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COMPANY REGISTRATION NUMBER: SC227985
CHARITY REGISTRATION NUMBER: SC032803
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Unaudited Financial Statements
For the year ended
29 February 2024
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Financial Statements
Year ended 29 February 2024
Page
Trustees' annual report (incorporating the directors' report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Directors' Report)
Year ended 29 February 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 29 February 2024 .
Reference and administrative details
Registered charity name
Blair Atholl and Struan Initiative
Charity registration number
SC032803
Company registration number
SC227985
Principal office and registered
Blair Atholl Village Hall
office
Main Street
Blair Atholl
PITLOCHRY
PH18 5SG
Scotland
The trustees
Mr M J Williamson (Chairman)
Mr D Mckenzie (Treasurer)
(Appointed 17 October 2023)
Mr A Brindley
(Appointed 17 October 2023)
Prof V E Cree
Mr A S Gordon-Gibson
Mr R Greer
(Appointed 17 October 2023)
Company secretary
Mr J B Charles
Independent examiner
John McKeith C A
30 Bonnethill Road
Pitlochry
PH16 5BS
Structure, governance and management
The charity is a company limited by guarantee and is governed by its articles of association.
The members of the Charity are the Trustees for the time being and vice versa. We therefore have no membership from which to recruit new Trustees.
Our Board of Trustees could comprise:
- A representative of each "Regular User Group", principally the main local groups using our facilities, although it is difficult to persuade some groups to appoint one;
- A local Perth & Kinross Councillor (he/she is agreed among the 3 Councillors for the Highland Ward following each election);
- Up to 3 trustees co-opted by the Board.
We try to maintain a total of at least 6 Trustees as this helps to ensure continuity. If insufficient User Groups are willing to appoint representatives, we approach suitable members of the community. We try to maintain a balance of skills on the Board.
Objectives and activities
The objectives of the charity are:
(a) to promote and advance the education of the public about working and living sustainably in Blair Atholl and Struan and the surrounding area;
(b) to enhance the quality of life of the inhabitants of Blair Atholl and Struan and the surrounding area through projects which encourage and provide integration, diversification and sustainability;
(c) to advance public participation in sport and to provide, or assist in the provision of, recreational and other facilities therefor; and
(d) to prevent loss of life, by managing a community emergency fund for the benefit of organisations and individuals resident in Blair Atholl and Struan and the surrounding area, for the purpose of preparing, mitigating or recovering from the effects of events including, but not limited to, flooding, fires or explosions, hazardous materials release, extended power or utility outages or mass casualty events.
Achievements and performance
Income for Blair Atholl and Struan Initiative was limited. No income was received for the use of Memorial Park and only £510 (2023: £570) was received from members of the public for the use of the sports court, despite there being significant expenditure for the upkeep of the latter.
The financial year ending 29 February 2024 saw an accounting deficit, which will need to be addressed to minimise further losses in the future.
The first £3,000 grant was received from the Basil Trust. This funded most of the cost in removing the games area carpet.
A further £3,000 is receivable for funding the feasibility study into developing a sports court at the local primary school. Arrangements have not yet been completed to allow this to proceed.
Financial review
Total income for the year was £3,749 (2023: £934), which included the first £3,000 payment of two granted by the Basil Trust. Regular income made up the balance, which consisted of sports court hire of £510 (2023: £570) and bank interest of £239 (2023: £47).
The largest item of expenditure was £4,103 for work to remove the sports court carpet, though this was largely funded by the first payment of the Basil Trust grant. This comprised the total for Repairs and Maintenance this year (2023: £1,238). The levels of expenditure in other categories did not vary significantly from last year and therefore total expenditure amounted to £5,432 (2023: £2,554). This resulted in a deficit of £1,683 for the year's transactions (2023: £1,620 deficit).
