harity registratlon number 290967 (England and Wales)
Company registration number 01879345
TOTNES TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

TOTNES TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Mr P Ghurch
Mr M D Higgs
Mr R C O'connell
Mr R J P Milchell
Mrs L Pilknnglon
s J Seymour
(Appointed 1 June 2025)
Charlty numb8r
290￿7
Company number
01879345
Registered office
Bartons SoliciloT5
9 Town Quay
The Plains
Toln85
TQ9 5DW
Independent examiner
Mr Jason Milden FCCA
Darnells Chartered Accountants
30 Fore Street
Totnes
Devon
TQ9 5RP

TOTNES TRUST
CONTENTS
Page
Trustees. report
Independent examinerfs report
Statement ol financial actimlies
Ba18nce Sheet
Notes lo the financial statemants
6-13

TOTNES TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounllng policies sel OLrt in note 1 to the
financial stalemenls and comply with the Charfty's Memorandum and Articles of Association, the Companies Act
2006 and "Accounting and Reporting by Ch8ritie5'. Statement of Recommended Practie applicable lo charities
preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the IJK and Republi¢ of
Irgland IFRS 1021 leffecb've 1 January 20191".
Oblectlves and actlvities
The objectives of the Trust are to pursue any charitable purpose for the benefit of the inhabilanls of Totnes and the
surrounding area, and for the general public. vAth the airn that the town shall take its rightful place as one of the
most historic, attradive and economi¢ally vibrant srnall towns in Europ8 and in furtherance and pursuance of Ihbs
gener81 object and for the athiance of the general public
al to act lo conserve and improve the town's historic building heritage,
bl to act lo conserv8. improve and create useful and beautiful public spaces wlhin the town,
cl lo act on any other public realm matter5 which complement and enhance the lovm's buildings and spaces, and
the enjoyment of them by local people and visitors.
dl lo act in support ol a successful, entrepreneurial and sustslnable local economy,
el to work creatively and where appropriate in part￿rShIP with other local Organ￿allons committed to smilar
objects.
fj to promote the acb.ve voluntary engagement of ciloens wlh the objects ofthe Trust.
Public b&nefft
In all activities undertaken by the Trust, the Trustees have taken into acwunt The Charity Commission guldan¢e on
public benefit and, in our opinion, all tsl the activities have benefitted the public.
The Charity provides public benefit by offering financial and project management skills to help lo¢¥l groups deliver
projects to support econorllic, environmental and social regeneration, working in partnership with other community
organisations and lo¢al aulhorilies.
Achievements and perfomian¢e
S￿nif￿an1 activities andachievemenls against objectives
The main activity of the Trust this year was the external refufbishment of Town Mill, the principle asset of the Trust.
This was ¢ornpleled by a local tradesman lo a high standard. th& work being ertrordinated by two of the Tw5tees.
The Charity continued lo support the work of Jammbng Ststion and Totnes Image Bank, the latter being offered a
further extension to their lease arrangement.
The T¥usl also made ￿ gian15 to local causes, £450 was awarded lo the Mansion towards solar panels On the roof
of the library and £1.712 was awarded to the Lee¢hwell Gaidens Association towards funding a horticullurist and
volunteer C￿OrdInat0r.
Flnanclal revlew
There was a deficit of income over expendiiure fcw the year of £5,521 12024.. surplus of £S,6821.
The Trust reeèived a grant of £10,000 frlin Morrisons in the year towards thè Colebrook Lane proiect and the
Trustees are grateful for this support.
Resewes poI￿Y
The Trustees policy is lo maintain free reserves of al least £30.000 to cover maintenance of the building and the
possibility of the premises being vacant and no rental income bein9 received during the vacancy. £14,571 was
dgslgnateLI for this PUTpose al th& year erHI.

