Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-3151553813805166119881233423407992343692414290346566No description of principal activity2024-03-312023-04-01false672024-03-31 SC173308 2023-04-01 2024-03-31 SC173308 2022-04-01 2023-03-31 SC173308 2024-03-31 SC173308 2023-03-31 SC173308 2023-04-01 SC173308 2022-04-01 SC173308 c:RegisteredOffice 2023-04-01 2024-03-31 SC173308 d:CurrentFinancialInstruments 2024-03-31 SC173308 d:CurrentFinancialInstruments 2023-03-31 SC173308 c:FRS102 2023-04-01 2024-03-31 SC173308 c:Audited 2023-04-01 2024-03-31 SC173308 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC173308 b:Trustee1 2023-04-01 2024-03-31 SC173308 b:Trustee2 2023-04-01 2024-03-31 SC173308 b:Trustee3 2023-04-01 2024-03-31 SC173308 b:Trustee4 2023-04-01 2024-03-31 SC173308 b:Trustee5 2023-04-01 2024-03-31 SC173308 b:Trustee6 2023-04-01 2024-03-31 SC173308 b:Trustee7 2023-04-01 2024-03-31 SC173308 b:Trustee8 2023-04-01 2024-03-31 SC173308 b:Trustee9 2023-04-01 2024-03-31 SC173308 b:Trustee10 2023-04-01 2024-03-31 SC173308 b:Trustee11 2023-04-01 2024-03-31 SC173308 b:Trustee12 2023-04-01 2024-03-31 SC173308 b:UnrestrictedFundsGeneral 2023-04-01 2024-03-31 SC173308 b:UnrestrictedFundsGeneral 2022-04-01 2023-03-31 SC173308 b:RestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:RestrictedIncomeFunds 2022-04-01 2023-03-31 SC173308 b:UnrestrictedFundsGeneral 2024-03-31 SC173308 b:UnrestrictedFundsGeneral 2023-03-31 SC173308 b:RestrictedIncomeFunds 2024-03-31 SC173308 b:RestrictedIncomeFunds 2023-03-31 SC173308 c:ChiefExecutive 2023-04-01 2024-03-31 SC173308 b:Activity1 2023-04-01 2024-03-31 SC173308 b:Activity1 2022-04-01 2023-03-31 SC173308 b:Activity1 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:Activity1 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:Activity2 2023-04-01 2024-03-31 SC173308 b:Activity2 2022-04-01 2023-03-31 SC173308 b:Activity2 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:Activity2 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:Activity3 2023-04-01 2024-03-31 SC173308 b:Activity3 2022-04-01 2023-03-31 SC173308 b:Activity3 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:Activity3 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:Activity4 2023-04-01 2024-03-31 SC173308 b:Activity4 2022-04-01 2023-03-31 SC173308 b:Activity4 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:Activity4 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:Activity5 2023-04-01 2024-03-31 SC173308 b:Activity5 2022-04-01 2023-03-31 SC173308 b:Activity5 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:Activity5 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:TotalUnrestrictedFunds 2023-04-01 2024-03-31 SC173308 b:TotalUnrestrictedFunds 2022-04-01 2023-03-31 SC173308 b:TotalRestrictedIncomeFunds 2023-04-01 2024-03-31 SC173308 b:TotalRestrictedIncomeFunds 2022-04-01 2023-03-31 SC173308 b:TotalUnrestrictedFunds 2024-03-31 SC173308 b:TotalUnrestrictedFunds 2023-03-31 SC173308 b:TotalRestrictedIncomeFunds 2024-03-31 SC173308 b:TotalRestrictedIncomeFunds 2023-03-31 SC173308 c:FullAccounts 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: SC173308
Charity number: SC027481














PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the company, its Trustees and advisers
1 - 2
Trustees' report
3 - 11
Independent auditors' report on the financial statements
12 - 15
Statement of financial activities
16
Balance sheet
17
Statement of cash flows
18
Notes to the financial statements
19 - 37

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024


Trustees
  
Mr S Woollard, Chair
Cllr H Anderson
Ms A M Cairncross (Resigned 7 March 2024)
Mr R Coppock MBE
Mr R W Davison
Ms C Hamilton
Ms J Neilson- Adams
Ms A C Pennington
Ms D A  Reed
Ms J Scott
Ms C Smith
Cllr R G Watters


Company registered number

SC173308

Charity registered number

SC027481

Registered office

Pullar House
35 Kinnoull Street
Perth
PH1 5GD

Trust Director

Mr P Quinn

Independent auditors

Sumer Auditco Limited
Chartered Accountants
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH
Page 1

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Bankers

The Royal Bank of Scotland Plc
12 Dunkeld Road
Perth
PH1 5RB

Solicitors

J & H Mitchell WS
51 Atholl Road
Pitlochry
Perthshire
PH16 5BU

Page 2

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Trustees, who are also directors for the purposes of company law, are pleased to present their annual directors’ report which are also prepared to meet the requirements for a directors’ report and accounts for the Companies Act purposes.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, 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).  
 

Since the charitable company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

Objectives and activities
 

a. Policies and objectives
 

The company's charitable purpose is to promote, advance, manage and effect for the benefit of the public as a whole, the provision, development and improvement of the facilities of the countryside and of the natural resources of Perth and Kinross and to seek the preservation and conservation of the rural heritage of Perth and Kinross, its landscape, wildlife, history and culture, for the benefit, education and training of the community as a whole. The charitable purposes were amended in July 2022 to include ‘’ to conserve and enhance biodiversity and to assist in mitigating or adapting to the effects of climate change.’’
Our main activities are negotiating access to land, building footpaths and cyclepaths , and undertaking conservation projects on the designed landscapes in the area.  In addition, the company undertakes education , awareness raising and publicity activities to promote and encourage access to the countryside for walkers, wheelchair users, cyclists and horse riders.  This work is predominantly delivered in partnership with other organisations and community groups. The main activities undertaken in 2023/24 fell primarily within its flagship projects: Perthshire Big Tree Country, the Cateran Trail, the River Tay Way, Perthshire Nature Connections Partnership, and Developing Community Path Networks. In addition we delivered a range of Education and Outreach  activities. These activities are described in more detail below.
 
