REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31st March 2024 |
for |
ANAGACH WOODS TRUST |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31st March 2024 |
for |
ANAGACH WOODS TRUST |
ANAGACH WOODS TRUST |
Contents of the Financial Statements |
For The Year Ended 31st March 2024 |
Page |
Report of the Trustees | 1 | to | 4 |
Independent Examiner's Report | 5 |
Statement of Financial Activities | 6 |
Balance Sheet | 7 | to | 8 |
Notes to the Financial Statements | 9 | to | 13 |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Report of the Trustees |
For The Year Ended 31st March 2024 |
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 March 2024. 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 |
Purposes |
The charity's Purposes will be delivered in accordance with the principles of sustainable development (where sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs), and are: |
a) To manage community land and associated assets for the benefit of the Community and the public in general, with a particular emphasis, but not exclusively, on the conservation of Scotland's natural heritage and the conservation, restoration and improvement of woodlands in and around Grantown on Spey; |
b) To advance the education of the public generally but particularly the education of young people within the Community concerning the local wildlife, conservation and preservation of the natural and cultural heritage of the area; |
c) To provide, or assist in providing, recreational facilities, and/or organising recreational activities, which will be available to members of the Community and public at large with the object of improving the conditions of life of the Community; |
d) To promote, establish and operate other schemes of a charitable nature for the benefit of the Community. |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Report of the Trustees |
For The Year Ended 31st March 2024 |
Achievement and performance |
Activities |
The Trustees met on 11 occasions during the financial year, including one meeting to consider a request to establish a Parkrun route and another meeting to review the proposed long-term forest plan. The annual general meeting of members was held on 6th November 2023. |
As at the end of the financial year, there were 11 Trustees: nine elected and two co-opted. The Board is satisfied that the Trustees' skills and experience are sufficient to run the Trust effectively and efficiently. In recognition of his long involvement with the woods and his depth of knowledge of pinewood management, Basil Dunlop was appointed as President of the Trust. The Trust is extremely grateful to have continuing access to his considerable expertise. |
One of the principal work streams during the financial year has been the preparation of an Urban Woodland Management Plan (long-term forest plan). Early in the financial year, a tender was issued for professional assistance to prepare the plan. Thereafter, supported by consultants from the Community Woodlands Association, consultation events were held to identify issues to be addressed. The plan was then drafted and, after consideration by Scottish Forestry, was published for stakeholder feedback. Following further amendment, the plan was submitted to Scottish Forestry for approval under the Forestry Grant Scheme. Shortly after the end of the financial year, the plan and grant application were approved. |
Agreement has been reached with the Strathspey Curling Club for the use of its clubhouse and store for Trust meetings and as a base for volunteering activities in the woods. The Trust welcomes this collaboration and looks forward to a mutually beneficial relationship. |
In response to various requests, the Trust has prepared policies on scattering of ashes and placement of memorial benches. Also, as a matter of good governance, a Register of Trustees' Interests and Conflict of Interest Policy has been prepared. Following two small fires, which were fortuitously contained to very small areas, the Board has been considering measures to raise public awareness of wildfire danger and to mitigate the risk of fire in the woods. The Trust will liaise with Cairngorms National Park Authority over the integration of fire planning across the park and will develop a fire prevention plan. |
Considerable efforts have been made during the financial year to improve communication with members, with the community and with visitors. Membership records have been overhauled and information about the Trust's activities has regularly been posted on social media. This has also provided opportunities to publicise information about a variety of volunteering activities which are helping to address the backlog of maintenance work. New signage has been erected, path work has been carried out, invasive species are being removed. Dilapidated way markers have been identified and will be replaced in due course to assist visitors to find their way around the woods. As set out in the long-term plan, work has begun to restructure the woods to provide a wider range of habitats for several rare pinewood species. This is being achieved through creation of standing and fallen deadwood and the formation of more ponds to create open standing water. This has the additional benefit of raising the water table in places which may improve the resilience of the woods to rising temperatures and fire. |
Fortunately, the woods suffered relatively little storm damage with only sporadic tree loss in the main part of the wood. However, several trees were blown down near the waste water treatment works in Kylintra Wood. The Board is conscious of the need to monitor dead and dangerous trees close to public roads and the promoted footpaths. Investigations are being made to source suitable training so that a systematic record can be created of any trees requiring attention. A local contractor was engaged to fell some dead elm trees near Spey Avenue. |
During the financial year, the Trustees have continued to work with Plantlife Scotland to diversify the genetic mix of twinflower patches in the woods. We have supported the Royal Zoological Society of Scotland Pine Hoverfly Project by providing sites for re-introduction of hoverfly larvae. We await the outcome of this work with interest. We have also assisted the Capercaillie Project work which has been monitoring the numbers of birds and seeking to protect those remaining through promotion of the "Lek it Be" campaign. As at the end of the financial year, plans were being drawn up for a major upgrade of the mountain bike skills area in Free Church Wood. |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Report of the Trustees |
For The Year Ended 31st March 2024 |
