REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 October 2023 |
for |
Growing21 Ltd |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 October 2023 |
for |
Growing21 Ltd |
Growing21 Ltd |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 13 |
Growing21 Ltd |
Reference and Administrative Details |
for the Year Ended 31 October 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | David Nicholls FCCA |
Brett Nicholls Associates |
Herbert House |
24 Herbert Street |
Glasgow |
G20 6NB |
BANKERS |
Skelmersdale |
WN8 6WT |
Growing21 Ltd (Registered number: SC676923) |
Report of the Trustees |
for the Year Ended 31 October 2023 |
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 October 2023. 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). |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
As we reflect on the past year, we are proud to present the Annual Trustee Report for Growing21 Ltd. This report highlights our achievements, challenges, and the strides we have made towards fulfilling our mission to serve and enrich our community. The period from July 1, 2023, to June 30, 2024, has been one of growth and transformation for our organization. |
Project Updates |
1. The Link Project: |
Progress has been steady with the development of land for allotments and the community garden. The project is on track, with significant milestones achieved this year. |
2. Café Project: |
The café successfully opened its doors in early July 2024. The café has been well-received by the community, providing a new venue for social interaction and support. |
3. New Property Purchase: |
Discussions with potential funders for acquiring the local church are ongoing. The acquisition aims to enhance our capacity to serve the community and expand our programs. |
4. Pantry Project: |
The pantry continues to serve an increasing number of families. Efforts are underway to expand services and secure additional funding to meet the growing demand. |
Community Engagement |
Annual General Meeting (AGM): |
The AGM, held on August 3, 2024, was a significant success, with over 500 attendees. The event included a review of the past year, introduction of new board members, and a community celebration. |
Community Programs: |
New classes and workshops launched during the year have received positive feedback, reflecting the community’s engagement and support for our initiatives. |
Acknowledgements |
Volunteers and Staff: |
We extend our heartfelt thanks to all volunteers, staff, and community members whose dedication and hard work have been instrumental in our success. |
Donors and Partners: |
Special thanks to our donors and partners for their generous support and commitment to our mission. |
FINANCIAL REVIEW |
Financial position |
During the year to 31 October 2023, the charity had total income of £280,546 (2022: £34,448), expenditure of £127,968 (2022: £18,722) leaving a net surplus of £152,578 (2022: £15,726). |
The charity’s total reserves at 31 October 2023 were £168,304 (2022: £15,726) with £102,059 of these being unrestricted reserves (2022: £295), £15,047 representing the net book value of the charity's fixed assets (2022: £458) and £51,198 being restricted funds (2022: £15,431). |
It should be noted that during the year, the Pantry which had previously operated within the Ruchazie Church of Scotland charity (SC003149), was transferred to Growing21. A total of £116,240 was transferred to the charity in this process which represented cumulative funds generated by the Pantry since it was set up. |
Growing21 Ltd (Registered number: SC676923) |
Report of the Trustees |
for the Year Ended 31 October 2023 |
FINANCIAL REVIEW |
Reserves policy |
It is the policy of the project to maintain unrestricted funds at a level to provide sufficient funds to cover management, administration and support costs for a period of three months. |
The trustees estimate that three months of ordinary running costs of this nature amount to £31,992 for the year ended 31 October 2023. At the balance sheet date the charity held unrestricted reserves of £102,059 and therefore the trustees are satisfied that this policy is being met. |
STRATEGIC GOALS AND FUTURE OUTLOOK |
Strategic Planning: |
The board has outlined key goals for the upcoming year, including expanding community programs, enhancing outreach efforts, and securing additional funding sources. |
Future Projects: |
Plans are in place for new initiatives that align with our mission and address emerging community needs. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a company limited by guarantee, incorporated on 7 October 2020 and registered as a charity since 1 July 2021.The company was established under Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. |