We continue to have positive relationships with our major funders and long-term partners: The Gannochy Trust, Scottish Forestry, PKC, Forestry and Land Scotland, NatureScot, and Sustrans. We are in the second of three years’ core funding from the Gannochy Trust ( £140,500 ) and the second year of three years funding from The Forteviot Trust to support our education work ( £10,000 ). During the year we were also successful in securing multi year core funding from the Garfield Weston Foundation  ( £10,000 per annum for 2 years until December 2025 )
Our major conservation project, PNCP, continued to be funded by five stakeholders in addition to PKCT: PKC, Scottish Forestry, Forestry and Land Scotland, NatureScot, and Cairngorms National Park Authority.
The company’s strategy for delivering its purpose is set out in the company’s Strategic Plan.  The Strategic Plan covers a period of three financial years and in the final year of each Strategic Plan, the subsequent plan is developed. This report covers the final year of the current 3 year plan which covers the period April 2021 -24. This plan includes a new specific focus on Conservation and Education initiatives. During the year a new Strategic Plan covering the period April 2024 through to March 2028 was written and approved by the Trustees , together with a new Fundraising Strategy , and a new Communications and Marketing Plan covering the same period.
 
Page 3

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Objectives and activities (continued)


For each financial year an Annual Operating Plan is agreed by the directors, setting out the practical work the company’s staff will undertake in order to meet the objectives of the Strategic Plan and deliver the company’s charitable purpose. A summary of the main points of the Strategic Plan 2021 - 24 and the Annual Operating Plan for 2023/24 are included with these accounts.

 
 

Achievements and performance
 

a. Main achievements of the company
 

The Trust’s key achievements and performance are assessed against the objectives and measures of success outlined in the Strategic Plan 2021- 24. We are grateful to our core funders, the Gannochy Trust , Forteviot Trust . Garfield Weston Foundation  and Perth and Kinross Council.  Their support helps to cover much of the cost of the management and administration of the Trust. Where possible, the Trust seeks to recover the remaining costs through Full Cost Recovery set against the different activities and projects undertaken.
 

b. Strategic objective 1
 

We will establish the River Tay Way by creating a long-distance walking and cycling route from Kenmore to Perth following the course of the River Tay.
River Tay Way
The River Tay Way is a new long-distance walking and cycling route we are developing between Perth and Kenmore following the mighty River Tay. It connects Perth, Luncarty, Stanley, Dunkeld and Birnam, Aberfeldy and Kenmore through a ‘daisy chain’ of sustainable community links that enables low-carbon active travel and adds to the tourism offer in the area. This is one of the Trust’s major long-term projects. 
Stanley to Luncarty Upgrade
We received a further £13,000 from Sustrans to continue the design, feasibility and associated community consultation for an active travel route between Stanley and Luncarty. Negotiations with landowners on the preferred route continues. We hope to complete the concept design of the preferred route in Spring 2024 with detailed and technical design progressing thereafter

Aberfeldy section upgrades
Construction of the River Tay Way Hub multi use shower and toilet block at Aberfeldy was completed in the summer of 2023 . This was funded by PKC via the Visit Scotland Rural Tourism and Infrastructure Fund and the UK Place Based investment Fund.
Dalerb to Kenmore
Working with FLS we designed a path linking the site of the new Crannog back towards Kenmore. Planning consent is expected in summer 2024. This pre construction phase was funded by Forestry and Land Scotland.
 

Page 4

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

c. Strategic objective 2
 

We will continue to manage Perthshire Big Tree Country to protect the historic landscapes and improve the environment for all.
Perthshire Big Tree Country (PBTC)
We continue to have positive working relationships with our supporter hotels Gleneagles, Crieff Hydro and Dunkeld House Hotel. We have successfully recruited new members to the scheme: Fonab Hotel and Bachilton Barn, Bachilton Farm Holidays and BlueSky Experiences. PKCT are planning to upgrade the Dunkeld House Tree Trail interpretation in 2024.
Levenseat Ltd also donated £1,500 towards Perthshire Big Tree Country through PKC’s Procurement Department Community Benefits scheme. The Walking in Perthshire Big Tree Country brochures were reprinted and distributed through local and national visitor information centres.  
 

d. Strategic objective 3
 

We will undertake strategic path upgrades to create links between established path networks and address key gaps in countryside access across Perth and Kinross.
Cateran Trail
One of Scotland’s Great Trails, the Cateran Trail is a fully waymarked, 64-mile / 103 km route through Perthshire and the Angus glens in the heart of Scotland.
It is a circular route divided into five stages that can be comfortably walked in five days. With no official beginning or end, it can be joined at any stage.
The Cateran Trail has been named one of the top 10 bikepacking routes in Scotland. 
Supporting the Cateran Trail 
We continued to promote the Supporting the Cateran Trail scheme for the many small accommodation providers and businesses along the route to donate to the Trail’s upkeep. We also promote the Love the Cateran Trail appeal on our website.
Access improvements
Kirkmichael’s paths have  received generous funding from the Lascelles Charitable Trust for a path audit and  improvements will be carried out in 2024. 
Over £12,000 was received from the Kirriemuir landward west community grant scheme which together with £4,000 from Avondale Environmental allowed path improvements at Brackny Bridge.
Cateran Yomp
The Cateran Yomp, took place in June 2023, raising over £250,000 for ABF The Soldiers’ Charity. PKCT received a donation of £7500 from ABF to assist with route maintenance for the event. The 2024 Yomp is scheduled for June 2024.
 
