REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 16 |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 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 July 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 |
Objectives and aims |
The objects of the charity are:- |
- to promote the benefit of the community resident from Galson to Ballantrushal, Isle of Lewis by associating with local authorities, voluntary organisations and residents in a common effort to further health, to advance education, to provide a meeting place and facilities for training and recreation, and social, moral and intellectual development, and to foster a community spirit for the achievement of these and other such objects; |
- to secure the establishment, maintenance and management of a Community Centre for activities promoted by the charity in furtherance of the above objects or any of them. |
Significant activities |
During the financial year, the Committee was able to complete some further improvements around the Centre - Inspiring Scotland providing £9,547 for paths, ramp, deer gates, additional walling and compost etc |
A further smaller grant of £1,000 towards the Garden project was also provided by Western Isles Development Trust |
Urras Oighreachd Ghabhsainn has continued to be very supportive of our aims - continuing to help with staffing for our Hebridean Community Garden project as well as supporting other activities, particularly via their successful, well-established Ploigh and Sunnd initiatives |
Normal out-door maintenance work by volunteers/committee continued during the year (painting, weeding etc). |
We have benefited from grants via Crown Estate Fund (administered through Comhairle nan Eilean Siar) - these funds have allowed us to employ a part-time member of staff to help boost the user numbers at the community centre and prepare to extend the community garden and to install external CCTV |
CnES have also generously supported us with a grant of £1,950 to run "warm hub" type activities during the 2023/24 winter period |
Importantly, and largely thanks to some of the funding support received, we were able to continue attracting visitors and users to a wide variety of activities (eg Burns Supper, charity lunches, ceilidh events, kids Christmas party and family celebrations all re-started in earnest; new activities included Thig a Chluich playgroup and an event in conjunction with An Lanntair as well as a high-profile 3-week exhibition about emigration from the Western Isles) |
The footfall through the Centre during the 9 months to 31st July 2023 has numbered around 1,250 plus a further 165 volunteer attendances |
We were pleased to welcome new volunteers to help us with our activities throughout the year |
The Committee is grateful to the contractors who so efficiently completed work for us during the year, also to all our funders and, of course, to our numerous volunteers |
The sale of the old hall in Borve saw us benefit financially from a share of the sale proceeds in the sum of £2,159, for which we are very grateful |
Energy costs - we consider ourselves fortunate that we were able to enter into a 3 year fixed rate contract with Scottish Power from 1st December 2021, which provides a relatively affordable tariff compared with the subsequent prices on offer to consumers/businesses |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2023 |
OBJECTIVES AND ACTIVITIES |
Volunteers |
The contribution of volunteers (including directors, members and individuals from the community) has been and continues to be, of immense benefit to the charity in establishing, maintaining and managing the community centre. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
As indicated above, within the Significant Activities section, bookings continued to build in a very positive way throughout the financial year ended 31st July 2023 and we feel comfortable in stating that the Centre is back to operating a full range of activities again, following the previous severe negative impacts of the coronavirus pandemic |
The Committee, staff and community volunteers help us to successfully deliver events and activities in our own right and we also provide hire and activity opportunities to a diverse range of other users from the local and wider community |
FINANCIAL REVIEW |
Principal funding sources |
Funds generated via Feed-In Tariff by our two wind turbines plus hire/events income, donations, non-specific grants and additional grant monies paid in advance and unspent at 31st July 2023 have contributed towards a positive cashflow during the financial year. |
Cashflow, excluding unspent grant monies already in our account, is estimated to have been moderately positive too, further assisted by a Performance Grant of £700 received from Comhairle nan Eilean Siar. |
Certain projects to enhance the Centre's facilities and surroundings have been carried out during the period but these have generally been fully funded from specific, non-recurring grant support, as detailed in the Significant Activities section. |
Cash reserves held are a source of comfort in terms of future expenditure, including as a contingency against repairs and maintenance, drop-off in hire and other income and/or against any further breakdowns with the wind turbines. Our reserves also provide a cushion against increasing general costs/inflation. |
Investment policy and objectives |
The charity's reserves are maintained in bank accounts as the current level of reserves are required to meet the organisation's short term operational requirements. |
Reserves policy |
