REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 28 February 2023 |
for |
Leanchoil Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 28 February 2023 |
for |
Leanchoil Trust |
Leanchoil Trust |
Contents of the Financial Statements |
For The Year Ended 28 February 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 10 |
Leanchoil Trust (Registered number: SC654087) |
Report of the Trustees |
For The Year Ended 28 February 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 28 February 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 |
The charity's objects are to benefit the people living in the greater Forres area: |
To advance health and well-being through activities including mental health support, support for young people, veterans' activities, intergenerational activities, online health consultations, digital health, secondary care, complementary therapies and supported housing. |
To advance community development by acquiring, refurbishing, and sustainably maintaining the Leanchoil Hospital, grounds, and woodland as an asset for the community. |
To advance citizenship through the promotion of volunteering and working in partnership with the voluntary and public sectors in the delivery of health and well-being services. |
To advance the heritage of Leanchoil Hospital, by promoting its historic significance and educating the public about its heritage through interpretation and community engagement. |
But only to the extent that the above purposes are consistent with furthering the achievement of sustainable development. |
ACHIEVEMENT AND PERFORMANCE |
The trust continues to have positive discussions with NHS Grampian towards a community asset transfer. |
A community asset transfer was agreed in principle in December 2022. |
Discussions continue with housing associations to potentially create supported living accommodation and social housing at Leanchoil. |
Talks continue positively with a national veteran's charity regarding the possible setting up of a veteran's activity centre within the main hospital building, to be shared with the health and wellbeing centre. Discussions also continue with the Scottish Ambulance Service, who wish to maintain a service at Leanchoil. |
A partners group was set up in February 2023 to assist in progressing the project using a collaborative approach and agreeing heads of terms. |
The Our Leanchoil project to preserve the history of Leanchoil was completed with the recording of oral history through people's stories, and intergenerational storytelling with pupils from Forres Academy, culminating in a digital exhibition, video and the creation of an accessible digital archive. |
. |
Close links have been forged with Health & Social Care Moray, the Forres Health Centre and the locality planning group. It is anticipated that Leanchoil will meet some local needs in areas such as social prescribing and non-clinical activities. In addition, local third sector providers have been approached and are regularly updated. |
Meetings have taken place with Moray Council regarding the possibility of creating a STEM facility at Leanchoil, and we are discussing the potential for digital technology innovation. A local Forest School Nursery has expressed interest in setting up within the grounds. |
Various reports were commissioned including a tree survey and asbestos report, while Rural Housing Scotland and Social Value Lab carried out reports relating to local housing needs. Community Enterprise updated our Business plan and investigated the potential for health tourism accommodation. |
Leanchoil Trust (Registered number: SC654087) |
Report of the Trustees |
For The Year Ended 28 February 2023 |
FINANCIAL REVIEW |
Currently all income and expenditure of the charity relate to restricted funds and at the period end the charity had restricted funds of £72,632. |
Once the development is complete it will become the policy 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 considers that reserves at this level will ensure that, in the event of a significant drop in funding, 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. |
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. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Alan E Long FCA |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Approved by order of the board of trustees on |
Leanchoil Trust (Registered number: SC654087) |
Report of the Trustees |
For The Year Ended 28 February 2023 |
Independent Examiner's Report to the Trustees of |
Leanchoil Trust |
I report on the accounts for the year ended 28 February 2023 set out on pages five to ten. |
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 |
28 November 2023 |
Leanchoil Trust |
Statement of Financial Activities |
For The Year Ended 28 February 2023 |
28.2.23 | 28.2.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 53,202 |
Leanchoil Trust (Registered number: SC654087) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Restricted funds | 53,202 |
TOTAL FUNDS | 53,202 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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. |
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 |
Leanchoil Trust |
Notes to the Financial Statements |
For The Year Ended 28 February 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. |
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. |
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. |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the year ended 28 February 2022. |
Trustees' expenses |
During the year the charity reimbursed expenses totalling £1,569 (2022 - £276) to trustees. |
Leanchoil Trust |
Notes to the Financial Statements - continued |
For The Year Ended 28 February 2023 |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | - | 69,233 |
TOTAL FUNDS CARRIED FORWARD | - | 53,202 | 53,202 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade debtors |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.23 | 28.2.22 |
£ | £ |
Trade creditors |
Accrued expenses |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.3.22 | in funds | 28.2.23 |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 38,202 | (8,362 | ) | 29,840 |
Veterans' Support Fund | 15,000 | 4,050 | 19,050 |
HIE Funded Posts | - | 23,742 | 23,742 |
19,430 |
TOTAL FUNDS | 19,430 | 72,632 |
Leanchoil Trust |
Notes to the Financial Statements - continued |
For The Year Ended 28 February 2023 |
6. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 45,480 | (53,842 | ) | (8,362 | ) |
Veterans' Support Fund | 4,050 | - | 4,050 |
HIE Funded Posts | 42,965 | (19,223 | ) | 23,742 |
( |
) | 19,430 |
TOTAL FUNDS | ( |
) | 19,430 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.3.21 | in funds | 28.2.22 |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 58,233 | (20,031 | ) | 38,202 |
Veterans' Support Fund | 11,000 | 4,000 | 15,000 |
69,233 | (16,031 | ) | 53,202 |
TOTAL FUNDS | 69,233 | (16,031 | ) | 53,202 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 20,995 | (41,026 | ) | (20,031 | ) |
Veterans' Support Fund | 4,000 | - | 4,000 |
HIE Funded Posts | 5,250 | (5,250 | ) | - |
30,245 | (46,276 | ) | (16,031 | ) |
TOTAL FUNDS | 30,245 | (46,276 | ) | (16,031 | ) |
Leanchoil Trust |
Notes to the Financial Statements - continued |
For The Year Ended 28 February 2023 |
6. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.3.21 | in funds | 28.2.23 |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 58,233 | (28,393 | ) | 29,840 |
Veterans' Support Fund | 11,000 | 8,050 | 19,050 |
HIE Funded Posts | - | 23,742 | 23,742 |
69,233 | 3,399 | 72,632 |
TOTAL FUNDS | 69,233 | 3,399 | 72,632 |
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 |
£ | £ | £ |
Restricted funds |
Leanchoil Development Fund | 66,475 | (94,868 | ) | (28,393 | ) |
Veterans' Support Fund | 8,050 | - | 8,050 |
HIE Funded Posts | 48,215 | (24,473 | ) | 23,742 |
122,740 | (119,341 | ) | 3,399 |
TOTAL FUNDS | 122,740 | (119,341 | ) | 3,399 |
7. | RELATED PARTY DISCLOSURES |