Board Composition: |
The board welcomed Shona Armstrong as a new member in August 2023. Shona brings a wealth of experience and has already made significant contributions to our strategic discussions. |
Key Governance Actions: |
The board has reviewed and updated our governance policies to ensure compliance with regulatory standards and best practices. |
Key management remuneration |
The charity is managed on a day to day basis by the trustees who give their time freely. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Growing21 Ltd |
I report on the accounts for the year ended 31 October 2023 set out on pages five to thirteen. |
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. |
David Nicholls FCCA |
The Association of Chartered Certified Accountants |
David Nicholls FCCA |
Brett Nicholls Associates |
Herbert House |
24 Herbert Street |
Glasgow |
G20 6NB |
26 November 2024 |
Growing21 Ltd |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 October 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 3 |
Other trading activities | 4 |
Other income | 5 |
Total |
EXPENDITURE ON |
Charitable activities | 6 |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 15,726 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
This statement of financial activities includes all gains and losses recognised in the year. |
All income and expenditure derive from continuing activities in both years. Comparative figures for the previous year by fund type are shown in Note 12. |
Growing21 Ltd (Registered number: SC676923) |
Balance Sheet |
31 October 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
CURRENT ASSETS |
Debtors | 14 | ( |
) | ( |
) |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 295 |
Restricted funds | 15,431 |
TOTAL FUNDS | 15,726 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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. |
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 |
Growing21 Ltd |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | GENERAL INFORMATION |
Growing21 Ltd ("the charity") is Scottish charitable incorporated organisation governed by its constitution dated 7 October 2020. It was registered as a charity in Scotland (registered number SC051092) on 1 July 2021. Its registered address is 435 Gartloch Road, Ruchazie, G33 3TJ. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared on an accruals basis, and on a going concern basis, in |
accordance with: |
- the Charities and Trustee Investment (Scotland) Act 2005; |
- Regulation 8 (Statement of account - Fully accrued accounts) of The Charities Accounts (Scotland) Regulations 2006; |
- the Financial Reporting Standard applicable in the UK and Republic of Ireland, published in March 2018 ("FRS 102"), to the extent that it applies to small entities and public benefit entities; |
- '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, published in October 2019 (FRS 102)' ("the Charities SORP"); |
- UK Generally Accepted Accounting Practice; and |
- the historical cost convention. |
The charity meets the definition of a public benefit entity under FRS 102. |
Assets and liabilities are initially recognised at historical cost or transaction value, unless otherwise stated in the relevant accounting policy. |
The financial statements are presented in UK sterling, which is the charity's functional currency, and rounded to the nearest pound. |
There have been no changes to the basis of preparation this financial year or to the previous financial year's financial statements. |
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. |
Computer Equipment | - |
The charity does not currently hold any fixed assets but it is the policy of the trustees to capitalise any tangible fixed assets purchased where the cost exceeds £500. |
Taxation |
Growing21 Ltd is a charity within the meaning of Section 467 of the Corporation Tax Act 2010. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied for charitable purposes only. |
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. |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Fund accounting |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
3. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Donations |
Grants |
Donation on transfer from Ruchazie Church of Scotland | 116,240 | - |
Grants received, included in the above, are as follows: |
2023 | 2022 |
£ | £ |
Development Trusts Association Scotland | 48,169 | 20,000 |
Seven Lochs | 22,880 | 9,000 |
Area Partnership | 5,500 | 5,000 |
GCVS | 3,500 | - |
GCC Co-op & Social Enterprise Fund | 5,000 | - |
Zero Waste Scotland | 4,100 | - |
Locality | 10,000 | - |
People's Postcode | 20,000 | - |
Ruchazie Housing Association | 7,000 | - |
