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REGISTERED COMPANY NUMBER: SC538942 (Scotland)
REGISTERED CHARITY NUMBER: SC049400














Report of the Trustees and

Financial Statements For The Year Ended 31 March 2024

for

Old Luce Development Trust

Old Luce Development Trust






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Statement of Financial Position 8 to 9

Notes to the Financial Statements 10 to 15

Old Luce Development Trust (Registered number: SC538942)

Report of the Trustees
For The Year Ended 31 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 31 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
Objectives and aims
- The advancement of community development, including the advancement of rural regeneration
- The provision of recreational facilities, or the organisation of recreational activities, with the object of improving the conditions of life for the persons for whom facilities or activities are primarily intended
- The advancement of citizenship, as a sub-set within the wider charitable purpose of the advancement of community development
- The advancement of enviromental protection or enviromental improvement
- The advancement of the arts, heritage, culture or sciences


Old Luce Development Trust (Registered number: SC538942)

Report of the Trustees
For The Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Dunragit Community Hub

In early 2023, a new site was identified with the aim of installing a log-cabin-style building to serve as a community hub. A successful application was made to the Coastal Benefit Fund for £80,000 towards the purchase and development of this site, with remaining funding from the OLCF block grant as match funding.

The site was purchased in August 2023, planning permission granted in January 2024 and an archaeological survey carried out in March 2024. At year end, the Trust is working through technical design for building warrant and civil engineering, such as utilities connections, and finalising the cabin specification, with the site expected to be up and running in the next financial year. A second phase will complete within 12 months of opening to include landscaping, archaeological displays based on the significant findings in the area, and consideration of solar panel installation to reduce running costs.

Brambles

At the start of this period, the project had been put on hold due to a combination of; the lack of availability of the sub-committee to meet, both with each other and with the design team; uncertainty about early designs; and, concern about escalating costs. In this financial period, the Trust appointed a new design team, led by ARPL, to take the project forward with confidence in the new team to deliver the project and contain costs.

Following a request from the community to consider reverting to the original plan for Brambles to reopen as a café / restaurant, the Trust explored this option with the new design team and those with hospitality experience. However, there was concern, based on support for the previous village café, that there would be insufficient support for a sustainable number of covers and, further, the number of covers needed for a café / restaurant to be sustainable was not possible to achieve within the building envelope.

Multiple options for the redevelopment of this building were considered. The Trust did not want to lose a potential commercial space on the main street, which ruled out conversion to housing. Other options would have competed with other businesses in the area, potentially putting them at risk. It was agreed that the Trust would revert back to it's former plan to repurpose the building into two holiday accommodation studio rooms on the upper floor and a flexible commercial space on the ground floor, albeit with a new, simplified design. This design will be taken to RIBA stage 3, planning permission submission in the first quarter of the next financial year.

Glenluce Public Hall

Following threat of closure in 2018, the Trust took on a Management Agreement with Dumfries & Galloway Council for Glenluce Public Hall. It was intended that, during this initial two-year management period, the Trust could develop plans towards eventual community ownership of the hall. Six years on, the Trust is no further forward in handing over management of the hall to an independent management committee. The Trust is hugely appreciative of the dedicated volunteers who help run our hall through our Friends of the Hall volunteer group. However, numbers have dwindled to a small group, whose available time is almost completely taken up by the running of the community shop. SFBF (Covid) grants have funded the running of the hall since the pandemic, but the remainder of these funds have had to be diverted to reserves given a lack of alternative options to build up reserves. The hall is now funded from our OLCF block grant, but it remains very underused, with several smaller venues nearby offering a lower cost alternative.

Meanwhile, costs of running the hall have increased due to increased energy bills, additional cleaning post Covid and changes in legislation that now requires the Trust to pay non-domestic rates on the hall. The Council retains responsibility for various aspects of the hall, including external repairs, and these have not been carried out in a timely manner, resulting in a deterioration in the hall's internal decoration. At the end of this financial year, the Trust board recognises that active intervention is required to increase the use of the hall and encourage additional volunteers. In the next financial year, the Trust will be seeking funding to engage an employee to actively put on events and activities in the hall and the wider area, rather than relying on third party providers to book the hall.

Balkail Glen and the Natural Environment


Old Luce Development Trust (Registered number: SC538942)

Report of the Trustees
For The Year Ended 31 March 2024

Our Friends of the Glen (FotG) group have continued to take care of the Glen this year, tree planting, invasive species clearing and litter picking with the very welcome help of Glenluce Primary School. More substantial work in the Glen is undertaken by the Trust's contracted arborist, who monitors dangerous trees and takes preventative action when required.

