The trustees present their annual report and financial statements for the year ended 31 December 2021.
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 charitable company'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).
Policies and objectives
The purpose of the charitable company are:
To promote, maintain, improve and advance the children, young people and adults, the health of the residents in the area which the charitable company operates and the improvement of the opportunities for educationally, socially and rurally disadvantaged by all appropriate means and particularly by encouragement of the Arts including the arts of drama, dance, music, singing, literature and visual arts and encourage public participation in sport (and sport means sport which involves physical skill and exertion) thereby improve the conditions of life and the community spirit of the inhabitants of the area.
We endeavour to ensure the communities that we serve can and do have access to our activity and neither financial hardship or rural exclusion would prevent them from taking part we are also keen to use our activities to support people through difficult periods in line and use them as tools to develop positive pathways they can follow.
Strategies and achieving objectives
The strategies employed to achieve the charitable company's aims and objectives are to:
Run regular and weekly classes in dance and sport in areas that we would consider to be supporting communities who may suffer from deprivation or rural isolation.
To further support young people's participation to work towards yearly shows or events that allows them to grow and set goals.
Within these structures provide opportunities for volunteering from young people using accreditation models such as Saltire Volunteer Awards or Duke Of Edinburgh Awards.
Provide, where we can, facilities that allow us to grow our activities without restriction and afford sustainability this would be the examples of our newer sports and arts facility in Dundee.
Work with partners such as school, local authorities, and third sector partners to use sport and the arts to improve areas of a young person's life such as education, employment skills, and behavioural challenges.
To involve young people and communities in the decisions we make and how we make them, and why, and ensure we don't duplicate but rather enhance experiences.
Activities for achieving objectives
To ensure we can put these strategies into action our work follows three main streams, these being community classes and shows, educational programmes and growth around our own premises and buildings.
Review of activities
2021 continued to be a huge challenge for Showcase the Street and all charities in Scotland as we tried to balance our important provision of services with also ensuring the charity continued to be sustainable with mire lockdowns and restrictions due to the COVID pandemic.
During the year we have continued to provide services virtually where required including dance classes, and important projects delivered by our VR and tech staff or in partnership with other organisations. One great example of this was in Angus where a multi partner bid, headed by Showcase, and involving Angus Council, DD8 Music and Tayside Council on Alcohol delivered an arts and creativity project to young people affected by months of isolation due to no schools being open and being away from their friends. The same project was nominated for and won a national award this year at the Youthlink National Awards.
Also in Angus we have continued to work on the Seaton Park project in Arbroath where we hope to develop a new facility in one of the most deprived areas of Scotland. The project again is challenging with rising capital costs for materials as well as trying to find large scale funders but the continued support of HRH Princess Anne and the Chaffinch Trust has been gratefully received and HRH fisted Arbroath in October of 2021 to hear first hand on the progress of the project.
Our work in VR and Tech continues to grow and is being seen more in school settings to supoort young people, especially those from deprived areas to consider careers in the digital sector. We have also worked in partnership with the Princes Trust to develop employability programmes with a focus on Tech and sports.
As we move into 2022 the challenges continue as our Social Enterprise model of gaining our own funds recovers back to pre pandemic levels and also the wider challenges of continuing to grow the Tech side which is in demand whilst also maintaining our core services of dance and wider support of the local community around our facility in Dundee.
In all though it has been a good year and again we would like to thank all our volunteers and trustees who give so much of their time for free, the staff both full and part time, our funders and supporters who allow us to develop the services we offer and finally the thousands of young people and the community who use Showcase the Street.
Review of financial position
At the year end the charity holds £218,358 (2020 - £188,781) in reserves, of which £118,990 is unrestricted and of this free reserves not invested in fixed assets or designated amount to £65,311 (2020 - £74,843 deficit). No amounts have been designated. The funds at the end of the year put the charity in a strong position as we start 2021/22.
The Trustees regularly monitor the level of unrestricted funds as these are vital in allowing flexibility in our work.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Reserves policy
Reserves are held to bridge the gap between the spending and receiving of free income and to cover unplanned emergency repairs and other expenditure. The Trustees' ideal level of free reserves at 31 December 2021 would be £10,000 (2020 - £10,000). The current level of unrestricted reserves exceeds this.
Principal Funding
The charitable company's principal funding sources are fully detailed in note 2 of these financial statements.
Risk management
Showcase the Street have regular reviews within Trustees' meetings and through the role of Trustees as to the principal risks associated with the charitable company and the uncertainties of future plans where relevant.
We regularly review the factors that are likely to affect future financial performance and are proactive in order to ensure that these factors are overcome and future financial performance is maintained, if not improved.
Financially, the main risk identified is the potential loss of grant funding. to mitigate this risk, Showcase the Street are in regular communications with grant providers as well as looking for potential new funding opportunities.