TOTNES TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Structure. governance and mana9oment
The Charity is Gonlrolled by il's governing document, Memorandum and Articles of Associ*lon tlaled 21 January
1985 as arllended by Speaal Resolution dated 17th Novotnber 2014 adopting new Arti(Jes ot Association and
¢onstilules a limited company, limited by guarantee, as defined by the Companies Act 2006.
11 was registered as a charity with The Charity Comrnission in En9land and Wales on 23rd January 1985.
The Trustees, who are also the direclors for the purposé of Cornpany law, and who seNed during the year and up lo
the dale of signabjre of the financial statements We￿..
Mr P Church
Mr I C Franklin
Mr M D Higgs
Mr J O Logie
Mr R C O'connell
Mr R J P Mitchell
Mrs L Pilkinglon
Ms J Seymour
(Resigngd 1 June 20251
(Resigned 20 Decemb¢r 20241
(Appointed 1 June 20251
Re¢ruitrnenl and ?ppointmenl of tmstees
lthen appointing new Trustees tha Board of Trustees take Snto account the appropriate skills. knowledge and
motivation of potential appoinlees.
The report has been pwpared in accordance with the speual prowsions relating to small ¢ornpanie5 within Part 15
ofthe CompaniesAct.
The Truslég$' report wa5 approved by Ihe Board of Trustees.
/LIA
Mrm D Higgs
Trustee
Dale..
0811212025

TOTNES TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF TOTNES TRUST
I report lo the Trustees on my exarninalion of the financial slalemen15 of Tolnes Trust Ilhe Charity) for the year
ended 31 March 2025.
Responslbllltles and basis of report
As the Trustees of the Charity land also ils directois ftsr the purposes of company lawl, you are reSponsi￿e foT
the preparation of the financial statements in accordance with the requirements of the Companies Act 20C6.
Havin9 s*lsfied myself that the financial statements ol the Charity ale no)1 required lo be audited under Part 18
of the Cornpanies Act 2006 and are eligible for independent examination, I report in respect of my examination
of the Ch8rily'5 financial statemènts carried out under section 145 of the Charities Act 2Q11. In carrying out my
exarninalion I have followed the Directions given by the Charity Commission under section 14515llbl of the
Charities Act 2011.
Indepèndènt èxaminerfs statement
I have completed my examination. I confirm that no matters have come lo my attention in ¢onnedion with the
examination giwng me Cause lo believe that in any tnalerial respect..
accounting records wère not kept in respect ol the Charity as required by section 386 of the Cornpanie5
Act 2006..
Ihe fin3n¢ial 51alernents do not a¢¢ord with those records,- or
the financial statements do not comply with the accounting requirements of section 396 of the Companies
Act 2006 other than any reqU1￿ment that the financial statements glve a true and fair view, which is not
matter Gonsidered as part of an independent exarnination.. or
the financial statements have not been prepaTed in accordance with the methods and principles ol the
Statement of Recommended Practice for accounting and reporting by charflles applicable to charities
preparing their financial statements in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021.
I have no concems and have come across no other matters in connection with the examination to whith
attention should be drawn in this ieport in order to enablè 8 proper understanding of the finanaal stslemen15 to
be reached.
Jason Milden FCCA
Damells Chartered Accountants
30 Fore Street
Totnes
Devon
TQ9 5RP
Dated..
0411212025

TOTNES TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted RÈstri¢ted
funds
funds
2025
2025
Total Unre5tri¢ted Restricted
funds
funds
2024
2024
Total
2025
2024
Nots
Income from-
Donations and legacies
Inve51rnenls
145
17,096
10,000
10.145
17,096
500
17,353
500
17.353
Total income
17.241
10.OCH)
27.241
17.853
17.853
Expenditure on:
Charitable actiwtiès
32,234
528
32.762
11,951
220
12.171
Total expenditure
32,234
528
32,762
11,951
220
12,171
Net incomellexpenditurel and
movgm•nt in fur]ds
114,9931
9.472
15,5211
12201
5,682
Rèconciliation of funds:
Fund balances at 1 April 2024
43,027
20
43.047
37,125
240
37.365
Fund balances at 31 March
2025
28,034
9,492
37,526
43,027
20
43,047
The slalemenl of financial activities includes all gains atKI losses recognised in the year. All income and expenditure
derive from continuing activities.