Work to repair fencing on the southern boundary has commenced with a survey of the existing fence line. The neighbouring land owner has kindly agreed that the replacement fence can be placed further on to his land which will allow a better path and easier maintenance of paths and fencing and the survey will give us an accurate record of the land boundary.

Christmas Lights

The Trust organises the installation of Christmas light displays in Dunragit and Glenluce. Switch on events are held each year organised by Old Luce Community Council.

Industrial Estate

The Trust took ownership of the Woodside Industrial Estate and Units on 15 March 2022 under the Community Asset Transfer process to provide a source of income, increasing the financial sustainability of the Trust and allowing cross-subsidy to other community projects. It was also an opportunity to improve the built environment as the units had had little maintenance under previous ownership.

Following the vacating of the site by previous tenants, the Trust has undertaken a series of improvements, including rewiring, recladding and external doors. This refurbishment is close to completion at year end. The front two units have been re-let to Mathers dairies, whose lease commenced in February, and discussions with a potential tenant for the rear two units were in the advanced stages.

Glenluce Healthy Living Campus

A grant of £137,003 has been awarded by Old Luce Community Fund to develop the new GP surgery to RIBA stage 3, submission of planning permission. Community-Led Economic Regeneration Fund (CLERF) funding of £34,596 was secured from the Scottish Government, via Dumfries and Galloway Council, to also take the housing part of the project to submission of planning permission. However, an independent report on funding options failed to identify a viable funding option for the construction of the surgery element of this project, which is anticipated to be c£3.8 million in order to build to a specification that would be meet NHS requirements. A second opinion on funding options, kindly carried out free of charge from an experienced local volunteer, also came to the conclusion that there were no current viable funding options. Whilst many funders saw the merit in the project, it fell outside the scope of their funding.

The Trust felt that it would be irresponsible to proceed with the design team work, which would cost over £170,000, without any identified potential funders for the construction of the building. The Trust continues to monitor new funding sources for a potential match for capital funding for the project.

Village Square

The Village Square was successfully opened in 2022 and annual maintenance is now ongoing. The square was short-listed for a Scottish Civic Trust My Place aware in the April 2023 awards.

FINANCIAL REVIEW
Financial position
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The income of the charity for the year was £452,318 as compared to £295,036 the previous year. Overall the charity had a surplus of £307,246 (2023: £190,942), this includes a surplus on restricted funds of £308,349 (2023: £32,219).


Old Luce Development Trust (Registered number: SC538942)

Report of the Trustees
For The Year Ended 31 March 2024

FUTURE PLANS
In the next year, the Dunragit Community Hub will be built, installed on site and brought into use. A second phase of the Dunragit Community Hub will commence after opening to include landscaping, archaeological displays based on the significant findings in the area, and consideration of solar panel installation to reduce running costs.

Brambles initial design of repurposing the building into two holiday accommodation studio rooms and a flexible commercial space will be taken to RIBA stage 3, planning permission submission in the first quarter of the next financial year.

Discussions with a potential tenant for the rear two units of the Industrial Estate were in the advanced stages and we are hopeful a lease will commence, if this fails we will continue to advertise for new tenants.

The Trust continues to monitor new funding sources for a potential match for capital funding for the Glenluce Healthy Living Campus.

The trust will continue to manage ongoing projects including the Glen, public hall, village square and Christmas lights.

STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trustees are the Directors of the Trust and may be a Member Director, drawn from the membership of the company, or a Co-opted Director, a non-member director appointed or re-appointed by the Directors. The maximum number of Director positions within the Trust, which are all voluntary positions, is eleven. During this financial period, all of these positions were filled. All eleven Directors may be Member Directors and no more than three shall be Co-opted Directors. The minimum number of Directors shall be five, of whom a majority must be Member Directors.

In advance of each annual general meeting, the Trust invites nominations for Directors at the same time as publicizing the meeting. Whilst nominees must be members of the Trust, they may join at the same time as the nomination is submitted. Nominations may also be taken from the floor at the annual general meeting. Members then elect Directors from the nominations, by ballot where there are more nominations than vacancies, at the annual general meeting. The Directors may at any time appoint any member willing to act to be a Director. A Co-opted Director may be appointed either on the basis that he/she has been nominated by a body with which the company has close contact in the course of its activities, or on the basis that he/she has specialist experience and/or skills which could be of assistance to the Directors. The Trust currently has one Co-opted Director, who volunteered to fill a vacant position immediately following the Trust's AGM in 2022, but was not voted in by members.As she was unable to attend the 2023 AGM, it was agreed at the AGM that she would remain co-opted for another year.

