REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
THE BUCCLEUCH CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
THE BUCCLEUCH CENTRE |
THE BUCCLEUCH CENTRE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 18 |
THE BUCCLEUCH CENTRE (REGISTERED NUMBER: SC281827) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The principal objectives of the company are: |
- To develop the Buccleuch Centre as a multi-purpose civic amenity which provides high quality facilities for artistic, social, community and educational purposes; |
- To improve the quality of life in Langholm through attending or participating in arts events; |
- To organise an all-year-round programme of performances, events, workshops, films, talks, seminars, etc. by local and national companies; |
- To encourage the youth of the Langholm area to make use of the facilities, organise and take part in classes and workshops and attend events targeted at them as an audience. |
Volunteers |
During normal trading the Centre operates with 5 part-time members of staff and a pool of bar staff who work as required but the vast majority of activities are supported or undertaken by volunteers. |
The total number of volunteers stands at around 50. Activities undertaken by volunteers includes duty management, manning the ticket office, performing front of house duties at shows, table setting in restaurant and assisting in the coffee shop as well as being actively involved in the maintenance and enhancement of the centre. Without these volunteers the centre would be unable to operate successfully. |
ACHIEVEMENT AND PERFORMANCE |
The charity was formally set up in 2005 and brought together individuals and groups with an interest in the well being of the Langholm community. Together they raised over £1,500,000 to create the Buccleuch Centre as a multi-purpose civic amenity. |
The Centre opened in February 2007 and has held live music and arts events on a regular basis since then. The Centre has also been used for weddings, dinners, dances, cinema screenings, elections, meetings, training seminars and other events which are at the heart of community life in Langholm. |
Events are promoted by way of brochures as well as advertisement of planned events on the charity's website, via social media and through regular email communications to our user database. The Centre's facilities and activities continue to impress our visitors and far exceed the expectations of this type of facility in a community the size of Langholm. |
FINANCIAL REVIEW |
Financial position |
During the year, income of £222,000 was received. Expenditure totalled £333,100, which includes a depreciation charge of £73,364. Total reserves at 31st December 2023 stood at £526,481 of which £178,245 relates to unrestricted funds and £348,236 restricted funds. |
THE BUCCLEUCH CENTRE (REGISTERED NUMBER: SC281827) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FINANCIAL REVIEW |
Reserves policy |
The trustees have targeted cash reserves to be in the range of £75,000 and £100,000 at any one time as the cash position will fluctuate during the year. The cash balance is comprised of: |
- Monies received in advance of performances |
- Monies held from Supporters contributions where expenditure is agreed between Supporters and Trustees. This expenditure is generally of a capital nature. |
- General cash retained. |
The cash reserves should allow the Centre to continue operating for a minimum of 6 months in the event of the current income streams all ceasing and not being replaced. |
At present, it is strongly acknowledged the free level of unrestricted reserves falls short of the target amount set by the trustees. The policy remains to strengthen unrestricted reserves where possible although this is impacted by the economic environment at the time. |
FUTURE PLANS |
The trustees continue to consider how the Centre will operate in future as the impact of rising costs continue to hold. The trustees continue to source core operational funding to support its running costs. |
In addition, ongoing and future plans to sustain and expand the centre's operations include: |
- Increase the usage of the Centre as a venue for conferences and meetings |
- Increased use of the North foyer for smaller events |
- Improve the use of the Centre by young people and children |
- Continue to improve footfall and income from cafe |
- Identifying best usage of social media to promote all aspects of the Centre's activities |
- Incentivise the management team to focus on the key areas of operation that will protect the long term future of the Centre. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
Trustees are normally appointed after having served at least a year as a volunteer for the charity so they know more about the organisation and procedures. |
Organisational structure |
The board of Trustees is comprised of a mixture of individuals who have been involved in the operation of the centre for many years, retired professionals who have an active involvement in the day-to-day operations of the centre and other working professionals who bring strong experience in areas such as Corporate Governance, Finance and Health & Safety. As a result of this mix of skills and experience we have a broad and strong board of Trustees. |
The board of trustees meet around every 8 weeks with a member of the management team usually in attendance. In light of the ongoing financial situation, the Board have also re-established the Finance subgroup to have a closer financial oversight and reporting. |
THE BUCCLEUCH CENTRE (REGISTERED NUMBER: SC281827) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