We have secured long term sub-lets through groups such as Street Leagues, Shaper Caper and now a church group every Sunday this has helped considerably towards our general revenue costs. We have also, towards the end of 2019, cut our full-time staff and freelance staff in areas of dance as we as hall hires which again will add longer term sustainability.
Operationally, the main risk identified is the potential reputational damage which would be incurred if those working for Showcase the Street were found not to have had the required PVG checks in place. To mitigate this, PVG checks are carried out for all members of staff who work with the children, as well as any helpers who support the activities of the charitable company.
Pricing policy
Whilst we run regular weekly classes in dance and sport we are mindful of the areas we serve and a charge of £10 per month to access 4 dance classes to meet affordable levels for young people and their families. However, where required this can be waived or in some of our educational programmes we build this into our areas of funding to allow young people to continue on with new levels of interest.
Within the hire of our facilities in Dundee such as football pitches for local youth teams, we keep this at a much lower rate than commercial hire and this has been welcomed by many of the clubs who are themselves volunteers. In addition, the roller hockey rink has given clubs like Dundee Ducks a local venue which has helped their club to build and grow locally.
Our yearly shows have remained the same for several years now with a general set fee of £9 for adults and £7 for concessions. In addition, we ask people to buy one new shirt every year at £7 as again we know locally and commercially the costs of being involved in dance and sport can be unsustainable for many families with weekly class charges much higher than our own but additional costs with outfits and show expenses. We often get feedback from parents of how this is important and shows true value.
This year we are growing or presence in the use of VR and technology to provide social good, with more staff now on site and the ability through funding to build our equipment and resources. We are also partners in the Dundee Digital Forum and continue and aim to extend our work to more schools and communities as jobs and opportunities grow in the Tech sector.
We also hope to offer more dance classes in the local area to address long waiting lists and increase our ability to offer more employability courses across both Dundee and Angus.
We again want to ensure no one is left behind.
Constitution
Showcase the Street is a company limited by guarantee governed by is Memorandum and Articles of Association dated 26 July 2005. It is registered as a charity and company in Scotland (charity number SC035025). Anyone over the age of 16 who supports the aims of the charitable company can become a member, there are currently four members each of whom agrees to pay £1 in the event of the charitable company winding up. There is no subscription fee to become a member.
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:
Method of appointment or election of Trustees
As set out in the Articles of Association, appointment of Trustees is carried out at the annual AGM and minimum of three Trustees must exist to allow the charity to function. Office bearers to include a Chair and a Vice Chair must be appointed each year within these Trustees.
Policies adopted for the induction and training of Trustees
Any new Trustees will undergo a training and orientation day to brief them about legal obligations under charity and company law, and inform them of the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. During induction they will meet key staff and other Trustees. Where relevant and appropriate Trustees are encouraged to attend local and national training events as well as being sent regular briefs by e-mail on updates and changes in practices and or legislation that may affect the charity as well as wider information bulletins on our areas of work. We also encourage Trustees to attend regular staff meetings and visit projects in other areas again where their own time allows.
Key management personnel
The Trustees consider the board of Trustees to be the key management personnel of the charitable company. None of the Trustees were employed by the charitable company in the year and so no Trustee received remuneration, nor did they receive any expenses.
Organisational structure and decision making
The Board of Trustees administers the charitable company, they meet normally on a four monthly to quarterly basis. At present Showcase the Street has a senior manager who has delegated authority in areas such as staffing and practice as well as certain budgets where relevant.
In accordance with the company's articles, a resolution proposing that Findlays be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Showcase the Street for the purpose of company law, 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).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Opinion
We have audited the financial statements of Showcase the Street (the ‘charitable company’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
We have been appointed as auditor under Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Making enquiries of management about any known or suspected instances of non compliance with laws and regulations, including GDPR,Health and Safety, employment law and fraud
Review of correspondence with regulators including OSCR, Companies house and legal advisors
Review of legal fees expenditure and Board minutes
Challenging assumptions and judgements made by management in their significant accounting estimates including fixed asset depreciation, bad debt provisions and allocation of overheads
Auditing the risk of management override controls, including through testing of journal entries and other adjustments for appropriateness
Because of the field in which the client operates we identified the following areas as those most likely to have a material impact on the financial statement: terms and conditions stipulated in grant funding, employment law, Health and Safety regulations, compliance with the UK Companies Act, Charities and Trustees Investment ( Scotland ) Act 2005 and the Charities Regulations 2006.
Because of the inherent limitations of an audit, there is risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charity’s trustees, as a body, in accordance with regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body,and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 14 to 30 form part of these financial statements.
The notes on pages 14 to 30 form part of these financial statements.
The notes on pages 14 to 30 form part of these financial statements.
