IRIS Accounts Productionv23.4.0.336OtherCompany accountsTruefalsePounds1.12.2230.11.2330.11.23FYFRS 102Independent examinerLarge and medium-sized companies regime for accountsFullCharities SORPtruetruetruetruefalsetruefalsefalse00 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2757952022-11-30SC2757952023-11-30SC2757952022-12-012023-11-30SC2757952021-11-30SC2757952021-12-012022-11-30SC2757952022-11-30SC275795ns0:CharitableCompanyLimitedByGuarantee2022-12-012023-11-30SC275795ns15:PoundSterling2022-12-012023-11-30SC275795ns11:FRS1022022-12-012023-11-30SC275795ns11:IndependentExaminationCharity2022-12-012023-11-30SC275795ns11:LargeMedium-sizedCompaniesRegimeForAccounts2022-12-012023-11-30SC275795ns11:FullAccounts2022-12-012023-11-30SC275795ns11:CharitiesSORP2022-12-012023-11-30SC275795ns16:EnglandWales2022-12-012023-11-30SC275795ns11:RegisteredOffice2022-12-012023-11-30SC275795ns0:Trustee12022-12-012023-11-30SC275795ns0:Trustee22022-12-012023-11-30SC275795ns0:Trustee32022-12-012023-11-30SC275795ns0:Trustee42022-12-012023-11-30SC275795ns0:Trustee52022-12-012023-11-30SC275795ns0:Trustee62022-12-012023-11-30SC275795ns0:Trustee72022-12-012023-11-30SC275795ns0:Trustee82022-12-012023-11-30SC275795ns0:Trustee92022-12-012023-11-30SC275795ns0:Trustee102022-12-012023-11-30SC275795ns0:Trustee112022-12-012023-11-30SC275795ns11:CompanySecretary12022-12-012023-11-30SC275795ns0:TotalUnrestrictedFunds2022-12-012023-11-30SC275795ns0:TotalRestrictedIncomeFunds2022-12-012023-11-30SC275795ns11:MainIndustrySectorHeading2022-12-012023-11-30SC275795ns0:TotalUnrestrictedFunds2022-11-30SC275795ns0:TotalRestrictedIncomeFunds2022-11-30SC275795ns0:TotalUnrestrictedFunds2023-11-30SC275795ns0:TotalRestrictedIncomeFunds2023-11-30SC275795ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-11-30SC275795ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-11-30SC275795ns10:WithinOneYear2023-11-30SC275795ns10:WithinOneYear2022-11-30SC27579522022-12-012023-11-30SC27579532022-12-012023-11-30SC27579512022-12-012023-11-30SC27579512021-12-012022-11-30SC275795ns10:OwnedAssets2022-12-012023-11-30SC275795ns10:OwnedAssets2021-12-012022-11-30SC275795ns0:TotalUnrestrictedFunds2021-12-012022-11-30SC275795ns0:TotalRestrictedIncomeFunds2021-12-012022-11-30SC275795ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-11-30SC275795ns10:PlantMachinery2022-11-30SC275795ns10:MotorVehicles2022-11-30SC275795ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-12-012023-11-30SC275795ns10:PlantMachinery2022-12-012023-11-30SC275795ns10:MotorVehicles2022-12-012023-11-30SC275795ns10:LandBuildingsns10:OwnedOrFreeholdAssets2023-11-30SC275795ns10:PlantMachinery2023-11-30SC275795ns10:MotorVehicles2023-11-30SC275795ns10:LandBuildingsns10:OwnedOrFreeholdAssets2022-11-30SC275795ns10:PlantMachinery2022-11-30SC275795ns10:MotorVehicles2022-11-30SC275795ns10:BetweenOneFiveYears2023-11-30SC275795ns10:BetweenOneFiveYears2022-11-30SC275795ns10:AllPeriods2023-11-30SC275795ns10:AllPeriods2022-11-30

REGISTERED COMPANY NUMBER: SC275795 (Scotland)

REGISTERED CHARITY NUMBER: SC036111















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR


KIRKCUDBRIGHT SUMMER FESTIVITIES



KIRKCUDBRIGHT SUMMER FESTIVITIES



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 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


14


KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 NOVEMBER 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 November 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 objective and principal activity of the charitable company is to advance the education of the public in the Arts, in particular by the provision of annual events including music, dance, arts and crafts, known as Kirkcudbright Summer Festivities, for the benefit of the community.

Grantmaking

Grants are made in accordance with charity law, our constitution and the wishes and directions of
donors.