TOTNES TRUST
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
Flxèil ass8ts
Tangible assets
Investments
10
20,000
26,032
20,003
28,035
Cvrrent assets
Oeblors
Cash al bank and in hand
11
1,254
19,151
31S
17,957
20.405
18.272
Credltors: amounts falllng due within
onè yèar
12
12.8821
11,2601
Net current assets
17,523
17,012
Totsl assets less current liabilities
37,526
43.047
The funds of the Charlty
Restricted income funds
Unreslrlcted fvnds
13
1S
9.492
28.034
20
43,027
37,526
43,047
The company is entitled lo the exemption frorn the audit reqlurement contained in seth'on 477 of the Companies Act
200S, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for Complying with the requiremen15 of the Companies Act 2006
with respect to accounting re¢Drds and the preparatson of financial statements.
The members have not required the company to obtain an audr( of ts financial st*emgnts for Ihg ygar in question in
accordance with section 476.
These finanaal slalemenls have been prepared in accordance with the provisions applicable to companies subje
to the small companies regime.
0811212025
Thg finan¢ial $tal¢mgnts were approved by the Trustees on ........ .
Mr M D Hlg9S
Trustee
Company registration number 01879345 {England and Vwdles)

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng poli¢ies
harity information
Totnes Trust Is 8 private c£Jmpany limited by gua¥antee incorporated in England and Wales. The registered
officè is Barton5 Solicitors. 9 Town Quay, Tolnes. Devon, TQ9 5DW.
1.1 Accounting conventlon
The ffinancial statements have been prepared in awordance with the Charity's Memorandum and Articles of
Association,
the Companies A¢t 2006 and "Accounting and Reporting by Charities. Statement of
Recommended Praclice applicablè lo charities preparing their accounts in accordance wlth the Finanaal
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effectwe 1 January 20191" The
Charily is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for ¢harilie5 apptying FRS 102 Update
Bulletin I not to prepare a Slalement of Cash Flows.
The financial statements are prepared In sleding, which is the funclional currency of the Charity. Monetsry
amounts in these financial statemènts are rounded to the nearest £.
The financial statemènts have been prepared under the h1stor￿al ￿$t Convention. The principal accounting
poliaes adopted are set out below.
1.2 Going concern
At the time of apprtsving the financial slalemenls, the Trustees have a reasonable expectslion that the Charity
has adequate resources lo continue in operational existence for the foieseeable future. Thus the Trustees
continu9 to adopt the going con￿rn basis ol accounting in preparing the financial stalemenls.
1.3 Charitsble funds
Unrestricted fttnds can bè used in accordance with the charitable obiectThies at the discretion of thè Twslees.
Designated lunds comprise funds which have been sel aside al the discretion of the Trustees for specific
purposes.
Reslrided funds can only be used for particular restricted purposes within the objects of the Charity.
Restrictions arise when specified by the donor or when funds are raised for particular purposes.
Further explanation of the nature and purpose of each fund is induded in Ihe notes to the financial
statements.
1.4 Incomè
All income is recognised in the Slalernenl of Financial Activities once the Charity has entitlement to the funds.
it is probable that the income will be received and the amount can be measured reliably.
1.5 Expenditur•
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
Charity lo that expenditure. il is probable that a transfer of economic benefits will be required in selllemenl
and the amount ol the obligation can be measured reliably. Expenditure is accounted lor on an accruals b8SIS
and has been classified under headings that aggregate all costs related to the category. Where c031s eannot
be diredly attributed lo particular headings. they hav8 been allocatèd to acliwlies on a ba515 consislenl with
the use of the resources.
Grants offered subject to ¢ondilion$ which have not been rnel al the year end dale are noted as a eomrnitment
but not accrued as expenditure.