Page 5

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

Hugh Fraser Foundation
PKCT was delighted to have received a third donation of £3000 from the Hugh Fraser Foundation to support our work on the Cateran Trail. We have also been successful in securing this support for a further three years to 2027 at £5000 per annum.
Developing Community Path Networks
Our vision is for people to be regularly spending time outdoors enhancing their wellbeing, connecting with nature, and caring for the countryside.
Walking and cycling in green spaces is beneficial for both mental and physical health and is an effective way to enhance quality of life. Research shows that most people prefer to use established and well-marked paths to access the countryside.
While Perth & Kinross Council (PKC) and PKCT have worked hard over the years to ensure there are many excellent paths in Perth and Kinross, there are still gaps in the network that could be addressed to significantly improve it.
Bridge of Earn to Newburgh Active Travel Route
PKCT has secured a further £25,000 from Sustrans for  community consultation and design of active travel infrastructure improvements between Bridge of Earn and Newburgh. This project has been a long-held ambition of the local community and PKCT for over 10 years. The project has been broken into smaller phases to assist with fundraising in the future. Construction of the first phase at the western end of the route completed  in the Spring of 2023. In Spring 2024 Phase 1b at the M90 slip roads was completed at a cost of £275,000. These sections of construction are funded by Sustrans, supplemented by PKCT  CWSS funding. Planning permission was received for Phase 1 C (the Baiglie Straight) with completion of design scheduled for summer 2024. Design work and community consultation on Phase 2a and 2b from Aberargie through to Newburgh will continue through 2024 to secure an agreed route.
Ben Vrackie Path Repairs
Following completion of a PKC funded feasibility study and cost estimate for path repairs on Ben Vrackie, a major fundraising exercise was undertaken which raised over £250,000 for the repairs to the upper sections of this popular route. Major funders included the Gannochy Trust , PKC , Avondale Environmental , PKCT , Andie Millar Trust , Browne Forbes Memorial Fund , Scottish Mountaineering Trust , Enchanted Forest and donations from local supporters and via a Just Giving appeal. The repairs including the use of a helicopter to move stone that had been gathered from the scree slope of the summit down into position and then construction of a raised, narrower path including some pitching and much drainage ditching were completed in Autumn 2023.
Quarrymill Woodland Park
We are working with The Gannochy Trust and improved the signage and interpretation at Quarrymill Woodland Park. This included production of a new map and leaflet. In addition we produced a report for the Gannochy Trust on potential improvements to the path network on their estate. This work will be followed up in 2024.

Glenturret
The Glenturret Distillery now collects donations for PKCT every time a tour ticket is sold, These donations will be added to donations from Crieff Hydro with the aim being to make a new Nature Trail adjacent to both landholdings. It is hoped this work will start in 2024.
 
Page 6

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

 

e. Strategic objective 4
 

We will undertake specific education projects to increase knowledge and experience of the countryside to improve understanding, enjoyment, appreciation of, and care for nature and the environment.
Discovery, Learning And Engagement
PKCT is committed to providing education and engagement projects, programmes and events that enhance people’s understanding and appreciation of the countryside. Biodiversity loss and climate change are key focus points for our education work, and we create opportunities to help communities learn about and take direct action for nature and the environment. Our education work is possible thanks to funding from The Gannochy Trust and The Forteviot Trust.? 
 
A Tree For Every Child In Perthshire (TEC)
 
PKCT has successfully completed a second year of A Tree for Every Child -  a project which aims to educate and inspire children on the importance of trees and provide the opportunity to partake in tree planting as a conservation action. Around 253 children from five schools received three educational workshops from PKCT, including tree planting. In addition, one public tree planting event, and a school tree planting were organised at The Bunkhouse at Aberfeldy and a school planting was organised for pupils at Perth Grammar School. Around 560 trees have been planted. The project was funded by Scottish Forestry and PKC with support from the Woodland Trust’s Free Trees for Schools Scheme. 
Perth Wildlife Watch
Perth Wildlife Watch continues to go from strength to strength with 18 children booked onto the Feb 2024 session. It provides children aged 8- 12 with opportunities to experience and learn about nature at a variety of locations around Perth.
 
Youth Work
PKCT is working with the Strategic Youth Partnership to trial the outdoor learning programme which forms part of the new Grow Wild Project, helping young people experience the outdoors and work towards award schemes. A new Youth Council forms the other aspect of this project, made possible by funding from the Gannochy Trust’s Youth Panel Fund, and the application process was launched in January 2024 , with the Council commencing in Spring / Summer 2024
Volunteering 
PKCT has provided practical conservation volunteering experience to Glenalmond College through partnership working with PKC. Further opportunities were also delivered including Balsam Bashing at Loch Leven with NatureScot. Wildlife Watch and Youth Council provide additional ways for volunteers to be involved with PKCT. 
Perthshire Primary Schools Birdbox Project
Delivered by PKCT in partnership with GreenTweed Eco, this project is in its second year and will deliver ten hand-made bird boxes to every state primary school to help educate young people about nature. Generous funding from the Jimmy Cairncross Trust and PKCT has made this possible.
 
Page 7

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

Events, Training and Outdoor Learning
A significant programme of outdoor learning sessions, training and events have been delivered by the DLE Officer in 2023-2024. These include outdoor learning support to schools; guided nature walks at Glenturret Distillery; CPD training events covering topics such as outdoor learning, and SOAC, the latter in partnership with NatureScot; PKC’s Earth Market and Youth Climate Conference. 
Summary
 PKCT has had 1,122 interactions with children and 331 interactions with adults across its education work this financial year so far. We look forward to continuing to provide quality experiences this year.  
 

