REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 30 June 2023 |
for |
Elgin Town Hall For The Community Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 30 June 2023 |
for |
Elgin Town Hall For The Community Ltd |
Elgin Town Hall For The Community Ltd |
Contents of the Financial Statements |
For The Year Ended 30 June 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 | 16 |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Report of the Trustees |
For The Year Ended 30 June 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 30 June 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). |
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 charity and of the incoming resources and application of 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. |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities |
The trustees present their report and financial statements for the year ended 30 June 2023. |
The charity filed dormant accounts to the year end 30 June 2018 and began to operate on 1 July 2018. Elgin Town Hall for the Community Ltd became a registered charity from 6th June 2018. |
The financial statements for the year ended 30 June 2023 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)" (as amended for accounting periods commencing from 1 January 2016) |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Report of the Trustees |
For The Year Ended 30 June 2023 |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity was originally established to save Elgin Town Hall from closure in 2018 and to position it so that it could, thereafter, continue to function in a financially sustainable manner. This objective remains in place, alongside the following. |
The advancement of citizenship and community development. |
The advancement of the arts, heritage, culture and science. |
The provision of recreational facilities, with the objective of improving the conditions of life for the persons for whom the facilities and activities are primarily intended. |
1. Principal Reason for Formation of Charity |
The main motivation behind local people within the Moray community coming together to form the charity, was the desire and determination to save Elgin Town Hall from closure by the Moray Council with effect from July 2018. The understanding was that the Hall would only be kept open if a community group was formed and met the criteria for running a Hall in their own right. |
One the basis of the financial case that we were able to make to the Council, we were allowed to take over the running of the Hall from August 2018 and remained so in June 2023. |
The requirement, originally, was to operate on a two-year lease basis, with the expectation being that Elgin Town Hall for the Community would submit a "Community Asset Transfer" before the end of our second year of existence, i.e. by July 2020. |
Unfortunately, circumstances led to the Board delaying the submission of a Community Asset Transfer. This very much related to uncertainty relating to the development of the "Moray Growth Deal" on the Hall's future and, also, because of the impact of Covid-19 on our ability to trade from April 2020. |
The charity was granted a 5-year lease from Moray Council starting in August 2020 that we very much welcomed (this was previously a 1-month lease and remains so). We have still not taken up this option, as we continue to assess the likely impact of the Moray Growth Deal, and in reality, circumstances are likely to change as the improvements to the Hall become a reality. |
2. Beneficiaries of Elgin Town Hall for the Community |
The Board recognised that access to the Hall was originally intended mainly for the citizens of Elgin but what we have brought about was aimed at the community of Moray as a whole. Reflecting this as an essential development, we made changes to our "Articles of Association" at the Annual General Meeting held in August 2019, that redefined "community" as being Moray-wide and not attached to specific Moray postal codes as was previously the case. |
We have pledged to ensure that the Hall is a vibrant and welcoming facility, offering a greater range of opportunities for people across Moray. |
We very much believe that our community has very much appreciated the way in which the Hall is operated and the transformation that we have made. What they now await is offer of new events taking us to the next step in our quest to make Elgin Town Hall for the Community a venue of choice for the people of Moray and beyond. |
Over the past year, we have continued to work closely with the Cultural Quarter Board to develop a strategy for Elgin Town Hall to continue to meet the needs of our community, but also to become a future-proofed resource which will serve the wider cultural aims of Moray. This work is ongoing and as we move into a position where the full business case is being prepared for presentation to both Westminster and Holyrood parliaments, our Board will remain at the heart of these discussions. |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Report of the Trustees |
For The Year Ended 30 June 2023 |
3. Purpose of Charity |
Our main purpose relates to the sustainable development of the Hall and, six years on in August 2023, the Board is very pleased that we are in the position that we've arrived at, notwithstanding the tremendous challenges that we have had to face throughout. |
We continue to recognise that the sustainability of the Hall is vital. What we are principally about is to provide our community with access to a venue that provides a breadth of high quality and affordable events that amount to `something for everyone` and which makes them want to return, time and time again. |
4. Impact of Charity |
