REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
FOR |
ROADS PROJECT |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 |
FOR |
ROADS PROJECT |
ROADS PROJECT |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 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 |
ROADS PROJECT (REGISTERED NUMBER: SC263629) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 28 FEBRUARY 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 28 February 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 purposes, as recorded in the constitution, are: |
- To relieve the conditions of life and isolation of the elderly inhabitants of St Combs and environs; |
- To advance the education of the youth in the misuse of drugs and/or other substances and the effects that this can have on health; and |
- To promote the benefit of young people by providing facilities, or assisting in the provision of facilities, in the interest of social welfare for recreation and other leisure-time occupation so that their conditions of life may be improved and in furtherance thereof:- |
- | To operate a non-profit making venture which will help to create a strong community spirit within a |
Christian ethos |
- | To work in partnership with, and for the benefit of, the local community |
- | To operate a facility which provides a safe relaxing environment where people of all ages can socialise in |
pleasant high quality surroundings |
- | To provide a base for relational community work |
- | To educate and train workers in relevant methods of community work (for example counselling and |
practical support) |
- | To enhance the local area by operating a well maintained property |
ACHIEVEMENT AND PERFORMANCE |
Activities and achievements |
Roads Cafe achievements and performance over the last year has continued to be restricted due to the financial climate higher interest rates and inflation with potential customers having less disposable income to spend. |
We have continued, to provide a safe relaxing and welcoming place for people to meet, socialise, have home cooked meals, snacks and meet family and friends in nice welcoming surroundings. |
The cafe has again this year found it hard to get volunteers and there have been more small cafes opening in the area, which limits the people visiting the café in St. Combs. |
We have continued with Roads Kids Club on Friday nights during school days with reduced numbers this year to around 25 regular attenders, also we encourage community groups to use the venue after cafe hours for their activities. |
We continue to rent the cafe to St. Combs Community Church on Sundays. This helps greatly with our income and cash flow. |
FINANCIAL REVIEW |
Reserves policy |
The surplus will continue to be used in the following year for office administration, salaries and any other additional expenses. |
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 appointed throughout the year and existing members are reappointed at our annual general meeting, held in January each year. |
ROADS PROJECT (REGISTERED NUMBER: SC263629) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Susan M Hepburn CA ATT |
Leiper & Summers |
4 Charlotte Street |
Fraserburgh |
Aberdeenshire |
AB43 9JE |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
ROADS PROJECT |
I report on the accounts for the year ended 28 February 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. |
Susan M Hepburn CA ATT |
The Institute of Chartered Accountants of Scotland |
Leiper & Summers |
4 Charlotte Street |
Fraserburgh |
Aberdeenshire |
AB43 9JE |
Date: ............................................. |
ROADS PROJECT |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 2 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 297,830 |
ROADS PROJECT (REGISTERED NUMBER: SC263629) |
BALANCE SHEET |
28 FEBRUARY 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 297,830 |
TOTAL FUNDS | 297,830 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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. |
ROADS PROJECT (REGISTERED NUMBER: SC263629) |
BALANCE SHEET - continued |
28 FEBRUARY 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 |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 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. |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
2. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Hire of hall | 7,410 | 7,525 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 28 February 2024 nor for the year ended 28 February 2023. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 297,830 |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
6. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 March 2023 and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 March 2023 and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
7. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Tax |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 11) |
11. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Bank loans more 5 yr by instal | 47,121 | 49,049 |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.3.23 | in funds | 28.2.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 297,830 | 1,974 | 299,804 |
TOTAL FUNDS | 1,974 | 299,804 |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
12. | 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 | 28,309 | (26,335 | ) | 1,974 |
TOTAL FUNDS | ( |
) | 1,974 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.3.22 | in funds | 28.2.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 300,927 | (3,097 | ) | 297,830 |
TOTAL FUNDS | 300,927 | (3,097 | ) | 297,830 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 27,044 | (30,141 | ) | (3,097 | ) |
TOTAL FUNDS | 27,044 | (30,141 | ) | (3,097 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.3.22 | in funds | 28.2.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 300,927 | (1,123 | ) | 299,804 |
TOTAL FUNDS | 300,927 | (1,123 | ) | 299,804 |
ROADS PROJECT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2024 |
12. | 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 | 55,353 | (56,476 | ) | (1,123 | ) |
TOTAL FUNDS | 55,353 | (56,476 | ) | (1,123 | ) |
13. | RELATED PARTY DISCLOSURES |