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COMPANY REGISTRATION NUMBER: SC350453
CHARITY REGISTRATION NUMBER: SC016416
Torridon District Community Association
Company Limited by Guarantee
Unaudited Financial Statements
For the year ended
30 April 2024
Torridon District Community Association
Company Limited by Guarantee
Financial Statements
Year ended 30 April 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
3
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7
Torridon District Community Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 April 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 30 April 2024 .
Reference and administrative details
Registered charity name
Torridon District Community Association
Charity registration number
SC016416
Company registration number
SC350453
Principal office and registered
Community Centre
office
Torridon
by Achnasheen
Ross-shire
IV22 2EZ
The trustees
Miss M Duncan
Mrs L Reid
Mrs G Lowe
Mr M Webster
Mr R Forshaw
C Davies
Ms Z Hudson
Independent examiner
M J Macnab BSc, FCCA.
Tulloch Street
Dingwall
Ross-shire
IV15 9JY
Structure, governance and management
The charity is a company limited by guarantee and is a registered Scottish charity (number SC016416). The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under it's Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.
Directors are normally appointed at the annual general meeting; however, a suitable person may be co-opted to the board and their appointment confirmed at the subsequent annual general meeting.
The decision making process is carried out by the directors who meet as required during each year. The directors are responsible for the strategic direction and governance of the company, whilst day-to-day running is delegated to a manager who is a paid member of staff. Directors and supporters are all volunteers. No director has any beneficial interest in the company.
The directors have reviewed the major risks that they have identified to which the charity is exposed and have established systems to mitigate those risks.
Objectives and activities
The objectives of the charity are:
(a) to promote the well-being of the community resident in the neighbourhood of Diabaig, Wester Alligin, Alligin, Fasaig and Annat without distinction of sex or of political, religious or other opinions, by associating with the local authorities, voluntary organisations and residents in a common effort to further health, to advance education, to provide a meeting place and facilities for physical and mental training and recreation and social, moral and intellectual development, and to foster community spirit for the achievement of these and other such objectives as may by law be deemed charitable; (b) to secure the establishment, maintenance and management of a community centre for activities promoted by the association and its constituent bodies in furtherance of the above objectives.
Achievements and performance
Whilst the main function of Torridon District Community Association (TDCA) is the management of Loch Torridon Community Centre (LTCC), the Association is also a key partner in the Torridon & Kinlochewe Community Development Plan. On the penultimate day of our financial year, and after much hard work to secure funding, we were exited to welcome Katie Anderson, our Community Development Officer to the team.
TDCA is delighted to continue to host Celtman triathlons and be the home of WWS Café. Both of which bring vital income to keep the doors of LTCC open, but also help to bring the centre alive.
With the Covid pandemic in the rear view mirror we experienced a more normal level of footfall to the building but, with the cost of living crisis impacting households, spend per head fell. Our expenditure continued to be impacted by increases in running costs in all areas, with significant increases in fuel bills, staff costs, contractor rates and supplier prices.
LTCC hosts community events, groups and classes and we would like to thank those who give their time to facilitate these events. Our commercial activities are undertaken to support community use of the facilities. Thanks also to all Staff and Directors who continue to make TDCA successful at a challenging time.
Financial review
The financial results for the year are as shown in the statement of financial activities and its related notes.
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 was approved on 5 November 2024 and signed on behalf of the board of trustees by:
Mr M Webster
Trustee
Torridon District Community Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Torridon District Community Association
Year ended 30 April 2024
I report to the trustees on my examination of the financial statements of Torridon District Community Association ('the charity') for the year ended 30 April 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 the Association of Chartered Certified Accountants 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.
M J Macnab BSc, FCCA. Independent Examiner
Tulloch Street Dingwall Ross-shire IV15 9JY
5 November 2024
Torridon District Community Association
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 April 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
1,581
40,336
41,917
13,942
Other trading activities
6
72,543
72,543
94,667
Investment income
7
502
502
175
--------
--------
---------
---------
Total income
74,626
40,336
114,962
108,784
--------
--------
---------
---------
Expenditure
Expenditure on charitable activities
8,9
94,467
28,299
122,766
103,245
--------
--------
---------
---------
Total expenditure
94,467
28,299
122,766
103,245
--------
--------
---------
---------
--------
--------
---------
---------
Net (expenditure)/income and net movement in funds
( 19,841)
12,037
( 7,804)
5,539
--------
--------
---------
---------
Reconciliation of funds
Total funds brought forward
52,116
986,099
1,038,215
1,032,676
--------
---------
------------
------------
Total funds carried forward
32,275
998,136
1,030,411
1,038,215
--------
---------
------------
------------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Torridon District Community Association
Company Limited by Guarantee
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
14
995,569
999,746
Current assets
Stocks
15
200
200
Debtors
16
14,299
13,013
Cash at bank and in hand
38,181
38,820
--------
--------
52,680
52,033
Creditors: amounts falling due within one year
17
17,838
13,564
--------
--------
Net current assets
34,842
38,469
------------
------------
Total assets less current liabilities
1,030,411
1,038,215
------------
------------
Net assets
1,030,411
1,038,215
------------
------------
Funds of the charity
Restricted funds
998,136
986,099
Unrestricted funds
32,275
52,116
------------
------------
Total charity funds
19
1,030,411
1,038,215
------------
------------
For the year ending 30 April 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 5 November 2024 , and are signed on behalf of the board by:
Mr M Webster
Trustee
Torridon District Community Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 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 Community Centre, Torridon, by Achnasheen, Ross-shire, IV22 2EZ.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
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.
