Charity registration number SC042074 (Scotland)
Company registration number SC387349 (Scotland)
BELLEISLE CONSERVATORY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
BELLEISLE CONSERVATORY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J A Couburough - Chair
S Robertson - Treasurer
Mr D L Moulds
Mrs B Pert
Secretary
Mrs B Pert
Charity number (Scotland)
SC042074
Company number
SC387349
Registered office
36 Cairn Crescent
Alloway
Ayr
Ayrshire
United Kingdom
KA7 4PW
Independent examiner
Stephen Wilkie B.A. C.A.
Azets
3 Wellington Square
Ayr
Ayrshire
United Kingdom
KA7 1EN
BELLEISLE CONSERVATORY LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 12
BELLEISLE CONSERVATORY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2022
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's (governing document), the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The prime objective of the Charity is to ensure the maintenance and sustainability of the Conservatory within Belleisle Park. With horticultural excellence at the core, the conservatory offers potential to develop inclusive community activities to ensure financial sustainability.

 

Conservatory Building and Horticulture

Having reopened to the public in July 2016 the building is regularly inspected and maintained, with further structural repair work anticipated before January 2022. Benchmarking of Horticultural displays compare very favourably with the very best of UK glasshouses.

 

 

BELLEISLE CONSERVATORY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
Financial review

The Charity relies on the support of Companies and other interested parties for its operations .

 

Donations were up in the year by £1,431 due to increased fundraising activities being carried out, mainly due to coming out of lockdown. £12,487 was raised in the year.

 

Grants received are split between Revenue £6,000 (2021: £28,200) and Capital Reserve £nil (2021: £nil).

 

Total costs are lower this year by £459, which includes depreciation for additions in the year and assets brought forward. Depreciation is provided at rates of three, five and ten years. No provision is made for the permanent Floral display either as assets or depreciation, this has an estimated replacement value of £15,000.

 

The stock figure consists of gifts  for sale, Honey, plants  and small amount of Advertising material.

 

Most of BCL fundraising activities this year have been applying for capital grants for the costs to cover the installation of automatic roof blinds. BCL have completed and submitted some 12 applications of which we have been successful so far with six, turned down by three and awaiting responses from the remaining three. Of the successful ones we have a guarantee of some £34,000 and the remaining three a projection of £29,000. Accordingly, BCL is cautiously optimistic that we will reach our target of £45,000, albeit cautious on the basis of fund raising being a hit and miss industry and also as a result of the present financial climate.

 

Special Capital Asset Reserve fund which continues as a Designated Fund with the General Fund, has increased to £36,510 - the principal source being the Black Tie Dinner at Ayr Racecourse.

 

Total charity net loss for the year is £12,716 compared to profit of £2,691 in the previous year.

 

The Charity only maintains sufficient funds to meet anticipated costs in the immediate months ahead, carrying forward a net balance of £63,667. There were no Restricted Fund balances at 31 March 2022.

 

During the 2016 year, the conservatory re-opened to the public resulting in the management team having to change their role from a purely fund raising one to a "hands on" operational management team. Monthly management accounts have ensured a tight financial control enabling all decisions made by the team to be on a sound basis.

 

Financial position

The Charity relies on the support of Companies and other interested parties for its operations .

 

The results for the period ending 31 March 2022 are shown on the Statement of of Financial Activities. The Charity only maintains sufficient funds to meet anticipated costs in the immediate months ahead, carrying forward a net balance of £63,667. There were no Restricted Fund balances at 31 March 2022.

The Charity only maintains sufficient funds to meet anticipated costs in the immediate months ahead.

Structure, governance and management

The Charity only maintains sufficient funds to meet anticipated costs in the immediate months ahead.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr J A Couburough - Chair
S Robertson - Treasurer
Mr D L Moulds
Mrs B Pert
BELLEISLE CONSERVATORY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -

Authority for the management of the Charity is vested in the Committee whose appointment is confirmed bi-annually by from all interested parties.

 

The Committee seeks to ensure proper representation across the area of people who have an interest and experience in developments and support work.

 

The Committee strives to seek a proper balance of skills and experience and has power to Co-opt, where necessary.

The Annual General Meeting includes an invitation for every interested party across Ayr, to participate.

 

The Annual General Meeting is responsible for the appointment of Office Bearers (Chairman, Vice Chairperson, Secretary and Treasurer) and up to at least four other Co-opted Committee members.

 

Risk management

The Committee regularly assesses the major risks to which the Charity is exposed, whilst providing ongoing support for the work ahead. Internal control risks are minimised by implementation of procedures for authorisation of transactions.

The Trustees' report was approved by the Board of Trustees.

S Robertson - Treasurer
Trustee
Dated: 29 August 2022
BELLEISLE CONSERVATORY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BELLEISLE CONSERVATORY LIMITED
- 4 -

I report on the financial statements of the Charity for the year ended 31 March 2022, which are set out on pages 5 to 12.