f. Strategic objective 5
 

We will develop projects, working in partnership with others as appropriate, incorporating responsible approaches to climate change mitigation and adaptation and biodiversity conservation, including ecological conservation to highlight how the state of our countryside contributes to and is hugely influenced by these global challenges.
Perthshire Nature Connections Partnership (PNCP)
PNCP has continued to meet during 2023-24, principally as a steering group to consider reports on the projects below, although members of the wider network continue to provide comment and advice on specific actions arising. This included convening a group of ‘nature-voices’ to respond to Perth & Kinross Council’s consultation on their ‘New National Park’ bid proposal. Collaboration will continue through PNCPs further interest in the Council’s landscape-scale actions, regardless of the success of their national park bid. Currently PKCT is in a position to provide secretariat to PNCP for a further 12 months, beyond the funding package which steering group members provided 2021-2024. We will soon engage with the whole of PNCP to plan the work for the coming year. 
Breadalbane Species-Rich-Grassland (SRG)
SRG work continued in 2023-24 but progress on the ground was limited. A botanical survey  has been commissioned for 2024. We held a successful National Meadows Day event at Weem Meadow and had made progress with re-starting meadow management there – but terrible weather made it impossible. A meadow cut for 2024 will be attempted. Several leads were followed to resolve the complex land-ownership at Fearnan Cowpark, to allow conservation management; but an uncooperative owner remains the major obstacle. The community are considering registering with the statutory community buy-out process.
Riverwoods - Investment Readiness Pioneers (IRP)
An award of over £124K was accepted from Esme Fairbairn Foundation in May 2023 to deliver three outcomes.
1. Landowners commit to an ambitious plan to restore habitats in the upper Almond catchment Indicator: A costed plan is developed for the restoration of terrestrial and freshwater habitats.
2. Local businesses do more to improve climate and ecological resilience Indicator: Funding agreements are developed with businesses that need to reduce their environmental impact and contribute to the cost of restoration.
3. Communities feel more engaged with ecological restoration in their local landscape Indicator: Communities decide how they want to be involved in the Project and what outcomes they want from it.
We recently agreed a project extension with EFF to end of July, and have commissioned almost £95k of work to date. Project delivery has also built productive relationships with landowners and with key stakeholders in the nature-finance sector. Further funding bids are in hand leading from Riverwoods.
 
Page 8

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Achievements and performance (continued)

 

Financial review
 

a. Reserves policy
 

The Trustees have established a policy whereby the unrestricted funds should reflect three months core costs plus any redundancy costs in the event of the charitable company being wound up which equates to approximately £118,000 at 31 March 2024.
At present free unrestricted funds amount to a surplus of £207,145 (2023 – surplus of £173,283). Included within the unrestricted funds is the defined pension asset of £NIL, as the defined benefit asset was not recognised  (2023 - £0). PKC are guarantors of the pension liability therefore excluding this the unrestricted funds are a surplus of £207,145  (2023 - £173,283 surplus) which is sufficient to cover the reserves policy.
 

b. Going concern
 

In the year ended 31 March 2024 the charitable company carried out various projects. The net movement in funds, which represents incoming resources less resources expenses before any adjustment for pension gains or losses and , showed a surplus of £142,012 (2023 - deficit of £245,317). 2024 surplus includes  pension return totalling £79,000. The overall surplus is made up of a surplus in unrestricted funds of £116,868 and a surplus in restricted funds of £28,144. 
The total retained unrestricted funds amount to a surplus of £207,145 (2023 – surplus of £173,283) at 31 March 2024.
The restricted funds which are available for the support of specific projects had a closing total fund of £203,996 surplus (2023 - £171,846).
The risk of going concern of the charitable company due to the defined pension liability is mitigated by Perth and Kinross Council acting as guarantor over the pension liability. On this basis the accounts have been prepared on a going concern basis.
While the charitable company is fortunate in the support given by its various funders, the Board are aware of the risk in future years of an anticipated diminishing income stream from traditional and previous sources and have successfully widen the pool of funders to enable it to continue support for projects at a similar level and quality as in the past. The board will continue to keep this under review.
 
 
Page 9

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Structure, governance and management
 

a. Constitution
 

Perth and Kinross Countryside Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. These were amended in July 2022 to include the additional charitable purpose ‘’where possible, when implementing any of the foregoing Charitable Purposes, to conserve and enhance biodiversity and to assist in mitigating or adapting to the effects of climate change.’’
The charity operates under the rules of its Memorandum and Articles of Association.
 

b. Organisational structure and decision-making policies
 

Under the new constitution, the Board comprises of up to twelve individuals who are Directors of the company and who act as Charity Trustees. Of that number two are nominated by Perth and Kinross Council .The remaining current 10 Trustees are individuals who by application or invitation are elected by the Charity at a general meeting. 
Four Board sub groups cover Governance, Finance , Fundraising and HR , Marketing and Communications and  Mission and Projects. The skills matrix and a register of interests for the Trustees has been updated and the Risk Register has also been updated to include that staff are now hybrid working .
During the year all staff and Trustees completed the NSPCC Safeguarding course , and all Trustees received refresher training on Charity Law from JH Mitchell.
 

c. Financial risk management
 

The Trustees have reviewed the major risks to which the charitable company is exposed, particularly in connection with the charitable company's ability to undertake the activities for which it was established and consider that adequate safeguards are in place to mitigate these risks as far as possible. 
 

Plans for future periods
 

The Trustees, Trust Director and Trust Employees plan to complete ongoing projects, continue to research other identified and potential projects that fall within the Perthshire and Kinross Area, and comply with the objectives of the Trust. Future sources of funding for these projects and Core Costs will be researched and identified, on an ongoing basis.

 
 

Page 10

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
 
Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors
 

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
 

Auditors
 

The auditors, Sumer Auditco Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
 

 

Approved by order of the members of the board of Trustees and signed on their behalf by:



Mr S Woollard
Date: 2 September 2024
Page 11

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF  PERTH AND KINROSS COUNTRYSIDE TRUST
 

Opinion


We have audited the financial statements of Perth and Kinross Countryside Trust (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 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 United Kingdom, including the Financial Reporting Council's Ethical Standard, 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.


Page 12

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF  PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)


Other information


The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual reportOur 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. 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 course of 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.


Opinion 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 Trustees' report which includes the directors' report and strategic report prepared for the purposes of the company law for the financial year for which the financial statements are prepared is consistent with the financial statements..
the directors' report and strategic report included within the Trustees' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception


In the light of our 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 directors report included within the Trustees' report.


