REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
EADHA ENTERPRISES |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
EADHA ENTERPRISES |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
EADHA ENTERPRISES |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 16 |
EADHA ENTERPRISES (REGISTERED NUMBER: SC395120) |
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). |
Vision |
Eadha Enterprises' vision is to see a thriving Scotland with a rich natural environment with degraded lands restored to vibrant native forests providing not only a home to a rich biodiversity but also providing a range of materials and services to local communities, who sustainably and equitably manage these resources for their present and future needs. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Charitable Purposes: |
- | The advancement of education |
- | The advancement of citizenship or community development |
- | The advancement of environmental protection or improvement |
Charitable Objectives: |
- | Advance environmental protection and improvement through the propagation and planting of indigenous trees (particularly aspen) in a number of areas in Scotland |
- | To work towards the advancement of citizenship and community development through the creation of volunteering opportunities in a range of environmentally based activities from an initial base in Renfrewshire and North Ayrshire |
- | To work towards the relief of poverty through the development of community based initiatives to create green jobs and sustainable livelihoods in communities experiencing economic decline initially in Renfrewshire and North Ayrshire but eventually across Scotland |
- | To advance education through environmental awareness programs, training for green jobs and volunteering opportunities |
Aims and Objectives of Charity: |
To regenerate land and communities through engaging people in growing and planting aspen and other native trees leading to the conservation of aspen and other rare species. This will be enabled by: |
- | Promoting aspen and other rare native species as emerging species in the forestry sector which have value in a range of niche applications |
- | Facilitating communities to secure land for management or ownership |
- | Developing new community woodlands in particular on marginal sites to supply future resources, in partnership with communities, in particular those facing multiple deprivation |
- | Identifying opportunities for woodland based social enterprises including training and employment opportunities |
- | Delivering sustainable community regeneration to help release people from poverty |
- | Helping to bring about a new generation better informed about environmental and land issues |
EADHA ENTERPRISES (REGISTERED NUMBER: SC395120) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
OBJECTIVES AND ACTIVITIES |
Significant activities |
Contribute to the conservation of rare native tree species such as aspen and increase the area of woodland habitat and in particular the component of such species on marginal ground. Increase the numbers of rare native species such as aspen. Do this by developing a commercial supply chain for aspen which will subsidise our charitable aims. Act as a catalyst to develop local interest and capacity in the management and ownership of local land and resources. Engage and consult communities and work with partners to develop community tree nurseries and community woodlands. Develop opportunities for volunteering in a range of environmentally based activities. Develop other commercial activities including consultancy and other woodland related services. |
The activities will be delivered within communities and schools. The training will take place in school classrooms and out in the field. Eadha works in partnership with land owners, commercial organisations and third sector organisations. Eadha will procure land for nurseries, and assist other groups to procure land. The activities will be carried out by engaging with volunteers and the wider community to ensure participation. Eadha will create partnerships with community groups, schools and other organisations to develop partner tree nurseries and help them develop supply chains. |
ACHIEVEMENT AND PERFORMANCE |
Eadha has continued to grow its profile and scale up its work with a number of new projects launching over the last year. Its aspen work, which it is renowned for, has taken another step forward with an exciting new Triploid Aspen Strategy. A new funding stream from global rewilding charity Mossy Earth is enabling it to scale up its tree planting activities as well as supporting other conservation work through our Rewilding Woodlands project. A new project on Bute, The Quochag Wild Landscaping project is requiring the growing of a wild range of native wildflowers and trees expanding Eadha's breadth of work and expertise. It is also increasing its reach by working with new groups such as Groundforce, a group of ex-servicemen, at Eglinton Country Park. |
Eadha continues to benefit from the help of volunteers with new people continually being added to the pool. |
FINANCIAL REVIEW |
Principal funding sources |
Over the last year Eadha has been largely self-financing, obtaining the majority of its income from trading activities, namely the sale of products (trees) and services (consultancy, workshops etc.). Revenue generated by its trading subsidiary is transferred over to the charity under a gift aid arrangement. |
Reserves policy and going concern |