Volunteers

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

ACHIEVEMENT AND PERFORMANCE

Overall 2023 proved to be a successful year with another year packed with great events.

The regular calendar of events had an addition in the form of the King's Coronation on 6th May, which was an opportunity for the community to come together and many brought picnics to the Moat Brae and enjoyed food, drink, entertainment and a great community atmosphere.

Another new event for the Festivities this year was the addition of the Half Marathon; and it's amalgamation with the Buckland Burn Up. The event was a success and has been added to the calendar for 2024.

Unfortunately the Country Fair was unable to go ahead this year due to high winds, which was disappointing for all involved, but many of the acts booked have already confirmed for 2024, which will take place back in its home at The Carse for 2024, having temporarily moved over the Tongland Bridge to Langbarns Farm.

All the events throughout the year have been extremely successful and, with so much positive feedback from visitors and the community. The Economic Impact Study which took place in early 2023, was able to provide feedback from attendees of events and the local business community, which supports the positive impact that the Festivities have on the town, its community and its economy.

The success of the events this year is down to the hard work of the convenors and volunteers who have dedicated thousands of hours this year. Avril and her team in the shop are absolutely critical to the success of Festivities and their hard work and commit allow us to continue to offer the community a range of events. This year, as always, they have exceeded expectations and continue to deliver incredible sales week on week. They also held a successful Fashion Show this year; hopefully the first of many.

2024 promises to be another year of high quality events and working with the other organisations in the town, we hope to create a town-wide drive for volunteers which will allow us to sustain these fantastic events for many years to come.

Heartfelt thanks go to all of the volunteers that are involved with the Festivities; whether a regular, or someone that comes to assist at a particular event, your time and effort make it possible for the Festivities to confidently go into our 53rd year with another great calendar of events.


KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 NOVEMBER 2023



FINANCIAL REVIEW

Financial Review

The company's turnover for the year was £138,981. The main source of funding was from charity shop sales (£48,631), grants (£21,885) and Donations (£24,139). During the year the company spent £123,706 on our activities, £5,744 in shop running costs and £680 on governance and administration. Our surplus for the year is £8,851 and we have £151,713 in reserve funding, of which £4,388  is restricted.


Reserves policy

The bank balances represent the unrestricted funds arising from successful operating results. It has been a long term aim of previous festivities organising groups that there should be sufficient unrestricted funds in the bank to enable full arrangements to be made for the next year's festivities before any income generating work is undertaken. Thanks in particular to the income from our charity shop this level of reserves has been maintained and will allow us to continue activities at our current level without the need for additional core funding in the form of grants.

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.


The company was established under a Memorandum of Association that 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 the members are required to contribute an amount not exceeding £1 each.


Recruitment and appointment of new Directors

Under the company's Articles there is a maximum of twenty places on the Board of Directors. The
directors retire at each Annual General Meeting but are eligible for re-election. Those directors who
served the company during the year are as follows:

Avive Asbridge
Rob Asbridge
John Blaikie
Robert McCune
Helen McQuater
Peter McRobert
Avril Swan
Colin Saul
Ian McIntyre
Andrew McKie
Malcolm Oldfield

The overall duty of each director is to ensure that the company operates in a manner that enables it to fulfil its objectives as efficiently as possible. In particular they should:

- ensure the company complies with its founding Articles, charity law and other relevant
- legislation.
- contribute actively to the board's role in giving clear strategic advice to the company.
- set overall policy, define goals, setting targets and evaluate performance.
- safeguard the good name and values of the company.
- ensure the company's financial stability.
- monitor performance.

Organisational structure

The Board meets regularly during the year. At these meetings the board agrees the strategy and areas of activity for the company, the delegation of tasks and responsibilities to sub-committees and individuals and the monitoring and approval of progress.


KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 NOVEMBER 2023



REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

SC275795 (Scotland)


Registered Charity number

SC036111


Registered office

53 St Mary Street

Kirkcudbright

Dumfries & Galloway

DG6 4DU


Trustees

J M Blaikie

Ms S A Asbridge

R Asbridge

R J McCune

Mrs H S C McQuater

P J McRobert

Mrs A Swan

C Saul

I McIntyre

M J Oldfield

M A Johnson


Company Secretary

Ms S A Asbridge


Independent Examiner

Bell Ogilvy

Chartered Accountants

36 King Street

Castle Douglas

Dumfries & Galloway

DG7 1AF


Approved by order of the board of trustees on 11 April 2024 and signed on its behalf by:






J M Blaikie - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

KIRKCUDBRIGHT SUMMER FESTIVITIES




I report on the accounts for the year ended 30 November 2023 set out on pages five to fourteen.