The general fund represents the unrestricted funds from past operating results and the free reserves of the charity. The trustees consider that the level of free reserves at 31 July 2023, which equates to approximately 24 months operating expenditure, is sufficient to meet the charity's operational requirements given the ongoing rental and fundraising events income being received. The trustees ensure that the ongoing running costs are met by the projected recurring future income streams. |
During the year the charity's resources expended exceeded incoming resources resulting in net expenditure of £25,404 for the period (2022 - net expenditure of £14,699). This represents a decrease in unrestricted funds of £7,541 and a decrease of £17,863 in restricted funds. Unrestricted reserves has as a result decreased to £84,587. |
The deficit on restricted funds is mainly due to depreciation charged on the cost of the centre. This depreciation is met by capital grants received to fund the building of the centre which are held in restricted funds. |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2023 |
FUTURE PLANS |
The Committee hope to continue gradually increase and expand the types of activities and events undertaken - progress already made during the last year, with the benefit of having established a part-time development post |
Extending the community garden, installing CCTV and running an activity hub over the winter months is on the immediate plan |
We will also continue to look for opportunities to further improve the facilities and surroundings at the Centre, as and when funding permits |
In addition, we would like to see the extension of a development officer post beyond the term of the current funding (which ends on 31st October 2024) |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The organisation is a charitable company limited by guarantee, incorporated on 22 July 2002 and registered as a charity with effect from 22 July 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. |
The organisation is registered with the Scottish Charity Regulator and the Scottish Charity Number is SC028732. |
Recruitment and appointment of new trustees |
The directors of the company are also charity trustees for the purposes of charity law. |
Under the requirements of the Memorandum and Articles of Association the elected directors are appointed by all the members at the Annual General Meeting. One third of the elected directors must retire by rotation at each Annual General Meeting. Any nominated member may appoint one director. |
Organisational structure |
The board consists of voluntary directors who manage the affairs of the charity through regular board meetings where matters are discussed and agreed. The decisions taken by the board are implemented by the executive members which includes chair, vice-chair, secretary and treasurer. The charity has no employees. The charity appointed professional advisers to assist in the management of the construction programme for the community centre. |
Induction and training of new trustees |
The charity undertakes training for trustees to ensure awareness and understanding of:- |
- the responsibilities of directors; |
- the organisational structure of the charity; |
- the financial position of the charity; and |
- the future plans and objectives of the charity. |
Wider network |
The charity has established links with other organisations and agencies to foster the aims and objectives of the organisation. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JULY 2023 |
Trustees |
Company Secretary |
Independent Examiner |
CIB Services |
Chartered Accountants |
63 Kenneth Street |
Stornoway |
Isle of Lewis |
Western Isles |
HS1 2DS |
Bankers |
Stornoway |
Isle of Lewis |
HS1 2XH |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
I report on the accounts for the year ended 31 July 2023 set out on pages six 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. |
Calum Macdonald |
The Institute of Chartered Accountants of Scotland |
CIB Services |
Chartered Accountants |
63 Kenneth Street |
Stornoway |
Isle of Lewis |
Western Isles |
HS1 2DS |
13 November 2023 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 JULY 2023 |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 3 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 489,331 |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
BALANCE SHEET |
31 JULY 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Stocks | 9 |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 92,128 |
Restricted funds | 397,203 |
TOTAL FUNDS | 489,331 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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. |
THE CLAN MACQUARRIE COMMUNITY CENTRE (REGISTERED NUMBER: SC234402) |
BALANCE SHEET - continued |
31 JULY 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 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 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. |
The financial statements are prepared in sterling which is the functional currency of the charity. |
In light of the COVID-19 pandemic the directors consider that there are no material uncertainties about the company's ability to continue as a going concern. The directors also consider that there are no significant areas of judgements, estimates or key assumptions that affect items in the accounts. |
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. |
Charitable activities |
Charitable expenditure comprises those costs incurred by the charity in the delivery of its objects and activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. The allocation of direct and support costs are analysed in the notes to the financial statements. |