The Board of Trustees have reviewed the likely outcome for the next 12 months taking into account historic trends and performance since the balance sheet date. The trustees consider the charity to be a going concern as it is in a position to meet its financial liabilities as they fall due and will be able to do so for a period of at least 12 months from the date the financial statements are signed. |
The company's unrestricted reserves at the year end 31 March 2023 was £49,232 (2022 - £24,605). |
FUTURE PLANS |
Eadha hopes to capitalise on its growing profile and track record and capitalise on the growing demand for tree planting and rewilding. It plans to undertake a recruitment drive for new volunteers to help increase capacity as well as reaching out to new potential partners through the health and social care sector to help expand its reach and increase its social impacts. |
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. |
EADHA ENTERPRISES (REGISTERED NUMBER: SC395120) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2023 |
Eadha Enterprises was established as a company limited by guarantee on 9th March 2011 governed by its Memorandum and Articles of Association. It was recognised as a Scottish charity with effect from 19th April 2013. The trustees represent the directors of the original company and were appointed on the establishment of the charity. They are jointly responsible for running the charity and managing its assets. Appointment and removal is in accordance with the Memorandum and Articles of Association. |
Induction and training of new trustees |
An induction process and regular communications inform and update both new trustees and existing trustees in respect of the organisation's legal status, constitutional status and other general information, in addition to a review of the activities within the organisation. |
Key management remuneration |
Key management personnel who are responsible for managing and controlling the charity are the trustees. Details of payments made to trustees for their services are detailed in note 10 to the financial statements. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees review the risks affecting the charity at Board meetings and take appropriate action to mitigate any matters arising. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Approved by order of the Board of Trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
EADHA ENTERPRISES |
I report on the accounts for the year ended 31 March 2023 set out on pages five 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. |
Mark McRae CA |
The Institute of Chartered Accountants of Scotland |
12 February 2024 |
EADHA ENTERPRISES |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME FROM |
Donations and legacies | 3 |
Charitable activities | 6 |
Other trading activities | 4 |
Investment income | 5 |
Total |
EXPENDITURE ON |
Direct charitable costs | 7 |
NET INCOME |
Transfers between funds | 19 | 10,855 | (10,855 | ) | - | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 24,605 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
EADHA ENTERPRISES (REGISTERED NUMBER: SC395120) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
Investments | 14 |
CURRENT ASSETS |
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/(LIABILITIES) |
FUNDS | 19 |
Unrestricted funds | 24,605 |
TOTAL FUNDS | 24,605 |
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. |
EADHA ENTERPRISES (REGISTERED NUMBER: SC395120) |
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 |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Eadha Enterprises is a company limited by guarantee incorporated in Scotland. The registered office is Square House, Harvey Square, Lochwinnoch, Scotland, PA12 4HE. |
2. | 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', the Charities and Trustee Investment (Scotland) Act 2005 and the Companies Act 2006. |
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. |
The financial statements are presented in Sterling (£). |
Preparation of consolidated financial statements |
The financial statements contain information about Eadha Enterprises as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably. |
Income from the trading subsidiary in the form of gift aid, is recognised when the charity has entitlement to the funds, 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. |
Charitable activities |
Costs of charitable activities are incurred on the charity's operations, including supports costs and costs relating to the governance of the charity apportioned to charitable activities. |
Allocation and apportionment of costs |
Support costs are those functions that assist the work of the charity but do not undertake charitable activities. Support costs consist of governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities. |
Tangible fixed assets |
Tangible fixed assets are included at cost less accumulated depreciation and impairment losses. Generally assets costing less than £250 are not capitalised. |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Depreciation |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value each asset over its estimated useful life. |
Fixtures and equipment - 25% reducing balance |
Impairment of non-financial assets |
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of the value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds of the charity's funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. |
Restricted funds are funds which are restricted in how they may be used by the Trustees. |
Information and key sources of estimation uncertainty |
The Trustees make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from related parties and investments. |