We have nothing to report in respect of the following matters in relation to which Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require 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 prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.


Page 13

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF  PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)


Responsibilities of trustees


As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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.
 

Auditors' responsibilities for the audit of the financial statements


We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.


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 an Auditors' report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 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 charitable company and the industry in which it operates, and considered the risk of acts by the charitable 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 Charities and Trustee Investment (Scotland) Act 2005, 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.  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 Auditors' report.


Page 14

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS AND THE TRUSTEES OF  PERTH AND KINROSS COUNTRYSIDE TRUST (CONTINUED)


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 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, its members, as a body, and its trustees, as a body for our audit work, for this report, or for the opinions we have formed.





Douglas Rae (Senior statutory auditor)
for and on behalf of
Sumer Auditco Limited
Chartered Accountants
Statutory Auditors
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH

12 September 2024


Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.


Page 15

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)


 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024


Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £
        £

Income from:







Donations and legacies

2

57,395

647,142

704,537

591,822
 
Charitable activities

3

184,950

428,212

613,162

541,778
 
Total income
242,345
1,075,354
1,317,699
1,133,600
Expenditure on:







Charitable activities

4

125,477

1,047,210

1,172,687

1,378,917
 
Total expenditure
125,477
1,047,210
1,172,687
1,378,917

Net income/(expenditure)

  

116,868

28,144

145,012

(245,317)
 
Transfers between funds

 12 

(4,006)

4,006

-

-
 
Net movement in funds before other recognised gains/(losses)

  

112,862

32,150

145,012

(245,317)
 

Other recognised gains/(losses):

  





Actuarial gains on defined benefit pension schemes

 18 

10,000

-

10,000

816,000
 
De-recognised pension asset

  

(89,000)

-

(89,000)

(383,000)
 
  
33,862
32,150
66,012
187,683

Reconciliation of funds:

  





Total funds brought forward

  

173,283

171,846

345,129

157,446
 
Net movement in funds

  

33,862

32,150

66,012

187,683
 
Total funds carried forward
  
207,145
203,996
411,141
345,129

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 19 to 37 form part of these financial statements.

Page 16

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)
REGISTERED NUMBER: SC173308


 
BALANCE SHEET
AS AT 31 MARCH 2024


2024
2023
Note
£
£

Current assets
  

Debtors
 10 
259,483
278,634

Cash at bank and in hand
  
417,254
319,407

  
676,737
598,041

Creditors: amounts falling due within one year
 11 
(265,596)
(252,912)

Net current assets 
  
 
 
411,141
 
 
345,129

Total assets less current liabilities
  
411,141
345,129

Net assets excluding pension asset 
  
411,141
345,129

Total net assets 
  
411,141
345,129


Charity funds
  

Restricted funds
 12 
203,996
171,846

Unrestricted funds
 12 
207,145
173,283

Total funds
  
411,141
345,129

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:




Mr S Woollard
Date: 3 September 2024

The notes on pages 19 to 37 form part of these financial statements.
Page 17

 
PERTH AND KINROSS COUNTRYSIDE TRUST
 
(A company limited by guarantee)


 
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Cash flows from operating activities

Net cash used in operating activities

97,847
(105,554)

Change in cash and cash equivalents in the year
 
97,847
 
(105,554)

Cash and cash equivalents at the beginning of the year
319,407
424,961

Cash and cash equivalents at the end of the year
417,254
319,407

The notes on pages 19 to 37 form part of these financial statements

Page 18

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

  
1.1

Basis of preparation of financial statements

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Perth and Kinross Countryside Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Charity has secured ongoing funding to 31 March 2025 and has a guarantee from Perth and Kinross Council to cover any pension liability therefore on this basis the trustees have prepared accounts on a going concern basis.
The financial statements are prepared in Sterling, which is the functional currency of the Trust. Monetary amounts in those financial statements are rounded to the nearest £.

  
1.2

Company status

Perth and Kinross Countryside Trust (Company No - SC173308 and Charity No – SC027481) is a company, limited by guarantee and incorporated in Scotland. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 

  
1.3

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the company 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.

  
1.4

Income

Income is recognised when the charitable company has entitlement to the funds, when it is probable that the income will be received and the amount can be measured reliably. 

Donations, legacies and similar income resources are included in the period in which they are receivable, which is when the charitable company becomes entitled to the resource.

Income from grants is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

 

Page 19

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

  
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 allocated on the portion of the asset’s use.

Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities, those costs of an indirect nature necessary to support them and an allocation of governance costs. Support costs have been allocated on an actual basis.

All expenditure is inclusive of irrecoverable VAT.

  
1.6

Taxation

As a charitable company, Perth and Kinross Countryside Trust is exempt from tax on income and gains to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charitable company in either the current or prior year.

  
1.7

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.  Prepayments are valued at the amount prepaid net of any trade discounts due.

  
1.8

Creditors and provisions

Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount. 

  
1.9

Financial instruments

The charitable 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 20

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

  
1.10

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

  
1.11

Pensions

The charitable company operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2024. The charitable company is part of the Tayside Pension Fund. The assets of the scheme are held separately from those of the charity.
The contributions are determined by a qualified actuary on the basis of valuations using the projected unit method. The most recent valuation was as at 31 March 2024 and has been updated to reflect conditions at the balance sheet date. The assumptions that have the most significant effect on the results of the valuation are those relating to the rate of return on investments and the rate of increase in salaries and pensions. 
Pension scheme assets are valued at fair value at the balance sheet date. Fair value is based on market price information and in case of quoted securities is the published bid price. Pension scheme liabilities are measured on an actuarial basis using the projected unit method and are discounted to their present value using a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The pension scheme deficit is recognised in full on the balance sheet. Pension scheme surplus will only be recognised to the extent that the charitable company is able to recover the surplus either through reduced contributions in the future or through refunds from the plan.
 
Page 21

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.