By common local consent, we had brought about a hugely significant transformation of the Hall from what went before from August 2018 through to April 2020 in terms of what our community was keen to respond to. This was evident in the breadth of opportunities available to them and their take up of what we offered. |
We are able to offer events that can be provided for up to 600 customers and we have also developed and delivered opportunities for many community groups to use the Hall on a regular basis. This confirms the importance that we see as a Board in providing very much needed social opportunities for all, as well as being a venue that has a growing economic impact locally. |
5. Charity's Challenge |
As we emerge from the post-Covid recovery, it is heartening to see that we are welcoming full audiences back to the Hall. Our community usage also continues to grow, and we welcome all of our user groups who support us. |
The financial position and our viability continue to be a major concern of the Board in the face of rising utility costs and the pressures that this brings. We are also very aware of the impact that the cost-of-living crisis is having on our customers, and we appreciate that our events may become a luxury for many. |
Thanks to the ongoing support of Highlands & Islands Enterprise and that of the Adam Family Foundation, we were fortunate to be able to appoint a Hall Manager in September 2021. This appointment has removed some of the day-to-day pressures from the 'volunteer' Directors, although there are still significant pressures which we must address. As this funding comes to an end, we are delighted to say that we have been able to sustain the post, which is the outcome sought by our funders. We remain grateful for their support. |
We have also been fortunate to engage with the Moray Employer Recruitment Incentive scheme (MERI) which allowed us to appoint a young person to the role of Events Assistant for the period of one year. This post offered some support to the Hall Manager and the facilities staff. |
Elgin Town Hall for the Community has also re-signed up to the Scottish Government's Young Person's Guarantee and we continue to work closely with Developing the Young Workforce (DYW) Moray to take this forward. |
Our Hall Manager undertook to support the Career Ready programme by becoming a Mentor and we welcomed his Mentee for her internship in June. |
We are also grateful to the Positive Action Group (PAG) who have continued to support us this year through maintenance of the flowerbeds around the Town Hall. It is important that the exterior aspect of the Town Hall is as appealing as the interior. We must also thank other supporters, including several businesses such as McDonald & Munro and Tivoli who have given their time and workforce to support our charity. |
As a Board, we are a partner in the development of the "Cultural Quarter" for Elgin that forms part of the "Moray Growth Deal". We have a Cultural Quarter sub group in our Board and we are actively engaged in the development of the Full Business Case. The Hall will undertake significant changes over the course of the Growth Deal and we are currently looking for alternative options for both our community groups and to maintain our programme of events with the minimum disruption. |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Report of the Trustees |
For The Year Ended 30 June 2023 |
6. Accountability as a Charity |
We have established many community members, to whom we are responsible as a Board. The members are invited to our Annual General Meetings and other occasional meetings. |
As a Board, we are currently considering our Articles of Association to ensure that they continue to work for Elgin Town Hall for the Community. This will be discussed further at our Annual General Meeting. |
We have many volunteers, without whom, we would not be able to function. The volunteers are led by a Board member who maintains regular contact. The Board is hugely grateful to all volunteers and bar staff who enable us to continue to deliver events for the Moray community. |
We also have a very large number of followers on social media who show a huge and continuing interest in what we are doing and who provide very welcome support and encouragement to us. |
7. Responsibility for Preparing the Trustees' Annual Report |
It is recognised that the charity trustees are ultimately responsible for preparing the Trustees Annual Report. |
It is our trustees, therefore, who are best placed to put forward what we consider to be our achievements. |
This Report was drafted by the Chair of the Charity Board in the first instance and then discussed with and agreed by all of the charity trustees at a meeting of the trustees on 30 August 2023. |
FINANCIAL REVIEW |
The level of unrestricted funds held at the year end was £221,601 of which £91,200 is represented by fixed assets and £141,123 by liquid funds. |
It is the aim of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, that they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. |
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. |
As mentioned above, the charity is heavily dependent on volunteers who have devoted a great deal of time to Elgin Town Hall for the Community, both in the initial stages and in respect of the continuing running of the charity. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
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. |
New trustees are appointed at the Annual General Meeting or may be appointed by the existing trustees during the year. Changes to the Articles of Association were agreed at the Annual General Meeting of the Town Hall on Wednesday 21 August 2019. |
