DALMELLINGTON PARISH DEVELOPMENT TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Company Registration No. SC619447 (Scotland)
Charity Registration No. SC050684 (Scotland)
DALMELLINGTON PARISH DEVELOPMENT TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Miss Shirley Anderson
Ms Rae Smith
Ms Elaine Stewart
Mr Andrew Filson
Mr Vasile Toch
Mr Lee Orr
(Appointed 4 October 2023)
Charity number (Scotland)
SC050684
Company number
SC619447
Registered office
10 High Main Street
Dalmellington
Ayrshire
KA6 7QN
Independent examiner
Neil Reid FCCA
William Duncan + Co Ltd
30 Miller Road
Ayr
Ayrshire
KA7 2AY
Bankers
Royal Bank of Scotland
Ayr Chief Office
30 Sandgate
Ayr
Ayrshire
KA7 1BY
DALMELLINGTON PARISH DEVELOPMENT TRUST
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 10
DALMELLINGTON PARISH DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JANUARY 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 January 2023.

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 Memorandum and Articles of Association, 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 company has been formed to benefit principally the community of Dalmellington Parish which comprises the areas of Bellsbank, Burnton, Dalmellington and Waterside with the following objectives:

  1. The advancement of community development (including the advancement of rural regeneration) principally within the Community

  2. The advancement of arts, heritage, culture or science

  3. Advancement of environmental protection or improvement including preservation and conservation of the natural environment, the promotion of sustainable development, the maintenance, improvement or provision of environmental amenities for the community and the preservation of buildings or sites of architectural, historic or other importance to the community

  4. The provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended. Community and the public at large with the object of improving the conditions of life of the Community, and

  5. Any other purpose that may reasonably be regarded as analogous to any of the preceding purposes but only to the extent that the above purposes are consistent with furthering the achievement of sustainable development.

Achievements and performance

The charity had very little activity during the year with only some project research and feasibility work carried out to assess future projects. £380 was drawn from a grant funder to cover this activity.

Financial review

The charity received grants and donations of £393 and paid expenditure of £393. The inclusion of year end accruals has left the charity with deficit in unrestricted funds of £900. The deficit is purely as a result of these accruals which will be covered by income received post year end before the accruals are due to be paid.

The charity does not currently have a Reserves Policy as it has no committed expenditure or requirement for reserves to March 2023. A Reserve Policy will be in place for Financial Year 2023/24 when the charity begins the activities outlined in the plans for future periods.

Plans for future periods

The Trust is expecting to receive its first instalment of Community Wind Farm Benefit funding mid-year 2023. To manage this, the Trust will be employing 2 Development Officers, funding for these positions has been agreed with Foundation Scotland/South Kyle Wind Farm (£60,000 per annum). Funding has also been agreed for a £50,000/annum Community fund and £15,000/annum Training & Education Fund. Funding access through Foundation Scotland/South Kyle Wind Farm and the 9CC Group for large community legacy projects will open towards the end of 2023.

Structure, governance and management

The charity is a company limited by guarantee and governed by its Articles of Association.

DALMELLINGTON PARISH DEVELOPMENT TRUST
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 2 -

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:

Miss Shirley Anderson
Ms Rae Smith
Ms Elaine Stewart
Ms Sandra Mair
(Resigned 30 September 2023)
Mr Andrew Filson
Mr Vasile Toch
Ms Stella Holmes
(Resigned 4 April 2023)
Mr Lee Orr
(Appointed 4 October 2023)

The maximum number of directors shall be ten; out of that number, no more than seven shall be Member Directors and no more than three shall be Co-opted Directors. At any given time, directors who are also Ordinary Members must form a majority of the total number of directors in office. The minimum number of directors shall be four, of whom a majority must be Member Directors.

At each annual general meeting, the Ordinary Members may elect any Ordinary Member (providing they are willing to act) to be a director. The board may at any time appoint any Ordinary Member (providing they are willing to act) to be a director.