Income from donations and legacies





Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £
        £
Donations






ABF: The Soldiers' Charity

-

7,750

7,750

7,500
 
Basil Death Trust

-

1,000

1,000

3,000
 
Jimmie Cairncross Charitable Trust

-

3,000

3,000

3,000
 
CNPA

-

5,000

5,000

5,000
 
Co-op Opportunity

-

1,106

1,106

-
 
Crieff Hydro

-

8,013

8,013

6,558
 
Dunkeld House

-

7,757

7,757

5,178
 
EB Scotland

-

54,014

54,014

24,478
 
Esmee Fairburn

-

124,190

124,190

-
 
Fonab Castle

-

4,095

4,095

76
 
Forteviot Trust

10,000

-

10,000

10,000
 
Gannochy Trust

-

-

-

140,500
 
Garfield Weston

10,000

-

10,000

-
 
Gifts in Kind

10,000

-

10,000

10,000
 
Gleneagles Hotel

22,924

-

22,924

-
 
Glenturret

-

5,612

5,612

-
 
Hugh Fraser Foundation

-

-

-

3,000
 
Andie Miller Trust

-

1,000

1,000

-
 
Just Giving

10

3,001

3,011

-
 
Kirriemuir West Community Grant Scheme

-

12,846

12,846

9,000
 
Loch Lomond

-

-

-

5,000
 
Mr R Cunningham

-

-

-

300
 
Mrs Lascelles Trust

-

2,000

2,000

1,500
 
Nature Scot

-

10,420

10,420

16,702
 
Perth and Kinross Council

-

354,014

354,014

297,755
 
Scottish Foresty

-

4,619

4,619

-
 
Scottish Wildlife Trust

-

-

-

4,000
 
Brown Forbes

-

20,000

20,000

-
 
Strathearn Holiday

-

1,200

1,200

459
 
TayLP

-

4,810

4,810

36,230
 
Scottish Mountaineering Trust

-

9,932

9,932

-
 
Small donations

4,461

1,763

6,224

2,586
 


57,395
647,142
704,537
591,822
Total 2023


162,969
428,853
591,822
Page 22

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.

Income from charitable activities





Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £
        £





The Gannochy Trust

140,500

78,089

218,589

3,648
 
Sustrans

-

243,768

243,768

391,790
 
Full Cost Recovery

14,200

63,948

78,148

64,233
 
Perth and Kinross Council

30,000

-

30,000

31,030
 
SSE Community Funds

-

-

-

40,682
 
FES - Tay Forest District

-

-

-

1,750
 
Reimbursment of costs

250

42,407

42,657

8,645
 
Total 2024


184,950
428,212
613,162
541,778
Total 2023


30,000
511,778
541,778


4.

Analysis of expenditure on charitable activities


Summary by fund type





Unrestricted funds
2024
Restricted funds
2024
Total
2024
Total
2023
        £
        £
        £
        £





Projects

125,477

1,047,210

1,172,687

1,378,917
 
Total 2023


460,419
918,498
1,378,917

Included within unrestricted funds are actuarial pension service net return adjustment totalling £79,000 (2022 - £288,000- charge) - note 18.

Page 23

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.

Analysis of expenditure by activities





Activities undertaken directly
2024
Support costs
2024
Total
funds
2024
Total
funds
2023
        £
        £
        £
        £





Projects

919,846

252,841

1,172,687

1,378,917
 
Total 2023


758,862
620,055
1,378,917


Analysis of direct costs




2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Projects

919,846

919,846

758,862
 
Total 2023


758,862
758,862

Analysis of support costs




2024
Total
funds
2024
Total
funds
2023
        £
        £
        £




Staff costs

294,086

294,086

296,136
 
General expenses

19,480

19,480

20,678
 
Net pension costs/(return) - defined benefit

(79,000)

(79,000)

288,000
 
Governance costs

18,275

18,275

15,241
 


252,841
252,841
620,055
Total 2023


620,055
620,055

Page 24

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.

Auditors' remuneration

2024
2023
£
£

Fees payable to the company's auditor for the audit of the company's annual accounts
8,300
6,540

Fees payable to the company's auditor in respect of:

All non-audit services not included above
7,900
7,380


7.



Staff costs


2024
2023
£
£


Wages and salaries
234,431
238,669

Social security costs
19,925
20,682

Contribution to defined contribution pension schemes
39,730
36,785

294,086
296,136

The average number of persons employed by the company during the year was as follows:


2024
2023

No.
No.


Employees
6
7

No employee received remuneration amounting to more than £60,000 in either year.

During the year, key management personnel received remuneration and benefits totaling £69,295 (2023 - £65,640)



8.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).


9.


Related party transactions

During the year, the charitable company received income from Jimmie Cairncross Charitable Trust totalling £3,000 (2023- £3,000), an organistaion in which Alex Cairncross, Trustee, is a Board Member.

Page 25

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.



Debtors


2024
2023
£
£


Due within one year

Trade debtors
258,210
277,611

Prepayments and accrued income
1,273
1,023

259,483
278,634


11.



Creditors: Amounts falling due within one year


2024
2023
£
£


Trade creditors
230,119
221,641

Other taxation and social security
6,906
5,557

Accruals and deferred income
28,571
25,714

265,596
252,912

Page 26

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.

Statement of funds


Statement of funds - current year

Balance at 1 April 2023
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at 31 March 2024
£

Unrestricted funds







Designated funds








Development fund 

10,000

-

(4,000)

14,752

-

20,752
 

General funds








General Funds

163,283

242,345

(200,477)

(18,758)

-

186,393
 
Pension Reserve

-

-

79,000

-

(79,000)

-
 
Total Unrestricted funds




173,283

242,345

(125,477)

(4,006)

(79,000)

207,145

Page 27

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.

