Company registration number SC682574 (Scotland)
SCOTTISH POLICE RECREATION ASSOCIATION
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
SCOTTISH POLICE RECREATION ASSOCIATION
CONTENTS
Page
Directors' Report
1 - 2
Balance sheet
4
Statement of changes in equity
3
Notes to the financial statements
5 - 14
SCOTTISH POLICE RECREATION ASSOCIATION
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2022
- 1 -
Representing our first full year as a not-for-profit private company limited by guarantee, 2021/22 proved a rather busy one for the Association as it maintained its momentum on organisational change and continued to develop and invest in benefits which our membership value.
Our Mission as a company is unchanged to that of the unincorporated body,
“…to provide an organisational landscape for SPRA members and their families that is safe and secure and which allows SPRA members to experience the benefits of healthy living within a balanced and supportive community lifestyle”.
Like many other organisations, the Association developed its services considering lessons learned during the pandemic. Highlights in the year under review included:
Introduction of SPRA Cinema
Transition and integration to Xero financial package
Re-appointment of Directors & addition of new Directors, supported through Teams meetings
Reconfiguration of our Shop Operations
Development of the ‘SPRActive’ programme
Review Fleet delivery model
Of these, the Association’s introduction of 3rd party provision of cinema tickets was perhaps the most visible to our membership. Subsidised by the Association at a company level, this change in approach enabled the Association to overcome a shift by the cinema chains to a more complex and expensive ticket model. It also ensured we could limit our financial exposure and simplify the purchase experience and approach for our membership.
Our member-wellbeing platforms and SPRAHub also continue to prove their worth. As previously reported, in addition to providing access to an extensive range of discounts, the hub provides our members access to a host of on-line exercise videos, healthy eating guides, recipes and a host of financial and mental wellbeing advice. We have witnessed a steady increase in members signing up to this benefit and taking advantages of the services it supports.
Working with partners in Police Scotland at the Scottish Police College, we have extended this platform to promote the Force’s CopStrong programme. Our efforts in this regard include supporting their efforts to introduce accessible exercise programmes, first realised as part of the ‘Move in March’ Team Challenge Competition.
We completed a detailed audit of our gym facilities, with this following resumption of services at the majority of our exercise sites. We continue to work with Police Scotland to encourage and assist their efforts to re-open further facilities, relocating them where required and where opportunities are presented and supported by the Force. Providing replacement equipment is taking longer than we had hoped, with global supply chains continuing to influence availability around certain items of equipment.
As would be expected, the Association continues to play its part in helping our members exercise safely. The provision of safe-exercise guidance and cleaning materials for member-use to all active SPRA exercise sites is now supported as a matter of course.
We have continued to invest in our membership booking portal, with the data provided from this system used alongside our engagement with Divisional Social Committees and Divisional Gym SPOC to inform our investment approach.
Regrettably, the Force felt it was unable to support the Association family day during the year under review. We therefore shifted our approach to increase the number and type of funded regional events, all of which were accessed by members through ballot. These proved exceptionally popular with the membership.
While strictly speaking a matter for next year’s accounts, the change in relationship between the Association and Lochinch Sports Pavilion merits comment. Representing a significant change, this will see responsibility and ‘ownership’ of the pavilion and grounds (which the Association leases), transferring from Association control to that of the City Charitable Trust.
SCOTTISH POLICE RECREATION ASSOCIATION
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 2 -
Members may recall the Association Board committed to a review of operations at Lochinch following completion of the 2019 refurbishment programme. Initially delayed due to the pandemic, this was undertaken in the latter part of 2021. The review established that while previous investment had stemmed major losses, with the site now operating closer to what was considered an ‘acceptable’ cost, it was also considered to have reached its maximum income potential. The same exercise also established that over 94% of site use was by non-members. This reflected our experience of previous survey findings and highlighted the risk of the Association making an increasingly disproportionate investment of monies and resource into supporting non-member activity. The Board did not consider this was sustainable. Subsequent engagement with the SPRA Football and Rugby Section Committees revealed support for establishing an alternative approach towards the provision of facilities to support their activities.
