REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Lairg Community Association |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
for |
Lairg Community Association |
Lairg Community Association |
Contents of the Financial Statements |
for the Year Ended 31 July 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 | 15 |
Lairg Community Association (Registered number: SC249670) |
Report of the Trustees |
for the Year Ended 31 July 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 July 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 charity's principal activity is to promote and to provide facilities for recreation, social, leisure and other activities, for the benefit of the inhabitants of Lairg. |
Significant activities |
Significant activities include, the management of the Lairg Community Centre, including daily running and administrative duties. |
Volunteers |
Lairg Community Association is greatly indebted to members, volunteers and friends for support and encouragement throughout the year. |
Lairg Community Association (Registered number: SC249670) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
ACHIEVEMENT AND PERFORMANCE |
Fundraising activities |
In December 2023 Marie Le Nepveu Stratton stood down as Chair for personal reasons. The Board thanked Marie for her time and dedication as initially as a Board member and then as Chair. Robert Johnstone then took over as the Chair. |
At our AGM in March the Board welcomed Francis Morrison and Danielle Custerson as new Board members. |
As with all old buildings things breakdown and at the beginning of December the boiler needed to be replaced urgently. Fortunately, a local plumber was sourced who was free to install a new oil boiler extremely quickly. Funding was also hastily sourced form Lairg Wind Farm (£4,000), North Highland Initiative (£600) and the balance came from the Community Centre's reserves. With the quick action of those involved it meant that none of the planned Christmas festivities took place in the cold! |
Also, in the later part of 2023 the repairs to the roof over the rifle range were completed along with repairs to the flat roof over the conservatory and the main stage. Also, a full length grate has been installed outside the fire exit door off the rifle range to prevent water running in. |
The monthly Monday market running from March to November is supported by a core group of traders and visitors and the Board is always looking at ways to improve footfall as well as new traders. Collaborative relationships with other organisations continue, seeking out new hirers, novel ways of working with hirers to mutual benefit and supporting the community in a positive way wherever possible. |
In the early part of 2024, an opportunity arose with Voluntary Groups Sutherland (VGS) who were looking for an alternative office and storage to the one they had in Golspie and by the summer VGS had moved into the office upstairs at the Community Centre. |
An area of increasing concern for Lairg Community Association is the reducing number of Board members and the difficulty of persuading individuals to join. This is a priority for the new Board. |
The Board is grateful for the continued funding received from Foundation Scotland, Lairg Wind Farm Benefit Fund, SSE and North Highland Initiative who enable Lairg Community Association to remain at the heart of the community. The Board is grateful for the support, encouragement and commitment shown by its staff, volunteers and friends in continuing to work towards a secure future. The Chair would like to give special thanks to Board members who, as unpaid volunteers, give freely of their time and energies throughout the year in undertaking the work that's undertaken together. |
FINANCIAL REVIEW |
Principal funding sources |
Principal outside funding sources are: |
Foundation Scotland |
Scottish & Southern Energy |
North Highland Initiative |
Lairg Windfarm Benefit Fund |
Reserves policy |
The directors reviewed the Reserves Policy (whereby the unrestricted funds held should be at least 6 months of general expenditure) in June 2023. It is the view of the directors that these reserves are adequate for the company to continue the current level of activities, in the event of a significant drop in income, for six months. |
Lairg Community Association (Registered number: SC249670) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
FUTURE PLANS |
The directors aim to continue to serve the community well and to develop the Lairg Community 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. |
Organisational structure |
The charity is administered by a board of directors who meet regularly. Day to day running of the charity is carried out by directors and by paid staff. The directors are not remunerated for their work as directors. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
Marcus D. MacIver CA |
ICAS |
Mackay & Co |
Chartered Accountants |
Unit 8 |
Golspie Business Park |
Golspie |
Sutherland |
KW10 6UB |
Lairg Community Association (Registered number: SC249670) |
Report of the Trustees |