At each Annual General Meeting, where Directors have served two terms of office (with a term being 3 years), they shall demit from office. However, they can become eligible again after at least one year out of office. |
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 management of the charity is the responsibility of the trustees who are elected at the Annual General Meeting. The charity is administered by the board of trustees. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Report of the Trustees |
For The Year Ended 30 June 2023 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Elgin Town Hall For The Community Ltd |
I report on the accounts for the year ended 30 June 2023 set out on pages seven to sixteen. |
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. |
Alan E Long FCA |
The Institute of Chartered Accountants in England and Wales |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
9 October 2023 |
Elgin Town Hall For The Community Ltd |
Statement of Financial Activities |
For The Year Ended 30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Hall hire | 200,879 | - | 200,879 | 123,418 |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Raising funds | 14,488 |
Charitable activities |
Hall hire | 207,073 | 44,359 | 251,432 | 201,885 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 202,569 |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
Investments | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 167,476 |
Restricted funds | 35,093 |
TOTAL FUNDS | 202,569 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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. |
Elgin Town Hall For The Community Ltd (Registered number: SC532377) |
Balance Sheet - continued |
30 June 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 |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements |
For The Year Ended 30 June 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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
2. | OTHER TRADING ACTIVITIES |
30.6.23 | 30.6.22 |
£ | £ |
Fundraising events |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.6.23 | 30.6.22 |
£ | £ |
Auditors' remuneration for non audit work | 2,183 | 1,620 |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
30.6.23 | 30.6.22 |
Full time | 4 | 4 |
Part time | 1 | 1 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Hall hire | 123,418 | - | 123,418 |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds | 14,488 | - | 14,488 |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
Charitable activities |
Hall hire | 151,313 | 50,572 | 201,885 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | 10,893 | (10,893 | ) | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 163,709 | - |
TOTAL FUNDS CARRIED FORWARD | 167,476 | 35,093 | 202,569 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
MARKET VALUE |
At 1 July 2022 and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 | 1 |
At 30 June 2022 | 1 |
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: 1 Trinity Place, Elgin, Moray, IV30 1UL |
Nature of business: Bar and catering |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade creditors |
Social security and other taxes |
Pension | 398 | - |
Other creditors |
Accrued expenses |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 167,476 | 54,125 | 221,601 |
Restricted funds |
Adam Family | 10,000 | (10,000 | ) | - |
HIE Funding | 19,093 | (19,093 | ) | - |
In Work Training/MERI Fund | 6,000 | (6,000 | ) | - |
(35,093 | ) |
TOTAL FUNDS | 19,032 | 221,601 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 270,961 | (216,836 | ) | 54,125 |
Restricted funds |
Adam Family | - | (10,000 | ) | (10,000 | ) |
HIE Funding | - | (19,093 | ) | (19,093 | ) |
In Work Training/MERI Fund | 9,266 | (15,266 | ) | (6,000 | ) |
( |
) | (35,093 | ) |
TOTAL FUNDS | ( |
) | 19,032 |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.7.21 | in funds | funds | 30.6.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 163,709 | (7,126 | ) | 10,893 | 167,476 |
Restricted funds |
Adam Family | - | 10,000 | - | 10,000 |
HIE Funding | - | 19,093 | - | 19,093 |
In Work Training/MERI Fund | - | 6,000 | - | 6,000 |
Adapt and Thirve | - | 10,893 | (10,893 | ) | - |
- | 45,986 | (10,893 | ) | 35,093 |
TOTAL FUNDS | 163,709 | 38,860 | - | 202,569 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 158,675 | (165,801 | ) | (7,126 | ) |
Restricted funds |
Adam Family | 22,500 | (12,500 | ) | 10,000 |
HIE Funding | 30,000 | (10,907 | ) | 19,093 |
In Work Training/MERI Fund | 14,072 | (8,072 | ) | 6,000 |
Adapt and Thirve | 29,986 | (19,093 | ) | 10,893 |
96,558 | (50,572 | ) | 45,986 |
TOTAL FUNDS | 255,233 | (216,373 | ) | 38,860 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.7.21 | in funds | funds | 30.6.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 163,709 | 46,999 | 10,893 | 221,601 |
Restricted funds |
Adapt and Thirve | - | 10,893 | (10,893 | ) | - |
TOTAL FUNDS | 163,709 | 57,892 | - | 221,601 |
Elgin Town Hall For The Community Ltd |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2023 |
11. | 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 | 429,636 | (382,637 | ) | 46,999 |
Restricted funds |
Adam Family | 22,500 | (22,500 | ) | - |
HIE Funding | 30,000 | (30,000 | ) | - |
In Work Training/MERI Fund | 23,338 | (23,338 | ) | - |
Adapt and Thirve | 29,986 | (19,093 | ) | 10,893 |
105,824 | (94,931 | ) | 10,893 |
TOTAL FUNDS | 535,460 | (477,568 | ) | 57,892 |
12. | RELATED PARTY DISCLOSURES |
As at 30 June 2022 the company was owed £8,553 by Elgin Town Hall Trading Ltd, the company's parent company, this was received in full in the year to 30 June 2023. During the year Elgin Town Hall Trading Ltd donated £67,483 which £51,364 had been received. |