Completion of the above exercise co-incided with an expression of interest and receipt of a proposal regarding the future of Lochinch from the City Charitable Trust. Subsequent negotiations between the Trust, Pollok & Corrour Ltd (Landlords for the site) and the Association Board resulted in an agreement that releases the Association from its long-term lease of the site. Of note is that accompanying arrangements support a continuing connection between the Association membership and the site, while affording the Association more flexibility supporting sections who were previously compelled to only use this location.
Several other initiatives have also recently launched; however, these do not fall for report as part of these accounts.
As revealed in the 2022/24 Association Business Plan, the Association Board has committed to fund a Benefits Boost fund to support member-led initiatives. Indeed, the sum available to Sections has doubled from that previously provided. We look forward to learning how our Sections and Divisional Social Committees convert these monies into increased participation in sport and physical activity and member wellbeing opportunities.
Last year’s AGM saw the Association retaining a significant number of its established and new Director membership.
We have not lost sight of who we are and why we’re here, with our confidence in our mission bolstered by your support. Sport remains at the heart of what we are and what we do, with our network of volunteer Divisional Social Committees and Sports and Recreation Sections playing a key part in our operations.
While a number may have been more visible during the pandemic, with their on-line pantos, challenges, and cookery events, they are still there and keen to develop and drive participation opportunities for members. Our sporting activities are steadily returning to ‘normal’, with the reduced spend in this area representing the transition from a suspension during the pandemic.
We’ve said it before, but our success is shaped by their enthusiasm and the sacrifices they make elsewhere in their lives on our behalf and that of their colleagues and team-mates.
The Association Board considers these accounts reflect the foregoing activities and its continuing commitment to invest in the Associations’ Mission, aims and member wellbeing.
On behalf of the Board.
Calum Murray
Chief Executive
25 July 2022
SCOTTISH POLICE RECREATION ASSOCIATION
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2022
- 3 -
Income and expenditure
£
Balance at 1 December 2020
Period ended 31 March 2022:
Profit and total comprehensive income for the period
3,543,413
Balance at 31 March 2022
3,543,413
SCOTTISH POLICE RECREATION ASSOCIATION
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 4 -
2022
Notes
£
£
Fixed assets
Negative goodwill
6
(575,400)
Tangible assets
7
626,287
Investments
8
265
51,152
Current assets
Stocks
9
43,411
Debtors
10
124,615
Cash at bank and in hand
3,432,611
3,600,637
Creditors: amounts falling due within one year
11
(108,376)
Net current assets
3,492,261
Net assets
3,543,413
Reserves
Income and expenditure account
3,543,413
Members' funds
3,543,413
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 July 2022 and are signed on its behalf by:
J S Stewart
Director
Company Registration No. SC682574
The notes on pages 5 to 14 form an integral part of these financial statements.
SCOTTISH POLICE RECREATION ASSOCIATION
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022
31 March 2022
- 5 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation have been applied to the fair value of the acquisition of previously unincorporated Association, depreciation rates and accruals. The fair value of the tangible fixed assets were estimated at net book value (depreciated cost) of assets held which were acquired from the previously unincorporated Association. The depreciation rates are deemed to be appropriate based on the expected useful lives for each class of asset. The estimate of accruals is deemed to be appropriate due to management's understanding of liabilities at the year end.
2
Accounting policies
Company information
Scottish Police Recreation Association is a private company limited by guarantee incorporated in Scotland. The registered office is 6 Baird Street, Glasgow, G4 0EZ.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3
Reporting period
The financial statements are presented for a period of 16 months, The Company was incorporated on 1 December 2020 and the Company acquired the assets and liabilities of the previously unincorporated Association on 1 April 2021. Therefore all activity for the company is for the year from 1 April 2021 to 31 March 2022. This is the first accounting period of the Company and there is therefore no comparative amounts presented within the financial statements (including the related notes).
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
2
Accounting policies
(Continued)
- 6 -
2.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
2.5
Negative goodwill
Negative goodwill is created through acquisition and is written off to the Statement of Income and Retained Earnings as the non-cash assets acquired are depreciated or sold.
