Registered number: SC173308
Charity number: SC027481
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
CONTENTS
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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
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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
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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.
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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.
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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.
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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.
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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.
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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.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Achievements and performance (continued)
Financial review
a. Reserves policy
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.
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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
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
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
Statement of Trustees' responsibilities
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:
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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
We have audited the financial statements of Perth and Kinross Countryside Trust (the 'charitable company') for the year ended
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.
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.
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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)
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 report. 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. 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.
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.
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.
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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)
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.
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.
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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)
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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH
Sumer Auditco Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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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
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
REGISTERED NUMBER: SC173308
BALANCE SHEET
AS AT 31 MARCH 2024
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
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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
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 £.
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.
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.
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.
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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)
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.
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.
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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)
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.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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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.
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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.
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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.
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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)
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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)
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PERTH AND KINROSS COUNTRYSIDE TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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