IRIS Accounts Production v24.2.0.383 Other Company accounts True false Pounds 1.1.23 31.12.23 31.12.23 FY FRS 102 Audited Small companies regime for accounts Full Charities SORP true true false true true true false true false false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3693802022-12-31SC3693802023-12-31SC3693802023-01-012023-12-31SC3693802021-12-31SC3693802022-01-012022-12-31SC3693802022-12-31SC369380ns0:CharitableCompanyLimitedByGuarantee2023-01-012023-12-31SC369380ns15:PoundSterling2023-01-012023-12-31SC369380ns11:FRS1022023-01-012023-12-31SC369380ns11:Audited2023-01-012023-12-31SC369380ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC369380ns11:FullAccounts2023-01-012023-12-31SC369380ns11:CharitiesSORP2023-01-012023-12-31SC36938022023-01-012023-12-31SC369380ns16:EnglandWales2023-01-012023-12-31SC369380ns11:RegisteredOffice2023-01-012023-12-31SC369380ns0:Trustee22023-01-012023-12-31SC369380ns0:Trustee32023-01-012023-12-31SC369380ns0:Trustee42023-01-012023-12-31SC369380ns0:Trustee52023-01-012023-12-31SC369380ns0:Trustee62023-01-012023-12-31SC369380ns0:Trustee72023-01-012023-12-31SC369380ns0:Trustee82023-01-012023-12-31SC369380ns0:Trustee12023-01-012023-12-31SC369380ns0:Trustee92023-01-012023-12-31SC369380ns0:Trustee102023-01-012023-12-31SC369380ns0:Activity82023-01-012023-12-31SC369380ns0:Activity8ns0:TotalUnrestrictedFunds2023-01-012023-12-31SC369380ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC369380ns0:Activity82022-01-012022-12-31SC369380ns0:TotalUnrestrictedFunds2023-01-012023-12-31SC369380ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC369380ns0:Activity102023-01-012023-12-31SC369380ns0:TotalUnrestrictedFundsns0:Activity102023-01-012023-12-31SC369380ns0:Activity10ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC369380ns0:Activity102022-01-012022-12-31SC369380ns0:Activity122023-01-012023-12-31SC369380ns0:TotalUnrestrictedFundsns0:Activity122023-01-012023-12-31SC369380ns0:Activity12ns0:TotalRestrictedIncomeFunds2023-01-012023-12-31SC369380ns0:Activity122022-01-012022-12-31SC369380ns0:TotalUnrestrictedFunds2022-12-31SC369380ns0:TotalRestrictedIncomeFunds2022-12-31SC369380ns0:TotalUnrestrictedFunds2023-12-31SC369380ns0:TotalRestrictedIncomeFunds2023-12-31SC369380ns0:TotalUnrestrictedFundsns10:WithinOneYear2023-12-31SC369380ns0:TotalRestrictedIncomeFundsns10:WithinOneYear2023-12-31SC369380ns10:WithinOneYear2023-12-31SC369380ns10:WithinOneYear2022-12-31SC36938012023-01-012023-12-31SC36938022023-01-012023-12-31SC36938032023-01-012023-12-31SC369380ns0:Activity8ns0:TotalUnrestrictedFunds2022-01-012022-12-31SC369380ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC369380ns0:TotalUnrestrictedFunds2022-01-012022-12-31SC369380ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC369380ns0:TotalUnrestrictedFundsns0:Activity102022-01-012022-12-31SC369380ns0:Activity10ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC369380ns0:TotalUnrestrictedFundsns0:Activity122022-01-012022-12-31SC369380ns0:Activity12ns0:TotalRestrictedIncomeFunds2022-01-012022-12-31SC369380ns10:WithinOneYear2023-01-012023-12-31
REGISTERED COMPANY NUMBER: SC369380 (Scotland)
REGISTERED CHARITY NUMBER: SC43722














REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CARRICK FUTURES

CARRICK FUTURES

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Report of the Trustees 1 to 5

Report of the Independent Auditors 6 to 8

Statement of Financial Activities 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 20

CARRICK FUTURES (REGISTERED NUMBER: SC369380)