2.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
At 1 April 2021 assets have been brought in at fair value at the date of acquisition from the previously unincorporated Association. Fair value has been deemed to be net book value (based on depreciated cost) in the previous entity.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Sports equipment
33% reducing balance
Motor vehicles
25% reducing balance
Shop and office equipment
33% reducing balance
Pavillion building
Over the lease term
Lochinch
2% straight line for the ground refurb and between 10-30 years for the pitch
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.
2.7
Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market value. The Statement of Income includes the net gains and losses (realised and unrealised) arising on revaluation and disposals throughout the year.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
2
Accounting policies
(Continued)
- 7 -
2.8
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.9
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.10
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.11
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
2
Accounting policies
(Continued)
- 8 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised 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 business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
2
Accounting policies
(Continued)
- 9 -
2.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.15
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
Number
Administration and support
19
4
Auditor's remuneration
2022
Fees payable to the company's auditor:
£
For services
Audit services
16,800
Non-audit services
7,705
24,505
5
Directors' remuneration
2022
£
Remuneration for qualifying services
64,462
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
5
Directors' remuneration
(Continued)
- 10 -
Included in the above director's remuneration is £13,520 of payments of honararia to office bearers.
6
Intangible fixed assets
Negative goodwill
£
Cost
At 1 December 2020
Additions - business combinations
(3,386,059)
At 31 March 2022
(3,386,059)
Amortisation and impairment
At 1 December 2020
Amortisation charged for the period
(2,810,659)
At 31 March 2022
(2,810,659)
Carrying amount
At 31 March 2022
(575,400)
7
Tangible fixed assets
Sports equipment
Motor vehicles
Shop and office equipment
Pavillion building
Lochinch
Total
£
£
£
£
£
£
Cost
At 1 December 2020
-
Additions
17,049
31,731
10,063
3,213
62,056
Business combinations
105,247
79,566
57,699
1,033
410,334
653,879
Disposals
(165)
(3,265)
-
(3,430)
At 31 March 2022
122,131
108,032
67,762
1,033
413,547
712,505
Depreciation and impairment
At 1 December 2020
-
Depreciation charged in the period
34,908
20,867
24,220
179
6,463
86,637
Eliminated in respect of disposals
(419)
-
(419)
At 31 March 2022
34,908
20,448
24,220
179
6,463
86,218
Carrying amount
At 31 March 2022
87,223
87,584
43,542
854
407,084
626,287
Clydesdale Bank PLC hold a floating charge over all property and undertakings of the company.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 11 -
8
Fixed asset investments
2022
£
Listed investments
265
Listed investments included above:
Listed investments carrying amount
265
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 December 2020
-
Additions in year at fair value
285
Unrealised loss on investment
(20)
At 31 March 2022
265
Carrying amount
At 31 March 2022
265
9
Stocks
2022
£
Finished goods and goods for resale
43,411
10
Debtors
2022
Amounts falling due within one year:
£
Trade debtors
5,463
Other debtors
16,826
Prepayments and accrued income
102,326
124,615
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 12 -
11
Creditors: amounts falling due within one year
2022
£
Trade creditors
62,642
Corporation tax
159
Other creditors
7,613
Accruals and deferred income
37,962
108,376
12
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
13
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Allison Devine and the auditor was Alexander Sloan Accountants and Business Advisers.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
(Continued)
- 13 -
14
Acquisition of a business
On 1 April 2022 the company acquired the assets of Scottish Police Recreation Association (Unincorporated Association).
Book Value
Adjustments
Fair Value
£
£
£
Property, plant and equipment
1,847,817
(1,193,938)
653,879
Investments
285
-
285
Inventories
66,166
(17,596)
48,570
Trade and other receivables
51,134
546
51,680
Cash and cash equivalents
2,749,588
197,754
2,947,342
Borrowings
(268,114)
-
(268,114)
Trade and other payables
(61,637)
14,054
(47,583)
Total identifiable net assets
4,385,239
(999,180)
3,386,059
Negative goodwill
(3,386,059)
Total consideration
-
The adjustments arising on acquisition were in respect of the following:
At the balance sheet date the Company were in negotiations to dispose of the assets held at Lochinch. The directors are of the opinion that the fair value of the assets at Lochinch are the amount which they were ultimately sold for in 2022/23 being £416,666. The fair value of Property, Plant and Equipment has been adjusted accordingly.
