REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Helmsdale & District Development Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Helmsdale & District Development Trust |
Helmsdale & District Development Trust |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Report of the Trustees | 1 | to | 6 |
Independent Examiner's Report | 7 |
Statement of Financial Activities | 8 |
Balance Sheet | 9 | to | 10 |
Notes to the Financial Statements | 11 | to | 18 |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 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 December 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). |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The company has been formed to: |
1. Provide within Helmsdale and District recreational facilities, or organise recreational activities, with the object of improving the conditions of life for the persons for whom the facilities or activities are primarily intended. |
2. Advance education and in particular promote opportunities for learning for the benefit of the general public. |
3. Advance the arts and/or culture. |
4. Advance environmental protection and improvement in Helmsdale and District through the provision, maintenance and/or improvement of public open space and other public amenities and other environmental and regeneration projects (subject to appropriate safeguards to ensure that the public benefits so arising clearly outweigh any private benefit thereby conferred by private landowners). |
5. Provide or assist in the provision of housing for people in necessitous circumstances within Helmsdale and District. |
6. Prevent or relieve poverty particularly among the residents of Helmsdale and District. |
7. To relieve those in need of employment, particularly among the residents of Helmsdale and District, for the public benefit in such ways as may be thought fit, including assistance to find employment. |
8. Relieve those in need by promoting training, particularly among residents of Helmsdale and District, and with particular reference to skills which will assist the participants in obtaining paid employment. |
9. Advance community development through the promotion of trade and industry within Helmsdale and District for the benefit of the general public. |
10. Help young people, particularly those resident in Helmsdale and District, to develop their physical, mental, and spiritual capacities, such that they may grow to full maturity as individuals and as members of society. |
11. To advance heritage and/or preserve, for the benefit of the general public., the historical, architectural and constructional heritage that may exist in and around the Helmsdale and District in buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest. |
12. To advance the health of the residents of Helmsdale & District, and to assist in the relief of ill health and the provision of health education for such residents. |
13. To relieve the needs of people (and particularly those resident in the Helmsdale & District who suffer from mental and/or physical disability, illness or impairment or have particular needs by reason of old age or current or past drug, solvent and/or alcohol abuse, and their carers and families. |
14. To encourage, stimulate and support volunteering principally in Helmsdale and District. |
15.To promote the rehabilitation of offenders and ex-offenders by provision of education and training, the assistance in finding work and the promotion or support of any project or scheme directed towards the prevention of crime or delinquency. |
16. To advance education through |
(i) The provision and supervision of learning-orientated activities for school and pre-school children. |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
(ii) The provision of care, guidance, instruction, activities and support directed towards addressing the special educational needs of school and pre-school children who come from a single parent family or other home environment where there are necessitous circumstances and/or to relieve poverty among the residents of the Helmsdale and District, in particular by releasing poor individuals (whether parents or guardians) having the care of school and/or pre-school children to attend training courses and programmes which are directed towards the acquisition of skills which will assist such individuals in obtaining employment or by allowing poor individuals (whether parents or guardians) having the care of school and/or pre-school children to maintain themselves in paid employment. |
17. To advance citizenship and/or community development (including the promotion of civic responsibility and the promotion of the voluntary sector and/or the effectiveness or efficiency of charities). |
18 To promote, establish, operate and/or support other similar schemes and projects of a charitable nature for the benefit of the community within Helmsdale and District. |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Helmsdale & District Development Trust has been operational for 11 Years. During this time, the Trust has been involved with a diverse range of projects, which has presented it with an equally diverse range of challenges, and opportunities. |