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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The company has been formed to benefit the community of Carrick and, in particular the communities of Ballantrae, Barr, Barrhill, Colmonell and Lendalfoot, Girvan, Pinwherry and Pinmore with the following objects:

1. To promote, for the public benefit, rural regeneration within the Community which shall include the promotion of trade and industry, for the benefit of the general public;

2. To advance environmental protection and/or improvement within the Community;

3. To provide recreational facilities and/or to organise recreational activities, within the Community, with such facilities/activities being available to members of the public at large with the object of improving their conditions of life;

4. To advance heritage through preserving, for the general public, the historical, architectural and constructional heritage that may exist in and around the Community in buildings of particular beauty or historical, architectural or constructional interest;

5. To prevent or relieve poverty among the residents of the Community.


CARRICK FUTURES (REGISTERED NUMBER: SC369380)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


ACHIEVEMENT AND PERFORMANCE
Charitable activities
Carrick Futures was registered as a company in November 2009 and also registered as a charity in 2013. Carrick Futures continues to provide much needed financial support in the South Carrick area. Our primary source of income continues to be provided by ScottishPower Renewables.

We continue to support a wide range of activities and initiatives providing community benefit. The Board has agreed four strategic aims, which it uses to prioritise proposed projects. These are:

- Improving access to services (in particular public transport)
- Enabling a diverse and sustainable population mix (services for young people and older people, but also activities that help create opportunities for families and working age people to live in the area).
- Improving equality of opportunity (including tackling poverty and disadvantage).
- Contributing to a climate smarter world with sustainability at its core.

Carrick Futures operates by paying donations to Foundation Scotland, who then pay grants to other organisations on their behalf. In 2023, a total of 25 grants were paid to organisations delivering activities in the fund area of benefit, with a total value of £207,619. Grants were made to a diverse range of community initiatives across South Carrick, with the largest award being £25,000 to contribute towards the salary of a full-time Place2Be counsellor at Girvan Academy for one year to enable the continuation of in-school counselling and mental health support services. Other awards included £8,750 to South Ayrshire Community Transport, supporting community transport in the area including the CB8 bus route and £12,500 to support the Stepping Stones for Families Carrick Money Advice Service.

The Fund also supports some more modest awards which make a positive difference to people's lives, including £4,500 to the Girvan Traditional Folk Festival to support this cultural community celebration, £4,400 to Harbour (Ayrshire) to fund the cost of transport, room hire and refreshment for a weekly support group for men in the Girvan area who are experiencing addiction and substance misuse issues and £1,266 to Barr Community SCIO for the printing costs of the Barrometer, a local newsletter that informs residents of local activities with the aim of increasing social inclusion and community cohesion.

We continued to distribute grants to the Community Councils of Ballantrae, Barrhill, Colmonell and Lendalfoot, Girvan and District and from which they can develop their own projects or make onward grants of up to £500 to groups within their communities.

Each year, the Trustees of Carrick Futures also approve a contribution to the Carrick Futures Endowment Fund which is restricted for the Carrick Futures defined community area of benefit, providing a sustainable income for the future. The endowment fund is managed by EQ Investors as part of the Foundation Scotland Impact Portfolio. Investments are made in companies that deliver a positive societal impact through their goods, services and business practices. The value of the endowment at 31 December 2023 was £492,425, with £40,000 being invested in 2023, an increase of 17% on 2022.

FINANCIAL REVIEW
Principal funding sources
The charity's principal funding comes from ScottishPower Renewables (UK) Limited, in the form of community benefit funds for Arecleoch and Mark Hill Windfarms in South Ayrshire. The Board wish to note our thanks for their continued support and commitment to our communities.

Reserves policy
As at 31 December 2023, unrestricted funds amounted to £877,145 (2022: £376,581). The aim of the company is to maintain reserves sufficient to meet its future obligations. As mentioned under future plans, an extensive review was undertaken to ensure that the fund arrangements meet the current needs and future aspirations of the communities it serves.

An indemnity insurance policy is in place for the benefit of the trustees.