for the Year Ended 31 July 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Solicitors |
Macleod & MacCallum |
28 Queensgate |
Inverness |
IV1 1DJ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Lairg Community Association |
I report on the accounts for the year ended 31 July 2024 set out on pages six 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. |
Marcus D. MacIver, CA |
ICAS |
Mackay & Co |
Chartered Accountants |
Unit 8 |
Golspie Business Park |
Golspie |
Sutherland |
KW10 6UB |
29 October 2024 |
Lairg Community Association |
Statement of Financial Activities |
for the Year Ended 31 July 2024 |
31.7.24 | 31.7.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 12 | 633 | (633 | ) | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 311,894 |
Lairg Community Association (Registered number: SC249670) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Investments | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 38,396 |
Restricted funds | 273,498 |
TOTAL FUNDS | 311,894 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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. |
Lairg Community Association (Registered number: SC249670) |
Balance Sheet - continued |
31 July 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 |
Lairg Community Association |
Notes to the Financial Statements |
for the Year Ended 31 July 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 | - |
Fixtures and fittings | - |
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. |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | OTHER TRADING ACTIVITIES |
31.7.24 | 31.7.23 |
£ | £ |
Fundraising events |
Hall rent | 23,481 | 23,515 |
SSE Feed in Tariff | 662 | 1,696 |
Play Centre | 379 | 730 |
3. | INVESTMENT INCOME |
31.7.24 | 31.7.23 |
£ | £ |
Deposit account interest |
4. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.7.24 | 31.7.23 |
£ | £ |
Depreciation - owned assets |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023. |
6. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.7.24 | 31.7.23 |
Part-time hall caretakers | 2 | 2 |
Part-time administrator | 1 | 1 |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
- | 72 |
Total |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward | 32,649 | 271,354 |
TOTAL FUNDS CARRIED FORWARD |
38,396 |
273,498 |
311,894 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2023 and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
10. | CURRENT ASSET INVESTMENTS |
31.7.24 | 31.7.23 |
£ | £ |
NS & I | 4,000 | 4,000 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other creditors |
12. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.8.23 | in funds | funds | 31.7.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 38,396 | (2,066 | ) | 633 | 36,963 |
Restricted funds |
Restricted | 271,522 | (20,468 | ) | - | 251,054 |
Resilience telephone/generator | 1,229 | (246 | ) | - | 983 |
Play centre | 747 | 201 | (633 | ) | 315 |
(20,513 | ) | ( |
) |
TOTAL FUNDS | (22,579 | ) | 289,315 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 24,919 | (26,985 | ) | (2,066 | ) |
Restricted funds |
Restricted | 9,944 | (30,412 | ) | (20,468 | ) |
Resilience telephone/generator | - | (246 | ) | (246 | ) |
Play centre | 379 | (178 | ) | 201 |
( |
) | (20,513 | ) |
TOTAL FUNDS | ( |
) | (22,579 | ) |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
12. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.8.22 | in funds | 31.7.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 32,649 | 5,747 | 38,396 |
Restricted funds |
Restricted | 268,443 | 3,079 | 271,522 |
Resilience telephone/generator | 1,537 | (308 | ) | 1,229 |
Wedding project | 251 | (251 | ) | - |
Play centre | 1,123 | (376 | ) | 747 |
271,354 | 2,144 | 273,498 |
TOTAL FUNDS | 304,003 | 7,891 | 311,894 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 28,640 | (22,893 | ) | 5,747 |
Restricted funds |
Restricted | 19,155 | (16,076 | ) | 3,079 |
Resilience telephone/generator | - | (308 | ) | (308 | ) |
Wedding project | - | (251 | ) | (251 | ) |
Play centre | 730 | (1,106 | ) | (376 | ) |
19,885 | (17,741 | ) | 2,144 |
TOTAL FUNDS | 48,525 | (40,634 | ) | 7,891 |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.8.22 | in funds | funds | 31.7.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 32,649 | 3,681 | 633 | 36,963 |
Restricted funds |
Restricted | 268,443 | (17,389 | ) | - | 251,054 |
Resilience telephone/generator | 1,537 | (554 | ) | - | 983 |
Wedding project | 251 | (251 | ) | - | - |
Play centre | 1,123 | (175 | ) | (633 | ) | 315 |
271,354 | (18,369 | ) | (633 | ) | 252,352 |
TOTAL FUNDS | 304,003 | (14,688 | ) | - | 289,315 |
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 | 53,559 | (49,878 | ) | 3,681 |
Restricted funds |
Restricted | 29,099 | (46,488 | ) | (17,389 | ) |
Resilience telephone/generator | - | (554 | ) | (554 | ) |
Wedding project | - | (251 | ) | (251 | ) |
Play centre | 1,109 | (1,284 | ) | (175 | ) |
30,208 | (48,577 | ) | (18,369 | ) |
TOTAL FUNDS | 83,767 | (98,455 | ) | (14,688 | ) |
Lairg Community Association |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
13. | RELATED PARTY DISCLOSURES |