The steadfast dedication of the volunteer Board of Directors has enabled the Trust to continue achieving its objectives for the community this year, although it acknowledges that practical realisation of all of this would have been impossible without the pertinacity and expertise of its Local Development Officer, Mary Stewart. |
This year has seen progress, change and some frustration in equal measure. |
Couper's Yard - This continued to be delayed by SEPA, despite the Trust's measures to mitigate the objections raised, until it was clear that the plan to site parking for Campervans was no longer viable. The Trust is now looking for other options for development of this site. |
Housing Plots - Following the transfer of the debt from Highland Housing Alliance to The Highland Council, and in spite of interest from potential purchasers, there is as yet no movement in selling any of the plots. |
Kitchen Garden - This continued with one gardener and an assistant through the last summer season. Connection to its own water supply was a step forward, removing reliance upon the generosity of the School for this important resource. Income from the weekly stall, deliveries and direct sales totalled £2,785 for the year. Notwithstanding, as funding for the gardener from the Princes Countryside Fund was coming to an end, the Trust was obliged to review the operational model of the garden, with a view to encouraging a community group to take control. The Trust accordingly invited tenders for this purpose, and as a result, the Garden has been leased to local couple Hannah and Andrew Fairley, who are in the process of re-structuring the operation, with the intention to re-open to the community and reinstate the weekly sales stall. |
E-Bikes - The Trust continues to make its fleet of e-bikes available for hire, and hopes to work towards sourcing an effective storage and hire solution for them. |
Public Toilets - This has been proved a complex project, which has thrown up a range of unexpected challenges. All, pertaining to the refurbishment of the facility to the highest standards, and its public opening on Monday 10 June, have been skillfully managed on behalf of the Trust by LDO Mary Stewart. Going forward, management of the toilets presents a different range of challenges, but the Trust is proud of having reinstated this facility for the community. |
Multi-Use Games Area (MUGA) - This major project has proceeded with its own range of challenges and minor setbacks, to the point where it is now up and running, and will be officially opened on Friday 28 June, in a public evening event where the special guests will be Don Cowie and John Robertson. |
Funding - The Trust gratefully acknowledges that neither of the above major capital projects, nor any other would have been possible without the generous assistance of : |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
The Jordan Foundation, The Rural Tourism & Infrastructure Fund, The Scottish Government's Community and Renewables Energy Scheme (CARES), Sports Scotland, SSE Beatrice and various Gordonbush Wind Farm funds, Coastal Communities, Caithness & North Sutherland Fund, Robertson Trust, Local Youth Club, Community Regeneration Fund, Albyn Housing Fund, Helmsdale & District Community Council, Helmsdale Station, Rotary Club and Highlands & Islands Enterprise. |
The Trust now looks forward to investigating future projects, as identified in its recent community consultation, and finally wishes to thank, as ever, its primary objective of the Community of Helmsdale & District. |
FINANCIAL REVIEW |
Financial position |
At the end of the year under review the total reserves stood at £1,006,358, of which £9,600 were unrestricted. There were cash reserves of £140,929 of which £10,276 were unrestricted. |
Reserves policy |
It is the view of the directors that the reserves are adequate for the company to continue the current activities in the event of a significant decrease in income. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The governing documents of the charity are the Memorandum and Articles of Association, incorporated on 28 March 2012. The company obtained charitable status on 12 April 2012. |
Helmsdale & District Development Trust is a charitable company limited by guarantee of £1 per member, and has no share capital. Permission has been obtained from the Registrar of Companies to omit the word "Limited" from the company's name. |
Directors |
The directors who served during the period are listed on page 6. One third of the directors retire at the Annual General Meeting, and, being eligible, can offer themselves for re-election. |
The company is limited by guarantee, and therefore no director has any financial interest in the company. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Helmsdale & District Development Trust (Registered number: SC420622) |
Report of the Trustees |
for the Year Ended 31 December 2023 |
Trustees |
Company Secretary |
Independent Examiner |
Marcus D. MacIver CA |
Mackay & Co CA |
Unit 8 |
Golspie Business Park |
Golspie |
Sutherland |
KW10 6UB |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Helmsdale & District Development Trust |
I report on the accounts for the year ended 31 December 2023 set out on pages eight to eighteen. |
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. |
Marcus D. MacIver CA |
The Institute of Chartered Accountants of Scotland |