CARRICK FUTURES (REGISTERED NUMBER: SC369380)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


FUTURE PLANS
In late 2023, the Trustees also undertook a review of the fund arrangements, in line with the Scottish Government Good Practice Principles for Community Benefits from Onshore Renewables, which recommend that community benefit arrangements are reviewed every 3-5 years and incorporate considering the area of benefit, the potential legacy of the fund and the mechanisms used to deliver the fund.

An extensive review was undertaken to ensure that the fund arrangements meet the current needs and future aspirations of the communities it serves. As part of this process, the Trustees considered the current area of benefit, the funding delivery mechanisms and how to secure the best impact for distributing funds. This involved analysis of grant-making data, surveying applicants and key stakeholders, research into the wider context in which the fund is operating and discussions with other funders working in the area.

The key recommendations from this review process included a proposal to revise the fund priorities to more clearly articulate the Fund's support for children and young people, good health and wellbeing and the redevelopment of community assets, underpinned by a commitment to community wealth building and developing a collective understanding what legacy will look like for the communities benefiting from the funds available. It was also agreed to widen the area of benefit to explicitly include the Dailly Community Council area, recognising the interconnectedness of the South Carrick communities.

As a result of the review, as well as continuing to offer a traditional grant-making fund open to applications, Carrick Futures will also be taking the strategic approach of making targeted awards and commissioning services from trusted local partners in order to ensure that the refreshed fund priorities are met and that Carrick Futures is in the best position possible to maximise the impact of its funds in the local area.

The Trustees look forward to working on the implementation of the fund review findings in 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The company Members elect the Trustees, who are also the directors for the purposes of company law. The directors may appoint any individual to be a director in accordance with the Memorandum and Articles of Association. Trustees meet approximately quarterly to set the direction of the company and address strategic issues.

Induction and training of new trustees
New trustees undergo an appropriate induction programme to brief them on their obligations under charity and company law and the financial performance of the company.

Key management remuneration
The charity considers its chairman, who is unpaid, to be its key management personnel.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC369380 (Scotland)

Registered Charity number
SC43722


CARRICK FUTURES (REGISTERED NUMBER: SC369380)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


Registered office
16 Hamilton Sreet
Girvan
KA26 9EY

Trustees
Mr R Pirrie (resigned 5/1/2024)
Ms J Brzezinka
Mr R A Clegg
Mr M B Cross
Ms K McCartney
Ms L C Cunningham
Mr R A Ekern (resigned 28/1/2024)
Mr S J Green
Ms R Walker
Ms M Mitchelle

Auditors
Galbraith Pritchards
Chartered Accountants & Statutory Auditor
20 Barns Street
Ayr
Ayrshire
KA7 1XA

TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of Carrick Futures for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Galbraith Pritchards, will be proposed for re-appointment at the forthcoming Annual General Meeting.


CARRICK FUTURES (REGISTERED NUMBER: SC369380)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 14 September 2024 and signed on its behalf by:





Mr S J Green - Trustee

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF
CARRICK FUTURES


Opinion
We have audited the financial statements of Carrick Futures (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). (The previous year's financial statements did not require to be audited).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 14 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF
CARRICK FUTURES


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the sector in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF
CARRICK FUTURES


Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Marguerite Roos BAcc CA (Senior Statutory Auditor)
for and on behalf of Galbraith Pritchards
Chartered Accountants & Statutory Auditor
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
20 Barns Street
Ayr
Ayrshire
KA7 1XA

17 September 2024

CARRICK FUTURES

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
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
Charitable activities 3
Grants 507,718 - 507,718 419,764

Investment income 2 - - - 456
Total 507,718 - 507,718 420,220

EXPENDITURE ON
Charitable activities 4
Administration 84 - 84 22,786
Support costs 7,070 - 7,070 4,320
Foundation Scotland Grants - - - 282,980
Community Council Grants - - - 20,000
Total 7,154 - 7,154 330,086

NET INCOME 500,564 - 500,564 90,134


RECONCILIATION OF FUNDS
Total funds brought forward 376,581 - 376,581 286,447

TOTAL FUNDS CARRIED FORWARD 877,145 - 877,145 376,581

CARRICK FUTURES (REGISTERED NUMBER: SC369380)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
CURRENT ASSETS
Cash at bank 1,268,016 - 1,268,016 761,169

