REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 18 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 |
Aims, Objectives and Activities |
The company has been formed to benefit the community with the postcode units as defined in appendix 1 of the company's Memorandum and Articles of Association (a copy of which is available upon request from the Registered Office) with the following objects: |
1) The advancement of community development, including the advancement of rural regeneration; |
2) To provide within the Community recreational facilities, or organize recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended. |
3) To advance the arts and/or culture; |
4) To advance environmental protection and improvement in the Community through the provision, maintenance and/or improvement of public open spaces and other public amenities and other environmental and regeneration projects (but subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit thereby conferred on private landlords); |
5) To provide or assist in the provision of housing for people in necessitous circumstances within the Community; |
6) To help young people, particularly those resident in the Community, to develop their physical, mental and spiritual capacities, such that they may grow to full maturity as individuals and as members of the society; |
7) To advance heritage and/or preserve, for the benefit of the general public, the historical, architectural and constructional heritage that may exist in and around the Community in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest; |
8) To advance citizenship and/or community development (including the promotion of civic responsibility and the promotion of the voluntary sector and/or the effectiveness or efficiency of charities and promotion of trade and industry); |
9) To promote, establish, operate and/or support other similar schemes and projects of a charitable nature for the benefit of the community within the Community; but such that the company shall do so following principles of sustainable development. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
April 2022 to March 2023 was challenging year for small charities with increased running costs and major reductions in grant funding. Thanks to the foundation work of previous years 22/3 saw a 28% increase in income from New Broom. This plus volunteer time from both directors and staff have allowed the Trust to operate despite the loss of HIE funding for development officer time. |
Community Needs Survey 2021 this continues to guide the Trust in project priorities, firstly- Affordable housing followed by employment and training, with the environment, sustainability and climate change, health and wellbeing and community transport all following close behind. These priorities are now reflected in the Trust's active working groups each having a board member involved who reports back to the board on their activities. |
The Affordable Housing group conducted an audit of vacant properties and housing stock in the winter Spring of 2022/3. Following a meeting of the Housing group a Regenerate Lochbroom group was formed to look specifically at empty properties and how they might be brought back into use. This group also facilitated public meetings to discuss the closure of the local nursing home. |
The Employment and Training group set up an informal employment bank, putting workers in touch with employers. They were successful in applying for funding ( Foundation Scotland - EDF Corrie Mollie education fund) to cover training costs for group users and have recruited several local employers and potential workers. |
Active Travel and Community Transport group - During 2022 LUCT took part in the Sustaining Choices programme supported by Planning Aid Scotland with funding from Paths for All and Hitrans. The programme facilitated community engagement to identify actions that could improve the way that we move around our community. Though focused on Active Travel (walking, wheeling and cycling) and accessibility, actions to improve community transport, parking and traffic calming measures were also identified. LUCT is now working with a number of organisations to deliver on those actions. In November 2022, LUCT was awarded funding through Sustrans' 'Places for Everyone' fund to develop a strategy for active travel and, in particular, confirm community appetite for a path that would link communities between Braemore Junction and Ardmair. |
The environment and sustainability group successfully bid for funding to join a Highland wide waste reduction project the Highland Community Waste Partnership (HCWP). This three year project runs until March 2025 and is aimed at combatting climate change through waste reduction. The Trust employs a part time waste reduction development officer Catriona Scott, who has been running a wide range of initiatives, workshops and events for individuals and businesses in our area. This is a fully funded project, funded by the National Lottery, with 8 community groups as partners, led by Keep Scotland Beautiful. |
