REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 March 2024 |
for |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 March 2024 |
for |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Contents of the Financial Statements |
For The Year Ended 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 14 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust (Registered number: SC222802) |
Report of the Trustees |
For The Year Ended 31 March 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 charity's objects are to conserve, protect, enhance and rehabilitate salmon, sea-trout and trout and other indigenous wildlife and to promote the ecological cycle within the Deveron catchment area and to raise people's awareness of conservation and protected areas by commissioning research and publishing the results for the public's benefit. The significant activities that contribute to the achievement of objectives for the year were as follows; conduct electro-fishing surveys of the River Deveron and its tributaries; operate smolt traps on the River Deveron and Blackwater; collect and analyse adult salmon data from the Deveron District; conduct a salmon smolt tracking project to determine the mortality rate in the river. |
Achievements and performance |
The incoming resources of the charity for the year amounted to £277,778. This includes donations and grants of £196,627 and income from charitable activities of £64,845. The expenditure incurred amounted to £276,800 which, together with a profit of £3,356 on revaluation of investments, gives rise to an overall surplus of £4,254. |
Funds are obtained from several sources such as donations, membership fees, grants, gin sales and contracts which allow priority projects to proceed. This year saw continued funding from the Scottish Initiative (Scottish Natural Heritage and Heritage Lottery Fund) for invasive species control. Funds were also secured from charitable activities such as collaborating with Atlantic Salmon Trust and The Missing Salmon Alliance on Project Deveron. Several fish/habitat surveys were again successfully undertaken on behalf of Scottish Government, renewable energy clients and neighbouring Fishery Boards. |
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 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust (Registered number: SC222802) |
Report of the Trustees |
For The Year Ended 31 March 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Company Secretary |
Independent Examiner |
Alan Long FCA |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Independent examiner's report to the trustees of The Deveron, Bogie and Isla Rivers Charitable Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report 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 |
5 July 2024 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Statement of Financial Activities |
For The Year Ended 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds | 4 |
Charitable activities |
Other | ( |
) | ( |
) |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME |
Transfers between funds | 13 | 311 | (311 | ) | - | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 326,843 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust (Registered number: SC222802) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 164,376 |
Restricted funds | 162,467 |
TOTAL FUNDS | 326,843 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Deveron, Bogie and Isla Rivers |
Charitable Trust (Registered number: SC222802) |
Balance Sheet - continued |
31 March 2024 |
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 Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements |
For The Year Ended 31 March 2024 |
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
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. |
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. |
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
2. | OTHER TRADING ACTIVITIES |
31.3.24 | 31.3.23 |
£ | £ |
Sponsorships | 2,800 | 4,780 |
Sales of merchandise and Deveron gin | 9,078 | 28,109 |
3. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
£ | £ |
Revaluation of investments | 4,428 | 3,637 |
4. | RAISING FUNDS |
Investment management costs |
31.3.24 | 31.3.23 |
£ | £ |
Impairment losses | - | 137 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
Surplus on disposal of fixed assets | ( |
) |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Other |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 163,086 | 155,088 |
TOTAL FUNDS CARRIED FORWARD | 164,376 | 162,467 | 326,843 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
8. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
9. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
MARKET VALUE |
At 1 April 2023 |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 | 162,550 |
At 31 March 2023 | 154,766 |
There were no investment assets outside the UK. |
Cost or valuation at 31 March 2024 is represented by: |
Unlisted |
investments |
£ |
Valuation in 2023 | 154,766 |
Valuation in 2024 | 7,784 |
162,550 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
10. | STOCKS |
31.3.24 | 31.3.23 |
£ | £ |
Stocks |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Pension control | - | 675 |
Accrued expenses |
13. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 164,239 | 3,738 | (21,324 | ) | 146,653 |
Designated fund | 137 | - | 21,635 | 21,772 |
3,738 |
Restricted funds |
Improvement Fund | 154,766 | 7,784 | - | 162,550 |
The Scottish Species Initiative Project | - | 311 | (311 | ) | - |
Open Rivers Programme | 7,701 | (7,579 | ) | - | 122 |
516 | ( |
) |
TOTAL FUNDS | 4,254 | 331,097 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
13. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 195,887 | (192,149 | ) | - | 3,738 |
Restricted funds |
Improvement Fund | 4,428 | - | 3,356 | 7,784 |
The Scottish Species Initiative Project | 69,919 | (69,608 | ) | - | 311 |
Open Rivers Programme | 7,544 | (15,123 | ) | - | (7,579 | ) |
( |
) | 516 |
TOTAL FUNDS | ( |
) | 4,254 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 163,086 | 1,153 | 164,239 |
Designated fund | - | 137 | 137 |
163,086 | 1,290 | 164,376 |
Restricted funds |
Improvement Fund | 155,088 | (322 | ) | 154,766 |
Open Rivers Programme | - | 7,701 | 7,701 |
155,088 | 7,379 | 162,467 |
TOTAL FUNDS | 318,174 | 8,669 | 326,843 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
13. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 170,995 | (169,842 | ) | - | 1,153 |
Designated fund | - | 137 | - | 137 |
170,995 | (169,705 | ) | - | 1,290 |
Restricted funds |
Improvement Fund | 3,637 | - | (3,959 | ) | (322 | ) |
The Scottish Species Initiative Project | 49,743 | (49,743 | ) | - | - |
Open Rivers Programme | 15,232 | (7,531 | ) | - | 7,701 |
68,612 | (57,274 | ) | (3,959 | ) | 7,379 |
TOTAL FUNDS | 239,607 | (226,979 | ) | (3,959 | ) | 8,669 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 163,086 | 4,891 | (21,324 | ) | 146,653 |
Designated fund | - | 137 | 21,635 | 21,772 |
163,086 | 5,028 | 311 | 168,425 |
Restricted funds |
Improvement Fund | 155,088 | 7,462 | - | 162,550 |
The Scottish Species Initiative Project | - | 311 | (311 | ) | - |
Open Rivers Programme | - | 122 | - | 122 |
155,088 | 7,895 | (311 | ) | 162,672 |
TOTAL FUNDS | 318,174 | 12,923 | - | 331,097 |
The Deveron, Bogie and Isla Rivers |
Charitable Trust |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
13. | 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 | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 366,882 | (361,991 | ) | - | 4,891 |
Designated fund | - | 137 | - | 137 |
366,882 | (361,854 | ) | - | 5,028 |
Restricted funds |
Improvement Fund | 8,065 | - | (603 | ) | 7,462 |
The Scottish Species Initiative Project | 119,662 | (119,351 | ) | - | 311 |
Open Rivers Programme | 22,776 | (22,654 | ) | - | 122 |
150,503 | (142,005 | ) | (603 | ) | 7,895 |
TOTAL FUNDS | 517,385 | (503,859 | ) | (603 | ) | 12,923 |
14. | RELATED PARTY DISCLOSURES |