At each annual general meeting, any Member appointed by the Directors and any Co-Opted Director retires from office and, out of the remaining Member Directors, three retire from office. The Directors to retire shall be those who have been longest in office since they were last elected or re-elected. A Director who retires from office shall be eligible for re-election.

The Directors elect from among themselves a Chair and a Treasurer, and such other office bearers as they consider appropriate. All office bearers cease to hold office at the conclusion of each annual general meeting, but are then eligible for re-election. Currently the Trust has a Chair, Treasurer and Vice Chair. There is also a Director with specific responsibility for HR matters and a Director specifically responsible for matters relating to the village hall. Any Directors may also take the lead on specific projects within the Trust and this is determined at monthly Directors' meetings. The Trust has sub-committees for each project, where each subcommittee is formed of the Lead Director and two or three other Directors, in order to speed up decision-making. Sub-committees are authorised to make decisions and report to the next board meeting, but major decisions remain with the full board.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding up.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC538942 (Scotland)

Registered Charity number
SC049400


Old Luce Development Trust (Registered number: SC538942)

Report of the Trustees
For The Year Ended 31 March 2024

Registered office
Public Hall 22 Main Street
Glenluce
Newton Stewart
Wigtownshire
DG8 0PR

Trustees
N J Douglas (appointed 27.9.23)
C Garrity
M C Lane
D Lowe
J L Plunkett
R A Rankin
C D Thomson
W Cameron (appointed 27.9.23)
A McCallum
L McDowall
S V T Newton
J McClung (resigned 27.9.23)
A R Sloan (resigned 31.5.23)

Company Secretary
M C Lane

Independent Examiner
Janice Alexander CA
Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Approved by order of the board of trustees on 7 October 2024 and signed on its behalf by:





M C Lane - Trustee

Independent Examiner's Report to the Trustees of
Old Luce Development Trust

I report on the accounts for the year ended 31 March 2024 set out on pages seven to fifteen.

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.








Janice Alexander CA
The Institute of Chartered Accountants of Scotland

Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

8 October 2024

Old Luce Development Trust

Statement of Financial Activities
For The Year Ended 31 March 2024

2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 53,793 380,683 434,476 258,389

Charitable activities
Charitable activities
2,486 - 2,486 3,063

Other trading activities 2 15,356 - 15,356 28,584
Other income - - - 5,000
Total 71,635 380,683 452,318 295,036

EXPENDITURE ON
Raising funds - - - -

Charitable activities
Charitable activities
72,738 72,334 145,072 104,094
Total 72,738 72,334 145,072 104,094

NET INCOME/(EXPENDITURE) (1,103 ) 308,349 307,246 190,942


RECONCILIATION OF FUNDS
Total funds brought forward 891,565 232,004 1,123,569 932,627

TOTAL FUNDS CARRIED FORWARD 890,462 540,353 1,430,815 1,123,569

Old Luce Development Trust (Registered number: SC538942)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 6 295,412 227,643
Investment property 7 556,884 556,884
852,296 784,527

CURRENT ASSETS
Debtors 8 13,387 1,647
Cash at bank and in hand 625,000 345,746
638,387 347,393

CREDITORS
Amounts falling due within one year 9 (59,868 ) (8,351 )

NET CURRENT ASSETS 578,519 339,042

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,430,815

1,123,569

NET ASSETS 1,430,815 1,123,569
FUNDS 11
Unrestricted funds 890,462 891,565
Restricted funds 540,353 232,004
TOTAL FUNDS 1,430,815 1,123,569

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.


Old Luce Development Trust (Registered number: SC538942)

Statement of Financial Position - continued
31 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 7 October 2024 and were signed on its behalf by:





M C Lane - Trustee

Old Luce Development Trust

Notes to the Financial Statements
For The Year Ended 31 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.


Fixtures and fittings - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial 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.

2. OTHER TRADING ACTIVITIES
2024 2023
£    £   
GP surgery rental income 9,150 9,150
Industrial Est rental income 5,860 19,434
Sundry income 346 -
15,356 28,584


Old Luce Development Trust

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

3. NET INCOME/(EXPENDITURE)

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

2024 2023
£    £   
Depreciation - owned assets 1,171 1,463
Surplus on disposal of fixed assets - (5,000 )

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 52,122 206,267 258,389

Charitable activities
Charitable activities
3,063 - 3,063

Other trading activities 28,584 - 28,584
Other income 5,000 - 5,000
Total 88,769 206,267 295,036

EXPENDITURE ON
Raising funds (3,062 ) 3,062 -

Charitable activities
Charitable activities
98,864 5,230 104,094
Total 95,802 8,292 104,094