CREDITORS
Amounts falling due within one year 11 (390,871 ) - (390,871 ) (384,588 )

NET CURRENT ASSETS 877,145 - 877,145 376,581

TOTAL ASSETS LESS CURRENT
LIABILITIES

877,145

-

877,145

376,581

NET ASSETS 877,145 - 877,145 376,581
FUNDS 12
Unrestricted funds 877,145 376,581
TOTAL FUNDS 877,145 376,581

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 14 September 2024 and were signed on its behalf by:





Mr S J Green - Trustee

CARRICK FUTURES

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 506,847 131,712
Net cash provided by operating activities 506,847 131,712

Cash flows from investing activities
Interest received - 456
Net cash provided by investing activities - 456

Change in cash and cash equivalents in
the reporting period

506,847

132,168
Cash and cash equivalents at the
beginning of the reporting period

761,169

629,001
Cash and cash equivalents at the end of
the reporting period

1,268,016

761,169

CARRICK FUTURES

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023


1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31/12/23 31/12/22
£    £   
Net income for the reporting period (as per the Statement of Financial
Activities)

500,564

90,134
Adjustments for:
Interest received - (456 )
Increase in creditors 6,283 42,034
Net cash provided by operations 506,847 131,712


2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/23 Cash flow At 31/12/23
£    £    £   
Net cash
Cash at bank 761,169 506,847 1,268,016
761,169 506,847 1,268,016
Total 761,169 506,847 1,268,016

CARRICK FUTURES

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.

The trustees consider that there are no material uncertainties about the company's abilities to continue as a going concern.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

TAXATION
The charity is exempt from corporation tax on its charitable activities. The charity is not registered for value added tax and accordingly, any such irrecoverable tax is included in the expenditure concerned.

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
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


1. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
PROVISIONS
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

2. INVESTMENT INCOME
31/12/23 31/12/22
£    £   
Deposit account interest - 456

3. INCOME FROM CHARITABLE ACTIVITIES
31/12/23 31/12/22
Activity £    £   
Grants Grants 507,718 419,764

Grants received, included in the above, are as follows:
31/12/23 31/12/22
£    £   
Arecleoch Funding 406,941 331,235
Mark Hill Funding 100,777 88,529
507,718 419,764

4. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 5) note 6) Totals
£    £    £    £   
Administration 1,963 (1,879 ) - 84
Support costs - - 7,070 7,070
Foundation Scotland Grants 21,648 (21,648 ) - -
23,611 (23,527 ) 7,070 7,154


CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. GRANTS PAYABLE
31/12/23 31/12/22
£    £   
Administration (1,879 ) -
Foundation Scotland Grants (21,648 ) 282,980
Community Council Grants - 20,000
(23,527 ) 302,980

Our funds are paid to beneficiaries by Foundation Scotland, a charitable community Foundation. Each year, the Trustees of Carrick Futures approve a contribution to the Carrick Futures Endowment Fund which is restricted for the Carrick Futures defined community area of benefit .

Grants paid by Foundation Scotland during the year on behalf of Carrick Futures:

31/12/23 31/12/22
£ £

Girvan Youth Trust 10,000 13,500
Colmonell Primary School Parent Council 1,850 -
Sacred Heart Primary School Parent Council - 11,040
Community Council Grants - 15,000
Girvan & District Community Council 5,000 5,000
Adventure Centre for Education 4,294 -
Stinchar Valley Magazine - (7,117 )
Pinwherry & Pinmore Community Development Trust 18,750 25,000
Girvan Academy 2,725 5,730
Girvan Folk Festival 9,500 5,000
Colmonell Bowling Club 1,680 1,064
Ballantrae Community Council 5,000 10,000
Barrhill Community Council - 5,000
Girvan Town Team - 4,560
South West Scotland Community Rail Partnership 20,000 -
Colmonell & Lendalfoot Community Council (9,456 ) 5,000
Colmonell Primary School Parent Council 3,330 (2,590 )
Stepping Stones for Families Money Advice Partnership 12,500 37,500
Barr Community Shop and Cafe Limited 7,500 (22,000 )
Opportunities in Retirement 500 500
Colmonell Community Association 7,000 15,056
Ballantrae Trust 34,196 7,975
Boyle Court Library Club - (4,970 )
South Ayrshire Community Transport 8,750 5,000
Lendalfoot Community Association Limited - 2,921
Girvan Primary Parent Council - 9,900
Girvan Rainbows and Brownies 1,500 4,600
Barr Community SCIO 6,180 13,078
Scottish Huntington's Association - 8,955
Ayrshire Cancer Support - 25,000
Girvan Youth Pipe Band Association - 10,000
Biosphere Bikes - 7,975
Girvan Football Club - 20,000
Barr Community Association - 1,300
Girvan Community Playgroup - 8,182
Girvan & District Attractions SCIO 5,000 10,000
Barrhill Bowling Club - 7,000

CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. GRANTS PAYABLE - continued

Girvan Rugby Football Club - 5,000
CRAG Community Arts SCIO - 10,000
Starcatchers 3,200 3,200
1st Girvan Guides 4,220 -
Harbour (Ayrshire) 4,400 -
Place2Be 25,000 -
Dailly Community Development Trust 15,000 -
Foundation Scotland Donation - 20,621
207,619 302,980

In addition, £75,000 has been ring fenced for Ballantrae Trust to part fund the installation of a biomass boiler in the community hub and pub. £24,908 has also been ring fenced for Children 1st to cover the cost of a part time worker at Carrick Family Wellbeing Service.

6. SUPPORT COSTS
Governance
costs
£   
Support costs 7,070

7. NET INCOME/(EXPENDITURE)

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

31/12/23 31/12/22
£    £   
Auditors' remuneration 6,600 -

8. 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.



CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. STAFF COSTS

There were no staff costs during the current or last period.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Charitable activities
Grants 419,764 - 419,764

Investment income 456 - 456
Total 420,220 - 420,220

EXPENDITURE ON
Charitable activities
Administration 22,786 - 22,786
Support costs 4,320 - 4,320
Foundation Scotland Grants 282,980 - 282,980
Community Council Grants 20,000 - 20,000
Total 330,086 - 330,086

NET INCOME 90,134 - 90,134


RECONCILIATION OF FUNDS
Total funds brought forward 286,447 - 286,447

TOTAL FUNDS CARRIED FORWARD 376,581 - 376,581


CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Accrued expenses 18,386 11,493
Deferred grants 372,485 373,095
390,871 384,588

Included within creditors is an amount for deferred income of £372,308 (2022: £373,095). This relates to grants received in advance from Scottish Power Renewables (Uk) Limited.

12. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 376,581 500,564 877,145

TOTAL FUNDS 376,581 500,564 877,145

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 507,718 (7,154 ) 500,564

TOTAL FUNDS 507,718 (7,154 ) 500,564


Comparatives for movement in funds

Net
movement At
At 1/1/22 in funds 31/12/22
£    £    £   
Unrestricted funds
General fund 286,447 90,134 376,581

TOTAL FUNDS 286,447 90,134 376,581

CARRICK FUTURES

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 420,220 (330,086 ) 90,134

TOTAL FUNDS 420,220 (330,086 ) 90,134

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/1/22 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 286,447 590,698 877,145

TOTAL FUNDS 286,447 590,698 877,145

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 927,938 (337,240 ) 590,698

TOTAL FUNDS 927,938 (337,240 ) 590,698

13. RELATED PARTY DISCLOSURES



The under-noted trustees are associated with these organisations who received funding from Carrick Futures as follows:


TrusteePublic Body Funding
£


R PirrieColmonell Community Association7,000
J Brzezinka



CARRICK FUTURES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


13. RELATED PARTY DISCLOSURES - continued

R WalkerGirvan and District Community Council5,000


K McCartneyGirvan and District Community Council5,000


L CunninghamBallantrae Community Council5,000
S Green


M Mitchell
Colmonell & Lendalfoot Community
Council

9,456 returned

14. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.