Governance costs |
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. |
Allocation and apportionment of costs |
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. estimated usage. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £100 are not capitalised. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. |
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. | DONATIONS AND LEGACIES |
31.7.23 | 31.7.22 |
£ | £ |
Donations |
3. | INCOME FROM CHARITABLE ACTIVITIES |
31.7.23 | 31.7.22 |
Activity | £ | £ |
Hall Hires | Community Centre | 3,876 | 2,398 |
Weddings & Functions | Community Centre | 6,093 | - |
Grants | Community Centre | 28,497 | 56,186 |
Grants received, included in the above, are as follows: |
31.7.23 | 31.7.22 |
£ | £ |
Comhairle nan Eilean Siar | 17,950 | 700 |
Highlands and Islands Enterprise | - | 625 |
Urras Oighreachd Ghabhsainn | - | 3,000 |
Western Isles Development Trust | 1,000 | - |
TESCO | - | 500 |
Finnis Scot Foundation | - | 3,000 |
Island Community Fund | - | 48,361 |
Inspiring Scotland | 9,547 | - |
28,497 | 56,186 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.7.23 | 31.7.22 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2023 nor for the year ended 31 July 2022. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.7.23 | 31.7.22 |
Charitable activities |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 102,920 | 401,110 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 92,128 | 397,203 | 489,331 |
8. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 August 2022 and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2022 and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
9. | STOCKS |
31.7.23 | 31.7.22 |
£ | £ |
Stocks |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Other debtors |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade creditors |
Accruals and deferred income |
12. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
31.7.23 | 31.7.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 58,275 | 353,952 | 412,227 | 451,198 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
84,587 | 379,340 | 463,927 | 489,331 |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 74,337 | (5,933 | ) | 68,404 |
Community Centre - Designated fund | 17,791 | (1,608 | ) | 16,183 |
(7,541 | ) |
Restricted funds |
Community Centre - Capital fund | 353,045 | (27,502 | ) | 325,543 |
Garden Project | 44,158 | (3,750 | ) | 40,408 |
Restricted CNES Funding | - | 13,389 | 13,389 |
(17,863 | ) |
TOTAL FUNDS | (25,404 | ) | 463,927 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
13. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 19,509 | (25,442 | ) | (5,933 | ) |
Community Centre - Designated fund | - | (1,608 | ) | (1,608 | ) |
( |
) | (7,541 | ) |
Restricted funds |
Community Centre - Capital fund | - | (27,502 | ) | (27,502 | ) |
Garden Project | 10,547 | (14,297 | ) | (3,750 | ) |
Restricted CNES Funding | 17,250 | (3,861 | ) | 13,389 |
( |
) | (17,863 | ) |
TOTAL FUNDS | ( |
) | (25,404 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.21 | in funds | 31.7.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 83,525 | (9,188 | ) | 74,337 |
Community Centre - Designated fund | 19,395 | (1,604 | ) | 17,791 |
102,920 | (10,792 | ) | 92,128 |
Restricted funds |
Community Centre - Capital fund | 384,093 | (31,048 | ) | 353,045 |
Garden Project | 17,017 | 27,141 | 44,158 |
401,110 | (3,907 | ) | 397,203 |
TOTAL FUNDS | 504,030 | (14,699 | ) | 489,331 |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
13. | 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 | 13,252 | (22,440 | ) | (9,188 | ) |
Community Centre - Designated fund | - | (1,604 | ) | (1,604 | ) |
13,252 | (24,044 | ) | (10,792 | ) |
Restricted funds |
Community Centre - Capital fund | - | (31,048 | ) | (31,048 | ) |
Garden Project | 51,862 | (24,721 | ) | 27,141 |
51,862 | (55,769 | ) | (3,907 | ) |
TOTAL FUNDS | 65,114 | (79,813 | ) | (14,699 | ) |
FUNDS |
General fund |
The general fund represents unrestricted funds which the trustees are free to use in accordance with the charitable objects. |
Community Centre - Designated fund |
This represents funds designated by the trustees to assist with the planning and design costs of the community centre and the purchase of fixtures, fittings and equipment. The funds are utilised to fund the future depreciation of the capital expenditure. |
Community Centre - Capital fund |
This represents the funds raised from various organisations to assist in the building of the community centre and the purchase of fixtures, fittings and equipment. The funds are utilised to fund the future depreciation of the capital expenditure. |
Garden Project - Restricted fund |
This represents the funds raised to establish a Community Garden at the Centre. |
Restricted CNES Funding - Restricted fund |
This represents the funds raised from Comhairle nan Eilean Siar to assist in funding the development officer post and projects within the community centre. |
THE CLAN MACQUARRIE COMMUNITY CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2023 |
14. | CONTINGENT LIABILITIES |
Big Lottery Fund have a standard security over the ground on which the centre is built. This security is taken by the Big Lottery Fund as part of the conditions of grant funding to allow clawback of grant should these conditions not be met. |
15. | RELATED PARTY DISCLOSURES |
16. | LIMITED BY GUARANTEE |
The company is limited by guarantee and has no share capital. The liability of each member in the event of the company being wound up is restricted to £1. |
17. | PERMANENT ENDOWMENTS |
The charity does not have any permanent endowments. |