Showcase the Street is a private company limited by guarantee incorporated in Scotland. The registered office is Unit 6, Manhatten Works, Dundonald Street, Dundee, DD3 7PY.
The financial statements have been prepared in accordance with the charitable company's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants and other income received towards capital expenditure are credited to the statement of financial activities in the year to which they relate.
Government and other grants towards revenue expenditure are credited to revenue in the year to which they relate.
Sublet income is recognised once the charitable company has entitlement to the income.
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 are allocated on the portion of the asset’s use.
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:
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.
At each reporting end date, the charitable company reviews the carrying amounts of its tangible 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).
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.
The charitable 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 charitable company's balance sheet when the charitable 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.
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.
Basic financial liabilities, including creditors and bank loans 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 operations 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.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
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 charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Concessionary loans
Concessionary loans are initially recognised and measured at the amount received, with the carrying amount adjusted in subsequent years to reflect repayments and adjusted if necessary, for any impairments. The loan from The Energy Savings Trust Limited constitutes a concessionary loan.
In the application of the charitable company’s accounting policies, the trustees 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.
Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives is reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.
Fixed assets are also assessed as to whether there are indictors of impairment. This assessment involves consideration of the economic viability of the purpose for which the asset is used.
Wages are allocated across projects both on a direct basis and a percentage basis, Where salaries are funded, the allocation of wages is direct. For employees involved in more than one project, the trustees allocate salaries on a percentage basis.
Grants
Charitable Income
Charitable Income
Trading income within charitable activities
Charitable Expenditure
Charitable Expenditure
Tuition & show expenses
Refreshments & party food
Hire of equipment
Repairs & equipment
Freelance tutors
Office costs
Rent, rates & insurance
Premises expenses
Other professional fees
Bank charges
Loan interest
Subscriptions
Miscellaneous expenses
Motor & travel
Bad debts
% of staff hours
Consultancy fees
% of consultancy hours
Governance costs includes payments to the auditors of £6,000 (2020- £Nil) for audit fees.
The average monthly number of employees during the year was:
A bounce back loan was received in the year to 31 December 2020 amounting to £50,000. It has an outstanding balance at 31 December 2021 of £45,000 (2020 - £50,000) which is repaid in monthly instalments of £833.33 and carries a fixed interest rate of 2.5% per annum.
Social Investment Scotland loan has been full repaid in the year (2020 - £36,137). This loan carried an annual fixed interest rate of 7%.
Jessica Scotland Trust loan has an outstanding balance at 31 December 2021 of £35,484 (2020 - £41,787) which is repaid in monthly instalments of £736 and carries an annual fixed interest rate of 6.5%.
A second loan from Jessica Scotland Trust was received in the year 31 December 2018 amounting to £40,000. This loan has been fully repaid in the year (2020 - £27,448). The loan carried an annual fixed interest rate of 6.5%
A loan was received in the year to 31 December 2018 from the Energy Saving Trust Limited amounting to £9,181. It has an outstanding balance at 31 December 2021 of £5,510 (2020 - £6,650) which is repaid in monthly instalments of £95 and carries no interest.
Purpose of restricted funds
Capital funds - various grants awarded to support capital expenditure
Wellbeing fund - To fund VR staff and equipment to ADHD support group
Scottish Government - To fund staff wages
Northwood Charitable Trust - To fund VR costs
Foundation Scotland - To fund development of VR
Resilient Scotland - To fund development of VR
Big Lottery - To fund VR Game staff, freelance tutors and other expenses.
Tayside Health Board - To fund VR staff wages
Communities Recovery Fund Adapt & Thrive VR - To fund VR costs
Showcase Family Fun - To fund play equipment, freelance tutors and staff wages
Social Investment Scotland - To fund project which will help pre school children develop their skills.
Youthlink Scotland - a number of awards to support VR project costs, poverty and isolation project and VR camps
SCVO - To fund a Digital Project which aims to support people gain computer skills to aid in job searches
Zero Waste Scotland - To fund a low carbon specification report and feasibility study
Adapt & Thrive - To contribute towards the cost of replacement 3g pitches
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
At the reporting end date the charitable company had contracted with sub-let tenants for the following minimum lease payments:
During the year the charitable company entered into the following transactions with related parties:
Name: Community Warehouse Limited (SC475448)
Nature of relationship: Fergus Storrier, a charity trustee, is also a director of the above named company.
The transaction: During the year, the charity paid the above named company a total of £25,500 (2020 - £19,000) for consultancy services provided.
Name: Baby Sensory
Nature of relationship: Claire Puzey, a charity trustee, runs this business within the charity's premises.
The transaction: During the year, the charity received a total of £3,543 (2020 - £3,365) for studio hire.
Due to updated guidance released specifically relating to the accounting treatment of CJRS funding, grant income received from the CJRS scheme has been shown within income from charitable activities and removed from income from donations and legacies.