45,018 -	Motor vehicles £ 5,000 - 5,000 2,188 703 2,891 2,109 2,812	Fixtures and fittings £ 1,247 26,356 27,603 346 4,088 4,434 23,169 901	Total £ 6,247 73,250
				79,497
				2,534 6,667
				9,201
				70,296
				3,713

13. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	450	250

Page 28

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Debtors

Due after more than one year Other debtors Due within one year Trade debtors Prepayments and accrued income	2025 £ 16,250 16,250 19,246 22,712 58,208	2024 £ 16,250
		16,250 68,486 5,032
		89,768

15. Creditors: Amounts falling due within one year

Trade creditors Other taxation and social security Other creditors Accruals and deferred income	2025 £ 101,475 3,688 6,742 6,803 118,708	2024 £ 56,535 3,461 6,652 56,379
		123,027

Page 29

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Statement of funds

Statement of funds - current year

Statement of funds - current year
Unrestricted funds General Funds Restricted funds Community Activities Cost Of Living Loneliness & Isolation Project Solar Panels Wheelchair grant Total of funds	Balance at 1 April 2024 £ 34,761 - - - - - - 34,761	Income £ 518,092 32,688 4,915 60,688 46,894 3,776 148,961 667,053	Expenditure £ (519,836) (32,688) (4,915) (60,688) (1,876) - (100,167) (620,003)	Balance at 31 March 2025 £ 33,017
				- - - 45,018 3,776
				48,794
				81,811

Page 30

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Statement of funds (continued)

Restricted funds represent specific projects which are restricted by virtue of their funding contracts.

Community Activities

Provision of physical and social activities to promote good health:

• Barchester; Sewing machines for sewing group in memory café

• COOP; Funds toward memory café

• Edgar Lawley; Monies for Christmas meal for activity club

• Exeter Chiefs; Gardening equipment re gardening for health project

• Woodroffe Benton; Funds for memory café

• Library Support Fund; Lighting for reading

• Hendy Foundation;Funding for carers support group

Cost Of Living

Practical help to support those in a cost-of-living crisis.

• National Grid; Funds for warm winter clothing goods

• National Lottery; funds for winter food and cooking

Loneliness & Isolation Project

Over-arching project to reduce loneliness and social isolation in East Devon:

• Transport Restricted; Community transport allowing clients to access services

• Clare Milne; Restricted funds from community transport towards volunteers fuel expenses

Solar Panels

The Solar Panel Restricted Fund comprises donor-restricted income designated exclusively for the capital expenditure associated with the acquisition and installation of solar panels at the charity’s premises. Under the terms of the restricted funding, these resources may be applied solely to the purchase, installation, and directly attributable capital costs of the solar energy project. Expenditure is capitalised in accordance with the charity’s accounting policies, and the year-end fund balance reflects the net book value of the related fixed assets after recognition of depreciation for the period.

Wheelchair grant

Grant from East Devon County Council to fund mobililty projects.

Page 31

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds General Funds Restricted funds Community Activities Cost Of Living Loneliness & Isolation Project Total of funds	Balance at 1 April 2023 £ (29,569) 5,499 2,225 6,000 13,724 (15,845)	Income £ 534,870 3,236 47,315 14,917 65,468 600,338	Expenditure £ (470,540) (8,735) (49,540) (20,917) (79,192) (549,732)	Balance at 31 March 2024 £ 34,761
				- - -
				-
				34,761

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets Debtors due after more than one year Current assets Creditors due within one year Total	Restricted funds 2025 Unrestricted funds 2025 £ £ 45,018 25,278 - 16,250 3,776 110,197 - (118,708) 48,794 33,017	Total funds 2025 £ 70,296 16,250 113,973 (118,708)
		81,811

Page 32

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets Debtors due after more than one year Current assets Creditors due within one year Total	Unrestricted funds 2024 £ 3,713 16,250 137,825 (123,027) 34,761	Total funds 2024 £ 3,713 16,250 137,825 (123,027) 34,761

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Decrease/(increase) in debtors (Decrease)/increase in creditors Decrease/(increase) in stock Net cash provided by operating activities 19. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents	2025 £ 47,050 6,667 3,867 31,560 (4,319) (200) 84,625 2025 £ 71,565 71,565	2024 £ 50,606 1,097 3,041 (67,546) 56,041 - 43,239 2024 £ 64,057 64,057

Page 33

SEACHANGE DEVON

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Analysis of changes in net debt

Cash at bank and in hand	At 1 April 2024 £ 64,057 64,057	Cash flows £ 7,508 7,508	At 31 March 2025 £ 71,565
			71,565

21. Pension commitments

The Charity operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Charity in an independent administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £3,635 (2024: £3,257). Contributions amounting to £742 were payable to the scheme at 31 August 2025 (2024: £652) and are included within creditors.

22. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025.

Page 34

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