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Icontlnuedl
1.6 Tangible fixed assets
The only tangible assets are the freehold prèmises acquired al a cost of £3 on which no daprBcHlion is
charged.
1.7 Fixed asset investments
Fixed asset inveslrnenls are initially measured at transaclton price exduding Iiansaction costs. and a
subsequently measured al fair value al each reporting date. Changes in fair value are recognised in nel
ineomè/{expendilure} for the year. Transaction ¢osls are expensed 8s incurred.
1.8 Cash and Cash èquivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-IEmi liquid
investments with original tnalurilies of three months or less. and bank overdrafts. Bank overdrafts are shown
within btsirowings in current liabilities.
1.9 Financial instruments
The Charity has elected lo appty the provisions of Section 11 'Basic Financial Instruments, and Se¢tlon 12
'Othèr Finaneial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity be¢x)mes party to the
conlractU81 provisions of the instrument.
Financial assets and liabilities are offset, with IhÈ nel amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net
basis or to realise the assèt and setue the liability sim￿taneOusly.
Baslc finaneial aJ¥ets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price induding transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement conslilules a financing transaction. where the Iransaction is
measured at thè present value of the future receipts discounted at a market rate of interest. Finanual assets
dassifièd as re¢eivable within one year are not amortised.
Basic financial liabilitles
B881¢ financial liabilities, including creditors and bank ltsans are initially recognised al Iransa¢tion price unless
the arrangement consti(ules a financing Iransaclion. where the debt Instrument Is mea5uied al the present
value of the future payments discounted at A market r31e of interest. Financial liabilities das5ffied as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortlsed cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as ￿rrent liability.es if payment Ss due within one
year or less. If not, Ihey are presented as non-currènl liabilities. Trade ¢reditors ale recognised initially al
transaction price and subsequently measured al amortised c05t Using the effective interest method.
Derecognition of financial liabilities
Financi￿ liabilib.es are derecognised when the CharIt￿S contractual obligations expire or are discharged or
ancelled.

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from donations and legacle$
Unre$tricted Restricted
funds
funds
2025
2025
Totsl Unrestricted Restricted
fund$
funds
2024
2024
Total
2025
2024
Donations and grfts
Grants- Morrisons
146
145
10,000
5(X)
500
10,000
145
10.000
10,145
500
500
Income from invesknents
Unrestricted Unrestricted
funds
funds
2025
2024
Rental income
Insurance reimbursèd
Intere51 receivable
12,652
3,150
1,294
13.151
3,000
1,202
17.096
17,353

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expendlture on charitable activitiès
Total
2025
Totsl
2024
Direct costs
In5ur8nce
Project costs
Sundry costs
4.757
24,279
4,S15
1,702
100
29,038
6.317
Grant funding of aetiwlies (see note S)
2,162
4,750
Share of support and governance costs {see note 61
Support
Govemance
438
1.126
114
990
32,762
12,171
Analysis by fund
Unrestricted funds
Restricted funds
32.234
S28
11.951
220
32,762
12.171
Grants payable
Total
2025
Totsl
2024
Grants to institutions.,
Toines Mansion- solar pane15
Leechwell Gardens Assn- volunteer co-ordinator
Leechwell Gardens Association - r&palrs and support
Totnes Carin9- Memory Cafe
Jamming Station
Leechwell Gardens Assoaation- wildlife area
Treès for Tolnes- irrigation
Totnes Gardèns- planter
450
1.712
1,000
700
500
750
1.300
2.162
4,750

TOTNES TRUST
NOTES TO THE FINANCIAL STATEP4lENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs allocated to activities
2025
2024
Website costs
Bank charges
Govemance c051s
378
60
1,126
60
1,564
1,104
2025
2024
Governance costs comprise:
Independent Examinels fèÈs
Companie5 House
Sut)dry costs
990
34
102
8fj4
26
100
1.126
990
Govemance costs indudes payments to the Independent Examiner of £72012024.. £576) for extèrnal scrutiny
and £27012024.. £288) for olher services.
Trustses
None of the Trustees (or any persons connected with them) rece¢ved any remuneration or benefts from the
Charfty durlng the year (2024.. none).
There were no Trustees expenses paid for the year {2024." nonè).
Taxation
The charlty Is exempl from tax on income 8nd galns falling within section 50S of the Taxes Act 1988 or section
252 of the Taxation of Chargeable GainsAct 1992 to the extent that these are applied lo its charitable objects.
Tangible fixed assets
Freehold land
and bulldit)gS
Cost
At 1 April 2024
Al 31 March 2025
Carrying amount
At 31 March 2025
Al 31 March 2024
10-