The above project fits neatly with the ongoing work of the New Broom in diverting items from landfill. All funding from HIE ceased in 2021/2 this was retrospective funding the last claim for reimbursement being received in May 2022. New double glazed doors and the replacement of leaking single glazed windows was completed in the autumn of 2022 with the aim of double glazing the remaining 3 picture windows at some future date. The new upcycling posts created in 21/2, have been continued, we are most grateful to the Ullapool Harbour Trust for allowing us the use of the community workshop. PAT tested small electrical items and rejuvenated furniture and soft furnishings have expanded the range of goods for sale, in turn raising the quality of items donated. The steady increase in shop income will result in our becoming VAT registered in the year to come. |
We have diverted some 20 tonnes of donations from landfill and have been able to support local groups, directly, through gifting them useful items, or by promoting their causes and fundraising initiatives within the shop. |
The Community Pantry continued to ensure that good food did not go to waste. Through the Foodiverse Scheme Ullapool Tesco provided the Pantry with fruit, veg and bread and we also received locally grown garden surplus. The pantry is checked daily by volunteers and is free for all to make use of to donate their own surplus or take what they can make use of. Combatting food waste and food poverty in one small space. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
During the year, UCT again acted as facilitator for the Community Benefit Fund (CBF) - funds which accumulate each year from a combination of Broom Power surplus income, donated interest from Lochbroom Community Renewables investors and gift aid. The projects supported this year were, Parish Hub - hardship fund, Ullapool and District Youth Club, Lochbroom Community Council's beach clean and Quay Street Play Park refurb. Scoraig Community Centre -equipment, Ullapool Sea Savers- accessible boat trips, Ullapool Golf course - junior golf equipment, Isle Martin Trust - croft house drainage, Welcome Ullapool - wildflower garden, Kindercroft - woodburner and junior sail equipment for Lochbroom Sailing Club. Thanks to the CBF panel, for their work in reviewing and scoring the fund applicants. |
The Directors gratefully acknowledge our various funders, the goodwill and time of our many volunteers and the wider community for their continued support. In particular the Directors would like to thank Tim Gauntlett who was Chair Dec 2021 to Jan 2023 and Mamta Patel our current Chair. |
FINANCIAL REVIEW |
Financial review |
Details of the financial results are set out in the following pages. |
Substantial unrestricted reserves are necessary for management of cash-flow and in addition the charity continues to endeavour to attain a level of reserve that would permit 6 months expenditure to be met. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Structure, governance and management |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Ullapool Community Trust Ltd is a company limited by guarantee and not having a share capital, governed by it Memorandum and Articles of Association, incorporated on 11th March 2009, and is registered as a charity with the Office of the Scottish Charity Regulator. In the event of the company being wound up, members are required to contribute a sum not exceeding £1.00p. |
The management of the company is the responsibility of the trustees (also referred to in this report and the financial statements as the directors) who are elected under the terms of the Memorandum and Articles of Association. New directors are elected annually at the AGM by vote in person or by proxy, |
The company is a membership organisation and the members are responsible for electing the Board of Directors, which meets on a regular basis to consider the strategic decisions. The implementation is then delegated to employees. |
Recruitment, appointment, induction and training of Directors |
The trustees have the power to appoint and assume such other trustee as they feel necessary for the purpose of the administration of the Trust. New trustees are likely to be familiar with the work of the charity and its objectives. |
New Trustees are expected to spend time with the existing trustees to familiarise themselves with: |
The duties of Board Members |
The main documents that set out the operational framework for the charity, including the Trust Deed and Memorandum and articles of Association |
The work of the Trust and its finances, referring to the last annual accounts and recent Board Minutes. |
The strategy that has been adopted. |
The plans and objectives that flow from that strategy |
The Charities and Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) |