Mackay & Co CA |
Unit 8 |
Golspie Business Park |
Golspie |
Sutherland |
KW10 6UB |
23 July 2024 |
Helmsdale & District Development Trust |
Statement of Financial Activities |
for the Year Ended 31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 734,873 |
Helmsdale & District Development Trust (Registered number: SC420622) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 8,154 |
Restricted funds | 726,719 |
TOTAL FUNDS | 734,873 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. |
Helmsdale & District Development Trust (Registered number: SC420622) |
Balance Sheet - continued |
31 December 2023 |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Helmsdale & District Development Trust |
Notes to the Financial Statements |
for the Year Ended 31 December 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 | - |
Computer equipment | - |
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. |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | INVESTMENT INCOME |
31.12.23 | 31.12.22 |
£ | £ |
Housing rent |
Housing water adoption | - | 1,316 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.12.23 | 31.12.22 |
Local Development Officer | 1 | 1 |
Helmsdale Kitchen Gardeners | 2 | 2 |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | fund | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | ( |
) |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
Transfers between funds | (11,000 | ) | 11,000 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2,209 | 445,962 |
TOTAL FUNDS CARRIED FORWARD |
8,154 |
726,719 |
734,873 |
7. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | TANGIBLE FIXED ASSETS - continued |
The land and buildings owned by the Trust have been valued at £90,000 for three building plots and the four homes have been valued at £360,000. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Prepaid MUGA |
Prepaid Toilets | 120,949 | - |
The construction of the multi use games area has commenced with costs to date of £472,877 and professional fees of £6,000 being prepaid until completion, expected date of summer 2024. |
The improvements to the public toilets are in progress also with acquisition of the land and legal costs of £20,708, construction cost of £98,834 and £1,409 professional fees being prepaid until completion, expected date also summer of 2024. |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other loans (see note 11) |
Other creditors |
Accrued expenses |
The houses are being used as security for the Triodos loan. |
The building plots are being used as security for the interim loan from Highland Council. |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other loans (see note 11) | 134,444 |
11. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year on demand: |
Quaker Housing Trust Loan | 1,000 | 1,000 |
Triodos Loan | 3,579 | 3,579 |
Highland Housing Alliance Loan | 107,750 | 107,750 |
Amounts falling between one and two years: |
Quaker Housing Trust Loan | 1,000 | 1,000 |
Triodos Bank Loan | 3,793 | 3,793 |
Amounts falling due between two and five years: |
Quaker Housing Trust Loan | 3,000 | 3,000 |
Triodos Bank Loan | 12,791 | 12,791 |
Amounts falling due in more than five years: |
Repayable by instalments: |
Quaker Housing Trust Loan | 5,000 | 6,000 |
Triodos Bank Loan | 103,343 | 107,860 |
108,343 | 113,860 |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 8,154 | 1,446 | 9,600 |
Restricted funds |
Restricted | 726,719 | 270,039 | 996,758 |
TOTAL FUNDS | 271,485 | 1,006,358 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,370 | (5,924 | ) | 1,446 |
Restricted funds |
Restricted | 330,136 | (60,097 | ) | 270,039 |
TOTAL FUNDS | ( |
) | 271,485 |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 2,209 | 16,945 | (11,000 | ) | 8,154 |
Restricted funds |
Restricted | 445,962 | 269,757 | 11,000 | 726,719 |
TOTAL FUNDS | 448,171 | 286,702 | - | 734,873 |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
12. | 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 | 20,983 | (4,038 | ) | 16,945 |
Restricted funds |
Restricted | 332,269 | (62,512 | ) | 269,757 |
TOTAL FUNDS | 353,252 | (66,550 | ) | 286,702 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 2,209 | 18,391 | (11,000 | ) | 9,600 |
Restricted funds |
Restricted | 445,962 | 539,796 | 11,000 | 996,758 |
TOTAL FUNDS | 448,171 | 558,187 | - | 1,006,358 |
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 | 28,353 | (9,962 | ) | 18,391 |
Restricted funds |
Restricted | 662,405 | (122,609 | ) | 539,796 |
TOTAL FUNDS | 690,758 | (132,571 | ) | 558,187 |
Helmsdale & District Development Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
13. | RELATED PARTY DISCLOSURES |
14. | DETAILED LISTING OF GRANTS RECEIVED |
Grant | 2023 | 2022 |
Albyn Housing | 500 | - |
Rural Tourism & Infrastructure Fund | 127,618 | - |
Caithness & North Sutherland Fund | 20,000 | - |
Highlands & Islands Enterprise | 13,822 | 8,516 |
The Princes Countryside Trust | 20,150 | - |
SSE Beatrice Fund - Kitchen Garden | - | 20,000 |
SSE Gordonbush Ext Fund | 64,679 | - |
Jordan Foundation | - | 271,500 |
Helmsdale Community Council | 1,839 | - |
Robertson Trust | - | 15,000 |
North Highland Initiative | - | 1,505 |
Sports Scotland | 68,394 | 11,606 |
Lottery | - | 3,346 |
Total | 317,002 | 331,473 |