The Trustees present their annual report and financial statements for the year ended 31 March 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 (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)".
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.
The Charity relies on the support of Companies and other interested parties for its operations . The Patrons and Members have continued to pay monthly which has been a significant factor in maintaining the Charity's revenue.
Donations increased in the year by £4,960 due to increased fundraising activities being carried out. £17,447 was raised in the year.
Grants received are split between Revenue £1,000 (2022: £6,000) and Capital Reserve £nil (2022: £nil).
The grant received from the Mushroom Trust assisted in the development and completion of the IT Project, with three iPads now located in the conservatory to aid learning.
The Charity made two unsuccessful applications for funding to replace concrete slabs, but they are hopeful they will obtain this funding from elsewhere.
Total costs have increased by £9,160, 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 advertising material.
Special Capital Asset Reserve fund which continues as a Designated Fund with the General Fund, remains at £36,510.
Total charity net profit for the year is £3,983 compared to net loss of £12,716 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 £67,650. There were no Restricted Fund balances at 31 March 2023.
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 2023 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 £67,650. There were no Restricted Fund balances at 31 March 2023.
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:
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.
Due to the success of the Charity Golf Day in the previous year, this was repeated again in May. This is the most successful event of the year in raising funds for the Charity.
The Charity also hosted a number of other events including Escapade, a Bee Day, a Christmas Fair and regular monthly folk sessions,
As the Charity looks to increase engagement across the communities of Ayr, a number of ideas are being considered.
There has been suggestions regarding the development of areas to allow people and children to get involved in nature, such as greenhouses for propagating plants for sale and display in the conservatory.
The Charity is also hoping to further expand on the IT Project. This will be achieved operationalising it with the Department for Education within South Ayrshire Council. This will involve developing worksheets for teachers and students to create a teaching package that uses the Charity's app to inform children's learning. The outcome of this project will be a product that the Charity could sell across Scotland in exchange of funding.
Finally, the Charity are working towards the installation of a Heart Defibrillator outside the Conservatory, which is part of a broader programme to improve life chances of those suffering from a heart attack.
The Trustees' report was approved by the Board of Trustees.
I report on the financial statements of the Charity for the year ended 31 March 2023, which are set out on pages 4 to 11.
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.
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.
In connection with my examination, no matter has come to my attention:
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 financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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.
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.
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.
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.
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.
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.
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 charity is exempt from corporation tax on its charitable activities.
Gift aid
Charitable Activities
Charitable Activities
Grants - Property management
Interest received
Collection cans
Plant and book sales
Plant sponsors
Hire
Fundraising costs
Charitable Expenditure
Charitable Expenditure
Insurance
Light and heat
Telephone
Advertising
Sundries
Staff - invoiced
Set up costs
Repairs and renewals
Travel expenses
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 2022.
The average monthly number of employees during the year was:
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.
These are unrestricted funds which are material to the Charity's activities made up as follows:
There were no disclosable related party transactions during the year (2022 - none).