In addition the board may appoint any individual (providing they are willing to act) to be a director (a “Co-opted Director”) on the basis that:

  1. they have specialist experience and/or skills which could be of assistance to the board; or

  2. they are in a position to bring an additional perspective (e.g. a young person’s perspective) to the work of the board.

 

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

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

Miss Shirley Anderson
Trustee
25 October 2023
DALMELLINGTON PARISH DEVELOPMENT TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DALMELLINGTON PARISH DEVELOPMENT TRUST
- 3 -

I report on the financial statements of the charity for the year ended 31 January 2023, which are set out on pages 4 to 10.

Respective responsibilities of trustees and examiner

The charity’s trustees, who are also the directors of Dalmellington Parish Development Trust 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.

Neil Reid FCCA
26 October 2023
William Duncan + Co Ltd
Chartered Accountants
30 Miller Road
Ayr
Ayrshire
KA7 2AY
DALMELLINGTON PARISH DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:
Donations and legacies
3
13
-
13
-
Charitable activities
4
-
380
380
-
Total income
13
380
393
-
Expenditure on:
Charitable activities
5
913
380
1,293
-
Net expenditure for the year/
Net movement in funds
(900)
-
(900)
-
Fund balances at 1 February 2022
-
-
-
-
Fund balances at 31 January 2023
(900)
-
(900)
-
0

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.
DALMELLINGTON PARISH DEVELOPMENT TRUST
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
10
(900)
-
Net current liabilities
(900)
-
Income funds
Unrestricted funds
(900)
-
(900)
-
0

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 January 2023.

The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 25 October 2023
Miss Shirley Anderson
Trustee
Company registration number SC619447
DALMELLINGTON PARISH DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
1
Accounting policies
Charity information

Dalmellington Parish Development Trust is a private company limited by guarantee incorporated in Scotland. The registered office is 10 High Main Street, Dalmellington, Ayrshire, KA6 7QN.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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 charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities 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. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity 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. The inclusion of year end accruals has left the charity with deficit in unrestricted funds of £900. The deficit is purely as a result of these accruals which will be covered by income received post year end before the accruals are due to be paid.

 

1.3
Charitable funds

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.

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity 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 receivable are credited to the Statement of Financial Activities (SOFA) in the year in which they are awarded, providing entitlement, certainty and measurement can be confirmed.

1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

DALMELLINGTON PARISH DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 7 -
1.6
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.

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.

Basic financial liabilities

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’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.

3
Donations and legacies
Unrestricted
Total
funds
2023
2022
£
£
Donations and gifts
13
-
DALMELLINGTON PARISH DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 8 -
4
Charitable activities

Community Projects

2022
2023
£
£
Performance related grants
380
-
Performance related grants
Coalfield Communities Landscape Partnership
380
-
380
-
5
Charitable activities

Community Projects

2022
2023
£
£

Project Research and Feasibility

380
-
Share of support costs (see note 6)
13
-
Share of governance costs (see note 6)
900
-
1,293
-
Analysis by fund
Unrestricted funds
913
-
Restricted funds
380
-
1,293
-
DALMELLINGTON PARISH DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 9 -
6
Support costs
Support costs
Governance costs
2023
£
£
£

Finance costs

13
-
13

Accountancy fees

-
900
900
13
900
913
Analysed between
Charitable activities
13
900
913

Governance costs includes payments to the examiners of £900 inc VAT (2022- £nil) for independent examination fees.

7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
900
-
DALMELLINGTON PARISH DEVELOPMENT TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 10 -
11
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Incoming resources
Balance at
1 February 2022
Incoming resources
Resources expended
Balance at
31 January 2023
£
£
£
£
£
Bike Track
-
-
380
(380)
-

Bike Track - Includes Funds received from Coalfield Communities Landscape Partnership (CCLP) to develop and build a new inclusive Bike Track in Dalmellington, only feasibility work has been performed this year.

12
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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