Charity registration number SC042074 (Scotland)
Company registration number SC387349 (Scotland)
BELLEISLE CONSERVATORY LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
BELLEISLE CONSERVATORY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J A Coubrough - Chair
Mr S Robertson - Treasurer
Mr D L Moulds
Secretary
Mrs B Pert
Charity number (Scotland)
SC042074
Company number
SC387349
Registered office
36 Cairn Crescent
Alloway
Ayr
Ayrshire
United Kingdom
KA7 4PW
Independent examiner
Stephen Wilkie B.A. C.A.
Azets
3 Wellington Square
Ayr
Ayrshire
United Kingdom
KA7 1EN
BELLEISLE CONSERVATORY LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
BELLEISLE CONSERVATORY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

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)".

Objectives and activities

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

 

Financial review

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.

Structure, governance and management

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

Mr J A Coubrough - Chair
Mr S Robertson - Treasurer
BELLEISLE CONSERVATORY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Mr D L Moulds

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.

 

Events

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,

Plans for the Future

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.

Mr S Robertson - Treasurer
Trustee
Dated: 9 October 2023
BELLEISLE CONSERVATORY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BELLEISLE CONSERVATORY LIMITED
- 3 -

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.

Respective responsibilities of Trustees and examiner

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

Basis of independent examiner's statement

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

Independent examiner's statement

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

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

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

(ii)

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

have not been met or
(b)

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

Azets
Stephen Wilkie C.A.
3 Wellington Square
Ayr
Ayrshire
KA7 1EN
United Kingdom
Dated: 9 October 2023
BELLEISLE CONSERVATORY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
2
34,155
17,789
Charitable activities
3
1,000
6,000
Other trading activities
4
35,919
21,426
Total income
71,074
45,215
Expenditure on:
Raising funds
5
5,316
8,152
Charitable activities
6
61,775
49,779
Total expenditure
67,091
57,931
Net income/(expenditure) for the year/
Net movement in funds
3,983
(12,716)
Fund balances at 1 April 2022
63,667
76,383
Fund balances at 31 March 2023
67,650
63,667

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BELLEISLE CONSERVATORY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
12
38,376
40,353
Current assets
Stocks
13
1,854
2,470
Debtors
14
-
25
Cash at bank and in hand
28,770
23,344
30,624
25,839
Creditors: amounts falling due within one year
15
(1,350)
(2,525)
Net current assets
29,274
23,314
Total assets less current liabilities
67,650
63,667
Income funds
Unrestricted funds - general
Designated funds
17
36,510
36,510
General unrestricted funds
31,140
27,157
67,650
63,667
67,650
63,667

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 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 9 October 2023
Mr S Robertson - Treasurer
Trustee
Company registration number SC387349
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

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

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

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

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

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

1.2
Charitable funds

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

 

The following Unrestricted, Designated Fund has been set up:

 

Special Capital Asset Reserve

This fund is for the purchase of capital assets.

1.3
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.4
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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
at varying rates on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.6
Stocks

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

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

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Taxation

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

2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Donations and gifts
17,447
12,487
Legacies
10,871
-

Gift aid

5,837
5,302
34,155
17,789
3
Charitable activities

Charitable Activities

Charitable Activities

2023
2022
£
£

Grants - Property management

1,000
6,000
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
4
Other trading activities
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£

Interest received

208
6
Fundraising events
19,848
10,290

Collection cans

2,404
1,291

Plant and book sales

11,659
5,755

Plant sponsors

-
1,084

Hire

1,800
3,000
Other trading activities
35,919
21,426
5
Raising funds
Unrestricted
Unrestricted
funds
funds
general
general
2023
2022
£
£
Fundraising and publicity

Fundraising costs

5,316
8,152
5,316
8,152
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
6
Charitable activities

Charitable Expenditure

Charitable Expenditure

2023
2022
£
£
Depreciation and impairment
11,177
9,561

Insurance

517
1,191

Light and heat

4,650
3,496

Telephone

2,081
1,163

Advertising

1,371
704

Sundries

1,473
404

Staff - invoiced

18,372
11,970

Set up costs

15,970
17,664

Repairs and renewals

5,029
2,664

Travel expenses

119
38
60,759
48,855
Share of governance costs (see note 7)
1,016
924
61,775
49,779
7
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£
Independent examiner
-
1,016
1,016
-
924
924
-
1,016
1,016
-
924
924
Analysed between
Charitable activities
-
1,016
1,016
-
924
924
8
Net movement in funds
2023
2022
£
£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
11,177
9,561
9
Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year nor for the prior year ended 31 March 2022.

BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
10
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.
11
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.

12
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2022
80,814
Additions
9,197
At 31 March 2023
90,011
Depreciation and impairment
At 1 April 2022
40,458
Depreciation charged in the year
11,177
At 31 March 2023
51,635
Carrying amount
At 31 March 2023
38,376
At 31 March 2022
40,353
13
Stocks
2023
2022
£
£
Stocks
1,854
2,470
BELLEISLE CONSERVATORY LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
14
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
-
25
-
25
15
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,350
2,525
16
Unrestricted funds - designated

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

17
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Movement in funds
Movement in funds
Balance at
1 April 2021
Incoming resources
Balance at
1 April 2022
Incoming resources
Balance at
31 March 2023
£
£
£
£
£
Special Capital Asset Reserve
34,510
2,000
36,510
-
36,510
34,510
2,000
36,510
-
36,510
18
Related party transactions

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

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