REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 January 2024 |
for |
Dufftown 2000 Ltd. |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 31 January 2024 |
for |
Dufftown 2000 Ltd. |
Dufftown 2000 Ltd. |
Contents of the Financial Statements |
For The Year Ended 31 January 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 12 |
Dufftown 2000 Ltd. (Registered number: SC164382) |
Report of the Trustees |
For The Year Ended 31 January 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 January 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 |
This financial year continued to be overshadowed by the enquiries with OSCR. Following further allegations from some Dufftown protagonists, resolving these questions have been the on- going focus for the Directors. The investigations concluded on 31 October 2023 with no further recommendations. We have opened the Whisky and Heritage Centre on an 'occasional' basis during the year to support events in Dufftown; Covid-19 is still prevalent and presents an unacceptable risk to our elderly volunteers. Our activities are now restricted to the provision and maintenance of: |
The Whiskey and Heritage Centre |
The Christmas Lights |
We held the Whisky Fair in May 2023 as a part of the Spirit of Speyside Whisky Festival. Numbers were slightly up on 2022. The considerable work for volunteers to put on this event was worthwhile, as the Whisky Fair provides significant funds to support our activities during the year. The Directors have continued to review our modus operandi with a view to reducing our outgoings. We have surrendered the BT landline at the Whisky and Heritage Centre in favour of a mobile phone and a favourable SIM tariff. Discussions with both EON and SSE with reference to the separate electricity supplies to both premises have been on going . In September 2023 we eventually managed to remove the electricity supply from 10 Conval St resulting in the cessation of standing charges. Discussions with SSE continue with a likely change of supplier at the end of our contracted period on 31 March 2024. |
The charity is dependant on the support of volunteers who provided approximately 54 hours of unpaid service during the year. |
FINANCIAL REVIEW |
The level of unrestricted funds held at the year end was £164,561 of which £111,276 is represented by fixed assets and £53,242 by liquid funds. |
The level of restricted funds held at the year end was £5,681. |
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. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Dufftown 2000 Ltd. (Registered number: SC164382) |
Report of the Trustees |
For The Year Ended 31 January 2024 |
Trustees |
Independent Examiner |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Bankers |
Inverurie |
Aberdeenshire |
AB51 3PU |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Dufftown 2000 Ltd. |
I report on the accounts for the year ended 31 January 2024 set out on pages four to twelve. |
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. |
Alan Long FCA |
The Institute of Chartered Accountants in England and Wales |
Cathedral Accountancy |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
31 October 2024 |
Dufftown 2000 Ltd. |
Statement of Financial Activities |
For The Year Ended 31 January 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 166,947 |
Dufftown 2000 Ltd. (Registered number: SC164382) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 11 |
Unrestricted funds | 160,616 |
Restricted funds | 6,331 |
TOTAL FUNDS | 166,947 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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. |
Dufftown 2000 Ltd. (Registered number: SC164382) |
Balance Sheet - continued |
31 January 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 |
Dufftown 2000 Ltd. |
Notes to the Financial Statements |
For The Year Ended 31 January 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. |
Freehold property | - |
Plant and machinery | - |
Computer equipment | - |
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. |
Dufftown 2000 Ltd. |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2024 |
2. | OTHER TRADING ACTIVITIES |
31.1.24 | 31.1.23 |
£ | £ |
Fundraising events |
Shop income |
3. | INVESTMENT INCOME |
31.1.24 | 31.1.23 |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.1.24 | 31.1.23 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
6. | 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 |
Charitable activities |
Dufftown 2000 Ltd. |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 160,697 | 6,460 |
TOTAL FUNDS CARRIED FORWARD | 160,616 | 6,331 | 166,947 |
7. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
8. | STOCKS |
31.1.24 | 31.1.23 |
£ | £ |
Stocks |
Dufftown 2000 Ltd. |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Accrued expenses |
11. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.23 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 160,616 | 3,945 | 164,561 |
Restricted funds |
Lights | 2,794 | 38 | 2,832 |
Museum |
3,537 | (688 | ) | 2,849 |
(650 | ) |
TOTAL FUNDS | 3,295 | 170,242 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,001 | (8,056 | ) | 3,945 |
Restricted funds |
Lights | 38 | - | 38 |
Museum |
321 | (1,009 | ) | (688 | ) |
( |
) | (650 | ) |
TOTAL FUNDS | ( |
) | 3,295 |
Dufftown 2000 Ltd. |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.2.22 | in funds | 31.1.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 160,697 | (81 | ) | 160,616 |
Restricted funds |
Lights | 2,787 | 7 | 2,794 |
Museum |
3,673 | (136 | ) | 3,537 |
6,460 | (129 | ) | 6,331 |
TOTAL FUNDS | 167,157 | (210 | ) | 166,947 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 5,898 | (5,979 | ) | (81 | ) |
Restricted funds |
Lights | 7 | - | 7 |
Museum |
284 | (420 | ) | (136 | ) |
291 | (420 | ) | (129 | ) |
TOTAL FUNDS | 6,189 | (6,399 | ) | (210 | ) |
Dufftown 2000 Ltd. |
Notes to the Financial Statements - continued |
For The Year Ended 31 January 2024 |
11. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.2.22 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 160,697 | 3,864 | 164,561 |
Restricted funds |
Lights | 2,787 | 45 | 2,832 |
Museum |
3,673 | (824 | ) | 2,849 |
6,460 | (779 | ) | 5,681 |
TOTAL FUNDS | 167,157 | 3,085 | 170,242 |
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 | 17,899 | (14,035 | ) | 3,864 |
Restricted funds |
Lights | 45 | - | 45 |
Museum |
605 | (1,429 | ) | (824 | ) |
650 | (1,429 | ) | (779 | ) |
TOTAL FUNDS | 18,549 | (15,464 | ) | 3,085 |
12. | RELATED PARTY DISCLOSURES |