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.









Eilidh J Harman BA (Hons) CA

The Institute of Chartered Accountants of Scotland


Bell Ogilvy

Chartered Accountants

36 King Street

Castle Douglas

Dumfries & Galloway

DG7 1AF


11 April 2024



KIRKCUDBRIGHT SUMMER FESTIVITIES



STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 NOVEMBER 2023



2023


2022


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

2

30,799


15,225


46,024


26,939



Charitable activities

General fund

27,875


-


27,875


43,800



Other trading activities

3

65,067


-


65,067


60,206


Other income

15


-


15


5


Total

123,756


15,225


138,981


130,950



EXPENDITURE ON

Raising funds

5,744


-


5,744


5,121



Charitable activities

General Fund

108,816


15,570


124,386


141,624


Total

114,560


15,570


130,130


146,745



NET INCOME/(EXPENDITURE)

9,196


(345

)

8,851


(15,795

)



RECONCILIATION OF FUNDS

Total funds brought forward

138,129


4,733


142,862


158,657



TOTAL FUNDS CARRIED FORWARD

147,325


4,388


151,713


142,862



KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



BALANCE SHEET

30 NOVEMBER 2023



2023


2022


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


FIXED ASSETS


Tangible assets

7

75,070


-


75,070


75,680



CURRENT ASSETS


Debtors

8

2,160


-


2,160


2,886


Cash at bank

70,745


4,388


75,133


67,537


72,905


4,388


77,293


70,423



CREDITORS


Amounts falling due within one year

9

(650

)

-


(650

)

(3,241

)


NET CURRENT ASSETS

72,255


4,388


76,643


67,182



TOTAL ASSETS LESS CURRENT

LIABILITIES

147,325


4,388


151,713


142,862



NET ASSETS

147,325


4,388


151,713


142,862


FUNDS

11

Unrestricted funds

147,325


138,129


Restricted funds

4,388


4,733


TOTAL FUNDS

151,713


142,862



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.


KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



BALANCE SHEET - continued

30 NOVEMBER 2023




KIRKCUDBRIGHT SUMMER FESTIVITIES (REGISTERED NUMBER: SC275795)



BALANCE SHEET - continued

30 NOVEMBER 2023


These financial statements have been prepared in accordance with the specail provisions applicable to small charitable companies subject to the small companies regime.



The financial statements were approved by the Board of Trustees and authorised for issue on 11 April 2024  and were signed on its behalf by:






J M Blaikie - Trustee



KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 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.



Going concern


The financial statements have been prepared on a going concern basis. The executive committee has assessed the charity’s ability to continue as a going concern and has reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future.



INCOME


All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.  The following specific policies are applied to particular categories of income:



Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.



Donated services and facilities are included in the value of the charity where this can be quantified. The value of the services provided by volunteers has not been included in these accounts.  The value of the charity of the donated goods sold is recognised as income when sold.



Investment income is included when receivable.



Incoming resources from charitable trading activities are accounted for when earned.



Incoming resources from grants, where related to performance and specific deliverable, are accounted for as the charity earns the right to consideration by its performance.



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.



Land and Buildings - not applied
Motor Vehicles - 20% reducing balance
Plant & Machinery - 10% reducing balance




KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



1.

ACCOUNTING POLICIES - continued



TANGIBLE FIXED ASSETS

The charity does not capitalise expenditure on equipment purchased in the year, rather it is expensed against incoming resources in the year of expenditure, in the statement of financial activities. This policy is contrary to the Charities SORP (FRS 102), however it ensures that the charity's assets are not overstated in the financial statements, and aids the trustees in their review of the financial position of the charity periodically.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.


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.


FINANCIAL INSTRUMENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short term high liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the organisation does not have conditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are represented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of financial activities over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the organisation has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.



KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



2.

DONATIONS AND LEGACIES


2023


2022

£   

£   



Donations

24,139


2,359




Grants

21,885


24,580



46,024


26,939





Included within Donations is a Donation of £20,000 received from P Bayes Estate.



Grants received, included in the above, are as follows:



2023


2022

£   

£   



Dumfries and Galloway Council

9,885


22,580




D & G - Common Good Fund

-


2,000




Solway Firth Partnership

12,000


-



21,885


24,580




3.

OTHER TRADING ACTIVITIES


2023


2022

£   

£   



Small Events and Fundraising

9,625


5,975




Shop income

48,631


49,925




Sponsorships

524


(1,200

)



Insurance claims

1,311


-




Raffle Income

4,976


5,506



65,067


60,206




4.