Scottish Government ICF | 3,328 | - |
Cash for Kids | 1,960 | - |
131,437 | 34,000 |
4. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Pantry | 16,867 | - |
Alexandra Rose Vouchers | 4,516 | - |
5. | OTHER INCOME |
2023 | 2022 |
£ | £ |
Employer's Allowance | 2,954 | 348 |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
6. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 7) | note 8) | Totals |
£ | £ | £ |
Regeneration of Ruchazie and surrounding areas which comprise Glasgow Ward 21 |
123,695 |
4,273 |
127,968 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
2023 | 2022 |
£ | £ |
Staff costs | 57,760 | 8,066 |
Insurance | 772 | 432 |
Payroll fees | 679 | 117 |
Recruitment expenses | - | 230 |
Art | 1,400 | 2,900 |
Event Fees | 7,410 | 580 |
Professional fees | 20,400 | 4,950 |
Subscriptions | 180 | 154 |
Activities | 9,237 | - |
Donations | 300 | - |
Equipment | 487 | - |
Food Costs | 4,824 | - |
Garden | 1,778 | - |
Printing & IT Costs | 221 | - |
Rent | 300 | - |
Repairs & Maintenance | 830 | - |
Sundry Costs | 35 | - |
Telephone | 322 | - |
Training | 7,500 | - |
Utilities | 3,609 | - |
Water Rates | 565 | - |
Volunteer Expenses | 19 | - |
Depreciation | 5,067 | 153 |
123,695 | 17,582 |
8. | SUPPORT COSTS |
Finance |
£ |
Regeneration of Ruchazie and surrounding areas which comprise Glasgow Ward 21 |
4,273 |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Regeneration |
of |
Ruchazie |
and |
surrounding |
areas |
which |
comprise |
Glasgow | Total |
Ward 21 | activities |
£ | £ |
Independent Examination | 1,020 | 1,140 |
Accountancy Fees | 3,253 | - |
4,273 | 1,140 |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
11. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
57,760 | 8,066 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Support staff |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other income |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD | 295 | 15,431 | 15,726 |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
13. | TANGIBLE FIXED ASSETS |
Office & |
Other | Computer |
Equipment | Equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Payroll Account | ( |
) |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accrued expenses |
16. | MOVEMENT IN FUNDS |
Net | Transfers |
At | movement | between | At |
1/11/22 | in funds | funds | 31/10/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 295 | 121,878 | (20,114 | ) | 102,059 |
Designated Fixed Assets | - | (5,067 | ) | 20,114 | 15,047 |
116,811 |
Restricted funds |
Development Trusts Association Scotland | 9,935 | (9,935 | ) | - | - |
Seven Lochs | 1,150 | 7,880 | - | 9,030 |
Area Partnership | 4,346 | 1,447 | - | 5,793 |
GCVS | - | 3,500 | - | 3,500 |
Zero Waste Scotland | - | 1,895 | - | 1,895 |
Cafe | - | 30,000 | - | 30,000 |
Pantry Restricted Funds | - | 980 | - | 980 |
35,767 |
TOTAL FUNDS | 152,578 | 168,304 |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
16. | 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 | 142,357 | (20,479 | ) | 121,878 |
Designated Fixed Assets | - | (5,067 | ) | (5,067 | ) |
( |
) | 116,811 |
Restricted funds |
Development Trusts Association Scotland | 48,169 | (58,104 | ) | (9,935 | ) |
Seven Lochs | 22,880 | (15,000 | ) | 7,880 |
Area Partnership | 5,500 | (4,053 | ) | 1,447 |
GCVS | 3,500 | - | 3,500 |
GCC Co-op & Social Enterprise Fund | 5,000 | (5,000 | ) | - |
Zero Waste Scotland | 4,100 | (2,205 | ) | 1,895 |
Cafe | 30,000 | - | 30,000 |
Pantry Restricted Funds | 19,040 | (18,060 | ) | 980 |
( |
) | 35,767 |
TOTAL FUNDS | ( |
) | 152,578 |
Comparatives for movement in funds |
Net |
movement | At |
in funds | 31/10/22 |
£ | £ |
Unrestricted funds |
General fund | 295 | 295 |
Restricted funds |
Development Trusts Association Scotland | 9,935 | 9,935 |
Seven Lochs | 1,150 | 1,150 |
Area Partnership | 4,346 | 4,346 |
15,431 | 15,431 |
TOTAL FUNDS | 15,726 | 15,726 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 448 | (153 | ) | 295 |
Restricted funds |
Development Trusts Association Scotland | 20,000 | (10,065 | ) | 9,935 |
Seven Lochs | 9,000 | (7,850 | ) | 1,150 |
Area Partnership | 5,000 | (654 | ) | 4,346 |
34,000 | (18,569 | ) | 15,431 |
TOTAL FUNDS | 34,448 | (18,722 | ) | 15,726 |
Growing21 Ltd |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
17. | RELATED PARTY DISCLOSURES |
18. | PURPOSE OF FUNDS |
General - the unrestricted free reserves |
DTA - Funding for 2 positions, an admin worker and a project worker |
Seven Lochs - Funding to purchase and regenerate the derelict land on Drumlochy Road |
Area Partnership - Money from Glasgow City Council to pay for legal and professional fees in order to secure the lease for the community kitchen and cafe |