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Judgements |
In the application of the charity's accounting policies, the Trustees consider on an annual basis the judgements that have been made when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The trustees consider there are no such significant judgements. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Donation from trading subsidiary |
Membership fees | 50 | 10 |
4. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Sale of goods |
5. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Interest receivable | 18 | - |
6. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Grants | Charitable activities | 66,347 | 10,556 |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Coalfields to Wildwoods | 12,370 | 8,610 |
Locherwood Rewilding Woodlands | 6,071 | 554 |
Wardlaw Wood Enhancement (Dalry Parish) | 3,930 | - |
Eglinton Plant Nursery | 5,005 | 138 |
Triploid Aspen Strategy | 10,000 | - |
Yearn Stane | 13,746 | 1,254 |
Native Reforestation | 15,225 | - |
66,347 | 10,556 |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 8) | Totals |
£ | £ | £ |
Charitable activities | 63,523 | 1,899 | 65,422 |
8. | SUPPORT COSTS |
Governance |
costs |
£ |
Charitable activities | 1,899 |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Charitable | Total |
activities | activities |
£ | £ |
Accountancy fees | 1,899 | 1,560 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
As permitted by the charity's Memorandum of Association, a trustee, received remuneration in his capacity as Chief Executive Officer of £31,247 (2022 - £30,265). There were no additional trustees' remuneration or other benefits for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
11. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
37,682 | 32,189 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Number of staff - management | 1 | 1 |
Number of other staff | 1 | 1 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Total |
EXPENDITURE ON |
Direct charitable costs |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,577 | 4,613 |
TOTAL FUNDS CARRIED FORWARD | 24,605 | - | 24,605 |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
13. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
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 |
14. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2022 and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 | 1 |
At 31 March 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: Square House, Harvey Square, Lochwinnoch, Renfrewshire, PA12 4HE. |
Nature of business: Environmental Protection |
% |
Class of share: | holding |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 17) |
Trade creditors |
Social security and other taxes |
Other creditors | 2,422 | 2,134 |
Accruals and deferred income |
17. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year on demand: |
Bank overdrafts |
18. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
£ | £ | £ | £ |
Fixed assets | 21 | - | 21 | 28 |
Investments |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
49,232 | - | 49,232 | 24,605 |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
19. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/4/22 | in funds | funds | 31/3/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 24,605 | 13,772 | 10,855 | 49,232 |
Restricted funds |
Restricted | - | 10,855 | (10,855 | ) | - |
TOTAL FUNDS | 24,627 | 49,232 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 23,702 | (9,930 | ) | 13,772 |
Restricted funds |
Restricted | 66,347 | (55,492 | ) | 10,855 |
TOTAL FUNDS | ( |
) | 24,627 |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/21 | in funds | 31/3/22 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,577 | 23,028 | 24,605 |
Restricted funds |
Restricted | 4,613 | (4,613 | ) | - |
TOTAL FUNDS | 6,190 | 18,415 | 24,605 |
EADHA ENTERPRISES |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
19. | 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 | 54,804 | (31,776 | ) | 23,028 |
Restricted funds |
Restricted | 10,556 | (15,169 | ) | (4,613 | ) |
TOTAL FUNDS | 65,360 | (46,945 | ) | 18,415 |
20. | EMPLOYEE BENEFIT OBLIGATIONS |
The charity operates a defined contribution pension scheme, the assets of which are held in a separate fund. The amount paid in the year and charged to the Statement of Financial Activities amounted to £nil (2022 - £938). At the year end, there were no outstanding or prepaid contributions. |
21. | RELATED PARTY DISCLOSURES |
During the year, the following transactions took place between the charity and its wholly owned subsidiary, Eadha Enterprises (Trading) Ltd: |
The transfer under gift aid of the trading profits of Eadha Enterprises (Trading) Ltd to the charity of £8,656 (2022 - £47,665). Included in debtors is an amount due from the subsidiary of £35,191 (2022 - £37,282). This loan is interest free, unsecured and no repayments terms have been established. |
As detailed in note 10, remuneration to key management personnel during the year amounted to £31,247 (2022 - £30,265). |
22. | ULTIMATE CONTROLLING PARTY |
The trustees are the ultimate controlling party. |
23. | COMPANY LIMITED BY GUARANTEE |
Eadha Enterprises is a company limited by guarantee in the terms of the Companies Act 2006. The liability of each member is limited to the sum of £1. In the event of the winding up or dissolution of the company, in terms of the Memorandum of Association, any surplus assets shall be transferred to some other charitable body or bodies having objects similar to the company. |