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Fixèd asset investments
Bond
ost or valuation
At 1 ApTiI 2024
Additions
Disposals
26.032
1,083
17.1151
At 31 March 2025
20.000
Carying amount
At 31 March 2025
20.000
Al 31 March 2024
26.032
11 Debtors
202S
2024
Amounts falling due within one year.
Prepayments and accrued income
1,254
315
12 Creditors: amounts falllng du• wlthin one year
2025
2024
Accruals for grants payable
Accruals and defsired income
2,162
720
500
760
2.882
1.260
13 Restricted funds
The restrictèd funds of the charity comprise the unexpend6d balances of donations and gran15 held on trust
subject lo specific conditions by donors as to how they may be used.
At 1 April
2024
Incomlng
resources
Resources At 31 March
expèndèd
2025
Rotherfold Bench
Colebrook Lane
20
20
9,472
10.000
15281
20
10,000
15281
9,492
11

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Restrlcted fund$
(Continued)
Prnvlous yèar:
At 1 April
2023
Incoming
resources
Resources At 31 March
Èxpènded
2024
Tree5 for Totne5
Rolherfold Bench
Totnes Garden Trail
101
20
119
11011
20
1119)
240
(2201
20
The purposes and restrictions of the funds are as follows..
Tree5 for Tolnes- Funds held by Tolnes TNSI on behalf of Trees for Totnes.
Rotherfold Bench- To provide a benth at The Rolherfold.
Totnes Garden Trail- Fund5 held by Tolnes Trust for the Tolne$ Garden Trail.
Colèbrook Lane - To improve the lane and leat In front of Colebrook Cottages. Funding for this project was
received from Morri50ns.
14 Analysis of net assets betsveen funds
Unrestricted
funds
2025
Restrlcted
funds
2025
Total
2025
At 31 Mar¢h 2025..
Tangible assets
Investments
Current asselsllliabililies}
20.000
8,031
20,000
17,523
9,492
28,034
9,492
37,526
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Investments
Current assetslOi8bililies)
26,032
16.992
26,032
17,012
20
43,027
20
43.047
12

TOTNES TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15 Unrestricted funds
The unrestricted Income funds of the Charity arising through its actiwties are as follows-.
Balance at
1 Aptil 2023
lttcomlng
resour¢e5
Resources
Balance at
expended 1 Aprll 2024
Incomlng
r88ourcos
Resources
Balancè at
eXP8nded 31 March 2025
Sinking fund
Unreslricled
general funds
14,571
14.571
14,571
22.554
17,853
111.951)
28,456
17.241
{32,2341
13,463
37,125
17,853
111,951}
43,027
17,241
(32.2341
28,034
The purpose of the ¢Jesignaled sinking fund 15 sel out in the Trustees. Report.
16 Related party transactions
There were no disdosable related party transactions during the yeai12024- none).
13-

TOTNES TRUST
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025

TOTNES TRUST
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Income from:
Donation$ and legacies
Unrestricled donations and gifts
Restricted grants re￿1vable
145
lo.￿0
500
Investment Income
Rental income
Bank interest ieceivable
Insuranea reimbursed by lenanl
12.652
1,294
3,150
13.151
1.202
S,￿0
Total income
27.241
17,853
Resource$ •xp•nd¥d:
Choritsble activities
Conserving hlstorieal Totnes
Insurance
Grants payablè
Projè¢t costs
Sundry costs
Share of 5UPPOrt costs
Share of governance costs
4,757
2,162
24,279
4,515
4,750
1.702
10Q
114
990
438
1,126
(32.7621
112,1711
Net movement in funds
IS,S211
S,682
14-

TOTNES TRUST
SUPPORT AND GOVERNANCE COSTS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Support costs
Website costs
Bank tharges
378
438
114
Govtrnanee Costs
Independent examinels fee
Companies House
Sundry costs
990
34
102
26
100
1,126
990
1,S64
1,104
15