REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 August 2023 |
for |
Burghead Amenities Association |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 August 2023 |
for |
Burghead Amenities Association |
Burghead Amenities Association |
Contents of the Financial Statements |
For The Year Ended 31 August 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 | 13 |
Burghead Amenities Association (Registered number: SC222370) |
Report of the Trustees |
For The Year Ended 31 August 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 August 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 objects are to promote any charitable purposes for the benefit of the inhabitants of Burghead and its environs without the distinction of political, religious or other opinions or of race. To bring together in association the inhabitants, voluntary organisations and local authorities in a common effort to advance education and further the health of said inhabitants. To provide a meeting place and other facilities for the purpose of social welfare, recreation and education so that the conditions of life of said inhabitants may be improved. |
ACHIEVEMENT AND PERFORMANCE |
Burghead Amenities Association (BAA) was set up to improve amenities for the whole community of Burghead. Currently BAA's focus is on providing and developing Burghead Station Yard Community Garden and also supporting people in need through the Covid situation and now the emerging Cost of Living crisis. |
Our overall vision for Burghead Station Yard Community Garden is: |
-To make a wild life friendly garden for everyone to enjoy |
-Areas for families to use and for children to play in |
-Spaces where everyone who wants to can grow food. |
OUR ACTIVITIES |
Fundraising: |
We have received many generous local donations and also external grants, to develop the Community Garden. Our Lucky Squares draw is now in it's third year. |
Lucky Squares: |
Year 2 of the Lucky Squares ran from 1st April 2022 to 31st March 2023. |
We received £4,193 in ticket sales. 44% ( £1,300) was spend on prizes. There were no expenses, The balance, £2,893 (56%) was allocated to garden funds. |
Grants: |
We received the following grants to assist with the operation of the Blessing Boxes: |
The Robertson Trust - £500 received on 30th November 2022 |
Bank of Scotland Foundation - £1,500 received on 14th December 2022. |
The Community Garden : |
The vegetable plots are very well used. The benefits of the plots are in improving mental health, as well as food growing. Community plots have been dug and cultivated, and spare produce donated. This year, produce has again been available from the polytunnel and made available to the community, via an honesty box system for donations. |
This year we also held a Family Fun Day on 1st July 2023. This was to have been held in the garden, but due to inclement weather had to be moved into the Community Hall, where a five a side football tournament took place and was enjoyed by all that took part. |
The Blessing Boxes have continued to be well supported, both financially and by donations in kind, by the local community and continue to be well used. We aim to keep the Boxes stocked for as long as they are required, to assist people in coping with the higher power and food cost which are currently being incurred. We are registered with Moray Food Bank to operate as a "larder" organisation for them, and can also refer people to the Food Bank for food deliveries. |
Burghead Amenities Association (Registered number: SC222370) |
Report of the Trustees |
For The Year Ended 31 August 2023 |
FINANCIAL REVIEW |
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level sufficient to cover management, administration and support costs for the period of one year and to build these funds up to enable the charity to carry out capital projects. |
The level of funds held at the year end was £113,046 of which designated funds were £33,564 and unrestricted funds of £79,482. £98,311 of the total funds represent fixed assets and £14,735 represent net current assets. |
The level of restricted funds held at the year end was Nil (2022 - £1,632) |
It is 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 consider 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. This level of reserves has been maintained throughout the year. |
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate these. |
FUTURE PLANS |
Members of our community still require support from the Blessing Boxes . We plan to continue working with our partner organisations to support a local response as long as the required. We will continue to work on identifying funding to keep the Blessing Boxes going into the next year. However, if more external funding cannot be found, the shopping for the boxes will be limited. |
With regards to the Garden, we would like in the future to able to install an outdoor gym, to assist with the physical and mental health of our community. |
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 |
Independent Examiner |