Disclosure exemptions
(a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
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:
Computer equipment
-
20% reducing balance
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Limited by guarantee
Company limited by guarantee
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations
1,498
1,498
Membership subscriptions
83
83
Grants
Highland Council
17,075
17,075
North Highland Initiative
716
716
Energy Saving Trust
National Lottery Awards for All Grant
10,000
10,000
MOWI Grant
500
500
Scottish Land Fund Grant
12,045
12,045
-------
--------
--------
1,581
40,336
41,917
-------
--------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
2,647
2,647
Membership subscriptions
110
110
Grants
Highland Council
North Highland Initiative
2,000
2,000
Energy Saving Trust
9,185
9,185
National Lottery Awards for All Grant
MOWI Grant
Scottish Land Fund Grant
-------
--------
--------
2,757
11,185
13,942
-------
--------
--------
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Office lets
2,370
2,370
2,477
2,477
AV Room
1,367
1,367
582
582
Osteopath
196
196
184
184
Short lets
3,755
3,755
5,673
5,673
Badminton
22
22
110
110
Weddings
10,624
10,624
Overnight lets
1,420
1,420
Celtman
4,000
4,000
3,000
3,000
Workshops
720
720
576
576
Country dancing
320
320
240
240
Chi Gong
472
472
Yoga
560
560
Post Office
960
960
1,176
1,176
Fitness Centre membership
2,716
2,716
3,412
3,412
Bar sales
8,770
8,770
15,738
15,738
Tesco Click 'n' Collect
1,950
1,950
1,650
1,650
Catering and food sales
12,630
12,630
13,182
13,182
Other income
430
430
76
76
Craft fairs
470
470
50
50
Concerts
4,565
4,565
8,030
8,030
Cinema
790
790
1,734
1,734
Corkage
1,422
1,422
Thursday markets
1,060
1,060
1,255
1,255
Photocopying
96
96
EV Charger income
200
200
Commission on Arts and Crafts
10,335
10,335
12,189
12,189
Cafe
12,841
12,841
10,815
10,815
--------
--------
--------
--------
72,543
72,543
94,667
94,667
--------
--------
--------
--------
7. Investment income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
502
502
175
175
----
----
----
----
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Activity type 1
94,104
28,299
122,402
Support costs
363
364
--------
--------
---------
94,467
28,299
122,766
--------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Activity type 1
84,928
17,985
102,914
Support costs
332
331
--------
--------
---------
85,260
17,985
103,245
--------
--------
---------
9. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Activity type 1
122,402
122,402
102,914
Governance costs
364
364
331
---------
----
---------
---------
122,402
364
122,766
103,245
---------
----
---------
---------
10. Net (expenditure)/income
Net (expenditure)/income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
6,190
7,233
Fees payable for the audit of the financial statements
364
331
-------
-------
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
360
330
----
----
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
34,058
31,040
--------
--------
The average head count of employees during the year was 6 (2023: 2 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Number of staff
6
2
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
14. Tangible fixed assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
970,812
53,917
79,081
2,376
1,106,186
Additions
1,635
378
2,013
---------
--------
--------
-------
------------
At 30 April 2024
970,812
53,917
80,716
2,754
1,108,199
---------
--------
--------
-------
------------
Depreciation
At 1 May 2023
50,329
54,261
1,850
106,440
Charge for the year
718
5,291
181
6,190
---------
--------
--------
-------
------------
At 30 April 2024
51,047
59,552
2,031
112,630
---------
--------
--------
-------
------------
Carrying amount
At 30 April 2024
970,812
2,870
21,164
723
995,569
---------
--------
--------
-------
------------
At 30 April 2023
970,812
3,588
24,820
526
999,746
---------
--------
--------
-------
------------
15. Stocks
2024
2023
£
£
Raw materials and consumables
200
200
----
----
16. Debtors
2024
2023
£
£
Trade debtors
4,172
1,617
Other debtors
10,127
11,396
--------
--------
14,299
13,013
--------
--------
17. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,800
3,719
Accruals and deferred income
11,637
8,490
Social security and other taxes
295
225
NEST Pension
123
107
Other creditors
983
1,023
--------
--------
17,838
13,564
--------
--------
18. Deferred income
2024
2023
£
£
Amount deferred in year
3,050
360
-------
----
19. Analysis of charitable funds
Unrestricted funds
At 1 May 2023
Income
Expenditure
At 30 April 2024
£
£
£
£
General funds
52,116
74,626
(94,467)
32,275
--------
--------
--------
--------
At 1 May 2022
Income
Expenditure
At 30 April 2023
£
£
£
£
General funds
39,777
97,599
(85,260)
52,116
--------
--------
--------
--------
Restricted funds
At 1 May 2023
Income
Expenditure
At 30 April 2024
£
£
£
£
Community Hall
986,099
40,336
(28,299)
998,136
---------
--------
--------
---------
At 1 May 2022
Income
Expenditure
At 30 April 2023
£
£
£
£
Community Hall
992,899
11,185
(17,985)
986,099
---------
--------
--------
---------
20. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
10,241
985,328
995,569
Current assets
39,872
12,808
52,680
Creditors less than 1 year
(17,838)
(17,838)
--------
---------
------------
Net assets
32,275
998,136
1,030,411
--------
---------
------------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
10,566
989,180
999,746
Current assets
42,848
42,848
Creditors less than 1 year
(12,469)
(12,469)
--------
---------
------------
Net assets
40,945
989,180
1,030,125
--------
---------
------------