JRW Hogg & Thorburn LLP |
Chartered Accountants |
19 Buccleuch Street |
Hawick |
Roxburghshire |
TD9 0HL |
Solicitors |
Turcan Connell |
Princes Exchange |
1 Earl Grey Street |
Edinburgh |
EH3 9EE |
Bankers |
Royal Bank of Scotland |
151 High Street |
Dumfries |
DG1 2RA |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
THE BUCCLEUCH CENTRE |
I report on the accounts for the year ended 31st December 2023 set out on pages five to eighteen. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. |
Independent examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Joanne Gibson |
The Institute of Chartered Accountants of Scotland |
JRW Hogg & Thorburn LLP |
Chartered Accountants |
19 Buccleuch Street |
Hawick |
Roxburghshire |
TD9 0HL |
20th September 2024 |
THE BUCCLEUCH CENTRE |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 5 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds |
Raising donations and legacies | 6 | 2,125 | - | 2,125 | 2,125 |
Other trading activities | 7 | 53,908 | 396 | 54,304 | 38,417 |
Charitable activities | 8 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 637,581 |
THE BUCCLEUCH CENTRE (REGISTERED NUMBER: SC281827) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 14 |
CURRENT ASSETS |
Stocks | 15 |
Debtors | 16 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 17 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 19 |
Unrestricted funds | 223,112 |
Restricted funds | 414,469 |
TOTAL FUNDS | 637,581 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
THE BUCCLEUCH CENTRE (REGISTERED NUMBER: SC281827) |
BALANCE SHEET - continued |
31ST DECEMBER 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern assessment |
The trustees have considered the current financial situation and continue to monitor closely. The trustees are satisfied that the Centre has a plan for growth, sufficient support from third parties and cash reserves to meet all financial obligations for the foreseeable future. The accounts have therefore been based on the going concern basis. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Donations and legacies |
Donations are recognised when they are received and when any conditions attached thereto have been fulfilled. |
Grants receivable |
Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the charity 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. |
Charitable Activities |
Ticket sales are recognised when the performance has taken place. Income received in advance of a theatrical performance or provision of other specified service is deferred until the criteria for income recognition are met. |
Investment income |
Interest receivable on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Irrecoverable VAT is charged against the expenditure heading for which it was incurred. |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
Allocation and apportionment of costs |
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities The charity identify the costs which relate to its support functions and then identify those which relate to the governance function. Having identified its governance costs, the remaining support costs together with governance are apportioned to the key charitable activities undertaken in the year. |
Depreciation |
Depreciation is calculated so as to write off the cost of the fixed assets less estimated residual value over their estimated useful life, commencing when the asset is brought into use. |
Tenants Improvements - | over period of lease |
Equipment, etc. - | 20% straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Donated services and facilities |
Donated professional services and donated facilities are recognised as income when the charity has control over them, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised. More information on volunteers contribution to the charity is detailed in the Report of the Trustees. |
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain the services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. |
Financial assets |
Basic financial assets, including trade and other debtors and bank balances, are initially recognised at transaction price. |
At the end of each reporting period financial assets measured at cost are assessed for evidence of impairment. Any impairment loss is recognised in the Statement of Financial Activities. |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | ACCOUNTING POLICIES - continued |
Financial assets |
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. These are classed as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations and grants |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Bar takings |
Cafe takings |
Other income | 1,859 | 3,947 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Investment income |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
5. | INCOME FROM CHARITABLE ACTIVITIES |
2023 | 2022 |
Activity | £ | £ |
Ticket sales | Operation of theatre and venue | 81,182 | 65,814 |
Room hire | Operation of theatre and venue | 32,324 | 26,076 |
6. | RAISING DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Staff costs |
7. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Purchases |
Staff costs | 23,566 | 18,020 |
Bar & cafe expenses | 11,201 | 8,094 |
54,304 | 38,417 |
8. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 9) | Totals |
£ | £ | £ |
Operation of theatre and venue | 244,106 | 32,565 | 276,671 |
9. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Operation of theatre and venue | 22,315 | 10,250 | 32,565 |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
10. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Accountancy Fee | 10,250 | 8,300 |
Depreciation - owned assets |
11. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022. |
12. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Average Number of Employees |
The key management personnel of the charitable company comprise the trustees, the general manager and the programming manager. None of the trustees were remunerated for their duties as trustees during the year. The total employee benefits of the key management personnel of the charitable company during the year were £44,630 (2022, £40,962). |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
13. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Raising donations and legacies | 2,125 | - | 2,125 |
Other trading activities | 38,417 | - | 38,417 |
40,542 | - |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 230,975 | 481,460 |
TOTAL FUNDS CARRIED FORWARD |
223,112 |
414,469 |
637,581 |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
14. | TANGIBLE FIXED ASSETS |
Tenants | Equipment, |
improvements | etc. | Totals |
£ | £ | £ |
COST |
At 1st January 2023 |
Additions |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
15. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
VAT | 1,854 | 3,085 |
Other creditors |
Ticket sales received in advance | 4,183 | 5,731 |
18. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
£ | £ | £ | £ |
Fixed assets | 162,560 | 320,242 | 482,802 | 551,459 |
Current assets |
Current liabilities | ( |
) | ( |
) | ( |
) |
178,245 | 348,236 | 526,481 | 637,581 |
19. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 223,112 | (44,867 | ) | 178,245 |
Restricted funds |
Buccleuch Centre Improvements | 265,705 | (58,556 | ) | 207,149 |
The Studio | 115,849 | (7,278 | ) | 108,571 |
Sounds Brighter Project | 15,269 | (2,192 | ) | 13,077 |
Community Regeneration Fund 2 | 9,736 | (1,324 | ) | 8,412 |
Sound & Technical Upgrade | 3,980 | (1,219 | ) | 2,761 |
Outdoor area development | 1,430 | (1,430 | ) | - |
The Holywood Trust | 2,500 | (2,000 | ) | 500 |
Crossdykes Community Benefits Ltd | - | 4,961 | 4,961 |
BGS Cayzer Charitable Trust | - | 2,805 | 2,805 |
(66,233 | ) |
TOTAL FUNDS | (111,100 | ) | 526,481 |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 203,746 | (248,613 | ) | (44,867 | ) |
Restricted funds |
Buccleuch Centre Improvements | - | (58,556 | ) | (58,556 | ) |
The Studio | - | (7,278 | ) | (7,278 | ) |
Sounds Brighter Project | - | (2,192 | ) | (2,192 | ) |
Community Regeneration Fund 2 | - | (1,324 | ) | (1,324 | ) |
Sound & Technical Upgrade | - | (1,219 | ) | (1,219 | ) |
Outdoor area development | - | (1,430 | ) | (1,430 | ) |
The Holywood Trust | 7,500 | (9,500 | ) | (2,000 | ) |
Crossdykes Community Benefits Ltd | 7,154 | (2,193 | ) | 4,961 |
BGS Cayzer Charitable Trust | 3,600 | (795 | ) | 2,805 |
( |
) | (66,233 | ) |
TOTAL FUNDS | ( |
) | (111,100 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.1.22 | in funds | funds | 31.12.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 230,975 | (7,863 | ) | - | 223,112 |
Restricted funds |
Buccleuch Centre Improvements | 324,263 | (58,557 | ) | - | 265,706 |
The Studio | 123,127 | (7,278 | ) | - | 115,849 |
Theatre Lighting Project | 500 | - | (500 | ) | - |
Sounds Brighter Project | 17,461 | (2,192 | ) | - | 15,269 |
Community Regeneration Fund 2 | 11,588 | (1,852 | ) | - | 9,736 |
DECBG Funding | 4,521 | (4,521 | ) | - | - |
Sound & Technical Upgrade | - | 3,480 | 500 | 3,980 |
Outdoor area development | - | 1,429 | - | 1,429 |
The Holywood Trust | - | 2,500 | - | 2,500 |
481,460 | (66,991 | ) | - | 414,469 |
TOTAL FUNDS | 712,435 | (74,854 | ) | - | 637,581 |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
19. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 184,845 | (192,708 | ) | (7,863 | ) |
Restricted funds |
Buccleuch Centre Improvements | - | (58,557 | ) | (58,557 | ) |
The Studio | - | (7,278 | ) | (7,278 | ) |
Sounds Brighter Project | - | (2,192 | ) | (2,192 | ) |
Community Regeneration Fund 2 | - | (1,852 | ) | (1,852 | ) |
DECBG Funding | - | (4,521 | ) | (4,521 | ) |
Sound & Technical Upgrade | 5,000 | (1,520 | ) | 3,480 |
Outdoor area development | 3,000 | (1,571 | ) | 1,429 |
The Holywood Trust | 2,500 | - | 2,500 |
10,500 | (77,491 | ) | (66,991 | ) |
TOTAL FUNDS | 195,345 | (270,199 | ) | (74,854 | ) |
Buccleuch Centre Improvements, The Studio and Sounds Brighter Project funds all relate to grants received in respect of capital projects. |
Community Regeneration Fund 2 - to support various centre costs following post COVID lockdown period. |
DECBG - awarded to support marketing and distribution costs. |
Sound and Technical Upgrade - relates to the supply and installation of new audio equipment. |
Outdoor area development - improvements to the outdoor space at the centre. |
The Holywood Trust - awarded to support marketing budget and employment of a marketing co-ordinator. |
Crossdykes Community Benefits Ltd - awarded to purchase new equipment for the centre. |
BGS Cayzer Charitable Trust - awarded towards the cost of installation of new CCTV system. |
THE BUCCLEUCH CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
20. | OTHER FINANCIAL COMMITMENTS |
The company entered into a 25 year lease for The Buccleuch Centre at Buccleuch Place, Langholm with Dumfries & Galloway Council which commenced March 2005. |
The company entered into a 25 year lease for the Studio at Maxwell Place, Langholm with Eskvale Properties Limited which commenced March 2013. |
21. | RELATED PARTY DISCLOSURES |