NET INCOME/(EXPENDITURE) (7,033 ) 197,975 190,942
Transfers between funds 144,386 (144,386 ) -
Net movement in funds 137,353 53,589 190,942

RECONCILIATION OF FUNDS
Total funds brought forward 732,843 199,784 932,627


Old Luce Development Trust

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund funds funds
£    £    £   
TOTAL FUNDS CARRIED FORWARD 870,196 253,373 1,123,569

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 221,787 8,150 229,937
Additions 68,940 - 68,940
At 31 March 2024 290,727 8,150 298,877
DEPRECIATION
At 1 April 2023 - 2,294 2,294
Charge for year - 1,171 1,171
At 31 March 2024 - 3,465 3,465
NET BOOK VALUE
At 31 March 2024 290,727 4,685 295,412
At 31 March 2023 221,787 5,856 227,643

7. INVESTMENT PROPERTY
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 556,884
NET BOOK VALUE
At 31 March 2024 556,884
At 31 March 2023 556,884

Investment property comprises of the GP surgery £268,692 and land at the rear of the surgery £38,192 and the Industrial Estate £250,000. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.


Old Luce Development Trust

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 668 1,141
VAT 12,719 506
13,387 1,647

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 45,798 6,851
Social security and other taxes 567 -
Other creditors 1,003 -
Accrued expenses 12,500 1,500
59,868 8,351

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
£    £    £    £   
Fixed assets 226,472 68,940 295,412 227,643
Investments 556,884 - 556,884 556,884
Current assets 166,974 471,413 638,387 347,393
Current liabilities (59,868 ) - (59,868 ) (8,351 )
890,462 540,353 1,430,815 1,123,569

11. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
Unrestricted funds 891,565 (1,103 ) 890,462

Restricted funds
Dunragit Hub 49,776 90,832 140,608
Brambles 113,340 254,314 367,654
Christmas Lights 5,806 3,511 9,317
Glen & Natural Environment 16,578 (10,231 ) 6,347
Industrial Estate 44,318 (29,555 ) 14,763
Village Square 2,186 (522 ) 1,664
232,004 308,349 540,353
TOTAL FUNDS 1,123,569 307,246 1,430,815

Old Luce Development Trust

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

11. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
Unrestricted funds 71,635 (72,738 ) (1,103 )

Restricted funds
Dunragit Hub 105,850 (15,018 ) 90,832
Brambles 261,271 (6,957 ) 254,314
Christmas Lights 4,706 (1,195 ) 3,511
Glen & Natural Environment 5,826 (16,057 ) (10,231 )
Industrial Estate 2,000 (31,555 ) (29,555 )
Village Square 1,030 (1,552 ) (522 )
380,683 (72,334 ) 308,349
TOTAL FUNDS 452,318 (145,072 ) 307,246


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
Unrestricted funds 732,843 14,336 144,386 891,565

Restricted funds
Dunragit Hub - 31,800 17,976 49,776
Brambles 6,221 110,918 (3,800 ) 113,339
Christmas Lights 1,479 8,462 (4,135 ) 5,806
Friends of the Glen 281 - (281 ) -
Glen & Natural Environment 19,339 (251 ) (2,509 ) 16,579
Glenluce Healthy Living Campus 48,398 (14,231 ) (34,167 ) -
Industrial Estate 4,024 37,051 3,243 44,318
Village Square 120,042 2,857 (120,713 ) 2,186
199,784 176,606 (144,386 ) 232,004
TOTAL FUNDS 932,627 190,942 - 1,123,569

Old Luce Development Trust

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

11. 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
Unrestricted funds 88,769 (74,433 ) 14,336

Restricted funds
Dunragit Hub 32,000 (200 ) 31,800
Brambles 129,350 (18,432 ) 110,918
Christmas Lights 8,462 - 8,462
Glen & Natural Environment 1,750 (2,001 ) (251 )
Glenluce Healthy Living Campus (7,264 ) (6,967 ) (14,231 )
Industrial Estate 39,112 (2,061 ) 37,051
Village Square 2,857 - 2,857
206,267 (29,661 ) 176,606
TOTAL FUNDS 295,036 (104,094 ) 190,942

The funds included within Dunragit Hub are for the provision of a community hub cabin.

The funds included within Brambles is for the redevelopment of a derelict building as a community asset.

The funds included within Christmas Lights are for the installation of Christmas Lights throughout the village.

The funds included within Glen & Natural Environment are for abrioculture.

The funds included within Glenluce Healthy Living Campus are for running costs and development of the surgery.

The funds included within Industrial Estate are for ongoing refurbishment and running costs.

The funds included within Village Square are for ongoing planting and maintenance.

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.