The overall management and policy decisions are the responsibility of the trustees who are appointed under the terms of the Trust Deed and Articles of Association. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
A Cumming |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
DIRECTORS' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS |
Company law requires the Directors to prepare financial statements that five a true and fair view of the state of affairs of the charity at the end of the financial year and it surplus or deficit for the financial year. In doing so the directors are required to: |
Select suitable accounting policies and then apply them consistently |
Make sound judgements and estimates that are reasonable and prudent |
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business |
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies act 1985. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
This report was approved by the Board and signed on its behalf by: |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Lochbroom & Ullapool Community Trust Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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 and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with 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. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Lochbroom & Ullapool Community Trust Ltd |
I report on the accounts for the year ended 31 March 2023 set out on pages seven to eighteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as 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 accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
A Cumming |
The Institute of Chartered Accountants of Scotland |
Mann Judd Gordon Ltd |
Chartered Accountants |
26 Lewis Street |
Stornoway |
Isle of Lewis |
HS1 2JF |
2 November 2023 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 17 | (9,027 | ) | 9,027 | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 198,026 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
Investments | 13 |
CURRENT ASSETS |
Stocks | 14 |
Debtors | 15 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 16 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 17 |
Unrestricted funds | 191,948 |
Restricted funds | 6,078 |
TOTAL FUNDS | 198,026 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD (REGISTERED NUMBER: SC356419) |
Balance Sheet - continued |
31 March 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | DONATIONS AND LEGACIES |
31.3.23 | 31.3.22 |
£ | £ |
Donations |
Gift aid |
Other income |
3. | OTHER TRADING ACTIVITIES |
31.3.23 | 31.3.22 |
£ | £ |
Hub Sales | 77,572 | 60,421 |
4. | INVESTMENT INCOME |
31.3.23 | 31.3.22 |
£ | £ |
Bank account interest |
5. | INCOME FROM CHARITABLE ACTIVITIES |
31.3.23 | 31.3.22 |
Activity | £ | £ |
Grants | Charitable activities | 45,325 | 40,024 |
Grants received, included in the above, are as follows: |
31.3.23 | 31.3.22 |
£ | £ |
HIE - LDO Support | - | 14,495 |
SLF - Lael Forest | - | 4,864 |
HIE Hub Development Fund | 5,021 | 12,565 |
Lochbroom Community Renewables | 7,000 | - |
Highland Council | - | 7,000 |
Job Retention Scheme (furlough) | - | 1,025 |
HCWP | - | 75 |
Keep Scotland Beautiful | 22,822 | - |
Hitrans | 3,600 | - |
EDF | 250 | - |
Foundation Scotland | 3,000 | - |
Highland Climate Festival | 868 | - |
Sustrans Scotland | 994 | - |
Harbour Trust | 1,770 | - |
45,325 | 40,024 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities |
Direct | (see note | Support |
Costs | 7) | costs | Totals |
£ | £ | £ | £ |
Charitable activities | 116,548 | 12,707 | 2,052 | 131,307 |
Depreciation | 630 | - | - | 630 |
117,178 | 12,707 | 2,052 | 131,937 |
7. | GRANTS PAYABLE |
31.3.23 | 31.3.22 |
£ | £ |
Charitable activities | 12,707 | 27,909 |
The total grants paid to institutions during the year was as follows: |
31.3.23 | 31.3.22 |
£ | £ |
COVID-19 Recovery Awards | - | 23,174 |
Community Benefit Fund Awards | 12,257 | 4,735 |
British Red Cross (Ukraine) | 450 | - |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Depreciation - owned assets |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
All staff |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 113,718 | (113,718 | ) | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 64,129 | 158,497 |
TOTAL FUNDS CARRIED FORWARD | 191,948 | 6,078 | 198,026 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
12. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2022 and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Transfer of freehold property to unrestricted |
The freehold property, 28 Argyll Street, Ullapool, was purchased with grant assistance from the Scottish Land Fund and is subject to various terms and conditions applicable to its use and ownership. The asset-monitoring period is now complete and all terms of the grant have been met, so trustees have agreed on a transfer to unrestricted funds in accordance with the Charity SORP section 2.12. |
13. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
MARKET VALUE |
At 1 April 2022 and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 | 100 |
At 31 March 2022 | 100 |
There were no investment assets outside the UK. |
The company's investments at the balance sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: Supply of biomass and wood products |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
14. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Stocks |
15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other debtors |
Other loan | 994 | - |
Prepayments and accrued income |
Accrued income | - | 1,008 |
16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Pensions | 146 | 112 |
Accrued expenses |
17. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 191,948 | 980 | (9,027 | ) | 183,901 |
Restricted funds |
Community Benefit Fund | 1,455 | (1,405 | ) | 251 | 301 |
Hub Development Fund | 1,653 | (10,429 | ) | 8,776 | - |
Recovery | 746 | (746 | ) | - | - |
Adapt & Thrive | 2,209 | (2,209 | ) | - | - |
HCWP | 15 | 5,253 | - | 5,268 |
Employment & Training | - | 3,250 | - | 3,250 |
Highland Climate Festival | - | 316 | - | 316 |
(5,970 | ) |
TOTAL FUNDS | (4,990 | ) | 193,036 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
17. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 78,783 | (77,803 | ) | 980 |
Restricted funds |
Community Benefit Fund | 13,122 | (14,527 | ) | (1,405 | ) |
Hub Development Fund | 5,021 | (15,450 | ) | (10,429 | ) |
Recovery | - | (746 | ) | (746 | ) |
Adapt & Thrive | (1 | ) | (2,208 | ) | (2,209 | ) |
HCWP | 22,821 | (17,568 | ) | 5,253 |
MTB Project | 1,770 | (1,770 | ) | - |
Active Travel | 4,594 | (4,594 | ) | - |
Employment & Training | 3,250 | - | 3,250 |
Highland Climate Festival | 868 | (552 | ) | 316 |
( |
) | (5,970 | ) |
TOTAL FUNDS | ( |
) | (4,990 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 64,129 | 14,101 | 113,718 | 191,948 |
Restricted funds |
Community Benefit Fund | 5,930 | (4,475 | ) | - | 1,455 |
Hub Development Fund | 3,714 | (2,061 | ) | - | 1,653 |
Property Fund | 115,862 | - | (115,862 | ) | - |
HIE - LDO Support | 980 | (999 | ) | 19 | - |
Recovery | 25,120 | (24,374 | ) | - | 746 |
Adapt & Thrive | 6,891 | (4,682 | ) | - | 2,209 |
Forestry Project | - | (1,546 | ) | 1,546 | - |
MTB Project | - | (579 | ) | 579 | - |
HCWP | - | 15 | - | 15 |
158,497 | (38,701 | ) | (113,718 | ) | 6,078 |
TOTAL FUNDS | 222,626 | (24,600 | ) | - | 198,026 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
17. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 69,555 | (55,454 | ) | 14,101 |
Restricted funds |
Community Benefit Fund | 1,120 | (5,595 | ) | (4,475 | ) |
Hub Development Fund | 13,265 | (15,326 | ) | (2,061 | ) |
HIE - LDO Support | 14,494 | (15,493 | ) | (999 | ) |
Recovery | - | (24,374 | ) | (24,374 | ) |
Adapt & Thrive | 1 | (4,683 | ) | (4,682 | ) |
Forestry Project | 4,864 | (6,410 | ) | (1,546 | ) |
MTB Project | 360 | (939 | ) | (579 | ) |
HCWP | 75 | (60 | ) | 15 |
34,179 | (72,880 | ) | (38,701 | ) |
TOTAL FUNDS | 103,734 | (128,334 | ) | (24,600 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 64,129 | 15,081 | 104,691 | 183,901 |
Restricted funds |
Community Benefit Fund | 5,930 | (5,880 | ) | 251 | 301 |
Hub Development Fund | 3,714 | (12,490 | ) | 8,776 | - |
Property Fund | 115,862 | - | (115,862 | ) | - |
HIE - LDO Support | 980 | (999 | ) | 19 | - |
Recovery | 25,120 | (25,120 | ) | - | - |
Adapt & Thrive | 6,891 | (6,891 | ) | - | - |
Forestry Project | - | (1,546 | ) | 1,546 | - |
MTB Project | - | (579 | ) | 579 | - |
HCWP | - | 5,268 | - | 5,268 |
Employment & Training | - | 3,250 | - | 3,250 |
Highland Climate Festival | - | 316 | - | 316 |
158,497 | (44,671 | ) | (104,691 | ) | 9,135 |
TOTAL FUNDS | 222,626 | (29,590 | ) | - | 193,036 |
LOCHBROOM & ULLAPOOL COMMUNITY TRUST LTD |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
17. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 148,338 | (133,257 | ) | 15,081 |
Restricted funds |
Community Benefit Fund | 14,242 | (20,122 | ) | (5,880 | ) |
Hub Development Fund | 18,286 | (30,776 | ) | (12,490 | ) |
HIE - LDO Support | 14,494 | (15,493 | ) | (999 | ) |
Recovery | - | (25,120 | ) | (25,120 | ) |
Adapt & Thrive | - | (6,891 | ) | (6,891 | ) |
Forestry Project | 4,864 | (6,410 | ) | (1,546 | ) |
MTB Project | 360 | (939 | ) | (579 | ) |
HCWP | 22,896 | (17,628 | ) | 5,268 |
MTB Project | 1,770 | (1,770 | ) | - |
Active Travel | 4,594 | (4,594 | ) | - |
Employment & Training | 3,250 | - | 3,250 |
Highland Climate Festival | 868 | (552 | ) | 316 |
85,624 | (130,295 | ) | (44,671 | ) |
TOTAL FUNDS | 233,962 | (263,552 | ) | (29,590 | ) |
18. | RELATED PARTY DISCLOSURES |
19. | ULTIMATE CONTROLLING PARTY |
Ullapool Community Trust is a company limited by guarantee. The liability of members is limited and is not to exceed £1. The ultimate controlling party is therefore considered to be the board of trustee. |