We are maintaining our practice of issuing consents to various groups and organisations for a variety of formal and informal activities to try to ensure that the unique qualities of the woods are safeguarded and that the potential for any conflict between different users is minimised. This has allowed us to agree to events ranging from orienteering to spoon carving and outdoor school work. |
Investment performance |
The trustees are satisfied with the current policy of holding reserve funds in an investment account. This account is reviewed at least annually in an effort to achieve an optimum rate of interest. However, the trustees will seek opportunities to improve the returns obtained. |
Financial review |
Financial position |
The accounts show a net excess of expenditure over income for the financial year. This was anticipated in light of the increased activity levels during year and the cash flow timing relating to the costs of preparing the long-term forest plan; which will be covered by a grant in due course. |
Bank interest received increased, reflecting better interest rates payable on the Trust's savings in an investment account. Donations fell in comparison to 2022-23 but action has been taken to access a wider range of fund raising sources and these are now bearing fruit. |
The major expenditure has been the first instalment of the costs of the preparation of the long-term forest plan. However, we have also begun to acquire a stock of hand tools for volunteers' use during work parties. Insurance costs fell during the year but governance costs increased, mainly due to pre-payment for the use of the Curling Club premises. |
Overall, the Trustees consider that a stable financial position has been maintained. It has been the Trust's policy to maintain reserves of at least six months' expenditure. In view of the greater general level of activity, and the commitment to carry out works identified in the long-term plan, the reserves policy is being reviewed and will be updated in the financial year 2024 - 25. |
Reserves policy |
It is the Trust's policy that a reserve of unrestricted funds equivalent to 6 months' expenditure should be maintained in order for the Trust to continue functioning during any period of reduced income. The trustees have maintained this level of reserve. |
Structure, governance and management |
Governing document |
The Trust is a company limited by guarantee, as defined by the Companies Act 2006, and is registered as a charity. The Board continues to explore the possibility for changing the Trust's status to a Scottish Charitable Incorporated Organisation. This would not affect the members' liabilities or the charitable nature of the Trust but has potential to simplify the regulatory obligations and general administration of the Trust. |
Reference and administrative details |
Registered Company number |
Registered Charity number |
Registered office |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Report of the Trustees |
For The Year Ended 31st March 2024 |
Trustees |
Independent Examiner |
Lorna Drummond FCCA |
Goldwells |
15-17 High Street |
Kingussie |
Inverness-Shire |
PH21 1HS |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Anagach Woods Trust |
I report on the accounts for the year ended 31st March 2024 set out on pages six to thirteen. |
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. |
Lorna Drummond FCCA |
The Association of Chartered Certified Accountants |
Goldwells |
15-17 High Street |
Kingussie |
Inverness-Shire |
PH21 1HS |
26th September 2024 |
ANAGACH WOODS TRUST |
Statement of Financial Activities |
For The Year Ended 31st March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
Income and endowments from |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
Expenditure on |
Raising funds |
Charitable activities |
Support costs | 2,154 | - | 2,154 | 2,525 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Reconciliation of funds |
Total funds brought forward |
Total funds carried forward | 1,045,295 |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 6 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
NET ASSETS |
Funds | 8 |
Unrestricted funds | 65,895 |
Restricted funds | 979,400 |
Total funds | 1,045,295 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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. |
ANAGACH WOODS TRUST (REGISTERED NUMBER: SC227929) |
Balance Sheet - continued |
31st March 2024 |
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 |
ANAGACH WOODS TRUST |
Notes to the Financial Statements |
For The Year Ended 31st March 2024 |
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. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Land | - |
Office equipment | - |
Equipment | - |
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. |
ANAGACH WOODS TRUST |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2024 |
2. | Donations and legacies |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
North Highlands Climate Action Fund | 500 | - |
3. | Other trading activities |
2024 | 2023 |
£ | £ |
Fundraising events |
Miscellaneous income | - | 200 |
4. | Investment income |
2024 | 2023 |
£ | £ |
SSE Wayleave income | - | 43 |
Bank and other interest |
5. | Trustees' remuneration and benefits |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
ANAGACH WOODS TRUST |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2024 |
6. | Tangible fixed assets |
Office |
Land | equipment | Equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1st April 2023 |
Additions |
At 31st March 2024 |
Depreciation |
At 1st April 2023 and 31st March 2024 |
Net book value |
At 31st March 2024 |
At 31st March 2023 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Accrued expenses |
8. | Movement in funds |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 65,895 | (5,143 | ) | 60,752 |
Restricted funds |
Anagach Woods | 979,400 | - | 979,400 |
TOTAL FUNDS | (5,143 | ) | 1,040,152 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 2,106 | (7,249 | ) | (5,143 | ) |
Restricted funds |
Restricted fund | 500 | (500 | ) | - |
TOTAL FUNDS | ( |
) | (5,143 | ) |
ANAGACH WOODS TRUST |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2024 |
8. | Movement in funds - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 67,629 | (1,734 | ) | 65,895 |
Restricted funds |
Anagach Woods | 979,400 | - | 979,400 |
TOTAL FUNDS | 1,047,029 | (1,734 | ) | 1,045,295 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 3,246 | (4,980 | ) | (1,734 | ) |
TOTAL FUNDS | 3,246 | (4,980 | ) | (1,734 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 67,629 | (6,877 | ) | 60,752 |
Restricted funds |
Anagach Woods | 979,400 | - | 979,400 |
TOTAL FUNDS | 1,047,029 | (6,877 | ) | 1,040,152 |
ANAGACH WOODS TRUST |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2024 |
8. | Movement in funds - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 5,352 | (12,229 | ) | (6,877 | ) |
Restricted funds |
Restricted fund | 500 | (500 | ) | - |
TOTAL FUNDS | 5,852 | (12,729 | ) | (6,877 | ) |
9. | Related party disclosures |