Statement of funds (continued)

Statement of funds - current year

Balance at 1 April 2023
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at 31 March 2024
£







Restricted funds








Aitken Arboretum

1,561

-

(1,561)

-

-

-
 
Ben Vrackie

20,000

183,752

(213,986)

10,234

-

-
 
Birnam Oak Appeal

992

-

(992)

-

-

-
 
Bridge of Earn to Newburgh

41,813

294,541

(332,579)

-

-

3,775
 
Cataran Trail

2,195

24,679

(29,689)

2,815

-

-
 
Comrie Community Council Project

-

15,100

-

-

-

15,100
 
Comrie to Bairds Monument

-

16,858

(16,827)

-

-

31
 
Education

-

14,291

(15,385)

1,094

-

-
 
Gannochy Estate Plan

-

4,240

(4,240)

-

-

-
 
Glenturret

-

9,552

(1,860)

-

-

7,692
 
Kirkmichael

5,642

2,000

(2,000)

-

-

5,642
 
Nature Connections Partnerships

14,940

35,700

(36,207)

34,487

-

48,920
 
NTCS

1,961

-

(55)

(1,700)

-

206
 
PBTC

26,620

20,879

(15,900)

(10,234)

-

21,365
 
PCCP

40,487

-

-

(36,987)

-

3,500
 
Quarrymill

-

9,491

(9,524)

33

-

-
 
Rannoch Active Travel Route

1,477

2,154

(8,440)

4,809

-

-
 
Rattray Map Project

1,145

-

(600)

(545)

-

-
 
River Tay Way

13,000

309,517

(296,191)

-

-

26,326
 
Riverwoods

-

124,190

(52,764)

-

-

71,426
 
TayLP

13

8,410

(8,410)

-

-

13
 



171,846
1,075,354
(1,047,210)
4,006
-
203,996

Total of funds


345,129
1,317,699
(1,172,687)
-
(79,000)
411,141
Page 28

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 April 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at
31 March 2023
£

Unrestricted funds







Designated funds








Development fund 

-

-

-

10,000

-

10,000
 

General funds








General Funds

152,873

192,969

(172,419)

(10,140)

-

163,283
 
Pension Reserve

(145,000)

-

(288,000)

-

433,000

-
 



7,873
192,969
(460,419)
(10,140)
433,000
163,283
Total Unrestricted funds




7,873

192,969

(460,419)

(140)

433,000

173,283


Page 29

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.

Statement of funds (continued)

Statement of funds - prior year

Balance at
1 April 2022
£
Income
£
Expenditure
£
Transfers in/out
£
Gains/
(Losses)
£
Balance at
31 March 2023
£







Restricted funds








Aitken Arboretum

1,561

-

-

-

-

1,561
 
Ben Vrackie

-

21,750

(1,750)

-

-

20,000
 
Birnam Oak Appeal

992

-

-

-

-

992
 
Bridge of Earn to Newburgh

-

333,703

(291,890)

-

-

41,813
 
Cateran Trail

7,190

30,803

(35,798)

-

-

2,195
 
Education

8,645

18,681

(27,466)

140

-

-
 
Kirkmichael

4,842

1,500

(700)

-

-

5,642
 
Nature Connections Partnerships

10,266

44,000

(59,326)

20,000

-

14,940
 
NTCS

13,266

-

(1,305)

(10,000)

-

1,961
 
PBTC

25,634

12,751

(11,765)

-

-

26,620
 
PCCP

53,847

-

(3,360)

(10,000)

-

40,487
 
Quarrymill

-

11,873

(11,873)

-

-

-
 
Rannoch Active Travel Route

-

172,840

(171,363)

-

-

1,477
 
Rattray Map Project

1,160

2,785

(2,800)

-

-

1,145
 
River Tay Way

22,157

244,715

(253,872)

-

-

13,000
 
TayLP

13

45,230

(45,230)

-

-

13
 



149,573
940,631
(918,498)
140
-
171,846


Total of funds


157,446
1,133,600
(1,378,917)
-
433,000
345,129

Page 30

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12.    Statement of funds (continued)
         Designated Funds Description
         The Trust has set aside funds for the initial running of new projects.
         
Restricted Funds Description
         Aitken Arboretum – The restoration of the Aitken Arboretum on Kinnoull Hill, Perth.
         Ben Vrackie - The path improvements to the route up Ben Vrackie.
         Birnam Oak - The maintenance and care of the ancient Birnam Oak in Dunkeld.
         Bridge of Earn to Newburgh - An active travel route between Bridge of Earn and Newburgh.
         Cateran Trail – 64 mile circular route through the Est Perthshire hills.
         Comrie Community Council Projects - This is to maintain and improve Shaky Bridge.
         Comrie to Bairds Monument - This is a potential new active travel route Comrie towards Crieff.
         Education - General education projects.
         Gannochy Estate Plan - Perth and Kinross Countryside Trust has produced a new plan for the Gannochy   
         Trust showing potential access improvements.
         Glenturret - Is a planned nature trail between Glenturret Distillery and Crieff Hydro Hotel.
         Kirkmichael – Paths network upgrade and maintenance in and around village of Kirkmichael.
         Nature Connections Partnership - The nature restoration, enhancement and climate change adaption and  
         mitigation in Perthshire. 
         National Tree Collections of Scotland Network (NTCS) – Running NTCS; a network of Scotland's most   
         important tree collections.
         Perthshire Big Tree Country (PBTC) - Upgrading and maintaining the finest woodland and heritage tree 
         sites in Highland Perthshire for people to visit and enjoy.
         Perthshire Conifer Conservation Project (PCCP) – running PCCP; restoring Perthshire’s designed 
         landscapes through ex-situ conservation of endangered conifers.
         Quarrymill - New interpretation and signage at Quarrymill.
         Rannoch Active Travel Route- Rannoch -The creation of a fully accessible active travel route from the 
         village down to the riverside path and a new destination with seating, and to improve the access for all 
         along the paths heading east and west along the riverbank. 
         Rattray Map Project - The development of a map and leaflet for a local path network. 
         Tay Way – Establishing a long distance walking and cycling route from Kenmore to Perth.
         Riverwoods - Re-establishment of Riverwoods in the Upper Almond catchment across 
         multiple landholdings.
         Tay Landscape Partnership – HLF-funded 4 year Landscape Partnership project in partnership with 
         Perth &  Kinross Heritage Trust.
 