Respective responsibilities of Trustees and examiner

The Charity’s Trustees, who are also the directors of Belleisle Conservatory Limited for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Azets
Stephen Wilkie C.A.
3 Wellington Square
Ayr
Ayrshire
KA7 1EN
United Kingdom
Dated: 29 August 2022
BELLEISLE CONSERVATORY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
Unrestricted
Unrestricted
funds
funds
2022
2021
Notes
£
£
Income and endowments from:
Donations and legacies
2
17,789
14,176
Charitable activities
3
6,000
28,200
Other trading activities
4
21,426
11,490
Other income
5
-
219
Total income
45,215
54,085
Expenditure on:
Raising funds
6
8,152
1,156
Charitable activities
7
49,779
50,238
Total expenditure
57,931
51,394
Net (expenditure)/income for the year/
Net movement in funds
(12,716)
2,691
Fund balances at 1 April 2021
76,383
71,692
Fund balances at 31 March 2022
63,667
74,383

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BELLEISLE CONSERVATORY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 6 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
11
40,353
35,942
Current assets
Stocks
12
2,470
2,631
Debtors
13
25
401
Cash at bank and in hand
23,344
36,734
25,839
39,766
Creditors: amounts falling due within one year
14
(2,525)
(1,325)
Net current assets
23,314
38,441
Total assets less current liabilities
63,667
74,383
Income funds
Unrestricted funds - general
Designated funds
16
36,510
34,510
General unrestricted funds
27,157
39,873
63,667
74,383
63,667
74,383

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 Trustees on 29 August 2022
S Robertson - Treasurer
Trustee
Company registration number SC387349
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 7 -
1
Accounting policies
Charity information

Belleisle Conservatory Limited is a private company limited by guarantee incorporated in Scotland. The registered office is 36 Cairn Crescent, Alloway, Ayr, Ayrshire, KA7 4PW, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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 Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

In common with most businesses the charity is facing potential  issues in respect of the COVID-19 pandemic. This is an ongoing situation and the charity is adopting a strategy to manage the ever-changing situation as effectively as possible.

 

The directors are satisfied that these events do not affect the charity's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

 

The following Unrestricted, Designated Fund has been set up:

 

Special Capital Asset Reserve

This fund is for the purchase of capital assets.

1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5
Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 8 -
1.6
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.

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:

Plant and equipment
at varying rates on cost

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 recognised in the statement of financial activities.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8
Cash and cash equivalents

Cash and cash equivalents 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.

1.9
Taxation

The charity is exempt from corporation tax on its charitable activities.

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
general
general
2022
2021
£
£
Donations and gifts
12,487
11,056

Gift aid

5,302
3,120
17,789
14,176
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 9 -
3
Charitable activities

Charitable Activities

Charitable Activities

2022
2021
£
£

Grants - Property management

6,000
28,200
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
general
general
2022
2021
£
£

Interest received

6
13
Fundraising events
10,290
4,323

Collection cans

1,291
1,345

Plant and book sales

5,755
1,109

Plant sponsors

1,084
4,500

Hire

3,000
200
Other trading activities
21,426
11,490
5
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2022
2021
£
£
Net gain on disposal of tangible fixed assets
-
219
6
Raising funds
Unrestricted
Unrestricted
funds
funds
general
general
2022
2021
£
£
Fundraising and publicity

Fundraising costs

8,152
1,156
8,152
1,156
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 10 -
7
Charitable activities

Charitable Expenditure

Charitable Expenditure

2022
2021
£
£
Depreciation and impairment
9,561
7,191

Insurance

1,191
443

Light and heat

3,496
4,878

Telephone

1,163
1,010

Advertising

704
598

Sundries

404
789

Staff - invoiced

11,970
5,762

Set up costs

17,664
21,232

Repairs and renewals

2,664
7,214

Travel expenses

38
281
48,855
49,398
Share of governance costs (see note 8)
924
840
49,779
50,238
8
Support costs
Support costs
Governance costs
2022
Support costs
Governance costs
2021
£
£
£
£
£
£
Independent examiner
-
924
924
-
840
840
-
924
924
-
840
840
Analysed between
Charitable activities
-
924
924
-
840
840
9
Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year nor for the prior year ended 31 March 2021.

BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 11 -
10
Employees

The average monthly number of employees during the year was:

2022
2021
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
11
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2021
66,833
Additions
13,977
At 31 March 2022
80,810
Depreciation and impairment
At 1 April 2021
30,896
Depreciation charged in the year
9,561
At 31 March 2022
40,457
Carrying amount
At 31 March 2022
40,353
At 31 March 2021
35,942
12
Stocks
2022
2021
£
£
Stocks
2,470
2,631
13
Debtors
2022
2021
Amounts falling due within one year:
£
£
Prepayments and accrued income
25
401
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 12 -
14
Creditors: amounts falling due within one year
2022
2021
£
£
Accruals and deferred income
2,525
1,325
15
Unrestricted funds - designated

These are unrestricted funds which are material to the Charity's activities made up as follows:

Movement in funds
Balance at
1 April 2021

Incoming resources

Resources expended

Balance at
31 March 2022
£
£
£
£
General fund
39,873
45,215
(57,931)
27,157
16
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Movement in funds
Movement in funds
Balance at
1 April 2020
Incoming resources
Balance at
1 April 2021
Incoming resources
Balance at
31 March 2022
£
£
£
£
£
Special Capital Asset Reserve
32,510
2,000
34,510
2,000
36,510
32,510
2,000
34,510
2,000
36,510
17
Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

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