Divisional bank accounts not previously recognised in the financial statements of the unincorporated association have been recognised on acquisition as the conditions for these accounts to be considered an asset are met.
Trade and other receivables have been adjusted to reflect the amounts recovered following acquisition.
Trade and other payables have been adjusted to reflect the amounts required to settle the liabilities acquired.
15
Capital commitments
At the balance sheet date, the Company had a capital commitment in respect of the purchase of two minibuses amounting to £42,255.
SCOTTISH POLICE RECREATION ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 14 -
16
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2022
£
Within one year
17,876
Between two and five years
88,400
In over five years
316,767
423,043
The amount of non-cancellable operating lease payments recognised as an expense during the year was £18,134.
17
Events after the reporting date
After the reporting date the Company agreed to dispose of the assets it holds at Lochinch Grounds and to assign its lease on Lochinch Grounds to The City Charitable Trust. Under the terms of the agreement the Company will receive £416,666 (ex VAT) for the assets and will receive a premium on assigning the lease of £100,000 (ex VAT).
2022-03-312020-12-01false25 July 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityThis audit opinion is unqualifiedE J CallanA ChadaS P FitzgeraldC J FraserC HamiltonJ JackW M LeslieA I MalcolmR MurphyC I MurrayD G OgilvieC PirieJ S StewartC TrickettR CraigA M LangfordJ ShanksSC6825742020-12-012022-03-31SC682574core:RetainedEarningsAccumulatedLosses2020-11-30SC682574core:RetainedEarningsAccumulatedLosses2022-03-31SC6825742022-03-31SC682574core:RetainedEarningsAccumulatedLosses2020-12-012022-03-31SC682574core:NegativeGoodwill2022-03-31SC682574core:FurnitureFittings2022-03-31SC682574core:MotorVehicles2022-03-31SC682574core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-31SC682574core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2022-03-31SC682574core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-31SC682574core:CurrentFinancialInstruments2022-03-31SC682574bus:Director132020-12-012022-03-31SC682574core:Goodwill2020-12-012022-03-31SC682574core:FurnitureFittings2020-12-012022-03-31SC682574core:MotorVehicles2020-12-012022-03-31SC682574core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2020-12-012022-03-31SC682574core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2020-12-012022-03-31SC682574core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment2020-12-012022-03-31SC682574core:NegativeGoodwill2020-11-30SC682574core:NegativeGoodwill2020-12-012022-03-31SC682574core:FurnitureFittings2020-11-30SC682574core:MotorVehicles2020-11-30SC682574core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2020-11-30SC682574core:Non-standardPPEClass2ComponentTotalPropertyPlantEquipment2020-11-30SC6825742020-11-30SC682574core:Non-currentFinancialInstrumentscore:ListedExchangeTraded2022-03-31SC682574core:WithinOneYear2022-03-31SC682574core:BetweenTwoFiveYears2022-03-31SC682574core:MoreThanFiveYears2022-03-31SC682574bus:CompanyLimitedByGuarantee2020-12-012022-03-31SC682574bus:SmallCompaniesRegimeForAccounts2020-12-012022-03-31SC682574bus:FRS1022020-12-012022-03-31SC682574bus:Audited2020-12-012022-03-31SC682574bus:Director12020-12-012022-03-31SC682574bus:Director22020-12-012022-03-31SC682574bus:Director32020-12-012022-03-31SC682574bus:Director42020-12-012022-03-31SC682574bus:Director52020-12-012022-03-31SC682574bus:Director62020-12-012022-03-31SC682574bus:Director72020-12-012022-03-31SC682574bus:Director82020-12-012022-03-31SC682574bus:Director92020-12-012022-03-31SC682574bus:Director102020-12-012022-03-31SC682574bus:Director112020-12-012022-03-31SC682574bus:Director122020-12-012022-03-31SC682574bus:Director142020-12-012022-03-31SC682574bus:Director152020-12-012022-03-31SC682574bus:Director162020-12-012022-03-31SC682574bus:Director172020-12-012022-03-31SC682574bus:FullAccounts2020-12-012022-03-31xbrli:purexbrli:sharesiso4217:GBP