Total funds at the year end were £38,553 (2023: £40,236), of which £20,485 were restricted. Restricted funds are detailed in the notes to the accounts.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report (incorporating the directors' report) was approved on 28 November 2024 and signed on behalf of the board of trustees by:
Mr M J Williamson (Chairman)
Trustee
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Blair Atholl and Struan Initiative
Year ended 29 February 2024
I report to the trustees on my examination of the financial statements of Blair Atholl and Struan Initiative ('the charity') for the year ended 29 February 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities and Trustee Investment (Scotland) Act 2005 (‘the 2005 Act’), the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts carried out under section 44(1)(c) of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Independent examiner's statement
Since the charity is required by company law to prepare its accounts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I can confirm that I am qualified to undertake the examination because I am a registered member of ICAS which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; or
2. the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotland) Regulations 2006; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John McKeith C A Independent Examiner
30 Bonnethill Road Pitlochry PH16 5BS
28 November 2024
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 29 February 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
3,000
3,000
Investment income
6
239
239
47
Other income
7
510
510
887
-------
----
-------
----
Total income
3,749
3,749
934
-------
----
-------
----
Expenditure
Expenditure on charitable activities
8,9
5,432
5,432
2,554
-------
----
-------
-------
Total expenditure
5,432
5,432
2,554
-------
----
-------
-------
-------
----
-------
-------
Net expenditure and net movement in funds
( 1,683)
( 1,683)
( 1,620)
-------
----
-------
-------
Reconciliation of funds
Total funds brought forward
19,751
20,485
40,236
41,856
--------
--------
--------
--------
Total funds carried forward
18,068
20,485
38,553
40,236
--------
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible fixed assets
14
18,250
18,267
Current assets
Debtors
15
608
Cash at bank and in hand
32,774
22,383
--------
--------
33,382
22,383
Creditors: amounts falling due within one year
16
13,079
414
--------
--------
Net current assets
20,303
21,969
--------
--------
Total assets less current liabilities
38,553
40,236
--------
--------
Net assets
38,553
40,236
--------
--------
Funds of the charity
Restricted funds
20,485
20,485
Unrestricted funds
18,068
19,751
--------
--------
Total charity funds
17
38,553
40,236
--------
--------
For the year ending 29 February 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr D Mckenzie (Treasurer)
Trustee
Blair Atholl and Struan Initiative
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is Blair Atholl Village Hall, Main Street, Blair Atholl, PITLOCHRY, PH18 5SG, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
No material judgements, estimates or assumptions were made in the preparation of the financial statements for the current or comparative years.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Restricted funds are subject to restrictions on their expenditure imposed by the donor.
Incoming resources
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred.
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Sports equipment
-
25% reducing balance
Sports pitch
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Cash and cash equivalents
Cash and cash equivalents consist of deposits on call at banks.
4. Limited by guarantee
The company is limited by guarantee.
The liability of the guarantors in the event of a winding up is limited to £1.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Grants
Other grants receivable
3,000
3,000
-------
-------
----
----
6. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
239
239
47
47
----
----
----
----
7. Other income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Rents
510
510
570
570
Sundry income
317
317
----
----
----
----
510
510
887
887
----
----
----
----
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Provision of sports pitch
4,946
4,946
2,107
2,107
Support costs
486
486
447
447
-------
-------
-------
-------
5,432
5,432
2,554
2,554
-------
-------
-------
-------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Provision of sports pitch
4,946
4,946
2,107
Governance costs
486
486
447
-------
----
-------
-------
4,946
486
5,432
2,554
-------
----
-------
-------
10. Net expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
17
23
----
----
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
426
447
----
----
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by any trustee (2023: nil)
No trustees were reimbursed for expenses incurred (2023: nil).
13. Staff costs
The total number of employees during the year was nil (2023: nil).
14. Tangible fixed assets
Land and buildings
Sports equipment
Sports pitch
Total
£
£
£
£
Cost
At 1 March 2023 and 29 February 2024
18,200
1,027
77,737
96,964
--------
-------
--------
--------
Depreciation
At 1 March 2023
960
77,737
78,697
Charge for the year
17
17
--------
-------
--------
--------
At 29 February 2024
977
77,737
78,714
--------
-------
--------
--------
Carrying amount
At 29 February 2024
18,200
50
18,250
--------
-------
--------
--------
At 28 February 2023
18,200
67
18,267
--------
-------
--------
--------
The land value contained within the financial statements is in respect of that proportion of the overall land gifted which pertains to the all weather sports pitch. It does not reflect the value of the total land gifted. The valuation of the portion of land gifted was made by Finlayson Hughes, Chartered Surveyors.
15. Debtors
2024
2023
£
£
Other debtors
608
----
----
16. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
932
414
Other creditors
12,147
--------
----
13,079
414
--------
----
17. Analysis of charitable funds
Unrestricted funds
At 1 March 2023
Income
Expenditure
At 29 February 2024
£
£
£
£
General funds
19,751
3,749
(5,432)
18,068
--------
-------
-------
--------
At 1 March 2022
Income
Expenditure
At 28 February 2023
£
£
£
£
General funds
21,371
934
(2,554)
19,751
--------
----
-------
--------
Restricted funds
At 1 March 2023
Income
Expenditure
At 29 February 2024
£
£
£
£
Atholl Estates
18,200
18,200
Community Fund
2,285
2,285
--------
----
----
--------
20,485
20,485
--------
----
----
--------
At 1 March 2022
Income
Expenditure
At 28 February 2023
£
£
£
£
Atholl Estates
18,200
18,200
Community Fund
2,285
2,285
--------
----
----
--------
20,485
20,485
--------
----
----
--------
The Atholl Estates fund represents the market value of the gift of land made by Atholl Estates in the year to 28 February 2003 less any disposals in following years.
The Community Fund is to be applied towards providing relief in emergency situations occurring within the community.
18. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
50
18,200
18,250
Current assets
31,097
2,285
33,382
Creditors less than 1 year
(13,079)
(13,079)
--------
--------
--------
Net assets
18,068
20,485
38,553
--------
--------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
67
18,200
18,267
Current assets
20,098
2,285
22,383
Creditors less than 1 year
(414)
(414)
--------
--------
--------
Net assets
19,751
20,485
40,236
--------
--------
--------
19. Related parties
There were no transactions with related parties during the year (2023: nil).