Alan Long FCA |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Burghead Amenities Association (Registered number: SC222370) |
Report of the Trustees |
For The Year Ended 31 August 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Bankers |
Edinburgh |
EH11 3XP |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Burghead Amenities Association |
I report on the accounts for the year ended 31 August 2023 set out on pages five to thirteen. |
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 Long FCA |
The Institute of Chartered Accountants in England and Wales |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
29 March 2024 |
Burghead Amenities Association |
Statement of Financial Activities |
For The Year Ended 31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Raising funds |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 116,211 |
Burghead Amenities Association (Registered number: SC222370) |
Balance Sheet |
31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 8 |
Unrestricted funds | 79,913 |
Restricted funds | 36,298 |
TOTAL FUNDS | 116,211 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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. |
Burghead Amenities Association (Registered number: SC222370) |
Balance Sheet - continued |
31 August 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 |
Burghead Amenities Association |
Notes to the Financial Statements |
For The Year Ended 31 August 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. |
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 | - |
Plant and machinery | - |
Fixtures and fittings | - |
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. | OTHER TRADING ACTIVITIES |
31.8.23 | 31.8.22 |
£ | £ |
Fundraising events |
Vegetable plots and garden items |
Lucky squares | 2,893 | 3,259 |
Burghead Amenities Association |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2023 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.8.23 | 31.8.22 |
£ | £ |
Depreciation - owned assets |
Deficit on disposal of fixed assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
Trustees' expenses |
In 2023 reimbursement of expenses to trustees and related parties amounted to £146 (2022 - £235) |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Charitable activities |
Raising funds |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 74,714 | 36,689 |
TOTAL FUNDS CARRIED FORWARD | 79,913 | 36,298 | 116,211 |
Burghead Amenities Association |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2022 |
Disposals | ( |
) | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Trade creditors |
Accrued expenses |
8. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 79,913 | (431 | ) | 79,482 |
Restricted funds |
Arnold Clark Community Foundation Yr 2 | 1,632 | (1,632 | ) | - |
Designated fund | 34,666 | (1,102 | ) | 33,564 |
(2,734 | ) |
TOTAL FUNDS | (3,165 | ) | 113,046 |
Burghead Amenities Association |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2023 |
8. | 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 | 6,901 | (7,332 | ) | (431 | ) |
Restricted funds |
Arnold Clark Community Foundation Yr 2 | - | (1,632 | ) | (1,632 | ) |
The Robertson Trust | 500 | (500 | ) | - |
Designated fund | - | (1,102 | ) | (1,102 | ) |
Bank of Scotland | 1,500 | (1,500 | ) | - |
( |
) | (2,734 | ) |
TOTAL FUNDS | ( |
) | (3,165 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 74,714 | 5,199 | 79,913 |
Restricted funds |
Arnold Clark Community Foundation Yr 2 | - | 1,632 | 1,632 |
Corra Foundation | 872 | (872 | ) | - |
Designated fund | 35,817 | (1,151 | ) | 34,666 |
36,689 | (391 | ) | 36,298 |
TOTAL FUNDS | 111,403 | 4,808 | 116,211 |
Burghead Amenities Association |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2023 |
8. | 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 | 10,209 | (5,010 | ) | 5,199 |
Restricted funds |
Arnold Clark Community Foundation Yr 1 | 2,500 | (2,500 | ) | - |
Arnold Clark Community Foundation Yr 2 | 2,500 | (868 | ) | 1,632 |
Corra Foundation | - | (872 | ) | (872 | ) |
The Robertson Trust | 1,000 | (1,000 | ) | - |
Designated fund | - | (1,151 | ) | (1,151 | ) |
6,000 | (6,391 | ) | (391 | ) |
TOTAL FUNDS | 16,209 | (11,401 | ) | 4,808 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 74,714 | 4,768 | 79,482 |
Restricted funds |
Corra Foundation | 872 | (872 | ) | - |
Designated fund | 35,817 | (2,253 | ) | 33,564 |
36,689 | (3,125 | ) | 33,564 |
TOTAL FUNDS | 111,403 | 1,643 | 113,046 |
Burghead Amenities Association |
Notes to the Financial Statements - continued |
For The Year Ended 31 August 2023 |
8. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 17,110 | (12,342 | ) | 4,768 |
Restricted funds |
Arnold Clark Community Foundation Yr 1 | 2,500 | (2,500 | ) | - |
Arnold Clark Community Foundation Yr 2 | 2,500 | (2,500 | ) | - |
Corra Foundation | - | (872 | ) | (872 | ) |
The Robertson Trust | 1,500 | (1,500 | ) | - |
Designated fund | - | (2,253 | ) | (2,253 | ) |
Bank of Scotland | 1,500 | (1,500 | ) | - |
8,000 | (11,125 | ) | (3,125 | ) |
TOTAL FUNDS | 25,110 | (23,467 | ) | 1,643 |
9. | RELATED PARTY DISCLOSURES |