Charity registration number SC049721 (Scotland)
Company registration number SC645958 (Scotland)
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M Burgess
A Blackadder
J Hunter
D Sandison
L Williamson
S Kay
Charity number (Scotland)
SC049721
Company number
SC645958
Independent examiner
Thyme Tax & Accountancy Limited
36 Angusfield Avenue
Aberdeen
Aberdeenshire
United Kingdom
AB15 6AQ
Bankers
Virgin Money
3 Broad Street
Kirkwall
KW15 1DH
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 15
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -

The Trustees present their annual report and financial statements for the year ended 30 November 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "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

To advance the wellbeing and development of the community of Scalloway.

To advance the enhancement and conservation of the local environment, culture, and heritage in Scalloway.

To advance the education of the public in matters relevant to the community of Scalloway

Public benefit

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

The highlight of the year has undoubtedly been the full opening of the Scalloway Caravan Park and the award of a 5-star facility rating by Visit Scotland – the only one in Shetland. Various delays outwith the charity’s control meant that the site only opened to the public in May 2023. It has proved popular with the public.

 

In 2018 the Scalloway Community Council began a process called ReCreate Scalloway to engage the public in bringing forward a vision for the future development of Scalloway. The Feasibility Study & Masterplan was handed over from Ironside Farrar in Dec ember 2022 and since then we have sought to engage with the key stakeholders, potential delivery partners, and crucially, look at how projects can attract funding.

Our focus has been on the number one priority, the Waterfront Phase 1, with discussions with key partners, principally SIC. We are now moving forward with commissioning of more detailed design work, including technical specification and consenting requirements, land ownership, detailed costings for funding bids and any tender preparations that can be progressed.

We have had some unfortunate difficulties with staffing our Development Worker position this year, as sadly our worker had to leave us due to health-related issues in early 2023. We had further difficulties in recruiting, however we successfully appointed 2 part time Development Workers in July 2023, who have since been able to pick up the core workstreams and move project plans forward. In the interim we were able to get a one day a week support from a further worker.

 

There has been evidence of ongoing need for support due to cost of living pressures in the community. We successfully bid for £3,000 from the Corra Fund for cost of living support. We have been rolling this out, in a similar fashion to last year, based on people being referred through a variety of service partners, such as health visitors.

 

We are currently pursuing an opportunity to buy premises that can be converted into a multi-functional space for Community groups and businesses, with office and meeting space and some hot desking capacity. We are keen to hear about interest and demand for this within the community. We hope to progress this project quickly and have something underway in 2024.

 

We also pursuing a number of other projects in relation to access improvements, footpaths, heritage, community transport, and energy

 

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Financial review
Reserves policy

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 operational expenditure. This has proved difficult because the majority of the charity’s income is from grants which are paid in arrears. The charity has been financed by an interest free loan from the Shetland Charitable Trust which bridges the funding gap. As all projects are fully funded only a small part of the charity expenditure needs to be met from unrestricted income.

 

The charity incurred a deficit in operations in previous years due to grant funding only being receivable after expenditure has been incurred. The completion of the Scalloway Caravan Park has released grant income to cover the previous deficit incurred during the development. A loan of £400,000 was obtained from the Shetland Charitable Trust to enable the charity to bridge the gap between expenditure being incurred and grant being received to enable it to pursue its objectives. The receipt of grant monies allowed us to repay £300,000 in the financial year and the balance of £100,000 was paid off in 2024.

 

In future income from the Scalloway Caravan Park will contribute to the running costs of SCDC.

 

Major risks

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is a company limited by guarantee.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

M Burgess
A Blackadder
J Hunter
W Mackenzie
(Resigned 10 May 2023)
D Sandison
L Williamson
S Kay

Membership

Membership is open to anyone aged 16 and over who is supportive of the aims of the organisation, regardless of where they are resident.

The Trustees report was approved by the Board of Trustees.

J Hunter
Trustee
16 August 2024
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
- 3 -

I report on the financial statements of the Charity for the year ended 30 November 2023, which are set out on pages 4 to 15.

Respective responsibilities of Trustees and examiner

The Charity’s Trustees, who are also the directors of Scalloway Community Development Company Ltd for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the 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 financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Martin R Watt FCCA
Thyme Tax & Accountancy Limited
36 Angusfield Avenue
Aberdeen
Aberdeenshire
AB15 6AQ
United Kingdom
Dated: 16 August 2024
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
22
138,952
138,974
30
627,680
627,710
Charitable activities
4
6
28,343
28,349
1,573
1,300
2,873
Total income
28
167,295
167,323
1,603
628,980
630,583
Charitable activities
5
1,446
50,674
52,120
4,678
19,415
24,093
Net income/(expenditure)
(1,418)
116,621
115,203
(3,075)
609,565
606,490
Transfers between funds
(11,776)
11,776
-
(38,945)
38,945
-
Net movement in funds
(13,194)
128,397
115,203
(42,020)
648,510
606,490
Reconciliation of funds:
Fund balances at 1 December 2022
(63,468)
650,947
587,479
(21,448)
2,437
(19,011)
Fund balances at 30 November 2023
(76,662)
779,344
702,682
(63,468)
650,947
587,479

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
739,670
640,865
Current assets
Debtors
11
1,848
31,684
Cash at bank and in hand
69,370
322,980
71,218
354,664
Creditors: amounts falling due within one year
13
8,206
7,034
Net current assets
63,012
347,630
Total assets less current liabilities
802,682
988,495
Creditors: amounts falling due after more than one year
14
(100,000)
(401,016)
Net assets
702,682
587,479
The funds of the Charity
Restricted income funds
15
779,344
650,947
Unrestricted funds
(76,662)
(63,468)
702,682
587,479

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 16 August 2024
J Hunter
Trustee
Company registration number SC645958 (Scotland)
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
1
Accounting policies
Charity information

Scalloway Community Development Company Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is .

