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REGISTERED COMPANY NUMBER: SC213108 (Scotland)
REGISTERED CHARITY NUMBER: 031862














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LOW GREEN & AYR SEAFRONT TRUST LIMITED

LOW GREEN & AYR SEAFRONT TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 12

LOW GREEN & AYR SEAFRONT TRUST LIMITED (REGISTERED NUMBER: SC213108)

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 activities
The Trust's objectives are to work to preserve the Common Good, the Low Green and Ayr seafront and other open lands in Ayr and surrounding areas and to provide a forum for debate on all issues concerning the aforementioned areas. The policies adopted in furtherance of these objects are shown in note 1 and there has been no change in these during the year.
The activities were in accordance with the Charity's objectives.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity maintained its financial position and achieved its objectives.

We continued to support organisations trying to prevent the demolition of the historic Ayr Station Hotel but unfortunately though we had all proved it was cheaper to refurbish it than to demolish it a tragic fire led to its demolition by the Council. We have continued to monitor the use of the Low Green for one-off events such as the Air Show, the Pavilion Pop Festival and annual Circus. Also the plans by the Council to replace Hourstons Dept Store in the High St with a retirement village and to refurbish the Citadel swimming baths. Our objections to a proposed housing development in an unspoiled area of natural beauty at Greenan Castle were also successful. We have continued to hold in the region of £25,000 invested for our members in order for LAST to take advice and where necessary legal action to fulfil our remit.

FINANCIAL REVIEW
Financial position
Turnover, which comprises subscriptions and donations from members, and the operating expenses are summarised in the Statement of Financial Activities. The surplus for the year has been transferred to reserves. The year-end financial position is considered satisfactory.

The company is a Scottish Charity. Any donation to the charity can be made within Gift Aid and is treated net of basic rate tax, which can be recovered by the charity. The gross equivalent is allowed against higher rates for the donor. Gift Aid declaration forms are available from the chairman.

It is general policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a minimum level £5,000. The directors 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 Trust'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.

Reserves are in excess of the general policy because the directors see themselves as custodians of funds that were raised to enable a challenge to be made against plans to build/construct on the Ayr Low Green and Seafront. The directors have been successful, in that these plans are not proceeding at present or in the near future. These remaining funds are retained for the future challenges on Ayr Seafront or similar alternative sites in Ayr that will fit in to the charitable objectives. The reserves will not significantly change from their current level until a new issue arises that the directors consider requires their intervention.

The directors have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Trust is a company limited by guarantee. The Trust is controlled by the Committee of Management.

LOW GREEN & AYR SEAFRONT TRUST LIMITED (REGISTERED NUMBER: SC213108)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
SC213108 (Scotland)

Registered Charity number
031862

Registered office
20 Barns Street
Ayr
Ayrshire
KA7 1XA

Trustees
P D De Moncey Conegliano
W Mooney
Mrs L Inglis

Other Committee Members
Bradley Robertson (elected March 2024)
David Robertson (elected March 2024)

Company Secretary
P D De Moncey Conegliano

Independent Examiner
Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

Solicitors
McGrigors
Solicitors
Pacific House
70 Wellington Street
Glasgow
G2 6SB

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Low Green & Ayr Seafront Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.


LOW GREEN & AYR SEAFRONT TRUST LIMITED (REGISTERED NUMBER: SC213108)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 24 November 2024 and signed on its behalf by:





P D De Moncey Conegliano - Secretary

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
LOW GREEN & AYR SEAFRONT TRUST LIMITED



I report on the accounts for the year ended 31 March 2024 set out on pages five 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.








Marguerite Roos B. Acc CA
The Institute of Chartered Accountants of Scotland

Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

26 November 2024

LOW GREEN & AYR SEAFRONT TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

31/3/24 31/3/23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 841 820

Investment income 2 912 317
Total 1,753 1,137

EXPENDITURE ON
Charitable activities 3
Support 754 896

NET INCOME 999 241


RECONCILIATION OF FUNDS
Total funds brought forward 28,035 27,794

TOTAL FUNDS CARRIED FORWARD 29,034 28,035

LOW GREEN & AYR SEAFRONT TRUST LIMITED (REGISTERED NUMBER: SC213108)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Debtors 7 5 5
Cash at bank 29,629 28,631
29,634 28,636

CREDITORS
Amounts falling due within one year 8 (600 ) (601 )

NET CURRENT ASSETS 29,034 28,035

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,034

28,035

NET ASSETS 29,034 28,035
FUNDS 9
Unrestricted funds 29,034 28,035
TOTAL FUNDS 29,034 28,035

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.


LOW GREEN & AYR SEAFRONT TRUST LIMITED (REGISTERED NUMBER: SC213108)

BALANCE SHEET - 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 24 November 2024 and were signed on its behalf by:





P D De Moncey Conegliano - Trustee





W Mooney - Trustee

LOW GREEN & AYR SEAFRONT TRUST LIMITED

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.

The Trustees consider that there are no material uncertainties about the company's ability to continue as a going concern.

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.

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.

FINANCIAL INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


LOW GREEN & AYR SEAFRONT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. INVESTMENT INCOME
31/3/24 31/3/23
£    £   
Deposit account interest 912 317

3. CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 4)
£   
Support 754

4. SUPPORT COSTS
Governance
Management costs Totals
£    £    £   
Support 124 630 754

Governance costs represents the remuneration paid to the independent examiner.

5. 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.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 820

Investment income 317
Total 1,137

EXPENDITURE ON
Charitable activities
Support 896

NET INCOME 241


RECONCILIATION OF FUNDS
Total funds brought forward 27,794

LOW GREEN & AYR SEAFRONT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   

TOTAL FUNDS CARRIED FORWARD 28,035

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 5 5

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Accrued expenses 600 601

9. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£    £    £   
Unrestricted funds
General fund 28,035 999 29,034

TOTAL FUNDS 28,035 999 29,034

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

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,753 (754 ) 999

TOTAL FUNDS 1,753 (754 ) 999


LOW GREEN & AYR SEAFRONT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. 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 27,794 241 28,035

TOTAL FUNDS 27,794 241 28,035

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,137 (896 ) 241

TOTAL FUNDS 1,137 (896 ) 241

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 27,794 1,240 29,034

TOTAL FUNDS 27,794 1,240 29,034

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 2,890 (1,650 ) 1,240

TOTAL FUNDS 2,890 (1,650 ) 1,240

LOW GREEN & AYR SEAFRONT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RELATED PARTY DISCLOSURES

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