REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
for |
Glenrinnes Community Centre |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
for |
Glenrinnes Community Centre |
Glenrinnes Community Centre |
Contents of the Financial Statements |
For The Year Ended 30 April 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 |
Glenrinnes Community Centre (Registered number: SC228567) |
Report of the Trustees |
For The Year Ended 30 April 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 30 April 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 |
The Charity operates the Glenrinnes Hall (Glen Hall) for the benefit of the residents of Glenrinnes and its environs, ie the surrounding area. The work it does is consistent with this, and in relation to maintaining and improving the Glen Hall for their benefit. |
The Charity is dependent on the support of the volunteer Trustees and their families and a wider network of people who collectively put on Events and Activities. The Trustees provide up to approximately 10 hours unpaid service per month, although considerably more in the case of the Chair. |
ACHIEVEMENT AND PERFORMANCE |
During the year the GCC Council put on a full range of Events and Activities. With the new Committee elected in December it was decided to revamp the activities and carry out regular Big Breakfasts and Coffee mornings. Both events have been well supported. The events raised £6,806. The other main income was from Grants £36,009, but these were reserved for specific items. We carried out refurbishment of the hall with new curtains, tables and chairs. Expenditure was similar to previous year amounting to £21,657. Light and heat reduced by over half to £4,008 and increase in repairs and fundraising expenses as was expected. This results in an overall surplus of £21,657. |
FINANCIAL REVIEW |
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which covers unrestricted expenditure and provides sufficient funds to cover management, administration and support costs and is sufficient to cover emergency maintenance costs. |
The level of unrestricted funds held at the year end was £74,653 of which £51,580 represented fixed assets. |
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees 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 charity'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. |
Restricted funds amounted to £7,502 at the year end and to be spent in accordance with the purposes for which they were provided. |
The trustees have assessed the major risks to which the charity is exposed. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
The company is a recognised charity number SC032765. It is a company limited by guarantee, not having a share capital and is governed by the rules set out in its Memorandum and Articles of Association. |
The Charity is administered by the Board of Trustees/Directors/GCC Council, which approved this report. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Glenrinnes Community Centre (Registered number: SC228567) |
Report of the Trustees |
For The Year Ended 30 April 2024 |
Registered office |
Trustees |
Independent Examiner |
Alan Long FCA |
The Long Partnership |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
Bankers |
Elgin |
Moray |
IV30 1DL |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Glenrinnes Community Centre |
I report on the accounts for the year ended 30 April 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. |
Alan Long FCA |
The Institute of Chartered Accountants in England and Wales |
The Long Partnership |
4 North Guildry Street |
Elgin |
Moray |
IV30 1JR |
13 December 2024 |
Glenrinnes Community Centre |
Statement of Financial Activities |
For The Year Ended 30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income | 2 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
General hall activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 9 | 27,411 | (27,411 | ) | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 60,498 |
Glenrinnes Community Centre (Registered number: SC228567) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 50,483 |
Restricted funds | 10,015 |
TOTAL FUNDS | 60,498 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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. |
Glenrinnes Community Centre (Registered number: SC228567) |
Balance Sheet - continued |
30 April 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 |
Glenrinnes Community Centre |
Notes to the Financial Statements |
For The Year Ended 30 April 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 | - |
Plant and machinery | - |
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. |
2. | INVESTMENT INCOME |
30.4.24 | 30.4.23 |
£ | £ |
Deposit account interest |
Glenrinnes Community Centre |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
30.4.24 | 30.4.23 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
General hall activities |
1,577 | - |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 3,000 | (3,000 | ) | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 52,864 | 12,974 |
Glenrinnes Community Centre |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 50,483 | 10,015 | 60,498 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Prepayments |
Glenrinnes Community Centre |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.5.23 | in funds | funds | 30.4.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 50,483 | (3,241 | ) | 27,411 | 74,653 |
Restricted funds |
Membership fees | 93 | 158 | (93 | ) | 158 |
Microgrant fund | 8,960 | (1,369 | ) | (247 | ) | 7,344 |
Hall Repair fund | 462 | 26,109 | (26,571 | ) | - |
Community Centre | 500 | - | (500 | ) | - |
24,898 | ( |
) |
TOTAL FUNDS | 21,657 | 82,155 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 14,955 | (18,196 | ) | (3,241 | ) |
Restricted funds |
Membership fees | 158 | - | 158 |
Microgrant fund | - | (1,369 | ) | (1,369 | ) |
Hall Repair fund | 28,509 | (2,400 | ) | 26,109 |
( |
) | 24,898 |
TOTAL FUNDS | ( |
) | 21,657 |
Glenrinnes Community Centre |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
9. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.5.22 | in funds | funds | 30.4.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 52,864 | (5,381 | ) | 3,000 | 50,483 |
Restricted funds |
Membership fees | 52 | 41 | - | 93 |
Microgrant fund | 9,460 | - | (500 | ) | 8,960 |
Hall Repair fund | 3,462 | - | (3,000 | ) | 462 |
Community Centre | - | - | 500 | 500 |
12,974 | 41 | (3,000 | ) | 10,015 |
TOTAL FUNDS | 65,838 | (5,340 | ) | - | 60,498 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 17,009 | (22,390 | ) | (5,381 | ) |
Restricted funds |
Membership fees | 41 | - | 41 |
TOTAL FUNDS | 17,050 | (22,390 | ) | (5,340 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.5.22 | in funds | funds | 30.4.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 52,864 | (8,622 | ) | 30,411 | 74,653 |
Restricted funds |
Membership fees | 52 | 199 | (93 | ) | 158 |
Microgrant fund | 9,460 | (1,369 | ) | (747 | ) | 7,344 |
Hall Repair fund | 3,462 | 26,109 | (29,571 | ) | - |
12,974 | 24,939 | (30,411 | ) | 7,502 |
TOTAL FUNDS | 65,838 | 16,317 | - | 82,155 |
Glenrinnes Community Centre |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
9. | 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 | 31,964 | (40,586 | ) | (8,622 | ) |
Restricted funds |
Membership fees | 199 | - | 199 |
Microgrant fund | - | (1,369 | ) | (1,369 | ) |
Hall Repair fund | 28,509 | (2,400 | ) | 26,109 |
28,708 | (3,769 | ) | 24,939 |
TOTAL FUNDS | 60,672 | (44,355 | ) | 16,317 |
10. | RELATED PARTY DISCLOSURES |