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention,. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Asset under construction
Not depreciated until assets brought into use
Plant and equipment
25% SL

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 8 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 9 -
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
22
-
22
10
118
128

Grants

-
138,952
138,952
-
627,562
627,562
Membership fees
-
-
-
20
-
20
22
138,952
138,974
30
627,680
627,710
Grants receivable for core activities
Shetland Islands Council
-
-
-
-
483,558
483,558
Corra Foundation
-
3,150
3,150
-
-
-
Highlands & Islands Enterprise
-
96,682
96,682
-
133,754
133,754
Scottish Hydro Community Trust
-
-
-
-
3,250
3,250
Shetland Islands Council
-
36,120
36,120
-
1,000
1,000
Shetland Community Benefit
-
3,000
3,000
-
6,000
6,000
-
138,952
138,952
-
627,562
627,562
4
Charitable activities

 

 

2023
2022
£
£

Pitch hire

28,335
-
Other income
14
2,873
28,349
2,873
Analysis by fund
Unrestricted funds
6
1,573
Restricted funds
28,343
1,300
28,349
2,873
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 10 -
5
Expenditure on charitable activities
2023
2022
£
£
Direct costs
Staff costs
12,272
-
Depreciation and impairment
1,851
-

Project costs

16,274
5,142

Adverts

104
-

Development worker costs

-
14,000

Bank charges

261
21

Meeting hire

86
15

Subscriptions

397
90

Grant underspent returned

-
273

Utilities

6,779
-

Sundries

382
-

Booking charge

1,691
-

Insurance

1,096
-

Repairs

2,101
-

Wardens wages

4,908
-
48,202
19,541
Share of support and governance costs (see note 6)
Governance
3,918
4,552
52,120
24,093
Analysis by fund
Unrestricted funds
1,446
4,678
Restricted funds
50,674
19,415
52,120
24,093
6
Support costs allocated to activities
2023
2022
£
£
Governance costs
3,918
4,552
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
6
Support costs allocated to activities
(Continued)
- 11 -
2023
2022
Governance costs comprise:
£
£
Audit fees
950
4,000
Legal and professional
2,370
-
Accountancy
598
552
3,918
4,552
7
Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
8
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
1
-
0
Employment costs
2023
2022
£
£
Wages and salaries
12,272
-
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 12 -
10
Tangible fixed assets
Asset under construction
Plant and equipment
Total
£
£
£
Cost
At 1 December 2022
640,865
-
640,865
Additions
87,505
13,151
100,656
At 30 November 2023
728,370
13,151
741,521
Depreciation and impairment
Depreciation charged in the year
-
1,851
1,851
At 30 November 2023
-
1,851
1,851
Carrying amount
At 30 November 2023
728,370
11,300
739,670
At 30 November 2022
640,865
-
640,865
11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
23,812
Prepayments and accrued income
1,848
7,872
1,848
31,684
12
Loans and overdrafts
2023
2022
£
£
Other loans
100,000
401,016
Payable after one year
100,000
401,016
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 13 -
13
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
1,002
-
Trade creditors
781
2,482
Other creditors
167
-
Accruals and deferred income
6,256
4,552
8,206
7,034
14
Creditors: amounts falling due after more than one year
2023
2022
£
£
Borrowings
100,000
401,016
SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 14 -
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
1 December 2021
Incoming resources
Resources expended
Transfers
Balance at
1 December 2022
Incoming resources
Resources expended
Transfers
Balance at
30 November 2023
£
£
£
£
£
£
£
£
£
SCARF Fund
2,437
611,622
(3,692)
30,497
640,864
133,186
(22,128)
-
751,922
Supporting Communities Fund
-
-
(448)
448
-
-
-
-
-
ReCreate Scalloway Fund
-
10,240
(157)
-
10,083
27,462
(14,174)
-
23,371
Developworker Fund
-
6,000
(14,000)
8,000
-
497
(12,272)
11,776
1
Friendship Agreement Fund
-
1,118
(1,118)
-
-
-
-
-
-
Corra Fund
-
-
-
-
-
3,150
(2,100)
-
1,050
Shetland Community Benefit Fund
-
-
-
-
-
3,000
-
-
3,000
2,437
628,980
(19,415)
38,945
650,947
167,295
(50,674)
11,776
779,344

SCARF Fund - development of Scalloway caravan park

Supporting Community Fund - providing financial assistance to needy families in Scalloway

Recreate Scalloway Fund - promoting community dialogue on the role and future of the village, producing documents that help guide the future development of Scalloway

Town Centre Fund - improvements to the Scalloway environment

Development Fund - employment of development worker

Friendship Agreement Fund - event for visitors representing the Oygarden Kommune in west Norway

SCALLOWAY COMMUNITY DEVELOPMENT COMPANY LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 15 -
16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 December 2022
Incoming resources
Resources expended
Transfers
At 30 November 2023
£
£
£
£
£
General funds
(63,468)
28
(1,446)
(11,776)
(76,662)
Previous year:
At 1 December 2021
Incoming resources
Resources expended
Transfers
At 30 November 2022
£
£
£
£
£
General funds
(21,448)
1,603
(4,678)
(38,945)
(63,468)
17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 30 November 2023 are represented by:
Tangible assets
-
739,670
739,670
Current assets/(liabilities)
23,338
39,674
63,012
Long term liabilities
(100,000)
-
(100,000)
(76,662)
779,344
702,682
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 30 November 2022 are represented by:
Tangible assets
-
640,865
640,865
Current assets/(liabilities)
337,548
10,082
347,630
Long term liabilities
(401,016)
-
(401,016)
(63,468)
650,947
587,479
18
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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