Page 31

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.     Statement of funds (continued)
          Transfer between funds
          Scottish Forestry agreed monies previously donated for NTCS and PCCP projects could be transferred to  
          the new Nature Connections project. 
          The Trust transferred monies between unrestricted to the designated Development Fund and to also clear 
          any overspend on restricted funds.


13.

Summary of funds


Summary of funds - current year

Balance at 1 April 2023
£
 
Income
£
 
Expenditure
£
 
Transfers in/out
£
 
Gains/
(Losses)
£
 
Balance at 31 March 2024
£
 
Designated funds

10,000

-

(4,000)

14,752

-

20,752
 
General funds

163,283

242,345

(121,477)

(18,758)

(79,000)

186,393
 
Restricted funds

171,846

1,075,354

(1,047,210)

4,006

-

203,996
 


345,129
1,317,699
(1,172,687)
-
(79,000)
411,141


Summary of funds - prior year

Balance at
1 April 2022
£
 
Income
£
 
Expenditure
£
 
Transfers in/out
£
 
Gains/
(Losses)
£
 
Balance at
31 March 2023
£
 
Designated funds

-

-

-

10,000

-

10,000
 
General funds

7,873

192,969

(460,419)

(10,140)

433,000

163,283
 
Restricted funds

149,573

940,631

(918,498)

140

-

171,846
 


157,446
1,133,600
(1,378,917)
-
433,000
345,129

Page 32

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds
2024
Restricted funds
2024
Total
funds
2024
        £
        £
        £



Current assets

236,863

439,874

676,737

Creditors due within one year

(29,718)

(235,878)

(265,596)

Total 


207,145
203,996
411,141



Analysis of net assets between funds - prior period

Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £



Current assets

200,253

397,788

598,041

Creditors due within one year

(26,970)

(225,942)

(252,912)

Total 

173,283
171,846
345,129


15.



Reconciliation of net movement in funds to net cash flow from operating activities


2024
2023
£
£

Net income/expenditure for the period (as per Statement of Financial Activities)



145,012

(245,317)

Adjustments for:

(Gains)/losses on investments
(89,000)
(528,000)

(Increase)/ decrease in debtors
19,151
(229,196)

Increase in creditors
12,684
80,959

Other recognisable gains/(losses)
10,000
816,000

Net cash provided by/(used in) operating activities
97,847
(105,554)


Page 33

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

16.



Analysis of cash and cash equivalents


2024
2023
£
£

Cash in hand
417,254
319,407

Total cash and cash equivalents
417,254
319,407


17.



Analysis of changes in net debt





At 1 April 2023
Cash flows
At 31 March 2024
£
£

£

Cash at bank and in hand

319,407

97,847

417,254


319,407
97,847
417,254


18.


Pension commitments

The company operates a defined benefit pension scheme.

The company operates within the Local Government Superannunnuation Scheme and is permitted to participate in the Perth and Kinross Council Fund. A separate valuation has been prepared for the portion of the scheme relating to the company. The most recent valuation was carried out at 31 March 2024. 

Perth and Kinross Council are guarantors of any pension liability. Therefore there are no unfunded liabilities.

Principal actuarial assumptions at the Balance sheet date (expressed as weighted averages):

At 31 March 2024
At 31 March 2023
%
%

Discount rate
4.9
4.8

Pension increases
2.9
2.85

Salary increases
3.9
3.85

RPI inflation
3.25
3.2



Page 34

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.Pension commitments (continued)

The company's share of the assets in the scheme was:

At 31 March 2024
At 31 March 2023
£
£

Equities
72
72

Gilts
6
2

Other bonds
7
13

Property
9
10

Cash
6
3

Total fair value of assets
100
100



The amounts recognised in the Statement of financial activities are as follows:

2024
2023
£
£

Current service cost
55,000
86,000

Employer contribution
(39,000)
(37,000)

Other actuarial gain/losses
(25,000)
-

Interest cost on pension scheme
52,000
43,000

Expected return on scheme assets
(205,000)
76,000

Demographic assumptions
(18,000)
-

Experience gain/(loss) on benefit obligation
101,000
120,000

Actuarial gain/(loss)
(10,000)
(816,000)

Total amount recognised in the Statement of financial activities
(89,000)
(528,000)

Page 35

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

18.Pension commitments (continued)

Movements in the present value of the defined benefit obligation were as follows:

2024
2023
£
£

Opening defined benefit obligation
(1,098,000)
(1,668,000)

Current service costs
(55,000)
(86,000)

Interest on scheme assets
(52,000)
(43,000)

Actuarial loss/(gain)
10,000
816,000

Contributions by scheme participants
(14,000)
(14,000)

Benefits paid
40,000
17,000

Experience loss/(gain)
(101,000)
(120,000)

Demographic assumptions
18,000
-

Closing defined benefit obligation
(1,252,000)
(1,098,000)

Movements in the fair value of the company's share of scheme assets were as follows:

2024
2023
£
£

Opening fair value of scheme assets
1,481,000
1,523,000

Expected return on assets
205,000
(76,000)

Other actuarial gains
25,000
-

Employers contributions
39,000
37,000

Contributions by scheme participants
14,000
14,000

Estimate benefit paid
(40,000)
(17,000)

Closing fair value of scheme assets
1,724,000
1,481,000


2024
2023
£
£


Charitable activities
(79,000)
288,000

(79,000)
288,000

The amounts recognised in the balance sheet are as follows:

Page 36

 
PERTH AND KINROSS COUNTRYSIDE TRUST

(A company limited by guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
£
£



Present value of funded obligations
(1,252,000)
(1,098,000)

Fair value of scheme assets
1,724,000
1,481,000

De-recognition of defined pension asset
(472,000)
(383,000)

Deficit
-
-

The estimated employer's contributions for the year to 31 March 2024 are £36,000 (2023- £30,000).

Page 37