NET INCOME/(EXPENDITURE)



Net income/(expenditure) is stated after charging/(crediting):




2023


2022

£   

£   



Depreciation - owned assets

610


384




5.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.



TRUSTEES' EXPENSES


There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.



KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



6.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Total


fund


funds


funds

£   

£   

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

10,789


16,150


26,939




Charitable activities


General fund

28,329


15,471


43,800




Other trading activities

61,612


(1,406

)

60,206



Other income

5


-


5



Total

100,735


30,215


130,950




EXPENDITURE ON


Raising funds

5,121


-


5,121




Charitable activities


General fund

109,280


32,344


141,624



Total

114,401


32,344


146,745




NET INCOME/(EXPENDITURE)

(13,666

)

(2,129

)

(15,795

)


Transfers between funds

(6,863

)

6,863


-



Net movement in funds

(20,529

)

4,734


(15,795

)



RECONCILIATION OF FUNDS


Total funds brought forward

158,657


-


158,657




TOTAL FUNDS CARRIED FORWARD

138,128


4,734


142,862



7.

TANGIBLE FIXED ASSETS


Freehold


Plant and


Motor



property


machinery


vehicles


Totals

£   

£   

£   

£   



COST


At 1 December 2022 and

30 November 2023

71,000


3,282


4,500


78,782




DEPRECIATION


At 1 December 2022

-


27


3,075


3,102




Charge for year

-


325


285


610




At 30 November 2023

-


352


3,360


3,712




NET BOOK VALUE


At 30 November 2023

71,000


2,930


1,140


75,070




At 30 November 2022

71,000


3,255


1,425


75,680





KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Trade debtors

175


500




Prepayments

662


2,386



837


2,886




Prepayments falling due after one year amount to £1,323.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Trade creditors

-


2,491




Accrued expenses

650


750



650


3,241




10.

LEASING AGREEMENTS



Minimum lease payments under non-cancellable operating leases fall due as follows:


2023

2022


£   

£   



Within one year

5,100


5,100




Between one and five years

4,250


9,350



9,350


14,450




11.

MOVEMENT IN FUNDS


Net




At


movement


At



1.12.22


in funds


30.11.23


£   

£   

£   



Unrestricted funds


General fund

138,129


9,196


147,325





Restricted funds


Festival of Light

3,772


616


4,388




Country Fair

961


(961

)

-



4,733


(345

)

4,388




TOTAL FUNDS

142,862


8,851


151,713





KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



11.

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

123,756


(114,560

)

9,196





Restricted funds


Festival of Light

15,225


(14,609

)

616




Country Fair

-


(961

)

(961

)


15,225


(15,570

)

(345

)



TOTAL FUNDS

138,981


(130,130

)

8,851






Comparatives for movement in funds



Net


Transfers




At


movement


between


At



1.12.21


in funds


funds


30.11.22


£   

£   

£   

£   



Unrestricted funds


General fund

158,657


(13,665

)

(6,863

)

138,129





Restricted funds


Festival of Light

-


3,772


-


3,772




Kirkcudbright Food Festival

-


(6,863

)

6,863


-




Country Fair

-


961


-


961



-


(2,130

)

6,863


4,733




TOTAL FUNDS

158,657


(15,795

)

-


142,862





Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

100,735


(114,400

)

(13,665

)




Restricted funds


Festival of Light

12,906


(9,134

)

3,772




Kirkcudbright Food Festival

2,498


(9,361

)

(6,863

)



Country Fair

14,811


(13,850

)

961



30,215


(32,345

)

(2,130

)



TOTAL FUNDS

130,950


(146,745

)

(15,795

)




KIRKCUDBRIGHT SUMMER FESTIVITIES



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023



11.

MOVEMENT IN FUNDS - continued




Unrestricted Funds





General Funds


-


funds that may be used at the discretion of the Trustees in furtherance

of the objects of the charity.




Restricted Funds





Festival of Light


-


funds received for the purpose of putting on the Festival of Light event.




Kirkcudbright Food

Festival


-


funds received for the purpose of putting on the Food Festival event.





Country Fair


-


funds received for the purpose of holding the Country Fair.






12.

RELATED PARTY DISCLOSURES


During the year £9,521 of rent, electricity, insurance and book-keeping costs were paid to Kirkcudbright Development Trust of which Mr R Asbridge & Mr J Blaikie are also Trustees.
A Trustee was paid £7,179 for secretarial services during the year.